Document:

<PAGE>

Mr. David J. Selina
Cavion Technologies, Inc.
6446 South Kenton Street
Englewood, Colorado 80111

Dear Mr. Selina:

     Pursuant to our meeting on Tuesday, September 11, 2000, please accept this
letter as confirmation of our understanding that Baird, Patrick & Co., Inc.
("Baird, Patrick") has been engaged by Cavion Technologies, Inc. (the "Company")
to provide financial advisory services as Baird, Patrick and the Company may
agree upon from time to time.

1.   Baird, Patrick in its capacity as financial advisor to the Company, will
     perform such of the following advisory services as the Company may
     reasonably request:

     (a)  Familiarize itself to the extent it reasonably deems necessary,
          appropriate and feasible

     (b)  Identify and introduce the Company to broker-dealers interested in
          making markets in the Company's Common Stock and/or providing
          securities research on the Company;

     (c)  Advise and assist the Company in identifying, evaluating and
          implementing various financial options available to the Company in the
          private equity and debt markets, specifically as such options relate
          to debt or equity offerings ("Financing Transaction"). If the Company
          determines to undertake one or more Financing Transactions, Baird,
          Patrick will advise and assist the Company in considering the
          desirability of undertaking such Financial Transaction(s) and Baird,
          Patrick will be granted the right to act as placement agent in
          connection with any private sale of equity or debt securities. It
          being understood and agreed that nothing contained herein shall
          constitute a commitment by Baird, Patrick to purchase any securities.

     (d)  Identify and introduce the Company to institutional and retail
          investors;

     (e)  Advise and assist the Company in locating, identifying and evaluating
          potential acquisition candidates;

     (f)  Assist the Company in the preparation of any financial memorandum or
          similar document in connection with any Financing Transaction;

     (g)  Advise and assist the Company in restructuring, investing in, or
          spinning off any of its subsidiaries, if any;
<PAGE>

     (h)  Conduct fairness opinions when appropriate (under separate contract);
          and

     (i)  Render such other advisory services as may from time to time be agreed
          upon by Baird, Patrick and the Company, specifically as they may
          relate to any contemplated merger or acquisition.

2.   In connection with Baird, Patrick's services on the Company's behalf, the
     Company will cooperate with Baird, Patrick and will furnish Baird, Patrick
     with all information and data concerning the Company that Baird, Patrick
     reasonably believes appropriate to its assignment (all such information so
     furnished being the "Information") and will provide Baird, Patrick with
     reasonable access to the Company's officers, directors, employees,
     independent accountants, and legal counsel. The Company recognizes and
     confirms that Baird, Patrick (a) will use and rely primarily on the
     information and on information available from generally recognized public
     sources in performing the services contemplated by this Agreement, without
     having independently verified the same, (b) does not assume responsibility
     for the accuracy or completeness of the information and such other
     information and (c) will not make an independent appraisal of any of the
     Company's assets. The information being furnished by the Company, when
     delivered, will be, to the best of the Company's knowledge, true and
     correct in all material respects and will not contain any material
     misstatement of fact or omit to state any material fact necessary to make
     the statements contained therein misleading. The Company will promptly
     notify Baird, Patrick if it learns of any material inaccuracy or
     misstatement in, or material omission from, any information theretofore
     delivered to Baird, Patrick.

3.   Baird, Patrick's compensation for services to be rendered under this
     Agreement will include the following fees:

     (a)  Baird, Patrick shall be paid a monthly retainer in the amount of
          $7,500 paid in advance, through the life of this Agreement, with the
          first payment due upon the completion of any financing transaction;

     (b)  Baird, Patrick shall receive warrants to purchase 50,000 shares of the
          Company's common stock at a strike price of $4.50 and an expiration
          date of September 14, 2003. The warrants shall be delivered to Baird,
          Patrick immediately upon the execution of this Agreement; and be
          exercisable upon the completion of any financing transaction;

     (c)  In connection with any Financing Transaction, Baird, Patrick shall be
          paid a placement fee equal to 5% of the total gross proceeds raised by
          Baird, Patrick and a warrant package acceptable to the Company.
          Specific details of the compensation package for a Financing
          Transaction shall be provided in the Letter of Intent for such
          transaction;
<PAGE>

     (d)  Additionally, Baird, Patrick shall be paid a placement fee equal to 8%
          of the total gross proceeds raised by Baird, Patrick in connection
          with any financing transaction closed prior to October 15, 2000. This
          placement fee shall be paid directly to Baird, Patrick at closing.

