Document:

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                                                                   EXHIBIT 10.23

                                  EXHIBIT 2(A)

                                  FORM OF NOTE

                                   [attached]
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         THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE TRANSFERRED
         UNLESS THE COMPANY HAS RECEIVED A WRITTEN OPINION FROM COUNSEL IN FORM
         AND SUBSTANCE SATISFACTORY TO THE COMPANY STATING THAT SUCH TRANSFER IS
         BEING MADE IN COMPLIANCE WITH ALL APPLICABLE FEDERAL AND STATE
         SECURITIES LAWS.

                      HORIZON PERSONAL COMMUNICATIONS, INC.

                     13% SENIOR SUBORDINATED PROMISSORY NOTE
                              DUE FEBRUARY 14, 2001

$13,000,000                                            Charlotte, North Carolina
                                                               February 15, 2000

         FOR VALUE RECEIVED, the undersigned, HORIZON PERSONAL COMMUNICATIONS,
INC., an Ohio corporation (the "Company"), promises to pay to the order of FIRST
UNION INVESTORS, INC., a North Carolina corporation, or its registered assigns
(the "Holder"), the principal sum of Thirteen Million and No/100 Dollars
($13,000,000) on February 14, 2001, with interest thereon from time to time as
provided herein.

         1.       BRIDGE NOTE PURCHASE AGREEMENT; CONVERSION AGREEMENT. This
senior subordinated promissory note (this "Note") is the Note issued pursuant to
the Bridge Note Purchase Agreement, dated as of the date hereof (as the same may
be amended, supplemented or otherwise modified from time to time, the "Purchase
Agreement"), between the Company and the purchaser named therein, and the Holder
is subject to the terms and entitled to the benefits of this Note, the Purchase
Agreement and the Conversion Agreement and may enforce the agreements of the
Company contained herein and therein and exercise the remedies provided for
hereby and thereby or otherwise available in respect hereto and thereto.
Capitalized terms used herein without definition have the meanings assigned
thereto in the Purchase Agreement.

         2.       INTEREST. Subject to the terms and conditions hereof, the
Company promises to pay interest on the principal amount of this Note at the
rate of 13% per annum, payable quarterly in arrears on May 15, 2000, August 15,
2000, November 15, 2000, and February 14, 2001 (each date upon which interest
shall be so payable, an "Interest Payment Date"), beginning on May 15, 2000.
Interest on this Note shall accrue from the date of issuance until repayment of
the principal and payment of all accrued interest and premium in full, shall be
computed on the basis of a 364-day year and shall be paid, at the Company's
option, by (i) wire transfer of immediately available funds to an account
designated by the Holder or (ii) the issuance of additional Notes of like tenor
to the Holder in the amount of interest payable on such date in substantially
the form attached hereto.

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Notwithstanding the foregoing provisions of this Section 2, but subject to
applicable law, upon the occurrence and during the continuance of an Event of
Default, the principal of and overdue interest on this Note shall bear interest,
at the election of the Holder, from the date of the occurrence of such Event of
Default until such Event of Default is cured or waived, payable on demand in
immediately available funds, at the rate of 15% per annum.

                  3.       OPTIONAL PREPAYMENT.

                  (a)      Subject to Section 6 and the terms of the Conversion
         Agreement, upon notice given to the Holder as provided in Section 3(b),
         the Company, at its option, may at any time prepay all or any portion
         of this Note, by paying an amount equal to the outstanding principal
         amount of this Note, or the portion of this Note called for prepayment,
         together with interest accrued and unpaid thereon to the date fixed for
         prepayment, and all other amounts due under this Note and the Purchase
         Agreement.

                  (b)      Subject to Section 6 and the terms of the Conversion
         Agreement, the Company shall give written notice of prepayment of this
         Note or any portion thereof pursuant to Section 3(a) not less than 10
         nor more than 20 days prior to the date fixed for such prepayment. Upon
         the giving of notice of prepayment by the Company, the Company
         covenants and agrees that it will prepay, on the date therein fixed for
         prepayment, this Note or the portion hereof so called for prepayment,
         by paying an amount equal to the outstanding principal amount hereof or
         the portion hereof so called for prepayment together with interest
         accrued and unpaid thereon to the date fixed for such prepayment, and
         all other amounts due under this Note and the Purchase Agreement.

