Document:

Prepared and filed by St Ives Burrups

 EXHIBIT
  4.6

	 	 	 	 
	 	VOID
      AFTER 5:00 P.M., NEW YORK CITY

      TIME, ON MAY 16, 2008

      (UNLESS EXTENDED PURSUANT TO SECTION 2 HEREOF)  	 
	 	 	 	 
	 	 	 	 
	 	THIS
      WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR
      ANY OTHER JURISDICTION. THE SECURITIES REPRESENTED HEREBY MAY NOT BE OFFERED,
      SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
      FOR THE SECURITIES UNDER APPLICABLE SECURITIES LAWS UNLESS OFFERED, SOLD
      OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THOSE LAWS.  	 
	 	 	 	 
	 	 	Right
      to Purchase 350,000 Shares of	 
	 	 	  Common
      Stock, par value $.001 per share  	 

Date: May 16,
  2003

 
  ORCHID BIOSCIENCES, INC.

  STOCK PURCHASE WARRANT 

     THIS CERTIFIES THAT, for value received, Punk, Ziegel & Company, L.P., or its registered assigns, is entitled to purchase from Orchid BioSciences, Inc., a corporation organized under the laws of the State of Delaware (the “Company”), at any time or from time to time during the period specified in Section 2 hereof, Three Hundred Fifty Thousand (350,000) fully paid and nonassessable shares of the Company’s common stock, par value $.001 per share (the “Common Stock”), at an exercise price per share (the “Exercise Price”) equal to $.45 per share. The number of shares of Common Stock purchasable hereunder (the “Warrant Shares”) and the Exercise Price are subject to adjustment as provided in Section 4 hereof. The term “Warrant” means this Warrant. 

     
  This Warrant is subject to the following terms, provisions and conditions:

     
  1.   Manner of Exercise; Issuance of Certificates; Payment
  for Shares. Subject to the provisions hereof, including, without limitation,
  the limitations contained in Section 7 hereof, this Warrant may be exercised
  by the holder hereof, in whole or in part, by the surrender of this Warrant,
  together with a completed exercise agreement in the form attached hereto (the
  “Exercise Agreement”), to the Company during normal business hours
  on any business day at the Company’s principal executive offices (or such
  other office or agency of the Company as it may designate by notice to the holder
  hereof), and payment to the Company in cash, by certified or official bank check
  or by wire transfer for the account of the Company, of the Exercise Price

 for the Warrant
  Shares specified in the Exercise Agreement. The Warrant Shares so purchased
  shall be deemed to be issued to the holder hereof or such holder’s designee,
  as the record owner of such shares, as of the close of business on the date
  on which this Warrant shall have been surrendered, the completed Exercise Agreement
  shall have been delivered, and payment shall have been made for such shares
  as set forth above or, if such date is not a business date, on the next succeeding
  business date. The Warrant Shares so purchased, representing the aggregate number
  of shares specified in the Exercise Agreement, shall (by the Company or through
  its transfer agent) be delivered (i.e., deposited with a nationally-recognized
  overnight courier service postage prepaid) to the holder hereof within a reasonable
  time, not exceeding two business days, after this Warrant shall have been so
  exercised (the “Delivery Period”). If the Company’s transfer
  agent is participating in the Depository Trust Company (“DTC”) Fast
  Automated Securities Transfer program, and so long as the certificates therefor
  do not bear a legend and the holder is not obligated to return such certificate
  for the placement of a legend thereon, the Company shall cause its transfer
  agent to electronically transmit the Warrant Shares so purchased to the holder
  by crediting the account of the holder or its nominee with DTC through its Deposit
  Withdrawal Agent Commission system (“DTC Transfer”). If the aforementioned
  conditions to a DTC Transfer are not satisfied, the Company shall deliver as
  provided herein to the holder physical certificates representing the Warrant
  Shares so purchased. Further, the holder may instruct the Company to deliver
  to the holder physical certificates representing the Warrant Shares so purchased
  in lieu of delivering such shares by way of DTC Transfer. Any certificates so
  delivered shall be in such denominations as may be reasonably requested by the
  holder hereof, shall be registered in the name of such holder or such other
  name as shall be designated by such holder and, following the date on which
  the Warrant Shares have been registered under the Securities Act pursuant to
  that certain Registration Rights Agreement, dated as of March 31, 2003, by and
  between the Company and the signatories thereto (the “Registration Rights
  Agreement”) or otherwise may be sold by the holder pursuant to Rule 144(k)
  promulgated under the Securities Act (or a successor rule), shall not bear any
  restrictive legend. If this Warrant shall have been exercised only in part,
  then the Company shall, at its expense, at the time of delivery of such certificates,
  deliver to the holder a new Warrant representing the number of shares with respect
  to which this Warrant shall not then have been exercised.

     
  2.   Period of Exercise. This Warrant shall be exercisable
  at any time or from time to time during the period beginning on May 16, 2003
  and ending at 5:00 p.m., New York City time, on May 16, 2008 (the “Exercise
  Period”). The Exercise Period shall automatically be extended by one (1)
  day for each day during the Exercise Period (or any extension thereof) on which
  the Company does not have a number of shares of Common Stock reserved for issuance
  upon exercise hereof at least equal to the number of shares of Common Stock
  issuable upon exercise hereof.

