Document:

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                                                                   Exhibit 10.01

                                    EXHIBIT F
                                    ---------

                      FORM OF COMMON STOCK PURCHASE WARRANT

<PAGE>

THIS COMMON STOCK PURCHASE WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING
THIS COMMON STOCK PURCHASE WARRANT, AGREES FOR THE BENEFIT OF THE COMPANY THAT
SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE
COMPANY, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT, OR (C) IF REGISTERED UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS. IN ADDITION, A SECURITIES PURCHASE AGREEMENT ("PURCHASE
AGREEMENT"), DATED THE DATE HEREOF, A COPY OF WHICH MAY BE OBTAINED FROM THE
COMPANY AT ITS PRINCIPAL EXECUTIVE OFFICE, CONTAINS CERTAIN ADDITIONAL
AGREEMENTS AMONG THE PARTIES, INCLUDING, WITHOUT LIMITATION, PROVISIONS WHICH
LIMIT THE EXERCISE RIGHTS OF THE HOLDER AND SPECIFY MANDATORY REDEMPTION
OBLIGATIONS OF THE COMPANY.

                     _______________________________________

                               ERF WIRELESS, INC.

                          COMMON STOCK PURCHASE WARRANT

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                                            No. 1
Number of shares: 300,000                   Holder:  Global Capital Funding
                                                     Group, L.P.
Expiration Date:  September ___, 2010                106 Colony Park Drive
                                                     Suite 900
Purchase Price Per Share:  $_____                    Cumming, GA  30040

For identification only. The governing terms of this Warrant are set forth
                                     below.
--------------------------------------------------------------------------------

ERF Wireless, Inc., a Nevada corporation (the "COMPANY"), hereby certifies that,
for value received, Global Capital Funding Group, L.P. or its assigns (the
"HOLDER"), is entitled, subject to the terms set forth below, to purchase from
the Company at any time or from time to time after the date hereof and prior to
the fifth anniversary hereof (the "EXERCISE PERIOD"), at the Purchase Price
hereinafter set forth, Three Hundred Thousand (300,000) shares of the fully paid
and nonassessable shares of common stock of the Company, $0.001 par value per
share (the "Common Stock"). The number and character of such shares of Common
Stock and the Purchase Price are subject to adjustment as provided herein.

         The purchase price per share of Common Stock issuable upon exercise of
this Warrant (the "PURCHASE Price") shall initially be equal to 102% of the
Closing Bid Price as published by Bloomberg, L.P. of the Common Stock on the day
immediately preceding the date hereof; PROVIDED, HOWEVER, that the Purchase
Price shall be adjusted from time to time as provided herein.

                                       1
<PAGE>

         Capitalized terms used herein not otherwise defined shall have the
meanings ascribed thereto in the Purchase Agreement. As used herein the
following terms, unless the context otherwise requires, have the following
respective meanings:

                  (a) The term "COMPANY" shall include ERF Wireless, Inc. and
         any corporation that shall succeed or assume the obligations of such
         corporation hereunder.

                  (b) The term "COMMON STOCK" includes (a) the Company's common
         stock, par value $0.01 per share, (b) any other capital stock of any
         class or classes (however designated) of the Company, authorized on or
         after the date hereof, the Holders of which shall have the right,
         without limitation as to amount, either to all or to a share of the
         balance of current dividends and liquidating dividends after the
         payment of dividends and distributions on any shares entitled to
         preference, and the Holders of which shall ordinarily, in the absence
         of contingencies, be entitled to vote for the election of a majority of
         directors of the Company (even though the right so to vote has been
         suspended by the happening of such a contingency) and (c) any other
         securities into which or for which any of the securities described in
         (a) or (b) may be converted or exchanged pursuant to a plan of
         recapitalization, reorganization, merger, sale of assets or otherwise.

                  (c) The term "OTHER SECURITIES" refers to any stock (other
         than Common Stock) and other securities of the Company or any other
         person (corporate or otherwise) that the Holder of this Warrant at any
         time shall be entitled to receive, or shall have received, on the
         exercise of this Warrant, in lieu of or in addition to Common Stock, or
         that at any time shall be issuable or shall have been issued in
         exchange for or in replacement of Common Stock or Other Securities
         pursuant to Section 4 or otherwise.

         1. EXERCISE OF WARRANT.

                  1.1 METHOD OF EXERCISE.

                  (a) This Warrant may be exercised in whole or in part (but not
         as to a fractional share of Common Stock), at any time and from time to
         time during the Exercise Period by the Holder hereof by delivery of a
         notice of exercise (a "NOTICE OF EXERCISE") substantially in the form
         attached hereto as EXHIBIT A via facsimile to the Company. Promptly
         thereafter the Holder shall surrender this Warrant (if the entire
         amount of the Warrant is subject to the Notice of Exercise) to the
         Company at its principal office via overnight delivery service,
         accompanied by payment of the Purchase Price multiplied by the number
         of shares of Common Stock for which this Warrant is being exercised
         (the "EXERCISE PRICE"). Payment of the Exercise Price shall be made, at
         the option of the Holder, (i) by check or bank draft payable to the
         order of the Company, or (ii) by wire transfer to the account of the
         Company. Upon exercise, the Holder shall be entitled to receive within
         three Trading Days of the Exercise Date (as defined herein), one or
         more certificates, issued in the Holder's name or in such name or names
         as the Holder may direct, subject to the limitations on transfer
         contained herein, for the number of shares of Common Stock so
         purchased. The shares of Common Stock so purchased shall be deemed to
         be issued as of the close of business on the date on which the Company
         shall have received from the Holder payment in full of the Exercise
         Price (the "EXERCISE DATE").

