Document:

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                                                                    Exhibit 4.3

SHARE EXCHANGE AGREEMENT

This Agreement is dated as at December 24, 2003 by and among :

1. MYMETICS CORPORATION, a company incorporated under the laws of Delaware
(United States of America), with registered office at c/o Cohen & Grigsby, 11,
Stanwix Street, Pittsburg PA 15222-1319 (United States of America), hereafter
represented by Mr. Christian ROCHET, President and Chief Executive Officer and
Mr. Ernst LUBKE, Chief Financial Officer (hereafter called "Mymetics")

2. [Details of Investor] (hereafter called "the Investor")

being hereafter collectively referred to as the "Parties to the present
agreement" and any of them also referred to as a "Party".

WHEREAS the company 6543 LUXEMBOURG S.A. (being hereafter referred to as "the
Company") is a "societe anonyme" incorporated under the laws of Luxembourg on
March 28, 2001, inscribed at the Trade Register of Luxembourg under number B 81
628 and having its registered office at L-1325 Luxembourg, 3, rue de la
Chapelle.

WHEREAS the Company has two classes of shares, being Class A Shares, composed of
15,865 ordinary shares and Class B Shares, composed of 15,372 exchangeable
preferential non voting shares.

WHEREAS the holders of Class B Shares had the right to proceed to an exchange of
their Class B Shares against common shares of Mymetics and to date, have
effectively exchanged each of their Class B Shares against common shares of
Mymetics.

WHEREAS the Investor intends to subscribe to 800 new Class B Shares of the
Company at a total subscription price of E 83,200 and wants to benefit from the
same right of exchange of such shares against common shares of Mymetics as had
the former Class B shareholders of the Company.

WHEREAS the Investor wants furthermore an irrevocable option to subscribe latest
on June 30, 2004 to an additional number of 1,000,000 shares of Mymetics at a
total exercise price of US$ 100,000.-,

WHEREAS Mymetics is willing to grant such rights to the Investor.

NOW, THEREFORE, in consideration of the mutual promises and agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows :

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1. Agreement

1.1. Exchange of shares:

Mymetics hereby agrees to proceed, at the request of the Investor, to an
exchange of each and all, but not less than all, of the new Class B Shares of
the Company which will be held by the Investor subsequent to an increase of
subscribed capital of the Company effected before January 31, 2004 (hereafter
"the Shares") against shares of common stock of Mymetics, par value $0.01.

For each share of Class B of the Company the Investor shall receive 1,250 (and
not more) shares of common stock of Mymetics.

The Investor undertakes that at the time of such request, he will be the sole
legal and beneficial owner of record with good, full and marketable title to the
Shares to be transferred to Mymetics by way of exchange and upon consummation of
such exchange, Mymetics will acquire from the Investor good and marketable title
to such Shares, free and clear of all liens, pledges, options, restrictions and
other encumbrances.

The request for exchange can be made at any time and shall be sent to Mymetics
by way of registered letter in the form annexed hereto with a copy to the
Company. Upon receipt of such letter, Mymetics will require the Company to
reflect in its share register the transfer of the Class B Shares to Mymetics and
will furthermore have Mymetics' transfer agent issue to the Investor a new stock
certificate representing the shares of Mymetics Common Stock held by the
Investor pursuant to the exchange.

As from the date of the exchange, all rights to the Class B Shares of the
Company, including all dividend rights, shall pass from the Investor to
Mymetics.

1.2. Warrant:

Mymetics furthermore agrees to grant to the Investor an irrevocable option to
subscribe to an additional number of 1,000,000 shares of Mymetics at a total
exercise price of US$ 100,000.

The Investor must exercise such right before June 30, 2004.

In order to entitle the Investor to exercise such right under the before stated
conditions, Mymetics undertakes to issue within a reasonable delay as from today
warrants allowing such subscription of 1,000,000 shares of common stock of
Mymetics, par value $0.01 per share by the Investor.

2. Further Assurances

Each party hereto shall do and perform or cause to be done and performed all
such further acts and things and shall execute and deliver all such other
agreements, certificates, instruments and documents as any other party hereto
may reasonably request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated
hereby.

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3. Notices

All notices, requests, claims, demands, reports and other communications
hereunder shall be in writing and shall be given or made (and shall be deemed to
have been duly given or made upon receipt) by delivery in person, by courier
service, by telecopy or e-mail, or by registered mail to the respective parties
at the following addresses (or at such other address for a party as shall be
specified in a notice given in writing to the Company) :

(a) if to MYMETICS :

MYMETICS CORPORATION
European Executive Office
65, route du Boiron
1260 Nyon
Switzerland
Tel : 011 41 22 363 13 10
Fax : 011 41 22 363 13 11

(b) if to the Investor :

[Investor's details]

(c) if to the Company :

6543 LUXEMBOURG S.A.
3, rue de la Chapelle
L-1325 LUXEMBOURG

Tel : 011 352 45 80 45 - 42
Fax : 011 352 45 45 89

4. Amendment and modification

No change or modification of this agreement shall be valid, binding or
enforceable unless the same shall be in writing and signed by all the Parties to
the present agreement.

