Document:

<PAGE>

                                                                     EXHIBIT 4.5

                                    AMENDMENT
                                       TO
                                WARRANT AGREEMENT

         THIS AMENDMENT is made and entered into as of May 26, 2000, by and
between Big Buck Brewery & Steakhouse, Inc. (f/k/a Michigan Brewery, Inc.), a
Michigan corporation (the "Company"), and Norwest Bank Minnesota, National
Association, as the Warrant Agent (the "Warrant Agent").

         WHEREAS, the Company appointed the Warrant Agent to provide certain
services in connection with and following the Company's initial public offering
of units, each unit consisting of one share of common stock and one redeemable
Class A Warrant to purchase one share of common stock ("Warrant");

         WHEREAS, the Company and the Warrant Agent entered into an agreement
(the "Warrant Agreement") with respect to such appointment on June 7, 1996;

         WHEREAS, the Company has extended the expiration date of the Warrants
from June 13, 2000 to December 13, 2001;

         WHEREAS, the Company wishes to amend the Warrant Agreement to
correspond with the new term of the Warrants.

         NOW, THEREFORE, in consideration of the premises and agreements set
forth herein, the parties hereto agree to restate (i) Sections 2.1, 2.2 and 4.1
of the Warrant Agreement as follows and (ii) Exhibit A of the Warrant Agreement
as attached hereto:

         Section 2.1 EXERCISE. Any or all of the Warrants represented by each
Warrant Certificate may be exercised by the holder thereof on or before 5:00
p.m., Minneapolis time, on December 13, 2001 (unless extended by the Company),
by surrender of the Warrant Certificate with the purchase form, which is printed
on the reverse thereof (or a reasonable facsimile thereof), duly executed by
such holder, to the Warrant Agent at its principal office in South St. Paul,
Minnesota. The purchase form must be accompanied by payment, in cash or by
certified check payable to the Company, in an amount equal to the product of the
number of shares of Common Stock issuable upon exercise of the Warrant
represented by such Warrant Certificate, as adjusted pursuant to the provisions
of Article III hereof, multiplied by the exercise price of $8.00, as adjusted
pursuant to the provisions of Article III hereof (such price as so adjusted from
time to time being herein called the "Purchase Price"), and such holder shall be
entitled to receive such number of fully paid and nonassessable shares of Common
Stock, as so adjusted, at the time of such exercise.

         Section 2.4 EXTENSION OF EXERCISE PERIOD; CHANGE OF EXERCISE PRICE. The
Company may, upon notice given to the Warrant Agent, and without the consent of
the holders of the Warrant Certificates, (a) extend the period over which the
Warrants are exercisable beyond December 13, 2001, and (b) increase or decrease
the Purchase Price for any period. Within a reasonable time after to the
effective time of such change or extension, the Company shall provide the
Warrant Agent and Warrantholders of record with written notice of any change in
the Purchase Price or extension of the exercise period, as the case may be,
specifying the time to which such exercise period is extended, or the new
Purchase Price and the periods for which such new Purchase Price is in effect.

         Section 4.1 REDEMPTION PRICE. The Warrants may be redeemed at the
option of the Company, at any time on or before December 13, 2001, upon notice
as set forth in Section 4.2 and at the redemption price equal to $0.01

<PAGE>

per warrant, provided that (a) the last reported sale price of the Common Stock
on a national securities exchange, if the Common Stock shall be listed or
admitted to unlisted trading, privileges on a national securities exchange, or
(b) the closing, bid price of the Common Stock on the Nasdaq system, if the
Common Stock is not so listed or admitted to unlisted trading privileges,
exceeds $9.00 per share (such price subject to adjustment from time to time in
the same manner as the Purchase Price pursuant to the provisions of Article III
hereof) for any 20 consecutive trading days prior to the date such notice of
redemption is given.

         IN WITNESS WHEREOF, this Amendment has been duly executed by the
parties hereto as of the day and year first above written.

                               BIG BUCK BREWERY & STEAKHOUSE, INC.