                                       2
<PAGE>

                  (b) Upon exercise of a portion of this Warrant in accordance
         with the terms hereof, records showing the amount so exercised and the
         date of exercise shall be maintained on a ledger substantially in the
         form of ANNEX B attached hereto (an originally signed and executed copy
         of which shall be delivered to the Company with each Notice of
         Exercise). The Company shall maintain the originally signed and
         executed ledger and the Holder shall maintain a copy thereof. Upon
         execution of the exercise of the Warrants contemplated by the Notice of
         Exercise, the Company shall deliver to the Holder a copy of ANNEX B
         signed and executed by the Company, and the Holder shall deliver to the
         Company a copy of Annex B signed by the Holder. It is specifically
         contemplated that the Company shall act as the calculation agent for
         all exercises of this Warrant. The Holder and any assignee, by
         acceptance of this Warrant, acknowledges and agrees that, by reason of
         the provisions of this paragraph, following an exercise of a portion of
         this Warrant, the number of shares of Common Stock represented by this
         Warrant will be the amount indicated on ANNEX B attached hereto (which
         may be less than the amount stated on the face hereof).

                  (c) In the event there is a dispute as to the number of shares
         of Common Stock the Holder is entitled to receive upon exercise of this
         Warrant, the Company shall issue to the Holder the number of shares not
         in dispute and the Company and the Holder will use their best efforts
         to resolve such dispute within one Business Day following the receipt
         of a Notice of Exercise. If such dispute cannot be resolved within such
         one-day period, the Company and the Holder shall submit the dispute to
         an independent accountant mutually agreed upon by the Company and the
         Holder to make a final and binding determination of the number of
         shares owed to the Holder. The Company shall issue shares of Common
         Stock owed to Holder as a result of the resolution of the dispute
         within two Business Days following the receipt of the accountant's
         independent determination.

                  1.2 REGULATION D RESTRICTIONS. The Holder hereof represents
and warrants to the Company that it has acquired this Warrant and anticipates
acquiring the shares of Common Stock issuable upon exercise of the Warrant
solely for its own account for investment purposes and not with a view to or for
resale of such securities unless such resale has been registered with the
Commission or an applicable exemption is available therefor and provided that
the Holder shall have furnished to the Company an opinion of counsel in form and
substance reasonably satisfactory to the Company, to the effect that such
transfer is exempt from the registration requirements of the Securities Act and
any applicable state securities laws.

                  1.3 COMPANY ACKNOWLEDGMENT. The Company will, at the time of
the exercise of this Warrant, upon request of the Holder hereof, acknowledge in
writing its continuing obligation to afford to such Holder the registration
rights to which such Holder shall continue to be entitled after such exercise in
accordance with the provisions of a Registration Rights Agreement dated the date
hereof (the "Registration Rights Agreement").

                                       3
<PAGE>

                  1.4 LIMITATION ON EXERCISE. Notwithstanding the rights of the
Holder to exercise all or a portion of this Warrant as described herein, such
exercise rights shall be limited, solely to the extent set forth in the Purchase
Agreement as if such provisions were specifically set forth herein. In addition,
the number of shares of Common Stock issuable upon exercise of this Warrant is
subject to reduction as specified in Section 10.3 of the Purchase Agreement.

         2. DELIVERY OF STOCK CERTIFICATES, ETC., ON EXERCISE. As soon as
practicable after the exercise of this Warrant, and in any event within three
(3) Business Days thereafter, the Company at its expense (including the payment
by it of any applicable issue, stamp or transfer taxes) will cause to be issued
in the name of and delivered to the Holder thereof, or, to the extent
permissible hereunder, to such other person as such Holder may direct, a
certificate or certificates for the number of fully paid and nonassessable
shares of Common Stock (or Other Securities) to which such Holder shall be
entitled on such exercise, plus, in lieu of any fractional share to which such
Holder would otherwise be entitled, cash equal to such fraction multiplied by
the then applicable Purchase Price, together with any other stock or other
securities and property (including cash, where applicable) to which such Holder
is entitled upon such exercise pursuant to Section 1 or otherwise.

         3. ADJUSTMENT FOR EXTRAORDINARY EVENTS. The Purchase Price to be paid
by the Holder upon exercise of this Warrant, and the consideration to be
received upon exercise of this Warrant, shall be adjusted in case at any time or
from time to time pursuant to Article 11 of the Purchase Agreement as if such
provisions were specifically set forth herein.

         4. NO IMPAIRMENT. The Company will not, by amendment of its Certificate
of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms of this Warrant, but will at all times 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 of this
Warrant against impairment. Without limiting the generality of the foregoing,
the Company (a) will not increase the par value of any shares of stock
receivable on the exercise of this Warrant above the amount payable therefor on
such exercise, (b) will take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and
unassessable shares of stock on the exercise of this Warrant, and (c) will not
transfer all or substantially all of its properties and assets to any other
person (corporate or otherwise), or consolidate with or merge into any other
person or permit any such person to consolidate with or merge into the Company
(if the Company is not the surviving person), unless such other person shall
expressly assume in writing and will be bound by all the terms of this Warrant.

