Document:

<PAGE>

                                                               EXECUTION VERSION

            FIFTH AMENDMENT, CONSENT AND AGREEMENT, dated as of March 31, 2000
(this "Fifth Amendment"), to the Credit Agreement dated as of October 28, 1997
(as heretofore amended, supplemented or otherwise modified, the "Credit
Agreement"), among CARIBINER INTERNATIONAL, INC., a Delaware corporation (the
"Parent"), CARIBINER, INC., a New York corporation (the "Company"; together with
the Parent, the "Borrowers"), the several banks and other financial institutions
from time to time parties thereto (the "Lenders"), THE CHASE MANHATTAN BANK, as
Administrative Agent for the Lenders (in such capacity, the "Administrative
Agent") and MERRILL LYNCH CAPITAL CORPORATION, as Syndication Agent (in such
capacity, the "Syndication Agent"; collectively with the Administrative Agent,
the "Agents").

                            W I T N E S S E T H :
                            - - - - - - - - - -

            WHEREAS, the Borrowers, the Lenders and the Agents are parties to
the Credit Agreement, pursuant to which the Lenders have agreed to make, and
have made, certain loans and other extensions of credit to the Borrowers on the
terms and subject to the conditions thereof;

            WHEREAS, pursuant to the Fourth Amendment to the Credit Agreement
dated as of December 23, 1999, the Lenders waived compliance with certain
financial covenants contained in the Credit Agreement and consented to the AV
Sale;

            WHEREAS, the Borrowers have determined to defer the AV Sale
indefinitely and instead have proposed to Dispose of (a) certain assets of the
domestic Loan Parties and the Capital Stock of the Foreign Subsidiaries that
collectively comprise the communications businesses of the Parent and its
Subsidiaries (the "Communications Business") and (b) the Capital Stock of
Melville Exhibition Services Ltd. and certain assets of Corporate Technical
Services Ltd.;

            WHEREAS, the Borrowers have requested that the Lenders consent to
such Dispositions, and in connection therewith, waive compliance by the Debtors
with certain covenants contained in the Credit Agreement and amend certain
provisions of the Credit Agreement; and

            WHEREAS, the Lenders are willing to agree to the requested consents,
waivers and amendments, but only on the terms and subject to the conditions
contained herein;

            NOW THEREFORE, in consideration of the premises and for other good
and valuable consideration, the receipt of which is hereby acknowledged, the
Borrowers, the Lenders and the Administrative Agent hereby agree as follows:

<PAGE>
                                                                               2

            SECTION 1.  DEFINITIONS.

            Capitalized terms used herein and not otherwise defined shall have
their respective meanings set forth in the Credit Agreement.

            SECTION 2.  AMENDMENTS.

            2.1 Amendments to Section 1.01 of the Credit Agreement. (a) Section
1.01 of the Credit Agreement is hereby amended by (i) deleting in their entirety
the definitions of the terms "Applicable Margin", "Consultant", "Interest
Payment Date", "L/C Fee Payment Date" and "Majority Lenders" and (ii) adding the
following new definitions in their proper alphabetical order:

            ""Applicable Margin" means with respect to (a) Eurodollar Loans,
            3.00% and (b) ABR Loans, 2.00%.

            "Communications Business" means the communications businesses of the
            Parent and its Subsidiaries.

            "Consultant" means Policano & Manzo, LLC or another firm or
            individual specializing in providing financial consulting and
            advisory services that is reasonably satisfactory to the Borrowers
            and the Administrative Agent.

            "Deferred Amendment Fee Letters" shall mean the collective reference
            to the letters from the Borrowers to each Lender, substantially in
            the form of Exhibit A to the Fifth Amendment, as amended,
            supplemented or otherwise modified from time to time.

            "Fifth Amendment" shall mean the Fifth Amendment, Consent and
            Agreement, dated as of March 31, 2000, to this Agreement.

            "Fifth Amendment Effective Date" has the meaning assigned thereto in
            the Fifth Amendment.

            "Interest Payment Date" means (a) with respect to any ABR Loan, the
            last day of each month and (b) with respect to any Eurodollar Loan,
            the last day of the Interest Period applicable to the Borrowing of
            which such Loan is a part and, in the case of a Eurodollar Borrowing
            with an Interest Period of more than one months' duration, each day
            prior to the last day of such Interest Period that occurs at
            intervals of one months' duration after the first day of such
            Interest Period.

            "L/C Fee Payment Date" means the last day of each month.

<PAGE>
                                                                               3

            "Majority Lenders" means, at any time, the holders of more than 66
            2/3% of the sum of the Available Commitments, the Term Loan Exposure
            and the Revolving Credit Exposure of all Lenders at such time.".

            (b) Section 1.01 of the Credit Agreement is hereby further amended
by deleting the provisos to the definitions of the terms "Asset Sale" and
"Recovery Event".

            (c) Section 1.01 of the Credit Agreement is hereby further amended
by (i) deleting the word "and" immediately following subsection (d) of
definition of the term "Consolidated Unadjusted EBITDA" and inserting a comma in
lieu thereof and (ii) inserting the following phrase immediately after
subsection (e) of said definition:

            "and (f) corporate transition costs of the type described in the
            definition of Net Cash Proceeds in an amount not to exceed
            $3,000,000.".

            (d) Section 1.01 of the Credit Agreement is hereby further amended
by inserting the word "further" immediately after the word "provided" in the
existing proviso to the definition of the term "Interest Period" and inserting
the following new proviso immediately before the existing proviso to said
definition:

            "provided that the interest period for all Eurodollar Loans
            borrowed, continued or converted at any time after the Fifth
            Amendment Effective Date shall be one month;"

            (e) Section 1.01 of the Credit Agreement is hereby further amended
by inserting in the definition of the term "Net Cash Proceeds" the following new
phrase immediately after the word "Subsidiaries" at the end of clause (a) of
said definition:

            "and, in the case of Asset Sales relating to the Communications
            Business, Asset Sales relating to Corporate Technical Services Ltd.
            or the Capital Stock of Melville Exhibition Services Ltd., market
            shutdown costs and corporate transition costs arising in connection
            with such Asset Sales, in each case as described during the March
            15, 2000 Lender meeting,".

            (f) Section 1.01 of the Credit Agreement is hereby further amended
by inserting the following parenthetical after the word "fees" where it appears
in the eleventh line of the definition of the term "Obligations":

            "(including all fees payable under the Deferred Amendment Fee
            Letters)".

            2.2 Amendment to Section 2.03 of the Credit Agreement. Section 2.03
of the Credit Agreement is hereby amended by inserting in the second line of
paragraph (a) of said Section the phrase "prior to the Fifth Amendment Effective
Date," immediately before the words "swingline loans".

