INVISION TECHNOLOGIES INC
EX-10.48
<DOCUMENT>
<TYPE>EX-10.48
<SEQUENCE>7
<FILENAME>j2271_ex10d48.htm
<DESCRIPTION>EX-10.48
<TEXT>
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<title>Prepared by MERRILL CORPORATION</title>



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<p align="right" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in .25in 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">Exhibit

10.48</font></font></b></p>



<p align="left" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in .25in 12.0pt;text-align:left;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">THE WARRANT EVIDENCED OR

CONSTITUTED HEREBY, AND ALL SHARES OF THE COMPANY&#146;S COMMON STOCK ISSUABLE

HEREUNDER, HAVE BEEN AND WILL BE ISSUED WITHOUT REGISTRATION UNDER THE

SECURITIES ACT OF 1933, AS AMENDED (&#147;THE ACT&#148;) AND MAY NOT BE SOLD, OFFERED FOR

SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED WITHOUT REGISTRATION UNDER THE ACT

UNLESS EITHER (i) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND

SUBSTANCE SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT REGISTRATION IS NOT

REQUIRED IN CONNECTION WITH SUCH DISPOSITION OR (ii) THE SALE OF SUCH

SECURITIES IS MADE PURSUANT TO SECURITIES AND EXCHANGE COMMISSION RULE 144.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;font-weight:bold;margin:0in 0in 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">WARRANT TO PURCHASE

COMMON STOCK<br>

OF INVISION TECHNOLOGIES, INC.</font></font></b></p>



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  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><a name="Table"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;text-transform:uppercase;">Warrant No. CSW-2001-1</font></font></a></p>

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  <p align="right" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;text-transform:uppercase;">Issue Date: </font></font><font size="2"><font style="font-size:10.0pt;">&#160;September 26, 2001</font></font></p>

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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></font></b></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">THIS

CERTIFIES THAT</font></font></b><font size="2"><font style="font-size:10.0pt;">,

for good and valuable consideration received, <b><font style="font-weight:bold;">Donald &amp; Co. Securities Inc.</font></b>,

or permitted registered assigns (&#147;<i><font style="font-style:italic;">Holder</font></i>&#148;), is entitled, subject to the

terms and conditions of this Warrant, at any time or from time to time before

the first to occur of (i) 5:00 p.m. Pacific Time on September 25, 2006 and (ii)

the closing of a Sale of the Company (such earlier date, the &#147;<i><font style="font-style:italic;">Expiration

Date</font></i>&#148;), to purchase from <b><font style="font-weight:bold;">InVision Technologies Inc.</font></b>, a Delaware

corporation (the &#147;<i><font style="font-style:italic;">Company</font></i>&#148;), up to One Hundred Thousand (100,000) shares of

Common Stock of the Company, $.001 par value (&#147;<i><font style="font-style:italic;">Common Stock</font></i>&#148;), as more

fully described below, at a price per share equal to $9.95 (the &#147;<i><font style="font-style:italic;">Exercise

Price</font></i>&#148;).&#160; Both the number of

shares of Common Stock purchasable upon exercise of this Warrant and the

Exercise Price are subject to change as provided herein.</font></font></p>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CERTAIN DEFINITIONS</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

As used in this Warrant the following terms shall have the following

respective meanings:</font></font></h1>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&#147;<u>Fair Market Value</u>&#148; of a share of Common Stock

as of a particular date shall mean:</font></font></p>



<h3 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:1.0in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If

traded on a securities exchange or The Nasdaq National Market, the Fair Market

Value shall be deemed to be the average of the closing prices of the Common

Stock of the Company on such exchange or market over the 5 business days ending

immediately prior to the applicable date of valuation;</font></font></h3>



<h3 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:1.0in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If

actively traded over-the-counter, but not on The Nasdaq National Market, the

Fair Market Value shall be deemed to be the average of the closing bid prices

over the 30-day period ending immediately prior to the applicable date of

valuation; and</font></font></h3>



<h3 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:1.0in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If

