Document:

Asset Purchase Agreement

     This Asset Purchase Agreement (the "Agreement") is made and effective
February 4, 2000, by and between CraftClick.com, Inc., An Utah Corporation
("Buyer") and Stitches to go, a Partnership ("Seller").

     Seller operates a Stitchery web site specific to the online crafts
community under the name gostitch.com (the "Business").

     Seller desires to sell to Buyer, and Buyer desires to purchase from
Seller, certain assets of Seller used in the Business, subject to the terms of
this Agreement.

     NOW, THEREFORE, the parties agree as follows:

1.   Transfer of Assets.  At the Closing, subject to the terms of this
Agreement, Seller shall sell, assign, transfer, convey and deliver to Buyer,
and Buyer shall purchase from Seller, free and clear of all liens,
encumbrances, claims, clouds, charges, equities or imperfections of any
nature, all software, databases, contract rights, customer lists, trademarks,
trade names, intellectual property, goodwill, materials, supplies, telephone
numbers, business records, and other assets owned by Seller and used or useful
in the Business and related operations.  The assets and properties to be
transferred by Seller to Buyer shall include, without limitation those
identified in Exhibit A attached hereto.

  2. Conveyance and Transfer Documents.  Seller agrees to deliver to Buyer at
the Closing such certificates, bills of sale, documents of title and other
instruments of conveyance and transfer, in form and content satisfactory to
Buyer, as shall be effective to vest in Buyer good and marketable title in and
to any property to be sold, assigned, transferred, conveyed and delivered
hereunder.

3.   Payment of Purchase Price.  In exchange for full payment for all of the
items purchased from Seller, Buyer shall issue Seller 350,000 shares of its
common stock. Such issued shares shall be "restricted securities" and shall be
imprinted with the following legend or a reasonable facsimile thereof on the
front and reverse sides thereof:

"The shares of stock represented by this certificate have not been registered
under the Securities Act of 1933, as amended, and may not be sold or otherwise
transferred unless compliance with the registration provisions of such Act has
been made or unless availability of an exemption from such registration
provisions has been established, or unless sold pursuant to Rule 144 under the
Act."

4.   Nonassumption of Liabilities.  Except as otherwise agreed expressly in
writing and those specifically identified in Exhibit A, Buyer does not and
shall not assume or agree to pay any of Seller's or, where applicable, any
shareholder's, partner's, or member's, liabilities or obligations of any
nature or kind.  Seller and, where applicable, any shareholder, partner, or
member, shall each remain responsible for their respective debts and
obligations.

5.   Further Assurances.  From time to time after the date of this Agreement,
Seller shall give to Buyer, and to Buyer's representatives, auditors and
counsel, full access during normal business hours to all of the properties,
books, records, tax returns, contracts, licenses, franchises and all of the
documents of Seller relating to the Business and shall furnish to Buyer all
information with respect to the Business, as Buyer may from time to time
reasonably request.  Promptly following execution of this Agreement, Seller
shall use Seller's best efforts to obtain all consents (if any, including,
without limitation, consents of any government or governmental agency)
necessary to effect the sale, assignment, transfer, conveyance and delivery
contemplated by Section 1 hereof.  From time to time after the Closing, at
Buyer's request and without further consideration, Seller agrees to execute
and deliver at Seller's expense such other instruments of conveyance and
transfer and take such other action as Buyer reasonably may require more
effectively to sell, assign, transfer, convey, deliver and vest in Buyer, and
to put Buyer in possession of, any property to be sold, assigned, transferred,
conveyed and delivered hereunder.

6.   Closing.
A.   The issuance of shares, delivery of documents and completion of other
items related to the transfer of the Business and the assets purchased by
Buyer (the "Closing") shall be held on February 14, 2000, at 5:00 p.m., at
Seller's location, or on such other date, and at such other time and place, as
mutually agreed upon by the parties in writing.
B.   At the Closing:
          (i)  Seller shall execute and deliver to Buyer the instruments of
conveyance and transfer called for in Section 2 hereof;
          (ii) Buyer shall deliver to Seller a Board resolution instructing
the Buyer's transfer agent to issue the stock called for in Section 3 above.

