Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Forge, Inc. - Exhibit 10.1

  

 

PURCHASE AGREEMENT AND PLAN OF REORGANIZATION  

BY AND AMONG 

CRYOTHERM, INC. 

 THE SELLING STOCKHOLDERS OF CRYOTHERM, INC. EXECUTING THIS
  AGREEMENT  

AND

 FORGE, INC.  

 

 

TABLE OF CONTENTS 

	 	 	Page
	 	 	 
	ARTICLE I - PLAN OF REORGANIZATION	1
	1.1	Plan of Reorganization	1
	1.2	Exchange of Stock	1
	 	 	 
	ARTICLE II - CLOSING	2
	2.1	Closing	2
	 	 	 
	ARTICLE III - REPRESENTATIONS AND WARRANTIES OF FORGE	2
	3.1	Organization and Qualification; Subsidiaries	2
	3.2	Articles of Incorporation and Bylaws	2
	3.3	Authority Relative to This Agreement	2
	3.4	No Conflict; Required Filings and Consents	3
	3.5	Compliance; Permits	3
	3.6	Present Capital Structure of Forge	3
	3.7	Financial Statements	3
	3.8	Commission Filings	4
	3.9	OTCBB	4
	3.10	State Takeover Statutes	4
	3.11	No Undisclosed Liabilities	4
	3.12	Absence of Certain Changes or Events	4
	3.13	Absence of Litigation	5
	3.14	Employee Benefit Plans	5
	3.15	Labor Matters	5
	3.16	Restrictions on Business Activities	5
	3.17	Title to Property	5
	3.18	Taxes	5
	3.19	Environmental Matters	5
	3.20	Intangible Assets	6
	3.21	Agreements, Contracts and Commitments	6
	3.22	Insurance	6
	3.23	Directors and Officers	7
	3.24	Transfer Agent	7
	3.25	Stock Transfer Records	7
	3.26	Corporate Record Books	7
	3.27	Related Party Transactions	7
	3.28	Lack of Disputes	7
	3.29	Board Approval	7
	3.30	Vote Required	7
	3.31	Disclosures	7
	 	 	
	ARTICLE IV - REPRESENTATIONS AND WARRANTIES OF CRYO	7
	4.1	Organization and Qualification	7
	4.2	Certificate of Incorporation and Bylaws	8
	4.3	Authority Relative to This Agreement	8
	4.4	No Conflict; Required Filings and Consents	8
	4.5	Compliance; Permits	8
	4.6	Capital Structure of CRYO	9
	4.7	Financial Statements	9
	4.8	No Undisclosed Liabilities	10
	4.9	Material Contracts and Transactions	10
	4.10	Litigation	11
	4.11	Labor Matters	11
	4.12	Restrictions on Business Activities	11
	4.13	Title to Property	11
	4.14	Taxes	11
	4.15	Environmental Matters	11

 

	4.16	Intellectual Property	12
	4.17	Directors and Officers	13
	4.18	Corporate Record Books	13
	4.19	Lack of Disputes	13
	4.20	Board Approval	13
	4.21	Vote Required	14
	4.22	Disclosures	14
	 	 	
	ARTICLE V - COVENANTS, REPRESENTATIONS AND	
	WARRANTIES OF THE SELLING STOCKHOLDERS	14
	 	 	 
	ARTICLE VI - CLOSING CONDITIONS	16
	6.1	Conditions Precedent to Closing by FORGE	16
	6.2	Conditions Precedent to Closing by CRYO	17
	 	 	 
	ARTICLE VII - ADDITIONAL COVENANTS OF THE PARTIES	19
	7.1	FORGE	19
	7.2	CRYO	19
	7.3	Access and Investigation	19
	7.4	Confidentiality	20
	7.5	Notification	20
	7.6	Exclusivity	20
	7.7	Conduct of CRYO Business Prior to Closing	20
	7.8	Certain Acts Prohibited - CRYO	20
	7.9	Certain Acts Prohibited - FORGE	21
	7.10	Public Announcements	21
	7.11	FORGE Board of Directors	21
	 	 	
	ARTICLE VIII - CLOSING DELIVERIES	21
	8.1	Closing Deliveries of CRYO and the Selling Stockholders	21
	8.2	Closing Deliveries of FORGE	22
	 	 	 
	ARTICLE IX - TERMINATION, AMENDMENT AND WAIVERS	23
	9.1	Termination	23
	9.2	Notice of Termination; Effect of Termination	23
	9.3	Fees and Expenses	23
	9.4	Amendment	23
	9.5	Waiver	23
	 	 	 
	ARTICLE X - GENERAL PROVISIONS	23
	10.1	Survival	23
	10.2	Notices	24
	10.3	Further Assurances	24
	10.4	Interpretation	24
	10.5	Counterparts	24
	10.6	Entire Agreement; Third Party Beneficiaries	25
	10.7	Severability	25
	10.8	Other Remedies; Specific Performance	25
	10.9	Governing Law	26

PURCHASE AGREEMENT AND PLAN OF REORGANIZATION 

      This Purchase Agreement and
  Plan of Reorganization is entered into as of this 28th day of July,
  2003 ("Agreement"), by and among Cryotherm, Inc., a Delaware corporation ("CRYO”),
  the undersigned Selling Stockholders of CRYO (the “Majority Selling Stockholders,”
  and together with the other Selling Stockholders who join as signatories to
  this Agreement after the date hereof as provided herein, the "Selling Stockholders")
  and FORGE, INC., a Delaware corporation ("FORGE"). 

 RECITALS 

      WHEREAS, the Selling Stockholders
  own beneficially and of record a minimum of 95% of the issued and outstanding
  shares of common stock, par value $.001 per share (the "CRYO Common Stock")
  of CRYO; 

      WHEREAS, FORGE desires to acquire
  a minimum of 95% and up to 100% of the issued and outstanding CRYO Common Stock,
  making CRYO a majority or wholly-owned subsidiary of FORGE and the Selling Stockholders
  desire to make a tax-free exchange of their CRYO Common Stock solely for shares
  of common stock, par value $.001 per share (the "FORGE Common Stock") of FORGE;
  and 

      WHEREAS, the parties intend,
  by entering into this Agreement, to adopt a plan of reorganization within the
  meaning of Section 368 of the Internal Revenue Code of 1986, as amended (the
  "Code"). 

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

 ARTICLE I  

  PLAN OF REORGANIZATION 

      1.1     Plan
  of Reorganization.     CRYO, the Selling Stockholders
  and FORGE agree that a minimum of Ninety Five (95%) and up to one hundred (100%)
  percent of the issued and outstanding Common Stock of CRYO (the “CRYO Common
  Stock”) shall be acquired by FORGE in a transaction qualifying as a tax-free
  stock-for-stock exchange pursuant to Section 368(a)(1)(B) of the Code in exchange
  solely for shares of FORGE Common Stock (the “Plan of Reorganization”).
  Immediately following the execution and delivery of this Agreement by FORGE,
  CRYO and the Majority Selling Stockholders, CRYO shall use its reasonable best
  efforts to cause the remaining stockholders of CRYO who have not signed this
  Agreement to execute and deliver a counterpart of this Agreement or to otherwise
  join in the provisions of this Agreement in a manner satisfactory in form and
  substance to FORGE and its counsel. 

      1.2     Exchange
  of Stock.      On closing of this Agreement and
  the Plan of Reorganization, each share of CRYO common stock held by each Selling
  Stockholder will be exchanged for 0.7037037 post-split shares of common stock
  of FORGE, such that the outstanding 27,000,000 shares of common stock of CYRO
  will be exchanged for 19,000,000 post-split shares of FORGE Common Stock if
  all stockholders of CRYO execute this Agreement. In addition, on closing of
  this Agreement and the Plan of Reorganization, the outstanding options and warrants
  to purchase 6,260,000 shares of CRYO will be exchanged for options or warrants,
  as applicable, to purchase 4,405,185 post-split shares of FORGE common stock
  at a price of $0.10 per post-split share. In addition, on closing of this Agreement
  and the Plan of Reorganization, the outstanding convertible notes made by CRYO
  in favor of Ken Rickel and Geoff Harris (the “CRYO Convertible Note Holders”)
  that are currently convertible into 2,740,000 shares of CRYO Common Stock, as
  described in Schedule 4.6 of this Agreement (the “CRYO Convertible Notes”),
  will be exchanged for convertible notes made by FORGE in favor of the CRYO Convertible
  Note Holders (the “FORGE Convertible Notes”). The FORGE Convertible
  Notes will be convertible into not more than 1,928,148 post-split shares of
  FORGE Common Stock. 

      The number of shares of FORGE
  Common Stock and the number of options, warrants, convertible notes and other
  rights to purchase FORGE Common Stock to be issued on closing are determined
  after giving effect to the 3 for 1 forward split of FORGE Common Stock as contemplated
  by this Agreement. A list 

- 1 -

 of the stockholders of CRYO Common Stock, how many shares
  they own, and the shares of FORGE Common Stock each is to receive if each stockholder
  executes this Agreement is attached hereto as Schedule 1.2. No certificates
  representing fractional FORGE shares shall be issued pursuant to this section.
  All shares certificates representing the shares of FORGE Common Stock to be
  issued on Closing will be endorsed with the following legend pursuant to the
  United States Securities Act of 1933 (the “Securities Act”):

   THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
    BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND HAVE BEEN
    ISSUED IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE
    ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE
    TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE APPLICABLE PROVISIONS OF
    THE ACT OR ARE EXEMPT FROM SUCH REGISTRATION.  

 ARTICLE II

  CLOSING  

      2.1     Closing.     The
  closing of the Plan of Reorganization (the "Closing") shall take place at 10:00
  A.M., Pacific time, on September 30, 2003, or at such other time and date as
  the parties shall agree in writing (the "Closing Date"), at the offices of O’Neill
  & Company, Suite 1880, Royal Centre, 1055 W. Georgia St., Vancouver, BC,
  Canada., or at such other place as the parties shall agree in writing. 

 ARTICLE III

  REPRESENTATIONS AND WARRANTIES

  OF FORGE 

      FORGE represents and warrants
  to CRYO and the Selling Stockholders as of the date hereof and as of the Closing
  Date as set forth in this Article III: 

      3.1     Organization
  and Qualification; Subsidiaries.     FORGE is duly
  incorporated, validly existing and in good standing under the laws of Delaware
  and has the requisite corporate power and authority to own, lease and operate
  its assets and properties and to carry on its business as it is now being conducted
  and as proposed to be conducted after the Closing. FORGE is in possession of
  all franchises, grants, authorizations, licenses, permits, easements, consents,
  certificates, approvals and orders necessary to own, lease and operate the properties
  it purports to own, operate or lease and to carry on its business as it is now
  being conducted. FORGE is duly qualified or licensed as a foreign corporation
  to do business, and is in good standing, in each jurisdiction where the character
  of the properties owned, leased or operated by it or the nature of its activities
  makes such qualification or licensing necessary. Except as set forth in Schedule
  3.1 to this Agreement, FORGE does not directly or indirectly own, or have the
  right or obligation to acquire, any equity or similar interest in, or any interest
  convertible or exchangeable or exercisable for, any equity or similar interest
  in, any corporation, partnership, limited liability company, joint venture or
  other business, association or entity. FORGE will prepare and deliver Schedule
  3.1 to CRYO by no later than August 15, 2003. 

      3.2     Articles
  of Incorporation and Bylaws.     FORGE has previously
  furnished to CRYO and the Selling Stockholders a complete and correct copy of
  its Certificate of Incorporation and Bylaws as amended to date. Such Certificate
  of Incorporation and Bylaws are in full force and effect. FORGE is not in violation
  of any of the provisions of its Certificate of Incorporation or Bylaws. 

      3.3     Authority
  Relative to This Agreement.     FORGE has all necessary
  corporate power and authority to execute and deliver this Agreement and to perform
  its obligations hereunder and, subject to obtaining the approval of this Agreement
  by the holders of a majority of the outstanding shares of FORGE Common Stock,
  to consummate the transactions contemplated hereby. The execution and delivery
  of this Agreement by FORGE and the consummation by FORGE of the transactions
  contemplated hereby have been duly and validly authorized by all necessary corporate
  action on the part of FORGE and no other 

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 corporate proceedings on the part of FORGE are necessary to
  authorize this Agreement or to consummate the transactions contemplated hereby
  (other than the approval of this Agreement by the holders of a majority of the
  outstanding shares of FORGE Common Stock, which FORGE shall use its best efforts
  to obtain prior to the Closing Date). This Agreement has been duly and validly
  executed and delivered by FORGE and, assuming the due authorization, execution
  and delivery by CRYO and the Selling Stockholders, constitutes a legal and binding
  obligation of FORGE, enforceable against FORGE in accordance with its terms.

      3.4     No
  Conflict; Required Filings and Consents.      (a)
  The execution and delivery of this Agreement by FORGE do not, and the performance
  of this Agreement by FORGE shall not, (i) conflict with or violate its Certificate
  of Incorporation or Bylaws, (ii) subject to obtaining the approval of this Agreement
  by the holders of a majority of the outstanding shares of FORGE Common Stock,
  conflict with or violate any law, rule, regulation, order, judgment or decree
  applicable to FORGE or by which it or any of its properties is bound or affected,
  or (iii) result in any breach of or constitute a default (or an event that with
  notice or lapse of time or both would become a default) under, or impair FORGE’s
  rights or alter the rights or obligations of any third party under, or give
  to others any rights of termination, amendment, acceleration or cancellation
  of, or result in the creation of a lien or encumbrance on any of the properties
  or assets of FORGE pursuant to, any note, bond, mortgage, indenture, contract,
  agreement, lease, license, permit, franchise or other instrument or obligation
  to which FORGE is a party or by which FORGE or any of its properties is bound
  or affected. 

      (b)     The
  execution and delivery of this Agreement by FORGE do not, and the performance
  of this Agreement by FORGE shall not, require any consent, approval, authorization
  or permit of, or filing with or notification to, any court, administrative agency,
  commission, or governmental or regulatory authority, domestic or foreign, except
  for applicable requirements, if any, of the Securities Act, the Securities Exchange
  Act of 1934, as amended (the "Exchange Act"), and state securities laws, other
  than those consents, approvals, authorizations, permits or filings which shall
  have been obtained by FORGE prior to the Closing. 

      3.5     Compliance;
  Permits.      (a) FORGE is not in conflict with,
  or in default or violation of, (i) any law, rule, regulation, order, judgment
  or decree applicable to FORGE or by which any of its properties is bound or
  affected, or (ii) any note, bond, mortgage, indenture, contract, agreement,
  lease, license, permit, franchise or other instrument or obligation to which
  FORGE is a party or by which FORGE or any of its properties is bound or affected.
  No investigation or review by any governmental or regulatory body or authority
  is pending or, to the knowledge of FORGE, threatened against FORGE, nor has
  any governmental or regulatory body or authority indicated an intention to conduct
  the same. 

      (b)     FORGE
  holds all permits, licenses, variances, exemptions, orders and approvals from
  governmental authorities which are necessary or desirable to the operation of
  the business of FORGE (collectively, the “FORGE Permits”). FORGE is
  in compliance in all respects with the terms of the FORGE Permits. Within five
  business days prior to the Closing Date FORGE shall furnish to CRYO a list of
  all FORGE Permits. 

      3.6     Present
  Capital Structure of FORGE.     The authorized
  capital stock of FORGE consists of 18,000,000 shares of FORGE Common Stock,
  of which 519,571 shares are issued and outstanding, and there are 2,000,000
  authorized shares of preferred stock of which none are issued. All of the issued
  and outstanding FORGE Common Stock has been duly authorized and validly issued,
  and is fully paid and non-assessable and was issued free of preemptive rights.
  Except for this Agreement and as set forth on Schedule 3.6, there are no outstanding
  options, warrants, conversion rights, preemptive rights or other rights to subscribe
  for, purchase or otherwise acquire any shares of FORGE Common Stock, or any
  obligation of FORGE to issue any shares of FORGE Common Stock. FORGE will prepare
  and deliver Schedule 3.6 to CRYO by no later than August 15, 2003. 

      3.7     Financial
  Statements     As of the date hereof and as of
  the Closing Date: 

      (a)     FORGE
  has filed with the SEC all financial statements that are required by the Commission
  (the “Financial Statements”). 

-3-

      (b)     All
  the Financial Statements are accurate and complete, and have been prepared in
  accordance with generally accepted accounting principles ("GAAP") consistently
  applied throughout the periods involved. As of the date of any of such Financial
  Statements, except to the extent reflected therein, FORGE did not have any liabilities
  or obligations (absolute or contingent) which should be reflected in a balance
  sheet or the notes thereto prepared in accordance with GAAP, and all assets
  reflected therein are properly reported and present fairly the value of the
  assets of FORGE in accordance with GAAP. Such statements of operations and comprehensive
  income present fairly the results of operations of FORGE for the periods indicated.
  Such statements of changes in shareholders' equity and cash flows present fairly
  the information, which should be presented therein in accordance with GAAP.
  As of the Closing Date, FORGE will have no liabilities other than those liabilities
  identified in the Financial Statements and liabilities incurred by FORGE in
  the ordinary course of business since the date of the Financial Statements.

      (c)     The
  financial and other books and records of FORGE are complete and correct and
  have been maintained in accordance with good business and accounting practices,
  and the Financial Statements can be reconciled with such books and records.
  All such books and records shall be made available to CRYO at Closing. 

      3.8     Commission
  Filings.      Since such date FORGE was first required
  to make (or has voluntarily made) such filings, FORGE has filed with the SEC
  all Annual Reports on Form 10-KSB, Quarterly Reports on Form 10-QSB, Current
  Reports on Form 8-K, proxy materials, registration statements and other reports
  and documents required to be filed by it pursuant to federal securities laws
  and has made all other filings with the SEC required to be made (collectively,
  the "FORGE Commission Filings"). FORGE has satisfied all requirements to be
  a "small business issuer" as defined pursuant to the Exchange Act. The FORGE
  Commission Filings, including all Financial Statements included therein, (i)
  were prepared in all material respects in accordance with the requirements of
  the Exchange Act and the rules and regulations there under, and the Securities
  Act and the rules and regulations there under, as the case may be, and (ii)
  did not (as of their respective filing dates, mailing dates or effective dates,
  as the case may be) contain any 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, in light of the circumstances under which they were
  made, not misleading. 

      3.9     OTCBB.     FORGE
  and, to the best of FORGE’s knowledge, its market makers, have complied
  with and are current with all applicable requirements for the FORGE Common Stock
  to be quoted on the OTC Bulletin Board ("OTCBB") under the symbol “FRGA”.
  Neither FORGE nor any of its market makers have received any notice, nor to
  their knowledge is it threatened, that at any time the FORGE Common Stock may
  no longer be eligible to be quoted on the OTCBB nor is FORGE aware of any basis
  to delist FORGE Common Stock from the OTCBB listing. 

      The shares of FORGE Common Stock
  issuable to the Selling Stockholders and the consultants pursuant to this Agreement,
  when issued, will be duly authorized and validly issued, fully paid and non
  assessable and free of any preemptive rights and will be quoted on the OTCBB.
  There has been no stop order issued by any regulatory authority including, without
  limitation, the NASD, the SEC or any state regulatory authority relating to
  FORGE or the FORGE Common Stock and FORGE has not received any notice of any
  investigation or other proceeding that could result in any stop order. 

      3.10     State
  Takeover Statutes.     FORGE and its Board of Directors
  have taken all action required to be taken in order to render inapplicable to
  this Agreement and the transactions contemplated hereby the provisions of all
  anti-takeover and related, affiliated or interested party transaction laws and
  regulations of any state. 

      3.11     No
  Undisclosed Liabilities.     FORGE does not have
  any liabilities (absolute, accrued, contingent or otherwise) except (i) liabilities
  provided for in FORGE’s Financial Statements, and (ii) liabilities incurred
  in the ordinary course of business since the date of the Financial Statements.

      3.12     Absence
  of Certain Changes or Events.      Since March
  31, 2003 no material change has occurred in the financial condition, assets,
  liabilities or business of FORGE. 

-4-

      3.13     Absence
  of Litigation.     There are no claims, actions,
  suits, investigations or proceedings pending or, to the knowledge of FORGE,
  threatened against FORGE or any properties or rights of FORGE or as to which
  FORGE has received any written notice or assertion, before any court, arbitrator
  or administrative, governmental or regulatory authority or body, domestic or
  foreign. 

      3.14     Employee
  Benefit Plans.     Except as set forth in Schedule
  3.14, FORGE is not a party to any oral or written (i) contract for the employment
  of any officer or employee; (ii) profit sharing, bonus, deferred compensation,
  pension or retirement plan, agreement or arrangement; (iii) collective bargaining
  agreement; or (iv) employee fringe or benefit plan, commitment or other arrangements
  (whether or not set forth in a written document and including, without limitation,
  all "employee benefit plans" within the meaning of Section 3(3) of the Employee
  Retirement Income Security Act of 1974, as amended ("ERISA"), that covers any
  active or former employee, director or consultant of FORGE, or with respect
  to which FORGE has or may in the future have liability. FORGE will prepare and
  deliver Schedule 3.14 to CRYO by no later than August 15, 2003. 

      3.15     Labor
  Matters.     There is no litigation pending or,
  to the knowledge of FORGE, threatened, between FORGE and any of its employees.
  FORGE is not a party to any collective bargaining agreement or other labor union
  contract applicable to persons employed by FORGE nor does FORGE know of any
  activities or proceedings of any labor union to organize any such employees.
  FORGE has no knowledge of any strikes, slowdowns, work stoppages or lockouts,
  or threats thereof, by or with respect to any employees of FORGE. 

      3.16     Restrictions
  on Business Activities.     There is no agreement,
  judgment, injunction, order or decree binding upon FORGE which has or could
  reasonably be expected to have the effect of prohibiting or impairing any business
  practice of FORGE, any FORGE of property by FORGE or the conduct of business
  by FORGE as currently conducted or as proposed to be conducted after the consummation
  of the transactions contemplated by this Agreement. 

      3.17     Title to
  Property.     FORGE owns no real property or any
  interest therein. 

      3.18     Taxes.     Effective
  as of Closing, FORGE will have timely filed all tax returns required to be filed
  by it, have paid all Taxes (as defined below) shown thereon to be due and have
  provided adequate accruals in all respects in accordance with GAAP in its financial
  statements for any Taxes that have not been paid, whether or not shown as being
  due on any returns. In addition, (i) no claim for unpaid Taxes that are currently,
  or will be prior to the Closing, due and payable has become a lien against the
  property of FORGE or is being asserted against FORGE, (ii) no audit of any Tax
  Return (as defined below) of FORGE is being conducted by a tax authority, (iii)
  no extension of the statute of limitations on the assessment of any Taxes has
  been granted by FORGE and is currently in effect and (iv) there is no agreement,
  contract or arrangement to which FORGE is a party that may result in the payment
  of any amount that would not be deductible pursuant to Sections 280G, 162(a)
  (by reason of being unreasonable in amount), 162(b) through (p) or 404 of the
  Code. As used herein, “Taxes” shall mean all taxes of any kind, including,
  without limitation, those on or measured by or referred to as income, gross
  receipts, sales, use, ad valorem, franchise, profits, license, withholding,
  payroll, employment, excise, severance, stamp, occupation, premium, value added,
  property or windfall profits taxes, customs, duties or similar fees, assessments
  or charges of any kind whatsoever, together with any interest and any penalties,
  additions to tax or additional amounts imposed by any governmental authority,
  domestic or foreign. As used herein, “Tax Return” shall mean any return,
  report or statement required to be filed with any governmental authority with
  respect to Taxes. 

      3.19     Environmental
  Matters.     FORGE (i) has obtained all applicable
  permits, licenses and other authorizations which are required under Federal,
  state or local laws relating to pollution or protection of the environment,
  including laws relating to emissions, discharges, releases or threatened releases
  of pollutants, contaminants, or hazardous or toxic materials or wastes into
  ambient air, surface water, ground water, or land or otherwise relating to the
  manufacture, processing, distribution, use, treatment, storage, disposal, transport,
  or handling of pollutants, contaminants or hazardous or toxic materials or wastes
  by FORGE (or its respective agents); (ii) is in material compliance with all
  terms and conditions of such required permits, licenses and authorizations,
  and also is in compliance with all other limitations, restrictions, conditions,
  standards, prohibitions, requirements, obligations, schedules and timetables
  contained in such laws or contained in any 

-5-

 regulation, code, plan, order, decree, judgment, notice or
  demand letter issued, entered, promulgated or approved there under; (iii) as
  of the date hereof, is not aware of nor has received notice of any event, condition,
  circumstance, activity, practice, incident, action or plan which is reasonably
  likely to interfere with or prevent continued compliance or which would give
  rise to any common law or statutory liability, or otherwise form the basis of
  any claim, action, suit or proceeding, based on or resulting from FORGE’s
  (or any of its respective agents) manufacture, processing, distribution, use,
  treatment, storage, disposal, transport, or handling, or the emission, discharge,
  or release into the environment, of any pollutant, contaminant, or hazardous
  or toxic material or waste; and (iv) has taken all actions necessary under applicable
  requirements of Federal, state or local laws, rules or regulations to register
  any products or materials required to be registered by FORGE (or any of its
  respective agents). 

      3.20     Intangible
  Assets.     FORGE has full rights to all patents
  and patent applications (pending or in the process of preparation), domestic
  or foreign, patent rights, trademarks, trade names and licenses under the patents
  of others, trade secrets, secret processes and other proprietary rights of every
  kind and nature used by FORGE at any time or necessary for use by FORGE in its
  business as presently conducted. None of the foregoing are owned or controlled
  in whole or in part directly or indirectly by any of FORGE’s officers,
  directors, employees, consultants or independent contractors. All such patents,
  patent applications, patent rights and licenses are valid and effective in accordance
  with their terms, and all such trade names, trade secrets, secret processes
  and other proprietary rights are valid and effective. The conduct of FORGE’s
  business or any other actions by FORGE has not and does not infringe upon the
  patents, trademarks, trade secrets, or copyrights or other intellectual property
  rights of any other party. FORGE has not received any notice of any claim of
  infringement. There are no agreements, contracts or obligations under which
  FORGE is obligated with respect to, or is using, any patents, patent applications,
  patent rights, trademarks, trade names, licenses under the patents of others,
  trade secrets, secret processes or other proprietary rights. Within five business
  days prior to the Closing Date FORGE shall furnish to CRYO a list of all patents,
  trademarks, trade secrets, copyrights, licenses and other intellectual property
  owned by FORGE. 