there is no active public market, the Fair Market Value shall be the value

thereof, as determined in good faith by the Board of Directors of the Company

upon due consideration of the proposed determination thereof of the Holder.</font></font></h3>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&#147;<u>Registered Holder</u>&#148; shall mean any Holder in

whose name this Warrant is registered upon the books and records maintained by

the Company.</font></font></p>



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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&#147;<u>Sale of the Company</u>&#148; shall mean (a) the

acquisition of the Company by another entity by means of any transaction or

series of related transactions (including, without limitation, any

reorganization, merger or consolidation) that results in the stockholders of

the Company immediately prior to such transaction or transactions owning less

that fifty percent (50%) or more of the outstanding voting power of the Company

or surviving entity following such transaction or transactions; or (b) a sale

of all or substantially all of the assets of the Company.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&#147;<u>Warrant</u>&#148; as used herein, shall include this

Warrant and any warrant delivered in substitution or exchange therefor as

provided herein.</font></font></p>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EXERCISE OF WARRANT</font></font></b><font size="2"><font style="font-size:10.0pt;">.</font></font></h1>



<h2 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">2.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment</u>.&#160; Subject to compliance with the terms and

conditions of this Warrant and applicable securities laws, this Warrant may be

exercised, in whole or in part at any time or from time to time on or before

the Expiration Date (the &#147;<i><font style="font-style:italic;">Exercise Period</font></i>&#148;) by surrendering this

Warrant at the principal office of the Company together with:</font></font></h2>



<h3 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:1.0in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the

form of Notice of Exercise attached hereto as <i><font style="font-style:italic;">Exhibit 1</font></i> (the &#147;<i><font style="font-style:italic;">Notice of

Exercise</font></i>&#148;), duly executed by the Holder, and</font></font></h3>



<h3 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:1.0in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; payment,

(i) in cash (by check) or by wire transfer, (ii) by cancellation by the Holder

of indebtedness of the Company to the Holder; or (iii) by a combination of (i)

and (ii), of an amount equal to the product obtained by multiplying the number

of shares of Common Stock being purchased upon such exercise by the then

effective Exercise Price&#160; (the &#147;<i><font style="font-style:italic;">Exercise

Amount</font></i>&#148;).</font></font></h3>



<h2 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">2.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Net

Issue Exercise</u>.&#160; In lieu of the

payment methods set forth in Section 2.1(b) above, the Holder may elect to

exchange all or some of the Warrant for shares of Common Stock equal to the

value of the amount of the Warrant being exchanged on the date of

exchange.&#160; If Holder elects to exchange

this Warrant as provided in this Section 2.2, Holder shall tender to the

Company the Warrant for the amount being exchanged, along with the Notice of

Exercise, duly executed by the Holder, specifying the Holder&#146;s election to

exchange some or all of the Warrant, and the Company shall issue to Holder the

number of shares of the Common Stock computed using the following formula:</font></font></h2>



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  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">X =</font></font></p>

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  <p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Y</font></font></p>

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  <p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;letter-spacing:.9pt;">(A-B</font></font><font size="2"><font style="font-size:10.0pt;letter-spacing:.05pt;">)</font></font></p>

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  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

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  <p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

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  <td width="59%" nowrap height="15" valign="top" style="border:none;height:11.6pt;padding:0in 0in 0in 0in;text-fit:100%;width:59.1%;">

  <p align="center" style="font-family:'Times New Roman';font-size:10.0pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">A</font></font></p>

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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt 1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Where X = the number of shares of Common Stock to be issued to Holder.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt 1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Y = the number of shares of Common Stock purchasable under the amount

of the Warrant being exchanged (as adjusted to the date of such calculation).</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt 1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">A = the Fair Market Value of one share of the Company&#146;s Common Stock.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt 1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">B = Exercise Price (as adjusted to the date of such calculation).</font></font></p>



