Document:

Change Order No. 3 to Agreement

 Exhibit 10.1 
  
 AGREEMENT FOR GUARANTEE MAXIMUM PRICE 
 CONSTRUCTION SERVICES 
  
 CHANGE ORDER 
  
 31 March 2004 

 

			
	 Project: Wynn Las Vegas (Le Rêve)
	 	Change Order No.: 3
		
	 “Contractor”:
 MARNELL CORRAO ASSOCIATES, INC.
 4495 South Polaris Avenue
 Las Vegas, Nevada 89103
	 	 “Owner”:
 WYNN LAS VEGAS,
LLC
 3145 Las Vegas Boulevard So.
 Las Vegas, Nevada
89109

  
 That certain
Agreement for Guaranteed Maximum Price Construction Services between Owner and Contractor for Le Rêve dated as of June 4, 2002 (“Contract”) is hereby modified as follows: 
  

	1.	SCOPE OF WORK 

  
 The Scope of Work is changed as follows: 
  

	 	A.	Motorized Drapery and Lighting Control Additions 

  

	 	(i)	Description.    MCA shall provide all additional work necessary to incorporate motorized draperies into the Typical Guestrooms as well as improvements to
the drapery and lighting controls in the Suite Guestrooms. All work shall be completed in accordance with WDD change directive dated 9/10/03, JBA design sketches dated 8/28/03 and Butler Ashworth Notice of Clarification dated 9/17/03, 9/18/03 and
9/23/03 respectively. 

  

	 	(ii)	Increase to Guaranteed Maximum Price.    Total increase per MCA Change Order Proposal No. 12 dated 11 December 2003 as modified and accepted by WDD 22
March 2004, $1,832,865. 

  

	 	B.	Typical Guestroom Wallcovering 

  

	 	(i)	Description.    Install Owner furnished vinyl wallcovering in all Typical and Suite attachable Guestrooms in lieu of the previously specified paint
finish. Installation shall conform to the requirements of the Typical Model Room located in the Palm Tower. 

  

	 	(ii)	Increase to Guaranteed Maximum Price.    Total increase per MCA Change Order Proposal No. 11 dated 28 October 2003, $589,042. 

	 	C.	Hors d’ Oeuvre Kitchen 

  

	 	(i)	Description.    Convert Pantry # 13 located in the Convention support area into a hors d’ oeuvre kitchen and Storage Rooms 2 and 3 into chilled
preparation rooms to support revised banquet catering program request from Wynn Las Vegas Operations. 

  

	 	(ii)	Increase to Guaranteed Maximum Price. Total increase per WDD Change Directive dated 13 November 2003, $517,360. 

  

	 	D.	Theatrical Infrastructure and Electrical for Lake Lighting 

  

	 	(i)	Description.    Provide all pathway conduits, wire and terminations for Theatrical systems and installation of Owner Furnished Fixtures for Lake Lighting
system. 

  

	 	(ii)	Increase to Guaranteed Maximum Price.    Total increase per MCA Change Order Proposal No.
                 dated 31 March 2004, $3,700,000. 

  

	 	E.	Additional Contractor’s Fee 

  

	 	(i)	Description.    Pursuant to section 18.5.2 of the Contract, Contractor is entitled to an additional Contractor’s Fee equal to 3% of any Change to the
Cost of the Work that is in excess of $931,883,710. 

  

	 	(ii)	Increase to Guaranteed Maximum Price.    Total increase in Contractor’s Fee as detailed below $86,384. 

  

				
	 Current Contract Amount thru CO#2
	  	$	982,123,905
	 Change Order #3 Cost
	  	$	6,639,267
	 Subtotal
	  	$	934,763,172
	 Less Fee Increase Limit
	  	$	931,883,710
	 Cost Basis for Fee
	  	$	2,879,462
	 Additional Fee @ 3%
	  	$	86,384
	 Total Scope of Work Change Order No. 3 amount
	  	$	6,725,651
	 	  	
	

  