<PAGE>
                                                                               4

            2.3 Amendment to Section 2.04 of the Credit Agreement. (a) Section
2.04 of the Credit Agreement is hereby amended by deleting paragraph (b) of said
Section in its entirety and inserting in lieu thereof the following new
paragraph (b):

            "(b) The Term Loans of each Term Loan Lender shall be due and
            payable on October 1, 2001.".

            (b) Section 2.04 of the Credit Agreement is hereby further amended
by deleting paragraph (c) of said Section in its entirety and inserting in lieu
thereof the following new paragraph (c):

            "(c) The Borrowers hereby, jointly and severally, unconditionally
            promise to pay to the Administrative Agent for the account of the
            each Term Loan Lender the principal amount of each Term Loan of such
            Term Loan Lender when due and payable as set forth in paragraph (b)
            above or on such other dates and in such other amounts as may be
            required from time to time pursuant to this Agreement. The Borrowers
            hereby, jointly and severally, further agree to pay interest on the
            unpaid principal amount of the Term Loans from time to time
            outstanding from the date hereof until payment in full thereof at
            the rates per annum, and on the dates, set forth in Section 2.09.".

            2.4 Amendment to Section 2.06 of the Credit Agreement. (a) Section
2.06 of the Credit Agreement is hereby amended by deleting paragraphs (d) and
(e) of said Section in their entirety and inserting in lieu thereof the
following new paragraphs (d) and (e):

            "(d)  [Intentionally Omitted.]

             (e)  [Intentionally Omitted.]".

            (b) Section 2.06 of the Credit Agreement is hereby further amended
by deleting the phrases "first," and ", second," from paragraph (h) of said
Section.

            (c) Section 2.06 of the Credit Agreement is hereby further amended
by deleting from paragraph (i) of said Section (i) the phrases "first," and ",
second," and (ii) the proviso to said paragraph.

            (d) Section 2.06 of the Credit Agreement is hereby further amended
by inserting the following sentence at the beginning of paragraph (l) of said
Section:

            "Any prepayments to the Term Loans or reductions of the Revolving
            Credit Commitments required to be made pursuant to Section 2.06(h)
            or (i) of this Agreement shall be applied ratably in accordance with
            the Term Loans then

<PAGE>
                                                                               5

            outstanding and the Revolving Credit Commitments then in effect as
            of the date of any such prepayment or reduction."

            2.5 Amendment to Section 2.09 of the Credit Agreement. (a) Section
2.09 of the Credit Agreement is hereby amended by (i) deleting the word
"Accrued" at the beginning paragraph (d) of said Section and (ii) inserting in
lieu thereof the phrase "Except as otherwise provided under Section 2.09(f),
accrued".

            (b) Section 2.09 of the Credit Agreement is hereby further amended
by deleting the existing paragraph (c) of said Section an inserting in lieu
thereof the following new paragraph (c):

            "(c) Notwithstanding the foregoing, (i) at any time after the
            occurrence and during the continuance of an Event of Default, the
            Loans shall bear an interest rate per annum equal to 2% plus the
            rate applicable to ABR Loans as provided above, and (ii) if any
            interest on any Loan or any fee or other amount payable by the
            Borrowers (other than principal) hereunder is not paid when due
            (whether at stated maturity, by acceleration or otherwise), such
            overdue amount shall bear interest at a rate per annum of 2% plus
            the rate applicable to ABR Loans as provided above.".

            (c) Section 2.09 of the Credit Agreement is hereby further amended
by inserting the following new paragraph (f) at the end of said Section:

            "(f) In addition to the interest otherwise provided for under this
            Section, the Loans shall bear additional interest at a rate per
            annum equal to 1%. Accrued interest under this paragraph shall be
            payable in arrears on the earliest to occur of (i) the Revolving
            Credit Termination Date, (ii) the date the Loans become due and
            payable in accordance with Section 8 hereof and (iii) the date on
            which all of the Obligations shall have been paid in full and the
            Commitments shall have been terminated.".

            2.6 Amendment to Section 3.01 of the Credit Agreement. Section 3.01
of the Credit Agreement is hereby amended by inserting into paragraph (a) of
said Section the parenthetical "(or at any time after the consummation of the
Disposition of the Communications Business, $2,500,000)" at the end of
subsection (i) of the proviso.

            2.7 Amendment to Section 4.04 of the Credit Agreement. Section 4.04
of the Credit Agreement is hereby amended by deleting paragraph (b) of said
Section in its entirety and inserting in lieu thereof the following new
paragraph (b):

            "(b) Since the Fifth Amendment Effective Date, there has occurred no
            event or circumstance which has had a Material Adverse Effect.".

<PAGE>
                                                                               6

            2.8 Amendment to Section 4.18 of the Credit Agreement. Section 4.18
of the Credit Agreement is hereby amended by deleting said Section in its
entirety and inserting in lieu thereof the following new Section 4.18:

            "SECTION 4.18.  [Intentionally Omitted.]".

            2.9 Amendment to Section 6.01 of the Credit Agreement. Section 6.01
of the Credit Agreement is hereby amended by deleting paragraph (j) of said
Section in its entirety and inserting in lieu thereof the following new
paragraph (j):

            "(j)  [Intentionally Omitted.]".

            2.10 Amendment to Section 6.15 of the Credit Agreement. Section 6.15
of the Credit Agreement is hereby amended by deleting said Section in its
entirety and inserting in lieu thereof the following new Section 6.15:

            "SECTION 6.15. Consultant; Investment Banker; Management Reports.
            (a) The Borrowers shall at all times continue the retention of a
            Consultant on terms and with a scope of retention reasonably
            satisfactory to the Borrowers and the Administrative Agent.

            (b) Promptly following the delivery of the financial statements
            referred to in Section 6.01(c), the Borrowers shall make their Chief
            Financial Officer available to the Lenders on a mutually convenient
            basis to provide a report on and to discuss such financial
            statements.".

            2.11 Amendments to Section 7.01 of the Credit Agreement. (a) Section
7.01 of the Credit Agreement is hereby amended by deleting paragraphs (a) and
(b) of said Section in their entirety and inserting in lieu thereof the
following new paragraphs (a) and (b):

            "(a)  [Intentionally Omitted.]

            (b)  [Intentionally Omitted.]".