                               By /s/ William F. Rolinski
                                 -----------------------------------------------
                                        William F. Rolinski
                                        President and Chief Executive Officer

                               NORWEST BANK MINNESOTA,
                               NATIONAL ASSOCIATION

                               By /s/ Beverly Robinson
                                 -----------------------------------------------
                                        Beverly Robinson
                                        Account Manager

<PAGE>

                                    EXHIBIT A

             THIS WARRANT CERTIFICATE MAY BE TRANSFERRED SEPARATELY
       FROM THE COMMON STOCK CERTIFICATE WITH WHICH IT IS INITIALLY ISSUED
            VOID AFTER 5:00 P.M. MINNEAPOLIS TIME, DECEMBER 13, 2001
                WARRANT CERTIFICATE FOR PURCHASE OF COMMON STOCK

                       BIG BUCK BREWERY & STEAKHOUSE, INC.
              INCORPORATED UNDER THE LAWS OF THE STATE OF MICHIGAN

NO._________________                   CERTIFICATE FOR__________________WARRANTS

THIS CERTIFIES THAT                                    WARRANT CUSIP 089072 11 0

or registered assigns is the owner of the number of Warrants specified above, of
which each entitles the holder to purchase one fully paid and nonassessable
common share, $.01 par value per share, of Big Buck Brewery & Steakhouse, Inc.,
a Michigan corporation (the "Company"), at any time on or before 5:00 P.M.,
Minneapolis time, on December 13, 2001 (the "Expiration Date"), upon compliance
with and subject to the conditions set forth herein and in the Warrant
Agreement, at a purchase price per common share (the "Warrant Price") of $8.00
for exercise of any Warrant on or before 5:00 P.M., Minneapolis time, on the
Expiration Date.

         The Warrants represented hereby are exercisable upon presentation and
surrender of this Warrant Certificate, with the election to purchase on the
reverse hereof duly executed, at the corporate trust office of the Warrant
Agent, and upon payment in full of the Warrant Price for the shares of Common
Stock purchasable on such exercise, in U.S. currency, either in cash, certified
check or bank cashier check, payable to order of the Company.

         This Warrant Certificate is issued under, and the rights represented
hereby are subject to, the terms and provisions of the Warrant Agreement dated
as of June 7, 1996, between the Company and the Warrant Agent, and reference is
hereby made to the Warrant Agreement for a more complete statement of the rights
and limitations of the rights of the registered holder hereof, the rights and
duties of the Warrant Agent, and the rights and obligations of the Company
thereunder, to all of which terms and provisions the registered holder of this
Warrant Certificate consents by acceptance hereof. Copies of the Warrant
Agreement are on file at the corporate trust office of the Warrant Agent, and
may be obtained by written request to the Warrant Agent.

         The number of shares purchasable upon exercise of each Warrant
represented by this Certificate, and the Warrant Price therefor, are subject to
adjustment from time to time as set forth in the Warrant Agreement. Except as
provided in the Warrant Agreement, no adjustment shall be made for dividends or
distributions on any shares issuable upon exercise of any Warrant represented
hereby.

         The Warrants represented hereby are exercisable at the election of the
registered holder hereof either as an entirety or from time to time for part
only (in whole shares) of the number of shares specified herein and, in the
event that this Warrant Certificate is exercised in respect of less than all of
such shares, a new Warrant Certificate or Certificates will be issued on such
surrender for the number of Warrants represented hereby which were not so
exercised. The Company shall not be required upon the exercise of the Warrants
represented hereby to issue any fractions of shares, but shall make an
adjustment therefor in cash on the basis set forth in the Warrant Agreement.

         Prior to the exercise of any Warrant represented hereby, the holder
hereof shall not be entitled to any rights of a stockholder of the Company,
including without limitation the right to vote, to receive dividends and

<PAGE>

other distributions, to exercise any preemptive right, or to receive any notice
of or to attend any meeting of holders of Common Stock or any other proceedings
of the Company except as provided in said Warrant Agreement.

         The Company has the right to redeem these Warrants for $.01 per Warrant
upon 30 days' written notice to holders thereof, at their last registered
addresses, if the high closing bid price of the Company's common shares (as
reported by NASDAQ or as otherwise computed in accordance with the Warrant
Agreement) has exceeded $9.00 (adjusted for certain events described in the
Warrant Agreement) for 20 consecutive business days prior to the call notice,
and in accordance with the other redemption terms contained in the Warrant
Agreement. Warrants may be exercised by holders thereof during such 30-day
redemption notice period. If notice of redemption shall have been given as
provided in the Warrant Agreement and cash sufficient for the redemption
deposited by the Company for that purpose, the exercise rights of the Warrants
identified for redemption shall expire at the close of trading on such date of
redemption unless extended by the Company.

         The Warrants represented hereby are transferable upon surrender of this
Warrant Certificate at the corporate trust office of the Warrant Agent by the
registered holder hereof in person or by attorney duly authorized in writing,
but only in the manner of and subject to the limitations provided in the Warrant
Agreement, and upon any such transfer, a new Warrant Certificate or Certificates
representing the same number of Warrants will be issued to the transferee in
exchange for this Warrant Certificate.

