Document:

EX-10.2

EXHIBIT 10.2

SERVICES AGREEMENT

[Michael Cohl]

This Services Agreement (this “Agreement”) is entered into this 12th day of September,
2007 (the “Effective Date”) by and among the following parties:

(1) CPI International Touring Inc. (“Touring ROW”), a Barbados IBC corporation;

(2) CPI Touring (USA), Inc. (“Touring USA”), a Delaware corporation;

(3) CPI Entertainment Content (2005), Inc. (“Grand 2005”), a Delaware corporation;

(4) CPI Entertainment Content (2006), Inc. (“Grand 2006”), a Delaware corporation;

(5) Grand Entertainment (ROW), LLC (“Grand ROW”), a Delaware limited liability
company;

(6) KSC Consulting (Barbados) Inc. (“KSC”), a Barbados corporation; and

(7) Live Nation Worldwide, Inc. (“LN”), a Delaware corporation.

Background

A. Pursuant to the terms of a Stock Purchase Agreement (the “Stock Purchase
Agreement”) dated as of the date hereof, LN has purchased of even date herewith (the
"Acquisition”) all of the equity interests in Touring ROW, Touring USA, Grand 2005, Grand
2006 and Grand ROW (herein collectively referred to as the “CPI Companies” and, together
with LN, collectively called the “Companies”) other than the equity interests in the CPI
Companies that were owned by LN prior to the completion of the Acquisition. Michael Cohl
(“Cohl”), directly or indirectly, owned an equity interest in each of the CPI Companies and
has therefore benefited substantially from the closing of the Acquisition.

B. As a condition precedent to the completion of the Acquisition, the Companies and KSC are
entering into this Agreement for the purpose of (i) setting forth the terms upon which KSC will
provide the services of Cohl to the Companies from and after the completion of the Acquisition (the
"Services Relationship”) and (ii) establishing certain non-disclosure, non-compete,
non-hire and other protective covenants for the benefit of the Companies as more fully set forth
herein.

C. KSC has the legal right and authority to commit Cohl to (i) supply and furnish his services
to the Companies upon the terms described herein and (ii) honor the non-disclosure, non-compete,
non-hire and other protective covenants set forth herein.

D. Upon the terms and provisions contained herein, (i) KSC commits to provide the services of
Cohl to the Companies, (ii) the Companies agree to engage the services of Cohl to be so supplied by
KSC, (iii) Cohl joins in the execution hereof to indicate his consent to the provisions hereof and
for the other purposes stated herein and (iv) Live Nation, Inc. (“LN Parent”), a Delaware
corporation, joins in the execution hereof for the purposes stated herein.

Agreement

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

1. TERM OF AGREEMENT.

(a) Term. Unless earlier terminated in accordance with the provisions of Section 6 hereof,
the Services Relationship starts on the Effective Date and ends on the close of business on the
fifth (5th) anniversary of the Effective Date.

(b) Definition of “Applicable Period” and “Actual Term”. As used herein, the following terms
shall have the meanings indicated below:

(i) The phrase “Applicable Period” shall mean the period commencing on the
Effective Date and ending on the ninth anniversary of the Effective Date.

(ii) The phrase “Actual Term” shall mean the period of time from the Effective
Date until the termination of the Services Relationship in accordance with the provisions of
Section 6 hereof.

2. TITLE AND DUTIES.

(a) Title and Reporting. During the Actual Term, the following provisions will apply:

(i) Cohl will serve as the most senior executive of each of the CPI Companies and shall
have the title of “Chief Executive Officer” of each of the CPI Companies. All employees of
each of the CPI Companies shall report directly to Cohl, unless otherwise directed by Cohl.
LN will have the right to dissolve any one or more of the CPI Companies and/or assign all or
any portion of the assets of the CPI Companies to other affiliates of LN, and, to the extent
LN elects to do any of the foregoing, the duties, title and reporting obligations of Cohl
hereunder shall be adjusted and rearranged as necessary to leave Cohl in substantially the
same position and with substantially the same duties and responsibilities as he possessed as
the Chief Executive Officer of the CPI Companies prior to undertaking any such changes.

(ii) Cohl will serve as the most senior executive of and Chairman of LN’s division
known as Artist Nation (the “Artist Nation Division”).

(iii) Cohl will report to LN’s Chief Executive Officer.

(b) Duties and Authority. KSC will cause Cohl to perform job duties for each CPI Company and
for the Artist Nation Division that are usual and customary for the position of Chief Executive
Officer, with respect to the CPI Companies and the Artist Nation Division, and Chairman, with
respect to the Artist Nation Division, and will perform additional services and duties that any of
the Companies may from time to time designate that are consistent with the usual and customary
duties of such positions, including, without limitation, the following:

(i) soliciting and executing global tours for major artists consistent with past
practices (the “Touring Business”); and

(ii) soliciting and acquiring artist rights which will yield additional revenue streams
to the Companies; and

(iii) overseeing and directing the operations of the Artist Nation Division.

In making the Acquisition of the CPI Companies, LN has certain expectations for the performance of
the Touring Business which are of primary importance to LN. If the Chief Executive Officer of LN
determines, at any time, that the Touring Business is not performing to the expectations
established by LN for the Touring Business, then LN and its Chief Executive Officer shall be
entitled to direct Cohl to allocate more or all of his services to improving the performance of the
Touring Business for such period of time as may be reasonably necessary for Cohl to address and
correct the deficiencies of the Touring Business.

(c) Full Time Employment. Except as permitted by the provisions of Section 5(f) hereof,
(i) Cohl will devote his full working time and efforts to the business and affairs of the Companies
throughout the Actual Term and (ii) Cohl will not, at any time during the Actual Term, become
employed by, provide consulting or any other services to or become an officer, director or general
partner of, or hold an executive or management position with, any partnership, corporation or other
entity other than Companies.

(d) Opportunities; Investments. At all times during the Actual Term, KSC covenants and agrees
(i) that Cohl shall inform the Companies of each business opportunity related to the business of
Companies, in each case, of which he becomes aware and that he believes represents a viable
prospect for the Companies, and (ii) that Cohl will not, directly or indirectly, exploit any
opportunity for his own account, nor will he render any services to any other person or business,
or acquire any interest of any type in any other business, that competes with any material business
of the Companies (or their affiliates).

(e) Allocation of Services. The provision of any services to be rendered by Cohl pursuant to
and as required by this Agreement shall be allocated as between Barbados and other jurisdictions in
a manner as Cohl and the Companies shall reasonably agree.

(f) Board Representation.

(i) Until the occurrence of a Director Severance Event (herein defined), LN Parent will
be required, subject to the fiduciary duties of the Board of Directors of LN Parent (the
“LN Board”), to comply with the following provisions:

(A) At the next regularly scheduled meeting of the LN Board after the Effective
Date, LN Parent will name Cohl as the sole Vice Chairman of the LN Board. LN Parent
will include Cohl on the slate of directors to be voted on by the shareholders of LN
Parent at each annual meeting that is being held at a time that Cohl’s then term on
the LN Board is scheduled to expire. As long as Cohl is a member of the LN Board,
he will remain as the sole Vice Chairman of the LN Board.

(B) At the next regularly scheduled meeting of the LN Board after the Effective
Date, LN Parent will elect to the LN Board a person nominated by Cohl (“Cohl’s
Nominee”); provided that the LN Board shall not be required to elect Cohl’s
Nominee at any board meeting unless (i) the name of Cohl’s Nominee has been provided
to the LN Board at least ten (10) business days prior to such meeting of the LN
Board and (ii) Cohl’s Nominee has promptly cooperated in supplying such personal
information as may be reasonably requested by the LN Board in connection with issues
related to work history, experience, conflicts of interest, securities law matters
and independence. LN Parent will include Cohl’s Nominee (or another person
nominated by Cohl at the time, who will thereafter be Cohl’s Nominee for purposes
hereof) on the slate of directors to be voted on by the shareholders of LN Parent
each time that the term on the LN Board of Cohl’s Nominee is expiring. Unless LN
Parent authorizes to the contrary, Cohl’s Nominee must always be an individual who
is, in the discretion of the LN Board, independent under LN Parent’s “Director
Independence Standards”.

LN Parent shall have no further obligation under this Section 2(f)(i) following the
occurrence of a Director Severance Event.

(ii) Cohl shall promptly file all forms with the SEC as may be required by Applicable
Law to the extent requested of Cohl by LN Parent.

(iii) As used herein, the term “Director Severance Event” shall mean the first
to occur of the following: (i) the Majority Sellers ceasing to hold in the aggregate at
least twenty-five percent (25%) of the Trust Certificates issued to them under the terms of
the Stock Purchase Agreement (or, if the Company Issuance Option has been exercised, 25% of
the underlying shares of LN Common Stock represented by such Trust Certificates), (ii) Cohl
ceasing to be an executive officer of the Companies, (iii) Cohl tendering his resignation as
a member of the LN Board, or (iv) any breach or other failure or refusal to comply with or
perform any material obligation of the Majority Sellers under the Stock Purchase Agreement
or any of the Ancillary Agreements and such breach or other failure to perform continuing
unremedied for ten (10) days after written notice thereof to the Majority Sellers.

(iv) Cohl recognizes and acknowledges that the (x) shareholders of LN Parent may or may
not vote to elect Cohl and/or Cohl’s Nominee to the LN Board and (y) any such failure or
refusal of the shareholders of LN Parent to so elect Cohl and/or Cohl’s Nominee shall not be
a breach or default of any obligation set forth in this Section 2(f) or give rise to the
right to terminate the Services Relationship with “Good Reason” for purposes of Section 6(e)
hereof.

(v) Capitalized terms used in this Section 2(f) that are not defined in this Agreement
shall have the meanings assigned thereto by the Stock Purchase Agreement.

(g) Funding Decisions. By virtue of LN’s 100% ownership interest in the CPI Companies
and in Artist Nation, LN, LN’s Chief Executive Officer and the LN Board (collectively, the
"Control Group”) will have control over, among other things, all budgets, acquisitions,
divestitures, investment, capital allocation, strategy, initiatives and similar matters with
respect to Artist Nation and the CPI Companies. Under no circumstances will any decision by the
Control Group to fund, or to refrain from funding, or to pursue, or to refrain from pursuing, any
strategy, project or initiative be considered a breach by the Companies under this Agreement or
give rise to the right to terminate the Services Relationship with “Good Reason” for purposes of
Section 6(e) hereof.

3. COMPENSATION

(a) Service Fee and Bonus Fee.

