Document:

Exhibit 4.3
                                                                     -----------

                                [FORM OF WARRANT]

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES  REPRESENTED BY THIS CERTIFICATE
NOR THE  SECURITIES  INTO  WHICH  THESE  SECURITIES  ARE  EXERCISABLE  HAVE BEEN
REGISTERED  UNDER THE  SECURITIES ACT OF 1933, AS AMENDED,  OR APPLICABLE  STATE
SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,  SOLD,  TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE  REGISTRATION  STATEMENT  FOR
THE SECURITIES  UNDER THE SECURITIES ACT OF 1933, AS AMENDED,  OR (B) AN OPINION
OF COUNSEL,  IN A GENERALLY  ACCEPTABLE FORM, THAT  REGISTRATION IS NOT REQUIRED
UNDER SAID ACT OR (II) UNLESS SOLD  PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING  ARRANGEMENT  SECURED
BY THE SECURITIES.

                               AROTECH CORPORATION

                        WARRANT TO PURCHASE COMMON STOCK

Warrant No.:__________
Number of Shares of Common Stock:__________
Date of Issuance: September 29, 2005 ("Issuance Date")

      AROTECH  CORPORATION,  a  Delaware  corporation  (the  "Company"),  hereby
certifies that, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, [SMITHFIELD FIDUCIARY LLC] [OTHER BUYERS], the
registered holder hereof or its permitted  assigns (the "Holder"),  is entitled,
subject to the terms set forth  below,  to  purchase  from the  Company,  at the
Exercise  Price (as defined  below)  then in effect,  at any time or times on or
after March 29, 2006 (the "Initial  Exercise  Date"),  but not after 11:59 p.m.,
New York  Time,  on the  Expiration  Date  (as  defined  below),  ______________
(_____________)(1)  fully paid nonassessable  shares of Common Stock (as defined
below) (the "Warrant Shares").  Except as otherwise defined herein,  capitalized
terms in this  Warrant  shall have the  meanings  set forth in Section  15. This
Warrant  (including  all Warrants  issued in exchange,  transfer or  replacement
hereof,  the  "Warrants")  is one of the Warrants to purchase  Common Stock (the
"SPA Warrants") issued pursuant to Section 1 of that certain Securities Purchase
Agreement,  dated as of September  29, 2005 (the  "Subscription  Date"),  by and
among the Company and the  investors  (the  "Buyers")  referred to therein  (the
"Securities Purchase Agreement").

----------
(1) Insert holder's pro rata share of 5,250,000.

<PAGE>

      1. EXERCISE OF WARRANT.

            (a)  Mechanics  of  Exercise.  Subject  to the terms and  conditions
hereof  (including,  without  limitation,  the  limitations set forth in Section
1(g)), this Warrant may be exercised by the Holder on any day from and after the
Initial Exercise Date, in whole or in part, by (i) delivery of a written notice,
in the form  attached  hereto  as  Exhibit  I (the  "Exercise  Notice"),  of the
Holder's  election to exercise  this Warrant and (ii) (A) payment to the Company
of an amount equal to the applicable  Exercise Price multiplied by the number of
Warrant  Shares as to which this  Warrant  is being  exercised  (the  "Aggregate
Exercise Price") in cash or wire transfer of immediately  available funds or (B)
by  notifying  the Company that this  Warrant is being  exercised  pursuant to a
Cashless  Exercise (as defined in Section 1(d)) by delivery of a written notice,
in the form attached  hereto as Exhibit II. The date the Exercise Notice and the
Aggregate Exercise Price (or notice of a Cashless Exercise) are delivered to the
Company (as determined in accordance  with the notice  provisions  hereof) is an
"Exercise  Date".  The Holder  shall not be  required  to deliver  the  original
Warrant in order to effect an exercise hereunder.  Execution and delivery of the
Exercise  Notice with respect to less than all of the Warrant  Shares shall have
the same effect as  cancellation  of the original  Warrant and issuance of a new
Warrant evidencing the right to purchase the remaining number of Warrant Shares.
On or before the first  Business Day  following the Exercise  Date,  the Company
shall transmit by facsimile an  acknowledgment of confirmation of receipt of the
Exercise Notice and the Aggregate Exercise Price to the Holder and the Company's
transfer  agent (the  "Transfer  Agent").  On or before the third  Business  Day
following  the Exercise  Date,  the Company  shall direct the Transfer  Agent to
credit through The Depository  Trust Company  ("DTC") Fast Automated  Securities
Transfer  Program,  such aggregate number of shares of Common Stock to which the
Holder is entitled  pursuant to such exercise to the Holder's or its  designee's
balance account with DTC through its Deposit Withdrawal Agent Commission system.
On the Exercise Date,  the Holder shall be deemed for all corporate  purposes to
have  become the holder of record of the Warrant  Shares  with  respect to which
this  Warrant has been  exercised,  irrespective  of the date of delivery of the
certificates  evidencing such Warrant Shares.  Upon surrender of this Warrant to
the Company following one or more partial  exercises,  the Company shall as soon
as  practicable  and in no event later than three Business Days after receipt of
the Warrant and at its own  expense,  issue a new  Warrant (in  accordance  with
Section 7(d))  representing  the right to purchase the number of Warrant  Shares
purchasable  immediately  prior to such exercise  under this  Warrant,  less the
number of Warrant  Shares with  respect to which this Warrant is  exercised.  No
fractional  shares of Common  Stock are to be issued  upon the  exercise of this
Warrant,  but rather the number of shares of Common  Stock to be issued shall be
rounded up to the nearest whole number.  The Company shall pay any and all taxes
which may be payable with respect to the issuance and delivery of Warrant Shares
upon  exercise  of this  Warrant.  In the event  that the  Company  is unable to
electronically deliver the Warrant Shares because of applicable securities laws,
then the Company  shall issue and  deliver to the  address as  specified  in the
Exercise  Notice a  certificate,  registered  in the name of the  Holder  or its
designee,  for the number of shares of Common  Stock to which the holder of this
Warrant is entitled pursuant to such exercise.

            (b) Exercise Price.  For purposes of this Warrant,  "Exercise Price"
means $1.10, subject to adjustment as provided herein.

                                      -2-
<PAGE>

            (c) Company's  Failure to Timely Deliver Shares.  Subject to Section
1(g),  if the Company  shall fail for any reason or for no reason  within  three
Business Days of the Exercise Date to credit the Holder's  balance  account with
DTC for such  number of shares of Common  Stock to which the Holder is  entitled
upon the Holder's exercise of this Warrant, and if after such third Business 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 that the Holder anticipated receiving from the Company (a "Buy-In"), then
the Company shall,  within three Business Days after the Holder's request and in
the Holder's discretion, either (i) pay cash to the Holder in an amount equal to
the Holder's total purchase price (including brokerage commissions,  if any) for
the shares of Common Stock so purchased (the "Buy-In Price"), at which point the
Company's  obligation to issue such shares of Common Stock shall  terminate,  or
(ii) promptly honor its obligation to credit to the Holder such shares of Common
Stock and pay cash to the  Holder in an amount  equal to the  excess (if any) of
the Buy-In Price over the product of (A) such number of shares of Common  Stock,
times (B) the  Closing  Sale Price on the date of the event  giving  rise to the
Company's  obligation to deliver such  certificate.  Subject to Section 1(g), if
the Company  shall fail for any reason or for no reason  within  three  Business
Days of the Exercise  Date to credit the Holder's  balance  account with DTC for
such number of shares of Common  Stock to which the Holder is entitled  upon the
Holder's  exercise  of this  Warrant,  then the  Holder  will  have the right to
rescind such exercise.

            (d) Cashless Exercise.  Notwithstanding anything contained herein to
the contrary, if at any time during the period commencing ten (10) Business Days
prior to the  Holder's  delivery of an Exercise  Notice and ending on the day of
delivery of the Exercise Notice,  the Registration  Statement (as defined in the
Registration  Rights Agreement) covering the Warrant Shares that are the subject
of the Exercise Notice (the  "Unavailable  Warrant Shares") is not available for
the resale of such  Unavailable  Warrant  Shares,  the Holder  may,  in its sole
discretion, exercise this Warrant in whole or in part and, in lieu of making the
cash payment otherwise contemplated to be made to the Company upon such exercise
in payment of the Aggregate  Exercise Price,  elect instead to receive upon such
exercise the "Net Number" of shares of Common Stock determined  according to the
following formula (a "Cashless Exercise"):

            Net Number = (A x B) - (A x C)
                         -----------------
                                 B

            For purposes of the foregoing formula:

            A= the total  number of shares with respect to which this Warrant is
            then being exercised.

            B= the Closing Sale Price of the shares of Common Stock (as reported
            by  Bloomberg)  on the date  immediately  preceding  the date of the
            Exercise Notice.

            C= the  Exercise  Price  then in effect for the  applicable  Warrant
            Shares at the time of such exercise.

                                      -3-
<PAGE>

            (e) Absolute and Unconditional Obligation. 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,  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.  Nothing  herein shall limit the Holder's
right to pursue  any other  remedies  available  to it  hereunder,  at law or in
equity,  including,  without limitation, a decree of specific performance and/or
injunctive  relief  with  respect to the  Company's  failure  to timely  deliver
certificates  representing  Warrant  Shares  upon  exercise  of the  Warrant  as
required pursuant to the terms hereof.

