Document:

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EX. 4.1

                                WARRANT AGREEMENT

THIS WARRANT AGREEMENT (the "Agreement") is made and entered into as of August ,
2001, by and between HIV-VAC, Inc., a Nevada corporation (the "Company") and
Continental Stock Transfer and Trust Company (together with any successor, the
"Warrant Agent").

WHEREAS, the Company proposes to conduct an offering (the "Offering") of up to
1,000,000 shares of its Convertible Preferred Stock, Series B (the "Shares");
and,

WHEREAS, the Company, as additional consideration for subscribing for the
Shares, proposes to issue to the purchasers in the Offering 5,000,000 warrants
(the "Warrants") to purchase one share of the Company's common stock, par value
$0.001 per share (the "Common Shares"); and

WHEREAS, the Company proposes to issue to the purchasers in the Offering
certificates representing the Warrants (collectively, the "Warrant
Certificates"); and,

WHEREAS, the Company desires to appoint the Warrant Agent, and the Warrant Agent
agrees, to act on behalf of the Company in connection with the issuance,
transfer, exchange, replacement and surrender of the Warrant Certificates; and,

WHEREAS, the Company and the Warrant Agent desire to set forth in this
Agreement, among other things, the form and provisions of the Warrant
Certificates and the terms and conditions under which they may be issued,
transferred, exchanged, replaced and surrendered in connection with exercise of
the Warrants;

NOW THEREFORE, in consideration of the premises and of the mutual agreements
herein contained, the parties hereto agree as follows:

                                   ARTICLE I
                      DISTRIBUTION OF WARRANT CERTIFICATES

1.1   Appointment of Warrant Agent. The Company hereby appoints the Warrant
Agent to act on behalf of the Company in accordance with the instructions
hereinafter in this Agreement set forth, and the Warrant Agent hereby accepts
such appointment.

1.2   Form of Warrant Certificates. The Warrant Certificates for the Warrants
shall be issued in registered form only and, together with the purchase and
assignment forms to be printed on the reverse thereof, shall be substantially in
the form of EXHIBIT A, and in addition, may have such letters, numbers or other
marks of identification or designation and such legends, summaries or
endorsements stamped, printed, lithographed or engraved thereon as the Company
may deem appropriate and as are not inconsistent with the provisions of this
Agreement or as, in any particular case, may be required, in

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the opinion of the Company, to comply with any law or with any rule or
regulation of any regulatory authority or agency, or to conform to customary
usage.

1.3   Execution of Warrant Certificates. The Warrant Certificates shall be
executed on behalf of the Company by its Chairman or Vice Chairman of the Board,
or President or any Vice President, and by its Chief Financial Officer or any
Assistant Treasurer or Secretary or any Assistant Secretary, either manually or
by facsimile signature printed thereon. The Warrant Certificates shall be
manually countersigned and dated the date of countersignature by the Warrant
Agent and shall not be valid for any purpose unless so countersigned and dated.
In the case any authorized officer of the Company who shall have signed any of
the Warrant Certificates shall cease to be such officer of the Company either
before or after delivery thereof by the Company to the Warrant Agent, the
signature of such person on such Warrant Certificates, nevertheless, shall be
valid and such Warrant Certificates may be countersigned by the Warrant Agent
and issued and delivered to those persons entitled to receive the Warrants
represented by thereby with the same force and effect as though the person who
signed such Warrant Certificates had not ceased to be such officer of the
Company.

1.4   Issuance and Distribution of Warrant Certificates. Upon completion of the
Offering, the Company shall deliver to the Warrant Agent an adequate supply of
Warrant Certificates for the Warrants executed on behalf of the Company as
described in Section 1.3 hereof. Upon receipt of an order from the Company, the
Warrant Agent shall within three (3) business days complete and countersign the
Warrant Certificates representing the total number of Warrants to be issued as
part of the Units, and shall deliver such Warrant Certificates pursuant to
written instructions of the Company.

                                   ARTICLE II
                 WARRANT EXERCISE PRICE AND EXERCISE OF WARRANTS

2.1   Exercise Price. Each Warrant Certificate for Warrants shall, when signed
and countersigned as set forth in Section 1.3 of this Agreement, entitle the
registered holder thereof to purchase from the Company one Common Share for each
Warrant represented thereby at an exercise price (the "Exercise Price") equal to
the average of the Market Price (as defined in Section 3.2 below) of the Common
Shares for the ten (10) trading days commencing on the first trading day
immediately following the effective date of a registration statement filed by
the Company under the Securities Act of 1933, as amended, with respect to the
Common Shares issuable upon exercise of the Warrants (a "Registration
Statement"), but in any case not less than $1.50 (the "Minimum Exercise Price").
The number of Common Shares issuable upon exercise of a Warrant and the Exercise
Price may be adjusted from time to time pursuant to the provisions of Article
III of this Agreement.

2.2   Exercisability of Warrants. Each Warrant may be exercised at any time
after issuance, but not after 5:00 pm, central time on August ___, 2003, unless
extended for an additional year at the Company's option by written notice given
to the Warrant Agent on or before August ___, 2003 (the "Exercise Deadline").

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2.3   Procedure for Exercise of Warrants. At anytime after the date of issuance
and before the Exercise Deadline, Warrants may be exercised by surrendering the
Warrant Certificates representing such Warrants to the Warrant Agent at its
offices as specified in Section 7.15 of this Agreement (the "Principal Office")
with the election to purchase form set forth on the Warrant Certificate duly
completed and executed, with signature guaranteed by an eligible guarantor
institution that is a participant in a signature guarantee program acceptable to
the Warrant Agent ("Signature Guaranteed"), accompanied by payment in full of
such taxes as are specified in Section 7.1 hereof and the Exercise Price in
effect at the time of such exercise, for each Common Share with respect to which
such Warrants are being exercised. The Exercise Price and taxes shall be paid in
full by certified check or money order payable in United States currency to the
order of the Company. The date on which the Warrants are exercised is sometimes
referred to herein as the "Exercise Date."

2.4   Issuance of Common Shares. As soon as practicable after the Exercise Date,
the Warrant Agent shall provide the Company and the Escrow Agent under that
certain Escrow Agreement (the "Escrow Agreement") of even date herewith between
the Company and Continental Stock Transfer and Trust Company, as escrow agent
(the "Escrow Agent"), with written notice of such exercise. Upon receipt of such
notice, the Company shall cause the Escrow Agent to transfer to the exercising
Warrant holder, in certificated or uncertificated form, that number of Common
Shares to which such holder is entitled in accordance with the instructions set
forth in the election to purchase. All Common Shares issued on exercise of any
Warrants shall be validly authorized and issued, fully paid and nonassessable,
and free from all taxes, liens and charges created by the Company in respect of
the issue thereof, and shall be previously unissued shares. Each person entitled
to Common Shares pursuant to instructions set forth in the election to purchase
shall for all purposes be deemed to have become the beneficial owner on the
Exercise Date of the Common Shares to be issued upon exercise of the Warrants
covered by election to purchase, irrespective of the date of issuance or
delivery of the Common Shares. Promptly after a Registration Statement has been
declared effective by the Securities and Exchange Commission (the "SEC"), the
Company shall cause notice thereof or a copy of the prospectus covering the
Common Shares to be mailed to the Warrant Agent and each registered holder of
Warrants.

2.5   Certificate of Unexercised Warrants. In the event that less than all of
the Warrants represented by a Warrant Certificate are exercised, the Warrant
Agent shall countersign and mail, by first class mail, within 30 days of the
Exercise Date, to the registered holder of such Certificate, or such other
person as shall be designated in the election to purchase, a new Warrant
Certificate representing the number of full Warrants not exercised. In no event
shall a fraction of a Warrant be exercised, and the Warrant Agent shall
distribute no Warrant Certificates representing fractions of Warrants under this
or any other section of this Agreement. Final fractions of Common Shares shall
be treated as provided in Section 3.14.

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2.6   Disposition of Proceeds. The Warrant Agent shall account at least
quarterly (or more frequently at the request of the Company; provided that in no
event shall the Warrant Agent be required to account more frequently than
monthly) to the Company with respect to Warrants exercised and concurrently
deliver to the Company all funds.

                                  ARTICLE III
                        ADJUSTMENTS AND NOTICE PROVISIONS

3.1   Adjustment of Exercise Price. Subject to the provisions of this Article
III, the Exercise Price in effect from time to time shall be subject to
adjustment, as follows:

(a)   In case the Company shall at any time after the date the Warrants were
first issued (1) declare a dividend on its outstanding common stock payable in
shares of its capital stock, (2) subdivide its outstanding common stock, (3)
combine its outstanding common stock into a smaller number of shares, or (4)
issue any shares of its capital stock by reclassification of its common stock
(including any such reclassification in connection with a consolidation or
merger in which the Company is the surviving entity), then, in each case, the
Minimum Exercise Price, and the number of Common Shares issuable upon exercise
of the Warrants, in effect at the time of the record date for such dividend or
of the effective date of such subdivision, combination or reclassification,
shall be proportionately adjusted so that the registered holders after such time
shall be entitled to receive the aggregate number and kind of shares which, if
the Warrants had been exercised immediately prior to such time, he would have
owned upon such exercise and been entitled to receive by virtue of such
dividend, subdivision, combination or reclassification. Such adjustment shall be
made successively whenever any event listed above shall occur.