                  (c)      Subject to Section 6 and the terms of the Conversion
         Agreement, all optional prepayments under Section 3 of this Note shall
         be applied first to all costs, expenses, indemnities and other amounts
         payable hereunder and under the Purchase Agreement, then to payment of
         default interest, if any, then to payment of accrued interest and
         thereafter to payment of principal in the pro rata order of the
         scheduled maturities thereof.

         4.       MANDATORY PREPAYMENTS.

                  (a)      Subject to Section 6 and the terms of the Conversion
         Agreement, if, at any time while this Note is outstanding, any of the
         following events occurs (each such event, a "Mandatory Prepayment
         Event"), then, at the option of the Holder, the Company shall make a
         mandatory prepayment of this Note in whole or in part at the time of
         such Mandatory Prepayment Event:

                                    (i)     the consummation of any Organic
                                            Change;

                                    (ii)    the consummation of an Initial
                                            Public Offering; or

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                                    (iii)   the consummation of a Permanent
                                            Financing; provided, however, that
                                            neither the Company's issuance of
                                            debt securities constituting
                                            Permitted Senior Debt nor the
                                            Company's issuance of equity
                                            securities in a private placement
                                            which yields gross proceeds in an
                                            aggregate amount of less than
                                            $20,000,000 shall constitute a
                                            Permanent Financing for purposes of
                                            this Section 4(a)(iii).

                  (b)      Subject to Section 6 and the terms of the Conversion
         Agreement, the Company shall give written notice to the Holder of any
         of the Mandatory Prepayment Events described in this Section 4 not less
         than 15 nor more than 60 days prior to the proposed closing date
         thereof describing in reasonable detail such transaction and the
         proposed closing date. Upon receipt of such notice, the Holder shall
         have a period of 10 days in which to notify the Company in writing of
         the principal amount of this Note or portion thereof to be prepaid. The
         parties agree that the amount to be prepaid by the Company shall not
         exceed the aggregate amount of proceeds received by the Company in
         connection with the occurrence of an event under Section 4(a)(i) or
         Section 4(a)(iii). Upon receipt of such written notice from the Holder,
         the Company covenants and agrees it will prepay, on the closing date of
         such transaction, this Note or the portion thereof subject to
         prepayment by paying an amount equal to the outstanding principal
         amount hereof subject to prepayment together with interest accrued and
         unpaid thereon. Each such prepayment shall be applied as provided in
         Section 4(d) hereof.

                  (c)      Subject to Section 6 and the terms of the Conversion
         Agreement, if, at any time while this Note is outstanding, a Change of
         Control occurs (a "Change of Control Event"), then, at the option of
         the Holder, the Company shall make a mandatory prepayment of this Note
         in whole or in part at the time of such Change of Control Event.
         Subject to Section 6, the Company shall give written notice to the
         Holder of the Change of Control Event described in this Section 4 not
         less than 15 nor more than 45 days prior to the proposed closing date
         thereof describing in reasonable detail such transaction and the
         proposed closing date. Upon receipt of such notice, the Holder shall
         have a period of 10 days in which to notify the Company in writing of
         the principal amount of this Note or portion thereof to be prepaid.
         Upon receipt of such written notice from the Holder, the Company
         covenants and agrees it will prepay, on the closing date of such
         transaction, this Note or the portion thereof subject to prepayment by
         paying an amount equal to the outstanding principal amount hereof
         subject to prepayment together with interest accrued and unpaid thereon
         and a prepayment premium equal to 1% of the outstanding principal
         amount of the Note. Each such prepayment shall be applied as provided
         in Section 4(d) hereof.

                  (d)      Subject to Section 6 and the terms of the Conversion
         Agreement, all optional prepayments under Section 4 of this Note shall
         be applied first to all costs, expenses,

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         indemnities and other amounts payable hereunder and under the Purchase
         Agreement, then to payment of default interest, if any, then to payment
         of accrued interest and thereafter to payment of principal in the pro
         rata order of the scheduled maturities thereof.

