Document:

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                                 Exhibit 10.13

                                WARRANT AGREEMENT
                               (GTH CAPITAL, INC.)

        This Agreement is entered into as of May 17, 2002, between J2
Communications ("COMPANY") and GTH Capital, Inc. ("HOLDER").

        WHEREAS, the Company and National Lampoon Acquisition Group, LLC and
certain of its affiliates (collectively "NLAG") have entered into a Preferred
Stock and Warrant Purchase Agreement dated April 25, 2002, as amended by the
First Amendment to Preferred Stock and Warrant Purchase Agreement dated May 17,
2002, and certain related agreements, dated the date hereof (collectively,
"RELATED AGREEMENTS"), incorporated herein by reference;

        WHEREAS, NLAG has required as a condition to entering into the Related
Agreements, that the Company shall issue to Holder a Warrant to purchase certain
of its equity securities;

        WHEREAS, in satisfaction of such condition, the Company is prepared to
issue warrants ("WARRANTS") to purchase one thousand two hundred forty-three
(1,243) shares (the "WARRANT SHARES") of Series B Convertible Preferred Stock,
no par value, of Company ("SERIES B PREFERRED"), convertible into shares of
Common Stock, no par value, of the Company (the "CONVERSION SHARES"), as
evidenced by a Warrant Certificate, substantially in the form of EXHIBIT A
hereto, on the terms and conditions set forth herein and therein; and

        WHEREAS, the Holder desires to acquire the Warrants on the terms and
conditions set forth herein.

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

        1. Issuance of Warrants. Subject to the terms and conditions of this
Agreement, the Company hereby issues the Warrants to the Holder simultaneously
with the execution and delivery of this Agreement and the Related Agreements by
delivery to the Holder of a Warrant Certificate registered in the name of the
Holder representing the Warrants.

        2. Representations and Warranties. Holder hereby represents and warrants
to the Company as follows:

            a. Organization and Standing. Holder is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Florida.

            b. Power. Holder has all requisite power and authority to enter into
this Agreement and all other documents contemplated hereby to which Holder is to
be a

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party.

            c. Authorization. Holder has taken all actions necessary to
authorize it to perform all of its obligations under this Agreement and to
consummate the transactions contemplated hereby and thereby. This Agreement is a
legally valid and binding obligation of Holder enforceable against it in
accordance with its respective terms, subject to applicable bankruptcy,
insolvency, reorganization and moratorium laws and other laws of general
application affecting enforcement of creditors' rights generally.

            d. Knowledge. Holder is an "accredited investor" as that term is
defined in Rule 501 of Regulation D promulgated under the Securities Act of
1933, as amended (the "Securities Act") and has such knowledge and experience in
financial business matters as to be capable of evaluating the merits and risks
of its investment, has no need for liquidity in its investment and has the
ability to bear the economic risks of its investment.

            e. Investment. Holder is acquiring the Warrants for investment for
its own account and not with the view to, or for resale in connection with, any
public distribution thereof. Holder understands that the Warrants, the Warrant
Shares and the Conversion Shares have not been registered under the Securities
Act or under any state securities laws by reason of a specified exemption from
the registration provisions of the Securities Act and such state securities laws
which depends upon, among other things, the bona fide nature of such purchaser's
investment intent as expressed herein.

            f. Resale Restrictions. Holder acknowledges that the Warrants, the
Warrant Shares and the Conversion Shares acquired by it must be held
indefinitely unless they are subsequently registered under the Securities Act or
an exemption from such registration is available.

            g. Exemption from Securities Act. The offer and sale by the Company
of the Warrants, the Warrant Shares and the Conversion Shares to the Holder, as
contemplated by this Agreement, qualifies for exemption from the registration
requirements of the Securities Act, without limitation, pursuant to the
requirements of Rule 506 promulgated thereunder in so far as such requirements
apply to the purchasers of securities in a transaction relying on such rule for
an exemption from the registration requirements of the Securities Act.

        3. Registration Rights. Holder shall have the registration rights and
obligations with regard to the Conversion Shares as set forth in the NLAG
Registration Rights Agreement entered into on the date hereof; provided,
however, that, prior to June 1, 2004, the Holder shall only have, and hereby
agrees only to exercise, such rights in connection with, and with respect to, an
underwritten offering of Common Stock of the Company.

        4. Assignment. Except as expressly permitted herein, this Agreement is
not assignable by either party without the prior written consent of the other
party.

        5. Miscellaneous:

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            a. If any provision of this Agreement is held invalid for any
reason, such holding shall not affect the remaining provisions of this
Agreement, but instead this Agreement shall be construed and enforced as if such
provision had never been included in this Agreement.

            b. The substantive laws of the State of California shall govern this
Agreement, without reference to California conflict of law provisions.

            c. Any reference to the masculine, feminine or neuter gender in this
Agreement shall be a reference to such other gender as is appropriate.

            d. This Warrant Agreement shall not be construed as giving Holder
any right to be retained by the Company in any capacity.

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

                                    J2 COMMUNICATIONS

                                    By:______________________________________
                                            James P. Jimirro, President

                                    GTH CAPITAL, INC.

