Document:

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                                                                    EXHIBIT 10.1

                              TERMINATION AGREEMENT

         This Termination Agreement (this "AGREEMENT"), dated to be effective as
of April 8, 2002 (the "EFFECTIVE DATE"), is made by and between Yahoo! Inc., a
Delaware corporation (together with its successors and assigns, "YAHOO!"), and
ZixIt Corporation, a Texas corporation (together with its successors and
assigns, "ZIXIT"). Yahoo! and ZixIt are collectively referred to herein as the
"PARTIES" and individually as a "PARTY."

                             PRELIMINARY STATEMENTS

         A. Yahoo! and ZixIt are parties to a Distribution Agreement, dated
August 17, 2000 (the "DISTRIBUTION AGREEMENT").

         B. Yahoo! and ZixIt are parties to a Corporate Yahoo! License and
Referral Agreement, effective as of July 31, 2001 (the "LICENSE AGREEMENT").

         C. Yahoo! and ZixIt mutually desire to terminate the Distribution
Agreement and License Agreement as of the Effective Date, subject to the terms
set forth in this Agreement.

       NOW, THEREFORE, Yahoo! and ZixIt hereby mutually agree as follows:

                                    AGREEMENT

1. TERMINATION OF AGREEMENTS. The Distribution Agreement and the License
Agreement are hereby terminated in their entirety as of the Effective Date, and
such agreements will cease to have any further force or effect as of such date;
provided, however, that ZixIt will continue to support the Secure Delivery
Service (as defined in the Distribution Agreement) on Yahoo Mail (as defined in
the Distribution Agreement) until * in order to allow Yahoo! to notify users of
the discontinuance of the service. The following Sections of the Distribution
Agreement will survive this termination: Sections 5.6, 5.7, 5.8, 6, 7, 9, 10,
and 12. The following Sections of the License Agreement will survive this
termination: Sections 2.1C, 2.1F, 2.2(E-F), 3.2, 3.3 and 4. Further, the parties
agree that all licenses from Yahoo to ZixIt under the License Agreement will
terminate as of the Effective Date.

2. SHARE ISSUANCE. On the Effective Date, ZixIt will issue and deliver to Yahoo!
a Convertible Promissory Note for the principal sum of $2,500,000 bearing *
interest, per annum (the "Note") in the form attached hereto as Annex A.

         2.1 Issuance and Delivery. Yahoo! and ZixIt will coordinate the
issuance of all shares of common stock of ZixIt, par value $.01 per share,
issuable under the Note (the "Registered Common Stock"), whether in certificate
or book-entry form. ZixIt represents and warrants to

----------

* Indicates confidential text omitted and filed separately with the Securities
and Exchange Commission.

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Yahoo! that the Registered Common Stock, when issued, will be duly authorized,
validly issued, fully paid and non-assessable and free and clear of any liens or
encumbrances. ZixIt also represents and warrants to Yahoo! that ZixIt is not
subject to any agreement restricting the issuance of the Registered Common
Stock. Further, when issued and delivered to Yahoo!, the Registered Common Stock
will not be subject to any restriction on resale, other than applicable
provisions of this Agreement and the United States federal securities laws.
Further, if reasonably requested by Yahoo! or its counsel, ZixIt shall provide
to Yahoo! an opinion of counsel customary in such private issuances of
securities opining as to the matters set forth in this Section 2.1 with respect
to the Registered Common Stock.

         2.2 Additional Representations of ZixIt.

         (a) Organization, Good Standing. ZixIt is a corporation duly organized,
validly existing and in good standing under the laws of the State of Texas.
ZixIt has all requisite corporate power and authority to own and operate its
properties and assets, to execute and deliver this Agreement, to carry out the
provisions of this Agreement, and to carry on its business as presently
conducted and as presently proposed to be conducted.

         (b) No Conflict. The execution, delivery and performance by and on
behalf of ZixIt of this Agreement will not (i) conflict with or result in a
breach or violation of any term or provision of, or constitute a default under,
any material contract, material agreement or other material instrument to which
ZixIt is a party or by which any of its properties, rights or assets are bound
or (ii) result in the creation or imposition of any encumbrance on any of the
properties or assets of ZixIt.

