Document:

EXHIBIT 10.16

                                    ADDENDUM

On the seventh (7th) day of February, 2000 an employment agreement was entered
into by and between MegaMedia Networks, Inc., ("the Company"), and Steve H.
Noble, III, ("the Executive").

                                     RECITAL

Whereas, the Company for good and sufficient business reasons has requested a
deferral of certain compensation set forth in section four of the Executive's
agreement with Mega Media Networks, Inc. for a period of four months and the
Executive has agreed to such deferral. The parties agree to amend said section
as follows:

         1.       Executive compensation commencing on June 9, 2000 and
                  continuing for a period of seventeen weeks concluding on
                  Friday October 6, 2000 (Deferral Term) shall be reduced by
                  twenty percent (20%). The total of this deferred amount shall
                  not exceed $9,480.77 calculated as: $145,000 salary/ 52 weeks
                  annually =$2,788.46 * 17 weeks = $47,403.85 * 20% = $9,480.77.
                  Such reduction shall be taken as $557.69 per week for the
                  Deferral Term.

             a.   At the end of the Deferral Term the Company will compensate
                  the Executive for the aforesaid monetary reduction of wages
                  during the Deferral Term in one of two methods selected at the
                  Executive's discretion as follows:

                        i.    Payment of the deferred amount in a lump sum to
                              the Executive on Monday October 9; or

                        ii.   Payment of the deferred amount by issuing shares
                              of Company common stock in the exact amount of the
                              deferred salary at a unit price of $1.00 per
                              share.

             b.   One month of salary shall be placed within 10 business days of
                  execution of this Addendum in an escrow account in the name of
                  the Executive to provide for security in the case Company
                  failure. This amount shall be payable to the Executive on
                  demand upon failure of the Company to meet on a timely basis
                  its salary payment obligation to the Executive prior to his
                  Termination under Section 9 of the Employment Agreement.

         2.       In consideration of this agreement the Company agrees to
                  cancel the Stock Options granted in Exhibit A and replace the
                  shares contemplated therein with granted shares under the
                  following terms:

             a.   Upon execution of this Agreement and payment by Executive of
                  an aggregate purchase price of One Thousand Five Hundred
                  dollars ($1,500.00), Executive shall be issued 150,000 shares
                  of the Company's common stock, $0.01 par value, in his name,
                  to

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                  be held by an Escrow Agent, as provided in the Escrow
                  Agreement of even date herewith, as set forth in Exhibit A,
                  which shares may not be sold, exchanged, transferred, pledged,
                  hypothecated, or otherwise disposed of and are subject to
                  forfeiture as described below ("Escrow Stock"). If Executive
                  voluntarily terminates his employment or his employment is
                  terminated "for cause" (as defined in paragraph 9D), prior to
                  the occurrence of the earliest event specified in subsections
                  (a) through (f) below, Executive shall forfeit all right,
                  title and interest to the Escrow Stock. Otherwise, complete
                  ownership, subject to restrictions set forth in the Securities
                  Act of 1933 as amended, and the rules and regulations
                  promulgated from time to time by the Securities and Exchange
                  Commission, in all of the Escrow Stock shall be delivered to
                  Executive promptly on the earliest to occur of the following:

             b.   February 5, 2001;

             c.   Executive's death;

             d.   Executive's permanent disability as defined in paragraph 9B;

             e.   Termination of the Executive's employment by the Company
                  without cause as defined in paragraph 9D;

             f.   Termination by the Executive of his employment as a result of
                  Constructive Discharge as defined in paragraph 9C;

             g.   A "change in control" of the Company which shall be defined as
                  (i) a sale, purchase, merger or other business combination
                  which results in transfer to a third party of an ownership
                  interest of greater that 50% of the company or any successor
                  entity to the Company, (ii) a sale or other disposition of all
                  or substantially all of the Company's assets, or (iii)
                  election by the shareholders of the Company of persons to
                  serve as directors of the Company, comprising more that
                  one-half (1/2) the total number of directors, persons who were
                  not nominated or recommended to the shareholders for election
                  as directors by the Board's nominating committee.