            (f) Disputes.  In the case of a dispute as to the  determination  of
the Exercise Price or the  arithmetic  calculation  of the Warrant  Shares,  the
Company shall promptly issue to the Holder the number of Warrant Shares that are
not disputed and resolve such dispute in accordance with Section 12.

            (g) Limitations on Exercises

                  (i)  Beneficial  Ownership.  The Company  shall not effect the
exercise of this  Warrant,  and the Holder  shall not have the right to exercise
this  Warrant,  to the extent that after giving  effect to such  exercise,  such
Person (together with such Person's affiliates) would beneficially own in excess
of 4.99% of the shares of Common  Stock  outstanding  immediately  after  giving
effect to such exercise.  For purposes of the foregoing sentence,  the aggregate
number of  shares of Common  Stock  beneficially  owned by such  Person  and its
affiliates  shall  include the number of shares of Common  Stock  issuable  upon
exercise  of this  Warrant  with  respect  to which  the  determination  of such
sentence is being made,  but shall exclude shares of Common Stock which would be
issuable upon (i) exercise of the remaining, unexercised portion of this Warrant
beneficially  owned by such  Person  and its  affiliates  and (ii)  exercise  or
conversion of the unexercised or unconverted  portion of any other securities of
the Company  beneficially  owned by such Person and its  affiliates  (including,
without limitation,  any convertible notes, convertible debentures,  convertible
preferred  stock or warrants)  subject to a limitation on conversion or exercise
analogous  to the  limitation  contained  herein.  Except  as set  forth  in the
preceding sentence,  for purposes of this paragraph,  beneficial ownership shall
be calculated in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended.  For purposes of this Warrant,  in  determining  the number of
outstanding  shares  of  Common  Stock,  the  Holder  may rely on the  number of
outstanding shares of Common Stock as reflected in (1) the Company's most recent
Form 10-K, Form 10-Q, Current Report on Form 8-K or other public filing with the
Securities and Exchange Commission, as the case may be, (2) a more recent public
announcement  by the  Company  or (3) any  other  notice by the  Company  or the
Transfer  Agent setting forth the number of shares of Common Stock  outstanding.
For any reason at any time, upon the written or oral request of the Holder,  the
Company  shall  within two Business  Days  confirm  orally and in writing to the
Holder the number of shares of Common Stock then  outstanding.  In any case, the
number of  outstanding  shares of Common Stock shall be determined  after giving
effect to the conversion or exercise of securities of the Company, including the
SPA Securities and the SPA Warrants,  by the Holder and its affiliates since the
date as of which such number of outstanding shares of Common Stock was reported.

                                      -4-
<PAGE>

                  (ii)  Principal  Market  Regulation.  The Company shall not be
obligated to issue any shares of Common  Stock upon  exercise of this Warrant if
the  issuance of such shares of Common  Stock would exceed that number of shares
of Common  Stock  which the  Company  may issue upon  exercise  of this  Warrant
(including, as applicable,  any shares of Common Stock issued upon conversion of
the SPA Securities) without breaching the Company's  obligations under the rules
or regulations of the Principal  Market (the "Exchange  Cap"),  except that such
limitation shall not apply in the event that the Company obtains the approval of
its stockholders as required by the applicable rules of the Principal Market for
issuances  of shares  of Common  Stock in  excess  of such  amount.  Until  such
approval is obtained, no Buyer shall be issued, upon exercise or conversion,  as
applicable, of any SPA Warrants or SPA Securities,  shares of Common Stock in an
amount  greater than the product of the Exchange Cap  multiplied  by a fraction,
the numerator of which is the total number of shares of Common Stock  underlying
the SPA  Warrants  issued to such  Buyer  pursuant  to the  Securities  Purchase
Agreement on the Subscription Date and the denominator of which is the aggregate
number of  shares of Common  Stock  underlying  all the  Warrants  issued to the
Buyers pursuant to the Securities  Purchase  Agreement on the Subscription  Date
(with respect to each Buyer, the "Exchange Cap  Allocation").  In the event that
any Buyer shall sell or otherwise transfer any of such Buyer's SPA Warrants, the
transferee  shall be allocated a pro rata  portion of such Buyer's  Exchange Cap
Allocation,  and the  restrictions  of the prior  sentence  shall  apply to such
transferee with respect to the portion of the Exchange Cap Allocation  allocated
to such transferee.  In the event that any holder of SPA Warrants shall exercise
all of such holder's SPA Warrants into a number of shares of Common Stock which,
in the aggregate,  is less than such holder's Exchange Cap Allocation,  then the
difference  between  such  holder's  Exchange Cap  Allocation  and the number of
shares of Common Stock actually  issued to such holder shall be allocated to the
respective  Exchange Cap Allocations of the remaining holders of SPA Warrants on
a pro rata basis in proportion to the shares of Common Stock  underlying the SPA
Warrants  then  held by each  such  holder.  In the event  that the  Company  is
prohibited from issuing any Warrant Shares for which an Exercise Notice has been
received as a result of the  operation  of this  Section  1(f)(ii),  the Company
shall pay cash in exchange for  cancellation of such Warrant Shares,  at a price
per Warrant Share equal to the difference between the Closing Sale Price and the
Exercise Price as of the date of the attempted exercise.

      2. ADJUSTMENT  UPON  SUBDIVISION OR COMBINATION OF SHARES OF COMMON STOCK.
If the Company at any time on or after the Subscription  Date subdivides (by any
stock split, stock dividend,  recapitalization or otherwise) one or more classes
of its outstanding  shares of Common Stock into a greater number of shares,  the
Exercise  Price  in  effect  immediately  prior  to  such  subdivision  will  be
proportionately reduced and the number of Warrant Shares will be proportionately
increased. If the Company at any time on or after the Subscription Date combines
(by  combination,  reverse stock split or otherwise)  one or more classes of its
outstanding shares of Common Stock into a smaller number of shares, the Exercise
Price in effect  immediately  prior to such combination will be  proportionately
increased and the number of Warrant  Shares will be  proportionately  decreased.
Any  adjustment  under this Section 2(a) shall become  effective at the close of
business on the date the subdivision or combination becomes effective.

                                      -5-
<PAGE>

      3. RIGHTS UPON  DISTRIBUTION  OF ASSETS.  If the Company  shall declare or
make any dividend or other  distribution of its assets (or rights to acquire its
assets)  to holders  of shares of Common  Stock,  by way of return of capital or
otherwise  (including,  without  limitation,  any distribution of cash, stock or
other  securities,  property  or  options  by  way  of  a  dividend,  spin  off,
reclassification,  corporate  rearrangement  or other  similar  transaction)  (a
"Distribution"),  at any time after the issuance of this Warrant,  then, in each
such case:

            (a) any Exercise Price in effect  immediately  prior to the close of
business on the record date fixed for the  determination of holders of shares of
Common Stock entitled to receive the Distribution shall be reduced, effective as
of the  close  of  business  on  such  record  date,  to a price  determined  by
multiplying  such Exercise Price by a fraction of which (i) the numerator  shall
be the  Closing  Bid  Price of the  shares of Common  Stock on the  trading  day
immediately  preceding such record date minus the value of the  Distribution (as
determined in good faith by the Company's Board of Directors)  applicable to one
share of Common Stock,  and (ii) the denominator  shall be the Closing Bid Price
of the shares of Common  Stock on the trading  day  immediately  preceding  such
record date; and

            (b) the number of Warrant  Shares  shall be increased to a number of
shares  equal to the  number of shares of Common  Stock  obtainable  immediately
prior to the close of business on the record date fixed for the determination of
holders  of  shares  of  Common  Stock  entitled  to  receive  the  Distribution
multiplied  by the  reciprocal  of the  fraction  set  forth in the  immediately
preceding  paragraph (a); provided that in the event that the Distribution is of
shares of Common Stock (or common stock)  ("Other  Shares of Common Stock") of a
company  whose common shares are traded on a national  securities  exchange or a
national  automated  quotation  system,  then the  Holder may elect to receive a
warrant to purchase  Other  Shares of Common Stock in lieu of an increase in the
number of Warrant Shares, the terms of which shall be identical to those of this
Warrant, except that such warrant shall be exercisable into the number of shares
of Other  Shares of Common  Stock  that  would  have been  payable to the Holder
pursuant to the Distribution  had the Holder exercised this Warrant  immediately
prior to such  record  date and with an  aggregate  exercise  price equal to the
product of the amount by which the exercise  price of this Warrant was decreased
with  respect  to the  Distribution  pursuant  to the  terms of the  immediately
preceding  paragraph  (a)  and  the  number  of  Warrant  Shares  calculated  in
accordance with the first part of this paragraph (b).

