Document:

AGREEMENT

         THIS AGREEMENT ("Agreement") is entered into as of November 1, 1999,
between IMAGING TECHNOLOGY SOLUTIONS, L.L.C. (d/b/a NetEx) ("NetEx") and the
POSTAL BUSINESS CENTER NETWORK, INC. ("pbcnetwork.com) (the "PBC Network").

                                    RECITALS

A. NetEx is engaged in the business of providing a secured Internet document
delivery service (the "Program").

B. The PBC Network, on behalf of its present and future member stores, wishes to
provide for the exclusive use of the Program in the Western Hemisphere by such
members.

         NOW, THEREFORE, in consideration of the foregoing, of the mutual
promises hereinafter set forth of other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
intending to be legally bound, hereby agree as follows:

1. GRANT.
---------

NetEx shall provide, exclusively, the Program to present and future postal store
members of the PBC Network located in the Western Hemisphere during the term of
this Agreement. "Postal store members" shall mean retail, mail, parcel and
shipping centers, and is hereinafter collectively referred to as "Member" or
"Members."

2. TERM.
--------

The initial term of this Agreement shall be for a period of ten (10) years
commencing on November 1, 1999 and ending on November 1, 2009. Thereafter, this
Agreement shall automatically renew for successive five-year periods, unless
either party notifies the other of desired contract modifications no later than
six (6) months prior to the end of the then-current term. Upon such
notification, the parties shall agree to modify terms within three (3) months or
else this Agreement will terminate at the end of the then-current term.

3. PROMOTIONS.
--------------

The PBC Network and its parent corporation, Universal Express, Inc. ("USXP"),
will use their best efforts to promote the Program with its Members,
exclusively, and with subsidiaries and business affiliates of USXP
("Affiliates"), including without limitation, the members of the SkyNet
International Courier Network (USXP, the PBC Network, Members and Affiliates
hereinafter sometimes collectively referred to as "Customers"). USXP and the PBC
Network shall not promote or offer to its Members and Affiliates any other
product or service in competition with the Program.

<PAGE>

4. PRICING AND CONSIDERATION.
-----------------------------

a)   USXP and the PBC Network will use their best efforts to raise from present
     and future investment sources available to them and make available to
     NetEx, depending upon the roll-out schedule for the Program to the Members
     as determined by USXP and PBC Network, a total amount over a 24 month
     period of $1,700,000.00 (specific payment terms are attached hereto as
     Exhibit A).

b)   Amount. Each Member receiving the Program will pay to NetEx additional
     charges based upon the monthly volume of use of the Program by such member
     ("Monthly Charges") as set forth on the pricing model attached hereto as
     Exhibit B.

c)   Invoices. NetEx shall invoice Customers on a monthly basis. All invoices
     remaining unpaid after ninety (90) days shall accrue interest at the rate
     of eighteen (18%) percent per annum

5. TRADEMARKS.
--------------

The Customers may display NetEx's trademarks to identify, promote and market the
Program on their business cards, stationery and other promotional materials
indicating that the party is an authorized dealer of the Program. No other use
of NetEx's trademarks is authorized, without NetEx's prior written consent.

6. USER SUPPORT.
----------------

NetEx will provide customer dealer support for the Program to all authorized
customers for so long as this Agreement is in force.

7. COPYRIGHT RESTRICTIONS.
--------------------------

This Agreement shall not be construed to grant any right, title, or interest in
any intellectual property rights embodied in or associated with the Program.
Unauthorized copying of the Program, including modifications of the Program or
the creation of programs in which the Program has been merged or included with
other data products, for distribution to third parties, whether gratuitously or
for sale, is expressly forbidden.

8. PATENT AND COPYRIGHT ACTIONS AND INDEMNIFICATION.
----------------------------------------------------

         a) Obligation to Defend. NetEx will, at NetEx's expense, defend any
         action brought against a Customer, as defined in Section 3, that is
         based on a claim of U.S. copyright or patent infringement by the
         Program used within the scope of the license granted under this
         Agreement. The Customer must promptly inform NetEx, in writing, of any
         claim and allow NetEx to control the defense of such action and agree
         to any settlement of claims.

                                       2

<PAGE>

         b) Liability. NetEx will pay all damages and costs awarded, or that
         result from NetEx's settlement of claims, in any such action.

         c) Right to Replace or Alter. If the Program, in NetEx's opinion, is
         likely to be the subject of a copyright or patent infringement claim,
         NetEx may:

               i. obtain the right to continue using the Program; or

               ii. replace or alter the Program to make it non-infringing,
                  provided that the new Program is equal to or better than the
                  existing Program.

