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                                   EXHIBIT 4.4

                                FORM OF DEBENTURE

NO. 1

THESE SECURITIES (INCLUDING ANY UNDERLYING SECURITIES) HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN
OPINION OF COUNSEL OR OTHER EVIDENCE REASONABLY SATISFACTORY TO THE COMPANY THAT
SUCH REGISTRATION SHALL NO LONGER BE REQUIRED.

                        AIRTECH INTERNATIONAL GROUP, INC.
                            6% CONVERTIBLE DEBENTURE

$500,000                                                    FEBRUARY 22, 2000
New York, New York

           1.   CONSIDERATION. FOR VALUE RECEIVED, AIRTECH INTERNATIONAL GROUP,
INC. a Wyoming corporation (the "undersigned" or the "Company"), hereby
promises to pay to the order of PK Investors LLC, at its offices located at 110
Colabaugh Pond Road, Croton-on-Hudson, New York 10520 or at such other place as
the holder hereof (the "holder" or the "Registered Holder") shall designate to
the undersigned in writing, in lawful money of the United States of America or
in New York Clearing House Funds, the principal amount of Five Hundred Thousand
Dollars ($500,000) on the Maturity Date (as defined below). This Debenture is
one of five (5) Debentures to the Registered Holder on the date hereof in the
aggregate principal amount of two million five hundred thousand dollars
($2,500,000). The undersigned promises to pay the said principal sum in
accordance with the terms of this Debenture (as defined below).

           2.   PAYMENT. On February 22, 2002 (the "Maturity Date") the
undersigned shall pay the holder all unpaid principal and interest, if any, on
this Debenture. At the Company's option, any interest payment required to be
paid on this Debenture may be made in the form of the issuance to the holder of
the Company's common stock, par value $.05 per share (the "Common Stock"), with
the number of shares of such Common Stock to be payable in lieu of such
interest payments to be determined in accordance with the provisions of Section
6, as if such interest payment were a portion of the principal amount of the
Debenture to be converted into Common Stock.

           Principal and interest shall be payable at the most recent address
as the Registered Holder shall have designated to the Company in writing. No
payment of the principal of this Debenture may be made prior to the Maturity
Date by the Company without the consent of the Registered Holder, except as
otherwise provided herein.

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           3.   OVERDUE INTEREST PAYMENTS. Interest on the indebtedness
evidenced by this Debenture after default or maturity accelerated or otherwise
shall be due and payable at the rate of ten (10%) percent per annum, subject to
the limitations of applicable law.

           4.   HOLIDAYS. If this Debenture or any installment hereof becomes
due and payable on a Saturday, Sunday or public holiday under the laws of the
State of New York, the due date hereof shall be extended to the next succeeding
business day and interest shall be payable at the rate of six (6%) percent per
annum during such extension. All payments received by the holder shall be
applied first to the payment of all accrued interest payable hereunder.

           5.   ISSUANCE OF DEBENTURES. This Debenture has been issued by the
Company pursuant to the authorization of the Board of Directors of the Company
(the "Board") and issued pursuant to a Securities Purchase Agreement, dated as
of February 22, 2000, by and between the Company and the Purchaser identified
therein (the "Securities Purchase Agreement"). Pursuant to the Securities
Purchase Agreement, the Company issued $2,500,000 principal amount of the
Debentures and warrants to purchase (the "Warrants") 250,000 shares of the
Company's Common Stock. The Securities Purchase Agreement contains certain
additional terms that are binding upon the Company and each Registered Holder
of the Debentures. A copy of the Securities Purchase Agreement may be obtained
by any registered holder of the Debentures from the Company upon written
request. Capitalized terms used but not defined herein shall have the meanings
set forth in the Securities Purchase Agreement, including the Exhibits thereto.
This Debenture and the other 6% Convertible Debentures due 2002 issued by the
Company pursuant to the terms of the Securities Purchase Agreement, together
with any debentures from time to time issued in replacement thereof, whether
pursuant to transfer and assignment, partial conversion thereof or otherwise,
are collectively referred to herein as the "Debentures."

           6.   CONVERSION. (a) Subject to and in compliance with the
provisions hereof, the holder shall have the right to convert all or a portion
of the outstanding principal amount of this Debenture into such number of
shares of Common Stock (the shares of Common Stock issuable upon conversion of,
and issuable in lieu of interest payments on, this Debenture, if any, are
hereinafter referred to as the "Conversion Shares") as shall equal the quotient
obtained by dividing (x) the principal amount of this Debenture to be converted
by (y) the Applicable Conversion Price (as hereinafter defined) and by
surrender of this Debenture, such surrender to be made in the manner provided
herein.

                (b) For purposes hereof the term "Applicable Conversion Price"
shall mean the lesser of: (i) $2.585 (the "Fixed Price") and (ii) the product
obtained by multiplying (x) the Average Lowest Closing Price (as hereinafter
defined) by (y) .80.

                For purposes hereof the "Average Lowest Closing Price" with
respect to any conversion elected to be made by the holder shall be the average
of the three (3) lowest daily closing bid prices (each such price is referred
to individually as a "Floating Reference Price" and, collectively, as the
"Floating Reference Prices") during the thirty (30) trading days immediately
preceding the date on which the holder gives the Company a written notice of
the holder's election to convert outstanding principal of this Debenture (the
"Notice Date"). The closing bid price on any

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trading day shall be (a) if the Common Stock is then listed or quoted on either
the NASD Bulletin Board, the NASDAQ SmallCap Market or the NASDAQ National
Market, the reported closing bid price for the Common Stock as reported by
Bloomberg, L.P. ("Bloomberg") or The Wall Street Journal (the "Journal") or on
such day (or, if not so reported, as otherwise reported by The NASDAQ Small Cap
Market, NASDAQ National Market or the NASD Bulletin Board, as the case may be),
(b) if the Common Stock is listed on either the American Stock Exchange or New
York Stock Exchange, the closing bid price for the Common Stock on such
exchange on such day as reported by Bloomberg or the Journal or (c) if neither
(a) nor (b) apply but the Common Stock is quoted in the over-the-counter
market, another recognized exchange, or on the pink sheets, the last reported
bid price thereof on such date. If the prices of the Common Stock cannot be
calculated on such date on any of the foregoing bases, such prices on such date
shall be the fair market value as mutually determined by the Company and the
Registered Holder for which the calculation is required in order to determine
the Applicable Conversion Price; PROVIDED, HOWEVER, that if the Company and the
Registered Holder are unable to mutually determine the fair market value, such
fair market value shall be determined by a nationally recognized investment
banking firm or firm of independent certified public accountants of recognized
standing (which firm may be the firm that regularly examines the financial
statements of the Company) (an "Appraiser") selected in good faith by the Board
and holders of a majority in interest of the Debentures. "Trading day" shall
mean any day on which the Company's Common Stock is traded for any period on
the principal securities exchange or other securities market on which the
Common Stock is then being traded.

                (c)   If, during any period following February 22, 2000 (the
"Original Issue Date"), as a result of the occurrence of any of the events set
forth in Section 3(f) or 3(g) of the Registration Rights Agreement, dated as of
February 22, 2000, by and between the Company and the Purchaser set forth
therein (the "Registration Rights Agreement"), the Purchaser set forth therein
is not able to sell shares of Common Stock issuable upon conversion of, or in
lieu of interest payments on, this Debenture pursuant to a registration
statement filed pursuant to such agreement, the Registered Holder shall have
the right, for any purpose under this Debenture during such period and
thereafter, to designate as the Applicable Conversion Price any Conversion
Price that would have been applicable during such period had the Registered
Holder delivered a Notice of Conversion with respect to any portion of this
Debenture. "Conversion Date" shall have the meaning given such term in Section
5(b) of the Securities Purchase Agreement.

                (d)  The Registered Holder shall convert this Debenture in
accordance with Section 5(b) of the Securities Purchase Agreement. If the
Company fails to deliver to the holder a certificate or certificates for shares
of Common Stock in the period set forth in the Securities Purchase Agreement,
the Company shall make certain payments to the holder in accordance with
Section 5(d) of the Securities Purchase Agreement.

                (e)   If the entire outstanding principal amount of this
Debenture is not converted, the Company shall also issue and deliver to such
holder a new Debenture of like tenor in the principal amount equal to the
principal which was not converted and dated the Original Issue Date. Each
conversion shall be deemed to have been effected immediately prior to the close
of business on the date on which a Notice of Conversion shall have been
delivered as aforesaid, and the person or persons in whose name or names any
certificate or certificates for shares of Common

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Stock shall be issuable upon such conversion shall be deemed to have become the
holder or holders of record of the shares represented thereby at such time on
such date.

                (f)   All shares of Common Stock delivered upon conversion of,
or in lieu of interest payments on, this Debenture will, upon delivery, be duly
authorized, validly issued and fully paid and nonassessable.

                (g)   No fractional shares of Common Stock shall be issued upon
conversion of, or in lieu of interest payments on, this Debenture. Instead of
any fractional share of Common Stock which would otherwise be deliverable upon
the conversion of, or in lieu of interest payments on, the principal of this
Debenture, the Company shall pay to the holder an amount in cash (computed to
the nearest cent) equal to the Average Lowest Closing Price multiplied by the
fraction of a share of Common Stock represented by such fractional interest.

                (h)   The issuance of certificates for shares of Common Stock
upon any conversion of, or in lieu of interest payments on, this Debenture
shall be made without charge to the payee hereof for any tax, unless required
by law, or other expense in respect to the issuance of such certificates, all
of which taxes and expenses shall be paid by the Company, and such certificates
shall be issued only in the name of the registered holder of this Debenture.

                (i)   Notwithstanding anything herein to the contrary, at no
time shall the Registered Holder (including its officers, directors and
affiliates) maintain in the aggregate beneficial ownership (as defined for
purposes of Section 16 of the Securities Exchange Act of 1934, as amended) of
shares of Common Stock in excess of 4.9% of the Company's outstanding Common
Stock and accordingly, the Registered Holder may only convert this Debenture up
to the point where its aggregate beneficial ownership (as defined for purposes
of Section 16 of the Securities Exchange Act of 1934, as amended) of shares of
Common Stock is equal or less than 4.9% of the Company's outstanding Common
Stock.