      4. PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

            (a)  Purchase  Rights.  In addition to any  adjustments  pursuant to
Section 2 above, if at any time the Company grants, issues or sells any Options,
Convertible  Securities  or rights to purchase  stock,  warrants,  securities or
other  property pro rata to the record  holders of any class of shares of Common
Stock (the "Purchase Rights"), then the Holder will be entitled to acquire, upon
the terms  applicable to such Purchase  Rights,  the aggregate  Purchase  Rights
which the Holder could have acquired if the Holder had held the number of shares
of Common Stock  acquirable  upon  complete  exercise of this  Warrant  (without
regard to any  limitations on the exercise of this Warrant)  immediately  before
the date on which a record  is taken  for the  grant,  issuance  or sale of such
Purchase Rights, or, if no such record is taken, the date as of which the record
holders of shares of Common Stock are to be determined  for the grant,  issue or
sale of such Purchase Rights.

                                      -6-
<PAGE>

            (b) Fundamental Transactions. The Company shall not enter into or be
party to a Fundamental  Transaction  unless (i) the Successor  Entity assumes in
writing all of the  obligations  of the Company under this Warrant and the other
Transaction  Documents in accordance  with the provisions of this Section (4)(b)
pursuant to written agreements in form and substance reasonably  satisfactory to
the Required Holders, including agreements to deliver to each holder of Warrants
in exchange for such Warrants a security of the Successor  Entity evidenced by a
written instrument  substantially similar in form and substance to this Warrant,
including, without limitation, an adjusted exercise price equal to the value for
the  shares  of  Common  Stock  reflected  by  the  terms  of  such  Fundamental
Transaction,  and exercisable  for a  corresponding  number of shares of capital
stock  equivalent to the shares of Common Stock  acquirable and receivable  upon
exercise of this Warrant  (without  regard to any limitations on the exercise of
this Warrant) prior to such  Fundamental  Transaction,  and  satisfactory to the
Required Holders and (ii) the Successor Entity  (including its Parent Entity) is
a publicly  traded  corporation  whose  common  stock is quoted on or listed for
trading  on  an  Eligible  Market.   Upon  the  occurrence  of  any  Fundamental
Transaction,  the Successor  Entity shall succeed to, and be substituted for (so
that from and after the date of such Fundamental Transaction,  the provisions of
this Warrant  referring to the  "Company"  shall refer  instead to the Successor
Entity),  and may exercise every right and power of the Company and shall assume
all of the obligations of the Company under this Warrant with the same effect as
if such Successor Entity had been named as the Company herein. Upon consummation
of the Fundamental Transaction, the Successor Entity shall deliver to the Holder
confirmation  that there  shall be issued upon  exercise of this  Warrant at any
time  after the  consummation  of the  Fundamental  Transaction,  in lieu of the
shares of the Common Stock (or other securities, cash, assets or other property)
purchasable  upon  the  exercise  of  the  Warrant  prior  to  such  Fundamental
Transaction, such shares of the publicly traded common stock (or its equivalent)
of the Successor Entity (including its Parent Entity), as adjusted in accordance
with the provisions of this Warrant.  In addition to and not in substitution for
any  other  rights  hereunder,  prior  to the  consummation  of any  Fundamental
Transaction  pursuant to which holders of shares of Common Stock are entitled to
receive  securities or other assets with respect to or in exchange for shares of
Common Stock (a "Corporate Event"), the Company shall make appropriate provision
to insure  that the Holder  will  thereafter  have the right to receive  upon an
exercise of this Warrant at any time after the  consummation  of the Fundamental
Transaction  but  prior to the  Expiration  Date,  in lieu of the  shares of the
Common Stock (or other securities,  cash, assets or other property)  purchasable
upon the exercise of the Warrant  prior to such  Fundamental  Transaction,  such
shares of stock,  securities,  cash,  assets  or any other  property  whatsoever
(including  warrants or other purchase or subscription  rights) which the Holder
would have been  entitled  to receive  upon the  happening  of such  Fundamental
Transaction had the Warrant been exercised immediately prior to such Fundamental
Transaction.  Provision  made pursuant to the preceding  sentence  shall be in a
form  and  substance  reasonably  satisfactory  to  the  Required  Holders.  The
provisions  of this  Section  shall apply  similarly  and equally to  successive
Fundamental  Transactions  and  Corporate  Events and shall be  applied  without
regard to any limitations on the exercise of this Warrant.

                                      -7-
<PAGE>

      5.  NONCIRCUMVENTION.  The Company  hereby  covenants  and agrees that the
Company will not, by amendment of its  Certificate of  Incorporation,  Bylaws or
through any reorganization, transfer of assets, consolidation, merger, scheme of
arrangement,  dissolution,  issue or sale of securities,  or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms
of  this  Warrant,  and  will  at all  times  in good  faith  carry  out all the
provisions of this Warrant and take all action as may be required to protect the
rights of the Holder.  Without  limiting the  generality of the  foregoing,  the
Company  (i) shall not  increase  the par  value of any  shares of Common  Stock
receivable  upon the exercise of this Warrant  above the Exercise  Price then in
effect,  (ii) shall take all such actions as may be necessary or  appropriate in
order  that  the  Company   may  validly  and  legally   issue  fully  paid  and
nonassessable  shares of Common  Stock upon the  exercise of this  Warrant,  and
(iii) shall, so long as any of the SPA Warrants are outstanding, take all action
necessary  to reserve and keep  available  out of its  authorized  and  unissued
shares of Common Stock,  solely for the purpose of effecting the exercise of the
SPA Warrants, 100% of the number of shares of Common Stock as shall from time to
time be necessary to effect the  exercise of the SPA Warrants  then  outstanding
(without regard to any limitations on exercise).

      6.  WARRANT  HOLDER  NOT  DEEMED  A   STOCKHOLDER.   Except  as  otherwise
specifically  provided herein, the Holder, solely in such Person's capacity as a
holder of this Warrant, shall not be entitled to vote or receive dividends or be
deemed the holder of share  capital of the  Company for any  purpose,  nor shall
anything  contained  in this  Warrant be  construed  to confer  upon the Holder,
solely in such  Person's  capacity  as the  Holder of this  Warrant,  any of the
rights of a  stockholder  of the Company or any right to vote,  give or withhold
consent to any corporate  action  (whether any  reorganization,  issue of stock,
reclassification  of stock,  consolidation,  merger,  conveyance or  otherwise),
receive  notice of  meetings,  receive  dividends  or  subscription  rights,  or
otherwise,  prior to the issuance to the Holder of the Warrant Shares which such
Person is then  entitled to receive  upon the due exercise of this  Warrant.  In
addition,  nothing  contained in this Warrant shall be construed as imposing any
liabilities  on the Holder to purchase  any  securities  (upon  exercise of this
Warrant  or  otherwise)  or  as a  stockholder  of  the  Company,  whether  such
liabilities  are  asserted  by the  Company  or by  creditors  of  the  Company.
Notwithstanding this Section 6, the Company shall provide the Holder with copies
of the same  notices  and other  information  given to the  stockholders  of the
Company   generally,   contemporaneously   with  the   giving   thereof  to  the
stockholders.

      7. REISSUANCE OF WARRANTS.

            (a) Transfer of Warrant.  If this Warrant is to be transferred,  the
Holder shall  surrender this Warrant to the Company,  whereupon the Company will
forthwith  issue and  deliver  upon the order of the  Holder a new  Warrant  (in
accordance   with  Section   7(d)),   registered  as  the  Holder  may  request,
representing   the  right  to  purchase  the  number  of  Warrant  Shares  being
transferred  by the Holder and, if less then the total number of Warrant  Shares
then underlying this Warrant is being transferred,  a new Warrant (in accordance
with Section 7(d)) to the Holder  representing  the right to purchase the number
of Warrant Shares not being transferred.

                                      -8-
<PAGE>

            (b) Lost, Stolen or Mutilated  Warrant.  Upon receipt by the Company
of  evidence  reasonably  satisfactory  to  the  Company  of  the  loss,  theft,
destruction  or mutilation of this Warrant,  and, in the case of loss,  theft or
destruction,  of any indemnification undertaking by the Holder to the Company in
customary form and, in the case of mutilation,  upon surrender and  cancellation
of this  Warrant,  the  Company  shall  execute  and deliver to the Holder a new
Warrant (in accordance with Section 7(d)) representing the right to purchase the
Warrant Shares then underlying this Warrant.

            (c)   Exchangeable   for   Multiple   Warrants.   This   Warrant  is
exchangeable, upon the surrender hereof by the Holder at the principal office of
the Company,  for a new Warrant or Warrants (in  accordance  with Section  7(d))
representing in the aggregate the right to purchase the number of Warrant Shares
then underlying this Warrant, and each such new Warrant will represent the right
to purchase  such portion of such Warrant  Shares as is designated by the Holder
at the  time  of  such  surrender;  provided,  however,  that  no  Warrants  for
fractional shares of Common Stock shall be given.

