Document:

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                                                                    EXHIBIT 4.3

                          REGISTRATION RIGHTS AGREEMENT

         This Registration Rights Agreement (this "Agreement") is made and
entered into this 6th day of July, 2000 among Reliant Energy Resources Corp.,
a Delaware corporation (the "Company"), and Banc of America Securities LLC
("BofA"), Credit Suisse First Boston Corporation and Deutsche Bank Securities
Inc. (collectively, the "Initial Purchasers").

         This Agreement is made pursuant to the Purchase Agreement dated June
29, 2000 among the Company and the Initial Purchasers (the "Purchase
Agreement"), which provides for the sale by the Company to the Initial
Purchasers of an aggregate of $325,000,000 principal amount of the Company's
8.125% Notes due 2005, Series A (the "Securities"). In order to induce the
Initial Purchasers to enter into the Purchase Agreement, the Company has
agreed to provide to the Initial Purchasers and their direct and indirect
transferees the registration rights set forth in this Agreement. The
execution of this Agreement is a condition to the closing under the Purchase
Agreement.

         In consideration of the foregoing, the parties hereto agree as
follows:

         1.       DEFINITIONS.  As used in this Agreement, the following
capitalized defined terms shall have the following meanings:

                  "1933 Act" shall mean the Securities Act of 1933, as
amended from time to time.

                  "1934 Act" shall mean the Securities Exchange Act of 1934,
as amended from time to time.

                  "Additional Interest" shall have the meaning set forth in
Section 2.5 hereof.

                  "BofA" shall have the meaning set forth in the preamble.

                  "Business Day" shall mean each Monday, Tuesday, Wednesday,
Thursday and Friday which is not a day on which banking institutions in The
City of New York are authorized or obligated by law or executive order to
close.

                  "Closing Date" shall mean the Time of Delivery as defined
in the Purchase Agreement.

                  "Company" shall have the meaning set forth in the preamble
and shall also include the Company's successors.

                  "Depositary" shall mean The Depository Trust Company, or
any other depositary for the Securities appointed by the Company; PROVIDED,
HOWEVER, that such depositary must have an address in the Borough of
Manhattan, in the City of New York.

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                  "Exchange Offer" shall mean the exchange offer by the
Company of Exchange Securities for Registrable Securities pursuant to Section
2.1 hereof.

                  "Exchange Offer Registration" shall mean a registration under
the 1933 Act effected pursuant to Section 2.1 hereof.

                  "Exchange Offer Registration Statement" shall mean an
exchange offer registration statement on Form S-4 (or, if applicable, on
another appropriate form), and all amendments and supplements to such
registration statement, including the Prospectus contained therein, all
exhibits thereto and all documents incorporated by reference therein.

                  "Exchange Period" shall have the meaning set forth in
Section 2.1 hereof.

                  "Exchange Securities" shall mean the 8.125% Notes due 2005,
Series B issued by the Company under the Indenture containing terms identical
to the Securities in all material respects (except for references to certain
interest rate provisions, restrictions on transfers and restrictive legends),
to be offered to Holders of Securities in exchange for Registrable Securities
pursuant to the Exchange Offer.

                  "Holder" shall mean an Initial Purchaser, for so long as it
owns any Registrable Securities, and each of its successors, assigns and
direct and indirect transferees who become registered owners of Registrable
Securities under the Indenture and each Participating Broker-Dealer that
holds Exchange Securities for so long as such Participating Broker-Dealer is
required to deliver a prospectus meeting the requirements of the 1933 Act in
connection with any resale of such Exchange Securities.

                  "Indenture" shall mean the Indenture, dated as of February
1, 1998, between the Company and Chase Bank of Texas, National Association,
as trustee, as supplemented by Supplemental Indenture No. 3 thereto dated as
of July 6, 2000 and as the same may be amended, supplemented, waived or
otherwise modified from time to time in accordance with the terms thereof.

                  "Initial Purchaser" or "Initial Purchasers" shall have the
meaning set forth in the preamble.

                  "Majority Holders" shall mean the Holders of a majority of
the aggregate principal amount of Outstanding (as defined in the Indenture)
Registrable Securities; PROVIDED that whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required
hereunder, Registrable Securities held by the Company and other obligors on
the Securities or any Affiliate (as defined in the Indenture) of the Company
shall be disregarded in determining whether such consent or approval was
given by the Holders of such required percentage amount.

                  "Participating Broker-Dealer" shall mean any Initial
Purchaser, and any other broker-dealer which makes a market in the Securities
and exchanges Registrable Securities in the Exchange Offer for Exchange
Securities.

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                  "Person" shall mean any individual, corporation,
partnership, joint venture, trust, limited liability company, unincorporated
organization or government or any agency or political subdivision thereof.

                  "Prospectus" shall mean the prospectus included in a
Registration Statement, including any preliminary prospectus, and any such
prospectus as amended or supplemented by any prospectus supplement, including
any such prospectus supplement with respect to the terms of the offering of
any portion of the Registrable Securities covered by a Shelf Registration
Statement, and by all other amendments and supplements to a prospectus,
including post-effective amendments, and in each case including all material
incorporated by reference therein.

                  "Purchase Agreement" shall have the meaning set forth in
the preamble.

                  "Registrable Securities" shall mean the Securities;
PROVIDED, HOWEVER, that Securities shall cease to be Registrable Securities
when (i) a Registration Statement with respect to such Securities shall have
been declared effective under the 1933 Act and such Securities shall have
been disposed of pursuant to such Registration Statement, (ii) such
Securities have been sold to the public pursuant to Rule 144 under the 1933
Act under circumstances in which any legend borne by such Securities relating
to restrictions on transferability thereof, under the 1933 Act or otherwise,
is removed or may be sold pursuant to Rule 144(k) (or any similar provision
then in force, but not Rule 144A) under the 1933 Act, (iii) such Securities
shall have ceased to be outstanding or (iv) the Exchange Offer is consummated
(except in the case of Securities purchased from the Company and continued to
be held by the Initial Purchasers).

                  "Registration Expenses" shall mean any and all expenses
incident to performance of or compliance by the Company with this Agreement,
including, without limitation: (i) all SEC, stock exchange or National
Association of Securities Dealers, Inc. ("NASD") registration and filing
fees, including, if applicable, the reasonable fees and expenses of any
"qualified independent underwriter" (and its counsel) that is required to be
retained by any holder of Registrable Securities in accordance with the rules
and regulations of the NASD, (ii) all fees and expenses incurred in
connection with compliance with state securities or blue sky laws and
compliance with the rules of the NASD (including reasonable fees and
disbursements of counsel for any underwriters or Holders in connection with
blue sky qualification of any of the Exchange Securities or Registrable
Securities and any filings with the NASD), (iii) all expenses of any Persons
in preparing or assisting in preparing, word processing, printing and
distributing any Registration Statement, any Prospectus, any amendments or
supplements thereto, any underwriting agreements, securities sales agreements
and other documents relating to the performance of and compliance with this
Agreement, (iv) all fees and expenses incurred in connection with the
listing, if any, of any of the Registrable Securities on any securities
exchange or exchanges, (v) all rating agency fees, (vi) the fees and
disbursements of counsel for the Company and of the independent public
accountants of the Company, including the expenses of any special audits or
"cold comfort" letters required by or incident to such performance and
compliance, (vii) the fees and expenses of the Trustee, and any escrow agent
or custodian, (viii) the reasonable fees and disbursements of one firm of
legal counsel selected by the Majority Holders to represent the Holders of
Registrable Securities and (ix) any reasonable fees and

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disbursements of the underwriters customarily required to be paid by issuers
or sellers of securities and the fees and expenses of any special experts
retained by the Company in connection with any Registration Statement, but
excluding underwriting discounts and commissions and transfer taxes, if any,
relating to the sale or disposition of Registrable Securities by a Holder.

                  "Registration Statement" shall mean any registration
statement of the Company which covers any of the Exchange Securities or
Registrable Securities pursuant to the provisions of this Agreement, and all
amendments and supplements to any such Registration Statement, including
post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference
therein.

                  "SEC" shall mean the United States Securities and Exchange
Commission or any successor agency or governmental body performing the
functions currently performed by the United States Securities and Exchange
Commission.

                  "Securities" shall have the meaning set forth in the
preamble.

                  "Shelf Registration" shall mean a registration effected
pursuant to Section 2.2 hereof.

                  "Shelf Registration Statement" shall mean a "shelf"
registration statement of the Company pursuant to the provisions of Section
2.2 of this Agreement which covers all of the Registrable Securities on an
appropriate form under Rule 415 under the 1933 Act, or any similar rule that
may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

                  "TIA" shall mean the Trust Indenture Act of 1939, as
amended.

                  "Trustee" shall mean the trustee with respect to the
Securities under the Indenture.

         2.       REGISTRATION UNDER THE 1933 ACT.

                  2.1 EXCHANGE OFFER. The Company shall, for the benefit of
the Holders, at the Company's cost, use its reasonable best efforts (A) to
file with the SEC the Exchange Offer Registration Statement not later than
120 calendar days following the original issuance of the Securities with
respect to a proposed Exchange Offer and the issuance and delivery to the
Holders, in exchange for the Registrable Securities, of a like principal
amount of Exchange Securities, (B) to cause the Exchange Offer Registration
Statement to be declared effective under the 1933 Act within 180 calendar
days of the original issuance of the Securities, (C) to keep the Exchange
Offer Registration Statement effective until the closing of the Exchange
Offer and (D) unless the Exchange Offer would not be permitted by applicable
law or SEC policy, to cause the Exchange Offer to be consummated within 210
calendar days following the original issuance of the Securities. The Exchange
Securities will be issued under the Indenture. Upon the effectiveness of the
Exchange Offer Registration Statement, the Company shall promptly

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commence the Exchange Offer, it being the objective of such Exchange Offer to
enable each Holder eligible and electing to exchange Registrable Securities
for Exchange Securities (assuming that such Holder (A) is not an affiliate of
the Company within the meaning of Rule 405 under the 1933 Act, (B) is not a
broker-dealer tendering Registrable Securities acquired directly from the
Company or one of its Affiliates for its own account, (C) acquired the
Exchange Securities in the ordinary course of such Holder's business and (D)
has no arrangements or understandings with any Person to participate in the
Exchange Offer for the purpose of distributing the Exchange Securities) to
transfer such Exchange Securities from and after their receipt without any
limitations or restrictions under the 1933 Act and without material
restrictions under the securities laws of a substantial portion of the
several states of the United States.

