Document:

NEITHER THESE  SECURITIES  NOR THE  SECURITIES  INTO WHICH THESE  SECURITIES ARE
EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE  COMMISSION OR
THE  SECURITIES  COMMISSION  OF ANY STATE IN  RELIANCE  UPON AN  EXEMPTION  FROM
REGISTRATION  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED  (THE  "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY NOT BE OFFERED  OR SOLD  EXCEPT  PURSUANT  TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE  SECURITIES  ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION  FROM  THE  REGISTRATION  REQUIREMENTS  THEREUNDER  AND  IN
COMPLIANCE WITH APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

                              CEL-SCI CORPORATION

                                    WARRANT

Warrant No.[   ]                                         Dated: March 21, 2000

      Cel-Sci  Corporation,  a  Colorado  corporation  (the  "Company"),  hereby
certifies that, for value received,  [ ] or its registered and permitted assigns
("Holder"), is entitled,  subject to the terms set forth below, to purchase from
the Company the total number of shares of Common Stock, $.01 par value per share
(the "Common Stock"), of the Company (each such share, a "Warrant Share" and all
such shares,  the  "Warrant  Shares")  calculated  pursuant to Section 3 of this
Warrant  (subject to  adjustment  for certain  events as set forth herein) at an
exercise  price  equal to $.001  per  share  (as  adjusted  from time to time as
provided in Section 8, the "Exercise  Price"),  from the date hereof through and
including  the 30th Trading Day following  March 21, 2003 (such later date,  the
"Expiration  Date"), and subject to the following terms and conditions  (certain
terms used herein are defined in Exhibit A attached hereto):

      1. Registration of Warrant. The Company shall register this Warrant,  upon
records  to be  maintained  by  the  Company  for  that  purpose  (the  "Warrant
Register"),  in the name of the  record  Holder  hereof  from time to time.  The
Company may deem and treat the registered Holder of this Warrant as the absolute
owner hereof for the purpose of any exercise  hereof or any  distribution to the
Holder,  and for all other  purposes,  and the Company  shall not be affected by
notice to the contrary.

      2.  Registration of Transfers.  The Company shall register the transfer of
any portion of this  Warrant in the Warrant  Register,  upon  surrender  of this
Warrant,  with the Form of Assignment attached hereto duly completed and signed,
to the Transfer Agent or to the Company at the address  specified in Section 13.
Upon any such registration or transfer,  a new warrant to purchase Common Stock,
in  substantially  the  form of this  Warrant  (any  such  new  warrant,  a "New
Warrant"), evidencing the portion of this Warrant so transferred shall be issued
to the  transferee and a New Warrant  evidencing  the remaining  portion of this
Warrant not so transferred,  if any, shall be issued to the transferring Holder.
The acceptance of the New Warrant by the transferee  thereof shall be deemed the

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acceptance of such  transferee of all of the rights and  obligations of a holder
of this  Warrant and of the original  holder of this Warrant  under the Purchase
Agreement (as defined in Exhibit A).

      3.    Duration, Vesting and Exercise of Warrant.

(a) The vesting of the Warrant  Shares which the Holder may acquire  pursuant to
this Warrant shall occur on the dates (each a "Vesting  Date") set forth in this
Section 3. On each such date,  this Warrant  shall vest with respect to a number
of Warrant  Shares  calculated  pursuant to Section 3(b). The first vesting date
(the "First Vesting Date") shall be the 360th day following the Closing Date (as
defined in Exhibit  A). An  additional  Vesting  Date shall  occur on each sixth
month  anniversary  of the First  Vesting Date through and  including  March 16,
2003.  The Company and the Holder  agree that the number of Warrant  Shares that
the Holder may acquire  hereunder  may only be increased,  and never  decreased,
from and after the First Vesting Date.

            (b) Except as  otherwise  set forth in this  Warrant,  this  Warrant
shall vest and become exercisable on a Vesting Date as described in Section 3(a)
for the number of Warrant  Shares  calculated in  accordance  with the following
formula:

                                     [(C x PA) / A] - C

          C           = Shares  (as  defined in Exhibit A) held by the Holder on
                      the Vesting Date less any hedged Shares.
          PA          = The  Adjustment  Price  from the  immediately  preceding
                      Vesting Date or, with respect to the First  Vesting  Date,
                      $6.52   (which   number  shall  be  subject  to  equitable
                      adjustments for stock splits,  recombinations  and similar
                      events) (the "Initial Closing Price").
          A           = "Adjustment  Price," which is equal to the lesser of (y)
                      $6.52,  or (z) the  average  of the 10  lowest  Per  Share
                      Market  Values  during  the 30  Trading  Days  immediately
                      preceding the Vesting Date.

          If the number  calculated in accordance with the foregoing  formula is
zero or a  negative  number,  no Warrant  Shares  shall vest (in the case of the
First Vesting Date) or no  additional  Warrant  Shares will vest (in the case of
any  subsequent  Vesting  Dates) for such Vesting Date. In addition,  the Holder
shall not be obligated to transfer any shares of Common Stock to the Company and
the number  Warrant Shares  exercisable  hereunder  which shall have  previously
vested will not decrease.

            (c) The  occurrence  of any of the  following  events  shall also be
deemed a Vesting Date under this Warrant.  The  calculation set forth in Section
3(b) shall be made on the date of the occurrence of such events and  "Adjustment
Price"  shall be deemed to mean the  average of the 10 lowest  Per Share  Market
Values  during  the 30  Trading  Days  immediately  preceding  the  date of such
occurrence:

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(i)  upon the occurrence of any of (i) an  acquisition  after the date hereof by
     an individual or legal entity or "group" (as described in Rule  13d-5(b)(1)
     promulgated  under the  Securities  Exchange  Act of 1934,  as amended (the
     "Exchange  Act"))  of in  excess  of 1/3 of the  voting  securities  of the
     Company,  (ii) a  replacement  of more than  one-half of the members of the
     Company's board of directors which is not approved by those individuals who
     are members of the board of directors on the date hereof in one or a series
     of  related  transactions,  (iii) the  merger of the  Company  with or into
     another entity,  consolidation or sale of all or  substantially  all of the
     assets of the  Company in one or a series of related  transactions,  unless
     following such  transaction or series of  transactions,  the holders of the
     Company's  securities prior to the first such transaction  continue to hold
     at least 2/3 of the securities of the surviving  entity or acquirer of such
     assets or (iv) the  execution  by the Company of an  agreement to which the
     Company is a party or by which it is bound, providing for any of the events
     set forth above in (i), (ii) or (iii);

(ii) immediately  prior to an  assignment  by the  Company  for the  benefit  of
     creditors or  commencement of a voluntary case under Title 11 of the United
     States Code, or an entering  into of an order for relief in an  involuntary
     case under Title 11 of the United  States Code,  or adoption by the Company
     of a plan of liquidation or dissolution;

(iii)five (5) Business Days prior to the proposed  consummation  with respect to
     the  Company of a "Rule 13e-3  transaction"  as defined in Rule 13e-3 under
     the Exchange Act (or, if necessary,  such earlier date as the Company shall
     determine  in good faith to be  required in order for the Holder to be able
     to participate in such  transaction),  it being agreed that the Holder will
     receive actual notice of the 13e-3  Statement  filed with the Commission on
     the date filed and actual notice of the date of  acceleration  hereunder no
     later than such date;

(iv) The Common  Stock fails to be listed or quoted for trading on the AMEX or a
     Subsequent  Market for a period of five (5) Trading Days (which need not be
     consecutive Trading Days);

(v)  A holder of Registrable  Securities (as defined in the Registration  Rights
     Agreement)  is not  permitted  to sell  Registrable  Securities  under  the
     Underlying  Shares  Registration  Statement  for any reason for five (5) or
     more Trading Days (whether or not consecutive); or

(vi) The Company shall fail or default in the timely performance of any material
     obligation  under the  Transaction  Documents  and such  failure or default
     shall  continue  uncured for a period of five (5)  Business  Days after the
     date on which  notice of such  failure  or  default  is first  given to the
     Company (it being  understood  that no prior notice need be provided in the
     case of defaults which cannot reasonably be cured within a 5-day period).

        (d)     Additional Vesting Dates shall also occur on such dates, if any,
on which the Company or any subsidiary thereof, shall, except in connection with
(A) the  granting  of shares  of Common  Stock or stock  options  to  employees,
officers and directors pursuant to any stock bonus plan or employee benefit plan
heretofore  or  hereinafter  duly  adopted by the  Company  and (B) a  Strategic
Transaction  (as  defined  below),  issue  shares  of  Common  Stock or  rights,
warrants,  options  or other  securities  or debt  that is  convertible  into or

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exchangeable for shares of Common Stock ("Common Stock Equivalents"),  entitling
any person or entity to acquire shares of Common Stock at a price per share less
than the  Initial  Closing  Price (if the holder of the  Common  Stock or Common
Stock  Equivalent so issued shall at any time,  whether by operation of purchase
price adjustments, reset provisions,  floating conversion,  exercise or exchange
prices or otherwise, or due to warrants,  options or rights issued in connection
with such  issuance,  be entitled to receive  shares of Common  Stock at a price
less than the  Initial  Closing  Price,  such  issuance  shall be deemed to have
occurred for less than the Initial  Closing  Price),  either in one  transaction
resulting in gross  proceeds to the Company in excess of  $1,000,000 or a series
of  transactions  resulting in aggregate gross proceeds to the Company in excess
of $1,000,000  (any such  transaction or series of  transactions,  a "Discounted
Offering" and the date of a Discounted  Offering, a "Discounted Offering Date"),
then in addition to any other  vesting of Warrant  Shares  pursuant to the terms
hereof,  on a Discounted  Offering Date, this Warrant shall vest with respect to
the number of Warrant Shares calculated in accordance with the formula set forth
below:

                                    [(C x I) / DOAP] - C

          C =   Shares  held by the Holder on the Vesting Date less any
                hedged Shares
          I  =  Initial  Closing  Price
       DOAP  =  "Discounted   Offering Adjustment Price," equal to the lessor of
                (x) $6.52, (y) the average of the Per Share Market Values for
                 the 10 trading days  immediately  preceding the Discounted
                 Offering  Date, or (z) the price per share of Common Stock
                 or Common  Stock  Equivalent  (as the case may be)  issued
                 pursuant to the Discounted  Offering  (taking into account
                 all actual or implied discounts).

            If the number calculated in accordance with the foregoing formula is
zero or a negative  number,  no Warrant  Shares shall vest pursuant to the terms
hereof and the Holder  shall not be  obligated  to transfer any shares of Common
Stock to the Company.  For purposes of this Section,  a "Strategic  Transaction"
shall mean a transaction or  relationship  in which the Company issues shares of
Common  Stock to an entity  which is,  itself or through  its  subsidiaries,  an
operating  company in a business  related to the  business of the Company and in
which the Company  receives  material  benefits in addition to the investment of
funds,  but shall not  include a  transaction  in which the  Company  is issuing
securities primarily for the purpose of raising capital.

            (e)  Subject  to  Sections  3(a)  and  (b),  this  Warrant  shall be
exercisable by the  registered  Holder on any Business Day before 5:00 P.M., New
York City time, at any time and from time to time on or after the date hereof to
and  including  the  Expiration  Date.  At 5:00 P.M.,  New York City time on the
Expiration  Date, the portion of this Warrant not exercised  prior thereto shall
be and become void and of no value.

            (f)  Subject  to  Sections  3(a)  and  (b),  this  Warrant  shall be
exercisable,  either in its entirety or, from time to time, for a portion of the
number of Warrant  Shares.  If less than all of the Warrant  Shares which may be
purchased  under this Warrant are exercised at any time, the Company shall issue
or cause to be issued,  at its expense,  a New Warrant  evidencing  the right to
purchase the remaining  number of Warrant  Shares for which no exercise has been
evidenced by this Warrant.

<PAGE>

      4.    Delivery of Warrant Shares.

            (a) Upon  surrender  of this  Warrant,  with the Form of Election to
Purchase  attached  hereto  duly  completed  and  signed,  to the Company at its
address  for notice set forth in  Section  13 and upon  payment of the  Exercise
Price  multiplied  by the number of Warrant  Shares  that the Holder  intends to
purchase hereunder,  in the manner provided  hereunder,  all as specified by the
Holder in the Form of Election to Purchase,  the Company shall  promptly (but in
no event later than four (4) Trading Days after the Date of Exercise (as defined
herein))  issue or cause to be issued and cause to be  delivered  to or upon the
written  order  of the  Holder  and in such  name or  names  as the  Holder  may
designate,  a certificate  for the Warrant  Shares  issuable upon such exercise,
free of  restrictive  legends,  except when an  Underlying  Shares  Registration
Statement  is  not  then  effective  and  the  Warrant  Shares  are  not  freely
transferable  pursuant to Rule 144 promulgated under the Securities Act of 1933,
as amended (the  "Securities  Act").  Any person so  designated by the Holder to
receive  Warrant  Shares shall be deemed to have become holder of record of such
Warrant  Shares as of the Date of Exercise of this Warrant.  The Company  shall,
upon  request  of the  Holder,  if  available,  use its best  efforts to deliver
Warrant Shares hereunder electronically through the Depository Trust Corporation
or another  established  clearing  corporation  performing similar functions.  A
"Date of Exercise"  means the date on which the Company  shall have received (i)
this Warrant (or any New Warrant,  as applicable),  with the Form of Election to
Purchase  attached  hereto  (or  attached  to such  New  Warrant)  appropriately
completed and duly signed, and (ii) payment of the Exercise Price for the number
of Warrant Shares to be purchased so indicated by the Holder hereof.