         Prior to due presentment for registration of this Warrant Certificate,
the Company and the Warrant Agent may deem and treat the registered holder
hereof as the absolute owner hereof and of each Warrant represented hereby
(notwithstanding any notation of ownership or other writing hereon made by
anyone other than the Company or the Warrant Agent) for all purposes, and
neither the Company nor the Warrant Agent shall be affected by any notice to the
contrary.

         Common shares may not be issued to the registered holder hereof upon
exercise of Warrants represented hereby if, at the time of exercise, a
registration statement with respect to such common shares is not effective under
the Securities Act of 1933, as amended, or if the common shares underlying the
Warrants are not qualified or exempt in the state wherein the registered holder
hereof resides.

         This Warrant Certificate shall be void and the Warrants and any rights
represented hereby shall cease unless exercised on or before 5:00 P.M.,
Minneapolis time, December 13, 2001, unless extended by the Company. This
Warrant Certificate shall not be valid unless countersigned by the Warrant
Agent.

         IN WITNESS WHEREOF, Big Buck Brewery & Steakhouse, Inc. has caused this
Warrant Certificate to be duly executed by facsimile signatures of the Company's
duly authorized officers.

Dated:

BIG BUCK BREWERY & STEAKHOUSE, INC.

By
   ---------------------------------------------
     President

Attest:
       -----------------------------------------
      Secretary

Countersigned

NORWEST BANK MINNESOTA, N.A.
     Warrant Agent

By
   ---------------------------------------------
     Authorized Signature<PAGE>
                                                                   EXHIBIT 10.16

[CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED BASED UPON A REQUEST FOR
CONFIDENTIAL TREATMENT PURSUANT TO RULE 24B-2 UNDER THE SECURITIES EXCHANGE ACT
OF 1934. OMITTED PORTIONS: SECTIONS 1.1 (IN PART), 2.2 (IN PART), 3.2 (IN PART),
3.3 (IN PART), 3.4 (IN PART), 4.1 (IN PART), 4.7(a) (IN PART), 4.8, 5.4 (IN
PART), 6.1 (IN PART), 7.1(a) (IN PART), 7.1(b) (IN PART), 7.2 (IN PART), 7.4 (IN
PART), 9.1 (IN PART), 9.3(a) (IN PART), 9.3(b) (IN PART) AND 10.2(d). OMITTED
PORTIONS HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.]

THIS AGREEMENT is made on 4 May 2000

BETWEEN:

(1)  YAHOO! SVERIGE AB a company incorporated in Sweden under registration
     number 556542-8090, with registered office at Kopmangatan 15, BV, S-111 31
     Stockholm (Yahoo!)

(2)  CELLPOINT SYSTEMS AB a company incorporated in Sweden, with registered
     office at Sofielundsvagen, 4 SE-191 47 Sollentuna (CellPoint)

BACKGROUND:

(A) CellPoint has developed a product called "CellPoint Finder" which permits
     the location of a device to be communicated to another device.

(B)  CellPoint and Yahoo! wish jointly to promote and sell this product,
     leveraging the Yahoo! name, on the terms and subject to the conditions of
     this Agreement.

IT IS AGREED as follows:

1.   DEFINITIONS AND INTERPRETATION

1.1  In this Agreement, the following words have the following meanings:

<TABLE>
     <S>                        <C>
     "BRAND"                    "Find a Friend" and all translations and representations
                                thereof and all words or phrases having substantially the
                                same meaning in any language and all devices, designs, logos
                                and the like representing the same;

     "TELCO AGREEMENT"          An agreement between Yahoo! and a Telco substantially in the
                                terms set out in Schedule 2;

     "TECHNOLOGY LICENCE"       The agreement for the licence of the Technology between the
                                Telco and CellPoint substantially in the terms set out in
                                Schedule 3;

     "INTEGRATION SERVICE"      The service to be provided by CellPoint and as may be
                                specified pursuant to Clause 4;

     "INTELLECTUAL PROPERTY     All registered or unregistered legal and beneficial
     RIGHTS"                    intellectual and industrial property rights (including,
                                without limitation, copyright and related rights, database
                                right, patents, trade and service marks and names and trade
                                secret rights) throughout the world no matter what such
                                rights may be known as in any particular country in the
                                world;

     "SERVICE"                  CellPoint Finder, a service based on the Technology that
                                enables users of mobile telephones and other mobile
                                information devices to find the current location of
                                specified other users;

     "TECHNOLOGY"               The CellPoint Finder software as described in Schedule 1 and
                                all developments and enhancements made thereto during the
                                term of this Agreement;

     "TELCO"                    Any operator or provider of mobile telephony services;
</TABLE>

<PAGE>
<TABLE>
     <S>                        <C>
     "TERRITORY"                [Omitted based upon a request for confidential treatment
                                pursuant to Rule 24B-2 under the Securities Exchange Act of
                                1934. The omitted portion has been filed separately with the
                                Securities and Exchange Commission.]

