Document:

Exhibit 10.2

ASSIGNMENT

It is hereby agreed as of  November 8, 2006 (the “Effective Date”) by
and between ARTISTdirect, Inc., a Delaware corporation (the “Company”), the
parties identified on Schedule A hereto (collectively, “Assignors”), and
The Longview Fund, L.P. (“Longview” or “Assignee”), that in consideration of
the sums described on Schedule A hereto, and for such good and other
valuable consideration paid by Longview to Assignors, Longview is succeeding to
the rights and responsibilities of Assignors with respect to Convertible
Subordinated Notes in the amounts described on Schedule A hereto (“Notes”)
issued by the Company pursuant to a Securities Purchase Agreement dated July
28, 2005, and such related documents together with accrued interest.  The Company and Assignors acknowledge and
agree that the outstanding principal balances of the Notes are as described on Schedule
A.

For the benefit of the Company and Assignors, Longview
as to itself hereby makes all of the representations and warranties made in the
Securities Purchase Agreement and related documents by Assignors as if such
representations were made by Longview as of the Effective Date.  Without limiting the foregoing sentence,
Longview specifically represents and warrants to the Assignors as follows:

1.1           Capacity; Authority; Validity.  Longview has all necessary capacity, power
and authority to enter into this Assignment and the Funds Escrow Agreement
dated as of the date hereof and to perform all the obligations to be performed
by the Assignment and Funds Escrow Agreement. 
This Assignment and the Funds Escrow Agreement have been duly
authorized, executed and delivered by Longview and each constitute the legal,
valid and binding obligation of Longview, enforceable against Longview in
accordance with their respective terms.

1.2           No Violation of Law or
Agreement.  Neither the execution or
delivery of this Assignment or the Funds Escrow Agreement by Longview, nor the
consummation of the transaction contemplated thereby by Longview, will violate
any judgment, order, writ, decree, law, rule or regulation or agreement
applicable to Longview.

1.3           No Consents.  All consents, approvals or authorizations of,
or registrations, filings or declarations with, any governmental authority or
any other person, if any, required in connection with the purchase of the Notes
by Longview, have been obtained by Longview and are in full force and effect.

For the benefit of the Company and Longview, the
Assignors as to themselves hereby make all of the representations and
warranties made in the Securities Purchase Agreement and related documents by
the Assignors as if such representations were made by the Assignors as of the
Effective Date.  Without limiting the
foregoing sentence, the Assignors specifically represent and warrant to
Longview as follows:

2.1           Capacity; Authority; Validity.  The Assignors have all necessary capacity,
power and authority to enter into this Assignment and the Funds Escrow
Agreement dated as of the date hereof and to perform all the obligations to be
performed by the Assignment and Funds Escrow Agreement.  This Assignment and the Funds Escrow
Agreement have been duly authorized, executed and delivered by the Assignors
and each constitute the legal, valid and 

 1
 

 

binding obligation of the Assignors, enforceable
against the Assignors in accordance with their respective terms.

2.2           No Violation of Law or
Agreement.  Neither the execution or
delivery of this Assignment or the Funds Escrow Agreement by the Assignors, nor
the consummation of the transaction contemplated thereby by the Assignors, will
violate any judgment, order, writ, decree, law, rule or regulation or agreement
applicable to the Assignors.

2.3           No Consents.  All consents, approvals or authorizations of,
or registrations, filings or declarations with, any governmental authority or
any other person, if any, required in connection with the purchase of the Notes
by the Assignors, have been obtained by the Assignors and are in full force and
effect.

Assignors represent that, as of the Effective Date,
the Notes being assigned hereby are not subject to any lien, charge or other
encumbrance.

The parties hereby agree that Longview shall be deemed
the party in lieu of Assignors in the Securities Purchase Agreement, and such
related documents, but only in relation to the amount of Notes being
transferred hereby.

Pursuant to Section 19(a) of the Notes, the Company
agrees to reissue to Longview a Note to reflect the transfer and present
outstanding balances as described on Schedule A hereto; provided, however, that, in accordance with Section 2(f) of
the Securities Purchase Agreement, the Company shall not be obligated to
reissue a Note pursuant to this paragraph until Assignors have delivered to the
Company an opinion of counsel, in a generally acceptable form, to the effect
that said Notes to be sold and transferred hereby may be sold or transferred
pursuant to an exemption from registration under the Securities Act of 1933, as
amended (“Transfer Opinion”).

The parties further acknowledge and agree that except
as specifically provided in this Assignment and the attached Supplemental
Agreement and Acknowledgement, the Notes shall remain unchanged in all
respects.

Grushko & Mittman, P.C. is instructed by Longview
and the Assignors to take all actions, release all documents and transfer funds
held by Grushko & Mittman, P.C. to effectuate the above transactions.

