Document:

EXHIBIT 10(a)
                                                                   -------------

                       SETTLEMENT AND CONSULTING AGREEMENT
                       -----------------------------------

         THIS AGREEMENT, dated the 9th day of May, 2003, by and between HARSCO
CORPORATION (hereinafter referred to as "Harsco") and Paul C. Coppock
(hereinafter referred to as "Employee").

                                    Recitals

         Employee has been employed by Harsco as Senior Vice President, Chief
Administrative Officer, General Counsel and Secretary. Employee now desires to
resign his employment and the parties desire to establish a consulting
arrangement to facilitate the transition of responsibilities, and to set forth
herein certain terms and conditions of such resignation.

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

         1. RESIGNATION OF EMPLOYMENT. Effective on the date hereof, Employee
agrees to resign his employment with Harsco. Effective on the date hereof,
Employee also hereby resigns as a director and/or officer of any other
subsidiary, or related or affiliated company of Harsco. Harsco and Employee will
also execute the attached Consulting Agreement effective May 9, 2003.

         2. PAYMENTS TO EMPLOYEE. Employee acknowledges the receipt from Harsco
of all salary earned and accrued through the date hereof, and payment of accrued
but unused vacation. In addition, in consideration of Employee's execution of
this Agreement and the Full and Final General Release referred to in Section 9
hereof, Harsco shall (a) on the date this Agreement becomes effective pay
Employee the amount of $125,000;(b) subject to the approval of the Management
Development & Compensation Committee of the Harsco Board of Directors, make
Employee eligible to participate in the Harsco Executive Incentive Compensation
Plan for the period ending December 31, 2003, on a pro-rated basis for completed
months of service during the 2003 Plan Year which would be four (4) months, in
accordance with the terms of the Plan based upon the same level of goal
attainment that is applied to all other Harsco Corporate officers with any such
incentive compensation that may be awarded at the sole discretion of Harsco's
Board of Directors payable to Employee at the same time as other participating
employees; and (c) on the date this Agreement becomes effective, transfer title
to the company vehicle currently in Employee's possession to Employee. Employee
shall maintain full responsibility for such vehicle upon transfer. All amounts
payable under this Section will be subject to any applicable local, state and
federal tax withholding obligations. Employee agrees to indemnify and hold
Harsco harmless from liability for tax payments, required tax withholdings,
penalties, additions to tax and/or interest which may result from payments or
transfers made under this Agreement and that except for any consulting fees that
may be earned under the attached Consulting Agreement, Harsco shall not be
required to pay any further sums to Employee for any reason as part of this
settlement even if the tax liabilities and

<PAGE>

consequences to Employee are ultimately assessed in a fashion not presently
anticipated by Employee.

         3. ACKNOWLEDGMENT. Harsco and Employee acknowledge the following:

                  (a) Employee has vested participation in the Harsco Employees
Pension Plan and the Harsco Corporation Savings Plan and may make appropriate
election for distribution or payment of benefits from those qualified Plans
according to their respective provisions. Employee also has vested participation
in the Harsco Corporation Supplemental Retirement Benefit Plan, and will receive
a distribution of benefits in accordance with the terms of such Plan. It is
Employee's current intention to begin receiving pension payments at age 55 in
accordance with the terms of these Plans;

                  (b) Employee has the right to exercise any stock options
within a three (3) month period following the date hereof, provided that the
vesting requirement for any such options were satisfied prior to the date
hereof;

                  (c) Harsco-provided group health insurance, group term life
insurance and accidental death and dismemberment insurance, if any, shall cease
in accordance with the provisions of such plans, and Employee intends to
continue the group health insurance coverage at Employee's cost in accordance
with COBRA immediately upon termination; and

                  (d) Harsco-provided long and short term disability coverage
shall cease on the date hereof.

         4. OTHER BENEFITS. Employee agrees that the payments provided for in
Section 2 above and any benefits as described in Section 3 above include and are
substantially in excess of any and all benefit payments payable under Harsco's
employee benefit plans and policies including, without limitation, the Harsco
Corporation Employment and Benefits Upon Termination Plan, and Employee waives
and forever discharges Harsco and any of its affiliates from any liability to
pay any additional salary continuation pay, termination pay, commission, bonus,
or other benefit which otherwise may have been payable to Employee as a result
of Employee's employment with Harsco or Employee's termination of employment
under benefit plans or policies of Harsco in effect on the date hereof, it being
the intention of the parties hereto to convert and merge all such rights into
this Agreement.

         5. NONCOMPETITION. In consideration of the payments provided to
Employee in this Agreement, Employee agrees that for a period of twenty-four
(24) months from the date hereof Employee shall not, directly or indirectly:

                  (a) for Employee or on behalf of any other person, persons,
partnership, corporation, or other entity, directly or indirectly solicit,
divert or attempt to solicit or divert, any customer of Harsco; or

                                        2
<PAGE>

                  (b) render services to, become employed by, own, or have a
financial or other interest in (either as an individual, partner, joint
venturer, owner, manager, stockholder, employee, partner, officer, director,
independent contractor, or other such role) any business which is engaged in a
same, similar or competitive business as Harsco.

