Document:

FY2000 10K Ex4.5

Exhibit 4.5

The Warrant and the securities issuable upon exercise of this Warrant (the
"Securities") have not been registered under the Securities Act of
1933 (the "Securities Act") or under any state securities or Blue Sky
laws ("Blue Sky Laws").  No transfer, sale, assignment, pledge,
hypothecation or other disposition of this Warrant or the Securities or any
interest therein may be made except (a) pursuant to an effective registration
statement under the Securities Act and any applicable Blue Sky Laws or (b) if
the Company has been furnished with both an opinion of counsel for the holder,
which opinion and counsel shall be reasonably satisfactory to the Company, to
the effect that no registration is required because of the availability of an
exemption from registration under the Securities Act and applicable Blue Sky
Laws, and assurances that the transfer, sale, assignment, pledge, hypothecation
or other disposition will be made only in compliance with the conditions of any
such registration or exemption.

WARRANT TO PURCHASE SHARES OF COMMON STOCK

OF POPMAIL.COM, INC.

Warrant No. JJB-2Irving, Texas

February 29, 2000

This certifies that, for value received, J. JEFFREY BRAUSCH & COMPANY, or
its successors or assigns (AHolder@) is entitled to purchase from PopMail.com,
Inc. (the ACompany@) One Hundred Fifty Thousand (150,000) fully paid and
nonassessable shares (the AShares@) of the Company=s Common Stock, $.01 par
value (the ACommon Stock@), at any time and from time to time from the date
hereof until April 20, 2004, at an exercise price of $0.75 per share (the
AExercise Price@), subject to adjustment as herein provided.

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

1.Exercise of
Warrant.  The rights represented by this Warrant may be exercised by the
Holder, in whole or in part (but not as to a fractional share of Common Stock),
by the surrender of this Warrant (properly endorsed, if required, at the
Company=s principal office in Irving, Texas, or such other office or agency of
the Company as the Company may designate by notice in writing to the Holder at
the address of such Holder appearing on the books of the Company at any time
within the period above named), and upon payment to it by certified check, bank
draft or cash of the purchase price for such Shares.  The Company agrees that
the Shares so purchased shall have and are deemed to be issued to the Holder as
the record owner of such Shares as of the close of business on the date on which
this Warrant shall have been surrendered and payment made for such Shares as
aforesaid.  Certificates for the Shares of Common Stock so purchased shall be
delivered to the Holder within a reasonable time, not exceeding ten (10) days,
after the rights represented by this Warrant shall have been so exercised, and,
unless this Warrant has expired, a new Warrant representing the number of
Shares, if any, with respect to which this Warrant shall not then have been
exercised shall also be delivered to the Holder within such time.  The Company
may require that any such new Warrant or any certificate for Shares purchased
upon the exercise hereof bear a legend substantially similar to that which is
contained on the face of this Warrant.

2.Transferability of this Warrant.  This Warrant is issued
upon the following terms, to which each Holder consents and agrees:

a.Until this
Warrant is transferred on the books of the Company, the Company will treat the
Holder of this Warrant registered as such on the books of the Company as the
absolute owner hereof for all purposes without being affected by any notice to
the contrary.

b.This Warrant may
not be exercised, and this Warrant and the Shares underlying this Warrant shall
not be transferable, except in compliance with all applicable state and federal
securities laws, regulations and orders, and with all other applicable laws,
regulations and orders.

c.The Warrant may
not be transferred, and the Shares underlying this Warrant may not be
transferred, without the Holder obtaining an opinion of counsel satisfactory in
form and substance to the Company=s counsel stating that the proposed
transaction will not result in a prohibited transaction under the Securities Act
of 1933, as amended (ASecurities Act@), and applicable Blue Sky laws.  By
accepting this Warrant, the Holder agrees to act in accordance with any
conditions reasonably imposed on such transfer by such opinion of counsel.

d.Neither this
issuance of this Warrant nor the issuance of the Shares underlying this Warrant
have been registered under the Securities Act.

3.Certain
Covenants of the Company.  The Company covenants and agrees that all Shares
which may be issued upon the exercise of the rights represented by this Warrant,
upon issuance and full payment for the Shares so purchased, will be duly
authorized and issued, fully paid and nonassessable and free from all taxes,
liens and charges with respect to the issue hereof, except those that may be
created by or imposed upon the Holder or its property, and without limiting the
generality of the foregoing, the Company covenants and agrees that it will from
time to time take all such actions as may be requisite to assure that the par
value per share of the Common Stock is at all times equal to or less than the
effective purchase price per share of the Common Stock issuable pursuant to this
Warrant.  The Company further covenants and agrees that during the period within
which the rights represented by this Warrant may be exercised, the Company will
at all times have authorized and reserved free of preemptive or other rights for
the exclusive purpose of issue upon exercise of the purchase rights evidenced by
this Warrant, a sufficient number of shares of its Common Stock to provide for
the exercise of the rights represented by this Warrant.