         5. CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment or
readjustment in the shares of Common Stock (or Other Securities) issuable on the
exercise of this Warrant, the Company will promptly cause its principal
financial officer to compute such adjustment or readjustment in accordance with
the terms of this Warrant and prepare a certificate setting forth such
adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based, including a statement of (a) the
consideration received or receivable by the Company for any additional shares of

                                       4
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Common Stock (or Other Securities) issued or sold or deemed to have been issued
or sold, (b) the number of shares of Common Stock (or Other Securities)
outstanding or deemed to be outstanding, and (c) the Purchase Price and the
number of shares of Common Stock to be received upon exercise of this Warrant,
in effect immediately prior to such issue or sale and as adjusted and readjusted
as provided in this Warrant. The Company will forthwith mail a copy of each such
certificate to the Holder of this Warrant, and will, on the written request at
any time of the Holder of this Warrant, furnish to such Holder a like
certificate setting forth the Purchase Price at the time in effect and showing
how it was calculated.

         6. NOTICES OF RECORD DATE, ETC.

                  In the event of

                           (a) any taking by the Company of a record of the
         Holders of any class of securities for the purpose of determining the
         Holders thereof who are entitled to receive any dividend or other
         distribution, or any right to subscribe for, purchase or otherwise
         acquire any shares of stock of any class or any other securities or
         property, or to receive any other right, or

                           (b) any capital reorganization of the Company, any
         reclassification or recapitalization of the capital stock of the
         Company or any transfer of all or substantially all the assets of the
         Company to or consolidation or merger of the Company with or into any
         other Person, or

                           (c) any voluntary or involuntary dissolution,
         liquidation or winding-up of the Company,

then and in each such event the Company will mail or cause to be mailed to the
Holder of this Warrant a notice specifying (i) the date on which any such record
is to be taken for the purpose of such dividend, distribution or right, and
stating the amount and character of such dividend, distribution or right, and
(ii) the date on which any such reorganization, reclassification,
recapitalization, transfer, consolidation, merger, dissolution, liquidation or
winding-up is to take place, and the time, if any, as of which the Holders of
record of Common Stock (or Other Securities) shall be entitled to exchange their
shares of Common Stock (or Other Securities) for securities or other property
deliverable on such reorganization, reclassification, recapitalization,
transfer, consolidation, merger, dissolution, liquidation or winding-up. Such
notice shall be mailed at least 20 days prior to the date specified in such
notice on which any action is to be taken.

         7. RESERVATION OF STOCK, ETC. ISSUABLE ON EXERCISE OF WARRANT. The
Company will at all times reserve and keep available, solely for issuance and
delivery on the exercise of this Warrant, all shares of Common Stock (or Other
Securities) from time to time issuable on the exercise of this Warrant.

                                       5
<PAGE>

         8. EXCHANGE OF WARRANT. On surrender for exchange of this Warrant,
properly endorsed and in compliance with the restrictions on transfer set forth
in the legend on the face of this Warrant, to the Company, the Company at its
expense will issue and deliver to or on the order of the Holder thereof a new
Warrant of like tenor, in the name of such Holder or as such Holder (on payment
by such Holder of any applicable transfer taxes) may direct, calling in the
aggregate on the face or faces thereof for the number of shares of Common Stock
called for on the face of the Warrant so surrendered or for such lesser number
of shares of Common Stock as may be reflected on the Warrant Exercise Ledger
attached as Annex B.

         9. REPLACEMENT OF WARRANT. On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of any such loss, theft or destruction of this
Warrant, on delivery of an indemnity agreement or security reasonably
satisfactory in form and amount to the Company or, in the case of any such
mutilation, on surrender and cancellation of this Warrant, the Company at its
expense will execute and deliver, in lieu thereof, a new Warrant of like tenor.

         10. REMEDIES. The Company stipulates that the remedies at law of the
Holder of this Warrant in the event of any default or threatened default by the
Company in the performance of or compliance with any of the terms of this
Warrant are not and will not be adequate, and that such terms may be
specifically enforced by a decree for the specific performance of any agreement
contained herein or by an injunction against a violation of any of the terms
hereof or otherwise.

         11. NEGOTIABILITY, ETC.. This Warrant is issued upon the following
terms, to all of which each Holder or owner hereof by the taking hereof consents
and agrees:

                  (a) until this Warrant is transferred on the books of the
Company, the Company may treat the registered Holder hereof as the absolute
owner hereof for all purposes, notwithstanding any notice to the contrary; and

                  (b) this Warrant may not be sold, transferred or assigned
except pursuant to an effective registration statement under the Securities Act
or pursuant to an applicable exemption therefrom.

         12. REGISTRATION RIGHTS. The Company is obligated to register the
shares of Common Stock issuable upon exercise of this Warrant in accordance with
the terms of the Registration Rights Agreement.

