Document:

EXHIBIT 10.30

           CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS OF
           THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY
                           FILED WITH THE COMMISSION.
================================================================================

                             SUBSCRIPTION AGREEMENT

                                      among

                     SOCIETE EUROPEENNE DES SATELLITES, S.A.

                         iBEAM BROADCASTING CORPORATION

                                       and

                              iBEAM EUROPE LIMITED
                            -------------------------

                            Dated as of June 30, 2000

                            -------------------------

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                                TABLE OF CONTENTS

                                                                            Page

ARTICLE 1   DEFINITIONS......................................................1

      1.1   Definitions......................................................1

ARTICLE 2   SUBSCRIPTION FOR ORDINARY SHARES.................................4

      2.1   Subscription for Shares..........................................4

      2.2   Closing..........................................................4

ARTICLE 3   CONDITIONS TO THE OBLIGATION OF THE SUBSCRIBERS TO CLOSE.........4

      3.1   Representations and Warranties...................................5

      3.2   Compliance with this Agreement...................................5

      3.3   Subscription Permitted by Applicable Laws........................5

      3.4   Litigation.......................................................5

      3.5   Consents and Approvals...........................................5

      3.6   Articles of Association..........................................5

      3.7   Transaction Agreements...........................................5

      3.8   Subscription by other Subscribers................................5

ARTICLE 4   CONDITIONS TO THE OBLIGATION OF THE COMPANY TO CLOSE.............6

      4.1   Representations and Warranties...................................6

      4.2   Compliance with this Agreement...................................6

      4.3   Consents and Approvals...........................................6

      4.4   Transaction Agreements...........................................6

ARTICLE 5   REPRESENTATIONS AND WARRANTIES OF THE COMPANY....................6

      5.1   Corporate Existence and Power....................................6

      5.2   Corporate Authorization; No Contravention........................7

      5.3   Binding Effect...................................................7

      5.4   Litigation.......................................................7

      5.5   Compliance with Laws.............................................7

      5.6   Disclosure.......................................................7

      5.7   Subsidiaries.....................................................7

      5.8   Capitalization...................................................8

ARTICLE 6   REPRESENTATIONS AND WARRANTIES OF THE SUBSCRIBERS................8

      6.1   Authorization; No Contravention..................................8

                                       -i-
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                                TABLE OF CONTENTS
                                   (continued)
                                                                            Page

      6.2   Binding Effect...................................................8

ARTICLE 7   INDEMNIFICATION..................................................8

      7.1   Indemnification..................................................8

      7.2   Notification.....................................................9

      7.3   Resolution of Actions............................................9

ARTICLE 8   AFFIRMATIVE COVENANTS............................................9

      8.1   Operation of Company.............................................9

      8.2   Taxes...........................................................10

ARTICLE 9   MISCELLANEOUS...................................................10

      9.1   Obligations of the Subscribers..................................10

      9.2   Termination.....................................................10

      9.3   Survival of Representations and Warranties......................11

      9.4   Notices.........................................................11

      9.5   Successors and Assigns..........................................12

      9.6   Determinations, Requests or Consents............................12

      9.7   Amendment and Waiver............................................12

      9.8   Counterparts....................................................12

      9.9   Headings........................................................13

      9.10  Governing Law...................................................13

      9.11  Jurisdiction....................................................13

      9.12  Severability....................................................13

      9.13  Rights of Third Parties.........................................13

      9.14  Entire Agreement................................................13

      9.15  Publicity.......................................................13

      9.16  Further Assurances..............................................14

                                      -ii-
<PAGE>

         CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS OF THIS
        DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH
                                THE COMMISSION.

                             SUBSCRIPTION AGREEMENT

            SUBSCRIPTION AGREEMENT, dated as of June 30, 2000, among iBEAM
EUROPE LIMITED, a corporation registered in England (the "Company"), SOCIETE
EUROPEENNE DES SATELLITES S.A., a corporation organised and existing under the
laws of Luxembourg ("SES"), and iBEAM BROADCASTING CORPORATION, a corporation
organised and existing under the laws of Delaware ("iBEAM," and together with
SES, the "Subscribers").

            WHEREAS, SES and iBEAM have executed a Memorandum of Understanding,
dated April 10, 2000 (the "MOU") containing the general terms for their
participation in a joint venture company to operate a business for the
distribution of streaming content via the Internet;

            WHEREAS, the Company was established to act as such joint venture
company, in accordance with the terms of the MOU;

            WHEREAS, as of the date hereof, the Company has an authorised share
capital of [*] divided into 4,500,000 ordinary shares of [*] each ("Ordinary
Shares") of which one issued Ordinary Share has been issued to iBEAM;

            WHEREAS, the Company proposes to issue and iBEAM proposes to
subscribe for 100,000 Ordinary Shares on the First Closing Date, ,and 899,999
further Ordinary Shares on or before the Second Closing Date, as each of those
dates is hereafter defined on the terms of this Agreement;

            WHEREAS, the Company proposes to issue and SES proposes to subscribe
for 100,000 Ordinary Shares on the First Closing Date, and 400,000 additional
Ordinary Shares on or before the Second Closing Date on the terms of this
Agreement; and

            WHEREAS, the parties hereto are entering into a Shareholders'
Agreement, dated the date hereof (the "Shareholders' Agreement"), pursuant to
which the parties thereto are agreeing, among other things, to restrict the
transfer of Ordinary Shares.

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

                                   ARTICLE 1

                                   DEFINITIONS

            1.1 Definitions. As used in this Agreement, unless the context
requires otherwise, the following terms have the meanings indicated:

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*     Confidential material redacted and filed separately with the Commission.

<PAGE>

            "Affiliate" means, as to any Person, any other Person directly or
indirectly controlling, controlled by, or under direct or indirect common
control with, such Person. For the purposes of this definition, "control," when
used with respect to any Person, means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership
of voting securities; by contract or otherwise.

            "Agreement" means this Subscription Agreement (including the
schedule hereto) as the same may be amended, supplemented or modified in
accordance with the terms hereof.

            "Articles of Association" means the articles of association of the
Company from time to time.

            "Business Day" means any day other than a Saturday, Sunday or other
day on which commercial banks in London are authorised or required by law or
executive order to close.

            "Closing" has the meaning assigned to that term in Section 2.2.

            "Closing Date" means each date specified as such in Section 2.2.

            "Company Network" means the Internet content distribution network to
be owned and operated by the Company within the Territory;

            "Content Distribution Agreement" means the Content Distribution
Agreement executed by the Company, iBEAM, and iBEAM Asia, Ltd. as of the date
hereof.

            "Contractual Obligations" means, as to any Person, any provision of
any security issued by such Person or of any agreement, undertaking, contract,
indenture, mortgage, deed of trust or other instrument to which such Person is a
party or by which it or any of its property is bound.

            "$" or "dollar" means the lawful currency of the United States of
America.

            "Governmental Authority" means the government of any nation, state,
city, locality or other political subdivision of any thereof, any entity
exercising executive, legislative, judicial, regulatory or administrative
functions of any of the foregoing.

            "iBEAM Technology License Agreement" means the Technology License
Agreement executed by the Company and iBEAM as of the date hereof.

            "Indemnified Party" has the meaning assigned to such term in Section
7.1 or 7-22.

            "Indemnifying Party" has the meaning assigned to such term in
Section 7.1 or 7.2.

            "Intellectual Property" means all of the following as they exist in
all jurisdictions throughout the world:

                  (i) patents and patent applications (including any divisions,
            continuations, continuations-in-part, substitutions or reissues
            thereof, whether or not patents are issued on such applications and
            whether or not such applications are modified, withdrawn or
            resubmitted) ("Patents");

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<PAGE>

                  (ii) trademarks, service marks, trade names, brand names,
            designs and logos, corporate names, product or service identifiers,
            whether registered or unregistered, and all registrations and
            applications for registration thereof (collectively, "Trademarks");

                  (iii) copyright registrations and applications for
            registration thereof, and any non-registered copyrights
            ("Copyrights");

                  (iv) trade secrets, inventions (whether or not patentable and
            whether or not reduced to practice), invention disclosures and
            improvements thereto (collectively, "Trade Secrets");

                  (v) proprietary computer software programs and source code;
            and

                  (vi) any other information concerning the Company that is not
            generally available to the public and which is treated as
            confidential or proprietary by the Company (collectively,
            "Confidential Information").

            "Liabilities" has the meaning assigned to such term in Section 7.1.

            "Lien" means any mortgage, deed of trust, pledge, hypothecation,
assignment, encumbrance, lien (statutory or other) or preference, priority,
right or other security interest or preferential arrangement of any kind or
nature whatsoever (excluding preferred stock or equity related preferences),
including, without limitation, those created by, arising under or evidenced by
any conditional sale or other title retention agreement, any interest of a
lessor under a capital lease, or any financing lease having substantially the
same economic effect as any of the fore-going.

