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                                                                   Exhibit 10.11

          NEITHER THIS WARRANT NOR THE SHARES OF STOCK ISSUABLE UPON
          EXERCISE HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES
          ACT OF 1933, AS AMENDED. NO SALE, TRANSFER OR OTHER
          DISPOSITION OF THIS WARRANT OR SAID SHARES MAY BE EFFECTED
          WITHOUT (i) AN EFFECTIVE REGISTRATION STATEMENT RELATED
          THERETO, (ii) AN OPINION OF COUNSEL FOR THE HOLDER THAT SUCH
          REGISTRATION IS NOT REQUIRED OR (iii) RECEIPT OF A NO-ACTION
          LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION TO THE
          EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED.

                Number of Shares Issuable Upon Exercise: 450,000

                               WARRANT TO PURCHASE
                       SHARES OF SERIES A PREFERRED STOCK

THIS CERTIFIES THAT, for value received, DOMINION CAPITAL MANAGEMENT, L.L.C, a
Delaware limited liability company, is entitled to subscribe for and purchase
450,000 shares (as adjusted pursuant to the provisions hereof, the "Shares") of
the Series A Convertible Preferred Stock, $0.0001 par value per share ("Series A
Preferred Stock") of OPTIUM, INC., a Delaware corporation (the "Company"), at a
price per share of $0.33333 (as adjusted pursuant to the provisions hereof, the
"Exercise Price"), subject to the provisions and upon the terms and conditions
hereinafter set forth; provided, that if at any time there are no shares of
Series A Preferred Stock outstanding, this Warrant shall be exercisable only for
an aggregate number of shares of Common Stock equal to the number of shares of
Common Stock that 450,000 shares of Series A Preferred Stock was convertible
into on the last day any shares of Series A Preferred Stock were outstanding (in
the event such number of shares of Common Stock is less than 450,000, the per
share Exercise Price will be adjusted accordingly. As used herein, the term
"Preferred Stock" shall mean, at any particular time, the class and series of
capital stock of the Company for which this Warrant is then exercisable, and the
term "Grant Date" shall mean May 16, 2001.

     1.   TERM. This Warrant is exercisable, in whole or in part, at any time
and from time to time from and after the Grant Date and prior to the earlier of
(a) the tenth (10th) anniversary of the Grant Date or (b) the fifth (5th)
anniversary of the consummation of the Company's initial public offering of its
Common Stock pursuant to a registration statement filed under the Securities Act
of 1933, as amended (the "Securities Act"), the aggregate gross proceeds from
which exceed $10,000,000 (the "Initial Public Offering").

     2.   METHOD OF EXERCISE: NET ISSUE EXERCISE.

          2.1     METHOD OF EXERCISE: PAYMENT: ISSUANCE OF NEW WARRANT. This
Warrant may be exercised by the holder hereof, in whole or in part and from time
to time, by either of the following, at the election of the holder hereof: (a)
the surrender of this Warrant (with the Notice of Exercise form attached hereto
as Exhibit A-l duly executed) at the principal office of the Company and by the
payment to the Company, by cash, check or cancellation of indebtedness, of an
amount equal to the Exercise Price per share multiplied by the number of Shares
then being purchased; or (b) if in connection with a sale of Shares pursuant to
a registered public offering of the Company's securities, the surrender of this
Warrant (with the Notice of Exercise form attached hereto as Exhibit A-2 duly
executed), which surrender may be made contingent upon the closing of such
offering, at the principal office of the Company together with notice of
arrangements reasonably satisfactory to the Company for payment to

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the Company from the proceeds of the sale of shares to be sold by the holder in
such public offering of an amount equal to the Exercise Price per share
multiplied by the number of Shares then being purchased. The person or persons
in whose name(s) any certificate(s) representing Shares shall be issuable upon
exercise of this Warrant shall be deemed to have become the holder(s) of record
of, and shall be treated for all purposes as the record holder(s) of, the Shares
represented thereby (and such Shares shall be deemed to have been issued)
immediately prior to the close of business on the date or dates upon which this
Warrant is exercised. In the event of any exercise of this Warrant, certificates
for the Shares so purchased shall be delivered to the holder hereof as soon as
possible and in any event within fifteen (15) days of receipt of such notice
and, unless this Warrant has been fully exercised or expired, a new Warrant
representing the portion of the Shares, if any, with respect to which this
Warrant shall not then have been exercised shall also be issued to the holder
hereof as soon as possible thereafter.

          2.2     AUTOMATIC EXERCISE. To the extent this Warrant is not
previously exercised, and if the fair market value of one share of the Company's
Preferred Stock is greater than the Exercise Price then in effect, this Warrant
shall be deemed automatically exercised pursuant to Section 2.3 below (even if
not surrendered) immediately before its expiration. For purposes of such
automatic exercise, the fair market value of one share of the Company's
Preferred Stock upon such expiration shall be determined pursuant to
Section 2.3 (b) below. To the extent this Warrant or any portion thereof is
deemed automatically exercised pursuant to this Section 2.2, the Company agrees
to promptly notify the holder hereof of the number of Shares, if any, the holder
hereof is to receive by reason of such automatic exercise.

