Document:

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                                                                    Exhibit 10.9

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of
the 3rd day of January, 2005 ("Commencement Date"), by and between EagleBank, a
Maryland corporation ("Eagle"), and James H. Langmead ("Langmead").

                                     RECITAL

     Eagle desires to retain Langmead as Executive Vice President and Chief
Financial Officer of Eagle and Langmead desires to accept such employment, all
upon the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the recital, the mutual covenants
and agreements herein contained, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this
Agreement, intending to be legally bound, agree as follows:

         1. Certain Definitions. As used in this Agreement, the following terms
have the meanings set forth below:

                  1.1 "Commencement Date" means the date first written above.

                  1.2 "Bank Regulatory Agency" means any governmental authority,
                  regulatory agency, ministry, department, statutory
                  corporation, central bank or other body of the United States
                  or of any other country or of any state or other political
                  subdivision of any of them having jurisdiction over Eagle or
                  any transaction contemplated, undertaken or proposed to be
                  undertaken by Eagle, including, but not necessarily be limited
                  to:

                  (a) the Federal Deposit Insurance Corporation or any other
                  federal or state depository insurance organization or fund;

                  (b) the Federal Reserve System, the Comptroller of the
                  Currency, the Maryland Division of Financial Institutions, or
                  any other federal or state bank regulatory or commissioner's
                  office;

                  (c) any Person established, organized, owned (in whole or in
                  part) or controlled by any of the foregoing; and

                  (d) any predecessor, successor or assignee of any of the
                  foregoing.

                  1.3 "Board" means the Board of Directors of Eagle.

                  1.4 "Bylaws" means the Bylaws of Eagle as in effect
                  from time to time.

                  1.5 "EBI" means Eagle Bancorp, Inc., a Maryland corporation.

                  1.6 "Person" means any individual, firm, association,
                  partnership, corporation, limited liability company, group,
                  governmental agency or other authority, or other organization
                  or entity.

         2.       Employment; Term.

                  2.1 Position. Eagle hereby employs Langmead to serve as
                  Executive Vice President and Chief Financial Officer of Eagle.

                  2.2 Term. The term of this Agreement and Langmead's employment
                  hereunder shall commence with the Commencement Date and
                  continue until December 31, 2006 (the "Term"), unless sooner
                  terminated in accordance with the provisions of this
                  Agreement.

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         3.       Duties of Langmead.

                  3.1 Nature and Substance. Langmead shall report directly to
                  and shall be under the direction of the President and Chief
                  Executive Officer of Eagle. The specific powers and duties of
                  Langmead shall be established, determined and modified by and
                  within the discretion of the Board.

                  3.2 Performance of Services. Langmead agrees to devote his
                  full business time and attention to the performance of his
                  duties and responsibilities under this Agreement, and shall
                  use his best efforts and discharge his duties to the best of
                  his ability for and on behalf of Eagle and toward its
                  successful operation. Langmead shall comply with all laws,
                  statutes, ordinances, rules and regulations relating to his
                  employment and duties. During the Term of his employment,
                  Langmead shall not at any time or place directly or indirectly
                  engage or agree to engage in any business or practice related
                  to the banking business with or for any other person to any
                  extent whatsoever, other than to the extent required by the
                  terms and conditions of this Agreement. Langmead agrees that
                  while employed by Eagle he will not without the prior written
                  consent of the Board, engage, or obtain a financial or
                  ownership interest, in any other business, employment,
                  consulting or similar arrangement, or other undertaking (an
                  "Outside Arrangement") if such Outside Arrangement would
                  interfere with the satisfactory performance of Langmead's
                  duties to Eagle, present a conflict of interest with Eagle
                  and/or EBI, breach Langmead's duty of loyalty or fiduciary
                  duties to Eagle and/or EBI, or otherwise conflict with the
                  provisions of this Agreement; provided, however, that Langmead
                  shall not be prevented from investing Langmead's assets in
                  such form or manner as would not require any services on the
                  part of Langmead in the operation or the affairs of the
                  entities in which such investments are made and provided such
                  investments do not present a conflict of interest with Eagle
                  and/or EBI. Langmead shall promptly notify the Board of any
                  Outside Arrangement and provide Eagle with any written
                  agreement in connection therewith.

         4.       Compensation Benefits. As full compensation for all services
                  rendered pursuant to this Agreement and the covenants
                  contained herein, Eagle shall pay to Langmead the following:

                  4.1 Salary. Beginning on the Commencement Date, Langmead shall
                  be paid a salary ("Salary") of One Hundred Seventy Thousand
                  Dollars ($178,000.00) on an annualized basis. Eagle shall pay
                  Langmead's Salary in equal installments in accordance with
                  Eagle's regular payroll periods as may be set by Eagle from
                  time to time. Langmead's salary shall be further increased
                  from time to time at the discretion of the Board. Langmead
                  shall also be entitled to certain incentive bonus payments as
                  determined by the Board in its sole discretion.

                  4.2 Withholding. Payments of Salary shall be subject to the
                  customary withholding of income and other employment taxes as
                  is required with respect to compensation paid by an employer
                  to an employee.

                  4.3 Vacation and Leave. Langmead shall be entitled to such
                  vacation and leave as may be provided for under the current
                  and future leave and vacation policies of Eagle for executive
                  officers.

                  4.4 Office Space. Eagle will provide customary office space
                  and office support to Langmead beginning on the Commencement
                  Date.

                  4.5 Non-Life Insurance. Eagle will provide Langmead with group
                  health, disability and other insurance as Eagle may determine
                  appropriate for all employees of Eagle.

                  4.6 Life Insurance.

                  4.6.1 Eagle will obtain, and maintain at all times while this
                  Agreement is in effect, a term life insurance policy (the
                  "Policy") on Langmead in the amount of Six Hundred Thousand
                  ($600,000.00), the particular product and carrier to be chosen
                  by Eagle in its discretion. Langmead shall have the right to
                  designate the beneficiary of the Policy. Eagle will pay the
                  premium for the Policy. In the event Langmead is rated and the
                  premium exceeds the standard rate, the Policy amount shall be
                  lowered to the maximum amount that can be purchased at the
                  standard rate for a Six Hundred Thousand ($600,000.00) policy.
                  For example, if Langmead is rated and the standard rate for a
                  Six Hundred Thousand ($600,000.00) policy would acquire a Five
                  Hundred Thousand ($500,000.00) policy, Eagle would only be
                  required to purchase the Five Hundred Thousand ($500,000.00)
                  policy.

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                  4.6.2 Parking.  Will be provided by Eagle.

                  4.6.3 Eagle may, at its cost, obtain and maintain "key-man"
                  life insurance and/or Bank-owned life insurance on Langmead in
                  such amount as determined by the Board from time to time.
                  Langmead agrees to cooperate fully and to take all actions
                  reasonably required by Eagle in connection with such
                  insurance.

                  4.7 Expenses. Eagle shall promptly upon presentation of proper
                  expense reports therefore pay or reimburse Langmead, in
                  accordance with the policies and procedures established from
                  time to time by Eagle for its senior executive officers, for
                  all reasonable and customary travel and other out-of-pocket
                  expenses incurred by Langmead in the performance of his duties
                  and responsibilities under this Agreement and promoting the
                  business of Eagle, including appropriate membership fees, dues
                  and the cost of attending seminars, meetings and conventions.

                  4.8 Retirement Plans. Langmead shall be entitled to
                  participate in any and all qualified pension or other
                  retirement plans of Eagle which may be applicable to executive
                  personnel of Eagle.

                  4.9 Other Benefits. While this Agreement is in effect,
                  Langmead shall be entitled to all other benefits that Eagle
                  provides from time to time to its senior executive officers,
                  including, but not limited to, any stock option plan and other
                  incentive plans.

                  4.10 Eligibility. Participation in any health, life, accident,
                  disability, medical expense or similar insurance plan or any
                  qualified pension or other retirement plan shall be subject to
                  the terms and conditions contained in such plan. All matters
                  of eligibility for benefits under any insurance plans shall be
                  determined in accordance with the provisions of the applicable
                  insurance policy issued by the applicable insurance company.

                  4.11 Warrants. Langmead shall be issued warrants or options to
                  acquire shares of EBI stock from time to time at the
                  discretion of the Board of Directors of EBI following a
                  recommendation by the Board. In that regard, it is
                  acknowledged that concurrent with the execution of this
                  Agreement Langmead will be granted stock options for five
                  thousand (5,000) shares in accordance with the EBI 1998 Stock
                  Option Plan under a vesting schedule as determined by EBI.
                  Additional options may be granted during the term of this
                  Agreement.

