Document:

FORM OF WARRANT

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE  BEEN  REGISTERED  WITH  THE  SECURITIES  AND  EXCHANGE  COMMISSION  OR THE
SECURITIES   COMMISSION  OF  ANY  STATE  IN  RELIANCE  UPON  AN  EXEMPTION  FROM
REGISTRATION  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED  (THE  "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY NOT BE OFFERED  OR SOLD  EXCEPT  PURSUANT  TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE  SECURITIES  ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE  REGISTRATION
REQUIREMENTS  OF THE  SECURITIES  ACT AND IN ACCORDANCE  WITH  APPLICABLE  STATE
SECURITIES  LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH  EFFECT,  THE  SUBSTANCE  OF WHICH SHALL BE  REASONABLY  ACCEPTABLE  TO THE
COMPANY.  THIS  SECURITY  AND THE  SECURITIES  ISSUABLE  UPON  EXERCISE  OF THIS
SECURITY MAY BE PLEDGED IN CONNECTION  WITH A BONA FIDE MARGIN  ACCOUNT OR OTHER
LOAN SECURED BY SUCH SECURITIES.

                          COMMON STOCK PURCHASE WARRANT

                To Purchase --------- Shares of Common Stock of

                              VISION-SCIENCES, INC.

             THIS COMMON STOCK PURCHASE WARRANT (the "WARRANT")  certifies that,
for value received,  ------------- (the "HOLDER"),  is entitled,  upon the terms
and subject to the  limitations on exercise and the conditions  hereinafter  set
forth, at any time on or after the date hereof (the "INITIAL EXERCISE DATE") and
on or prior to the close of business on the five year anniversary of the Initial
Exercise Date (the "TERMINATION DATE") but not thereafter,  to subscribe for and
purchase from Vision-Sciences,  Inc., a Delaware corporation (the "COMPANY"), up
to ------- shares (the "WARRANT  SHARES") of Common  Stock,  par value $0.01 per
share, of the Company (the "COMMON  STOCK").  The purchase price of one share of
Common Stock under this Warrant shall be equal to the Exercise Price, as defined
in Section 2(b).

          SECTION  1.  DEFINITIONS.  Capitalized  terms  used and not  otherwise
defined  herein shall have the  meanings  set forth in that  certain  Securities
Purchase  Agreement (the "PURCHASE  AGREEMENT"),  dated January ---, 2005, among
the Company and the purchasers signatory thereto.

          SECTION 2. EXERCISE.

                 a)  EXERCISE  OF  WARRANT.  Exercise  of  the  purchase  rights
           represented  by this Warrant may be made, in whole or in part, at any
           time or times on or after the Initial  Exercise Date and on or before
           the  Termination  Date by delivery to the Company of a duly  executed
           facsimile copy of the Notice of Exercise Form annexed hereto (or such

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           other  office or agency of the Company as it may  designate by notice
           in writing to the  registered  Holder at the  address of such  Holder
           appearing on the books of the Company);  PROVIDED,  HOWEVER, within 5
           Trading  Days of the date said Notice of Exercise is delivered to the
           Company,  the  Holder  shall  have  surrendered  this  Warrant to the
           Company and the Company shall have received  payment of the aggregate
           Exercise  Price of the shares  thereby  purchased by wire transfer or
           cashier's check drawn on a United States bank.

                 b) EXERCISE PRICE. The exercise price of the Common Stock under
           this Warrant  shall be $3.75,  subject to adjustment  hereunder  (the
           "EXERCISE PRICE").

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

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

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

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

                     Notwithstanding  anything  herein to the  contrary,  on the
           Termination  Date, this Warrant shall be  automatically exercised via
           cashless exercise pursuant to this Section 2(c).

                 d)  EXERCISE  LIMITATIONS;  HOLDER'S  RESTRICTIONS.  The Holder
           shall not have the right to  exercise  any  portion of this  Warrant,
           pursuant  to Section  2(c) or  otherwise,  to the  extent  that after
           giving effect to such issuance after exercise,  the Holder  (together
           with the Holder's affiliates),  as set forth on the applicable Notice
           of Exercise,  would beneficially own in excess of 9.99% of the number
           of shares of the Common Stock  outstanding  immediately  after giving
           effect to such issuance.  For purposes of the foregoing sentence, the
           number of shares of Common Stock beneficially owned by the Holder and
           its  affiliates  shall  include the number of shares of Common  Stock
           issuable  upon  exercise of this  Warrant  with  respect to which the
           determination  of such sentence is being made,  but shall exclude the
           number of shares of Common  Stock which  would be  issuable  upon (A)
           exercise  of the  remaining,  nonexercised  portion  of this  Warrant
           beneficially  owned by the  Holder or any of its  affiliates  and (B)
           exercise or conversion of the unexercised or nonconverted  portion of
           any other securities of the Company  (including,  without limitation,
           any other Shares or Warrants)  subject to a limitation  on conversion
           or exercise analogous to the limitation contained herein beneficially
           owned by the Holder or any of its affiliates.  Except as set forth in
           the preceding sentence, for purposes of this Section 2(d), beneficial
           ownership shall be calculated in accordance with