         13. WARRANT REDEMPTION. Upon occurrence of the events described in
Sections 3.4 and 10.4(c) of the Purchase Agreement, the Company, at the request
of Holder, shall redeem all outstanding Warrants that remain unexercised at a
redemption price equal to the greater of (x) an appraised value of the Warrants,
as determined by Black Sholes, on the date they are called for redemption and
(y) the number of Warrants being redeemed multiplied by the excess of (A) the
average Closing Bid Price of the Common Stock for the five trading days
immediately prior to the date that the Warrants are called for redemption over
(B) the exercise price of the Warrants.

                                       6
<PAGE>

         14. NOTICES, ETC.. All notices and other communications from the
Company to the Holder of this Warrant shall be mailed by first class registered
or certified mail, postage prepaid, at such address as may have been furnished
to the Company in writing by such Holder or, until any such Holder furnishes to
the Company any address, then to, and at the address of, the last Holder of this
Warrant who has so furnished an address to the Company.

         15. MISCELLANEOUS. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination
is sought. This Warrant shall be construed and enforced in accordance with and
governed by the internal laws of the State of Texas. The headings in this
Warrant are for the purposes of reference only, and shall not limit or otherwise
affect any of the terms hereof. The invalidity or unenforceability of any
provision hereof shall in no way affect the validity or enforceability of any
other provision.

                            [SIGNATURE PAGE FOLLOWS]

                                       7
<PAGE>

         DATED as of September ___, 2005.

                                             ERF WIRELESS, INC.

                                             By: ___________________________
                                             Name:  R. Greg Smith
                                             Title:  Chief Executive Officer

[Corporate Seal]

Attest:

By:
     _______________, Secretary

                                       8
<PAGE>

                                    EXHIBIT A

                        FORM OF NOTICE EXERCISE - WARRANT
                       (To be executed only upon exercise
                       of the Warrant in whole or in part)

To ____________________________________________

                  The undersigned registered Holder of the accompanying Warrant,
hereby exercises such Warrant or portion thereof for, and purchases thereunder,
__________(1) shares of Common Stock (as defined in such Warrant) and herewith
makes payment therefor in the amount and manner set forth below, as of the date
written below. The undersigned requests that the certificates for such shares of
Common Stock be issued in the name of, and delivered to, _____________________
whose address is _______________________________________.

         The Exercise Price is paid as follows:

         |_|   Certified Bank draft payable to the Company in the amount of
               $_____________.
         |_|   Wire transfer to the account of the Company in the amount of
               $___________.

         Upon exercise pursuant to this Notice of Exercise, the Holder will be
in compliance with the Limitation on Exercise (as defined in the Securities
Purchase Agreement pursuant to which this Warrant was issued).

         The Holder of the shares of Common Stock received upon exercise of the
Warrant (the "Common Shares"), covenants and agrees that the Common Shares are
being acquired as an investment and not with a view to the distribution thereof
in violation of the Securities Act and that the Common Shares may not be
transferred, sold, assigned, hypothecated or otherwise disposed of, in whole or
in part except as provided in the legend on the first page of this Warrant and
provided that the Holder shall have furnished the Company an opinion of counsel
in form and substance reasonably acceptable to the Company to the effect that
such transfer is exempt from the registration requirements of the Securities Act
and any applicable state securities laws.*

Date: _____________________    ________________________________________________
                               (Name must conform to name of Holder as
                               specified on the face of the Warrant)

                               By:_____________________________________________
                                    Name: _____________________________________
                                    Title: ____________________________________

                               Address of Holder:______________________________
                                            ___________________________________
                                            ___________________________________

Date of exercise: _____________________

______________
         (1)Insert the number of shares of Common Stock as to which the
accompanying Warrant is being exercised. In the case of a partial exercise, a
new Warrant or Warrants will be issued and delivered, representing the
unexercised portion of the accompanying Warrant, to the Holder surrendering the
same.

                                       9
<PAGE>
<TABLE>

                                                              ANNEX B

                                                      WARRANT EXERCISE LEDGER

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------
                    ORIGINAL NUMBER OF       WARRANTS     EXERCISE PRICE       NEW BALANCE            ISSUER            HOLDER
      DATE               WARRANTS            EXERCISED         PAID            OF WARRANTS           INITIALS          INITIALS
----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------
<S>               <C>                      <C>           <C>                <C>                <C>                 <C>

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

----------------- ------------------------ ------------- ----------------- ------------------- ------------------- ---------------

ERF WIRELESS, INC.                                            HOLDER:

By:      _______________________                              By: ___________________
Name:     ______________________                              Name:__________________
Title:   _______________________                              Title:_________________

</TABLE>

                                                                10<PAGE>

                                                                   Exhibit 10.02
                                    EXHIBIT A
                        FORM OF SECURED CONVERTIBLE NOTE

<PAGE>

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER
HEREOF, BY PURCHASING SUCH SECURITIES AGREES FOR THE BENEFIT OF THE COMPANY THAT
SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE
COMPANY, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT, OR (C) IF REGISTERED UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS. IN ADDITION, A SECURITIES PURCHASE AGREEMENT, DATED AS OF THE
DATE HEREOF, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY AT ITS PRINCIPAL
EXECUTIVE OFFICE, CONTAINS CERTAIN ADDITIONAL AGREEMENTS AMONG THE PARTIES,
INCLUDING, WITHOUT LIMITATION, PROVISIONS WHICH (A) LIMIT THE CONVERSION RIGHTS
OF THE HOLDER, (B) SPECIFY VOLUNTARY AND MANDATORY REPAYMENT, PREPAYMENT AND
REDEMPTION RIGHTS AND OBLIGATIONS AND (C) SPECIFY EVENTS OF DEFAULT FOLLOWING
WHICH THE REMAINING BALANCE DUE AND OWING HEREUNDER MAY BE ACCELERATED.