      3.21     Agreements,
  Contracts and Commitments.     FORGE is
  not a party to and is not bound by: 

      (a)     any
  agreement or plan, including, without limitation, any stock option plan, stock
  appreciation right plan or stock purchase plan, any of the benefits of which
  will be increased, or the vesting of benefits of which will be accelerated,
  by the occurrence of any of the transactions contemplated by this Agreement
  or the value of any of the benefits of which will be calculated on the basis
  of any of the transactions contemplated by this Agreement; 

      (b)     any
  agreement, contract or commitment containing any covenant limiting in any respect
  the right of FORGE to engage in any line of business or to compete with any
  person; or 

     (c) 	any agreement, contract or commitment currently in force relating to the disposition or FORGE by FORGE after the date of this Agreement of any assets not in the ordinary course of business or pursuant to which
FORGE has any material ownership interest in any corporation, partnership, limited liability company, joint venture or other business enterprise.

      FORGE is not and, to FORGE’s
  knowledge, no other party is in breach, violation or default under, and FORGE
  has not received written notice that it has breached, violated or defaulted
  under, any of the terms or conditions of any of the agreements, contracts or
  commitments to which FORGE is a party or by which any of its properties is bound
  or affected. 

      FORGE will prepare and deliver
  Schedule 3.21 to CRYO by no later than August 15, 2003 which will identify and
  list all agreements, contracts or commitments currently in effect or entered
  into within the last three years by FORGE. 

      3.22     Insurance.     FORGE
  has timely made all claims under all insurance policies and fidelity bonds.
  There is no claim by FORGE pending under any of such policies or bonds as to
  which coverage has been questioned, denied or disputed by the underwriters of
  such policies or bonds. Within five business days prior to the Closing Date
  FORGE shall furnish to CRYO copies of all FORGE insurance policies and fidelity
  bonds currently in effect or pursuant to which there are outstanding claims.

-6- 

      3.23     Directors
  and Officers.     FORGE has delivered to CRYO a
  complete list of the current Board of Directors and officers of FORGE. 

      3.24     Transfer
  Agent.     StockTrans, located at 44 West Ardmore,
  P.A. 19003 acts as FORGE's transfer agent. At closing, FORGE does not owe any
  money to StockTrans and FORGE is in compliance with all relative agreements.

      3.25     Stock
  Transfer Records.     The stock transfer books
  and stock ledgers of FORGE are in good order, complete, accurate, and up to
  date, and with all necessary signatures, and set forth all stock and securities
  issued, transferred and surrendered. No duplicate certificate has been issued
  at any time heretofore without an adequate indemnity agreement and/or bond being
  posted. No transfer has been made without surrender of the proper certificate
  duly endorsed. All certificates so surrendered have been duly canceled and are
  attached to the proper stubs with all necessary stock powers attached hereto.

      3.26     Corporate
  Record Books.     The corporate record books of
  FORGE are in reasonable order, accurate and complete, with all necessary signatures,
  and set forth all meetings and actions of Selling Stockholders or directors.

      3.27     Related
  Party Transactions.     Neither any officer nor
  any director or employee of FORGE, nor any spouse or child of any of them, has
  any direct or indirect interest in any competitor, supplier, customer or transfer
  agent or market maker for any securities of FORGE or in any person from whom
  or to whom FORGE leases any real or personal property, or in any other person
  with whom FORGE is doing business. 

      3.28     Lack
  of Disputes.     There is currently no dispute,
  pending or, to the knowledge of FORGE, threatened, anticipated or contemplated
  of any kind with any customer, supplier, source of financing, employee, landlord,
  or licensee of FORGE. 

      3.29     Board
  Approval.     The Board of Directors of FORGE has,
  as of the date of this Agreement, (i) approved, subject to stockholder approval,
  this Agreement and the transactions contemplated hereby, (ii) determined that
  this Agreement is in the best interests of the Selling Stockholders of FORGE
  and is on terms that are fair to such Selling Stockholders and (iii) recommended
  that the Selling Stockholders of FORGE approve this Agreement. 

      3.30     Vote
  Required.     The affirmative vote of the holders
  of a majority of the outstanding shares of FORGE Common Stock is the only vote
  of the holders of any class or series of FORGE’s capital stock necessary
  to approve this Agreement and the transactions contemplated hereby. 

      3.31     Disclosures.     None
  of the representations or warranties by FORGE in this Agreement and no statement
  contained in any certificate or other writing furnished by FORGE in connection
  herewith contains or will contain any untrue statement of a material fact or
  omits or will omit to state a material fact necessary in order to make the statements
  contained herein or therein not misleading. 

 ARTICLE IV

  REPRESENTATIONS AND WARRANTIES

  OF CRYO  

      CRYO represents and warrants
  to FORGE of the date hereof and as of the Closing Date as set forth in this
  Article IV: 

      4.1     Organization
  and Qualification.     CRYO was duly incorporated
  in January 2002 and is validly existing and in good standing under the laws
  of Delaware and has the requisite corporate power and authority to own, lease
  and operate its assets and properties and to carry on its business as it is
  now being conducted. CRYO is in possession of all franchises, grants, authorizations,
  licenses, permits, easements, consents, certificates, approvals and orders necessary
  to own, lease and operate the properties it purports to 

-7-

 own, operate or lease and to carry on its business as it is
  now being conducted. CRYO is duly qualified or licensed as a foreign corporation
  to do business, and is in good standing, in each jurisdiction where the character
  of the properties owned, leased or operated by it or the nature of its activities
  makes such qualification or licensing necessary. CRYO does not directly or indirectly
  own, or have the right or obligation to acquire, any equity or similar interest
  in, or any interest convertible or exchangeable or exercisable for, any equity
  or similar interest in, any corporation, partnership, limited liability company,
  joint venture or other business, association or entity. CRYO does not own any
  subsidiaries. 

      4.2     Certificate
  of Incorporation and Bylaws.     CRYO has previously
  furnished to FORGE a complete and correct copy of its Certificate of Incorporation
  and Bylaws as amended to date. Such Certificate of Incorporation and Bylaws
  are in full force and effect. CRYO is not in violation of any of the provisions
  of its Certificate of Incorporation or Bylaws. 

      4.3     Authority
  Relative to This Agreement.     CRYO has all necessary
  corporate power and authority to execute and deliver this Agreement and to perform
  its obligations hereunder and, subject to obtaining the approval of this Agreement
  by the holders the outstanding shares of CRYO Common Stock, to consummate the
  transactions contemplated hereby. The execution and delivery of this Agreement
  by CRYO and the consummation by CRYO of the transactions contemplated hereby
  have been duly and validly authorized by all necessary corporate action on the
  part of CRYO and no other corporate proceedings on the part of CRYO are necessary
  to authorize this Agreement or to consummate the transactions contemplated hereby
  (other than the approval of this Agreement by the holders of the outstanding
  shares of CRYO Common Stock, which CRYO shall use its best efforts to obtain
  prior to the Closing Date). This Agreement has been duly and validly executed
  and delivered by CRYO and the Majority Selling Stockholders and, assuming the
  due authorization, execution and delivery by FORGE and all of the Selling Stockholders,
  constitutes a legal and binding obligation of CRYO and the Selling Stockholders,
  enforceable against CRYO and the Selling Stockholders in accordance with its
  terms. 

      4.4     No
  Conflict; Required Filings and Consents.     (a)
  The execution and delivery of this Agreement by CRYO and the Selling Stockholders
  do not, and the performance of this Agreement by CRYO and the Selling Stockholders
  shall not, (i) conflict with or violate CRYO's Certificate of Incorporation
  or Bylaws, (ii) subject to obtaining the approval of this Agreement by the holders
  of a majority of the outstanding shares of CRYO Common Stock, conflict with
  or violate any law, rule, regulation, order, judgment or decree applicable to
  CRYO or by which it or any of its properties is bound or affected, or (iii)
  result in any breach of or constitute a default (or an event that with notice
  or lapse of time or both would become a default) under, or impair CRYO’s
  rights or alter the rights or obligations of any third party under, or give
  to others any rights of termination, amendment, acceleration or cancellation
  of, or result in the creation of a lien or encumbrance on any of the properties
  or assets of CRYO pursuant to, any note, bond, mortgage, indenture, contract,
  agreement, lease, license, permit, franchise or other instrument or obligation
  to which CRYO is a party or by which CRYO or any of its properties is bound
  or affected. 

      (b)     The
  execution and delivery of this Agreement by CRYO and the Selling Stockholders
  do not, and the performance of this Agreement by CRYO and the Selling Stockholders
  shall not, require any consent, approval, authorization or permit of, or filing
  with or notification to, any court, administrative agency, commission, or governmental
  or regulatory authority, domestic or foreign, required to be obtained by CRYO
  except for applicable requirements, if any, of the Securities Act, the Exchange
  Act, state securities laws, and the rules and regulations there under, and the
  rules and regulations of the Nasd, Inc. 

      4.5     Compliance;
  Permits.     (a) CRYO is not in conflict with,
  or in default or violation of, (i) any law, rule, regulation, order, judgment
  or decree applicable to CRYO or by which any of its properties is bound or affected,
  or (ii) any note, bond, mortgage, indenture, contract, agreement, lease, license,
  permit, franchise or other instrument or obligation to which CRYO is a party
  or by which CRYO or any of its properties is bound or affected. No investigation
  or review by any governmental or regulatory body or authority is pending or,
  to the knowledge of CRYO, threatened against CRYO, nor has any governmental
  or regulatory body or authority indicated an intention to conduct the same.

      (b)     CRYO
  holds all permits, licenses, variances, exemptions, orders and approvals from
  governmental authorities which are necessary or desirable to the operation of
  the business of CRYO 

-8-

 (collectively, the “CRYO Permits”). CRYO is in compliance
  in all respects with the terms of the CRYO Permits. 

      4.6     Capital
  Structure of CRYO.     The authorized capital
  stock of CRYO consists of 50,000,000 shares of CRYO Common Stock, of which 27,000,000
  shares are issued and outstanding. No other class of stock is authorized. There
  are currently outstanding options, warrants, convertible notes, including the
  CRYO Convertible Notes, and other rights to purchase or acquire an aggregate
  of 9,000,000 shares of CRYO Common Stock, of which the CRYO Convertible Notes
  entitle the holders to acquire not more than 2,740,000 shares of CRYO Common
  Stock upon conversion. CRYO will deliver to deliver Schedule 4.6 to FORGE by
  August 15, 2003 which will include a list of the holders of the outstanding
  common stock of CRYO and the holders of all outstanding options, warrants convertible
  notes, including the CRYO Convertible Notes, and rights to purchase CRYO Common
  Stock. CRYO will deliver to FORGE copies of all agreements, certificates and
  notes representing the outstanding options, warrants, convertible notes, including
  the CRYO Convertible Notes and other rights to purchase or acquire shares of
  CRYO Common Stock concurrently with the delivery of Schedule 4.6. Schedule 4.6
  will also include the respective number of shares, options, warrants convertible
  notes, including the CRYO Convertible Notes, or other rights held by each holder
  and the material terms of each option, warrant, convertible notes, including
  the CRYO Convertible Notes, and other rights to purchase or acquire shares of
  CRYO Common Stock. All of the issued and outstanding CRYO Common Stock has been
  duly authorized and validly issued, and is fully paid and non-assessable and
  was issued free of preemptive rights. All of the issued and outstanding shares
  of CRYO have been duly authorized, are validly issued, were not issued in violation
  of any preemptive rights and are fully paid and non-assessable, are not subject
  to preemptive rights and were issued in full compliance with all federal, state,
  and local laws, rules and regulations. Except for this Agreement and as set
  forth on Schedule 4.6, there are no outstanding options, warrants, conversion
  rights, preemptive rights or other rights to subscribe for, purchase or otherwise
  acquire any shares of CRYO Common Stock, or any obligation of CRYO to issue
  any shares of CRYO Common Stock. 

      4.7     Financial
  Statements.     (a) CRYO has delivered to FORGE
  a fully compiled balance sheet of CRYO as at May 31, 2003 and the related compiled
  profit and loss statement for the period from inception to May 31, 2003 (the
  “Unaudited CRYO Financial Statements”). Schedule 4.7 includes a copy
  of the Unaudited CRYO Financial Statements. 

      (b)     The
  Unaudited CRYO Financial Statements present fairly the financial condition,
  assets and liabilities of CRYO as of May 31 2003 and the results of operations
  for the period indicated, as required by and in accordance with GAAP. The Unaudited
  CRYO Financial Statements were prepared in accordance with GAAP consistently
  applied. Upon delivery in accordance with Section 6.1(c), the CRYO Financial
  Statements will present fairly the financial condition, assets and liabilities
  of CRYO as of the dates indicated and the results of operations for the periods
  indicated, as required by and in accordance with GAAP, and will have been prepared
  in accordance with GAAP consistently applied. As of the date of any of such
  financial statements, except to the extent reflected therein, CRYO did not and
  will not have any liabilities or obligations (absolute or contingent) which
  should be reflected in a balance sheet or the notes thereto prepared in accordance
  with GAAP, and all assets reflected therein are properly reported and present
  fairly the value of the assets of CRYO in accordance with GAAP. Such statements
  of operations and comprehensive income present fairly or will present fairly
  the results of operations of CRYO for the periods indicated. Such statements
  of changes in shareholders' equity and cash flows present or will present fairly
  the information, which should be presented therein in accordance with GAAP.
  As of the Closing Date, CRYO will have no liabilities other than those permitted
  by this Agreement. Each of these representations and warranties will apply to
  the CRYO Financial Statements upon delivery. 

      (c)     Schedule
  4.7 sets forth all material adverse changes in the financial condition, assets,
  liabilities or business of CRYO, including each out of the ordinary course of
  business increase to the liabilities of CRYO, and each increase paid, or agreed
  to, in the compensation, retirement benefits or other commitments to employees
  of CRYO since the date of the Unaudited CRYO Financial Statements. Since the
  date of the Unaudited CRYO Financial Statements and except as disclosed in Schedule
  4.7, there have been and will have been no material adverse changes in the financial
  condition, assets, liabilities or business of CRYO, nor any increase paid, or
  agreed to, in the compensation, retirement benefits or other commitments to
  employees of CRYO. Upon delivery of the CRYO Financial Statements in accordance
  with Section 6.1(c), 

-9-

 and except as disclosed in Schedule 4.7, there will have been
  no material adverse changes in the financial condition, assets, liabilities
  or business of CRYO, nor any increase paid, or agreed to, in the compensation,
  retirement benefits or other commitments to employees of CRYO since the date
  of the CRYO Financial Statements. 

      (d)     The
  financial and other books and records of CRYO are complete and correct and have
  been maintained in accordance with good business and accounting practices, and
  the CRYO Financial Statements can be reconciled with such books and records.
  The books, records and accounts of CRYO accurately and fairly reflect, in reasonable
  detail, the transactions, assets and liabilities of CRYO. CRYO has not engaged
  in any transaction, maintained any bank account or used any funds, except for
  transactions, bank accounts and funds which have been and are reflected in the
  normally maintained books and records of CRYO. All such books and records shall
  be made available to FORGE at Closing. 

      4.8     No
  Undisclosed Liabilities.     Except as disclosed
  in Schedule 4.7, the CRYO does not have any liabilities (absolute, accrued,
  contingent or otherwise) except (i) liabilities provided for in the Unaudited
  CRYO Financial Statements and the CRYO Financial Statements, (ii) liabilities
  incurred in the ordinary course of business, or (iii) banking, accounting, legal
  and printing fees associated with the transactions contemplated by this Agreement.

      4.9     Material
  Contracts and Transactions.     CRYO will prepare
  and deliver to FORGE by no later than August 15, 2003 a list of all material
  contracts, agreements, licenses, permits, arrangements, commitments, instruments,
  understandings or contracts, whether written or oral, express or implied, contingent,
  fixed or otherwise, to which CRYO is a party (collectively, the “Contracts”)
  which will be attached to this Agreement as Schedule 4.9. CRYO will deliver
  to FORGE copies of all material contracts, agreements, licenses, permits, arrangements,
  commitments, instruments, understandings or contracts concurrently with the
  delivery of Schedule 4.9. 

	(a)	Except as listed on Schedule 4.9, CRYO is not
      a party to any written or oral:
	 	 	 
	 	(1)	agreement for the purchase, sale or
        lease of any capital assets, or continuing contracts for the purchase
        or lease of any materials, supplies, equipment, real property or services;

	 	 	 
	 	(2)	agreement regarding, sales agency, distributorship, or the
      payment of commissions;
	 	 	 
	 	(3)	agreement for the employment or consultancy of any person
      or entity;
	 	 	 
	 	(4)	note, debenture, bond, trust agreement,
        letter of credit agreement loan agreement, or other contract or commitment
        for the borrowing or lending of money, or agreement or arrangement for
        a line of credit or guarantee, pledge, or undertaking of the indebtedness
        of any other person;

	 	 	 
	 	(5)	agreement, contract, or commitment for any charitable or
      political contribution;
	 	 	 
	 	(6)	agreement, contract, or commitment limiting
        or restraining CRYO, their business or any successor thereto from engaging
        or competing in any manner or in any business or from hiring any employees,
        nor is any employee of CRYO subject to any such agreement, contract, or
        commitment;

	 	 	 
	 	(7)	material agreement, contract, or commitment not made in the
      ordinary course of business;
	 	 	 
	 	(8)	agreement establishing or providing for any joint venture,
      partnership, or similar arrangement with any other person or entity;
	 	 	 
	 	(9)	agreement, contract or understanding containing a “change
      in control,” or similar provision; or

-10-

	 	(10)	power of attorney or similar authority to act. 

      (b)     Except
  as disclosed in Schedule 4.9 and Schedule 4.16, each Contract is in full force
  and effect, and there exists no material breach or violation of or default by
  CRYO under any Contract nor by any other party to a Contract, or any event that
  with notice or the lapse of time, or both, will create a material breach or
  violation thereof or default under any Contract by CRYO or by any other party
  to a Contract. The continuation, validity, and effectiveness of each Contract
  will in no way be affected by the consummation of the transactions contemplated
  by this Agreement. Except as listed on Schedule 4.9, there exists no actual
  or threatened termination, cancellation, or limitation of, or any amendment,
  modification, or change to any Contract. A true, correct and complete copy (and
  if oral, a description of material terms) of each Contract, as amended to date,
  has been or will be furnished to FORGE. 

       4.10     Litigation.     There
  are no claims, actions, suits, investigations or proceedings pending or, to
  the knowledge of CRYO, threatened against CRYO or any properties or rights of
  CRYO or as to which CRYO has received any written notice or assertion, before
  any court, arbitrator or administrative, governmental or regulatory authority
  or body, domestic or foreign. 

      4.11     Labor
  Matters.     There is no litigation pending or,
  to the knowledge of CRYO, threatened, between CRYO and any of its employees.
  As of the date of this Agreement, CRYO is not a party to any collective bargaining
  agreement or other labor union contract applicable to persons employed by CRYO
  nor does CRYO know of any activities or proceedings of any labor union to organize
  any such employees. As of the date of this Agreement, CRYO has no knowledge
  of any strikes, slowdowns, work stoppages or lockouts, or threats thereof, by
  or with respect to any employees of CRYO. 

      4.12     Restrictions
  on Business Activities.     There is no agreement,
  judgment, injunction, order or decree binding upon CRYO which has or could reasonably
  be expected to have the effect of prohibiting or impairing any business practice
  of CRYO, any acquisition of property by CRYO or the conduct of business by CRYO
  as currently conducted. 

      4.13     Title
  to Property.     CRYO has good title to all of
  its properties and assets, free and clear of all liens, charges and encumbrances;
  and all leases pursuant to which CRYO leases from others material amounts of
  real or personal property are in good standing, valid and effective in accordance
  with their respective terms, and there is not, under any of such leases, any
  existing default or event of default (or any event which with notice or lapse
  of time, or both, would constitute a default). All the plants, structures and
  equipment of CRYO are in good operating condition and repair. 

      4.14     Taxes.     Prior
  to the Closing, CRYO will have timely filed all tax returns required to be filed
  by it, have paid all Taxes shown thereon to be due and have provided adequate
  accruals in all respects in accordance with GAAP in its financial statements
  for any Taxes that have not been paid, whether or not shown as being due on
  any returns. In addition, (i) no claim for unpaid Taxes that are currently,
  or will be prior to the Closing, due and payable has become a lien against the
  property of CRYO or is being asserted against CRYO, (ii) no audit of any Tax
  Return of CRYO is being conducted by a tax authority, (iii) no extension of
  the statute of limitations on the assessment of any Taxes has been granted by
  CRYO and is currently in effect and (iv) there is no agreement, contract or
  arrangement to which CRYO is a party that may result in the payment of any amount
  that would not be deductible pursuant to Sections 280G, 162(a) (by reason of
  being unreasonable in amount), 162(b) through (p) or 404 of the Code. 

      4.15     Environmental
  Matters.     CRYO (i) has obtained all applicable
  permits, licenses and other authorizations which are required under Federal,
  state or local laws relating to pollution or protection of the environment,
  including laws relating to emissions, discharges, releases or threatened releases
  of pollutants, contaminants, or hazardous or toxic materials or wastes into
  ambient air, surface water, ground water, or land or otherwise relating to the
  manufacture, processing, distribution, use, treatment, storage, disposal, transport,
  or handling of pollutants, contaminants or hazardous or toxic materials or wastes
  by CRYO (or its respective agents); (ii) is in material compliance with all
  terms and conditions of such required permits, licenses and authorizations,
  and also is in compliance with all other limitations, restrictions, conditions,
  standards, prohibitions, requirements, obligations, schedules and timetables
  contained in such laws or contained in any 

-11-

 regulation, code, plan, order, decree, judgment, notice or
  demand letter issued, entered, promulgated or approved thereunder; (iii) as
  of the date hereof, is not aware of nor has received notice of any event, condition,
  circumstance, activity, practice, incident, action or plan which is reasonably
  likely to interfere with or prevent continued compliance or which would give
  rise to any common law or statutory liability, or otherwise form the basis of
  any claim, action, suit or proceeding, based on or resulting from CRYO’s
  (or any of its respective agents) manufacture, processing, distribution, use,
  treatment, storage, disposal, transport, or handling, or the emission, discharge,
  or release into the environment, of any pollutant, contaminant, or hazardous
  or toxic material or waste; and (iv) has taken all actions necessary under applicable
  requirements of Federal, state or local laws, rules or regulations to register
  any products or materials required to be registered by CRYO (or any of its respective
  agents). 

      4.16     Intellectual
  Property 

      (a)     Intellectual
  Property Assets. The Intellectual Property Assets are all those necessary
  for the operation of the business of CRYO as it is currently conducted. The
  term “Intellectual Property Assets” includes: 

	 	(1)
   	the name “Cryotherm”, all
        functional business names, trading names, registered and unregistered
        trademarks, service marks, and applications collectively, “Marks”);

	 	 	 
	 	(2)
   	all patents, patent applications, and
        inventions, methods, processes and discoveries that may be patentable
        (collectively, “Patents”);

	 	 	 
	 	(3)	all copyrights in both published works
        and unpublished works (collectively, “Copyrights”);

	 	 	 
	 	(4)
   	all know-how, trade secrets, confidential
        information, customer lists, software, technical information, data, process
        technology, plans, drawings, and blue prints owned, used, or licensed
        by CRYO as licensee or licensor (collectively, “Trade Secrets”).

      (b)     Agreements.     Schedule
  4.16 contains a complete and accurate list and summary description, including
  any royalties paid or received by CRYO, of all contracts and agreements relating
  to the Intellectual Property Assets to which CRYO is a party or by which CRYO
  is bound, except for any license implied by the sale of a product and perpetual,
  paid-up licenses for commonly available software programs with a value of less
  than $500 under which CRYO is the licensee. There are no outstanding or threatened
  disputes or disagreements with respect to any such agreement. 

      (c)     Intellectual
  Property and Know-How Necessary for the Business.     Except
  as set forth in Schedule 4.16, CRYO is the owner of all right, title, and interest
  in and to each of the Intellectual Property Assets, free and clear of all liens,
  security interests, charges, encumbrances, and other adverse claims, and has
  the right to use without payment to a third party of all the Intellectual Property
  Assets. Except as set forth in Schedule 4.16, all former and current employees
  and contractors of CRYO have executed written contracts, agreements or other
  undertakings with CRYO that assign all rights to any inventions, improvements,
  discoveries, or information relating to the business of CRYO. No employee, director,
  officer or shareholder of any of CRYO owns directly or indirectly in whole or
  in part, any Intellectual Property Asset which CRYO is presently using or which
  is necessary for the conduct of its business. No employee or contractor of CRYO
  has entered into any contract or agreement that restricts or limits in any way
  the scope or type of work in which the employee may be engaged or requires the
  employee to transfer, assign, or disclose information concerning his work to
  anyone other than CRYO. 

