Document:

Exhibit 4.3
                                 FORM OF WARRANT

THE SECURITIES  REPRESENTED BY THIS WARRANT HAVE NOT BEEN  REGISTERED  UNDER THE
SECURITIES ACT OF 1933, AS AMENDED,  OR APPLICABLE  STATE  SECURITIES  LAWS. THE
SECURITIES  HAVE BEEN ACQUIRED FOR  INVESTMENT  AND MAY NOT BE OFFERED FOR SALE,
SOLD,  TRANSFERRED  OR  ASSIGNED  IN THE  ABSENCE OF AN  EFFECTIVE  REGISTRATION
STATEMENT FOR THE SECURITIES  UNDER THE  SECURITIES ACT OF 1933, AS AMENDED,  OR
APPLICABLE  STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL IN A FORM REASONABLY
SATISFACTORY  TO THE ISSUER THAT  REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
APPLICABLE  STATE SECURITIES LAWS OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID
ACT.  NOTWITHSTANDING  THE FOREGOING,  THIS WARRANT MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT.

                                  SKYMALL, INC.

                        WARRANT TO PURCHASE COMMON STOCK

Warrant No.:                        Number of Shares:
Date of Issuance: December ___, 1999

SkyMall, Inc., a Nevada corporation (the "Company"),  hereby certifies that, for
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged,  [_______________]  the registered  holder hereof or its permitted
assigns (a  "holder"),  is entitled,  subject to the terms set forth  below,  to
purchase from the Company upon  surrender of this Warrant,  at any time or times
on or after  the date  hereof,  but not after  11:59  P.M.  Eastern  Time on the
Expiration  Date (as  defined  herein) [ ] fully  paid  nonassessable  shares of
Common Stock (as defined  herein) of the Company (the  "Warrant  Shares") at the
purchase price per share provided in Section 2(a) below.

         1.  DEFINITIONS.

         (a) STOCK AND WARRANT  PURCHASE  AGREEMENT.  This Warrant is one of the
Warrants  (the  "Warrants")  issued  pursuant to the Stock and Warrant  Purchase
Agreement dated as of December 20, 1999, among the Company and the Investors (as
such term in defined therein) (the "Agreement").

         (b) DEFINITIONS.  The following words and terms as used in this Warrant
shall have the following meanings:

<PAGE>

                  (i) "Business Day" means any day other than  Saturday,  Sunday
         or  other  day on  which  commercial  banks in the City of New York are
         authorized or required by law to remain closed.

                  (ii)  "Closing  Bid Price"  means,  for any security as of any
         date,  the last  closing bid price for such  security on the  Principal
         Market (as defined  below) as reported by Bloomberg  Financial  Markets
         ("Bloomberg"), or, if the Principal Market is not the principal trading
         market for such  security,  the last closing bid price of such security
         on the  principal  securities  exchange  or trading  market  where such
         security  is  listed  or traded as  reported  by  Bloomberg,  or if the
         foregoing do not apply,  the last closing bid price of such security in
         the  over-the-counter  market on the electronic bulletin board for such
         security  as  reported  by  Bloomberg,  or, if no closing  bid price is
         reported for such security by  Bloomberg,  the last closing trade price
         for such  security  as reported by  Bloomberg,  or, if no last  closing
         trade price is reported for such security by Bloomberg,  the average of
         the bid prices of any market  makers for such  security  as reported in
         the "pink sheets" by the National Quotation Bureau, Inc. If the Closing
         Bid Price cannot be calculated for such security on such date on any of
         the  foregoing  bases,  the Closing Bid Price of such  security on such
         date  shall be the fair  market  value as  mutually  determined  by the
         Company and the holder of this Warrant.  All such  determinations to be
         appropriately  adjusted  for any stock  dividend,  stock split or other
         similar transaction during such period.

                  (iii)  "Closing Sale Price" means,  for any security as of any
         date,  the last closing  trade price for such security on the Principal
         Market  (as  defined  below)  as  reported  by  Bloomberg,  or,  if the
         Principal  Market is not the principal  securities  exchange or trading
         market for such security, the last closing trade price of such security
         on the  principal  securities  exchange  or trading  market  where such
         security  is  listed  or traded as  reported  by  Bloomberg,  or if the
         foregoing do not apply,  the last closing  trade price of such security
         in the  over-the-counter  market on the  electronic  bulletin board for
         such  security as reported by  Bloomberg,  or, if no last closing trade
         price is reported for such security by Bloomberg,  the last closing ask
         price of such security as reported by Bloomberg, or, if no last closing
         ask price is reported for such  security by  Bloomberg,  the average of
         the lowest ask price and lowest bid price of any market makers for such
         security  as reported in the "pink  sheets" by the  National  Quotation
         Bureau,  Inc. If the Closing Sale Price cannot be  calculated  for such
         security on such date on any of the foregoing  bases,  the Closing Sale
         Price of such  security on such date shall be the fair market  value as
         mutually  determined by the Company and the holder of this Warrant.  If
         the Company and the holder of this Warrant are unable to agree upon the
         fair  market  value of the Common  Stock,  then such  dispute  shall be
         resolved by the term  "Market  Price"  being  substituted  for the term
         "Closing  Sale  Price."  All such  determinations  to be  appropriately
         adjusted  for  any  stock  dividend,   stock  split  or  other  similar
         transaction during such period.

                                       2
<PAGE>

                  (iv) "Common Stock" means (i) the Company's  common stock, par
         value  $.001 per  share,  and (ii) any  capital  stock  into which such
         Common  Stock shall have been  changed or any capital  stock  resulting
         from a reclassification of such Common Stock.

                  (v)  "Expiration  Date" means the date five (5) years from the
         date of this  Warrant or, if such date falls on a  Saturday,  Sunday or
         other day on which banks are required or authorized to be closed in the
         City of New York or the State of New York or on which  trading does not
         take place on the principal  exchange or automated  quotation system on
         which the Common Stock is traded (a  "Holiday"),  the next date that is
         not a Holiday.

                  (vi) "Issuance Date" means, with respect to each Warrant,  the
         date of issuance of the applicable Warrant.

                  (vii) "Market  Price" means,  with respect to any security for
         any date of  determination,  that price  which shall be computed as the
         arithmetic  average of the Closing Bid Prices for such security on each
         of the five (5)  consecutive  trading days  immediately  preceding such
         date of  determination  (all such  determinations  to be  appropriately
         adjusted  for any stock  dividend,  stock split or similar  transaction
         during the pricing period).

                  (viii)  "Person"  means an  individual,  a  limited  liability
         company,  a partnership,  a joint venture,  a corporation,  a trust, an
         unincorporated  organization  and a  government  or any  department  or
         agency thereof.

                  (ix) "Principal Market" means the Nasdaq National Market.

                  (x)  "Securities  Act" means the  Securities  Act of 1933,  as
         amended.

                  (xi) "Warrant"  means this Warrant and all warrants  issued in
         exchange, transfer or replacement thereof.

                  (xii) "Warrant Exercise Price" shall be $8.00.

                  (xiii)  OTHER  DEFINITIONAL  PROVISIONS.  Except as  otherwise
         specified  herein,  all  references  herein (A) to the Company shall be
         deemed to include the Company's  successors  and (B) to any  applicable
         law defined or referred to herein,  shall be deemed  references to such
         applicable  law as the  same  may  have  been  or  may  be  amended  or
         supplemented  from time to time.  When used in this Warrant,  the words
         "herein," "hereof," and "hereunder," and words of similar import, shall
         refer  to this  Warrant  as a whole  and not to any  provision  of this
         Warrant, and the words "Section," "Schedule," and "Exhibit" shall refer
         to Sections of, and  Schedules  and  Exhibits  to, this Warrant  unless

                                       3
<PAGE>

         otherwise  specified.  Whenever  the  context so  requires,  the neuter
         gender  includes the  masculine or  feminine,  and the singular  number
         includes the plural, and vice versa.

         2.  EXERCISE OF WARRANT.

          (a) Subject to the terms and  conditions  hereof,  this Warrant may be
exercised by the holder hereof then  registered on the books of the Company,  in
whole or in part,  at any time on any  Business  Day on or after the  opening of
business  on the  date  hereof  and  prior  to 11:59  P.M.  Eastern  Time on the
Expiration  Date  by (i)  delivery  of a  written  notice,  in the  form  of the
subscription  notice  attached as EXHIBIT A hereto (the "Exercise  Notice"),  of
such holder's election to exercise this Warrant,  which notice shall specify the
number of Warrant Shares to be purchased;  (ii) (A) payment to the Company of an
amount equal to the Warrant  Exercise Price  multiplied by the number of Warrant
Shares as to which this  Warrant is being  exercised  (the  "Aggregate  Exercise
Price")  in cash,  certified  or bank  funds  or wire  transfer  of  immediately
available  funds  or (B)  notifying  the  Company  that  this  Warrant  is being
exercised  pursuant to a Cashless  Exercise  (as defined in Section  2(e));  and
(iii)  the   surrender  of  this  Warrant  (or  a  Lost  Warrant   Affidavit  in
substantially  the form annexed hereto as Exhibit C with respect to this Warrant
in the case of its loss, theft or destruction) to a common carrier for overnight
delivery to the Company;  provided, that if such Warrant Shares are to be issued
in any name  other  than that of the  registered  holder of this  Warrant,  such
issuance  shall be deemed a transfer  and the  provisions  of Section 8 shall be
applicable.  In the event of any  exercise  of the  rights  represented  by this
Warrant in compliance  with this Section  2(a),  the Company shall on the second
Business Day following the date of receipt of the Exercise Notice, the Aggregate
Exercise  Price (or notice of a Cashless  Exercise)  and this Warrant (or a Lost
Warrant  Affidavit in  substantially  the form annexed  hereto as EXHIBIT C with
respect to this  Warrant  in the case of its loss,  theft or  destruction)  (the
"Exercise Delivery Documents"), credit such aggregate number of shares of Common
Stock to which the holder (or its  designee)  shall be entitled to the  holder's
(or its designee's) balance account with The Depository Trust Company; provided,
however,  if the holder who submitted  the Exercise  Notice  requested  physical
delivery of any or all of the Warrant  Shares,  then the  Company  shall,  on or
before the second  Business  Day  following  receipt  of the  Exercise  Delivery
Documents issue and surrender to a common carrier for overnight  delivery to the
address specified in the Exercise Notice, a certificate,  registered in the name
of the holder  (or its  designee),  for the number of shares of Common  Stock to
which the holder (or its  designee)  shall be  entitled.  Upon  delivery  of the
Exercise  Notice and Aggregate  Exercise Price referred to above or notification
to the Company of a Cashless Exercise referred to in Section 2(e), the holder of
this Warrant (or its  designee)  shall be deemed for all  corporate  purposes to
have  become the holder of record of the Warrant  Shares  with  respect to which
this Warrant has been  exercised,  irrespective  of the date of delivery of this
Warrant as required by clause (iii) above or the  certificates  evidencing  such
Warrant Shares.  In the case of a dispute as to the determination of the Warrant
Exercise Price or the Market Price of a security or the  arithmetic  calculation
of the Warrant  Shares,  the Company shall  promptly issue to the holder (or its
designee)  the number of shares of Common  Stock that is not  disputed and shall
submit the disputed  determinations or arithmetic calculations to the holder via
facsimile within one Business Day of receipt of the holder's Exercise Notice. If
the holder and the  Company  are unable to agree upon the  determination  of the
Warrant  Exercise  Price or the Market Price or  arithmetic  calculation  of the
Warrant  Shares  within one day of such  disputed  determination  or  arithmetic
calculation  being submitted to the holder,  then the Company shall  immediately