         (c) SEC Reports and Financial Statements. ZixIt has filed with the
Securities and Exchange Commission (the "SEC"), and Yahoo! has had access to
true and complete copies of, all forms, reports, schedules, statements and other
documents required to be filed by it and its Subsidiaries since January 1, 2000
under the Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT") and
the Securities Act of 1933, as amended (the "SECURITIES ACT") (as such documents
have been amended since the time of their filing, collectively, the "ZIXIT SEC
DOCUMENTS"). As of their respective dates, the ZixIt SEC Documents, including,
without limitation, any financial statements or schedules included therein (a)
did not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made,
not misleading and (b) complied in all material respects with the applicable
requirements of the Exchange Act or the Securities Act, as the case may be, and
the applicable rules and regulations of the SEC thereunder. As of each date of
issuance of the Registered Common Stock under the Note, and since the date of
the latest financial statements included in the ZixIt SEC Documents, there has
been no event or occurrence that has had a material adverse effect on the
business, operations, financial condition or prospects of ZixIt or its
subsidiaries.

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3. AGREEMENTS PERTAINING TO REGISTRATION OF THE REGISTERED COMMON STOCK.

         3.1 Yahoo! acknowledges that the Registered Common Stock and the Note
have not been registered under the Securities Act in reliance upon the exemption
provided by Section 4(2) of the Securities Act for transactions by an issuer not
involving a public offering.

         3.2 Yahoo! hereby represents and warrants that (a) the Note and the
shares of Registered Common Stock issuable thereunder (collectively, the
"Subject Securities") will be acquired for investment for its account, not as
nominee or agent, and not with a view to the resale or distribution of any part
thereof in a manner which would violate the registration provisions of the
Securities Act or any applicable state securities laws, (b) Yahoo! has had
access to ZixIt's filings filed with the SEC under the Exchange Act, and (c)
Yahoo! has had the opportunity to ask questions of ZixIt and its officers
related to ZixIt's SEC filings and ZixIt's business and operations. Yahoo!
acknowledges that the Subject Securities are "restricted securities" within the
meaning of Rule 144 under the Securities Act and that Yahoo! may not sell,
assign, pledge or otherwise transfer the Subject Securities unless they are
subsequently registered under the Securities Act or an exemption from such
registration is available. ZixIt reserves the right to impose stop transfer
restrictions with respect to the Subject Securities for purposes of ensuring
compliance with any such restrictions. Yahoo! acknowledges that the Subject
Securities may bear a restrictive legend reflecting any such Rule 144
restrictions.

         3.3 ZixIt will use all commercially reasonable efforts to register the
shares of common stock issuable under the Note for resale under the Securities
Act on a shelf registration statement on Form S-3 (or other appropriate form) as
promptly as practicable after the Effective Date, and in any event no later than
* following the Effective Date (the "REGISTRATION STATEMENT"). ZixIt may defer
the filing (but not the preparation) of a Registration Statement for a * (the
"BLACKOUT PERIOD") if at the time ZixIt or any of its subsidiaries is engaged in
confidential negotiations or other confidential business activities, disclosure
of which would be required in such Registration Statement (but would not be
required if such Registration Statement were not filed), and the Board of
Directors of ZixIt determines in good faith that such disclosure would be
materially detrimental to ZixIt and its shareholders or would have a material
adverse effect on any such confidential negotiations or other confidential
business activities. A deferral of the filing of a Registration Statement will
be lifted, and the Registration Statement will be filed within * of the
expiration of such Blackout Period or disclosure or termination of discussions,
if the negotiations or other activities are disclosed or terminated. In order to
defer the filing of a Registration Statement, ZixIt will promptly (but in any
event within five days), upon determining to seek such deferral, deliver to
Yahoo! a certificate signed by an executive officer of ZixIt setting forth a
statement of the reason for such deferral and an approximation of the
anticipated delay, provided that in no event shall such period exceed the
Blackout Period, which information Yahoo! will treat as confidential.

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         3.4 ZixIt will use all commercially reasonable efforts to cause the
Registration Statement to become effective as promptly after filing as is
practicable and in any case no later than * after the Effective Date, and will
use all commercially reasonable efforts to keep such Registration Statement
continuously effective at all times until * . ZixIt may include shares of other
shareholders having registration rights in the Registration Statement.

         3.5 ZixIt shall, as expeditiously as reasonably possible:

         (a) Prepare and file with the SEC such amendments and supplements to
the Registration Statement and the prospectus used in connection with the
Registration Statement as may be necessary to comply with the provisions of the
Securities Act with respect to the disposition of the Registered Common Stock.

         (b) ZixIt will provide copies of the applicable prospectus related to
the Registered Common Stock, and any supplement or amendment thereto (including
post-effective amendments) to Yahoo! or its representatives in reasonable
quantities as requested. In the event ZixIt becomes aware of a misstatement or
any deficiency in the Registration Statements or Prospectus with respect to the
Registered Common Stock, ZixIt shall notify Yahoo! immediately to discontinue
use of such Registration Statement or Prospectus, promptly (but in no event more
than three business days) amend such Registration Statement or Prospectus to
allow for resales thereunder in accordance with the terms hereof, and promptly
provide Yahoo! with copies of such amended or revised Registration Statement or
Prospectus.