7.   Representations and Warranties of Seller.  Seller represents and
warrants to and covenants with Buyer, and Buyer's successors and assigns
(which representations, warranties and covenants shall survive the Closing),
as follows:
A.   Seller has full power and authority to execute and deliver the Agreement
and to consummate the transactions contemplated hereby.
B.   This Agreement and Seller's performance of the obligations herein do not
constitute the breach or violation of any agreement, covenant, obligation or
promise to which Seller is legally bound.
C.   Seller's execution, delivery and performance of this Agreement will not
constitute the breach or violation of any agreement, obligation, promise,
covenant or court order with respect to any spousal maintenance or child
support obligation and that Seller's spouse, if any, does not own any part of
the Business and no consent or waiver by any such spouse is required to
complete Seller's obligations herein.
D.   Except as otherwise disclosed by Seller in writing, as of the date of
this Agreement, the assets and properties of Seller are not, and as of the
Closing they will not be, subject to any liens, encumbrances, claims, clouds,
charges, equities or imperfections of any nature.
E.   Neither the execution or delivery by Seller of this Agreement or the
transactions contemplated hereby will: (i) result in the creation of any lien,
security interest, or encumbrance upon any of the assets of Seller; (ii)
violate any order, writ, injunction, decree, judgment, law, rule, regulation
or ruling of any court or governmental authority applicable to Seller or any
of its properties; or (iii) require any consent, approval or authorization of,
or declaration, filing or registration with, any governmental or regulatory
authority.
F.   Seller, and where applicable any shareholder, officer, director, member
or partner, are in violation of, or under investigation with respect to, or
have been charged with or given notice of, any violation of any applicable
law, statute, order, rule, regulation, policy or guideline promulgated or
judgment entered, by any federal, state or local court or governmental
authority relating to or affecting the Business, Seller or any of Seller's
assets.
G.   As of the Closing Date there has not been, any materially adverse change
in the financial condition, assets, liabilities, business or property of
Seller, or with respect to its employees or customers, and Seller has no
knowledge of any fact or contemplated event which may, in the future, cause
any such materially adverse change.  As of the date of Closing, the business
of the Seller has been, and will be, conducted only in the ordinary course.
H.   Copies of all instruments, agreements and other documents which have
been delivered or may be delivered to Buyer by Seller pursuant to or in
connection with this Agreement are and will be complete and correct as of the
date hereof and as of the Closing.  Exhibits B and C, attached hereto and made
a part hereof, are lists of all contracts, leases, licenses and other
agreements relating to the Business.  Seller is not in default and has not
received any notice of default under any such contract, lease, license or
other agreement or under any other obligation relating to the Business.
I.   As of the date hereof there is, and on the Closing Date there will be,
no litigation at law or in equity, no proceeding before any commission or
other administrative or regulatory authority, and no dispute, claim or
controversy (including, without limitation, labor union strikes, elections,
arbitrations, grievances, complaints, or administrative actions) pending, or
to the knowledge of Seller threatened, against or affecting the business or
property of Seller or it right to carry on it business and enter into and
consummate the transactions contemplated by this Agreement.
J.   There is no unfair labor practice complaint against Seller pending
before the National Labor Relations Board.  There is no labor strike dispute,
slowdown or stoppage, or any union organizing campaign, pending, or to the
best of the knowledge of Seller, threatened against or involving Seller.  No
labor agreements have been filed with Seller which has had, or may have, a
materially adverse effect on Seller's business.  No collective bargaining
agreement is currently being negotiated with Seller.
K.   Seller has not employed any broker or finder or incurred any liability
for any brokerage fees, commissions, finder fees or similar fees or expenses,
and no broker or finder has acted directly or indirectly for Seller in
connection with this Agreement or the transactions contemplated hereby.
L.   On the date hereof Seller has, and on the Closing Seller shall have,
duly prepared and timely filed all local, state and federal tax returns
(including, without limitation, those which relate to FICA, withholding and
other payroll taxes) required to be filed by such dates, and paid all taxes,
penalties and interest with respect thereto.  To the extent that any tax
liabilities have accrued but not become payable, the full amounts thereof have
been reflected as liabilities or reserved against on the Balance Sheet.  After
the Closing, Seller shall duly prepare and timely file any and all local,
state and federal tax returns which pertain, in whole or in part, to the
period on or before the Closing, and pay all taxes, penalties and interest
with respect thereto.
M.   On the date hereof, the properties and assets to be transferred under
this Agreement are, and on the Closing they will be, in good condition and
repair.
N.   Seller shall permit Buyer and its representatives at all reasonable
times during business hours and without interfering with the normal conduct of
the business of Seller, to examine and have full access to all of the
properties, books and records of Seller and to copy such books and records (at
Buyer's expense).

8.   Representations and Warranties of Buyer.  Buyer represents and warrants
to and covenants with Seller (which representations and warranties shall
survive the Closing) as follows:
A.   Buyer is a Corporation duly organized, validly existing and in good
standing under the laws of the State of Utah.
B.  Buyer has full power and authority to execute and deliver the Agreement
and to consummate the transactions contemplated hereby.  The execution,
delivery and consummation of this Agreement have been duly authorized and
approved by such directors of Buyer as required by, and in accordance with,
applicable laws and the instruments, agreements and documents controlling
Buyer's governance.
C.   As of the date hereof there is, and as of the Closing there will not be
litigation at law or in equity, no proceeding before any commission or other
administrative or regulatory authority, and no dispute, claim or controversy
pending, or to the knowledge of Buyer threatened, against or affecting the
right of Buyer to enter into and consummate the transactions contemplated by
this Agreement.
D.  Buyer has not employed any broker or finder or incurred any
liability for any brokerage fees, commissions, finder fees or similar fees or
expenses in connection with the transactions contemplated by this Agreement,
and no broker or finder has acted on Buyer's behalf.

9.   Indemnification.
A.   Seller indemnifies and holds harmless Buyer against any loss, damage or
expense (including, without limitation, taxes, penalties, interest and
reasonable attorney's fees) asserted against or suffered by Buyer arising out
of or resulting from (i) any breach of this Agreement by Seller; (ii) any
inaccuracy in the representations, warranties, and covenants made by Seller in
this Agreement, or in any certificate, schedule, exhibit or written instrument
delivered or to be delivered under this Agreement; and (iii) any liability,
obligation, demand, claim, action, or judgment, known or unknown, which may
already have arisen or which may hereafter arise, by reason of or in
connection with the operation of Seller's business prior to the Closing.
B.   (i) Buyer shall promptly notify Seller of any claim or demand which
Buyer determines has given or could give rise to a right of indemnification
under this Agreement.  Unless Seller give Buyer written notice that either
contests Buyer's right to indemnification for a claim or demand within thirty
(30) days of the date Buyer notifies them of such a claim or demand, Seller
shall be deemed to have acknowledged Buyer's right to indemnification for such
claim or demand pursuant to the provisions of this Agreement.
     (ii) If any claim or demand relates to a claim or demand asserted by a
third party against Buyer, Seller shall have the duty, at Seller's expense, to
defend any such claim or demand.  Buyer shall make available to Seller and
Seller's representatives all records and other materials reasonably required
by them for their use in contesting any such claim or demand.  Buyer shall
have the right, but not the obligation, to employ separate counsel, and to
participate with Seller in the defense of any such claim or demand, but the
fees and expenses of such separate counsel shall be paid by Buyer.  In not
event shall Buyer be obligated to defend any such claim or demand.

10.  Conditions Precedent to the Obligations of Buyer.  The obligations of
Buyer under this Agreement are subject to the following conditions precedent:
A.   The representations, warranties and covenants made by Seller herein to
Buyer shall be true and correct in all material respects on and as of the
Closing Date with the same effect as if such representations, warranties and
covenants had been made on and as of date of the Closing, and Seller shall
have performed and complied with all agreements, covenants and conditions on
their part required to be performed and complied with on or prior to the
Closing.
B.   The assets to be purchased by Buyer and the Business shall not have been
adversely affected in any material way (whether or not covered by insurance)
as a result of any fire, casualty, act of God or other force majeure or any
labor dispute or disturbances.

11.  Conditions Precedent to the Obligations of Seller.  The obligations of
Seller shall be subject to the condition precedent that all warranties,
representations, and covenants made by Buyer to Seller in this Agreement shall
be true and correct in all material respects on and as of the Closing with the
same effect as if such warranties, representations, and covenants had been
made on and as of the date of the Closing, and Buyer shall have performed or
complied with all agreements, covenants and conditions on its part required to
be performed or complied with on or prior to the Closing.