                                    By:______________________________________
                                        Art Chang, Chief Operating Officer

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                                    EXHIBIT A

                               WARRANT CERTIFICATE

                             Void after May 16, 2007

Warrants to Purchase an Aggregate of 1,243 Shares of Series B Convertible
Preferred Stock of J2 Communications

        THESE WARRANTS, THE PREFERRED STOCK ISSUABLE UPON THEIR EXERCISE, AND
        THE COMMON STOCK ISSUABLE UPON THEIR CONVERSION, HAVE NOT BEEN
        REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "SECURITIES ACT") AND
        MAY NOT BE PLEDGED, SOLD, ASSIGNED OR OTHERWISE TRANSFERRED, DISPOSED OF
        OR OFFERED FOR SALE, IN WHOLE OR IN PART, UNLESS (1) A REGISTRATION
        STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES
        LAW HAS BECOME EFFECTIVE WITH RESPECT THERETO OR (2) A VALID EXEMPTION
        FROM SUCH REGISTRATION IS AVAILABLE.WARRANTS TO PURCHASE SERIES B
        CONVERTIBLE PREFERRED STOCK OF J2 COMMUNICATIONS

        This is to certify that GTH Capital, Inc. ("HOLDER") is entitled to
purchase, subject to the provisions of this Warrant Certificate, from J2
Communications, a California corporation ("COMPANY"), one thousand two hundred
forty-three (1,243) shares of Series B Preferred Stock,no par value, of the
Company ("SERIES B PREFERRED"), which are convertible into fully paid, validly
issued and nonassessable shares of Common Stock, no par value, of the Company
("CONVERSION SHARES"), at an initial exercise price equal to One Hundred Ninety
Seven Dollars and 29/100 Dollars ($197.29) per share of Series B Preferred, at
any time or from time to time during the period from the date hereof through and
including May 16, 2007 (the "TERMINATION DATE"). The number of shares of Series
B Preferred to be received upon the exercise of these Warrants and the price to
be paid for each share of Series B Preferred may be adjusted from time to time
as hereinafter set forth. The shares of Series B Preferred deliverable upon such
exercise are hereinafter sometimes referred to as "WARRANT SHARES" and the
exercise price of a Warrant to purchase one share of Series B Preferred in
effect at any time and as adjusted from time to time is hereinafter sometimes
referred to as the "EXERCISE PRICE."

        (a) Exercise of Warrant. These Warrants may be exercised in whole or in
part at any time or from time to time until the Termination Date. These Warrants
may be exercised by presentation and surrender hereof to the Company at its
principal office, or at the office of its stock transfer agent, if any, with the
Purchase Form annexed hereto duly executed and accompanied by payment of the
Exercise Price for the number of Warrant Shares specified in such form.

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        (b) Adjustment. The Company shall make or provide for such adjustments
in the numbers of Warrant Shares, in the price per Warrant Share applicable to
the Warrant, and in the kind of shares covered by the Warrant, as is equitably
required to prevent dilution or enlargement of the rights of Holder that
otherwise would result from any stock dividend, stock split, combination of
shares, recapitalization or other change in the capital structure of the Company
or any other corporate transaction or event having a similar effect.

        (c) Issuance of Shares. As soon as practicable after each such exercise
of Warrants, but not later than thirty (30) days from the date of such exercise,
the Company shall issue and deliver to the Holder a certificate or certificates
for the Warrant Shares issuable upon such exercise, registered in the name of
the Holder. If these Warrants should be exercised in part only, the Company
shall, upon surrender of the Warrants for cancellation, execute and deliver new
Warrants evidencing the rights of the Holder to purchase the balance of the
Warrant Shares purchasable hereunder. Upon receipt by the Company of the
Warrants at its office, or by the stock transfer agent of the Company at its
office, in proper form for exercise, the Holder shall be deemed to be the holder
of record of the Warrant Shares issuable upon such exercise, notwithstanding
that the stock transfer books of the Company shall then be closed or that
certificates representing such shares shall not then be physically delivered to
the Holder.

        (d) Reservation Of Shares. The Company shall at all times reserve for
issuance and/or delivery upon exercise of the Warrants such number of shares of
its authorized but unissued Series B Preferred as shall be required for issuance
and delivery upon exercise of the Warrants, and such number of its authorized by
unissued Conversion Shares as shall be required for issuance and delivery upon
conversion of such Warrant Shares.

        (e) Fractional Shares. No fractional shares or script representing
fractional shares shall be issued upon the exercise of these Warrants. All
fractional shares shall be eliminated by rounding any fraction to the nearest
whole number of shares of Series B Preferred.

        (f) Exchange Of Warrant. These Warrants are exchangeable, without
expense, at the option of the Holder, upon presentation and surrender hereof to
the Company or at the office of its stock transfer agent, if any, for other
Warrants of different denominations entitling the Holder to purchase in the
aggregate the same number of shares of Series B Preferred purchasable hereunder.
The Warrants may be divided or combined with other Warrants which carry the same
rights upon presentation hereof at the principal office of the Company or at the
office of its stock transfer agent, if any, together with a written notice
specifying the denominations in which new Warrants are to be issued and signed
by the Holder. The term "Warrants" as used herein includes any Warrants into
which these Warrants may be divided or exchanged. Upon receipt by the Company of
evidence satisfactory to it of the loss, theft, destruction or mutilation of
these Warrants, and (in the case of loss, theft or destruction) of reasonably
satisfactory indemnification, and upon surrender and cancellation of these
Warrants, if mutilated, the Company will execute and deliver new Warrants of
like tenor and date.