      (d)     Patents.     Schedule
  4.16 contains a complete and accurate list and summary description of all Patents.
  CRYO is the licensee of the Patents set forth in Schedule 4.16 on the terms
  and conditions of the license agreements referenced in Schedule 4.16 To the
  knowledge of CRYO and its officers and directors, the owners of the Patents
  set forth in Schedule 4.16 are the owners of all right, title, and interest
  in and to each of the Patents, free and clear of all liens, security interests,
  charges, encumbrances, and other adverse claims. To the knowledge of CRYO and
  its officers and directors, all of the 

-12-

 issued Patents are currently in compliance with formal legal
  requirements (including payment of filing, examination, and maintenance fees
  and proofs of working or use), are valid and enforceable, and are not subject
  to any maintenance fees or taxes or actions falling, due within ninety days
  after the Closing Date. To the knowledge of CRYO and its officers and directors,
  no Patent has been or is now involved in any interference, reissue, reexamination,
  or opposition proceeding. To the knowledge of CRYO and its officers and directors,
  there is no potentially interfering patent or patent application of any third
  party. To the knowledge of CRYO and its officers and directors, no Patent is
  infringed or has been challenged or threatened in any way. To the knowledge
  of CRYO and its officers and directors, none of the products manufactured and
  sold, nor any process or know-how used, by CRYO infringe or is alleged to infringe
  any patent or other proprietary night of any other person or entity. To the
  knowledge of CRYO and its officers and directors, all products made, used, or
  sold under the Patents have been marked with the proper patent notice. 

      (e)     Trademarks.     Schedule
  4.16 contains a complete and accurate list and summary description of all Marks
  and the jurisdiction where the Mark is registered, if applicable. CRYO is the
  owner of all right, title, and interest in and to each of the Marks, free and
  clear of all liens, security interests, charges. encumbrances, and other adverse
  claims. All Marks that have been registered with the United States Patent and
  Trademark Office or any other country's trademark registration office are currently
  in compliance with all formal legal requirements (including the timely post-registration
  filing of affidavits of use and incontestability and renewal applications),
  are valid and enforceable, and are not subject to any maintenance fees or taxes
  or actions falling due within ninety days after the Effective Time. No Mark
  has been or is now involved in any opposition, invalidation, or cancellation
  and no such action is threatened with the respect to any of the Marks. There
  is no potentially interfering trademark or trademark application of any third
  party. No Mark is infringed or has been challenged or threatened in any way.
  None of the Marks used by CRYO infringes or is alleged to infringe any trade
  name, trademark, or service mark of any third party. All products and materials
  containing a Mark bear the proper federal or other registration notice where
  permitted by law. 

      (f)     Copyrights.     Schedule
  4.16 contains a complete and accurate list and summary description of all Copyrights.
  CRYO is the owner of all right, title, and interest in and to each of the Copyrights,
  free and clear of all liens, security interests, charges, encumbrances, and
  other adverse claims. CRYO has not taken any steps to register any Copyrights.

      (g)     Trade
  Secrets.     CRYO has taken all reasonable precautions
  to protect the secrecy, confidentiality, and value of its Trade Secrets. CRYO
  has good title and an absolute (but not necessarily exclusive) right to use
  the Trade Secrets. The Trade Secrets are not part of the public knowledge or
  literature, and have not been used, divulged, or appropriated either for the
  benefit of any person or entity or to the detriment of CRYO. No Trade Secret
  is subject to any adverse claim or has been challenged or threatened in any
  way. 

      4.17     Directors
  and Officers.     CRYO has delivered to FORGE a
  complete list of the current Board of Directors and officers of CRYO. 

      4.18     Corporate
  Record Books.     The corporate record books of
  CRYO are, or immediately prior to the Closing Date will be, in good order, complete,
  accurate, up to date, with all necessary signatures, and set forth all meetings
  and actions set forth in all certificates of votes of Selling Stockholders or
  directors furnished to anyone at any time. 

      4.19     Lack
  of Disputes.     There is currently no dispute,
  pending or, to the knowledge of CRYO, threatened, anticipated or contemplated
  of any kind with any customer, supplier, source of financing, employee, landlord,
  or licensee of CRYO. 

      4.20     Board
  Approval.     The Board of Directors of CRYO has,
  as of the date of this Agreement, (i) approved, subject to stockholder approval,
  this Agreement and the transactions contemplated hereby, (ii) determined that
  this Agreement is in the best interests of the Selling Stockholders of CRYO
  and is on terms that are fair to such Selling Stockholders and (iii) recommended
  that the Selling Stockholders of CRYO approve this Agreement. 

-13-

      4.21     Vote
  Required.     The affirmative vote or consent of
  the holders of the outstanding shares of CRYO Common Stock is the only vote
  of the holders of any class or series of CRYO’s capital stock necessary
  to approve this Agreement and the transactions contemplated hereby. 

      4.22     Disclosures.     None
  of the representations or warranties by CRYO in this Agreement and no statement
  contained in any certificate or other writing furnished by CRYO in connection
  herewith contains or will contain any untrue statement of a material fact or
  omits or will omit to state a material fact necessary in order to make the statements
  contained herein or therein not misleading. 

 ARTICLE V.

  COVENANTS, REPRESENTATIONS AND WARRANTIES

  OF THE SELLING STOCKHOLDERS 

      The Selling Stockholders each
  severally covenants with and represents and warrants to FORGE as follows, and
  acknowledges that FORGE is relying upon such covenants, representations and
  warranties in connection with the purchase by FORGE of the CRYO Shares: 

      5.1     The
  shares of CRYO Common Stock owned by the Selling Stockholders are owned by them
  as the recorded owners with a good and marketable title thereto, free and clear
  of all mortgages, liens, charges, security interests, adverse claims, pledges,
  encumbrances and demands whatsoever and the Selling Stockholders have all necessary
  power and authority to deal with shares of CRYO Common Stock in accordance with
  this Agreement. 

      5.2     No
  person, firm or corporation has any agreement or option or any right or privilege
  (whether by law, pre-emptive or contractual) capable of becoming an agreement
  or option for the purchase from the Selling Stockholders of any of shares of
  CRYO Common Stock held by them. 

      5.3     This
  agreement has been duly authorized, validly executed and delivered by each Selling
  stockholder. 

      5.4     The
  Selling Stockholder is an investor in securities of companies in the development
  stage and acknowledges that it is able to fend for itself, can bear the economic
  risk of its investment, and has such knowledge and experience in financial or
  business matters such that it is capable of evaluating the merits and risks
  of the investment in the FORGE Common Stock. The Selling Stockholder can bear
  the economic risk of this investment, and was not organized for the purpose
  of acquiring its shares of CRYO Common Stock . 

      5.5     The
  Selling Stockholder believes it has received all the information it considers
  necessary or appropriate for deciding whether to execute this Agreement, including
  a copy of the FORGE Commission Filings. The Selling Stockholder further represents
  that it has had an opportunity to ask questions and receive answers from FORGE
  regarding the terms and conditions of the Plan of Reorganization and the business,
  properties, prospects and financial condition of FORGE. The Selling Stockholder
  has had full opportunity to discuss this information with the Selling Stockholder’s
  legal and financial advisers prior to execution of this Agreement. 

      5.6.     The
  Selling Stockholder acknowledges that the Plan of Reorganization has not been
  reviewed by the SEC and that the shares of FORGE Common Stock will be issued
  pursuant to an exemption from registration under the Securities Act. 

      5.7     The
  Selling Stockholders understands that the shares of FORGE Common Stock it will
  be issued will be characterized as "restricted securities" under the federal
  securities laws inasmuch as they are being acquired in a transaction not involving
  a public offering and that under such laws and applicable regulations such securities
  may be resold without registration under the Securities Act only in certain
  limited circumstances. In this connection, the Selling Stockholder represents
  that it is familiar with SEC Rule 144, as presently in effect, and understands
  the resale limitations imposed thereby and by the Securities Act. 

-14-

      5.8     The
  FORGE Common Stock will be acquired by the Selling Stockholder for investment
  for the Selling Stockholder's own account, not as a nominee or agent, and not
  with a view to the resale or distribution of any part thereof, and that the
  Selling Stockholder has no present intention of selling, granting any participation
  in, or otherwise distributing the same. The Selling Stockholder does not have
  any contract, undertaking, agreement or arrangement with any person to sell,
  transfer or grant participations to such person or to any third person, with
  respect to any of the share of FORGE Common Stock to be issued on Closing. 

      5.9     An
  investment in FORGE is highly speculative and the Selling Stockholder is financially
  able to bear the economic risks of an investment in the Company. 

      5.10   The Selling
  Stockholder recognizes that an investment in the FORGE Common Stock involves
  a high degree of risk in that FORGE is in the early stages of development of
  its business and will require substantial funds in order to complete its business
  plan of operations. 

      5.11   The Selling
  Stockholder is an “Accredited Investor” as defined by Rule 501 of
  Regulation D of the 1933 Act by virtue of satisfying one or more of the following
  categories (please place an "X" on each appropriate box): 

	 	Category 1.     Any director or executive
        officer of FORGE; 

       Category 2.     Any
        natural person whose individual net worth, or joint net worth with that
        person's spouse, at the time of his or her purchase, exceeds $1,000,000;
      

       Category 3.     Any
        natural person who had an individual income in excess of $200,000 in each
        of the two most recent years or joint income with that person's spouse
        in excess of $300,000 in each of those years and has a reasonable expectation
        of reaching that same income level in the current year; 

       Category 4.     Any
        organization described in Section 501(c)(3) of the Internal Revenue Code,
        corporation, Massachusetts or similar business trust, or partnership,
        not formed for the specific purpose of acquiring the securities offered,
        with total assets in excess of $5,000,000; 

       Category 5.     Any
        private business development company as defined in Section 202(a)(22)
        of the Investment Advisers Act of 1940;

      Category 6.     Any bank
        as defined in Section 3(a)(2) of the 1933 Act, or any savings and
        loan association or other institution as defined in Section 3(a)(5)A of
        the 1933 Act whether acting in its individual or fiduciary capacity;
        any broker or dealer registered pursuant to Section 15 of the 1934 Act;
        any insurance company as defined in Section 2(13) of the 1933 Act;
        any investment company registered under the Investment Company Act
        of 1940 or a business development company as defined in Section 2(a)(48)
        of the 1933 Act; any Small Business Investment Company licensed
        by the U.S. Small Business Administration under Section 301(c) or (d)
        of the Small Business Act of 1958; any plan established and maintained
        by a state, its political subdivisions, or any agency or instrumentality
        of a state or its political subdivision, for the benefit of its employees
        if such plan has total assets in excess of $5,000,000; and an employee
        benefit plan within the meaning of Title I of the Employee Retirement
        Income Security Act of 1974 if the investment decision is made by
        a plan fiduciary, as defined in Section 3(21) of said Act, which is either
        a bank, savings and loan association, insurance company, or registered
        investment advisor, or if the employee benefit plan has total assets in
        excess of $5,000,000, or, if a self-directed plan, with investment decisions
        made solely by persons that are accredited investors; 

       Category 7.     Any trust, with total
        assets in excess of $5,000,000, not formed for the specific purpose of
        acquiring the securities offered, whose purchase is directed by a sophisticated
        person as described in Section 230.506(b)(2)(ii) of Regulation D under
        the 1933 Act; 

-15-

	 	Category 8.     Any
        self-directed employee benefit plan with investment decisions made solely
        by persons that are accredited investors within the meaning of Rule 501
        of Regulation D promulgated under the 1933 Act; or 

       Category 9.     Any entity in which
        all of the equity owners are accredited investors; 

ARTICLE VI

  CLOSING CONDITIONS 

      6.1     Conditions
  Precedent to Closing by FORGE .     The obligation
  of FORGE to consummate the Plan of Reorganization is subject to the satisfaction
  of the conditions set forth below, unless any such condition is waived FORGE
  at the Closing. The Closing of the Plan of Reorganization will be deemed to
  mean a waiver of all conditions to Closing. 

      (a)     Representations
  and Warranties.     The representations and warranties
  of CRYO set forth in this Agreement will be true, correct and complete in all
  respects as of the Closing Date, as though made on and as of the Closing Date
  and CRYO will have delivered to FORGE a certificate dated as of the Closing
  Date, to the effect that the representations and warranties made by CRYO in
  this Agreement are true and correct. 

      (b)     Performance.     All
  of the covenants and obligations that CRYO is required to perform or to comply
  with pursuant to this Agreement at or prior to the Closing must have been performed
  and complied with in all material respects. 

      (c)     Financial
  Statements.     CRYO will have delivered to FORGE
  by August 31, 2003 all financial statements of CRYO required to be filed by
  FORGE with the Securities and Exchange Commission under the Securities Exchange
  Act of 1934 as a consequence of the completion of the Plan or Reorganization
  (the “CRYO Financial Statements”), including, without limitation:

	 	(i) 	audited financial statements for the year ended December
      31, 2002;
	 	 	 
	 	(ii)	interim unaudited financial statements for the six months
      ended June 30, 2003;
	 	 	 
	 	(iii)	the information necessary to enable FORGE to complete the
      pro-forma financial statements required by Form 8-K.

The CRYO Financial Statements will not disclose or report any
  material adverse change to the business, financial condition, assets or liabilities
  of CRYO from the Unaudited Financial Statements, except those changes previously
  disclosed in the Schedules attached to this Agreement.

     (d)     Third
  Party Consents.     CRYO will have received duly
  executed copies of all third-party consents and approvals contemplated by the
  Plan of Reorganization, in form and substance reasonably satisfactory to FORGE.

     (e)     No
  Material Adverse Change.     No event will have
  occurred since the date of this Agreement that has had a material adverse effect
  on the business, operations, assets, properties, prospects or conditions of
  CRYO taken as a whole.

     (f)     No
  Action.     No suit, action, or proceeding will
  be pending or threatened before any governmental or regulatory authority wherein
  an unfavorable judgment, order, decree, stipulation, injunction or charge would
  (i) prevent the consummation of any of the transactions contemplated by this
  Agreement, or (ii) cause the transactions to be rescinded following consummation.

     (g)    Due
  Diligence Review.     FORGE will be reasonably
  satisfied in all respects with their due diligence investigation and review
  of CRYO.

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      (h)     Selling
  Stockholders.     Selling Stockholders holding
  more than 95% of the outstanding shares of the common stock of CRYO will have
  executed this Agreement. 

      (i)     Assets
  and Liabilities of CRYO.     The assets of CRYO
  will be not less than $100,000 US and the liabilities of CRYO will be not more
  than $1,050,000 US as of the Closing, including the CRYO Convertible Notes,
  exclusive of liabilities incurred by CRYO in the ordinary course of business
  subsequent to May 31, 2003. 

      (j)      Corporate
  Approvals.     CRYO will have taken all necessary
  corporate action and obtained all necessary approvals, including directors’,
  shareholders’ and applicable regulatory approvals, to the Plan of Reorganization.

      (k)     Compliance
  with Securities Laws.     FORGE will have received
  evidence satisfactory to FORGE in its discretion that the Plan of Reorganization
  and all shares of FORGE Common Stock issuable in the Plan of Reorganization
  comply with all applicable securities laws. 

      (l)      Options.     The
  holders of the outstanding options to purchase 6,260,000 shares of CRYO Common
  Stock will have agreed to exchange their options for options to purchase shares
  of FORGE Common Stock, on the basis of 0.7037037 FORGE options for each CRYO
  option, at an exercise of $0.10 per post-split share, such that there will be
  options to purchase 4,405,185 post-split shares of FORGE common stock upon completion
  of the Plan of Reorganization. This agreement may be express or implied as a
  result of the terms and conditions of the option agreement between CRYO and
  the optionee. 

      (m)     Schedules.     CRYO
  will have delivered FORGE on or before August 15, 2003 all Schedules required
  to be delivered by CRYO to FORGE under this Agreement after execution, including
  Schedule 4.6 and Schedule 4.9, and all information set forth in each schedule
  and delivered in connection with each schedule will be satisfactory to FORGE
  in its discretion. 

      (n)     Board
  Composition.     The composition of the board of
  directors of FORGE will be in accordance with Section 7.11 on Closing. 

      (o)     Convertible
  Note Assumption.     The CRYO Convertible Note
  Holders will have agreed to accept the FORGE Convertible Notes in exchange for
  the CRYO Convertible Notes on closing. 

      6.2     Conditions
  Precedent to Closing by CRYO.     The obligation
  of CRYO to consummate the Plan of Reorganization is subject to the satisfaction
  of the conditions set forth below, unless such condition is waived by CRYO at
  the Closing. The Closing of the Plan of Reorganization will be deemed to mean
  a waiver of all conditions to Closing. 

      (a)     Representations
  and Warranties.     The representations and warranties
  of FORGE set forth in this Agreement will be true, correct and complete
  in all respects as of the Closing Date, as though made on and as of the Closing
  Date and FORGE will have delivered to CRYO a certificate dated the Closing Date,
  to the effect that the representations and warranties made by FORGE in this
  Agreement are true and correct. 

      (b)     Performance.     All
  of the covenants and obligations that FORGE is required to perform or to comply
  with pursuant to this Agreement at or prior to the Closing must have been performed
  and complied with in all material respects. 

      (c)     Financing.     FORGE
  will have completed a private placement financing of common stock or common
  stock and share purchase warrants (the “FORGE Private Placement”)
  as follows: 

	 	(1)	the gross proceeds of the FORGE Private Placement will equal
      a minimum of $2,000,000;
	 	 	 
	 	(2)	The FORGE Private Placement may be completed
        either as an offering of common stock or common stock and share purchase
        warrants;

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	 	(3)	If the FORGE Private Placement is completed
        as an offering of common stock, then offering price of the common stock
        will not be less than $1.50 per share;

	 	 	 
	 	(4)	If the FORGE Private Placement is completed
        as an offering of common stock and share purchase warrants, then offering
        price will not be less than $1.50 per unit and the share purchase warrants
        will be exercisable at a price of not less than $2.25 per share;

	 	 	 
	 	(5)	the FORGE Private Placement may complete
        prior to or contemporaneously with the Closing and it may be a condition
        of the FORGE Private Placement that the Closing will have occurred or
        will occur contemporaneously with the closing of the FORGE Private Placement.

      FORGE and CRYO agree that the
  proceeds of the FORGE Private Placement will be applied as follows: the Ignite/
  Forge divisions of FORGE will receive $500,000 with the balance of the proceeds
  to be utilized by the Cryotherm division. For any future financings completed
  subsequent to Closing, the Ignite/ Forge divisions will receive 25% and the
  Cryotherm division will receive 75% of net proceeds for financings up to $2,000,000
  and thereafter the proceeds will be split based upon budgets for each division
  approved by the board of directors of FORGE. 

      (d)     Debt
  Conversion.     FORGE will have completed the conversion
  of $333,333 of outstanding debt into 9,999,999 post-split shares of FORGE Common
  Stock (3,333,333 pre-split shares) (the “FORGE Debt Conversion”),
  which debt will include the debt owed to Camino Enterprises Ltd., the personal
  holding company of Mr. Dan Hunter, a director of FORGE, and certain other creditors
  and assigns. Each creditor of FORGE participating in the FORGE Debt Conversion
  will contractually agree that they will not sell the shares of FORGE Common
  Stock received on completion of the FORGE Debt Conversion for a period of one
  year. This contractual one year hold period will be in addition to any hold
  period imposed by applicable securities laws. 

      (e)     Forge Reorganization.     FORGE
  will have completed the following corporate changes (the “FORGE Reorganization”):

	 	(1)	FORGE will have completed the change of its jurisdiction
      of incorporation from Delaware to Nevada;
	 	 	 
	 	(2)	FORGE will have completed the change
        of its corporate name to Global Cogen, Inc., or such other name acceptable
        to FORGE and CRYO;

	 	 	 
	 	(3)
   	FORGE will have completed a 3 for 1
        forward split of all existing FORGE Common Stock, such that the 27,000,000
        outstanding shares of CRYO Common Stock and 6,260,000 options, warrants,
        convertible notes, including the CRYO Convertible Notes and other rights
        to purchase or acquire CRYO Common Stock will be exchanged for 19,000,0000
        shares of FORGE Common Stock, 4,405,185 options and warrants to purchase
        or acquire shares of FORGE Common Stock and the FORGE Convertible Notes
        convertible into 1,928,148 shares of FORGE Common Stock on Closing, if
        all holders of CRYO Common Stock execute this Agreement and if all holders
        of options, warrants convertible notes, including the CRYO Convertible
        Notes, and other rights to purchase or acquire shares of CRYO Common Stock
        accept the exchange contemplated by this Agreement;

	 	 	 
	 	(4)	FORGE will have increased its authorized capital to include
      100,000,000 shares of common stock (post-split).

 FORGE will upon execution of this Agreement take necessary
  action in order to obtain shareholder approval to each of these matters, including
  the filing of proxy material with the Securities and Exchange Commission pursuant
  to Section 14(a) of the Securities Exchange Act of 1934, and will complete the
  required filings with 

-18-

 the Delaware and Nevada Secretaries of State upon receipt
  of shareholder approval in order to give effect to these corporate changes.

      (f)     Third
  Party Consents.     CRYO will have received duly
  executed copies of all third-party consents and approvals contemplated by the
  Plan of Reorganization, in form and substance reasonably satisfactory to CRYO.

      (g)    Corporate
  Approvals.     FORGE will have taken all necessary
  corporate action and obtained all necessary approvals, including directors’,
  shareholders’ and applicable regulatory approvals, to the Plan of Reorganization.

      (h)    No
  Material Adverse Change.     No event will have
  occurred since the date of this Agreement that has had a material adverse effect
  on the business, operations, assets, properties, prospects or conditions of
  FORGE taken as a whole. 

      (i)     No
  Action.     No suit, action, or proceeding will
  be pending or threatened before any governmental or regulatory authority wherein
  an unfavorable judgment, order, decree, stipulation, injunction or charge would
  (i) prevent consummation of any of the transactions contemplated by this Agreement;
  or (ii) cause the transactions to be rescinded following consummation. 

      (j)     Liabilities
  of FORGE.     The liabilities of FORGE will be
  not more than the liabilities of FORGE indicated on its March 31, 2003 balance
  sheet, less the liabilities reduced as a result of the FORGE Debt Conversion,
  exclusive of liabilities incurred by FORGE in the ordinary course of business
  subsequent to March 31, 2003 and liabilities in respect of advances by affiliates
  of FORGE during the period between the date of this Agreement and Closing. 

      (k)     Due
  Diligence Review.     CRYO will be reasonably satisfied
  in all respects with their due diligence investigation and review of FORGE.

      (l)      Schedules.     FORGE
  will have delivered to CRYO on or before August 15, 2003 all Schedules required
  to be delivered by FORGE to CRYO under this Agreement after execution, including
  Schedules 3.1, 3.6, 3.14 and 3.21, and all information set forth in each schedule
  will be satisfactory to CRYO in its discretion. 

      (m)    Convertible
  Note Assumption.     FORGE will have taken all
  necessary corporate action and obtained all necessary corporate approvals, including
  directors’, shareholders’ and applicable regulatory approvals, to
  issue the FORGE Convertible Notes in exchange for the CRYO Convertible Notes.

 ARTICLE VII

  ADDITIONAL COVENANTS OF THE PARTIES 

      7.1     FORGE.     FORGE
  agrees to use its best efforts to complete the FORGE Private Placement, the
  FORGE Reorganization and the FORGE Debt Settlement. 

      7.2     CRYO.     CRYO
  agrees to use its best efforts to complete and deliver the CRYO Financial Statements
  by August 31, 2003. 

      7.3     Access
  and Investigation.     Between the date of this
  Agreement and the Closing Date, CRYO, on the one hand, and FORGE, on the other
  hand, will, and will cause each of their respective representatives to, (a)
  afford the other and its representatives full and free access to its personnel,
  properties, contracts, books and records, and other documents and data, (b)
  furnish the other and its representatives with copies of all such contracts,
  books and records, and other existing documents and data as required by this
  Agreement and as the other may otherwise reasonably request, and (c) furnish
  the other and its representatives with such additional financial, operating,
  and other data and information as the other may reasonably request. All of such
  access, investigation and communication by a party and its representatives will
  be conducted during normal business hours and in a manner designed not to interfere
  unduly with the normal business operations 

-19-

of the other party. Each party will instruct its auditors to
  cooperate with the other party and its representatives in connection with such
  investigations

      7.4     Confidentiality.     All
  information regarding the business of CRYO including, without limitation, financial
  information that CRYO provides to FORGE during FORGE’s due diligence investigation
  of CRYO will be kept in strict confidence by FORGE and will not be used (except
  in connection with due diligence), dealt with, exploited or commercialized by
  FORGE or disclosed to any third party (other than FORGE’s professional
  accounting and legal advisors) without the prior written consent of CRYO. If
  the transactions contemplated by this Agreement do not proceed for any reason,
  then upon receipt of a written request from the CRYO, FORGE will immediately
  return to CRYO any information received regarding CRYO’s business. Likewise,
  all information regarding the business of FORGE including, without limitation,
  financial information that FORGE provides to CRYO during its due diligence investigation
  of FORGE will be kept in strict confidence by CRYO and will not be used (except
  in connection with due diligence), dealt with, exploited or commercialized by
  CRYO or disclosed to any third party (other than CRYO’s professional accounting
  and legal advisors) without FORGE’s prior written consent. If the transactions
  contemplated by this Agreement do not proceed for any reason, then upon receipt
  of a written request from FORGE, CRYO will immediately return to FORGE (or as
  directed by FORGE) any information received regarding FORGE’s business.

      7.5     Notification.     Between
  the date of this Agreement and the Effective Time, each of the parties to this
  Agreement will promptly notify the other parties in writing if it becomes aware
  of any fact or condition that causes or constitutes a material breach of any
  of its representations and warranties as of the date of this Agreement, if it
  becomes aware of the occurrence after the date of this Agreement of any fact
  or condition that would cause or constitute a material breach of any such representation
  or warranty had such representation or warranty been made as of the time of
  occurrence or discovery of such fact or condition.

      7.6     Exclusivity.     Until
  such time, if any, as this Agreement is terminated pursuant to this Agreement,
  neither CRYO nor FORGE will, directly or indirectly solicit, initiate, entertain
  or accept any inquiries or proposals from, discuss or negotiate with, provide
  any nonpublic information to, or consider the merits of any unsolicited inquiries
  or proposals from, any person or entity (other than each other) relating to
  any transaction involving the sale of the business or assets (other than in
  the ordinary course of business), or any of the capital stock of CRYO or FORGE,
  as applicable, or any merger, consolidation, business combination, or similar
  transaction. Each party will promptly notify the other if it receives an unsolicited
  offer for such a transaction, or obtains information that such an offer is likely
  to be made, which notice will include the identity of the prospective offeror
  and the price and terms of the proposed offer.