            "Ordinary Shares" means ordinary shares of [*] each in the capital
of the Company having the rights and restrictions set out in the Articles of
Association.

            "Person" means any individual, firm, corporation, partnership,
trust, incorporated or unincorporated association, joint venture, joint stack
company, Governmental Authority or other entity of any kind, and shall include
any successor (by merger or otherwise) of any such entity.

            "Requirements of Law" means, as to any Person, the articles of
association or other organizational or governing documents of such Person, and
any law, treaty, rule, regulation or determination of an arbitrator or a court
or other Governmental Authority, in each case (i) applicable or binding upon
such Person or any of its properties or to which such Person or any of its
properties is subject or (ii) pertaining to any or all of the transactions
contemplated herein.

            "SES Services Agreement" means the Services Agreement executed by
the Company and SES as of the date hereof.

            "Shareholders' Agreement" means the Shareholders' Agreement executed
by the parties hereto as of the date hereof.

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*     Confidential material redacted and filed separately with the Commission.

                                       3
<PAGE>

            "Subsidiary" means, with respect to any Person, a corporation or
other entity of which 50% or more of the voting power of the voting equity
securities or equity interests is owned, directly or indirectly, by such Person.
Unless otherwise qualified, all references to a "Subsidiary" or to
"Subsidiaries" in this Agreement shall refer to a Subsidiary or Subsidiaries of
the Company.

            "Tax" or "Taxes" means all federal, state, county, local, foreign
and other taxes (including, without limitation, income, profits, premium,
estimated, excise, sales, use, occupancy, gross receipts, franchise, ad valorem,
severance, capital levy, production, transfer, withholding, employment,
unemployment compensation, payroll-related and property taxes, import duties and
other governmental charges and assessments), whether or not measured in whole or
in part by net income, and including deficiencies, interest, additions to tax or
interest, and penalties with respect thereto.

            "Transaction Agreements" means, collectively, this Agreement, the
Shareholders' Agreement, the Content Distribution Agreement, the iBEAM
Technology License Agreement, and the SES Services Agreement.

                                   ARTICLE 2

                        SUBSCRIPTION FOR ORDINARY SHARES

            2.1 Subscription for Shares. Subject to the terms and conditions
herein set forth, the Company agrees that it will issue to each of the
Subscribers on each Closing Date, and each of the Subscribers, severally and not
jointly, agrees that it will subscribe on each Closing Date for the number of
Ordinary Shares set forth next to such Subscriber's name for each such Closing
Date on Schedule 2.1 hereto. The subscription price of the Ordinary Shares to be
acquired by each Subscriber on each Closing Date shall be as set forth in
relation to that Subscriber's name on Schedule 2.1 hereto for that Closing Date.
The Ordinary Shares shall be issued, credited as fully paid, and shall have the
rights attached thereto set out in the Articles of Association and the
Shareholders' Agreement.

            2.2 Closing. The subscription shall take place at each of two
closings (each, a "Closing"). The first Closing shall be on July 21, 2000 (the
"First Closing Date"), and the second Closing shall be July 28, 2000 (the
"Second Closing Date"; the First Closing Date and Second Closing Date, each
referred to as a "Closing Date") or at such other times as the Company and the
Subscribers may agree in writing. At each Closing, the Company shall deliver to
each Subscriber a share certificate representing the Ordinary Shares purchased
by that Subscriber on that Closing Date against delivery to the Company by that
Subscriber of the subscription price therefor by wire transfer of immediately
available funds to an account specified in writing by the Company.

                                   ARTICLE 3

            CONDITIONS TO THE OBLIGATION OF THE SUBSCRIBERS TO CLOSE

            On each Closing Date, the obligation of each Subscriber to subscribe
for the Ordinary Shares on that Closing Date as specified in Schedule 2.1, and
to perform any obligations hereunder, shall be subject to the satisfaction of
the following conditions on or before that Closing Date (subject to any waiver
of any such condition by any Subscriber):

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<PAGE>

            3.1 Representations and Warranties. The representations and
warranties of the Company contained in Article 5 hereof shall be true and
correct at and as of the First Closing Date as if made at and as of such date.
Said representations and warranties shall be restated in full on the Second
Closing Date, and shall be true and correct on and as of that date as if made on
that date.

            3.2 Compliance with this Agreement. The Company shall have performed
and complied with all of the agreements and conditions set forth or contemplated
herein that are required to be performed or complied with on or before the
applicable Closing Date.

            3.3 Subscription Permitted by Applicable Laws. The subscription
including payment for the Ordinary Shares to be subscribed by the Subscribers
hereunder and the consummation of the transactions contemplated hereby for that
Closing Date (i) shall not be prohibited by any Requirement of Law, (ii) shall
not subject any of the Subscribers to any penalty or, in their reasonable
judgment, any other onerous condition under or pursuant to any Requirement of
Law and (iii) shall be permitted by all Requirements of Law to which they or the
transactions contemplated by or referred to herein are subject; and the
Subscribers shall have received such certificates or other evidence as they may
request to establish compliance with this condition.

            3.4 Litigation. There shall be no legal actions, suits, judgments,
proceedings, investigations, claims or disputes pending or, to the Company's
knowledge, threatened, at law, in equity, in arbitration or before any
Governmental Authority against or affecting the Company.

            3.5 Consents and Approvals. All approvals, consents, exemptions,
authorizations, or other actions by, or notices to, or filings with,
Governmental Authorities and other Persons in respect of all Requirements of Law
and Contractual Obligations of the Company necessary or required in connection
with the execution, delivery or performance (including, without limitation, the
issuance of Ordinary Shares) by the Company, or enforcement against the Company,
of the Transaction Agreements to which it is a party, and the transactions
contemplated thereby for that Closing Date shall have been obtained and be in
full force and effect, and the Subscribers shall have been furnished with
appropriate evidence thereof, and all applicable waiting periods shall have
lapsed without extension or the imposition of any conditions or restrictions.

            3.6 Articles of Association. The Articles of Association of the
Company shall be in form and substance satisfactory to the Subscribers and shall
be unchanged from such form and substance as of each of the Closing Dates.

            3.7 Transaction Agreements. Each of the Transaction Agreements shall
have been duly executed and delivered by the Company and the other party or
parties named therein, and shall be in full force and effect.

            3.8 Subscription by other Subscribers. Each other Subscriber shall
have paid in full the subscription price for the Ordinary Shares to be acquired
by such other Subscriber on such Closing Date, as set forth on Schedule 2.1
hereto.

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<PAGE>

                                   ARTICLE 4

              CONDITIONS TO THE OBLIGATION OF THE COMPANY TO CLOSE

            On each Closing Date, the obligation of the Company to issue the
Ordinary Shares to be issued by the Company on that Closing Date as specified in
Schedule 2.1, and to perform any obligations hereunder, shall be subject to the
satisfaction of the following conditions on or before that Closing Date (subject
to any waiver of any such condition by the Company):

            4.1 Representations and Warranties. The representations and
warranties of the Subscribers contained in Article 6 hereof shall be true and
correct at and as of the First Closing Date as if made at and as of such date.
Said representations and warranties shall be restated in full on the Second
Closing Date, and shall be true and correct on and as of that date as if made as
of that date.

            4.2 Compliance with this Agreement. The Subscribers shall have
performed and complied in all material respects with all of their agreements and
conditions set forth or contemplated in any Transaction Agreement that are
required to be performed or complied with by the Subscribers on or before the
relevant Closing Date.

            4.3 Consents and Approvals. All approvals, consents, exemptions,
authorizations, or other actions by, or notices to, or filings with,
Governmental Authorities and other Persons in respect of all Requirements of Law
and Contractual Obligations of the Subscribers necessary or required in
connection with the execution, delivery or performance by the Subscribers, or
enforcement against the Subscribers, of the Transaction Agreements shall have
been obtained and be in full force and effect, and the Company shall have been
furnished with appropriate evidence thereof, and all applicable waiting periods
shall have lapsed without extension or the imposition of any conditions or
restrictions.

            4.4 Transaction Agreements. Each of the Subscribers shall have duly
executed and delivered each of the Transaction Agreements to which such
Subscriber is a party, and said Transaction Agreements shall be in full force
and effect.

                                   ARTICLE 5

                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

            The Company hereby represents and warrants to the Subscribers as
follows:

            5.1 Corporate Existence and Power.

                                       6
<PAGE>

                  (a) The Company: (i) is duly incorporated with limited
liability in England; (ii) has all requisite corporate power and authority to
conduct the business in which it is currently, or is currently proposed to be,
engaged; and (iii) has the corporate power and authority to execute, deliver and
perform its obligations under each Transaction Agreement to which it is or will
be a party.