         (c) Use all reasonable efforts to register and qualify the securities
covered by the Registration Statements under such other securities or blue sky
laws of such jurisdictions as shall be reasonably requested by Yahoo!, provided
that ZixIt shall not be required in connection therewith or as a condition
thereto to qualify to do business or to file a general consent to service of
process in any such states or jurisdictions.

         3.6 Without the prior written or verbal consent of ZixIt's chief
financial officer, the number of shares of Registered Common Stock that may be
sold in any given day may not exceed * of the Average Daily Trading Volume.
"AVERAGE DAILY TRADING VOLUME" means the average daily trading volume of ZixIt
Common Stock on the Nasdaq National Market (the "Nasdaq") for the immediately
preceding 90 days.

         3.7 Yahoo! will cooperate in all reasonable respects with ZixIt in the
preparation and filing of the Registration Statement and any amendments thereto.
Yahoo! has the right to review and approve all references to Yahoo! contained in
the Registration Statement or any document to be filed in connection with the
Registration Statement. ZixIt will pay all costs and expenses in connection with
preparing and filing the Registration Statement and any amendments and
supplements thereto, except that Yahoo! will pay all applicable stock transfer
taxes relating to any Registered Common Stock transferred, subject to the terms
hereof, and all fees and expenses of counsel to Yahoo!, if any, and all broker
fees and commissions incurred by Yahoo! in connection with the sale of any
Registered Common Stock.

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         3.8 ZixIt will use commercially reasonable efforts to list the
Registered Common Stock on Nasdaq at or prior to the issuance thereof.

         3.9 (a) To the extent permitted by law, ZixIt will indemnify and hold
harmless Yahoo!, officers, directors, employees, agents and legal counsel of
Yahoo! against any losses, claims, damages, or liabilities (joint or several) to
which they may become subject under the Securities Act, the Exchange Act or
other federal or state law or any third party claim, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon any of the following statements, omissions or violations
(collectively a "VIOLATION") by ZixIt: (i) any untrue statement or alleged
untrue statement of a material fact contained in a Registration Statement,
including any preliminary prospectus or final prospectus contained therein or
any amendments or supplements thereto, (ii) the omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to
make the statements therein not misleading, or (iii) any violation or alleged
violation by ZixIt of the Securities Act, the Exchange Act, any state securities
law or any rule or regulation promulgated under the Securities Act, the Exchange
Act or any state securities law in connection with the resale of the Registered
Common Stock covered by a Registration Statement; and ZixIt will reimburse
Yahoo! and the other indemnified parties for any legal or other expenses
reasonably incurred and as incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however,
that the indemnity agreement contained in this Section 3.9(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of ZixIt, which consent shall
not be unreasonably withheld, nor shall ZixIt be liable in any such case for any
such loss, claim, damage, liability or action to the extent that it arises out
of any untrue statement or omission or alleged untrue statement or omission made
in reliance upon and in conformity with written information furnished expressly
by Yahoo! for use in the registration statement with respect to the Registered
Common Stock.

         (b) To the extent permitted by law, Yahoo! will indemnify and hold
harmless ZixIt, each of its directors, its officers, and legal counsel and each
person, if any, who controls ZixIt within the meaning of the Securities Act,
against any losses, claims, damages or liabilities (joint or several) to which
ZixIt or any such director, officer, legal counsel, or controlling person, may
become subject under the Securities Act, the Exchange Act or other federal or
state law or third party claim, insofar as such losses, claims, damages or
liabilities (or actions in respect thereto) arise out of any untrue statement or
omission or alleged untrue statement or omission made in reliance upon and in
conformity with written information furnished expressly by Yahoo! for use in the
registration statement with respect to the Registered Common Stock; and Yahoo!
will reimburse any legal or other expenses reasonably incurred and as incurred
by ZixIt or any such director, officer, legal counsel, or controlling person, in
connection with investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the indemnity agreement contained
in this Section 3.9(b) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without
the consent of Yahoo!, which consent shall not be unreasonably withheld;
provided further, that in no event shall any obligation under this Section
3.9(b) exceed the net proceeds (after deducting broker's fees and commissions
incurred by Yahoo!) from the resale of the Registered Common Stock received by
Yahoo! hereunder.

