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                                                                     EXHIBIT 4.5

                                                                    DRAFT 083000

THE REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF,
AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION
EXCEPT AS HEREIN PROVIDED.

NOT EXERCISABLE PRIOR TO THE LATER OF ___________, 2001 OR THE CONSUMMATION
OF A BUSINESS COMBINATION AS DEFINED HEREIN.  VOID AFTER 5:00 P.M. EASTERN
TIME, ___________, 2005.

                              UNIT PURCHASE OPTION

                               FOR THE PURCHASE OF

                                  ______  UNITS

                                       OF

                   UNITY EMERGING TECHNOLOGY VENTURE ONE LTD.

1.       PURCHASE OPTION.

                  THIS CERTIFIES THAT, in consideration of $100 duly paid by or
on behalf of ____________________ ("Holder"), as registered owner of this
Purchase Option, to Unity Emerging Technology Venture One Ltd. ("Company"),
Holder is entitled, at any time or from time to time, commencing on the later to
occur of ___________, 2001 or the consummation of a merger, exchange of capital
stock, asset acquisition or other similar business combination ("Business
Combination") ("Commencement Date"), and at or before 5:00 p.m., Eastern Time,
___________, 2005 ("Expiration Date"), but not thereafter, to subscribe for,
purchase and receive, in whole or in part, up to ___________________________
(______) units ("Units") of the Company, each Unit consisting of one
share of common stock of the Company, $.0001 par value per share ("Common
Stock"), and one Class A redeemable warrant ("Class A Warrant"). Each Class A
Warrant entitles the Holder of such warrant to purchase one share of Common
Stock and one Class B redeemable warrant ("Class B Warrant"). Each Class B
Warrant entitles the Holder of such warrant to purchase one share of Common
Stock and one Class C redeemable warrant ("Class C Warrant" and, together with
the Class A Warrants and the Class B Warrants, "Warrants"). Each Class C Warrant
entitles the Holder of such warrant to purchase one share of Common Stock. The
terms of the Class A Warrant, the Class B Warrant and the Class C Warrant are
identical to the respective terms of the Class A redeemable warrant, the Class B
redeemable warrant and the Class C redeemable warrant (collectively, the "Public
Warrants"), which have been registered for sale in connection with an offering
of Units to the public ("Offering") as more fully described in a registration
statement on Form S-1 [File No. 333-36754] ("Registration Statement"), except
that the expiration date of each of the Warrants is five years after the
effective date (the "Effective Date") of the Registration Statement. The terms
of the Public Warrants are fully described in that certain warrant agreement,
dated as of __________, 2000, between the Company and American Stock Transfer
& Trust Company. If the Expiration Date is a day on which banking institutions
are authorized by law to close, then this Purchase Option may be exercised on
the next succeeding day that is not such a day in accordance with the terms
herein. During the period ending on the Expiration Date, the

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Company agrees not to take any action that would terminate the Purchase Option.
This Purchase Option is initially exercisable at $6.60 per Unit so purchased;
provided, however, that upon the occurrence of any of the events specified in
Section 6 hereof, the rights granted by this Purchase Option, including the
exercise price per Unit and the number of Units (and shares of Common Stock and
Class A Warrants) to be received upon such exercise, shall be adjusted as
therein specified. The term "Exercise Price" shall mean the initial exercise
price or the adjusted exercise price, depending on the context.

2.       EXERCISE.

         2.1      EXERCISE FORM. In order to exercise this Purchase Option, the
exercise form attached hereto must be duly executed and completed and delivered
to the Company, together with this Purchase Option and payment of the Exercise
Price for the Units being purchased payable in cash. If the subscription rights
represented hereby shall not be exercised at or before 5:00 p.m., Eastern time,
on the Expiration Date, this Purchase Option shall become and be void without
further force or effect, and all rights represented hereby shall cease and
expire.

         2.2      LEGEND. Each certificate for the securities purchased under
this Purchase Option shall bear a legend as follows unless such securities have
been registered under the Securities Act of 1933 ("Act").

                  "The securities represented by this certificate have not been
                  registered under the Securities Act of 1933 ("Act") or
                  applicable state law. The securities may not be offered for
                  sale, sold or otherwise transferred except pursuant to an
                  effective registration statement under the Act, or pursuant to
                  an exemption from registration under the Act and applicable
                  state law."

         2.3      CONVERSION RIGHT.

                  2.3.1 DETERMINATION OF AMOUNT. In lieu of the payment of the
Exercise Price in cash as set forth in Section 2.1 hereof, the Holder shall have
the right (but not the obligation) to convert any exercisable but unexercised
portion of this Purchase Option into securities ("Conversion Right") as follows:
Upon exercise of the Conversion Right, the Company shall deliver to the Holder
(without payment by the Holder of any of the Exercise Price in cash) that number
of Units equal to the quotient obtained by dividing (x) the "Value" (as defined
below) of the portion of the Purchase Option being converted by (y) the "Market
Price" (as defined below). The "Value" of the portion of the Purchase Option
being converted shall equal the remainder derived from subtracting (a) the
Exercise Price multiplied by the number of Units underlying the portion of the
Purchase Option being converted from (b) the Market Price of the Units,
multiplied by the number of Units underlying the portion of the Purchase Option
being converted. As used herein, the term "Market Price" shall be deemed to be
the last reported sale price of the Units on the date prior to the date the
Conversion Right is exercised, or, in case no such reported sale takes place on
such day, the average of the last reported sale prices for the immediately
preceding three trading days, in either case as officially reported by the
principal securities exchange on which the Units are listed or admitted to
trading, or, if the Units are not listed or admitted to trading on any national
securities ex change or if any such exchange on which the Units are listed is
not their principal trading market, the last reported sale price as furnished by
the National Association of Securities Dealers, Inc. ("NASD") through the Nasdaq
National Market or SmallCap Market, or, if applicable, the OTC Bulletin Board,
or if the Units are not listed or admitted to trading on any of the foregoing
markets, or similar organization, as determined in good faith by resolution of
the Board of Directors of the

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Company, based on the best information available to it; provided, however, that
if the Units are no longer quoted on the principal trading market on which the
Common Stock and the Warrants are traded, the Market Price of the Units shall be
equal to the average last reported sale price of the Common Stock for the five
trading days immediately preceding such date ("Common Stock Price") plus the
average last reported sale price of the Class A Warrants, the average last
reported sale price of the Class B Warrants and the average last reported sale
price of the C Warrants, in each case for the five trading days preceding such
date, as quoted on the principal trading market for such securities determined
as described above; and provided further that if the Common Stock is traded but
the Warrants are not, the Market Price of the Units shall be equal to four times
the Common Stock Price less the sum of the then exercise prices of the Class A
Warrants, the Class B Warrants and the Class C Warrants.

                  2.3.2 EXERCISE OF CONVERSION RIGHT. The Conversion Right may
be exercised by the Holder on any business day on or after the Commencement Date
and not later than the Expiration Date by delivering to the Company this
Purchase Option with a duly executed exercise form attached hereto with the
conversion section completed.

         2.4      REDEMPTION OF WARRANTS. The Company may redeem the Warrants
only to the extent that the Purchase Option has been exercised and the Warrants
are outstanding. In the event that the Company has redeemed the Class A Warrants
included in the Units sold to the public before this Purchase Option has been
exercised in full ("Redemption Date"), then the Holder shall have a period of
seven business days following the exercise of any portion of this Purchase
Option after the Redemption Date to exercise the Class A Warrants issuable upon
the exercise of the Purchase Option and, to exercise the Class B Warrants
issuable upon exercise of the Class A Warrants and, to exercise the Class C
Warrants issuable upon exercise of the Class B Warrants. The Company shall
redeem such Warrants on the eighth business day following the exercise of the
Purchase Option if such Warrants have not been exercised during the seven-day
period.

3.       TRANSFER.

         3.1      GENERAL RESTRICTIONS. The registered Holder of this Purchase
Option, by its acceptance hereof, agrees that it will not sell, transfer or
assign or hypothecate this Purchase Option prior to the Commencement Date to
anyone other than (i) an officer or director of GBI Capital Partners Inc. ("GBI"
or the "Representative"), or of any broker-dealer that executed the Agreement
Among Underwriters with the Representative (each an "Underwriter" and together
with GBI, the "Underwriters") or of any broker-dealer that executed the Selected
Dealer Agreement with the Representative ("Selected Dealer") in connection with
the Offering, or (ii) any Underwriter or Selected Dealer. On and after the
Commencement Date, transfers to others may be made subject to compliance with or
exemptions from applicable securities laws. In order to make any permitted
assignment, the Holder must deliver to the Company the assignment form attached
hereto duly executed and completed, together with the Purchase Option and
payment of all transfer taxes, if any, payable in connection therewith. The
Company shall immediately transfer this Purchase Option on the books of the
Company and shall execute and deliver a new Purchase Option or Purchase Options
of like tenor to the appropriate assignee(s) expressly evidencing the right to
purchase the aggregate number of Units purchasable hereunder or such portion of
such number as shall be contemplated by any such assignment.