          2.3     RIGHT TO CONVERT WARRANT INTO STOCK: NET ISSUANCE.

                  (a) In addition to and without limiting the rights of the
holder under the terms of this Warrant, the holder may elect to convert this
Warrant or any portion thereof (the "Conversion Right") into shares of Preferred
Stock, the aggregate value of which shares shall be equal to the value of this
Warrant or the portion thereof being converted. The Conversion Right may be
exercised by the holder by surrender of this Warrant at the principal office of
the Company together with notice of the holder's intention to exercise the
Conversion Right, in which event the Company shall issue to the holder a number
of shares of the Company's Preferred Stock computed using the following formula:

                                       Y (A - B)
                                   X = ---------
                                           A

Where:       X =  The number of shares of Preferred Stock to be issued to the
                  holder.

             Y =  The number of shares of Preferred Stock purchasable under this
                  Warrant subject to the exercise election.

             A =  The fair market value of one share of the Company's Preferred
                  Stock.

             B =  Exercise Price (as adjusted to the date of such calculations).

                  (b) For purposes of this Section 2.3, the "fair market value"
per share of the Company's Preferred Stock shall mean:

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                        (i)  If the Conversion Right is exercised in connection
with and contingent upon the Company's initial public offering, and if the
Company's registration statement relating to such offering has been declared
effective by the Securities and Exchange Commission, then the initial "Price to
Public" specified in the final prospectus with respect to such offering; or

                        (ii) If the Conversion Right is not exercised in
connection with and contingent upon the Company's initial public offering, then
as follows:

                  (A)   If the Preferred Stock is traded on a national
     securities exchange or admitted to unlisted trading privileges on such an
     exchange, or is listed on the Nasdaq National Market (the "National Market
     System"), the fair market value shall be the average of the last reported
     sale prices of the Preferred Stock on such exchange or on the Nasdaq
     National Market on the last ten (10) trading days (or all such trading days
     such Preferred Stock has been traded if fewer than 10 trading days) before
     the effective date of exercise of the Conversion Right or if no such sale
     is made on any such day, the mean of the closing bid and asked prices for
     such day on such exchange or on the Nasdaq National Market;

                  (B)   If the Preferred Stock is not so listed or admitted to
     unlisted trading privileges, the fair market value shall be the average of
     the means of the last bid and asked prices reported on the last ten (10)
     trading days (or all such trading days such Preferred Stock has been traded
     if fewer than 10 trading days) before the date of the election (1) by the
     Nasdaq Stock Market or (2) if reports are unavailable under clause (1)
     above, by the National Quotation Bureau Incorporated; and

                  (C)   If the Preferred Stock is not so listed or admitted to
     unlisted trading privileges and bid and ask prices are not reported, the
     fair market value shall be the price per share which the Company could
     obtain from a willing buyer for shares sold by the Company from authorized
     but unissued shares, as such price shall be determined by the Board of
     Directors of the Company in its reasonable good faith judgment. The
     foregoing notwithstanding, if the holder of this Warrant advises the Board
     of Directors in writing that the holder disagrees with such determination,
     then the Company and holder shall promptly agree upon a reputable
     investment banking firm to undertake such valuation. If the valuation of
     such investment banking firm is greater than that determined by the Board
     of Directors, then all fees and expenses of such investment banking firm
     shall be paid by the Company. In all other circumstances, such fees and
     expenses shall be paid by the holder of this Warrant.

     3.   STOCK FULLY PAID; RESERVATION OF SHARES. All Shares that may be issued
upon the exercise of this Warrant, and all Common Stock issuable upon conversion
of the Shares shall, upon issuance, be validly issued, fully paid and
nonassessable, and free from all taxes, liens and charges with respect to the
issue thereof. During the period within which this Warrant may be exercised, the
Company will at all times have duly authorized and reserved, for the purpose of
issuance upon exercise of this Warrant, a sufficient number of shares of
Preferred Stock (and Common Stock issuable upon conversion thereof).

     4.   ADJUSTMENTS TO EXERCISE PRICE AND NUMBER OF SHARES. At any time prior
to the closing of the Company's Initial Public Offering and prior to any time
when this Warrant would only be exercisable for Common Stock, the number and
kind of securities purchasable upon the exercise of this Warrant and the
Exercise Price shall be subject to adjustment from tune to time as set forth in
the terms of the Series A Preferred Stock in the Company's latest Amended and
Restated Certificate of Incorporation, as amended from time to time (the

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"Charter"), and in Appendix I hereto upon the occurrence of certain events
described therein. The provisions of Appendix I are incorporated by reference
herein with the same effect as if set forth in full herein.

     5.   NOTICES OF RECORD DATE. In the event of any taking by the Company of a
record of its shareholders for the purpose of determining shareholders who are
entitled to receive payment of any dividend or other distribution, any right to
subscribe for, purchase or otherwise acquire any share of any class or any other
securities or property, or to receive any other right, or for the purpose of
determining shareholders who are entitled to vote in connection with any
proposed merger or consolidation of the Company with or into any other
corporation, or any proposed sale, lease or conveyance of all or substantially
all of the assets of the Company, or any proposed liquidation, dissolution or
winding up of the Company, then, in connection with each such event, the Company
shall mail to the holder of this Warrant at least twenty (20) days prior written
notice of the date on which any such record is to be taken for the purpose of
such dividend, distribution, right(s) or vote of the shareholders. Each such
written notice shall specify the amount and character of any such dividend,
distribution or right(s), and shall set forth, in reasonable detail, the matter
requiring any such vote of the shareholders.