                  Provided that Executive has not voluntarily terminated his
                  employment or his employment has not been terminated "for
                  cause" (as defined in paragraph 9D), prior to the occurrence
                  of the earliest event specified in subsections (a) through (f)
                  above, upon the occurrence of the earliest event specified in
                  subsections (a) through (f) above, the Company shall instruct
                  its Escrow Agent to deliver a certificate or certificates in
                  Executive's name

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                  for the 150,00 shares of the Company's common stock, $0.01 par
                  value, to Executive.

         3.       The following modifies, replaces and supercedes the Stock
                  Option Agreement vesting February 6, 2001:

                                ESCROW AGREEMENT
                                   EXHIBIT A

         THIS ESCROW AGREEMENT (the "Escrow Agreement") is dated as of February
6, 2000, by and among MegaMedia Networks, Inc., (the "Company"), Steven H. Noble
III (the "Executive"), and Christopher P. Flannery, an attorney who practices
law in the Commonwealth of Pennsylvania, as Escrow Agent (the "Escrow Agent").

         WHEREAS, the Stockholders of the Company have transferred shares of
common stock of the Company (the "Shares") to the Escrow Agent to support stock
rights granted or to be granted to current or new employees, including Steven H.
Noble III as the Company's Chief Financial Officer utilizing an escrow
arrangement as described in this Escrow Agreement; and,

         WHEREAS, the terms and conditions of Executive's employment with the
Company are set forth in an employment agreement between them, dated as of
February 6, 2000, (the "Employment Agreement"), attached as described in this
Escrow Agreement; and,

         WHEREAS, the Escrow Agent is willing to act hereunder on the terms and
conditions set forth herein;

         NOW, THEREFORE, in consideration of the mutual covenants and
obligations set forth below, and intending to be legally bound, the parties
hereto hereby agree as follows:

         1.       ESCROW ACCOUNT

         1.1      DEPOSIT. The Stockholders have delivered the Shares to the
                  Escrow Agent along with blank stock powers with Medallion
                  guaranteed signatures (the "Escrow") to be held by the Escrow
                  Agent in a separate account (the "Escrow Account") subject to
                  the terms and provisions of this Escrow Agreement. The Shares
                  in the Escrow Account will be used to support stock rights
                  granted or to be granted to the Company's executives.

         1.2      TRANSFER TO EXECUTIVE. Upon execution of the Employment
                  Agreement between Executive and the Company and payment to the
                  Escrow Agent of One Thousand and Five Hundred Dollars
                  ($1,500.00), 150,000 of the shares in the Escrow Account shall
                  be transferred on the books of the Company to Executive and a
                  certificate for those 150,000 shares shall be issued in
                  Executive's name. Executive shall thereupon be a stockholder
                  in the Company with respect to those shares and shall have the
                  rights of a stockholder with respect to all such shares,
                  including the rights to vote such shares and to receive any
                  dividend or other distributions paid with respect to such
                  shares, but shall not be able to sell,

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                  exchange, transfer, pledge, hypothecate or otherwise dispose
                  of the shares until the conditions specified in paragraph
                  4(B)(i) of the Employment Agreement have been met.

         1.3      STOCK POWER. In aid of the restrictions on transfer of the
                  Shares, Executive's execution of the Employment Agreement
                  shall acknowledge his agreement to have the certificate
                  evidencing his shares held by Escrow Agent as security for
                  Executive's performance of the Employment Agreement until the
                  conditions specified in paragraph 4(B)(i) of the Employment
                  Agreement have been met. Executive shall also execute a stock
                  power agreement with a Medallion guaranteed signature, endorse
                  in blank, a copy of which is attached hereto as Attachment A,
                  and deposit it with the Escrow Agent until the conditions in
                  paragraph 4(B)(i) have been met or until the shares are
                  forfeited a specified in the Employment Agreement.