         3.2      RESTRICTIONS IMPOSED BY THE ACT. The securities underlying
this Purchase Option shall not be transferred unless and until (i) the Company
has received the opinion of counsel for the Holder that the securities may be
sold pursuant to an exemption from registration under the Act, the

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availability of which is established to the reasonable satisfaction of the
Company (the Company hereby agreeing that the opinion of Graubard Mollen &
Miller shall be deemed satisfactory evidence of the availability of an
exemption), or (ii) a registration statement or a post-effective amendment to
the Registration Statement relating to such securities has been filed by the
Company and declared effective by the Securities and Exchange Commission
("Commission").

4.       NEW PURCHASE OPTIONS TO BE ISSUED.

         4.1      PARTIAL EXERCISE, CONVERSION OR TRANSFER. Subject to the
restrictions in Section 3 hereof, this Purchase Option may be exercised,
converted or assigned in whole or in part. In the event of the exercise,
conversion or assignment hereof in part only, upon surrender of this Purchase
Option for cancellation, together with the duly executed exercise or assignment
form and funds (except in the case of conversion) sufficient to pay any Exercise
Price and/or transfer tax, the Company shall cause to be delivered to the Holder
without charge a new Purchase Option of like tenor to this Purchase Option in
the name of the Holder evidencing the right of the Holder to purchase the
aggregate number of Units purchasable hereunder as to which this Purchase Option
has not been exercised, converted or assigned.

         4.2      LOST CERTIFICATE. Upon receipt by the Company of evidence
satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Option and of reasonably satisfactory indemnification, the Company
shall execute and deliver a new Purchase Option of like tenor and date. Any such
new Purchase Option executed and delivered as a result of such loss, theft,
mutilation or destruction shall constitute an additional contractual obligation
on the part of the Company.

5.       REGISTRATION RIGHTS.

         5.1      DEMAND REGISTRATION.

                  5.1.1 GRANT OF RIGHT. The Company, upon written demand
("Initial Demand Notice") of the Holder(s) of at least 51% in the aggregate
("Majority Holders") of the securities underlying the Purchase Options,
including the Common Stock, the Warrants and the Common Stock underlying the
Warrants (collectively, the "Registrable Securities"), agrees to register, on
one occasion, all or any portion of the Registrable Securities requested by the
Majority Holders in the Initial Demand Notice. On such occasion, the Company
will file a registration statement or a post-effective amendment to the
Registration Statement covering the Registrable Securities within 60 days after
receipt of the Initial Demand Notice and use its best efforts to have such
registration statement or post-effective amendment declared effective as soon as
possible thereafter. If the Company willfully fails to comply with the
provisions of this Section 5.1.1, the Company shall, in addition to any other
equitable or other relief available to the Holder(s), be liable for any and all
incidental, special and consequential damages sustained by the Holder(s). The
demand for registration may be made at any time during a period of four years
beginning one year from the Effective Date. The Company covenants and agrees to
give written notice of its receipt of any Initial Demand Notice by any Holder(s)
to all other registered Holders of the Purchase Options and/or the Registrable
Securities within 10 days from the date of the receipt of any such Initial
Demand Notice.

                  5.1.2 TERMS. The Company shall bear all fees and expenses
attendant to registering the Registrable Securities, but the Holders shall pay
any and all underwriting commissions and the expenses of any legal counsel
selected by the Holders to represent them in connection with the sale of the
Registrable Securities. The Company agrees to use its reasonable

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best efforts to cause the filing required herein to become effective promptly
and to qualify or register the Registrable Securities in such States as are
reasonably requested by the Holder(s); provided, however, that in no event shall
the Company be required to register the Registrable Securities in a State in
which such registration would cause (i) the Company to be obligated to qualify
to do business in such State, or would subject the Company to taxation as a
foreign corporation doing business in such jurisdiction or (ii) the principal
stockholders of the Company to be obligated to escrow their shares of capital
stock of the Company. The Company shall cause any registration statement or
post-effective amendment filed pursuant to the demand rights granted under
Section 5.1.1 to remain effective for a period of nine consecutive months from
the effective date of such registration statement or post-effective amendment.

         5.2      "PIGGY-BACK" REGISTRATION.

                  5.2.1 GRANT OF RIGHT. In addition to the demand right of
registration, the Holders of the Purchase Options shall have the right at any
time commencing one year from the Effective Date and terminating on the seventh
anniversary of the Effective Date to include the Registrable Securities as part
of any other registration of securities filed by the Company (other than in
connection with a transaction contemplated by Rule 145(a) promulgated under the
Act or pursuant to Form S-8).

                  5.2.2 TERMS. The Company shall bear all fees and expenses
attendant to registering the Registrable Securities, but the Holders shall pay
any and all underwriting commissions and the expenses of any legal counsel
selected by the Holders to represent them in connection with the sale of the
Registrable Securities. In the event of such a proposed registration, the
Company shall furnish the then Holders of outstanding Registrable Securities
with not less than 15 days written notice prior to the proposed date of filing
of such registration statement. Such notice to the Holders shall continue to be
given for each applicable registration statement filed (during the period in
which the Purchase Option is exercisable) by the Company until such time as all
of the Registrable Securities have been registered and sold. The holders of the
Registrable Securities shall exercise the "piggyback" rights provided for herein
by giving written notice, within 10 days of the receipt of the Company's notice
of its intention to file a registration statement. The Company shall cause any
registration statement filed pursuant to the above "piggyback" rights to remain
effective for at least nine months from the date that the Holders of the
Registrable Securities are first given the opportunity to sell all of such
securities.

         5.3      GENERAL TERMS.

                  5.3.1 INDEMNIFICATION. The Company shall indemnify the
Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement filed in accordance with this Section 5 and each person, if any, who
controls such Holders within the meaning of Section 15 of the Act or Section
20(a) of the Securities Exchange Act of 1934, as amended ("Exchange Act"),
against all loss, claim, damage, expense or liability (including all reasonable
attorneys' fees and other expenses reasonably incurred in investigating,
preparing or defending against litigation, commenced or threatened, or any claim
whatsoever whether arising out of any action between the Underwriter and the
Company or between the Underwriter and any third party or otherwise) to which
any of them may become subject under the Act, the Exchange Act or otherwise,
arising from such registration statement but only to the same extent and with
the same effect as the provisions pursuant to which the Company has agreed to
indemnify the Underwriter contained in Section 5 of the Underwriting Agreement.
The Holder(s) of the Registrable Securities to be sold pursuant to

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such registration statement, and their successors and assigns, shall severally,
and not jointly, indemnify the Company against all loss, claim, damage, expense
or liability (including all reasonable attorneys' fees and other expenses
reasonably incurred in investigating, preparing or defending against any claim
whatsoever) to which they may become subject under the Act, the Exchange Act or
otherwise, arising from information furnished by or on behalf of such Holders,
or their successors or assigns, in writing, for specific inclusion in such
registration statement to the same extent and with the same effect as the
provisions contained in Section 5 of the Underwriting Agreement pursuant to
which the Underwriters have agreed to indemnify the Company.

                  5.3.2 EXERCISE OF WARRANTS. Nothing contained in this Purchase
Option shall be construed as requiring the Holder(s) to exercise their Purchase
Options or Warrants prior to or after the initial filing of any registration
statement or the effectiveness thereof.

                  5.3.3 DOCUMENTS DELIVERED TO HOLDERS. The Company shall
furnish GBI, as representative of the Holders participating in any of the
foregoing offerings, a signed counterpart, addressed to the participating
Holders, of (i) an opinion of counsel to the Company, dated the effective date
of such registration statement (and, if such registration includes an
underwritten public offering, an opinion dated the date of the closing under any
underwriting agreement related thereto), and (ii) a "cold comfort" letter dated
the effective date of such registration statement (and, if such registration
includes an underwritten public offering, a letter dated the date of the closing
under the underwriting agreement) signed by the independent public accountants
who have issued a report on the Company's financial statements included in such
registration statement, in each case covering substantially the same matters
with respect to such registration statement (and the prospectus included
therein) and, in the case of such accountants' letter, with respect to events
subsequent to the date of such financial statements, as are customarily covered
in opinions of issuer's counsel and in accountants' letters delivered to
underwriters in underwritten public offerings of securities. The Company shall
also deliver promptly to GBI, as representative of the Holders participating in
the offering, and to the managing underwriter the correspondence and memoranda
described below and copies of all correspondence between the Commission and the
Company, its counsel or auditors and all memoranda relating to discussions with
the Commission or its staff with respect to the registration statement and
permit GBI, as representative of the Holders, to do such investigation, upon
reasonable advance notice, with respect to information contained in or omitted
from the registration statement as it deems reasonably necessary to comply with
applicable securities laws or rules of the NASD. Such investigation shall
include access to books, records and properties and opportunities to discuss the
business of the Company with its officers and inde pendent auditors, all to such
reasonable extent and at such reasonable times and as often as GBI, as
representative of the Holders, shall reasonably request. The Company shall not
be required to disclose any confidential information or other records to GBI, as
representative of the Holders, or to any other person (i) until and unless such
persons shall have entered into reasonable confidentiality agreements (in form
and substance reasonably satisfactory to the Company, with the Company with
respect thereto and (ii) if such disclosure would be in violation of Regulation
FD promulgated under the Act.