                                       4
<PAGE>

submit via  facsimile  (i) the disputed  determination  of the Warrant  Exercise
Price or the Market Price to an independent,  reputable  investment banking firm
of nationally  recognized standing,  mutually acceptable to both the Company and
the holder or (ii) the disputed arithmetic  calculation of the Warrant Shares to
an independent,  outside accountant, mutually acceptable to both the Company and
the  holder.  The  Company  shall  cause  the  investment  banking  firm  or the
accountant,  as the case may be, to perform the  determinations  or calculations
and notify the Company  and the holder of the results no later than  forty-eight
(48)  hours  from  the  time  it  receives   the  disputed   determinations   or
calculations.  Such investment  banking firm's or accountant's  determination or
calculation,  as the case may be,  shall be deemed  conclusive  absent  manifest
error.

          (b) Unless the rights  represented  by this Warrant shall have expired
or shall have been fully  exercised,  the Company shall,  as soon as practicable
and in no event later than two (2) Business Days after  delivery of the Exercise
Delivery Documents and at its own expense,  issue a new Warrant identical in all
respects to this Warrant  exercised except it shall represent rights to purchase
the number of Warrant  Shares  purchasable  immediately  prior to such  exercise
under this Warrant exercised,  less the number of Warrant Shares with respect to
which such Warrant is exercised.

          (c) No  fractional  shares of Common  Stock are to be issued  upon the
exercise of this Warrant, but rather the number of shares of Common Stock issued
upon exercise of this Warrant shall be rounded up to the nearest whole number.

          (d) If the Company shall fail for any reason or for no reason to issue
to the holder within two (2) Business  Days of receipt of the Exercise  Delivery
Documents,  a certificate  for the number of shares of Common Stock to which the
holder (or its  designee) is entitled or to credit the holder's (or  designee's)
balance  account with The Depository  Trust Company for such number of shares of
Common Stock to which the holder (or its designee) is entitled upon the holder's
exercise  of this  Warrant or a new  Warrant  for the number of shares of Common
Stock to which such holder is  entitled  pursuant to Section  2(b)  hereof,  the
Company  shall,  in addition  to any other  remedies  under this  Warrant or the
Agreement or otherwise  available to such holder,  including any indemnification
under the  Agreement,  pay as additional  damages in cash to such holder on each
day the issuance of such Common Stock  certificate  or new Warrant,  as the case
may be, is not timely  effected,  an amount  equal to 0.5% of the product of (A)
the sum of the number of shares of Common Stock not issued to the holder (or its
designee)  on a timely  basis  and to which  the  holder  (or its  designee)  is
entitled and/or, the number of shares represented by the portion of this Warrant
which is not being  converted,  as the case may be,  and (B) the  average of the
Closing Sale Price of the Common Stock for the five (5) consecutive trading days

                                       5
<PAGE>

immediately preceding the last possible date which the Company could have issued
such  Common  Stock  or  Warrant,  as the  case may be,  to the  holder  without
violating this Section 2.

          (e) If, despite the Company's  obligations  under the  Agreement,  the
Warrant Shares to be issued are not registered and available for resale pursuant
to  a   registration   statement  in  accordance   with  the   Agreement,   then
notwithstanding  anything  contained herein to the contrary,  the holder of this
Warrant may, at its election  exercised in its sole  discretion,  exercise  this
Warrant in whole or in part and,  in lieu of making the cash  payment  otherwise
contemplated  to be made to the  Company  upon such  exercise  in payment of the
Aggregate  Exercise Price,  elect instead to receive upon such exercise the "Net
Number" of shares of Common Stock determined  according to the following formula
(a "Cashless Exercise"):

                  Net Number = (A X B) - (A X C)
                               -----------------
                                       B

                  For purposes of the foregoing formula:

                           A = the total  number of shares with respect to which
                           this Warrant is then being exercised.

                           B = the Market  Price as of the date of the  Exercise
                           Notice.

                           C = the Warrant Exercise Price then in effect for the
                           applicable   Warrant  Shares  at  the  time  of  such
                           exercise.

         3.  (a)   ADJUSTMENT   FOR  DIVIDENDS  IN  OTHER  STOCK  AND  PROPERTY;
RECLASSIFICATIONS.  In case at any time or from time to time the  holders of the
Common Stock (or any shares of stock or other  securities at the time receivable
upon the  exercise of this  Warrant)  shall have  received,  or, on or after the
record date fixed for the  determination  of eligible  shareholders,  shall have
become entitled to receive, without payment therefor,

                         (1) other or  additional  stock or other  securities or
                    property (other than cash) by way of dividend,

                         (2) any cash or other  property  paid or payable out of
                    any  source  other than  retained  earnings  (determined  in
                    accordance with generally accepted  accounting  principles),
                    or

                                       6
<PAGE>

                         (3) other or  additional  stock or other  securities or
                    property  (including cash) by way of stock-split,  spin-off,
                    reclassification, combination of shares or similar corporate
                    rearrangement,

(other  than (x) shares of Common  Stock or any other stock or  securities  into
which such  Common  Stock shall have been  exchanged,  or (y) any other stock or
securities  convertible into or exchangeable for such Common Stock or such other
stock or  securities),  then and in each such case a holder,  upon the  exercise
hereof as  provided  in Section 2, shall be  entitled  to receive  the amount of
stock and other securities and property (including cash in the cases referred to
in clauses (2) and (3) above)  which such holder  would hold on the date of such
exercise  if on the  Issuance  Date such holder had been the holder of record of
the number of shares of Common Stock called for on the face of this Warrant, and
had  thereafter,  during the period from the Issuance  Date to and including the
date of such exercise, retained such shares and/or all other or additional stock
and other  securities and property  (including  cash in the cases referred to in
clause (2) and (3) above)  receivable  by it as  aforesaid  during such  period,
giving effect to all adjustments  called for during such period by Sections 3(a)
and 3(b).

         (b) ADJUSTMENT FOR REORGANIZATION, CONSOLIDATION AND MERGER. In case of
any  reorganization  of the Company (or any other corporation the stock or other
securities of which are at the time  receivable on the exercise of this Warrant)
or  reclassification  of its securities  after the Issuance Date, or the Company
(or any such other  corporation)  shall  consolidate  with or merge into another
corporation or entity or convey or exchange all or substantially  all its assets
to another  corporation or entity, then and in each such case the holder of this
Warrant, upon the exercise hereof as provided in Section 2 at any time after the
consummation of such reorganization,  reclassification,  consolidation,  merger,
conveyance  or exchange,  shall be entitled to receive,  in lieu of the stock or
other securities and property receivable upon the exercise of this Warrant prior
to such  consummation,  the stock or other  securities or property to which such
holder  would  have been  entitled  upon such  consummation  if such  holder had
exercised  this  Warrant  immediately  prior  thereto,  all  subject  to further
adjustment  as provided in Sections  3(a),  (b), (c) and (d); in each such case,
the terms of this Warrant  shall be  applicable  to the shares of stock or other
securities or property  receivable  upon the exercise of this Warrant after such
consummation.

         (c) ADJUSTMENT FOR CERTAIN DIVIDENDS AND DISTRIBUTIONS.  If the Company
at any  time or from  time  to time  makes,  or  fixes  a  record  date  for the
determination  of  holders  of  Common  Stock  (or any  shares of stock or other
securities at the time receivable upon the exercise of this Warrant) entitled to
receive,  a dividend or other  distribution  payable in additional shares of (x)
Common Stock or any other stock or securities into which such Common Stock shall

                                       7
<PAGE>

have been exchanged,  or (y) any other stock or securities  convertible  into or
exchangeable  for such Common Stock or such other stock or securities,  then and
in each such event

                   (1)  the Warrant  Exercise  Price  then  in  effect  shall be
decreased  as of the time of the issuance of such  additional  shares or, in the
event such  record  date is fixed,  as of the close of  business  on such record
date, by multiplying the Warrant Exercise Price then in effect by a fraction (A)
the  numerator of which is 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 (B) 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 as the
case may be,  plus the number of shares of Common  Stock  issuable in payment of
such dividend or distribution;  PROVIDED,  HOWEVER,  that if such record date is
fixed and such dividend is not fully paid or if such  distribution  is not fully
made on the date fixed therefor,  the Warrant Exercise Price shall be recomputed
accordingly  as of the close of business on such record date, and thereafter the
Warrant Exercise Price shall be adjusted pursuant to this Section 3(c) as of the
time of actual payment of such dividends or distributions; and

                   (2)  the   number  of  shares  of  Common  Stock  theretofore
receivable upon the exercise of this Warrant shall be increased,  as of the time
of such issuance or, in the event such record date is fixed,  as of the close of
business on such  record  date,  in inverse  proportion  to the  decrease in the
Warrant Exercise Price.

