SHARETRANSFERAGREEMENTAUGUST17,2001================================================================================<PAGE>2TABLEOFCONTENTS<TABLE><CAPTION>PAGE----<S><C>Section1PurchaseandSaleofStock.............................................................21.1SaleofStock.....................................................................21.2SaleofInvestmentBankingWarrants...............................................21.3Closing...........................................................................2Section2RepresentationsandWarrantiesoftheCompany..........................................32.1CorporateOrganization;Authority;DueAuthorization..............................32.2Capitalization....................................................................32.3CommonStockIssuableuponConversionofSeriesBPreferredandExerciseofWarrantsandInvestmentBankingWarrants.......................................42.4BrokersandFinders...............................................................42.5NoConflict;RequiredFilingsandConsents........................................42.6Disclosure........................................................................52.7RightsAgreement..................................................................52.8OwnershipofPreferredStock......................................................52.9AbsenceofClaimsbytheCompany..................................................5
2.10AgreementsValid..................................................................52.11NoRepresentation.................................................................6Section3RepresentationsandWarrantiesoftheSellers..........................................63.1FormationandStatusofSeller....................................................63.2DueAuthorization.................................................................63.3NoViolation......................................................................63.4NoConsentNeeded.................................................................63.5TaxandLegalMatters.............................................................73.6OwnershipofCompanyShares.......................................................73.7AbsenceofClaimsbytheSeller...................................................73.8Offering..........................................................................73.9BrokersorFinders................................................................83.10RightsAgreementandStockOwnership..............................................83.11InvestmentExperience.............................................................83.12AgreementsValid..................................................................83.13NoRepresentation.................................................................8Section4InvestmentRepresentationsofthePurchaser............................................8Section5GeneralProvisions....................................................................105.1GoverningLaw....................................................................105.2EntireAgreement;Amendment......................................................115.3Notices..........................................................................115.4Assignment.......................................................................115.5NoWaiver........................................................................12</TABLE>-i-<PAGE>3<TABLE><S><C>5.6DescriptiveHeadings.............................................................125.7Counterparts.....................................................................12</TABLE>ExhibitASellersExhibitBCompanyCapitalizationExhibitCAmendmenttoRegistrationRightsAgreement
ExhibitDSubscriptionAgreementExhibitEWarrantsExhibitFInvestmentBankingWarrantsExhibitGSettlementAgreementExhibitHRegistrationRightsAgreement<PAGE>4SHARETRANSFERAGREEMENTTHISSHARETRANSFERAGREEMENT(the"Agreement")ismadeasofAugust17,2001,byandamongVISX,Incorporated,aDelawarecorporation(the"Purchaser"),eachoftheeightsellerslistedonExhibitAhereto(each,a"Seller"andcollectively,the"Sellers"),andMedjetInc.,aDelawarecorporation(the"Company").BACKGROUNDA.TheCompanyandalloftheSellersexceptAdamSmith&Company,Inc.