Document:

Prepared by MERRILL CORPORATION www.edgaradvantage.com

QuickLinks
 -- Click here to rapidly navigate through this document
  

Exhibit 10.9  

 
 

ESCROW AGREEMENT    
  

    This Escrow Agreement, dated as of            , 2001, is entered into by and among GlobalMedia.com, a Nevada corporation ("GlobalMedia"),
SurferNetwork.com, Inc., a Delaware corporation ("SurferNetwork"), and U.S. Bank Trust National Association, a national banking association, as escrow agent ("Escrow Agent"). 

    This
is the Escrow Agreement referred to in the Asset Purchase Agreement between GlobalMedia and GlobalMedia (the "Purchase Agreement") dated as of February 2, 2001 (the
"Closing Date"). 

    The
parties, intending to be legally bound, hereby agree as follows: 

1.  ESTABLISHMENT OF ESCROW  

    (a) SurferNetwork is registering in the name of GlobalMedia and depositing with Escrow Agent a certificate representing record ownership of Two Hundred Fifty
Thousand (250,000) shares of SurferNetwork's common stock and will deposit additional shares of SurferNetwork's common stock to the extent required pursuant to Sections 1.05(b) and 5.05(a) of the
Purchase Agreement (collectively, the "SN Shares"), which SN Shares shall be deemed to have a value per share equal to the Stock Value (as defined in Section 1(e) below), and Escrow Agent
acknowledges receipt thereof. Such SN Shares (the "Escrow Shares"), or any cash or other stock substituted therefor pursuant to Section 1(c) below, as reduced by any disbursements therefrom or
permitted distributions thereof, and any other assets received by Escrow Agent shall hereinafter be referred to as the "Escrow Fund." 

    (b)
Escrow Agent hereby agrees to act as escrow agent and to hold, safeguard and disburse the Escrow Fund pursuant to the terms and conditions hereof. 

    (c)
In the event SurferNetwork enters into a transaction pursuant to which SurferNetwork's common stock is exchanged for stock in another entity and/or for cash, Escrow Agent shall
surrender the certificate(s) representing record ownership of the Escrow Shares to SurferNetwork and SurferNetwork shall, as applicable, (i) deposit with the Escrow Agent the cash received in
exchange therefor pursuant to the terms of such transaction and (ii) register in the name of GlobalMedia and deposit with Escrow Agent one or more certificates representing record ownership of
the stock received in exchange therefor pursuant to the terms of such transaction. Any stock substituted for Escrow Shares pursuant to this Section 1(c) shall thereafter be considered Escrow
Shares for all purposes of this Agreement. 

    (d)
The parties hereto further agree that GlobalMedia may deliver to Escrow Agent for deposit in the Escrow Fund an amount in cash or same day funds equal to the total value of the
Escrow Shares, which amount shall be determined based on the Stock Value of such Escrow Shares. In such event, Escrow Agent shall immediately distribute to GlobalMedia the certificate or certificates
representing record ownership of the Escrow Shares. 

    (e)
For purposes of this Agreement, with respect to SN Shares the term "Stock Value" shall mean US$1.25 per share. In the event the SN Shares held in the Escrow Fund are exchanged for
stock in another entity pursuant to Section 1(c) above, the Stock Value of each share of stock received in such exchange shall equal the aggregate Stock Value of the shares of SN Stock held in
the Escrow Fund immediately prior to such conversion or exchange divided by the number of shares of stock deposited with Escrow Agent pursuant to such conversion or exchange. 

    (f)
GlobalMedia hereby appoints Escrow Agent as its attorney in fact for the sole purpose of conveying the Escrow Shares to SurferNetwork if and when such conveyance is required
pursuant to the terms hereof or to Escrow Agent pursuant to Section 5(j) below in satisfaction of any fees or 

1

 

expenses of Escrow Agent or its counsel that are not paid as provided for therein. The power of attorney contained in this Section 1(f) shall not be revocable by GlobalMedia; provided, that
this power of attorney shall terminate upon (1) Escrow Agent's distribution of the Escrow Shares pursuant to Section 1(d) above, or (2) termination of the Escrow Fund pursuant to
Section 4 below. The parties hereto agree that for so long as any stock of SurferNetwork or another entity is held in the Escrow Fund, such stock shall be transferred on the books of
SurferNetwork or such other entity only as directed by Escrow Agent. 

2.  INVESTMENT OF FUNDS; DISTRIBUTIONS  

    Except as SurferNetwork and GlobalMedia may from time to time jointly instruct Escrow Agent in writing, the portion of the Escrow Fund, if any, which is
represented by cash or same day funds shall be invested from time to time, to the extent possible, in United States Treasury bills having a remaining maturity of 90 days or less and repurchase
obligations secured by such United States Treasury Bills, with any remainder being deposited and maintained in a money market deposit account with Escrow Agent, until disbursement of the entire Escrow
Fund. Escrow Agent shall invest any remainder funds in the triple "A" rated First American Prime Obligations Money Fund (Class D). The parties hereto hereby confirm receipt of the First
American Funds prospectus. The parties further acknowledge that the fund investment advisor and custodian are subsidiaries of U.S. Bancorp, and investment in the fund includes approval of the fund's
fees and expenses as detailed in the prospectus, including advisory and custodial fees and shareholder service expenses (which may be so called 12b-1 shareholder service fees), which fees
and expenses are paid to U.S. Bank Trust National Association or U.S. Bank National Association, or subsidiaries of U.S. Bancorp. The shares of the funds are not deposits or obligations of, or
guaranteed by, any bank including U.S. Bank National Association, U.S. Bank Trust National Association or any of their affiliates, nor are they insured by the Federal Deposit Insurance Commission, the
Federal Reserve Board or any other agency. The investment in the fund involves investment risk, including possible loss of principal. All accrued interest shall become part of the Escrow Fund. All
entities entitled to receive interest from the escrow account will provide Escrow Holder with a W-9 or W-8 IRS tax form prior to the disbursement of interest. A statement of
citizenship will be provided if requested by Escrow Agent. Escrow Agent shall not be liable for losses, penalties or charges incurred upon any sale or purchase of any such investment. Escrow Agent is
authorized to liquidate in accordance with its customary procedures any portion of the Escrow Fund consisting of investments made by Escrow Agent pursuant to this Section 2 to provide for
payments required to be made under this Agreement. Any distributions received by Escrow Agent with respect to investments made by Escrow Agent pursuant to this Section 2 shall be paid to
GlobalMedia following Escrow Agent's receipt thereof and shall not constitute a portion of the Escrow Fund. 

