Document:

Exhibit 10.02

        These securities have not been registered with the United States
         Securities and Exchange Commission under the Securities Act of
                1933, as amended (the "Securities Act"), and are
       being offered in reliance on exemptions from registration provided
              in Section 4(2) of the Securities Act and Rule 506 of
               Regulation D promulgated thereunder and preemption
         from the registration or qualification requirements (other than
           notice filing and fee provisions) of applicable state laws
                      under the National Securities Markets
              Improvement Act of 1996 or exemption from such state
                           registration requirements.

                            _________________________

                           CONVERTIBLE PROMISSORY NOTE

                                       OF

                               ARADYME CORPORATION
$[amount]                                                               [date]

         ARADYME CORPORATION, a Delaware corporation (the "Company"), for value
received, hereby promises to pay to Shan Lassig, an accredited individual (the
"Noteholder"), or his assigns, the sum of $[amount], or such or such lesser
amount as has been advanced by Noteholder to the Company pursuant to the
Agreement of even date herewith between Noteholder and the Company, plus
interest accrued on unpaid principal at a rate of fifteen percent (15%) per
annum from the date the funds are received, in accordance with this convertible
promissory note (the "Note"), until the principal amount hereof and all interest
accrued thereon is paid (or converted, as provided in section 2 hereof). The
principal amount of this Note and the interest accrued thereon shall be payable
at the principal offices of the Noteholder or by mail to the registered address
of the Noteholder according to the following schedule: On or before November 15,
2005, the principal amount and accrued interest as of that date shall be due and
payable, or on the earlier to occur of (i) a default under this Note in
accordance with section 8 below, or (ii) the date five days after the date of
any breach by the Company of any agreement with the Noteholder and/or any
affiliate of the Noteholder, unless this Note shall have been previously
converted pursuant to section 2 hereof or as provided otherwise in this Note.

         The following is a statement of the rights of the Noteholder and the
conditions to which this Note is subject and to which the Noteholder hereof, by
the acceptance of this Note, agrees:

         1. Definitions. The following definitions shall apply for all purposes
of this Note:

                  1.1 "Company" shall mean the Company as defined above and
includes any corporation that shall succeed to or assume the obligations of the
Company under this Note.

                  1.2 "Common Stock" shall mean shares of the common stock of
the Company.

                  1.3 "Conversion Date" shall mean the date on which, pursuant
to sections 2 and 3 hereof, the Noteholder exercises its right to convert this
Note into the Common Stock at the Note Conversion Price.

                  1.4 "Note Conversion Price" shall be $0.80 per share.

                  1.5 "Noteholder" or similar term, when the context refers to a
holder of this Note, shall mean any person who shall at the time be the
registered holder of this Note.

<PAGE>

         2. Payment. The Company shall have the right at any time to prepay any
or all of the principal amount or accrued interest on this Note prior to the
maturity date of the Note.

         3. Conversion.

                  3.1 Conversion of Note. Subject to acceptance by the Company,
the Noteholder may convert the principal amount and accrued interest of this
Note into Common Stock at the Note Conversion Price at any time prior to the
Note being paid, provided, however, that this right to convert shall
automatically expire if at any time the Noteholder fails or refuses to advance
funds to the Company within two business days after due request from the Company
as provided in the Securities Purchase Agreement between the Company and the
Noteholder of even date. Conversion under this section 3 shall occur only upon
surrender of this Note for conversion at the principal offices of the Company,
accompanied by written notice of election to convert.

                  3.2 Conversion in the Event of Prepayment or Payment of Note.
At such time that the Company has funds immediately available and elects to pay
all or any portion of the principal amount or accrued interest on the Note
(whether as a prepayment with the consent of Noteholder or payment at or after
maturity of this Note), the Noteholder shall have the option to convert this
Note into Common Stock at the Note Conversion Price on or before 15 days after
the receipt of notice of the Company's election to pay off the Note.

                  3.3 Conversion in the Event of Company Nonpayment of Note. The
Company shall, if it determines in good faith that it is unable to repay the
obligations incurred pursuant to this Note, have the right to convert the
principal amount and accrued interest on the Note into Company Common Stock as
calculated on the average closing price for the Common Stock on the principal
market on which it is traded for the 20 days preceding the due date of the Note.

         4. Issuance of Common Stock. As soon as practicable after conversion of
all or part of this Note, the Company, at its expense, will cause to be issued
in the name of and delivered to the Noteholder, a certificate or certificates
for the number of shares of Common Stock to which the Noteholder shall be
entitled upon such conversion (bearing such legends as may be required by
applicable state and federal securities laws in the opinion of legal counsel of
the Company), together with any other securities and property to which the
Noteholder is entitled upon such conversion under the terms of this Note. Such
conversion shall be deemed to have been made under section 3 above and
immediately prior to the close of business on the date that the Note shall have
been surrendered for conversion, accompanied by written notice of election to
convert, and received by the Company. No fractional shares will be issued upon
conversion of this Note. If upon any conversion of this Note a fraction of a
share would otherwise result, then, in lieu of such fractional share, the
Company will pay the cash value of that fractional share, calculated on the
basis of the applicable Note Conversion Price.

         5. Adjustment of Number of Shares. The number and character of shares
of Common Stock issuable upon conversion of this Note (or any shares of stock or
other securities or property at the time receivable or issuable upon conversion
of this Note) are subject to adjustment upon the occurrence of any of the
following events:

                  5.1 Adjustment for Stock Splits, Stock Dividends,
Recapitalizations, etc. In the event that the Company shall fix a record date
for the determination of holders of securities affected by any stock split,
stock dividend, reclassification, recapitalization, or other similar event that

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<PAGE>

will, in the future, affect the number of outstanding shares of the Company's
capital stock, then, and in each such case, the Noteholder, upon conversion of
this Note at any time after the Company shall fix the record date for such
event, shall receive, in addition to the shares of Common Stock issuable upon
conversion on the Conversion Date, the right to receive the securities of the
Company to which such Noteholder would have been entitled if such Noteholder had
converted this Note immediately prior to such record date (all subject to
further adjustment as provided in this Note).

                  5.2 Adjustment for Dividends and Distributions. In the event
that the Company shall make or issue, or shall fix a record date for the
determination of eligible holders of securities entitled to receive, a dividend
or other distribution payable with respect to the Common Stock (or any shares of
common stock or other securities at the time issuable upon conversion of this
Note) in securities of the Company other than capital stock or any other assets,
then, and in each such case, the Noteholder, upon conversion of this Note at any
time after the consummation, effective date, or record date of such event, shall
receive, in addition to the shares of the Company's Common Stock (or such other
stock or securities) issuable upon such conversion prior to such date, the
securities or such other assets of the Company to which Noteholder would have
been entitled upon such date if Noteholder had converted this Note immediately
prior thereto (all subject to further adjustment as provided in this Note).

                  5.3 Adjustment for Reorganization, Consolidation, Merger. In
the event of any reorganization of the Company (or any other corporation the
stock or other securities of which are at the time receivable upon the
conversion of this Note) after the date of this Note, or in the event, after
such date, the Company (or any such corporation) shall consolidate with or merge
into another corporation or convey all or substantially all of its assets to
another corporation, then, and in each such case, the Noteholder, upon the
conversion of this Note (as provided in section 3) at any time after the
consummation of such reorganization, consolidation, merger, or conveyance, shall
be entitled to receive, in lieu of the stock or other securities and property
receivable upon the conversion of this Note prior to such consummation, the
stock or other securities or property to which such Noteholder would have been
entitled upon the consummation of such reorganization, consolidation, merger, or
conveyance if Noteholder had converted this Note immediately prior thereto, all
subject to further adjustment as provided in this section 5, and the successor
or purchasing corporation in such reorganization, consolidation, merger, or
conveyance (if other than the Company) shall duly execute and deliver to the
Noteholder a supplement hereto acknowledging such corporation's obligations
under this Note. In each such case, the terms of the Note shall be applicable to
the shares of stock or other securities or property receivable upon the
conversion of this Note after the consummation of such reorganization,
consolidation, merger, or conveyance.

                  5.4 Notice of Adjustments. The Company shall promptly give
written notice of each adjustment or readjustment of the number of shares of
Common Stock or other securities issuable upon conversion of this Note, by first
class mail, postage prepaid, to the registered holder of this Note at the
Noteholder's address as shown on the Company's books. The notice shall describe
the adjustment or readjustment and show in reasonable detail the facts on which
the adjustment or readjustment is based.

                  5.5 No Change Necessary. The form of this Note need not be
changed because of any adjustment in the number of shares of Common Stock
issuable upon its conversion.

                  5.6 Reservation of Stock. The Company has taken all necessary
corporate action and obtained all necessary government consents and approvals to
authorize the issuance of this Note and, prior to the conversion hereof, the
shares of Common Stock issuable upon conversion of this Note. If at any time the
number of authorized but unissued shares of Common Stock shall not be sufficient
to effect the conversion of this Note, then the Company will take such corporate

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<PAGE>

action as may, in the opinion of its legal counsel, be necessary to increase its
authorized but unissued shares of common stock as shall be sufficient for such
purpose.