4.Adjustment of
Exercise Price and Number of Shares.  The Exercise Price and number of
Shares are subject to the following adjustments:

a.Adjustment of
Exercise Price for Stock Dividend, Stock Split or Stock Combination.   In
the event that (i) any dividends on any class of stock of the Company payable in
Common Stock or securities convertible into or exercisable for Common Stock
(ACommon Stock Equivalents@) shall be paid by the Company, (ii) the Company
shall subdivide its then outstanding shares of Common Stock into a greater
number of shares, or (iii) the Company shall combine its outstanding shares of
Common Stock, by reclassification or otherwise, then, in any such event, the
Exercise Price in effect immediately prior to such event shall (until adjusted
again pursuant hereto) be adjusted immediately after such event to a price
(calculated to the nearest full cent) determined by dividing (a) the number of
shares of Common Stock outstanding immediately prior to such event, multiplied
by the then existing Exercise Price, by (b) the total number of shares of Common
Stock outstanding immediately after such event, and the resulting quotient shall
be the adjusted Exercise Price per share.  No adjustment of the Exercise Price
shall be made if the amount of such adjustment shall be less than $.05 per
share, but in such case any adjustment that would otherwise be required then to
be made shall be carried forward and shall be made at the time and together with
the next subsequent adjustment which, together with any adjustment or
adjustments so carried forward, shall amount to not less than $.05 per
share.

b.Adjustment of
Number of Shares Purchasable on Exercise of Warrants.  Upon each adjustment
of the Exercise Price pursuant to this Section, the Holder shall thereafter
(until another such adjustment) be entitled to purchase at the adjusted Exercise
Price the number of shares, calculated to the nearest full share, obtained by
multiplying the number of shares specified in such Warrant (as adjusted as a
result of all adjustments in the Exercise Price in effect prior to such
adjustment) by the Exercise Price in effect prior to such adjustment and
dividing the product so obtained by the adjusted Exercise Price.

c.Notice as to
Adjustment.  Upon any adjustment of the Exercise Price and any increase or
decrease in the number of shares of Common Stock purchasable upon the exercise
of the Warrant, then, and in each such case, the Company within thirty (30) days
thereafter shall give written notice thereof, by first class mail, postage
prepaid, addressed to each Holder as shown on the books of the Company, which
notice shall state the adjusted Exercise Price and the increased or decreased
number of shares purchasable upon the exercise of the Warrants, and shall set
forth in reasonable detail the method of calculation and the facts upon which
such calculation is based.

d.Effect of
Reorganization, Reclassification, Merger, etc.  If at any time while any
Warrant is outstanding there should be any capital reorganization of the capital
stock of the Company (other than the issuance of any shares of Common Stock in
subdivision of outstanding shares of Common Stock by reclassification or
otherwise and other than a combination of shares provided for in Section 4(a)
hereof), or any consolidation or merger of the Company with another corporation,
or any sale, conveyance, lease or other transfer by the Company of all or
substantially all of its property to any other corporation, which is effected in
such a manner that the holders of Common Stock shall be entitled to receive
cash, stock, securities, or assets with respect to or in exchange for Common
Stock, then, as a part of such transaction, lawful provision shall be made so
that each Holder shall have the right thereafter to receive, upon the exercise
hereof, the number of shares of stock or other securities or property of the
Company, or of the successor corporation resulting from such consolidation or
merger, or of the corporation to which the property of the Company has been
sold, conveyed, leased or otherwise transferred, as the case may be, which the
Holder would have been entitled to receive upon such capital reorganization,
reclassification of capital stock, consolidation, merger, sale, conveyance,
lease or other transfer, if such Warrant had been exercised immediately prior to
such capital reorganization, reclassification of capital stock, consolidation,
merger, sale, conveyance, lease or other transfer.  In any such case,
appropriate adjustments (as determined by the Board of Directors of the Company)
shall be made in the application of the provisions set forth in this Warrant
(including the adjustment of the Exercise Price and the number of Shares
issuable upon the exercise of the Warrants) to the end that the provisions set
forth herein shall thereafter be applicable, as near as reasonably may be, in
relation to any shares or other property thereafter deliverable upon the
exercise of the Warrants as if the Warrants had been exercised immediately prior
to such capital reorganization, reclassification of capital stock, such
consolidation, merger, sale, conveyance, lease or other transfer and the Warrant
Holders had carried out the terms of the exchange as provided for by such
capital reorganization, consolidation or merger.  The Company shall not effect
any such capital reorganization, consolidation, merger or transfer unless, upon
or prior to the consummation thereof, the successor corporation or the
corporation to which the property of the Company has been sold, conveyed, leased
or otherwise transferred shall assume by written instrument the obligation to
deliver to each Holder such shares of stock, securities, cash or property as in
accordance with the foregoing provisions such Holder shall be entitled to
purchase.

5.No Rights as
Stockholders.  This Warrant shall not entitle the Holder as such to any
voting rights or other rights as a stockholder of the Company.