No. 1                                                                 $1,285,000

                            SECURED CONVERTIBLE NOTE
                                       of
                               ERF Wireless, Inc.

         ERF Wireless, Inc., a Nevada corporation (together with its successors,
the "Company"), for value received hereby promises to pay to:

                       GLOBAL CAPITAL FUNDING GROUP, L.P.

(the "Holder") and registered assigns, the principal sum of One Million Two
Hundred Eighty-five Thousand ($1,285,000) or, if less, the principal amount of
this Note then outstanding, on the Maturity Date by wire transfer of immediately
available funds to the Holder in such coin or currency of the United States of
America as at the time of payment shall be legal tender for the payment of
public and private debts, and to pay interest, which shall begin to accrue on
the date of this Secured Note ("Note"), quarterly in arrears, on (i) the last
day of March, June, September and December of each year until the Maturity Date,
commencing September 30, 2005 (unless such day is not a Business Day, in which
event on the next succeeding Business Day) (each an "Interest Payment Date"),
(ii) the Maturity Date, and (iii) the date the principal amount of the Note
shall be declared to be or shall automatically become due and payable, on the
principal sum hereof outstanding in like coin or currency, at the rates per
annum set forth below, from the most recent Interest Payment Date to which
interest has been paid on this Note, or if no interest has been paid on this
Note, from the date of this Note until payment in full of the principal sum
hereof has been made.

                                       1
<PAGE>

         The interest rate shall be six percent (6%) per annum (the "Interest
Rate") or, if less, the maximum rate permitted by applicable law. At the option
of the Company, interest may be paid in cash or in shares of Common Stock. The
number of shares of Common Stock issued as interest shall be determined by
dividing the dollar amount of interest due on the applicable Interest Payment
Date by the Market Price then in effect. "Market Price" shall mean the VWAP for
the Common Stock as reported by Bloomberg, L.P., for five trading days
immediately prior to the date such interest becomes due. Past due amounts
(including interest, to the extent permitted by law) will also accrue interest
at the Interest Rate plus 4% per annum or, if less, the maximum rate permitted
by applicable law, and will be payable on demand (`Default Interest"). Interest
on this Note will be calculated on the basis of a 360-day year of twelve 30 day
months. All payments of principal and interest hereunder shall be made for the
benefit of the Holder pursuant to the terms of the Agreement (hereafter
defined).

         This Note (this "Note") is secured by a Security Agreement (the
"Security Agreement") of even date herewith made by the Company (or one of its
subsidiaries, as applicable) and Holder creating a security interest in favor of
Holder in certain of the assets described in the Security Agreement (the
"Collateral").

         This Note is a duly authorized issuance of $1,285,000.00 aggregate
principal amount of Notes of the Company dated as of the date hereof of the
Company referred to in that certain Securities Purchase Agreement dated as of
the date hereof between the Company and the Purchaser named therein (the
"Agreement"). The Agreement and the Security Agreement contain certain
additional agreements among the parties with respect to the terms of this Note,
including, without limitation, definitions and provisions which (A) specify
voluntary and mandatory repayment, prepayment and redemption rights and
obligations and (B) specify Events of Default following which the remaining
balance due and owing hereunder may be accelerated. All such definitions and
provisions are an integral part of this Note and are incorporated herein by
reference. This Note is transferable and assignable to one or more Persons, in
accordance with the limitations set forth in the Agreement.

         The Company shall keep a register (the "Register") in which shall be
entered the names and addresses of the registered holder of this Note and
particulars of this Note held by such holder and of all transfers of this Note.
References to the Holder or "Holders" shall mean the Person listed in the
Register as registered holder of such Notes. The ownership of this Note shall be
proven by the Register.

1. CERTAIN TERMS DEFINED. All terms defined in the Agreement and not otherwise
defined herein shall have for purposes hereof the meanings provided for in the
Agreement.

2. COVENANTS. The Company covenants and agrees to observe and perform each of
its covenants, obligations and undertakings contained in the Agreement, which
obligations and undertakings are expressly assumed herein by the Company and
made for the benefit of the holder hereof.