("AdamSmith")(thesevenSellersnotincludingAdamSmitharesometimesreferredtohereinasthe"PreferredStockSellers")arepartiestothatcertainSubscriptionAgreementforSeriesBConvertiblePreferredStockandWarrants,datedDecember3,1999(the"SubscriptionAgreement"),pursuanttowhichthePreferredStockSellerspurchasedfromtheCompany16,000units,atapriceof$125.00perunit.Eachunitconsistsof:(i)one(1)shareoftheCompany'sSeriesBPreferredStock(the"SeriesBPreferred"),and(ii)onehundred(100)five-yearwarrants,eachfive-yearwarrantexercisabletopurchaseoneshareoftheCompany'sCommonStockatapriceof$3.50pershare(the"Warrants").TheaggregatepricepaidbythePreferredStockSellerswas$2,000,000forthe16,000units(consistingofatotalof16,000sharesofSeriesBPreferredand1,600,000Warrants).B.TheCompanyandAdamSmithenteredintothatcertainInvestmentBankingAgreement,datedasofDecember3,1999(the"InvestmentBankingAgreement"),pursuanttowhichtheCompanyissuedtoAdamSmith500,000warrantstopurchasetheCompany'sCommonStock(the"InvestmentBankingWarrants").C.TheCompanyandtheSellersarepartiestothatcertainSettlementAgreement,datedJanuary28,2000(the"SettlementAgreement"),pursuantto
which:(i)theCompanyandthePreferredStockSellersrescinded,onaproratabasis,thepurchaseof5,600sharesofSeriesBPreferredand560,000Warrants;and(ii)theCompanyandAdamSmithreducedthenumberofInvestmentBankingWarrantsby175,000andterminatedtheInvestmentBankingAgreement.D.AsaresultoftheagreementssetforthinparagraphsA--Cabove,thePreferredStockSellersnowown,inthespecificamountssetforthonExhibitAhereto,atotalof10,400sharesofSeriesBPreferredandthe1,040,000Warrants.The10,400sharesofSeriesBPreferredandthe1,040,000Warrantsarereferredtohereincollectivelyasthe"PurchasedSecurities."Inaddition,AdamSmithowns325,000InvestmentBankingWarrants.E.ThePreferredStockSellersnowwishtosell,andthePurchaserwishestopurchase,thePurchasedSecuritiesforanaggregatepurchasepriceof$1,300,000,or$125perunit,andAdamSmithnowwishestosell,andthePurchaserwishestopurchase,theInvestmentBankingWarrantsforanaggregatepurchasepriceof$1.00.NOW,THEREFORE,inconsiderationofthemutualpromisesandcovenantscontainedherein,thepartiesagreeasfollows:-1-<PAGE>5SECTION1PURCHASEANDSALEOFSTOCK1.1SaleofStock.ThePreferredStockSellersherebyagreetosellthePurchasedSecuritiestothePurchaserforatotalpurchasepriceof$1,300,000(the"PurchasePrice"),suchPurchasePricetobepaidtotheSellersintheamountssetforthunderthecolumnentitled"TotalPrice"onExhibitAhereto.1.2SaleofInvestmentBankingWarrants.AdamSmithherebyagreestoselltheInvestmentBankingWarrantstothePurchaserforatotalpurchasepriceof$1.00(the"InvestmentBankingWarrantPrice").1.3Closing.ThepurchaseandsaleofthePurchasedSecuritiesandtheInvestmentBankingWarrantshereundershalltakeplaceataclosing(the"Closing";thedateonwhichtheClosingoccursishereinafterreferredtoasthe"ClosingDate").TheClosingshalltakeplaceconcurrentlywiththeexecutionanddeliveryofthisAgreementbytheSellers,thePurchaserandtheCompany.AttheClosing:
(a)thePurchasershalldelivertoeachPreferredStockSelleroritsdesigneebywiretransfer,cashier'scheckorcertifiedchecksfromabankacceptabletothePreferredStockSeller,orsuchothermethodofpaymentasthePreferredStockSellershallapprove,anamountequaltothePreferredStockSeller'sprorataportionofthePurchasePrice;(b)eachPreferredStockSellershalldelivertothePurchaseraStockPower,thestockcertificaterepresentingthesharesofSeriesBPreferredheldbyeachofthem,theoriginalWarrantheldbyeachofthem,andanyotherdocumentsreasonablyacceptabletothePurchaserevidencingthetransferofthePurchasedSecuritiesfromeachPreferredStockSellertoPurchaser;(c)thePurchasershalldelivertoAdamSmithoritsdesigneebywiretransfer,cashier'scheckorcertifiedchecksfromabankacceptabletoAdamSmith,orsuchothermethodofpaymentasAdamSmithshallapprove,anamountequaltotheInvestmentBankingWarrantPrice;(d)AdamSmithshalldelivertothePurchasertheoriginalInvestmentBankingWarrantandanyotherdocumentsreasonablyacceptabletothePurchaserevidencingthetransferoftheInvestmentBankingWarrantsfromAdamSmithtothePurchaser;(e)uponthedeliverybythePurchasertotheCompanyofthedocumentsreferredtoinSection1.3(b)andSection1.3(d),theCompanyshallissueanddelivertothePurchaser(i)astockcertificatefor10,400sharesofSeriesBPreferred;(ii)awarranttopurchase1,040,000sharesofCompanyCommonStock,withthesametermsandconditionsastheWarrants;and(iii)awarranttopurchase325,000sharesofCompanyCommonStock,withthesametermsandconditionsastheInvestmentBankingWarrant;and-2-<PAGE>6(f)theCompany,theSellersandthePurchasershallexecuteanddeliveranamendment(the"Amendment")tothatcertainRegistrationRightsAgreementbyandamongtheCompanyandtheSellers,datedDecember3,1999(the"RightsAgreement";andasamended,the"AmendedRightsAgreement"),intheformattachedasExhibitC.SECTION2REPRESENTATIONSANDWARRANTIESOFTHECOMPANY