            (b) Section 7.01 of the Credit Agreement is hereby further amended
by deleting paragraph (c) of said Section in its entirety and inserting in lieu
thereof the following new paragraph (c):

            "(c) Consolidated Unadjusted EBITDA. Permit Consolidated Unadjusted
            EBITDA for any period set forth below to be less than the amount set
            forth opposite such period:

<PAGE>
                                                                               7

                Period                                  Amount
                ------                                  ------

          10/01/99 - 12/31/99                        $10,000,000

          10/01/99 - 3/31/00                         $23,000,000

          10/01/99 - 6/30/00                         $42,000,000

          10/01/99 - 9/30/00                         $50,000,000

          1/01/00 - 12/31/00                         $50,000,000

  Any period of four consecutive fiscal              $55,000,000;
  quarters ending on or after 3/31/01

            provided that for purposes of determining compliance with this
            covenant Consolidated Unadjusted EBITDA shall be calculated without
            reference to the Consolidated Unadjusted EBITDA of assets held for
            sale (including the Communications Business, certain assets of
            Corporate Technical Services Ltd. and the Capital Stock of Melville
            Exhibition Services Ltd.), discontinued operations or assets or
            operations similarly classified.".

            (c) Section 7.01 of the Credit Agreement is hereby further amended
by deleting paragraph (d) of said Section in its entirety and inserting in lieu
thereof the following new paragraph (d):

            "(d) Capital Expenditures. Permit Capital Expenditures to exceed
            $25,000,000 in any period comprised of two consecutive fiscal
            quarters or $40,000,000 in any period comprised of four consecutive
            fiscal quarters commencing with fiscal quarter beginning January 1,
            2000.".

            2.12 Amendment to Section 7.02 of the Credit Agreement. (a) Section
7.02 of the Credit Agreement is hereby amended by deleting paragraph (f) of said
Section in its entirety and inserting in lieu thereof the following new
paragraph (f):

            "(f)  [Intentionally Omitted.]".

            (b) Section 7.02 of the Credit Agreement is hereby further amended
by (i) inserting into paragraph (j) of said Section the phrase "incurred prior
to the Fifth Amendment Effective Date" immediately after the word "above" in the
second line of said paragraph and (ii) deleting the proviso to said paragraph.

            2.13 Amendment to Section 7.03 of the Credit Agreement. Section 7.03
of the Credit Agreement is hereby amended (i) by inserting into paragraph (p) of
said Section the phrase "such Liens first arose and the related Indebtedness
first incurred prior to the Fifth Amendment Effective Date" immediately after
the word "as" in the second line of said paragraph and (ii)

<PAGE>
                                                                               8

deleting the phrase "the aggregate principal amount of the Indebtedness so
secured does not exceed $5,000,000 at any time outstanding." from said
paragraph.

            2.14 Amendment to Section 7.07 of the Credit Agreement. (a) Section
7.07 of the Credit Agreement is hereby amended by deleting paragraph (e) of said
Section in its entirety and inserting in lieu thereof the following new
paragraph (e):

            "(e)  [Intentionally Omitted.]".

            (b) Section 7.07 of the Credit Agreement is hereby further amended
by (i) inserting into paragraph (h) of said Section the phrase "first made prior
to the Fifth Amendment Effective Date" immediately after the word "business" in
the second line of said paragraph and (ii) deleting the remainder of said
paragraph.

            2.15 Amendment to Section 10.01 of the Credit Agreement. Section
10.01 of the Credit Agreement is hereby amended by inserting the following
phrase at the end of the proviso to the second sentence of said Section:

            "or (iv) amend or modify Section 7.01(c), 7.06 or paragraph (k) of
            Article VIII of the Credit Agreement or provide any consent or
            waiver with respect to such Sections without the written consent of
            Lenders holding at least 75% of the sum of the Available
            Commitments, the Term Loan Exposure and the Revolving Credit
            Exposure at the time of any such amendment, modification, consent or
            waiver.".

            2.16 Amendment to Section 10.06 of the Credit Agreement. Section
10.06 of the Credit Agreement is hereby amended by deleting from paragraph (c)
of said Section (i) the phrase "each of the Parent and" from the fifth and
twelfth lines of said paragraph and (ii) the second proviso to the first
sentence of said paragraph.

            SECTION 3.  CONSENTS.

            3.1 Consent to Communications Sale. The Lenders hereby consent under
Sections 2.06, 7.05, 7.06 and 7.13 of the Credit Agreement to the Disposition of
the Communications Business; provided that (a) such consent shall automatically
terminate and be of no force or effect on May 15, 2000, unless on or prior to
such date the Borrowers (or their applicable Subsidiaries) shall have
consummated such Disposition on terms that generate not less than $79,000,000 of
Net Cash Proceeds, and (b) notwithstanding anything to the contrary contained in
Section 2.06(i) of the Credit Agreement, 75% of the Net Cash Proceeds of such
Disposition (determined without regard to any amounts deposited into any escrow
required pursuant to the definitive documentation relating to such Disposition
and which amounts are payable to the Borrowers upon release), are applied to the
prepayment of the Term Loans and the reduction of the Revolving Credit
Commitments in accordance with Sections 2.06(i) and (l) of the Credit Agreement.

<PAGE>
                                                                               9

            3.2 Consent to Melville Sale. The Lenders hereby consent under
Sections 2.06, 7.05, 7.06 and 7.13 of the Credit Agreement to the Disposition of
the Capital Stock of Melville Exhibition Services Ltd. and certain assets of
Corporate Technical Services Ltd.; provided that (a) such consent shall
automatically terminate and be of no force or effect on May 15, 2000, unless on
or prior to such date the Borrowers (or their applicable Subsidiaries) shall
have consummated such Disposition on terms that generate not less than
$35,000,000 of Net Cash Proceeds, and (b) notwithstanding anything to the
contrary contained in Section 2.06(i) of the Credit Agreement, 75% of the Net
Cash Proceeds of such Disposition are applied to the prepayment of the Term
Loans and the reduction of the Revolving Credit Commitments in accordance with
Sections 2.06(i) and (l) of the Credit Agreement.

            3.3 Withdrawal of Consent to A/V Sale. The consent for the A/V Sale,
as granted under the Fourth Amendment to the Credit Agreement, is hereby
withdrawn and of no further force or effect.

            SECTION 4.  AGREEMENTS.

            4.1 Engagement of an Investment Banker. The Borrowers hereby agree
(a) to retain no later than June 1, 2001, Salomon Smith Barney, or another firm
or individual specializing in providing investment banking services that is
reasonably satisfactory to the Borrowers and the Administrative Agent, on terms
reasonably satisfactory to the Borrowers and the Administrative Agent, for the
purposes of evaluating the Borrowers' strategic and debt reduction alternatives
and (b) to cause such investment banker to prepare and deliver to the Lenders a
written report and make an oral presentation thereon to the Lenders no later
than August 31, 2001.

