Document:

6-K

Exhibit 4.4  

FIXED CHARGE AGREEMENT  

        THIS
FIXED CHARGE AGREEMENT (this “Agreement”) made as of the
1st day of May 2006, by and among Attunity Ltd., a company duly
incorporated under the laws of the State of Israel, having its principal place of business
at Kfar Netter Industrial Park, Kfar Netter 40593, Israel (the
“Pledgor”), Plenus Technologies Ltd. of Delta House, 16 Abba Eben Avenue,
Herzeliya 46725, Israel (“Plenus” or the “Lender”), and
Golden Gate Bridge Fund (Israel), Limited Partnership and United Mizrachi Bank, Ltd. (the
“Co-lenders”).  

        WHEREAS,
the Pledgor has agreed to enter into this Agreement in order to secure certain obligations
of the Pledgor, to the Lender and to the Co-lender, pursuant to the Loan Agreement; 

        NOW,
THEREFORE, IT IS AGREED AS FOLLOWS: 

     1.    
          The Preamble to this Agreement constitutes an integral part hereof. All
          capitalized terms used herein and not defined herein shall have the meaning
          assigned to such terms in the Loan Agreement by and among the Pledgor, the
          Lender and the Co-lenders, dated as of the date hereof (the “Loan
          Agreement”). 

     2.    
          To secure the performance of the Pledgor’s obligations pursuant to this
          Agreement, the Floating Charge Agreement, the Loan Agreement and the Warrant
          (the “Secured Obligations”), the Pledgor hereby pledges and
          grants the Lender, and to the Co-Lenders, a first priority fixed charge on all
          of the Pledgor rights in and to its intellectual property (the “Fixed
          Charge”) as more fully described in Exhibit A
          attached hereto (the “Collateral”), for as long
          as the Fixed Charge is in effect. 

     3.    
          The Pledgor will not without prior written consent of Plenus which will not be
          unreasonably withheld or delayed and which consent may be obtained, inter
          alia, via e-mail communication: (a) materially change the general nature of
          its business; (b) make any loan or other extension of credit to its
          distributors, customers or any subsidiary that is not wholly owned by Pledgor
          (with the exception of Attunity Software Services (1991) Ltd. in which the
          Company through its wholly owned subsidiary, Attunity Israel (1992) Ltd., holds
          a 98% interest), other than loans and advances granted in the ordinary course of
          business and for an aggregate amount of not more than $50,000; (c) receive any
          loan or advance from a third party or incur any debt, other than debt incurred
          in the ordinary course of business consistent with past business practices of
          the Pledgor and up to an aggregate amount of US$100,000; (d) issue any guarantee
          or otherwise incur any contingent liability, other than in the ordinary course
          of business and up to an aggregate amount of US$100,000; (e) sell, transfer,
          assign, grant a security interest in or pledge any of the Collateral or any of
          the Pledgor’s other assets (f) repay any existing or future loans, debts or
          other financial obligations, including, without limitation, with respect to
          shareholders’ loans, in the aggregate amount of more than US$50,000,
          excluding, however, operating expenses of the Pledgor which are incurred in the
          Pledgor’s ordinary course of business and repayment of loans or debts the
          assumption of which is not forbidden pursuant to this Agreement; (g) transfer
          ownership of its assets (other than the Collateral) to a third party other than
          in the ordinary course of business; (h) create or permit to exist any
          encumbrance over any of its present or future revenues or assets; and (i)
          distribute any dividends. 

        The
provisions of this Section 3 shall apply mutatis mutandis to any existing and/or
future subsidiaries or affiliates of the Pledgor. The Pledgor undertakes that each and
every of its existing and future subsidiaries, shall undertake in writing to comply with
this Section 3 as provided above. 

     4.    
          The Pledgor shall use best efforts to preserve the Collateral, without
          interfering with the use of the Collateral in the ordinary course of business,
          and shall at all time maintain insurance which is adequate for a company of the
          size, at the stage of development and in the industry which Pledgor operates and
          approved by Plenus. The Pledgor shall permit the Lender and the Co-lenders to
          inspect the Collateral and its records at all reasonable times and upon
          reasonable notice, subject to customary non-disclosure restrictions as
          reasonably determined by the Pledgor. 

     5.    
          The Pledgor hereby makes those representations and warranties appearing in
          Section 4 of the Loan Agreement and such representations and warranties are
          incorporated by reference herein. 