TheCompanyherebyrepresentsandwarrantstothePurchaserasfollows,subjecttosuchexceptionsasarespecificallydisclosedinwritinginthedisclosureschedulesuppliedbytheCompanytoPurchaserdatedasofthedatehereof(the"CompanyDisclosureLetter"):2.1CorporateOrganization;Authority;DueAuthorization.(a)TheCompany(i)isacorporationdutyorganized,validlyexistingandingoodstandingunderthelawsoftheStateofDelaware,(ii)hasthecorporatepowerandauthoritytoownorleaseitspropertiesasandintheplaceswheresuchbusinessisnowconductedandtocarryonitsbusinessasnowconductedand(iii)isdulyqualifiedandingoodstandingasaforeigncorporationauthorizedtodobusinessineveryjurisdictionwherethefailuretosoqualify,individuallyorintheaggregate,wouldhaveamaterialadverseeffectontheoperations,prospects,assets,liabilities,financialconditionorbusinessoftheCompany(a"CompanyMaterialAdverseEffect").Certificatesofstateauthoritiesasofarecentdateevidencingsuchvalidexistenceorduequalification,asthecasemaybe,andgoodstandinghavebeendeliveredtothePurchaser.(b)TheCompany(i)hastherequisitecorporatepowerandauthoritytoexecute,deliverandperformthisAgreementandtheotheragreementsandwarrantscontemplatedherebytowhichitisaparty(collectively,the"OtherAgreements")andtoincurtheobligationshereinandthereinand(ii)hasbeenauthorizedbyallnecessarycorporateactiontoexecute,deliverandperformthisAgreementandtheOtherAgreementsandtoconsummatethetransactionscontemplatedherebyandthereby(the"ContemplatedTransactions").ThisAgreementandeachoftheOtherAgreementsisavalidandbindingobligationoftheCompanyenforceableinaccordancewithitsterms,exceptassuchenforceabilitymaybelimitedbyprinciplesofpublicpolicyandsubjecttothelawsofgeneralapplicationrelatingtobankruptcy,insolvencyandthereliefofdebtorsandrulesoflawgoverningspecificperformance,injunctiverelieforotherequitableremedies.2.2Capitalization.AsofAugust14,2001,theauthorizedcapitaloftheCompanyconsistedof(i)30,000,000sharesofCommonStock,$.001parvaluepershare(the"CommonStock"),ofwhich3,901,431sharesofCommonStockwereoutstanding,and(ii)1,000,000sharesofPreferredStock,$.01parvaluepershare,whichmaybedesignatedasSeriesAPreferredStock,SeriesBPreferredStock,SeriesCPreferredStock,andSeriesBConvertiblePreferredStock.TheSeriesAPreferredStock,SeriesBPreferredStockandSeriesCPreferredStockconsistofan
-3-<PAGE>7aggregateofnotmorethan400,000shares,ofwhich110,000aredesignatedasSeriesAPreferredStock.Inaddition,16,000sharesofCompanyPreferredStockaredesignatedasSeriesBConvertiblePreferredStock,ofwhich10,400sharesareoutstanding.ThecapitalizationoftheCompanyasofAugust14,2001issetforthonExhibitB.AlloutstandingshareswereissuedincompliancewithallapplicableFederalandstatesecuritieslaws.ExceptascontemplatedbythisAgreementorassetforthintheCompanyDisclosureLetter,theCompanyhasnotgranted(i)anyoutstandingsubscriptions,warrants,options,conversionprivilegesorotherrightsoragreementstopurchaseorotherwiseacquireorissueanysharesofcapitalstockfromtheCompany(orsharesreservedforsuchpurpose),(ii)anypreemptiverightsorrightsoffirstrefusalwithrespecttotheissuanceofadditionalsharesofcapitalstockoftheCompanyotherthanassetforthintheWarrantsandInvestmentBankingWarrants,and(iii)anycommitmentsorunderstandings(oralorwritten)oftheCompanytoissueanyshares,warrants,optionsorotherrights.ExhibitBsetsforththeCompanywarrants,options,convertiblesecuritiesandotherCompanystockpurchaserightsoutstandingasofAugust14,2001,thenumberofsharesofcommonstockissuablethereunderandtheexerciseorconversionpricethereof,asthecasemaybe.TothebestoftheCompany'sknowledge,exceptassetforthintheCompanyDisclosureLetter,noneofthesharesofCommonStockaresubjecttoanyshareholders'agreement,votingtrustagreementorsimilararrangementorunderstanding.ExceptassetforthintheCompanyDisclosureLetter,theCompanyhasnooutstandingbonds,debentures,notesorotherobligationstheholdersofwhichhavetherighttovote(orwhichareconvertibleintoorexercisableforsecuritieshavingtherighttovote)withthestockholdersoftheCompanyonanymatter.2.3CommonStockIssuableuponConversionofSeriesBPreferredandExerciseofWarrantsandInvestmentBankingWarrants.TheissuanceofthesharesofCommonStock(the"UnderlyingShares")issuableuponconversionoftheSeriesBPreferredoruponexerciseoftheWarrantsandtheInvestmentBankingWarrantshasbeendulyauthorizedandtheUnderlyingShareshavebeen,andatalltimespriortosuchconversionorexercisewillhavebeen,dulyreservedforissuanceuponsuchconversionorexerciseand,whensoissued,willbevalidlyissued,fullypaidandnon-assessable.2.4BrokersandFinders.TheCompanyhasnotretainedanyinvestmentbanker,brokerorfinderinconnectionwiththeContemplatedTransactions.2.5NoConflict;RequiredFilingsandConsents.