     6.   FRACTIONAL SHARES. No fractional shares of Preferred Stock will be
issued in connection with any exercise hereunder, but in lieu of such fractional
shares the Company shall make a cash payment therefor based upon the per share
fair market value of the Preferred Stock on the date of exercise.

     7.   COMPLIANCE WITH SECURITIES ACT: DISPOSITION OF WARRANT OR SHARES OF
PREFERRED STOCK.

          (a) COMPLIANCE WITH SECURITIES ACT. The holder of this Warrant, by
acceptance hereof, agrees that this Warrant, the Shares to be issued upon
exercise hereof and the Common Stock to be issued upon conversion of such Shares
are being acquired for investment and that such holder will not offer, sell or
otherwise dispose of this Warrant or any Shares to be issued upon exercise
hereof (or Common Stock issued upon conversion of such Shares) except under
circumstances which will not result in a violation of the Securities Act, This
Warrant and all Shares issued upon exercise of this Warrant (unless registered
under the Securities Act) shall be stamped or imprinted with a legend in
substantially the following form:

          THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES
          ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE
          EFFECTED WITHOUT (i) AN EFFECTIVE REGISTRATION STATEMENT
          RELATED THERETO, (ii) AN OPINION OF COUNSEL FOR THE HOLDER
          THAT SUCH REGISTRATION IS NOT REQUIRED OR (iii) RECEIPT OF A
          NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION
          TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT
          REQUIRED.

          (b) DISPOSITION OF WARRANT AND SHARES. With respect to any offer, sale
or other disposition of this Warrant or any Shares acquired pursuant to the
exercise of this Warrant (or Common Stock issued upon conversion of such Shares)
prior to registration thereof, the holder hereof and each subsequent holder of
this Warrant agrees to give written notice to the Company prior thereto,
describing briefly the manner thereof, together with a written opinion of such
holder's counsel, if reasonably requested by the Company, to the effect that
such offer, sale or other disposition may be effected without registration or
qualification (under the Securities Act as then in effect or any federal or
state law then in effect) of this Warrant or such Shares or Common Stock and
indicating whether or not under the Securities Act certificates for this Warrant
or such Shares or Common Stock to be sold or otherwise disposed of require any
restrictive legend as to applicable restrictions on transferability in order to
insure compliance with the Securities Act. Each certificate representing this
Warrant or the Shares or Common Stock thus

                                       -4-
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transferred (except a transfer pursuant to Rule 144) shall bear a legend as to
the applicable restrictions on transferability in order to insure compliance
with the Securities Act unless, in the aforesaid opinion of counsel for the
holder, such legend is not required in order to insure compliance with the
Securities Act. Nothing herein shall restrict the transfer of this Warrant or
any portion hereof by the initial holder hereof to any partnership affiliated
with the initial holder, or to any partner of any such partnership provided such
transfer may be made in compliance with applicable federal and state securities
laws. The Company may issue stop transfer instructions to its transfer agent in
connection with the foregoing restrictions.

     8.   RIGHTS AS SHAREHOLDERS; INFORMATION.

          8.1 SHAREHOLDER RIGHTS. Except as set forth herein, no holder of this
Warrant, as such, shall be entitled to vote upon any matter submitted to
shareholders at any meeting thereof, or to receive notice of meetings, or be
deemed the holder of Preferred Stock until this Warrant shall have been
exercised and the Shares purchasable upon such exercise shall have become
deliverable, as provided herein.

          8.2 FINANCIAL STATEMENTS AND INFORMATION. The Company shall deliver to
the registered holder hereof such financial information, including audited and
unaudited financial statements that it provides to the Series A Convertible
Preferred stockholders of the Company at the same time such information is
provided to such stockholders.

     9.   REGISTRATION RIGHTS The holder of this Warrant (and any transferee
pursuant to subsection 7(b) hereof) shall be entitled to registration rights
with respect to the Shares, or the Common Stock issuable upon conversion
thereof, as set forth in Sections 5 and 6 of that certain Registration Rights
Agreement, dated as of November 22, 2000, a true and correct copy of which is
attached hereto as Appendix II (the "Registration Rights Agreement"). The Shares
and the Common Stock issuable upon conversion thereof shall be deemed
"Conversion Shares" as those terms are defined in the Registration Rights
Agreement and the holder of this Warrant shall be deemed a "Purchaser," subject
to all of the rights and obligations thereunder.

     10.  MERGERS. The Company agrees to provide the holder of this Warrant the
same prior written notice that it provides to the holders of the Series A
Convertible Preferred Stock of the terms and conditions of any proposed
transaction, in which the Company would (i) sell, lease, exchange, convey or
otherwise dispose of all or substantially all of its property or business, or
(ii) merge into or consolidate with any other corporation (other than a
wholly-owned subsidiary of the Company), or effect any transaction (including a
merger or other reorganization) or series of related transactions, in which more
than fifty percent (50%) of the voting power of the Company is disposed of. The
Company will cooperate with the holder in arranging the sale of this Warrant in
connection with any such transaction.