                  (b) The copy of the Articles of Association made available to
each of the subscribers is a true and complete copy thereof as in effect as of
the date hereof. The minute books of the Company, copies of which have been made
available to the Subscribers as of the date hereof, contain true and complete
records of all meetings and consents in lieu of meetings of the Board of
Directors (and any committee thereof) of the Company, as the case may be, since
its incorporation and accurately reflect all material transactions referred to
in such minutes and consents in lieu of meeting as of that date. The register of
members of the Company, a copy of which has been made available to the
Subscribers for their inspection before the date hereof, are true and complete.

            5.2 Corporate Authorization; No Contravention. The execution and
delivery by the Company of each Transaction Agreement to which it is a party and
the performance of the transactions contemplated hereby or thereby, including,
without limitation, the issue of the Ordinary Shares, (i) have been duly
authorized, and (ii) do not contravene the Company's Articles of Association.

            5.3 Binding Effect. This Agreement and the other Transaction
Agreements have been duly executed and delivered by the Company.

            5.4 Litigation. There are no legal actions, suits, judgments,
proceedings, investigations, claims or disputes pending or, to the Company's
knowledge, threatened, at law, in equity, in arbitration or before any
Governmental Authority against or affecting the Company. There are no
injunctions, writs, temporary restraining orders or the like in effect or, to
the Company's knowledge, threatened that could enjoin or restrain the execution,
delivery or performance of the Transaction Agreements.

            5.5 Compliance with Laws. The Company is in compliance in all
material respects with all Requirements of Law, the failure to comply with which
would have a material adverse effect on the Condition of the Company.

            5.6 Disclosure. The representations and warranties contained in this
Agreement and in any other agreements, documents and certificates furnished to
the Subscribers by the Company in connection with the transactions contemplated
hereby do not contain any untrue statement of a material fact or omit to state a
material fact necessary in order to make any statement contained herein or
therein, in the light of the circumstances under which it was made, not
misleading.

            5.7 Subsidiaries. There are no Subsidiaries of the Company, and the
Company has not engaged in any transaction whereby it will acquire or establish
any Subsidiary.

                                       7
<PAGE>

            5.8 Capitalization. The authorized share capital of the Company is
divided into 4.5 million Ordinary Shares of [*] each. Prior to the date hereof,
one Ordinary Share had been issued fully paid, which Share is owned by iBEAM.
Assuming consummation of the first Closing, as of the First Closing Date,
200,001 Ordinary Shares will be issued, 100,001 of which will be owned by iBEAM,
and 100,000 of which shall be owned by SES. Assuming consummation of the first
and second Closings, as of the Second Closing Date, 1,500,000 Ordinary Shares
will be issued, of which 1,000,000 Ordinary Shares will be owned by iBEAM and
500,000 Ordinary Shares will be owned by SES.

                                   ARTICLE 6

                REPRESENTATIONS AND WARRANTIES OF THE SUBSCRIBERS

            Each of the Subscribers, severally and not jointly, hereby
represents and warrants as follows:

            6.1 Authorization; No Contravention. The execution, delivery and
performance by such Subscriber of each Transaction Agreement (a) is within such
Subscriber's power and authority and has been duly authorized by all necessary
action (corporate, partnership or otherwise), (b) does not contravene the teens
of such Subscriber's organizational documents or any amendment thereof, and (c)
will not violate, conflict with or result in any breach or contravention of or
the creation of any Lien under any Contractual Obligation of such Subscriber or
any Requirement of Law applicable to such Subscriber.

            6.2 Binding Effect. This Agreement and the other Transaction
Agreements to which such Subscriber is a party have been duly executed and
delivered by such Subscriber, and each constitutes the legal, valid and binding
obligation of such Subscriber enforceable against it in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency or other similar laws affecting the enforcement of creditors' rights
generally or by equitable principles relating to enforceability.

                                   ARTICLE 7

                                 INDEMNIFICATION

            7.1 Indemnification. In addition to all other sums due hereunder or
provided for in this Agreement, the Company (the "Indemnifying Party" for
purposes of indemnification under this Section 7.1) agrees to indemnify and hold
harmless each of the Subscribers and their Affiliates and their respective
officers, directors, agents, employees, subsidiaries, partners and controlling
persons (each, an "Indemnified Party" for purposes of indemnification under this
Section 7.1) to the fullest extent permitted by law from and against all losses,
claims, damages, expenses (including, without limitation, reasonable fees,
disbursements and other charges of counsel) or other liabilities (collectively,
"Liabilities") resulting from or arising out of any breach of any representation
or warranty, covenant or agreement of the Indemnifying Party in any Transaction
Agreement, or any legal, administrative or other actions, proceedings or
investigations (whether formal or informal), or written threats thereof, based
upon, relating to or arising out of this Agreement, any other

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*     Confidential material redacted and filed separately with the Commission.

                                       8
<PAGE>

Transaction Agreement or any transaction contemplated hereby or thereby or any
Indemnified Party's role therein or in any transaction contemplated hereby or
thereby; provided, however, that the Indemnifying Party shall not be liable
under this Section 7.1 to an Indemnified Party (i) for any amount paid in
settlement of claims without the Indemnifying Party's consent (which consent
shall not be unreasonably withheld), (ii) to the extent that it is finally
judicially determined that such Liabilities resulted primarily from the wilful
misconduct or gross negligence of such Indemnified Party, or (iii) to the extent
that it is finally judicially determined that such Liabilities resulted from the
breach by such Indemnified Party of any representation, warranty, covenant or
other agreement of such Indemnified Party contained in any Transaction
Agreement.

            7.2 Notification. Each Indemnified Party under this Article 7 will,
promptly after the receipt of notice of the commencement of any action,
investigation, claim or other proceeding against such Indemnified Party in
respect of which indemnity may be sought from an Indemnifying Party under this
Article 7, notify the Indemnifying Party in writing of the commencement thereof.
The omission of any Indemnified Party to so notify the Indemnifying Party of any
such action shall not relieve the Indemnifying Party from any liability which it
may have to such Indemnified Party (i) other than pursuant to this Article 7 or
(ii) under this Article 7 unless, and only to the extent that, such omission
results in the forfeiture or impairment of substantive rights or defenses. In
case any such action, claim or other proceeding shall be brought against any
Indemnified Party and it shall notify the Indemnifying Party of the commencement
thereof, the Indemnifying Party shall be entitled to assume the defense thereof
at its own expense, with counsel satisfactory to such Indemnified Party in its
reasonable judgment; provided, however, that any Indemnified Party may, at its
own expense, retain separate counsel to participate in such defense.
Notwithstanding the foregoing, in any action, claim or proceeding in which the
Indemnifying Party, on the one hand, and an Indemnified Party, on the other
hand, is, or is reasonably likely to become, a party, such Indemnified Party
shall have the right to employ separate counsel at the Indemnifying Party's
expense and to control its own defense of such action, claim or proceeding if,
in the reasonable opinion of counsel to such Indemnified Party, a conflict or
potential conflict exists between the Indemnifying Party, on the one hand, and
such Indemnified Party, on the other hand, that would make such separate
representation necessary to avoid prejudice to the Indemnified Party.

            7.3 Resolution of Actions. Each Indemnifying Party agrees that it
will not, without the prior written consent of the relevant Indemnified Parties,
settle, compromise or con-sent to the entry of any judgment in any pending or
threatened claim, action or proceeding relating to the matters contemplated by
this Article (if any Indemnified Party is a party thereto or has been actually
threatened to be made a party thereto) unless such settlement, compromise or
consent includes an unconditional release of the Subscribers and each other
Indemnified Party from all liability arising or that may arise out of such
claim, action or proceeding. The rights accorded to Indemnified Parties
hereunder shall be in addition to any rights that any Indemnified Party may have
at common law, by separate agreement or otherwise.

                                   ARTICLE 8

                              AFFIRMATIVE COVENANTS

            8.1 Operation of Company. From and after the date hereof through the
Second Closing Date, the Company shall not enter into arty transaction or take
any action other than in the ordinary course of business, except that the
Company may enter into such transactions and take

                                       9
<PAGE>

such other actions outside of the ordinary course of business if specifically
approved in advance in writing by the Subscribers, or as may be permitted by the
Transaction Agreements.

            8.2 Taxes. The Company shall prepare and timely file, in accordance
with applicable laws and regulations, all Tax returns required to be filed on or
before each Closing Date, and all such Tax returns will be true and complete in
all material respects. The Company shall timely pay all Taxes required to be
paid by them on or before each Closing Date, or that are claimed or asserted by
any taxing authority to be due on or before each Closing Date, except for those
Taxes that are being contested in good faith by appropriate proceedings and with
respect to which adequate reserves have been set aside.