(b)   In case the Company shall issue or fix a record date for the issuance to
all holders of its common stock of rights, options, or warrant to subscribe for
or purchase the Company's common stock (or securities convertible into or
exchangeable for the Company's common stock) at a price per share (or having a
conversion or exchange price per share, if a security convertible into or
exchangeable for the Company's common stock) less than the Market Price of the
common stock on such record date, then, in each case, the Minimum Exercise Price
shall be adjusted by multiplying the Minimum Exercise Price in effect
immediately prior to such record date by a fraction, the numerator of which
shall be the number of shares of common stock outstanding on such record date
plus the number of shares of common stock which the aggregate offering price of
the total number of shares of common stock so to be offered (or the aggregate
initial conversion or exchange price of the convertible or exchangeable
securities so to be offered) would purchase at such Market Price and the
denominator of which shall be the number of shares of common stock outstanding
on such record date plus the number of additional shares of common stock to be
offered for subscription or purchase (or into which the convertible or
exchangeable securities so to be offered are initially convertible or
exchangeable); provided, however, that no such adjustment shall be made which
results in an increase in the Minimum Exercise Price. Such adjustment shall
become effective at the close of business on such record date; provided,
however, that, to the

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extent the shares of common stock (or securities convertible into or
exchangeable for shares of common stock) are not delivered, the Minimum Exercise
Price shall be readjusted after the expiration of such rights, options, or
warrants (but only with respect to Warrants exercised after such expiration), to
the Minimum Exercise Price which would then be in effect had the adjustments
made upon the issuance of such rights, options, or warrants been made upon the
basis of delivery of only the number of shares of common stock (or securities
convertible into or exchangeable for shares of common stock) actually issued. In
case any subscription price may be paid in a consideration, part or all of which
shall be in a form other than cash, the value of such consideration shall be as
determined in good faith by the board of directors of the Company, whose
determination shall be conclusive absent manifest error. Shares of common stock
owned by or held for the account of the Company or any majority-owned subsidiary
shall not be deemed outstanding for the purpose of any such computation.

(c)   In case the Company shall distribute to all holders of its common stock
(including any such distribution made to the stockholders of the Company in
connection with a consolidation or merger in which the Company is the surviving
corporation) evidences of its indebtedness, cash or assets (other than
distributions and dividends payable in shares of common stock), or rights,
options, or warrants to subscribe for or purchase common stock, or securities
convertible into or changeable for shares of common stock (excluding those with
respect to the issuance of which an adjustment of the Minimum Exercise Price is
provided pursuant to Section 3.1(d) hereof), then, in each case, the Minimum
Exercise Price shall be adjusted by multiplying the Minimum Exercise Price, in
effect immediately prior to the record date for the determination of
stockholders entitled to receive such distribution by a fraction, the numerator
of which shall be the Market Price of the common stock on such record date, less
the fair market value (as determined in good faith by the board of directors of
the Company, whose determination shall be conclusive absent manifest error) of
the portion of the evidences of indebtedness or assets so to be distributed, or
of such rights, options, or warrants or convertible or exchangeable securities,
or the amount of such cash, applicable to one share, and the denominator of
which shall be such Market Price of the common stock. Such adjustment shall
become effective at the close of business on such record date.

(d)   In any case in which this Article III shall require that an adjustment in
the Exercise Price be made effective as of a record date for a specified event,
the Company may elect to defer, until the occurrence of such event, issuing to
the holders of the Warrants, if any holder has exercised a Warrant after such
record date, the Common Shares, if any, issuable upon such exercise over and
above the Common Shares issuable upon such exercise on the basis of the Exercise
Price in effect prior to such adjustment; provided, however, that the Company
shall deliver to such exercising holder a due bill or other appropriate
instrument evidencing such holder's right to receive such additional shares upon
the occurrence of the event requiring such adjustment.

(e)   Upon each adjustment of the Minimum Exercise Price as a result of the
calculations made in Sections 3.1(a) or 3.1(b) hereof, the holders of Warrants
shall thereafter be entitled to purchase, at the adjusted Exercise Price, that
number of shares

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(calculated to the nearest thousandth) obtained by dividing (i) the product
obtained by multiplying the number of shares purchasable upon exercise of the
Warrant prior to adjustment of the number of shares by the Exercise Price in
effect prior to adjustment of the Exercise Price by (ii) the Exercise Price in
effect after such adjustment of the Exercise Price.

3.2   Definition of Market Price. As used in this Agreement, the term "Market
Price" shall mean:

(i)   if the Common Shares are listed, or admitted to unlisted trading
privileges on a national securities exchange, or is traded on the Nasdaq
National Market or the Nasdaq Small-Cap Market, the last reported high bid price
on the each trading day of any measurement period to which such Market Price
relates, in each case as officially reported by the principal securities
exchange on which the Common Shares are listed or admitted to unlisted trading
privileges or by the Nasdaq National Market or Nasdaq Small-Cap Market, or

(ii)  if the Common Shares are not listed or admitted to unlisted trading
privileges, on any national securities exchange, or traded on the Nasdaq
National Market or Nasdaq Small-Cap Market, but is traded on the OTC Bulletin
Board of the Nasdaq Stock Market, Inc. (the "OTCBB"), then the Market Price is
the last reported high bid price of the Common Shares reported by the OTCBB; or

(iii) if the Common Shares are not listed or admitted to unlisted trading
privileges, on any national securities exchange, or traded on the Nasdaq
National Market, Nasdaq Small-Cap Market, or the OTCBB but is traded in the
over-the-counter market, then the Market Price is the last reported high bid
price of the Common Shares reported by the National Quotation Bureau, Inc. or
similar bureau if the National Quotation Bureau, Inc. is no longer reporting
such information on the date of the event to which such Market Price relates,
and if no such prices are reported on such date, then the average of the last so
reported high bid prices on the last five trading days on which such prices are
reported immediately preceding such date; or

(iv)  if the Common Shares are neither listed, nor admitted to unlisted trading
privileges on a national securities exchange, nor traded on the Nasdaq National
Market or Nasdaq Small-Cap Market, nor on the OTCBB, nor traded in the
over-the-counter market, then the fair market value of the Common Shares, not
less that the book value thereof, as of the date of the event to which such
Market Price relates, as determined in good faith (using customary valuation
methods) by the Board of Directors of the Company, which determination shall be
evidenced by a resolution of the Board of Directors and based on the best
information available to it.

3.3   Merger and Consolidation. In case of any consolidation with or merger of
the Company with or into another corporation (other than a merger or
consolidation in which the Company is the surviving or continuing corporation),
or in case of any sale, lease, or conveyance to another corporation of the
property and assets of any nature of the

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Company as an entirety or substantially as an entirety, such successor, leasing,
or purchasing corporation, as the case may be, the Company shall (a) execute
with the Warrant Agent an agreement providing that the holders of the Warrants
shall have the right thereafter to receive upon exercise of the Warrants solely
the kind and amount of shares of stock and other securities, property, cash, or
any combination thereof receivable upon such consolidation, merger, sale, lease,
or conveyance by a holder of the number of shares of the Company's common stock
for which the Warrants might have been exercised immediately prior to such
consolidation, merger, sale, lease, or conveyance, and (b) make effective
provision in its certificate of incorporation or otherwise, if necessary, to
effect such agreement. Such agreement shall provide for adjustments that shall
be as nearly equivalent as practicable to the adjustments in Section 3.1.

3.4   Reclassification. In case of any reclassification or change of the Common
Shares issuable upon exercise of the Warrants (other than a change in par value
or from no par value to a specified par value, or as a result of a subdivision
or combination, but including any change in the shares into two or more classes
or series or shares), or in case of any consolidation or merger of another
corporation into the Company in which the Company is the continuing corporation
and in which there is a reclassification or change (including a change to the
right to receive cash or other property) of the Common Shares (other than a
change in par value, or from no par value to a specified par value, or as a
result of a subdivision or combination, but including any change in the shares
into two or more classes or series of shares), the holders of Warrants shall
have the right thereafter to receive upon exercise of the Warrants solely the
kind and amount of shares of stock and other securities, property, cash, or any
combination thereof receivable upon such reclassification, change,
consolidation, or merger by a holder of the number of shares of the Company's
common stock for which the Warrants might have been exercised immediately prior
to such reclassification, change, consolidation, or merger. Thereafter,
appropriate provision shall be made for adjustments that shall be as nearly
equivalent as practicable to the adjustments in Section 3.1.

3.5   Verification of Computations. Whenever the Minimum Exercise Price is
adjusted as provide in this Article III, the Company shall promptly obtain a
certificate of a firm of independent public accountants of recognized standing
selected by the board of directors (who may be the regular auditors of the
Company) setting forth the Minimum Exercise Price, so adjusted, and a brief
statement of the facts accounting for such adjustment, an shall make available a
brief summary thereof to the Warrant Agent and to the holders of the Warrants,
at their addresses listed on the register maintained for the purpose by the
Warrant Agent.

3.6   Notice of Actions. In the event that the Company shall propose to take any
action that could cause an adjustment in the Minimum Exercise Price, the Company
shall cause notice of such proposal to be given to the Warrant Agent. Such
notice shall specify the date on which the action is expected to take place. The
Company shall cause copies of such notice to be mailed to each registered holder
of Warrants at least 20 calendar days prior to the date of expected action.

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3.7   Amendment to Warrant Certificates. Irrespective of any adjustments
pursuant to this Article III, Warrant Certificates theretofore or thereafter
issued need not be amended or replaced, but certificates thereafter issued shall
bear a legend or other notice of any adjustments.