            (b) If the  Company  fails to deliver to the Holder to an address in
the United States  certificate or certificates  representing  the Warrant Shares
pursuant  to Section  4(a) by the  fourth  (4th)  Trading  Day after the Date of
Exercise,  the Company shall pay to such Holder, in cash, as liquidated  damages
and not as a penalty,  the lesser of (A) $5,000 and (B) $0.10 per Warrant  Share
for which a certificate was not timely  delivered  pursuant to the terms hereof,
for each day after such fourth  (4th)  Trading Day until such  certificates  are
delivered.  Nothing  herein  shall  limit the  Holder's  right to pursue  actual
damages for the Company's failure to deliver certificates representing shares of
Common Stock upon  exercise  within the period  specified  herein and the Holder
shall have the right to pursue all remedies  available to it at law or in equity
including,   without  limitation,   a  decree  of  specific  performance  and/or
injunctive relief. The exercise of any such rights shall not prohibit the Holder
from seeking to enforce  damages  pursuant to any other Section  hereof or under
applicable law.

            (c) In addition to any other rights available to the Holder,  if the
Company fails to deliver to the Holder certificate or certificates  representing
the Warrant  Shares  pursuant to Section  4(a) by the fourth  (4th)  Trading Day
after the Date of  Exercise,  and if after such  fourth  (4th)  Trading  Day the
Holder purchases (in an open market  transaction or otherwise)  shares of Common
Stock to deliver in  satisfaction  of a sale by the Holder of the Warrant Shares
which the Holder anticipated receiving upon such exercise (a "Buy-In"), then the
Company shall pay (1) in cash to the Holder the amount by which (x) the Holder's
total purchase price (including brokerage commissions, if any) for the shares of
Common Stock so purchased exceeds (y) the amount obtained by multiplying (A) the

<PAGE>

number of Warrant  Shares that the Company was  required to deliver  pursuant to
Section 4(b) to the Holder in  connection  with the exercise at issue by (B) the
Per Share Market Value on the Date of Exercise and (2) deliver to the Holder the
number of shares of Common  Stock that would  have been  issued had the  Company
timely complied with its exercise and delivery  obligations  under Section 4(b).
For example,  if the Holder purchases Common Stock having a total purchase price
of $11,000 to cover a Buy-In with respect to an attempted  exercise of shares of
Common Stock with a market price on the date of exercise which totaled  $10,000,
under clause (A) of the  immediately  preceding  sentence  the Company  shall be
required to pay the Holder $1,000.  The Holder shall provide the Company written
notice indicating the amounts payable to the Holder in respect of the Buy-In.

            (d) The Company's obligations to issue and deliver Warrant Shares in
accordance with the terms hereof are absolute and unconditional, irrespective of
any action or inaction by the Holder to enforce the same,  any waiver or consent
with respect to any provision  hereof,  the recovery of any judgment against any
Person  or  any  action  to  enforce  the  same,  or any  setoff,  counterclaim,
recoupment,  limitation or  termination,  or any breach or alleged breach by the
Holder or any other Person of any  obligation to the Company or any violation or
alleged violation of law by the Holder or any other Person,  and irrespective of
any other  circumstance  which  might  otherwise  limit such  obligation  of the
Company to the Holder in connection with the issuance of Warrant Shares.  If the
Company  breaches its obligations  under this Warrant,  then, in addition to any
other  liabilities the Company may have hereunder and under  applicable law, the
Company  shall pay or reimburse the Holder on demand for all costs of collection
and enforcement (including reasonable attorneys fees and expenses).

      5.  Payment of Taxes.  The Company  will pay all  documentary  stamp taxes
attributable  to the  issuance  of  Warrant  Shares  upon the  exercise  of this
Warrant;  provided,  however,  that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the registration
of any  certificates for Warrant Shares or Warrants in a name other than that of
the Holder. The Holder shall be responsible for all other tax liability that may
arise as a result of holding or transferring  this Warrant or receiving  Warrant
Shares upon exercise hereof.

      6. Replacement of Warrant.  If this Warrant is mutilated,  lost, stolen or
destroyed,  the  Company  shall  issue or cause to be  issued  in  exchange  and
substitution for and upon  cancellation  hereof,  or in lieu of and substitution
for this Warrant,  a New Warrant,  but only upon receipt of evidence  reasonably
satisfactory to the Company of such loss, theft or destruction and customary and
reasonable  indemnity,  if  requested.  Applicants  for a New Warrant under such
circumstances  shall also  comply  with such other  reasonable  regulations  and
procedures and pay such other reasonable charges as the Company may prescribe.

      7.  Reservation of Warrant Shares.  The Company  covenants that it will at
all times reserve and keep  available out of the aggregate of its authorized but
unissued  Common  Stock,  solely for the purpose of enabling it to issue Warrant
Shares upon exercise of this Warrant as herein  provided,  the number of Warrant
Shares which are then issuable and deliverable  upon the exercise of this entire
Warrant,  free from preemptive  rights or any other actual  contingent  purchase
rights of persons other than the Holder (taking into account the adjustments and
restrictions  of Section 8). The Company  covenants that all Warrant Shares that
shall be so issuable and deliverable shall, upon issuance and the payment of the
applicable  Exercise  Price in  accordance  with the terms  hereof,  be duly and
validly authorized, issued and fully paid and nonassessable.

<PAGE>

      8. Certain  Adjustments.  The Exercise  Price and number of Warrant Shares
issuable upon  exercise of this Warrant are subject to  adjustment  from time to
time as set forth in this  Section.  Upon each such  adjustment  of the Exercise
Price  pursuant  to this  Section,  the  Holder  shall  thereafter  prior to the
Expiration  Date be entitled to purchase,  at the Exercise Price  resulting from
such  adjustment,  the number of Warrant  Shares  obtained  by  multiplying  the
Exercise Price in effect  immediately  prior to such adjustment by the number of
Warrant  Shares  issuable  upon  exercise of this Warrant  notwithstanding  such
adjustment and dividing the product thereof by the Exercise Price resulting from
such adjustment.

            (i) If the Company,  at any time while this Warrant is  outstanding,
(i) shall pay a stock dividend (except  scheduled  dividends paid on outstanding
preferred  stock as of the date hereof which contain a stated  dividend rate) or
otherwise make a distribution or  distributions on shares of its Common Stock or
on any other  class of capital  stock  payable in shares of Common  Stock,  (ii)
subdivide  outstanding shares of Common Stock into a larger number of shares, or
(iii)  combine  outstanding  shares of  Common  Stock  into a smaller  number of
shares,  the  Exercise  Price  shall be  multiplied  by a fraction  of which the
numerator  shall be the  number of shares of Common  Stock  (excluding  treasury
shares, if any) outstanding before such event and of which the denominator shall
be the number of shares of Common  Stock  (excluding  treasury  shares,  if any)
outstanding after such event. Any adjustment made pursuant to this Section shall
become  effective  immediately  after the record date for the  determination  of
stockholders  entitled to receive such dividend or distribution and shall become
effective  immediately  after the effective date in the case of a subdivision or
combination, and shall apply to successive subdivisions and combinations.

            (ii) In case of any  reclassification  of the  Common  Stock  or any
compulsory  share exchange  pursuant to which the Common Stock is converted into
other  securities,  cash or  property,  then the  Holder  shall  have the  right
thereafter  to  exercise  this  Warrant  only into the shares of stock and other
securities  and  property  receivable  upon or deemed to be held by  holders  of
Common Stock following such  reclassification,  transfer or share exchange,  and
the  Holder  shall be  entitled  upon  such  event to  receive  such  amount  of
securities or property  equal to the amount of Warrant  Shares such Holder would
have been entitled to had such Holder exercised this Warrant  immediately  prior
to such  reclassification,  transfer  or share  exchange.  The terms of any such
consolidation, merger, sale, transfer or share exchange shall include such terms
so as to continue to give to the Holder the right to receive the  securities  or
property set forth in this Section  8(b) upon any  exercise  following  any such
reclassification, transfer or share exchange.

            (iii) If the Company, at any time while this Warrant is outstanding,
shall  distribute  to all  holders  of Common  Stock (and not to holders of this
Warrant)  evidences  of its  indebtedness  or assets or  rights or  warrants  to
subscribe for or purchase any security  (excluding those referred to in Sections
8(i),  (ii) and  (iv)),  then in each  such  case the  Exercise  Price  shall be
determined by multiplying the Exercise Price in effect  immediately prior to the
record date fixed for  determination  of  stockholders  entitled to receive such
distribution by a fraction of which the denominator  shall be the Exercise Price
determined  as of the record date  mentioned  above,  and of which the numerator

<PAGE>

shall be such Exercise Price on such record date less the then fair market value
at such record date of the portion of such assets or evidence of indebtedness so
distributed applicable to one outstanding share of Common Stock as determined by
the Company's  independent  certified public accountants that regularly examines
the financial statements of the Company (an "Appraiser").

            (iv) In case of any (1) merger or  consolidation of the Company with
or into another Person,  or (2) sale by the Company of more than one-half of the
assets of the  Company (on a market  value  basis) in one or a series of related
transactions,  or (3) tender or other offer or exchange  (whether by the Company
or another  Person)  pursuant to which  holders of Common Stock are permitted to
tender or exchange their shares for other securities, stock, cash or property of
the Company or another Person;  then the Holder shall have the right  thereafter
to (A) exercise this Warrant for the shares of stock and other securities,  cash
and  property  receivable  upon or deemed to be held by holders of Common  Stock
following such merger,  consolidation  or sale, and the Holder shall be entitled
upon  such  event or  series  of  related  events  to  receive  such  amount  of
securities,  cash and property as the Common Stock for which this Warrant  could
have been exercised  immediately  prior to such merger,  consolidation  or sales
would have been entitled, (B) in the case of a merger or consolidation,  require
the  surviving  entity to issue to the Holder a warrant  entitling the Holder to
acquire  shares of such entity's  common  stock,  which warrant shall have terms
identical mutatis mutandis  (including with respect to exercise) to the terms of
this Warrant and shall be entitled to all of the rights and privileges set forth
herein and the agreements  pursuant to which this Warrant was issued (including,
without limitation,  as such rights relate to the acquisition,  transferability,
registration and listing of such shares of stock other securities  issuable upon
exercise  thereof),  or (C) in the event of an exchange or tender offer or other
transaction  contemplated by clause (3) of this Section, tender or exchange this
Warrant for such securities,  stock, cash and other property  receivable upon or
deemed to be held by holders of Common  Stock that have  tendered  or  exchanged
their shares of Common Stock  following such tender or exchange,  and the Holder
shall be  entitled  upon  such  exchange  or tender to  receive  such  amount of
securities,  cash and  property  as the  shares of Common  Stock for which  this
Warrant could have been exercised  immediately  prior to such tender or exchange
would have been  entitled as would have been issued.  In the case of clause (B),
the exercise  price  applicable for the newly issued warrant shall be based upon
the amount of  securities,  cash and  property  that each share of Common  Stock
would receive in such  transaction and the Exercise Price  immediately  prior to
the  effectiveness or closing date for such  transaction.  The terms of any such
merger, sale,  consolidation,  tender or exchange shall include such terms so as
continue  to give the  Holder  the right to  receive  the  securities,  cash and
property set forth in this Section upon any  conversion or redemption  following
such event. This provision shall similarly apply to successive such events.

            (v) For the purposes of this Section 8, the following  clauses shall
also be applicable:

                  (i) Record  Date.  In case the Company  shall take a record of
            the holders of its Common  Stock for the purpose of  entitling  them
            (A) to receive a dividend  or other  distribution  payable in Common
            Stock or in securities  convertible or  exchangeable  into shares of
            Common Stock,  or (B) to subscribe  for or purchase  Common Stock or

<PAGE>

            securities  convertible or exchangeable into shares of Common Stock,
            then such record date shall be deemed to be the date of the issue or
            sale of the  shares of Common  Stock  deemed to have been  issued or
            sold upon the  declaration  of such  dividend  or the making of such
            other  distribution  or the date of the  granting  of such  right of
            subscription or purchase, as the case may be.