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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">All references herein to an &#147;exercise&#148; of the Warrant

shall include an exchange pursuant to this Section 2.2.</font></font></p>



<h2 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">2.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Stock

Certificates; Fractional Shares</u>.&#160; As

soon as practicable on or after the date this Warrant is exercised, the Company

shall issue and deliver to the person or persons entitled to receive the same a

certificate or certificates for the number of whole shares of Common Stock

issuable upon such exercise, together with cash in lieu of any fraction of a

share equal to such fraction of the current Fair Market Value of one whole

share of Common Stock as of the date of exercise of this Warrant.&#160; No fractional shares or scrip representing

fractional shares shall be issued upon an exercise of this Warrant.</font></font></h2>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">2.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Partial

Exercise; Effective Date of Exercise</u>.&#160;

In case of any partial exercise of this Warrant, the Company shall

cancel this Warrant upon surrender hereof and shall execute and deliver a new

Warrant of like tenor and date for the balance of the shares of Common Stock

purchasable hereunder.&#160; This Warrant

shall be deemed to have been exercised immediately prior to the close of

business on the date of its surrender for exercise as provided above.&#160; The person entitled to receive the shares of

Common Stock issuable upon exercise of this Warrant shall be treated for all

purposes as the holder of record of such shares as of the close of business on

the date the Holder is deemed to have exercised this Warrant.</font></font></p>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; VALID ISSUANCE:&#160; TAXES</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160; All shares

of Common Stock issued upon the exercise of this Warrant shall be validly

issued, fully paid and non-assessable, and the Company shall pay all taxes and

other governmental charges that may be imposed in respect of the issue or

delivery thereof.&#160; The Company shall not

be required to pay any tax or other charge imposed in connection with any

transfer involved in the issuance of any certificate for shares of Common Stock

in any name other than that of the Registered Holder of this Warrant, and in

such case the Company shall not be required to issue or deliver any stock

certificate or security until such tax or other charge has been paid, or it has

been established to the Company&#146;s reasonable satisfaction that no tax or other

charge is due.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; LOSS OR MUTILATION</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

Upon receipt of evidence reasonably satisfactory to the Company of the

ownership of and the loss, theft, destruction or mutilation of this Warrant,

and of indemnity reasonably satisfactory to it, and (in the case of mutilation)

upon surrender and cancellation of this Warrant, the Company will execute and

deliver in lieu thereof a new Warrant of like tenor as the lost, stolen,

destroyed or mutilated Warrant.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ADJUSTMENTS</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

If the Company shall at any time prior to the expiration of this Warrant

subdivide its Common Stock, by split-up or otherwise, or combine its Common

Stock, or issue additional securities as a dividend with respect to any shares

of its Common Stock, the number of shares of Common Stock issuable on the

exercise of this Warrant shall forthwith be proportionately increased in the

case of a subdivision or stock dividend, or proportionately decreased in the

case of a combination.&#160; Appropriate

adjustments shall also be made to the exercise price payable per share, but the

aggregate purchase price payable for the total number of shares of Common Stock

purchasable under this Warrant (as adjusted) shall remain the same.&#160; Any adjustment under this Section 5 shall

become effective at the close of business on the date the subdivision or

combination becomes effective, or as of the record date of such dividend, or in

the event that no record date is fixed, upon the making of such dividend.</font></font></h1>



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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">In the event of changes in the outstanding Common

Stock by reason of recapitalizations, reclassifications, combinations or

exchanges of shares, separations, reorganizations, liquidations, or the like as

to which the provisions of the previous paragraph do not apply, the number and

class of shares of Common Stock available under the Warrant in the aggregate

and the Exercise Price shall be correspondingly adjusted to give the Holder of

the Warrant, on exercise for the same aggregate Exercise Price, the total

number, class, and kind of shares as the Holder would have owned had the

Warrant been exercised prior to the event and had the Holder continued to hold

such shares until after the event requiring adjustment.&#160; The form of this Warrant need not be changed

because of any adjustment in the number of shares of Common Stock subject to

this Warrant.</font></font></p>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; RESERVATION OF STOCK</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