4.   In addition to the fees described above, the Company agrees to reimburse
     Baird, Patrick, monthly in arrears, upon request from time to time, for
     reasonable out-of-pocket expenses incurred, not to exceed $2,500 per month
     (including reasonable fees and disbursements of counsel, and of other
     consultants and advisors retained by Baird, Patrick with Company's prior
     consent) in connection with Baird, Patrick's acting for the Company
     pursuant to this Agreement. Any expenses exceeding $500 per month shall be
     approved by the Company upon written request by Baird, Patrick prior to
     such expenditures being incurred. Baird, Patrick shall furnish to the
     Company reasonable evidence of any such expenditures incurred.

5.   The Company agrees to the indemnification and other agreements set forth in
     Schedule A attached hereto, the provisions of which are incorporated herein
     by reference and shall survive the termination or expiration of this
     Agreement.

6.   This Agreement and Baird, Patrick's engagement hereunder may be terminated
     by either party, with or without cause, upon thirty days prior written
     notice thereof to the other party, provided however that a) any termination
     of Baird, Patrick's engagement hereunder shall not affect the Company's
     obligation to pay the full fees provided for or referred to in paragraph 3
     hereof at the times and amounts specified therein, and b) any termination
     of Baird, Patrick's engagement hereunder shall not affect the Company's
     obligation to reimburse Baird, Patrick for any expenses incurred in the
     performance of its engagement prior to such termination.

7.   Baird, Patrick has been retained under this Agreement as an independent
     contractor with duties owed solely to the Company. The advice (oral or
     written) rendered by Baird, Patrick pursuant to this Agreement is intended
     solely for the benefit and use of the Company in considering such matters
     to which this Agreement relates, and such parties agree that such advice
     may not be relied upon by any other person, used for any other purpose or
     reproduced, disseminated, quoted or referred to at any time, in any manner
     or for any purpose, nor shall any public references to Baird, Patrick be
     made by the Company or the Company's Board of Directors without the prior
     written consent of Baird, Patrick. Baird, Patrick represents that it is a
     member in good standing of the National Association of Securities Dealers
     ("NASD") and that it will comply in all respects with the relevant NASD
     rules and regulations in connection with its duties and responsibilities
     under this Agreement.

8.   The Company agrees that Baird, Patrick shall have the right to place
     advertisements in financial and other newspapers and journals at its own
     expense describing its services hereunder, provided that Baird,
<PAGE>

     Patrick will submit a copy of any such advertisement to the Company for its
     review.

9.   The laws of the State of New York shall govern the validity and
     interpretation of this Agreement. This agreement and all controversies
     arising from or relating to performance under this agreement shall be
     governed by and construed in accordance with the laws of the State of New
     York, without giving effect to such state's rules concerning conflicts of
     law. The Company and Baird, Patrick hereby irrevocably consent to personal
     jurisdiction and venue in any court of the State of New York or any Federal
     Court sitting in New York for the purpose of any suit, action or other
     proceedings arising out of this Agreement or any of the Agreements or
     transactions contemplated hereby, which is brought by or against the
     Company or Baird, Patrick, and hereby agrees that all claims in respect of
     any such suit, action or proceeding may be heard and determined in any such
     court. The Company and Baird, Patrick each hereby irrevocably consent to
     the service process of any of the aforementioned courts in any such suit,
     action or proceeding by the mailing of copies thereof by registered or
     certified mail, postage prepaid, and return receipt requested, to the
     Company, and to Baird, Patrick and its counsel, Mr. Kenneth Sirlin, Kenneth
     Sirlin, P.C., 225 Broad Hollow Road, Melville, NY 11747 at the respective
     addresses set forth above, such service to become effective ten (10) days
     after such mailing. ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM OR
     ACTION ARISING OUT OF THIS AGREEMENT OR CONDUCT IN CONNECTION WITH THIS
     ENGAGEMENT IS HEREBY WAIVED.

10.  The benefits of this Agreement shall inure to the respective successors and
     assigns of the parties hereto and of the indemnified parties hereunder and
     their successors and assigns and representatives, and the obligations and
     liabilities assumed in this Agreement by the parties hereto shall be
     binding upon their respective successors and assigns.