(a)TheexecutionanddeliveryofthisAgreementandtheOtherAgreementsbytheCompanydonot,andtheperformanceofthisAgreementandtheOtherAgreementsandtheconsummationbytheCompanyoftheContemplatedTransactionswillnot,(i)conflictwithorviolatetheCertificateofIncorporationorBy-LawsorequivalentorganizationaldocumentsoftheCompany,(ii)conflictwithorviolateanylaw,rule,regulation,order,judgmentordecreeapplicabletotheCompanyorbywhichanypropertyorassetoftheCompanyisboundoraffected,or(iii)exceptassetforthintheCompanyDisclosureLetter,resultinanymaterialbreachoforconstituteamaterialdefault(oraneventwhichwithnoticeorlapseoftimeorbothwouldbecomea-4-<PAGE>8materialdefault)under,resultinthelossofamaterialbenefitunder,orgivetoothersanyrightofpurchaseorsale,oranyrightoftermination,amendment,acceleration,increasedpaymentsorcancellationof,orresultinthecreationofalienorotherencumbranceonanypropertyorassetoftheCompanypursuantto,anynote,bond,mortgage,indenture,contract,agreement,lease,license,permit,franchiseorotherinstrumentorobligationtowhichtheCompanyisapartyorbywhichtheCompanyoranypropertyorassetoftheCompanyisboundoraffected.(b)TheexecutionanddeliveryofthisAgreementandtheOtherAgreementsbytheCompanydonot,andtheperformanceofthisAgreementandtheOtherAgreementsandtheconsummationbytheCompanyoftheContemplatedTransactionswillnot,requireanyconsent,approval,authorizationorpermitof,orfilingwithornotificationto,anygovernmentalorregulatoryauthority,domesticorforeign(eacha"GovernmentalEntity")exceptforapplicablerequirements,ifany,oftheSecuritiesExchangeActof1934,asamended(the"ExchangeAct")oranystatesecuritiesor"bluesky"laws("BlueSkyLaws").2.6Disclosure.NorepresentationorwarrantyoftheCompanyhereinorintheCompanyDisclosureLetterandnoinformationdisclosedintheformsandreportsfiledwiththeSecuritiesandExchangeCommissioncontained,whenmade,anyuntruestatementofamaterialfactoromittedtostateamaterialfactnecessaryinordertomakethestatementscontainedhereinortherein,inlightofthecircumstancesunderwhichtheyweremade,notmisleading,whenmade.2.7RightsAgreement.TheCompanyagreesthatthePurchasedSecuritiesaresubjecttothetermsandprovisionsoftheAmendedRightsAgreement,andtheCompanyagreesthatthePurchasershallhavealloftherightsandprivileges
setforthintheAmendedRightsAgreementasifasignatorythereto.2.8OwnershipofPreferredStock.ThetransferoftheSeriesBPreferredtothePurchaserpursuanttothisAgreementisdulyauthorized,andtheSeriesBPreferredarevalidlyissued,fullypaidandnon-assessable.AssumingthatthepurchaseandsaleoftheSeriesBPreferrediseffectedpursuanttothetermsofthisAgreementandtheContemplatedTransactions,asaresultoftheContemplatedTransactions,thePurchaserwillbethesolerecordholderofallissuedandoutstandingsharesofSeriesBPreferredandtherearenopresentlyoutstandingrightstoacquireorreceiveanysharesofSeriesBPreferred.2.9AbsenceofClaimsbytheCompany.AsoftheClosingDate,theCompanywillhavenoclaimagainsttheSellerunderanycontractoronanyotherlegalbasiswhatsoeverarisingoutoftheSeller'sownershipofthePurchasedSecurities,exceptforanybreachesofanyrepresentations,warranties,dutiesorcovenantsunderthisAgreement.2.10AgreementsValid.Eachofthefollowingagreements(eachofwhichisattachedhereto)isatrueandcorrectcopyofthefinal,executedversionofeachsuchagreement,and,asofimmediatelypriortotheClosing,isinfullforceandeffectandrepresentsavalidandbindingagreementbetweenthepartiesthereto:theSubscriptionAgreement,attachedasExhibitD;the-5-<PAGE>9Warrants,eachofwhichisattachedasExhibitE;theInvestmentBankingWarrants,attachedasExhibitF;theSettlementAgreement,attachedasExhibitG;andtheRightsAgreement,attachedasExhibitH.2.11NoRepresentation.TheCompanymakesnorepresentationastotheaccuracyoftherepresentationsandwarrantiesmadebytheSellersinSection3andthePurchaserinSection4ofthisAgreement.SECTION3REPRESENTATIONSANDWARRANTIESOFTHESELLERSEachSellerherebyseverallywarrantstothePurchaserandtheCompany,andagreesto,thefollowing:3.1FormationandStatusofSeller.IftheSellerisacorporationorotherlegalentity,theSellerisdulyincorporatedorformedandvalidly
