Document:

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EXHIBIT 10.21

                              EMPLOYMENT AGREEMENT

This Employment Agreement (this "Agreement") is made as of August 4, 2004 (the
"Effective Date"), by and between MICHAEL DAVID LISS, an individual residing in
Kimberton, Pennsylvania ("Executive") and WARP TECHNOLOGY HOLDINGS, INC. a
Nevada corporation with a place of business at 151 Railroad Avenue, Greenwich,
Connecticut 06830 (the "Company").

            WHEREAS, in 2003 Executive began to serve the Company in the
position of Chief Operating Officer.

            WHEREAS, Executive has certain experience and expertise that qualify
him to provide the skills required by the Company;

            WHEREAS, the Company desires to continue to retain the services of
Executive, and Executive desires to continue to be employed by the Company;

            WHEREAS, Executive and the Company deem it in their respective
interests to enter into an agreement providing for the continued employment of
Executive as the Company's Chief Operating Officer, subject to the terms and
conditions hereinafter set forth; and

            NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and
Executive hereby agree as follows:

      1. Employment. Subject to the terms and conditions set forth in this
Agreement, the Company offers and Executive hereby accepts continued employment,
effective as of the Effective Date.

      2. Term. Subject to earlier termination as provided in Section 5 hereof,
this Agreement shall commence on the Effective Date and end on December 31, 2005
(the "Initial Term"). The Initial Term and any Renewal Term (as defined herein)
shall automatically be renewed and extended on the same terms and conditions
contained herein for consecutive one-year periods (the "Renewal Term"), unless
not later than sixty (60) days prior to the end of the Initial Term or any
Renewal Term, as the case may be, either party shall give written notice to the
other party of its election to terminate this Agreement. The Initial Term and
the Renewal Terms are hereinafter referred to as the "Term."

      3. Capacity and Performance.

            3.1 Position. During the Term hereof, Executive shall serve the
Company as its Chief Operating Officer and/or in any other officer position with
the Company that may be assigned to him by Company's Board of Directors (the
"Board"). Executive shall also serve as the Chief Operating Officer and/or in
any other officer position that may be assigned to him by the Board with the
Company's subsidiaries, Warp Solutions, Inc., SpiderSoftware, Inc., and Warp
Solutions, Ltd. and/or any other of the Company's subsidiaries or affiliates
(collectively, all the Company's subsidiaries and affiliates are referred to as
the "Related Companies").

            3.2 Reporting and Location. Executive shall report to the Chief
Executive Officer ("CEO") and the Board at all times during the Term and shall
perform his duties and responsibilities hereunder at the Company's headquarters
office, and shall travel from time to time as requested by the CEO or the Board
and/or as required pursuant to his duties hereunder.

            3.3 Responsibilities. Executive shall comply with and perform,
faithfully, diligently and to the best of his ability, such directions and
duties in relation to the Company's business and affairs as the Board may from
time to time vest in or request of him. Such duties and responsibilities shall

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include, but not limited to, responsibility for the Company's operations and
sales of the products and services offered by the Company's subsidiaries, Warp
Solutions, Inc., SpiderSoftware, Inc., and Warp Solutions, Ltd.

            3.4 Commitments. Executive shall devote substantially all of his
business time, attention and energies, except while on vacation or other
Company-authorized leave taken by Executive, to the Company's business and shall
not engage in any other business activity (without the Board's written
approval), whether or not for profit or other pecuniary advantage, that may
conflict with the performance of his duties hereunder. Executive's holding a
position with, or service on the board of directors of, any other company shall
be conditioned on the prior approval of the Board. Executive's continuing
service on any board of directors other than that of the Company shall be
conditioned on such service not substantially interfering with Executive's
responsibilities hereunder or violating his obligations pursuant to the
Non-Competition Agreement (defined in Section 9).

      4. Compensation and Benefits. As compensation for Executive's satisfactory
performance of his duties and obligations hereunder to the Company and subject
to the provisions of Sections 5 hereof, during the term hereof Executive shall
receive the following:

            4.1 Base Salary.

                  (a) Executive will receive his base salary paid at a rate of
$12,500 per month, subject to any upward modification resulting from his
performance review as approved by the Board or any Compensation Committee of the
Board (the Board or such Compensation Committee, as applicable, is referred to
herein as the "Compensation Committee"), which review shall be performed at
least annually during the Term (the "Base Salary"). The Base Salary shall be
payable in accordance with the customary payroll practices of the Company as may
be established or modified from time to time.

                  (b) Notwithstanding any provision herein to the contrary, in
the event that the CEO or the Board determines it to be in the best interest of
the Company, Executive's Base Salary shall be reduced by an amount not to exceed
twenty percent (20%) of the Base Salary, for the period commencing upon such
determination and continuing for the remainder of the then current fiscal year.

            4.2 Annual Performance Bonus. During the Term hereof, Executive will
be eligible to earn an annual performance bonus in accordance with the
following:

                  (a) Subject to Section 4.2(b), for each of the fiscal years
during the Term ending June 30, 2005 and annually thereafter, the Compensation
Committee, in its sole discretion after receiving recommendations from
management of the Company, will determine Executive's specified financial and
business objectives (the "Objectives"), and will determine, in its sole
discretion, target bonus amounts based on (x) achievement of 100% of the
Objectives, and (y) achievement exceeding 100% of the Objectives. Subject to
Section 4.2(b), if in the determination of the Compensation Committee, Executive
achieves less than 100% of the Objectives for the applicable fiscal year
Executive will receive no bonus unless a bonus is otherwise approved by the
Compensation Committee in its sole discretion.