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        (g) Rights Of The Holder. The Holder shall not, by virtue hereof, be
entitled to any rights of a stockholder in the Company, either at law or equity,
unless and until the Warrants are exercised, and the rights of the Holder are
limited to those expressed herein and are not enforceable against the Company
except to the extent set forth herein.

        IN WITNESS WHEREOF, the Company has caused these Warrants to be signed
and attested by the undersigned, each being duly authorized, as of the date
below.

                                    J2 COMMUNICATIONS

                                    By:__________________________________
                                          James P. Jimirro, President

Dated: May 17, 2002

Attest:

_________________________________
Bruce Vann, Acting Secretary

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                                  PURCHASE FORM

        The undersigned hereby irrevocably elects to exercise the within
Warrants to the extent of purchasing _______ shares of Series B Preferred and
hereby makes payment of ____________ in payment of the actual exercise price
thereof.

GTH CAPITAL, INC.

By:________________________                        Date:________________________

EIN:_____________________

Address:________________________________________________________________________<PAGE>
                                 Exhibit 10.14

                                J2 COMMUNICATIONS

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                                VOTING AGREEMENT
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                                  May 17, 2002

                                VOTING AGREEMENT

        THIS VOTING AGREEMENT (this "AGREEMENT"), dated as of May 17, 2002, is
entered into by and among Daniel S. Laikin ("LAIKIN"), Paul Skjodt, Timothy S.
Durham, Ronald Holzer, DC Investments, LLC and National Lampoon Acquisition
Group, LLC, a California limited liability company (each a "PURCHASER" and
together the "PURCHASERS"), Samerian LLP, an Indiana limited liability
partnership, Diamond Investments, LLC, an Indiana limited liability company,
Christopher R. Williams, Helen C. Williams, DW Leasing Company, LLC, a
Mississippi limited liability company, and Judy B. Laikin (collectively, the
"NLAG SHAREHOLDERS"), and James P. Jimirro ("JIMIRRO"). The Purchasers, the NLAG
Shareholders and Jimirro are sometimes referred to in this Agreement
individually as a "SHAREHOLDER" and collectively as the "SHAREHOLDERS".

                                    RECITALS

        WHEREAS, as of the date hereof, Jimirro, certain of the Purchasers and
the NLAG Shareholders each own shares of the Common Stock, no par value (the
"COMMON STOCK"), of J2 Communications, a California corporation (the "COMPANY");

        WHEREAS, each of the Purchasers has agreed to purchase or will be
granted an option to purchase, and the Company has agreed to sell and grant
options to purchase, pursuant to a Preferred Stock and Warrant Purchase
Agreement dated April 25, 2002, as amended by the First Amendment to Preferred
Stock and Warrant Purchase Agreement dated May 17, 2002 (the "PURCHASE
AGREEMENT"), shares of Series B Convertible Preferred Stock of the Company, no
par value (the "SERIES B PREFERRED") and warrants to

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acquire shares of Common Stock of the Company (the "WARRANTS"); and

WHEREAS, the obligations of the Company to sell, and the Purchasers to purchase,
the Series B Preferred and Warrants pursuant to the Purchase Agreement are
conditioned upon the execution and delivery of this Agreement by Jimirro, the
Purchasers and the NLAG Shareholders.

                                   AGREEMENTS

        NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

        Section 1. VOTING AND OTHER ACTIONS.

        (a) Each of the Shareholders hereby agrees that at each meeting of the
shareholders of the Company at which directors are to be elected after the
Closing (as defined in the Purchase Agreement) and in connection with any action
by written consent such Shareholder will vote (or execute such written consent
with respect to, as the case may be) all shares of the capital stock of the
Company which are voting shares, and any other voting securities of the Company,
over which such Shareholder has voting control or which are owned by such
Shareholder, beneficially or of record, or will cause such shares or securities
to be voted (or such consent to be executed), and will take all other necessary
or desirable actions within such Shareholder's control in his or her capacity as
a shareholder, director, member of a board committee or officer of the Company,
including acting by written consent to the extent permitted under applicable
law, so that:

        (i) during the term of this Agreement the Board of Directors of the
Company (the "BOARD") will include, and until (but not necessarily after) the
Payment Satisfaction Date (hereinafter defined) will exclusively include, (A)
three persons nominated by Jimirro (including their successors, the "JIMIRRO
DIRECTORS"), (B) so long as the Purchasers and their transferees who are or
become parties to and bound by this Agreement continue to beneficially own in
the aggregate not less than 281,690 shares of Common Stock including as
beneficially owned by them all shares of Common Stock into which their Series B
Preferred could be converted (the foregoing required number of shares shall
automatically be increased proportionately on account of any subdivision, share
dividend, stock split or similar transaction and decreased proportionately on
account of any reverse stock split, combination or similar transaction affecting
the Common Stock occurring after the date of this Agreement), three persons
nominated by the holders of a majority of the shares of Common Stock
beneficially owned from time to time by the Purchasers (including their
successors, the "SERIES B DIRECTORS"), and (C) one person nominated jointly by a
majority of the Jimirro Directors and a majority of the Series B Directors (the
"INDEPENDENT DIRECTOR"); provided, however, that the Independent Director will
be nominated solely by a majority of the Series B Directors from and after the
Payment Satisfaction Date (hereinafter defined); provided, further, that as a
condition precedent to

