$100,000 December 1, 1998
FOR VALUE RECEIVED, Perry's Majestic Beer, Inc., a Delaware corporation having an address at 38 West
32nd Street, Suite 801, New York, New York 10001 (the "Maker"), promises to pay to the order of X-Treem
Products Corporation, a Delaware corporation having an address of 100 Plaza Drive, Second Floor, Secaucus,
New Jersey 07094 (the "Holder"), in lawful money of the United States of America, the principal sum of ONE
HUNDRED THOUSAND DOLLARS ($100,000) together with simple interest thereon at the rate of ten
percent (10%) per annum, to be applied first against accrued interest at the aforesaid rate on the outstanding
principal balance due and then in reduction of principal, with such principal and interest to be payable in full on
December 31, 1999, unless the maturity date is extended by the written agreement of the Maker and the Holder.
This Note may be prepaid at any time and from time to time, in whole or in part, without premium or penalty.
The Maker shall pay any collection expenses, court costs and reasonable attorney's fees and costs that may be
sustained by the Holder in the collection or enforcement of this Note or any part hereof.
The Maker, to the extent permitted by law, hereby waives presentation, demand, protest and notices of dishonor
The rights and remedies of the Holder with respect to this Note (whether arising at law or in equity) are
cumulative, and may be pursued separately or conjunctively in the sole discretion of the Holder. The Holder shall
not, by act or omission, be deemed to have waived any such rights or remedies unless, and then only to the extent
that, such waiver is set forth in a written instrument signed by the Holder and delivered to the Maker. Waivers of
rights or remedies with respect to previous events of default, violation or breach under this Note shall not
preclude the exercise of such rights or remedies upon the occurrence of subsequent events of default, violation or
This Note shal