Document:

<PAGE>
                                  EXHIBIT 10.93

                              AMENDED AND RESTATED
                          SECURITY AND PLEDGE AGREEMENT

     AGREEMENT, made this 2nd day of April 2003, effective the 2nd day of
January 2003, by and between THE MAJOR AUTOMOTIVE COMPANIES, INC. (F/K/A
FIDELITY HOLDINGS, INC.), a Nevada corporation, having an office at 43-40
Northern Boulevard, Long Island City, New York 11101 (the "Company") and M&K
EQUITIES LTD., a New York corporation, having an address at 130 Crossways Park
Drive, Woodbury, New York 11797 ("M&K").

                              W I T N E S S E T H :

     WHEREAS, the Company has issued to M&K a certain amended and restated note
of even date herewith in the principal amount of $1,400,000 (the "Note") in
consideration of a $1,400,000 loan from M&K on December 11, 2000 (the "Loan");
and

     WHEREAS, in order to induce M&K to make the Loan, the Company has agreed to
grant a lien on and security interest in all of its assets as collateral
security for the due payment and performance of all indebtedness, liabilities
and obligations under the Note; and

     WHEREAS, except as to those terms otherwise defined in this Security
Agreement, all capitalized terms used herein shall have the respective meanings
ascribed to them in the Note.

     NOW, THEREFORE, in consideration of the foregoing, the Company hereby
agrees with M&K as follows:

1.   Security Interest.

     To secure the due payment and performance of all indebtedness and other
liabilities and obligations, whether now existing or hereafter arising, of the
Company to M&K under, arising out of or in any way connected with the Note, and
all instruments, agreements and documents executed, issued and delivered
pursuant thereto, including, without limitation, this Security Agreement, all
hereinafter referred to collectively as the "Obligations," the Company hereby
assigns, mortgages, pledges, hypothecates, transfers and sets over to M&K and
grants to M&K a lien (subject to the provisions of Section 2 below) upon and
security interest in all assets of the Company set forth, referred to, or listed
on, Schedule "I" annexed thereto and made a part hereof (all herein after
referred to as the "Collateral").

2.   Company's Title; Liens and Encumbrances.

     The Company represents and warrants that it is, or, to the extent that this
Security Agreement states that the Collateral is to be acquired after the date
hereof, will be, the owner of the Collateral, having good and marketable title
thereto, free from any and all liens, security interests, encumbrances and
claims, except as set forth on Schedule A hereto.

                                       1
<PAGE>
3.   Location of Collateral and Records.

     The Company represents and warrants that it has no place of business,
offices where the Company's books of account and records are kept, or places
where the Collateral is used, stored or located, except as set forth on Schedule
II annexed hereto, and covenants that the Company will promptly notify M&K of
any change in the foregoing representation. The Company shall at all times
maintain its records as to the Collateral at its chief place of business at the
address referred to on Schedule II and at none other.

4.   Perfection of Security Interest.

     The Company will join with M&K in executing one or more financing
statements pursuant to the Uniform Commercial Code or other notices appropriate
under applicable law in form satisfactory to M&K and will pay all filing or
recordings costs with respect thereto, and all costs of filing or recording this
Security Agreement or any other instrument, agreement or document executed and
delivered pursuant hereto or to the Note (including the costs of all Federal,
state or local mortgage, documentary, stamp or other taxes), in each case, in
all public offices where filing or recording is deemed by M&K to be necessary or
desirable. The Company hereby authorizes M&K to take all action (including,
without limitation, the filing of any Uniform Commercial Code Financing
Statements or amendments thereto without the signature of the Company) which M&K
may deem necessary or desirable to perfect or otherwise protect the liens and
security interests created hereunder and to obtain the benefits of this Security
Agreement.

5.   General Covenants.

     The Company shall:

     a. furnish M&K from time to time at M&K's written request written
statements and schedules further identifying and describing the Collateral in
such detail as M&K may reasonably require;

     b. advise M&K promptly, in sufficient detail, of any substantial change in
the Collateral, and of the occurrence of any event which would have an adverse
effect on the value of the Collateral or on M&K's security interest therein; and

     c. promptly execute and deliver to M&K such further deeds, mortgages,
assignments, security agreements, financing statements or other instruments,
documents, certificates and assurances and take such further action as M&K may
from time to time in its reasonable discretion deem necessary to perfect,
protect or enforce its security interest in the Collateral or otherwise to
effectuate the intent of this Security Agreement and the Note.

     d. The Company will not assign, transfer, sell, lease or otherwise dispose
of or abandon any Collateral, nor will The Company suffer or permit any of the
same to occur

                                       2
<PAGE>
with respect to any Collateral, without prior written notice to and consent of
Secured Party, except for the sale or lease from time to time in the ordinary
course of business of such items of the Collateral as may constitute inventory;

     e. The Company will use the Collateral for lawful purposes only, with all
reasonable care and caution and in conformity with all applicable laws,
ordinances and regulations;

     f. The Company will pay M&K for any reasonable and necessary sums, costs,
and expenses which M&K may pay or incur pursuant to the provisions of this
Agreement or in negotiating, executing, perfecting, amending, defending,
protecting or enforcing this Agreement or the security interest granted herein
or in enforcing payment of the Obligations or otherwise in connection with the
provisions hereof, including but not limited to court costs, collection charges,
travel expenses, and reasonable attorneys fees, all of which, together with
interest at the highest rate then payable on any of the Obligations, shall be
part of the Obligations and be payable on demand;

     g. in its discretion, M&K may, at any time and from time to time, with
prior written notice to the Company, assign, transfer or deliver to any
transferee of any Obligations, any Collateral, whereupon M&K shall be fully
discharged from all responsibility and the transferee shall be vested with all
powers and rights of M&K hereunder with respect thereto, but M&K shall retain
all rights and powers with respect to any Collateral not assigned, transferred
or delivered;

