Document:

Amended and Restated Promissory Note

 EXHIBIT 10.2 
  
 EASYLINK SERVICES CORPORATION 
 AMENDED AND RESTATED PROMISSORY NOTE 
  

	 $10,975,082
	 	Effective: September 1, 2003

  
 FOR VALUE RECEIVED EASYLINK SERVICES
CORPORATION, a Delaware corporation (“Company”), promises to pay to PTEK HOLDINGS, INC. (“Holder”), or its registered assigns, the principal sum of TEN MILLION NINE HUNDRED SEVENTY-FIVE THOUSAND EIGHTY-TWO and 00/100 DOLLARS
($10,975,082), or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from September 1, 2003 on the unpaid principal balance at the rates specified herein, payable as provided herein. 
  
 The following is a statement of the rights of Holder and the conditions to
which this Note is subject, and to which Holder, by the acceptance of this Note, agrees: 
  
 1.     Definitions. As used in this Note, the following capitalized terms have the following meanings: 
  
 “Acquired Debt” means, with respect to any specified Person, Indebtedness of any other Person existing at the time
such other Person merges with or into or becomes a Subsidiary of such specified Person, or Indebtedness incurred by such Person in connection with the acquisition of assets, including Indebtedness incurred in connection with such other Person
merging with or into or becoming a Subsidiary of such specified Person or the acquisition of such assets, as the case may be. 
  
 “Affiliate,” with respect to any Person, means (i) any director, officer or employee of such Person, (ii) any Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such Person, and (iii) any Person beneficially owning or holding 5% or more of any class of voting securities of such Person or any corporation of which such Person
beneficially owns or holds, in the aggregate, 5% or more of any class of voting securities. The term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a
Person, whether through the ownership of voting securities, by contract or otherwise. The term “Affiliate,” when used herein without reference to any Person shall mean an Affiliate of Company. 
  
 “Bankruptcy Law” shall mean Title 11, U.S. Code or any similar
federal, state or foreign bankruptcy, insolvency or similar law. 
  
 “Business Day” means any day other than a Saturday, a Sunday or a day on which commercial banks in New York City are required or authorized to be closed. 
  
 “Capital Lease” means, at any time, a lease with respect to which the lessee is required concurrently to recognize
the acquisition of an asset and the incurrence of a liability in accordance with GAAP. 

 “Capital Lease Obligation” means, as to any Person, the obligations of such Person under a
lease that are required to be classified and accounted for as capital lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at the time any determination thereof is to be made shall be the amount of the
liability in respect of a capital lease that would at such time be so required to be capitalized on a balance sheet in accordance with GAAP. 
  
 “Custodian” shall mean any custodian, receiver, trustee, assignee, sequester, liquidator or similar official under any Bankruptcy Law.

  
 “Event of Default” has the meaning given in Section
6 hereof. 
  
 “Existing Debt” has the meaning given in
Section 3(b) hereof. 
  
 “GAAP” means generally accepted
accounting principles as in effect from time to time in the United States of America. 
  
 “Guaranty” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in
effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  
 (a)     to purchase such
indebtedness or obligation or any property constituting security therefor; 
  
 (b)     to advance or supply funds (i) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income
statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such indebtedness or obligation; 
  
 (c)     to lease properties or to purchase properties or services primarily for the purpose of assuring the owner of
such indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 
  
 (d)     otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 

 
 In any computation of the indebtedness or other liabilities of the obligor
under any Guaranty, the indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be direct obligations of such obligor. 
  
 “Holder” shall mean the Person specified in the introductory paragraph of this Note or any Person who shall at the time be the registered holder
of this Note. 
  
 “Indebtedness” with respect to any
Person means, at any time, without duplication, 
  

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 (a)     its liabilities for borrowed money and its redemption
obligations in respect of mandatorily redeemable Preferred Stock; 
  
 (b)     its liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary course of business but including all liabilities
created or arising under any conditional sale or other title retention agreement with respect to any such property); 
  
 (c)     all liabilities appearing on its balance sheet in accordance with GAAP in respect of Capital Leases;

  
 (d)     all liabilities
for borrowed money secured by any Lien with respect to any property owned by such Person (whether or not it has assumed or otherwise become liable for such liabilities); 
  
 (e)     all its liabilities in respect of letters of credit or instruments serving a
similar function issued or accepted for its account by banks and other financial institutions (whether or not representing obligations for borrowed money); 
  
 (f)     Swaps of such Person; and 
  
 (g)     any Guaranty of such Person with respect to liabilities of a type described in
any of clauses (a) through (f) hereof. 
  
 Indebtedness of any
Person shall include all obligations of such Person of the character described in clauses (a) through (g) to the extent such Person remains legally liable in respect thereof notwithstanding that any such obligation is deemed to be extinguished under
GAAP. 
  
 “Lien” means, with respect to any Person, any
mortgage, lien, pledge, charge, security interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital
Lease, upon or with respect to any property or asset of such Person. 
  
 “Material Subsidiary” means any Subsidiary of Company which at the date of determination is a “significant subsidiary” as defined in Rule 1-02(w) of Regulation S-X under the Securities Act and the Exchange Act (as such
Regulation is in effect on the date hereof). 
  
 “Obligations” shall mean and include all loans, advances, debts, liabilities and obligations, howsoever arising, owed by Company to Holder of every kind and description (whether or not evidenced by any note or instrument and
whether or not for the payment of money), now existing or hereafter arising under or pursuant to the terms of this Note and the other Operative Agreements, including, all interest, fees, charges, expenses, attorneys’ fees and costs and
accountants’ fees and costs chargeable to and payable by Company hereunder and thereunder, in each case, whether direct or indirect, absolute or contingent, due or to become due, and whether or not arising after the commencement of a proceeding
under Title 11 of the United States Code (11 U.S.C. Section 101 et 
  

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 seq.), as amended from time to time (including post-petition interest) and whether or not allowed or allowable as a claim
in any such proceeding. 
  
 “Operative Agreements” shall
mean the Settlement Agreement, the Security Documents, and any and all agreements and documents to be executed and delivered in connection therewith. 
  