(i) The Companies will pay to KSC during the Actual Term (i) a service fee (the
“Service Fee”) of U.S. $1,500,000 per year until the first anniversary of the
Effective Date and $2,000,000 per year for the remainder of the Actual Term, which shall be
payable in equal semi-monthly installments and (ii) an annual bonus (the “Bonus
Fee”) of up to 100% of the annual Service Fee based on achieving certain division level
and company level EBITDA targets as may hereafter be reasonably established by LN in a
manner consistent with other similarly situated senior executives of LN Parent.

(ii) The annualized amount of KSC’s Service Fee shall be increased to $1,500,000
retroactively to August 1, 2007. To implement the foregoing, the Company will pay to KSC,
on the due date of the first regularly scheduled payment of the Service Fee hereunder, an
additional one-time payment equal to (A) the amount of Service Fee that would have been
payable at an annualized rate of $1,500,000 with respect to the period of time from August
1, 2007 to the Effective Date (the “Retroactive Period”) minus (B) the
amount of the Service Fee actually paid to KSC pursuant to the Prior Services Agreement with
respect to the Retroactive Period. As used herein, the “Prior Services Agreement” means
that certain Services Agreement dated May 26, 2006 and entered into by and among the CPI
Companies and KSC.

(iii) The payment of the Service Fee and the Bonus Fee shall be the joint and several
obligation of the Companies, and the Companies will allocate the responsibility of such
payment among themselves as they may mutually agree from time to time based upon the
relative amount of services provided hereunder by Cohl to each Company.

(iv) The amount of the Service Fee may be additionally increased, from time to time
during the Actual Term, upon approval of the LN Board without a formal amendment hereto.

(b) LN Stock Options. Cohl will be eligible to receive, in consideration for the services
rendered hereunder, annual stock option awards to purchase shares of common stock of LN Parent in
such amounts as may be recommended by LN’s Chief Executive Officer and approved by the LN Board
and/or its Compensation Committee in their sole discretion. The method used for determining the
amount of any stock option awards pursuant to this Section 3(b) shall be made on a basis reasonably
comparable to the basis used for such determination with respect to similarly situated senior
executives of LN Parent.

(c) Benefits Reimbursement. The Companies will reimburse on a monthly basis to KSC such
amounts (the “Benefits Reimbursement Amount”) as are actually incurred by KSC in providing
to Cohl from and after the Effective Date an employee benefits package comparable to the employee
benefit package offered to senior executives of LN (“Applicable Benefits Package”);
provided, however, the Benefits Reimbursement Amount shall in no event exceed the cost then
incurred by LN to supply the Applicable Benefits Package to its senior executives who are U.S.
resident employees.

(d) Expenses. The Companies will pay or reimburse to KSC all normal and reasonable travel and
entertainment expenses incurred during the Actual Term by KSC or Cohl in connection with the
provision of Cohl’s services under this Agreement upon submission of proper vouchers in accordance
with the expense reimbursement policy of the Companies.

4. NONDISCLOSURE OF CONFIDENTIAL INFORMATION.

During the Actual Term, the Companies (or their respective affiliates) will provide KSC and
Cohl with access to certain confidential information, trade secrets, and other matters which are of
a confidential or proprietary nature, including but not limited to the customer lists, pricing
information, production and cost data, compensation and fee information, strategic business plans,
budgets, financial statements, and other information that the Companies, their respective
subsidiaries, LN and LN’s affiliates (collectively, the “Company Group”) treat as
confidential or proprietary (collectively the “Confidential Information”). The Company
Group provides and shall provide on an ongoing basis such Confidential Information which is
reasonably necessary or desirable to aid KSC and Cohl in the delivery of the services contemplated
hereunder. KSC understands and acknowledges that such Confidential Information is confidential and
proprietary, and agrees that neither KSC nor Cohl shall disclose such Confidential Information to
anyone outside the Company Group except to the extent that (i) KSC or Cohl deems such disclosure or
use reasonably necessary or appropriate in connection with performing services on behalf of the
Companies in a manner consistent with the provisions and requirements hereof; (ii) KSC or Cohl is
required by order of a court of competent jurisdiction (by subpoena or similar process) to disclose
or discuss any Confidential Information, provided that in such case, KSC or Cohl, as applicable,
shall promptly inform LN of such event, shall cooperate with the Company Group in attempting to
obtain a protective order or to otherwise restrict such disclosure, and shall only disclose
Confidential Information to the minimum extent necessary to comply with any such court order;
(iii) such Confidential Information becomes generally known to and available for use in the
industries in which the Companies do business, other than as a result of any action or inaction by
KSC or Cohl; or (iv) the Confidential Information is furnished or disclosed to KSC or Cohl by a
third party who came by it rightfully and is under no obligation of confidence to any of the
Company Group. At the end of the Actual Term, KSC shall, and will cause Cohl to, immediately turn
over to the Companies all Confidential Information, including papers, documents, writings,
electronically stored information, other property, and all copies of them. This nondisclosure
covenant is binding on KSC and Cohl, as well as their respective heirs, successors, legal
representatives and assigns, and will survive the termination of the Services Relationship.

5. PROTECTIVE COVENANTS.

To further preserve the rights of the Companies pursuant to the nondisclosure covenant set
forth in Section 4 above, and for the consideration promised by the Companies under this Agreement
and for the further consideration being received of even date herewith, directly or indirectly, by
Cohl pursuant to the terms of the Stock Purchase Agreement, and as a necessary and express
condition precedent to the closing of the Acquisition, KSC and Cohl commit and agree with the
Companies and with LN as follows:

(a) Non-Compete Covenant. KSC and Cohl (collectively, the “Restricted Parties”)
covenant and agree that they will not, directly or indirectly, at any time during the Applicable
Period (i) carry on, operate, manage, control, or become interested in or involved with, in any
manner, as an owner, director, principal, agent, officer, employee, partner, consultant, servant,
lender or otherwise, any of the Restricted Activities anywhere in the world or (ii) undertake any
planning, development or preparatory activities in anticipation of the pursuit of any Restricted
Activities anywhere in the world. As used herein, the term “Restricted Activities” shall
mean and include each and all of the following businesses, operations, activities and undertakings:

(i) All of the businesses, operations, activities and undertakings that are actually
engaged in as of the date of this Agreement by LN, any of LN’s affiliates or any of the CPI
Companies (collectively, the “LN Affiliated Group”);

(ii) All of the businesses, operations, activities and undertakings that are proposed,
as of the date of this Agreement, to be engaged in by any member of the LN Affiliated Group
but only if Cohl is informed about such proposed businesses, operations, activities or
undertakings;

(iii) Any other Applicable Entertainment Businesses that are actually engaged in during
the Applicable Period by any member of the LN Affiliated Group; and

(iv) Any other Applicable Entertainment Businesses that are proposed, prior to Cohl
ceasing to be a director and an executive officer of the Companies, to be engaged in by any
member of the LN Affiliated Group but only if Cohl is informed about such proposed
Applicable Entertainment Business.

As used above, the term “Applicable Entertainment Businesses” shall mean any and all types of
entertainment businesses and other businesses that relate to or provide services to one or more
entertainment businesses, including, without limitation, (i) ticketing businesses, (ii) software
businesses related to ticketing, (iii) financing of artist shows, (iv) design, manufacturing and
distribution of artist merchandise and (v) managing careers of artists.

(b) Additional Agreements relating to the Non-Compete Covenant. The covenants and agreements
undertaken by the Restricted Parties in Section 5(a) are herein collectively referred to as the
“Non-Compete Covenant” and shall be subject to and modified by the following provisions:

(i) The Restricted Parties represent, acknowledge and agree that the most significant
assets of the CPI Companies are certain personal relationships, goodwill, trade secrets and
the Confidential Information (collectively, the “Trade Secrets”) that relate to and
are crucial in obtaining (i) the rights to produce world-wide concert tours in the future
from major world-renowned musical artists and entertainers and (ii) other material rights
and benefits that will be derived from those touring relationships with major world-renowned
musical artists and entertainers.

(ii) The Restricted Parties represent, acknowledge and agree that the CPI Companies are
currently engaged, have historically been engaged and will hereafter continue to engage, in
Restricted Activities throughout all parts of the world and that in order to protect the
value of the Trade Secrets, the Non-Compete Covenant must restrict the undertaking of the
Restricted Activities on a world-wide basis.

(iii) The Restricted Parties represent, acknowledge and agree that any violation or
breach of the Non-Compete Covenant will cause irreparable damage to the Companies and their
affiliates, and upon violation or breach of any provision of the Non-Compete Covenant, the
Companies shall be entitled to injunctive relief, specific performance, or other equitable
relief against the appropriate party; provided, however, that this shall in no way limit any
other remedies which the Companies may have (including, without limitation, the right to
seek actual monetary damages).

(iv) The Restricted Parties agree that the Applicable Period shall be extended and
tolled on a day-to-day basis for all periods during which one more of the Restricted Parties
is in violation or breach of the Non-Compete Covenant during the Applicable Period. This
provision is in addition to all other rights and remedies available to the Companies at law,
in equity or pursuant to this Agreement.

(v) The Restricted Parties hereby grant, convey, assign, set over and transfer, into
trust, for the sole and exclusive benefit of the Companies, all property, assets, proceeds,
revenues, profits, income, receipts and other monies (“Trust Property”) that may be
hereafter received or be receivable by either of the Restricted Parties or any affiliate of
the Restricted Parties that relate to, are derived from or arise out of any music concert
promotion activity that is a violation of the Non-Compete Covenant. The Restricted Parties
hereby expressly direct and authorize, on behalf of themselves and on behalf of all
affiliates of the Restricted Parties, any and all third parties (including, without
limitation, ticketing companies, venues, wholesalers, distributors, artist agencies and
artist management) that may ever be in possession of any Trust Property to deliver and pay
over the Trust Property to the Companies upon the demand of any Company, and each of the
Restricted Parties shall indemnify, defend and hold harmless any such third party that
hereafter delivers and pays any Trust Property to the Companies from and against any and all
claims, demands, liabilities, losses or obligations arising out of or relating to such
payment of the Trust Property to the Companies.