         In connection with the Exchange Offer, the Company will:

                  (A) as promptly as practicable after the Exchange Offer
         Registration Statement has been declared effective by the SEC, mail to
         each Holder a copy of the Prospectus forming part of the Exchange Offer
         Registration Statement, together with an appropriate letter of
         transmittal and related documents;

                  (B) keep the Exchange Offer open for acceptance for a period
         of not less than 20 Business Days after the date notice thereof is
         mailed to the Holders (or longer if required by applicable law) (such
         period referred to herein as the "Exchange Period");

                  (C) utilize the services of the Depositary for the Exchange
         Offer;

                  (D) permit Holders to (i) withdraw tendered Registrable
         Securities at any time prior to 5:00 p.m. (Eastern Time) on the last
         Business Day of the Exchange Period, by sending to the institution
         specified in the notice a telegram, telex, facsimile transmission or
         letter setting forth the name of such Holder, the principal amount of
         Registrable Securities delivered for exchange and a statement that such
         Holder is withdrawing such Holder's election to have such Securities
         exchanged and (ii) tender Registrable Securities according to customary
         guaranteed delivery procedures if such Holder cannot deliver such
         Registrable Securities or complete the procedures relating thereto on a
         timely basis prior to 5:00 p.m. (Eastern Time) on the last Business Day
         of the Exchange Period;

                  (E) notify each Holder that any Registrable Security not
         tendered will remain outstanding and continue to accrue interest, but
         will not retain any rights under this Agreement (except in the case of
         the Initial Purchasers and Participating Broker-Dealers as provided
         herein); and

                  (F) otherwise comply in all material respects with all
         applicable laws relating to the Exchange Offer.

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         As soon as practicable after the close of the Exchange Offer, the
         Company shall:

                  (A) accept for exchange all Registrable Securities duly
         tendered and not validly withdrawn pursuant to the Exchange Offer in
         accordance with the terms of the Exchange Offer Registration Statement
         and the letter of transmittal which shall be an exhibit thereto;

                  (B) deliver or cause to be delivered all Registrable
         Securities accepted for exchange to the Trustee for cancellation; and

                  (C) cause the Trustee promptly to authenticate and deliver
         Exchange Securities to each Holder of Registrable Securities so
         accepted for exchange in a principal amount equal to the principal
         amount of the Registrable Securities of such Holder so accepted for
         exchange.

         Interest on each Exchange Security will accrue from the last date on
which interest was paid on the Registrable Securities surrendered in exchange
therefor or, if no interest has been paid on the Registrable Securities, from
the date of original issuance. The Exchange Offer shall not be subject to any
conditions, other than (A) that the Exchange Offer, or the making of any
exchange by a Holder, does not violate applicable law or any applicable
interpretation of the staff of the SEC, (B) the valid tendering of
Registrable Securities in accordance with the Exchange Offer, (C) that each
Holder of Registrable Securities exchanged in the Exchange Offer shall have
represented that (i) it is not an affiliate of the Company within the meaning
of Rule 405 under the 1933 Act, (ii) it is not a broker-dealer tendering
Registrable Securities acquired directly from the Company or one of its
Affiliates for its own account, (iii) all of the Exchange Securities to be
received by it shall be acquired in the ordinary course of its business and
(iv) at the time of the consummation of the Exchange Offer it shall have no
arrangement or understanding with any Person to participate in the
distribution (within the meaning of the 1933 Act) of the Exchange Securities,
and shall have made such other representations as may be reasonably necessary
under applicable SEC rules, regulations or interpretations to render the use
of Form S-4 or other appropriate form under the 1933 Act available and (D)
that no action or proceeding shall have been instituted or threatened in any
court or by or before any governmental agency with respect to the Exchange
Offer which, in the Company's judgment, would reasonably be expected to
impair the ability of the Company to proceed with the Exchange Offer. The
Company shall use its reasonable best efforts to inform the Initial
Purchasers of the names and addresses of the Holders to whom the Exchange
Offer is made, and the Initial Purchasers shall have the right, subject to
applicable securities laws, to contact such Holders and otherwise facilitate
the tender of Registrable Securities in the Exchange Offer.

                  2.2 SHELF REGISTRATION. In the event that (A) the Company
reasonably determines that changes in law, SEC rules or regulations or
applicable interpretations thereof by the staff of the SEC do not permit the
Company to effect the Exchange Offer as contemplated by Section 2.1 hereof,
(B) for any other reason, the Exchange Offer is not consummated within 210
calendar days after the original issuance of the Securities or (C) an Initial
Purchaser notifies the Company within 20 Business Days following the
consummation of the Exchange Offer that (i) it is not permitted by applicable
law, SEC rules or regulations or applicable interpretations thereof

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by the staff of the SEC to participate in the Exchange Offer, (ii) it may not
resell Exchange Securities with the Prospectus included as part of the
Exchange Offer Registration Statement or (iii) it is a broker-dealer and owns
Registrable Securities acquired directly from the Company or one of the
Company's Affiliates, then in case of each of clauses (A) through (C) the
Company shall, at its cost, in lieu of effecting (or, in the case of clause
(C), in addition to effecting) the registration of the Exchange Securities
pursuant to the Exchange Offer Registration Statement:

                  (A) as promptly as practicable, file with the SEC, and
         thereafter shall use its reasonable best efforts to cause to be
         declared effective no later than 210 calendar days after the original
         issuance of the Securities, a Shelf Registration Statement relating to
         the offer and sale of the Registrable Securities by the Holders from
         time to time in accordance with the methods of distribution elected by
         the Majority Holders participating in the Shelf Registration and set
         forth in such Shelf Registration Statement;

                  (B) use its reasonable best efforts to keep the Shelf
         Registration Statement continuously effective in order to permit the
         Prospectus forming a part thereof to be usable by Holders for a period
         of two years from the date of the original issuance of the Securities,
         or for such shorter period that will terminate when all Registrable
         Securities covered by the Shelf Registration Statement (i) have been
         sold pursuant thereto or (ii) are distributed to the public pursuant to
         Rule 144 of the Securities Act or are saleable pursuant to Rule 144(k)
         under the Securities Act without any limitations under clauses (c),
         (e), (f) and (h) of Rule 144 (or any successor rule thereof); PROVIDED,
         HOWEVER, that the Company shall not be obligated to keep the Shelf
         Registration Statement effective or to permit the use of any Prospectus
         forming a part of the Shelf Registration Statement if (i) the Company
         determines, in its reasonable judgment, upon advice of counsel that the
         continued effectiveness and use of the Shelf Registration Statement
         would (x) require the disclosure of material information which the
         Company has a BONA FIDE business reason for preserving as confidential
         or (y) interfere with any financing, acquisition, corporate
         reorganization or other material transaction involving the Company or
         any of its subsidiaries; and PROVIDED, FURTHER, that the failure to
         keep the Shelf Registration Statement effective and usable for offers
         and sales of Registrable Securities for such reasons shall last no
         longer than 45 consecutive calendar days or no more than an aggregate
         of 90 calendar days during any consecutive twelve-month period
         (whereafter a Registration Default, as hereinafter defined, shall
         occur) and (ii) the Company promptly thereafter complies with the
         requirements of Section 3(K) hereof, if applicable; any such period
         during which the Company is excused from keeping the Shelf Registration
         Statement effective and usable for offers and sales of Registrable
         Securities is referred to herein as a "Suspension Period"; a Suspension
         Period shall commence on and include the date that the Company gives
         notice to the Holders that the Shelf Registration Statement is no
         longer effective or the Prospectus included therein is no longer usable
         for offers and sales of Registrable Securities as a result of the
         application of the proviso of the foregoing sentence and shall end on
         the earlier to occur of the date on which each seller of Registrable
         Securities covered by the Shelf Registration Statement either receives
         the copies of the supplemented or amended Prospectus contemplated by
         Section 3(K) hereof or is advised in writing by the Company that use of
         the Prospectus may be resumed; and

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                  (C) use its reasonable best efforts to ensure that (i) any
         Shelf Registration Statement and any amendment thereto and any
         Prospectus forming a part thereof and any supplement thereto complies
         in all material respects with the 1933 Act and the rules and
         regulations thereunder, (ii) any Shelf Registration Statement and any
         amendment thereto does not, when it becomes effective, contain an
         untrue statement of a material fact or omit to state a material fact
         required to be stated therein or necessary to make the statements
         therein not misleading and (iii) subject to Section 2.2(B) above, any
         Prospectus forming a part of any Shelf Registration Statement, and any
         supplement to such Prospectus (as amended or supplemented from time to
         time), does not include an untrue statement of a material fact or omit
         to state a material fact necessary in order to make the statements, in
         light of the circumstances under which they were made, not misleading.

         The Company shall not permit any securities other than Registrable
Securities to be included in the Shelf Registration Statement. The Company
further agrees, if necessary, to supplement or amend the Shelf Registration
Statement, as required by Section 3(B) below, and to furnish to the Holders
of Registrable Securities copies of any such supplement or amendment promptly
after its being used or filed with the SEC.

                  2.3 EXPENSES. The Company shall pay all Registration
Expenses in connection with the registration pursuant to Section 2.1 or 2.2
hereof. Each Holder shall pay all underwriting discounts and commissions and
transfer taxes, if any, relating to the sale or disposition of such Holder's
Registrable Securities pursuant to the Shelf Registration Statement.

                  2.4      EFFECTIVENESS.

                  (A) The Company will be deemed not to have used its
reasonable best efforts to cause the Exchange Offer Registration Statement or
the Shelf Registration Statement, as the case may be, to become, or to
remain, effective during the requisite period if the Company voluntarily
takes any action (other than any action specifically permitted by Section
2.2(B) hereof) that would, or omits to take any action which omission would,
result in any such Registration Statement not being declared effective or in
the Holders of Registrable Securities covered thereby not being able to
exchange or offer and sell such Registrable Securities during that period as
and to the extent contemplated hereby, unless such action is required by
applicable law.