     
  3.   Certain Agreements of the Company. The Company hereby
  covenants and agrees as follows:

          (a)   Shares
  to be Fully Paid. All Warrant Shares will, upon issuance in accordance with
  the terms of this Warrant, be validly issued, fully paid, and nonassessable
  and free from all taxes, liens, claims and encumbrances.

 2

          (b)   Reservation
  of Shares. During the Exercise Period, the Company shall at all times have
  authorized, and reserved for the purpose of issuance upon exercise of this Warrant,
  a sufficient number of shares of Common Stock to provide for the exercise in
  full of this Warrant (without giving effect to the limitations on exercise set
  forth in Section 7(g) hereof).

          (c)
     Listing.
  The Company shall file an amendment to the Notification
  Form: Listing of Additional Shares
  as filed on March 29, 2003 with respect to the Warrant Shares with the Nasdaq
  National Market (“NNM”), and shall maintain, so long as any other
  shares of Common Stock shall be so listed, such listing of all shares of Common
  Stock from time to time issuable upon the exercise of this Warrant; and the
  Company shall so list on each national securities exchange or automated quotation
  system, as the case may be, and shall maintain such listing of, any other shares
  of capital stock of the Company issuable upon the exercise of this Warrant if
  and so long as any shares of the same class shall be listed on such national
  securities exchange or automated quotation system.

          (d)   Certain
  Actions Prohibited. The Company will not, by amendment of its charter or
  through any reorganization, transfer of assets, consolidation, merger, dissolution,
  issue or sale of securities, or any other voluntary action, avoid or seek to
  avoid the observance or performance of any of the terms to be observed or performed
  by it hereunder, but will at all times in good faith assist in the carrying
  out of all the provisions of this Warrant and in the taking of all such action
  as may reasonably be requested by the holder of this Warrant in order to protect
  the economic benefit inuring to the holder hereof and the exercise privilege
  of the holder of this Warrant against dilution or other impairment, consistent
  with the tenor and purpose of this Warrant. Without limiting the generality
  of the foregoing, the Company (i) will not increase the par value of any shares
  of Common Stock receivable upon the exercise of this Warrant above the Exercise
  Price then in effect, and (ii) will take all such actions as may be necessary
  or appropriate in order that the Company may validly and legally issue fully
  paid and nonassessable shares of Common Stock upon the exercise of this Warrant.

          (e)   Successors
  and Assigns. This Warrant will be binding upon any entity succeeding to
  the Company by merger, consolidation, or acquisition of all or substantially
  all of the Company’s assets.

           
  (f)   Blue Sky Laws. The Company shall, on or before the
  date of issuance of any Warrant Shares, take such actions as the Company shall
  reasonably determine are necessary to qualify the Warrant Shares for, or obtain
  exemption for the Warrant Shares for, sale to the holder of this Warrant upon
  the exercise hereof under applicable securities or “blue sky” laws
  of the states of the United States, and shall provide evidence of any such action
  so taken to the holder of this Warrant prior to such date if requested by the
  holder hereof; provided, however, that the Company shall not be required in
  connection therewith or as a condition thereto to (a) qualify to do business
  in any jurisdiction where it would not otherwise be required to qualify but
  for this Section 3(f), (b) subject itself to general taxation in any such jurisdiction
  or (c) file a general consent to service of process in any such jurisdiction.

     
  4.   Antidilution Provisions. During the Exercise Period,
  the Exercise Price and the number of Warrant Shares issuable hereunder shall
  be subject to adjustment from time to time as

 3

 provided in
  this Section 4. In the event that any adjustment of the Exercise Price as required
  herein results in a fraction of a cent, such Exercise Price shall be rounded
  up or down to the nearest cent.

           
  (a)   Subdivision or Combination of Common Stock. If the
  Company, at any time during the Exercise Period, subdivides (by any stock split,
  stock dividend, recapitalization, reorganization, reclassification or otherwise)
  its shares of Common Stock into a greater number of shares, then, after the
  date of record for effecting such subdivision, the Exercise Price in effect
  immediately prior to such subdivision will be proportionately reduced. If the
  Company, at any time during the Exercise Period, combines (by reverse stock
  split, recapitalization, reorganization, reclassification or otherwise) its
  shares of Common Stock into a smaller number of shares, then, after the date
  of record for effecting such combination, the Exercise Price in effect immediately
  prior to such combination will be proportionately increased.

           
  (b)   Adjustment in Number of Shares. Upon each adjustment
  of the Exercise Price pursuant to the provisions of this Section 4, the number
  of shares of Common Stock issuable upon exercise of this Warrant at each such
  Exercise Price shall be adjusted by multiplying a number equal to the Exercise
  Price in effect immediately prior to such adjustment by the number of shares
  of Common Stock issuable upon exercise of this Warrant at such Exercise Price
  immediately prior to such adjustment and dividing the product so obtained by
  the adjusted Exercise Price.