12.  Covenants of Seller.  Seller covenants with Buyer as follows:
     During the two year period from and after the Closing, Seller shall not
directly or indirectly,  or as a partner, shareholder, employee, manager or
otherwise, own, manage, operate, control, be employed by, participate in, or
otherwise be connected with any other business the same as or similar to the
Business.  In the event any of the provisions of this Section shall be
determined to be invalid by reason of their scope or duration, this Section
shall be deemed modified to such extent as required to cure the invalidity.
In the event of a breach, or a threatened breach, of this covenant, Buyer
shall be entitled to obtain an injunction restraining the commencement or
continuance or the breach, as well as to any other legal or equitable remedies
permitted by law.

13. Consulting Agreement.  N/A

14.  Notices.
Any notice under this Agreement shall be effectively given upon deposit in the
United States mail, postage prepaid, or by recognized overnight delivery
service, and addressed as follows (or at such change of address given by one
party to the other in writing after the date hereof):
If to Buyer:  CraftClick.com, Inc., 432 Culver Blvd., Playa Del Rey, CA 90293

If to Seller:  Jim Valentine
5121 West 85th Street
Tulsa, OK 74131

15.  Final Agreement.
This Agreement represents the full agreement between the parties and
supersedes any and all prior negotiations and understandings between them.
This Agreement may not be modified or amended except by a written instrument
executed by all of the parties.

15.  Governing Law.
This Agreement shall be governed by and construed according to the laws of the
State of Utah.

16.  Force Majeure.
Nonperformance of either party shall be excused to the extent that performance
is rendered impossible by strike, fire, flood, governmental acts, orders or
restrictions, or any other reason where failure to perform is beyond the
control and not caused by the negligence of the non-conforming party.

17.  No Assignment.
The parties agree that neither party may assign or transfer any rights and
obligations under this Agreement, directly or indirectly except upon the prior
written consent of the other party.  Subject to the foregoing, this Agreement
shall be binding upon and inure to the benefit of the parties hereto, their
successors and assigns.

18.  Severability.
If any provision of this Agreement is held to be invalid by a court of
competent jurisdiction, then the remaining provisions shall nevertheless
remain in full force and effect.

19.  Counterparts.
This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original.

20.  Headings.
Headings used in this Agreement are provided for convenience only and shall
not be used to construe meaning or intent.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the day and year first above written.

CraftClick.com, Inc.

By: /s/Peter A. Yollin                /s/Jim Valentine
Peter A. Yollin                       Jim Valentine, Partner
Chief Executive Officer

                                      /s/Jeanie Valentine
                                      Jeanie Valentine, Partner
<PAGE>
EXHIBIT A
Seller's Assets and Liabilities

Financial (approximate values as of 2-4-00):

Cash                     $ 1,375.36

Inventory                $40,133.07

Fixed Assets             $19,902.21

Other Assets             $ 3,750.00

Accounts payable         $ 9,657.21

Bank line of credit      $ 4,271.04

Others:

All software relating to the Business, including but not limited to operating
and application software.

All domain names registered to the Business, including but not limited to
gostitch.com.

All e-mail lists and registered member information (approximately 8850 e-mail
addresses).

Complete access including passwords to the Business web site.

Any information that is stored in the databases of the Business.
<PAGE>
EXHIBIT B

Interwest Transfer Co.
1981 East Murray-Holladay Rd.
P. O. Box 17136
Salt Lake City, Utah  84117

Craftclick.com, Inc.
432 Culver Blvd.
Playa Del Rey, California 90393

Re:  Sale of assets of Stitches To Go ("STG") in exchange for shares of
Craftclick.com, Inc., a Utah corporation ("Craftclick or "the Company")

Dear Ladies and Gentlemen:

Pursuant to that certain Asset Purchase Agreement (the "Agreement") between
the undersigned I acknowledge that I have approved this sale and exchange;
that I am aware of all of the terms and conditions of the Agreement; that I
have received and personally reviewed a copy of any and all material documents
regarding the Company, including, but not limited to Articles of
Incorporation, Bylaws, minutes of meetings of directors and stockholders,
financial statements and the Company's Annual and Quarterly and Current
Reports filed with the Securities and Exchange Commission for the past twelve
months which can be reviewed in the Edgar Archives at www.sec.gov.  I
represent and warrant that no director or officer of the Company or any
associate of either has solicited this exchange; that I am an "accredited
investor" as that term is known under the Rules and Regulations of the
Securities and Exchange Commission; and/or, I represent and warrant that I
have sufficient knowledge and experience to understand the nature of the
exchange and am fully capable of bearing the economic risk of the loss of my
entire cost basis.  I hereby compromise and waive any claims I have or may
have against STG under any federal or state securities laws, rules or
regulations or otherwise, or for any other reason whatsoever.

I understand that you have and will make books and records of your Company
available to me for my inspection in connection with the contemplated exchange
of my shares, and that I have been encouraged to review the information and
ask any questions I may have concerning the information of any director or
officer of the Company or of the legal and accounting firms for the Company.
I understand that the accounting firm for Craftclick is Mantyla, McReynolds &
Assoc., 5872 South 900 East, #250, Salt Lake City, Utah 84121; Telephone:
(801) 269-1818; and that legal counsel for Craftclick is Leonard W.
Burningham, Esq., 455 East 5th South, Suite 205, Salt Lake City, Utah 84111,
Telephone #801-363-7411.

I also understand that I must bear the economic risk of ownership of any of
the Craftclick shares for a long period of time, the minimum of which will be
one (1) year, as these shares are "unregistered" shares and may not be sold
unless any subsequent offer or sale is registered with the United States
Securities and Exchange Commission or otherwise exempt from the registration
requirements of the Securities Act of 1933, as amended (the "Act"), or other
applicable laws, rules and regulations.