5.Severability - Language

If any provision of this Agreement or the application thereof to any party or
circumstance shall be held invalid or unenforceable to any extent, the remainder
of this Agreement and the application of such provisions to the other parties or
circumstances shall not be affected thereby and shall be enforced to the
greatest extent permitted by applicable law.

In the event of any discrepancies or contradictions between this Agreement and
the Articles, this Agreement shall prevail to the extent permitted by law.

6. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of
the Grand Duchy of Luxembourg (the "Agreed Jurisdiction").

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7. Resolution of disputes

In the event of disagreement between the Parties to the present agreement or
between the Parties to the present agreement and the Company, every effort will
be made at all levels in order to have it resolved. If necessary, an
extraordinary general meeting of the Shareholders of the Company will be held.

In the event that the disagreement is not resolved after a period of 30 days,
any dispute, controversy or claim arising out of, relating to or in connection
with this Agreement (hereafter "Dispute") shall be submitted to and finally
settled by arbitration under and in accordance with the Rules of Conciliation
and Arbitration of the International Chamber of Commerce (the "Rules"). A party
wishing to submit a dispute to arbitration shall give written notice to such
effect to the other party/parties hereto. The parties shall have 30 calendar
days after the giving of such notice to designate the arbitrators for the
dispute. The party having started the arbitration procedure shall designate one
arbitrator and the other party/parties hereto shall designate one arbitrator.
The two designated arbitrators shall in turn choose a third arbitrator, who
shall also be the chairman of the panel. If one of the two parties appoints an
arbitrator but the other party fails to appoint its arbitrator within the 30-day
period specified above, then the appointment of such second arbitrator shall be
made by the President of the "Tribunal d'arrondissement de et a Luxembourg" upon
the request of the other party ; and if the appointed arbitrators shall fail to
appoint the third arbitrator within the 30 calendar days after the date of
appointment of the most recently appointed arbitrator, the third arbitrator
shall be appointed by the President of the "Tribunal d'arrondissement de et a
Luxembourg" upon the request of either party. The site of the arbitration shall
be Luxembourg, and the language to be used in the arbitration proceedings shall
be the English language. The decision of the arbitrators shall be rendered
within 90 calendar days from the appointment of the last arbitrator, and shall
be final and binding upon all parties.

8. Miscellaneous

8.1. Section headings are for convenience of reference only and shall not be
used to construe the meaning of any provision of this Agreement.

8.2. This Agreement may be executed in any number of counterparts, each of which
shall be an original, and all of which shall together constitute one agreement.

8.3 This Agreement is for the sole benefit of the parties hereto and their
permitted assigns and nothing herein, express or implied, is intended to or
shall confer upon any other person or entity any legal or equitable right,
benefit or remedy of any nature whatsoever under or by reason of this Agreement.

8. 4 This Agreement shall become effective as of the date of its signature.

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In witness whereof this Agreement was signed and executed by the Parties hereto
in Nyon on the date first written above.

MYMETICS CORP.                                       Investor

Christian Rochet                                     [Investor's name]
President and
Chief Executive Officer

Ernst Lubke
Chief Financial Officer

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Form of request for exchange

MYMETICS CORPORATION
European Executive Office
65, route du Boiron
1260 Nyon
Switzerland

Re: Share Exchange Agreement dated December 24, 2003

Dear Sirs,

I refer to the Share Exchange Agreement signed with your company on December 24,
2003.

I do inform you hereby that I want to exercise my right of exchange of my 800
Class B shares of the Luxembourg company 6543 LUXEMBOURG S.A., having its
registered office at L-1325 Luxembourg, 3, rue de la Chapelle against shares of
common stock of your company.

As a consequence, please instruct the company 6543 LUXEMBOURG S.A. to reflect in
its share register the transfer of my Class B Shares to Mymetics and furthermore
have your transfer agent issue to me a new stock certificate representing the
1,000,000 shares of Mymetics Common Stock held by me pursuant to this exchange.

Yours sincerely,

[Investor]

Copy: 6543 LUXEMBOURG S.A.

                                       84<PAGE>

                                                                     EXHIBIT 4.6

                               [FORM OF WARRANT]

THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR WITH ANY
STATE SECURITIES COMMISSION, AND MAY NOT BE TRANSFERRED OR DISPOSED OF BY THE
HOLDER IN THE ABSENCE OF A REGISTRATION STATEMENT WHICH IS EFFECTIVE UNDER THE
SECURITIES ACT AND APPLICABLE STATE LAWS AND RULES, OR, UNLESS, IMMEDIATELY
PRIOR TO THE TIME SET FOR TRANSFER, THE HOLDER PROVIDES A REASONABLY ACCEPTABLE
LEGAL OPINION TO THE COMPANY THAT SUCH TRANSFER MAY BE EFFECTED WITHOUT
VIOLATION OF THE SECURITIES ACT AND OTHER APPLICABLE STATE LAWS AND RULES.