3.8   Fractional Shares. The Company shall not be required upon the exercise of
any Warrant to issue fractional shares of its common stock that may result from
adjustments in accordance with this Article III to the Maximum Exercise Price
and the Minimum Exercise Price or the number of Common Shares purchaseable under
each Warrant. If more than one Warrant is exercised at one time by the same
registered holder, the number of full Common Shares that shall be deliverable
shall be computed based on the number of Common Shares deliverable in exchange
for the aggregate number of Warrants exercised. With respect to any final
fraction of a share called for upon the exercise of any Warrant or Warrants, the
Company shall pay a cash adjustment in respect of such final fraction in an
amount equal to the same fraction of the Market Price of a Common Share
calculated in accordance with Section 3.2.

                                   ARTICLE IV
                      REPURCHASE OF WARRANTS BY THE COMPANY

At any time after not less than 30 calendar days written notice to the Warrant
Agent and each registered holder of Warrants, the Company may repurchase all,
but not less than all of the then outstanding Warrants at a price of $0.10 per
Common Share issuable upon exercise of such Warrants, provided that on the date
notice is given (i) the Common Stock issuable upon exercise of the Warrants
shall be subject to an effective registration statement under the Securities
Act, and (ii) the Market Price of the Common Shares for the 20 preceding
consecutive trading days shall have been at least two times the Exercise Price
of the Warrants to be repurchased. During the notice period provided above, the
holder of Warrants may give notice of exercise of the Warrants called for
repurchase, in which event the Company's right to repurchase the Warrants shall
be suspended for the period provided for closing of the purchase of Common
Shares issuable upon exercise of the Warrants.

                                   ARTICLE V
                          OTHER PROVISIONS RELATING TO
                          RIGHTS OF REGISTERED HOLDERS
                             OF WARRANT CERTIFICATES

5.1   Rights of Warrant Holders. No Warrant Certificate shall entitle the
registered holder thereof to any rights of a shareholder of the Company,
including without limitation, the right to vote, to receive dividends and other
distributions, to receive any notice of, or to attend, meetings of shareholders
or any other proceedings of the Company.

5.2   Lost, Stolen, Mutilated or Destroyed Warrant Certificates. If any Warrant
Certificate shall be lost, mutilated, stolen or destroyed, the Company in its
discretion may

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direct the Warrant Agent to execute and deliver, in exchange and substitution
for and upon cancellation of a mutilated Warrant Certificate, or in lieu of or
in substitution for a lost, stolen or destroyed Warrant Certificate, a new
Warrant Certificate for the number of Warrants represented by the Warrant
Certificate so lost, mutilated, stolen or destroyed but only upon receipt of
evidence of such loss, theft or destruction of such Warrant Certificate, and of
the ownership thereof, and indemnity, if requested, all satisfactory to the
Company and the Warrant Agent. Applicants for such substitute Warrant
Certificates shall also comply with such other reasonable regulations and pay
such other reasonable charges incidental thereto as the Company or the Warrant
Agent may prescribe. Any such new Warrant Certificate shall constitute and
original contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated or destroyed Warrant Certificate shall be at anytime
enforceable by anyone.

                                   ARTICLE VI
                    SPLIT UP, COMBINATION, EXCHANGE, TRANSFER
                    AND CANCELLATION OF WARRANT CERTIFICATES

6.1   Split Up, Combination, Exchange and Transfer of Warrant Certificates.

(a)   Prior to the Exercise Deadline, Warrant Certificates, subject to the
provisions of Section 6.2 and compliance with applicable law, may be split up,
combined or exchanged for other Warrant Certificates representing a like
aggregate number of Warrants or may be transferred in whole or in part. Any
holder desiring to split up, combine or exchange a Warrant Certificate or
Warrant Certificates shall make such request in writing delivered to the Warrant
Agent at its Principal Office and shall surrender the Warrant Certificate or
Warrant Certificates so to be split up, combined or exchanged at said office.

(b)   Without the written consent of the Company (which shall not be
unreasonably withheld), Warrants may not be sold, transferred or otherwise
disposed of by the registered holder thereof, except to officers, directors,
partners, members, employees or affiliates of such registered holder. Subject to
the foregoing restriction, any applicable laws, rules or regulations restricting
transferability, any restriction that may appear on a Warrant Certificate in
accordance with the terms hereof, or any "stop-transfer" instructions the
Company may give to the Warrant Agent to implement any such restrictions (which
instructions the Company is expressly authorized to give), transfer of
outstanding Warrant Certificates may be effected by the Warrant Agent from time
to time upon the books of the Company to be maintained by the Warrant Agent for
that purpose, upon surrender of the Warrant Certificate to the Warrant Agent at
its Principal Office, with the assignment form set forth in the Warrant
Certificate duly executed with Signatures Guaranteed.

(c)   Upon any such surrender for split up, combination, exchange or transfer,
the Warrant Agent shall execute and deliver to the person entitled thereto a
Warrant Certificate or Warrant Certificates, as the case may be, as so
requested. The Warrant Agent may require the holder to pay a sum sufficient to
cover any tax or governmental

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charge that may be imposed in connection with any split up, combination,
exchange or transfer of Warrant Certificate prior to the issuance of any new
Warrant Certificate.

6.2   Cancellation of Warrant Certificates. Any Warrant Certificate surrendered
upon the exercise of Warrants or for split up, combination, exchange or
transfer, or purchased or otherwise acquired by the Company, shall be cancelled
and shall not be reissued by the Company; and, except in the case of the
exercise of less than all of the Warrants evidenced by a Warrant Certificate or
as provided in Section 6.1 in the case of a split up, combination, exchange or
transfer, no Warrant Certificate shall be issued hereunder in lieu of such
cancelled Warrant Certificate. Any Warrant Certificate so cancelled shall be
destroyed by the Warrant Agent, unless otherwise directed by the Company.

6.3   Agreement of Warrant Holders. Every holder of a Warrant Certificate by
accepting the same consents and agrees with the Company and the Warrant Agent
and with every other holder of a Warrant that: (a) transfer of the Warrant
Certificates shall be registered on the books of the Company maintained for that
purpose by the Warrant Agent only if surrendered at the Principal Office of the
Warrant Agent, duly endorsed or accompanied by a proper instrument of transfer,
with Signatures Guaranteed; and, (b) prior to due presentment for registration
of transfer, the Company and the Warrant Agent may be deem and treat the person
in whose name the Warrant Certificate is registered as the absolute owner
thereof and of the Warrants evidenced thereby (notwithstanding any notations of
ownership or writing on the Warrant Certificates made by anyone other than the
Company or the Warrant Agent) for all purposes whatsoever, and neither the
Company nor the Warrant Agent shall be affected by any notice to the contrary.

                                  ARTICLE VII
                     PROVISIONS CONCERNING THE WARRANT AGENT
                                AND OTHER MATTERS

7.1   Payment of Taxes and Charges. The Company will from time to time promptly
pay to the Warrant Agent, or make provisions satisfactory to the Warrant Agent
for the payment of, all transfer taxes and charges that may be imposed by the
United States or any state upon the Company or the Warrant Agent in connection
with the issuance or delivery of Common Shares upon the exercise of any
Warrants, but any such taxes in connection with the issuance of Warrant
Certificates or certificates for Common Shares in any name other than that of
the registered holder of the Warrant Certificate surrendered shall be paid by
such registered holder; and, in such case, the Company shall not be required to
issue or deliver any Warrant Certificate or Common Share certificate until such
taxes shall have been paid or it has been established to the Company's
satisfaction that no tax is due.

7.2   Resignation or Removal of Warrant Agent. The Warrant Agent may resign his
duties and be discharged from all further duties and liabilities hereunder after
giving 30 days' notice in writing to the Company, except that such shorter
notice may be given as the Company shall, in writing, accept as sufficient. Upon
comparable notice to the Warrant Agent, the Company may remove the Warrant
Agent; provide, however, that in

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such case the Company shall appoint a new Warrant Agent, as hereinafter
provided, and the removal of the Warrant Agent shall not be effective until a
new Warrant Agent has been appointed and has accepted such appointment. If the
Company shall fail to make such appointment within a period of 30 days after it
has been notified in writing of such resignation or incapacity by the resigning
or incapacitated Warrant Agent or by the registered holder of any Warrant, then
the registered holder of any Warrant may apply to any court of competent
jurisdiction for the appointment of a new Warrant Agent. The Warrant Agent
hereby agrees to take any such action as may be necessary to provide for the
orderly transfer of its responsibilities hereunder to the new Warrant Agent. Any
new Warrant Agent appointed hereunder shall execute, acknowledge and deliver to
the former Warrant Agent last in office, and to the Company, an instrument
accepting such appointment under substantially the same terms and conditions as
are contained herein, and thereupon such new Warrant Agent without any further
act or deed shall become vested with the rights, powers, duties and
responsibilities of the Warrant Agent and the former Warrant Agent shall cease
to be the Warrant Agent; but for any reason if it becomes necessary or expedient
to have the former Warrant Agent execute and deliver any further assurance,
conveyance, act or deed, the same shall be done at the expense of the Company
and shall be legally and validly executed and delivered by the former Warrant
Agent. Notwithstanding anything to the contrary, the former Warrant Agent shall
pay any expenses resulting from such former Warrant Agent's removal due to his
breach of this Agreement.

7.3   Notice of Appointment. Not later than the effective date of the
appointment of a new Warrant Agent, the Company shall cause notice thereof to be
mailed to the former Warrant Agent and the transfer agent for the Common Shares,
and shall forthwith cause a copy of such notice to be mailed to each registered
holder of a Warrant. Failure to mail such notice, or any defect contained
therein, shall not affect the legality or validity of the appointment of any
successor Warrant Agent.

