Document:

Exhibit 10.6

                            NON-COMPETITION AGREEMENT

      THIS NON-COMPETITION  AGREEMENT (the "Agreement") dated as of December 22,
2003 (the "Effective Date") is entered into by and between QUEST CHEROKEE,  LLC,
a Delaware limited liability  company (the "Company"),  CHEROKEE ENERGY PARTNERS
LLC,  a  Delaware  limited  liability  company  ("Investor"),  QUEST  OIL  & GAS
CORPORATION, a Kansas corporation ("QOG"), QUEST ENERGY SERVICES, INC., a Kansas
corporation  ("QES"),  STP  CHEROKEE,  INC., an Oklahoma  corporation  ("STPC"),
PONDEROSA GAS PIPELINE COMPANY,  INC., a Kansas corporation ("PGPL"),  PRODUCERS
SERVICE,  INCORPORATED,  a Kansas corporation ("PSI"), J-W GAS GATHERING, LLC, a
Kansas limited  liability  company  ("JW"),  and QUEST RESOURCE  CORPORATION,  a
Nevada corporation  (together with its subsidiaries and Affiliates,  whether now
existing or created  during the term hereof,  "QRC;" and QRC and  together  with
Investor, QOG, QES, STPC, PGPL, PSI and JW collectively the "Promisors" and each
individually a "Promisor").

      WHEREAS,  pursuant to Section 3.02(k) of the Membership  Interest Purchase
Agreement of even date herewith by and among the parties hereto (other than QRC)
(the  "Purchase  Agreement"),  it is a condition  to the  closing of  Investor's
purchase  of  10,000  Class  A Units  of the  Company  and  certain  other  loan
transactions that the Investor is entering into with the Company  (collectively,
the "Investor  Transaction")  that the Promisors  enter into this Agreement with
the Company.

      WHEREAS, QRC (i) owns, directly or indirectly, all of the capital stock or
membership or equity  interests of QOC, QES, STPC, PGPL, PSI and JW and (ii) has
determined  that its  execution,  delivery  and  performance  of this  Agreement
directly benefits, and are in the best interest of, QRC.

      WHEREAS, each of the Promisors has determined that its execution, delivery
and  performance  of this  Agreement  directly  benefits,  and  are in the  best
interest of, such Promisor.

      NOW,  THEREFORE,   in  consideration  of  the  foregoing  and  the  mutual
agreements  set forth  below,  and other good and  valuable  consideration,  the
receipt and  sufficiency  of which is hereby  acknowledged,  the parties  hereto
hereby agree as follows:

     1. Non-Competition.

     1.1. Definitions.

     (a) "Affiliate" or "Affiliates" means, with respect to a Person, any Person
that, directly or indirectly or through one or more intermediaries, controls, is
controlled  by or is under common  control with such  Person;  provided  that it
shall not include any Person that would be an "Affiliate" of Investor other than
ArcLight Energy  Partners Fund I, L.P. Any reference to the term  "Affiliate" of
any  Promisor  herein  shall  not  include  the  Company  and any  reference  to
"Affiliates" of the Company herein shall not include any of the Promisors.

     (b) "Area" means the area commonly  known as the Cherokee  Basin located in
the southeastern  portion of the State of Kansas and the northeastern portion of
the State of

<PAGE>

Oklahoma as more  particularly  described on Exhibit A and any other area, state
or foreign  country in which the Company begins to conduct  Business  during the
term hereof.

     (c)  "Business"  means  the  business  of  acquiring,   owning,  operating,
exploring,  developing and selling  properties (or interests therein) related to
the  discovery,  collection  and  sale of coal bed  methane  and  gathering  and
marketing  of such  properties  or coal  bed  methane,  and  any  other  regular
commercial  activity of the Company and the  Affiliates of the Company,  whether
now in existence or engaged in any time during the term hereof.

     (d) "Company  Information"  shall mean Trade Secrets and other confidential
and non-public information of, or related to, the Company.

     (e)  "Competing  Activities"  means a business,  commercial  enterprise  or
endeavor competitive with the Business.

     (f) "Person" means a person, firm, corporation,  company, limited liability
company, association or entity.

     (g)  "Restricted  Period" means,  with respect to each  Promisor,  the term
beginning  on the date  hereof  and  ending  on the date  that is two (2)  years
following  the date such  Promisor's  ownership,  and the ownership of all other
Affiliates of such Promisor, in the Company ceases.