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           Section  13(d) of the Exchange Act, it being  acknowledged  by Holder
           that the Company is not  representing to Holder that such calculation
           is in compliance with Section 13(d) of the Exchange Act and Holder is
           solely  responsible  for  any  schedules  required  to  be  filed  in
           accordance therewith.  To the extent that the limitation contained in
           this Section 2(d) applies,  the determination of whether this Warrant
           is exercisable (in relation to other  securities owned by the Holder)
           and of which a portion of this Warrant is exercisable shall be in the
           sole  discretion  of such Holder,  and the  submission of a Notice of
           Exercise shall be deemed to be such Holder's determination of whether
           this Warrant is exercisable (in relation to other securities owned by
           such Holder) and of which portion of this Warrant is exercisable,  in
           each case subject to such aggregate  percentage  limitation,  and the
           Company shall have no obligation to verify or confirm the accuracy of
           such determination. For purposes of this Section 2(d), in determining
           the number of outstanding shares of Common Stock, the Holder may rely
           on the number of  outstanding  shares of Common Stock as reflected in
           (x) the Company's most recent Form 10-Q or Form 10-K, as the case may
           be, (y) a more recent public  announcement  by the Company or (z) any
           other notice by the Company or the Company's  Transfer  Agent setting
           forth the  number of shares  of Common  Stock  outstanding.  Upon the
           written or oral request of the Holder,  the Company  shall within two
           Trading Days  confirm  orally and in writing to the Holder the number
           of shares of Common Stock then  outstanding.  In any case, the number
           of  outstanding  shares of Common  Stock  shall be  determined  after
           giving  effect to the  conversion  or exercise of  securities  of the
           Company,  including  this  Warrant,  by the Holder or its  affiliates
           since  the date as of which  such  number  of  outstanding  shares of
           Common Stock was reported. The provisions of this Section 2(d) may be
           waived by the Holder upon,  at the  election of the Holder,  not less
           than 61 days' prior notice to the Company, and the provisions of this
           Section  2(d) shall  continue  to apply  until such 61st day (or such
           later date, as determined by the Holder,  as may be specified in such
           notice of waiver).

                 e)    MECHANICS OF EXERCISE.

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

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

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

                             iii.  DELIVERY OF NEW WARRANTS  UPON  EXERCISE.  If
                       this  Warrant  shall  have been  exercised  in part,  the
                       Company shall, at the time of delivery of the certificate
                       or certificates  representing Warrant Shares,  deliver to
                       Holder a new Warrant  evidencing  the rights of Holder to
                       purchase the  unpurchased  Warrant  Shares  called for by
                       this  Warrant,  which  new  Warrant  shall  in all  other
                       respects be identical with this Warrant.

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

                             v.  COMPENSATION  FOR  BUY-IN ON  FAILURE TO TIMELY
                       DELIVER  CERTIFICATES  UPON EXERCISE.  In addition to any
                       other  rights  available  to the  Holder,  if the Company
                       fails to cause  its  transfer  agent to  transmit  to the
                       Holder a certificate  or  certificates  representing  the
                       Warrant  Shares  pursuant to an exercise on or before the
                       Warrant Share  Delivery  Date, and if after such date the
                       Holder is required by its broker to purchase  (in an open
                       market  transaction or otherwise)  shares of Common Stock
                       to deliver in satisfaction of a sale by the Holder of the
                       Warrant  Shares  which the Holder  anticipated  receiving
                       upon such exercise (a  "BUY-IN"),  then the Company shall
                       (1) pay in cash to the Holder the amount by which (x) the
                       Holder's  total  purchase  price   (including   brokerage
                       commissions,  if any) for the  shares of Common  Stock so
                       purchased  exceeds (y) the amount obtained by multiplying
                       (A) the number of Warrant  Shares  that the  Company  was
                       required to deliver to the Holder in connection  with the
                       exercise  at issue  times (B) the price at which the sell
                       order  giving  rise  to  such  purchase   obligation  was
                       executed,  and (2) at the  option of the  Holder,  either
                       reinstate  the  portion  of the  Warrant  and  equivalent
                       number of Warrant  Shares for which such exercise was not
                       honored  or deliver to the Holder the number of shares of
                       Common  Stock that would have been issued had the Company
                       timely   complied   with  its   exercise   and   delivery
                       obligations   hereunder.   For  example,  if  the  Holder
                       purchases  Common Stock having a total  purchase price of
                       $11,000 to cover a Buy-In  with  respect to an  attempted
                       exercise of shares of Common Stock with an aggregate sale
                       price giving rise to such purchase obligation of $10,000,

