Document:

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                                                                   Exhibit 10.62
                         UNITED STATES BANKRUPTCY COURT
                          EASTERN DISTRICT OF VIRGINIA
                              Alexandria Division

                                       )     Chapter 11 Cases
In re:                                 )
                                       )     Case Nos. 02-80125, 02-80126
MOTIENT CORPORATION,                   )               02-80128 and 02-80129-RGM
et al.,                                )
                                       )
                  Debtors.             )     Jointly Administered

                 DEBTORS' AMENDED JOINT PLAN OF REORGANIZATION
                    UNDER CHAPTER 11 OF THE BANKRUPTCY CODE

McGUIREWOODS LLP
Attorneys for the Debtors,
as Debtors and Debtors in Possession
One James Center
901 East Cary Street
Richmond, Virginia 23219
(804) 775-1000
Dated:   February 27, 2002

                                     Page 1
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                               TABLE OF CONTENTS

<Table>
<Caption>
                                                                            Page
<S>              <C>                                                           <C>
SECTION 1.       DEFINITIONS AND INTERPRETATION................................1
       1.1.       510(c) Claim.................................................1
       1.2.       Administrative Bar Date......................................1
       1.3.       Administrative Expense Claim.................................1
       1.4.       ADR Procedures...............................................1
       1.5.       Allowed......................................................1
       1.6.       Amended Bylaws...............................................2
       1.7.       Amended Certificate of Incorporation.........................2
       1.8.       Avaya Financial Services Capital Equipment Lease.............2
       1.9.       Bankruptcy Code..............................................2
       1.10.      Bankruptcy Court.............................................2
       1.11.      Bankruptcy Rules.............................................2
       1.12.      Bar Date.....................................................2
       1.13.      Bar Date Order...............................................2
       1.14.      Boeing Satellite.............................................2
       1.15.      Boeing Satellite Claim.......................................2
       1.16.      Business Day.................................................2
       1.17.      Case.........................................................3
       1.18.      Cash.........................................................3
       1.19.      Change of Control Agreement..................................3
       1.20.      Chase Securities.............................................3
       1.21.      Chase Securities Claim.......................................3
       1.22.      Claim........................................................3
</Table>

                                     Page 2
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<Table>
       <S>        <C>                                                          <C>
       1.23.      Class........................................................3
       1.24.      Commencement Date............................................3
       1.25.      Communications...............................................3
       1.26.      Compaq Financial Services Capital Equipment Lease............3
       1.27.      Confirmation Date............................................3
       1.28.      Confirmation Hearing.........................................3
       1.29.      Confirmation Order...........................................3
       1.30.      Creditor Plan Securities.....................................3
       1.31.      Creditors' Committee.........................................4
       1.32.      Debtors......................................................4
       1.33.      Disbursing Agent.............................................4
       1.34.      Disclosure Statement.........................................4
       1.35.      Disputed Claim...............................................4
       1.36.      Distribution Record Date.....................................4
       1.37.      Effective Date...............................................4
       1.38.      Employee Incentive Plan......................................4
       1.39.      Employee Incentive Plan Securities...........................4
       1.40.      Equity Interest..............................................4
       1.41.      Estates......................................................4
       1.42.      Existing Securities Law Claims...............................4
       1.43.      Fee Claim....................................................4
       1.44.      Final Order..................................................5
       1.45.      Holdings.....................................................5
       1.46.      Indenture Trustee............................................5
</Table>

                                     Page 3
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<Table>
       <S>        <C>                                                          <C>
       1.47.      Informal Committee...........................................5
       1.48.      Insured Claim................................................5
       1.49.      Interdebtor Claim............................................5
       1.50.      Motient......................................................5
       1.51.      Motorola.....................................................5
       1.52.      Motorola's Secured Claim.....................................5
       1.53.      MSV..........................................................5
       1.54.      New Motient Common Stock.....................................5
       1.55.      Newco........................................................5
       1.56.      Old Motient Equity Plan Securities...........................5
       1.57.      Old Motient Equity Warrant Agreement.........................6
       1.58.      Old Motient Equity Warrants..................................6
       1.59.      Other Secured Claim..........................................6
       1.60.      Other Unsecured Claim........................................6
       1.61.      Person.......................................................6
       1.62.      Plan.........................................................6
       1.63.      Plan Documents...............................................6
       1.64.      Plan of Reorganization.......................................6
       1.65.      Plan Securities..............................................6
       1.66.      Plan Supplement..............................................6
       1.67.      Priority Non-Tax Claim.......................................6
       1.68.      Priority Tax Claim...........................................6
       1.69.      Professional Equity..........................................7
       1.70.      Professional Plan Securities.................................7
</Table>

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<Table>
       <S>        <C>                                                          <C>
       1.71.      Rare Medium..................................................7
       1.72.      Rare Medium Claim............................................7
       1.73.      Registration Rights Agreement................................7
       1.74.      Remaining 2001 Bonus Plan ...................................7
       1.75.      Reorganization Cases.........................................7
       1.76.      Reorganized Company .........................................7
       1.77.      Reorganized Debtors..........................................7
       1.78.      Reorganized Motient..........................................7
       1.79.      Representative...............................................7
       1.80.      Retention Bonuses............................................7
       1.81.      Schedules....................................................7
       1.82.      Secured Claim................................................8
       1.83.      Senior Indebtedness Claims...................................8
       1.84.      Senior Indebtedness Note.....................................8
       1.85.      Senior Note Claim............................................8
       1.86.      Senior Note Distribution.....................................8
       1.87.      Senior Note Indenture........................................8
       1.88.      Senior Notes.................................................8
       1.89.      Services.....................................................8
       1.90.      Subsidiary Debtors...........................................8
       1.91.      Trade Claims.................................................8
       1.92.      Unsecured Claim..............................................8
       1.93.      Ventures.....................................................8
       1.94.      Voting Agent ................................................8
</Table>

                                     Page 5
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<Table>
<S>              <C>                                                          <C>
       1.95.      Voting Classes...............................................8
       1.96.      Voting Procedures Order .....................................8

SECTION 2.       ADMINISTRATIVE EXPENSE CLAIMS, FEE CLAIMS AND PRIORITY TAX C
                 CLAIMS........................................................9
       2.1.       Administrative Expense Claims................................9
       2.2.       Bar Date for Administrative Expense Claims...................9
       2.3.       Fee Claims..................................................10
       2.4.       Priority Tax Claims.........................................10

SECTION 3.       CLASSIFICATION OF CLAIMS AND EQUITY INTERESTS................10
       3.1.       Subclasses for Class 1, Class 6 and Class 8.................11

SECTION 4.       TREATMENT OF CLAIMS AND EQUITY INTERESTS.....................11
       4.1.       Secured Claims (Class 1)....................................11
       4.2.       Priority Non-Tax Claims (Class 2)...........................12
       4.3.       Senior Note Claims (Class 3)................................12
       4.4.       Trade Claims (Class 4)......................................13
       4.5.       Senior Indebtedness Claims (Class 5)........................13
       4.6.       Other Unsecured Claims (Class 6)............................13
       4.7.       Interdebtor Claims (Class 7)................................14
       4.8.       Motient Equity (Class 8)....................................14
       4.9.       Equity Interests in Holdings, Communications and
                  Services (Class 9)..........................................14
       4.10.      Existing Securities Law Claims (Class 10)...................14
       4.11.      510(c) Claims (Class 11)....................................15
</Table>

                                     Page 6
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<Table>
<S>              <C>                                                          <C>
SECTION 5.       MEANS FOR IMPLEMENTATION.....................................15
       5.1.       Waiver of Subordination.....................................15
       5.2.       Employee Incentive Plan.....................................15
       5.3.       Remaining 2001 Bonus Plan...................................15
       5.4.       Cancellation of Existing Securities and Agreements..........15
       5.5.       Release of Liens............................................15
       5.6.       Board of Directors..........................................16
       5.7.       Corporate Action............................................16
       5.8.       Authorization and Issuance of Plan Securities...............17
       5.9.       Change of Control Agreements................................17
       5.10.      Retention Bonuses...........................................17
       5.11.      Registration Rights Agreement...............................17
       5.12.      Issuance of New Equity in Holdings, Communications
                  and Services................................................17
       5.13.      Corporate Mergers and Consolidations........................17
       5.14.      Newco.......................................................18

SECTION 6.       DISTRIBUTIONS................................................18
       6.1.       Distribution Record Date....................................18
       6.2.       Date of Distributions.......................................18
       6.3.       Satisfaction of Claims......................................18
       6.4.       Disbursing Agent............................................18
       6.5.       Rights and Powers of Disbursing Agent.......................18
       6.6.       Surrender of Instruments....................................19
</Table>

                                     Page 7
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<Table>
<S>              <C>                                                          <C>
       6.7.       Delivery of Distributions...................................19
       6.8.       Distribution of Creditor Plan Securities....................19
       6.9.       Manner of Payment Under Plan of Reorganization..............20
       6.10.      Fractional Shares and Fractional Warrants...................20
       6.11.      Exemption from Securities Laws..............................20
       6.12.      Compromise of Controversies.................................20

SECTION 7.       PROCEDURES FOR DISPUTED CLAIMS...............................21
       7.1.       Objections to Claims........................................21
       7.2.       Payments and Distributions with Respect to Disputed Claims..21
       7.3.       Preservation of Insurance...................................21
       7.4.       Distributions After Allowance...............................22
       7.5.       No Recourse.................................................22

SECTION 8.       EXECUTORY CONTRACTS AND UNEXPIRED LEASES.....................22
       8.1.       General Treatment...........................................22
       8.2.       Cure of Defaults............................................22
       8.3.       Rejection Claims............................................23
       8.4.       Survival of the Debtors' Corporate Indemnities..............23

SECTION 9.       CONDITIONS PRECEDENT TO THE EFFECTIVE DATE...................23
       9.1.       Conditions Precedent........................................23
       9.2.       Waiver of Conditions Precedent..............................23

SECTION 10.      EFFECT OF CONFIRMATION.......................................24
       10.1.      Vesting of Assets...........................................24
</Table>

                                     Page 8
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<Table>
<S>              <C>                                                          <C>
       10.2.      Discharge of Claims and Termination of Equity Interests.....24
       10.3.      Discharge of Debtors........................................24
       10.4.      Term of Injunctions or Stays................................25
       10.5.      Injunction Against Interference With Plan...................25
       10.6.      Exculpation.................................................25
       10.7.      Release of Claims...........................................25
       10.8.      Injunction..................................................25
       10.9.      Retention of Causes of Action/Reservation of Rights.........26

SECTION 11.      RETENTION OF JURISDICTION....................................26

SECTION 12.      MISCELLANEOUS PROVISIONS.....................................28
       12.1.      Exemption from Certain Transfer Taxes.......................28
       12.2.      Essential Trade Creditor and Other Payments.................28
       12.3.      Dissolution of Creditors' Committee.........................28
       12.4.      Substantial Consummation....................................28
       12.5.      Amendments..................................................28
       12.6.      Revocation or Withdrawal of the Plan........................29
       12.7.      Cramdown....................................................29
       12.8.      Confirmation Order..........................................29
       12.9.      Severability................................................29
       12.10.     Governing Law...............................................29
       12.11.     Time........................................................29
       12.12.     Notices.....................................................29
</Table>

                                     Page 9
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                         UNITED STATES BANKRUPTCY COURT
                          EASTERN DISTRICT OF VIRGINIA
                              Alexandria Division

                                      )     Chapter 11 Cases In re:
In re:                                )
                                      )     Case Nos. 02-80125, 02-80126
MOTIENT CORPORATION,                  )               02-80128 and 02-80129-RGM
et al.,                               )
                                      )
                  Debtors.            )     Jointly Administered

                  DEBTORS' AMENDED JOINT PLAN OF REORGANIZATION
                     UNDER CHAPTER 11 OF THE BANKRUPTCY CODE

     Motient Corporation, Motient Holdings Inc., Motient Communications Inc. and
Motient  Services Inc., the  above-captioned  debtors and debtors in possession,
propose the following amended joint plan of reorganization,  pursuant to section
1121(a) of title 11 of the United States Code:

SECTION 1.        DEFINITIONS AND INTERPRETATION

A.       Definitions.

                  The following terms shall have the respective meanings set
forth below (such meanings to be equally applicable to both the singular and
plural):

1.1.  510(c) Claim means any Claim against a Debtor subject to subordination
pursuant to section 510(c) of the Bankruptcy Code.

1.2.  Administrative Bar Date means the date fixed pursuant to section 2.2 of
the Plan by which all Persons asserting certain Administrative Expense Claims

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arising before the Effective Date must have filed proofs of such Administrative
Expense Claims or requests for payment of such Administrative Expense Claims or
be forever barred from asserting such Claims against the Debtors, the Estates or
the Reorganized Debtors or their property, or such other date by which any such
Claim must be filed as may be fixed by order of the Bankruptcy Court.

1.3.  Administrative Expense Claim means any right to payment constituting a
cost or expense of administration of any of the Reorganization Cases (other than
a Fee Claim) allowed under sections 503(b) and 507(a)(1) of the Bankruptcy Code,
including, without limitation, any actual and necessary costs and expenses of
preserving one or more of the Debtors' Estates, any actual and necessary costs
and expenses of operating one or more of the Debtors' businesses, and any fees
or charges assessed against one or more of the Estates of the Debtors under
section 1930 of chapter 123 of title 28 of the United States Code.

1.4.  ADR Procedures means the alternative dispute resolution procedures that
are set forth in the Plan Supplement.

1.5.  Allowed means, with reference to any Claim that is not subject to
disallowance pursuant to section 502(d) of the Bankruptcy Code: (i) any Claim
against any Debtor which has been listed by such Debtor in the Schedules as
liquidated in amount and not disputed or contingent and for which no contrary or
inconsistent proof of claim has been filed; (ii) any Claim proof of which was
filed within the applicable period of limitations fixed by the Bankruptcy Court
(a) as to which no objection to allowance has been interposed prior to the
deadline by which such objections must be filed in accordance with section 7.1
hereof or such other applicable period of limitation fixed by the Bankruptcy

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Code, the Bankruptcy Rules, or the Bankruptcy Court and as to which such
deadline has expired, or (b) as to which an objection has been filed and not
withdrawn and such objection has been determined by a Final Order (but only to
the extent such objection has been overruled); (iii) any Claim which is not a
Disputed Claim; or (iv) any Claim allowed pursuant to the terms of the Plan.
Unless otherwise specified herein or by order of the Bankruptcy Court, Allowed
Claims (including Allowed Administrative Expense Claims) shall not, for any
purpose under the Plan, include interest on such Administrative Expense Claims
or Claims on or after the Commencement Date.

1.6.  Amended Bylaws means the Amended and Restated Bylaws of Reorganized
Motient that are set forth in the Plan Supplement.

1.7.  Amended Certificate of Incorporation means the Restated Certificate of
Incorporation of Reorganized Motient that is set forth in the Plan Supplement.

1.8.  Avaya Financial Services Capital Equipment Lease means that certain
Equipment and Services Agreement dated September 8, 2000 between Avaya Financial
Services (formerly Newcourt Financial) and Motient.

1.9.  Bankruptcy Code means title 11 of the United States Code, as amended from
time to time, as applicable to the Reorganization Cases.

1.10. Bankruptcy Court means the United States Bankruptcy Court for the Eastern
District of Virginia, or any other court exercising competent jurisdiction over
the Reorganization Cases or any proceeding therein.

1.11. Bankruptcy Rules means the Federal Rules of Bankruptcy Procedure, as
promulgated by the United States Supreme Court under section 2075 of title 28 of
the United States Code, as amended from time to time, applicable to the

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Reorganization Cases, and any Local Rules of the Bankruptcy Court.

1.12. Bar Date means March 1, 2002, or such other date as may be fixed in the
Bar Date Order by which all Persons asserting Claims arising before the
Commencement Date must have filed proofs of such Claims or be forever barred
from asserting such Claims against the Debtors or the Estates, or such other
date by which any such Claim must be filed as may be fixed by order of the
Bankruptcy Court.

1.13. Bar Date Order means the order(s) entered by the Bankruptcy Court
establishing the respective Bar Date(s).

1.14. Boeing Satellite means Boeing Satellite Systems, Inc.

1.15. Boeing Satellite Claim means any Claims of Boeing Satellite against
Services or any of the other Debtors including, without limitation, any Claims
relating to the MSAT Spacecraft Contract dated December 10, 1990.

1.16. Business Day means any day other than a Saturday, a Sunday, or any other
day on which banking institutions in New York, New York are required or
authorized to close by law or executive order.

1.17. Case means the Chapter 11 case filed on January 10, 2002 by each of the
Debtors.

1.18. Cash means legal tender of the United States of America or a cash
equivalent.

1.19. Change of Control Agreement means the Change of Control Agreement set
forth in the Plan Supplement pursuant to which those members of the Reorganized
Debtors' senior management that are included on a list filed with the Plan
Supplement will be eligible to receive one (1) year of their annual base

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salary (excluding cash bonus) in the event that both (x) a "Change of Control"
or an anticipated "Change of Control" as defined in the Change of Control
Agreement has occurred, and (y) the employee is terminated or his/her
compensation or responsibilities are reduced.

1.20. Chase Securities means Chase Securities, Inc.

1.21. Chase Securities Claim means any Claims of Chase Securities against
Motient or any of the other Debtors including, without limitation, any Claim for
financial advisory services related to a potential transaction between Motient
and Rare Medium pursuant to a letter agreement between Motient and Chase
Securities dated April 3, 2001.

1.22. Claim means "claim" as defined in section 101(5) of the Bankruptcy Code.
Under section 101(5), a "claim" is any:

-    right to  payment,  whether  or not  such  right is  reduced  to  judgment,
     liquidated,  unliquidated, fixed, contingent, matured, unmatured, disputed,
     undisputed, legal, equitable, secured or unsecured; or

-    right to an equitable remedy for breach of performance if such breach gives
     rise to a right  to  payment,  whether  or not such  right to an  equitable
     remedy is reduced  to  judgment,  fixed,  contingent,  matured,  unmatured,
     disputed, undisputed, secured or unsecured.

1.23. Class means any group of Claims or Equity Interests classified by the Plan
pursuant to sections 1122 and 1123(a)(1) of the Bankruptcy Code.

1.24. Commencement Date means January 10, 2002.

1.25. Communications means Motient Communications Inc.

1.26. Compaq Financial Services Capital Equipment Lease means that certain

                                    Page 14
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Equipment and Services Agreement dated June 30, 2000 between Compaq Financial
Services and Communications.

1.27. Confirmation Date means the date on which the Clerk of the Bankruptcy
Court enters the Confirmation Order on the docket.

1.28. Confirmation Hearing means the hearing to be held by the Bankruptcy Court
regarding confirmation of the Plan, as such hearing may be adjourned or
continued from time to time.

1.29. Confirmation Order means the order of the Bankruptcy Court confirming the
Plan of Reorganization pursuant to section 1129 of the Bankruptcy Code.

1.30. Creditor Plan Securities means all of the Plan Securities except the
Employee Incentive Plan Securities, the Old Motient Equity Plan Securities and
the Professional Plan Securities.

1.31. Creditors' Committee means the statutory committee of unsecured creditors
appointed in the Reorganization Cases in accordance with section 1102 of the
Bankruptcy Code, as the same may be reconstituted from time to time.

1.32. Debtors means Motient Corporation, Motient Holdings Inc., Motient
Communications Inc. and Motient Services Inc.

1.33. Disbursing Agent means any entity designated as such by Reorganized
Motient (including any applicable Reorganized Debtor if it acts in such
capacity) in its capacity as a disbursing agent.

1.34. Disclosure Statement means the Disclosure Statement that relates to the
Plan, as such Disclosure Statement may be amended, modified, or supplemented
(including all exhibits and schedules annexed thereto or referred to therein).

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1.35. Disputed Claim means any Claim that is not an Allowed Claim as of the
relevant date.

1.36. Distribution Record Date means the Confirmation Date.

1.37. Effective Date means the first (1st) Business Day on or after the
Confirmation Date specified by the Debtors on which: (i) no stay of the
Confirmation Order is in effect; and (ii) all conditions to the effectiveness of
the Plan specified in section 9.1 hereof have been satisfied or waived.

1.38. Employee Incentive Plan means the Employee Incentive Plan to be
established as soon as possible after the Effective Date by the Board of
Directors of Reorganized Motient pursuant to which management and employees of
the Debtors will receive a combination of options to purchase New Motient Common
Stock and shares of restricted New Motient Common Stock together aggregating up
to ten percent (10%) of the Plan Securities on a fully diluted basis with
vesting terms and other provisions and conditions based on operating and
performance targets and other criteria to be decided by the Board of Directors
of Reorganized Motient.

1.39. Employee Incentive Plan Securities means the number of shares of Plan
Securities that may be issued under the Employee Incentive Plan.