 “Original Note” shall mean that certain Promissory Note in the original stated principal amount of $35,000,000 and dated as of January 31, 2001,
issued by Swift Telecommunications, Inc. in favor of AT&T Corp., as amended, restated and replaced by that certain Amended and Restated Promissory Note in the original stated principal amount of $35,000,000 and dated as of January 31, 2001,
issued by EasyLink (under the name Mail.com, Inc.), as further amended, restated and modified by that certain Promissory Note in the original principal amount of $10,000,000 and dated effective as of June 1, 2001, issued by EasyLink. 
  
 “Person” means an individual, partnership, corporation, limited
liability company, association, trust, unincorporated organization, or a government or agency or political subdivision thereof. 
  
 “Preferred Stock” means any class of capital stock of a corporation that is preferred over any other class of capital stock of such corporation
as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such corporation. 
  
 “Purchase Money Indebtedness” means 
  
 (a)     Indebtedness of the Company or any Wholly-Owned Subsidiary incurred (within 180 days of such purchase) to
finance the purchase of any assets (including the purchase of equity interests of Persons that are not Affiliates of the Company) of the Company or any Wholly-Owned Subsidiary, provided that the amount of Indebtedness thereunder does not exceed 100%
of the purchase cost of such assets; or 
  
 (b)     Indebtedness of the Company or any Wholly-Owned Subsidiary which refinances indebtedness referred to in clause (a) of this definition, provided that such refinancing satisfies the proviso of such clause (a).

  
 “Settlement Agreement” shall mean that certain
Settlement Agreement dated as of October 20, 2003 by and among Holder, the Company and AT&T Corp. 
  
 “Subsidiary” means, as to any Person, any corporation, association or other business entity in which such Person or one or more of its
Subsidiaries or such Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing
similar functions) of such entity, and any partnership or joint venture if a 50% or more interest in the profits or capital thereof is owned by such Person or one or more of its Subsidiaries or such Person and one or more of its Subsidiaries (unless
such partnership can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the 
  

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 context otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of Company.

  
 “Swaps” means, with respect to any Person, payment
obligations with respect to interest rate swaps, currency swaps and similar obligations obligating such Person to make payments, whether periodically or upon the happening of a contingency. For the purposes of this Agreement, the amount of the
obligation under any Swap shall be the amount determined in respect thereof as of the end of the then most recently ended fiscal quarter of such Person, based on the assumption that such Swap had terminated at the end of such fiscal quarter, and in
making such determination, if any agreement relating to such Swap provides for the netting of amounts payable by and to such Person thereunder or if any such agreement provides for the simultaneous payment of amounts by and to such Person, then in
each such case, the amount of such obligation shall be the net amount so determined. 
  
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing (a) the then outstanding principal amount of such Indebtedness into (b) the
total of the product obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of
years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment. 
  
 “Wholly-Owned Subsidiary” means, at any time, any Subsidiary one hundred percent (100 %) of all of the equity interests (except directors’
qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly-Owned Subsidiaries at such time; provided that in the event that the Company or its other Wholly-Owned Subsidiaries do
not own one hundred percent (100%) of the equity interests of a Subsidiary, but the only other shareholders of such Subsidiary are Affiliates, employees, officers and/or directors of the Company or another Wholly-Owned Subsidiary, then such
Subsidiary shall be deemed a Wholly-Owned Subsidiary for purposes of this Agreement. 
  
 2.     Interest. The unpaid principal balance hereof shall bear interest at a rate equal to 12% per annum. The late payment interest rate (which will be applicable during any period in which
an Event of Default exists or in the event of a late payment) shall be at 300 basis points (that is, 3%) higher than the rate that would be applicable if there were no Event of Default or late payment. 
  
 3.     Scheduled Installments of Principal and
Interest. 
  
 (a)    
Principal of and interest on this Note shall be payable quarterly in cash commencing December 1, 2003 and on the first Business Day of each March, June, September and December thereafter in accordance with the payment schedule attached hereto as
Schedule A. Each quarterly payment shall be applied first to repay accrued and unpaid interest on the Note and then to reduce the outstanding principal balance of the Note. Notwithstanding anything to the contrary herein or on Schedule A, all unpaid
principal of and accrued but unpaid interest on the Note shall be paid in full by June 1, 2006. 
  
 (b)     EasyLink shall not make any optional prepayment of principal of or interest on any of the notes restructured
as of June 1, 2001 and issued to its equipment lessors or to 
  

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 George Abi Zeid, or the 10% senior convertible notes or 7% Subordinated Convertible Debentures
outstanding as of the date of issuance hereof (collectively, the “Existing Debt”) unless EasyLink simultaneously offers to the Holder to make a payment of principal of and/or interest on the Note in an amount proportionate to the amount of
underlying debt to such other creditors on the same terms and conditions. 
  
 4.     Optional Prepayments. At any time and from time to time, the Company may prepay at its option all or any part of the Note and accrued interest thereon. Partial prepayments of
principal shall be applied in inverse order of maturity; accordingly, the quarterly payments of $800,000 provided in Schedule A shall not be reduced after giving effect to such partial prepayments unless and until the remaining outstanding amount of
principal of and accrued but unpaid interest on the Note is less than $800,000. 
  
 5.     Representations and Warranties of Company. The Company hereby represents and warrants to the Holder that: 
  
 (a)     This Note, when issued, sold and delivered for the consideration provided for
herein, will be duly and validly issued, fully paid and nonassessable. 
  
 (b)     The offer and sale of this Note solely to Holder is exempt from the registration and prospectus delivery requirements of the Securities Act of 1933, as amended (the “Securities
Act”) and the securities registration and qualification requirements of the currently effective provisions of the securities laws of all applicable states. 
  
 (c)     The Company has the requisite corporate power and authority to execute and
deliver this Note and to consummate the transactions contemplated hereby. The execution and delivery by the Company of this Note, and the consummation by the Company of the transactions contemplated hereby, have been duly authorized by all necessary
corporate action on the part of the Company. This Note has been duly executed and delivered by the Company and constitutes a valid and binding obligation of the Company, enforceable against it in accordance with its terms, subject to applicable
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally and to general principles of equity. 
  
