SECURED
      DEMAND PROMISSORY NOTE

     

    
      	
              Norwalk,
                Connecticut

            	 
	
              ______________,
                2008

            	
              $_____

            


    

    


    FOR
      VALUE RECEIVED,
      SPLINTERNET
      HOLDINGS, INC.,
      a
      Delaware corporation with an address at 535 Connecticut Avenue, 2nd
      floor,
      Norwalk, Connecticut 06854 (the “Maker”), hereby promises to pay to the order of
James
      C. ACKERLY,
      with an
      address at 364 Rowayton Avenue, Rowayton, Connecticut 06853, or assigns (the
      “Holder”), the principal sum of _______________________ Dollars
      in
      lawful money of the United States, plus interest thereon at the rate set forth
      below, ON
      DEMAND.
      

    


    1. Payments. 

     

    Maker
      promises to pay interest on the principal amount of this Note outstanding at
      a
      rate equal to eight
      (8.0%) percent
      per
      annum. Maker hereby agrees to repay the principal amount of this Note, and
      the
      interest which shall accrue on this Note, upon written demand therefor by the
      Holder. When any date on which principal and interest are due and payable falls
      on a Saturday, Sunday or legal holiday, then such payment shall be due and
      payable on the first business day immediately following.

    


    Prepayment
      of all or any part of the principal due and owing on this Note may be made
      on
      any date without any additional premium or penalty. All payments made on this
      Note shall be applied first to amounts other than principal and interest which
      may then be due hereunder, then to interest accrued to the date of the payment
      and then to the outstanding principal amount of this Note.

    


    In
      the
      event any payment due hereunder is not made within five (5) days after the
      due
      date, interest shall accrue on such unpaid amount at the rate of fifteen
      (15.0%) percent per
      annum
      from the due date.

    


    2. Waivers.

     

    No
      delay
      or failure on the part of the Holder in exercising any right, privilege or
      option hereunder shall operate as a waiver thereof or of any event of default,
      nor shall any single or partial exercise of any such right, privilege or option
      preclude any further exercise thereof, or the exercise of any other right,
      privilege or option.

    


    Maker
      waives demand, presentment for payment, notice of dishonor, protest and notice
      of protest and any notice or demands of any kind are hereby expressly
      waived.

    


    3. Security
      Agreement.
      

    


    The
      obligations of the Maker under this Note shall be secured by that certain
      Security Agreement, dated as of the date hereof, by and among Splinternet
      Holdings, Inc., Splinternet Communications, Inc., a Connecticut corporation,
      and
      James C. Ackerly.


    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    4. Miscellaneous.

     

    (a) Maker
      shall be responsible for all costs and expenses, including court costs and
      reasonable attorneys’ fees incurred in connection with collection of payments
      due under this Note.

     

    (b) This
      Note
      shall be governed by and interpreted in accordance with the laws of the State
      of
      Connecticut applicable to agreements made and to be performed within such State.
      Maker (i) hereby irrevocably submits to the jurisdiction of the state courts
      of
      the State of Connecticut and the jurisdiction of the United States District
      Courts in the State of Connecticut for the purpose of any suit, action or other
      proceeding arising out of or based upon this Note, or the subject matter hereof
      brought by Holder, and (ii) hereby waives and agrees not to assert, by way
      of
      motion, as a defense, or otherwise, in any such suit, action or proceeding,
      any
      claim that it is not subject personally to the jurisdiction of the above-named
      courts, that its property is exempt or immune from attachment or execution,
      that
      the suit, action or proceeding is brought in an inconvenient forum, that the
      venue of the suit, action or proceeding is improper or this Note or the subject
      matter hereof may not be enforced in or by such court, and (iii) hereby waives
      in any such action, suit, or proceeding any offsets or counterclaims. Maker
      hereby consents to service of process by certified mail or by a nationally
      recognized overnight delivery service at its address set forth herein and agrees
      that this submission to jurisdiction and this consent to service of process
      by
      mail or overnight delivery is made for the express benefit of Holder. Final
      judgment against Maker in any such action, suit or proceeding shall be
      conclusive, and may be enforced in other jurisdictions (i) by suit, action
      or
      proceeding on the conclusive evidence of the fact and of the amount of any
      indebtedness or liability of Maker therein described, or (ii) in any other
      manner provided by or pursuant to the laws of such other jurisdiction;
provided,
      however,
      that
      Holder may at its option bring suit, or institute other judicial proceedings,
      against Maker or any of their assets in any state or Federal court of the United
      States or of any country or place where Maker or its assets may be
      found.

     

    (c) MAKER
      HEREBY WAIVES ITS RIGHTS TO A JURY TRAIL OF ANY CLAIM OR CAUSE OF ACTION BASED
      UPON OR ARISING OUT OF THIS NOTE.
      The
      scope of this waiver is intended to be all-encompassing of any and all disputes
      that may be filed in any court and that related to the subject matter of this
      Note, including without limitation, contract claims, tort claims, breach of
      duty
      claims, and all other common law and statutory claims. Maker hereby acknowledges
      that this waiver is a material inducement to enter into a business relationship,
      that Holder has already relied on the waiver in entering into this Note and
      that
      Holder will continue to rely on the waiver in related future dealings. This
      waiver shall apply to any subsequent amendments, renewals, supplements or
      modifications to this Note.

     

    (d) All
      notices, consents and other communications provided for in this Note or
      otherwise required by law shall be in writing and may be given to or made upon
      the respective parties at the addresses specified in the first paragraph of
      this
      Note. Notices shall be effective upon the date of receipt; provided, however,
      that a notice sent by certified or registered U.S. mail, with postage prepaid,
      shall be presumed received no later than three (3) business days following
      the
      date of mailing. 

     

    (e) Time
      is
      of the essence with respect to this Note.


    
      
         

      

      
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    IN
      WITNESS WHEREOF,
      this
      Note has been executed and delivered by Maker on the ___ day of ____________,
      20__.

    


    
      	
              SPLINTERNET
                HOLDINGS, INC.

            
	 	 
	
              By:

            	   

	
              Name:

            	 
	
              Title:

            	 


    


    
      
         

      

      
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