Document:

Exhibit 4.2  

	No. W	 	VOID AFTER [                        ], 2011
	

 	
 	

WARRANTS

WARRANT CERTIFICATE TO

PURCHASE ONE SHARE OF COMMON STOCK 

LIGHTSPACE CORPORATION 

                                    CUSIP   
     

THIS
CERTIFIES THAT, FOR VALUE RECEIVED 

or
registered assigns (the "Registered Holder") is the owner of the number of Warrants (the "Warrants") specified above. Each Warrant initially entitles the Registered Holder to purchase, subject to
the terms and conditions set forth in this Certificate and the Warrant Agreement (as hereinafter defined), one fully paid and nonassessable share of Common Stock, $.00001 par value, of Lightspace
Corporation, a Delaware corporation (the "Company"), at any time between [                        ], 2006 (the "Initial Warrant
Exercise Date"), and the Expiration Date (as hereinafter
defined) upon the presentation and surrender of this Warrant Certificate with the Subscription Form on the reverse hereof duly executed, at the corporate office of Continental Stock Transfer &
Trust Company, 17 Battery Place, New York New York 10004, as Warrant Agent, or its successor (the "Warrant Agent"), accompanied by payment of [$1.00 in the case of $1.00 Unit Warrants,
$1.25 in the case of the $1.25 Unit Warrants, $1.63 in the case of the $1.63 Unit Warrants, $0.80 in the case of the $0.80 Exchange Warrants, $1.00 in the case of the $1.00 Exchange Warrants, $3.00 in
the case of the $3.00 Exchange Warrants and $7.50 in the case of the $7.50 Exchange Warrants] subject to adjustment (the "Purchase Price"), in lawful money of the United States of America
in cash or by certified or bank check made payable to the Company. 

        This
Warrant Certificate and each Warrant represented hereby are issued pursuant to and are subject in all respects to the terms and conditions set forth in the Warrant Agreement (the
"Warrant Agreement"), dated [                        ], 2006, by and between the Company and the Warrant Agent. 

        In
the event of certain contingencies provided for in the Warrant Agreement, the Purchase Price and the number of shares of Common Stock subject to purchase upon the exercise of each
Warrant represented hereby are subject to modification or adjustment. 

        Each
Warrant represented hereby is exercisable at the option of the Registered Holder, but no fractional interests will be issued. In the case of the exercise of less than all of the
Warrants represented hereby, the Company shall cancel this Warrant Certificate upon the surrender hereof and shall execute and deliver a new Warrant Certificate or Warrant Certificates of like tenor,
which the Warrant Agent shall countersign, for the balance of such Warrants. 

        The
term "Expiration Date" shall mean 5:00 p.m. (New York time) on [                        ], 2011. If such date shall in the
State of New York be a holiday or a
day on which the banks are authorized to close, then the Expiration Date shall mean 5:00 p.m. (New York time) the next following day which in the State of New York is not a holiday or a day on
which banks are authorized to close. 

        The
Company shall not be obligated to deliver any securities pursuant to the exercise of this Warrant unless a registration statement under the Securities Act of 1933, as amended (the
"Act), with respect to such securities is effective or an exemption thereunder is available. The Company has covenanted and agreed that it will file a registration statement under the Federal
securities laws, use its best efforts to cause the same to become effective, use its best efforts to keep such registration statement current, if required under the Act, while any of the Warrants are
outstanding, and deliver a 

 

prospectus
which complies with Section 10(a)(3) of the Act to the Registered Holder exercising this Warrant. This Warrant shall not be exercisable by a Registered Holder in any state where such
exercise would be unlawful. 

        This
Warrant Certificate is exchangeable, upon the surrender hereof by the Registered Holder at the corporate office of the Warrant Agent, for a new Warrant Certificate or Warrant
Certificates of like tenor representing an equal aggregate number of Warrants, each of such new Warrant Certificates to represent such number of Warrants as shall be designated by such Registered
Holder at the time of such surrender. Upon due presentment and payment of any tax or other charge imposed in connection therewith or incident thereto, for registration of transfer of this Warrant
Certificate at such office, a new Warrant Certificate or Warrant Certificates representing an equal aggregate number of Warrants will be issued to the transferee in exchange therefor, subject to the
limitations provided in the Warrant Agreement. 