         6. Fully-Paid Shares. All shares of Common Stock issued upon the
conversion of this Note shall be validly issued, fully-paid and nonassessable.

         7. No Rights or Liabilities as a Shareholder. This Note does not by
itself entitle the Noteholder to any voting rights or other rights as a
shareholder of the Company. In the absence of conversion of this Note, no
provisions of this Note and no enumeration herein of the rights or privileges of
the Noteholder shall cause Noteholder to be a shareholder of the Company for any
purpose.

         8. Corporate Action; No Impairment. The Company will not, by amendment
of its articles of incorporation or bylaws, or through reorganization,
consolidation, merger, dissolution, issue or sale of securities, repurchase of
securities, sale of assets, or any other action, avoid or seek to avoid the
observance or performance of any of the terms of this Note, but will at all
times in good faith assist in the carrying out of all such terms and in the
taking of all such action as may be necessary or appropriate, or as reasonably
requested by Noteholder, in order to protect the rights of the Noteholder under
this Note against wrongful impairment.

         9. Default. The Company will be in default if the Company fails to make
any payment when due hereunder. The Company will also be in default if any of
the following occurs and such default is not cured within a 10-day period after
the Noteholder has given the Company written notice of such default:

                  (a) the Company breaches any material obligation to the
         Noteholder hereunder;

                  (b) a receiver is appointed for any part of the Company's
         property, the Company makes an assignment for the benefit of creditors,
         or any proceeding is commenced either by the Company or against the
         Company under any bankruptcy or insolvency laws; or

                  (c) the Company suspends its normal business operations or
         otherwise fails to continue to operate its business in the ordinary
         course.

In the event of a default under this section 9, the only remedy to which
Noteholder shall be entitled shall be to convert the principal and all accrued
interest into Common Stock of the Company at the Note Conversion Price.

         10. Waiver and Amendment. Any provision of this Note may be amended,
waived, modified, discharged, or terminated solely upon the written consent of
both the Company and the Noteholder.

         11. Assignment; Binding upon Successors and Assigns. The Company may
not assign any of its obligations hereunder without the prior written consent of
Noteholder. The terms and conditions of this Note shall inure to the benefit of
and be binding upon the successors and permitted assigns of the parties.

         12. Waiver of Notice; Attorneys' Fees. The Company and all endorsers of
this Note hereby waive notice, demand, notice of nonpayment, presentment,
protest, and notice of dishonor. If any action at law or in equity is necessary
to enforce this Note or to collect payment under this Note, the Noteholder shall
be entitled to recover, as an element of the costs of suit and not as damages,
reasonable attorney's fees, costs, and necessary disbursements in addition to
any other relief to which it may be entitled. Noteholder will be entitled to
recover its costs of suit, regardless of whether such suit proceeds to final
judgment.

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<PAGE>

         13. Construction of Note. The terms of this Note have been negotiated
by the Company, the original Noteholder, and their respective attorneys, and the
language hereof will not be construed for or against either the Company or the
Noteholder. Unless otherwise explicitly set forth, a reference to a section will
mean a section in this Note. The titles and headings herein are for reference
purposes only and will not in any manner limit the construction of this Note,
which will be considered as a whole.

         14. Notices. Any notice, demand, request or other communication
permitted or required under this Note shall be in writing and shall be deemed to
have been given (a) as of the date so delivered if personally served; (b) as of
the date so sent if transmitted by facsimile and receipt is confirmed by the
facsimile operator of the recipient; (c) as of the date of sent if sent by
electronic mail and receipt is acknowledged by the recipient; (d) one day after
the date so sent if delivered by overnight courier service; or (e) three days
after the date so mailed if mailed by certified mail, return receipt requested,
addressed as follows:

         To the Company, as follows:     Aradyme Corporation
                                         Attn. James R. Spencer
                                         677 East 700 South, Suite 201
                                         American Fork, Utah 84003
                                         Telephone:  (801) 756-9585
                                         Facsimile:  (801) 756-9518
                                         E-mail: smayfield@aradyme.com

         To the Noteholder, as follows:  Shan Lassig
                                         6925 South Union Park Center, Suite 445
                                         Midvale,  Utah 84047
                                         Telephone:  (801) 233-1433
                                         Facsimile:  (801) 233-0627
                                         E-mail: _______________

or such other addresses, facsimile numbers, or electronic mail address as shall
be furnished in writing by any party in the manner for giving notices hereunder.

         15. Governing Law. This Note shall be governed by and construed under
the internal laws of the United States and the state of Utah as applied to
agreements among Utah residents entered into and to be performed entirely within
Utah, without reference to principles of conflict of laws or choice of laws.

         IN WITNESS WHEREOF, the Company has caused this Note to be signed in
its name as of the date first above written.

                                             ARADYME CORPORATION

                                             By
                                               ---------------------------------
                                               Merwin Rasmussen, Vice Chairman &
                                               Corporate Secretary

                                       5To subscribe for Units in the private offering of
                                 SIRICOMM, INC.

1.       Date and Fill in the number of Units being subscribed for and Complete
         and Sign the Omnibus Signature Page included in the Subscription
         Agreement.

2.       Initial the Accredited Investor Certification page attached to this
         letter.

3.       Complete and Return the Confidential Investor Profile and, if
         applicable, Wire Transfer Authorization attached to this letter.

4.       Fax all forms to Mr. Glen McKelvey at (212) 697-8035 and then send all
         signed original documents with a check (if applicable) to:

              Mr. Glen McKelvey
              Sands Brothers International Limited
              90 Park Avenue, 39th Floor
              New York, NY 10016

5.       Please make your subscription payment payable to the order of
         "Signature Bank, Escrow Agent for SIRICOMM, INC."

For wiring funds directly to the escrow account,
see the following instructions;

                         Signature Bank
                         Acct. Name:        Signature Bank as Escrow Agent for
                                            SiriCOMM, Inc.
                         ABA Number:        __________________
                         A/C Number:        __________________
                         FBO:               Investor Name
                                            Social Security Number
                                            Address

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<PAGE>

         Investors will purchase the number of units (the "Units") set forth on
the signature page to the Subscription Agreement at a purchase price of $100,000
per Unit. Each Unit consists of: (i) 50,000 shares (the "Shares") of common
stock of the Company, $0.001 par value per share (the "Common Stock"), and (ii)
a warrant (the "Company Warrants") to purchase 37,500 shares of Common Stock at
an exercise price equal to the closing bid price of the Common Stock on the last
trading day preceding the closing of the sale of the Units purchased, as
reported on the NASD Over-the-Counter Bulletin Board (the "Closing Price"). The
subscription for the Units will be made in accordance with and subject to the
terms and conditions of the Subscription Agreement, the Company's Confidential
Investment Proposal dated October 11, 2004 (the "Memorandum"), and Amendment No.
1 dated December 20, 2004 to the Memorandum.

         Sands Brothers International Limited ("SBIL") is acting as
non-exclusive placement agent to the Company in connection with the sale of the
Units on a "reasonable efforts" basis. The minimum amount (the "Minimum Amount")
of Units that may be sold is six (6) Units ($600,000) and the maximum amount
(the "Maximum Amount") is ten (10) Units ($1,000,000).

         All subscription funds will be held in a non-interest bearing escrow
account in the Company's name at Signature Bank, 261 Madison Avenue, New York,
New York 10016, or with such other escrow agent as may be appointed by SBIL and
the Company. In the event that the Company does not succeed in receiving and
accepting subscriptions for at least $600,000 (the "Minimum Amount") on or
before December 31, 2004, at the discretion of SBIL and the Company, the Company
will refund all subscription funds, without deduction and/or interest accrued
thereon, and will return the subscription documents to each subscriber.
Officers, Directors and affiliates of the Company and the Placement Agent may
purchase Units in the Offering and all such purchases shall count towards the
Minimum Amount and the Maximum Amount, including, but not limited to, purchases
to effectuate a closing on the Minimum Amount. If the Company rejects a
subscription, either in whole or in part (which decision is in the sole
discretion of the Company), the rejected subscription funds or the rejected
portion thereof will be returned promptly to such subscriber without interest
accrued thereon. The minimum subscription per investor in the Offering is
$100,000, provided, however, that SBIL and the Company, in their sole
discretion, may waive such minimum subscription requirement from time to time.

         Questions regarding completion of the subscription documents should be
directed to Mr. Glen McKelvey (800) 866-6116. ALL SUBSCRIPTION DOCUMENTS MUST BE
FILLED IN AND SIGNED EXACTLY AS SET FORTH WITHIN.

                                       ii
<PAGE>

                             SUBSCRIPTION AGREEMENT
                               FOR SIRICOMM, INC.