3.  CLAIMS  

    (a) From time to time between the Closing Date and the second anniversary of the Closing Date (the "Escrow Period"), SurferNetwork may give notice (a "Notice")
to GlobalMedia and Escrow Agent specifying in reasonable detail the nature and dollar amount of any claim (a "Claim") it may have for indemnification under Article 5 of the Purchase Agreement.
SurferNetwork may make more than one Claim with respect to any underlying state of facts. If GlobalMedia gives notice to SurferNetwork and Escrow Agent disputing any Claim (a "Counter Notice") within
15 days following receipt by GlobalMedia of the Notice regarding such Claim, such Claim shall be resolved as provided in Section 3(b). If no Counter Notice is received by Escrow Agent
within such 15-day period, then the dollar amount of the Claim shall be deemed established for purposes of this Escrow Agreement and the Purchase Agreement and, at the end of such
15-day period, Escrow Agent shall deliver to SurferNetwork from (and only to the extent of) the Escrow Fund any cash held in the Escrow Fund
(including any cash resulting from the liquidation of investments made by Escrow Agent pursuant to Section 2(a) above), up to the full dollar amount of the Claim. If there is insufficient cash
in the 

2

 

Escrow Fund to pay to SurferNetwork the full dollar amount of the Claim, Escrow Agent shall next deliver to SurferNetwork from (and only to the extent of) the Escrow Fund that number of Escrow Shares
equal to that portion of the dollar amount of the Claim which was not paid in cash divided by the Stock Value. Escrow Agent shall not inquire into or consider whether a Claim complies with the
requirements of the Purchase Agreement. 

    (b)
If a Counter Notice is given with respect to a Claim, Escrow Agent shall make payment with respect to such Claim only in accordance with (i) joint written instructions of
SurferNetwork and GlobalMedia or (ii) a final non-appealable order of a court of competent jurisdiction. Any court order shall be accompanied by a legal opinion by counsel for the
presenting party satisfactory to Escrow Agent to the effect that the order is final and non-appealable. Escrow Agent shall act on such court order and legal opinion without further
question or challenge to its authority. 

    (c)
Notwithstanding Sections 3(a) and (b) above, GlobalMedia may at any time exercise its right under Section 1(d) hereof, and, regardless of any Claim in effect at that
time, Escrow Agent shall distribute the Escrow Shares in accordance with Section 1(d). 

4.  TERMINATION OF ESCROW  

    On the expiration of the Escrow Period, Escrow Agent shall pay and distribute the Escrow Fund to GlobalMedia unless prior to such expiration SurferNetwork has
provided to GlobalMedia and Escrow Agent a certificate of an officer of SurferNetwork stating that, in SurferNetwork's reasonable judgment, retention in the Escrow Fund of a specified number of Escrow
Shares or a specified dollar amount is necessary to satisfy any unsatisfied Claims with respect to facts and circumstances existing on or prior to the expiration of the Escrow Period, which Claims
shall be specified in such certificate. In the event SurferNetwork provides such an officer's certificate to GlobalMedia and Escrow Agent prior to the expiration of the Escrow Period, Escrow Agent
shall retain in the Escrow Fund the number of Escrow Shares (subject to the right of GlobalMedia under Sections 1(d) and 3(c) above) or the dollar amount, as applicable, specified in such certificate
until the Claims set forth in such certificate have been resolved in accordance with Section 3 above. 

5.  DUTIES OF ESCROW AGENT  

    (a) Escrow Agent shall not be under any duty to give the Escrow Fund held by it hereunder any greater degree of care than it gives its own similar property and
shall not be required to invest any funds held hereunder except as directed in this Agreement. Uninvested funds held hereunder shall not earn or accrue interest. 

    (b)
Escrow Agent shall not be liable, except for its own gross negligence or willful misconduct and, except with respect to claims based upon such gross negligence or willful
misconduct that are successfully asserted against Escrow Agent, the other parties hereto shall jointly and severally indemnify and hold harmless Escrow Agent (and any successor Escrow Agent) from and
against any and all losses, liabilities, claims, actions, damages and expenses, including reasonable attorneys' fees and disbursements, arising out of and in connection with this Agreement. Without
limiting the foregoing, Escrow Agent shall in no event be liable in connection with its investment or reinvestment of any cash held by it hereunder in good faith, in accordance with the terms hereof,
including, without limitation, any liability for any delay (not resulting from its gross negligence or willful misconduct) in the investment or reinvestment of the Escrow Fund, or any loss of interest
incident to any such delay. 

    (c)
Escrow Agent shall be entitled to rely upon any order, judgment, certification, demand, notice, instrument or other writing delivered to it hereunder without being required to
determine the authenticity or the correctness of any fact stated therein or the propriety or validity of the service thereof. Escrow Agent may act in reliance upon any instrument or signature believed
by it to be genuine and may assume that the person purporting to give receipt or advice or make any statement or 

3

 

execute any document in connection with the provisions hereof has been duly authorized to do so. Escrow Agent may conclusively presume that the undersigned representative of any party hereto which is
an entity other than a natural person has full power and authority to instruct Escrow Agent on behalf of that party unless written notice to the contrary is delivered to Escrow Agent. 

    (d)
Escrow Agent may act pursuant to the advice of counsel with respect to any matter relating to this Agreement and shall not be liable for any action taken or omitted by it in good
faith in accordance with such advice. 

    (e)
Escrow Agent does not have any interest in the Escrow Fund deposited hereunder but is serving as escrow holder only and has only possession thereof. Any payment of income from the
Escrow Fund shall be subject to withholding regulations then in force with respect to United States taxes. The parties
hereto will provide Escrow Agent with appropriate Internal Revenue Service Forms W-9 for tax identification number certification. This Section 5(e) and Section 5(b) above
shall survive notwithstanding any termination of this Agreement or the resignation of Escrow Agent. 

    (f)
Escrow Agent makes no representation as to the validity, value, genuineness or collectibility of any security or other document or instrument held by or delivered to it. 

    (g)
Escrow Agent shall not be called upon to advise any party as to the wisdom in selling or retaining or taking or refraining from any action with respect to any securities or other
property deposited hereunder. 

    (h)
Escrow Agent (and any successor Escrow Agent) may at any time resign as such by delivering the Escrow Fund to any successor Escrow Agent jointly designated by the other parties
hereto in writing, or to any court of competent jurisdiction, whereupon Escrow Agent shall be discharged of and from any and all further obligations arising in connection with this Agreement. The
resignation of Escrow Agent will take effect on the earlier of (a) the appointment of a successor (including deposit into a court of competent jurisdiction) or (b) the day which is
30 days after the date of delivery of its written notice of resignation to the other parties hereto. If at that time Escrow Agent has not received a designation of a successor Escrow Agent,
Escrow Agent's sole responsibility after that time shall be to retain and safeguard the Escrow Fund until receipt of a designation of successor Escrow Agent or a joint written disposition instruction
by the other parties hereto or a final non-appealable order of a court of competent jurisdiction. SurferNetwork and GlobalMedia may jointly appoint a successor Escrow Agent by written
notice to the then current Escrow Agent, in which case the then current Escrow Agent shall be deemed to have resigned upon the date of such appointment. In the event SurferNetwork and GlobalMedia are
unable to agree on a successor Escrow Agent, either may petition a court of competent jurisdiction to appoint a successor Escrow Agent. 