     11.  REPRESENTATIONS AND WARRANTIES. This Warrant is issued and delivered
on the basis of the following:

          (a) This Warrant has been duly authorized, executed and delivered by
the Company and constitutes the valid and binding obligation of the Company,
enforceable in accordance with its terms;

          (b) The Shares have been duly authorized and reserved for issuance by
the Company and, when issued in accordance with the terms hereof, will be
validly issued, fully paid and nonassessable;

                                       -5-
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          (c) The rights, preferences, privileges and restrictions granted to or
imposed upon the Shares and the holders thereof are as set forth in the
Company's Charter, a true and complete copy of which has been delivered to the
original holder of this Warrant;

          (d) The shares of Common Stock issuable upon conversion of the Shares
have been duly authorized and reserved and, when issued in accordance with the
terms of the Company's Charter, will be validly issued, fully paid and
nonassessable;

          (e) As of the Grant Date, the capitalization of the Company shall be
as set forth in the Capitalization Schedule attached hereto as Appendix III,
which indicates the following: (i) the authorized capital stock of the Company
(including the authorized number of shares of Common Stock and each series of
Preferred Stock); (ii) the number of shares of Common Stock and each series of
Preferred Stock issued and outstanding; (iii) the number of shares of Common
Stock reserved for issuance upon conversion of any Preferred Stock; (iv) the
number of shares for which options have been granted under the Company's Stock
Option Plan; and (v) any other securities that are convertible into or
exchangeable for Common Stock or options to purchase or rights to subscribe for
Common Stock or such convertible or exchangeable securities, and the number of
shares of Common Stock issuable upon any conversion, exchange or exercise of
such securities, options or rights. All issued and outstanding shares of the
Company's Common Stock and Preferred Stock have been duly authorized and validly
issued, and are fully paid and nonassessable. Except as set forth in Appendix
III, there are no outstanding rights, options, warrants, conversion rights,
preemptive rights, rights of first refusal or similar rights for or
understandings relating to the purchase or acquisition from the Company of any
securities of the Company.

          (f) The execution and delivery of this Warrant, the issuance of the
Shares upon exercise of this Warrant in accordance with the terms hereof and the
compliance by the Company with the provisions hereof (i) are not and will not be
inconsistent with the Company's Charter or Bylaws, (ii) do not and will not
contravene any law, governmental rule or regulation, judgment or order
applicable to the Company, and (iii) do not and will not contravene any
provision of, or constitute a default under, any indenture, mortgage, contract
or other instrument of which the Company is a party or by which it is bound or
require the consent or approval of, the giving of notice to, the registration
with or the taking of any action in respect of or by, any Federal, state or
local government authority or agency or other person.

     12.  AMENDMENT OF CONVERSION RIGHTS. During the term of this Warrant, the
Company agrees that it shall not amend its Charter, as amended through the Grant
Date, without the prior written consent of the holder or holders entitled to
purchase a majority of the Shares upon exercise of this Warrant if as a result
of such amendment any of the conversion rights, including without limitation the
conversion price or antidilution protection privileges, of the Preferred Stock
would be affected. The Company shall promptly provide the holder of this Warrant
with any restatement, amendment, modification or waiver of the Charter promptly
after the same has been made.

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

     14.  NOTICES. Any notice, request or other document required or permitted
to be given or delivered to the holder hereof or the Company shall be delivered
or sent to each such holder at its address as shown on the books of the Company
or to the Company at the address indicated therefor on the signature page of
this Warrant and shall be deemed received by the holder upon the earlier of
actual receipt or, if sent by certified mail (postage pre-paid), five (5) days
after deposit in the U.S. mail.

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     15.  BINDING EFFECT ON SUCCESSORS. This Warrant shall be binding upon any
corporation succeeding the Company by merger, consolidation or acquisition of
all or substantially all of the Company's assets. All of the obligations of the
Company relating to the Shares, or the Company's Common Stock issuable upon
conversion thereof, shall survive the exercise and termination of this Warrant.
All of the covenants and agreements of the Company shall inure to the benefit of
the successors and assigns of the holder hereof. The Company will, at the time
of the exercise of this Warrant, in whole or in part, upon request of the holder
hereof but at the Company's expense, acknowledge in writing its continuing
obligation to the holder hereof in respect of any rights (including, without
limitation, any right to registration of the Shares in accordance with Appendix
II) to which the holder hereof shall continue to be entitled after such exercise
in accordance with this Warrant; provided, that the failure of the holder hereof
to make any such request shall not affect the continuing obligation of the
Company to the holder hereof in respect of such rights.

     16.  LOST WARRANTS OR STOCK CERTIFICATES. The Company covenants to the
holder hereof that upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction, or mutilation of this Warrant or any
stock certificate issued upon exercise thereof and, in the case of any such
loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory
to the Company, or in the case of any such mutilation upon surrender and
cancellation of such Warrant or stock certificate, the Company shall make and
deliver a new Warrant or stock certificate, or like tenor, in lieu of the lost,
stolen, destroyed or mutilated Warrant or stock certificate.

     17.  NO IMPAIRMENT. The Company will not, by amendment of its Charter or
through any reorganization, recapitalization, 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 hereunder by the Company, 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 be necessary or appropriate in order to
protect the rights of the holder of this Warrant against impairment.