         2.       DISBURSEMENT OF ESCROW.

         2.1      DELIVERY OF ESCROW STOCK TO EXECUTIVE. Provided that Executive
                  has not voluntarily terminated his employment or employment
                  has not been terminated "for cause" (as defined in paragraph
                  9D of the Employment Agreement) prior to the occurrence of the
                  earliest event specified in paragraphs 4(b)(i)(a) through (f)
                  of the Employment Agreement, upon the occurrence of the
                  earliest event specified in the paragraph 4(b)(i)(a) through
                  (f), of the Employment Agreement the Escrow Agent shall
                  promptly deliver to Executive, both the certificate or
                  certificates held by him in Executive's name and the executed
                  stock power agreement.

         2.2      CANCELLATION OF ESCROW STOCK. In the event Executive has
                  voluntarily terminated his employment or his employment has
                  been terminated "for cause" (as defined in paragraph 9D of the
                  Employment Agreement) prior to the occurrence of the earliest
                  event specified in paragraphs 4(b)(i)(a) through (f) of the
                  Employment Agreement, Escrow Agent is authorized and directed
                  to send the executed stock power agreement with Medallion
                  guaranteed signature, endorsed in blank, together with the
                  stock certificate or certificates evidencing ownership of the
                  150,000 shares of the Company's common stock, $0.01 par value,
                  held by Escrow Agent in Executive's name to the Transfer Agent
                  and to direct the Transfer Agent to cancel the Escrow Stock.

         2.3      CONTROVERSIES. If any controversy arises between two or more
                  of the parties, or between any of the parties and any person
                  not a party, as to whether or not or to whom the Escrow Agent
                  shall deliver the Escrow or any portion thereof or as to any
                  other matter arising out of or relating to this Escrow
                  Agreement, the Escrow Agent shall not be required to determine
                  the same and need not make any delivery of the Escrow
                  concerned or any portion thereof but may retain the same until
                  the rights of the parities to the dispute shall have been
                  finally determined by agreement or by final judgment of a
                  court of competent jurisdiction after all appeals have been
                  finally determined (or the time for further appeals has
                  expired without an appeal having been made). The Escrow Agent
                  shall deliver that portion of the Escrow concerned covered by
                  such agreement or final order within

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                  five (5) days after the Escrow Agent receives a copy thereof.
                  The Escrow Agent shall assume that no such controversy has
                  arisen unless and until it receives written notice from the
                  Company or the Executive that such controversy has arisen,
                  which refers specifically to this Agreement and identifies the
                  adverse claimants to the controversy.

         2.4      NO OTHER DISBURSEMENTS. No portion of the Escrow shall be
                  disbursed or otherwise transferred except in accordance with
                  this Escrow Agreement.

         3.       ESCROW AGRENT. The acceptance by the Escrow Agent of his
                  duties hereunder is subject to the following terms and
                  conditions, which the parties to this Agreement hereby agree
                  shall govern and control with respect to the rights, duties,
                  liabilities and immunities of the Escrow Agent:

         3.1      The Escrow Agent shall not be responsible or liable in any
                  manner whatever for the sufficiency, correctness, genuineness
                  or validity of any property deposited with or held by him.

         3.2      The Escrow Agent shall be protected in acting upon any written
                  notice, certificate, instruction, request or other paper or
                  document believed by him to genuine and to have been signed or
                  presented by the proper party or parties.

         3.3      The Escrow Agent shall not be liable for any act done
                  hereunder except in the case of its willful misconduct or bad
                  faith.

         3.4      The Escrow Agent shall not be obligated or permitted to
                  investigate the correctness or accuracy of any document or to
                  determine whether or not the signatures contained in said
                  documents are genuine or to require documentation or evidence
                  substantiating any such document or signature.

         3.5      The Escrow Agent shall have no duties as Escrow Agent except
                  those which are expressly set forth herein, and in any
                  modification or amendment hereof; provided, however, that no
                  such modification or amendment hereof shall affect its duties
                  unless it shall have given its written consent thereto. The
                  Escrow Agent shall not be prohibited from owning an equity
                  interest in the Company or any third party that is in any way
                  affiliated with or conduct business with the Company.