     6.    
          Subject to applicable law, Plenus shall be entitled on behalf of the Lender and
          the Co-lenders to enforce the Fixed Charge against the Pledgor, and the
          Collateral shall be subject to immediate foreclosure, at any time without any
          further demand, immediately upon the occurrence of an Event of Acceleration,
          unless otherwise provided for below or in the Loan Agreement. 

        The
Pledgor shall promptly inform the Lender of the occurrence of any Event of Acceleration
and, upon receipt of a written request to that effect from Plenus, confirm to the Lender
that, except as previously notified to the Lender or as notified in such confirmation, no
Event of Acceleration has occurred. 

	7.	          (a) 	Upon
the occurrence of any Event of Acceleration, Plenus shall be entitled           to adopt
all the measures it deems fit, allowed by applicable law, in order to           recover
the performance of the Secured Obligations and realize all of its rights
          hereunder, including the realization of the Collateral, in whole or in part,
and           to apply the proceeds thereof to the Secured Obligations without Plenus
first           being required to realize any other guarantees or collateral securities,
if such           be held by Plenus. 

	 	 (b) 	Upon
the occurrence of an Event of Acceleration, Plenus may, as attorney-in-fact
               of the Pledgor (and, for the purpose hereof, the Pledgor does hereby
irrevocably                appoints Plenus to be its attorney-in-fact), subject to any
applicable law, sell                all or any part of the Collateral by public auction
or otherwise, by itself or                through others, for cash or installments
thereof or otherwise, at a price and on                such terms as Plenus in its
reasonable discretion shall deem fit, and likewise,                subject to applicable
law, Plenus may of its own accord or through the court or                an execution
office, realize the Collateral or any part thereof, including, inter alia, by
appointing a receiver or receiver and manager on behalf of                Plenus, who
shall be empowered, inter alia: 

	 	(1) 	to
call in all or any part of the Collateral;  

	 	(2) 	to
sell, or agree to the sale of, the Collateral, in whole or in part, to
                    dispose, or agree to dispose, of same in such other manner on such
terms as he                     deems fit;  

- 2 -

               	 	(3) 	
                    to make such other arrangement regarding the Collateral or any part thereof as
                    he deems fit; 

                    

               	 	(4) 	
                    to take any and all action required which he, at his sole discretion, deems
                    productive or otherwise helpful, for the realization of the Collateral, and/or
                    for the fulfillment of his duty; and 

                    

               	 	(5) 	
                    to carry out any other authority empowered to him by the court or the execution
                    office. 

                    

	 	
The
Lender and the Co-Lender acknowledge and agree that certain of the Collateral may have
been developed with the assistance of funds received from the Office of the Chief
Scientist of the Israeli Ministry of Industry, Trade and Employment and consequently the
use, transfer and sale of such Collateral is subject to the Law for the Encouragement of
Industrial Research and Development, 5744-1984, as amended or supplemented from time to
time and all rules and regulations issued thereunder (the “R&D Law”)
and they undertake to comply with the R&D Law. 

     8.    
          The Pledgor shall cooperate with the Lender and Co-lender and execute all
          documents as may be reasonably necessary or advisable to register the Fixed
          Charge with the Israeli Registrar of Companies and/or Registrar of Pledges, such
          document(s) substantially in the form annexed hereto as Exhibit
          B, and shall bear all stamp taxes with respect to such
          registrations, if such are applicable. The Pledgor shall pay, upon demand, all
          reasonable expenses, including reasonable attorney’s fees, incurred by the
          Lender and the Co-lenders in enforcing their rights and remedies hereunder. 

     9.    
          The amount being secured under the Fixed Charge created by this Fixed Charge
          Agreement is limited in accordance with the Loan Agreement, to the Loan Amount
          together with any accrued Interest thereon and any other amounts due according
          to this Agreement. The payments to be made to the Lender and the Co-lender in
          the event of the foreclosure of the Fixed Charge will be made in the following
          order: costs (pro rata among the Lender and the Co-lender),
          expenses and taxes, Interest, any payment under Section 9.6 of the Loan
          Agreement and then the Loan Amount. The Fixed Charge shall be cancelled, and the
          Lender and Co-lender shall promptly execute and provide the Pledgor with all
          documents necessary to release the Fixed Charge, upon repayment of all amounts
          owed to the Lender and the Co-lender and the termination of the Loan Agreement
          pursuant to its terms. 

     10.    
          This Agreement shall be governed by, and construed in accordance with, the laws
          of the State of Israel. The parties hereto hereby irrevocably submit to the
          exclusive jurisdiction of the appropriate court in Tel Aviv, Israel. 