     (h)  "Trade  Secrets"  means  business  or  technical  information  of  the
Business,  including  but not limited to a formula,  pattern,  program,  device,
compilation  of  information,  method,  technique,  or process that: (i) derives
independent actual or potential  commercial value (whether actual,  potential or
both)  from  not  being  generally  known  or  readily   ascertainable   through
independent  development  or  reverse  engineering  by  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.  Trade
Secrets shall specifically include, without limitation,  information relating to
the design, manufacture,  formulas, patterns,  compilations,  programs, devices,
methods, techniques, processes, applications, know-how, research and development
relating to the Business' present,  past or prospective products and/or computer
programs.  Trade Secrets shall not include any data or information  that (A) has
been  voluntarily  disclosed  to  the  public  by  the  Company,  (B)  has  been
independently  developed  and  disclosed to the public by others,  (C) otherwise
enters the public domain through lawful means, or (D) is lawfully and rightfully
disclosed to a Promisor following the date hereof by another party.

     1.2. Acknowledgement by Promisors.

      Each  Promisor  acknowledges  that (a) it is  familiar  with  the  Company
Information;  (b)  the  Business  is  conducted  throughout  the  Area;  (c) the
provisions  of this  Agreement  are  reasonable  and  necessary  to protect  and
preserve the Business;  (d) the Business would be irreparably damaged if it were
to breach the covenants set forth in this  Agreement;  and (e) the Company would
not have  entered  into the Purchase  Agreement  without its entering  into this
Agreement;  and (f) each  Promisor  would  not have  entered  into the  Purchase
Agreement  and  the  other  Investor  Transaction  but  for  each  of the  other
Promisor's entering into this Agreement.

                                       2
<PAGE>

     1.3. Restrictive Covenants.

      Each Promisor covenants and agrees that, during the Restricted Period:

     (a) it will not, directly or indirectly,  engage or participate,  or permit
any of its  Affiliates to engage or  participate,  in any  Competing  Activities
within the Area,  including,  without  limitation,  as an employee,  consultant,
independent  contractor  or other  capacity,  or invest in,  purchase or acquire
assets of, lend money or other property to, own, manage,  operate,  control,  or
otherwise participate in the ownership,  management,  operation,  or control of,
lend its name or any  similar  name to,  any  person,  entity or  business  then
engaged in  Competing  Activities  within  the Area.  In the event any Person in
which  ArcLight  Energy  Partners  Fund I, L.P. has an investment as of the date
hereof seeks or requests such fund's  approval or consent to engage in Competing
Activities in the Area,  then ArcLight  Energy  Partners Fund I, L.P.  shall not
support or consent to such  activities.  Each Promisor agrees that this covenant
is reasonable with respect to its duration, geographical area, and scope.

     (b) it will not,  directly or  indirectly,  (i) enter into or engage in any
discussions or  negotiations or assist in such actions to induce or encourage or
attempt to induce or encourage  any employee of the Business to leave the employ
of the Company or any Affiliate of the Company or in any way interfere  with the
relationship  between the Company or any  Affiliate  of the Company and any such
employee, or (ii) with respect to or in connection with Competing Activities, to
induce or  attempt to induce  any  customer,  supplier,  licensee,  or  business
relation  of the  Business,  within  the Area,  to cease  doing  business  or to
interfere with relationships with the Company or any Affiliate of the Company.

     2. Term; Termination. The term of this Agreement shall commence on the date
hereof and end at the expiration of the Restricted Period.

     3. Remedies. Each Promisor acknowledges and recognizes that a breach of any
of the covenants set forth in this Agreement would result in serious harm to the
Company for which monetary  damages would not be an adequate remedy and that the
amount of such damages may be difficult to determine; therefore, if any Promisor
breaches  the  covenants  set  forth  in this  Agreement,  the  Company  will be
entitled,  in addition to any other rights it may have, to obtain  injunctive or
other  equitable  relief in addition to any other  available  legal or equitable
remedies  without  the  necessity  of posting a bond to  restrain  any breach or
threatened  breach or otherwise to  specifically  enforce the provisions of this
Agreement,  it being agreed that  monetary  damages alone would be inadequate to
compensate  the Company and would be an inadequate  remedy for such breach.  The
rights and  remedies of the parties to this  Agreement  are  cumulative  and not
alternative.  The  existence  of any claim or cause of  action  of any  Promisor
against the Company or any other Promisor whether  predicated on this Agreement,
the  Purchase  Agreement,  the  Investor  Transaction  or  otherwise,  shall not
constitute a defense to the  enforcement  by the Company or any such Promisor of
these covenants and agreements. Each Promisor and the Company hereby acknowledge
and agree that (i) the  foregoing  covenants  are for the benefit of the Company
and each  Promisor,  (ii) each Promisor has the right to enforce the  provisions
hereof  for  itself  or on behalf  of the  Company,  (iii) in the event any such
Promisor elects to enforce this

                                       3
<PAGE>

Agreement, it shall have all of the rights and remedies available to the Company
hereunder  and (iv) in the  event any  Promisor  is unable to cause any of their
Affiliates that are subject to the  restrictions set forth herein to comply with
the terms and conditions set forth in this Agreement, then such Promisor will be
liable  for any  damages,  losses  or  other  liabilities  resulting  from  such
non-compliance.