                  5.3.4 UNDERWRITING AGREEMENT. The Company shall enter into an
underwriting agreement with the managing underwriter, if any, selected by any
Holders whose Registrable Securities are being registered pursuant to this
Section 5, which managing underwriter shall be reasonably acceptable to the
Company. Such agreement shall be reasonably satisfactory in form and substance
to the Company, each Holder and such underwriter, and shall contain such
representations, warranties and covenants by the Company and such other terms as
are customarily contained in agreements of that type used by the managing
underwriter. The Holders

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shall be parties to any underwriting agreement relating to an underwritten sale
of their Registrable Securities and may, at their option, require that any or
all the representations, warranties and covenants of the Company to or for the
benefit of such underwriter shall also be made to and for the benefit of such
Holders. Such Holders shall not be required to make any representations or
warranties to or agreements with the Company or the underwriter except as they
may relate to such Holders, their securities and their intended methods of
distribution. Such Holders, however, shall agree to such covenants and
indemnification and contribution obligations for selling stockholders as are
customarily contained in agreements of that type used by the managing
underwriter. Further, such Holders shall execute appropriate custody agreements
and otherwise cooperate fully in the preparation of the registration statement
and other documents relating to any offering in which they include securities
pursuant to this Section 5. Each Holder shall also furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the
intended method of disposition of such securities as shall be reasonably
required to effect the registration of the Registrable Securities.

                  5.3.5 RULE 144 SALE. Notwithstanding anything contained in
this Section 5 to the contrary, the Company shall have no obligation pursuant to
Sections 5.1 or 5.2 for the registration of Registrable Securities held by any
Holder (i) when such Holder would then be entitled to sell under Rule 144 within
any three-month period (or such other period prescribed under Rule 144 as may be
provided by amendment thereof) all of the Registrable Securities then held by
such Holder, and (ii) when the number of Registrable Securities held by such
Holder is within the volume limitations under paragraph (e) of Rule 144
(calculated as if such Holder were an affiliate within the meaning of Rule 144).

                  5.3.6 SUPPLEMENTAL PROSPECTUS. Each Holder agrees, that upon
receipt of any notice from the Company of the happening of any event as a result
of which the prospectus included in the Registration Statement, as then in
effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing, such Holder
will immediately discontinue disposition of Registrable Securities pursuant to
the Registration Statement covering such Registrable Securities until such
Holder's receipt of the copies of a supplemental or amended prospectus, and, if
so desired by the Company, such Holder shall deliver to the Company (at the
expense of the Company) or destroy (and deliver to the Company a certificate of
such destruction) all copies, other than permanent file copies then in such
Holder's possession, of the prospectus covering such Registrable Securities
current at the time of receipt of such notice.

6.       ADJUSTMENTS.

         6.1 ADJUSTMENTS TO EXERCISE PRICE AND NUMBER OF SECURITIES. The
Exercise Price and the number of Units underlying the Purchase Option shall be
subject to adjustment from time to time as hereinafter set forth:

                  6.1.1 STOCK DIVIDENDS - SPLIT-UPS. If after the date hereof,
and subject to the provisions of Section 6.3 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of
Common Stock or by a split-up, recapitalization or reclassification of shares of
Common Stock or other similar event, then, on the effective date thereof, the
number of Units issuable on exercise of the Purchase Option shall be increased
in proportion to such increase in outstanding shares.

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                  6.1.2 AGGREGATION OF SHARES. If after the date hereof, and
subject to the provisions of Section 6.3, the number of outstanding shares of
Common Stock is decreased by a consolidation, combination or reclassification of
shares of Common Stock or other similar event, then, on the effective date
thereof, the number of Units issuable on exercise of the Purchase Option shall
be decreased in proportion to such decrease in outstanding shares.

                  6.1.3 ADJUSTMENTS IN EXERCISE PRICE. Whenever the number of
Units purchasable upon exercise of this Purchase Option is adjusted, as provided
in this Section 6.1, the Exercise Price shall be adjusted (to the nearest cent)
by multiplying such Exercise Price immediately prior to such adjustment by a
fraction (x) the numerator of which shall be the number of Units purchasable
upon the exercise of this Purchase Option immediately prior to such adjustment,
and (y) the denominator of which shall be the number of Units so purchasable
immediately thereafter.

                  6.1.4 REORGANIZATIONS, ETC. If after the date hereof, any
capital reorganization or reclassification of the Common Stock of the Company,
or consolidation or merger of the Company with another corporation, or the sale
of all or substantially all of its assets to another corporation or other
similar event shall be effected, then, as a condition of such reorganization,
reclassification, consolidation, merger, or sale, lawful and fair provision
shall be made whereby the Holders shall thereafter have the right to purchase
and receive, upon the basis and upon the terms and conditions specified in the
Purchase Option and in lieu of the Units immediately theretofore purchasable and
receivable upon the exercise of the rights represented thereby, such shares of
stock, securities, or assets as may be issued or payable with respect to or in
exchange for the number of securities equal to the number of Units immediately
theretofore purchasable and receivable upon the exercise of the rights
represented by the Purchase Option, had such reorganization, reclassification,
consolidation, merger, or sale not taken place and in such event, appropriate
provision shall be made with respect to the rights and interests of the Holders
to the end that the provisions hereof (including, without limitation, provisions
for adjustments of the Exercise Price and of the number of Units purchasable
upon the exercise of the Purchase Option) shall thereafter be applicable, as
nearly as may be, to any share of stock, securities, or assets thereafter
deliverable upon the exercise hereof. The Company shall not effect any such
consolidation, merger, or sale unless, prior to the consummation thereof, the
successor corporation (if other than the Company) resulting from such
consolidation or merger, or the corporation purchasing such assets, shall
assume, by written instrument executed and delivered to the Holders its
obligation to deliver such shares of stock, securities, or assets which, in
accordance with the foregoing provisions, such Holders may be entitled to
purchase.

                  6.1.5 CHANGES IN FORM OF PURCHASE OPTION. This form of
Purchase Option need not be changed because of any change pursuant to this
Section, and Purchase Options issued after such change may state the same
Exercise Price and the same number of Units as are stated in the Purchase
Options initially issued pursuant to this Agreement. The acceptance by any
Holder of the issuance of new Purchase Options reflecting a required or
permissive change shall not be deemed to waive any rights to an adjustment
occurring after the Commencement Date or the computation thereof.

         6.2      SUBSTITUTE PURCHASE OPTION. In case of any consolidation of
the Company with, or merger of the Company with, or merger of the Company into,
another corporation (other than a consolidation or merger that does not result
in any reclassification or change of the outstanding Common Stock), the
corporation formed by such consolidation or merger shall execute and deliver to
the Holder a supplemental Purchase Option providing that the holder of each
Purchase Option then outstanding or to be outstanding shall have the right
thereafter (until the stated expiration of

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such Purchase Option) to receive, upon exercise of such Purchase Option, the
kind and amount of shares of stock and other securities and property receivable
upon such consolidation or merger, by a holder of the number of shares of Common
Stock of the Company for which such Purchase Option might have been exercised
immediately prior to such consolidation, merger, sale or transfer. Such
supplemental Purchase Option shall provide for adjustments that shall be
identical to the adjustments provided in Section 6. The above provision of this
Section shall similarly apply to successive consolidations or mergers.

         6.3      ELIMINATION OF FRACTIONAL INTERESTS. The Company shall not be
required to issue certificates representing fractions of shares of Common Stock
or Class A Warrants upon the exercise of the Purchase Option, nor shall it be
required to issue scrip or pay cash in lieu of any fractional interests, it
being the intent of the parties that all fractional interests shall be
eliminated by rounding any fraction up to the nearest whole number of Class A
Warrants, shares of Common Stock or other securities, properties or rights.

7.       RESERVATION AND LISTING. The Company shall at all times reserve and
keep available out of its authorized shares of Common Stock, solely for the
purpose of issuance upon exercise of the Purchase Options or the Warrants, such
number of shares of Common Stock or other securities, properties or rights as
shall be issuable upon the exercise thereof. The Company covenants and agrees
that, upon exercise of the Purchase Options and payment of the Exercise Price
therefor, all shares of Common Stock and other securities issuable upon such
exercise shall be duly and validly issued, fully paid and non-assessable and not
subject to preemptive rights of any stockholder. The Company further covenants
and agrees that upon exercise of the Warrants and payment of the respective
Warrant exercise price therefor, all shares of Common Stock and other securities
issuable upon such exercises shall be duly and validly issued, fully paid and
non-assessable and not subject to preemptive rights of any stockholder. As long
as the Purchase Options shall be outstanding, the Company shall use its best
efforts to cause all Registrable Securities to be listed (subject to official
notice of issuance) on all securities exchanges (or, if applicable on the Nasdaq
National Market or SmallCap Market) on which the Common Stock or the Public
Warrants issued to the public in connection herewith may then be listed and/or
quoted.