           7.   REDEMPTION BY COMPANY. (a) If, after the Original Issue Date,
there shall occur a Change in Control of the Company (as defined below), then,
at the option of the Registered Holder, the Company shall, on the effective date
of and subject to the consummation of such Change in Control, redeem this
Debenture for cash from the Registered Holder at a redemption price equal to
125% of the aggregate principal and accrued interest outstanding under this
Debenture. Nothing in this subsection shall limit the Registered Holder's right
to convert this Debenture on or prior to such Change in Control. For purposes
hereof, a "Change in Control" shall be deemed to have occurred if (A) any person
or group (as defined for purposes of Regulation 13D of the Securities Exchange
Act of 1934, as amended (the "Exchange Act")) shall have become the beneficial
owner or owners of more than 50% of the outstanding voting stock of the Company;
(B) there shall have occurred a merger or consolidation in which the Company or
an affiliate of the Company is not the survivor or in which holders of the
Common Stock of the Company shall have become entitled to receive cash,
securities of the Company other than voting common stock or securities of any
other person; (C) at any time persons constituting the Existing Board of
Directors cease for any reason whatsoever to constitute at least a majority of
the members of the Board of Directors of the Company; or (D) there shall have
occurred a sale of all or substantially all the assets of the

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Company. For purposes hereof, the term "Existing Board of Directors" shall
mean the persons constituting the Board of Directors of the Company on the date
hereof, together with each new director whose election, or nomination for
election by the Company's stockholders is approved by a vote of the majority of
the members of the Existing Board of Directors who are in office immediately
prior to the election or nomination of such director.

                (b)   In the event that the Company is subject to Nasdaq Rule
4310 or 4460, if prior to the time the stockholders of the Company shall have
approved the transactions contemplated by the Securities Purchase Agreement as
provided in clause (B) below, the number of shares of Common Stock issued (i)
upon conversion of the Debentures and (ii) in lieu of interest payments on the
Debentures, if any, (collectively, the "Conversion Shares"), shall be equal to
or more than 19.9% of the number of the shares of capital stock outstanding on
the Initial Closing Date (a "Redemption Event"), the Company shall have the
option to (A) redeem the outstanding principal amount of this Debenture at the
redemption price of one hundred twenty-five percent (125%) of the principal
amount hereof plus accrued interest on this Debenture, if any, or (B) call a
special meeting of its stockholders for the purpose of approving the
transactions contemplated by the Securities Purchase Agreement, including the
issuance of the Debentures and Warrants on the terms set forth therein,
together with any other approvals that shall be required so as to cause the
transactions contemplated by the Securities Purchase Agreement to remain in
compliance with the Rules and Regulations of Nasdaq (including Rule 4460 of
Nasdaq's Non-Qualitative Designation Criteria on the occurrence of a Redemption
Event; such approvals are referred to herein as the "Required Approvals"). The
Company shall determine within five (5) business days following the occurrence
of any Redemption Event which of such actions it shall take, and shall promptly
furnish notice to the Purchaser as to such determination, including, if
applicable, a notice of redemption. If the Company does not make a
determination within such five (5) day period, this Debenture shall be redeemed
the first business day following the end of such five (5) day period, if any,
at the redemption price of one hundred twenty-five percent (125%) of the
principal amount hereof plus accrued interest on the Debenture, if any.

                (c)   If the Company elects to call a special meeting of its
stockholders pursuant to Section 6(b) to obtain the Required Approvals, the
Company shall obtain such Required Approvals within thirty (30) days of the
distribution of the notice described in such Section (such thirty (30) day
period is referred to herein as an "Approval Period"). If such approval is not
obtained within the Approval Period, this Debenture shall be redeemed on the
first business day following the Approval Period at the redemption price of one
hundred twenty-five percent (125%) of the principal amount hereof plus accrued
interest on the Debenture, if any.

                (d)   If the Company fails to have a registration statement
effective within one hundred fifty (150) days of the date of the Securities
Purchase Agreement, at the option of the Purchaser, the Company shall redeem
these Debentures at a redemption price of one hundred twenty-five percent
(125%) of the principal amount hereof plus accrued and unpaid interest thereon,
if any.

                If the Company shall be required to redeem the Debentures
pursuant to any of the terms or conditions set forth in this Section 7, the
Company shall remit the redemption price

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to the Registered Holder thereof immediately upon such redemption.

           8.   COVENANTS.

                (a)   The Company will pay all taxes, assessments and
governmental charges lawfully levied or assessed upon it, its property and any
part thereof, and upon its income for profits, and any part thereof, before the
same shall become delinquent; and will duly observe, and conform to, all lawful
requirements of any governmental authority relative to any of its property, and
all covenants, terms and conditions upon or under which any of its property is
held; provided that nothing in this Section shall require the Company to
observe or conform to any requirement of governmental authority so long as the
validity thereof shall be contested in good faith by appropriate proceedings or
to pay any such tax, assessment or governmental charges so long as the validity
thereof shall be contested in good faith by appropriate proceedings and
adequate reserves with respect thereto shall have been set aside on the books
of the Company.

                (b)   Subject to the other provisions of this Debenture, the
Company at all times will maintain its corporate existence and right to carry
on its business and will duly procure all necessary renewals and extensions
thereof and use its best efforts to maintain, preserve and renew all of its
rights, powers, privileges and franchises; PROVIDED, HOWEVER, that nothing
herein contained shall be construed to prevent the Company from ceasing or
omitting to exercise any rights, powers, privileges or franchises which, in the
judgment of the Board, can no longer be profitably exercised, nor to prevent
the consolidation, merger or liquidation of any subsidiary or subsidiaries of
the Company with or into the Company.

                (c)   The Company will at no time close its stock transfer
books against the transfer of any shares of Common Stock issued or issuable
upon the conversion of, or in lieu of interest payments on, the Debentures, in
any manner which interferes with the timely conversion of such Debentures.

                (d)   As used in this Debenture, the term "Common Stock" shall
include all stock of any class or classes (however designated) of the Company,
authorized on or after the date hereof, the holders of which shall have the
right, without limitation as to amount, either to all or to a share of the
balance of current dividends and liquidating dividends after the payment of
dividends and distributions on any shares entitled to preference, and the
holders of which shall ordinarily be entitled to vote for the election of the
directors of the Company. The Company shall not, without the prior written
consent of the Registered Holder of this Debenture, issue any shares of its
capital stock, other than as permitted by Section 4(i) of the Securities
Purchase Agreement, in exchange for Debentures as provided hereunder or upon
exercise of the Warrants in accordance with the terms thereof.

                (e)   The Company will not, by amendment of its Articles of
Incorporation or By-laws or through any reorganization, recapitalization,
transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed hereunder or
pursuant to the Securities Purchase Agreement by the Company, and will at all
times assist in good faith in

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the carrying out of all the provisions of this Debenture and the Securities
Purchase Agreement and in the taking of all such action as may be necessary or
appropriate in order to protect the conversion rights of the Registered Holders
of the Debentures against impairment.

                (f)   In the event of any taking by the Company of a record of
the holders of any class of securities for the purpose of determining the
holders thereof who are entitled to receive any dividend (other than a cash
dividend) or other distribution, any right to subscribe for, purchase or
otherwise acquire any shares of stock of any class or any other securities or
property, or to receive any other right, the Company shall mail to each
Registered Holder of the Debentures, at least ten (10) days prior to the date
specified therein, a notice specifying the date on which any such record is to
be taken for the purpose of such dividend, distribution or right, and the
amount and character of such dividend, distribution or right.

           9.   LIMITATION ON CERTAIN CORPORATE ACTS. The Company hereby
covenants and agrees that upon any consolidation or merger or upon the transfer
of all or substantially all of the property or assets of the Company, the due
and punctual payment of the principal and interest on all the Debentures
according to their tenor and the due and punctual performance and observance of
all the terms, covenants and conditions of the Debentures and the Securities
Purchase Agreement to be kept and performed by the Company shall be expressly
assumed by the corporation formed by such consolidation, or into which the
Company shall have merged or by the purchaser of such property or assets; and
such assumption shall be an express condition of such merger or consolidation
agreement or agreement for the transfer of property or assets.

           10.  EVENTS OF DEFAULT. In case one or more of the following events
of default shall have occurred:

                (a)   default in the due and punctual payment of interest upon
or principal of any of the Debentures as and when the same becomes due and
payable either at maturity or otherwise; or

                (b)   failure to deliver the shares of Common Stock required to
be delivered upon conversion of, or in lieu of interest payments on, the
Debentures in the manner and at the time required by Section 5 of the
Securities Purchase Agreement; or

                (c)   failure of the Company to have authorized the number of
shares of Common Stock issuable upon conversion of, or in lieu of interest
payments on, the Debentures, or exercise of the Warrants; or

                (d) failure on the part of the Company to duly observe or
perform any of its other covenants or agreements contained in, or to cure any
material breach in a material representation or covenant contained in the
Securities Purchase Agreement, the Debentures or the Registration Rights
Agreement for a period of ten (10) days after the date on which written notice
of such failure or breach requiring the same to be remedied has been given by a
Registered Holder to the Company; or

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                (e)   a decree or order by a court having jurisdiction has been
entered adjudging the Company (or any Material Subsidiary (as herein after
defined)) bankrupt or insolvent, or approving a petition seeking reorganization
of the Company (or any Material Subsidiary) under any applicable bankruptcy law
and such decree or order has continued undischarged or unstayed for a period of
thirty (30) days; or a decree or order of a court having jurisdiction for the
appointment of a receiver or liquidator or trustee or assignee in bankruptcy or
insolvency of the Company (or any Material Subsidiary) or of all or
substantially all of its property, or for the winding-up or liquidation of its
affairs, has been entered, and has remained in force undischarged or unstayed
for a period of thirty (30) days; or

                (f)   the Company (or any Material Subsidiary) institutes
proceedings to be adjudicated a voluntary bankrupt, or consents to the filing
of a bankruptcy proceeding against it, or files a petition or answer or consent
seeking reorganization under applicable law, or consents to the filing of any
such petition or to the appointment of a receiver or liquidator or trustee or
assignee in bankruptcy or insolvency of it or of all or substantially all of
its property, or makes an assignment for the benefit of creditors, or admits in
writing its inability to pay its debts generally as they become due; or if the
Company (or any Material Subsidiary) shall suffer any writ of attachment or
execution or any similar process to be issued or levied against it or any
significant part of its property which is not released, stayed, bonded or
vacated within thirty (30) days after its issue or levy; or if the Company (or
any Material Subsidiary) takes corporate action in furtherance of any of the
aforesaid purposes or conditions; or

                (g)   if any default shall occur under any indenture, mortgage,
agreement, instrument or commitment evidencing or under which there is at the
time outstanding any indebtedness of the Company (or a Material Subsidiary), in
excess of $50,000, or which results in such indebtedness, in an aggregate
amount (with other defaulted indebtedness) in excess of $50,000 becoming due
and payable prior to its due date and if such indenture or instrument so
requires, the holder or holders thereof (or a trustee on their behalf) shall
have declared such indebtedness due and payable; or

                (h)   if any of the Company or its subsidiaries shall default
in the observance or performance of any material term or provision of a
material agreement to which it is a party or by which it is bound, and such
default is not waived or cured within the applicable grace period; or

                (i)   if a final judgment which, either alone or together with
other outstanding final judgments against the Company and its subsidiaries,
exceeds an aggregate of $50,000 shall be rendered against the Company (or any
Material Subsidiary) and such judgment shall have continued undischarged or
unstayed for thirty (30) days after entry thereof;

then, in each and every such case other than those specified in clauses (e) and
(f) above, so long as such event of default has not been remedied and unless
the principal of all the Debentures has already become due and payable, the
holder of this Debenture, by notice in writing to the Company, may declare the
principal of this Debenture and the interest accrued thereon, if not already
due and payable, to be due and payable immediately, and upon any such
declaration the same shall become

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and shall be immediately due and payable, anything herein contained to the
contrary notwithstanding and, upon the occurrence of the events specified in
clauses (e) and (f) above, such principal and interest shall automatically
become and shall be due and payable immediately without any action on the part
of any holder of Debentures, anything herein contained to the contrary
notwithstanding.