     "USER"                     Any person using or being located by means of the Service;

     "USER DATA"                All information relating to a User, including without
                                limitation:

                                - Identity and registration details

                                - usage of the Service and the relevant telecommunications
                                  system

                                - the Telco or other service provider used by the User.
</TABLE>

2.   CO-OPERATION

2.1  The parties agree to co-operate for the duration of this Agreement in
     accordance with this Agreement.

2.2  Yahoo! shall [Omitted based upon a request for confidential treatment
     pursuant to Rule 24B-2 under the Securities Exchange Act of 1934. The
     omitted portion has been filed separately with the Securities and Exchange
     Commission.] to market the Service to Telcos in the Territory and will
     consult with CellPoint where changes to the Service are required by a
     Telco.

2.3  This Agreement shall apply in the Territory only.

3.   PROVISION OF SERVICE

3.1  Yahoo! shall not be restricted from promoting products or services similar
     to the Service in the Territory itself or with third parties.

3.2  CellPoint shall [Omitted based upon a request for confidential treatment
     pursuant to Rule 24B-2 under the Securities Exchange Act of 1934. The
     omitted portion has been filed separately with the Securities and Exchange
     Commission.] to procure that any Telco which is interested in using the
     Service in any context does so under a Telco Agreement and using the Yahoo!
     name and the Brand as described in Clause 5.1. If any Telco requires that
     it be permitted to co-brand the Service, Yahoo! shall be entitled to decide
     whether to permit such co-branding.

3.3  Should any Telco wish to use the Service but decline to use the Yahoo! name
     or the Brand, CellPoint [Omitted based upon a request for confidential
     treatment pursuant to Rule 24B-2 under the Securities Exchange Act of 1934.
     The omitted portion has been filed separately with the Securities and
     Exchange Commission.]. Notwithstanding the previous sentence, CellPoint
     shall not [Omitted based upon a request for confidential treatment pursuant
     to Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
     portion has been filed separately with the Securities and Exchange
     Commission.]

     [Omitted based upon a request for confidential treatment pursuant to
     Rule 24B-2 under the Securities Exchange Act of 1934. The omitted portion
     has been filed separately with the Securities and Exchange Commission.]

3.4  If Yahoo! has not executed [Omitted based upon a request for confidential
     treatment pursuant to Rule 24B-2 under the Securities Exchange Act of 1934.
     The omitted portion has been filed separately with the Securities and
     Exchange Commission.] Telco Agreements for the Service by the end of the
     [Omitted based upon a request for confidential treatment pursuant to
     Rule 24B-2 under the Securities Exchange Act of 1934. The omitted portion
     has been filed separately with the Securities and Exchange Commission.]
     starting from the date of this Agreement, or if Yahoo!

                                       2
<PAGE>
     has not executed [Omitted based upon a request for confidential treatment
     pursuant to Rule 24B-2 under the Securities Exchange Act of 1934. The
     omitted portion has been filed separately with the Securities and Exchange
     Commission.] Telco Agreement for the Service by the end of the [Omitted
     based upon a request for confidential treatment pursuant to Rule 24B-2
     under the Securities Exchange Act of 1934. The omitted portion has been
     filed separately with the Securities and Exchange Commission.], the parties
     shall [Omitted based upon a request for confidential treatment pursuant to
     Rule 24B-2 under the Securities Exchange Act of 1934. The omitted portion
     has been filed separately with the Securities and Exchange Commission.]
     CellPoint to [Omitted based upon a request for confidential treatment
     pursuant to Rule 24B-2 under the Securities Exchange Act of 1934. The
     omitted portion has been filed separately with the Securities and Exchange
     Commission.] and/or [Omitted based upon a request for confidential
     treatment pursuant to Rule 24B-2 under the Securities Exchange Act of 1934.
     The omitted portion has been filed separately with the Securities and
     Exchange Commission.] by CellPoint under the Technology Licenses.

4.   THE TELCO AGREEMENT/TECHNOLOGY LICENSE/TERMS OF SERVICE

4.1  CellPoint hereby irrevocably appoints Yahoo! its exclusive agent for the
     purposes of entering into the Technology Licence for Yahoo! Find A Friend
     with the relevant Telco. Such appointment shall be for the duration of this
     Agreement. The exclusivity is without prejudice to CellPoint [Omitted based
     upon a request for confidential treatment pursuant to Rule 24B-2 under the
     Securities Exchange Act of 1934. The omitted portion has been filed
     separately with the Securities and Exchange Commission.].