                  Employee acknowledges that he has received fair and adequate
consideration for the covenants contained in this Section. Employee agrees that
if any of the provisions of this Section are or become unenforceable, the
remainder hereof shall nevertheless remain binding upon him to the fullest
extent possible, taking into consideration the purposes and spirit of this
Agreement. Employee acknowledges that in the event of a breach by him of the
provisions of this Section, Harsco would have no adequate remedy at law and
would suffer substantial and irreparable damages. Accordingly, Employee hereby
agrees that in such event, Harsco shall be entitled to temporary and/or
permanent injunctive relief, without the necessity of proving damage, to enforce
the provisions of this Section, all with out prejudice to any and all other
remedies which Harsco may have at law or in equity and which Harsco may elect or
invoke.

         6. NON-SOLICITATION OF HARSCO EMPLOYEES. Employee agrees that for a
period of one (1) year after the date hereof, Employee will not participate in
recruiting any Harsco employees or in the solicitation of any Harsco employees;
and Employee will not communicate to any other person or entity, about the
nature, quality or quantity of work, or any special knowledge or personal
characteristics of any person employed by Harsco. Should Employee wish to
discuss possible employment with any then-current Harsco employee during the one
year period set forth above, Employee may request permission to do so from the
Chief Executive Officer who may in his discretion grant a written exception to
the no solicitation agreement set forth above, provided, however, Employee
agrees that Employee will not discuss any such employment possibility with such
employees prior to securing Harsco's permission. Should Harsco decline to grant
such permission, Employee agrees that Employee will not at any time, either
during or after the non-solicitation period set forth above, advise the employee
concerned that the employee was the subject of a request under this paragraph or
that Harsco refused to grant Employee the right to discuss an employment
possibility with the employee.

         7. FURTHER COVENANTS BY EMPLOYEE. As further conditions to Harsco's
performance of this Agreement, Employee agrees: (a) not to make any public
statement or statements to the press concerning Harsco, its business objectives,
its management practices, or other sensitive information without first receiving
Harsco's written approval; (b) that Employee will not disclose to any person or
use for Employee's own benefit any confidential or proprietary information
concerning the customers, suppliers, price lists, catalogs, products,
operations, sales techniques or other business related information of Harsco;
and (c) that Employee shall take no action which would cause Harsco or its
employees or agents any embarrassment or humiliation or otherwise cause or
contribute to Harsco's or any such person's being held in disrepute by the
general public or Harsco's employees, clients, or customers.

                                        3
<PAGE>

         8. WAIVER OF CLAIMS. Employee, for Employee, and for Employee's
attorneys, heirs, executors, administrators, personal representatives,
successors and assigns, for and in consideration of promises made herein, does
hereby irrevocably and KNOWINGLY, VOLUNTARILY and unconditionally waive and
release fully and forever any claim of any and every nature whatsoever against
Harsco, and its past and present parents, subsidiaries and divisions, its
related or affiliated companies, their predecessors, successors, assigns past
and present, and partners, officers, directors, agents, representatives,
attorneys, employees or trustees of any or all of the aforesaid entities
(hereinafter collectively referred to as "Harsco"), for any action or cause of
action, loss, expense or any damages of whatever nature arising from any
occurrence or occurrences, from the beginning of time until the date hereof,
including without limitation any claims arising or in any way resulting from or
relating to Employee's employment with Harsco or the termination thereof (but
excepting the benefits acknowledged in Section 3 to be due.) Without limitation
of the foregoing, Employee specifically waives any claims arising under Title
VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age
Discrimination in Employment Act, the Americans with Disabilities Act, the Fair
Labor Standards Act, the Pennsylvania Human Relations Act, all as amended, or
any other federal, state, or local law which forbids discrimination on the basis
of age, sex, sexual orientation, race, color, national origin, religion or
disability, or any other claim at common law. Employee warrants and represents
with the understanding that such warranty and representation is material to this
transaction, that no person or entity has asserted with any federal, state or
local judicial, or administrative agency or body any claim of any kind or
character based on or arising out of or alleged to be suffered in or as a
consequence of Employee's employment with Harsco, its termination, or Employee's
contacts and relationships with Harsco or any party against whom claims are
waived pursuant to this Agreement. Further, Employee represents and agrees, with
the understanding that such representation and agreement is material to this
transaction, that Employee will not assert, in any manner or by any means, any
such claim before any federal, state or local judicial or administrative agency
or body. In the event any such claim is asserted in the future by Employee, or
any person or entity authorized by Employee to do so, Employee agrees that this
Agreement and the Full and Final General Release which Employee has signed
contemporaneously herewith shall act as a total and complete bar to Employee's
re-employment or to recovery of any sum or amount whatsoever from Harsco,
whether labeled "award, liability, damages, judgment, backpay, wages, or fine"
or otherwise resulting directly or indirectly from any lawsuit, remedy, charge,
or complaint whether brought privately by Employee or by anyone else, including
any federal, state, or local agency, whether or not on Employee's behalf or at
Employee's request.

         9. FULL AND FINAL GENERAL RELEASE. Employee agrees that Employee will
execute the document attached to this Agreement as Exhibit A entitled Full and
Final General Release at the time this Agreement is signed. The parties agree
that in the event said Release is not executed at said time, this Agreement
shall be null and void and of no binding effect on either party.

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<PAGE>

         10. DEVELOPMENTS. Employee agrees that all ideas, inventions, trade
secrets, know how, documents and data ("Developments") developed either during,
in connection with, or pursuant to Employee's employment with Harsco, shall
remain and become the exclusive property of Harsco. Employee agrees to provide
all reasonable assistance to Harsco in perfecting and maintaining its rights to
the Developments. Harsco shall have the right to use the Developments for any
purpose without any additional compensation to Employee.