     18.  DESCRIPTIVE HEADINGS. The descriptive headings of the several
paragraphs of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant.

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

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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     20.  GOVERNING LAW. THIS WARRANT SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAWS OF
THE STATE OF DELAWARE.

Date: May 16, 2001                      OPTIUM, INC.
                                        A Delaware corporation

                                        By: /s/ Paul Suchoski
                                            --------------------------------

                                        Name: Paul Suchoski
                                              ------------------------------

                                        Title: CEO
                                               -----------------------------

                                        Address: 3403 Technological Ave Suite 2
                                                 Orlando, FL 32817
                                                 -------------------------------

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                                   EXHIBIT A-1

                               NOTICE OF EXERCISE

To:  OPTIUM, INC.
    --------------
    (COMPANY NAME)

     1.   The undersigned hereby:

          /X/  elects to purchase _________ shares of Series A Preferred Stock
               of the Company pursuant to the terms of the attached Warrant, and
               tenders herewith payment of the purchase price of such shares in
               full; or

          /X/  elects to exercise its net issuance rights pursuant to
               Section 2.3 of the attached Warrant with respect to _____ shares
               of Series A Preferred Stock.

     2.   Please issue a certificate or certificates representing said shares in
the name of the undersigned or in such other name or names as are specified
below:

                        ________________________________
                                     (NAME)

                        ________________________________
                                    (ADDRESS)

                        ________________________________
                                    (ADDRESS)

     3.   The undersigned represents that the aforesaid shares are being
acquired for the account of the undersigned for investment and not with a view
to, or for resale in connection with, the distribution thereof and that the
undersigned has no present intention of distributing or reselling such shares.

-----------
  (DATE)

                                              ---------------------------------
                                                         (SIGNATURE)

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                                   EXHIBIT A-2

                               NOTICE OF EXERCISE

To:  OPTIUM, INC.
    --------------
    (COMPANY NAME)

     1.   Contingent upon and effective immediately prior to the closing (the
"Closing") of the Company's public offering contemplated by the Registration
Statement on Form S-___, filed on _________, 20__, the undersigned hereby:

          /X/  elects to purchase _________ shares of Series A Preferred Stock
               of the Company (or such lesser number of shares as may be sold on
               behalf of the undersigned at the Closing) pursuant to the terms
               of the attached Warrant; or

          /X/  elects to exercise its net issuance rights pursuant to
               Section 2.3 of the attached Warrant with respect to ______ shares
               of Series A Preferred Stock.

     2.   Please deliver to the custodian for the selling shareholders a stock
certificate representing such _______ shares.

     3.   The undersigned has instructed the custodian for the selling
shareholders to deliver to the Company $_______ or, if less, the net proceeds
due the undersigned from the sale of shares in the aforesaid public offering. If
such net proceeds are less than the purchase price for such shares, the
undersigned agrees to deliver the difference to the Company prior to the
Closing.

-----------
  (DATE)

                                              ---------------------------------
                                                         (SIGNATURE)

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                                   APPENDIX I

                              ADJUSTMENT PROVISIONS

     1.   CAPITALIZED TERMS. Capitalized terms used in this Appendix I that are
not otherwise defined herein shall have the respective meanings assigned to them
in the Warrant, dated as of May 16, 2001, to which this Appendix I is attached,
if therein defined.

     2.   RECLASSIFICATION OR MERGER. In case of any reclassification, change or
conversion of securities of the class issuable upon exercise of this Warrant
(other than a change in par value, or from par value to no par value, or from no
par value to par value, or as a result of a subdivision or combination), or in
case of any merger of the Company with or into another corporation or entity
(other than a merger with another corporation in which the Company is a
continuing corporation and which does not result in any reclassification or
change of outstanding securities issuable upon exercise of this Warrant), or in
case of any sale of all or substantially all of the assets of the Company, the
Company, or such successor or purchasing corporation or entity, as the case may
be, shall execute a new Warrant (in form and substance satisfactory to the
holder of this Warrant) providing that the holder of this Warrant shall have the
right to exercise such new Warrant and upon such exercise to receive, in lieu of
each share of Series A Preferred Stock (or Common Stock at any time when this
Warrant is exercisable only for Common Stock) theretofore issuable upon exercise
of this Warrant, the kind and amount of shares of stock, other securities, money
and property receivable upon such reclassification, change or merger by a holder
of one share of Series A Preferred Stock (or Common Stock at any time when this
Warrant is exercisable only for Common Stock). Such new Warrant shall provide
for adjustments that shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Appendix I. The provisions of this Section 2
shall similarly apply to successive reclassifications, changes, mergers and
transfers.

     3.   SUBDIVISION OR COMBINATION OF SHARES. If the Company at any time while
this Warrant remains outstanding and unexpired shall subdivide or combine its
Series A Preferred Stock (or Common Stock at any time when this Warrant is
exercisable only for Common Stock), the Exercise Price and the number of Shares
issuable upon exercise hereof shall be proportionately adjusted.