                For purposes of this Section 10, "Material Subsidiary" means
any subsidiary with respect to which the Company has directly or indirectly
invested, loaned, advanced or guaranteed the obligations of, an aggregate
amount exceeding fifteen percent (15%) of the Company's gross assets, or the
Company's proportionate share of the assets or net income of which (based on
the subsidiary's most recent financial statements) exceed fifteen percent (15%)
of the Company's gross assets or net income, respectively, or the gross
revenues of which exceed fifteen percent (15%) of the gross revenues of the
Company based upon the most recent financial statements of such subsidiary and
the Company.

           11.  TRANSFERABILITY. This Debenture is transferable, in whole or in
part, only in accordance with the terms of Section 5 of the Securities Purchase
Agreement. The Registered Holder may submit a written request, in person or by
his duly authorized attorney, for a transfer of this Debenture on the register
of the Company maintained at its principal offices. The Company may deem and
treat the person in whose name this Debenture is registered as the absolute
owner hereof, for the purpose of receiving payment of the principal thereof and
interest hereon, whether or not the same shall be overdue, and for all other
purposes whatsoever, including but without limitation, the giving of any
written notices required hereunder, and the Company shall not be affected by
any notice to the contrary

           12.  STOCK SPLITS; DIVIDENDS; ADJUSTMENTS; REORGANIZATIONS.

                (a)   If the Company, at any time after the Original Issue
Date, (i) shall pay a stock dividend or otherwise make a distribution or
distributions on any equity securities (including investments or securities
convertible into or exchangeable for such equity securities) in shares of
Common Stock, (ii) issue any securities payable in shares of Common Stock,
(iii) subdivide the outstanding shares of Common Stock into a larger number of
shares, (iv) combine outstanding shares of Common Stock into a smaller number
of shares, the Fixed Price and each Floating Reference Price prior to the date
of any such occurrence (collectively, the "Reference Prices") shall be
multiplied by a fraction of which the numerator shall be the number of shares
of Common Stock outstanding before such event and of which the denominator
shall be the number of shares of Common Stock outstanding after such event. Any
adjustment made pursuant to this Section 12(a) shall become effective
immediately after the record date for the determination of shareholders
entitled to receive such dividend or distribution and shall become effective
immediately after the effective date in the case of an issuance, a subdivision
or a combination.

                (b)   In the event that the Company, at any time after the
Original Issue Date, issues or sells any Common Stock or securities which are
convertible into or exchangeable for its Common Stock or any convertible or
exchangeable securities, or any warrants or other rights to subscribe for or to
purchase or any options for the purchase of its Common Stock or any such
convertible or exchangeable securities (other than shares or options issued
pursuant to the

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Company's employee or director option plans or shares issued upon exercise of
options, warrants or rights outstanding on the date of the Securities Purchase
Agreement and listed in the Company's most recent periodic report filed under
the Exchange Act) at an effective purchase price per share which is less than
the Fixed Price then in effect, then the Fixed Price in effect immediately
prior to such issue or sale shall be reduced effective concurrently with such
issue or sale to an amount determined by multiplying such Fixed Price then in
effect by a fraction, (x) the numerator of which shall be the sum of (1) the
number of shares of Common Stock outstanding immediately prior to such issue or
sale, plus (2) the number of shares of Common Stock which the aggregate
consideration received by the Company for such additional shares would purchase
at such Fixed Price then in effect; and (y) the denominator of which shall be
the number of shares of Common Stock of the Company outstanding immediately
after such issue or sale.

                For the purposes of the foregoing adjustment, in the case of
the issuance of any convertible or exchangeable securities, warrants, options
or other rights to subscribe for or to purchase or exchange for, shares of
Common Stock ("Exchangeable Securities"), the maximum number of shares of
Common Stock issuable upon exercise, conversion or exchange of such
Exchangeable Securities shall be deemed to be outstanding, provided that no
further adjustment shall be made upon the actual issuance of Common Stock upon
exercise, exchange or conversion of such Exchangeable Securities.

                (c)   If the Company, at any time after the Original Issue
Date, shall distribute to all holders of Shares of Common Stock evidences of
its indebtedness or assets or rights or warrants to subscribe for or purchase
any security (excluding those referred to in Section 12(b) above) then in each
such case the Fixed Price thereafter shall be determined by multiplying the
Fixed Price in effect immediately prior to the record date fixed for
determination of shareholders entitled to receive such distribution by a
fraction of which the denominator shall be the Market Price for Shares of
Common Stock (as defined below) determined as of the record date mentioned
above, and of which the numerator shall be such Market Price for Shares of
Common Stock on such record date less the then fair market value at such record
date of the portion of such assets or evidences of indebtedness so distributed
applicable to one outstanding share of Common Stock as determined by the Board
in good faith; PROVIDED, however that in the event of a distribution exceeding
25% of the net assets of the Company, such fair market value shall be
determined by an Appraiser selected in good faith by the Board and holders of a
majority in interest of the Debentures. In either case the adjustments shall be
described in a statement provided to all holders of Debentures of the portion
of assets or evidences of indebtedness so distributed or such subscription
rights applicable to one outstanding share of Common Stock. Such adjustment
shall be made whenever any such distribution is made and shall become effective
immediately after the record date mentioned above.

                "Market Price for Shares of Common Stock" shall mean the price
of one share of Common Stock determined as follows:

                      (i)  If the Common Stock is then listed or quoted on
either the NASD Bulletin Board, the NASDAQ SmallCap Market or the NASDAQ
National Market, the reported closing bid price for the Common Stock as
reported by Bloomberg or the Journal on such day (or, if not so reported, as
otherwise reported by The NASDAQ Small Cap Market, NASDAQ National

<PAGE>

Market or the NASD Bulletin Board, as the case may be);

                      (ii)  If the Common Stock is listed on the New York Stock
Exchange or the American Stock Exchange, the closing bid price for the Common
Stock on such exchange on such day as reported by Bloomberg or the Journal;

                      (iii)  If neither (i) nor (ii) apply but the Common Stock
is quoted in the over-the-counter market, another recognized exchange or on the
pink sheets, the last reported bid price thereof on such date; and

                      (iv)  If neither clause (i), (ii) or (iii) above applies,
the market value as determined by a nationally recognized investment banking
firm or other nationally recognized financial advisor retained by the Company
for such purpose, taking into consideration, among other factors, the earnings
history, book value and prospects for the Company, and the prices at which
shares of Common Stock recently have been traded. Such determination shall be
conclusive and binding on all persons.

                (d)   (1) In the event that at any time or from time to time
after the Original Issue Date, the Common Stock issuable upon the conversion
of, or in lieu of interest payments on, the Debentures is changed into the same
or a different number of shares of any class or classes of stock, whether by
merger, consolidation, recapitalization, reclassification or otherwise (other
than a subdivision or combination of shares or stock dividend or reorganization
provided for elsewhere in this Paragraph 12), then and as a condition to each
such event provision shall be made in a manner reasonably acceptable to the
holders of Debentures so that each holder of Debentures shall have the right
thereafter to convert such Debenture into, and to receive in lieu of interest
payments, the kind of stock receivable upon such recapitalization,
reclassification or other change by holders of shares of Common Stock, all
subject to further adjustment as provided herein. In such event, the formulae
set forth herein for conversion and redemption shall be equitably adjusted to
reflect such change in number of shares or, if shares of a new class of stock
are issued, to reflect the market price of the class or classes of stock
(applying the same factors used in determining the Fixed Price) issued in
connection with the above described transaction.

                      (2)  If at any time or from time to time after the Initial
Closing Date there is a capital reorganization of the Common Stock, including by
way of a sale of all or substantially all of the assets of the Company (other
than a recapitalization, subdivision, combination, reclassification or exchange
of shares provided for elsewhere in this Paragraph 12), then, as a part of and a
condition to such reorganization, provision shall be made in a manner reasonably
acceptable to the holders of the Debentures so that the holders of the
Debentures shall thereafter be entitled to receive upon conversion of, or in
lieu of interest payments on, the Debentures the number of shares of stock or
other securities or property to which a holder of the number of shares of Common
Stock deliverable upon conversion, or in lieu of interest payments on, the
Debentures would have been entitled on such capital reorganization. In any such
case, appropriate adjustment shall be made in the application of the provisions
of this Paragraph 12 with respect to the rights of the holders of the Debentures
after the reorganization to the end that the provisions of this Paragraph 12
shall be applicable after that event and be as nearly equivalent as

<PAGE>

may be practicable, including, by way of illustration and not limitation, by
equitably adjusting the formulae set forth herein for conversion and redemption
to reflect the market price of the securities or property (applying the same
factors used in determining the Market Price for Shares of Common Stock) issued
in connection with the above described transaction.