    (i)
In the event of any disagreement between the other parties hereto resulting in adverse claims or demands being made in connection with the Escrow Fund, or in the event that Escrow
Agent is in doubt as to what action it should take hereunder, Escrow Agent shall be entitled to retain the Escrow Fund until Escrow Agent shall have received (i) a final
non-appealable order of a court of competent jurisdiction directing delivery of the Escrow Fund or (ii) a written agreement executed by the other parties hereto directing delivery
of the Escrow Fund, in which event Escrow Agent shall disburse the Escrow Fund in accordance with such order or agreement. Any court order shall be accompanied by a legal opinion by counsel for the
presenting party satisfactory to Escrow Agent to the effect that the order is final and non-appealable. Escrow Agent shall act on such court order and legal opinion without further
question or challenge to its authority. 

    (j)
Escrow Agent shall be paid for services hereunder in accordance with the fee schedule attached hereto as Exhibit "A" and shall be reimbursed for its out of pocket expenses for
fees of counsel in setting up the escrow. Any such compensation and reimbursement to which Escrow Agent is entitled shall be borne 50% by SurferNetwork and 50% by GlobalMedia, and may, to the extent
of unpaid fees 

4

 

and expenses, be deducted from any property placed within the escrow with Escrow Agent. In the event that Escrow Agent is made a party to litigation with respect to the property held hereunder, or
brings an action in interpleader or in the event that the conditions of this escrow are not promptly fulfilled, or Escrow Agent is required to render any service not provided for in this agreement and
fee schedule, or there is any assignment of the interest of this escrow or any modification hereof, Escrow Agent shall be entitled to reasonable compensation for such extraordinary services and
reimbursement for all fees, costs, liability and expenses, including attorney fees. Escrow Agent may amend its fee schedule from time to time on 60 days prior written notice to the parties. 

    (k)
No printed or other matter in any language (including, without limitation, prospectuses, notices, reports and promotional material) that mentions Escrow Agent's name or the
rights, powers, or duties of Escrow Agent shall be issued by the other parties hereto or on such parties' behalf unless Escrow Agent shall first have given its specific written consent thereto. 

    (l)
The other parties hereto authorize Escrow Agent, with respect to any securities held hereunder, to use the services of any United States central securities depository it
reasonably deems appropriate, including, without limitation, the Depositary Trust Company and the Federal Reserve Book Entry System. 

6.  LIMITED RESPONSIBILITY  

    This Agreement expressly sets forth all the duties of Escrow Agent with respect to any and all matters pertinent hereto. No implied duties or obligations shall
be read into this Agreement against Escrow Agent. Escrow Agent shall not be bound by the provisions of any agreement among the other parties hereto except this Agreement. 

7.  OWNERSHIP FOR TAX PURPOSES  

    The parties agree that, for purposes of federal and other taxes based on income, GlobalMedia will be treated as the owner of the Escrow Fund and that
GlobalMedia will report all income, if any, that is earned on, or derived from, the Escrow Fund as GlobalMedia's income in the taxable year or years in which such income is properly includible and
will pay any taxes attributable thereto. 

8.  NOTICES  

    All notices, consents, waivers and other communications under this Agreement must be in writing and will be deemed to have been duly given if mailed by
certified mail, return receipt requested, 

5

 

postage prepaid, addressed as follows, or to such other address as any party shall designate by notice duly given hereunder: 

	If to GlobalMedia, to:	 	If to SurferNetwork, to:
	

GlobalMedia.com

400 Robson Street

Vancouver, British Columbia

Canada V6B 2B4

Attention: Chief Executive Officer	
 	

SurferNETWORK.com, Inc.

500 International Drive

Mt. Olive, New Jersey 07828

Attention: Gordon Bridge, Chairman and

Chief Executive Officer
	

with a copy to:	
 	

with a copy to:
	

Davis Wright Tremaine LLP

1501 Fourth Avenue, Suite 2600

Seattle, WA 98101-1688

Attention: Eugenie D. Mansfield, Esq.	
 	

Law Offices of Eric S. Hutner & Associates

One World Trade Center, 85th Fl.

New York, NY 10048

Attention: Eric S. Hutner, Esq.
	

If to Escrow Agent, to:	
 	

With a copy to:
	

U.S. Bank Trust National Association

180 E. Fifth Street

St. Paul, MN 55101

Attention: Brian Giel	
 	

U.S. Bank Trust National Association

1420 5th Ave. 7th Floor

Seattle, WA 98101

Attention: Shirley Young

9.  GOVERNING LAW AND JURISDICTION  

    This Agreement and the legal relations among the parties hereto will be governed by and construed in accordance with the laws of the State of New York. 

10.  COUNTERPARTS  

    This Agreement may be executed in any number of counterparts with the same effect as if all of the parties had signed the same document. Such executions may be
transmitted to the parties by facsimile and such facsimile execution shall have the full force and effect of an original signature. All fully executed counterparts, whether original executions or
facsimile executions or a combination, shall be construed together and shall constitute one and the same agreement. 

11.  SECTION HEADINGS  

    The headings of sections in this Agreement are provided for convenience only and will not affect its construction or interpretation. 

12.  WAIVER  

    The rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by any party in exercising any
right, power, or privilege under this Agreement or the documents referred to in this Agreement will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any
such right, power, or privilege will preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege. To the maximum extent permitted
by applicable law, (a) no claim or right arising out of this Agreement or the documents referred to in this Agreement can be discharged by one party, in whole or in part, by a waiver or
renunciation of the claim or right unless in writing signed by the other 

6

 

party; (b) no waiver that may be given by a party will be applicable except in the specific instance for which it is given; and (c) no notice to or demand on one party will be deemed to
be a waiver of any obligation of such party or of the right of the party giving such notice or demand to take further action without notice or demand as provided in this Agreement or the documents
referred to in this Agreement. 

13.  EXCLUSIVE AGREEMENT AND MODIFICATION  

    This Agreement supersedes all prior agreements among the parties with respect to its subject matter and constitutes (along with the documents referred to in
this Agreement) a complete and exclusive statement of the terms of the agreement between the parties with respect to its subject matter. This Agreement may not be amended except by a written agreement
executed by SurferNetwork, GlobalMedia, and Escrow Agent. 

[EXECUTIONS APPEAR ON THE FOLLOWING PAGE(S)]

7

 
 
 

EXECUTION PAGE
  TO THE
  ESCROW AGREEMENT    
  

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

	 	GLOBALMEDIA:
	

 	

GLOBALMEDIA.COM

By: 
 Chief Executive Officer
	

 	
SURFERNETWORK:
	

 	

SURFERNETWORK.COM, INC.
	

 	

By: 
 Gordon Bridge

Chairman and CEO
	

 	
ESCROW AGENT:
	

 	

U.S. BANK TRUST NATIONAL ASSOCIATION
	

 	

By: 
 Shirley Young, AVP

8

 
 
 

EXHIBIT A
  FEE SCHEDULE    
  

   

        Corporate Trust

 Services  

SCHEDULE OF FEES FOR ESCROW SERVICES

GlobalMedia.com Stock Escrow  

	ACCEPTANCE FEE	 	 
	

 	
 	

The acceptance fee includes the review of all documents, initial set-up of the account, and other reasonably required services up to and including the closing. This is a one-time fee, payable at closing.	
 	