 6. Events of Default. An “Event of Default” shall exist if any of the following conditions or events shall
occur and be continuing: 
  
 (a)     Company defaults in the payment of any interest on the Note when the same becomes due and payable and the default continues for a period of 30 days; or 
  
 (b)     Company defaults in the payment
of any principal or premium, if any, on the Note when the same becomes due and payable, whether at maturity or otherwise; or 
  
 (c)     Company breaches in any material respect any representation or warranty contained in this Note or the any of
the Operative Agreements, or fails to observe or perform any other covenant or agreement contained in this Note or the Operative Agreements required 
  

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 to be performed by it, and such breach is not cured or such failure continues for a period of 60 days
after the receipt of written notice by Company from the Holder stating that such notice is a “Notice of Default”; provided, however, that failure by the Company to observe or perform the terms and provisions of Section 8 of the Settlement
Agreement shall be an Event of Default if such failure to observe or perform the terms and provisions of said Section 8 continues for a period of 10 days after the receipt of written notice by the Company from the Holder stating that such notice is
a “Notice of Default”; or 
  
 (d)     a default under any credit agreement, mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by Company or any Material
Subsidiary (or the payment of which is Guaranteed by Company or any of Company’s Material Subsidiaries), whether such Indebtedness or Guarantee exists on the date of this Agreement or is created hereafter, which default (i) is caused by a
failure to pay when due any principal of or interest on such Indebtedness within the grace period, if any, provided for in such Indebtedness (which failure continues beyond any applicable grace period) (a “Payment Default”) or (ii) results
in the acceleration of such Indebtedness prior to its express maturity (without such acceleration being rescinded or annulled) and, in each case, the principal amount of such Indebtedness, together with the principal amount of any other such
Indebtedness under which there is a Payment Default or the maturity of which has been so accelerated, aggregates $15,000,000 or more and after written receipt by Company from the Holder stating that such notice is a “Notice of Default”; or

  
 (e)     a final,
non-appealable judgment or final non-appealable judgments (other than any judgment as to which a reputable insurance company has accepted full liability) for the payment of money are entered by a court or courts of competent jurisdiction against
Company or any Material Subsidiary and remain unstayed, unbonded or undischarged for a period (during which execution shall not be effectively stayed) of 60 days, provided that the aggregate of all such judgments exceeds $5,000,000; or 

 
 (f)     Company or any Material
Subsidiary pursuant to or within the meaning of any Bankruptcy Law: (i) commences a voluntary case or proceeding; or (ii) consents to the entry of an order for relief against such company or any Material Subsidiary in an involuntary case or
proceeding; or (iii) consents to the appointment of a Custodian of such company or any Material Subsidiary or for all or any substantial part of its property; or (iv) makes a general assignment for the benefit of its creditors; or (v) take corporate
or similar action to effect any of the foregoing; or 
  
 (g)     a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: (i) is for relief against Company or any Material Subsidiary in an involuntary case or proceeding; or (ii) appoints a
Custodian of such company or any Material Subsidiary or for all or any substantial part of the property of such company or any Material Subsidiary; or (iii) orders the liquidation of such company or any Material Subsidiary; and in each case referred
to in this subsection (g) the order or decree remains unstayed and in effect for 60 days. 
  

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 7.     Rights of Holder upon Default. 
  
 (a)     If an Event of Default with
respect to Company described in Section 6(f) or (g) has occurred (other than an Event of Default described in clause (i) of Section 6(f) or described in clause (v) of Section 6(f) by virtue of the fact that such clause encompasses clause (i) of
Section 6(f)), the Note then outstanding shall automatically become immediately due and payable. If any other Event of Default has occurred and is continuing, the Holder may at any time at its option, by notice or notices to Company, declare the
Note to be immediately due and payable. 
  
 (b)     Notwithstanding the foregoing, if any Event of Default described in Section 6 (d) has occurred and is continuing and the Payment Default giving rise to such Event of Default is cured or the acceleration giving
rise to such Event of Default is annulled or rescinded within 30 days after receipt of written notice of such Event of Default by Company from the Holder of the Note stating that such notice is a “Notice of Default,” then such Event of
Default and any declaration under Section 7 (a) above shall be deemed automatically annulled and rescinded. Upon the Note becoming due and payable under Section 7, whether automatically or by declaration, the Note will forthwith mature and the
entire unpaid principal amount hereof, plus all accrued and unpaid interest thereon, shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. 

 
 (c)     If any Default or Event of
Default has occurred and is continuing, and irrespective of whether the Note has become or has been declared immediately due and payable under Section 7, the holder of the Note at the time outstanding may proceed to protect and enforce its rights by
an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in the Operative Agreements, or for an injunction against a violation of any of the terms hereof or thereof,
or in aid of the exercise of any power granted hereby or thereby or by law or otherwise. 
  
 8.     Representations and Warranties of Holder. By its acceptance of this Note, the Holder hereby represents and warrants that the Holder is aware of Company’s business affairs and
financial condition, and has acquired information about Company sufficient to reach an informed and knowledgeable decision to acquire this Note. The Holder is acquiring this Note for its own account for investment purposes only and not with a view
to, or for the resale in connection with, any “distribution” thereof in violation of the Act. 
  
 9.     Indebtedness. 
  
 Without the consent of Holder, the Company shall not, nor shall it permit any of its Wholly-Owned Subsidiaries to, create, incur, issue, assume, guarantee
or otherwise become liable with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt) that is pari passu in right of payment with this Note. The foregoing limitation on the incurrence of Indebtedness will not apply
to any of the following incurrences of Indebtedness (without duplication): 
  
 (a)     Indebtedness evidenced by this Note; 
  

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 (b)     Up to $80 million aggregate principal amount of Indebtedness
(other than this Note) that is by its terms pari passu in right of payment with this Note (but such pari passu right of payment shall not apply to the security interests securing this Note); 
  
 (c)     Indebtedness that is by its
terms subordinated to this Note; 
  
 (d)     Existing Indebtedness (other than this Note but including the restructure notes issued contemporaneously with the Original Note); 
  
 (e)     Acquired Debt of a Person incurred prior to the date upon which such Person was
acquired by the Company and its Wholly-Owned Subsidiaries (excluding Indebtedness incurred by such entity other than in the ordinary course of its business in connection with, or in contemplation of, such entity being so acquired); 
  
 (f)     the incurrence of Purchase Money
Indebtedness by the Company and its Wholly-Owned Subsidiaries in an amount not to exceed the cost of construction, acquisition or improvement of assets used in any business of the Company and its Subsidiaries; 
  