SiriCOMM, Inc.
2900 David Boulevard (Suite 130)
Joplin, MO 64809

Ladies and Gentlemen:

         1. Subscription. The undersigned (the "Purchaser"), intending to be
legally bound, hereby irrevocably agrees to purchase a unit or units (each, a
"Unit" and collectively, the "Units") from SiriCOMM, Inc. (the "Company") at a
purchase price of $100,000 per Unit. Each Unit consists of: (i) 50,000 shares
(the "Shares") of common stock of the Company, $0.001 par value per share (the
"Common Stock"), and (ii) a warrant (the "Company Warrants") to purchase 37,500
shares of Common Stock (the "Company Warrant Shares"), at an exercise price
equal to the closing bid price of the Common Stock on the last trading day
immediately proceeding each closing with respect to the Units sold as reported
on the NASD Over-the-Counter Bulletin Board (the "Closing Price"). The
subscription for the Units will be made in accordance with and subject to the
terms and conditions of the Subscription Agreement, the Company's Confidential
Investment Proposal dated October 11, 2004 (the "Memorandum"), and Amendment No.
1 dated December 20, 2004, to the Memorandum (the "Amendment").

         This subscription is submitted to you in accordance with and subject to
the terms and conditions described in this Subscription Agreement, including all
documents incorporated by reference therein and all attachments, schedules and
exhibits thereto and the Amendment (collectively, the "Memorandum"), relating to
the offering by the Company of a minimum of 6 Units ($600,000) (the "Minimum
Amount") and a maximum of 10 Units ($1,000,000) (the "Offering").

         Officers, Directors and Affiliates of the Company and the Placement
Agent may purchase Units in the Offering and such purchases shall be counted
toward the Minimum Amount and Maximum Amount including, but not limited to,
purchases to effectuate a closing on the Minimum Amount.

         The terms of the Offering are more completely described in the
Memorandum and such terms are incorporated herein in their entirety. Certain
capitalized terms used, but not otherwise defined herein, will have the
respective meanings provided in the Memorandum.

         2. Payment. The Purchaser encloses herewith a check payable to, or will
immediately make a wire transfer payment to, "Signature Bank, Escrow Agent for
SiriCOMM, Inc.," in the full amount of the purchase price of the Units being
subscribed for. Together with the check for, or wire transfer of, the full
purchase price, the

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<PAGE>

Purchaser is delivering a completed and executed Omnibus Signature Page to this
Subscription Agreement and the Registration Rights Agreement.

         3. Deposit of Funds. All payments made as provided in Section 2 hereof
will be deposited by the Company as soon as practicable with Signature Bank, as
escrow agent (the "Escrow Agent") or such other escrow agent appointed by SBIL
and the Company, in a non-interest bearing escrow account (the "Escrow
Account"). In the event mat the Company does not succeed in receiving and
accepting subscriptions for the Minimum Amount on or before December 31, 2004 at
the discretion of SBIL and the Company, the Company will refund all of the
Purchaser's subscription funds, without interest accrued thereon or deduction
therefrom, and will return the subscription documents to the Purchaser. If the
Company rejects a Purchaser's subscription, either in whole or in part (which
decision is in the sole discretion of the Company), the rejected subscription
funds or the rejected portion thereof will be returned promptly to the Purchaser
without interest accrued thereon or deduction therefrom. The minimum
subscription for a Purchaser in the Offering is one (1) Unit ($100,000);
provided, however, that SBIL and the Company, in their sole discretion, may
waive such minimum subscription requirement from time to time.

         4. Acceptance of Subscription. The Purchaser understands and agrees
that the Company, in its sole discretion, reserves the right to accept or reject
this or any other subscription for the Units, in whole or in part,
notwithstanding prior receipt by the Purchaser of notice of acceptance of this
or any other subscription. The Company will have no obligation hereunder until
the Company executes and delivers to the Purchaser an executed copy of this
Subscription Agreement. If Purchaser's subscription is rejected in whole, or the
Offering is terminated or the Minimum Amount is not subscribed for and accepted,
all funds received from the Purchaser will be returned without interest,
penalty, expense or deduction, and this Subscription Agreement will thereafter
be of no further force or effect. If Purchaser's subscription is rejected in
part, the funds for the rejected portion of such subscription will be returned
without interest, penalty, expense or deduction, and this Subscription Agreement
will continue in full force and effect to the extent such subscription was
accepted.

         5. Representations and Warranties of the Purchaser. The Purchaser
hereby acknowledges, represents, warrants, and agrees as follows:

                  (a) Neither the Units, the Shares, the Company Warrants, nor
the Company Warrant Shares (collectively, the "Securities") are registered under
the Securities Act of 1933, as amended (the "Securities Act"), or any state
securities laws. The Purchaser understands that the offering and sale of the
Units is intended to be exempt from registration under the Securities Act, by
virtue of Section 4(2) thereof and the provisions of Regulation D promulgated
thereunder, based, in part, upon the representations, warranties and agreements
of the Purchaser contained in this Subscription Agreement;

                  (b) The Purchaser and the Purchaser's attorney, accountant,
purchaser representative and/or tax advisor, if any (collectively, "Advisors"),
have received the Memorandum and all other documents requested by the Purchaser
or its Advisors, if any, (a)

                                       2
<PAGE>

have carefully reviewed them and understand the information contained therein,
prior to the execution of this Subscription Agreement;

                  (c) Neither the Securities and Exchange Commission (the
"Commission") nor any state securities commission has approved the Units or any
of the other Securities, or passed upon or endorsed the merits of the Offering
or confirmed the accuracy or determined the adequacy of the Memorandum. The
Memorandum has not been reviewed by any Federal, state or other regulatory
authority;

                  (d) All documents, records, and books pertaining to the
investment in the Units (including, without limitation, the Memorandum) have
been made available for inspection by the Purchaser and its Advisors, if any;

                  (e) The Purchaser and its Advisors, if any, have had a
reasonable opportunity to ask questions of and receive answers from a person or
persons acting on behalf of the Company concerning the offering of the Units and
the business, financial condition, results of operations and prospects of the
Company, and all such questions have been answered by the Company in writing to
the full satisfaction of the Purchaser and its Advisors, if any;

                  (f) In evaluating the suitability of an investment in the
Company, the Purchaser has not relied upon any representation or other
information (oral or written) other than as stated in the Memorandum or as
contained in documents so furnished to the Purchaser or its Advisors, if any, by
the Company in writing;

                  (g) The Purchaser is unaware of, is in no way relying on, and
did not become aware of the offering of the Units through or as a result of, any
form of general solicitation or general advertising including, without
limitation, any article, notice, advertisement or other communication published
in any newspaper, magazine or similar media or broadcast over television, radio
or over the Internet, in connection with the offering and sale of the Units and
is not subscribing for Units and did not become aware of the offering of the
Units through or as a result of any seminar or meeting to which the Purchaser
was invited by, or any solicitation of a subscription by, a person not
previously known to the Purchaser in connection with investments in securities
generally;

                  (h) The Purchaser has taken no action which would give rise to
any claim by any person for brokerage commissions, finders' fees or the like
relating to this Subscription Agreement or the transactions contemplated hereby
(other than commissions to be paid by the Company to SBIL as described in the
Memorandum or as otherwise described in the Memorandum);

                  (i) The Purchaser, either alone or together with its Advisors,
if any, have such knowledge and experience in financial, tax, and business
matters, and, in particular, investments in securities, so as to enable them to
utilize the information made available to them in connection with the offering
of the Units to evaluate the merits and risks of an investment in the Units and
the Company and to make an informed investment decision with respect thereto;

                                        3
<PAGE>

                  (j) The Purchaser is not relying on the Company, SBIL or any
of their respective employees or agents with respect to the legal, tax, economic
and related considerations of an investment in the Units, and the Purchaser has
relied on the advice of, or has consulted with, only its own Advisors;

                  (k) The Purchaser is acquiring the Units solely for such
Purchaser's own account for investment and not with a view to resale or
distribution thereof, in whole or in part. The Purchaser has no agreement or
arrangement, formal or informal, with any person to sell or transfer all or any
part of the Units, the Shares or the Company Warrant Shares and the Purchaser
has no plans to enter into any such agreement or arrangement;

                  (1) The purchase of the Units represents high risk capital and
the Purchaser is able to afford an investment in a speculative venture having
the risks and objectives of the Company. The Purchaser must bear the substantial
economic risks of the investment in the Units indefinitely because none of the
securities included in the Units may be sold, hypothecated or otherwise disposed
of unless subsequently registered under the Securities Act and applicable state
securities laws or an exemption from such registration is available. Legends
will be placed on the securities included in the Units to the effect that they
have not been registered under the Securities Act or applicable state securities
laws and appropriate notations thereof will be made in the Company's stock
books. Stop transfer instructions will be placed with the transfer agent of the
securities constituting the Units. The Company has agreed that purchasers of the
Units will have, with respect to the Shares and the Company Warrant Shares, the
registration rights described in the Registration Rights Agreement in the form
annexed to the Memorandum. Notwithstanding such registration rights, it is not
anticipated that there will be any market for resale of the Units, the Shares,
or the Warrant Shares, and such securities will not be freely transferable at
any time in the foreseeable future;