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         (c) Promptly after receipt by an indemnified party under this Section
3.9 of notice of a claim or the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this Section 3.9, deliver to
the indemnifying party a written notice of the claim or the commencement of any
action and the indemnifying party shall have the right to participate in, and,
to the extent the indemnifying party so desires, jointly with any other
indemnifying party similarly noticed, to assume the defense thereof with counsel
mutually satisfactory to the parties; provided, however, that an indemnified
party shall have the right to retain its own counsel, with the fees and expenses
to be paid by the indemnifying party, if in good faith and upon the advice of
counsel the indemnified party reasonably concludes that representation of such
indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential differing interests between such
indemnified party and any other party represented by such counsel in such
proceeding. The failure to deliver written notice to the indemnifying party
within a reasonable time of the commencement of any such action, if materially
prejudicial to its ability to defend such action, shall relieve such
indemnifying party of any liability to the indemnified party under this Section
3.9, but the omission so to deliver written notice to the indemnifying party
will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 3.9.

         (d) If the indemnification provided for in this Section 3.9 is held by
a court of competent jurisdiction to be unavailable to an indemnified party with
respect to any losses, claims, damages or liabilities referred to herein, the
indemnifying party, in lieu of indemnifying such indemnified party hereunder,
shall to the extent permitted by applicable law contribute to the amount paid or
payable by such indemnified party as a result of such loss, claim, damage or
liability in such proportion as is appropriate to reflect the relative fault of
the indemnifying party on the one hand and of the indemnified party on the other
in connection with the statement, omission or violation that resulted in such
loss, claim, damage or liability, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the
indemnified party shall be determined by a court of law by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission to state a material fact relates to information supplied by the
indemnifying party or by the indemnified party and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission; provided that in no event shall any contribution by
Yahoo! hereunder exceed the net proceeds (after deducting broker's fees and
commissions incurred by Yahoo!) from the resale of the Registered Common Stock
received by Yahoo!.

         (e) The obligations of ZixIt and Yahoo! under this Section 3.9 shall
survive completion of any offering of the Registered Common Stock in a
registration statement and the termination of this Agreement. No indemnifying
party, in the defense of any such claim or litigation, shall, except with the
consent of each indemnified party, consent to entry of any judgment or enter
into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such indemnified party of a release from
all liability with respect to such claim or litigation.

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4. ADVERTISING. Yahoo! will provide to ZixIt advertising on Yahoo! Mail with a
value of * pursuant to the standard terms and conditions (the "Standard Terms")
set forth in Exhibit A at rates of (a) * per CPM for * , (b) * per CPM for * ,
and (c) * per CPM for * . Such advertising will be available to ZixIt from the
Effective Date through * and may be used in whole or in part from time to time
during such period as ZixIt may request in its sole and absolute discretion,
subject to the Standard Terms.

5. RELEASE. (a) GENERAL. Each of the Parties hereby agrees to and does settle,
release, waive and discharge the other Party and its predecessors, successors,
partners, parent companies, affiliates, subsidiaries, assigns, officers,
administrators, employees, former employees, directors, trustees, shareholders,
representatives, attorneys, and agents from any and all liabilities,
obligations, amounts due or owing, claims, causes of action, and declaratory and
injunctive relief, whether legal, equitable or administrative, whether presently
known or not known, which the releasing Party may have against the other Party
arising from or relating to the Distribution Agreement or the License Agreement.

         (b) WAIVER OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE. The Parties
expressly waive any rights or benefits available to them under the provisions of
Section 1542 of the California Civil Code, or of the provisions of any similar
statute of any other jurisdiction. Civil Code Section 1542 provides as follows:

                  "A general release does not extend to claims which the
                  creditor does not know or suspect to exist in his favor at the
                  time of executing the release, which if known by him must have
                  materially affected his settlement with the debtor."

         Each of the Parties understand the statutory language of Section 1542
of the California Civil Code but nevertheless elects to and releases the other
party from all known and unknown claims each may have against the other, as
provided in this Agreement. The Parties further specifically waive any rights
that either of them may have under Section 1542 of the California Civil Code.
Each of the Parties fully understands that if the facts with respect to this
Agreement, including without limitation the facts related to the claims released
herein, are later found to be other than or different from the facts now
believed by each of them to be true, each expressly accepts and assumes the risk
of such possible difference in facts and agrees that this Agreement shall be and
remain effective, notwithstanding any such difference.