9. LIMITATION OF LIABILITY.
---------------------------

         a) Amount. NetEx's liability for damages with respect to this Agreement
         and the license provided, except for liability for patent or copyright
         infringement, will not exceed the lesser of the subject Customer's
         actual damage or $100 (or equivalent in local currency).

               b) Type. NetEx in no event will be liable for:

               i) lost profits or for other special, indirect, incidental or
                  consequential damages;

               ii) acts or omissions of a Customer, including but not limited to
                  improper or insufficient addressing or instructions for proper
                  transmission or delivery;

               iii) a Customer or recipient violating any of the terms of this
                  Agreement; or

               iv) for loss, damage or delay caused by an event beyond NetEx's
                  control, including but not limited to acts of God, weather
                  conditions, acts of public enemies, war, strikes, civil
                  commotion, or acts of public authorities with actual or
                  apparent authority.

10. FORCE MAJEURE AND EXCUSABLE DELAYS.
---------------------------------------

a) Neither party shall be liable for any costs or damages attributable to
non-performance arising out of any event of force majeure, which shall consists
of any cause not within its reasonable control or not reasonably foreseeable and
not due to its fault or negligence.

b) Each party shall give the other party prompt notice of the occurrence of any
event of force majeure that is expected to cause delay hereunder, and the date
of performance by any such party shall be extended for a period not exceeding
the period of delay caused by the event of force majeure identified in such
notice.

                                       3

<PAGE>

c) Unless the performance by either party of its obligations under this
Agreement is delayed by the occurrence of an event of force majeure for a period
of more than one (1) month (and such delay is excused under the foregoing
provisions), no event of force majeure shall excuse permanent nonperformance,
but shall excuse only delays in performance and only to the extent that such
delays are directly attributable to such cause.

d) Neither party shall be liable for any delay or failure in the performance of
its obligations under this Agreement that directly results from any failure of
the other party to perform its obligations as set forth in this Agreement.

11. EARLY TERMINATION OF AGREEMENT
----------------------------------

This Agreement may be terminated by a party when the other party does or fails
to do any of the following:

         a) FAILURE TO PAY. Fails to pay amounts due hereunder within 60 days
            after notice that same is due.

         b) BANKRUPTCY. Is adjudicated as a bankrupt.

         c) INSOLVENCY. Insolvency, the appointment of a receiver, the making of
            an assignment for the benefit of creditors or entering into a
            composition with a creditor.

         d) ASSIGNMENT. Assigns or transfers this Agreement, except as provided
            herein.

         e) BREACH OF THE CONDITIONS OF AGREEMENT. The breach of any of the
            other material terms and conditions of this Agreement and fails to
            cure such breach within sixty (60) days after such breach.

12. CUSTOMER'S REMEDIES.
------------------------

Customer's remedies, as provided in this Agreement, are exclusive.

13. Notices.
------------

All notices hereunder shall be in writing and shall be deemed to have been duly
given when sent by certified mail, return receipt requested or by private
overnight mail service providing evidence of delivery (e.g. Federal Express) to
the following addresses until such time as a party hereto shall give the other
parties hereto not less than ten (10) days' prior written notice of a change of
address in accordance with the provisions hereof:

                                       4

<PAGE>

         If to NetEx:            Mr. Greg Meffert, President
                                 Imaging Technology Solutions, LLC
                                 1340 Poydras Street
                                 Suite 600
                                 New Orleans, LA 70112

         With copy to:           E. Howell Crosby, Esq.
                                 Chaffe, McCall, Phillips, Toler & Sarpy, L.L.P.
                                 2300 Energy Centre, 1100 Poydras Street
                                 New Orleans, LA 70163-2300

         If to the PBC Network:  Mr. Richard A. Altomare, Chairman
                                 Postal Business Center Network, Inc.
                                 20 South Terminal Drive
                                 Plainview, NY 11803

         If to USXP:             Mr. Richard A. Altomare, President & CEO
                                 Universal Express, Inc.
                                 20 South Terminal Drive
                                 Plainview, NY 11803

14. DISPUTE RESOLUTION.
-----------------------

The parties hereto shall use all reasonable efforts to amicably resolve all
disputes arising under this Agreement. If despite such efforts any matter cannot
be amicably resolved, the matter shall be referred to the Presidents of NetEx
and USXP and the Chairman of the PBC Network, who shall promptly meet for the
purpose of resolving such dispute.