 (g)     Swaps of the Company and its
Wholly-Owned Subsidiaries covering Indebtedness of the Company and its Wholly-Owned Subsidiaries to the extent the notional principal amount of such Swap does not exceed the principal amount of the Indebtedness to which such Swap relates;

  
 (h)     Indebtedness of
the Company and its Wholly-Owned Subsidiaries incurred in the ordinary course of business in respect of performance bonds or letters of credit of the Company and its Wholly-Owned Subsidiaries or surety bonds provided by the Company and its
Wholly-Owned Subsidiaries; 
  
 (i)     the incurrence by the Company and its Wholly-Owned Subsidiaries of Indebtedness issued in exchange for, or the proceeds of which are used to extend, refinance, renew, replace, substitute or refund in whole or in
part Indebtedness permitted to be incurred under clauses (a), (b), (d), (e), (f) or (g) above (“Refinancing Indebtedness”); provided, however, that: (A) the principal amount of such Refinancing Indebtedness shall not exceed the principal
amount and accrued interest of the Indebtedness so extended, refinanced, renewed, replaced, substituted or refunded and any premiums payable and reasonable fees, expenses, commissions and costs in connection therewith; (B) the terms, provisions and
conditions of such Refinancing Indebtedness, taken as a whole, shall not be materially more burdensome to the Company than the terms, provisions and conditions of the Indebtedness so extended, refinanced, renewed, replaced, substituted or refunded
or would otherwise adversely affect the ability of the Company to pay or perform its obligations hereunder or otherwise materially adversely affect the rights of the Holder under any of the Operative Agreements; and (C) the Refinancing Indebtedness
shall have a final maturity later than, and a Weighted Average Life to Maturity equal to or greater than, the final maturity and Weighted Average Life to Maturity, respectively, of the Indebtedness being extended, refinanced, renewed, replaced or
refunded (a “Permitted Refinancing”); or 
  

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 (j)     Indebtedness under Capital Lease Obligations of the Company
and its Wholly-Owned Subsidiaries. 
  
 For purposes of determining
compliance with this Section 9, in the event that an item of Indebtedness meets the criteria of more than one of the categories described in clauses (a) through (j) above or is permitted to be incurred pursuant to the first sentence of this Section
9 and also meets the criteria of one or more of the categories described in clauses (a) through (j) above, the Company shall, in its sole discretion, classify such item of Indebtedness in any manner that complies with this Section 9 and may from
time to time reclassify such item of Indebtedness in any manner in which such item could be incurred at the time of such reclassification. Accrual of interest and the accretion of accreted value will not be deemed to be an incurrence of Indebtedness
for purposes of this Section 9. 
  
 10.    
Security. This Note is entitled to the benefits of the Security Documents pursuant to which Company and certain of its Affiliates have granted liens to secure the obligations hereunder. Notwithstanding anything to the contrary contained in
the Security Documents, Holder agrees that Company and its Affiliates has or may grant a senior lien on accounts receivable to secure a working capital loan of up to $3,000,000 (the “Working Capital Loan”), provided that such working
capital loan cannot be used to prepay any of the Existing Debt. Holder agrees that the liens and security interests contained in the Security Documents shall be subordinate to the liens and security interests on accounts receivable securing the
Working Capital Loan, and Holder shall enter into such customary agreements with the lender under the Working Capital Loan as such lender may reasonably request in order to facilitate such loan. 
  
 11.     Successors and Assigns. Subject to the
restrictions on transfer described in Sections 13 below, the rights and obligations of Company and Holder of this Note shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of the parties. 
  
 12.     Waiver and Amendment. Any provision of
this Note may be amended, waived or modified only upon the written consent of Company and Holder. 
  
 13.     Assignment by Company. Neither this Note nor any of the rights, interests or obligations hereunder may be assigned, by
operation of law or otherwise, in whole or in part, by Company without the prior written consent of Holder except in connection with an assignment in whole to a successor corporation to Company in connection with a reincorporation of Company in
another state of the United States. The Holder of this Note may assign this Note, in whole or in part, at any time without the prior consent of the Company. 
  
 14.     Notices. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be
deemed to have been duly given if personally delivered or mailed by registered or certified mail, postage prepaid, or by recognized overnight courier or personal delivery at the respective addresses of the parties as set forth in the Settlement
Agreement or on the register maintained by Company. Any party hereto may by notice so given change its address for future notice hereunder. Notice shall conclusively be deemed to have been given when received. 
  

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 15.     Payment. Payment shall be made in lawful tender of the United States.

  
 16.     Expenses; Waivers. If
action is instituted to collect this Note, Company promises to pay all costs and expenses, including, without limitation, reasonable attorneys’ fees and costs, incurred in connection with such action. Company hereby waives notice of default,
presentment or demand for payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to this instrument. 
  
 17.     No Impairment. The Company will not, by amendment of its Articles and/or Certificate of Incorporation or Bylaws, or
through reorganization, consolidation, merger, dissolution, issue or sale of securities, sale of assets or any other voluntary action, willfully avoid or seek to avoid the observance or performance of any of the terms of this Note, but will at all
times and in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder under this Note against wrongful impairment. 
  
 18.     Severability. If one or more provisions of
this Note are held to be unenforceable under applicable law, such provision(s) shall be excluded from this Note and the balance of the Note shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its
terms. 
  
 19.     Governing Law. This
Note and all actions arising out of or in connection with this Note shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts of law provisions of the State of New York, or of any other
state. 
  
 20.     No Novation. This
Amended and Restated Promissory Note amends and restates in its entirety the Original Note, and is made in substitution of the Original Note, and not in satisfaction of the Original Note. This Amended and Restated Promissory Note shall not be deemed
to constitute a novation. 
  

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 IN WITNESS WHEREOF, Company has caused this Note to be issued as of the date first written above.