     h. The Company has made, and will continue to make, payment or deposit, or
otherwise has provided and will provide for the payment, when due, of all taxes,
assessments or contributions or other public or private charges which have been
or may be levied or assessed against the Company, whether with respect to any
Collateral, to any wages or salaries paid by the Company, or otherwise, and will
deliver to Secured Party, on demand, certificates or other evidence satisfactory
to M&K attesting thereto, provided, however, that the Company shall not be
required to pay and discharge any such tax, assessment, charge, levy or claim so
long as the validity thereof shall be contested in good faith by appropriate
proceedings and the Company shall set aside on its books adequate reserves with
respect to any such tax, assessment, charge, levy or claim so contested;

     i. Upon prior written notice to the Company, M&K shall at all times have
free access to and right of inspection of the Collateral and any records
pertaining thereto (and the right to make extracts from and to receive from the
Company originals or true copies of such records and any papers and instruments
relating to any Collateral upon request therefor); and

     j. The Company shall not incur any indebtedness senior to that evidenced by
the Note and the Company shall not increase the amount of any Senior
Indebtedness (as such term is defined in the Note), in either event without the
prior written consent of M&K; provided, however, that the foregoing shall not
require the approval of M&K for the Company to incur any "floor plan" or similar
financing, which shall be expressly permitted to be incurred by the Company.

                                       3
<PAGE>
6.   Fixtures.

     It is the intent of the Company and M&K that none of the Collateral is or
shall be fixtures, as that term is used or defined in Article 9 of the Uniform
Commercial Code, and the Company represents and warrants that it has not made
and is not bound by any lease or other agreement which is inconsistent with such
intent. Nevertheless, if the Collateral or any part thereof is or is to become
attached or affixed to any real estate, the Company will, upon request by M&K,
use its best efforts to cause all persons having an interest in the real estate
to which the Collateral is attached or affixed to furnish M&K with a disclaimer
or subordination, in form satisfactory to M&K, of their interests in the
Collateral, and the Company, upon request by M&K, will furnish M&K with the
names and addresses of the record owners of, and all other persons having
interest in, and a general description of, such real estate.

7. Rights and Remedies on Default. (a) In the event of the occurrence of any
Event of Default as defined or specified in the Note, subject to the rights of
the holders of the Senior Indebtedness (as such term is defined under the Note),
M&K shall at any time thereafter have the right, with advance notice to the
Company, as to any or all of the Collateral, by any available judicial
procedure, to take possession of the Collateral, and, generally, to exercise any
and all rights afforded to a secured party under the Uniform Commercial Code or
other applicable law.

     (b) M&K may apply the cash proceeds actually received from any sale or
other disposition of Collateral to the reasonable expenses of retaking, holding,
preparing for sale, selling, leasing and the like, to reasonable attorneys' fees
and all legal, travel and other expenses which may be incurred by M&K in
attempting to collect the Obligations or enforce this Agreement or in the
prosecution or defense of any action or proceeding related to the subject matter
of this Agreement; and then to the Obligations first to accrued and unpaid
interest and the unpaid principal under the Note; and the Company shall remain
liable and will pay M&K on demand any deficiency remaining after the application
of such cash proceeds, together with interest thereon at the highest rate then
payable on the Obligations, and the balance of any expenses unpaid, with any
surplus to be paid to the Company, subject to any duty of M&K imposed by law to
the holder of any subordinate security interest in the Collateral known to
Secured Party.

8.   Costs and Expenses.

     Any and all reasonable fees, costs and expenses, of whatever kind or
nature, in connection with the filing or recording of financing statements and
other documents (including all taxes in connection therewith) in public offices,
the payment or discharge of any taxes, insurance premiums, encumbrances or
otherwise protecting, maintaining or preserving the Collateral, or the
enforcing, foreclosing, collecting, retaking, holding, storing, processing,
selling or otherwise realizing upon the Collateral and M&K's security interest
therein, whether through judicial proceedings or otherwise, or in defending or
prosecuting any actions or proceedings arising out of or related to the
transactions to which this Security Agreement relates, shall be added to the
principal amount of the Obligations and shall bear interest at the rate
prescribed in the Note.

                                       4
<PAGE>
9.   Power of Attorney.

     In the event of the occurrence of an Event of Default under the Note, the
Company hereby authorizes M&K and does hereby make, constitute and appoint M&K,
and any agent of M&K with full power of substitution, as the Company's true and
lawful attorney-in-fact, with power, in its own name or in the name of the
Company, to endorse any note, checks, drafts, money orders or other instruments
of payment (including payments payable under or in respect of any policy of
insurance) in respect of the Collateral that may come into possession of the
Company; to sign and endorse any invoice, freight or express bill, bill of
lading, storage or warehouse receipts, drafts against the Company, assignments,
verifications and notices in connection with accounts, and other documents
relating to Collateral; to pay or discharge taxes, liens, security interests or
other encumbrances at any time levied or placed on or threatened against the
Collateral; to demand, collect, receipt for, compromise, settle and sue for
monies due in respect of the Collateral; and, generally, to do, at the Company's
option and at the Company's expense, at any time, or from time to time, all acts
and things which M&K deems reasonably necessary to protect, preserve and realize
upon the Collateral and M&K's security interest therein in order to effect the
intent of this Security Agreement and the Note all as fully and effectually as
the Company might or could do; and the Company hereby ratifies all that said
attorney shall lawfully do or cause to be done by virtue hereof. This power of
attorney shall be irrevocable for the term of this Security Agreement and
thereafter as long as any of the Obligations shall be outstanding.

10.  Notices.

     Any notices required or permitted to be sent hereunder shall be delivered
personally or by an overnight courier service or mailed via certified mail,
return receipt requested to a party at the address set forth at the beginning of
this Security Agreement or such other address as any party hereto designates by
written notice to the other, and shall be deemed to have been given upon
delivery, if delivered personally or by overnight courier service, with receipt
acknowledged or three business days after mailing, if mailed in accordance with
the foregoing provisions.