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the effectiveness of each Jimirro Director's election or appointment to the
Board, each Jimirro Director must execute and deliver to the Company, an
agreement to resign from the Board effective immediately upon (but only upon)
the termination of this Agreement, subject to the satisfaction of such Jimirro
Director's fiduciary duties as a director of the Company, in the form attached
hereto as Exhibit A;

        (ii) until the Payment Satisfaction Date (hereinafter defined) any
committees of the Board will be created only upon the approval of a majority of
the Series B Directors and a majority of the Jimirro Directors, and in each case
will consist of (A) an equal number of Series B Directors and Jimirro Directors
and, to the extent permitted, (B) the Independent Director;

        (iii) any vacancy created by the death, resignation or removal of any of
the Jimirro Directors, the Series B Directors or the Independent Director will
be filled by a person nominated to fill such vacancy by the person or group of
persons entitled, under clause (i) above, to nominate the director who died,
resigned or was removed;

        (iv) none of the Jimirro Directors or the Series B Directors will be
removed (with or without cause) from the Board unless the Board has received a
prior written request for such removal from the person or group of persons
entitled to nominate the director to fill the vacancy that would be created by
such removal;

        (v) Jimirro will be elected as Chairman of the Board, President and
Chief Executive Officer of the Company during his employment with the Company,
and will remain as Chairman of the Board after termination of such employment
for so long as he beneficially owns at least 100,000 shares of Common Stock (the
foregoing required number of shares shall automatically be increased
proportionately on account of any subdivision, share dividend, stock split or
similar transaction and decreased proportionately on account of any reverse
stock split, combination or similar transaction affecting the Company's Common
Stock occurring after the date of this Agreement);

        (vi) Laikin will be elected to the office of Chief Operating Officer of
the Company for so long as Jimirro is the President and Chief Executive Officer,
or until such earlier time as the Directors may elect;

        (vii) unless approved in writing by the holders of a majority of the
outstanding shares of Series B Preferred, so long as any shares of Series B
Preferred Stock remain outstanding no action (including, without limitation,
amending the Articles of Incorporation or the Bylaws of the Company) will be
taken to amend, alter or repeal any rights, preferences or privileges of, or any
restrictions provided for the benefit of, the Series B Preferred, to adversely
affect the rights of the holders of the Series B Preferred or the Series B
Directors, or to authorize, create or issue (by reclassification or otherwise)
any shares of any class or series of stock having preferences senior to the
Series B Preferred Stock; and

        (viii) unless approved in writing by Jimirro, until the Payment
Satisfaction Date (hereinafter defined) no action will be taken to amend, alter
or repeal the Articles of

<PAGE>
Incorporation or the Bylaws of the Company.

        (b) Each of the Shareholders hereby agrees that such Shareholder will
not, and will not permit its affiliates (as such term is defined in Rule 12b-2
promulgated under the Securities Exchange Act of 1934, as amended) or associates
(as such term is defined in Rule 12b-2 promulgated under the Securities Exchange
Act of 1934, as amended) to, (x) elect to cumulate votes pursuant to Section
708(b) of the California Corporations Code, or (y) prior to the Payment
Satisfaction Date (hereinafter defined) nominate for election as a director any
person in addition to those nominated or to be nominated in accordance with
Section 1(a)(i) of this Agreement, or (z) directly or indirectly cause, request,
solicit or encourage any other shareholder of the Company to do any of the acts
described in subdivisions (x) or (y) of this Section 1(b). In the event that any
shareholder of the Company who is not a party to this Agreement nominates for
election as a director a person other than those nominated or to be nominated in
accordance with Section 1(a)(i) of this Agreement, and in the further event that
the shareholders of the Company shall be entitled to cumulate their votes in the
election of directors in question, then each of the Shareholders hereby agrees
that in any election of directors held or to be held until the termination of
this Agreement for which such other person is so nominated such Shareholder
shall vote such Shareholder's shares as follows: (A) for each person nominated
to be a Jimirro or a Series B Director each Shareholder shall cast the number of
votes with respect to its shares (whether on a cumulated basis or not, depending
on whether an election has been made to cumulate votes pursuant to Section
708(b) of the California Corporations Code) which is equal to 14.3 percent of
the total number of votes in respect of which such Shareholder is entitled to
vote in respect of its shares, rounded up to the next whole number of votes; and
(B) for the person nominated to be the Independent Director each Shareholder
shall vote the remainder of such Shareholder's votes in respect of its shares
(whether on a cumulated basis or not).