            (d)  Issuance of New  Warrants.  Whenever the Company is required to
issue a new Warrant pursuant to the terms of this Warrant,  such new Warrant (i)
shall be of like tenor with this Warrant, (ii) shall represent,  as indicated on
the face of such new  Warrant,  the right to purchase  the  Warrant  Shares then
underlying  this Warrant (or in the case of a new Warrant being issued  pursuant
to Section 7(a) or Section  7(c),  the Warrant  Shares  designated by the Holder
which,  when added to the number of shares of Common Stock  underlying the other
new Warrants issued in connection with such issuance, does not exceed the number
of Warrant Shares then  underlying  this Warrant),  (iii) shall have an issuance
date,  as  indicated  on the face of such new  Warrant  which is the same as the
Issuance  Date,  and (iv) shall  have the same  rights  and  conditions  as this
Warrant.

                                      -9-
<PAGE>

      8.  NOTICES.  Whenever  notice is required to be given under this Warrant,
unless otherwise provided herein,  such notice shall be given in accordance with
Section 9(f) of the Securities Purchase Agreement. The Company shall provide the
Holder with prompt written notice of all actions taken pursuant to this Warrant,
including  in  reasonable  detail a  description  of such  action and the reason
therefore.  Without  limiting the generality of the foregoing,  the Company will
give written  notice to the Holder (i)  immediately  upon any  adjustment of the
Exercise  Price,  setting  forth  in  reasonable  detail,  and  certifying,  the
calculation  of such  adjustment  and (ii) promptly  after the date on which the
Company  establishes  a  record  date  (A)  with  respect  to  any  dividend  or
distribution  upon the shares of Common  Stock,  (B) with respect to any grants,
issuances or sales of any Options,  Convertible Securities or rights to purchase
stock,  warrants,  securities  or other  property to holders of shares of Common
Stock or (C) for  determining  rights to vote with  respect  to any  Fundamental
Transaction,  dissolution  or  liquidation,  provided  in each  case  that  such
information  shall be made known to the public prior to or in  conjunction  with
such notice being provided to the Holder.

      9.  AMENDMENT  AND  WAIVER.  Except  as  otherwise  provided  herein,  the
provisions  of this  Warrant  may be amended and the Company may take any action
herein prohibited, or omit to perform any act herein required to be performed by
it,  only if the  Company  has  obtained  the  written  consent of the  Required
Holders; provided that no such action may increase the exercise price of any SPA
Warrant  or  decrease  the  number of shares or class of stock  obtainable  upon
exercise of any SPA Warrant without the written  consent of the Holder.  No such
amendment  shall be  effective to the extent that it applies to less than all of
the holders of the SPA Warrants then outstanding.

      10.  GOVERNING  LAW.  This Warrant  shall be governed by and construed and
enforced in accordance  with,  and all questions  concerning  the  construction,
validity,  interpretation  and performance of this Warrant shall be governed by,
the internal laws of the State of New York,  without giving effect to any choice
of law or conflict of law provision or rule (whether of the State of New York or
any other  jurisdictions)  that would cause the  application  of the laws of any
jurisdictions other than the State of New York.

      11.  CONSTRUCTION;  HEADINGS.  This Warrant  shall be deemed to be jointly
drafted by the Company and all the Buyers and shall not be construed against any
person as the drafter  hereof.  The headings of this Warrant are for convenience
of reference and shall not form part of, or affect the  interpretation  of, this
Warrant.

      12. DISPUTE  RESOLUTION.  In the case of a dispute as to the determination
of the Exercise Price or the arithmetic  calculation of the Warrant Shares,  the
Company shall submit the disputed  determinations or arithmetic calculations via
facsimile within two Business Days of receipt of the Exercise Notice giving rise
to such  dispute,  as the case may be,  to the  Holder.  If the  Holder  and the
Company  are  unable to agree  upon such  determination  or  calculation  of the
Exercise Price or the Warrant Shares within three Business Days of such disputed
determination or arithmetic  calculation being submitted to the Holder, then the
Company  shall,  within two Business  Days submit via facsimile (a) the disputed
determination of the Exercise Price to an independent, reputable investment bank
selected  by the  Company  and  approved  by the  Holder  or  (b)  the  disputed
arithmetic  calculation  of the  Warrant  Shares to the  Company's  independent,
outside  accountant.  The Company shall cause at its expense the investment bank
or the  accountant,  as the  case  may be,  to  perform  the  determinations  or
calculations  and notify the Company and the Holder of the results no later than
ten  Business  Days from the time it receives  the  disputed  determinations  or
calculations.   Such  investment   bank's  or  accountant's   determination   or
calculation,  as the  case may be,  shall be  binding  upon all  parties  absent
demonstrable error.

                                      -10-
<PAGE>

      13.  REMEDIES,  OTHER  OBLIGATIONS,  BREACHES AND INJUNCTIVE  RELIEF.  The
remedies  provided in this Warrant  shall be  cumulative  and in addition to all
other remedies available under this Warrant and the other Transaction Documents,
at law or in equity  (including  a decree of specific  performance  and/or other
injunctive relief), and nothing herein shall limit the right of the Holder right
to pursue actual damages for any failure by the Company to comply with the terms
of this Warrant. The Company acknowledges that a breach by it of its obligations
hereunder will cause  irreparable  harm to the Holder and that the remedy at law
for any such breach may be inadequate. The Company therefore agrees that, in the
event of any such breach or threatened  breach, the holder of this Warrant shall
be  entitled,  in addition to all other  available  remedies,  to an  injunction
restraining  any breach,  without the  necessity  of showing  economic  loss and
without any bond or other security being required.

      14. TRANSFER.

            (a) This  Warrant  may be offered  for sale,  sold,  transferred  or
assigned in compliance  with the Federal and state  securities  laws without the
consent of the Company.

            (b) Except as provided in Section  2(f) of the  Securities  Purchase
Agreement,  the Company may cause the legend set forth on the first page of this
Warrant to be set forth on each  Warrant,  and a similar  legend on any security
issued or issuable upon exercise of this Warrant, unless counsel for the Company
is of the opinion as to any such security that such legend is unnecessary.

      15.  PAYMENT OF TAXES.  The Company will pay any  documentary  stamp taxes
attributable  to the  initial  issuance  of  Warrant  Shares  issuable  upon the
exercise  of the  Warrant;  provided,  however,  that the  Company  shall not be
required to pay any tax or taxes which may be payable in respect of any transfer
involved in the issuance or delivery of any certificates for Warrant Shares in a
name other than that of the Holder in respect of which such  shares are  issued,
and in such case,  the  Company  shall not be  required  to issue or deliver any
certificate  for Warrant  Shares or any Warrant until the person  requesting the
same has paid to the  Company the amount of such tax or has  established  to the
Company's reasonable  satisfaction that such tax has been paid. The Holder shall
be responsible  for income taxes due under  federal,  state or other law, if any
such tax is due.

      16. CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms
shall have the following meanings:

            (a) "Bloomberg" means Bloomberg Financial Markets.

                                      -11-
<PAGE>

            (b)  "Business  Day"  means any day other than  Saturday,  Sunday or
other day on which  commercial  banks in The City of New York are  authorized or
required by law to remain closed.

            (c)  "Closing  Bid Price" and "Closing  Sale Price"  means,  for any
security  as of any date,  the last  closing  bid price and last  closing  trade
price,  respectively,  for such security on the Principal Market, as reported by
Bloomberg,  or, if the Principal  Market begins to operate on an extended  hours
basis and does not  designate  the closing bid price or the closing trade price,
as the case may be, then the last bid price or last trade  price,  respectively,
of such security prior to 4:00:00 p.m., New York Time, as reported by Bloomberg,
or, if the Principal Market is not the principal  securities exchange or trading
market  for such  security,  the last  closing  bid price or last  trade  price,
respectively,  of such security on the principal  securities exchange or trading
market where such security is listed or traded as reported by  Bloomberg,  or if
the  foregoing  do not apply,  the last  closing bid price or last trade  price,
respectively,  of such security in the over-the-counter market on the electronic
bulletin board for such security as reported by Bloomberg, or, if no closing bid
price or last trade  price,  respectively,  is  reported  for such  security  by
Bloomberg,  the average of the bid prices, or the ask prices,  respectively,  of
any market  makers for such  security as  reported in the "pink  sheets" by Pink
Sheets LLC (formerly the National  Quotation  Bureau,  Inc.). If the Closing Bid
Price or the  Closing  Sale  Price  cannot be  calculated  for a  security  on a
particular  date on any of the  foregoing  bases,  the  Closing Bid Price or the
Closing Sale Price,  as the case may be, of such  security on such date shall be
the fair market value as mutually  determined by the Company and the Holder.  If
the  Company  and the Holder are unable to agree upon the fair  market  value of
such security,  then such dispute shall be resolved  pursuant to Section 12. All
such determinations to be appropriately  adjusted for any stock dividend,  stock
split,  stock  combination  or other similar  transaction  during the applicable
calculation period.

            (d) "Common  Stock" means (i) the Company's  shares of Common Stock,
$0.01 par value per share,  and (ii) any share  capital  into which such  Common
Stock  shall  have  been  changed  or  any  share  capital   resulting   from  a
reclassification of such Common Stock.

            (e) "Convertible  Securities"  means any stock or securities  (other
than  Options)  directly  or  indirectly  convertible  into  or  exercisable  or
exchangeable for shares of Common Stock.

            (f) "Eligible Market" means the Principal Market, the American Stock
Exchange,  The New York Stock Exchange,  Inc., The Nasdaq SmallCap Market or the
OTC Bulletin Board.