                  (m) The Purchaser has adequate means of providing for such
Purchaser's current financial needs and foreseeable contingencies and has no
need for liquidity of the investment in the Units for an indefinite period of
time;

                  (n) The Purchaser is aware that an investment in the Units
involves a number of very significant risks and has carefully read and
considered the matters set forth in the Memorandum and, in particular, the
matters under the caption "Risk Factors" therein and any of such risk may
materially adversely affect the Company's results of operations and future
prospects;

                  (o) The Purchaser is an "accredited investor" as that term is
defined in Regulation D under the Securities Act, and has truthfully and
accurately completed the Accredited Investor Certification contained herein;

                  (p) The Purchaser: (i) if a natural person, represents that
the Purchaser has reached the age of 21 and has full power and authority to
execute and deliver this Subscription Agreement and all other related agreements
or certificates and to carry out the provisions hereof and thereof; (ii) if a
corporation, partnership, or limited liability company or partnership, or
association, joint stock company, trust, unincorporated organization or other
entity, represents that such entity was not formed for the specific

<PAGE>

purpose of acquiring the Units, such entity is duly organized, validly existing
and in good standing under the laws of the state of its organization, the
consummation of the transactions contemplated hereby is authorized by, and will
not result in a violation of state law or its charter or other organizational
documents, such entity has full power and authority to execute and deliver this
Subscription Agreement and all other related agreements or certificates and to
carry out the provisions hereof and thereof and to purchase and hold the
securities constituting the Units, the execution and delivery of this
Subscription Agreement has been duly authorized by all necessary action, this
Subscription Agreement has been duly executed and delivered on behalf of such
entity and is a legal, valid and binding obligation of such entity; or (iii) if
executing this Subscription Agreement in a representative or fiduciary capacity,
represents that it has full power and authority to execute and deliver this
Subscription Agreement in such capacity and on behalf of the subscribing
individual, ward, partnership, trust, estate, corporation, or limited liability
company or partnership, or other entity for whom the Purchaser is executing this
Subscription Agreement, and such individual, partnership, ward, trust, estate,
corporation, or limited liability company or partnership, or other entity has
full right and power to perform pursuant to this Subscription Agreement and make
an investment in the Company, and represents that this Subscription Agreement
constitutes a legal, valid and binding obligation of such entity. The execution
and delivery of this Subscription Agreement will not violate or be in conflict
with any order, judgment, injunction, agreement or controlling document to which
the Purchaser is a party or by which it is bound;

                  (q) The Purchaser and its Advisors, if any, have had the
opportunity to obtain any additional information, to the extent the Company had
such information in their possession or could acquire it without unreasonable
effort or expense, necessary to verify the accuracy of the information contained
in the Memorandum and all documents received or reviewed in connection with the
purchase of the Units and have had the opportunity to have representatives of
the Company provide them with such additional information regarding the terms
and conditions of this particular investment and the financial condition,
results of operations, business and prospects of the Company deemed relevant by
the Purchaser or its Advisors, if any, and all such requested information, to
the extent the Company had such information in its possession or could acquire
it without unreasonable effort or expense, has been provided by the Company in
writing to the full satisfaction of the Purchaser and its Advisors, if any;

                  (r) The Purchaser represents to the Company that any
information which the undersigned has heretofore furnished or is furnishing
herewith to the Company or SBIL is complete and accurate and may be relied upon
by the Company in determining the availability of an exemption from registration
under Federal and state securities laws in connection with the offering of
securities as described in the Memorandum. The Purchaser further represents and
warrants that it will notify and supply corrective information to the Company
and SBIL immediately upon the occurrence of any change therein occurring prior
to the Company's issuance of the securities contained in the Units;

                  (s) The Purchaser has significant prior investment experience,
including investment in non-listed and non-registered securities. The Purchaser
is knowledgeable about investment considerations in public companies and, in
particular,

                                       5
<PAGE>

public companies traded on the NASD's Over the Counter Bulletin Board System.
The Purchaser has a sufficient net worth to sustain a loss of its entire
investment in the Company in the event such a loss should occur. The Purchaser's
overall commitment to investments which are not readily marketable is not
excessive in view of the Purchaser's net worth and financial circumstances and
the purchase of the Units will not cause such commitment to become excessive.
This investment is a suitable one for the Purchaser;

                  (t) The Purchaser is satisfied that it has received adequate
information with respect to all matters which it or its Advisors, if any,
consider material to its decision to make this investment;

                  (u) The Purchaser acknowledges that any estimates or
forward-looking statements or projections included in the Memorandum were
prepared by the Company in good faith, but that the attainment of any such
projections, estimates or forward-looking statements cannot be guaranteed, will
not be updated by the Company and should not be relied upon;

                  (v) No oral or written representations have been made, or oral
or written information furnished by the Company, to the Purchaser or its
Advisors, if any, in connection with the offering of the Units which are in any
way inconsistent with the information contained in the Memorandum;

                  (w) Within five (5) days after receipt of a request from the
Company or SBIL, the Purchaser will provide such information and deliver such
documents as may reasonably be necessary to comply with any and all laws and
ordinances to which the Company or SBIL is subject;

                  (x) The Purchaser's substantive relationship with SBIL or
subagent through which the Purchaser is subscribing for Units predates SBIL's or
such subagent's contact with the Purchaser regarding an investment in the Units;

                  (y) THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF CERTAIN STATES AND ARE BEING
OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF
SAID ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON
TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY,
NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF
THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE MEMORANDUM. ANY REPRESENTATION
TO THE CONTRARY IS UNLAWFUL;

                  (z) The Purchaser acknowledges that neither the Units, nor any
of the other Securities, have been recommended by any Federal or state
securities commission

                                       6
<PAGE>

or regulatory authority. In making an investment decision, investors must rely
on their own examination of the Company and the terms of the Offering, including
the merits and risks involved. Furthermore, the foregoing authorities have not
confirmed the accuracy or determined the adequacy of this Subscription
Agreement. Any representation to the contrary is a criminal offense. The Units
and the other Securities are subject to restrictions on transferability and
resale and may not be transferred or resold except as permitted under the
Securities Act, and the applicable state securities laws, pursuant to
registration or exemption therefrom. Investors should be aware that they will be
required to bear the financial risks of this investment for an indefinite period
of time; and

                  (aa) (For ERISA plans only) The fiduciary of the ERISA plan
(the "Plan") represents that such fiduciary has been informed of and understands
the Company's investment objectives, policies and strategies, and that the
decision to invest "plan assets" (as such term is defined in ERISA) in the
Company is consistent with the provisions of ERISA that require diversification
of plan assets and impose other fiduciary responsibilities. The Purchaser or
Plan fiduciary (a) is responsible for the decision to invest in the Company; (b)
is independent of the Company and any of its affiliates; (c) is qualified to
make such investment decision; and (d) in making such decision, the Purchaser or
Plan fiduciary has not relied on any advice or recommendation of the Company or
any of its affiliates.

                  (bb) The Purchaser hereby represents, warrants, agrees and
covenants to and with the Company that the Subscriber has not, directly and/or
indirectly, previously had and/or maintained and/or currently has, and/or in the
future will not make or maintain a "short" position in the Company's securities
and will not encourage and/or facilitate the same by any third party.

         6. Representations and Warranties of the Company. The Company hereby
acknowledges, represents, warrants, and agrees as follows:

                  (a) Other than as disclosed in SEC Reports (as defined in
Section 6(h) below), the Company does not own or control, directly or
indirectly, any interest in any other corporation, association or other business
entity (a "Subsidiary" and collectively, the "Subsidiaries"). The Company owns,
directly or indirectly, all of the capital stock of each Subsidiary free and
clear of any material lien, charge, security interest, encumbrance, right of
first refusal or other restriction (collectively, "Liens"), and all the issued
and outstanding shares of capital stock of each Subsidiary are validly issued
and are fully paid, non-assessable and free of preemptive and similar rights.

                  (b) Each of the Company and the Subsidiaries is an entity duly
incorporated or otherwise organized, validly existing and in good standing under
the laws of the jurisdiction of its incorporation or organization (as
applicable), with the requisite corporate power and authority to own and use its
properties and assets and to carry on its business as currently conducted.
Neither the Company nor any Subsidiary is in violation of any of the provisions
of its respective certificate or articles of incorporation, by-laws or other
organizational or charter documents. Each of the Company and the Subsidiaries is
duly qualified to conduct business and is in good standing as a foreign
corporation or other entity in each jurisdiction in which the nature of the
business conducted or property (a)

<PAGE>

owned by it makes such qualification necessary, except where the failure to be
so qualified or in good standing, as the case may be, would not result in (i) a
material adverse effect on the legality, validity or enforceability of the
Company Warrants, this Subscription Agreement, the Registration Rights Agreement
(collectively, with the Memorandum and the Amendment, the "Transaction
Documents"), (ii) a material adverse effect on the results of operations,
assets, business or financial condition of the Company and the Subsidiaries,
taken as a whole, or (iii) a material adverse effect on the Company's ability to
perform in any material respect on a timely basis its obligations under any
Transaction Document (any of (i), (ii) or (iii), a "Material Adverse Effect").