        (c) Each of the Shareholders hereby agrees to take all necessary or
desirable actions within such Shareholder's control in such Shareholder's
capacity as a shareholder, director, member of a board committee or officer of
the Company to cause the Company to reincorporate in the State of Delaware as
soon as commercially practicable after the Closing (as defined in the Purchase
Agreement). In connection with such reincorporation, each Shareholder agrees
that such Shareholder will (x) take all necessary or desirable actions within
such Shareholder's control in such Shareholder's capacity as a shareholder,
director, member of a board committee or officer of the Company (1) to cause the
Company's (or its successor entity's, as the case may be) corporate documents
(including, without limitation, its charter and bylaws) to be substantially in
the form of the Company's current corporate documents, subject only to such
differences as are required by Delaware law, and (2) to cause the Company, as
soon as it may do so under applicable law and in accordance with the existing
factual circumstances, to issue the Section 2115 Certificate (hereinafter
defined), and (y), if necessary, enter into a new voting agreement having terms
substantively identical to this Agreement regarding the capital stock of any
successor entity to the Company resulting from such reincorporation. Each of the
Shareholders hereby agrees that as soon as commercially practicable following
such reincorporation, such Shareholder will designate

<PAGE>
an address of record outside the State of California for purposes of the records
of the Company or any successor entity to the Company and will maintain such
address of record until the termination of this Agreement pursuant to Section 2
below.

        (d) Jimirro and Laikin agree that until the Payment Satisfaction Date
(hereinafter defined), in the event either Jimirro or Laikin (if he is a Series
B Director) is unable under applicable law to participate, or otherwise elects
not to participate, in a vote or decision of the Board on account of his
personal interest in the matter being voted on or decided, then neither of such
persons shall participate as a Director in such vote or decision of the Board.

        (e) For purposes of this Agreement, the "PAYMENT SATISFACTION DATE" is
the date following the termination of Jimirro's employment with the Company as
of which the following condition (whichever is applicable) has been satisfied:

        (i) if Jimirro's employment with the Company has been terminated by the
Company for "Cause" pursuant to Section 4(e) of the Employment Agreement between
Jimirro and the Company dated May 17, 2002 (the "NEW AGREEMENT") or by Jimirro
otherwise than for an Executive Good Reason Termination Event pursuant to
Section 4(g) of the New Agreement, then upon full payment of all compensation
(excluding payments with respect to the movie "National Lampoon's Van Wilder")
owed to Jimirro under the New Agreement; or

        (ii) if Jimirro's employment with the Company has been terminated by
reason of Jimirro's death or disability, by the Company for "Convenience"
pursuant to Section 4(f) of the New Agreement, or by Jimirro for an Executive
Good Reason Termination Event pursuant to Section 4(g) of the New Agreement,
then upon the later of (A) full payment to Jimirro of all compensation
(including payments under the Severance Note (as defined in the New Agreement)
but excluding payments with respect to the movie "National Lampoon's Van
Wilder") owed to Jimirro under the New Agreement, and (B) thirteen (13) months
after the payment to Jimirro of the "Cash Severance Payment" pursuant to, and as
defined in, Section 5(d)(i) of the New Agreement.

        (f) Each of the Shareholders hereby represents and warrants for the
benefit of each of the other Shareholders that it beneficially owns as of the
date of this Agreement the number of shares of Common Stock set forth opposite
such Shareholder's name in Exhibit B to this Agreement.

        (g) For purposes of this Agreement, the term "beneficially", when it
modifies "own" or a derivative of "own", shall have the meaning ascribed to it
in the rules and regulations promulgated under Section 13(d) of the Securities
Exchange Act of 1934, as amended.

        (h) The Shareholders acknowledge that shares of capital stock of the
Company that they own may be subject in certain respects to Rule 144 of the
Securities Act of 1933, as amended.

<PAGE>
        Section 2. TERMINATION OF AGREEMENT. This Agreement will terminate and
be of no further force or effect upon the mutual written agreement to terminate
of Jimirro and the Purchasers who hold a majority of the shares of Series B
Preferred then held by the Purchasers or, in the absence of such an agreement to
terminate, upon the last to occur of the following dates:

        (a) the Payment Satisfaction Date; or

        (b) the date as of which Jimirro personally first ceases to own
beneficially (whether by reason of his death or otherwise) at least 100,000
shares of Common Stock (the foregoing required number of shares shall
automatically be increased proportionately on account of any subdivision, share
dividend, stock split or similar transaction and decreased proportionately on
account of any reverse stock split, combination or similar transaction affecting
the Company's Common Stock occurring after the date of this Agreement).

        Section 3. MISCELLANEOUS.

        (a) Succession.

        (i) Until the date of reincorporation of the Company in the State of
Delaware (as contemplated by Section 1(c) of this Agreement) (the
"REINCORPORATION DATE") the benefits and burdens of this Agreement shall not be
personal to the Restricted Transferors (as defined herein) and will pass to the
successors in interest and/or the transferees of any of their shares. In
addition, it shall be a condition of any sale, transfer or assignment of any
shares by any Restricted Transferor that the successor in interest to such
shares (including, without limitation, any buyer, transferee or assignee)
execute an adherence and assumption agreement to the terms and conditions of
this Agreement in or substantially in the form attached hereto as Exhibit C.