                (e)  If at any time during the period ending twelve (12) months
after the Original Issue Date, (but not including up to $1,000,000 of the
$5,000,000 private offering of the Company's debentures that the Company was in
the process of placing prior to the Initial Closing Date and has subscription
agreements from investors for $275,000 as of the Initial Closing Date) the
Company sells or agrees to sell (including pursuant to a letter of intent, term
sheet, or similar means) shares of Common Stock or securities or options
convertible into, exercisable for, or exchangeable for, shares of Common Stock
(other than (i) a sale pursuant to a bona fide registered public offering of
shares of Common Stock by the Company conducted on the basis of a firm
commitment underwriting raising at least $10,000,000 and (ii) shares or options
issued pursuant to the Company's employee, director or consultant stock option
plans) then, if the effective or maximum sales price of the shares of Common
Stock with respect to such transaction (including the effective or maximum
conversion exercise or exchange price) ("Other Price") is less than the Fixed
Price of the Debentures at such time, the Company, at the option of a holder
exercised by written notice to the Company, shall adjust the Fixed Price
applicable to the Debentures of such holder not yet converted in form and
substance reasonably satisfactory to such holder of Debentures so that the
conversion price applicable to those Debentures shall, in no event, be greater,
after giving effect to all other adjustments contained therein, than the Other
Price.
                (f) Whenever any element of the Applicable Conversion Price is
adjusted pursuant to Section 12(a), (b), (c), (d) or (e), the Company shall
promptly mail to each holder of the Debentures, a notice setting forth the
Applicable Conversion Price after such adjustment and setting forth a brief
statement of the facts requiring such adjustment.

                (g)   In the event of any taking by the Company of a record
date of the holders of any class of securities for the purpose of determining
the holders thereof who are entitled to receive any dividend or other
distribution, any security or right convertible or exchangeable into or
entitling the holder thereof to receive additional shares of Common Stock, or
any right to subscribe for, purchase or otherwise acquire any shares of stock
of any class or any other securities or property, or to receive any other
right, the Company, shall deliver to each holder of Debentures at least thirty
(30) days prior to the date specified therein, a notice specifying the date on
which any such record is to be taken for the purpose of such dividend,
distribution, security or right and the amount and character of such dividend,
distribution, security or right.

           13.  REMEDIES CUMULATIVE. The rights, powers and remedies given to
the payee and Company under this Debenture shall be in addition to all rights,
powers and remedies given to it by virtue of the Securities Purchase Agreement,
any document or instrument executed in connection therewith, or any statute or
rule of law.

           14.  NON-WAIVER. Any forbearance, failure or delay by the payee or
Company in exercising any right, power or remedy under this Debenture, the
Securities Purchase Agreement, any documents or instruments executed in
connection therewith or otherwise available to the payee

<PAGE>

or Company shall not be deemed to be a waiver of such right, power or remedy,
nor shall any single or partial exercise of any right, power or remedy preclude
the further exercise thereof.

           15.  MODIFICATIONS AND WAIVERS. No modification or waiver of any
provision of this Debenture, the Securities Purchase Agreement or any documents
or instruments executed in connection therewith shall be effective unless it
shall be in writing and signed by the payee and Company, and any such
modification or waiver shall apply only in the specific instance for which
given.

           16.  ATTORNEY'S FEES. If this Debenture shall not be paid when due
and shall be placed by the Registered Holder hereof in the hands of an attorney
for collection, through legal proceedings or otherwise, or if this Debenture
shall not be converted into shares of Common Stock on the Conversion Date,
subject to the provisions of Section 6 hereof, and an action is brought by the
Registered Holder with respect thereto, the Company shall pay attorney's fees
to the Registered Holder or if more than one Registered Holder then the fees of
one lead attorney hereof, together with reasonable costs and expenses of
collection or enforcement incurred in connection with any such action.

           17.  ENFORCEMENT; SPECIFIC PERFORMANCE. (a) In case any one or more
Events of Default shall occur and be continuing, a Registered Holder of a
Debenture then outstanding may proceed to protect and enforce the rights of
such holder by an action at law, suit in equity or other appropriate
proceeding, whether for the specific performance of any agreement contained
herein or for an injunction against a violation of any of the terms hereof or
thereof, or in aid of the exercise of any power granted hereby or thereby or by
law. Each holder agrees that it will give written notice to the other holders
prior to instituting any such action.

                (b)   The Company expressly agrees that each Registered Holder
may not have adequate remedies at law if the Company does not perform its
obligations under this Debenture. Upon a breach of the terms or covenants of
this Debenture by the Company, the Registered Holder shall, each in addition to
all other remedies, be entitled to obtain injunctive relief, and an order for
specific performance of the Company's obligations hereunder.

           18.  GOVERNING LAW. This Debenture and the rights and obligations of
the parties hereto, shall be governed, construed and interpreted according to
the laws of the State of New York. The Company agrees that any final judgment
after exhaustion of all appeals or the expiration of time to appeal in any such
action or proceeding shall be conclusive and binding, and may be enforced in
any federal or state court in the United States by suit on the judgment or in
any other manner provided by law. Nothing contained in this Debenture shall
affect or limit the right of the Registered Holder to serve any process or
notice or motion or other application in any other manner permitted by law, or
limit or affect the right of the Registered Holder to bring any action or
proceeding against the Company or any of its property in the courts of any
other jurisdiction. The Company hereby consents to the jurisdiction of the
federal courts whose districts encompass any part of the City of New York or
the state courts of the State of New York sitting in the City of New York in
connection with any dispute arising under this Debenture, and hereby waives, to
the maximum extent permitted by law, any objection, including any objections
based on FORUM NON CONVENIENS, to the bringing of

<PAGE>

any such proceeding in such jurisdictions.

           19.  PAYEE DEFINED. The term "payee" as used herein shall be deemed
to include the payee and its successors, endorsees and assigns.

           20.  WAIVER OF PRESENTMENT, ETC. The undersigned hereby waives
presentment, demand for payment, protest, notice of protest and notice of
non-payment hereof.

           21.  HEADINGS. The headings contained in this Debenture are for
reference purposes only and shall not affect the meaning of interpretation of
this Debenture.

           22.   NOTICES. Any notice to any party required or permitted
hereunder shall be given in writing (unless otherwise specified herein) and
shall be effective upon personal delivery, via facsimile (upon receipt of
confirmation of error-free transmission) or two business days following deposit
of such notice with an internationally recognized courier service, with postage
prepaid and addressed to such party at the address set forth in the first
paragraph of this Agreement with a copy to the Company at the address set forth
below, and to the other parties thereunto entitled at the following addresses,
or at such other addresses as a party may designate by five days advance
written notice to each of the other parties hereto.

           COMPANY:  Airtech International Group, Inc. 15400 Knoll Trail, Suite
#200 Dallas, Texas 77063 ATTENTION: C.J. Comu, CEO Tel: (972) 960-9400 x111
Fax: (972) 960-9395 REGISTERED HOLDER:PK Investors LLC c\o WEC Asset Management
LLC 110 Colabaugh Pond Road Croton-on-Hudson, New York 10520 ATTENTION: Daniel
J. Saks Tel: (914) 271-2211 Fax: (914) 271-0889 WITH A COPY TO: Pryor Cashman
Sherman & Flynn LLP 410 Park Avenue New York, New York 10022 ATTENTION: Mark
Saks, Esq. Tel: (212) 326-0140 Fax: (212) 326-0806

           23.   AMENDMENTS AND MODIFICATION. Changes in or additions to this
Debenture may be made, and compliance with any covenant or condition herein
set forth may be omitted only if the Company shall obtain the written consent
from the Registered Holder of this Debenture.

     [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK, SIGNATURE PAGE TO FOLLOW]

IN WITNESS WHEREOF, the Company has caused this Debenture to be executed as of
February 22, 2000.

                                    AIRTECH INTERNATIONAL GROUP, INC.

                                    By:______________________________________
                                        Name:
                                        Title:

<PAGE>

                              NOTICE OF CONVERSION

                  The conversion form appearing below should only be executed by
the Registered Holder desiring to convert all or part of the principal amount of
the Debenture attached hereto.
                                CONVERSION FORM
                Date:   ________________________________

                TO:   AIRTECH INTERNATIONAL GROUP, INC.

                The undersigned hereby exercises the conversion privilege upon
the terms and conditions set forth in the attached Debenture, to the extent of
the maximum number of shares of Common Stock issuable pursuant to the terms of
Section 6 of the Debenture, and accordingly, authorizes the Company to apply
$__________ principal amount of the attached Debenture to payment in full for
such shares of Common Stock. Please register such shares and make delivery
thereof as follows:

                Registered in the Name of (Giving First or Middle Name in Full)

                Name ____________________________________________________
                       (Please Print)

                Address _________________________________________________

<PAGE>

                              DELIVERY INSTRUCTIONS

                To be completed ONLY if Certificates are to be mailed to
persons other than the Registered Holder.

                Name ________________________________________________
                      (Please Print)

                Address _____________________________________________

                Signature ___________________________________________<PAGE>

                                   EXHIBIT 4.5

THIS WARRANT AND THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY
STATE, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT, THE RULES AND
REGULATIONS THEREUNDER OR ANY STATE SECURITIES LAWS OR THE PROVISIONS OF THIS
WARRANT.

                     No. of Shares of Common Stock: 250,000

                                     WARRANT

                           To Purchase Common Stock of

                        AIRTECH INTERNATIONAL GROUP, INC.

                  THIS IS TO CERTIFY THAT PK Investors LLC, a Delaware limited
liability company, or its registered assigns, is entitled, at any time from the
Warrant Issuance Date (as hereinafter defined) to the Expiration Date (as
hereinafter defined), to purchase from Airtech International Group, Inc., a
Wyoming corporation (the "Company"), two hundred fifty thousand (250,000) shares
of Common Stock (as hereinafter defined and subject to adjustment as provided
herein), in whole or in part, including fractional parts, at a purchase price
per share equal to $2.585 (subject to any adjustments made to such amount
pursuant to Section 4 hereto) on the terms and conditions and pursuant to the
provisions hereinafter set forth.

1.   DEFINITIONS

                  As used in this Warrant, the following terms have the
respective meanings set forth below:

                  "Additional Shares of Common Stock" shall mean all shares of
Common Stock issued by the Company after the Initial Closing Date, other than
Warrant Stock.

                  "Book Value" shall mean, in respect of any share of Common
Stock on any date herein specified, the consolidated book value of the Company
as of the last day of any month immediately preceding such date, divided by the
number of Fully Diluted Outstanding shares of Common Stock as determined in
accordance with GAAP (assuming the payment of the exercise prices for such
shares) by a firm of independent certified public accountants of recognized
national standing selected by the Company and reasonably acceptable to the
Holder.

                  "Business Day" shall mean any day that is not a Saturday or
Sunday or a day on which banks are required or permitted to be closed in the
State of New York.

<PAGE>

                   "Commission" shall mean the Securities and Exchange
Commission or any other federal agency then administering the Securities Act and
other federal securities laws.

