Document:

Exhibit 10.80

Exhibit 10.80

	
AMENDMENT NO. 1 AND CONSENT

            This Amendment No. 1 and Consent (this “Amendment”), dated as of February 15, 2005, is entered into by and between HOST AMERICA CORPORATION,
a Colorado corporation (the "Company"),and LAURUS MASTER FUND, LTD., a Cayman Islands company ("Laurus"), for the purpose of amending the terms of (i) the Secured Convertible Term Note A, dated June 23, 2004 (as amended, modified or supplemented
from time to time, the “Term Note A”) issued by the Company to Laurus pursuant to the Security Purchase Agreement dated as of June 23, 2004, by and between the Company and Laurus (as amended, modified or supplemented from time to time, the
“Securities Purchase Agreement”), (ii) the Secured Convertible Term Note B, dated June 23, 2004 (as amended, modified or supplemented from time to time, the “Term Note B” and together with Term Note A, the “Term
Notes”) issued by the Company to Laurus pursuant to the Securities Purchase Agreement, (iii) the Restricted Account Side Letter by and between the Company and Laurus, dated as of June 23, 2004 (as amended, modified or supplemented from time to time,
the “Restricted Account Side Letter”), and (iv) the Registration Rights Agreement by and between the Company and Laurus, dated as of June 23, 2004 (as amended, modified or supplemented from time to time, the “Registration Rights
Agreement” and, together with the Security Purchase Agreement, the Term Note A, the Term Note B and Restricted Account Side Letter, the “Loan Documents”).  Capitalized terms used herein without definition shall have the meanings
ascribed to such terms in the Term Note A and the Term Note B, as applicable.

            WHEREAS, the Company and its wholly-owned subsidiary, GlobalNet Acquisition Corp., a Connecticut corporation (“Buyer”), desire to enter into
a certain Merger Agreement (the “Merger Agreement”) with RS Services, Inc., an Oklahoma corporation (“RS Services”) and Ronald Ray Sparks, the sole shareholder of RS Services (the “Shareholder”), whereby RS
Services will be merged with and into Buyer and the separate corporate existence of RS Services shall terminate (the “Merger”); 

            WHEREAS, RS Services currently has indebtedness outstanding to Liberty National Bank (“Liberty”) in the aggregate principal amount of
$589,032.87 (the “Liberty Debt”), which Liberty Debt is secured by substantially all of its assets of RS Services and the Company desires, simultaneous with the consummation of the Merger, to use sufficient proceeds from the Restricted Account to
repay in full the Liberty Debt;

            WHEREAS, promptly upon the consummation of the Merger, the Buyer desires to change its corporate name to R.S. Services of Connecticut, Inc.; and

            WHEREAS, Laurus has agreed to consent to the Merger and name change of the Buyer, as well as to release of certain funds from the Restricted Account sufficient
to repay the Liberty Debt and for working capital purposes, in each case on the terms and conditions set forth herein and, in consideration therefore and in consideration of the other agreements and amendments set forth herein, the receipt of which is hereby
acknowledged, the Company has agreed to issue an additional common stock purchase warrant to Laurus to purchase up to 25,000 shares of the Common Stock of the Company (the “New Warrant”);

            NOW, THEREFORE, in consideration of the above, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

            1.         Notwithstanding any terms of the Loan Documents to the contrary, Laurus hereby consents to: (i) the
consummation by the Company and the Buyer of the Merger pursuant to the terms and conditions of the Merger Agreement in the form delivered to Laurus on February __, 2005 and (ii) the change of the Buyer’s name to R.S. Services of Connecticut, Inc. without the
provision of 30 days prior written notice.

            2.         Section 2.1(a) of the Term Note A is hereby amended by deleting the last sentence appearing therein in its
entirety and inserting the following new sentence in lieu thereof:

	
               

	
“For purposes hereof, the initial “Fixed Conversion Price” means $5.03, provided, however, that the first One Million Dollars ($1,000,000) aggregate principal amount (the “Reduced Price
Conversion Amount”) of the Note and/or the Term Note B, collectively, converted into shares of Common Stock on or after February 15, 2005 shall be converted (including all interest and fees converted on or prior to the date of conversion in full of the
Reduced Price Conversion Amount) at a Fixed Conversion Price equal to $3.50; thereafter the Fixed Conversion Price shall revert to $5.03, subject to adjustment as set forth herein.”