         3.6      The company and the Executive acknowledge that the Escrow
                  Agent is practicing attorney and may have worked with the
                  Company, the Stockholders, the Executive or affiliates of them
                  on other unrelated transactions, and that they and each of
                  them has specifically requested that the Escrow Agent draft
                  the documents for this transaction and act as Escrow Agent.
                  Each party represents that the Escrow Agent draft the
                  documents for this transaction and act as Escrow Agent. Each
                  party represents that it has retained legal and other counsel
                  of its choosing with respect to the transactions contemplated
                  herein and is satisfied in its sole discretion with the form
                  and content of the documentation drafted by the Escrow Agent.
                  The parties hereby waive any objection to the Escrow Agent so
                  acting based upon conflict of interest or lack of
                  impartiality. The Escrow Agent

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                  agrees to act impartially and in accordance with the terms of
                  this Agreement and with the parties' respective instructions,
                  so long as they are not in conflict with the terms of this
                  Escrow Agreement.

         4.       TERMINATION. This Agreement shall terminate on the earlier of
                  (a) the date on which the certificate or certificates for the
                  150,000 shares shall have been transferred to Executive, or
                  (b) the next business day after the expiration of Executive's
                  stock rights under paragraph 4B(i) of the Employment
                  Agreement.

         5.       MISCELLANEOUS.

         5.1      INDEMNIFICATION OF ESCROW AGENT.

         (a)      The Company and the Executive each agree, jointly and
                  severally, to indemnify the Escrow Agent for, and to hold him
                  harmless against, any loss incurred without willful misconduct
                  or bad faith on the Escrow Agent's part, arising out of or in
                  connection with the administration of this Agreement,
                  including the cost and expenses of defending himself against
                  any claim or liability in connection with the exercise or
                  performance of any of its powers or duties hereunder. The
                  indemnification shall not apply to a party with respect to a
                  direct claim against the Escrow Agent by such party alleging
                  in good faith a breach of this Escrow Agreement by the Escrow
                  Agent, which claim result in a final non-appealable judgment
                  against the Escrow Agent with respect to such claim.

         (b)      In the event of any dispute as to the nature of the rights or
                  obligations of the Executive, the Company or the Escrow Agent
                  hereunder, the Escrow Agent may at any time or from time to
                  time interplead, deposit and/or pay all or any part of the
                  Escrow Account with or to a court of competent jurisdiction
                  sitting in Philadelphia, Pennsylvania or in any appropriate
                  federal court, in accordance with the procedural rules
                  thereof. The Escrow Agent shall give notice of such action to
                  the Company and the Executive. Upon such interpleader, deposit
                  or payment, the Escrow Agent shall immediately and
                  automatically be relieved and discharged from all further
                  obligations and responsibilities hereunder, including the
                  decision to interplead, deposit or pay such funds.

         5.2      AMENDMENTS. This Escrow Agreement may be modified or amended
                  only by a written instrument executed by each of the parties
                  hereto.

         5.3      NOTICES. All communications required to be given under this
                  agreement to any party shall be sent by first class mail or
                  facsimile to such party at the address listed below or such
                  other addresses as shall be specified by the parties by like
                  notice.

         5.4      SUCCESSORS AND ASSIGNS. This Escrow Agreement shall bind and
                  inure to the benefit of the parties hereto and their
                  respective successors and assigns; provided, however that the
                  Escrow Agent shall not assign its duties under this Escrow
                  Agreement.

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<PAGE>

         5.5      GOVERNING LAW. This Escrow Agreement shall be governed by and
                  construed and interpreted in accordance with the laws of the
                  Commonwealth of Pennsylvania.

         5.6      COUNTERPARTS. This Escrow Agreement may be executed in two or
                  more counterparts, each of which shall be an original, and all
                  of which together shall constitute one and the same agreement.