         11. RE-EMPLOYMENT. Employee agrees that the employment relationship
with Harsco has been permanently and irrevocably severed and that Harsco has no
obligation, contractual or other to rehire, reemploy or hire Employee in the
future.

         12. NO REPRESENTATIONS OF FACT OR OPINION. Employee agrees and admits
that no representation of fact or opinion has been made by either party or any
representative thereof, either jointly or individually, to induce this
Settlement Agreement or the Full and Final General Release attached hereto and
Employee hereby agrees that Harsco does not admit any wrongdoing or liability of
any sort and that Harsco has made no representation as to any wrongdoing or
liability of any sort and that this Agreement is executed as a compromise to
avoid the possible expense of litigation and to terminate all controversy and/or
claims by Employee.

         13. REMEDIES. Employee agrees that in the event Harsco breaches any of
the provisions of this Agreement, Employee's sole remedy for such breach shall
be the enforcement of the terms of this Agreement.

         14. GOVERNING LAW. This Agreement and the attached Release shall be
governed by the laws of the Commonwealth of Pennsylvania, and they constitute
the entire and exclusive agreement between the parties hereto with respect to
the termination of Employee's employment and any rights and duties owed by
Harsco to Employee and they shall supersede all previous or contemporaneous
negotiations, commitments, statements, and writings.

         15. NON-INTERFERENCE. Employee states and admits that Harsco has taken
no action interfering with any right which Employee has to file any charge,
suit, claim or other process with any federal, state, or local judicial or
administrative agency or body regarding Employee's employment or the termination
thereof or any right to contact or seek the guidance or intervention of any such
agency.

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<PAGE>

         16. ACKNOWLEDGMENT BY EMPLOYEE. EMPLOYEE FURTHER STATES THAT EMPLOYEE
HAS CAREFULLY READ THE WITHIN AND FOREGOING "SETTLEMENT AND CONSULTING
AGREEMENT" AND THE "FULL AND FINAL GENERAL RELEASE" EXECUTED SIMULTANEOUSLY
HEREWITH, THAT EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE HAS BEEN ADVISED BY HARSCO TO
CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS "SETTLEMENT AND CONSULTING
AGREEMENT" AND THE "FULL AND FINAL GENERAL RELEASE," THAT EMPLOYEE KNOWS AND
UNDERSTANDS THE CONTENTS THEREOF AND THAT EMPLOYEE EXECUTES THE SAME AS
EMPLOYEE'S OWN FREE ACT AND DEED. EMPLOYEE FURTHER REPRESENTS AND AGREES THAT
EMPLOYEE FULLY UNDERSTANDS THE TERMS, CONDITIONS, AND FINAL AND BINDING EFFECT
OF THIS AGREEMENT AND THE FULL AND FINAL GENERAL RELEASE ATTACHED HERETO TO BE A
FULL AND FINAL RELEASE OF ALL CLAIMS WITH FINAL AND BINDING EFFECT. EMPLOYEE
ACKNOWLEDGES THAT EMPLOYEE HAS BEEN GIVEN A PERIOD OF AT LEAST TWENTY-ONE (21)
DAYS WITHIN WHICH TO CONSIDER THIS AGREEMENT PRIOR TO EMPLOYEE'S EXECUTION
THEREOF. FURTHERMORE, IT IS AGREED THAT EMPLOYEE SHALL HAVE THE RIGHT TO REVOKE
THIS AGREEMENT BY WRITTEN NOTICE TO HARSCO WITHIN THE SEVEN (7) DAY PERIOD
FOLLOWING ITS EXECUTION, AND THAT THIS AGREEMENT SHALL NOT BECOME EFFECTIVE OR
ENFORCEABLE UNTIL SUCH SEVEN-DAY PERIOD HAS EXPIRED. IN THE EVENT THIS AGREEMENT
IS REVOKED BY EMPLOYEE IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION, OR IN
THE EVENT THAT EMPLOYEE CHALLENGES THE VALIDITY OF ANY OF THE PROVISIONS HEREOF
(INCLUDING THE WAIVER OF CLAIMS) OR THE FULL AND FINAL GENERAL RELEASE ATTACHED
HERETO, EMPLOYEE AGREES TO RETURN TO HARSCO ALL CONSIDERATIONS AND BENEFITS
PROVIDED BY HARSCO TO WHICH EMPLOYEE WOULD NOT BE ENTITLED ABSENT THIS
AGREEMENT.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first set forth above.