            3.         Section 2.1(a) of the Term Note B is hereby amended by deleting the last sentence appearing therein in its
entirety and inserting the following new sentence in lieu thereof:

	
               

	
“For purposes hereof, the initial “Fixed Conversion Price” means $5.48, provided, however, that the first One Million Dollars ($1,000,000) aggregate principal amount (the “Reduced Price
Conversion Amount”) of the Note and/or the Term Note A, collectively, converted into shares of Common Stock on or after February 15, 2005 (including all interest and fees converted on or prior to the date of conversion in full of the Reduced Price
Conversion Amount) shall be converted at a Fixed Conversion Price equal to $3.50; thereafter the Fixed Conversion Price shall revert to $5.48, subject to adjustment as set forth herein.”

            4.         Notwithstanding the provisions of Section 1.2 of the Term Note A, no payments of principal under the Term
Note A shall be due on any Repayment Date prior to May 1, 2005, and for each such Repayment Date the Monthly Amount shall consist solely of accrued interest.  Commencing on May 1, 2005 and on each Repayment Date thereafter, Borrower shall make monthly principal
payments of $148,148.14, with the remaining outstanding principal balance due and payable in full on the Maturity Date, and for each such Repayment Date on or after May 1, 2005, the Monthly Amount shall include both principal then due and accrued interest.

            5.         The parties agree that, as of the date of this Amendment (after giving effect thereto), the funds that have
been released to the Borrower from the Restricted Account (as defined in the Restricted Account Agreement) are $972,000.  Notwithstanding the provisions of Section 1.2 of the Term Note B, no payments of principal under the Term Note B shall be due on any
Repayment Date prior to May 1, 2005, and for each such Repayment Date the Monthly

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Amount shall consist solely of accrued interest on the respective Amortizing Principal Amount.  Commencing on May 1, 2005 and on each Repayment Date thereafter, Borrower shall make monthly principal payments equal to such
amount as shall be calculated pursuant to the penultimate sentence of Section 1.2 of the Term Note B, with the remaining outstanding principal balance due and payable in full on the Maturity Date, and for each such Repayment Date on or after May 1, 2005, the Monthly
Amount shall include both principal then due and accrued interest.

            6.         The Company hereby agrees to, on or prior to February 18, 2005, file a Rule 424(b) supplement (the
“Post-Effective Supplement”) to its Registration Statements with the Securities and Exchange Commission (the “SEC”) relating to Term Note A and the Term Note B and the warrants issued in connection therewith (the
“Existing Registration Statement”), which Post-Effective Supplement states the Fixed Conversion Price applicable to the Term Note A and Term Note B, as applicable, and as set forth in Sections 2 and 3 of this Amendment.

            7.         Laurus and the Company hereby agree that, notwithstanding any prior agreement to the contrary, the shares of
Common Stock issuable as a result of such amendment and the change to the fixed conversion price to each of the Term Notes shall be registered in the Company’s next registration statement on Form S-3 (or such other appropriate form, excluding a Form S-8);
provided, however, that the Company shall register such shares immediately upon the written demand from Laurus if such a registration statement is not filed by the Company on or before March 15, 2005.  It is further agreed that, notwithstanding any prior
agreement to the contrary, to the extent such registration statement is not filed on or prior to March 15, 2005, the Company shall pay to Laurus liquidated damages in the amount and manner otherwise set forth in Section 2(b) of the Registration Rights
Agreement.

            3.         Upon the execution and delivery of this Amendment by the Company, Laurus hereby agrees to direct the North
Fork Bank to release the sum of Seven Hundred Fifty Thousand Dollars ($750,000, less the Unpaid Accrued Amount (as defined below)) to the Company upon consummation of the Merger, provided that, of such amount (x) Five Hundred Eighty Nine Thousand Thirty Two
Dollars 87/00 ($589,032.87) (the “Liberty Debt Payment”) shall be sent directly by North Fork Bank by wire transfer of immediately available funds to Liberty and (y) the remainder of such amount shall be sent to the Company by wire transfer of
immediately available funds.  Annex A hereto sets forth the wire instructions of each of Liberty and the Company.  Notwithstanding the foregoing, the entire sum of $750,000 referred to above shall for all purposes of the Term Note B be deemed a Release
Amount.  The parties agree that, as of February 1, 2005, the amount of accrued and unpaid interest on the Term Note A and Term Note B equals $31,520.72 (the “Unpaid Accrued Amount”).