                  (c) The Company has the requisite corporate power and
authority to enter into and to consummate the transactions contemplated by each
of the Transaction Documents and otherwise to carry out its obligations
thereunder. The execution and delivery of each of the Transaction Documents by
the Company and the consummation by it of the transactions contemplated thereby
have been duly authorized by all necessary action on the part of the Company and
no further corporate action is required by the Company in connection therewith.
Each Transaction Document has been (or upon delivery will have been) duly
executed by the Company and, when delivered in accordance with the terms hereof,
will constitute the valid and binding obligation of the Company enforceable
against the Company in accordance with its terms except as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors' rights generally.

                  (d) The execution, delivery and performance of the Transaction
Documents by the Company and the consummation by the Company of the transactions
contemplated thereby, do not and will not (i) conflict with or violate any
provision of the Company's Amended and Restated Certificate of Incorporation or
by-laws and any and all amendments thereto (collectively, the "Internal
Documents"), (ii) conflict with, or constitute a default (or an event that with
notice or lapse of time or both would become a default) under, or give to others
any rights of termination, amendment, acceleration or cancellation (with or
without notice, lapse of time or both) of, any material agreement, credit
facility, debt or other instrument (evidencing a Company or Subsidiary debt or
otherwise), or other understanding to which the Company or any Subsidiary is a
party or by which any property or asset of the Company or any Subsidiary is
bound or affected, or (iii) result in a violation of any law, rule, regulation,
order, judgment, injunction, decree or other restriction of any court or
governmental authority to which the Company or a Subsidiary is subject
(including federal and state securities laws and regulations), or by which any
property or asset of the Company or a Subsidiary is bound or affected. (c)

<PAGE>

                  (e) The Company is not required to obtain any consent, waiver,
authorization or order of, give any notice to, or make any filing or
registration with, any court or other federal, state, local or other
governmental authority or other an individual or corporation, partnership,
trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision
thereof) or other entity of any kind (a "Person") in connection with the
execution, delivery and performance by the Company of the Transaction Documents,
other than the filing with the Commission of the Registration Statement (as
defined in the Registration Rights Agreement) and applicable Blue Sky filings.

                  (f) All of the Units, the Shares, the Company Warrants and the
Company Warrant Shares have been duly authorized and, when issued and paid for
in accordance with the Transaction Documents, will be duly and validly issued,
fully paid and nonassessable, free and clear of all Liens and not subject to any
preemptive rights. The Company has reserved from its duly authorized capital
stock such number of shares of Common Stock so as to permit the issuance of the
Shares, the Company Warrant Shares and the Management Performance Shares.

                  (g) Other than as disclosed in the Memorandum and/or any of
the SEC Reports (as defined below) (i) there are no outstanding securities of
the Company or any of its Subsidiaries which contain any preemptive, redemption
or similar provisions, nor is any holder of securities of the Company or any
Subsidiary entitled to preemptive or similar rights arising out of any agreement
or understanding with the Company or any Subsidiary by virtue of any of the
Transaction Documents, and there are no contracts, commitments, understandings
or arrangements by which the Company or any of its Subsidiaries is or may become
bound to redeem a security of the Company or any of its Subsidiaries; (ii) the
Company does not have any stock appreciation rights or "phantom stock" plans or
agreements or any similar plan or agreement; and (iii) there are no outstanding
options, warrants, script rights to subscribe to, calls or commitments of any
character whatsoever relating to, or securities, except as a result of the
purchase and sale of the Securities, or rights or obligations convertible into
or exchangeable for, or giving any Person any right to subscribe for or acquire,
any shares of Common Stock, or contracts, commitments, understandings, or
arrangements by which the Company or any Subsidiary is or may become bound to
issue additional shares of Common Stock, or securities or rights convertible or
exchangeable into shares of Common Stock.

                  (h) The Company has filed all reports required to be filed by
it under the Securities Act and the Securities Exchange Act of 1934, as amended
(the "1934 Act"), including pursuant to Section 13(a) or Section 15(d) of the
1934 Act (the foregoing materials, including the exhibits thereto, being
collectively referred to herein as the "SEC Reports"). As of their respective
dates, except to the extent set forth in the SEC Reports with respect to
restatements of the Company's financial statements, the SEC Reports complied in
all material respects with the requirements of the Securities Act and the 1934
Act and the rules and regulations of the Commission promulgated thereunder, as
applicable, and none of the SEC Reports, when filed, contained any untrue
statement of a material fact or omitted to state a material fact required to be
stated therein or necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading. All material
agreements to which the Company is a party or

                                        9
<PAGE>

to which the property or assets of the Company are subject have been filed as
exhibits to the SEC Reports to the extent required. The financial statements of
the Company included in the SEC Reports comply in all material respects with
applicable accounting requirements and the rules and regulations of the
Commission with respect thereto as in effect at the time of filing, except to
the extent set forth in the SEC Reports with respect to restatements of the
Company's financial statements. Such financial statements have been prepared in
accordance with generally accepted accounting principles applied on a consistent
basis during the periods involved ("GAAP"), except to the extent set forth in
the SEC Reports with respect to restatements of the Company's financial
statements, and except as may be otherwise specified in such financial
statements or the notes thereto and except that unaudited financial statements
may not contain all footnotes required by GAAP, and fairly present in all
material respects the financial position of the Company and its consolidated
subsidiaries as of and for the dates thereof and the results of operations and
cash flows for the periods then ended, subject, in the case of unaudited
statements, to normal, immaterial, year-end audit adjustments. Additionally,
since the adoption of the Sarbanes-Oxley Act of 2002 (the "New Act") and to the
extent that the Company is subject to the New Act, the Company has complied in
all material respects with the laws, rules and regulation under the New Act.

                  (i) Since September 30, 2004, other than as may be filed on a
Current Report on Form 8-K filed by the Company with the Commission or any SEC
Report (i) there has been no event, occurrence or development that has had or
that could reasonably be expected to result in a Material Adverse Effect, (ii)
the Company has not incurred any material liabilities (contingent or otherwise)
other than (A) trade payables and accrued expenses incurred in the ordinary
course of business consistent with past practice and (B) liabilities not
required to be reflected in the Company's financial statements pursuant to GAAP
or required to be disclosed in filings made with the Commission, (iii) the
Company has not altered its method of accounting or the identity of its
auditors, (iv) the Company has not declared or made payment or distribution of
any dividend or distribution of cash or other property to its holders of Common
Stock or purchased, redeemed or made any agreements to purchase or redeem any
shares of its capital stock and (v) the Company has not issued any equity
securities to any officer, director or Affiliate, except pursuant to existing
Company stock option plans.

                  (j) There is no action, suit, inquiry, notice of violation,
proceeding or investigation pending or, to the knowledge of the Company,
currently threatened against or affecting the Company, any Subsidiary or any of
their respective properties before or by any court, arbitrator, governmental or
administrative agency and/or regulatory authority (federal, state, county, local
or foreign), (collectively, an "Action") which does and/or could (i) adversely
affects or challenges the legality, validity or enforceability of any of the
Transaction Documents and/or the Securities or to consummate the transactions
contemplated hereby or thereby or (ii) could, if there were an unfavorable
decision, have or reasonably be expected to result in, either individually or in
the aggregate, a Material Adverse Effect. The SEC has not issued any stop order
or other order suspending the effectiveness of any registration statement filed
by the Company or any Subsidiary under the 1934 Act or the Securities Act. The
foregoing includes, without limitation, actions, pending or threatened (or any
basis therefor known to the Company), involving the prior employment of any of
the Company's employees, their use in

                                       10
<PAGE>

connection with the Company's business of any information or techniques
allegedly proprietary to any of their former employers, or their obligations
under any agreements with prior employers. The Company is not a party or subject
to the provisions of any order, writ, injunction, judgment, or decree of any
court or government agency or instrumentality.

                  (k) No material labor dispute exists or, to the knowledge of
the Company, is imminent with respect to any of the employees of the Company
which could reasonably be expected to result in a Material Adverse Effect.