  
  

	 EASYLINK SERVICES CORPORATION,
 a Delaware
corporation
  

	
	 By:
 /s/ Gerald
Gorman

	

	 Name: Gerald Gorman
 Title:
  Chairman

  

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 Schedule A 
  

	 Payment Schedule

	 Payment Date

	 	 Principal Payment

	 	 Interest Payment

	 	 Total Payment
 Amount

	 1-Dec-03
	 	$   470,747.48	 	$329,252.52	 	$        800,000
	 1-Mar-04
	 	$   484,869.90	 	$315,130.10	 	$        800,000
	 1-Jun-04
	 	$   499,416.00	 	$300,584.00	 	$        800,000
	 1-Sep-04
	 	$   514,398.48	 	$285,601.52	 	$        800,000
	 1-Dec-04
	 	$   529,830.44	 	$270,169.56	 	$        800,000
	 1-Mar-05
	 	$   545,725.35	 	$254,274.65	 	$        800,000
	 1-Jun-05
	 	$   562,097.11	 	$237,902.89	 	$        800,000
	 1-Sep-05
	 	$   578,960.02	 	$221,039.98	 	$        800,000
	 1-Dec-05
	 	$   596,328.82	 	$203,671.18	 	$        800,000
	 1-Mar-06
	 	$   614,218.69	 	$185,781.31	 	$        800,000
	 1-Jun-06
	 	$5,578,491.70	 	$167,354.75	 	$5,745,846.45Warrant to Purchase 250,000 Shares of Common Stock

 EXHIBIT 10.3 
  
 EXHIBIT A 
  
 NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
REGISTERED OR QUALIFIED UNDER THE PROVISIONS OF ANY APPLICABLE STATE SECURITIES LAWS. NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE HEREOF MAY BE SOLD, OFFERED FOR SALE, PLEDGED, TRANSFERRED, OR ASSIGNED, NOR MAY THIS WARRANT BE
EXERCISED, EXCEPT IN A TRANSACTION WHICH IS EXEMPT UNDER THE PROVISIONS OF THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, AND IN THE CASE OF AN EXEMPTION, ONLY IF THE COMPANY HAS RECEIVED AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
  
 PTEK HOLDINGS, INC. 
  
 WARRANT TO PURCHASE 250,000 SHARES 
 OF COMMON STOCK 
  
 THIS CERTIFIES THAT, for value received, AT&T CORP., a New
York corporation, or its registered assigns (“Holder”) is entitled, subject to the terms and conditions of this Warrant, to subscribe for and purchase 250,000 shares (as adjusted pursuant to Section 4 hereof, the
“Shares”) of the fully paid and nonassessable Common Stock, par value $.01 per share (“Common Stock”), of PTEK HOLDINGS, INC., a Georgia corporation (the “Company”), at
the price of $9.36 per share (such price and such other price as shall result, from time to time, from the adjustments specified in Section 4 hereof is herein referred to as the “Warrant Price”), subject to the provisions and
upon the terms and conditions hereinafter set forth. As used herein, (a) the term “Date of Grant” shall mean October 20, 2003, and (b) the term “Other Warrants” shall mean any warrant issued upon
transfer or partial exercise of or in lieu of this Warrant. The term “Warrant” as used herein shall be deemed to include Other Warrants unless the context clearly requires otherwise. 
  
 1. Term. The purchase right represented by this Warrant is
exercisable, in whole or in part, at any time and from time to time on or after the Date of Grant and prior to the date that is seven (7) years after the Date of Grant. 
  
 2. Method of Exercise; Payment; Issuance of New Warrant. (a) Subject to compliance with the terms and
conditions of this Warrant and applicable securities laws, the purchase right represented by this Warrant may be exercised by Holder, in whole or in part and from time to time, at the election of Holder, by the surrender of this Warrant (with the
notice of exercise substantially in the form attached hereto as Exhibit A duly completed and executed) at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account
designated by the Company of an amount equal to the then applicable Warrant Price multiplied by the number of Shares then being purchased. The person or persons in whose name(s) any certificate(s) representing the Shares shall be issuable upon
exercise of this Warrant shall be deemed to have become the holder(s) of record of, and 

 shall be treated for all purposes as the record holder(s) of, the shares represented thereby (and such shares shall be
deemed to have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is exercised. In the event of any exercise of the rights represented by this Warrant, certificates for the shares of stock so
purchased shall be delivered to the holder hereof as soon as possible and in any event within thirty (30) days after such exercise and, unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares, if
any, with respect to which this Warrant shall not then have been exercised shall also be issued to the holder hereof as soon as possible and in any event within such thirty-day period; provided, however, if requested by Holder, the
Company shall cause its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the holder exercising this Warrant) within the time period required to settle any
trade made by Holder after exercise of this Warrant. 
  
 (b)    At such times as the Warrant Price exceeds the Fair Market Value (as herein defined) of a share of the Company’s Common Stock, as determined pursuant to subparagraph (c) hereof, Holder may, at its option, in
lieu of tendering funds as provided in subparagraph (a) above, exercise this Warrant by submitting, during normal business hours, a duly executed notice of exercise marked to reflect “Net Issue Exercise,” and specifying the number of
Shares as to which the Warrant is then being exercised. Upon a Net Issue Exercise, Holder shall be entitled to receive, in lieu of the number of Shares as to which the Warrant is then being exercised, that number of Shares as shall equal the value
of this Warrant (or the portion thereof being exercised by net issue exercise), computed by the Company as of the date of surrender of this Warrant to the Company using the following formula: 
  

	 X  =
	 	Y x (A-B)	 	 
	 	 	 A
  
	 	 
	 Where X  =
	 	the number of Shares to be issued to Holder;
	 Y  =
	 	the number of Shares with respect to which the net issue exercise is being made (at the date of such calculation).
	 A  =
	 	the Fair Market Value of one share of the Company’s Common Stock (as of the date of such calculation);
	 B  =
	 	the Warrant Price (as adjusted to the date of such calculation).

  
 (c)    The “Fair Market Value” of a share of Common Stock as of a particular date (the “Determination Date” shall mean: 
  
 (i)     if the Common Stock is then traded on a securities exchange, the average of the Daily Selling
Price (as herein defined) of the Common Stock on the principal securities exchange on which the Common Stock shall then be traded for each of the ten trading days immediately prior to the Determination Date; 
  
 (ii)     if the Common Stock is not then traded on a
securities exchange but is then traded in the Nasdaq Stock Market or other over-the-counter system, the average of the Daily Selling Price for the Common Stock for each of the ten trading days immediately prior to the Determination Date; or

  

 2 

 (iii)     if there shall then be no public market for the Common Stock, the fair
market value of a share of Common Stock as determined in good faith by the Company. 
  