            8.         The Company agrees and acknowledges that prior to the payment to Liberty of the Liberty Debt Payment, the
Company shall cause Liberty to execute and deliver the Pay Off Letter in the form attached hereto as Annex B.

            9.         This Amendment shall be effective as of the date hereof following (i) the execution and delivery of same by
each of the Company and Laurus, (ii) the execution and delivery of the New Warrant by the Company to Laurus and (iii) the execution and delivery of

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the Joinder Agreement substantially in the form attached hereto as Annex C together with all other documents requested by Laurus in connection therewith.

            10.       Except as specifically set forth in this Amendment, there are no other amendments to the Loan Documents, and all of the
other forms, terms and provisions of the Loan Documents remain in full force and effect.

            11.       The Company hereby represents and warrants to Laurus that as of the date hereof, no Event of Default exists and is
continuing and all representations, warranties and covenants made by Company in connection with the Loan Documents are true, correct and complete and all of Company’s and its Subsidiaries’ covenant requirements have been met.

            12.       This Amendment shall be binding upon the parties hereto and their respective successors and permitted assigns and shall
inure to the benefit of and be enforceable by each of the parties hereto and its successors and permitted assigns.  THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  This
Amendment may be executed in any number of counterparts, each of which shall be an original, but all of which shall constitute one instrument. 

*          *          *          *

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IN WITNESS WHEREOF, each of the Company and Laurus has caused this Amendment to be effective and signed in its name effective as of the date set forth above.

	
HOST AMERICA CORPORATION                        

	
 

	
 

	
By:       /s/ Geoffrey
Ramsey                                        

	
            Name:  Geoffrey Ramsey

	
            Title:     CEO

	
 

	
 

	
LAURUS MASTER FUND, LTD.

	
 

	
 

	
By:       /s/ Eugene
Gin                                                 

	
            Name:  Eugene Gin

	
            Title:     Director

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ANNEX A

WIRING INSTRUCTIONS

ANNEX B

ANNEX C

JOINDER AGREEMENT

                        THIS JOINDER IN SUBSIDIARY GUARANTY, MASTER SECURITY AGREEMENT AND STOCK PLEDGE
AGREEMENT  (this “Joinder”) is executed as of February __, 2005 by GlobalNet Acquisition Corp., a Connecticut corporation (“Joining Party”), and delivered to Laurus Master Fund, Ltd., a Cayman Islands company (the
“Purchaser”).  Except as otherwise defined herein, terms used herein and defined in the Purchase Agreement (as defined below) shall be used herein as therein defined.

W I T N E S S E T H:

                        WHEREAS, Host America Corporation, a Colorado corporation (the “Company”)
and the Purchaser, have entered into a Securities Purchase Agreement, dated as of June 23, 2004 (as amended, modi­fied or supplemented from time to time, the “Purchase Agreement”), providing for the issuance of the Note and the Warrant and the
execution of the Related Agreements referred to in the Purchase Agreement; and

                        WHEREAS, the Joining Party is a direct or indirect Subsidiary of the Company and
desires, or is required pursuant to the provisions of the Purchase Agreement, to become a Guarantor under the Subsidiary Guaranty, an Assignor under the Master Security Agreement and a Pledgor under the Stock Pledge Agreement;

                        NOW, THEREFORE, in consideration of the foregoing and other benefits accru­ing to
the Joining Party, the receipt and sufficiency of which are hereby acknowledged, the Joining Party hereby makes the following representations and warranties to the Purchaser and hereby covenants and agrees with the Purchaser as follows:

                        NOW, THEREFORE, the Joining Party agrees as follows:

                        1.         By this Joinder, the Joining Party
becomes (i) a Guarantor for all purposes under the Subsidiary Guaranty, (ii) an Assignor for all purposes under the Master Security Agreement and (iii) a Pledgor for all purposes under the Stock Pledge Agreement.