11.  For the convenience of the parties hereto, the parties may execute any
     number of counterparts of this Agreement. Each such counterpart shall be,
     and shall be deemed to be, an original instrument, but all such
     counterparts taken together shall constitute one and the same Agreement.
     This Agreement may not be modified or amended except in writing signed by
     the parties hereto.

     We are pleased to accept this engagement and look forward to acting as
financial advisor to the Company. Please confirm that the foregoing is in
accordance with your understanding by signing and returning to us this Agreement
and the attached Indemnification Agreement, which shall thereupon constitute
binding Agreements between Baird, Patrick and the Company.

Very truly yours,

BAIRD, PATRICK & CO, INC.

<PAGE>

By:
   ------------------------
   Stuart K. Patrick
   President

Agreed to and Accepted:

CAVION TECHNOLOGIES, INC.

By: /s/ David J. Selina
   ------------------------
   David J. Selina
   President, Chief Executive Officer

TD:kp

                                   SCHEDULE A

September 18, 2000

Baird, Patrick & Co., Inc.
20 Exchange Place
11th Floor
New York, NY 10005

Ladies and Gentlemen:

     This letter agreement is entered into pursuant to the engagement letter
(the "Agreement"), dated September 14, 2000 between Cavion Technologies, Inc.
(the "Company") and Baird, Patrick, Inc ("Baird, Patrick"). Unless otherwise
noted, all capitalized terms used herein shall have the meanings set forth in
the Agreement.

     Since Baird, Patrick will be acting on behalf of the Company in connection
with the engagement contemplated by the Agreement, and as part of the
consideration for the agreement of Baird, Patrick to furnish its services
pursuant to such Agreement, the Company hereby agrees to indemnify and hold
harmless Baird, Patrick and its affiliates and their respective directors,
officers, partners, controlling persons (within the meaning of Section 15 of the
Securities Act of 1933 or Section 20 of the Securities Act of 1934), agents,
counsel and employees of Baird, Patrick or any of its affiliates (Baird, Patrick
and each such other person or
<PAGE>

entity being referred to individually as an "Indemnified Person" and,
collectively, as "Indemnified Persons") from and against any and all claims,
liabilities, losses, damages, penalties, judgements, awards and expenses
incurred by any Indemnified Person (including reasonable fees and disbursements
of counsel), which a) are related to or arise out of i) actions taken or omitted
to be taken (including any untrue statements made or alleged to have been made
or any statements omitted or alleged to have been omitted, whether in connection
with the information or any other oral or written statements) by the Company,
its affiliates, directors, employees or agents or ii) actions taken or omitted
to be taken by an Indemnified Person with the Company's consent or in conformity
with its instructions or its actions or omissions or b) are otherwise related to
or arise out of Baird, Patrick's activities on the Company's behalf in
connection with the engagement and will reimburse Baird, Patrick and any other
Indemnified Person for all costs and expenses and other reasonable counsel fees
and disbursements, as they are incurred, in connection with investigating,
preparing, and defending any action, formal or informal claim, investigation,
inquiry or other proceeding, whether or not in connection with pending or
threatened litigation, caused by or arising out of or in connection with Baird,
Patrick acting pursuant to the engagement, whether or not Baird, Patrick or any
Indemnified Person is named as a party thereto and whether or not any liability
results therefrom. The Company will not, however, be responsible for any claims,
liabilities, losses, damages or expenses pursuant to clause b) or the preceding
sentence which are finally judicially determined by a court of competent
jurisdiction (not subject to further review) to have resulted from Baird,
Patrick's willful misconduct on gross negligence. The Company also agrees that
neither Baird, Patrick nor any other Indemnified Person shall have any liability
to the Company for or in connection with such engagement except for any such
liability for claims, liabilities, losses, damages. or expenses incurred by the
Company, which is finally judicially determined to have resulted primarily form
Baird, Patrick's willful misconduct or gross negligence.

     In order to provide for just and equitable contribution, if a claim for
indemnification is made pursuant to these provisions but is found in a final
judgement by a court of competent jurisdiction (not subject to further appeal)
that such indemnification is not available for any reason even though the
express provisions hereof provide for indemnification in such case, then the
Company, on the one hand, and Baird, Patrick, on the other hand, shall
contribute to such claim, liability, loss, damage or expense for which such
indemnification or reimbursement is held unavailable in such proportion as is
appropriate to reflect the relative benefits to the Company, on the one hand,
and Baird, Patrick, on the other hand, in connection with the actions
contemplated by the engagement, subject to the limitation that in any event
Baird, Patrick's and all Indemnified Persons' aggregate contribution to all
losses, claims, damages, liabilities and expenses to which contribution is
available hereunder shall not exceed the amount of fees actually received by
Baird, Patrick pursuant to the Agreement.