         (d) STOCK SPLIT AND REVERSE STOCK SPLIT.  If the Company at any time or
from time to time effects a stock split or subdivision of the outstanding Common
Stock, the Warrant Exercise Price then in effect  immediately  before that stock
split or subdivision shall be proportionately decreased and the number of shares
of Common Stock  theretofore  receivable upon the exercise of this Warrant shall
be  proportionately  increased.  If the Company at any time or from time to time
effects a reverse stock split or combines the outstanding shares of Common Stock
into a smaller  number of  shares,  the  Warrant  Exercise  Price then in effect
immediately   before  that  reverse   stock  split  or   combination   shall  be
proportionately  increased and the number of shares of Common Stock  theretofore
receivable upon the exercise of this Warrant shall be proportionately decreased.
Each adjustment  under this Section 3(d) shall become  effective at the close of
business  on the date the  stock  split,  subdivision,  reverse  stock  split or
combination becomes effective.

         4. REDEMPTION AT THE COMPANY'S ELECTION.  The Company, upon thirty (30)
days' prior  written  notice to the  holder,  may elect to redeem all or part of
this  Warrant at a price  equal to $0.01 per  Warrant  Share  issuable  upon the
exercise hereof,  if, but only if: (i) the Closing Bid Price shall have exceeded
150% of the Warrant Exercise Price (as equitably adjusted to reflect any merger,
consolidation or reorganization of the Company or any stock split,  subdivision,
reverse  stock  split or  combination  effected  by the  Company) on each of the

                                       8
<PAGE>

twenty (20) consecutive trading days ending not more than one Business Day prior
to the date on which the notice of redemption  shall be delivered to the holder,
(ii) the  registration  statement  required to be filed pursuant to the terms of
that certain  Registration Rights Agreement of even date herewith hereof, by and
among the Company and the other parties  signatory  thereto,  shall be effective
and permit the sale of all Warrant  Shares,  and (iii) the Common Stock shall be
listed and trading on the Nasdaq  National  Market,  AMEX or the NYSE.  Any such
redemption  shall be effective on the  thirtieth  day  following the delivery of
such notice,  PROVIDED,  HOWEVER, that the holder may elect at any time prior to
the effective  date of redemption to exercise all or any portion of this Warrant
in accordance with the terms hereof;  and PROVIDED  FURTHER,  that the Company's
right to redeem this Warrant  shall be  suspended  if, after the notice has been
delivered,  the  Warrant  Shares  may  not  be  sold  pursuant  to an  effective
registration statement for any reason whatsoever or the Common Stock shall cease
to be listed and trading on the Nasdaq  National  Market,  AMEX or the NYSE. The
notice period shall then be extended for a period of time equal to the number of
days during the notice period during which the registration  statement shall not
have  permitted  the sale of such  Warrant  Shares or the Common Stock shall not
have been so listed and trading, as the case may be; provided, however, that the
notice  period  shall not begin to run until  such time as the  holder  receives
notice from the Company that the registration  statement permits the sale of the
Warrant Shares and/or the Common Stock shall have been so listed and trading, as
the case may be. The redemption  price shall be payable in full, in cash, on the
effective  date of any  redemption  pursuant to this paragraph (4). A redemption
notice  delivered  by the  Company  pursuant  to this  paragraph  (4)  shall  be
irrevocable. Notwithstanding the foregoing, the Company's right to redeem all or
part of this  Warrant may not be  exercised  if on the date on which the Company
delivers  notice of such exercise the Market Price shall be less than $12.00 per
share  (as  equitably   adjusted  to  reflect  any  merger,   consolidation   or
reorganization  of the Company or any stock split,  subdivision,  reverse  stock
split or combination effected by the Company).

         5.  COVENANTS AS TO COMMON  STOCK.  The Company  hereby  covenants  and
agrees as follows:

         (a) This Warrant is, and any  Warrants  issued in  substitution  for or
replacement  of this Warrant will upon issuance be, duly  authorized and validly
issued.

         (b) All Warrant  Shares  which may be issued  upon the  exercise of the
rights represented by this Warrant will, upon issuance, be validly issued, fully
paid and nonassessable  and free from all taxes,  liens and charges with respect
to the issuance thereof.

         (c) During  the period  within  which the  rights  represented  by this
Warrant may be  exercised,  the Company  will at all times have  authorized  and
reserved at least 100% of the number of shares of Common Stock needed to provide
for the  exercise of the rights  then  represented  by this  Warrant and the par
value of said shares  will at all times be less than or equal to the  applicable
Warrant Exercise Price.

                                       9
<PAGE>

         (d) The Company  shall secure the listing of the shares of Common Stock
issuable upon exercise of this Warrant upon each national securities exchange or
automated  quotation  system, if any, upon which shares of Common Stock are then
listed within the time required by such exchange or quotation system's rules and
regulations  and shall  maintain,  so long as any other  shares of Common  Stock
shall be so listed, such listing of all shares of Common Stock from time to time
issuable  upon the exercise of this  Warrant;  and the Company  shall so list on
each national  securities exchange or automated quotation system within the time
required by such exchange or quotation  system's rules and  regulations,  as the
case may be, and shall  maintain  such  listing of, any other  shares of capital
stock of the Company  issuable  upon the exercise of this Warrant if and so long
as any  shares of the same  class  shall be listed on such  national  securities
exchange or automated quotation system.

         (e)  The  Company  will  not,  by  amendment  of  its   Certificate  of
Incorporation or through any reorganization,  transfer of assets, consolidation,
merger, dissolution, issue or sale of securities, or any other voluntary action,
avoid or seek to avoid the  observance or  performance of any of the terms to be
observed  or  performed  by it  hereunder,  but will at all times in good  faith
assist in the  carrying  out of all the  provisions  of this  Warrant and in the
taking of all such action as may  reasonably  be requested by the holder of this
Warrant in order to protect the exercise privilege of the holder of this Warrant
against dilution or other  impairment,  consistent with the tenor and purpose of
this Warrant.  Without limiting the generality of the foregoing, the Company (i)
will not increase the par value of any shares of Common  Stock  receivable  upon
the exercise of this Warrant  above the Warrant  Exercise  Price then in effect,
and (ii) will take all such actions as may be necessary or  appropriate in order
that the Company may  validly  and  legally  issue fully paid and  nonassessable
shares of Common Stock upon the exercise of this Warrant.

         (f) This  Warrant  will be binding  upon any entity  succeeding  to the
Company by merger,  consolidation or acquisition of all or substantially  all of
the  Company's  assets  and  any  such  successive  mergers,  consolidations  or
acquisitions.

         6. TAXES.  The Company shall pay any and all taxes which may be payable
with respect to the issuance  and  delivery of Warrant  Shares upon  exercise of
this Warrant;  provided,  however, that the Company shall not be required to pay
any tax that may be payable in respect of any transfer  involved in the issue or
delivery of Common  Stock or other  securities  or property in a name other than
that of the  registered  holders of this Warrant to be converted and such holder
shall pay such amount, if any, to cover any applicable transfer or similar tax.

         7.  WARRANT  HOLDER  NOT  DEEMED A  STOCKHOLDER.  Except  as  otherwise
specifically  provided  herein,  no holder of this Warrant,  solely by virtue of
such  holding,  shall be entitled to vote or receive  dividends or be deemed the
holder of shares of the Company for any purpose, nor shall anything contained in
this Warrant be construed to confer upon the holder hereof,  as such, any of the
rights of a  stockholder  of the Company or any right to vote,  give or withhold
consent  to any  corporate  action  (whether a  reorganization,  issue of stock,
reclassification  of stock,  consolidation,  merger,  conveyance or  otherwise),

                                       10
<PAGE>

receive  notice of  meetings,  receive  dividends  or  subscription  rights,  or
otherwise,  prior to the  issuance to the holder of this  Warrant of the Warrant
Shares which he or she is then entitled to receive upon the due exercise of this
Warrant.  In addition,  nothing  contained in this Warrant shall be construed as
imposing  any  liabilities  on such  holder to  purchase  any  securities  (upon
exercise of this  Warrant or  otherwise)  or as a  stockholder  of the  Company,
whether  such  liabilities  are  asserted by the Company or by  creditors of the
Company.  Notwithstanding this Section 6, the Company will provide the holder of
this Warrant with copies of the same notices and other  information given to the
stockholders of the Company generally, contemporaneously with the giving thereof
to the stockholders.

         8.  REPRESENTATIONS  OF  HOLDER.  The  holder of this  Warrant,  by the
acceptance hereof,  represents that it is acquiring this Warrant and the Warrant
Shares for its own account for investment  only and not with a view towards,  or
for resale in connection  with, the public sale or  distribution of this Warrant
or the Warrant Shares, except pursuant to sales registered or exempted under the
Securities Act; provided,  however,  that by making the representations  herein,
the holder does not agree to hold this Warrant or any of the Warrant  Shares for
any minimum or other  specific  term and  reserves  the right to dispose of this
Warrant and the Warrant  Shares at any time in accordance  with or pursuant to a
registration  statement or an exemption  under the Securities Act. The holder of
this Warrant further  represents,  by acceptance hereof,  that, as of this date,
such  holder  is an  "accredited  investor"  as  such  term is  defined  in Rule
501(a)(1) of Regulation D promulgated by the Securities and Exchange  Commission
under the Securities Act (an "Accredited Investor").

         9. OWNERSHIP AND TRANSFER.

         (a) The Company shall maintain at its principal  executive  offices (or
such other office or agency of the Company as it may  designate by notice to the
holder hereof),  a register for this Warrant,  in which the Company shall record
the name and address of the person in whose name this  Warrant has been  issued,
as well as the name and  address of each  transferee.  The Company may treat the
person in whose name any Warrant is  registered on the register as the owner and
holder  thereof for all purposes,  but in all events  recognizing  any transfers
made in accordance with the terms of this Warrant.

         (b) This Warrant and the rights granted  hereunder  shall be assignable
by the holder hereof without the consent of the Company.

         (c) The Company is obligated to register the Warrant  Shares for resale
under the  Securities  Act  pursuant  to the  Agreement  and any  holder of this
Warrant (and the assignees  thereof) is entitled to the  registration  rights in
respect of the Warrant Shares as set forth in the Agreement.

