EXHIBIT 10.10



                               SECURITY AGREEMENT

         THIS SECURITY AGREEMENT (this "Agreement"),  dated as of June 17, 1999,
is made and entered into by and among American United Global, Inc. ("AUGI"), and
Vogo Networks,  LLC, a Delaware  limited  liability  company of which  Executive
TeleCard,  Ltd.,  doing  business as eGlobe  ("EXTEL"),  is the only member (the
"Buyer").

         WHEREAS,  AUGI,  EXTEL and the Buyer are  parties to an Asset  Purchase
Agreement  dated July 10, 1998,  as amended,  including by Amendment No. 3 dated
June ___, 1999 (the "Purchase Agreement"); and

         WHEREAS,  as part  of the  purchase  price  for the  Assets  under  the
Purchase  Agreement  EXTEL is issuing to AUGI a Note,  in the form  attached  as
Exhibit  E to the  Purchase  Agreement  (the  "EXTEL  Note"),  in the  amount of
$500,000,  the principal and interest  payments under which EXTEL Note are to be
secured  by, and the Buyer is to grant a  security  interest  in, all  chattels,
assets  and  property  being  acquired  by the  Buyer at the  Closing  under the
Purchase Agreement, wherever located, and all products and proceeds thereof.

         WHEREAS,  capitalized  terms used in this  Agreement  and not otherwise
defined  herein  shall  have the  meanings  given  such  terms  in the  Purchase
Agreement; and

         NOW,  THEREFORE,  in consideration of the foregoing  premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

         1. GRANT OF SECURITY INTEREST.  For the purpose of securing the payment
of the  indebtedness  evidenced  by the  EXTEL  Note,  including  all  renewals,
extensions  and  modifications  thereof,  and  any  fees  and  expenses  payable
thereunder  (collectively,  the "Obligations"),  the Buyer hereby grants to AUGI
(subject to Section 2 hereof) a security  interest in the Assets being  acquired
by the Buyer at the  Closing  under the  Purchase  Agreement  and  described  in
Section 1.1(a) through (g) of the Purchase Agreement,  wherever located, and all
products and proceeds thereof (collectively, the "Collateral").

         2.  SUBORDINATION OF SECURITY  INTEREST.  The security interest granted
under this Agreement shall not be a first priority security interest,  but shall
be (1) subordinated in all respects to security interests granted (previously or
in the future) with respect to (i) the obligations described in paragraphs 1 and
2 of

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Exhibit B of  the  EXTEL  Note  and  (ii) the  obligations  being assumed by the
Buyer at the Closing under the Purchase Agreement,  and any interest,  penalties
or other  amounts which may accrue  thereon,  and (2) pari passu in all respects
with security  interests  granted in connection with future  indebtedness of the
Buyer.

         3.  COVENANTS. The Buyer covenants and agrees as follows:

             (a) The Buyer will notify AUGI  whenever any of the  Collateral  is
removed from the  location in which it is  delivered at the Closing,  except for
temporary periods in the normal and customary use thereof.

             (b) The Buyer will, in all material  respects,  maintain,  preserve
and keep the Collateral which are tangible  property  (whether owned in fee or a
leasehold  interest) in good repair and working order,  reasonable wear and tear
excepted,  and from time to time will make all necessary repairs,  replacements,
renewals and additions so that at all times the economic efficiency thereof will
be maintained and will pay and discharge all taxes, levies and other impositions
levied thereon as well as the cost of repairs to or maintenance of same.

             (c) The  Buyer  will  file,  and  pay all  costs  of  filing,  such
financing,  continuation and termination statements with respect to the security
interests created hereby as AUGI may reasonably request,  and AUGI is authorized
to do all things that it deems  necessary to perfect and continue  perfection of
the security interests created hereby.

             (d) The Buyer shall take or cause to be taken such further actions,
shall execute,  deliver, and file or cause to be executed,  delivered, and filed
such further documents and instruments, and shall obtain such consents as may be
necessary or as AUGI may reasonably  request to effectuate the purposes,  terms,
and conditions of this  Agreement,  whether  before,  at or after the closing of
transactions  contemplated hereby or the occurrence of an Event of Default under
the EXTEL Note.

         4. EVENT OF DEFAULT.  The  occurrence  of an Event of Default under the
EXTEL Note shall constitute an Event of Default hereunder.

         5. REMEDIES UPON EVENT OF DEFAULT.  Upon the  occurrence and during the
continuation  of an Event of Default,  AUGI may  exercise any and all rights and
remedies provided by the Uniform  Commercial Code (New York) or other applicable
law, as well as all other rights and remedies  possessed by AUGI pursuant to the
Purchase  Agreement,  all of which  shall (to the  extent  permitted  by law) be
cumulative.  Any  notice of sale,  lease or other  intended  disposition  of the
Collateral by AUGI sent to the Buyer at the address  hereinafter  set forth,  at
least


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ten  (10)  days  prior  to  such  action, shall constitute  reasonable notice to
the Buyer. AUGI may waive any Event of Default before or after the same has been
declared  without  impairing its right to declare a subsequent  Event of Default
hereunder.