     The foregoing right to indemnity and contribution shall be in addition to
any rights that Baird, Patrick or any other Indemnified
<PAGE>

Person may have at common low or otherwise and shall remain in full force and
effect following the completion or any termination of Baird, Patrick's
engagement hereunder. The Company hereby consents to personal jurisdiction and
to service and venue in any court in which any claim, which is subject to this
Agreement is brought against Baird, Patrick or any other Indemnified Person.
Neither termination nor completion of the engagement of Baird, Patrick referred
to above shall affect these provisions, which shall remain operative and in full
force and effect.

     This Agreement shall be governed by and construed in accordance with the
laws of the State of New York applicable to agreements made and to be fully
performed therein, without regard to conflicts of law principles.

     Please sign and return an original and one copy of this letter to the
undersigned to indicate your acceptance of the terms set forth herein, whereupon
this letter and your acceptance shall constitute a binding Agreement between the
Company and Baird, Patrick as of the date of the Agreement.

Sincerely,

CAVION TECHNOLOGIES, INC.

By: /s/ David J. Selina                                     Date: 9/20/2000
   ------------------------
   David J. Selina
   President, Chief Executive Officer

Agreed to and Accepted:

BAIRD, PATRICK & CO, INC.

By:
   ------------------------
   Stuart K. Patrick
   President<PAGE>

                                                                     EXHIBIT 4.1

                               STATE OF DELAWARE

                        OFFICE OF THE SECRETARY OF STATE

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

     I, EDWARD J. FREEL, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO
HEREBY CERTIFY THE ATTACHED IS A TRUE AND CORRECT COPY OF THE CERTIFICATE OF
DESIGNATION OF "MICROTEL INTERNATIONAL INC.", FILED IN THIS OFFICE ON THE
NINETEENTH DAY OF SEPTEMBER, A.D. 2000, AT 4:30 O'CLOCK P.M.

     A FILED COPY OF THIS CERTIFICATE HAS BEEN FORWARDED TO THE NEW CASTLE
COUNTY RECORDER OF DEEDS.

                                     [SEAL]

                                             /s/ EDWARD J. FREEL
                                             -----------------------------------
                                             Edward J. Freel, Secretary of State

                                                         AUTHENTICATION: 0685069

                                                                  DATE: 09-20-00

<PAGE>

                    CERTIFICATE OF DESIGNATIONS, PREFERENCES
                     AND RIGHTS OF SERIES B PREFERRED STOCK
                        OF MICROTEL INTERNATIONAL INC.,
                             A DELAWARE CORPORATION

     The undersigned, Carmine T. Oliva, hereby certifies that:

     A.  He is the duly elected and acting President of MicroTel International
Inc., a Delaware corporation (the "Corporation").

     B.  Pursuant to authority given by the corporation's Certificate of
Incorporation, and in accordance with the provisions of Section 151 of the
General Corporation Law of the State of Delaware, the Board of Directors of the
Corporation has duly adopted the following recitals and resolutions:

     WHEREAS, the Certificate of Incorporation of the Corporation provides for
two classes of shares known as Common Stock and Preferred Stock:

     WHEREAS, the Board of Directors of the Corporation is authorized by the
Certificate of Incorporation to provide for the issuance of the shares of
Preferred Stock in series, and by filing a certificate pursuant to the
applicable law of the State of Delaware, to establish from time to time the
number of shares to be included in each such series, and to fix the designation,
powers, preferences and rights of the shares of each such series and the
qualifications, limitations or restrictions thereof, and

     NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors deems it
advisable to adopt, and hereby does adopt, the Corporation's Certificate of
Designations, Preferences and Rights of Series B Preferred Stock of MicroTel
International, Inc., a Delaware corporation:

     A. DESIGNATION. A series of Preferred Stock, designated Series B Preferred
Stock, is hereby provided for, which shares shall have the rights, privileges
and preferences set forth below.

     B. AUTHORIZED NUMBER. The number of shares constituting the Series B
Preferred Stock shall be 150,000, par value .01 per share.