existingunderthelawsofitsjurisdictionofincorporationorformation.3.2DueAuthorization.ThisAgreementhasbeendulyandvalidlyauthorized,executedanddeliveredby,oronbehalfof,theSeller,and,assumingthedueauthorization,executionanddeliverybythePurchaserandtheCompany,constitutesavalidandbindingobligationoftheSellerenforceableagainsttheSellerinaccordancewithitstermsexceptassuchenforceabilitymaybelimitedbyprinciplesofpublicpolicyandsubjecttothelawsofgeneralapplicationrelatingtobankruptcy,insolvencyandthereliefofdebtorsandrulesoflawgoverningspecificperformance,injunctiverelieforotherequitableremedies.Allotherdocumentstobeauthorized,executedanddeliveredbytheSellerwillbedulyauthorized,executedanddeliveredbytheSellerandwillbevalidandbindingobligationsoftheSellerenforceableinaccordancewiththeirrespectiveterms,exceptassuchenforceabilitymaybelimitedbyprinciplesofpublicpolicyandsubjecttothelawsofgeneralapplicationrelatingtobankruptcy,insolvencyandthereliefofdebtorsandrulesoflawgoverningspecificperformance,injunctiverelieforotherequitableremedies.3.3NoViolation.NeithertheexecutionanddeliveryofthisAgreementnortheperformancebytheSellerofitsobligationshereunderorundertheOtherAgreementswillconflictwithanyagreementorcommitmenttowhichtheSellerisaparty,orviolateanystatuteorlaworanyjudgment,decree,order,regulationorruleofanycourtorotherGovernmentalEntityapplicabletotheSeller.Therearenolegalproceedingspending,ortotheSeller'sknowledge,threatened,againstsuchSellerthatquestionsthevalidityoftheAgreementorwouldpreventconsummationoftheContemplatedTransactions.TheSellerisnotapartyorsubjecttotheprovisionsofanyorder,writ,injunction,judgmentordecreeofanycourtorgovernmentagencyorinstrumentality.3.4NoConsentNeeded.ToSeller'sknowledge,noconsent,waiver,approval,orderorauthorizationof,ordeclaration,filingorregistrationwith,anyGovernmentalEntityoranythird-6-<PAGE>10partyisrequiredtobemadeorobtainedbytheSellerinconnectionwiththeexecutionanddeliverybytheSellerofthisAgreementortheOtherAgreementsortheperformancebytheSellerofitsobligationshereunderortheconsummationbytheSelleroftheContemplatedTransactions.3.5TaxandLegalMatters.TheSellerhashadanopportunitytoreviewwithitsowntaxandlegaladvisorsthetaxandlegalconsequencestotheSeller
oftheContemplatedTransactions.TheSellerunderstandsthatitmustrelysolelyonitsadvisorsandnotonanystatementsorrepresentationsbythePurchaserortheCompany,oranyoftheiragents.TheSellerfurtherunderstandsthatitshallberesponsibleforitsowntaxliabilitythatmayariseasaresultoftheContemplatedTransactions.3.6OwnershipofCompanyShares.SelleristhesolerecordandbeneficialownerofthenumberofsharesofSeriesBPreferredandtheWarrantsortheInvestmentBankingWarrantssetforthnexttoitsnameonExhibitA,andsuchsecuritiesarenotandwillnotatanytimepriortoorattheClosingbesubjecttoanylienortoanyrightsoffirstrefusalofanykind.ExceptassetforthinthisAgreementoraschedulehereto,therearenooptions,warrants,calls,rights,commitmentsoragreementsofanycharacter,writtenororal,towhichtheSellerisapartyorbywhichhe,sheoritisboundobligatingtheSellertoissue,deliver,sell,repurchaseorredeem,orcausetobeissued,delivered,soldrepurchasedorredeemed,anysharesofSeriesBPreferredorWarrantsorInvestmentBankingWarrantsorobligatingtheSellertograntorenterintoanysuchoption,warrant,call,right,commitmentoragreementandtherewillbenosuchagreementsatanytimepriortoorattheClosing.TheSellerhasorpriortotheClosingwillhavegoodandvalidtitleto,andhasthesolerighttotransfersuchsharesofSeriesBPreferredandWarrantsandInvestmentBankingWarrants.SuchinterestsconstituteallofsharesofSeriesBPreferredandWarrantsandInvestmentBankingWarrantsowned,beneficiallyorofrecord,bytheSeller.ThePurchaserwillreceivegoodandvalidtitletosuchsharesofSeriesBPreferredandWarrantsandInvestmentBankingWarrantsinaccordancewiththeContemplatedTransactions,subjecttonoclaim,orlienretained,grantedorpermittedbytheSeller.ExceptascontemplatedinthisAgreement,theSellerhasnotengagedinanysaleorothertransferofitssharesofSeriesBPreferredorWarrantsorInvestmentBankingWarrantsincontemplationoftheContemplatedTransactions.3.7AbsenceofClaimsbytheSeller.AsoftheClosingDate,theSellerwillhavenoclaimagainsttheCompanyorthePurchaserunderanycontractoronanyotherlegalbasiswhatsoever,exceptforaclaimagainstthePurchaserforthePurchaser'sfailure,ifany,topaythePurchasePriceandtheInvestmentBankingWarrantPriceasspecifiedinSection1.1andSection1.2.3.8Offering.SubjecttotheaccuracyofthePurchaser'srepresentationsinSection4hereof,theoffer,saleandissuanceofthePurchasedSecuritiesandInvestmentBankingWarrantstobeissuedinconformitywiththetermsofthisAgreementconstitutetransactionsexemptfromtheregistrationrequirementsofSection5oftheSecuritiesActof1933,asamended(the"SecuritiesAct")andfromthequalificationrequirementsoftheCaliforniaCorporateSecuritiesLawsof1968,asamended.