          
  (c)   Consolidation, Merger or Sale. In case of any consolidation
  of the Company with, or merger of the Company into, any other corporation, or
  in case of any sale or conveyance of all or substantially all of the assets
  of the Company other than in connection with a plan of complete liquidation
  of the Company at any time during the Exercise Period, then as a condition of
  such consolidation, merger or sale or conveyance, adequate provision will be
  made whereby the holder hereof will have the right to acquire and receive upon
  exercise of this Warrant in lieu of the shares of Common Stock immediately theretofore
  acquirable upon the exercise of this Warrant, such shares of stock, securities,
  cash or assets as may be issued or payable with respect to or in exchange for
  the number of shares of Common Stock immediately theretofore acquirable and
  receivable upon exercise of this Warrant had such consolidation, merger or sale
  or conveyance not taken place. In any such case, the Company will make appropriate
  provision to insure that the provisions of this Section 4 hereof will thereafter
  be applicable as nearly as may be in relation to any shares of stock or securities
  thereafter deliverable upon the exercise of this Warrant. The Company will not
  effect any consolidation, merger or sale or conveyance unless prior to the consummation
  thereof, the successor corporation (if other than the Company) assumes by written
  instrument the obligations under this Warrant and the obligations to deliver
  to the holder hereof such shares of stock, securities or assets as, in accordance
  with the foregoing provisions, the holder may be entitled to acquire.

           
  (d)   Distribution of Assets. In case the Company shall declare
  or make any distribution of its assets (or rights to acquire its assets) to
  holders of Common Stock as a partial liquidating dividend, stock repurchase
  by way of return of capital or otherwise (including any dividend or distribution
  to the Company’s stockholders of cash or shares (or rights to acquire shares)
  of capital stock of a subsidiary) (a “Distribution”), at any time
  during the Exercise

 4

Period, then
  the holder hereof shall be entitled upon exercise of this Warrant for the purchase
  of any or all of the shares of Common Stock subject hereto, to receive the amount
  of such assets (or rights) which would have been payable to the holder had such
  holder been the holder of such shares of Common Stock on the record date for
  the determination of stockholders entitled to such Distribution. If the Company
  distributes rights, warrants, options or any other form of convertible securities
  and the right to exercise or convert such securities would expire in accordance
  with their terms prior to the expiration of the Exercise Period, then the terms
  of such securities shall provide that such exercise or convertibility right
  shall remain in effect until 30 days after the date the holder hereof receives
  such securities pursuant to the exercise hereof.

  (e)    
    Notice
    of Adjustment. Upon the occurrence of any event which requires any adjustment
    of the Exercise Price, then, and in each such case, the Company shall give
    notice thereof to the holder hereof, which notice shall state the Exercise
    Price resulting from such adjustment and the increase or decrease in the number
    of Warrant Shares purchasable at such price upon exercise, setting forth in
    reasonable detail the method of calculation and the facts upon which such
    calculation is based. Such calculation shall be certified by the chief financial
    officer of the Company.

 (f)
     Minimum Adjustment of Exercise Price. No adjustment
  of the Exercise Price shall be made in an amount of less than $.01, but any
  such lesser adjustment shall be carried forward and shall be made at the time
  and together with the next subsequent adjustment which, together with any adjustments
  so carried forward, shall amount to not less than $.01.  

  

 (g)
     No
  Fractional Shares.
  No fractional shares of Common Stock are to be issued upon the exercise of this
  Warrant, but the Company shall pay a cash adjustment in respect of any fractional
  share which would otherwise be issuable in an amount equal to the same fraction
  of the Market Price of a share of Common Stock on the date of such exercise.
   
 

 (h)   
  Other Notices. In case at any time: 
  

  (i)   the
    Company shall declare any dividend upon the Common Stock payable in shares
    of stock of any class or make any other distribution (other than dividends
    or distributions payable in cash out of retained earnings consistent with
    the Company’s past practices with respect to declaring dividends and
    making distributions) to the holders of the Common Stock;

  (ii)   the
    Company shall offer for subscription pro rata to the holders of the Common
    Stock any additional shares of stock of any class or other rights;

  (iii)   there
    shall be any capital reorganization of the Company, or reclassification of
    the Common Stock, or consolidation or merger of the Company with or into,
    or sale of all or substantially all of its assets to, another corporation
    or entity; or

  (iv)   there shall be a voluntary or involuntary dissolution,
  liquidation or winding-up of the Company;  
 

5

then, in each
  such case, the Company shall give to the holder of this Warrant (a) notice of
  the date or estimated date on which the books of the Company shall close or
  a record shall be taken for determining the holders of Common Stock entitled
  to receive any such dividend, distribution, or subscription rights or for determining
  the holders of Common Stock entitled to vote in respect of any such reorganization,
  reclassification, consolidation, merger, sale, dissolution, liquidation or winding-up
  and (b) in the case of any such reorganization, reclassification, consolidation,
  merger, sale, dissolution, liquidation or winding-up, notice of the date (or,
  if not then known, a reasonable estimate thereof by the Company) when the same
  shall take place. Such notice shall also specify the date on which the holders
  of Common Stock shall be entitled to receive such dividend, distribution, or
  subscription rights or to exchange their Common Stock for stock or other securities
  or property deliverable upon such reorganization, reclassification, consolidation,
  merger, sale, dissolution, liquidation, or winding-up, as the case may be. Such
  notice shall be given at least ten (10) days prior to the record date or the
  date on which the Company’s books are closed in respect thereto. Failure
  to give any such notice or any defect therein shall not affect the validity
  of the proceedings referred to in clauses (i), (ii), (iii) and (iv) above.

 Notwithstanding
  the foregoing, the Company shall publicly disclose the substance of any notice
  delivered hereunder prior to delivery of such notice to the holder hereof.