                  (B) An Exchange Offer Registration Statement pursuant to
Section 2.1 hereof or a Shelf Registration Statement pursuant to Section 2.2
hereof will not be deemed to have become effective unless it has been
declared effective by the SEC; PROVIDED, HOWEVER, that if, after it has been
declared effective, the offering of Registrable Securities pursuant to an
Exchange Offer Registration Statement or a Shelf Registration Statement is
interfered with by any stop order, injunction or other order or requirement
of the SEC or any other governmental agency or court, such Registration
Statement will be deemed not to have become effective during the period of
such interference, until the offering of Registrable Securities pursuant to
such Registration Statement may legally resume.

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                  2.5      INTEREST. In the event that (A) the Exchange Offer
Registration Statement is not filed with the SEC on or prior to the 120th
calendar day following the date of original issuance of the Securities, (B)
the Exchange Offer Registration Statement is not declared effective on or
prior to the 180th calendar day following the date of original issuance of
the Securities, (C) the Exchange Offer is not consummated or a Shelf
Registration Statement is not declared effective, in either case, on or prior
to the 210th calendar day following the date of original issuance of the
Securities or (D) the Exchange Offer Registration Statement or the Shelf
Registration Statement is filed and declared effective but shall thereafter
either be withdrawn by the Company, except as specifically permitted by
Section 2.2(B) hereof, or becomes subject to an effective stop order
suspending the effectiveness of such registration statement, in each case,
without being succeeded within 30 calendar days by an amendment thereto or an
additional registration statement filed and declared effective (each such
event referred to in clauses (A) through (D) above, a "Registration
Default"), the interest rate borne by the Registrable Securities shall be
increased ("Additional Interest") by one-fourth of one percent (0.25%) per
annum upon the occurrence of each Registration Default, which rate will
increase by an additional one-fourth of one percent (0.25%) per annum if such
Registration Default has not been cured within 90 calendar days after
occurrence thereof and continuing until all Registration Defaults have been
cured, PROVIDED that the aggregate amount of any such increase in the
interest rate on the Registrable Securities shall in no event exceed one
percent (1.0%) per annum; and PROVIDED, FURTHER, that if the Exchange Offer
Registration Statement is not declared effective on or prior to the 180th
calendar day following the original issuance of the Securities and the
Company shall request Holders of Securities to provide information for
inclusion in the Shelf Registration Statement, then Registrable Securities
owned by Holders who do not deliver such information to the Company or who do
not provide comments on the Shelf Registration Statement when requested by
the Company will not be entitled to any such increase in the interest rate
for any calendar day after the 210th calendar day following the date of
original issuance of the Securities. All accrued Additional Interest shall be
paid to Holders of Registrable Securities in the same manner and at the same
time as regular payments of interest on the Registrable Securities. Following
the cure of all Registration Defaults, the accrual of Additional Interest
will cease and the interest rate on the Registrable Securities will revert to
the original rate.

         3.       REGISTRATION PROCEDURES. In connection with the obligations
of the Company with respect to Registration Statements pursuant to Sections
2.1 and 2.2 hereof, the Company shall:

                  (A)      prepare and file with the SEC a Registration
         Statement, within the relevant time period specified in Section 2, on
         the appropriate form under the 1933 Act, which form shall (i) be
         selected by the Company, (ii) in the case of a Shelf Registration, be
         available for the sale of the Registrable Securities by the selling
         Holders thereof and (iii) comply as to form in all material respects
         with the requirements of the applicable form and include or incorporate
         by reference all financial statements required by the SEC to be filed
         therewith or incorporated by reference therein, and use its reasonable
         best efforts to cause such Registration Statement to become effective
         and remain effective in accordance with Section 2 hereof;

                  (B)      prepare and file with the SEC such amendments and
         post-effective amendments to each Registration Statement as may be
         necessary under applicable law to

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         keep such Registration Statement effective for the applicable period;
         and cause each Prospectus to be supplemented by any required
         prospectus supplement, and as so supplemented to be filed pursuant to
         Rule 424 (or any similar provision then in force) under the 1933 Act
         and comply with the provisions of the 1933 Act, the 1934 Act and the
         rules and regulations thereunder applicable to them with respect to
         the disposition of all securities covered by each Registration
         Statement during the applicable period in accordance with the
         intended method or methods of distribution by the selling Holders
         thereof (including sales by any Participating Broker-Dealer);

                  (C)      in the case of a Shelf Registration, (i) notify each
         Holder of Registrable Securities, at least five Business Days prior to
         filing, that a Shelf Registration Statement with respect to the
         Registrable Securities is being filed and advising such Holders that
         the distribution of Registrable Securities will be made in accordance
         with the method selected by the Majority Holders participating in the
         Shelf Registration, (ii) furnish to each Holder of Registrable
         Securities and to each underwriter of an underwritten offering of
         Registrable Securities, if any, without charge, as many copies of each
         Prospectus, including each preliminary Prospectus, and any amendment or
         supplement thereto, and such other documents as such Holder or
         underwriter may reasonably request, including financial statements and
         schedules and, if the Holder so requests, all exhibits in order to
         facilitate the public sale or other disposition of the Registrable
         Securities and (iii) hereby consent to the use of the Prospectus or any
         amendment or supplement thereto by each of the selling Holders of
         Registrable Securities in connection with the offering and sale of the
         Registrable Securities covered by the Prospectus or any amendment or
         supplement thereto, save and except during any Suspension Period;

                  (D)      use its reasonable best efforts to register or
         qualify the Registrable Securities under such state securities or
         blue sky laws of such jurisdictions as any Holder of Registrable
         Securities covered by a Registration Statement and each underwriter
         of an underwritten offering of Registrable Securities shall
         reasonably request by the time the applicable Registration Statement
         is declared effective by the SEC, and do any and all other acts and
         things which may be reasonably necessary or advisable to enable each
         such Holder and underwriter to consummate the disposition in each
         such jurisdiction of such Registrable Securities owned by such
         Holder; PROVIDED, HOWEVER, that the Company shall not be required to
         (i) qualify as a foreign corporation or as a dealer in securities in
         any jurisdiction where it would not otherwise be required to qualify
         but for this Section 3(D) or (ii) take any action which would subject
         it to general service of process or taxation in any such jurisdiction
         where it is not then so subject;

                  (E)      notify promptly each Holder of Registrable Securities
         under a Shelf Registration or any Participating Broker-Dealer who has
         notified the Company that it is utilizing the Prospectus contained in
         the Exchange Offer Registration Statement as provided in Section 3(F)
         hereof and, if requested by such Holder or Participating Broker-Dealer,
         confirm such advice in writing promptly (i) when a Registration
         Statement has become effective and when any post-effective amendments
         and supplements thereto become effective, (ii) of any request by the
         SEC or any state securities authority for post-effective amendments and
         supplements to a Registration Statement and Prospectus or for

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         additional information after the Registration Statement has become
         effective, (iii) of the issuance by the SEC or any state securities
         authority of any stop order suspending the effectiveness of a
         Registration Statement or the initiation of any proceedings for that
         purpose, (iv) in the case of a Shelf Registration, if, between the
         effective date of the Shelf Registration Statement and the closing of
         any sale of Registrable Securities covered thereby, the representations
         and warranties of the Company contained in any underwriting agreement,
         securities sales agreement or other similar agreement, if any, relating
         to the offering cease to be true and correct in all material respects,
         (v) of the happening of any event or the discovery of any facts during
         the period the Shelf Registration Statement is effective which makes
         any statement made in such Registration Statement or the related
         Prospectus untrue in any material respect or which requires the making
         of any changes in such Registration Statement or Prospectus in order to
         make the statements therein not misleading, (vi) of the receipt by the
         Company of any notification with respect to the suspension of the
         qualification of the Registrable Securities or the Exchange Securities,
         as the case may be, for sale in any jurisdiction or the initiation or
         threatening of any proceeding for such purpose and (vii) of any
         determination by the Company that a post-effective amendment to a
         Registration Statement would be appropriate;

                  (F)      (1) in the case of the Exchange Offer Registration
         Statement (a) include in the Exchange Offer Registration Statement a
         section entitled "Plan of Distribution," which section shall be
         reasonably acceptable to BofA on behalf of the Participating
         Broker-Dealers, and which shall contain a summary statement of the
         positions taken or policies made by the staff of the SEC with respect
         to the potential "underwriter" status of any broker-dealer that holds
         Registrable Securities acquired for its own account as a result of
         market-making activities or other trading activities and that will be
         the beneficial owner (as defined in Rule 13d-3 under the Exchange Act)
         of Exchange Securities to be received by such broker-dealer in the
         Exchange Offer, including a statement that any such broker-dealer who
         receives Exchange Securities for Registrable Securities pursuant to the
         Exchange Offer may be deemed a statutory underwriter and must deliver a
         prospectus meeting the requirements of the 1933 Act in connection with
         any resale of such Exchange Securities, (b) furnish to each
         Participating Broker-Dealer who has delivered to the Company the notice
         referred to in Section 3(E), without charge, as many copies of each
         Prospectus included in the Exchange Offer Registration Statement,
         including any preliminary prospectus, and any amendment or supplement
         thereto, as such Participating Broker-Dealer may reasonably request,
         (c) hereby consent to the use of the Prospectus forming part of the
         Exchange Offer Registration Statement or any amendment or supplement
         thereto, by any Person subject to the prospectus delivery requirements
         of the SEC, including all Participating Broker-Dealers, in connection
         with the sale or transfer of the Exchange Securities covered by the
         Prospectus or any amendment or supplement thereto for up to 180
         calendar days following the Exchange Offer, save and except during any
         Suspension Period invoked with respect to such Prospectus and (d)
         include in the transmittal letter or similar documentation to be
         executed by an exchange offeree in order to participate in the Exchange
         Offer (i) the following provision:

                                      11

<PAGE>

                  "If the exchange offeree is a broker-dealer holding
                  Registrable Securities acquired for its own account as a
                  result of market-making activities or other trading
                  activities, it will deliver a prospectus meeting the
                  requirements of the 1933 Act in connection with any resale of
                  Exchange Securities received in respect of such Registrable
                  Securities pursuant to the Exchange Offer,"

         and (ii) a statement to the effect that by a broker-dealer making the
         acknowledgment described in clause (i) and by delivering a Prospectus
         in connection with the exchange of Registrable Securities, the
         broker-dealer will not be deemed to admit that it is an underwriter
         within the meaning of the 1933 Act; and (2) in the case of any Exchange
         Offer Registration Statement, the Company agrees to deliver to any
         Participating Broker-Dealers upon the effectiveness of the Exchange
         Offer Registration Statement (a) an opinion of counsel or opinions of
         counsel substantially in the form attached hereto as Exhibit A, (b)
         officers' certificates substantially in the form customarily delivered
         by the Company in its public offerings of debt securities and (c) a
         comfort letter or comfort letters in customary form to the extent
         permitted by Statement on Auditing Standards No. 72 of the American
         Institute of Certified Public Accountants (or if such a comfort letter
         is not permitted, an agreed upon procedures letter in customary form)
         from the Company's independent certified public accountants (and, if
         necessary, any other independent certified public accountants of any
         subsidiary of the Company or of any business acquired by the Company
         for which financial statements are, or are required to be, included in
         the Registration Statement) at least as broad in scope and coverage as
         the comfort letter or comfort letters delivered to the Initial
         Purchasers in connection with the initial sale of the Securities to the
         Initial Purchasers;

                  (G)      (i) in the case of an Exchange Offer, furnish counsel
         for the Initial Purchasers and (ii) in the case of a Shelf
         Registration, furnish counsel for the Holders of Registrable
         Securities, copies of any comment letters received from the SEC or
         any other request by the SEC or any state securities authority for
         amendments or supplements to a Registration Statement and Prospectus
         or for additional information;

                  (H)      make every reasonable effort to obtain the withdrawal
         of any order suspending the effectiveness of a Registration Statement
         as soon as practicable and provide prompt notice to legal counsel for
         the Holders of the withdrawal of any such order;

                  (I)      in the case of a Shelf Registration, furnish to each
         Holder of Registrable Securities, and each underwriter, if any, without
         charge, at least one conformed copy of each Registration Statement and
         any post-effective amendment thereto, including financial statements
         and schedules (without documents incorporated therein by reference and
         all exhibits thereto, unless requested);

                  (J)      in the case of a Shelf Registration, cooperate with
         the selling Holders of Registrable Securities to facilitate the timely
         preparation and delivery of certificates representing Registrable
         Securities to be sold to the extent not held with the Depositary

                                      12

<PAGE>

         through Cede & Co., to remove any restrictive legends, and enable such
         Registrable Securities to be in such denominations (consistent with the
         provisions of the Indenture) and registered in such names as the
         selling Holders or the underwriters, if any, may reasonably request at
         least three Business Days prior to the closing of any sale of
         Registrable Securities;

                  (K)      in the case of a Shelf Registration, upon the
         occurrence of any event or the discovery of any facts, each as
         contemplated by Sections 3(E)(ii), (iii), (v), (vi) and (vii) hereof
         and subject to the provisions of the paragraph immediately following
         Section 3(T) hereof, as promptly as practicable after the occurrence
         of such an event, use its reasonable best efforts to prepare a
         supplement or post-effective amendment to the Registration Statement
         or the related Prospectus or any document incorporated therein by
         reference or file any other required document so that, as thereafter
         delivered to the purchasers of the Registrable Securities or
         Participating Broker-Dealers, such Prospectus will not contain at the
         time of such delivery any untrue statement of a material fact or omit
         to state a material fact necessary to make the statements therein, in
         light of the circumstances under which they were made, not misleading
         or will remain so qualified. At such time as such public disclosure
         is otherwise made or the Company determines that such disclosure is
         not necessary, in each case to correct any misstatement of a material
         fact or to include any omitted material fact, the Company agrees
         promptly to notify each Holder of such determination and to furnish
         each Holder such number of copies of the Prospectus as amended or
         supplemented, as such Holder may reasonably request;

                  (L)      obtain a CUSIP number for all Exchange Securities or
         Registrable Securities, as the case may be, not later than the
         effective date of a Registration Statement, and provide the Trustee
         with certificates for the Exchange Securities or the Registrable
         Securities, as the case may be, in a form eligible for deposit with the
         Depositary;

                  (M)      unless the Indenture, as its relates to the Exchange
         Securities or the Registrable Securities, as the case may be, has
         already been so qualified, use its best efforts to (i) cause the
         Indenture to be qualified under the TIA in connection with the
         registration of the Exchange Securities or Registrable Securities, as
         the case may be, (ii) cooperate with the Trustee and the Holders to
         effect such changes to the Indenture as may be required for the
         Indenture to be so qualified in accordance with the terms of the TIA
         and (iii) execute, and use its best efforts to cause the Trustee to
         execute, all documents as may be required to effect such changes, and
         all other forms and documents required to be filed with the SEC to
         enable the Indenture to be so qualified in a timely manner;

                  (N)      in the case of a Shelf Registration, enter into
         agreements (including underwriting agreements) and take all other
         customary and appropriate actions in order to expedite or facilitate
         the disposition of such Registrable Securities and in such connection
         whether or not an underwriting agreement is entered into and whether
         or not the registration is an underwritten registration:

                                      13

<PAGE>

                           (i)    make such representations and warranties to
                  the Holders of such Registrable Securities and the
                  underwriters, if any, in form, substance and scope as has been
                  customarily made by the Company to underwriters in similar
                  offerings of debt securities of the Company;

                           (ii)   obtain opinions of counsel of the Company and
                  updates thereof (which counsel and opinions (in form, scope
                  and substance) shall be reasonably satisfactory to the
                  managing underwriters, if any, and the Holders of a majority
                  in principal amount of the Registrable Securities being sold)
                  addressed to each selling Holder and the underwriters, if any,
                  covering the matters customarily covered in opinions requested
                  in sales of securities or underwritten offerings of the
                  Company;

                           (iii)  obtain "cold comfort" letters and updates
                  thereof from the Company's independent certified public
                  accountants (and, if necessary, any other independent
                  certified public accountants of any subsidiary of the Company
                  or of any business acquired by the Company for which financial
                  statements are, or are required to be, included in the
                  Registration Statement) addressed to the underwriters, if any,
                  and use reasonable efforts to have such letter addressed to
                  the selling Holders of Registrable Securities (to the extent
                  consistent with Statement on Auditing Standards No. 72 of the
                  American Institute of Certified Public Accounts), such letters
                  to be in customary form and covering matters of the type
                  customarily covered in "cold comfort" letters to underwriters
                  in connection with similar underwritten offerings of the
                  Company;

                           (iv)   if an underwriting agreement is entered into,
                  cause the same to set forth indemnification provisions and
                  procedures substantially equivalent to the indemnification
                  provisions and procedures set forth in Section 4 hereof with
                  respect to the underwriters and all other parties to be
                  indemnified pursuant to said Section; and

                           (v)    deliver such documents and certificates as may
                  be reasonably requested and as are customarily delivered in
                  similar offerings to the Holders of a majority in principal
                  amount of the Registrable Securities being sold and the
                  managing underwriters, if any;

         the above shall be done at (i) the effectiveness of such Registration
         Statement (and each post-effective amendment thereto) and (ii) each
         closing under any underwriting or similar agreement as and to the
         extent required thereunder;

                  (O)      in the case of a Shelf Registration or if a
         Prospectus is required to be delivered by any Participating
         Broker-Dealer in the case of an Exchange Offer, make available for
         inspection by representatives of the Holders of the Registrable
         Securities, any underwriters participating in any disposition
         pursuant to a Shelf Registration Statement, any Participating
         Broker-Dealer and any counsel or accountant retained by any of the
         foregoing, all financial and other records, pertinent corporate
         documents and

                                      14

<PAGE>

         properties of the Company reasonably requested by any such persons,
         and cause the respective officers, directors, employees and any other
         agents of the Company to supply all information reasonably requested
         by any such representative, underwriter, special counsel or
         accountant in connection with a Registration Statement, and make such
         representatives of the Company available for discussion of such
         documents as shall be reasonably requested by the Initial Purchasers;
         PROVIDED, HOWEVER, that such persons shall first agree in writing
         with the Company that any information that is reasonably and in good
         faith designated by the Company in writing as confidential at the
         time of delivery of such information shall be kept confidential by
         such persons, unless (i) disclosure of such information is required
         by court or administrative order or is necessary to respond to
         inquiries of regulatory authorities, (ii) disclosure of such
         information is required by law (including any disclosure requirements
         pursuant to federal securities laws in connection with the filing of
         the Shelf Registration Statement or the use of any Prospectus), (iii)
         such information becomes generally available to the public other than
         as a result of a disclosure or failure to safeguard such information
         by such persons or (iv) such information becomes available to such
         persons from a source other than the Company and its subsidiaries and
         such source is not known by such persons to be bound by a
         confidentiality agreement; and PROVIDED, FURTHER, that the foregoing
         inspection and information gathering shall be coordinated by (x) the
         managing underwriter in connection with any underwritten offering
         pursuant to a Shelf Registration, (y) the Holder designated by the
         Majority Holders in connection with any nonunderwritten offering
         pursuant to a Shelf Registration or (z) the Participating
         Broker-Dealer holding the largest amount of Registrable Securities in
         the case of use of a Prospectus included in the Exchange Offer
         Registration Statement, together with one counsel designated by and
         on behalf of such persons;

                  (P)      (i) in the case of an Exchange Offer Registration
         Statement, a reasonable time prior to the filing of any Exchange Offer
         Registration Statement, any Prospectus forming a part thereof, any
         amendment to an Exchange Offer Registration Statement or amendment or
         supplement to such Prospectus, provide copies of such document to the
         Initial Purchasers and to counsel to the Holders of Registrable
         Securities and make such changes in any such document prior to the
         filing thereof as the Initial Purchasers or counsel to the Holders of
         Registrable Securities may reasonably request and, except as otherwise
         required by applicable law, not file any such document in a form to
         which the Initial Purchasers on behalf of the Holders of Registrable
         Securities and counsel to the Holders of Registrable Securities shall
         not have previously been advised and furnished a copy of or to which
         the Initial Purchasers on behalf of the Holders of Registrable
         Securities or counsel to the Holders of Registrable Securities shall
         reasonably object (which objection shall be made within a reasonable
         period of time), and make the representatives of the Company available
         for discussion of such documents as shall be reasonably requested by
         the Initial Purchasers; and (ii) in the case of a Shelf Registration, a
         reasonable time prior to filing any Shelf Registration Statement, any
         Prospectus forming a part thereof, any amendment to such Shelf
         Registration Statement or amendment or supplement to such Prospectus,
         provide copies of such document to the Holders of Registrable
         Securities, to the Initial Purchasers, to counsel for the Holders and
         to the underwriter or underwriters of an underwritten offering of
         Registrable Securities, if