6. MISCELLANEOUS PROVISIONS.

         6.1 NOTICES. Any notice, request, instruction or other communication or
document that a Party desires to serve upon the other will be sent in writing
and will be deemed received on the day sent if transmitted via electronic mail,
telegram, or confirmed facsimile (confirmed by concurrent written notice sent
via personal delivery or first class U.S. mail, postage prepaid to the other
Party at their principal places of business with a copy to their respective
general counsels); or if sent by U.S. mail with return receipt requested, upon
execution of the receipt; or if sent by

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personal delivery, when received. Notices sent to either Party will be directed
to them at the address provided below. Either Party may change its contact
person for purposes of notice by sending the other Party the name of its new
designate in writing.

         If to Yahoo!:

                  Yahoo! Inc.
                  701 First Avenue
                  Sunnyvale, California 94089
                  Phone: *
                  Fax: *
                  Attn: Susan Decker, EVP and Chief Financial Officer
                  Copy: General Counsel  *

         If to ZixIt:

                  ZixIt Corporation.
                  2711 North Haskell Avenue, Suite 2850, LB 36
                  Dallas, Texas 75204-2911
                  Phone: *
                  Fax: *
                  Attn: General Counsel *

         6.2 COMPLETE AGREEMENT. This Agreement (together with any Exhibits)
contains the entire agreement between the Parties and constitutes the complete,
final and exclusive embodiment of the Parties' agreement with respect to the
subject matter hereof. This Agreement is executed without reliance upon any
promise, warranty or representation by any Party or any representative of any
Party other than those expressly contained herein.

         6.3 GOVERNING LAW. This Agreement will be interpreted by, governed by,
and enforced under the laws of the State of California, without regard to the
conflict of laws principles thereof.

         6.4 SEVERABILITY. In the event any portion of this Agreement is deemed
illegal, invalid or unenforceable by a court or other decision-making authority
of competent jurisdiction, then the remainder of the provision will be enforced
so as to effect the intention of the Parties, and the validity and
enforceability of all other provisions in the Agreement will not be affected or
impaired.

         6.5 AMENDMENTS. No other promises or agreements regarding the
Distribution Agreement, the License Agreement or this Agreement will be binding
unless they are in writing and signed by all of the Parties.

         6.6 EXPENSES. The drafting and negotiation of this Agreement have been
participated in by each of the Parties and for all purposes, this Agreement will
be deemed to have been drafted jointly by each of the Parties. Each Party to
this Agreement will bear its own costs, expenses and

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attorney's fees incurred in or arising out of or in any way related to the
matters set forth in this Agreement, other than as provided in Section 3 above.

         6.7 COUNTERPARTS. This Agreement may be executed in multiple
counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same agreement. Signatures presented by
facsimile transmission will be deemed effective at the time of transmission and
will be replaced by original signatures as soon thereafter as practicable.

         6.8 AUTHORITY; BINDING AGREEMENT. Each Party hereto warrants and
represents that there are no liens, or claims of such, or assignments in law or
equity or otherwise of or against any of the claims or causes of action released
herein. Each Party also warrants and represents that (a) it is duly authorized
to execute, deliver and perform this Agreement, (b) it has duly executed this
Agreement and (c) this Agreement is enforceable against it according to the
terms hereof, except (i) as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other laws of general application affecting
enforcement of creditors' rights generally; and (ii) as may be limited by
general principles of equity that restrict the availability of equitable
remedies.

         IN WITNESS WHEREOF, the Parties have caused this Agreement to be signed
by their respective officers thereunto duly authorized, all effective as of the
Effective Date.

                                       YAHOO! INC.

                                       By: /s/ Sue Decker
                                          --------------------------------------
                                       Its: EVP & CFO
                                           -------------------------------------

                                       ZIXIT CORPORATION

                                       By: /s/ Ronald A. Woessner
                                          --------------------------------------
                                       Its: SVP
                                           -------------------------------------

                                       9<PAGE>

                                                                    EXHIBIT 10.2

THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR APPLICABLE STATE
SECURITIES LAWS. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE
OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED UNLESS (1) THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES OR (2) THE SALE
IS MADE IN ACCORDANCE WITH RULE 144 OR ANOTHER APPLICABLE EXEMPTION UNDER THE
SECURITIES ACT.

                                ZIXIT CORPORATION

                          * CONVERTIBLE PROMISSORY NOTE
US$2,500,000

         THIS CONVERTIBLE PROMISSORY NOTE (this "Note") is made and entered into
as of April 8, 2002 ("Execution Date"), by and between ZixIt Corporation, a
Texas corporation ("Maker"), with its principal executive offices in Dallas,
Texas, and Yahoo! Inc., a Delaware corporation ("Holder"), with its principal
executive offices in Sunnyvale, California.