(i)
     Certain
  Events. If,
  at any time during the Exercise Period, any event occurs of the type contemplated
  by the adjustment provisions of this Section 4 but not expressly provided for
  by such provisions, the Company will give notice of such event as provided in
  Section 4(e) hereof, and an appropriate adjustment in the Exercise Price and
  the number of shares of Common Stock acquirable upon exercise of this Warrant
  at each such Exercise Price shall be made so that the rights of the holder shall
  be neither enhanced nor diminished by such event.  

  

(j)   Certain
  Definitions 
 

(i)   Certificate
  of Designation”
  means that certain Certificate of  
 

 Designations,
  Preferences and Rights relating to the Series A Convertible Preferred Stock
  of the Company, filed with the Secretary of State of the State of Delaware on
  March 31, 2003.

(ii)   “Common
  Stock”
  for purposes of this Section 4, includes the Common Stock and any additional
  class of stock of the Company having no preference as to dividends or distributions
  on liquidation, provided that the shares purchasable pursuant to this Warrant
  shall include only Common Stock in respect of which this Warrant is exercisable,
  or shares resulting from any subdivision or combination of such Common Stock,
  or in the case of any reorganization, reclassification, consolidation, merger,
  or sale of the character referred to in Section 4(c) hereof, the stock or other
  securities or property provided for in such Section.
  
 

(iii)   
  “Market
  Price”
  as of any date, (i) means the average of the closing sales prices for the shares
  of Common Stock on the Nasdaq National Market or other trading market where
  such security is listed or traded as reported by Bloomberg Financial Markets
  (or a comparable reporting service of national reputation selected by the Company
  and reasonably acceptable to the holders if Bloomberg Financial Markets is not
  then reporting sales prices of such security)(collectively, “Bloomberg”)
  for the five (5) consecutive trading days immediately preceding such date, or
  (ii) if the Nasdaq National Market is not the principal trading market for 
  
 

6

 the shares
  of Common Stock, the average of the reported sales prices reported by Bloomberg
  on the principal trading market for the Common Stock during the same period,
  or, if there is no sales price for such period, the last sales price reported
  by Bloomberg for such period, or (iii) if the foregoing do not apply, the last
  sales price of such security in the over-the-counter market on the pink sheets
  or bulletin board for such security as reported by Bloomberg, or if no sales
  price is so reported for such security, the last bid price of such security
  as reported by Bloomberg, or (iv) if market value cannot be calculated as of
  such date on any of the foregoing bases, the Market Price shall be the average
  fair market value as reasonably determined by an investment banking firm selected
  by the Company and reasonably acceptable to the holder, with the costs of the
  appraisal to be borne by the Company. The manner of determining the Market Price
  of the Common Stock set forth in the foregoing definition shall apply with respect
  to any other security in respect of which a determination as to market value
  must be made hereunder.

  5.   Issue
  Tax. The issuance
  of certificates for Warrant Shares upon the exercise of this Warrant shall be
  made without charge to the holder of this Warrant or such shares for any issuance
  tax or other costs in respect thereof, provided that the Company shall not be
  required to pay any tax which may be payable in respect of any transfer involved
  in the issuance and delivery of any certificate in a name other than the holder
  of this Warrant.  
 

 
  6.   No
  Rights or Liabilities as a Stockholder.
  This Warrant shall not entitle the holder hereof to any voting rights or other
  rights as a stockholder of the Company. No provision of this Warrant, in the
  absence of affirmative action by the holder hereof to purchase Warrant Shares,
  and no mere enumeration herein of the rights or privileges of the holder hereof,
  shall give rise to any liability of such holder for the Exercise Price or as
  a stockholder of the Company, whether such liability is asserted by the Company
  or by creditors of the Company.  
 

  7.    Transfer,
    Exchange and Replacement of Warrant

 (a)   Restriction
  on Transfer.
  This Warrant and the rights granted to the holder hereof are transferable,
  in whole or in part, upon surrender of this Warrant, together with a properly
  executed assignment in the form attached hereto, at the office or agency of
  the Company referred to in Section 7(e) below,  provided,
  however, that
  any transfer or assignment shall be subject to the conditions set forth in Sections
  7(f) and (g) hereof and to the provisions of Sections 2(f) and 2(g) of the Subscription
  Agreement, dated May 16, 2003, between the Company and Punk, Ziegel & Company,
  L.P., provided further, that this Warrant and the rights granted to the holder
  hereof are not transferable to direct competitors of the Company or persons
  or entities that have announced plans to compete directly with the Company.
  Until due presentment for registration of transfer on the books of the Company,
  the Company may treat the registered holder hereof as the owner and holder hereof
  for all purposes, and the Company shall not be affected by any notice to the
  contrary. Notwithstanding anything to the contrary contained herein, the registration
  rights described in Section 8 hereof are assignable only in accordance with
  the provisions of the Registration Rights Agreement. 
 

(b)   Warrant
  Exchangeable for Different Denominations.
  This Warrant is exchangeable, upon the surrender hereof by the holder hereof
  at the office or agency of the Company referred to in Section 7(e) below, for
  new warrants of like tenor of different  
 

7

denominations
  representing in the aggregate the right to purchase the number of shares of
  Common Stock which may be purchased hereunder, each of such new warrants to
  represent the right to purchase such number of shares (at the Exercise Price
  therefor) as shall be designated by the holder hereof at the time of such surrender,
  and all such warrants thereafter constituting the Warrant referenced herein.
  Notwithstanding the foregoing, in no event shall the Company be required to
  issue new warrants pursuant to this Section 7(b) for the right to purchase less
  than 1,000 shares of Common Stock.