                                      15

<PAGE>

         any, make such changes in any such document prior to the filing
         thereof as the Initial Purchasers, the counsel to the Holders or the
         underwriter or underwriters reasonably request and not file any such
         document in a form to which the Majority Holders, the Initial
         Purchasers on behalf of the Holders of Registrable Securities,
         counsel for the Holders of Registrable Securities or any underwriter
         shall not have previously been advised and furnished a copy of or to
         which the Majority Holders, the Initial Purchasers on behalf of the
         Holders of Registrable Securities, counsel to the Holders of
         Registrable Securities or any underwriter shall reasonably object
         (which objection shall be made within a reasonable period of time),
         and make the representatives of the Company available for discussion
         of such document as shall be reasonably requested by the Holders of
         Registrable Securities, the Initial Purchasers on behalf of such
         Holders, counsel for the Holders of Registrable Securities or any
         underwriter;

                  (Q)      in the case of a Shelf Registration, use its
         reasonable best efforts to cause the Registrable Securities to be
         rated by the appropriate rating agencies, if so requested by the
         Majority Holders, or if requested by the underwriter or underwriters
         of an underwritten offering of Registrable Securities, if any, unless
         the Exchange Securities or the Registrable Securities, as the case
         may be, are already so rated or unless the Company has obtained such
         ratings for its long-term debt securities generally;

                  (R)      otherwise comply with all applicable rules and
         regulations of the SEC and make available to its security holders, as
         soon as reasonably practicable, an earnings statement covering at
         least 12 months which shall satisfy the provisions of Section 11(a)
         of the 1933 Act and Rule 158 thereunder;

                  (S)      cooperate and assist in any filings required to be
         made with the NASD and, in the case of a Shelf Registration, in the
         performance of any due diligence investigation by any underwriter and
         its counsel (including any "qualified independent underwriter" that is
         required to be retained in accordance with the rules and regulations of
         the NASD); and

                  (T)      upon consummation of an Exchange Offer, obtain a
         customary opinion of counsel to the Company addressed to the Trustee
         for the benefit of all Holders of Registrable Securities
         participating in the Exchange Offer, and which includes an opinion
         substantially to the effect that (i) the Company has duly authorized,
         executed and delivered the Exchange Securities and the related
         supplemental indenture and (ii) each of the Exchange Securities and
         related indenture constitute a legal, valid and binding obligation of
         the Company, enforceable against the Company in accordance with its
         respective terms (with customary exceptions).

         In the case of a Shelf Registration Statement, the Company may (as a
condition to such Holder's participation in the Shelf Registration) require
each Holder of Registrable Securities to furnish to the Company such
information regarding the Holder and the proposed distribution by such Holder
of such Registrable Securities as the Company may from time to time reasonably
request in writing.

                                      16

<PAGE>

         In the case of a Shelf Registration Statement, each Holder agrees,
and in the case of the Exchange Offer Registration Statement, each
Participating Broker-Dealer agrees, that, upon receipt of any notice from the
Company of (a) the happening of any event or the discovery of any facts, each
of the kind described in Sections 3(E)(ii), (iii), (iv) or (v) hereof or (b)
the Company's determination, in its reasonable judgment, upon advice of
counsel, that the continued effectiveness and use of the Shelf Registration
Statement or the Prospectus included in the Shelf Registration Statement or
the Exchange Offer Registration Statement would (x) require the disclosure of
material information, which the Company has a BONA FIDE business reason for
preserving as confidential, or (y) interfere with any financing, acquisition,
corporate reorganization or other material transaction involving the Company
or any of its subsidiaries, such Holder or Participating Broker-Dealer, as the
case may be, will forthwith discontinue disposition of Registrable Securities
pursuant to such Registration Statement or Prospectus until the receipt by
such Holder or Participating Broker-Dealer, as the case may be, of either
copies of the supplemented or amended Prospectus contemplated by Section 3(K)
hereof, and, if so directed by the Company, such Holder or Participating
Broker-Dealers will deliver to the Company (at its expense) all copies in its
possession of the Prospectus covering such Registrable Securities current at
the time of receipt of such notice, or notice in writing from the Company that
such Holder or Participating Broker-Dealers may resume disposition of
Registrable Securities pursuant to such Registration Statement or Prospectus.
If the Company shall give any such notice described in clause (a) above to
suspend the disposition of Registrable Securities pursuant to a Registration
Statement as a result of the happening of any event or the discovery of any
facts, each of the kind described in Sections 3(E)(ii), (iii), (iv) and (v)
hereof, the Company shall be deemed to have used its reasonable best efforts
to keep such Registration Statement effective during such Suspension Period
provided that the Company shall use its reasonable best efforts to file and
have declared effective (if an amendment) as soon as practicable an amendment
or supplement to such Registration Statement. The Company shall extend the
period during which such Registration Statement shall be maintained effective
or the Prospectus used pursuant to this Agreement by the number of calendar
days during the period from and including the date of the giving of the notice
described in clauses (a) and (b) above to and including the date when the
Holders or Participating Broker-Dealers shall have received copies of the
supplemented or amended Prospectus necessary to resume such dispositions or
notification that they may resume such disposition under an existing
Prospectus.

         If any of the Registrable Securities covered by any Shelf
Registration Statement are to be sold in an underwritten offering, the
underwriter or underwriters and manager or managers that will manage such
offering will be selected by the Majority Holders of such Registrable
Securities included in such offering and shall be acceptable to the Company.
No Holder of Registrable Securities may participate in any underwritten
registration hereunder unless such Holder (a) agrees to sell such Holder's
Registrable Securities on the basis provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and
(b) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements and other documents required under the
terms of such underwriting arrangements.

                                      17

<PAGE>

         4.       INDEMNIFICATION; CONTRIBUTION.

                  (A) In the event of a Shelf Registration Statement or in
connection with any prospectus delivery pursuant to an Exchange Offer
Registration Statement by an Initial Purchaser or Participating
Broker-Dealer, the Company agrees to indemnify and hold harmless the Initial
Purchasers, each Holder, each Participating Broker-Dealer, each Person who
participates as an underwriter (any such Person being an "Underwriter") and
each Person, if any, who controls any Initial Purchaser, Holder,
Participating Broker-Dealer or Underwriter within the meaning of Section 15
of the 1933 Act or Section 20 of the 1934 Act (collectively, the "Section 4
Persons"), against any losses, claims, damages, liabilities or expenses
(including the reasonable cost of investigating and defending against any
claims therefore and counsel fees incurred in connection therewith), joint or
several, which may be based upon either the 1933 Act, or the 1934 Act, or any
other statute or at common law, on the ground or alleged ground that any
Registration Statement (or any amendment or supplement thereto) pursuant to
which Exchange Securities or Registrable Securities were registered under the
1933 Act or any Prospectus included therein (or any amendment or supplement
thereto) included or allegedly included an untrue statement of material fact
or omitted to state a material fact required to be stated therein or
necessary in order to make the statements therein not misleading, unless such
statement or omission was made in reliance upon, and in conformity with,
written information furnished to the Company by any such Section 4 Person
specifically for use in the preparation thereof; PROVIDED that in no case is
the Company to be liable with respect to any claims made against any Section
4 Person unless such Section 4 Person shall have notified the Company in
writing within a reasonable time after the summons or other first legal
process giving information of the nature of the claim shall have been served
upon such Section 4 Person, but failure to notify the Company of any such
claim shall not relieve it from any liability which it may have to such
Section 4 Person otherwise than on account of the indemnity agreement
contained in this paragraph; and PROVIDED, FURTHER, that the foregoing
indemnity with respect to any Prospectus, including any preliminary
prospectus or preliminary prospectus supplement, shall not inure to the
benefit of any Section 4 Person if a copy of the Prospectus (as amended or
supplemented) at the time of sale had not been sent or given by or on behalf
of such Section 4 Person to the Person asserting any such losses, claims,
damages or liabilities concurrently with or prior to delivery of the written
confirmation of the sale of Exchange Securities or Registrable Securities, as
the case may be, to such Person and the untrue statement or omission of a
material fact contained in any such Prospectus was corrected in the
Prospectus (as amended or supplemented).

                  The Company will be entitled to participate at its own
expense in the defense, or, if it so elects, to assume the defense of any
suit brought to enforce any such liability, but, if the Company elects to
assume the defense, such defense shall be conducted by counsel chosen by it.
In the event that the Company elects to assume the defense of any such suit
and retains such counsel, each Section 4 Person may retain additional counsel
but shall bear the fees and expenses of such counsel unless (i) the Company
shall have specifically authorized the retaining of such counsel or (ii) the
parties to such suit have been advised by such counsel that one or more legal
defenses may be available to it or them which may not be available to the
Company, in which case the Company shall not be entitled to assume the
defense of such suit on behalf of such Section 4 Person, notwithstanding
their obligation to bear the reasonable fees and expenses of such counsel, it
being understood, however, that the Company shall not, in connection with any

                                       18

<PAGE>

one such suit or proceeding or separate but substantially similar or related
actions or proceedings in the same jurisdiction arising out of the same
general allegations or circumstances, be liable for the reasonable fees and
expenses of more than one separate firm of attorneys at any time for all such
Section 4 Persons, which firm shall be designated in writing by BofA. The
Company shall not be liable to indemnify any Person for any settlement of any
such claim effected without the Company's consent. This indemnity agreement
will be in addition to any liability, which the Company might otherwise have.