                  (b) The provisions of Section 4.2(a) are subject to the
Company's bonus policy as may be modified from time to time, and bonuses will be
paid, if at all, at the same time and in the same manner as bonuses for the
comparable period are paid to the Company's other senior executive officers. All
bonus payment shall be payable in accordance with the Company's customary bonus
practices as established or modified from time to time. In addition, each bonus
that may be earned, if at all, pursuant to Sections 4.2(a) shall be subject in
all cases, except as may be otherwise provided in Section 5, to Executive's
continued employment with the Company through June 30th of the respective fiscal
year for which Executive is eligible to earn a bonus.

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                  (c) In the event that the Executive's Base Salary is reduced
pursuant to Section 4.1(b), the amount of such reduction shall be paid to the
Executive for the applicable fiscal year provided that the Compensation
Committee determines, in its sole discretion after receiving recommendations
from management of the Company, that Executive has achieved or exceeded 100% of
the Objectives.

            4.3 Benefits. During the Term hereof and subject to any contribution
therefore generally required by the Company of executives of the Company in
similar positions as Executive, Executive shall be eligible to participate in
all employee benefits plans and policies as from time to time adopted by the
Company in effect for executives of the Company in similar positions.
Eligibility for such participation shall be subject to (i) the terms of the
applicable plan documents, (ii) generally applicable Company policies, and (iii)
the discretion of the Company and/or the Compensation Committee or any other
committee of the Board provided for in or contemplated by such plan. The Company
may alter, modify, add to, or delete its employee benefits plans and/or policies
at any time as the Company and/or the Compensation Committee (and/or any other
Board committee), in its/their sole judgment, determine to be appropriate.

            4.4 Business Expenses. The Company shall pay or reimburse Executive
for all reasonable business expenses incurred or paid by Executive in the
performance of his duties and responsibilities hereunder, subject to (i) any
expense policy set by the Company as may be modified from time to time, and (ii)
such reasonable substantiation and documentation requirements as may be
specified by the Company from time to time.

            4.5 Equity.

                  (a) The Executive has 7,934 shares (the "Bonus Shares") of the
Company's Common Stock, $.00001 par value, (the "Common Stock"), which were
issued in lieu of a cash bonus which otherwise may have been payable to the
Executive. In consideration of this Agreement and the receipt of said shares,
the April Grant (as defined below), and the 2004 Options (as defined below)
Executive herby forever waives and releases any and all claims against the
Company arising from or in any way related to any bonus or other compensation,
cash, equity or otherwise, which has not been received to date (other than the
compensation provided for hereunder and pursuant to the April Grant and the 2004
Options).

                  (b) The Executive has options to acquire 1,000,000 shares of
Common Stock pursuant to a Stock Option Agreement dated as of April 23, 2004,
pursuant to which Executive may exercise said options for [$.13] per share
subject to the vesting and other terms of said agreement (the "April Grant").

                  (c) Executive represents and warrants that, except for the
Bonus Shares, the April Grant and the options (the "2004 Options") granted to
Executive pursuant to that certain Stock Option Agreement dated as of even date
herewith between the Company and Executive ("2004 Option Agreement"), Company
has not granted, sold, issued, or agreed to grant, sell or issue, any options or
warrants to acquire Common Stock or any security convertible into or
exchangeable for Common Stock, any shares of Common Stock or any security
convertible into or exchangeable for Common Stock, or any other right in or to
Common Stock or other such securities, whatsoever, and Executive waives and
forever releases any claim against the Company to the contrary.

                  (d) As of even date herewith, the Company has granted
Executive the 2004 Options which are subject to the terms and conditions of the
2004 Option Agreement. From time to time the Compensation Committee, in its sole
discretion, may grant Executive other options to acquire Common Stock, or other
equity rights or compensation.

      5. Termination of Employment. Notwithstanding the provisions of Section 2
hereof, Executive's employment and this Agreement shall terminate prior to the
expiration of the Term under the following circumstances.

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            5.1 Death or Disability.

                  (a) In the event of Executive's death or Disability (as
defined below) during the Term hereof, Executive's employment and this agreement
shall immediately and automatically terminate and the Company shall pay to
Executive (or in the case of death, Executive's designated beneficiary or, if no
beneficiary has been designated by Executive, his estate), any Base Salary, any
bonus pursuant to Section 4.2 and vacation, each to the extent earned but unpaid
through the date of death or Disability. To the extent Executive qualifies for
either short term disability and/or long term disability insurance in accordance
with the terms and conditions of the Company's plans, the Company may offset any
such insurance payments against any Base Salary paid to Executive (including any
such payment made pursuant to this section 5.1).

                  (b) As used herein, the term "Disability" shall mean that the
Executive has become disabled by suffering physical or mental illness, injury,
or infirmity that prevents Executive from performing, with or without reasonable
accommodation, Executive's essential job functions for any one hundred fifty
(150) days in any one hundred eighty (180)-day period, the Board determines in
good faith that such illness or other disability is likely to continue for at
least the next following thirty (30) days, and the Board notifies Executive of
such determination.

            5.2 By the Company for Cause.

                  (a) Upon approval of a majority of the Board, the Board may
terminate Executive's employment and this Agreement for Cause (as defined below)
at any time during the Term hereof. The Board and/or Company shall thereafter
have no further obligation or liability to Executive relating to Executive's
employment or this agreement, other than Base Salary, any bonus pursuant to
Section 4.2 and vacation, each to the extent earned but unpaid through the date
of termination.