7.4   Merger of Warrant Agent. If the Warrant Agent is not a natural person and
is merged with or into another, or is consolidated with another, then any
company resulting from any merger or consolidation to which the Warrant Agent
shall be a party, shall be the successor Warrant Agent under this Agreement
without further act, provided that such company would be eligible for
appointment as a successor Warrant Agent under the provisions of Section 7.2
hereof. Any such successor Warrant Agent may adopt the prior countersignature of
any predecessor Warrant Agent and distribute Warrant Certificates countersigned
but not distributed by such predecessor Warrant Agent, or may countersign the
Warrant Certificates in its own name.

7.5   Company Responsibilities.

(a) The Company Agrees that it shall pay to the Warrant Agent The sum of $
per year (the "Agency Fee") In cash as reasonable remuneration for his services
as Warrant Agent hereunder and will reimburse the Warrant Agent upon demand for
all expenses, advances and expenditures that the Warrant Agent may reasonably
incur in the execution of its duties hereunder (including fees and disbursements
of legal counsel). Concurrently

                                       11
<PAGE>   12
with the execution of this Agreement, the Company shall pay to the Warrant Agent
the Agency Fee for the period beginning on the date hereof and ending on
December 31, 2001. Thereafter, the Agency Fee shall be payable in advance on or
before the first day of January of each calendar year or portion thereof during
the term of this Agreement.

(b)   provide the Warrant Agent, upon request, with sufficient funds to pay any
cash due pursuant to Section 3.8 upon exercise of Warrants,

(c)   prepare, file and cause to become effective within 120 days after the
first issuance of Warrants a registration statement under the Securities Act
with respect to the Common Shares issuable upon exercise of the Warrants,

(d)   prepare and file with the SEC such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be
necessary to keep such registration statement effective for a period of not less
than six months (subject to extension as provided below) or such longer period
as in the opinion of counsel for the Warrant Agent a prospectus is required by
law to be delivered in connection with sales of the Common Shares issuable on
exercise of the Warrants,

(e)   furnish to each holder of Warrants and to the Warrant Agent such number of
copies of such registration statement, each amendment and supplement thereto,
the prospectus included in such registration statement (including each
preliminary prospectus) and such other documents as such persons may reasonably
request in order to facilitate the disposition of the Common Shares issuable
upon exercise of the Warrants,

(f)   register or qualify the Common Shares issuable on exercise of the Warrants
under such other securities or blue sky laws of such jurisdictions as any holder
of Warrants reasonably requests and do any and all other acts and things which
may be reasonably necessary or advisable to enable such holders to consummate
the disposition the Common Shares issuable on exercise of the Warrants, and

(g)   perform, execute, acknowledge and deliver or cause to be performed,
executed, acknowledged and delivered all further and other acts, instruments and
assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing by the Warrant Agent of the provisions of this Agreement.

7.6   Certificate for the Benefit of Warrant Agent. Whenever in the performance
of his duties under this Agreement the Warrant Agent shall deem it necessary or
desirable that any matter be proved or established or that any instructions with
respect to the performance of his duties hereunder be given by the Company prior
to taking or suffering any action hereunder, such matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed conclusively
proved and established, or such instructions may be given, by a certificate or
instrument signed by the Chairman, the President, a Vice President, the
Secretary or the Treasurer of the Company and delivered to the Warrant Agent.
Such certificate or instrument may be relied upon by the Warrant Agent for any
action taken or suffered in good faith by him under the provisions of this

                                       12
<PAGE>   13
Agreement; but in its discretion the Warrant Agent may in lieu thereof accept
other evidence of such matter or may require such further or additional evidence
as he may deem reasonable.

7.7   Books and Records. The Warrant Agent shall maintain the Company's books
and records for registration and registration of transfer of the Warrants issued
hereunder. Such books shall show the names and addresses of the respective
holders of the Warrants, the number of Warrants evidenced on its face by each
Warrant Certificate and the date of each Warrant Certificate.

7.8   Liability of the Warrant Agent. The Warrant Agent shall be liable
hereunder for his own gross negligence or willful misconduct. The Warrant Agent
shall act hereunder solely by the provisions hereof. The Warrant Agent shall not
be liable for or by reason of any of the statements of fact or recitals
contained in this Agreement or in the Warrant Certificates (except its
countersignature thereof) or be required to verify the same, but all such
statements and recitals are and shall be deemed to have been made by the Company
only. The Warrant Agent will not incur any liability or responsibility to the
Company or to any holder of any Warrants for any action taken, or any failure to
take action, in reliance on any notice, resolution, waiver, consent, order,
certificate, or other paper, document or instrument reasonable believed by the
Warrant Agent to be genuine and to have been signed, sent or presented by the
proper party or parties. The Warrant Agent shall not be under any responsibility
in respect of the validity of this Agreement or the execution and delivery
hereof by the Company or in respect of the validity or execution of any Warrant
Certificate (except its countersignature thereof); nor shall he be responsible
for any breach by the Company of any covenant or condition contained in this
Agreement or in any Warrant Certificate; nor shall he be responsible for the
making of any adjustment required under the provisions of Article III hereof or
responsible for the manner, method or amount of any such adjustment or the facts
that would require any such adjustment; nor shall he by any act hereunder be
deemed to make any representation or warranty as to the authorization or
reservation of any Common Shares or other securities to be issued pursuant to
this Agreement or any Warrant Certificate or as to whether any Common Shares or
other securities will when issued be validly authorized and issued and fully
paid and nonassessable.

7.9   Use of Attorneys, Agents and Employees. The Warrant Agent may execute and
exercise any of the rights or powers hereby vested in he or perform any duty
hereunder either himself or by or through his attorneys, agents or employees.

7.10  Indemnification. The Company agrees to indemnify the Warrant Agent and
save him harmless against any and all losses, expenses or liabilities, including
judgments, costs and counsel fees arising out of or in connection with his
agency under this Agreement, except as a result of the gross negligence or
willful misconduct of the Warrant Agent.

                                       13

<PAGE>   14

7.11 Acceptance of the Agency. The Warrant Agent hereby accepts the agency
established by this Agreement and agrees to perform the same upon the terms and
conditions herein set forth.

7.12 Changes to Agreement. Neither the Company nor the Warrant Agent may, by
supplemental agreement or otherwise, materially alter or change the rights,
privileges or immunities of the registered holders of the Warrants, without the
prior written consent of the holders of a majority of the Warrants.

7.13 Assignment. All the covenants and provisions of this Agreement by or for
the benefit of the Company or the Warrant Agent shall bind and inure to the
benefit of their respective successors and assigns.

7.14 Successor to Company. The Company will not merge or consolidate with or
into any other corporation or sell or otherwise transfer its property, assets
and business substantially as an entirety to a successor corporation, unless the
corporation resulting from such merger, consolidation, sale or transfer (if not
the Company) shall expressly assume, by supplemental agreement reasonably
satisfactory in form and substance to the Warrant Agent, the due and punctual
performance and observance and each and every covenant condition of this
Agreement to be performed and observed by the Company.

7.15 Notices. Any notice or demand required by this Agreement to be given or
made by the Warrant Agent or by the registered holder of any Warrant to or on
the Company shall be sufficiently given or made if sent by certified mail,
postage prepaid, addressed (until another address is filed in writing by the
Company with the Warrant Agent), as follows:

                           HIV-VAC, Inc.
                           P.O. Box 424
                           Collingwood, Ontario
                           Canada L9Y 3Z4

Any notice or demand required by this Agreement to be given or made by the
registered holder of any Warrants or by the Company to or on the Warrant Agent
shall be sufficiently given or made if sent by certified mail, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with
the Company), as follows:

                           Continental Stock Transfer & Trust Company
                           2 Broadway
                           New York, NY 10004

Any notice or demand required by this Agreement to be given or made by the
Company or the Warrant Agent to or on any registered holder of Warrants shall be
sufficiently given or made, whether or not such registered holder receives the
notice, if sent by first class mail, postage prepaid, addressed to such
registered holder at his last address as

                                       14
<PAGE>   15
shown on the books of the Company maintained by the Warrant Agent. Otherwise
such notice or demand shall be deemed given when received by the party entitled
thereto.

7.16 Defects in Notice. Failure to file any certificate or notice or to mail any
notice, or any defect in any certificate or notice pursuant to this Agreement,
shall not affect in any way the rights of any registered holder of a Warrant or
the legality or validity of any adjustment made pursuant to Section 3.1 hereof,
or any transaction giving rise to any such adjustment, or the legality or
validity of any action taken or to be taken by the Company.

7.17 Governing Law. The laws of the State of New York shall govern this Warrant
Agreement and the Warrant Certificates.

7.18 Standing. Nothing in this Agreement expressed and nothing that may be
implied from any of the provisions hereof is intended, or shall be construed, to
confer upon, or given to, any person or corporation other than the Company, the
Warrant Agent and the registered holders of the Warrants any right remedy or
claim under or by reason of this Agreement or of any covenant, condition,
stipulations, promises and agreements contained in this Agreement shall be for
the sole and exclusive benefit of the Company and the Warrant Agent and their
respective successors, and registered holders of the Warrants.

7.19 Headings. The descriptive headings of the articles and sections of this
Agreement are inserted for convenience only and shall not control or affect the
meaning or construction of any of the provisions hereof.

7.20 Counterparts. This Agreement may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original; but such
counterparts shall together constitute but one and the same instrument.

7.21 Conflict of Interest. The Warrant Agent and any shareholder, director,
officer or employee of the Warrant Agent may buy, sell or deal in any of the
Warrants or other securities of the Company or become pecuniarily interested in
any transaction in which the Company may be interested, or contract with or lend
money to the Company or otherwise act as fully and freely as though the Warrant
Agent were not Warrant Agent under this Agreement. Nothing in this Agreement
shall preclude the Warrant Agent from acting in any other capacity for the
Company, including without limitation as escrow agent, trustee under any
indenture or as transfer agent for the Units, Common Shares or any other
securities of the Company, or for any other legal entity.