        This Note is the Convertible Promissory Note contemplated by Section 2
of that certain Termination Agreement (herein so called), dated of even date
herewith, between Maker and Holder. Terms used herein with their initial letter
capitalized, but not defined herein, shall have the meaning given such term in
the Termination Agreement, unless the context requires otherwise.

         1. Promise to Pay. Maker promises to pay to the order of Holder the
principal sum of $2,500,000 dollars. Interest shall accrue daily from the date
hereof (based on a year of 365 days) on the unpaid principal amount at the lower
of a rate of * (the "Interest Rate") or the maximum allowable rate under
applicable law, per annum, and shall be compounded quarterly on March 31, June
30, September 30 and December 31 of each year, and shall be payable upon payment
of the principal amount.

         2. Due Date. This note is due and payable in full on * (in either case,
the "Due Date").

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* Indicates confidential text omitted and filed separately with the Securities
and Exchange Commission.

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         3. Method of Payment.

         (a) Within * days following the Due Date, Maker will deliver to Holder
a combination of cash and Common Stock (such combination of cash and stock to be
determined by Maker in its sole discretion), covered by an effective
registration statement filed with the Securities and Exchange Commission
("Registered Common Stock"), that, in the aggregate equals the amount of unpaid
principal plus accrued interest then owed under this Note (the "Amount Owing").
The number of shares of Registered Common Stock to be delivered will be
determined by dividing the Amount Owing (after giving effect to any cash
payments simultaneously being made by Maker) by the "Per Share Stock Price." The
"Per Share Stock Price" means the average of the closing sale prices of the
Common Stock for the * days preceding the Due Date (the "Measurement Period").
The number of shares of Registered Common Stock to be delivered to the Holder
shall be rounded up to the nearest whole share.

         (b) The shares of Registered Common Stock (or electronic equivalent)
and/or cash will be delivered to Holder (or its designee) on the date specified
herein.

         (c) All cash payments, by the Maker, of principal, interest, fees and
other obligations hereunder shall be made in same day funds and without defense,
setoff or counterclaim, free of any restriction or condition, and delivered to
the Holder not later than 10:00 a.m. (San Francisco time) on the Due Date at the
account of the Holder; funds received by Holder after that time on such Due Date
shall be deemed to have been paid by the Maker on the next succeeding Business
Day.

         (d) All payments in respect of the principal amount of this Note shall
include payment of accrued and unpaid interest on the principal amount being
repaid, and all such payments shall be applied to the payment of interest before
application to principal.

         (e) Except if expressly provided otherwise, whenever any payment to be
made hereunder shall be stated to be due on a day that is not a Business Day,
such payment shall be made on the next succeeding Business Day and such
extension of time shall be included in the computation of the payment of
interest hereunder.

         (f) All Registered Common Stock delivered to the Holder pursuant to the
Termination Agreement and this Note shall have attached thereto, all
registration rights, rights under any shareholder rights or "poison pill" plan
and other rights , in each case, to the extent such rights are generally
attendant to other Common Stock of the Maker.

         4. Acceleration Events. The unpaid principal and accrued interest shall
become immediately due and payable, at Yahoo!'s sole discretion, if (a) the
Registration Statement has not been declared effective by the Securities and
Exchange Commission on

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or before the date * following the date of the Termination Agreement or (b)
Maker (1) becomes insolvent; (2) fails to pay its debts generally as they become
due; (3) voluntarily seeks, consents to, or acquiesces in the benefit or
benefits of the Bankruptcy Code of the United States of America or any other
applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement,
receivership, insolvency, reorganization, suspension of payments, or similar
debtor relief law from time-to-time in effect affecting the rights of creditors
generally ("Debtor Relief Law"); (4) becomes a party to (or is made the subject
of) any proceeding provided for by any Debtor Relief Law, other than as a
creditor or claimant (unless, in the event such proceeding is involuntary, the
petition instituting same is dismissed within 60 days of the filing of same);
(5) is party to any acquisition of Maker by means of merger or other form of
corporate reorganization in which outstanding shares of Maker are exchanged for
securities or other consideration issued, or caused to be issued, by the
acquiring person or its parent, subsidiary or affiliate; (6) is party to any
sale of all or substantially all of the assets of Maker (on a consolidated
basis) in a single transaction or series of related transactions; (7) there is
any other transaction or series of related transactions by Maker relating to the
Common Stock (including without limitation, any stock purchase or tender or
exchange offer) in which the power to cast the majority of the eligible votes at
a meeting of Maker's stockholders at which directors are elected is transferred
to a single entity or group acting in concert; (8) is party to a capital
reorganization or reclassification of the Common Stock or other securities
(other than a reorganization or reclassification in which the Common Stock is
not converted into or exchanged for cash or other property, and, immediately
after consummation of such transaction, the stockholders of Maker immediately
prior to such transaction own Common Stock, other securities or other voting
stock of Maker in substantially the same proportions relative to each other as
such stockholders owned immediately prior to such transaction); or (9) agrees to
do any of the foregoing. The Due Date shall be the date of any such event, if
earlier than the Due Date otherwise then in effect.