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                       under clause (1) of the  immediately  preceding  sentence
                       the Company  shall be required to pay the Holder  $1,000.
                       The Holder  shall  provide  the  Company  written  notice
                       indicating  the amounts  payable to the Holder in respect
                       of the Buy-In, together with applicable confirmations and
                       other  evidence  reasonably  requested  by  the  Company.
                       Nothing herein shall limit a Holder's right to pursue any
                       other  remedies  available to it hereunder,  at law or in
                       equity  including,   without  limitation,   a  decree  of
                       specific   performance   and/or  injunctive  relief  with
                       respect  to  the  Company's  failure  to  timely  deliver
                       certificates  representing  shares of Common  Stock  upon
                       exercise of the Warrant as required pursuant to the terms
                       hereof.

                             vi. NO  FRACTIONAL  SHARES OR SCRIP.  No fractional
                       shares or scrip  representing  fractional shares shall be
                       issued  upon  the  exercise  of this  Warrant.  As to any
                       fraction  of a share  which  Holder  would  otherwise  be
                       entitled  to  purchase  upon such  exercise,  the Company
                       shall pay a cash  adjustment  in  respect  of such  final
                       fraction in an amount equal to such  fraction  multiplied
                       by the Exercise Price.

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

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

      SECTION 3.  CERTAIN ADJUSTMENTS.

                 a) STOCK  DIVIDENDS  AND SPLITS.  If the  Company,  at any time
            while this  Warrant is  outstanding:  (A) pays a stock  dividend  or
            otherwise  make a  distribution  or  distributions  on shares of its
            Common  Stock or any other  equity or equity  equivalent  securities
            payable in shares of Common Stock  (which,  for  avoidance of doubt,
            shall not include any shares of Common  Stock  issued by the Company
            pursuant to this  Warrant),  (B)  subdivides  outstanding  shares of
            Common Stock into a larger number of shares, (C) combines (including
            by way of reverse  stock split)  outstanding  shares of Common Stock
            into a smaller number of shares,  or (D) issues by  reclassification
            of shares of the Common  Stock any  shares of  capital  stock of the
            Company, then in each case the

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

                 b) INTENTIONALLY OMITTED.

                 c) PRO RATA DISTRIBUTIONS. If the Company, at any time prior to
            the  Termination  Date,  shall  distribute  to all holders of Common
            Stock  (and  not  to  Holders  of  the  Warrants)  evidences  of its
            indebtedness  or assets or rights or  warrants to  subscribe  for or
            purchase  any  security  other than the Common Stock (which shall be
            subject to Section 3(b)),  then in each such case the Exercise Price
            shall be  adjusted  by  multiplying  the  Exercise  Price in  effect
            immediately  prior to the  record  date fixed for  determination  of
            stockholders  entitled to receive such distribution by a fraction of
            which the denominator  shall be the VWAP determined as of the record
            date mentioned  above, and of which the numerator shall be such VWAP
            on such  record  date less the then per share fair  market  value at
            such  record  date of the  portion  of such  assets or  evidence  of
            indebtedness so distributed  applicable to one outstanding  share of
            the Common  Stock as  determined  by the Board of  Directors in good
            faith.  In  either  case the  adjustments  shall be  described  in a
            statement  provided  to the  Holders  of the  portion  of  assets or
            evidences of indebtedness so distributed or such subscription rights
            applicable to one share of Common Stock.  Such  adjustment  shall be
            made  whenever  any  such  distribution  is made  and  shall  become
            effective immediately after the record date mentioned above.