                  (ii)  Treasury  Shares.  The number of shares of Common  Stock
            outstanding at any given time shall not include shares owned or held
            by or for the account of the  Company,  and the  disposition  of any
            such shares shall be considered an issue or sale of Common Stock.

            (vi) All  calculations  under  this  Section  8 shall be made to the
nearest cent or the nearest 1/100th of a share, as the case may be.

            (vii)  Whenever the Exercise  Price is adjusted  pursuant to Section
8(iii) above, the Holder,  after receipt of the  determination by the Appraiser,
shall  have the  right to  select  an  additional  appraiser  (which  shall be a
nationally  recognized  accounting  firm), in which case the adjustment shall be
equal to the average of the adjustments recommended by each of the Appraiser and
such  appraiser.  The Holder  shall  promptly  mail or cause to be mailed to the
Company,  a notice  setting forth the Exercise  Price after such  adjustment and
setting forth a brief  statement of the facts  requiring such  adjustment.  Such
adjustment  shall become effective  immediately  after the record date mentioned
above.

            (viii) If (i)the  Company  shall  declare a  dividend  (or any other
distribution)  on its Common  Stock;  (ii) the Company  shall  declare a special
nonrecurring  cash dividend on or a redemption  of its Common  Stock;  (iii) the
Company  shall  authorize the granting to all holders of the Common Stock rights
or warrants to  subscribe  for or  purchase  any shares of capital  stock of any
class or of any rights;  (iv) the  approval of any  stockholders  of the Company
shall be required in connection with any  reclassification  of the Common Stock,
any  consolidation  or  merger  to which  the  Company  is a party,  any sale or
transfer  of all or  substantially  all of the  assets  of the  Company,  or any
compulsory  share  exchange  whereby the Common  Stock is  converted  into other
securities,  cash or property;  or (v) the Company shall authorize the voluntary
dissolution,  liquidation or winding up of the affairs of the Company,  then the
Company shall cause to be mailed to each Holder at their last  addresses as they
shall appear upon the Warrant  Register,  at least twenty calendar days prior to
the applicable record or effective date hereinafter  specified, a notice stating
(x) the date on which a record is to be taken for the purpose of such  dividend,
distribution,  redemption, grant of rights or warrants, or if a record is not to
be taken,  the date as of which  the  holders  of  Common  Stock of record to be
entitled to such dividend, distributions,  redemption, rights or warrants are to
be  determined  or (y) the date on which such  reclassification,  consolidation,
merger,  sale,  transfer or share  exchange is expected to become  effective  or
close,  and the date as of which it is expected  that holders of Common Stock of
record  shall  be  entitled  to  exchange  their  shares  of  Common  Stock  for
securities,  cash or other  property  deliverable  upon  such  reclassification,
consolidation,  merger, sale, transfer, share exchange, dissolution, liquidation
or winding up;  provided,  however,  that the failure to mail such notice or any
defect  therein or in the mailing  thereof  shall not affect the validity of the
corporate action required to be specified in such notice.

<PAGE>

9.   Payment of Exercise Price.  The Holder may pay the Exercise Price in one of
     the following manners:

(a)  Cash Exercise. The Holder shall deliver immediately available funds; or

(b)  Cashless  Exercise.  The Holder may  surrender  this Warrant to the Company
     together  with a notice of  cashless  exercise,  in which event the Company
     shall  issue to the  Holder  the number of  Warrant  Shares  determined  as
     follows:

                        X = Y (A-B)/A where:
                        X = the  number  of  Warrant  Shares to be issued to the
Holder.

                        Y = the number of Warrant  Shares with  respect to which
                        this Warrant is being exercised.

                        A = the average of the closing sale prices of the Common
                        Stock on the AMEX or a  Subsequent  Market  for the five
                        (5)  trading   days   immediately   prior  to  (but  not
                        including) the Date of Exercise as reported by Bloomberg
                        Information  Systems,  Inc.  (or  any  successor  to its
                        function of reporting stock prices).

                        B = the Exercise Price.

For purposes of Rule 144  promulgated  under the Securities Act, it is intended,
understood  and  acknowledged  that the  Warrant  Shares  issued  in a  cashless
exercise  transaction  shall be deemed to have been acquired by the Holder,  and
the  holding  period  for the  Warrant  Shares  shall  be  deemed  to have  been
commenced, on the issue date of this Warrant.

      10.   Certain Exercise Restrictions.

(a) A Holder may not  exercise  this Warrant to the extent such  exercise  would
result in the Holder,  together with any affiliate thereof,  beneficially owning
(as  determined  in  accordance  with Section  13(d) of the Exchange Act and the
rules  promulgated  thereunder)  in  excess of  9.999%  of the then  issued  and
outstanding  shares of Common Stock,  including  shares of Common Stock issuable
upon such  exercise and held by such Holder after  application  of this Section.
Since the Holder  will not be  obligated  to report to the Company the number of
shares of Common Stock it may hold at the time of an exercise hereunder,  unless
the  exercise at issue would result in the issuance of shares of Common Stock in
excess of 9.999% of the then  outstanding  shares of Common Stock without regard
to any other  shares  of Common  Stock  which may be  beneficially  owned by the
Holder  or an  affiliate  thereof,  the  Holder  shall  have the  authority  and
obligation to determine  whether the restriction  contained in this Section will
limit any  particular  exercise  hereunder  and to the  extent  that the  Holder
determines  that  the  limitation   contained  in  this  Section  applies,   the

<PAGE>

determination  of which  portion  of this  Warrant is  exercisable  shall be the
responsibility  and obligation of the Holder. If the Holder has delivered a Form
of Election to Purchase for a number of Warrant  Shares that would result in the
issuance in excess of the permitted amount  hereunder,  the Company shall notify
the Holder of this fact and shall honor the exercise for the maximum  portion of
this Warrant  permitted  to be exercised on such Date of Exercise in  accordance
with the  periods  described  herein and  disregard  the balance of such Form of
Election to Purchase,  as if never  delivered The provisions of this Section may
be waived by a Holder (but only as to itself and not to any other  Holder)  upon
not less than 61 days'  prior  notice to the  Company.  Other  Holders  shall be
unaffected by any such waiver.

            (b) If the Company  Stock is then listed for trading on the AMEX and
the Company has not obtained the Shareholder  Approval (as defined below),  then
the Company may not issue in excess of the Issuable  Maximum (as defined herein)
Warrant  Shares upon  exercise of this Warrant at a price per share that is less
than the closing sale price of the Common  Stock on the Trading Day  immediately
preceding the Original Issue Date. The Issuable  Maximum equals 3,400,297 (which
number shall be subject to adjustment  pursuant to the anti-dilution  provisions
set  forth in  Sections  8(i)-(iii))  multiplied  by the  quotient  obtained  by
dividing (x) the number of Shares issued and sold to the original  Holder on the
Closing  Date by (y) the number of Shares  issued and sold by the Company on the
Closing Date.  The Parties  agree that the Issuable  Maximum shall be lowered by
the number of shares of Common  Stock,  if any,  issued at a price less than the
closing  price of the Common Stock on December 8, 1999  pursuant to the Warrants
to  Advantage  Fund II Ltd and  Koch  Investment  Group  Ltd.  If on any Date of
Exercise  (such date, the "Trigger  Date"):  (A) the Company Stock is listed for
trading on the AMEX,  (B) the  aggregate  number of shares of Common  Stock that
would then be issuable upon exercise in full of this Warrant,  together with any
shares of Common Stock  previously  issued upon exercise of this Warrant,  would
equal or  exceed  the  Issuable  Maximum,  and (C) the  Company  shall  not have
previously obtained the vote of shareholders,  if any, as may be required by the
applicable  rules and  regulations of the American Stock Exchange to approve the
issuance of shares of Common Stock in excess of the Issuable Maximum pursuant to
the terms hereof (the "Shareholder  Approval"),  then the Company shall issue to
the Holder a number of shares of Common Stock equal to the Issuable Maximum and,
with respect to the shares whose  issuance would result in an issuance of shares
of  Common  Stock in  excess  of the  Issuable  Maximum,  (the  "Excess  Warrant
Shares"),  the Company shall, within three (3) Trading Days of the Trigger Date,
provide the Holder with  written  notice of its  intention to either (1) use its
best efforts to obtain the Shareholder  Approval  applicable to such issuance as
soon as possible, but in any event no later than 60 days (or 90 days in case the
Commission  provides the Company with comments to its proxy  material) after the
Trigger Date (such 60th day or 90th day, if  applicable,  the "Target  Date") or
(2) pay to the Holder,  within three (3) Trading Days from the Trigger  Date, an
amount in cash equal to the product of (x) the Excess Warrant Shares  multiplied
by (y) the closing sales price of the Common Stock on (a) the Target Date or (b)
the Trigger Date,  whichever is greater (the "Cash  Payment").  A failure by the
Company to timely  provide  the Holder  with a written  notice  pursuant  to the
immediately  preceding  sentence,  shall  entail an  automatic  election  by the
Company  to pay the Cash  Payment to the  Holder  pursuant  to clause (2) of the
immediately preceding sentence. In the event the Company has elected to seek the
Shareholder  Approval  pursuant  to the terms  hereof and the  Company  does not
obtain the  Shareholder  Approval on or prior to the Target Date,  then,  on the
Target  Date,  the  Company  shall pay the Cash  Payment to the  Holder.  If the
Company  fails to pay the Cash Payment in full  pursuant to this Section  within
seven (7) days after the date  payable,  the Company  will pay  interest on such

<PAGE>

amount  at a rate of 18%  per  annum,  or such  lesser  maximum  amount  that is
permitted to be paid by applicable  law, to the Holder,  accruing daily from the
date payable until such amount, plus all such interest thereon, is paid in full.
The Company  and the Holder  understand  and agree that  shares of Common  Stock
issued upon exercise of this Warrant and then held by the Holder or an affiliate
thereof may not be used to cast votes or be deemed  outstanding  for purposes of
any vote to obtain  the  Shareholder  Approval.  In the event  the  Company  has
elected to seek the  Shareholder  Approval  pursuant  to the terms  hereof,  the
Company  shall not be required  to make any  payments  pursuant to Section  4(b)
hereof prior to the date the Company has obtained the Shareholder Approval.

      11.   [intentionally left bank]

      12. Fractional Shares. The Company shall not be required to issue or cause
to be issued  fractional  Warrant  Shares on the exercise of this  Warrant.  The
number of full Warrant  Shares which shall be issuable upon the exercise of this
Warrant shall be computed on the basis of the aggregate number of Warrant Shares
purchasable  on  exercise of this  Warrant so  presented.  If any  fraction of a
Warrant Share would,  except for the  provisions of this Section 12, be issuable
on the exercise of this  Warrant,  the Company shall pay an amount in cash equal
to the Exercise Price multiplied by such fraction.

      13.  Notices.  Any and all notices or other  communications  or deliveries
hereunder  shall be in writing and shall be deemed  given and  effective  on the
earliest of (i) the date of  transmission,  if such notice or  communication  is
delivered  via  facsimile at the facsimile  telephone  number  specified in this
Section  prior to 5:00 p.m.  (New York City  time) on a Business  Day,  (ii) the
Business Day after the date of transmission,  if such notice or communication is
delivered  via  facsimile at the facsimile  telephone  number  specified in this
Section  later than 5:00 p.m.  (New York City time) on any date and earlier than
11:59 p.m.  (New York City time) on such date,  (iii) the Business Day following
the date of mailing, if sent by nationally  recognized overnight courier service
with next day delivery  specified  thereon,  or (iv) upon actual  receipt by the
party to whom  such  notice is  required  to be given.  The  addresses  for such
communications  shall be: (i) if to the Company, to 8229 Boone Boulevard,  Suite
802, Vienna,  Virginia 22182;  facsimile number (703) 506-9471,  attention Geert
Kersten,  or (ii) if to the Holder,  to the Holder at the  address or  facsimile
number  appearing  on the Warrant  Register or such other  address or  facsimile
number as the Holder may provide to the Company in accordance  with this Section
13.

<PAGE>

      14.   Warrant Agent.

            (a) The  Company  shall serve as warrant  agent under this  Warrant.
Upon  thirty  (30) days'  notice to the  Holder,  the  Company may appoint a new
warrant agent.

            (b) Any corporation  into which the Company or any new warrant agent
may be merged or any corporation  resulting from any  consolidation to which the
Company or any new warrant  agent shall be a party or any  corporation  to which
the  Company  or  any  new  warrant  agent  transfers  substantially  all of its
corporate trust or shareholders  services  business shall be a successor warrant
agent under this Warrant  without any further act.  Any such  successor  warrant
agent shall  promptly  cause  notice of its  succession  as warrant  agent to be
mailed (by first class mail, postage prepaid) to the Holder at the Holder's last
address as shown on the Warrant Register.