(c) Other Covenants. In order to allow the Companies to protect the Trade Secrets, the
Restricted Parties, jointly and severally, covenant and agree that they will not, directly or
indirectly, at any time during the Applicable Period (i) hire any employee of the Company Group or
any person that was employed by the Company Group within six months immediately preceding such
hiring; (ii) solicit or encourage any employee of the Company Group to terminate their employment
with the Company Group; (iii) solicit or encourage any employee of the Company Group or any person
that was employed by the Company Group within the six months immediately preceding such
solicitation or encouragement to accept employment with any business, operation, corporation,
partnership, association, agency, or other person or entity with which any Restricted Party may be
associated in any capacity; (iv) request, solicit or procure any present or future customer or
supplier of the Company Group to curtail or cancel its business with the Company Group or (v)
solicit or encourage any of the global touring artists that have previously used the touring or
promotion services of any of the Companies (or their respective affiliates) to select or hire
another promoter to provide touring or promotion services for a future tour (including, without
limitation, U2, Madonna, Barbra Streisand and the Rolling Stones).

(d) Reasonableness of Restrictions; Authorization to Modify. The Restricted Parties
represent, acknowledge and agree that the Non-Compete Covenant and the other covenants in clause
(c) (collectively, the “Restrictive Covenants”) are reasonable in scope and duration and
are necessary to protect the Trade Secrets. If any provision of the Restrictive Covenants as
applied to any party or to any circumstance is adjudged by a court or other tribunal to be invalid
or unenforceable, the same will in no way affect any other circumstance or the validity or
enforceability of the Restrictive Covenants. If any such provision, or any part thereof, is held
to be unenforceable because of the scope, duration, or geographic area covered thereby, the
Restricted Parties and the Companies agree that the court or other tribunal making such
determination shall have the power to reduce the scope and/or duration and/or geographic area of
such provision, and/or to delete specific words or phrases, and in its reduced form, such provision
shall then be enforceable and shall be enforced.

(e) Material Reliance. The Restricted Parties represent, acknowledge and agree that the
provisions of this Section 5 are material provisions of this Agreement and that the Companies would
not have entered into this Agreement but for these provisions.

(f) Exceptions to Restrictive Covenants. Notwithstanding any provision to the contrary
contained in this Section 5, Cohl will have the right, in his sole and absolute discretion, to
render services to the Rolling Stones (“R/S Services”) at any time during the Applicable
Period for his own account on and subject to the following terms, conditions and provisions:

(i) KSC must provide, or cause Cohl to provide, prior written notice to the Companies
setting forth (x) a reasonably detailed description of the R/S Services that will be
rendered to the Rolling Stones and (y) a detailed summary of all compensation to be received
by Cohl, directly or indirectly, in connection with, arising out of or relating to such R/S
Services;

(ii) Cohl’s business time and effort devoted to R/S Services shall not materially
interfere with his obligations under this Agreement (including his required time and
attention pursuant to Section 2(c) hereof) and, in any event, shall not exceed eight hours
per week on average.

Notwithstanding the foregoing, it is expressly acknowledged and agreed by KSC, for itself and on
behalf of Cohl, that R/S Services shall be limited to the provision of management, consulting or
similar services for a fee only and shall not include any type of arrangement that would be
comparable to, or otherwise constitute, the acquisition of rights from the Rolling Stones to
promote a tour of musical events or otherwise own, pursue or exploit the grant of any rights from
the Rolling Stones. If Cohl should exercise his right to provide R/S Services pursuant to this
Section 5(f), then his obligation to provide full-time services under Section 2(c) hereof shall be
reduced by the actual amount of time spent by Cohl in performing the R/S Services up to eight hours
per week on average.

6. TERMINATION.

The Services Relationship shall be terminated only in accordance with and pursuant to the
following provisions:

(a) Cohl’s Death. This Services Relationship shall terminate upon the occurrence of Cohl’s
death without any action or notice by any party hereto.

(b) Cohl’s Disability. The Companies may terminate the Services Relationship if, as a result
of Cohl’s incapacity due to physical or mental illness, Cohl is unable to perform the services
required to be provided by him under this Agreement for more than 180 days in any 12 month period.

(c) Termination by the Companies with Cause. The Companies may terminate the Services
Relationship for Cause by notice to KSC. A termination for Cause must be for one or more of the
following reasons: (i) continued, willful and deliberate non-performance by Cohl of his services
to be provided hereunder (other than by reason of Cohl’s physical or mental illness, incapacity or
disability) if such non-performance has continued for more than 10 days following written notice of
such non-performance; (ii) Cohl’s refusal or failure to follow lawful directives of LN’s Chief
Executive Officer if such refusal or failure has continued for more than 10 days following written
notice of such refusal or failure; (iii) a criminal conviction of Cohl that has resulted in, or
would result in if he were retained in his position with the Companies, material injury to the
reputation of the Companies (or their affiliates), including, without limitation, conviction of
fraud, theft, embezzlement, or a crime involving moral turpitude; (iv) a material breach by KSC or
Cohl of any of the covenants set forth in this Agreement and such material breach has continued for
more than 10 days following written notice of such material breach; or (v) a material violation by
Cohl of any policies of the Companies if such violation has continued for more than 10 days
following written notice of such violation.

(d) Termination by the Companies without Cause. The Companies may terminate the Services
Relationship without Cause upon 30 days written notice to KSC.

(e) Termination By KSC for Good Reason. KSC may terminate the Services Relationship with Good
Reason by notice to the Companies. A termination for Good Reason means a termination by KSC for
one or more of the following reasons: (i) a material breach of this Agreement by the Companies and
such material breach remaining uncured and uncorrected for more than 10 days following written
notice of such material breach given to LN; (ii) a material diminution in the duties, authority, or
responsibilities delegated to Cohl pursuant to this Agreement if such diminution has continued for
more than 10 days following written notice thereof; or (iii) a requirement that Cohl provide his
services under this Agreement from a location other than Barbados (excluding reasonable travel for
specific matters related to the business of the Companies or the requirement that he spend a
reasonable number of days each year in Florida as may be necessary to supervise the CPI Companies’
employees who office in Florida).

(f) Termination on Fifth Anniversary of Effective Date. The Services Relationship shall
terminate on the fifth (5th) anniversary of the Effective Date without any action or notice
required by any party hereto.

(g) Survival of Certain Provisions. Notwithstanding any termination of the Services
Relationship pursuant to this Section 6, the provisions of Sections 4, 5, 7, 8, 9, 10, 11, 12, 13,
14, 15, 16, 17, 18 and 19 of this Agreement will survive such termination.

7. COMPENSATION UPON TERMINATION.

(a) Cohl’s Death. If the Services Relationship is terminated pursuant to Section 6(a) hereof
by reason of Cohl’s death, the Companies will, within 30 days, pay in a lump sum amount to KSC any
accrued and unpaid Service Fee, Bonus Fee and Benefits Reimbursement Amount through the date of
such termination.

(b) Cohl’s Disability. If the Services Relationship is terminated pursuant to Section 6(b)
hereof by reason of Cohl’s disability, the Companies will, within 30 days, pay in a lump sum amount
to KSC any accrued and unpaid Service Fee, Bonus Fee and Benefits Reimbursement Amount through the
date of such termination.

(c) Termination By The Companies For Cause. If the Services Relationship is terminated by the
Company for Cause pursuant to Section 6(c) hereof, the Companies will, within 30 days, pay in a
lump sum amount to KSC any accrued and unpaid Service Fee, Bonus Fee and Benefits Reimbursement
Amount through the date of such termination.

(d) Termination By The Companies Without Cause. If the Services Relationship is terminated by
the Companies without Cause pursuant to Section 6(d) hereof, then

(i) provided that (i) Cohl has resigned as a member of the LN Board if requested by LN
and (ii) KSC and Cohl have signed a general release of claims in a form reasonably
satisfactory to LN, the Companies will pay, within 30 days, a lump sum amount equal to three
times the annual amount of the Service Fee then in effect hereunder; and

(ii) within thirty (30) days of the date of termination, the Companies will also pay to
KSC any accrued and unpaid Service Fee, Bonus Fee and Benefits Reimbursement Amount through
the date of such termination.

(e) Termination By KSC With Good Reason. If the Services Relationship is terminated by KSC
with Good Reason pursuant to Section 6(e) hereof, then

(i) provided that (i) Cohl has resigned as a member of the LN Board if requested by LN
and (ii) KSC and Cohl have signed a general release of claims in a form reasonably
satisfactory to LN, the Companies will pay, within 30 days, a lump sum amount equal to three
times the annual amount of the Service Fee then in effect hereunder; and

(ii) within thirty (30) days of the date of termination, the Companies will also pay to
KSC any accrued and unpaid Service Fee, Bonus Fee and Benefits Reimbursement Amount through
the date of such termination.

(f) Termination on the Fifth Anniversary of the Effective Date. If Services Relationship is
terminated pursuant to Section 6(g) hereof on the fifth (5th) anniversary of the Effective Date,
the Companies will, within 30 days, pay in a lump sum amount to KSC any accrued and unpaid Service
Fee, Bonus Fee and Benefits Reimbursement Amount through the date of such termination.

(g) Expense Reimbursement Amount. If the Services Relationship is terminated for any reason,
the Companies will, within 30 days, reimburse in a lump sum amount to KSC any expense amounts to
which it is entitled under Section 3(d) hereof.

(h) Effect Of Compliance With Compensation Upon Termination Provisions. Upon complying with
Sections 7(a) through 7(g) above, as applicable, the Companies will have no further obligations to
KSC or Cohl hereunder, except pursuant to (i) the provisions hereof which survive termination as
provided by Section 6(h) hereof and (ii) any formal corporate policy of the Companies that may be
adopted to make a payment to deceased or disabled employees.

8. PARTIES BENEFITED; ASSIGNMENTS.

This Agreement shall be binding upon (i) KSC and Cohl, and their respective successors,
assigns, heirs and personal representatives and (ii) the Companies and their respective successors
and assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by
(i) the Companies, except to an affiliate of LN, without the prior written consent of KSC or (ii)
KSC or Cohl without the prior written consent of the Companies.

9. NOTICES.

Any notice provided for in this Agreement will be in writing and will be deemed to have been
given when delivered by recognized overnight courier service (such as UPS, DHL or FedEx). If to
the Companies, the notice will be sent to Michael Rapino, Live Nation, Inc., 9348 Civic Center
Drive, 4th Floor, Beverly Hills, CA 90210 and a copy of the notice will be sent to Michael Rowles,
Live Nation, Inc., 9348 Civic Center Drive, 4th Floor, Beverly Hills, CA 90210. If to KSC or Cohl,
the notice will be sent to 28 Pine Road, Palm Court, Bellville, St. Michael, Barbados and a copy of
the notice will be sent to (i) Kaye Scholer LLP, 425 Park Avenue, New York, New York 10022
Attention: Emanuel S. Cherney and (ii) Kaye Scholer LLP, 425 Park Avenue, New York, New York
10022 Attention: Gary J. Gartner. Such notices may alternatively be sent to such other address as
any party may have furnished to the other in writing in accordance with this Agreement, except that
notices of change of address shall be effective only upon receipt.

