Document:

Exhibit 10.2

      THIS NOTE AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS NOTE HAVE
      NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED,  OR ANY
      STATE  SECURITIES  LAWS.  THIS NOTE AND THE COMMON  SHARES  ISSUABLE  UPON
      CONVERSION  OF THIS NOTE MAY NOT BE SOLD,  OFFERED  FOR SALE,  PLEDGED  OR
      HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE  REGISTRATION  STATEMENT AS TO
      THIS NOTE UNDER SAID ACT AND ANY APPLICABLE  STATE  SECURITIES  LAWS OR AN
      OPINION OF COUNSEL REASONABLY  SATISFACTORY TO eLEC  COMMUNICATIONS  CORP.
      THAT SUCH REGISTRATION IS NOT REQUIRED.

                          SECURED CONVERTIBLE TERM NOTE

      FOR VALUE RECEIVED, eLEC COMMUNICATIONS CORP., a New York corporation (the
"Borrower"),  hereby  promises  to pay to  LAURUS  MASTER  FUND,  LTD.,  c/o M&C
Corporate Services Limited,  P.O. Box 309 GT, Ugland House, South Church Street,
George Town, Grand Cayman,  Cayman Islands,  Fax: 345-949-8080 (the "Holder") or
its  registered  assigns or  successors  in interest,  on order,  the sum of Two
Million  Dollars  ($2,000,000),  together  with any accrued and unpaid  interest
hereon, on February 8, 2006 (the "Maturity Date") if not sooner paid;  provided,
however,  if the Borrower shall enter into a service provider  agreement in form
and substance satisfactory to the Holder (the "Service Provider Agreement") with
a  service  provider  satisfactory  to the  Holder  and  such  Service  Provider
Agreement  shall be effective  on or before  August 1, 2005,  the Maturity  Date
shall be February 8, 2008.

      Capitalized  terms used herein without  definition shall have the meanings
ascribed to such terms in that certain Securities Purchase Agreement dated as of
the date hereof  between the Borrower  and the Holder (as  amended,  modified or
supplemented from time to time, the "Purchase Agreement").

The following terms shall apply to this Note:

                                    ARTICLE I
                             INTEREST & AMORTIZATION

      1.1 (a) Interest  Rate.  Subject to Sections  1.1(b),  4.2 and 5.6 hereof,
interest  payable on this Note shall  accrue at a rate per annum (the  "Interest
Rate") equal to the "prime rate"  published in The Wall Street Journal from time
to time, plus three percent (3%). The prime rate shall be increased or decreased
as the case may be for each  increase or decrease in the prime rate in an amount
equal to such  increase  or  decrease  in the  prime  rate;  each  change  to be
effective  as of the day of the  change  in such  rate.  Interest  shall  be (i)
calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears,
commencing  on March 1, 2005 and on the first  business day of each  consecutive
calendar month  thereafter  until the Maturity Date (and on the Maturity  Date),
whether by acceleration or otherwise (each, a "Repayment Date").

      1.1 (b) Interest Rate Adjustment. The Interest Rate shall be calculated on
the last

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business  day  of  each  month   hereafter  until  the  Maturity  Date  (each  a
"Determination Date") and shall be subject to adjustment as set forth herein. If
(i) the Borrower shall have registered the shares of the Borrower's common stock
issuable  upon  the  conversion  of the Note and the  exercise  of that  certain
warrant issued to Holder on a registration  statement  declared effective by the
Securities  and Exchange  Commission  (the "SEC"),  and (ii) the average  market
price (the "Market Price") of the Common Stock as reported by Bloomberg, L.P. on
the Principal  Market (as defined  below) for the five (5)  consecutive  trading
days  immediately  preceding a  Determination  Date exceeds the then  applicable
Fixed Conversion Price (as defined below) by at least twenty five percent (25%),
the Interest  Rate for the  succeeding  calendar  month shall  automatically  be
reduced by 200 basis points (200 b.p.) (2.0.%) for each incremental  twenty five
percent  (25%)  increase in the Market  Price of the Common Stock above the then
applicable Fixed Conversion Price.  Notwithstanding  the foregoing (and anything
to the  contrary  contained in herein),  in no event shall the Interest  Rate be
less than zero percent (0%).

      1.2  Minimum  Monthly  Principal  Payments.  Amortizing  payments  of  the
aggregate  principal  amount  outstanding  under  this  Note  at any  time  (the
"Principal  Amount")  shall  begin on May 1, 2005 and  shall  recur on the first
business day of each succeeding  month thereafter until the Maturity Date (each,
an  "Amortization  Date").  Subject to Article 3 below,  beginning  on the first
Amortization  Date,  the Borrower  shall make monthly  payments to the Holder on
each Repayment Date, each in the amount of $60,606.06, together with any accrued
and unpaid interest to date on such portion of the Principal Amount plus any and
all other amounts which are then owing under this Note,  the Purchase  Agreement
or any  other  Related  Agreement  but  have not been  paid  (collectively,  the
"Monthly Amount"). Any Principal Amount that remains outstanding on the Maturity
Date shall be due and payable on the Maturity Date.

                                   ARTICLE II
                              CONVERSION REPAYMENT

      2.1 (a) Payment of Monthly Amount in Cash or Common Stock.  If the Monthly
Amount  (or a portion  thereof  of such  Monthly  Amount if such  portion of the
Monthly  Amount  would have been  converted  into shares of Common Stock but for
Section 3.2) is required to be paid in cash pursuant to Section 2.1(b), then the
Borrower  shall pay the Holder an amount equal to 102% of the Monthly Amount due
and owing to the Holder on the Repayment Date in cash. If the Monthly Amount (or
a  portion  of such  Monthly  Amount  if not all of the  Monthly  Amount  may be
converted into shares of Common Stock pursuant to Section 3.2) is required to be
paid in shares of Common Stock  pursuant to Section  2.1(b),  the number of such
shares to be issued by the  Borrower  to the Holder on such  Repayment  Date (in
respect of such portion of the Monthly Amount converted into in shares of Common
Stock pursuant to Section  2.1(b)),  shall be the number  determined by dividing
(x) the portion of the Monthly Amount  converted into shares of Common Stock, by
(y) the then applicable Fixed Conversion Price. For purposes hereof, the initial
"Fixed Conversion Price" means $0.63.

