NEITHER THIS DEBENTURE NOR THE  SECURITIES  INTO WHICH THIS DEBENTURE IS
CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE  COMMISSION OR
THE  SECURITIES  COMMISSION  OF ANY STATE IN  RELIANCE  UPON AN  EXEMPTION  FROM
REGISTRATION  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED  (THE  "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY NOT BE OFFERED  OR SOLD  EXCEPT  PURSUANT  TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE  SECURITIES  ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE  REGISTRATION
REQUIREMENTS  OF THE  SECURITIES  ACT AND IN ACCORDANCE  WITH  APPLICABLE  STATE
SECURITIES LAWS.


                                                       No. D-1   U.S. $500,000

                                 INNOVACOM, INC.
             7% SECURED CONVERTIBLE DEBENTURE DUE DECEMBER 15, 2003


               FOR VALUE  RECEIVED,  InnovaCom,  Inc., a  corporation  organized
under the laws of the Nevada and having a  principal  place of  business at 3400
Garrett Drive, Santa Clara,  California 95054 (the "Company") promises to pay to
JNC Strategic Fund Ltd., or registered assigns (the "Holder"), the principal sum
of Five Hundred Thousand Dollars ($500,000), on or prior to December 15, 2003 or
such earlier date as this Debenture (the Debenture") is required to be repaid as
provided  hereunder (the  "Maturity  Date") and to pay interest to the Holder on
the principal sum at the rate of 7% per annum,  payable  quarterly in arrears on
March  31,  June 30,  September  30 and  December  31 of each  year  while  this
Debenture  is  outstanding  and on each  Conversion  Date (as defined in Section
4(a)(i)),  commencing  on the earlier to occur of a Conversion  Date (as defined
herein) for such principal  amount and December 31, 1998.  Interest shall accrue
daily  commencing  on the  Original  Issue Date (as  defined in Section 6) until
payment in full of the  principal  sum,  together  with all  accrued  and unpaid
interest  and other  amounts  which may  become  due  hereunder,  has been made.
Interest  shall be  calculated on the basis of a 360-day year and for the actual
number  of days  elapsed.  Interest  hereunder  will be paid to the  Person  (as
defined in Section 6) in whose name this  Debenture (or one or more  predecessor
Debentures) is registered on the records of the Company  regarding  registration
and transfers of this Debenture (the "Debenture Register"). All overdue, accrued
and unpaid  interest and other amounts due hereunder  shall bear interest at the
rate of 15% per annum (to  accrue  daily)  from the date  such  interest  is due
hereunder  through and  including  the date of payment.  The  principal  of, and
interest on, this  Debenture  are payable in such coin or currency of the United
States of  America as at the time of  payment  is legal  tender  for  payment of
public and private  debts,  at the address of the Holder last  appearing  on the
Debenture  Register,  except that interest due on the principal  amount (but not
overdue  interest)  may, at the  Company's  option,  be paid in shares of Common
Stock (as defined in Section 6) calculated  based upon the Conversion  Price (as
defined  below) on the date such  interest  was due.  All amounts due  hereunder
other than such interest shall be paid in cash.  Notwithstanding anything to the
contrary  contained herein,  the Company may not issue shares of Common Stock in
payment of interest on the principal



<PAGE>



amount  if:  (i) the  number of shares of Common  Stock at the time  authorized,
unissued  and  unreserved  for  all  purposes,  or held as  treasury  stock,  is
insufficient  to pay  interest  hereunder in shares of Common  Stock;  (ii) such
shares are not either registered for resale pursuant to an Underlying Securities
Registration  Statement (as defined in Section 6) or freely transferable without
volume restrictions pursuant to Rule 144(k) promulgated under the Securities Act
of 1933,  as amended (the  "Securities  Act"),  as  determined by counsel to the
Company pursuant to a written opinion letter addressed and in form and substance
acceptable to the Holder and the transfer  agent for such shares;  or (iii) such
shares are not  Actively  Traded (as  defined  herein)  (or listed or quoted for
trading on the American Stock Exchange,  Nasdaq National Market, Nasdaq SmallCap
Market  or The New York  Stock  Exchange,  and any other  exchange  on which the
Common Stock is then listed for trading (each, a "Subsequent Market")).  As used
herein, "Actively Traded" shall mean that (a) the average value of the shares of
Common Stock traded on the OTC Bulletin  Board in each week measured over a four
(4) week period on a rolling  basis equals or exceeds  $50,000 and (b) there are
no fewer  than ten (10)  market  makers  actively  making a market in the Common
Stock.

        This Debenture is subject to the following additional provisions:

               Section 1. This Debenture is exchangeable  for an equal aggregate
principal  amount  of  Debentures  of  different  authorized  denominations,  as
requested  by the  Holder  surrendering  the same but shall not be  issuable  in
denominations  of less  than  integral  multiplies  of  Fifty  Thousand  Dollars
($50,000) unless such amount represents the full principal balance of Debentures
outstanding to such Holder. No service charge will be made for such registration
of transfer or exchange.

               Section  2. This  Debenture  has been  issued  subject to certain
investment  representations  of the  original  Holder set forth in the  Purchase
Agreement  and may be  transferred  or  exchanged  only in  compliance  with the
Purchase Agreement. Prior to due presentment to the Company for transfer of this
Debenture,  the  Company  and any agent of the  Company  may treat the person in
whose name this  Debenture is duly  registered on the Debenture  Register as the
owner hereof for the purpose of receiving payment as herein provided and for all
other  purposes,  whether or not this  Debenture  is  overdue,  and  neither the
Company nor any such agent shall be affected by notice to the contrary.

               Section 3.    Events of Default.