      15.   Miscellaneous.

            (a) This Warrant shall be binding on and inure to the benefit of the
parties  hereto and their  respective  successors  and permitted  assigns.  This
Warrant may be amended only in writing  signed by the Company and the Holder and
their successors and assigns.

            (b) Subject to Section 15(a),  above,  nothing in this Warrant shall
be construed to give to any person or corporation other than the Company and the
Holder any legal or equitable  right,  remedy or cause under this Warrant.  This
Warrant  shall  inure to the sole and  exclusive  benefit of the Company and the
Holder.

            (c) The  corporate  laws of the State of Colorado  shall  govern all
issues concerning the relative rights of the Company and its  stockholders.  All
other  questions   concerning  the  construction,   validity,   enforcement  and
interpretation  of this Warrant  shall be governed by and construed and enforced
in accordance with the internal laws of the State of New York, without regard to
the principles of conflicts of law thereof.

            (d) The headings herein are for convenience  only, do not constitute
a part of this  Warrant  and shall  not be deemed to limit or affect  any of the
provisions hereof.

            (e) In case any one or more of the  provisions of this Warrant shall
be invalid or unenforceable in any respect,  the validity and  enforceability of
the  remaining  terms and  provisions  of this  Warrant  shall not in any way be
affected or impaired thereby and the parties will attempt in good faith to agree
upon a valid and enforceable provision which shall be a commercially  reasonable
substitute  therefor,  and upon so agreeing,  shall  incorporate such substitute
provision in this Warrant.

                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK,
                            SIGNATURE PAGE FOLLOWS]

<PAGE>

            IN WITNESS  WHEREOF,  the Company has caused this Warrant to be duly
executed by its authorized officer as of the date first indicated above.

                                    CEL-SCI CORPORATION

                                    By:

                                    Name:

                                    Title:

<PAGE>

                          FORM OF ELECTION TO PURCHASE

(To be executed by the Holder to exercise the right to purchase shares of Common
Stock under the foregoing Warrant)

To Cel-Sci Corporation:

      In  accordance  with the  Warrant  enclosed  with this Form of Election to
Purchase,  the undersigned hereby  irrevocably elects to purchase  _____________
shares of Common Stock ("Common  Stock"),  $.01 par value per share,  of Cel-Sci
Corporation  and,  if  such  Holder  is  not  utilizing  the  cashless  exercise
provisions  set forth in this  Warrant,  encloses  herewith  $________  in cash,
certified or official bank check or checks,  which sum  represents the aggregate
Exercise  Price (as defined in the  Warrant)  for the number of shares of Common
Stock to which this Form of  Election  to Purchase  relates,  together  with any
applicable taxes payable by the undersigned pursuant to the Warrant.

      The undersigned  requests that certificates for the shares of Common Stock
issuable upon this exercise be issued in the name of

                                          PLEASE INSERT SOCIAL SECURITY OR
                                          TAX IDENTIFICATION NUMBER

                        (Please print name and address)

      If the number of shares of Common Stock  issuable upon this exercise shall
not be all of the shares of Common  Stock which the  undersigned  is entitled to
purchase in accordance with the enclosed Warrant,  the undersigned requests that
a New Warrant (as defined in the Warrant)  evidencing  the right to purchase the
shares of Common Stock not issuable pursuant to the exercise evidenced hereby be
issued in the name of and delivered to:

                        (Please print name and address)

<PAGE>

Dated:     __________                Name of Holder:

                                    (Print)

                                     (By:)
                                     (Name:)
                                     (Title:)
                                    (Signature  must  conform in all respects to
                                     name of holder as specified on the face of
                                     the Warrant)

<PAGE>

                               FORM OF ASSIGNMENT

          [To be completed and signed only upon transfer of Warrant]

      FOR VALUE RECEIVED,  the undersigned  hereby sells,  assigns and transfers
unto  ________________________________  the  right  represented  by  the  within
Warrant to purchase  ____________  shares of Common Stock of Cel-Sci Corporation
to which the within Warrant  relates and appoints  ________________  attorney to
transfer  said  right on the books of  Cel-Sci  Corporation  with full  power of
substitution in the premises.

Dated:

---------------, ----

                              ---------------------------------------
                              (Signature  must  conform in all respects to name
                              of holder as specified on the face of the Warrant)

                              ---------------------------------------
                              Address of Transferee

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

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

In the presence of:

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

<PAGE>

                                    EXHIBIT A

      For purposes of this Warrant:

      (i) "AMEX" shall mean the American Stock Exchange.

      (ii)  "Business  Day"  means  any day  except  Saturday,  Sunday,  the day
following Christmas, the day following Thanksgiving and any day which shall be a
federal legal holiday or a day on which banking institutions in the State of New
York and the  Commonwealth  of Virginia  generally are authorized or required by
law or other governmental action to close.

      (iii)  "Closing  Date" shall have the  meaning  set forth in the  Purchase
Agreement.

      (iv) "Commission" means the Securities and Exchange Commission.

      (v) "Per Share Market Value" means on any particular  date (a) the closing
bid  price  per  share of the  Common  Stock on such  date on the AMEX or on any
Subsequent  Market,  or if there is no such price on such date, then the closing
bid price on the AMEX or on such Subsequent Market on the date nearest preceding
such date,  or (b) if the Common  Stock is not then listed or quoted on the AMEX
or a Subsequent Market, the closing bid price for a share of Common Stock in the
over-the-counter   market,   as  reported  by  the  National   Quotation  Bureau
Incorporated or similar  organization  or agency  succeeding to its functions of
reporting  prices) at the close of business  on such date,  or (c) if the Common
Stock is not then reported by the National  Quotation  Bureau  Incorporated  (or
similar organization or agency succeeding to its functions of reporting prices),
then the average of the "Pink Sheet" quotes for the relevant  conversion period,
as  determined  in good faith by the Holder,  or (d) if the Common  Stock is not
then  publicly  traded  the fair  market  value of a share  of  Common  Stock as
determined  by an appraiser  selected in good faith by the Holders of a majority
of the applicable Warrant Shares.

      (vi) "Purchase  Agreement" means the Securities Purchase Agreement,  dated
the date  hereof to which the Company  and the  original  Holder are parties and
pursuant to which this Warrant was issued.

      (vii)  "Registration  Rights  Agreement"  means  the  Registration  Rights
Agreement,  dated the date hereof to which the Company and the  original  Holder
are parties.

    (viii)  "Shares" shall have the meaning set forth in the Purchase Agreement.

      (ix)  "Subsequent  Market" shall mean any of the New York Stock  Exchange,
Inc., Nasdaq Stock Market or Nasdaq SmallCap Market.

<PAGE>

      (x) "Trading  Day" means a day on which the Common Stock is traded on AMEX
or any Subsequent  Market, as the case may be, or (b) if the Common Stock is not
listed on the AMEX or on a Subsequent Market, a day on which the Common Stock is
traded in the over-the-counter market, as reported by the OTC Bulletin Board, or
(c) if the Common Stock is not quoted on the OTC  Bulletin  Board a day on which
the Common  Stock is quoted in the  over-the-counter  market as  reported by the
National  Quotation Bureau  Incorporated (or any similar  organization or agency
succeeding its functions of reporting  price);  provided,  however,  that in the
event that the Common Stock is not listed or quoted, as set forth in (a), (b) or
(c) hereof, the Trading Day shall mean a Business Day.

      (xi)  "Transaction  Documents"  shall  have the  meaning  set forth in the
Purchase Agreement.

      (xii)  "Underlying  Shares  Registration  Statement"  means a registration
statement  meeting  the  requirements  set  forth  in  the  Registration  Rights
Agreement  dated as of the date hereof  between  the  Company  and the  original
Holder  hereof and  covering  the resale of the  Registrable  Securities  by the
selling stockholders thereunder.

<PAGE>

                                    ADDENDUM

      Reference is made to the attached warrants, each dated December 8, 1999 of
Cel-Sci Corporation to Advantage Fund II Ltd. and Koch Investment Group Ltd (the
"Warrants").

      Notwithstanding  anything to the contrary set forth in the  Warrants,  the
Issuable  Maximum under Section  10(c)of each Warrant shall equal 3,400,297 less
the number of shares of Common Stock,  if any,  issued under the warrants  dated
March 14, 2000 to Advantage Fund II Ltd. and Koch Investment Group Ltd.

      The parties agree that this  Addendum  serves to amend the Warrants to the
extent  required  to carry out the intent  hereby.  Except as so  modified,  the
Warrants are unaffected and remain in full force and effect.

CEL-SCI CORPORATION

By:   _____________________________________
      Name:
      Title:

ADVANTAGE FUND II LTD.

By:   _____________________________________
      Name:
      Title:

KOCH INVESTMENT GROUP LTD.

By:   _____________________________________
      Name:
      Title:REGISTRATION RIGHTS AGREEMENT

      This Registration  Rights Agreement (this "Agreement") is made and entered
into as of March 15, 2000,  among Cel-Sci  Corporation,  a Colorado  corporation
(the  "Company"),  and the investors  signatory  hereto (each such investor is a
"Purchaser" and all such investors are, collectively, the "Purchasers").

      This  Agreement is made  pursuant to the  Securities  Purchase  Agreement,
dated as of the date hereof, among the Company and the Purchasers (the "Purchase
Agreement").

      In  consideration  of the  mutual  covenants  contained  in  the  Purchase
Agreement and in this Agreement,  the Company and the Purchasers hereby agree as
follows:

1.    Definitions

      Capitalized  terms used and not otherwise  defined herein that are defined
in the  Purchase  Agreement  shall  have the  meanings  given  such terms in the
Purchase  Agreement.  As used in this Agreement,  the following terms shall have
the following meanings:

      "Adjustable Warrants" shall have the meaning set forth in the Purchase
Agreement.

      "Affiliate"  means,  with  respect to any  Person,  any other  Person that
directly or indirectly controls or is controlled by or under common control with
such Person.  For the  purposes of this  definition,  "control,"  when used with
respect to any Person, means the possession, direct or indirect, of the power to
direct or cause the  direction  of the  management  and policies of such Person,
whether  through the ownership of voting  securities,  by contract or otherwise;
and the terms of  "affiliated,"  "controlling"  and  "controlled"  have meanings
correlative to the foregoing.

      "Business Day" means any day except  Saturday,  Sunday,  the day following
Christmas,  the date following Thanksgiving and any day which shall be a federal
legal  holiday or a day on which banking  institutions  in the state of New York
and the Commonwealth of Virginia  generally are authorized or required by law or
other governmental action to close.

   "Closing Date" shall have the meaning set forth in the Purchase Agreement.

  "Closing Warrants" shall have the meaning set forth in the Purchase Agreement.

  "Commission" means the Securities and Exchange Commission.

      "Common Stock" means the Company's common stock,  $.01 par value per share
and any other  securities into which such stock shall hereafter be redistributed
or recapitalized.

      "Effectiveness Date" means the 90th day following the Closing Date.

<PAGE>

      "Effectiveness Period" shall have the meaning set forth in Section 2(a).

      "Exchange Act" means the Securities Exchange Act of 1934, as amended.

      "Filing  Date"  means  April 14,  2000,  or, if later,  the  Business  Day
following the effectiveness of Registration Statement number 333-94675.

      "Holder" or  "Holders"  means the holder or  holders,  as the case may be,
from time to time of Registrable Securities.

      "Indemnified Party" shall have the meaning set forth in Section 5(c).

      "Indemnifying Party" shall have the meaning set forth in Section 5(c).

      "Losses" shall have the meaning set forth in Section 5(a).

      "Person"  means  an  individual  or  a  corporation,  partnership,  trust,
incorporated or  unincorporated  association,  joint venture,  limited liability
company, joint stock company,  government (or an agency or political subdivision
thereof) or other entity of any kind.

      "Proceeding"  means an action,  claim,  suit,  investigation or proceeding
(including,  without limitation, an investigation or partial proceeding, such as
a deposition), whether commenced or threatened.

      "Prospectus"  means  the  prospectus  included  a  Registration  Statement
(including,  without  limitation,  a prospectus  that  includes any  information
previously omitted from a prospectus filed as part of an effective  registration
statement in reliance upon Rule 430A  promulgated  under the Securities Act), as
amended or supplemented by any prospectus supplement,  with respect to the terms
of the  offering of any portion of the  Registrable  Securities  covered by such
Registration  Statement,  and  all  other  amendments  and  supplements  to  the
Prospectus,  including post-effective  amendments, and all material incorporated
by reference or deemed to be incorporated by reference in such Prospectus.

      "Registrable  Securities"  means  (i) the  Shares  and (ii) the  shares of
Common Stock issuable upon exercise of the Warrants.

      "Registration   Statement"  means  the  registration   statement  and  any
additional  registration  statement  contemplated by Section 2(a), including (in
each case) the  Prospectus,  amendments  and  supplements  to such  registration
statement or  Prospectus,  including  pre- and  post-effective  amendments,  all
exhibits  thereto,  and all material  incorporated  by reference or deemed to be
incorporated by reference in such registration statement.