11.  Miscellaneous.

     a. Beyond the safe custody thereof, M&K shall have no duty as to the
collection of any Collateral in its possession or control or in the possession
or control of any agent or nominee of M&K, or any income thereon or as to the
preservation of rights against prior parties or any other rights pertaining
thereto.

     b. No course of dealing between the Company and M&K, nor any failure to
exercise, nor any delay in exercising, on the part of M&K, any right, power or
privilege hereunder or under the Note shall operate as a waiver thereof; nor
shall any single or partial exercise of any right, power or privilege hereunder
or thereunder preclude any other or further exercise thereof or the exercise of
any other right, power or privilege.

                                       5
<PAGE>
     c. All of M&K's rights and remedies with respect to the Collateral, whether
established hereby, by the Note or by any other agreements, instruments or
documents or by law shall be cumulative and may be exercised singly or
concurrently.

     d. The provisions of this Security Agreement are severable, and if any
clause or provision shall be held invalid or unenforceable in whole or in part
in any jurisdiction, then such invalidity or unenforceability shall affect only
such clause or provision, or part thereof, in such jurisdiction and shall not in
any manner affect such clause or provision in any other jurisdiction, or any
other clause or provision of this Security Agreement in any jurisdiction.

     e. This Security Agreement is subject to modification only by a writing
signed by the parties.

     f. The benefits and burdens of this Security Agreement shall inure to the
benefit of and be binding upon the respective successors and assigns of the
parties; provided however, that the rights and obligations of the Company under
this Security Agreement shall not be assigned or delegated without the prior
written consent of M&K, and any purported assignment or delegation without such
consent shall be void.

12.  Term of Agreement.

     The term of this Security Agreement shall commence on the date hereof and
this Security Agreement shall continue in full force and effect, and be binding
upon the Company, until all of the Obligations have been fully paid and
performed and such payment and performance has been acknowledged in writing by
M&K, whereupon this Security Agreement shall terminate.

13.  Governing Law.

     This Security Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of New York. The parties hereby: (i) in
any legal proceeding brought in connection with this Agreement or the
transactions contemplated hereby, irrevocably submit to the nonexclusive in
personam jurisdiction of (A) any state or Federal court of competent
jurisdiction sitting in the State of New York, County of New York or (B) in the
event that any party is a defendant in any legal proceeding in which it seeks to
join the other as a third party defendant, then, any state or Federal court in
which such proceeding has properly been brought, and consent to suit therein;
and (ii) waive any objection they or it may now or hereafter have to the venue
of such proceeding in any such court or that such proceeding was brought in an
inconvenient court.

14. WAIVER OF TRIAL BY JURY, ETC. (a) THE COMPANY HEREBY IRREVOCABLY WAIVES, IN
CONNECTION WITH ANY SUCH ACTION OR PROCEEDING, (I) TRIAL BY JURY, (II) ANY
OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE
OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING

                                       6
<PAGE>
IN SUCH RESPECTIVE JURISDICTIONS AND (III) THE RIGHT TO INTERPOSE ANY SETOFF,
NON-COMPULSORY COUNTERCLAIM OR CROSS-CLAIM.

     (b) THE COMPANY IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OF ANY OF
THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF
COPIES THEREOF BY CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY AT ITS ADDRESS
DETERMINED PURSUANT TO SECTION 10 HEREOF. NOTHING HEREIN SHALL AFFECT THE RIGHT
OF M&K TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE
LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN ANY OTHER
JURISDICTION.

                                       7
<PAGE>
     IN WITNESS WHEREOF, the parties have caused these presents to be duly
executed and delivered the day and year first above written.

                                       THE MAJOR AUTOMOTIVE COMPANIES, INC.

                                       By:
                                       Bruce Bendell
                                       President, Chief Executive Officer and
                                       Acting Chief Financial Officer

                                       M&K EQUITIES LIMITED

                                       By:
                                       Jeff Weiner, President

                                       8
<PAGE>
                                   SCHEDULE I

All of the Company's right, title and interest in, under and to the following
(collectively, the "Collateral"):

(A) Accounts Receivable, including (i) all of the Company's present and future
accounts, contract rights, general intangibles, chattel paper and instruments,
as such terms are defined in the Uniform Commercial Code, (ii) all of the
Company's right, title and interest, and all or any of the Company's rights,
remedies, security and liens, in, to and in respect of any Accounts Receivable,
including, without limitation, rights of stoppage in transit, replevin,
repossession and reclamation and other rights and remedies of an unpaid vendor,
lienor or secured party, guaranties or other contracts of suretyship with
respect to Accounts Receivable, deposits or other security for the obligation of
any account the Company, and credit and other insurance and (iii) all of any of
the Company's right, title and interest in, to and in respect of all goods
relating to, or which by sale have resulted in, Accounts Receivable, including,
without limitation, all goods described in invoices or other documents or
instruments with respect to, or otherwise representing or evidencing, any
Account Receivable, and all returned, reclaimed or repossessed goods; (B)
Documents, including all instruments, files, records, ledger sheets and
documents covering or relating to any of the Collateral; (C) Equipment,
including all of the Company's machinery, equipment, vehicles that are owned by
the Company, furniture and fixtures and all attachments, accessories and
equipment now or hereafter owned or acquired in the Company's business or used
in connection therewith, and all substitutions and replacement thereof, wherever
located, whether now owned or hereafter acquired by the Company; (D) General
Intangibles, including all of the Company's present and future general
intangibles of every kind and description, including (without limitation)
copyrights, trade names and trademarks and the goodwill of the business
symbolized thereby, and Federal, State and local tax refund claims of all kinds
due to the Company; (E) Inventory, including all raw materials, work in process,
finished goods, and all other inventory (as defined in the Uniform Commercial
Code) of whatsoever kind or nature, and all wrapping, packaging, advertising and
shipping materials, and any documents relating thereto, and all labels and other
devices, names or marks affixed or to be affixed hereto for purposes of selling
or of identifying the same or the seller or manufacturer thereof and all of the
Company's right, title and interest therein and thereto, wherever located,
whether now owned or hereafter acquired by the Company; (F) Proceeds, including
any consideration received from the sale, exchange, lease or other disposition
of any asset or property which constitutes Collateral, any value received as a
consequence of the possession of any Collateral and any payment received from
any insurer or other person or entity as a result of the destruction, loss,
theft or other involuntary conversion of whatever nature of any asset or
property which constitutes Collateral, and shall include, without limitation,
all cash and negotiable instruments received or held by the Company pursuant to
any lockbox or similar arrangement relating to the payment of Accounts
Receivable; and (G) Capital Stock of the Debtor, warrants, options and other
rights to acquire capital stock of all subsidiaries and affiliates of the
Company.