15. CONFIDENTIALITY.
--------------------

The parties hereto will hold and will use its best efforts to cause its
officers, directors, employees and other agents (collectively, its "Agents") to
hold, in confidence, all confidential documents and information concerning the
other parties hereto furnished to such party in connection with this Agreement,
except to the extent that such information can be shown to have been (a)
previously known by such on a non-confidential basis, (b) in the public domain
through no fault of such party or (c) later lawfully acquired by such party on a
non-confidential basis from a source other than the parties hereto; provided
that the parties may disclose such information in connection with this Agreement
to their Agents so long as such persons are informed by the parties of the
confidential nature of such information and are directed by the parties to keep
such information confidential and not use it for any purpose other than its
intended use. Notwithstanding the foregoing, the parties hereto may disclose
such information if (i) compelled to disclose by judicial or administrative

                                       5

<PAGE>

process or by other requirements of law or (ii) necessary to establish such
party's position in any litigation or any arbitration or other proceeding based
upon or in connection with the subject matter of this Agreement. Prior to any
disclosure pursuant to the preceding sentence, a party shall give reasonable
prior notice to the other party of such intended disclosure, and if requested by
the notified party, the disclosing party shall use all reasonable efforts to
obtain a protective order or similar protection for such information and shall
other disclose only such information as is legally required. If the Agreement is
terminated, the parties hereto will use their best efforts to cause its Agents
to, destroy or deliver to the other party, upon request, all documents and other
materials, and all copies thereof, containing confidential information obtained
from such party in connection with the Agreement.

16. MISCELLANEOUS.
------------------

a) The parties hereto are independent contractors. Nothing contained in this
Agreement is intended or shall be deemed to constitute a partnership, joint
venture, franchise, or agency relationship between the parties hereto. Neither
party shall incur any debts or make any commitments upon the other, except to
the extent specifically provided herein.

b) Each party represents and warrants that it has full power and authority to
undertake the obligations set forth in this Agreement and that it has not
entered into any other agreements nor will it enter into any agreements that
would render it incapable of satisfactorily performing its obligations
hereunder.

c) Each party agrees that it will comply with all applicable laws and
regulations of governmental bodies or agencies in its performance under this
Agreement.

d) All questions concerning the validity, operation, interpretation, and
construction of this Agreement will be governed by and determined in accordance
with the laws of New York.

e) Each party hereto shall bear its own expenses in the negotiation and
execution of this Agreement.

f) Neither party shall by mere lapse of time, without giving notice or taking
other action hereunder, be deemed to have waived any breach by the other party
of any of the provisions of this Agreement. Further, the waiver by either party
of a particular breach of this Agreement by the other shall not be construed as
or constitute a continuing waiver of such breach or of other breaches of the
same or other provisions of this Agreement.

g) The captions in this Agreement are for reference purposes only and shall not
in any way affect the meaning or interpretation of this Agreement.

                                       6

<PAGE>

h) The parties hereto acknowledge that this Agreement is the complete and
exclusive statement of agreement respecting the subject matter hereto and
supersedes all proposals, oral or written, understandings, representations,
conditions, and other communications between the parties relating hereto. This
Agreement may be amended only by a subsequent writing that specifically refers
to this Agreement and is signed by both parties, and no other act, document,
usage, or customer shall be deemed to amend this Agreement.

i) None of the parties shall sell, assign, transfer, convey, delegate or
encumber its duties and obligations hereunder, or any rights or interest
hereunder, and shall not suffer or permit any voluntary assignment or transfer
or encumbrance thereof, by operation of law or otherwise, without the prior
written consent of the other parties.

j) This Agreement may be signed in two or more counterparts, all of which taken
together shall constitute one and the same Agreement, binding on all of the
parties hereto.

k) If any portion of this Agreement is declared to be invalid by any court of
competent jurisdiction, such determination shall not affect the remainder hereof
and the same shall remain in full force and effect.

         WHEREBY, the parties have caused this Agreement to be executed by their
duly authorized officers as set forth below effective as of November 1, 1999.

                                        IMAGING TECHNOLOGY SOLUCTIONS

                                        /s/GREG MEFFERT
                                        ---------------
                                        Greg Meffert, President

                                        POSTAL BUSINESS CENTER NETWORK, INC.

                                        /s/RICHARD A. ALTOMARE
                                        ----------------------
                                        Richard A. Altomare, President & CEO

                                        UNIVERSAL EXPRESS, INC.

                                        /s/ RICHARD A. ALTOMARE
                                        -----------------------
                                        Richard A. Altomare, Chairman

                                       7

<PAGE>

                                    EXHIBIT A

Specific payment terms and actions based on payments are as follows:

$200,000 raised by USXP or outside funding sources in accordance with the
roll-out schedule.

