Document:

EXHIBIT 10.2

                              EMPLOYMENT AGREEMENT

         This AGREEMENT (the "Agreement") is made as of the date signed (the
"Effective Date"), by and between PWI Technologies, Inc., a Washington
corporation ("Employer") with its headquarters located in Boulder, Colorado (the
"Employer"), and Barry R. Andersen (the "Executive"). In consideration of the
mutual covenants contained in this Agreement, the Employer and the Executive
agree as follows:

         1. EMPLOYMENT. The Employer agrees to employ the Executive and the
Executive agrees to be employed by the Employer on the terms and conditions set
forth in this Agreement.

         2. CAPACITY; LOCATION. The Executive shall serve the Employer as
President. In his capacity as President, Executive will report to Thomas P.
Sweeney III, Chief Executive Officer (the "CEO") of Incentra Solutions, Inc., a
Nevada corporation and parent of Employer ("Parent"), and shall be responsible
for strategic and operational matters relating to the Employer's general
business subject to the direction of the CEO. In such capacity, the Executive
shall perform such services and duties in connection with the business, affairs
and operations of the Employer as may be assigned or delegated to the Executive
from time to time by or under the authority of the CEO. Executive's employment
with Employer will be based in Employer's San Diego, California offices;
PROVIDED, that Employee may be required from time to time to travel in
connection with Employer's business needs.

         3. TERM. Executive shall be considered an at-will employee of Employer,
and the employment relationship described herein may be terminated by either
Executive or Employer at any time.

         4. COMPENSATION AND BENEFITS. The regular compensation and benefits
payable to the Executive under this Agreement shall be as follows:

                  (a) SALARY. For all services rendered by the Executive under
         this Agreement, the Employer shall pay the Executive a salary (the
         "Salary") at the annual rate of Two Hundred Eleven Thousand Five
         Hundred Dollars ($211,500.00), subject to increase from time to time in
         the discretion of the Employer. The Salary shall be payable in periodic
         installments in accordance with the Employer's usual practice for its
         senior executives.

                  (b) REGULAR BENEFITS. The Executive shall be entitled to
         health insurance benefits from Employer, and shall also be entitled to
         participate in any employee benefit plans, life insurance plans,
         disability income plans, retirement plans, expense reimbursement plans
         and other benefit plans which the Employer

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         may from time to time have in effect for all or most of its executive
         management employees. Such participation shall be subject to the terms
         of the applicable plan documents, generally applicable policies of the
         Employer, applicable law and the discretion of the Employer or any
         administrative or other committee provided for in or contemplated by
         any such plan. Except with respect to the aforementioned health
         insurance benefits, nothing contained in this Agreement shall be
         construed to create any obligation on the part of the Employer to
         establish any such plan or to maintain the effectiveness of any such
         plan which may be in effect from time to time.

                  (c) VACATION. The Executive shall be entitled to vacation
         according to Employer's vacation policy, such vacation time to accrue
         on a per-pay-period basis.

                  (d) TAXATION OF PAYMENTS AND BENEFITS. The Employer shall
         undertake to make deductions, withholdings and tax reports with respect
         to payments and benefits under this Agreement to the extent that it
         reasonably and in good faith believes that it is required to make such
         deductions, withholdings and tax reports. Payments under this Agreement
         shall be in amounts net of any such deductions or withholdings. Nothing
         in this Agreement shall be construed to require the Employer to make
         any payments to compensate the Executive for any adverse tax effect
         associated with any payments or benefits or for any deduction or
         withholding from any payment or benefit.

                  (e) EXPENSES. The Employer shall reimburse the Executive for
         all reasonable and necessary business related travel expenses incurred
         or paid by the Executive in performing his duties under this Agreement
         and which are consistent with applicable policies of the Employer. All
         payments for reimbursement of such expenses shall be made upon
         presentation by the Executive of expense statements or vouchers and
         such other supporting information as the Employer may from time to time
         reasonably request.

                  (f) EXCLUSIVITY OF SALARY AND BENEFITS. The Executive shall
         not be entitled to any payments or benefits other than those provided
         under this Agreement.

         5. EXTENT OF SERVICE. During the Executive's employment under this
Agreement, the Executive shall devote the Executive's full business time, best
efforts and business judgment, skill and knowledge to the advancement of the
Employer's interests and to the discharge of the Executive's duties and
responsibilities under this Agreement. The Executive shall not engage in any
other business activity, except as may be approved by the Employer; PROVIDED,
that nothing in this Agreement shall be construed as preventing the Executive
from:

                  (a) investing the Executive's assets in any Employer or other
         entity in a manner not prohibited by Section 7(d) and in such form or
         manner as shall not

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         require any material activities on the Executive's part in connection
         with the operations or affairs of the companies or other entities in
         which such investments are made; and

                  (b) engaging in religious, charitable or other community or
         non-profit activities that do not impair the Executive's ability to
         fulfill the Executive's duties and responsibilities under this
         Agreement.

         6. TERMINATION. The Executive's employment under this Agreement shall
terminate under the following circumstances set forth in this Section 6.

                  (a) TERMINATION BY THE EMPLOYER FOR CAUSE. The Executive's
         employment under this Agreement may be terminated for "Cause" without
         further liability on the part of the Employer, effective immediately
         upon a vote of the managers of the Employer and written notice to the
         Executive. Only the following shall constitute "Cause" for such
         termination:

                           (i) dishonest or fraudulent statements or acts of the
                  Executive with respect to the Employer or any affiliate of the
                  Employer;

                           (ii) the Executive's conviction of, or entry of a
                  plea of guilty or nolo contendere for, (A) a felony or (B) any
                  misdemeanor (excluding minor traffic violations) involving
                  moral turpitude, deceit, dishonesty or fraud;

                            (iii) gross negligence, willful misconduct or
                  insubordination of the Executive with respect to the Employer
                  or any affiliate of the Employer; or

                           (iv) material breach by the Executive of any of the
                  Executive's obligations under this Agreement, or any other
                  agreement to which Executive and Employer are now or hereafter
                  a party to.

                   (b) TERMINATION BY THE EXECUTIVE. The Executive's employment
         under this Agreement may be terminated by the Executive by written
         notice to Employer at least thirty (30) days prior to such termination.

                  (c) TERMINATION BY THE EMPLOYER WITHOUT CAUSE. The Executive's
         employment under this Agreement may be terminated by the Employer
         without Cause upon written notice to the Executive (a termination
         "Without Cause").