8.       CERTAIN NOTICE REQUIREMENTS.

         8.1      HOLDER'S RIGHT TO RECEIVE NOTICE. Nothing herein shall be
construed as conferring upon the Holders the right to vote or consent or to
receive notice as a stockholder for the election of directors or any other
matter, or as having any rights whatsoever as a stockholder of the Company. If,
however, at any time prior to the expiration of the Purchase Options and their
exercise, any of the events described in Section 8.2 shall occur, then, in one
or more of said events, the Company shall give written notice of such event at
least fifteen days prior to the date fixed as a record date or the date of
closing the transfer books for the determination of the stockholders entitled to
such dividend, distribution, conversion or exchange of securities or
subscription rights, or entitled to vote on such proposed dissolution,
liquidation, winding up or sale. Such notice shall specify such record date or
the date of the closing of the transfer books, as the case may be.

         8.2      EVENTS REQUIRING NOTICE. The Company shall be required to give
the notice described in this Section 8 upon one or more of the following events:
(i) if the Company shall take a record of the holders of its shares of Common
Stock for the purpose of entitling them to receive a dividend or distribution
payable otherwise than in cash, or a cash dividend or distribution payable
otherwise than out of retained earnings, as indicated by the accounting
treatment of such dividend

                                       9
<PAGE>

or distribution on the books of the Company, or (ii) the Company shall offer to
all the holders of its Common Stock any additional shares of capital stock of
the Company or securities convertible into or exchangeable for shares of capital
stock of the Company, or any option, right or warrant to subscribe therefor, or
(iii) a dissolution, liquidation or winding up of the Company (other than in
connection with a consolidation or merger) or a sale of all or substantially all
of its property, assets and business shall be proposed.

         8.3      NOTICE OF CHANGE IN EXERCISE PRICE. The Company shall,
promptly after an event requiring a change in the Exercise Price pursuant to
Section 6 hereof, send notice to the Holders of such event and change ("Price
Notice"). The Price Notice shall describe the event causing the change and the
method of calculating same and shall be certified as being true and accurate by
the Company's President and Chief Financial Officer.

         8.4      TRANSMITTAL OF NOTICES. All notices, requests, consents and
other communications under this Purchase Option shall be in writing and shall be
deemed to have been duly made when hand delivered, or mailed by express mail or
overnight courier service: (i) if to the registered Holder of the Purchase
Option, to the address of such Holder as shown on the books of the Company, or
(ii) if to the Company, to following address or to such other address as the
Company may designate by notice to the Holders:

                           Unity Emerging Technology Venture One Ltd.
                           245 Fifth Avenue, Suite 1600
                           New York, New York 10016
                           Attn:  Lawrence Burstein, President

9.       MISCELLANEOUS.

         9.1      AMENDMENTS. The Company and GBI may from time to time
supplement or amend this Purchase Option without the approval of any of the
Holders in order to cure any ambiguity, to correct or supplement any provision
contained herein which may be defective or inconsistent with any other
provisions herein, or to make any other provisions in regard to matters or
questions arising hereunder which the Company and GBI may deem necessary or
desirable and which the Company and GBI deem shall not adversely affect the
interest of the Holders. All other modifications or amendments shall require the
written consent of and be signed by the party against whom enforcement of the
modification or amendment is sought.

         9.2      HEADINGS. The headings contained herein are for the sole
purpose of convenience of reference, and shall not in any way limit or affect
the meaning or interpretation of any of the terms or provisions of this Purchase
Option.

         9.3      ENTIRE AGREEMENT. This Purchase Option (together with the
other agreements and documents being delivered pursuant to or in connection with
this Purchase Option) constitutes the entire agreement of the parties hereto
with respect to the subject matter hereof, and supersedes all prior agreements
and understandings of the parties, oral and written, with respect to the subject
matter hereof.

         9.4      BINDING EFFECT. This Purchase Option shall inure solely to the
benefit of and shall be binding upon, the Holder and the Company and their
permitted assignees, respective successors, legal representative and assigns,
and no other person shall have or be construed to have any legal

                                       10
<PAGE>

or equitable right, remedy or claim under or in respect of or by virtue of this
Purchase Option or any provisions herein contained.

         9.5      GOVERNING LAW; SUBMISSION TO JURISDICTION. This Purchase
Option shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of laws. The
Company hereby agrees that any action, proceeding or claim against it arising
out of, or relating in any way to this Purchase Option shall be brought and
enforced in the courts of the State of New York or of the United States of
America for the Southern District of New York, and irrevocably submits to such
jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives
any objection to such exclusive jurisdiction and that such courts represent an
inconvenient forum. Any process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return
receipt requested, postage prepaid, addressed to it at the address set forth in
Section 8 hereof. Such mailing shall be deemed personal service and shall be
legal and binding upon the Company in any action, proceeding or claim. The
Company and the Holder agree that the prevailing party(ies) in any such action
shall be entitled to recover form the other party(ies) all of its reasonable
attorneys' fees and expenses relating to such action or proceeding and/or
incurred in connection with the preparation therefor.

         9.6      WAIVER, ETC. The failure of the Company or the Holder to at
any time enforce any of the provisions of this Purchase Option shall not be
deemed or construed to be a waiver of any such provision, nor to in any way
affect the validity of this Purchase Option or any provision hereof or the right
of the Company or any Holder to thereafter enforce each and every provision of
this Purchase Option. No waiver of any breach, non-compliance or non-fulfillment
of any of the provisions of this Purchase Option shall be effective unless set
forth in a written instrument executed by the party or parties against whom or
which enforcement of such waiver is sought; and no waiver of any such breach,
non-compliance or non-fulfillment shall be construed or deemed to be a waiver of
any other or subsequent breach, non-compliance or non-fulfillment.

         9.7      EXECUTION IN COUNTERPARTS. This Purchase Option may be
executed in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which shall be deemed to be an original, but all
of which taken together shall constitute one and the same agreement, and shall
become effective when one or more counterparts has been signed by each of the
parties hereto and delivered to each of the other parties hereto.

         9.8      EXCHANGE AGREEMENTS. As a condition of Holder's receipt and
acceptance of this Purchase Option,

                  (a) if GBI designated Holder to receive the Purchase Option,
Holder agrees that, at any time prior to the complete exercise of this Purchase
Option by Holder, if the Company and GBI enter into an agreement ("GBI Exchange
Agreement") pursuant to which they agree that all outstanding Purchase Options
held by GBI and/or designees of GBI will be exchanged for securities or cash or
a combination of both, then Holder shall agree to such exchange and become a
party to the GBI Exchange Agreement; and

                  (b) if GKN Securities Corp. ("GKN") designated Holder to
receive the Purchase Option, Holder agrees that, at any time prior to the
complete exercise of this Purchase Option by Holder, if the Company and GKN
enter into an agreement ("GKN Exchange Agreement") pursuant to which they agree
that all outstanding Purchase Options held by GKN and/or designees of GKN will
be exchanged for securities or cash or a combination of both, then Holder shall
agree to such exchange and become a party to the GKN Exchange Agreement.

                                       11
<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Purchase
Option to be signed by its duly authorized officer as of the ____ day of
________, 2000.

                               UNITY EMERGING TECHNOLOGY VENTURE ONE LTD.

                               By: ____________________________
                                   Lawrence Burstein
                                   President

                                       12
<PAGE>

Form to be used to exercise Purchase Option:

Unity Emerging Technology Venture One Ltd.
245 Fifth Avenue, Suite 1500
New York, New York 10016
Attn:  Lawrence Burstein, President

Date:_________________, ____

                  The undersigned hereby elects irrevocably to exercise the
within Purchase Option and to purchase ____ Units of Unity Emerging Technology
Venture One Ltd. and hereby makes payment of $____________ (at the rate of
$_________ per Unit) in payment of the Exercise Price pursuant thereto. Please
issue the Common Stock and Class A Warrants as to which this Purchase Option is
exercised in accordance with the instructions given below.

                                       OR

                  The undersigned hereby elects irrevocably to convert _________
of the Units purchasable under the within Purchase Option into _________ shares
of Common Stock and ________ Class A Warrants of Unity Emerging Technology
Venture One Ltd. (based on a "Market Price" of $___________). Please issue the
Common Stock and Class A Warrants in accordance with the instructions given
below.

                                                  ______________________________
                                                  Signature

                                                  ______________________________
                                                  Print Name

                   INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name _____________________________________________________________
                            (Print in Block Letters)

Address __________________________________________________________

                  NOTICE: THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE
NAME AS WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR
WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.

<PAGE>

Form to be used to assign Purchase Option:

                                   ASSIGNMENT

                  (To be executed by the registered Holder to effect a transfer
of the within Purchase Option):

                  FOR VALUE RECEIVED,___________________________________________
does hereby sell, assign and transfer unto______________________________________
the right to purchase __________ Units of Unity Emerging Technology Venture One
Ltd. ("Company") evidenced by the within Purchase Option and does hereby
authorize the Company to transfer such right on the books of the Company.