$10,000 due and payable for each 100 members who prepay for the NetEx service
and are eligible for a free flatbed scanner.

Balance due and payable in accordance with the roll-out schedule.

                                       8

<PAGE>

                                    EXHIBIT B

The NetEx service charges its customers based on the size of the documents that
are transmitted.

Below is the NetEx pricing schedule:

$9.95 per month for between 0 and 5 megabytes
$17.95 per month for between 5 and 10 megabytes
$32.95 per month for between 10 and 20 megabytes
$74.95 per month for between 20 and 50 megabytes
$129.95 per month for between 50 and 100 megabytes
$219.95 per month for between 100 and 200 megabytes

Additional usage above 200 are $1.00 per megabyte.

In order for PBC Network members to receive a flatbed scanner at no charge,
again it will depend on the rollout, they must prepay for two years. In return,
the PBC Network members will be paid the following:

--   of revenue generated from the document transmissions below the first 5
     megabytes of data transmission.
--   of the revenue generated from the NetEx subscriptions to other individuals
     or businesses.
--   of the revenue generated by resellers that are introduced to NetEx for the
     purpose of reselling the NetEx product.
--   The remaining of the charge to the PBC Network customer after a $1.00 per
     transaction charge is paid to NetEx.

                                       9<PAGE>

                                                                     Exhibit 4.1

                                FACE OF SECURITY
                                 FIXED RATE NOTE

REGISTERED                                             REGISTERED
NO. FXR                                                U.S. $ [PRINCIPAL AMOUNT]
                                                       CUSIP:*

      Unless this certificate is presented by an authorized representative of
The Depository Trust Company (55 Water Street, New York, New York) to the issuer
or its agent for registration of transfer, exchange or payment, and any
certificate issued is registered in the name of Cede & Co. or such other name as
requested by an authorized representative of The Depository Trust Company and
any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner
hereof, Cede & Co., has an interest herein.*

----------
   *   Applies only if this Note is a Registered Global Security.
<PAGE>

                                  NABISCO, INC.
                                MEDIUM-TERM NOTE
                                  (FIXED RATE)

<TABLE>
<S>                         <C>                         <C>
--------------------------------------------------------------------------------
ORIGINAL ISSUE DATE:        INITIAL REDEMPTION DATE:    INTEREST RATE:
--------------------------------------------------------------------------------
INTEREST ACCRUAL DATE:      INITIAL REDEMPTION          MATURITY DATE:
                            PERCENTAGE:
--------------------------------------------------------------------------------
APPLICABILITY OF ANNUAL     ANNUAL REDEMPTION           OPTIONAL REPAYMENT
INTEREST PAYMENTS:          PERCENTAGE REDUCTION:       DATE(S):
================================================================================
</TABLE>

                                        2
<PAGE>

      Nabisco, Inc., a New Jersey corporation (together with its successors and
assigns, the "ISSUER"), for value received, hereby promises to pay to       , or
registered assignees, the principal sum of U.S. $         , on the Maturity Date
specified above (except to the extent previously redeemed or repaid) and to pay
interest thereon at the Interest Rate per annum specified above from the
Interest Accrual Date specified above until the principal hereof is paid or duly
made available for payment (except as provided below), semiannually in arrears
on the fifteenth day of March and September in each year (each such date an
"INTEREST PAYMENT DATE") commencing on the Interest Payment Date next succeeding
the Interest Accrual Date specified above, and at maturity (or on any redemption
or repayment date); PROVIDED, HOWEVER, that if the Interest Accrual Date occurs
between a Record Date, as defined below, and the next succeeding Interest
Payment Date, interest payments will commence on the second Interest Payment
Date succeeding the Interest Accrual Date to the registered Holder of this Note
on the Record Date with respect to such second Interest Payment Date; and
PROVIDED, FURTHER, that if this Note is subject to "ANNUAL INTEREST PAYMENTS,"
interest payments shall be made annually in arrears and the term "INTEREST
PAYMENT DATE" shall be deemed to mean the fifteenth day of March in each year.