      7.7     Conduct
  of CRYO Business Prior to Closing.     From the
  date of this Agreement to the Closing Date, and except to the extent that FORGE
  otherwise consents in writing, CRYO will operate its business substantially
  as presently operated and only in the ordinary course and in compliance with
  all applicable laws, and use its best efforts to preserve intact its good reputation
  and present business organization and to preserve its relationships with persons
  having business dealings with it.

      7.8     Certain
  Acts Prohibited - CRYO.     Except as expressly
  contemplated in the Schedules to this Agreement, between the date of this Agreement
  and the Closing Date, CRYO will not, without the prior written consent of FORGE:

     (a)     amend
  its certificate of incorporation, by-laws or other organizational documents;

     (b)     incur
  any liability or obligation other than in the ordinary course of business or
  encumber or permit the encumbrance of any properties or assets of CRYO;

     (c)     dispose
  of or contract to dispose of any CRYO property or assets except in the ordinary
  course of business consistent with past practice;

     (d)     issue,
  deliver, sell, pledge or otherwise encumber or subject to any lien any shares
  of the CRYO Common Stock, or any rights, warrants or options to acquire, any
  such shares, voting securities or convertible securities;

-20-

     (e)     not
  (i) declare, set aside or pay any dividends on, or make any other distributions
  in respect of the CRYO Common Stock, or (ii) split, combine or reclassify any
  CRYO Common Stock or issue or authorize the issuance of any other securities
  in respect of, in lieu of or in substitution for shares of CRYO Common Stock;
  or

     (f)     not
  materially increase benefits or compensation expenses of CRYO, increase the
  cash compensation of any director, executive officer or other key employee or
  pay any benefit or amount not required by a Plan or arrangement as in effect
  on the date of this Agreement to any such person.

     7.9    Certain
  Acts Prohibited - FORGE. Between the date of this Agreement and the Closing
  Date, FORGE will not, without the prior written consent of CRYO and except as
  contemplated by this Agreement:

     (a)     amend
  its certificate of incorporation, by-laws or other organizational documents;

     (b)     incur
  any liability or obligation other than in the ordinary course of business or
  encumber or permit the encumbrance of any properties or assets of FORGE;

     (c)     dispose
  of or contract to dispose of any FORGE property or assets except in the ordinary
  course of business consistent with past practice;

     (d)     issue
  or sell shares of FORGE Common Stock, or any rights, warrants or options to
  acquire, any such shares, voting securities or convertible securities, other
  than in the FORGE Private Placement and the FORGE Debt Conversion; or

     (e)     not
  (i) declare, set aside or pay any dividends on, or make any other distributions
  in respect of the FORGE Common Stock, or (ii) split, combine or reclassify any
  FORGE Common Stock or issue or authorize the issuance of any other securities
  in respect of, in lieu of or in substitution for shares of FORGE Common Stock

      7.10   Public
  Announcements.     FORGE and CRYO each agree that
  they will not release or issue any reports or statements or make any public
  announcements relating to this Agreement or the transactions contemplated herein
  without the prior written consent of the other party, except as may be required
  upon written advice of counsel to comply with applicable laws or regulatory
  requirements after consulting with the other party hereto and seeking their
  consent to such announcement.

      7.11   FORGE
  Board of Directors.     Concurrent with the Closing
  of the Plan of Reorganization, the board of directors of FORGE will be increased
  to five directors and the current directors of FORGE will have adopted resolutions
  appointing Lawrence Shultz and two nominees of CRYO to the board of directors,
  such that the board of directors upon closing will consist of: Dan Hunter, Jim
  McKenzie, Lawrence Shultz and the two nominees of CRYO.

 ARTICLE VIII

  CLOSING DELIVERIES

      8.1     Closing
  Deliveries of CRYO and the Selling Stockholders. At Closing, CRYO and the
  Selling Stockholders will deliver or cause to be delivered the following, fully
  executed and in form and substance reasonably satisfactory to FORGE:

     (a)     copies
  of all resolutions and/or consent actions adopted by or on behalf of the boards
  of directors of CRYO and the stockholders of CRYO evidencing approval of this
  Agreement and the Plan of Reorganization.

     (b)     Copies
  of: (i) the Certificate of Incorporation of CRYO, certified by the Secretary
  of State of Delaware; and (ii) good standing certificates and certificates of
  existence from the Secretary of State of

-21-

Delaware, evidencing that CRYO is in existence and in good
  standing under the laws of the State of Delaware. 

     (c)     a
  certificate of an officer of CRYO, dated as of Closing, certifying that (a)
  each covenant and obligation of CRYO has been complied with, and (b) each representation,
  warranty and covenant of CRYO is true and correct at the Closing as if made
  on and as of the Closing;

     (d)     certificates
  representing all CRYO Shares duly endorsed in blank for transfer by each of
  the Selling Stockholders or with a stock power of attorney (in either case with
  the signature guaranteed by the appropriate official) with all eligible security
  transfer taxes paid;

     (e)     the
  CRYO Financial Statements;

      (f)      the
  minute books of CRYO and all books and records of CRYO;

     (g)     the
  acceptances of the CRYO Convertible Note Holders to the exchange of the CRYO
  Convertible Notes for the FORGE Convertible Notes, together with the CRYO Convertible
  Notes surrendered for cancellation.

     (h)     the
  acceptances of the holders of the options and warrants to purchase shares of
  CRYO Common Stock to the exchange of their respective options and warrants for
  options and warrants to purchase shares of FORGE Common Stock, as contemplated
  by this Agreement, together with all option agreements and warrant certificates
  surrendered for cancellation.

      8.2     Closing
  Deliveries of FORGE.     At Closing, FORGE will deliver
  or cause to be delivered the following, fully executed and in form and substance
  reasonably satisfactory to CRYO:

     (a)     copies
  of all resolutions and/or consent actions adopted by or on behalf of the boards
  of directors and stockholders of FORGE evidencing approval of this Agreement
  and the Plan of Reorganization and appointing Lawrence Shultz and the two nominees
  of CRYO to the board of directors of FORGE;

     (b)     a
  certificate of an officer of FORGE, dated as of Closing, certifying that (a)
  each covenant and obligation of FORGE has been complied with, and (b) each representation,
  warranty and covenant of FORGE is true and correct at the Closing as if made
  on and as of the Closing;

     (c)     share
  certificates representing Forge Shares duly endorsed with the legends respecting
  restrictions on transfer as required by or necessary under the applicable securities
  legislation of the United States, as contemplated by this Agreement;

     (d)     evidence
  of the closing of the FORGE Private Placement, provided that such closing may
  be concurrent with the Closing;

     (e)     evidence
  of the completion of the FORGE Reorganization;

      (f)      evidence
  of the completion of the FORGE Debt Conversion;

     (g)     the
  FORGE Convertible Notes in the names of the CRYO Convertible Note Holders;

     (h)     option
  agreements and warrant certificates in the names of those holders of options
  and warrants to purchase shares of CRYO Common Stock who have agreed to the
  exchange of their respective options and warrants for options and warrants to
  purchase shares of FORGE Common Stock, as contemplated by this Agreement.

-22-

 ARTICLE IX

  TERMINATION, AMENDMENT AND WAIVERS 

     9.1 Termination.     This
  Agreement may be terminated at any time prior to Closing, whether before or
  after the requisite approvals of the Selling Stockholders of FORGE or CRYO:

     (a)     by
  mutual written consent duly authorized by the Boards of Directors of CRYO and
  FORGE;

     (b)     by
  either CRYO or FORGE if the Closing shall not have been consummated by September
  30, 2003, for any reason; provided, however, that the right to terminate this
  Agreement under this Section 9.1(b) shall not be available to any party whose
  action or failure to act has been a principal cause of or resulted in the failure
  of the Closing to occur on or before such date and such action or failure to
  act constitutes a breach of this Agreement;

     (c)     by
  CRYO, upon a breach of any representation, warranty, covenant or agreement on
  the part of FORGE;

     (d)     by
  FORGE, upon a breach of any representation, warranty, covenant or agreement
  on the part of CRYO or the Selling Stockholders; or

     (e)     by
  either CRYO or FORGE if a governmental entity shall have issued an order, decree
  or ruling or taken any other action, in any case having the effect of permanently
  restraining, enjoining or otherwise prohibiting the transactions contemplated
  by this Agreement, which order, decree, ruling or other action is final and
  cannot be appealed.

      9.2     Notice
  of Termination; Effect of Termination.     Any
  termination of this Agreement pursuant to Section 9.1 will be effective immediately
  upon the delivery of written notice by the terminating party to the other parties
  hereto. In the event of any such termination, this Agreement shall be of no
  further force or effect, except (i) as set forth in this Section 9.2, Section
  9.3 and Article X (General Provisions), each of which shall survive the termination
  of this Agreement, and (ii) nothing herein shall relieve any party from liability
  for any breach of this Agreement. No termination of this Agreement will relieve
  any party of liability for any breaches of this Agreement that are based on
  a wrongful refusal or failure to perform any obligations.

      9.3     Fees
  and Expenses.     Except as otherwise expressly
  set forth in this Agreement, all fees and expenses in connection with this Agreement
  and the transactions contemplated hereby shall be paid by the party incurring
  such fees and expenses, whether or not the Closing occurs.

      9.4     Amendment.     This
  Agreement may be amended only by an instrument in writing signed by all of the
  parties.

      9.5     Waiver.     Any
  party may (i) waive any inaccuracies in the representations and warranties made
  to such party contained herein or in any document delivered pursuant hereto
  or (ii) waive compliance with or fulfillment of any of the agreements or conditions
  for the benefit of such party contained herein. The waiver by any party hereto
  of a breach of any provision of this Agreement shall not operate or be construed
  as a waiver of any subsequent breach, whether or not similar. Any waiver must
  be in an instrument in writing signed by the waiving party. Delay in exercising
  any right under this Agreement shall not constitute a waiver of such right.

      ARTICLE X

  GENERAL PROVISIONS 

      10.1     Survival.     The
  representations and warranties of FORGE, CRYO and the Selling Stockholders contained
  in this Agreement shall survive the Closing for a period of one year following
  the Closing. 

-23-

      10.2     Notices.     All
  notices and other communications hereunder shall be in writing and shall be
  delivered or sent, with the copies indicated, if delivered personally, by registered
  or certified mail (postage pre-paid, return receipt requested), fax (with confirmation
  and additional copy sent by overnight delivery service) or overnight delivery
  service (by a reputable national carrier) to the parties as follows (or at such
  other address as a party may specify by notice given pursuant to this Section):

	 	(a)	If to FORGE:
	 	 	Daniel Hunter, CEO
	 	 	Forge, Inc.
	 	 	Suite 610, 375 Water Street
	 	 	Vancouver, British Columbia
	 	 	Canada V6B 5C6
	 	 	Fax: (604) 801-5575
	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	Stephen F.X. O’Neill
	 	 	O’Neill & Company
	 	 	Suite 1880, 1055 West Georgia Street
	 	 	Vancouver, British Columbia
	 	 	Canada V6E 3P3
	 	 	Fax: (604) 687-6650
	 	 	 
	 	(b)	If to CRYO or the Selling Stockholders:
	 	 	 
	 	 	Lawrence M. Shultz
	 	 	Cryotherm, Inc.
	 	 	2934 1⁄2 Beverly Glen Circle
	 	 	Suite 301
	 	 	Bel Air, California 90210
	 	 	Fax: (310) 246-0346
	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	Samuel S. Guzik, Esq.
	 	 	Guzik & Associates
	 	 	1800 Century Park East, Suite 500
	 	 	Los Angeles, CA 90067
	 	 	Fax: (310) 788-2835

      All notices shall be deemed
  given and received one business day after their delivery to the addresses for
  the respective party, with the copies indicated as provided in this Section.

      10.3     Further
  Assurances.     At any time, and from time to time,
  after the Closing, each party will execute such additional instruments and take
  such additional action as may be reasonably requested by any other party to
  confirm or perfect title to any property transferred hereunder or otherwise
  to carry out and effect the intent and purposes of this Agreement. 

      10.4     Interpretation.     The
  table of contents and headings contained in this Agreement are for reference
  purposes only and shall not affect in any way the meaning or interpretation
  of this Agreement. 

      10.5     Counterparts.     This
  Agreement may be executed in one or more counterparts, all of which shall be
  considered one and the same agreement and shall become effective when one or
  more counterparts have been signed by each of the parties and delivered to the
  other parties, it being understood that all parties need not sign the same counterpart.

-24- 

      10.6     Entire
  Agreement; Third Party Beneficiaries.     This
  Agreement and the documents and instruments and other agreements among the parties
  hereto as contemplated by or referred to herein (a) constitute the entire agreement
  among the parties with respect to the subject matter hereof and supersede all
  prior agreements and understandings, both written and oral, among the parties
  with respect to the subject matter hereof; and (b) are not intended to confer
  upon any other person any rights or remedies hereunder, except as specifically
  provided in this Agreement. 

      10.7     Severability.     In
  the event that any provision of this Agreement or the application thereof, becomes
  or is declared by a court of competent jurisdiction to be illegal, void or unenforceable,
  the remainder of this Agreement will continue in full force and effect and the
  application of such provision to other persons or circumstances will be interpreted
  so as reasonably to effect the intent of the parties hereto. The parties further
  agree to replace such void or unenforceable provision of this Agreement with
  a valid and enforceable provision that will achieve, to the extent possible,
  the economic, business and other purposes of such void or unenforceable provision.

      10.8     Other
  Remedies; Specific Performance.     Except as otherwise
  provided herein, any and all remedies herein expressly conferred upon a party
  will be deemed cumulative with and not exclusive of any other remedy conferred
  hereby, or by law or equity upon such party, and the exercise by a party of
  any one remedy will not preclude the exercise of any other remedy. The parties
  hereto agree that irreparable damage would occur in the event that any of the
  provisions of this Agreement were not performed in accordance with their specific
  terms or were otherwise breached. It is accordingly agreed that the parties
  shall be entitled to seek an injunction or injunctions to prevent breaches of
  this Agreement and to enforce specifically the terms and provisions hereof in
  any court of the United States or any state having jurisdiction, this being
  in addition to any other remedy to which they are entitled at law or in equity.

-25- 

      10.9     Governing
  Law.     This Agreement shall be governed by and
  construed in accordance with the laws of the State of Delaware, regardless of
  the laws that might otherwise govern under applicable principles of conflicts
  of law thereof. 

      IN WITNESS WHEREOF, the parties
  hereto have caused this Agreement to be executed as of the date first written
  above. 

	 	FORGE, INC.
	 	 	 
	 	By:	/s/ Daniel Hunter
	 	 	Daniel Hunter
	 	 	 
	 	CRYOTHERM, INC.
	 	 	 
	 	By:	/s/ Larry Shultz
	 	 	Larry Shultz

 The “Majority Cryotherm Selling Stockholders”: 

	 	By:	/s/ Larry Shultz
	 	 	Larry Shultz
	 	 	 
	 	By:	/s/ Robert Hunt
	 	 	Robert Hunt

-26-

JOINDER OF SELLING STOCKHOLDERS OF CRYOTHERM, INC. 

 Pursuant to the Merger Agreement between Forge, Inc. and Cryotherm,
  Inc., the undersigned Selling Stockholder(s), who is an “Accredited Investor”
  as defined by Rule 501 of Regulation D of the 1933 Act, does (do) hereby severally
  join in, and agree to be bound by, the terms and conditions of the Purchase
  Agreement and Plan of Reorganization applicable to “Selling Stockholders”
  in accordance with the terms thereof, effective as of July 28, 2003, and shall
  upon their signature below be deemed a party thereto for all purposes in accordance
  with the terms thereof. 

 In addition, the undersigned hereby delivers: 

xxx,000 shares of the common stock of Cryotherm, Inc., 

represented by stock Certificate(s) Number(s): C-xxx  

inclusive, standing in the name of the undersigned on the books of Cryotherm, Inc. (Delaware), to be redeemed for:

 xx,000 newly issued shares of post-merger Global Cogen, Inc. (formerly Forge, Inc.) (Nevada).

 The Selling Stockholder is an “Accredited Investor”
  as defined by Rule 501 of Regulation D of the 1933 Act by virtue of satisfying
  one or more of the following categories (please place an "X" on each appropriate
  box): 

	 	 ̈	Category 1.     Any
        director or executive officer of FORGE;

	 	 	 
	 	 ̈	Category 2.     Any
        natural person whose individual net worth, or joint net worth with that
        person's spouse, at the time of his or her purchase, exceeds $1,000,000;

	 	 	 
	 	 ̈	Category 3.     Any
        natural person who had an individual income in excess of $200,000 in each
        of the two most recent years or joint income with that person's spouse
        in excess of $300,000 in each of those years and has a reasonable expectation
        of reaching that same income level in the current year;

	 	 	 
	 	 ̈	Category 4.    Any
        organization described in Section 501(c)(3) of the Internal Revenue Code,
        corporation, Massachusetts or similar business trust, or partnership,
        not formed for the specific purpose of acquiring the securities offered,
        with total assets in excess of $5,000,000;

	 	 	 
	 	 ̈	Category 5.   Any private
        business development company as defined in Section 202(a)(22) of the Investment
        Advisers Act of 1940;

	 	 	 
	 	 ̈	Category 6.  Any bank as defined in Section
        3(a)(2) of the 1933 Act, or any savings and loan association or
        other institution as defined in Section 3(a)(5)A of the 1933 Act whether
        acting in its individual or fiduciary capacity; any broker or dealer registered
        pursuant to Section 15 of the 1934 Act; any insurance company as defined
        in Section 2(13) of the 1933 Act; any investment company registered
        under the Investment Company Act of 1940 or a business development
        company as defined in Section 2(a)(48) of the 1933 Act; any Small
        Business Investment Company licensed by the U.S. Small Business Administration
        under Section 301(c) or (d) of the Small Business Act of 1958;
        any plan established and maintained by a state, its political subdivisions,
        or any agency or instrumentality of a state or its political subdivision,
        for the benefit of its employees if such plan has total assets in excess
        of $5,000,000; and an employee benefit plan within the meaning of Title
        I of the Employee Retirement Income Security Act of 1974 if the
        investment decision is made by a plan fiduciary, as defined in Section
        3(21) of said Act, which is either a bank, savings and loan association,
        insurance company, or registered investment advisor, or if the employee
        benefit plan has total assets in excess of $5,000,000, or, if a self-directed
        plan, with investment decisions made solely by persons that are accredited
        investors;

 - 1 - 

	 	 ̈	Category 7.     Any
        trust, with total assets in excess of $5,000,000, not formed for the specific
        purpose of acquiring the securities offered, whose purchase is directed
        by a sophisticated person as described in Section 230.506(b)(2)(ii) of
        Regulation D under the 1933 Act; 

	 	 	 
	 	 ̈	Category 8.     Any
        self-directed employee benefit plan with investment decisions made solely
        by persons that are accredited investors within the meaning of Rule 501
        of Regulation D promulgated under the 1933 Act; or 

	 	 	 
	 	 ̈	Category 9.     Any
        entity in which all of the equity owners are accredited investors; The
        undersigned does (do) hereby irrevocably constitute and appoint FORGE's
        transfer agent, StockTrans, located at 44 West Ardmore, PA 19003, as attorney
        to transfer the said stock on the books of Cryotherm, Inc. with full power
        of substitution in the premises. 

Dated: _________________________

   

 Shareholder Signature: _____________________________________

   

 Social Security or Taxpayer ID #: _____________________________

In order to receive your new shares in Global Cogen, Inc.,
  please fill in all appropriate information and send this original signed document
  to: Daniel Hunter, Forge, Inc., Suite 610, 375 Water Street, Vancouver, British
  Columbia, Canada V6B 5C6 -- Fax: (604) 801-5575 

 Please also fill in your shareholder address for sending the new stock certificate(s):

_______________________________________________

  

  _______________________________________________

  

  _______________________________________________

Schedule 1.2 - List of CRYO Stockholders

 

 

 Schedule 3.1 – FORGE Organization and Qualification;
  Subsidiaries 

 

  

 Schedule 3.6 – Present Capital Structure of FORGE 

 

  

 Schedule 3.14 – FORGE Employee Benefit Plans 

 

  

Schedule 3.21 - FORGE Agreements, Contracts and Commitments

 

 

Schedule 4.6 - Capital Structure of CRYO

 

 

Schedule 4.7 – CRYO Financial Statements 

 The Unaudited CRYO Financial Statements, as required by Section
  4.7 of the Agreement, are attached hereto. 

 This Schedule 4.7 also sets forth below all material adverse
  changes in the financial condition, assets, liabilities or business of CRYO,
  including each out of the ordinary course of business increase to the liabilities
  of CRYO, and each increase paid, or agreed to, in the compensation, retirement
  benefits or other commitments to employees of CRYO since the date of the Unaudited
  CRYO Financial Statements.

	1.	Cryotherm is a development stage company that has
        no operating revenues and funding of the company continues to be made
        by loans from shareholders and investors, and by the sale of stock. 

	 	 
	2. 	On July 8, 2003, Cryotherm entered into employment
        agreements with Michael McGhan and James Gayle, and converted the employment
        agreement with CEO Larry Shultz into a consulting agreement. 

	 	 
	3.	On June 25, 2003, the Company was loaned $10,000
        under a one-year Convertible Promissary Note from shareholder Geoff Harris
        that pays 6% interest and is convertible into 40,000 shares of Cryo. 

	 	 
	4.	On June 25, 2003, June 29th, July 8th
        and July 11th, the Company was loaned $2,000, $8,000, $1,000
        and $3,000, respectively, by director Larry Shultz, totaling $15,000.
      

	 	 
	5. 	As of July 15, 2003, CRYO is $4,000 and $13,000 in
        arrears on payments to Robert Hunt and Joseph Volk, respectively, called
        for under the Hunt and Volk license agreements. 

	 	 
	6. 	On July 23, 2003, CRYO’s patent attorneys at
        Harness, Dickey and Pierce tendered a comprehensive patent bill totaling
        $71,765.57 through June 30, 2003 that was not previously included in the
        Cryotherm balance sheet. 

 Schedule 4.9 – CRYO Material Contracts and Transactions
  

 

  

Schedule 4.16 – CRYO Intellectual Property 

 This Schedule 4.16 contains a complete and accurate list and
  summary description, including any royalties paid or received by CRYO, of all
  contracts and agreements relating to the Intellectual Property Assets to which
  CRYO is a party or by which CRYO is bound, except for any license implied by
  the sale of a product and perpetual, paid-up licenses for commonly available
  software programs with a value of less than $500 under which CRYO is the licensee.
  There are no outstanding or threatened disputes or disagreements with respect
  to any such agreement. 