     C. DIVIDEND PROVISIONS. The holders of shares of Series B Preferred Stock
shall not be entitled to receive dividends.

     D. LIQUIDATION PREFERENCE.

          (a) In the event of any liquidation, dissolution or winding up of the
Corporation, either voluntary or involuntary, the holders of shares of Series B
Preferred Stock shall be entitled to receive, subject to prior preference and
distribution to holders of Series A Preferred Stock, but prior and in preference
to any distribution of any of the assets of this corporation to the holders of
the Common Stock by reason of their ownership, an amount per share equal to
$6.40 (the "Stated Value") for each outstanding share of Series B Preferred
Stock. If upon the occurrence of such

                                       1

<PAGE>

event, and following full payment of preferential amounts to holders of Series A
Preferred Stock, the assets and funds to thus be distributed among the holders
of the Series B Preferred Stock shall be insufficient to permit the payment to
such holders of the full aforesaid preferential amounts, then the entire assets
and funds of the corporation legally available for distribution shall be
distributed ratably among the holders of the Series B Preferred Stock on a
share-by-share basis in proportion to the aggregate preferential amounts of each
such series of Preferred Stock.

          (b) A consolidation or merger of the Corporation with or into any
other corporation or corporations, or a sale, conveyance or disposition of all
or substantially all of the assets of this corporation or the effectuation by
the Corporation of a transaction or series of related transactions in which more
than 50% of the voting power of the Corporation is disposed of, shall not be
deemed to be a liquidation, dissolution or winding up within the meaning of this
Section D but shall instead be treated pursuant to Section E hereto.

     E. CONVERSION. The holders of the Series B Preferred Shares shall have
conversion rights as follows (the "Conversion Rights"):

          (1)  CONVERSION RIGHTS.

               (i) Each Series B Preferred Share shall be convertible, at the
option of the holders of such shares, at the office of the Corporation or any
transfer agent for the Series B Preferred Shares, into ten (10) fully paid
and non-assessable Common Shares of the Corporation by the respective holders
thereof subject to the following limits:

     (a) Up to one-third (1/3) of the total number of a holder's Preferred
Shares, but not to exceed 50,000 Series B Preferred Shares converted by all
holders in the aggregate, on or after March 20, 2001;

     (b) Up to two-thirds (2/3) of the total number of a holder's Preferred
Shares, but not to exceed 100,000 Series B Preferred Shares converted by all
holders in the aggregate, on or after September 20, 2001;

     (c) All of a holder's Preferred Shares on or after March 20, 2002.

               (ii) In the event of a call for redemption of any Series B
Preferred Shares pursuant to Section F hereof, each holder of any Series B
Preferred Shares shall have the right to exercise the conversion rights set
forth in this Section E and the right to convert each share shall cease as to
the shares designated for redemption as of the close of business on the business
day immediately prior to the redemption date, unless default is made in payment
of the redemption price. If the Corporation has received a notice of conversion
with respect to any Series B Preferred Shares the Corporation may not redeem
such Series B Preferred Shares provided the Series B Preferred Shares are
delivered for conversion as set forth in Section E(2).

                                       2

<PAGE>

          (2) MECHANICS OF CONVERSION.

               (i) No fractional shares of Common Stock shall be issued upon
conversion of the Series B Preferred Shares. In lieu of any fractional share to
which the holder would otherwise be entitled, the Corporation shall round up to
the nearest whole share. In the case of a dispute as to the calculation of the
Conversion Rate, the Corporation's calculation shall be deemed conclusive absent
manifest error. In order to convert Series B Preferred Shares into full shares
of Common Stock, the holder shall surrender the certificate or certificates
therefor, duly endorsed, by either overnight courier or 2-day courier, to the
office of the Corporation for the Series B Preferred Shares, and shall give
written notice to the Corporation at such office that the holder elects to
convert the same, the number of shares of Series B Preferred Shares so converted
and a calculation of the Conversion Rate (with an advance copy of the
certificate(s) and the notice by facsimile); provided, however, that the
Corporation shall not be obligated to deliver certificates evidencing the shares
of Common Stock issuable upon such conversion unless certificates evidencing
such Series B Preferred Shares are delivered to the Corporation as provided
above, or the holder notifies the Corporation that such certificates have been
lost, stolen or destroyed and executes an agreement satisfactory to the
Corporation to indemnify the Corporation from any loss incurred by it in
connection with such certificates.