     4.   STOCK DIVIDENDS. If the Company at any time while this Warrant is
outstanding and unexpired shall pay a dividend payable to holders of the Series
A Preferred Stock or (Common Stock at any time when this Warrant is exercisable
only for Common Stock) in shares of Series A Preferred Stock (or Common Stock at
any time when this Warrant is exercisable only for Common Stock), then the
Exercise Price shall be adjusted, from and after the date of determination of
shareholders entitled to receive such dividend or distribution, to that price
determined by multiplying the Exercise Price in effect immediately prior to such
date of determination by a fraction (a) the numerator of which shall be the
total number of shares of Series A Preferred Stock (or Common Stock at any time
when this Warrant is exercisable only for Common Stock) outstanding immediately
prior to such dividend or distribution, and (b) the denominator of which shall
be the total number of shares of Series A Preferred Stock (or Common Stock at
any time when this Warrant is exercisable only for Common Stock) outstanding
immediately after such dividend or distribution and the number of Shares subject
to this Warrant shall be proportionately adjusted.

     5.   NOTICE OF ADJUSTMENTS. Whenever the Exercise Price shall be adjusted
pursuant to the provisions hereof, the Company shall within thirty (30) days of
such adjustment deliver a certificate signed by its chief financial officer to
the registered holder(s) hereof setting forth, in reasonable detail, the event
requiring the

                                       -2-
<Page>

adjustment, the amount of the adjustment, the method by which such adjustment
was calculated, and the Exercise Price after giving effect to such adjustment.

                                       -3-
<Page>

                                   APPENDIX II

                          REGISTRATION RIGHTS AGREEMENT

<Page>

                                  APPENDIX III

                              CAPITALIZATION TABLE

<Page>

OPTIUM, INC.
CAPITALIZATION AS OF MAY 16, 2001

<Table>
<S>                                                               <C>
Total Authorized Capital Stock                                    100,000,000.00
Total Authorized Common Stock                                      55,000,000.00
Total Authorized Preferred Stock                                   45,000,000.00
Total Authorized Series A Preferred Stock                          24,450,000.00
Total Common Stock Issued & Outstanding *                          24,851,095.00
Total Series A Preferred Stock Issued & Outstanding                24,450,000.00
Total Common Shares Reserved for Issuance Upon Conversion of
Preferred Stock                                                    24,450,000.00
Total Options Reserved under Stock Option Plan                     16,614,472.00

Total Options under Stock Option Plan Issued & Outstanding**           38,000.00

Total Options under Stock Option Plan Available for Issuance        1,988,926.00
</Table>

* includes shares of Common Stock issued under the Option Plan
** doesn't include shares of Common Stock issued under the Option Plan
(14,587,546)<Page>

                                                                   Exhibit 10.12

     THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF
     HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
     AMENDED (THE "SECURITIES ACT"), OR ANY APPLICABLE STATE
     SECURITIES LAWS AND MAY NOT BE SOLD, OFFERED FOR SALE, MORTGAGED,
     PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO
     AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
     ANY APPLICABLE STATE SECURITIES LAWS, OR AN EXEMPTION THEREFROM.
     THIS WARRANT HAS BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW
     TO DISTRIBUTION OR RESALE.

                          WARRANT TO PURCHASE
              SERIES C SENIOR CONVERTIBLE PREFERRED STOCK
                                  OF
                          OPTIUM CORPORATION

                      VOID AFTER JANUARY 31, 2013

          This Warrant is issued to Eitan Gertel or his registered assigns (the
"Employee") by Optium Corporation, a Delaware corporation (including any
successors as provided herein, the "Company"), on May 1, 2003 (the "Warrant
Issue Date"). This Warrant is issued to the Employee in connection with his
employment by the Company.

          1.   NUMBER OF SHARES SUBJECT TO WARRANT; EXERCISE PRICE. Subject to
the terms and conditions hereinafter set forth, the Employee is entitled, upon
surrender of this Warrant at the principal office of the Company, to purchase
from the Company 489,156 shares (the "Shares") of Series C Senior Convertible
Preferred Stock, par value $0.0001 per share (the "Series C Preferred Stock"),
at a purchase price of $0.05036 per share (as may be adjusted herein, the
"Exercise Price").

          2.   VESTING; EXERCISE PERIOD. Except as otherwise provided for
herein, this Warrant shall be exercisable, in whole or in part, at any time and
from time to time beginning on the earlier of (i) December 31, 2003 or (ii) the
moment in time that is immediately prior to the consummation of a Change in
Control (as defined in the Company's 2001 Stock Incentive Plan, as amended) and
ending at 5:00 p.m. eastern time on the tenth (10th) anniversary of the Warrant
Issue Date (the "Warrant Termination Date"); PROVIDED, that if the employment by
the Company of the Employee is terminated for any reason or reasons prior to
this Warrant becoming exercisable, then this Warrant shall expire without ever
becoming exercisable; and, PROVIDED FURTHER, that if the employment by the
Company of the Employee is terminated for any reason or reasons after this
Warrant first becomes exercisable, then this Warrant shall expire and no longer
be exercisable on the earlier of: the Warrant Termination Date or (ii) the date
that is ninety (90) days following the date of such termination.

          3.   NOTICE OF SALE OR CONVERSATION. The Company shall provide written
notice to the Employee not less than thirty (30) days prior to the consummation
of a Change in

<Page>

Control or any transaction that would cause the conversion of all outstanding
shares of Series C Preferred Stock into Common Stock of the Company.