 A.   Robert Hunt -- Exclusive License Agreement -- May 20,
  2003  

 Hunt has licensed exclusive worldwide rights to over 20 patent
  applications to CRYO (see list below) for which he is paid a $20,000 per month
  license fee and a 3% royalty escalating to 5% royalty of adjusted gross revenues
  received by CRYO. As of July 15, 2003, CRYO is $13,000 in arrears on payments
  to Hunt under the license: 

	1.
   	Provisional Patent with no number assigned
        yet dated 02/28/2003, titled, "Hydraulic or Pneumatic Sail Mechanism --
        Improved Method of Power Generation, Refrigeration, Pumping, and Compression
        from Wind Energy, Wave Energy, or Water Current Energy via the use of
        Sails Constructed of Electronically Controlled Rotatable and Extendable
        Shutters to Reduce Drag and to Increase Power"; and,

	 	 
	2.
   	Provisional Patent Number 60/439,514
        dated 01/13/2003, titled, "Methods and Apparatus to Generate Useful Power,
        Refrigeration, and Heating from Harnessing the Potential Energies of Position
        Via the Continuous Placement or Formation of Bodies of Mass to Create
        Mass Differentials, Caused by the Gravitational Pull of the Earth, that
        Are Immediately Converted to Kinetic Energies of Motion in a Cycle"; and,

	 	 
	3.	Provisional Patent Number 60/432,740
        dated 12/13/2002, titled, "Drum Jet Turbine with Counter-Rotating Ring
        and Method of Manufacture"; and,

	 	 
	4.	Provisional Patent Number 60/424,070
        dated 11/07/02 titled, "Thermoelectric / Photovoltaic Solar Power Module,
        Having a Rankine Vapor Power Cycle to Provide Heat Rejection for the Module
        that Produces Additional Power Output"; and,

	 	 
	5.	Provisional Patent Number 60/417,134
        dated 10/10/2002, titled, "Hybrid Combustion Engine having an Internal
        Thermoelectric Vaporizer that Produces DC Electrical Current and Produces
        High Pressure Vapor for a Low-Boiling-Point-Liquid Power Cycle"; and,

	 	 
	6.	Provisional Patent Number 60/417,128
        dated 10/10/2002, titled, "Hydrogen and Oxygen Production via a Lift Force
        Provided by Hydrogen and Oxygen Gases Generated via Electrolysis at Substantial
        Depth"; and,

	 	 
	7.	Provisional Patent Number 60,410,441
        dated 09/16/2002, titled, "Multi-Fuel Drum Jet Turbine Engine, Having
        an Internal Rotating Combustor"; and,

	 	 
	8.	Provisional Patent Number 60/400,870
        dated 08/05/2002, titled, "Air-Lift Drum Jet Turbine"; and,

	 	 
	9.	Provisional Patent Application Number
        60/397,445 dated 07/22/2002, titled, "Drum Jet Turbine, Drum Jet Turbo-Alternator,
        Drum Jet Hydro-Turbine, or High Temperature Super-Conducting Drum Jet
        Turbo-Alternator Powered by High Pressure Cryogen or Cryogenic Vapor";
        and,

	 	 
	10.	Provisional Patent Application Number
        60/391,539 dated 06/26/2002, titled, "Dual Solar Energy Via Use of Multi-Stage
        Vapor Power Cycles, Using Multi-Refrigerants and Partial Pressure Refrigeration,
        with Hydrogen Production Via Electrolysis of Water and Hydrogen Energy
        Storage Via a Hydrogen and Oxygen Battery"; and,

 

	11.	Provisional Patent Application Number
        60/384,788 dated 06/03/2002, titled, "Multi-Stage, Multi-Refrigerant Working
        Fluid Vapor Cycle, Power Piston Thermal Engine, Having Internal Heat Rejection
        Using Partial Pressure Refrigeration"; and,

	 	 
	12.	Provisional Patent Application Number
        60/384,126 dated 05/30/02, titled, "Self-Powered Partial Pressure Refrigeration
        / Heating Cycle, Having Separation of the Pressure Equaling Gas from the
        Refrigerant Via Advanced Membrane Technology"; and,

	 	 
	13.	Provisional Patent Application Number
        60/381,374 dated 05/17/2002, titled, "Partial Pressure Refrigeration /
        Heating Cycle"; and,

	 	 
	14.	Provisional Patent Application Number
        60/381,075 dated 05/14/02, titled, "Kinetic Energy Vapor Power Cycle with
        Internal Heat Rejection Via Absorption Cooling Using Anhydrous Gases";
        and,

        Application Number 60/376,412 dated 05/01/2002, titled, "Improved

	 	 
	15.	Provisional Patent Thermoelectric Vaporizer,
        Thermoelectric Generator, or Thermoelectric Cooler by Use of Vacuum Sealed
        Thermoelectric Modules and by Use of New Thermoelectric Materials"; and,

	 	 
	16.	Provisional Patent Application Number
        60/375,666 dated 04/29/2002, titled, "Multi-Cycle, High Torque, High-Pressure
        Boundary Layer Drag Assisted, Rotary Vane Turbine, Turbo-Compressor, Turbo-Pump,
        Hydro-Turbine, Turbo-Motor, Turbo-Torque Converter, or Turbo-Alternator,
        Pressure Equalization Via Hydraulic Fluid Seals";, and,

	 	 
	17.	Provisional Patent Application Number
        60,366,168 dated 03/21/2002, titled, "The Production of Electrical Power
        from the Kinetic Energy and Geothermal Heat of a Natural Gas Well, Using
        a High-Speed Rotary Vane Turbo-Alternator, and Low Cost Method of Liquefying
        High-Pressure Natural Gas"; and,

	 	 
	18.	Provisional Patent Application Number
        60,360,421 dated 03/01/2002, titled, "High-Speed, Boundary Layer Drag
        Assisted, Rotary Vane Turbine, Turbo-Compressor, Turbo-Pump, Hydro-Turbine,
        or Turbo-Alternator"; and,

	 	 
	19.	Provisional Patent Application Number
        60,354,676 dated 02/06/2002, titled, "Kinetic Vapor Cycle Power Generator
        with Automated Pressure Balancing System"; and,

	 	 
	20.
   	Patent Application Number jc903 U. S.
        PTO 09/906,951 dated 7/16/01, titled, "Method of Enhanced Heat Extraction
        from a Geothermal Heat Source for the Production of Electricity Thermoelectrically
        and Mechanically Via the High-Pressure Injection of a Cryogen into a U-Tube
        or Open Tube Heat Exchanger within a Geothermal Heat Source, such as a
        Producing or Depleted Oil Well or Gas Well, or such as a Geothermal Water
        Well, or such as Hot Dry Rock; and, Method of Air Lift Pumping Water;
        and, Method of Electrolyzing the Water into Hydrogen and Oxygen Using
        the Electricity Generated"; and,

	 	 
	21.
   	Patent Application Number jc821 U.S.
        PTO 09/888842, dated 6/26/01, titled "The Production of Electricity Via
        the High-Pressure Injection of a Cryogen into a Geothermal Thermoelectric
        Generator within a Geothermal Heat Source, such as a Producing or Depleted
        Oil Well or Gas Well, or such as a Geothermal Water Well, or such as Hot
        Dry Rock"; and,

	 	 
	22.
   	Application Number jc978 U.S. PTO 09/873983,
        dated 06/04/01, titled, "Cryogen Production Via a Cryogenic Vapor Driven
        Power Piston for use in a Cryogenic Vapor Powered Vehicle with Rotary
        Vane Motors Attached to the Axles of the Vehicle next to the Vehicle's
        Four Wheels, Using a Heat Source such as Solar Heat, Heat of Compression
        (Heat Pump or Air Compressor, etc.) or Heat of Friction (as Formed by
        an Electric Generator) or Chemical Heat, or Heat Formed by Electrical
        Resistance, Heat of Combustion, etc. to Generate High-Pressure, High-Kinetic
        Energy Cryogenic Vapor"; and,

 

	23.
   	Application Number jc996 U. S. PTO 09/877781
        dated 06/11/01, titled "Thermoelectric Vaporizer for the Efficient Generation
        of Electricity Thermoelectrically and for the Simultaneous Vaporization
        of a Cryogen"; and,

	 	 
	24.
   	Application Number jc1002 U. S. PTO
        09/883,466 dated 06/18/01, titled, "Method of Cryogen Production and Thermoelectric
        Solid-State Electric Power Generation whereby the Thermal Energy of the
        Atmosphere is Directly Converted to Electrical Power and whereby the Thermal
        Energy of the Atmosphere is used to Produce High-Energy Cryogenic Vapor
        Capable of Performing Substantial Work and Pure Water is Produced from
        Water Vapor within the Atmosphere"; and,

	 	 
	25.
   	Application Number 09/774,110, dated
        01/31/01, titled, "The Burning of Disassociated Water as a Direct Fuel
        Via a Hydrogen Thermolysis Reactor..."

 Larry Shultz, who is an officer, director and shareholder
  in CRYO, under a prior agreement with Hunt, has a blind beneficiary interest
  in 1/3 of the royalties and 1/3 of the territorial license fees payable to Hunt
  under the Hunt Cryo License agreement. 

 B.   Centripetal Dynamics, Inc. -- Consulting and License
  Agreement -- June 29, 2003  

 CD has licensed exclusive North American and European Union
  rights to its new patents-pending TurboFlux Disk Turbine Engine and Down Wind
  Turbine technologies in exchange for 500,000 shares of CRYO stock, warrants
  for 500,000 shares of CRYO stock exercisable at 10-cents per share and a manufacturer’s
  profit margin to be negotiated in good faith once the costs of completed production
  units are determined. 

 C.   Joseph A. Volk -- License Agreement -- August 20, 2002

 Mr. Volk has licensed exclusive U.S. patent rights to his
  patent # 6,166,317 governing the use of thermoelectric devices to make electricity
  using cryogenics. In consideration of license payments by CRYO of $200,000 (payable
  $20,000 in year one, $76,000 on or before September 20, 2003, and $100,000 on
  or before September 20, 2004), Volk will assign ownership of the patent to CRYO.
  As of July 15, 2003, CRYO is $4,000 in arrears on payments to Volk under the
  license. 

 D.   List of all Trademarks owned by Cryotherm.  

 On June 12, 2002, CRYO filed for U.S. Trademark protection
  of the name, “Cryotherm” and was assigned US Trademark Office serial
  number 7813517. Final review prior to publication has been completed and application
  will be published for opposition in August 2003.Amended and Restated Trust Agreement

EXECUTION COPY

================================================================================

                      AMENDED AND RESTATED TRUST AGREEMENT

                                      among

                    CATERPILLAR FINANCIAL FUNDING CORPORATION

                                     Seller

                                       and

                 CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,

                                  Owner Trustee

                             Dated as of May 1, 2003

================================================================================

TABLE OF CONTENTS

Page

ARTICLE I             DEFINITIONS......................................................1

SECTION 1.01.         Capitalized Terms................................................1

SECTION 1.02.         Other Definitional Provisions....................................3

ARTICLE II            ORGANIZATION.....................................................3

SECTION 2.01.         Name.............................................................3

SECTION 2.02.         Office...........................................................4

SECTION 2.03.         Purpose and Powers...............................................4

SECTION 2.04.         Appointment of Owner Trustee.....................................4

SECTION 2.05.         Initial Capital Contribution of Trust Estate.....................4

SECTION 2.06.         Declaration of Trust.............................................5

SECTION 2.07.         Liability of the Owner...........................................5

SECTION 2.08.         Title to Trust Property..........................................5

SECTION 2.09.         Situs of Trust...................................................5

SECTION 2.10.         Representations and Warranties of Seller.........................5

SECTION 2.11.         Amended and Restated Trust Agreement.............................6

ARTICLE III           CERTIFICATES AND TRANSFER OF INTERESTS...........................6

SECTION 3.01.         Initial Ownership................................................6

SECTION 3.02.         Form of Certificates.............................................7

SECTION 3.03.         Authentication of the Certificate................................7

SECTION 3.04.         Registration of Transfer of the Certificate......................7

SECTION 3.05.         Mutilated, Destroyed, Lost or Stolen Certificate.................8

SECTION 3.06.         Persons Deemed Owner.............................................8

SECTION 3.07.         Access to List of Certificateholder's Names and Addresses........8

SECTION 3.08.         Maintenance of Office or Agency..................................8

SECTION 3.09.         Appointment of Paying Agents.....................................9

ARTICLE IV            ACTIONS BY OWNER TRUSTEE.........................................9

SECTION 4.01.         Prior Notice to Owner with Respect to Certain Matters............9

SECTION 4.02.         Action By the Owner with Respect to Certain Matters.............10

SECTION 4.03.         Action By Owner with Respect to Bankruptcy......................10

-i-

TABLE OF CONTENTS
(continued)

Page

SECTION 4.04.         Restrictions on Owner's Power...................................10

ARTICLE V             APPLICATION OF TRUST FUNDS; CERTAIN DUTIES......................10

SECTION 5.01.         Establishment of Trust Account..................................10

SECTION 5.02.         Application of Trust Funds......................................11

SECTION 5.03.         Method of Payment...............................................11

SECTION 5.04.         No Segregation of Monies; No Interest...........................12

SECTION 5.05.         Accounting and Report to the Noteholders, the Owner, the
                      Internal Revenue Service and Others.............................12

ARTICLE VI            AUTHORITY AND DUTIES OF OWNER TRUSTEE...........................12

SECTION 6.01.         General Authority...............................................12

SECTION 6.02.         General Duties..................................................12

SECTION 6.03.         Action Upon Instruction.........................................13

SECTION 6.04.         No Duties Except as Specified in This Agreement or in
                      Instructions....................................................13

SECTION 6.05.         No Action Except under Specified Documents or Instructions......14

SECTION 6.06.         Restrictions....................................................14

ARTICLE VII           CONCERNING THE OWNER TRUSTEE....................................14

SECTION 7.01.         Acceptance of Trusts and Duties.................................14

SECTION 7.02.         Furnishing of Documents.........................................15

SECTION 7.03.         Representations and Warranties..................................16

SECTION 7.04.         Reliance; Advice of Counsel.....................................16

SECTION 7.05.         Not Acting in Individual Capacity...............................17

SECTION 7.06.         Owner Trustee Not Liable for the Certificate, Notes or
                      Receivables.....................................................17

SECTION 7.07.         Owner Trustee May Own the Certificate and Notes.................17

ARTICLE VIII          COMPENSATION OF OWNER TRUSTEE...................................17

SECTION 8.01.         Owner Trustee's Fees and Expenses...............................17

SECTION 8.02.         Indemnification.................................................18

SECTION 8.03.         Payments to the Owner Trustee...................................18

ARTICLE IX            TERMINATION OF TRUST AGREEMENT..................................18

SECTION 9.01.         Termination of Trust Agreement..................................18

-ii-

TABLE OF CONTENTS
(continued)

Page

ARTICLE X             SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES..........19

SECTION 10.01.        Eligibility Requirements for Owner Trustee......................19

SECTION 10.02.        Resignation or Removal of Owner Trustee.........................20

SECTION 10.03.        Successor Owner Trustee.........................................20

SECTION 10.04.        Merger or Consolidation of Owner Trustee........................21

SECTION 10.05.        Appointment of Co-Trustee or Separate Trustee...................21

ARTICLE XI            MISCELLANEOUS...................................................22

SECTION 11.01.        Supplements and Amendments......................................22

SECTION 11.02.        No Legal Title to Owner Trust Estate in the Owner...............23

SECTION 11.03.        Limitations on Rights of Others.................................23

SECTION 11.04.        Notices.........................................................23

SECTION 11.05.        Severability....................................................24

SECTION 11.06.        Separate Counterparts...........................................24

SECTION 11.07.        Successors and Assigns..........................................24

SECTION 11.08.        Covenant of the Seller..........................................24

SECTION 11.09.        No Petition.....................................................24

SECTION 11.10.        No Recourse.....................................................25

SECTION 11.11.        Headings........................................................25

SECTION 11.12.        GOVERNING LAW...................................................25

SECTION 11.13.        Certificate Transfer Restrictions...............................25

SECTION 11.14.        Seller Payment Obligation.......................................26

EXHIBIT A              FORM OF CERTIFICATE...........................................A-1

EXHIBIT B              CERTIFICATE OF TRUST OF CATERPILLAR FINANCIAL ASSET
                       TRUST 2003-A..................................................B-1

EXHIBIT C              CERTIFICATEHOLDER CERTIFICATION...............................C-1

-iii-

         AMENDED AND RESTATED TRUST AGREEMENT dated as of May 1, 2003, between
CATERPILLAR FINANCIAL FUNDING CORPORATION, a Nevada corporation, as Seller, and
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION, as Owner Trustee.

                                    ARTICLE I

                                   DEFINITIONS

SECTION 1.01.     Capitalized Terms. For all purposes of this Agreement, the
following terms shall have the meanings set forth below:

         "Administration Agreement" means the Administration Agreement dated as
of May 1, 2003, among the Administrator, the Trust, the Seller and the Indenture
Trustee, as the same may be amended, modified or supplemented from time to time.

         "Administrator" means Caterpillar Financial Services Corporation, a
Delaware corporation, or any successor Administrator under the Administration
Agreement.

         "Agreement" shall mean this Trust Agreement, as the same may be amended
and supplemented from time to time.

         "Basic Documents" shall mean the Purchase Agreement, the Sale and
Servicing Agreement, the Indenture, the Administration Agreement, the Depository
Agreement, the Custodial Agreement, the Notes, the Certificates and the other
documents and certificates delivered in connection therewith.

         "Benefit Plan Investor" shall have the meaning assigned to such term in
Section 11.13.

         "Certificate Balance" shall have the meaning assigned to such term in
the Sale and Servicing Agreement.

         "Certificate Distribution Account" shall have the meaning assigned to
such term in Section 5.01.

         "Certificate of Trust" shall mean the Certificate of Trust in the form
of Exhibit B which has been filed for the Trust pursuant to Section 3810(a) of
the Statutory Trust Statute.

         "Certificate Register" and "Certificate Registrar" shall mean the
register mentioned and the registrar appointed pursuant to Section 3.04.

         "Certificateholder" or "Holder" shall mean the registered holder of the
Certificate.

         "Certificateholder Certification" shall mean a certification with
respect to non-foreign status and Benefit Plan Investor status in the form of
Exhibit C hereto.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Corporate Trust Office" shall mean, with respect to the Owner Trustee,
the principal corporate trust office of the Owner Trustee located at c/o JP
Morgan Chase, 500 Stanton Christiana Road, OPS4, 3rd Floor, Newark, Delaware
19713; or at such other address as the Owner Trustee may designate by notice to
the Owner and the Seller, or the principal corporate trust office of any
successor Owner Trustee (the address of which the successor owner trustee will
notify the Seller and the Owner).

         "Depository Agreement" means the agreement among the Trust, the
Indenture Trustee, the Administrator and The Depository Trust Company, dated May
28, 2003.

         "Expenses" shall have the meaning assigned to such term in Section 8.02.

         "Indenture Trustee" shall mean U.S. Bank National Association, not in
its individual capacity but solely as Indenture Trustee under the Indenture, and
any successor Indenture Trustee under the Indenture.

         "Owner" shall mean the Holder of the Certificate.

         "Owner Trust Estate" shall mean all right, title and interest of the
Trust in and to the property and rights assigned to the Trust pursuant to
Article II of the Sale and Servicing Agreement, all funds on deposit from time
to time in the Trust Accounts and the Certificate Distribution Account and all
other property of the Trust from time to time, including any rights of the Owner
Trustee and the Trust pursuant to the Sale and Servicing Agreement and the
Administration Agreement.

         "Owner Trustee" shall mean Chase Manhattan Bank USA, National
Association, a national banking association, not in its individual capacity but
solely as owner trustee under this Agreement, and any successor Owner Trustee
hereunder.

         "Paying Agent" shall mean any paying agent or co-paying agent appointed
pursuant to Section 3.09 and shall initially be JPMorgan Chase Bank.

         "Record Date" shall mean, with respect to any Distribution Date, at the
close of business on the last calendar day of the month preceding the month in
which such Distribution Date occurs.

         "Sale and Servicing Agreement" shall mean the Sale and Servicing
Agreement among the Trust, the Seller, as seller, and Caterpillar Financial
Services Corporation, as servicer, dated as of May 1, 2003, as the same may be
amended, modified or supplemented from time to time.

         "Secretary of State" shall mean the Secretary of State of the State of
Delaware.

         "Securities Act" means the Securities Act of 1933, as amended.

         "Seller" shall mean Caterpillar Financial Funding Corporation in its
capacity as Seller hereunder.

2

         "Statutory Trust Statute" shall mean Chapter 38 of Title 12 of the
Delaware Code, 12 Del. Code ss. 3801 et seq., as the same may be amended from
time to time.

         "Treasury Regulations" shall mean regulations, including proposed or
temporary regulations, promulgated under the Code. References herein to specific
provisions of proposed or temporary regulations shall include analogous
provisions of final Treasury Regulations or other successor Treasury
Regulations.

         "Trust" shall mean the trust established by this Agreement.

SECTION 1.02.     Other Definitional Provisions. (a) Capitalized terms used
herein and not otherwise defined have the meanings assigned to them in the Sale
and Servicing Agreement or, if not defined therein, in the Indenture.

(b)      All terms defined in this Agreement shall have the defined meanings
         when used in any certificate or other document made or delivered
         pursuant hereto unless otherwise defined therein.

(c)      As used in this Agreement and in any  certificate  or other  document made or delivered  pursuant
         hereto or thereto,  accounting  terms not defined in this  Agreement or in any such  certificate  or other
         document,  and  accounting  terms partly  defined in this  Agreement or in any such  certificate  or other
         document to the extent not  defined,  shall have the  respective  meanings  given to them under  generally
         accepted accounting  principles.  To the extent that the definitions of accounting terms in this Agreement
         or in any such  certificate  or other  document  are  inconsistent  with the  meanings of such terms under
         generally  accepted  accounting  principles,  the  definitions  contained in this Agreement or in any such
         certificate or other document shall control.

(d)      The words "hereof," "herein," "hereunder," and words of similar import
         when used in this Agreement shall refer to this Agreement as a whole
         and not to any particular provision of this Agreement; Section and
         Exhibit references contained in this Agreement are references to
         Sections and Exhibits in or to this Agreement unless otherwise
         specified; and the term "including" shall mean "including without
         limitation."

(e)      The definitions contained in this Agreement are applicable to the
         singular as well as the plural forms of such terms and to the masculine
         as well as to the feminine and neuter genders of such terms.

                                   ARTICLE II

                                  ORGANIZATION

SECTION 2.01. Name. The Trust created hereby shall be known as "Caterpillar
Financial Asset Trust 2003-A," in which name the Owner Trustee may conduct the
business of the Trust, make and execute contracts and other instruments on
behalf of the Trust and sue and be sued.

3

SECTION 2.02. Office. The office of the Trust shall be in care of the Owner
Trustee at the Corporate Trust Office or at such other address in the State of
Delaware as the Owner Trustee may designate by written notice to the Seller.

SECTION 2.03. Purpose and Powers. (a) The purpose of the Trust is to engage in
the following activities:

(i)      to issue the Class A-1 Notes, Class A-2 Notes, the Class A-3 Notes and
         the Class B Notes pursuant to the Indenture and the Certificate
         pursuant to this Agreement, and to sell $226,300,000 aggregate
         principal amount of the Class A-1 Notes, $143,000,000 aggregate
         principal amount of Class A-2 Notes, $284,500,000 aggregate principal
         amount of the Class A-3 Notes, $17,000,000 aggregate principal amount
         of Class B Notes to or upon the written order of the Seller pursuant to
         Section 2.01 of the Sale and Servicing Agreement and issue the
         Certificate with an initial Certificate Balance of $10,243,196 to or
         upon the written order of the Seller pursuant to Section 2.01 of the
         Sale and Servicing Agreement;

(ii)     with the proceeds from capital contributions from the Seller to pay the
         organizational, start-up and transactional expenses of the Trust and to
         fund the Reserve Account;

(iii)    to assign, grant, transfer, pledge, mortgage and convey the Trust
         Estate pursuant to the Indenture and to hold, manage and distribute to
         the Owner pursuant to the terms of the Sale and Servicing Agreement and
         this Agreement any portion of the Trust Estate released from the Lien
         of, and remitted to the Trust pursuant to, the Indenture;

(iv)     to enter into and perform its obligations under the Basic Documents to
         which it is to be a party;

(v)      to engage in those activities, including entering into agreements, that
         are necessary, suitable or convenient to accomplish the foregoing or
         are incidental thereto or connected therewith; and

(vi)     subject to compliance with the Basic Documents, to engage in such other
         activities as may be required in connection with conservation of the
         Owner Trust Estate and the making of distributions to the Owner and the
         Noteholders.

The Trust shall not engage in any activity other than in connection with the
foregoing or other than as required or authorized by the terms of this Agreement
or the Basic Documents.

SECTION 2.04. Appointment of Owner Trustee. The Seller hereby appoints the Owner
Trustee as trustee of the Trust effective as of the date hereof, to have all the
rights, powers and duties set forth herein.

SECTION 2.05. Initial Capital Contribution of Trust Estate. The Seller hereby
sells, assigns, transfers, conveys and sets over to the Owner Trustee, as of the
date hereof, the sum of $1. The Owner Trustee hereby acknowledges receipt in
trust from the Seller, as of the date hereof, of the foregoing contribution,
which shall constitute the initial Owner Trust Estate

4

and shall be deposited in the Certificate Distribution Account. The Seller shall pay organizational
expenses of the Trust as they may arise or shall, upon the request of the Owner
Trustee, promptly reimburse the Owner Trustee for any such expenses paid by the
Owner Trustee.

SECTION 2.06. Declaration of Trust. The Owner Trustee hereby declares that it
will hold the Owner Trust Estate in trust upon and subject to the conditions set
forth herein for the use and benefit of the Owner, subject to the obligations of
the Trust under the Basic Documents. It is the intention of the parties hereto
that the Trust constitute a statutory trust under the Statutory Trust Statute
and that this Agreement constitute the governing instrument of such statutory
trust. It is the intention of the parties hereto that, for income and franchise
tax purposes, the Trust shall be treated as a "disregarded entity" and,
therefor, shall be disregarded as an entity separate from the Owner. The parties
agree that, unless otherwise required by appropriate tax authorities, the Trust
will file or cause to be filed annual or other necessary returns, reports and
other forms consistent with the characterization of the Trust as a disregarded
entity for such tax purposes. Effective as of the date hereof, the Owner Trustee
shall have all rights, powers and duties set forth herein and in the Statutory
Trust Statute with respect to accomplishing the purposes of the Trust.

SECTION 2.07. Liability of the Owner. The Owner shall not have any personal
liability for any liability or obligation of the Trust.

SECTION 2.08. Title to Trust Property. Legal title to all the Owner Trust Estate
shall be vested at all times in the Trust as a separate legal entity except
where applicable law in any jurisdiction requires title to any part of the Owner
Trust Estate to be vested in a trustee or trustees, in which case title shall be
deemed to be vested in the Owner Trustee, a co-trustee and/or a separate
trustee, as the case may be.

SECTION 2.09. Situs of Trust. The Trust will be located and administered in the
State of Delaware. All bank accounts maintained by the Owner Trustee on behalf
of the Trust shall be located in the State of Delaware or the State of New York.
The Trust shall not have any employees in any state other than Delaware;
provided, however, that nothing herein shall restrict or prohibit the Owner
Trustee from having employees within or without the State of Delaware. Payments
will be received by the Trust only in Delaware or New York, and payments will be
made by the Trust only from Delaware or New York. The only office of the Trust
will be at the Corporate Trust Office in Delaware.

SECTION 2.10. Representations and Warranties of Seller. The Seller hereby
represents and warrants to the Owner Trustee that:

(a)      The Seller is duly organized and validly existing as a corporation in
         good standing under the laws of the State of Nevada, with power and
         authority to own its properties and to conduct its business as such
         properties are currently owned and such business is presently
         conducted.

(b)      The Seller is duly qualified to do business as a foreign corporation in
         good standing, and has obtained all necessary licenses and approvals in
         all jurisdictions in which the failure to so qualify or to obtain such
         license or approval would render any

5

         Receivable unenforceable that
         would otherwise be enforceable by the Seller, the Servicer or the Owner
         Trustee.

(c)      The Seller has the power and authority to execute and deliver this
         Agreement and to carry out its terms; the Seller has full power and
         authority to sell and assign the property to be sold and assigned to
         and deposited with the Trust and the Seller shall have duly authorized
         such sale and assignment and deposit to the Trust by all necessary
         corporate action; and the execution, delivery and performance of this
         Agreement has been duly authorized by the Seller by all necessary
         corporate action.

(d)      The  consummation of the  transactions  contemplated by this Agreement
         and the fulfillment of the terms  hereof do not  conflict  with,
         result in any  breach  of any of the  terms and  provisions  of, or
         constitute  (with or without notice or lapse of time) a default under,
         the  certificate of  incorporation or by-laws of the Seller,  or any
         indenture,  agreement or other instrument to which the Seller is a
         party or by which it is bound;  nor result in the creation or
         imposition of any Lien upon any of its  properties pursuant to the
         terms of any such  indenture,  agreement or other  instrument  (other
         than pursuant to the Basic  Documents);  nor  violate any law or, to
         the best of the  Seller's  knowledge,  any order,  rule or regulation
         applicable  to the  Seller of any  court,  federal or state  regulatory
         body,  administrative agency or other governmental instrumentality
         having jurisdiction over the Seller or its properties.