      "Rule 144" means Rule 144  promulgated by the  Commission  pursuant to the
Securities  Act, as such Rule may be amended  from time to time,  or any rule or
regulation hereafter adopted by the Commission to replace such Rule.

<PAGE>

      "Rule 415" means Rule 415  promulgated by the  Commission  pursuant to the
Securities  Act, as such Rule may be amended  from time to time,  or any rule or
regulation hereafter adopted by the Commission to replace such Rule.

      "Rule 424" means Rule 424  promulgated by the  Commission  pursuant to the
Securities  Act, as such Rule may be amended  from time to time,  or any rule or
regulation hereafter adopted by the Commission to replace such Rule.

      "Securities  Act" means the  Securities  Act of 1933, as amended,  and the
rules and regulations promulgated thereunder.

      "Shares"  means the shares of Common Stock issued to the Purchasers on the
Closing Date pursuant to the Purchase Agreement.

      "Special  Counsel" means one special  counsel to the Holders for which the
Holders will be reimbursed by the Company pursuant to Section 4.

       "Transaction Documents" shall have the meaning set forth in the Purchase
 Agreement.

      "Underwritten  Registration or Underwritten Offering" means a registration
in connection  with which  securities of the Company are sold to an  underwriter
for reoffering to the public pursuant to an effective registration statement.

   "Vesting Date" shall have the meaning set forth in the Adjustable Warrants.

      "Warrants" means the Closing Warrants and the Adjustable Warrants.

2.    Shelf Registration

      a. On or prior to the Filing Date, the Company shall prepare and file with
the  Commission  a "Shelf"  Registration  Statement  covering  the resale of all
Registrable Securities for an offering to be made on a continuous basis pursuant
to Rule 415.  The  Registration  Statement  shall be on Form S-3  (except if the
Company is not then eligible to register for resale the  Registrable  Securities
on Form S-3,  in which case such  registration  shall be on another  appropriate
form in accordance  herewith as the Holders may consent).  The Company shall use
its best efforts to cause the  Registration  Statement to be declared  effective
under the Securities Act as promptly as possible after the filing  thereof,  but
in any event prior to the Effectiveness  Date, and shall use its best efforts to
keep such Registration Statement continuously effective under the Securities Act
until  the date  which is two (2) years  after  the date that such  Registration
Statement is declared  effective by the Commission or such earlier date when all
Registrable  Securities covered by such Registration Statement have been sold or
may be sold without volume restrictions pursuant to Rule 144(k) as determined by
the counsel to the Company  pursuant to a written opinion letter to such effect,
addressed  and  acceptable  to the  Company's  transfer  agent and the  affected

<PAGE>

Holders (the "Effectiveness  Period"),  provided,  that the Company shall not be
deemed  to have  used  its  best  efforts  to keep  the  Registration  Statement
effective  during the  Effectiveness  Period if it voluntarily  takes any action
that  would  result  in the  Holders  not  being  able to sell  the  Registrable
Securities  covered by such  Registration  Statement  during  the  Effectiveness
Period,  unless such action is required under  applicable law or the Company has
filed  a  post-effective   amendment  to  the  Registration  Statement  and  the
Commission has not declared it effective.

      b. In order to  account  for the fact that the  number of shares of Common
Stock that are issuable upon exercise of the  Adjustable  Warrants is determined
in part upon the market price of the Common Stock on a Vesting Date, the initial
Registration  Statement to be filed  hereunder shall include (but not be limited
to) a number of shares of Common  Stock equal to no less than the sum of (i) the
number of shares issuable upon exercise of the Adjustable  Warrants on the First
Vesting Date assuming,  for the purposes of this  subsection  that, on the First
Vesting  Period,  the Adjustment  Price is 50% of the Per Share Market Value for
the  Trading Day  immediately  preceding  the Closing  Date and that each Holder
holds the entire  number of Shares  purchased  under the Purchase  Agreement and
(ii) the number of shares issuable upon exercise in full of the Closing Warrants
and (iii) the number of Shares  (the sum of (i),  (ii) and (iii),  the  "Initial
Minimum").

      c.  If the  Holders  of a  majority  of the  Registrable  Securities  then
outstanding  so elect,  an  offering  of  Registrable  Securities  pursuant to a
Registration  Statement  may, after the  Effectiveness  Date, be effected in the
form  of  an  Underwritten  Offering.  In  such  event,  and,  if  the  managing
underwriters  advise the  Company  and such  Holders  in  writing  that in their
opinion  the  amount  of  Registrable  Securities  proposed  to be  sold in such
Underwritten Offering exceeds the amount of Registrable  Securities which can be
sold in such Underwritten Offering, there shall be included in such Underwritten
Offering the amount of such Registrable  Securities which in the opinion of such
managing  underwriters  can be sold, and such amount shall be allocated pro rata
among the Holders proposing to sell Registrable  Securities in such Underwritten
Offering.

      d. If any of the Registrable  Securities are to be sold in an Underwritten
Offering,  the  investment  banker that will  administer  the  offering  will be
selected by the Holders of a majority of the Registrable  Securities included in
such offering upon consultation  with the Company.  No Holder may participate in
any  Underwritten  Offering  hereunder unless such Holder (i) agrees to sell its
Registrable  Securities  on the basis  provided in any  underwriting  agreements
approved by the Persons entitled hereunder to approve such arrangements and (ii)
completes  and executes  all  questionnaires,  powers of attorney,  indemnities,
underwriting  agreements  and other  documents  required under the terms of such
arrangements.

      e. If (i) the initial Registration Statement is not filed on or before the
Filing Date (if the Company files such Registration  Statement without affording
the Holder the  opportunity  to review and  comment on the same as  required  by
Section  3(a) hereof,  the Company  shall not be deemed to have  satisfied  this
clause (i)), or (ii) the Company fails to file with the  Commission a request to
accelerate in accordance  with Rule 461  promulgated  under the  Securities  Act
within five {(5)} days of the date that the  Company is  notified  (orally or in
writing,  whichever is earlier) by the Commission that a Registration  Statement

<PAGE>

will not be "reviewed" or is not subject to further review, or (iii) the initial
Registration  Statement  filed  hereunder  is  not  declared  effective  by  the
Commission on or before the  Effectiveness  Date,  or (iv) after a  Registration
Statement  has been  declared  effective by the  Commission,  such  Registration
Statement is either not effective as to all Registrable  Securities  required to
be covered thereby  throughout the  Effectiveness  Period or the Holders are not
permitted  for any reason to make  sales of all  Registrable  Securities  (which
shall be reduced  by the Excess  Warrant  Shares (as  defined in the  Adjustable
Warrants) during the period, if any, between the time the Company has elected to
obtain the Shareholder  Approval (as defined in the Adjustable Warrants) and the
Target Date)  thereunder  during such  period,  (v) other than in the case of an
Underwritten  Offering, an amendment to the Registration  Statement is not filed
by the Company with the  Commission  within ten days (or thirty days in case the
amendment  includes  responses to comments  received from the  Commission  which
relate to the financial statements of the Company) of the Commission's notifying
the  Company  that  such  amendment  is  required  in order  for a  Registration
Statement to be declared effective, or (vi) trading in the Common Stock shall be
suspended from the AMEX (as defined  herein) or a Subsequent  Market (as defined
herein) for more than three Business Days (which need not be  consecutive  days)
(any such failure or breach being referred to as an "Event," and for purposes of
clauses (i), (iii) and (iv) the date on which such Event occurs, or for purposes
of clause  (ii) the date on which  such  five day  period  is  exceeded,  or for
purposes  of clause  (v) the date on which  such ten day  period  or thirty  day
period, as applicable,  is exceeded,  or for purposes of clause (vi) the date on
which such three  Business  Day period is exceeded  being  referred to as "Event
Date"),  then,  in any such case,  as partial  relief for the  damages  suffered
therefrom  by the  Holder  (which  remedy  shall not be  exclusive  of any other
remedies available at law or in equity), the Company shall on the Event Date and
on each monthly  anniversary thereof until the triggering Event is cured, pay to
the Holder an amount in cash,  as liquidated  damages for the estimated  cost to
the Holders of not having  liquid  securities  in the time  contemplated  by the
Transaction Documents and not as a penalty,  equal to 1.5% of the purchase price
paid by such  Holder for its Shares  pursuant  to the  Purchase  Agreement.  The
payments to which the Holders  shall be  entitled  pursuant to this  Section are
referred to herein as "Registration Delay Payments." Registration Delay Payments
shall be calculated on a cumulative basis and paid within five (5) Business Days
of the Event Date and each monthly anniversary  thereof. If the Company fails to
make Registration  Delay Payments in a timely manner,  such  Registration  Delay
Payments  shall bear interest at the rate of 2.0% per month (or the maximum rate
permitted by law), pro-rated for partial months, until paid in full.

3.    Registration Procedures

      In connection with the Company's registration  obligations hereunder,  the
Company shall:

      a. Prepare and file with the  Commission on or prior to the Filing Date, a
Registration  Statement  on Form S-3 (or if the Company is not then  eligible to
register for resale the  Registrable  Securities  on Form S-3 such  registration
shall be on another appropriate form in accordance  herewith,  or, in connection
with an  Underwritten  Offering  hereunder,  such  other  form  agreed to by the
Company and the Holders) which shall contain the "Plan of Distribution" attached
hereto as Annex A (except if otherwise  directed by the Holders),  and cause the
Registration  Statement  to become  effective  and remain  effective as provided
herein;  provided,  however,  that not less than five (5) Business Days prior to
the  filing  of a  Registration  Statement  or  any  related  Prospectus  or any

<PAGE>

amendment  or  supplement   thereto   (including  any  document  that  would  be
incorporated  or deemed to be  incorporated  therein by reference),  the Company
shall,  (i) furnish to the  Holders,  their  Special  Counsel  and any  managing
underwriters, copies of all such documents proposed to be filed, which documents
(other than those  incorporated  or deemed to be incorporated by reference) will
be  subject  to the  review of such  Holders,  their  Special  Counsel  and such
managing  underwriters,  and (ii) cause its officers and directors,  counsel and
independent  certified public  accountants to respond to such inquiries as shall
be necessary,  in the reasonable  opinion of respective  counsel to such Holders
and such underwriters,  to conduct a reasonable investigation within the meaning
of the Securities Act. The Company shall not file the Registration  Statement or
any such  Prospectus  or any  amendments  or  supplements  thereto  to which the
Holders of a majority of the Registrable  Securities,  their Special Counsel, or
any managing underwriters, shall reasonably object.

      b. (i) Prepare and file with the  Commission  such  amendments,  including
post-effective amendments, to the Registration Statement and the Prospectus used
in connection  therewith as may be necessary to keep the Registration  Statement
continuously  effective  as to the  applicable  Registrable  Securities  for the
Effectiveness  Period and prepare and file with the Commission  such  additional
Registration Statements in order to register for resale under the Securities Act
all of the  Registrable  Securities;  (ii) cause the  related  Prospectus  to be
amended  or  supplemented  by  any  required  Prospectus  supplement,  and as so
supplemented  or  amended to be filed  pursuant  to Rule 424;  (iii)  respond as
promptly as reasonably  possible,  and in any event within ten (10) days, to any
comments received from the Commission with respect to the Registration Statement
or any  amendment  thereto and as promptly as  reasonably  possible  provide the
Holders  true  and  complete  copies  of  all  correspondence  from  and  to the
Commission relating to the Registration Statement, provided, that in the case of
comments  received from the Commission  relating to the financial  statements of
the  Company,  the Company  shall have up to thirty (30) days to respond to such
comments;  and (iv) comply in all material  respects with the  provisions of the
Securities  Act and the  Exchange  Act with  respect to the  disposition  of all
Registrable   Securities  covered  by  the  Registration  Statement  during  the
applicable  period in accordance with the intended methods of disposition by the
Holders thereof set forth in the Registration Statement as so amended or in such
Prospectus as so supplemented.

      c.  (i)  File  additional   Registration   Statements  if  the  number  of
Registrable Securities at any time exceeds 85% of the number of shares of Common
Stock then registered in a Registration Statement. The Company shall have twenty
days to file such additional Registration Statements after its receipt of notice
of the  requirement  thereof  which  the  Holders  may give at any time when the
number of Registrable  Securities  exceeds 85% of the number of shares of Common
Stock then registered in a Registration Statement hereunder.  In such event, the
Registration  Statement  required  to be filed by the  Company  shall  include a
number of shares of  Common  Stock  equal to no less than 200% of the  number of
shares of Common Stock then issuable upon  exchange of the  Adjustable  Warrants
and any other  Registrable  Securities  not then  registered  in a  Registration
Statement.