        (a)  "Event of  Default",  wherever  used  herein,  means any one of the
following  events  (whatever  the reason and  whether it shall be  voluntary  or
involuntary or effected by operation of law or pursuant to any judgment,  decree
or order of any court, or any order, rule or regulation of any administrative or
governmental body):

               (i) any default in the payment of the principal  of,  interest on
        or liquidated  damages in respect of, this Debenture,  free of any claim
        of subordination, as and when the



<PAGE>



        same shall become due and payable  (whether on the applicable  quarterly
        interest  payment  date,  a Conversion  Date or the Maturity  Date or by
        acceleration or otherwise);

               (ii) the  Company  shall fail to  observe  or  perform  any other
        covenant,  agreement or warranty  contained in, or otherwise  commit any
        breach  of,  this  Debenture,   the  Purchase  Agreement,  the  Security
        Agreement  or the  Registration  Rights  Agreement,  and such failure or
        breach  shall not have been  remedied  within 10 days  after the date on
        which notice of such failure or breach shall have been given;

               (iii) the Company or any of its subsidiaries  shall commence,  or
        there shall be  commenced  against the Company or any such  subsidiary a
        case  under  any  applicable  bankruptcy  or  insolvency  laws as now or
        hereafter in effect or any successor  thereto,  or the Company commences
        any other proceeding under any reorganization,  arrangement,  adjustment
        of debt,  relief of debtors,  dissolution,  insolvency or liquidation or
        similar  law of any  jurisdiction  whether  now or  hereafter  in effect
        relating to the Company or any subsidiary  thereof or there is commenced
        against  the  Company or any  subsidiary  thereof  any such  bankruptcy,
        insolvency or other proceeding which remains undismissed for a period of
        60  days;  or the  Company  or any  subsidiary  thereof  is  adjudicated
        insolvent or bankrupt;  or any order of relief or other order  approving
        any such case or proceeding is entered; or the Company or any subsidiary
        thereof  suffers any  appointment of any custodian or the like for it or
        any  substantial  part of its property which  continues  undischarged or
        unstayed  for a period  of 60 days;  or the  Company  or any  subsidiary
        thereof makes a general assignment for the benefit of creditors;  or the
        Company  shall fail to pay,  or shall state that it is unable to pay, or
        shall be unable to pay,  its debts  generally as they become due; or the
        Company or any subsidiary  thereof shall call a meeting of its creditors
        with a view to arranging a composition  or  adjustment of its debts;  or
        the Company or any subsidiary thereof shall by any act or failure to act
        indicate  its consent  to,  approval  of or  acquiescence  in any of the
        foregoing;  or any  corporate or other action is taken by the Company or
        any  subsidiary  thereof  for  the  purpose  of  effecting  any  of  the
        foregoing;

               (iv) the Company  shall default in any of its  obligations  under
        any mortgage, credit agreement or other facility, indenture agreement or
        other instrument under which there may be issued,  or by which there may
        be secured or  evidenced  any  indebtedness  of the Company in an amount
        exceeding  one  hundred  thousand  dollars   ($100,000),   whether  such
        indebtedness  now exists or shall  hereafter be created and such default
        shall  result in such  indebtedness  becoming or being  declared due and
        payable  prior to the date on which it would  otherwise  become  due and
        payable;

               (v) the Common Stock shall fail to be Actively  Traded or fail to
        be listed or quoted for  trading on any  Subsequent  Market if after the
        Original  Issue  Date the  Common  Stock  shall be listed or quoted  for
        trading on any such Subsequent  Market,  or if the Common Stock shall be
        suspended from trading thereon without being actively  traded,  relisted
        or having such  suspension  lifted,  as the case may be, within  fifteen
        (15) days;



<PAGE>


               (vi) the Company shall be a party to any merger or  consolidation
        pursuant to which the Company shall not be the surviving  entity (or, if
        the Company is the surviving entity,  the Company shall issue or sell to
        another Person, or group thereof,  in excess of 50% of the Common Stock)
        or shall  dispose  of all or  substantially  all of its assets in one or
        more  transactions,  or shall  redeem  more than a de minimis  number of
        shares of Common Stock (other than redemptions of Underlying Shares);

               (vii) an Underlying Securities  Registration  Statement shall not
        have been declared  effective by the Securities and Exchange  Commission
        (the "Commission") on or prior to the 180th day after the Original Issue
        Date;

               (viii)  an Event  (as  hereinafter  defined)  shall not have been
        cured to the  satisfaction  of the  Holder  prior to the  expiration  of
        thirty (30) days from the Event Date (as hereinafter  defined)  relating
        thereto  (other than an Event  resulting from a failure of an Underlying
        Securities  Registration  Statement  to be  declared  effective  by  the
        Commission  on or prior to the 90th day after the Original  Issue Date);
        or

               (ix) the Company shall fail to deliver certificates to the Holder
        prior to the 15th day after the  Conversion  Date  pursuant  to  Section
        4(b).

               (b) If any Event of  Default  occurs and is  continuing  the full
principal  amount of this  Debenture  (and,  at the Holder's  option,  all other
Debentures  then held by such Holder),  together with interest and other amounts
owing in respect  thereof,  to the date of  acceleration,  to be, shall  become,
immediately due and payable in cash. The aggregate  amount payable upon an Event
of Default in  respect  of the  Debentures  shall be equal to the sum of (i) the
Mandatory  Prepayment  Amount (as defined in Section 6) plus (ii) the product of
(A) the number of  Underlying  Shares  issued in respect  of  conversions  or as
payment of interest  hereunder and then held by the Holder and (B) the Per Share
Market Value on the date  prepayment is demanded or the date the full prepayment
price is paid, whichever is greater. The Holder need not provide and the Company
hereby waives any presentment,  demand, protest or other notice of any kind, and
the Holder may  immediately  and without  expiration of any grace period enforce
any and  all of its  rights  and  remedies  hereunder  and  all  other  remedies
available to it under  applicable  law.  Such  declaration  may be rescinded and
annulled by Holder at any time prior to payment hereunder. No such rescission or
annulment  shall  affect  any  subsequent  Event of  Default or impair any right
consequent thereon.

               Section 4.    Conversion.