6.Registration
Rights.  If at any time on or after October 1, 1999, the Company shall
propose to file any registration statement (other than any registration on Form
S-4, S-8 or any other similarly inappropriate form, or any successor forms
thereto) under the 1933 Act covering a public offering of the Company's Common
Stock, it will notify the Holder hereof at least thirty (30) days prior to each
such filing and will use its best efforts to include in the Registration
Statement (to the extent permitted by applicable regulation), the Common Stock
purchased or purchasable by the Holder upon the exercise of the Warrant to the
extent requested by the Holder hereof within twenty (20) days after receipt of
notice of such filing (which request shall specify the interest in this Warrant
or the Warrant Shares intended to be sold or disposed of by such Holder and
describe the nature of any proposed sale or other disposition thereof);
provided, however, that if a greater number of Warrants and Warrant Shares is
offered for participation in the proposed offering than in the reasonable
opinion of the managing underwriter of the proposed offering can be accommodated
without adversely affecting the proposed offering, then the amount of Warrant
and Warrant Shares proposed to be offered by such Holders for registration, as
well as the number of securities of any other selling shareholders participating
in the registration, shall be proportionately reduced to a number deemed
satisfactory by the managing underwriter.  The Company shall bear all expenses
and fees incurred in connection with the preparation, filing, and amendment of
the Registration Statement with the Commission, except that the Holder shall pay
all fees, disbursements and expenses of any counsel or expert retained by the
Holder and all underwriting discounts and commissions, filing fees and any
transfer or other taxes relating to the Shares included in the Registration
Statement.   The Holder of this Warrant agrees to cooperate with the Company in
the preparation and filing of any Registration Statement, and in the furnishing
of information concerning the Holder for inclusion therein, or in any efforts by
the Company to establish that the proposed sale is exempt under the 1933 Act as
to any proposed distribution.

7.Governing
Law.  This Warrant shall be governed by and construed in accordance with the
laws of the State of Minnesota.

8.Amendments
and Waivers.  The provisions of this Warrant may not be amended, modified or
supplemented, and waiver or consents to departures from the provisions hereof
may not be given, unless the Company agrees in writing and has obtained the
written consent of the Holders.

9.Notices.
All notices or communications hereunder, except as herein otherwise specifically
provided, shall be in writing and if sent to the Holder shall be mailed,
delivered, or telefaxed and confirmed to the Holder at his or her address set
forth on the records of the Company; or if sent to the Company shall be mailed,
delivered, or telefaxed and confirmed to PopMail.com, Inc., 1333 Corporate
Drive, Suite 350, Irving, TX   75038 or to such other address as the Company or
the Holder shall notify the other as provided in this Section.

IN WITNESS WHEREOF, PopMail.com, Inc. has caused this Warrant to be signed by
its duly authorized officer in the date set forth above.

PopMail.com, Inc.

 
______________________

Stephen D. King

Chairman of the Board

SUBSCRIPTION FORM

To be signed only upon exercise of Warrant.

The undersigned, the holder of the within Warrant, hereby irrevocably elects
to exercise the purchase right represented by such Warrant for, and to purchase
thereunder, ____________________ of the shares of Common Stock of PopMail.com,
Inc. (the AShares@)  to which such Warrant relates and herewith makes payment of
$_____________ therefor in cash, certified check or bank draft and requests that
a certificate evidencing the Shares be delivered to,
_______________________________, the address for whom is set forth below the
signature of the undersigned:

Dated: ____________________

 

(Signature)

(Address)

 

ASSIGNMENT FORM

To be signed only upon authorized transfer of Warrant.

FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto
_____________________________________ the right to purchase shares of Common
Stock of PopMail.com, Inc. to which the within Warrant relates and appoints
____________________ attorney, to transfer said right on the books of
_________________ with full power of substitution in the premises.

Dated: ____________________

(Signature)

(Address)FY2000 10K Ex4.14

Exhibit 4.14

 

SCHEDULE OF WARRANTS ISSUED AND OUTSTANDING

(GFP SERIES AND BCP SERIES)

Date of					Warrant		Number of 	Exercise Price
Issuance		Name of Warrant Recipient		Number		Shares	Expiration Date

12/2/99		Gulfstream Financial Partners	GFP-14(2)		50,000	Exercise price $15.00
								Expires 12/2/04

12/1/99		Henry Fong, Jr.		GFP-15a	  	5,000	Exercise price $16.25
								Expires 12/1/04

12/1/99		Lauren Fong			GFP-15b	  	5,000	Exercise price $16.25
								Expires 12/1/04

12/1/99		Benjamin Private School		GFP-15c	  	5,000	Exercise price $16.25
								Expires 12/1/04

12/1/99		Barry Hollander		GFP-15d	  	5,000	Exercise price $16.25
								Expires 12/1/04

12/1/99		Gulfstream Financial Partners	GFP-15e		15,000	Exercise price $16.25
								Expires 12/1/04

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