                        2.         The Joining Party agrees that, upon
its execution hereof, it will become a Guarantor under the Subsidiary Guaranty with respect to all Obligations (as defined in the Subsidiary Guaranty), and will be bound by all terms, condi­tions and duties applicable to a Guarantor under the Subsidiary Guaranty,
the Purchase Agreement and the other Related Agreements.  Without limitation of the foregoing, and in furtherance thereof, the Joining Party unconditionally and irrevocably, guarantees the due and punctual payment and performance of all Obligations (on the same
basis as the other Guarantors under the Subsidiary Guaranty).

                        3.         The Joining Party agrees that, upon
its execution hereof, it will become a Pledgor under, and as defined in, the Stock Pledge Agreement, and will be bound by all terms, condi­tions and duties applicable to a Pledgor under the Stock Pledge Agreement.  Without limita­tion of the foregoing
and in furtherance thereof, as security for the due and punctual payment of the Indebtedness (as defined in the Stock Pledge Agreement), the Joining Party

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hereby pledges, hypothecates, assigns, transfers, sets over and delivers to the Purchaser grants to the Purchaser a security interest in all Collateral (as defined in the Stock Pledge Agreement), if any, now owned or, to the
extent provided in the Stock Pledge Agreement, hereafter acquired by it.

                        4.         The Joining Party agrees that, upon
its execution hereof, it will become an Assignor under, and as defined in, the Master Security Agreement, and will be bound by all terms, conditions and duties applicable to an Assignor under the Master Security Agreement.  Without limitation of the foregoing
and in furtherance thereof, as security for the due and punctual payment of the Obligations (as defined in the Master Security Agreement), the Joining Party hereby pledges, hypothecates, assigns, transfers, sets over and delivers to the Purchaser and grants to the
Purchaser a security interest in all Collateral (as defined in the Master Security Agreement), if any, now owned or, to the extent provided in the Master Security Agreement, hereafter acquired by it.

                        5.         In connection with the grant by the
Joining Party, pursuant to paragraphs 3 and 4 above, of a security interest in all of its right, title and interest in the Collateral (as defined in each of the Master Security Agreement and the Stock Pledge Agreement) in favor of the Purchaser, the Joining Party (i)
agrees to deliver to the Purchaser, together with the delivery of this Joinder, each of the items specified in Section 3of the Stock Pledge Agreement, (ii) agrees to execute (if necessary) and deliver to the Purchaser such financ­ing statements, in form
acceptable to the Purchaser, as the Purchaser may request or as are necessary or desirable in the opinion of the Purchaser to establish and maintain a valid, enforceable, first priority perfected security interest in the Collateral (as defined in each of the Master
Security Agreement and the Stock Pledge Agreement) owned by the Joining Party, (iii) authorizes the Purchaser to file any such financing statements without the signature of the Joining Party where permitted by law (such authorization includes a description of the
Collateral as “all assets and all personal property, whether now owned and/or hereafter acquired” of the Joining Party all assets and all personal property, whether now owned and/or hereafter acquired” (or any substantially similar variation
thereof)) and (iv) agrees to execute and deliver to the Purchaser assignments of United States trademarks, patents and copyrights (and the respective applications therefor) to the extent requested by the Purchaser.

                        6.         Without limiting the foregoing, the
Joining Party hereby makes and under­takes, as the case may be, each covenant, representation and warranty made by, and as (i) each Guarantor pursuant to the Subsidiary Guaranty, (ii) each Assignor pursuant to the Master Security Agreement and (iii) each
Pledgor pursuant to the Stock Pledge Agreement, in each case as of the date hereof (except to the extent any such representation or warranty relates solely to an earlier date in which case such repre­sen­ta­tion and warranty shall be true and correct as
of such earlier date), and agrees to be bound by all covenants, agreements and obligations of a Guarantor, Assignor and Pledgor pursuant to the Subsidiary Guaranty, Master Security Agreement and Stock Pledge Agreement, respectively, and all other Related Agreements
to which it is or becomes a party.

                        8.         Each of Schedules _________ of the
Purchase Agreement is hereby amended by supplementing such Schedule with the information for the Joining Party contained on Schedules _______ attached hereto as Annex I.  Schedule A to the Stock Pledge Agreement is

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hereby amended by supplementing such Schedule with the information for the Joining Party contained on Schedule A attached hereto as Annex II.  In addition, Schedule A to the Master Security Agreement is hereby amended by
supplementing such Schedule with the information for the Joining Party contained on Schedule A attached hereto as Annex III.