               (a) (i) This Debenture shall be convertible into shares of Common
Stock at the option of the Holder, in whole or in part at any time and from time
to time,  from and after the 100th day  following  the  Original  Issue Date and
prior to the close of business  on the  Maturity  Date.  The number of shares of
Common  Stock  as  shall  be  issuable  upon a  conversion  hereunder  shall  be
determined by dividing the outstanding  principal amount of this Debenture to be
converted, plus all accrued but unpaid interest thereon, by the Conversion Price
(as defined below), each as


<PAGE>



subject to adjustment as provided hereunder. The Holder shall effect conversions
by  surrendering  this  Debenture  (or such  portions  thereof) to be converted,
together  with the form of  conversion  notice  attached  hereto as Exhibit A (a
"Conversion  Notice") to the Company.  Each Conversion  Notice shall specify the
principal  amount  of  Debentures  to be  converted  and the date on which  such
conversion  is to be  effected,  which  date may not be  prior to the date  such
Conversion  Notice is deemed to have been  delivered  hereunder  (a  "Conversion
Date").  If  no  Conversion  Date  is  specified  in a  Conversion  Notice,  the
Conversion  Date  shall  be the date  that  such  Conversion  Notice  is  deemed
delivered  hereunder.  Subject to Section 4(b) hereof,  each Conversion  Notice,
once given,  shall be irrevocable.  If the Holder is converting less than all of
the principal amount represented by the Debenture(s) tendered by the Holder with
the Conversion  Notice, or if a conversion  hereunder cannot be effected in full
for  any  reason,  the  Company  shall  honor  such  conversion  to  the  extent
permissible  hereunder and shall promptly  deliver to such Holder (in the manner
and  within  the  time set  forth  in  Section  4(b)) a new  Debenture  for such
principal amount as has not been converted.

                      (ii)   Certain Conversion Restrictions.

                             (A) The Holder agrees not to convert  Debentures to
the extent such
conversion  would result in the Holder  beneficially  owning (as  determined  in
accordance  with Section 13(d) of the Exchange Act and the rules  thereunder) in
excess of 4.999% of the then  issued  and  outstanding  shares of Common  Stock,
including  shares issuable upon conversion of the Debentures held by such Holder
after application of this Section.  The Holder shall have the sole authority and
obligation  to  determine  whether the  restriction  contained  in this  Section
applies  and,  to the extent  that the  Holder  determines  that the  limitation
contained in this Section  applies,  the  determination  of which Debentures are
convertible  shall be in the sole  discretion of the Holder.  The  provisions of
this  Section  may be waived by a Holder  (but only as to itself  and not to any
other  Holder)  upon not less than 75 days prior notice to the Company (in which
case, the Holder shall make such filings with the  Commission,  including  under
Rule 13D or 13G, as are required by  applicable  law).  Other  Holders  shall be
unaffected by any such waiver.

                             (B) The Holder agrees not to convert  Debentures to
the extent such conversion  would result in the Holder  beneficially  owning (as
determined  in  accordance  with Section 13(d) of the Exchange Act and the rules
thereunder)  in excess of 9.999% of the then  issued and  outstanding  shares of
Common Stock,  including  shares issuable upon conversion of the Debentures held
by such Holder after application of this Section. The Holder shall have the sole
authority and obligation to determine whether the restriction  contained in this
Section  applies  and,  to the  extent  that  the  Holder  determines  that  the
limitation  contained  in this  Section  applies,  the  determination  of  which
Debentures are convertible  shall be in the sole  discretion of the Holder.  The
provisions  of this Section may be waived by a Holder (but only as to itself and
not to any other Holder) upon not less than 75 days prior notice to the Company.
Other Holders shall be unaffected by any such waiver.


<PAGE>

               (b) Not later than three Trading Days after the Conversion  Date,
the Company will deliver to the Holder (i) a certificate or  certificates  which
shall be free of restrictive legends and trading  restrictions (other than those
required by Section 3.1(b) of the Purchase Agreement) representing the number of
shares of the Common Stock being  acquired upon the  conversion  of  Debentures,
(ii)  Debentures  in a  principal  amount  equal  to  the  principal  amount  of
Debentures  not  converted;  (iii) a bank check in the amount of all accrued and
unpaid  interest (if the Company has elected and is  permitted  hereunder to pay
accrued interest in cash),  together with all other amounts then due and payable
in  accordance  with the terms  hereof,  in respect of  Debentures  tendered for
conversion and (iv) if the Company has elected to pay accrued interest in shares
of the Common Stock,  certificates,  which shall be free of restrictive  legends
and trading  restrictions  (other than those  required by Section  3.1(b) of the
Purchase  Agreement),  representing such number of shares of the Common Stock as
equals  such  interest  divided  by  the  Conversion  Price  calculated  on  the
Conversion Date; provided,  however,  that the Company shall not be obligated to
issue  certificates  evidencing  the shares of the Common  Stock  issuable  upon
conversion of the principal  amount of Debentures until Debentures are delivered
for  conversion  to the Company or the Holder  notifies  the  Company  that such
Debenture  has been  mutilated,  lost,  stolen or destroyed  and  complies  with
Section 9 hereof.  If in the case of any Conversion  Notice such  certificate or
certificates,  including for purposes hereof,  any shares of the Common Stock to
be issued on the  Conversion  Date on  account of  accrued  but unpaid  interest
hereunder,  are not  delivered  to or as  directed  by the  Holder  by the third
Trading Day after a  Conversion  Date,  the Holder  shall be entitled by written
notice to the Company at any time on or before its  receipt of such  certificate
or certificates  thereafter,  to rescind such conversion  (whether  subject to a
Holder  or a Company  Conversion  Notice),  in which  event  the  Company  shall
immediately return the Debentures tendered for conversion.  If the Company fails
to deliver to the Holder  such  certificate  or  certificates  pursuant  to this
Section,  including  for purposes  hereof,  any shares of the Common Stock to be
issued  on the  Conversion  Date on  account  of  accrued  but  unpaid  interest
hereunder, prior to the fifth Trading Day after the Conversion Date, the Company
shall pay to such Holder,  in cash, as liquidated  damages and not as a penalty,
$1,500 for each day  thereafter  until the Company  delivers  such  certificates
(such  amount  shall be also be due for each Trading Day after the date that the
Holder may  rescind  such  conversion  until such date as the Holder  shall have
received  the return of the  principal  amount of  Debentures  relating  to such
rescission).  If the Company fails to deliver to the Holder such  certificate or
certificates pursuant to this Section prior to the 15th day after the Conversion
Date, the Company shall, upon notice from the Holder, prepay such portion of the
aggregate of the  principal  amount of Debentures  then held by such Holder,  as
requested by such Holder,  for the Mandatory  Prepayment Amount, in cash. If any
portion of the Mandatory  Prepayment Amount pursuant to this Section is not paid
within  seven days after  notice  therefor is deemed  delivered  hereunder,  the
Company will pay interest on the  Mandatory  Prepayment  Amount at a rate of 15%
per annum (to accrue daily), in cash to such Holder,  accruing from such seventh
day until the Mandatory Prepayment Amount, plus all accrued interest thereon, is
paid in full.