$500
	

 	
 	

U.S. Bank Trust National Association reserves the right to refer any or all escrow documents for legal review prior to execution. Legal fees (billed on an hourly basis) and expenses for this service will be to, and paid by, the customer. Where
appropriate and when requested by the customer, U.S. Bank Trust National Association will provide advance estimates of these legal fees.	
 	

 
	
ADMINISTRATION/AGENT FEES	
 	

 
	

 	
 	

Annual account administration fee covers the normal duties of associated with the management of the account. Administration fees are payable in advance and will not be prorated.	
 	

$500
	
DIRECT OUT OF POCKET	
 	

 
	

 	
 	

155-162 Reimbursement of direct expenses associated with the performance of our duties, including but not limited to publications, legal, and travel expenses, and filing fees.	
 	

At Cost
	
EXTRAORDINARY SERVICES	
 	

 
	

 	
 	

172-205 Charge for duties or responsibilities of an unusual nature not provided for in the indenture or otherwise set forth in this schedule. A reasonable charge will be made based on the nature of the service and the responsibility involved. These
charges will be billed as a flat fee or our hourly rate then in effect, at our option.	
 	

 

Final
account acceptance is subject to review of documents. Fees are based on our understanding of the transaction and are subject to revision if the structure is changed. In the event this
transaction does not close, any related out-of-pocket expenses will be billed to you at cost. Fees for any services not specifically covered will be based on appraisal of
services rendered. 

With
general reference to all of our charges, it should be understood that they are subject to adjustment from time to time, upon written notification. 

The
fees in this schedule are the terms under which you agree to do business. Closing the transaction constitutes agreement to this fee schedule, as does payment of the invoice received after
subsequent fee adjustment notification. 

All
fees are subject to Washington State sales tax (currently 8.6%). 

Absent
your instructions to sweep or otherwise invest balances, no interest, earnings, or other compensation for uninvested balances will be paid to you. 

	Dated: February      , 2001	 	CONFIDENTIAL

9

QuickLinks

ESCROW AGREEMENT

EXECUTION PAGE TO THE ESCROW AGREEMENT

EXHIBIT A FEE SCHEDULEPrepared by MERRILL CORPORATION www.edgaradvantage.com

QuickLinks
 -- Click here to rapidly navigate through this document
  

Exhibit 10.10  

 
 

EXECUTIVE AGREEMENT    
  

    This EXECUTIVE AGREEMENT (the "Agreement") is entered into as of November 15, 2000, between
GLOBALMEDIA.COM, a Nevada corporation (the "Company"), and BARR B. POTTER, a California resident (the "the
Executive"). 

 
 

BACKGROUND    
  

    A. The Executive has been an outside director of the Company since May 1999. 

    B.
The Company desires to engage the Executive as its President and Chief Operating Officer ("COO"), and the Executive desires to make
his services available to the Company, on the terms and subject to the conditions set forth in this Agreement. 

 
 

AGREEMENT    
  

    In exchange for the mutual promises made in this Agreement, and other good and valuable consideration, the sufficiency of which is acknowledged, the Company
and the Executive agree as follows: 

    1.  Employment.  

     1.1  Position.  Subject to the terms and conditions of this Agreement, the Company agrees to employ the
Executive as the Company's President and COO and the Executive agrees to accept such employment. 

     1.2  Board of Directors.  So long as the Executive is employed by the Company as its President, the
Company agrees to nominate the Executive for election to the Board of Directors at meetings of the Company's shareholders called for the election of directors, and the Executive agrees to accept such
position if elected. The Executive agrees that if his employment as President is terminated for any reason whatsoever, he will immediately resign from the Board of Directors. Payment of any Severance
Benefits to which the Executive may otherwise be entitled under Section 5.2 may be conditioned upon the Executive's tender of such resignation. 

     1.3  Director and Officer ("D&O") Insurance.  The Company agrees that the Executive will be covered by
the Company's D&O insurance policy, both during and after the term of this Agreement, for all periods in which the Executive serves as an executive officer or director of the Company. 

    2.  Term.  This Agreement is effective as of its date
("Commencement Date"), and subject to Section 4, will continue for one year from the Commencement
Date (the "Term"). 

    3.  Duties of the Executive.  The Executive will report
to the Chairman and CEO and will have the authority, and will perform all of the duties normally associated with those positions. The Executive will diligently perform all duties and responsibilities
as may be assigned to him by the Board of Directors and the CEO. 

     3.1  Full Attention and Effort.  The Executive will devote his full business time and attention to the
business and affairs of the Company as necessary to perform his duties and responsibilities under this Agreement, render such services to the best of his ability, and use his best efforts to promote
the interests of the Company. The Executive will not, without Company's prior written consent, directly or indirectly engage in any employment, consulting, or other activity that would interfere or
conflict with the performance of the Executive's duties or obligations to Company or that would directly or indirectly compete with Company. 

1

 

     3.2  Location.  The Executive will be based in Los Angeles, but acknowledges that the Company expects him
to spend a significant amount of his working time in the Company's Vancouver, B.C. headquarters,
to the extent not otherwise travelling on Company business, in an amount to be mutually determined between the Executive and the CEO. 

    4.  Compensation.  

     4.1  Base Compensation.  The Executive will receive an annual salary of US$200,000
("Base Compensation") payable after the Commencement Date in installments consistent with the Company's normal payroll schedule on or about either the
first or fifteenth day of the month, subject to all withholding as is legally required or directed by the Executive. 

     4.2  Bonuses.  

    a.  Signing Bonus. As an incentive to enter into this Agreement, the Company will pay to the Executive a cash bonus of
$40,000, due upon the execution of this Agreement by both parties. 

    b.  Year-End Bonus. For each 12-month period in the Term or any extension of the Term, the
Executive will also be eligible for a year-end bonus of not less than US$100,000 (the "Year-End Bonus"), based upon achievement
of goals and milestones during that year, the terms and achievement of which will be determined at the discretion of the Board of Directors. The Company will pay the Year-End Bonus within
30 days after the end of the Term. 

     4.3  Options.  The Company will grant the Executive an option to purchase 500,000 shares of the Company's
common stock (the "Options"), at $.40625 per share (the current market value of the common stock as of the Commencement Date), as an incentive to enter
into this Agreement. Subject to Section 5.2(b), the Options will vest according to the following schedule: 

	Vesting Period
	 	%
	 	Exercisable Options

	At November 15, 2000	 	40	%	200,000
	February 15, 2001	 	15	%	75,000
	May 15, 2001	 	15	%	75,000
	August 15, 2001	 	15	%	75,000
	November 15, 2001	 	15	%	75,000
	 	 	
	 	

	 	Total	 	100	 	500,000
	 	 	
	 	

The
Options will be granted under the Company's 2000 Stock Option Plan and the Stock Option Agreement to be entered into as of the Commencement Date. The Executive acknowledges that the grant of the
Options, the Executive's exercise of the Options, and the disposition of the shares issued on exercise of the Options, will be subject to all requirements under the Securities Act of 1933, the
Securities Exchange Act of 1934 and the rules and regulations thereunder, including the manner of sale and volume limitations of Rule 144 under the Securities Act, and any applicable state
securities laws. The Options are being granted in addition to, and not in lieu of, any options previously granted to the Executive for his services as a director of the Company. 