     4.  Severability.  It is the express  intention  of the  parties  hereto to
comply with all laws that may be applicable  to Section 1 and other  Sections of
this Agreement. Whenever possible each provision and term of this Agreement will
be  interpreted  in a manner to be effective  and valid but if any  provision or
term of this Agreement is held to be prohibited or invalid,  then such provision
or  term  will  be  ineffective  only  to the  extent  of  such  prohibition  or
invalidity,  without  invalidating  or  affecting in any manner  whatsoever  the
remainder of such provision or term or the remaining provisions or terms of this
Agreement.  If any of the covenants set forth in Section 1 or other  Sections of
this Agreement are held to be unreasonable,  arbitrary or against public policy,
such  covenants  will be  considered  divisible and  modifiable  with respect to
scope,  time, and geographic area, so as to be enforceable and in such different
scope,  time and  geographic  area will be  effective,  binding and  enforceable
against the Promisors.

     5.  Governing  Law,   Arbitration.   This  Agreement  shall  be  construed,
interpreted,  and the rights of the parties  determined in accordance  with, the
laws of the State of Kansas except with respect to matters of law concerning the
internal  affairs of any corporate or Company  entity which is a party to or the
subject  of this  Agreement,  and as to those  matters  the law of the  state of
incorporation or organization of the respective entity shall govern. Any dispute
under this Agreement  between the parties hereto shall be settled by arbitration
in accordance  with Section 10.10 of that certain  Amended and Restated  Limited
Liability Company Agreement among the Promisors.

     6. Additional Instruments.  From time to time hereafter and without further
consideration,  each Promisor  agrees to execute and deliver such  additional or
further  instruments  and take such  actions  as the  Company  or  Investor  may
reasonably  request in order to more  effectively  effectuate  the covenants and
agreements  herein set forth or as shall be reasonably  necessary or appropriate
in connection with the carrying out of the parties' obligations hereunder or the
purposes of this Agreement.

     7. Entire Agreement and Amendments.  This Agreement, the Purchase Agreement
and the other agreements relating to the other Investor Transactions contain the
entire  agreement  of the  Promisors  and the  Company  relating  to the matters
contained herein and supersedes all prior agreements and understandings, oral or
written, between any Promisor and the Company with respect to the subject matter
hereof.  This Agreement may not be amended or modified except by an agreement in
writing  signed  by  the  party  against  whom  enforcement  of  any  waiver  or
modification is sought.

     8.  Assignments.  The Company may assign  this  Agreement  to any person or
entity  succeeding  to all or  substantially  all the business  interests of the
Company by merger or  otherwise.  The rights and  obligations  of each  Promisor
under this  Agreement are personal to it, and none of those rights,  benefits or
obligations will be subject to voluntary or involuntary  alienation,  assignment
or transfer, except as otherwise contemplated hereby; provided however,

                                       4
<PAGE>

that  Investor may sell,  transfer or assign its rights under this  Agreement to
any Person to which it sells,  transfers  or assigns  all or any  portion of its
Class A Membership  Interest in the Company and each of the other  Promisors may
sell,  transfer or assign its rights under this Agreement to any Person to which
it sells,  transfers  or assigns  all or any  portion of its Class B  Membership
Interest in the Company.

     9.  Effect of  Agreement.  Subject  to the  provisions  of  Section 10 with
respect to assignments,  this Agreement will be binding on each Promisor and its
respective  successors  and assigns and on the  Company and its  successors  and
assigns, except as otherwise contemplated hereby.

     10.  Execution.  This  Agreement may be executed in multiple  counterparts,
each of which will be deemed an original  and all of which will  constitute  one
and the same agreement.

     11.  Waiver of Breach.  The waiver by either  party to this  Agreement of a
breach of any provision of the Agreement by another party will not operate or be
construed as a waiver by the waiving party(ies) of any subsequent breach by such
other party.

                            [SIGNATURE PAGES FOLLOW]

                                       5
<PAGE>

      IN WITNESS  WHEREOF,  the parties  hereto have executed and delivered this
Agreement effective as of the date first above written.

                               QUEST CHEROKEE, LLC

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Manager

                               CHEROKEE ENERGY PARTNERS LLC

                               By:  /s/ Christopher J. Picotte

                                    -------------------------------
                               Name:  Christopher J. Picotte
                               Title: Vice President and Treasurer

                               QUEST OIL & GAS CORPORATION

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Co-Chief Executive Officer and Secretary

                               QUEST ENERGY SERVICES, INC.