      (b) Monthly Amount Conversion Guidelines.  Subject to Sections 2.1(a), 2.2
and 3.2 hereof,  the Holder  shall  convert into shares of Common Stock all or a
portion  of the  Monthly

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Amount due on each  Repayment Date  according to the following  guidelines  (the
"Conversion  Criteria"):  (i) the average  closing  price of the Common Stock as
reported by Bloomberg, L.P. on the Principal Market for the five (5) consecutive
trading days immediately  preceding such Repayment Date shall be greater than or
equal  to 115% of the  Fixed  Conversion  Price  and  (ii)  the  amount  of such
conversion  does not exceed twenty five percent  (25%) of the  aggregate  dollar
trading  volume of the Common  Stock for the twenty two (22) day trading  period
immediately  preceding the applicable Repayment Date. If the Conversion Criteria
are not met, the Holder shall convert only such part of the Monthly  Amount that
meets the Conversion Criteria. Any part of the Monthly Amount due on a Repayment
Date that the Holder is not  required to convert into shares of Common Stock due
to failure to meet the  Conversion  Criteria,  shall be paid by the  Borrower in
cash at the rate of 102% of the Monthly  Amount  otherwise due on such Repayment
Date, within three (3) business days of the applicable Repayment Date.

      2.2 No Effective  Registration.  Notwithstanding  anything to the contrary
herein, no amount  outstanding  hereunder or under the Purchase Agreement or the
other Related  Agreements  may be converted  into Common Stock unless (i) either
(x) an effective current Registration  Statement (as defined in the Registration
Rights  Agreement)  covering  the  shares  of  Common  Stock  to  be  issued  in
satisfaction of such obligations exists or (y) an exemption from registration of
the Common Stock is  available  pursuant to Rule 144 of the  Securities  Act and
(ii) no Event of Default  hereunder exists and is continuing,  unless such Event
of Default is cured within any applicable cure period or is otherwise  waived in
writing by the Holder in whole or in part at the Holder's option.

      2.3 Optional  Redemption  in Cash.  The  Borrower  will have the option of
prepaying this Note in whole or in part ("Optional Redemption") by paying to the
Holder a sum of money (the "Redemption  Amount") equal to (x) if redeemed during
the first year  following  the date of this Note,  one  hundred  twenty  percent
(120%),  (y) if redeemed during the second year following the date of this Note,
one hundred  twenty  percent  (125%) and (z) if  redeemed  during the third year
following the date of this Note,  one hundred  twenty  percent  (130%),  in each
case,  of the  principal  amount of this Note  together  with accrued but unpaid
interest  thereon  and any and all other  sums due,  accrued  or  payable to the
Holder arising under this Note, the Purchase  Agreement or any Related Agreement
outstanding  on the  Redemption  Payment Date (as defined  below).  The Borrower
shall  deliver  to the Holder a written  notice of  redemption  (the  "Notice of
Redemption")  specifying the date for such Optional  Redemption (the "Redemption
Payment Date"), which date shall be ten (10) business days after the date of the
Notice of Redemption (the "Redemption Period"), and the principal amount of this
Note to be redeemed.  A Notice of Redemption shall not be effective with respect
to any  portion  of this Note for which the  Holder  has a pending  election  to
convert  pursuant to Section  3.1, or for  conversions  initiated or made by the
Holder  pursuant  to Section  3.1 during the  Redemption  Period.  The  relevant
Redemption Amount shall be determined as if such Holder's  conversion  elections
had been completed immediately prior to the date of the Notice of Redemption. On
the Redemption Payment Date, the relevant Redemption Amount must be paid in good
funds to the  Holder.  In the  event  the  Borrower  fails  to pay the  relevant
Redemption Amount on the Redemption Payment Date as set forth herein,  then such
Redemption Notice will be null and void.

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                                   ARTICLE III
                                CONVERSION RIGHTS

      3.1. Holder's  Conversion Rights. The Holder shall have the right, but not
the obligation,  to convert all or any portion of the then aggregate outstanding
principal amount of this Note,  together with interest and fees due hereon, into
shares of Common  Stock  subject to the terms and  conditions  set forth in this
Article III. The Holder may exercise such right by delivery to the Borrower of a
written  notice of  conversion  not less than one (1)  business day prior to the
date upon which such  conversion  shall occur.  The shares of Common Stock to be
issued upon such conversion are herein referred to as the "Conversion Shares."

      3.2 Conversion  Limitation.  Notwithstanding  anything contained herein to
the contrary,  the Holder shall not be entitled to convert pursuant to the terms
of this Note an amount that would be convertible  into that number of Conversion
Shares which would exceed the difference between 4.99% of the outstanding shares
of Common  Stock of the  Borrower  and the  number  of  shares  of Common  Stock
beneficially  owned by such Holder or issuable upon exercise of warrants held by
such Holder. For the purposes of the immediately preceding sentence,  beneficial
ownership  shall be determined in accordance  with Section 13(d) of the Exchange
Act and Regulation  13d-3  thereunder.  The Holder may void the Conversion Share
limitation  described  in this  Section  3.2 upon 75 days  prior  notice  to the
Borrower or without any notice requirement upon an Event of Default.

      3.3  Mechanics  of Holder's  Conversion.  (a) In the event that the Holder
elects to convert any amount  outstanding under this Note into Common Stock, the
Holder  shall  give  notice of such  election  by  delivering  an  executed  and
completed notice of conversion (a "Notice of Conversion") to the Borrower, which
Notice of  Conversion  shall  provide a breakdown  in  reasonable  detail of the
Principal Amount, accrued interest and fees being converted.  On each Conversion
Date (as  hereinafter  defined) and in accordance with its Notice of Conversion,
the Holder shall make the appropriate reduction to the Principal Amount, accrued
interest  and fees as entered in its records and shall  provide  written  notice
thereof to the Borrower within two (2) business days after the Conversion  Date.
Each date on which a Notice of  Conversion  is  delivered or  telecopied  to the
Borrower in accordance with the provisions  hereof shall be deemed a "Conversion
Date".  A form of Notice of  Conversion  to be employed by the Holder is annexed
hereto as Exhibit A.

            (b)  Pursuant to the terms of a Notice of  Conversion,  the Borrower
(i) will use its  best  efforts  to issue  instructions  to the  transfer  agent
accompanied by an opinion of counsel,  if so required by the Borrower's transfer
agent,  within one (1)  business  day of the date of the delivery to Borrower of
the Notice of Conversion and (ii) shall cause the transfer agent to transmit the
certificates  representing the Conversion  Shares to the Holder by crediting the
account of the Holder's  designated broker with the Depository Trust Corporation
("DTC") through its Deposit  Withdrawal Agent Commission  ("DWAC") system within
three  (3)  business  days  after  receipt  by the  Borrower  of the  Notice  of
Conversion (the "Delivery  Date"). In the case of the exercise of the conversion
rights set forth herein the  conversion  privilege  shall be deemed to have been
exercised  and the  Conversion  Shares  issuable upon such  conversion  shall be
deemed to have been  issued  upon the date

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<PAGE>

of receipt by the  Borrower  of the Notice of  Conversion.  The Holder  shall be
treated for all  purposes as the record  holder of such shares of Common  Stock,
unless the Holder provides the Borrower written instructions to the contrary.