                          HARSCO CORPORATION

                          By: /s/ Derek C. Hathaway
                              -----------------------------

                          Title: Chairman, President and Chief Executive Officer
                                 -----------------------------------------------

                              /s/ Paul C. Coppock
                              -----------------------------
                              Paul C. Coppock

                                        6
<PAGE>
                                                                       EXHIBIT A
                                                                       ---------

                         FULL AND FINAL GENERAL RELEASE
                         ------------------------------

         FOR AND IN CONSIDERATION of the SUM OF ONE DOLLAR AND OTHER VALUABLE
CONSIDERATION provided for under the Settlement And Consulting Agreement dated
contemporaneously herewith and incorporated by reference herein (the
"Agreement"), the receipt and sufficiency of which is hereby acknowledged, Paul
C. Coppock (hereinafter "Employee") for Employee, Employee's attorneys,
Employee's heirs, executors, administrators, successors, and assigns, does
hereby fully, finally and forever release and discharge Harsco Corporation, and
its past and present parents, subsidiaries and divisions, its related or
affiliated companies, their predecessors, successors, assigns past and present,
and partners, officers, directors, agents, representatives, attorneys, employees
or trustees of any or all of the aforesaid entities (hereinafter collectively
referred to as "Harsco"), of and from all claims, demands, actions, causes of
action, suits, damages, losses, expenses, and controversies of any and every
nature whatsoever arising from the beginning of time until the date of this
Release, including without limitation those claims arising from or relating in
any way to Employee's employment and the termination of Employee's employment
with Harsco. Without limitation of the foregoing, Employee specifically releases
Harsco from any claims arising under Title VII of the Civil Rights Act of 1964,
the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the
Americans with Disabilities Act, the Fair Labor Standards Act, the Pennsylvania
Human Relations Act, all as amended, or any other federal, state or local law
which forbids discrimination on the basis of age, sex, sexual orientation, race,
color, national origin, religion or disability, or any other claim at common
law. This Full and Final General Release shall not release either Employee or
Harsco from their respective obligations to each other under the Agreement.

         EMPLOYEE HEREBY ACKNOWLEDGES THAT EMPLOYEE HAS READ THIS FULL AND FINAL
GENERAL RELEASE, UNDERSTANDS IT AND IS KNOWINGLY AND VOLUNTARILY ENTERING INTO
IT.

         IN WITNESS WHEREOF, the undersigned has hereunto set Employee's hand as
of the day and year first set forth above.

Witness:  /s/ Gerald Vinci                     /s/ Paul C. Coppock
         ----------------------------         ---------------------------
                                              Paul C. Coppock

<PAGE>

                              CONSULTING AGREEMENT

         THIS AGREEMENT, dated the 9th day of May, 2003, is by and between
HARSCO CORPORATION (hereinafter referred to as the "Company") and Paul C.
Coppock (hereinafter referred to as "Consultant").

         The parties agree as follows:

         1. CONSULTING SERVICES. Consultant's duties hereunder shall include
advisory assistance services relating to the business of Harsco Corporation,
Consultant's knowledge of the business and functions that he performed while
employed. Consultant's specific duties and the extent of any services required
hereunder shall be determined by the Company and shall be pursuant to a schedule
mutually satisfactory to both Consultant and the Company.

         2. CONSULTING FEES. Consultant agrees to provide consulting services of
up to forty (40) hours per calendar month upon the Company's request. There
shall be no charge to the Company for the first eight (8) hours of Consultant's
services each calendar month. Such hours shall not cumulate month to month. The
Company shall pay Consultant the rate of $125 per hour after the first eight (8)
hours of services per calendar month.

         3. EXPENSES. In addition to the payment of consulting fees pursuant to
Section 2 above, Consultant shall be reimbursed by the Company for reasonable
business travel expenses incurred in connection with the performance of services
hereunder, provided that prior written approval by the Company for such expenses
was obtained, and appropriate receipts are presented to the Company.

         4. TERM AND TERMINATION. The term of this Agreement shall commence on
the date hereof and shall remain in effect for a period of six (6) months.
Notwithstanding the foregoing, this Agreement shall terminate upon the death or
disability of Consultant, and the Company may terminate this Agreement with
"cause" upon written notice to Consultant. As used in this Agreement, the term
"cause" shall include but not be limited to Consultant's unreasonable refusal to
perform the duties reasonably assigned to him under this Agreement. Upon
termination of this Agreement for any reason, Consultant shall be paid for all
consulting fees earned prior to termination.

         5. RELATIONSHIP. In performing his obligations hereunder, Consultant
acknowledges and agrees that he is an independent contractor and not an agent or
employee of the Company. Consultant further acknowledges and agrees that he is
responsible for his own estimated and self-employment taxes, and that he shall
be treated as an independent contractor for all purposes, including but not
limited to federal and state taxation, withholding taxes, unemployment
insurance, and workers' compensation and disability insurance. Consultant
understands that as an independent contractor he is not entitled to participate
in any employee benefit plans or programs of the Company. Consultant agrees to
indemnify, defend and hold harmless the Company from and against any and all

<PAGE>

claims, losses, damages, expenses, suits or actions whatsoever, brought on
account of or in connection with any property damages or personal injuries,
including claims for accidental and wrongful death, which may arise or result
from, on account of or in connection with the operations or work performed by
Consultant hereunder.

         6. DEVELOPMENTS. Consultant agrees that all ideas, inventions, trade
secrets, know how, documents and data ("Developments") developed pursuant to
Consultant's services provided pursuant to this Agreement shall remain and
become the exclusive property of the Company. Consultant agrees to provide all
reasonable assistance to the Company in perfecting and maintaining its rights to
the Developments. The Company shall have the right to use the Developments for
any purpose without any additional compensation to Consultant.

         7. HARSCO CODE OF CONDUCT. A copy of Harsco Corporation's Code of
Conduct dated February, 1999 (the "Code") is attached hereto and incorporated
herein by reference. Consultant acknowledges receipt thereof and expressly
agrees to conform to the requirements set forth in the Code.