         5.       Conditions Subsequent to Continued Operation and Effect of
                  Agreement.

                  5.1 Continued Approval by Bank Regulatory Agencies. This
                  Agreement and all of its terms and conditions, and the
                  continued operation and effect of this Agreement and Eagle's
                  continuing obligations hereunder, shall at all times be
                  subject to the continuing approval of any and all Bank
                  Regulatory Agencies whose approval is a necessary prerequisite
                  to the continued operation of Eagle. Should any term or
                  condition of this Agreement, upon review by any Bank
                  Regulatory Agency, be found to violate or not be in compliance
                  with any then-applicable statute or any rule, regulation,
                  order or understanding promulgated by any Bank Regulatory
                  Agency, or should any term or condition required to be
                  included herein by any such Bank Regulatory Agency be absent,
                  this Agreement may be rescinded and terminated by Eagle if the
                  parties hereto cannot in good faith agree upon such additions,
                  deletions, or modifications as may be deemed necessary or
                  appropriate to bring this Agreement into compliance.

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         6.       Termination of Agreement. This Agreement may be terminated
                  prior to expiration of the Term as provided below.

                  6.1 Definition of Cause. For purposes of this Agreement,
                  "Cause" means:

                      (a) any act of theft, fraud, intentional misrepresentation
                      or similar conduct by Langmead in connection with or
                      associated with the services rendered by Langmead to Eagle
                      under this Agreement;

                      (b) any failure of this Agreement to comply with any Bank
                      Regulatory Agency requirement which is not cured in
                      accordance with Section 5.1 within a reasonable period of
                      time after written notice thereof;

                      (c) any Bank Regulatory Agency action or proceeding
                      against Langmead as a result of his negligence, fraud,
                      malfeasance or misconduct;

                      (d) any of the following conduct on the part of Langmead
                      that Langmead has not corrected or cured within thirty
                      (30) days after having received written notice from Eagle
                      detailing and describing such conduct:

                           (i)   the use of drugs, alcohol or other substances
                                 by Langmead to an extent which materially
                                 interferes with or prevents Langmead from
                                 performing Langmead's duties under this
                                 Agreement;

                           (ii)  failure by or the inability of Langmead to
                                 devote full time, attention and energy to the
                                 performance of Langmead's duties pursuant to
                                 this Agreement (other than by reason of his
                                 death or disability);

                           (iii) intentional material failure by Langmead to
                                 carry out the explicit lawful and reasonable
                                 directions, instructions, policies, rules,
                                 regulations or decisions of the Board which are
                                 consistent with his position; or

                           (iv)  willful or intentional misconduct on the part
                                 of Langmead that results in substantial injury
                                 to Eagle or any of its parent, subsidiaries or
                                 affiliates.

                  6.2 Termination by Eagle.

                           6.2.1 For Cause. Eagle shall have the right to cancel
                           and terminate this Agreement and Langmead's
                           employment for Cause immediately on written notice,
                           with Langmead's compensation and benefits ceasing as
                           of Langmead's last day of employment, provided,
                           however, that Langmead shall be entitled to benefits
                           through the last day of employment and accrued
                           compensation to that date.

                           6.2.2 Without Cause. Eagle shall have the right to
                           cancel and terminate this Agreement and Langmead's
                           employment at any time on written notice without
                           Cause for any or no reason, with Langmead's
                           compensation and benefits ceasing as of Langmead's
                           last day of employment, subject to the provisions of
                           Section 6.4. and Article 8.

                  6.3 Termination by Langmead. Langmead shall have the right to
                  cancel and terminate this Agreement and his employment at any
                  time on sixty (60) days prior written notice to the Board,
                  with Langmead's compensation and benefits ceasing as of
                  Langmead's last day of employment, provided, however, that
                  Langmead shall be entitled to benefits through the last day of
                  employment and accrued compensation to that date.

                  6.4 Severance. Except as set forth below, if Langmead's
                  employment with Eagle is terminated by Eagle or its successors
                  during the Term without Cause, Eagle shall, for the balance of
                  the Term, continue to pay Langmead, in the manner set forth
                  below, Langmead's Salary and benefits at the rate being paid
                  as of the date of termination; provided, however, that
                  Langmead shall not be entitled to any such payments of Salary
                  if (i) his employment is terminated due to his death or
                  long-term disability, or (ii) this Agreement is rendered null
                  and void pursuant to Section 5.1, or (iii) there is a Change
                  in Control Termination (as defined in Section 8.2). Any Salary
                  due Langmead pursuant to this Section 6.4 shall be paid to
                  Langmead in installments on the same schedule as Langmead was
                  paid immediately prior to the date of termination, each
                  installment to be the same amount Langmead would have been
                  paid under this Agreement if he had not been terminated. In
                  the event Langmead breaches any provision of Article 7 of this
                  Agreement, Langmead's entitlement to any Salary payable
                  pursuant to this Section 6.4, if and to the extent not yet
                  paid, shall thereupon immediately cease and terminate.

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         7.       Confidentiality;  Non-Interference.

                  7.1 Confidential Information. Langmead, during employment by
                  Eagle, will have access to and become familiar with various
                  confidential and proprietary information of Eagle, its parent,
                  subsidiaries and/or affiliates and/or relating to the business
                  of Eagle, its parent, subsidiaries and/or affiliates
                  ("Confidential Information"), including, but not limited to:
                  business plans; operating results; financial statements and
                  financial information; contracts; mailing lists; purchasing
                  information; customer data (including lists, names and
                  requirements); feasibility studies; personnel related
                  information (including compensation, compensation plans, and
                  staffing plans); internal working documents and
                  communications; and other materials related to the businesses
                  or activities of Eagle, its parent, subsidiaries and/or
                  affiliates which is made available only to employees with a
                  need to know or which is not generally made available to the
                  public. Failure to mark any Confidential Information as
                  confidential, proprietary or protected information shall not
                  affect its status as part of the Confidential Information
                  subject to the terms of this Agreement.

                  7.2 Nondisclosure. Langmead hereby covenants and agrees that
                  Langmead shall not at any time, directly or indirectly,
                  disclose, divulge, reveal, report, publish, or transfer any
                  Confidential Information to any Person, or use Confidential
                  Information in any way or for any purpose, except as required
                  in the course of Langmead's employment by Eagle. The covenant
                  set forth in this Section 7.2 shall not apply to information
                  now known by the public or which becomes known generally to
                  the public (other than as a result of a breach of this Article
                  7 by Langmead) or information that is customarily shown or
                  disclosed. Langmead further covenants and agrees that Langmead
                  shall not at any time, directly or indirectly, disclose to any
                  Person, including but not limited to any other employee of EBI
                  or Eagle, any of the terms of this Agreement.

                  7.3 Documents. All files, papers, records, documents,
                  compilations, summaries, lists, reports, notes, databases,
                  tapes, sketches, drawings, memoranda, and similar items
                  (collectively, "Documents"), whether prepared by Langmead, or
                  otherwise provided to or coming into the possession of
                  Langmead, that contain any proprietary information about or
                  pertaining or relating to Eagle, its parent, subsidiaries
                  and/or affiliates and/or their businesses ("Eagle
                  Information") shall at all times remain their exclusive
                  property. Promptly after a request by Eagle or the termination
                  of Langmead's employment, Langmead shall take reasonable
                  efforts to (i) return to Eagle all Documents in any tangible
                  form (whether originals, copies or reproductions) and all
                  computer disks containing or embodying any Document or Eagle
                  Information and (ii) purge and destroy all Documents and Eagle
                  Information in any intangible form (including computerized,
                  digital or other electronic format) as may be requested in
                  writing by the Chairman of the Board of Eagle, and Langmead
                  shall not retain in any tangible form any such Document or any
                  summary, compilation, synopsis or abstract of any Document or
                  Eagle Information.

                  7.4 Non-Interference. Langmead hereby covenants and agrees
                  that during his employment and for a period of twelve (12)
                  months after Langmead's last date of employment with Eagle,
                  Langmead will not, directly or indirectly, for himself or any
                  other Person (whether as a proprietor, owner, agent, officer,
                  director, shareholder, partner, principal, member, employee,
                  contractor, consultant or any other capacity), induce or
                  attempt to induce any customers, suppliers, officers,
                  employees, contractors, consultants, agents or representatives
                  of, or any other person that has a business relationship with,
                  Eagle or any of its parent, subsidiaries and affiliates to
                  discontinue, terminate or reduce the extent of their
                  relationship with Eagle and/or any such parent, subsidiary or
                  affiliate or to take any action that would disrupt or
                  otherwise be disadvantageous to any such relationship, nor
                  will Langmead otherwise solicit any customer or employee of
                  Eagle on behalf of himself or any other Person or entity.