        (ii) After the Reincorporation Date and until the Payment Satisfaction
Date, unless the Company shall have issued a certificate to the effect that the
Company is not subject to subdivision (b) of Section 2115 of the California
Corporations Code upon a request therefor by any stockholder (a "SECTION 2115
CERTIFICATE"), the benefits and burdens of this Agreement shall not be personal
to the Restricted Transferors (as defined herein) and will, pass to the
successors in interest and/or the transferees of any of their shares. In
addition, it shall be a condition of any sale, transfer or assignment at such
time of any shares by any Restricted Transferor that the successor in interest
to such shares (including, without limitation, any buyer, transferee or
assignee) execute an adherence and assumption agreement to the terms and
conditions of this Agreement in or substantially in the form attached hereto as
Exhibit C.

        (iii) After the Reincorporation Date and until the Payment Satisfaction
Date, in the event that the Company shall have issued a Section 2115
Certificate, the benefits and burdens of this Agreement shall not pass to the
successors in interest and/or the transferees of any of the shares of the
parties hereto except to the extent that the

<PAGE>
Restricted Transferors, considered together as a group, shall cease as a result
of any sale, transfer or assignment of any shares at such time, to hold an
aggregate number of Shares which represent a number of votes in an election of
directors of the Company equal to 50% of the total number of votes applicable to
all outstanding voting securities of the Company plus one vote. For the
avoidance of doubt, the successor in interest to any Shares (including, without
limitation, any buyer, transferee or assignee) as a result of a sale, transfer
or assignment which results in the Restricted Transferors, considered together
as a group, ceasing to hold such number of Shares, and the successors in
interest to any Shares as a result of subsequent sales, transfers or
assignments, shall be bound by the benefits and burdens of this Agreement, and
each such subsequent sale, transfer or assignment shall be conditioned upon the
execution by each of such successor or successors in interest of an adherence
and assumption agreement to the terms and conditions of this Agreement in or
substantially in the form attached hereto as Exhibit C.

        (iv) The benefits and burdens of this Agreement with respect to Jimirro
are wholly personal to him and will not flow to or bind his transferees or
successors in interest with respect to his Common Stock. After the Payment
Satisfaction Date, the benefits and burdens of this Agreement will be wholly
personal to each of the Shareholders and will not flow to or bind their
transferees with respect to any of their shares of stock.

        (v) For the purposes of this Section 3(a) and of Section 3(e)(ii)(z) the
proportion that (1) the votes represented by the shares held by the holders of
shares initially required to be legended under Section 3(e)(i), considered
together as a group, bears to (2) the total number of votes shall be calculated
without taking account, for any purposes, of any shares of Common Stock acquired
by or issued to Jimirro as a result of the exercise of any stock options held by
Jimirro as of the date of this Agreement or to be granted to Jimirro pursuant to
the terms of the New Agreement.

        (vi) Any sale, transfer or assignment of shares by a Restricted
Transferor which is, pursuant to the terms of this Agreement, conditional upon
the successor in interest to such shares (including, without limitation, any
buyer, transferee or assignee) executing an adherence and assumption agreement
to the terms and conditions of this Agreement in or substantially in the form
attached hereto as Exhibit C, in circumstances where such condition has not been
satisfied shall constitute a breach of this Agreement by such Restricted
Transferor.

        (vii) For the purposes of this Agreement, in determining whether any
sale, transfer or assignment of any shares is a sale, transfer or assignment by
a Restricted Transferor, each of the following persons shall be a "Restricted
Transferor":

               (A) until the Reincorporation Date, the Shareholders (except for
        Jimirro) and the successors in interest to any of their shares
        (including, without limitation, any buyer, transferee or assignee); and

<PAGE>
               (B) from and after the Reincorporation Date and until the Payment
        Satisfaction Date, if the Company shall not have issued a Section 2115
        Certificate, the persons who were Restricted Transferors pursuant to
        Subsection 3(vii)(A) and the successors in interest to any of their
        shares (including, without limitation, any buyer, transferee or
        assignee); and

               (C) from and after the Reincorporation Date and until the Payment
        Satisfaction Date, if the Company shall have issued a Section 2115
        Certificate and the sale, transfer or assignment in question is, or is
        subsequent to, a Prohibited Transfer (defined below), only those persons
        who were Restricted Transferors pursuant to Subsection 3(vii)(A) and the
        successors in interest to any of their Shares (including, without
        limitation, any buyer, transferee or assignee). For purposes of this
        Agreement, a "PROHIBITED TRANSFER" is a sale or transfer of shares which
        results in, or is subsequent to a sale or transfer which resulted in,
        the persons who were Restricted Transferors pursuant to Subsection
        3(vii)(A) and the successors in interest to any of their shares
        (including, without limitation, any buyer, transferee or assignee),
        considered together as a group, ceasing to hold an aggregate number of
        shares which represent an amount of votes in an election of directors of
        the Company equal to 50% of the total number of votes plus one vote).

        (b) Governing Law. This Agreement shall be governed by, and construed
and interpreted in accordance with, the laws of the State of California, without
giving effect to its principles or rules regarding conflicts of laws (to the
extent such principles or rules would require the application of the law of
another jurisdiction).

        (c) Severability. If any provision of this Agreement or portion thereof
shall be declared invalid, illegal or unenforceable, such provision or portion
thereof shall be severed and all remaining provisions shall continue in full
force and effect.