          4.   METHOD OF EXERCISE. While this Warrant remains outstanding and
exercisable in accordance with SECTION 2 hereof, the purchase rights hereby
represented may be exercised in whole but not in part, at the election of the
Employee, by the tender of the Notice of Exercise in substantially the form
attached hereto as EXHIBIT A and the surrender of this Warrant at the principal
office of the Company and by the payment to the Company in cash, by check,
cancellation of indebtedness, shares of Series C Preferred Stock that have been
held by the Employee for at least six (6) months (or shares previously issued
upon conversion thereof) or other form of payment acceptable to the Company, of
an amount equal to the then applicable Exercise Price multiplied by the number
of Shares then being purchased. For purposes of this SECTION 4, the fair market
value of a share of Series C Preferred Stock (or shares previously issued upon
conversion thereof) as of a particular date shall be determined by the Company's
Board of Directors in its reasonable discretion; PROVIDED that if such shares
issuable upon exercise of this Warrant are traded on a national securities
exchange or admitted to quotation on the National Association of Securities
Dealers Automated Quotation System, the fair market value on any given date
shall be the average of the closing sale prices on such exchange or system of
such shares issuable upon exercise of this Warrant for the 20 trading days
preceding such date.

          5.   CERTIFICATES FOR SHARES. Upon the exercise of the purchase rights
evidenced by this Warrant, one or more certificates for the number of Shares so
purchased shall be issued as soon as practicable thereafter (with appropriate
restrictive legends, as applicable).

          6.   ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF SHARES. The number of
and kind of securities purchasable upon exercise of this Warrant and the
Exercise Price shall be subject to adjustment from time to time as follows:

               (a)  SUBDIVISIONS, COMBINATIONS AND OTHER ISSUANCES. If the
Company shall at any time prior to the exercise or expiration of this Warrant
subdivide its shares of Series C Preferred Stock (or any successor security as
provided for in SECTION 6(b)), by split-up or otherwise, or combine its shares
of Series C Preferred Stock (or any successor security as provided for in
SECTION 6(b)), or issue additional Common Stock as a dividend with respect to
any of its shares of Series C Preferred Stock (or any successor security as
provided for in SECTION 6(b)), the number of Shares issuable on the exercise of
this Warrant shall forthwith be proportionately increased in the case of a
subdivision or stock dividend, or proportionately decreased in the case of a
combination. Appropriate adjustments shall also be made to the Exercise Price,
provided that the aggregate exercise price payable hereunder for the total
number of Shares purchasable under this Warrant (as adjusted) shall remain the
same. Any adjustment under this SECTION 6(a) shall become effective at the close
of business on the date the subdivision or combination becomes effective, or as
of the record date of such dividend, or in the event that no record date is
fixed, upon the making of such dividend.

                                       -2-
<Page>

               (b)  RECLASSIFICATION, REORGANIZATION AND CONSOLIDATION. In the
event of any corporate reclassification, capital reorganization, consolidation,
spin-off or change in the shares of Series C Preferred Stock (other than as a
result of a subdivision, combination, or dividend provided for in SECTION 6(a)
above), then, as a condition of such event, lawful provision shall be made, and
duly executed documents evidencing the same from the Company or its successor
shall be delivered to the Employee, so that the Employee shall have the right at
any time prior to the expiration of this Warrant to purchase, at a total price
equal to that payable upon the exercise of this Warrant, the kind and amount of
shares of stock and/or other securities and property receivable in connection
with such event by a Employee of the same number of shares for which this
Warrant could have been exercised immediately prior to such event. In any such
case appropriate provisions shall be made with respect to the rights and
interest of the Employee so that the provisions hereof shall thereafter be
applicable with respect to any shares of stock or other securities and property
deliverable upon exercise hereof, and appropriate adjustments shall be made to
the Exercise Price, provided that the aggregate exercise price payable hereunder
for the total number of Shares purchasable under this Warrant (as adjusted)
shall remain the same.

               (c)  NOTICE OF ADJUSTMENT. When any adjustment is required to be
made to the Exercise Price or in the number or kind of Shares purchasable upon
exercise of the Warrant, the Company shall promptly notify the Employee of such
event and of the adjusted Exercise Price or number of Shares or other securities
or property thereafter purchasable upon exercise of this Warrant.

          7.   ASSUMPTION OF WARRANT. If at any time while this Warrant, or any
portion thereof, is outstanding and unexpired there shall be an acquisition of
the Company by another entity by means of a merger, reorganization or
consolidation of the Company or any other similar transaction, then, as a part
of such acquisition, lawful provision shall be made so that the Employee shall
thereafter be entitled to receive upon exercise of this Warrant, during the
period specified herein and upon payment of the aggregate Exercise Price then in
effect, the number of shares of stock or other securities or property of the
successor corporation resulting from such acquisition which the Employee would
have been entitled to receive in such acquisition if this Warrant had been
exercised immediately before such acquisition.

          8.   NO FRACTIONAL SHARES OR SCRIP. No fractional Shares or scrip
representing fractional Shares shall be issued upon the exercise of this
Warrant, but in lieu of such fractional Shares the Company shall make a cash
payment therefor on the basis of the fair market value determined in accordance
with SECTION 4.