      3.4 Conversion Mechanics.

            (a) The  number of shares  of  Common  Stock to be issued  upon each
conversion  of this Note shall be  determined  by dividing  that  portion of the
principal and interest and fees to be converted,  if any, by the then applicable
Fixed Conversion Price. In the event of any conversions of outstanding principal
amount under this Note in part  pursuant to this Article III,  such  conversions
shall be  deemed to  constitute  conversions  of  outstanding  principal  amount
applying to Monthly Amounts for the remaining  Repayment Dates in  chronological
order.

            (b) The  Fixed  Conversion  Price and  number  and kind of shares or
other securities to be issued upon conversion is subject to adjustment from time
to time upon the occurrence of certain events, as follows:

                  A. Stock Splits,  Combinations and Dividends. If the shares of
      Common Stock are  subdivided or combined into a greater or smaller  number
      of shares of Common Stock, or if a dividend is paid on the Common Stock or
      any preferred stock issued by the Borrower in shares of Common Stock,  the
      Fixed Conversion Price or the Conversion  Price, as the case may be, shall
      be  proportionately  reduced  in case of  subdivision  of  shares or stock
      dividend  or  proportionately  increased  in the  case of  combination  of
      shares, in each such case by the ratio which the total number of shares of
      Common Stock  outstanding  immediately after such event bears to the total
      number of shares of Common  Stock  outstanding  immediately  prior to such
      event.

                  B. During the period the conversion right exists, the Borrower
      will reserve from its  authorized  and unissued  Common Stock a sufficient
      number of shares to provide for the issuance of Common Stock upon the full
      conversion of this Note. The Borrower represents that upon issuance,  such
      shares will be duly and validly issued, fully paid and non-assessable. The
      Borrower  agrees  that its  issuance  of this Note shall  constitute  full
      authority to its  officers,  agents,  and transfer  agents who are charged
      with the duty of executing and issuing stock  certificates  to execute and
      issue the  necessary  certificates  for  shares of Common  Stock  upon the
      conversion of this Note.

                  C. Share Issuances.  Subject to the provisions of this Section
      3.4,  if the  Borrower  shall  at any  time  prior  to the  conversion  or
      repayment in full of the Principal Amount issue any shares of Common Stock
      or  securities  convertible  into Common  Stock to a person other than the
      Holder (except (i) pursuant to Subsections A or B above;  (ii) pursuant to
      options,  warrants or other obligations to issue shares

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<PAGE>

      outstanding on the date hereof as disclosed to Holder in writing; or (iii)
      pursuant to options that may be issued under any employee  incentive stock
      option and/or any qualified stock option plan adopted by the Borrower) for
      a  consideration  per  share  (the  "Offer  Price")  less  than the  Fixed
      Conversion  Price in effect at the time of such  issuance,  then the Fixed
      Conversion  Price shall be immediately  reset to such lower Offer Price at
      the time of issuance of such securities. For purposes hereof, the issuance
      of any  security  of the  Borrower  convertible  into  or  exercisable  or
      exchangeable  for Common Stock shall result in an  adjustment to the Fixed
      Conversion Price at the time of issuance of such securities.

                  D.  Reclassification,  etc. If the Borrower at any time shall,
      by reclassification or otherwise, change the Common Stock into the same or
      a different number of securities of any class or classes, this Note, as to
      the unpaid Principal Amount and accrued interest thereon, shall thereafter
      be deemed to evidence  the right to  purchase  an adjusted  number of such
      securities  and kind of  securities  as would  have been  issuable  as the
      result of such change with respect to the Common Stock  immediately  prior
      to such reclassification or other change.

      3.5 Issuance of New Note. Upon any partial  conversion of this Note, a new
Note  containing the same date and provisions of this Note shall, at the written
request of the Holder, be issued by the Borrower to the Holder for the principal
balance of this Note and accrued interest which shall not have been converted or
paid.  Subject to the  provisions of Article IV, the Borrower will pay no costs,
fees or any other consideration to the Holder for the production and issuance of
a new Note.

                                   ARTICLE IV
                                EVENTS OF DEFAULT

      4.1 Upon the occurrence and  continuance of an Event of Default beyond any
applicable grace period, the Holder may make all sums of principal, interest and
other fees then remaining unpaid hereon and all other amounts payable  hereunder
immediately due and payable.  In the event of such an  acceleration,  the amount
due and owing to the Holder shall be 125% of the outstanding principal amount of
the Note (plus  accrued  and unpaid  interest  and fees,  if any) (the  "Default
Payment").  If, with  respect to any Event of Default  capable of being cured at
the reasonable  discretion of Holder,  the Borrower cures such Event of Default,
such  Event of  Default  will be deemed to no longer  exist and any  rights  and
remedies of the Holder pertaining to such Event of Default will be of no further
force or effect.  The Default Payment shall be applied first to any fees due and
payable  to Holder  pursuant  to this Note or the  Related  Agreements,  then to
accrued and unpaid  interest due on this Note and then to outstanding  principal
balance of this Note.

            The  occurrence  of  any  of  the  following  events  set  forth  in
subparagraphs (a) through (i), inclusive, is an "Event of Default":

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            (a) Failure to Pay  Principal,  Interest or other Fees. The Borrower
      fails to pay when due any installment of principal, interest or other fees
      hereon in accordance  herewith,  and in any such case,  such failure shall
      continue for a period of three (3) days  following the date upon which any
      such payment was due.

            (b) Breach of Covenant.  The  Borrower  breaches any covenant or any
      other term or  condition  of this Note or the  Purchase  Agreement  in any
      material respect, or the Borrower or any of its Subsidiaries  breaches any
      covenant or any other term or  condition  of any Related  Agreement in any
      material  respect and, in any such case, such breach,  if subject to cure,
      continues for a period of fifteen (15) days after the occurrence thereof.

            (c) Breach of Representations and Warranties.  Any representation or
      warranty made by the Borrower in this Note or the Purchase  Agreement,  or
      by the  Borrower  or any of its  Subsidiaries  in any  Related  Agreement,
      shall, in any such case, be false or misleading in any material respect on
      the date that such representation or warranty was made or deemed made.