         8. GENERAL PROVISIONS. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors, assigns
and legal representatives; provided, however, that this Agreement is personal to
Consultant and neither this Agreement nor Consultant's rights hereunder may be
assigned by him. This Agreement may be amended or modified only by a written
instrument executed by each of the parties hereto. This Agreement sets forth the
entire agreement and understanding of the parties hereto, and supersedes all
prior agreements, arrangements and understandings, written or oral, relating to
the subject matter hereof. This Agreement shall be governed and construed in
accordance with the laws of the Commonwealth of Pennsylvania applicable to
agreements made and to be performed entirely within such Commonwealth.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first set forth above.

                          HARSCO CORPORATION

                          By:  /s/ Derek C. Hathaway
                              ------------------------------------

                          Title: Chairman, President and Chief Executive Officer
                                 -----------------------------------------------

                               /s/ Paul C. Coppock
                              ------------------------------------
                              Paul C. CoppockEXHIBIT 4.2.29
                                                                  --------------

                       NOTE AND WARRANT PURCHASE AGREEMENT
                       -----------------------------------

     This Note and Warrant Purchase Agreement, dated as of April 29, 2003 (the
"Agreement"), is entered into by and among Salon Media Group, Inc., a Delaware
corporation (the "Company"), and each of the undersigned purchasers
(collectively the "Purchasers" and individually a "Purchaser") listed on the
Schedule of Purchasers attached hereto as Exhibit A.

                                     RECITAL

     On the terms and subject to the conditions set forth herein, the Purchasers
are willing to purchase from the Company and the Company is willing to sell to
the Purchasers, Convertible Promissory Notes (individually a "Note", and
collectively, the "Notes") and warrants to purchase common stock (individually,
a "Warrant", and collectively, the "Warrants") to be issued by the Company in
the principal amounts and for the number of shares, respectively, set forth
opposite each Purchaser's name on the Schedule of Purchasers.

                                    AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing, and the representations,
warranties, and conditions set forth below, the parties hereto, intending to be
legally bound, hereby agree as follows:

     1. Notes and Warrants.

     (a) Issuance of Notes and Warrants. In reliance upon the representations,
warranties and covenants of the parties set forth herein, the Company agrees to
issue, sell and deliver to the Purchasers, and the Purchasers agree to purchase
from the Company, the Notes and Warrants. The purchase price for the Notes and
Warrants shall be payable in immediately available funds.

     (b) Terms of the Notes and Warrants. The terms and conditions of the Notes
and Warrants are set forth in the forms of Note and Warrant attached hereto as
Exhibit C and Exhibit D, respectively. Capitalized terms not otherwise defined
herein shall have the meaning set forth in Exhibit C or Exhibit D.

     (c) Delivery. The Company will deliver to each Purchaser a Note and Warrant
to be purchased by such Purchaser against receipt by the Company of the purchase
price for such Note.

     2. Representations and Warranties of the Company. The Company hereby
represents and warrants to the Purchaser that:

     (a) Organization and Standing. The Company is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware
and has all requisite corporate power and authority to carry on its businesses
as now conducted and as proposed to be conducted.

<PAGE>

     (b) Corporate Power. The Company has all requisite corporate power
necessary for the authorization, execution and delivery of this Agreement, and
the Warrants, to sell and issue the Notes hereunder, to carry out and perform
all of its obligations under the terms of this Agreement, and to carry on its
business as presently conducted and as presently proposed to be conducted, and
such other agreements and instruments. Each of the Agreement, the Notes and the
Warrants is a valid and binding obligation of the Company, enforceable in
accordance with its terms, except as the same may be limited by bankruptcy,
insolvency, moratorium, and other laws of general application affecting the
enforcement of creditors' rights.

     (c) Capitalization. As of April 10, 2003, the authorized capital stock of
the Company is Fifty million (50,000,000) shares of Common Stock and Five
million (5,000,000) shares of Preferred Stock, and there are issued and
outstanding (i) 14,155,276 shares of the Common Stock, (ii) 809 shares of Series
A Preferred Stock, (iii) 125 shares of Series B Preferred Stock (iv) warrants to
purchase an aggregate of 11,393,053 shares of Common Stock, (v) options to
purchase an aggregate of 6,142,766 shares of Common Stock granted to employees
pursuant to the Company's 1995 Stock Option Plan, and (vi) an aggregate of
16,125,960 shares of Common Stock reserved for issuance upon conversion of the
Series A Preferred Stock and Series B Preferred Stock. The 16,125,960 shares of
Common Stock reserved for issuance upon conversion of the Series A Preferred
Stock and Series B Preferred Stock may increase according to anti-dilution
provisions to approximately 35,000,000 common shares on an "as converted" basis
should a Series C and D Preferred Round of approximately $4 million close with a
conversion ratio equaling $0.05 per common share. Bridge financing in the gross
amount of $1,214,039 and $700,000 has been received designated for conversion to
Series C Preferred Stock and Series D Preferred Stock, respectively, and may
represent approximately 38 million shares of common stock, on an "as converted"
basis. All such issued and outstanding shares have been duly authorized and
validly issued, are fully paid and nonassessable, and were issued in compliance
with all applicable state and federal laws concerning the issuance of
securities. From the period between April 10, 2003 and the date hereof, the
Company has not issued any shares of capital stock, nor granted any warrants or
options to purchase shares of Common Stock.