     11.    
          The Pledgor shall promptly notify Plenus in writing of any Material Adverse
          Change and of any other event that may materially adversely affect the condition
          or value of the Collateral. 

     12.    
          The Pledgor will immediately notify the Lender and Co-lender of any material
          change in its name or identity or corporate structure or in the location of its
          chief offices or where its books and records are kept, as well as any change to
          its incorporation documents which might adversely affect the Lender’s and
          the Co-lender’s rights hereunder. 

- 3 -

     13.    
          None of the rights, privileges, or obligations set forth in, arising under, or
          created by this Agreement may be assigned or transferred by any party hereto
          without the prior consent in writing of the Pledgor and Plenus. Notwithstanding
          the foregoing and without derogating from the requirement and limitations set
          forth immediately below, the Lender and the Co-lenders shall have the right to
          assign or transfer any of its rights, privileges and obligations under this
          Agreement to a Permitted Transferee, provided that such assignment or transfer
          is not to a competitor of the Pledgor, and further provided that the assignee or
          transferee undertakes, in writing, all of such Lender’s or Co-lender’s
          obligations hereunder. The assigning or transferring Lender or Co-lender shall
          notify the Pledgor in writing of any such assignment or transfer no later than
          seven (7) days following its execution. 

     14.    
          Notwithstanding anything herein to the contrary, (i) the Co-lender has agreed
          that Plenus at its sole discretion shall determine whether to realize any
          charges and/or pledges over the assets of the Pledgor created for the benefit of
          the Lender and the Co-lender, (ii) the Co-lender has agreed that Plenus at its
          sole discretion shall determine whether a Default Event has occurred, and (iii)
          Plenus has been appointed the attorney-in-fact on behalf of the Co-lender in
          connection with all of the foregoing and the Co-lenders have agreed not to take
          any action to the contrary. 

     15.    
          Any notices to be provided by one party to another shall be done in accordance
          with the notice provisions set forth in the Loan Agreement. 

[signature page
follows] 

- 4 -

IN WITNESS WHEREOF, this Fixed
Charge Agreement has been executed by the parties hereto as of the date first above
written. 

	ATTUNITY LTD.

By: /s/ Aki Ratner
——————————————

Title:      Chief Executive Officer
Date:	PLENUS TECHNOLOGIES LTD.

By: /s/ Shlomo Karako
——————————————

Title:    Chief Financial Officer
Date:

By: /s/ Moti Weiss
——————————————

Title:    Managing Partner
Date:

	MIZRACHI BANK, LTD. 

By: /s/ Kuty Mansdorf
——————————————

Title:  Deputy Head of Corporate Banking
Date:

	

By: /s/ Morad Ofir
——————————————

Title:    Senior Credit Officer
Date:

	GOLDEN GATE BRIDGE FUND (ISRAEL) LIMITED PARTNERSHIP

By: /s/ 
——————————————

Title:   _________________
Date:   _________________

- 5 -

EXHIBIT A  

        The
Collateral consists of all of Pledgor’s right, title in and to its intellectual
property rights, including, but not limited to, the following: 

        All
contract rights and general intangibles now owned or hereafter acquired, including,
without limitation, goodwill, trademarks, servicemarks, Internet domain names, trade
dress, trade styles, trade names, patents, patent applications, leases, license
agreements, franchise agreements, blueprints, drawings, purchase orders, customer lists,
route lists, infringements, claims, computer programs, computer discs, computer tapes,
literature, reports, catalogs, design rights, all claims for damages by way of any past,
present and future infringement of any of the foregoing and rights to payment of any kind; 

        All
now existing and hereafter arising accounts, contract rights, royalties, license rights
and all other forms of obligations owing to Pledgor arising out of the sale or lease of
goods, the licensing of technology or the rendering of services by Pledgor, whether or not
earned by performance, and any and all credit insurance, guaranties, and other security
therefor, as well as all merchandise returned to or reclaimed by Pledgor; 

        All
copyright rights, copyright applications, copyright registrations and like protections in
each work of authorship and derivative work thereof, whether published or unpublished, now
owned or hereafter acquired; all trade secret rights, including all rights to unpatented
inventions, know-how, operating manuals, license rights and agreements and confidential
information, now owned or hereafter acquired; all mask work or similar rights available
for the protection of semiconductor chips, now owned or hereafter acquired; all claims for
damages by way of any past, present and future infringement of any of the foregoing; and 

        All
Pledgor’s Books relating to the foregoing and any and all claims, rights and
interests in any of the above and all substitutions for, additions and accessions to and
proceeds thereof; and 

        The
term “Pledgor’s Books” as used herein shall mean all Pledgor’s
books and records including ledgers, records regarding Pledgor’s assets or
liabilities, the Collateral, business operations or financial condition and all computer
programs or discs or any equipment containing the information. 