                                       9
<PAGE>
                                   SCHEDULE II

CHIEF PLACE OF BUSINESS OF FIDELITY HOLDINGS, INC. AND LOCATION OF COLLATERAL:

FIDELITY HOLDINGS, INC.
43-40 Northern Boulevard
Long Island City, New York 11101

                                       10
<PAGE>
                                   Schedule A

                                Prior Lienholders

Zvi Barak and Sarah Barak
Fujitsu Business Comm Systems
Mazda American Credit
Marine Midland Bank (HSBC Bank)

                                       11<PAGE>

                                                                   EXHIBIT 4.7.3

                       AMENDMENT NO. 4 AND WAIVER NO. 1 TO

               $100,000,000 AMENDED AND RESTATED CREDIT AGREEMENT

         AMENDMENT NO. 4 and WAIVER NO. 1, dated as of January 23, 2003 (this
"AMENDMENT NO. 4"), to the $100,000,000 Amended and Restated Credit Agreement
dated June 26, 2001 (as heretofore amended, amended and restated and
supplemented, the "CREDIT AGREEMENT") among Key3Media Group, Inc., a Delaware
corporation, the Guarantors party thereto, the Lenders party thereto, Morgan
Stanley Senior Funding, Inc. ("MSSFI"), as Sole Lead Arranger and Sole
Book-Runner, Morgan Stanley & Co. Incorporated ("MSCI"), as Collateral Agent,
The Bank of New York, as Syndication Agent, Fleet National Bank and BNP Paribas,
each as Co-Documentation Agent, UBS Warburg LLC, as Documentation Agent, and
MSSFI, as Administrative Agent.

                              W I T N E S S E T H :

         WHEREAS, Key3Media Group, Inc. (the "BORROWER") is the borrower under
the Loan Documents (as defined in the Credit Agreement);

         WHEREAS, Key3Media Events, Inc. ("EVENTS"), Key3Media Advertising,
Inc., Key3Media BCR Events, Inc., Key3Media Von Events, Inc. and Key3Media
BioSec Corp. (collectively, the "GUARANTORS") are guarantors under the Loan
Documents, including, without limitation, the Credit Agreement as supplemented
by the Subsidiary Guaranty Supplement dated September 25, 2001 and the
Subsidiary Guaranty Supplement dated November 13, 2002;

         WHEREAS, the Borrower and the Guarantors are grantors under the
Collateral Documents, including, without limitation, the Amended and Restated
Security Agreement dated June 26, 2001 as supplemented by the Security Agreement
Supplement dated September 25, 2001;

         WHEREAS, the Borrower has asked the Lenders, and the Lenders party
hereto are willing, on the terms and conditions set forth below and for a
limited period only, to waive compliance with certain provisions of, and to
waive certain Defaults and Events of Default (as defined in the Credit
Agreement) that may exist;

         WHEREAS, the Borrower has asked the Lenders to provide it with new
value consisting of, inter alia, the waivers contained herein, a consent to the
asset sale described below and the agreement not to receive the proceeds from
such sale of Collateral;

         WHEREAS, pursuant to the request of the Required Lenders signatory
hereto, MSSFI has agreed to resign as Administrative Agent and MSCI has agreed
to resign as Collateral Agent;

         WHEREAS, in connection with the foregoing resignations, each of the
Lender Parties hereto and each of the Loan Parties have heretofore indicated
their willingness, on the terms and conditions set forth below, to appoint, or
in the case of each Loan Party, to approve, a successor

<PAGE>

Administrative Agent and Collateral Agent and to amend certain provisions of the
Credit Agreement, all as more fully described herein;

         NOW, THEREFORE, the parties hereto agree as follows:

         Section 1. Defined Terms; References. Unless otherwise specifically
defined herein, each term used herein that is defined in the Credit Agreement
has the meaning assigned to such term in the Credit Agreement.

         Section 2. Waivers. (a) Liens. The Lenders party hereto hereby agree to
waive, on an interim basis until Waiver Termination (as defined below) only, any
Default or Event of Default that may have occurred or may occur solely by reason
of the Borrower's failure to observe the covenant in Section 5.02(a) of the
Credit Agreement due solely to any attachment by Interface Group-Massachusetts,
LLC ("INTERFACE") of up to an aggregate amount of (x) $711,111.04 of any of the
following property: (i) $67,321.43 held in an account in the name of Events at
Citizen's Bank of Massachusetts, (ii) certain personal property of Events not to
exceed $711,111.04 as identified in the Finding and Order dated September 26,
2002 issued by the Superior Court Department of the Trial Court of the
Commonwealth of Massachusetts in Civil Action No. 01-01755 and (iii) property of
Events located in the State of California not to exceed $661,477.83 pursuant to
the Writ of Attachment dated October 24, 2002 issued by the Los Angeles County
Superior Court in Case No. BC 280084 and (y) other property of Events not to
exceed $1,000,000 in the aggregate; provided, however, that the Borrower shall
give the Administrative Agent notice on the same day that it receives notice
(whether oral or written) of any new attachments by Interface or any other party
on any property of any Loan Party.