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                  7.5 Injunction. In the event of any breach or threatened or
                  attempted breach of any such provision by Langmead, Eagle
                  shall, in addition to and not to the exclusion of any other
                  rights and remedies at law or in equity, be entitled to seek
                  and receive from any court of competent jurisdiction (i) full
                  temporary and permanent injunctive relief enjoining and
                  restraining Langmead and each and every other Person concerned
                  therein from the continuation of such volatile acts and (ii) a
                  decree for specific performance of the applicable provisions
                  of this Agreement, without being required to furnish any bond
                  or other security.

                  7.6 Reasonableness.

                  Langmead has carefully read and considered the provisions of
                  this Article 7 and, having done so, agrees that the
                  restrictions and agreements set forth in this Article 7 are
                  fair and reasonable and are reasonably required for the
                  protection of the interests of Eagle and its business,
                  shareholders, directors, officers and employees. Langmead
                  further agrees that the restrictions set forth in this
                  Agreement will not impair or unreasonably restrain Langmead's
                  ability to earn a livelihood.

         8.       Change in Control.

                  8.1      Definition.  "Change in Control" means and
                  shall be deemed to have occurred if:

                  (a) there shall be consummated any consolidation or merger of
                  EBI in which EBI is not the continuing or surviving
                  corporation or pursuant to which shares of EBI's capital stock
                  are converted into cash, securities or other property other
                  than a consolidation or merger of EBI in which the holders of
                  EBI's voting stock immediately before the consolidation or
                  merger shall, upon consummation of the consolidation or
                  merger, own at least 50% of the voting stock of the surviving
                  corporation, or any sale of all or substantially all of the
                  assets of EBI; or

                  (b) any person (within the meaning of Sections 13(d) and
                  14(d)(2) of the Securities Exchange Act of 1934, as amended
                  (the "Exchange Act")) shall after the Commencement Date become
                  the beneficial owner (within the meaning of Rules 13d-3 and
                  13d-5 under the Exchange Act), directly or indirectly, of
                  securities of EBI representing fifty-one percent (51%) or more
                  of the voting power of then all outstanding securities of EBI
                  entitled to vote generally in the election of directors of EBI
                  (including, without limitation, any securities of EBI that any
                  such person has the right to acquire pursuant to any
                  agreement, or upon exercise of conversion rights, warrants or
                  options, or otherwise, which shall be deemed beneficially
                  owned by such person); or

                  (c) individuals who at the Commencement Date constitute the
                  entire Board of Directors of EBI and any new directors whose
                  election by the Board of Directors of EBI, or whose nomination
                  for election by EBI's stockholders, shall have been approved
                  by a vote of at least a majority of the directors then in
                  office who either were directors at the Commencement Date or
                  whose election or nomination for election shall have been so
                  approved, shall cease for any reason to constitute at least a
                  majority of the Board of Directors of EBI.

                  8.2 Change in Control Termination. For purposes of this
                  Agreement, a "Change in Control Termination" means that while
                  this Agreement is in effect:

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                  (a) Langmead's employment with Eagle is terminated without
                  Cause within one hundred twenty (120) days immediately (i)
                  prior to and in conjunction with a Change in Control or (ii)
                  following consummation of a Change in Control; or

                  (b) Langmead is notified within one hundred twenty (120) days
                  immediately prior to or immediately following consummation of
                  a Change in Control that, as a result of the Change in
                  Control, he will not be continued in a comparable position
                  (with comparable compensation and benefits) with Eagle to the
                  position Langmead holds at the time such notice is given if
                  the notice is given prior to the Change in Control or, if the
                  notice is given after a Change in Control, to the position
                  Langmead held immediately prior to the Change in Control, and
                  within fifteen (15) days after receiving such notification
                  Langmead notifies Eagle that he is terminating his employment
                  due to such change in his employment, with his last day of
                  employment to be mutually agreed to by Eagle and Langmead but
                  which shall be not more than sixty (60) days after such notice
                  is given by Langmead; or

                  (c) If at the expiration of the one hundred twenty (120) day
                  period immediately following consummation of a Change in
                  Control (the "Action Period") none of the events described in
                  Sections 8.2(a) and 8.2(b) above have occurred, Langmead,
                  within the thirty (30) day period immediately following the
                  last day of the Action Period, notifies Eagle that he is
                  terminating his employment due to the Change in Control, with
                  his last day of employment to be mutually agreed to by Eagle
                  and Langmead but which shall be not more than sixty (60) days
                  after such notice is given by Langmead.

                  8.3 Change in Control Payment. If there is a Change in Control
                  Termination, Langmead shall be paid a lump-sum cash payment
                  (the "Change Payment") equal to 2.99 times Langmead's Salary
                  at the highest rate in effect during the twelve (12) month
                  period immediately preceding his last day of employment, such
                  Change Payment to be made to Langmead within forty-five (45)
                  days after his last day of employment.

                  8.4 Adjustment.

                  (a) Notwithstanding anything in this Agreement to the
                  contrary, if the Determining Firm (as defined in Section
                  8.4(b)) determines that any portion of the Change Payment
                  and/or the portions, if any, of other payments or
                  distributions in the nature of compensation by Eagle to or for
                  the benefit of Langmead (including, but not limited to, the
                  value of the acceleration in vesting of restricted stock,
                  options or any other stock-based compensation) whether or not
                  paid or payable or distributed or distributable pursuant to
                  the terms of this Agreement (collectively with the Change
                  Payment, the "Aggregate Payment"), would cause any portion of
                  the Aggregate Payment to be subject to the excise tax imposed
                  by Code Section 4999 or would be nondeductible by Eagle
                  pursuant to Code Section 280G (such portion subject to the
                  excise tax or being nondeductible, the "Parachute Payment"),
                  the Aggregate Payment will be reduced, beginning with the
                  Change Payment, to an amount which will not cause any portion
                  of the Aggregate Payment to constitute a Parachute Payment.

                  (b) All determinations required to be made under this Section
                  8.4, will be made by a reputable law or accounting firm (the
                  "Determining Firm") selected by Eagle. All fees and expenses
                  of the Determining Firm will be obligations solely of Eagle.
                  The determination of the Determining Firm will be binding upon
                  Eagle and Langmead.

         9. Assignability. Langmead shall have no right to assign this Agreement
         or any of Langmead's rights or obligations hereunder to another party
         or parties.

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         10. Governing Law. This Agreement shall be governed by and construed in
         accordance with the laws of the State of Maryland applicable to
         contracts executed and to be performed therein, without giving to the
         choice of law rules thereof.

         11. Notices. All notices, requests, demands and other communications
         required to be given or permitted to be given under this Agreement
         shall be in writing and shall be conclusively deemed to have been given
         (1) when hand delivered to the other party, or (2) when received when
         by facsimile at the address a number set forth below provided however,
         that notices given by facsimile shall not be effective unless either a
         duplicate copy of such facsimile notice is promptly given by depositing
         same in a United States Post Office first-class postage prepaid and
         addressed to the parties as set forth below, or the receiving party
         delivers a written confirmation of receipt for such notice either by
         facsimile or any other method permitted under this subject,
         additionally, any notice given by facsimile shall be deemed received on
         the next business day if such notice is received after 5:00 p.m.
         (recipient's time) or on a non-business day); or three (3) business
         days after the same have been deposited in a United States post office
         with first-class certified mail, return receipt, postage prepaid and
         addressed to the parties as set forth below; or (4) the next business
         day after same have been deposited with a national overnight delivery
         service reasonably approved by the parties (Federal Express and DHL
         WorldWide Express being deemed approved by the parties), postage
         prepaid, addressed to the parties as set forth below with
         next-business-day delivery guaranteed, provided that the sending party
         received a confirmation of delivery from the delivery service provider.
         The address of a party set forth below may be changed by that party by
         written notice to the other from time to time pursuant to this Article.

                  To:      James H. Langmead
                           7112 Chardon Court
                           Clarksville, MD 21029

                  To:      EagleBank
                           C/O Ronald D. Paul
                           7815 Woodmont Ave.
                           Bethesda, MD 20814

                  cc:      Fred S. Sommer, Esquire
                           Shulman, Rogers, Gandal, Pordy & Ecker, P.A.
                           11921 Rockville Pike, Third Floor
                           Rockville, MD  20852

         12. Entire Agreement. This Agreement contains all of the agreements and
         understandings between the parties hereto with respect to the
         employment of Langmead by Eagle, and supersedes all prior agreements,
         arrangements and understandings related to the subject matter hereof.
         No oral agreements or written correspondence shall be held to affect
         the provisions hereof. No representation, promise, inducement or
         statement of intention has been made by either party that is not set
         forth in this Agreement, and neither party shall be bound by or liable
         for any alleged representation, promise, inducement or statement of
         intention not so set forth.