               (c) (i) The conversion price (the  "Conversion  Price") in effect
on  any  Conversion  Date  shall  be the  lesser  of (A)  $.1775  (the  "Initial
Conversion  Price") and (B) the Applicable  Percentage (as defined in Section 6)

<PAGE>

multiplied by the Average Price (as defined herein) calculated on the Conversion
Date; provided, that the five (5) Trading Day period contemplated in the Average
Price  shall be extended  for the number of Trading  Days,  if any,  during such
period in which  (A) the  shares of  Common  Stock  are not  Actively  Traded or
suspended or delisted from trading on any Subsequent  Market, (B) after the date
declared  effective by the Commission,  the Underlying  Securities  Registration
Statement  is not  effective,  or (C) after the date  declared  effective by the
Commission,  the Prospectus included in the Underlying  Securities  Registration
Statement  may not be used by the Holder for the  resale of  Underlying  Shares,
provided,  further, that if (a) an Underlying Securities  Registration Statement
is not filed on or prior to the  Filing  Date (as  defined  in the  Registration
Rights  Agreement),  or (b) the  Company  fails to file  with the  Commission  a
request for  acceleration in accordance with Rule 12d1-2  promulgated  under the
Securities  Exchange Act of 1934,  as amended,  within five (5) days of the date
that the Company is notified (orally or in writing, whichever is earlier) by the
Commission  that an Underlying  Securities  Registration  Statement  will not be
"reviewed" or is not subject to further review or comment by the Commission,  or
(c) the Underlying Securities  Registration  Statement is not declared effective
by the  Commission  on or prior to the  Effectiveness  Date (as  defined  in the
Registration Rights Agreement),  or (d) such Underlying Securities  Registration
Statement is filed with and declared  effective by the Commission but thereafter
ceases to be effective as to all Registrable Securities (as such term is defined
in the Registration Rights Agreement) for more than twenty (20) days at any time
prior to the expiration of the  "Effectiveness  Period" (as such term as defined
in the Registration  Rights Agreement),  without being succeeded by a subsequent
Underlying Securities  Registration  Statement filed with and declared effective
by the  Commission  within  twenty (20) days, or (e) trading in the Common Stock
shall fail to be Actively  Traded or if the Common  Stock shall be  suspended or
delisted from trading on any Subsequent Market for any reason for more than five
(5)  days,  or (f) the  conversion  rights  of the  Holders  of  Debentures  are
suspended for any reason or if the Holder is not permitted to resell Registrable
Securities under the Underlying  Securities  Registration  Statement,  or (g) an
amendment to the Underlying  Securities  Registration  Statement is not filed by
the Company with the  Commission  within  fifteen (15) days of the  Commission's
notifying  the  Company  that  such  amendment  is  required  in  order  for the
Underlying Securities  Registration Statement to be declared effective (any such
failure  being  referred to as an "Event,"  and for purposes of clauses (a), (c)
and (f) the date on which such Event occurs,  or for purposes of clauses (b) and
(e) the date on which such five (5) day period is  exceeded,  or for purposes of
clause (d) the date  which  such  twenty  (20) day  period is  exceeded,  or for
purposes  of  clause  (g) the date on which  such  fifteen  (15) day  period  is
exceeded, being referred to as "Event Date"), the Company shall pay, in cash, as
liquidated damages and not as a penalty,  on the Event Date and on the first day
of each  month  thereafter  until  the  Event is  cured,  1.5% of the  aggregate
principal  amount of Debentures then outstanding pro rata to the holders thereof
in accordance  with their holdings  thereof.  The provisions of this Section are
not  exclusive  and shall in no way limit the  Company's  obligations  under the
Registration Rights Agreement.

                      (ii)   If the Company, at any time while any Debentures
are outstanding, (a) shall pay a stock dividend or otherwise make a distribution
or  distributions  on shares of its Common  Stock or any other  equity or equity
equivalent  securities  payable in shares of the  Common  Stock,  (b)  subdivide
outstanding

<PAGE>


shares  of the  Common  Stock  into a  larger  number  of  shares,  (c)  combine
outstanding  shares of the Common Stock into a smaller number of shares,  or (d)
issue by  reclassification  of shares of the Common  Stock any shares of capital
stock of the Company,  the Initial  Conversion  Price shall be  multiplied  by a
fraction  of which the  numerator  shall be the  number of shares of the  Common
Stock (excluding  treasury shares, if any) outstanding  before such event and of
which  the  denominator  shall be the  number  of  shares  of the  Common  Stock
outstanding after such event. Any adjustment made pursuant to this Section shall
become  effective  immediately  after the record date for the  determination  of
stockholders  entitled to receive such dividend or distribution and shall become
effective  immediately  after the effective  date in the case of a  subdivision,
combination or re-classification.

                      (iii) If the Company, at any time while any Debentures are
outstanding,  shall issue  rights or warrants to all holders of the Common Stock
(and not to Holders of  Debentures)  entitling them to subscribe for or purchase
shares of the Common  Stock at a price per share less than the Per Share  Market
Value of the Common  Stock at the  record  date  mentioned  below,  the  Initial
Conversion  Price shall be  multiplied by a fraction,  of which the  denominator
shall be the number of shares of the Common Stock (excluding treasury shares, if
any)  outstanding  on the date of issuance  of such rights or warrants  plus the
number of  additional  shares of the Common Stock  offered for  subscription  or
purchase, and of which the numerator shall be the number of shares of the Common
Stock (excluding treasury shares, if any) outstanding on the date of issuance of
such rights or warrants plus the number of shares which the  aggregate  offering
price of the total number of shares so offered would  purchase at such Per Share
Market Value. Such adjustment shall be made whenever such rights or warrants are
issued,  and shall become  effective  immediately  after the record date for the
determination  of  stockholders  entitled to receive  such  rights or  warrants.
However,  upon the expiration of any right or warrant to purchase  shares of the
Common  Stock the  issuance of which  resulted in an  adjustment  in the Initial
Conversion  Price  pursuant to this Section,  if any such right or warrant shall
expire and shall not have been  exercised,  the Initial  Conversion  Price shall
immediately  upon such expiration be recomputed and effective  immediately  upon
such  expiration  be  increased  to the  price  which it would  have  been  (but
reflecting any other  adjustments in the Initial  Conversion Price made pursuant
to the  provisions  of this  Section  4 after  the  issuance  of such  rights or
warrants)  had the  adjustment  of the  Initial  Conversion  Price made upon the
issuance  of such  rights or  warrants  been made on the basis of  offering  for
subscription or purchase only that number of shares of the Common Stock actually
purchased upon the exercise of such rights or warrants actually exercised.