            4.2 Limitation on Optional Prepayments and Commitment Reductions.
The Borrowers hereby agree that, notwithstanding anything to the contrary
contained in the Credit Agreement, from and after the Fifth Amendment Effective
Date, the Borrower shall not have the right to, and shall not, make any
voluntary prepayments of the Term Loans or permanent reductions of the Revolving
Credit Commitments except to the extent that any such prepayment of the Term
Loans or reduction of the Revolving Credit Commitments is accompanied by a
prepayment or reduction of the other, as the case may be, with such prepayment
and reduction being in amounts that reflect equal percentages of the Revolving
Credit Commitment in effect and the Term Loans outstanding as of the date of any
such prepayment and reduction; provided that nothing herein shall be deemed to
prevent the Borrowers from borrowing, prepaying and reborrowing Revolving Credit
Loans in accordance with, and subject to the terms and conditions of, the Credit
Agreement.

            4.3 Cash Management. (a) From and after the Fifth Amendment
Effective Date, the Borrowers shall maintain a system of cash management that
concentrates available funds on a daily basis in an account or accounts
maintained with the Administrative Agent. In connection with such cash
management system, the Borrowers shall deliver to the Administrative Agent as
soon as available, but in any event by May 15, 2000, (x) a duly executed cash
collateral and administration agreement, in form and substance reasonably
satisfactory to the Administrative

<PAGE>
                                                                              10

Agent, governing, among other things, the matters described in the preceding
sentence, (y) lockbox agreements with respect to accounts maintained by the
Borrowers and their domestic Subsidiaries into which domestic accounts
receivable are initially deposited, in form and substance reasonably
satisfactory to the Administrative Agent, duly executed by the respective
bank(s) at which such accounts are maintained and the applicable Loan Party
having an interest in such account and (z) such other agreements and documents,
in form and substance reasonably satisfactory to the Administrative Agent, that
the Administrative Agent reasonably determines are necessary or advisable in
order to evidence or perfect the Administrative Agent's interests in such
accounts and the amounts on deposit therein.

            (b) From and after the Fifth Amendment Effective Date, the Borrowers
shall not permit the aggregate amount on deposit in all accounts and lockboxes
maintained by the Borrowers and their domestic Subsidiaries, other than the
accounts described in paragraph (a) this Section, any other account maintained
with the Administrative Agent and any payroll account, to be greater than
$500,000 at any time.

            4.4 Cash Flow Forecasts. From and after the Fifth Amendment
Effective Date, the Borrowers shall deliver to the Administrative Agent and each
of the Lenders on the second Wednesday of each month, commencing on July 12,
2000, a forecast of the cash flows, cash balances and line availability of the
Borrowers and their Subsidiaries for the period of twelve consecutive calendar
weeks beginning in the week in which the applicable Wednesday occurs.

            4.5 Release. Each of the Borrowers hereby releases and discharges
the Administrative Agent, the Lenders and all of the directors, officers,
employees, agents, attorneys, financial advisors, legal representatives,
successors and assigns of the Administrative Agent or any Lender, from all
claims, counterclaims, setoffs, action and causes of action of any kind or
nature whatsoever, whether known or unknown, that, directly or indirectly, arise
out of, are based upon or in any manner connected with any transaction, event,
circumstances, action, failure to act or occurrence of any sort or type, whether
known or unknown, which occurred, existed, was taken, permitted or begun prior
to the Fifth Amendment Effective Date, in each case, relating to the Credit
Agreement or any other Loan Document, including without limitation any approval
or acceptance given or denied.

            SECTION 5.  MISCELLANEOUS.

            5.1 Representations and Warranties; No Default. (a) After giving
effect to this Fifth Amendment, the Borrowers hereby represent and warrant that
all representations and warranties contained in the Credit Agreement are true
and correct in all material respects as of the date hereof (unless stated to
relate to a specific earlier date, in which case, such representations and
warranties shall be true and correct in all material respects as of such earlier
date) and that no Default or Event of Default shall have occurred and be
continuing or would result from the execution and delivery of this Fifth
Amendment.

<PAGE>
                                                                              11

            (b) The Borrowers further represent and warrant that as of March 29,
2000, each of the Borrowers and the other Loan Parties are truly and justly
indebted to the Agents and the Lenders pursuant to the Loan Documents, in the
principal amount of $450,000,000 plus accrued interest, fees and other amounts
payable pursuant to the Loan Documents, without defense, counterclaim or offset
of any kind.

            5.2 Conditions to Effectiveness of this Fifth Amendment. This Fifth
Amendment shall be effective as of the date first set forth above (the "Fifth
Amendment Effective Date") upon the satisfaction of the following conditions:

            (a) receipt by the Administrative Agent of counterparts hereof duly
executed and delivered by the Borrowers, each Term Loan Lender and Majority
Lenders and consented to by the Loan Parties (other than the Borrowers);

            (b)  receipt by the Administrative Agent of counterparts of
Deferred Amendment Fee Letters for the Lenders, duly executed and delivered
by the Borrowers,

            (c) the payment by the Borrowers of the costs and expenses of the
Administrative Agent owing under Section 10.05 of the Credit Agreement and for
which invoices have been submitted.

            5.3 Limited Effect. Except as expressly amended by this Fifth
Amendment, the Credit Agreement is and shall continue to be in full force and
effect in accordance with its terms, and this Fifth Amendment shall not
constitute the Lenders' consent or indicate their willingness to consent to any
other amendment, modification or waiver of the Credit Agreement or the other
Loan Documents.

            5.4  GOVERNING LAW.  THIS FIFTH AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

            5.5 Counterparts. This Fifth Amendment may be executed by the
parties hereto on one or more counterparts, and all of such counterparts shall
be deemed to constitute one and the same instrument. This Fifth Amendment may be
delivered by facsimile transmission of the relevant signature pages hereof.

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Fifth
Amendment to be executed and delivered by their respective duly authorized
officers as of the date first above written.

                                        CARIBINER INTERNATIONAL, INC.

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: EVP & CFO

                                        CARIBINER, INC.

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: EVP & CFO

<PAGE>

            Each of the undersigned hereby consents to the foregoing Fifth
Amendment and hereby confirms, reaffirms and restates that its obligations under
or in respect of the Credit Agreement and the documents related thereto to which
it is a party are and shall remain in full force and effect after giving effect
to the foregoing Fifth Amendment.

                                        CARIBINER INTELLECTUAL PROPERTY
                                        MANAGEMENT, INC.

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: EVP & CFO

                                        CARIBINER AUDIO VISUAL SERVICES, INC.

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: EVP & CFO

                                        HRI, V.I., INC.

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: EVP & CFO

<PAGE>

                                        VISUAL ACTION HOLDINGS, INC.