                        9.         This Joinder shall be binding upon
the parties hereto and their respective successors and permitted assigns and shall inure to the benefit of and be enforce­able by each of the parties hereto and its successors and permitted assigns, provided, however, the Joining Party may not
assign any of its rights, obligations or interest hereunder or under the Purchase Agreement or any other Related Agreement without the prior written consent of the Purchaser or as otherwise permitted by the Purchase Agreement or any Related Agreement.  THIS
JOINDER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  This Joinder may be executed in any number of counterparts, each of which shall be an original, but all of which shall constitute one
instrument.  In the event that any provision of this Joinder shall prove to be invalid or unenforceable, such provi­sion shall be deemed to be sever­able from the other provi­sions of this Joinder which shall remain binding on all parties
hereto.

                        10.       From and after the execution and delivery
hereof by the parties hereto, this Joinder shall constitute a “Related Agreement” for all purposes of the Purchase Agreement and the Related Agreements.

                        11.       The effective date of this Joinder is February
__, 2005.

*     *     *

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                        IN WITNESS WHEREOF, the Joining Party has caused this Joinder to be duly executed as of
the date first above written.

	
GLOBALNET ACQUISITION CORP.                     

	
 

	
 

	
By:                                                                              

	
            Name:  

	
            Title:  

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Accepted and Acknowledged by:

	
LAURUS MASTER FUND, LTD.                     

	
 

	
 

	
By:                                                                              

	
            Name:  

	
            Title:  

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ANNEX I

Page 7

ANNEX II

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ANNEX IIIExhibit 10.81

Exhibit 10.81

	
               

	
THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE
UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
TO HOST AMERICA CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.

	
               

	
Right to Purchase up to 25,000 Shares of Common Stock of

 Host America Corporation

 (subject to adjustment as provided herein)

	

 COMMON STOCK PURCHASE WARRANT

	
No. _________________

	
Issue Date:  February 15, 2005

            HOST AMERICA CORPORATION, a corporation organized under the laws of the State of Colorado (“CAFE”), hereby certifies that, for value received,
LAURUS MASTER FUND, LTD., or assigns (the "Holder"), is entitled, subject to the terms set forth below, to purchase from the Company (as defined herein) from and after the Issue Date of this Warrant and at any time or from time to time before 5:00 p.m., New York
time, through the close of business June 23, 2014 (the "Expiration Date"), up to 25,000 fully paid and nonassessable shares of Common Stock (as hereinafter defined), $0.001 par value per share, at the applicable Exercise Price per share (as defined below).  The
number and character of such shares of Common Stock and the applicable Exercise Price per share are subject to adjustment as provided herein.

            As used herein the following terms, unless the context otherwise requires, have the following respective meanings:

	
          

	
            (a)        The term "Company" shall include CAFE and any corporation which shall succeed, or assume the obligations of, CAFE
hereunder.

	
 

	
		
            (b)        The term "Common Stock" includes (i) the Company's Common Stock, par value $0.001 per share; and (ii) any other
securities into which or for which any of the securities described in (a) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise.

	
 

	
		
            (c)        The term "Other Securities" refers to any stock (other than Common Stock) and other securities of the Company or
any other person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have received, on the exercise of the Warrant, in lieu of or in addition to Common Stock, or

	

	
          

	
which at any time shall be issuable or shall have been issued in exchange for or in replacement of Common Stock or Other Securities pursuant to Section 4 or otherwise.

	
 

	
		
            (d)        The "Exercise Price" applicable under this Warrant shall be $5.98.

            1.         Exercise of Warrant.

                        1.1       Number of Shares Issuable upon Exercise.  From and after the date hereof
through and including the Expiration Date, the Holder shall be entitled to receive, upon exercise of this Warrant in whole or in part, by delivery of an original or fax copy of an exercise notice in the form attached hereto as Exhibit A (the "Exercise Notice"),
shares of Common Stock of the Company, subject to adjustment pursuant to Section 4.

                        1.2       Fair Market Value.  For purposes hereof, the "Fair Market Value" of a
share of Common Stock as of a particular date (the "Determination Date") shall mean:

	
          

	
            (a)        If the Company's Common Stock is traded on the American Stock Exchange or  another national exchange or is
quoted on the National or SmallCap Market of The Nasdaq Stock Market, Inc.("Nasdaq"), then the closing or last sale price, respectively, reported for the last business day immediately preceding the Determination Date.