               (ii) The Corporation shall use reasonable efforts to cause to be
issued and delivered within two (2) business days after delivery to the
Corporation of such Series B Preferred Shares, or after such agreement and
indemnification, to such holder of Series B Preferred Shares at the address of
the holder on the stock books of the Corporation, a certificate or certificates
for the number of shares of Common Stock to which he shall be entitled as
aforesaid. The date on which notice of conversion is given (the "Date of
Conversion") shall be deemed to be the date set forth in such notice of
conversion provided the original Series B Preferred Shares to be converted are
received by the Corporation within five (5) business days thereafter and the
person or persons entitled to receive the shares of Common Stock issuable upon
such conversion shall be treated for all purposes as the record holder or
holders of such shares of Common Stock on such date. If the original Series B
Preferred Shares to be converted are not received by the Corporation within five
(5) business days after the Conversion, the notice of conversion shall become
null and void.

          (3) CONVERSION PRICE ADJUSTMENTS. The number of Common Shares issuable
upon conversion as set forth in Section E(1)(i) shall be appropriately adjusted
to reflect, as deemed equitable and appropriate by the Corporation, any stock
dividend, stock split or share combination of the Common Stock. In the event of
a merger, reorganization, recapitalization or similar event of or with respect
to the Corporation (a "Corporate Change") (other than a Corporate Change in
which all or substantially all of the consideration received by the holders of
the Company's equity securities upon such Corporate Change consists of cash or
assets other than securities issued by the acquiring entity or any affiliate
thereof), the Series B Preferred Shares shall be convertible into such class and
type of securities as the Holder would have received had the Holder converted
the Series B Preferred Shares immediately prior to such Corporate Change, as
appropriately adjusted to equitably reflect the conversion price and any stock
dividend, stock split or share combination of the common stock after such
corporate event.

                                       3

<PAGE>

     F.   REDEMPTION OF SERIES B PREFERRED SHARES.

          (1) OPTIONAL REDEMPTION. The Corporation may redeem all outstanding
and unconverted Series B Preferred Shares for cash at a per share price equal to
$7.36 (115% of the Stated Value) for each Series B Preferred Share by giving
written notice to Holder at least twenty (20) days in advance of such
redemption. Notwithstanding the above, the Corporation may not redeem the
Preferred Shares (i) unless there are sufficient authorized and reserved Common
Shares to permit conversion by the holders thereof within such twenty (20) day
period, or (ii) to the extent such Series B Preferred Shares are subject to a
lock-up. If the Corporation has received a notice of conversion with respect to
any Series B Preferred Shares, the Corporation may not redeem such Series B
Preferred Shares provided the Series B Preferred Shares are delivered for
conversion as set forth in Section E(2) during the notice period prior to the
redemption date as set forth in F(3)(ii) below.

          (2) MANNER OF REDEMPTION OF SERIES B PREFERRED SHARES.

               (i) If less than all of the outstanding Series B Preferred Shares
shall be called for redemption, the particular shares of such series to be
redeemed shall be selected by lot or by such other equitable manner as may be
prescribed by resolution of the Board of Directors.

               (ii) Notice of redemption of any Series B Preferred Shares shall
be given by the Corporation by fax or other written communication, at least
twenty (20) days prior to the date fixed by the Board of Directors of the
Corporation for redemption (herein called the "redemption date"), to the holders
of record of the shares to be redeemed at their respective addresses then
appearing on the records of the Corporation. The notice of the redemption shall
state:

                    (A) the redemption date,

                    (B) the redemption price (which must be paid within five (5)
business days after the date of redemption),

                    (C) whether the redemption is an optional redemption or a
mandatory redemption,

                    (D) if less than all outstanding Series B Preferred Shares
are to be redeemed, the identification of the Series B Preferred Shares to be
redeemed,

                    (E) the conversion rate on the date of the notice,

                    (F) that on the redemption date the redemption price will
become due and payable upon each Series B Preferred Shares to be redeemed and
the right to convert each share of Series B Preferred Share shall cease as of
the close of business on the business day prior to the redemption date, unless
default shall be made in the payment of the redemption price, and

                    (G) the place or places where such Series B Preferred Shares
to be redeemed are to be surrendered for payment of the redemption price.

