Document:

EX-10.8

                                 PROMISSORY NOTE

$1,000,000                                                    SEPTEMBER 25, 2006
                                                                PORTLAND, OREGON

                  FOR VALUE  RECEIVED,  Vaughan  Foods,  Inc.  ("Maker"  herein)
promises to pay to the order of Paulson Investment Company, Inc. ("Holder"), the
principal  sum  of  One  Million  and  no/100ths  Dollars  ($1,000,000.00)  (the
"Obligation").  Interest on the Obligation  shall accrue until the Obligation is
paid in full at the rate of ten  percent  (10%) per annum.  The  Obligation  and
interest  shall be payable in lawful  money of the United  States,  at Portland,
Oregon or such other place as the Holder hereof may designate.

                  Interest  shall be computed on monthly basis of a 365-day year
or 366-day year,  as  applicable,  and actual days lapsed.  Maker shall have the
right to prepay at any time in advance of maturity,  without premium or penalty,
all or any part of the  principal  amount of this  Promissory  Note or  interest
thereon.  Payments shall be first applied to outstanding interest and thereafter
to the principal.

         This Promissory Note shall be payable as follows:

         1. When a registration  statement for an initial  public  offering (the
"Offering")  of Maker is filed  with the  SEC,  this  Promissory  Note  shall be
payable on the following schedule:

                  09/28/06------$250,000
                  10/04/06------$250,000
                  10/11/06------$100,000
                  10/18/06------$100,000
                  10/25/06------$100,000
                  11/01/06------$100,000
                  11/08/06------$100,000

  At the option of the Holder,  the Holder may deduct such  payment from the net
proceeds  otherwise  payable  by the  Holder  to the  Maker at the  closing  the
Offering.

         2. In the event the  Offering  has not closed on or before the close of
business on March 31, 2007,  this  Promissory  Note shall  thereafter be payable
thirty (30) days after demand for payment by the Holder.

         Maker waives diligence, presentment, demand, protest, and notice of any
kind whatsoever.  The non-exercise by Holder of any of Holder's rights hereunder
in any instance  shall not constitute a waiver thereof in that or any subsequent
instance.

         Maker shall pay upon demand any and all expenses,  including reasonable
attorney  fees,  incurred or paid by Holder without suit or action in attempting
to  collect  funds  due under  this  Promissory  Note.  In the even an action is
instituted  to enforce or  interpret  any of the terms of this  Promissory  Note
including but not

<PAGE>

Promissory Note
September 25, 2006
Page 2

limited to any action or  participation  by Maker in, or in  connection  with, a
case or proceeding under the U.S. Bankruptcy Code or any successor statute,  the
prevailing party shall be entitled to recover all expenses  reasonably  incurred
at, before and after trial,  on appeal,  and on review whether or not taxable as
costs, including, without limitation,  attorneys' fees, witness fees (expert and
otherwise), deposition costs, copying charges and other expenses.

         This  Promissory  Note is to be  construed in all respects and enforced
according to the laws of the State of Oregon.

                                            "MAKER"

                                            VAUGHAN FOODS, INC.

                                            By:  /s/ Mark E. Vaughan
                                                --------------------------------

                                            Its: President
                                                --------------------------------

Accepted:

"HOLDER"

PAULSON INVESTMENT COMPANY, INC.

By:  Lorraine Maxfield
    ------------------------------------------
Its: Senior Vice President, Corporate Finance
    ------------------------------------------Exhibit 4.3

                    THIS
WARRANT CERTIFICATE (I) CANNOT BE TRANSFERRED OR EXCHANGED UNTIL THE
EARLIER TO OCCUR OF THE EXPIRATION OF THE UNDERWRITER’S OPTION TO PURCHASE UP
TO ____________ADDITIONAL UNITS TO COVER OVER-ALLOTMENTS OR THE EXERCISE IN
FULL BY THE UNDERWRITER OF SUCH OPTION (THE “DETACHMENT
DATE”) UNLESS INCLUDED WITH A SHARE OF COMMON STOCK OF
___________________ AS PART OF A UNIT AND (II) CANNOT BE EXERCISED IN
WHOLE OR IN PART UNTIL THE LATER OF THE COMPANY’S COMPLETION OF A BUSINESS
COMBINATION AND [___________], 2007.