         10. LOST, STOLEN,  MUTILATED OR DESTROYED  WARRANT.  If this Warrant is
lost,  stolen,  mutilated  or  destroyed,  the Company  shall,  on receipt of an

                                       11
<PAGE>

executed  Lost Warrant  Affidavit in  substantially  the form annexed  hereto as
EXHIBIT C (or, in the case of a mutilated  Warrant,  the  Warrant),  issue a new
Warrant  of like  denomination  and  tenor  as this  Warrant  so  lost,  stolen,
mutilated or destroyed.

          11. NOTICE.  Any notices,  consents,  waivers or other  communications
required or  permitted  to be given under the terms of this  Warrant  must be in
writing  and will be deemed  to have  been  delivered:  (i) upon  receipt,  when
delivered  personally;  (ii)  upon  receipt,  when sent by  facsimile  (provided
confirmation of transmission  is  mechanically or  electronically  generated and
kept on file by the sending party); or (iii) one Business Day after deposit with
a  nationally  recognized  overnight  delivery  service,  in each case  properly
addressed to the party to receive the same. The addresses and facsimile  numbers
for such communications shall be:

                  If to the Company:

                  SkyMall, Inc.
                  1520 East Pima Street
                  Phoenix, Arizona 85034
                  Telephone: 602-254-8620
                  Facsimile: 602-254-6544
                  Attention: Robert M. Worsley, President and
                             Chief Executive Officer

                  With copy to:

                  Squire, Sanders & Dempsey L.L.P.
                  Two Renaissance Square
                  40 North Central Avenue, Suite 2700
                  Phoenix, Arizona 85004
                  Telephone: 602-528-4000
                  Facsimile: 602-253-8129
                  Attention: Gregory R. Hall, Esq.

If to a holder of this Warrant,  to it at the address and  facsimile  number set
forth on the  Schedule  of  Investors  to the  Agreement,  with  copies  to such
holder's  representatives as set forth on such Schedule of Investors, or at such
other  address and  facsimile as shall be delivered to the Company by the holder
at any time.  Each party shall  provide five days' prior  written  notice to the
other party of any change in address or facsimile number.  Written  confirmation
of receipt (A) given by the recipient of such notice,  consent,  waiver or other
communication,  (B)  mechanically  or  electronically  generated by the sender's
facsimile machine containing the time, date,  recipient  facsimile number and an
image of the first page of such  transmission  or (C)  provided by a  nationally
recognized  overnight delivery service shall be rebuttable  evidence of personal
service,  receipt by facsimile or receipt from a nationally recognized overnight
delivery   service  in  accordance   with  clause  (i),  (ii)  or  (iii)  above,
respectively.

                                       12
<PAGE>

         12. DATE. The date of this Warrant is [ ]. This Warrant, in all events,
shall be  wholly  void and of no  effect  after  the  close of  business  on the
Expiration Date, except that  notwithstanding  any other provisions  hereof, the
provisions of Section 8 shall  continue in full force and effect after such date
as to any Warrant  Shares or other  securities  issued upon the exercise of this
Warrant.

         13.  AMENDMENT AND WAIVER.  Except as otherwise  provided  herein,  the
provisions of the Warrants  issued  pursuant to the Agreement may be amended and
the Company may take any action  herein  prohibited,  or omit to perform any act
herein  required to be  performed  by it, only if the Company has  obtained  the
written consent of the holders of Warrants  representing  66.7% of the shares of
Common Stock obtainable upon exercise of the Warrants then outstanding; provided
that no such action may increase  the Warrant  Exercise  Price of the  Warrants,
decrease the number of shares or class of stock  obtainable upon exercise of any
Warrants,  or otherwise  materially adversely effect the rights of the holder of
this Warrant without the written consent of such holder.

         14. DESCRIPTIVE HEADINGS; GOVERNING LAW; JURISDICTION.  The descriptive
headings of the several Sections and paragraphs of this Warrant are inserted for
convenience  only and do not  constitute a part of this  Warrant.  The corporate
laws of the State of New York shall  govern all issues  concerning  the relative
rights of the Company and its stockholders.  All other questions  concerning the
construction,  validity, enforcement and interpretation of this Warrant shall be
governed by the internal laws of the State of New York, without giving effect to
any choice of law or conflict of law  provision or rule (whether of the State of
New York, or any other  jurisdictions)  that would cause the  application of the
laws of any jurisdictions  other than the State of New York. Each of the parties
hereto irrevocably consents and submits to the nonexclusive  jurisdiction of the
Supreme Court of the State of New York and the United States  District Court for
the Southern District of New York in connection with any proceeding  arising out
of or relating to this  Warrant,  waives any objection to venue in the County of
New York,  State of New York, or such  District,  and agrees that service of any
summons,  complaint,  notice of other process relating to such proceeding may be
effected in the manner provided by Section 10 hereof.

         15.  RESTRICTION  ON EXERCISE OF WARRANT.  Notwithstanding  anything in
this Warrant to the contrary,  this Warrant may not be exercised until such time
as the  shareholders of the Corporation have approved the issuance of the shares
of Common Stock  issuable upon  exercise of this Warrant in accordance  with the
applicable corporate governance rules of the Nasdaq Stock Market relating to the
sale or issuance of common stock, or securities convertible into, or exercisable
for,  common  stock,  equal to 20% or more of the common  stock or voting  power
outstanding immediately preceding such issuance

                            [Signature Page Follows]

                                       13
<PAGE>

                                       SKYMALL, INC.

                                       By: ____________________________________

                                       Name: __________________________________

                                       Title:  ________________________________

                                       14

<PAGE>

                              EXHIBIT A TO WARRANT
                                SUBSCRIPTION FORM
        TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT
                                  SKYMALL, INC.

         The  undersigned   holder  hereby   exercises  the  right  to  purchase
_________________  of the shares of Common Stock ("Warrant  Shares") of SkyMall,
Inc., a Nevada  corporation (the  "Company"),  evidenced by the attached Warrant
(the "Warrant").  Capitalized  terms used herein and not otherwise defined shall
have the respective meanings set forth in the Warrant.

         1. Form of Warrant  Exercise Price.  The Holder intends that payment of
the Warrant Exercise Price shall be made as:

            ____________  a "CASH EXERCISE" with respect to ____________________
                          Warrant Shares; and/or

            ____________  a "CASHLESS  EXERCISE" with respect to _______________
                          Warrant Shares (to the  extent  permitted by the terms
                          of the Warrant).

         2. Payment of Warrant  Exercise Price. In the event that the holder has
elected a Cash Exercise with respect to some or all of the Warrant  Shares to be
issued pursuant hereto, the holder shall pay the sum of  $___________________ to
the Company in accordance with the terms of the Warrant.

         3. Delivery of Warrant Shares.  The Company shall deliver to the holder
__________ Warrant Shares in accordance with the terms of the Warrant.

Date: _______________ __, ______

________________________________
   Name of Registered Holder

By: ____________________________
    Name:
    Title:

                                       A-1
<PAGE>

                              EXHIBIT B TO WARRANT

                              FORM OF WARRANT POWER

FOR  VALUE  RECEIVED,  the  undersigned  does  hereby  assign  and  transfer  to
________________,  Federal Identification No. __________,  a warrant to purchase
____________ shares of the capital stock of SkyMall, Inc., a Nevada corporation,
represented  by  warrant  certificate  no.  _____,  standing  in the name of the
undersigned  on the  books of said  corporation.  The  undersigned  does  hereby
irrevocably  constitute  and appoint  ______________,  attorney to transfer  the
warrants of said corporation, with full power of substitution in the premises.

Dated:  _________________, ____

                                          ______________________________________

                                          By:  _________________________________

                                          Its: _________________________________

                                       B-1
<PAGE>

                              EXHIBIT C TO WARRANT

                            FORM OF AFFIDAVIT OF LOSS

STATE OF                   )
                           ) ss:
COUNTY OF                  )

     The undersigned  (hereinafter  "Deponent"),  being duly sworn,  deposes and
says that:

     1. Deponent is an adult whose mailing address is:

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

     2.  Deponent is the  recipient of a Warrant (the  "Warrant")  from SkyMall,
Inc. (the "Company"), dated ___________________________________ for the purchase
of  ___________________________________  shares of Common Stock, par value $.001
per share,  of the Company,  at an exercise price of  $_________________________
per share. 3. The Warrant has been lost, stolen,  destroyed or misplaced,  under
the following circumstances:

     4. The Warrant was not endorsed.

     5. Deponent has made a diligent search for the Warrant, and has been unable
to find or recover same, and Deponent was the unconditional owner of the Warrant
at the time of loss,  and is  entitled  to the  full  and  exclusive  possession
thereof;  that neither the Warrant nor the rights of Deponent  therein  have, in
whole or in part, been assigned, transferred, hypothecated, pledged or otherwise
disposed of, in any manner whatsoever,  and that no person,  firm or corporation
other than the Deponent has any right,  title, claim, equity or interest in, to,
or respecting  the Warrant.

                                       C-1
<PAGE>

     6. Deponent makes this Affidavit for the purpose of requesting and inducing
the  Company  and its  agents to issue a new  warrant  in  substitution  for the
Warrant.

     7. If the Warrant should ever come into the hands,  custody or power of the
Deponent or the Deponent's representatives, agents or assigns, the Deponent will
immediately and without consideration  surrender the Warrant to the Company, its
representatives,  agents or assigns,  its transfer agents or subscription agents
for cancellation.

     8. The Deponent hereby  indemnifies and holds harmless the Company from any
claim or demand for payment or  reimbursement of any party arising in connection
with the subject matter of this Affidavit.

Signed, sealed and dated:  _________________________

                                             ___________________________________
                                             Deponent

Sworn to and subscribed before me this
____ day of _____________, _________

______________________________________
Notary Public

                                      C-2Exhibit 4.4

--------------------------------------------------------------------------------

                                  SKYMALL, INC.

                                       AND

                            ________________________

                                PLACEMENT AGENT'S

                                WARRANT AGREEMENT

                          DATED AS OF _________, 1999

--------------------------------------------------------------------------------

     PLACEMENT  AGENT'S WARRANT  AGREEMENT  dated as of _________,  1999 between
SKYMALL,     INC.,    a    Nevada     corporation    (the    "Company"),     and
_________________________  (hereinafter  referred to variously as the  "Holder",
"_________" or the "Placement Agent").