                                       2
<PAGE>

3. PAYMENT OF PRINCIPAL.

         3.1 PREPAYMENT OF NOTE. For so long as no Event of Default shall have
         occurred and is continuing and the Company is not in receipt of a
         Notice of Conversion from the Holder of the Note, the Company may, at
         its option, prepay, in whole or in part, this Convertible Note for a
         pre-payment price (the "Prepayment Price") equal to (i) 102% of the
         Principal Amount of the Note, plus all accrued but unpaid interest
         until the first anniversary of the date of this Convertible Note; and
         (ii) 101% of the Principal Amount of the Note, plus all accrued and
         unpaid interest on any day following the first anniversary of this
         Convertible Note. Any partial prepayment of the Convertible Note, at
         any time after issuance, shall be credited to the principal amount of
         the Convertible Note equal to such partial prepayment amount. The
         Company shall not be entitled to send any notice of prepayment and
         begin the prepayment procedure unless it has (i) the appropriate
         Prepayment Price, in cash, available in a demand or other immediately
         available account in a bank or similar financial institution or (ii)
         immediately available credit facilities, in the amount of the
         appropriate Prepayment Price, with a bank or similar financial
         institution on the date the prepayment notice is sent to the Holders of
         this Convertible Note. Provided, however, the Company will process any
         Notice of Conversion received prior to the issuance of a notice of
         prepayment; and further provided that, after a notice of prepayment has
         been issued, the Holder may issue a Notice of Conversion which will not
         be honored unless the Company fails to make the prepayment payment when
         due. In the event of such failure, the Notice of Conversion will be
         honored as of the date of the Notice of Conversion

         3.2 PAYMENT ON MATURITY DATE. The Company shall repay the remaining
         unpaid balance of this Convertible Note on the Maturity Date.

4. CONVERSION.

         4.1 CONVERSION OF CONVERTIBLE NOTE. Subject to Section 5 hereof, the
         Holder shall have the right, at its option, at any time from and after
         the date of this Convertible Note to convert into Common Stock of the
         Company. This Convertible Note shall be convertible into that number of
         fully paid and nonassessable shares of Common Stock (as such shares
         shall then be constituted) determined pursuant to this Section 4.1. The
         number of shares of Common Stock to be issued upon each conversion of
         this Convertible Note shall be determined by dividing the Conversion
         Amount (as defined below) by the Conversion Price in effect on the date
         (the "Conversion Date") a Notice of Conversion is delivered to the
         Company, as applicable, by the Holder by facsimile or other reasonable
         means of communication dispatched prior to 5:00 p.m., E.S.T. The term
         "Conversion Amount" means, with respect to any conversion of this
         Convertible Note, the sum of (1) the principal amount of this
         Convertible Note to be converted in such conversion plus (2) accrued
         and unpaid interest, if any, on such principal amount at the interest
         rates provided in this Convertible Note to the Conversion Date plus (3)
         Default Interest, if any, on the interest referred to in the
         immediately preceding clause (2) plus (4) at the Holder's option, any
         amounts owed to the Holder pursuant to Section 4.3 hereof, Section 10.1
         of the Agreement or Section 10.4 of the Agreement.

                                       3
<PAGE>

         4.2 CONVERSION PRICE. At the option of the Holder, any portion or all
         of the outstanding principal amount of this Convertible Note shall be
         converted into a number of shares of Common Stock at the conversion
         price (the "Conversion Price") equal to the lesser of (i) the VWAP, as
         reported on Bloomberg, L.P. ("Bloomberg") on the Trading Day
         immediately prior to the Closing Date; or (ii) 85% of the average of
         the three lowest VWAPs, as reported by Bloomberg, during the ten (10)
         Trading Days immediately preceding the date of the related notice of
         conversion; provided further, however, that, for the six (6) month
         period following the Effective Date, in no event will the Conversion
         Price be lower than the lesser of (y) $1.50 or (z) 50% of the VWAP, as
         reported by Bloomberg, on the Effective Date of the Registration
         Statement. Upon expiration of the foregoing six (6) month period or
         upon occurrence of an Event of Default which is not cured, the
         foregoing floor calculation shall no longer be effective and shall
         disappear permanently.

         4.3 AUTHORIZED SHARES.

                  (a) Consistent with Section 7.11 of the Agreement, the Company
         (i) shall promptly irrevocably instruct the Company's transfer agent to
         issue certificates for the Common Stock issuable upon conversion of
         this Convertible Note and (ii) agrees that its issuance of this
         Convertible Note shall constitute full authority to its officers and
         agents who are charged with the duty of executing stock certificates to
         execute and issue the necessary certificates for shares of Common Stock
         in accordance with the terms and conditions of this Convertible Note.

                  (b) If at any time the Holder submits a Notice of Conversion
         and (x) the Company does not have sufficient authorized but unissued
         shares of Common stock available to effect such conversion in full in
         accordance with Article 4 or (y) the Company is prohibited by the OTC
         Bulletin Board or any National Market on which the Common Shares are
         listed and traded at that time to effect such conversion in full,
         without shareholder approval, the Company shall issue to the Holder all
         of the shares of Common Stock which are then available to effect such
         conversion. The portion of this Convertible Note which the Holder
         included in its Conversion Notice and which exceeds the amount which is
         then convertible into available shares of Common Stock (the "Excess
         Amount") shall, notwithstanding anything to the contrary contained
         herein, not be convertible into Common Stock until the date additional
         shares of Common Stock are authorized by the Company, or its
         shareholders, as applicable. The Company shall use its best efforts to
         authorize, or cause its shareholders to authorize within 40 days of the
         submission of the Conversion Notice, a sufficient number of shares of
         Common Stock to effect the full conversion set forth in the Conversion
         Notice.