            (ii) File such supplements or attach  "stickers" to the Registration
Statement or  Prospectus  as and when  required by the  Commission to evidence a
material amount of resales by a Holder  pursuant to a Prospectus.  In connection
therewith,  if such supplements or "stickers" are  periodically  required by the
Commission,  the Company shall, within four Business Days, file such supplements
or attach  such  "stickers"  whenever a Holder  has sold 50% of the  Registrable
Securities  covered by the then outstanding  Prospectus (as last supplemented or
"stickered") in order to cover 100% of the number of the outstanding Registrable
Securities.

<PAGE>

      d. Notify the Holders of Registrable  Securities to be sold, their Special
Counsel and any managing  underwriters as promptly as reasonably  possible (and,
in the case of (i)(A)  below,  not less than five Business Days (or, in the case
of a  supplement  or  "sticker"  required  to be filed or  attached  pursuant to
Section  3(c)(ii),  within  one  Business  Day)  prior to such  filing)  and (if
requested by any such  Person)  confirm such notice in writing no later than one
Business  Day  following  the day (i)(A)  when a  Prospectus  or any  Prospectus
supplement or  post-effective  amendment to the Registration  Statement has been
filed;  (B) when the  Commission  notifies the Company  whether  there will be a
"review" of such Registration  Statement and whenever the Commission comments in
writing on such  Registration  Statement  (the  Company  shall  provide true and
complete  copies  thereof  and  all  written  responses  thereto  to each of the
Holders);   and  (C)  with  respect  to  the   Registration   Statement  or  any
post-effective  amendment,  when  the  same has  become  effective;  (ii) of any
request by the Commission or any other Federal or state  governmental  authority
for amendments or supplements to the Registration Statement or Prospectus or for
additional  information;  (iii) of the  issuance by the  Commission  of any stop
order suspending the effectiveness of the Registration Statement covering any or
all of the Registrable  Securities or the initiation of any Proceedings for that
purpose;  (iv) if at any time any of the  representations  and warranties of the
Company  contained  in any  agreement  (including  any  underwriting  agreement)
contemplated hereby ceases to be true and correct in all material respects;  (v)
of the receipt by the Company of any notification with respect to the suspension
of the  qualification or exemption from  qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of any
Proceeding for such purpose;  and (vi) of the occurrence of any event or passage
of time  that  makes  the  financial  statements  included  in the  Registration
Statement  ineligible  for  inclusion  therein  or  any  statement  made  in the
Registration  Statement or Prospectus or any document  incorporated or deemed to
be  incorporated  therein by reference  untrue in any  material  respect or that
requires  any  revisions  to the  Registration  Statement,  Prospectus  or other
documents so that, in the case of the Registration  Statement or the Prospectus,
as the case may be, it will not contain any untrue  statement of a material fact
or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading.

      e. Use its best efforts to avoid the  issuance  of, or, if issued,  obtain
the withdrawal of (i) any order suspending the effectiveness of the Registration
Statement,  or (ii) any  suspension  of the  qualification  (or  exemption  from
qualification)   of  any  of  the   Registrable   Securities  for  sale  in  any
jurisdiction, at the earliest practicable moment.

      f. If requested by any managing  underwriter  or the Holders of a majority
in interest  of the  Registrable  Securities  to be sold in  connection  with an
Underwritten  Offering,  (i) promptly incorporate in a Prospectus  supplement or
post-effective  amendment to the Registration Statement such information as such
managing  underwriters  and such  Holders  reasonably  agree  should be included
therein,  and (ii) make all required  filings of such  Prospectus  supplement or
such  post-effective  amendment  as soon as  practicable  after the  Company has
received  notification  of the  matters to be  incorporated  in such  Prospectus
supplement or  post-effective  amendment;  provided,  however,  that the Company
shall not be required  to take any action  pursuant  to this  Section  3(f) that
would, in the opinion of counsel for the Company,  violate  applicable law or be
materially detrimental to the business prospects of the Company.

<PAGE>

      g.  Furnish  to each  Holder,  their  Special  Counsel  and  any  managing
underwriters,  without charge,  at least one conformed copy of each Registration
Statement  and  each  amendment  thereto,  including  financial  statements  and
schedules,  all documents  incorporated or deemed to be incorporated  therein by
reference,  and all exhibits to the extent  requested by such Person  (including
those  previously  furnished or  incorporated  by reference)  promptly after the
filing of such documents with the Commission.

      h.  Promptly  deliver  to each  Holder,  their  Special  Counsel,  and any
underwriters,  without charge,  as many copies of the Prospectus or Prospectuses
(including each form of prospectus) and each amendment or supplement  thereto as
such Persons may reasonably request;  and the Company hereby consents to the use
of such  Prospectus  and each  amendment  or  supplement  thereto by each of the
selling Holders and any underwriters in connection with the offering and sale of
the  Registrable  Securities  covered by such  Prospectus  and any  amendment or
supplement thereto.

      i. Prior to any public  offering of Registrable  Securities,  use its best
efforts to  register  or qualify or  cooperate  with the  selling  Holders,  any
underwriters  and their Special Counsel in connection  with the  registration or
qualification  (or exemption from such  registration or  qualification)  of such
Registrable  Securities for offer and sale under the securities or Blue Sky laws
of such  jurisdictions  within  the United  States as any Holder or  underwriter
requests  in  writing,  to keep  each such  registration  or  qualification  (or
exemption therefrom) effective during the Effectiveness Period and to do any and
all other acts or things  necessary or advisable  to enable the  disposition  in
such  jurisdictions  of the  Registrable  Securities  covered by a  Registration
Statement;  provided, however, that the Company shall not be required to qualify
generally to do business in any  jurisdiction  where it is not then so qualified
or to take any action  that would  subject  it to any  material  tax in any such
jurisdiction where it is not then so subject.

      j. Cooperate with the Holders and any managing  underwriters to facilitate
the timely  preparation  and delivery of certificates  representing  Registrable
Securities to be delivered to a transferee pursuant to a Registration Statement,
which  certificates  shall be free,  to the  extent  permitted  by the  Purchase
Agreement, of all restrictive legends, and to enable such Registrable Securities
to be in such  denominations  and  registered in such names as any such managing
underwriters or Holders may reasonably request.

      k. Upon the occurrence of any event  contemplated by Section 3(d)(vi),  as
promptly as reasonably possible, prepare a supplement or amendment,  including a
post-effective  amendment,  to the Registration Statement or a supplement to the
related  Prospectus or any document  incorporated  or deemed to be  incorporated
therein  by  reference,  and file  any  other  required  document  so  that,  as
thereafter  delivered,  neither the  Registration  Statement nor such Prospectus
will contain an untrue  statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements  therein,
in light of the circumstances under which they were made, not misleading.

<PAGE>

      l. Use its best efforts to cause all  Registrable  Securities  relating to
such Registration Statement to be listed on the American Stock Exchange ("AMEX")
or on any other stock  market or trading  facility on which the shares of Common
Stock are  traded,  listed or quoted  (each a  "Subsequent  Market") as and when
required pursuant to the Purchase Agreement.

      m. Enter into such  agreements  (including  an  underwriting  agreement in
form,  scope and substance as is customary in  Underwritten  Offerings) and take
all such other  actions in  connection  therewith  (including  those  reasonably
requested  by any  managing  underwriters  and the  Holders of a majority of the
Registrable  Securities  being  sold) in order to  expedite  or  facilitate  the
disposition of such Registrable  Securities,  and whether or not an underwriting
agreement is entered into, (i) make such  representations and warranties to such
Holders and such underwriters as are customarily made by issuers to underwriters
in  underwritten  public  offerings and confirm the same if and when  requested;
(ii) in the case of an  Underwritten  Offering obtain and deliver copies thereof
to each Holder and the managing underwriters,  if any, of opinions of counsel to
the  Company  and  updates  thereof  addressed  to each  Holder  and  each  such
underwriter,  in form, scope and substance  reasonably  satisfactory to any such
managing  underwriters  and Special Counsel to the selling Holders  covering the
matters customarily covered in opinions requested in Underwritten  Offerings and
such other  matters as may be reasonably  requested by such Special  Counsel and
underwriters;  (iii)  immediately prior to the effectiveness of the Registration
Statement, and, in the case of an Underwritten Offering, at the time of delivery
of any  Registrable  Securities sold pursuant  thereto,  use its best reasonable
efforts  to  obtain  and  deliver   copies  to  the  Holders  and  the  managing
underwriters,  if any, of "cold  comfort"  letters and updates  thereof from the
independent certified public accountants of the Company (and, if necessary,  any
other independent  certified public accountants of any subsidiary of the Company
or of any business  acquired by the Company for which  financial  statements and
financial  data  is,  or  is  required  to  be,  included  in  the  Registration
Statement),  addressed to the Company in form and  substance as are customary in
connection with  Underwritten  Offerings;  (iv) if an underwriting  agreement is
entered into, the same shall contain  indemnification  provisions and procedures
no less  favorable to the selling  Holders and the  underwriters,  if any,  than
those set forth in Section 5 (or such other provisions and procedures acceptable
to the managing  underwriters,  if any, and holders of a majority of Registrable
Securities  participating in such Underwritten  Offering);  and (v) deliver such
documents and  certificates  as may be reasonably  requested by the Holders of a
majority of the Registrable Securities being sold, their Special Counsel and any
managing  underwriters to evidence the continued validity of the representations
and warranties made pursuant to Section 3(m)(i) above and to evidence compliance
with any customary conditions  contained in the underwriting  agreement or other
agreement entered into by the Company.

      n. In case of an Underwritten  Offering,  make available for inspection by
the  selling  Holders,  any  representative  of such  Holders,  any  underwriter
participating in any disposition of Registrable Securities,  and any attorney or
accountant  retained by such  selling  Holders or  underwriters,  at the offices
where normally kept, during  reasonable  business hours, all financial and other
records,  pertinent  corporate  documents and  properties of the Company and its
subsidiaries  other than confidential  technological  information of the Company
and its subsidiaries, and cause the officers, directors, agents and employees of
the  Company  and its  subsidiaries  to  supply  all  information  in each  case
reasonably requested by any such Holder, representative,  underwriter,  attorney
or accountant in connection with the Registration Statement;  provided, however,
that any information  that is determined in good faith by the Company in writing

<PAGE>

to be of a confidential nature at the time of delivery of such information shall
be kept confidential by such Persons,  unless (i) disclosure of such information
is  required  by court or  administrative  order or is  necessary  to respond to
inquiries of regulatory authorities; (ii) disclosure of such information, in the
opinion of counsel to such Person,  is required by law;  (iii) such  information
becomes generally available to the public other than as a result of a disclosure
or  failure  to  safeguard  by such  Person;  or (iv) such  information  becomes
available to such Person from a source other than the Company and such source is
not known by such  Person to be bound by a  confidentiality  agreement  with the
Company.

      o. Comply with all applicable rules and regulations of the Commission.

      p. The Company may require each  selling  Holder to furnish to the Company
such information  regarding the distribution of such Registrable  Securities and
the  beneficial  ownership of Common Stock held by such Holder as is required by
law to be disclosed in the Registration  Statement,  and the Company may exclude
from  such  registration  the  Registrable  Securities  of any such  Holder  who
unreasonably  fails to furnish such  information  within a reasonable time after
receiving such request.  If the  Registration  Statement refers to any Holder by
name or otherwise  as the holder of any  securities  of the  Company,  then such
Holder shall have the right to require (if such reference to such Holder by name
or  otherwise  is not  required by the  Securities  Act or any  similar  Federal
statute  then in force) the  deletion  of the  reference  to such  Holder in any
amendment  or  supplement  to  the  Registration  Statement  filed  or  prepared
subsequent to the time that such reference ceases to be required.