4.2  CellPoint undertakes to comply with each Technology Licence entered into
     pursuant to this Agreement. Yahoo! will not vary the Technology Licence or
     the technical specifications of the Service without the prior consent of
     CellPoint (not to be unreasonably withheld or delayed).

4.3  Without prejudice to the generality of Clause 4.2, CellPoint warrants,
     represents and undertakes to Yahoo! (which enters into this Agreement in
     reliance thereon) as continuing warranties, representations and
     undertakings that:

     (a)  the marketing, sale, provision, license or use of the Service and the
        Technology shall not infringe the Intellectual Property Rights or other
        rights of any person;

     (b)  the Technology and the Service shall in all material respects perform
        in accordance with:

         (i) the technical specifications set out in Schedule 1; and

         (ii) all performance statements made in any promotional literature
              approved by CellPoint;

     (c)  CellPoint has not entered into any commercial agreement with a Telco
        for the provision of the Technology or the Service in the Territory.

4.4  Yahoo represents and warrants that the Yahoo trade mark shall not infringe
     the Intellectual Property Rights or other rights of any person.

4.5  CellPoint shall perform all obligations to Telcos in relation to the
     Integration Services described in the Telco Agreement. Yahoo! will liaise
     with CellPoint on a case by case basis to determine the extent, scope and
     cost of the Integration Services.

4.6  The Service shall be provided to Users on Yahoo! standard Terms of Service
     set out in Schedule 4, as varied by Yahoo! from time to time.

                                       3
<PAGE>
4.7  CellPoint shall indemnify Yahoo! and hold Yahoo! harmless from and against
     all losses, damages, costs, claims and expenses suffered by Yahoo! arising
     out of:

     (a)  any failure by CellPoint to comply with any Technology License;
        PROVIDED, HOWEVER, that CellPoint shall not have any liability hereunder
        to the extent that such failure arises out of or is caused directly and
        exclusively by the [Omitted based upon a request for confidential
        treatment pursuant to Rule 24B-2 under the Securities Exchange Act of
        1934. The omitted portion has been filed separately with the Securities
        and Exchange Commission.] Yahoo! to perform under the agreement [Omitted
        based upon a request for confidential treatment pursuant to Rule 24B-2
        under the Securities Exchange Act of 1934. The omitted portion has been
        filed separately with the Securities and Exchange Commission.] and
        Yahoo! or the failure of Yahoo! to perform hereunder; or

     (b)  any failure by CellPoint to comply with its obligations under Clauses
        4.2, 4.3 or 4.5.

4.8  [Omitted based upon a request for confidential treatment pursuant to Rule
     24B-2 under the Securities Exchange Act of 1934. The omitted portion has
     been filed separately with the Securities and Exchange Commission.]

5.   BRANDING

5.1  The parties agree that the Service shall be marketed and provided under the
     Brand preceded by and in conjunction with the Yahoo! name (ie. Yahoo! Find
     A Friend), save as provided in this Clause 5.

5.2  CellPoint acknowledges that all Intellectual Property Rights in and to the
     Brand shall belong to and vest in Yahoo! and that CellPoint shall have no
     rights to use the Brand or the Yahoo! name. CellPoint shall be permitted
     such credit or other reference as may be agreed from time to time in
     relation to the Service.

5.3  For the avoidance of doubt, CellPoint acknowledges that nothing in this
     Agreement relates to any other Yahoo! property or Service including but not
     limited to the Yahoo! Mobile Messenger service except as provided in
     Clause 7.1(b) and CellPoint acquires no intellectual property rights in any
     Yahoo! property or service nor to any development work undertaken by either
     party relating to the integration of Yahoo! Find a Friend with any other
     Yahoo! property or service.

5.4  For the avoidance of doubt, Yahoo! acknowledges that nothing in this
     Agreement relates to any other CellPoint property or service and Yahoo!
     acquires no intellectual property rights in any other CellPoint property or
     service. Yahoo! acknowledges that it acquires no intellectual property
     rights in [Omitted based upon a request for confidential treatment pursuant
     to Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
     portion has been filed separately with the Securities and Exchange
     Commission.] the CellPoint trademark.

5.5  If Yahoo! permits CellPoint to use any of the Yahoo! trademarks, CellPoint
     shall comply with the Yahoo! trademark guidelines.

6.   CHANGES TO THE TECHNOLOGY

6.1  CellPoint and Yahoo! shall co-operate during the term of this Agreement to
     [Omitted based upon a request for confidential treatment pursuant to
     Rule 24B-2 under the Securities Exchange Act of 1934. The omitted portion
     has been filed separately with the Securities and Exchange Commission.].
     The costs and ownership of any such development work shall be agreed by the
     parties in advance. [Omitted based upon a request for confidential
     treatment pursuant to Rule 24B-2 under the Securities Exchange Act of 1934.
     The omitted portion has been filed separately with the Securities and
     Exchange Commission.].