EXERCISABLE ONLY
IF COUNTERSIGNED BY THE WARRANT

AGENT AS PROVIDED HEREIN.

Warrant
Certificate evidencing

Warrants to Purchase Common Stock, par value $.0001, as described herein.

CHURCHILL

	
   

  	
   

  
	
  No. ___________

  	
  CUSIP No. 

  
	
  [________]

  	
   

  

VOID
AFTER 5:00 P.M., NEW YORK CITY TIME, ON [_________], 2010,

OR UPON EARLIER REDEMPTION

                    This
certifies that ________________________, or its registered assigns, is the
registered holder of _____________________ warrants to purchase certain
securities (each a “Warrant”).
Each Warrant entitles the holder thereof, subject to the provisions contained
herein and in the Warrant Agreement (as defined below), to purchase from
Churchill Ventures Ltd., a Delaware corporation (the “Company”), one share of the Company’s
Common Stock (each a “Share”), at
the Exercise Price set forth below. The exercise price of each Warrant (the “Exercise Price”) shall be $_____
initially,
subject to adjustments as set forth in the Warrant Agreement.

                    Subject
to the terms of the Warrant Agreement, each Warrant evidenced hereby may be
exercised in whole, but not in part, at any time, as specified herein, on any
Business Day (as defined below) occurring during the period (the “Exercise Period”) commencing on the later
of the Company’s completion of a Business Combination (as defined below) and
[_________], 2007 and ending at 5:00 P.M., New York City time, on the
earlier to occur of [___________], 2010 or the Redemption Date (the “Expiration Date”). Each Warrant remaining
unexercised after 5:00 P.M., New York City time on the Expiration Date
shall become void, and all rights of the holder of this Warrant Certificate
evidencing such Warrant shall cease.

                    The
holder of the Warrants represented by this Warrant Certificate may exercise any
Warrant evidenced hereby by delivering, not later than 5:00 P.M., New York
City time, on any Business Day during the Exercise Period (the “Exercise Date”) to Continental Stock 

Transfer & Trust Company (the “Warrant Agent”, which term includes any
successor warrant agent under the Warrant Agreement described below) at its
corporate trust department at 17 Battery Place, New York, NY 10004, (i) this
Warrant Certificate, (ii) an election to purchase (“Election to Purchase”), properly executed by the holder hereof
on the reverse of this Warrant Certificate (the “Participant”) substantially in the form included on the
reverse of hereof, as applicable and (iii) the Exercise Price for each
Warrant to be exercised in lawful money of the United States of America by
certified or official bank check or by bank wire transfer in immediately
available funds; provided, however, that the holder of this
Warrant Certificate may, in lieu of payment of the Exercise Price, surrender
its Warrants for that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the product of the number of shares of Common Stock
underlying the surrendered Warrants, multiplied by the difference between the
Fair Market Value (defined below) and the Exercise Price by (y) the Fair Market
Value. The “Fair Market Value”
shall mean the average reported last sale price of the Common Stock for the 10
trading days ending on the 3rd trading day prior to the date on which the
Election to Purchase is received by the Warrant Agent. If any of (a) this
Warrant Certificate, (b) the Election to Purchase, or (c) the Exercise
Price therefor or surrendered
Warrants, is received by the Warrant Agent after 5:00 P.M., New York City
time, the Warrants will be deemed to be received and exercised on the Business
Day next succeeding the date such items are received and such date shall be the
Exercise Date for purposes hereof. If the date such items are received is not a
Business Day, the Warrants will be deemed to be received and exercised on the
next succeeding day which is a Business Day and such date shall be the Exercise
Date. If the Warrants to be exercised are received or deemed to be received
after the Expiration Date, the exercise thereof will be null and void and any
funds delivered to the Warrant Agent will be returned to the holder as soon as
practicable. In no event will interest accrue on funds deposited with the
Warrant Agent in respect of an exercise or attempted exercise of Warrants. The
validity of any exercise of Warrants will be determined by the Warrant Agent in
its sole discretion and such determination will be final and binding upon the
holder of the Warrants and the Company. Neither the Warrant Agent nor the
Company shall have any obligation to inform a holder of Warrants of the
invalidity of any exercise of Warrants.