                                   ARTICLE 9

                                  MISCELLANEOUS

            9.1 Obligations of the Subscribers. Each Subscriber's obligation and
the obligations of the Company hereunder are subject to the execution and
delivery of this Agreement by the other Subscriber. The obligations of each
Subscriber shall be several and not joint and no Subscriber shall be liable or
responsible for the acts of the other Subscriber.

            9.2 Termination.

                  (a) This Agreement may be terminated prior to the Second
Closing Date, as to transactions scheduled to take place on the Second Closing
Date, as follows:

                        (i) at the election of the Company if any one or more of
the conditions to its obligation to close has not been fulfilled as of the
Second Closing Date;

                        (ii) at the election of either of the Subscribers if any
one or more of the conditions to their obligation to close has not been
fulfilled as of the Second Closing Date;

                        (iii) at the election of the either of the Subscribers
if the other Subscriber has breached a covenant or agreement contained in this
Agreement, which breach cannot be or is not cured by the Second Closing Date;

                        (iv) at the election of either of the Subscribers if the
Company has breached a covenant or agreement contained in this Agreement, which
breach cannot be or is not cured by the Second Closing Date; or

                        (v) at any time on or prior to the Second Closing Date,
by mutual written consent of the Company and the Subscribers.

            If this Agreement so terminates, it shall become null and void and
have no further force or effect, except as provided in Section 9.2(b).

                                       10
<PAGE>

                  (b) If this Agreement is terminated in accordance with Section
9.2(a) and any of the transactions contemplated by this Agreement are not
consummated, this Agreement shall become null and void and of no further force
and effect with respect to those transactions not consummated, except for the
provisions of Article 7. Any such termination shall have no effect on
transactions consummated on the First Closing Date, and such consummated
transactions shall continue to be governed by the Transaction Agreements to the
fullest extent possible. None of the parties shall have any liability in respect
of a termination of this Agreement except to the extent that failure to satisfy
any conditions results from the intentional or willful violation by such party
of its obligations contained in this Agreement or any documents delivered
pursuant to this Agreement.

            9.3 Survival of Representations and Warranties. All of the
representations and warranties made herein shall survive the execution and
delivery of this Agreement, any investigation by or on behalf of the
Subscribers, acceptance of the Ordinary Shares and payment therefor, or
termination of this Agreement and shall remain in full force and effect until
the second anniversary of the Second Closing Date.

            9.4 Notices. All notices, demands and other communications provided
for or permitted hereunder shall be made in writing and shall be sent by
registered or certified first-class mail (return receipt requested), telecopier,
courier service or personal delivery:

                  (a)   if to the Company, to:

                        iBEAM Europe Limited
                        c/o Gouldens Solicitors
                        10 Old Bailey
                        London EC4M 7NG
                        Attention: Hilary Winter, Esq.
                                   Jerome Lussan, Esq.
                        Telecopier: 44-20-7583-6777

                  (b)   if to iBEAM, to:

                        iBEAM Broadcasting Corporation
                        645 Almanor Avenue, Suite 100
                        Sunnyvale, California 94086
                        Attention: General Counsel
                        Telecopier: (408) 524-0567

                  (c)   if to SES, to:

                        Societe Europeenne des Satellites, S.A.
                        L-6815 Chateau de Betzdorf
                        Luxembourg
                        Attention: Jacques Noppaney, Esq.
                        Telecopier: 352-710-725-291

                        with a copy to:

                                       11
<PAGE>

                        Phillip L. Spector, Esq.
                        Paul, Weiss, Rifkind, Wharton & Garrison
                        1615 L Street, NW
                        Suite 1300
                        Washington, D.C. 20037
                        Telecopier: 202-223-7427

            All such notices and communications shall be deemed to have been
duly given: when delivered by hand, if personally delivered; when delivered by
courier, if delivered by commercial overnight courier service; when delivered,
as evidenced by the return receipt, if mailed; and when receipt is acknowledged,
if telecopied.

            9.5 Successors and Assigns. Each Subscriber may assign this
Agreement to an Affiliate. This Agreement shall inure to the benefit of and be
binding upon the successors and permitted assigns of the parties hereto. The
Company may not assign any of its rights or obligations under this Agreement
without the written consent of the Subscribers. Except as provided in Article 7,
no Person other than the parties hereto and their successors and permitted
assigns is intended to be a beneficiary of any of the Transaction Agreements.

            9.6 Determinations, Requests or Consents. All determinations,
requests, consents, waivers or amendments to be made by the Subscribers on or
before a particular Closing Date in their opinion or judgment, or with their
approval or otherwise, pursuant to this Agreement shall be made (i) if prior to
that Closing Date, by all Subscribers, or (ii) if after that Closing Date, by
the holders of a majority of the Ordinary Shares issued pursuant to this
Agreement.

            9.7 Amendment and Waiver.

                  (a) No failure or delay on the part of any party hereto in
exercising any right, power or remedy hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right, power or
remedy preclude any other or further exercise thereof or the exercise of any
other right, power or remedy. The remedies provided for herein are cumulative
and are not exclusive of any remedies that may be available to any party hereto
at law, in equity or otherwise.

                  (b) Any amendment, supplement or modification of or to any
provision of this Agreement, any waiver of any provision of this Agreement, and
any consent to any departure by any party hereto from the terms of any provision
of this Agreement, shall be effective (i) only if it is made or given in writing
and signed by the other parties hereto (to the extent required by Section 9.6)
and (ii) only in the specific instance and for the specific purpose for which
made or given. Except where notice is specifically required by this Agreement,
no notice to or demand on any party hereto in any case shall entitle such party
to any other or further notice or demand in similar or other circumstances.

            9.8 Counterparts. This Agreement may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.

                                       12
<PAGE>

            9.9 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

            9.10 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of England.

            9.11 Jurisdiction. In the event of any dispute or controversy
arising out of or relating to this Agreement , the parties shall first attempt
in good faith amicably to resolve such dispute or controversy. If such attempt
fails to resolve the dispute or controversy within thirty (30) days of any
written request from one of the parties to try in good faith to resolve the
dispute amicably, the dispute shall be settled by arbitration in London or any
other place agreeable by the Parties involved in such dispute, in accordance
with the UNCITRAL Arbitration Rules, and shall be conducted in the English
language. The number of arbitrators shall be 3. The award rendered by the
arbitrators shall be final and binding upon the parties concerned.

            9.12 Severability. If any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions hereof shall not be in any way impaired, unless the provisions held
invalid, illegal or unenforceable shall substantially impair the benefits of the
remaining provisions hereof.

            9.13 Rights of Third Parties. Nothing contained in this Agreement,
expressed or implied, is intended to confer on any person other than the parties
hereto or their respective successors and assigns, any rights, remedies,
obligations or liabilities under or by reason of this Agreement.

            9.14 Entire Agreement. This Agreement and the other Transaction
Agreements are intended by the parties to be a final expression of their
agreement and intended to be a complete and exclusive statement of the agreement
and understanding of the parties hereto in respect of the subject matter
contained herein and therein. There are no restrictions, promises, warranties or
undertakings other than those set forth or referred to herein or therein. This
Agreement and the other Transaction Agreements supersede all prior agreements
and understandings between the parties with respect to such subject matter.

            9.15 Publicity. Except as may be required by applicable law, none of
the parties hereto shall issue a publicity release or announcement or otherwise
make any public disclosure concerning this Agreement or the transactions
contemplated hereby, without prior approval by the other parties hereto (which
approval shall not be unreasonably withheld). If any announcement is required by
law to be made by any party hereto, prior to making such announcement such party
will deliver a draft of such announcement to the other parties and shall give
the other parties a reasonable opportunity to comment thereon.

                 (Balance of this page intentionally left blank)

                                       13
<PAGE>

            9.16 Further Assurances. Each of the parties shall execute such
documents and perform such further acts (including, without limitation,
obtaining any consents, exemptions, authorizations, or other actions by, or
giving any notices to, or making any filings with, any Governmental Authority or
any other Person) as may be reasonably required or desirable to carry out or to
perform the provisions of this Agreement.

            IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed and delivered as of the date first above written.

                                    iBEAM EUROPE LIMITED

                                    By:_________________________________________
                                         Name:
                                         Title:

                                    iBEAM BROADCASTING CORPORATION

                                    By:_________________________________________
                                         Name:
                                         Title:

                                    SOCIETE EUROPEENNE DES SATELLITES, S.A.