                  (1) Neither the Company nor any Subsidiary (i) is in default
under or in violation of (and no event has occurred that has not been waived
that, with notice or lapse of time or both, would result in a default by the
Company or any Subsidiary under), nor has the Company or any Subsidiary received
notice of a claim that it is in default under or that it is in violation of, any
indenture, mortgage, decree, lease, license, loan or credit agreement or any
other agreement or instrument to which it is a party or by which it or any of
its properties is bound (whether or not such default or violation has been
waived), (ii) is in violation of any order of any court, arbitrator or
governmental body, or (iii) is or has been in violation of any statute, rule or
regulation of any governmental authority, including without limitation all
foreign, federal, state and local laws applicable to its business, except in the
case of clauses (i), (ii) and (iii) as would not result in a Material Adverse
Effect. Neither the Company nor any of the Subsidiaries has received any written
notice of any violation of or noncompliance with, any federal, state, local or
foreign laws, ordinances, regulations and orders (including, without limitation,
those relating to environmental protection, occupational safety and health,
federal securities laws, equal employment opportunity, consumer protection,
credit reporting, "truth-in-lending", and warranties and trade practices)
applicable to its business or to the business of any Subsidiary, the violation
of, or noncompliance with, which would have a materially adverse effect on
either the Company's business or operations, or that of any Subsidiary, and the
Company knows of no facts or set of circumstances which would give rise to such
a notice. The execution, delivery, and performance of the Transaction Documents
and the consummation of the transactions contemplated thereby will not result in
any such violation or be in conflict with or constitute, with or without the
passage of time and giving of notice, either a default under any such provision,
instrument, judgment, order, writ, decree or contract, or an event which results
in the creation of any lien, charge, or encumbrance upon any assets of the
Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of
any material permit, license, authorization, or approval applicable to the
Company, its business or operations, or any of its assets or properties, except
as would not reasonably be expected to have a Material Adverse Effect.

                  (m) The Company and the Subsidiaries possess all licenses,
certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their
respective businesses, except where the failure to possess such permits would
not have or reasonably be expected to result in a Material Adverse Effect
("Material Permits"), and believes it can obtain, without undue burden or
expense, any similar authority for the conduct of its business as planned to be

                                       11
<PAGE>

conducted, and neither the Company nor any Subsidiary has received any notice of
proceedings relating to the revocation or modification of any Material Permit.

                  (n) Other than as disclosed in the SEC Reports, the Company
owns its property and assets free and clear of all mortgages, liens, loans,
pledges, security interests, claims, equitable interests, charges, and
encumbrances, except such encumbrances and liens which arise in the ordinary
course of business and do not materially impair the Company's ownership or use
of such property or assets. With respect to the property and assets it leases,
the Company is in compliance in all material respects with such leases and, to
its knowledge, holds a valid leasehold interest free of any liens, claims, or
encumbrances.

                  (o) The Company and its Subsidiaries own, or possess adequate
rights or licenses to use all trademarks, trade names, service marks, service
mark registrations, service names, patents, patent rights, copyrights,
inventions, licenses, approvals, governmental authorizations, trade secrets and
rights necessary to conduct their respective businesses as now conducted, the
lack of which could reasonably be expected to have a Material Adverse Effect.
The Company and its Subsidiaries do not have any knowledge of any infringement
by the Company or its Subsidiaries of trademarks, trade name rights, patents,
patent rights, copyrights, inventions, licenses, service names, service marks,
service mark registrations, trade secrets or other similar rights of others, or
of any such development of similar or identical trade secrets or technical
information by others and no claim, action or proceeding has been made or
brought against, or to the Company's knowledge, has been threatened against, the
Company or its Subsidiaries regarding trademarks, trade name rights, patents,
patent rights, inventions, copyrights, licenses, service names, service marks,
service mark registrations, trade secrets or other infringement, except where
such infringement, claim, action or proceeding would not reasonably be expected
to have either individually or in the aggregate a Material Adverse Effect. The
Company is not aware that any of its employees, officers, or consultants are
obligated under any contract (including licenses, covenants, or commitments of
any nature) or other agreement, or subject to any judgment, decree, or order of
any court or administrative agency, that would interfere with the use of such
employee's, officer's, or consultant's commercially reasonable efforts to
promote the interests of the Company or that would conflict with the Company's
business as conducted. Neither the execution nor delivery of the Transaction
Documents, nor the carrying on of the Company's business by the employees of the
Company, as is presently conducted, nor the conduct of the Company's business,
will, to the Company's knowledge, conflict with or result in a breach of the
terms, conditions, or provisions of, or constitute a default under, any
contract, covenant, or instrument under which any of such employees, officers or
consultants are now obligated.

                  (p) The Company has not entered into agreement to pay any
brokerage or finder's fees or commissions to any person including, but not
limited to, any broker, financial advisor or consultant, finder, placement
agent, investment banker, bank or other Person with respect to the transactions
contemplated by this Agreement, other than with the SBIL.

                                       12
<PAGE>

                  (q) Assuming the accuracy of the Purchaser's representations
and warranties set forth in this Subscription Agreement, no registration under
the Securities Act is required for the offer and sale of the securities by the
Company to the Purchaser as contemplated hereby.

                  (r) The Company is not, and is not an affiliate of, an
"investment company" within the meaning of the Investment Company Act of 1940,
as amended.

                  (s) Neither the Company, its Subsidiaries, any of their
affiliates nor any person acting on their behalf, has engaged in any form of
general solicitation or general advertising (within the meaning of Regulation D
under the Securities Act) in connection with the offer or sale of the Units.

                  (t) Other than as discussed in any SEC Report, neither the
Company, its Subsidiaries, any of their affiliates nor any person acting on
their behalf has, directly or indirectly, made any offers or sales of any
security or solicited any offers to buy any security, under circumstances that
would require registration of any of the Securities under the Securities Act or
cause the Offering to be integrated with prior offerings by the Company for
purposes of the Securities Act or any applicable stockholder approval
provisions, including without limitation, under the rules and regulations of any
exchange or automated quotation system on which any of the securities of the
Company are listed or designated. None of the Company, its Subsidiaries, their
affiliates and any person acting on their behalf will take any action or steps
referred to in the preceding sentence that would require registration of any of
the Securities under the Securities Act or cause the Offering to be integrated
with other offerings.

                  (t) The Company and each of its Subsidiaries has made or filed
all federal and state income and all other tax returns, reports and declarations
required by any jurisdiction to which it is subject, except when the failure to
do so would not have a Material Adverse Effect, and has paid all taxes and other
governmental assessments and charges that are material in amount, shown or
determined to be due on such returns, reports and declarations otherwise due and
payable, except those being contested in good faith and has set aside on its
books reserves in accordance with GAAP reasonably adequate for the payment of
all taxes for periods subsequent to the periods to which such returns, reports
or declarations apply. There are no unpaid taxes in any material amount claimed
to be due by the taxing authority of any jurisdiction, and the officers of the
Company know of no basis for any such claim. The Company has not executed a
waiver with respect to the statute of limitations relating to the assessment or
collection of any foreign, federal, statue or local tax. To the Company's
knowledge, none of the Company's tax returns is presently being audited by any
taxing authority.

                  (u) Except as disclosed in the SEC Reports, (i) the Company is
not indebted in excess of $20,000, directly or indirectly, to any of its
employees, officers or directors or to their respective spouses or children, in
any amount whatsoever other than in connection with accrued but unpaid salary
payments, expenses or advances of expenses incurred in the ordinary course of
business or relocation expenses of employees, officers and directors, nor is the
Company contemplating such indebtedness as of the date of this Agreement, except
that the Company's Chairman and Chief Executive Officer, Henry

                                       13
<PAGE>

Hoffman and his wife, personally guaranteed the Company's indebtedness to
Southwest Missouri Bank to secure a line of credit to purchase infrastructure
needs of the Company, (ii) to the Company's knowledge, none of said employees,
officers or directors, or any member of their immediate families, is directly or
indirectly indebted to the Company (other than in connection with purchases of
the Company's stock) or have any direct or indirect ownership interest in any
firm or corporation with which the Company is affiliated or with which the
Company has a business relationship or any firm or corporation which competes
with the Company, nor is the Company contemplating such indebtedness as of the
date of this Agreement, except that employees, officers, directors and/or
shareholders of the Company may own stock in publicly traded companies (not in
excess of 1% of the outstanding capital stock thereof) which may directly
compete with the Company and (iii) to the Company's knowledge, no employee,
shareholder, officer or director, or any member of their immediate families, is,
directly or indirectly, interested in any material contract with the Company,
nor does any such person own, directly or indirectly, in whole or in part, any
material tangible or intangible property that the Company uses or contemplates
using in the conduct of its business. The Company is not a guarantor or
indemnitor of any indebtedness of any other Person.

                  (w) The Company has in full force and effect fire and casualty
insurance policies, with extended coverage, sufficient in amount (subject to
reasonable deductibles) to allow it to replace any of its properties that might
be damaged or destroyed, and the Company has insurance against other hazards,
risks, and liabilities to persons and property to the extent and in the manner
customary for companies in similar businesses similarly situated.

