Document:

AMENDMENT
                                       TO
                    SECURITIES PURCHASE AGREEMENT, WARRANTS,
                          REGISTRATION RIGHTS AGREEMENT
                                       AND
           8% CONVERTIBLE DEBENTURE SERIES 04-02 DUE DECEMBER 16, 2005

      THIS AMENDMENT TO SECURITIES PURCHASE AGREEMENT,  8% CONVERTIBLE DEBENTURE
SERIES 04-02 DUE DECEMBER 16, 2005,  CLASS A, B AND C WARRANTS AND  REGISTRATION
RIGHTS  AGREEMENT  is  made by and  between  Infinium  Labs,  Inc.,  a  Delaware
corporation  ("Company"),  the  Investors  named on the  signature  page  hereof
(collectively  the "Investors" and each  individually an "Investor") and Timothy
M. Roberts ("Guarantor") and is dated as of December __, 2004 ("Amendment").

      WHEREAS,  Investors and the Company  entered into that certain  Securities
Purchase  Agreement,  dated  as of  December  13,  2004  ("Purchase  Agreement";
capitalized  terms not otherwise defined herein shall have the meanings ascribed
to them in the Purchase  Agreement)  pursuant to which,  among other things, the
Company issued the Debentures and the Warrants to the Investors, and the Company
and the Investors entered into the Registration Rights Agreement;

      WHEREAS,  the Company is currently in discussions with investors regarding
a transaction (or series of related transactions;  collectively,  the "Qualified
Financing")  after the date hereof in which (i) the Company shall issue and sell
shares of its capital stock (but not any debt or other payment  obligations)  in
exchange for aggregate  gross  proceeds of at least $30 million,  (ii) the first
tranche of such  financing  (the  "Qualified  Financing  First  Tranche")  shall
consist of no less than $12  million and (iii)  pursuant  to which all  existing
debt of the  Company  (other than the debt being  issued  pursuant to either the
Purchase Agreement or the Specified Permitted Transaction,  defined below) shall
be converted  into equity of the Company or otherwise  retired within 10 Trading
Days of the funding of the Qualified  Financing First Tranche (the date on which
all such debt is so  converted  or  otherwise  retired,  the  "Debt  Elimination
Date"); and

      WHEREAS, in connection therewith,  the Company and the Investors desire to
amend certain terms of the Transaction Agreements;

      NOW,  THEREFORE,  for good and  valuable  consideration,  the  receipt and
sufficiency  of which the  parties  hereby  acknowledge,  the  parties  agree as
follows:

      1.    Amendment to Purchase Agreement.

      (i)   Notwithstanding  anything to the contrary in the Purchase  Agreement
or the other  Transaction  Agreements,  a Qualified  Financing in which the Debt
Elimination Date occurs within six (6) months from the Closing Date shall not be
deemed a Lower Price Transaction.

                                       1

Company: _____
Investor: _____

<PAGE>

      (ii)  The term  "Securities"  is amended to include the Issued Shares,  as
hereinafter defined.

      (iii) The term  "Shares" is amended to include the shares of Common  Stock
representing the Issued Shares.

      (iv)  The  term  "Transaction  Agreements"  is  amended  to  include  this
Amendment in the list of documents and agreements.

      2.    Amendment  of Class A Warrants:  The  exercise  price of the Class A
Warrants  is hereby  amended  to at all times be $0.10  per  share  (subject  to
adjustment  from time to time as provided in Sections  6.1,  6.2 and 6.3 of such
Warrant).

      3.    Additional Shares:

      (i)   The Company shall issue to each Investor shares ("Issued Shares") of
the Company's  Common Stock equal to (x) 250,000 shares,  multiplied by (y) such
Investor's Lender's Allocable Share, as set forth in Schedule A hereto.

      (ii)  The Company will deliver to the Escrow Agent certificates, issued by
the Transfer  Agent in the name of the Investor,  representing  such  Investor's
Issued  Shares  within 10 Trading  Days of the  execution  and  delivery of this
Amendment.