I intend that you rely on all of my representations made herein and those in
the personal questionnaire (if applicable) I provided for use by Craftclick as
they are made to induce you to issue me the shares of Craftclick under the
Agreement, and I further represent (of my personal knowledge or by virtue of
my reliance on one or more personal representatives), and agree as follows,
to-wit:

1.   That the shares being acquired are being received for investment
purposes and not with a view toward further distribution;

2.   That I have a full and complete understanding of the phrase "for
investment purposes and not with a view toward further distribution";

3.   That I understand the meaning of "unregistered shares" and know that
they are not freely tradeable;

4.   That any stock certificate issued by you to me in connection with the
shares being acquired shall be imprinted with a legend restricting the sale,
assignment, hypothecation or other disposition unless it can be made in
accordance with applicable laws, rules and regulations;

5.   I agree that the stock transfer records of your Company shall reflect
that I have requested the Company not to effect any transfer of any stock
certificate representing any of the shares being acquired unless I shall first
have obtained an opinion of legal counsel to the effect that the shares may be
sold in accordance with applicable laws, rules and regulations, and I
understand that any opinion must be from legal counsel satisfactory to the
Company and, regardless of any opinion, I understand that the exemption
covered by any opinion must in fact be applicable to the shares;

6.   That I shall not sell, offer to sell, transfer, assign, hypothecate or
make any other disposition of any interest in the shares being acquired except
as may be pursuant to any applicable laws, rules and regulations;

7.   I fully understand that my shares which are being exchanged for shares
of the Company are "risk capital," and I am fully capable of bearing the
economic risks attendant to this investment, without qualification; and

8.   I also understand that without approval of counsel for Craftclick, all
shares of Craftclick to be issued and delivered to me shall be represented by
one stock certificate only and which such stock certificate shall be imprinted
with the following legend or a reasonable facsimile thereof on the front and
reverse sides thereof:

The shares of stock represented by this certificate have not been registered
under the Securities Act of 1933, as amended, and may not be sold or otherwise
transferred unless compliance with the registration provisions of such Act has
been made or unless availability of an exemption from such registration
provisions has been established, or unless sold pursuant to Rule 144 under the
Act.

Any request for more than one stock certificate must be accompanied by a
letter signed by the requesting stockholder setting forth all relevant facts
relating to the request.  Craftclick will attempt to accommodate any
stockholders' request where Craftclick views the request is made for valid
business or personal reasons so long as in the sole discretion of Craftclick,
the granting of the request will not facilitate a "public" distribution of
unregistered shares of common voting stock of Craftclick.

You are requested and instructed to issue a stock certificate as follows,
to-wit:

Jean J. Valentine      175,000
(Name(s) and Number of Shares)

5121 West 85th Street
(Address)

Tulsa, OK 74131
(City, State and Zip Code)

If joint tenancy with full rights of survivorship is desired, put the initials
JTRS after your names.

Dated this ________ day of _______________________, 2000.

Very truly yours,

/s/Peter D. Yollin
<PAGE>
You are requested and instructed to issue a stock certificate as follows,
to-wit:

James V. Valentine      175,000
(Name(s) and Number of Shares)

5121 West 85th Street
(Address)

Tulsa, OK 74131
(City, State and Zip Code)

If joint tenancy with full rights of survivorship is desired, put the initials
JTRS after your names.

Dated this ________ day of _______________________, 2000.

Very truly yours,

/s/Peter Yollin<PAGE>

                                                                  EXHIBIT 4.2

                                (Face of Note)

          THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE
          INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
          BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO
          ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY
          MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06
          OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT
          NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS
          GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
          TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
          TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT
          OF THE COMPANY.

          THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
          1933, AS AMENDED (THE `SECURITIES ACT').  THE HOLDER HEREOF, BY
          PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF THE ISSUER THAT
          THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED
          PRIOR TO THE DATE WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL
          ISSUE DATE AND THE LAST DATE ON WHICH THE ISSUER OR AN AFFILIATE OF
          THE ISSUER WAS THE OWNER OF THE SECURITY, IN EITHER CASE OTHER THAN
          (1) TO THE ISSUER, (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE
          PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (`RULE 144A'), TO A
          PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL
          BUYER WITHIN THE MEANING OF RULE 144A PURCHASING FOR ITS OWN ACCOUNT
          OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
          IS GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN
          RELIANCE ON RULE 144A (AS INDICATED BY THE BOX CHECKED BY THE
          TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS
          SECURITY), (3) IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH
          REGULATION S UNDER THE SECURITIES ACT (AS INDICATED BY THE BOX CHECKED
          BY THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF
          THIS SECURITY), AND, IF SUCH TRANSFER IS BEING EFFECTED BY CERTAIN
          TRANSFERORS SPECIFIED IN THE INDENTURE (AS DEFINED BELOW) PRIOR TO THE
          EXPIRATION OF THE APPLICABLE `DISTRIBUTION COMPLIANCE PERIOD' (WITHIN
          THE MEANING OF RULE 903(c)(3) OF REGULATION S UNDER THE SECURITIES
          ACT), A CERTIFICATE WHICH MAY BE OBTAINED FROM THE ISSUER OR THE
          TRUSTEE OR TRANSFER AGENT IS DELIVERED BY THE TRANSFEREE TO THE ISSUER
          AND THE TRUSTEE AND/OR TRANSFER AGENT, (4) TO AN INSTITUTION THAT IS
          AN `ACCREDITED INVESTOR' AS DEFINED IN RULE 501(a)(1), (2), (3)
<PAGE>