        All
insurance policies or the proceeds thereof in respect of the above described assets. 

- 6 -<PAGE>

                                                                     Exhibit 4.7

                                 FORM OF WARRANT

         THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
         SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
         STATEMENT FOR THE SECURITIES OR AN OPINION OF COUNSEL OR OTHER EVIDENCE
         ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

                               AMBIENT CORPORATION

                          COMMON STOCK PURCHASE WARRANT
                               CLASS 2006-___(1)

                  1. ISSUANCE. In consideration of good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged by
AMBIENT CORPORATION, a Delaware corporation (the "Company"),
_____________________________ or registered assigns (the "Holder") is hereby
granted the right to purchase at any time, on or after the Commencement Date (as
defined below) until 5:00 P.M., New York City time, on the Expiration Date (as
defined below), _________________ Thousand __________ (____________)(2) fully
paid and nonassessable shares of the Company's Common Stock, $0.001 par value
per share (the "Common Stock"), at an initial exercise price per share (the
"Exercise Price") of $____(3) per share, subject to further adjustment as set
forth herein. This Warrant is being issued pursuant to the terms of that certain
Securities Purchase Agreement, dated as of May __ 2006 (the "Agreement"), to
which the Company and Holder (or Holder's predecessor in interest) are parties.
Capitalized terms not otherwise defined herein shall have the meanings ascribed
to them in the Agreement. This Warrant was originally issued to the Holder of
the Holder's predecessor in interest on _____________, 2006(4) (the "Issue
Date").

2. EXERCISE OF WARRANTS.

                           2.1      GENERAL.

_____________________________
(1)Insert "A" or "B", as appropriate.
(2)For each Class, insert number equal to fifty percent (50%) of the Buyer's
Issue Date Conversion Shares for the Closing Date.
(3)Insert (i) for Class A - $0.20 and (ii) for Class B - $0.25
(4)Insert the Closing Date.

<PAGE>

                           (a) This Warrant is exercisable in whole or in part
at any time and from time to time commencing on the Commencement Date (as
defined below). Such exercise shall be effectuated by submitting to the Company
(either by delivery to the Company or by facsimile transmission as provided in
Section 8 hereof) a completed and duly executed Notice of Exercise
(substantially in the form attached to this Warrant Certificate) as provided in
the Notice of Exercise (or revised by notice given by the Company as
contemplated by the Section headed "NOTICES" in the Agreement). The date such
Notice of Exercise is faxed to the Company shall be the "Exercise Date,"
provided that, if such exercise represents the full exercise of the outstanding
balance of the Warrant, the Holder of this Warrant tenders this Warrant
Certificate to the Company within five (5) Trading Days thereafter. The Notice
of Exercise shall be executed by the Holder of this Warrant and shall indicate
(i) the number of shares then being purchased pursuant to such exercise and (ii)
if applicable (as provided below), whether the exercise is a cashless exercise.

                           (b) The provisions of this Section 2.1(b) shall only
be applicable (i) on or after the first anniversary of the Issue Date, and (ii)
if, and only if, on the Exercise Date there is no effective Registration
Statement covering the Warrant Shares (other than during a Permitted Suspension
Period, as defined in the Registration Rights Agreement). If the Notice of
Exercise form elects a "cashless" exercise, the Holder shall thereby be entitled
to receive a number of shares of Common Stock equal to (w) the excess of the
Current Market Value (as defined below) over the total cash exercise price of
the portion of the Warrant then being exercised, divided by (x) the Market Price
of the Common Stock. For the purposes of this Warrant, the terms (y) "Current
Market Value" shall mean an amount equal to the Market Price of the Common
Stock, multiplied by the number of shares of Common Stock specified in the
applicable Notice of Exercise, and (z) "Market Price of the Common Stock" shall
mean the average Closing Price of the Common Stock for the three (3) Trading
Days ending on the Trading Day immediately prior to the Exercise Date.