                                       4
<PAGE>
7.   PAYMENT

7.1  In consideration for the use by Yahoo! of the Technology in promoting the
     Service and the other obligations of CellPoint set out in this Agreement,
     Yahoo! shall pay to CellPoint:

     (a)  [Omitted based upon a request for confidential treatment pursuant to
        Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
        portion has been filed separately with the Securities and Exchange
        Commission.] for use of the Technology (exclusive of VAT) as Yahoo!
        receives from a Telco for the Service, and

     (b)  [Omitted based upon a request for confidential treatment pursuant to
        Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
        portion has been filed separately with the Securities and Exchange
        Commission.] (exclusive of VAT) paid by a Telco to Yahoo! [Omitted based
        upon a request for confidential treatment pursuant to Rule 24B-2 under
        the Securities Exchange Act of 1934. The omitted portion has been filed
        separately with the Securities and Exchange Commission.] the same Telco.

7.2  For each Telco Agreement, Yahoo! shall [Omitted based upon a request for
     confidential treatment pursuant to Rule 24B-2 under the Securities Exchange
     Act of 1934. The omitted portion has been filed separately with the
     Securities and Exchange Commission.] for the Service of [Omitted based upon
     a request for confidential treatment pursuant to Rule 24B-2 under the
     Securities Exchange Act of 1934. The omitted portion has been filed
     separately with the Securities and Exchange Commission.] provided that
     there is an agreement of principle with the Telco that [Omitted based upon
     a request for confidential treatment pursuant to Rule 24B-2 under the
     Securities Exchange Act of 1934. The omitted portion has been filed
     separately with the Securities and Exchange Commission.].

7.3  Any sums paid by a Telco to Yahoo! other than the sums referred to in
     Clause 7.1 (a) and (b) shall be exclusively for the account of Yahoo!

7.4  Yahoo! shall keep records of the sums referred to in Clause 7.1 and
     [Omitted based upon a request for confidential treatment pursuant to
     Rule 24B-2 under the Securities Exchange Act of 1934. The omitted portion
     has been filed separately with the Securities and Exchange Commission.].
     Yahoo! shall provide CellPoint with a self-billing invoice or other
     suitable statement of sums due.

7.5  The sums paid by Yahoo! to CellPoint shall be deemed to include valuable
     consideration paid by the Telco to CellPoint in relation to the grant of
     the rights set out in the Technology Licence.

8.   AUDIT

8.1  CellPoint may, at its cost, upon 7 days' prior written notice to Yahoo!,
     conduct an audit (which may include inspection) of Yahoo!'s records for the
     purpose of verifying the accuracy of any statement supplied by Yahoo! as
     evidence of the amounts owed to CellPoint under this Agreement. Any such
     audit will be carried out by CellPoint during normal business hours at
     Yahoo!'s premises. CellPoint will be allowed to take copies of relevant
     records necessary to compile an audit report. CellPoint undertake to keep
     confidential all matters discovered by it in relation to Yahoo!'s business
     whilst conducting the audit which are not already in the public domain,
     except in the context of legal proceedings brought by CellPoint against
     Yahoo! in connection with this Agreement or any other agreement or action
     between the parties.

8.2  In the event that an audit pursuant to Section 8.1 shows that the amounts
     paid to CellPoint pursuant to this Agreement were less than the amounts
     owed to CellPoint for the periods covered thereby, Yahoo! shall, within
     30 days of receipt of written notice thereof from CellPoint, either
     (a) pay to CellPoint the differential amounts owed, or (b) notify CellPoint
     in writing that it does

                                       5
<PAGE>
     not agree with such calculations. In the event that CellPoint and Yahoo!
     disagree on amounts owed to CellPoint hereunder, CellPoint and Yahoo! shall
     cooperate with each other in order to reconcile their differences as
     promptly as practicable.

8.3  Subject to the Telco's consent, Yahoo! shall provide CellPoint with the
     results of any audit by Yahoo! of a Telco with respect to "Find a Friend".

9.   TERM AND TERMINATION

9.1  This Agreement shall commence on the date hereof and shall terminate
     [Omitted based upon a request for confidential treatment pursuant to
     Rule 24B-2 under the Securities Exchange Act of 1934. The omitted portion
     has been filed separately with the Securities and Exchange Commission.]
     after that date, unless either party terminates the Agreement at the end of
     the first year by giving written notice to the other not less than [Omitted
     based upon a request for confidential treatment pursuant to Rule 24B-2
     under the Securities Exchange Act of 1934. The omitted portion has been
     filed separately with the Securities and Exchange Commission.] before the
     end of the first year.