                 d) FUNDAMENTAL TRANSACTION.  If, at any time while this Warrant
            is outstanding,  (A) the Company effects any merger or consolidation
            of the Company with or into another Person,  (B) the Company effects
            any  sale  of all or  substantially  all of its  assets  in one or a
            series of related  transactions,  (C) any tender  offer or  exchange
            offer  (whether  by the  Company  or another  Person)  is  completed
            pursuant to which holders of Common Stock are permitted to tender or
            exchange their shares for other securities, cash or property, or (D)
            the Company effects any  reclassification of the Common Stock or any
            compulsory  share  exchange  pursuant  to which the Common  Stock is
            effectively  converted into or exchanged for other securities,  cash
            or property (in any such case, a "FUNDAMENTAL  TRANSACTION"),  then,
            upon any subsequent exercise of this Warrant,  the Holder shall have
            the right to receive,  for each  Warrant  Share that would have been
            issuable upon such exercise absent such Fundamental Transaction,  at
            the option of the Holder,  (a) upon  exercise of this  Warrant,  the
            number  of  shares of Common  Stock of the  successor  or  acquiring
            corporation or of the Company,  if it is the surviving  corporation,
            and Alternate  Consideration  receivable upon or as a result of such
            reorganization,    reclassification,    merger,   consolidation   or
            disposition  of assets by a Holder of the number of shares of Common
            Stock for which this  Warrant is  exercisable  immediately  prior to
            such  event  or  (b) if  the  Company  is  acquired  in an all  cash
            transaction,  cash equal to the

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            value  of  this  Warrant  as  determined  in  accordance   with  the
            Black-Scholes     option    pricing    formula    (the    "ALTERNATE
            CONSIDERATION").   For   purposes   of  any   such   exercise,   the
            determination of the Exercise Price shall be appropriately  adjusted
            to apply to such  Alternate  Consideration  based on the  amount  of
            Alternate  Consideration  issuable in respect of one share of Common
            Stock  in  such  Fundamental  Transaction,  and  the  Company  shall
            apportion the Exercise Price among the Alternate  Consideration in a
            reasonable  manner  reflecting  the relative  value of any different
            components  of the  Alternate  Consideration.  If  holders of Common
            Stock are given any choice as to the securities, cash or property to
            be received in a Fundamental  Transaction,  then the Holder shall be
            given the same choice as to the Alternate  Consideration it receives
            upon  any  exercise  of  this  Warrant  following  such  Fundamental
            Transaction.  To the extent  necessary to  effectuate  the foregoing
            provisions, any successor to the Company or surviving entity in such
            Fundamental  Transaction  shall  issue to the  Holder a new  warrant
            consistent with the foregoing provisions and evidencing the Holder's
            right to exercise  such warrant into  Alternate  Consideration.  The
            terms of any agreement  pursuant to which a Fundamental  Transaction
            is effected  shall  include terms  requiring  any such  successor or
            surviving  entity to comply with the provisions of this Section 3(d)
            and insuring  that this Warrant (or any such  replacement  security)
            will be similarly adjusted upon any subsequent transaction analogous
            to a Fundamental Transaction.

                 e)  EXEMPT   ISSUANCE.   Notwithstanding   the  foregoing,   no
            adjustments, Alternate Consideration nor notices shall be made, paid
            or issued under this Section 3 in respect of an Exempt Issuance.

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

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

                 h) NOTICE TO HOLDERS.

                         i. ADJUSTMENT TO EXERCISE PRICE.  Whenever the Exercise
                    Price is adjusted  pursuant  to this  Section 3, the Company
                    shall  promptly  mail to each Holder a notice  setting forth
                    the Exercise Price after such adjustment and setting forth a
                    brief statement of the facts requiring such  adjustment.  If
                    the Company  issues a variable  rate  security,  despite the
                    prohibition thereon in the Purchase  Agreement,  the Company
                    shall be deemed to have issued  Common Stock or Common Stock
                    Equivalents  at the lowest  possible  conversion or exercise
                    price at which such securities may be converted or exercised
                    in the case of a Variable  Rate  Transaction  (as defined in
                    the Purchase Agreement), or the lowest possible adjustment

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                    price in the case of an MFN  Transaction  (as defined in the
                    Purchase Agreement.