                  (x) If the Offering is conducted in accordance with the
Transaction Documents and the Memorandum, the sale of the Units by the Company
hereunder nor its use of the proceeds thereof will violate the Trading with the
Enemy Act, as amended, or any of the foreign assets control regulations of the
United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or
any enabling legislation or executive order relating thereto. Without limiting
the foregoing, neither the Company nor any of its Subsidiaries (a) is a person
whose property or interests in property are blocked pursuant to Section 1 of
Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting
Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism
(66 Fed. Reg. 49079 (2001)) or (b) engages in any dealings or transactions, or
be otherwise associated, with any such person. The Company and its Subsidiaries
are in compliance with the USA Patriot Act of 2001 (signed into law October 26,
2001).

         7. Indemnification. The Purchaser agrees to indemnify and hold harmless
the Company, SBIL and each of their respective officers, directors, employees,
agents, attorneys, control persons and affiliates from and against all losses,
liabilities, claims, damages, costs, fees and expenses whatsoever (including,
but not limited to, any and all expenses incurred in investigating, preparing or
defending against any litigation commenced or threatened) based upon or arising
out of any actual or alleged false acknowledgment, representation or warranty,
or misrepresentation or omission to state a material fact, or breach by the
Purchaser of any covenant or agreement made by the Purchaser herein or in any
other document delivered in connection with this Subscription Agreement.

                                       14
<PAGE>

         8. Irrevocability; Binding Effect. The Purchaser hereby acknowledges
and agrees that the subscription hereunder is irrevocable by the Purchaser,
except as required by applicable law, and that this Subscription Agreement will
survive the death or disability of the Purchaser and will be binding upon and
inure to the benefit of the parties and their heirs, executors, administrators,
successors, legal representatives, and permitted assigns. If the Purchaser is
more than one person, the obligations of the Purchaser hereunder will be joint
and several and the agreements, representations, warranties and acknowledgments
herein will be deemed to be made by and be binding upon each such person and
such person's heirs, executors, administrators, successors, legal
representatives and permitted assigns.

         9. Modification. This Subscription Agreement will not be modified or
waived except by an instrument in writing signed by the parry against whom any
such modification or waiver is sought.

         10. Notices. Any notice or other communication required or permitted to
be given hereunder will be in writing and will be mailed by certified mail,
return receipt requested, or delivered against receipt to the party to whom it
is to be given (a) if to the Company, at the address set forth above or (b) if
to the Purchaser, at the address set forth on the signature page hereof (or, in
either case, to such other address as the party will have furnished in writing
in accordance with the provisions of this Section 10). Any notice or other
communication given by certified mail will be deemed given at the time of
certification thereof, except for a notice changing a party's address which will
be deemed given at the time of receipt thereof.

         11. Assignability. This Subscription Agreement and the rights,
interests and obligations hereunder are not transferable or assignable by the
Purchaser and the transfer or assignment of the Units, the shares of Common
Stock issued by the Company or the shares of Common Stock issuable upon exercise
of the Warrants or otherwise contained in the Units will be made only in
accordance with all applicable laws.

         12. Applicable Law. This Subscription Agreement will be governed by and
construed under the laws of the State of New York as applied to agreements among
New York residents entered into and to be performed entirely within New York.
Each of the parties hereto (1) agree that any legal suit, action or proceeding
arising out of or relating to this Agreement will be instituted exclusively in
New York State Supreme Court, County of New York, or in the United States
District Court for the Southern District of New York, (2) waive any objection
which the Company may have now or hereafter to the venue of any such suit,
action or proceeding, and (3) irrevocably consent to the jurisdiction of the New
York State Supreme Court, County of New York, and the United States District
Court for the Southern District of New York in any such suit, action or
proceeding. Each of the parties hereto further agrees to accept and acknowledge
service of any and all process which may be served in any such suit, action or
proceeding in the New York State Supreme Court, County of New York, or in the
United States District Court for the Southern District of New York and agree
that service of process upon it mailed by certified mail to its address will be
deemed in every respect effective service of process upon it, in any such suit,
action or proceeding. THE

                                       15
<PAGE>

PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS SUBSCRIPTION
AGREEMENT OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.

         13. Blue Sky Qualification. The purchase of Units under this
Subscription Agreement is expressly conditioned upon the exemption from
qualification of the offer and sale of the Units from applicable Federal and
state securities laws. The Company will not be required to qualify this
transaction under the securities laws of any jurisdiction and, should
qualification be necessary, the Company will be released from any and all
obligations to maintain its offer, and may rescind any sale contracted, in the
jurisdiction.

         14. Use of Pronouns. All pronouns and any variations thereof used
herein will be deemed to refer to the masculine, feminine, neuter, singular or
plural as the identity of the person or persons referred to may require.

         15. Confidentiality. The Purchaser acknowledges and agrees that any
information or data the Purchaser has acquired from or about the Company, not
otherwise properly in the public domain, was received in confidence. The
Purchaser agrees not to divulge, communicate or disclose, except as may be
required by law or for the performance of this Subscription Agreement, or use to
the detriment of the Company or for the benefit of any other person or persons,
or misuse in any way, any confidential information of the Company, including any
scientific, technical, trade or business secrets of the Company and any
scientific, technical, trade or business materials that are treated by the
Company as confidential or proprietary, including, but not limited to, ideas,
discoveries, inventions, developments and improvements belonging to the Company
and confidential information obtained by or given to the Company about or
belonging to third parties.

         16. Miscellaneous.

                  (a) This Subscription Agreement, together with the Company
Warrants and the Registration Rights Agreement, constitute the entire agreement
between the Purchaser and the Company with respect to the subject matter hereof
and supersede all prior oral or written agreements and understandings, if any,
relating to the subject matter hereof. The terms and provisions of this
Subscription Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the
benefits of such terms or provisions.

                  (b) Each of the Purchaser's and the Company's representations
and warranties made in this Subscription Agreement will survive the execution
and delivery hereof and delivery of the Shares for a period of twenty-four (24)
months from the date of issuance.

                  (c) Each of the parties hereto will pay its own fees and
expenses (including the fees of any attorneys, accountants, appraisers or others
engaged by such party) in connection with this Subscription Agreement and the
transactions contemplated hereby whether or not the transactions contemplated
hereby are consummated.

                                       16
<PAGE>

                  (d) This Subscription Agreement may be executed in one or more
counterparts each of which will be deemed an original, but all of which will
together constitute one and the same instrument.

                  (e) Each provision of this Subscription Agreement will be
considered separable and, if for any reason any provision or provisions hereof
are determined to be invalid or contrary to applicable law, such invalidity or
illegality will not impair the operation of or affect the remaining portions of
this Subscription Agreement.

                  (f) Paragraph titles are for descriptive purposes only and
will not control or alter the meaning of this Subscription Agreement as set
forth in the text.

         17. Omnibus Signature Page. This Subscription Agreement is intended to
be read and construed in conjunction with the Registration Rights Agreement.
Accordingly, pursuant to the terms and conditions of this Subscription Agreement
and such related agreements it is hereby agreed that the execution by the
Purchaser of this Subscription Agreement, in the place set forth herein, will
constitute agreement to be bound by the terms and conditions hereof and the
terms and conditions of the Registration Rights Agreement, with the same effect
as if each of such separate, but related agreement, were separately signed.

                        [REMAINDER OF THIS PAGE IS BLANK]

                                       17
<PAGE>

                       ANTI-MONEY LAUNDERING REQUIREMENTS

The USA PATRIOT Act
-------------------

The USA PATRIOT Act is designed to detect, deter, and punish terrorists in the
United States and abroad. The Act imposes new anti-money laundering requirements
on brokerage firms and financial institutions. Since April 24, 2002 all
brokerage firms have been required to have new, comprehensive anti-money
laundering programs.

To help you understand theses efforts, we want to provide you with some
information about money laundering and our steps to implement the USA PATRIOT
Act.

What is money laundering?
-------------------------

Money laundering is the process of disguising illegally obtained money so that
the funds appear to come from legitimate sources or activities. Money laundering
occurs in connection with a wide variety of crimes, including illegal arms
sales, drug trafficking, robbery, fraud, racketeering, and terrorism.

How big is the problem and why is it important?
-----------------------------------------------

The use of the U.S. financial system by criminals to facilitate terrorism or
other crimes could well taint our financial markets. According to the U.S. State
Department, one recent estimate puts the amount of worldwide money laundering
activity at $1 trillion a year.

What are we required to do to eliminate money laundering?
---------------------------------------------------------

Under new rules required by the USA PATRIOT Act, our anti-money laundering
program must designate a special compliance officer, set up employee training,
conduct independent audits, and establish policies and procedures to detect and
report suspicious transaction and ensure compliance with the new laws.

As part of our required program, we may ask you to provide various
identification documents or other information. Until you provide the information
or documents we need, we may not be able to effect any transactions for you.