	
   

  	
  “Company”

  
	
   

  	
  ARTISTDIRECT,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Robert N.
  Weingarten

  
	
   

  	
   

  	
  Name:

  	
  Robert N.
  Weingarten

  
	
   

  	
   

  	
  Title:

  	
  Chief Financial
  Officer

  

 

 2
 

 

 

	
  “Assignor”

  	
  “Assignee”

  
	
  JLF PARTNERS I,
  LP

  	
  JLF PARTNERS II, LP

  
	
   

  	
   

  

 

	
  By:

  	
  /s/ H. Tran

  	
   

  	
  By:

  	
  /s/ H. Tran

  
	
   

  	
  Name:

  	
  H. Tran

  	
   

  	
   

  	
  Name:

  	
  H. Tran

  
	
   

  	
  Title:

  	
  CFO

  	
   

  	
   

  	
  Title:

  	
  CFO

  

 

	
  “Assignor”

  	
  “Assignee”

  
	
  JLF OFFSHORE FUND, LTD.

  	
  THE LONGVIEW FUND, L.P.

  
	
   

  	
   

  

 

	
  By:

  	
  /s/ H. Tran

  	
   

  	
  By:

  	
  /s/ S. Michael Rudolph

  
	
   

  	
  Name:

  	
  H. Tran

  	
   

  	
   

  	
  Name:

  	
  S. Michael Rudolph

  
	
   

  	
  Title:

  	
  CFO

  	
   

  	
   

  	
  Title:

  	
  CFO – Investment Advisor

  

 

ACKNOWLEDGED:

GRUSHKO & MITTMAN,
P.C.

	
  By:

  	
  /s/ Barbara R. Mittman

  	
   

  	
   

  	
   

  

 3
 

 

SCHEDULE
A TO ASSIGNMENT

 

	
  NAME OF ASSIGNOR

  	
   

  	
  FACE VALUE

  OF NOTES

  BEING

  ASSIGNED

  	
   

  	
  ISSUANCE

  DATE OF

  NOTES

  BEING

  ASSIGNED

  	
   

  	
  BALANCE

  ON NOTES

  BEING

  ASSIGNED

  	
   

  	
  PURCHASE

  PRICE OF

  NOTE

  	
   

  
	
  JLF PARTNERS I,
  LP

  	
   

  	
  $

  	
  593,000.00

  	
   

  	
  July 28, 2005

  	
   

  	
  $

  	
  306,000.00

  	
   

  	
  $

  	
  493,999.23

  	
   

  
	
  JLF PARTNERS II,
  LP

  	
   

  	
  $

  	
  44,000.00

  	
   

  	
  July 28, 2005

  	
   

  	
  $

  	
  17,000.00

  	
   

  	
  $

  	
  41,999.23

  	
   

  
	
  JLF OFFSHORE FUND, LTD.

  	
   

  	
  $

  	
  863,000.00

  	
   

  	
  July 28, 2005

  	
   

  	
  $

  	
  376,000.00

  	
   

  	
  $

  	
  861,999.24

  	
   

  

 

 

 4Exhibit 10.3

SUPPLEMENTAL AGREEMENT AND ACKNOWLEDGEMENT

ARTISTdirect, Inc., a Delaware corporation (the “Company”),
acknowledges the foregoing Assignment dated November 8, 2006 (the “Effective
Date”) and consents to the assignment and sale of the Notes by the parties
identified on Schedule A to the Assignment (collectively, “Assignors”)
to The Longview Fund, L.P. (“Longview”).

The Company hereby agrees to reasonably cooperate with
Assignors and Longview to fulfill the objective of the Assignment and further
recognizes that, following written notice from the Escrow Agent of the full
performance by the parties under the terms of that certain Funds Escrow
Agreement dated as of the date hereto, Longview shall be deemed as successor to
the Assignors as to all rights pertinent to the Notes and interest pursuant to
the terms of that certain Securities Purchase Agreement dated July 28, 2005.

The Company and Longview mutually agree that the 9.99%
conversion limitation provision contained in Section 3(d) of the Notes held by
Assignors shall be amended to provide for a 4.99% conversion limitation.  In accordance with the terms of Section 3(d)
of said Notes, such amendment shall be effective on January 1, 2007.

In accordance with Section 3(k) of that certain
Registration Rights Agreement dated July 28, 2005, the Company hereby agrees,
as soon as reasonably practicable, and following receipt by the Company of the
Transfer Opinion referenced in the Assignment, to prepare and file a prospectus
supplement to the resale registration statement on Form SB-2, as amended, to
replace Assignors with Longview as the “Selling Stockholder” disclosed therein.

The Company hereby represents and warrants that to its
knowledge there are no defenses to the payment of the Note principal and interest
or any other sum that has or may accrue or be payable pursuant to the Notes and
interest or the documents delivered together therewith or related thereto.

	
  

  	
  ARTISTDIRECT, INC.

  
	
   

  	
   

  

 

	
  

  	
  By:

  	
  /s/ Robert N. Weingarten

  
	
   

  	
   

  	
  Name:

  	
  Robert N. Weingarten

  
	
   

  	
   

  	
  Title:

  	
  Chief Financial Officer

  

 

	
  

  	
  THE LONGVIEW FUND, L.P.

  
	
   

  	
   

  

 

	
  

  	
  By:

  	
  /s/ S. Michael Rudolph

  
	
   

  	
   

  	
  Name:

  	
  S. Michael Rudolph

  
	
   

  	
   

  	
  Title:

  	
  CFO – Investment Advisor

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]