         5.       DEFAULTS AND REMEDIES.

                  (a)      Events of Default. An "Event of Default" shall occur
                  hereunder if:

                           (i)      the Company shall default in the payment of
                  the principal of this Note, when and as the same shall become
                  due and payable, whether at maturity or at a date fixed for
                  prepayment or by acceleration or otherwise; or

                           (ii)     the Company shall default in the payment of
                  any installment of interest on this Note, when and as the same
                  shall become due and payable, and such default shall continue
                  for a period of three Business Days; or

                           (iii)    the Company shall default in the due
                  observance or performance of any covenant, condition or
                  agreement on the part of the Company to be observed or
                  performed pursuant to Sections 7(f), 7(i), 7(l), 7(g), 8 or 9
                  of the Purchase Agreement, and such default is not remedied by
                  the Company or its Subsidiaries or waived by the Holder within
                  five Business Days after receipt by the Company, its
                  Subsidiaries or the Parent of written notice from the Holder
                  of such default; or

                           (iv)     the Company or any of its Subsidiaries shall
                  default in the due observance or performance of any covenant,
                  condition or agreement to be observed or performed pursuant to
                  the terms of this Note or pursuant to the terms of the
                  Purchase Agreement and such default is not remedied by the
                  Company or its Subsidiaries or waived by the Holder within 30
                  days after receipt by the Company, its Subsidiaries or the
                  Parent of written notice from the Holder of such default; or

                           (v)      any representation, warranty, certification
                  or statement made by or on behalf of the Company, the Parent
                  or any of its Subsidiaries in the Purchase Agreement, the
                  Note, or the other Transaction Documents or in any certificate
                  delivered pursuant hereto or thereto shall have been incorrect
                  in any material respect when made; or

                           (vi)     an Event of Default (as defined in the
                  Credit Agreements) under either of the Credit Agreements
                  occurs; or

                           (vii)    the Company shall default (as principal or
                  guarantor) in the payment of any Indebtedness (other than the
                  Note or the Indebtedness arising under the Credit Agreements)
                  in an amount, individually or in the aggregate, in excess of
                  $250,000

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                  when and as the same shall become due and payable whether at
                  stated or scheduled maturity, by acceleration or otherwise, or
                  the Company shall default in the performance or observance of
                  any covenant, condition or agreement contained in any such
                  Indebtedness, if, in each case, the effect of such failure to
                  pay or perform or observe is to cause or permit the holder or
                  holders thereof to cause such Indebtedness to become or be
                  declared, to be prepaid, redeemed, purchased or defeased due
                  prior to its stated maturity; or

                           (viii)   an involuntary proceeding shall be commenced
                  or an involuntary petition shall be filed in a court of
                  competent jurisdiction seeking (A) relief in respect of the
                  Company or of a substantial part of its property or assets,
                  under Title 11 of the United States Code, as now constituted
                  or hereafter amended, or any other Federal or state
                  bankruptcy, insolvency, receivership or similar law, (B) the
                  appointment of a receiver, trustee, custodian, sequestrator,
                  conservator or a similar official for the Company or for a
                  substantial part of its property or assets, or (C) the winding
                  up or liquidation of the Company; and such proceeding or
                  petition shall continue undismissed for 60 days, or an order
                  or decree approving or ordering any of the foregoing shall be
                  entered; or

                           (ix)     the Company shall (A) voluntarily commence
                  any proceeding or file any petition seeking relief under Title
                  11 of the United States Code, as now constituted or hereafter
                  amended, or any other Federal or state bankruptcy, insolvency,
                  receivership or similar law, (B) consent to the institution
                  of, or fail to contest in a timely and appropriate manner, any
                  proceeding for the filing of any petition described in
                  paragraph (viii) of this Section 5(a), (C) apply for or
                  consent to the appointment of a receiver, trustee, custodian,
                  sequestrator, conservator or similar official for the Company,
                  or for a substantial part of its property or assets, (D) file
                  an answer admitting the material allegations of a petition
                  filed against it in any such proceeding, (E) make a general
                  assignment for the benefit of creditors, (F) become unable,
                  admit in writing its inability or fail generally to pay its
                  debts as they become due or (G) take any action for the
                  purpose of effecting any of the foregoing; or

                           (x)      one or more judgments, writs or warrants of
                  attachment, executions or similar processes for the payment of
                  money in an aggregate amount in excess of $250,000 (to the
                  extent not covered by insurance) shall be rendered against the
                  Company and the same shall remain undischarged for a period of
                  30 days during which execution shall not be effectively
                  stayed, or any action shall be legally taken by a judgment
                  creditor to levy upon assets or properties of the Company to
                  enforce any such judgment; or

                           (xi)     any ERISA Event shall have occurred with
                  respect to a Plan or Multiemployer Plan of the Company or any
                  of its Subsidiaries and the sum