-7-<PAGE>113.9BrokersorFinders.TheSellerhasnotengagedanybrokers,findersoragents,andthePurchaserhasnotincurred,andwillnotincur,directlyorindirectly,asaresultofanyactiontakenbytheCompany,anyliabilityforbrokerageorfinders'feesoragents'commissionsoranysimilarchargesinconnectionwiththeAgreement.Intheeventthattheprecedingsentenceisinanywayinaccurate,theSellerherebyagreestoindemnifyandholdharmlessthePurchaserandtheCompanyfromanyliabilityforanysuchcommissionorcompensationinthenatureofabrokerageorfinder'sfeeoragent'scommission(andthecostsandexpensesofdefendingagainstsuchliabilityorassertedliability)forwhichthePurchaserortheCompanyoranyoftheirrespectiveofficers,partners,employeesorrepresentativesisresponsible.3.10RightsAgreementandStockOwnership.TheSelleragreesthat,effectiveasoftheClosing,theSellerwillnolongerhaveanyoftherightssetforthintheRightsAgreementandwillnolongerholdany:sharesofSeriesBPreferred,sharesofCompanyCommonStock,warrantsoroptionstopurchaseanysharesofSeriesBPreferredorCommonStock,orothersecuritiesoftheCompany.3.11InvestmentExperience.TheSellerisexperiencedinevaluatingtheunregisteredsecuritiesofcompanies,hassuchknowledgeandexperienceinfinancialorbusinessmattersthattheSelleriscapableofevaluatingthemeritsandrisksofthesaleofthePurchasedSecuritiesandtheInvestmentBankingWarrants,andhasmadeaninformeddecisiontosellthePurchasedSecuritiesandtheInvestmentBankingWarrants.TheSellerisawarethatthePurchaserandtheCompanyareplanningtoenterintoaMergerAgreementpursuanttowhichthePurchaserwillhavetheoption,initssolediscretion,topurchasesharesofCompanycommonstockatapersharepriceof$2.00.3.12AgreementsValid.EachofthefollowingagreementstowhichsuchSellerisaparty(eachofwhichisattachedhereto)isatrueandcorrectcopyofthefinal,executedversionofeachsuchagreement,and,astosuchSeller,isinfullforceandeffectandrepresentsavalidandbindingagreementbetweenthepartiestheretoasofimmediatelypriortotheClosing:theSubscriptionAgreement,attachedasExhibitD;theWarrants,eachofwhichisattachedasExhibitE;theInvestmentBankingWarrants,attachedasExhibitF;theSettlementAgreement,attachedasExhibitG;andtheRightsAgreement,attachedasExhibitH.
3.13NoRepresentation.TheSellermakesnorepresentationastotheaccuracyoftherepresentationsandwarrantiesmadebytheCompanyinSection2andthePurchaserinSection4ofthisAgreement.SECTION4INVESTMENTREPRESENTATIONSOFTHEPURCHASERThePurchaserrepresentsandwarrantstotheSellersandtotheCompany,andagreesto,thefollowing:-8-<PAGE>124.1ThePurchaserisacquiringthePurchasedSecuritiesandtheInvestmentBankingWarrantsforinvestmentforitsownaccount,notasanomineeoragentandnotwithaviewto,orforresaleinconnectionwith,anydistributionthereof,andhasnopresentintentionofselling,grantingparticipationin,orotherwisedistributingthePurchasedSecuritiesandtheInvestmentBankingWarrants.ThePurchaserfurtherrepresentsthatthePurchaserdoesnothaveanycontract,undertaking,agreementorarrangementwithanypersontosell,transfer,orgrantparticipationtosuchpersonortoanythirdperson,withrespecttoanyofthePurchasedSecuritiesandtheInvestmentBankingWarrants.ThePurchaserunderstandsthatthePurchasedSecuritiesandtheInvestmentBankingWarrantshavenotbeenregisteredundertheSecuritiesAct,andarenotrequiredtoberegisteredbyreasonofaspecificexemptionfromtheregistrationprovisionsoftheSecuritiesActwhichdependsupon,amongotherthings,thebonafidenatureoftheinvestmentintentasexpressedherein.4.2ThePurchaserisexperiencedinevaluatingandinvestingintheunregisteredsecuritiesofcompanies,canbeartheeconomicriskofthisinvestmentandhassuchknowledgeandexperienceinfinancialorbusinessmattersthatthePurchaseriscapableofevaluatingthemeritsandrisksoftheinvestmentinthePurchasedSecuritiesandtheInvestmentBankingWarrants.ThePurchaserunderstandsthataninvestmentintheCompanyinvolvessubstantialrisks.ThePurchaserfurtherunderstandsalloftherisksrelatedtothepurchaseofthePurchasedSecuritiesandtheInvestmentBankingWarrantsandthatthepurchaseofthePurchasedSecuritiesandtheInvestmentBankingWarrantswillbeahighlyspeculativeinvestment.ThePurchaserisable,withoutimpairingitsfinancialcondition,toholdthePurchasedSecuritiesandtheInvestmentBankingWarrantsforanindefiniteperiodoftimeandtosufferacompletelossofitsinvestment.
4.3ThePurchaserisan"accreditedinvestor"assuchtermisdefinedunderRule501ofRegulationD,promulgatedundertheSecuritiesAct.4.4ThePurchaserisawareoftheCompany'sbusinessaffairsandfinancialcondition,andhasacquiredsufficientinformationabouttheCompanytoreachaninformedandknowledgeabledecisiontoacquirethePurchasedSecuritiesandtheInvestmentBankingWarrants.ThePurchaserfurtherrepresentsandacknowledgesthatthePurchaserissolelyresponsibleforitsownduediligenceinvestigationoftheCompanyandforitsownanalysisoftheterms,meritsandrisksofthisinvestment.4.5ThePurchaserunderstandsthatthecertificateevidencingthesecuritieswillbeimprintedwithalegendwhichprohibitsthetransferofthesecuritiesunlesstheyareregisteredorsuchregistrationisnotrequiredintheopinionofcounselsatisfactorytotheCompany,andanyotherlegendrequiredunderapplicablestatesecuritieslaws.ThePurchaserunderstandsthatallcertificatesrepresentinganyofthePurchasedSecuritiesandtheInvestmentBankingWarrantssubjecttothisTransfershallhaveendorsedthereonlegendssubstantiallyinthefollowingform:"THESHARESREPRESENTEDBYTHISCERTIFICATE[SECURITIESREPRESENTEDBYTHISWARRANT]HAVEBEENACQUIREDFOR-9-<PAGE>13INVESTMENTANDHAVENOTBEENREGISTEREDUNDERTHESECURITIESACTOF1933.SUCHSHARES[WARRANTS]MAYNOTBESOLDORTRANSFERREDINTHEABSENCEOFREGISTRATIONORANEXEMPTIONTHEREFROMUNDERSAIDACT."4.6ThePurchaserisawareoftheprovisionsofRule144,promulgatedundertheSecuritiesActwhich,insubstance,permitslimitedpublicresaleof"restrictedsecurities"inanon-publicofferingsubjecttothesatisfactionofcertainconditions,including,incasethesecuritieshavebeenheldforlessthantwoyears:(1)theresaleoccurringnotlessthanoneyearafterthepartyhaspurchasedandpaidforthesecuritiestobesold;(2)theavailabilityofcertainpublicinformationabouttheCompany;(3)thesalebeingmadethroughabrokerinanunsolicited"broker'stransaction"orintransactionsdirectlywithamarketmaker(asthattermisdefinedundertheSecuritiesExchangeActof1934);and(4)theamountofsecuritiesbeingsoldduringanythree-monthperiodnotexceedingthespecifiedlimitationsstatedtherein.