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

-------------------------------              -----------------------------------
Executive - Steven H. Noble III              MegaMedia Networks, Inc.,
                                             By William A. Mobley, Jr., Chairman

ESCROW AGENT:

-------------------------------
Christopher P. Flannery, Esq.
Astor Weiss, Kaplan, Watters & Strong, LLP
The Belleveue, 6th Floor
Broad Street at Walnut
Philadelphia, PA 19103

<PAGE>

         4.       All other provisions of the Employment Agreement executed by
                  and between the parties on the 7th day of February, 2000 shall
                  remain in full force and effect and the rights and
                  responsibilities and duties of the parties to that Employment
                  Agreement and the covenants and agreements contained therein
                  shall continue to bind the signatories and shall continue in
                  full force and effect pursuant to that agreement until the
                  provisions thereof have been fully performed.

------------------------    ----------------------------          ------------
Witness                     Executive - Steve H. Noble            Date

------------------------    -------------------------------       ------------
Witness                     MegaMedia Networks, Inc.              Date
                            By: William A. Mobley, Jr., PresidentEXHIBIT 10.17

                                    REVOLVING
                                 PROMISSORY NOTE

$150,000.00                                              Orlando, Florida
                                                         As of July 6, 2000

         THIS PROMISSORY NOTE (the "Note") is a duly authorized Note of
MEGAMEDIA NETWORKS, INC., a Delaware corporation (the "Company"), in the
principal sum of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($150,000.00).
"Company" includes any successors or assigns of the Company.

         FOR VALUE RECEIVED, the Company promises to pay THE ORLANDO GROUP
DOWNTOWN LLC, a Florida limited liability company, at 100 S. Orange Avenue,
Suite 1000, Orlando, Florida 32801, or its assigns (the "Holder"), the principal
sum of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($150,000.00), or so much
thereof as may be advanced and outstanding from time to time (the "Outstanding
Principal Amount") on July 6, 2001 (the "Maturity Date"), and to pay interest
monthly on the Outstanding Principal Amount from time to time at the prime rate
announced by AmSouth Bank less one-half of one percent (0.50%) on the 1st day of
each month.

         Accrual of interest shall commence at that date which the Holder
advances any monies to or on behalf of Company and will continue until the
Company has repaid in full the Outstanding Principal Amount and accrued interest
or this Note is converted in accordance with its terms. The Outstanding
Principal Amount and accrued interest of this Note is payable in such coin or
currency of the United States as at the time of payment is legal tender for
payment of public and private debts, at the address above or as designated in
writing by the Holder from time to time.

         This Note is subject to the following additional provisions:

         1. All payments on account of the Outstanding Principal Amount and
interest of this Note and all other amounts payable under this Note (whether
made by the Company or any other person) to or for the account of the Holder
shall be made free and clear of and without reduction by reason of any present
and future income, stamp, registration and other tax, levies, duties, cost, and
charges whatsoever imposed, assessed, levied or collected by the United States
or any political subdivision or taxing authority thereof or therein, together
with interest thereon and penalties with respect thereto, if any, on or in
respect of this Note (such taxes, levies, duties, costs and charges being herein
collectively called "US Taxes").

         2. The Holder of this Note is entitled, at its option, at any time
after the Company's common stock begins trading on a recognized trading system,
to convert all or any lesser portion of the Outstanding Principal Amount and
interest into shares of common stock of the Company (the "Common Stock") at the
Conversion Price, as defined in Paragraph 3, below (the "Conversion Shares"). In
the event of any stock split, dividend, combination or similar event occurring
after a

<PAGE>

Conversion Date and before the issuance of the respective stock certificates,
the Conversion Price, as defined in Paragraph 3, below, will be subject to
appropriate adjustment. The Holder may convert this Note into Common Stock by
surrendering the Note to be converted to the Company, with the form of
conversion notice attached to the Note as Exhibit "A", executed by the Holder of
the Note. The Holder may elect to convert in whole or in part on multiple
occasions until the Note is paid in full.