                  "Common Stock" shall mean (except where the context otherwise
indicates) the Common Stock, par value $.05 per share, of the Company as
constituted on the Initial Closing Date, and any capital stock into which such
Common Stock may thereafter be changed, and shall also include (i) capital stock
of the Company of any other class (regardless of how denominated) issued to the
holders of shares of Common Stock upon any reclassification thereof which is
also not preferred as to dividends or assets over any other class of stock of
the Company and which is not subject to redemption and (ii) shares of common
stock of any successor or acquiring corporation received by or distributed to
the holders of Common Stock of the Company in the circumstances contemplated by
Section 4.4.

                  "Convertible Securities" shall mean evidences of indebtedness,
shares of stock or other securities which are convertible into or exchangeable,
with or without payment of additional consideration in cash or property, for
shares of Common Stock, either immediately or upon the occurrence of a specified
date or a specified event.

                  "Current Warrant Price" shall mean, $2.585 subject to any
adjustments to such amount made in accordance with Section 4 hereof.

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

                  "Exercise Period" shall mean the period during which this
Warrant is exercisable pursuant to Section 2.1.

                  "Expiration Date" shall February 22, 2005.

                  "Fully Diluted Outstanding" shall mean, when used with
reference to Common Stock, at any date as of which the number of shares thereof
is to be determined, all shares of Common Stock Outstanding at such date and all
shares of Common Stock issuable in respect of this Warrant, outstanding on such
date, and other options or warrants to purchase, or securities convertible into,
including without limitation the shares of Common Stock outstanding on such date
which would be deemed outstanding in accordance with GAAP for purposes of
determining book value or net income per share.

                  "GAAP" shall mean generally accepted accounting principles in
the United States of America as from time to time in effect.
                  "Holder" shall mean the Person in whose name the Warrant or
Warrant Stock set forth herein is registered on the books of the Company
maintained for such purpose.

                  "Initial Closing Date" shall have the meaning set forth in the
Securities Purchase Agreement.

<PAGE>

                  "Market Price" per Common Share means the average of the
closing bid prices of the Common Shares as reported on the National Association
of Securities Dealers Automated Quotation System for the National Market,
("NASDAQ") or, if such security is not listed or admitted to trading on the
NASDAQ, on the principal national security exchange or quotation system on which
such security is quoted or listed or admitted to trading, or, if not quoted or
listed or admitted to trading on any national securities exchange or quotation
system, the closing bid price of such security on the over-the-counter market on
the day in question as reported by the National Association of Security Dealers,
Inc., or a similar generally accepted reporting service, as the case may be, for
the five (5) trading days immediately preceding the date of determination.

                  "Other Property" shall have the meaning set forth in Section
4.4.

                  "Outstanding" shall mean, when used with reference to Common
Stock, at any date as of which the number of shares thereof is to be determined,
all issued shares of Common Stock, except shares then owned or held by or for
the account of the Company or any subsidiary thereof, and shall include all
shares issuable in respect of outstanding scrip or any certificates representing
fractional interests in shares of Common Stock.

                  "Person" shall mean any individual, sole proprietorship,
partnership, joint venture, trust, incorporated organization, association,
corporation, institution, public benefit corporation, entity or government
(whether federal, state, county, city, municipal or otherwise, including,
without limitation, any instrumentality, division, agency, body or department
thereof).

                  "Registration Rights Agreement" shall mean the Registration
Rights Agreement dated a date even herewith by and between the Company and PK
Investors LLC, as it may be amended from time to time.

                  "Restricted Common Stock" shall mean shares of Common Stock
which are, or which upon their issuance on the exercise of this Warrant would
be, evidenced by a certificate bearing the restrictive legend set forth in
Section 9.1(a).

                  "Securities Act" shall mean the Securities Act of 1933, as
amended, or any successor federal statute, and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time.

                  "Securities Purchase Agreement" shall mean the Securities
Purchase Agreement dated as of a date even herewith by and between the Company
and PK Investors LLC, as it may be amended from time to time.
                  "Transfer" shall mean any disposition of any Warrant or
Warrant Stock or of any interest in either thereof, which would constitute a
sale thereof within the meaning of the Securities Act.

                  "Transfer Notice" shall have the meaning set forth in Section
9.2.

                  "Warrant Issuance Date" shall mean any date on which Warrants
are issued pursuant

<PAGE>

to the Securities Purchase Agreement.

                  "Warrants" shall mean this Warrant and all warrants issued
upon transfer, division or combination of, or in substitution for, any thereof.
All Warrants shall at all times be identical as to terms and conditions and
date, except as to the number of shares of Common Stock for which they may be
exercised.

                  "Warrant Price" shall mean an amount equal to (i) the number
of shares of Common Stock being purchased upon exercise of this Warrant pursuant
to Section 2.1, multiplied by (ii) the Current Warrant Price as of the date of
such exercise.

                  "Warrant Stock" shall mean the shares of Common Stock
purchased by the holders of the Warrants upon the exercise thereof.

2.   EXERCISE OF WARRANT

                  2.1. MANNER OF EXERCISE. From and after the Warrant Issuance
Date and until 5:00 P.M., New York City time, on the Expiration Date, Holder may
exercise this Warrant, on any Business Day, for all or any part of the number of
shares of Common Stock purchasable hereunder.

                  In order to exercise this Warrant, in whole or in part, Holder
shall deliver to the Company at the office or agency designated by the Company
pursuant to Section 12, (i) a written notice of Holder's election to exercise
this Warrant, which notice shall specify the number of shares of Common Stock to
be purchased, (ii) payment by cash, check or bank draft payable to the Company
of the Warrant Price in cash or by wire transfer or cashier's check drawn on a
United States bank or by the Holder's surrender of Warrant Stock (or the right
to receive such number of shares) having an aggregate Market Price equal to the
Warrant Price for all shares then being purchased and (iii) this Warrant. Such
notice shall be substantially in the form of the subscription form appearing at
the end of this Warrant as EXHIBIT A, duly executed by Holder or its agent or
attorney. Upon receipt of the items referred to in clauses (i), (ii) and (iii)
above, the Company shall, as promptly as practicable, and in any event within
five (5) Business Days thereafter, execute or cause to be executed and deliver
or cause to be delivered to Holder a certificate or certificates representing
the aggregate number of full shares of Common Stock issuable upon such exercise,
together with cash in lieu of any fraction of a share, as hereinafter provided.
The stock certificate or certificates so delivered shall be, to the extent
possible, in such denomination or denominations as Holder shall request in the
notice and shall be registered in the name of Holder or, subject to Section 9,
such other name as shall be designated in the notice. This Warrant shall be
deemed to have been exercised and such certificate or certificates shall be
deemed to have been issued, and Holder or any other Person so designated to be
named therein shall be deemed to have become a holder of record of such shares
for all purposes, as of the date the Warrant has been exercised by payment to
the Company of the Warrant Price. If this Warrant shall have been exercised in
part, the Company shall, at the time of delivery of the certificate or
certificates representing Warrant Stock, deliver to Holder a new Warrant
evidencing the rights of Holder to purchase the unpurchased shares of Common
Stock called for by this Warrant, which new Warrant shall in all other respects
be identical with this Warrant.

<PAGE>

                  The Holder shall be entitled to exercise the Warrant
notwithstanding the commencement of any case under 11 U.S.C. Section 101 ET SEQ.
(the "Bankruptcy Code"). In the event the Company is a debtor under the
Bankruptcy Code, the Company hereby waives to the fullest extent permitted any
rights to relief it may have under 11 U.S.C. Section 362 in respect of the
Holder's exercise right. The Company hereby waives to the fullest extent
permitted any rights to relief it may have under 11 U.S.C. Section 362 in
respect of the exercise of the Warrant. The Company agrees, without cost or
expense to the Holder, to take or consent to any and all action necessary to
effectuate relief under 11 U.S.C. Section 362.

                  2.2. PAYMENT OF TAXES AND CHARGES. All shares of Common Stock
issuable upon the exercise of this Warrant pursuant to the terms hereof shall be
validly issued, fully paid and nonassessable, and without any preemptive rights.
The Company shall pay all expenses in connection with, and all taxes and other
governmental charges that may be imposed with respect to, the issue or delivery
thereof.

                  2.3. FRACTIONAL SHARES. The Company shall not be required to
issue a fractional share of Common Stock upon exercise of any Warrant. As to any
fraction of a share which Holder would otherwise be entitled to purchase upon
such exercise, the Company shall pay a cash adjustment in respect of such final
fraction in an amount equal to the same fraction of the Market Price per share
of Common Stock on the relevant exercise date.

                  2.4. CONTINUED VALIDITY. A holder of shares of Common Stock
issued upon the exercise of this Warrant, in whole or in part (other than a
holder who acquires such shares after the same have been publicly sold pursuant
to a Registration Statement under the Securities Act or sold pursuant to Rule
144 thereunder), shall continue to be entitled with respect to such shares to
all rights to which it would have been entitled as Holder under Sections 9, 10
and 14 of this Warrant. The Company will, at the time of exercise of this
Warrant, in whole or in part, upon the request of Holder, acknowledge in
writing, in form reasonably satisfactory to Holder, its continuing obligation to
afford Holder all such rights; PROVIDED, HOWEVER, that if Holder shall fail to
make any such request, such failure shall not affect the continuing obligation
of the Company to afford to Holder all such rights.

              2.5. RIGHT TO CONVERT WARRANT. The Holder shall have the right to
convert, in whole or in part, this Warrant (the "Conversion Right") at any
time prior to the expiration of the Exercise Period, into shares of Common
Stock in accordance with this Section 2.5, provided that such Conversion
Right shall not be available to the Holder in the event that the registration
statement filed pursuant to the Registration Rights Agreement covering the
Registrable Securities (as defined in the Registration Rights Agreement) is
effective. Upon exercise of the Conversion Right, the Company shall deliver
to the Holder (without payment by the Holder of the Warrant Price) that
number of shares of Common Stock equal to the quotient obtained by dividing
(x) the value of the portion of this Warrant being converted at the time the
Conversion Right is exercised (determined by subtracting the Warrant Price
for the portion of this Warrant being converted (in effect immediately prior
to the exercise of the Conversion Right) from the amount obtained by
multiplying the number of shares of Common Stock issuable upon the whole or
partial exercise of this Warrant, as the case may be, by the Market Price
immediately prior to the exercise of the Conversion Right)

<PAGE>

by (y) the Market Price of one share of Common Stock immediately prior to the
exercise of the Conversion Right.

                  The Conversion Right may be exercised by the Holder, at any
time or from time to time, prior to its expiration, on any business day by
delivering a written notice (the "Conversion Notice") to the Company at the
offices of the Company, exercising the Conversion Right and specifying (i) the
total number of shares of Common Stock the Holder will purchase pursuant to the
conversion and (ii) a place and date not less than two (2) nor more than twenty
(20) Business Days from the date of the Conversion Notice for the closing of
such purchase.