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: EVP & CFO

                                        CARIBINER SERVICES LIMITED

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: CFO

                                        CARIBINER EUROPE LIMITED

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: CFO

                                        VISUAL ACTION HOLDINGS LIMITED

                                        By: /s/ Robert F. Burlinson
                                           ----------------------------
                                           Name:  Robert F. Burlinson
                                           Title: Director

<PAGE>

                                        THE CHASE MANHATTAN BANK, individually
                                        and as Administrative Agent

                                        By: /s/ Wendy Weinsier
                                           ----------------------------
                                           Name:  Wendy Weinsier
                                           Title: Vice President

                                        MERRILL LYNCH CAPITAL CORPORATION,
                                        individually and as Syndication Agent

                                        By: /s/ Carol J.E. Feeley
                                           ----------------------------
                                           Name:  Carol J.E. Feeley
                                           Title: Vice President

                                        FLEET NATIONAL BANK
                                        (f/k/a BankBoston, N.A.)

                                        By: /s/ Peter Haley
                                           ----------------------------
                                           Name:  Peter Haley
                                           Title: Vice President

                                        BANKERS TRUST COMPANY

                                        By: /s/ Gina S. Thompson
                                           ----------------------------
                                           Name:  Gina S. Thompson
                                           Title: Vice President

<PAGE>

                                        BANK OF AMERICA, N.A.

                                        By: /s/ Fred A. Zagar
                                           ----------------------------
                                           Name:  Fred A. Zagar
                                           Title: Managing Director

                                        BANK OF HAWAII

                                        By: /s/ Heather Piper
                                           ----------------------------
                                           Name:  Heather Piper
                                           Title: Vice President

                                        THE BANK OF NEW YORK

                                        By: /s/ Edward J. DeSalvio
                                           ----------------------------
                                           Name:  Edward J. DeSalvio
                                           Title: Vice President

                                        THE BANK OF NOVA SCOTIA

                                        By: /s/ Daniel A. Costigan
                                           ----------------------------
                                           Name:  Daniel A. Costigan
                                           Title: Director

                                        BANK POLSKA KASA OPIEKI S.A.
                                        PEKAO S.A. GROUP, NEW YORK BRANCH

                                        By: /s/ Barry W. Henry
                                           ----------------------------
                                           Name:  Barry W. Henry
                                           Title: Vice President

<PAGE>

                                        CREDIT AGRICOLE INDOSUEZ

                                        By: /s/ Richard Manix
                                           ----------------------------
                                           Name:  Richard Manix
                                           Title: First Vice President

                                        By: /s/ Craig Welch
                                           ----------------------------
                                           Name:  Craig Welch
                                           Title: First Vice President

                                        FIRST UNION NATIONAL BANK

                                        By: /s/ Mark B. Felker
                                           ----------------------------
                                           Name:  Mark B. Felker
                                           Title: Senior Vice President

                                        FIR TREE INSTITUTIONAL VALUE FUND

                                        By: /s/ Illegible
                                           ----------------------------
                                           Name:
                                           Title:

                                        FIR TREE VALUE PARTNERS, LLC

                                        By: /s/ Illegible
                                           ----------------------------
                                           Name:
                                           Title:

                                        FIR TREE VALUE FUND

                                        By: /s/ Illegible
                                           ----------------------------
                                           Name:
                                           Title:

<PAGE>

                                        PNC BANK, NATIONAL ASSOCIATION

                                        By: /s/ Jeffrey Blakemore
                                           ----------------------------
                                           Name:  Jeffrey Blakemore
                                           Title: Senior Vice President

                                        THE CHASE MANHATTAN BANK
                                        By:  CHASE SECURITIES, INC., as Agent

                                        By: /s/ Eric S. Rosen
                                           ----------------------------
                                           Name:  Eric S. Rosen
                                           Title: Authorized Signatory

                                        MORGENS WATERFALL HOLDING L.L.C.

                                        By:
                                           ----------------------------
                                           Name:
                                           Title:

                                        VAN KAMPEN PRIME RATE INCOME TRUST
                                        By: Van Kampen Investment Advisory Corp.

                                        By: /s/ Darvin D. Pierce
                                           ----------------------------
                                           Name:  Darvin D. Pierce
                                           Title: Vice President

                                        VAN KAMPEN SENIOR INCOME TRUST
                                        By: Van Kampen Investment Advisory Corp.

                                        By:  /s/ Darvin D. Pierce
                                           ----------------------------
                                           Name:  Darvin D. Pierce
                                           Title: Vice President<PAGE>

================================================================================

                              EMPLOYMENT AGREEMENT

                                 By and Between

                          CARIBINER INTERNATIONAL, INC.

                                       and

                                  ROBERT ELLIS

================================================================================

                               As of April 5, 2000

<PAGE>

                                TABLE OF CONTENTS

                                                                       Page

1.       EMPLOYMENT..........................................................1

2.       DUTIES AND RESPONSIBILITIES OF EMPLOYEE.............................1

3.       EXCLUSIVITY OF SERVICE..............................................2

4.       COMPENSATION; BONUS.................................................2

5.       BENEFITS............................................................2

6.       TERM OF EMPLOYMENT..................................................3

7.       CONFIDENTIALITY; INVENTIONS; PRODUCT DEVELOPMENT, ETC...............4

8.       NON-COMPETITION; NON-SOLICITATION...................................5

9.       TERMINATION.........................................................6
         (a)      Cause......................................................6
         (b)      Incapacity.................................................6
         (c)      Death......................................................6
         (d)      Termination Without Cause; Good Reason.....................7

10.      VIOLATION OF OTHER AGREEMENTS.......................................7

11.      SPECIFIC PERFORMANCE; DAMAGES.......................................8

12.      NOTICES.............................................................8

13.      WAIVERS.............................................................9

14.      PRESERVATION OF INTENT..............................................9

15.      ENTIRE AGREEMENT....................................................9

16.      INUREMENT; ASSIGNMENT...............................................9

17.      AMENDMENT...........................................................9

18.      HEADINGS............................................................9

                                       i
<PAGE>

19.      COUNTERPARTS.......................................................10

20.      GOVERNING LAW......................................................10

                                       ii
<PAGE>

                              EMPLOYMENT AGREEMENT

         EMPLOYMENT AGREEMENT (this "Agreement") dated as of April 5, 2000 by
and between CARIBINER INTERNATIONAL, INC., a Delaware corporation having an
office at 16 West 61st Street, New York, New York 10023 ("Employer"), and ROBERT
ELLIS ("Employee").

                              W I T N E S S E T H:

         WHEREAS, Employer desires to engage Employee as an employee and
Employee desires to provide his services to Employer in connection with
Employer's business; and

         WHEREAS, both parties desire to clarify and specify the rights and
obligations which each have with respect to the other in connection with
Employee's employment.