1.40. Equity Interest means as of the Commencement Date, any capital stock or
other ownership interest in any of the Debtors, whether or not represented by
any issued and outstanding shares of common or preferred stock or other
instrument evidencing a present ownership interest in any of the Debtors,
whether or not transferable, and any option, warrant, conversion right or other
right, contractual or otherwise, to acquire any such interest including

                                    Page 16
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without limitation, any liquidation preferences or any redemption, exchange,
voting participation or dividend rights.

1.41. Estates means the estates created in the Reorganization Cases in
accordance with section 541 of the Bankruptcy Code.

1.42. Existing Securities Law Claims means a Claim against a Debtor that is
subject to subordination under section 510(b) of the Bankruptcy Code.

1.43. Fee Claim means a Claim for compensation, indemnification or reimbursement
of expenses pursuant to sections 327, 328, 330, 331 or 503(b) of the Bankruptcy
Code in connection with the Reorganization Cases.

1.44. Final Order means an order or judgment of the Bankruptcy Court entered by
the Clerk of the Bankruptcy Court on the docket in the Reorganization Cases, (i)
which has not been reversed, vacated, or stayed, and as to which the time to
appeal, petition for certiorari or move for a new trial, reargument, or
rehearing has expired; or (ii) which, if an appeal, writ of certiorari, new
trial, reargument, or rehearing thereof has been sought, (a) such order or
judgment of the Bankruptcy Court shall not have been stayed or the stay has been
terminated, or (b) such order or judgment, if stayed, shall have been affirmed
by the highest court to which such order was appealed, or certiorari shall have
been denied, or a new trial, reargument, or rehearing shall have been denied or
resulted in no modification of such order, and the time to take any further
appeal, petition for certiorari or move for a new trial, reargument or rehearing
shall have expired; provided, however, that the filing of or the possibility
that a motion under Rule 60 of the Federal Rules of Civil Procedure, or any
analogous rule under the Federal Rules, may be filed relating to such

                                    Page 17
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order or judgment shall not cause such order or judgment not to be a Final
Order.

1.45. Holdings means Motient Holdings Inc.

1.46. Indenture Trustee means State Street Bank and Trust Company solely in its
respective capacity as Trustee under the Indenture, dated as of March 31, 1998,
for the Senior Notes.

1.47. Informal Committee means the Informal Committee of Senior Note Holders
that was formed prior to the Commencement Date as the same may have been or may
be reconstituted from time to time.

1.48. Insured Claim means any Claim to the extent such Claim arises prior to the
Commencement Date from an incident or occurrence that is covered under any of
the Debtors' insurance policies, but solely to the extent such Claim is so
covered.

1.49. Interdebtor Claim means any Claim held by a Debtor against another Debtor.

1.50. Motient means Motient Corporation.

1.51. Motorola means Motorola, Inc.

1.52. Motorola's Secured Claim means the claim of Motorola under the Credit
Agreement dated as of June 17, 1998 between ARDIS Company and Motorola, as
amended by Amendment No. 1 to Credit Agreement dated as of October 15, 1998, as
further amended by Amendment No. 2 to Credit Agreement dated as of September 1,
2000, as further amended by the Assumption, Release and Waiver Agreement dated
as of December 29, 2000, and as further amended by that certain letter agreement
dated December 28, 2001.

1.53. MSV means Mobile Satellite Ventures LP.

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1.54. New Motient Common Stock shall mean the common stock of Reorganized
Motient, par value $0.01 per share, to be authorized under the Amended
Certificate of Incorporation.

1.55. Newco means a new intermediate holding company to be created between
Motient and Ventures, to be owned 100% by Motient.

1.56. Old Motient Equity Plan Securities means five percent on a fully diluted
basis of the Plan Securities.

1.57. Old Motient Equity Warrant Agreement means the Old Motient Equity Warrant
Agreement set forth in the Plan Supplement.

1.58. Old Motient Equity Warrants means warrants to acquire the Old Motient
Equity Plan Securities pursuant to the terms set forth in the Old Motient Equity
Warrant Agreement.

1.59. Other Secured Claim means a Secured Claim that is not included in Classes
1A, B or C of this Plan.

1.60. Other Unsecured Claim means an Unsecured Claim against any of the Debtors
that is not included in any of the Classes 1A, 1B, 1C, 1D, 2, 3, 4, 5, 7, 10 or
11 under this Plan including, without limitation, the Chase Securities Claim and
the Boeing Satellite Claim.

1.61. Person means any individual, corporation, partnership, association,
indenture trustee, limited liability company, organization, joint stock company,
joint venture, Estate, trust, governmental unit or any political subdivision
thereof, the Creditors' Committee, interest holders, or any other entity.

1.62. Plan means this joint chapter 11 plan of reorganization, including,
without limitation, the exhibits and schedules hereto, as the same may

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be amended or modified from time to time in accordance with the provisions of
the Bankruptcy Code and the terms hereof.

1.63. Plan Documents means the documents (other than the Plan) to be executed,
delivered, assumed, and/or performed in conjunction with the consummation of the
Plan of Reorganization on the Effective Date, including, but not limited to: the
ADR Procedures, Amended Bylaws of Motient, Amended Certificate of Incorporation
of Motient, Change of Control Agreement, Letter of Transmittal for surrendering
certificates representing Motient common stock, Letter of Transmittal for
surrendering instrument representing Senior Notes, Old Motient Equity Warrant
Agreement, Old Motient Equity Warrants, Registration Rights Agreement, Remaining
2001 Bonus Plan, Retention Bonus List, Schedule of contracts and leases to be
rejected by Debtors, and Senior Indebtedness Note.

1.64. Plan of Reorganization means the Plan and the Plan Documents, as the same
may be amended or modified from time to time in accordance with the provisions
of the Bankruptcy Code and the terms hereof.

1.65. Plan Securities means the number of shares of New Motient Common Stock as
shall be designated in a pleading to be filed by the Debtors within one week
after the Bar Date.

1.66. Plan Supplement means the Plan Supplement filed by the Debtors which
includes ADR Procedures, Amended Bylaws of Motient, Amended Certificate of
Incorporation of Motient, Change of Control Agreement, Letter of Transmittal for
surrendering certificates representing Motient common stock, Letter of
Transmittal for surrendering instrument representing Senior Notes, Old Motient
Equity Warrant Agreement, Old Motient Equity Warrants, Registration Rights

                                    Page 20
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Agreement, Remaining 2001 Bonus Plan, Retention Bonus List, Schedule of
contracts and leases to be rejected by Debtors, and Senior Indebtedness Note.

1.67. Priority Non-Tax Claim means any Claim against any of the Debtors other
than an Administrative Expense Claim or a Priority Tax Claim, entitled to
priority in payment as specified in section 507(a) of the Bankruptcy Code.

1.68. Priority Tax Claim means any Claim of a governmental unit against one or
more of the Debtors of the kind entitled to priority in payment under section
507(a)(8) of the Bankruptcy Code.

1.69. Professional Equity means any options or warrants that are issued to
investment advisors that assisted either the Debtors or the Creditors' Committee
pursuant to which the investment advisors may purchase Professional Plan
Securities pursuant to orders entered (or that may be entered) by the Bankruptcy
Court as partial compensation for professional services rendered by the
investment advisors in these Cases.

1.70. Professional Plan Securities means options to purchase up to 2.575% on
a fully diluted basis of the Plan Securities.

1.71. Rare Medium means Rare Medium Group, Inc.

1.72. Rare Medium Claim means claim of Rare Medium against Motient pursuant to
Note Purchase Agreement dated April 2, 2001 between Rare Medium and Motient as
amended on October 1, 2001 and October 12, 2001.

1.73. Registration Rights Agreement means that certain Registration Rights
Agreement, dated as of the Effective Date, that is set forth in the Plan
Supplement pursuant to which any holder of an Allowed Claim that receives Plan

                                    Page 21
<Page>

Securities and thereby becomes an "affiliate" as defined in rules promulgated
under the Securities Act of 1933, as amended, is granted certain customary
registration rights.

1.74. Remaining 2001 Bonus Plan means that certain Remaining 2001 Bonus Plan,
dated as of the Effective Date, that is set forth in the Plan Supplement.

1.75. Reorganization Cases means the jointly administered cases under chapter 11
of the Bankruptcy Code commenced by the Debtors on January 10, 2002 in the
Bankruptcy Court and styled In re Motient Corporation, et al., 02-80125.

1.76. Reorganized Company means the Reorganized Debtors and each of their
non-Debtor subsidiaries.

1.77. Reorganized Debtors means each of the Debtors, on and after the Effective
Date.

1.78. Reorganized Motient means Motient Corporation, on and after the Effective
Date.

1.79. Representative means any officer, director, agent, financial advisor,
attorney, professional, accountant, employee or controlling shareholder (direct
or indirect) of a Debtor, in each case, solely in their capacity as such,
serving or holding interests on or after January 1, 2001.

1.80. Retention Bonuses means an aggregate of three hundred and twenty-five
thousand dollars ($325,000.00) to be paid on the Effective Date to those
employees of the Debtors on the Confirmation Date who are on a list to be agreed
upon by the Debtors and the Informal Committee and included in the Plan
Supplement.

                                    Page 22
<Page>

1.81. Schedules means the schedules of assets and liabilities, lists of holders
of Equity Interests, and the statement of financial affairs filed by the Debtors
under section 521 of the Bankruptcy Code, Bankruptcy Rule 1007 and the Official
Bankruptcy Forms of the Bankruptcy Rules as such schedules and statements have
been or may be supplemented or amended through and including the date by which
objections to Claims may be filed with the Bankruptcy Court.

1.82. Secured Claim means a Claim that is secured by a lien on property in which
any or all of the Estates have an interest or that is subject to setoff under
section 553 of the Bankruptcy Code, to the extent of the value of the Claim
holder's interest in the Estates' interest in such property or to the extent of
the amount subject to setoff, as applicable, as determined pursuant to section
506(a) of the Bankruptcy Code, provided, however, that solely for the purposes
of treatment under the Plan, a Secured Claim shall not include a Senior Note
Claim or Interdebtor Claim.

1.83. Senior Indebtedness Claims means Claims (including the Rare Medium Claim)
against Motient that constitute "Senior Indebtedness" of Motient as defined
under the terms of the Senior Note Indenture.

1.84. Senior Indebtedness Note means the Senior Indebtedness Note set forth
in the Plan Supplement.

1.85. Senior Note Claim means a Claim against the Debtors for amounts due under
or in connection with the Senior Notes or the Senior Note Indenture.

1.86. Senior Note Distribution means 25,000,000 shares of New Motient Common
Stock.

1.87. Senior Note Indenture means the Indenture, dated March 31, 1998, for the

                                    Page 23
<Page>

Senior Notes.

1.88. Senior Notes means the Series A and Series B 12.25% Senior Notes due 2008
issued by Holdings and guaranteed by Motient, Communications and Services.

1.89. Services means Motient Services Inc.

1.90. Subsidiary Debtors means each of the Debtors except for Motient.

1.91. Trade Claims means (a) any Claim against Communications arising with
respect to the sale of goods or services prior to the Commencement Date, in the
ordinary course of Communications' business including, without limitation,
Claims of vendors, insurance companies, information service providers, telephone
and telecom service providers, technical support providers, lessors and freight
and shipping providers; and (b) any Claim in respect of salary, benefits or
severance of any employee of any of the Debtors that is not a Priority Non-Tax
Claim or Administrative Expense Claim.

1.92. Unsecured Claim means any Claim against any of the Debtors other than a
Secured Claim, Administrative Expense Claim, Priority Tax Claim, Priority
Non-Tax Claim, Fee Claim, Interdebtor Claim, Existing Securities Law Claim or
510(c) Claim.

1.93. Ventures means Motient Ventures Holding Inc.

1.94. Voting Agent means Bankruptcy Services LLC, as voting agent in connection
with voting by holders of Claims and Equity Interests to accept or reject the
Plan.

1.95. Voting Classes means a Class that is impaired under the Plan and that is
not deemed to have rejected the Plan.

1.96. Voting Procedures Order means an order of the Bankruptcy Court

                                    Page 24
<Page>

that sets which Claims and Equity Interests may vote on the Plan and designates
the form of ballot to be used by each Voting Class.

B.       Interpretation; Application of Definitions and Rules of Construction.

                  Unless otherwise specified, all section or exhibit references
in the Plan are to the respective section in, or exhibit to, the Plan. The words
"herein," "hereof," "hereto," "hereunder," and other words of similar import
refer to the Plan as a whole and not to any particular section, subsection, or
clause contained therein. Any capitalized term used herein that is not defined
herein shall have the meaning assigned to that term in the Bankruptcy Code.
Except for the rule contained in section 102(5) of the Bankruptcy Code, the
rules of construction contained in section 102 of the Bankruptcy Code shall
apply to the Plan. The headings in the Plan are for convenience of reference
only and shall not limit or otherwise affect the provisions hereof. To the
extent there is an inconsistency between any of the provisions of the Plan and
any of the provisions contained in the Plan Documents to be entered into as of
the Effective Date, the Plan Documents shall control.

SECTION 2.        ADMINISTRATIVE EXPENSE CLAIMS, FEE CLAIMS AND PRIORITY TAX
                    CLAIMS

2.1.          Administrative Expense Claims.

                  Except to the extent that a holder of an Allowed
Administrative Expense Claim agrees to a different treatment, the Debtors shall
pay to each holder of an Allowed Administrative Expense Claim Cash in an amount
equal to such Claim on the later of the Effective Date and the first (1st)
Business Day after the date that is thirty (30) calendar days after the date

                                    Page 25
<Page>

such Administrative Expense Claim becomes an Allowed Administrative Expense
Claim, or as soon thereafter as is reasonably practicable; provided, however,
that Allowed Administrative Expense Claims representing liabilities incurred in
the ordinary course of business by the Debtors, as debtors in possession, or
liabilities arising under loans or advances to or other obligations incurred by
the Debtors, as debtors in possession, whether or not incurred in the ordinary
course of business, shall be paid by the Reorganized Debtors in the ordinary
course of business, consistent with past practice and in accordance with the
terms and subject to the conditions of any orders or agreements governing,
instruments evidencing, or other documents relating to such transactions. Any
postpetition expenses of the Indenture Trustees and the reasonable postpetition
fees and expenses of their respective counsel shall be paid to the extent such
fees and expenses are reasonable and to the extent approved by the Bankruptcy
Court after notice and hearing.

2.2.          Bar Date for Administrative Expense Claims.

                  PROOFS OF ADMINISTRATIVE EXPENSE CLAIMS AND REQUESTS FOR
PAYMENT OF ADMINISTRATIVE EXPENSE CLAIMS THAT HAVE ARISEN ON OR AFTER JANUARY
10, 2002 MUST BE FILED AND SERVED PURSUANT TO THE PROCEDURES SET FORTH IN THE
CONFIRMATION ORDER OR NOTICE OF ENTRY OF CONFIRMATION ORDER, NO LATER THAN
FORTY-FIVE DAYS AFTER THE EFFECTIVE DATE. Notwithstanding anything to the
contrary herein, no proof of Administrative Expense Claim or application for
payment of an Administrative Expense Claim need be filed for the allowance of
any: (i) expense or liability incurred in the ordinary course of the Reorganized
Debtors' businesses on or after the Effective Date; (ii) Administrative Expense

                                    Page 26
<Page>

Claim held by a trade vendor, which administrative liability was incurred in the
ordinary course of business of the Debtor and such creditor after the
Commencement Date; (iii) Fee Claims; or (iv) fees of the United States Trustee
arising under 28 U.S.C. ss. 1930. All Claims described in clause (i), (ii) and
(iv) of the immediately preceding sentence shall be paid by the Reorganized
Debtors in the ordinary course of business. Fee Claims shall be paid in
accordance with section 2.3 hereof.

                  Any Persons that fail to file a proof of Administrative
Expense Claim or request for payment thereof on or before the Administrative Bar
Date as required herein shall be forever barred from asserting such Claim
against any of the Debtors, the Estates, the Reorganized Debtors or their
property and the holder thereof shall be enjoined from commencing or continuing
any action, employment of process or act to collect, offset or recover such
Administrative Expense Claim.

2.3.          Fee Claims.

                  All Persons seeking an award by the Bankruptcy Court of a Fee
Claim incurred through and including the Effective Date shall, unless otherwise
ordered by the Bankruptcy Court: (i) file their respective final applications
for allowance of compensation for services rendered and reimbursement of
expenses incurred by the date that is no later than forty-five (45) days after
the Effective Date; and (ii) be paid in full in such amounts as are approved by
the Bankruptcy Court upon the later of (a) the date upon which the order
relating to any such Fee Claim is entered or (b) upon such other terms as may be
mutually agreed upon between the holder of such Fee Claim and the Debtors or, on
and after the Effective Date, the Reorganized Debtors.

                                    Page 27
<Page>

2.4.          Priority Tax Claims.

                  Except to the extent that a holder of an Allowed Priority Tax
Claim agrees to a different treatment, at the sole option of the Reorganized
Debtors, each holder of an Allowed Priority Tax Claim shall receive, in full and
complete settlement, satisfaction and discharge of its Allowed Priority Tax
Claim: (i) Cash in an amount equal to such Allowed Priority Tax Claim on, or as
soon thereafter as is reasonably practicable, the later of the Effective Date
and the first (1st) Business Day after the date that is thirty (30) calendar
days after the date such Priority Tax Claim becomes an Allowed Priority Tax
Claim, or (ii) equal annual Cash payments in an aggregate amount equal to such
Allowed Priority Tax Claim, together with interest at the interest rate for
five(5) year treasury bills or such other rate set by order of the Bankruptcy
Court in the Confirmation Order, over a period not exceeding six (6) years after
the date of assessment of such Allowed Priority Tax Claim, which shall begin on,
or as soon thereafter as is reasonably practicable, the later of the Effective
Date and the first Business Day after the date that is thirty (30) calendar days
after the date such Priority Tax Claim becomes an Allowed Priority Tax Claim.
All Allowed Priority Tax Claims that are not due and payable on or before the
Effective Date shall be paid in the ordinary course of business as such
obligations become due.

SECTION 3.        CLASSIFICATION OF CLAIMS AND EQUITY INTERESTS

                  The following table designates the Classes of Claims against
and Equity Interests in the Debtors, and specifies which Classes are (i)
impaired or unimpaired by the Plan, (ii) entitled to vote to accept or

                                    Page 28
<Page>

reject the Plan in accordance with section 1126 of the Bankruptcy Code, and
(iii) deemed to accept or reject the Plan.

<Table>
<Caption>

Classes.
---------------- -------------------------------------------- ------------------  ---------------------

                                                                                  Entitled
Class            Designation                                  Impairment          to Vote
-----            -----------                                  ----------          --------
<S>              <C>                                          <C>                 <C>
Class 1A         Motorola's Secured Claim                     Unimpaired          No (deemed to accept)
Class 1B         Compaq Financial Services Capital            Unimpaired          No (deemed to accept)
                 Equipment Lease Claim
Class 1C         Avaya Financial Services Capital Equipment   Unimpaired          No (deemed to accept)
                 Lease Claim
Class 1D         Other Secured Claims                         Unimpaired          No (deemed to accept)
Class 2          Priority Non-Tax Claims                      Impaired            Yes
Class 3          Senior Note Claims                           Impaired            Yes
Class 4          Trade Claims                                 Impaired            Yes
Class 5          Senior Indebtedness Claims                   Impaired            Yes
Class 6A         Other Unsecured Claims against Motient       Impaired            Yes
Class 6B         Other Unsecured Claims against Holdings      Impaired            Yes
Class 6C         Other Unsecured Claims against               Impaired            Yes
                 Communications
Class 6D         Other Unsecured Claims against Services      Impaired            Yes
Class 7          Interdebtor Claims                           Unimpaired          No (deemed to accept)

                                    Page 29
<Page>

Class 8A         Motient Equity - Common Stock                Impaired            Yes
Class 8B         Motient Equity - Other Equity Interests      Impaired            No (deemed to reject)
Class 9          Equity Interests In Holdings,                Impaired            No (deemed to reject)
                 Communications and Services
Class 10         Existing Securities Law Claims               Impaired            No (deemed to reject)
Class 11         510(c) Claims                                Impaired            No (deemed to reject)
---------------- -------------------------------------------- ------------------  ---------------------
</Table>

3.1.          Subclasses for Class 1, Class 6 and Class 8.

                  For convenience of identification, the Plan describes the
Allowed Claims in Class 1, Class 6 and Class 8 as single Classes. These Classes
consist of separate subclasses, each based on the nature of the underlying
Claims or Equity Interests, and each subclass is treated hereunder as a distinct
Class for treatment and distribution purposes. No Claim or Equity Interests
shall be Allowed under more than one Class.