10. GOVERNING LAW AND EXCLUSIVE JURISDICTION.

This Agreement shall be governed by and construed in accordance with the internal laws of the
State of Florida without giving effect to any choice of law or conflict provisions or rule (whether
of the State of Florida or any jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Florida. Each party to this Agreement (A) hereby submits to
the exclusive jurisdiction of the state courts located in Miami, Florida and the federal court for
the Southern District of Florida with respect to all actions brought under this Agreement and
(B) hereby irrevocably agrees that (i) all claims in respect of such action or proceeding may be
heard and determined in such courts and (ii) no such claim may be filed or pursued in any other
court or forum anywhere in the world. Each party to this Agreement hereby irrevocably waives, to
the fullest extent it may effectively do so, the defense of an inconvenient forum to the
maintenance of such action or proceeding. Each party to this Agreement represents, warrants and
agrees that the business operations and offices of certain of the Companies in Florida provides a
significant and material nexus to the State of Florida. EACH PARTY HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
ARISING UNDER OR RELATING TO THIS AGREEMENT.

11. LITIGATION AND REGULATORY COOPERATION.

During and after the Actual Term, KSC will cause Cohl to reasonably cooperate with the
Companies (and their affiliates) in the defense or prosecution of any claims or actions now in
existence or which may be brought in the future against or on behalf of any one or more of the
Companies (or their affiliates) which relate to events or occurrences that transpired while Cohl
was providing services hereunder. Cohl’s cooperation in connection with such claims or actions
shall include, but not be limited to, being available to meet with counsel to prepare for discovery
or trial and to act as a witness on behalf of the Companies at mutually convenient times. During
and after the Actual Term, Cohl also shall cooperate reasonably with the Companies in connection
with any investigation or review of any regulatory authority as any such investigation or review
relates to events or occurrences that transpired while Cohl was providing services hereunder. The
Companies will pay KSC on an hourly basis (to be derived from amount of the Service Fee) for
litigation and regulatory cooperation provided by Cohl that occurs after the Actual Term, and
reimburse KSC for all costs and expenses incurred in connection with Cohl’s performance under this
Section 11, including, but not limited to, reasonable attorneys’ fees and costs.

12. INDEMNIFICATION AND INSURANCE; LEGAL EXPENSES.

(a) The Companies shall indemnify Cohl and KSC to the fullest extent permitted by law, in
effect at the time of the subject act or omission, and shall advance to Cohl and/or KSC (as the
case may be) reasonable attorneys’ fees and expenses as such fees and expenses are incurred
(subject to an undertaking from Cohl or KSC (as the case may be) to repay such advances if it shall
be finally determined by a judicial decision which is not subject to further appeal that Cohl or
KSC was not entitled to the reimbursement of such fees and expenses), against all costs, charges
and expenses (including reasonable attorney’s fees, whether incurred in an action between a Company
and either Cohl or KSC, Cohl or KSC and a third party or otherwise) incurred or sustained by him or
it in connection with any action, suit or proceeding to which he or it may be made a party by
reason of his or its being or having been a director, officer, employee, agent or consultant of the
Companies or any of its subsidiaries, or his serving or having served any other enterprise as a
director, officer, employee, agent or consultant at the request of any of the Companies (other than
any dispute, claim or controversy arising under or relating to this Agreement).

(b) LN Parent will at all times maintain directors’ and officers’ liability insurance in type,
scope and amount comparable to that maintained by similarly situated companies.

13. DISPUTE RESOLUTION. Any dispute, difference or question (“Dispute”) between KSC and
Cohl, on the one hand, and the Companies or LN, on the other hand (“Disputing Parties”),
shall be resolved in accordance with the following dispute resolution procedures:

(a) Good Faith Negotiations. The Disputing Parties shall endeavor, in good faith, to resolve
the Dispute through negotiations. If the Disputing Parties fail to resolve the Dispute within a
reasonable time not to exceed 30 days, each Disputing Party shall nominate a senior officer or
officers of its management to meet at any mutually agreed location to resolve the Dispute.

(b) Mediation. In the event that the negotiations do not result in a mutually acceptable
resolution, either Disputing Party may require that the Dispute shall be referred to mediation in
Miami, Florida. One mediator shall be appointed by the agreement of the Disputing Parties. The
mediator shall be a suitably qualified person having no direct or personal interest in the outcome
of the Dispute. Mediation shall be held within thirty (30) days of a written request for
mediation. In the event the Disputing Parties are unable to agree on a mediator, the Disputing
Parties agree to the appointment of a mediator pursuant to the Commercial Mediation Rules of the
American Arbitration Association. In the event the Disputing Parties are unsuccessful in their
mediation of the Dispute, or if there is any Dispute about the scope of or the compliance by any
Party with the provisions of Section 13, either Disputing Party may require that the Dispute be
settled in accordance with the provisions of Section 10.

14. REPRESENTATIONS AND WARRANTIES OF KSC. KSC hereby represents and warrants to the Companies as
follows:

(a) KSC is a corporation duly organized, validly existing and in good standing under the laws
of Barbados.

(b) KSC has the corporate power and authority to enter into this Agreement and to perform its
obligations hereunder.

(c) The execution, delivery and performance of this Agreement by KSC has been duly authorized
by all requisite corporate action on the part of KSC and its shareholders and directors.

(d) This Agreement has been duly executed and delivered by KSC and Cohl and constitutes a
legal, valid and binding obligation of KSC and Cohl, enforceable against KSC and Cohl in accordance
with its terms, except as may be limited by a bankruptcy, insolvency or other similar laws
affecting creditors’ rights generally and by general equity principles.

(e) The execution, delivery and performance of this Agreement by KSC and Cohl and their
consummation of the transactions contemplated by this Agreement will not violate (with or without
the giving of notice or the lapse of time, or both), or require any consent, approval, filing or
notice under any provision of any law, rule or regulation, court order, judgment or decree
applicable to KSC or Cohl.

(f) The execution, delivery and performance of this Agreement by KSC and Cohl and their
consummation of the transactions contemplated by this Assignment will not conflict with, result in
the breach or termination of any provision of, or constitute a default under any agreement or
instrument to which KSC or Cohl is a party or by which KSC or Cohl or any of their respective
assets or properties is bound or affected.

(g) KSC has the express contractual right to bind Cohl to the terms and provisions hereof and
to provide the services of Cohl hereunder.

(h) Cohl is under no contractual or other restriction which is inconsistent with the execution
of this Agreement, the performance of his duties hereunder or the other rights of Companies
hereunder.

(i) Cohl is under no physical or mental disability that would hinder the performance of his
duties under this Agreement.

15. REPRESENTATIONS AND WARRANTIES OF THE COMPANIES. The Companies hereby represent and warrant to
KSC as follows:

(a) Each Company is a corporation or limited liability company duly organized, validly
existing and in good standing under the laws of the jurisdiction of its formation.

(b) Each Company has the corporate or partnership, as applicable, power and authority to enter
into this Agreement and to perform their respective obligations hereunder.

(c) The execution, delivery and performance of this Agreement by the Companies have been duly
authorized by all requisite corporate or partnership, as applicable, action on the part of each
Company and its respective shareholders, directors or partners.

(d) This Agreement has been duly executed and delivered by each of the Companies and
constitutes a legal, valid and binding obligation of each Company and LN, enforceable against each
Company in accordance with its terms, except as may be limited by a bankruptcy, insolvency or other
similar laws affecting creditors’ rights generally and by general equity principles.

(e) The execution, delivery and performance of this Agreement by each Company and its
consummation of the transactions contemplated by this Agreement will not violate (with or without
the giving of notice or the lapse of time, or both), or require any consent, approval, filing or
notice under any provision of any law, rule or regulation, court order, judgment or decree
applicable to any of the Companies.

(f) The execution, delivery and performance of this Agreement by the Companies and their
consummation of the transactions contemplated by this Agreement will not conflict with, result in
the breach or termination of any provision of, or constitute a default under any agreement or
instrument to which any Company is a party or by which any Company or any of their respective
assets or properties is bound or affected.

16. TAX MATTERS.

(a) The Companies may, if required in accordance with applicable law, deduct, or cause to be
deducted, from the Service Fee and all other cash amounts payable by the Companies under the
provisions of this Agreement to KSC, all taxes and other charges and deductions which now or
hereafter are required by law to be so deducted. KSC acknowledges that the Company’s determination
regarding its withholding or tax reporting obligations shall not constitute a breach of this
Agreement.

(b) KSC shall reimburse, indemnify, defend and hold the Companies and its subsidiaries,
affiliates, owners and the affiliates of its owners harmless from and against any and all damages,
losses, deficiencies, liabilities, costs, expenses, fines and penalties which may be imposed by any
governmental authority or agency which results from any Company’s failure to make tax withholdings
from any payments being made hereunder.

17. INTERPRETATION AND MISCELLANEOUS.

(a) This Agreement contains the entire agreement of the parties relating to the subject matter
hereof. This Agreement supersedes any prior written or oral agreements or understandings between
the parties relating to the subject matter hereof, including, without limitation, the Prior
Services Agreement. No modification or amendment of this Agreement shall be valid unless in
writing and signed by or on behalf of the parties hereto. The failure of a party to require
performance of any provision of this Agreement shall in no manner affect the right of such party at
a later time to enforce any provision of this Agreement. A waiver of the breach of any term or
condition of this Agreement shall not be deemed to constitute a waiver of any subsequent breach of
the same or any other term or condition. This Agreement is intended to be performed in accordance
with, and only to the extent permitted by, all applicable laws, ordinances, rules and regulations.
If any provision of this Agreement, or the application thereof to any person or circumstance,
shall, for any reason and to any extent, be held invalid or unenforceable, such invalidity and
unenforceability shall not affect the remaining provisions hereof or the application of such
provisions to other persons or circumstances, all of which shall be enforced to the greatest extent
permitted by law. The headings in this Agreement are inserted for convenience of reference only
and shall not be a part of or control or affect the meaning of any provision hereof.

(b) When used herein, “affiliate” means, with respect to any person or entity, any other
person or entity that, directly or indirectly, through one or more intermediaries, controls, is
controlled by, or is under common control with, such person or entity.

(c) Whenever herein the singular number is used, the same shall include the plural where
appropriate, and words of any gender shall include each other gender where appropriate. Unless
otherwise expressly provided, the words “include”, “includes” and
"including” do not limit the preceding words or terms and shall be deemed to be followed by
the words “without limitation”.