                           (c) If the Holder provides on the Notice of Exercise
that the Holder has elected a "cash" exercise (or if the cashless exercise
referred to in the immediately preceding paragraph (b) is not available in
accordance with its terms), the Exercise Price per share of Common Stock for the
shares then being exercised shall be payable, at the election of the Holder, in
cash or by certified or official bank check or by wire transfer in accordance
with instructions provided by the Company at the request of the Holder.

                           (d) Upon the appropriate payment, if any, of the
Exercise Price for the shares of Common Stock purchased, together with the
surrender of this Warrant Certificate (if required), the Holder shall be
entitled to receive a certificate or certificates for the shares of Common Stock
so purchased. The Company shall deliver such certificates representing the
Warrant Shares in accordance with the instructions of the Holder as provided in
the Notice of Exercise (the certificates delivered in such manner, the "Warrant
Share Certificates") within three (3) Trading Days (such third Trading Day, a
"Delivery Date") of (i) with respect to a "cashless exercise," the Exercise Date
or, (ii) with respect to a "cash" exercise, the later of the

<PAGE>

Exercise Date or the date the payment of the Exercise Price for the relevant
Warrant Shares is received by the Company.

                           (e) The Holder shall be deemed to be the holder of
the shares issuable to it in accordance with the provisions of this Section 2.1
on the Exercise Date.

                           2.2      LIMITATION ON EXERCISE. Notwithstanding
the provisions of this Warrant, the Agreement or of the other Transaction
Agreements, in no event (except (i) as specifically provided in this Warrant as
an exception to this provision, (ii) during the forty-five (45) day period prior
to the Expiration Date, or (iii) while there is outstanding a tender offer for
any or all of the shares of the Company's Common Stock) shall the Holder be
entitled to exercise this Warrant, or shall the Company have the obligation to
issue shares upon such exercise of all or any portion of this Warrant to the
extent that, after such exercise the sum of (1) the number of shares of Common
Stock beneficially owned by the Holder and its affiliates (other than shares of
Common Stock which may be deemed beneficially owned through the ownership of the
unexercised portion of the Warrants or other rights to purchase Common Stock or
through the ownership of the unconverted portion of convertible securities), and
(2) the number of shares of Common Stock issuable upon the exercise of the
Warrants with respect to which the determination of this proviso is being made,
would result in beneficial ownership by the Holder and its affiliates of more
than 4.99% of the outstanding shares of Common Stock (after taking into account
the shares to be issued to the Holder upon such exercise). For purposes of the
proviso to the immediately preceding sentence, beneficial ownership shall be
determined in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the "1934 Act"), except as otherwise provided in clause (1) of
such sentence. The Holder, by its acceptance of this Warrant, further agrees
that if the Holder transfers or assigns any of the Warrants to a party who or
which would not be considered such an affiliate, such assignment shall be made
subject to the transferee's or assignee's specific agreement to be bound by the
provisions of this Section 2.2 as if such transferee or assignee were the
original Holder hereof.

                           2.3      CERTAIN DEFINITIONS. As used herein, each
of the following terms has the meaning set forth below, unless the context
otherwise requires:

                           (a) "Commencement Date" means the date which is the
earlier of (i) sixty-five days after the Closing Date, or (ii) the Effective
Date.

                           (b) "Expiration Date" means the date which the last
calendar of the month in which the _______(5) anniversary of the Effective Date
occurs.

                  3. RESERVATION OF SHARES. The Company hereby agrees that, at
all times during the term of this Warrant, there shall be reserved for issuance
upon exercise of this Warrant, one hundred percent (100%) of the number of
shares of its Common Stock as shall be

_____________________________
(5)Insert (i) for Class A -third; and (ii) for Class B - fifth

<PAGE>

required for issuance of the Warrant Shares for the then unexercised portion of
this Warrant. For the purposes of such calculations, the Company should assume
that the outstanding portion of this Warrants was exercisable in full at any
time, without regard to any restrictions which might limit the Holder's right to
exercise all or any portion of this Warrant held by the Holder.

                  4. MUTILATION OR LOSS OF WARRANT. Upon receipt by the Company
of evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Warrant, and (in the case of loss, theft or destruction) receipt of
reasonably satisfactory indemnification, and (in the case of mutilation) upon
surrender and cancellation of this Warrant, the Company will execute and deliver
a new Warrant of like tenor and date and any such lost, stolen, destroyed or
mutilated Warrant shall thereupon become void.

                  5. RIGHTS OF THE HOLDER. The Holder shall not, by virtue
hereof, be entitled to any rights of a stockholder in the Company, either at law
or equity, and the rights of the Holder are limited to those expressed in this
Warrant and are not enforceable against the Company except to the extent set
forth herein.

