EXHIBIT 10.14
THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS
AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION
STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE
STATE SECURITIES LAWS OR (2) ISSUER RECEIVES AN OPINION OF COUNSEL TO THE
HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY
SATISFACTORY TO ISSUER, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS.
June __, 2001 U.S. $______________ Chanute, Kansas Note No. ____
INFINITY, INC.
8% Subordinated Convertible Note
INFINITY, INC., a corporation formed under the laws of the State of Colorado (together with its successors
and permitted assigns, "Issuer"), for value received hereby unconditionally promises to pay to the order of
____________ ("Initial Holder") or its successors, transferees and assigns ("Noteholder") by wire transfer of
immediately available funds to an account designated by Noteholder by written notice to Issuer in the initial
principal sum of __________________ UNITED STATES DOLLARS (U.S. $______) ("Note Amount"),
together with any unpaid accrued interest thereon, on June 15, 2006 (the "Maturity Date").
The Note Amount and accrued and unpaid interest thereon shall bear interest at the rate of 8.0% per annum
("Interest Rate"), payable in arrears on each December 15 and June 15, commencing December 15, 2001 with
interest accruing from the date hereof (the "Issue Date"). Interest shall be computed on the basis of a year of 360
days (consisting of twelve 30-day months) and the actual number of days elapsed. Interest payable under this
Subordinated Convertible Note (this "Note") shall be paid by Issuer to Noteholder by wire trans