            (g)  "Expiration  Date"  means  the  date  that is the  later of (x)
eighteen  months  after  the  Issuance  Date and (y)  twelve  months  after  the
effective  date of the  Registration  Statement  or, if such date falls on a day
other  than a  Business  Day or on which  trading  does  not  take  place on the
Principal Market (a "Holiday"), the next date that is not a Holiday.

            (h) "Fundamental Transaction" means that the Company shall, directly
or indirectly,  in one or more related  transactions,  (i)  consolidate or merge
with or into (whether or not the Company is the surviving  corporation)  another
Person, or (ii) sell,  assign,  transfer,  convey or otherwise dispose of all or
substantially  all of the properties or assets of the Company to another Person,
or (iii) allow another Person to make a purchase,  tender or exchange offer that
is accepted by the holders of more than the 50% of either the outstanding shares
of Common Stock (not  including any shares of Common Stock held by the Person or
Persons making or party to, or associated or affiliated  with the Persons making
or party to, such  purchase,  tender or exchange  offer),  or (iv)  consummate a
stock  purchase  agreement or other  business  combination  (including,  without
limitation,   a   reorganization,   recapitalization,   spin-off  or  scheme  of
arrangement)  with another Person  whereby such other Person  acquires more than
the 50% of the  outstanding  shares of Common Stock (not including any shares of
Common  Stock held by the other Person or other  Persons  making or party to, or
associated or affiliated  with the other Persons  making or party to, such stock
purchase   agreement  or  other  business   combination),   or  (v)  reorganize,
recapitalize or reclassify its Common Stock.

                                      -12-
<PAGE>

            (i) "Options" means any rights, warrants or options to subscribe for
or purchase shares of Common Stock or Convertible Securities.

            (j) "Parent  Entity" of a Person means an entity  that,  directly or
indirectly,  controls the applicable Person and whose common stock or equivalent
equity security is quoted or listed on an Eligible Market,  or, if there is more
than one such  Person or Parent  Entity,  the Person or Parent  Entity  with the
largest  public  market  capitalization  as of the date of  consummation  of the
Fundamental Transaction.

            (k) "Person" means an individual,  a limited  liability  company,  a
partnership,  a  joint  venture,  a  corporation,  a  trust,  an  unincorporated
organization,  any other entity and a  government  or any  department  or agency
thereof.

            (l) "Principal Market" means the Nasdaq National Market.

            (m) "Registration  Rights Agreement" means that certain registration
rights agreement by and among the Company and the Buyers.

            (n)  "Required  Holders"  means  the  holders  of the  SPA  Warrants
representing  at least a majority of shares of Common Stock  underlying  the SPA
Warrants then outstanding.

            (o)  "SPA  Securities"  means  the  Notes  issued  pursuant  to  the
Securities Purchase Agreement.

            (p) "Successor  Entity" means the Person,  which may be the Company,
formed by, resulting from or surviving any Fundamental Transaction or the Person
with which such Fundamental  Transaction shall have been made,  provided that if
such Person is not a publicly  traded  entity whose  common stock or  equivalent
equity security is quoted or listed for trading on an Eligible Market, Successor
Entity shall mean such Person's Parent Entity.

                                      -13-
<PAGE>

                            [Signature Page Follows]

                                      -14-
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common
Stock to be duly executed as of the Issuance Date set out above.

                                                AROTECH CORPORATION

                                                By:
                                                   -----------------------------
                                                Name:  Robert S. Ehrlich
                                                Title: Chief Executive Officer

<PAGE>

                                                                       EXHIBIT I

                                 EXERCISE NOTICE

            TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS
                        WARRANT TO PURCHASE COMMON STOCK

                               AROTECH CORPORATION

      The   undersigned   holder   hereby   exercises   the  right  to  purchase
_________________  of the shares of Common Stock  ("Warrant  Shares") of Arotech
Corporation,  a Delaware corporation (the "Company"),  evidenced by the attached
Warrant to Purchase Common Stock (the  "Warrant"),  and tenders herewith payment
to  the   Company  of  the   aggregate   exercise   price  in  full,   equal  to
$_____________________, together with all applicable transfer taxes, if any.

      Please issue the Warrant Shares in the following name and to the following
address:

      Issue to:_________________________________________________________________
               _________________________________________________________________

      Facsimile Number:_________________________________________________________

      Authorization:____________________________________________________________

      Account Number:___________________________________________________________
       (if electronic book entry transfer)

      Transaction Code Number:__________________________________________________
       (if electronic book entry transfer)

      To the extent the  foregoing  exercise is for less than the full number of
Warrant  Shares  issuable  pursuant  to  the  Warrant,  a  replacement   Warrant
representing the remainder of the Warrant Shares issuable (and otherwise of like
form, tenor and effect) shall be delivered to holder.

      The undersigned  confirms the continuing  validity of, and reaffirms as of
the date hereof,  the  representations  and warranties set forth in Section 2(b)
through (j) of the  Securities  Purchase  Agreement,  dated as of September  29,
2005, by and among the Company and the Buyers named therein.

      The undersigned agrees to comply with the prospectus delivery requirements
(to the extent  applicable)  under the applicable  securities laws in connection
with any transfer of the aforesaid Warrant Shares.

Date: _________________, ______

-------------------------------
Name of Registered Holder

By:
   ----------------------------
   Name:
   Title:

<PAGE>

                                   EXHIBIT II

                                 EXERCISE NOTICE

       TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT TO
                   PURCHASE COMMON STOCK PURSUANT TO CASHLESS
                               EXERCISE PROVISIONS

                               AROTECH CORPORATION

Gentlemen:

      The undersigned, registered holder of the Warrant to Purchase Common Stock
delivered herewith, hereby irrevocably exercises such Warrant for, and purchases
thereunder,   shares  of  the  Common  Stock   ("Warrant   Shares")  of  Arotech
Corporation,  a Delaware corporation,  as provided below. Capitalized terms used
herein,  unless otherwise  defined herein,  shall have the meanings given in the
Warrant.  The portion of the Exercise Price to be applied toward the purchase of
the Warrant Shares pursuant to this Exercise  Notice is $_______.  Such exercise
shall be pursuant to the  cashless  exercise  provisions  of Section 1(d) of the
Warrant;  therefore,  holder  makes no payment  with  respect  to this  Exercise
Notice.  The number of shares to be issued  pursuant to this  exercise  shall be
determined by reference to the formula in Section 1(d) of the Warrant which,  by
reference  to  Section  1(d),  requires  the  use of the  Closing  Price  of the
Company's  Common  Stock  on the  day  immediately  preceding  the  date of this
Exercise Notice, which is $______.

      Please issue the Warrant Shares in the following name and to the following
address:

      Issue to:_________________________________________________________________
               _________________________________________________________________

      Facsimile Number:_________________________________________________________

      Authorization:____________________________________________________________

      Account Number:___________________________________________________________
       (if electronic book entry transfer)

      Transaction Code Number:__________________________________________________
       (if electronic book entry transfer)

      To the extent the  foregoing  exercise is for less than the full number of
Warrant  Shares  issuable  pursuant  to  the  Warrant,  a  replacement   Warrant
representing the remainder of the Warrant Shares issuable (and otherwise of like
form, tenor and effect) shall be delivered to holder.

<PAGE>

      The undersigned  confirms the continuing  validity of, and reaffirms as of
the date hereof,  the  representations  and warranties set forth in Section 2(b)
through (j) of the  Securities  Purchase  Agreement,  dated as of September  29,
2005, by and among the Company and the Buyers named therein.

      The undersigned agrees to comply with the prospectus delivery requirements
(to the extent  applicable)  under the applicable  securities laws in connection
with any transfer of the aforesaid Warrant Shares.

Date: _________________, ______

-------------------------------
Name of Registered Holder

By:
   ----------------------------
   Name:
   Title:

<PAGE>

                                 ACKNOWLEDGMENT

      The Company hereby  acknowledges  this Exercise  Notice and hereby directs
American  Stock  Transfer  & Trust Co. to issue  the above  indicated  number of
shares of Common Stock in accordance with the Transfer Agent  Instructions dated
September 29, 2005 from the Company and  acknowledged  and agreed to by American
Stock Transfer & Trust Co.

                                                AROTECH CORPORATION

                                                By:
                                                   -----------------------------
                                                Name:
                                                Title:

<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 Arotech Corporation
to which the within Warrant  relates and appoints  ________________  attorney to
transfer  said  right on the books of  Arotech  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:

      ___________________Exhibit 4.4
                                                                     -----------

                                                               EXECUTION VERSION
                                    GUARANTY

      GUARANTY,  dated as of September 29, 2005 made by the undersigned  (each a
"Guarantor"  and,  collectively,  the  "Guarantors"),  in  favor  of  Smithfield
Fiduciary LLC, a Cayman Islands limited  liability  company,  in its capacity as
collateral  agent (in such capacity,  the  "Collateral  Agent") on behalf of the
"Buyers" (as defined below) party to the Securities Purchase Agreement, dated as
of even date herewith (as amended,  restated or otherwise  modified from time to
time, the "Purchase Agreement").