        Prior
to the exercise of any Warrant represented hereby, the Registered Holder shall not be entitled to any rights of a stockholder of the Company, including, without limitation, the
right to vote or to receive dividends or other distributions, and shall not be entitled to receive any notice of any proceedings of the Company, except as provided in the Warrant Agreement. 

        Prior
to due presentment for registration of transfer hereof, the Company and the Warrant Agent may deem and treat the Registered Holder as the absolute owner hereof and of each Warrant
represented hereby (notwithstanding any notations of ownership or writing hereon made by anyone other than a duly authorized officer of the Company or the Warrant Agent) for all purposes and shall not
be affected by any notice to the contrary, except as provided in the Warrant Agreement. 

        This
Warrant Certificate shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to conflicts of laws. 

        This
Warrant Certificate is not valid unless countersigned by the Warrant Agent. 

        IN
WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly executed, manually or in facsimile by two of its officers "hereunto duly authorized and a facsimile of its
corporate seal to be imprinted hereon. 

2

 

Dated:
[                        ] 

	[SEAL]	 	LIGHTSPACE CORPORATION
	

 	

 	
 	

By:	

 
	 	 	 	 	
 A. Kennedy Lang, President
	

 	

 	
 	

By:	

 
	 	 	 	 	
 [                        ], Secretary
	

COUNTERSIGNED:	
 	

 	

 
	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY as Warrant Agent	
 	

 	

 
	

By:	

 	
 	

 	

 
	 	
 Authorized Officer	 	 	 

3

 
SUBSCRIPTION FORM  

To
Be Executed by the Registered Holder

in Order to Exercise Warrants 

        The
undersigned Registered Holder hereby irrevocably elects to exercise Warrants represented by this Warrant Certificate, and to purchase the securities issuable upon the exercise of
such Warrants, and requests that certificates for such securities shall be issued in name of 

PLEASE INSERT SOCIAL SECURITY

OR OTHER IDENTIFYING NUMBER  

(please print or type name and address) 

and
be delivered to 

(please print or type name and address) 

and
if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in the name of, and
delivered to, the Registered Holder at the address stated below. 

4

 
ASSIGNMENT  

To
Be Executed by the Registered Holder

in Order to Assign Warrants 

FOR
VALUE RECEIVED,                        , hereby sells, assigns and transfers unto 

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER  

(please print or type name and address) 

                        of
the Warrants represented by this Warrant Certificate, and hereby irrevocably constitutes and appoints            Attorney to transfer this Warrant Certificate of the Company,
with full power of substitution in the premises. 

	

 	
 	

 	
 	

 	
 	

 
	Dated:	 	 	 	X	 	 
	 	 	
	 	 	 	

	 	 	 	 	 	 	 
	 	 	 	 	

THE SIGNATURE TO THE ASSIGNMENT OR THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME AS WR1TTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER AND MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION WITH MEMBERSHIP IN AN APPROVED SIGNATURE MEDALLION PROGRAM PURSUANT TO SEC RULE
17Ad-15.

5Exhibit 4.3  

SENIOR SECURED NOTE  

	$[                        ]	 	New York, New York

[Date]

        FOR
VALUE RECEIVED, the undersigned, a Delaware corporation having an address at 125 CambridgePark Drive, 4th Floor, Cambridge, MA 02140, hereby promises to pay to the order of
[Noteholder], or assigns ("Lender"), at its offices located at [Address] or at such other place as the Lender may from time to time designate to the
undersigned in writing, on April 14, 2006, or such earlier date as required hereunder, the sum of [Amount] at a rate per annum equal to eight percent (8%). In no event,
however, shall interest hereunder be in excess of the maximum interest rate permitted by law. 

        The
obligations of the undersigned are secured in accordance with the terms of a Security Agreement (as amended, restated, modified and supplemented from time to time, the "Security
Agreement") between the undersigned and Lender, dated September 6, 2005, by the pledge of certain Collateral, as defined in such Security Agreement. This Note is one of the Senior Secured Notes
issued in connection with a financing of the undersigned aggregating $[                        ]. 

        A.    Prepayment; Conversion:    

        1.     This
Note may be prepaid without premium or penalty, in whole or in part. 

        2.     In
the event the undersigned completes an equity financing with gross proceeds in excess of $2,000,000 on or before April 14, 2006, this Note, including without
limitation all accrued interest and other obligations under this Note, shall automatically be surrendered in payment for a subscription for securities sold in such financing and in exchange for such
securities as if purchased for cash in the amount of all such obligations. 