 2 

	2.	INCREASE TO GUARANTEED MAXIMUM PRICE. 

  
 The Guaranteed Maximum Price set forth in Section 3.1 of the Contract is by this Change Order hereby increased from $928,123,905.00 to
$934,849,556.00, based on the Changes described in Paragraph 1 above. The detailed breakdown of the foregoing increase is contained in the Revised Contractors Work and Guaranteed Maximum Price Breakdown labeled as Revised Exhibit F and
dated 31 March 2004, and attached to this Change Order. Accordingly, the original Guaranteed Maximum Price Breakdown attached as Exhibit F to the Contract is hereby deleted and substituted therefore is the Revised Contractors Work and
Guaranteed Maximum Price Breakdown attached hereto. From and after the date of this Change Order, all references in the Contract Documents to the “Guaranteed Maximum Price Breakdown” attached as Exhibit F to the Contract, shall mean
and refer to the Revised Contractors Work and Guaranteed Maximum Price Breakdown attached hereto as Revised Exhibit F. From and after the date of this Change Order, any and all references in the Contract Documents to the “Guaranteed
Maximum Price” shall mean the amount of $934,849,556.00. 
  

	3.	PROJECT SCHEDULE 

  
 The current Project Schedule dated 31 August, 2003 and attached as Exhibit B to the Contract shall remain unchanged. The Contract Time of 910 calendar
days from Date of Commencement, and the Guaranteed Date of Substantial Completion, as defined in Section 4.1 of the Contract, remain unchanged by this Change Order. 
  
 All initial capitalized terms used in this Change Order shall have the meaning ascribed to them in the Contract, unless
otherwise defined herein. This Change Order is effective as of 31 March, 2004. 
  

									
	 OWNER:
	 	 	 	 CONTRACTOR:

			
	 WYNN LAS VEGAS, LLC, a Nevada limited liability company,
	 	 	 	 MARNELL CORRAO ASSOCIATES, INC., a Nevada corporation

					
	By:	 	/s/    TODD NISBET        	 	 	 	By:	 	/s/    PERRY EIMAN        
	 	 	
	 	 	 	 	 	

	 Name:
	 	Todd Nisbet	 	 	 	 Name:
	 	Perry Eiman
	 Title:
	 	Assistant Secretary	 	 	 	 Its:
	 	President

  

			
	ARCHITECT:
	
	BUTLER/ASHWORTH ARCHITECTS, LLC
		
	By:	 	/s/    GLEN ASHWORTH        
	 	 	

	 Name:
	 	Glen Ashworth
	 Its:
	 	Vice President and Secretary

  

 3Form of Warrant to Purchase Class A Common Stock of PRN Corporation, as amended

 Exhibit 4.2 
  

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. AS AMENDED, NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR
TRANSFERRED UNLESS (i) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT OF 1933. AS AMENDED. AND ANY APPLICABLE STATE SECURITIES LAW REQUIREMENTS HAVE BEEN MET OR (ii) EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE REGISTRATION OR QUALIFICATION REQUIREMENTS OF APPLICABLE STATE SECURITIES LAW ARE AVAILABLE. 
  
 Void after [Date] 
  
 PRN CORPORATION 
  
 WARRANT TO PURCHASE CLASS A COMMON STOCK 
  
 This warrant (“Warrant”) certifies that, for value received, [Name of Warrant Holder] or its registered assigns (the
“Holder”) has the right to purchase, at any time on or before the Expiration Date (hereinafter defined) an aggregate of [Warrant Amount] shares (the “Shares”) of Class A Common Stock (the “Common
Stock”) of PRN Corporation, a Delaware corporation (the “Company”), at an exercise price per Share determined as hereafter provided (the “Per Share Exercise Price,”), subject to the provisions and upon the
terms and conditions hereinafter set forth. 
  
 1. Exercise and
Payment. 
  
 1.1 Exercise. The
purchase rights represented by this Warrant may be exercised at any time after August 13, 2001 by the Holder, in whole or in part, by the surrender of a duly executed exercise notice in the form attached hereto as Exhibit A at the principal office
of the Company, and by the payment to the Company, by check or wire transfer of an amount equal to the aggregate Per Share Exercise Price of the Shares being purchased. 
  