4.    Registration Expenses

      a. All fees and expenses incident to the performance of or compliance with
this Agreement by the Company,  except as and to the extent specified in Section
4(b),  shall be borne by the Company  whether or not pursuant to an Underwritten
Offering  and  whether  or not the  Registration  Statement  is filed or becomes
effective and whether or not any Registrable Securities are sold pursuant to the
Registration  Statement.  The fees and  expenses  referred  to in the  foregoing
sentence shall include, without limitation, (i) all registration and filing fees
(including,  without  limitation,  fees and expenses (A) with respect to filings
required to be made with the AMEX and any Subsequent  Market on which the Common
Stock is then  listed  for  trading,  and (B) in  addition  to the  terms of the
Purchase  Agreement,  in  compliance  with  state  securities  or Blue  Sky laws
(including,  without  limitation,  fees and  disbursements  of  counsel  for the
Holders  in  connection  with  Blue  Sky  qualifications  or  exemptions  of the
Registrable  Securities  under the laws of such  jurisdictions  as the  managing
underwriters, if any, or the Holders of a majority of Registrable Securities may
designate)),  (ii) other than in the case of an Underwritten Offering,  printing
expenses (including,  without limitation,  expenses of printing certificates for
Registrable   Securities  and  of  printing  prospectuses  if  the  printing  of
prospectuses  is  requested  by the  holders  of a majority  of the  Registrable
Securities included in the Registration Statement),  (iii) messenger,  telephone
and delivery expenses of the Company, (iv) fees and disbursements of counsel for
the Company and Special  Counsel for the Holders (in the case of Special Counsel
for the  Holders,  up to a maximum of  $5,000),  (v)  Securities  Act  liability
insurance, if the Company so desires such insurance,  and (vi) fees and expenses

<PAGE>

of all other Persons retained by the Company in connection with the consummation
of the  transactions  contemplated by this Agreement.  In addition,  the Company
shall be  responsible  for all of its internal  expenses  incurred in connection
with  the  consummation  of the  transactions  contemplated  by  this  Agreement
(including,  without  limitation,  all salaries and expenses of its officers and
employees  performing  legal or  accounting  duties),  the expense of any annual
audit and the fees and expenses  incurred in connection  with the listing of the
Registrable Securities on any securities exchange as required hereunder.

      b. If the Holders require an Underwritten  Offering  pursuant to the terms
hereof,  the Company shall be  responsible  for all costs,  fees and expenses in
connection therewith,  except for the fees and disbursements of the Underwriters
(including any  underwriting  commissions and discounts) and their legal counsel
and accountants.  By way of illustration  which is not intended to diminish from
the provisions of Section 4(a),  the Holders shall not be  responsible  for, and
the Company shall be required to pay the fees or  disbursements  incurred by the
Company (including by its legal counsel and accountants) in connection with, the
preparation  and filing of a Registration  Statement and related  Prospectus for
such offering, the maintenance of such Registration Statement in accordance with
the terms hereof and the listing of the  Registrable  Securities  in  accordance
with the requirements hereof.

5.    Indemnification

      a. Indemnification by the Company. The Company shall,  notwithstanding any
termination  of this  Agreement,  indemnify and hold  harmless each Holder,  the
officers,  directors, agents (including any underwriters retained by such Holder
in  connection  with the  offer  and sale of  Registrable  Securities),  brokers
(including  brokers who offer and sell Registrable  Securities as principal as a
result of a pledge  or any  failure  to  perform  under a margin  call of Common
Stock),  investment  advisors  and  employees  of each of them,  each Person who
controls any such Holder (within the meaning of Section 15 of the Securities Act
or Section  20 of the  Exchange  Act) and the  officers,  directors,  agents and
employees of each such  controlling  Person,  to the fullest extent permitted by
applicable  law,  from  and  against  any  and  all  losses,  claims,   damages,
liabilities,  costs  (including,  without  limitation,  costs of preparation and
attorneys' fees) and expenses (collectively, "Losses"), as incurred, arising out
of or  relating to any untrue or alleged  untrue  statement  of a material  fact
contained  in  the  Registration  Statement,  any  Prospectus  or  any  form  of
prospectus  or in any  amendment  or  supplement  thereto or in any  preliminary
prospectus, or arising out of or relating to any omission or alleged omission of
a  material  fact  required  to be  stated  therein  or  necessary  to make  the
statements  therein  (in the case of any  Prospectus  or form of  prospectus  or
supplement  thereto,  in light of the circumstances  under which they were made)
not  misleading,  except to the extent,  but only to the  extent,  that (1) such
untrue statements or omissions are based solely upon information  regarding such
Holder  furnished  in writing to the  Company by such Holder  expressly  for use
therein,  or to the extent that such information  relates to such Holder or such
Holder's  proposed  method of  distribution  of  Registrable  Securities and was
reviewed and expressly  approved in writing by such Holder  expressly for use in
the Registration Statement, such Prospectus or such form of Prospectus or in any
amendment or supplement  thereto or (2) in the case of an occurrence of an event
of the type  specified  in Section  3(d)(ii)-(vi),  the use by such Holder of an
outdated or defective  Prospectus  after the Company has notified such Holder in
writing that the Prospectus is outdated or defective and prior to the receipt by
such Holder of the Advice contemplated in Section 6(e). The Company shall notify
the Holders promptly of the  institution,  threat or assertion of any Proceeding
of which the Company is aware in connection with the  transactions  contemplated
by this Agreement.

<PAGE>

      b.  Indemnification  by Holders.  Each  Holder  shall,  severally  and not
jointly,  indemnify  and hold  harmless the Company,  its  directors,  officers,
agents and employees,  each Person who controls the Company  (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the
directors,  officers,  agents or employees of such controlling  Persons,  to the
fullest  extent  permitted by applicable  law,  from and against all Losses,  as
incurred,  arising solely out of or based solely upon any untrue  statement of a
material fact contained in the Registration  Statement,  any Prospectus,  or any
form of prospectus, or in any amendment or supplement thereto, or arising solely
out of or based  solely  upon any  omission  of a material  fact  required to be
stated therein or necessary to make the statements therein not misleading to the
extent,  but only to the  extent,  that such  untrue  statement  or  omission is
contained  in any  information  so  furnished  in writing by such  Holder to the
Company  specifically  for  inclusion  in the  Registration  Statement  or  such
Prospectus or to the extent that such information relates to such Holder or such
Holder's  proposed  method of  distribution  of  Registrable  Securities and was
reviewed and expressly  approved in writing by such Holder  expressly for use in
the Registration  Statement,  such Prospectus or such form of Prospectus,  or in
any  amendment or  supplement  thereto.  In no event shall the  liability of any
selling Holder  hereunder be greater in amount than the dollar amount of the net
proceeds  received by such Holder  upon the sale of the  Registrable  Securities
giving rise to such indemnification obligation.

      c. Conduct of  Indemnification  Proceedings.  If any  Proceeding  shall be
brought or asserted  against  any Person  entitled to  indemnity  hereunder  (an
"Indemnified  Party"),  such Indemnified  Party shall promptly notify the Person
from whom  indemnity is sought (the  "Indemnifying  Party") in writing,  and the
Indemnifying Party shall assume the defense thereof, including the employment of
counsel reasonably  satisfactory to the Indemnified Party and the payment of all
fees and expenses  incurred in connection with defense thereof;  provided,  that
the failure of any  Indemnified  Party to give such notice shall not relieve the
Indemnifying Party of its obligations or liabilities pursuant to this Agreement,
except (and only) to the extent that it shall be finally  determined  by a court
of  competent  jurisdiction  (which  determination  is not  subject to appeal or
further  review)  that  such  failure  shall  have  proximately  and  materially
adversely prejudiced the Indemnifying Party.

      An Indemnified  Party shall have the right to employ  separate  counsel in
any such Proceeding and to participate in the defense thereof,  but the fees and
expenses of such counsel  shall be at the expense of such  Indemnified  Party or
Parties  unless:  (1) the  Indemnifying  Party has agreed in writing to pay such
fees and expenses;  or (2) the Indemnifying  Party shall have failed promptly to
assume  the  defense  of  such  Proceeding  and  to  employ  counsel  reasonably
satisfactory to such Indemnified Party in any such Proceeding;  or (3) the named
parties to any such Proceeding  (including any impleaded  parties)  include both
such Indemnified  Party and the Indemnifying  Party, and such Indemnified  Party
shall have been  advised by counsel  that a conflict  of  interest  is likely to
exist if the same  counsel  were to  represent  such  Indemnified  Party and the
Indemnifying  Party (in which  case,  if such  Indemnified  Party  notifies  the
Indemnifying  Party in writing that it elects to employ separate  counsel at the
expense of the Indemnifying  Party,  the  Indemnifying  Party shall not have the
right to assume the defense  thereof and such counsel shall be at the expense of
the Indemnifying  Party).  In the case of an event pursuant to clause (1) or (2)
of the immediately  preceding  sentence,  the  Indemnifying  Party shall only be

<PAGE>

responsible  for  the  fees  and  expenses  of one  additional  counsel  for all
Indemnified  Parties.  The  Indemnifying  Party  shall  not be  liable  for  any
settlement of any such Proceeding  effected without its written  consent,  which
consent shall not be unreasonably withheld. No Indemnifying Party shall, without
the prior written consent of the Indemnified Party, effect any settlement of any
pending Proceeding in respect of which any Indemnified Party is a party,  unless
such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such Proceeding.

      All fees and expenses of the Indemnified Party (including  reasonable fees
and  expenses  to the  extent  incurred  in  connection  with  investigating  or
preparing  to defend  such  Proceeding  in a manner not  inconsistent  with this
Section) shall be paid to the Indemnified  Party,  as incurred,  within ten (10)
Business Days of written notice thereof to the Indemnifying Party (regardless of
whether it is ultimately determined that an Indemnified Party is not entitled to
indemnification  hereunder;  provided,  that the Indemnifying  Party may require
such  Indemnified  Party to undertake to reimburse all such fees and expenses to
the extent it is finally  judicially  determined that such Indemnified  Party is
not entitled to indemnification hereunder).

      d. Contribution. If a claim for indemnification under Section 5(a) or 5(b)
is  unavailable  to  an  Indemnified  Party  (by  reason  of  public  policy  or
otherwise),   then  each  Indemnifying  Party,  in  lieu  of  indemnifying  such
Indemnified  Party,  shall  contribute  to the  amount  paid or  payable by such
Indemnified  Party  as a  result  of  such  Losses,  in  such  proportion  as is
appropriate  to  reflect  the  relative  fault  of the  Indemnifying  Party  and
Indemnified  Party in connection with the actions,  statements or omissions that
resulted in such Losses as well as any other relevant equitable  considerations.
The relative fault of such  Indemnifying  Party and  Indemnified  Party shall be
determined by reference to, among other things,  whether any action in question,
including any untrue or alleged untrue  statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to
information  supplied by, such Indemnifying  Party or Indemnified Party, and the
parties'  relative intent,  knowledge,  access to information and opportunity to
correct or prevent  such  action,  statement  or  omission.  The amount  paid or
payable by a party as a result of any Losses shall be deemed to include, subject
to the limitations set forth in Section 5(c), any reasonable attorneys' or other
reasonable  fees or  expenses  incurred  by such  party in  connection  with any
Proceeding to the extent such party would have been indemnified for such fees or
expenses if the  indemnification  provided for in this Section was  available to
such party in accordance with its terms.

      The  parties  hereto  agree  that it would  not be just and  equitable  if
contribution  pursuant  to  this  Section  5(d)  were  determined  by  pro  rata
allocation or by any other method of allocation  that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 5(d), no Holder shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the
proceeds  actually  received  by such  Holder  from the sale of the  Registrable
Securities subject to the Proceeding exceeds the amount of any damages that such
Holder has  otherwise  been  required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission. No Person guilty of fraudulent
misrepresentation  (within the meaning of Section 11(f) of the  Securities  Act)
shall be  entitled  to  contribution  from any Person who was not guilty of such
fraudulent misrepresentation.

<PAGE>

      The indemnity and contribution agreements contained in this Section are in
addition  to any  liability  that  the  Indemnifying  Parties  may  have  to the
Indemnified Parties.

6.    Miscellaneous

      a.  Remedies.  In the event of a breach by the Company or by a Holder,  of
any of their  obligations under this Agreement,  each Holder or the Company,  as
the case may be, in addition to being entitled to exercise all rights granted by
law and under this Agreement, including recovery of damages, will be entitled to
specific  performance of its rights under this  Agreement.  The Company and each
Holder agree that monetary damages would not provide  adequate  compensation for
any losses incurred by reason of a breach by it of any of the provisions of this
Agreement  and  hereby  further  agrees  that,  in the event of any  action  for
specific  performance in respect of such breach, it shall waive the defense that
a remedy at law would be adequate.

      b.  No  Inconsistent  Agreements.  Neither  the  Company  nor  any  of its
subsidiaries has entered, as of the date hereof, nor shall the Company or any of
its  subsidiaries,  on or  after  the  date of this  Agreement,  enter  into any
agreement with respect to its securities  that is  inconsistent  with the rights
granted  to the  Holders  in this  Agreement  or  otherwise  conflicts  with the
provisions  hereof.  Except as and to the  extent  specified  in  Schedule  6(b)
hereto,  neither the Company nor any of its subsidiaries has previously  entered
into any agreement  granting any registration  rights with respect to any of its
securities to any Person.  Without  limiting the  generality  of the  foregoing,
without the written consent of the Holders of a majority of the then outstanding
Registrable  Securities,  the Company shall not grant to any Person the right to
request  the  Company  to  register  any  securities  of the  Company  under the
Securities Act unless the rights so granted will not conflict with the rights of
the Holders set forth herein and are not  otherwise in conflict or  inconsistent
with the provisions of this Agreement.

      c. No Piggyback on Registrations. Except as and to the extent specified in
Schedule 6(b) hereto, neither the Company nor any of its security holders (other
than the Holders in such capacity pursuant hereto) may include securities of the
Company in the Registration Statement other than the Registrable Securities, and
the Company shall not after the date hereof enter into any  agreement  providing
any such right to any of its security holders.

      d.  Compliance.  Each Holder covenants and agrees that it will comply with
the prospectus  delivery  requirements of the Securities Act as applicable to it
in connection with sales of Registrable  Securities pursuant to the Registration
Statement.

      e. Discontinued Disposition. Each Holder agrees by its acquisition of such
Registrable  Securities  that,  upon receipt of a notice from the Company of the
occurrence of any event of the kind described in Sections  3(d)(ii),  3(d)(iii),
3(d)(iv),   3(d)(v)  or  3(d)(vi),   such  Holder  will  forthwith   discontinue
disposition of such  Registrable  Securities  under the  Registration  Statement
until such Holder's receipt of the copies of the supplemented  Prospectus and/or
amended  Registration  Statement  contemplated  by Section  3(k), or until it is
advised in writing (the  "Advice") by the Company that the use of the applicable
Prospectus  may be resumed,  and, in either  case,  has  received  copies of any
additional  or  supplemental  filings  that are  incorporated  or  deemed  to be
incorporated  by reference in such  Prospectus or  Registration  Statement.  The
Company may provide  appropriate  stop orders to enforce the  provisions of this
paragraph.