         NOW, THEREFORE, in consideration of the agreements and covenants herein
set forth, the parties hereby agree as follows:

         1. EMPLOYMENT

         Employer hereby employs Employee as Chief Executive Officer of
Employer's Caribiner Audio Visual Services, Inc. subsidiary ("CAVS"), and
Employee hereby accepts such employment and agrees to render his services as an
employee of CAVS, for the term of this Agreement (as set forth in Section 6
hereof), all subject to and on the terms and conditions herein set forth.

         2. DUTIES AND RESPONSIBILITIES OF EMPLOYEE

         Employee shall be employed as the Chief Executive Officer of CAVS,
subject to the other provisions of this Section 2. Employee's duties shall be
commensurate with those of a Chief Executive Officer of a company engaged in the
business engaged in by CAVS. In the performance of his duties, Employee shall
report to the Chief Executive Officer of Employer. Employee shall use his best
efforts to maintain and enhance the business and reputation of CAVS. Employee's
duties and responsibilities shall be designated to Employee by Employer's Chief
Executive Officer and Employer's Board of Directors (the "Board"). Upon
Employer's request, Employee shall also perform similar services in an identical
capacity for (and, if requested, shall hold directorships with) any subsidiary
or division of Employer (or a subsidiary thereof) designated by the Board.
Employee shall be available to travel as the reasonable needs of Employer shall
require. Employee shall initially be based in CAVS's offices located in New
York, New York (or the New York City metropolitan area, which for purposes
hereof shall mean within a fifty (50) mile radius of CAVS's current offices) and
shall thereafter be based in Employer's offices to be located in Southern
California.

                                       1
<PAGE>

         3. EXCLUSIVITY OF SERVICE

         Employee agrees to devote all of his business time, efforts and
attention to the business and affairs of CAVS on an exclusive basis, and not to
engage in any other business activities for any person or entity, other than
personal investment activities and, subject to Employer's prior written
approval, directorships, provided that such activities do not materially affect
the performance of Employee's duties hereunder.

         4. COMPENSATION; BONUS

         (a) In consideration for his services to be performed under this
Agreement and as compensation therefor, Employee shall receive, in addition to
all other benefits provided in this Agreement, a base salary (the "Base Salary")
at the annual rate of five hundred thousand ($500,000) Dollars. All payments of
Base Salary shall be payable monthly in arrears.

         (b) In addition to the Base Salary, Employee shall be entitled to a
bonus (the "Bonus") during the first eighteen (18) months of the Initial Term
(as defined in Section 6 below) at a rate of $250,000 per annum (the "Guaranteed
Bonus"). During the first eighteen (18) months of the Initial Term, in the
aggregate, the Guaranteed Bonus shall equal $375,000 payable monthly in arrears
(commencing May 5, 2000). Each monthly payment shall equal $20,833.33.
Subsequent to the first eighteen (18) months of the Initial Term, the Bonus
shall be paid pursuant to an executive bonus plan to be mutually agreed upon
between Employer and Employee.

         (c) Employee's Base Salary and Bonus shall be reviewed annually by the
Board and increased in the Board's discretion.

         5. BENEFITS

         In addition to the Base Salary and Bonus provided for in Section 4
hereof, Employee shall be entitled to the following benefits during and in
respect of the Term (as defined below):

         (a) Employer shall provide Employee and his immediate family with the
hospitalization, medical and dental insurance coverage and other benefits
(including long term disability and life insurance) on the same basis as
provided to the majority of the other senior executive employees of Employer, in
accordance with Employer's practices. Employee shall be entitled to participate
in any plan of Employer relating to vacation, sick leave, stock options, stock
purchases, stock grants, pension, thrift, profit sharing, insurance, medical
coverage, education or other retirement or employee benefits that Employer has
adopted or may adopt for the benefit of its executive officers, officers and/or
employees.

         (b) Employee shall be entitled to twenty-five (25) working days paid
vacation to be taken by Employee at times mutually and reasonably agreed upon by
Employer and Employee in

                                       2
<PAGE>

addition to all other holidays established as part of Employer's standard
practices. No payment shall be made to Employee for unused vacation days nor may
such days be carried over to future years without Employer's consent.

         (c) Employee shall be entitled to reimbursement for all reasonable
travel, entertainment and other reasonable expenses incurred in connection with
Employer's business, provided that such expenses are adequately documented and
vouchered in accordance with Employer's policies.

         (d) Employee shall be entitled to an automobile allowance in the amount
of $1,200 per month, payable in equal installments during each payroll period,
to defray all costs incurred by Employee in connection with Employee's use of
his automobile in connection with the business of Employer (except for those
which Employee is entitled to reimbursement pursuant to Section 5(c) hereof).

         (e) Employee shall be entitled to reimbursement for the reasonable
expenses incurred by Employee in connection with moving his household goods to
the United States from the United Kingdom and back to the United Kingdom
following the termination of the term of this Agreement other than pursuant to
Section 9(a) hereof (the "Moving Expenses").

         (f) Employee shall also be entitled to reimbursement for reasonable
legal and accounting fees incurred by Employee in connection with U.S.
Immigration and taxation matters relating to his relocation to the United
States, and advice in connection with this Agreement.

         6. TERM OF EMPLOYMENT

         The initial term (the "Initial Term") of employment shall commence on
April 5, 2000 and shall terminate two (2) years thereafter, unless terminated
prior thereto in accordance with Section 9 hereof. Subsequent to the Initial
Term, the term of this Agreement shall be extended for successive periods of one
(1) year (each, a "Renewal Term") unless, at least one (1) year prior to the end
of the Initial Term or the then current Renewal Term, as the case may be, either
party has given the other party written notice of its election to terminate this
Agreement as of the end of the Initial Term or the then current Renewal Term, as
the case may be. For purposes of this Agreement, "Term" shall mean the Initial
Term plus any Renewal Terms.

                                       3
<PAGE>

         7. CONFIDENTIALITY; INVENTIONS; PRODUCT DEVELOPMENT, ETC.

         (a) Employee agrees and covenants that, at any time during employment
by Employer (which, for purposes of Sections 7 and 8 hereof shall include
Employer's subsidiaries and affiliates) or thereafter, he will not (without
first obtaining the written permission of Employer) (i) at any time during
employment by Employer and thereafter divulge to any person or entity, nor use
(either himself or in connection with any business) any "Confidential
Information" (as hereinafter defined in Section 7(c) hereof) and (ii) at any
time during employment by Employer and thereafter, divulge to any person or
entity, nor use (either himself or in connection with any business) any "Trade
Secrets" (as hereinafter defined in Section 7(c) hereof) to which he may have
had access or which had been revealed to him during the course of his employment
unless such disclosure is pursuant to a court order, disclosure in litigation
involving the Employer or in any reports or applications required by law to be
filed with any governmental agency.