          OR (7) UNDER THE SECURITIES ACT (AS INDICATED BY THE BOX CHECKED BY
          THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS
          SECURITY) THAT IS ACQUIRING THIS SECURITY FOR INVESTMENT PURPOSES AND
          NOT FOR DISTRIBUTION, AND A CERTIFICATE IN THE FORM ATTACHED TO THIS
          SECURITY IS DELIVERED BY THE TRANSFEREE TO THE ISSUER AND THE TRUSTEE
          AND/OR TRANSFER AGENT, (5) PURSUANT TO AN EXEMPTION FROM REGISTRATION
          UNDER THE SECURITIES ACT PROVIDED BY RULE 144 (IF APPLICABLE) UNDER
          THE SECURITIES ACT, OR (6) PURSUANT TO AN EFFECTIVE REGISTRATION
          STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH
          ANY OTHER APPLICABLE SECURITIES LAWS. AN `INSTITUTIONAL ACCREDITED
          INVESTOR' HOLDING THIS SECURITY AGREES IT WILL FURNISH TO THE ISSUER
          AND THE TRUSTEE AND/OR TRANSFER AGENT SUCH CERTIFICATES AND OTHER
          INFORMATION AS THEY MAY REASONABLY REQUIRE TO CONFIRM THAT ANY
          TRANSFER BY IT OF THIS SECURITY COMPLIES WITH THE FOREGOING
          RESTRICTIONS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
          REPRESENTS AND AGREES FOR THE BENEFIT OF THE ISSUER THAT IT IS (1) A
          QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2)
          AN INSTITUTION THAT IS AN `ACCREDITED INVESTOR' AS DEFINED IN RULE
          501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT AND THAT IT IS
          HOLDING THIS SECURITY FOR INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION
          OR (3) A NON-U.S. PERSON OUTSIDE THE UNITED STATES WITHIN THE MEANING
          OF (OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF) RULE 902 UNDER
          REGULATION S UNDER THE SECURITIES ACT.
<PAGE>

                                                                CUSIP #29444UAB2

                           13% Senior Notes due 2007

No.                                                                      $

     This Note is issued with original issue discount for purposes of Section
1271 et seq. of the Internal Revenue Code.  For each $1,000 of principal amount
of this Security, the issue price is $949.35 and the amount of original issue
discount is $50.65.  The issue date of this Security is December 1, 1999 and the
yield to maturity is 14.074%.

                                 EQUINIX, INC.

promises to pay to Cede & Co., or registered assigns, the principal sum of
______________ Dollars on December 1, 2007.

                Interest Payment Dates:  December 1 and June 1.

                     Record Dates: November 15 and May 15.
<PAGE>

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

Dated:

                              EQUINIX, INC.

                              By: ___________________________________
                                  Name:
                                  Title:

                              By: ___________________________________
                                  Name:
                                  Title:

<PAGE>

                    Trustee's Certificate of Authentication
                    ---------------------------------------

This is one of the Notes referred to in the within-mentioned Indenture:

Dated:

STATE STREET BANK AND TRUST COMPANY OF CALIFORNIA, N.A., as Trustee

By:____________________________________
   Authorized Signatory
<PAGE>

                                (Back of Note)

                           13% Senior Notes due 2007

          Capitalized terms used herein shall have the meanings assigned to them
in the Indenture referred to below unless otherwise indicated.

          1.  INTEREST.  Equinix, Inc., a Delaware corporation (the "Company"),
              --------
promises to pay interest on the principal amount of this Note at 13% per annum
from December 1, 1999 until maturity and shall pay the Liquidated Damages
payable in accordance with the provisions of the following paragraph.  The
Company shall pay interest and Liquidated Damages semi-annually on December 1
and June 1 of each year, or if any such day is not a Business Day, on the next
succeeding Business Day (each an "Interest Payment Date").  Interest on the
Notes shall accrue from the most recent date to which interest has been paid or,
if no interest has been paid, from the date of issuance; provided that if there
is no existing Default or Event of Default relating to the payment of interest,
and if this Note is authenticated between a Record Date referred to on the face
hereof and the next succeeding Interest Payment Date, interest shall accrue from
such next succeeding Interest Payment Date; provided, further, that the first
Interest Payment Date shall be June 1, 2000.  The Company shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on
overdue principal and premium, if any, from time to time on demand at a rate
that is 1.0% per annum in excess of the rate then in effect; it shall pay
interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest and Liquidated Damages
(without regard to any applicable grace periods) from time to time on demand at
the same rate to the extent lawful.  Interest shall be computed on the basis of
a 360-day year of twelve 30-day months.

          The Holder of this Note is entitled to the benefits of the
Registration Rights Agreement.  If (a) the Company fails to file any of the
Registration Statements required by the Registration Rights Agreement on or
before the date specified for such filing, (b) any of such Registration
Statements is not declared effective by the Commission on or prior to the date
specified for such effectiveness, (c) the Company fails to consummate the
Registered Exchange Offer within 210 days of the Issue Date with respect to the
Exchange Offer Registration Statement, or (d) any Registration Statement
required by the Registration Rights Agreement is declared effective but
thereafter ceases to be effective or usable in connection with its intended
purpose (each such event referred to in clauses (a) through (d) above a
"Registration Default"), then the Company shall pay to each holder of Transfer
Restricted Notes (as defined in the Registration Rights Agreement) affected
thereby liquidated damages ("Liquidated Damages") which shall accrue and be
payable semi-annually on the Notes and the Exchange Notes (in addition to the
stated interest on the Notes and the Exchange Notes) from and including the date
such Registration Default occurs to, but excluding the date on which the
applicable Registration Statement is filed or is declared effective, the
Registered Exchange Offer is consummated, or the applicable Registration
Statement is again declared effective or made usable.  During the time that
Liquidated Damages is accruing continuously, the rate of such Liquidated Damages
shall be 0.50% per annum during the first 90-day period and shall increase by
0.25% per annum for each subsequent 90-day period, but in no event shall such
rate exceed 1.50% per annum in the aggregate regardless of the number of
Registration Defaults.  If, after the cure of all Registration
<PAGE>

Defaults then in effect, there is a subsequent Registration Default, the rate of
Liquidated Damages for such subsequent Registration Default shall initially be
0.50%, regardless of the Liquidated Damages rate in effect with respect to any
prior Registration Default at the time of the cure of such Registration Default.

          2.  METHOD OF PAYMENT.  The Company shall pay interest on the Notes
              -----------------
(except defaulted interest) and Liquidated Damages to the Persons who are
registered Holders at the close of business on May 15 or November 15 next
preceding the Interest Payment Date, even if such Notes are canceled after such
Record Date and on or before such Interest Payment Date, except as provided in
Section 2.12 of the Indenture with respect to defaulted interest. The Notes
shall be payable as to principal, premium and Liquidated Damages, if any, and
interest at the office or agency of the Company maintained for such purpose
within or outside of the City and State of New York, or, at the option of the
Company, payment of interest and Liquidated Damages may be made by check mailed
to the Holders at their addresses set forth in the register of Holders kept by
the Registrar, and provided that payment by wire transfer of immediately
available funds shall be required with respect to principal of and interest,
premium and Liquidated Damages on, all Global Notes and all other Notes the
Holders of which shall have provided wire transfer instructions to the Company
or the Paying Agent. Such payment shall be in such coin or currency of the
United States of America as at the time of payment is legal tender for payment
of public and private debts.