The Company hereby covenants that at all times there shall be reserved

for issuance and delivery upon exercise of this Warrant such number of shares

of Common Stock as are from time to time issuable upon exercise of this Warrant

and, from time to time as necessary, will take all steps necessary to amend its

Certificate of Incorporation to provide sufficient reserves of shares of Common

Stock issuable upon exercise of this Warrant.&#160;

All such shares shall be duly authorized, and when issued upon such

exercise, shall be validly issued, fully paid and non-assessable, free and

clear of all liens, security interests, charges and other encumbrances or

restrictions on sale and free and clear of all preemptive rights, except

encumbrances or restrictions arising under federal or state securities laws.

Issuance of this Warrant shall constitute full authority to the Company&#146;s

officers who are charged with the duty of executing stock certificates to

execute and issue the necessary certificates for shares of Common Stock upon

the exercise of this Warrant.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TRANSFER AND EXCHANGE</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

Subject to the terms and conditions of this Warrant and compliance with

all applicable securities laws, this Warrant and all rights hereunder may be

transferred to any Registered Holder&#146;s parent, subsidiary or affiliate, in

whole or in part, on the books of the Company maintained for such purpose at

the principal office of the Company referred to above, by the Registered Holder

hereof in person, or by duly authorized attorney, upon surrender of this

Warrant properly endorsed and upon payment of any necessary transfer tax or

other governmental charge imposed upon such transfer.&#160; Upon any permitted partial transfer, the Company will issue and

deliver to the Registered Holder a new Warrant or Warrants with respect to the

shares of Common Stock not so transferred.&#160;

Each taker and holder of this Warrant, by taking or holding the same,

consents and agrees that when this Warrant shall have been so endorsed, the

person in possession of this Warrant may be treated by the Company, and all

other persons dealing with this Warrant, as the absolute owner hereof for any

purpose and as the person entitled to exercise the rights represented hereby,

any notice to the contrary notwithstanding; provided, however that until a

transfer of this Warrant is duly registered on the books of the Company, the

Company may treat the Registered Holder hereof as the owner for all purposes.</font></font></h1>



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<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; RESTRICTIONS ON

TRANSFER</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160; The Holder, by acceptance hereof, agrees

that, absent an effective registration statement filed with the United States

Securities and Exchange Commission under the Securities Act of 1933, as amended

(the &#147;<i><font style="font-style:italic;">1933

Act</font></i>&#148;), covering the disposition or sale of this Warrant or the

Common Stock issued or issuable upon exercise hereof, as the case may be, and

registration or qualification under applicable state securities laws, such

Holder will not sell, transfer, pledge, or hypothecate any or all such Warrant

or Common Stock, as the case may be, unless either (a) the Company has received

an opinion of counsel, in form and substance satisfactory to the Company, to

the effect that such registration is not required in connection with such

disposition or (b) the sale of such securities is made pursuant to Rule 144

under the 1933 Act.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; COMPLIANCE WITH

SECURITIES LAWS</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160; By acceptance of this Warrant, the Holder