                         ii.  NOTICE TO ALLOW  EXERCISE  BY  HOLDER.  If (A) the
                    Company shall declare a dividend (or any other distribution)
                    on the Common Stock; (B) the Company shall declare a special
                    nonrecurring  cash dividend on or a redemption of the Common
                    Stock;  (C) the Company shall  authorize the granting to all
                    holders of the Common  Stock rights or warrants to subscribe
                    for or purchase any shares of capital  stock of any class or
                    of any rights;  (D) the approval of any  stockholders of the
                    Company   shall  be   required   in   connection   with  any
                    reclassification  of the Common Stock, any  consolidation or
                    merger to which the Company is a party, any sale or transfer
                    of all or substantially all of the assets of the Company, of
                    any compulsory  share  exchange  whereby the Common Stock is
                    converted into other securities,  cash or property;  (E) the
                    Company  shall   authorize  the  voluntary  or   involuntary
                    dissolution, liquidation or winding up of the affairs of the
                    Company;  then, in each case,  the Company shall cause to be
                    mailed  to the  Holder  at its  last  addresses  as it shall
                    appear upon the Warrant Register of the Company, at least 20
                    calendar  days prior to the  applicable  record or effective
                    date hereinafter specified, a notice stating (x) the date on
                    which  a  record  is to be  taken  for the  purpose  of such
                    dividend,  distribution,  redemption, rights or warrants, or
                    if a record  is not to be  taken,  the date as of which  the
                    holders of the Common Stock of record to be entitled to such
                    dividend, distributions,  redemption, rights or warrants are
                    to  be   determined   or  (y)  the   date  on   which   such
                    reclassification,  consolidation,  merger, sale, transfer or
                    share exchange is expected to become effective or close, and
                    the date as of  which it is  expected  that  holders  of the
                    Common Stock of record  shall be entitled to exchange  their
                    shares of the  Common  Stock for  securities,  cash or other
                    property    deliverable    upon    such    reclassification,
                    consolidation,  merger,  sale,  transfer or share  exchange;
                    PROVIDED, that the failure to mail such notice or any defect
                    therein  or in the  mailing  thereof  shall not  affect  the
                    validity of the corporate action required to be specified in
                    such notice. The Holder is entitled to exercise this Warrant
                    during  the  20-day  period  commencing  on the date of such
                    notice to the effective  date of the event  triggering  such
                    notice.

           SECTION 4. TRANSFER OF WARRANT.

                 a)  TRANSFERABILITY.  Subject to compliance with any applicable
            securities  laws and the  conditions  set forth in Sections 5(a) and
            4(d) hereof and to the  provisions  of Section  4.1 of the  Purchase
            Agreement,  this Warrant and all rights hereunder are  transferable,
            in whole or in part, upon surrender of this Warrant at the principal
            office of the Company,  together  with a written  assignment of this
            Warrant  substantially  in the form attached hereto duly executed by
            the Holder or its agent or attorney and funds  sufficient to pay any
            transfer taxes payable upon the making of such  transfer.  Upon such
            surrender and, if required,  such payment, the Company shall execute
            and deliver a new Warrant or

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            Warrants  in  the  name  of the  assignee  or  assignees  and in the
            denomination  or  denominations  specified  in  such  instrument  of
            assignment, and shall issue to the assignor a new Warrant evidencing
            the portion of this Warrant not so assigned,  and this Warrant shall
            promptly  be  cancelled.  A Warrant,  if properly  assigned,  may be
            exercised by a new holder for the purchase of Warrant Shares without
            having a new Warrant issued.

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

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

                 d) TRANSFER  RESTRICTIONS.  If, at the time of the surrender of
            this Warrant in connection  with any transfer of this  Warrant,  the
            transfer  of this  Warrant  shall not be  registered  pursuant to an
            effective  registration statement under the Securities Act and under
            applicable  state  securities  or blue sky  laws,  the  Company  may
            require,  as a condition  of  allowing  such  transfer  (i) that the
            Holder or transferee of this Warrant, as the case may be, furnish to
            the Company a written  opinion of counsel (which opinion shall be in
            form,  substance  and scope  customary  for  opinions  of counsel in
            comparable  transactions)  to the effect that such  transfer  may be
            made  without  registration  under  the  Securities  Act  and  under
            applicable  state  securities or blue sky laws, (ii) that the holder
            or  transferee  execute  and  deliver to the  Company an  investment
            letter in form and  substance  acceptable  to the  Company and (iii)
            that the transferee be an  "accredited  investor" as defined in Rule
            501(a)(1),  (a)(2),  (a)(3), (a)(7), or (a)(8) promulgated under the
            Securities Act or a qualified institutional buyer as defined in Rule
            144A(a) under the Securities Act.