                                    By:_________________________________________
                                         Name:
                                         Title:

                                    By:_________________________________________
                                         Name:
                                         Title:
<PAGE>

                                  SCHEDULE 2.1

                            Dated as of June 30, 2000

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                         Ordinary Shares

           Shares held as of              Shares to be purchased       Shares to be purchased
            the date hereof                       on the                  on or before the
                                            First Closing Date           Second Closing Date
          Subscriber            Shares     Shares      Total Price      Shares        Total Price
          ----------            ------     ------      -----------      ------        -----------
                                       (First Closing)              (Second Closing)

<S>                                <C>     <C>             <C>         <C>                 <C>
iBEAM Broadcasting Corporation     1       100,000         [*]           899,999           [*]

Societe                            0       100,000         [*]           400,000           [*]
Europeenne des
Satellites, S.A.

Total Ordinary Shares              1       200,000         [*]         1,299;999          [*]
</TABLE>

--------
*     Confidential material redacted and filed separately with the Commission.EXHIBIT 10.31

        CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS OF THIS
        DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH
                                THE COMMISSION.

                             SHAREHOLDERS' AGREEMENT

            SHAREHOLDERS' AGREEMENT, dated as of June 30, 2000, between iBEAM
EUROPE LIMITED, a corporation registered in England (the "Company"), SOCIETE
EUROPEENNE DES SATELLITES S.A., a corporation organised and existing under the
laws of Luxembourg ("SES"), and iBEAM BROADCASTING CORPORATION, a corporation
organised and existing under the laws of Delaware ("iBEAM," and together with
SES, the "Shareholders").

            WHEREAS, SES and iBEAM have executed a Memorandum of Understanding,
dated April 10, 2000 (the "MOU") containing the general terms for their
participation in a joint venture company to operate a business for the
distribution of streaming content via the Internet;

            WHEREAS, the Company was established to act as such joint venture
company, in accordance with the terms of the MOU;

            WHEREAS, as of the date hereof, iBEAM owns one ordinary share of [*]
per share, of the Company ("Ordinary Shares"), and intends to acquire 999,999
additional Ordinary Shares as set forth in Schedule I hereto;

            WHEREAS, SES intends to acquire 500,000 Ordinary Shares as set forth
in Schedule I hereto;

            WHEREAS, the parties hereto wish to restrict the transfer of their
Ordinary Shares, to provide for non-competition obligations, pre-emptive rights
and certain other rights and obligations as set forth more fully herein.

            NOW, THEREFORE, in consideration of the mutual promises and
agreements set forth herein, the parties hereto agree as follows:

            1. Definitions. As used in this Agreement, the following terms shall
have the meanings set forth below:

                  "Affiliate" of any Person means any other Person directly or
indirectly controlling, controlled by or under common control with such Person.
For the purposes of this definition, "control," when used with respect to any
Person, means the power to direct or cause the direction of the management or
policies of such Person, directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise.

                  "Articles of Association" means the Articles of Association of
the Company from time to time.

----------
*     Confidential material redacted and filed separately with the Commission.
<PAGE>

                  "Board of Directors" means the Board of Directors of the
Company.

                  "Commission" means the United States Securities and Exchange
Commission or any similar agency then having jurisdiction to enforce the
Securities Act.

                  "Company Network" means the Internet content distribution
network to be owned and operated by the Company within the Territory.

                  "Company NOC" means any NOC providing 24-hour per day, 7-day
per week monitoring, first-line technical support, and related services to the
Company Network.

                  "Content Distribution Agreement" means the Content
Distribution Agreement executed by the Company, iBEAM and iBEAM Asia, Ltd. as of
the date hereof.

                  "dollar" or "$" means the lawful currency of the United States
of America.

                  "Ex-Territory ICP" means an ICP whose billing address (for
purposes of the service being provided by the Company to the ICP) is located
outside of the Territory.

                  "iBEAM Technology License Agreement" means the Technology
License Agreement executed by the Company and iBEAM as of the date hereof.

                  "ICP" means any Person whose business includes the delivery of
visual and/or audio media content over the Internet for receipt by end users.

                  "In-Territory ICP" means an ICP whose billing address (for
purposes of the service being provided by the Company to the ICP) is located
inside of the Territory.

                  "Initial Public Offering" means the Company's initial Public
Offering or flotation.

                  "Internet Content" means streaming media content, whether
video and/or audio, and such other content as the Company may from time to time
designate as being compatible with the Company Network.

                  "Intellectual Property" has the meaning assigned to that term
in the Subscription Agreement.

                  "IPO Effectiveness Date" means the date upon which the
Commission declares effective the Registration Statement relating to the Initial
Public Offering or the date upon which the Ordinary Shares are admitted to a
recognised investment exchange (as defined in section 207 of the Financial
Services Act 1986).

                  "New Issuance" has the meaning assigned such term in Section
3.2.1.

                  "NOC" means a network operations centre.

                                       2
<PAGE>

                  "Ordinary Shares" means the ordinary shares of [*] each, of
the Company with the rights set out in the Articles of Association of the
Company.

                  "Party" means SES, iBEAM or the Company.

                  "Parties" mean SES, iBEAM and the Company.

                  "Person" means any individual, firm, corporation, partnership,
limited liability company, trust, incorporated or unincorporated association,
joint venture, joint stock company, governmental body or other entity of any
kind.

                  "Proprietary Information" has the meaning assigned such term
in Section 7.1:

                  "Public Offering" means any offer for sale of Ordinary Shares
either pursuant to an effective Registration Statement filed under the
Securities Act or in connection with the flotation of the Company on a
recognised investment exchange.

                  "Registration Statement" means a registration statement filed
pursuant to the Securities Act.

                  "Securities Act" means the Securities Act of 1933, as amended,
and the rules and regulations of the Commission thereunder.

                  "SES Services Agreement" means the Services Agreement executed
by the Company and SES as of the date hereof.

                  "Shareholder" means any Person that is the registered holder
of Ordinary Shares.

                  "Standard Rate" means the Company's then-current volume
weighted average cost charged by the Company to its in-Territory ICPs.

                  "Subscription Agreement" means the Subscription Agreement
executed by the Parties as of the date hereof.

                  "Strategic Investment Issuance" means the issue within 90 days
of the date of this Agreement to strategic investors of new Ordinary Shares or
other share capital of the Company valued act [*] (based upon a pre-money
valuation of the Company of [*].

                  "Territory" means the countries and regions specified in
Schedule II hereof, as such schedule may be amended by the Parties in accordance
with this Agreement.

                  "Transaction Agreements" means, collectively, this Agreement,
the Subscription Agreement, the Content Distribution Agreement, the iBEAM
Technology License Agreement, and the SES Services Agreement.

----------
*     Confidential material redacted and filed separately with the Commission.

                                       3
<PAGE>

                  "Transfer" has the meaning assigned to such term in Section
3.1.

                  "Virtual Private Network" or "VPN" means a network partially
connected to the Internet that provides an encrypted connection between a user's
distributed sites.

            2. Activities of the Company.

                  2.1 General. It is the intention of the Shareholders that the
primary business of the Company shall include (i) selling, marketing and
providing Internet content delivery, hosting, and encoding services to
In-Territory ICPs to enable end users to receive such ICPs' streaming content,
and (ii) providing similar services to Ex-Territory ICPs with whom iBEAM or an
iBEAM Affiliate has an agreement to distribute such ICP's content within the
Territory.

                  2.2 Business Plan. The Company shall conduct its business in
accordance with a business plan as created in accordance with Section 6.1.1
hereto, and as amended from time to time in accordance with Section 4.5. hereof
(the "Business Plan")

                  2.3 Technology. The Company shall conduct its business in
accordance with the iBEAM Technology License Agreement and the SES Services
Agreement.

                  2.4 Network Operations. The Company will establish a Company
NOC. The Company NOC's functions shall be to ensure the continuous operation of
the Company Network in the Territory and to provide first line customer support
for the Company's clients. The Company NOC will form part of the global iBEAM
network control system and will work to share responsibilities with the other
regional NOCs.

                  2.5 Content Distribution. [*]

                  2.6 Customer Referrals. [*]

                  2.7 Territory. The Company shall operate only within the
Territory.

            3. Restrictions on the Transfer of Ordinary Shares; Preemptive
Rights.

                  3.1 Limitation on Transfers. Except as permitted in Section
3.1.1 hereof, no Shareholder shall sell, give, assign, hypothecate, pledge,
encumber, grant a security interest in, or otherwise dispose of (whether by
operation of law, or otherwise) any Ordinary Shares or any right, title or
interest therein or thereto (each a "Transfer"), other than in a bona fide sale
of such Ordinary Shares in accordance with the provisions of this Agreement. Any
attempt to Transfer any Ordinary Shares in violation of the preceding sentence
shall be null and void ab initio and the Company shall not register any such
Transfer.

                        3.1.1 Permitted Transfers. At any time a Shareholder may
Transfer Ordinary Shares to any Affiliate of such Shareholder.

                        3.1.2 Permitted Transfer Procedures. If any Shareholder
desires to Transfer all or any portion of its Ordinary Shares to its Affiliate
under this Section 3.1, it shall give

----------
*     Confidential material redacted and filed separately with the Commission.