hereby represents, warrants and covenants that any shares of stock acquired

upon exercise of this Warrant shall be acquired for investment only and not

with a view to, or for sale in connection with, any distribution thereof; that

the Holder has had such opportunity as such Holder has deemed adequate to

obtain from representatives of the Company such information as is necessary to

permit the Holder to evaluate the merits and risks of its investment in the

Company; that the Holder is able to bear the economic risk of holding such

shares as may be acquired pursuant to the exercise of this Warrant for an

indefinite period; that the Holder is an accredited investor as defined in Rule

501(a) of Regulation D promulgated under the 1933 Act; that the Holder

understands that the shares of stock acquired pursuant to the exercise of this

Warrant will not be registered under the 1933 Act (unless otherwise required

pursuant to exercise by the Holder of the registration rights, if any,

previously granted to the registered Holder) and will be &#147;restricted

securities&#148; within the meaning of Rule 144 under the 1933 Act and that the

exemption from registration under Rule 144 will not be available for at least

one year from the date of exercise of this Warrant and even then will not be

available unless a public market then exists for the stock, adequate

information concerning the Company is then available to the public, and other

terms and conditions of Rule 144 are complied with; and that all stock

certificates representing shares of stock issued to the Holder upon exercise of

this Warrant may have affixed thereto a legend substantially in the following

form:</font></font></h1>



<p align="left" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 45.0pt 12.0pt 40.5pt;text-align:left;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">THE SECURITIES

REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,

AS AMENDED (THE &#147;ACT&#148;), OR UNDER THE SECURITIES LAWS OF ANY STATE.&#160; THESE SECURITIES ARE SUBJECT TO RESTRICTIONS

ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS

PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO

REGISTRATION OR EXEMPTION THEREFROM.&#160; INVESTORS

SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS

INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.&#160;

THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM

AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED

TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE

SECURITIES LAWS.</font></font></p>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NO RIGHTS OR

LIABILITIES AS STOCKHOLDER</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160; This Warrant

shall not entitle the Holder to any voting rights or other rights as a

stockholder of the Company.&#160; In the

absence of affirmative action by such Holder to purchase Common Stock by

exercise of this Warrant, no provisions of this Warrant, and no enumeration

herein of the rights or privileges of the Holder hereof, shall cause such

Holder hereof to be a stockholder of the Company for any purpose.</font></font></h1>



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<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NOTICES</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

Except as may be otherwise provided herein, all notices and other

communications required or permitted hereunder shall be in writing and shall be

conclusively deemed to have been duly given to a party (a) when hand delivered

to that party; (b) when received when sent by facsimile at that party&#146;s address

and number set forth below (provided, however, that notices given by facsimile

shall not be effective unless either (i) a duplicate copy of such facsimile

notice is promptly given by one of the other methods described in this Section

11, or (ii) the receiving party delivers a written confirmation of receipt for

such notice either by facsimile or any other method described in this Section 11;

(c) five business days after deposit in the U.S. or Canadian mail, as the case

may be with first class or certified mail receipt requested postage prepaid and

addressed to the other party as set forth below; or (d) the next business day

after deposit with a international overnight delivery service, postage prepaid,

addressed to that party as set forth below with next-business-day delivery

guaranteed, provided that the sending party receives a confirmation of delivery

from the delivery service provider.</font></font></h1>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.16%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">To the

  Holder:</font></font></b></p>

  </td>

  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.8%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.04%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">To the

  Company:</font></font></b></p>

  </td>

 </tr>

 <tr>

  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.16%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Donald &amp; Co. Securities Inc.<br>

  Park Avenue Towers<br>

  65 E. 55<sup>th</sup> Street <br>

  12<sup>th</sup> Floor<br>

  New York, NY&#160; 10022<br>

  Attn: Stephen Blum<br>

  Fax:&#160; (212) 832-6759</font></font></p>

  </td>

  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.8%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.04%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">InVision Technologies Inc.<br>

  7151 Gateway Boulevard<br>

  Newark, California 94560<br>

  Attn:&#160; President<br>&#160;Fax:&#160;

  (510) 608-0770</font></font></p>

  </td>

 </tr>

</table>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; HEADINGS</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

The headings in this Warrant are for purposes of convenience in

reference only, and shall not be deemed to constitute a part hereof.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; LAW GOVERNING</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

This Warrant shall be construed and enforced in accordance with, and

governed by, the laws of the State of California.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NOTICES OF RECORD DATE</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