                  (b) Any one or more of the following events or conditions
shall constitute "Cause" for termination: (i) the substantial, continuing and
knowing failure of Executive to render services to the Company or any Related
Company in accordance with the terms or requirements of his employment; (ii)
gross negligence, willful misconduct, or breach of fiduciary duty to the Company
or any Related Company, or disloyalty or dishonesty (which disloyalty or
dishonesty results in direct or indirect material loss, damage or injury to the
Company or any Related Company); (iii) the commission of an act of embezzlement
or fraud; (iv) deliberate disregard of the rules or policies of the Company or
any Related Company that results in direct or indirect material loss, damage or
injury to the Company or any Related Company; (v) the unauthorized disclosure of
any trade secret or confidential information of the Company or any Related
Company; (vi) the commission of an act which constitutes unfair competition with
the Company or any Related Company or which induces any customer or supplier to
breach a contract with the Company or any Related Company; or (vii) material
breach of this Agreement or breach of the Agreement or the Confidential
Information Agreement (as defined in Section 9). Notwithstanding the foregoing,
Cause shall not occur pursuant to provision 5.2(b)(i) above or pursuant to
provision 5.2(b)(vii) above (but in the case of provision 5.2(b)(vii), only with
respect to material breaches of this Agreement and not the other referenced
agreements), unless Executive fails, within 30 days after receipt of written
notice from the Company specifying the event or condition giving rise to Cause,
to cure such event or condition, if capable of cure, provided, however, that if
such event or condition is not capable of cure without a material undertaking by
the Company, said notice shall not be required and the termination hereof shall
not be delayed by any such thirty (30) day period.

            5.3 By the Company other than for Cause. The Company may terminate
Executive's employment and this Agreement other than for Cause effective at any
time on or after June 30, 2005, upon (60) days prior written notice to
Executive. Any determination by the Company not to renew this Agreement prior

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to the end of the Initial Term or any Renewal Term, as the case may be, shall be
treated as a termination by the Company pursuant to this Section 5.3.

            5.4 By Executive for Good Reason. Executive may terminate his
employment and this Agreement at any time during the Term hereof if Executive
has Good Reason (as defined below) for termination. For purposes hereof,
Executive shall have "Good Reason" for termination if Executive has given
written notice to the Company within thirty (30) days following the date on
which he learns of the occurrence, without his prior written consent, of any of
the following events during the Term, which notice specifies the nature of such
event, and the Company fails to cure such event to Executive's reasonable
satisfaction within thirty (30) days following receipt of such notice from
Executive:

                  (a) the failure of the Company to continue Executive in the
position of Chief Operating Officer of the Company, except where such failure is
for Cause or due to Executive's Disability or death.

                  (b) A material diminution in the nature or scope of
Executive's responsibilities, duties or authority; provided, however, that the
assignment to others of the duties or responsibilities of Executive while
Executive is out of work due to a Disability, leave of absence or vacation,
shall not constitute such diminution;

                  (c) Any reduction in Executive's Base Salary other than a
reduction pursuant to Section 4.1(b);

                  (d) A breach by the Company of any of its material obligations
to Executive under this Agreement; or

                  (e) The relocation of the primary offices at which Company
requires Executive to perform his duties hereunder to a location more than 50
miles from Greenwich, Connecticut, unless such location is 50 miles or less from
Executive's residence after the relocation.

            5.5 By Executive for other than Good Reason. Executive may, upon at
least thirty (30) days written notice, terminate this Agreement and his
employment with the Company for any reason other than death, Disability or Good
Reason. During such 30-day period, Executive will be available on a full-time
basis for the benefit of the Company. The Company, at its own option, may
accelerate Executive's departure date. If Executive terminates his employment
under this Section 5.5, the Company shall have no further obligation to provide
compensation or benefits to Executive after his actual departure date, other
than for any Base Salary, any bonus pursuant to Section 4.2 and any vacation,
each to the extent earned but unpaid through his actual departure date. Any
determination by the Executive not to renew this Agreement prior to the end of
the Initial Term or any Renewal Term, as the case may be, shall be treated as a
termination by the Executive pursuant to this Section 5.5.

            5.6 Severance Payments.

                  (a) In the event that the Company terminates Executive's
employment and this Agreement other than for Cause pursuant to Section 5.3, or
the Executive terminates his employment with the Company and this Agreement for
Good Reason, Executive will be eligible, subject to Section 5.6(b) hereof, for
the following

                  (i)   any Base Salary, any bonus pursuant to Section 4.2 and
                        any vacation, each to the extent earned but unpaid
                        through actual termination date;

                  (ii)  A continuation of Executive's Base Salary for a period
                        equal to (x) six months plus (y) one month for each
                        calendar month after July 1, 2004; provided, however,
                        that the maximum period of salary continuation shall be
                        twelve (12) months. Salary continuation shall be payable
                        at Executive's Base Salary rate as

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                        of his termination date and in accordance with the
                        Company's normal payroll practices as modified from time
                        to time; and

                  (iii) if Executive elects to continue medical insurance
                        coverage after his termination date and in accordance
                        with the provisions of the Consolidated Omnibus Budget
                        Reconciliation Act of 1985 ("COBRA"), payment of the
                        portion of Executive's monthly premium payments
                        customarily paid by the Company for employees, until (x)
                        the conclusion of the one-year period after the
                        termination of his employment, (y) Executive no longer
                        is eligible for COBRA coverage, or (z) Executive accepts
                        other employment through which he is eligible for
                        medical insurance coverage that is comparable to such
                        COBRA coverage, whichever occurs first. Thereafter,
                        Executive will be responsible for any and all payments
                        for the elected period of continued health insurance
                        coverage under COBRA.