            (d)  Receiver or Trustee.  The  Borrower or any of its  Subsidiaries
      shall make an  assignment  for the benefit of  creditors,  or apply for or
      consent  to the  appointment  of a  receiver  or  trustee  for it or for a
      substantial  part of its  property  or  business;  or such a  receiver  or
      trustee shall otherwise be appointed.

            (e)  Judgments.  Any money  judgment,  writ or similar final process
      shall be entered or filed against the Borrower or any of its  Subsidiaries
      or any of  their  respective  property  or  other  assets  for  more  than
      $250,000, and shall remain unvacated, unbonded or unstayed for a period of
      sixty (60) days.

            (f)   Bankruptcy.   Bankruptcy,   insolvency,    reorganization   or
      liquidation   proceedings  or  other   proceedings  or  relief  under  any
      bankruptcy  law or any  law  for  the  relief  of  debtors,  voluntary  or
      involuntary,  shall be instituted by or against the Borrower or any of its
      Subsidiaries  and,  only in the  case  of an  involuntary  case  commenced
      against  the  Borrower  or any of its  Subsidiaries,  the  petition is not
      controverted  within ten (10) days, or is not dismissed  within sixty (60)
      days  after  commencement  of  the  case,  or  the  Company  or any of its
      Subsidiaries shall (i) become insolvent, cease operations, dissolve and/or
      terminate its business existence, (ii) apply for, consent to, or suffer to
      exist the  appointment  of, or the taking of  possession  by, a  receiver,
      custodian, trustee, liquidator or other fiduciary of itself or of all or a
      substantial part of its property,  (iii) make a general assignment for the
      benefit of  creditors or (iv) take any action for the purpose of effecting
      any of the foregoing.

            (g) Stop Trade. An SEC stop trade order or Principal  Market trading

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      suspension of the Common Stock shall be in effect for five (5) consecutive
      days or five (5)  days  during a  period  of ten  (10)  consecutive  days,
      excluding in all cases a suspension of all trading on a Principal  Market,
      provided  that the Borrower  shall not have been able to cure such trading
      suspension  within  thirty  (30) days of the  notice  thereof  or list the
      Common Stock on another  Principal  Market  within sixty (60) days of such
      notice. The "Principal Market" for the Common Stock shall include the NASD
      OTC Bulletin Board, NASDAQ SmallCap Market, NASDAQ National Market System,
      American  Stock  Exchange,  or New York Stock  Exchange  (whichever of the
      foregoing is at the time the principal  trading exchange or market for the
      Common Stock).

            (h)  Failure  to  Deliver  Common  Stock or  Replacement  Note.  The
      Borrower  shall  fail (i) to timely  deliver  Common  Stock to the  Holder
      pursuant  to and in the form  required  by this Note and  Section 9 of the
      Purchase  Agreement,  if such failure to timely deliver Common Stock shall
      not be cured within two (2) business days or (ii) to deliver a replacement
      Note to Holder within seven (7) business days  following the required date
      of such  issuance  pursuant to this Note,  the  Purchase  Agreement or any
      Related Agreement (to the extent required under such agreements).

            (i)  Default  Under  Related  Agreements  or Other  Agreements.  The
      occurrence  and  continuance  of any Event of Default  (as  defined in the
      Purchase  Agreement or any Related  Agreement) or any event of default (or
      similar term) under any other indebtedness,  provided that it shall not be
      an Event of  Default  under  this  Section  4.1(i)  unless  the  aggregate
      outstanding  principal amount of all such other  indebtedness as described
      above is at least $50,000.00.

            (j) Change in  Control.  (i) Any  "Person" or "group" (as such terms
      are defined in Sections  13(d) and 14(d) of the Exchange Act, as in effect
      on the date  hereof) is or becomes the  "beneficial  owner" (as defined in
      Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly,
      of 35% or more on a fully  diluted  basis of the then  outstanding  voting
      equity  interest  of the  Borrower or (ii) the Board of  Directors  of the
      Borrower shall cease to consist of a majority of the Board of Directors of
      the Borrower on the date hereof (or  directors  appointed by a majority of
      the Board of Directors in effect immediately prior to such appointment).

      4.2  Default  Interest  Rate.  Following  the  occurrence  and  during the
continuance of an Event of Default,  the Borrower shall pay additional  interest
on  this  Note in an  amount  equal  to one  percent  (1%)  per  month,  and all
outstanding  obligations  under  this Note,  including  unpaid  interest,  shall
continue  to accrue  such  additional  interest  from the date of such  Event of
Default until the date such Event of Default is cured or waived.

      4.3 Conversion Privileges.  The conversion privileges set forth in Article
III shall remain in full force and effect  immediately  from the date hereof and
until this Note is paid in full.

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<PAGE>

      4.4 Cumulative Remedies. The remedies under this Note shall be cumulative.

                                    ARTICLE V
                                  MISCELLANEOUS

      5.1 Failure or Indulgence  Not Waiver.  No failure or delay on the part of
the Holder  hereof in the exercise of any power,  right or  privilege  hereunder
shall operate as a waiver thereof,  nor shall any single or partial  exercise of
any such power, right or privilege preclude other or further exercise thereof or
of any other  right,  power or  privilege.  All  rights  and  remedies  existing
hereunder  are  cumulative  to, and not  exclusive  of,  any rights or  remedies
otherwise available.

      5.2 Notices.  Any notice herein required or permitted to be given shall be
in writing and shall be deemed  effectively given: (a) upon personal delivery to
the party notified, (b) when sent by confirmed telex or facsimile if sent during
normal  business hours of the recipient,  if not, then on the next business day,
(c) five days after having been sent by  registered  or certified  mail,  return
receipt  requested,  postage  prepaid,  or (d)  one  day  after  deposit  with a
nationally  recognized  overnight  courier,  specifying next day delivery,  with
written  verification  of  receipt.  All  communications  shall  be  sent to the
Borrower  at  the  address  provided  in  the  Purchase  Agreement  executed  in
connection herewith,  with a copy to Pryor Cashman Sherman & Flynn LLP, 410 Park
Avenue, New York, New York 10022,  Attention:  Eric M. Hellige,  Esq., facsimile
number (212) 798-6380 and to the Holder at the address  provided in the Purchase
Agreement  for such  Holder,  with a copy to John E.  Tucker,  Esq.,  825  Third
Avenue,  14th Floor, New York, New York 10022,  facsimile number (212) 541-4434,
or at such other address as the Borrower or the Holder may designate by ten days
advance written notice to the other parties hereto. A Notice of Conversion shall
be deemed given when made to the Borrower pursuant to the Purchase Agreement.