(e)      There are no proceedings or investigations pending, or, to the best of
         Seller's knowledge, threatened, before any court, federal or state
         regulatory body, administrative agency or other governmental
         instrumentality having jurisdiction over the Seller or its properties
         which (i) assert the invalidity of this Agreement or any of the Basic
         Documents, (ii) seek to prevent the consummation of any of the
         transactions contemplated by this Agreement or any of the Basic
         Documents, or (iii) seek any determination or ruling that might
         materially and adversely affect the performance by the Seller of its
         obligations under, or the validity or enforceability of, this Agreement
         or any of the Basic Documents.

SECTION 2.11. Amended and Restated Trust Agreement. This Agreement amends and
restates in its entirety the Trust Agreement dated as of May 15, 2003 between
the Seller and Owner Trustee.

                                  ARTICLE III

                     CERTIFICATES AND TRANSFER OF INTERESTS

SECTION 3.01. Initial Ownership. Upon the formation of the Trust by the
contribution by the Seller pursuant to Section 2.05 and thereafter so long as
the Seller remains the "Owner," the Seller shall be the sole beneficiary of the
Trust. Notwithstanding any other provision of this Agreement, the interest of
the Seller in the Trust (including its interest by virtue of being the Holder of
the Certificate) shall be transferable only in whole and any successor to the
Seller pursuant to such a transfer shall thenceforth be deemed the Seller for
purposes of this Agreement. No such transfer shall be effective until such time
as written notice thereof signed

5

by both the transferor and transferee and an
executed copy of the Certificateholder Certification are delivered to the Owner
Trustee.

SECTION 3.02. Form of Certificates. The Certificate shall be issued in an
original Certificate Balance of $10,243,196. The Certificate shall be executed
on behalf of the Trust by manual or facsimile signature of a Trust Officer of
the Owner Trustee. The Certificate bearing the manual or facsimile signatures of
individuals who were, at the time when such signatures shall have been affixed,
authorized to sign on behalf of the Trust, shall, when duly authenticated
pursuant to Section 3.03, be validly issued and entitled to the benefits of this
Agreement, notwithstanding that such individuals or any of them shall have
ceased to be so authorized prior to the authentication and delivery of the
Certificate or did not hold such offices at the date of authentication and
delivery of the Certificate.

SECTION 3.03. Authentication of the Certificate. Concurrently with the initial
sale of the Receivables to the Trust pursuant to the Sale and Servicing
Agreement, the Owner Trustee shall cause the Certificate in a principal amount
equal to the initial Certificate Balance to be executed on behalf of the Trust,
authenticated and delivered to or upon the written order of the Seller, signed
by its Chairman of the Board, its President, any Vice President, its Treasurer,
its Secretary or any Assistant Treasurer, without further corporate action by
the Seller. The Certificate shall not entitle its Holder to any benefit under
this Agreement, or be valid for any purpose, unless there shall appear on the
Certificate a certificate of authentication substantially in the form set forth
in Exhibit A executed by the Owner Trustee or the Owner Trustee's authentication
agent, by manual signature; such authentication shall constitute conclusive
evidence that the Certificate shall have been duly authenticated and delivered
hereunder. The Certificate shall be dated the date of its authentication.

SECTION 3.04. Registration of Transfer of the Certificate. The Certificate
Registrar shall keep or cause to be kept, at the office or agency maintained
pursuant to Section 3.08, a Certificate Register in which, subject to such
reasonable regulations as it may prescribe, the Owner Trustee shall provide for
the registration of the Certificate and of transfers of the Certificate as
herein provided. JPMorgan Chase Bank shall be the initial Certificate Registrar.

         Upon surrender for registration of transfer of the Certificate at the
office or agency maintained pursuant to Section 3.08, the Owner Trustee shall
execute, authenticate and deliver (or shall cause its authenticating agent to
authenticate and deliver), in the name of the designated transferee or
transferees, a new Certificate of a like aggregate amount dated the date of
authentication by the Owner Trustee or any authenticating agent. The Owner
Trustee shall not register a transfer of any Certificate unless the transferee
of the Certificate delivers to the Certificate Registrar and authenticating
agent an executed Certificateholder Certification.

         The Certificate presented or surrendered for registration of transfer
shall be accompanied by a written instrument of transfer in form satisfactory to
the Owner Trustee and the Certificate Registrar duly executed by the Holder or
its attorney duly authorized in writing, along with a Certificateholder
Certification duly executed by the transferee of such Certificate. The
Certificate surrendered for registration of transfer shall be cancelled and
subsequently disposed of by the Owner Trustee in accordance with its customary
practice.

7

         No service charge shall be made for any registration of transfer of the
Certificate, but the Owner Trustee or the Certificate Registrar may require
payment of a sum sufficient to cover any tax or governmental charge that may be
imposed in connection with any transfer or exchange of the Certificate.

         The Certificate has not been and will not be registered under the
Securities Act, or any state securities laws and neither the Certificate nor any
interest therein may be offered, sold, pledged or otherwise transferred except
in accordance with applicable securities laws of any state of the United States
and in reliance on the private placement exemption of the Securities Act. The
Trustee may (but shall not be obligated) at any time or times request an Opinion
of Counsel as to compliance with this restriction in connection with any
transfer of a Certificate.

SECTION 3.05. Mutilated, Destroyed, Lost or Stolen Certificate. If (a) the
Certificate is mutilated and shall be surrendered to the Certificate Registrar,
or if the Certificate Registrar shall receive evidence to its satisfaction of
the destruction, loss or theft of the Certificate and (b) there shall be
delivered to the Certificate Registrar and the Owner Trustee such security or
indemnity as may be required by them to save each of them harmless, then in the
absence of notice that the Certificate shall have been acquired by a protected
purchaser, the Owner Trustee on behalf of the Trust shall execute and the Owner
Trustee, or the Owner Trustee's authenticating agent, shall authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of like tenor and denomination. In
connection with the issuance of any new Certificate under this Section, the
Owner Trustee or the Certificate Registrar may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith. Any duplicate Certificate issued pursuant to this Section
shall constitute conclusive evidence of an ownership interest in the Trust, as
if originally issued, whether or not the lost, stolen or destroyed Certificate
shall be found at any time.

SECTION 3.06. Persons Deemed Owner. Prior to due presentation of the Certificate
for registration of transfer, the Owner Trustee or the Certificate Registrar may
treat the Person in whose name a Certificate is registered in the Certificate
Register as the owner of such Certificate for the purpose of receiving
distributions pursuant to Section 5.02 and for all other purposes whatsoever,
and neither the Owner Trustee nor the Certificate Registrar shall be bound by
any notice to the contrary.

SECTION 3.07. Access to List of Certificateholder's Names and Addresses. The
Owner Trustee shall furnish or cause to be furnished to the Servicer and the
Seller, within 15 days after receipt by the Owner Trustee of a request therefor
from the Servicer or the Seller in writing, the name and address of the
Certificateholder as of the most recent Record Date. The Holder, by receiving
and holding the Certificate, shall be deemed to have agreed not to hold either
the Seller or the Owner Trustee accountable by reason of the disclosure of its
name and address, regardless of the source from which such information was
derived.

SECTION 3.08. Maintenance of Office or Agency. The Owner Trustee shall maintain
in the Borough of Manhattan, in the City of New York, an office or offices or
agency or agencies where notices and demands to or upon the Owner Trustee in
respect of the Certificate and the Basic Documents may be served. The Owner
Trustee initially designates JPMorgan

8

Chase Bank, 4 New York Plaza, New York, New York 10004 as its principal
corporate trust office for such purposes. The
Owner Trustee shall give prompt written notice to the Seller of any change in
the location of the Certificate Register or any such office or agency.

SECTION 3.09. Appointment of Paying Agents. The Paying Agent shall make
distributions to the Certificateholder from the Certificate Distribution Account
pursuant to Section 5.02 and shall report the amounts of such distributions to
the Owner Trustee. Any Paying Agent shall have the revocable power to withdraw
funds from the Certificate Distribution Account for the purpose of making the
distributions referred to above. The Owner Trustee may revoke such power and
remove the Paying Agent if the Owner Trustee determines in its sole discretion
that the Paying Agent shall have failed to perform its obligations under this
Agreement in any material respect. The Paying Agent shall initially be JPMorgan
Chase Bank, and any co-paying agent chosen by JPMorgan Chase Bank, and
acceptable to the Owner Trustee. JPMorgan Chase Bank shall be permitted to
resign as Paying Agent upon 30 days' written notice to the Owner Trustee. In the
event that JPMorgan Chase Bank shall no longer be the Paying Agent, the Owner
Trustee shall appoint a successor to act as Paying Agent (which shall be a bank
or trust company). The Owner Trustee shall cause such successor Paying Agent or
any additional Paying Agent appointed by the Owner Trustee to execute and
deliver to the Owner Trustee an instrument in which such successor Paying Agent
or additional Paying Agent shall agree with the Owner Trustee that as Paying
Agent, such successor Paying Agent or additional Paying Agent will hold all
sums, if any, held by it for payment to the Certificateholder in trust for the
benefit of the Certificateholder entitled thereto until such sums shall be paid
to the Certificateholder. The Paying Agent shall return all unclaimed funds to
the Owner Trustee and upon removal of a Paying Agent such Paying Agent shall
also return all funds in its possession to the Owner Trustee. The provisions of
Sections 7.01, 7.03, 7.04 and 8.01 shall apply to the Owner Trustee also in its
role as Paying Agent, for so long as the Owner Trustee shall act as Paying Agent
and, to the extent applicable, to any other paying agent appointed hereunder.
Any reference in this Agreement to the Paying Agent shall include any co-paying
agent unless the context requires otherwise.

                                  ARTICLE IV

                            ACTIONS BY OWNER TRUSTEE

SECTION 4.01. Prior Notice to Owner with Respect to Certain Matters. With
respect to the following matters, the Owner Trustee shall not take action unless
at least 30 days before the taking of such action, the Owner Trustee shall have
notified the Certificateholder in writing of the proposed action and the Holder
shall not have notified the Owner Trustee in writing prior to the 30th day after
such notice is given that the Holder has withheld consent or provided
alternative direction:

(a)      the initiation of any claim or lawsuit by the Trust (other than an
         action to collect on a Receivable) and the compromise of any action,
         claim or lawsuit brought by or against the Trust (other than an action
         to collect on a Receivable);

(b)      the election by the Trust to file an amendment to the Certificate of Trust;

9

(c)      the amendment of the Indenture by a supplemental indenture in
         circumstances where the consent of any Noteholder is required;

(d)      the amendment of the Indenture by a supplemental indenture in
         circumstances where the consent of any Noteholder is not required and
         such amendment materially adversely affects the interest of the Owner;

(e)      the amendment, change or modification of the Administration Agreement,
         except to cure any ambiguity or to amend or supplement any provision in
         a manner that would not materially adversely affect the interests of
         the Owner; or

(f)      the appointment pursuant to the Indenture of a successor Note
         Registrar, Paying Agent or Trustee or the appointment pursuant to this
         Agreement of a successor Certificate Registrar, or the consent to the
         assignment by the Note Registrar, Paying Agent or Trustee or
         Certificate Registrar of its obligations under the Indenture or this
         Agreement, as applicable.

SECTION 4.02. Action By the Owner with Respect to Certain Matters. The Owner
Trustee shall not have the power, except upon the direction of the Owner, to (a)
remove the Administrator under the Administration Agreement pursuant to Section
8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the
Administration Agreement, (c) remove the Servicer under the Sale and Servicing
Agreement pursuant to Section 8.01 thereof or (d) except as expressly provided
in the Basic Documents, sell the Receivables after the termination of the
Indenture. The Owner Trustee shall take the actions referred to in the preceding
sentence only upon written instructions signed by the Owner.

SECTION 4.03. Action By Owner with Respect to Bankruptcy. The Owner Trustee
shall not have the power to commence a voluntary proceeding in bankruptcy
relating to the Trust without the prior approval of the Owner and the delivery
to the Owner Trustee by the Owner of a certificate certifying that the Owner
reasonably believes that the Trust is insolvent.

SECTION 4.04. Restrictions on Owner's Power. The Owner shall not direct the
Owner Trustee to take or refrain from taking any action if such action or
inaction would be contrary to any obligation of the Trust or the Owner Trustee
under this Agreement or any of the Basic Documents or would be contrary to
Section 2.03 nor shall the Owner Trustee be obligated to follow any such
direction, if given.

                                   ARTICLE V

                   APPLICATION OF TRUST FUNDS; CERTAIN DUTIES

SECTION 5.01. Establishment of Trust Account. The Owner Trustee, for the benefit
of the Certificateholder, shall establish and maintain in the name of the Trust
an Eligible Securities Account (the "Certificate Distribution Account"), bearing
a designation clearly indicating that the funds deposited therein are held for
the benefit of the Certificateholder.

         The Owner Trustee shall possess all right, title and interest in all
funds on deposit from time to time in the Certificate Distribution Account and
in all proceeds thereof. Except as

10

otherwise provided herein, the Certificate Distribution Account shall be under
the sole dominion and control of the Owner Trustee for the benefit of the
Certificateholder. If, at any time, the Certificate Distribution Account ceases
to be an Eligible Securities Account, the Owner Trustee shall within 10 Business
Days following notification of such occurrence (or such longer period, not to
exceed 30 calendar days, as to which each Rating Agency may consent) establish
a new Certificate Distribution Account as an Eligible Securities Account and
shall transfer any cash and/or any investments to such new Certificate
Distribution Account.

SECTION 5.02. Application of Trust Funds. (a) On each Distribution Date, the
Owner Trustee will distribute amounts deposited in the Certificate Distribution
Account pursuant to Sections 5.04 and 5.05 of the Sale and Servicing Agreement
or pursuant to Section 5.04(b) or 5.04(c) of the Indenture on or before such
Distribution Date as follows:

(i)      to the Certificateholder, to the extent necessary to reduce the
         Certificate Balance of the Certificate to zero, an amount equal to the
         excess if any, of the Regular Principal Distribution Amount for such
         Distribution Date over amounts distributable to the Noteholders
         pursuant to Section 5.04(c) of the Sale and Servicing Agreement on such
         Distribution Date; and

(ii)     to the Seller, any remaining funds on deposit in the Certificate
         Distribution Account after distribution to the Certificateholder
         pursuant to the clause (i) above.

(b)      On each Distribution Date, the Owner Trustee shall send to the
         Certificateholder the statement provided to the Owner Trustee by the
         Servicer pursuant to Section 5.07(a) of the Sale and Servicing
         Agreement on such Distribution Date.

(c)               In the event that any  withholding  tax is imposed on the  Trust's  payment  (or  allocations  of
         income)  to the  Owner,  such  tax  shall  reduce  the  amount  otherwise  distributable  to the  Owner in
         accordance  with this  Section.  The Owner  Trustee  is hereby  authorized  and  directed  to retain  from
         amounts  otherwise  distributable to the Owner sufficient funds for the payment of any tax that is legally
         owed or required to be withheld by the Trust (but such  authorization  shall not prevent the Owner Trustee
         from  contesting  any such tax in  appropriate  proceedings,  and  withholding  payment  of such  tax,  if
         permitted by law,  pending the outcome of such  proceedings).  The amount of any  withholding  tax imposed
         with  respect to the Owner  shall be treated as cash  distributed  to the Owner at the time it is withheld
         by  the  Trust  and  remitted  to the  appropriate  taxing  authority.  If  there  is a  possibility  that
         withholding  tax is payable with respect to a  distribution,  the Owner Trustee may in its sole discretion
         withhold  such  amounts in  accordance  with this clause (c). In the event that the Owner  wishes to apply
         for a refund of any such withholding  tax, the Owner Trustee shall reasonably  cooperate with the Owner in
         making  such  claim so long as the Owner  agrees to  reimburse  the Owner  Trustee  for any  out-of-pocket
         expenses incurred.

SECTION 5.03. Method of Payment. Subject to Section 9.01(c), distributions
required to be made to the Certificateholder on any Distribution Date shall be
made to the Certificateholder of record on the preceding Record Date either by
wire transfer, in immediately available funds, to the account of such Holder at
a bank or other entity having appropriate

11

facilities therefor, if the Certificateholder shall have provided to the
Certificate Registrar appropriate written instructions at least five Business
Days prior to such Distribution Date or, if not, by check mailed to the
Certificateholder at the address of such Holder appearing in the Certificate
Register.

SECTION 5.04. No Segregation of Monies; No Interest. Subject to Section 5.01 and
5.02, monies received by the Owner Trustee hereunder need not be segregated in
any manner except to the extent required by law or the Sale and Servicing
Agreement and may be deposited under such general conditions as may be
prescribed by law, and the Owner Trustee shall not be liable for any interest
thereon.

SECTION 5.05. Accounting and Report to the Noteholders, the Owner, the Internal
Revenue Service and Others. The Owner Trustee shall (a) maintain (or cause to be
maintained) the books of the Trust on a fiscal year basis ending December 31,
(or such other period as may be required by applicable law), with the first year
being a short year ending December 31, 2003, and on the accrual method of
accounting, (b) deliver to the Owner, as may be required by the Code and
applicable Treasury Regulations, such information as may be required to enable
each Owner to prepare its federal and state income tax returns, and make such
elections as may from time to time be required or appropriate under any
applicable state or federal statute or rule or regulation thereunder so as to
maintain the Trust's characterization as a disregarded entity for federal income
tax purposes and (c) collect or cause to be collected any withholding tax as
described in and in accordance with Section 5.02(c) with respect to
distributions from the Trust.

                                  ARTICLE VI

                      AUTHORITY AND DUTIES OF OWNER TRUSTEE

SECTION 6.01. General Authority. The Owner Trustee is authorized and directed to
execute and deliver the Basic Documents to which the Trust is to be a party and
each certificate or other document attached as an exhibit to or contemplated by
the Basic Documents to which the Trust is to be a party, or any amendment
thereto or other agreement, in each case, in such form as the Seller shall
approve as evidenced conclusively by the Owner Trustee's execution thereof. In
addition to the foregoing, the Owner Trustee is authorized, but shall not be
obligated, to take all actions required of the Trust pursuant to the Basic
Documents. The Owner Trustee is further authorized from time to time to take
such action as the Administrator directs in writing with respect to the Basic
Documents.

SECTION 6.02. General Duties. It shall be the duty of the Owner Trustee to
discharge (or cause to be discharged) all of its responsibilities pursuant to
the terms of this Agreement and the Basic Documents and to administer the Trust
in the interest of the Owner, subject to the Basic Documents and in accordance
with the provisions of this Agreement. Notwithstanding the foregoing, the Owner
Trustee shall be deemed to have discharged its duties and responsibilities
hereunder and under the Basic Documents to the extent the Administrator has
agreed in the Administration Agreement to perform any act or to discharge any
duty of the Owner Trustee hereunder or under any Basic Document, and the Owner
Trustee shall not be liable for the default or failure of the Administrator to
carry out its obligations under the Administration Agreement.

12

SECTION 6.03. Action Upon Instruction. (a) Subject to Article IV, the Owner may,
by written instruction, direct the Owner Trustee in the management of the Trust.
Such direction may be exercised at any time by written instruction of the Owner
pursuant to Article IV.

(b)      The Owner Trustee shall not be required to take any action hereunder or
         under any Basic Document if the Owner Trustee shall have reasonably
         determined, or shall have been advised by counsel, that such action is
         likely to result in liability on the part of the Owner Trustee or is
         contrary to the terms hereof or of any Basic Document or is otherwise
         contrary to law.

(c)               Whenever the Owner Trustee is unable to decide between  alternative  courses of action  permitted
         or required by the terms of this  Agreement or any Basic  Document,  the Owner Trustee shall promptly give
         notice  (in  such  form  as  shall  be  appropriate  under  the  circumstances)  to the  Owner  requesting
         instruction  as to the course of action to be adopted,  and to the extent the Owner  Trustee  acts in good
         faith in accordance  with any written  instruction of the Owner  received,  the Owner Trustee shall not be
         liable  on  account  of  such  action  to any  Person.  If the  Owner  Trustee  shall  not  have  received
         appropriate  instruction  within  ten days of such  notice  (or  within  such  shorter  period  of time as
         reasonably  may be  specified  in such notice or may be  necessary  under the  circumstances)  it may, but
         shall be under no duty to, take or refrain from taking such action,  not inconsistent  with this Agreement
         or the Basic  Documents,  as it shall  deem to be in the best  interest  of the  Owner,  and shall have no
         liability to any Person for such action or inaction.

(d)               In the event that the Owner  Trustee is unsure as to the  application  of any  provision  of this
         Agreement  or any Basic  Document or any such  provision is  ambiguous  as to its  application,  or is, or
         appears to be, in  conflict  with any other  applicable  provision,  or in the event  that this  Agreement
         permits any  determination  by the Owner  Trustee or is silent or is incomplete as to the course of action
         that the Owner  Trustee is required to take with respect to a particular  set of facts,  the Owner Trustee
         may give notice (in such form as shall be appropriate  under the  circumstances)  to the Owner  requesting
         instruction  and,  to the extent  that the Owner  Trustee  acts or  refrains  from acting in good faith in
         accordance with any such instruction  received,  the Owner Trustee shall not be liable, on account of such
         action or inaction,  to any Person. If the Owner Trustee shall not have received  appropriate  instruction
         within 10 days of such notice (or within such  shorter  period of time as  reasonably  may be specified in
         such notice or may be necessary  under the  circumstances)  it may, but shall be under no duty to, take or
         refrain from taking such action,  not  inconsistent  with this  Agreement  or the Basic  Documents,  as it
         shall deem to be in the best  interests  of the Owner and shall have no  liability  to any Person for such
         action or inaction.

SECTION 6.04. No Duties Except as Specified in This Agreement or in Instructions.
The Owner Trustee shall not have any duty or obligation to manage,
make any payment with respect to, register, record, sell, dispose of, or
otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from
taking any action under, or in connection with, any document contemplated hereby
to which the Owner Trustee is a party, except as expressly

13

provided by the terms of this Agreement or in any document or written
instruction received by the Owner Trustee pursuant to Section 6.03; and no
implied duties or obligations shall be read into this Agreement or any Basic
Document against the Owner Trustee. The Owner Trustee shall have no
responsibility for filing any financing or continuation statement in any public
office at any time or to otherwise perfect or maintain the perfection of any
security interest or lien granted to it hereunder or to prepare or file any
Securities and Exchange Commission filing for the Trust or to record this
Agreement or any Basic Document. The Owner Trustee nevertheless agrees that it
will, at its own cost and expense, promptly take all action as may be necessary
to discharge any liens on any part of the Owner Trust Estate that result from
actions by, or claims against, the Owner Trustee that are not related to the
ownership or the administration of the Owner Trust Estate.

SECTION 6.05. No Action Except under Specified Documents or Instructions. The
Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal
with any part of the Owner Trust Estate except (i) in accordance with the powers
granted to and the authority conferred upon the Owner Trustee pursuant to this
Agreement, (ii) in accordance with the Basic Documents and (iii) in accordance
with any document or instruction delivered to the Owner Trustee pursuant to
Section 6.03.

SECTION 6.06. Restrictions. The Owner Trustee shall not take any action (a) that
is inconsistent with the purposes of the Trust set forth in Section 2.03 or (b)
that, to the actual knowledge of the Owner Trustee, would result in the Trust
being treated as a association (or publicly traded partnership) taxable as a
corporation for federal income tax purposes. The Owner Trustee and the Seller
agree that no election to treat the Trust as an association (or publicly traded
partnership) taxable as a corporation for United States Federal income tax
purposes or any relevant state tax purposes shall be made by or on behalf of the
Trust. The Owner shall not direct the Owner Trustee or the Seller to take action
that would violate the provisions of this Section.

                                ARTICLE VII

                          CONCERNING THE OWNER TRUSTEE

SECTION 7.01. Acceptance of Trusts and Duties. The Owner Trustee accepts the
trusts hereby created and agrees to perform its duties hereunder with respect to
such trusts but only upon the terms of this Agreement. The Owner Trustee also
agrees to disburse all moneys actually received by it constituting part of the
Owner Trust Estate upon the terms of the Basic Documents and this Agreement. The
Owner Trustee shall not be answerable or accountable hereunder or under any
Basic Document under any circumstances, except (i) for its own willful
misconduct or negligence or (ii) in the case of the inaccuracy of any
representation or warranty contained in Section 7.03 expressly made by the Owner
Trustee. In particular, but not by way of limitation (and subject to the
exceptions set forth in the preceding sentence):

(a)      the Owner Trustee shall not be liable for any error of judgment made by
         a responsible officer of the Owner Trustee;

14

(b)      the Owner Trustee shall not be liable with respect to any action taken
         or omitted to be taken by it in accordance with the instructions of the
         Administrator or the Owner;

(c)      no provision of this Agreement or any Basic Document shall require the
         Owner Trustee to expend or risk funds or otherwise incur any financial
         liability in the performance of any of its rights or powers hereunder
         or under any Basic Document, if the Owner Trustee shall have reasonable
         grounds for believing that repayment of such funds or adequate
         indemnity against such risk or liability is not reasonably assured or
         provided to it;

(d)      under no circumstances shall the Owner Trustee be liable for
         indebtedness evidenced by or arising under any of the Basic Documents,
         including the principal of and interest on the Notes;
(e)      the Owner Trustee shall not be responsible for or in respect of the
         validity or sufficiency of this Agreement or for the due execution
         hereof by the Seller or for the form, character, genuineness,
         sufficiency, value or validity of any of the Owner Trust Estate or for
         or in respect of the validity or sufficiency of the Basic Documents,
         other than the certificate of authentication on the Certificates, and
         the Owner Trustee shall in no event assume or incur any liability,
         duty, or obligation to any Noteholder or to the Owner, other than as
         expressly provided for herein and in the Basic Documents;

(f)      the Owner Trustee shall not be liable for the default or misconduct of
         the Administrator, the Indenture Trustee or the Servicer under any of
         the Basic Documents or otherwise, and the Owner Trustee shall have no
         obligation or liability to perform the obligations of the Trust under
         this Agreement or the Basic Documents that are required to be performed
         by the Administrator under the Administration Agreement, the Indenture
         Trustee under the Indenture or the Servicer under the Sale and
         Servicing Agreement; and

(g)      the Owner  Trustee  shall be under no  obligation  to exercise any of the rights or powers vested
         in it by this  Agreement,  or to  institute,  conduct or defend any  litigation  under this  Agreement  or
         otherwise or in relation to this Agreement or any Basic  Document,  at the request,  order or direction of
         the Owner,  unless the Owner has offered to the Owner  Trustee  security or indemnity  satisfactory  to it
         against  the  costs,  expenses  and  liabilities  that may be  incurred  by the Owner  Trustee  therein or
         thereby.  The right of the Owner Trustee to perform any  discretionary  act  enumerated in this  Agreement
         or in any Basic  Document  shall not be construed as a duty, and the Owner Trustee shall not be answerable
         for other than its negligence or willful misconduct in the performance of any such act.