                  If the termination is by Executive for Good Reason pursuant to
                  Section 5.4(c) hereof, any reference to Base Salary above in
                  Section 5.6(a)(ii) shall refer to Base Salary in effect
                  immediately prior to the reduction by the Company giving rise
                  to the right to terminate pursuant to Section 5.4(c)

                  (b) The Company's obligation to provide any severance payments
and COBRA premium payments pursuant to Section 5.6(a)(ii) and/or 5.6(a)(iii)
hereof shall be subject to and conditioned upon Executive's execution of a
separation agreement (the "Separation Agreement") reasonably satisfactory to
Executive and the Company, which shall include a non-disparagement clause and a
comprehensive release of claims that, if required by applicable law, provides
for a 7-day revocation period (the "Revocation Period"). Notwithstanding
anything in this Section 5.6, if any payments under Section 5.6(a) would
otherwise be due on a date prior to the expiration of the Revocation Period,
such payment shall instead be paid on the first business day immediately
following the expiration of the Revocation Period (provided that no revocation
right has been exercised by Executive). Notwithstanding any provision herein to
the contrary, any payments under Section 5.6(a) shall be conditioned on
Executive's fulfilling his obligations under the Non-Competition Agreement and
the Confidentiality Agreement, and no such payments shall be due to Executive in
the event of any breach of either or both of said agreements or other terms
hereof which survive the termination hereof.

            5.7 Resignation of Officer/Director Positions. In the event
Executive's employment with Company terminates for any reason, he shall submit
his written resignation, effective as of his termination date, from all (i)
officer and director positions with the Company, (ii) officer and director (or
equivalent) positions with any of the Related Companies and (iii) officer and
director (or equivalent) positions with any entity with respect to which the
Company is an investor or lender, and all duties associated with such positions.

      6. Effect of Termination. The provisions of this Section 6 shall apply in
the event of termination of this Agreement and/or Executive's employment
pursuant to Sections 2 or 5.

            6.1 Payment in Full. Payment by the Company to Executive of any Base
Salary and other compensation amounts as provided and referenced herein shall
constitute the entire obligation of the Company to Executive, except that
nothing in this Section 6.1 is intended or shall be construed to affect the
rights and obligations of the Company, on the one hand, and Executive, on the
other, with respect to any loans, stocks, warrants, stock pledge arrangements,
option plans, option agreements or other agreements to the extent said rights or
obligations survive Executive's termination of employment under the provisions
of documents relating hereto.

            6.2 Termination of Benefits. Except for any right of continuation of
benefits coverage to the extent provided by COBRA or other applicable law or as
otherwise described herein, benefits shall terminate pursuant to the terms of

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the applicable benefit plans as of the termination date of Executive's
employment without regard to any severance, consulting or other payments to
Executive following such termination date.

            6.3 No Mitigation or Offset. In the event of any termination of
Executive's employment with the Company, Executive shall be under no obligation
to seek other employment or otherwise mitigate the obligations of the Company
under this Agreement, and there shall be no offset against amounts due the
Executive under this Agreement on account or any remuneration or other benefit
earned or received by the Executive after such termination.

      7. Survival of Certain Provisions. The obligations of Executive under the
Non-competition Agreement and the Confidentiality Agreement expressly survive
any termination of Executive's employment regardless of the manner of such
termination, or termination of this Agreement. Moreover, the rights and
obligations contained herein shall survive the termination of Executive's
employment for any reason if so provided herein or if necessary or desirable to
fully accomplish the purpose of such provision.

      8. Withholding Taxes. All payments made by the Company under this
Agreement shall be subject to and reduced by any federal, state and/or local
taxes or other amounts required to be withheld by the Company under any
applicable law, and the Company may withhold from any amounts payable to
Executive (including any amounts payable to Executive pursuant to this
Agreement) in order to comply with such withholding obligations.

      9. Other Agreements; Non-competition Agreement; Confidential Information
Agreement; Insurance and Indemnity.

            9.1 Executive confirms to the Company that entering into this
Agreement and his performance of the position and duties described herein do not
and will not breach any agreement entered into by Executive prior to employment
with the Company. Executive has provided, or prior to the Effective Date will
provide, the Company with a copy of any such agreements.

            9.2 Executive acknowledges that he will be required to sign the
Non-competition Agreement in the form executed by the Company's other senior
executive officers (the "Non-competition Agreement") and the Confidential
Information Agreement in the form executed by the Company's other senior
executive officers (the "Confidential Information Agreement") concurrently with
the Company's execution of this Agreement and as a condition of his employment
or continued employment with the Company. If Executive breaches his obligations
under this Agreement, the Non-competition Agreement, the Confidential
Information Agreement or the Separation Agreement signed under Section 5.6(b),
Executive agrees that the Company may (i) immediately cease payment of all
compensation and benefits described in this Agreement and (ii) recover any
severance, bonus and/or COBRA payments, as referenced in Section 5.6, paid by
the Company to Executive after the date on which Executive breached this
Agreement, the Non-competition Agreement, the Confidential Information Agreement
or the Settlement Agreement, as applicable. Executive also agrees that the
cessation and recovery of these payments shall be in addition to, and not as an
alternative to, any other remedies at law or in equity available to the Company,
including the right to seek specific performance or an injunction as set forth
in Section 10.8.

            9.3 The Company shall maintain a directors and officers insurance
policy with Executive covered under such policy to the same extent other senior
executives and board members are covered and Executive shall be entitled to
indemnification to the fullest extent permitted by applicable law subject to the
terms and provisions of the Company's by-laws and certificate of incorporation
(and any indemnity agreement between the Company and Executive) as they relate
to indemnification of directors and officers (in each case, covering actions
taken or omitted to be taken by Executive during the time period during which
the Executive is, or was, an executive officer or director of the Company).