         3. The "Conversion Price" shall be that price determined by multiplying
the average closing bid price of the Common Stock on the principal exchange or
trading mechanism on which the Common Stock is traded for the three trading days
before the Company receives a Notice of Conversion (substantially in the form of
Exhibit "A") from the Holder by 80%. The Company will not issue fractional
shares or scrip representing fractions of shares of Common Stock on conversion,
but the number of shares of Common Stock issuable shall be rounded to the
nearest whole share. The date on which a Notice of Conversion is given
("Conversion Date") shall be deemed to be the date on which the Holder notifies
the Company of its intention to so convert by delivery, by facsimile
transmission or otherwise, of a copy of the Notice of Conversion to the Company
at 57 West Pine Street, Orlando, Florida, 32801, Attention: President. This Note
(if and when fully converted), together with original executed copy of the
Notice of Conversion, shall be delivered to the Company within three (3)
business days following the date on which Notice of Conversion is sent as
described above. At the Maturity Date, any unconverted principal amount and
accrued interest thereon shall be paid, at the option of the Holder, in either
(a) cash or (b) Common Stock valued at a price equal to the Conversion Price
determined as if the Note was converted into Common Stock on the Maturity Date.

         4. Upon the Holder's delivery of a Notice of Conversion, properly
completed and duly executed by the Holder, the Company shall issue and, within
five (5) business days after delivery to the Company of the Notice of
Conversion, deliver to or upon the order of the Holder one or more certificates
(the "Certificates"), representing that number of shares of Common Stock into
which the portion of the Note converted is convertible, and if submitted to the
Company (but not fully converted), a Replacement Note in the principal amount
equal to the Outstanding Principal Amount not converted.

         5. 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 amount of the Note to be converted, plus the dollar amount of all
interest that has accrued on that portion of the Note then being converted but
which has not previously been paid, by the Conversion Price.

         6. No provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to the payment of the
principal and interest of this Note at the time, place and rate, and in the coin
or currency herein prescribed. This Note is a direct obligation of the Company.

         7. The Company hereby expressly waives demand and presentment for
payment, notice of nonpayment, protest, notice of dishonor, notice of
acceleration or intent to accelerate, bringing of

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suit and diligence in taking any action to collect amounts called for hereunder
and shall be directly and primarily liable for the payment of all sums owing and
to be owing herein, regardless of and without notice, diligence, act or omission
as or with respect to the collection of any amount called for hereunder.

         8. If the Company at any time or from time to time after the date of
this Note makes a dividend or other distribution to holders of Common Stock
payable in securities of the Company, then in each such event provision shall be
made so that the Holder shall receive upon conversion of this Note, in addition
to the number of Conversion Shares receivable, the amount of such other
securities of the Company to which the Holder on the relevant record of payment
date, as applicable, would have been entitled, plus any dividends or other
distributions would have been received with respect to such securities had the
Holder thereafter, during the period from the date of such event to and
including the Conversion Date retained such securities, subject to all other
adjustments called for during such period under this Note with respect to the
rights of the Holder.

         9. If at any time or from time to time after the date of this Note, the
Common Stock issuable upon the conversion of the Note is changed into the same
or different numbers of shares of any class or classes of stock, whether by
recapitalization or otherwise (other than subdivision or combination of shares
of Common Stock or stock dividend or reorganization provided for elsewhere in
this Note or a merger or consolidation, provided for in Paragraph 3), then in
each such event the Holder shall have the right thereafter to convert the Note
into the kind of security receivable in such recapitalization, reclassification
or other change by holders of Common Stock, all subject to further adjustment as
provided herein. In such event, the formulae set forth herein for conversion
shall be equitably adjusted to reflect such change in number of shares or, if
shares of a new class of stock are issued, to reflect the market price of the
class or classes of stock issued in connection with the above described
transaction.

         10. If at any time or from time to time after the date of this Note
there is a capital reorganization of the Common Stock (other than a
recapitalization, subdivision, combination, reclassification, or exchange of
shares provided for elsewhere in this Note) then, as a part of such
reorganization, provision shall be made so that the Holder shall thereafter to
be entitled to receive upon conversion of this Note the number of shares of
stock or other securities or property to which a holder of the number of Shares
deliverable upon conversion would have been entitled on such capital
reorganization. In any such case, appropriate adjustment shall be made in the
application of the provisions of this Note with respect to the rights of the
Holder after the reorganization to the end that the provisions of this Note
shall be applicable after that event and be as nearly equivalent as may be
practicable, including, by way of illustration and not limitation, by equitably
adjusting the formulae set forth herein for conversion and redemption to reflect
the market price of the securities or property issued in connection with the
above described transaction.