Dated: ___________________, ____

                                                  ______________________________
                                                  Signature

                                                  ______________________________
                                                  Print Name

                  NOTICE: THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE
NAME AS WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR
WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.<PAGE>

                                                                     Exhibit 4.6

                                WARRANT AGREEMENT

         Agreement made as of ___________, 2000, between Unity Emerging
Technology Venture One Ltd., a Delaware corporation, with offices at 245 Fifth
Avenue, Suite 1600, New York, New York 10016 ("Company"), and American Stock
Transfer & Trust Company, a New York corporation, with offices at 40 Wall
Street, New York, New York 10005 (herein called "Warrant Agent").

         WHEREAS, the Company has issued or has determined to issue up to (i)
1,437,500 redeemable Class A Warrants ("Class A Warrants"), (ii) 1,437,500
redeemable Class B Warrants ("Class B Warrants"), (iii) 1,437,500 redeemable
Class C Warrants ("Class C Warrants," together with the Class A Warrants and
Class B Warrants, the "Public Warrants"), (iv) 150,000 non-redeemable Class A
Warrants, 150,000 non-redeemable Class B Warrants and 150,000 non-redeemable
Class C Warrants to the directors of the Company (together, "Directors'
Warrants") and (v) 125,000 Class A Warrants, 125,000 Class B Warrants and
125,000 Class C Warrants (together, "Representative's Warrants," together with
the Public Warrants, "Redeemable Warrants," and the Redeemable Warrants together
with the Directors' Warrants, "Warrants") issued or issuable upon exercise of
the Representative's Purchase Option ("Purchase Option") to GBI Capital Partners
Inc., the representative of the underwriters for the Company's initial public
offering ("Representative"), or its designees, evidencing the right of the
holders thereof to purchase an aggregate of 5,137,500 shares of common stock of
the Company, $.0001 par value per share ("Common Stock"), which Warrants have
been issued or will be issued as described in the Company's Registration
Statement on Form S-1, Registration No. 333-36754, declared effective
__________, 2000 ("Registration Statement"); and

         WHEREAS, the Company desires the Warrant Agent to act on behalf of the
Company, and the Warrant Agent is willing to so act, in connection with the
issuance, registration, transfer, exchange, redemption and exercise of the
Warrants; and

         WHEREAS, the Company desires to provide for the form and provisions of
the Warrants, the terms upon which they shall be issued and exercised, and the
respective rights, limitation of rights, and immunities of the Company, the
Warrant Agent, and the holders of the Warrants; and
<PAGE>

         WHEREAS, all acts and things have been done and performed which are
necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the
valid, binding and legal obligations of the Company, and to authorize the
execution and delivery of this Agreement.

         NOW, THEREFORE, in consideration of the mutual agreements herein
contained, the parties hereto agree as follows:

1. APPOINTMENT OF WARRANT AGENT. The Company hereby appoints the Warrant Agent
to act as agent for the Company for the Warrants, and the Warrant Agent hereby
accepts such appointment and agrees to perform the same in accordance with the
terms and conditions set forth in this Agreement.

2. WARRANTS.

         2.1. FORM OF WARRANT. Each Class A Warrant, Class B Warrant and Class C
Warrant, respectively, shall be issued in registered form only, shall be in
substantially the forms of Exhibit A, Exhibit B and Exhibit C hereto, shall be
signed by, or bear the facsimile signature of, the Chairman of the Board or
President and Secretary or Assistant Secretary of the Company and shall bear a
facsimile of the Company's seal. In the event the person whose facsimile
signature has been placed upon any Warrant shall have ceased to serve in the
capacity in which such person signed the Warrant before such Warrant is issued,
it may be issued with the same effect as if he had not ceased to be such at the
date of issuance. No Warrant may be exercised until it has been countersigned by
the Warrant Agent as provided in Section 2.3 hereof.

         2.2. EFFECT OF COUNTERSIGNATURE. Unless and until countersigned by the
Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no
effect.

         2.3. EVENTS FOR COUNTERSIGNATURE. The Warrant Agent shall countersign a
Warrant only upon the occurrence of either of the following events:

                  (i) if the Warrant is to be issued in exchange or substitution
for one or more previously countersigned Warrants, as hereinafter provided; or

                  (ii) if the Company instructs the Warrant Agent to do so.

                                      -2-
<PAGE>

         2.4. REGISTRATION.

                  2.4.1. WARRANT REGISTER. The Warrant Agent shall maintain
books ("Warrant Register") for the registration of original issuance and the
registration of transfer of the Warrants. Upon the initial issuance of the
Warrants, the Warrant Agent shall issue and register the Warrants in the names
of the respective holders thereof in such denominations and otherwise in
accordance with instructions delivered to the Warrant Agent by the Company.

                  2.4.2. REGISTERED HOLDER. Prior to due presentment for
registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant shall be registered upon
the Warrant Register ("registered holder") as the absolute owner of such Warrant
and of each Warrant represented thereby (notwithstanding any notation of
ownership or other writing on the Warrant Certificate made by anyone other than
the Company or the Warrant Agent), for the purpose of any exercise thereof, and
for all other purposes, and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary.

         2.5. DETACHABILITY OF CLASS A WARRANTS. The Class A Warrants and Common
Stock which comprise the units ("Units") as described in the Registration
Statement will not trade separately until the 90th day after the effective date
of the Registration Statement unless the Representative informs the Company of
the Representative's decision to allow earlier separate trading. In no event,
however, can the Class A Warrants and Common Stock be traded separately until
the Company files with the Securities and Exchange Commission an audited balance
sheet reflecting the Company's receipt of the proceeds of the initial public
offering described in the Registration Statement.

3. TERMS AND EXERCISE OF PUBLIC WARRANTS.

         3.1. WARRANT PRICE. Each Class A Warrant shall, when countersigned by
the Warrant Agent, entitle the registered holder thereof, subject to the
provisions of such Warrant and of this Warrant Agreement, to purchase from the
Company, at a price of $5.25, one share of Common Stock and one Class B Warrant,
subject to the adjustments provided in Section 4 hereof. Each Class B Warrant
shall, when countersigned by the Warrant Agent, entitle the registered holder

                                      -3-
<PAGE>

thereof, subject to the provisions of such Warrant and of this Warrant
Agreement, to purchase from the Company, at a price of $7.50, one share of
Common Stock and one Class C Warrant, subject to the adjustments provided in
Section 4 hereof. Each Class C Warrant shall, when countersigned by the Warrant
Agent, entitle the registered holder thereof, subject to the provisions of such
Warrant and of this Warrant Agreement, to purchase from the Company, at a price
of $9.75, one share of Common Stock, subject to the adjustments provided in
Section 4 hereof. The term "Warrant Price" as used in this Warrant Agreement
refers to the price per share at which Common Stock may be purchased at the time
a Warrant is exercised.

         3.2. DURATION OF WARRANTS. A Warrant may be exercised only during the
period ("Exercise Period") commencing on the later of the consummation by the
Company of a business combination as described in the Registration Statement or
_________, 2001, and terminating on the earlier to occur of (i) _________, 2006
or (ii) the date fixed for redemption of such Warrant as provided in Section 6
of this Agreement, except that the Representative's Warrants shall expire on
_________, 2005 (the "Expiration Date"). Each Warrant not exercised on or before
the Expiration Date shall become void, and all rights thereunder and all rights
in respect thereof under this Agreement shall cease at the close of business on
the Expiration Date. The Company in its sole discretion may extend the duration
of the Warrants (except the Representative's Warrants) by delaying the
Expiration Date.

         3.3. EXERCISE OF WARRANTS.

                  3.3.1. PAYMENT. A Warrant, when countersigned by the Warrant
Agent, may be exercised by the registered holder thereof by surrendering it, at
the office of the Warrant Agent, or at the office of its successor as Warrant
Agent, in the Borough of Manhattan, City and State of New York, with the
subscription form, as set forth in the Warrant and in substantially the forms of
Exhibit A, Exhibit B and Exhibit C hereto, duly executed, and by paying in full,
in lawful money of the United States, in cash, good certified check or good bank
draft payable to the order of the Company, the Warrant Price for each full share
of Common Stock as to which the Warrant is exercised and any and all applicable
taxes due in connection with the exercise of the Warrant, the exchange of the
Warrant for the Common Stock, and the issuance of the Common Stock.