	
 

	
		
            (b)        If the Company's Common Stock is not traded on the American Stock Exchange or another national exchange or on the
Nasdaq but is traded on the NASD OTC Bulletin Board, then the mean of the average of the closing bid and asked prices reported for the last business day immediately preceding the Determination Date.

	
 

	
		
            (c)        Except as provided in clause (d) below, if the Company's Common Stock is not publicly traded, then as the Holder
and the Company agree or in the absence of agreement by arbitration in accordance with the rules then in effect of the American Arbitration Association, before a single arbitrator to be chosen from a panel of persons qualified by education and training to pass on the
matter to be decided.

	
 

	
		
            (d)        If the Determination Date is the date of a liquidation, dissolution or winding up, or any event deemed to be a
liquidation, dissolution or winding up pursuant to the Company's charter, then all amounts to be payable per share to holders of the Common Stock pursuant to the charter in the event of such liquidation, dissolution or winding up, plus all other amounts to be payable
per share in respect of the Common Stock in liquidation under the charter, assuming for the purposes of this clause (d) that all of the shares of Common Stock then issuable upon exercise of the Warrant are outstanding at the Determination Date.

                        1.3       Company Acknowledgment.  The
Company will, at the time of the exercise of the Warrant, upon the request of the holder hereof acknowledge in writing its continuing obligation to afford to such holder any rights to which such holder shall continue to be entitled after such exercise in accordance
with the provisions of this Warrant. If the holder shall fail to make any such request, such failure shall not affect the continuing obligation of the Company to afford to such holder any such rights.

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                        1.4       Trustee for Warrant Holders.  In the event that a bank or trust company
shall have been appointed as trustee for the holders of the Warrant pursuant to Subsection 3.2, such bank or trust company shall have all the powers and duties of a warrant agent (as hereinafter described) and shall accept, in its own name for the account of the
Company or such successor person as may be entitled thereto, all amounts otherwise payable to the Company or such successor, as the case may be, on exercise of this Warrant pursuant to this Section 1.

            2.         Procedure for Exercise.

                        2.1       Delivery of Stock Certificates, Etc., on Exercise.  The Company agrees
that the shares of Common Stock purchased upon exercise of this Warrant shall be deemed to be issued to the Holder as the record owner of such shares as of the close of business on the date on which this Warrant shall have been surrendered and payment made for such
shares in accordance herewith.  As soon as practicable after the exercise of this Warrant in full or in part, and in any event within three (3) business days thereafter, the Company at its expense (including the payment by it of any applicable issue taxes) will
cause to be issued in the name of and delivered to the Holder, or as such Holder (upon payment by such Holder of any applicable transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly and validly
issued, fully paid and nonassessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled on such exercise, plus, in lieu of any fractional share to which such holder would otherwise be entitled, cash equal to such fraction multiplied
by the then Fair Market Value of one full share, together with any other stock or other securities and property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1 or otherwise.

                        2.2       Exercise.  Payment may be made either (i) in cash or by certified or
official bank check payable to the order of the Company equal to the applicable aggregate Exercise Price, (ii) by delivery of the Warrant, or shares of Common Stock and/or Common Stock receivable upon exercise of the Warrant in accordance with Section (b) below, or
(iii) by a combination of any of the foregoing methods, for the number of Common Shares specified in such Exercise Notice (as such exercise number shall be adjusted to reflect any adjustment in the total number of shares of Common Stock issuable to the Holder per the
terms of this Warrant) and the Holder shall thereupon be entitled to receive the number of duly authorized, validly issued, fully-paid and non-assessable shares of Common Stock (or Other Securities) determined as provided herein.  Notwithstanding any provisions
herein to the contrary, if the Fair Market Value of one share of Common Stock is greater than the Exercise Price (at the date of calculation as set forth below), in lieu of exercising this Warrant for cash, the Holder may elect to receive shares equal to the value
(as determined below) of this Warrant (or the portion thereof being exercised) by surrender of this Warrant at the principal office of the Company together with the properly endorsed Exercise Notice in which event the Company shall issue to the Holder a number of
shares of Common Stock computed using the following formula:

3

		
X=Y

	
(A-B)