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      10. Miscellaneous

            10.1 Assignment. Executive shall not assign this Agreement or any
interest herein. The Company may assign this Agreement. No such assignment shall
be deemed a "termination" of Executive's employment within the meaning of
Section 5. This Agreement shall inure to the benefit of and be binding upon the
Company's successors and assigns.

            10.2 Severability/ Reformation. In the event that any nonmaterial
provision of this Agreement is determined to be legally invalid, the affected
provision shall be stricken from the Agreement and the remaining terms of the
Agreement shall be enforced so as to give effect to the intention of the parties
to the maximum extent practicable, and this Agreement shall be construed and
reformed to the maximum extent permitted by law.

            10.3 Waiver; Amendment. Any waiver by the Company of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach of such provision or any other provision hereof. In addition,
any amendment to or modification of this Agreement or any waiver of any
provision hereof must be in writing and signed by the Company.

            10.4 Notices. All notices, request and other communications provided
for by this Agreement shall be in writing and shall be effective when delivered
in person or four business days after being deposited in the mail of the United
States, postage prepaid, registered or certified, and addressed (a) in the case
of Executive, to the address set forth underneath his signature to this
Agreement or (b) in the case of the Company, to the attention of the Board, with
a copy to the Secretary of the Company c/o WARP Technology Holdings, Inc., 151
Railroad Avenue, Greenwich, CT 06830; and/or to such other address as either
party may specify by notice to the other.

            10.5 Entire Agreement. This Agreement, the Non-competition
Agreement, Confidential Information Agreement, the stock options agreements
referenced in Section 4.5, and any indemnity agreement referenced in Section
9.3, constitute the entire agreement between the Company and Executive with
respect to the terms and conditions of Executive's employment with the Company
and supersede and cancel all prior communications, agreements and understanding,
written or oral, between Executive and the Company with respect to the terms and
conditions of Executive's employment with the Company.

            10.6 Counterparts. This Agreement may be executed in counterparts,
each of which shall be original and all of which together, shall constitute one
and the same instrument.

            10.7 Governing Law. This Agreement, the employment relationship
contemplated herein and any claim arising from such relationship, whether or not
arising under this Agreement, shall be governed by and construed in accordance
with the internal laws of the State of Connecticut without giving effect to any
choice or conflict of laws provisions or rule thereof, and this Agreement shall
be deemed to be performable in such State.

            10.8 Resolutions of Disputes. Any claim arising out of or relating
to any relationship between Executive and the Company or any termination
thereof, whether or not arising out of or relating to this Agreement, shall be
resolved by binding confidential arbitration, to be held in Fairfield, County,
Connecticut in accordance with the Commercial Arbitration Rules of the American
Arbitration Association then in effect; provided, however, that this Section
10.8 will not apply in any manner to the Company's enforcement of the
Non-competition Agreement or the Confidentiality Agreement. The arbitration
award shall be final and binding on the parties and enforceable by wither party
in a court of competent jurisdiction in the State of Connecticut. Exclusive
jurisdiction over entry of judgment upon arbitration award rendered shall be any
court appropriate subject matter jurisdiction in the State of Connecticut and
the parties by this Agreement expressly subject themselves to the personal
jurisdiction of said court for the entry of any such judgment, for the
resolution of any dispute, action, or suit arising in

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connection with the entry of such judgment or to enforce the award as stated in
the previous sentence. The costs of the arbitration shall be borne equally by
the Company and the Executive.

      IN WITNESS WHEREOF, this Agreement has been executed by the Company, by
its duly authorized representative, and by Executive, as of the date first above
written.

WARP TECHNOLOGY HOLDINGS, INC.

By: /s/ Gus Bottazzi
------------------------------
Name: Gus Bottazzi
Title: President

MICHAEL DAVID LISS

By: /s/ Michael David Liss
------------------------------
Michael David Liss<PAGE>

EXHIBIT 10.22

                         WARP TECHNOLOGY HOLDINGS, INC.

                        INCENTIVE STOCK OPTION AGREEMENT

      1. GRANT OF OPTION.

          Warp Technology Holdings, Inc., a Nevada corporation (the "Company"),
hereby grants to RON BIENVENU (the "Employee"), an option, pursuant to the
Company's 2002 Stock Plan (the "Plan"), to purchase an aggregate of 15,068,528
shares of Common Stock, par value $0.00001 per share ("Common Stock"), of the
Company at a price of $0.0675 per share, purchasable as set forth in and subject
to the terms and conditions of this option and the Plan. This option is intended
to qualify as an incentive stock option ("Incentive Stock Option") within the
meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the
"Code"). The date of grant of this option is hereinafter referred to as the
"date of grant," and the date ending twelve (12) months thereafter and each
subsequent successive twelve - (12) month period is hereinafter referred to as
the "first anniversary date," "second anniversary date," "third anniversary
date," etc.