SECTION 4.        TREATMENT OF CLAIMS AND EQUITY INTERESTS

4.1.          Secured Claims (Class 1).

(a)      Class 1A (Motorola's Secured Claim)

                  With respect to Motorola's Secured Claim, on or as soon as
reasonably practicable after the later of the Effective Date and the first (1st)
Business Day after the date that is thirty (30) calendar days after the date
such Claim becomes Allowed, such Allowed Claim shall receive such treatment that
either (i) leaves unaltered the legal, equitable, or contractual rights to which
such Allowed Claim is entitled or (ii) leaves such Allowed Claim unimpaired
pursuant to section 1124(2) of the Bankruptcy Code. In accordance with

                                    Page 30
<Page>

section 1126(f) of the Bankruptcy Code, the holder of such Allowed Claim is
conclusively presumed to accept this Plan and the vote of such holder will not
be solicited with respect to such Claim.

(b)      Class 1B (Compaq Financial Services Capital Equipment Lease)

                  With respect to the Claim arising under the Compaq Financial
Services Capital Equipment Lease, on or as soon as reasonably practicable after
the later of the Effective Date and the first (1st) Business Day after the date
that is thirty (30) calendar days after the date such Claim becomes Allowed,
such Allowed Claim shall receive such treatment that either (i) leaves unaltered
the legal, equitable, or contractual rights to which such Allowed Claim is
entitled or (ii) leaves such Allowed Claim unimpaired pursuant to section
1124(2) of the Bankruptcy Code. In accordance with section 1126(f) of the
Bankruptcy Code, the holder of such Allowed Claim is conclusively presumed to
accept this Plan and the vote of such holder will not be solicited with respect
to such Claim.

(c)      Class 1C (Avaya Financial Services Capital Equipment Lease)

                  With respect to the Claim arising under the Avaya Financial
Services Capital Equipment Lease, on or as soon as reasonably practicable after
the later of the Effective Date and the first (1st) Business Day after the date
that is thirty (30) calendar days after the date such Claim becomes Allowed,
such Allowed Claim shall receive such treatment that either (i) leaves unaltered
the legal, equitable, or contractual rights to which such Allowed Claim is
entitled or (ii) leaves such Allowed Claim unimpaired pursuant to section
1124(2) of the Bankruptcy Code. In accordance with section 1126(f) of

                                    Page 31
<Page>

the Bankruptcy Code, the holder of such Allowed Claim is conclusively presumed
to accept this Plan and the vote of such holder will not be solicited with
respect to such Claim.

(d)      Class 1D (Other)

                  With respect to each Other Secured Claim, on or as soon as
reasonably practicable after the later of the Effective Date and the first (1st)
Business Day after the date that is thirty (30) calendar days after the date
such Claim becomes Allowed, such Allowed Claim shall receive such treatment that
either (i) leaves unaltered the legal, equitable, or contractual rights to which
such Allowed Claim is entitled or (ii) leaves such Allowed Claim unimpaired
pursuant to section 1124(2) of the Bankruptcy Code. In accordance with section
1126(f) of the Bankruptcy Code, the holder of such Allowed Claim is conclusively
presumed to accept this Plan and the vote of such holder will not be solicited
with respect to such Claim.

4.2.          Priority Non-Tax Claims (Class 2).

                  Except to the extent that a holder of an Allowed Priority
Non-Tax Claim agrees to a different treatment, each such holder of an Allowed
Priority Non-Tax Claim shall receive, in full satisfaction of such Claim, Cash
in an amount equal to such Claim, on or as soon as reasonably practicable after
the later of (i) the Effective Date and (ii) the first (1st) Business Day after
the date that is thirty (30) calendar days after the date (a) such Claim becomes
Allowed and (b) for payment provided by any agreement or understanding between
the parties.

4.3.          Senior Note Claims (Class 3).

                                    Page 32
<Page>

                  On or as soon as reasonably practicable after the Effective
Date, each holder of an Allowed Senior Note Claim shall receive, in full
satisfaction of such Claim, a pro rata share of the Senior Note Distribution
determined by multiplying the Senior Note Distribution times the ratio of the
aggregate amount of outstanding principal under all of the Senior Notes held by
such holder over the aggregate amount of outstanding principal under all of the
Senior Notes that are issued and outstanding.

4.4.          Trade Claims (Class 4).

                  Except to the extent that a holder of a Trade Claim agrees to
a different treatment, each holder of an Allowed Trade Claim shall receive, in
full satisfaction of such Claim, Cash in an amount equal to the Allowed Amount
of such Claim, on or as soon as reasonably practicable after the later of (i)
the Effective Date and (ii) the first (1st) Business Day after the date that is
thirty (30) calendar days after the date such Claim becomes Allowed. All Claims
on account of severance agreements for pay and benefits shall be deemed to be
agreed by the parties to be paid in the manner and at the times which are in the
ordinary course of such agreements.

4.5.          Senior Indebtedness Claims (Class 5).

                  On or as soon as reasonably practicable after the Effective
Date, each holder of an Allowed Senior Indebtedness Claim shall receive from
Newco, in full satisfaction of such Claim, a Senior Indebtedness Note for the
Allowed amount of the Motient Senior Indebtedness Claim. The interest rate of
the Senior Indebtedness Notes may be adjusted in such manner at the Confirmation
Hearing (without further notice or solicitation of creditors or other

                                    Page 33
<Page>

parties in interest) as the Bankruptcy Court determines is necessary to satisfy
the confirmation standards set forth in the Bankruptcy Code and the Plan will be
confirmed subject to any such adjustment without further notice or solicitation.
(a)

4.6.          Other Unsecured Claims (Class 6).

(a)      Class 6A (Other Unsecured Claims against Motient)

                  On or as soon as reasonably practicable after the Effective
Date, to the extent a holder of Other Unsecured Claims against Motient is
determined to have an Allowed Claim, that holder will receive, in full
satisfaction of such Claim, a pro rata share of 97,256 shares of New Motient
Common Stock divided among Allowed Claims in Classes 6A, 6B, 6C, and 6D.

(b)      Class 6B (Other Unsecured Claims against Holdings)

                  On or as soon as reasonably practicable after the Effective
Date, to the extent a holder of Other Unsecured Claims against Holdings is
determined to have an Allowed Claim, that holder will receive, in full
satisfaction of such Claim, a pro rata share of 97,256 shares of New Motient
Common Stock divided among Allowed Claims in Classes 6A, 6B, 6C, and 6D.

(c)      Class 6C (Other Unsecured Claims against Communications)

                  On or as soon as reasonably practicable after the Effective
Date, to the extent a holder of Other Unsecured Claims against Communications is
determined to have an Allowed Claim, that holder will receive, in full
satisfaction of such Claim, a pro rata share of 97,256 shares of New Motient
Common Stock divided among Allowed Claims in Classes 6A, 6B, 6C, and 6D.

(d)      Class 6D (Other Unsecured Claims against Services)

                                    Page 34
<Page>

                  On or as soon as reasonably practicable after the Effective
Date, to the extent a holder of Other Unsecured Claims against Services is
determined to have an Allowed Claim, that holder will receive, in full
satisfaction of such Claim, a pro rata share of 97,256 shares of New Motient
Common Stock divided among Allowed Claims in Classes 6A, 6B, 6C, and 6D.

4.7.          Interdebtor Claims (Class 7).

                  All Interdebtor Claims shall receive such treatment that
either (i) leaves unaltered the legal, equitable, or contractual rights to which
the holder of such Interdebtor Claim is entitled or (ii) leaves such Interdebtor
Claim unimpaired pursuant to section 1124(2) of the Bankruptcy Code. In
accordance with section 1126(f) of the Bankruptcy Code, the holders of such
Interdebtor Claims are conclusively presumed to accept this Plan and the vote of
such holder will not be solicited with respect to such Claims.

4.8.          Motient Equity (Class 8).

(a)      Class 8A (Common Stock)

                  Subject to the provision set forth in the last sentence of
this paragraph, on or as soon as reasonably practicable after the Effective
Date, each holder of common stock in Motient on the Confirmation Date will
receive, in full satisfaction of such common stock holding, Old Motient Equity
Warrants to purchase a pro rata share of the Old Motient Equity Plan Securities
determined by multiplying the number of Old Motient Equity Plan Securities times
the ratio of the number of shares of Motient common stock held by the holder on
the Confirmation Date over the total number of shares of Motient common stock
that were outstanding on the Confirmation Date. The existing common stock

                                    Page 35
<Page>

of Motient shall be cancelled. To the extent any holder of common stock in
Motient on the Confirmation Date is not permitted, as a matter of law, to own
warrants (including, without limitation, the 401(k) Plan established by the
Debtors for their employees), the Debtors will have no obligation to issue Old
Motient Equity Warrants to such holder unless such holder obtains, within one
year of the Effective Date, any necessary authorizations to become the holder of
Old Motient Equity Warrants. There will be no distribution of any kind
(including, without limitation, Old Motient Equity Warrants) to Motient common
stock holders, if the Bankruptcy Court determines at the Confirmation Hearing
that any such distribution will violate section 1129(b) of the Bankruptcy Code,
and the Plan will be confirmed subject to the provisions of this sentence
without further notice or solicitation.

(b)      Class 8B (Other Equity Interests)

                  Class 8B consists of all Equity Interests in Motient other
than the existing common stock, the New Motient Common Stock and the Old Motient
Equity Warrants (the "Other Equity Interests"). The Other Equity Interests shall
be deemed cancelled as of the Effective Date and will receive no distribution
under the Plan. The holders of such Other Equity Interests are conclusively
presumed to reject this Plan and the votes of such holders will not be solicited
with respect to such Equity Interests.

4.9.          Equity Interests in Holdings, Communications and Services
                (Class 9).

                  All present Equity Interests in Holdings, Communications and
Services will receive no distribution under the Plan and all such Equity

                                    Page 36
<Page>

Interests will be deemed to be cancelled on the Effective Date.

4.10.         Existing Securities Law Claims (Class 10).

                  Each holder of an Existing Securities Law Claim shall receive
no distribution under the Plan. In accordance with section 1126 of the
Bankruptcy Code, the holders of such Existing Securities Law Claims are
conclusively presumed to reject this Plan and the votes of such holders will not
be solicited with respect to such Claims.

4.11.         510(c) Claims (Class 11).

                  Each holder of a 510(c) Claim shall receive no distribution
under the Plan. In accordance with section 1126 of the Bankruptcy Code, the
holders of such 510(c) Claims are conclusively presumed to reject this Plan and
the votes of such holders will not be solicited with respect to such Claims.

SECTION 5.        MEANS FOR IMPLEMENTATION

5.1.          Waiver of Subordination.

                  The distributions under the Plan take into account the
relative priority of the Claims in each Class in connection with any contractual
subordination provisions relating thereto. Accordingly, the distributions to the
holders of Claims shall not be subject to levy, garnishment, attachment, or
other legal process by any holder of indebtedness senior to the indebtedness of
the holders of the Senior Note Claims, by reason of claimed contractual
subordination rights. On the Effective Date, all creditors shall be deemed to
have waived any and all contractual subordination rights which they may have
with respect to such distribution, and the Confirmation Order shall permanently
enjoin, effective as of the Effective Date, all holders of Claims from enforcing

                                    Page 37
<Page>

or attempting to enforce any such rights with respect to the distributions under
the Plan.

5.2.          Employee Incentive Plan.

                  On or as soon as reasonably practicable after the Effective
Date, the Board of Directors of Reorganized Motient is authorized to, and shall
adopt and implement, the Employee Incentive Plan without the need for any
further corporate action. On the Effective Date, Reorganized Motient is further
authorized to issue all Employee Incentive Plan Securities in accordance with
the terms set forth in the Employee Incentive Plan.

5.3.          Remaining 2001 Bonus Plan.

                  On the Effective Date, the Reorganized Debtors shall implement
the Remaining 2001 Bonus Plan.

5.4.          Cancellation of Existing Securities and Agreements.

                  Except for the purpose of evidencing a right to distributions
under the Plan and except as expressly provided in this Plan, on the Effective
Date, all the agreements, instruments, and other documents evidencing the Claims
or Equity Interests rights of any holder of a Claim or Equity Interest against
the Debtors, including options or warrants to purchase Equity Interests, any
agreement obligating the Debtors to issue, transfer, or sell Equity Interests or
any other capital stock of the Debtors and the Senior Notes shall be deemed
cancelled and of no force or effect.

5.5.          Release of Liens.

                  Except as otherwise specifically provided in or contemplated
by the Plan or in any contract, instrument or other agreement or document

                                    Page 38
<Page>

created in connection with the Plan, (i) each holder of: (a) any Claim that is
purportedly secured; and/or (b) any judgment, personal property or ad valorem
tax, mechanics' or similar lien Claim, in each case regardless of whether such
Claim is an Allowed Claim, shall, on or immediately before the Effective Date
and regardless of whether such Claim has been scheduled or proof of such Claim
has been filed: (y) turn over and release to the Estates or the Reorganized
Debtors, as the case may be, any and all property of a Debtor or Estate that
secures or purportedly secures such Claim, or such lien and/or Claim shall
automatically, and without further action by the Debtors, the Estates or the
Reorganized Debtors, be deemed released; and (z) execute such documents and
instruments as the Disbursing Agent or the Reorganized Debtors, as the case may
be, require to evidence such Claim holder's release of such property or lien,
and if such holder refuses to execute appropriate documents or instruments, the
Debtors, the Estates or the Reorganized Debtors (as applicable) may, in their
discretion, file a copy of the Confirmation Order in the appropriate recording
office, which shall serve to release any Claim holder's rights in such property;
and (ii) on the Effective Date, all right, title and interest in such property
shall revert or be transferred to the respective Reorganized Debtors or the
Disbursing Agent, as applicable, free and clear of all Claims and interests,
including, without limitation, liens, escrows, charges, pledges, encumbrances
and/or security interests of any kind.

5.6.          Board of Directors.

(a) The initial Board of Directors of Reorganized Motient shall consist of seven
(7) members whose names shall be disclosed prior to the Confirmation Hearing.

                                    Page 39
<Page>

The initial Board of Directors shall be selected as follows: the Informal
Committee shall select five (5) members; one (1) member will be the Chief
Executive Officer of Reorganized Motient; and one (1) member will be another
officer of Reorganized Motient or a person who was serving on Motient's Board of
Directors on the Commencement Date to be agreed upon by the Informal Committee
and Motient prior to the Confirmation Hearing. At least two (2) Business Days
prior to the commencement of the Confirmation Hearing, the Debtors shall file
with the Bankruptcy Court a schedule setting forth the names of the persons to
be appointed as the directors of Reorganized Motient pursuant to this section
5.5. The initial Board of Directors of Reorganized Motient shall serve until the
first annual meeting of the holders of the New Motient Common Stock. Thereafter,
the Board of Directors of Reorganized Motient will be elected in accordance with
the Amended Certificate of Incorporation and Amended Bylaws and applicable
nonbankruptcy law.

(b) The Board of Directors or other internal governing body, as applicable, of
each Reorganized Debtor other than Reorganized Motient shall continue as in
effect immediately prior to the Effective Date until removed or replaced
pursuant to applicable law or in accordance with such Reorganized Debtor's
corporate governance procedures.

(c) On the Effective Date, the officers of the Reorganized Debtors shall be
those officers in office immediately prior to the Effective Date.

5.7.          Corporate Action.

(a) Reorganized Motient shall pay all fees incurred pursuant to 28 U.S.C. ss.
1930(a)(6) and (to the extent required) file with the Bankruptcy Court and serve

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on the United States Trustee monthly financial reports until such time as a
final decree is entered closing these Reorganization Cases or the Reorganization
Cases are converted or dismissed, or the Bankruptcy Court orders otherwise.

(b) On the Effective Date, Reorganized Motient shall file the Amended
Certificate of Incorporation and an amended certificate of incorporation or
other appropriate organization documents for each of the Reorganized Debtors
(other than Reorganized Motient) with the applicable Secretary of State. Such
amended certificates of incorporation shall prohibit the issuance of nonvoting
equity securities, as required by sections 1123(a) and (b) of the Bankruptcy
Code, subject to further amendment as permitted by applicable law. The Amended
Bylaws shall be deemed adopted by the Board of Directors of Reorganized Motient
as of the Effective Date.

5.8.          Authorization and Issuance of Plan Securities.

                  On the Effective Date, Reorganized Motient is authorized to
issue the Plan Securities and the Old Motient Equity Warrants without the need
for any further corporate action. On the Effective Date, Motient (or the
Disbursing Agent) shall issue and deliver the Plan Securities and the Old
Motient Equity Warrants to the appropriate parties. To the extent that any Plan
Securities or Old Motient Equity Warrants may not be distributed until the
determination of the allowance of Claims, Motient (or the Disbursing Agent)
shall retain those Plan Securities and Motient Old Equity Warrants in escrow
until such time as they may be distributed pursuant to the terms of this Plan.

5.9.          Change of Control Agreements.

                  On the Effective Date, Reorganized Motient shall execute

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and deliver the Change of Control Agreements to those Persons who are entitled
to receive them.

5.10.         Retention Bonuses.

                  On the Effective Date, Reorganized Motient will pay the
Retention Bonuses.

5.11.         Registration Rights Agreement.

                  On the Effective Date, Reorganized Motient shall execute and
deliver the Registration Rights Agreement to those Persons who are entitled to
receive them.

5.12.         Issuance of New Equity in Holdings, Communications and Services.

                  In exchange for the issuance of Creditor Plan Securities to
Senior Note Claims and Allowed Other Unsecured Claims against Holdings,
Communications and Services, Holdings, Communications and Services will issue on
the Effective Date new common stock as follows: (a) Holdings will issue 100% of
its common stock to Motient, (b) Communications will issue 100% of its common
stock to Holdings, and (c) Services will issue 100% of its common stock to
Holdings.

5.13.         Corporate Mergers and Consolidations.

                  Subsequent to the Effective Date but prior to date upon which
these Cases are closed, the Board of Reorganized Motient may merge or
consolidate any of the Subsidiary Debtors together or into Reorganized Motient
and any such actions shall not require the approval of the stockholders of any
of the Reorganized Debtors. If any of the Reorganized Debtors are merged or
consolidated pursuant to this provision, they shall file Certificates

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<Page>

of Merger or Consolidation with the applicable Secretary of State in order to
consummate the merger or consolidation.

5.14.         Newco.

                  On or as soon as reasonably practicable after the Effective
Date, Motient shall cause Newco to be established as a wholly owned subsidiary
of Motient and shall transfer to Newco all of Motient's equity interest in
Ventures. As soon as reasonably practicable thereafter, Newco shall issue to
each holder of an Allowed Senior Indebtedness Claim a Senior Indebtedness Note
for the Allowed amount of the Motient Senior Indebtedness Claim.

SECTION 6.        DISTRIBUTIONS

6.1.          Distribution Record Date.

                  As of the close of business on the Distribution Record Date,
the various transfer and claims registers for each of the Classes of Claims or
Equity Interests as maintained by the Debtors, their respective agents, or the
Indenture Trustees shall be deemed closed, and there shall be no further changes
in the record holders of any of the Claims or Equity Interests. The Debtors
shall have no obligation to recognize any transfer of the Claims or Equity
Interests occurring after the close of business on the Distribution Record Date.
The Debtors and the Indenture Trustees shall be entitled to recognize and deal
for all purposes hereunder only with those record holders stated on the transfer
ledgers as of the close of business on the Distribution Record Date, to the
extent applicable.

6.2.          Date of Distributions.

                  Unless otherwise provided herein, any distributions

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<Page>

and deliveries to be made hereunder shall be made on the Effective Date or as
soon thereafter as is practicable. In the event that any payment or act under
the Plan is required to be made or performed on a date that is not a Business
Day, then the making of such payment or the performance of such act may be
completed on or as soon as reasonably practicable after the next succeeding
Business Day, but shall be deemed to have been completed as of the required
date.

6.3.          Satisfaction of Claims.

                  Unless otherwise provided herein, any distributions and
deliveries to be made on account of Allowed Claims hereunder shall be in
complete settlement, satisfaction and discharge of such Allowed Claims.

6.4.          Disbursing Agent.

                  All distributions under the Plan initially shall be made by
the Disbursing Agent on or after the Effective Date as provided herein. The
Disbursing Agent shall not be required to give any bond or surety or other
security for the performance of its duties unless otherwise ordered by the
Bankruptcy Court; and, in the event that the Disbursing Agent is so otherwise
ordered, all costs and expenses of procuring any such bond or surety shall be
borne by the Reorganized Debtors.

6.5.          Rights and Powers of Disbursing Agent.

(a) Powers of the Disbursing Agent. The Disbursing Agent shall be empowered to
(i) effect all actions and execute all agreements, instruments, and other
documents necessary to perform its duties under the Plan, (ii) make all
distributions contemplated hereby, (iii) employ professionals to represent it

                                    Page 44
<Page>

with respect to its responsibilities, and (iv) exercise such other powers as may
be vested in the Disbursing Agent by order of the Bankruptcy Court, pursuant to
the Plan, or as deemed by the Disbursing Agent to be necessary and proper to
implement the provisions hereof.