      SECTION 5.  MISCELLANEOUS.

                 a) TITLE TO WARRANT.  Prior to the Termination Date and subject
            to compliance  with  applicable  laws and Section 4 of this Warrant,
            this Warrant and all rights hereunder are transferable,  in whole or
            in part,  at the  office or agency of the  Company  by the Holder in
            person  or by  duly  authorized  attorney,  upon  surrender  of this
            Warrant  together with the Assignment  Form annexed hereto  properly
            endorsed. The transferee shall sign an investment letter in form and
            substance reasonably satisfactory to the Company.

                 b) NO RIGHTS AS SHAREHOLDER  UNTIL EXERCISE.  This Warrant does
            not  entitle  the Holder to any voting  rights or other  rights as a
            shareholder  of the Company prior to the exercise  hereof.  Upon the
            surrender of this Warrant and the payment of the aggregate

                                       9
<PAGE>

            Exercise  Price (or by means of a cashless  exercise),  the  Warrant
            Shares  so  purchased  shall be and be  deemed  to be issued to such
            Holder  as the  record  owner  of such  shares  as of the  close  of
            business on the later of the date of such surrender or payment.

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

                 d) SATURDAYS,  SUNDAYS, HOLIDAYS, ETC. If the last or appointed
            day for the  taking  of any  action or the  expiration  of any right
            required or granted  herein  shall be a Saturday,  Sunday or a legal
            holiday,  then  such  action  may be  taken  or  such  right  may be
            exercised on the next succeeding day not a Saturday, Sunday or legal
            holiday.

                 e) AUTHORIZED SHARES.

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

                    Except  and to the extent as waived or  consented  to by the
            Holder,  the  Company  shall not by any action,  including,  without
            limitation, amending its certificate of incorporation or through any
            reorganization,   transfer   of   assets,   consolidation,   merger,
            dissolution,  issue or sale of  securities  or any  other  voluntary
            action,  avoid or seek to avoid the observance or performance of any
            of the terms of this  Warrant,  but will at all times in good  faith
            assist in the  carrying  out of all such  terms and in the taking of
            all such actions as may be necessary or  appropriate  to protect the
            rights of Holder as set forth in this  Warrant  against  impairment.
            Without  limiting the generality of the foregoing,  the Company will
            (a) not  increase  the par  value of any  Warrant  Shares  above the
            amount payable therefor upon such exercise immediately prior to such
            increase in par value,  (b) take all such action as may be necessary
            or  appropriate  in order that the  Company  may validly and legally
            issue fully paid and nonassessable  Warrant Shares upon

                                       10
<PAGE>

            the exercise of this Warrant,  and (c) use  commercially  reasonable
            efforts to obtain all such  authorizations,  exemptions  or consents
            from any public regulatory body having  jurisdiction  thereof as may
            be necessary to enable the Company to perform its obligations  under
            this Warrant.

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

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

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

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

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

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

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

                                       11
<PAGE>

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

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

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

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

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

                                       12
<PAGE>

            IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated:  February 14, 2005

                                    VISION-SCIENCES, INC.

                                     By:----------------------------------------
                                        Name:
                                        Title:

                                       13
<PAGE>

                               NOTICE OF EXERCISE

TO:   VISION-SCIENCES, INC.

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

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

                   [ ] in lawful money of the United States; or

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

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

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

The Warrant Shares shall be delivered to the following:

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

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

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

            (4) ACCREDITED INVESTOR. The undersigned is an "accredited investor"
as defined in  Regulation D  promulgated  under the  Securities  Act of 1933, as
amended.

[SIGNATURE OF HOLDER]

Name of Investing Entity:-------------------------------------------------------
SIGNATURE OF AUTHORIZED SIGNATORY OF INVESTING ENTITY:--------------------------
Name of Authorized Signatory:---------------------------------------------------
Title of Authorized Signatory:--------------------------------------------------
Date:---------------------------------------------------------------------------

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

            FOR VALUE RECEIVED,  the foregoing  Warrant and all rights evidenced
thereby are hereby assigned to

------------------------------------------------ whose address is

-----------------------------------------------------------------.

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

                                          Dated:  ---------------, -----

            Holder's Signature:  --------------------------------

            Holder's Address:    --------------------------------

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

Signature Guaranteed: -------------------------------------------

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

EXHIBIT 10.1      STOCK PLAN

                              ARMOR ELECTRIC, INC.
                   2005 NON-QUALIFIED STOCK COMPENSATION PLAN

1. PURPOSE OF PLAN

         1.1      This 2003 NON-QUALIFIED STOCK COMPENSATION PLAN (the "Plan")
                  of Armor Electric, Inc. (the "Company") a Florida corporation
                  for employees, directors and other persons associated with the
                  Company, is intended to advance the best interests of the
                  Company by providing those persons who have a substantial
                  responsibility for its management and growth with additional
                  incentive and by increasing their proprietary interest in the
                  success of the Company, thereby encouraging them to maintain
                  their relationships with the Company. Further, the
                  availability and offering of common stock under the Plan
                  supports and increases the Company's ability to attract and
                  retain individuals of exceptional talent upon whom, in large
                  measure, the sustained progress, growth and profitability of
                  the Company depends.

