FOR VALUE RECEIVED , i2 Telecom International, Inc., a Washington corporation (“Maker”), promises to pay to
Bruce Friedman (“Payee”) located at ADDRESS (or to such other person or persons and/or such other address as Payee may
designate in writing to Maker), the principal sum of ____________________ DOLLARS ($___,000.00) (the “Principal
Amount”), together with a loan origination fee, in the amount of _________________DOLLARS ($__,000.00) (the “Loan Fee”)
plus interest thereon as provided for herein.
This Promissory Note shall bear interest on the Principal Amount hereof at a rate equal to 12.0% per annum, which
interest shall be computed on the daily outstanding Principal Amount hereunder on a 360-day year. This Promissory Note shall
paid by Maker the sooner of Sixty (60) days from the date hereof or within three (3) business days after the closing of a
minimum of Four Million ($4,000,000) financing, (the “Financing”). Pre-payment of this Promissory Note shall occur in the
following manner in the event less than $4,000,000 of Financing is completed: i) The Maker shall pay the Payee Fifty (50%)
percent of the total principal and interest due upon the Maker completing $2,000,000 in total debt and/or equity funding; ii) The
Maker shall pay the Payee Seventy-Five (75%) percent of the total principal and interest due upon the Maker completing
$3,000,000 in total debt and/or equity funding; and iii) The Maker shall pay the Payee One-Hundred (100%) percent of the total
principal and interest due upon the Maker completing $4,000,000 in total debt and/or equity funding..
No later than three (3) business days after the Financing is completed, (the “Closing Date”), Maker shall pay to Payee
the Principal Amount and all interest accrued on the Principal Amount from the date hereof until the Closing Date, payable in
cash. Upon payment in full of the Principal Amount and interest, Payee shall no longer have any rights, and Maker shall no
longer have any obligations, under this Promissory Note.