                  At any closing under this Section 2.5, (i) the Holder will
surrender this Warrant and (ii) the Company will deliver to the Holder a
certificate or certificates for the number of shares of Common Stock issuable
upon such conversion. If this Warrant shall have been converted only in part,
the Company shall, at the time of delivery of said stock certificate or
certificates, deliver to the Holder a new Warrant evidencing the rights of the
Holder to purchase the remaining shares of Common Stock called for by this
Warrant, which new Warrant shall in all other respects be identical to this
Warrant, or, at the request of the Holder, appropriate notation may be made on
this Warrant and the same returned to the Holder. The Company shall pay all
expenses, taxes and other charges payable in connection with the preparation,
issue and delivery of such stock certificates and new Warrants, except that, in
case such stock certificates and/or new Warrants shall be registered in a name
or names other than the name of the Holder, funds sufficient to pay all stock
transfer taxes that are payable upon the issuance of such stock certificates or
new Warrants shall be paid by the Holder at the time of delivering the notice of
exercise mentioned above.

3.   TRANSFER, DIVISION AND COMBINATION

                  3.1. TRANSFER. Subject to compliance with Sections 9, transfer
of this Warrant and all rights hereunder, in whole or in part, shall be
registered on the books of the Company to be maintained for such purpose, upon
surrender of this Warrant at the principal office of the Company referred to in
Section 2.1 or the office or agency designated by the Company pursuant to
Section 12, together with a written assignment of this Warrant substantially in
the form of EXHIBIT B hereto duly executed by Holder or its agent or attorney.
Upon such surrender, the Company shall, subject to Section 9, execute and
deliver a new Warrant or Warrants in the name of the assignee or assignees and
in the denomination specified in such instrument of assignment, and shall issue
to the assignor a new Warrant evidencing the portion of this Warrant not so
assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly
assigned in compliance with Section 9, may be exercised by a new Holder for the
purchase of shares of Common Stock without having a new Warrant issued.
                  3.2. DIVISION AND COMBINATION. Subject to Section 9, this
Warrant may be divided or combined with other Warrants upon presentation hereof
at the aforesaid office or agency of the Company, together with a written notice
specifying the names and denominations in which new Warrants are to be issued,
signed by Holder or its agent or attorney. Subject to compliance with Section
3.1 and with Section 9, as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or
Warrants in exchange for the Warrant or Warrants to be divided or combined in
accordance with such notice.

<PAGE>

                  3.3. EXPENSES.  The Company shall prepare, issue and deliver
at its own expense the new Warrant or Warrants under this Section 3.

                  3.4. MAINTENANCE OF BOOKS. The Company agrees to maintain, at
its aforesaid office or agency, books for the registration and the registration
of transfer of the Warrants.

4.   ADJUSTMENTS

                  The number of shares of Common Stock for which this Warrant is
exercisable, or the price at which such shares may be purchased upon exercise of
this Warrant, shall be subject to adjustment from time to time as set forth in
this Section 4. The Company shall give Holder notice of any event described
below which requires an adjustment pursuant to this Section 4 at the time of
such event.

                  4.1. STOCK DIVIDENDS, SUBDIVISIONS AND COMBINATIONS. If at any
time the Company shall:

                           (a)      take a record of the holders of its Common
Stock for the purpose of entitling them to receive a dividend payable in, or
other distribution of, Additional Shares of Common Stock,

                           (b)      subdivide its outstanding shares of Common
Stock into a larger number of shares of Common Stock, or

                           (c)      combine its outstanding shares of Common
Stock into a smaller number of shares of Common Stock,

then (i) the number of shares of Common Stock for which this Warrant is
exercisable immediately after the occurrence of any such event shall be adjusted
to equal the number of shares of Common Stock which a record holder of the same
number of shares of Common Stock for which this Warrant is exercisable
immediately prior to the occurrence of such event would own or be entitled to
receive after the happening of such event, and (ii) the Current Warrant Price
shall be adjusted to equal (A) the Current Warrant Price multiplied by the
number of shares of Common Stock for which this Warrant is exercisable
immediately prior to the adjustment divided by (B) the number of shares for
which this Warrant is exercisable immediately after such adjustment.

                  4.2.     CERTAIN OTHER DISTRIBUTIONS.

                           (a)      If at any time prior to the Expiration Date
the Company shall take a record of the holders of its Common Stock for the
purpose of entitling them to receive any dividend or other distribution of:

                                          (i)  cash,
                                          (ii) any evidences of its
                            indebtedness, any shares of its stock or any other
                            securities or property of any nature whatsoever
                            (other than cash, Convertible Securities or
                            Additional Shares of Common Stock), or

<PAGE>

                                          (iii) any warrants or other rights to
                            subscribe for or purchase any evidences of its
                            indebtedness, any shares of its stock or any other
                            securities or property of any nature whatsoever
                            (other than cash, Convertible Securities or
                            Additional Shares of Common Stock),

then Holder shall be entitled to receive such dividend or distribution as if
Holder had exercised the Warrant. A reclassification of the Common Stock (other
than a change in par value, or from par value to no par value or from no par
value to par value) into shares of Common Stock and shares of any other class of
stock shall be deemed a distribution by the Company to the holders of its Common
Stock of such shares of such other class of stock within the meaning of this
Section 4.2 and, if the outstanding shares of Common Stock shall be changed into
a larger or smaller number of shares of Common Stock as a part of such
reclassification, such change shall be deemed a subdivision or combination, as
the case may be, of the outstanding shares of Common Stock within the meaning of
Section 4.1.

                           (b) In case the Company shall issue any Common Stock
or any rights, options or warrants to all holders of record of its Common Stock
(each an "Issuance") entitling all holders to subscribe for or purchase shares
of Common Stock at a price per share less than the Market Price per share of the
Common Stock on the date fixed for such issue, the Current Warrant Price in
effect immediately prior to the close of business on the date fixed for such
determination shall be reduced to the amount determined by multiplying such
Current Warrant Price by a fraction, the numerator of which shall be the number
of shares of Common Stock outstanding immediately prior to the close of business
on the date fixed for such determination plus the number of shares of Common
Stock which the aggregate of the offering price of the total number of shares of
Common Stock so offered for subscription or purchase would purchase at such
Market Price and the denominator of which shall be the number of shares of
Common Stock outstanding immediately prior to the close of business on the date
fixed for such determination plus the number of shares of Common Stock so
offered for subscription or purchase, such reduced amount to become effective
immediately after the close of business on the date fixed for such
determination. For the purposes of this clause (b), (i) the number of shares of
Common Stock at any time outstanding shall not include shares held in the
treasury of the Company and (ii) in the case of any rights, options or warrants
which expire by their terms not more than 60 days after the date of issue, sale,
grant or assumption thereof, no adjustment of the Current Warrant Price shall be
made until the expiration or exercise of all rights, options or warrants,
whereupon such adjustment shall be made in the manner provided in this clause
(b), but only with respect to the shares of Common Stock actually issued
pursuant thereto. Such adjustment shall be made successively whenever any event
specified above shall occur up to February 22, 2003. For Company Issuances after
February 22, 2003 no adjustment pursuant to this Section 4.2 shall be made. The
Company agrees to notify the Holders as soon as practical of any Issuances after
February 22, 2003 to allow reasonable time to convert. In the event that any or
all rights, options or warrants covered by this clause (b) are not so issued or
expire or terminate before being exercised, the Current Warrant Price then in
effect shall be appropriately readjusted.

                  4.3. OTHER PROVISIONS APPLICABLE TO ADJUSTMENTS UNDER THIS
SECTION. The following provisions shall be applicable to the making of
adjustments of the number of shares of

<PAGE>

Common Stock for which this Warrant is exercisable and the Current Warrant
Price provided for in this Section 4:

                           (a)      WHEN ADJUSTMENTS TO BE MADE.  The
adjustments required by this Section 4 shall be made whenever and as often as
any specified event requiring an adjustment shall occur. For the purpose of any
adjustment, any specified event shall be deemed to have occurred at the close of
business on the date of its occurrence.

                           (b)      FRACTIONAL INTERESTS.  In computing
adjustments under this Section 4, fractional interests in Common Stock shall be
taken into account to the nearest 1/10th of a share.

                           (c)      WHEN ADJUSTMENT NOT REQUIRED.  If the
Company shall take a record of the holders of its Common Stock for the purpose
of entitling them to receive a dividend or distribution or subscription or
purchase rights and shall, thereafter and before the distribution to
stockholders thereof, legally abandon its plan to pay or deliver such dividend,
distribution, subscription or purchase rights, then thereafter no adjustment
shall be required by reason of the taking of such record and any such adjustment
previously made in respect thereof shall be rescinded and annulled.

                           (d)      CHALLENGE TO GOOD FAITH DETERMINATION.
Whenever the Board of Directors of the Company shall be required to make a
determination in good faith of the fair value of any item under this Section 4,
such determination may be challenged in good faith by the Holder, and any
dispute shall be resolved by an investment banking firm of recognized national
standing selected by the Holder and reasonably acceptable to the Company.

                  4.4. REORGANIZATION, RECLASSIFICATION, MERGER, CONSOLIDATION
OR DISPOSITION OF ASSETS. In case the Company shall reorganize its capital,
reclassify its capital stock, consolidate or merge with or into another
corporation (where the Company is not the surviving corporation or where there
is a change in or distribution with respect to the Common Stock of the Company),
or sell, transfer or otherwise dispose of all or substantially all its property,
assets or business to another corporation and, pursuant to the terms of such
reorganization, reclassification, merger, consolidation or disposition of
assets, shares of common stock of the successor or acquiring corporation, or any
cash, shares of stock or other securities or property of any nature whatsoever
(including warrants or other subscription or purchase rights) in addition to or
in lieu of common stock of the successor or acquiring corporation ("Other
Property"), are to be received by or distributed to the holders of Common Stock
of the Company, then Holder shall have the right thereafter to receive, upon
exercise of the Warrant, the number of shares of common stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation,
and Other Property receivable upon or as a result of such reorganization,
reclassification, merger, consolidation or disposition of assets by a holder of
the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such event. In case of any such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor
or acquiring corporation (if other than the Company) shall expressly assume the
due and punctual observance and performance of each and every covenant and
condition of this Warrant to be performed and observed by the Company and all
the obligations and liabilities hereunder, subject to such modifications as may
be deemed appropriate, subject to the
<PAGE>

Holder's consent, in order to provide for adjustments of shares of Common Stock
for which this Warrant is exercisable which shall be as nearly equivalent as
practicable to the adjustments provided for in this Section 4. For purposes of
this Section 4.4, "common stock of the successor or acquiring corporation"
shall include stock of such corporation of any class which is not preferred as
to dividends or assets over any other class of stock of such corporation and
which is not subject to redemption and shall also include any evidences of
indebtedness, shares of stock or other securities which are convertible into or
exchangeable for any such stock, either immediately or upon the arrival of a
specified date or the happening of a specified event and any warrants or other
rights to subscribe for or purchase any such stock. The foregoing provisions of
this Section 4.4 shall similarly apply to successive reorganizations,
reclassifications, mergers, consolidations or disposition of assets.