      5.3 Amendment  Provision.  The term "Note" and all reference  thereto,  as
used  throughout  this  instrument,  shall mean this  instrument  as  originally
executed,  or  if  later  amended  or  supplemented,   then  as  so  amended  or
supplemented,  and any  successor  instrument  issued  pursuant  to Section  3.5
hereof, as it may be amended or supplemented.

      5.4  Assignability.  This Note shall be binding  upon the Borrower and its
successors  and  assigns,  and shall  inure to the benefit of the Holder and its
successors and assigns, and may be assigned by the Holder in accordance with the
requirements of the Purchase  Agreement.  This Note shall not be assigned by the
Borrower without the consent of the Holder.

      5.5  Governing  Law.  This Note  shall be  governed  by and  construed  in
accordance with the laws of the State of New York,  without regard to principles
of  conflicts  of laws.  Any action  brought by either  party  against the other
concerning the transactions contemplated by this Agreement shall be brought only
in the state courts of New York or in the federal courts located in the State of
New York.  Both  parties and the  individual  signing this Note on behalf of the
Borrower  agree to submit to the  jurisdiction  of such courts.  The  prevailing
party  shall  be  entitled  to  recover  from the  other  party  its  reasonable
attorney's  fees and  costs.  In the event  that any  provision  of this Note is

                                       9
<PAGE>

invalid or unenforceable  under any applicable statute or rule of law, then such
provision  shall  be  deemed  inoperative  to the  extent  that it may  conflict
therewith  and shall be deemed  modified to conform with such statute or rule of
law. Any such provision which may prove invalid or  unenforceable  under any law
shall not affect the validity or  enforceability  of any other provision of this
Note. Nothing contained herein shall be deemed or operate to preclude the Holder
from  bringing  suit or taking  other legal  action  against the Borrower in any
other  jurisdiction  to  collect on the  Borrower's  obligations  to Holder,  to
realize on any  collateral  or any other  security for such  obligations,  or to
enforce a judgment or other court in favor of the Holder.

      5.6  Maximum  Payments.  Nothing  contained  herein  shall  be  deemed  to
establish  or require  the  payment of a rate of  interest  or other  charges in
excess of the maximum permitted by applicable law. In the event that the rate of
interest  required  to be paid or other  charges  hereunder  exceed the  maximum
permitted by such law, any payments in excess of such maximum  shall be credited
against  amounts  owed by the  Borrower  to the Holder and thus  refunded to the
Borrower.

      5.7  Security  Interest  and  Guarantee.  The  Holder  has been  granted a
security  interest (i) in certain assets of the Borrower and its Subsidiaries as
more fully  described  in the  Master  Security  Agreement  dated as of the date
hereof and (ii)  pursuant  to the Stock  Pledge  Agreement  dated as of the date
hereof.  The  obligations  of the  Borrower  under this Note are  guaranteed  by
certain  Subsidiaries of the Borrower pursuant to the Subsidiary  Guaranty dated
as of the date hereof.

      5.8  Construction.   Each  party   acknowledges  that  its  legal  counsel
participated in the preparation of this Note and, therefore, stipulates that the
rule of construction  that  ambiguities are to be resolved  against the drafting
party shall not be applied in the interpretation of this Note to favor any party
against the other.

      5.9 Cost of  Collection.  If default is made in the  payment of this Note,
the  Borrower  shall pay to Holder  reasonable  costs of  collection,  including
reasonable attorney's fees.

      5.10 Business Day. If any Repayment Date is a Saturday, Sunday or a day on
which  banking  institutions  in New York City are not  required  to be open for
business  (each, a "Legal  Holiday"),  payment of any Monthly Amount due on such
day may be made on the next  succeeding day that is not a Legal Holiday,  and no
interest shall accrue in respect of such payment for the intervening period.

       [Balance of page intentionally left blank; signature page follows.]

                                       10
<PAGE>

      IN WITNESS WHEREOF,  the Borrower has caused this Note to be signed in its
name effective as of this __ day of February, 2005. eLEC COMMUNICATIONS CORP.

                                             By: /s/Paul H. Riss
                                                ----------------------------
                                             Name:  Paul H. Riss
                                                  --------------------------
                                             Title: Chief Executive Officer
                                                   -------------------------

WITNESS:

/s/ Lauri J. Vertrees
-------------------------------

                                       11
<PAGE>

                                    EXHIBIT A

                              NOTICE OF CONVERSION

(To be  executed  by the Holder in order to convert all or part of the Note into
Common Stock

[Name and Address of Holder]

The Undersigned hereby converts $_________ of the principal due on [specify
applicable Repayment Date] under the Convertible Term Note issued by eLEC
COMMUNICATIONS CORP. dated February 8, 2005 by delivery of Shares of Common
Stock of eLEC COMMUNICATIONS CORP. on and subject to the conditions set forth in
Article III of such Note.

1.  Date of Conversion       _______________________

2.  Shares To Be Delivered:  _______________________

                                             By:________________________________
                                             Name:______________________________
                                             Title:_____________________________

                                       12eLEC COMMUNICATIONS CORP. AND CERTAIN OF ITS SUBSIDIARIES
                            MASTER SECURITY AGREEMENT

To:  Laurus Master Fund, Ltd.
     c/o M&C Corporate Services Limited
     P.O. Box 309 GT
     Ugland House
     South Church Street
     George Town
     Grand Cayman, Cayman Islands

Date: February 8, 2005

To Whom It May Concern:

      1. To secure the payment of all Obligations (as hereafter  defined),  eLEC
COMMUNICATIONS CORP., a New York corporation (the "Company"),  each of the other
undersigned  parties  (other than Laurus Master Fund,  Ltd,  "Laurus")) and each
other entity that is required to enter into this Master Security Agreement (each
an "Assignor" and,  collectively,  the "Assignors") hereby assigns and grants to
Laurus a continuing security interest in all of the following property now owned
or at any time hereafter acquired by any Assignor,  or in which any Assignor now
have or at any time in the future may acquire any right,  title or interest (the
"Collateral"):  all  cash,  cash  equivalents,  accounts,  accounts  receivable,
deposit accounts (including, without limitation, the Lockbox Deposit Account (as
hereinafter  defined)),  inventory,  equipment,  goods,  documents,  instruments
(including,  without  limitation,  promissory notes),  contract rights,  general
intangibles (including,  without limitation, payment intangibles and an absolute
right to license on terms no less  favorable  than those current in effect among
our affiliates),  chattel paper,  supporting  obligations,  investment  property
(including,  without  limitation,  all equity  interests owned by any Assignor),
letter-of-credit  rights,  trademarks,   trademark  applications,   tradestyles,
patents,  patent  applications,  copyrights,  copyright  applications  and other
intellectual  property in which any Assignor  now have or hereafter  may acquire
any right,  title or interest,  all proceeds  and products  thereof  (including,
without  limitation,  proceeds of insurance) and all  additions,  accessions and
substitutions thereto or therefore.  In the event any Assignor wishes to finance
the  acquisition  in the ordinary  course of business of any hereafter  acquired
equipment and have obtained a commitment from a financing source to finance such
equipment from an unrelated  third party,  Laurus agrees to release its security
interest on such  hereafter  acquired  equipment so financed by such third party
financing source. Except as otherwise defined herein, all capitalized terms used
herein shall have the meaning  provided  such terms in the  Securities  Purchase
Agreement referred to below.