         (b)      EBITDA. The Lenders party hereto hereby agree to waive, on an
interim basis until Waiver Termination only, any Default or Event of Default
that may have occurred or may occur solely by reason of the failure of the
Borrower to comply with Section 5.04(i)(a)(3) of the Credit Agreement.

         (c)      Deposit Accounts. The Lenders party hereto hereby agree to
waive, on an interim basis until Waiver Termination only, any Default or Event
of Default that may have occurred or may occur solely by reason of the failure
of any Loan Party to deliver to the Collateral Agent, pursuant to Section
5.01(o)(iv) of the Credit Agreement, executed account control agreements with
respect to the accounts listed on Schedule 1 hereto.

         (d)      Bond Interest Payment. The Lenders party hereto hereby agree
to waive on an interim basis until Waiver Termination only, any Default or Event
of Default arising under Section 6.01(e) of the Credit Agreement that may have
occurred or may occur solely by reason of the failure of the Borrower to make
the interest payment due on December 16, 2002 under the Borrower's Subordinated
Debt Indenture dated June 26, 2001.

         (e)      Repurchase of Convertible Preferred Stock. The Lenders party
hereto hereby agree to waive any Default or Event of Default that may have
occurred or may occur solely by reason of the Borrower's failure to observe the
covenant in Section 5.02(g) of the Credit Agreement due solely to the Borrower's
purchase of a total of 1,400,000 shares of the Borrower's Series B 5.5%
Convertible Redeemable Preferred Stock pursuant to (i) the Sale

                                       2

<PAGE>

Agreement dated November 7, 2002 among the Borrower, Trinity Fund, Ltd. and
Spirit Fund. Ltd. and (ii) the Sale Agreement dated November 25, 2002 among the
Borrower, ValueAct Capital Partners, L.P., ValueAct Capital Partners II. L.P.
and ValueAct Capital International, Ltd.

         (f)      Waiver of Change of Control. The Lenders party hereto hereby
agree to waive any Default or Event of Default that may have occurred or may
occur solely by reason of the sales to Triax Holdings Ltd. on December 20, 2002
(i) by SoftBank America, Inc. of 36,699,868 shares of common stock of the
Borrower and (ii) by Softbank Holdings Inc. of 332 shares of common stock of the
Borrower.

         (g)      Period of Effectiveness. The waivers set forth in clauses (a),
(b), (c) and (d) above shall be effective solely during the period commencing on
the effectiveness of this Amendment No. 4 and ending at Waiver Termination, at
which time the foregoing waivers shall terminate and be of no further force or
effect. "WAIVER TERMINATION" means the earliest to occur of:

                  (i)      12:01 A.M. (New York time) on February 1, 2003;

                  (ii)     the occurrence of any Default or Event of Default,
         other than as addressed herein, under the Loan Documents; and

                  (iii)    other than with respect to (x) Obligations under the
         Loan Documents or (y) the attachments waived pursuant to Section 2(a),
         the commencement by any holder of Debt or other obligations of the
         Borrower or any of its Restricted Subsidiaries of the exercise of any
         remedy (including, without limitation, acceleration or the making of a
         demand under any guaranty entered into in connection therewith) or the
         taking of any other action in furtherance of collection or enforcement
         of any claim or Lien against the Borrower or any of its Subsidiaries or
         any of their respective assets.

         (h)      Limited Effect. Except as provided in clauses (a), (b), (c),
(d), (e) or (f) above, this Section 2 shall not operate as a waiver of any
right, remedy, power or privilege of the Administrative Agent or the Lender
Parties under the Credit Agreement or any other Loan Document or of any other
term or condition of the Credit Agreement or any other Loan Document. Without
limiting the generality of the foregoing, upon Waiver Termination, the
Administrative Agent or the Lender Parties may proceed to exercise any and all
of their respective rights and remedies, including, without limitation, their
rights and remedies in connection with any then-existing Default or Event of
Default referred to clauses (a), (b), (c) or (d) in this Section 2.

         Section 3. Waiver Of And Consent To Von Asset Sale. The Lender Parties
hereto hereby agree to waive any Default or Event of Default that may occur
solely by reason of the Borrower's failure to observe the covenant in Section
5.02(e)(ii) of the Credit Agreement due solely to the transactions contemplated
by the Von Sale Agreement (as defined below), and the Collateral Agent is hereby
directed upon the Administrative Agent's receipt of the Closing Amount (x) to
deliver to the purchaser an executed "Release of Intellectual Property Security
Interest" in form and substance satisfactory to the Collateral Agent covering
Collateral sold pursuant to the Von Sale Agreement and (y) to deliver to the
purchaser a UCC-3 in the form

                                       3

<PAGE>

previously provided to the Borrower by Collateral Agent. The Borrower hereby
represents and warrants that, other than the current employment of Jeffrey
Pulver by the Borrower, the purchasers under the Von Sale Agreement are not
affiliated in any way with any Loan Party or any officer or director thereof.

         Section 4. Confirmation By Loan Parties Of Obligations. (a) The Loan
Parties acknowledge and agree that the aggregate principal amount of the
Revolving Credit Advances, Letter of Credit Advances, Term Loan Advances and
Available Amount under outstanding Letters of Credit under the Credit Agreement
as of January 23, 2003 are as follows:

<TABLE>
----------------------------------------------------------------
<S>                                                 <C>
Revolving Credit Advances                           $ 80,000,000
----------------------------------------------------------------
Letter of Credit Advances                           $  1,768,986
----------------------------------------------------------------
Term Loan Advances                                  $          0
----------------------------------------------------------------
Advances                                            $ 81,768,986
----------------------------------------------------------------
Available Amount under outstanding                  $          0
----------------------------------------------------------------
Letters of Credit
----------------------------------------------------------------
</TABLE>

The foregoing amounts do not include accrued and unpaid interest, fees, expenses
and other amounts that are chargeable or otherwise reimbursable under the Loan
Documents. Each Loan Party agrees and acknowledges that it has no right of
offset, defense or counterclaim with respect to any of the foregoing
obligations.