 1.2 Net Exercise Election. In lieu of exercising this Warrant by payment of cash, the Holder may
elect to receive, without the payment by the Holder of any additional consideration, a number of Shares (rounded down to the nearest whole share) equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such
portion to the Company (the “Net Exercise”), with the net issue election duly selected and initialed in the Notice of Exercise delivered to the Company as provided above. Thereupon the Company will issue to the Holder such number of Shares
as is computed using the following formula: 
  
 X = Y (A-B)

             A 
  

			
		
	where X =	  	the number of Shares to be issued to the Holder upon the Net Exercise pursuant to this Section;
		
	Y =	  	the number of Shares exercised under this Warrant for which the net issue election is made pursuant to this Section (upon such Net Exercise, the number of shares subject to further exercise
under this Warrant shall be reduced by this number);

  

 1 

			
		
	A=	  	the Market Price (as defined below) of one of the Company’s Shares on the date the Net Exercise election is made pursuant to this Section. and
		
	B=	  	the Per Share Exercise Price in effect under this Warrant

  
 For purposes of this
Section 1 .2, “Market Price” means, as to a Share, (i) the average of the closing prices of sales on all domestic securities exchanges on which the Shares may at the time be listed, or (ii) if there have been no sales on any such
exchange on such day, the average of the highest bid and lowest asked prices on all such exchanges at the end of such day, or (iii) if on such day the Shares are not so listed, the average of the representative bid and asked prices quoted in the
Nasdaq National Market as of 4:00 P.M New York time, on such day, or (iv) if on any day the Shares are not quoted in the Nasdaq National Market, the average of the highest bid and lowest asked prices on such day in the domestic over-the-counter
market as reported by the National Quotation Bureau, Incorporated, or any similar successor organization, in each such case averaged over the period of twenty (20) trading days ending two (2) days preceding the date of the net issue election or
other exercise is made pursuant to this. Section 1.2. If at any time the Shares are not listed on any domestic securities exchange or quoted in the Nasdaq National Market or the domestic over-the counter market, the “Market Price” shall be
the fair value thereof determined by the Board of Directors of the Company in good faith upon the request of the Holder (it being understood that if the Holder is not satisfied with such determination the sole recourse of the Holder is to exercise
the Warrant for cash or not to exercise the Warrant). 
  
 1.3 Stock Certificate. In the event of the exercise of this Warrant, the Company shall deliver to the Holder promptly following such exercise a certificate for the Shares so purchased. 
  
 1.4 Restated Investor Rights Agreement. The Common
Stock issuable upon exercise of this Warrant is convertible is entitled to the registration rights and subject to the restrictions on transfer set forth in that certain Restated Investor Rights Agreement, dated as of August 14, 2001 between the
Company and the original Holder of this Warrant (the “Investor Rights Agreement”). 
  
 2. Per Share Exercise Price. 
  
 2.1 Initial Per Share Exercise Price. The Per Share Exercise Price shall initially be $0.01 per Share and shall be subject to adjustment as specified in Section 3. 
  
 3. Adjustment of Exercise Price and Number of Shares. The number and
kind of securities purchasable upon the exercise of this Warrant and the Per Share Exercise Price therefor shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
  
 3.1 Reclassification, Consolidation or Merger. In
case of any reclassification or change of the Common Stock (other than a change in par value, or as a result of an event referred to in Section 3.2), or in case of any Merger Event (as defined herein), the Company or the successor corporation, as
the case may be, shall execute a new warrant, providing that the Holder shall have the right to exercise such new warrant, and procure upon such exercise and payment of the same aggregate Per Share Exercise Price, in lieu of the shares of Common
Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property which such Holder would have owned or been entitled to receive had such Warrant been exercised in full immediately
prior to such reclassification, change, or Merger Event. Such new warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 3. 

 3.2 Stock Splits, Dividends and Combinations. In the event that the Company shall
at any time subdivide the outstanding shares of Common Stock, or shall issue a stock dividend on its outstanding shares of Common Stock, the number of Shares issuable upon exercise of this Warrant immediately prior to such subdivision or to the
issuance of such stock dividend shall be proportionately increased and the Per Share Exercise Price shall be proportionately decreased so that the Holder of the Warrant after such time shall be entitled to receive the number of shares of Common
Stock which such the Holder would have owned or been entitled to receive had such Warrant been exercised immediately prior to such event, and in the event that the Company shall at any time combine the outstanding shares of Common Stock, the number
of Shares issuable upon exercise of this Warrant immediately prior to such combination shall be proportionately decreased, and the Per Share Exercise Price shall be proportionately increased so that the Holder of the Warrant after such time shall be
entitled to receive the number of shares of Common Stock which such the Holder would have owned or been entitled to receive had such Warrant been exercised prior to such event, in either case effective at the close of business on the date of such
subdivision, stock dividend or combination, as the case may be. 
  
 4. Stock Fully Paid: Reservation of Shares. All of the Shares issuable upon the exercise of this Warrant will, upon issuance and receipt of the Exercise Price therefor, be fully paid and nonassessable. During the period within which
this Warrant may be exercised, the Company shall at all times have authorized and reserved for issuance sufficient shares of its Common Stock to provide for the exercise of this Warrant. 
  