                              W I T N E S S E T H:

     WHEREAS,  the Company proposes to issue to _______________ or its designees
warrants  ("Warrants") to purchase up to an aggregate _________ shares of common
stock of the Company ("Common Stock"); and

     WHEREAS, _______________ has agreed pursuant to a Placement Agent agreement
(the "Placement Agent's Agreement") dated August 2, 1999 and amended October 25,
1999 between  _______________ (the "Placement Agent"), and the Company to act as
Placement Agent to the Company; and

     WHEREAS,   the  Company  proposes  to  issue  to  _______________   (and/or
designees)  the  Warrants  in  connection  with  payment for  Placement  Agent's
services;

     NOW,  THEREFORE,   in  consideration  of  the  premises,   the  payment  by
___________  to the Company of an  aggregate of six dollars and ninety one cents
($6.91),   the  agreements   herein  set  forth  and  other  good  and  valuable
consideration, hereby acknowledged, the parties hereto agree as follows:

<PAGE>

     1.   GRANT. __________ is hereby granted the right to purchase, at any time
from __________, 1999,  until 5:30 P.M.,  New York time, on __________, 2004, up
to an aggregate  of  _____________  shares of Common Stock (the  "Shares") at an
initial  exercise  price (subject to adjustment as provided in SECTION 8 hereof)
of $7.00 per share of Common Stock  subject to the terms and  conditions of this
Agreement.  Except as set forth herein, the Shares issuable upon exercise of the
Warrants are in all  respects  identical to the shares of Common Stock that have
been issued to the public.

     2.   WARRANT  CERTIFICATES.   The  warrant   certificates   (the   "Warrant
Certificates") delivered and to be delivered pursuant to this Agreement shall be
in the form set forth in Exhibit A, attached hereto and made a part hereof, with
such appropriate insertions,  omissions,  substitutions, and other variations as
required or permitted by this Agreement.

     3.   EXERCISE OF WARRANT.

          3.1 METHOD OF EXERCISE.  The Warrants  initially are exercisable at an
aggregate  initial exercisE price per share of Common Stock set forth in SECTION
6 hereof  payable by certified or official bank check in New York Clearing House
funds,  subject to adjustment as provided in SECTION 8 hereof. Upon surrender of
a Warrant  Certificate  with the  annexed  Form of  Election  to  Purchase  duly
executed,  together with payment of the Exercise Price (as hereinafter  defined)
for the shares of Common Stock purchased at the Company's  principal  offices in
Phoenix,  Arizona (presently located at 1520 East Pima Street, Phoenix,  Arizona
85034) the  registered  holder of a Warrant  Certificate  ("Holder" or "Holder")
shall be entitled to receive a  certificate  or  certificates  for the shares of
Common Stock so  purchased.  The  purchase  rights  represented  by each Warrant
Certificate are exercisable at the option of the Holder thereof,  in whole or in
part  (but not as to  fractional  shares  of the  Common  Stock  underlying  the
Warrants).  Warrants  may be  exercised to purchase all or part of the shares of
Common Stock represented  thereby.  In the case of the purchase of less than all
the  shares of Common  Stock  purchasable  under any  Warrant  Certificate,  the
Company shall cancel said Warrant  Certificate  upon the  surrender  thereof and
shall  execute  and  deliver a new  Warrant  Certificate  of like  tenor for the
balance of the shares of Common Stock purchasable thereunder.

          3.2  EXERCISE BY  SURRENDER  OF WARRANT.  In addition to the method of
payment  set  forth  in  SECTION  3.1 and in lieu of any cash  payment  required
thereunder,  the Holder(s) of the Warrants  shall have the right at any time and
from time to time to exercise  the  Warrants in full or in part by  surrendering
the Warrant  Certificate in the manner  specified in SECTION 3.1 in exchange for
the  number of Shares  equal to the  product  of (x) the  number of Shares as to
which the  Warrants  are  being  exercised  multiplied  by (y) a  fraction,  the
numerator  of which is the Market Price (as defined in SECTION 3.3 below) of the
Shares  less the  Exercise  Price and the  denominator  of which is such  Market
Price.  Solely  for the  purposes  of this  paragraph,  Market  Price  shall  be
calculated  either (i) on the date which the form of election attached hereto is
deemed to have been sent to the Company  pursuant to SECTION 13 hereof  ("Notice
Date") or (ii) as the average of the Market  Prices for each of the five trading
days preceding the Notice Date, whichever of (i) or (ii) is greater.

          3.3  DEFINITION OF MARKET PRICE.  As used herein,  the phrase  "Market
Price" at any date shall bE deemed to be the last  reported  sale price,  or, in

                                       2
<PAGE>

case no such  reported  sale takes  place on such day,  the  average of the last
reported  sale  prices for the last three (3)  trading  days,  in either case as
officially  reported by the  principal  securities  exchange on which the Common
Stock is listed or admitted to trading or by the Nasdaq National Market ("NNM"),
or, if the Common  Stock is not listed or  admitted  to trading on any  national
securities  exchanged  or  quoted  by NNM,  the  average  closing  bid  price as
furnished  by the NASD through NNM or similar  organization  if NNM is no longer
reporting  such  information,  or if the Common  Stock is not quoted on NNM,  as
determined in good faith by resolution of the Board of Directors of the Company,
based on the best information available to it.

         4.   ISSUANCE OF CERTIFICATES.  Upon the exercise of the Warrants, the
issuance of  certificates  for shares of Common Stock  and/or other  securities,
properties or rights  underlying such Warrants,  shall be made forthwith (and in
any event within five (5) business days thereafter) without charge to the Holder
thereof including,  without limitation,  any tax which may be payable in respect
of the issuance thereof,  and such certificates shall (subject to the provisions
of SECTIONS 5 and 7 hereof) be issued in the name of, or in such names as may be
directed by, the Holder thereof;  provided,  however, that the Company shall not
be  required  to pay any tax which may be payable  in  respect  of any  transfer
involved in the issuance and delivery of any such  certificates  in a name other
than that of the  Holder,  and the  Company  shall not be  required  to issue or
deliver such certificates  unless or until the person or persons  requesting the
issuance  thereof shall have paid to the Company the amount of such tax or shall
have established to the satisfaction of the Company that such tax has been paid.

          The Warrant Certificates and the certificates  representing the Shares
underlying the Warrants  (and/or other  securities,  property or rights issuable
upon the exercise of the Warrants) shall be executed on behalf of the Company by
the manual or facsimile  signature of the then  Chairman or Vice Chairman of the
Board of  Directors or  President  or Vice  President  of the  Company.  Warrant
Certificates  shall be dated the date of  execution  by the Company upon initial
issuance, division, exchange, substitution or transfer.

          5.   RESTRICTION  ON  TRANSFER  OF  WARRANTS.  The Holder of a Warrant
Certificate,  by its acceptance thereof,  covenants and agrees that the Warrants
are being  acquired  as an  investment  and not with a view to the  distribution
thereof, except to officers or employees of the Holder.

          6.   EXERCISE PRICE.

               6.1  INITIAL AND  ADJUSTED  EXERCISE  PRICE.  Except as otherwise
provided in SECTION 8 hereof,  thE initial  exercise price of each Warrant shall
be $8.10 per share of Common  Stock.  The adjusted  exercise  price shall be the
price which shall result from time to time from any and all  adjustments  of the
initial  exercise  price in accordance  with the provisions of SECTION 8 hereof.
Any transfer of a Warrant shall constitute an automatic  transfer and assignment
of the  registration  rights  set forth in SECTION 7 hereof  with  regard to the
Common Stock, properties or rights underlying the Warrants.

               6.2  EXERCISE PRICE.  The term "Exercise Price" herein shall mean
the initial  exercise price or the adjusted  exercise price,  depending upon the
context.

                                       3
<PAGE>

          7.   REGISTRATION RIGHTS.

               7.1  PIGGYBACK REGISTRATION. If, at any time commencing after the
date hereof and expiring  seven (7) years from the effective  date,  the Company
proposes to register any of its equity  securities  under the Act (other than in
connection  with a merger or pursuant  to Form S-8 or S-4) it will give  written
notice by registered mail, at least thirty (30) days prior to the filing of each
such registration  statement,  to ____________ and to all other Holder(s) of the
Warrants  and/or  the  Warrant   Securities  of  its  intention  to  do  so.  If
_______________  or other  Holder(s) of the Warrants  and/or Warrant  Securities
notify the Company  within  twenty (20)  business days after receipt of any such
notice of its or their desire to include any such  securities  in such  proposed
registration statement, the Company shall afford ____________ and such Holder(s)
of the Warrants  and/or  Warrant  Securities  the  opportunity  to have any such
Warrant  Securities  registered  under such  registration  statement  (sometimes
referred to herein as the "Piggyback Registration").

               Notwithstanding  the  provisions of this SECTION 7.1, the Company
shall  have the  right at any time  after it shall  have  given  written  notice
pursuant to this  SECTION  7.1  (irrespective  of whether a written  request for
inclusion of any such securities  shall have been made) to elect not to file any
such proposed registration  statement,  or to withdraw the same after the filing
but prior to the effective date thereof.

               If  a  Piggyback   Registration   is  an   underwritten   primary
registration on behalf of the Company, and the managing  underwriters advise the
Company in writing that in their reasonable opinion based upon market conditions
the number of securities  requested to be included in such registration  exceeds
the number  which can be sold in such  offering the Company will include in such
registration  (i) first,  the  securities  the Company  proposes  to sell,  (ii)
second,  the Warrant  Securities  requested to be included in such registration,
pro rata  among the  Holders  of such  Warrant  Securities,  on the basis of the
number of shares  requested  by such  holders to be  included,  and (iii) third,
other securities to be included in such registration.

               7.2  DEMAND REGISTRATION.

               (a)  At any time  after the date  hereof  and  expiring  five (5)
years  from the  effective  date,  the  Holder of the  Warrants  and/or  Warrant
Securities representing a "Majority" (as hereinafter defined) of such securities
(assuming the exercise of all of the Warrants) shall have the right (which right
is in addition to the registration rights under SECTION 7.1 hereof), exercisable
by written notice to the Company,  to have the Company prepare and file with the
Securities  and Exchange  Commission  (the  "Commission"),  on one  occasion,  a
registration statement and such other documents,  including a prospectus, as may
be  necessary  in the  opinion of both  counsel  for the Company and counsel for
_______________  and Holder,  in order to comply with the provisions of the Act,
so as to  permit  a  public  offering  and  sale  of  their  respective  Warrant
Securities for nine (9)  consecutive  months by such Holder and any other Holder
of the Warrants and/or Warrant Securities who notify the Company within ten (10)
days after receiving notice from the Company of such request.