9.2  Either party may (without prejudice to its other rights) terminate this
     Agreement by notice in writing to the other:

     (a)  if a voluntary agreement is approved, or an administration order is
        made, or a receiver or administrative receiver is appointed over any of
        the other party's assets or an undertaking or a resolution or petition
        to wind up the other party is passed or presented (other than for the
        purposes of amalgamation or reconstruction) or if any circumstances
        arise which entitle the Court or a creditor to appoint a receiver,
        administrative receiver or administrator or to present a winding-up
        petition or make a winding-up order or a similar event occurs in respect
        of the other party in any other jurisdiction; or

     (b)  if the other party breaches any material obligation hereunder and (in
        the case of a remediable breach) fails to remedy the breach within
        thirty days of receipt of written notice so to do

     and such termination shall take effect either forthwith or at a date
     specified in such notice.

9.3  Yahoo! may (without prejudice to its other rights) terminate this Agreement
     by notice in writing to CellPoint:

     (a)  [Omitted based upon a request for confidential treatment pursuant to
        Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
        portion has been filed separately with the Securities and Exchange
        Commission.] of Yahoo! (for this purpose, a person or company shall
        [Omitted based upon a request for confidential treatment pursuant to
        Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
        portion has been filed separately with the Securities and Exchange
        Commission.]; or

     (b)  if in the reasonable opinion of Yahoo!, [Omitted based upon a request
        for confidential treatment pursuant to Rule 24B-2 under the Securities
        Exchange Act of 1934. The omitted portion has been filed separately with
        the Securities and Exchange Commission.]

     and such termination shall take effect either forthwith or at a date
     specified in such notice.

9.4  Termination of this Agreement for any reason shall be without prejudice to
     the accrued rights of either party including but not limited to CellPoint's
     rights under Clause 7.1, to the right of Yahoo! to fulfil any orders for
     the Service and Telco Agreements placed prior to termination and to
     Clause 10.

                                       6
<PAGE>
10.  CONFIDENTIALITY

10.1 CellPoint agrees that it shall have no right to use any User Data (other
     than for the purpose of performing this Agreement) and that, as between
     CellPoint and Yahoo!, all Intellectual Property Rights in and to the User
     Data shall vest in Yahoo!.

10.2 The parties shall not use, copy, adapt, alter, disclose or part with
     possession of any business, employee or Telco information or data
     (including, in the case of CellPoint, the User Data, and in the case of
     Yahoo!, the Technology) of the other which is disclosed or otherwise comes
     into its possession directly or indirectly as a result of this Agreement
     and which is of a confidential nature ("Information") except as strictly
     necessary to perform its obligations or exercise its rights hereunder
     PROVIDED THAT this obligation shall not apply to Information:

     (a)  which the receiving party can prove was in its possession or in the
        public domain at the date it was received or obtained; or

     (b)  which the receiving party lawfully or properly obtains without
        obligation of confidentiality; or

     (c)  comes into the public domain otherwise than through the default or
        negligence of the receiving party; or

     (d)  [Omitted based upon a request for confidential treatment pursuant to
        Rule 24B-2 under the Securities Exchange Act of 1934. The omitted
        portion has been filed separately with the Securities and Exchange
        Commission.]

     (e)  which, with the prior consent of the other party (such consent not to
        be unreasonably withheld or delayed) is disclosed to obtain or maintain
        any listing on any recognised stock exchange; or

     (f)  is required to be disclosed to a court or a body having similar
        authority PROVIDED THAT the other party is given prompt notice and, at
        the other party's request and expense, the receiving party uses
        reasonable endeavours to obtain a protective order and otherwise to
        protect the Information; or

     (g)  which is required to be disclosed by the receiving party or on its
        behalf to its auditors (whether internal or external), regulators and
        other third parties who have the right to require that the receiving
        party supplies the relevant information.

10.3 CellPoint shall submit to Yahoo! all advertising, written sales promotion,
     press releases and other publicity matters relating to this Agreement and
     Yahoo! Find A Friend and shall not publish or use such advertising, sales
     promotion, press releases or publicity matters without the prior written
     approval of Yahoo! not to be unreasonably withheld.

10.4 In the event that CellPoint elects to file this Agreement with the
     Securities and Exchange Commission or any other securities exchange or
     market, regulatory authority or similar body, CellPoint will provide to
     Yahoo!, no less than five (5) business days before the expected date of the
     filing (the "Filing Date"), a copy of the Agreement marked to show the
     sections on which CellPoint plans to seek confidential treatment. CellPoint
     agrees to expand its confidential treatment request to include those
     provisions of this Agreement reasonably indicated by Yahoo! IN WRITING to
     CellPoint before the Filing Date as terms on which Yahoo! requests
     confidential treatment. Any failure to comply with the previous two
     sentences will be considered a material breach of this Agreement by
     CellPoint.

