Star Struck, Inc. 10% Promissory Note Due August 31, 2003

Summary

Star Struck, Inc., a Connecticut corporation, promises to pay a specified principal amount plus 10% annual interest to the Payee by August 31, 2003. Interest is paid quarterly, and if Star Struck, Inc. defaults and does not cure within five days of notice, the full amount becomes immediately due. The company also agrees to cover collection costs if there is a default. The agreement is governed by Connecticut law and can only be changed in writing signed by both parties.

EX-10.1 2 0002.txt FORM OF 10% PROMISORY NOTE DUE 08/31/2003 Exhibit 10.1 STAR STRUCK, INC. 10% PROMISSORY NOTE $___________ Bethel, Connecticut August 7, 2000 FOR VALUE RECEIVED, RECEIPT WHEREOF IS HEREBY ACKNOWLEDGED, STAR STRUCK, INC. ("Maker"), a Connecticut corporation, hereby promises to pay to the order of ______________("Payee"), having an address in ________________ ____________________________, the principal amount of______________________ ______________________________________________________ with interest at the rate of 10% per annum on the unpaid principal balance thereof. The principal amount shall be payable on August 31, 2003. Interest on the unpaid principal amount shall be payable quarterly on the last day of each November, February, May and August hereafter until all principal and interest is paid in full. Payments shall be made at the above-named address of Payee, or at such other address as the holder hereof shall have designated for such purpose to Maker in writing. If Maker fails to make any payment when due under this Note and such default continues for at least five days after notice of default delivered to Maker, then, upon notice to Maker, the entire unpaid balance of principal and interest shall, at the option of the holder of this Note, become immediately due and interest payable on the unpaid balance of this Note shall thereafter accrue at the rate of 10% per annum until payment in full of the unpaid balance of principal plus all accrued interest. Maker agrees to pay all reasonable costs and expenses, including attorney's fees, for the collection of this Note upon default. No delay or omission on the part of the holder of this Note in exercising any right hereunder shall operate as a waiver of such right or of any other right of such holder. All payments on this Note shall be applied first to the payment of accrued interest and any remainder to the payment of unpaid principal. Maker hereby waives presentment, demand, notice of dishonor, notice of maturity and notice of protest and all other notices related to this Note. Maker consents to the non-exclusive jurisdiction of the New York State and United States courts located in the County of Westchester, State of New York, for the enforcement of this Note. This Note shall be governed by the laws of the State of Connecticut without reference to its conflict of laws and provisions. This Note may not be modified, amended or terminated except by a writing signed by Maker and the holder of this Note. STAR STRUCK, INC. By: President