                                      -4-
<PAGE>

                  3.3.2. ISSUANCE OF CERTIFICATES. As soon as practicable after
the exercise of any Class A Warrant, the Company shall issue to the registered
holder of such Class A Warrant a certificate or certificates for the number of
full shares of Common Stock and full Class B Warrants to which such registered
holder is entitled, registered in such name or names as may be directed by the
registered holder, and if such Class A Warrant shall not have been exercised in
full, a new countersigned Class A Warrant for the number of shares of Common
Stock and the number of Class B Warrants as to which such Class A Warrant shall
not have been exercised. As soon as practicable after the exercise of any Class
B Warrant, the Company shall issue to the registered holder of such Class B
Warrant a certificate or certificates for the number of full shares of Common
Stock and full Class C Warrants to which such registered holder is entitled,
registered in such name or names as may be directed by the registered holder,
and if such Class B Warrant shall not have been exercised in full, a new
countersigned Class B Warrant for the number of shares of Common Stock and the
number of Class C Warrants as to which such Class B Warrant shall not have been
exercised. As soon as practicable after the exercise of any Class C Warrant, the
Company shall issue to the registered holder of such Class C Warrant a
certificate or certificates for the number of full shares of Common Stock to
which such registered holder is entitled, registered in such name or names as
may be directed by the registered holder, and if such Class C Warrant shall not
have been exercised in full, a new countersigned Class C Warrant for the number
of shares of Common Stock as to which such Class C Warrant shall not have been
exercised. Notwithstanding the foregoing, the Company shall not be obligated to
deliver any securities pursuant to the exercise of a Warrant unless a
registration statement under the Securities Act of 1933, with respect to the
securities is then currently effective. Warrants may not be exercised by, or
securities issued to, any registered holder in any state in which such exercise
would be unlawful.

                  3.3.3. VALID ISSUANCE. All shares of Common Stock, all Class B
Warrants and all Class C Warrants issued upon the proper exercise of a Warrant
in conformity with this Agreement shall be validly issued.

                  3.3.4. DATE OF ISSUANCE. Each person in whose name any such
certificate for shares of Common Stock is issued and any such certificate for
Warrants is issued shall for all purposes be deemed to have become the holder of
record of such shares and Warrants on the date

                                      -5-
<PAGE>

on which the Warrant was surrendered and payment of the Warrant Price was made,
irrespective of the date of delivery of such certificates, except that, if the
date of such surrender and payment is a date when the stock transfer books of
the Company are closed, such person shall be deemed to have become the holder of
such shares and Warrants at the close of business on the next succeeding date on
which the stock transfer books are open.

                  3.3.5. WARRANT SOLICITATION FEE.

                           (a) The Company has engaged the Representative as the
exclusive agent for the solicitation of the exercise of the Warrants in
accordance with the rules and regulations of the National Association of
Securities Dealers, Inc. The Company has also agreed to (i) assist the
Representative with respect to such solicitation, if requested by the
Representative, and (ii) at the Representative's request, provide the
Representative and direct the Company's transfer and warrant agent to deliver to
the Representative, at the Company's cost, lists of the record and, to the
extent known, beneficial owners of the Company's Warrants. Accordingly, the
Company hereby instructs the Warrant Agent to cooperate with the Representative
in every respect in connection with the Representative's solicitation
activities, including but not limited to providing to the Representative, at the
Company's cost, a list of record and beneficial holders of the Warrants.

                           (b) If, upon the exercise of any Warrant (i) the
market price of the Company's Common Stock is greater than the then Warrant
Price, (ii) the exercise of the Warrant was solicited by the Representative, and
(iii) the Warrant was not held in a discretionary account, then the Warrant
Agent, simultaneously with the distribution of proceeds to the Company received
upon exercise of the Warrant(s) so exercised, shall, on behalf of the Company,
pay from the proceeds received upon exercise of the Warrant(s), a fee of 5% of
the Warrant Price to the Representative. The Representative and the Company may
at any time during business hours, examine the records of the Warrant Agent,
including its ledger of original Warrants certificates returned to the Warrant
Agent upon exercise of Warrants.

                           (c) The provisions of this Section 3.3.5 may not be
modified, amended or deleted without the prior written consent of the
Representative.

                                      -6-
<PAGE>

                  3.3.6. DIRECTORS' WARRANTS. In connection with certain
services to be performed for the Company, the Company issued, in _______ 2000,
150,000 Class A warrants, which are identical to the Class A Warrants covered by
this Agreement except that they are non-redeemable.

                  3.3.7. REPRESENTATIVE'S WARRANTS. In connection with its
services as Representative, the Company has issued to the Representative or its
designees the Purchase Option. The Representative's Warrants, which will be
issued or will be issuable upon exercise of the Purchase Option, are identical
to the Public Warrants covered by this Agreement except that they have cashless
exercise rights and will expire on ___________, 2005.

4. ADJUSTMENTS.

         4.1. STOCK DIVIDENDS - SPLIT-UPS. If after the date hereof, and subject
to the provisions of Section 4.5 hereof, the number of outstanding shares of
Common Stock is increased by a stock dividend payable in shares of Common Stock
or by a split-up of shares of Common Stock or other similar event, then, on the
effective day thereof, the number of shares issuable on exercise of each Warrant
shall be increased in proportion to such increase in outstanding shares and the
then applicable Warrant Price shall be correspondingly decreased; provided that
no adjustment shall be made for the number of Class B Warrants issuable on
exercise of each Class A Warrant and no adjustment shall be made for the number
of Class C Warrants issuable on exercise of each Class B Warrant.

         4.2. AGGREGATION OF SHARES. If after the date hereof, and subject to
the provisions of Section 4.5 hereof, the number of outstanding shares of Common
Stock is decreased by a consolidation, combination or reclassification of shares
of Common Stock or other similar event, then, after the effective date of such
consolidation, combination or reclassification, the number of shares issuable on
exercise of each Warrant shall be decreased in proportion to such decrease in
outstanding shares and the then applicable Warrant Price shall be
correspondingly increased; provided that no adjustment shall be made for the
number of Class B Warrants issuable on exercise of each Class A Warrant and no
adjustment shall be made for the number of Class C Warrants issuable on exercise
of each Class B Warrant.

                                      -7-
<PAGE>

         4.3. REORGANIZATION, ETC. If after the date hereof any capital
reorganization or reclassification of the Common Stock of the Company, or
consolidation or merger of the Company with another corporation, or the sale of
all or substantially all of its assets to another corporation or other similar
event shall be effected, then, as a condition of such reorganization,
reclassification, consolidation, merger, or sale, lawful and fair provision
shall be made whereby the Warrant holders shall thereafter have the right to
purchase and receive, upon the basis and upon the terms and conditions specified
in the Warrants and in lieu of the securities of the Company immediately
theretofore purchasable and receivable upon the exercise of the rights
represented thereby, such shares of stock, securities or assets as may be issued
or payable with respect to or in exchange for the number of outstanding shares
of such Common Stock equal to the number of shares of Common Stock and number of
Warrants immediately theretofore purchasable and receivable upon the exercise of
the rights represented by the Warrants, had such reorganization,
reclassification, consolidation, merger, or sale not taken place and in such
event appropriate provision shall be made with respect to the rights and
interests of the Warrant holders to the end that the provisions hereof
(including, without limitation, provisions for adjustments of the Warrant Price
and of the number of shares of Common Stock purchasable upon the exercise of the
Warrants) shall thereafter be applicable, as nearly as may be in relation to any
share of stock, securities or assets thereafter deliverable upon the exercise
hereof. The Company shall not effect any such consolidation, merger, or sale
unless prior to the consummation thereof the successor corporation (if other
than the Company) resulting from such consolidation or merger, or the
corporation purchasing such assets, shall assume by written instrument executed
and delivered to the Warrant Agent the obligation to deliver to the Warrant
holders such shares of stock, securities or assets as, in accordance with the
foregoing provisions, such holders may be entitled to purchase.

         4.4. NOTICES OF CHANGES IN WARRANT. Upon every adjustment of the
Warrant Price or the number of shares of Common Stock issuable on exercise of a
Warrant, the Company shall give written notice thereof to the Warrant Agent,
which notice shall state the Warrant Price resulting from such adjustment and
the increase or decrease, if any, in the number of shares of Common Stock
purchasable at such price upon the exercise of a Warrant, setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based. Upon the occurrence of any event specified in Sections
4.1, 4.2, or 4.3, the Company shall give

                                      -8-
<PAGE>

written notice in the manner set forth above of the record date for such
dividend, distribution, or subscription rights, or the effective date of such
reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation, winding up or issuance. Such notice shall also specify the date as
of which the holders of Common Stock of record shall participate in such
dividend, distribution, or subscription rights, or shall be entitled to exchange
their Common Stock for stock, securities or other assets deliverable upon such
reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation, winding up or issuance. Failure to give such notice, or any defect
therein, shall not affect the legality or validity of such event.

         4.5. NO FRACTIONAL SHARES. Notwithstanding any provision contained in
this Warrant Agreement to the contrary, the Company shall not issue fractional
shares upon exercise of Warrants. If, by reason of any adjustment made pursuant
to this Section 4, the holder of any Warrant would be entitled, upon the
exercise of such Warrant, to receive a fractional interest in a share, the
Company shall, upon such exercise, purchase such fractional interest, determined
as follows:

                  (i) If the Common Stock is listed on a national securities
exchange or admitted to unlisted trading privileges on such exchange or listed
for trading on The Nasdaq National Market or The Nasdaq SmallCap Market or the
OTC Bulletin Board, the current value shall be the last reported sale price of
the Common Stock on such exchange on the last business day prior to the date of
exercise of such Warrant or if no such sale is made on such day, the average of
the closing bid and asked prices for such day on such exchange; or

                  (ii) If the Common Stock is not listed or admitted to unlisted
trading privileges, the current value shall be the mean of the last reported bid
and asked prices reported by the National Quotation Bureau, Inc. on the last
business day prior to the date of the exercise of such Warrant; or

                  (iii) If the Common Stock is not so listed or admitted to
unlisted trading privileges and bid and asked prices are not so reported, the
current value shall be an amount determined in such reasonable manner as may be
prescribed by the Board of Directors of the Company.