                  (c) In no event shall the Company issue upon conversion of
         this Convertible Note more than the maximum number of shares allowable
         without shareholder approval under the applicable rules of the OTC
         Bulletin Board or any National Market on which the Common Shares are
         listed and traded unless the Company shall have obtained approval by

                                       4
<PAGE>

         the shareholders of the Company or a waiver of such requirement. Once
         the maximum number of shares has been issued (the date of which is
         hereinafter referred to as the "Maximum Conversion Date"), unless the
         Company shall have obtained shareholder approval or a waiver of such
         requirement within 40 days of the Maximum Conversion Date, the Company
         shall pay to the Fund the Redemption Price.

                  (d) The Maximum Number of Shares shall be subject to
         adjustment from time to time for stock splits, stock dividends,
         combinations, capital reorganizations and similar events relating to
         the Common Stock occurring after the date hereof as contemplated by
         Article XI of the Agreement. In the event that the Company obtains
         Stockholder Approval, approval of the OTC Bulletin Board or the
         National Market on which the Common Shares are listed and traded at
         that time, or otherwise is able to increase the number of shares to be
         issued above the Maximum Number of Shares (such increased number being
         the "New Maximum Number of Shares"), the references to Maximum Number
         of Shares above shall be deemed to be, instead, references to the New
         Maximum Number of Shares.

         4.4 METHOD OF CONVERSION.

                  (a) Notwithstanding anything to the contrary set forth herein,
         upon conversion of this Convertible Note in accordance with the terms
         hereof, the Holder shall not be required to physically surrender this
         Convertible Note to the Company unless the entire unpaid principal
         amount of this Convertible Note is so converted. Rather, records
         showing the principal amount converted (or otherwise repaid) and the
         date of such conversion or repayment shall be maintained on a ledger
         substantially in the form of ANNEX A attached hereto (a copy of which
         shall be delivered to the Company or transfer agent with each Notice of
         Conversion). It is specifically contemplated that the Holder hereof
         shall act as the calculation agent for conversions and repayments. In
         the event of any dispute or discrepancies, such records maintained by
         the Holder shall be controlling and determinative in the absence of
         manifest error or failure of Holder to record the principal amount
         converted (or otherwise repaid) from time to time, in which events the
         record of the Company shall be controlling and determinative. The
         Holder and any assignee, by acceptance of this Convertible Note,
         acknowledge and agree that, by reason of the provisions of this
         paragraph, following a conversion of a portion of this Convertible
         Note, the principal amount represented by this Convertible Note will be
         the amount indicated on ANNEX A attached hereto (which may be less than
         the amount stated on the face hereof).

                  (b) The Company shall not be required to pay any tax which may
         be payable in respect of any transfer involved in the issuance and
         delivery of shares of Common Stock or other securities or property on
         conversion of this Convertible Note in a name other than that of the
         Holder (or in street name), and the Company shall not be required to
         issue or deliver any such shares or other securities or property unless
         and until the person or persons (other than the Holder or the custodian
         in whose street name such shares are to be held for the Holder's
         account) requesting the issuance thereof shall have paid to the Company
         the amount of any such tax or shall have established to the
         satisfaction of the Company that such tax has been paid.

                                       5
<PAGE>

                  (c) Subject to Section 5 hereof, upon receipt by the Company
         of a Notice of Conversion, the Holder shall be deemed to be the holder
         of record of the Common Stock issuable upon such conversion, the
         outstanding principal amount and the amount of accrued and unpaid
         interest on this Convertible Note shall be deemed reduced to reflect
         such conversion, and, unless the Company defaults on its obligations
         under this Article 4, all rights with respect to the portion of this
         Convertible Note being so converted shall forthwith terminate except
         the right to receive the Common Stock or other securities, cash or
         other assets, as herein provided, on such conversion. Subject to
         Section 5 hereof, if the Holder shall have given a Notice of Conversion
         as provided herein, the Company's obligation to issue and deliver the
         certificates for shares of Common Stock shall be absolute and
         unconditional, irrespective of the absence of any action by the Holder
         to enforce the same, any waiver or consent with respect to any
         provisions thereof, the recovery of any judgment against any person or
         any action by the Holder to enforce the same, any failure or delay in
         the enforcement of any other obligation of the Company to the Holder of
         record, or any setoff, counterclaim, recoupment, limitation or
         termination, or any breach or alleged breach by the Holder of any
         obligation to the Company, and subject to Section 4.4(a) irrespective
         of any other circumstance which might otherwise limit such obligation
         of the Company to the Holder in connection with such conversion. The
         date of receipt (including receipt via telecopy) of such Notice of
         Conversion shall be the Conversion Date so long as it is received
         before 5:00 p.m., E.S.T., on such date.

                  (d) Notwithstanding the foregoing, if a Holder has not
         received certificates for all shares of Common Stock prior to the
         expiration of the Deadline with respect to a conversion of any portion
         of this Convertible Note for any reason, then (unless the Holder
         otherwise elects to retain its status as a holder of Common Stock by so
         notifying the Company), the Holder shall regain the rights of a Holder
         of this Convertible Note with respect to such unconverted portions of
         this Convertible Note and the Company shall, as soon as practicable,
         return such unconverted Convertible Note to the holder or, if the
         Convertible Note has not been surrendered, adjust its records to
         reflect that such portion of this Convertible Note not been converted.
         In all cases, the Holder shall retain all of its rights and remedies
         including, without limitation, the right to receive any amounts due
         pursuant to Section 10.1 of the Agreement.