                              W I T N E S S E T H :

      WHEREAS, Arotech Corporation,  a Delaware corporation (f/k/a Electric Fuel
Corporation)  (the  "Parent") and each party listed as a "Buyer" on the Schedule
of Buyers attached thereto are parties to the Purchase Agreement;

      WHEREAS,  the Parent and the Guarantors have each executed and delivered a
Security  Agreement  dated as of even date herewith,  in favor of the Collateral
Agent (as  amended,  restated  or  otherwise  modified  from  time to time,  the
"Security Agreement");

      WHEREAS,  it is a condition  precedent to the Buyers' obligation under the
Purchase  Agreement  that each  Guarantor  execute and deliver to the Collateral
Agent a guaranty  guaranteeing all of the obligations of the Parent  thereunder;
and

      WHEREAS,  each Guarantor has determined  that its execution,  delivery and
performance  of this  Guaranty  directly  benefit,  and are within the corporate
purposes and in the best interests of, such Guarantor;

      NOW, THEREFORE, in consideration of the premises and the agreements herein
and in order to induce the Buyers to perform under the Purchase Agreement,  each
Guarantor hereby agrees with the Collateral Agent as follows:

      SECTION 1. Definitions. Reference is hereby made to the Purchase Agreement
and the  "Securities"  (as defined  therein)  issued  pursuant  thereto (as such
Securities may be amended, restated, replaced or otherwise modified from time to
time in accordance with the terms thereof, collectively, the "Securities") for a
statement  of the terms  thereof.  All terms  used in this  Guaranty,  which are
defined in the Security Agreement,  the Purchase Agreement or the Securities and
not otherwise  defined herein,  shall have the same meanings herein as set forth
therein.

      SECTION  2.  Guaranty.   Each   Guarantor   hereby   unconditionally   and
irrevocably, jointly and severally, guarantees the punctual payment, as and when
due and payable,  by stated  maturity or otherwise,  of all  Obligations  of the
Parent from time to time owing by it in respect of the Purchase  Agreement,  the
Securities  and the other  "Transaction  Documents"  (as defined in the Purchase
Agreement),  including,  without limitation, all interest that accrues after the
commencement  of any  Insolvency  Proceeding  of the  Parent  or any  Guarantor,
whether or not the payment of such interest is unenforceable or is not allowable
due to the existence of such Insolvency Proceeding),  and all fees, commissions,
expense reimbursements,  indemnifications and all other amounts due or to become
due under any of the Transaction Documents (such obligations,  to the extent not
paid by the Parent, being the "Guaranteed  Obligations"),  and agrees to pay any
and all expenses  (including  reasonable  counsel fees and expenses)  reasonably
incurred by the  Collateral  Agent and the Buyers in enforcing  any rights under
this  Guaranty.   Without  limiting  the  generality  of  the  foregoing,   each
Guarantor's liability hereunder shall extend to all amounts that constitute part
of the Guaranteed  Obligations and would be owed by the Parent to the Collateral
Agent and the Buyers under the Purchase Agreement and the Securities but for the
fact that they are  unenforceable  or not  allowable  due to the existence of an
Insolvency   Proceeding   involving  any  Guarantor  or  the  Parent  (each,   a
"Transaction Party").

<PAGE>

      SECTION 3. Guaranty Absolute; Continuing Guaranty; Assignments.

      (a) Each Guarantor, jointly and severally,  guarantees that the Guaranteed
Obligations  will  be  paid  strictly  in  accordance  with  the  terms  of  the
Transaction  Documents,  regardless  of any  law,  regulation  or  order  now or
hereafter  in  effect in any  jurisdiction  affecting  any of such  terms or the
rights  of the  Collateral  Agent  or  the  Buyers  with  respect  thereto.  The
obligations  of each  Guarantor  under  this  Guaranty  are  independent  of the
Guaranteed  Obligations,  and a separate  action or actions  may be brought  and
prosecuted  against any Guarantor to enforce such  obligations,  irrespective of
whether  any action is brought  against  any  Transaction  Party or whether  any
Transaction Party is joined in any such action or actions. The liability of each
Guarantor under this Guaranty shall be irrevocable,  absolute and  unconditional
irrespective  of, and each Guarantor hereby  irrevocably  waives any defenses it
may now or hereafter have in any way relating to, any or all of the following:

            (i) any  lack  of  validity  or  enforceability  of any  Transaction
Document or any agreement or instrument relating thereto;

            (ii) any change in the time,  manner or place of  payment  of, or in
any  other  term of,  all or any of the  Guaranteed  Obligations,  or any  other
amendment  or  waiver  of or any  consent  to  departure  from  any  Transaction
Document,   including,  without  limitation,  any  increase  in  the  Guaranteed
Obligations resulting from the extension of additional credit to any Transaction
Party or otherwise;

            (iii)  any  taking,  exchange,  release  or  non-perfection  of  any
Collateral,  or any  taking,  release  or  amendment  or waiver of or consent to
departure from any other guaranty, for all or any of the Guaranteed Obligations;

            (iv) any change,  restructuring  or  termination  of the  corporate,
limited  liability  company  or  partnership   structure  or  existence  of  any
Transaction Party; or

            (v) any other circumstance (including any statute of limitations) or
any existence of or reliance on any  representation  by the Collateral  Agent or
the  Buyers  that  might  otherwise  constitute  a  defense  available  to, or a
discharge of, any Transaction Party or any other guarantor or surety.

                                      -2-
<PAGE>

This Guaranty shall  continue to be effective or be reinstated,  as the case may
be, if at any time any payment of any of the Guaranteed Obligations is rescinded
or must otherwise be returned by the Collateral  Agent,  the Buyers or any other
Person upon the  insolvency,  bankruptcy or  reorganization  of any  Transaction
Party or otherwise, all as though such payment had not been made.

      (b) This  Guaranty is a  continuing  guaranty and shall (i) remain in full
force and effect until the  indefeasible  cash payment in full of the Guaranteed
Obligations  and all other  amounts  payable  under this  Guaranty and shall not
terminate  for any reason  prior to the  Maturity  Date and (ii) be binding upon
each  Guarantor and its respective  successors and assigns.  This Guaranty shall
inure to the benefit of and be enforceable by the Collateral  Agent,  the Buyers
and their successors,  pledgees,  transferees and assigns.  Without limiting the
generality of the foregoing sentence,  any Buyer may pledge, assign or otherwise
transfer all or any portion of its rights and obligations  under any Transaction
Document to any other  Person,  and such other  Person  shall  thereupon  become
vested with all the benefits in respect  thereof granted to such Buyer herein or
otherwise, in each case as provided in the Purchase Agreement.

      SECTION 4. Waivers.  Each Guarantor hereby waives  promptness,  diligence,
notice of acceptance  and any other notice with respect to any of the Guaranteed
Obligations and this Guaranty and any requirement  that the Collateral  Agent or
the Buyers exhaust any right or take any action against any Transaction Party or
any other Person or any  Collateral.  Each Guarantor  acknowledges  that it will
receive   direct  and  indirect   benefits  from  the   financing   arrangements
contemplated herein and that the waiver set forth in this Section 4 is knowingly
made in contemplation  of such benefits.  Each Guarantor hereby waives any right
to revoke this Guaranty,  and  acknowledges  that this Guaranty is continuing in
nature and applies to all Guaranteed Obligations, whether existing now or in the
future.

      SECTION 5.  Subrogation.  No Guarantor may exercise any rights that it may
now or hereafter  acquire against any  Transaction  Party or any other guarantor
that arise from the  existence,  payment,  performance  or  enforcement  of such
Guarantor's obligations under this Guaranty,  including, without limitation, any
right   of   subrogation,    reimbursement,    exoneration,    contribution   or
indemnification  and any  right to  participate  in any  claim or  remedy of the
Collateral  Agent and the  Buyers  against  any  Transaction  Party or any other
guarantor or any Collateral,  whether or not such claim,  remedy or right arises
in  equity  or  under  contract,  statute  or  common  law,  including,  without
limitation, the right to take or receive from any Transaction Party or any other
guarantor, directly or indirectly, in cash or other property or by set-off or in
any other manner, payment or security solely on account of such claim, remedy or
right, unless and until all of the Guaranteed  Obligations and all other amounts
payable under this Guaranty shall have  indefeasibly  been paid in full in cash.
If any amount shall be paid to any  Guarantor  in  violation of the  immediately
preceding sentence at any time prior to the later of the payment in full in cash
of the Guaranteed Obligations and all other amounts payable under this Guaranty,
such amount shall be held in trust for the benefit of the  Collateral  Agent and
the Buyers and shall forthwith be paid to the Collateral Agent and the Buyers to
be credited  and applied to the  Guaranteed  Obligations  and all other  amounts
payable under this Guaranty,  whether  matured or unmatured,  in accordance with
the  terms of the  Transaction  Document,  or to be held as  Collateral  for any
Guaranteed  Obligations or other amounts payable under this Guaranty  thereafter
arising. If (a) any Guarantor shall make payment to the Collateral Agent and the
Buyers  of all or any  part of the  Guaranteed  Obligations,  and (b) all of the
Guaranteed  Obligations  and all other amounts payable under this Guaranty shall
indefeasibly be paid in full in cash, the Collateral  Agent and the Buyers will,
at such Guarantor's  request and expense,  execute and deliver to such Guarantor
appropriate documents,  without recourse and without representation or warranty,
necessary  to evidence  the  transfer by  subrogation  to such  Guarantor  of an
interest  in the  Guaranteed  Obligations  resulting  from such  payment by such
Guarantor.