                                      -9-
<PAGE>

         4.6. FORM OF WARRANT. The form of Warrant need not be changed because
of any adjustment pursuant to this Section 4, and Warrants issued after such
adjustment may state the same Warrant Price and the same number of shares as is
stated in the Warrants initially issued pursuant to this Agreement. However, the
Company may at any time in its sole discretion make any change in the form of
Warrant that the Company may deem appropriate and that does not affect the
substance thereof, and any Warrant thereafter issued or countersigned, whether
in exchange or substitution for an outstanding Warrant or otherwise, may be in
the form as so changed.

5. TRANSFER AND EXCHANGE OF WARRANTS.

         5.1. REGISTRATION OF TRANSFER. The Warrant Agent shall register the
transfer, from time to time, of any outstanding Warrant upon the Warrant
Register, upon surrender of such Warrant for transfer, properly endorsed with
signatures properly guaranteed and accompanied by appropriate instructions for
transfer. Upon any such transfer, a new Warrant representing an equal aggregate
number of Warrants shall be issued and the old Warrant shall be cancelled by the
Warrant Agent. The Warrant so cancelled shall be delivered by the Warrant Agent
to the Company from time to time upon request.

         5.2. PROCEDURE FOR SURRENDER OF WARRANTS. Warrants may be surrendered
to the Warrant Agent, together with a written request for exchange or transfer,
and thereupon the Warrant Agent shall issue in exchange therefor one or more new
Warrants as requested by the registered holder of the Warrants so surrendered,
representing an equal aggregate number of Warrants; provided, however, that in
the event that a Warrant surrendered for transfer bears a restrictive legend,
the Warrant Agent shall not cancel such Warrant and issue new Warrants in
exchange therefor until the Warrant Agent has received an opinion of counsel for
the Company stating that such transfer may be made and indicating whether the
new Warrants must also bear a restrictive legend.

         5.3. FRACTIONAL WARRANTS. The Warrant Agent shall not be required to
effect any registration of transfer or exchange which will result in the
issuance of a warrant certificate for a fraction of a warrant.

                                      -10-
<PAGE>

         5.4. SERVICE CHARGES. No service charge shall be made for any exchange
or registration of transfer of Warrants.

         5.5. WARRANT EXECUTION AND COUNTERSIGNATURE. The Warrant Agent is
hereby authorized to countersign and to deliver, in accordance with the terms of
this Agreement, the Warrants required to be issued pursuant to the provisions
hereof, and the Company, whenever required by the Warrant Agent, will supply the
Warrant Agent with Warrants duly executed on behalf of the Company for such
purpose.

6. REDEMPTION.

         6.1. REDEMPTION. Subject to Section 3.3.6 hereof, each of the
outstanding Redeemable Warrants may be redeemed, at the option of the Company,
as a whole and not in part, after they become exercisable and prior to their
expiration, at the office of the Warrant Agent, upon the notice referred to in
Section 6.2 hereof, at the price of $.05 per Redeemable Warrant ("Redemption
Price"), provided that the last sale price of the Common Stock equals or exceeds
$8.50 per share with respect to the Class A Warrants, $10.50 per share with
respect to the Class B Warrants and $12.00 per share with respect to the Class C
Warrants on each of the twenty (20) consecutive trading days ending on the third
day prior to the date on which notice of redemption is given. Notwithstanding
the foregoing, the Company may not call the Redeemable Warrants for redemption
without the Representative's prior consent. In the event that the Company has
redeemed the outstanding Redeemable Warrants before the Purchase Option has been
exercised in full ("Redemption Date"), then the Representative shall have a
period of seven business days following the exercise of any portion of the
Purchase Option after the Redemption Date to exercise the Class A Warrants
issuable upon the exercise of the Purchase Option, to exercise the Class B
Warrants issuable upon the exercise of the Class A Warrants and to exercise the
Class C Warrants issuable upon the exercise of the Class B Warrants. The Company
shall then redeem such Redeemable Warrants on the eighth business day following
the exercise of the Purchase Option, if such Warrants have not been exercised
during the seven-day period. The provisions of this Section 6.1 may not be
modified, amended or deleted without the prior written consent of the
Representative.

                                      -11-
<PAGE>

         6.2. DATE FIXED FOR, AND NOTICE OF, REDEMPTION. In the event the
Company shall elect to redeem the Redeemable Warrants, the Company shall fix a
date for the redemption. Notice of redemption shall be mailed by first class
mail, postage prepaid, by the Company not less than 30 days prior to the date
fixed for redemption to the registered holders of the Warrants to be redeemed at
their last address as they shall appear on the registration books. Any notice
mailed in the manner herein provided shall be conclusively presumed to have been
duly given whether or not the registered holder received such notice.

         6.3. EXERCISE AFTER NOTICE OF REDEMPTION. The Redeemable Warrants may
be exercised in accordance with Section 3 of this Agreement at any time after
notice of redemption shall have been given by the Company pursuant to Section
6.2 hereof and prior to the time and date fixed for redemption. On and after the
redemption date, the record holder of the Redeemable Warrants shall have no
further rights except to receive, upon surrender of the Redeemable Warrants, the
redemption price.

7. OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF WARRANTS.

         7.1. NO RIGHTS AS STOCKHOLDER. A Warrant does not entitle the
registered holder thereof to any of the rights of a stockholder of the Company,
including, without limitation, the right to receive dividends or other
distributions, to exercise any preemptive rights, or to vote, to consent or to
receive notice as stockholders in respect of the meetings of stockholders or the
election of directors of the Company or any other matter.

         7.2. LOST, STOLEN, MUTILATED, OR DESTROYED WARRANTS. If any Warrant is
lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on
such terms as to indemnity or otherwise as they may in their discretion impose
(which shall, in the case of a mutilated Warrant, include the surrender
thereof), issue a new Warrant of like denomination, tenor, and date as the
Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall
constitute a substitute contractual obligation of the Company, whether or not
the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time
enforceable by anyone.

                                      -12-
<PAGE>

         7.3. RESERVATION OF COMMON STOCK. The Company shall at all times
reserve and keep available a number of its authorized but unissued shares of
Common Stock that will be sufficient to permit the exercise in full of all
outstanding Warrants issued pursuant to this Agreement.

         7.4. REGISTRATION STATEMENT. The Company has filed with the Securities
and Exchange Commission the Registration Statement for the registration, under
the Securities Act of 1933, of, among others, the Warrants and the Common Stock
issuable upon exercise of the Warrants.

         7.5. REGISTRATION OF COMMON STOCK. The Company agrees that prior to the
commencement of the Exercise Period, it shall file with the Securities and
Exchange Commission a post-effective amendment to the Registration Statement, or
a new registration statement, for the registration, under the Securities Act of
1933, of the Common Stock issuable upon exercise of the Warrants. In either
case, the Company will use its best efforts to cause the same to become
effective and to maintain the effectiveness of such registration statement until
the expiration of the Warrants in accordance with the provisions of this
Agreement. In connection with the filing of such registration statement, the
Company shall disclose in such amendment or new registration statement the
warrant solicitation fee payable to the Representative.

8. CONCERNING THE WARRANT AGENT AND OTHER MATTERS.

         8.1. PAYMENT OF TAXES. The Company will from time to time promptly pay
all taxes and charges that may be imposed upon the Company or the Warrant Agent
in respect of the issuance or delivery of shares of Common Stock and Warrants
upon the exercise of Warrants, but the Company shall not be obligated to pay any
transfer taxes in respect of the Warrants or such shares.

         8.2. RESIGNATION, CONSOLIDATION, OR MERGER OF WARRANT AGENT.

                  8.2.1. APPOINTMENT OF SUCCESSOR WARRANT AGENT. The Warrant
Agent, or any successor to it hereafter appointed, may resign its duties and be
discharged from all further duties and liabilities hereunder after giving sixty
(60) days' notice in writing to the Company. If the office of the Warrant Agent
becomes vacant by resignation or incapacity to act or otherwise, the Company
shall appoint in writing a successor Warrant Agent in place of the Warrant
Agent. If

                                      -13-
<PAGE>

the Company shall fail to make such appointment within a period of 30 days after
it has been notified in writing of such resignation or incapacity by the Warrant
Agent or by the holder of the Warrant (who shall, with such notice, submit his
Warrant for inspection by the Company), then the holder of any Warrant may apply
to the Supreme Court of the State of New York for the County of New York for the
appointment of a successor Warrant Agent. Any successor Warrant Agent, whether
appointed by the Company or by such court, shall be a corporation organized and
existing or qualified to do business under the laws of the State of New York, in
good standing and having its principal office in the Borough of Manhattan, City
and State of New York, and authorized under such laws to exercise corporate
trust powers and subject to supervision or examination by federal or state
authority. After appointment, any successor Warrant Agent shall be vested with
all the authority, powers, rights, immunities, duties, and obligations of its
predecessor Warrant Agent with like effect as if originally named as Warrant
Agent hereunder, without any further act or deed; but if for any reason it
becomes necessary or appropriate, the predecessor Warrant Agent shall execute
and deliver, at the expense of the Company, an instrument transferring to such
successor Warrant Agent all the authority, powers, and rights of such
predecessor Warrant Agent hereunder; and upon request of any successor Warrant
Agent the Company shall make, execute, acknowledge, and deliver any and all
instruments in writing for more fully and effectually vesting in and confirming
to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations.