                  (B) Each Section 4 Person agrees to indemnify and hold
harmless the Company, each of the Company's directors, each of the Company's
officers who have signed the Registration Statement and each person, if any,
who controls the Company within the meaning of the 1933 Act or the 1934 Act,
against any losses, claims, damages, liabilities or expenses (including the
reasonable cost of investigating and defending against any claims therefor
and counsel fees incurred in connection therewith), joint or several, which
may be based upon the 1933 Act, or any other statute or at common law, on the
ground or alleged ground that any Registration Statement (or any amendment or
supplement thereto) pursuant to which Exchange Securities or Registrable
Securities were registered under the 1933 Act or any Prospectus included
therein (or any amendment or supplement thereto) included or allegedly
included an untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary in order to make the
statements therein not misleading, but only insofar as any such statement or
omission was made in reliance upon, and in conformity with, written
information furnished to the Company by such Section 4 Person specifically
for use in the preparation thereof; PROVIDED that in no case is such Section
4 Person to be liable with respect to any claims made against the Company or
any such director, officer or controlling person unless the Company or any
such director, officer or controlling person shall have notified such Section
4 Person in writing within a reasonable time after the summons or other first
legal process giving information of the nature of the claim shall have been
served upon the Company or any such director, officer or controlling person,
but failure to notify such Section 4 Person of any such claim shall not
relieve it from any liability which it may have to the Company or any such
director, officer or controlling person otherwise than on account of the
indemnity agreement contained in this paragraph.

                  Such Section 4 Person will be entitled to participate at
its own expense in the defense, or, if it so elects, to assume the defense of
any suit brought to enforce any such liability, but, if such Section 4 Person
elects to assume the defense, such defense shall be conducted by counsel
chosen by it. In the event that such Section 4 Person elects to assume the
defense of any such suit and retain such counsel, the Company or such
director, officer or controlling person, defendant or defendants in the suit,
may retain additional counsel but shall bear the fees and expenses of such
counsel unless (i) such Section 4 Person shall have specifically authorized
the retaining of such counsel or (ii) the parties to such suit include the
Company or any such director, officer or controlling person and such Section
4 Person and the Company or such director, officer, trustee or controlling
person have been advised by such counsel that one or more legal defenses may
be available to it or them which may not be available to such Section 4
Person, in which case such Section 4 Person shall not be entitled to assume
the defense of such suit on behalf of the Company or such director, officer
or controlling person, notwithstanding its obligation to bear the reasonable
fees and expenses of such counsel, it being understood, however, that such
Section 4 Person shall not, in connection with any one such suit or

                                       19

<PAGE>

proceeding or separate but substantially similar or related actions or
proceedings in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses
of more than one separate firm of attorneys at any time for all of the
Company and any such director, officer or controlling person, which firm
shall be designated in writing by the Company. Such Section 4 Person shall
not be liable to indemnify any person for any settlement of any such claim
effected without such Section 4 Person's consent. This indemnity agreement
will be in addition to any liability which such Section 4 Person might
otherwise have.

                  (C) If recovery is not available under Section 4(A) or 4(B)
hereof, for any reason other than as specified therein, the Persons entitled
to indemnification by the terms thereof shall be entitled to contribution for
liabilities and expenses, except to the extent that contribution is not
permitted under Section 1l(f) of the 1933 Act. In determining the amount of
contribution to which the respective Persons are entitled, there shall be
considered (i) the benefits received by the Company, on the one hand, from
the offering of the Securities and such Section 4 Person, on the other hand,
from the sale of its Securities, Exchange Securities or Registrable
Securities, as the case may be, (ii) the parties' relative knowledge and
access to information concerning the matter with respect to which the claim
was asserted, (iii) the opportunity to correct and prevent any statement or
omission and (iv) any other equitable considerations appropriate under the
circumstances. The Company and the Section 4 Persons agree that it would not
be equitable if the amount of such contribution were determined by pro rata
or per capita allocation (even if the Section 4 Persons were treated as one
entity for such purpose). No Section 4 Person shall be obligated to make such
contribution hereunder which in the aggregate exceeds the total public
offering price of its Exchange Securities and/or Registrable Securities
registered under the Registration Statement, less the aggregate amount of any
damages which such Section 4 Person has otherwise been required to pay in
respect of the same claim or any substantially similar claim. Any Section 4
Person's obligations to contribute under this Section 4 are several in
proportion to the aggregate principal amount of such Section 4 Person's
Registrable or Exchange Securities, as the case may be, that were registered
pursuant to such Registration Statement, and not joint.

         5.       MISCELLANEOUS.

                  5.1 RULE 144 AND RULE 144A. For so long as the Company is
subject to the reporting requirements of Section 13 or 15 of the 1934 Act,
the Company covenants that it will file the reports required to be filed by
it under the 1933 Act and Section 13(a) or 15(d) of the 1934 Act and the
rules and regulations adopted by the SEC thereunder. If the Company ceases to
be so required to file such reports, the Company covenants that it will upon
the request of any Holder of Registrable Securities (A) make publicly
available such information as is necessary to permit sales pursuant to Rule
144 under the 1933 Act, (B) deliver such information to a prospective
purchaser as is necessary to permit sales pursuant to Rule 144A under the
1933 Act and (C) take such further action that is reasonable in the
circumstances, in each case, to the extent required from time to time to
enable such Holder to sell its Registrable Securities without registration
under the 1933 Act within the limitation of the exemptions provided by (i)
Rule 144 under the 1933 Act, as such Rule may be amended from time to time,
(ii) Rule 144A under the 1933 Act, as such Rule may be amended from time to
time or (iii) any similar rules or

                                       20

<PAGE>

regulations hereafter adopted by the SEC. Upon the request of any Holder of
Registrable Securities, the Company will deliver to such Holder a written
statement as to whether it has complied with such requirements.

                  5.2 NO INCONSISTENT AGREEMENTS. The Company has not entered
into and the Company will not after the date of this Agreement enter into any
agreement which is inconsistent with the rights granted to the Holders of
Registrable Securities in this Agreement or otherwise conflicts with the
provisions hereof. The rights granted to the Holders hereunder do not and
will not for the term of this Agreement in any way conflict with the rights
granted to the holders of the Company's other issued and outstanding
securities under any such agreements.

                  5.3 AMENDMENTS AND WAIVERS. The provisions of this
Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the
provisions hereof may not be given unless the Company has obtained the
written consent of Holders of at least a majority in aggregate principal
amount of the outstanding Registrable Securities affected by such amendment,
modification, supplement, waiver or departure.

                  5.4 NOTICES. All notices and other communications provided
for or permitted hereunder shall be made in writing by hand delivery,
registered first-class mail, telex, telecopier, or any courier guaranteeing
overnight delivery (a) if to a Holder, at the most current address given by
such Holder to the Company by means of a notice given in accordance with the
provisions of this Section 5.4, which address initially is the address set
forth in the Purchase Agreement with respect to the Initial Purchasers; and
(b) if to the Company, initially at the Company's address set forth in the
Purchase Agreement, and thereafter at such other address of which notice is
given in accordance with the provisions of this Section 5.4.

                  All such notices and communications shall be deemed to have
been duly given: at the time delivered by hand, if personally delivered; two
Business Days after being deposited in the mail, postage prepaid, if mailed;
when receipt is acknowledged, if telecopied; and on the next Business Day if
timely delivered to an air courier guaranteeing overnight delivery.

                  Copies of all such notices, demands or other communications
shall be concurrently delivered by the person giving the same to the Trustee
under the Indenture, at the address specified in such Indenture.

                  5.5 SUCCESSOR AND ASSIGNS. This Agreement shall inure to
the benefit of and be binding upon the successors, assigns and transferees of
each of the parties, including, without limitation and without the need for
an express assignment, subsequent Holders; PROVIDED that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of
Registrable Securities in violation of the terms of the Purchase Agreement or
the Indenture. If any transferee of any Holder shall acquire Registrable
Securities, in any manner, whether by operation of law or otherwise, such
Registrable Securities shall be held subject to all of the terms of this
Agreement, and by taking and holding such Registrable Securities such person
shall be conclusively deemed to have agreed to be bound by and to perform all
of the terms and provisions of this Agreement, including the restrictions on
resale set forth in this Agreement and,

                                       21

<PAGE>

if applicable, the Purchase Agreement, and such person shall be entitled to
receive the benefits hereof.

                  5.6 THIRD PARTY BENEFICIARIES. The Initial Purchasers (even
if the Initial Purchasers are not Holders of Registrable Securities) shall be
third party beneficiaries to the agreements made hereunder between the
Company, on the one hand, and the Holders, on the other hand, and shall have
the right to enforce such agreements directly to the extent they deem such
enforcement necessary or advisable to protect their rights or the rights of
Holders hereunder. Each Holder of Registrable Securities shall be a third
party beneficiary to the agreements made hereunder between the Company, on
the one hand, and the Initial Purchasers, on the other hand, and shall have
the right to enforce such agreements directly to the extent it deems such
enforcement necessary or advisable to protect its rights hereunder.

                  5.7 SPECIFIC PERFORMANCE. Without limiting the remedies
available to the Initial Purchasers and the Holders, the Company acknowledges
that any failure by the Company to comply with its obligations under Sections
2.1 through 2.4 hereof may result in material irreparable injury to the
Initial Purchasers or the Holders for which there is no adequate remedy at
law, that it would not be possible to measure damages for such injuries
precisely and that, in the event of any such failure, the Initial Purchasers
or any Holder may obtain such relief as may be required to specifically
enforce the Company's obligations under Sections 2.1 through 2.4 hereof.

                  5.8 RESTRICTION ON RESALES. Until the expiration of two
years after the original issuance of the Securities, the Company will not,
and will cause its "affiliates" (as such term is defined in Rule 144(a)(1)
under the 1933 Act) not to, resell any Securities which are "restricted
securities" (as such term is defined under Rule 144(a)(3) under the 1933 Act)
that have been reacquired by any of them and shall immediately upon any
purchase of any such Securities submit such Securities to the Trustee for
cancellation.

                  5.9 COUNTERPARTS. This Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.

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

                  5.11 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS THEREOF.

                  5.12 SEVERABILITY. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance,
is held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired
thereby.

                                       22

<PAGE>

                                       23
<PAGE>

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

                                     RELIANT ENERGY RESOURCES CORP.