                         SERVICEWARE TECHNOLOGIES, INC.

                                     WARRANT

Warrant No. 2004-50                                      Dated: January 30, 2004

         ServiceWare Technologies, Inc., a Delaware corporation (the "COMPANY"),
hereby certifies that, for value received, Winton Capital Holdings or its
registered assigns (including permitted transferees, the "HOLDER"), is entitled
to purchase from the Company up to a total of 97076.5 shares (as adjusted from
time to time as provided in Section 9) of Common Stock (as defined below) (each
such share, a "WARRANT SHARE" and all such shares, the "WARRANT SHARES") at an
exercise price equal to $0.72 per share (as adjusted from time to time as
provided in Section 9, the "EXERCISE PRICE"), at any time and from time to time
on or after the Original Issue Date through and including January 30, 2009 (the
"EXPIRATION DATE"), and subject to the following terms and conditions. This
Warrant is one of a series of similar warrants (the "WARRANTS") issued pursuant
to that certain Securities Purchase Agreement, dated as of the Original Issue
Date, by and among the Company, the Holder and certain other investors (the
"PURCHASE AGREEMENT"), providing for the issuance and sale of Common Stock and
Warrants by the Company to the Holder and such other investors.

         1. Definitions. The capitalized terms used herein and not otherwise
defined shall have the meanings set forth below:

                  "AFFILIATE" of any specified Person means any other person or
entity directly or indirectly controlling, controlled by or under direct or
indirect common control with such specified Person. For purposes of this
definition, "CONTROL" means the power to direct the management and policies of
such Person or firm, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise.

                  "COMMON STOCK" means the common stock of the Company, $0.01
par value per share, as constituted on the Original Issue Date.

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                  "COMPANY OFFER" means any tender offer (including exchange
offer), as amended from time to time, made by the Company or any of its
subsidiaries for the purchase (including the acquisition pursuant to an exchange
offer) of all or any portion of the outstanding shares of Common Stock, except
as permitted pursuant to Rule 10b-18 promulgated under the Exchange Act.

                  "ELIGIBLE MARKET" means any of the New York Stock Exchange,
the American Stock Exchange or Nasdaq.

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

                  "MARKET PRICE" shall mean

                  (i) if the principal trading market for such securities is an
exchange, the average of the last reported sale prices per share for the last
five previous Trading Days in which a sale was reported, as officially reported
on any consolidated tape,

                  (ii) if clause (i) is not applicable, the average of the
closing bid price per share for the last five previous Trading Days as set forth
by Nasdaq or on the OTC Bulletin Board, or

                  (iii) if clauses (i) and (ii) are not applicable, the average
of the closing bid price per share for the last five previous Trading Days as
set forth in the National Quotation Bureau sheet listing for such securities.

                  Notwithstanding the foregoing, if there is no reported sales
price or closing bid price, as the case may be, on any of the ten Trading Days
preceding the event requiring a determination of Market Price hereunder, then
the Market Price shall be determined in good faith by resolution of the Board of
Directors of the Company, based on the best information available to it.

                  "NASDAQ" means the Nasdaq SmallCap Market or Nasdaq National
Market.

                  "ORIGINAL ISSUE DATE" means January 30, 2004.

                  "OTHER SECURITIES" refers to any capital stock (other than
Common Stock) and other securities of the Company or any other Person which the
Holder of this Warrant at any time shall be entitled to receive, or shall have
received, upon the exercise of this Warrant, in lieu of or in addition to Common
Stock, or which at any time shall be issuable or shall have been issued in
exchange for or in replacement of Common Stock or Other Securities pursuant to
Section 9 hereof or otherwise.

                  "PERSON" means any court or other federal, state, local or
other governmental authority or other individual or corporation, partnership,
trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision
thereof) or other entity of any kind.

                  "REGISTRATION STATEMENT" shall have the meaning set forth in
the Purchase Agreement.

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                  "TRADING DAY" means (a) any day on which the Common Stock is
listed or quoted and traded on any Eligible Market or (b) if the Common Stock is
not then quoted and traded on any Eligible Market, then a day on which trading
occurs on the Nasdaq National Market (or any successor thereto).

                  "TRANSFER AGENT" shall mean American Stock Transfer & Trust
Company or such other Person as the Company may appoint from time to time.

                  "WARRANT SHARES" shall initially mean shares of Common Stock
and in addition may include Other Securities and Distributed Property (as
defined in Section 9(e)) issued or issuable from time to time upon exercise of
this Warrant.