     (d) Authorization.
         --------------

     (i) Corporate Action. All corporate action on the part of the Company, its
officers, directors and stockholders necessary for the sale and issuance of the
Notes and the authorization, execution and performance of the Company's
obligations hereunder and under the Warrants has been taken.

     (ii) Valid issuance. The Notes, the Warrants, and any shares of common or
preferred stock issued upon conversion or exercise of the Notes or Warrants (the
"Conversion Securities"), when issued in compliance with the provisions of this
Agreement will be validly issued, fully paid and nonassessable and will be free
of restrictions on transfer other than restrictions under the Warrants and under
applicable federal and state securities laws.

     (e) No Preemptive Rights. No person has any right of first refusal or any
preemptive rights in connection with the issuance of the Notes, the Warrants or
Conversion Securities or any future issuances of securities by the Company.

<PAGE>

     (f) Compliance with Other Instruments. The execution, delivery and
performance of and compliance with this Agreement, the Notes or the Warrants by
the Company, and the issuance and sale of the Conversion Securities, will not
result in any violation of the Certificate of Incorporation or Bylaws of the
Company or in any violation of or default in any material respect under the
terms of any mortgage, indenture, contract, agreement, instrument, judgment or
decree.

     (g) Offering. In reliance on the representations and warranties of the
Purchaser in Section 3 hereof, the offer, sale and issuance of the Notes and the
Warrants in conformity with the terms of this Agreement, the Notes and the
Warrants will not result in a violation of the Securities Act of 1933, as
amended (the "Securities Act"), or any state securities laws, including the
qualification or registration requirements of applicable blue sky laws.

     (h) Company Reports; Disclosure.
         ----------------------------

     (i) Company Reports. For the purposes of this Agreement, the term "Company
Reports" shall mean, collectively, each registration statement, report, proxy
statement or information statement filed with the Securities and Exchange
Commission (the "SEC") since January 1, 1999, in the form (including exhibits,
annexes and any amendments thereto) filed with the SEC. As of their respective
dates, the Company Reports complied in all material respects with the
requirements of the Securities Act and the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and did not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements made therein, in light of the circumstances in
which they were made, not misleading. Nothing has occurred since February 14,
2003 (the date of filing of the Company's Form 10-Q reporting the period ending
December 31, 2002) which would require the filing of any additional report or of
any amendment to any of the Company Reports with the SEC, or which would cause
any of the Company Reports to contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make
the statements made therein, in light of the circumstances in which they were
made, not misleading.

     (ii) Disclosure. No representation or warranty by the Company in this
Agreement, or in any document or certificate furnished or to be furnished to the
Purchaser pursuant hereto or in connection with the transactions contemplated
hereby, when taken together, contains or will contain any untrue statement of a
material fact or omits or will omit to state a material fact necessary to make
the statements made herein and therein, in the light of the circumstances under
which they were made herein and therein, in the light of the circumstances under
which they were made, not misleading. The Company has either filed with the SEC
or fully provided the Purchaser with all the information necessary for the
Purchaser to decide whether to purchase the Note.

     3. Representations and Warranties by the Purchaser. The Purchaser
represents and warrants to the Company as of the time of issuance of the Notes
and Warrants as follows:

     (a) Investment Intent: Authority. This Agreement is made with the Purchaser
in reliance upon such Purchaser's representation to the Company, evidenced by
Purchaser's execution of this Agreement, that Purchaser is acquiring the Note
and Warrant, including the

<PAGE>

Conversion Securities, for investment for such Purchaser's own account, not as
nominee or agent, for investment and not with a view to, or for resale in
connection with, any distribution or public offering thereof within the meaning
of the Securities Act. Purchaser has the full right, power, authority and
capacity to enter into and perform this Agreement and this Agreement will
constitute a valid and binding obligation upon Purchaser, except as the same may
be limited by bankruptcy, insolvency, moratorium, and other laws of general
application affecting the enforcement of creditors' rights.

     (b) Securities Not Registered. The Purchaser understands and acknowledges
that the offering of the Notes, the Warrants and the Conversion Securities
pursuant to this Agreement will not be registered under the Securities Act or
qualified under applicable blue sky laws on the grounds that the offering and
sale of securities contemplated by this Agreement are exempt from registration
under the Securities Act and exempt from qualifications available under
applicable blue sky laws, and that the Company's reliance upon such exemptions
is predicated upon the Purchaser's representations set forth in this Agreement.
The Purchaser acknowledges and understands that the Note, the Warrant and the
Conversion Securities must be held for at least 12 months after Closing and
thereafter indefinitely unless they are registered under the Securities Act and
qualified under applicable blue sky laws or an exemption from such registration
and such qualification is available.

     (c) No Transfer. Purchaser covenants that in no event will it transfer the
Note, the Warrant or the Conversion Securities other than (i) in conjunction
with an effective registration statement for the Securities under the Securities
Act or pursuant to an exemption therefrom, or in compliance with Rule 144
promulgated under the Securities Act, or (ii) to a partner, former partner,
limited partner, member, former member, stockholder or other entity affiliated
with Purchaser or, in the case of a Purchaser who is an individual, to a spouse,
lineal descendant or ancestor, or any trust for any of the foregoing, by
transfer by gift, will or intestate succession; provided that in each of the
foregoing cases the transferee agrees in writing to be subject to the terms of
this Agreement to the same extent as if the transferee were the original
Purchaser hereunder.