        B.    Default; Remedy.    If any one or more of the following events of default (each, an "Event of Default") shall
occur, that is to say: 

        1.     default
shall be made in the payment of any principal or interest of this Note when the same shall become due and payable, whether at maturity, by acceleration, by notice
of intention to prepay or otherwise; 

        2.     any
obligation of the undersigned other than its obligations to Lender hereunder becomes or is declared to be due and payable and shall not have been paid within thirty
(30) days, except for delays in payment of the Company's accounts payable as listed in Schedule 1 attached hereto; 

        3.     the
undersigned shall become unable to pay its debts as they mature, seek to auction all or a substantial portion of its assets, make a general assignment for the benefit
of creditors, commence or cause to be commenced a meeting of his creditors or take advantage of any of the insolvency laws, or a case is commenced or a petition in bankruptcy or for an arrangement or
reorganization under the Federal Bankruptcy Code (i) is filed against the undersigned, or (ii) is filed by the undersigned, or a custodian or receiver (or other court designee performing
the functions of a receiver) is appointed for or takes possession of the undersigned's assets or affairs, or an order for relief in a case commenced under the Federal Bankruptcy Code is entered; 

        4.     any
judgment or judgments against the undersigned or its property for any amount remains unpaid, undischarged, unsatisfied, unbonded or undismissed for a period of ten
(10) days, or a levy, sequestration or attachment against the undersigned or his property for any amount remains unpaid, undischarged, unstayed, unsatisfied or undismissed for a period of ten
(10) days; 

        5.     any
guaranty of the obligations of the undersigned to Lender is terminated or breached, or if any guarantor of the obligations of the undersigned to the Lender attempts
to terminate, challenge the validity of, or its liability under, any such guaranty or similar agreement, or the undersigned terminates any guaranty which he has given to Lender to secure the
indebtedness of any third party; or 

        6.     any
event of default shall occur under any agreement between Lender and the undersigned, including without limitation the Security Agreement, which is not cured within
any applicable grace period, 

 

then
this Note (x)(i) upon the occurrence of an Event of Default pursuant to subsection 3 of this Section (B) shall immediately become due and payable, without notice; and
(ii) upon the occurrence of any other Event of Default, shall become due and payable, upon delivery of written notice of such Event of Default by Lender to the undersigned, in each case
together with reasonable attorneys' fees, if the collection hereof is placed in the hands of an attorney to obtain or enforce payment hereof; and (y) shall bear interest at a rate of interest
per annum equal to fifteen percent (15%). To the extent permitted by applicable law interest shall accrue with respect to interest that is due and not paid. 

        C.    Governing Law.    This Note is being delivered in the State of New York, and shall be construed and enforced in
accordance with the laws of such State. Any judicial proceeding by the undersigned against Lender involving, directly or indirectly, any matter or claim in any way arising out of, related to or
connected with this Note, shall be brought only in federal or state court located in the City of New York, State of New York. Any judicial proceeding brought against the undersigned with respect to
this Note may be brought in any court of competent jurisdiction in the City of New York, State of New York, United States of America, and, by execution and delivery of this Note, the undersigned
accepts, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts, and irrevocably agrees to be bound by any judgment rendered thereby in connection with this
Note or any related agreement. Nothing herein shall affect the right to serve process in any manner permitted by law or shall limit the right of Lender to bring proceedings against the undersigned in
the courts of any other jurisdiction. The undersigned waives any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens. 

        D.    Waiver of Jury Trial.    THE UNDERSIGNED EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION (1) ARISING UNDER THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE
TRANSACTIONS RELATED HERETO OR THERETO IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND THE UNDERSIGNED HEREBY AGREES AND CONSENTS
THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS
WRITTEN EVIDENCE OF THIS WAIVER OF THE RIGHT TO TRIAL BY JURY. 

        E.    Notices.    All notices required hereunder shall be given in the manner set forth in the Security Agreement. 

        The
undersigned expressly waives any presentment, demand, protest, notice of protest, or notice of any kind. 

	 	 	LIGHTSPACE CORPORATION
	

 	
 	

By:	

 
	 	 	 	

                                         
         , Authorized Signatory

2

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