                                      -3-
<PAGE>

      SECTION 6.  Representations,  Warranties  and  Covenants.  Each  Guarantor
hereby represents and warrants as follows:

      (a) Such Guarantor (i) is a corporation,  duly organized, validly existing
and in good standing under the laws of the  jurisdiction of its  organization as
set forth on the first page hereof,  (ii) has all requisite  power and authority
to conduct its business as now  conducted and as presently  contemplated  and to
execute and deliver this Guaranty and each other  Transaction  Document to which
such  Guarantor is a party,  and to  consummate  the  transactions  contemplated
hereby and thereby  and (iii) is duly  qualified  to do business  and is in good
standing in each  jurisdiction in which the character of the properties owned or
leased  by  it  or  in  which  the   transaction  of  its  business  makes  such
qualification necessary.

      (b) The  execution,  delivery and  performance  by such  Guarantor of this
Guaranty and each other Transaction  Document to which such Guarantor is a party
(i) have been duly authorized by all necessary action,  (ii) do not and will not
contravene its charter or by-laws,  its limited  liability  company or operating
agreement  or its  certificate  of  partnership  or  partnership  agreement,  as
applicable,  or any applicable law or any contractual  restriction binding on or
otherwise  affecting such Guarantor or its properties,  except where consent has
been  obtained,  (iii) do not and will not result in or require the  creation of
any lien (other than pursuant to any Transaction  Document) upon or with respect
to any of its  properties,  and (iv) do not and will not result in any  default,
noncompliance,  suspension,  revocation, impairment, forfeiture or nonrenewal of
any  permit,  license,  authorization  or  approval  applicable  to  it  or  its
operations or any of its properties.

      (c) No  authorization  or approval or other action by, and no notice to or
filing with, any  governmental  authority is required in connection with the due
execution, delivery and performance by such Guarantor of this Guaranty or any of
the other Transaction  Documents to which such Guarantor is a party,  except for
the  filing  of  any   financing   statements   on  Form  UCC-1  or  such  other
registrations,  filings or  recordings  as may be  necessary to perfect the lien
purported to be created by any Transaction  Documents to which such Guarantor is
a party.

      (d) Each of this  Guaranty  and the other  Transaction  Documents to which
such Guarantor is or will be a party,  when delivered,  will be, a legal,  valid
and binding obligation of such Guarantor,  enforceable against such Guarantor in
accordance  with its terms,  except as may be limited by applicable  bankruptcy,
insolvency, reorganization, moratorium, suretyship or other similar laws.

      (e) There is no  pending  or,  to the best  knowledge  of such  Guarantor,
threatened action,  suit or proceeding  affecting such Guarantor or to which any
of the  properties  of such  Guarantor  is  subject,  before  any court or other
governmental authority or any arbitrator that (i) if adversely determined, could
have a Material  Adverse  Effect or (ii) relates to this  Guaranty or any of the
other  Transaction  Documents  to  which  such  Guarantor  is  a  party  or  any
transaction contemplated hereby or thereby.

                                      -4-
<PAGE>

      (f) Such Guarantor (i) has read and  understands  the terms and conditions
of the Purchase Agreement and the other Transaction Documents,  and (ii) now has
and will continue to have independent means of obtaining information  concerning
the  affairs,  financial  condition  and  business  of the  Parent and the other
Transaction  Parties, and has no need of, or right to obtain from the Collateral
Agent or any Buyer,  any credit or other  information  concerning  the  affairs,
financial  condition or business of the Parent or the other Transaction  Parties
that may come under the control of the Collateral Agent or any Buyer.

      (g) Such Guarantor  covenants and agrees that until  indefeasible full and
final  payment of the  Guaranteed  Obligations,  it will comply with each of the
covenants  (except to the extent  applicable only to a public company) which are
set forth in Section 4 of the  Purchase  Agreement as if such  Guarantor  were a
party thereto.

      SECTION  7.  Right  of  Set-off.   Upon  the  occurrence  and  during  the
continuance of any Event of Default,  the Collateral Agent or any Buyer may, and
is hereby  authorized  to, at any time and from time to time,  without notice to
any Guarantor (any such notice being expressly  waived by each Guarantor) and to
the fullest  extent  permitted  by law,  set-off and apply any and all  deposits
(general or special, time or demand,  provisional or final) at any time held and
other  indebtedness at any time owing by the Collateral Agent or any Buyer to or
for the credit or the account of any Guarantor  against any and all  obligations
of any  Guarantor  now or hereafter  existing  under this  Guaranty or any other
Transaction Document, irrespective of whether or not any Collateral Agent or any
Buyer shall have made any demand  under this  Guaranty or any other  Transaction
Document and although such  obligations  may be  contingent  or  unmatured.  The
Collateral Agent and each Buyer agrees to notify the relevant Guarantor promptly
after any such  set-off and  application  made by the  Collateral  Agent or such
Buyer,  provided  that the  failure  to give such  notice  shall not  affect the
validity of such set-off and application. The rights of the Collateral Agent and
the Buyers  under this  Section 7 are in addition to other  rights and  remedies
(including,  without  limitation,  other rights of set-off) which the Collateral
Agent and the  Buyers  may have under  this  Guaranty  or any other  Transaction
Document in law or otherwise.

      SECTION 8. Notices, Etc. All notices and other communications provided for
hereunder shall be in writing and shall be mailed,  telecopied or delivered,  if
to any  Guarantor,  to it at its address set forth on the signature page hereto,
or if to the  Collateral  Agent,  to it at its address set forth in the Purchase
Agreement;  or as to  either  such  Person  at such  other  address  as shall be
designated by such Person in a written notice to such other Person  complying as
to  delivery  with the  terms of this  Section  8. All such  notices  and  other
communications  shall be effective  (i) if mailed (by  certified  mail,  postage
prepaid and return  receipt  requested),  when  received or three  Business Days
after deposited in the mails,  whichever occurs first; (ii) if telecopied,  when
transmitted  and  confirmation  is received,  provided same is on a Business Day
and, if not, on the next  Business Day; or (iii) if  delivered,  upon  delivery,
provided same is on a Business Day and, if not, on the next Business Day.

                                      -5-
<PAGE>

      SECTION 9.  CONSENT TO  JURISDICTION;  SERVICE OF PROCESS  AND VENUE.  ANY
LEGAL  ACTION  OR  PROCEEDING  WITH  RESPECT  TO  THIS  GUARANTY  OR  ANY  OTHER
TRANSACTION  DOCUMENT  MAY BE  BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN
THE COUNTY OF NEW YORK OR OF THE UNITED STATES  DISTRICT  COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK,  AND, BY EXECUTION  AND DELIVERY OF THIS  AGREEMENT,  EACH
GUARANTOR HEREBY IRREVOCABLY  ACCEPTS IN RESPECT OF ITS PROPERTY,  GENERALLY AND
UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH GUARANTOR HEREBY
IRREVOCABLY  APPOINTS  THE  SECRETARY  OF STATE OF THE  STATE OF NEW YORK AS ITS
AGENT FOR  SERVICE OF PROCESS IN RESPECT OF ANY SUCH  ACTION OR  PROCEEDING  AND
FURTHER  IRREVOCABLY  CONSENTS  TO  THE  SERVICE  OF  PROCESS  OUT OF ANY OF THE
AFOREMENTIONED  COURTS AND IN ANY SUCH  ACTION OR  PROCEEDING  BY THE MAILING OF
COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID,  AT ITS ADDRESS
FOR NOTICES AS SET FORTH ON THE  SIGNATURE  PAGE HERETO AND TO THE  SECRETARY OF
STATE OF THE STATE OF NEW YORK,  SUCH SERVICE TO BECOME  EFFECTIVE TEN (10) DAYS
AFTER SUCH  MAILING.  NOTHING  HEREIN SHALL  AFFECT THE RIGHT OF THE  COLLATERAL
AGENT AND THE BUYERS TO SERVICE OF PROCESS IN ANY OTHER MANNER  PERMITTED BY LAW
OR TO COMMENCE LEGAL  PROCEEDINGS OR OTHERWISE  PROCEED AGAINST ANY GUARANTOR IN
ANY OTHER JURISDICTION.  EACH GUARANTOR HEREBY EXPRESSLY AND IRREVOCABLY WAIVES,
TO THE  FULLEST  EXTENT  PERMITTED  BY LAW,  ANY  OBJECTION  WHICH IT MAY NOW OR
HEREAFTER  HAVE TO THE  JURISDICTION  OR LAYING OF VENUE OF ANY SUCH  LITIGATION
BROUGHT  IN ANY  SUCH  COURT  REFERRED  TO  ABOVE  AND ANY  CLAIM  THAT ANY SUCH
LITIGATION  HAS BEEN BROUGHT IN AN  INCONVENIENT  FORUM.  TO THE EXTENT THAT ANY
GUARANTOR  HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY  FROM  JURISDICTION  OF ANY
COURT OR FROM ANY LEGAL PROCESS (WHETHER  THROUGH SERVICE OR NOTICE,  ATTACHMENT
PRIOR TO JUDGMENT,  ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO
ITSELF OR ITS PROPERTY,  EACH GUARANTOR HEREBY  IRREVOCABLY WAIVES SUCH IMMUNITY
IN RESPECT OF ITS  OBLIGATIONS  UNDER THIS  GUARANTY  AND THE OTHER  TRANSACTION
DOCUMENTS.