     (d) Knowledge and Experience. Purchaser (i) has such knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of Purchaser's prospective investment in the Note, the Warrant
and the Conversion Securities; (ii) has the ability to bear the economic risks
of Purchaser's prospective investment; (iii) has had access to such information
as Purchaser has considered necessary to make a determination to purchase the
Note, the Warrant and the Conversion Securities together with such additional
information as is necessary to verify the accuracy of the information supplied;
and (iv) has not been offered the Note, the Warrant or the Conversion Securities
by any form of advertisement, article, notice or other communication published
in any newspaper, magazine, or similar media or broadcast over television or
radio, or any seminar or meeting whose attendees have been invited by any such
media.

     (e) Accredited Investor. Purchaser is an "accredited investor" as that term
is defined in Rule 501(a) under the Securities Act.

<PAGE>

     (f) Legends. Each certificate representing the Notes, the Warrants and the
Conversion Securities may be endorsed with the following legends:

     (i) Federal Legend. THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") AND ARE
"RESTRICTED SECURITIES" AS DEFINED IN RULE 144 PROMULGATED UNDER THE ACT. THE
SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE OR OTHERWISE DISTRIBUTED EXCEPT
(i) IN CONJUNCTION WITH AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER
THE ACT OR (ii) IN COMPLIANCE WITH RULE 144, OR (iii) PURSUANT TO AN OPINION OF
COUNSEL, THAT SUCH REGISTRATION OR COMPLIANCE IS NOT REQUIRED AS TO SAID SALE,
OFFER OR DISTRIBUTION.

     (ii) Other Legends. Any other legends required by applicable state blue sky
laws. The Company need not register a transfer of any legended Note, Warrant or
Conversion Securities, and may also instruct its transfer agent not to register
the transfer of the Notes, Warrants or Conversion Securities, unless the
conditions specified in each of the foregoing legends are satisfied.

     (g) Removal of Legend and Transfer Restrictions. Any legend endorsed on a
certificate pursuant to subsection 3(f) and the stop transfer instructions with
respect to such legend shall be removed, and the Company shall issue a
certificate without such legend to the holder of such Note, Warrant or
Conversion Securities if such Note, Warrant or Conversion Securities are
registered under the Securities Act and a prospectus meeting the requirements of
Section 10 of the Securities Act is available or if such holder satisfies the
requirements of Rule 144(k).

     4. Security Interest. The Company hereby grants to the Purchasers a
security interest in all of the Company's right, title and interest in presently
existing and hereafter acquired assets (the "Collateral"), as more fully
described in Exhibit B attached hereto, of the Company to secure the payment of
indebtedness under the Note. The Company agrees to prepare and file any UCC
financing statements and other documentation as may be necessary, and to take
such reasonable actions as may be requested by Purchasers, to perfect
Purchasers' security interest. Pre-existing apparently perfected security
interests, as further described in Exhibit E attached hereto, may be in
existence and may be senior in interest to the security interest granted to
Purchasers hereby. The security interest evidenced by the Note is junior certain
liens arising under or related to the Note and Warrant Purchase Agreement, dated
as of various dates among Salon Media Group, Inc. and the Purchasers identified
therein.

     5. Subordination. The indebtedness evidenced by the Notes ("Subordinated
Indebtedness") is hereby expressly subordinated, to the extent and in the manner
hereinafter set forth, in right of payment to the prior payment in full of all
of the Company's Senior Indebtedness (as defined below).

     (a) Definition of Senior Indebtedness. "Senior Indebtedness" shall mean the
principal of (and premium, if any), unpaid interest on and amounts reimbursed,
fees, expenses, costs of enforcement and other amounts due in connection with
any indebtedness of the

<PAGE>

Company to a commercial bank lender Silicon Valley Bank ("Bank"), which may be
incurred from time to time pursuant to an agreement between the Company and
Bank, which credit facility shall not exceed $1,000,000 ("Senior Indebtedness").

     (b) Payment and Remedies Blockage. Other than payouts made by the Company
so as to avoid issuing fractional shares upon conversion of the Notes, Purchaser
will not demand or receive from Company (and Company will not pay to Purchaser)
all or any part of the Subordinated Indebtedness by way of payment, prepayment,
setoff, lawsuit or otherwise, nor will Purchaser exercise any remedy with
respect to the Collateral, nor will Purchaser commence, or cause to commence,
prosecute or participate in any administrative, legal or equitable action
against the Company for so long as any portion of the Senior Indebtedness
remains outstanding. Notwithstanding the foregoing, (i) Purchaser may accept,
and the Company may pay, regularly scheduled interest payments in accordance
with the terms of the Notes provided an Event of Default does not exist under
any document executed in connection with the Senior Indebtedness or would exist
after giving effect to such payment, (ii) in the event that the stockholders of
the Company have not approved the Notes and Warrants, the Company shall repay
any and all Senior Indebtedness then outstanding so as to allow the Company to
pay the Purchasers any and all amounts of principal and accrued interest owing
under the Notes, and (iii) nothing in this Section 5 shall prevent or otherwise
restrict Purchaser from converting the Note into equity securities in accordance
with its terms.

     (c) Lien Subordination. The security interest granted in this Agreement is
subordinate to the security interest that Bank or its successor or assignee may
hold from time to time in the Collateral. Notwithstanding the respective dates
of attachment or perfection of the security interest of Purchaser and the
security interest of Bank, the security interest of Bank shall at all time be
prior to the security interest of Purchaser.