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

         14. Severability. Should any part of this Agreement for any reason be
         declared or held illegal, invalid or unenforceable, such determination
         shall not affect the legality, validity or enforceability of any
         remaining portion or provision of this Agreement, which remaining
         portions and provisions shall remain in force and effect as if this
         Agreement has been executed with the illegal, invalid or unenforceable
         portion thereof eliminated.

         15. Amendment: Waiver. Neither this Agreement nor any provision hereof
         may be amended, modified, changed, waived, discharged or terminated
         except by an instrument in writing signed by the party against which
         enforcement of the amendment, modification, change, waiver, discharge
         or termination is sought. The failure of either party at any time or
         times to require performance of any provision hereof shall not in any
         manner affect the right at a later time to enforce the same. No waiver
         by either party of the breach of any term, provision or covenant
         contained in this Agreement, whether by conduct or otherwise, in any
         one or more instances, shall be deemed to be, or construed as, a
         further or continuing waiver of any such breach, or a waiver of the
         breach of any other term, provision or covenant contained in this
         Agreement.

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         16. Gender and Tense. As used in this Agreement, the masculine,
         feminine and neuter gender, and the singular or plural number, shall
         each be deemed to include the other or others whenever the context so
         indicates.

         17. Binding Effect. This Agreement is and shall be binding upon, and
         inures to the benefit of, Eagle, its successors and assigns, and
         Langmead and his heirs, executors, administrators, and personal and
         legal representatives.

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

         EAGLEBANK

         By:   ______________________

         Title: ______________________

         JAMES H. LANGMEAD

         ----------------------------
         James H. Langmead

         ----------------------------
         Date

                                       9<PAGE>

                                                                     EXHIBIT 4.1

                               WARRANT TO PURCHASE

                             SHARES OF COMMON STOCK

                                       OF

                                 GLOWPOINT, INC.

                             Expires March 14, 2010

No.: W-F-05-___                                    Number of Shares: ___________
Date of Issuance:  March 14, 2005

         FOR VALUE RECEIVED, subject to the provisions hereinafter set forth,
the undersigned, Glowpoint, Inc., a Delaware corporation (together with its
successors and assigns, the "Issuer"), hereby certifies that
_______________________________ or its registered assigns is entitled to
subscribe for and purchase, during the Term (as hereinafter defined), up to
____________________________________ (_____________) shares (subject to
adjustment as hereinafter provided) of the duly authorized, validly issued,
fully paid and non-assessable Common Stock of the Issuer, at an exercise price
per share equal to the Warrant Price then in effect, subject, however, to the
provisions and upon the terms and conditions hereinafter set forth. Capitalized
terms used in this Warrant and not otherwise defined herein shall have the
respective meanings specified in Section 8 hereof.

         1. Term. The term of this Warrant shall commence on March 14, 2005 and
shall expire at 5:00 p.m., eastern time, on March 14, 2010 (such period being
the "Term").

         2. Method of Exercise Payment; Issuance of New Warrant; Transfer and
Exchange.

         (a) Time of Exercise. The purchase rights represented by this Warrant
may be exercised in whole or in part during the Term commencing on September 15,
2005.

         (b) Method of Exercise. The Holder hereof may exercise this Warrant, in
whole or in part, by the surrender of this Warrant (with the exercise form
attached hereto duly executed) at the principal office of the Issuer, and by the
payment to the Issuer of an amount of consideration therefor equal to the
Warrant Price in effect on the date of such exercise multiplied by the number of
shares of Warrant Stock with respect to which this Warrant is then being
exercised, payable at such Holder's election (i) by certified or official bank
check or by wire transfer to an account designated by the Issuer, (ii) by
"cashless exercise" in accordance with the provisions of subsection (c) of this
Section 2, or (iii) by a combination of the foregoing methods of payment
selected by the Holder of this Warrant.

<PAGE>

         (c) Cashless Exercise. The Holder may exercise this Warrant by a
cashless exercise and shall receive the number of shares of Common Stock equal
to an amount (as determined below) by surrender of this Warrant at the principal
office of the Issuer together with the properly endorsed Notice of Exercise in
which event the Issuer shall issue to the Holder a number of shares of Common
Stock computed using the following formula:

                  X = Y - (A)(Y)
                          ------
                            B

Where             X =      the number of shares of Common Stock to be issued to
                           the Holder.

                  Y =      the number of shares of Common Stock purchasable
                           upon exercise of all of the Warrant or, if only a
                           portion of the Warrant is being exercised, the
                           portion of the Warrant being exercised.

                  A =      the Warrant Price.

                  B =      the Per Share Market Value of one share of Common
                           Stock.

         (d) Issuance of Stock Certificates. In the event of any exercise of the
rights represented by this Warrant in accordance with and subject to the terms
and conditions hereof, (i) certificates for the shares of Warrant Stock so
purchased shall be dated the date of such exercise and delivered to the Holder
hereof within a reasonable time, not exceeding three (3) Trading Days after such
exercise or, at the request of the Holder, issued and delivered to the
Depository Trust Company ("DTC") account on the Holder's behalf via the Deposit
Withdrawal Agent Commission System ("DWAC") within a reasonable time, not
exceeding three (3) Trading Days after such exercise, and the Holder hereof
shall be deemed for all purposes to be the holder of the shares of Warrant Stock
so purchased as of the date of such exercise and (ii) unless this Warrant has
expired, a new Warrant representing the number of shares of Warrant Stock, if
any, with respect to which this Warrant shall not then have been exercised (less
any amount thereof which shall have been canceled in payment of the Warrant
Price as hereinabove provided) shall also be issued to the Holder hereof at the
Issuer's expense within such time. All shares of Warrant Stock received upon
exercise of this Warrant shall be freely tradeable and will not be subject to a
restrictive legend on the certificates evidencing such shares. If the
certificates for the shares of Warrant Stock issuable upon exercise of this
Warrant are not delivered within the time period set forth in the first sentence
of this Section 2(d) (an "Exercise Default"), the Holder may, upon written
notice to the Issuer (an "Exercise Default Notice"), regain on the date of such
notice the rights of the Holder under the exercised portion of this Warrant that
is the subject of such Exercise Default. In the event of such Exercise Default
and delivery of an Exercise Default Notice, the Holder shall retain all of the
Holder's rights and remedies with respect to the Issuer's failure to deliver
such shares of Warrant Stock. The Holder's rights and remedies hereunder are
cumulative, and no right or remedy is exclusive of any other. In addition to the
amounts specified herein, the Holder shall have the right to pursue all other
remedies available to it at law or in equity (including, without limitation, a
decree of specific performance and/or injunctive relief). Nothing herein shall
limit the Holder's right to pursue actual damages for the Issuer's failure to
issue and deliver shares of Warrant Stock on the applicable delivery date
(including, without limitation, damages relating to any purchase of Common Stock
by the Holder to make delivery on a sale effected in anticipation of receiving
shares of Warrant Stock upon exercise, such damages to be in an amount equal to
(A) the aggregate amount paid by the Holder for the Common Stock so purchased
minus (B) the aggregate amount of net proceeds, if any, received by the Holder
from the sale of the shares of Warrant Stock issued by the Issuer pursuant to
such exercise).

                                       2
<PAGE>

         (e) Transferability of Warrant. This Warrant may be transferred by a
Holder by surrendering this Warrant at the principal office of the Issuer,
properly endorsed (by the Holder executing an assignment in the form attached
hereto) and upon payment of any necessary transfer tax or other governmental
charge imposed upon such transfer. If transferred pursuant to this paragraph,
this Warrant may be transferred on the books of the Issuer by the Holder hereof
in person or by duly authorized attorney. This Warrant is exchangeable at the
principal office of the Issuer for Warrants for the purchase of the same
aggregate number of shares of Warrant Stock, each new Warrant to represent the
right to purchase such number of shares of Warrant Stock as the Holder hereof
shall designate at the time of such exchange. All Warrants issued on transfers
or exchanges shall be dated the Original Issue Date and shall be identical with
this Warrant except as to the name of the Holder or the number of shares of
Warrant Stock, as applicable.

         (f) Continuing Rights of Holder. The Issuer will, at the time of or at
any time after each exercise of this Warrant, upon the request of the Holder
hereof, acknowledge in writing the extent, if any, of its continuing obligation
to afford to such Holder all rights to which such Holder shall continue to be
entitled after such exercise in accordance with the terms of this Warrant,
provided that if any such Holder shall fail to make any such request, the
failure shall not affect the continuing obligation of the Issuer to afford such
rights to such Holder.