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                  (determined as of the date of occurrence of such ERISA Event)
                  of the amount of its unfunded benefit liabilities, as defined
                  in Section 4001(a)(18) of ERISA (the "Insufficiency") of such
                  Plan and the Insufficiency of any and all other Plans of the
                  Company with respect to which an ERISA Event shall have
                  occurred and then exist (or the liability of the Company and
                  its ERISA Affiliates related to such ERISA Event) exceeds, or
                  would be reasonably likely to exceed, $250,000; or

                           (xii)    any Subsidiary Guaranty or any provision
                  thereof shall cease to be in full force and effect or any
                  Subsidiary Guarantor or any Person acting by or on behalf of
                  any Subsidiary Guarantor shall deny or disaffirm any
                  Subsidiary Guarantor's obligations under the Subsidiary
                  Guaranty; or

                           (xiii)   any one or more licenses, permits,
                  accreditations or authorizations of the Company or any of its
                  Subsidiaries shall be suspended, limited or terminated or
                  shall not be renewed, or any other action shall be taken, by
                  any Governmental Authority in response to any alleged failure
                  by the Company or any of its Subsidiaries to be in compliance
                  with applicable Requirements of Law, and such action,
                  individually or in the aggregate, would be reasonably likely
                  to have a Material Adverse Effect; or

                           (xiv)    there shall occur (A) any uninsured damage
                  to, or loss, theft or destruction of, any properties of the
                  Company and its Subsidiaries having an aggregate fair market
                  value in excess of $250,000 or (B) any labor dispute, act of
                  God or other casualty that has or would be reasonably likely
                  to have a Material Adverse Effect.

                  (b)      Acceleration. If an Event of Default occurs under
         Section 5(a)(viii) or (ix), then the outstanding principal of and
         interest and premium (as determined pursuant to Section 3(c) and
         Section 4(d) hereof) on this Note shall automatically become
         immediately due and payable, without presentment, demand, protest or
         notice of any kind, all of which are expressly waived. If any other
         Event of Default occurs and is continuing, the Holder by written notice
         to the Company, may (subject to Section 6 hereof) declare the principal
         of and interest and premium (as determined pursuant to Section 3(c)
         hereof) on this Note to be due and payable immediately. Upon any such
         declaration of acceleration, such principal, interest and premium shall
         become immediately due and payable and, subject to Section 6 hereof,
         the Holder shall be entitled to exercise all of its rights and remedies
         hereunder and under the Purchase Agreement whether at law or in equity.

         6.       SUBORDINATION. The Company, for itself and its successors and
assigns, covenants and agrees, and each Holder of this Note, by its acceptance
hereof, shall be deemed to have agreed, that the payment from whatever source of
the indebtedness of the Company evidenced by this Note,

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including the principal hereof and interest and premium hereon, shall only be
subordinate and junior in right of payment to the prior payment in full of the
Permitted Senior Debt of the Company.

         7.       SUITS FOR ENFORCEMENT. Subject to Section 6, upon the
occurrence and continuance of any one or more Events of Default, the Holder may
proceed to protect and enforce its rights and remedies hereunder by suit in
equity, action at law or by other appropriate proceeding, whether for the
specific performance of any covenant or agreement contained in the Purchase
Agreement or this Note or in aid of the exercise of any power granted in the
Purchase Agreement or this Note, or may proceed to enforce the payment of the
Note, or to enforce any other legal or equitable right of the holders of the
Note.

         8.       REMEDIES CUMULATIVE. No remedy herein conferred upon the
Holder is intended to be exclusive of any other remedy and each and every such
remedy shall be cumulative and shall be in addition to every other remedy given
hereunder or now or hereafter existing at law or in equity or by statute or
otherwise. To the extent permitted by applicable law, and subject to the notices
required to be provided by the Holder to the Company, the Company and the Holder
waive presentment for payment, demand, protest and notice of dishonor.

         9.       HOLDER; TRANSFER.

                  (a)      The term "Holder" as used herein shall also include
         any transferee of this Note whose name has been recorded by the Company
         in the register referred to in Section 9(b). Each transferee of this
         Note acknowledges that this Note has not been registered under the
         Securities Act, and may be transferred only upon receipt by the Company
         of an opinion of counsel, which opinion shall be satisfactory in form
         and substance to the Company, stating that this Note may be transferred
         without registration under the Securities Act in reliance on an
         exemption therefrom.