2. DEFINITIONS

         2.1      For Plan purposes, except where the context might clearly
                  indicate otherwise, the following terms shall have the
                  meanings set forth below:

                  "Board" shall mean the Board of Directors of the Company.

                  "Committee" shall mean the Compensation Committee, or such
                  other committee appointed by the Board, which shall be
                  designated by the Board to administer the Plan, or the Board
                  if no committees have been established. The Committee shall be
                  composed of three or more persons as from time to time are
                  appointed to serve by the Board. Each member of the Committee,
                  while serving as such, shall be a disinterested person with
                  the meaning of Rule 16b-3 promulgated under the Securities
                  Exchange Act of 1934.

                  "Common Shares" shall mean the Company's Common Shares, $.001
                  par value per share, or, in the event that the outstanding
                  Common Shares are hereafter changed into or exchanged for
                  different shares of securities of the Company, such other
                  shares or securities.

                  "Company" shall mean Armor Electric, Inc., a Florida
                  corporation, and any parent or subsidiary corporation of Armor
                  Electric, Inc.

<PAGE>

                  "Common Stock" shall mean shares of common stock which are
                  issued by the Company pursuant to Section 5 of this Plan..

                  "Common Stockholder" means the employee of, consultant to, or
                  director of the Company or other person to whom shares of
                  Common Stock are issued pursuant to this Plan.

                  "Common Stock Agreement" means an agreement executed by a
                  Common Stockholder and the Company as contemplated by Section
                  5, below, which imposes on the shares of Common Stock held by
                  the Common Stockholder such restrictions as the Board or
                  Committee deem appropriate.

3. ADMINISTRATION OF THE PLAN

         3.1      The Committee shall administer the Plan and accordingly, it
                  shall have full power to grant Common Stock, construe and
                  interpret the Plan, establish rules and regulations and
                  perform all other acts, including the delegation of
                  administrative responsibilities, it believes reasonable and
                  proper.

         3.2      The determination of those eligible to receive Common Stock,
                  and the amount, type and timing of each grant and the terms
                  and conditions of the Common stock agreements shall rest in
                  the sole discretion of the Committee, subject to the
                  provisions of the Plan.

         3.3      The Board, or the Committee, may correct any defect, supply
                  any omission or reconcile any inconsistency in the Plan in the
                  manner and to the extent it shall deem necessary to carry it
                  into effect.

         3.4      Any decision made, or action taken, by the Committee or the
                  Board arising out of or in connection with the interpretation
                  and administration of the Plan shall be final and conclusive.

         3.5      Meetings of the Committee shall be held at such times and
                  places as shall be determined by the Committee. A majority of
                  the members of the Committee shall constitute a quorum for the
                  transaction of business, and the vote of a majority of those
                  members present at any meeting shall decide any question
                  brought before that meeting. In addition, the Committee may
                  take any action otherwise proper under the Plan by the
                  affirmative vote, taken without a meeting, of a majority of
                  its members.

<PAGE>

         3.6      No member of the Committee shall be liable for any act or
                  omission of any other member of the Committee or for any act
                  or omission on his own part, including, but not limited to,
                  the exercise of any power or discretion given to him under the
                  Plan, except those resulting from his own gross negligence or
                  willful misconduct.

         3.7      The Company shall furnish the Committee with such clerical and
                  other assistance as is necessary in the performance of its
                  duties hereunder and such other pertinent information as the
                  Committee may require.

4. SHARES SUBJECT TO THE PLAN

         4.1      The total number of shares of the Company available for grants
                  of Common Stock under the Plan shall be three million
                  (3,000,000) Common Shares, subject to adjustment in accordance
                  with Article 7 of the Plan, which shares may be either
                  authorized but unissued or reacquired Common Shares of the
                  Company.

5. AWARD OF COMMON STOCK

         5.1      The Board or Committee from time to time, in its absolute
                  discretion, may award Common Stock to employees of,
                  consultants to, and directors of the Company, and such other
                  persons as the Board or Committee may select. The owner of
                  such Common Stock shall hold such stock subject to such
                  vesting schedule as the Board or Committee may impose, as
                  determined in the discretion of the Board or Committee.