 The “Daily Selling Price” of a share of Common Stock, on any day, shall be the average of the high and low sale prices on such day or, if there shall be no sales on such day, the average of the closing bid and ask prices for such
day. 
  
 3. Stock Fully Paid; Reservation of Shares.
All Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes, liens and
charges with respect to the issue thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of the purchase
rights evidenced by this Warrant, a sufficient number of shares of its Common Stock to provide for the exercise of the rights represented by this Warrant. 
  
 4. Adjustment of Warrant Price and Number of Shares. The number and kind of securities purchasable upon the exercise of this Warrant and the
Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
  
 (a) Reclassification or Merger. In case of any reclassification or change of securities of the class issuable upon exercise of this Warrant
(other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or into another corporation (other than a merger
with another corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this Warrant), or in case of any sale of all
or substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the holder of this Warrant a new Warrant (in form and substance satisfactory to the
holder of this Warrant), or the Company shall make appropriate provision without the issuance of a new Warrant, so that the holder of this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed
that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Common Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property
receivable upon such reclassification, change, merger or sale by a holder of the number of shares of Common Stock then purchasable under this Warrant. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Section 4. The provisions of this Section 4(a) shall similarly apply to successive reclassifications, changes, mergers and sales. 
  
 (b) Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding
and unexpired shall subdivide or combine its outstanding shares of Common Stock, the Warrant Price shall be proportionately decreased and the number of Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the
Warrant Price shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in the case of a combination. 
  

 3 

 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant
is outstanding and unexpired shall (i) pay a dividend with respect to its Common Stock payable in Common Stock, then the Warrant Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or
distribution, to that price determined by multiplying the Warrant Price in effect immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Common Stock outstanding immediately
prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Common Stock outstanding immediately after such dividend or distribution; or (ii) make any other distribution with respect to Common
Stock (except any distribution specifically provided for in Sections 4(a) and 4(b) and other than ordinary cash dividends declared by the board of directors pursuant to a regular dividend program adopted by the board of directors), then, in each
such case, provision shall be made by the Company such that the holder of this Warrant shall receive upon exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Shares as of the record
date fixed for the determination of the shareholders of the Company entitled to receive such dividend or distribution. 
  
 (d) Adjustment of Number of Shares. Upon each adjustment in the Warrant Price, the number of Shares purchasable hereunder shall be adjusted,
to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant Price by a fraction, the numerator of which shall be the Warrant Price immediately prior to such
adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 
  
 5. Notice of Adjustments. Whenever the Warrant Price or the number of Shares purchasable hereunder shall be adjusted pursuant to Section 4 hereof, the Company shall make a certificate signed by its chief
financial officer or controller setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the Warrant Price and the number of Shares purchasable
hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be mailed (without regard to Section 13 hereof, by first class mail, postage prepaid) to Holder. 
  
 6. Fractional Shares. No fractional shares of Common Stock will
be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the Fair Market Value of the Common Stock on the date of exercise. 
  
 7. Rights as Shareholders; Information. No holder of this
Warrant, as such, shall be entitled to vote or receive dividends or be deemed the holder of Common Stock which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the
holder of this Warrant, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive notice of meetings, or to
receive dividends or subscription rights or otherwise until this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 
  

 4 

 8. Transfer and Exchange. The Company will maintain a register containing the names and
addresses of Holder or Holders of this Warrant. Any registered Holder may change such registered holder’s address as shown on the warrant register by written notice to the Company requesting such change. Any notice or written communication
required or permitted to be given to Holder may be delivered or given by mail to Holder as shown on the warrant register and at the address shown on the warrant register. Until any transfer of this Warrant is made in the warrant register, the
Company may treat the registered Holder of this Warrant as the absolute owner hereof for all purposes; provided, however, that if and when this Warrant is properly assigned in blank, the Company may (but shall not be required to) treat
the bearer hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary. This Warrant may not be transferred or assigned without compliance with all applicable federal and state securities laws by the transferor
and the transferee (including the delivery of investment representation letters and legal opinions satisfactory to the Company). Subject to the provisions of this Warrant with respect to compliance with the Securities Act of 1933, as amended (the
“Act”), this Warrant and all rights hereunder may be transferred by Holder, in whole but not in part, on the books of the Company maintained for such purpose at the principal office of the Company, upon surrender of this
Warrant with a properly executed assignment in the form of Exhibit B hereto (the “Assignment Form”) and upon payment of any necessary transfer tax or other governmental charge imposed upon such transfer. 
  
 9. Compliance with Securities Laws. Holder, by acceptance
hereof, agrees that, absent an effective registration statement filed with the Securities and Exchange Commission (the “SEC”) under the Act, covering the disposition or sale of this Warrant or the Shares 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 Warrants or Shares, as the case may be, unless either (A)
the Company has received an opinion of counsel, in form and substance reasonably 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 SEC Rule 144. By acceptance of this Warrant, Holder hereby represents, warrants and covenants that any shares of stock purchased 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 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 Holder to evaluate the merits and risks of
its investment in the Company; that 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 Holder understands that the shares of stock acquired
pursuant to the exercise of this Warrant will not be registered under the Act (unless otherwise required pursuant to exercise by Holder of the registration rights, if any, previously granted to the registered Holder) and will be “restricted
securities” within the meaning of Rule 144 under the Act and that the exemption from registration under Rule 144 will not be available until the applicable holding period has been satisfied and 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 Holder upon exercise of this Warrant
may have affixed thereto a legend substantially in the following form: 
  

 5 

 THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO
OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933. 
  
 10. Registration Rights. 
  
 (a) Piggy-Back Rights. If at any time Registrable Shares (as defined below) are outstanding, the Company proposes to file a registration
statement under the Act with respect to an offering of shares of Common Stock by the Company solely for cash (other than a registration statement (i) on Form S-8 or any successor form or in connection with any employee or director welfare, benefit
or compensation plan, (ii) on Form S-4 or any successor form or in connection with an exchange offer, (iii) in connection with a rights offering or a dividend reinvestment and share purchase plan offered exclusively to existing holders of Common
Stock, (iv) in connection with an offering solely to employees of the Company or its affiliates, or (v) relating to a transaction pursuant to Rule 145 of the Securities Act), and such registration statement permits the inclusion of the Registrable
Shares (a “Piggyback Registration”), the Company will give Holder written notice thereof promptly and, subject to Section 10(b), shall include in such registration all the Registrable Shares requested to be included therein
pursuant to the written request of Holder received within ten (10) days after delivery of the Company’s notice. As used herein, the term “Registrable Shares” shall mean any Shares issued upon the exercise of this Warrant, excluding
(i) any Shares for which a registration statement relating to the sale thereof shall have become effective under the Act, (ii) any Shares that may be sold pursuant to Rule 144 under the Act, or (iii) any Shares eligible for sale pursuant to Rule
144(k) under the Act. 
  