                  (b)      The Company shall maintain a register in its office
         for the purpose of registering the Notes and any transfer thereof,
         which register shall reflect and identify, at all times, the ownership
         of any interest in the Notes. Upon the issuance of this Note, the
         Company shall record the name of the initial purchaser of this Note in
         such register as the first Holder. Thereafter, the Company shall duly
         record the name of a transferee on such register promptly after receipt
         of the opinion referred to in Section 9(a) above.

         10.      PAYMENTS. All payments and prepayments of principal of and
interest and premium on this Note shall be made in lawful money of the United
States of America.

         11.      COVENANTS BIND SUCCESSORS AND ASSIGNS. All the covenants,
stipulations, promises and agreements contained in this Note by or on behalf of
the Company shall bind its successors and assigns, whether so expressed or not.

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         12.      GOVERNING LAW. This Note shall be governed by and construed in
accordance with the laws of the State of North Carolina regardless of conflicts
of law principles.

         13.      VARIATION IN PRONOUNS. All pronouns and any variations thereof
refer to the masculine, feminine or neuter, singular or plural, as the context
may require.

         14.      HEADINGS. The headings in this Note are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

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         IN WITNESS WHEREOF, this Note has been executed by the Company by its
duly authorized officer as of the day and year first above written.

                                         HORIZON PERSONAL COMMUNICATIONS, INC.

                                         By:
                                            ----------------------------------
                                            Name:
                                            Title:

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                                                                   EXHIBIT 10.24

                              CONVERSION AGREEMENT

         THIS CONVERSION AGREEMENT (the "Agreement") is made effective as of the
15th day of February, 2000, by and between HORIZON PERSONAL COMMUNICATIONS,
INC., an Ohio corporation (the "Company" and as more fully defined below), and
FIRST UNION INVESTORS, INC., a North Carolina corporation ("FUI").

                                   WITNESSETH:

         WHEREAS, the Company and FUI are parties to the certain Bridge Note
Purchase Agreement dated as of the date hereof (the "Purchase Agreement")
pursuant to which the Purchaser (as defined below) purchased a 13% senior
subordinated bridge note from the Company (the "Note");

         WHEREAS, the Company wishes to grant a conversion option to the
Purchaser whereby the Purchaser may, at its option, convert the Note (including
PIK Notes, if any) and accrued and unpaid interest thereon into the type and
kind of securities issued in an Equity Financing (as defined below); and

         WHEREAS, in the event the Company redeems the Note with the proceeds of
any transaction other than an Equity Financing, then the Company wishes to grant
to the Purchaser a right of participation in subsequent Equity Financings;

         NOW, THEREFORE, in consideration of the foregoing and the
representations, covenants and agreements contained herein, and certain other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

         SECTION 1. DEFINITIONS. Unless otherwise defined herein, capitalized
terms used herein shall have the meaning given such terms below. Capitalized
terms used herein and not defined shall have the meanings set forth in the
Purchase Agreement.

                  "Aggregate Note Amount" shall have the meaning described in
         Section 2(a).

                  "Allocable Portion" shall mean that sum equal to the amount
         which the Note (including any PIK Notes) would have accreted to since
         the date of original issuance (taking into account all principal,
         accrued and unpaid interest and assuming the issuance of PIK Notes each
         quarter, but not including any interest at the default rate under the
         Note) but for the Company's redemption, in whole or in part, of the
         Note.

                  "Business Day" means any day other than a Saturday, Sunday or
         a day on which commercial banking institutions in Charlotte, North
         Carolina are authorized or required by law or executive order to be
         closed.
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                  "Company" means Horizon Personal Communications, Inc., an Ohio
         corporation; provided, however, that if, after the date hereof, Horizon
         Telcom, Inc. ("Telcom") contributes a majority of the capital stock of
         the Company to another entity in which Telcom will own a majority of
         such entity's capital stock, and such entity (the "Holding Company")
         engages in an Equity Financing, the term "Company" shall include the
         Holding Company, and the rights and privileges granted to the Purchaser
         pursuant to this Agreement will be applicable to the Holding Company's
         Equity Financing.