                      (iv) If the  Company,  at any time  while  Debentures  are
outstanding,  shall  distribute  to all holders of the Common  Stock (and not to
Holders of  Debentures)  evidences  of its  indebtedness  or assets or rights or
warrants to subscribe for or purchase any  security,  then in each such case the
Initial  Conversion  Price at which  Debentures  shall thereafter be convertible
shall be  determined  by  multiplying  the  Initial  Conversion  Price in effect

<PAGE>


immediately  prior to the record date fixed for  determination  of  stockholders
entitled to receive  such  distribution  by a fraction of which the  denominator
shall be the Per Share  Market Value of the Common  Stock  determined  as of the
record date mentioned  above, and of which the numerator shall be such Per Share
Market  Value of the Common  Stock on such record date less the then fair market
value  at such  record  date  of the  portion  of such  assets  or  evidence  of
indebtedness so distributed  applicable to one  outstanding  share of the Common
Stock as determined by the Board of Directors in good faith; provided,  however,
that in the  event of a  distribution  exceeding  ten  percent  (10%) of the net
assets  of the  Company,  such  fair  market  value  shall  be  determined  by a
nationally  recognized  or major  regional  investment  banking  firm or firm of
independent  certified public  accountants of recognized  standing (which may be
the firm that  regularly  examines the financial  statements of the Company) (an
"Appraiser")  selected in good faith by the holders of a majority in interest of
Debentures then  outstanding;  and provided,  further,  that the Company,  after
receipt of the determination by such Appraiser shall have the right to select an
additional  Appraiser,  in good faith, in which case the fair market value shall
be equal to the average of the determinations by each such Appraiser.  In either
case the adjustments  shall be described in a statement  provided to the holders
of  Debentures  of the  portion  of  assets  or  evidences  of  indebtedness  so
distributed or such  subscription  rights  applicable to one share of the Common
Stock.  Such adjustment shall be made whenever any such distribution is made and
shall become effective immediately after the record date mentioned above.

                      (v)    In case of any reclassification of the Common Stock
or any compulsory share exchange pursuant to which the Common Stock is converted
into other securities, cash or property, the Holder of this Debenture shall have
the right  thereafter  to,  at its  option,  (A)  convert  the then  outstanding
principal  amount,  together with all accrued but unpaid  interest and any other
amounts then owing  hereunder in respect of this  Debenture only into the shares
of stock and other securities, cash and property receivable upon or deemed to be
held by holders of the Common Stock  following  such  reclassification  or share
exchange, and the Holders of the Debentures shall be entitled upon such event to
receive such amount of securities,  cash or property as the shares of the Common
Stock of the Company into which the then outstanding principal amount,  together
with all accrued but unpaid  interest and any other amounts then owing hereunder
in respect of this Debenture could have been converted immediately prior to such
reclassification  or share  exchange would have been entitled or (B) require the
Company to prepay,  from funds  legally  available  therefor at the time of such
prepayment,  the aggregate of its  outstanding  principal  amount of Debentures,
plus  all  interest  and  other  amounts  due and  payable  thereon,  at a price
determined in accordance with Section 3(b). The entire prepayment price shall be
paid  in  cash.   This   provision   shall   similarly   apply   to   successive
reclassifications or share exchanges.

                      (vi) All  calculations  under this Section 4 shall be made
to the nearest cent or the nearest 1/100th of a share, as the case may be.

                      (vii)  Whenever the Initial  Conversion  Price is adjusted
pursuant to any of Section  4(c)(ii) - (v), the Company  shall  promptly mail to
each Holder of Debentures a notice  setting forth the Initial  Conversion  Price
after such adjustment and setting forth a brief statement of the facts requiring
such adjustment.
      
<PAGE>
                (viii) If:

                             A.    the Company shall declare a dividend (or any
                                   other distribution) on its Common Stock; or

                             B.    the Company shall declare a special
                                   nonrecurring cash dividend on or a redemption
                                   of its Common Stock; or

                             C.    the Company  shall  authorize the granting to
                                   all  holders  of the Common  Stock  rights or
                                   warrants to  subscribe  for or  purchase  any
                                   shares  of  capital  stock of any class or of
                                   any rights; or

                             D.    the  approval  of  any  stockholders  of  the
                                   Company shall be required in connection  with
                                   any  reclassification  of the Common Stock of
                                   the Company,  any  consolidation or merger to
                                   which  the  Company  is a party,  any sale or
                                   transfer of all or  substantially  all of the
                                   assets  of the  Company,  of  any  compulsory
                                   share of exchange whereby the Common Stock is
                                   converted  into  other  securities,  cash  or
                                   property; or

                             E.    the Company shall authorize the voluntary or
                                   involuntary dissolution, liquidation or 
                                   winding up of the affairs of the Company;

then the Company shall cause to be filed at each office or agency maintained for
the purpose of conversion of the Debentures, and shall cause to be mailed to the
Holders of  Debentures  at their last  addresses  as they shall  appear upon the
stock books of the Company,  at least 30 calendar  days prior to the  applicable
record or effective date hereinafter specified, a notice stating (x) the date on
which a record is to be taken for the  purpose of such  dividend,  distribution,
redemption,  rights or warrants,  or if a record is not to be taken, the date as
of which the  holders  of the  Common  Stock of record  to be  entitled  to such
dividend, distributions,  redemption, rights or warrants are to be determined or
(y) the  date on  which  such  reclassification,  consolidation,  merger,  sale,
transfer or share  exchange is expected to become  effective  or close,  and the
date as of which it is expected that holders of the Common Stock of record shall
be entitled to exchange their shares of the Common Stock for securities, cash or
other property deliverable upon such  reclassification,  consolidation,  merger,
sale, transfer or share exchange;  provided,  however,  that the failure to mail
such notice or any defect therein or in the mailing thereof shall not affect the
validity of the  corporate  action  required  to be  specified  in such  notice.
Holders are entitled to convert  Debentures  during the 30-day period commencing
the date of such  notice  to the  effective  date of the event  triggering  such
notice.