                                       4
<PAGE>

notice to the Company (and the Company shall give notice to the other
Shareholder) of its intention to make such Transfer not less than five (5) days
prior to effecting such Transfer, which notice shall state the name and address
of each Affiliate to whom such Transfer is proposed and the number of Ordinary
Shares proposed to be transferred to such Affiliate.

                        3.1.3 Compliance with Law; Substitution of Transferee.
No Transfer may be made pursuant to this Section 3.1 unless (i) the Transfer
complies in all respects with the applicable provisions of this Agreement and
applicable law, (ii) the transferee undertakes in the form set out in Schedule
III to be bound by the terms and conditions of this Agreement, and (iii) the
transferor of the Ordinary Shares agrees in writing to use its best endeavours
to maintain its Affiliate as an Affiliate. Any attempt to Transfer any Ordinary
Shares or rights hereunder in violation of this Agreement shall be null and void
ab initio and the Company shall not register any such Transfer.

                  3.2 Pre-emptive Rights.

                        3.2.1 New Issuances. In the event that the Company
determines, in accordance with the provisions contained in the Articles of
Association and this Agreement, to issue relevant securities (as defined in
section 80(2) of the Companies Act 1985) ("Relevant Securities") (other than
relevant securities to be issued, in accordance with the Articles of
Association, (i) in connection with an employee share option plan or other bona
fide employment compensation arrangement, (ii) pursuant to a consolidation or
sub-division or an issue of shares in lieu of a dividend, (iii) pursuant to the
exercise of any option, warrant or convertible security the issuance of which
was previously approved by the Board, (iv) in connection with the Strategic
Investment Issuance, (v) in connection with financing transactions with lending
institutions, or (vi) pursuant to an Initial Public Offering) (a "New
Issuance"), the Company shall notify the Shareholders of the proposed issue.
Such notice shall specify the number and class of securities to be issued, the
rights, terms and privileges thereof and the estimated price at which such
securities will be issued. By written notice to the Company given within 15 days
of receipt of such notification, each Shareholder shall be entitled to purchase
that percentage of the New Issuance determined by dividing (x) the total number
of Ordinary Shares owned by such Shareholder by (y) the total number of Ordinary
Shares then owned by all of the Shareholders.

                        3.2.2 Subscription for Unsubscribed Ordinary Shares. If
any of the Shareholders do not fully subscribe for the number or amount of
Relevant Securities that such Shareholder is entitled to subscribe pursuant to
Section 3.2.1 hereof, the other Shareholders shall have the right to subscribe
any portion of the relevant securities not so subscribed. To the extent the
Shareholders do not elect to subscribe all of the Relevant Securities proposed
to be offered and sold in the New Issuance, the Company may issue those
securities not so subscribed for, provided that such sales are consummated
within 120 days after the Shareholders' rights hereunder have expired or been
waived.

            4. Corporate Governance.

                  4.1 General. Each Shareholder shall vote its Ordinary Shares
at Shareholder meetings or in any written consent executed in lieu of such a
Shareholder meeting, and shall take all other actions necessary to give effect
to all of the provisions of this Agreement, including without limitation voting
its Ordinary Shares to (i) amend the Articles of Association to

                                       5
<PAGE>

reflect all provisions of this Agreement, and the Subscription Agreement; (ii)
ensure that the Articles of Association do not at any time conflict in any
respect with the provisions of this Agreement or the Subscription Agreement, and
(iii) elect and remove any director nominated by a Shareholder pursuant to
Section 4.2 hereof.

                  4.2 Nomination of Directors

                        4.2.1 Number and Composition of the Board of Directors.
The number of directors constituting the entire Board of Directors upon
execution of this Agreement shall be five (5). The Board of Directors shall be
comprised of (i) two individuals nominated by iBEAM, one of whom shall initially
be [*], and one of whom shall initially be [*]; (ii) two individuals nominated
by SES, one of whom shall initially be [*], and one of whom shall initially be
[*]; and (iii) one individual elected by the holders of the Ordinary Shares on
the basis of a simple majority vote of all Ordinary Shares eligible to vote in
such an election. The Company shall include in any slate of directors that the
Company may propose or support for election by the Company's Shareholders, any
director designated by a Shareholder pursuant to this Section 4.2.

                        4.2.2 Removal and Replacement. Each Shareholder shall
respectively be entitled at any time and for any reason to designate any or all
of its nominees on the Board of Directors for removal. If at any time a vacancy
is created on the Board of Directors by reason of such a designation, or by the
death or resignation of any director, then each Shareholder shall, as soon as
practicable after the date such vacancy first occurs, and in any event prior to
the transaction of any other business by the Shareholders or the Board of
Directors, take action, including the voting of its Ordinary Shares, to remove
such director and to elect a successor director in accordance with Section
4.2.1.

                  4.3 Voting. Except to the extent provided under applicable law
or in Sections 4.4 or 4.5 hereof, authority for the management of the Company
and its business shall rest exclusively with the Board of Directors, which shall
act in all such matters by simple majority vote. The Chairman of the meeting of
the Board shall not have a casting vote. The quorum for board meetings, other
than those referred to in Sections 4.4 and 4.5 shall be at least one director
nominated by iBEAM and one nominated by SES.

                  4.4 Transactions with Shareholders. Directors that are
nominated or elected by a Shareholder in accordance with Section 4.2.1 hereof or
employed directly or indirectly by such Shareholder ("Interested Directors"),
shall not be entitled to vote on any proposed transaction, or amendment or
modification to any existing transaction, with such Shareholder, its Affiliates,
or any officers, directors or members of management of such Shareholder (an
"Interested Party Transaction"). The Board of Directors shall not cause the
Company to enter into any Interested Party Transaction without the approval of a
majority of the Directors that are not Interested Directors.

                  4.5 Certain Actions - Supermajority. Notwithstanding anything
to the contrary contained in this Agreement, the Board of Directors shall not
cause any of the following actions, except with the consent of at least four (4)
of the members of the Board of Directors:

----------
*     Confidential material redacted and filed separately with the Commission.

                                       6
<PAGE>

                        4.5.1 any transactions, or the amendment or modification
of any existing transactions, with any officers, directors or members of
management of the Company;

                        4.5.2 any amendment, modification or restatement of the
Articles of Association;

                        4.5.3 any change in the Territory;

                        4.5.4 any change in the Company's name or the name under
which it carries on business,

                        4.5.5 any sale, conveyance, lease, transfer or other
disposition of all or substantially all of the assets of the Company;

                        4.5.6 any modification in any rights attached to any
Ordinary Shares;

                        4.5.7 any composition or arrangement with creditors or
any action which would result in the Company's winding up, liquidation, or being
subject to receivership;

                        4.5.8 any merger, acquisition, consolidation,
amalgamation, recapitalization or other form of business combination;

                        4.5.9 any agreement to remunerate the Directors;

                        4.5.10 any material agreement with a Person whom a
Shareholder reasonably considers to be a competitor of such Shareholder;

                        4.5.11 any material modification of the Business Plan,
any financial expenditure not contemplated by the Business Plan, the entry into
any line of business other than those which are contemplated by the Business
Plan, or the failure to implement any line of business contemplated by the
Business Plan;

                        4.5.12 any dividend payments or other payment or
distribution on account of the Ordinary Shares or other share capital of the
Company;

                        4.5.13 other than in the ordinary course of business,
any sale, transfer, lease, assignment, or any agreement to sell, transfer,
lease, assign, or otherwise dispose of any material part of the Company's
property or assets (or any interest therein);

                        4.5.14 other than a Strategic Investment Issuance, any
issuance, redemption, repurchase, acquisition or agreement to issue, redeem,
repurchase or acquire, any Ordinary Shares or other share capital of the Company
or rights of any kind convertible into or exchangeable for Ordinary Shares or
other share capital of the Company, or any option, warrant or other subscription
or purchase right with respect to Ordinary Shares or other share capital of the
Company;

                        4.5.15 any use of any Shareholder's service marks,
trademarks, or other proprietary information in conjunction with operation of
the Company's business; or

                        4.5.16 any change in the Company's Standard Rate.

                                       7
<PAGE>

            5. After-Acquired Securities. All of the provisions of this
Agreement shall apply to all of the Ordinary Shares now owned or that may be
issued or transferred hereafter to a Shareholder in consequence of any
additional issuance, purchase, exchange or reclassification of any of the
Ordinary Shares (including without limitation, upon the exercise of any option
or warrant), corporate reorganization, or any other form of recapitalization,
consolidation, merger, share split or share dividend, or that are acquired by a
Shareholder in any other manner.