      2. The term "Obligations" as used herein shall mean and include all debts,
liabilities and obligations  owing by each Assignor to Laurus arising under, out
of, or in connection with: (i) that certain Securities  Purchase Agreement dated
as of the date hereof by and  between  the  Company and Laurus (the  "Securities
Purchase  Agreement")  and  (ii)  the  Related  Agreements  referred  to in  the
Securities  Purchase  Agreement  (the  Securities  Purchase  Agreement  and each

<PAGE>

Related Agreement,  as each may be amended,  modified,  restated or supplemented
from time to time, are collectively referred to herein as the "Documents"),  and
in connection  with any  documents,  instruments  or  agreements  relating to or
executed in  connection  with the  Documents or any  documents,  instruments  or
agreements  referred to therein or otherwise,  and in connection  with any other
indebtedness,  obligations or liabilities of any Assignor to Laurus, whether now
existing or hereafter arising,  direct or indirect,  liquidated or unliquidated,
absolute  or  contingent,  due or not  due and  whether  under,  pursuant  to or
evidenced by a note, agreement, guaranty, instrument or otherwise, in each case,
irrespective of the genuineness,  validity, regularity or enforceability of such
Obligations,  or of any instrument  evidencing any of the  Obligations or of any
collateral  therefor  or of the  existence  or  extent of such  collateral,  and
irrespective of the allowability, allowance or disallowance of any or all of the
Obligations  in any case  commenced by or against any  Assignor  under Title 11,
United States Code, including,  without limitation,  obligations or indebtedness
of each Assignor for post-petition interest,  fees, costs and charges that would
have accrued or been added to the Obligations  but for the  commencement of such
case.

      3. Each Assignor  hereby  jointly and severally  represents,  warrants and
covenants to Laurus that:

            (a) it is a corporation,  partnership or limited liability  company,
      as the case may be, validly existing, in good standing and organized under
      the  respective  laws of its  jurisdiction  of  organization  set forth on
      Schedule A, and each Assignor will provide  Laurus thirty (30) days' prior
      written notice of any change in its jurisdiction of organization;

            (b)  its  legal  name  is  as  set  forth  in  its   Certificate  of
      Incorporation or other organizational  document (as applicable) as amended
      through  the  date  hereof  and as set  forth on  Schedule  A, and it will
      provide Laurus thirty (30) days' prior written notice of any change in its
      legal name;

            (c) its organizational  identification  number (if applicable) is as
      set forth on Schedule A hereto,  and it will  provide  Laurus  thirty (30)
      days'  prior  written  notice of any  change in any of its  organizational
      identification number;

            (d) it is the lawful owner of its  respective  Collateral and it has
      the sole right to grant a security  interest  therein  and will defend the
      Collateral against all claims and demands of all persons and entities;

            (e) it will  keep its  respective  Collateral  free and clear of all
      attachments,  levies, taxes, liens, security interests and encumbrances of
      every kind and nature  ("Encumbrances"),  except (i) Encumbrances securing
      the Obligations,  (ii) Encumbrances for taxes, assessments or governmental
      charges  or levies  not yet due and  payable  or  Encumbrances  for taxes,
      assessments  or  governmental  charges or levies  being  contested in good
      faith and by appropriate proceedings for which adequate reserves have been
      established  to the  extent  required  by  generally  accepted  accounting
      principles, (iii) Encumbrances in respect of property or assets of Company
      or any of its  Subsidiaries  imposed by law,  which were  incurred  in the
      ordinary  course  of  business  and do not  secure  indebtedness,  such as
      carriers',  warehousemen's,  materialmen's  and mechanics'

                                       2
<PAGE>

      liens and other similar Liens arising in the ordinary  course of business,
      (iv)  statutory  and common law  landlords'  Encumbrances  under leases to
      which the Company or any of its  Subsidiaries  is a party,  and (v) to the
      extent said Encumbrance does not secure  indebtedness in excess of $50,000
      and such Encumbrance is removed or otherwise released within ten (10) days
      of the creation thereof;

            (f) it will, at its and the other  Assignors  joint and several cost
      and expense,  keep the  Collateral in good state of repair  (ordinary wear
      and tear  excepted)  and will not  waste or  destroy  the same or any part
      thereof other than ordinary  course  discarding of items no longer used or
      useful in its or such other Assignors' business;

            (g) it  will  not  without  Laurus'  prior  written  consent,  sell,
      exchange,  lease or otherwise dispose of the Collateral,  whether by sale,
      lease or  otherwise,  except  for the sale of  inventory  in the  ordinary
      course of  business  and except for the  disposition  or  transfer  in the
      ordinary  course of  business  during  any  fiscal  year of  obsolete  and
      worn-out equipment or equipment no longer necessary for its ongoing needs,
      having an aggregate  fair market value of not more than  $100,000 and only
      to the extent that:

                  (i) the proceeds of any such  disposition  are used to acquire
            replacement  Collateral  which is subject to Laurus' first  priority
            perfected security interest,  or are used to repay Obligations or to
            pay general corporate expenses; and

                  (ii)  following  the  occurrence  of an Event of Default which
            continues  to exist the  proceeds of which are remitted to Laurus to
            be held as cash collateral for the Obligations;

            (h) it will insure or cause the  Collateral to be insured in Laurus'
      name against loss or damage by fire, theft, burglary,  pilferage,  loss in
      transit and such other hazards in amounts and coverage  consistent  and in
      accordance  with industry  practice under policies by insurers  reasonably
      acceptable  to  Laurus  and all  premiums  thereon  shall  be paid by such
      Assignor and the policies  delivered to Laurus. If any such Assignor fails
      to do so, Laurus may procure such  insurance and the cost thereof shall be
      promptly  reimbursed by the Assignors,  jointly and  severally,  and shall
      constitute Obligations;

            (i) it will at all reasonable  times and upon at least one (1) days'
      prior notice allow  Laurus or Laurus'  representatives  free access to and
      the right of inspection of the Collateral;

