Document:

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                                                                    Exhibit 10.1

                                PROMISSORY NOTE

$778,414.05                                                    December 30, 2003

     FOR VALUE RECEIVED, the undersigned, Jill Kelly Productions, Inc. the
"Obligor"), hereby promises to pay to The Matzuda Corporation (the "Holder"),
the principal sum of Seven Hundred Seventy Eight Thousand, Four Hundred
Fourteen and 15/100 Dollars ($778,414.05) payable as set forth below. The
outstanding balance of principal shall bear interest at the rate of fifteen
percent (15%) per annum. Any amount of principal and interest not paid when due
shall thereafter bear interest at the rate of eighteen percent (18%) per annum
until paid. The payments of principal and interest hereunder shall be made in
currency of the United States of America which at the time of payment shall be
legal tender therein for the payment of public and private debts.

     This Note shall be subject to the following additional terms and
conditions:

1.   Payments. Interest on the principal balance outstanding from time to time
     shall be by March 31, 2005 (Maturity Date). In the event that any payment
     to be made hereunder shall be or become due on Saturday, Sunday or any
     other day which is a legal bank holiday under the laws of the California,
     such payment shall be or become due on the next succeeding business day.

2.   Prepayment. The Holder and the Obligor agree and understand that the entire
     principal amount, or any portion thereof, of this Note outstanding may be
     prepaid at any time prior to the Maturity Date.

3.   No Waiver. No failure or delay by the Holder in exercising any right, power
     or privilege under this Note shall operate as a waiver thereof nor shall
     any single or partial exercise thereof preclude any other or further
     exercise thereof or the exercise of any other right, power or privilege.
     The rights and remedies herein provided shall be cumulative and not
     exclusive of any rights or remedies provided by law. No course of dealing
     between the Obligor and the Holder shall operate as a waiver of any rights
     by the Holder.

4.   Place of Payment. All payments of principal of this Note and the interest
     due hereon shall be made at such place as the Holder may from time to time
     designate in writing.

5.   Events of Default: Remedies. The term "EVENT OF DEFAULT" hereunder shall
     mean the occurrence of one or more of the following:

          (a)  The nonpayment, when due, of any amount payable under this Note
or any other instrument, agreement or document by or between Holder and Obligor;

          (b)  Obligor shall become insolvent, make an assignment for the
benefit of creditors or file or have filed against it any petition, actions, or
case or proceeding, voluntarily or

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involuntarily under any law or statute regarding bankruptcy, insolvency,
reorganization, receivership or dissolution;

     (c) Any material breach of the representations, warranties, covenants or
agreements contained in that certain Master Agreement dated as of the date
hereof by and between Obligor and Holder, the Operating Agreement of Obligor or
any document or instrument entered into or issued in connection therewith.

5.   Severability. In the event that one or more of the provisions of this Note
     shall for any reason be held invalid, illegal or unenforceable in any
     respect, such invalidity, illegality or unenforceability shall not affect
     any other provision of this Note, but this Note shall be construed as if
     such invalid, illegal or unenforceable provision had never been contained
     herein.

6.   Governing Law and Jurisdiction. This Note and the right and obligations of
     the Obligor and the Holder shall be governed by and construed in accordance
     with the laws of the State of California. The obligor consents to the
     jurisdiction of the federal and state courts located in California in any
     action commenced to enforce this Note.

7.   Notice. Any notice given pursuant to this Note shall be in writing and
     shall be delivered by hand, or by certified or registered mail, postage
     prepaid, or by telex or telecopy, or by Federal Express, DHL or other
     similar courier, addressed to the party to whom intended at the address set
     forth above, or such other address as such party may designate by
     appropriate notice, and such notice shall be deemed given when personally
     delivered, mailed, sent or deposited with a courier, as the case may be.

IN WITNESS WHEREOF, the OBLIGOR and HOLDER has signed this Note as of this 30th
day of December, 2003.

                                                 OBLIGOR:

                                                 JILL KELLY PRODUCTIONS, INC.

                                                 By: /s/
                                                    ----------------------------
                                                    Ronald C. Stone, Chief
                                                    Financial Officer

                                                 THE MATZUDA CORPORATION

                                                 By: /s/ Robert A. Friedland
                                                    ----------------------------
                                                 Name: Robert A. Friedland
                                                 Title: President

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                                                                    EXHIBIT 10.2

                              SETTLEMENT AGREEMENT

            This Settlement Agreement (the "Agreement") is entered into this
21st day of September, 2003, by and between Michael Koretsky whose address is
1064 Buck Creek Circle, Yardley, PA 19067, phone number (609) 209-1592
("Holder") and Jill Kelly Productions Holding, Inc., a Nevada corporation
("JKXJ"), for mutual consideration and the purposes expressed herein.