         (b) Employee hereby grants to Employer or its nominee all rights of
every kind whatsoever, exclusively and perpetually, in and to all services
performed, products created and product ideas conceived by Employee for Employer
or its nominee, and hereby agrees, upon Employer's request therefor, to assign
and transfer to Employer or its nominee, any and all inventions, Trade Secrets,
product ideas, improvements, processes, Confidential Information and "know how"
relating to the business or products of Employer or any subsidiary or division
thereof, including any thereof which Employee may learn, possess or acquire
during Employee's employment by Employer, and agrees that all such things and
such knowledge are, and will be, the sole and exclusive property of Employer or
its nominee, and are known or held by Employee only for the benefit of Employer
or its nominee.

         (c) As used in this Agreement, the term "Confidential Information"
shall mean and include all information and data in respect of Employer's
operations, financial condition, products, customers and business (including,
without limitation, artwork, photographs, specifications, facsimiles, samples,
business, marketing or promotional plans, creative written material and
information relating to characters, concepts, names, trademarks and copyrights)
which may be communicated to Employee or to which Employee may have access in
the course of Employee's employment by Employer. Notwithstanding the foregoing,
the term "Confidential Information" shall not include information which:

         (i)      is, at the time of the disclosure, a part of the public domain
                  through no act or omission by Employee;

         (ii)     was otherwise in Employee's lawful possession prior to the
                  disclosure; or

         (iii)    is hereafter lawfully disclosed to Employee by a third party
                  who or which did not acquire the information under an
                  obligation of confidentiality to or through Employer.

                                       4
<PAGE>

         As used in this Agreement, the term "Trade Secrets" shall mean and
include information, without regard to form, including, but not limited to,
technical or non-technical data, a formula, a pattern, a compilation, a program,
a device, a method, a technique, a drawing, a process, financial data, financial
plans, product plans, or a list of actual or potential customers or suppliers
which is not commonly known by or available to the public and which information
(i) derives economic value, actual or potential, from not being known to, and
not being readily ascertainable by proper means by, other persons who can obtain
economic value from its disclosure or use; and (ii) is the subject of efforts
that are reasonable under the circumstances to maintain its secrecy.

         Any combination of known information shall be within any of the
foregoing exclusions only if the combination as such is within such exclusions.

         Nothing in this Section 7 shall limit any protection, definition or
remedy provided to Employer under any law, statute or legal principle relating
to Confidential Information or Trade Secrets.

         (d) Employee agrees that at the time of leaving the employ of Employer
he will deliver to Employer and not keep or deliver to anyone else any and all
notes, notebooks, drawings, memoranda, documents, and in general, any and all
material relating to the business of Employer (except Employee's personal files
and records) or relating to any employee, officer, director, agent or
representative of Employer.

         8. NON-COMPETITION; NON-SOLICITATION

         (a) Employee hereby agrees and covenants that commencing as of the date
hereof and for a period of one (1) year following the termination of his
employment with Employer (the "Limited Period") he will not directly or
indirectly engage in or become interested (whether as an owner, principal,
agent, stockholder, member, partner, trustee, venturer, lender or other
investor, director, officer, employee, consultant or through the agency of any
corporation, limited liability company, partnership, association or agent or
otherwise) in any business or enterprise that shall, at the time, be in whole or
in substantial part competitive with any material part of the business conducted
by Employer during the period of Employee's employment with Employer (except
that ownership of not more than 1% of the outstanding securities of any class of
any entity that are listed on a national securities exchange or traded in the
over-the-counter market shall not be considered a breach of this Section 8(a)).

         (b) Employee agrees and covenants that for the Limited Period he will
not (without first obtaining the written permission of Employer) directly or
indirectly participate in the solicitation of any business of any type conducted
by Employer during the period of Employee's employment with Employer from any
person or entity which was a client or customer of Employer during the period of
Employee's employment with Employer, or was a prospective customer of Employer
from which Employee (or employees under Employee's supervision)

                                       5
<PAGE>

solicited business or for which a proposal for submission was prepared during
the period of Employee's employment with Employer.

         (c) Employee agrees and covenants that for the Limited Period he will
not (without first obtaining the written permission of Employer) directly or
indirectly, recruit for employment, or induce or seek to cause such person to
terminate his or his employment with Employer, any person who then is an
employee of Employer.

         9. TERMINATION

         (a) Cause. Notwithstanding the terms of this Agreement, Employer may
discharge Employee and terminate this Agreement in the event that (i) Employee
shall continually fail substantially to perform his duties hereunder with
reasonable diligence, other than by reason of incapacity, or shall violate any
material covenant of his herein contained, (ii) Employee shall engage in an act
of fraud, theft or embezzlement in connection with his employment hereunder,
(iii) Employee shall engage in a material act or omission involving wilful
misconduct or gross negligence in the performance of Employee's duties, (iv)
Employee shall engage in a material act of dishonesty, (v) Employee shall
unreasonably refuse to carry out the lawful order of Employer commensurate with
Employee's duties to be performed hereunder or (vi) Employee shall be convicted
of a felony involving moral turpitude, (which shall include any felony relating
to drugs) or shall plead nolo contendere (or make an equivalent plea) in respect
of, any governmental indictment, complaint or other formal allegation.
Notwithstanding the foregoing to the contrary, prior to discharging Employee
pursuant to clauses (i) or (v) of the immediately preceding sentence, Employer
shall give Employee ten (10) days' prior written notice of any breach or failure
and a reasonable opportunity to cure any such breach or failure, or cease
violating any covenant contained herein, to the extent curable or ceasable;
provided, however, that no notice shall be required to be given in the event
such breach, failure or violation is not curable or ceasable. In the event
Employee is discharged pursuant to this Section 9, except as otherwise set forth
herein, employee's Base Salary and Bonus under Section 4 hereof and all benefits
under Section 5 hereof shall terminate immediately upon such discharge (subject
to applicable law such as COBRA), and Employer shall have no further obligation
to Employee except the payment to and reimbursement to Employee for any monies
due to Employee which right to payment or reimbursement accrued prior to such
discharge.

         (b) Incapacity. Should Employee, in the reasonable judgment of a
physician chosen by the Board, become incapacitated to the extent that he is
unable to perform his material duties pursuant to this Agreement for a period of
five (5) consecutive months by reason of illness, disability, or other
incapacity, Employer may terminate this Agreement upon one (1) month's notice
after said five (5) month period.

         (c) Death. This Agreement shall terminate immediately upon the death of
Employee, in which case Employee's legal representatives shall be entitled to
receive promptly a payment equal to four (4) months Base Salary.