                  4.5. OTHER ACTION AFFECTING COMMON STOCK. In case at any time
or from time to time the Company shall take any action in respect of its Common
Stock, other than any action taken in the ordinary course of the Company's
business or any action described in this Section 4, which would have a material
adverse effect upon the rights of the Holder, the number of shares of Common
Stock and/or the purchase price thereof shall be adjusted in such manner as may
be equitable in the circumstances, as determined in good faith by an investment
bank selected by Holder.

                  4.6. CERTAIN LIMITATIONS. Notwithstanding anything herein to
the contrary, the Company agrees not to enter into any transaction which, by
reason of any adjustment hereunder, would cause the Current Warrant Price to be
less than the par value per share of Common Stock.

                  4.7. NO VOTING RIGHTS.  This Warrant shall not entitle its
Holder to any voting rights or other rights as a shareholder of the Company.

5.  NOTICES TO HOLDER

                  5.1. NOTICE OF ADJUSTMENTS. Whenever the number of shares of
Common Stock for which this Warrant is exercisable, or whenever the price at
which a share of such Common Stock may be purchased upon exercise of the
Warrants, shall be adjusted pursuant to Section 4, the Company shall forthwith
prepare a certificate to be executed by an executive officer of the Company
setting forth, in reasonable detail, the event requiring the adjustment and the
method by which such adjustment was calculated, specifying the number of shares
of Common Stock for which this Warrant is exercisable and (if such adjustment
was made pursuant to Section 4.4 or 4.5) describing the number and kind of any
other shares of stock or Other Property for which this Warrant is exercisable,
and any change in the purchase price or prices thereof, after giving effect to
such adjustment or change. The Company shall promptly cause a signed copy of
such certificate to be delivered to the Holder in accordance with Section 14.2.
The Company shall keep at its office or agency designated pursuant to Section 12
copies of all such certificates and cause the same to be available for
inspection at said office during normal business hours by the Holder, its
representatives, or any prospective purchaser of a Warrant designated by the
Holder.

                  5.2. NOTICE OF CORPORATE ACTION.  If at any time

                       (a)  the Company shall take a record of the holders of
its Common Stock

<PAGE>

for the purpose of entitling them to receive a dividend or other distribution,
or any right to subscribe for or purchase any evidences of its indebtedness,
any shares of stock of any class or any other securities or property, or to
receive any other right, or

                       (b)  there shall be any capital reorganization of the
Company, any reclassification or recapitalization of the capital stock of the
Company or any consolidation or merger of the Company with, or any sale,
transfer or other disposition of all or substantially all the property,
assets or business of the Company to, another corporation, or

                       (c)  there shall be a voluntary or involuntary
dissolution, liquidation or winding up of the Company;

then, in any one or more of such cases, the Company shall give to Holder (i) at
least thirty (30) Business Days' prior written notice of the date on which a
record date shall be selected for such dividend, distribution or right or for
determining rights to vote in respect of any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition,
dissolution, liquidation or winding up, and (ii) in the case of any such
reorganization, reclassification, merger, consolidation, sale, transfer,
disposition, dissolution, liquidation or winding up, at least thirty (30)
Business Days' prior written notice of the date when the same shall take place.
Such notice in accordance with the foregoing clause also shall specify (i) the
date on which any such record is to be taken for the purpose of such dividend,
distribution or right, the date on which the holders of Common Stock shall be
entitled to any such dividend, distribution or right, and the amount and
character thereof, and (ii) the date on which any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition,
dissolution, liquidation or winding up is to take place and the time, if any
such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their shares of Common Stock for securities or other
property deliverable upon such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, dissolution, liquidation or winding
up. Each such written notice shall be sufficiently given if addressed to Holder
at the last address of Holder appearing on the books of the Company and
delivered in accordance with Section 14.2.

6.  NO IMPAIRMENT

                  The Company shall not by any action, including, without
limitation, amending its certificate of incorporation or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the
taking of all such actions as may be necessary or appropriate to protect the
rights of Holder against impairment. Without limiting the generality of the
foregoing, the Company will (a) not increase the par value of any shares of
Common Stock receivable upon the exercise of this Warrant above the amount
payable therefor upon such exercise immediately prior to such increase in par
value, (b) take all such action as may be necessary or appropriate in order
that the Company may validly and legally issue fully paid and nonassessable
shares of Common Stock upon the exercise of this Warrant, and (c) use its
best efforts to obtain all such authorizations, exemptions or consents from
any public regulatory body having jurisdiction thereof as may be necessary to
enable the Company to perform its obligations under this Warrant.

<PAGE>

                  Upon the request of Holder, the Company will at any time
during the period this Warrant is outstanding acknowledge in writing, in form
reasonably satisfactory to Holder, the continuing validity of this Warrant and
the obligations of the Company hereunder.

7.  RESERVATION AND AUTHORIZATION OF COMMON STOCK

                  From and after the Initial Closing Date, the Company shall at
all times reserve and keep available for issue upon the exercise of Warrants
such number of its authorized but unissued shares of Common Stock as will be
sufficient to permit the exercise in full of all outstanding Warrants. All
shares of Common Stock which shall be so issuable, when issued upon exercise of
any Warrant and payment therefor in accordance with the terms of such Warrant,
shall be duly and validly issued and fully paid and nonassessable, and not
subject to preemptive rights.

                  Before taking any action which would cause an adjustment
reducing the Current Warrant Price below the then par value, if any, of the
shares of Common Stock issuable upon exercise of the Warrants, the Company shall
take any corporate action which may be necessary in order that the Company may
validly and legally issue fully paid and non-assessable shares of such Common
Stock at such adjusted Current Warrant Price.

                  Before taking any action which would result in an adjustment
in the number of shares of Common Stock for which this Warrant is exercisable or
in the Current Warrant Price, the Company shall obtain all such authorizations
or exemptions thereof, or consents thereto, as may be necessary from any public
regulatory body or bodies having jurisdiction thereof.

8.  TAKING OF RECORD; STOCK AND WARRANT TRANSFER BOOKS

                  In the case of all dividends or other distributions by the
Company to the holders of its Common Stock with respect to which any provision
of Section 4 refers to the taking of a record of such holders, the Company will
in each such case take such a record as of the close of business on a Business
Day. The Company will not at any time close its stock transfer books or Warrant
transfer books so as to result in preventing or delaying the exercise or
transfer of any Warrant.

9.  RESTRICTIONS ON TRANSFERABILITY

                  The Warrants and the Warrant Stock shall not be transferred,
hypothecated or assigned before satisfaction of the conditions specified in this
Section 9, which conditions are intended to ensure compliance with the
provisions of the Securities Act with respect to the Transfer of any Warrant or
any Warrant Stock. Holder, by acceptance of this Warrant, agrees to be bound by
the provisions of this Section 9.

                  9.1. RESTRICTIVE LEGEND. The Holder by accepting this Warrant
and any Warrant Stock agrees that this Warrant and the Warrant Stock issuable
upon exercise hereof may not be assigned or otherwise transferred unless and
until (i) the Company has received an opinion of counsel for the Holder that
such securities may be sold pursuant to an exemption from registration under the
Securities Act or (ii) a registration statement relating to such securities has
been filed by the Company and declared effective by the Commission.

<PAGE>

                           (a) Each certificate for Warrant Stock issuable
hereunder shall bear a legend substantially worded as follows unless such
securities have been sold pursuant to an effective registration statement under
the Securities Act:

                               "The securities represented by this
              certificate have not been registered under the Securities Act
              of 1933, as amended (the "Act") or any state securities laws.
              The securities may not be offered for sale, sold, assigned,
              offered, transferred or otherwise distributed for value except
              (i) pursuant to an effective registration statement under the
              Act or any state securities laws or (ii) pursuant to an
              exemption from registration or prospectus delivery requirements
              under the Act or any state securities laws in respect of which
              the Company has received an opinion of counsel satisfactory to
              the Company to such effect. Copies of the agreement covering
              both the purchase of the securities and restricting their
              transfer may be obtained at no cost by written request made by
              the holder of record of this certificate to the Secretary of
              the Company at the principal executive offices of the Company."

                           (b) Except as otherwise provided in this Section 9,
the Warrant shall be stamped or otherwise imprinted with a legend in
substantially the following form:

                               "This Warrant and the securities represented
              hereby have not been registered under the Securities Act of
              1933, as amended, or any state securities laws and may not be
              transferred in violation of such Act, the rules and regulations
              thereunder or any state securities laws or the provisions of
              this Warrant."

                  9.2. NOTICE OF PROPOSED TRANSFERS. Prior to any Transfer or
attempted Transfer of any Warrants or any shares of Restricted Common Stock, the
Holder shall give five (5) days' prior written notice (a "Transfer Notice") to
the Company of Holder's intention to effect such Transfer, describing the manner
and circumstances of the proposed Transfer, and obtain from counsel to Holder an
opinion that the proposed Transfer of such Warrants or such Restricted Common
Stock may be effected without registration under the Securities Act or state
securities laws. After the Company's receipt of the Transfer Notice and opinion,
such Holder shall thereupon be entitled to Transfer such Warrants or such
Restricted Common Stock, in accordance with the terms of the Transfer Notice.
Each certificate, if any, evidencing such shares of Restricted Common Stock
issued upon such Transfer and the Warrant issued upon such Transfer shall bear
the restrictive legends set forth in Section 9.1, unless in the opinion of such
counsel such legend is not required in order to ensure compliance with the
Securities Act.

                  9.3. REQUIRED REGISTRATION. Pursuant to the terms and
conditions set forth in the

<PAGE>

Registration Rights Agreement, the Company shall prepare and file with the
Commission not later than the thirtieth (30th) day after the Initial Closing
Date, a Registration Statement relating to the offer and sale of the Common
Stock issuable upon exercise of the Warrants and shall use its best efforts to
cause the Commission to declare such Registration Statement effective in
accordance with the terms set forth in Section 2(a) of the Registration Rights
Agreement.