      2. EXERCISE OF OPTION AND PROVISIONS FOR TERMINATION.

            (a) Except as otherwise provided herein and subject to the right of
cumulation provided herein, this option may be exercised, prior to the tenth
anniversary date, as to not more than the following number of shares covered by
this option during the respective periods set forth below:

      No shares from and after the date of grant and prior to the First
Milestone Date;

      6,027,411 shares from and after the First Milestone Date;

      2,410,965 shares from and after the Second Milestone Date;

      3,013,706 shares from and after the Third Milestone Date;

      3,616,447 shares from and after the Fourth Milestone Date; and

      The "First Milestone Date" is the date that the closing sale price of the
Company's Common Stock has been at least $0.18 per share (as adjusted for stock
splits, dividends and the like) for a period of ten consecutive trading days;
(ii) the "Second Milestone Date" is the date that the closing sale price of the
Company's Common Stock has been at least $0.25 per share (as adjusted for stock
splits, dividends and the like) for a period of ten consecutive trading days,
(iii) the "Third Milestone Date" is the date that the closing sale price of the
Company's Common Stock has been at least $0.40 per share (as adjusted for stock
splits, dividends and the like) for a period of ten consecutive trading days,
and (iv) the "Fourth Milestone Date" is the date that the closing sale price of
the Company's Common Stock has been at least $0.50 per share (as adjusted for
stock splits, dividends and the like) for a period of ten consecutive trading
days.

      Notwithstanding the foregoing, this option shall be exercisable with
respect to all shares, whether or not previously exercisable, on and after the
fifth anniversary date.

<PAGE>

      The right of exercise provided herein shall be cumulative so that if the
option is not exercised to the maximum extent permissible during any such period
it shall be exercisable, in whole or in part, with respect to all shares not so
purchased at any time during any subsequent period prior until the expiration or
termination of this option.

      This option may not be exercised at any time after the tenth anniversary
date.

            (b) Subject to the conditions hereof, this option shall be
exercisable by the Employee giving written notice of exercise to the Company,
specifying the number of shares to be purchased and the purchase price to be
paid therefor and accompanied by payment in accordance with Section 3 hereof.
Such exercise shall be effective upon receipt by the Secretary of the Company of
the written notice together with the required payment. The Employee shall be
entitled to purchase less than the number of shares covered hereby, provided
that no partial exercise of this option shall be for less than five (5) whole
shares.

            (c) Subject to (f) below, if the Employee ceases to be employed by
the Company or one of its subsidiaries for any reason, including retirement but
other than death, this option shall immediately terminate; provided, however,
that any portion of this option that was otherwise exercisable on the date of
termination of the Employee's employment may be exercised within the twelve (12)
month period following the date on which the Employee ceased to be so employed,
but in no event after the tenth anniversary date. Any such exercise may be made
only to the extent of the number of shares subject to this option that are
purchasable upon the date of such termination of employment. If the Employee
dies during such twelve (12) month period, this option shall be exercisable by
the Employee's personal representatives, heirs or legatees to the same extent
and during the same period that the Employee could have exercised this option
upon the date of his or her death.

            (d) If the Employee dies while an employee of the Company or any
subsidiary of the Company, this option shall be exercisable, by the Employee's
personal representatives, heirs or legatees, to the same extent that the
Employee could have exercised this option on the date of his or her death. This
option or any unexercised portion hereof shall terminate unless so exercised
prior to the earlier of the expiration of twelve (12) months from the date of
such death or the tenth anniversary date.

            (e) Notwithstanding any other provision hereof, this option may not
be exercised to the extent such an exercise would violate Section 422(d)(1) of
the Code, which provides that the aggregate fair market value (determined at the
time the option is granted) of the Common Stock with respect to which incentive
stock options are exercisable for the first time by the Employee during any
calendar year (under all of the plans of the Company, its parent, if any, or its
subsidiaries, if any) shall not exceed $100,000.

            (f) If the Employee is terminated by the Company for Cause as
determined under the Employment Agreement, all options shall lapse immediately
at the effective time of such termination.

            (g) For purposes hereof, the time of the termination of the
Employee's employment with the Company shall be determined under the Employment
Agreement, provided, however, that employment shall not terminate for purposes
hereof until the expiration of the period Employee is bound by any non-compete
agreement with the Company, and employment shall not terminate for purposes
hereof if, and for as long as, Employee serves the Company as a director,
consultant or advisor for any period after which his employment has terminated
under the Employment Agreement until the Company has given written notice that
such services are no longer to be provided. Employee's employment with the

<PAGE>

Company shall not be deemed interrupted or terminated by a bona fide leave of
absence (such as sabbatical leave or employment by the Government) duly
approved, military leave or sick leave. This option shall not be affected in the
event the Employee suffers a significant diminution in his duties or any
significant reduction in his overall compensation.

      3. PAYMENT OF PURCHASE PRICE.

            (a) Payment of the purchase price for shares purchased upon exercise
of this option shall be made by (i) delivery to the Company of cash or check
payable to the order of the Company in an amount equal to the purchase price of
such shares, (ii) if the Employee elects and the Company permits, by delivery of
shares of Common Stock of the Company having a fair market value equal in amount
to the purchase price of such shares, or (iii) by advising the Company, at the
time this option is exercised, to withhold from exercise under this option the
appropriate number of shares, the aggregate market value of which on the date of
exercise of this option is equal to the aggregate cash purchase price of the
shares being purchased under this option, and such withholdings shall constitute
full payment for the non-withheld option shares issued upon exercise. The Board
of Directors shall have the authority to determine whether any shares offered by
the Employee in payment of the purchase price are acceptable to the Company, and
the Board's discretion in this regard shall be absolute.