(b) Expenses Incurred on or After the Effective Date. Except as otherwise
ordered by the Bankruptcy Court, the amount of any reasonable fees and expenses
incurred by the Disbursing Agent on or after the Effective Date (including,
without limitation, taxes) and any reasonable compensation and expense
reimbursement claims (including, without limitation, reasonable attorney and
other professional fees and expenses) made by the Disbursing Agent shall be paid
in Cash by the Reorganized Debtors.

6.6.          Surrender of Instruments.

                  Except as provided in Section 6.8 hereof in regard to the
Senior Notes, as a condition to receiving any distribution under the Plan, each
holder of a Claim or Equity Interest represented by an instrument, including
notes and certificates, must surrender such instrument held by it to the
Disbursing Agent or its designee accompanied by a letter of transmittal
substantially in the form set forth in the Plan Supplement. Any holder that
fails to (i) surrender such instrument or (ii) execute and deliver an affidavit
of loss and/or indemnity reasonably satisfactory to the Disbursing Agent and
furnish a bond in form, substance, and amount reasonably satisfactory to the
Disbursing Agent before the first anniversary of the Effective Date shall be
deemed to have forfeited all rights and Claims and may not participate in any
distribution under the Plan in respect of such Claim. Any distribution so
forfeited shall become the sole and exclusive property of Reorganized

                                    Page 45
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Motient.

6.7.          Delivery of Distributions.

                  Except as provided in Section 6.8 hereof in regard to the
Senior Notes, subject to Bankruptcy Rule 9010, unless otherwise provided herein,
all distributions to any holder of an Allowed Claim or Equity Interest, shall be
made at the address of such holder as set forth on the Schedules filed with the
Bankruptcy Court or on the books and records of the Debtors or their agents,
unless the Debtors have been notified, in advance, in writing of a change of
address, including, without limitation, by the filing of a proof of claim or
interest by such holder that contains an address for such holder different from
the address reflected on such Schedules for such holder. In the event that any
distribution to any holder is returned as undeliverable, no distribution to such
holder shall be made unless and until the Disbursing Agent has been notified of
the then current address of such holder, at which time or as soon as reasonably
practicable thereafter such distribution shall be made to such holder without
interest; provided, that, such distributions shall be deemed unclaimed property
under section 347(b) of the Bankruptcy Code at the expiration of one (1) year
from the later of (i) the Effective Date and (ii) the date such holder's Claim
is Allowed. After such date, all unclaimed property or interest in property
shall revert to Reorganized Motient, and the Claim or Equity Interest of any
other holder to such property or interest in property shall be discharged and
forever barred. The Reorganized Debtors and the Disbursing Agent shall have no
obligation to attempt to locate any holder of an Allowed Claim or Equity
Interest other than by reviewing their books and records (including any proofs
of claim filed against the Debtors).

                                    Page 46
<Page>

6.8.          Distribution of Creditor Plan Securities.

                  All distributions of Creditor Plan Securities made under the
Plan in respect to the Senior Notes will be made to the Indenture Trustee,
which, in turn, will distribute such property pursuant to the Senior Note
Indenture. Without limiting the generality of the foregoing, all such property
shall be applied by the Indenture Trustee, first, in respect to amounts due to
the Indenture Trustee, together with its agents and attorneys, including
reasonable fees and expenses and costs and expenses of collection, including,
but not limited to, reasonable attorneys' fees (unless otherwise paid by the
Debtors); and, second, pro rata to the record holders of the Senior Notes. As a
condition of receiving any distribution as provided herein, each holder of the
Senior Notes must surrender any instruments or certificates representing or
evidencing such Senior Notes held by each such holder to the Indenture Trustee
accompanied by a letter of transmittal substantially in the form set forth in
the Plan Supplement. The Indenture Trustee will cancel and destroy each such
instrument or certificate, and then promptly certify to the Debtors the
destruction of each such instrument or certificate in accordance with the terms
of the Senior Note Indenture. Any holder that fails to (a) surrender such
instrument or certificate, or (b) execute and deliver an affidavit of loss
and/or indemnity reasonably satisfactory to the Indenture Trustee and furnish a
bond in form, substance, and amount reasonably satisfactory to the Indenture
Trustee before the first anniversary of the Effective Date will be deemed to
have forfeited all rights and Claims and may not participate in any distribution

                                    Page 47
<Page>

under the Plan in respect of such Claims. Any distribution so forfeited will
become the sole and exclusive property of Reorganized Motient.

                  Following distribution by the Indenture Trustee of the
Creditor Plan Securities received in accordance with the Plan pursuant to the
Senior Note Indenture, and following the cancellation and certification of the
destruction of the instruments or certificates as provided above, the Indenture
Trustee and its agents will be relieved of, and released from, all obligations
associated with the Senior Notes arising under the Senior Note Indenture or
under other applicable agreements or law and the Senior Note Indenture will be
deemed to be discharged.

                  On the Effective Date, or as soon thereafter as is
practicable, the Debtors will pay, in cash, the amounts due, pursuant to the
Senior Note Indenture, both pre- and post-petition, to the Indenture Trustee,
together with its agents and attorneys, including reasonable fees and expenses
and costs and expenses of collection, including, but not limited to, reasonable
attorneys' fees. It is anticipated that such fees will be approximately
$50,000.00.

6.9.          Manner of Payment Under Plan of Reorganization.

                  Except as specifically provided herein, at the option of the
Debtors, any Cash payment to be made hereunder may be made by a check or wire
transfer or as otherwise required or provided in applicable agreements.

6.10.         Fractional Shares and Fractional Warrants.

                  No fractional shares of New Motient Common Stock or fractional
Old Motient Equity Warrants. For purposes of distribution, fractional shares of

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<Page>

New Motient Common Stock or fractional Old Motient Equity Warrants shall be
rounded down to the next whole number or zero, as applicable. Neither the
Debtors, the Reorganized Debtors nor the Disbursing Agent shall have any
obligation to make a distribution that is less than one (1) Old Motient Equity
Warrant or one (1) share of New Motient Common Stock. Fractional shares or New
Warrants that are not distributed in accordance with the Plan shall be returned
to Reorganized Motient and cancelled.

6.11.         Exemption from Securities Laws.

                  The issuance of the Plan Securities and the Old Motient Equity
Warrants pursuant to the Plan shall be exempt from any securities laws
registration requirements to the fullest extent permitted by section 1145 of the
Bankruptcy Code.

6.12.         Compromise of Controversies.

                  Pursuant to Bankruptcy Rule 9019, and in consideration for the
classification, distribution and other benefits provided under the Plan, the
provisions of this Plan shall constitute a good faith compromise and settlement
of all Claims and controversies resolved pursuant to the Plan, including,
without limitation, all Claims arising prior to the Commencement Date, whether
known or unknown, foreseen or unforeseen, asserted or unasserted, arising out
of, relating to or in connection with the business or affairs of or transactions
with the Debtors. The entry of the Confirmation Order shall constitute the
Bankruptcy Court's approval of each of the foregoing compromises or settlements,
and all other compromises and settlements provided for in the Plan of
Reorganization, and the Bankruptcy Court's findings shall constitute its
determination that such compromises and settlements are in the best interests of

                                    Page 49
<Page>

the Debtors, the Estates, creditors and other parties in interest, and are fair,
equitable and within the range of reasonableness.

SECTION 7.        PROCEDURES FOR DISPUTED CLAIMS

7.1.          Objections to Claims.

                  Other than with respect to Fee Claims and the Rare Medium
Claim, only the Reorganized Debtors shall be entitled to object to Claims.
Unless otherwise extended by the Court, any objections to such Claims shall be
served and filed on or before the later of: (i) one hundred twenty (120) days
after the Effective Date; (ii) thirty (30) days after a request for payment or
proof of Claim is timely filed and properly served upon the Debtors; or (iii)
such other date as may be fixed by the Bankruptcy Court, whether fixed before or
after the date specified in clause (i), hereof. Notwithstanding any authority to
the contrary, an objection to a Claim shall be deemed properly served on the
claimant if the Debtors or the Reorganized Debtors effect service in any of the
following manners: (a) in accordance with Federal Rule of Civil Procedure 4, as
modified and made applicable by Bankruptcy Rule 7004; (b) to the extent counsel
for a claimant is unknown, by first class mail, postage prepaid, on the
signatory on the proof of claim or other representative identified in the proof
of claim or any attachment thereto; or (c) by first class mail, postage prepaid,
on any counsel that has appeared on the claimant's behalf in the Reorganization
Cases.

7.2.          Payments and Distributions with Respect to Disputed Claims.

(a) General. Notwithstanding any other provision hereof, if any portion of a
Claim (other than a Fee Claim) is a Disputed Claim, no payment or distribution

                                    Page 50
<Page>

provided hereunder shall be made on account of such Claim unless and until such
Disputed Claim becomes an Allowed Claim.

(b) ADR Procedures. Any Claim as to which a proof of claim was timely filed in
the Reorganization Cases shall be determined and liquidated in accordance with
the ADR Procedures. Any Claim determined and liquidated pursuant to (i) the ADR
Procedures, (ii) an Order of the Bankruptcy Court, or (iii) applicable
nonbankruptcy law, which determination shall no longer be appealable or subject
to review, shall be deemed, to the extent applicable and subject to any
provision in the ADR Procedures to the contrary, an Allowed Claim in such
liquidated amount and satisfied in accordance with the Plan (provided, that, to
the extent a Claim is an Allowed Insured Claim, such Allowed Claim shall be paid
from the insurance proceeds available to satisfy such liquidated amount).
Nothing contained in this section 7.2 shall constitute or be deemed a waiver of
any Claim, right, or cause of action that the Debtors may have against any
person in connection with or arising out of any Claim, including, without
limitation, any rights under section 157(b) of title 28 of the United States
Code.

7.3.          Preservation of Insurance.

                  The discharge and release of the Debtors as provided in this
Plan shall not diminish or impair the enforceability of any insurance policies
that may cover Claims against any Debtor or other Person.

7.4.          Distributions After Allowance.

                  After such time as a Disputed Claim becomes, in whole or in
part, an Allowed Claim, the Disbursing Agent shall distribute to the holder

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<Page>

thereof the distributions, if any, to which such holder is then entitled under
the Plan in accordance with the provisions hereof.

7.5.          No Recourse.

                  Notwithstanding that the allowed amount of any particular
Disputed Claim is reconsidered under the applicable provisions of the Bankruptcy
Code and Bankruptcy Rules or is allowed in an amount for which after application
of the payment priorities established by this Plan there is insufficient value
to provide a recovery equal to that received by other holders of Allowed Claims
in the respective Class, no Claim holder shall have recourse against the
Disbursing Agent, the Debtors, the Creditors' Committee, the Reorganized
Debtors, the Informal Committee or any of their respective professional
consultants, attorneys, advisors, officers, directors or members or their
successors or assigns, or any of their respective property. However, nothing in
the Plan shall modify any right of a holder of a Claim under section 502(j) of
the Bankruptcy Code.

SECTION 8.        EXECUTORY CONTRACTS AND UNEXPIRED LEASES

8.1.          General Treatment.

                  All executory contracts and unexpired leases to which any of
the Debtors are a party are hereby assumed by the respective Debtors that are
parties to such executory contracts and unexpired leases, except for any
executory contracts or unexpired leases that (i) have been assumed or rejected
pursuant to Final Order of the Bankruptcy Court, (ii) are designated,
specifically or by category, as a contract or lease to be rejected on the
Schedule of Rejected Contracts and Leases included in the Plan Supplement, as
such Schedule of Rejected Contracts and Leases may be amended from time

                                    Page 52
<Page>

to time whether prior to or after the Effective Date to include additional
contracts and agreements, or (iii) are the subject of a separate motion to
assume or reject filed under section 365 of the Bankruptcy Code by the Debtors
filed prior to the Effective Date. For purposes hereof, each executory contract
and unexpired lease that relates to the use or occupancy of real property,
whether (i) listed on the Schedule of Rejected Contracts and Leases, (ii)
previously assumed or rejected pursuant to Final Order of the Bankruptcy Court,
or (iii) assumed herein, shall include (a) modifications, amendments,
supplements, restatements, or other agreements made directly or indirectly by
any agreement, instrument, or other document that in any manner affects such
executory contract or unexpired lease, and (b) executory contracts or unexpired
leases appurtenant to the premises, excluding any non-competition and like
agreements but including all easements, licenses, permits, rights, privileges,
immunities, options, rights of first refusal, powers, uses, usufructs,
reciprocal easement agreements, vault, tunnel or bridge agreements or
franchises, and any other interests in real estate or rights in rem relating to
such premises to the extent any of the foregoing are executory contracts or
unexpired leases, unless any of the foregoing agreements are otherwise
specifically assumed or rejected. The assumption of executory contracts and
unexpired leases shall also include the affirmation of any guarantees or
indemnification provided in regard to any such executory contract or unexpired
lease by any other Debtor.

8.2.          Cure of Defaults.

                  Except to the extent that different treatment has been agreed
to by the non-debtor party or parties to any executory contract or unexpired

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lease to be assumed, the amount necessary to cure each executory contract and
unexpired lease to be assumed hereunder (pursuant to sections 1123(a)(5)(G) and
1123(b)(2) of the Bankruptcy Code and consistent with the requirements of
section 365 of the Bankruptcy Code), shall each be deemed to be $0.00 unless the
non-debtor party to any such executory contract or unexpired lease, within 30
days after the Effective Date, files a pleading with the Bankruptcy Court, and
serves such pleading on the Reorganized Debtors, asserting a different cure
amount on account of any such executory contract or unexpired lease to be
assumed. The Reorganized Debtors will have 15 days from the date of service to
object to the cure amount asserted by any such party. If an objection is filed
with respect to an executory contract or unexpired lease, the Bankruptcy Court
will hold a hearing to determine the amount of the disputed cure amount.
Notwithstanding the foregoing, at all times through the date that is 5 Business
Days after the Bankruptcy Court enters an order resolving and fixing the amount
of a disputed cure amount, the Debtors will have the right to reject that
executory contract or unexpired lease.

8.3.          Rejection Claims.

                  Except as otherwise ordered by the Bankruptcy Court, in the
event that the rejection of an executory contract or unexpired lease by any of
the Debtors pursuant to the Plan results in damages to the other party or
parties to such contract or lease, a Claim for such damages shall be forever
barred and shall not be enforceable against the Debtors, or their respective
properties or interests in property as agents, successors, or assigns, unless a
proof of claim has been filed with the Bankruptcy Court or its designee

                                    Page 54
<Page>

and served upon counsel for the Debtors on or before thirty (30) days after the
Effective Date.

8.4.          Survival of the Debtors' Corporate Indemnities.

                  Any obligation of one or more of the Debtors, pursuant to
their corporate charters and bylaws or agreements entered into any time prior to
the Commencement Date, to indemnify a Representative with respect to all present
and future actions, suits, and proceedings against a Debtor or a Representative,
based upon any act or omission for or on behalf of a Debtor shall not be
discharged or impaired by confirmation or consummation of the Plan. Such
obligations shall be deemed and treated as executory contracts to be assumed by
the respective Debtor pursuant to the Plan, and shall continue as obligations of
the respective Reorganized Debtor.

SECTION 9.        CONDITIONS PRECEDENT TO THE EFFECTIVE DATE

9.1.          Conditions Precedent.

                  The occurrence of the Effective Date is subject to:

(a) the Confirmation Order becoming a Final Order;

(b)  the  Plan  Documents  to be  entered  into  (rather  than  assumed)  by the
Reorganized Debtors being executed and delivered; and

(c) The Federal  Communications  Commission approving the change of control that
will take place in the ownership of Motient upon the Effective Date.

9.2.          Waiver of Conditions Precedent.

(a) The Debtors shall have the right to waive the condition set forth in section
9.1(a) at any time without leave of or notice to the Bankruptcy Court and
without any formal action other than proceeding with consummation of

                                    Page 55
<Page>

the Plan. Further, the stay of the Confirmation Order, pursuant to Bankruptcy
Rule 3020(e) shall be deemed waived by entry of the Confirmation Order.

(b) If the Debtors perform such a waiver and consummation, the Debtors' waiver
of this condition will benefit from the "mootness doctrine," and the act of
consummation of the Plan will foreclose any ability to challenge the Plan in
court. The failure to satisfy or waive a condition may be asserted by the
Debtors regardless of the circumstances that give rise to the failure of the
condition to be satisfied (including, without limitation, any act, action,
failure to act, or inaction by the Debtors). The failure of the Debtors to
assert the non-satisfaction of any conditions will not be deemed a waiver of any
other rights under the Plan, and each such right will be deemed an ongoing right
that may be asserted or waived at any time or from time to time.

SECTION 10.       EFFECT OF CONFIRMATION

10.1.         Vesting of Assets.

                  On the Effective Date, pursuant to sections 1141(b) and (c) of
the Bankruptcy Code, except for leases and executory contracts that have not yet
been assumed or rejected (which leases and contracts shall be deemed vested when
and if assumed), all property of the Estates shall vest in one or more of the
Reorganized Debtors free and clear of all Claims, liens, encumbrances, charges,
and other interests, except as provided herein. Except as may otherwise be
ordered by the Bankruptcy Court, the Debtors shall have the right to cause any
property of any Estate to vest in the Reorganized Debtor designated for such
purpose by the Debtors. The Reorganized Debtors may operate their businesses and
may use, acquire, and dispose of property free of any restrictions of

                                    Page 56
<Page>

the Bankruptcy Code or the Bankruptcy Rules and in all respects as if there were
no pending cases under any chapter or provision of the Bankruptcy Code, except
as provided herein.

10.2.         Discharge of Claims and Termination of Equity Interests.

                  Except as otherwise provided herein or in the Confirmation
Order, the rights afforded in the Plan and the payments and distributions to be
made hereunder shall discharge all existing debts and Claims, and terminate all
Equity Interests of any kind, nature, or description whatsoever against or in
the Debtors or any of their assets or properties to the fullest extent permitted
by section 1141 of the Bankruptcy Code. Except as otherwise provided herein or
in the Confirmation Order, upon the Effective Date, all existing Claims against
the Debtors and Equity Interests in the Debtors, shall be, and shall be deemed
to be, discharged and terminated, and all holders of Claims and Equity Interests
shall be precluded and enjoined from asserting against the Reorganized Debtors,
or any of their assets or properties, any other or further Claim or Equity
Interest based upon any act or omission, transaction, or other activity of any
kind or nature that occurred prior to the Effective Date, whether or not such
holder has filed a proof of claim or proof of equity interest.

10.3.         Discharge of Debtors.

                  Upon the Effective Date and in consideration of the
distributions to be made hereunder, except as otherwise provided herein, each
holder (as well as any trustees and agents on behalf of each holder) of a Claim
or Equity Interest and any affiliate of such holder shall be deemed to have
forever waived, released, and discharged the Debtors, to the fullest extent

                                    Page 57
<Page>

permitted by section 1141 of the Bankruptcy Code, of and from any and all
Claims, Equity Interests, rights, and liabilities that arose prior to the
Effective Date. Upon the Effective Date, all such persons shall be forever
precluded and enjoined, pursuant to sections 105, 524, 1141 of the Bankruptcy
Code, from prosecuting or asserting any such discharged Claim against or
terminated Equity Interest in the Debtors or Reorganized Debtors.

10.4.         Term of Injunctions or Stays.

                  Unless otherwise provided herein or in the Plan Documents, all
injunctions or stays arising prior to the Confirmation Date in accordance with
section 105 or 362 of the Bankruptcy Code, or otherwise, and in existence on the
Confirmation Date, shall remain in full force and effect until the Effective
Date.

10.5.         Injunction Against Interference With Plan.

                  Upon the entry of the Confirmation Order, all holders of
Claims and Equity Interests and other parties in interest, along with their
respective present or former affiliates, employees, agents, officers, directors,
or principals, shall be enjoined from taking any actions to interfere with the
implementation or consummation of the Plan of Reorganization.

10.6.         Exculpation.

                  Except with respect to obligations under the Plan and/or the
Plan Documents, neither the Debtors, the Disbursing Agent, the Indenture Trustee
and its affiliates, the Creditors' Committee, the Informal Committee, nor any of
their respective members, officers, directors, employees, agents, or
professionals, solely in their capacity as such, shall have or incur any
liability to any holder of any Claim or Equity Interest for any act or

                                    Page 58
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omission in connection with, or arising out of, the Reorganization Cases, the
confirmation of the Plan of Reorganization, the consummation of the Plan of
Reorganization, or the administration of the Plan of Reorganization or property
to be distributed pursuant to the Plan of Reorganization, except for willful
misconduct, recklessness or gross negligence.