      SECTION 10. WAIVER OF JURY TRIAL,  ETC. EACH  GUARANTOR  HEREBY WAIVES ANY
RIGHT TO A TRIAL BY JURY IN ANY ACTION,  PROCEEDING OR  COUNTERCLAIM  CONCERNING
ANY RIGHTS UNDER THIS GUARANTY OR THE OTHER TRANSACTION DOCUMENTS,  OR UNDER ANY
AMENDMENT, WAIVER, CONSENT, INSTRUMENT, DOCUMENT OR OTHER AGREEMENT DELIVERED OR
WHICH IN THE FUTURE MAY BE DELIVERED IN  CONNECTION  HEREWITH OR  THEREWITH,  OR
ARISING  FROM ANY  FINANCING  RELATIONSHIP  EXISTING  IN  CONNECTION  WITH  THIS
GUARANTY OR THE OTHER  TRANSACTION  DOCUMENTS,  AND AGREES THAT ANY SUCH ACTION,
PROCEEDING OR COUNTERCLAIM  SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.
EACH GUARANTOR CERTIFIES THAT NO OFFICER,  REPRESENTATIVE,  AGENT OR ATTORNEY OF
THE COLLATERAL AGENT OR ANY BUYER HAS REPRESENTED,  EXPRESSLY OR OTHERWISE, THAT
THE  COLLATERAL  AGENT OR ANY  BUYER  WOULD  NOT,  IN THE  EVENT OF ANY  ACTION,
PROCEEDING  OR  COUNTERCLAIM,  SEEK  TO  ENFORCE  THE  FOREGOING  WAIVERS.  EACH
GUARANTOR HEREBY  ACKNOWLEDGES THAT THIS PROVISION IS A MATERIAL  INDUCEMENT FOR
THE COLLATERAL AGENT AND THE BUYERS ENTERING INTO THIS AGREEMENT.

                                      -6-
<PAGE>

      SECTION 11. Taxes.

      (a) All  payments  made by any  Guarantor  hereunder  or under  any  other
Transaction  Document shall be made in accordance with the terms of the Purchase
Agreement and shall be made without  set-off,  counterclaim,  deduction or other
defense. All such payments shall be made free and clear of and without deduction
for any and all present or future taxes, levies, imposts, deductions, charges or
withholdings,  and all liabilities with respect thereto, excluding taxes imposed
on net income or franchise taxes of the Buyers by the jurisdiction in which such
person is organized or has its principal  office (all such  non-excluded  taxes,
levies, imposts, deductions, charges withholdings and liabilities,  collectively
or  individually,  "Taxes").  If any  Guarantor  shall be required to deduct any
Taxes from or in respect of any sum payable  hereunder  to a Buyer,  (i) the sum
payable shall be increased by the amount (an "additional  amount")  necessary so
that after  making all  required  deductions  the Buyer shall  receive an amount
equal to the sum it would have received had no such  deductions  been made, (ii)
such Guarantor shall make such deductions and (iii) such Guarantor shall pay the
full amount deducted to the relevant  governmental  authority in accordance with
applicable law.

      (b) In addition,  the Guarantor agrees to pay to the relevant governmental
authority  in  accordance  with  applicable  law any present or future  stamp or
documentary  taxes or any other  excise or  property  taxes,  charges or similar
levies  that  arise  from any  payment  made  hereunder  or from the  execution,
delivery or registration of, or otherwise with respect to, this Guaranty ("Other
Taxes").  Each Guarantor shall deliver to each Buyer official receipts,  if any,
in respect of any Taxes or Other Taxes payable hereunder  promptly after payment
of such Taxes or Other Taxes or other evidence of payment reasonably  acceptable
to the Buyer.

      (c) The  obligations of the Guarantor  under this Section 11 shall survive
the  termination  of this  Guaranty and the payment of the  Obligations  and all
other amounts payable hereunder.

      SECTION 12. Miscellaneous.

      (a) Each Guarantor will make each payment hereunder in lawful money of the
United States of America and in  immediately  available  funds to the Collateral
Agent,  for  the  benefit  of the  Buyers,  at  such  address  specified  by the
Collateral Agent from time to time by notice to such Guarantor.

      (b) No  amendment  or  waiver of any  provision  of this  Guaranty  and no
consent  to any  departure  by any  Guarantor  therefrom  shall in any  event be
effective  unless the same shall be in writing and signed by such  Guarantor and
the Collateral Agent, and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given.

                                      -7-
<PAGE>

      (c) No  failure  on the  part of the  Collateral  Agent  or any  Buyer  to
exercise,  and no delay in  exercising,  any right  hereunder or under any other
Transaction  Document shall operate as a waiver thereof, nor shall any single or
partial  exercise  of any  right  hereunder  or under any  Transaction  Document
preclude  any other or further  exercise  thereof or the  exercise  of any other
right.  The rights and remedies of the Collateral  Agent and the Buyers provided
herein and in the other Transaction Documents are cumulative and are in addition
to, and not exclusive of, any rights or remedies  provided by law. The rights of
the Collateral  Agent and the Buyers under any Transaction  Document against any
party thereto are not conditional or contingent on any attempt by the Collateral
Agent and the Buyers to exercise any of their rights under any other Transaction
Document against such party or against any other Person.

      (d) Any provision of this Guaranty that is prohibited or  unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining portions
hereof or thereof or affecting the validity or  enforceability of such provision
in any other jurisdiction.

      (e)  This  Guaranty  shall  (i) be  binding  on  each  Guarantor  and  its
respective  successors and assigns, and (ii) inure, together with all rights and
remedies of the Collateral Agent and the Buyers hereunder, to the benefit of the
Collateral Agent and the Buyers and their respective successors, transferees and
assigns.  Without  limiting  the  generality  of clause (ii) of the  immediately
preceding  sentence,  any Buyer may assign or otherwise  transfer its rights and
obligations under the Purchase  Agreement or any other  Transaction  Document to
any other Person,  and such other Person shall thereupon  become vested with all
of the benefits in respect  thereof  granted to the Buyers  herein or otherwise.
Each Guarantor agrees that each participant shall be entitled to the benefits of
Section 11 with respect to its participation in any portion of the Securities as
if it was a Buyer. None of the rights or obligations of any Guarantor  hereunder
may be assigned or otherwise  transferred  without the prior written  consent of
the Collateral Agent.

      (f) This Guaranty and the other Transaction Documents represent the entire
agreement of each Guarantor, the Collateral Agent and the Buyers with respect to
the  subject   matter   hereof,   and  there  are  no  promises,   undertakings,
representations  or warranties by the Collateral  Agent or any Buyer relative to
the subject  matter  thereof not expressly set forth or referred to herein or in
the other Transaction Documents.

      (g) Section headings herein are included for convenience of reference only
and shall not constitute a part of this Agreement for any other purpose.

      (H) THIS GUARANTY AND THE OTHER  TRANSACTION  DOCUMENTS  (UNLESS EXPRESSLY
PROVIDED TO THE CONTRARY IN ANOTHER  TRANSACTION  DOCUMENT) SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE  WITH THE LAW OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS  MADE AND TO BE PERFORMED  THEREIN  WITHOUT  REGARD TO CONFLICT OF LAW
PRINCIPLES.

                                      -8-
<PAGE>

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                      -9-
<PAGE>

      IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be executed
by an officer thereunto duly authorized, as of the date first above written.

                                     IES INTERACTIVE TRAINING, INC.

                                     By:
                                       -----------------------------------------
                                     Name:
                                     Title:
                                     Address:    [_____________________________]
                                                 [_____________________________]

                                     ARMOUR OF AMERICA, INCORPORATED

                                     By:
                                       -----------------------------------------
                                     Name:
                                     Title:
                                     Address:    [_____________________________]
                                                 [_____________________________]

<PAGE>

                                     ELECTRIC FUEL BATTERY CORPORATION

                                     By:
                                       -----------------------------------------
                                     Name:
                                     Title:
                                     Address:    [_____________________________]
                                                 [_____________________________]

                                     FAAC INCORPORATED

                                     By:
                                       -----------------------------------------
                                     Name:
                                     Title:
                                     Address:    [_____________________________]
                                                 [_____________________________]

                                     MDT ARMOR CORPORATION

                                     By:
                                       -----------------------------------------
                                     Name:
                                     Title:
                                     Address:    [_____________________________]
                                                 [_____________________________]

                                      -2-

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