        (d) Amendments. No amendment, alteration or modification of this
Agreement shall be valid unless in each instance such amendment, alteration or
modification is expressed in a written instrument executed by each of Jimirro
and the holders of a majority of the shares of Series B Preferred purchased
pursuant to the Purchase Agreement, provided, that if any such purported
amendment would discriminate against any one Shareholder, such Shareholder's
consent shall be required for such amendment. Notwithstanding the foregoing, in
no event shall an amendment to this Agreement that has the effect of removing a
Series B Director or a Jimirro Director be valid without the consent of the
persons who nominated such Series B Director or Jimirro Director, respectively.

        (e) Legends.

        (i) Each of the Shareholders (other than Jimirro) hereby agrees that
each certificate representing shares of Series B Preferred held by such
Shareholder, and each certificate of Common Stock acquired by such Shareholder
(A) as a result of the conversion of Series B Preferred into Common Stock or
upon exercise of the Warrants

<PAGE>
and (B) prior to the date on and after which the legend is removable under
Section 3(e)(iii), may bear a legend containing the following words:

        "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE
        VOTING AGREEMENTS SET FORTH IN THE VOTING AGREEMENT DATED AS OF MAY 17,
        2002 BY THE PARTIES THERETO, A COPY OF WHICH IS ON FILE IN THE OFFICE OF
        THE COMPANY."

        (ii) In the event that any holder of shares of Common Stock or of Series
B Preferred decides to sell or transfer any of such shares owned by him and in
respect of which the certificate or certificates bear such legend, then such
holder shall be entitled to request by written notice to the Company that the
Company exchange such certificates for certificates which do not bear any
legend, and each of the Shareholders hereby agrees to take all necessary or
desirable actions within such Shareholder's control in his or her capacity as a
shareholder, director, member of a board committee or officer of the Company to
cause the Company so to exchange such certificates, provided always that (x) the
Reincorporation Date shall have passed, (y) the Company shall have issued a
Section 2115 Certificate and (z) the Company shall not be able to prove that
such sale or transfer is a Prohibited Transfer.

        (iii) From and after the Payment Satisfaction Date, any shareholder of
the Company holding shares the certificates in respect of which are legended as
provided in Section 3(e)(i) shall be entitled to request by written notice to
the Company that the Company exchange any legended certificate for a certificate
which does not bear any legend, and each of the Shareholders hereby agrees to
take all necessary or desirable actions within such Shareholder's control in his
or her capacity as a shareholder, director, member of a board committee or
officer of the Company to cause the Company so to exchange such certificates.

        (f) Waiver. No waiver of any provision of this Agreement shall be valid
unless it is expressed in a written instrument duly executed by the party or
parties making such waiver. The failure of any party to insist, in any one or
more instances, on performance of any of the terms and conditions of this
Agreement shall not be construed as a waiver or relinquishment of any rights
granted hereunder or of the future performance of any such term, covenant or
condition but the obligation of any party with respect thereto shall continue in
full force and effect.

        (g) Notices. All notices, requests, consents and other communications
required or permitted hereunder shall be in writing and shall be deemed
effectively given: (i) upon personal delivery to the party to be notified, (ii)
when sent by confirmed telex or facsimile if sent during normal business hours
of the recipient; if not, then on the next business day, (iii) five days after
having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (iv) one day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of
receipt, as follows:

<PAGE>
        (i) If to any or all of the Purchasers or NLAG Shareholders, to:

               111 Monument Circle, Suite 3680
               Indianapolis, Indiana 46204
               Attn: Timothy S. Durham

               with a copy (which shall not constitute notice) to:

               LEAGRE CHANDLER & MILLARD LLP
               1400 First Indiana Plaza
               135 North Pennsylvania Street
               Indianapolis, Indiana 46204-2415
               Attn: David B. Millard, Esq.
               Fax: 317-808-3100

        (ii) If to Jimirro, to:

               James P. Jimirro
               10787 Wilshire Boulevard, Suite 1702
               Los Angeles, California 90024

               with a copy (which shall not constitute notice) to:

               GIBSON, DUNN & CRUTCHER LLP
               333 South Grand Avenue
               Los Angeles, California 90071
               Attn: Bruce D. Meyer, Esq.
               Fax: 213-229-7520

Alternatively, to such other address as a party hereto supplies to each other
party in writing.

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

        (i) Headings. The headings of this Agreement are for convenience and
shall not control or affect the meaning or construction of any provision hereof.

        (j) Specific Performance. Each of the Shareholders agrees and
acknowledges that the other Shareholders will be irreparably damaged in the
event this Agreement is not specifically enforced. Each of the parties therefore
agrees that in the event of a breach of any provision of this Agreement the
aggrieved party may elect to institute and prosecute proceedings in any court of
competent jurisdiction to enforce specific performance or to enjoin the
continuing breach of this Agreement. Such remedies shall, however, be

<PAGE>
cumulative and not exclusive, and shall be in addition to any other remedy which
any Shareholder may have.

        Section 4. EFFECTIVE TIME. This Agreement will become effective
immediately upon, but will not be effective prior to, the consummation of the
sale of one or more shares of Series B Preferred by the Company pursuant to the
Purchase Agreement.

        IN WITNESS WHEREOF the undersigned have set their hands as of the above
date.