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                  (d) DISABILITY. If the Executive shall be disabled so as to be
         unable to perform the essential functions of the Executive's then
         existing position or positions under this Agreement with reasonable
         accommodation, the Employer may remove the Executive from any
         responsibilities and/or reassign the Executive to another position with
         the Employer during the period of such disability. Notwithstanding any
         such removal or reassignment, the Executive shall continue to receive
         the Executive's full Salary (less any disability pay or sick pay
         benefits to which the Executive may be entitled under the Employer's
         policies) and benefits under Section 4 of this Agreement (except to the
         extent that the Executive may be ineligible for one or more such
         benefits under applicable plan terms) for a period of time equal to
         nine (9) months. If any question shall arise as to whether during any
         period the Executive is disabled so as to be unable to perform the
         essential functions of the Executive's then existing position or
         positions with reasonable accommodation, the Executive may, and at the
         request of the Employer shall, submit to the Employer a certification
         in reasonable detail by a physician selected by the Employer to whom
         the Executive or the Executive's guardian has no reasonable objection
         as to whether the Executive is so disabled or how long such disability
         is expected to continue, and such certification shall for the purposes
         of this Agreement be conclusive of the issue. The Executive

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         shall cooperate with any reasonable request of the physician in
         connection with such certification. If such question shall arise and
         the Executive shall fail to submit such certification, the Employer's
         determination of such issue shall be binding on the Executive. Nothing
         in this Section 6(e) shall be construed to waive the Executive's
         rights, if any, under existing law including, without limitation, the
         Family and Medical Leave Act of 1993, 29 U.S.C. ss.2601 ET SEQ. and the
         Americans with Disabilities Act, 42 U.S.C. ss.12101 ET SEQ.

         7. CONFIDENTIAL INFORMATION, NONCOMPETITION AND COOPERATION.

                  (a) CONFIDENTIAL INFORMATION. As used in this Agreement,
         "Confidential Information" means information belonging to the Employer
         which is of value to the Employer in the course of conducting its
         business and the disclosure of which could result in a competitive or
         other disadvantage to the Employer. Confidential Information includes,
         without limitation, financial information, reports, and forecasts;
         inventions, improvements and other intellectual property; trade
         secrets; know-how; designs, processes or formulae; software; market or
         sales information or plans; customer lists; and business plans,
         prospects and opportunities (such as possible acquisitions or
         dispositions of businesses or facilities) which have been discussed or
         considered by the management of the Employer. Confidential Information
         includes information developed by the Executive in the course of the
         Executive's employment by the Employer, as well as other information to
         which the Executive may have access in connection with the Executive's
         employment. Confidential Information also includes the confidential
         information of others with which the Employer has a business
         relationship. Notwithstanding the foregoing, Confidential Information
         does not include information in the public domain, unless due to breach
         of the Executive's duties under Section 7(b).

                  (b) CONFIDENTIALITY. The Executive understands and agrees that
         the Executive's employment creates a relationship of confidence and
         trust between the Executive and the Employer with respect to all
         Confidential Information. At all times, both during the Executive's
         employment with the Employer and after its termination, the Executive
         will keep in confidence and trust all such Confidential Information,
         and will not use or disclose any such Confidential Information without
         the written consent of the Employer, except as may be necessary in the
         ordinary course of performing the Executive's duties to the Employer.

                  (c) DOCUMENTS, RECORDS, ETC. All documents, records, data,
         apparatus, equipment and other physical property, whether or not
         pertaining to Confidential Information, which are furnished to the
         Executive by the Employer or are produced by the Executive in
         connection with the Executive's employment will be and remain the sole
         property of the Employer. The Executive will return to the Employer all
         such materials and property as and when requested by the Employer. In
         any event, the Executive will return all such materials and property
         immediately upon termination of the Executive's employment for any
         reason. The Executive will not retain with the Executive any such
         material or property or any copies thereof after such termination.

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                  (d) NONCOMPETITION AND NONSOLICITATION. Without the prior
         written consent of the CEO, during the period that Executive is
         employed by Employer and for one (1) year thereafter, the Executive (i)
         will not, directly or indirectly, whether as owner, partner,
         shareholder, consultant, agent, employee, co-venturer or otherwise,
         engage, participate, assist or invest in any Competing Business (as
         hereinafter defined); (ii) will refrain from directly or indirectly
         employing, attempting to employ, recruiting or otherwise soliciting,
         inducing or influencing any person to leave employment with the
         Employer; and (iii) will refrain from soliciting or encouraging any
         customer or supplier to terminate or otherwise modify adversely its
         business relationship with the Employer. The Executive understands that
         the restrictions set forth in this Section 7(d) are intended to protect
         the Employer's interest in its Confidential Information and established
         employee, customer and supplier relationships and goodwill, and agrees
         that such restrictions are reasonable and appropriate for this purpose.
         For purposes of this Agreement, the term "Competing Business" shall
         mean any business that provides or intends to provide the same or
         similar types of services or products as those provided or targeted by
         Employer or any of its subsidiaries in any geographic area then served
         or targeted by Employer or any of its subsidiaries. Notwithstanding the
         foregoing, the Executive may own up to two percent (2%) of the
         outstanding stock of a publicly held corporation.

                  (e) THIRD-PARTY AGREEMENTS AND RIGHTS. The Executive hereby
         confirms that the Executive is not bound by the terms of any agreement
         with any previous employer or other party which restricts in any way
         the Executive's use or disclosure of information or the Executive's
         engagement in any business. The Executive represents to the Employer
         that the Executive's execution of this Agreement, the Executive's
         employment with the Employer and the performance of the Executive's
         proposed duties for the Employer will not violate any obligations the
         Executive may have to any such previous employer or other party. In the
         Executive's work for the Employer, the Executive will not disclose or
         make use of any information in violation of any agreements with or
         rights of any such previous employer or other party, and the Executive
         will not bring to the premises of the Employer any copies or other
         tangible embodiments of non-public information belonging to or obtained
         from any such previous employment or other party.

                  (f) LITIGATION AND REGULATORY COOPERATION. During and after
         the Executive's employment, the Executive shall cooperate fully with
         the Employer in the defense or prosecution of any claims or actions now
         in existence or which may be brought in the future against or on behalf
         of the Employer which relate to events or occurrences that transpired
         while the Executive was employed by the Employer. The Executive's full
         cooperation in connection with such claims or actions shall include,
         but not be limited to, being available to meet with counsel to prepare
         for discovery or trial and to act as a witness on behalf of the
         Employer at mutually convenient times. During and after the Executive's
         employment, the

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         Executive also shall cooperate fully with the Employer in connection
         with any investigation or review of any federal, state or local
         regulatory authority as any such investigation or review relates to
         events or occurrences that transpired while the Executive was employed
         by the Employer. The Employer shall reimburse the Executive for any
         reasonable out-of-pocket expenses incurred in connection with the
         Executive's performance of obligations pursuant to this Section 7(f)
         and shall pay the Executive for his time at his annual salary rate in
         effect at the time of the termination of his employment.