                                    RECITALS

            WHEREAS, Jill Kelly Productions, Inc. ("JKP"), a Delaware
corporation and a wholly owned subsidiary of JKXJ, issued a certain promissory
note (the "Promissory Note") for $250,000 to the Holder attached hereto as
Exhibit A and incorporated herein by reference;

            WHEREAS, it is the desire of JKXJ and the Holder to satisfy the
Promissory Note with the issuance of certain shares of JKXJ to the Holders;

            NOW THEREFORE, in exchange for the mutual premises and consideration
contained herein and for other good and valuable consideration, receipt of which
is hereby acknowledged, it is agreed as follows:

      1. Acknowledgement of Debt. JKXJ acknowledges that it owes the Holder Two
Hundred Fifty Thousand Dollars ($250,000) plus applicable interest pursuant to
the Note (the "Obligation").

      2. Series A Preferred Shares. The Obligation shall be paid in the form of
2,500 Series A Preferred Shares of JKXJ (the "Preferred Shares") and 250,000
warrants (the "Warrants") to purchase common stock of JKXJ. Each Warrant
entitles the holder to purchase one share of the JKXJ's common stock at an
exercise price of $0.25 per Warrant for a period of five years from issuance. In
order to receive the Preferred Shares and the Warrants, the Holder must complete
the Subscription Agreement attached hereto at Exhibit B and the Investor
Questionnaire attached hereto as Exhibit C.

      3. Satisfaction of Note. Once the Preferred Shares and the Warrants are
issued to the Holder, the Note shall be satisfied in full and there shall be no
further obligations of JKXJ related to the Note.

      4. Miscellaneous.

            (a) Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under applicable law, then such invalidity,
illegality or unenforceability shall not affect the other provisions of this
Agreement.

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            (b) This Agreement may be executed in separate counterparts, each of
which is deemed to be an original hereof, and all of which taken together shall
constitute one and the same agreement.

            (c) Descriptive headings in this Agreement are inserted for
convenience of reference only and are not intended to be part of or affect the
meaning or interpretation of this Agreement.

            (d) The parties hereto acknowledge that the transactions
contemplated by this Agreement and the exhibits hereto bear a reasonable
relation to the state of New York. This Agreement shall be enforced in
accordance with, and all questions regarding the construction, validity,
interpretation and purpose of this Agreement shall be governed by, the internal
laws of the state of New York, without giving effect to provisions thereof
regarding conflict of laws. Any action to enforce the terms of this Agreement
shall be brought exclusively in the state and/or federal courts situate in the
county and state of New York. Service of process in any action by either party
to enforce the terms of this Agreement may be made by serving a copy of the
summons and complaint, in addition to any other relevant documents, by
commercial overnight courier to the other party at the address set forth in this
Agreement.

            (f) Except as otherwise provided herein, any notice provided for in
this Agreement must be in writing and must be either (a) hand delivered, (b)
mailed by registered or certified first class mail, postage prepaid with return
receipt requested, (c) sent by reputable overnight courier service for next
business morning delivery, or (d) sent by telecopy to the recipient at the
address/telecopy number below indicated:

      If to JKXJ:       Jill Kelly Productions Holdings, Inc.
                        P.O. Box 691447
                        Los Angeles, CA 90069
                        Attn.:  Robert Friedland
                        Telephone: (310) 360-7900
                        Facsimile: (310) 360-7933

      With a copy to:   Gottbetter & Partners, LLP
                        488 Madison Avenue
                        New York, New York 10022
                        Attn.: Adam S. Gottbetter, Esq.
                        Telephone: (212) 400-6900
                        Facsimile: (212) 400-6901

      If to the Holder: to the address in the preamble

or such other address/telecopy number or to the attention of such other person
as the recipient party shall have specified by prior written notice to the
sending party.

            Any notice under this Agreement shall be deemed to have been given
(i) on the date such notice is hand delivered, (ii) three (3) days after the
date of mailing if mailed by certified or registered mail, (iii) on the business
day next following the day notice is sent via

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overnight courier service, or (iv) as of the beginning of the next day if such
notice is sent by telecopy.

            (g) This Agreement embodies the complete agreement and understanding
between the parties with respect to the subject matter hereof and supersedes and
preempts any prior understandings, agreements and/or representations by or
between the parties, written or oral, related to the subject matter hereof in
any way.

            (h) No waiver of any of the provisions hereof shall be effective
unless in writing and signed by the party to be charged with such waiver. No
waiver shall be deemed a continuing waiver or waiver in respect of any
subsequent breach or default, whether of similar or different nature, unless
expressly so stated in writing.

            (i) Each party hereto shall cooperate and shall take such further
action and shall execute and deliver such further documents as may be reasonably
requested by any other party in order to carry out the provisions and purposes
of this Agreement.

            (j) Notwithstanding any rule of law or custom to the contrary,
neither this Agreement nor any other agreement or document collateral to or
otherwise relating to this Agreement shall be interpreted or construed against
any party merely by reason of the fact that such agreement or document was
prepared by or at the direction of such party or that such party caused this
Agreement to be drafted.

                            [Signature Page Follows]

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IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of
the day and year first above written.

                                           JILL KELLY PRODUCTIONS HOLDING, INC.

                                           By:   /s/ Robert Friedland
                                                 -------------------------------
                                                 Robert Friedland

                                                 /s/ Michael Koretsky
                                                 -------------------------------
                                                 Michael Koretsky

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