In case:</font></font></h1>



<h2 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">14.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the

Company shall take a record of the holders of its Common Stock (or such stock

or securities as at the time are receivable upon the exercise of this Warrant)

for the purpose of entitling them to receive any dividend or other

distribution, or any right to subscribe for or purchase any shares of stock of

any class or any other securities or to receive any other right;</font></font></h2>



<h2 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">14.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; of

any consolidation or merger of the Company with or into another corporation,

any capital reorganization of the Company, any reclassification of the capital

stock of the Company, or any conveyance of all or substantially all of the

assets of the Company to another corporation in which holders of the Company&#146;s

stock are to receive stock, securities or property of another corporation; or</font></font></h2>



<h2 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;">14.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; of

any voluntary dissolution, liquidation or winding-up of the Company;</font></font></h2>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">then, and in each such case, the Company will mail or

cause to be mailed to the Registered Holder of this Warrant a notice

specifying, as the case may be, (a) the date on which a record is to be taken

for the purpose of such dividend, distribution or right, or (b) the date on

which such reorganization, reclassification, consolidation, merger, conveyance,

dissolution, liquidation or&#160; winding-up

is to take place, and the time, if any is to be fixed, as of which the holders

of record of Common Stock (or such stock or securities as at the time are

receivable upon the exercise of this Warrant), shall be entitled to exchange

their shares of Common Stock (or such other stock or securities), for

securities or other property deliverable upon such reorganization,

reclassification, consolidation, merger, conveyance, dissolution, liquidation or

winding-up.&#160; Such notice shall be

delivered at least thirty (30) days prior to the date therein specified.</font></font></p>



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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SEVERABILITY</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

If any term, provision, covenant or restriction of this Warrant is held

by a court of competent jurisdiction to be invalid, void or unenforceable, the

remainder of the terms, provisions, covenants and restrictions of this Warrant

shall remain in full force and effect and shall in no way be affected, impaired

or invalidated.</font></font></p>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; COUNTERPARTS</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

In the convenience of the parties, any number of counterparts of this

Warrant may be executed by the parties hereto and each such executed

counterpart shall be, and shall be deemed to be, an original instrument.</font></font></h1>



<h1 style="color:black;font-family:'Times New Roman';font-size:12.0pt;font-weight:normal;margin:0in 0in 12.0pt;text-indent:0in;"><b><font size="2" color="black" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SATURDAYS, SUNDAYS AND

HOLIDAYS</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160; If the Expiration Date falls on a Saturday,

Sunday or legal holiday, the Expiration Date shall automatically be extended

until 5:00 p.m. the next business day.</font></font></h1>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NO IMPAIRMENT</font></font></b><font size="2"><font style="font-size:10.0pt;">.&#160;

Except and to the extent as waived or consented to by the Holder, the

Company will not, by amendment of its Certificate of Incorporation or through

any reorganization, transfer of assets, consolidation, merger, dissolution,

issue or sale of securities or any other voluntary action, avoid or seek to

avoid the observance or performance of any of the terms to be observed or performed

hereunder by the Company, but will at all times in good faith assist in the

carrying out of all the provisions of this Warrant and in the taking of all

such action as may be necessary or appropriate in order to protect the exercise

rights of the Holder against impairment.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">[<i><font style="font-style:italic;">Remainder of

Page Intentionally Left Blank</font></i>]</font></font></p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-indent:.5in;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">IN

WITNESS WHEREOF</font></font></b><font size="2"><font style="font-size:10.0pt;">,

the Company and the Holder have executed this Warrant as of September 26, 2001.</font></font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">InVision Technologies Inc.</font></font></b></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">a Delaware corporation</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="5%" valign="top" style="padding:0in .7pt .7pt .7pt;width:5.54%;">

  <p style="font-family:'Times New Roman';font-size:10.0pt;line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">By:</font></font></p>

  </td>

  <td width="44%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt .7pt .7pt;width:44.46%;">