         2. Registration of Warrant. The Company shall register this Warrant,
upon records to be maintained by the Company for that purpose (the "WARRANT
REGISTER"), in the name of the record Holder hereof from time to time. The
Company may deem and treat the registered Holder of this Warrant as the absolute
owner hereof for the purpose of any exercise hereof or any distribution to the
Holder, and for all other purposes, absent actual notice to the contrary.

         3. Registration of Transfers. The Company shall register the transfer
of any portion of this Warrant in the Warrant Register, upon surrender of this
Warrant, with the Form of Assignment attached hereto as Appendix A duly
completed and signed, to the Company at its address specified herein. Upon any
such registration and transfer, a new warrant in substantially the form of a
Warrant (any such new warrant, a "NEW WARRANT"), evidencing the portion of this
Warrant so transferred shall be issued to the transferee and a New Warrant
evidencing the remaining portion of this Warrant not so transferred, if any,
shall be issued to the transferring Holder. The acceptance of the New Warrant by
the transferee thereof shall be deemed the acceptance by such transferee of all
of the rights and obligations of a holder of a Warrant.

         4. Exercise and Duration of Warrant.

                  (a) This Warrant shall be exercisable by the registered Holder
at any time and from time to time on and after the Original Issue Date through
and including the Expiration Date. At 5:00 P.M., New York City time on the
Expiration Date, the portion of this Warrant not exercised prior thereto shall
be and become void and of no value.

                  (b) A Holder may exercise this Warrant by delivering to the
Company (i) an exercise notice, in the form attached hereto as Appendix B (the
"EXERCISE NOTICE"), appropriately completed and duly signed, and (ii) payment of
the Exercise Price for the number of Warrant Shares as to which this Warrant is
being exercised (as set forth in Section 4(c) below), and the date such items
are received by the Company is an "EXERCISE DATE." Execution and delivery of the
Exercise Notice 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.

                  (c) The Holder shall pay the Exercise Price (i) in cash or by
certified bank check payable to the order of the Company or (ii) if at any time
on or after the Original Issue Date (x) there is no effective Registration
Statement registering the resale of the Warrant Shares

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by the Holder and (y) the Market Price exceeds the Exercise Price, by means of a
"cashless exercise", by presenting and surrendering to the Company this Warrant,
in which event the Company shall issue to the Holder the number of Warrant
Shares determined as follows:

                              X = Y {(A-B)/A}

                              where:

                              X = the number of Warrant Shares to be issued to
                              the Holder.

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

                              A = the Market Price on the Exercise Date.

                              B = the Exercise Price

                  (d) If an exercise of this Warrant is to be made in connection
with a registered public offering or sale of the Company, such exercise may, at
the election of the Holder, be conditioned on the consummation of the public
offering or sale of the Company, in which case such exercise shall not be deemed
effective until the consummation of such transaction.

         5. Delivery of Warrant Shares.

                  (a) Upon exercise of this Warrant, the Company shall promptly
issue or cause to be issued and deliver or cause to be delivered to the Holder,
in such name or names as the Holder may designate, a certificate for the Warrant
Shares issuable upon such exercise bearing (only if such legend is required by
applicable law) the restrictive legend set forth in Section 4(j)(ii) of the
Purchase Agreement. The Holder, or any Person so designated by the Holder to
receive the Warrant Shares, shall be deemed to have become holder of record of
such Warrant Shares as of the Exercise Date.

                  (b) This Warrant is exercisable, either in its entirety or,
from time to time, for a portion of the number of Warrant Shares. Upon surrender
of this Warrant following one or more partial exercises, the Company shall issue
or cause to be issued, at its expense, a New Warrant evidencing the right to
purchase the remaining number of Warrant Shares.

         6. Charges, Taxes and Expenses. Issuance and delivery of certificates
for shares of Common Stock upon exercise of this Warrant shall be made without
charge to the Holder for any issue or transfer tax, withholding tax, transfer
agent fee or other incidental tax or expense in respect of the issuance of such
certificates, all of which taxes and expenses shall be paid by the Company;
provided, however, that the Company shall not be required to pay any tax which
may be payable in respect of any transfer involved in the registration of any
certificates for Warrant Shares or Warrant in a name other than that of the
Holder. The Holder shall be responsible for all other tax liability that may
arise as a result of holding or transferring this Warrant or receiving Warrant
Shares upon exercise hereof.

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         7. Replacement of Warrant. If this Warrant is mutilated, lost, stolen
or destroyed, the Company shall issue or cause to be issued in exchange and
substitution for and upon cancellation hereof, or in lieu of and in substitution
for this Warrant, a New Warrant, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction and customary and
reasonable indemnity, if requested.