<PAGE>
               (d) The Company  covenants  that it will at all times reserve and
keep  available out of its  authorized  and unissued  shares of the Common Stock
solely for the purpose of issuance upon conversion of the Debentures and payment
of interest on the  Debentures,  each as herein  provided,  free from preemptive
rights or any other actual contingent  purchase rights of persons other than the
Holders,  not less than such  number  of  shares  of the  Common  Stock as shall
(subject to any additional requirements of the Company as to reservation of such
shares set forth in the Purchase Agreement) be issuable (taking into account the
adjustments  and  restrictions  of  Section  4(c))  upon the  conversion  of the
outstanding   principal  amount  of  the  Debentures  and  payment  of  interest
hereunder.  The Company covenants that all shares of the Common Stock that shall
be so issuable  shall,  upon issue, be duly and validly  authorized,  issued and
fully  paid,  nonassessable  and,  if  the  Underlying  Securities  Registration
Statement  has  been  declared   effective  under  the  Securities  Act,  freely
tradeable.

               (e) Upon a conversion hereunder the Company shall not be required
to issue  stock  certificates  representing  fractions  of shares of the  Common
Stock,  but may if  otherwise  permitted,  make a cash payment in respect of any
final  fraction of a share based on the Per Share Market Value at such time.  If
the Company  elects not, or is unable,  to make such a cash payment,  the holder
shall be  entitled  to receive,  in lieu of the final  fraction of a share,  one
whole share of Common Stock.

               (f) The issuance of  certificates  for shares of the Common Stock
on  conversion  of the  Debentures  shall be made without  charge to the Holders
thereof  for any  documentary  stamp or  similar  taxes  that may be  payable in
respect of the issue or delivery of such certificate,  provided that the Company
shall not be  required  to pay any tax that may be  payable  in  respect  of any
transfer  involved in the  issuance and  delivery of any such  certificate  upon
conversion  in a name  other  than  that of the  Holder  of such  Debentures  so
converted  and the  Company  shall  not be  required  to issue or  deliver  such
certificates  unless or until the  person or  persons  requesting  the  issuance
thereof  shall  have paid to the  Company  the  amount of such tax or shall have
established to the satisfaction of the Company that such tax has been paid.

               (g) Any and all notices or other  communications or deliveries to
be provided  by the  Holders of the  Debentures  hereunder,  including,  without
limitation, any Conversion Notice, shall be in writing and delivered personally,
by facsimile,  sent by a nationally recognized overnight courier service or sent
by certified or registered mail, postage prepaid,  addressed to the Company,  at
3400 Garrett Drive,  Santa Clara,  California 95054 (facsimile number (408) 727-
8778),  attention  Chief Financial  Officer,  or such other address or facsimile
number as the Company  may  specify  for such  purposes by notice to the Holders
delivered  in  accordance  with  this  Section.  Any and all  notices  or  other
communications or deliveries to be provided by the Company hereunder shall be in
writing and delivered personally,  by facsimile, sent by a nationally recognized
overnight  courier  service or sent by certified  or  registered  mail,  postage
prepaid,  addressed to each Holder of the Debentures at the facsimile  telephone
number or address of such Holder appearing on the books of the Company, or if no
such facsimile  telephone number or address  appears,  at the principal place of
business  of the  holder.  Any  notice  or  other  communication  or  deliveries
hereunder shall be deemed given and effective on the earliest of (i) the date of
transmission,  if such notice or communication is delivered via facsimile at the

<PAGE>


facsimile  telephone  number  specified in this Section  prior to 7:00 p.m. (New
York City time), (ii) the date after the date of transmission, if such notice or
communication  is delivered  via  facsimile at the  facsimile  telephone  number
specified in this Section  later than 7:00 p.m. (New York City time) on any date
and earlier than 11:59 p.m.  (New York City time) on such date,  (iii) four days
after  deposit in the United  States mail,  (iv) the Business Day  following the
date of mailing, if send by nationally  recognized overnight courier service, or
(v) upon  actual  receipt  by the party to whom such  notice is  required  to be
given.

               Section 5.    Optional Prepayment.
               (a) The  Company  shall have the right,  exercisable  at any time
upon  thirty  (30)  Trading  Days  prior  written  notice to the  Holders of the
Debentures to be prepaid (the  "Optional  Prepayment  Notice") given at any time
after the 90th day following  the date the  Underlying  Securities  Registration
Statement  has been  declared  effective by the  Commission  (provided  that any
Trading Days that the holders are  prohibited  from  utilizing  such  Underlying
Securities  Registration  Statement to resell Underlying  Shares,  despite their
desire to do so,  shall be added to such 90 day period),  to prepay,  from funds
legally available therefor at the time of such prepayment, all or any portion of
the  outstanding  principal  amount of the Debentures  which have not previously
been repaid or for which  Conversion  Notices have not previously been delivered
hereunder, at a price equal to the Optional Prepayment Price (as defined below).
Any such  prepayment  by the  Company  shall be in cash and shall be free of any
claim of  subordination.  The  Holders  shall have the right to tender,  and the
Company shall honor, Conversion Notices delivered prior to the expiration of the
thirtieth  (30th)  Trading  Day after  receipt  by the  Holders  of an  Optional
Prepayment  Notice for such  Debentures  (such date,  the  "Optional  Prepayment
Date").