         6. RELEASE  OF   SECURITY  INTEREST.   Upon  payment  in  full  of  all
Obligations,  AUGI shall release the security  interest created hereby and shall
execute  and  deliver  to  the  Buyer  such  termination  statements  and  other
agreements  and documents as the Buyer may  reasonably  request to evidence such
payment and release.

         7. NOTICES. All notices and other communications given or made pursuant
hereto  shall be in writing  and shall be deemed to have been duly given or made
as of the date  delivered,  mailed or  transmitted,  and shall be effective upon
receipt,  if  delivered  personally,  mailed by  registered  or  certified  mail
(postage  prepaid,  return  receipt  requested)  to the parties at the following
addresses  (or at such other  address for a party as shall be  specified by like
changes of address) or sent by electronic  transmission to the telecopier number
specified below:

                             (a)  If to the Buyer:

                             Vogo Networks, L.L.C.
                             2000 Pennsylvania Avenue, NW
                             Suite 4800
                             Washington, DC  20006
                             Telecopier No.:  202-882-8984
                             Attention:  Chairman

                             (b)   If to AUGI:

                             American United Global, Inc.
                             c/o Gersten, Savage & Kaplowitz LLP
                             101 E. 52nd Street
                             New York, NY 10022

         8. HEADINGS. The headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or  interpretation  of
this Agreement.

         9.  SEVERABILITY.  If any term or other  provision of this Agreement is
invalid,  illegal or  incapable  of being  enforced by any rule of law or public
policy, all other conditions and provisions of this Agreement shall nevertheless
remain in full force and effect so long as the  economic or legal  substance  of
the transactions  contemplated  hereby is not affected in any manner  materially
adverse to any party. Upon any  determination  that a term or other provision is
invalid,  illegal or incapable of being enforced, the parties shall negotiate in
good faith to modify this

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Agreement to effect the original intent of the parties as closely as possible so
that transactions contemplated hereby are fulfilled to the extent possible.

         10. ENTIRE AGREEMENT.  This Agreement (together with the EXTEL Note and
the Purchase Agreement,  as referred to or incorporated  herein) constitutes the
entire  agreement  of the  parties  and  supersedes  all  prior  agreements  and
undertakings,  both written and oral, between the parties,  or any of them, with
respect to the subject matter  hereof,  except as otherwise  expressly  provided
herein,  are not intended to confer upon any other person any rights or remedies
hereunder.

         11.  SPECIFIC  PERFORMANCE.   The  transactions  contemplated  by  this
Agreement are unique.  Accordingly,  each of the parties acknowledges and agrees
that, in addition to all other remedies to which it may be entitled, each of the
parties  hereto is entitled to a decree of specific  performance,  provided such
party is not in material default hereunder.

         12. ASSIGNMENT. Neither this Agreement nor any of the rights, interests
or obligations hereunder shall be assigned by any of the parties hereto (whether
by operation of law or otherwise) without the prior written consent of the other
party. Subject to the preceding sentence,  this Agreement shall be binding upon,
inure to the benefit of and be enforceable  by the parties and their  respective
successors and assigns.

         13. THIRD PARTY BENEFICIARIES. This Agreement shall be binding upon and
inure solely to the benefit of each party hereto, and nothing in this Agreement,
express or implied,  is intended  to or shall  confer upon any other  person any
right,  benefit  or remedy of any nature  whatsoever  under or by reason of this
Agreement.

         14.  FEES  AND  EXPENSES.  Except  as  otherwise  provided  for in this
Agreement, each party hereto shall pay its own fees, costs and expenses incurred
in connection with this Agreement and in the preparation for and consummation of
the transactions provided for herein.

         15.  AMENDMENT.  This  Agreement  may  not  be  amended  except  by  an
instrument in writing signed by the parties hereto.

         16.  GOVERNING  LAW.  All  corporate  law  matters  arising  under this
Agreement  shall be governed by and construed in accordance with the laws of the
State of New York, and all other matters  arising under this Agreement  shall be
governed by and construed in accordance  with the laws of the State of New York.
Notwithstanding  the foregoing,  it is the intention of the parties that, to the
extent local law would govern with respect to Collateral located in a particular
jurisdiction,  this Agreement shall create a security  interest or similar grant
of rights  under  such  local law with  respect  to  Collateral  located in such
jurisdiction.

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         17.  COUNTERPARTS.  This Agreement may be executed and delivered in one
or  more  counterparts,   and  by  the  different  parties  hereto  in  separate
counterparts, each of which when executed and delivered shall be deemed to be an
original  but all of which  taken  together  shall  constitute  one and the same
agreement.

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         IN WITNESS WHEREOF, the Buyer and AUGI have caused this Agreement to be
executed as of the date first above written.


                                 VOGO NETWORKS, LLC

                                 By:_______________________________
                                 Title:____________________________



                                 AMERICAN UNITED GLOBAL, INC.

                                 By:_______________________________
                                 Title:____________________________








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