         8. Reservation of Warrant Shares. The Company covenants that it will at
all times reserve and keep available out of the aggregate of its authorized but
unissued and otherwise unreserved Common Stock, solely for the purpose of
enabling it to issue Warrant Shares upon exercise of this Warrant as herein
provided, the number of Warrant Shares which are then issuable and deliverable
upon the exercise of this entire Warrant, free from all taxes, liens, claims,
encumbrances with respect to the issuance of such Warrant Shares and will not be
subject to any pre-emptive rights or similar rights (taking into account the
adjustments and restrictions of Section 9 hereof). The Company covenants that
all Warrant Shares so issuable and deliverable shall, upon issuance and the
payment of the applicable Exercise Price in accordance with the terms hereof, be
duly and validly authorized, issued, fully paid and nonassessable. The Company
will take all such action as may be necessary to assure that such shares of
Common Stock may be issued as provided herein without violation of any
applicable law or regulation, or of any requirements of any securities exchange
or automated quotation system upon which the Common Stock may be listed or
quoted, as the case may be.

         9. Certain Adjustments. The Exercise Price and number of Warrant Shares
issuable upon exercise of this Warrant are subject to adjustment from time to
time as set forth in this Section 9.

                  (a) Stock Dividends. If the Company, at any time while this
Warrant is outstanding, pays a dividend on its Common Stock payable in
additional shares of Common Stock or otherwise makes a distribution on any class
of capital stock that is payable in shares of Common Stock, then in each such
case the Exercise Price shall be multiplied by a fraction, (A) the numerator of
which shall be the number of shares of Common Stock outstanding immediately
prior to the opening of business on the day after the record date for the
determination of stockholders entitled to receive such dividend or distribution
and (B) the denominator of which shall be the number of shares of Common Stock
outstanding immediately after such event. Any adjustment made pursuant to this
Section 9(a) shall become effective immediately after the record date for the
determination of stockholders entitled to receive such dividend or distribution.

                  (b) Stock Splits. If the Company, at any time while this
Warrant is outstanding, (i) subdivides outstanding shares of Common Stock into a
larger number of shares, or (ii) combines outstanding shares of Common Stock
into a smaller number of shares, then in each such case the Exercise Price shall
be multiplied by a fraction, (A) the numerator of which shall be the number of
shares of Common Stock outstanding immediately before such event and (B) the
denominator of which shall be the number of shares of Common Stock outstanding
immediately after such event. Any adjustment pursuant to this Section 9(b) shall
become effective immediately after the effective date of such subdivision or
combination.

                  (c) Reclassifications. A reclassification of the Common Stock
(other than any

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such reclassification in connection with a merger or consolidation to which
Section 9(f) applies) into shares of any other class of stock shall be deemed:

                           (i) a distribution by the Company to the holders of
its Common Stock of such shares of such other class of stock for the purposes
and within the meaning of this Section 9; and

                           (ii) if the outstanding shares of Common Stock shall
be changed into a larger or smaller number of shares of Common Stock as part of
such reclassification, such change shall be deemed a subdivision or combination,
as the case may be, of the outstanding shares of Common Stock for the purposes
and within the meaning of Section 9(b).

                  (d) Self-Tender Offers. In the event, at any time or from time
to time after the Original Issue Date while the Warrants remain outstanding and
unexpired, in whole or in part, a Company Offer shall be made and expire, then
and in each such event the Exercise Price in effect immediately prior to close
of business on the date of the last time (the "EXPIRATION TIME") tenders could
have been made pursuant to such Company Offer shall be decreased by multiplying
such Exercise Price by a fraction (not to be greater than 1):

                           (i) the numerator of which shall be equal to (A) the
product of (1) the Market Price per share of the Common Stock on the date of the
Expiration Time and (2) the number of shares of Common Stock outstanding
(including any tendered shares) at the Expiration Time less (B) the fair market
value (as determined in good faith by the Board of Directors of the Company) of
the aggregate consideration payable to stockholders based on the acceptance (up
to any maximum specified in the terms of the Company Offer) of all shares
validly tendered and not withdrawn as of the Expiration Time (the shares deemed
so accepted, up to any maximum amount provided for in connection with such
Company Offer, being referred to as the "PURCHASED SHARES"); and

                           (ii) the denominator of which shall be equal to the
product of (A) the Market Price per share of the Common Stock on the date of the
Expiration Time and (B) the number of shares of Common Stock outstanding
(including any tendered shares) on the Expiration Time less the number of
Purchased Shares.

                  Any adjustment under this Section 9(d) shall become effective
immediately prior to the opening of business on the day after the Expiration
Time.