SECTION 7.02. Furnishing of Documents. The Owner Trustee shall furnish (a) to
the Owner promptly upon receipt of a written request therefor, duplicates or
copies of all reports, notices, requests, demands, certificates, financial
statements and any other instruments furnished to the Owner Trustee under the
Basic Documents and (b) to the Indenture Trustee promptly upon written request
therefor, copies of the Purchase Agreement, the Sale and Servicing Agreement,
the Administration Agreement and the Trust Agreement.

15

SECTION 7.03. Representations and Warranties. The Owner Trustee hereby
represents and warrants to the Owner that:

(a)      It is a banking association duly organized and validly existing in good
         standing under the federal laws of the United States. It has all
         requisite corporate power and authority to execute, deliver and perform
         its obligations under this Agreement.

(b)      It has taken all corporate action necessary to authorize the execution
         and delivery by it of this Agreement, and this Agreement has been
         executed and delivered by one of its officers who is duly authorized to
         execute and deliver this Agreement on its behalf.

(c)      Neither the execution nor the delivery by it of this Agreement, nor the
         consummation by it of the transactions contemplated hereby nor
         compliance by it with any of the terms or provisions hereof will
         contravene any federal or Delaware law, governmental rule or regulation
         governing the banking or trust powers of the Owner Trustee or any
         judgment or order binding on it, or constitute any default under its
         charter documents or by-laws or any indenture, mortgage, contract,
         agreement or instrument to which it is a party or by which any of its
         properties may be bound.

SECTION 7.04. Reliance; Advice of Counsel. (a) The Owner Trustee shall incur no
liability to anyone in acting upon any signature, instrument, notice,
resolution, request, consent, order, certificate, report, opinion, bond, or
other document or paper believed by it to be genuine and believed by it to be
signed by the proper party or parties. The Owner Trustee may accept a certified
copy of a resolution of the board of directors or other governing body of any
corporate party as conclusive evidence that such resolution has been duly
adopted by such body and that the same is in full force and effect. As to any
fact or matter the method of the determination of which is not specifically
prescribed herein, the Owner Trustee may for all purposes hereof rely on a
certificate, signed by the president or any vice president or by the treasurer
or other authorized officers of the relevant party, as to such fact or matter,
and such certificate shall constitute full protection to the Owner Trustee for
any action taken or omitted to be taken by it in good faith in reliance thereon.

(b)      In the exercise or  administration  of the trusts  hereunder and in the performance of its duties
         and  obligations  under this Agreement or the Basic  Documents,  the Owner Trustee (i) may act directly or
         through  its agents or  attorneys  pursuant to  agreements  entered  into with any of them,  and the Owner
         Trustee  shall not be liable for the conduct or  misconduct  of such agents or attorneys if such agents or
         attorneys  shall have been selected by the Owner Trustee with  reasonable  care, and (ii) may consult with
         counsel,  accountants  and other skilled  persons to be selected with  reasonable care and employed by it.
         The Owner  Trustee  shall not be liable  for  anything  done,  suffered  or omitted in good faith by it in
         accordance with the written opinion or advice of any such counsel, accountants or other such persons.

SECTION 7.05. Not Acting in Individual Capacity. Except as provided in this
Article VII, in accepting the trusts hereby created, Chase Manhattan Bank USA,
National Association acts solely as Owner Trustee hereunder and not in its
individual capacity and all

16

Persons having any claim against the Owner Trustee
by reason of the transactions contemplated by this Agreement or any Basic
Document shall look only to the Owner Trust Estate for payment or satisfaction
thereof.

SECTION 7.06. Owner Trustee Not Liable for the Certificate, Notes or Receivables.
The recitals contained herein and in the Certificate (other than
the signature and counter-signature of the Owner Trustee on the Certificate and
its representations and warranties in Section 7.03) shall not be taken as the
statements of the Owner Trustee and the Owner Trustee assumes no responsibility
for the correctness thereof. The Owner Trustee makes no representations as to
the validity or sufficiency of this Agreement, or of the Certificate (other than
the signature and countersignature of the Owner Trustee on the Certificate), or
the Notes or of any other Basic Document or of any Receivable or related
documents. The Owner Trustee shall at no time have any responsibility or
liability for or with respect to the legality, validity and enforceability of
any Receivable, or the perfection and priority of any security interest created
by any Receivable in any Financed Equipment or the maintenance of any such
perfection and priority, or for or with respect to the sufficiency of the Owner
Trust Estate or its ability to generate the payments to be distributed to the
Certificateholder under this Agreement or the Noteholders under the Indenture,
including, without limitation: the existence, condition and ownership of any
Financed Equipment; the existence and enforceability of any insurance thereon;
the existence and contents of any Receivable on any computer or other record
thereof; the validity of the assignment of any Receivable to the Trust or of any
intervening assignment; the completeness of any Receivable; the performance or
enforcement of any Receivable; the compliance by the Seller or the Servicer with
any warranty or representation made under any Basic Document or in any related
document or the accuracy of any such warranty or representation or any action of
the Administrator, the Indenture Trustee or the Servicer or any subservicer
taken in the name of the Owner Trustee.

SECTION 7.07. Owner Trustee May Own the Certificate and Notes. The Owner Trustee
in its individual or any other capacity may become the Owner or pledgee of the
Certificate or the Notes and may deal with the Seller, the Administrator, the
Indenture Trustee and the Servicer in banking transactions with the same rights
as it would have if it were not Owner Trustee.

                                  ARTICLE VIII

                          COMPENSATION OF OWNER TRUSTEE

SECTION 8.01. Owner Trustee's Fees and Expenses. The Owner Trustee shall receive
as compensation for its services hereunder such fees as have been separately
agreed upon before the date hereof between the Seller and the Owner Trustee, and
the Owner Trustee shall be entitled to be reimbursed by the Seller for its other
reasonable expenses hereunder, including the reasonable compensation, expenses
and disbursements of such agents, representatives, experts and counsel as the
Owner Trustee may employ in connection with the exercise and performance of its
rights and its duties hereunder; provided, however, that the Owner Trustee's
right to enforce such obligation shall be subject to the provisions of Section 11.09.

17

SECTION 8.02. Indemnification. The Seller shall be liable as primary obligor
for, and shall indemnify the Owner Trustee and its successors, assigns, agents
and servants (collectively, the "Indemnified Parties") from and against, any and
all liabilities, obligations, losses, damages, taxes, claims, actions and suits,
and any and all reasonable costs, expenses and disbursements (including
reasonable legal fees and expenses) of any kind and nature whatsoever
(collectively, "Expenses") which may at any time be imposed on, incurred by, or
asserted against the Owner Trustee or any Indemnified Party in any way relating
to or arising out of this Agreement, the Basic Documents, the Owner Trust
Estate, the administration of the Owner Trust Estate or the action or inaction
of the Owner Trustee hereunder, except only that the Seller shall not be liable
for or required to indemnify the Owner Trustee from and against Expenses arising
or resulting from any of the matters described in the third sentence of Section
7.01;  provided, however, that the Owner Trustee's right to enforce such
obligation shall be subject to the provisions of Section 11.09. The indemnities
contained in this Section shall survive the resignation or termination of the
Owner Trustee or the termination of this Agreement. In any event of any claim,
action or proceeding for which indemnity will be sought pursuant to this
Section, the Owner Trustee's choice of legal counsel shall be subject to the
approval of the Seller, which approval shall not be unreasonably withheld.

SECTION 8.03. Payments to the Owner Trustee. Any amounts paid to the Owner
Trustee pursuant to this Article VIII shall be deemed not to be a part of the
Owner Trust Estate immediately after such payment.

                                  ARTICLE IX

                         TERMINATION OF TRUST AGREEMENT

SECTION 9.01. Termination of Trust Agreement. (a) This Agreement (other than
Article VIII and Section 11.09) and the Trust shall terminate and be of no
further force or effect, upon the final distribution by the Owner Trustee of all
moneys or other property or proceeds of the Owner Trust Estate in accordance
with the terms of the Indenture, the Sale and Servicing Agreement and Article V.
Any money or other property held as part of the Owner Trust Estate following
such distribution shall be distributed to the Seller. The bankruptcy,
liquidation, dissolution, death or incapacity of the Owner shall not (x) operate
to terminate this Agreement or the Trust, or (y) entitle the Owner's legal
representatives or heirs to claim an accounting or to take any action or
proceeding in any court for a partition or winding up of all or any part of the
Trust or Owner Trust Estate or (z) otherwise affect the rights, obligations and
liabilities of the parties hereto.

(b)      Except as provided in Section 9.01(a), neither the Seller nor the Owner
         shall be entitled to revoke or terminate the Trust.

(c)      Notice  of any  termination  of the  Trust,  specifying  the  Distribution  Date  upon  which the
         Certificateholder  shall  surrender  the  Certificate  to the  Paying  Agent  for  payment  of  the  final
         distribution  and  cancellation,  shall be given by the Owner  Trustee by letter to the  Certificateholder
         mailed  within  five  Business  Days of  receipt of notice of such  termination  from the  Servicer  given
         pursuant to  Section 9.01(c) of the Sale and Servicing  Agreement,  stating (i) the Distribution Date upon
         or with respect to which final

18

         payment of the Certificate  shall be made upon  presentation  and surrender
         of the  Certificate  at the office of the Paying  Agent  therein  designated,  (ii) the amount of any such
         final  payment  and (iii) that the Record  Date  otherwise  applicable  to such  Distribution  Date is not
         applicable,  payments being made only upon  presentation and surrender of the Certificate at the office of
         the  Paying  Agent  therein  specified.  The  Owner  Trustee  shall  give such  notice to the  Certificate
         Registrar  (if other than the Owner  Trustee) and the Paying Agent at the time such notice is given to the
         Certificateholder.  Upon  presentation and surrender of the  Certificate,  the Paying Agent shall cause to
         be  distributed to the  Certificateholder  amounts  distributable  on such  Distribution  Date pursuant to
         Section 5.02.

         In the event that the Certificateholder shall not surrender
         the Certificate for cancellation within six months after the date
         specified in the above mentioned written notice, the Owner Trustee
         shall give a second written notice to the Certificateholder to
         surrender the Certificate for cancellation and receive the final
         distribution with respect thereto. If within one year after the second
         notice the Certificate shall not have been surrendered for
         cancellation, the Owner Trustee may take appropriate steps, or may
         appoint an agent to take appropriate steps, to contact the
         Certificateholder concerning surrender of the Certificate, and the cost
         thereof shall be paid out of the funds and other assets that shall
         remain subject to this Agreement. Any funds remaining in the Trust
         after exhaustion of such remedies shall be distributed by the Owner
         Trustee to the Seller.

(d)      Upon the winding up of the Trust and its termination, the Owner Trustee
         shall cause the Certificate of Trust to be canceled by filing a
         certificate of cancellation with the Secretary of State in accordance
         with the provisions of Section 3810 of the Statutory Trust Statute.

                                      ARTICLE X

             SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

SECTION 10.01. Eligibility Requirements for Owner Trustee. The Owner Trustee
shall at all times be a corporation satisfying the provisions of Section 3807(a)
of the Statutory Trust Statute; authorized to exercise corporate trust powers;
having a combined capital and surplus of at least $50,000,000 and subject to
supervision or examination by federal or state authorities; and having (or
having a parent which has) a rating of at least Baa3 by Moody's and at least
BBB- by Standard & Poor's. If such corporation shall publish reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purpose of this
Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published. In case at any time the Owner Trustee shall cease to be
eligible in accordance with the provisions of this Section, the Owner Trustee
shall resign immediately in the manner and with the effect specified in Section 10.02.

SECTION 10.02. Resignation or Removal of Owner Trustee. The Owner Trustee may at
any time resign and be discharged from the trusts hereby created by giving
written notice thereof to the Seller, the Owner and the Administrator; provided,
however, that such resignation

19

and discharge shall only be effective upon the
appointment of a successor Owner Trustee. Upon receiving such notice of
resignation, the Administrator shall promptly appoint a successor Owner Trustee
by written instrument, in duplicate, one copy of which instrument shall be
delivered to the resigning Owner Trustee and one copy to the successor Owner
Trustee. If no successor Owner Trustee shall have been so appointed and have
accepted appointment within 30 days after the giving of such notice of
resignation, the resigning Owner Trustee may petition any court of competent
jurisdiction for the appointment of a successor Owner Trustee.

         If at any time the Owner Trustee shall cease to be eligible in
accordance with the provisions of Section 10.01 and shall fail to resign after
written request therefor by the Seller, or if at any time the Owner Trustee
shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a
receiver of the Owner Trustee or of its property shall be appointed, or any
public officer shall take charge or control of the Owner Trustee or of its
property or affairs for the purpose of rehabilitation, conservation or
liquidation, then the Seller may remove the Owner Trustee. If the Seller shall
remove the Owner Trustee under the authority of the immediately preceding
sentence, the Seller shall promptly appoint a successor Owner Trustee by written
instrument, in duplicate, one copy of which instrument shall be delivered to the
outgoing Owner Trustee so removed and one copy to the successor Owner Trustee
and the Seller shall pay all fees owed to the outgoing Owner Trustee.

         Any resignation or removal of the Owner Trustee and appointment of a
successor Owner Trustee pursuant to any of the provisions of this Section shall
not become effective until acceptance of appointment by the successor Owner
Trustee pursuant to Section 10.03 and payment of all fees and expenses owed to
the outgoing Owner Trustee. The Seller shall provide notice of such resignation
or removal of the Owner Trustee to each of the Rating Agencies.

SECTION 10.03. Successor Owner Trustee. Any successor Owner Trustee appointed
pursuant to Section 10.02 shall execute, acknowledge and deliver to the Seller,
the Owner and to its predecessor Owner Trustee, with a copy thereof delivered to
the Administrator, an instrument accepting such appointment under this
Agreement, and thereupon the resignation or removal of the predecessor Owner
Trustee shall become effective and such successor Owner Trustee, without any
further act, deed or conveyance, shall become fully vested with all the rights,
powers, duties, and obligations of its predecessor under this Agreement, with
like effect as if originally named as Owner Trustee. The predecessor Owner
Trustee shall upon payment of its fees and expenses deliver to the successor
Owner Trustee all documents and statements and monies held by it under this
Agreement; and the Seller and the predecessor Owner Trustee shall execute and
deliver such instruments and do such other things as may reasonably be required
for fully and certainly vesting and confirming in the successor Owner Trustee
all such rights, powers, duties, and obligations.

         No successor Owner Trustee shall accept appointment as provided in this
Section unless at the time of such acceptance such successor Owner Trustee shall
be eligible pursuant to Section 10.01.

         Upon acceptance of appointment by a successor Owner Trustee pursuant to
this Section, the Seller shall mail notice of the successor of such Owner
Trustee to the Certificateholder, the Indenture Trustee, the Noteholders and the
Rating Agencies. If the Seller shall fail to mail such

20

notice within 10 days after acceptance of appointment by the successor Owner
Trustee, the successor Owner Trustee shall cause such notice to be mailed at the
expense of the Seller.

SECTION 10.04. Merger or Consolidation of Owner Trustee. Any corporation into
which the Owner Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Owner Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the
Owner Trustee, shall be the successor of the Owner Trustee hereunder; provided
such corporation shall be eligible pursuant to Section 10.01, without the
execution or filing of any instrument or any further act on the part of any of
the parties hereto; anything herein to the contrary notwithstanding; provided,
further, that the Owner Trustee shall mail notice of such merger or
consolidation to the Rating Agencies.

SECTION 10.05. Appointment of Co-Trustee or Separate Trustee. Notwithstanding
any other provisions of this Agreement, at any time, for the purpose of meeting
any legal requirements of any jurisdiction in which any part of the Owner Trust
Estate or any Financed Equipment may at the time be located, the Seller and the
Owner Trustee acting jointly shall have the power and shall execute and deliver
all instruments to appoint one or more Persons approved by the Owner Trustee to
act as co-trustee, jointly with the Owner Trustee, or separate trustee or
separate trustees, of all or any part of the Owner Trust Estate, and to vest in
such Person, in such capacity, such title to the Trust, or any part thereof,
and, subject to the other provisions of this Section, such powers, duties,
obligations, rights and trusts as the Seller and the Owner Trustee may consider
necessary or desirable. If the Seller shall not have joined in such appointment
within 15 days after the receipt by it of a request so to do, the Owner Trustee
alone shall have the power to make such appointment. No co-trustee or separate
trustee under this Agreement shall be required to meet the terms of eligibility
as a successor trustee pursuant to Section 10.01 and no notice of the
appointment of any co-trustee or separate trustee shall be required pursuant to
Section 10.03.

         Each separate trustee and co-trustee shall, to the extent permitted by
law, be appointed and act subject to the following provisions and conditions:

(i)               all rights,  powers,  duties,  and obligations  conferred or imposed upon the Owner Trustee shall
         be  conferred  upon and  exercised  or  performed  by the  Owner  Trustee  and such  separate  trustee  or
         co-trustee  jointly (it being  understood  that such separate  trustee or co-trustee is not  authorized to
         act  separately  without the Owner Trustee  joining in such act),  except to the extent that under any law
         of any  jurisdiction  in which any particular act or acts are to be performed,  the Owner Trustee shall be
         incompetent or unqualified to perform such act or acts, in which event such rights,  powers,  duties,  and
         obligations  (including  the  holding  of  title  to  the  Trust  or  any  portion  thereof  in  any  such
         jurisdiction)  shall be exercised and performed singly by such separate trustee or co-trustee,  but solely
         at the direction of the Owner Trustee;

(ii)     no trustee under this Agreement shall be personally liable by reason of
         any act or omission of any other trustee under this Agreement; and

21

(iii)    the Seller and the Owner Trustee acting jointly may at any time accept
         the resignation of or remove any separate trustee or co-trustee.

         Any notice, request or other writing given to the Owner Trustee shall
be deemed to have been given to each of the then separate trustees and
co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Agreement and
the conditions of this Article. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of appointment, either jointly with the Owner
Trustee or separately, as may be provided therein, subject to all the provisions
of this Agreement, specifically including every provision of this Agreement
relating to the conduct of, affecting the liability of, or affording protection
to, the Owner Trustee. Each such instrument shall be filed with the Owner
Trustee and a copy thereof given to the Seller, the Owner and the Administrator.

         Any separate trustee or co-trustee may at any time appoint the Owner
Trustee, its agent or attorney-in-fact with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the
Owner Trustee, to the extent permitted by law, without the appointment of a new
or successor trustee.

                                   ARTICLE XI

                                  MISCELLANEOUS

SECTION 11.01. Supplements and Amendments. This Agreement may be amended by the
Seller and the Owner Trustee, with prior written notice to the Rating Agencies,
without the consent of any of the Noteholders or the Certificateholder to cure
any ambiguity, to correct or supplement any provisions in this Agreement or for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions in this Agreement or of modifying in any manner the rights
of the Noteholders or the Certificateholder; provided, however, that such
amendment shall not, as evidenced by an Opinion of Counsel, adversely affect in
any material respect the interests of any Noteholder or the Owner or the federal
tax characteristics of the Notes.

         This Agreement may also be amended from time to time by the Seller and
the Owner Trustee, with prior written notice to the Rating Agencies, with the
consent of the Holders of Notes evidencing not less than a majority of the
Outstanding Principal Amount of the Notes, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of
this Agreement or of modifying in any manner the rights of the Noteholders;
provided, however, that no such amendment shall (a) increase or reduce in any
manner the amount of, or accelerate or delay the timing of, collections of
payments on Receivables or distributions that shall be required to be made for
the benefit of the Noteholders or the Owner or (b) reduce the aforesaid
percentage of the Outstanding Principal Amount of the Notes or the Certificate
required to consent to any such amendment, without the consent of the holders of
all the outstanding Notes and the Certificate.

22

         Promptly after the execution of any such amendment or consent, the
Owner Trustee shall furnish written notification of the substance of such
amendment or consent to the Indenture Trustee and each of the Rating Agencies.

         It shall not be necessary for the consent of the Noteholders, the Owner
or the Indenture Trustee pursuant to this Section to approve the particular form
of any proposed amendment or consent, but it shall be sufficient if such consent
shall approve the substance thereof. The manner of obtaining such consents shall
be subject to such reasonable requirements as the Owner Trustee may prescribe.

         Promptly after the execution of any amendment to the Certificate of
Trust, the Owner Trustee shall cause the filing of such amendment with the
Secretary of State.

         Prior to the execution of any amendment to this Agreement or any other
Basic Document, the Owner Trustee shall be entitled to receive and rely upon an
Opinion of Counsel stating that the execution of such amendment is authorized or
permitted by this Agreement and the other Basic Documents. The Owner Trustee
may, but shall not be obligated to, enter into any such amendment which affects
the Owner Trustee's own rights, duties or immunities under this Agreement or
otherwise.

SECTION 11.02. No Legal Title to Owner Trust Estate in the Owner. The Owner
shall not have legal title to any part of the Owner Trust Estate. The Owner
shall be entitled to receive distributions with respect to its ownership
interest therein only in accordance with Articles V and IX. No transfer, by
operation of law or otherwise, of any right, title, and interest of the Owner to
and in its ownership interest in the Owner Trust Estate shall operate to
terminate this Agreement or the trusts hereunder or entitle any transferee to an
accounting or to the transfer to it of legal title to any part of the Owner
Trust Estate.

SECTION 11.03. Limitations on Rights of Others. The provisions of this Agreement
are solely for the benefit of the Owner Trustee, the Seller, the Owner, the
Administrator and, to the extent expressly provided herein, the Indenture
Trustee and the Noteholders, and nothing in this Agreement, whether express or
implied, shall be construed to give to any other Person any legal or equitable
right, remedy or claim in the Owner Trust Estate or under or in respect of this
Agreement or any covenants, conditions or provisions contained herein.

SECTION 11.04. Notices. (a) Unless otherwise expressly specified or permitted by
the terms hereof, all notices shall be in writing and shall be deemed given upon
receipt by the intended recipient or three Business Days after mailing if mailed
by certified mail, postage prepaid (except that notice to the Owner Trustee
shall be deemed given only upon actual receipt by the Owner Trustee), if to the
Owner Trustee, addressed to the Corporate Trust Office; if to the Seller,
addressed to Caterpillar Financial Funding Corporation, 4040 S. Eastern Avenue,
Suite 344, Las Vegas, Nevada 89119; or, as to each party, at such other address
as shall be designated by such party in a written notice to each other party.

(b)      Any notice required or permitted to be given to the Certificateholder
         shall be given by first-class mail, postage prepaid, at the address of
         such Holder as shown in the Certificate Register. Any notice so mailed
         within the time prescribed in this

23

Agreement shall be conclusively
         presumed to have been duly given, whether or not the Certificateholder
         receives such notice.

SECTION 11.05. Severability. Any provision of this Agreement that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

SECTION 11.06. Separate Counterparts. This Agreement may be executed by the
parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together
constitute but one and the same instrument.

SECTION 11.07. Successors and Assigns. All covenants and agreements contained
herein shall be binding upon, and inure to the benefit of, the Seller, the Owner
Trustee and its successors and the Owner and its successors and permitted
assigns, all as herein provided. Any request, notice, direction, consent, waiver
or other instrument or action by the Owner shall bind the successors and assigns
of the Owner.

SECTION 11.08. Covenant of the Seller. In the event that (a) the Certificate
Balance shall be reduced by Realized Losses and (b) any litigation with claims
in excess of $1,000,000 to which the Seller is a party which shall be reasonably
likely to result in a material judgment against the Seller that the Seller will
not be able to satisfy shall be commenced by the Owner during the period
beginning nine months following the commencement of such litigation and
continuing until such litigation is dismissed or otherwise terminated (and, if
such litigation has resulted in a final judgment against the Seller, such
judgment has been satisfied) the Seller shall not pay any dividend to
Caterpillar Financial Services Corporation, or make any distribution on or in
respect of its capital stock to Caterpillar Financial Services Corporation, or
repay the principal amount of any indebtedness of the Seller held by Caterpillar
Financial Services Corporation, unless (i) after giving effect to such payment,
distribution or repayment, the Seller's liquid assets shall not be less than the
amount of actual damages claimed in such litigation or (ii) the Rating Agency
Condition shall have been satisfied with respect to any such payment,
distribution or repayment. The Seller further agrees that prior to the
termination of the Trust it shall not revoke, modify or otherwise amend any
agreements with Caterpillar Financial Services Corporation in effect on the
Closing Date in any manner that would adversely affect the rights of the Seller
to receive from Caterpillar Financial Services Corporation contributions of
capital or payments on demand pursuant to such agreements. The Seller further
covenants and agrees that it will not enter into any transaction or take any
action (other than any transaction or action contemplated by this Agreement or
any of the Basic Documents) if, as a result of such transaction or action, any
rating of either the Notes or the Certificates by any of the Rating Agencies
would be downgraded or withdrawn.