         3. Stock Fully Paid; Reservation and Listing of Shares; Covenants.

         (a) Stock Fully Paid. The Issuer represents, warrants, covenants and
agrees that all shares of Warrant Stock which may be issued upon the exercise of
this Warrant or otherwise hereunder will, when issued in accordance with the
terms of this Warrant, be duly authorized, validly issued, fully paid and
non-assessable and free from all taxes, liens and charges created by or through
the Issuer. The Issuer further covenants and agrees that during the period
within which this Warrant may be exercised, the Issuer will at all times have
authorized and reserved for the purpose of the issue upon exercise of this
Warrant a sufficient number of shares of Common Stock to provide for the
exercise of this Warrant.

         (b) Reservation. If any shares of Common Stock required to be reserved
for issuance upon exercise of this Warrant or as otherwise provided hereunder
require registration or qualification with any governmental authority under any
federal or state law before such shares may be so issued, the Issuer will in
good faith use its reasonable best efforts as expeditiously as possible at its
expense to cause such shares to be duly registered or qualified. If the Issuer
shall list any shares of Common Stock on any securities exchange or market it
will, at its expense, list thereon, maintain and increase when necessary such
listing, of, all shares of Warrant Stock from time to time issued upon exercise
of this Warrant or as otherwise provided hereunder and, to the extent
permissible under the applicable securities exchange rules, all unissued shares
of Warrant Stock which are at any time issuable hereunder, so long as any shares
of Common Stock shall be so listed. The Issuer will also so list on each
securities exchange or market, and will maintain such listing of, any other
securities which the Holder of this Warrant shall be entitled to receive upon
the exercise of this Warrant if at the time any securities of the same class
shall be listed on such securities exchange or market by the Issuer.

                                       3
<PAGE>

         (c) Covenants. The Issuer shall not by any action including, without
limitation, amending the Certificate of Incorporation or the by-laws of the
Issuer, or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other 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 the Holder hereof against dilution (to the extent
specifically provided herein) or impairment. Without limiting the generality of
the foregoing, the Issuer will (i) not permit the par value, if any, of its
Common Stock to exceed the then effective Warrant Price, (ii) not amend or
modify any provision of the Certificate of Incorporation or by-laws of the
Issuer in any manner that would adversely affect the rights of the Holders of
the Warrants in their capacity as Holders of the Warrants, (iii) take all such
action as may be reasonably necessary in order that the Issuer may validly and
legally issue fully paid and nonassessable shares of Common Stock, free and
clear of any liens, claims, encumbrances and restrictions (other than as
provided herein) upon the exercise of this Warrant, and (iv) use its reasonable
best efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof as may be reasonably
necessary to enable the Issuer to perform its obligations under this Warrant.

         (d) Loss, Theft, Destruction of Warrants. Upon receipt of an affidavit
of loss and other evidence satisfactory to the Issuer of the ownership of and
the loss, theft, destruction or mutilation of any Warrant and upon receipt of
indemnity or security satisfactory to the Issuer or, in the case of any such
mutilation, upon surrender and cancellation of such Warrant, the Issuer will
make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant,
a new Warrant of like tenor and representing the right to purchase the same
number of shares of Common Stock.

         4. Adjustment of Warrant Price and Warrant Share Number. The number of
shares of Common Stock for which this Warrant is exercisable, and 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
Issuer shall give the Holder notice of any event described below which requires
an adjustment pursuant to this Section 4 in accordance with Section 5.
Notwithstanding anything contained herein to the contrary, the Warrant Price
shall not be adjusted pursuant to Section 4(d) or (e) hereof to a price that is
less than the Per Share Market Value on the Original Issue Date.

         (a) Recapitalization, Reorganization, Reclassification, Consolidation,
Merger or Sale.

                  (i) In case the Issuer after the Original Issue Date
         shall do any of the following (each, a "Triggering Event"): (a)
         consolidate or merge with or into another corporation where the holders
         of outstanding Voting Stock prior to such merger or consolidation do
         not own over 50% of the outstanding Voting Stock of the merged or
         consolidated entity immediately after such merger or consolidation, or
         (b) sell all or substantially all of its properties or assets to any
         other Person, or (c) change the Common Stock to the same or different
         number of shares of any class or classes of stock, whether by
         reclassification, exchange, substitution or otherwise (other than by
         way of a stock split or combination of shares or stock dividends
         provided for in Section 4(b)), or (d) effect a capital reorganization
         (other than by way of a stock split or combination of shares or stock
         dividends provided for in Section 4(b)), then, and in the case of each
         such Triggering Event, proper provision shall be made so that, upon the
         basis and the terms and in the manner provided in this Warrant, the
         Holder of this Warrant shall be entitled upon the exercise hereof at
         any time after the consummation of such Triggering Event, to the extent
         this Warrant is not exercised prior to such Triggering Event, to
         receive at the Warrant Price in effect at the time immediately prior to
         the consummation of such Triggering Event in lieu of the Common Stock
         issuable upon such exercise of this Warrant prior to such Triggering
         Event, the securities, cash and property to which such Holder would
         have been entitled upon the consummation of such Triggering Event if
         such Holder had exercised the rights represented by this Warrant
         immediately prior thereto, subject to adjustments (subsequent to such
         corporate action) as nearly equivalent as possible to the adjustments
         provided for elsewhere in this Section 4. The Issuer will not effect
         any consolidation, merger or sale or conveyance unless prior to the
         consummation thereof, the successor or acquiring entity (if other than
         the Issuer) and, if an entity different from the successor or acquiring
         entity, the entity whose capital stock or assets the holders of the
         Common Stock of the Issuer are entitled to receive as a result of such
         consolidation, merger or sale or conveyance assumes by written
         instrument the obligations under this Section 4 and the obligations to
         deliver to the holder of this Warrant such shares of stock, securities
         or assets as, in accordance with the foregoing provisions, the holder
         may be entitled to acquire.

                                       4
<PAGE>

                  (ii) Notwithstanding anything contained in this Warrant to the
         contrary, a Triggering Event shall not be deemed to have occurred if,
         prior to the consummation thereof, each Person (other than the Issuer)
         which may be required to deliver any securities, cash or property upon
         the exercise of this Warrant as provided herein shall assume, by
         written instrument delivered to, and reasonably satisfactory to, the
         Holder of this Warrant, (A) the obligations of the Issuer under this
         Warrant (and if the Issuer shall survive the consummation of such
         Triggering Event, such assumption shall be in addition to, and shall
         not release the Issuer from, any continuing obligations of the Issuer
         under this Warrant) and (B) the obligation to deliver to such Holder
         such shares of securities, cash or property as, in accordance with the
         foregoing provisions of this subsection (a), such Holder shall be
         entitled to receive, and such Person shall have similarly delivered to
         such Holder a written acknowledgement executed by the President or
         Chief Financial Officer of the Issuer, stating that this Warrant shall
         thereafter continue in full force and effect and the terms hereof
         (including, without limitation, all of the provisions of this
         subsection (a)) shall be applicable to the securities, cash or property
         which such Person may be required to deliver upon any exercise of this
         Warrant or the exercise of any rights pursuant hereto.

         (b) Stock Dividends, Subdivisions and Combinations. If at any time the
Issuer shall:

                  (i) make or issue or set a record date for the
         holders of its Common Stock for the purpose of entitling them to
         receive a dividend payable in, or other distribution of, shares of
         Common Stock,

                  (ii) effect a stock split of its outstanding shares
         of Common Stock into a larger number of shares of Common Stock, or

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

                                       5
<PAGE>

then (1) 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 (2) the Warrant Price then in
effect shall be adjusted to equal (A) the Warrant Price then in effect
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 of Common Stock for which this Warrant is exercisable immediately after
such adjustment.

Notwithstanding the foregoing, if such record date shall have been fixed and
such dividend is not fully paid or if such distribution is not fully made on the
date fixed therefor, the Warrant Price shall be adjusted pursuant to this
paragraph as of the time of actual payment of such dividends or distributions.

         (c) Certain Other Distributions. If at any time the Issuer 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 (other than a cash dividend payable out of earnings
         or earned surplus legally available for the payment of dividends under
         the laws of the jurisdiction of incorporation of the Issuer),

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

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

then (1) the number of shares of Common Stock for which this Warrant is
exercisable shall be adjusted to equal the product of the number of shares of
Common Stock for which this Warrant is exercisable immediately prior to such
adjustment multiplied by a fraction (A) the numerator of which shall be the Per
Share Market Value of Common Stock at the date of taking such record and (B) the
denominator of which shall be such Per Share Market Value minus the amount
allocable to one share of Common Stock of any such cash so distributable and of
the fair value (as determined in good faith by the Board of Directors of the
Issuer) of any and all such evidences of indebtedness, shares of stock, other
securities or property or warrants or other subscription or purchase rights so
distributable, and (2) the Warrant Price then in effect shall be adjusted to
equal (A) the Warrant Price then in effect 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 of Common Stock for which this
Warrant is exercisable immediately after such adjustment. 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 Issuer to the
holders of its Common Stock of such shares of such other class of stock within
the meaning of this Section 4(c) 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(b).