10.7.         Release of Claims.

                  As of the Effective Date, each Debtor, Reorganized Debtor and
Estate hereby waives, releases and discharges its Representatives and, effective
as of the discharge of the Senior Note Indenture, the Indenture Trustee and its
affiliates, from any Claim arising from the beginning of time through the
Confirmation Date related to his or her acts or omissions to act (including, but
not limited to, any Claims arising out of any alleged fiduciary or other duty).
To the full extent permitted by applicable law, each holder of a Claim (whether
or not Allowed) against or Equity Interest in a Debtor shall be enjoined from
commencing or continuing any action, employment of process or act to collect,
offset or recover and shall be deemed to release any Claim against a
Representative and the Indenture Trustee and its affiliates arising from the
beginning of time through the Confirmation Date related to such Representative's
and such Indenture Trustee's and its affiliates' acts or omissions to act
(including, but not limited to, any claims arising out of any alleged fiduciary
or other duty).

10.8.         Injunction.

                  Except as otherwise provided in the Plan or the Confirmation
Order, as of the Confirmation Date, but subject to the occurrence of the
Effective Date, all Persons who have held, hold or may hold Claims

                                    Page 59
<Page>

against or Equity Interests in any of the Debtors or the Estates are, with
respect to any such Claims or Interests, permanently enjoined from and after the
Confirmation Date from: (i) commencing, conducting or continuing in any manner,
directly or indirectly, any suit, action or other proceeding of any kind
(including, without limitation, any proceeding in a judicial, arbitral,
administrative or other forum) against or affecting the Debtors, the Estates or
the Reorganized Debtors or any of their property, or any direct or indirect
transferee of any property of, or direct or indirect successor in interest to,
any of the foregoing Persons, or any property of any such transferee or
successor; (ii) enforcing, levying, attaching (including, without limitation,
any pre-judgment attachment), collecting or otherwise recovering by any manner
or means, whether directly or indirectly, of any judgment, award, decree or
order against the Debtors, the Estates or the Reorganized Debtors or any of
their property, or any direct or indirect transferee of any property of, or
direct or indirect successor in interest to, any of the foregoing Persons, or
any property of any such transferee or successor; (iii) creating, perfecting or
otherwise enforcing in any manner, directly or indirectly, any encumbrance of
any kind against the Debtors, the Estates or the Reorganized Debtors or any of
their property, or any direct or indirect transferee of any property of, or
successor in interest to, any of the foregoing Persons; (iv) asserting any right
of setoff, subrogation, or recoupment of any kind, directly or indirectly,
against any obligation due the Debtors, the Estates or the Reorganized Debtors,
any of their property, or any direct or indirect transferee of any property of,
or successor in interest to, any of the foregoing Persons; and (v) acting or
proceeding in any manner, in

                                    Page 60
<Page>

any place whatsoever, that does not conform to or comply with the provisions of
the Plan to the full extent permitted by applicable law. Nothing in this Plan
should be construed to preclude the United States from pursuing any regulatory
or police action against any Debtor, Reorganized Debtor, or any other party to
the extent not prohibited by the automatic stay of section 362 of the Bankruptcy
Code or discharged or enjoined pursuant to Sections 524 or 1141(d) of the
Bankruptcy Code or other applicable law.

10.9.         Retention of Causes of Action/Reservation of Rights.

(a) Except as specifically provided herein, nothing contained in the Plan or the
Confirmation Order shall be deemed to be a waiver or the relinquishment of any
rights, Claims, or causes of action that the Debtors, the Estates or the
Reorganized Debtors may have or which the Reorganized Debtors may choose to
assert on behalf of the Estates in accordance with any provision of the
Bankruptcy Code or any applicable nonbankruptcy law, including, without
limitation, (i) any and all Claims against any person or entity, to the extent
such person or entity asserts a crossclaim, counterclaim, and/or Claim for
setoff which seeks affirmative relief against the Debtors, the Reorganized
Debtors, their officers, directors, or representatives, (ii) the avoidance of
any transfer by or obligation of the Estates or the Debtors or the recovery of
the value of such transfer including without limitation any claims against Rare
Medium, or (iii) the turnover of any property of the Estates. All such rights,
Claims and causes of action are retained by the Debtors, their Estates and the
Reorganized Debtors for enforcement.

(b) Nothing contained in the Plan or the Confirmation Order shall be deemed to

                                    Page 61
<Page>

be a waiver or relinquishment of any claim, cause of action, right of setoff, or
other legal or equitable defense that the Debtors had immediately prior to the
Commencement Date, against or with respect to any Claim left unimpaired by the
Plan. The Reorganized Debtors shall have, retain, reserve, and be entitled to
assert all such claims, causes of action, rights of setoff, or other legal or
equitable defenses which they or any of them had immediately prior to the
Commencement Date fully as if the Reorganization Cases had not been commenced,
and all legal and/or equitable rights of any Reorganized Debtor respecting any
Claim left unimpaired by the Plan of Reorganization may be asserted after the
Confirmation Date to the same extent as if the Reorganization Cases had not been
commenced.

SECTION 11.       RETENTION OF JURISDICTION

                  On and after the Effective Date, the Bankruptcy Court shall
retain jurisdiction over all matters arising in, arising under, or related to
the Reorganization Cases for, among other things, the following purposes:

(a) To hear and determine applications for the assumption or rejection of
executory contracts or unexpired leases and the allowance of Claims resulting
therefrom.

(b) To determine any motion, adversary proceeding, avoidance action,
application, contested matter, and other litigated matter pending on or
commenced after the Confirmation Date, including without limitation, any claim
or cause of action asserted against Rare Medium.

(c) To ensure that  distributions  to holders of Allowed Claims are accomplished
as provided herein.

                                    Page 62
<Page>

(d) To consider Claims or the allowance, classification, priority, compromise,
estimation, or payment of any Claim, Administrative Expense Claim, or Equity
Interest.

(e) To enter, implement, or enforce such orders as may be appropriate in the
event the Confirmation Order is for any reason stayed, reversed, revoked,
modified, or vacated.

(f) To issue injunctions, enter and implement other orders, and take such other
actions as may be necessary or appropriate to restrain interference by any
person with the consummation, implementation, or enforcement of the Plan of
Reorganization, the Confirmation Order, or any other order of the Bankruptcy
Court.

(g) To hear and determine any application to modify the Plan in accordance with
section 1127 of the Bankruptcy Code, to remedy any defect or omission or
reconcile any inconsistency in the Plan, the Disclosure Statement, or any order
of the Bankruptcy Court, including the Confirmation Order, in such a manner as
may be necessary to carry out the purposes and effects thereof.

(h) To hear and determine all Fee Claims.

(i) To hear and determine disputes arising in connection with the
interpretation, implementation, or enforcement of the Plan, the Confirmation
Order, any transactions or payments contemplated hereby, or any agreement,
instrument, or other document governing or relating to any of the foregoing.

(j) To take any action and issue such orders as may be necessary to construe,
enforce, implement, execute, and consummate the Plan, including any release or
injunction provisions set forth herein, or to maintain the integrity of the Plan

                                    Page 63
<Page>

following consummation.

(k) To  determine  such  other  matters  and for such other  purposes  as may be
provided in the Confirmation Order.

(l) To hear and determine matters concerning state, local, and federal taxes in
accordance with sections 346, 505, and 1146 of the Bankruptcy Code.

(m) To hear and determine any other matters related hereto and not inconsistent
with the Bankruptcy Code and title 28 of the United States Code.

(n) To enter a final decree closing the Reorganization Cases.

(o) To recover all assets of the Debtors and property of the  Estates,  wherever
located.

SECTION 12.       MISCELLANEOUS PROVISIONS

12.1.         Exemption from Certain Transfer Taxes.

                  To the fullest extent permitted by applicable law, any
transfer or encumbrance of assets or any portion(s) of assets pursuant to, in
furtherance of, or in connection with the Plan shall constitute a "transfer
under a plan" within the purview of section 1146(c) of the Bankruptcy Code and
shall not be subject to transfer, stamp or similar taxes.

12.2.         Essential Trade Creditor and Other Payments.

                  Notwithstanding the contents of the Schedules, Claims listed
therein as undisputed, liquidated and not contingent shall be reduced by the
amount, if any, that was paid by one or more of the Debtors pursuant to orders
of the Bankruptcy Court, including, but not limited to, that certain Order
Pursuant to Sections 363(b) and 105(a) of the Bankruptcy Code Authorizing
Payment of Prepetition Trade Claims of Essential Trade Creditors and Granting

                                     Page 64
<Page>

Related Relief, dated January 11, 2002. To the extent such payments are not
reflected in the Schedules, such Schedules are hereby amended and reduced to
reflect that such payments were made. Nothing in this Plan shall preclude the
Reorganized Debtors from paying Claims that the Debtors were authorized to pay
pursuant to any Final Order entered by the Bankruptcy Court prior to the
Confirmation Date.

12.3.         Dissolution of Creditors' Committee.

                  The Creditors' Committee shall dissolve on the later of (i)
the Effective Date, or (ii) the conclusion of any litigation by or on behalf of
the Estates (including, without limitation, claims objections or avoidance
actions) against Rare Medium.

12.4.         Substantial Consummation.

                  On the Effective Date, the Plan shall be deemed to be
substantially consummated pursuant to sections 1101 and 1127(b) of the
Bankruptcy Code.

12.5.         Amendments.

(a) Plan of Reorganization Modifications. The Plan of Reorganization may be
amended, modified, or supplemented by the Debtors or the Reorganized Debtors in
the manner provided for by section 1127 of the Bankruptcy Code or as otherwise
permitted by law without additional disclosure pursuant to section 1125 of the
Bankruptcy Code, except as the Bankruptcy Court may otherwise direct. In
addition, after the Confirmation Date, so long as such action does not
materially and adversely affect the treatment of holders of Claims or Equity
Interests pursuant to the Plan, the Debtors may institute proceedings in the
Bankruptcy Court to remedy any defect or omission or reconcile any
inconsistencies in the Plan of Reorganization or the Confirmation Order,

                                     Page 65
<Page>

with respect to such matters as may be necessary to carry out the purposes and
effects of the Plan.

(b) Other Amendments. Prior to the Effective Date, the Debtors may make
appropriate technical adjustments and modifications to the Plan without further
order or approval of the Bankruptcy Court, provided that such technical
adjustments and modifications do not adversely affect in a material way the
treatment of holders of Claims or Equity Interests.

12.6.         Revocation or Withdrawal of the Plan.

                  The Debtors reserve the right to revoke or withdraw the Plan
prior to the Effective Date. If the Debtors take such action, the Plan of
Reorganization shall be deemed null and void.

12.7.         Cramdown.

                  In the event a Class votes against the Plan, and the Plan is
not withdrawn as provided above, the Debtors reserve the right to effect a "cram
down" of the Plan pursuant to section 1129(b) of the Bankruptcy Code. To the
extent any Class is deemed to reject the Plan by virtue of the treatment
provided to such Class, the Plan shall be "crammed down" on the claimants within
such Class pursuant to section 1129(b) of the Bankruptcy Code.

12.8.         Confirmation Order.

                  The Confirmation Order shall, and is hereby deemed to, ratify
all transactions effected by the Debtors during the period commencing on the
Commencement Date and ending on the Confirmation Date except for any acts
constituting willful misconduct, gross negligence, recklessness or fraud.

                                     Page 66
<Page>

12.9.         Severability.

                  If, prior to the entry of the Confirmation Order, any term or
provision of the Plan is held by the Bankruptcy Court to be invalid, void, or
unenforceable, the Bankruptcy Court, at the request of the Debtors, shall have
the power to alter and interpret such term or provision to make it valid or
enforceable to the maximum extent practicable, consistent with the original
purpose of the term or provision held to be invalid, void, or unenforceable, and
such term or provision shall then be applicable as altered or interpreted.
Notwithstanding any such holding, alteration, or interpretation, the remainder
of the terms and provisions of the Plan will remain in full force and effect and
will in no way be affected, impaired, or invalidated by such holding,
alteration, or interpretation. The Confirmation Order shall constitute a
judicial determination and shall provide that each term and provision of the
Plan, as it may have been altered or interpreted in accordance with the
foregoing, is valid and enforceable pursuant to its terms.

12.10.        Governing Law.

                  Except to the extent that the Bankruptcy Code or other federal
law is applicable, or to the extent an Exhibit hereto or a Plan Document
provides otherwise, the rights, duties, and obligations arising under the Plan
and the Plan Documents shall be governed by, and construed and enforced in
accordance with, the laws of the State of New York, without giving effect to the
principles of conflict of laws thereof.

12.11.        Time.

                  In computing any period of time prescribed or allowed by the
Plan, unless otherwise set forth herein or determined by the Bankruptcy

                                     Page 67
<Page>

Court, the provisions of Bankruptcy Rule 9006 shall apply.

12.12.        Notices.

                  All notices, requests, and demands to or upon the Debtors or
the Reorganized Debtors to be effective shall be in writing (including by
facsimile transmission) and, unless otherwise provided herein, shall be deemed
to have been duly given or made when only actually delivered or, in the case of
notice by facsimile transmission, when received and telephonically confirmed,
addressed as follows:

                           Motient Corporation
                           10802 Parkridge Boulevard
                           Reston, Virginia 20191-5416
                           Attn:  David H. Engvall
                           Vice President, General Counsel
                           And Secretary
                           Telephone:  (703) 758-6245
                           Telecopier:  (703) 758-6134

                                    - and -

                           McGuireWoods LLP
                           One James Center
                           901 East Cary Street
                           Richmond, Virginia 23219
                           Attn:  H. Slayton Dabney, Jr., Esq.
                           Telephone:  (804) 775-1000
                           Telecopier:  (804) 775-1061

                                    -and-

                           Milbank, Tweed, Hadley & McCloy LLP
                           1 Chase Manhattan Plaza
                           New York, New York  10005
                           Attn:  Allan S. Brilliant, Esq.
                           Telephone:  (212) 530-5283
                           Telecopier: (212) 822-5568

Dated:   Reston, Virginia
         February 27, 2002

                                     Page 68
<Page>

                                                  Respectfully submitted,

                                                  MOTIENT CORPORATION

                                                  By: /s/ W. Bartlett Snell
                                                      ---------------------
                                                      W. Bartlett Snell,
                                                      Senior Vice President and
                                                        Chief Financial Officer

                                                  MOTIENT HOLDINGS INC.

                                                  By: /s/ W. Bartlett Snell
                                                      ---------------------
                                                      W. Bartlett Snell,
                                                      Senior Vice President and
                                                        Chief Financial Officer

                                                  MOTIENT SERVICES INC.

                                                  By: /s/ W. Bartlett Snell
                                                      ---------------------
                                                      W. Bartlett Snell,
                                                      Senior Vice President and
                                                        Chief Financial Officer

                                     Page 69
<Page>

                                                  MOTIENT COMMUNICATIONS INC.

                                                  By: /s/ W. Bartlett Snell
                                                      ---------------------
                                                      W. Bartlett Snell,
                                                      Senior Vice President and
                                                        Chief Financial Officer

McGUIREWOODS LLP
Counsel for Debtors and
 Debtors in Possession
One James Center
901 East Cary Street
Richmond, Virginia 23219
(804) 775-1000

By: /s/ H. Slayton Dabney, Jr.
    ----------------------------------------
     H. Slayton Dabney, Jr. (VSB# 14145)
     A Member of the Firm

                                    Page 70QuickLinks
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Exhibit 10.6    
  

SECOND
AMENDED AND RESTATED PROGRAM LICENSE AGREEMENT 

        This
SECOND AMENDED AND RESTATED PROGRAM LICENSE AGREEMENT is entered into as of December 19, 2001 (the "Restatement Date") by and between VENEVISION INTERNATIONAL CORPORATION, a
Delaware corporation (hereinafter "Licensor"), and UNIVISION COMMUNICATIONS INC., a Delaware corporation ("Licensee" or "UCI"), and amends and restates that certain AMENDED AND RESTATED PROGRAM
LICENSE AGREEMENT (the "Amended and Restated Program License Agreement") made as of the 1st day of October, 1996 by and between Dennevar, B.V. (and assigned by Dennevar B.V. to Licensor) and The
Univision Network Limited Partnership, a Delaware limited partnership ("UNLP"). 

        WHEREAS,
Licensor has or will have rights in the United States of America, including all territories and possessions thereof other than Puerto Rico (the "Territory"), to license certain
television programs in the Spanish language or with Spanish subtitles produced by and to be produced by CORPORACION VENEZOLANA DE TELEVISION, C.A. (VENEVISION) ("CVT") or otherwise available to CVT,
Licensor or other entities controlled by CVT (CVT and all of the companies it controls, and Licensor being hereinafter referred to collectively as "Venevision"). 

        WHEREAS,
Licensee operates the Univision Network, the Galavision Network, the Stations, the Telefutura Network and the Telefutura Stations. 

        WHEREAS,
Licensee desires to acquire the right to broadcast in the Territory over the Univision Network, the Galavision Network, and the Telefutura Network, programs produced, to be
produced or otherwise available to Venevision, and Licensor is willing to grant such a license upon the terms, provisions and conditions herein set forth. 

        WHEREAS,
Televisa Internacional, S.A. de C.V. ("Televisa") is simultaneously herewith entering into a Second Amended and Restated Program License Agreement, dated as of the date hereof
(the "Televisa Agreement"), with the Licensee to license certain television programming for broadcast in the Territory. 

        NOW,
THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows: 

        1.    License of Programming.    

        1.1  

        (a)  Pursuant
to the terms and conditions hereof, Licensor hereby grants Licensee and its subsidiaries the exclusive license to broadcast in the Territory all Programs
throughout the Term on the Univision Network, the Galavision Network, and the Telefutura Network. 

        (b)  Licensee
agrees that sales of advertising time and the slotting of programs on, and operation of, the Networks, the Stations, the Telefutura Network and the Telefutura
Stations will be conducted and allocated on an arms-length basis vis-à-vis one another and vis-à-vis other
networks, stations and other media owned by Licensee and its Affiliates (i) without the intent by Licensee to adversely affect the overall combined level of Program Royalties (including
Incentive Fees, if any) and Telefutura Royalties (the "Royalties") payable to Licensor hereunder, and (ii) with a demonstrable business purpose (other than to adversely affect the Royalties
payable to Licensor hereunder). 

        (c)  Licensee
shall not broadcast any First-Run Program (other than news) on either of the Networks or the Telefutura Network between the hours of
1:00 a.m. and 9:00 a.m. unless 

1

 

Licensee reasonably believes that it is commercially reasonable to broadcast such program during such period. 

        1.2  For
purposes of this Agreement only: 

        (a)  "Programs"
means 

        (i)    programs
initially produced in the Spanish language or programs with Spanish subtitles, produced by third parties or co-produced by Venevision with third
parties to which Venevision owns sole television broadcast rights in the Territory (and which is not a Co-Produced Program (as defined below)); 

        (ii)  all
television programs in the Spanish language or programs with Spanish subtitles, previously produced directly or indirectly by or for Venevision and to be produced
directly or indirectly by or for Venevision for broadcast at any time to which Venevision or Licensor owns television broadcast rights in the Territory and which are available for broadcast including,
without limitation, in the following categories: novelas, musicals, variety shows, situation comedies, game shows, talk shows, children's shows, news shows, cultural and educational programs, and
sports programs; and 

        (iii)  movies
produced by Venevision and for which Venevision or Licensor owns the television broadcast rights in the Territory, from and after the time that such movies
become available for free television broadcast in the Territory. 

Each
Program shall be available for license to Licensee in the Territory pursuant to the terms of this Agreement upon the first to occur of (x) the date when such Program is initially broadcast
by Venevision or (y) the date when such Program is first made available for broadcast by any third party. 

        Except
as provided in the following paragraph, if Licensor or Venevision shall produce directly or indirectly any Spanish Language or Spanish subtitled programming for broadcast in the
Territory it shall be deemed a Program subject to the terms and conditions of this Agreement. 

        (b)  The
term "Programs" does not include Special Programs (other than Venevision Produced U.S. Special Programs) or Co-Produced Programs (each as defined below). 

        (c)  "Co-Produced
Programs" means programs originally produced for broadcast in the Spanish language or with Spanish subtitles, previously produced, or to be
produced, by Venevision for broadcast pursuant to co-production agreements with unaffiliated third parties or produced by unaffiliated third parties (in each case, other than any
co-production agreements directly or indirectly with any broadcaster in and to the Territory): 

        (i)    under
which Venevision does not own the right to permit the broadcast of such program in the Territory and/or 

        (ii)  under
which Venevision is required to share with such third parties the revenue derived from the broadcast of such program in the Territory. 

No
program that would otherwise be a Program under Section 1.2(a)(ii) shall become a Co-Produced Program solely because Venevision or Licensor licenses or sells distribution
rights in the Territory prior to or during production of such program and neither Venevision nor Licensor shall enter into any agreement to the contrary. 

        In
order for a program to be a Co-Produced Program, some material property right underlying such program must be provided by such unaffiliated third party described above and
such unaffiliated third party must participate in the development and production of the Program in exchange for such third party's distribution rights in the Territory or participation in distribution
revenues from the Territory. 