      Interest on this Note will accrue from and including the most recent
Interest Payment Date to which interest has been paid or duly provided for, or,
if no interest has been paid or duly provided for, from and including the
Interest Accrual Date, until the principal hereof has been paid or duly made
available for payment (except as provided below). The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, subject
to certain exceptions described herein, be paid to the person in whose name this
Note (or one or more predecessor Notes) is registered at the close of business
on the date 15 calendar days prior to such Interest Payment Date (whether or not
a Business Day) (each such date a "RECORD DATE"); PROVIDED, HOWEVER, that
interest payable on the Maturity Date (or on any redemption or repayment date)
will be payable to the person to whom the principal hereof shall be payable. As
used herein, "BUSINESS DAY" means any day, other than a Saturday or Sunday, that
is neither a legal holiday nor a day on which banking institutions are
authorized or required by law or regulation to close in The City of New York.

      Payment of the principal of this Note, any premium and the interest due at
maturity (or on any redemption or repayment date) will be made in immediately
available funds upon surrender of this Note at the office or agency of the
Paying Agent, as defined on the reverse hereof, maintained for that purpose in
the Borough of Manhattan, The City of New York, or at such other paying agency
as the Issuer may determine. Payments of interest, other than interest due at
maturity or on any date of redemption or repayment, will be made by check mailed
to the address of the person entitled thereto as such address shall appear in
the Note register; PROVIDED, HOWEVER, that if the registered Holder of this Note
is (i) Cede & Co. or (ii) a holder of U.S. $10,000,000 or more in aggregate
principal amount of Notes having the same Interest Payment Date, such Holder
will be entitled to receive payments of interest, other than interest due at
maturity or on any date of redemption or repayment, by wire transfer of
immediately available funds if appropriate wire transfer instructions have been
received by the Paying Agent in writing not less than 15 calendar days prior to
the applicable Interest Payment Date.

                                        3
<PAGE>

      Reference is hereby made to the further provisions of this Note set forth
on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.

      Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Note shall
not be entitled to any benefit under the Indenture, as defined on the reverse
hereof, or be valid or obligatory for any purpose.

      IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed
under its corporate seal.

DATED:                              NABISCO, INC.

                                    By ___________________________
                                       Name:
                                       Title:

TRUSTEE'S CERTIFICATE
OF AUTHENTICATION

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

CITIBANK, N.A.,
  as Trustee

By _____________________________
   Authorized Officer

                                        4
<PAGE>

                               REVERSE OF SECURITY

      This Note is one of a duly authorized issue of Medium-Term Notes having
maturities of nine months or more from the date of issue (the "NOTES") of the
Issuer. The Notes are issuable under an Indenture, dated as of June 5, 1995 (the
"INDENTURE"), between the Issuer and Citibank, N.A., as Trustee (the "TRUSTEE,"
which term includes any successor trustee under the Indenture), to which
Indenture and all indentures supplemental thereto reference is hereby made for a
statement of the respective rights, limitations of rights, duties and immunities
of the Issuer, the Trustee and Holders of the Notes and the terms upon which the
Notes are, and are to be, authenticated and delivered. The Issuer has appointed
Citibank, N.A. at its corporate trust office in The City of New York as the
paying agent (the "PAYING AGENT," which term includes any additional or
successor Paying Agent appointed by the Issuer) with respect to the Notes. The
terms of individual Notes may vary with respect to interest rates, interest rate
formulas, issue dates, maturity dates, or otherwise, all as provided in the
Indenture. To the extent not inconsistent herewith, the terms of the Indenture
are hereby incorporated by reference herein.

      This Note will not be subject to any sinking fund and, unless otherwise
provided on the face hereof in accordance with the provisions of the following
two paragraphs, will not be redeemable or subject to repayment at the option of
the Holder prior to maturity.

      If so indicated on the face of this Note, this Note may be redeemed in
whole or in part at the option of the Issuer on or after the Initial Redemption
Date specified on the face hereof on the terms set forth on the face hereof,
together with interest accrued and unpaid hereon to the date of redemption
(except as provided below). If this Note is subject to "ANNUAL REDEMPTION
PERCENTAGE REDUCTION," the Initial Redemption Percentage indicated on the face
hereof will be reduced on each anniversary of the Initial Redemption Date by the
Annual Redemption Percentage Reduction specified on the face hereof until the
redemption price of this Note is 100% of the principal amount hereof, together
with interest accrued and unpaid hereon to the date of redemption (except as
provided below). Notice of redemption shall be mailed, not less than 30 nor more
than 60 days prior to the date fixed for redemption, to the registered Holders
of the Notes designated for redemption at their addresses as the same shall
appear on the Note register, subject to all the conditions and provisions of the
Indenture. In the event of redemption of this Note in part only, a new Note or
Notes for the amount of the unredeemed portion hereof shall be issued in the
name of the Holder hereof upon the cancellation hereof.