                                       6
<PAGE>

         (d) Issuance of Additional Shares of Common Stock.

                  (i) Subject to the third sentence of the first paragraph of
         this Section 4, in the event the Issuer shall, at any time while this
         Warrant is outstanding, issue any Additional Shares of Common Stock
         (otherwise than as provided in the foregoing subsections (b) through
         (c) of this Section 4), at a price per share less than the Warrant
         Price then in effect or without consideration, then the Warrant Price
         upon each such issuance shall be adjusted to that price determined by
         multiplying the Warrant Price then in effect by a fraction:

                           (A) the numerator of which shall be equal to the sum
                  of (x) the number of shares of Common Stock outstanding
                  immediately prior to the issuance of such Additional Shares of
                  Common Stock plus (y) the number of shares of Common Stock
                  which the aggregate consideration for the total number of such
                  Additional Shares of Common Stock so issued would purchase at
                  a price per share equal to the Warrant Price then in effect,
                  and

                           (B) the denominator of which shall be equal to the
                  number of shares of Common Stock outstanding immediately after
                  the issuance of such Additional Shares of Common Stock.

                  (ii) The provisions of paragraph (i) of Section 4(d) shall not
         apply to any issuance of Additional Shares of Common Stock for which an
         adjustment is provided under Section 4(b) or 4(c). No adjustment of the
         number of shares of Common Stock for which this Warrant shall be
         exercisable shall be made under paragraph (i) of Section 4(d) upon the
         issuance of any Additional Shares of Common Stock which are issued
         pursuant to the exercise of any Common Stock Equivalents, if any such
         adjustment shall previously have been made upon the issuance of such
         Common Stock Equivalents (or upon the issuance of any warrant or other
         rights therefor) pursuant to Section 4(e).

         (e) Issuance of Common Stock Equivalents. Subject to the third sentence
of the first paragraph of this Section 4, if at any time the Issuer shall take a
record of the Holders of its Common Stock for the purpose of entitling them to
receive a distribution of, or shall in any manner (whether directly or by
assumption in a merger in which the Issuer is the surviving corporation) issue
or sell, any Common Stock Equivalents, whether or not the rights to exchange or
convert thereunder are immediately exercisable, and the price per share for
which Common Stock is issuable upon such conversion or exchange shall be less
than the Warrant Price in effect immediately prior to the time of such issue or
sale, then the number of shares of Common Stock for which this Warrant is
exercisable and the Warrant Price then in effect shall be adjusted as provided
in Section 4(d) on the basis that the maximum number of Additional Shares of
Common Stock necessary to effect the conversion or exchange of all such Common
Stock Equivalents shall be deemed to have been issued and outstanding and the
Issuer shall have received all of the consideration payable therefor, if any, as
of the date of actual issuance of such Common Stock Equivalents. No further
adjustment of the number of shares of Common Stock for which this Warrant is
exercisable and the Warrant Price then in effect shall be made under this
Section 4(f) upon the issuance of any Common Stock Equivalents which are issued
pursuant to the exercise of any warrants or other subscription or purchase
rights therefor, if any such adjustment shall previously have been made upon the
issuance of such warrants or other rights pursuant to Section 4(e).

                                       7
<PAGE>

         (f) Superseding Adjustment. If, at any time after any adjustment of the
number of shares of Common Stock for which this Warrant is exercisable and the
Warrant Price then in effect shall have been made pursuant to Section 4(e) as
the result of any issuance of warrants, other rights or Common Stock
Equivalents, and (i) such warrants or other rights, or the right of conversion
or exchange in such other Common Stock Equivalents, shall expire, and all or a
portion of such warrants or other rights, or the right of conversion or exchange
with respect to all or a portion of such other Common Stock Equivalents, as the
case may be shall not have been exercised, or (ii) the consideration per share
for which shares of Common Stock are issuable pursuant to such Common Stock
Equivalents, shall be increased solely by virtue of provisions therein contained
for an automatic increase in such consideration per share upon the occurrence of
a specified date or event, then for each outstanding Warrant such previous
adjustment shall be rescinded and annulled and the Additional Shares of Common
Stock which were deemed to have been issued by virtue of the computation made in
connection with the adjustment so rescinded and annulled shall no longer be
deemed to have been issued by virtue of such computation. Upon the occurrence of
an event set forth in this Section 4(f) above, there shall be a recomputation
made of the effect of such Common Stock Equivalents on the basis of: (i)
treating the number of Additional Shares of Common Stock or other property, if
any, theretofore actually issued or issuable pursuant to the previous exercise
of any such warrants or other rights or any such right of conversion or
exchange, as having been issued on the date or dates of any such exercise and
for the consideration actually received and receivable therefor, and (ii)
treating any such Common Stock Equivalents which then remain outstanding as
having been granted or issued immediately after the time of such increase of the
consideration per share for which shares of Common Stock or other property are
issuable under such Common Stock Equivalents; whereupon a new adjustment of the
number of shares of Common Stock for which this Warrant is exercisable and the
Warrant Price then in effect shall be made, which new adjustment shall supersede
the previous adjustment so rescinded and annulled.

         (g) 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 Common Stock for which this Warrant is exercisable and the
Warrant Price then in effect provided for in this Section 4:

                  (i) Computation of Consideration. To the extent that any
         Additional Shares of Common Stock or any Common Stock Equivalents (or
         any warrants or other rights therefor) shall be issued for cash
         consideration, the consideration received by the Issuer therefor shall
         be the amount of the cash received by the Issuer therefor, or, if such
         Additional Shares of Common Stock or Common Stock Equivalents are
         offered by the Issuer for subscription, the subscription price, or, if
         such Additional Shares of Common Stock or Common Stock Equivalents are
         sold to underwriters or dealers for public offering without a
         subscription offering, the initial public offering price (in any such
         case subtracting any amounts paid or receivable for accrued interest or
         accrued dividends and without taking into account any compensation,
         discounts or expenses paid or incurred by the Issuer for and in the
         underwriting of, or otherwise in connection with, the issuance
         thereof). To the extent that such issuance shall be for a consideration
         other than cash, then, except as herein otherwise expressly provided,
         the amount of such consideration shall be deemed to be the fair value
         of such consideration at the time of such issuance as determined in
         good faith by the Board of Directors of the Issuer. In case any
         Additional Shares of Common Stock or any Common Stock Equivalents (or
         any warrants or other rights therefor) shall be issued in connection
         with any merger in which the Issuer issues any securities, the amount
         of consideration therefor shall be deemed to be the fair value, as
         determined in good faith by the Board of Directors of the Issuer, of
         such portion of the assets and business of the nonsurviving corporation
         as such Board in good faith shall determine to be attributable to such
         Additional Shares of Common Stock, Common Stock Equivalents, or any
         warrants or other rights therefor, as the case may be. The
         consideration for any Additional Shares of Common Stock issuable
         pursuant to any warrants or other rights to subscribe for or purchase
         the same shall be the consideration received by the Issuer for issuing
         such warrants or other rights plus the additional consideration payable
         to the Issuer upon exercise of such warrants or other rights. The
         consideration for any Additional Shares of Common Stock issuable
         pursuant to the terms of any Common Stock Equivalents shall be the
         consideration received by the Issuer for issuing warrants or other
         rights to subscribe for or purchase such Common Stock Equivalents, plus
         the consideration paid or payable to the Issuer in respect of the
         subscription for or purchase of such Common Stock Equivalents, plus the
         additional consideration, if any, payable to the Issuer upon the
         exercise of the right of conversion or exchange in such Common Stock
         Equivalents. In case of the issuance at any time of any Additional
         Shares of Common Stock or Common Stock Equivalents in payment or
         satisfaction of any dividends upon any class of stock other than Common
         Stock, the Issuer shall be deemed to have received for such Additional
         Shares of Common Stock or Common Stock Equivalents a consideration
         equal to the amount of such dividend so paid or satisfied.

                                       8
<PAGE>

                  (ii) 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, except that any adjustment
         of the number of shares of Common Stock for which this Warrant is
         exercisable that would otherwise be required may be postponed (except
         in the case of a subdivision or combination of shares of the Common
         Stock, as provided for in Section 4(b)) up to, but not beyond the date
         of exercise if such adjustment either by itself or with other
         adjustments not previously made adds or subtracts less than one percent
         (1%) of the shares of Common Stock for which this Warrant is
         exercisable immediately prior to the making of such adjustment. Any
         adjustment representing a change of less than such minimum amount
         (except as aforesaid) which is postponed shall be carried forward and
         made as soon as such adjustment, together with other adjustments
         required by this Section 4 and not previously made, would result in a
         minimum adjustment or on the date of exercise. 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.