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Co-Chief Executive Officer and Secretary

                               STP CHEROKEE, INC.

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Co-Chief Executive Officer and Secretary

                                       6
<PAGE>

                               PONDEROSA GAS PIPELINE COMPANY, INC.

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Co-Chief Executive Officer and Secretary

                               PRODUCERS SERVICE, INCORPORATED

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Co-Chief Executive Officer and Secretary

                               J-W GAS GATHERING, LLC

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Manager

                               QUEST RESOURCE CORPORATION

                               By:  /s/ Jerry Cash
                                    -------------------------------
                               Name:  Jerry D. Cash
                               Title: Co-Chief Executive Officer and Secretary

                                       7
<PAGE>

                                    EXHIBIT A
                                       to
                            Non-Competition Agreement

"Cherokee  Basin" shall consist of the area contained within the Counties listed
below:

STATE OF KANSAS

      Allen County
      Chautauqua County
      Cowley County
      Elk County
      Greenwood County
      Labette County
      Montgomery County
      Neosho County
      Wilson County
      Woodson County

STATE OF OKLAHOMA

      Craig County
      Nowata County

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Exhibit 10.2  

Execution Version  

  
 

    STANDSTILL AGREEMENT    
    

        This Standstill Agreement (this "Agreement") is entered into as of January 5, 2004, by and between
UnitedGlobalCom, Inc., a Delaware corporation ("United"), and Liberty Media Corporation, a Delaware corporation
("Liberty"). 

Background  

        Pursuant to a Share Exchange Agreement, dated as of August 18, 2003 (as amended, the "Share Exchange
Agreement"), by and among Liberty and the holders of the Class B Stock (the "Stockholders"), the Stockholders are
transferring to Liberty all of the outstanding shares of Class B Stock, in exchange (the "Exchange") for shares of Series A common stock,
par value $0.01 per share of Liberty and cash as set forth therein. 

        By
virtue of the Exchange, the Stockholders Agreement, dated as of January 30, 2002 (the "Stockholders Agreement"), among United,
Liberty, certain subsidiaries of Liberty and the Persons designated on the signature pages thereof as Founders will terminate in accordance with its terms. Upon termination of the Stockholders
Agreement, among other things, the Standstill Agreement, dated as of January 30, 2002 (the "Old Standstill Agreement"), among United, Liberty and
certain Liberty subsidiaries, and the Voting Agreement, dated as of January 30, 2002, among United and the Persons designated on the signature pages thereof as Founders, will each
terminate in accordance with its terms, and the Class C Stock will be freely convertible into Class B Stock in accordance with the Restated Certificate of Incorporation of United. 

Agreement  

        In consideration of the promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows: 

        Section 1:    Certain Definitions.    

        In
this Agreement, the following terms have the following meanings. 

        Affiliate.    When used with reference to a specified Person, any Person who directly or indirectly through one or more
intermediaries, Controls, is Controlled by, or is under common Control with, the Person specified; provided that (i) no officer or director of a
Person, or any Affiliate of such officer or director, investing for his, her or its own account or otherwise acting in his, her or its individual capacity, and no director of a Person, or any
Affiliate of such director, acting in his, her or its capacity as an officer, director, trustee, representative or agent of a Person that is not an Affiliate of the specified Person, and in each case
not in concert with or at the direction or request of such specified Person, shall be deemed to be an Affiliate of such specified Person, (ii) none of Liberty and its Controlled Affiliates
shall be deemed to be an Affiliate of United or any of its Controlled Affiliates and (iii) none of United and its Controlled Affiliates shall be deemed to be an Affiliate of Liberty and its
Controlled Affiliates. 

        Agreement.    As defined in the preamble. 

        Board:    The Board of Directors of United. 

        Business Day.    Any day other than Saturday, Sunday and a day on which banks are required or permitted to close in Denver,
Colorado or New York, New York. 

        Buyout Transaction.    A tender offer, exchange offer, merger or other transaction, as Liberty or the applicable Controlled
Affiliate of Liberty may elect, that involves an offer to acquire or results in the 

 

acquisition
of all of the outstanding shares of Common Stock held by Persons who are not Affiliates of Liberty ("Unaffiliated Stock"). 

        Class A Stock.    The Class A common stock, $0.01 par value per share, of United. 

        Class B Stock.    The Class B common stock, $0.01 par value per share, of United. 

        Class C Stock.    The Class C common stock, $0.01 par value per share, of United. 