     4.4  Restricted Stock.  On the Commencement Date, the Executive and Michael Metcalfe, the principal
shareholder of the Company ("Metcalfe"), will enter into a mutually acceptable written agreement (the "Restricted Stock Purchase
Agreement") under which Metcalfe will agree to sell to the Executive 100,000 shares of the Company's common stock (the "Restricted
Stock") 

2

 

for $.02 per share, at any time during the Term. In the agreement, the Executive will acknowledge and agree that: 

    a.  He will acquire the Restricted Stock for investment only, not with a view to the distribution or other disposition
thereof in violation of the under the Securities Act of 1933, as amended (the "Securities Act"). 

    b.  The Restricted Stock will be "restricted securities" within the meaning of Rule 144 under the Securities Act
and the stock certificate evidencing the Restricted Stock will bear customary restricted securities legends. 

    c.  The Executive's holding period with respect to the Restricted Stock under Rule 144(d) will commence on the
Commencement Date, 

    d.  The Restricted Stock may not be sold or otherwise transferred (other than a transfer without consideration pursuant
to the Executive's will or the laws of intestacy) for the Term (the "Lockup Period"). 

    e.  The Restricted Stock will be held in escrow by the Company until the end of the Lockup Period at which time it will
be released to the Executive. 

    f.  The Company will be under no obligation to register the Restricted Stock for public resale under the Securities Act
at any time, except as otherwise provided in the Restricted Stock Purchase Agreement. 

    g.  The grant of the Restricted Stock, the Executive's holding of the Restricted Stock, and any disposition of the
Restricted Stock, will otherwise be subject to all requirements under the Securities Act, the Securities Exchange Act of 1934 and the rules and regulations thereunder. 

     4.5  Vacation.  The Executive will be entitled to 15 business days paid vacation plus U.S. government
holidays during the Term, except that the Executive agrees that he will not be entitled to more than ten consecutive days vacation during the Term or during any annual extension of the Term. Such
vacation will be taken at a time mutually convenient to Company and the Executive. If this Agreement is extended beyond the Term, for each year of continuous service under this Agreement, the
Executive may accumulate up to five days of unused vacation time and carry it over to the succeeding year. 

     4.6  Benefit Plans  As of the Commencement Date, the Executive will be entitled to participate in all
perquisites and benefit plans adopted for the general benefit of the Company's executives, such as pension plans, profit sharing plans, medical plans, group or other insurance plans and benefits, if
any, to the extent that the Executive is and remains eligible to participate therein and subject to the eligibility provisions of such plans in effect from time to time. In lieu of medical and dental
benefits under Company plans, the Company may reimburse the Executive for the cost of continuing coverage under the Executive's prior employer for the maximum period allowable under COBRA. 

     4.7  Living and Other Expenses.  The Executive will have use of the Company's corporate apartment in
Vancouver, British Columbia. The Company will cover rent, utilities, cleaning service, and cable/telephone/DSL charges at that apartment. All other living expenses will be the Executive's
responsibility. The Executive will be entitled to reimbursement of reasonable business expenses in accordance with Company policies in effect from time to time. 

     4.8  Travel Expenses.  The Executive will be reimbursed for the cost of two personal round trips per
month between Los Angeles and Vancouver, BC. All trips solely for business purposes will also be reimbursed by Company. 

    5.  Termination of Employment; Severance Agreements.  

3

 

     5.1  Termination of Employment.  The Executive's employment may be terminated upon the occurrence of any
of the following events, and subject to the following conditions: 

    a.  Termination for Cause. The Company may terminate the Executive for
Cause effective immediately after the Company provides to the Executive written notice of such termination. "Cause" means dishonesty, gross neglect of
duties, conflict of interest, professional negligence, fraud or misrepresentation, refusal or repeated failure to carry out reasonable directives of the CEO or the Board of Directors, conviction of or
pleading guilty or no contest to a felony or crime involving moral turpitude, any material breach of this Agreement, or any other act or failure to act that, in the reasonable good faith business
judgment of the Board of Directors, substantially impairs Company's business or reputation. 

    b.  Voluntary Termination; Termination Without Cause. The Executive may
voluntarily terminate his employment with the Company at any time for any reason ("Voluntary Termination"). Except as
otherwise provided in Section 6, the Company may terminate the Executive's employment without Cause, for any or no reason at the Company's sole
discretion. In both cases, the effective date of termination will be at least 90 days after written notice from the terminating party to the other. 

    c.  Death. The Executive's employment will terminate automatically upon
the Executive's death. 

    d.  Disability. The Executive's employment will terminate automatically
upon the Executive's Disability. "Disability" means that the Executive has been unable to perform his duties under this Agreement as a result of his
incapacity due to physical or mental illness, and such inability continues for at least 60 consecutive calendar days or 90 nonconsecutive days during any consecutive 12-month period after
its commencement, and is determined to be total and permanent by a physician selected by Company. 

    5.2  Severance Agreements.  

    a.  Transition Assistance. If the Executive's employment is terminated
under Section 5.1(b) by the required notice, then (i) the Executive will assist the Company in finding a replacement for the position he
holds at that time, and (ii) if that replacement is found within the 90-day notice period, the Executive will assist the Company in effecting a smooth transition (the
"Transition Assistance"). 

    b.  Cash Compensation. Upon termination of the Executive's employment
for any reason, the Company will pay the Executive, at the next regularly scheduled pay period following the date of termination, (i) the Base Compensation due the Executive,
(ii) subject to Section 5.3(a), any declared but unpaid Year-End Bonus, and (iii) any accrued and unused vacation
benefits to which the Executive is entitled under Section 5.2(c), all of the foregoing through the effective date of the Executive's termination of
employment. 

    c.  Accumulated Vacation Time. If this Agreement is terminated by either
Company or the Executive, then the Company will pay the Executive for any unused vacation time accumulated during the current year (on a pro rata basis for partial years) plus any unused approved
carry-over vacation time from the prior year, if applicable, to which the Executive is entitled under Section 4.5. 

    d.  Unvested Options. All of the Executive's unvested Options will
become fully vested as of the employment termination date unless the Executive is terminated for Cause under Section 5.1(a) or unless there is a
Voluntary Termination without the required notice. 

    e.  Vested Options. The Executive will have 90 days from the
effective date of termination for any reason to exercise any Options that are vested as of the effective date of the Executive's 