18. PUBLIC ANNOUNCEMENTS.

(a) Except as may be required by applicable law, neither KSC nor Cohl shall issue any press
release or otherwise make any public statements or filings with respect to this Agreement or the
transactions contemplated hereby without the prior written consent of LN.

(b) Except as may be required by applicable law or as may be required to satisfy the rules of
any listing exchange upon which the common stock of LN’s parent is listed, none of the Companies or
any of their respective Affiliates will issue a separate stand-alone press release or public
announcement that describes the terms of this Agreement unless Cohl has reviewed and approved such
stand-alone press release or public announcement (such approval not to be unreasonably withheld or
delayed). The Companies and their respective Affiliates shall not be otherwise restricted or
constrained in any public statement concerning the provisions of this Agreement that is made as a
part of an earnings release, investor call or other similar communication that includes disclosures
or discussions about matters other than the transaction contemplated hereby.

19. JOINDER BY COHL. Cohl joins in the execution of this Agreement to confirm the following
agreements and covenants:

(a) Cohl agrees that should KSC default hereunder, then Cohl will perform all such defaulted
obligations of KSC set forth herein immediately upon demand.

(b) Cohl confirms and restates the representations and warranties made by KSC in Section 14
hereof.

(c) Cohl agrees that he will be bound by and comply with those restrictions, covenants and
other agreement set forth herein that apply to or purport to apply to Cohl, including, but not
limited to, the restrictions and obligations set forth in Section 5 hereof.

(d) Cohl represents and warrants to LN that Cohl is the sole shareholder and a director of
KSC.

(e) Cohl authorizes LN to purchase one or more policies of life insurance on the life of Cohl
for the sole and exclusive benefit of LN. Cohl covenants and agrees with LN that he will cooperate
and assist LN, as may be requested by LN, in connection with the application for, and procurement
and maintenance of, any such life insurance policy, including (i) submitting to physical
examinations by qualified physicians, (ii) providing health records and other relevant personal
information and (iii) completing and signing applications and certifications related to Cohl’s
personal information and health history. Cohl and/or KSC shall have the express right to work with
the insurer to obtain additional life insurance in tandem with the policies of life insurance for
the benefit of LN; provided that such additional life insurance does not have the effect of
reducing the amount of life insurance available to LN.

20. Joinder by LN Parent. LN Parent joins in the execution hereof in order to guarantee
the performance of the following obligations undertaken by LN pursuant to this Agreement that must
be performed or done by LN Parent:

(a) The provisions of Section 2(f) hereof relating to the LN Board; and

(b) The provisions of Section 3(b) hereof relating to the issuance of options to purchase
shares of common stock in LN Parent.

[The remainder of this page is intentionally blank.]

1

IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreement as of
the date first written above.

CPI International Touring Inc., a Barbados IBC
corporation

By: /s/ John H. Perkins, Director

	 	 	CPI Touring (USA), Inc., a Delaware corporation

By: /s/ Gary Moss, COO

	 	 	CPI Entertainment Content (2005), Inc., a Delaware
	 
	 	 	corporation

By: /s/ Gary Moss, COO

	 	 	CPI Entertainment Content (2006), Inc., a Delaware
	 
	 	 	corporation

By: /s/ Gary Moss, COO

	 	 	Grand Entertainment (ROW), LLC, a Delaware limited
	 
	 	 	liability company

By: /s/ Gary Moss, COO

	 	 	KSC Consulting (Barbados) Inc., a Barbados
	 
	 	 	corporation

By: /s/ Michael Cohl, Director

	 	 	Live Nation Worldwide, Inc., a Delaware corporation

By: /s/ Michael Rowles, EVP and GC

Michael Cohl joins in the execution of this Agreement solely for the purposes stated in Section 19
hereof.

By: /s/ Michael Cohl

Live Nation, Inc., joins in the execution of this Agreement solely for the purposes stated in

Section 20 hereof.

By: /s/ Michael Rowles, EVP and GC

2EX-10.3

EXHIBIT 10.3

TRUST AGREEMENT

This Trust Agreement dated this 12th day of September, 2007 (the “Trust Agreement”),
is entered into by and among (i) Live Nation, Inc., a Delaware corporation (“Buyer
Parent”), (ii) Samco Investments Ltd., a Turks and Caicos company (“Samco”) and Michael
Cohl (“Cohl”, and together with Samco, the “Majority Sellers”) (Buyer Parent and
the Majority Sellers collectively, the “Parties,” and individually, a “Party”) and
(iii) Wells Fargo Bank, National Association (“Trustee”).

RECITALS

A. Simultaneously with the execution of this Trust Agreement, the Parties, together with
certain other contracting parties, have executed and entered into (i) that certain Stock Purchase
Agreement (the “Stock Purchase Agreement”) and (ii) that certain Lockup and Registration
Rights Agreement (the “Lockup Agreement”).

B. Pursuant to Section 2.2(b) of the Stock Purchase Agreement, the Buyer Parent shall deliver
to the Trustee 5,414,635 shares (the “Trust Shares”) of common stock of Buyer Parent, par
value $0.01 per share, in satisfaction of the consideration for the purchase of certain securities
from the Majority Sellers as more fully set forth in the Stock Purchase Agreement.

C. Trustee agrees to hold, sell and distribute proceeds of the Trust Shares on and subject to
the terms of this Trust Agreement.

In consideration of the promises and agreements of the Parties and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties and the
Trustee agree as follows:

ARTICLE 1

TRUST

Section 1.1. Appointment of Trustee. The Parties hereby appoint the Trustee as the
trustee to hold the Trust Shares in accordance with the terms, conditions and provisions of this
Trust Agreement, and the Trustee hereby accepts such appointment subject to the terms, conditions
and provisions of this Trust Agreement.

Section 1.2. Receipt of Trust Shares. Upon execution hereof, Buyer Parent shall issue
the Trust Shares to the Trustee in the manner required by, and in accordance with the terms of, the
provisions of the Stock Purchase Agreement. Notwithstanding the foregoing, the Trustee shall not
be required to review, interpret or understand the provisions of the Stock Purchase Agreement
concerning the issuance of the Trust Shares as described herein but may rely solely upon the
delivery of the Trust Shares by the Buyer Parent as conclusive evidence that such Trust Shares have
been issued in the manner required by, and in accordance with the terms of, the provisions of the
Stock Purchase Agreement.

Section 1.3. Trust Certificates. Upon execution hereof, the Trustee shall issue to
each Majority Seller a Trust Certificate in the form of Exhibit A hereto evidencing a right to
receive the net proceeds from the sale of the following number of Trust Shares allocated to each
Majority Seller:

	 	 	 	 	 
	Majority Seller
	 	Number of Trust Shares
	 
	 	 	 	 
	Samco
	 	 	4,829,269	 
	Cohl
	 	 	585,366	 

As used herein, the term “Allocated Shares” shall mean, with respect to a Majority Seller,
the Trust Shares that are allocated to such Majority Seller in accordance with the foregoing terms.
A Majority Seller’s number of Allocated Shares shall be reduced to the extent that such Majority
Seller’s Allocated Shares are sold and the proceeds thereof are distributed to such Majority Seller
in accordance with the terms of Section 1.4 hereof. Each Majority Seller is entitled to only those
rights in respect of such Majority Seller’s Allocated Shares as are specifically set forth in this
Trust Agreement and not otherwise. The Trustee shall have no obligation to ensure compliance with
any federal or state securities or tax laws in issuing the Trust Certificates described in this
Section 1.3, and makes no representations or warranties whatsoever with respect to the value,
validity or enforceability of the Trust Certificates.

Section 1.4. Sale of Trust Shares.

(a) General Provision. Subject to the limitations and restrictions on the sale of the
Trust Shares as set forth in the Lock Up Agreement, each Majority Seller shall have the express
right and authority to require the Trustee to (i) sell all or any portion of the Allocated Shares
of such Majority Seller in accordance with and pursuant to the terms of this Trust Agreement and
(ii) distribute the net proceeds of any such sale to such Majority Seller in accordance with and
pursuant to the terms of this Trust Agreement. Notwithstanding the foregoing, the Trustee shall
not be required to review, interpret or understand the limitations and restrictions on the sale of
the Trust Shares as set forth in the Lock Up Agreement but may solely rely upon the terms and
provisions set forth in this Trust Agreement in determining whether it is authorized to sell any
Trust Shares.

(b) Procedures for Requiring the Sale of Trust Shares.

(i) Each Majority Seller may demand that the Trustee sell all or any portion of that
Majority Seller’s Allocated Shares by delivering an irrevocable written instruction
(“Sale Demand Notice”) to sell a designated number of such Allocated Shares as
specified therein. Each Sale Demand Notice shall include a descriptive narrative explaining
the specific provisions contained in the Lock Up Agreement that permit or authorize the sale
of the number of Allocated Shares specified in such Sale Demand Notice.

(ii) The Trustee shall deliver to the Buyer Parent a copy of each Sale Demand Notice as
soon as reasonably practicable after receipt thereof.

(iii) Following Buyer Parent’s receipt of a copy of any Sale Demand Notice pursuant to
Section 1.4(b)(ii), Buyer Parent shall have five (5) business days to provide a written
notice (“Sale Objection Notice”) to the Trustee and to the applicable Majority
Seller setting forth in a descriptive narrative the specific provisions contained in the
Lock Up Agreement that Buyer Parent believes would prohibit the sale of all or some
specified portion of the Allocated Shares (the “Tentative Restricted Shares”)
designated for sale in such Sale Demand Notice.

(iv) Any dispute as to whether any Tentative Restricted Shares may be sold by the
Trustee shall be resolved between Buyer Parent and the applicable Majority Seller in
accordance with the terms and provisions of Section 1.6 hereof.

(c) Allocated Shares to be Sold. The Trustee shall sell the following Trust Shares in
the manner set forth in Section 1.4(d) hereof:

(i) Trust Shares that are designated for sale in written instructions delivered to the
Trustee and signed by both the Buyer Parent and a Majority Seller but in no event more than
the remaining number of Allocated Shares of such Majority Seller.

(ii) All of the Trust Shares designated for sale in a Sale Demand Notice if the Trustee
does not receive a Sale Objection Notice from Buyer Parent within five (5) business days
following delivery to Buyer Parent of such Sale Demand Notice pursuant to Section
1.4(b)(ii).

(iii) Any Trust Shares designated for sale in a Sale Demand Notice that are not
designated as Tentative Restricted Shares by Buyer Parent in a timely provided Sale
Objection Notice.