        Common Stock.    The Class A Stock, the Class B Stock and the Class C Stock. 

        Control and derivative terms.    The possession directly or indirectly of the power to direct or cause the direction of the
management and policies of another Person, whether through the ownership of voting securities, by contract or otherwise. 

        Controlled Affiliate.    When used with reference to a specified Person, an Affiliate of such Person that such Person directly,
or through one or more intermediaries, Controls; provided that, none of United and its Controlled Affiliates shall be deemed to be a Controlled
Affiliate of Liberty. 

        Control Transfer.    Any sale, exchange, transfer or other disposition by Liberty or any of its Controlled Affiliates in one or
more transactions of a number of shares of Common Stock representing Control of United, and any indirect transfer of such number of shares through any transfer of Control or relinquishment of Control
of any Controlled Affiliate, to a Person that, after giving effect to such transaction (or the last such transaction), is not a Controlled Affiliate of Liberty, or to two or more Persons that, after
giving effect to such transaction (or the last such transaction), are not Controlled Affiliates of Liberty and who together constitute a Group for purposes of such transferred Common Stock, but
excluding a transfer by operation of law in connection with any merger, consolidation, statutory share exchange or similar transaction involving United. 

        Equity Securities.    The Common Stock and any other voting securities issued by United (other than preferred stock with
customary limited voting rights). 

        Exchange Act.    The Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. 

        Fair Price.    The fair market value of a share of Common Stock determined using methodologies customarily employed by
investment bankers in determining the fair market value of shares of publicly held companies, without applying any discount or premium for minority interests in the Common Stock and without regard to
the transaction giving rise to the determination of Fair Price. 

        Family Member.    With respect to a person includes such person's spouse, parents, grandparents, children, grandchildren,
siblings, mothers- and fathers-in-law, sons- and daughters-in-law and brothers- and sisters-in-law. 

        Governmental Authority.    Any court, arbitrator, administrative or other governmental department, agency, commission, authority
or instrumentality, domestic or foreign. 

        Group.    As defined in Section 13(d) of the Exchange Act and the rules and regulations thereunder. 

        Independent Directors.    A director of United who would be considered to be independent as to United and Liberty under the
applicable rules of the Nasdaq Stock Market and who is not a Stockholder or an Affiliate or Family Member of a Stockholder. 

        Liberty.    As defined in the preamble. 

2

 

        Maximum Percentage.    As of any relevant date, ninety percent of the total number of shares of Common Stock then outstanding. 

        Old Standstill Agreement.    As defined in the recitals. 

        Person.    Any individual, firm, corporation, partnership, limited liability company, trust, joint venture, or other entity, and
shall include any successor (by merger or otherwise) of such entity. 

        Qualified Appraiser.    An investment banking firm of nationally recognized standing with experience in valuing businesses of
the type then engaged in by United. 

        Rights.    Any securities of United (which may include Equity Securities) that (contingently or otherwise) are exercisable,
convertible or exchangeable for or into Equity Securities of United (with or without consideration) or that carry any right to subscribe for or acquire Equity Securities or securities exercisable,
convertible or exchangeable for or into Equity Securities of United. 

        Securities Act.    The Securities Act of 1933, as amended, and the rules and regulations thereunder. 

        Short-Form Merger.    A merger of a parent and subsidiary or subsidiaries as contemplated by
Section 253 of the Delaware General Corporation Law (or any successor provision of such law) or the equivalent under the law of any other applicable jurisdiction with respect to which statutory
appraisal rights are available to holders of minority interests. 

        Unaffiliated Stock.    As defined in the definition of Buyout Transaction. 

        United.    As defined in the preamble. 

        Section 2:    Acquisition of Common Stock; Other Covenants.    

        (a)   Liberty
shall not, and shall not permit any of its Controlled Affiliates to, acquire any additional shares of Common Stock if immediately after such acquisition the
number of shares of Common Stock owned, in the aggregate, by Liberty and its Controlled Affiliates would exceed the Maximum Percentage (a "Triggering
Acquisition"), unless before or promptly following the Triggering Acquisition, or in connection therewith, Liberty commences or causes to be commenced a Buyout Transaction that
complies with one of the following provisions of this Section 2. Liberty shall not be in breach of this Section 2(a) solely because Liberty and its Controlled Affiliates own, in
the aggregate, a number of shares of Common Stock exceeding the Maximum Percentage after and because of any action taken by United or any Affiliate of United (including the repurchase or redemption by
United or any of its Affiliates of Equity Securities or Rights, the issuance of Equity Securities or Rights, including pursuant to an offer by United or any of its Affiliates to its security holders
of rights to subscribe for Equity Securities, the expiration of Rights, or the declaration by United of a dividend in respect of any class of Equity Securities payable at the election of such security
holders either in cash or in Equity Securities) in respect of which Liberty or a Controlled Affiliate of Liberty shall not have taken any action except as permitted to be taken by holders of Equity
Securities or Rights in their capacities as such (including as a result of an election not to tender any of such Equity Securities owned by Liberty or its Controlled Affiliates pursuant to any such
offer to repurchase, an election to purchase Equity Securities or Rights pursuant to any such subscription offer or an election to be paid a dividend in respect of the Equity Securities owned by
Liberty or its Controlled Affiliates in Equity Securities or Rights instead of cash). 