                  (g) INJUNCTION. The Executive agrees that it would be
         difficult to measure any damages caused to the Employer which might
         result from any breach by the Executive of the promises set forth in
         this Section 7, and that in any event money damages would be an
         inadequate remedy for any such breach. Accordingly, subject to Section
         8 of this Agreement, the Executive agrees that if the Executive
         breaches, or proposes to breach, any portion of this Agreement, the
         Employer shall be entitled, in addition to all other remedies that it
         may have, to an injunction or other appropriate equitable relief to
         restrain any such breach without showing or proving any actual damage
         to the Employer.

         8. ARBITRATION OF DISPUTES. Any controversy or claim arising out of or
relating to this Agreement or the breach thereof or otherwise arising out of the
Executive's employment or the termination of that employment (including, without
limitation, any claims of unlawful employment discrimination whether based on
age or otherwise) shall, to the fullest extent permitted by law, be settled by
arbitration in any forum and form agreed upon by the parties or, in the absence
of such an agreement, under the auspices of the American Arbitration Association
("AAA") in San Diego, California in accordance with the Employment Dispute
Resolution Rules of the AAA, including, but not limited to, the rules and
procedures applicable to the selection of arbitrators. In the event that any
person or entity other than the Executive or the Employer may be a party with
regard to any such controversy or claim, such controversy or claim shall be
submitted to arbitration subject to such other person or entity's agreement.
Judgment upon the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof. This Section 8 shall be specifically enforceable.
Notwithstanding the foregoing, this Section 8 shall not preclude either party
from pursuing a court action for the sole purpose of obtaining a temporary
restraining order or a preliminary injunction in circumstances in which such
relief is appropriate; PROVIDED, that any other relief shall be pursued through
an arbitration proceeding pursuant to this Section 8.

         9. CONSENT TO JURISDICTION. To the extent that any court action is
permitted consistent with or to enforce Section 8 of this Agreement, the parties
hereby consent to the jurisdiction of the courts of the State of California.
Accordingly, with respect to any such court action, the Executive (a) submits to
the personal jurisdiction of such courts; (b) consents to service of process;
and (c) waives any other requirement (whether imposed by statute, rule of court,
or otherwise) with respect to personal jurisdiction or service of process.

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         10. INTEGRATION. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter hereof and supersedes all
prior agreements between the parties with respect to any related subject matter.

         11. ASSIGNMENT; SUCCESSORS AND ASSIGNS, ETC. Neither the Employer nor
the Executive may make any assignment of this Agreement or any interest herein,
by operation of law or otherwise, without the prior written consent of the other
party; PROVIDED, that the Employer may assign its rights under this Agreement
without the consent of the Executive in the event that the Employer shall effect
a reorganization, consolidate with or merge into any other corporation,
partnership, organization or other entity, or transfer all or substantially all
of its properties or assets to any other corporation, partnership, organization
or other entity. This Agreement shall inure to the benefit of and be binding
upon the Employer and the Executive, their respective successors, executors,
administrators, heirs and permitted assigns.

         12. ENFORCEABILITY. If any portion or provision of this Agreement
(including, without limitation, any portion or provision of any section of this
Agreement) shall to any extent be declared illegal or unenforceable by a court
of competent jurisdiction, then the remainder of this Agreement, or the
application of such portion or provision in circumstances other than those as to
which it is so declared illegal or unenforceable, shall not be affected thereby,
and each portion and provision of this Agreement shall be valid and enforceable
to the fullest extent permitted by law.

         13. WAIVER. No waiver of any provision hereof shall be effective unless
made in writing and signed by the waiving party. The failure of any party to
require the performance of any term or obligation of this Agreement, or the
waiver by any party of any breach of this Agreement, shall not prevent any
subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach.

         14. NOTICES. Any notices, requests, demands and other communications
provided for by this Agreement shall be sufficient if in writing and delivered
in person or sent by a nationally recognized overnight courier service or by
registered or certified mail, postage prepaid, return receipt requested, to the
Executive at the last address the Executive has filed in writing with the
Employer or, in the case of the Employer, at 1140 Pearl Street, Boulder, CO
80302, ATTN: Thomas P. Sweeney III, and shall be effective on the date of
delivery in person or by courier or three (3) days after the date mailed.

         15. AMENDMENT. This Agreement may be amended or modified only by a
written instrument signed by the Executive and by a duly authorized
representative of the Employer.

         16. GOVERNING LAW. This is a California contract and shall be construed
under and be governed in all respects by the laws of the State of Washington,
without giving effect to the conflict of laws principles of such State.

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         17. COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which when so executed and delivered shall be taken to be
an original; but such counterparts shall together constitute one and the same
document.

         IN WITNESS WHEREOF, this Agreement has been executed by the Employer
and by the Executive as of the 30th day of March 2005.

                                               PWI TECHNOLOGIES, INC.:

                                               By:  /s/ THOMAS P. SWEENEY
                                                   ----------------------
                                               Name:  Thomas P. Sweeney III
                                               Title: Chief Executive Officer

                                               EXECUTIVE:

                                               /s/ BARRY R. ANDERSEN
                                               ---------------------
                                               Barry R. Andersen

                                       9EXHIBIT 10.3

                          REGISTRATION RIGHTS AGREEMENT

         REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as of March 30,
2005, between INCENTRA SOLUTIONS, INC., a Nevada corporation (the "COMPANY"),
and MRA SYSTEMS, INC., dba GE ACCESS, a Delaware corporation, ("PURCHASER").

                                    RECITALS

         WHEREAS, pursuant to the terms of a Stock Purchase Agreement dated as
of March 30, 2005 (the "PURCHASE AGREEMENT") between the Company and Purchaser,
and in connection with that certain Payoff and Settlement Agreement dated
contemporaneously herewith (the "SETTLEMENT AGREEMENT"), the Company has agreed
to issue to the Purchaser such number of shares of Common Stock, $0.001 par
value, of the Company (the "COMMON STOCK") as determined pursuant to the
Purchase Agreement and the Settlement Agreement; and

         WHEREAS, as a condition precedent to the consummation of the
transactions contemplated by the Purchase Agreement and the Settlement
Agreement, the Company has agreed to provide certain registration rights
pursuant to the terms of this Agreement;

         NOW, THEREFORE, in consideration of the mutual covenants and
obligations hereinafter set forth, the parties hereto, intending to be legally
bound, hereby agree as follows:

         1. DEFINITIONS. For purposes of this Agreement, capitalized terms used
herein shall have the meanings set forth in the preambles hereto and in this
Section 1.