                  (iii) Fractional Interests. In computing adjustments under
         this Section 4, fractional interests in Common Stock shall be taken
         into account to the nearest one one-hundredth (1/100th) of a share.

                  (iv) When Adjustment Not Required. If the Issuer shall take a
         record of the holders of its Common Stock for the purpose of entitling
         them to receive a dividend and shall, thereafter and before the
         dividend to stockholders thereof, legally abandon its plan to pay or
         deliver such dividend, 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.

         (h) Form of Warrant after Adjustments. The form of this Warrant need
not be changed because of any adjustments in the Warrant Price or the number and
kind of Securities purchasable upon the exercise of this Warrant.

         5. Notice of Adjustments. Whenever the Warrant Price or Warrant Share
Number shall be adjusted pursuant to Section 4 hereof (for purposes of this
Section 5, each an "adjustment"), the Issuer shall cause its Chief Financial
Officer to prepare and execute a certificate setting forth, in reasonable
detail, the event requiring the adjustment, the amount of the adjustment, the
method by which such adjustment was calculated, and the Warrant Price and
Warrant Share Number after giving effect to such adjustment, and shall cause
copies of such certificate to be delivered to the Holder of this Warrant
promptly after each adjustment.

         6. Fractional Shares. No fractional shares of Warrant Stock will be
issued in connection with and exercise hereof, but in lieu of such fractional
shares, the Issuer shall make a cash payment therefor equal in amount to the
product of the applicable fraction multiplied by the Per Share Market Value then
in effect.

                                       9
<PAGE>

         7. Ownership Cap and Certain Exercise Restrictions. Notwithstanding
anything to the contrary set forth in this Warrant, at no time may a Holder of
this Warrant exercise this Warrant if the number of shares of Common Stock to be
issued pursuant to such exercise would exceed, when aggregated with all other
shares of Common Stock owned by such Holder at such time, the number of shares
of Common Stock which would result in such Holder owning more than 4.999% of all
of the Common Stock outstanding at such time; provided, however, that upon a
holder of this Warrant providing the Issuer with sixty-one (61) days notice
(pursuant to Section 12 hereof) (the "Waiver Notice") that such Holder would
like to waive this Section 7 with regard to any or all shares of Common Stock
issuable upon exercise of this Warrant, this Section 7 will be of no force or
effect with regard to all or a portion of the Warrant referenced in the Waiver
Notice; provided, further, that this provision shall be of no further force or
effect during the sixty-one (61) days immediately preceding the expiration of
the term of this Warrant.

8. Definitions. For the purposes of this Warrant, the following terms have the
following meanings:

                  "Capital Stock" means and includes (i) any and all shares,
         interests, participations or other equivalents of or interests in
         (however designated) corporate stock, including, without limitation,
         shares of preferred or preference stock, (ii) all partnership interests
         (whether general or limited) in any Person which is a partnership,
         (iii) all membership interests or limited liability company interests
         in any limited liability company, and (iv) all equity or ownership
         interests in any Person of any other type.

                  "Certificate of Incorporation" means the Certificate of
         Incorporation of the Issuer as in effect on the Original Issue Date,
         and as hereafter from time to time amended, modified, supplemented or
         restated in accordance with the terms hereof and thereof and pursuant
         to applicable law.

                  "Common Stock" means the Common Stock, par value $.0001 per
         share, of the Issuer and any other Capital Stock into which such stock
         may hereafter be changed.

                  "Holders" mean the Persons who shall from time to time own any
         Warrant. The term "Holder" means one of the Holders.

                  "Independent Appraiser" means a nationally recognized or major
         regional investment banking firm or firm of independent certified
         public accountants of recognized standing (which may be the firm that
         regularly examines the financial statements of the Issuer) that is
         regularly engaged in the business of appraising the Capital Stock or
         assets of corporations or other entities as going concerns, and which
         is not affiliated with either the Issuer or the Holder of any Warrant.

                  "Issuer" means Glowpoint, Inc., a Delaware corporation, and
         its successors.

                  "Majority Holders" means at any time the Holders of Warrants
         exercisable for at least 51% of the shares of Warrant Stock issuable
         under the Warrants at the time outstanding.

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

                  "Original Issue Date" means March 14, 2005.

                  "OTC Bulletin Board" means the over-the-counter electronic
         bulletin board.

                  "Person" means an individual, corporation, limited liability
         company, partnership, joint stock company, trust, unincorporated
         organization, joint venture, governmental authority or other entity of
         whatever nature.

                                       10
<PAGE>

                  "Per Share Market Value" means on any particular date (a) the
         average of the closing bid and asked price per share of the Common
         Stock on such date on Nasdaq or another registered national stock
         exchange on which the Common Stock is then listed, or if there is no
         such price on such date, then the average of the closing bid and asked
         price on such exchange or quotation system on the date nearest
         preceding such date, or (b) if the Common Stock is not listed then on
         Nasdaq or any registered national stock exchange, the closing bid price
         for a share of Common Stock in the over-the-counter market, as reported
         by the OTC Bulletin Board or in the National Quotation Bureau
         Incorporated or similar organization or agency succeeding to its
         functions of reporting prices) at the close of business on such date,
         or (c) if the Common Stock is not then reported by the OTC Bulletin
         Board or the National Quotation Bureau Incorporated (or similar
         organization or agency succeeding to its functions of reporting
         prices), then the average of the "Pink Sheet" quotes for the relevant
         conversion period, as determined in good faith by the holder, or (d) if
         the Common Stock is not then publicly traded the fair market value of a
         share of Common Stock as determined by an Independent Appraiser
         selected in good faith by the Majority Holders; provided, however, that
         the Issuer, after receipt of the determination by such Independent
         Appraiser, shall have the right to select an additional Independent
         Appraiser, in which case, the fair market value shall be equal to the
         average of the determinations by each such Independent Appraiser; and
         provided, further that all determinations of the Per Share Market Value
         shall be appropriately adjusted for any stock dividends, stock splits
         or other similar transactions during such period. The determination of
         fair market value by an Independent Appraiser shall be based upon the
         fair market value of the Issuer determined on a going concern basis as
         between a willing buyer and a willing seller and taking into account
         all relevant factors determinative of value, and shall be final and
         binding on all parties.

                  "Purchase Agreement" means the Common Stock Purchase Agreement
         dated as of March 14, 2005, among the Issuer and the investors a party
         thereto.

                  "Securities" means any debt or equity securities of the
         Issuer, whether now or hereafter authorized, any instrument convertible
         into or exchangeable for Securities or a Security, and any option,
         warrant or other right to purchase or acquire any Security. "Security"
         means one of the Securities.

                  "Securities Act" means the Securities Act of 1933, as amended,
         or any similar federal statute then in effect.

                  "Subsidiary" means any corporation at least 50% of whose
         outstanding Voting Stock shall at the time be owned directly or
         indirectly by the Issuer or by one or more of its Subsidiaries, or by
         the Issuer and one or more of its Subsidiaries.

                  "Term" has the meaning specified in Section 1 hereof.

                  "Trading Day" means (a) a day on which the Common Stock is
         traded on Nasdaq, or (b) if the Common Stock is not listed on Nasdaq, a
         day on which the Common Stock is traded on any other registered
         national stock exchange, or (c) if the Common Stock is not traded on
         any other registered national stock exchange, a day on which the Common
         Stock is traded on the OTC Bulletin Board, or (d) if the Common Stock
         is not traded on the OTC Bulletin Board, a day on which the Common
         Stock is quoted in the over-the-counter market as reported by the
         National Quotation Bureau Incorporated (or any similar organization or
         agency succeeding its functions of reporting prices); provided,
         however, that in the event that the Common Stock is not listed or
         quoted as set forth in (a), (b) or (c) hereof, then Trading Day shall
         mean any day except Saturday, Sunday and any day which shall be a legal
         holiday or a day on which banking institutions in the State of New York
         are authorized or required by law or other government action to close.

                                       11
<PAGE>

                  "Voting Stock" means, as applied to the Capital Stock of any
         corporation, Capital Stock of any class or classes (however designated)
         having ordinary voting power for the election of a majority of the
         members of the board of directors (or other governing body) of such
         corporation, other than Capital Stock having such power only by reason
         of the happening of a contingency.

                  "Warrants" means the Warrants issued and sold pursuant to the
         Purchase Agreement, including, without limitation, this Warrant, and
         any other warrants of like tenor issued in substitution or exchange for
         any thereof pursuant to the provisions of Section 2(c), 2(d) or 2(e)
         hereof or of any of such other Warrants.

                  "Warrant Price" initially means $2.40, as such Warrant Price
         may be adjusted from time to time as shall result from the adjustments
         specified in this Warrant, including Section 4 hereto.