                  6. PROTECTION AGAINST DILUTION AND OTHER ADJUSTMENTS.

                           6.1      ADJUSTMENT  MECHANISM.  If an adjustment of
the Exercise Price is required pursuant to this Section 6 (other than pursuant
to Section 6.4), the Holder shall be entitled to purchase such number of shares
of Common Stock as will cause (i) (x) the total number of shares of Common Stock
Holder is entitled to purchase pursuant to this Warrant following such
adjustment, multiplied by (y) the adjusted Exercise Price per share, to equal
the result of (ii) (x) the dollar amount of the total number of shares of Common
Stock Holder is entitled to purchase before adjustment, multiplied by (y) the
total Exercise Price before adjustment.(6)

                           6.2      CAPITAL  ADJUSTMENTS.  In case of any stock
split or reverse stock split, stock dividend, reclassification of the Common
Stock, recapitalization, merger or consolidation (where the Company is not the
surviving entity), the provisions of this Section 6 shall be applied as if such
capital adjustment event had occurred immediately prior to the date of this
Warrant and the original Exercise Price had been fairly allocated to the stock
resulting from such capital adjustment; and in other respects the provisions of
this Section shall be applied in a fair, equitable and reasonable manner so as
to give effect, as nearly as may be, to the purposes

_____________________________
(6)Example: Assume 100,000 shares remain under Warrant at original stated
Exercise Price of US$[CLASS A - 0.21; CLASS B - 0.2625]. Total exercise price
(clause (y) in text) is (i) 100,000 x (ii) US$[CLASS A - 0.21; CLASS B -
0.2625], or US$[CLASS A - 21,000; CLASS B - 26,250]. Company effects 2:1 stock
split. Exercise Price is adjusted to US$[CLASS A - 0.105; CLASS B - 0.13125].
Number of shares covered by Warrant is adjusted to 200,000, because (applying
clause (x) in text) (i) 200,000 x (ii) US$[CLASS A - 0.105; CLASS B - 0.13125] =
US$[CLASS A - 21,000; CLASS B - 26,250].

<PAGE>

hereof. A rights offering to stockholders shall be deemed a stock dividend to
the extent of the bargain purchase element of the rights. The Company will not
effect any consolidation or merger, unless prior to the consummation thereof,
the successor or acquiring entity (if other than the Company) and, if an entity
different from the successor or acquiring entity, the entity whose capital stock
or assets the holders of the Common Stock of the Company are entitled to receive
as a result of such consolidation or merger assumes by written instrument the
obligations under this Warrant (including under this Section 6) and the
obligations to deliver to the holder of this Warrant such shares of stock,
securities or assets as, in accordance with the foregoing provisions, the holder
may be entitled to acquire.

                           6.3      ADJUSTMENT FOR SPIN OFF. If, for any
reason, prior to the exercise of this Warrant in full, the Company spins off or
otherwise divests itself of a part of its business or operations or disposes all
or of a part of its assets in a transaction (the "Spin Off") in which the
Company does not receive compensation for such business, operations or assets,
but causes securities of another entity (the "Spin Off Securities") to be issued
to security holders of the Company, then the Company shall cause (i) to be
reserved Spin Off Securities equal to the number thereof which would have been
issued to the Holder had all of the Holder's unexercised Warrants outstanding on
the record date (the "Record Date") for determining the amount and number of
Spin Off Securities to be issued to security holders of the Company (the
"Outstanding Warrants") been exercised as of the close of business on the
Trading Day immediately before the Record Date (the "Reserved Spin Off Shares"),
and (ii) to be issued to the Holder on the exercise of all or any of the
Outstanding Warrants, such amount of the Reserved Spin Off Shares equal to (x)
the Reserved Spin Off Shares, multiplied by (y) a fraction, of which (I) the
numerator is the amount of the Outstanding Warrants then being exercised, and
(II) the denominator is the amount of the Outstanding Warrants.

                           6.4      ADJUSTMENT  FOR CERTAIN  TRANSACTIONS.
Reference is made to the provisions of Section 4(g) of the Agreement, the terms
of which are incorporated herein by reference. The number of shares covered by
this Warrant and the Exercise Price shall be adjusted as provided in the
applicable provisions of said Section 4(g) of the Agreement.