                  1.1 "COMMISSION" shall mean the Securities and Exchange
Commission or any other federal agency at the time administering the Securities
Act.

                  1.2 "COMMON STOCK" shall mean the common stock, par value
$.001 per share, of the Company or, in the case of a conversion,
reclassification or exchange of such shares of such Common Stock, shares of the
stock issued or issuable in respect of such shares of Common Stock, and all
provisions of this Agreement shall be applied appropriately thereto and to any
stock resulting therefrom.

                  1.3 "EXCHANGE ACT" shall mean the Securities Exchange Act of
1934, as amended, or any similar federal statute enacted hereafter, and the
rules and regulations of the Commission thereunder, all as the same shall be in
effect from time to time.

                  1.4 "EXISTING RIGHTS AGREEMENTS" shall mean (i) the warrant
agreements originally dated as of October 10, 2000 between the Company and the
Original Warrantholders for the purchase of an aggregate of 800,000 shares of
Common Stock and any warrant agreement executed and delivered by the Company
upon the registration or transfer of any warrants evidenced by such warrant
agreements, (ii) the Registration Rights Agreement dated as of

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October 10, 2000 between the Company and Equity Pier LLC (iii) the warrant
agreement between the Company and Equity Pier LLC dated February 28, 2001, (iv)
the Form SB-2 filed on or about June 29, 2004, (v) the Registration Rights
Agreement between the Company and former Managed Storage International, Inc.
shareholders dated August 18, 2004, and (vi) the Registration Rights Agreement
dated as of February 18, 2005 between the Company and Alfred Curmi.

                  1.5 "HOLDER" shall mean any holder of Registrable Securities;
provided, however, that any Person who acquires any of the Registrable
Securities in a distribution pursuant to a registration statement filed by the
Company under the Securities Act or pursuant to a public sale under Rule 144
under the Securities Act or any similar or successor rule shall not be
considered a Holder.

                  1.6 "INITIATING HOLDERS" shall mean Holders representing (on a
fully diluted basis) at least fifty-one percent (51%) of the total number of
Registrable Securities.

                  1.7 "ORIGINAL WARRANTHOLDERS" shall mean Hawke Company Ltd,
Tillgrove Investments Ltd and Notel Group Limited.

                  1.8 "OTHER STOCKHOLDERS" shall have the meaning given in
Section 2.2.

                  1.9 "PERSON" shall mean any individual, firm, corporation,
partnership, trust, incorporated or unincorporated association, joint venture,
joint stock company, government (or an agency or political subdivision thereof)
or other entity of any kind.

                  1.10 "REGISTER", "rEGISTERED" and "REGISTRATION" shall refer
to a registration effected by preparing and filing a registration statement with
the Commission in compliance with the Securities Act and applicable rules and
regulations thereunder, and the declaration or ordering of the effectiveness of
such registration statement by the Commission.

                  1.11 "REGISTRABLE SECURITIES" shall mean (A) the shares of
Common Stock issued to the Purchaser pursuant to the Purchase Agreement and (B)
any stock of the Company issued as a dividend or other distribution with respect
to, or in exchange for or in replacement of, the shares of Common Stock referred
to in clause (A); PROVIDED, HOWEVER, that such shares of Common Stock shall only
be treated as Registrable Securities hereunder if and so long as they have not
been sold in a registered public offering or have not been sold to the public
pursuant to Rule 144 under the Securities Act or any similar or successor rule.

                  1.12 "REGISTRATION EXPENSES" shall mean all expenses incurred
by the Company in compliance herewith, including, without limitation, all
registration and filing fees, printing expenses, fees and disbursements of
counsel for the Company, blue sky fees and expenses, the reasonable fees and
expenses (subject to documentation thereof) of one counsel for all Holders and
Other Stockholders that offer securities being sold pursuant to this Agreement
or any of the Existing Rights Agreements, and the expense of any special audits
incident to or required by any

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such registration (but excluding the compensation of regular employees of the
Company, which shall be paid in any event by the Company).

                  1.13 "SECURITIES ACT" shall mean the Securities Act of 1933,
as amended, or any similar federal statute enacted hereafter, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect
from time to time.

                  1.14 "SELLING EXPENSES" shall mean all underwriting discounts
and commissions applicable to the sale of Registrable Securities.

         2.       DEMAND REGISTRATION.

                  2.1 REQUEST FOR REGISTRATION. At any time after March 31, 2006
(such date being hereinafter referred to as the "Demand Date"), if the Company
shall receive from Initiating Holders a written request that the Company effect
any registration with respect to Registrable Securities the Company will:

                           (a) promptly give written notice of the proposed
                  registration to all other Holders; and

                           (b) as soon as practicable, use its best efforts to
                  effect such registration (including, without limitation, the
                  execution of an undertaking to file post- effective
                  amendments, appropriate qualification under the blue sky or
                  other state securities laws requested by Initiating Holders
                  and appropriate compliance with applicable regulations issued
                  under the Securities Act) as may be so requested and as would
                  permit or facilitate the sale and distribution of all or such
                  portion of such Registrable Securities as are specified in
                  such request, together with all or such portion of the
                  Registrable Securities of any Holder or Holders joining in
                  such request as are specified in a written request given
                  within thirty (30) days after receipt of such written notice
                  from the Company; provided, that the Company shall not be
                  obligated to effect, or to take any action to effect, any such
                  registration pursuant to this Section 2:

                                    (i) in any particular jurisdiction in which
                           the Company would be required to execute a general
                           consent to service of process in effecting such
                           registration, qualification or compliance, unless the
                           Company is already subject to service in such
                           jurisdiction and except as may be required by the
                           Securities Act or applicable rules or regulations
                           thereunder;

                                    (ii) less than ninety (90) calendar days
                           after the effective date of any registration declared
                           or ordered effective other than a registration on
                           Form S-3 or Form S-8;

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                                    (iii) if, while a registration request is
                           pending pursuant to this Section 2, the Company
                           determines, in the good faith judgment of the Board
                           of Directors of the Company, with the advice of
                           counsel, that the filing of a registration statement
                           would require the disclosure of non-public material
                           information the disclosure of which would have a
                           material adverse effect on the Company or would
                           otherwise materially adversely affect a financing,
                           acquisition, disposition, merger or other significant
                           transaction, the Company shall deliver a certificate
                           to such effect signed by its President to the
                           proposed selling Holders and the Company shall not be
                           required to effect a registration pursuant to this
                           Section 2 until the earlier of (A) three (3) days
                           after the date upon which such material information
                           is disclosed to the public or ceases to be material
                           or (B) 90 days after the Company makes such good
                           faith determination; provided, however, that the
                           Company shall not utilize this right more than once
                           in any twelve month period; or

                                    (iv) except as set forth in Section 2.5,
                           after the second such registration pursuant to this
                           Section 2.1 has been declared or ordered effective.