 (b) Underwritten
Offerings. If the Piggyback Registration relates to an underwritten public offering, the Company shall so advise Holder as a part of the written notice given pursuant to Section 10(a). In such event, the right of Holder to participate in
such registration shall be conditioned upon Holder’s participation in such underwriting in accordance with the terms and conditions thereof. Should Holder propose to distribute its Registrable Shares through such underwriting, it shall
(together with the Company) enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected by the Company. If such proposed Piggyback Registration is an underwritten offering and the
managing underwriter for such offering advises the Company that the securities requested to be included therein exceeds the amount of securities that can be sold in such offering, any (i) securities to be sold by the Company in such offering, and
(ii) any other securities of the Company being sold by persons having contractual priority over Holder, shall have priority over Holder’s Registrable Shares, and the number of shares to be included by Holder in such registration shall be
reduced pro rata on the basis of the percentage of the outstanding Registrable Shares held by Holder and all other holders of Common Stock exercising equivalent registration rights. Nothing herein shall preclude the Company from being able to grant
registration rights with contractual priority over Holder’s registration rights described herein. 
  

 6 

 (c) Demand Registration Rights. At any time during which there shall be Registrable Shares
outstanding and the Company shall be eligible to register such Registrable Shares for resale by Holder on Form S-3 (or a successor “short-form” registration statement form), Holder shall be entitled to request, on one occasion, that the
Company so register all of the Registrable Shares then held by or issuable to Holder for resale, whereupon the Company shall, as expeditiously as practicable, file with the SEC under the Act a registration statement on Form S-3 (or such successor
form) concerning all such Registrable Shares and use its reasonable efforts to cause the registration statement to be declared effective. Notwithstanding the foregoing, the Company shall not be required to effect a demand registration under the Act
pursuant to this Section 10(c) (or to continue to seek to effect such a registration, if it shall have already commenced its efforts to effect such registration) if (i) the Company receives a request for registration under this Section 10(c) less
than 120 days preceding the anticipated effective date of a proposed underwritten public offering of securities of the Company; (ii) within 180 days prior to any such request for registration, a registration of securities of the Company has been
effected in which Holder had the right to participate pursuant to Section 10(b) hereof; or (iii) the Board of Directors of the Company reasonably determines in good faith that effecting such a demand registration at such time would have a material
adverse effect upon a proposed sale of all (or substantially all) of the assets of the Company, or a merger, share exchange, reorganization, recapitalization, or any other form of business combination or transaction affecting the capital structure
or equity ownership of the Company, or would otherwise be seriously detrimental to the Company because the Company was then in the process of raising capital in the public or private markets; provided, however, that the Company may not
fail to pursue a demand registration pursuant to this Section 10(c) for more 180 days in the aggregate (and shall resume its efforts, in any event, at such time as such transaction is consummated or no longer proposed, or the condition otherwise
causing such delay shall no longer exist). The Company shall promptly notify Holder in writing of any decision not to effect or seek to effect any such request for registration pursuant to this Section 10(c), which notice shall set forth in
reasonable detail the reason for such decision (provided that the Company shall not be required to disclose to Holder material non-public information concerning the Company or its plans or activities) and shall include an undertaking by the Company
promptly to notify Holder as soon as a demand registration may be effected. 
  
 (d) Registration Procedures. 
  
 (i) In the case of each registration effected by the Company pursuant to Section 10(a) or Section 10(c) hereof, the Company will keep Holder advised as to the initiation of such registration and as to the completion
thereof. The Company will use its reasonable efforts to: (A) cause such registration to be declared effective by the SEC, (B) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in
connection with such registration statement (including post-effective amendments) as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement in accordance
with the plan of distribution set forth therein; provided, however, that the Company shall not be required to maintain the effectiveness of any registration statement filed pursuant to Section 10(c) hereunder for a period exceeding six
months in duration, (C) obtain appropriate qualifications of the securities covered by such registration under state securities or “blue sky” laws in such jurisdictions as may be reasonably requested by Holder; provided,
however, that the Company shall not be obligated to qualify as a 
  

 7 

 foreign corporation to do business under the laws of any state in which it is not then qualified or to file any general
consent to service of process in any jurisdiction in which it is not otherwise subject to service in order to obtain any such qualification, (D) furnish such number of prospectuses and other documents incident thereto, including any amendment of or
supplement to the prospectus, as Holder from time to time may reasonably request, and (E) notify Holder, at any time when a prospectus relating thereto is required to be delivered under the Act, of the happening of any event as a result of which the
prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading or
incomplete in the light of the circumstances then existing, and at the request of any such holder, prepare and furnish to such holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as
thereafter delivered to the purchasers of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading
or incomplete in the light of the circumstances then existing. Notwithstanding the foregoing, the Company shall be entitled to withdraw or abandon any Piggyback Registration in which the Holder shall have requested to include any of the Registrable
Shares at the Company’s sole discretion and at any time upon notice to the Holder. 
  
 (ii) In connection with any registration statement pursuant to which Registrable Shares shall be registered, Holder hereby agrees: (A) to cooperate with the Company and to furnish to the Company all such information
in connection with the preparation of such registration statement and any filings with any state securities commissions as the Company may reasonably request, (B) to the extent required by the Act, to deliver or cause delivery of the prospectus
contained in such registration statement to any purchaser of the shares covered by such registration statement from Holder, and (C) to notify the Company of any sale of Registrable Shares by such Holder. Notwithstanding anything in this Agreement to
the contrary, if, after any registration statement to which the rights hereunder apply becomes effective (and prior to completion of all sales thereunder), the Board of Directors of the Company determines in good faith that the compliance with its
disclosure obligations thereunder or the failure of the Company to suspend sales of stock under the registration statement in order to amend or supplement the registration statement would have a material adverse effect on the Company, the Company
shall so notify each Holder participating in such registration and each Holder shall suspend any further sales under such registration statement until the Company advises the Holder that the registration statement has been amended or supplemented as
required or that conditions no longer exist which would warrant such suspension, provided that the Company may impose any such suspension(s) for no more than 45 days on each occasion and for no more than 45 days, in the aggregate, in
any 90 day period. 
  