               (b)  The Company  covenants and agrees to give written  notice of
any  registration  request  under this SECTION 7.2 by any Holder or Holder(s) to
all other registered Holder(s) of the Warrants and the Warrant Securities within
ten (10) days from the date of the receipt of any such registration request.

                                       4
<PAGE>

               (c)  In addition to the registration rights under SECTION 7.1 and
subsection (a) of this SECTION 7.2, at any time commencing after the date hereof
and  expiring  five (5) years from the  effective  date,  any Holder of Warrants
and/or Warrant  Securities shall have the right,  exercisable by written request
to the Company, to have the Company prepare and file, on one occasion,  with the
Commission a registration  statement so as to permit a public  offering and sale
for nine (9)  consecutive  months by any such Holder of its Warrant  Securities,
provided,  however, that the provisions of SECTION 7.3(b) hereof shall not apply
to any such registration request and registration and all costs incident thereto
shall be at the expense of the Holder or Holders making such request.

               (d)  Notwithstanding  anything to the contrary  contained herein,
if the Company  shall not have filed a  registration  statement  for the Warrant
Securities within the time period specified in SECTION 7.3(a) hereof pursuant to
the written  notice  specified in SECTION 7.2(a) of a Majority of the Holders of
the Warrants and/or Warrant Securities,  the Company shall have the option, upon
the written  notice of  election  of a Majority  of the Holders of the  Warrants
and/or Warrant  Securities,  to repurchase (i) any and all Warrant Securities at
the higher of the Market  Price per share of Common Stock on (x) the date of the
notice  sent  pursuant  to SECTION  7.2(a) or (y) the  expiration  of the period
specified  in SECTION  7.3(a) and (ii) any and all Warrants at such Market Price
less the Exercise Price of such Warrant. Such repurchase shall be in immediately
available  funds and shall close  within two (2) days after the later of (i) the
expiration of the period specified in SECTION 7.3(a) or (ii) the delivery of the
written notice of election  specified in this SECTION 7.2(d).  The Company shall
have no  obligation  to exercise the option that may be granted  pursuant to the
terms of this paragraph (d) of SECTION 7.2 hereof.

               7.3  COVENANTS OF THE COMPANY WITH  RESPECT TO  REGISTRATION.  In
connection with any  registration  under SECTION 7.1 or 7.2 hereof,  the Company
covenants and agrees as follows:

               (a)  The   Company   shall  use  its  best   efforts  to  file  a
registration  statement  within  thirty  (30)  days  of  receipt  of any  demand
therefor,  shall  use its  best  efforts  to have  any  registration  statements
declared  effective at the earliest possible time, and shall furnish each Holder
desiring  to sell  Warrant  Securities  such  number  of  prospectuses  as shall
reasonably be requested.

               (b)  The Company shall pay all costs (excluding fees and expenses
of Holder(s)'  counsel and any  underwriting or selling  commissions),  fees and
expenses  in  connection  with all  registration  statements  filed  pursuant to
SECTIONS 7.1 and 7.2(a)  hereof  including,  without  limitation,  the Company's
legal and accounting fees,  printing expenses,  blue sky fees and expenses.  The
Holder(s)  will  pay all  costs,  fees  and  expenses  in  connection  with  any
registration  statement filed pursuant to SECTION  7.2(c).  If the Company shall
fail to comply with the  provisions of SECTION  7.3(a),  the Company  shall,  in
addition to any other equitable or other relief  available to the Holder(s),  be
liable for any or all incidental or special  damages  sustained by the Holder(s)
requesting registration of their Warrant Securities.

               (c)  The  Company  will take all  necessary  action  which may be
required in  qualifying  or  registering  the Warrant  Securities  included in a
registration  statement  for offering and sale under the  securities or blue sky
laws of such states as reasonably are requested by the Holder(s),  provided that

                                       5
<PAGE>

the Company  shall not be  obligated  to execute or file any general  consent to
service of process or to qualify as a foreign  corporation  to do business under
the laws of any such jurisdiction.

               (d)  The Company  shall  indemnify  the  Holder(s) of the Warrant
Securities to be sold pursuant to any registration statement and each person, if
any,  who  controls  such Holder  within the meaning of SECTION 15 of the Act or
SECTION 20(a) of the Securities  Exchange Act of 1934, as amended (the "Exchange
Act"),  against all loss,  claim,  damage,  expense or liability  (including all
expenses  reasonably  incurred in investigating,  preparing or defending against
any claim whatsoever) to which any of them may become subject under the Act, the
Exchange Act or otherwise, arising from such registration statement.

               (e)  The Holder(s) of the Warrant  Securities to be sold pursuant
to a registration statement,  and their successors and assigns, shall severally,
and not jointly,  indemnify  the Company,  its officers and  directors  and each
person, if any, who controls the Company within the meaning of SECTION 15 of the
Act or SECTION 20(a) of the Exchange  Act,  against all loss,  claim,  damage or
expense  or   liability   (including   all  expenses   reasonably   incurred  in
investigating,  preparing or defending  against any claim  whatsoever)  to which
they may become  subject under the Act, the Exchange Act or  otherwise,  arising
from information  furnished by or on behalf of such Holder,  or their successors
or assigns, for specific inclusion in such registration statement.

               (f)  Nothing  contained in this  Agreement  shall be construed as
requiring the Holder(s) to exercise  their  Warrants prior to the initial filing
of any registration statement or the effectiveness thereof.

               (g)  The Company shall not permit the inclusion of any securities
other than the Warrant  Securities to be included in any registration  statement
filed pursuant to SECTION 7.2 hereof,  without the prior written  consent of the
Holder(s) of the Warrants and Warrant Securities representing a Majority of such
securities.

               (h)  The Company  shall furnish to each Holder  participating  in
the offering and to each underwriter, if any, a signed counterpart, addressed to
such Holder or underwriter,  of (i) an opinion of counsel to the Company,  dated
the effective date of such  registration  statement  (and, if such  registration
includes  an  underwritten  public  offering,  an opinion  dated the date of the
closing under the  underwriting  agreement),  and (ii) a "cold  comfort"  letter
dated  the  effective  date  of  such  registration   statement  (and,  if  such
registration  includes an underwritten public offering,  a letter dated the date
of the  closing  under the  underwriting  agreement)  signed by the  independent
public  accountants  who  have  issued  a  report  on  the  Company's  financial
statements  included  in such  registration  statement,  in each  case  covering
substantially the same matters with respect to such registration  statement (and
the prospectus  included therein) and, in the case of such accountants'  letter,
with respect to events subsequent to the date of such financial  statements,  as
are  customarily  covered in opinions of  issuer's  counsel and in  accountants'
letters   delivered  to  underwriters  in  underwritten   public   offerings  of
securities.

               (i)  The Company shall as soon as practicable after the effective
date  of  the  registration  statement,  and  in  any  event  within  15  months
thereafter,  make  "generally  available  to its security  holders"  (within the

                                       6
<PAGE>

meaning  of Rule 158 under the Act) an  earnings  statement  (which  need not be
audited)  complying  with  SECTION  11(a) of the Act and covering a period of at
least  12  consecutive   months  beginning  after  the  effective  date  of  the
registration statement.

               (j)  The   Company   shall   deliver   promptly  to  each  Holder
participating  in the  offering  requesting  the  correspondence  and  memoranda
described below and to the managing  underwriters,  copies of all correspondence
between  the  Commission  and the  Company,  its  counsel  or  auditors  and all
memoranda  relating to discussions with the Commission or its staff with respect
to the registration statement and permit each Holder and underwriters to do such
investigation,  upon  reasonable  advance  notice,  with respect to  information
contained in or omitted from the  registration  statement as it deems reasonably
necessary  to comply with  applicable  securities  laws or rules of the National
Association of Securities  Dealers,  Inc.  ("NASD").  Such  investigation  shall
include access to books, records and properties and opportunities to discuss the
business of the Company with its officers and independent auditors,  all to such
reasonable  extent and at such reasonable  times and as often as any such Holder
or underwriter shall reasonably request.

               (k)  The Company shall enter into an underwriting  agreement with
the managing  underwriters selected for such underwriting by Holder(s) holding a
Majority  of  the  Warrant   Securities   requested   to  be  included  in  such
underwriting,  which may be ___________. Such agreement shall be satisfactory in
form and substance to the Company,  each Holder and such managing  underwriters,
and shall contain such representations,  warranties and covenants by the Company
and such other terms as are  customarily  contained in  agreements  of that type
used  by the  managing  underwriter.  The  Holder(s)  shall  be  parties  to any
underwriting  agreement  relating  to an  underwritten  sale  of  their  Warrant
Securities   and  may,   at  their   option,   require   that  any  or  all  the
representations,  warranties  and covenants of the Company to or for the benefit
of  such  underwriters  shall  also be  made  to and  for  the  benefit  of such
Holder(s).  Such Holder(s) shall not be required to make any  representations or
warranties to or agreements with the Company or the underwriters  except as they
may relate to such Holder(s) and their intended methods of distribution.

               (l)  In  addition  to the  Warrant  Securities,  upon the written
request therefor by any Holder(s), the Company shall include in the registration
statement any other  securities of the Company held by such  Holder(s) as of the
date of filing of such  registration  statement,  including  without  limitation
restricted  shares of Common Stock,  options,  warrants or any other  securities
convertible into shares of Common Stock.

               (m)  For  purposes  of this  Agreement,  the term  "Majority"  in
reference  to the  Holder(s)  of Warrants or Warrant  Securities,  shall mean in
excess  of fifty  percent  (50%) of the then  outstanding  Warrants  or  Warrant
Securities  that  (i)  are not  held  by the  Company,  an  affiliate,  officer,
creditor,  employee  or agent  thereof  or any of their  respective  affiliates,
members of their family,  persons acting as nominees or in conjunction therewith
and (ii) have not been resold to the public pursuant to a registration statement
filed with the Commission under the Act.

                                       7
<PAGE>

     8.   ADJUSTMENTS TO EXERCISE PRICE AND NUMBER OF SECURITIES.

          8.1  SUBDIVISION  AND  COMBINATION.  In case the Company  shall at any
time subdivide or combine thE outstanding  shares of Common Stock,  the Exercise
Price shall forthwith be proportionately decreased in the case of subdivision or
increased in the case of combination.