  <p style="font-family:'Times New Roman';font-size:10.0pt;line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">/s/ Sergio Magistri</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="5%" valign="top" style="padding:0in .7pt .7pt .7pt;width:5.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;">&nbsp;</p>

  </td>

  <td width="44%" valign="top" style="padding:0in .7pt .7pt .7pt;width:44.46%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Sergio Magistri</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="5%" valign="top" style="padding:0in .7pt .7pt .7pt;width:5.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;">&nbsp;</p>

  </td>

  <td width="44%" valign="top" style="padding:0in .7pt .7pt .7pt;width:44.46%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">President and Chief Executive

  Officer</font></font></i></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">Donald &amp; Co. Securities Inc.</font></font></b></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="5%" valign="top" style="padding:0in .7pt .7pt .7pt;width:5.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">By:</font></font></p>

  </td>

  <td width="44%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt .7pt .7pt;width:44.46%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">/s/ Stephen Blum</font></font></p>

  </td>

 </tr>

</table>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<font size="2" face="Times New Roman"><font style="font-family:'Times New Roman';font-size:10.0pt;">
<!-- SEQ.=1 -->
<br clear="all" style="page-break-before:always;">

</font></font>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 24.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">EXHIBIT 1</font></font></u></b></p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">NOTICE OF EXERCISE</font></font></b></p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">(To be executed upon exercise of

Warrant)</font></font></i></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">InVision Technologies Inc.</font></font></b></p>

  </td>

  <td width="50%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p align="right" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;text-transform:uppercase;">Warrant

  No. CSW-2001-1</font></font></p>

  </td>

 </tr>

</table>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">The undersigned hereby

reaffirms the statements made in Section 9 of the Warrant Certificate, and

irrevocably elects to exercise the right of purchase represented by the within

Warrant Certificate for, and to purchase thereunder, the securities of <b><font style="font-weight:bold;text-transform:uppercase;">InVision Technologies Inc.</font></b> as provided for

therein, and (check the applicable box):</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt .5in;text-indent:-.5in;"><font size="3" face="Times New Roman"><font style="font-size:12.0pt;">&#149;</font></font><font size="2"><font style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Tenders

herewith payment of the exercise price in full in the form of cash or check in

the amount of $____________ for _________ such securities.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt .5in;text-indent:-.5in;"><font size="3" face="Times New Roman"><font style="font-size:12.0pt;">&#149;</font></font><font size="2"><font style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Elects

the Net Issue Exercise option pursuant to Section 2.2 of the Warrant, and

accordingly requests delivery of a net of ______________ of such securities.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 24.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Please issue a

certificate or certificates for such securities in the name of, and pay any

cash for any fractional share to (please print name, address and social

security number):</font></font></p>



<table border="0" cellspacing="0" cellpadding="0" width="50%" style="border-collapse:collapse;width:50.0%;">

 <tr>

  <td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Name:</font></font></p>

  </td>

  <td width="278" valign="top" style="padding:0in 0in 0in 0in;width:208.2pt;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">________________________________________</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Address:</font></font></p>

  </td>

  <td width="278" valign="top" style="padding:0in 0in 0in 0in;width:208.2pt;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">________________________________________</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Signature:</font></font></p>

  </td>

  <td width="278" valign="top" style="padding:0in 0in 0in 0in;width:208.2pt;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">________________________________________</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Dated:</font></font></p>

  </td>

  <td width="278" valign="top" style="padding:0in 0in 0in 0in;width:208.2pt;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">________________________________________</font></font></p>

  </td>

 </tr>

</table>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">&nbsp;</font></font></i></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">Note</font></font></i><font size="2"><font style="font-size:10.0pt;">:&#160; The above signature should

correspond exactly with the name on the first page of this Warrant Certificate

or with the name of the assignee appearing in the assignment form below.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">If said number of shares shall not be all the shares purchasable under

the within Warrant Certificate, a new Warrant Certificate is to be issued in

the name of said undersigned for the balance remaining of the shares

purchasable thereunder rounded up to the next higher whole number of shares.</font></font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">Donald