         5. Default.

         (a) Failure to satisfy the obligations of this Note by the time
required herein ("Default") shall cause the Interest Rate to change to the lower
of (i) * per annum (based on a year of 365 days) or (ii) the highest lawful rate
permitted to be charged on debts of such nature ("Default Interest Rate") and
the Holder may declare the entire principal and unpaid accrued interest hereon
immediately due and payable, by notice in writing to the Maker.

         (b) If this Note shall be in default and placed for collection, Maker
shall pay all reasonable attorneys fees and costs of collection.

         6. Security. This Note is unsecured.

                                       3
<PAGE>

         7. Dividends and Distributions. In case the Maker at any time or from
time to time after the trading day immediately before the Measurement Period
shall declare, order, pay or make a dividend or other distribution (including,
without limitation, any distribution of other or additional stock or other
securities or property or by way of dividend or spin-off, reclassification,
recapitalization or similar corporate rearrangement) with respect to its Common
Stock, then Holder shall receive upon any payment of Registered Common Stock
hereunder, in addition to the number of the shares of Registered Common Stock
being delivered hereunder, the kind and amount of Common Stock, other
securities, cash or other property that Holder would have been entitled to
receive had Holder been the owner of record of such shares of Registered Common
Stock on the date of such dividend record date.

         8. Notices of Corporate Action. In the event of any action or event
described in Section 4(b), items (5)-(8), Maker will mail to Holder a notice
specifying (i) the date or expected date on which any such record is to be taken
for the purpose of such dividend, distribution or right, and the amount and
character of such dividend, distribution or right, and (ii) the date or expected
date on which any such action or event is expected to occur. Such notice shall
be mailed to Holder at least 21 days prior to the date therein specified.

         9. Listing; Taxes. Maker will procure, at its sole expense, the listing
of the Registered Common Stock issuable under this Note and shares issuable as
interest hereunder, subject to issuance or notice of issuance, on the Nasdaq
National Market System and on all other quotation systems and stock exchanges on
which the Common Stock is then listed or quoted, no later than the date on which
this Note is issued to the Holder and thereafter shall use its best efforts to
prevent delisting or removal from quotation of such shares. Maker will pay any
and all documentary stamp or similar issue or transfer taxes that may be payable
in respect of the issuance or delivery of shares of Common Stock upon delivery
and acceptance of shares under this Note and shares issuable as interest
hereunder.

         10. Exchange. This Note is exchangeable for an equal aggregate
principal amount of Notes of different denominations, as requested by the Holder
surrendering the same. No service charge will be charged to the Holder for such
transfer or exchange.

         11. Lost or Stolen Note. In case this Note shall be mutilated, lost,
stolen or destroyed, Maker shall issue in exchange and substitution for and upon
cancellation of the mutilated Note, or in lieu of and substitution for the Note
lost, stolen or destroyed, a new Note of like tenor upon execution of an
indemnity agreement relating to the Note in the form and substance reasonably
satisfactory to Maker.

         12. Payment of Expenses. Maker agrees to pay all reasonable expenses,
including reasonable attorneys' fees, which may be incurred by the Holder in
successfully enforcing the provisions of this Note and/or collecting any amount
due under this Note or the Agreement.

                                       4
<PAGE>

         13. Waivers of Demand, etc. Maker hereby expressly waives (to the
extent permitted by applicable law) demand and presentment for payments, notice
of nonpayment, protest, notice of protest, notice of dishonor, notice of
acceleration or intent to accelerate, bringing of suit and diligence in taking
any action to collect amounts called for hereunder and will be directly and
primarily liable for the payment of all sums owing and to be owing hereon,
regardless of and without any notice, diligence act or omission as or with
respect to the collection of any amount called for hereunder.