            6. Business Initiation Team.

                  6.1 Assignment of Employees. Within five (5) days of the date
of this Agreement, each of the Shareholders shall nominate, after consultation
with the other Shareholder, two employees of the nominating Shareholder,
reasonably acceptable to the other Shareholder (the "Start-up Team"). For a
period of sixty (60) days, the Start-up Team shall perform, inter alia, the
following tasks with respect to initiation of the Company's business:

                        6.1.1 create and deliver the Business Plan to the Board
of Directors within 60 days after the date of this Agreement;

                        6.1.2 hire the initial management team for the Company,
which team shall be given the authority to continue employing new staff to
initiate implementation of the Business Plan;

                        6.1.3 identify the top target customers of the Company
and initiate business contact with them; and

                        6.1.4 design the Company NOC, create an implementation
schedule for the Company NOC, design and create a rollout schedule for, the
Company Network, and deliver such design and schedule to the appropriate
operations managers of each of the Shareholders. The Company, upon approval of
the Board of Directors (which shall treat such matter as an Interested Party
Transaction), shall reimburse iBEAM and SES for their respective costs incurred
in connection with the establishment of the Company including the incorporation
of and initial organization thereof, up to a maximum of [*] per Shareholder.

            7. Confidentiality/Non Competition.

                  7.1 Proprietary Information. The Shareholders acknowledge that
the Company will develop its Proprietary Information and Intellectual Property
over a substantial period of time and at a substantial expense, and its
Proprietary Information and Intellectual Property will be integral to the
goodwill of the Company. Protection of the Proprietary Information and
Intellectual Property is necessary to the conduct of the Company's business, and
the Company is and shall at all times remain the sole owner of the Company's
Proprietary Information and Intellectual Property. As used herein, the term
"Proprietary Information" includes any scientific, technical, trade or business
secrets of the Company and any scientific, technical, trade or business
materials that the Company justifiably treats as confidential or proprietary,
including, but not limited to, inventions belonging to the Company and trade
secret information obtained by or given to the Company about or belonging to its
suppliers, licensors, licensees, partners, affiliates, customers, potential
customers or others.

----------
*     Confidential material redacted and filed separately with the Commission.

                                       8
<PAGE>

                  7.2 Confidentiality Obligations. The Shareholders shall at all
times maintain in confidence and not utilize the Proprietary Information or the
Intellectual Properly of the Company, and/or technology or proprietary
information of others received in confidence by the Company, except in
performing services for the Company. Maintaining such Proprietary Information
and Intellectual Property in confidence shall include refraining from disclosing
such Proprietary Information or-Intellectual Property to any third party (except
when duly and, specifically authorized in writing to do so for purpose of
furthering the business of the Company), and refraining from using such
Proprietary Information or Intellectual Property for the benefit of any other
Person. Each Shareholder agrees not to make any copies of the Proprietary
Information or Intellectual Property of the Company (except when appropriate for
the furtherance of the business of the Company or when duly and specifically
authorized to do so) and promptly upon request to return to the Company any and
all documentary, machine-readable or other elements of evidence of such
Proprietary Information, Intellectual Property, and any copies of either that
may be in such Shareholder's possession or under such Shareholder's control.

                  7.3 Breach. In the event of any breach by a Shareholder of any
of the provisions of this Section 7, the Company shall be entitled, in addition
to monetary damages and to any other remedies available to the Company under
this Agreement and at law, to equitable relief, including injunctive relief, and
to payment by the breaching Shareholder of all costs incurred by the Company in
enforcement against such Shareholder of the provisions of this Section 7,
including reasonable attorneys' fees. The Shareholders agree that neither this
Section 7 nor any other provision in this Agreement shall be deemed to grant to
the Company (i) any license, right, title or interest in any intellectual
property of iBEAM beyond that provided for in the iBEAM Technology License
Agreement, or (ii) any license, right, title or interest in any intellectual
property of SES beyond that provided for in the SES Services Agreement.

                  7.4 Non-competition. [*]

                  7.5 Employee Recruitment. Throughout the term of this
Agreement, each of the Parties hereby agree not to hire any current employee of
the other Party, or any person who was employed by the other Party within the
preceding the twelve months.

                  7.6 Severance. If any part of this Section 7 should be
determined by a court of competent jurisdiction to be unreasonable in duration,
geographic area, or scope, then this section is intended to and shall extend
only for such period of time, in such area and with respect to such activity as
is determined to be reasonable.

            8. Deed of Adherence. No Ordinary Shares shall be issued by the
Company and none of the Shareholders shall transfer any Ordinary Shares in the
Company without the allottee or transferee, as appropriate, first by deed (in
the form set out in Schedule III) or such other form as the Board may approve)
undertaking to adhere to and be bound by the provisions of this Agreement, to
the extent such allottee or transferee is not already a party hereto prior to
such allotment or transfer. On and with effect from such adherence, the adherent
shall be entitled to -enjoy the rights and benefits hereby conferred upon the
Shareholders.

----------
*     Confidential material redacted and filed separately with the Commission.

                                       9
<PAGE>

            9. Miscellaneous.

                  9.1 Notices. All notices or other communications required or
permitted hereunder shall be in writing and shall be delivered personally,
teltcopied or sent by certified, registered or express mail, postage prepaid.
Any such notice shall be deemed given when so delivered personally, telecopied
or sent by certified, registered or express mail or, if mailed, five days after
the date of deposit in the United States mail, as follows:

                  9.1.1 if to the Company, to:

                  iBEAM Europe Limited
                  c/o Gouldens Solicitors
                  10 Old Bailey
                  London EC4M 7NG
                  Attention: Hilary Winter, Esq.
                  Jerome Lussan, Esq.
                  Telecopier: 44-20-7583-6777

                  9.1.2 if to iBEAM, to:

                  iBEAM Broadcasting Corporation
                  645 Almanor Avenue, Suite 100
                  Sunnyvale, CA 94086
                  Attention: General Counsel
                  Telecopier: (408) 524-0567

                  9.1.3 if to SES, to:

                  Societe Europeenne des Satellites
                  L-6815 Chateau de Betzdorf
                  Luxembourg
                  Attention: Jacques Noppaney, Esq.
                  Telecopier: 352-710-725-291

                  with a copy to:

                  Phillip L. Spector, Esq.
                  Paul, Weiss, Rifkind, Wharton & Garrison
                  1615 L Street, NW Suite 1300
                  Washington, D.C. 20037
                  Telecopier: 202-223-7427

                  Any party may, by notice given in accordance with this Section
9.1, designate another address or person for receipt of notices hereunder.

                  9.2 Amendment and Waiver.

                        9.2.1 No failure or delay on the part of any party
hereto in exercising any right, power or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial

                                       10
<PAGE>

exercise of any such right, power or remedy preclude any other or further
exercise thereof or the exercise of any other right, power or remedy. The
remedies provided for herein are cumulative and are not exclusive of any
remedies that may be available to the parties hereto at law, in equity or
otherwise.

                  9.2.2 Any amendment, supplement or modification of or to any
provision of this Agreement, any waiver of any provision of this Agreement, and
any consent to any departure by any party from the terms of any provision of
this Agreement, shall be effective (i) only if it is made or given in writing
and signed by both Shareholders and (ii) only in the specific instance and for
the specific purpose for which made or given.

            9.3 Material Events. The following shall constitute Material Events
(each, a "Material Event") by a Shareholder with respect to this Agreement:

                        9.3.1 if a petition is presented or a proceeding is
commenced or an order is made or an effective resolution is passed for the
winding up, insolvency, administration, reorganization, reconstruction,
dissolution or bankruptcy of the Shareholder or for the appointment of a
liquidator, receiver, administrator, trustee or similar officer of the
Shareholder or of all or any part of its business or assets; if the Shareholder
stops or suspends payments to its creditors generally or is unable or admits its
inability to pay its debts as they fall due or seeks to enter into any
composition or other arrangement with its creditors or is declared or becomes
bankrupt or insolvent; or if a creditor takes possession of all or any part of
the business or assets of the Shareholder or any execution or other legal
process is enforced against the business or any substantial asset of the
Shareholder and such legal process is not discharged within sixty (60) days;

                        9.3.2 if the Shareholder ceases or threatens to cease to
carry on its business or any substantial part thereof, or changes, or threatens
to change, the nature or scope of its business, or if the Shareholder disposes
of, or threatens to dispose of, or any governmental or other authority
expropriates, or threatens to expropriate, all or any substantial part of the
Shareholder's business or assets or displaces or threatens to displace the
management of the Shareholder;

                        9.3.3 if the Shareholder is in material breach of its
obligations hereunder or under any of the Transaction Agreements and such
breach, if capable of remedy, has not been remedied at the expiry of thirty (30)
days following written notice to that effect having been served on the
Shareholder by the other Shareholder indicating the steps required to be taken
to remedy the failure; or

                        9.3.4 if at any time hereafter there is a change in the
ownership or control, direct or indirect, of shares carrying more than fifty
percent (50%) of the voting rights attached to the issued share capital of the
Shareholder, provided, however, that the initial public offering of the stock of
iBEAM and the conversion of iBEAM preferred stock to iBEAM common stock shall
not be deemed a change in the ownership or control of iBEAM for purposes of this
Agreement.