          3.  PAYING AGENT AND REGISTRAR.  Initially, State Street Bank and
              --------------------------
Trust Company of California, N.A., the Trustee under the Indenture, shall act as
Paying Agent and Registrar. The Company may change any Paying Agent or Registrar
without notice to any Holder. The Company or any of its Restricted Subsidiaries
may act in any such capacity.

          4.  INDENTURE.  The Company issued the Notes under an Indenture dated
              ---------
as of December 1, 1999 ("Indenture") between the Company and the Trustee. The
terms of the Notes include those stated in the Indenture and those made part of
the Indenture by reference to the Trust Indenture Act of 1939, as amended (15
U.S. Code Sections 77aaa-77bbbb) (the "TIA"). The Notes are subject to all such
terms, and Holders are referred to the Indenture and the TIA for a statement of
such terms. To the extent any provision of this Note conflicts with the express
provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. The Notes are obligations of the Company limited to $200 million in
aggregate principal amount.

          5.  OPTIONAL REDEMPTION.
              -------------------

          (a) The Notes shall not be redeemable at the Company's option prior to
December 1, 2003.  Thereafter, the Notes shall be subject to redemption at any
time at the option of the Company, in whole or in part, upon not less than 30
nor more than 60 days' notice, at the redemption prices (expressed as
percentages of principal amount) set forth below, plus accrued and unpaid
interest thereon to the applicable redemption date (subject to the right of
Holders as of the relevant Record Date to receive interest due on the relevant
Interest Payment Date), if redeemed during the twelve-month period beginning on
December 1 of the years indicated below:
<PAGE>

          Year                                            Percentage
          ----                                            ----------
          2003........................................     106.500%
          2004........................................     103.250%
          2005 and thereafter.........................     100.000%

          (b) Any redemption pursuant to this Section 5 shall be made pursuant
to the provisions of Sections 3.01 through 3.06 of the Indenture.

          6.  MANDATORY REDEMPTION.  The Company shall not be required to make
              --------------------
mandatory redemption or sinking fund payments with respect to the Notes.

          7.  REPURCHASE AT OPTION OF HOLDER.
              ------------------------------

          (a) Upon the occurrence of a Change of Control, each Holder shall have
the right to require the Company to purchase all or any part (equal to $1,000 or
an integral multiple thereof) of such Holder's Notes pursuant to the offer
described below (the "Change of Control Offer") at a purchase price in cash
equal to 101% of the aggregate principal amount thereof (the "Change of Control
Payment"), plus accrued and unpaid interest (and Liquidated Damages, if any)
thereon to the date of purchase (subject to the right of Holders as of a Record
Date to receive interest due on the relevant Interest Payment Date); provided,
that, the Company shall not be obligated to repurchase Notes pursuant to a
Change of Control Offer in the event that it has exercised its rights to redeem
all of the Notes pursuant to the Indenture.  Within 30 days following any Change
of Control, the Company shall mail a notice to each Holder describing the
transaction or transactions that constitute the Change of Control and offering
to purchase Notes on the date specified in such notice, which date shall be no
earlier than 30 and no later than 60 days from the date such notice is mailed
(the "Change of Control Payment Date"), in accordance with the procedures
required by the Indenture and described in such notice.

          (b) The Company shall comply with the requirements of Rule 14e-1 under
the Exchange Act and any other securities laws and regulations to the extent
such laws and regulations are applicable in connection with the purchase of
Notes as a result of a Change of Control.  To the extent that the provisions of
any securities laws or regulations conflict with any of the provisions of this
covenant, the Company shall comply with the applicable securities laws and
regulations and will be deemed not to have breached its obligations under this
covenant by virtue thereof.

          (c) On the Change of Control Payment Date, the Company shall, to the
extent lawful, (1)  accept for payment all Notes or portions thereof properly
tendered pursuant to the Change of Control Offer, (2)  deposit with the Paying
Agent an amount equal to the Change of Control Payment plus accrued and unpaid
interest thereon and Liquidated Damages, if any, in respect of all Notes or
portions thereof so tendered and (3)  deliver or cause to be delivered to the
Trustee Notes so accepted together with an Officers' Certificate stating the
aggregate principal amount of Notes or portions thereof being purchased by the
Company.  The Paying Agent shall promptly mail or deliver to each Holder so
tendered the Change of Control Payment plus accrued and unpaid interest thereon
and Liquidated Damages, if any, for such Notes, and the Trustee
<PAGE>

shall promptly authenticate and mail or deliver (or cause to be transferred by
book entry) to each Holder a new Note equal in principal amount to any
unpurchased portion of Notes surrendered, if any; provided that each such new
Note will be in a principal amount of $1,000 or an integral multiple thereof.
The Company shall publicly announce the results of the Change of Control Offer
on or as soon as practicable after the Change of Control Payment Date.

          (d) The Company shall not, and shall not permit any of the Restricted
Subsidiaries to, directly or indirectly, consummate any Asset Sale, unless (i)
the Company (or such Restricted Subsidiary, as the case may be) receives
consideration at the time of such Asset Sale at least equal to the fair market
value (as determined in good faith by the Board of Directors (including as to
the value of all noncash consideration) and set forth in an Officers'
Certificate delivered to the Trustee) of the assets or Equity Interests issued
or sold or otherwise disposed of and (ii) at least 75% of the consideration
therefor is in the form of cash and/or Cash Equivalents or Qualified
Consideration, and (iii) the Net Cash Proceeds received by the Company (or such
Restricted Subsidiary, as the case may be) from such Asset Sale are applied
within 360 days following the receipt of such Net Cash Proceeds, to the extent
the Company (or such Restricted Subsidiary, as the case may be) elects, (a) to
the redemption or repurchase of outstanding Indebtedness (I) that is either (A)
secured Indebtedness or (B) Indebtedness of the Company that ranks equally with
the Notes but has a maturity date that is prior to the maturity date of the
Notes, in either case other than Subordinated Indebtedness or (II) that is
Indebtedness of a Restricted Subsidiary and/or (b) to reinvest such Net Cash
Proceeds (or any portion thereof) in properties or assets (including Equity
Interests of a person that will become a Restricted Subsidiary as a result of
such investment) that will be used in a Permitted Business.  The balance of such
Net Cash Proceeds, after the application of such Net Cash Proceeds as described
in the immediately preceding clauses (a) and (b), shall constitute "Excess
Proceeds."