      If so indicated on the face of this Note, this Note will be subject to
repayment at the option of the Holder on the Optional Repayment Date or Dates
specified on the face hereof on the terms set forth herein. On any Optional
Repayment Date, this Note will be repayable in whole or in part in increments of
$1,000 (provided that any remaining principal amount hereof shall not be less
than the minimum authorized denomination hereof) at the option of the Holder
hereof at a price equal to 100% of the principal amount to be repaid, together
with interest accrued and unpaid hereon to the date of repayment (except as
provided below). For this Note to be repaid at the option of the Holder

                                        5
<PAGE>

hereof, the Paying Agent must receive at its corporate trust office in the
Borough of Manhattan, The City of New York, at least 15 but not more than 30
days prior to the date of repayment, (i) this Note with the form entitled
"Option to Elect Repayment" below duly completed or (ii) a telegram, telex,
facsimile transmission or a letter from a member of a national securities
exchange or the National Association of Securities Dealers, Inc. or a commercial
bank or a trust company in the United States setting forth the name of the
Holder of this Note, the principal amount hereof, the certificate number of this
Note or a description of this Note's tenor and terms, the principal amount
hereof to be repaid, a statement that the option to elect repayment is being
exercised thereby and a guarantee that this Note, together with the form
entitled "Option to Elect Repayment" duly completed, will be received by the
Paying Agent not later than the fifth Business Day after the date of such
telegram, telex, facsimile transmission or letter; PROVIDED, that such telegram,
telex, facsimile transmission or letter shall only be effective if this Note and
form duly completed are received by the Paying Agent by such fifth Business Day.
Exercise of such repayment option by the Holder hereof shall be irrevocable. In
the event of repayment of this Note in part only, a new Note or Notes for the
amount of the unpaid portion hereof shall be issued in the name of the Holder
hereof upon the cancellation hereof.

      Interest payments on this Note will include interest accrued to but
excluding the Interest Payment Dates or the Maturity Date (or any earlier
redemption or repayment date), as the case may be. Interest payments for this
Note will be computed and paid on the basis of a 360-day year of twelve 30-day
months.

      In the case where the Interest Payment Date or the Maturity Date (or any
redemption or repayment date) does not fall on a Business Day, payment of
interest, premium, if any, or principal otherwise payable on such date need not
be made on such date, but may be made on the next succeeding Business Day with
the same force and effect as if made on the Interest Payment Date or on the
Maturity Date (or any redemption or repayment date), and no interest on such
payment shall accrue for the period from and after the Interest Payment Date or
the Maturity Date (or any redemption or repayment date) to such next succeeding
Business Day.

      This Note and all the obligations of the Issuer hereunder are direct,
unsecured obligations of the Issuer and rank without preference or priority
among themselves and PARI PASSU with all other existing and future unsecured and
unsubordinated indebtedness of the Issuer, subject to certain statutory
exceptions in the event of liquidation upon insolvency.

      This Note, and any Note or Notes issued upon transfer or exchange hereof,
is issuable only in fully registered form, without coupons, in denominations of
U.S. $1,000 and any integral multiple of U.S. $1,000 in excess thereof.

      The Trustee has been appointed registrar for the Notes, and the Trustee
will maintain at its office in The City of New York a register for the
registration and registration of transfer of Notes. The transfer of this Note
may be registered at the aforesaid office of the Trustee by surrendering this
Note for cancellation, accompanied by a written instrument of transfer in form
satisfactory to the

                                        6
<PAGE>

Trustee and duly executed by the registered Holder hereof in person or by the
Holder's attorney duly authorized in writing, and thereupon the Trustee shall
issue in the name of the transferee or transferees, in exchange herefor, a new
Note or Notes having identical terms and provisions and having a like aggregate
principal amount in authorized denominations, subject to the terms and
conditions set forth herein; PROVIDED, HOWEVER, that the Trustee will not be
required (i) to register the transfer of or exchange any Note that has been
called for redemption in whole or in part, except the unredeemed portion of
Notes being redeemed in part, (ii) to register the transfer of or exchange any
Note if the Holder thereof has exercised his right, if any, to require the
Issuer to repurchase such Note in whole or in part, except the portion of such
Note not required to be repurchased, or (iii) to register the transfer of or
exchange Notes to the extent and during the period so provided in the Indenture
with respect to the redemption of Notes. Notes are exchangeable at said office
for other Notes of other authorized denominations of equal aggregate principal
amount having identical terms and provisions. All such exchanges and
registrations of transfer of Notes will be free of charge, but the Issuer may
require payment of a sum sufficient to cover any tax or other governmental
charge in connection therewith. All Notes surrendered for exchange shall be
accompanied by a written instrument of transfer in form satisfactory to the
Trustee and executed by the registered Holder in person or by the Holder's
attorney duly authorized in writing. The date of registration of any Note
delivered upon any exchange or transfer of Notes shall be such that no gain or
loss of interest results from such exchange or registration of transfer.