2

 

        If
Venevision intends to enter into an agreement or arrangement with respect to a program that it believes will be a Co-Produced Program under this Agreement, Venevision will
provide UCI with written notification of such intention at least 10 business days prior to entering into any such agreement or arrangement, along with the basis for Venevision's belief that such
program should be characterized as a Co-Produced Program solely for the purpose of permitting UCI to monitor compliance by Venevision with the provisions contained herein relating to
Co-Produced Programs, it being agreed that UCI and its Affiliates shall keep confidential such notice and the information contained therein, shall not use such notice or information for
its own account and shall not contact or engage in discussions with any Person other than Venevision with respect to such agreement or arrangement. 

        Subject
to the following paragraph, nothing contained in this Agreement shall prevent Licensor or Venevision from licensing broadcast rights (in exchange for cash or in-kind
services or property other than Programs) for territories other than the Territory to programs initially produced in the Spanish language or programs with Spanish language subtitles that are developed
and produced in the Territory by unaffiliated third party producers located in the Territory, including broadcasters, provided that neither Licensor nor Venevision has participated in any way in the
development or production of any such program. 

        In
the case of novelas, if Licensor or any of its Affiliates, (a) enters into an agreement or arrangement with respect to the co-production of a novela or
(b) sells or transfers a novela script or format to any third party, and (x) Licensor or any Affiliate owns or obtains Venezuelan broadcast rights to such novela and (y) broadcast
rights in the Territory exist during the Term, then Licensor must cause such novela to be a Program hereunder. 

        Venevision
agrees that it will use good faith efforts not to structure arrangements or agreements with respect to programs in a manner intended to cause such programs not to be
considered Programs hereunder. 

        (d)  "Affiliate"
of a person means any person that directly or indirectly controls, is controlled by, or is under common control with the person in question. For the purposes
of this definition, "control", when used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise. Affiliate shall not mean any television station that has entered into an affiliation agreement with the Networks but is otherwise not an Affiliate of UCI,
any Person that controls CVT, or any person under common control with, but not directly or indirectly controlled by, CVT. 

        (e)  "broadcast"
or "Network broadcast" means all electronic forms or other means now known or hereafter developed of transmission and re-transmission, including
but not limited to, over-the-air television, cable television, low power television, multi-point distribution systems, wire, fiber optics, microwave, and satellite, except for
purposes of delivery of the Programs pursuant to Section 3. 

        (f)    "Galavision
Network" means the Galavision Spanish language television network of affiliated cable television systems and other affiliated broadcast outlets broadcasting
the Galavision Network in the Territory. 

        (g)  "Networks"
means the Univision Network and the Galavision Network. 

        (h)  "Stations"
means those television broadcast stations, cable television systems and other broadcast outlets (such cable television systems and other broadcast outlets
being "Other Outlets") affiliated with the Networks that are now or hereafter directly or indirectly majority owned and operated by UCI or a direct or indirect subsidiary of UCI or with respect to
which UCI or a direct or indirect subsidiary of UCI has the right to designate a majority of 

3

 

the board or similar governing body, and in each case, which broadcast in the Spanish language format. 

        (i)    "Telefutura
Network" means the Telefutura television network of affiliated television broadcast stations, cable television systems and other affiliated broadcast outlets
broadcasting the Telefutura Network in the Territory to be launched by Licensee. 

        (j)    "Telefutura
Stations" means those television broadcast stations, cable television systems and other broadcast outlets (such cable television systems and other broadcast
outlets being "Other Telefutura Outlets") affiliated with the Telefutura Network that are now or hereafter directly or indirectly majority owned and operated by UCI or a direct or indirect subsidiary
of UCI or with respect to which UCI or a direct or indirect subsidiary of UCI has the right to designate a majority of the board or similar governing body. 

        (k)  "Univision
Network" means the Univision Spanish language television network of affiliated television broadcast stations, cable television systems and other affiliated
broadcast outlets broadcasting the Univision Network in the Territory. 

        1.3  Venevision
and its Affiliates shall have the right and ability to, and to permit others to: 

        (a)  transmit
or retransmit via satellite which receives its signal from any earth station or other facility in Venezuela (or from a substitute or back-haul
facility outside of Venezuela but serving Venezuela, so long as such signal is encrypted) to any television station in or cable system serving Venezuela, any Programs which may also be covered by this
Agreement, notwithstanding the fact that such transmissions or retransmissions may be incidentally viewed in the Territory; 

        (b)  transmit
or retransmit from any television station located in Venezuela any Programs which may also be covered by this Agreement, notwithstanding the fact that such
transmissions or re-transmissions may be incidentally viewed in the Territory; 

        (c)  transmit
via satellite to any direct-to-home subscribers located outside the Territory any Programs which may also be covered by this Agreement,
notwithstanding the fact that such transmissions may be intercepted by unauthorized recipients in the Territory. 

        (d)  transmit
via the Internet (x) Venevision's national network evening news broadcast and up to a 15 minute sports program, both of which in the aggregate last no
more than one hour per day, (y) religious service telecasts, and (z) charitable and non-commercial specials (e.g., telethons and presidential speeches). 

        Notwithstanding
the foregoing exceptions, neither Venevision nor its Affiliates shall consent to, and each shall use its commercially reasonable efforts to prohibit, 

        (i)    the
transmission or retransmission of such Programs by 

        (x)  any
television station in the Territory, 

        (y)  any
cable system in the Territory that is located beyond 35 miles from the community of license of any transmitting television station in Venezuela transmitting the
Programs (any such cable transmission or re-transmission within such 35 mile limit being hereby expressly permitted) or 

        (z)  any
other means of broadcasting in or into the Territory, and 

        (ii)  the
sale of any direct-to-home or similar services, or any mechanical device, authorization code or other access devices, to persons located in
the Territory for the purpose of receiving Programs in contravention of this Section 1.3. 

4

 

        To
the extent that Venevision has the right to transmit or retransmit under clause (b) and (d) above, Venevision shall have the right to market and promote and otherwise
generate revenues (including, but not limited to, the sale of advertising time) attributable to the ability of viewers in the Territory to receive Programs contained in such transmissions. Venevision
and Licensee acknowledge and agree that this Section 1.3 is intended solely to ensure that Venevision will not be in violation of this Agreement merely because transmissions or retransmissions
from stations located in Venezuela or transmissions or retransmissions from satellite signals intended for television stations, cable systems or direct-to-home subscribers
outside the Territory, and over the Internet as provided above, may be incidentally viewed by unauthorized recipients in the Territory, and is not intended to give Venevision any right to broadcast,
or license others to broadcast, Programs intended for viewing or which may be viewed in the Territory other than in accordance with the other provisions of this Agreement. 

        2.    Notification, Acceptance and Licensing of Programming.    Not less than once in each calendar quarter during the
term of this Agreement, Licensor will deliver a written notice (an "Availability Notice") to Licensee specifying all Programs which (a) have become available for license by Licensee since the
delivery of the preceding Availability Notice or (b) may no longer be available to Licensee for license hereunder. Upon the request of Licensee, Licensor shall deliver to Licensee whatever
materials are reasonably available with respect to any Program available for license, at Licensee's expense to the extent Licensee requests more than a videotape pilot or representative episode with
respect to a new Program. If Licensee desires to license any Programs, it shall notify Licensor of its acceptance in writing (an "Acceptance") at any time. Such Acceptance shall specify the name of
the Accepted Program and such other information as may reasonably be requested by Licensor. An Acceptance shall constitute the acceptance of the license by Licensee of the Program(s) and upon receipt
by Licensor of such Acceptance, the Program(s) covered by each such Acceptance shall without further action be automatically licensed to Licensee on the terms and conditions of this Agreement and be
an "Accepted Program". 

        3.    Delivery, Expenses And Use Of Programs.    

        3.1  Following
Licensee's sending an Acceptance Notice with respect to a Program pursuant to Section 2 of this Agreement, Licensor shall deliver to Licensee, at
Licensee's expense, a visual and aural reproduction of each such Program either (at Licensee's election and subject to Licensor's reasonable ability to comply with such election) via satellite (at
Licensee's risk of loss if delivery via satellite is requested less than 48 hours in advance of scheduled broadcast) or on such form of video tape, disc or other device as reasonably requested
by Licensee, formatted and suitable for broadcast in the Territory as reasonably requested by Licensee in accordance with its broadcast standards and practices, as soon as available. Programs will be
deemed delivered by Licensor when transmitted to the satellite, when actually received if shipped by freight, or when made available through permission to re-transmit the signal of an
affiliate of Licensee. 

        3.2  Licensee
agrees that as soon as practicable following receipt of delivery of any Program via satellite or on video tape, disc or other device, it will examine such
delivery to determine whether it is physically suitable for broadcast and notify Licensor immediately upon detecting any defect rendering such delivery unsuitable for broadcast. In such cases,
Licensor shall promptly re-deliver such Program at its own expense either (at Licensee's election) via satellite or on a physically suitable videotape, disc or other device designated by
Licensee. 

        3.3  Licensee
agrees to return to Licensor each video tape, disc or other device of a Program delivered by Licensor on the reels and in the containers in which it was
shipped, in the same condition as received, reasonable wear and tear through proper use excepted, as soon as practicable after Licensee and its subsidiaries has made all broadcasts of such Program
that it plans to make within the next 12 months. Licensee shall pay all costs of returning the videotapes, discs or other devices to Licensor. Should Licensor request that the video tape, disc
or other 

5

 

device be sent to a location other than Licensor's warehouse, Licensor will bear responsibility for shipping costs above those which would have been applicable for shipping to Licensor's warehouse.
Licensor agrees to re-deliver to Licensee any Program previously returned to Licensor that Licensee or any subsidiary of Licensee desires to re-broadcast during the Term. 

        3.4  The
videotapes, discs or other devices shall at all times remain the property of Licensor subject to Licensee's rights as herein provided. The risk of loss, damage,
destruction or disappearance of any tape shall be borne by Licensee from the time of delivery to Licensee until the return thereof to Licensor or Licensor's designee and as to any video tape, disc or
other device or part thereof lost, stolen, destroyed or damaged after delivery to Licensee and before the return thereof, Licensee shall pay Licensor the cost of replacement thereof, which payment
shall be limited to the cost of replacing the raw video tape, disc or other device. 

        3.5  Except
as provided herein, Licensee will not, and will not authorize others to, copy, duplicate or re-license any Program unless necessary for Licensee's or
its Affiliates own exploitation of broadcast rights as permitted hereunder. Any duplicate or copy of any part of the Program (including trailers) made by Licensee for its own purposes will be erased
following all anticipated broadcasts as permitted
hereunder of the Program within the next 12 months. Upon receipt of written request from Licensor, an officer of Licensee shall certify in writing the destruction of all such copies. 

        3.6  Licensor
will furnish to Licensee glossy prints of still photos, synopses, cast lists and all other promotional material for the promotion and exploitation of the
Programs, if available. Licensor grants (and will cause its Affiliates to grant) to Licensee and its Affiliates the right to use and license others to use Licensor's name and, unless Licensee is
advised by Licensor that the rights of Licensor are limited (in which case, to the extent not limited), to use and license others to use the name and likeness of, and biographical material concerning,
each star, featured performer, writer, director and producer in the Programs and the titles of each Program and fictitious persons and locales therein, for advertising and publicity, of the Programs,
and any broadcaster or sponsor thereof, but not for direct endorsement of any product or service, provided that any such use will protect the copyrights of Licensor. To the extent available to
Licensor or its Affiliates after reasonable efforts, Licensor will furnish Licensee with music cue sheets for the Programs and the information necessary for administration of rights payments and
compliance with Section 507 of the Federal Communications Act of 1934, as amended concerning broadcast matter and disclosures required thereunder, insofar as that Section applies to Persons
furnishing program material for television broadcasting ("Section 507"). Subject to the foregoing and subject to Licensor's reasonable prior approval, Licensee shall have the right to produce
its own promotional material for or from the Programs. Venevision shall permit Venevision's proprietary artists to appear on or for Licensee or its Affiliates for promotional or programming purposes
at mutually agreeable times (which agreement shall not be unreasonably withheld), at Licensee's expense, it being agreed that Venevision may not be able to require an artist to appear, all requests to
and contacts with artists shall be made though a Venevision representative designated by Venevision, and Venevision shall not be required to approve any appearance which would interfere in any
material respect with Venevision's operations or productions. 

        3.7  Except
as provided in Section 3.8 below, Licensee agrees to include in its broadcast of Programs all copyright notices and all credits made part of each Program
including but not limited to stars, directors, producers and writers. 

        3.8  

        (a)  When
requested by Licensee, Licensor in consultation with Licensee shall edit episodes of Programs in order to (i) end novelas by creating recaps on a limited
basis to cause the final episode to be broadcast at strategically competitive times (i.e., Thursday and Friday) 

6

 

and (ii) reduce the length of credits so that the opening credits are no longer than 90 seconds in length and closing credits are no longer than 30 seconds in length. 

        (b)  Licensee
shall have the right to edit and make changes, additions and deletions to Programs in order to (i) eliminate internal credits when episodes of a Program
air back-to-back, (ii) adjust Program length to standard U.S. format lengths (i.e., 30-60-90-120 minute lengths) by changing starts
or finishes
(with other desired edits for such purpose to be provided under paragraph (a) above), (iii) insert commercials during natural breaks in the Program and (iv) comply with applicable
government rules and regulations, including FCC regulations and Licensee's generally applicable broadcast standards and practices from time to time in effect. 

        (c)  When
requested by Licensee, Licensor in consultation with Licensee may (in its discretion which must be reasonably exercised) edit episodes of Programs in order to
(i) eliminate or consolidate episodes that contain more than 15 minutes of recap material, (ii) eliminate any material that is not relevant to U.S. Hispanic audiences (i.e., phone
numbers, addresses, contest rules, etc.) and (iii) facilitate wind-up of cancelled Programs. 

        (d)  When
requested by Licensee, Licensor in consultation with Licensee may (in Licensor's sole discretion) edit episodes of Programs in order to (i) eliminate
storylines and segments in good faith deemed by Licensee to be undesirable or unacceptable to U.S. audiences and (ii) reformat Programs to a maximum of 2 hours per episode. 

The
editing rights hereunder shall be subject to applicable law and applicable contractual rights of unaffiliated third parties of which Licensor informs Licensee in writing at the time of delivery to
Licensee of such Program (provided that Licensor agrees to use (and to cause its Affiliates to use) good faith efforts not to permit to exist any such contractual restrictions). Licensee will pay for
editing performed by Licensor at Licensor's incremental cost. 

        3.9  Subject
to Section 6.1 and Licensee's remedies for a breach thereof, Licensor may, at its sole and absolute discretion, withdraw any Program and terminate any
license with respect to such Program if Licensor reasonably determines that the broadcast thereof is likely to: (i) infringe the rights of third parties, (ii) violate any law, court
order, governmental regulation or ruling of any governmental agency, (iii) otherwise subject the Licensor to any material liability. In addition Licensor reserves the right to withdraw any
Program prior to the conclusion of the applicable Broadcast Period if, for any reason, the Program is no longer being produced by or available to Venevision. In the event of any such withdrawal or
termination, Licensor shall give Licensee as much notice as possible, and the parties shall have no obligations to each other with regard to Programs not produced, subject to Section 6.1 and
Licensee's remedies for a breach thereof. 

        3.10 Notwithstanding
anything herein to the contrary, any incremental cost or expense of Licensor relating to this Section 3 that would not have been applicable prior
to the Restatement Date, shall be borne by Licensee. 

        4.    Royalties and License Fees.    

        4.1  

        (a)  Licensee
shall pay Licensor a royalty (the "Program Royalty") in cash for the Programs offered to it an aggregate amount equal to 5.5% of combined net time sales (as
defined in the Amended and Restated Program License Agreement) for the period commencing on October 1, 1996 and ending on December 31, 1996, 6.75% of combined net time sales (as defined
in the Amended and Restated Program License Agreement) for the period commencing on January 1, 1997 and ending on December 31, 1997, 7.5% of combined net time sales (as defined in the
Amended and Restated Program License Agreement) for the 

7

 

period commencing on January 1, 1998 and ending on December 31, 2001, and for the year commencing on January 1, 2002, and for each year thereafter, 7.5% of Combined Net Time
Sales (as defined below) plus, to the extent applicable, "Incentive Fees" consisting of either, (x) if Programs licensed to the Networks and the Stations deliver at least 30.0% and up to 37.5%
of Gross Rating Points on the Networks in such year, an amount equal to 1% of Excess Time Sales for such year, (y) if Programs licensed to the Networks and the Stations deliver at least 37.6%
and up to 45.0% of Gross Rating Points on the Networks in such year, an amount equal to 2% (non-cumulative) of Excess Time Sales for such year or (z) if Programs licensed to the
Networks and the Stations deliver more than 45.0% of Gross Rating Points on the Networks in such year, an amount equal to 3% (non-cumulative) of Excess Time Sales for such year (it being
understood that non cumulative means that Incentive Fees in any year shall be paid, if at all, under only one of clause (x), (y) or (z) above, as applicable), on the full amount,
if any, of Excess Time Sales for such year). 

        (b)  For
each year commencing on or after January 1, 2002 Licensee shall pay Licensor a royalty (the "Telefutura Royalty") in cash for the Programs offered to it, an
annual amount for each year equal to 30% of Telefutura Net Time Sales for such year multiplied by a fraction, (x) the numerator of which is the aggregate Gross Rating Points delivered by
Programs licensed from Licensor and broadcast on the Telefutura Network in such year and (y) the denominator of which is the aggregate of all Gross Rating Points received by the Telefutura
Network in such year.+ 

        (c)  For
purposes of this Agreement only: 

        (i)    "Combined
Net Time Sales" means all time sales by the Networks and the Stations (and with respect to Other Outlets, to the extent solely related to the Networks),
including barter and trade and television subscription revenue (including, without limitation, satellite subscription revenue), less, to the extent related to the Stations and the Networks, without
duplication), (i) advertising commissions, (ii) Special Event Revenue (iii) music license fees, (iv) outside affiliate compensation, (v) time sales relating to
advertising sold to Televisa or provided to Venevision as contemplated by Section 22(b)(i) of this Agreement and the Televisa Agreement and included in times sales (vi) taxes
(other than withholding taxes) paid by Licensee pursuant to Section 4.5 hereof and similar taxes paid by the Stations, calculated in accordance with U.S. generally accepted accounting
principles ("GAAP"). Unless otherwise agreed in writing between the parties, barter and trade sales shall be valued at the fair market value of the goods or services received by the Networks or the
Stations. 

        (ii)  "Excess
Time Sales" means for any year, commencing calendar year 2002, the excess of the Combined Net Time Sales for the Stations and the Networks for such year over
2001 Adjusted Combined Net Time Sales. 

        (iii)  "GNP
Implicit Price Deflator" means the "implicit price deflator, GNP" as published by the U.S. Bureau of Economic Analysis or any replacement index agreed upon by
Licensee and Licensor if the "implicit price deflator, GNP" is no longer published. 

        (iv)  "Gross
Rating Points" means gross rating points by households as reported by A.C Nielson. 

        (v)  "Telefutura
Net Time Sales" means all time sales in any year with respect to the Telefutura Network and the Telefutura Stations (and with respect to Other Telefutura
Outlets, to the extent solely related to the Telefutura Network), including barter and trade and television subscription revenue (including, without limitation, satellite 

8

 

subscription revenue), less, to the extent related to the Telefutura Network and Telefutura Stations (i) advertising commissions, (ii) music license fees, (iii) outside affiliate
compensation, (iv) time sales relating to advertising sold to Televisa or provided to Venevision as contemplated by Section 22(b)(i) of this Agreement and the Televisa Agreement
and included in time sales, (v) taxes (other than withholding taxes) paid by Licensee pursuant to Section 4.5 hereof, calculated in accordance with GAAP. 

        (vi)  "2001
Adjusted Combined Net Time Sales" means Combined Net Time Sales for the Stations and the Networks for calendar year 2001 adjusted by the percentage increase in
the GNP Implicit Price Deflator, from December 31, 2001 to the last day of the year for which Excess Times Sales are being determined. 

        4.2  Notwithstanding
Section 4.1 above, to the extent from time to time specified in a writing signed by both Licensor and Televisa and delivered to Licensee, the
amounts of the Program Royalties (but not Incentive Fees) payable in accordance with Section 4.1(a) of this Agreement and the Televisa Agreement (without giving effect to any payment based upon
Excess Time Sales) may be changed by Licensor and Televisa, so long as the aggregate of the amounts of such Program Royalties (other than Program Royalties based upon Excess Time Sales) under this
Agreement and the Televisa Agreement does not exceed for any period 15% of Combined Net Times Sales. Licensor and Televisa shall not deliver such a writing more than twice a year. 