         Subject to the foregoing clauses (i), (ii), (iii) and (iv), the Company
shall file a registration statement covering the Registrable Securities so
requested to be registered as soon as practicable after receipt of the request
or requests of the Initiating Holders.

                  2.2 ADDITIONAL SHARES TO BE INCLUDED. The registration
statement filed pursuant to the request of the Initiating Holders may, subject
to the provisions of Section 2.4, include (a) other securities of the Company
(the "ADDITIONAL SHARES") which are held by (i) officers or directors of the
Company who, by virtue of agreements with the Company, are entitled to include
their securities in any such registration or (ii) other persons who, by virtue
of agreements with the Company, including the Existing Rights Agreements, are
entitled to include their securities in any such registration (the "OTHER
STOCKHOLDERS"), and (b) securities of the Company being sold for the account of
the Company.

                  2.3      UNDERWRITING.

                  (a) If the Initiating Holders intend to distribute the
Registrable Securities covered by their request by means of an underwriting,
they shall so advise the Company as a part of their request made pursuant to
this Section 2 and the Company shall include such information in the written
notice to other Holders referred to in Section 2.1 above. The right of any
Holder to registration pursuant to this Section 2 shall be conditioned upon such
Holder's participation in such underwriting and the inclusion of such Holder's
Registrable Securities in the underwriting to the extent provided herein and
subject to the limitations provided herein. A Holder may elect to include in
such underwriting all or a part of the Registrable Securities he holds.

                                       4
<PAGE>

                  (b) The Company shall (together with all Holders, officers,
directors and Other Stockholders proposing to distribute their securities
through such underwriting) negotiate and enter into an underwriting agreement in
customary form with the representative of the underwriter or underwriters
selected for such underwriting by a majority in interest of the Initiating
Holders, which underwriter(s) shall be reasonably acceptable to the Company;
provided that no Holder shall be required to make any representations or
warranties to or agreements (other than a lock-up agreement pursuant to Section
11) with the Company or the underwriters, other than representations, warranties
or agreements regarding the Holder, its Registrable Securities and its intended
method of distribution and any other representation required by law.

                  2.4 LIMITATIONS ON SHARES TO BE INCLUDED. Notwithstanding any
other provision of this Section 2. 4, if the representative of the underwriters
of a firm commitment underwriting advises the Initiating Holders in writing that
marketing factors require a limitation on the number of shares to be
underwritten, the number of shares of securities that are entitled to be
included in the registration and underwriting shall be allocated as follows:
first, among the Holders, in proportion, as nearly as practicable, to the
respective amounts of Registrable Securities which they had requested to be
included in such registration; second, among the Other Stockholders that offer
securities being sold pursuant to the Existing Rights Agreements, in proportion,
as nearly as practicable, to the respective amounts of Additional Shares which
they had requested to be included in such registration pursuant to the Existing
Rights Agreements; third, to the Company for securities being sold for its own
account; and thereafter, the number of shares that may be included in the
registration statement and underwriting shall be allocated among all officers or
directors or remaining Other Stockholders, in each case in proportion, as nearly
as practicable, to the respective amounts of Additional Shares which they had
requested to be included in such registration at the time of filing the
registration statement. If the Company or any Holder, officer, director or Other
Stockholder who has requested inclusion in such registration as provided above
disapproves of the terms of any such underwriting, such Person may elect to
withdraw such Person's Registrable Securities or Additional Shares therefrom by
written notice to the Company, the underwriter and the Initiating Holders. Any
Registrable Securities or other securities excluded shall also be withdrawn from
such registration. No Registrable Securities or Additional Shares excluded from
such registration by reason of such underwriters' marketing limitation shall be
included in such registration. To facilitate the allocation of shares in
accordance with this Section 2.4, the Company or underwriter or underwriters
selected as provided above may round the number of Registrable Securities of any
Holder which may be included in such registration to the nearest 100 shares.

                  2.5 ADDITIONAL DEMAND REGISTRATION. If with respect to the
last registration permitted to be exercised by the Holders of Registrable
Securities under Section 2.1, the Holders are unable to register all of their
Registrable Securities because of the operation of Section 2.4 hereof, such
Holders shall be entitled to require the Company to effect one additional
registration to afford the Holders an opportunity to register all such
Registrable Securities. Such additional registration shall again be subject to
the provisions of this Section 2.

                                       5
<PAGE>

         3.       COMPANY REGISTRATION.

                  3.1 If at any time after the date of this Agreement the
Company shall determine to register under the Securities Act any of its equity
securities or securities convertible into equity securities either for its own
account or the account of a security holder or holders exercising any demand
registration rights, other than a registration relating solely to employee
benefit plans, or a registration relating solely to a transaction described in
Rule 145(a) of the Securities Act, or a registration on Form S-4 or S-8, the
Company will:

                           (a) promptly give to each Holder written notice
                  thereof (which shall include a list of the jurisdictions in
                  which the Company intends to attempt to qualify such
                  securities under the applicable blue sky or other state
                  securities laws); and

                           (b) include in such registration (and, subject to
                  Section 2.1(b)(i), any related qualification under blue sky
                  laws or other compliance), and in any underwriting involved
                  therein, all the Registrable Securities specified in a written
                  request or request, made by any Holder within thirty (30) days
                  after receipt of the written notice from the Company described
                  in clause (a) above, except as set forth in Section 3.3 below.
                  Such written request may specify all or a part of a Holder's
                  Registrable Securities.

                  3.2 UNDERWRITING. If the registration of which the Company
gives notice is for a registered public offering involving an underwriting, the
Company shall so advise the Holders as a part of the written notice given
pursuant to Section 3.1(a). The right of any Holder to registration pursuant to
this Section 3 shall be conditioned upon such Holder's participation in such
underwriting and the inclusion of such Holder's Registrable Securities in the
underwriting to the extent provided herein. All Holders proposing to distribute
their securities through such underwriting shall (together with the Company and
any officers, directors or Other Stockholders distributing their securities
through such underwriting) enter into an underwriting agreement in customary
form with the representative of the underwriter or underwriters selected by the
Company; provided that no Holder shall be required to make any representations
or warranties to or agreements (other than a lock-up agreement pursuant to
Section 11) with the Company or the underwriters, other than representations,
warranties or agreements regarding the Holder, its Registrable Securities and
its intended method of distribution and any other representation required by
law.