                    As
used herein, the term “Business Day”
means any day that is not a Saturday or Sunday and is not a United States
federal holiday or a day on which banking institutions generally are authorized
or obligated by law or regulation to close in New York City.

                    As
used herein, the term “Business Combination”
shall mean an acquisition by the Corporation of one or more assets or operating
businesses in the telecommunications and media industries (collectively, the “Target Business”), through a merger,
capital stock exchange, asset or stock acquisition or other similar business
combination having collectively, a fair market value (as calculated in
accordance with the requirements set forth below) of at least 80% of the
Corporation’s net assets (excluding the IPO underwriter’s deferred discount) at
the time of such acquisition

          Warrants
may be exercised only in whole numbers of Warrants. No fractional shares of
Common Stock are to be issued upon the exercise of any Warrant. If, upon
exercise of the Warrants, a Registered Holder would be entitled to receive a
fractional interest in a share of Common Stock, the Company will elect, upon
exercise, to either (i) round up to the nearest whole number the number of
shares of Common Stock to be issued to the Registered Holder or

(ii) pay out the fractional
interest in cash. If fewer than all of the Warrants evidenced by this Warrant Certificate
are exercised, a new Warrant Certificate for the number of Warrants remaining
unexercised shall be executed by the Company and countersigned by the Warrant
Agent as provided in Section 2 of the Warrant Agreement, and delivered to the
holder of this Warrant Certificate at the address specified on the books of the
Warrant Agent or as otherwise specified by such Registered Holder.

                    Notwithstanding
the foregoing, the Company shall not be obligated to deliver any Shares
pursuant to the exercise of a Warrant and shall have no obligation to settle a
Warrant exercise unless a registration statement under the Securities Act of
1933, as amended (the “Securities Act”),
with respect to the Shares is effective and a current prospectus is on file
with the Commission. In the event that a registration statement with respect to
the Shares underlying a Warrant is not effective under the Securities Act or a
current prospectus is not on file with the Commission, the holder of such
Warrant shall not be entitled to exercise such Warrant and such Warrant may
expire worthless. Notwithstanding anything to the contrary in the Warrant
Agreement (as defined below) and this Warrant Certificate, under no
circumstances will the Company be required to net cash settle a Warrant
exercise. Warrants may not be exercised by, or Shares issued to, any registered
holder in any state in which such exercise or issuance would be unlawful. For
the avoidance of doubt, as a result of Section 3.3.3 of the Warrant Agreement
and the foregoing, any or all of the Warrants may expire unexercised.

                    This
Warrant Certificate is issued under and in accordance with the Warrant
Agreement, dated as of [________], 2006 (the “Warrant
Agreement”), between the Company and the Warrant Agent and is
subject to the terms and provisions contained in the Warrant Agreement, to all
of which terms and provisions the holder of this Warrant Certificate and the
beneficial owners of the Warrants represented by this Warrant Certificate consent
by acceptance hereof. Copies of the Warrant Agreement are on file and can be
inspected at the above-mentioned office of the Warrant Agent and at the office
of the Company at __________________.