            (j) such Assignor  (jointly and severally with each other  Assignor)
      hereby indemnifies and saves Laurus harmless from all loss, costs, damage,
      liability  and/or  expense,  including  reasonable  attorneys'  fees, that
      Laurus may sustain or incur to enforce payment, performance or fulfillment
      of  any of the  Obligations  and/or  in the  enforcement  of  this  Master
      Security  Agreement  or in the  prosecution  or  defense  of any action or
      proceeding  either  against  Laurus or any Assignor  concerning any matter
      growing  out of or in  connection  with this  Master  Security  Agreement,
      and/or any of the Obligations  and/or any of the Collateral  except to the
      extent caused by Laurus' own gross  negligence

                                       3
<PAGE>

      or willful misconduct (as determined by a court of competent  jurisdiction
      in a final and nonappealable decision); and

            (k) On or prior to the 30th day  following  the Closing  Date,  each
      Assignor will (x) irrevocably direct all of its present (to the extent not
      already  directed) and future Account Debtors (as defined below) and other
      persons  obligated to make payments  constituting  Collateral to make such
      payments  directly  to the  lockboxes  maintained  by such  Assignor  (the
      "Lockboxes") and managed by Klik Technologies,  Corp. or such other person
      or service accepted by Laurus in writing as may be selected by the Company
      (the "Lockbox  Service  Provider")  (each such direction  pursuant to this
      clause (x), a "Direction  Notice")  and (y) provide  Laurus with copies of
      each Direction Notice to the extent  requested by Laurus.  Upon receipt of
      such  payments,  the Lockbox  Service  Provider  has agreed to deposit the
      proceeds of such payments in certain  deposit  accounts  maintained at the
      JPMorgan  Chase Bank and  evidenced  by the account  name of New  Rochelle
      Telephone  Corp.  with the account number of 590361414 or the account name
      or Telecarrier Services Inc. with the account number of 590361503, or such
      other deposit account  accepted by Laurus in writing (the "Lockbox Deposit
      Account").  On or prior to the Closing  Date,  the Company shall and shall
      cause the Lockbox  Service  Provider to enter into all such  documentation
      acceptable to Laurus  pursuant to which,  among other things,  the Lockbox
      Service  Provider  agrees  to,  following  notification  by Laurus  (which
      notification  Laurus shall only give  following the  occurrence and during
      the continuance of an Event of Default), comply only with the instructions
      or  other  directions  of  Laurus  concerning  the  Lockbox.  All of  each
      Assignor's  invoices,   account  statements  and  other  written  or  oral
      communications directing, instructing,  demanding or requesting payment of
      any  Account  of any  such  Assignor  or  any  other  amount  constituting
      Collateral  shall  conspicuously  direct that all  payments be made to the
      Lockbox  or such  other  address  as Laurus  may  direct in  writing.  If,
      notwithstanding the instructions to Account Debtors, any Assignor receives
      any payments,  such Assignor shall  immediately remit such payments to the
      Lockbox  Service  Provider  in their  original  form  with  all  necessary
      endorsements.  Until  so  remitted,  the  Assignors  shall  hold  all such
      payments  in  trust  for and as the  property  of  Laurus  and  shall  not
      commingle  such payments with any of its other funds or property.  For the
      purpose of this Master Security  Agreement,  (x) "Accounts" shall mean all
      "accounts",  as such term is defined in the Uniform  Commercial Code as in
      effect in the State of New York on the date hereof, now owned or hereafter
      acquired by any Assignor and (y) "Account Debtor" shall mean any person or
      entity who is or may be  obligated  with  respect to, or on account of, an
      Account.

      4. The  occurrence  of any of the  following  events or  conditions  shall
constitute an "Event of Default" under this Master Security Agreement:

            (a) an Event of  Default  (as  defined in any  Document)  shall have
      occurred and be continuing; and

            (b)  the  loss,  theft,  substantial  damage,  destruction,  sale or
      encumbrance  to or of any of the  Collateral  or the  making  of any levy,
      seizure or attachment thereof or thereon except to the extent:

                                       4
<PAGE>

                  (i) such loss is covered by insurance  proceeds which are used
            to replace the item or repay Laurus; or

                  (ii)  said  levy,   seizure  or  attachment  does  not  secure
            indebtedness  in  excess  of  $100,000  and such  levy,  seizure  or
            attachment  has been removed or otherwise  released  within ten (10)
            days of the creation or the assertion thereof.

      5. Upon the occurrence of any Event of Default and at any time thereafter,
Laurus may declare all Obligations  immediately due and payable and Laurus shall
have the remedies of a secured party provided in the Uniform  Commercial Code as
in effect in the State of New York,  this  Agreement and other  applicable  law.
Upon the occurrence of any Event of Default and at any time  thereafter,  Laurus
will have the right to take  possession of the  Collateral  and to maintain such
possession  on its premises or to remove the  Collateral  or any part thereof to
such other  premises as Laurus may desire.  Upon  Laurus'  request,  each of the
Assignors  shall  assemble or cause the  Collateral  to be assembled and make it
available  to  Laurus  at a  place  reasonably  designated  by  Laurus.  If  any
notification of intended  disposition of any Collateral is required by law, such
notification, if mailed, shall be deemed properly and reasonably given if mailed
at least ten (10)  business  days  before  such  disposition,  postage  prepaid,
addressed to any Assignor either at such  Assignor's  address shown herein or at
any address appearing on Laurus' records for such Assignor.  Any proceeds of any
disposition of any of the  Collateral  shall be applied by Laurus to the payment
of all  expenses  in  connection  with  the  sale of the  Collateral,  including
reasonable  attorneys' fees and other legal expenses and  disbursements  and the
reasonable expense of retaking,  holding,  preparing for sale, selling,  and the
like,  and any  balance of such  proceeds  may be  applied by Laurus  toward the
payment of the Obligations in such order of application as Laurus may elect, and
each Assignor  shall be liable for any  deficiency.  For the avoidance of doubt,
following  the  occurrence  and during the  continuance  of an Event of Default,
Laurus shall have the immediate  right to withdraw any and all monies  contained
in any deposit accounts in the name of the Assignor and controlled by Laurus and
apply same to the repayment of the  Obligations (in such order of application as
Laurus may elect).