                                       4

<PAGE>

          (3) FAILURE TO REDEEM. If the Corporation fails to pay the redemption
price after calling any Series B Preferred Shares for optional redemption under
Section F(1), the Corporation shall have no further right to redeem Series B
Preferred Shares under Section F(1).

          (4) REACQUIRED SHARES. Any shares of the Series B Preferred Stock
converted, redeemed or purchased or otherwise acquired by the Corporation in any
manner whatsoever shall be retired and cancelled promptly after the acquisition
thereof. All such shares shall upon their cancellation become authorized but
unissued shares of Series B Preferred Stock and may be reissued at the direction
of the Corporation subject to the conditions or restrictions on issuance set
forth herein.

     G. CORPORATE EVENTS. In the event of (i) any declaration by the Corporation
of a record date of the holders of any class of securities for the purpose of
determining the holders thereof who are entitled to receive any dividend (other
than cash dividend) or other distribution or (ii) any capital reorganization of
the Corporation, any reclassification or recapitalization of the capital stock
of the Corporation, any merger or consolidation of the Corporation, and any
transfer of all or substantially all of the assets of the Corporation to any
other Corporation, or any other entity or person, or any voluntary or
involuntary dissolution, liquidation or winding up of the Corporation, the
Corporation shall mail to each holder of Series B Preferred Shares at least
twenty (20) days prior to the record date specified therein, a notice specifying
(A) the date on which any such record is to be declared for the purpose of such
dividend or distribution and a description of such dividend or distribution, (B)
the date on which any such reorganization, reclassification, transfer,
consolidation, merger, dissolution, liquidation or winding up is expected to
become effective and (C) the time, if any, that is to be fixed, as to when the
holders of record of Common Stock (or other securities) will receive for
securities or other property deliverable upon such reorganization,
reclassification, transfer, consolidation, merger, dissolution or winding up.

     H. VOTING RIGHTS.

          (1) The Holders of the Series B Preferred Shares shall not have any
voting rights except as set forth below or as otherwise from time to time
required by law.

          (2) To the extent under Delaware law the vote of the holders of the
Series B Preferred Shares, voting separately as a class, is required to
authorize a given action of the Corporation, the affirmative vote or consent of
the holders of at least a majority of the outstanding Series B Preferred Shares
shall constitute the approval of such action by the class. To the extent that
under Delaware law the holders of the Series B Preferred Shares are entitled to
vote on a matter with holders of Common Stock voting together as one class, each
Series B Preferred Shares shall be entitled to a number of votes equal to the
number of shares of Common Stock into which it is then convertible using the
record date for the taking of such vote of stockholders as of the date of
determination. Holders of the Series B Preferred Shares shall be entitled to
notice of all shareholder meetings or written consents with respect to which
they would be entitled to vote, which notice provided pursuant to the
Corporation's bylaws and applicable statutes.

                                       5

<PAGE>

          (3) In the event that the authorized number of Common Shares of the
Corporation is not sufficient as of March 20, 2001 so as to permit for the
conversion of the Preferred Shares as provided in Section E hereof, each Series
B Preferred Share then outstanding shall become entitled to such number of votes
as would provide the aggregate number of Series B Preferred Shares then
outstanding voting rights equal to ten percent (10%) of the then outstanding
Common Stock of the Corporation for any matter upon which shareholders are
entitled to vote.

     I. PROTECTIVE PROVISIONS. So long as the Series B Preferred Shares are
outstanding, the Corporation shall not take any action that would impair the
rights of the holders of the Series B Preferred Shares set forth herein and
shall not without first obtaining the approval (by vote or written consent, as
provided by law) of the holders of at least a majority in aggregate principal
amount of the Series B Preferred Shares then outstanding:

          (1) Alter or change the rights, preferences or privileges of the
Series B Preferred Shares so as to affect adversely the Series B Preferred
Shares.

          (2) Do any act or thing which would result in taxation of the holders
of Series B Preferred Shares under Section 305 of the Internal Revenue Code of
1985, as amended (or any comparable provision of the Internal Revenue Code as
hereafter from time to time amended).

     IN WITNESS WHEREOF, the Corporation has caused this Certificate to be
signed by its authorized officer as of September 19, 2000.

                                  MICROTEL INTERNATIONAL INC.

                                  By:  /s/ Carmine T. Oliva
                                       ----------------------------------
                                       Carmine T. Oliva
                                       President and Chief Executive Officer

                                       6

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