                    At
any time during the Exercise Period, the Company may, at its option, redeem all
(but not part) of the then outstanding Warrants upon giving notice in
accordance with the terms of the Warrant Agreement (the “Redemption Notice”), at the price of $0.01
per Warrant (the “Redemption Price”);
provided, that the last sales price of the Shares has been at least
$11.50 per Share (subject to adjustment as provided in the Warrant Agreement),
on any twenty (20) trading days within a thirty (30) trading day period ending
on the third Business Day prior to the date on which the Redemption Notice is
given. In the event the Company shall elect to redeem all of the then
outstanding Warrants, the Company shall fix a date for such redemption (the “Redemption Date”); provided, that
such date shall occur prior to the expiration of the Exercise Period. The
Warrants may be exercised in accordance with the terms of this Agreement at any
time after a Redemption Notice shall have been given by the Company; provided,
however, that no Warrants may be exercised subsequent to the expiration
of the Exercise Period; provided, further, that all rights
whatsoever with respect to the Warrants shall cease on the Redemption Date,
other than to the right to receive the Redemption Price.

                    The
accrual of dividends, if any, on the Shares issued upon the valid exercise of
any Warrant will be governed by the terms generally applicable to such Shares.
From and after 

the issuance of such Shares, the former holder of the
Warrants exercised will be entitled to the benefits generally available to
other holders of Shares and such former holder’s right to receive payments of
dividends and any other amounts payable in respect of the Shares shall be
governed by, and shall be subject to, the terms and provisions generally applicable
to such Shares.

                    The
Exercise Price and the number of Shares purchasable upon the exercise of each
Warrant shall be subject to adjustment as provided pursuant to Section 4 of the
Warrant Agreement.

                    Prior
to the Detachment Date, the Warrants represented by this Warrant Certificate
may be exchanged or transferred only together with the Shares to which such
Warrant is attached (together, a “Unit”),
and only for the purpose of effecting, or in conjunction with, an exchange or
transfer of such Unit. Additionally, prior to the Detachment Date, each
transfer of such Unit on the register of the Units shall operate also to
transfer the Warrants included in such Units. From and after the Detachment
Date, the above provisions shall be of no further force and effect. Upon due
presentment for registration of transfer or exchange of this Warrant
Certificate at the stock transfer division of the Warrant Agent, the Company
shall execute, and the Warrant Agent shall countersign and deliver, as provided
in Section 5 of the Warrant Agreement, in the name of the designated transferee
one or more new Warrant Certificates of any authorized denomination evidencing
in the aggregate a like number of unexercised Warrants, subject to the limitations
provided in the Warrant Agreement.

                    Neither
this Warrant Certificate nor the Warrants evidenced hereby shall entitle the
holder hereof or thereof to any of the rights of a holder of the Shares,
including, without limitation, the right to receive dividends, if any, or
payments upon the liquidation, dissolution or winding up of the Company or to
exercise voting rights, if any.

                    The
Warrant Agreement and this Warrant Certificate may be amended as provided in
the Warrant Agreement including, under certain circumstances described therein,
without the consent of the holder of this Warrant Certificate or the Warrants
evidenced hereby.

                    THIS
WARRANT CERTIFICATE AND ALL RIGHTS HEREUNDER AND UNDER THE WARRANT AGREEMENT
SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS FORMED AND TO BE PERFORMED
ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT
REGARD TO THE CONFLICTS OF LAW PROVISIONS THEREOF TO THE EXTENT SUCH PRINCIPLES
OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.

                    This
Warrant Certificate shall not be entitled to any benefit under the Warrant
Agreement or be valid or obligatory for any purpose, and no Warrant evidenced
hereby may be exercised, unless this Warrant Certificate has been countersigned
by the manual signature of the Warrant Agent.

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

Dated as of __________, 2006

	
   

  	
   

  
	
   

  	
Churchill Ventures Ltd.