 5. Notice of Adjustments. In the event that: (i) the Company shall declare any dividend or distribution upon shares
of its capital stock, whether in cash, property, stock or other securities; (ii) the Company shall offer for subscription pro rata to the holders of its Common Stock any additional shares of stock of any class or other rights; (iii) there shall be
any merger or consolidation of the Company, with or into a third party pursuant to which the Company’s stockholders prior to the transaction own less than fifty percent (50%) of the surviving entity or the sale of all or substantially all of
the assets of the Company (a “Merger Event”); or (iv) there shall be any voluntary or involuntary dissolution, liquidation or winding up of the Company; then, in connection with each such event, the Company shall send to the Holder:

  
 (a) At least fifteen (15) days prior written
notice of the date on which the books of the Company shall close or a record shall be taken for such dividend, distribution, subscription rights (specifying the date on which the Holders of capital stock shall be entitled thereto) or for determining
rights to vote in respect of such Merger Event, dissolution, liquidation or winding up; and 
  
 (b) In the case of any such Merger Event, dissolution, liquidation or winding up, at least fifteen (15) days prior written notice of the
date when the same shall take place (and specifying the date on which the Holders of capital stock shall be entitled to exchange their capital stock for securities or other property deliverable upon such Merger Event, dissolution, liquidation or
winding up). 
  
 Each such written notice shall set forth,, in
reasonable detail, (i) the event requiring the adjustment, (ii) the amount of the adjustment, (iii) the method by which such adjustment was calculated, (iv) the Per Share Exercise Price, and (v) the number of shares subject to purchase hereunder
after giving effect to such adjustment, and shall be given by first class mail, postage prepaid, addressed to the Holder, at the address as shown on the books of the Company. 
  
 6. Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder.
In lieu of such fractional shares the Company shall make a cash payment therefor based upon the fair market value per share on the date of exercise, as determined by the Board of Directors of the Company in good faith. 

 7. Representations and Warranties of the Holder. The Holder hereby represents and warrants to the
Company, with respect to its acquisition of the Warrant, as follows: 
  
 7.1 Experience. The Holder has sufficient knowledge and experience in financial and business matters such that the Holder is capable of evaluating the merits and risks of its investment in the Company and has
the capacity to protect its own interests. 
  
 7.2 Investment. The Holder is acquiring the Warrant and the Shares for investment for its own account, not as a nominee or agent, and not with the view to, or for resale in-connection with, any distribution thereof. The Holder
understands that the Warrant and the Shares have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Act”) by reason of a specific exemption from the registration provisions of the Act, the availability
of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of such Holder’s representations as expressed herein. 
  
 7.3 Rule 144. The Holder acknowledges that the Warrant and the Shares must be held indefinitely
unless subsequently registered under the Act or unless an exemption from such registration is available. The Holder is aware of the provisions of Rule 144 promulgated under the Act which permit limited resale of shares purchased in a private
placement subject to the satisfaction of certain conditions, including, among other things, the existence of a public market for the shares, the availability of certain current public information about the Company, the resale occurring not less than
one (1) year after a party has purchased and paid for the security to be sold, the sale being effected through a “broker’s transaction” or in transactions directly with a “market maker” and the number of shares being sold
during any three-month period not exceeding specified limitations. 
  
 7.4 No Public Market. The Holder understands that no public market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for
the Company’s securities. 
  
 7.5 No
Solicitation. The Holder knows of no public solicitation or advertisement of an offer in connection with the proposed issuance and sale of the Warrant or the Shares. 
  
 8. Restrictions on Transfer. 
  
 8.1 Restrictive Legend. Each certificate representing (i) the Common Stock, and (ii) any other
securities issued in respect of such Common Stock upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event, (collectively, the “Restricted Securities”) shall (unless otherwise permitted by the
provisions of Section 8.2 below) be stamped or otherwise imprinted with a legend in substantially the following form (in addition to any legend required under applicable state securities laws): 
  
 THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT
AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. THESE SHARES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT. 
  