      4.    Amendment to Debenture. The Debenture is hereby amended as follows:

      (i)   The defined  term  "Conversion  Price" as  contained in the Purchase
Agreement  and  Section  4(A)(ii)  of the  Debenture  is hereby  restated in its
entirety as follows:

            (ii) "The term "Conversion Price" means  seventy-five  percent (75%;
            the "Current  Percentage")  of the lowest  Closing  Price during the
            five (5) Trading Days ending on the Trading Day  immediately  before
            the Conversion Date;  provided,  however,  that in no event will the
            Conversion  Price be (x) more than  $0.10 (the  "Maximum  Conversion
            Price")  or (y) until the  earlier of (I) the  Scheduled  Expiration
            Date (as defined  below),  (II) the date after the  Closing  Date on
            which the  company  files a  registration  statement  on Form S-8 or
            (III)  the date on  which  the  Company  first  issues  a  Mandatory
            Conversion Notice (as defined below), lower than $0.10 (the "Minimum
            Conversion Price") (as each such amount may be adjusted from time to
            time  as  provided  herein);  provided,  however,  if the  Qualified
            Financing  First Tranche (as defined below) is consummated  prior to
            the  Scheduled  Expiration  Date and the Debt  Elimination  Date (as
            defined  below)  occurs  before  any of  the  dates  referred  to in
            subclauses (I), (II) or (III) of clause (y) of this paragraph, then,
            notwithstanding   anything  in  the  foregoing  provisions  of  this
            paragraph to the contrary,  the Conversion Price shall thereafter be
            $0.10  (subject  to  adjustment  from  time to time as  provided  in
            Section 2).

                                       2

Company: _____
Investor: _____

<PAGE>

      (ii)  The following provisions are added following Section 4(A)(iii):

            (iv) The term "Qualified Financing" means a transaction or series of
            related  transactions entered into after the Issue Date in which all
            of the following  conditions  are  satisfied:  (i) the Company shall
            issue and sell  shares  of its  capital  stock  (but not any debt or
            other payment  obligations) in exchange for aggregate gross proceeds
            (before  ordinary  commissions,  fees and  expenses) of at least $30
            million,  (ii) the first tranche of such financing  (the  "Qualified
            Financing  First Tranche") shall consist of no less than $12 million
            and (iii) in connection with or contemporaneous  with the funding of
            the  Qualified  Financing  First  Tranche,  all existing debt of the
            Company  (other  than the debt being  issued  pursuant to either the
            Securities   Purchase   Agreement   or   the   Specified   Permitted
            Transaction,  defined in the  Amendment,  dated as of December  ___,
            2004, to the Securities  Purchase Agreement to which the Company and
            the Holder or the  Holder's  predecessor  in interest  are  parties)
            shall be converted  into equity of the Company or otherwise  retired
            within 10 Trading  Days of the  funding of the  Qualified  Financing
            First  Tranche  (the date on which all such debt is so  converted or
            otherwise retired, the "Debt Elimination Date").

            (v) The term  "Scheduled  Expiration  Date"  means  April 16,  2005,
            except that,  if prior  thereto the Company has filed with the SEC a
            definitive  proxy statement (and such proxy statement is sent to the
            Company's  shareholders  within 10 Trading Days after such  filing),
            which  proxy  statement,   among  other  things,  seeks  shareholder
            authorization  at a meeting of shareholders  scheduled to be held no
            later  than June 16,  2005 to amend  the  Company's  certificate  of
            incorporation to increase the authorized shares of the Company to at
            least 400 million shares, it means June 16, 2005.

                                       3

Company: _____
Investor: _____

<PAGE>

      5.    Amendment to Registration Rights Agreement.  The Registration Rights
Agreement is amended as follows:

      (i)   Schedule 1 to the  Registration  Rights Agreement is amended to read
in its entirety as follows:

            (a) All Registrable Shares  contemplated by the Registration  Rights
            Agreement,  dated as of December 13, 2004, as amended (the "Existing
            Registration Rights Agreement"), between the Company and the Initial
            Investors named therein (the "Original Investors")

            (b) The shares  referred to in clause (2) of Section  2(a)(i) of the
            Existing Registration Rights Agreement, whether issued to the Finder
            contemplated thereby or to such Finder's designees.