         Section 5. Limitation On New Extensions Of Credit. The Borrower and the
Lenders party hereto hereby agree that at all times after the date hereof (a)
the sum of the Advances and the Available Amount under outstanding Letters of
Credit shall not exceed $81,768,986 (such excess, the "MAXIMUM AMOUNT"), and (b)
the Borrower shall not deliver, and the Lenders and the Issuing Bank shall not
honor, any Notice of Borrowing, Notice of Issuance, Notice of Renewal or other
document the honoring of which would result in the sum of the Advances and the
Available Amount under outstanding Letters of Credit exceeding the Maximum
Amount; provided that the Maximum Amount may be increased at any time at the
sole discretion of, and upon receipt by the Administrative Agent of the written
consent of, the Required Lenders; provided further that any increase in the
Maximum Amount shall not increase the Commitments of any Lender under any
Facility unless such Lender shall have consented thereto in accordance with
Section 9.01 of the Credit Agreement.

         Section 6. Amendments. (a) Definitions.(i) Section 1.01 of the Credit
Agreement is amended by inserting the following definitions in the proper
alphabetical order:

                  "AMENDMENT NO. 4 EFFECTIVE DATE" means the date on which all
         of the conditions to effectiveness of Amendment No. 4 and Waiver No. 1
         to the Credit Agreement, dated January 23, 2003, among the Loan
         Parties, the Lender Parties thereto and the Administrative Agent, shall
         have been met pursuant to the terms thereof.

                   "VARIANCE REPORT" shall have the meaning given such term in
         Section 5.03(l).

                                       4

<PAGE>

                  "VON SALE AGREEMENT" means the Asset Purchase Agreement dated
         January 23, 2003 among Key3Media Von Events, Inc., Events, Pulver.com
         Von Events, Inc. and Jeffrey Pulver.

                  (ii)     Section 1.01 of the Credit Agreement is further
         amended by:

                           (A)      amending the definition of "Eligible
                  Assignee" by deleting the following phrase therein:

                  "as approved (so long as no Event of Default has occurred and
                  is continuing at the time of the relevant assignment pursuant
                  to Section 9.07) by the Borrower (such approval not to be
                  unreasonably withheld)" and

                           (B)      amending the definition of "NET CASH
                  PROCEEDS" by deleting the following proviso clause therein:

                  "provided further that Net Cash Proceeds shall not include any
                  such cash receipts arising from any sale, lease, transfer or
                  other disposition of any asset or any Extraordinary Receipt to
                  the extent such cash receipts are reinvested in the business
                  of the Borrower and its Subsidiaries within 6 months following
                  the date of receipt"

         (b)      Reduction of Revolving Credit Commitments. Section 2.05(b) of
the Credit Agreement is amended by inserting the following at the end thereof:

                  "(iii) On the Amendment No. 4 Effective Date, (A) the
         Revolving Credit Facility shall be permanently reduced by $10,000,000
         and (B) the Revolving Credit Commitment of each Revolving Credit Lender
         shall be permanently reduced by such Lender's Pro Rata Share of the
         amount set forth in the preceding clause (A)."

         (c)      Mandatory Prepayment. Section 2.06(b) of the Credit Agreement
is amended by deleting in clause (i)(A) thereof the following parenthetical:

                  "(other than any sale, lease, transfer or other disposition of
                  assets pursuant to clause (i) of Section 5.02(e) or to the
                  extent such Net Cash Proceeds are being reinvested in the
                  business of the Borrower and its Subsidiaries within 6 months
                  from receipt of such Net Cash Proceeds)".

         (d)      Monthly Interest. Section 2.07(a) of the Credit Agreement is
amended by:

                  (i)      inserting the following proviso at the end of clause
         (i) thereof:

                  "provided that, all interest on Base Rate Advances accrued up
                  to and including the Amendment No. 4 Effective Date shall be
                  payable on the Amendment No. 4 Effective Date, and beginning
                  on the day immediately following the Amendment No. 4 Effective
                  Date, interest on Base Rate Advances shall be payable in
                  arrears monthly on the last Business Day of each month during
                  such periods and on the date such Base Rate Advance shall be
                  Converted or paid in full."

                                       5

<PAGE>

                  (ii)     inserting the following proviso at the end of clause
         (ii) thereof:

                  "provided that, all such interest on Eurodollar Rate Advances
                  accrued up to and including the Amendment No. 4 Effective Date
                  shall be payable on the Amendment No. 4 Effective Date, and
                  beginning on the day immediately following the Amendment No. 4
                  Effective Date, interest on Eurodollar Rate Advances shall be
                  payable in arrears monthly on the last Business Day of each
                  month during such Interest Period and on the date such
                  Eurodollar Rate Advance shall be Converted or paid in full."

         (e)      Monthly Default Interest. Section 2.07(b) of the Credit
Agreement is amended by inserting the following immediately after the phrase
"payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above":

                  "and, beginning on the Amendment No. 4 Effective Date, on the
                  last Business Day of each month"

         (f)      Defaulting Lenders. Section 2.15(c) of the Credit Agreement is
amended by inserting immediately after the phrase "MS&Co." in the second
sentence the words "or with such other bank or other financial institution as
the Administrative Agent shall designate", and inserting immediately after the
phrase "MS&Co.'s" in the third sentence thereof the words "(or such other bank's
or financial institution's)".