        4.3  Program
Royalties and Telefutura Royalties shall be paid currently on a monthly basis on the twelfth business day after the end of each month in a single payment to
Licensor based upon the parties' good faith best estimate at such time of the amounts accrued. Appropriate adjustment (the "Adjustment") will be made to Program Royalties and Telefutura Royalties on a
quarterly basis within 45 days after the
end of each quarter, and the full amount thereof shall be paid or credited, as the case may be, with the next monthly payment of Program Royalties or Telefutura Royalties for any difference between
the amounts so paid and those finally determined to have accrued. In all cases, the calculation of the Adjustment will be made as promptly as practicable by Licensee, and in the event of any disputes
the determination shall be made by a nationally recognized independent certified public accounting firm mutually selected by Licensor and Licensee (or, if they fail to designate such a firm within
10 days after written notice of a dispute, by such firm designated by the President of the American Arbitration Association (or his designee)), whose determination will be final and binding
upon the parties. The fees and expenses of such firm shall be paid one-half by Licensor and one-half by Licensee, unless such firm determines it would be more equitable to
otherwise allocate such fees and expenses. 

        4.4  All
payments made pursuant to this section shall be in cash in U.S. currency with accompanying back-up information in reasonable detail of Combined Net Time
Sales, Telefutura Net Time Sales and Gross Rating Points, in each case, for the applicable period. Such payments shall be calculated as provided above regardless of the amount of Programs licensed
hereunder or whether any such Programs are broadcast. In order to assure compliance with the terms of this Agreement, Licensor shall have the right to receive once each year a certificate from
Licensee's independent certified public accounting firm, which certificate shall attest to the combined net time sales for the year. Licensee shall pay for the preparation of such certificate and its
delivery to Licensor. Licensor may request additional certificates and services either from Licensee's accounting firm or from a firm of certified public accountants chosen by Licensor. The fees and
expenses of the certified public accountants providing such additional certificates and performing such additional services pursuant to this Section 4.4 shall be paid by Licensor, unless such
verification results in an adjustment in Licensor's favor equal or greater than 5% of the amount originally computed by Licensee, in which case such fee will be paid by Licensee. Licensee agrees to
provide any certified public accountants designated by Licensor with access to all business records of Licensor related to the computation of Combined Net Time Sales or Telefutura Net 

9

 

Time Sales, as applicable. Licensor agrees to maintain the confidentiality of all information learned from Licensee in connection with the performance of this Agreement, other than information
(i) which becomes public (unless it becomes public because of a breach of this covenant by Licensor), (ii) which otherwise becomes known to Licensor (unless Licensor knows that the
information has been disclosed in violation of a confidentiality agreement with Licensee), or (iii) which Licensor is required by law, order or administrative law request or by stock exchange
rule or regulation to divulge. 

        4.5  Any
and all sums payable on account of sales, use or other similar taxes arising out of or relating to the licensing or exhibition by Licensee of the Programs, in
addition to any personal property or other tax assessed or levied by any governmental unit arising out of or relating to the storage or possession of the Programs thereof by Licensee shall be paid by
Licensee. 

        4.6  Licensee
may deduct and withhold from any payment to or for the account of Licensor with respect to the Program Royalties or Telefutura Royalties such amounts as it in
good faith determines it is required to withhold with respect to such payment under applicable United States and state tax withholding laws, and shall promptly remit such amounts to the appropriate
taxing authority. Within 30 days of any such remittance Licensee shall furnish to Licensor the original or certified copy of a receipt evidencing payment, or other evidence of payment
reasonably satisfactory to Licensor. If
Licensor has timely filed with Licensee a duly completed Form W-8BEN, W-8ICI or W-9, of the Internal Revenue Service (or successor form thereto) or has
complied with applicable procedures under state law, entitling it to exemption from, or a reduced rate of, withholding under the applicable law or regulations, the amount withheld shall be accordingly
limited. Licensee shall cooperate in any reasonable manner requested by Licensor to minimize Licensor's withholding tax liability. 

        4.7  If
Licensee is more than 30 days late in paying any amount due to Licensor under this Section 4, such late amounts shall thereafter bear interest at a rate
equal to LIBOR plus 5%, plus any applicable withholding. 

        5.    Special Programs and Co-Produced Programs.    

        5.1  For
purposes of this Agreement: 

        (a)  "Special
Programs" means special programs such as the World Cup, other sporting events, political conventions, election coverage, parades, pageants, special variety
shows and other non-episodic and non-continuing shows. 

        (b)  "Non-Venevision-Produced
Special Programs" means Special Programs not produced directly or indirectly by or for Venevision. 

        (c)  "Venevision-Produced
U.S. Special Programs" means Venevision-Produced Special Programs for which Licensor has adequate rights to license such Special Programs to
Licensee under the terms of this Agreement. 

        (d)  "Venevision-Produced
Non-U.S. Special Programs" means Venevision-Produced Special Programs for which Licensor does not have adequate rights to license such
Special Programs to Licensee under the terms of this Agreement. 

        (e)  "Venevision-Produced
Special Programs" means Special Programs directly or indirectly produced by or for Venevision. 

        (f)    "Special
Event Revenue" means net time sales for Non-Venevision-Produced Special Programs and Non-Televisa-Produced Special Programs as defined
in the Televisa Agreement broadcast by Licensee on either Network. 

10

 

        5.2  Licensor
shall use its best efforts, and shall cause its Affiliates to use their best efforts, to coordinate its Non-Venevision-Produced Special Program
acquisitions with those of Licensee, so as to permit Licensee to participate therein and to acquire rights in the Territory to such programs on an advantageous basis and on terms satisfactory to
Licensee; provided, however, that the obligation to use "best efforts" shall not be interpreted to include any obligation of Licensor or its Affiliates
to expend additional money to permit Licensee's participation or to acquire rights on an advantageous basis. 

        5.3  Venevision-Produced
U.S. Special Programs shall be "Programs" for all purposes of this Agreement. 

        5.4  At
the request of Licensee, Licensor shall use its best efforts, and shall cause its Affiliates to use their best efforts, to acquire broadcast rights in the Territory
on terms satisfactory to Licensee for Venevision-Produced Non-U.S. Special Programs and any Co-Produced Program that falls within clause (i) (but not clause (ii))
of the definition of "Co-Produced Program" in Section 1.2(c); provided, however, that the obligation to use its "best efforts" shall not be interpreted to include any obligation of
Licensor to expend additional money, except to the extent reimbursed by the "Special Event Fee" (as defined below). Such programs accepted by Licensee shall be licensed hereunder to Licensee for the
Program Royalty plus a fee (the "Special Event Fee") in the amount of the cost to Licensor of the acquisition of broadcast rights in the Territory to such program, such costs to be determined by the
parties in good faith based on the portion of the total amount paid by Licensor for broadcast rights that is reasonably allocated to the acquisition of broadcast rights in the Territory. 

        5.5  Licensor
shall offer Licensee in accordance with all applicable provisions of this Agreement all Co-Produced Programs that fall within clause (ii) of
the definition of "Co-Produced Program" in Section 1.2(a) for which program Licensor has or can obtain adequate rights and licensing authority to offer such programs to Licensee in
compliance with the terms and conditions of this Agreement, except that the Program Royalty specified in Section 4.1(a) hereof shall not include the license fee for Co-Produced
Programs. Compensation to Licensor for all Co-Produced Programs accepted by Licensee shall be computed and paid in accordance with such terms as the parties may mutually agree in writing.
If the parties are unable to agree on the royalty for any Co-Produced Program within 10 days after such program is offered by Licensor, such program may be sold to others in the
Territory, so long as Licensor in good faith determines that the terms and conditions applicable to such sale are more favorable to the Licensor than those offered by the Licensee in writing within
such 10-day period. 

        6.    Representations and Warranties of Licensor.    

        6.1  Licensor
hereby agrees, warrants and represents as follows: 

        (a)  Licensor
is free to enter into and fully perform this Agreement; 

        (b)  Licensor
has or will have the right to grant to Licensee the broadcast rights to the Accepted Programs in the Territory set forth in this Agreement, including but not
limited to the necessary literary, artistic, technological and intellectual property rights and has secured or will secure all necessary written consents, permissions and approvals for incorporation
into such Programs of the names, trademarks, likenesses and/or biographies of all persons, firms, products, companies and organizations depicted or displayed in such Programs, and any preexisting film
or video footage produced by third parties; 

        (c)  There
are no and will not be any pending claims, liens, charges, restrictions or encumbrances on the Accepted Programs that conflict with the broadcast rights granted
hereunder to such Programs in the Territory; 

11

 

        (d)  Licensor
has paid or will pay all compensation, residuals, reuse fees, synchronization royalties, and other payments which must be made in connection with the Accepted
Programs and in connection with exploitation of the rights herein granted to Licensee to any third parties including, but not limited to, musicians, directors, writers, producers, announcers,
publishers, composers, on-camera and off-camera performers and other persons who participated in production of such Programs, and to any applicable unions, guilds or other
labor organizations; provided, however, that Licensor has not acquired performing rights for performance in the Territory of the music contained in such
Programs, which rights shall be obtained by Licensee; provided, further, however, that Licensor warrants and represents that all music is available for
licensing through ASCAP, BMI or SESAC (or any successor or similar entity in the United States) or is in the public domain or is owned or controlled by Licensor to the extent necessary to permit
broadcasts hereunder in the Territory and no additional clearance or payment is required for such broadcast; 

        (e)  The
main and end titles of the Accepted Programs and all publicity, promotion, advertising and packaging information and materials supplied by Licensor will contain all
necessary and proper credits for the actors, directors, writers and all other persons appearing in or connected with the production of such Programs who are entitled to receive credit and comply with
all applicable contractual, guild, union and statutory requirements and agreements; 

        (f)    Exercise
of the broadcast rights to the Accepted Programs in the Territory will not infringe on any rights of any third party, including but not limited to copyright,
patent, trademark, unfair competition,
contract, property, defamation, privacy, publicity or "moral rights" (to the extent such moral rights are recognized by U.S. law); 

        (g)  Except
to the extent expressly permitted by this Agreement, Licensor has not and will not grant or license to others, and will not itself exercise, any rights to
broadcast any Program in or to the Territory, including, but not limited to, by way of any broadcast over the radio of any audio portion of any Accepted Program that is a novela in the Territory
(other than spill-over from Licensor's border radio stations). 

        (h)  Each
and every one of the representations and warranties made by Licensor herein shall survive the Broadcast Period for each Accepted Program; 

        (i)    To
the extent Section 507 (as defined in Section 3.6 above) is applicable, no Accepted Program includes or will include any matter for which any money,
service or other valuable consideration is directly or indirectly paid or promised to Licensor by a third party, or accepted from or charged to a third party by Licensor, unless such is disclosed in
accordance with Section 507. Licensor shall exercise reasonable diligence to inform its employees, and other persons with whom it deals directly in connection with such programs, of the
requirements of Section 507; provided, however, that no act of any such employee or of any independent contractor connected with any of the programs, in contravention of the provisions of
Section 507, shall constitute a breach of the provisions of this paragraph unless Licensor has actual notice thereof and fails promptly to disclose such act to Licensee. As used in this
paragraph, the term "service or other valuable consideration" shall not include any service or property furnished without charge or at a nominal charge for use in, or in connection with, any of the
programs "unless it is so furnished in consideration for an identification in a broadcast of any person, product, service, trademark or brand name beyond an identification which is reasonably related
to the use of such service or property on the broadcast," as such terms are used in Section 507. No inadvertent failure by Licensor to comply with this paragraph shall be deemed a breach of
this Agreement; and 

12

 

        (j)    For
purposes of this Section 6.1 only, "Accepted Programs" shall be deemed to include Venevision Produced U.S. Special Programs to the extent broadcast by
Licensee. 

        6.2  Licensor
further agrees that, while it has no obligation to do so, if it secures a producer's (Errors and Omissions) liability policy covering the Programs, or any part
thereof, it will cause Licensee to be named as an additional insured on such policy and will cause a certificate of insurance to be promptly furnished to Licensee, provided, however, that the
inclusion of Licensee as an additional insured does not result in any additional cost or expense to Licensor. Licensor will notify Licensee when such insurance is obtained and, after obtained if
canceled. Any such insurance as to which Licensee is an additional insured shall be primary as to Licensee and not in excess of or contributory to any other insurance provided for the benefit of or by
Licensee. 

        7.    Indemnification.    

        7.1  Licensor
agrees to hold Licensee, its partners, the partners of any partnership that is a partner of Licensee, officers, employees, and agents and the shareholders,
officers, directors, employees and agents of the partners or any corporation or partnership that is a partner of Licensee (collectively the "Licensee Indemnitees"), harmless, from any claims,
deficiencies, assessments, liabilities, losses, damages, expenses (including, without limitation, reasonable fees and expenses of counsel) (collectively "Losses") which any Licensee Indemnitee may
suffer by reason of Licensor's breach of, or non-compliance with, any covenant or provision herein contained or the inaccuracy of any warranty or representation made in this Agreement and
any such damages shall be reduced by: (i) the amount of any net tax benefit ultimately accruing to Licensee on account of Licensee's payment of such claim; (ii) insurance proceeds which
Licensee has or will receive in connection with such claim, and (iii) any recovery from third parties in connection with such claim; provided,
however, that Licensor shall not delay payment of its indemnification obligations hereunder pending resolution of any tax benefit or insurance or third party claim if Licensee
provides Licensor with an undertaking to reimburse Licensor for the amount of any such claim ultimately received; and provided, further, that Licensee
shall have no obligation to obtain any such insurance proceeds or recovery from third parties if and to the extent Licensor is subrogated (in form and substance satisfactory to Licensor) to Licensee
claims in respect of such insurance or third parties. 

        7.2  Licensee
agrees to indemnify Licensor, its direct and indirect shareholders and all officers, directors, employees and agents of any of the foregoing (the "Licensor
Indemnitees") against and hold the Licensor Indemnitees harmless from any and all Losses incurred or suffered by any Licensor Indemnitee arising out of a breach by Licensee of the representations,
warranties, covenants or agreements made or to be performed by it pursuant hereto, or arising out of any program or commercial material (apart from the Programs) furnished by Licensee and any such
damages shall be reduced by: (i) the amount of any net tax benefit ultimately accruing to Licensor on account of Licensor's payment of such claim; (ii) insurance proceeds which Licensor
has or will receive in connection with such claim, and (iii) any recovery from third parties in connection with such claim; provided, however,
that Licensee shall not delay payment of its indemnification obligations hereunder pending resolution of any tax benefit or insurance or third party claim if Licensor provides Licensee with an
undertaking to reimburse Licensee for the amount of any such claim ultimately received; and provided, further, that Licensor shall have no obligation to
obtain any such insurance proceeds or recovery from third parties if and to the extent Licensee is subrogated (in form and substance satisfactory to Licensee) to Licensor claims in respect of such
insurance or third parties. 

        7.3  The
following procedures shall govern all claims for indemnification made under any provision of this Agreement. A written notice (an "Indemnification Notice") with
respect to any claim for indemnification shall be given by the party seeking indemnification (the "Indemnitee") to 

13

 

the party from which indemnification is sought (the "Indemnitor") within thirty (30) days of the discovery by the Indemnitee of such claim which Indemnification Notice shall set forth the
facts relating to such claim then known to the Indemnitee (provided that failure to give such Indemnification Notice as aforesaid shall not release the Indemnitor from its indemnification obligations
hereunder
unless and to the extent the Indemnitor has been prejudiced thereby). The party receiving an Indemnification Notice shall send a written response to the party seeking indemnification stating whether
it agrees with or rejects such claim in whole or in part. Failure to give such response within ninety (90) days after receipt of the Indemnification Notice shall be conclusively deemed to
constitute acknowledgment of the validity of such claim. If any such claim shall arise by reason of any claim made by third parties, the Indemnitor shall have the right, upon written notice to
Indemnitee within 30 days after receipt of the Indemnification Notice, to assume the defense of the matter giving rise to the claim for indemnification through counsel of its selection
reasonably acceptable to Indemnitee, at Indemnitor's expense, and the Indemnitee shall have the right, at its own expense, to employ counsel to represent it; provided,
however, that if any action shall include both the Indemnitor and the Indemnitee and there is a conflict of interest because of the availability of different or additional
defenses to the Indemnitee, the Indemnitee shall have the right to select separate counsel to participate in the defense of such action on its behalf, at the Indemnitor's expense. The Indemnitee shall
cooperate fully to make available to the Indemnitor all pertinent information under the Indemnitee's control as to the claim and shall make appropriate personnel available for any discovery, trial or
appeal. If the Indemnitor does not elect to undertake the defense as set forth above, the Indemnitee shall have the right to assume the defense of such matter on behalf of and for the account of the
Indemnitor; provided, however, the Indemnitee shall not settle or compromise any claim without the consent of the Indemnitor, which consent shall not be
unreasonably withheld. The Indemnitor may settle any claim at any time at its expense, so long as such settlement includes as an unconditional term thereof the giving by the claimant of a release of
the Indemnitee from all liability with respect to such claim. 

        8.    Term.    The term of this Agreement (the "Term") shall be until December 17, 2017. Any license in effect
for any Program at the end of the Term shall continue through the Broadcast Period for such applicable Program, with no right of re-license or extension at the end
thereof,and all of the rights and obligations of the parties under this Agreement with respect to such license will continue through the Broadcast
Period for such Program, it being agreed that the parties shall enter into mutually satisfactory royalty arrangements with respect to the Broadcast Period following the termination of this Agreement
in order to compensate Licensor for the use of Programs during such period and, if the parties are unable to agree upon such royalty arrangements, the amount thereof shall be determined based on
prevailing market conditions. For Programs that commence broadcast on the Networks or the Telefutura Network in the final year of the Term, Licensee must commence the broadcast of the Program on one
of such networks over at least 70% of such network's coverage (as determined by the number of Hispanic television households potentially reached by the applicable network) and shall continue to
broadcast the Program without substantial interruption over such minimum of 70% network coverage until the conclusion of the Broadcast Period for such Program. 

        For
purposes of this Agreement only: 

        (a)  "Broadcast
Period" means 

        (i)    for
novelas or other Programs with a plot line continuing through more than one episode, the time necessary to broadcast all episodes on a continuing basis without
substantial interruption and 

        (ii)  for
all other programs (excluding one-program shows), (x) for weekly programs, the time period necessary to broadcast 26 episodes of the Program
without substantial 

14

 

interruption, which under normal circumstances is expected to be 26 continuous weeks and (y) for daily programs (Monday through Friday), 26 weeks. 

        (b)  "without
substantial interruption" means that the Programs will be scheduled and run on a continuing periodic basis except for occasional network preemption to
accommodate one-time specials or programs which, because of their nature or timeliness or because of FCC Rules, must in Licensee's reasonable judgment be broadcast in lieu of the regularly
scheduled Program. 

        In
addition this Agreement may be terminated by either party in the event that the other party (i) materially breaches its obligations hereunder and fails to cure such breach
within 180 days of notice thereof (90 days for failure to pay the Program Royalty or Telefutura Royalty when due) by the party seeking termination (which notice shall describe the breach
in reasonable detail); provided, however, that the inaccuracy of any of Licensor's representations and warranties contained in Section 6 hereof
shall not be deemed to be a breach of its obligations for purposes of this Section 8 to the extent that Licensor satisfies its indemnification obligations with respect to such inaccuracy, or
(ii) asserts Force Majeure under Section 9 as a relief from substantially all of its obligations hereunder for a period in excess of one year. Any notice of material breach referred to
in (i) above shall concurrently be sent to the Managing Agents for any lenders providing financing to the Stations and the Networks, and the Managing Agents on behalf of such lenders shall have
the right to cure such alleged material breach within such 90-day or 180-day cure period. Any notice of termination for Force Majeure pursuant to (ii) above shall
concurrently be sent to such Managing Agents. 

        9.    Force Majeure.    Neither party hereto shall be liable for or suffer any penalty or termination of rights
hereunder by reason of any failure or delay in performing any of its obligations hereunder if such failure or delay is occasioned by compliance with governmental regulation or order, or by
circumstances beyond the reasonable control of the party so failing or delaying, including but not limited to acts of God, war, insurrection, fire, flood, accident, strike or other labor disturbance,
interruption of or delay in transportation (a "Force Majeure Event"). Each party shall promptly notify the other in writing of any such event of force majeure, the expected duration thereof, and its
anticipated effect on the party affected and make reasonable efforts to remedy any such event, except that neither party shall be under any obligation to settle a labor dispute. If Licensor is
prevented by a Force Majeure Event from delivering any Accepted Program to Licensee, the running of the time period for purposes of computing the applicable Broadcast Period for such Program shall be
suspended and, if such Force Majeure Event prevents Licensor from delivering any substitute Programs to Licensee, then Licensee's obligations to pay the Program Royalty under Section 4.1 hereof
shall be reduced (but not below zero) for the time period or periods so affected to the extent necessary to compensate Licensee for the cost of obtaining substitute programming. Any notice of Force
Majeure sent pursuant to this Section 9 shall concurrently be sent to the Managing Agents referred to in Section 8 above. 

        10.    Modification.    This Agreement shall not be modified or waived in whole or in part except in writing signed by
an officer of the party to be bound by such modification or waiver. 