            (c) The  shares  listed  in  item A of  Schedule  1 to the  Existing
            Registration Rights Agreement.

            (d) Any shares issuable on exercise of warrants issued to the Finder
            or its  designees,  to the Escrow  Agent or its  designees  or to SG
            Capital  or  its  designees  in  connection  with  the  transactions
            consummated  (x) on December 16, 2004,  as amended,  (y) on December
            ___, 2004 or (z) in connection with the transactions contemplated by
            the Transaction Agreements, as amended.

      (ii)  The term  "Registrable  Securities" is amended to include the Issued
      Shares.

      (iii) Each of the terms "Initial  Number of Shares to Be  Registered"  and
      "Increased  Number of Shares to Be  Registered"  is amended to be equal to
      the sum of (x) the shares determined by the terms of such definition as in
      effect on the Closing Date, plus (y) the Issued Shares.

      (iv)  For purposes of determining the Held Shares Value, a Holder shall be
      deemed to have sold Issued Shares before selling any Conversion Shares.

      6.    Consent to Specific Convertible Debenture Transaction.

      (i)   The Company has advised the Investors that the Company,  through the
      placement  services  of  the  Finder,  proposes  to  entered  into  a  new
      transaction  on or about  December  __,  2004  (the  "Specified  Permitted
      Transaction"),  on terms similar to the  transactions  contemplated by the
      Transaction  Documents,  as amended  by this  Amendment,  except  that the
      Specified  Permitted  Transaction  (i) is for a Total  Purchase  Price  of
      $1,000,000,  (ii) provides for a Conversion  Price equal to the Conversion

                                       4

Company: _____
Investor: _____

<PAGE>

      Price in the  Debentures,  as amended by this  Amendment,  and an exercise
      price  for the  Class A  Warrants  of $.10  (each of which is  subject  to
      adjustment on terms similar to the adjustments in the relevant Transaction
      Agreements), (iii) does not provide for Class B and Class C warrants, (iv)
      will not  include a  provision  similar  to Section  4(h) of the  Purchase
      Agreement,  and (v)  provides  for  500,000  shares of Common  Stock to be
      issued to the investors in the Specified Permitted Transaction.

      (ii)  In  connection  with  the  Specified  Permitted  Transaction,   each
      Investor hereby consents that

            (a) the Specified  Permitted  Transaction will be deemed a Permitted
            Transaction for purposes of part B of Schedule 1 of the Registration
            Rights Agreement; and

            (b) the Specified Permitted  Transaction is not deemed a Lower Price
            Transaction.

      (iii) Each  Investor  consents  that shares  issuable upon the exercise of
      warrants  issued to the Finder or its  designees or to the Escrow Agent or
      its  designees,  in  each  case  whether  such  warrants  were  issued  in
      connection with the  transactions  consummated on the Closing Date or with
      respect to the  Specified  Permitted  Transaction,  may be included in the
      Registration Statement.

      (iv)  The  Company  agrees  that,  other  than  the  Specified   Permitted
      Transaction, no transaction shall qualify as a Permitted Transaction.

      (v)   Each  Investor's  consent  provided  hereby is  limited to the terms
      specified above in this Section 6.

      7.    Effective Date.

      (i)   Each of the Company and each Investor shall deliver an executed copy
      of this Amendment to the Escrow Agent.

      (ii)  This  Amendment  shall be effective as to each  Investor on the date
      that it is so executed and delivered by the Investor and by the Company.

      (iii) The  provisions  of  Section  11  of  the  Purchase   Agreement  are
      incorporated herein by reference.

                                       5

Company: _____
Investor: _____

<PAGE>

      (iv)  The  Company  hereby  confirms  to  each  Investor  that,  as of the
      effective date of this Amendment, the representations made in Section 3 of
      the Purchase Agreement shall apply also to the Issued Shares.