                                     By: /s/ Marc Kilbride
                                        ---------------------------
                                     Name:  Marc Kilbride
                                     Title: Treasurer

CONFIRMED AND ACCEPTED
AS OF THE DATE FIRST ABOVE WRITTEN:

BANC OF AMERICA SECURITIES LLC
CREDIT SUISSE FIRST BOSTON CORPORATION
DEUTSCHE BANK SECURITIES INC.

BY:      BANC OF AMERICA SECURITIES LLC

By: /s/ Lynn T. McConnell
   ------------------------------------
         Name:  Lynn T. McConnell
         Title: Managing Director

         On behalf of each of the Initial Purchasers

                                       24

<PAGE>

                                                                       EXHIBIT A

                           FORM OF OPINION OF COUNSEL

         The Indenture has been duly qualified under the Trust Indenture Act
of 1939, as amended.

         The Registration Statement has become effective under the 1933 Act,
and, to the best of our knowledge, no stop order suspending the effectiveness
of the Registration Statement or any part thereof has been issued and no
proceedings for that purpose have been instituted and are pending or are
threatened by the SEC under the 1933 Act.

         The Exchange Offer Registration Statement and the Prospectus (except
for (A) the operating statistics, financial statements, pro forma financial
statements and financial statement schedules contained or incorporated by
reference therein (including the auditors' reports on the financial
statements and the notes to the financial statements), (B) the other
financial and statistical information contained or incorporated by reference
therein and (C) the exhibits thereto, as to which we have not been asked to
comment) comply as to form in all material respects with the applicable
requirements of the 1933 Act and the applicable rules and regulations
promulgated under the 1933 Act.

         We have participated in conferences with certain officers and other
representatives of the Company, representatives of the independent public
accountants of the Company, representatives of the [Initial Purchasers]
[Holders] and counsel for the [Initial Purchasers] [Holders], at which the
contents of the Registration Statement and the Prospectus and related matters
were discussed. Although we have not undertaken to determine independently,
and do not assume any responsibility for, the accuracy, completeness or
fairness of the statements contained in or incorporated by reference in the
Registration Statement or the Prospectus, we advise you that, on the basis of
the foregoing (relying as to materiality to a large extent upon statements
and other representations of officers and other representatives of the
Company), no facts have come to our attention that lead us to believe that
the Registration Statement and any amendment made thereto prior to the date
hereof (except for (A) the operating statistics, financial statements, pro
forma financial statements and financial statement schedules contained or
incorporated by reference therein (including the auditors' reports on the
financial statements and the notes to the financial statements, except to the
extent that such notes describe legal or governmental proceedings to which
the Company is a party and are incorporated by reference into one or more
items of a report that is incorporated by reference in the Registration
Statement or the Prospectus, other than an item that requires that financial
statements be provided), (B) the other financial and statistical information
contained or incorporated by reference therein and (C) the exhibits thereto,
as to which we have not been asked to comment), as of the time the
Registration Statement became effective or such amendment was filed,
contained any untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary to make the
statements therein not misleading, or that the Prospectus, and any amendment
or supplement thereto made prior to the date hereof (except for (A) the
operating statistics, financial statements,

                                       25

<PAGE>

pro forma financial statements and financial statement schedules contained or
incorporated by reference therein (including the auditors' reports on the
financial statements and the notes to the financial statements, except to the
extent that such notes describe legal or governmental proceedings to which
the Company is a party and are incorporated by reference into one or more
items of a report that is incorporated by reference in the Registration
Statement or the Prospectus, other than an item that requires that financial
statements be provided), (B) the other financial and statistical information
contained or incorporated by reference therein and (C) the exhibits thereto,
as to which we have not been asked to comment), as of the date of the
Prospectus or such amendment or supplement contained any untrue statement of
a material fact or omitted to state a material fact necessary in order to
make the statements therein, in light of the circumstances under which they
were made, not misleading.

                                       26<PAGE>

                                                                    EXHIBIT 10.1

                          MANAGEMENT SERVICES AGREEMENT

     THIS MANAGEMENT SERVICES AGREEMENT (this "Agreement") is made as of this
30th day of October, 2000 (the "Effective Date"), by and between FMiTV Networks,
Inc., a Delaware corporation ("FMiTV"), and Entertainment Boulevard, Inc., a
Nevada corporation ("Entertainment Boulevard").

     WHEREAS, FMiTV operates an online entertainment network of websites
accessible at http://www.FMiTV.com;

     WHEREAS, Entertainment Boulevard operates internet websites accessible at
http://www.vidnet.com; and

     WHEREAS, FMiTV desires to provide to Entertainment Boulevard, and
Entertainment Boulevard desires to receive from FMiTV, under the terms and
conditions of this Agreement, management services for all aspects of
Entertainment Boulevard internet sites to expand the ability of both parties to
generate advertising and merchandise offerings and syndicated content in the
United States and abroad.

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

                                    ARTICLE I
                                   DEFINITIONS

     When used in this Agreement, the following capitalized terms shall have the
following meanings ascribed to such terms:

     "Advertising" shall be defined to mean any advertisements including, but
not limited to, banner advertisements on the FMiTV Site (except advertising
appearing on third party channels), and ad tags on messages featuring
Entertainment Boulevard Content.

     "Budget" means the budget prepared by FMiTV and attached hereto as Exhibit
"A" reflecting operating expenses and projected revenues in connection with the
Entertainment Boulevard Channel. FMiTV may revise the Budget quarterly as
specified in Section 2.7 herein.

     "Channel" means one or more areas on the FMiTV Network dedicated to or
using specific Content.

     "Closing" means the consummation of the transactions contemplated in this
Agreement.

<PAGE>

     "Content" means text, graphics, photographs, animation, characters,
illustrations, features, recordings, video, audio, CD-ROMS, proprietary software
packages, tools and systems, and/or other data or information relating to any
subject, including, without limitation, data or information relating to
subscribers.

     "Contracts" of a Person shall mean all contracts, agreements, warranties,
guaranties, indentures, bonds, options, leases, subleases, easements, mortgages,
plans, collective bargaining agreements, licenses, commitments or binding
arrangements of any nature whatsoever, express or implied, written or unwritten,
and all amendments thereto, entered into or binding upon that Person or to which
any property of that Person may be subject.

     "Entertainment Boulevard Channel" means the area on the FMiTV Network
dedicated to Entertainment Boulevard Content established and operated pursuant
to Section 2.1.

     "Entertainment Boulevard Content" means Content of Entertainment Boulevard
delivered to FMiTV pursuant to Section 4.1 as such content may be modified,
deleted, enhanced or added to pursuant to Section 2.1.

     "Entertainment Boulevard Representative" means a representative of
Entertainment Boulevard designated by Entertainment Boulevard to FMiTV.

     "Entertainment Boulevard Shares" means the shares of Entertainment
Boulevard Series B Preferred Stock issuable to FMiTV under the terms and
conditions contained herein.

     "FMiTV Network" means all Channels and programming services supported by
FMiTV, including the Entertainment Boulevard Channel.

     "Gross Revenue" shall mean the moneys actually received by FMiTV
specifically attributable to the Entertainment Boulevard Channel including, but
not limited to, such moneys received from advertising, net profits or
commissions from product sales and subscription fees.

     "Intellectual Property Rights" means all inventions, discoveries,
trademarks, service marks, patents, domain names, URLs, trade names, copyrights,
moral rights, jingles, know-how, intellectual property, software, shop rights,
licenses, developments, research data, designs, technology, trade secrets, test
procedures, processes, route lists, customer lists, computer programs, computer
discs, computer tapes, literature, reports and other confidential information,
intellectual and similar intangible property rights, whether or not patentable
or copyrightable (or otherwise subject to legally enforceable restrictions or
protections against unauthorized third party usage), and any and all
applications for, registrations of and extensions, divisions, renewals and
reissuance of, any of the foregoing, and rights therein, including without
limitation (a) rights under any royalty or licensing agreements, and (b)
programming and programming rights, on any distribution medium (i.e. audio,
video, film, digital).

                                       2
<PAGE>

     "Knowledge" shall mean, with respect to Entertainment Boulevard, the actual
knowledge of each of its directors, executive officers and key employees, the
knowledge that each such person would have acquired upon reasonable inquiry and
the knowledge that is imputed to each such person and/or Entertainment Boulevard
by operation of applicable law.

     "Lien" shall mean any lien, encumbrance, pledge, mortgage, security
interest, lease, charge, conditional sales contract, option, restriction,
reversionary interest, right of first refusal, voting trust arrangement,
preemptive right, claim under bailment or storage contract, easement or any
other adverse claim or right whatsoever.

     "Material Adverse Change" or "Material Adverse Effect" or other similar
phrase including the word "material" with respect to the condition (financial or
otherwise), assets, liabilities, business, operations or prospects of
Entertainment Boulevard shall mean any adverse change or effect or potential
adverse change or effect, or any series thereof, involving more than Twenty-Five
Thousand Dollars ($25,000) in the aggregate.

     "Material Contracts" means, collectively, the Contracts of Entertainment
Boulevard which are set forth in Schedule 3.3.

     "Net Revenue" shall mean Gross Revenue less Operating Expenses.

     "Operating Expenses" means those expenses of FMiTV attributable to the
Entertainment Boulevard Channel and that are actually paid (in cash or in kind).

     "Permitted Liens" shall mean (i) Liens for taxes or governmental
assessments, charges or claims the payment of which is not yet due, or for taxes
the validity of which are being contested in good faith by appropriate
proceedings; (ii) statutory Liens of landlords and Liens of laboratories,
carriers, warehousemen, mechanics, materialmen and other similar Persons and
other Liens imposed by applicable law incurred in the ordinary course of
business for sums not yet delinquent or being contested in good faith; (iii)
Liens relating to deposits made in the ordinary course of business in connection
with workers' compensation, unemployment insurance and other types of social
security or to secure the performance of leases, trade contracts or other
similar agreements; (iv) Liens securing executory obligations under any lease
that constitutes an "operating lease" under GAAP; and (v) customary Liens, which
Liens, if enforced, in the aggregate would not have a Material Adverse Effect
upon the condition (financial or otherwise), assets, liabilities, business,
operations or prospects of Entertainment Boulevard.