                  9.4 Transfer of Ordinary Shares Upon Material Event.

                        9.4.1 Upon the occurrence of any Material Event with
respect to a Shareholder (the "Affected Shareholder"), the other Shareholder
(the "Other Shareholder") shall have the right to deliver a notice of material
event ("Material Event Notice") to the Affected

                                       11
<PAGE>

Shareholder. If the Other Shareholder delivers such notice, the Other
Shareholder shall, without prejudice to its other rights and remedies, have the
right to purchase all, but not less than all, of the Affected Shareholder's
Ordinary Shares (the "Call Option") at any time during the period of six (6)
months from the date of the Material Event Notice (the "Option Period"). The
Call Option shall lapse if not exercised within the Option Period.

                        9.4.2 The Other Shareholder may exercise the call option
by serving written notice (an "Option Notice") on the Affected Shareholder of
the Other Shareholder's intent to exercise the Call Option. The Option Notice
shall be irrevocable by the Other Shareholder except with the written consent of
the Affected Shareholder. Upon service of an Option Notice, the Affected
Shareholder shall become bound to sell the Ordinary Shares specified therein at
the price and in accordance with the terms set forth in this Section 9.4.

                        9.4.3 The transfer price (the "Transfer Price") at which
such purchase shall take place shall be determined as follows: (i) by an
investment bank that is agreed to by each of the Shareholders, if the
Shareholders so agree within twenty (20) days of the date of the Option Notice,
or (ii) if the Shareholders are not able to so agree within such twenty (20)
days, then by taking the average of the price proposed by an
internationally-recognized investment bank selected by iBEAM and the price
proposed by an internationally-recognized investment bank selected by SES.
Completion of a transfer of Ordinary Shares pursuant to the exercise of a Call
Option shall take place no later than fourteen days after the date on which the
Transfer Price has been determined. Completion of such a transfer shall be
conditioned upon receipt of all necessary third-party and governmental consents
and approvals.

                  9.5 Termination.

                        9.5.1 This Agreement may be terminated by the mutual
written consent of the Parties.

                        9.5.2 Upon the occurrence of a Material Event under
Section 9.3.3, the Other Shareholder may terminate this Agreement upon written
notice to the Affected Shareholder.

                        9.5.3 If this Agreement is terminated (i) in accordance
with Section 9.5.1, or (ii) by SES in accordance with Section 9.5.2, the
Shareholders agree to negotiate in good faith a non-exclusive reseller agreement
which allows SES to continue reselling iBEAM's services.

                        9.5.4 If this Agreement is terminated (i) in accordance
with Section 9.5.1, or (ii) by iBEAM in accordance with Section 9.5.2, the
Shareholders agree to negotiate in good faith a non-exclusive reseller agreement
which allows iBEAM to continue reselling SES' services.

                  9.6 Specific Performance. The Parties hereto intend that each
of the Parties has the right to seek damages or specific performance in the
event that any other Party hereto fails to perform such party's obligations
hereunder. Therefore, if any party shall institute any action or proceeding to
enforce the provisions hereof, any Party against whom such action or proceeding
is brought hereby waives any claim or defense therein that the plaintiff Party
has an adequate remedy at law.

                  9.7 Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

                                       12
<PAGE>

                  9.8 Severability. If any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of
the remaining provisions hereof shall not be in any way impaired, unless the
provisions held invalid, illegal or unenforceable shall substantially impair the
benefits of the remaining provisions hereof.

                  9.9 Rights of Third Parties. Nothing contained in this
Agreement, express or implied, is intended to confer on any person other than
the parties hereto or their respective successors and assigns, any rights,
remedies, obligations or liabilities under or by reason of this Agreement.

                  9.10 Entire Agreement. This Agreement (together with the other
Transaction Documents) is intended by the parties to be a complete and exclusive
statement of the agreement and understanding of the parties hereto in respect of
the subject matter contained herein. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein.
This Agreement supersedes all prior agreements and understandings between the
parties with respect to the same subject matter, including, but not limited to
the MOU.

                  9.11 Term of Agreement. This Agreement shall become effective
upon the execution hereof and shall terminate on the IPO Effectiveness Date.

                  9.12 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of England.

                  9.13 Consent to Jurisdiction. In the event of any dispute or
controversy arising out of or relating to this Agreement, the parties shall
first attempt in good faith amicably to resolve such dispute or controversy. If
such attempt fails to resolve the dispute or controversy within thirty (30) days
of any written request from one of the parties to try in good faith to resolve
the dispute amicably, the dispute shall, be settled by arbitration in London or
any other place agreeable by the Parties involved in such dispute, in accordance
with the UNCITRAL Arbitration Rules, and shall be conducted in the English
language. The number of arbitrators shall be 3. The award rendered by the
arbitrators shall be final and binding upon the parties concerned.

                  9.14 Further Assurances. Each of the parties shall, and shall
cause their respective Affiliates to, execute such instruments and take such
action as may be reasonably required or desirable to carry out the provisions
hereof and the transactions contemplated hereby.

                  9.15 Successors and Assigns. This Agreement shall be binding
upon and inure to the benefit of the parties and their respective permitted
successors and assigns. This Agreement is not assignable except to an Affiliate
or in connection with a permitted transfer of Ordinary Shares in accordance with
this Agreement.

                 (Balance of this page intentionally left blank)

                                       13
<PAGE>

                  9.16 Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall be deemed an original, and all of which
taken together shall constitute one and the same instrument.

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

                                    iBEAM EUROPE LIMITED

                                    By:_________________________________________
                                    Name:
                                    Title:

                                    iBEAM BROADCASTING CORPORATION

                                    By:_________________________________________
                                    Name: Peter Desnoco
                                    Title:   President and CEO

                                    SOCIETE EUROPEENNE DES SATELLITES, S.A.

                                    By:_________________________________________
                                    Name:
                                    Title:

                                    By:_________________________________________
                                    Name:
                                    Title:

                                       14
<PAGE>

                                   SCHEDULE I

                            Dated as of June 30, 2000

                                     ORDINARY SHARES

<TABLE>
<CAPTION>
                             Ordinary      Ordinary         Ordinary
                           Shares owned  Shares to be       Shares to         TOTAL
                             as of the    acquired at      be acquired       ORDINARY
       Subscriber          date hereof  First Closing  at Second Closing      SHARES
       ----------          -----------  -------------  -----------------      ------
<S>                              <C>        <C>              <C>             <C>
IBEAM Broadcasting               1          100,000            899,999       1,000,000
Corporation

Societe Europeenne des           0          100,000            400,000         500,000
Satellites, S.A.

Total Ordinary Shares            1          200,000          1,299,999       1,500,000
</TABLE>
<PAGE>

                                   SCHEDULE II

            iBEAM Europe Territory:

            Germany
            France
            U.K.
            Italy
            Austria
            Belgium
            Croatia
            Czech Republic
            Denmark
            Finland
            Hungary
            Ireland (Rep.)
            Luxembourg
            Netherlands
            Norway
            Poland
            Portugal
            Slovak Rep.
            Slovenia
            Spain
            Sweden
            Switzerland
            Ukraine
<PAGE>

                                  SCHEDULE III

THIS DEED is made on [________] BY [___________] ("the new shareholder") in
favour of iBEAM EUROPE, LIMITED, a company incorporated in England with
registered number [____] (the "Company") and THE PERSONS whose names and
addresses are set out in the Schedule hereto ("the Shareholders") and is
supplemental to an Agreement dated June 30, 2000 ("the Shareholders' Agreement")
made between the Company and the Shareholders therein mentioned.

WHEREAS the new Shareholder proposes to [purchase] [subscribe] for
[______________] shares of [______] each of the Company and it is a precondition
to such [purchase] [subscription] that he enter into this Deed.

NOW THIS DEED WITNESSETH as follows:

1. The new Shareholder hereby adheres as a Shareholder to the Shareholders'
Agreement and undertakes and covenants with the company and the Shareholders to
perform and observe all of the obligations on his part as a Shareholder under
the Shareholders' Agreement as if he had been a party to the Shareholders'
Agreement with effect on and from [-----------].

2. This Deed shall be governed by and construed in accordance with English law.

IN WITNESS WHEREOF, this Deed has been duly executed by the new Shareholder as a
Deed on the date first above mentioned.

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