      In case any Note shall at any time become mutilated, defaced or be
destroyed, lost or stolen and such Note or evidence of the loss, theft or
destruction thereof (together with the indemnity hereinafter referred to and
such other documents or proof as may be required in the premises) shall be
delivered to the Trustee, a new Note of like tenor will be issued by the Issuer
in exchange for the Note so mutilated or defaced, or in lieu of the Note so
destroyed or lost or stolen, but, in the case of any destroyed or lost or stolen
Note, only upon receipt of evidence satisfactory to the Trustee and the Issuer
that such Note was destroyed or lost or stolen and, if required, upon receipt
also of indemnity satisfactory to each of them. All expenses and reasonable
charges associated with procuring such indemnity and with the preparation,
authentication and delivery of a new Note shall be borne by the owner of the
Note mutilated, defaced, destroyed, lost or stolen.

      In case an Event of Default with respect to the Notes shall have occurred
and be continuing, the principal hereof and the interest accrued hereon, if any,
may be declared, and upon such declaration shall become, due and payable in the
manner, with the effect and subject to, the conditions provided in the
Indenture.

      The Indenture contains provisions which provide that, without prior notice
to any Holders, the Company and the Trustee may amend the Indenture and the
Securities of any series issued thereunder ("THE SECURITIES") with the written
consent of the holders of a majority in principal amount of the outstanding
Securities of all series affected by such supplemental indenture (all such
series voting as one class), and the holders of a majority in principal amount
of the outstanding Securities of all series affected thereby (all such series
voting as one class) by written notice to the Trustee may waive future
compliance by the Company with any provision of the Indenture or the

                                        7
<PAGE>

Securities of such series; PROVIDED that, without the consent of each Holder of
the Securities of each series affected thereby, an amendment or waiver,
including a waiver of past defaults, may not:

            (i) extend the stated maturity of the principal of, or any sinking
      fund obligation or any installment of interest on, such Holder's Security,
      or reduce the principal amount thereof or the rate of interest thereon
      (including any amount in respect of original issue discount), or any
      premium payable with respect thereto, or adversely affect the rights of
      such Holder under any mandatory redemption or repurchase provision or any
      right of redemption or repurchase at the option of such Holder, or reduce
      the amount of the principal of an Original Issue Discount Security that
      would be due and payable upon an acceleration of the maturity or the
      amount thereof provable in bankruptcy, or change any place of payment
      where, or the currency in which, any Security or any premium or the
      interest thereon is payable, or impair the right to institute suit for the
      enforcement of any such payment on or after the due date therefor;

            (ii) reduce the percentage in principal amount of outstanding
      Securities of the relevant series the consent of whose holders is required
      for any such supplemental indenture, for any waiver of compliance with
      certain provisions of the Indenture or certain Defaults and their
      consequences provided for in the Indenture;

            (iii) waive a Default in the payment of principal of or interest on
      any Security of such Holder; or

            (iv) modify any of the provisions of the Indenture governing
      supplemental indentures with the consent of Securityholders except to
      increase any such percentage or to provide that certain other provisions
      of the Indenture cannot be modified or waived without the consent of the
      holder of each outstanding Security affected thereby.

      It is also provided in the Indenture that, subject to certain conditions,
the holders of at least a majority in principal amount of the outstanding
Securities of all series affected (voting as a single class), by notice to the
Trustee, may waive an existing Default or Event of Default with respect to the
Securities of such series and its consequences, except a Default in the payment
of principal of or interest on any Security or in respect of a covenant or
provision of the Indenture which cannot be modified or amended without the
consent of the holder of each outstanding Security affected. Upon any such
waiver, such Default shall cease to exist, and any Event of Default with respect
to the Securities of such series arising therefrom shall be deemed to have been
cured, for every purpose of the Indenture; but no such waiver shall extend to
any subsequent or other Default or Event of Default or impair any right
consequent thereto.

      So long as this Note shall be outstanding, the Issuer will cause to be
maintained an office or agency for the payment of the principal of and premium,
if any, and interest on this Note as herein provided in the Borough of
Manhattan, The City of New York, and an office or agency in said Borough of
Manhattan for the registration, registration of transfer and exchange as
aforesaid of the

                                        8
<PAGE>

Notes. The Issuer may designate other agencies for the payment of said
principal, premium and interest at such place or places (subject to applicable
laws and regulations) as the Issuer may decide. So long as there shall be such
an agency, the Issuer shall keep the Trustee advised of the names and locations
of such agencies, if any are so designated.