                                       7
<PAGE>
11.  MEETINGS

11.1 The parties shall have regular quarterly meetings (in person or by audio or
     video conference as agreed) to discuss the progress of this Agreement, such
     meetings to be minuted and copies of such minutes circulated to both
     parties. Any complaints or problems shall be discussed at such meeting and
     appropriate action shall be taken. Any unresolved problems emerging from
     such meetings shall be referred immediately to a Director of Yahoo! and a
     Director of CellPoint who shall attempt to resolve the issue.

12.  LIABILITY

12.1 Neither Yahoo! nor CellPoint shall be liable to the other in connection
     with the exercise of its rights or the performance of its obligations
     hereunder for any indirect, incidental, special or consequential loss
     whether arising from negligence, breach of contract or howsoever.

12.2 Neither party shall be liable to the other in respect of any failure to
     comply with its obligations hereunder to the extent that such failure
     arises out of the failure by the other party to perform its obligations
     hereunder.

13.  ASSIGNMENT

13.1 Neither party shall assign, charge or otherwise deal with all or any of its
     rights and obligations hereunder whether in whole or in part without the
     prior written consent of the other

14.  SERVICE OF NOTICE

14.1 Any notice, invoice, demand or other communication which may be given by
     either party under this Agreement shall be deemed to have been duly given
     if sent by prepaid recorded delivery post or by recognised overnight
     international couriers, to each party's address listed below:

     Address for Yahoo!:
     12 Lancer Square
     London W8 4EH

     Address for CellPoint Systems AB:
     Sofielundsvagen 4
     S-191 47 Sollentuna
     Sweden

     or to such other address as a party shall have notified to the other in
     writing pursuant hereto. Any such notice, invoice, demand or other
     communication shall be deemed to be effective on the earlier of receipt by
     the intended party or four days after being posted if sent by post in
     accordance with this clause.

15.  WARRANT

15.1 CellPoint shall procure that simultaneously with the execution of this
     Agreement, and as additional consideration for Yahoo! entering into this
     Agreement, CellPoint Inc., a Nevada corporation and parent of CellPoint,
     shall issue to Yahoo! Inc., a Delaware corporation, a warrant to purchase
     shares of common stock of CellPoint, Inc. in the form attached hereto as
     Schedule 5. Execution by CellPoint, Inc of the warrant attached as
     Schedule 5 shall be a CONDITION PRECEDENT to this Agreement.

                                       8
<PAGE>
16.  GENERAL

16.1 Failure by either party to exercise or enforce any right conferred by this
     Agreement shall not be deemed to be a waiver of any such right nor operate
     so as to bar the exercise or enforcement thereof or of any other right on
     any other occasion.

16.2 If any part, term or provision of this Agreement not being of a fundamental
     nature be held illegal or unenforceable the validity or enforceability of
     the remainder of this Agreement shall not be affected.

16.3 This Agreement may only be modified if such modification is in writing and
     signed by a duly authorised representative of each party.

16.4 This Agreement represents the entire understanding between the parties in
     relation to the subject matter hereof and supersedes all agreements made by
     either party, whether oral or written with respect to the same subject
     matter save for any confidentiality agreement between the parties. The
     parties agree that, save as expressly set out herein, neither party will
     have any liability for any untrue statement or representation made by it
     (whether innocently or negligently) upon which the other party relied in
     entering into this Agreement, unless such untrue statement or
     representation was made fraudulently. This Agreement shall prevail over any
     inconsistent terms and conditions in any other agreement between the
     parties or referred to in correspondence or elsewhere and any conditions or
     stipulations to the contrary are hereby excluded and extinguished.

16.5 This Agreement shall be governed by and construed and interpreted in
     accordance with the law of Sweden, and the parties hereby submit to the
     jurisdiction of the Stockholm City Court (Sw. Stockholm Tinsratt).

IN WITNESS whereof the parties or their authorised representatives have set
their hands the day and year first above written

/s/ Fabiola R. Arredondo
---------------------------------------
For and on Behalf of Yahoo! Sverige AB

Name: Fabiola R. Arredondo
      --------------------------------
Title: Managing Director, Yahoo!Europe
       -------------------------------
Date: May 4, 2000
      --------------------------------
/s/ Peter Henricsson
--------------------------------------
For and on Behalf of CellPoint Systems
AB

Name: Peter Henricsson
      --------------------------------
Title: Chairman
       -------------------------------
Date: May 4, 2000
      --------------------------------

                                       9

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