      (v)   Upon  execution  and  delivery of this  Amendment,  the Company will
      deliver  to the  Escrow  Agent an  opinion  of  counsel  addressed  to the
      Investors  modifying  the opinion  delivered  on the  Closing  Date to the
      effect that,  as of such date,  (i) this  Amendment is deemed to be one of
      the  Transaction  Agreements and the opinions  relating to the Transaction
      Agreements  apply  thereto and (ii) upon  issuance of the Issued Shares in
      accordance  with the terms of the  Amendment,  the Issued  Shares  will be
      validly issued,  fully paid and  non-assessable,  and free from all taxes,
      liens and charges with respect to the issue thereof.

      8.    Limited Effect.  Except as specified above, all terms of Transaction
Agreements remain in full force and effect.

                   [Balance of page intentionally left blank]

                                       6

Company: _____
Investor: _____

<PAGE>

      IN WITNESS  WHEREOF,  the parties  have caused this  Amendment  to be duly
executed by their  respective  officers  thereunto duly authorized as of the day
and year first above written.

      COMPANY:

      INFINIUM LABS, INC.

      By:________________________________
         Timothy M. Roberts
         Chief Executive Officer

INVESTORS:

See attached Investors Signature Page

                           Guarantor's Acknowledgment

The undersigned,  the Guarantor referred to in the Debenture,  acknowledges that
the Personal  Guarantee issued by the Guarantor to each Investor remains in full
effect with respect to the Debenture, as modified by the above Amendment.

_______________________________
TIMOTHY M. ROBERTS

<PAGE>

                           SCHEDULE A - ISSUED SHARES

Investor                                         Issued Shares

ZENNY TRADING LIMITED
ZEVI WOLMARK
JACOB FRIEDMAN
JM INVESTORS, LLC
DAVID ZAJAC
VISCOUNT INVESTMENTS, LTD.
MORE INTL INVESTMENTS, INC.
YESHIVA GEDOLAH OF SEAGATE
LIBERTY SUPPLIES CORP.
SHALOM TORAH CENTERS
SOLOMON LESIN
SHIMON HABER
WEST HASTINGS LIMITED
HEZA HOLDINGS INC.
LONGVIEW SPECIAL FINANCE, INC.
------------------------------                   -------
TOTAL:                                           250,000

<PAGE>

                            INVESTORS SIGNATURE PAGE

                                    INVESTORS

ZENNY TRADING LIMITED                            YESHIVA GEDOLAH OF SEAGATE

By:____________________                          By:____________________

ZEVI WOLMARK                                     LIBERTY SUPPLIES CORP.

By:____________________                          By:____________________

JACOB FRIEDMAN                                   SHALOM TORAH CENTERS

By:____________________                          By:____________________

JM INVESTORS, LLC                                SOLOMON LESIN

By:____________________                          By:____________________

DAVID ZAJAC                                      SHIMON HABER

By:____________________                          By:____________________

VISCOUNT INVESTMENTS, LTD.                       WEST HASTINGS LIMITED

By:____________________                          By:____________________

MORE INTL INVESTMENTS, INC.                      HEZA HOLDINGS INC.

By:____________________                          By: ____________________

LONGVIEW SPECIAL FINANCE, INC.

By:____________________AMENDMENT
                                       TO
                    SECURITIES PURCHASE AGREEMENT, WARRANTS,
                          REGISTRATION RIGHTS AGREEMENT
                                       AND
           8% CONVERTIBLE DEBENTURE SERIES 04-03 DUE DECEMBER __, 2005

THIS AMENDMENT TO SECURITIES PURCHASE AGREEMENT, 8% CONVERTIBLE DEBENTURE SERIES
04-03 DUE DECEMBER __, 2005,  WARRANTS AND REGISTRATION RIGHTS AGREEMENT is made
by and between  Infinium Labs,  Inc., a Delaware  corporation  ("Company"),  the
Investors  listed on Schedule A hereto  (collectively  the  "Investors" and each
individually an "Investor") and Timothy M. Roberts ("Guarantor") and is dated as
of December __, 2004 ("Amendment").