  	
   

  
	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  

  
	
   

  	
             Authorized
  Officer

  

Continental Stock Transfer & Trust Company,

     as Warrant Agent

	
   

  	
   

  	
   

  
	
  By: 

  	
   

  	
   

  
	
   

  	
  

  	
   

  
	
            Authorized
  Officer

  

[REVERSE]

Instructions for
Exercise of Warrant

                    To
exercise the Warrants evidenced hereby, the holder or Participant must, by
5:00 P.M., New York City time, on the specified Exercise Date, deliver to
the Warrant Agent at its stock transfer division, cash, a certified or official
bank check or a wire transfer in immediately available funds, in each case
payable to the Warrant Agent at Account No. ____, in an amount equal to
the Exercise Price in full for the Warrants exercised [; provided, however, that the holder of this
Warrant Certificate may, in lieu of payment of the Exercise Price for the
Warrants, surrender its Warrants for that number of shares of Common Stock
equal to the quotient obtained by dividing (x) the product of the number of
shares of Common Stock underlying the surrendered Warrants, multiplied by the
difference between the Fair Market Value and the Exercise Price by (y) the Fair
Market Value]1.
In addition, the Warrant holder or Participant must provide the information
required below and deliver this Warrant Certificate to the Warrant Agent at the
address set forth below. The Warrant
Certificate and this Election to Purchase must be received by the Warrant Agent
by 5:00 P.M., New York time, on the specified Exercise Date. 

ELECTION TO
PURCHASE

TO BE EXECUTED IF WARRANT HOLDER DESIRES

TO EXERCISE THE WARRANTS EVIDENCED HEREBY

                    The
undersigned hereby irrevocably elects to exercise, on __________, ____ (the “Exercise Date”), _____________ Warrants,
evidenced by this Warrant Certificate, to purchase, _________________ of the
shares of Common Stock (each a “Share”)
of ______________, a Delaware corporation (the “Company”), and represents that, on or before the Exercise
Date, such holder has tendered payment for such Shares by certified or official
bank check or bank wire transfer in immediately available funds to the order of
the Company c/o Continental Stock Transfer & Trust Company, 17 Battery
Place, New York, New York 10004, in the amount of $_____________ in accordance
with the terms hereof [ or, at the
election of the holder, the holder (in lieu of payment of the Exercise Price
for the Warrants) has surrendered Warrants for that number of shares of Common
Stock equal to the quotient obtained by dividing (x) the product of the number
of shares of Common Stock underlying the surrendered Warrants, multiplied by
the difference between the Fair Market Value and the Exercise Price by (y) the
Fair Market Value in accordance with the terms hereof]2. The undersigned
requests that said number of
Shares be in fully registered form, registered in such names and delivered, all
as specified in accordance with the instructions set forth below. 

                    If
said number of Shares is less than all of the Shares purchasable hereunder, the
undersigned requests that a new Warrant Certificate evidencing the remaining
balance of the Warrants evidenced hereby be issued and delivered to the holder
of the Warrant Certificate unless otherwise specified in the instructions below.

	
 

	
 

	

	
1

	
To be included only in Warrant Certificates
  representing Warrants issued in the private placement.

	
2

	
To be included only in Warrant Certificates
  representing Warrants issued in the private placement.

	
 

	
 

	
Dated: ______________ __, ____

	
 

	
 

	
 

	
Name______________________________

	
(Please Print)

	
 

	
 

	
/  /  /  / - /  /  / - /  /  /  /  /                 

	
 

	
(Insert Social Security

	
 

	
or Other Identifying

	
 

	
Number of Holder)

	
Address _______________________

	
 

	
              _______________________

	
 

	
 

	
Signature_____________________

	
 

	
 

	
 

	
            
        
            This Warrant may only be exercised by presentation
  to the Warrant Agent at one of the following locations:

	
 

	
 

	
 

	
By hand at:

	
 

	
 

	
 

	
By mail at:

                    The
method of delivery of this Warrant Certificate is at the option and risk of the
exercising holder and the delivery of this Warrant Certificate will be deemed
to be made only when actually received by the Warrant Agent.  If delivery is by mail, registered mail with
return receipt requested, properly insured, is recommended.  In all cases, sufficient time should be
allowed to assure timely delivery.