     (d) Bankruptcy, Insolvency. If there shall occur any receivership,
insolvency, assignment for the benefit of creditors, bankruptcy, reorganization,
or arrangements with creditors (whether or not pursuant to bankruptcy or other
insolvency laws), sale of all or substantially all of the assets, dissolution,
liquidation, or any other marshaling of the assets and liabilities of the
Company, no amount shall be paid by the Company in respect of the principal of,
interest on or other amounts due with respect to this Note at the time
outstanding, unless and until the principal of and interest on the Senior
Indebtedness then outstanding shall be paid in full.

     (e) Subrogation. Subject to the payment in full of all Senior Indebtedness,
the holder of the Notes shall be subrogated to the rights of the holder(s) of
such Senior Indebtedness (to the extent of the payments or distributions made to
the holder(s) of such Senior Indebtedness pursuant to the provisions of this
Section 5) to receive payments and distributions of assets of the Company
applicable to the Senior Indebtedness. No such payments or distributions
applicable to the Senior Indebtedness shall, as between the Company and its
creditors, other than the holders of Senior Indebtedness and the Purchaser, be
deemed to be a payment by the Company to or on account of the Notes; and for
purposes of such subrogation, no payments or distributions to the holders of
Senior Indebtedness to which the Purchaser would be entitled except for the
provisions of this Section 5 shall, as between the Company and its creditors,
other

<PAGE>

than the holders of Senior Indebtedness and the Purchasers, be deemed to be a
payment by the Company to or on account of the Senior Indebtedness.

     (f) No Impairment. Nothing contained in this Section 5 shall impair, as
between the Company and Purchasers, the obligation of Company, subject to the
terms and conditions hereof, to pay to the Purchaser the principal hereof and
interest hereon as and when the same become due and payable, or shall prevent
the Purchasers of the Notes, upon default hereunder, from exercising all rights,
powers and remedies otherwise provided herein or by applicable law.

     (g) Reliance of Purchasers of Senior Indebtedness. Purchaser, by its
acceptance hereof, shall be deemed to acknowledge and agree that the foregoing
subordination provisions are, and are intended to be, an inducement to and a
consideration of each holder of Senior Indebtedness, whether such Senior
Indebtedness was created or acquired before or after the creation of the
indebtedness evidenced by this Note, and each such holder of Senior Indebtedness
shall be deemed conclusively to have relied on such subordination provisions in
acquiring and holding, or in continuing to hold, such Senior Indebtedness. No
amendment of this Agreement, the Notes or any other agreements relating to the
Subordinated Indebtedness shall modify the provision of this Section 5 in a way
that could reasonably be expected to impair the subordination of the security
interest or lien that Purchaser may have in the Collateral or the subordination
of any payment rights under the Subordinated Indebtedness. At any time and from
time to time, without notice to Purchaser, Bank may take such actions with
respect to the Senior Indebtedness as Bank, in its sole discretion, may deem
appropriate, including without limitation terminating advances to the Company,
increasing the principal amount up to $1,000,000, extending the time of payment,
increasing applicable interest rates, compromising or otherwise amending the
terms of any documents affecting the Senior Indebtedness, and enforcing or
failing to enforce any rights against the Company or any other person.

     6. Miscellaneous.
        --------------

     (a) Waivers and Amendments. Any provision of this Agreement other than the
principal amount of the Notes and the number of shares subject to the Warrants
may be amended, waived or modified upon the written consent of the Company and
the Purchasers providing a majority of the aggregate principal amounts provided
pursuant to this Agreement.

     (b) Governing Law. This Agreement shall be governed in all respects by the
laws of the State of Delaware.

     (c) Entire Agreement. This Agreement together with the Notes and Warrants
constitutes the full and entire understanding and agreement between the parties
with regard to the subjects hereof and thereof.

     (d) Notices. Any notice, request or other communication required or
permitted hereunder shall be in writing and shall be duly given upon receipt if
personally delivered or mailed by registered or certified mail, postage prepaid,
or by recognized overnight courier or personal delivery, addressed (i) if to a
Purchaser, at the address or facsimile number of such Purchaser set forth below
such party's name on Exhibit A, or at such other address or

<PAGE>

number as such Purchaser shall have furnished to the Company in writing, or (ii)
if to Company, at 22 Fourth Street, 16th Floor, San Francisco, CA 94103,
Attention: Chief Financial Officer or at such other address as Company shall
furnish to the Purchaser in writing.

     (e) Validity. If any provision of this Agreement, the Notes or the Warrants
shall be judicially determined to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     (f) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall be deemed to constitute one instrument.

<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed and delivered by their proper and duly authorized officers as of the
date and year first written above.

                                                 COMPANY:

                                                 SALON MEDIA GROUP, INC.
                                                 a Delaware corporation

                                                 By:
                                                    ----------------------------
                                                 Name: Michael O'Donnell

                                                 Title: President / CEO

PURCHASER:

[ ]

By:_________________________

EXHIBIT A

                             SCHEDULE OF PURCHASERS

-------------------------------------------------------------- --------------
Ironstone Group, Inc., a Delaware corporation                     $100,000
-------------------------------------------------------------- --------------
John Warnock                                                      $100,000
-------------------------------------------------------------- --------------

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