         (g)      Affirmative Covenants. Section 5.01 of the Credit Agreement is
amended as follows:

                  (i)      Section 5.01(l) is amended in its entirety by
         replacing the phrase "Intentionally Omitted." with the following:
         "Annual Agency Fee. On the Amendment No. 4 Effective Date, the Borrower
         shall pay the Successor Administrative Agent a nonrefundable $60,000
         administrative fee, and on each anniversary of the Amendment No. 4
         Effective Date, the Borrower shall pay the Successor Administrative
         Agent a $60,000 administrative fee, which shall be refunded by the
         Successor Administrative Agent (calculated on a monthly pro rata basis)
         in the event the Successor Administrative Agent resigns or is replaced
         as Administrative Agent after the first year anniversary of the
         engagement of the Successor Administrative Agent.

                  (ii)     Section 5.01(o) of the Credit Agreement is amended by
         inserting the following at the end thereof:

                  "(v)     Not later than 30 days after the Amendment No. 4
         Effective Date, (a) each Grantor (as defined in the Security Agreement)
         (i) shall close all of its deposit accounts (as defined in Section
         9.102 of the Uniform Commercial Code as in effect from time to time in
         the State of New York) with respect to which the Collateral Agent has
         not received, on or prior to such date, an executed Deposit Account
         Control Agreement in form and substance satisfactory to the Collateral
         Agent (a "DEPOSIT ACCOUNT CONTROL AGREEMENT") and (ii) shall provide
         the Collateral Agent with written confirmation of the closure of any
         such deposit accounts. Any Grantor required to close a deposit account
         pursuant to the preceding sentence shall transfer all funds from such
         deposit account into

                                       6

<PAGE>

         another deposit account in the name of such Grantor with respect to
         which a Deposit Account Control Agreement is in effect on such date;
         and (b) the Administrative Agent shall have received from Events (i) a
         lost note certificate for the Note in the amount of 2,406,523.28
         Mexican Pesos dated February 22, 1999 issued by ZD Events SA to Events,
         as successor to ZD Events Inc. and (ii) a replacement note, accompanied
         by a duly executed instrument of transfer or assignment in blank, all
         in form and substance satisfactory to the Administrative Agent."

         (h)      Negative Covenants. Section 5.02 of the Credit Agreement is
amended by inserting at the end thereof the following:

                  "(s) Payments to Foreign Subsidiaries. Make, or permit any of
         is Domestic Subsidiaries to make, after the Amendment No. 4 Effective
         Date, directly or indirectly, any Investments in or payments to any
         Foreign Subsidiary (other than Investments in an aggregate amount not
         exceeding $500,000 in respect of products and services provided in the
         ordinary course of business and consistent with past practices).

                  (t) Extraordinary Payments. Enter into, or permit any of its
         Subsidiaries to enter into, after the Amendment No. 4 Effective Date,
         any contract obligating it to make any extraordinary payment or make,
         or permit any of its Subsidiaries to make, after the Amendment No. 4
         Effective Date, any extraordinary payment which it is not obligated to
         make pursuant to a contract in effect on November 1, 2002."

         (i)      Events of Default. Section 6.01 of the Credit Agreement is
amended by deleting clause (c) thereof and inserting in its place the following:

                           "(c)     the Borrower shall fail to perform or
                  observe any term, covenant or agreement contained in Section
                  2.14, 5.01(e), (i), (j) or (o)(v), 5.02, 5.03, or 5.04."

         (j)      Agents and Affiliates. Section 8.03 of the Credit Agreement is
amended by replacing the entire section as follows:

                  "SECTION 8.03 Agents and Affiliates. With respect to its
         Commitments, the Advances made by it and the Notes issued to it, each
         Agent (whether current or former) shall have the same rights and powers
         under the Loan Documents as any other Lender Party and may exercise the
         same as though it were not an Agent; and the term "Lender Party" or
         "Lender Parties" shall, unless otherwise expressly indicated, include
         such Agent in its individual capacities. Each Agent (whether current or
         former) and its respective affiliates may accept deposits from, lend
         money to, act as trustee under indentures of, accept investment banking
         engagements from and generally engage in any kind of business with, any
         Loan Party, any of its Subsidiaries and any Person that may do business
         with or own securities of any Loan Party or any such Subsidiary, all as
         if such Agent was not an Agent and without any duty to account therefor
         to the Lender Parties."

                                       7

<PAGE>

         (k)      Successor Agents. Section 8.06 of the Credit Agreement is
amended by: (i) deleting the phrase "both facilities" in the fourth sentence
thereof and replacing such phrase with "the Revolving Credit Facility" and (ii)
deleting the fifth sentence thereof in its entirety.

         Section 7. Representations Correct; No Default. The Borrower represents
and warrants that, except as expressly waived hereby, on and as of the date
hereof (i) the representations and warranties contained in the Credit Agreement,
other than the representation set forth in Section 4.01(f), (g) and (n) thereof,
are true as though made on and as of the date hereof (except to the extent a
representation or warranty references a specific date, in which case, such
representation or warranty is true as of such date) and (ii) no Default or Event
of Default has occurred and is continuing.

         Section 8. Governing Law. This Amendment No. 4 shall be governed by and
construed in accordance with the laws of the State of New York.

         Section 9. Counterparts. This Amendment No. 4 may be signed in any
number of counterparts, each of which shall be an original, with the same effect
as if the signatures thereto and hereto were upon the same instrument.

         Section 10. Resignation. In accordance with Section 8.06 of the Credit
Agreement, MSSFI hereby resigns as Administrative Agent, and MSCI hereby resigns
as Collateral Agent, in each case effective as of the date hereof as to all of
the Facilities (subject in the case of MSCI to Section 13 hereof). This Section
11 shall constitute notice of such resignations as required pursuant to Section
8.06 of the Credit Agreement.