4

 

termination of employment (including any Options for which vesting has been accelerated pursuant to Section 5.2(d)), after which time the Options
will terminate. 

    f.  Restricted Stock. All restrictions on the Restricted Stock, except
as imposed by federal and state securities laws, will be removed if (a) the Executive's employment is terminated by the Company without the required notice under  Section 5.1(b) or
Section 6, and (b) the Executive uses his best efforts to provide the
Transition Assistance pursuant to Section 5.1(b), if applicable. In all other cases, the Company will have the right to repurchase the Restricted Stock
upon termination of the Executive's employment, exercisable upon written notice to the Executive within 60 days following the effective date of such termination, and by payment by cash or
certified check to the Executive of the repurchase price of $.01 per share. The Executive shall be entitled to "piggyback" registration rights with regard to all Restricted Stock owned by the
Executive after termination, subject to deferral by any underwriter of the offering if in the underwriter's discretion it would not be in the Company's or the offering's best interest to include the
Restricted Stock for resale in such offering. This piggyback registration right shall terminate once the Executive can sell the Restricted Stock under Rule 144 of the Securities Act of 1933
without restriction. 

     5.3  Severance Benefits.  The Executive will be entitled to receive Severance Benefits upon termination
of employment only to the extent specifically set forth in this Section 5.3. "Severance Benefits"
means (1) Base Compensation for the Severance Period (as defined below), (2) Company health insurance (or separate insurance providing comparable coverage) except in the case of
termination under Section 5.1(c), and (3) other employee benefits, if any, in which the Executive is participating at the time of
termination of employment. Notwithstanding the above, the Executive will be entitled to COBRA benefits upon termination, except for termination under  Section 5.1(c), and those benefits are
not included in the definition of Severance Benefits. 

    a.  Section 5.1(b) Termination. If the Company terminates the
Executive's employment under Section 5.1(b) by the proper notice, or in the case of a Voluntary Termination, with or without the required notice, then
(i) the Executive will not be entitled to Severance Benefits, and (ii) the Company will have the option of not paying all or part of any undeclared and unpaid Year-End Bonus
accruing before the date of Termination or during the Severance Period, at the discretion of the Board of Directors. 

    b.  Involuntary Termination. If the Executive's employment is terminated
by the Company without Cause under Section 5.1(b) without the required notice or under Sections 5.1(c)
or (d) (each an "Involuntary Termination"), the Executive (or his estate) will be entitled to receive
Severance Benefits equal to the longer of (i) the remaining Term or (ii) 90 days (the "Severance Period"). Such payments will be
made ratably over the Severance Period according to the Company's standard payroll schedule. However, Severance Benefits will immediately cease upon the Executive's acceptance of other employment at
the same or greater level of compensation and benefits, regardless of whether the Severance Period has expired. However, the Executive shall have a duty to mitigate his damages, and if he accepts
employment for a lesser amount, then the Severance Benefits will be reduced commensurate with the salary received in such employment. 

    c.  Termination for Cause. If the Executive's employment is terminated
for Cause, the Executive will not receive Severance Benefits. 

    6.  Change of Control.  

     6.1  Rights upon Certain Events.  If a Change of Control Transaction occurs, then the Executive would
have the following rights, notwithstanding anything to the contrary in Section 5: 

    a.  Termination. The Executive will have the right to terminate his
employment at anytime after such date or occurrence upon two weeks prior written notice to the Company. 

5

 

    b.  Compensation. Upon termination under  Section 6.1(a), all
unpaid Base Compensation for the Severance Period, and the Year-End Bonus (in an amount not less than $100,000),
will be payable to the Executive at the end of the notice period. 

    c.  Unvested Options. All unvested Options held by the Executive will
automatically vest at the end of the notice period, and all vested Options will be exercisable for five years from the end of the notice period. 

    d.  Restricted Stock. All restrictions on the Restricted Stock, except
as imposed by federal and state securities laws, will be removed as of the end of the notice period and the Executive will be entitled to the piggyback registration rights provided for in  Section 5.2(f)
. 

    e.  Medical/Dental Benefits: The Executive will be entitled to the
continuation of his medical and dental benefits as provided by COBRA. 

     6.2  "Change of Control Transaction"  means a transaction or single series of related transactions in
which: 

    a.  there is (i) the direct or indirect sale of or exchange in a single series of related transactions by the
Company's shareholders of more than 50% of the Company's voting stock, (ii) a merger or consolidation in which the Company is a party, or (iii) the sale, exchange or transfer of all or
substantially all of the assets of the Company; or 

    b.  where the Company's shareholders do not retain direct or indirect beneficial ownership of more than 50% of the total
combined voting power of the outstanding voting stock of the Company or the entity to which the assets of the Company were transferred, as the case may be, in substantially the same proportions as
their ownership of shares of the Company's voting stock immediately before such transaction; or

    c.  if any of the following events with regard to the Company occurs: its dissolution or termination of existence, its
insolvency, the appointment of a receiver for any part of its property, any assignment by it for the benefit of creditors, or the commencement of any proceeding with regard to it under any bankruptcy
or insolvency laws. 

    7.  Non-Competition; Non-Solicitation; Non-Use of
Confidential Information  

     7.1  Agreement Not to Compete.  The Executive agrees that Company is engaged in a highly competitive
business in an international marketplace, and that during the Term of this Agreement and for a period of one year following the termination or expiration of his employment for any reason whatsoever,
he will not, without the prior written consent of the Company, either directly or indirectly, on his own behalf or in the service of or on behalf of others as a shareholder, director, officer,
trustee, consultant, independent contractor, employee or agent, engage in, or be employed by, or solicit business for, or provide services to, any Competing Business, in North America.
"Competing Business" means any
business or enterprise that is engaged in (i) the streaming media services or the sale or licensing of technologies related thereto, or (ii) consumer e-commerce or the sale
or licensing of technologies related thereto. This restriction shall not apply in the event the Executive terminates his employment pursuant to  Section 6.1(a) above. 

    7.2  Non-Solicitation.  

    a.  Agreement Not to Estrange Customers. The Executive agrees that,
during the Term of this Agreement and for two years following the termination or expiration of his employment for any reason whatsoever, he will not, without the prior written consent of the Company,
either directly or indirectly attempt to or induce any actual or prospective client or customer of the Company to cease to do business or to reduce or limit its business with Company or any of its
subsidiaries or affiliates. A prospective customer is one with whom Company or its subsidiaries or affiliates have 

6

 

had discussion or contact during the Term of this Agreement, or with whom the Executive has been notified that the Company or its subsidiaries or affiliates are contemplating doing business. This
restriction shall not apply in the event the Executive terminates his employment pursuant to Section 6.1(a) for the reason set forth in  Section 6.2(c)
. 

    b.  Agreement Not to Estrange Personnel. The Executive agrees that
during the Term of this Agreement and for two years following the termination or expiration of his employment for any reason whatsoever, he will not, either directly or indirectly, on his own behalf
or in the service or on behalf of others, solicit, divert, or attempt to solicit, divert or in any way induce any person employed by the Company or any subsidiary or affiliate to discontinue or reduce
employment or association therewith, whether or not such person is a full time employee, consultant, contractor, or temporary employee of the Company or any subsidiary or affiliate and whether or not
such employment is for a determined period or is at will. This restriction shall not apply in the event the Executive terminates his employment pursuant to  Section 6.1(a) for the reason set
forth in Section 6.2(c). 

    c.  Agreement not to Estrange Suppliers and Vendors. The Executive
agrees that during the Term of the Agreement and for two year following the termination or expiration of his employment for any reason whatsoever, he will not, either directly or indirectly, on his
own behalf or in the service or on behalf of others, solicit, divert, or attempt to induce any supplier, vendor or other provider to discontinue or limit its association with the Company or any
subsidiary or affiliate thereof. This restriction shall not apply in the event the Executive terminates his employment pursuant to Section 6.1(a)
for the reason set forth in Section 6.2(c). 