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

(d)   Cancellation;
  Payment of Expenses.
  Upon the surrender of this Warrant in connection with any transfer, exchange,
  or replacement as provided in this Section 7, this Warrant shall be promptly
  canceled by the Company. The Company shall pay all taxes (other than securities
  transfer taxes) and all other expenses (other than legal expenses, if any, incurred
  by the Holder or transferees) and charges payable in connection with the preparation,
  execution, and delivery of any Warrant pursuant to this Section 7. 
  
 

(e)   Warrant
  Register.
  The Company shall maintain, at its principal executive offices (or such other
  office or agency of the Company as it may designate by notice to the holder
  hereof), a register for this Warrant, in which the Company shall record the
  name and address of the person in whose name this Warrant has been issued, as
  well as the name and address of each transferee and each prior owner of this
  Warrant.  
 

  (f)   Exercise
  or Transfer Without Registration.
  If, at the time of the surrender of this Warrant in connection with any exercise,
  transfer, or exchange of this Warrant, this Warrant (or, in the case of any
  exercise, the Warrant Shares issuable hereunder), shall not be registered under
  the Securities Act and under applicable state securities or blue sky laws, the
  Company may require, as a condition of allowing such exercise, transfer, or
  exchange, (i) that the holder or transferee of this Warrant, as the case may
  be, furnish to the Company a written opinion of counsel (which opinion shall
  be in form, substance and scope customary for opinions of counsel in comparable
  transactions and reasonably acceptable to the Company) to the effect that such
  exercise, transfer, or exchange may be made without registration under the Securities
  Act and under applicable state securities or blue sky laws, (ii) that the holder
  or transferee execute and deliver to the Company an investment letter in form
  and substance acceptable to the Company and (iii) that the transferee be an
  “accredited investor” as defined in Rule 501(a) promulgated under
  the Securities Act;
  provided that
  no such opinion, letter, or status as an “accredited investor” shall
  be required in connection with a transfer pursuant to Rule 144 under the Securities
  Act. 
 

  (g)   Additional
  Restrictions on Exercise or Transfer.
  In no event shall the holder hereof have the right to exercise any portion of
  this Warrant for shares of Common Stock or to  

  

8

dispose of
  any portion of this Warrant to the extent that such right to effect such exercise
  or disposition would result in the holder or any of its affiliates together
  beneficially owning more than the greater of (a) 4.99% of the outstanding shares
  of Common Stock or (b) that percentage of the outstanding shares of Common Stock
  held by such holder and its affiliates immediately prior to the date of issuance
  of this Warrant (including in such calculation any shares of Common Stock underlying
  warrants to purchase Common Stock (other than this Warrant) held by such holder
  immediately prior to the date of issuance of this Warrant). For purposes of
  this Section 7(g), beneficial ownership shall be determined in accordance with
  Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation
  13D-G thereunder. The restriction contained in this Section 7(g) may not be
  altered, amended, deleted or changed in any manner whatsoever unless the holders
  of a majority of the outstanding shares of Common Stock and the holder hereof
  shall approve, in writing, such alteration, amendment, deletion or change.

 
  8.   Registration
  Rights. The
  initial holder of this Warrant (and certain assignees thereof) is entitled to
  the benefit of such registration rights in respect of the Warrant Shares as
  are set forth in the Registration Rights Agreement, including the right to assign
  such rights to certain assignees, as set forth therein.  

  

  9.   Notices.
  Any notices required or permitted to be given under the terms of this Warrant
  shall be sent by certified or registered mail (return receipt requested) or
  delivered personally or by courier or by confirmed telecopy, and shall be effective
  five days after being placed in the mail, if mailed, or upon receipt or refusal
  of receipt, if delivered personally or by courier, or by confirmed telecopy,
  in each case addressed to a party. The addresses for such communications shall
  be:  
 

	 	 	 
	 	If
      to the Company: 	 
	 	 	 
	 	Orchid
      BioSciences, Inc. 	 
	 	4390 US
      Route One North 	 
	 	Princeton,
      NJ 08540 	 
	 	Telephone:
      (609) 750-2200 	 
	 	Fax: (609)
      750-6400	 
	 	Attn:
      Chief Financial Officer  	 
	 	 	 
	 	with
      a copy simultaneously transmitted by like means to:  
	 	 	 
	 	Mintz,
      Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
	 	One Financial
      Center	 
	 	Boston,
      MA 02111 	 
	 	Telephone:
      (617) 542-6000	 
	 	Fax: (617)
      542-2241	 
	 	Attn:
      John J. Cheney, III, Esq.	 
	 	 	 
	If
      to the holder, at such address as such holder shall have provided in writing
      to the Company, or at such other address as such holder furnishes by notice
      given in accordance with this Section 9.