 8.2 Notice of Proposed Transfers. The Holder of each certificate representing Restricted Securities
by acceptance thereof agrees to comply in all respects with the provisions of this Section 8. Prior to any proposed transfer of any Restricted Securities, unless there is in effect a registration statement under 

 the Act covering the proposed transfer, the Holder thereof shall give written notice to the Company of
such holder’s intention to effect such transfer. Each such notice shall describe the manner and circumstances of the proposed transfer in sufficient detail, and shall, if the Company reasonably requests, be accompanied by a written opinion of
legal counsel who shall be reasonably satisfactory to the Company, addressed to the Company and reasonably satisfactory in form and substance to the Company’s counsel, to the effect that the proposed transfer of the Restricted Securities may be
effected without registration under the Act: provided, however, that no opinion need be obtained with respect to a transfer (i) by a Holder that is an entire to am affiliated partnerships, limited liability companies and other entities, as well as
the current or former constituent partners or members of affiliated entities, or to the estate of any such current or former partner or member, (ii) by gift, will or intestate succession by any such current or former partner or member or affiliate,
or by any other individual, or (iii) by any such current or former partner or member or affiliate, or any other individual, to his or her spouse, ancestors, lineal descendants and siblings as well as trusts for the benefit of the individual and such
other foregoing persons, provided that in any such case the transferee agrees in writing to be subject to the terms hereof. Each certificate evidencing the Restricted Securities transferred as above provided shall bear the appropriate restrictive
legend set forth in Section 8.1 above, except that such certificate shall not bear such restrictive legend if in the opinion of counsel for the Company such legend is not required in order to establish compliance with any provisions of the Act.

  
 9. Rights of Holders. No Holder of this Warrant shall
be entitled by virtue of this Warrant to vote or receive dividends or be deemed the Holder of Common Stock or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained
herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold
consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or
subscription rights or otherwise until the Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein; provided, however, that this Warrant shall not limit any other voting
rights or notice rights of the Holder of this Warrant expressly granted under the Corporation’s Certificate of Incorporation or under other instrument or agreement pursuant to which the Holder is a party or has been duly assigned such rights.

  
 10. Expiration of Warrant. Notwithstanding any other
provision of this Warrant, this Warrant shall expire and shall no longer be exercisable on 5:00 p.m., California time, on August 14, 2011 (the “Expiration Date”). 
  
 11. Miscellaneous. 
  
 11.1 Governing Law. This Agreement shall be governed as to matters of corporate law by the Delaware General Corporate Law and, as
to matters other than corporate law, by the laws of the State of California, in each case as such laws apply to contracts entered into and wholly to be performed within such State by residents thereof. 
  
 11.2 Successors and Assigns. Except as otherwise
provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the Company and the Holder. This Warrant and the Shares issued on exercise hereof are freely
assignable by the Holder hereof. 
  
 11.3
Entire Agreement: Amendment. This Warrant, together with the Series E Preferred Stock and Warrant Purchase Agreement dated as of August 14, 2001 (the “Purchase Agreement”) between the Company and the original Holder of this
Note and the Restated Investor Rights Agreement, constitutes the 

 11.4 Market Standoff Agreement. The Holder hereby agrees that if so requested by
the Company or any representative of the underwriters in connection with the initial underwritten public offering, of any securities of the Company under the Act, the Holder shall not sell or otherwise transfer any shares represented by this Warrant
or other securities of the Company (other than to affiliates thereof that agree to be bound by such restrictions) during the period of time (not to exceed 180 days) following the effective date of the registration statement of the Company filed
under the Act that is agreed to by the Company and such representatives of the underwriters as the lock-up period; provided, however, that the restriction in this Section 11.4 in respect of the sale or transfer by the Holder of shares represented by
this Warrant or other securities of the Company shall be conditioned on the Company exercising commercially reasonable efforts to ensure that each director and officer of the Company and each holder of one percent (1%) or more of am class of the
Company’s securities is subject to restrictions of like terms and duration. The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such period of time. 
  
 11.5 Notices, etc. All notices and other
communications required or permitted hereunder shall be in writing and shall be deemed effectively given upon delivery to the party to be notified in person or by courier service or by registered or certified mail, postage prepaid, addressed (a) to
the Holder, at the address set forth on the last page of this Warrant or at such other address as such Holder shall have furnished the Company in writing, or (b) if to the Company, at the address set forth on the last page of this Warrant and
addressed to the attention of the President, or at such other address as the Company shall have furnished to the Holder. 
  