                  3.3 LIMITATIONS ON SHARES TO BE INCLUDED. Notwithstanding any
other provision of this Section 3, if the representative of the underwriters of
a firm commitment underwriting a Company-initiated registration of shares
advises the Initiating Holders in writing that marketing factors require a
limitation on the number of shares to be underwritten, the number of shares of
securities that are entitled to be included in the registration and underwriting
shall be allocated as follows: first, to the Company for securities being sold
for its own account; second, among the Other Stockholders that offer securities
being sold pursuant to the Existing Rights Agreements, in proportion, as nearly
as practicable, to the respective amounts of Additional Shares which they had
requested to be included in such registration pursuant to the Existing Rights
Agreements; third, among the Holders, in proportion, as nearly as practicable,
to the respective amounts of

                                       6
<PAGE>

Registrable Securities which they had requested to be included in such
registration; and thereafter, the number of shares that may be included in the
registration statement and underwriting shall be allocated among all officers or
directors or remaining Other Stockholders, in each case in proportion, as nearly
as practicable, to the respective amounts of Additional Shares which they had
requested to be included in such registration at the time of filing the
registration statement. If the Company or any Holder, officer, director or Other
Stockholder who has requested inclusion in such registration as provided above
disapproves of the terms of any such underwriting, such Person may elect to
withdraw such Person's Registrable Securities or Additional Shares therefrom by
written notice to the Company, the underwriter and the Initiating Holders. Any
Registrable Securities or other securities excluded shall also be withdrawn from
such registration. No Registrable Securities or Additional Shares excluded from
such registration by reason of such underwriters' marketing limitation shall be
included in such registration. To facilitate the allocation of shares in
accordance with this Section 3.3, the Company or underwriter or underwriters
selected as provided above may round the number of Registrable Securities of any
Holder which may be included in such registration to the nearest 100 shares.

         3.4 OTHER STOCKHOLDERS. The Company represents and warrants for the
benefit of Purchaser, as of the date hereof, that (x) each of (i) the
Registration Rights Agreement dated as of October 10, 2000 between the Company
and Equity Pier LLC (ii) the Registration Rights Agreement between the Company
and former Managed Storage International, Inc. shareholders dated August 18,
2004, and (iii) the Registration Rights Agreement dated as of February 18, 2005
between the Company and Alfred Curmi, represent current, valid and enforceable
obligations of the Company with respect to unregistered stock issued to the
entities referred to in this clause (x), and (y) each of the registration rights
agreements referred to in clause (x) requires that the stated beneficiary (or
any proper assignee thereof) shall have a priority interest relative to any
subsequent recipient of a registration rights agreement from the Company with
respect to the inclusion of such beneficiary's unregistered shares in a
registered offering of the kind provided for in this Section 3.

         4. EXPENSES OF REGISTRATION. All Registration Expenses incurred in
connection with any registration, qualification or compliance pursuant to this
Agreement shall be borne by the Company, except that Selling Expenses shall be
borne pro rata by each Holder in accordance with the number of shares sold.

         5. REGISTRATION PROCEDURES.

                  5.1 In the case of each registration effected by the Company
pursuant to this Agreement, the Company will keep each Holder advised in writing
as to the initiation of each registration and as to the completion thereof and
will, at its expense:

                           (a) use all reasonable efforts to keep such
                  registration effective for a period of 180 days or until the
                  Holder or Holders have completed the distribution described in
                  the registration statement relating thereto, whichever first
                  occurs; provided, however, that the Company will keep such
                  registration effective for

                                       7
<PAGE>

                  longer than 180 days if the costs and expenses associated with
                  such extended registration are borne by the selling Holders;

                           (b) Prepare and file with the Commission such
                  amendments and supplements to such registration statement and
                  the prospectus used in connection with such registration
                  statement as may be necessary to comply with the provisions of
                  the Securities Act with respect to the disposition of all
                  securities covered by such registration statement;

                           (c) Furnish such number of prospectuses and other
                  documents incident thereto, including any amendment of or
                  supplement to the prospectus, as a Holder from time to time
                  may reasonably request;

                           (d) Notify each seller of Registrable Securities
                  covered by such registration statement at any time when a
                  prospectus relating thereto is required to be delivered under
                  the Securities Act of the happening of any event as a result
                  of which the prospectus included in such registration
                  statement, as then in effect, includes an untrue statement of
                  a material fact or omits to state a material fact required to
                  be stated therein or necessary to make the statements therein
                  not misleading or incomplete in the light of the circumstances
                  then existing, and at the request of any such seller, prepare
                  and furnish to such seller a reasonable number of copies of a
                  supplement to or an amendment of such prospectus as may be
                  necessary so that, as thereafter delivered to the purchasers
                  of such shares, such prospectus shall not include an untrue
                  statement of a material fact or omit to state a material fact
                  required to be stated therein or necessary to make the
                  statements therein not misleading or incomplete in the light
                  of the circumstances then existing;

                           (e) List all such Registrable Securities registered
                  in such registration on each securities exchange or automated
                  quotation system on which the Common Stock of the Company is
                  then listed;

                           (f) Provide a transfer agent and registrar for all
                  Registrable Securities and a CUSIP number for all such
                  Registrable Securities, in each case not later than the
                  effective date of such registration;

                           (g) Make available for inspection by any seller of
                  Registrable Securities, any underwriter participating in any
                  disposition pursuant to such registration statement, and any
                  attorney or accountant retained by any such seller or
                  underwriter, all financial and other records, pertinent
                  corporate documents and properties of the Company, and cause
                  the Company's officers and directors to supply all information
                  reasonably requested by any such seller, underwriter, attorney
                  or accountant in connection with such registration statement;

                                       8
<PAGE>

                           (h) Furnish to each selling Holder upon request a
                  signed counterpart, addressed to each such selling Holder, of

                                    (i) an opinion of counsel for the Company,
                           dated the effective date of the registration
                           statement in form reasonably acceptable to the
                           Company and such counsel, and

                                    (ii) "comfort" letters signed by the
                           Company's independent public accountants who have
                           examined and reported on the Company's financial
                           statements included in the registration statement, to
                           the extent permitted by the standards of the American
                           Institute of Certified Public Accountants, covering
                           such matters as are customarily covered in opinions
                           of issuer's counsel and accountants' "comfort"
                           letters delivered to underwriters in underwritten
                           public offerings of securities;

                           (i) Furnish to each selling Holder upon request a
                  copy of all documents filed with and all correspondence from
                  or to the Commission in connection with any such offering; and

                           (j) Make available to its security holders, as soon
                  as reasonably practicable, an earnings statement covering the
                  period of at least twelve months, but not more than eighteen
                  months, beginning with the first month after the effective
                  date of the Registration Statement, which earnings statement
                  shall satisfy the provisions of Section 11(a) of the
                  Securities Act.