                  7. TRANSFER TO COMPLY WITH THE SECURITIES ACT; REGISTRATION
RIGHTS.

                           7.1      TRANSFER.  This Warrant has not been
registered under the Securities Act of 1933, as amended, (the "Act") and has
been issued to the Holder for investment and not with a view to the distribution
of either the Warrant or the Warrant Shares. Neither this Warrant nor any of the
Warrant Shares or any other security issued or issuable upon exercise of this
Warrant may be sold, transferred, pledged or hypothecated in the absence of an
effective registration statement under the Act relating to such security or an
opinion of counsel satisfactory to the Company that registration is not required
under the Act. Each certificate for the Warrant, the Warrant Shares and any
other security issued or issuable upon exercise of this Warrant shall contain a
legend on the face thereof, in form and substance satisfactory to counsel for
the Company, setting forth the restrictions on transfer contained in this
Section.

<PAGE>

                           7.2      REGISTRATION RIGHTS.       (a)  Reference
is made to the Registration Rights Agreement. The Company's obligations under
the Registration Rights Agreement and the other terms and conditions thereof
with respect to the Warrant Shares, including, but not necessarily limited to,
the Company's commitment to file a registration statement including the Warrant
Shares, to have the registration of the Warrant Shares completed and effective,
and to maintain such registration, are incorporated herein by reference.

                           (b) In addition to the registration rights referred
to in the preceding provisions of Section 7.2(a), effective after the expiration
of the effectiveness of the Registration Statement as contemplated by the
Registration Rights Agreement, the Holder shall have piggy-back registration
rights with respect to the Warrant Shares then held by the Holder or then
subject to issuance upon exercise of this Warrant (collectively, the "Remaining
Warrant Shares"), subject to the conditions set forth below. If, at any time
after the Registration Statement has ceased to be effective, the Company
participates (whether voluntarily or by reason of an obligation to a third
party) in the registration of any shares of the Company's stock (other than a
registration on Form S-8 or on Form S-4), the Company shall give written notice
thereof to the Holder and the Holder shall have the right, exercisable within
ten (10) Trading Days after receipt of such notice, to demand inclusion of all
or a portion of the Holder's Remaining Warrant Shares in such registration
statement. If the Holder exercises such election, the Remaining Warrant Shares
so designated shall be included in the registration statement at no cost or
expense to the Holder (other than any costs or commissions which would be borne
by the Holder under the terms of the Registration Rights Agreement). The
Holder's rights under this Section 7 shall expire at such time as the Holder can
sell all of the Remaining Warrant Shares under Rule 144 without volume or other
restrictions or limit.

                  8. LATE DELIVERY OF WARRANT SHARES. Reference is made to
Section 5(b) of the Agreement, the terms of which are incorporated herein by
reference.

                  9. NOTICES. Any notice required or permitted hereunder shall
be given in manner provided in the Section headed "NOTICES" in the Agreement,
the terms of which are incorporated herein by reference.

                  10. SUPPLEMENTS AND AMENDMENTS; WHOLE AGREEMENT. This Warrant
may be amended or supplemented only by an instrument in writing signed by the
parties hereto. This Warrant contains the full understanding of the parties
hereto with respect to the subject matter hereof and thereof and there are no
representations, warranties, agreements or understandings other than expressly
contained herein and therein.

<PAGE>

                  11. GOVERNING LAW. This Warrant shall be deemed to be a
contract made under the laws of the State of New York for contracts to be wholly
performed in such state and without giving effect to the principles thereof
regarding the conflict of laws. Each of the parties consents to the jurisdiction
of the federal courts whose districts encompass any part of the County of New
York or the state courts of the State of New York sitting in the County of New
York in connection with any dispute arising under this Warrant and hereby
waives, to the maximum extent permitted by law, any objection, including any
objection based on FORUM NON CONVENIENS, to the bringing of any such proceeding
in such jurisdictions. To the extent determined by such court, the Company shall
reimburse the Holder for any reasonable legal fees and disbursements incurred by
the Holder in enforcement of or protection of any of its rights under any of the
Transaction Agreements.

                  12. JURY TRIAL WAIVER. The Company and the Holder hereby waive
a trial by jury in any action, proceeding or counterclaim brought by either of
the Parties hereto against the other in respect of any matter arising out or in
connection with this Warrant.

                  13. REMEDIES. The Company stipulates that the remedies at law
of the Holder of this Warrant in the event of any default or threatened default
by the Company in the performance of or compliance with any of the terms of this
Warrant are not and will not be adequate and that, to the fullest extent
permitted by law, such terms may be specifically enforced by a decree for the
specific performance of any agreement contained herein or by an injunction
against a violation of any of the terms hereof or otherwise.