            (b) For the purposes hereof, the "fair market value" of any share of
the Company's Common Stock to be delivered to the Company in exercise of this
option shall be determined by the Board of Directors in good faith after taking
into consideration all factors that it deems appropriate, including, without
limitation, recent sale and offer prices of the Common Stock in private
transactions negotiated at arm's length. If, the Company's Common Stock is
publicly traded, "fair market value" shall be determined as of the last business
day for which the prices or quotes discussed in this sentence are available
prior to the date of repurchase (the "Determination Date") and shall mean (i)
the average (on the Determination Date) of the high and low prices of the Common
Stock on the principal national securities exchange on which the Common Stock is
traded, if such Common Stock is then traded on a national securities exchange;
(ii) the last reported sale price (on the Determination Date) of the Common
Stock on the NASDAQ National Market List, if the Common Stock is not then traded
on a national securities exchange; or (iii) the closing bid price (or average of
bid prices) last quoted (on the Determination Date) by an established quotation
service for over-the-counter securities, if the Common Stock is not reported on
the NASDAQ National Market List.

            (c) If the Employee elects to exercise options by delivery of shares
of Common Stock of the Company, the certificate or certificates representing the
shares of Common Stock of the Company to be delivered shall be duly executed in
blank by the Employee or shall be accompanied by a stock power duly executed in
blank suitable for purposes of transferring such shares to the Company.
Fractional shares of Common Stock of the Company will not be accepted in payment
of the purchase price of shares acquired upon exercise of this option.

      4. DELIVERY OF SHARES.

      The Company shall, upon payment of the purchase price for the number of
shares purchased and paid for, make prompt delivery of such shares to the
Employee, provided that if any law or regulation requires the Company to take
any action with respect to such shares before the issuance thereof, then the
date of delivery of such shares shall be extended for the period necessary to
complete such action. No shares shall be issued and delivered upon exercise of
any option unless and until, in the opinion of counsel for the Company, any
applicable registration requirements of the Securities Act of 1933, as amended

<PAGE>

(the "Act") any applicable listing requirements of any national securities
exchange on which stock of the same class is then listed, and any other
requirements of law or of any regulatory bodies having jurisdiction over such
issuance and delivery, shall have been fully complied with in respect to such
issuance and delivery.

      5. NON-TRANSFERABILITY OF OPTION.

      This option may not be transferred or assigned in any manner by the
holder, except by will or trust upon the Employee's death or by operation of law
under the laws of descent and distribution, or pursuant to a "qualified domestic
relation order" as defined in the rules of the Securities and Exchange
Commission. The same restriction on transfer or assignment shall apply to heirs,
devises, beneficiaries or other persons acquiring this option or an interest
herein under such an instrument or by operation of law. Further, this option
shall not be pledged, hypothecated or otherwise encumbered, by operation of law
or otherwise, nor shall it be subject to execution, attachment or similar
process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise
dispose of this option or of such rights contrary to the provisions hereof, or
upon the levy of any attachment or similar process upon this option or such
rights, this option and such rights shall become null and void.

      6. TRANSFER OF SHARES

      Shares of Common Stock issued upon exercise of this option which have not
been registered under the Act shall be transferable by a holder thereof only
upon compliance with the conditions in this Section. Before making any transfer
of such shares, the holder of shares shall give written notice to the Company of
the holder's intention to make the transfer, describing the manner and
circumstances of the transfer. If in the opinion of the Company's counsel, or of
other counsel acceptable to the Company, the proposed transfer may be effected
without registration under the Act, the Company shall so notify the holder and
the holder shall be entitled to transfer such shares as described in the
holder's notice to the Company. If such counsel opines that the transfer may not
be made without registration under the Act, then the Company shall so notify the
holder, in which event the holder shall not be entitled to transfer the shares
until (i) the Company notifies the holder that it is permissible to proceed with
the transfer, or (ii) registration of the shares under the Act has become
effective. The Company may issue "stop transfer" instructions to its transfer
agent with respect to any or all of the shares of Common Stock issuable upon
exercise of this option as it deems necessary to prevent any violation of the
Act.

      7. NO SPECIAL EMPLOYMENT RIGHTS.

      Nothing contained in the Plan or this Agreement shall be construed or
deemed by any person under any circumstances to bind the Company or any of its
subsidiaries to continue the employment of the Employee for the period within
which this option may be exercised.

      8. RIGHTS AS A STOCKHOLDER.

      The Employee shall have no rights as a stockholder with respect to any
shares that may be purchased by exercise of this option unless and until a
certificate or certificates representing such shares are duly issued and
delivered to the Employee. Except as otherwise expressly provided in the Plan,
no adjustment shall be made for dividends or other rights for which the record
date is prior to the date such stock certificate is issued.

      9. RECAPITALIZATION.

<PAGE>

      In the event that dividends are payable in shares of Common Stock or in
the event there are splits, sub-divisions or combinations of shares of Common
Stock subsequent to the date of grant, the number of shares subject to this
option shall be increased or decreased proportionately, as the case may be, and
the number of shares deliverable upon the exercise thereafter of this option
shall be increased or decreased proportionately, as the case may be, without
change in the aggregate purchase price.

      10. CHANGES IN THE COMPANY'S CAPITAL STRUCTURE. The existence of this
Option shall not limit or affect in any way the right or power of the Company or
its shareholders to make or authorize any or all adjustments, recapitalizations,
reorganizations or other changes in the Company's capital structure or its
business, or any merger or consolidation of the Company, or any issue of bonds,
debentures, preferred or prior preference stock ahead of or affecting the shares
for which this option is exercisable or the rights thereof, or the dissolution
or liquidation of the Company, or any sale or transfer of all or any part of its
assets or business, or any other corporate act or proceeding, whether of a
similar character or otherwise. However,

      (a) If, prior to the Company's delivery of all the shares subject to this
option, the Company shall effect a subdivision (split) or combination (reverse
split) of shares or other capital readjustment, the payment of a common stock
dividend, or other increase or reduction of a number of shares of common stock
outstanding, without receiving compensation therefor in money, services or
property, then (i) in the event of an increase in the number of such shares
outstanding, the purchase price shall be proportionately reduced and the number
of option shares then still purchasable shall be proportionately increased; and
(ii) in the event of a reduction in the number of such shares outstanding, the
purchase price payable per share shall be proportionately increased and the
number of option shares then still purchasable shall be proportionately reduced.