7.22 Availability of the Agreement. The Warrant Agent shall keep copies of this
Agreement available for inspection by holders of Warrants during normal business
hours at his Principal Office. Copies of this Agreement may be obtained, without
charge, upon written request to the Company at the address set forth in Section
7.15.

                                       15
<PAGE>   16
7.23 Term of Agreement. The term of this Agreement shall commence on the date
hereof and continue until the earlier of (a) August , 2003, or (b) the date
which is 30 days after the Exercise Date of the last outstanding Warrant. Upon
termination of this Agreement, the Warrant Agent shall be discharged from any
further obligation hereunder and the Company shall be discharged from any
further obligation to compensate the Warrant Agent for services rendered after
such termination date.

In Witness Whereof, this Agreement has been duly executed by the parties hereto
as of the day and year first above written.

HIV-VAC, INC.

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

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

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

                                       16
<PAGE>   17
                                                                       EXHIBIT A

No.____                                                           _____ Warrants

                                  HIV-VAC, INC.

                          COMMON STOCK PURCHASE WARRANT

                 Not exerciseable after 5:00, pm, Central time,
                              On ___________, 2003,
         Unless extended for an additional year at the Company's option

THIS CERTIFIES THAT: ________________________________

Or registered assigns is the registered holder (the "Registered Holder") of the
number of Warrants set forth above, each of which represents the right to
purchase one fully paid and nonassessable share of the common stock, no par
value (the "Common Stock"), of HIV-VAC, Inc. (the "Company") at an initial
exercise price equal to the average of the Market Price (as defined in the
Warrant Agreement referred to below) of the Common Stock for the ten (10)
trading days commencing on the first trading day immediately following the
effective date of a registration statement filed by the Company under the
Securities Act of 1933, as amended, with respect to the Common Stock issuable
upon exercise of the Warrant, but in any case not less than $1.50 (the "Minimum
Exercise Price"), at any time after issuance hereof, but not after 5:00 pm,
central time on August ____, 2003, unless extended for an additional year at the
Company's option by written notice given to the Warrant Agent on or before
August ___, 2003 (the "Exercise Deadline"), by surrendering this Warrant
Certificate, with the Form of Election to purchase on the reverse side hereof
duly executed at the office maintained pursuant to the Warrant Agreement
hereinafter referred to for that purpose to Continental Stock Transfer & Trust
Company, or its successor as warrant agent (the "Warrant Agent") and by paying
in full the Exercise Price, plus transfer taxes, if any. Payment of the Exercise
Price shall be made in United States currency, by certified check or money order
payable to the order of the Company.

No Warrant may be exercised after the Exercise Deadline. All Warrants evidenced
hereby shall thereafter become void.

Without the written consent of the Company (which shall not be unreasonably
withheld), Warrants may not be sold, transferred or otherwise disposed of by the
registered holder thereof, except to officers, directors, partners, members,
employees or affiliates of such registered holder. Subject to the foregoing
restriction, any applicable laws, rules or regulations restricting
transferability and to any restriction on transferability that may appear on
this Warrant Certificate in accordance with the terms of the Warrant Agreement,
dated as of August ____, 2001, between the Company and the Warrant Agent (the
"Warrant Agreement"), the Registered Holder shall be entitled to transfer this
Warrant Certificate in whole or in part upon surrender of this Warrant
Certificate at the office of the Warrant Agent maintained for that purpose with
the form of assignment on the reverse side hereof duly executed, with signatures
guaranteed. Upon such a transfer, a new Warrant Certificate or Warrant
Certificates representing the same aggregate number of Warrants will be issued
in accordance with instructions in the form of assignment.

Upon the exercise of less than all of the Warrants evidenced by this Warrant
Certificate, there shall be issued to the Registered Holder a new Warrant
Certificate in respect of the Warrants not exercised.

                                       17
<PAGE>   18
Upon certain events provided for in the Warrant Agreement, the Exercise Price
and the Minimum Exercise Price, and number of shares of Common Stock issuable
upon the exercise of each Warrant are required to be adjusted.

No fractional shares will be issued upon the exercise of Warrants. As to any
final fraction of a share which the Registered Holder of one or more Warrant
Certificates, the rights under which are exercised in the same transaction,
would otherwise be entitled to purchase upon such exercise, the Company shall
pay the cash value thereof determined as provided in the Warrant Agreement.

This Warrant Certificate is issued under and in accordance with the Warrant
Agreement and is subject to the terms and provisions contained in said Warrant
Agreement, to all of which terms and provisions the Registered Holder consents
by acceptance hereof.

This Warrant Certificate shall not entitle the Registered Holder to any of
rights of a shareholder of the Company, including without limitation, the right
to vote, to receive dividends and other distributions, or to attend or receive
any notice of meetings of shareholders or any other proceedings of the Company.

This Warrant Certificate shall not be valid for any purpose until it shall have
been countersigned by the Warrant Agent.

IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly
executed under its corporate seal.

                                           HIV-VAC, INC.

                  [SEAL]

                                           By:
                                                --------------------------------

                                           ATTEST:

                                           -------------------------------------
                                           Treasurer

Countersigned:

Dated:
      ----------------------------         -------------------------------------

                                       18
<PAGE>   19
                          FORM OF ELECTION TO PURCHASE

The undersigned hereby irrevocably elects to exercise _________ of the Warrants
represented by this Warrant Certificate and to purchase the shares of Common
Stock issuable upon the exercise of said Warrants, and requests that
certificates for such shares be issued and delivered as follows:

Issue to:
         -----------------------------------------------------------------------
                                     (Name)

         -----------------------------------------------------------------------
                          (Address, Including Zip Code)

         -----------------------------------------------------------------------
                (Social Security or other Tax Identifying Number)

Deliver to:
           ---------------------------------------------------------------------
                                     (Name)

--------------------------------------------------------------------------------
                          (Address, Including Zip Code)

If the number of warrants hereby exercised does this Warrant Certificate
represent less than all the Warrants, the undersigned requests that a new
Warrant Certificate representing the number of full Warrants not exercised be
issued and delivered as set forth.

In full payment of the purchase price with respect to the Warrants exercised and
transfer taxes, if any, the undersigned hereby tenders payment of $_____ by
certified check or money order payable in the United States currency to the
order of the Company.

Dated:
      --------------------------------

--------------------------------------        --------------------------------
  (Insert Social Security Number or           (Signature of Registered Holder)
  other identifying number of holder)

                                              --------------------------------
                                              (Signature of Registered Holder,
                                                       if co-owned)

 NOTE: Signature must conform in all respects to the name of holder as specified
                     on the face of the Warrant Certificate.

                                       19
<PAGE>   20
                               FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto the
Assignee named below all of the rights of the undersigned represented by the
within Warrant Certificate, with respect to the number of Warrants set forth
below:

<TABLE>
<CAPTION>
Name of Assignee                   Address                     No. of Warrants
----------------                   -------                     ---------------
<S>                                <C>                         <C>
</TABLE>

And does hereby irrevocably constitute and appoint _________________ attorney to
make such transfer on the books of HIV-VAC, Inc. maintained for that purpose,
with full power of substitution in the premises.

Dated:
      --------------------------------

--------------------------------------        --------------------------------
  (Insert Social Security Number or           (Signature of Registered Holder)
  other identifying number of holder)

                                              --------------------------------
                                              (Signature of Registered Holder,
                                                        if co-owned)

 NOTE: Signature must conform in all respects to the name of holder as specified
                     on the face of the Warrant Certificate.

                              Signature Guaranteed:

                                       20<PAGE>   1
                                                                        Ex. 10.1

                                   AGREEMENT

AGREEMENT TO SELL STOCK ("Agreement") dated as of the     day of April 1999 by
and between:

(1)INTRACELL VACCINES LIMITED; hereafter "INTRACELL", An Isle of Man Company
whose registered office is at 1 Sydney Mount Circular Road, Douglas Isle of Man,
1M1 3DB

(2) HIV-VAC INC hereafter "HVI" a Nevada corporation whose corporate office is
at 9101 West Sahara Avenue, Las Vegas, NV 89117

(3) KEVIN W. MURRAY hereafter "Mr. Murray" of 12 Harben Court, Collingwood,
Ontario, Canada

(4) JOHN PALETHORPE hereafter - Mr. Palethorpe of Knoll Hill Belbroughton, Road
Blakedown Worcestershire England

(5) GORDON SKINNER, hereafter "Dr. Skinner" of Harborough Banks, Old Warwick
Road, Lapworth, England

(6) LAVERT DAVIS hereafter "Mr. Davis" of 9101 West Sahara Avenue, Las Vegas, NV
89117

and

(7) FELICIA MURRAY hereafter "Mrs. Murray" of 9101 West Sahara Avenue, Las
Vegas, NV 89117

BACKGROUND

A. HVI is a Corporation quoted on the NASD Electronic Bulletin Board under the
symbol HIVC having previously been incorporated under the name of Persona
Records Inc.