 Issued this        day of August, 2001 
  

			
	“COMPANY”
	
	PRN Corporation
		
	By:	 	 
	 	 	

	 	 	 Charles Nooney, President

  
 Signature
Page to Common Stock Warrant 
  

 EXHIBIT A 
  

NOTICE OF EXERCISE 
  

	TO:	PRN Corporation 

 201 Third Street, 7th Floor 

San Francisco, CA 94103 
  
 1. The undersigned hereby elects to purchase
                         shares of Common Stock (the “Common Stock”) of PRN Corporation pursuant to the
terms of the attached Warrant. 
  
 2. The undersigned elects to
exercise the attached Warrant and tenders herewith payment in full for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any. The purchase price is being paid by (check one): 
  
                      (i)      check; 
  
                      (ii)     wire transfer, 
  
 3. Net Exercise Election. If applicable, the undersigned elects to purchase the Warrant Shares by Net Exercise (as
defined in the Warrant), by initialing in the following space (please initial only if Net Exercise is chosen): 
  
 4. Please issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name as is
specified below: 
  
 Name:        
                                        
                                        
         
  
 Address:                                     
                                        
                 
  
                                       
                                        
           
  
 5. The undersigned hereby represents and warrants that: 
  
 (a) Experience. The Holder has sufficient knowledge and experience in financial and business matters so that the Holder is capable of evaluating the merits and risks of his investment in the Company and has the
capacity to protect his own interests. 
  
 (b)
Investment. The Holder is acquiring the Shares for investment for its own account, not as a nominee or agent, and not with the view to, or for resale in connection with, any distribution thereof in violation of the Act. The Holder understands that
the Shares have not been, and will not be, registered under the Act by reason of a specific exemption from the registration provisions of the Securities Act of 1933, as amended (the “Act” ), the availability of which depends upon, among
other things, the bona fide nature of the investment intent and the accuracy of such Holder’s representations as expressed herein. 
  

 7 

 (c) Rule 44. The Holder acknowledges that the Shares must be held indefinitely\
unless subsequently registered under the Act or unless an exemption from such registration is available. The Holder is aware of the provisions of Rule 144 promulgated under the Act which permit limited resale of shares purchased in a private
placement subject to the satisfaction of certain conditions, including, among other things, the existence of a public market for the shares, the availability of certain current public information about the Company, the resale occurring not less than
one (1) year after a party has purchased and paid for the security to be sold, the sale being effected through a “broker’s transaction” or in transactions directly with a “market maker” and the number of shares being sold
during any three-month period not exceeding specified limitations. 
  
 (d) No Public Market. The Holder understands that no public market now exists for am of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for
the Company’s securities. 
  
 (e) No
Solicitation. The Holder knows of no public solicitation or advertisement of an offer in connection with the proposed issuance and sale of the Shares. 
  
 (f) Residence. The principal executive offices of the Holder are located in the State of
                            . 
  
 6. Market Standoff Agreement. The Holder hereby agrees that if so requested by the Company or any representative of
the underwriters in connection with the initial underwritten public offering of any securities of the Company under the Act, the Holder shall not sell or otherwise transfer any shares represented by this Warrant or other securities of the Company
(other than to affiliates thereof that agree to be bound by such restrictions) during the period of time (not to exceed 180 days) following the effective date of the registration statement of the Company filed under the Act that is agreed to by the
Company and such representatives of the underwriters as the lock-up period; provided however, that the restriction in this Section 6 in respect of the sale or transfer by the Holder of shares represented by this Warrant or other securities of the
Company shall be conditioned on the Company exercising commercially reasonable efforts to ensure that each director and officer of the Company and each holder of one percent (1%) or more of any class of the Company’s securities is subject to
restrictions of like terms and duration. The Company may impose stop transfer instructions with respect to securities subject to the foregoing restrictions until the end of such period of time. 
  
 Date:
                 200     
  
 By:                                      
                                   
  
 Its:                                      
                                  

 PRN CORPORATION 
  
 AMENDMENT NO. 1 TO WARRANTS TO PURCHASE CLASS A COMMON STOCK 
  
 THIS AMENDMENT NO. 1 (the “Amendment”) to those certain
Warrants to Purchase Class A Common Stock listed on Exhibit A attached hereto (each a “Warrant” and collectively, the “Warrants”) issued pursuant to that certain Series E Preferred Stock and Warrant Purchase Agreement (the
“Purchase Agreement”), dated August 14, 2001, as amended, by and among PRN CORPORATION, a Delaware corporation (the “Company”), and the purchasers listed on the Schedule of Purchasers attached to the Purchase Agreement
(the “Purchasers”) is entered into as of May         , 2004, by and among the Company and the signatories hereto. 
  