          (e) When the aggregate amount of Excess Proceeds equals or exceeds $10
million (taking into account income earned on such Excess Proceeds), the Company
shall be required to make a pro rata offer to all Holders and pari passu
Indebtedness with comparable provisions requiring such Indebtedness to be
purchased with the proceeds of such Asset Sale (an "Asset Sale Offer") to
purchase the maximum principal amount or accreted value in the case of
Indebtedness issued with an original issue discount of Notes and pari passu
Indebtedness that may be purchased out of the Excess Proceeds, at a purchase
price in cash in an amount equal to 100% of the principal amount thereof or the
accreted value thereof, as applicable, plus accrued and unpaid interest thereon
to the date of purchase (subject to the right of Holders of record on the
relevant Record Date to receive interest due on the relevant Interest Payment
Date), in accordance with the procedures set forth in Article 3 of the Indenture
and the agreements governing such pari passu Indebtedness.  To the extent that
any Excess Proceeds remain after consummation of an Asset Sale Offer, the
Company may use such Excess Proceeds for any purpose not otherwise prohibited by
the Indenture.  If the aggregate principal amount of Notes and pari passu
Indebtedness tendered into such Asset Sale Offer surrendered by Holders thereof
exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and
pari passu Indebtedness to be purchased on a pro rata basis in proportion to the
respective principal amounts (or accreted values in the case of Indebtedness
issued with an original issue discount) of the Notes and such other
Indebtedness.  Upon completion of such Asset Sale Offer, the amount of Excess
Proceeds shall be reset at zero for purposes of the first sentence of this
paragraph.
<PAGE>

          8.  NOTICE OF REDEMPTION.  Notice of redemption shall be mailed at
              --------------------
least 30 days but not more than 60 days before the redemption date to each
Holder whose Notes are to be redeemed at its registered address.  Notes in
denominations larger than $1,000 may be redeemed in part but only in whole
multiples of $1,000, unless all of the Notes held by a Holder are to be
redeemed.  On and after the redemption date interest shall cease to accrue on
Notes or portions thereof called for redemption.

          9.  DENOMINATIONS, TRANSFER, EXCHANGE.  The Notes are in registered
              ---------------------------------
form without coupons in denominations of $1,000 and integral multiples of
$1,000.  The transfer of Notes may be registered and Notes may be exchanged as
provided in the Indenture.  The Registrar and the Trustee may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents
and the Company may require a Holder to pay any taxes and fees required by law
or permitted by the Indenture.  The Company need not exchange or register the
transfer of any Note or portion of a Note selected for redemption, except for
the unredeemed portion of any Note being redeemed in part.  Also, the Company
need not exchange or register the transfer of any Notes for a period of 15 days
before a selection of Notes to be redeemed or during the period between a Record
Date and the corresponding Interest Payment Date.

          10. PERSONS DEEMED OWNERS.  The registered Holder of a Note on the
              ---------------------
Registrar's books may be treated as its owner for all purposes under the
Indenture.

          11. AMENDMENT, SUPPLEMENT AND WAIVER.  Subject to certain exceptions,
              --------------------------------
the Indenture and the Notes may be amended or supplemented with the consent of
the Holders of at least a majority in aggregate principal amount of the then
outstanding Notes, and any existing default or compliance with any provision of
the Indenture or the Note may be waived with the consent of the Holders of a
majority in aggregate principal amount of the then outstanding Notes.  Without
the consent of any Holder of a Note, the Indenture or the Notes may be amended
or supplemented among other things, to cure any ambiguity, defect or
inconsistency, to provide for uncertificated Notes in addition to or in place of
certificated Notes, to provide for the assumption of the Company's obligations
to Holders of the Notes in case of a merger or consolidation or sale of all or
substantially all of the Company's assets in accordance with the terms of the
Indenture, to make any change that would provide any additional rights or
benefits to the Holders of the Notes or that does not adversely affect the legal
rights under the Indenture of any such Holder, or to comply with the
requirements of the Commission in order to effect or maintain the qualification
of the Indenture under the TIA.

          12. DEFAULTS AND REMEDIES.
              ---------------------

          (a) Events of Default under the Indenture include:  (i) the failure to
pay interest on, including Liquidated Damages, if any, with respect to, the
Notes, when the same becomes due and payable if such default continues for a
period of 30 days, (ii) the failure to pay principal of any Notes when such
principal becomes due and payable, at maturity, upon redemption or otherwise;
(iii) failure by the Company or any Restricted Subsidiary to comply with
Sections 4.10 or 4.14 of the Indenture; (iv) failure by the Company or any
Restricted Subsidiary for 60 days after notice to comply with any of its other
agreements in the Indenture, the Escrow Agreement or this Note; (v) default
under any mortgage, indenture or instrument
<PAGE>

under which there may be issued or by which there may be secured or evidenced
any Indebtedness by the Company or any of the Restricted Subsidiaries (or the
payment of which is Guaranteed by the Company or any of the Restricted
Subsidiaries) whether such Indebtedness or Guarantee now exists, or is created
after the Issue Date, and either such Indebtedness is already due and payable or
such default results in the acceleration of such Indebtedness prior to its
express maturity and, in each case, the amount of any such Indebtedness,
together with the amount of any other such Indebtedness or the maturity of which
has been so accelerated, aggregates $10.0 million or more; (vi) failure by the
Company or any of the Restricted Subsidiaries to pay final judgments not subject
to appeal aggregating in excess of $10.0 million; (vii) one or more judgments,
orders or decrees for the payment of money in excess of $10.0 million,
individually or in the aggregate (net of applicable insurance coverage which is
acknowledged in writing by the insurer), shall be entered against the Company or
any Restricted Subsidiary or any of their respective properties and shall not be
discharged and there shall have been a period of 60 days or more during which a
stay of enforcement of such judgment or order, by reason of pending appeal or
otherwise, shall not be in effect; (viii) the Company shall assert or
acknowledge in writing that the Escrow Agreement is invalid or unenforceable; or
(ix) certain events of bankruptcy or insolvency with respect to the Company or
any of its Significant Subsidiaries.

