Common use of Additional Investments Clause in Contracts

Additional Investments. (a) On or before January 14, 2003 the Registered Holder has the option but is not obligated to make an Additional Investment of up to $1,000,000 at a Purchase Price of $3.50 per share ("Additional Investment"). Upon closing, fifty percent (50%) of the Warrant Deposit shall be credited against the purchase price payable for the shares. In CUSIP No. 296744 10 5 13D/A Page 81 of 89 the event the Registered Holder does not exercise its rights to purchase 100% of the shares available pursuant to this Warrant on a timely basis, the Registered Holder shall be deemed to have exercised the 90 Day Warrant to purchase shares at the $3.50 share price, as adjusted in accordance with Section 2(c) below, and 50% of the Warrant Deposit shall be applied in full satisfaction of the purchase price payable for such shares. (b) Notwithstanding paragraph 2(a), if the Registered Holder makes an additional investment that is received by the Company within thirty (30) calendar days of the issuance date of this Warrant, the Purchase Price for such additional investment shall be $3.00. (c) In the event that, on the day prior to a designated closing date for exercise of the Warrant, the 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB shall fall below the designated price as set forth above, the Purchase Price for the exercise of the Warrant shall be recalculated as follows: a 15% discount from 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB from and including the day before the designated closing date, but not less than $3.00 per share.

Additional Investments. (a) On or before January 14December 15, 2003 2002 the Registered Holder has the option but is not obligated to make an Additional Investment of up to $1,000,000 at a Purchase Price of $3.50 3.25 per share ("Additional Investment"). Upon closing, fifty percent (50%) of the Warrant Deposit shall be credited against the purchase price payable for the shares. In CUSIP No. 296744 10 5 13D/A Page 81 of 89 the event the Registered Holder does not exercise its rights to purchase 100% of the shares available pursuant to this Warrant on a timely basis, the Registered Holder shall be deemed to have exercised the 90 60 Day Warrant to purchase shares at the $3.50 3.25 share price, as adjusted in accordance with Section 2(c) below, and 50% of the Warrant Deposit shall be applied in full satisfaction of the purchase price payable for such shares. (b) Notwithstanding paragraph 2(a), if the Registered Holder makes an additional investment that is received by the Company within thirty (30) calendar days of the issuance date of this Warrant, the Purchase Price for such additional investment shall be $3.00. (c) In the event that, on the day prior to a designated closing date for exercise of the Warrant, the 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB shall fall below the designated price as set forth above, the Purchase Price for the exercise of the Warrant shall be recalculated as follows: a 15% discount from 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB from and including the day before the designated closing date, but not less than $3.00 per share.

Additional Investments. (a) On or before January 14, 2003 the Registered Holder has the option but is not obligated to make an Additional Investment of up to $1,000,000 at a Purchase Price of $3.50 per share ("Additional Investment"). Upon closing, fifty percent (50%) of the Warrant Deposit shall be credited against the purchase price payable for the shares. In CUSIP No. 296744 10 5 13D/A Page 81 of 89 the event the Registered Holder does not exercise its rights to purchase 100% of the shares available pursuant to this Warrant on a timely basis, the Registered Holder shall be deemed to have exercised the 90 Day Warrant to purchase shares at the $3.50 share price, as adjusted in accordance with Section 2(c) below, and 50% of the Warrant Deposit shall be applied in full satisfaction of the purchase price payable for such shares. (b) Notwithstanding paragraph 2(a), if the Registered Holder makes an additional investment that is received by the Company within thirty (30) calendar days of the issuance date of this Warrant, the Purchase Price for such additional investment shall be $3.00. (c) In the event that, on the day prior to a designated closing date for exercise of the Warrant, the 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB shall fall below the designated price as set forth above, the Purchase Price for the exercise of the Warrant shall be recalculated as follows: a 15% discount from 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB from and including the day before the designated closing date, but not less than $3.00 per share.

Additional Investments. (a) On or before January 14December 15, 2003 2002 the Registered Holder has the option but is not obligated to make an Additional Investment of up to $1,000,000 at a Purchase Price of $3.50 3.25 per share ("Additional Investment"). Upon closing, fifty percent (50%) of the Warrant Deposit shall be credited against the purchase price payable for the shares. In CUSIP No. 296744 10 5 13D/A Page 81 of 89 the event the Registered Holder does not exercise its rights to purchase 100% of the shares available pursuant to this Warrant on a timely basis, the Registered Holder shall be deemed to CUSIP No. 296744 10 5 13D/A Page 71 of 89 have exercised the 90 60 Day Warrant to purchase shares at the $3.50 3.25 share price, as adjusted in accordance with Section 2(c) below, and 50% of the Warrant Deposit shall be applied in full satisfaction of the purchase price payable for such shares. (b) Notwithstanding paragraph 2(a), if the Registered Holder makes an additional investment that is received by the Company within thirty (30) calendar days of the issuance date of this Warrant, the Purchase Price for such additional investment shall be $3.00. (c) In the event that, on the day prior to a designated closing date for exercise of the Warrant, the 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB shall fall below the designated price as set forth above, the Purchase Price for the exercise of the Warrant shall be recalculated as follows: a 15% discount from 15 trading day trailing weighted moving closing price average of the Essex common stock on the OTCBB from and including the day before the designated closing date, but not less than $3.00 per share.