 RECITALS 
  
 WHEREAS, concurrent with the execution of this Amendment, the Company and the holders of the Company’s Series E Preferred Stock are entering
into an agreement that modifies certain rights, preferences and privileges of the Company’s Series E Preferred Stock and provides for the issuance to holders of Series E Preferred Stock of new warrants to purchase Common Stock; and 

 
 WHEREAS, in connection with the execution of such agreement and the
issuance of the New Warrants, the parties desire to amend the Warrants as provided herein. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties mutually agree as follows: 
  
 AGREEMENT 
  
 1. Amendment to Form of Warrant and Warrants 
  
 a. Section 11 of the form of Warrant attached to the Purchase Agreement and each Warrant listed on Exhibit A attached hereto
be, and it hereby is, renumbered to Section 12 and any reference to Section 11 shall be deemed to be a reference to Section 12. 
  
 b. The form of Warrant attached to the Purchase Agreement and each Warrant listed on Exhibit A attached hereto be, and they each hereby are, amended and
restated to add a new Section 11 as follows: 
  
 “11.
Early Termination. In the event a Qualified Public Offering (as defined in the Company’s Amended and Restated Certificate of Incorporation with respect to the Series E Preferred Stock) occurs at any time before the Expiration Date, this
Warrant shall be deemed exercised pursuant to Section 1.2 immediately prior to the consummation of the Qualified Public Offering. Notwithstanding the provisions of Section 1.2, for purposes of the Net Exercise of this Warrant in connection with a
Qualified Public Offering, the Market Price as to a Share means the per share offering price to the public in such Qualified Public Offering. The 
  

 1 

 Holder shall remain obligated to deliver to the Company the notice of exercise in the form attached as
Exhibit A (the “Notice”) subsequent to such Net Exercise; provided, however, that this Warrant shall be deemed exercised pursuant to this section irrespective of Holder’s failure to deliver such Notice.” 
  
 2. Miscellaneous. 
  
 a. This Amendment may be signed in one or more counterparts, each of which
shall be deemed an original, and all of which shall constitute one instrument. 
  
 b. Except as expressly modified by this Amendment, all of the terms and conditions of the Purchase Agreement and the Warrants shall remain in full force and effect. 
  
 c. This Amendment shall be construed under Delaware General Corporation Law
as to matters of corporate law and as to all other matters of law shall be governed, and construed under the laws of the State of California as such laws are applied to agreements between California residents entered into and performed entirely in
California. 
  
 [Signature Pages Follow] 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth in
the first paragraph hereof. 
  

			
	COMPANY:
	
	PRN CORPORATION
		
	 By:
	 	  

		
	 Print Name:
	 	  

		
	 Title:
	 	  

  
 AMENDMENT NO. 1 TO WARRANT TO PURCHASE CLASS A COMMON STOCK 
 SIGNATURE PAGE 

  
  

			
	  

 ROBERT ABERBACH

	
	  

 ALAN ENGLANDER

	
	  

 IAN SMITH

	
	 RICHARD K. WEBEL TRUST,
 DATED 4/20/98

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  
 AMENDMENT NO. 1 TO WARRANT TO PURCHASE CLASS A COMMON STOCK 
 SIGNATURE PAGE 

 EXHIBIT A 
  

SCHEDULE OF WARRANTHOLDERS 
  

			
	 NAME

	  	WARRANT SHARES

	 Shamrock Capital Growth Fund, L.P.
	  	514,285
	 GE Capital Equity Investments, Inc.
	  	192,857
	 Allen & Company Incorporated
	  	75,857
	 Stanley Shopkorn
	  	38,571
	 Northwood Capital Partners LLC
	  	9,000
	 SK Partners
	  	9,000
	 Southfield Communications LLC
	  	6,429
	 Richard K. Webel Trust dated 4/20/98
	  	1,286
	 Credit Suisse Warburg Pincus Global Post-Venture Capital Fund
	  	20,366
	 Credit Suisse Warburg Pincus Global Post-Venture Capital Portfolio
	  	18,283
	 Marc Keller
	  	5,143
	 Alan Englander
	  	3,124
	 Robert Aberbach
	  	3,857
	 Ian Smith
	  	1,929
	 Moore Macro Fund, L.P.
	  	192,857

  

 EXHIBIT B 
  
 AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

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