        11.    Waiver of Breach.    A waiver by either party of any breach or default by the other party shall not be
construed as a waiver of any other breach or default whether or not similar and whether or not occurring before or after the subject breach. 

        12.    Jurisdiction; Venue; Service of Process.    Each of the parties irrevocably submits to the jurisdiction of any
California State or United States Federal court sitting in Los Angeles County in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, and
irrevocably agrees that any such action or proceeding may be heard and determined only in such California State or Federal court. Each of the parties irrevocably waives, to the fullest extent it may
effectively do so, the defense of an inconvenient forum to the maintenance of any such action or proceeding. Each of the parties irrevocably appoints CT Corporation System (the "Process Agent"), 

15

 

with an office on the date hereof at 818 West 7th Street, Los Angeles, CA 90017 as his or its agent to receive on behalf of him or it and his or its property service of copies of the summons and
complaint and any other process which may be served in any such action or proceeding. Such service may be made by delivering a copy of such process to any of the parties in care of the Process Agent
at the Process Agent's above address, and each of the parties irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternate method of service, each of the
parties consents to the service of copies of the summons and complaint and any other process which may be served in any such action or proceeding by the mailing or delivering of a copy of such process
to such party at its address specified in or pursuant to Section 13. Each of the parties agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. 

        13.    Notices.    All notices and other communications required or permitted hereunder shall be in writing, shall be
deemed duly given upon actual receipt, and shall be delivered (a) in person, (b) by registered or certified mail (air mail if addressed to an address outside of the country in which
mailed), postage prepaid, return receipt requested, (c) by a generally recognized overnight courier service which provides written acknowledgment by the addressee of receipt, or (d) by
facsimile or other generally accepted means of electronic transmission (provided that a copy of any notice delivered pursuant to this clause (d) shall also be sent pursuant to
clause (b)), addressed as set forth in Schedule 1 or to such other addresses as may be specified by like notice to the other parties. 

        14.    Assignments.    Either of the parties may assign its rights hereunder and delegate its duties hereunder, in
whole or in part, to an Affiliate capable to perform the assignor's obligations hereunder, and either of the parties may assign its rights hereunder and delegate its duties hereunder to any person or
entity to which all or substantially all of such party's businesses and assets are pledged or transferred. No such assignment or delegation shall relieve any party of its obligations hereunder. Any
such assignment or delegation authorized pursuant to this Section 14 shall be pursuant to a written agreement in form and substance reasonably satisfactory to the parties and to the Managing
Agents referred to in Section 8 above. Except as otherwise expressly provided herein, neither this Agreement nor any rights, duties or
obligations hereunder may be assigned or delegated by any of the parties, in whole or in part, whether voluntarily, by operation of law or otherwise; provided, however, that Licensor may assign, grant
a security interest in or otherwise transfer its rights to payment hereunder in connection with one or
more financings. Any attempted assignment or delegation in violation of this prohibition shall be null and void. Subject to the foregoing, all of the terms and provisions hereof shall be binding upon,
and inure to the benefit of, the successors and assigns of the parties. Nothing contained herein, express or implied, is intended to confer on any person other than the parties or their respective
successors and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 

        15.    Governing Law.    This Agreement and the legal relations among the parties shall be governed by and construed
in accordance with the laws of the State of California applicable to contracts between California parties made and performed in that State, without regard to conflict of laws principles. 

        16.    Further Assurances.    Each party hereto agrees to execute any and all additional documents and do all things
and perform all acts necessary or proper to further effectuate on evidence this Agreement including any required filings with the U.S. Copyright Office. 

        17.    Counterparts.    This Agreement may be executed in counterparts, each of which shall be an original instrument
and all of which, when taken together, shall constitute one and the same agreement. 

        18.    Severability.    If any provision of this Agreement, or the application thereof, shall for any reason or to any
extent be invalid or unenforceable, then the remainder of this Agreement and application of such provision to other persons or circumstances shall continue in full force and effect 

16

 

and in no way be affected, impaired or invalidated; provided that the aggregate of all such provisions found to be invalid or unenforceable does not materially affect the benefits and obligations of
the parties of the Agreement taken as a whole. 

        19.    Specific Performance.    The parties hereto agree that irreparable damage may occur in the event that any of
the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties may be entitled to an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction pursuant to
Section 12, this being in addition to any other remedy to which they are entitled at law or in equity. 

        20.  [Intentionally
omitted] 

        21.    Participation Agreement.    All the terms and conditions of this Agreement shall at all times be subject to the
terms and conditions of the Participation Agreement dated as of October 2, 1996 by and among UCI, A. Jerrold Perenchio, Grupo Televisa, S.A., Messrs. Gustavo A. Cisneros and Ricardo J.
Cisneros
and CVT, and if there is any inconsistency between any terms and conditions of this Agreement and the terms and conditions of the Participation Agreement, the Participation Agreement shall prevail. 

        22.    Venevision Advertising.    

        (a)  Advertising
time on the Networks, the Stations and the Telefutura Network and the Telefutura Stations which is not sold to advertisers or used by Licensee or its
subsidiaries for their own purposes will be made available without charge to Televisa, Venevision and their Affiliates. Other than as set forth in the following sentence, such time may be used for
promotion or direct sale (i.e., telemarketing) of products or services now or hereafter owned or being provided by Televisa, Venevision or their Affiliates (including, without limitation, theatrical
motion pictures produced or being distributed by any of them). Such time, however, will not be available for any product or service that is marketed primarily by telemarketing that was not owned or
being provided by Televisa, Venevision or their Affiliates as of December 17, 1992, and provided, further, that such time may be preempted by Licensee or its subsidiaries to the extent that
such time is to be sold to a paying advertiser; provided further, such time on the Telefutura Network and the Telefutura Stations shall be limited to no more than 30 seconds per hour for Televisa and
its Affiliates and 30 seconds per hour for Venevision and its Affiliates. 

        (b)  Venevision
and its Affiliates will also (i) receive an aggregate of $5,000,000 per year in advertising and (ii) shall be permitted to purchase additional
advertising time on the Univision Network, the Galavision Network and the Telefutura Network which cannot be preempted by Licensee or its Affiliates which time shall be valued at or sold for, as
applicable, the lowest spot rate then being offered for a non-preemptable spot in the program during which such time is sold. 

        (c)  Venevision
may not, however, directly or indirectly make such free or purchased time available to Persons other than its Affiliates. All material provided for broadcast
by Venevision shall comply with the quality standards for unaffiliated advertisers established by Licensee or its subsidiaries from time to time. The Board of Directors of Licensee, by a vote which
includes, in addition to any other required vote of directors, the affirmative vote of a majority of the Class T Director(s) (so long as a Class T Voting Conversion (as defined in the
Restated Certificate of Incorporation of UCI) has not occurred) or a majority of the Class V Director(s) (so long as a Class V Voting Conversion (as defined in the Restated Certificate
of Incorporation of UCI) has not occurred, may make such rules in connection with the use of such time by Venevision and its Affiliates as it determines to be appropriate, including, 

17

 

without limitation, rules for the fair allocation of such time between Venevision and Televisa and their respective Affiliates. 

        23.    Univision Advertising.    Licensee and its controlled Affiliates will be entitled to an aggregate of $5,000,000
per year in advertising on Licensor's television networks which cannot be preempted by Licensor or its Affiliates which time shall be valued at the lowest spot rate then being offered for a
non-preemptable spot in the program during which such time is sold. Licensee may not, however,
directly or indirectly make such free time available to Persons other than its controlled Affiliates. All material provided for broadcast by Licensee or its controlled Affiliates shall comply with the
quality standards for unaffiliated advertisers established by Licensor from time to time. 

        24.    Internet.    

        (a)  Notwithstanding
anything to the contrary contained in this Agreement, for a period of five (5) years from the Restatement Date, except to the extent permitted by
paragraphs (b) and (c) below, and after the fifth anniversary of the Restatement Date, except to the extent permitted by paragraphs (b) and (c) below, and except to the
extent, if any, otherwise permitted by this Agreement (i) Licensee may not broadcast or otherwise transmit, or permit others to broadcast or otherwise transmit, any Program or any portion
thereof over or by means of the internet, or similar systems, now existing or hereafter developed ("Internet") and (ii) Licensor may not broadcast or otherwise transmit, or permit others to
broadcast or otherwise transmit, Programs covered by this Agreement (or any portion thereof) over or by means of the Internet. 

        (b)  Licensor
shall have the right to broadcast or otherwise transmit, or permit others to broadcast or otherwise transmit, over or by means of the Internet "clips" from
Programs covered by this Agreement so long as (i) in the case of novelas, clips from any episode of a Program may not exceed 30 seconds in the aggregate in duration and no clips may be used
which are from any of the last 5 chapters of any such novela or from any portion of any episode that reveals the resolution of any plot or conflict (provided that such restriction regarding final
chapter clips and clips revealing plot or conflict resolution with respect to any novela shall not be applicable before 6 months prior to UCI's broadcast of such novela and UCI will give
Licensor reasonable notice to enable Licensor to comply with this restriction), (ii) in the case of Programs (other than novelas and sports events) clips from any episode of a Program may not
exceed 60 seconds in the aggregate in duration and (iii) in the case of sports events, clips are (a) to be carried with at least a 5 minute delay from the live event and
(b) limited to highlights of such event of not more than 2 minutes per highlight clip and 10 minutes in the aggregate. 

        (c)  To
the extent appropriate technology exists or is hereafter developed so that video images through a streaming media or other similar application (hereinafter "streaming
video") can be sold through the Internet on a subscription basis, then Licensor and its Affiliates may exploit, or permit others to exploit, outside the Territory the sale of Programs selected by
Venevision (all such Programs being referred to as "Venevision Internet Content") via the Internet on a subscription basis only; provided that Venevision or such other person uses commercially
reasonable efforts to prohibit reception of such Venevision Internet Content in Territory. 

        (d)  After
the fifth anniversary of the Restatement Date, unless the parties otherwise agree in writing, for the purposes of determining the rights of Licensor and its
Affiliates with respect to the Internet, Section 1.3 of this Agreement shall revert to the provisions of Section 1.3 as in effect immediately prior to the date hereof as set forth on
Exhibit A hereto, and no presumption shall be implied or created by the modification to Section 1.3 as of the date hereof, or the agreements and transactions entered into by Licensor and
Licensee and 

18

 

their respective Affiliates as of the date hereof, it being acknowledged and agreed that Licensor and Licensee disagree as to the rights of Licensor and its Affiliates under Section 1.3 as in
effect prior to the Restatement Date and Licensor and Licensee and their respective Affiliates reserve all rights. 

        IN
WITNESS WHEREOF, the parties have set their hands as of the day and year first above written. 

	 	 	VENEVISION INTERNATIONAL CORPORATION
	

 	
 	

By:	
 	

/s/  ALEJANDRO RIVERA      
	 	 	 	 	

	

 	
 	

Title:	
 	

President
	 	 	 	 	

	

 	
 	
UNIVISION COMMUNICATIONS INC.
	

 	
 	

By:	
 	

/s/  C. DOUGLAS KRANWINKLE      
	 	 	 	 	

	

 	
 	

Title:	
 	

EVP
	 	 	 	 	

19

 
 
 

Exhibit A    
  

        1.3  Licensor
and its Affiliates shall have the right and ability to, and to permit others to: (i) transmit or re-transmit in any electronic form or other
means, from any television station in Venezuela, or via
satellite which receives its signal from any earth station or other facility in Venezuela, any Programs which may also be covered by this Agreement, notwithstanding the fact that such transmissions or
re-transmissions may be viewed in the Territory, provided that neither Licensor nor its Affiliates consent to the re-transmission of such Programs by any television station in
the Territory or by any cable system in the Territory; and (ii) market and promote and otherwise generate revenues (including, but not limited to the sale of advertising time) attributable to
the ability of viewers in the Territory to receive such Programs. 

20

 
 
 

GUARANTY    
  

        For and in consideration of the execution by UNIVISION COMMMUNICATIONS INC. ("Licensee") of that Amended and Restated Program License Agreement (the
"License Agreement"), between Licensee and VENEVSION INTERNATIONAL CORPORATION. ("Licensor"), of even date herewith, CORPORACION VENEZOLANA DE TELEVISION, C.A. (VENEVISION) ("Guarantor") hereby agrees
as follows: 

	1.
	Guarantor
confirms and joins in the representations and warranties made by Licensor in Section 6 of the License Agreement.

	2.
	Guarantor
agrees that for the term of the License Agreement it will use commercially reasonable efforts to produce or acquire Programs for Licensor's use at least to the same extent
including quality and quantity as Guarantor has in 1989, 1990 and 1991; provided nothing herein shall require Guarantor to produce any particular type or mix of programs.

	3.
	Guarantor
guarantees the full performance by Licensor of all of its obligations under the License Agreement and further agrees to be bound, and cause its Affiliates to be bound, by the
provisions of the License Agreement applicable to it or such Affiliates, as the case may be.

	4.
	Guarantor
irrevocably submits to the jurisdiction of any California State or United States Federal court sitting in Los Angeles County in any action or proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby, and irrevocably agrees that any such action or proceeding may be heard and determined only in such California State or Federal
court. Guarantor irrevocably waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of any such action or proceeding. Guarantor irrevocably
appoints CT Corporation System (the "Process Agent"), with an office on the date hereof at 818 West 7th Street, Los Angeles, CA 90017 as its agent to receive on behalf of it and its property service
of copies of the summons and complaint and any other process which may be served in any such action or proceeding. Such service
may be made by delivering a copy of such process to Guarantor in care of the Process Agent at the Process Agent's above address, and Guarantor irrevocably authorizes and directs the Process Agent to
accept such service on its behalf. As an alternate method of service, Guarantor consents to the service of copies of the summons and complaint and any other process which may be served in any such
action or proceeding by the mailing or delivering of a copy of such process to Licensor at its address specified in or pursuant to Section 13 of the License Agreement. Guarantor agrees that a
final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

	5.
	This
Agreement and the legal relations among the parties shall be governed by and construed in accordance with the laws of the State of California applicable to contracts between
California parties made and performed in that State, without regard to conflict of laws principles.

	6.
	Guarantor
agrees that its obligations hereunder (the "Obligations") are irrevocable, absolute, independent, unconditional and continuing, and shall not be subject to any limitation,
impairment or discharge for any reason, including any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than indefeasible performance in full of the
Obligations. Guarantor hereby waives notice of acceptance of this guaranty, presentments, notices of default, nonpayment, partial payments and protest, all other notices or formalities, any right to
require prosecution of collection or remedies against Licensor or any other person or entity or to pursue any other remedy in Licensee's power. Without limiting the generality of any other waiver or
provision set forth herein, Guarantor hereby waives, to the maximum extent such waiver is permitted by law, any and all defenses arising directly or indirectly under any one or more of California
Civil Code §§ 2808, 2809, 2810, 2815, 2819, 2839, 2849, 2850, 2899 and 3433. Guarantor 

21

 

agrees
that one or more, and successive and/or concurrent, actions may be brought against it, either in the same action in which Licensor or any other person is sued on in separate actions and that
the cessation of the liability of Licensor for any reason, other than full payment and performance of the Obligations, shall not in any way affect the liability of the undersigned hereunder. 

The
rights, powers and remedies given to Licensee by this Guaranty are cumulative and shall be in addition to and independent of all rights, powers and remedies given to Licensee by virtue of any
statute or rule of law or in the License Agreement. Any forbearance or failure to exercise, or any delay by Licensee in exercising, any right, power or remedy hereunder shall not impair any such
right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise of any such right, power or remedy. 

In
case any provision in or Obligation under this Guaranty shall be invalid, illegal or unenforceable in any jurisdictions the validity, legality and enforceability of the remaining provisions or
Obligations, or of such provision or Obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 

This
Guaranty is a continuing guaranty and shall be binding upon Guarantor and its successors and assigns. This Guaranty shall inure to the benefit of Licensee and its successors and assigns. 

To
the extent Guarantor is guaranteeing payment obligations of Licensor under the terms of the License Agreement ("Payment Obligations"), this guaranty is a guaranty of payment when due and not of
collectibility. Licensee may from time to time, without notice or demand and without affecting the validity or enforceability of this Guaranty or giving rise to any limitation, impairment or discharge
of Guarantor's liability hereunder, (i) settle, compromise, release or discharge, or accept or refuse any offer of performance with respect to, or substitutions for, the obligations of Licensor
or any agreement relating thereto; (ii) have stayed or enjoined, by order of court, by operation of law or otherwise, the exercise or enforcement of, any claim or demand or any right, power or
remedy with respect to the obligations of Licensor or any agreement relating thereto; (iii) waive, amend or modify, or consent to departure from, any of the terms or provisions of the License
Agreement; and (iv) omit or delay in doing any act or thing, which may or might in any manner or to any extent vary the risk of Guarantor as an obligor in respect of the Obligations. 

Guarantor
hereby waives, for the benefit of the Licensee: (i) any defense arising by reason of the incapacity or lack of authority of Licensor; (ii) any defense based upon any statute or
rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; and (iii) any principles or
provisions of law, statutory or otherwise, which are or might be in conflict with the terms of this Guaranty and any legal or equitable discharge of Guarantor's Obligations hereunder. 

Until
any Payment Obligations shall have been paid in full, Guarantor shall withhold exercise of any right of subrogation. Guarantor further agrees that, to the extent the withholding of its rights of
subrogation as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation Guarantor may have against Licensor shall be junior and
subordinate to any rights Licensee may have against Licensor. 

In
the event that all or any portion of any Payment Obligations are paid by Licensor, the obligations of Guarantor hereunder shall continue and remain in full force and effect or be reinstated, as the
case may be, in the event that all or any part of such payment(s) are rescinded or recovered directly or indirectly from Licensee as a preference, fraudulent transfer or otherwise, and any such
payments which are so rescinded or recovered shall constitute Payment Obligations for all purposes under this Guaranty. 

22

 

	7.
	Guarantor
shall not be liable for or suffer any penalty or termination of rights hereunder by reason of any failure or delay in performing any of its obligations hereunder if such
failure or delay is occasioned by compliance with governmental regulation or order, or by circumstances beyond the reasonable control of Guarantor, including but not limited to acts of God, war,
insurrection, fire, flood,
accident, strike or other labor disturbance, interruption of or delay in transportation. Guarantor shall promptly notify Licensee in writing of any such event of force majeure, the expected duration
thereof, and its anticipated effect on Licensee and make reasonable efforts to remedy any such event, except Guarantor shall be under no obligation to settle a labor dispute. 

        IN
WITNESS WHEREOF, the parties have set their hands as of the day and year first above written. 

	

 	
 	

 	
 	

DATED:
	 	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

 	
 	

CORPORACION VENEZOLANA

DE TELEVISION, C.A. (VENEVISION)
	

 	
 	

 	
 	

 	
 	

By:
	 	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

 	
 	

By:	
 	

/s/  ALEJANDRO RIVERA      

	 	 	 	 	 	 	 	 	Name:	 	Alejandro Rivera
	

 	
 	

 	
 	

 	
 	

 	
 	

Title:	
 	
Attorney in Fact
	

Accepted and Agreed:	
 	

 	
 	

 	
 	

 	
 	

 
	

UNIVISION COMMUNICATIONS INC.	
 	

 	
 	

 	
 	

 	
 	

 
	

By:	
 	

/s/  C. DOUGLAS KRANWINKLE      
	
 	

 	
 	

 	
 	

 	
 	

 
	Its:	 	EVP
	 	 	 	 	 	 	 	 

23

 

Schedule 1  

 
 

NOTICES    
  

	 
	 	 
	 	 
	 	 

	 	 	(i)	 	If to Licensee:
	

 	
 	

 	
 	

 	
 	

1999 Avenue of the Stars, Suite 3050

Los Angeles, California 90067

Attn: C. Douglas Kranwinkle

Telecopier: (310) 556-3568
	

 	
 	

 	
 	

with a copy to:
	 	 	 	 	 	 	O'Melveny & Myers

1999 Avenue of the Stars, Suite 700

Los Angeles, California 90067

Attn: Kendall R. Bishop

Telecopier: (310) 246-6779
	

 	
 	

(ii)	
 	

 	
 	

If to Licensor:
	

 	
 	

 	
 	

 	
 	

c/o Venevision International, Inc.

550 Biltmore Way

Coral Gables, Florida 33134

Attn: Alejandro Rivera

Telecopier: (305) 445-9667
	

 	
 	

 	
 	

with copies to:
	

 	
 	

 	
 	

 	
 	

Venevision International, Inc.

550 Biltmore Way

Coral Gables, Florida 33134

Attn: Eduardo Hernandez

Telecopier: (305) 447-1389
	 	 	 	 	and
	

 	
 	

 	
 	

 	
 	

Milbank, Tweed, Hadley & McCloy

One Chase Manhattan Plaza

New York, New York 10005

Attention: Robert S. O'Hara, Jr., Esq.

Telecopier: (212) 530-5219

24

QuickLinks

Exhibit 10.6

Exhibit A

GUARANTY

NOTICES

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