        (b)   The
Buyout Transaction may be effected as a Short-Form Merger on such terms and conditions as Liberty or its Controlled Affiliate may determine in its
sole discretion. A Buyout Transaction in the form of a Short-Form Merger will be deemed to have been promptly commenced if a public announcement of the intention to effect a
Short-Form Merger is made promptly following the Triggering Acquisition and Liberty or the applicable Controlled Affiliate 

3

 

commences
taking the steps required to effect the Short-Form Merger as promptly as practicable thereafter. 

        (c)   If
the Buyout Transaction is to be effected other than through a Short-Form Merger, then Liberty or the applicable Controlled Affiliate shall disclose to the
Board the manner in which the Buyout Transaction is to be effected and the consideration to be paid or delivered therefor, which notice, in the case of a tender offer or exchange offer or similar
transaction, may be given contemporaneously with the commencement thereof. 

        (d)   If
the Buyout Transaction is to be effected by operation of law through a merger, consolidation or other reorganization (other than a
Short-Form Merger) and a majority of the Independent Directors have not voted against approval by the Board of the proposed transaction, then such Buyout Transaction may be effected
on the terms and for the consideration approved by the Board. If a majority of the Independent Directors have voted against approval by the Board of the proposed transaction, United shall promptly so
notify Liberty or the applicable Controlled Affiliate and the Buyout Transaction will be suspended pending the determination of the Appraised Value of a share of Common Stock pursuant to
Section 2(f). Following such determination, Liberty or the applicable Controlled Affiliate may, but will not be obligated to, proceed with the Buyout Transaction provided that the value of the
consideration per share of Common Stock to be received by the holders of Unaffiliated Stock, as determined by the Board at the time the definitive agreement for such Buyout Transaction is approved, is
not less than the Appraised Value. 

        (e)   If
the Buyout Transaction is a tender offer, exchange offer or other transaction that is not by operation of law, and a majority of the Independent Directors have not
voted to recommend against acceptance of such Buyout Transaction, then such Buyout Transaction may be effected for the same or any greater consideration than that notified to the Board. If a majority
of the Independent Directors have voted to recommend against acceptance of such Buyout Transaction, then United shall promptly so notify Liberty or the applicable Controlled Affiliate and the Buyout
Transaction will be suspended pending the determination of the Appraised Value of a share of Common Stock pursuant to Section 2(f). Following such determination, Liberty or the applicable
Controlled Affiliate may, but will not be obligated to, proceed with the Buyout Transaction provided that the value of the consideration offered per share of Common Stock, as determined by the Board
at the time the transaction is permitted to proceed, is not less than the Appraised Value. 

        (f)    Within
ten days after Liberty's receipt of a notice from United pursuant to Section 2(d) or 2(e) above, each of Liberty and United, by action
of a committee of the Board comprised solely of the Independent Directors, shall select a Qualified Appraiser, each of which Qualified Appraisers shall make a determination (each such determination,
an "Appraisal") of the Fair Price of a share of the Common Stock and shall deliver the written report of such Appraisal to the parties within
20 days following the retention of such Qualified Appraiser. If the higher of such Appraisals is less than or equal to 110% of the lower of such Appraisals, then the Appraised Value shall be
equal to the arithmetic average of such Appraisals. If the higher of such Appraisals is greater than 110% of the lower of such Appraisals, then a third Qualified Appraiser shall be selected by the
first two Qualified Appraisers within five days after the final initial Appraisal is completed. The third Qualified Appraiser shall make an Appraisal of the Fair Price of a share of the Common
Stock and shall deliver the written report of such Appraisal within 20 days following the retention of such third Qualified Appraiser, and the Appraised Value shall equal the arithmetic average
of the two of such three Appraisals closest in value (or if there are no such two, then of all three Appraisals). 