                  8.2.2. NOTICE OF SUCCESSOR WARRANT AGENT. In the event a
successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the transfer agent for the Common
Stock not later than the effective date of any such appointment.

                  8.2.3. MERGER OR CONSOLIDATION OF WARRANT AGENT. Any
corporation into which the Warrant Agent may be merged or with which it may be
consolidated or any corporation resulting from any merger or consolidation to
which the Warrant Agent shall be a party shall be the successor Warrant Agent
under this Agreement without any further act.

                                      -14-
<PAGE>

         8.3. FEES AND EXPENSES OF WARRANT AGENT.

                  8.3.1. REMUNERATION. The Company agrees to pay the Warrant
Agent reasonable remuneration for its services as such Warrant Agent hereunder
and will reimburse the Warrant Agent upon demand for all expenditures that the
Warrant Agent may reasonably incur in the execution of its duties hereunder.

                  8.3.2. FURTHER ASSURANCES. The Company and the Warrant Agent
agree to perform, execute, acknowledge, and deliver or cause to be performed,
executed, acknowledged, and delivered all such further and other acts,
instruments, and assurances as may reasonably be required by the Warrant Agent
or the Company for the carrying out or performing of the provisions of this
Agreement.

         8.4. LIABILITY OF WARRANT AGENT.

                  8.4.1. RELIANCE ON COMPANY STATEMENT. Whenever in the
performance of its duties under this Warrant Agreement, the Warrant Agent shall
deem it necessary or desirable that any fact or matter be proved or established
by the Company prior to taking or suffering any action hereunder, such fact or
matter (unless other evidence in respect thereof be herein specifically
prescribed) may be deemed to be conclusively proved and established by a
statement signed by the President of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or
suffered in good faith by it pursuant to the provisions of this Agreement.

                  8.4.2. INDEMNITY. The Warrant Agent shall be liable hereunder
only for its own negligence or willful misconduct or any actions taken in bad
faith. The Company agrees to indemnify the Warrant Agent and save it harmless
against any and all liabilities, including judgments, costs and reasonable
counsel fees, for anything done or omitted by the Warrant Agent in the execution
of this Agreement except as a result of the Warrant Agent's negligence, willful
misconduct, or bad faith.

                  8.4.3. EXCLUSIONS. The Warrant Agent shall have no
responsibility with respect to the validity of this Agreement or with respect to
the validity or execution of any Warrant (except its countersignature thereof);
nor shall it be responsible for any breach by the Company

                                      -15-
<PAGE>

of any covenant or condition contained in this Agreement or in any Warrant; nor
shall it be responsible to make any adjustments required under the provisions of
Section 4 hereof or responsible for the manner, method, or amount of any such
adjustment or the ascertaining of the existence of facts that would require any
such adjustment; nor shall it by any act hereunder be deemed to make any
representation or warranty as to the authorization or reservation of any shares
of Common Stock to be issued pursuant to this Agreement or any Warrant or as to
whether any shares of Common Stock will when issued be valid and fully paid and
nonassessable.

         8.5. ACCEPTANCE OF AGENCY. The Warrant Agent hereby accepts the agency
established by this Agreement and agrees to perform the same upon the terms and
conditions herein set forth and among other things, shall account promptly to
the Company with respect to Warrants exercised and concurrently account for, and
pay to the Company, all moneys received by the Warrant Agent for the purchase of
shares of the Company's Common Stock through the exercise of Warrants.

9. MISCELLANEOUS PROVISIONS.

         9.1. SUCCESSORS. All the covenants and provisions of this Agreement by
or for the benefit of the Company or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns.

         9.2. NOTICES. Any notice, statement or demand authorized by this
Warrant Agreement to be given or made by the Warrant Agent or by the holder of
any Warrant to or by the Company shall be sufficiently given or made if sent by
certified mail, or private courier service, postage prepaid, addressed (until
another address is filed in writing by the Company with the Warrant Agent), as
follows:

                           Unity Emerging Technology Venture One Ltd.
                           245 Fifth Avenue, Suite 1600
                           New York, New York 10016
                           Attn: Lawrence Burstein, President

with a copy to:

                                      -16-
<PAGE>

                           Sonnenschein Nath & Rosenthal
                           1221 Avenue of the Americas
                           New York, New York 10020
                           Attn: Ira I. Roxland, Esq.

                                    - and -

                           Graubard Mollen & Miller
                           600 Third Avenue
                           New York, New York 10016
                           Attn: David Alan Miller, Esq.

Any notice, statement or demand authorized by this Agreement to be given or made
by the holder of any Warrant or by the Company to or on the Warrant Agent shall
be sufficiently given or made if sent by certified mail or private courier
service, postage prepaid, addressed (until another address is filed in writing
by the Warrant Agent with the Company), as follows:

                           American Stock Transfer & Trust Company
                           40 Wall Street
                           New York, New York 10006
                           Attn:  Compliance Department

         9.3. APPLICABLE LAW. The validity, interpretation, and performance of
this Agreement and of the Warrants shall be governed in all respects by the laws
of the State of New York, without giving effect to conflict of laws. Each of the
Company and the Warrant Agent hereby agrees that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be
brought and enforced in the courts of the State of New York of the United States
of America for the Southern District of New York, and irrevocably submits to
such jurisdiction, which jurisdiction shall be exclusive. Each of the Company
and the Warrant Agent hereby waives any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum. Any such process or
summons to be served upon the Company or the Warrant Agent may be served by
transmitting a copy thereof by registered or certified mail,

                                      -17-
<PAGE>

return receipt requested, postage prepaid, addressed to it at the address set
forth in Section 9.2 hereof. Such mailing shall be deemed personal service and
shall be legal and binding upon each of the Company and the Warrant Agent in any
action, proceeding or claim. Each of the Company and the Warrant Agent agrees
that the prevailing party(ies) in any such action shall be entitled to recover
from the other party(ies) all of its reasonable attorneys' fees and expenses
relating to such action or proceeding and/or incurred in connection with the
preparation therefor.

         9.4. PERSONS HAVING RIGHTS UNDER THIS AGREEMENT. Nothing in this
Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any
person or corporation other than the parties hereto and the registered holders
of the Warrants and, for the purposes of Sections 3.3.5 and 6.1 hereof, the
Representative, any right, remedy, or claim under or by reason of this Warrant
Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. All covenants, conditions, stipulations, promises, and agreements
contained in this Warrant Agreement shall be for the sole and exclusive benefit
of the parties hereto and their successors and assigns and of the registered
holders of the Warrants. The parties hereto agree that the Representative is
intended to be a third-party beneficiary with respect to Sections 3.3.5 and 6.1,
with all legal rights and remedies available to it as fully as if it were a
party hereto.

         9.5. EXAMINATION OF THE WARRANT AGREEMENT. A copy of this Agreement
shall be available at all reasonable times at the office of the Warrant Agent in
the Borough of Manhattan, City and State of New York, for inspection by the
registered holder of any Warrant. The Warrant Agent may require any such holder
to submit his Warrant for inspection by it.

         9.6. COUNTERPARTS. This Agreement 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.

         9.7. EFFECT OF HEADINGS. The Section headings herein are for
convenience only and are not part of this Warrant Agreement and shall not affect
the interpretation thereof.

                                      -18-
<PAGE>

         IN WITNESS WHEREOF, this Agreement has been duly executed by the
parties hereto under their respective corporate seals as of the day and year
first above written.

Attest:                               UNITY EMERGING TECHNOLOGY VENTURE ONE LTD.

                                      By:
------------------------                 ---------------------------------------
                                         Lawrence Burstein
                                         President

Corporate Seal

Attest:                               AMERICAN STOCK TRANSFER & TRUST COMPANY

                                      By:
------------------------                 ---------------------------------------
                                         George Karfunkel
                                         Executive Vice President

                                      -19-
<PAGE>

                                    EXHIBIT A

                             FORM OF CLASS A WARRANT

                                      -20-
<PAGE>

                                    EXHIBIT B

                             FORM OF CLASS B WARRANT

                                      -21-
<PAGE>

                                    EXHIBIT C

                             FORM OF CLASS C WARRANT

                                      -22-

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