----------------------------------     -----------------------------------------
Daniel S. Laikin                       James P. Jimirro (individually)

SAMERIAN LLP

                                       -----------------------------------------
                                       Paul Skjodt
By
  --------------------------------
Paul Skjodt, Managing Member           DIAMOND INVESTMENTS, LLC

----------------------------------     By
                                         ---------------------------------------
Christopher R. Williams                Timothy S. Durham, Managing Member

DW LEASING COMPANY, LLC
                                       -----------------------------------------
                                       Helen C. Williams

By
  --------------------------------
Timothy S. Durham, Managing Member

NATIONAL LAMPOON ACQUISITION
GROUP, LLC
                                       -----------------------------------------
                                       Judy B. Laikin

----------------------------------
By Timothy S. Durham
Daniel S. Laikin, Managing Member
                                       ACKNOWLEDGED:
                                       J2 COMMUNICATIONS

----------------------------------
Ronald Holzer

                                       By
                                         ---------------------------------------
DC INVESTMENTS, LLC                      James P. Jimirro (President)

By
  --------------------------------

<PAGE>
Timothy S. Durham, Managing Member

                                    EXHIBIT A

        The undersigned hereby agrees to resign from the Board of Directors of
J2 Communications, a California corporation (the "Company"), effective
immediately upon the termination pursuant to Section 2 thereof of that certain
Voting Agreement dated as of May 17, 2002 among Daniel S. Laikin, Paul Skjodt,
Timothy S. Durham, Ronald Holzer, DC Investments, LLC and National Lampoon
Acquisition Group, LLC, a California limited liability company, Samerian LLP, an
Indiana limited liability partnership, Diamond Investments, LLC, an Indiana
limited liability company, Christopher R. Williams, Helen C. Williams, DW
Leasing Company, LLC, a Mississippi limited liability company, Judy B. Laikin
and James P. Jimirro; provided, however, that the obligation set forth herein
shall be subject in all respects to the satisfaction of the undersigned's
fiduciary duties to the Company.

                                    -------------------------------------------
                                    Director

<PAGE>
                                    EXHIBIT B

                               OWNERSHIP OF SHARES

<TABLE>
<CAPTION>
                                           Number of shares owned
                                   ---------------------------------------
Name of Shareholder                Common Stock        Series B Preferred
-------------------                ------------        ------------------
<S>                                <C>                 <C>
James P. Jimirro                      233,667

Daniel S. Laikin                      167,250               19,864

Paul Skjodt                           141,050                3,000

Samerian, LLP                          20,000

Timothy S. Durham                      68,200                4,880

Diamond Investments, LLC               92,399

DW Leasing Company, LLC                17,350

Christopher R. Williams               129,900

Helen C. Williams                      60,200

Judy B. Laikin                         26,000

Ronald Holzer                          40,100                2,500

DC Investments, LLC                         0                5,000

National Lampoon

Acquisition Group, LLC                      0
</TABLE>

<PAGE>
                                    EXHIBIT C

                   FORM OF ASSUMPTION AND ADHERENCE AGREEMENT

                       ASSUMPTION AND ADHERENCE AGREEMENT

        THIS ASSUMPTION AND ADHERENCE AGREEMENT (this "Assumption
Agreement") is entered into this ____ day of ___________, 200___ by and between
[Name of Transferor Shareholder], ("Seller") and between [Name of Transferee]
("Buyer").

        WHEREAS, Seller and Buyer have entered into a Stock Transfer Agreement,
dated as of _______________, 200___ (the "Stock Transfer Agreement"), pursuant
to which Seller has agreed to sell, transfer, convey, assign and deliver to
Buyer all of the Seller's right, title and interest in and to ____ shares of
[Common Stock/Series B Preferred Stock] (the "Shares") in the capital of J2
Communications, a [California] Corporation, and Buyer has agreed, by executing
this Assumption Agreement, to assume the burdens and obligations (the
"Obligations") of Seller with respect to the Shares pursuant to that voting
agreement (the "Voting Agreement") dated May 17, 2002 and made between the
Purchasers (as defined therein), the NLAG Shareholders (as defined therein) and
James P. Jimirro ("Jimirro");

        WHEREAS, pursuant to Section [3(a)(i)/3(a)(ii)] of the Voting Agreement,
Buyer is required to execute and deliver to Jimirro this Assumption Agreement
whereby Buyer assumes such obligations;

        NOW, THEREFORE, for and in consideration of the mutual covenants
contained in the Asset Purchase Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Buyer hereby undertakes and agrees from and after the date hereof, to assume and
to perform and discharge when due the Obligations, and otherwise to adhere to
the terms and conditions of the Voting Agreement.

        This Assumption Agreement may be executed in any number of counterparts,
each of which will be deemed an original, but all of which together will
constitute one and the same instrument.

        This Assumption Agreement shall be governed by and construed in
accordance with the Laws of the State of California applicable to a contract
executed and performed in such State, without giving effect to the conflicts of
laws principles thereof.

<PAGE>
        IN WITNESS WHEREOF, the undersigned have [executed/caused their duly
authorized officers to execute] this Assumption Agreement on the day and year
first above written.

                                       -----------------------------------------
                                       SELLER
                                       By:
                                          --------------------------------------
                                       Name:
                                             -----------------------------------
                                       Its:
                                           -------------------------------------

--------------------------------
BUYER
By:
   -----------------------------
Name:
      --------------------------
Its:
     ---------------------------

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