         Section 11. Appointment Of Successor Administrative Agent. In
accordance with Section 8.06 of the Credit Agreement, the Lenders party hereto
hereby appoint, and each Loan Party hereby approves, Wilmington Trust Company
("WTC") as successor Administrative Agent (in such capacity, the "SUCCESSOR
ADMINISTRATIVE AGENT"). WTC hereby accepts its appointment as Successor
Administrative Agent. Effective as of the date hereof, the Successor
Administrative Agent shall succeed to and become vested with all of the rights,
powers, privileges and duties of Administrative Agent under the Loan Documents,
and MSSFI shall be discharged from all duties and obligations as Administrative
Agent. The Borrower shall pay all reasonable out-of-pocket expenses incurred by
the Successor Administrative Agent (including but not limited to reasonable
attorneys fees and expenses) incurred in connection with the review and
negotiation of Amendment No. 4 and the legal due diligence associated with the
appointment of the Successor Administrative Agent. The Successor Administrative
Agent shall bear no responsibility or liability for any actions taken or omitted
to be taken by any prior Administrative Agent while it served as Administrative
Agent under the Loan Documents.

         Section 12. Appointment Of Successor Collateral Agent. In accordance
with Section 8.06 of the Credit Agreement, the Lenders party hereto hereby
appoint, and each Loan Party hereby approves, WTC as successor Collateral Agent
(in such capacity, the "SUCCESSOR COLLATERAL AGENT") and vest WTC with all of
the rights, powers, privileges and duties of Collateral Agent under the
Collateral Documents and each other applicable Loan Document. WTC hereby accepts
its appointment as Successor Collateral Agent. The appointment of WTC as
Collateral Agent shall be effective immediately upon the effectiveness of this
Amendment and

                                       8

<PAGE>

(notwithstanding anything to the contrary in such Section 8.06), WTC shall
thereupon succeed to and become vested with all of the rights, powers,
privileges and duties of Collateral Agent and MSCI shall be discharged from all
duties and obligations as Collateral Agent. MSCI agrees to execute, deliver,
file and/or record any tangible collateral, instruments, agreements,
certificates or other documents (or amendments or supplements thereto)
reasonably requested by WTC (and at the sole cost and expense of the Borrower)
to continue the perfection of the Liens granted by the Collateral Documents.

         Section 13. Further Assurances. Each of MSCI, MSSFI, the Borrower, the
Guarantors, and WTC shall promptly take such actions as each of them deems
necessary or desirable to give effect to the agreements set forth herein.

         Section 14. Provisions Governing Agents. With respect to any actions
taken or omitted to be taken as a Administrative Agent or Collateral Agent prior
to its resignation or discharge from such capacity, each of MSSFI and MSCI are
entitled to the full benefits of the applicable provisions of the Loan Documents
(including, without limitation, Sections 8.05(a) and 9.04 of the Credit
Agreement). The Borrower and the Lenders party hereto recognize that the
indemnification and limitation of liability provisions of each of the underlying
Loan Documents (including, without limitation, Sections 8.05 and 9.04 of the
Credit Agreement) shall apply to and include WTC from and including the
Effective Date of Amendment No. 4.

         Section 15. Effectiveness. This Amendment No. 4 shall become effective
(and shall be binding on all Lenders) as of the date hereof when:

                  (i)      the Administrative Agent shall have received from
         each of the Borrower and the Required Lenders a counterpart hereof
         signed by such party or facsimile or other written confirmation (in
         form satisfactory to the Administrative Agent) that such party has
         signed a counterpart hereof;

                  (ii)     the Borrower shall have received from the purchaser
         under the Von Sale Agreement the purchase price provided for thereunder
         less the Closing Amount;

                  (iii)    the Administrative Agent shall have received from the
         purchaser under the Von Sale Agreement an amount equal to $991,317.18
         (the "CLOSING AMOUNT") consisting of (a) $289,464.15 on account of
         interest accrued up to and including the Amendment No. 4 Effective Date
         pursuant to Section 2.07(a) of the Credit Agreement, as amended hereby
         and (b) $701,853.03 on account of expenses submitted by the Agent to
         the Borrower for payment.

                                       9

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 4
to be duly executed as of the date first above written.

                                        KEY3MEDIA GROUP INC., as Borrower

                                        By: _________________________________
                                            Name:
                                            Title:

                                        KEY3MEDIA EVENTS, INC., as a Guarantor

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        KEY3MEDIA ADVERTISING, INC., as a
                                         Guarantor

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        KEY3MEDIA BCR EVENTS, INC, as a
                                         Guarantor

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        KEY3MEDIA VON EVENTS, INC., as a
                                         Guarantor

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       1

<PAGE>

                                        KEY3MEDIA BIOSEC CORP., as a
                                         Guarantor

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       2

<PAGE>

                                        MORGAN STANLEY SENIOR
                                          FUNDING, INC., as resigning
                                          Administrative Agent

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        MORGAN STANLEY & CO.
                                          INCORPORATED, as resigning
                                          Collateral Agent

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       3

<PAGE>

                                        WILMINGTON TRUST COMPANY,
                                          as Successor Administrative Agent, and
                                          Successor Collateral Agent

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       4

<PAGE>

                                        FLEET NATIONAL BANK

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       5

<PAGE>

                                        WELLS FARGO BANK, N.A.

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       6

<PAGE>

                                        BNP PARIBAS

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       7

<PAGE>

                                       AVENUE SPECIAL SITUATIONS
                                        FUND II, L.P.

                                       By: Avenue Capital Partners II, LLC,
                                           as General Partner
                                       By: GLS Partners II, LLC,
                                           as Managing Member of General Partner

                                       By: _____________________________________
                                           Name:
                                           Title:

                                       8

<PAGE>

                                        EVENT PARTNERS DEBT
                                         ACQUISITION, L.L.C

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       9

<PAGE>

                                        THOMAS WEISEL STRATEGIC
                                        OPPORTUNITIES PARTNERS, L.P.

                                        By: ____________________________________
                                            Name:
                                            Title:

                                       10

<PAGE>

                                                              Schedule I

                                                                 None

                                       11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}]]