 (iii) The Company shall bear all expenses
incurred by it in connection with the registration of the Registrable Shares pursuant to this Warrant. Such expenses shall include, without limitation, all printing, legal and accounting expenses incurred by the Company and all registration and
filing fees imposed by the SEC, any state securities commission or the Nasdaq National Market or, if the Common Stock is not then listed on the Nasdaq National Market, the principal national securities exchange or national market system on which the
Common Stock is then traded or quoted. Holder shall be responsible for any brokerage or underwriting commissions and taxes of any kind (including, without limitation, transfer taxes) with respect to 
  

 8 

 any disposition, sale or transfer of Holder’s Registrable Shares and for any legal, accounting and other expenses
incurred by Holder in connection with any registration statement. 
  
 11. Representations and Warranties. The Company represents and warrants to Holder as follows: 
  
 (a) This Warrant has been duly authorized and executed by the Company and is a valid and binding obligation of the Company enforceable in accordance with
its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable remedies. 

 
 (b) The Shares have been duly authorized and reserved for issuance by the
Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable and free from preemptive rights. 
  
 (c) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with the terms hereof
will not be, inconsistent with the Company’s Articles of Incorporation or by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the Company, and do not and will not conflict with or
contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice to, the
registration or filing with or the taking of any action in respect of or by, any Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which filings
will be effected by the time required thereby. 
  
 (d) There are
no actions, suits, audits, investigations or proceedings pending or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, could have a
material adverse effect on the ability of the Company to perform its obligations under this Warrant. 
  
 12. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an instrument in
writing signed by the party against which enforcement of the same is sought. 
  
 13. Notices. Any notice, request, communication or other document required or permitted to be given or delivered to the holder hereof or the Company shall be delivered, or shall be sent by certified or
registered mail, postage prepaid, to each such holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of this Warrant. 
  
 14. Binding Effect on Successors. This Warrant shall be binding
upon any corporation succeeding the Company by merger, consolidation or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Shares issuable upon the exercise or conversion
of this Warrant shall survive the exercise, conversion and termination 
  

 9 

 of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and
assigns of the holder hereof. 
  
 15. Lost Warrants or Stock
Certificates. The Company covenants to the holder hereof that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock certificate and, in the case of any
such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the Company will make and deliver a new
Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 
  
 16. Descriptive Headings. The descriptive headings of the various Sections of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 
  
 17. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the
laws of the State of Georgia. 
  
 18. Survival of
Representations, Warranties and Agreements. All representations and warranties of the Company and the holder hereof contained herein shall survive the Date of Grant, the exercise or conversion of this Warrant (or any part hereof) or the
termination or expiration of rights hereunder. All agreements of the Company and the holder hereof contained herein shall survive indefinitely until, by their respective terms, they are no longer operative. 
  
 19. Remedies. In case any one or more of the covenants and
agreements contained in this Warrant shall have been breached, the holders hereof (in the case of a breach by the Company), or the Company (in the case of a breach by a holder), may proceed to protect and enforce their or its rights either by suit
in equity and/or by action at law, including, but not limited to, an action for damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 
  
 20. Severability. The invalidity or unenforceability of any
provision of this Warrant in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
  
 21. Entire Agreement; Modification. This Warrant constitutes
the entire agreement between the parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such
subject matter. 
  

 10 

 The Company has caused this Warrant to be duly executed and delivered as of the Date of Grant specified
above. 
  
  

	 PTEK HOLDINGS, INC.
  

		
	By:	 	 /s/ Jeffrey A. Allred 

	 	

	 	 	 Title:       President
 Address: 3399 Peachtree Rd. NE
               
 Atlanta, Georgia 30326

 EXHIBIT A 
  

NOTICE OF EXERCISE 
  
 To: Ptek Holdings, Inc. (the “Company”) 
  
 1. The undersigned hereby elects to purchase             shares of Common Stock of the Company
pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full. 
  
 2. Please issue a certificate or certificates representing              shares in the name of
the undersigned or in such other name or names as are specified below: 
  

 (Name) 
  
  

  
  
  

 (Address) 
  
 3. The undersigned represents that (i) it is an “accredited
investor” as defined in Rule 501 under Regulation D promulgated under the Securities Act of 1933, as amended, and (ii) the aforesaid shares are being acquired for the account of the undersigned for investment and not with a view to, or for
resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares, except as in compliance with applicable securities laws. 
  
  

	 	

 (Signature) 
  
  

	 	

 (Date) 

 EXHIBIT B 
  

ASSIGNMENT FORM 
  
 FOR VALUE RECEIVED, the undersigned registered owner of the attached Warrant hereby sells, assigns and transfers unto the Assignee named below all
of the rights of the undersigned under the attached Warrant with respect to the number of shares of Common Stock of PTEK Holdings, Inc. (the “Company”) covered thereby set forth below: 
  

	 Name of Assignee

	 	 Address/Facsimile Number

	 	 No. of Shares

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

  
 and does hereby irrevocable
constitute and appoint                              Attorney to make such transfer on the books of
PTEK Holdings, Inc., maintained for the purpose, with full power of substitution in the premises. 
  
 The undersigned also represents that, by assignment thereof, the Assignee acknowledges that the attached Warrant and the shares of stock to be issued upon
exercise thereof are being acquired for investment and that the Assignee will not offer, sell, or otherwise dispose of the attached Warrant or any shares of stock to be issued on exercise thereof, except under circumstances that will not result in a
violation of the Securities Act of 1933, as amended, or any state securities laws. Further, the Assignee has acknowledged that upon exercise of the attached Warrant, the Assignee shall, if requested by the Company, confirm in writing, in form
satisfactory to the Company, that the shares of stock so purchase are being acquired for investment and not with a view toward distribution or resale. 
  

	 Dated: _________________________________________
	 	Signature: _____________________________________
	 	 	 
	 Dated: _________________________________________
	 	Witness: ______________________________________

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