                  "Warrant Share Number" means at any time the aggregate number
         of shares of Warrant Stock which may at such time be purchased upon
         exercise of this Warrant, after giving effect to all prior adjustments
         and increases to such number made or required to be made under the
         terms hereof.

                  "Warrant Stock" means Common Stock issuable upon exercise of
         any Warrant or Warrants or otherwise issuable pursuant to any Warrant
         or Warrants.

         9. Other Notices. In case at any time:

                                    (A)     the Issuer shall make any
                                            distributions to the holders of
                                            Common Stock; or

                                    (B)     the Issuer shall authorize the
                                            granting to all holders of its
                                            Common Stock of rights to subscribe
                                            for or purchase any shares of
                                            Capital Stock of any class or other
                                            rights; or

                                    (C)     there shall be any reclassification
                                            of the Capital Stock of the Issuer;
                                            or

                                    (D)     there shall be any capital
                                            reorganization by the Issuer; or

                                    (E)     there shall be any (i) consolidation
                                            or merger involving the Issuer or
                                            (ii) sale, transfer or other
                                            disposition of all or substantially
                                            all of the Issuer's property, assets
                                            or business (except a merger or
                                            other reorganization in which the
                                            Issuer shall be the surviving
                                            corporation and its shares of
                                            Capital Stock shall continue to be
                                            outstanding and unchanged and except
                                            a consolidation, merger, sale,
                                            transfer or other disposition
                                            involving a wholly-owned
                                            Subsidiary); or

                                    (F)     there shall be a voluntary or
                                            involuntary dissolution, liquidation
                                            or winding-up of the Issuer or any
                                            partial liquidation of the Issuer or
                                            distribution to holders of Common
                                            Stock;

                                       12
<PAGE>

then, in each of such cases, the Issuer shall give written notice to the Holder
of the date on which (i) the books of the Issuer shall close or a record shall
be taken for such dividend, distribution or subscription rights or (ii) such
reorganization, reclassification, consolidation, merger, disposition,
dissolution, liquidation or winding-up, as the case may be, shall take place.
Such notice also shall specify the date as of which the holders of Common Stock
of record shall participate in such dividend, distribution or subscription
rights, or shall be entitled to exchange their certificates for Common Stock for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, disposition, dissolution, liquidation
or winding-up, as the case may be. Such notice shall be given at least twenty
(20) days prior to the record date or effective date for the event specified in
such notice.

         10. Amendment and Waiver. Any term, covenant, agreement or condition in
this Warrant may be amended, or compliance therewith may be waived (either
generally or in a particular instance and either retroactively or
prospectively), by a written instrument or written instruments executed by the
Issuer and the Majority Holders; provided, however, that no such amendment or
waiver shall reduce the Warrant Share Number, increase the Warrant Price,
shorten the period during which this Warrant may be exercised or modify any
provision of this Section 10 without the consent of the Holder of this Warrant.

         11. Governing Law. This Warrant shall be governed by and construed in
accordance with the laws of the State of Delaware, without giving effect to
principles of conflicts of law. Each of the Issuer and the Holder (i) hereby
irrevocably submits to the exclusive jurisdiction of the United States District
Court sitting in the District of Delaware and the courts of the State of
Delaware for the purposes of any suit, action or proceeding arising out of or
relating to this Warrant or any of the other Transaction Documents (as defined
in the Purchase Agreement) or the transactions contemplated hereby or thereby
and (ii) hereby waives, and agrees not to assert in any such suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of
such court, that the suit, action or proceeding is brought in an inconvenient
forum or that the venue of the suit, action or proceeding is improper. Each of
the Issuer and the Holder consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address in
effect for notices to it under the Purchase Agreement and agrees that such
service shall constitute good and sufficient service of process and notice
thereof. Nothing in this Section 11 shall affect or limit any right to serve
process in any other manner permitted by law.

         12. Notices. Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earlier of (i) the date of transmission, if
such notice or communication is delivered via facsimile at the facsimile
telephone number specified for notice prior to 5:00 p.m., eastern time, on a
Trading Day, (ii) the Trading Day after the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile telephone number
specified for notice later than 5:00 p.m., eastern time, on any date and earlier
than 11:59 p.m., eastern time, on such date, (iii) the Trading Day following the
date of mailing, if sent by overnight delivery by nationally recognized
overnight courier service or (iv) actual receipt by the party to whom such
notice is required to be given. The addresses for such communications shall be
with respect to the Holder of this Warrant or of Warrant Stock issued pursuant
hereto, addressed to such Holder at its last known address or facsimile number

                                       13
<PAGE>

appearing on the books of the Issuer maintained for such purposes, or with
respect to the Issuer, addressed to:

                                    Glowpoint, Inc.
                                    225 Long Avenue
                                    Hillside, New Jersey 07205
                                    Attention:  Chief Financial Officer
                                    Tel. No.: 973-391-2000
                                    Fax No.:  973-923-3352

Copies of notices to the Issuer shall be sent to Morrison & Foerster LLP, 1290
Avenue of the Americas, New York, New York 10104, Attention: Michael J.W.
Rennock, Esq. Tel. No.: (212) 468-8288, Fax No.: (212) 468-7900. Any party
hereto may from time to time change its address for notices by giving at least
ten (10) days written notice of such changed address to the other party hereto.

         13. Warrant Agent. The Issuer may, by written notice to each Holder of
this Warrant, appoint an agent having an office in New York, New York for the
purpose of issuing shares of Warrant Stock on the exercise of this Warrant
pursuant to subsection (b) of Section 2 hereof, exchanging this Warrant pursuant
to subsection (d) of Section 2 hereof or replacing this Warrant pursuant to
subsection (d) of Section 3 hereof, or any of the foregoing, and thereafter any
such issuance, exchange or replacement, as the case may be, shall be made at
such office by such agent.

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

         15. Successors and Assigns. This Warrant and the rights evidenced
hereby shall inure to the benefit of and be binding upon the successors and
assigns of the Issuer, the Holder hereof and (to the extent provided herein) the
Holders of Warrant Stock issued pursuant hereto, and shall be enforceable by any
such Holder or Holder of Warrant Stock.

         16. Modification and Severability. If, in any action before any court
or agency legally empowered to enforce any provision contained herein, any
provision hereof is found to be unenforceable, then such provision shall be
deemed modified to the extent necessary to make it enforceable by such court or
agency. If any such provision is not enforceable as set forth in the preceding
sentence, the unenforceability of such provision shall not affect the other
provisions of this Warrant, but this Warrant shall be construed as if such
unenforceable provision had never been contained herein.

         17. Headings. The headings of the Sections of this Warrant are for
convenience of reference only and shall not, for any purpose, be deemed a part
of this Warrant.

                                       14
<PAGE>

         IN WITNESS WHEREOF, the Issuer has executed this Warrant as of the day
and year first above written.

                                     GLOWPOINT, INC.

                                     By:
                                         -----------------------------------
                                         Gerard E. Dorsey
                                         Chief Financial Officer,
                                         Executive Vice President, Finance

                                       15
<PAGE>

                                  EXERCISE FORM
                                 GLOWPOINT, INC.

The undersigned _______________, pursuant to the provisions of the within
Warrant, hereby elects to exercise this Warrant for _____ shares of Common Stock
of Glowpoint, Inc.

Dated: ____________________         Signature _________________________________

                                    Address ___________________________________

                                            ___________________________________

Number of shares of Common Stock beneficially owned or deemed beneficially owned
by the Holder on the date of Exercise: _________________________

                                   ASSIGNMENT

FOR VALUE RECEIVED, _________________ hereby sells, assigns and transfers unto
__________________ the within Warrant and all rights evidenced thereby and does
irrevocably constitute and appoint _____________, attorney, to transfer the said
Warrant on the books of the within named corporation.

Dated: ____________________         Signature _________________________________

                                    Address ___________________________________

                                            ___________________________________

                               PARTIAL ASSIGNMENT

FOR VALUE RECEIVED, _________________ hereby sells, assigns and transfers unto
__________________ the right to purchase _________ shares of Warrant Stock
evidenced by the within Warrant together with all rights therein, and does
irrevocably constitute and appoint ___________________, attorney, to transfer
that part of the said Warrant on the books of the within named corporation.

Dated: ____________________         Signature _________________________________

                                    Address ___________________________________

                                            ___________________________________

                                       16
<PAGE>

                           FOR USE BY THE ISSUER ONLY:

This Warrant No. W-___ canceled (or transferred or exchanged) this _____ day of
___________, _____, shares of Common Stock issued therefor in the name of
_______________, Warrant No. W-_____ issued for ____ shares of Common Stock in
the name of _______________.

                                       18

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