                  (e) In lieu of delivering physical certificates representing
         the Common Stock issuable upon conversion, provided the Company's
         transfer agent is participating in the Depository Trust Company ("DTC")
         Fast Automated Securities Transfer program, upon request of the Holder
         and its compliance with the provisions contained in Section 4.1 and in
         this Section 4.4, the Company shall use its best efforts to cause its
         transfer agent to electronically transmit the Common Stock issuable
         upon conversion to the Holder by crediting the account of Holder's
         Prime Broker with DTC through its Deposit Withdrawal Agent Commission
         System.

                                       6
<PAGE>

5. REDEMPTION BY COMPANY.

         5.1 MANDATORY REDEMPTION. In accordance with the provisions of the
         Purchase Agreement, the Company may be required under certain
         circumstances, to redeem in whole or in part, the remaining unpaid
         principal amount of this Convertible Note, for cash at a redemption
         price (the "Redemption Price") equal to the applicable Prepayment
         Price.

         5.2 MECHANICS OF REDEMPTION. The Company shall effect each such
         redemption within seven business days of receiving a notice to redeem
         by facsimile with a copy by either overnight or 2-day courier from the
         Holder of this Convertible Note. Such redemption notice shall indicate
         whether the Company is required to redeem all or part of such portion
         of the Convertible Note and the applicable Redemption Price.

         5.3 PAYMENT OF REDEMPTION PRICE. The Redemption Price shall be paid to
         the Holder of this Convertible Note within seven business days of the
         delivery of the notice of such redemption to such Holder.

6. MISCELLANEOUS. This Convertible Note shall be deemed to be a contract made
under the laws of the State of Texas, and for all purposes shall be governed by
and construed in accordance with the laws of said State. The parties hereto,
including all guarantors or endorsers, hereby waive presentment, demand, notice,
protest and all other demands and notices in connection with the delivery,
acceptance, performance and enforcement of this Convertible Note, except as
specifically provided herein, and asset to extensions of the time of payment, or
forbearance or other indulgence without notice. The Company hereby submits to
the exclusive jurisdiction of the United States District Court for the State of
Texas and any state court sitting in Texas for purposes of all legal proceedings
arising out of or relating to this Convertible Note. The Company irrevocably
waives, to the fullest extent permitted by law, any objection which it may now
or hereafter have to the laying of the venue of any such proceeding brought in
such a court and any claim that any such proceeding brought in such a court has
been brought in an inconvenient forum. The Company hereby irrevocably waives any
and all right to trial by jury in any legal proceeding arising out of or
relating to this Convertible Note.

         The Holder of this Convertible Note by acceptance of this Convertible
Note agrees to be bound by the provisions of this Convertible Note which are
expressly binding on such Holder.

                             SIGNATURE PAGE FOLLOWS

                                       7
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

         Dated: August ___, 2005

                                                     ERF WIRELESS, INC.

                                                     By: Name:__________________
                                                     Title:

                                       8
<PAGE>
<TABLE>

                                                              ANNEX A

                                                  CONVERSION AND REPAYMENT LEDGER

                                    INTEREST        PRINCIPAL CONVERTED
DATE     PRINCIPAL    BALANCE   CONVERTED OR PAID        OR PAID           NEW PRINCIPAL BALANCE    ISSUER INITIALS  HOLDER INITIALS
----     ---------    -------   -----------------        -------           ---------------------    ---------------  ---------------
<S>      <C>          <C>       <C>                  <C>                    <C>                      <C>             <C>

</TABLE>

                                                                9
<PAGE>

FULL NAME AND ADDRESS OF SUBSCRIBER FOR REGISTRATION PURPOSES:

NAME:

ADDRESS:

TEL NO:

FAX NO:

CONTACT NAME:

DELIVERY INSTRUCTIONS (IF DIFFERENT FROM REGISTRATION NAME):

NAME:

ADDRESS:

TEL NO:

FAX NO:

CONTACT NAME:

SPECIAL INSTRUCTIONS:

                                       10
<PAGE>

                              NOTICE OF CONVERSION

                    (To be Executed by the Registered Holder
                    in order to Convert the Convertible Note)

                  The undersigned hereby irrevocably elects to convert
$_________________of the principal balance of the Convertible Note into
shares of Common Stock, ____ par value per share (the "Common Stock"), of
Universal Automotive Industries, Inc. (the "Company") according to the
conditions hereof, as of the date written below. No fee will be charged to the
Holder for any conversion, except for transfer taxes, if any. The undersigned,
as contemplated by Section 5.1 of the Securities Purchase Agreement pursuant to
which the Convertible Note was issued, hereby states that the representations
and warranties of the undersigned set forth therein are true and correct in all
material respects as of the date hereof (provided, the undersigned makes no
representations concerning its investment intent with respect to the Common
Stock received upon this conversion).

Conversion calculations:

                                            Date of Conversion

                                            Applicable Conversion Price

                                            Number of Shares

                                            Name/Signature

                                            Address:

                                       11

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