4

 

        (g)   In
connection with any Appraisal of the Fair Price of a share of Common Stock pursuant to this Agreement, United shall, and shall cause its Controlled Affiliates to,
cooperate with such Appraisal and any Qualified Appraiser. In furtherance and not in limitation of the foregoing, in connection with any Appraisal United will, and will cause each of its Controlled
Affiliates to, (i) provide all requested books, records and financial information regarding such Person and such Person's business, assets, properties and financial condition to each such
Qualified Appraiser, (ii) make its officers available to such Qualified Appraiser in order to answer questions about such Person's business, assets, properties and financial condition and
(iii) otherwise take such actions as may be necessary in order to ensure that the Qualified Appraisers are in possession of all information necessary to complete the Appraisals within the time
frames specified above. 

        Section 3:    Control Transaction.    

        Liberty
shall not effect or permit to be effected a Control Transfer, unless the Person that, after giving effect to such transaction, will Control United, delivers to United an
undertaking to become a party to this Agreement with the same rights and obligations as if it had been named as Liberty hereunder, and upon such delivery Liberty shall be released from all obligations
under this Agreement. 

        Section 4:    Stockholders Agreement.    

        In
consideration of the covenants made by Liberty herein, United hereby agrees that the covenants made by it in Section 10(a) of the Stockholders Agreement shall remain in
effect, notwithstanding the termination of the Stockholders Agreement, with the same force and effect as if set forth in full herein. 

        Section 5:    Representations and Warranties.    

        Each
of Liberty, on the one hand, and United, on the other, represent and warrant to each other as of the date of this Agreement as follows: 

        (a)   Such
party has the right, power, legal capacity and authority to enter into and perform its obligations under this Agreement, and this Agreement constitutes such party's
valid and binding obligation, enforceable in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
similar laws affecting creditors' rights and remedies generally, and to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of
whether enforcement is sought in a proceeding at law or in equity). 

        (b)   Such
party has obtained all authorizations, permits, approvals or consents of any Persons, including all authorizations, permits, approvals or consents of any
Governmental Authorities, necessary to enter into and perform its obligations under this Agreement, except as would not, individually or in the aggregate, adversely affect such party's ability to
perform its obligations under this Agreement. 

        (c)   This
Agreement and the transactions it contemplates do not conflict with any applicable law or any contract or agreement to which it is a party or constitute a default
under any such contract or agreement, except as would not, individually or in the aggregate, adversely affect such party's ability to perform its obligations under this Agreement. 

        Section 6:    Remedies.    Each of the parties acknowledges and agrees that in the event of any breach of this
Agreement, the nonbreaching party would be irreparably harmed and could not be made whole by monetary damages. Accordingly, the parties to this Agreement, in addition to any other remedy to which they
may be entitled hereunder or at law or in equity, shall be entitled to compel specific performance of this Agreement. 

5

 

        Section 7:    Termination.    The provisions of this Agreement will expire on June 25, 2010. 

        Section 8:    Notices.    All notices, requests, demands and other communications required or permitted
hereunder shall be in writing, shall be deemed to have been duly given when delivered personally or, sent by telecopy, or recognized service providing for guaranteed delivery, addressed as follows: 

        (a)   If
to United, to it at: 

UnitedGlobalCom, Inc.

4643 South Ulster Street

Suite 1300

Denver, Colorado 80237

Attention: President

Fax: (303) 770-4207 

with
copies to: 

UnitedGlobalCom, Inc.

4643 South Ulster Street

Suite 1300

Denver, Colorado 80237

Attention: General Counsel

Fax: (303) 770-4207 

and
to 

Holme
Roberts & Owen LLP

1700 Lincoln, Suite 4100

Denver, Colorado 80203

Attention: W. Dean Salter, Esq.

Fax: (303) 866-0200 

        (b)   If
to Liberty, to it at: 

Liberty
Media Corporation

12300 Liberty Blvd.

Englewood, Colorado 80112

Attention: President

Fax: (720) 875-5382 

with
copies to: 

Liberty
Media Corporation

12300 Liberty Blvd.

Englewood, Colorado 80112

Attention: Elizabeth M. Markowski, Esq.

Fax: (720) 875-5858 

and
to 

Baker
Botts L.L.P.

30 Rockefeller Plaza

New York, New York 10112

Attention: Robert W. Murray, Esq.

Fax: (212) 408-2501 

6

 

or
to such other person or address or addresses as Liberty or United shall specify by notice in accordance with this Section 8. All notices, requests, demands, waivers and communications shall
be deemed to have been received on the date of delivery or on the first Business Day after delivery was guaranteed by a recognized delivery service, except that any change of address shall be
effective only upon actual receipt. Written notice given by telecopy shall be deemed effective when confirmation is received by the sending party. 