B. HVI has an authorised capital stock of 60,000,000 shares comprised as
follows:

1. 50,000,000 shares of common stock with a par value of $0.001 of which after
entering this Agreement there will be 25,929,672 issued and outstanding common
shares all fully paid and non-assesable. As of the date of this Agreement there
are no outstanding warrants or options to purchase any common shares nor are
there any pending agreements implied or otherwise to issue any additional common
shares other than as stated in Article 1 clause 1.7C of this Agreement

AND

2. 10,000,000 Preferred A shares, each Preferred A share having voting rights
equal to 3,000 common share votes for each Preferred A share held. After
entering into this Agreement there

                                                                               1
<PAGE>   2
will be 10,000 Preferred A shares issued and outstanding. No other Preferred A
shares have been issued nor are there any outstanding warrants or options to
purchase any Preferred A shares nor are there any agreements implied or
otherwise to issue any additional preferred A shares.

C. Mr. Davis is currently the President of HVI and Mrs. Murray is currently a
Director of HVI and there are no other Directors or Officers of the Corporation

D. Mr. Murray and Dr. Skinner are the Directors of INTRACELL and Mr. Murray, Mr.
Palethorpe and Dr. Skinner are the owners of all the issued share capital in
INTRACELL

E. By virtue of a License dated 5th November 1998 issued by Birmingham Research
and Development Limited on behalf of the University of Birmingham England
INTRACELL have an exclusive world-wide License to make use exercise and vend the
invention in all pharmaceutical forms and in all fields of application for the
development of an HIV vaccine and/or derivative vaccine products ("the License")

F. HVI wish to offer and INTRACELL agrees to Accept 5,750,000 common stock
shares and 10,000 preferred A Shares in exchange for the License. Both INTRACELL
and HVI agree that this stock is issued and the licence is assigned for a total
consideration of US$100,000.

G. HVI agrees to appoint Mr. Murray, Mr. Palethorpe and Dr. Skinner as Directors
of the Corporation and to enter into Stork Option Agreements based on
performance in the form of the Stock Option Agreements contained in Schedule A
for the acquisition by them of HVI stock.

NOW, THEREFORE, in consideration of the promises and the mutual and dependent
promises hereinafter contained, the parties hereto represent warrant, covenant
and agree as follows;

                                   ARTICLE-1

1.1 AGREEMENT TO CONSUMMATE TRANSACTIONS - Subject to the terms and conditions
of this Agreement INTRACELL and HVI agree to Consummate or cause to be
consummated the transactions contemplated by Sections 1.2 through 8.2 of this
Agreement ("transaction"), and agree that the consummation of each of the
transactions is conditional upon the consummation of each of the other
transactions.

1.2 Mr. Davis and Mrs. Murray jointly and severally warrant that the covenants
made by HVI are true and that following the appointment of Mr. Murray, Mr.
Palethorpe and Dr. Skinner as Directors and/or Officers of HVI, they will resign
their appointments as President, Officers and Directors of HVI without any claim
for compensation of any kind against HVI.

1.3 Mr. Murray Mr. Palethorpe and Dr. Skinner jointly and severally warrant
that the covenants made by INTRACELL are true and they agree to be appointed as
officers in HVI as hereinafter appears

                                                                               2
<PAGE>   3
1.4 BOARD OF DIRECTOR APPROVAL - HVI has submitted to its Board for approval,
the substance of this Agreement at a annual meeting of its Shareholders on March
12th 1999.

1.5 PRIOR TO CLOSING - The parties agree that upon the execution of this
Agreement to enable INTRACELL to fulfill its obligations under the License HVI
will forthwith pay to the University of Birmingham's Birmingham Research and
Development Limited Affiliate by wire transfer Fifty Thousand Pounds Sterling
(50,000.00).

1.6 CLOSING - A meeting of the parties to this Agreement ("Closing") will take
place at which time, certificates opinions letters and other documents required
by this Agreement will be delivered or exchanged. The Closing will take place by
simultaneous transfer of Assignments and Stock as soon as practicable after the
parties have obtained any required approval, and this Agreement shall be
declared effective as of the date of its signing.

1.7 AT CLOSING. The Parties shall:

A: HVI shall issue to INTRACELL five million seven hundred and fifty thousand
(5,750,000) shares restricted pursuant to "rule 144" of Common HIV-VAC capital
stock

B: HVI shall issue to INTRACELL ten-thousand (10,000) shares of HIV-VAC
Preferred Series A stock, with 3,000 for one super voting rights

C- HVI shall grant to Mr. Murray Mr. Palethorpe and Dr. Skinner common stock
options to acquire shares of Common stock based upon the performance conditions
of the Option. (Schedule A)

D. INTRACELL shall assign the world-wide license described 1.10 below to HVI

E. INTRACELL shall be responsible for any and all finder or promoters fees due
under any agreement entered into between INTRACELL and any finder or promoter.

1.8 SUBSEQUENT TO CLOSING. The Parties agree, that subsequent to closing the
following shall occur:

A - HVI shall immediately appoint Kevin W. Murray Secretary/Treasurer John
Palethorpe Vice President and Dr. Gordon Skinner President all subject to their
written consent

B - HVI shall execute employment agreements with the following:

Kevin W. Murray as Secretary-Treasurer, John Palethorpe as Vice-President and
Dr. Gordon Skinner as President

C - HVI shall undertake to offer and sell US$5,000,000, on a best efforts basis,
of capital stock on a transaction exemption which will not be integrated into
any previous Regulation D Rule 504 offering. The funds raised thereby are to be
used at the discretion of the Board Of Directors to further the research of the
INTRACELL Vaccine.

1.9 CONSUMMATION OR TRANSACTIONS - If at the Closing, no condition exists which
would permit any of the parties to terminate the Agreement or a condition then
exists and the party entitled to terminate because of that condition elects not
to do so, then and thereupon HVI will file the necessary documents required by
the State of Nevada, to reflect the acquisition of the corporate

                                                                               3
<PAGE>   4
stock by INTRACELL.

1.10 CONSIDERATION, ISSUANCE AND DELIVERY OF STOCK. As consideration to HVI for
transfer of the above described stock. INTRACELL, by virtue of an assignment to
be executed on closing in the form of the assignment in Schedule B attached
hereto and by this reference made a part hereof, shall assign exclusive
world-wide licence granted by the University of Birmingham to make, use,
exercise and vend a proprietary invention for the treatment of AIDS. The above-
described stock shall be delivered simultaneously with the assignment of the
license (See the License Agreement, attached hereto Schedule C.)

                                   ARTICLE II

REPRESENTATIONS AND WARRANTIES OF INTRACELL

INTRACELL represents and warrants to HVI that as at today and at the date of
closing, as follows

2.1 COMPANY IN GOOD STANDING - INTRACELL is a company duly organised, validly
existing and in good standing under the laws of the Isle of Man and has full
power to carry on its business as it is now being conducted

1-2 THE LICENSE - The License has been validly issued to INTRACELL and is not
subject to any liens encumbrances or security interests whatsoever. INTRACELL is
not in breach of the License save for the untimely payment of Fifty Thousand
Pounds ( 50,000.00) which HVI will pay upon execution of this Agreement. Neither
the Licensor nor the University of Birmingham have given notice of License
breach or termination and the payment of the Fifty Thousand Pounds will remedy
the breach and place the Agreement in good standing

2.3 AUTHORITY - INTRACELL has the power and authority to enter into this
Agreement and carry out the transactions contemplated hereby. The execution
delivery and performance of the Agreement by INTRACELL will have been duly and
validly authorised and adopted by INTRACELL'S Board of Director and this
Agreement will be legally binding and enforceable against INTRACELL in
accordance with its terms, subject to applicable bankruptcy, reorganisation,
insolvency, moratorium and other laws affecting creditors' rights generally from
time to time in effect and subject to principals of equity which may affect the
availability of remedies with respect thereto. To the best of its knowledge the
entering into this Agreement by INTRACELL does not, and the consummation of the
transactions contemplated by this Agreement will not violate the provisions of
(i) any applicable laws of the Isle of Man or any other jurisdiction in which
INTRACELL does business; (ii) INTRACELL'S charter, or (iii) any judgement or
decree applicable to INTRACELL subject to the obtaining of the permits,
approvals, consents authorisations and modifications referred to in Section 6.3
hereof no default or breach will occur in any material respect by virtue of the
plan of Acquisition under any material contract, agreement mortgage, indenture
or other instrument which INTRACELL is a

                                                                               4
<PAGE>   5
part or by which it is bound, and no material right of INTRACELL under any such
existing contract, agreement, mortgage, indenture or other instrument will be
extinguished by virtue of the Agreement

2.4 CHANGES IN CONDITIONS - Except as permitted or contemplated by this
Agreement or disclosed to HVI that has not been:

A - Any material adverse change in the assets (including any such change caused
by damage destruction or loss, whether or not insured), the results of
operations (including any change caused by discontinued operations), or the
business prospects or conditions, financial or otherwise of INTRACELL during the
last 180 days.

B - Any sale or transfer by INTRACELL of any material tangible asset, or any
mortgage, pledge, lease or lien, charge or encumbrance on any assets or any such
lease or real property, machinery, equipment or buildings, other than in the
ordinary course of business.