4.7ThePurchaserfurtherunderstandsthatintheeventalloftheapplicablerequirementsofRule144arenotsatisfied,registrationundertheSecuritiesActorcompliancewitharegistrationexemptionwillberequired;andthat,notwithstandingthefactthatRule144isnotexclusive,thestaffoftheSecuritiesandExchangeCommissionhasexpresseditsopinionthatpersonsproposingtosellprivateplacementsecuritiesotherthaninaregisteredofferingandotherwisethanpursuanttoRule144willhaveasubstantialburdenofproofinestablishingthatanexemptionfromregistrationisavailableforsuchoffersorsale,andthatsuchpersonsandtheirrespectivebrokerswhoparticipateinsuchtransactionsdosoattheirownrisk.4.8ThePurchaseragreesthatthePurchasedSecuritiesaresubjecttothetermsandprovisionsoftheAmendedRightsAgreement,andthePurchaseragreestobeboundbyallofthetermsoftheAmendedRightsAgreementasifasignatorythereto.4.9AsoftheClosingDate,thePurchaserwillhavenoclaimagainsttheSellerunderanycontractoronanyotherlegalbasiswhatsoever,exceptforanybreachesofanyrepresentations,warranties,dutiesorcovenantsunderthisAgreementthathaveanadverseeffectonthePurchaser'srighttoownthePurchasedSecuritiesandtheInvestmentBankingWarrantsfreeandclearofanyclaimbyanypartytothisAgreementorbyanyotherparty.4.10ThePurchasermakesnorepresentationastotheaccuracyoftherepresentationsandwarrantiesmadebytheCompanyinSection2andtheSellersinSection3ofthisAgreement.SECTION5GENERALPROVISIONS5.1GoverningLaw.ThisAgreementshallbegovernedinallrespectsbytheinternallawsoftheStateofDelawarewithoutregardtoprinciplesofconflictsoflaw.-10-<PAGE>145.2EntireAgreement;Amendment.ThisAgreement(togetherwiththeAmendedRightsAgreement)representstheentireagreementamongthepartieswithrespecttothepurchaseofPurchasedSecuritiesandtheInvestmentBankingWarrants.Exceptasexpresslyprovidedherein,neitherthisAgreementnoranytermhereofmaybeamended,waived,dischargedorterminatedotherthanbya
writteninstrumentsignedbythepartyagainstwhomenforcementofanysuchamendment,waiver,dischargeorterminationissought.TheSellersagreethatanyamendment,waiver,dischargeorterminationshallbebindinguponandeffectiveagainstallSellersifsuchamendment,waiver,dischargeorterminationissignedbytheSellerssellingamajorityofthePurchasedSecurities.5.3Notices.Anynotice,demandorrequestrequiredorpermittedtobegivenbytheSeller,thePurchaserortheCompanypursuanttothetermsofthisAgreementshallbeinwritingandshallbedeemedgivenwhendeliveredpersonallyor,ifsentbymail,attheearlierofitsreceiptor72hoursafterthesamehasbeendepositedinaregularlymaintainedreceptacleforthedepositoftheUnitedStatesmail,addressedandmailedtothepartiesatthefollowingaddressesorsuchotheraddressasapartymayrequestbynotifyingtheotherinwriting:<TABLE><S><C>IftothePurchaser:withacopyto:VISX,IncorporatedWilsonSonsiniGoodrich&Rosati,PC3400CentralExpressway650PageMillRoadSantaClara,CA95051-0703PaloAlto,CA94301Facsimile:(408)773-7051Facsimile:(650)493-6811Attention:DerekBertocciAttention:JohnV.Roos,Esq.IftotheSellers:withacopyto:AttheaddresssetforthonExhibitAHahn&HessenLLP350FifthAvenueNewYork,NY10018Facsimile:(212)244-2078Attention:JamesC.Kardon,Esq.IftotheCompany:withacopyto:MedjetInc.KelleyDrye&Warren1090KingGeorgePostRoad,Suite301101ParkAvenueEdison,NJ08837NewYork,NY10178-0002Facsimile:(732)738-3984Facsimile:(212)808-7897Attention:Dr.EugeneGordonAttention:JaneE.Jablons,Esq.</TABLE>
5.4Assignment.SubjecttoanyrestrictionsontransferabilitysetforthintheAmendedRightsAgreement,therightsandbenefitsofthePurchaserunderthisAgreementshallbe-11-<PAGE>15transferabletoanyoneormorepersonsorentities,andallcovenantsandagreementshereundershallinuretothebenefitof,andbeenforceablebythePurchaser'ssuccessorsandassigns.5.5NoWaiver.Eitherparty'sfailuretoenforceanyprovisionorprovisionsofthisAgreementshallnotinanywaybeconstruedasawaiverofanysuchprovisionorprovisions,norpreventthatpartythereafterfromenforcingeachandeveryotherprovisionofthisAgreement.Therightsgrantedbothpartieshereinarecumulativeandshallnotconstituteawaiverofeitherparty'srighttoassertallotherlegalremediesavailabletoitunderthecircumstances.5.6DescriptiveHeadings.Thedescriptiveheadingshereinhavebeeninsertedforconvenienceonlyandshallnotbedeemedtolimitorotherwiseaffecttheconstructionofanyprovisionshereof.5.7Counterparts.ThisAgreementmaybeexecutedinoneormorecounterparts,eachofwhichshallforallpurposesbedeemedtobeanoriginalandallofwhichshallconstitutethesameinstrument,butonlyoneofwhichneedbeproduced.