                  9.4. TERMINATION OF RESTRICTIONS. Notwithstanding the
foregoing provisions of Section 9, the restrictions imposed by this Section upon
the transferability of the Warrants, the Warrant Stock and the Restricted Common
Stock (or Common Stock issuable upon the exercise of the Warrants) and the
legend requirements of Section 9.1 shall terminate as to any particular Warrant
or share of Warrant Stock or Restricted Common Stock (or Common Stock issuable
upon the exercise of the Warrants) (i) when and so long as such security shall
have been effectively registered under the Securities Act and applicable state
securities laws and disposed of pursuant thereto or (ii) when the Company shall
have received an opinion of counsel that such shares may be transferred without
registration thereof under the Securities Act and applicable state securities
laws. Whenever the restrictions imposed by Section 9 shall terminate as to this
Warrant, as hereinabove provided, the Holder hereof shall be entitled to receive
from the Company upon written request of the Holder, at the expense of the
Company, a new Warrant bearing the following legend in place of the restrictive
legend set forth hereon:

                       "THE RESTRICTIONS ON TRANSFERABILITY OF THE WITHIN
              WARRANT CONTAINED IN SECTION 9 HEREOF TERMINATED ON ________,
              20__, AND ARE OF NO FURTHER FORCE AND EFFECT."

All Warrants issued upon registration of transfer, division or combination of,
or in substitution for, any Warrant or Warrants entitled to bear such legend
shall have a similar legend endorsed thereon. Whenever the restrictions imposed
by this Section shall terminate as to any share of Restricted Common Stock, as
hereinabove provided, the holder thereof shall be entitled to receive from the
Company, at the Company's expense, a new certificate representing such Common
Stock not bearing the restrictive legends set forth in Section 9.1.

                  9.5. LISTING ON SECURITIES EXCHANGE. If the Company shall list
any shares of Common Stock on any securities exchange, it will, at its expense,
list thereon, maintain and, when necessary, increase such listing of, all shares
of Common Stock issued or, to the extent permissible under the applicable
securities exchange rules, issuable upon the exercise of this Warrant so long as
any shares of Common Stock shall be so listed during the Exercise Period.

10.  SUPPLYING INFORMATION

                  The Company shall cooperate with Holder in supplying such
information as may be reasonably necessary for Holder to complete and file any
information reporting forms presently or hereafter required by the Commission as
a condition to the availability of an exemption from the Securities Act for the
sale of any Warrant or Restricted Common Stock.

<PAGE>

11.  LOSS OR MUTILATION

                  Upon receipt by the Company from Holder of evidence reasonably
satisfactory to it of the ownership of and the loss, theft, destruction or
mutilation of this Warrant and indemnity reasonably satisfactory to it (it being
understood that the written agreement of the Holder shall be sufficient
indemnity), and in case of mutilation upon surrender and cancellation hereof,
the Company will execute and deliver in lieu hereof a new Warrant of like tenor
to Holder; PROVIDED, in the case of mutilation, no indemnity shall be required
if this Warrant in identifiable form is surrendered to the Company for
cancellation.

12.  OFFICE OF THE COMPANY

                  As long as any of the Warrants remain outstanding, the Company
shall maintain an office or agency (which may be the principal executive offices
of the Company) where the Warrants may be presented for exercise, registration
of transfer, division or combination as provided in this Warrant, such office to
be initially located at 15400 Knoll Trail, Suite #200, Dallas, Texas 75248, fax
(972) 960-9395, provided, however, that the Company shall provide prior written
notice to Holder of a change in address no less than thirty (30) days prior to
such change.

13.  LIMITATION OF LIABILITY

                  No provision hereof, in the absence of affirmative action by
Holder to purchase shares of Common Stock, and no enumeration herein of the
rights or privileges of Holder hereof, shall give rise to any liability of
Holder for the purchase price of any Common Stock or as a stockholder of the
Company, whether such liability is asserted by the Company or by creditors of
the Company.

14.  MISCELLANEOUS

                  14.1. NONWAIVER AND EXPENSES. No course of dealing or any
delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice Holder's rights, powers
or remedies, notwithstanding all rights hereunder terminate on the Expiration
Date. If the Company fails to make, when due, any payments provided for
hereunder, or fails to comply with any other provision of this Warrant, the
Company shall pay to Holder such amounts as shall be sufficient to cover any
direct and indirect losses, damages, costs and expenses including, but not
limited to, reasonable attorneys' fees, including those of appellate
proceedings, incurred by Holder in collecting any amounts due pursuant hereto or
in otherwise enforcing any of its rights, powers or remedies hereunder.

                  14.2. NOTICE GENERALLY. Except as may be otherwise provided
herein, any notice or other communication or delivery required or permitted
hereunder shall be in writing and shall be delivered personally or sent by
certified mail, postage prepaid, or by a nationally recognized overnight courier
service, and shall be deemed given when so delivered personally or by overnight
courier service, or, if mailed, three (3) days after the date of deposit in the
United States mails, as follows:

<PAGE>

                                (1) if to the Company, to:

                                    Airtech International Group, Inc.
                                    15400 Knoll Trail, Suite #200
                                    Dallas, Texas  75248
                                    Attention: C.J. Comu, CEO
                                    Tel: (972) 960-9400 x111
                                    Fax: (972)960-9395

                                (2) if to the Purchaser to:

                                    PK Investors LLC
                                    WEC Asset Management LLC
                                    110 Colabaugh Pond Road
                                    Croton-on-Hudson, New York  10520
                                    Attention: Daniel J. Saks
                                    Tel: (914) 271-2211
                                    Fax: (914) 271-0889

with a copy to:
                                    Pryor Cashman Sherman & Flynn LLP
                                    410 Park Avenue
                                    New York, New York  10022
                                    Attention: Mark Saks, Esq.
                                    Tel: (212) 326-0140
                                    Fax: (212) 326-0806

     The Company or the Holder may change the foregoing address by notice given
pursuant to this Section 14.2.

                  14.3. INDEMNIFICATION. The Company agrees to indemnify and
hold harmless Holder from and against any liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, claims, costs, attorneys' fees,
expenses and disbursements of any kind which may be imposed upon, incurred by or
asserted against Holder in any manner relating to or arising out of any failure
by the Company to perform or observe in any respect any of its covenants,
agreements, undertakings or obligations set forth in this Warrant.

                  14.4. REMEDIES. Holder in addition to being entitled to
exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Warrant. The Company
agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Warrant and
hereby agrees to waive the defense in any action for specific performance that a
remedy at law would be adequate.

                  14.5. SUCCESSORS AND ASSIGNS. Subject to the provisions of
Sections 3.1 and 9, this Warrant and the rights evidenced hereby shall inure to
the benefit of and be binding upon the successors of the Company and the
successors and assigns of Holder. The provisions of this Warrant

<PAGE>

are intended to be for the benefit of all Holders from time to time of this
Warrant and, with respect to Section 9 hereof, holders of Warrant Stock, and
shall be enforceable by any such Holder or holder of Warrant Stock.

                  14.6. AMENDMENT. This Warrant and all other Warrants may be
modified or amended or the provisions hereof waived only with the prior written
consent of the Company and the Holder.

                  14.7. SEVERABILITY. Wherever possible, each provision of this
Warrant shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Warrant shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Warrant.

                  14.8. HEADINGS. The headings used in this Warrant are for the
convenience of reference only and shall not, for any purpose, be deemed a part
of this Warrant.

                  14.9. GOVERNING LAW. This Warrant shall be governed by the
laws of the State of New York, without regard to the provisions thereof relating
to conflict of laws. The Company consents to the jurisdiction of the federal
courts whose districts encompass any part of the City of New York or the state
courts of the State of New York sitting in the City of New York in connection
with any dispute arising under this Warrant or any of the transactions
contemplated hereby, and hereby waives, to the maximum extent permitted by law,
any objection, including any objections based on FORUM NON CONVENIENS, to the
bringing of any such proceeding in such jurisdictions.

         [SIGNATURE PAGE FOLLOWS, REMAINDER OF PAGE INTENTIONALLY BLANK]
IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed and
its corporate seal to be impressed hereon and attested by its Secretary or an
Assistant Secretary.

Dated:  February 22, 2000

                                       AIRTECH INTERNATIONAL GROUP, INC.

                                       By:______________________________________
                                          Name:
                                          Title:

Attest:

<PAGE>

By:___________________________
   Name:
   Title:

EXHIBIT A

SUBSCRIPTION FORM

                [To be executed only upon exercise of Warrant]

The undersigned registered owner of this Warrant irrevocably exercises this
Warrant for the purchase of ______ Shares of Common Stock of Airtech
International Group, Inc., and herewith makes payment therefor in cash or by
check or bank draft made payable to the Company, all at the price and on the
terms and conditions specified in this Warrant and requests that certificates
for the shares of Common Stock hereby purchased (and any securities or other
property issuable upon such exercise) be issued in the name of and delivered to
_____________ whose address is _________________ and whose Federal
Identification Number is ________________and, if such shares of Common Stock
shall not include all of the shares of Common Stock issuable as provided in this
Warrant, that a new Warrant of like tenor and date for the balance of the shares
of Common Stock issuable hereunder be delivered to the undersigned.

                                        -------------------------------
                                        (Name of Registered Owner)

                                        -------------------------------
                                        (Signature of Registered Owner)

                                        -------------------------------
                                        (Street Address)

                                        -------------------------------
                                        (City)  (State)    (Zip Code)

         NOTICE: The signature on this subscription must correspond with the
name as written upon the face of the within Warrant in every particular, without
alteration or enlargement or any change whatsoever.

<PAGE>

EXHIBIT B

ASSIGNMENT FORM

                  FOR VALUE RECEIVED the undersigned registered owner of this
Warrant hereby sells, assigns and transfers unto the Assignee named below all of
the rights of the undersigned under this Warrant, with respect to the number of
shares of Common Stock set forth below:

<TABLE>
<CAPTION>

      Name and                          Federal                 Number of Shares
Address of Assignee               Identification Number         of Common Stock
-------------------               ---------------------         ----------------
<S>                               <C>                           <C>

</TABLE>

and does hereby irrevocably constitute and appoint _______ ________________
attorney-in-fact to register such transfer on the books of Airtech International
Group, Inc., maintained for the purpose, with full power of substitution in the
premises.

     Dated:___________________              Print Name:___________________

                                            Signature:____________________

                                            Witness:______________________

         NOTICE: The signature on this assignment must correspond with the name
as written upon the face of the within Warrant in every particular, without
alteration or enlargement or any change whatsoever.

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