<PAGE>

      f. Piggy-Back Registrations. If at any time when there is not an effective
Registration  Statement  covering  all of the  Registrable  Securities  and  the
Company shall  determine to prepare and file with the  Commission a registration
statement  relating to an offering  for its own account or the account of others
under the Securities Act of any of its equity securities, other than on Form S-4
or Form  S-8  (each as  promulgated  under  the  Securities  Act) or their  then
equivalents relating to equity securities to be issued solely in connection with
any  acquisition  of any entity or  business  or equity  securities  issuable in
connection with stock option or other employee  benefit plans,  then the Company
shall send to each Holder  written notice of such  determination  and, if within
fifteen (15) days after receipt of such notice, any such Holder shall so request
in writing, the Company shall include in such registration  statement all or any
part of such Registrable Securities such holder requests to be registered.

      g. Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended,  modified or supplemented,  and
waivers or consents to departures  from the provisions  hereof may not be given,
unless the same shall be in writing and signed by the Company and the Holders of
at  least   two-thirds   of  the  then   outstanding   Registrable   Securities.
Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof  with  respect  to a matter  that  relates  exclusively  to the rights of
Holders  and that does not  directly  or  indirectly  affect the rights of other
Holders  may be  given by  Holders  of at least a  majority  of the  Registrable
Securities to which such waiver or consent relates; provided,  however, that the
provisions of this sentence may not be amended, modified, or supplemented except
in accordance with the provisions of the immediately preceding sentence.

      h.  Notices.  Any and all notices or other  communications  or  deliveries
required or permitted to be provided  hereunder shall be in writing and shall be
deemed given and effective on the earliest of (i) the date of  transmission,  if
such  notice or  communication  is  delivered  via  facsimile  at the  facsimile
telephone  number  specified in this Section  prior to 5:00 p.m.  (New York City
time) on a Business Day,  (ii) the Business Day after the date of  transmission,
if such notice or  communication  is delivered  via  facsimile at the  facsimile
telephone number  specified in the Purchase  Agreement later than 5:00 p.m. (New
York City time) on any date and earlier than 11:59 p.m.  (New York City time) on
such date,  (iii) the Business  Day  following  the date of mailing,  if sent by
nationally  recognized overnight courier service, or (iv) upon actual receipt by
the party to whom such  notice is  required  to be given.  The  address for such
notices and communications shall be as follows:

      If to the Company:      Cel Sci Corporation
                              8229 Boone Boulevard, Suite 802
                              Vienna, Virginia 22182
                              Facsimile No.: (703) 506-9471
                              Attn:  Chief Financial Officer

      With copies to:         Hart & Trinen
                              1624 Washington Street
                              Denver, Colorado
                              Facsimile No.: (303) 839-5414
                              Attn: Bill Hart, Esq.

<PAGE>

      If to any other Person who is then the registered Holder:

            To          the address of such Holder as it appears in the Purchase
                        Agreement or the stock  transfer books of the Company or
                        such  other  address  as may be  designated  in  writing
                        hereafter, in the same manner, by such Person.

      i.  Successors and Assigns.  This Agreement  shall inure to the benefit of
and be binding upon the successors and permitted  assigns of each of the parties
and shall  inure to the benefit of each  Holder.  The Company may not assign its
rights or  obligations  hereunder  without  the prior  written  consent  of each
Holder.  Each Holder may assign their respective  rights hereunder in the manner
and to the Persons as permitted under this Agreement and the Purchase Agreement.

      j.  Counterparts.  This  Agreement  may  be  executed  in  any  number  of
counterparts,  each of which when so executed  shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement. In
the event that any  signature  is  delivered  by  facsimile  transmission,  such
signature shall create a valid binding  obligation of the party executing (or on
whose behalf such signature is executed) the same with the same force and effect
as if such facsimile signature were the original thereof.

      k. Governing  Law. This  Agreement  shall be governed by and construed and
enforced in  accordance  with the internal laws of the State of New York without
regard to the principles of conflicts of law thereof.

      l. Cumulative  Remedies. The remedies provided herein are cumulative  and
not exclusive of any remedies provided by law.

      m. Severability.  If any term, provision,  covenant or restriction of this
Agreement is held by a court of competent  jurisdiction to be invalid,  illegal,
void or  unenforceable,  the remainder of the terms,  provisions,  covenants and
restrictions set forth herein shall remain in full force and effect and shall in
no way be affected,  impaired or  invalidated,  and the parties hereto shall use
their reasonable  efforts to find and employ an alternative means to achieve the
same or  substantially  the  same  result  as that  contemplated  by such  term,
provision,  covenant or restriction.  It is hereby stipulated and declared to be
the intention of the parties that they would have executed the remaining  terms,
provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

      n.    Headings.  The headings in this Agreement are for  convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

      o. Shares Held by the Company and its Affiliates.  Whenever the consent or
approval of Holders of a  specified  percentage  of  Registrable  Securities  is
required hereunder, Registrable Securities held by the Company or its Affiliates

<PAGE>

(other than any Holder or transferees  or successors or assigns  thereof if such
Holder is deemed to be an  Affiliate  solely by reason of its  holdings  of such
Registrable Securities) shall not be counted in determining whether such consent
or approval was given by the Holders of such required percentage.

      p. Independent Nature of Holders'  Obligations and Rights. The obligations
of each Holder  hereunder is several and not joint with the  obligations  of any
other Holder  hereunder,  and neither Holder shall be responsible in any way for
the  performance  of the  obligations  of any other  Holder  hereunder.  Nothing
contained herein or in any other agreement or document delivered at any closing,
and no action taken by any Holder pursuant hereto or thereto, shall be deemed to
constitute the Holders as a partnership,  an association, a joint venture or any
other kind of entity,  or create a  presumption  that the Holders are in any way
acting  in  concert  with  respect  to  such  obligations  or  the  transactions
contemplated  by this  Agreement.  Each Holder  shall be entitled to protect and
enforce its rights,  including without limitation the rights arising out of this
Agreement, and it shall not be necessary for any other Holder to be joined as an
additional party in any proceeding for such purpose.

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                            SIGNATURE PAGES FOLLOW]

<PAGE>

      IN WITNESS  WHEREOF,  the parties have executed this  Registration  Rights
Agreement as of the date first written above.

                                    CEL SCI CORPORATION

                                    By:___________________________
                                        Name:
                                        Title:

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                    SIGNATURE PAGES FOR PURCHASERS FOLLOW]

<PAGE>

                                    ADVANTAGE FUND II LTD.

                                    By:__________________________________
                                       Name:
                                       Title:

                                    Address for Notice:

                                    c/o CITCO
                                    Kaya Flamboyan 9
                                    Curacao, Netherlands Antilles
                                    Facsimile: 011-599-9732-2008
                                    Attention: W.R. Weber

            With copies to:

                                    Genesee International Inc.
                                    10500 NE 8th Street
                                    Suite 1920
                                    Bellevue, WA 98004
                                    Facsimile: (425) 462-4645
                                    Attention: Christopher Purrier

                               Robinson Silverman Pearce Aronsohn & Berman LLP
                               1290 Avenue of the Americas
                               New York, NY 10104
                               Facsimile No.:  (212) 541-4630 and (212) 541-1432
                               Attn: Eric L. Cohen, Esq.

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                     SIGNATURE PAGE FOR PURCHASER FOLLOWS]

<PAGE>

                           KOCH INVESTMENT GROUP LTD.

                           By:_____________________________________
                               Name:
                               Title:

                               Address for Notice:

                               4111 East 37th Street North
                               Wichita, Kansas 67270
                               Facsimile: (316) 828-7947
                               Attention: Josh Taylor

<PAGE>

                                                                       Annex A
                              Plan of Distribution

      The  Selling  Stockholders  and  any  of  their  pledgees,  assignees  and
successors-in-interest  may, from time to time,  sell any or all of their shares
of Common Stock on any stock exchange,  market or trading  facility on which the
shares  are traded or in private  transactions.  These  sales may be at fixed or
negotiated  prices.  The  Selling  Stockholders  may  use any one or more of the
following methods when selling shares:

o    ordinary brokerage transactions and transactions in which the broker-dealer
     solicits purchasers;

o    block trades in which the broker-dealer  will attempt to sell the shares as
     agent but may  position  and resell a portion of the block as  principal to
     facilitate the transaction;

o    purchases by a broker-dealer  as principal and resale by the  broker-dealer
     for its account;

o    an exchange  distribution  in accordance  with the rules of the  applicable
     exchange;

o    privately negotiated transactions;

o    short sales;

o    broker-dealers may agree with the Selling  Stockholders to sell a specified
     number of such shares at a stipulated price per share;

o    a combination of any such methods of sale; and

o    any other method permitted pursuant to applicable law.

      The Selling  Stockholders  may also sell  shares  under Rule 144 under the
Securities Act, if available, rather than under this prospectus.

      The Selling  Stockholders  may also engage in short sales against the box,
puts  and  calls  and  other  transactions  in  securities  of  the  Company  or
derivatives  of Company  securities and may sell or deliver shares in connection
with these  trades.  The Selling  Stockholders  may pledge their shares to their
brokers  under  the  margin  provisions  of  customer  agreements.  If a Selling
Stockholder  defaults on a margin loan, the broker may, from time to time, offer
and sell the pledged shares.

      Broker-dealers  engaged by the Selling  Stockholders may arrange for other
brokers-dealers to participate in sales.  Broker-dealers may receive commissions
or discounts from the Selling  Stockholders  (or, if any  broker-dealer  acts as

<PAGE>

agent  for the  purchaser  of  shares,  from the  purchaser)  in  amounts  to be
negotiated.  The  Selling  Stockholders  do not  expect  these  commissions  and
discounts to exceed what is customary in the types of transactions involved.

      The  Selling  Stockholders  and any  broker-dealers  or  agents  that  are
involved  in selling  the shares may be deemed to be  "underwriters"  within the
meaning of the Securities Act in connection with such sales. In such event,  any
commissions  received  by such  broker-dealers  or agents  and any profit on the
resale  of the  shares  purchased  by  them  may be  deemed  to be  underwriting
commissions or discounts under the Securities Act.

      The  Company is  required  to pay all fees and  expenses  incident  to the
registration of the shares,  including fees and  disbursements of counsel to the
Selling   Stockholders.   The  Company  has  agreed  to  indemnify  the  Selling
Stockholders against certain losses, claims, damages and liabilities,  including
liabilities under the Securities Act.

<PAGE>

                               CEL-SCI CORPORATION
                                 SCHEDULE 6 (b)
                               REGISTRATION RIGHTS

                                                          Shares Subject to
      Name of Person or Group                            Registration Rights

Former holders of Series D Preferred Stock.
Shares issuable upon exercise of warrants.                     1,100,000

Shoreline Pacific (Sales Agent for Series D
Preferred Stock). Shares issuable upon exercise of warrants       50,000

Reedland Capital Partners.  Shares issuable upon
exercise of warrants.                                             25,000

Financial and Investor Relations Consultants                     305,000

Shares issuable upon exercise of warrants issued in
connection with exchange offer                                   116,405

Shares issuable upon exercise of callable warrants held by
Advantage Fund II, Ltd. and Koch Investment Group, Ltd.          402,007

Advantage Fund II, Ltd. and Koch Investment Group, Ltd. -
shares issuable upon exercise of Adjustable Warrants                 (1)

Former underwriter.  Shares issuable upon exercise of warrants.   10,000

Holders of options granted pursuant to Company's stock
option plans  (registered by means of registration
statements on Form S-8)                                        3,153,448

(1)  Number of shares  issuable upon exercise of Adjustable  Warrants  cannot be
     determined at this time.

Only the shares  issuable  upon the  exercise of the  warrants  held by Reedland
Capital  Partners  will  be  included  in  the  underlying  shares  registration
statement.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}]]