      6. If any Assignor  defaults in the  performance  or fulfillment of any of
the terms,  conditions,  promises,  covenants,  provisions or warranties on such
Assignor's  part to be performed  or fulfilled  under or pursuant to this Master
Security  Agreement,  Laurus  may,  at its option  without  waiving its right to
enforce this Master Security Agreement according to its terms, immediately or at
any time  thereafter and without notice to any Assignor,  perform or fulfill the
same or cause the  performance or  fulfillment  of the same for each  Assignor's
joint and several  account  and at each  Assignor's  joint and several  cost and
expense, and the cost and expense thereof (including reasonable attorneys' fees)
shall be added to the  Obligations  and shall be payable on demand with interest
thereon at the highest rate  permitted by law, or, at Laurus'  option during the
continuance of an Event of Default,  debited by Laurus from any deposit accounts
in the name of the Assignor and controlled by Laurus.

      7. Each Assignor appoints Laurus,  any of Laurus'  officers,  employees or
any other person or entity whom Laurus may designate as its attorney, with power
to execute such  documents on such  Assignor's  behalf and to supply any omitted
information and correct patent errors in any documents executed by such Assignor
or on such Assignor's behalf; to file financing statements against such Assignor
covering  the  Collateral  (and,  in  connection  with  the  filing  of any such
financing  statements,  describe the  Collateral as "all assets and all personal

                                       5
<PAGE>

property,  whether now owned and/or  hereafter  acquired" (or any  substantially
similar variation thereof)); to sign such Assignor's name on public records; and
to do all other things Laurus deem  necessary to carry out this Master  Security
Agreement.  Each Assignor  hereby ratifies and approves all acts of the attorney
and neither Laurus nor the attorney will be liable for any acts of commission or
omission,  nor for any error of  judgment  or  mistake of fact or law other than
gross  negligence or willful  misconduct  (as determined by a court of competent
jurisdiction in a final and non-appealable  decision).  This power being coupled
with an interest, is irrevocable so long as any Obligations remains unpaid.

      8. No delay or failure on Laurus' part in exercising any right,  privilege
or option  hereunder  shall  operate as a waiver of such or of any other  right,
privilege,  remedy or option,  and no waiver  whatever  shall be valid unless in
writing,  signed by Laurus and then only to the extent therein set forth, and no
waiver by Laurus of any default  shall  operate as a waiver of any other default
or of  the  same  default  on a  future  occasion.  Laurus'  books  and  records
containing  entries  with  respect to the  Obligations  shall be  admissible  in
evidence in any action or  proceeding,  shall be binding upon each  Assignor for
the purpose of establishing  the items therein set forth (absent manifest error)
and shall constitute  prima facie proof thereof.  Laurus shall have the right to
enforce  any one or more of the  remedies  available  to  Laurus,  successively,
alternately  or  concurrently.  Each  Assignor  agrees  to join  with  Laurus in
executing  financing  statements or other  instruments to the extent required by
the Uniform Commercial Code in form satisfactory to Laurus and in executing such
other documents or instruments as may be required or reasonably deemed necessary
by Laurus for purposes of affecting or continuing  Laurus' security  interest in
the Collateral.

      9. This Master  Security  Agreement  shall be governed by and construed in
accordance  with the laws of the  State of New  York and  cannot  be  terminated
orally. All of the rights, remedies,  options, privileges and elections given to
Laurus  hereunder shall inure to the benefit of Laurus'  successors and assigns.
All of the terms, conditions,  promises, covenants, provisions and warranties of
this Agreement shall inure to the benefit of Laurus, any parent of Laurus',  any
of Laurus'  subsidiaries and any co-subsidiaries of Laurus' parent,  whether now
existing or hereafter created or acquired,  and shall bind the  representatives,
successors  and assigns of each  Assignor.  Laurus and each Assignor  hereby (a)
waive  any and all  right  to  trial  by jury  in  litigation  relating  to this
Agreement and the transactions  contemplated hereby and each Assignor agrees not
to assert any  counterclaim in such  litigation,  (b) submit to the nonexclusive
jurisdiction  of any New York State court  sitting in the borough of  Manhattan,
the city of New York and (c) waive any  objection  Laurus or each  Assignor  may
have as to the bringing or maintaining of such action with any such court.

                                       6
<PAGE>

      10. It is understood  and agreed that any person or entity that desires to
become an Assignor  hereunder,  or is required to execute a counterpart  of this
Master Security  Agreement after the date hereof pursuant to the requirements of
any  Document,  shall become an Assignor  hereunder  by (x)  executing a Joinder
Agreement  in  form  and  substance  reasonably   satisfactory  to  Laurus,  (y)
delivering  supplements to such exhibits and annexes to such Documents as Laurus
shall  reasonably  request  and (z) taking  all  actions  as  specified  in this
Agreement  as would have been  taken by such  Assignor  had it been an  original
party to this  Agreement,  in each case with all documents  required above to be
delivered  to Laurus and with all  documents  and actions  required  above to be
taken to the reasonable satisfaction of Laurus.

      11. All notices from Laurus to any Assignor shall be sufficiently given if
mailed or delivered to such Assignor's  address set forth below,  with a copy to
Pryor Cashman  Sherman & Flynn LLP, 410 Park Avenue,  New York,  New York 10022,
Attention: Eric M. Hellige, Esq.

                                          Very truly yours,

                                          eLEC COMMUNICATIONS CORP.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name:  Paul H. Riss
                                          Title: Chief Executive Officer
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                          NEW ROCHELLE TELEPHONE CORP.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name: Paul H. Riss
                                          Title: President
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                          TELECARRIER SERVICES, INC.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name: Paul H. Riss
                                          Title: President
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                       7
<PAGE>

                                          VOX COMMUNICATIONS CORP.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name: Paul H. Riss
                                          Title:Chief Executive Officer
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                          AVI HOLDING CORP.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name: Paul H. Riss
                                          Title: President
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                          TELCOSOFTWARE.COM CORP.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name: Paul H. Riss
                                          Title:President
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                          LINE ONE, INC.

                                          By: /s/ Paul H. Riss
                                              ----------------------------------
                                          Name: Paul H. Riss
                                          Title: President
                                          Address: 75 South Broadway, Suite 302,
                                          White Plains, NY 10602
                                          Facsimile: 914-682-0820

                                       8
<PAGE>

                                          ACKNOWLEDGED:

                                          LAURUS MASTER FUND, LTD.

                                          By:/s/ Eugene Grin
                                             -----------------------------------
                                          Name: Eugene Grin
                                          Title: Director

                                       9
<PAGE>

                                   SCHEDULE A

--------------------------------------------------------------------------------
                          Jurisdiction of              Organization
          Entity           Organization           Identification Number
--------------------------------------------------------------------------------
       [Assignors]
--------------------------------------------------------------------------------

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

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

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

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

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

[COMPANY TO COMPLETE]

                                       10

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