(iv) Any Tentative Restricted Shares that are subsequently determined to be free of all
restrictions on sale contained in the Lock Up Agreement pursuant to a final order issued in
an arbitration proceeding conducted in accordance with Section 1.6 hereof.

Except as expressly authorized by this Section 1.4(c), the Trustee shall not sell any Trust Shares.

(d) Manner of Sale by Trustee. The Trustee shall sell all Trust Shares that it is
required to sell pursuant to the terms of Section 1.4(c) hereof as follows:

(i) If the written instructions provided to the Trustee pursuant to Section 1.4(c)(i)
include instructions that some or all of the Trust Shares described therein must be sold to
the Buyer Parent, then the Trustee will sell the Trust Shares to the Buyer Parent on the
price and terms set forth in such written instructions.

(ii) The Trustee shall sell, in a reasonably prompt manner, subject to the limitations
of Rule 144 under the Securities Act, if applicable, and in an orderly and prudent manner,
all such Trust Shares that are not required to be sold to the Buyer Parent pursuant to
Section 1.4(d)(i) as follows:

(A) Except as provided in clauses (B) or (C), such Trust Shares shall be sold
as the Trustee determines, in its reasonable judgment, pursuant to one or more
broker’s transactions effected on the open market pursuant to Rule 144 under the
Securities Act of 1933 (the “Securities Act”), which sale shall be made
through one of the brokerage firms identified on Exhibit C hereto or such
other brokerage firm selected by the Majority Sellers and reasonably approved by
Buyer Parent as indicated in a written instruction jointly provided to the Trustee.

(B) If the Majority Seller whose Allocated Shares are being sold should provide
written notice (“Private Sale Notice”) to the Trustee before such Trust
Shares are sold pursuant to clause (A) above that the Trustee should sell the Trust
Shares to one or more buyers designated in such Private Sale Notice in a private
sale upon terms designated in such Private Sale Notice, then the Trustee shall sell
those Trust Shares in accordance with the instructions contained in such Private
Sale Notice in lieu of broker’s transactions effected pursuant to clause (A) above;
provided that, the Trustee shall not effect any such private sale unless the
purchase documents for such private sale,

(1) include a representation and warranty from each buyer that
such buyer (i) is not a competitor of the Buyer Parent (or any
Affiliate of a competitor of the Buyer Parent) with consolidated
gross revenues of more than $100,000,000 during the most recent
fiscal year, (ii) are not any of the Majority Sellers or an
Affiliate or an Immediate Family Member of any of the Majority
Sellers and (iii) are not an intermediary party for any Person
described in clauses (i) or (ii);

(2) are accompanied by an opinion of counsel from a law firm
reasonably approved by Buyer Parent to the effect that no
registration is required under the Securities Act or any applicable
state securities or “blue sky” laws for the sale of the Trust Shares
in such private sale; and

(3) have been reviewed and approved by the Buyer Parent, in its
reasonable discretion, to confirm that such purchase documents do
not contain any untrue statements of a material fact about the Buyer
Parent or omit to state a material fact necessary in order to make
the statements made about the Buyer Parent, in the light of the
circumstances under which they were made, not misleading.

(C) If (x) the Majority Seller whose Allocated Shares are being sold include in
the Sale Demand Notice a statement that the sale of the designated Trust Shares
shall be effected under a registration statement to be filed pursuant to the Lockup
Agreement or (y) the Trust Shares to be sold have a value equal to or in excess of
$50,000,000 and Buyer Parent notifies the Trustee and the Majority Seller before
such Trust Shares are sold pursuant to clause (A) above that such Allocated Shares
shall be sold in an underwritten public offering pursuant to Section 2.3 of the
Lockup Agreement, then the Trustee shall follow further joint written instructions
from Buyer Parent, on the one hand, and the applicable Majority Seller, on the
other, in connection with the effectuation of a sale of such Allocated Shares
pursuant to such a registration statement or an underwritten offering pursuant to
the terms of the Lockup Agreement. In furtherance of the foregoing, each of the
Parties hereby agrees to take all such action as may be necessary to arrange for the
sale of such Allocated Shares in accordance with the terms and conditions of the
Lockup Agreement.

In the event of conflicting notices provided under clauses (B) and (C), then the notice
under clause (C) will be given priority over the notice provided pursuant to clause (B) for
purposes of determining the manner in which the Trustee will sell the Trust Shares that are
described in such conflicting notices.

(e) Payment to Majority Seller. Within three business days following the completion
of a sale of a Majority Seller’s Allocated Shares, the Trustee will pay to such Majority Seller the
net proceeds, after costs and commissions, from such sale. As a condition to the Trustee’s
obligation to pay such net proceeds to a Majority Seller, such Majority Seller will be required to
surrender its Trust Certificate to Trustee, and the Trustee will issue a new Trust Certificate, if
necessary, to such Majority Seller, which Trust Certificate shall reflect the number of any
remaining unsold Allocated Shares of such Majority Seller.

Section 1.5. Distribution of Shares from Trust in Certain Events.

(a) Company Issuance Option. Buyer Parent shall have the option (the “Company
Issuance Option”), exercisable at any time during the term of this Trust Agreement, to require
the Trustee to distribute all Trust Shares to the Majority Sellers by providing written notice to
the Trustee and the Majority Sellers expressly exercising the Company Issuance Option and
certifying that (i) a majority of a quorum of the stockholders of Buyer Parent attending, in person
or by proxy, a duly called and convened regular or special meeting of the stockholders of Buyer
Parent, have approved the transfer of the Trust Shares by the Trustee to a Majority Seller or (ii)
Rule 312.03 of the Listed Company Manual of the New York Stock Exchange (“NYSE Rules”)
would not apply to the distribution of the Trust Shares to the Majority Sellers at the time of the
exercise of the Company Issuance Option.

(b) Deemed Exercise of Company Issuance Option. Buyer Parent shall be deemed to have
exercised the Company Issuance Option upon the earlier to occur of the following events
(“Trigger Events”):

(i) A majority of a quorum of the stockholders of Buyer Parent has approved, in person
or by proxy, at a duly called and convened regular or special meeting, the transfer of the
Trust Shares by the Trustee to the Majority Sellers;

(ii) A change in circumstances has occurred that results in Section 312.03 of the NYSE
Rules no longer applying to the transfer of the Trust Shares from the Trustee to the
Majority Sellers; or

(iii) The NYSE has repealed Section 312.03 of the NYSE Rules (and any successor
thereto) without replacing such rule with a similar, substitute or successor rule.

(c) Procedure for Establishing Deemed Exercise of Company Issuance Option.

(i) If the Majority Sellers believe that one of the Trigger Events has occurred and the
Buyer Parent has not exercised the Company Issuance Option pursuant to Section 1.5(a), then
the Majority Sellers may provide written notice (“Trigger Notice”) to the Trustee
advising which of the Trigger Events it believes has occurred.

(ii) The Trustee shall deliver to the Buyer Parent a copy of any Trigger Notice as soon
as reasonably practicable after receipt thereof.

(iii) Following Buyer Parent’s receipt of a copy of any Trigger Notice pursuant to
Section 1.5(c)(ii), Buyer Parent shall have five (5) business days to provide a written
notice (“Trigger Objection Notice”) to the Trustee and to the Majority Sellers
asserting that it does not believe that the Trigger Event designated in the Trigger Notice
has occurred.

(iv) Any dispute as to whether any Trigger Event has occurred shall be resolved between
Buyer Parent and the Majority Sellers as follows:

(A) If the dispute relates to whether or not the Trigger Event described in
Section 1.5(b)(ii) has occurred, then (x) the Parties will cooperate with one
another to submit to the New York Stock Exchange (“NYSE”) a joint request for a
ruling as to whether Section 312.03 of the NYSE Rules would apply to a transfer of
the Trust Shares from the Trustee to the Majority Sellers and (y) the Trigger Event
described in Section 1.5(b)(ii) will only be deemed to have occurred in the event
that the NYSE provides a written ruling that Section 312.03 would not apply to a
transfer of the Trust Shares from the Trustee to the Majority Seller. The Parties
will deliver, or cause to be delivered, to the Trustee a copy of any such written
ruling by the NYSE.

(B) All other such disputes shall be resolved in accordance with the terms and
provisions of Section 1.6 hereof.

(d) Distribution of Trust Shares. The Trustee shall redeem each Majority Seller’s
Trust Certificate in exchange for (x) the issuance of the unsold Allocated Shares of such Majority
Seller and (y) the payment of any undistributed dividends (and any interest or earnings received by
the Trustee with respect to such dividends) previously received by the Trustee attributable to the
unsold Allocated Shares of such Majority Seller upon the first to occur of the following:

(i) The Buyer Parent exercises the Company Issuance Option pursuant to, and in
accordance with, the provisions of Section 1.5(a) hereof.

(ii) The Majority Sellers provide a Trigger Notice pursuant to, and in accordance with,
Section 1.5(c)(i) hereof, and the Trustee does not receive a Trigger Objection Notice from
Buyer Parent within five (5) business days following delivery of such Trigger Notice to
Buyer Parent pursuant to Section 1.5(c)(ii).

(iii) A subsequent determination pursuant to a final order issued in an arbitration
proceeding conducted in accordance with Section 1.6 hereof that a Trigger Event has
occurred.

(e) HSR Filing. Notwithstanding the other provisions contained in this Section 1.5,
no Trust Shares may be transferred by the Trustee to any Majority Seller unless the Buyer Parent
and such Majority Seller shall have certified to the Trustee in writing that (i) no filing is
required under the Hart Scott Rodino Antitrust Improvements Act of 1976 (as amended) (“HSR
Act”) by reason of the acquisition of the Allocated Shares of such Majority Seller or (ii) the
filing required under the HSR Act by reason of the acquisition of the Allocated Shares of such
Majority Seller has been made and the waiting period has expired by its terms or is terminated
early by the applicable regulatory agencies. The Trustee shall be entitled to rely and shall be
fully protected in relying upon any such certification concerning the HSR Act without further
investigation or verification.