SECTION 11.09. No Petition. The Owner Trustee, the Certificateholder, by
accepting the Certificate, and the Indenture Trustee and each Noteholder by
accepting the benefits of this Agreement, hereby covenant and agree that they
will not, prior to the date which is one year and one day after the termination
of the Trust, institute against the Seller or the Issuer, or join in any
institution against the Seller or the Issuer of, any bankruptcy,

24

reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States federal or state bankruptcy or similar law in connection with
any obligations relating to the Certificate, the Notes, this Agreement or any of
the Basic Documents.

SECTION 11.10. No Recourse. The Certificateholder by accepting the Certificate
acknowledges that the Certificate represents a beneficial interest in the Trust
only and does not represent an interest in or obligation of the Seller, the
Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any
Affiliate thereof, and no recourse may be had against such parties or their
assets, except as may be expressly set forth or contemplated in this Agreement,
the Certificate or the other Basic Documents.

SECTION 11.11. Headings. The headings of the various Articles and Sections
herein are for convenience of reference only and shall not define or limit any
of the terms or provisions hereof.

SECTION 11.12. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

SECTION 11.13. Certificate Transfer Restrictions. (a) The Certificate may not be
acquired by or for the account of (i) an employee benefit plan (as defined in
Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA")), whether or not such plan is subject to the provisions of Title I of
ERISA, (ii) a plan (as defined in Section 4975(e)(1) of the Code) subject to
Section 4975 of the Code, or (iii) any entity whose underlying assets include
"plan assets" by reason of any such plan's investment in the entity and the
application of U.S. Department of Labor (the "DOL") Regulation Section
2510.3-101 (the "Plan Asset Regulation") (excluding any investment company that
is registered under the Investment Company Act of 1940, as amended) (each, a
"Benefit Plan Investor"), except as provided in the following sentence. By
accepting and holding the Certificate, the Holder thereof shall be deemed to
have represented, warranted and covenanted that it is (A) not a Benefit Plan
Investor, and that no assets of any Benefit Plan Investor were used to acquire
the Certificate, or (B) it is an insurance company acting on behalf of its
general account, and (i) on the date it acquires the Certificate, less than 25%
of the assets of such general account constitute Plan Assets and (ii) if at any
time during any calendar quarter after the initial acquisition of the
Certificate, 25% or more of the assets of such general account constitute "plan
assets" (as defined in the Plan Asset Regulation) and no exemption or exception
from the prohibited transaction rules applies to the continued holding of the
Certificate under Section 401(c) of ERISA and final regulations thereunder or an
exemption or regulation issued by the DOL under ERISA, then such insurance
company will dispose of the Certificate then held in its general account by the
end of the next following calendar quarter, and shall deliver to the Owner
Trustee at the time of acquisition of the Certificate a duly executed
Certificateholder Certification in the form set forth in Exhibit C.

(b)      The Certificate may not be acquired by or for the account of an
         individual or entity that is not a U.S. person as defined in Section
         7701(a)(30) of the Code. By accepting and holding the Certificate, the
         Holder shall be deemed to have represented and

25

warranted under
         penalties of perjury that it (or, if it is acting as a nominee, the
         beneficial owner) is a U.S. person and shall deliver to the Owner
         Trustee, at the time of acquisition of the Certificate and thereafter
         from time to time upon request, a duly executed Certificateholder
         Certification in the form set forth in Exhibit C.

SECTION 11.14. Seller Payment Obligation. The Seller shall be responsible for
payment of the Administrator's fees under the Administration Agreement (to the
extent not paid pursuant to Section 5.04 of the Sale and Servicing Agreement)
and shall reimburse the Administrator for all expenses and liabilities of the
Administrator incurred thereunder.

                            [Signature Page Follows]

26

         IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement
to be duly executed by their respective officers hereunto duly authorized, as of
the day and year first above written.

                                                          CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,
                                                          not in its individual capacity but solely as Owner
                                                          Trustee,

                                                          By:
                                                             ------------------------------------------------------
                                                              Name:       John J. Cashin
                                                              Title:      Vice President

                                                          CATERPILLAR FINANCIAL FUNDING CORPORATION, as Seller,

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

                                  EXHIBIT A

                               FORM OF CERTIFICATE

NUMBER                                                            $[___________]
R-1

                       SEE REVERSE FOR CERTAIN DEFINITIONS

                 THIS CERTIFICATE IS ONLY TRANSFERABLE IN WHOLE
                   AND IS SUBJECT TO RESTRICTIONS ON TRANSFER
                        SET FORTH IN THE TRUST AGREEMENT

         THIS CERTIFICATE HAS NOT BEEN REGISTERED AND WILL NOT BE REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND MAY NOT BE OFFERED, SOLD OR DELIVERED UNLESS PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM THE SECURITIES ACT.

         THIS CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF (i) AN
EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA")), WHETHER OR NOT SUCH PLAN IS
SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (ii) A PLAN (AS DEFINED IN
SECTION 4975(e)(1) OF THE CODE) SUBJECT TO SECTION 4975 OF THE CODE, OR (iii)
ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE "PLAN ASSETS" BY REASON OF ANY SUCH
PLAN'S INVESTMENT IN THE ENTITY AND THE APPLICATION OF U.S. DEPARTMENT OF LABOR
(THE "DOL") REGULATION SECTION 2510.3-101 (THE "PLAN ASSET REGULATION")
(EXCLUDING ANY INVESTMENT COMPANY THAT IS REGISTERED UNDER THE INVESTMENT
COMPANY ACT OF 1940, AS AMENDED) (EACH, A "BENEFIT PLAN INVESTOR"), EXCEPT AS
PROVIDED IN THE FOLLOWING SENTENCE. BY ACCEPTING AND HOLDING THIS CERTIFICATE,
THE HOLDER THEREOF SHALL BE DEEMED TO HAVE REPRESENTED, WARRANTED AND COVENANTED
THAT IT IS (A) NOT A BENEFIT PLAN INVESTOR, AND THAT NO ASSETS OF ANY BENEFIT
PLAN INVESTOR WERE USED TO ACQUIRE THIS CERTIFICATE, OR (B) IT IS AN INSURANCE
COMPANY ACTING ON BEHALF OF ITS GENERAL ACCOUNT, AND (i) ON THE DATE IT ACQUIRES
THIS CERTIFICATE, LESS THAN 25% OF THE ASSETS OF SUCH GENERAL ACCOUNT CONSTITUTE
PLAN ASSETS AND (ii) IF AT ANY TIME DURING ANY CALENDAR QUARTER AFTER THE
INITIAL ACQUISITION OF THIS CERTIFICATE, 25% OR MORE OF THE ASSETS OF SUCH
GENERAL ACCOUNT CONSTITUTE "PLAN ASSETS" (AS DEFINED IN THE PLAN ASSET
REGULATION) AND NO EXEMPTION OR EXCEPTION FROM THE PROHIBITED TRANSACTION RULES
APPLIES TO THE CONTINUED HOLDING OF THIS CERTIFICATE UNDER SECTION 401(c) OF
ERISA AND FINAL REGULATIONS THEREUNDER OR AN EXEMPTION OR REGULATION ISSUED BY
THE DOL UNDER ERISA, THEN SUCH

A-1

INSURANCE COMPANY WILL DISPOSE OF THIS
CERTIFICATE BY THE END OF THE NEXT FOLLOWING CALENDAR QUARTER, AND SHALL DELIVER
TO THE OWNER TRUSTEE AT THE TIME OF ACQUISITION OF THIS CERTIFICATE A DULY
EXECUTED CERTIFICATEHOLDER CERTIFICATION IN THE FORM SET FORTH IN EXHIBIT C TO
THE TRUST AGREEMENT REFERRED TO HEREIN.

         THIS CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF AN
INDIVIDUAL OR ENTITY THAT IS NOT A U.S. PERSON AS DEFINED IN SECTION 7701(a)(30)
OF THE CODE. BY ACCEPTING AND HOLDING THIS CERTIFICATE, THE HOLDER SHALL BE
DEEMED TO HAVE REPRESENTED AND WARRANTED THAT IT (OR, IF IT IS ACTING AS A
NOMINEE, THE BENEFICIAL OWNER) IS A U.S. PERSON AND SHALL DELIVER TO THE OWNER
TRUSTEE, AT THE TIME OF ACQUISITION OF THIS CERTIFICATE AND THEREAFTER FROM TIME
TO TIME UPON REQUEST, A DULY EXECUTED CERTIFICATION IN THE FORM SET FORTH IN
EXHIBIT C TO THE TRUST AGREEMENT.

         THE CERTIFICATE BALANCE OF THIS CERTIFICATE IS DISTRIBUTABLE IN
INSTALLMENTS AS SET FORTH IN THE TRUST AGREEMENT. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ON THE FACE HEREOF.

A-2

                    CATERPILLAR FINANCIAL ASSET TRUST 2003-A

                            ASSET BACKED CERTIFICATE

evidencing an undivided interest in the Trust, as defined below, the property of
which includes a pool of retail installment sale contracts and finance leases
secured by new and used machinery and certain monies due or received thereunder
and sold to the Trust (as defined below) by Caterpillar Financial Funding
Corporation.

(This Certificate does not represent an interest in or obligation of Caterpillar
Financial Funding Corporation, Caterpillar Financial Services Corporation,
Caterpillar Inc. or any of their respective affiliates, except to the extent
described below.)

         THIS CERTIFIES THAT ______________________________________ is the
registered Holder of ______________________________________ DOLLARS
($___________) nonassessable, fully-paid, undivided interest in Caterpillar
Financial Asset Trust 2003-A (the "Trust") formed by Caterpillar Financial
Funding Corporation, a Nevada corporation (the "Seller").

         The Trust was created pursuant to an Amended and Restated Trust
Agreement dated as of May 1, 2003 (the "Trust Agreement"), between the Seller
and Chase Manhattan Bank USA, National Association, as owner trustee (the "Owner
Trustee"), a summary of certain of the pertinent provisions of which is set
forth below. To the extent not otherwise defined herein, the capitalized terms
used herein have the meanings assigned to them in the Trust Agreement or the
Sale and Servicing Agreement dated as of May 1, 2003 (the "Sale and Servicing
Agreement"), among the Trust, the Seller and Caterpillar Financial Services
Corporation, as servicer (the "Servicer"), as applicable.

         This Certificate is the duly authorized Certificate designated as the
"Asset Backed Certificate" (herein called the "Certificate"). Also issued under
the Indenture dated as of May 1, 2003, between the Trust and U.S. Bank National
Association, as indenture trustee, are Notes designated as "Class A-1 1.22938%
Asset Backed Notes" (the "Class A-1 Notes"), "Class A-2 1.25% Asset Backed
Notes" (the "Class A-2 Notes"), "Class A-3 1.66% Asset Backed Notes" (the "Class
A-3 Notes") and "Class B 2.27% Asset Backed Notes" (the "Class B Notes";
together with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes,
the "Notes"). This Certificate is issued under and is subject to the terms,
provisions and conditions of the Trust Agreement, to which Trust Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound. The property of the Trust includes a pool of retail
installment sale contracts and finance leases secured by new and used equipment
(the "Receivables"), all monies received on or after May 1, 2003 from payments
on the Receivables, security interests in the equipment financed thereby and
certain other cross-collateralized equipment, certain bank accounts and the
proceeds thereof, proceeds from claims on certain insurance policies and certain
other rights under the Trust Agreement and the Sale and Servicing Agreement, all
right, title, and interest of the Seller in and to the Purchase Agreement dated
as of May 1, 2003 between Caterpillar Financial Services Corporation and the
Seller and all proceeds of the foregoing. The Holder of this Certificate
acknowledges and agrees that its rights to

A-3

receive distributions in respect of
this Certificate are subordinated to the rights of the Noteholders as described
in the Sale and Servicing Agreement and the Indenture.

         Under the Trust Agreement, there will be distributed on the 25th day of
each month or, if such day is not a Business Day, the next Business Day (the
"Distribution Date"), commencing on June 25, 2003 to the Person in whose name
this Certificate is registered at the close of business on the last calendar day
of the month preceding the month in which such Distribution Date occurs (the
"Record Date") the amount to be distributed to the Certificateholder on such
Distribution Date.

         Notwithstanding any prior termination of the Trust Agreement, the
Certificateholder, by its acceptance of this Certificate, covenants and agrees
that it shall not, prior to the date which is one year and one day after the
termination of the Trust, institute against the Seller or the Issuer, or join in
any institution against the Seller or the Issuer of, any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any United States federal or state bankruptcy or similar law
in connection with any obligations relating to this Certificate, the Notes, the
Trust Agreement or any of the Basic Documents.

         Distributions on this Certificate will be made as provided in the Trust
Agreement by the Owner Trustee by wire transfer or check mailed to the
Certificateholder of record in the Certificate Register without the presentation
or surrender of this Certificate or the making of any notation hereon. Except as
otherwise provided in the Trust Agreement and notwithstanding the above, the
final distribution on this Certificate will be made after due notice by the
Owner Trustee of the pendency of such distribution and only upon presentation
and surrender of this Certificate at the office or agency maintained for the
purpose by the Owner Trustee in the Borough of Manhattan, The City of New York.

         This Certificate does not represent an obligation of, or an interest
in, the Seller, the Servicer, Caterpillar Inc., the Owner Trustee or any
Affiliates of any of them and no recourse may be had against such parties or
their assets, except as may be expressly set forth or contemplated herein or in
the Trust Agreement or the Basic Documents. In addition, this Certificate is not
guaranteed by any governmental agency or instrumentality and is limited in right
of payment to certain collections with respect to the Receivables (and certain
other amounts), all as more specifically set forth herein and in the Sale and
Servicing Agreement and the Trust Agreement. This Certificate is limited in
right of payment to certain collections and recoveries respecting the
Receivables, all as more specifically set forth in the Sale and Servicing
Agreement and the Trust Agreement. A copy of each of the Sale and Servicing
Agreement and the Trust Agreement may be examined during normal business hours
at the principal office of the Seller, and at such other places, if any,
designated by the Seller, by the Certificateholder upon written request.

         The Trust Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Seller and the rights of the Certificateholder under the Trust Agreement at any
time by the Seller and the Owner Trustee with the consent of the holders of the
Notes evidencing a majority of the outstanding Notes.

A-4

         As provided in the Trust Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registerable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices or agencies of the Certificate Registrar maintained by
the Owner Trustee in the Borough of Manhattan, in the City of New York,
accompanied by a written instrument of transfer in force satisfactory to the
Owner Trustee and the Certificate Registrar duly executed by the Holder hereof
or such Holder's attorney duly authorized in writing and a duly executed
Certificateholder Certification of the transferee thereof, and thereupon one or
more new Certificates of authorized denominations evidencing the same aggregate
interest in the Trust will be issued to the designated transferee. No service
charge will be made for any such registration of transfer, but the Owner Trustee
or the Certificate Registrar may require payment of a sum sufficient to cover
any tax or governmental charge payable in connection therewith. The initial
Certificate Registrar appointed under the Trust Agreement is JPMorgan Chase
Bank, New York, New York.

         The Owner Trustee, the Certificate Registrar and any agent of the Owner
Trustee or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes, and none of the
Owner Trustee, the Certificate Registrar or any such agent shall be affected by
any notice to the contrary.

         The obligations and responsibilities created by the Trust Agreement and
the Trust created thereby shall terminate upon the payment to the
Certificateholder of all amounts required to be paid to it pursuant to the Trust
Agreement and the Sale and Servicing Agreement and the disposition of all
property held as part of the Trust. The Servicer of the Receivables may at its
option purchase the corpus of the Trust at a price specified in the Sale and
Servicing Agreement, and such purchase of the Receivables and other property of
the Trust will effect early retirement of the Certificate; provided, however,
such right of purchase is exercisable only on any Distribution Date on which the
Note Value is 10% or less of the Initial Note Value .

         This Certificate may not be acquired by or for the account of (i) an
employee benefit plan (as defined in Section 3(3) of the Employee Retirement
Income Security Act of 1974, as amended ("ERISA")), whether or not such plan is
subject to the provisions of Title I of ERISA, (ii) a plan (as defined in
Section 4975(e)(1) of the Code) subject to Section 4975 of the Code, or (iii)
any entity whose underlying assets include "plan assets" by reason of any such
plan's investment in the entity and the application of U.S. Department of Labor
(the "DOL") Regulation Section 2510.3-101 (the "Plan Asset Regulation")
(excluding any investment company that is registered under the Investment
Company Act of 1940, as amended) (each, a "Benefit Plan Investor"), except as
provided in the following sentence. By accepting and holding this Certificate,
the Holder thereof shall be deemed to have represented, warranted and covenanted
that (A) it is not a Benefit Plan Investor, and that no assets of any Benefit
Plan Investor were used to acquire this Certificate, or (B) it is an insurance
company acting on behalf of its general account, and (i) on the date it acquires
this Certificate, less than 25% of the assets of such general account constitute
Plan Assets and (ii) if at any time during any calendar quarter after the
initial acquisition of this Certificate, 25% or more of the assets of such
general account constitute "plan assets" (as defined in the Plan Asset
Regulation) and no exemption or exception from the prohibited transaction rules
applies to the continued holding of this Certificate under Section 401(c) of
ERISA and final regulations thereunder or an exemption or regulation issued by
the DOL under ERISA, then such insurance company will dispose of this
Certificate by

A-5

the end of the next following calendar quarter, and shall deliver
to the Owner Trustee at the time of acquisition of this Certificate a duly
executed Certificateholder Certification in the form set forth in Exhibit C to
the Trust Agreement.

         This Certificate may not be acquired by or for the account of an
individual or entity that is not a U.S. person as defined in Section 7701(a)(30)
of the Code. By accepting and holding this Certificate, the Holder shall be
deemed to have represented and warranted under penalties of perjury that it (or,
if it is acting as a nominee, the beneficial owner) is a U.S. person and shall
deliver to the Owner Trustee, at the time of acquisition of this Certificate and
thereafter from time to time upon request, a duly executed Certificateholder
Certification in the form set forth in Exhibit C to the Trust Agreement.

         Unless the certificate of authentication hereon shall have been
executed by an authorized officer of the Owner Trustee, by manual signature,
this Certificate shall not entitle the Holder hereof to any benefit under the
Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose.

         THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF DELAWARE.

A-6

         IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not
in its individual capacity, has caused this Certificate to be duly executed.

                                                          CATERPILLAR FINANCIAL ASSET TRUST 2003-A,

                                                          By:  CHASE MANHATTAN BANK
                                                               USA, NATIONAL ASSOCIATION, as Owner Trustee

Dated:  __________                                        By:
                                                               ---------------------------------------------------
                                                               Name:
                                                               Title:

                          CERTIFICATE OF AUTHENTICATION

                   This is the Certificate referred to in the within-mentioned
Trust Agreement.

CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION, as      or        CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION, as
Owner Trustee                                                     Owner Trustee

                                                                  By     JPMorgan CHASE BANK, as Authenticating Agent
By:                                                               By:
       ---------------------------------------------
                    Authorized Signatory                                             Authorized Signatory

A-7

                                   ASSIGNMENT

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

PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER
OF ASSIGNEE

----------------------------------------------------------------------------
(Please print or type name and address, including postal zip code, of assignee)

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the within Certificate, and all rights thereunder, hereby irrevocably constituting and appointing

______________________________________________________ Attorney to transfer said
Certificate on the books of the Certificate Register, with full power of
substitution in the premises.

Dated:                                               _________________________________________*
                                                     Signature Guaranteed:

                                                     -----------------------------------------*

--------------------

* NOTICE: The signature to this assignment must correspond with the name as it
appears upon the face of the within Certificate in every particular, without
alteration, enlargement or any change whatever.

A-8

                                    EXHIBIT B

                             CERTIFICATE OF TRUST OF
                    CATERPILLAR FINANCIAL ASSET TRUST 2003-A

                  THIS Certificate of Trust of CATERPILLAR FINANCIAL ASSET TRUST 2003-A (the "Trust") is being
duly executed and filed on behalf of the Trust by the undersigned, as trustee, to form a statutory trust under
the Delaware Statutory Trust Act (12 Del. C.ss.3801 et seq.) (the "Act").

                  Name. The name of the statutory trust formed by this
Certificate of Trust is CATERPILLAR FINANCIAL ASSET TRUST 2003-A.

                  Delaware Trustee. The name and business address of the trustee
of the Trust in the State of Delaware are Chase Manhattan Bank USA, National
Association, c/o JP Morgan Chase, 500 Stanton Christiana Road, OPS4, 3rd Floor,
Newark, Delaware 19713 Attention: Institutional Trust Services.

                  Effective Date.  This Certificate of Trust shall be effective upon filing.

                  IN WITNESS WHEREOF, the undersigned has duly executed this
Certificate of Trust in accordance with Section 3811(a)(1) of the Act.

                                                     CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION, not in its
                                                     individual capacity but solely as Trustee

                                                     By:_________________________________
                                      Name:
                                     Title:

B-1

                                    EXHIBIT C

                         CERTIFICATEHOLDER CERTIFICATION

         This Certificateholder Certification ("Certification") is delivered
pursuant to Section 11.13(b) of Caterpillar Financial Asset Trust 2003-A Amended
and Restated Trust Agreement, dated as of May 1, 2003 (the "Trust Agreement"),
between Caterpillar Financial Funding Corporation and Chase Manhattan Bank USA,
National Association, as Owner Trustee, in connection with the acquisition of,
transfer to or possession by the undersigned, whether as beneficial owner (the
"Beneficial Owner"), or nominee on behalf of the Beneficial Owner, of the
Caterpillar Financial Asset Trust 2003-A Asset Backed Certificate (the
"Certificate"). Capitalized terms used but not defined in this Certification
have the respective meanings given them in the Trust Agreement.

         The holder must complete Part I, Part II (if the holder is a nominee),
and in all cases sign and otherwise complete Part III of Section A.

         Section A. To confirm to the Trust that the provisions of Section 1446
of the Internal Revenue Code (relating to withholding tax on foreign partners)
do not apply in respect of the Certificate held by the undersigned, the
undersigned hereby certifies:

Part I - Complete Either A or B

         A.       Individual as Beneficial Owner

                  1.       I am (The Beneficial Owner is) not a non-resident
                           alien for purposes of U.S. income taxation;

                  2. My (The Beneficial Owner's) name and home address are

                           ---------------------------------------------

                           ---------------------------------------------

                           _____________________________________________; and

                  3.       My (The Beneficial Owner's) U.S. taxpayer
                           identification number (Social Security Number) is
                           ----------------------.

         B. Corporate, Partnership or other Entity as Beneficial Owner

                  1.       ________________________________ (Name of the
                           Beneficial Owner) is not a foreign corporation,
                           foreign partnership, foreign trust or foreign estate
                           (as those terms are defined in the Code and Treasury
                           regulations);

C-1

                  2. The Beneficial Owner's office address and place of
incorporation (if applicable) is
                           -----------------------------------------

                           _________________________________________; and

                  3. The Beneficial Owner's U.S. employer identification number
(Social Security Number) is
                           ---------------.

Part II - Nominees

         If the undersigned is the nominee for the Beneficial Owner, the
undersigned certifies that this Certification has been made in reliance upon
information contained in:

         _________ an IRS Form W-9

         _________ a form such as this or substantially similar

provided to the undersigned by an appropriate person and (i) the undersigned
agrees to notify the Trust at least thirty (30) days prior to the date that the
form relied upon becomes obsolete, and (ii) in connection with change in
Beneficial Owners, the undersigned agrees to submit a new Certification of
Non-Foreign Status to the Trust promptly after such change.

Part III - Declaration

         The undersigned, as the Beneficial Owner or a nominee thereof, agrees
to notify the Trust within sixty (60) days of the date that the Beneficial Owner
becomes a foreign person. The undersigned understands that this Certification
may be disclosed to the Internal Revenue Service by the Trust and any false
statement contained therein could be punishable by fines, imprisonment or both.

C-2

         Under penalty of perjury, I declare that I have examined this
Certification and to the best of my knowledge and belief it is true, correct and
complete and, if applicable, I further declare that I have the authority* to
sign this document

----------------------------------------------------------------
                                                   Name

----------------------------------------------------------------
                                           Title (if applicable)

----------------------------------------------------------------
                                            Signature and Date

*NOTE:        If signed pursuant to a power of attorney, the power of attorney must accompany this Certification.

         THE CERTIFICATION CONTAINED IN THIS SECTION A WILL BECOME OBSOLETE AT
THE END OF THE THIRD YEAR AFTER THE TAXABLE YEAR OF THE TRUST DURING WHICH THIS
CERTIFICATION IS DELIVERED TO THE TRUST.

         Section B. The undersigned hereby certifies that (check one):

1. were used to acquire the Certificate.

                  OR

2.                                  I am an insurance company, acting on behalf
                                    of my general account, and

a.       on the date I acquired  the  Certificate,  less than 25% of the assets of my general  account  constituted
                                    Plan Assets, and

b.       if, at any time during any calendar  quarter  after the initial  acquisition  of the  Certificate,  25% or
                                    more of the  assets of such  general  account  constitutes  "plan  assets"  (as
                                    defined in the Plan Asset  Regulation)  and no exemption or exception  from the
                                    prohibited   transaction   rules  applies  to  the  continued  holding  of  the
                                    Certificate under Section 401(c) of ERISA and final  regulations  thereunder or
                                    an exemption or regulation  issued by the DOL under ERISA,  then I will dispose
                                    of the  Certificate  then  held in my  general  account  by the end of the next
                                    following  calendar  quarter and shall deliver to the Owner Trustee at the time
                                    of   acquisition   of  the   Certificate  a  duly  executed   Certificateholder
                                    Certification in the form set forth in this exhibit.

C-3

         I declare that I have examined this Certification and to the best of my
knowledge and belief it is true, correct and complete and, if applicable, I
further declare that I have the authority* to sign this document

----------------------------------------------------------------
                                                   Name

----------------------------------------------------------------
                                           Title (if applicable)

----------------------------------------------------------------
                                            Signature and Date

*NOTE:        If signed pursuant to a power of attorney, the power of attorney must accompany this Certification.

C-4

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