          8.2  STOCK DIVIDENDS AND DISTRIBUTIONS.  In case the Company shall pay
a  dividend  in, or make A  distribution  of,  shares of Common  Stock or of the
Company's  capital stock convertible into Common Stock, the Exercise Price shall
forthwith be  proportionately  decreased.  An  adjustment  made pursuant to this
SECTION 8.2 shall be made as of the record date for the subject  stock  dividend
or distribution.

          8.3  ADJUSTMENT IN NUMBER OF SECURITIES.  Upon each  adjustment of the
Exercise  Price  pursuant  to the  provisions  of this  SECTION 8, the number of
Warrant Securities  issuable upon the exercise at the adjusted exercise price of
each  Warrant  shall be  adjusted to the nearest  full amount by  multiplying  a
number  equal  to the  Exercise  Price  in  effect  immediately  prior  to  such
adjustment  by the number of Warrant  Securities  issuable  upon exercise of the
Warrants  immediately  prior to such  adjustment  and  dividing  the  product so
obtained by the adjusted Exercise Price.

          8.4  DEFINITION  OF COMMON STOCK.  For the purpose of this  Agreement,
the term "Common  Stock" shalL mean (i) the class of stock  designated as Common
Stock in the  Articles of  Incorporation  of the Company as may be amended as of
the date  hereof,  or (ii) any other class of stock  resulting  from  successive
changes or  reclassifications  of such Common Stock consisting solely of changes
in par  value,  or from par value to no par  value,  or from no par value to par
value.

          8.5  MERGER  OR  CONSOLIDATION.  In case of any  consolidation  of the
Company  with,  or merger of thE Company  with,  or merger of the Company  into,
another  corporation (other than a consolidation or merger which does not result
in  any  reclassification  or  change  of the  outstanding  Common  Stock),  the
corporation  formed by such consolidation or merger shall execute and deliver to
the Holder a supplemental  warrant  agreement  providing that the holder of each
Warrant then  outstanding or to be outstanding  shall have the right  thereafter
(until the  expiration  of such  Warrant)  to  receive,  upon  exercise  of such
warrant,  the kind and  amount  of shares  of stock  and  other  securities  and
property receivable upon such consolidation or merger, by a holder of the number
of shares of Common Stock of the Company for which such warrant  might have been
exercised  immediately prior to such  consolidation,  merger,  sale or transfer.
Such supplemental warrant agreement shall provide for adjustments which shall be
identical to the adjustments  provided in SECTION 8. The above provision of this
subsection shall similarly apply to successive consolidations or mergers.

          8.6  NO ADJUSTMENT OF EXERCISE PRICE IN CERTAIN  CASES.  No adjustment
of the Exercise Price shall be made:

          (a)  Upon the issuance or sale of the Warrants or the shares of Common
Stock issuable upon the exercise of the Warrants;

                                       8
<PAGE>

          (b)  If the  amount  of said  adjustment  shall be less than two cents
(2(cent))  per  WarRAnt  Security,  provided,  however,  that in such  case  any
adjustment  that would  otherwise  be required  then to be made shall be carried
forward and shall be made at the time of and together  with the next  subsequent
adjustment which, together with any adjustment so carried forward,  shall amount
to at least two cents (2(cent)) per Warrant Security.

          9.   EXCHANGE AND  REPLACEMENT OF WARRANT  CERTIFICATES.  Each Warrant
Certificate is exchangeable  without expense,  upon the surrender thereof by the
registered  Holder at the principal  executive office of the Company,  for a new
Warrant  Certificate  of like tenor and date  representing  in the aggregate the
right to purchase the same number of Warrant Securities in such denominations as
shall be designated by the Holder thereof at the time of such surrender.

          Upon receipt by the Company of evidence reasonably  satisfactory to it
of the loss, theft,  destruction or mutilation of any Warrant Certificate,  and,
in case of loss,  theft or  destruction,  of  indemnity  or security  reasonably
satisfactory to it, and reimbursement to the Company of all reasonable  expenses
incidental  thereto,  and upon surrender and  cancellation  of the Warrants,  if
mutilated,  the Company will make and deliver a new Warrant  Certificate of like
tenor, in lieu thereof.

          10.  ELIMINATION  OF  FRACTIONAL  INTERESTS.  The Company shall not be
required to issue certificates  representing fractions of shares of Common Stock
upon the  exercise of the  Warrants,  nor shall it be required to issue scrip or
pay cash in lieu of  fractional  interests,  it being the intent of the  parties
that all fractional interests shall be eliminated by rounding any fraction up to
the  nearest  whole  number  of  shares  of  Common  Stock or other  securities,
properties or rights.

          11.  RESERVATION  AND LISTING OF SECURITIES.  The Company shall at all
times reserve and keep available out of its  authorized  shares of Common Stock,
solely for the  purpose of issuance  upon the  exercise  of the  Warrants,  such
number of shares of Common Stock or other  securities,  properties  or rights as
shall be issuable upon the exercise  thereof.  The Company  covenants and agrees
that,  upon exercise of the Warrants and payment of the Exercise Price therefor,
all shares of Common  Stock and other  securities  issuable  upon such  exercise
shall be duly and validly issued, fully paid,  non-assessable and not subject to
the  preemptive  rights of any  stockholder.  As long as the  Warrants  shall be
outstanding,  the  Company  shall use its best  efforts  to cause all  shares of
Common Stock issuable upon the exercise of the Warrants to be listed (subject to
official  notice of  issuance) on all  securities  exchanges on which the Common
Stock  issued to the public in  connection  herewith  may then be listed  and/or
quoted.

          12.  NOTICES TO WARRANT  HOLDER.  Nothing  contained in this Agreement
shall be construed as conferring upon the Holder the right to vote or to consent
or to receive notice as a stockholder in respect of any meetings of stockholders
for the  election  of  directors  or any other  matter,  or as having any rights
whatsoever as a stockholder of the Company.  If,  however,  at any time prior to
the expiration of the Warrants and their exercise,  any of the following  events
shall occur:

          (a)  the  Company  shall take a record of the holders of its shares of
Common  Stock  for the  purpose  of  entitling  them to  receive a  dividend  or
distribution  payable otherwise than in cash, or a cash dividend or distribution
payable otherwise than out of current or retained earnings,  as indicated by the
accounting  treatment  of such  dividend  or  distribution  on the  books of the
Company; or

                                       9
<PAGE>

          (b)  the Company  shall  offer to all the holders of its Common  Stock
any additional shares of capital stock of the Company or securities  convertible
into or exchangeable for shares of capital stock of the Company,  or any option,
right or warrant to subscribe therefor; or

          (c)  a  dissolution,  liquidation  or winding up of the Company (other
than  in  connection  with  a  consolidation  or  merger)  or a  sale  of all or
substantially  all of its property,  assets and business as an entirety shall be
proposed;

then, in any one or more of said events,  the Company shall give written  notice
of such  event at least  fifteen  (15) days  prior to the date fixed as a record
date or the date of closing  the  transfer  books for the  determination  of the
stockholders   entitled  to  such   dividend,   distribution,   convertible   or
exchangeable  securities  or  subscription  rights,  or entitled to vote on such
proposed dissolution, liquidation, winding up or sale. Such notice shall specify
such record date or the date of closing the transfer  books, as the case may be.
Failure to give such notice or any defect  therein shall not affect the validity
of any action taken in connection  with the  declaration  or payment of any such
dividend,  or the issuance of any  convertible or  exchangeable  securities,  or
subscription  rights,   options  or  warrants,   or  any  proposed  dissolution,
liquidation, winding up or sale.

          13.  NOTICES. All notices, requests, consents and other communications
hereunder  shall be in  writing  and  shall be deemed to have been duly made and
sent when delivered,  or mailed by registered or certified mail,  return receipt
requested:

          (a)  If to a registered Holder of the Warrants, to the address of such
Holder as shown on the books of the Company; or

          (b)  If to the  Company,  to the address set forth in SECTION 3 hereof
or to such other  address as the Company may  designate by notice to the Holder;
or

          (c)  If to ___________, to __________________________________________,
Attention: ___________________.

          14.  SUPPLEMENTS AND AMENDMENTS.  The Company and  _______________ may
from time to time supplement or amend this Agreement without the approval of any
holder of Warrant  Certificates  (other than  ___________)  in order to cure any
ambiguity,  to correct or supplement any provision contained herein which may be
defective  or  inconsistent  with any  provisions  herein,  or to make any other
provisions in regard to matters or questions arising hereunder which the Company
and  ___________  may deem  necessary  or  desirable  and which the  Company and
___________  deem shall not  adversely  affect the interests of the Holder(s) of
Warrant Certificates.

          15.  SUCCESSORS.  All the covenants and  provisions of this  Agreement
shall be binding upon and inure to the benefit of the Company, the Holder(s) and
their respective successors and assigns hereunder.

                                       10
<PAGE>

          16.  TERMINATION.  This  Agreement  shall  terminate  at the  close of
business on November 4, 2006. Notwithstanding the foregoing, the indemnification
provisions  of  SECTION  7 shall  survive  such  termination  until the close of
business on November 4, 2012.

          17.  GOVERNING  LAW;  SUBMISSION TO  JURISDICTION.  This Agreement and
each Warrant  Certificate issued hereunder shall be deemed to be a contract made
under the laws of the State of New York and for all purposes  shall be construed
in accordance  with the laws of said State without giving effect to the rules of
said State governing the conflicts of laws.

          The  Company, ___________ and the Holder hereby agree that any action,
proceeding  or claim  against it arising out of, or relating in any way to, this
Agreement  shall be brought and  enforced in the courts of the State of New York
or of the United  States of America for the Southern  District of New York,  and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The  Company,  _______________  and the  Holder  hereby  irrevocably  waive  any
objection to such exclusive jurisdiction or inconvenient forum. Any such process
or summons to be served upon any of the Company,  ___________  and the Holder(s)
(at the option of the party  bringing  such action,  proceeding or claim) may be
served by transmitting a copy thereof,  by registered or certified mail,  return
receipt requested,  postage prepaid, addressed to it at the address set forth in
SECTION 13 hereof.  Such mailing shall be deemed  personal  service and shall be
legal and binding upon the party so served in any action,  proceeding  or claim.
The  Company,  _______________  and the  Holder(s)  agree  that  the  prevailing
party(ies)  in any such action or  proceeding  shall be entitled to recover from
the other  party(ies)  all of  its/their  reasonable  legal  costs and  expenses
relating to such action or proceeding  and/or  incurred in  connection  with the
preparation therefor.