                  5.2 It shall be a condition precedent to the obligations of
the Company to take any action pursuant to this Agreement that the Holders
proposing to register Registrable Securities shall furnish to the Company such
information regarding themselves, the Registrable Securities held by them, and
their intended method of distribution of such Registrable Securities as the
Company shall reasonably request and as shall be required in connection with the
action to be taken by the Company; provided that no Holder shall be required to
make any representations or warranties to or agreements (other than a lock-up
agreement pursuant to Section 11) with the Company or the underwriters, other
than representations, warranties or agreements regarding the Holder, its
Registrable Securities and its intended method of distribution and any other
representation required by law.

                  5.3 In connection with the preparation and filing of each
registration statement under this Agreement, the Company will give the Holders
on whose behalf such Registrable Securities are to be registered and their
underwriters, if any, and their respective counsel and accountants, the
opportunity to review such registration statement, each prospectus included
therein or filed with the Commission, and each amendment thereof or supplement
thereto, and will give each such Holder such access to the Company's books and
records and such opportunities to discuss the business of the Company with its
officers, its counsel and the independent public accountants who have certified
the Company's financial statements, as shall

                                       9
<PAGE>

be necessary, in the opinion of such Holders or such underwriters or their
respective counsel, in order to conduct a reasonable and diligent investigation
within the meaning of the Securities Act.

         6.       INDEMNIFICATION.

                  6.1 INDEMNIFICATION BY THE COMPANY. The Company will indemnify
each Holder, each of its officers, directors and partners, and each person
controlling such Holder, with respect to which registration, qualification or
compliance has been effected pursuant to this Agreement, and each underwriter,
if any, and each Person who controls any underwriter, against all claims,
losses, damages and liabilities (or actions, proceedings or settlements in
respect thereof) arising out of or based on any untrue statement (or alleged
untrue statement) of a material fact contained in any prospectus, offering
circular or other document (including any related registration statement,
notification or the like) incident to any such registration, qualification or
compliance, or based on any omission (or alleged omission) to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, or any violation by the Company of the Securities Act,
any state securities law, or any rule or regulation thereunder applicable to the
Company and relating to action or inaction required of the Company in connection
with any such registration, qualification or compliance, and will reimburse each
such Holder, each of its officers, directors and partners, and each Person
controlling such Holder, each such underwriter and each Person who controls any
such underwriter, for any legal and any other expenses reasonably incurred in
connection with investigating and defending or settling any such claim, loss,
damage, liability or action, provided that the Company will not be liable in any
such case to the extent that any such claim, loss, damage, liability or expense
arises out of or is based on any untrue statement or omission made solely in
reliance upon and based upon written information furnished to the Company by
such Holder or underwriter and stated to be specifically for use therein.

                  6.2 INDEMNIFICATION BY THE HOLDERS. Each Holder will, if
Registrable Securities held by him are included in the securities as to which
such registration, qualification or compliance is being effected, indemnify the
Company, each of its directors and officers and each underwriter, if any, of the
Company's securities covered by such a registration statement, each person who
controls the Company (other than such Holder) or such underwriter within the
meaning of the Securities Act and the rules and regulations thereunder, each
other such Holder and each of their officers, directors and partners, and each
Person controlling such Holder or other stockholder, against all claims, losses,
damages, expenses and liabilities (or actions in respect thereof) arising out of
or based on any untrue statement (or alleged untrue statement) of a material
fact contained in any such registration statement, prospectus, offering circular
or other document, or any omission (or alleged omission) to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, and will reimburse the Company, each of its directors
and officers, each underwriter or control Person, each other Holder and each of
their officers, directors and partners and each Person controlling such Holder
or other stockholder for any legal or any other expenses reasonably incurred in
connection with investigating or defending any such claim, loss, damage,
liability or action, in each case to the extent, but only to the extent, that
such untrue statement (or alleged untrue statement) or

                                       10
<PAGE>

omission (or alleged omission) is made in such registration statement,
prospectus, offering circular or other document in reliance upon and in
conformity with written information furnished to the Company by such Holder and
stated to be specifically for use therein. Anything in this Agreement to the
contrary notwithstanding, Purchaser's aggregate liability for any and all claims
asserted by the Company under this Agreement, including this Section 6.2, shall
be the amount of proceeds received by Purchaser from the sale of any Registered
Securities (net of underwriter's discounts and commissions) submitted by it for
inclusion in any and all registration statements hereunder.

                  6.3 NOTICES OF CLAIMS, PROCEDURES, ETC. Each party entitled to
indemnification under this Section 6 (the "Indemnified Party") shall give notice
to the party required to provide indemnification (the "Indemnifying Party")
promptly after such Indemnified Party has actual knowledge of any claim as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim or any litigation resulting therefrom, provided
that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or any litigation resulting therefrom, shall be approved by the
Indemnified Party (whose approval shall not be unreasonably withheld), and the
Indemnified Party may participate in such defense at the Indemnified Party's
sole expense, and provided further that the failure of any Indemnified Party to
give notice as provided herein shall not relieve the Indemnifying Party of its
obligations under this Section 7 unless such failure is prejudicial to the
ability of Indemnifying Party to defend such claim or action. Notwithstanding
the foregoing, such Indemnified Party shall have the right to employ its own
counsel in any such litigation, proceeding or other action if (i) the employment
of such counsel has been authorized by the Indemnifying Party, in its sole and
absolute discretion, or (ii) the named parties in any such claims (including any
impleaded parties) include any such Indemnified Party and the Indemnified Party
and the Indemnifying Party shall have been advised in writing (in suitable
detail) by counsel to the Indemnified Party either (A) that there may be one or
more legal defenses available to such Indemnified Party which are different from
or additional to those available to the Indemnifying Party, or (B) that there is
a conflict of interest by virtue of the Indemnified Party and the Indemnifying
Parties having common counsel, in any of which events, the legal fees and
expenses of a single counsel for all Indemnified Parties with respect to each
such claim, defense thereof, or counterclaims thereto shall be borne by
Indemnifying Party. No Indemnifying Party, in the defense of any such claim or
litigation, shall, except with the consent of each Indemnified Party, consent to
entry of any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or
litigation. Each Indemnified Party shall cooperate to the extent reasonably
required and furnish such information regarding itself or the claim in question
as an Indemnifying Party may reasonably request in writing and as shall be
reasonably required in connection with defense of such claim and litigation
resulting therefrom.