			
	
              

	
               

	
A

	
Where X =

	
the number of shares of Common Stock to be issued to the Holder

	
                                  

	
	
Y =

	
the number of shares of Common Stock purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised (at the date of such calculation)

	
 

	
	
A =

	
the Fair Market Value of one share of the Company's Common Stock (at the date of such calculation)

	
 

	
	
B =

	
Exercise Price (as adjusted to the date of such calculation)

            3.         Effect of Reorganization, Etc.; Adjustment of Exercise Price.

                        3.1       Reorganization, Consolidation, Merger, Etc.  In case at any time or from
time to time, the Company shall (a) effect a reorganization, (b) consolidate with or merge into any other person, or (c) transfer all or substantially all of its properties or assets to any other person under any plan or arrangement contemplating the dissolution of
the Company, then, in each such case, as a condition to the consummation of such a transaction, proper and adequate provision shall be made by the Company whereby the Holder of this Warrant, on the exercise hereof as provided in Section 1 at any time after the
consummation of such reorganization, consolidation or merger or the effective date of such dissolution, as the case may be, shall receive, in lieu of the Common Stock (or Other Securities) issuable on such exercise prior to such consummation or such effective date,
the stock and other securities and property (including cash) to which such Holder would have been entitled upon such consummation or in connection with such dissolution, as the case may be, if such Holder had so exercised this Warrant, immediately prior thereto, all
subject to further adjustment thereafter as provided in Section 4.

                        3.2       Dissolution.  In the event of any dissolution of the Company following
the transfer of all or substantially all of its properties or assets, the Company, concurrently with any distributions made to holders of its Common Stock, shall at its expense deliver or cause to be delivered to the Holder the stock and other securities and property
(including cash, where applicable) receivable by the Holder of the Warrant pursuant to Section 3.1, or, if the Holder shall so instruct the Company, to a bank or trust company specified by the Holder and having its principal office in New York, NY as trustee for the
Holder of the Warrant (the “Trustee”).

                        3.3       Continuation of Terms.  Upon any reorganization, consolidation, merger or
transfer (and any dissolution following any transfer) referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to the shares of stock and other securities and property receivable on the exercise of
this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the issuer of any such stock or other securities, including, in the
case of any such transfer, the person acquiring all or substantially all of the properties or assets of the Company, whether or not such person shall have expressly assumed the terms of this Warrant as provided in Section 4.  In the event this Warrant does not
continue in full force and effect after the consummation of the transactions described in this Section 3, then the Company's securities and property (including cash, where applicable) receivable by the Holders of the Warrant will be delivered to Holder or the Trustee
as contemplated by Section 3.2.

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            4.         Extraordinary Events Regarding Common Stock.  In the event that the Company shall (a) issue additional shares of the Common Stock as a
dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such event, the Exercise
Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Exercise Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such event and the denominator of
which shall be the number of shares of Common Stock outstanding immediately after such event, and the product so obtained shall thereafter be the Exercise Price then in effect. The Exercise Price, as so adjusted, shall be readjusted in the same manner upon the
happening of any successive event or events described herein in this Section 4.  The number of shares of Common Stock that the holder of this Warrant shall thereafter, on the exercise hereof as provided in Section 1, be entitled to receive shall be increased to
a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator is the Exercise Price that would otherwise (but for the
provisions of this Section 4) be in effect, and (b) the denominator is the Exercise Price in effect on the date of such exercise.

            5.         Certificate as to Adjustments.  In each case of any adjustment or readjustment in the shares of Common Stock (or Other Securities)
issuable on the exercise of the Warrant, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee to compute such adjustment or readjustment in accordance with the terms of the Warrant and prepare a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of (a) the consideration received or receivable by the Company for any additional shares of Common Stock (or Other
Securities) issued or sold or deemed to have been issued or sold, (b) the number of shares of Common Stock (or Other Securities) outstanding or deemed to be outstanding, and (c) the Exercise Price and the number of shares of Common Stock to be received upon exercise
of this Warrant, in effect immediately prior to such adjustment or readjustment and as adjusted or readjusted as provided in this Warrant.  The Company will forthwith mail a copy of each such certificate to the holder of the Warrant and any Warrant agent of the
Company (appointed pursuant to Section 11 hereof).