 9

  10.   Governing
    Law; Jurisdiction.
    This Warrant shall be governed by and construed in accordance with the laws
    of the State of Delaware. Each of the Company and the holder hereof irrevocably
    consents to the jurisdiction of the United States federal courts and state
    courts located in the State of Delaware in any suit or proceeding based on
    or arising under this Warrant and irrevocably agrees that all claims in respect
    of such suit or proceeding may be determined in such courts. Each of the Company
    and the holder hereof irrevocably waives any objection to the laying of venue
    and the defense of an inconvenient forum to the maintenance of such suit or
    proceeding. Each of the Company and the holder hereof further agrees that
    service of process mailed by certified or registered mail shall be deemed
    in every respect effective service of process in any such suit or proceeding.
    Nothing herein shall affect the Company’s or the holder’s right
    to serve process in any other manner permitted by law. Each of the Company
    and the holder hereof agrees that a final non-appealable judgment in any such
    suit or proceeding shall be conclusive and may be enforced in other jurisdictions
    by suit on such judgment or in any other lawful manner.

   11.  Miscellaneous.

   (a)   Amendments.
    Except as provided in section 7(g) hereof, this warrant and any provision
    hereof may only be amended by an instrument in writing signed by the company
    and the holder hereof.

(b)   Descriptive Headings. The descriptive headings of the several sections of this warrant are inserted for purposes of reference only, and shall not affect the meaning or construction of any of the provisions hereof. 

   (c)   [Reserved]

(d)   Trading Day. For purposes of this Warrant, the term “trading day” means any day on which the principal United States securities exchange or trading market where the Common Stock is then listed is open for trading.

(e)   Redemption of Warrant by Company.

(i)   Provided that (x) all shares of Common Stock issuable upon exercise of this Warrant are then (A) authorized and reserved for issuance, (B) registered under the Securities Act of 1933, as amended, for resale by the holder of the Warrant, and (C) eligible to be traded on a National Securities Market (as defined in the Certificate of Designation), (y) all of the Required Conditions (as defined in the Certificate of Designation) are satisfied, and (z) the Company has undergone a Change of Control Event (as defined in the Certificate of Designation) within the 30-day period immediately prior to the delivery by the Company of a Redemption Notice (as defined below), the Company, or if the Company is not the surviving entity in such Change of Control Event, such other entity that has assumed the obligations hereunder (for purposes of this Section 11(e) only, the Company may elect, upon delivery of at least thirty (30) days’ prior written notice (the “Redemption Notice”) to the holder hereof, to redeem all of the Warrant for a redemption amount equal to the number of Warrant Shares 

10

issuable upon
  the exercise of all of this Warrant multiplied by a value per warrant using
  the Black-Scholes model of valuation, using, the Exercise Price, 50% volatility,
  and an interest rate of 5% (the “Redemption
  Amount”).
  

(ii)   The Company may not deliver a Notice of Redemption unless on or prior to the date of delivery of a Notice of Redemption, the Company shall have segregated on the books and records of the Company an amount of cash sufficient to pay all amounts to which the holder of the Warrant is entitled pursuant to Section 11(e)(i). Any Notice of Redemption delivered shall be irrevocable and shall be accompanied by a statement executed by a duly authorized officer of the Company.

(iii)   The Redemption Amount shall be paid to the holder within three (3) business days of the date of redemption set forth in the Notice of Redemption; provided, however, that the Company shall not be obligated to deliver any portion of the Redemption Amount until either this Warrant is delivered to the Company or the holder notifies the Company that the Warrant has been lost, stolen or destroyed and delivers the documentation in accordance with Section 7(c) hereof. In the event only a portion of this Warrant is being redeemed, the Company shall issue, at its expense, a new Warrant representing the number of shares with respect to which this Warrant shall not then have been redeemed or exercised.

   (iv)   Notwithstanding
    the delivery of a Redemption Notice, the holder may exercise all or a portion
    of this Warrant subject to such Redemption Notice by the delivery prior to
    the date of redemption set forth in such notice of an Exercise Agreement pursuant
    to the procedures set forth in Section 1.

(f)   Indemnification by Company. 

(i)   The Company shall hold harmless and indemnify the holder of this Warrant from and against, and shall compensate and reimburse such holder for, any damages which are directly or indirectly suffered or incurred by such holder or to which such holder may otherwise become subject (regardless of whether or not such damages relate to any third-party claim) and which arise from or as a result of, or are directly or indirectly connected with any breach of any of the Company’s covenants set forth herein.

(ii)   In the event of the assertion or commencement by any person of any claim or legal proceeding with respect to which the holder may have indemnification rights pursuant to this Section 11(f)(i), the holder shall promptly notify the Company thereof in writing, but the failure to so notify the Company will not limit the holder’s rights to indemnification hereunder, except to the extent the Company demonstrates that the defense of such action is prejudiced by the failure to so give such notice. Within a reasonable time of receipt of such notice, the Company may at its election participate at its own expense in the defense of such claim or assume the defense of any such claim with counsel chosen by the Company; provided, however, that if the defendants in any such action include such holder and the Company and the holder shall have been advised by its counsel that there may be legal defenses available to the holder which are different from or additional to and in conflict with or present a potential conflict with those available to the Company, such holder shall have the right to employ its own counsel 

11

in such action,
  and in such event the reasonable fees and expenses of such counsel shall be
  borne by the Company. If the Company assumes the defense of such claim and no
  conflict exists permitting the holder to retain separate counsel pursuant to
  the immediately preceding sentence, the Company shall have no obligation to
  pay any fees or expenses of any counsel retained the holder or any other person
  entitled to indemnification hereunder in connection with such a claim. The holder
  shall not settle any claim in respect of which indemnification shall be sought
  hereunder without the prior written consent of the Company. The Company shall
  not be liable for any settlement of any action, claim, suit or proceeding (or
  for any related losses, damages, liabilities, costs or expenses) if such settlement
  is effectuated without its written consent, which shall not be unreasonably
  withheld.