         14. No Impairment. Maker will not, by amendment of its Articles of
Organization or Bylaws, or through reorganization, consolidation, merger,
dissolution, issue or sale of securities, sale of assets or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms
of this Note. Without limiting the generality of the foregoing, Maker (a) will
not increase the par value of any shares of Common Stock above the amount of the
Note exchangeable therefor, and (b) will take all such action as may be
necessary or appropriate in order that the Maker may validly and legally issue
fully paid and non-assessable shares of Common Stock pursuant to this Note.

         15. No Inconsistent Agreements. Maker will not on or after the date of
this Note enter into any agreement with respect to its securities which is
inconsistent with the rights granted to the Holder of this Note or otherwise
conflicts with the provisions hereof. The rights granted to the Holder hereunder
do not in any way conflict with and are not inconsistent with the rights granted
to holders of Maker's securities under any other agreements, except rights that
have been waived.

         16. Amendments. THIS NOTE IS SUBJECT TO THE TERMS AND PROVISIONS OF THE
TERMINATION AGREEMENT (AS DEFINED ABOVE) AND ANY TERM THEREOF MAY BE AMENDED,
MODIFIED, SUPPLEMENTED, WAIVED, DISCHARGED OR TERMINATED IN ACCORDANCE WITH THE
AMENDMENT PROVISIONS THEREOF. This Note may be amended with the written consent
of the Maker and the Holder. Any amendment effected in accordance with this
Section 16 shall be binding upon Holder and Maker.

         17. Severability. If any paragraph, provision or clause of this Note
shall be found or be held to be illegal, invalid or unenforceable, the remainder
of this Note shall be valid and enforceable and the parties shall use good faith
efforts to negotiate a substitute, valid and enforceable provision that most
nearly effects the parties' intent in entering into this Note.

         18. Notice. All communications hereunder shall be in writing and
delivered as set forth in the Termination Agreement.

         19. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, AND EACH OF
THE PARTIES HERETO HEREBY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY STATE
OR FEDERAL COURT IN THE NORTHERN DISTRICT OF CALIFORNIA AND ANY

                                       5
<PAGE>

COURT HEARING ANY APPEAL THEREFROM, OVER ANY SUIT, ACTION OR PROCEEDING AGAINST
IT ARISING OUT OF OR BASED UPON THIS AGREEMENT (A "RELATED PROCEEDING"). THE
MAKER HEREBY IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURT LACKS JURISDICTION
OVER THE COMPANY AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR
PROCEEDING BROUGHT WITH RESPECT TO THIS NOTE BROUGHT IN ANY OF THE AFORESAID
COURTS, THAT ANY SUCH COURT LACKS JURISDICTION OVER MAKER. MAKER FURTHER
IRREVOCABLY WAIVES ANY OBJECTION TO ANY RELATED PROCEEDING IN SUCH COURTS
WHETHER ON THE GROUNDS OF VENUE, RESIDENCE OR DOMICILE OR ON THE GROUND THAT THE
RELATED PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

         20. Miscellaneous.

         (a) When the Amount Owing is paid in full, the Holder shall surrender
this Note to the Maker at the address set forth for notices to the Holder in the
Termination Agreement.

         (b) This Note and the related Termination Agreement constitute the full
and entire understanding and agreement between the parties with regard to the
subject matter herein and supersede all prior agreements and understandings,
whether written or oral, that may exist between the parties relating to the
subject matter hereof. No delay by any party in the exercise of any of its
rights or remedies shall operate as a waiver thereof, and no single or partial
exercise by any party of any such right or remedy shall preclude the other or
further exercise thereof. No waiver of any provision of this Note or of any
right or remedy shall be deemed, or shall constitute, a waiver of any other
provision, whether or not similar, nor shall any waiver constitute a waiver of
any continuing or succeeding breach of such provision, a waiver of the provision
itself, or a waiver of any right or remedy hereunder.

         (c) The parties waive the application of any law, regulation, holding
or rule of construction providing that ambiguities in an agreement or other
document will be construed against the party drafting such agreement or
document.

         (d) Paragraph titles are inserted for convenience of reference only and
are not intended to be a part of or to affect the meaning of this Note.

         (e) This Note may be not be assigned by Holder, except that it my be
assigned by operation of law in connection with a merger, business combination
or similar transaction and except that it may be assigned by Yahoo! to one of
its subsidiaries or affiliates both as defined in Rule 12b-2 of the Securities
Exchange Act of 1934, as amended.

                                       6
<PAGE>

                  IN WITNESS WHEREOF, the Maker has executed this * Promissory
Note as of the date first written above.

ZIXIT CORPORATION

By: /s/ Ronald A. Woessner
   -------------------------------

Printed Name: Ronald A. Woessner
             ---------------------

Title: SVP
      ----------------------------

                                       7

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