                                       6
<PAGE>

         (d) Termination Without Cause; Good Reason. If Employee is discharged
and this Agreement is terminated without Cause (Cause being defined as a reason
for termination as set forth in Section 9(a) above) or by reason other than as
set forth in Sections 9(b) or 9(c) hereof, or if Employee resigns for Good
Reason (as hereinafter defined) Employer shall pay to Employee (i) for the
remainder of the Initial Term or the remainder of the then current Renewal Term,
as the case may be, the Base Salary provided for in Section 4 hereof as such
sums become due (or, at Employer's election, in a lump sum giving effect to the
present value of such payments); and (ii) the Bonus payable in equal monthly
installments over the remainder of such Renewal Term or Initial Term, as the
case may be (or, at Employer's election, in a lump sum giving effect to the
present value of such payments utilizing a discount factor of 5%). For purposes
of this Agreement, "Good Reason" shall mean (i) a relocation of Employee,
without his prior written consent, outside of the New York City metropolitan
area (which shall mean within a fifty (50) mile radius of such current offices)
or, at such time when Employer relocates to Southern California, a relocation of
Employee more than fifty (50) miles outside of Employer's offices in Southern
California, or (ii) a failure to maintain Employee as Chief Executive Officer,
or (iii) a material diminution by Employer of Employee's responsibilities, which
change would cause Employee's position with Employer to become one of
significantly less responsibility or scope from that contemplated by Section 2
hereof, or (iv) a wilful failure in bad faith to pay the Base Salary or Bonus to
Employee when due or another material breach of this Agreement by Employer that
has a material adverse effect on Employee, or (v) a Change of Control of
Employer (as defined below) during the Initial Term. For purposes of this
Agreement, a "Change of Control" shall mean have the meaning given to such term
in CII's 1996 Stock Option Plan, as amended.

         10. VIOLATION OF OTHER AGREEMENTS

         Employee represents and warrants to Employer that he is legally able to
enter into this Agreement and accept employment with Employer; that Employee is
not prohibited by the terms of any agreement, understanding or policy from
entering into this Agreement; and the terms hereof will not and do not violate
or contravene the terms of any agreement, understanding or policy to which
Employee is or may be a party, or by which Employee may be bound. Employee
agrees that, as it is a material inducement to Employer that Employee make the
foregoing representations and warranties and that they be true in all respects,
Employee shall forever indemnify and hold Employer harmless from and against all
liability, costs or expenses (including attorney's fees and disbursements) on
account of the foregoing representations being untrue.

                                       7
<PAGE>

         11. SPECIFIC PERFORMANCE; DAMAGES

         In the event of a breach or threatened breach of the provisions of
Sections 7 or 8 hereof, Employee agrees that the injury which would be suffered
by Employer would be of a character which could not be fully compensated for
solely by a recovery of monetary damages. Accordingly, Employee agrees that in
the event of a breach or threatened breach of Section 7 or 8 hereof, in addition
to and not in lieu of any damages sustained by Employer and any other remedies
which Employer may pursue hereunder or under any applicable law, Employer shall
have the right to equitable relief, including issuance of a temporary or
permanent injunction, by any court of competent jurisdiction against the
commission or continuance of any such breach or threatened breach, without the
necessity of proving any actual damages or posting of any bond or other surety
therefor. In addition to, and not in limitation of the foregoing, Employee
understands and confirms that, in the event of a breach or threatened breach of
Section 7 or 8 hereof, Employee may be held financially liable to Employer for
any loss suffered by Employer as a result.

         12. NOTICES

         Any and all notices, demands or requests required or permitted to be
given under this Agreement shall be given in writing and sent, by registered or
certified U.S. mail, return receipt requested, by hand, or by overnight courier,
addressed to the parties hereto at their addresses set forth above or such other
addresses as they may from time-to-time designate by written notice or, in the
case of Employee, which Employer maintains as Employee's address, given in
accordance with the terms of this Section, together with copies thereof as
follows:

         In the case of Employer, with a copy to:

                  Zukerman Gore & Brandeis, LLP
                  900 Third Avenue
                  New York, New York  10022-4728

                  Attention:  Jeffrey D. Zukerman, Esq.

Notice given as provided in this Section shall be deemed effective: (i) on the
date hand delivered, (ii) on the first business day following the sending
thereof by overnight courier, and (iii) on the seventh calendar day (or, if it
is not a business day, then the next succeeding business day thereafter) after
the depositing thereof into the exclusive custody of the U.S. Postal Service.

                                        8
<PAGE>

         13. WAIVERS

         No waiver by any party of any default with respect to any provision,
condition or requirement hereof shall be deemed to be a waiver of any other
provision, condition or requirement hereof; nor shall any delay or omission of
any party to exercise any right hereunder in any manner impair the exercise of
any such right accruing to it thereafter.

         14. PRESERVATION OF INTENT

         Should any provision of this Agreement be determined by a court having
jurisdiction in the premises to be illegal or in conflict with any laws of any
state or jurisdiction or otherwise unenforceable, Employer and Employee agree
that such provision shall be modified to the extent legally possible so that the
intent of this Agreement may be legally carried out.

         15. ENTIRE AGREEMENT

         This Agreement sets forth the entire and only agreement or
understanding between the parties relating to the subject matter hereof and
supersedes and cancels all previous agreements, negotiations, letters of intent,
correspondence, commitments and representations in respect thereof among them,
and no party shall be bound by any conditions, definitions, warranties or
representations with respect to the subject matter of this Agreement except as
provided in this Agreement.

         16. INUREMENT; ASSIGNMENT

         The rights and obligations of Employer under this Agreement shall inure
to the benefit of and shall be binding upon any successor of Employer or to the
business of Employer, subject to the provisions hereof. Employer may assign this
Agreement to any person, firm or corporation controlling, controlled by, or
under common control with Employer. Neither this Agreement nor any rights or
obligations of Employee hereunder shall be transferable or assignable by
Employee.

         17. AMENDMENT

         This Agreement may not be amended in any respect except by an
instrument in writing signed by the parties hereto.

         18. HEADINGS

         The headings in this Agreement are solely for convenience of reference
and shall be given no effect in the construction or interpretation of this
Agreement.

                                        9
<PAGE>

         19. COUNTERPARTS

         This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original, but all of which when taken together shall
constitute one and the same instrument.

         20. GOVERNING LAW

         This Agreement shall be governed by, construed and enforced in
accordance with the internal laws of the State of California, without giving
reference to principles of conflict of laws.

                                       10
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                                          EMPLOYEE:

                                          /s/ Robert Ellis
                                           ------------------------------
                                          Robert Ellis

                                          EMPLOYER:

                                          CARIBINER INTERNATIONAL, INC.

                                          By:  /s/ Christopher A. Sinclair
                                              ---------------------------
                                               Name:  Cristopher A. Sinclair
                                               Title: Chairman of the Board and
                                                      Chief Executive Officer

                                       11

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