(Instructions as
to form and delivery of Shares and/or Warrant Certificates)

	
 

	
 

	
 

	
Name in which Shares are to be registered if other
  than in the name of the registered holder of this Warrant Certificate:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
Address to which Shares are to be mailed if other
  than to the  address of the registered
  holder of  this Warrant Certificate as
  shown on  the books of the Warrant
  Agent:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
(Street Address)

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
(City and State) (Zip Code)

Name in which Warrant Certificate

evidencing unexercised Warrants, if any,

	
 

	
 

	
 

	
are to be registered if other than in the name of
  the registered holder of this Warrant Certificate:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
Address to which certificate representing
  unexercised Warrants, if any, are to be mailed if other than to the address
  of the registered holder of this Warrant Certificate as shown on the books of
  the Warrant Agent:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
(Street Address)

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
(City and State) (Zip Code)

	
 

	
 

	
 

	
 

	
 

	
Dated:

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Signature

	
 

	
 

	
 

	
 

	
 

	
Signature
  must conform in all respects to the name of the holder as specified on the
  face of this Warrant Certificate.  If
  Shares, or a Warrant Certificate evidencing unexercised Warrants, are to be
  issued in a name other than that of the registered holder hereof or are to be
  delivered to an address other than the address of such holder as shown on the
  books of the Warrant Agent, the above signature must be guaranteed by an
  Eligible Guarantor Institution (as that term is defined in Rule 17Ad-15 of
  the Securities Exchange Act of 1934, as amended).

	
 

	
 

	
SIGNATURE GUARANTEE

	
 

	
Name of
  Firm __________________________________

	
 

	
Address ______________________________________

	
 

	
Area Code

	
 

	
   and
  Number __________________________________

	
 

	
Authorized

	
 

	
   Signature ____________________________________

	
 

	
Name ________________________________________

	
 

	
Title ________________________________________

	
 

	
Dated: ________________________________,
  20_____

	
 

	
 

	
 

ASSIGNMENT

(FORM OF
ASSIGNMENT TO BE EXECUTED IF WARRANT HOLDER

DESIRES TO TRANSFER WARRANTS EVIDENCED HEREBY)

                    FOR
VALUE RECEIVED, _________________ HEREBY SELL(S), ASSIGN(S) AND TRANSFER(S) UNTO ______________________________________________________________________________________

	
 

	
 

	
 

	

	
 

	

	
 

	
 

	
 

	
(Please print name and address

	
 

	
(Please insert social security or

	
including zip code of assignee)

	
 

	
other identifying number of assignee)

	
 

	
 

	
 

	
the rights represented by the within Warrant
  Certificate and does hereby irrevocably constitute and appoint ____________
  Attorney to transfer said Warrant Certificate on the books of the Warrant
  Agent with full power of substitution in the premises.

	
 

	
Dated:

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
Signature

	
 

	
 

	
 

	
(Signature
  must conform in all respects to the name of the holder as specified on the
  face of this Warrant Certificate and must bear a signature guarantee by an
  Eligible Guarantor Institution (as that term is defined in Rule 17Ad-15 of
  the Securities Exchange Act of 1934, as amended).

	
 

	
 

	
 

	
SIGNATURE GUARANTEE

	
 

	
Name of
  Firm __________________________________

	
 

	
Address ______________________________________

	
 

	
Area Code

	
 

	
   and
  Number __________________________________

	
 

	
Authorized

	
 

	
   Signature ____________________________________

	
 

	
Name ________________________________________

	
 

	
Title ________________________________________

	
 

	
Dated: ________________________________,
  20_____

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