[Remainder of page left blank.]

12

  IN
    WITNESS WHEREOF,
    the Company has caused this Warrant to be signed by its duly authorized officer.

	 	ORCHID
      BIOSCIENCES, INC.
	 	 	 
	 	By:      /s/
      Andrew P. Savadelis 
	 	 	

	 	 	Name:   Andrew
      P. Savadelis
	 	 	Title:          Sr.
      Vice President, Finance and

                       Chief
      Financial Officer 

 13<PAGE>

EXHIBIT 10.14

                         PERFORMANCE EARN-OUT AGREEMENT

THIS PERFORMANCE EARN-OUT AGREEMENT, made effective on February 12, 2002, by and
between:

CONCENTRAX, INC., a Nevada corporation having its executive office at 817 Oak
Glen, Houston, Texas 77076 (hereinafter referred to as "COMPANY")

                                       AND

PJC ASSOCIATES, having its principal place of business at 1025 Old Country Road,
#300B, Westbury, New York 11590 (hereinafter "PJC").

WITNESSETH THAT:

WHEREAS, PJC has expert knowledge and experience in the area of identifying and
making presentations to brokerage firms, individual brokers, investors,
Investment Bankers, public companies and can advise and prepare Research Reports
as well as provide general PR for the company

WHEREAS, PJC is being issued shares of the Common Stock of COMPANY for providing
such services to COMPANY;

WHEREAS, the number of shares being issued has been based upon projected ongoing
market support which projections and calculations have been accepted by COMPANY
and PJC as reasonable;

WHEREAS, COMPANY and PJC desire to protect investors and other stockholders of
COMPANY from excessive dilution in the event that such projections and
calculation are determined, by actual events, to be (or to have been )
erroneous;

WHEREAS, the parties have agreed upon a procedure of the escrowing of a portion
of the shares with ESCROW AGENT with shares to be released from escrow upon
achievement by COMPANY of specified volumes of activity;

NOW, THEREFORE, intending to be legally bound, and in consideration for the
issuance by COMPANY of the shares to PJC in consideration of its contributions,
the parties agree as follows:

1. COMPANY shall issue to PJC, and PJC accepts as full compensation for its
contributions, 500,000 shares of Common Stock of COMPANY, subject nevertheless
to the terms and conditions of this Agreement.

2. COMPANY and PJC hereby appoint and designate Andrea Cataneo, Esq., with
offices at 81 Meadowbrook Road, Randolph, NJ 07869 as "ESCROW AGENT" hereunder
for the purpose set forth herein and ESCROW AGENT accepts such appointment.

                                        1

<PAGE>

3. COMPANY shall immediately issue a certificate for 400,000 shares to PJC (or 4
certificates for 100,000 shares each) for services already rendered, and shall
deliver 1 certificates for 100,000 shares, with an issuance date of February 12,
2002, to the ESCROW AGENT.

4. (a) The COMPANY and PJC authorize ESCROW AGENT to act pursuant to the terms
of this Agreement. In the event of the disability, death, inability to act or
resignation of ESCROW AGENT, PJC and the COMPANY shall select a bank, trust
company or other appropriate person to act as substitute escrow agent hereunder.
In such event, COMPANY shall be liable for any service fees and costs
notwithstanding Paragraph 8(a) below.

(b) The term "ESCROW AGENT" as used herein is used merely for convenience as PJC
recognizes and agrees that the ESCROW AGENT is acting as agent for the COMPANY
for the protection of investors and PJCs.

(c) The COMPANY and PJC hereby agree to deposit the 100,000 shares (hereinafter
"SHARES") with the ESCROW AGENT.

(d) ESCROW AGENT shall hold and dispose of the SHARES in accordance with the
terms and provisions of this Agreement.

(e) ESCROW AGENT shall keep and preserve the SHARES pending delivery to PJC or
the return of the SHARES to the COMPANY as provided below or until tender into
court as provided in Paragraph 6 below.

(f) Upon delivery and/or return of all of the SHARES as provided in Paragraph 4
above, all obligations between PJC and the COMPANY on the one hand, and ESCROW
AGENT on the other, shall cease.

5. The 400,000 shares being issued and delivered to PJC shall be deemed vested
and fully-owned by PJC and such shares shall not be subject to return or
cancellation or to the terms and conditions of the Agreement.

6. (a) The 100,000 shares being issued to PJC and delivered to the ESCROW AGENT
shall be subject to return and cancellation unless such shares are earned-out
pursuant to the terms and conditions of this Agreement.

(b) The number of shares of the escrowed (100,000 shares, or 1 certificate for
100,000 shares) of COMPANY's Common Stock to be released to PJC by ESCROW AGENT
based upon a determination of COMPANY in accordance of subparagraph (c) of this
paragraph with such determinations commencing with the month ended July 31,
2002.

(c) An authorization letter stating the COMPANY's determination shall be
prepared, in the form of letter attached hereto as Exhibit "A", in order for the
shares to be released for each authorization letter must be executed by no fewer
than two of COMPANY's Directors and sent to the offices of ESCROW AGENT via
facsimile or regular mail within three (3) business days of the end of the
month.

(d) Upon receipt of such authorization letter ESCROW AGENT shall immediately
release that month's certificate to PJC.