          (b) If any Event of Default occurs and is continuing, the Trustee or
the Holders of at least 25% in principal amount of the then outstanding Notes
may declare all principal of, premium (if any) on and interest on the Notes to
be due and payable immediately.  Notwithstanding the foregoing, in the case of
an Event of Default arising from certain events of bankruptcy or insolvency with
respect to the Company or a Significant Subsidiary, all outstanding Notes will
become due and payable without further action or notice.

          (c) Holders may not directly enforce the Indenture or the Notes except
as provided in the Indenture.  Subject to certain limitations, Holders of a
majority in principal amount of the then outstanding Notes may direct the
Trustee in its exercise of any trust or power.

          (d) The Holders of a majority in aggregate principal amount of the
then outstanding Notes by notice to the Trustee may on behalf of all the Holders
waive any existing Default or Event of Default and its consequences under the
Indenture, except a continuing Default or Event of Default in the payment of
principal of, premium, if any, or interest on the Notes.

          (e) The Company shall be required to deliver to the Trustee annually a
statement regarding compliance with the Indenture, and the Company shall be
required upon becoming aware of any Default or Event of Default to deliver to
the Trustee a statement specifying such Default or Event of Default.  The
Trustee may withhold from Holders notice of any continuing Default or Event of
Default (except a Default or Event of Default relating to the payment of
principal of, premium, if any, or interest on, the Notes) if it determines that
withholding notice is in their interest.

          13. TRUSTEE DEALINGS WITH COMPANY.  The Trustee, in its individual or
              -----------------------------
any other capacity, may make loans to, accept deposits from, and perform
services for the
<PAGE>

Company or its Affiliates, and may otherwise deal with the Company or its
Affiliates, as if it were not the Trustee.

          14. NO RECOURSE AGAINST OTHERS.  No director, officer, employee,
              --------------------------
incorporator or stockholder of the Company, as such, will have any liability for
any obligations of the Company with respect to the Notes or the Indenture, or
for any claim based on, or in respect or by reason of, such obligations or their
creation.  Each Holder of Notes by accepting a Note will waive and release any
and all such liability.  Such waiver and release are part of the consideration
for issuance of the Notes.  Such waiver may not be effective to waive
liabilities under federal securities laws and it is the view of the Commission
that such a waiver is against public policy.

          15. AUTHENTICATION.  This Note shall not be valid until authenticated
              --------------
by the manual signature of the Trustee or an authenticating agent.

          16. ABBREVIATIONS.  Customary abbreviations may be used in the name
              -------------
of a Holder or an assignee, such as:  TEN COM (= tenants in common), TEN ENT (=
tenants by the entirety), JT TEN (= joint tenants with right of survivorship and
not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to
Minors Act).

          17. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND
              -----------------------------------------------------------
RESTRICTED DEFINITIVE NOTES.  In addition to the rights provided to Holders
---------------------------
under the Indenture, Holders shall have all the rights set forth in the
Registration Rights Agreement.

          18. CUSIP NUMBERS.  Pursuant to a recommendation promulgated by the
              -------------
Committee on Uniform Security Identification Procedures, the Company has caused
CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers
in notices of redemption as a convenience to Holders.  No representation is made
as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

          The Company shall furnish to any Holder upon written request and
without charge a copy of the Indenture and/or the Registration Rights Agreement.
Requests may be made to:

          Equinix, Inc.
          901 Marshall Street
          Redwood City, CA  94063
          Attention: Chief Financial Officer
<PAGE>

                                ASSIGNMENT FORM

To assign this Note, fill in the form below: (I) or (we) assign and transfer
this Note to

_______________________________________________________________________________
                 (Insert assignee's soc. sec. or tax I.D. no.)

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________
(Print or type assignee's name, address and zip code)

and irrevocably appoint _______________________________________________________
to transfer this Note on the books of the Company.  The agent may substitute
another to act for him.

Date:_______________     Your Signature:_______________________________________
                         (Sign exactly as your name appears on the face of this
                         Note)

                         Tax Identification No.:_______________________________

                         SIGNATURE GUARANTEE:

                         ______________________________________________________

                         Signatures must be guaranteed by an "eligible guarantor
                         institution" meeting the requirements of the Registrar,
                         which requirements include membership or participation
                         in the Security Transfer Agent Medallion Program
                         ("STAMP") or such other "signature guarantee program"
                         as may be determined by the Registrar in addition to,
                         or in substitution for, STAMP, all in accordance with
                         the Securities Exchange Act of 1934, as amended.
<PAGE>

                      OPTION OF HOLDER TO ELECT PURCHASE

If you want to elect to have this Note purchased by the Company pursuant to
Section 4.10 or 4.14 of the Indenture, check the box below:

        Section 4.10                       Section 4.14

If you want to elect to have only part of the Note purchased by the Company
pursuant to Section 4.10 or Section 4.14 of the Indenture, state the amount you
elect to have purchased: $_________

Date:_______________     Your Signature:
                         (Sign exactly as your name appears on the face of this
                         Note)

                         Tax Identification No.:_______________________________

                         SIGNATURE GUARANTEE:

                         ______________________________________________________

                         Signatures must be guaranteed by an "eligible guarantor
                         institution" meeting the requirements of the Registrar,
                         which requirements include membership or participation
                         in the Security Transfer Agent Medallion Program
                         ("STAMP") or such other "signature guarantee program"
                         as may be determined by the Registrar in addition to,
                         or in substitution for, STAMP, all in accordance with
                         the Securities Exchange Act of 1934, as amended.
<PAGE>

             SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

The following exchanges of a part of this Global Note for an interest in another
Global Note or for a Definitive Note, or exchanges of a part of another Global
Note or Definitive Note for an interest in this Global Note, have been made:

<TABLE>
<CAPTION>
                                                              Principal Amount of
                   Amount of decrease    Amount of increase   this Global Note
                   in Principal Amount   in Principal Amount  following such
Date of Exchange   of this Global Note   of this Global Note  decrease (or increase)
----------------   -------------------   -------------------  ----------------------
<S>                <C>                   <C>                  <C>
</TABLE>

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