      With respect to moneys paid by the Issuer and held by the Trustee or any
Paying Agent for payment of the principal of or interest or premium, if any, on
any Notes that remain unclaimed at the end of two years after such principal,
interest or premium shall have become due and payable (whether at maturity or
upon call for redemption or otherwise), (i) the Trustee or such Paying Agent
shall notify the Holders of such Notes that such moneys shall be repaid to the
Issuer and any person claiming such moneys shall thereafter look only to the
Issuer for payment thereof and (ii) such moneys shall be so repaid to the
Issuer. Upon such repayment all liability of the Trustee or such Paying Agent
with respect to such moneys shall thereupon cease, without, however, limiting in
any way any obligation that the Issuer may have to pay the principal of or
interest or premium, if any, on this Note as the same shall become due.

      No provision of this Note or of the Indenture shall alter or impair the
obligation of the Issuer, which is absolute and unconditional, to pay the
principal of, premium, if any, and interest on this Note at the time, place, and
rate, and in the coin or currency, herein prescribed unless otherwise agreed
between the Issuer and the registered Holder of this Note.

      Prior to due presentment of this Note for registration of transfer, the
Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the
Holder in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and none of the Issuer, the
Trustee or any such agent shall be affected by notice to the contrary.

      No recourse shall be had for the payment of the principal of, premium, if
any, or the interest on this Note, for any claim based hereon, or otherwise in
respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, shareholder, officer or
director, as such, past, present or future, of the Issuer or of any successor
corporation, either directly or through the Issuer or any successor corporation,
whether by virtue of any constitution, statute or rule of law or by the
enforcement of any assessment or penalty or otherwise, all such liability being,
by the acceptance hereof and as part of the consideration for the issue hereof,
expressly waived and released.

      This Note shall for all purposes be governed by, and construed in
accordance with, the laws of the State of New York.

      All terms used in this Note which are defined in the Indenture and not
otherwise defined herein shall have the meanings assigned to them in the
Indenture.

                                        9
<PAGE>

                                  ABBREVIATIONS

      The following abbreviations, when used in the inscription on the face of
this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:

      TEN COM  -  as tenants in common
      TEN ENT  -  as tenants by the entireties
      JT TEN   -  as joint tenants with right of survivorship and not as tenants
                  in common

      UNIF GIFT MIN ACT- ________________ Custodian ________________
                              (Cust)                    (Minor)

      Under Uniform Gifts to Minors Act _______________________
                                               (State)

      Additional abbreviations may also be used though not in the above list.

                                   ----------

                                       10
<PAGE>

      FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto

---------------------------------------
[PLEASE INSERT SOCIAL SECURITY OR OTHER
    IDENTIFYING NUMBER OF ASSIGNEE]

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

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

--------------------------------------------------------------------------------
    [PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING ZIP CODE, OF ASSIGNEE]

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing such person attorney to transfer such note on the books of the
Issuer, with full power of substitution in the premises.

Dated:_____________________

NOTICE:    The signature to this assignment must correspond with the name as
           written upon the face of the within Note in every particular without
           alteration or enlargement or any change whatsoever.

                                       11
<PAGE>

                            OPTION TO ELECT REPAYMENT

           The undersigned hereby irrevocably requests and instructs the Issuer
to repay the within Note (or portion thereof specified below) pursuant to its
terms at a price equal to the principal amount thereof, together with interest
to the Optional Repayment Date, to the undersigned at

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

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

--------------------------------------------------------------------------------
         (Please print or typewrite name and address of the undersigned)

           If less than the entire principal amount of the within Note is to be
repaid, specify the portion thereof which the Holder elects to have repaid:
__________________; and specify the denomination or denominations (which shall
not be less than the minimum authorized denomination) of the Notes to be issued
to the Holder for the portion of the within Note not being repaid (in the
absence of any such specification, one such Note will be issued for the portion
not being repaid): ____________________________.

Dated:________________               ___________________________________________
                                     NOTICE: The signature to this
                                     assignment must correspond with the
                                     name as written upon the face of the within
                                     Note in every particular without alteration
                                     or enlargement or any change whatsoever.

NOTICE: The signature on this Option to Elect Repayment must correspond with the
name as written upon the face of the within instrument in every particular
without alteration or enlargement.

                                       12

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