                                        2

<PAGE>

(e) In the event that any shares have not been released and delivered following
release by the Directors of their authorization letter, the ESCROW AGENT shall
deliver the remaining shares to the COMPANY for cancellation and return to the
status of authorized and unissued shares.

7. In the event of a merger, acquisition, reorganization or recapitalization of
COMPANY, the shares and all other consideration received in respect to the
SHARES shall be delivered and, or in the alternative, paid to ESCROW AGENT. Upon
receipt of such consideration in full, ESCROW AGENT shall release and deliver
the SHARES to PJC or other persons entitled thereto under the circumstances and
ESCROW AGENT shall hold the substituted shares and other consideration pursuant
to the terms of this Agreement.

8. (a) There shall be no fee or service charge payable to the ESCROW AGENT for
serving in that capacity under the terms of this Agreement.

(b) PJC and the COMPANY jointly and severally hereby agree to indemnify and hold
harmless ESCROW AGENT against any and all losses, claims, damages, liabilities
and expenses, including reasonable costs of investigation and counsel fees and
disbursements, which may be imposed upon ESCROW AGENT or incurred by ESCROW
AGENT in connection with his acceptance of appointment as ESCROW AGENT
hereunder, or the performance of his duties hereunder, including any litigation
arising from this Agreement or involving the subject matter hereof.

9. (a) In performing any of its duties hereunder, ESCROW AGENT shall not incur
any liability to anyone for damages, losses or expenses, except for willful
default or breach of trust, and it shall accordingly not incur any such
liability with respect (i) to any action taken or omitted in good faith upon
advice of its counsel or counsel for the parties given with respect to any
questions relating to its duties and responsibilities as ESCROW AGENT under this
Agreement, or (ii) to any action taken or omitted in reliance upon any
instrument, including any written notice or instruction provided for in this
Agreement, not only as to its due execution and the validity and effectiveness
of its provisions but also to the truth and accuracy of any information
contained therein, which ESCROW AGENT shall in good faith believe to be genuine,
to have been signed or presented by a proper person or persons, and to conform
with the provisions of this Agreement.

(b) In the event of a dispute between any of the parties hereto sufficient in
the discretion of the ESCROW AGENT to justify its doing so, ESCROW AGENT shall
be entitled to tender into the registry or custody of any court of competent
jurisdiction, the shares and all money or other property in his hands under this
Agreement, together with such legal pleadings as he deems appropriate, and
thereupon be discharged from all further duties and liabilities under this
Agreement. Any such legal action may be brought in such court as ESCROW AGENT
shall determine has jurisdiction thereof.

10. (a) Until ESCROW AGENT shall have proceeded to release and/or return the
shares as provided in Paragraph 4 above, PJC shall be entitled to: vote the
shares and to transfer, assign and otherwise have and exercise all rights of
ownership therein; but always subject to the terms and conditions of this
Agreement. Stock dividends shall be forthwith delivered to ESCROW AGENT.

                                        3

<PAGE>

(b) All dividends and distributions with respect to the shares, including stock
dividends, shall be paid to the ESCROW AGENT who shall hold such subject to the
terms and conditions of this Agreement and dispose of such as otherwise provided
for the shares themselves.

11. All notices required hereunder shall be sent by certified mail, return
receipt requested, or by registered mail to PJC, the COMPANY or ESCROW AGENT (as
may be applicable) at the addresses listed on page 1 hereof or to such other
address as has been previously furnished in writing.

12. This Agreement shall be binding upon and shall inure to the benefit of the
parties and their successors, assigns, heirs, legal representatives, executors
and administrators.

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year
first above written.

WITNESS:

                                CONCENTRAX, INC.

                                /S/ MARK GIFFORD
                          -----------------------------
                             MARK GIFFORD, PRESIDENT

PJC ASSOCIATES, INC.

                                 /S/ PHIL SALICE
                         -----------------------------
                                     PHIL SALICE

                                     ATTEST:

                                                              BY: /S/ PAUL SMITH
                                                              ------------------
/S/ ILLEGIBLE
-------------
SECRETARY

                                        4

<PAGE>

                                    EXHIBIT A

                        TO PERFORMANCE EARN-OUT AGREEMENT

                                Concentrax, Inc.
                                  817 Oak Glen
                              Houston, Texas 77016

Andrea Cataneo, Esq.

Escrow Agent for CTRX and PJC
81 Meadowbrook Road
Randolph, NJ 07869

SENT VIA FACSIMILE TO (973) 442-9933

Dear Andrea:

Based upon our review of the performance of PJC Associates, Inc., we, as
Directors of Concentrax, Inc., with the authority vested in by the Performance
Earn Out Agreement of February 12, 2002, hereby approve the release of
certificate number ______, representing shares earned for June 2002 to PJC
Associates, Inc.

This execution and mailing of this letter to you, our Escrow Agent, indicates
our satisfaction with the performance of PJC Associates, Inc. for the month. To
be valid, the letter must be signed by two of the Company's active Directors.
Upon your receipt of this letter, you are authorized to release certificate
number _____ to PJC Associates, Inc. via overnight courier to the following
address:

PJC Associated, Inc.
1025 Old Country Road, #300B
Westbury, New York 11590

Date:

WITNESS:

                                CONCENTRAX, INC.

                      MARK GIFFORD, PRESIDENT, AND DIRECTOR

                      __________________________, Director

                                        5

<PAGE>

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