                  "Equity Financing" or "Equity Financings" means the Company's
         issuance for cash of any of its equity securities or any securities
         convertible into or having the rights to purchase any equity securities
         to any Person (including without limitation, a private or public
         offering of securities); provided, however, that (a) any issuance to an
         employee of the Company or its affiliates of stock options to purchase
         shares of common stock (or any issuance of securities upon the exercise
         of such options) under a bona fide stock option plan shall not be
         deemed an "Equity Financing" so long as such issuance shall not result
         in a Sale Transaction (as defined below) or (b) any issuance of
         securities to Sprint Corporation or any of its affiliates ("Sprint") so
         long as such issuance (i) is made in connection with a bona fide
         agreement by the Company to obtain POPs from Sprint and (ii) does not
         exceed an aggregate of 5% of the Company's outstanding common stock or
         (c) any issuance of securities to Motorola, Inc. or any of its
         affiliates ("Motorola") so long as such issuance (i) is made in
         connection with a bona fide bridge credit facility with the Company and
         (ii) does not exceed an aggregate of 5% of the Company's outstanding
         common stock.

                  "Fully Diluted Shares Outstanding" shall mean at any time, the
         number of outstanding shares of Common Stock of the Company, after
         giving effect to (a) all shares of common stock actually outstanding at
         the time of determination, (b) all shares of common stock issuable upon
         the exercise of any option, warrant, conversion right or similar right
         outstanding at the time of determination and all shares of common stock
         authorized but not issued or reserved for issuance pursuant to
         outstanding options under any stock plan approved by the board of
         directors of the Company.

                  "Outstanding Common Stock" of the Company means, as of the
         date of determination, the sum (without duplication) of the following:
         (a) the number of shares of common stock then outstanding at the date
         of determination; and (b) the number of shares of common stock then
         issuable upon the exercise or conversion of convertible securities and
         any warrants, options or other rights to subscribe for or purchase
         common stock or convertible securities (but excluding any unvested
         options and securities not then exercisable for or convertible into
         common stock).

                  "Person" means any individual, firm, corporation, partnership,
         limited liability company, joint venture, association, joint stock
         company, trust, unincorporated organization or government or any agency
         or political subdivision thereof, or other entity of any kind and
         includes any successor (by merger or otherwise) of such entity.

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                  "Public Offering" means any offering by the Company of its
         equity securities to the public pursuant to an effective registration
         statement under the Securities Act of 1933, as amended, or any
         comparable statement under any similar federal statute then in force.

                  "Purchaser" shall mean FUI and any affiliate thereof.

                  "Qualified Public Offering" means a firm commitment
         underwritten Public Offering of shares of the Company's Common Stock in
         which the aggregate price paid by the public for the shares shall be at
         least $25 million (before payment of underwriters' discounts and
         commissions).

                  SECTION 2. CONVERSION OPTION.

                  (a)      Until February 14, 2001, if the Company shall
                  initiate any transaction or be a party to any agreement or
                  transaction resulting in any Equity Financing, then, as a
                  condition of the consummation of all such Equity Financings,
                  lawful, enforceable and adequate provision shall be made so
                  that the Purchaser shall be entitled to elect, at its option,
                  by written notice to the Company to convert the sum of the
                  unpaid principal amount of the Note (including PIK Notes, if
                  any) plus all accrued and unpaid interest thereon (the
                  "Aggregate Note Amount") into fully paid and non-assessable
                  securities of the identical price, type and kind of securities
                  received by the purchasers in such Equity Financings. The
                  number of securities to be received shall be determined by
                  dividing the Aggregate Note Amount by the identical per share
                  price being paid for the securities by the ultimate purchasers
                  in the Equity Financing. The above provisions of this Section
                  2(a) shall apply to all Equity Financings which occur on or
                  prior to February 14, 2001; provided, that if the Company has
                  initiated or become a party to any agreement or transaction
                  before February 14, 2001 which will result in an Equity
                  Financing being consummated after February 14, 2001, then this
                  Section 2(a) shall continue to apply until the consummation of
                  such Equity Financing; provided, however, upon the closing of
                  a Qualified Public Offering, the Aggregate Note Amount shall
                  be automatically converted into fully paid and non-assessable
                  securities of the identical price, type and kind of securities
                  received in the Qualified Public Offering. The Company shall
                  give written notice to the Purchaser no less than 20 days
                  prior to the closing of such Equity Financing. Such notice
                  shall contain all the material terms, including, but not
                  limited to, the price, quantity and rights of the applicable
                  security, of the Equity Financing.