         11. If one or more of the "Events of Default" as described in Paragraph
12 shall occur, the Company agrees to pay all costs and expenses, including
reasonable attorney's fees, which may be incurred by the Holder in collecting
any amount due under, or enforcing any terms of, this Note.

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<PAGE>

         12. (a)  "Events of Default" shall mean:

                        (1)   The Company shall default in the timely payment of
                              principal and interest on the Note; or

                        (2)   Any of the representations or warranties made by
                              the Company herein or in the Credit Agreement
                              between the Company and Holder with respect to
                              this Note, or in any certificate or financial or
                              other document heretofore or hereafter furnished
                              by or on behalf of the Company in connection with
                              the execution and delivery of this Note, shall be
                              false or misleading any material respect at the
                              time made; or

                        (3)   The Company shall fail to perform or observe any
                              other covenant, provision, condition, agreement or
                              obligation of the Company under this Note, the
                              Security Agreement, the Credit Agreement, or any
                              other related documents, and such failure shall
                              continue uncured for a period of thirty (30) days
                              after notice from the Holder of such failure; or

                        (4)   The Company shall (i) become insolvent, (ii) admit
                              in writing its inability to pay its debts as they
                              mature; (iii) make an assignment for the benefit
                              of creditors or commence proceedings for its
                              dissolution; or (iv) apply for or consent to the
                              appointment of a trustee, liquidator or receiver
                              for it or for a substantial part of its property
                              or business; or

                        (5)   A trustee, liquidator or receiver shall be
                              appointed for the Company or for a substantial
                              part of its property or business without its
                              consent and shall not be discharged within thirty
                              (30) days after such appointment; or

                        (6)   Any governmental agency or any court of competent
                              jurisdiction at the instance of any governmental
                              agency shall assume custody or control of the
                              whole or any substantial portion of the properties
                              or assets of the Company and shall not be
                              dismissed within thirty (30) days thereafter; or

                        (7)   Any money judgment, writ or warrant of attachment,
                              lien or similar process in excess of Twenty
                              Thousand Dollars ($20,000) in the aggregate shall
                              be entered or filed against the Company or any of
                              its properties or other assets and shall remain
                              unsatisfied, unvacated, unbounded or unstayed for
                              a period of thirty (30) days (unless such

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                              order provided for delayed payment) or in any
                              event later than five (5) days prior to the date
                              of any proposed sale thereunder; or

                        (8)   Bankruptcy, reorganization, insolvency or
                              liquidation proceedings or other proceedings for
                              relief under any bankruptcy law or any law for the
                              relief of debtors shall be instituted by or
                              against the Company and if instituted against the
                              Company, shall not be dismissed, stayed or bonded
                              within sixty (60) days after such institution or
                              the Company shall by any action or answer approve
                              of, consent to, or acquiesce in any such
                              proceedings or admit the material allegations of,
                              or default in answering a petition filed in any
                              such proceeding.

                  (b) If an Event of Default occurs, then, or at any time
thereafter, and in each and in every such case, unless such Event of Default
shall have been waived in writing by the Holder (which waiver shall not be
deemed to be a waiver of any subsequent default), the Holder may consider this
Note immediately due or payable, without presentment, demand, protest or notice
of any kind, all of which are expressly waived, anything herein or in any note
or other instruments contained to the contrary notwithstanding, and the Holder
may immediately demand without expiration of any period of grace, enforce any
and all of the Holder's rights and remedies provided herein or any other rights
or remedies afforded by law.

         13. Notwithstanding anything to the contrary contained herein, each
Notice of Conversion shall contain representations to the effect that (1) the
Holder is an "accredited investor" as such term is defined in Rule 501(a) of
Regulation D promulgated by the SEC under the 1933 Act, and (2) the Conversion
Shares are being acquired for the Holder's own account and not as a nominee for
any other party.