2.5 LITIGATION - Except as disclosed to HVI, there are no judicial or
administrative actions, suits, proceeding or investigations pending; or to the
best knowledge and belief of INTRACELL threatened against which might result in
any material adverse charge in the condition (financial or other), properties,
assets, business, operations or prospects of INTRACELL or in any material
liability on the part of the Company as a consequence of which the validity of
this Agreement the validity of the License, the ability of INTRACELL to assign
the License or of any action taken or to be taken in connection herewith is in
doubt or jeopardy but HVI is fully aware of the nature and extent of claims made
against INTRACELL and its shareholders by Peter Filion as disclosed in schedule
F

2.6 DISCLOSING OF MATERIAL INFORMATION - Neither this Agreement nor any Exhibit
hereto contains any untrue statement or material fact or admits to state a
material fact necessary to make the statements herein or therein not misleading
relating to the business or affairs of INTRACELL. There is no fact known to
INTRACELL which materially adversely affects the business condition (financial
or otherwise) or prospects of the Company which has not been set further herein
or disclosed to HVI

                                   ARTICLE III

REPRESENTATIONS AND WARRANTIES OF HVI

HVI represents and warrants to INTRACELL as at today and as at closing as
follows:

3.1 ORGANISATION AND GOOD STANDING - HVI is a corporation duly organised,
existing and of good standing under the laws of the State of Nevada with full
corporate power to carry on its business as it is now being conducted. HVI has
qualified as a foreign corporation to do business and is in good standing in
each jurisdiction in which the character and location of the properties owned or
leased by it or the nature of the business transacted by it makes such
qualification necessary. Copies of HVI's Articles of Incorporation, as amended,
and By-Laws, both as

                                                                               5
<PAGE>   6
presently in effect are complete and correct and a copy is included in Schedule
E. HVI is not a reporting Company under the laws of the Securities and Exchange
Commission of the United States; the common stock of HVI is quoted on the NASD
Electronic Bulletin Board (EBB) under the symbol HIVC

3.2. FUTURE STATUS - HVI is required to become a reporting Company on or before
March 1st, 2000 in order to maintain eligibility requirements for quotation on
the EBB. HVI's financial statements for the year ended 31st December 1998 have
not been finalised nor have accounts been prepared from that date to the date of
this Agreement. HVI will with all due expedition have such financial statements
and accounts prepared with no liabilities and no assets and will have the same
approved by the shareholders so soon as is practical and HVI has or will duly
file or cause to be filed all federal income tax returns and all other Federal
State County local or City Tax Returns which are required to be filed including
but not limited to income and employee taxes and HVI has paid or caused to be
paid all taxes shown on the said Returns or on any tax assessment received or
anticipated to be received by it to the extent that all taxes have become due or
has set aside on its books reserves,(segregated to the extent required by sound
accounting practice) reasonably deemed be adequate with respect thereto and HVI
has amended its Articles of Incorporation to provide for a class of Preferred
Shares authorised as series A Preferred class of shares having the powers stated
in Schedule D. HVI undertakes to increase the authorised share capital of common
shares to 100.000,000 shares of $0.001 par value.

3.3 CAPITALISATION - HVI's authorised capital stock consists of the common stock
and Preferred A shares recited in clause B of the Background

3.4 AUTHORITY - HVI has the corporate power to enter into this Agreement and to
carry out the transactions contemplated hereby. The execution, delivery and
performance of this Agreement by HVI has been duly and validly authorised and
approved by HVI's Board of Directors. Otherwise the entering into of this
Agreement by HVI does not, and the consummation by HVI and INTRACELL of the
transactions contemplated hereby, will not violate the provisions of (1) any
applicable laws of the United States or any other jurisdiction in which HVI does
business, (2) HVI's Articles of Incorporation; as amended, of its By-Laws or
(iii) any judgement or decree applicable to HVI, subject to the obtaining of HVI
approvals. consents, authorisations and modifications referred to in Sections
6.3 hereof, no default or breach will occur in any material respect by virtue of
this Agreement under any material contract mortgage, agreement indenture or
other instrument applicable to HVI and no rights of HVI under any existing
contract, agreement, mortgage, indenture or other instrument will be
extinguished by virtue of the Agreement

3.5 FINANCIAL STATEMENTS - HVI's audited financial report to 31st December 1998
and to the date of this Agreement will be true and complete in all material
respects, such having been prepared in accordance with generally accepted
accounting principles. The financial statements shall in any event be prepared
and approved by the shareholders before 30th April 1999. HVI warrants that the
results of its operations for the periods mentioned in clause 3.2 will not
disclose any change in the financial condition, properties, assets, liabilities,
business or operations of HVI

                                                                               6
<PAGE>   7
which has been, or to the best knowledge of HVI is likely to be materially
adverse with respect to HVI. As soon as practicable after consummation of the
transaction contemplated by this Agreement HVI will prepare audited consolidated
financial statements, and will update and file all necessary reports and filings
with the Securities and Exchange Commission as required. In any event any
audited financial report which is or could have been prepared prior to the date
of closure would or will disclose a situation in which save for the value of
issued capital the Corporation has neither assets or liabilities.

3.6. INDEMNITY - Lavert Davis will at closing supply a written statement and
indemnity to HIV-VAC stating that as of today HVI has no assets or liabilities,
that there are no known outstanding or contingent liabilities and that so far as
they are aware there have been no changes between today and the date of closing

3.7 ABSENCE OF CERTAIN CHANGES OF EVENTS - Since the date of HVI's financial
report ended 31st December 1998 there have not been:

A - Any material adverse change in the assets (including any such change caused
by damage, destruction, or loss, whether or not insured). The results of
operations (including any change caused by discontinued operations) or the
business prospects or condition, financial or otherwise of HVI, nor to the
knowledge of HVI, has any event or condition occurred which may result in such
change;

B - Until the date of Closing - HVI will conduct its business in the ordinary
and usual course and prior to the time of Closing, it will not, without the
written consent of INTRACELL dispose of any property, except in the regular,
ordinary course of business, declare or pay any dividends, or make any other
distribution to the shareholders, or issue or purchase any stock,

except for the results of the shareholders meeting held on 12 March 1999 where
it was resolved that the assets of Persona Records (now HVI) be exchanged for
the original shares issued for those assets.

3.8 LITIGATION - There are no judicial or administrative actions or suits of a
material nature proceedings or investigations pending or threatened against HVI
which might result in any material adverse change in the condition (financial or
other), properties, assets, business, operations or prospects of HVI or in any
material liability on the part of HVI or which question the validity of the
Agreement or of any action taken or to be taken in connection herewith. There
are no citations, fines or penalties heretofore asserted against HVI under any
federal, state or local law relating to air or water pollution, or other
environmental protection matters, or relating to occupational health or safety.

3.9 DISCLOSING OF MATERIAL INFORMATION - Neither this Agreement nor any Exhibit
hereto contains any untrue statement of material fact or admits to state a
material fact necessary to make the statement herein or therein not misleading,
relating to the business or affairs of HVI to the best knowledge and belief of
its officers and directors. There is no fact known to HVI which

                                                                               7
<PAGE>   8
materially adversely affects the business, condition (financial or otherwise) or
prospects of HVI which has not been set forth herein or otherwise disclosed to
INTRACELL and its legal Counsel

                                   ARTICLE IV

COVENANTS OF INTRACELL

INTRACELL covenants with HVI as follows:

4. AFFIRMATIVE COVENANTS - Prior to the Closing Date INTRACELL WILL do or has
done the following:

A: INTRACELL has convened a special meeting of the Board of the Company, at
which time the Board of Directors of 1NTRACELL agreed to proceed with the
Agreement and Plan of Exchange;

B: INTRACELL WILL use its best efforts to preserve its business organisation
intact, and retain the services of its officers and employee;

C: INTRACELL will promptly advise HVI in writing of any materially adverse
change in financial condition, business, operations or key personnel of
INTRACELL, any breach of its representations or warranties contained herein, and
any material contract, agreement, licence or other arrangement which if in
effect on the date of this Agreement, should have been included in this
Agreement; and

D: INTRACELL will use its best efforts to accomplish all actions necessary to
consummate the Plan of Exchange, including the satisfaction of all the
conditions set forth in this agreement.

                                    ARTICLE V

COVENANTS OF HVI

HVI covenants with Intracell as follows

5.1 NEGATIVE COVENANTS - HVI will not prior to Closing date without the prior
written consent of INTRACELL:

A; Declare any dividends payable on shares of HVI Common stock
B; Except as noted in section 3.2 split or combine or re-classify the
outstanding shares of HVI Common stock or C; Merge into or sell all or
substantially all of its assets to any person or entity

5.2 AFFIRMATIVE COVENANTS - Prior to closing date HVI will do the following:

A: HVI will reserve and promptly after closing issue and deliver the number of
shares of HVI

                                                                               8
<PAGE>   9
common stock required.

B: HVI will use its best efforts to accomplish all actions necessary to
consummate the Agreement, including satisfaction of all the conditions contained
in this agreement.

C: HVI will promptly advise INTRACELL in writing of any materially adverse
change in the financial condition, business, operations, or key personnel of HVI
any breach of its representations or warranties contained herein, and any
material contact agreement, license or other agreement which, if in effect on
the date of this agreement should have been included in the Agreement

D: HVI will afford to the officers attorneys, accountants and other authorised
representatives of INTRACELL full and free access to its properties, books, tax
returns and records in order that INTRACELL may have a full opportunity to make
such investigations as INTRACELL desires of the affairs of HVI.

                                   ARTICLE VI

Mutual Conditions

Neither HVI or INTRACELL will be obligated to complete or cause to be completed
the transaction contemplated by this agreement unless the following conditions
have been met prior to or at the Closing:

6.1: ABSENCE OF RESTRAINT - No order to restrain, enjoin or otherwise prevent
the consummation of this Agreement or the transactions contemplated herein shall
have been entered by any court of or administrative body, and no proceeding to
obtain any such order shall have been commenced or shall be threatened

6.2: ABSENCE OF TERMINATION - The obligations to consummate the transactions
contemplated hereby shall not have been cancelled pursuant to section 9.1

6.3: REQUIRED APPROVALS - HVI AND INTRACELL shall have received all such
approvals consents, authorisations or modifications as may be required to permit
the performance of HVI and INTRACELL of their respective obligations under this
Agreement and the consummations of the transactions herein contemplated (whether
for governmental authorities or other persons), and HVI and INTRACELL shall each
have received any and all permits and approvals from any regulatory authority
having jurisdiction required for the lawful consummation for the Plan of
Acquisition.