                  (b)      In order to exercise the conversion privilege, the
                  Purchaser of any note to be converted shall on or before the
                  10th day after receipt of the Company's notice of an Equity
                  Financing surrender such note, duly endorsed or assigned to
                  the Company or in blank at any office or agency of the
                  Company, accompanied by written notice to the Company at such
                  office or agency that the Purchaser elects to convert such
                  note or, if less than the entire principal amount thereof is
                  to be converted, the portion thereof to be converted. Notes
                  shall be deemed to have

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                  been converted immediately prior to the close of business on
                  the day of surrender of such notes for conversion in
                  accordance with the foregoing provisions, and at such time the
                  rights of the Purchaser of such notes as Purchaser shall
                  cease, and the Person or Persons entitled to receive the
                  securities issuable upon conversion shall be treated for all
                  purposes as the record purchaser or purchasers of such
                  securities at such time. As promptly as practicable on or
                  after the conversion date, the Company shall issue and shall
                  deliver at such office or agency a certificate or certificates
                  for the number of full shares of securities issuable upon
                  conversion, together with payment in lieu of any fraction of a
                  share, as provided in Section 1(c). In the case of any note
                  that is converted in part only, upon such conversion the
                  Company shall execute a new note in aggregate principal amount
                  equal to the unconverted portion of the principal amount of
                  such note.

                  (c)      No fractional shares of securities shall be issued
                  upon conversion of the note. If more than one note shall be
                  surrendered for conversion at one time by the same Purchaser,
                  the number of full shares that shall be issuable upon
                  conversion thereof shall be computed on the basis of the
                  aggregate principal amount of the notes (or, specified
                  portions thereof) so surrendered. Instead of any securities
                  that would otherwise be issuable upon conversion of any note
                  or notes (or, specified portions thereof), the Company shall
                  pay a cash adjustment in respect of such fraction in an amount
                  equal to the same fraction of the per share purchase price of
                  a share of such securities.

                  (d)      As a condition of the exercise of the conversion
                  right, the Purchaser shall execute and become a party to all
                  documents involved in such Equity Financing which are
                  reasonably acceptable to the Purchaser and are executed by
                  other purchasers in such Equity Financing (including, without
                  limitation, shareholder agreements, registration rights
                  agreements, purchase agreements, and, if such Equity Financing
                  is a Qualified Public Offering, a 180-day lock-up agreement).

         SECTION 3. RIGHT TO INVEST IN EQUITY FINANCINGS.

                  (a)      Right to Invest. In the event the Company redeems
                  all or any portion of the Note (or PIK Notes, if any) on or
                  before February 14, 2001, from the proceeds of a source of
                  funds other than an Equity Financing, and in the event the
                  Company conducts any Equity Financing during the 12 months
                  after the date of redemption, then the Company hereby agrees
                  to give prior written notice to the Purchaser and grants to
                  the Purchaser the option to purchase securities issued in such
                  Equity Financing with an aggregate purchase price equal to the
                  Allocable Portion, at the price and upon the same terms set
                  forth in such transaction. Such options shall be exercisable
                  by written notice to the Company for a period of 20 days from
                  the date of such offer and shall follow the procedures set
                  forth in Sections 2(b), 2(c) and 2(d). The closing of the
                  purchase of such securities by the Purchaser shall take place
                  concurrently with the closing of such Equity Financing.

                                       4
<PAGE>   5

                  (b)      As a condition of the exercise of the rights under
                  this Section 3, the Purchaser shall execute and become a party
                  to all documents involved in such Equity Financing which are
                  reasonably acceptable to the Purchaser and are executed by the
                  other purchasers in such Equity Financing (including, without
                  limitation, shareholder agreements, registration rights
                  agreements, purchase agreements, etc.).