[remainderofthepageintentionallyleftblank]-12-<PAGE>16INWITNESSWHEREOF,thepartieshavedulyexecutedthisAgreementasofthedayandyearfirstsetforthabove.SELLERS:ADAMSMITHINVESTMENTPARTNERS,L.P.By:AdamSmithCapitalManagement,L.L.C.,
GeneralPartnerBy:_______________________________________Name:OrinHirschmanTitle:PartnerADAMSMITHINVESTMENTS,LTDBy:_______________________________________Name:Title:By:_______________________________________Name:Title:RICHARDANDANAGROSSMANJTWROSBy:_______________________________________Name:Title:ORINHIRSCHMAN__________________________________________OrinHirschmanPAULPACKER__________________________________________PaulPacker[SIGNATUREPAGETOSHARETRANSFERAGREEMENT]
<PAGE>17ADAM-JACKM.DODICK,MDGENERALPARTNERSHIPBy:_______________________________________Name:Title:__________________________________________HERSHELP.BERKOWITZHershelP.BerkowitzADAMSMITH&COMPANY,INC.By:_______________________________________Name:Title:PURCHASER:VISX,INCORPORATEDBy:_______________________________________Name:DerekA.BertocciTitle:VicePresident,ControllerTHECOMPANY:MEDJETINC.By:_______________________________________Name:EugeneGordonTitle:ChairmanandChiefExecutiveOfficer[SIGNATUREPAGETOSHARETRANSFERAGREEMENT]
<PAGE>18EXHIBITASELLERS<TABLE><CAPTION>SHARESOFSERIESBNUMBEROFPRICEPERSELLERPREFERREDHELDWARRANTSHELDUNITTOTALPRICE------------------------------------------------------------------------------------------------------<S><C><C><C><C>AdamSmithInvestmentPartners,L.P.c/oRichardGrossman259OakfordStreetWestHempstead,NY115526,760676,000$125.00$845,000------------------------------------------------------------------------------------------------------AdamSmithInvestments,Ltd.TropicIsleBuildingP.O.Box438RoadTown,TortolaBritishVirginIslands1,040104,000$125.00$130,000------------------------------------------------------------------------------------------------------RichardandAnaGrossmanJTWROS259OakfordStreetWestHempstead,NY1155252052,000$125.00$65,000------------------------------------------------------------------------------------------------------OrinHirschman1231East10thStreetBrooklyn,NY1123049449,400$125.00$61,750------------------------------------------------------------------------------------------------------PaulPacker785AddisonStreetWoodmere,NY1159823423,400$125.00$29,250------------------------------------------------------------------------------------------------------Adam-JackM.Dodick,MDGeneralPartnershipc/oRichardGrossman259OakfordStreetWestHempstead,NY115521,300130,000$125.00$162,500------------------------------------------------------------------------------------------------------HershelP.Berkowitz
410YeshivaLaneBaltimore,MD21208-1102525,200$125.00$6,500------------------------------------------------------------------------------------------------------AdamSmith&Company,Inc.c/oRichardGrossman259OakfordStreetWestHempstead,NY11552325,000$1------------------------------------------------------------------------------------------------------TOTAL10,4001,365,000$125.00$1,300,001------------------------------------------------------------------------------------------------------</TABLE><PAGE>19EXHIBITBCOMPANYCAPITALIZATION<PAGE>20EXHIBITCAMENDMENTTOREGISTRATIONRIGHTSAGREEMENT<PAGE>21EXHIBITDSUBSCRIPTIONAGREEMENT<PAGE>22EXHIBITEWARRANTS<PAGE>23EXHIBITF
INVESTMENTBANKINGWARRANTS<PAGE>24EXHIBITGSETTLEMENTAGREEMENT<PAGE>25EXHIBITHREGISTRATIONRIGHTSAGREEMENT