      WHEREAS,  the Company is currently in discussions with investors regarding
a transaction (or series of related transactions;  collectively,  the "Qualified
Financing")  after the date hereof in which (i) the Company shall issue and sell
shares of its capital stock (but not any debt or other payment  obligations)  in
exchange for aggregate  gross  proceeds of at least $30 million,  (ii) the first
tranche of such  financing  (the  "Qualified  Financing  First  Tranche")  shall
consist of no less than $12  million and (iii)  pursuant  to which all  existing
debt of the  Company  (other than the debt being  issued  pursuant to either the
Purchase Agreement or the Securities  Purchase  Agreement,  dated as of December
13, 2004, as amended,  between the Company and the Lenders named  therein) shall
be converted  into equity of the Company or otherwise  retired within 10 Trading
Days of the funding of the Qualified  Financing First Tranche (the date on which
all such debt is so  converted  or  otherwise  retired,  the  "Debt  Elimination
Date"); and

      WHEREAS,  the parties  desire to amend  certain  terms of the  Transaction
Agreements;

      NOW,  THEREFORE,  for good and  valuable  consideration,  the  receipt and
sufficiency  of which the  parties  hereby  acknowledge,  the  parties  agree as
follows:

            1.    Amendment to Purchase Agreement.

            (i)   Notwithstanding  anything  to the  contrary  in  the  Purchase
Agreement or the other Transaction  Agreements,  a Qualified  Financing in which
the Debt  Elimination  Date occurs  within six (6) months from the Closing  Date
shall not be deemed a Lower Price Transaction.

            (ii)  Additionally, the principal amount of Debentures sold pursuant
to the Purchase  Agreement  shall be fixed at $1,000,000 and the funds deposited
in escrow by the Investors at the Closing under the Purchase  Agreement shall be
released on the first  Business Day after  delivery to the Escrow Agent of proof
of filing  with the  Securities  and  Exchange  Commission  of the  registration
statement  on  Form  SB-2  as  required  pursuant  to  the  Registration  Rights
Agreement.

            (iii) The term "Securities" is amended to include the Issued Shares,
as hereinafter defined.

<PAGE>

            (iv)  The term  "Shares"  is amended to include the shares of Common
Stock representing the Issued Shares.

            (v)   The term  "Transaction  Agreements" is amended to include this
Amendment in the list of documents and agreements.

            2.    Amendment of Warrants:  The exercise  price of the Warrants is
hereby  amended to at all times be $0.10 per share  (subject to adjustment  from
time to time as provided in Sections 6.1, 6.2 and 6.3 of such Warrant).

            3.    Additional Shares.

            (i)   The  Company  shall  issue to each  Investor  shares  ("Issued
Shares") of the Company's  Common Stock equal to (x) 500,000 shares,  multiplied
by (y) such  Investor's  Lender's  Allocable  Share,  as set forth in Schedule A
hereto.

            (ii)  The Company  will  deliver to the Escrow  Agent  certificates,
issued by the  Transfer  Agent in the name of the  Investor,  representing  such
Investor's Issued Shares within 10 Trading Days of the execution and delivery of
this Amendment.

            4.    Amendment to Debenture and Purchase Agreement.

            (i)   The  defined  term  "Conversion  Price"  as  contained  in the
Purchase  Agreement and Section  4.A.(ii) of the Debenture is hereby restated in
its entirety as follows:

                  (ii) "The term "Conversion Price" means  seventy-five  percent
                  (75%;  the "Current  Percentage")  of the lowest Closing Price
                  during the five (5)  Trading  Days  ending on the  Trading Day
                  immediately  before the Conversion  Date;  provided,  however,
                  that in no event  will the  Conversion  Price be (x) more than
                  $0.10  (the  "Maximum  Conversion  Price")  or (y)  until  the
                  earlier  of (I) the  Scheduled  Expiration  Date  (as  defined
                  below),  (II) the date  after  the  Closing  Date on which the
                  company  files a  registration  statement on Form S-8 or (III)
                  the  date on  which  the  Company  first  issues  a  Mandatory
                  Conversion  Notice (as defined  below),  lower than $0.10 (the
                  "Minimum  Conversion  Price")  (as  each  such  amount  may be
                  adjusted  from  time to time as  provided  herein);  provided,
                  however,  if the Qualified Financing First Tranche (as defined
                  below) is consummated  prior to the Scheduled  Expiration Date
                  and the Debt Elimination Date (as defined below) occurs before
                  any of the dates referred to in subclauses  (I), (II) or (III)
                  of  clause  (y)  of  this  paragraph,   then,  notwithstanding
                  anything in the foregoing  provisions of this paragraph to the
                  contrary,  the  Conversion  Price  shall  thereafter  be $0.10
                  (subject  to  adjustment  from  time to time  as  provided  in
                  Section 2).

                                       2

Company: _____
Investor: _____

<PAGE>

            (ii)  The  following   provisions   are  added   following   Section
4(A)(iii):

                  (iv) The term  "Qualified  Financing"  means a transaction  or
                  series of related  transactions  entered  into after the Issue
                  Date in which all of the following  conditions  are satisfied:
                  (i) the  Company  shall  issue and sell  shares of its capital
                  stock  (but  not any  debt or other  payment  obligations)  in
                  exchange  for  aggregate  gross  proceeds   (before   ordinary
                  commissions,  fees and expenses) of at least $30 million, (ii)
                  the first tranche of such financing (the "Qualified  Financing
                  First  Tranche") shall consist of no less than $12 million and
                  (iii) in connection with or  contemporaneous  with the funding
                  of the Qualified Financing First Tranche, all existing debt of
                  the  Company  (other  than the debt being  issued  pursuant to
                  either the  Securities  Purchase  Agreement or the  Securities
                  Purchase Agreement, dated as of December 13, 2004, as amended,
                  between the Company and the Lenders  named  therein)  shall be
                  converted  into  equity of the  Company or  otherwise  retired
                  within  10  Trading  Days  of the  funding  of  the  Qualified
                  Financing First Tranche (the date on which all such debt is so
                  converted or otherwise retired, the "Debt Elimination Date").

                  (v) The term "Scheduled Expiration Date" means April 16, 2005,
                  except that,  if prior  thereto the Company has filed with the
                  SEC a definitive  proxy statement (and such proxy statement is
                  sent to the  Company's  shareholders  within 10  Trading  Days
                  after such filing), which proxy statement, among other things,
                  seeks  shareholder  authorization at a meeting of shareholders
                  scheduled  to be held no later than June 16, 2005 to amend the
                  Company's   certificate  of   incorporation  to  increase  the
                  authorized  shares  of the  Company  to at least  400  million
                  shares, it means June 16, 2005.

            5.    Amendment to Registration Rights Agreement.

            (i)   Schedule 1 to the Registration  Rights Agreement is amended to
read in its entirety as follows:

                  1.    All Registrable Shares  contemplated by the Registration
                  Rights  Agreement,  dated as of December 13, 2004,  as amended
                  (the "Existing  Registration Rights  Agreement"),  between the
                  Company and the Initial Investors named therein (the "Original
                  Investors").

                  2.    The shares  referred to in clause (2) of Section 2(a)(i)
                  of the Existing Registration Rights Agreement,  whether issued
                  to  the  Finder  contemplated  thereby  or  to  such  Finder's
                  designees.

                                       3

Company: _____
Investor: _____

<PAGE>

                  3.    The  shares  listed  in  item  A of  Schedule  1 to  the
                  Existing Registration Rights Agreement.

                  4.    Any shares  issuable on  exercise of warrants  issued to
                  the  Finder  or its  designees,  to the  Escrow  Agent  or its
                  designees or to SG Capital or its designees in connection with
                  the  transactions  consummated  (x) on December 16,  2004,  as
                  amended,   or  (y)  in   connection   with  the   transactions
                  contemplated by the Transaction Agreements, as amended.