Section 1.6. Resolution of Disputes. If, for any reason, the applicable Majority
Seller and the Buyer Parent are unable to resolve a dispute arising out of a Sale Objection Notice
delivered pursuant to Section 1.4(b)(iii) hereof or a Trigger Objection Notice delivered pursuant
to Section 1.5(c)(iii) hereof to their satisfaction within five (5) business days after delivery of
such Sale Objection Notice or Trigger Objection Notice, then they may continue to attempt to
resolve such dispute, or either of them may at any time thereafter commence binding arbitration
under the Commercial Arbitration Rules of the American Arbitration Association (“AAA”) to
resolve such dispute. The arbitration shall be before a three-arbitrator panel, with one
arbitrator selected by the Buyer Parent, one arbitrator selected by the Majority Sellers, and the
third arbitrator selected by the two arbitrators. At least one arbitrator will be an attorney.
Two or more of the arbitrators shall have the authority to make the final and binding decision with
respect to such dispute and any such decisions shall be binding upon the Majority Sellers and the
Buyer Parent, and the Trustee may rely upon any such decision for all purposes hereof. The final
decision of the arbitrators must be issued in a written form, and the arbitrators will be required
to provide a copy of the final written decision to the Buyer Parent, the Majority Sellers and the
Trustee. The applicable Majority Seller and the Buyer Parent shall each bear their own internal
expenses and attorney’s fees and expenses in connection with any arbitration brought pursuant to
this Section 1.6. Any arbitration commenced pursuant to this Section 1.6 shall be conducted in
Miami, Florida, unless otherwise mutually agreed by the Majority Sellers and the Buyer Parent.
Nothing in this Section 1.6 shall preclude either the Majority Sellers or the Buyer Parent from
seeking immediate recourse to a court of competent jurisdiction to: (i) enforce the terms of, or an
arbitration award under this Section 1.6; (ii) seek a temporary restraining order, preliminary
injunction or other equitable relief (including specific performance), where such relief is
necessary to protect its interests, or (iii) to grant recovery of specific property. All matters
relating to arbitration shall be strictly confidential.

Section 1.7. Transfer Restrictions. The Trust Certificates will not be transferable
by a Majority Seller except to (i) Affiliates of such Majority Seller, (2) an Immediate Family
Member of such Majority Seller or any trust established for the benefit of one or more Immediate
Family Members of such Majority Seller for estate planning purposes or (iii) the other Majority
Seller.

Section 1.8. Dividends. Trustee will receive, and invest in a Wells Fargo Bank Money
Market Deposit Account, all dividends declared and paid with respect to the Trust Shares. All
dividends, and any interest earned by Trustee on dividends, with respect to the Trust Shares shall
be distributed, net of any taxes and withholding obligations, to the Majority Sellers in proportion
to each of their unsold Allocated Shares.

Section 1.9. Voting Rights.

(a) Possession of Voting Power. The Trustee shall possess and shall be entitled to
exercise in person or by proxy in respect of any and all Trust Shares at any time deposited under
this Trust Agreement, all rights and powers to vote the Trust Shares; provided, however, that the
Trustee will exercise such rights and powers to vote the Trust Shares, and shall vote the Trust
Shares, in conformance with the vote of the majority of the outstanding voting securities of the
Buyer Parent (excluding the Trust Shares) that are also voting on such applicable matter. The
grant of proxy set forth in Section 1.9(c) below shall fully satisfy the obligations of the Trustee
under this Section 1.9(a).

(b) Majority Sellers Excluded from Voting of Trust Shares. The Majority Sellers will
have no right to direct, control or influence the Trustee in connection with any decision to vote
the Trust Shares.

(c) Grant of Proxy. On and subject to the provisions of this Section 1.9(c), the
Trustee hereby grants to the person who is then serving as the Secretary of the Buyer Parent
(“Voting Person”) an irrevocable proxy (this “Proxy”) to vote, or to execute and
deliver written consents or otherwise to act with respect to the voting of the Trust Shares, as
fully, to the same extent, and with the same effect as the Trustee might or could do under any
applicable laws or regulations governing the rights and powers of shareholders of the Buyer Parent
in connection with any and all matters for which shareholders of the Buyer Parent are entitled to
vote. The Trustee hereby affirms that this Proxy is coupled with an interest and is irrevocable;
provided that this Proxy shall only apply to those Trust Shares that are owned by the Trustee
pursuant to this Trust Agreement and shall cease to apply with respect to any Trust Shares that may
be sold pursuant to Section 1.4 hereof or that may be distributed to the Majority Sellers pursuant
to Section 1.5 hereof. It is further understood by the Trustee that this Proxy may be exercised by
the Voting Person, his successors as Secretary of the Buyer Parent or his designated assigns. When
exercising the rights under this Proxy, the Voting Person shall vote the Trust Shares at all
meetings and on all matters (including but not limited to the election of directors) upon which
shareholders of the Buyer Parent are entitled to vote in conformance with the vote of the majority
of the outstanding voting securities of the Buyer Parent (excluding the Trust Shares) that are also
voting on such applicable matter. The Trustee will hereafter execute such other and further
agreements, documents, proxy cards or other instruments as may be requested by the Buyer Parent to
better implement or carry out the purposes and provisions of this Proxy.

Section 1.10. Income Tax Allocation and Reporting.

(a) The Parties agree that, for all tax purposes, all interest and other income from
investment of the Trust Shares or gain recognized from any disposition of the Trust Shares shall,
as of the end of each calendar year, be reported as having been earned by the Majority Sellers, in
the pro rata portion indicated by their respective ownership of Trust Shares as set forth in
Section 1.3 above, whether or not such income was disbursed during such calendar year.

(b) Prior to the execution of this Trust Agreement, the Parties shall provide the Trustee with
certified tax identification numbers by furnishing appropriate forms W-9 or W-8 and such other
forms and documents that the Trustee may request. The Parties understand that if such tax
reporting documentation is not provided and certified to the Trustee, the Trustee may be required
by the Internal Revenue Code of 1986, as amended, and the Regulations promulgated thereunder, to
withhold a portion of any interest or other income earned on the investment of the Trust Shares.

(c) To the extent that the Trustee becomes liable for the payment of any taxes in respect of
income derived from the investment of the Trust Shares, the Trustee shall satisfy such liability to
the extent possible from the Trust Shares. The Majority Sellers shall indemnify, defend and hold
the Trustee harmless from and against any tax, late payment, interest, penalty or other cost or
expense that may be assessed against the Trustee on or with respect to the Trust Shares and the
investment thereof unless such tax, late payment, interest, penalty or other expense was directly
caused by the gross negligence or willful misconduct of the Trustee. The indemnification provided
by this Section 1.10(c) is in addition to the indemnification provided in Section 3.1 and shall
survive the resignation of the Trustee and the termination of this Trust Agreement.

Section 1.11. Termination. Upon the disbursement of all of the Trust Shares,
including any and all dividends or other property received in respect to such Trust Shares, this
Trust Agreement shall terminate and be of no further force and effect except that the provisions of
Sections 3.1 and 3.2 hereof shall survive termination.

ARTICLE 2

DUTIES OF THE TRUSTEE

Section 2.1. Scope of Responsibility. Notwithstanding any provision to the contrary,
the Trustee is obligated only to perform the duties specifically set forth in this Trust Agreement,
which shall be deemed purely ministerial in nature. Under no circumstances will the Trustee be
deemed to be a fiduciary to any Party or any other person under this Trust Agreement. The Trustee
will not be responsible or liable for the failure of any Party to perform in accordance with this
Trust Agreement. The Trustee shall neither be responsible for, nor chargeable with, knowledge of
the terms and conditions of any other agreement, instrument, or document other than this Trust
Agreement, whether or not an original or a copy of such agreement has been provided to the Trustee;
and the Trustee shall have no duty to know or inquire as to the performance or nonperformance of
any provision of any such agreement, instrument, or document. References in this Trust Agreement
to any other agreement, instrument, or document are for the convenience of the Parties, and the
Trustee has no duties or obligations with respect thereto. This Trust Agreement sets forth all
matters pertinent to the trust arrangement contemplated hereunder, and no additional obligations of
the Trustee shall be inferred or implied from the terms of this Trust Agreement or any other
agreement, including without limitation the Stock Purchase Agreement and the Lockup Agreement.

Section 2.2. Attorneys and Agents. The Trustee shall be entitled to rely on and shall
not be liable for any action taken or omitted to be taken by the Trustee in accordance with the
advice of counsel or other professionals retained or consulted by the Trustee. The Trustee shall
be reimbursed as set forth in Section 3.1 for any and all compensation (fees, expenses and other
costs) paid and/or reimbursed to such counsel and/or professionals. The Trustee may perform any
and all of its duties through its agents, representatives, attorneys, custodians, and/or nominees.

Section 2.3. Reliance. The Trustee shall not be liable for any action taken or not
taken by it in accordance with the direction or consent of the Parties or their respective agents,
representatives, successors, or assigns. The Trustee shall not be liable for acting or refraining
from acting upon any notice, request, consent, direction, requisition, certificate, order,
affidavit, letter, or other paper or document believed by it to be genuine and correct and to have
been signed or sent by the proper person or persons, without further inquiry into the person’s or
persons’ authority.

Section 2.4. Right Not Duty Undertaken. The permissive rights of the Trustee to do
things enumerated in this Trust Agreement shall not be construed as duties.

Section 2.5. No Financial Obligation. No provision of this Trust Agreement shall
require the Trustee to risk or advance its own funds or otherwise incur any financial liability or
potential financial liability in the performance of its duties or the exercise of its rights under
this Trust Agreement.

ARTICLE 3

PROVISIONS CONCERNING THE TRUSTEE

Section 3.1. Indemnification. The Parties, jointly and severally, shall indemnify,
defend and hold harmless the Trustee from and against any and all loss, liability, cost, damage and
expense, including, without limitation, attorneys’ fees and expenses or other professional fees and
expenses which the Trustee may suffer or incur by reason of any action, claim or proceeding brought
against the Trustee, arising out of or relating in any way to this Trust Agreement or any
transaction to which this Trust Agreement relates, unless such loss, liability, cost, damage or
expense shall have been finally adjudicated to have been directly caused by the willful misconduct
or gross negligence of the Trustee. The provisions of this Section 3.1 shall survive the
resignation or removal of the Trustee and the termination of this Trust Agreement.

Section 3.2. Limitation of Liability. THE TRUSTEE SHALL NOT BE LIABLE, DIRECTLY OR
INDIRECTLY, FOR ANY (I) DAMAGES, LOSSES OR EXPENSES ARISING OUT OF THE SERVICES PROVIDED HEREUNDER,
OTHER THAN DAMAGES, LOSSES OR EXPENSES WHICH HAVE BEEN FINALLY ADJUDICATED TO HAVE DIRECTLY
RESULTED FROM THE TRUSTEE’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, OR (II) SPECIAL, INDIRECT OR
CONSEQUENTIAL DAMAGES OR LOSSES OF ANY KIND WHATSOEVER (INCLUDING WITHOUT LIMITATION LOST PROFITS),
EVEN IF THE TRUSTEE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS OF
THE FORM OF ACTION.