            6.         Reservation of Stock, Etc., Issuable on Exercise of Warrant.   The Company will at all times reserve and keep available, solely for
issuance and delivery on the exercise of the Warrant, shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrant.

            7.         Assignment; Exchange of Warrant.  Subject to compliance with applicable securities laws, this Warrant, and the rights evidenced
hereby, may be transferred by any registered holder hereof (a "Transferor") in whole or in part.  On the surrender for exchange of this Warrant, with the Transferor's endorsement in the form of Exhibit B attached hereto (the "Transferor Endorsement Form") and
together with evidence reasonably satisfactory to the Company demonstrating compliance with applicable securities laws, which shall include, without limitation, the provision of a legal opinion from the Transferor's counsel (at the Company’s expense) that such
transfer is exempt from the registration requirements of

5

applicable securities laws, and with payment by the Transferor of any applicable transfer taxes) will issue and deliver to or on the order of the Transferor thereof a new Warrant of like tenor, in the name of the Transferor
and/or the transferee(s) specified in such Transferor Endorsement Form (each a "Transferee"), calling in the aggregate on the face or faces thereof for the number of shares of Common Stock called for on the face or faces of the Warrant so surrendered by the
Transferor.

            8.         Replacement of Warrant.  On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation
of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation
of this Warrant, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant of like tenor.

            9.         Registration Rights.  The Holder of this Warrant has been granted certain registration rights by the Company.  These registration
rights are set forth in a Registration Rights Agreement entered into by the Company and the Holder dated as of even date of this Warrant.

            10.       Maximum Exercise.  The Holder shall not be entitled to exercise this Warrant on an exercise date, in connection with that number of shares of
Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially owned by the Holder and its affiliates on an exercise date, and (ii) the number of shares of Common Stock issuable upon the exercise of this Warrant with respect
to which the determination of this proviso is being made on an exercise date, which would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock of the Company on such date.  For the purposes
of the proviso to the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder.  Notwithstanding the foregoing, the restriction
described in this paragraph may be revoked upon 75 days prior notice from the Holder to the Company and is automatically null and void upon an Event of Default under either Note, dated the date hereof, made by the Company to the Holder.

            11.       Warrant Agent.  The Company may, by written notice to the each Holder of the Warrant, appoint an agent for the purpose of issuing Common Stock
(or Other Securities) on the exercise of this Warrant pursuant to Section 1, exchanging this Warrant pursuant to Section 7, and replacing this Warrant pursuant to Section 8, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as the
case may be, shall be made at such office by such agent.

            12.       Transfer on the Company's Books.  Until this Warrant is transferred on the books of the Company, the Company may treat the registered holder
hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

            13.       Notices, Etc.  All notices and other communications from the Company to the Holder of this Warrant shall be mailed by first class registered or
certified mail, postage prepaid, at such address as may have been furnished to the Company in writing by such Holder or, until

6

any such Holder furnishes to the Company an address, then to, and at the address of, the last Holder of this Warrant who has so furnished an address to the Company.

            14.       Miscellaneous.  This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination is sought. This Warrant shall be governed by and construed in accordance with the laws of State of New York without regard to principles of conflicts of laws.  Any action brought
concerning the transactions contemplated by this Warrant shall be brought only in the state courts of New York or in the federal courts located in the state of New York; provided, however, that the Holder may choose to waive this provision and bring an action outside
the state of New York.  The individuals executing this Warrant on behalf of the Company agree to submit to the jurisdiction of such courts and waive trial by jury.  The prevailing party shall be entitled to recover from the other party its reasonable
attorney's fees and costs.  In the event that any provision of this Warrant is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law.  Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of this Warrant.  The headings in this Warrant are for
purposes of reference only, and shall not limit or otherwise affect any of the terms hereof.  The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision hereof.  The Company
acknowledges that legal counsel participated in the preparation of this Warrant and, therefore, stipulates that the rule of construction that ambiguities are to be resolved against the drafting party shall not be applied in the interpretation of this Warrant to favor
any party against the other party.

	
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IN WITNESS WHEREOF, the Company has executed this Warrant as of the date first written above.

		
       

	
HOST AMERICA CORPORATION

			
	
WITNESS:

		
			
By:

	
                                                           

			
Name:

	
                                                           

	
                                                           

		
Title:

	
                                                           

8

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