         5.2      Common Stock shall be issued only pursuant to a Common Stock
                  Agreement, which shall be executed by the Common Stockholder
                  and the Company and which shall contain such terms and
                  conditions as the Board or Committee shall determine
                  consistent with this Plan, including such restrictions on
                  transfer as are imposed by the Common Stock Agreement.

         5.3      Upon delivery of the shares of Common Stock to the Common
                  Stockholder, below, the Common Stockholder shall have, unless
                  otherwise provided by the Board or Committee, all the rights
                  of a stockholder with respect to said shares, subject to the
                  restrictions in the Common Stock Agreement, including the
                  right to receive all dividends and other distributions paid or
                  made with respect to the Common Stock.

<PAGE>

         5.4.     Notwithstanding anything in this Plan or any Common Stock
                  Agreement to the contrary, no Common Stockholders may sell or
                  otherwise transfer, whether or not for value, any of the
                  Common Stock prior to the date on which the Common Stockholder
                  is vested therein.

         5.5      All shares of Common Stock issued under this Plan (including
                  any shares of Common Stock and other securities issued with
                  respect to the shares of Common Stock as a result of stock
                  dividends, stock splits or similar changes in the capital
                  structure of the Company) shall be subject to such
                  restrictions as the Board or Committee shall provide, which
                  restrictions may include, without limitation, restrictions
                  concerning voting rights, transferability of the Common Stock
                  and restrictions based on duration of employment with the
                  Company, Company performance and individual performance;
                  provided that the Board or Committee may, on such terms and
                  conditions as it may determine to be appropriate, remove any
                  or all of such restrictions. Common Stock may not be sold or
                  encumbered until all applicable restrictions have terminated
                  or expire. The restrictions, if any, imposed by the Board or
                  Committee or the Board under this Section 5 need not be
                  identical for all Common Stock and the imposition of any
                  restrictions with respect to any Common Stock shall not
                  require the imposition of the same or any other restrictions
                  with respect to any other Common Stock.

         5.6      In the discretion of the Board or Committee, the Common Stock
                  Agreement may provide that the Company shall have the a right
                  of first refusal with respect to the Common Stock and a right
                  to repurchase the vested Common Stock upon a termination of
                  the Common Stockholder's employment with the Company, the
                  termination of the Common Stockholder's consulting arrangement
                  with the Company, the termination of the Common Stockholder's
                  service on the Company's Board, or such other events as the
                  Board or Committee may deem appropriate.

         5.7      The Board or Committee shall cause a legend or legends to be
                  placed on certificates representing shares of Common Stock
                  that are subject to restrictions under Common Stock
                  Agreements, which legend or legends shall make appropriate
                  reference to the applicable restrictions.

<PAGE>

6. AMENDMENT AND TERMINATION OF PLAN

         6.1      The Board may at any time, and from time to time, suspend or
                  terminate the Plan in whole or in part or amend it from time
                  to time in such respects as the Board may deem appropriate and
                  in the best interest of the Company.

7. MISCELLANEOUS PROVISIONS

         7.1      No person shall have any claim or right to be granted Common
                  Stock under the Plan, and the grant of Common Stock under the
                  Plan shall not be construed as giving a Common Stockholder the
                  right to be retained by the Company.

         7.2      Any expenses of administering this Plan shall be borne by the
                  Company.

         7.3      Without amending the Plan, grants may be made to persons who
                  are foreign nationals or employed outside the United States,
                  or both, on such terms and conditions, consistent with the
                  Plan's purpose, different from those specified in the Plan as
                  may, in the judgment of the Committee, be necessary or
                  desirable to create equitable opportunities given differences
                  in tax laws in other countries.

<PAGE>

         7.4      In addition to such other rights of indemnification as they
                  may have as members of the Board or the Committee, the members
                  of the Committee shall be indemnified by the Company against
                  all costs and expenses reasonably incurred by them in
                  connection with any action, suit or proceeding to which they
                  or any of them may be party by reason of any action taken or
                  failure to act under or in connection with the Plan
                  thereunder, and against all amounts paid by them in settlement
                  thereof (provided such settlement is approved by independent
                  legal counsel selected by the Company) or paid by them in
                  satisfaction of a judgment in any such action, suit or
                  proceeding, except a judgment based upon a finding of bad
                  faith; provided that upon the institution of any such action,
                  suit or proceeding a Committee member shall, in writing, give
                  the Company notice thereof and an opportunity, at its own
                  expense, to handle and defend the same, before such Committee
                  member undertakes to handle and defend it on his own behalf.

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