         7. INFORMATION BY HOLDER. Each Holder of Registrable Securities shall
furnish to the Company such information regarding such Holder and the
distribution proposed by such Holder as the Company may reasonably request in
writing and as shall be reasonably required in connection with any registration,
qualification or compliance referred to in this Agreement; provided that no
Holder shall be required to make any representations or warranties to or

                                       11
<PAGE>

agreements (other than a lock-up agreement pursuant to Section 11) with the
Company or the underwriters, other than representations, warranties or
agreements regarding the Holder, its Registrable Securities and its intended
method of distribution and any other representation required by law.

         8. TRANSFER OR ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause
the Company to register securities granted by the Company under this Agreement
may be transferred or assigned by a Holder to a transferee or assignee of any
Registrable Securities; provided that the Company is given written notice at or
prior to the time of said transfer or assignment, stating the name and address
of said transferee or assignee and identifying the securities with respect to
which such registration rights are being transferred or assigned; and provided
further that the transferee or assignee of such rights assumes in writing the
obligations of a Holder under this Agreement to the Company and other Holders in
effect at the time of transfer under all effective agreements.

         9. EXCHANGE ACT COMPLIANCE. So long as the Company remains subject to
the reporting requirements of the Exchange Act, the Company shall file the
reports required to be filed by it under the Securities Act and the Exchange Act
and the rules and regulations adopted by the Commission thereunder, and will
take all actions reasonably necessary to enable holders of Registrable
Securities to sell such securities without registration under the Securities Act
within the limitation of the provisions of (a) Rule 144 under the Securities
Act, as such Rule may be amended from time to time, (b) Rule 144A under the
Securities Act, as such Rule may be amended from time to time, if applicable or
(c) any similar rules or regulations hereunder adopted by the Commission. Upon
the request of any Holder of Registrable Securities, the Company will deliver to
such Holder a written statement as to whether it has complied with such
requirements. After any sale of Registrable Securities pursuant to the
provisions of Rule 144 or 144A, the Company will, to the extent allowed by law,
promptly cause any restrictive legends to be removed and any transfer
restrictions to be rescinded with respect to such Registrable Securities. In
order to permit a Holder to sell the same, if it so desires, pursuant to Rule
144A promulgated by the Commission (or any successor to such rule), the Company
will comply with all rules and regulations of the Commission applicable to the
Company in connection with use of Rule 144A (or any successor thereto).
Prospective transferees of Registrable Securities that are Qualified
Institutional Buyers (as defined in Rule 144A) that would be purchasing such
Registrable Securities in reliance upon Rule 144A may request from the Company
information regarding the business, operations and assets of the Company. Within
five (5) business days of any such request, the Company shall deliver to any
such prospective transferee copies of annual audited and quarterly unaudited
financial statements of the Company and such other information as may be
required to be supplied by the Company for it to comply with Rule 144A.

         10. NO CONFLICT OF RIGHTS. The Company will not hereafter enter into
any agreement with respect to its securities which is inconsistent with the
rights granted to the Holders in this Agreement. Without limiting the generality
of the foregoing, the Company will not hereafter enter into any agreement with
respect to its securities which grants, or modifies any existing agreement with
respect to its securities to grant, to the holder of its securities equal or
higher priority to the rights granted to the Holders under Sections 2 and 3 of
this Agreement.

                                       12
<PAGE>

         11. BENEFITS OF AGREEMENT; SUCCESSORS AND ASSIGNS. This Agreement shall
be binding upon and inure to the benefit of the parties and their respective
successors and permitted assigns, legal representatives and heirs. This
Agreement does not create, and shall not be construed as creating, any rights
enforceable by any other Person.

         12. COMPLETE AGREEMENT. This Agreement constitutes the complete
understanding among the parties with respect to its subject matter and
supersedes all existing agreements and understandings, whether oral or written,
among them. No alteration or modification of any provisions of this Agreement
shall be valid unless made in writing and signed, on the one hand, by the
Holders of a majority of the Registrable Securities then outstanding and, on the
other, by the Company.

         13. SECTION HEADINGS. The section headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

         14. NOTICES. All notices, offers, acceptances and other communications
required or permitted to be given or to otherwise be made to any party to this
Agreement shall be deemed to be sufficient if contained in a written instrument
delivered by hand, first class mail (registered or certified, return receipt
requested), telecopier or overnight air courier guaranteeing next day delivery,
if to the Company, at 1140 Pearl Street, Boulder, Colorado 80302, Attention:
Chief Financial Officer, with a copy to Reed Guest, Esq., 94 Underhill Road,
Orinda, CA 94563, and if to the Purchaser, to Timothy Heiman, Financial Services
Regional Manager, 11300 Westmoor Circle Westminster, CO 80021, with a copy to
Gil Elon, GE Commercial Finance, 10 Riverview Drive, Danbury, CT 06810, or at
such other address as may have been furnished the Company in writing.

         All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
acknowledged, if telecopied; and the next business day after timely delivery to
the courier, if sent by overnight air courier guaranteeing next day delivery.
Any party may change the address to which each such notice or communication
shall be sent by giving written notice to the other parties of such new address
in the manner provided herein for giving notice.

         16. GOVERNING LAW. This Agreement shall be governed by, and construed
and enforced in accordance with, the laws of the State of New York without
giving effect to the provisions, policies or principles thereof respecting
conflict or choice of laws.

         17. COUNTERPARTS. This Agreement may be executed in one or more
counterparts each of which shall be deemed an original but all of which taken
together shall constitute one and the same agreement.

                                       13
<PAGE>

         18. SEVERABILITY. Any provision of this Agreement which is determined
to be illegal, prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such illegality, prohibition or
unenforceability without invalidating the remaining provisions hereof which
shall be severable and enforceable according to their terms and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

         IN WITNESS WHEREOF, the parties have signed this Agreement as of the
date first set forth above.

                                           INCENTRA SOLUTIONS, INC.

                                           By:   /s/ THOMAS P. SWEENEY
                                               ------------------------
                                               Name: Thomas P. Sweeney III
                                               Title: Chief Executive Officer

                                           THE PURCHASER
                                           MRA SYSTEMS, INC. DBA GE ACCESS

                                           By:   /s/ Valerie Pagliano
                                              -------------------------------

                                              Name:  Valerie Pagliano
                                                   --------------------------
                                              Title: Chief Financial Officer
                                                    -------------------------

                                       14

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