                  (e) Other Distributions. If the Company, at any time while
this Warrant is outstanding, distributes to holders of Common Stock (i)
evidences of its indebtedness, (ii) any security (other than a distribution of
Common Stock covered by Section 9(a)), (iii) rights or warrants to subscribe for
or purchase any security or (iv) any other asset (in each case, "DISTRIBUTED
PROPERTY"), then in each such case the Exercise Price in effect immediately
prior to the record date fixed for determination of stockholders entitled to
receive such distribution (and the Exercise Price thereafter applicable) shall
be adjusted (effective on and after such record date) to equal the product of
such Exercise Price multiplied by a fraction, (A) the numerator of which shall
be Market Price on such record date less the then fair market value per share of
the Distributed Property distributed in respect of one outstanding share of
Common Stock, which, if

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the Distributed Property is other than cash or marketable securities, shall be
as determined in good faith by the Board of Directors of the Company, and (B)
the denominator of which shall be the Market Price on such record date.

                  (f) Fundamental Transactions. If, at any time while this
Warrant is outstanding, (i) the Company effects any merger or consolidation of
the Company with or into another Person, (ii) the Company effects any sale of
all or substantially all of its assets in one or a series of related
transactions or (iii) there shall occur any merger of another Person into the
Company whereby the Common Stock is cancelled, converted or reclassified into or
exchanged for other securities, cash or property (in any such case, a
"FUNDAMENTAL TRANSACTION"), then, as a condition to the consummation of such
Fundamental Transaction, the Company shall (or, in the case of any Fundamental
Transaction in which the Company is not the surviving entity, the Company shall
take all reasonable steps to cause such other Person to) execute and deliver to
each Holder of Warrants a written instrument providing that:

                           (x) so long as any Warrant remains outstanding on
such terms and subject to such conditions as shall be nearly equivalent as may
be practicable to the provisions set forth in this Warrant, each Warrant, upon
the exercise thereof at any time on or after the consummation of such
Fundamental Transaction, shall be exercisable into, in lieu of Common Stock
issuable upon such exercise prior to such consummation, the securities or other
property (the "SUBSTITUTED PROPERTY") that would have been received in
connection with such Fundamental Transaction by a holder of the number of shares
of Common Stock into which such Warrant was exercisable immediately prior to
such Fundamental Transaction, assuming such holder of Common Stock:

                                    (A) is not a Person with which the Company
consolidated or into which the Company merged or which merged into the Company
or to which such sale or transfer was made, as the case may be (a "CONSTITUENT
PERSON"), or an Affiliate of a Constituent Person; and

                                    (B) failed to exercise such Holder's rights
of election, if any, as to the kind or amount of securities, cash and other
property receivable in connection with such Fundamental Transaction (provided,
however, that if the kind or amount of securities, cash or other property
receivable in connection with such Fundamental Transaction is not the same for
each share of Common Stock held immediately prior to such Fundamental
Transaction by a Person other than a Constituent Person or an Affiliate thereof
and in respect of which such rights of election shall not have been exercised (a
"NON-ELECTING SHARE"), then, for the purposes of this Section 9(f), the kind and
amount of securities, cash and other property receivable in connection with such
Fundamental Transaction by each Non-Electing Share shall be deemed to be the
kind and amount so receivable per share by a plurality of the Non-Electing
Shares); and

                           (y) the rights and obligations of the Company (or, in
the event of a transaction in which the Company is not the surviving Person,
such other Person) and the Holders in respect of Substituted Property shall be
as nearly equivalent as may be practicable to the rights and obligations of the
Company and Holders in respect of Common Stock hereunder.

                  Such written instrument shall provide for adjustments which,
for events

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<PAGE>

subsequent to the effective date of such written instrument, shall be as nearly
equivalent as may be practicable to the adjustments provided for in Section 9.
The above provisions of this Section 9(f) shall similarly apply to successive
Fundamental Transactions.

                   (g) Adjustment of Exercise Price. Simultaneously with any
adjustment to the Exercise Price pursuant to paragraphs (a) through (e) of this
Section 9, the number of Warrant Shares that may be purchased upon exercise of
this Warrant shall be increased or decreased proportionately, so that after such
adjustment the aggregate Exercise Price payable hereunder for the increased or
decreased number of Warrant Shares shall be the same as the aggregate Exercise
Price payable for the Warrant Shares immediately prior to such adjustment.

                  (h) Calculations. All calculations under this Section 9 shall
be made to the nearest cent or the nearest 1/100th of a share, as applicable.
The number of shares of Common Stock outstanding at any given time shall not
include shares owned or held by or for the account of the Company, and the
disposition of any such shares shall be considered an issue or sale of Common
Stock.

                  (i) Adjustments. Notwithstanding any provision of this Section
9, no adjustment of the Exercise Price shall be required if such adjustment is
less than $0.01; provided, however, that any adjustments which by reason of this
Section 9(i) are not required to be made shall be carried forward and taken into
account for purposes of any subsequent adjustment.