          9.   NO SHAREHOLDER RIGHTS. Prior to exercise of this Warrant, the
Employee shall not be entitled to any rights of a shareholder with respect to
the Shares, including (without limitation) the right to vote such Shares,
receive dividends or other distributions thereon, exercise preemptive rights or
be notified of shareholder meetings, and such Employee shall not be entitled to
any notice or other communication concerning the business or affairs of the
Company. However, nothing in this SECTION 9 shall limit the right of the
Employee to be provided the notices required under this Warrant.

                                       -3-
<Page>

          10.  COMPLIANCE WITH SECURITIES ACT; TRANSFERABILITY OF WARRANT OR
SHARES.

               (a)  COMPLIANCE WITH SECURITIES ACT. The Employee, by acceptance
hereof, agrees that this Warrant, and the Shares issuable upon exercise of this
Warrant, are being acquired for investment and that such Employee will not
offer, sell or otherwise dispose of this Warrant, or any Shares issuable upon
exercise of this Warrant, except under circumstances which will not result in a
violation of the Securities Act, or any applicable state securities laws. This
Warrant and all Shares issued upon exercise of this Warrant (unless registered
under the Securities Act and any applicable state securities laws) shall be
stamped or imprinted with a legend in substantially the following form:

          "THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE
          SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
          OR ANY APPLICABLE STATE SECURITIES LAW AND MAY NOT BE SOLD,
          OFFERED FOR SALE, MORTGAGED, PLEDGED, HYPOTHECATED OR
          OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE
          REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY
          APPLICABLE STATE SECURITIES LAWS, OR AN EXEMPTION THEREFROM,
          AND, IF REQUESTED BY THE COMPANY, THE COMPANY HAS RECEIVED
          AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THAT
          EFFECT. THIS WARRANT HAS BEEN ACQUIRED FOR INVESTMENT AND
          NOT WITH A VIEW TO DISTRIBUTION OR RESALE."

               (b)  TRANSFERABILITY. Subject to compliance with applicable
federal and state securities laws, the Shares issuable upon exercise of this
Warrant (but not this Warrant) are transferable in whole or in part by the
Employee to any person or entity upon written notice to the Company.

          11.  INVESTMENT STATUS. The Employee represents that he or she is an
"accredited investor" within the meaning of Regulation D under the Securities
Act, as presently in effect.

          12.  SUCCESSORS AND ASSIGNS. The terms and provisions of this Warrant
shall inure to the benefit of, and be binding upon, the Company and the holders
hereof and their respective successors and assigns.

          13.  AMENDMENTS AND WAIVERS. Any term of this Warrant may be amended
and the observance of any term of this Warrant may be waived (either generally
or in a particular instance and either retroactively or prospectively), with the
written consent of the Company and the Employee.

          14.  NOTICES. All notices required under this Warrant shall be deemed
to have been given or made for all purposes (i) upon personal delivery, (ii)
upon confirmation receipt that the communication was successfully sent to the
applicable number if sent by facsimile, (iii)

                                       -4-
<Page>

one day after being sent, when sent by professional overnight courier service,
or (iv) five days after posting when sent by registered or certified mail.
Notices to the Company shall be sent to the address of the Company set forth
below (or at such other place as the Company shall notify the Employee hereof in
writing) and notices to the Employee shall be sent to the address of the
Employee set forth below (or at such other place as the Employee shall notify
the Company hereof in writing):

          To the Company:         Optium Corporation
                                  500 Horizon Drive
                                  Suite 505
                                  Chalfont, PA 18914
                                  Attn: Chief Executive Officer

          To the Employee:        Eitan Gertel
                                  1389 Lamplighter Lane
                                  Gwynedd, PA 19436

          15.  CAPTIONS. The section and subsection headings of this Warrant
are inserted for convenience only and shall not constitute a part of this
Warrant in construing or interpreting any provision hereof.

          16.  GOVERNING LAW. This Warrant shall be governed by the laws of the
State of Delaware, without regard to the choice or conflict of laws principles
thereof.

                                       -5-
<Page>

          IN WITNESS WHEREOF, the undersigned have caused this Warrant to be
duly executed as of the date first set forth above.

                                       COMPANY

                                       OPTIUM CORPORATION

                                       By: /s/ Paul G. Suchoski
                                          ---------------------------------
                                       Name:   Paul G. Suchoski, Jr.
                                       Title: Chief Executive Officer

                                       EMPLOYEE

                                       /s/ Eitan Gertel
                                       ------------------------------------
                                       Name: Eitan Gertel

                                       -6-
<Page>

                                    EXHIBIT A

                               NOTICE OF EXERCISE

To: Optium Corporation

               The undersigned hereby elects to [CHECK APPLICABLE SUBSECTION]:

/ /            Purchase _______________ Shares (as defined in the attached
               Warrant) of Optium Corporation, pursuant to the terms of the
               attached Warrant and payment of the Exercise Price per Share
               required under such Warrant accompanies this notice.

          The undersigned hereby represents and warrants that the undersigned is
acquiring such shares for its own account for investment purposes only, and not
for resale or with a view to distribution of such shares or any part thereof.

Date:                                  WARRANT HOLDER:
     -----------------------------

                                       By:
                                           -------------------------------
                                           Name:
                                           Address:

Name in which shares should be registered: ________________

                                       -7-

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