         SECTION 4. MERGER OR SIMILAR TRANSACTION. If, on or before February 14,
2001, the Company shall merge, consolidate, exchange or close any similar
transaction with an unaffiliated entity which does not have a class of equity
securities registered under the Securities Exchange Act of 1934, as amended (the
"Acquiring Company"), in any such case where securities of the Acquiring Company
are being issued in exchange for, or otherwise in return for, all or
substantially all of the outstanding securities of the Company (a "Sale
Transaction"), the Purchaser shall have the right to convert all or a portion of
the outstanding principal and accrued interest on the Notes into shares of the
Class A common stock of the Company, in the manner set forth in Section 2 above.
The number of shares of the Class A common stock of the Company to be issued in
connection with such conversion shall be equal to the dollar amount of the Notes
to be converted, divided by the transaction per share value of a share of the
Company's Class A common stock in the Sale Transaction. The Purchaser shall
execute all documents reasonably required to be signed by the holders of the
Class A common stock in connection with the Sale Transaction. The Company shall
provide the Purchaser with written notice of the proposed Sale Transaction
within 20 days prior to the closing thereof. Such notice shall contain all the
material terms, including, but not limited to, the price, quantity and rights of
the applicable security, of the Equity Financing. If the Purchaser desires to
convert all or a portion of the Notes, it shall provide written notice to the
Company within 10 days after receipt of the Company's notice. Upon the closing
of the Sale Transaction, the Purchaser, shall have no other rights pursuant to
Sections 2 or 3 of this Agreement.

         SECTION 5. ASSIGNABILITY; SUCCESSORS AND ASSIGNS. Neither the Company
nor the Purchaser may assign or transfer (by operation of law or otherwise) its
rights and obligations, in whole or in part, under this Agreement to any third
party without the prior written consent of the other party; provided, however,
that the Purchaser may assign such rights and obligations to an affiliate of the
Purchaser without obtaining such consent. The rights and obligations of the
Purchaser and the Company hereunder shall inure to the benefit of, and be
binding and enforceable upon, the respective successors, and permitted assigns
or transferees of the Purchaser and the Company.

         SECTION 6. REMEDIES. The Company stipulates that the remedies at law of
the Purchaser in the event of any default or threatened default by the Company
in the performance of or compliance with any of the terms of this Agreement are
not and will not be adequate, and that such terms may be specifically enforced
by a decree for the specific performance of any agreement contained herein or by
an injunction against a violation of any of the terms hereof or otherwise.

                                       5
<PAGE>   6

         SECTION 7. NOTICES. Except as otherwise provided herein, any notices
hereunder shall be deemed to have been received (a) when delivered, if
personally delivered or sent via facsimile, or (b) one day following delivery to
a nationally recognized overnight courier or (c) on the third business day
following the date on which the piece of mail containing such communication is
posted, if sent by certified or registered mail, return receipt requested, in
each case addressed to the principal office of the Company, Attention:
President.

         SECTION 8. MISCELLANEOUS. This Agreement and any term hereof may be
changed, waived, discharged or terminated only by an instrument in writing
signed by both the Company and the Purchaser. This Agreement shall be construed
and enforced in accordance with, and governed by the laws of, the State of North
Carolina. This Agreement may be executed in one or more counterparts each of
which shall be deemed an original, but all of which together shall constitute
one and the same agreement. The headings in this Agreement are for purposes of
reference only, and shall not limit or otherwise affect any of the terms hereof.

         SECTION 9. COMPLIANCE WITH LAWS. The exercise by the Purchaser of its
rights hereunder shall be subject to compliance with applicable securities laws
(including without limitation Section 5 of the Securities Act of 1933, as
amended, as it relates to the integration of offerings) and the rules and
regulations of self-regulatory organizations (including without limitation, the
National Association of Securities Dealers, including those governing
underwriters' compensation, free writing and withholding). If, at the time of
the proposed exercise of any of the Purchaser's rights hereunder, the exercise
of such rights would violate any of such laws or regulations, the parties agree
to modify this Agreement and use their respective best efforts to preserve the
economic benefits provided by this Agreement, and the Company shall compensate
the Purchaser in such a way as to realize the benefit of its rights hereunder;
provided, however, that if the violation is based on the amount of the economic
benefit to be received, an appropriate adjustment in such amount shall be agreed
to by the parties.

         SECTION 10. PROTECTIVE PROVISION. The Company agrees to not permit any
entity which is controlled by the Company or by the Holding Company to
consummate an initial public offering of capital stock pursuant to the
Securities Act of 1933, as amended, without providing the Purchaser the option
to realize the benefit of its rights hereunder.

                                       6
<PAGE>   7

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

                                       HORIZON PERSONAL COMMUNICATIONS, INC.,
                                              an Ohio corporation

                                       By:
                                           ------------------------------------
                                           Name:
                                           Title:

                                        FIRST UNION INVESTORS, INC.,
                                              a North Carolina corporation

                                       By:
                                           ------------------------------------
                                           Name:
                                           Title:

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