                  (j) Notice of Adjustments. Upon the occurrence of each
adjustment pursuant to this Section 9, the Company will promptly deliver to the
Holder a certificate executed by the Company's Chief Financial Officer setting
forth, in reasonable detail, the event requiring such adjustment and the method
by which such adjustment was calculated, the adjusted Exercise Price and the
adjusted number or type of Warrant Shares or other securities issuable upon
exercise of this Warrant (as applicable). The Company will retain at its office
copies of all such certificates and cause the same to be available for
inspection at said office during normal business hours by the Holder or any
prospective purchaser of the Warrant designated by the Holder.

                  (k) Notice of Corporate Events. If the Company (i) declares a
dividend or any other distribution of cash, securities or other property in
respect of its Common Stock, including, without limitation, any granting of
rights or warrants to subscribe for or purchase any capital stock of the Company
or any subsidiary of the Company, (ii) authorizes, approves, enters into any
agreement contemplating, or solicits stockholder approval for, any Fundamental
Transaction or (iii) authorizes the voluntary dissolution, liquidation or
winding up of the affairs of the Company, then the Company shall deliver to the
Holder a notice describing the material terms and conditions of such transaction
at least 15 calendar days prior to the applicable record or effective date on
which a Person would need to hold Common Stock in order to participate in or
vote with respect to such transaction, and the Company will take all steps
reasonably necessary in order to ensure that the Holder is given the practical
opportunity to exercise this Warrant prior to such time so as to participate in
or vote with respect to such transaction; provided, however, that the failure to
deliver such notice or any defect therein shall not affect the validity of the
corporate action required to be described in such notice.

         10. Fractional Shares. The Company shall not be required to issue or
cause to be

                                       8
<PAGE>

issued fractional Warrant Shares on the exercise of this Warrant. If any
fraction of a Warrant Share would, except for the provisions of this Section, be
issuable upon exercise of this Warrant, the Company shall make a cash payment to
the Holder equal to (a) such fraction multiplied by (b) the Market Price on the
Exercise Date of one full Warrant Share.

         11. Restricted Securities. The Holder represents and warrants that it
(i) understands that the Warrant and the Warrant Shares have not been registered
under the Securities Act and (ii) understands the restrictions set forth on the
legend printed on the face of this Warrant.

         12. Listing on Securities Exchanges. In furtherance and not in
limitation of any other provision of this Warrant, if the Company at any time
shall list any Common Stock on any Eligible Market, the Company will, at its
expense, simultaneously list the Warrant Shares (and maintain such listing) on
such Eligible Market, upon official notice of issuance following the exercise of
this Warrant; and the Company will so list, register and maintain such listing
on any Eligible Market any Other Securities, if and at the time that any
securities of like class or similar type shall be listed on such Eligible Market
by the Company.

         12. Remedies. The Company stipulates that the remedies at law of the
Holder of this Warrant in the event of any default or threatened default by the
Company in the performance of or compliance with any of the terms of this
Warrant are not and will not be adequate, and that such terms may be
specifically enforced by a decree for the specific performance of any agreement
contained herein or by an injunction against a violation of any of the terms
hereof or otherwise.

         13. Notices. Any and all notices or other communications or deliveries
hereunder (including without limitation any Exercise Notice) shall be in writing
and shall be mailed by certified mail, return receipt requested, or by a
nationally recognized courier service or delivered (in person or by facsimile),
against receipt to the party to whom such notice or other communication is to be
given. The address for such notices or communications shall be as set forth in
the Purchase Agreement entered into by the Holder and the Company. Any notice or
other communication given by means permitted by this Section 13 shall be deemed
given at the time of receipt thereof.

         14. Warrant Agent. The Company shall serve as warrant agent under this
Warrant. Upon 30 days' notice to the Holder, the Company may appoint a new
warrant agent. Any Person into which any new warrant agent may be merged, any
Person resulting from any consolidation to which any new warrant agent shall be
a party or any Person to which any new warrant agent transfers substantially all
of its corporate trust or shareholders services business shall be a successor
warrant agent under this Warrant without any further act. Any such successor
warrant agent shall promptly cause notice of its succession as warrant agent to
be mailed (by first class mail, postage prepaid) to the Holder at the Holder's
last address as shown on the Warrant Register.

         15. Miscellaneous. (a) The terms and conditions of this Warrant will
inure to the benefit of and be binding upon the respective successors and
permitted assigns of the parties. The Company shall not assign this Warrant or
any rights or obligations hereunder without the prior written consent of the
Holder, except to a successor in the event of a Fundamental

                                       9
<PAGE>

Transaction. This Warrant may be assigned by the Holder, provided that such
transfer is in compliance with the terms and provisions of this Warrant, Section
4(i) of the Purchase Agreement and permitted by federal and state securities
laws. This Warrant may be amended only in writing signed by the Company and the
Holder and their successors and assigns.