         14. The Company covenants that until it has paid all amounts due under
this Note in full, by conversion or otherwise, unless the Holder or subsequent
Holder waives compliance in writing, the Company shall:

                  (a) give prompt written notice to the Holder of any Event of
Default or of any other matter which has resulted in, or could reasonably be
expected to result in a materially adverse change in its financial condition or
operations;

                  (b) give prompt notice to the Holder of any claim, action or
proceeding which, in the event of any unfavorable outcome, would or could
reasonably be expected to have a material adverse effect on the financial
condition of the Company;

                  (c) at all times reserve and keep available out of its
authorized but unissued Common Stock, for the purpose of effecting the
conversion of this Note into Common Stock, such number of its duly authorized
shares of Common Stock as shall from time to time be sufficient to effect the
conversion of the outstanding principal balance of this Note into Common Stock.

                                       5
<PAGE>

                  (d) upon receipt by the Company of evidence from the Holder
reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Note,

                        (i)   in the case of loss, theft or destruction, upon
                              provision of indemnity reasonably satisfactory to
                              it and/or its transfer agent, or

                        (ii)  in the case of mutilation, upon surrender and
                              cancellation of this Note

then the Company at its expense will execute and deliver to the Holder a new
Note, dated the date of the lost, stolen, destroyed or mutilated Note, and
evidencing the outstanding and unpaid principal amount of the lost, stolen,
destroyed or mutilated Note.

         15. The Holder, by acceptance hereof, acknowledges that this Note is
being acquired for investment and that the Holder will not offer, sell or
otherwise dispose of this Note or the Common Stock issuable upon conversion
hereof except under circumstances which will not result in a violation of the
1933 Act or any applicable state securities laws.

         16. In the case any provision of this Note is held by a court of
competent jurisdiction to be excessive in scope or otherwise invalid or
unenforceable, such provision shall be adjusted rather than voided, if possible,
so that its enforceable to the maximum extent possible, and the validity and
enforceability of the remaining provisions of this Note will not in any way be
affected impaired thereby.

         17. The Note and the Agreement between the Company and the Holder
(including all Exhibits) constitute the full and entire understanding and
agreement between the Company and the Holder with respect to the subject hereof.
Neither this Note nor any of its terms may be amended, waived, discharged or
terminated other than by a written instrument signed by the Company and the
Holder.

         18. This Note shall be governed by and construed in accordance with the
internal laws of the State of Florida.

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed by a duly authorized officer, as of the date first written above.

                                   MEGAMEDIA NETWORKS, INC.

                                   By:__________________________________
                                      David Gust, Chief Executive Officer

                                       6
<PAGE>

                                    EXHIBIT A

                              NOTICE OF CONVERSION

     (To Be Executed by the Registered Holder in Order to Convert the Note.)

         The undersigned hereby irrevocably elects to convert $_____________ of
the Revolving Promissory Note Due July 6, 2001 and all interest accrued on that
principal amount, into shares of Common Stock of MegaMedia Networks, Inc. or its
successors (the "Company"), according to the terms and conditions set forth in
such Note, as of the date written below. If securities are to be issued to a
person other than the Undersigned, the Undersigned agrees to pay all applicable
transfer taxes with respect thereto.

         The undersigned represents that it, as of this date, is an "accredited
investor" as such term is defined in Rule 501(a) of Regulation D promulgated by
the SEC under the 1933 Act.

         The undersigned also represents that the Conversion Shares are being
acquired for the Holder's own account and not as a nominee for any other party.

         The undersigned represents and warrants that all offers and sales by
the undersigned of the Conversion Shares shall be made pursuant to an exemption
from registration under the 1933 Act.

CONVERSION DATE:___________________

APPLICABLE CONVERSION PRICE:____________________

HOLDER (PRINT TRUE LEGAL NAME & ADDRESS):__________________________

_______________________________________________________________________

                                       _____________________________
                                       (Signature of Duly Authorized
                                        Representative of Holder)

ADDRESS OF HOLDER:         ______________________________________

                           ______________________________________

                           ______________________________________

* This original Notice of Conversion must be received by the Company by the
second business day following the Conversion Date.

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