        Section 9:    Entire Agreement.    This Agreement contains all the terms and conditions agreed upon by the
parties hereto, and no other agreements (except to the extent referenced hereby), oral or otherwise, regarding the subject matter hereof shall have any effect unless in writing and executed by the
parties after the date of this Agreement. Without limiting the generality of the foregoing, this Agreement supersedes and discharges the Old Standstill Agreement; provided
that, (a) United's obligations under the final sentence of Section 9(b) of the Old Standstill Agreement shall survive the execution and delivery hereof and the
termination of the Old Standstill Agreement and (b) Sections 7B and the related definitions in Section 1 of the Old Standstill Agreement shall survive the execution and delivery
hereof
and the termination of the Old Standstill Agreement as set forth in, and as modified by, the letter agreement, dated November 12, 2003, between Liberty (on behalf of each of the Liberty Parties
(as defined in the Old Standstill Agreement)) and United. 

        Section 10:    Applicable Law, Jurisdiction; Waiver of Jury Trial.    This Agreement shall be governed by
Colorado law without regard to conflict of law rules. The parties hereby irrevocably submit to the exclusive jurisdiction of any Colorado State or United States Federal court sitting in Colorado, and
the undersigned hereby irrevocably agree that all claims in respect of any action or proceeding arising out of or relating to this Agreement shall be heard and determined in such a State or Federal
court. The undersigned further waive any objection to venue in such State and any objection to any action or proceeding in such State on the basis of a non-convenient forum. Each party
hereby IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY in any proceeding brought with respect to this Agreement or the transactions contemplated hereby. 

        Section 11:    Headings.    The headings in this Agreement are for convenience only and are not to be
considered in interpreting this Agreement. 

        Section 12:    Counterpart Execution.    This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original but all of which will constitute a single agreement. 

        Section 13:    Parties in Interest.    Nothing in this Agreement, express or implied, is intended to confer
upon any Person other than the parties hereto, and their permitted successors and assigns any benefits, rights or remedies. Except as contemplated by Section 3 hereof, neither this Agreement
nor the rights or obligations of any party may be assigned or delegated, by operation of law or otherwise without the prior written consent of Liberty and United. 

        Section 14:    Severability.    The invalidity or unenforceability of any provision of this Agreement in any
application shall not affect the validity or enforceability of such provision in any other application or the validity or enforceability of any other provision. 

        Section 15:    Waivers and Amendments.    No waiver of any provision of this Agreement shall be deemed a
further or continuing waiver of that provision or a waiver of any other provision of this Agreement. This Agreement may not be amended except in a writing signed by United and Liberty. The Board, by
majority vote of the Independent Directors, may in it sole discretion waive any provision of this Agreement that imposes obligations on or restricts the rights of or actions by Liberty. 

        Section 16:    Interpretation.    As used herein, except as otherwise indicated herein or as the context may
otherwise require, the words "include," "includes" and "including" are deemed to be followed by "without limitation" whether or not they are in fact followed by such words or words of like import; 

7

 

the
words "hereof," "herein," "hereunder" and comparable terms refer to the entirety of this Agreement and not to any particular article, section or other subdivision hereof; any pronoun shall
include the corresponding masculine, feminine and neuter forms; the singular includes the plural and vice versa; references to any agreement or other document are to such agreement or document as
amended and supplemented from time to time; references to any statute or regulation are to it as amended and supplemented from time to time, and to any corresponding provisions of successor statutes
or regulations; references to "Article," "Section" or another subdivision are to an article, section or subdivision hereof; and all references to "the date hereof," "the date of this Agreement"
or similar terms (but excluding references to the date of execution hereof) refer to the date first above written, notwithstanding that the parties may have executed this Agreement on a later date.
Any reference herein to a "day" or number of "days" (without the explicit qualification of "Business") shall be deemed to refer to a calendar day or number of calendar days. If any action or
notice is to be taken or given on or by a particular calendar day, and such calendar day is not a Business Day, then such action or notice may be taken or given on the next succeeding Business Day. 

        Section 17:    Rules of Construction.    The parties hereto agree that they have been represented by
counsel during the negotiation, preparation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in
an agreement or other document will be construed against the party drafting such agreement or document. 

[signature
page follows] 

8

 

        IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. 

	

 	
 	

UNITEDGLOBALCOM, INC., a Delaware corporation
	

 	
 	

By:	
 	

/s/  ELLEN P. SPANGLER      

	 	 	Name:	 	Ellen P. Spangler
	 	 	Title:	 	Senior Vice President
	

 	
 	

LIBERTY MEDIA CORPORATION, a Delaware corporation
	

 	
 	

By:	
 	

/s/  ELIZABETH M. MARKOWSKI      

	 	 	Name:	 	Elizabeth M. Markowski
	 	 	Title:	 	Senior Vice President

9

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STANDSTILL AGREEMENT

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