    7.3  Ownership and Non-Disclosure and Non-Use of Confidential
Information.  

    a.  Company and the Executive contemplate, that during the period of this Agreement, the Executive will be assisting in
the development of new business strategies, products, and services, and will gain access to confidential and proprietary information of the Company. As used in this Agreement,
"Confidential Information" includes all material and information that is considered confidential or a trade secret of Company under RCW 19.108, the
value of which arises from the fact that it is not generally known to others who might be able to benefit from it, and also includes but is not limited to customer sales and marketing information,
customer account records, proprietary receipts and/or processing techniques, information regarding vendors and products, training and operations memoranda and similar information, personnel records,
pricing information, financial information and information concerning or relating to the business, accounts, customers, employees and affairs of the Company, or any subsidiary or affiliate thereof,
created or obtained by or furnished, disclosed or disseminated to the Executive, or obtained, assembled or compiled by the Executive or under his supervision during the course of his employment by the
Company, and all physical embodiments of the foregoing, all of which are hereby agreed to be the property of and confidential to the Company. 

    b.  The Executive acknowledges and agrees that all Confidential Information, and all physical embodiments thereof, are
confidential to and will be and remain the sole and exclusive property of the Company. Upon request by the Company, and in any event upon termination of the Executive's employment with the Company, as
a prior condition to the Executive's receipt of any final salary or benefit payments hereunder the Executive, will deliver to the Company all property belonging to the Company or any of its
subsidiaries or affiliates, including, without limitation, all Confidential Information (and all embodiments thereof), then in his custody, control or possession, but any forfeiture of such salary or
benefit will not be considered a satisfaction or a release of or liquidated damages for any claim(s) for damages against the Executive that may accrue to the Company, as a result of any breach of this  Section
 7.3 by the Executive. 

7

 

    c.  The Executive agrees that he will not, either during the Term of this Agreement or at any time thereafter, without
the prior written consent of the Company, use, disclose or make available any Confidential Information to any person or entity, nor will he use, disclose, make available or cause to be used, disclosed
or made available, or permit or allow, either on his own behalf or on behalf of others, any use or disclosure of such Confidential Information other than in the proper performance of the Executive's
duties hereunder. 

     7.4  Inventions and Work Product.  The Executive will disclose promptly to the Company any and all
conceptions and ideas for inventions, improvements, valuable discoveries, marketing or other plans,
customer lists, or ideas (including but not limited to manuals, software, training programs, databases, techniques, improvements, and other developments), and all tangible manifestations thereof,
whether patentable or not that are conceived or made by the Executive, solely or jointly with another, during the Term of this Agreement and that are related to the business or activities of the
Company regardless of whether or not such ideas, inventions, or improvements qualify as "works for hire." The Executive hereby assigns and agrees to assign all his interests therein to the Company or
its nominee, excepting only to the extent that the invention is one for which no equipment, supplies, facility or trade secret information of the Company was used and that was developed entirely on
the Executive's own time, unless (a) the invention relates (i) directly to the business of the Company, or (ii) to the Executive's actual or demonstrably anticipated research or
development, or (b) the invention results from any work performed by the Executive for the Company. Whenever requested to do so by the Company, the Executive will execute any and all
applications, assignments or other instruments that the Company will deem necessary to apply for and obtain Letters Patent of the United States or any foreign country or to otherwise protect the
Company's interest therein. 

     7.5  Reasonableness of Restrictions.  In the event that any provision relating to time period or
geographic area of any restriction set forth in this Section 7 will be declared by a court of competent jurisdiction to exceed the maximum time
period or area of restriction that the court deems reasonable and enforceable, the time period or area of restriction that the court finds to be reasonable and enforceable will be deemed to become,
and thereafter will be, the maximum time period or geographic area of such restriction as to the Executive. 

     7.6  Enforceability.  Any provision of this  Section 7 that is prohibited or unenforceable in any jurisdiction will, as to such
jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, but will be enforced to the maximum extent permitted by law, and any such prohibition or unenforceability in any jurisdiction
will not invalidate or render unenforceable such provision in any other jurisdiction. 

     7.7  Remedies.  The Executive recognizes and agrees that the obligations in this  Section 7 are the essence of this Agreement, and are
reasonable and necessary to protect the legitimate business interest and good will of
Company. The Executive acknowledges that the restrictions placed upon him by these provisions do not unreasonably interfere with his ability to earn a living during the restricted period. 

    a.  Injunction. It is recognized and hereby acknowledged and admitted by
the Executive that a breach by the Executive of any of the covenants contained in Sections 7.1 through  7.5 will cause immediate and
irreparable harm and damage to the Company and that Company's ability to seek monetary damages, including liquidated
damages, is not sufficient to prevent such irreparable harm. As a result, the Executive recognizes and acknowledges that the Company will be entitled to an injunction from any court of competent
jurisdiction enjoining and restraining any violation of any or all of the covenants contained in Sections 7.1 through  7.5 of this Agreement
by the Executive or any of his affiliates, associates, partners, or agents, either directly or indirectly, and 

8

 

that such right to injunction will be cumulative and in addition to whatever other remedies the Company may possess. 

    b.  Liquidated Damages. In the event that the Executive violates any
provision of Sections 7.1 through 7.5, the Executive agrees that, in addition to Company's right to
injunctive relief, the Executive will pay liquidated damages if any Company clients or customers begin doing business with any person, business, or other entity to whom the Executive has provided
services in violation of this Agreement. The parties agree that the Executive will pay to Company 35% of the gross of any and all fees paid to or incurred by any such customers or clients to any such
person, business, or entity during the 12 months after the Executive leaves the employ of Company. In the event that the Executive violates  Section 7.2, the Executive agrees that, in
addition to Company's right to injunctive relief, the Executive will pay liquidated damages equal to
one-half of the annual compensation payable any employee, consultant, or contractor who leaves or, on a pro rata basis reduces, his or her employment with Company due to the Executive's
conduct. The parties agree that these amounts are not intended to be a penalty, but rather represent a reasonable forecast of the actual damages that would be suffered by Company, that would otherwise
be incapable or very difficult to ascertain. 