  &amp; Co. Securities Inc.</font></font></b></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">By:&#160;&#160;&#160;

  ________________________________________________</font></font></p>

  </td>

 </tr>

 <tr>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="50%" valign="top" style="padding:0in .7pt .7pt .7pt;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

</table>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<b><u><font size="2" face="Times New Roman"><font style="font-family:'Times New Roman';font-size:10.0pt;font-weight:bold;">
<!-- SEQ.=1 -->
<br clear="all" style="page-break-before:always;">

</font></font></u></b>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">EXHIBIT 2</font></font></u></b></p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">ASSIGNMENT</font></font></b></p>



<p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 24.0pt;text-align:center;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">(To be executed only upon assignment

of Warrant Certificate)</font></font></i></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">InVision Technologies Inc.</font></font></b></p>

  </td>

  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">

  <p align="right" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;text-transform:uppercase;">Warrant

  No. CSW-2001-1</font></font></p>

  </td>

 </tr>

</table>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">For value received,

__________ hereby sells, assigns and transfers unto ____________________ the

within Warrant Certificate, together with all right, title and interest

therein, and does hereby irrevocably constitute and appoint

____________________________ attorney, to transfer said Warrant Certificate on

the books of the within-named Company with respect to the number of Warrants

set forth below, with full power of substitution in the premises:</font></font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">

 <tr>

  <td width="42%" valign="top" style="padding:0in .7pt .7pt .7pt;width:42.96%;">

  <p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">Name(s) of

  Assignee(s)</font></font></b></p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt .7pt .7pt;width:19.32%;">

  <p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;">Address</font></font></b></p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" valign="top" style="padding:0in .7pt .7pt .7pt;width:30.66%;">

  <p align="center" style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;text-transform:uppercase;"># Of

  Warrants</font></font></b></p>

  </td>

 </tr>

 <tr>

  <td width="42%" valign="top" style="padding:0in .7pt .7pt .7pt;width:42.96%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt .7pt .7pt;width:19.32%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" valign="top" style="padding:0in .7pt .7pt .7pt;width:30.66%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="42%" valign="top" style="padding:0in .7pt .7pt .7pt;width:42.96%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt .7pt .7pt;width:19.32%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" valign="top" style="padding:0in .7pt .7pt .7pt;width:30.66%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="42%" valign="top" style="padding:0in .7pt .7pt .7pt;width:42.96%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt .7pt .7pt;width:19.32%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" valign="top" style="padding:0in .7pt .7pt .7pt;width:30.66%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="42%" valign="top" style="padding:0in .7pt .7pt .7pt;width:42.96%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt .7pt .7pt;width:19.32%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" valign="top" style="padding:0in .7pt .7pt .7pt;width:30.66%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="42%" valign="top" style="padding:0in .7pt .7pt .7pt;width:42.96%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="19%" valign="top" style="padding:0in .7pt .7pt .7pt;width:19.32%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="3%" valign="bottom" style="padding:0in .7pt .7pt .7pt;width:3.54%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

  <td width="30%" valign="top" style="padding:0in .7pt .7pt .7pt;width:30.66%;">

  <p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

  </td>

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<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">And if said number of

Warrants shall not be all the Warrants represented by the Warrant Certificate,

a new Warrant Certificate is to be issued in the name of said undersigned for

the balance remaining of the Warrants registered by said Warrant Certificate.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Dated:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Signature:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">Notice</font></font></i><font size="2"><font style="font-size:10.0pt;">:&#160;

The signature to the foregoing Assignment must correspond to the name as

written upon the face of this security in every particular.</font></font></p>



<p style="font-family:'Times New Roman';font-size:12.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">&nbsp;</font></font></p>



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