                                       18
<PAGE>

                                 SIRICOMM, INC.
                            OMNIBUS SIGNATURE PAGE TO
            SUBSCRIPTION AGREEMENT AND REGISTRATION RIGHTS AGREEMENT

Purchaser hereby elects to purchase a total of _________ Units at a price of
$100,000 per Unit (NOTE: to be completed by the Purchaser).

Date (NOTE To be completed by the Purchaser):__________________________, 2004

________________________________________________________________________________
    If the Purchaser is an INDIVIDUAL, and if purchased as JOINT TENANTS, as
                  TENANTS IN COMMON, or as COMMUNITY PROPERTY

______________________________________  ________________________________________
Print Name(s)                           Social Security Number(s)

______________________________________  ________________________________________
Signature(s) of Purchaser(s)            Signature

______________________________________  ________________________________________
Date                                    Address

       If the Purchaser is a PARTNERSHIP, CORPORATION, LIMITED LIABILITY
                                COMPANY or TRUST

______________________________________  ________________________________________
Name of Partnership, Corporation,       Federal Taxpayer
Limited Liability Company or Trust      Identification Number

By:_________________________.           ________________________________________
   Name:                                State of Organization
   Title:

______________________________________  ________________________________________
Date                                    Address

SIRICOMM, INC.

By:______________________________
   Authorized Officer

                                       19
<PAGE>

                SIRICOMM, INC. ACCREDITED INVESTOR CERTIFICATION

                          For Individual Investors Only
           (all Individual Investors must INITIAL where appropriate):

 Initial

 Initial

Initial

                  I certify that I have a net worth (including home, furnishings
                  and automobiles) of at least $1 million either individually or
                  through aggregating my individual holdings and those in which
                  I have a joint, community property or other similar shared
                  ownership interest with my spouse.

                  I certify that I have had an annual gross income for the past
                  two years of at least $200,000 (or $300,000 jointly with my
                  spouse) and expect my income (or joint income, as appropriate)
                  to reach the same level in the current year.

                  I certify that I am a director or executive officer of
                  SiriCOMM, Inc. (the "Company").

                          For Non-Individual Investors
         (all Non-Individual Investors must INITIAL where appropriate):

                  The undersigned certifies that it is a partnership,
                  corporation, limited liability company or business trust that
                  is 100% owned by persons who meet either of the criteria for
                  Individual Investors, above.

                  The undersigned certifies that it is a partnership,
                  corporation, limited liability company or business trust that
                  has total assets of at least $5 million and was not formed for
                  the purpose of investing in the Company.

                  The undersigned certifies that it is an employee benefit plan
                  whose investment decision is made by a plan fiduciary (as
                  defined in ERISA ss.3(21)) that is a bank, savings and loan
                  association, insurance company or registered investment
                  adviser.

                  The undersigned certifies that it is an employee benefit plan
                  whose total assets exceed $5,000,000 as of the date of the
                  Subscription Agreement.

                  The undersigned certifies that it is a self-directed employee
                  benefit plan whose investment decisions are made solely by
                  persons who meet either of the criteria for Individual
                  Investors, above.

                  The undersigned certifies that it is a U.S. bank, U.S. savings
                  and loan association or other similar U.S. institution acting
                  in its individual or fiduciary capacity.

                  The undersigned certifies that it is a broker-dealer
                  registered pursuant to ss.15 of the Securities Exchange Act of
                  1934.

                  The undersigned certifies that it is an organization described
                  in ss.501(c)(3) of the Internal Revenue Code with total assets
                  exceeding $5,000,000 and not formed for the specific purpose
                  of investing in the Company.

                                       20
<PAGE>

                  The undersigned certifies that it is a trust with total assets
                  of at least $5,000,000, not formed for the specific purpose of
                  investing in the Company, and whose purchase is directed by a
                  person with such knowledge and experience in financial and
                  business matters that he is capable of evaluating the merits
                  and risks of the prospective investment.

                  The undersigned certifies that it is a plan established and
                  maintained by a state or its political subdivisions, or any
                  agency or instrumentality thereof, for the benefit of its
                  employees, and which has total assets in excess of $5,000,000.

                  The undersigned certifies that it is an insurance company as
                  defined in ss.2(a)(13) of the Securities Act of 1933, as
                  amended, or a registered investment company.

                                       21
<PAGE>

                                 SIRICOMM, INC.
                                Investor Profile
                        (Must be completed by Investor)

                    Section A - Personal Investor Information

INVESTOR NAME(S):
_______________________________________________________________________________

INDIVIDUAL EXECUTING PROFILE OR TRUSTEE:
________________________________________________________________________________

SOCIAL SECURITY NUMBERS / FEDERAL I.D. NUMBER:
________________________________________________________________________________

DATE OF BIRTH:____________________________  MARITAL STATUS: ____________________

JOINT PARTY DATE OF BIRTH:_____________________
INVESTMENT EXPERIENCE (YEARS):_________________

ANNUAL INCOME:________________________________
LIQUID NET WORTH:_____________________________

NET WORTH:____________________________________

INVESTMENT OBJECTIVES (CIRCLE ONE OR MORE):

         LONG TERM CAPITAL APPRECIATION, SHORT TERM TRADING,
         BUSINESSMAN'S RISK, INCOME, SAFETY OF PRINCIPAL, TAX EXEMPT
         INCOME OR OTHER

HOME STREET ADDRESS:
________________________________________________________________________________

HOME CITY, STATE & ZIP CODE:
________________________________________________________________________________

HOME PHONE:_________________________________HOME FAX:___________________________

HOME EMAIL:_____________________________________________________________________

EMPLOYER:
________________________________________________________________________________

EMPLOYER STREET ADDRESS:
________________________________________________________________________________

EMPLOYER CITY, STATE & ZIP CODE:
________________________________________________________________________________

                                       22
<PAGE>

BUS. PHONE:_________________________________BUS. FAX:___________________________

BUS. EMAIL:_____________________________________________________________________

TYPE OF BUSINESS:
________________________________________________________________________________

SBIL ACCOUNT EXECUTIVE / OUTSIDE BROKER/DEALER:
________________________________________________________________________________

                  Section B - Certificate Delivery Instructions

               PLEASE DEPOSIT MY CERTIFICATE IN MY SBIL ACCOUNT #

_______  PLEASE OPEN A SBIL ACCOUNT AND SUBSEQUENTLY DEPOSIT MY CERTIFICATE IN
         IT

_______  PLEASE DELIVER MY CERTIFICATE TO THE EMPLOYER ADDRESS LISTED IN SECTION
         A

_______  PLEASE DELIVER MY CERTIFICATE TO THE HOME ADDRESS LISTED IN SECTION A

_______  PLEASE DELIVER MY CERTIFICATE TO THE FOLLOWING ADDRESS:
         _______________________________________________________________________

              Section C - Form of Payment - Check or Wire Transfer

_______  CHECK PAYABLE TO "SIGNATURE BANK, AS AGENT FOR SIRICOMM, INC."

_______  WIRE FUNDS FROM MY OUTSIDE ACCOUNT ACCORDING TO THE "TO SUBSCRIBE FOR
         UNITS IN THE PRIVATE OFFERING OF SIRICOMM, INC." PAGE (PAGE "I")

_______  WIRE FUNDS FROM MY SBIL ACCOUNT - SEE FOLLOWING PAGE

_______  THE FUNDS FOR THIS INVESTMENT ARE ROLLED OVER, TAX DEFERRED
         FROM_____________________________________WITHIN THE ALLOWED 60-DAY
         WINDOW

PLEASE CHECK IF YOU ARE A NASD MEMBER OR AFFILIATE OF A NASD MEMBER FIRM:
________________________________________________________________________________

INVESTOR SIGNATURE________________________________________DATE__________________

                                       23
<PAGE>

                     Memorandum Wire Transfer Authorization

TO:      OPERATIONS MANAGER
         SANDS BROTHERS INTERNATIONAL LIMITED

RE:      CLIENT WIRE TRANSFER AUTHORIZATION SIRICOMM, INC.

DATE:_________________________

________________________________________________________________________________

THIS MEMORANDUM AUTHORIZES THE TRANSFER OF THE FOLLOWING LISTED FUNDS FROM MY
SBIL BROKERAGE ACCOUNT AS FOLLOWS:

SBIL BROKERAGE ACCOUNT # ____________________________________________

WIRE AMOUNT $______________________________

                                 SIGNATURE BANK
         Acct. Name:    Signature Bank as Escrow Agent for
                        SiriCOMM, Inc.
         ABA Number:    __________________________________
         A/C Number:    __________________________________

         REFERENCE

         SUBSCRIBER LEGAL NAME
         _______________________________________________________________________

         TAX ID NUMBER
         _______________________________________________________________________

         SUBSCRIBER ADDRESS
         _______________________________________________________________________

FBO:              ______________________________________________________________

INVESTMENT TITLE: ______________________________________________________________

SIGNATURE         ______________________________________________________________

SIGNATURE:        ______________________________________________________________
                  (Joint Signature)

                                       24

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