                  (b) The Company will not, by amendment of its governing
documents or through any reorganization, transfer of assets, consolidation,
merger, 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, but will at all times in good faith assist in the carrying out of all
such terms and in the taking of all such action as may be necessary or
appropriate in order to protect the rights of the Holder against impairment.
Without limiting the generality of the foregoing, the Company (i) will not
increase the par value of any Warrant Shares above the amount payable therefor
upon exercise thereof, (ii) will take all such action as may be reasonably
necessary or appropriate in order that the Company may validly and legally issue
fully paid and nonassessable Warrant Shares on the exercise of this Warrant,
free from all taxes, liens, claims and encumbrances and (iii) will not close its
shareholder books or records in any manner which interferes with the timely
exercise of this Warrant.

                  (c) This Warrant shall be governed by and construed and
enforced in accordance with the laws of the State of New York without regard to
conflicts of laws principles thereof. Each party hereby irrevocably submits to
the exclusive jurisdiction of the state and Federal courts sitting in the City
of New York, Borough of Manhattan, for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or
discussed herein (including with respect to the enforcement of the Purchase
Agreement), and hereby irrevocably waives, and agrees not to assert any suit,
action or proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such suit, action or proceeding is
improper. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner permitted by law. THE PARTIES HEREBY WAIVE ALL
RIGHTS TO A TRIAL BY JURY.

                  (d) Neither party shall be deemed in default of any provision
of this Warrant, to the extent that performance of its obligations or attempts
to cure a breach hereof are delayed or prevented by any event reasonably beyond
the control of such party, including, without limitation, war, hostilities, acts
of terrorism, revolution, riot, civil commotion, national emergency, strike,
lockout, unavailability of supplies, epidemic, fire, flood, earthquake, force of
nature, explosion, embargo, or any other Act of God, or any law, proclamation,
regulation, ordinance, or other act or order of any court, government or
governmental agency, provided that such party gives the other party written
notice thereof promptly upon discovery thereof and uses reasonable efforts to
cure or mitigate the delay or failure to perform.

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

                  (f) In case any one or more of the provisions of this Warrant
shall be deemed invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this Warrant shall not
in any way be affected or impaired thereby and the parties will attempt in good
faith to agree upon a valid and enforceable provision which shall be

                                       10
<PAGE>

a commercially reasonable substitute therefor, and upon so agreeing, shall
incorporate such substitute provision in this Warrant.

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

                                       11
<PAGE>

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

                                       SERVICEWARE TECHNOLOGIES, INC.

                                       By:______________________________________
                                          Name:
                                          Title:

<PAGE>

                                   APPENDIX A

                               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 ServiceWare
Technologies, Inc. to which the within warrant relates and appoints
__________________________ attorney to transfer said right on the books of
ServiceWare Technologies, Inc. with full power of substitution in the premises.

Dated:____________                      ________________________
                                        (Signature must conform in all respects
                                        to name of Holder as specified on face
                                        of the Warrant)

                                        Address of Transferee:
                                        ___________________

                                        ___________________

                                        ___________________

In the presence of:
___________________

<PAGE>

                                   APPENDIX B

                             FORM OF EXERCISE NOTICE

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

To:      ServiceWare Technologies, Inc.

The undersigned is the Holder of Warrant No. 2004-___ (the "Warrant") issued by
ServiceWare Technologies, Inc., a Delaware corporation (the "Company").
Capitalized terms used herein and not otherwise defined have the respective
meanings set forth in the Warrant.

1.       The Warrant is currently exercisable to purchase a total of _________
         Warrant Shares.

2.       The undersigned Holder hereby exercises its right to purchase
         _________________ Warrant Shares pursuant to the Warrant.

3.       The Holder intends that payment of the Exercise Price shall be made as
         (check one):

                  Cash Exercise_______

                  Cashless Exercise_______

4.       If the Holder has elected a Cash Exercise, the Holder shall pay the sum
         of $________ to the Company in accordance with the terms of the
         Warrant.

5.       If the Holder has elected a Cashless Exercise, a certificate shall be
         issued to the Holder for the number of shares equal to the whole number
         portion of the product of the calculation set forth below, which is
         _____ . The Company shall pay a cash adjustment in respect of the
         fractional portion of the product of the calculation set forth below in
         an amount equal to the product of the fractional portion of such
         product and the Market Price on the Exercise Day, which product is
         _____.

                  X = Y[(A-B)/A]

                  X = the number of Warrant Shares to be issued to the Holder.

                  Number of Warrant Shares being exercised:______________ ("Y").

                  Market Price on the Exercise Day:____________________("A").

                  Exercise Price:___________("B")

6.       Pursuant to this exercise, the Company shall deliver to the Holder
         Warrant Shares in accordance with the terms of the Warrant.

<PAGE>

7.       Following this exercise, the Warrant shall be exercisable to purchase a
         total of __________ Warrant Shares.

Dated: _________                         Name of Holder:

                                         (Print)________________________

                                         By:____________________________

                                         Name:__________________________

                                         Title:_________________________

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

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