            (ii)  The term  "Registrable  Securities"  is amended to include the
Issued Shares.

            (iii) Each of the terms "Initial  Number of Shares to Be Registered"
and "Increased  Number of Shares to Be Registered" is amended to be equal to the
sum of (x) the shares determined by the terms of such definition as in effect on
the Closing Date, plus (y) the Issued Shares.

            (iv)  For purposes of  determining  the Held Shares Value,  a Holder
shall be deemed to have sold Issued Shares before selling any Conversion Shares.

            6.    Reserved.

            7.    Effective Date.

            (i)   Each  of the  Company  and  each  Investor  shall  deliver  an
executed copy of this Amendment to the Escrow Agent.

            (ii)  This  Amendment  shall be effective as to each Investor on the
date that it is so executed and delivered by the Investor and by the Company.

            (iii) The  provisions  of Section 11 of the Purchase  Agreement  are
incorporated herein by reference.

            (iv)  The Company  hereby  confirms to each Investor that, as of the
effective date of this Amendment,  the representations  made in Section 3 of the
Purchase Agreement shall apply also to the Issued Shares.

            (v)   Upon  execution  and delivery of this  Amendment,  the Company
will  deliver  to the  Escrow  Agent an  opinion  of  counsel  addressed  to the
Investors  modifying  the opinion  delivered  on the Closing  Date to the effect
that, as of such date, (i) this Amendment is deemed to be one of the Transaction
Agreements and the opinions relating to the Transaction Agreements apply thereto
and (ii) upon issuance of the Issued Shares in accordance  with the terms of the
Amendment,   the  Issued  Shares  will  be  validly   issued,   fully  paid  and
non-assessable,  and free from all taxes,  liens and charges with respect to the
issue thereof.

            8.    Limited  Effect.  Except  as  specified  above,  all  terms of
Transaction Agreements remain in full force and effect.

                                      * * *

                                       4

Company: _____
Investor: _____

<PAGE>

      IN WITNESS  WHEREOF,  the parties  have caused this  Amendment  to be duly
executed by their  respective  officers  thereunto duly authorized as of the day
and year first above written.

INFINIUM LABS, INC.

By:__________________________
   Timothy M. Roberts
   Chief Executive Officer

Date:________________________

[NAME OF INVESTOR]

_____________________________

Date:________________________

Address:_____________________

_____________________________

_____________________________

Guarantor's Acknowledgment

The undersigned,  the Guarantor referred to in the Debenture,  acknowledges that
the Personal  Guarantee issued by the Guarantor to each Investor remains in full
effect with respect to the Debenture, as modified by the above Amendment.

_____________________________
TIMOTHY M. ROBERTS

<PAGE>

                                    SCHEDULE A

                                            PRINCIPAL                    ISSUED
INVESTOR                                 AMOUNT OF NOTE   WARRANTS      SHARES
-------------------------------------    -------------    ---------    ---------
Hazinu Limited                           $  225,000.00    1,054,685      112,500
BL Cubed LLC                                112,500.00      527,342       56,250
Longview Special Finance Inc.               187,500.00      878,904       93,750
Congregation Mishkan Sholom                  75,000.00      351,562       37,500
JM Investors LLC                             18,750.00       87,890        9,375
Jacob Friedman                               13,750.00       64,453        6,875
Shalom Torah Centers                         13,750.00       64,453        6,875
Shlomo Lesin                                 13,750.00       64,453        6,875
Fenmore Holdings LLC                        187,500.00      878,904       93,750
West Hastings Limited                        32,500.00      152,343       16,250
David Zajac                                  11,250.00       52,733        5,625
Zevi Wolmark                                 18,750.00       87,890        9,375
Liberty Supplies Corp.                       75,000.00      351,562       37,500
Heza Holdings, Inc.                          15,000.00       70,311        7,500
-------------------------------------    -------------    ---------    ---------
Total:                                   $1,000,000.00    4,687,485      500,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]