               (b) If any portion of the Optional  Prepayment Price shall not be
paid by the Company by the Optional  Prepayment  Date,  the Optional  Prepayment
Price shall be  increased  by 15% per annum (to accrue  daily) until paid (which
amount shall be paid as liquidated  damages and not as a penalty).  In addition,
if any portion of the  optional  Prepayment  Price  remains  unpaid  through the
expiration  of  the  Optional  Prepayment  Date,  the  Holder  subject  to  such
prepayment  may elect by  written  notice to the  Company  to either  (i) demand
conversion in accordance with the formula and the time period therefor set forth
in Section 4 of any portion of the principal  amount of Debentures for which the
Optional Prepayment Price, plus accrued liquidated damages thereof, has not been
paid in full (the  "Unpaid  Prepayment  Principal  Amount"),  in which event the
applicable  Per Share  Market  Value shall be the lower of the Per Share  Market
Value calculated on the Optional  Prepayment Date and the Per Share Market Value
as of the Holder's  written demand for conversion,  or (ii) invalidate ab initio

<PAGE>

such  optional  redemption,  notwithstanding  anything  herein  contained to the
contrary.  If the Holder elects option (i) above, the Company shall within three
(3) Trading Days such election is deemed  delivered  hereunder to the Holder the
shares of Common Stock issuable upon conversion of the Unpaid  Prepayment Amount
subject  to  such  conversion  demand  and  otherwise  perform  its  obligations
hereunder with respect thereto;  or, if the Holder elects option (ii) above, the
Company shall promptly,  and in any event not later than three Trading Days from
receipt of notice of such election,  return to the Holder new Debentures for the
full Unpaid Prepayment  Principal Amount.  If, upon an election under option (i)
above,  the Company  fails to deliver the shares of Common Stock  issuable  upon
conversion of the Unpaid Prepayment  Principal Amount prior to the fifth Trading
Day after such election is deemed delivered hereunder,  the Company shall pay to
the Holder in cash, as liquidated  damages and not as a penalty,  $1,500 per day
until the Company delivers such Common Stock to the Holder.

               (c) The  "Optional  Prepayment  Price" for any  Debentures  shall
equal the sum of (i) the principal amount of Debentures to be prepaid,  plus all
accrued and unpaid interest thereon,  divided by the Conversion Price on (x) the
Optional  Prepayment Date or (y) the date the Optional  Prepayment Price is paid
in full, whichever is less,  multiplied by the Average Price on (x) the Optional
Prepayment Date or (y) the date the Optional  Prepayment  Price is paid in full,
whichever is greater, and (ii) all other amounts, expenses, costs and liquidated
damages due in respect of such principal amount.

               Section 6.    Definitions. For the purposes hereof, the following
terms shall have the following meanings:

               "Applicable  Percentage" means (i) 80% for any conversion honored
prior to the 120th  day  after  the  Original  Issue  Date,  (ii)  77.5% for any
conversion  honored  on or after  the 120th day and prior to the 150th day after
the Original Issue Date,  and (iii) 75% for any  conversion  honored on or after
the 150th day after the Original Issue Date. For purposes  hereof,  a conversion
is deemed to have been  honored  when the  shares of Common  Stock  issuable  in
respect of such  conversion  are received by the Holder in  accordance  with the
terms hereof.

               "Average  Price" on any date means the average  Per Share  Market
Value for the five (5) Trading Days immediately preceding such date.

               "Business Day" means any day except Saturday,  Sunday and any day
which shall be a legal  holiday or a day on which  banking  institutions  in the
State of New York are authorized or required by law or other  government  action
to close.

               "Common Stock" means the Company's common stock,  $.001 par value
per share,  and stock of any other  class into which such  shares may  hereafter
have been reclassified or changed.

               "Mandatory  Prepayment Amount" for any Debentures shall equal the
sum of (i) the principal  amount of  Debentures to be prepaid,  plus all accrued
and unpaid interest thereon, divided by the Conversion Price on (x) the date the
Mandatory Prepayment Amount is demanded or (y) the date the Mandatory Prepayment
Amount is paid in full,  whichever is less,  multiplied  by the Average Price on
(x) the date the  Mandatory  Prepayment  Amount is  demanded or (y) the date the
Mandatory  Prepayment Amount is paid in full, whichever is greater, and (ii) all
other amounts,  costs,  expenses and  liquidated  damages due in respect of such
Debentures.

               "Original  Issue Date" shall mean the date of the first  issuance
of any  Debentures  regardless  of the number of transfers of any  Debenture and
regardless  of the number of  instruments  which may be issued to evidence  such
Debenture.

               "Per Share  Market  Value" on any  particular  date means (a) the
closing  bid  price  per  share of the  Common  Stock on such  date as quoted by
Bloomberg Information Services, Inc. ("Bloomberg"),  or similar organizations or
agencies  succeeding to its functions of reporting  prices, or (b) if the Common
Stock is no longer  reported by  Bloomberg,  or such  similar  organizations  or
agencies,  such closing bid price per share shall be  determined by reference to
"Pink Sheet"  quotes for the relevant  conversion  period as  determined in good
faith by the Holder or (c) if the Common Stock is not then publicly traded,  the
fair  market  value of a share of Common  Stock as  determined  by an  appraiser
selected  in  good  faith  by the  Holders  of a  majority  in  interest  of the
Debentures.

               "Person"  means a  corporation,  an  association,  a partnership,
organization,  a business, an individual,  a government or political subdivision
thereof or a governmental agency.

               "Purchase  Agreement"  means the Convertible  Debenture  Purchase
Agreement,  dated as of the  Original  Issue  Date,  between the Company and the
original Holder of Debentures, as amended, modified or supplemented from time to
time in accordance with its terms.

               "Registration  Rights  Agreement" means the  Registration  Rights
Agreement,  dated as of the  Original  Issue  Date,  between the Company and the
original Holder of Debentures, as amended, modified or supplemented from time to
time in accordance with its terms.

               "Security  Agreement" means the Security  Agreement,  dated as of
June 29, 1998,  between the Company and the original  Holder of  Debentures,  as
amended on August 28, 1998 and on the Original Issue Date, and as may be further
amended modified or supplemented from time to time in accordance with its terms.