          18.  ENTIRE  AGREEMENT;  MODIFICATION.  This  Agreement  contains  the
entire  understanding  between  the parties  hereto with  respect to the subject
matter hereof and may not be modified or amended except by a writing duly signed
by the party  against  whom  enforcement  of the  modification  or  amendment is
sought.

          19.  SEVERABILITY. If any provision of this Agreement shall be held to
be invalid or  unenforceable,  such  invalidity  or  unenforceability  shall not
affect any other provision of this Agreement.

          20.  CAPTIONS.  The caption headings of the Sections of this Agreement
are for  convenience of reference only and are not intended,  nor should they be
construed as, a part of this Agreement and shall be given no substantive effect.

          21.  BENEFITS OF THIS  AGREEMENT.  Nothing in this Agreement  shall be
construed  to give to any  person or  corporation  other  than the  Company  and
____________ and any other registered  Holder(s) of the Warrant  Certificates or
Warrant  Securities  any legal or  equitable  right,  remedy or claim under this
Agreement;  and this Agreement  shall be for the sole benefit of the Company and
___________  and any other  registered  Holder(s)  of  Warrant  Certificates  or
Warrant Securities.

          22.  COUNTERPARTS.  This  Agreement  may be  executed in any number of
counterparts and each of such  counterparts  shall for all purposes be deemed to
be an original,  and such counterparts shall together constitute but one and the
same instrument.

                                       11
<PAGE>

          IN WITNESS  WHEREOF,  the parties hereto have caused this Agreement to
be duly executed, as of the day and year first above written.

                                       SKYMALL, INC.

                                       By: _____________________________________

                                       Name: ___________________________________

                                       Title: __________________________________
Attest:

____________________________________
Secretary

                                       _________________________________________

                                       By: _____________________________________

                                       Name: ___________________________________

                                       Title: __________________________________

                                       12
<PAGE>

                                    EXHIBIT A

                          [FORM OF WARRANT CERTIFICATE]

THE WARRANTS  REPRESENTED BY THIS CERTIFICATE AND THE OTHER SECURITIES  ISSUABLE
UPON  EXERCISE  THEREOF  MAY NOT BE OFFERED OR SOLD  EXCEPT  PURSUANT  TO (i) AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE  "ACT"),  (ii) TO THE  EXTENT  APPLICABLE,  RULE 144  UNDER THE ACT (OR ANY
SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES),  OR (iii)
AN OPINION OF COUNSEL,  IF SUCH  OPINION  SHALL BE  REASONABLY  SATISFACTORY  TO
COUNSEL FOR THE ISSUER,  THAT AN EXEMPTION  FROM  REGISTRATION  UNDER THE ACT IS
AVAILABLE.

THE  TRANSFER OR EXCHANGE OF THE WARRANTS  REPRESENTED  BY THIS  CERTIFICATE  IS
RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT REFERRED TO HEREIN.

                            EXERCISABLE ON OR BEFORE

                   5:30 P.M., NEW YORK TIME, ___________, 2004

No. W-_________ Warrants to Purchase

         ______ Shares of Common Stock

                               WARRANT CERTIFICATE

     This Warrant  Certificate  certifies that , or registered  assigns,  is the
registered  holder of ______  Warrants to purchase  initially,  at any time from
__________, 1999 until 5:30 p.m. New York time on __________, 2004  ("Expiration
Date"), up to (______) __________________________________________ fully-paid and
non-assessable  shares of common  stock,  ("Common  Stock") of SKYMALL,  INC., a
Nevada  corporation  (the  "Company"),  (one share of Common  Stock  referred to
individually  as a  "Security"  and  collectively  as the  "Securities")  at the
initial  exercise price,  subject to adjustment in certain events (the "Exercise
Price"),  of $7.00 per share of Common  Stock  upon  surrender  of this  Warrant
Certificate  and  payment  of the  Exercise  Price at an office or agency of the
Company,  but  subject to the  conditions  set forth  herein and in the  warrant
agreement  dated as of __________, 1999 between the Company,  and  _____________
(the  "Warrant  Agreement").  Payment  of the  Exercise  Price  shall be made by
certified or official bank check in New York Clearing House funds payable to the
order of the Company or by surrender of this Warrant  Certificate  in connection
with an election to purchase pursuant to Section 3.2.

     No  Warrant  may be  exercised  after  5:30  p.m.,  New York  time,  on the
Expiration Date, at which time all Warrants  evidenced hereby,  unless exercised
prior thereto, hereby shall thereafter be void.

                                       A-1
<PAGE>

     The  Warrants  evidenced  by this  Warrant  Certificate  are part of a duly
authorized  issue of Warrants  issued pursuant to the Warrant  Agreement,  which
Warrant Agreement is hereby incorporated by reference in and made a part of this
instrument and is hereby referred to for a description of the rights, limitation
of rights, obligations,  duties and immunities thereunder of the Company and the
holder(s) (the words "holder" or  "holder(s)"  meaning the registered  holder or
registered holder(s)) of the Warrants.

     The Warrant  Agreement  provides that upon the occurrence of certain events
the  Exercise  Price  and the type  and/or  number of the  Company's  securities
issuable  thereupon may,  subject to certain  conditions,  be adjusted.  In such
event,  the Company  will,  at the  request of the  holder,  issue a new Warrant
Certificate  evidencing  the  adjustment  in the  Exercise  Price and the number
and/or type of securities issuable upon the exercise of the Warrants;  provided,
however,  that the failure of the Company to issue such new Warrant Certificates
shall not in any way  change,  alter,  or  otherwise  impair,  the rights of the
holder as set forth in the Warrant Agreement.

     Upon  due  presentment  for   registration  of  transfer  of  this  Warrant
Certificate at an office or agency of the Company, a new Warrant  Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number
of Warrants  shall be issued to the  transferee(s)  in exchange for this Warrant
Certificate,  subject to the  limitations  provided  herein  and in the  Warrant
Agreement,  without any charge except for any tax or other  governmental  charge
imposed in connection with such transfer.

     Upon the  exercise  of less  than  all of the  Warrants  evidenced  by this
Certificate,  the  Company  shall  forthwith  issue to the  holder  hereof a new
Warrant Certificate representing such number of unexercised Warrants.

     The  Company  may deem and treat  the  registered  holder(s)  hereof as the
absolute owner(s) of this Warrant Certificate  (notwithstanding  any notation of
ownership  or other  writing  hereon  made by  anyone),  for the  purpose of any
exercise hereof,  and of any distribution to the holder(s)  hereof,  and for all
other  purposes,  and the  Company  shall not be  affected  by any notice to the
contrary.

     All  terms  used in this  Warrant  Certificate,  which are  defined  in the
Warrant  Agreement,  shall have the  meanings  assigned  to them in the  Warrant
Agreement.

                                      A-2
<PAGE>

     IN WITNESS WHEREOF,  the Company has caused this Warrant  Certificate to be
duly executed under its corporate seal.

Dated as of ___________, 1999

                                       SKYMALL, INC.

[SEAL]

                                       By: _____________________________________

                                       Name: ___________________________________

                                       Title: __________________________________
Attest:

____________________________________
Secretary

                                      A-3

<PAGE>

             [FORM OF ELECTION TO PURCHASE PURSUANT TO SECTION 3.1]

     The  undersigned   hereby   irrevocably   elects  to  exercise  the  right,
represented by this Warrant Certificate, to purchase:

                        ________ shares of Common Stock;

and herewith tenders in payment for such securities a certified or official bank
check payable in New York Clearing House Funds to the order of SkyMall,  Inc. in
the  amount  of $ , all in  accordance  with  the  terms of  Section  3.1 of the
Placement  Agent's  Warrant  Agreement  dated as of  ___________,  1999  between
SkyMall,  Inc.  and  ______________________.  The  undersigned  requests  that a
certificate  for such  securities  be registered in the name of whose address is
and that such Certificate be delivered to  ______________________  whose address
is ___________________.

Dated:

     Signature  _____________________________

     (Signature  must  conform in all respects to name of holder as specified on
the face of the Warrant Certificate.)

     ___________________________________
    (Insert Social Security or Other Identifying Number of Holder)

                                      A-4
<PAGE>

             [FORM OF ELECTION TO PURCHASE PURSUANT TO SECTION 3.2]

     The  undersigned   hereby   irrevocably   elects  to  exercise  the  right,
represented by this Warrant  Certificate,  to purchase shares of Common Stock of
SKYMALL,  INC.,  in  accordance  with the terms of Section  3.2 of that  certain
Warrant  Agreement  dated as of  November  4, 1999  between  Skymall,  Inc.  and
_______________   and   herewith   tenders  in  payment   for  such   securities
__________________________ Warrants. The undersigned requests that a certificate
for such  securities  be  registered  in the name of  __________________________
whose  address  is   ___________________________________________and   that  such
Certificate  be  delivered  to  ___________________________   whose  address  is
___________________________.

Dated: _________________________________

Signature: _______________________________________
           (Signature must conform in all respects
           to name of Holder as specified on the
           face of the Warrant Certificate).

___________________________________________________
(Insert Social Security or Other Identifying Number
of Holder)

                                      A-5
<PAGE>

                              [FORM OF ASSIGNMENT]

             (To be executed by the registered holder if such holder

                  desires to transfer the Warrant Certificate.)

FOR VALUE RECEIVED ____________________ hereby sells, assigns and transfers unto

                  (Please print name and address of transferee)

this Warrant  Certificate,  together with all right, title and interest therein,
and does hereby irrevocably constitute and appoint ___________________ Attorney,
to transfer  the within  Warrant  Certificate  on the books of the  within-named
Company, with full power of substitution.

Dated: __________________ Signature: ________________________________
(Signature must conform in all respects to name of holder as
specified on the face of the Warrant Certificate.)

     ________________________________________
     (Insert Social Security or Other Identifying Number of Assignee)

                                      A-6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}]]