    8.  General.  

     8.1  Section Headings.  The section headings contained in this Agreement are for reference purposes only
and will not affect in any way the meaning or interpretation of this Agreement. 

     8.2  Notices.  Any notice required or permitted to be given under this Agreement will be in writing and
will be deemed to have been given when delivered by hand or three days after sent by registered or certified United States mail, return receipt requested, postage prepaid, or the next business day
following dispatch by a reputable overnight courier service, addressed as follows: 

	(i)
	If to the Executive:

Barr
B. Potter

c/o Bruce Vann at Kelly, Lytton, Mintz and Vann

1900 Avenue of the Stars (S. 1450)

Los Angeles, CA 90067 

	(ii)
	If to the Company

GlobalMedia.com

Attn: Chairman of the Board

400 Robson Street

Vancouver, British Columbia

Canada V6B 2B4 

or
to such other addresses as either party hereto may from time to time give notice of to the other party hereto in the aforesaid manner. 

     8.3  Assignment.  The Executive agrees that his obligations under this Agreement are in the nature
requiring his personal service, and that he will not assign, sell, transfer, or delegate any rights or obligations under this Agreement. Any such purported assignment, transfer, or delegation will be
null and void. The Company will have the right to assign its rights and obligations under this Agreement to any or all of its qualifying subsidiary or affiliated companies, or the majority owner of
Company or any of its affiliated or subsidiary companies. 

     8.4  No Third-Party Beneficiaries.  Nothing expressed or implied in this Agreement is intended, or will
be construed, to confer upon or give any person other than the parties hereto and 

9

 

their respective heirs, executors, personal representative, legal representative, successors and assigns, any rights or remedies under or by reason of this Agreement. 

     8.5  Binding Effect.  This Agreement will be for the benefit of and binding upon the parties and their
respective heirs, personal representatives, legal representatives, successors and permitted assigns. 

     8.6  Severability.  The invalidity of any one or more of the words, phrases, sentences, clauses, sections
or subsections contained in this Agreement will not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being
valid in law, and, in the event that any one or more of the words, phrases, sentences, clauses, sections or subsections contained in this Agreement or any put thereof will be declared invalid, this
Agreement will be construed as if such invalid word or words, phrase or phrases, sentence or sentences, clause or clauses, section or sections or subsection or subsections had not been inserted. If
such invalidity is caused by
length of time or size of area or both, the otherwise invalid provision will be considered to be reduced to a period or area that would cure such invalidity. 

     8.7  Governing Law.  This Agreement, the rights and obligations of the parties hereto, and any claims or
disputes relating thereto, will be governed by and construed in accordance with the laws of the State of California, excluding the choice of law rules thereof. The Company and the Executive each
hereby irrevocably submit to the jurisdiction of the state or federal courts located in California in connection with any suit, action or other proceeding arising out of or relating to this Agreement
and hereby agree not to assert, by way of motion, as a defense, or otherwise in any such suit, action or proceeding that the suit, action or proceeding is brought in an inconvenient forum. that the
venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced by such courts. 

     8.8  Resolution of Claims.  

    a.  Arbitration. A claim by either party for breach or enforcement of a
provision of this Agreement and any other claim or dispute related to or arising out of the Executive's employment by Company is subject to binding arbitration, and the parties hereby waive their
right to jury trial. The arbitration will be conducted through the American Arbitration Association ("AAA"), and held before such arbitrator as the
parties may agree or, if they are unable to do so, to be selected by obtaining nine proposed arbitrators from AAA and alternatively striking names (the Executive will strike first) until one name
remains. The arbitration will be conducted in Los Angeles, California according to the AAA Commercial Arbitration Rules then in effect. A claim may be initiated by either party by submitting a written
claim to AAA, with a copy to the other party. The decision of the arbitrator will be final and conclusive, and the parties waive the right to trial de novo or appeal, excepting only for the purpose of
enforcing the arbitrator's decision, for which purpose the parties agree that the trial court for Los Angeles County, California will have jurisdiction. The substantially prevailing party will be
entitled to recover reasonable attorneys' fees and costs of the arbitration and any action necessary for enforcement, the amount of the award to be determined by the arbitrator and court,
respectively. This arbitration provision will not apply to any claims for benefits under a benefits plan that contains an arbitration provision. 

    b.  Temporary Restraining Order / Injunction. Notwithstanding  Section 8.8(a), the Company may, at
its option, proceed directly to seek a temporary restraining order, preliminary injunction, and/or other
injunctive relief for any violations by the Executive of Section 8. The substantially prevailing party will be entitled to recover its reasonable
costs and attorneys' fees. 

     8.9  Amendment; Modification; Waiver.  No amendment, modification or waiver of the terms of this
Agreement will be valid unless made in writing and duly executed by the Company 

10

 

and the Executive. No delay or failure at any time on the part of the Company in exercising any right, power or privilege under this Agreement, or in enforcing any provision of this Agreement, will
impair any such right therein, or will affect the right of the Company thereafter to enforce each and every provision of, power or privilege, or be construed as a waiver of any default or as any
acquiescence this Agreement in accordance with its terms. The waiver by either party hereto of a breach or violation of any term or provision of this Agreement will neither operate nor be construed as
a waiver of any subsequent breach or violation. 

     8.10  Confidentiality of Agreement.  The terms of this Agreement will be held in confidence by each of
the parties and will not be disclosed by either party without the other party's consent, except to the extent that disclosure is required by applicable law, including the rules and regulations of the
Securities and Exchange Commission, or by order of a court of competent jurisdiction. 

     8.11  Board Approval.  The Company represents and warrants to the Executive that the terms of this
Agreement have been approved by the Company's Board of Directors prior to its execution by the Company. 

     8.12  Obligations to Others. The Executive  represents that his employment by the Company and the
performance of services hereunder will not result in a breach of any non-competition or similar obligations to any former employer or other party. The Executive agrees that in the course
of his employment with the Company, he will not use, disclose or otherwise make available to the Company any information, documents or other items that the Executive may have received from any other
person (such as a former employer) and that the Executive is prohibited from so using or making available (whether by reason of any contract, court order, law or other legal obligation by which
Employee is bound). 

     8.13  Entire Agreement.  This Agreement constitutes the entire agreement between the parties hereto with
respect to the subject matter hereof and supersedes all prior agreements, understandings and arrangements, both oral and written, between the parties hereto with respect to such subject matter. This
Agreement my not be modified in any way, unless by a written instrument signed by both the Company and the Executive. 

[Signatures are on the next page.]

11

 

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

GLOBALMEDIA.COM

By: 

Jeffrey Mandelbaum

Chairman and Chief Executive Officer 

EXECUTIVE:

BARR B. POTTER 

By
signing below, the undersigned acknowledges and agrees to be bound by the provisions of Section 4.4 of this Agreement (and solely those
provisions): 

MICHAEL METCALFE 

12

QuickLinks

EXECUTIVE AGREEMENT

BACKGROUND

AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]