               "Trading Day" means (a) a day on which the Common Stock is traded
on the Nasdaq Stock Market or other stock exchange or market on which the Common
Stock has been  listed,  or (b) if the Common  Stock is not listed on the Nasdaq
Stock Market or any stock exchange or market, a day on which the Common Stock is
traded on the over-the-counter market, as reported by the OTC Bulletin Board, or
(c) if the Common Stock is not quoted on the OTC Bulletin  Board, a day on which
the Common  Stock is quoted on the  over-the-counter  market as  reported by the
National  Quotation Bureau  Incorporated (or any similar  organization or agency
succeeding its functions of reporting prices).

<PAGE>


               "Underlying  Shares"  means the shares of Common  Stock  issuable
upon  conversion of Debentures or as payment of interest in accordance  with the
terms hereof.

               "Underlying   Securities    Registration   Statement"   means   a
registration  statement  meeting the  requirements set forth in the Registration
Rights  Agreement,  covering  among  other  things the resale of the  Underlying
Shares and naming the Holder as a "selling stockholder" thereunder.

               Section 7. Except as expressly  provided herein,  no provision of
this  Debenture  shall alter or impair the  obligation of the Company,  which is
absolute and  unconditional,  to pay the principal of,  interest and  liquidated
damages (if any) on, this  Debenture at the time,  place,  and rate,  and in the
coin or currency,  herein  prescribed.  This Debenture is a direct obligation of
the Company.  This Debenture  ranks pari passu with all other  Debentures now or
hereafter  issued  under  the  terms  set forth  herein.  The  Company  may only
voluntarily  prepay  the  outstanding  principal  amount  on the  Debentures  in
accordance with Section 5 hereof.

               Section 8. This Debenture  shall not entitle the Holder to any of
the rights of a stockholder of the Company,  including without  limitation,  the
right to vote, to receive dividends and other  distributions,  or to receive any
notice of, or to attend,  meetings of stockholders  or any other  proceedings of
the Company,  unless and to the extent  converted into shares of Common Stock in
accordance with the terms hereof.

               Section 9. If this Debenture shall be mutilated,  lost, stolen or
destroyed,  the Company shall execute and deliver,  in exchange and substitution
for  and  upon  cancellation  of a  mutilated  Debenture,  or in  lieu  of or in
substitution for a lost, stolen or destroyed debenture,  a new Debenture for the
principal amount of this Debenture so mutilated,  lost,  stolen or destroyed but
only upon  receipt  of  evidence  of such  loss,  theft or  destruction  of such
Debenture,  and of the  ownership  hereof,  and  indemnity,  if  requested,  all
reasonably satisfactory to the Company.

               Section 10. This Debenture  shall be governed by and construed in
accordance  with the laws of the State of New  York,  without  giving  effect to
conflicts  of laws  thereof.  The  Company  hereby  irrevocably  submits  to the
non-exclusive  jurisdiction  of the state and federal courts sitting in the City
of New York, borough of Manhattan, for the adjudication of any dispute hereunder
or in  connection  herewith  or with  any  transaction  contemplated  hereby  or
discussed herein, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding,  any claim that it is not personally  subject to the
jurisdiction  of any such  court,  or that such suit,  action or  proceeding  is
improper.  The Company hereby irrevocably waives personal service of process and
consents  to process  being  served in any such suit,  action or  proceeding  by
receiving  a copy  thereof  sent to the  Company  at the  address  in effect for
notices  to it  under  this  instrument  and  agrees  that  such  service  shall
constitute good and sufficient  service of process and notice  thereof.  Nothing
contained  herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law.

               Section  11. Any waiver by the  Company or the Holder of a breach
of any provision of this Debenture  shall not operate as or be construed to be a
waiver  of any  other  breach of such  provision  or of any  breach of any other
provision of this Debenture.  The failure of the Company or the Holder to insist
upon strict  adherence to any term of this  Debenture  on one or more  occasions
shall not be  considered a waiver or deprive that party of the right  thereafter
to  insist  upon  strict  adherence  to  that  term  or any  other  term of this
Debenture. Any waiver must be in writing.

               Section  12.  If any  provision  of this  Debenture  is  invalid,
illegal or unenforceable,  the balance of this Debenture shall remain in effect,
and if any provision is  inapplicable  to any person or  circumstance,  it shall
nevertheless remain applicable to all other persons and circumstances.

               Section 13.  Whenever any payment or other  obligation  hereunder
shall be due on a day other than a Business  Day,  such payment shall be made on
the next succeeding Business Day (or, if such next succeeding Business Day falls
in the next  calendar  month,  the  preceding  Business  Day in the  appropriate
calendar month).

               Section 14. The payment  obligations under this Debenture and the
obligations  of the Company to the Holder  arising upon the conversion of all or
any of the  Debentures  in  accordance  with the  provisions  hereof are secured
pursuant to the Security Agreement.


                          [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                                    SIGNATURE PAGE FOLLOWS]


<PAGE>



               IN  WITNESS   WHEREOF,   the  Company  has  caused  this  Secured
Convertible Debenture to be duly executed by a duly authorized officer as of the
date first above indicated.


                                   INNOVACOM, INC.




                       By:________________________________
                                      Name:
                                      Title:

Attest:



By:___________________________
   Name:
   Title:



<PAGE>



                                           EXHIBIT A

                                        INNOVACOM, INC

                                     NOTICE OF CONVERSION
                                 AT THE ELECTION OF THE HOLDER

(To be Executed by the Registered Holder
in order to Convert the Debenture)

The undersigned hereby elects to convert Debenture No. D-1 into shares of Common
Stock, $.001 par value per share (the "Common Stock"),  of INNOVACOM,  INC. (the
"Company")  according to the conditions hereof, as of the date written below. If
shares  are to be issued in the name of a person  other  than  undersigned,  the
undersigned  will pay all transfer  taxes  payable  with respect  thereto and is
delivering  herewith such  certificates and opinions as reasonably  requested by
the Company in  accordance  therewith.  No fee will be charged to the holder for
any conversion, except for such transfer taxes, if any.

Conversion calculations:                                                     
                                   Date to Effect Conversion


                                   Principal Amount of Debentures to be
                                   Converted


                                   Number of shares of Common Stock to be Issued


                                   Applicable Conversion Price


                                   Signature


                                   Name


                                   Address