      (b) Except as hereinbefore expressly provided, the issue by the Company of
shares of stock of any class, or securities convertible into shares of stock of
any class, for cash or property, or for labor or service either upon direct
sales or upon the exercise of rights or warrants to subscribe therefor, or upon
conversion of shares or obligations of the Company convertible into such shares
or other securities, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the purchase price or the number of option shares
subject to this option.

      11. WITHHOLDING TAXES.

      Whenever shares are to be issued upon exercise of this option, the Company
shall have the right to require the Employee to remit to the Company an amount
sufficient to satisfy any federal, state and local withholding tax requirements
prior to the delivery of any certificate or certificates for such shares.

      12. QUALIFICATION UNDER SECTION 422.

      It is understood and intended that the option granted hereunder shall
qualify as an "incentive stock option" as defined in Section 422 of the Code.
Accordingly, the Employee understands that in order to obtain the benefits of an
incentive stock option under Section 421 of the Code, no sale or other
disposition may be made of any shares acquired upon exercise of the option
within the one (1) year period beginning on the day after the day of the
transfer of such shares to him or her, nor within the two (2) year period
beginning on the day after the grant of the option. If the Employee intends to
dispose or does dispose (whether by sale, exchange, gift, transfer or otherwise)
of any such shares within said periods, he or she will notify the Company within
thirty (30) days after such disposition.

<PAGE>

      13. INVESTMENT REPRESENTATION, ETC.

            (a) The Employee represents that any shares purchased upon exercise
of this option shall be acquired by the Employee for his or her own account for
investment and not with a view to, or for sale in connection with, any
distribution of such shares, nor with any present intention of distributing or
selling such shares. The Employee further represents that he or she has made
detailed inquiry concerning the Company, that the officers of the Company have
made available to the Employee any and all written information that the Employee
has requested, that the officers of the Company have answered to the Employee's
satisfaction all inquiries made by the Employee and that the Employee has such
knowledge and experience in financial and business matters that the Employee is
capable of evaluating the merits and risks of an investment in the Company and
able to bear the economic risk of that investment. By making payment upon
exercise of this option, the Employee shall be deemed to have reaffirmed, as of
the date of such payment, the representations made in this Section 14.

            (b) Employee agrees, for himself or herself and his or her heirs and
legal representatives that he or she will enter into any "lock-up" or similar
agreements requested by the Company in connection with any public offering of
shares of the Company's stock.

            (c) All stock certificates representing shares of Common Stock
issued to the Employee upon exercise of this option shall, unless and until
removed as provided below, have affixed thereto a legend substantially in the
following form:

                  "The shares of stock represented by this certificate (i) are
         subject to the restrictions on transfer contained in an Incentive Stock
         Option Agreement dated ______________, 20__, between the Company and
         the holder of this certificate (a copy of which is available without
         charge from the Company), and (ii) have not been registered under the
         Securities Act of 1933 and may not be transferred, sold or otherwise
         disposed of in the absence of an effective registration statement with
         respect to the shares evidenced by this certificate, filed and made
         effective under the Securities Act of 1933, or an opinion of counsel
         satisfactory to the Company to the effect that registration under such
         Act is not required."

The Company shall issue a new certificate which does not contain such legend if
(i) the shares represented by such certificate are sold pursuant to a
registration statement (including a current prospectus) which has become
effective under the Act, or (ii) the staff of the Securities and Exchange
Commission shall have issued a "no action" letter, reasonably satisfactory to
the Company's counsel, to the effect that such shares may be freely sold and
thereafter traded publicly without registration under the Act, or (iii) the
Company's counsel, or other counsel acceptable to the Company, shall have
rendered an opinion satisfactory to the Company to the effect that such shares
may be freely sold and thereafter publicly traded without registration under the
Act. The Company may, but shall in no event be obligated to register any
securities covered hereby pursuant to the Act. The Company shall not be
obligated to take any other affirmative action in order to cause the exercise of
this option or the issuance of any shares of Common Stock to comply with any law
or regulation of any governmental authority.

      14. MISCELLANEOUS.

<PAGE>

            (a) Except as provided herein, this Agreement may not be amended or
otherwise modified unless evidenced in writing and signed by the Company and the
Employee.

            (b) All notices under this Agreement shall be mailed or delivered by
hand to the parties at their respective addresses set forth beneath their names
below or at such other address as may be designated in writing by either of the
parties to one another.

            (c) This Agreement shall be governed by and construed in accordance
with the laws of the State of Connecticut, provided, however, that the Revised
Statutes of the State of Nevada shall govern the meaning and enforceability of
terms regarding the Common Stock and rights thereunder.

Date of Grant: AUGUST 4, 2004

WARP TECHNOLOGY HOLDINGS, INC.

By: /s/ Gus Bottazzi
------------------------------
Name: Gus Bottazzi
Title: President

                              EMPLOYEE'S ACCEPTANCE

      The undersigned hereby accepts the foregoing option and agrees to the
terms and conditions thereof.

      EMPLOYEE

      /s/ Ron Bienvenu
      ------------------------                   Date: August 4, 2004
      Ron Bienvenu

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