EX-10 2 formofnote2007.htm formofnote2007.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
PROMISSORY NOTE
 
U.S. $250,000.00    May 1, 2007 
 
 
FOR VALUE RECEIVED, the undersigned, eLEC COMMUNICATIONS CORP., a 
corporation having an address at 75 South Broadway, Suite 302 White Plains, New York 10601 
(“Maker”), promises to pay, on the dates set forth below, in lawful money of the United States, to 
_______________________, (“Holder”), or assigns, the principal amount of TWO HUNDRED 
FIFTY THOUSAND and 00/100 (U.S. $250,000.00) UNITED STATES DOLLARS, together 
with interest thereon at the rate of 12% per annum, on the earlier of (i) October 31, 2007 or (ii) 
the date on which the Maker receives $1 million in equity from a private placement offering that 
is being managed by its agent, Emerald Investments Inc. Any payment which becomes due on a 
Saturday, Sunday or legal holiday shall be payable on the next business day. 
 
All cash payments due and payable on this Note shall be made directly by wire transfer of 
immediately available funds to an account designated by Holder to Maker in writing, or at such 
other bank or agency, or in such other manner, as Holder shall have designated by written notice 
to Maker.   
 
If this Note is past due, this Note shall bear interest at the rate of 18%, and if it is placed 
in the hands of an attorney for collection or enforcement or it is collected or enforced through any 
legal proceedings, then Maker shall pay to Holder all attorneys’ fees, costs and expenses incurred 
in connection therewith in addition to all other amounts due hereunder.   
 
Maker (i) waives presentment and demand for payment, notices of nonpayment and 
dishonor, protest of dishonor and notice of protest; (ii) waives all notices in connection with the 
delivery and acceptance hereof and all other notices in connection with the performance, default 
or enforcement of the payment hereof or hereunder; (iii) waives any and all lack of diligence and 
delays in enforcement of the payment hereof; and (iv) consents to any and all extensions of time, 
renewals, waivers or modifications which may be granted by the Holder with respect to the 
payment or other provisions hereof.   
 
Maker may prepay this Note in whole or in part without the prior consent of Holder and 
without penalty or premium.   
 
The obligations of Maker hereunder are absolute and unconditional and are not subject to 
any advances, offsets or counterclaims which Maker, its successors or assigns, or any subsidiary 
or affiliate of any of them, may now or hereafter have against the Holder. 
 
Maker agrees that in any litigation arising out of or relating to this Note, it will waive trial 
by jury and not impose any setoff or counterclaim of any nature or description, and Maker shall 
be absolutely and unconditionally liable hereunder.   
 


                   This Note shall be binding upon any successor to Maker. 
 
                   Maker agrees that this Note and the rights and obligations of the parties hereunder shall 
be governed by and construed in accordance with the laws and decisions of the State of 
___________, without reference to the principles of conflicts of laws. 
 
                   IN WITNESS WHEREOF, the Maker has signed this Note as of the day and year first 
above written. 
 
                                                                                                    ELEC COMMUNICATIONS CORP. 
 
 
 
                                                                                                    By: ___ /s/ Paul H. Riss         
                                                                                                          Name: Paul H Riss 
                                                                                                             Title: CEO