Section 3.3. Resignation. The Trustee may resign by furnishing written notice of its
resignation to the Parties. Such resignation shall be effective thirty (30) days after the
delivery of such notice or upon the earlier appointment of a successor, and the Trustee’s sole
responsibility thereafter shall be to safely keep the Trust Shares and any dividends on other
property received in respect of such Trust Shares and to deliver the same to a successor trustee as
shall be appointed by the Parties, as evidenced by a joint written notice filed with the Trustee or
in accordance with a court order. If the Parties have failed to appoint a successor trustee prior
to the expiration of thirty (30) days following the delivery of such notice of resignation, the
Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee
or for other appropriate relief, and any such resulting appointment shall be binding upon the
Parties.

Section 3.4. Compensation. The Trustee shall be entitled to compensation for its
services as stated in the fee schedule attached hereto as Exhibit B, which compensation
shall be borne equally by the Majority Sellers and Buyer Parent. The fee agreed upon for the
services rendered hereunder is intended as full compensation for the Trustee’s services as
contemplated by this Trust Agreement; provided, however, that in the event that the conditions for
the disbursement of funds under this Trust Agreement are not fulfilled, or the Trustee renders any
service not contemplated by this Trust Agreement, or there is any assignment of interest in the
subject matter of this Trust Agreement, or any material modification hereof, or if any material
controversy arises hereunder, or the Trustee is made a party to any litigation pertaining to this
Trust Agreement or the subject matter hereof, then the Trustee shall be compensated for such
extraordinary services and reimbursed for all costs and expenses, including reasonable attorneys’
fees and expenses, occasioned by any such delay, controversy, litigation or event. If any amount
due to the Trustee hereunder is not paid within thirty (30) days of the date due, the Trustee in
its sole discretion may charge interest on such amount up to the highest rate permitted by
applicable law. The Trustee shall have, and is hereby granted, a prior lien upon the Trust Shares
with respect to its unpaid fees, non-reimbursed expenses and unsatisfied indemnification rights,
superior to the interests of any other persons or entities and is hereby granted the right to set
off and deduct any unpaid fees, non-reimbursed expenses and unsatisfied indemnification rights from
the Trust Shares.

Section 3.5. Disagreements. If any conflict, disagreement or dispute arises between,
among, or involving any of the parties hereto concerning the meaning or validity of any provision
hereunder or concerning any other matter relating to this Trust Agreement, or the Trustee is in
doubt as to the action to be taken hereunder, the Trustee is authorized to retain the Trust Shares
until the Trustee (i) receives a final non-appealable order of a court of competent jurisdiction or
a final non-appealable arbitration decision directing delivery of the Trust Shares, (ii) receives a
written agreement executed by each of the parties involved in such disagreement or dispute
directing delivery of the Trust Shares, in which event the Trustee shall be authorized to disburse
the Trust Shares in accordance with such final court order, arbitration decision, or agreement, or
(iii) files an interpleader action in any court of competent jurisdiction, and upon the filing
thereof, the Trustee shall be relieved of all liability as to the Trust Shares and shall be
entitled to recover attorneys’ fees, expenses and other costs incurred in commencing and
maintaining any such interpleader action. The Trustee shall be entitled to act on any such
agreement, court order, or arbitration decision without further question, inquiry, or consent.

Section 3.6. Merger or Consolidation. Any corporation or association into which the
Trustee may be converted or merged, or with which it may be consolidated, or to which it may sell
or transfer all or substantially all of its corporate trust business and assets as a whole or
substantially as a whole, or any corporation or association resulting from any such conversion,
sale, merger, consolidation or transfer to which the Trustee is a party, shall be and become the
successor trustee under this Trust Agreement and shall have and succeed to the rights, powers,
duties, immunities and privileges as its predecessor, without the execution or filing of any
instrument or paper or the performance of any further act.

Section 3.7. Attachment of Trust Shares; Compliance with Legal Orders. In the event
that any Trust Shares shall be attached, garnished or levied upon by any court order, or the
delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment or
decree shall be made or entered by any court order affecting the Trust Shares, the Trustee is
hereby expressly authorized, in its sole discretion, to respond as it deems appropriate or to
comply with all writs, orders or decrees so entered or issued, or which it is advised by legal
counsel of its own choosing is binding upon it, whether with or without jurisdiction. In the event
that the Trustee obeys or complies with any such writ, order or decree it shall not be liable to
any of the Parties or to any other person, firm or corporation, should, by reason of such
compliance notwithstanding, such writ, order or decree be subsequently reversed, modified,
annulled, set aside or vacated.

ARTICLE 4

MISCELLANEOUS

Section 4.1. Successors and Assigns. This Trust Agreement shall be binding on and
inure to the benefit of the Parties and the Trustee and their respective successors and permitted
assigns. No other persons shall have any rights under this Trust Agreement. No assignment of the
interest of any of the Parties shall be binding unless and until written notice of such assignment
shall be delivered to the other Party and the Trustee and shall require the prior written consent
of the other Party and the Trustee (such consent not to be unreasonably withheld).

Section 4.2. Escheat. The Parties are aware that under applicable state law, property
which is presumed abandoned may under certain circumstances escheat to the applicable state. The
Trustee shall have no liability to the Parties, their respective heirs, legal representatives,
successors and assigns, or any other party, should any or all of the Trust Shares escheat by
operation of law.

Section 4.3. Notices. All notices, requests, demands, and other communications
required under this Trust Agreement shall be in writing, in English, and shall be deemed to have
been duly given if delivered (i) personally, (ii) by facsimile transmission with written
confirmation of receipt, (iii) by overnight delivery with a reputable national overnight delivery
service, or (iv) by mail or by certified mail, return receipt requested, and postage prepaid. If
any notice is mailed, it shall be deemed given five business days after the date such notice is
deposited in the United States mail. Any notice given shall be deemed given upon the actual date
of such delivery. If notice is given to a party, it shall be given at the address for such party
set forth below. It shall be the responsibility of the Parties to notify the Trustee and the other
Party in writing of any name or address changes. In the case of communications delivered to the
Trustee, such communications shall be deemed to have been given on the date received by the
Trustee.

If to Live Nation, Inc.:

Live Nation, Inc.

9348 Civic Center Drive, 4th Floor

Beverly Hills, CA 90210

Facsimile Number: (310) 867-7054

Attention: Alan Ridgeway, Chief Financial Officer

with a copy to:

Live Nation, Inc.

9348 Civic Center Drive, 4th Floor

Beverly Hills, CA 90210

Facsimile Number: (310) 867-7158

Attention: Michael Rowles, General Counsel

If to a Majority Seller, to it at the registered address for its Trust Certificates shown in
the records of the Trustee,

with a copy to:

c/o John Perkins

28 Pine Road

Palm Court

Bellville, St. Michael, Barbados

Facsimile Number: (246) 429-5143

and a copy to:

Kaye Scholer LLP

425 Park Avenue

New York, New York 10022

Facsimile number: (212) 836-8689

Attention: Emanuel Cherney, Esq.

Each of the parties to this Trust Agreement may specify a different address or facsimile
number by giving notice in accordance with this Section 6.7 to each of the other parties
hereto.

If to the Trustee:

Wells Fargo Bank, National Association

1021 Main Street, Suite 2403

MAC T5017-241

Houston, Texas 77002

Attention: Deirdre Ward, Corporate Trust and Escrow Services

Telephone: (713) 289-3463

Facsimile: (713) 289-3488

Each of the parties to this Trust Agreement may specify a different address or facsimile number by
giving notice in accordance with this Section 4.3 to each of the other parties hereto.

Section 4.4. Governing Law. This Trust Agreement shall be governed by and construed
in accordance with the laws of the State of Florida.

Section 4.5. Entire Agreement. This Trust Agreement, together with the Stock Purchase
Agreement and the Lockup Agreement, sets forth the entire agreement and understanding of the
Parties relating to the Trust Shares and supersedes any prior oral or written agreements or
arrangements in respect to the subject matter hereof and thereof.

Section 4.6. Amendment. This Trust Agreement may be amended, modified, superseded,
rescinded, or canceled only by a written instrument executed by each of the Parties and the
Trustee.

Section 4.7. Waivers. The failure of any party to this Trust Agreement at any time or
times to require performance of any provision under this Trust Agreement shall in no manner affect
the right at a later time to enforce the same performance. A waiver by any party to this Trust
Agreement of any such condition or breach of any term, covenant, representation, or warranty
contained in this Trust Agreement, in any one or more instances, shall neither be construed as a
further or continuing waiver of any such condition or breach nor a waiver of any other condition or
breach of any other term, covenant, representation, or warranty contained in this Trust Agreement.

Section 4.8. Headings. Section headings of this Trust Agreement have been inserted
for convenience of reference only and shall in no way restrict or otherwise modify any of the terms
or provisions of this Trust Agreement.

Section 4.9. Counterparts. This Trust Agreement may be executed in one or more
counterparts, each of which when executed shall be deemed to be an original, and all of such
counterparts taken together shall constitute one and the same instrument.

Section 4.10. Certain Defined Terms. As used in this Trust Agreement, the following
terms will have the following respective meanings:

(a) “Affiliate” with respect to any specified Person, (i) with respect to any natural
Person, any trust, family limited partnership or similar entity created by such natural Person
solely for the benefit of such natural Person for estate planning purposes, and (ii) with respect
to any other Person, any Person which directly or indirectly through one or more intermediaries
controls, or is controlled by, or is under common control with, such other Person (for the purposes
of this definition, “control,” including, with correlative meanings, the terms “controlling,”
“controlled by” and “under common control with,” as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of such Person, whether through the ownership of voting securities, by agreement or
otherwise).

(b) “Person” means any individual, partnership, corporation, company, association,
trust, joint venture, limited liability company, unincorporated organization, entity or division,
or any government, governmental department or agency or political subdivision thereof.

(c) “Immediate Family Member” means any child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, and shall include adoptive relationships.

[The remainder of this page left intentionally blank.]

1

IN WITNESS WHEREOF, this Trust Agreement has been duly executed as of the date first
written above.

LIVE NATION, INC.

By: /s/ Michael Rowles

Name: Michael Rowles

Title: EVP, GC and Secretary

SAMCO INVESTMENTS LTD.

By: /s/ Christopher C. Morris

Name: Christopher C. Morris

Title: Director

/s/ Michael Cohl

	 	 	MICHAEL COHL

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

By: /s/ Josie Hixon

Name: Josie Hixon

Title: Vice President

2

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