                                   ARTICLE VII

                                                                               9

<PAGE>   10
Conditions to INTRACELL's Obligations

INTRACELL shall not be obligated to complete or cause to be completed the
transactions contemplated by this Agreement unless the following conditions have
been met prior to or at the Closing

7.1 COMPLIANCE WITH REPRESENTATIONS, WARRANTIES AND COVENANTS - All of the
representations and warranties of HVI made in or pursuant to this Agreement are
true and shall be true in all material respects at and as of the Closing date,
with the same force and effect for changes contemplated or permitted by the
Agreement or otherwise approved in writing by INTRACELL; HVI shall be have
complied with and performed all of the covenants contained in this Agreement to
be performed by them at or prior to the Closing Date. Such shall be evidenced by
appropriate Schedules to be attached hereto and incorporated by reference and
certified as correct by the President of HVI.

7.2 OPINION OF COUNSEL - At its option, INTRACELL shall have received an opinion
dated at or near the Closing date from counsel for HVI that:

A: HVI is a corporation validly organised, legally existing and in good standing
under the laws of the state of Nevada, with full corporate power and authority
to own its properties and to conduct its business as it is being conducted

B. HVI shall have full corporate power to carry out the transactions
contemplated herein, this Agreement has been duly executed and delivered by HVI
and all necessary corporate action has been taken by HVI, its Board of Directors
and shareholders in order to consummate the transactions to execute and deliver
this Agreement and to make this Agreement the valid and legally binding
obligation of HVI

C: The shares of HVI common stock required to effect the Plan of Acquisition
between HVI and INTRACELL in accordance with the terms of this Agreement have
been duly and validly authorised and issued; and upon the consummation of the
transactions herein, will be fully paid and non-assessable;

D: The execution, delivery and performance of this Agreement by HVI and the
consummation of the transaction contemplated thereby will not constitute a
violation, breach or default under of conflict with HVI's Articles of
Incorporation as amended or its By-Laws, or any other Agreement or any
judgement, writ injunction or decree or any court, governmental body or
arbitrator, known to such counsel, to which HVI is a party or by which it may be
bound;

E: No consent or approval by any governmental authority which has not been
obtained is required in connection with the consummation of the Agreement.

                                                                              10

<PAGE>   11
                                  ARTICLE VIII

CONDITION TO OBLIGATIONS OF HVI

HVI shall not be obligated to complete or cause to be completed the transactions
contemplated by this Agreement unless the following conditions have been met
prior to or at the Closing:

8.1 COMPLIANCE WITH REPRESENTATIONS, WARRANTIES AND COVENANTS All of the
representations and warranties of INTRACELL contained in this Agreement and in
its Business Plan provided HVI are true and shall be true in all material
respects at and as of the Closing date. Such shall be evidenced by appropriate
Schedules attached hereto and incorporated by reference and certified as correct
by the shareholders and Directors of INTRACELL

8.2 OPINION OF COUNSEL - At its option, HVI shall have received an opinion
dated at or near the Closing date from Counsel for INTRACELL that

A-INTRACELL is a corporation duly chartered and validly existing in good
standing under the laws of the Isle of Man with corporate power and authority to
own its properties and to conduct its business as it is then being conducted,

3: INTRACELL has full corporate power to carry out the Transaction, this
Agreement has been duly executed and delivered by the Company and necessary
corporate action has been taken by INTRACELL to execute and deliver this
Agreement, and to consummate the Transactions and this Agreement is the valid
and legally binding obligation of INTRACELL subject to applicable bankruptcy,
reorganisation, insolvency, moratorium and other laws affecting creditors rights
generally from time to time in effect and subject to principles of equity which
may affect the availability of remedies. with respect thereto;

C: The execution. delivery and performance by INTRACELL of this Agreement, and
the consummation of the Transactions contemplated hereby will not constitute a
violation, breach or default under the Certificate of Incorporation or By-Laws
of the Company

D: No consent or approval by any governmental authority which has not been
obtained is required in connection with the consummation by INTRACELL of the
transactions contemplated herein.

E: To the best knowledge and information of counsel to The Company, there is no
material litigation or proceeding pending or threatened against INTRACELL
required to be disclosed under this Agreement which has not already been
disclosed to HVI

                                   ARTICLE IX

MISCELLANEOUS                                                                 11
<PAGE>   12
9.1 TERMINATION'S - This Agreement may be terminated or cancelled, and the
transactions contemplated hereby may be abandoned, notwithstanding stockholder
authorisation at any time before consummation of the Agreement:

A: By mutual consent of the Board of Directors of HVI and INTRACELL

B. By any party in the event that any of the conditions specified in Article VI
shall not have been satisfied within the time contemplated by this Agreement

C: By HVI if any of the conditions specified in Article VIII shall not have been
satisfied within the time contemplated by this Agreement, or

D - By INTRACELL if any of the conditions specified in Article VII shall not
have been satisfied within the time contemplated by this Agreement

after 60 days from the date of this agreement, if in the opinion of the board of
Directors of HVI, the Company has not raised or is not able to raise a minimum
of US$1,500,000 necessary to fund the first year of research necessary to
commence phase one trials of the AIDS vaccine as assigned under this agreement.

AND in the event of termination HVI shall forthwith:

A- Execute a Re-Assignment of the Licence in the form set out in Schedule B

B- Discontinue for all purposes representing itself as being an Assignee of the
license and

C- Deliver to INTRACELL the confidential information referred to in Article IX
clause 9.2.

9.2 RETURN OF INFORMATION - Confidentially, in the event this Agreement as
terminated or the Plan of Exchange is not consummated for any reason, HVI and
INTRACELL agree that all written information and documents supplied by either
HVI and INTRACELL to each other shall be promptly returned to the other party at
its request, and HVI and INTRACELL shall each use its best efforts to cause
confidential information to continue to be treated as confidential. INTRACELL
world-wide licence assigned hereby, shall revert to INTRACELL without any
further action on behalf of either party and HVI shall cease, forthwith and
forever, to act in any manner as owner of such license

9.3 COSTS AND EXPENSES - All costs and expenses incurred in connection with this
Agreement will be paid by the party incurring expenses. In the event of any
termination of this Agreement pursuant to Section 9.1, subject to the provisions
of 9.2, HVI and INTRACELL will each bear their own expenses

9.4 EXTENSION OF TIME WAIVERS - At anytime prior to the Closing date:

                                                                              12
<PAGE>   13
A. HVI may (1) extend the time for the performance of the obligations or other
acts of The Company, (2) waive any inaccuracies in the representations and
warranties of INTRACELL contained herein or in any document delivered pursuant
hereto by The Company and

B. INTRACELL may waiver compliance with any of the Agreements or conditions
herein to be performed by HVI

Any agreement on the part of INTRACELL to any such
waiver shall be valid only if set forth in an instrument, in writing, signed on
behalf of INTRACELL

9.5 ASSIGNABILITY - This Agreement shall inure to the benefit of and be binding
on the parties hereto and their respective successors and assigns, provided that
this Agreement my not be assigned by any Party without the prior written Consent
of the other party,

9.6 RELIANCE OF COUNSEL - In rendering any opinion referred to herein, counsel
may rely, as to any factual matters involved in their opinion, on certificates
of public officials and of corporate officers, opinions of corporate general
counsel, and such other evidence, as such counsel may reasonably deem
appropriate; and as to matters governed by laws of Jurisdictions other than the
United States or the state in which said counsel is located, an opinion of local
counsel in jurisdictions which counsel shall be satisfactory to the other
parties in the exercise of their reasonable judgement

9.7 NOTICES - Any notice to any party hereto pursuant to this Agreement shall be
given by Certified or registered mall, addressed to the then Company offices of
the Party or their address as disclosed herein

9.8 AMENDMENT - This Agreement may be amended with the approval of the Board of
Directors. of HVI and INTRACELL at any time before or after approval thereof by
the stockholders of HVI but after any such stockholder approval no Amendment
shall be made which substantially and adversely changes the terms hereof. This
Agreement may not be amended except by an instrument in writing signed on behalf
of each of the parties hereto.

9.9 ENTIRE AGREEMENT COUNTERPARTS APPLICABLE LAW - This Agreement (a)
constitutes the entire agreement and superseded all prior agreements and
understanding both written and oral among the parties with respect to the
subject matter hereof, (b) may be executed in several counterparts, each of
which will be deemed an original and all of which shall constitute one and the
same instrument (c) shall be governed in all respects, including validity,
interpretation and effect by the laws of the State of Nevada and (d) facsimile
transmitted signatures will be deemed valid as though they were originals and
the parties may perform any and all obligations and duties on reliance on the
facsimile copies

9.10 TITLES - The Titles and capitals of the Sections and paragraphs of this
Agreement are included for convenience of reference and shall have no effect on
the constructions or meaning of this Agreement

                                                                              13
<PAGE>   14
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the
date first above written.

HIV-VAC INC.
/s/ Lavert Davies                               /s/ Felicia Murray
------------------------                        ------------------------
Lavert Davies, President                        Felicia Murray, Director

INTRACELL VACCINES LTD

/s/ Gordon Skinner
----------------------------
Gordon Skinner for Intracell

/s/ John Palethorpe                /s/ Kevin Murray        /s/ Gordon Skinner
----------------------------       -------------------     ------------------
John Palethorpe                    Kevin Murray            Gordon Skinner

                                                                              14

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