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

                   [Balance of page intentionally left blank]

<PAGE>

                  15.DESCRIPTIVE HEADINGS. Descriptive headings of the several
Sections of this Warrant are inserted for convenience only and shall not control
or affect the meaning or construction of any of the provisions hereof.

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

Dated: _________________, 200__

                                     AMBIENT CORPORATION

                                     By: _______________________________

                                     -----------------------------------
                                     (Print Name)

                                     -----------------------------------
                                     (Title)

<PAGE>

                          NOTICE OF EXERCISE OF WARRANT

TO:      AMBIENT CORPORATION                                  VIA TELECOPIER TO:
         79 Chapel Street                                     (617) 332-7260
         Newton, Massachusetts 02458
         Attn: President

         The undersigned hereby irrevocably elects to exercise the right,
represented by the Common Stock Purchase Warrant Series 2006-__, dated as of
_____________________, 20___ , to purchase ___________ shares of the Common
Stock, $0.001 par value ("Common Stock"), of AMBIENT CORPORATION and tenders
herewith payment in accordance with Section 2 of said Common Stock Purchase
Warrant, as follows:

  CASH:    $                              =  (Exercise Price x Exercise Shares)
             --------------------------

           Payment is being made by:
                            enclosed check
                            wire transfer
                            other
                                  ---------------------------------------
  CASHLESS EXERCISE [if available pursuant to Section 2.1(b)]:

           Net number of Warrant Shares to be issued to Holder :      _________*

           * based on: CURRENT MARKET VALUE - (EXERCISE PRICE X EXERCISE SHARES)
                       ---------------------------------------------------------
                                             Market Price of Common Stock
           where:
           Market Price of Common Stock ["MP"]         =        $_______________
           Current Market Value [MP x Exercise Shares] =        $_______________

           It is the intention of the Holder to comply with the provisions of
Section 2.2 of the Warrant regarding certain limits on the Holder's right to
exercise thereunder. Based on the analysis on the attached Worksheet Schedule,
the Holder believes this exercise complies with the provisions of said Section
2.2. Nonetheless, to the extent that, pursuant to the exercise effected hereby,
the Holder would have more shares than permitted under said Section, this notice
should be amended and revised, ab initio, to refer to the exercise which would
result in the issuance of shares consistent with such provision. Any exercise
above such amount is hereby deemed void and revoked.

<PAGE>

         As contemplated by the Warrant, this Notice of Conversion is being sent
by facsimile to the telecopier number and officer indicated above.

         If this Notice of Exercise represents the full exercise of the
outstanding balance of the Warrant, the Holder either (1) has previously
surrendered the Warrant to the Company or (2) will surrender (or cause to be
surrendered) the Warrant to the Company at the address indicated above by
express courier within five (5) Trading Days after delivery or facsimile
transmission of this Notice of Exercise.

         The certificates representing the Warrant Shares should be transmitted
by the Company to the Holder

                 via express courier, or

                 by electronic transfer

after receipt of this Notice of Exercise (by facsimile transmission or
otherwise) to:

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

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

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

Dated: ______________________

----------------------------
[Name of Holder]

By: _________________________

<PAGE>

                          NOTICE OF EXERCISE OF WARRANT
                               WORKSHEET SCHEDULE

1. Current Common Stock holdings of Holder and Affiliates         _____________

2. Shares to be issued on current exercise                        _____________

3. Other shares to be issued on other current exercise(s) and
         other current conversion(s)(7)                           _____________

4. Other shares eligible to be acquired within next 60 days
         without restriction                                      _____________
5. Total [sum of Lines 1 through 4]                               _____________

6. Outstanding shares of Common Stock(8)                          _____________
7. Adjustments to Outstanding
         a. Shares known to Holder as previously issued
             to Holder or others but not included in Line 6       _____________
         b. Shares to be issued per Line(s) 2 and 3               _____________
         c. Total Adjustments [Lines 7a and 7b]                   _____________
8. Total Adjusted Outstanding [Lines 6 plus 7c]                   _____________

9. Holder's Percentage [Line 5 divided by Line 8]                 _____________%

[Note: Line 9 not to be above 4.99%]

_____________________________
(7)Includes shares issuable on conversion of convertible securities (including
assumed payment, if relevant, of interest or dividends) or exercise of other
rights, including other warrants or options
(8)Based on latest SEC filing by
Company or information provided by executive officer of Company, counsel to
Company or transfer agent

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