     "Person" means any natural person, legal entity, or other organized group
of persons or entities. (All pronouns whether personal or impersonal, which
refer to a person include natural persons and other persons.)

     "Required Contractual Consents" shall mean those consents required to
consummate the transaction.

                                       3
<PAGE>

     "Site" means any on-line presence including, but not limited to, those
using WWW, MMM, or any other new technologies that allow for the dissemination
of information via the Internet, owned, operated or affiliated with an
organization.

                                   ARTICLE II
                              PROVISION OF SERVICES

     2.1  CONTENT. FMiTV will establish, operate and integrate into the FMiTV
Network a separate Channel for the delivery of Entertainment Boulevard Content.
The overall structure of the initial launch of the Entertainment Boulevard
Channel, including the design, look, feel and navigation therein, shall be
submitted by FMiTV to Entertainment Boulevard for its approval, which approval
shall not be unreasonably withheld or delayed. Thereafter, upon reasonably
detailed informational notice to an Entertainment Boulevard Representative,
FMiTV shall have the right (i) to determine the Content and all other elements
that will be displayed on the Entertainment Boulevard Channel, (ii) to add to,
delete, modify or enhance the Entertainment Boulevard Content, and (iii) to
redesign or modify the organization, structure, look, feel and functionality,
navigation and other elements of the Entertainment Boulevard Channel.

     2.2  PROMOTION; SUBSCRIPTION AND ADVERTISING TRACKING. FMiTV will use
reasonable commercial efforts to promote the Entertainment Boulevard Channel and
will deliver to Entertainment Boulevard tracking and reporting information
describing the number of advertisements sold and other subscription information
within forty-five (45) days after the end of months one, two and three of the
Term (as hereinafter defined) and within thirty (30) days after the end of each
month thereafter.

          a.   ALLOCATION OF ADVERTISING. FMiTV shall have the right to allocate
FMiTV Network Advertising over the Channel in its sole and absolute discretion
upon notice to an Entertainment Boulevard Representative.

          b.   ACKNOWLEDGMENT. Entertainment Boulevard acknowledges and agrees
that any and all Entertainment Boulevard Advertising shall be in FMiTV's sole
and absolute discretion, and that FMiTV shall have no obligation to provide or
allocate advertising or to generate any advertising revenue in connection with
this Agreement.

     2.3  ALLOCATION OF REVENUE AND EXPENSES. In the event that a subscriber
subscribes to the Entertainment Boulevard Channel concurrently with one or more
other Channels on the FMiTV Network then Entertainment Boulevard shall receive a
fair and reasonable allocation of such revenue generated therefrom to be
determined in FMiTV's reasonable and good faith discretion after consultation
with Entertainment Boulevard. Further, to the extent that any expenses are
attributable to more than one Channel on the FMiTV Network, FMiTV shall, in its
reasonable and good faith discretion after consultation with Entertainment
Boulevard, allocate such expenses to all of the Channels to which the expense
applies.

     2.4  TECHNICAL SUPPORT. FMiTV will provide data and systems services for
the maintenance of the Entertainment Boulevard Channel.

                                       4
<PAGE>

     2.5  CONTENT AND DISTRIBUTION AGREEMENTS. FMiTV shall have the right
subject to the approval of Entertainment Boulevard, which approval shall not be
unreasonably withheld or delayed, to (i) re-negotiate Material Contracts (within
the re-negotiation parameters projected by FMiTV and approved by Entertainment
Boulevard, which approval shall not be unreasonably withheld or delayed), and
(ii) on behalf and in the name of Entertainment Boulevard, enter into new
content and distribution alliances not otherwise provided for in the Budget
which FMiTV determines in good faith to be in the best interests of
Entertainment Boulevard Channel. FMiTV shall have the right without the need for
any additional approval of Entertainment Boulevard to enter into new content and
distribution alliances provided for in the Budget. To facilitate the
re-negotiation of Material Contracts, Entertainment Boulevard shall execute one
or more powers of attorney appointing FMiTV its agent, in a form satisfactory to
FMiTV.

     2.6  KIIS-FM PAYABLES. Within sixty (60) days of the Closing, FMiTV will
render all reasonable assistance to Entertainment Boulevard in obtaining
approval from KIIS-FM to convert all existing payables owed to KIIS-FM into
Entertainment Boulevard common stock using a valuation of $0.13 per share,
although no assurance is given as to whether KIIS-FM will agree to convert on
the terms hereof.

     2.7  NO REPRESENTATION. FMiTV makes no representation or warranty
concerning the amount of Gross Revenues to be generated for the Entertainment
Boulevard Channel.

     2.8  REVISION TO BUDGET. Upon notice to Entertainment Boulevard, FMiTV
shall have the right in consultation with an Entertainment Boulevard
Representative to revise the Budget on a quarterly basis, provided that any
increase in the Budget greater than 25% of the Budget in the previous quarter
shall require the approval of Entertainment Boulevard, which approval shall not
be unreasonably withheld or delayed.

                                   ARTICLE III
                         PAYMENTS, REVENUES AND EXPENSES

     3.1  BANK ACCOUNT. A separate bank account ("Bank Account") shall be
established exclusively for the payment and receipt of all monies in connection
with the Entertainment Boulevard Channel at a bank to be agreed upon by both
parties. The Bank Account shall be managed by FMiTV and be owned by FMiTV
subject to the rights of Entertainment Boulevard to receive payment under this
Agreement. All Gross Revenues shall be deposited into, and all Operating
Expenses shall be withdrawn from, the Bank Account. FMiTV shall provide
Entertainment Boulevard with copies of monthly statements and cancelled checks
within ten (10) days of receipt.

     3.2  INITIAL CONTRIBUTION TO EXPENSES.

          a.   ENTERTAINMENT BOULEVARD ADVANCE. Entertainment Boulevard shall
deposit into the Bank Account a $400,000 advance (the "Entertainment Boulevard
Advance") in equal installments of $133,333 during the first three months of
this Agreement in order to cover Budget expenses in connection with the
Entertainment

                                       5
<PAGE>

Boulevard Channel. The installment due with respect to the first month shall be
paid on the last day of that month, with the balance of the installments due on
the first day of each successive month. The Entertainment Boulevard Advance
shall be returned as set forth in Section 6.2.

          b.   FMITV ADVANCE. At the start of each month during the Term
(subject to early termination pursuant to Section 6.1), FMiTV shall deposit into
the Bank Account that amount of money equal to the difference between the Budget
(as may be revised under this Agreement) for that month and the amount in the
Bank Account (the "FMiTV Advance"), except with respect to the first month where
such FMiTV Advance shall not be due until Entertainment Boulevard has completed
the deliveries set forth in Section 7.2. The FMiTV Advance shall be returned as
set forth in Section 6.2.

          c.   SHORTFALL. To the extent that Entertainment Boulevard fails to
pay the full amount of the Entertainment Boulevard Advance, such shortfall (the
"Shortfall") shall be paid into the Bank Account by FMiTV if and to the extent
necessary. Solely in the event of a Shortfall, Entertainment Boulevard shall
issue to FMiTV additional shares of Entertainment Boulevard Common Stock (the
"Shortfall Shares") in an amount equal to twice the Shortfall paid divided by
70% of the market price of the Entertainment Boulevard Common Stock as of the
date on which Entertainment Boulevard failed to make such payment. As used
herein, "market price" shall mean the average of the closing bid price of the
shares of Entertainment Boulevard Common Stock for the five trading days
preceding the applicable date.

     3.3  ISSUANCE OF ENTERTAINMENT BOULEVARD SHARES TO FMITV. As partial
consideration for FMiTV's services hereunder, Entertainment Boulevard shall
issue Entertainment Boulevard Shares as set forth in this Section 3.3 and
Section 7.2(d)(i). It is the understanding and agreement of the parties that if
all of the milestones have been achieved as provided herein, FMiTV shall be
entitled to receive such number of Entertainment Boulevard Shares which upon
conversion (inclusive of the Entertainment Boulevard Shares issuable pursuant to
Section 7.2(d)(i)) shall entitle FMiTV to receive a percentage (the "Target
Percentage") of the outstanding shares of the common stock of Entertainment
Boulevard equal to 20% plus that percentage of the outstanding shares of
Entertainment Boulevard Common Stock represented by the Shortfall Shares (the
"Shortfall Percentage"). The Target Percentage shall be determined as follows:

          (.20 + Shortfall Percentage) x A-(1,000,000 x B)
                                         -----------------
                                                 A

where A equals the aggregate number of shares issuable pursuant to this Section
3.3 (assuming the milestones have been achieved) and Section 7.2(d)(i) and B is
the number of milestones not yet achieved. In the event that at any time during
the term of this Agreement, Entertainment Boulevard issues any shares of Common
Stock or shares of Preferred Stock (with or without consideration), it shall
promptly notify FMiTV and, as soon as practicable, but not later than within
fifteen (15) business days, issue to FMiTV such additional Entertainment
Boulevard Shares so that upon conversion thereof, FMiTV will retain the Target
Percentage as such Percentage may be adjusted as provided above. When the Target
Percentage is revised to reflect the achievement of one or more

                                       6
<PAGE>

milestones or a Shortfall, Entertainment Boulevard shall issue such additional
shares as would be required to maintain the then Target Percentage.

     The terms, rights and preferences of the Entertainment Boulevard Shares
shall be set forth in a certificate of designation to be filed with the
Secretary of State of Nevada (the "Certificate"). The Certificate shall be
subject to the reasonable approval of FMiTV but shall contain such conversion
rights and antidilution provisions consistent with the foregoing and, in
addition, a provision that without the approval of the holders of the
Entertainment Boulevard Shares, Entertainment Boulevard may not issue a series
of Preferred Stock containing terms which are more favorable than terms of the
Entertainment Boulevard Shares.

     Each Entertainment Boulevard Share shall be convertible into not fewer than
1,000 shares of common stock (adjusted for stock splits, reverse stock splits,
stock dividends).

     As provided for in Section 7.2(d)(ii), Entertainment Boulevard shall issue
to FMiTV one thousand (1,000) Entertainment Boulevard Shares, subject to the
representations and warranties contained herein. Further, Entertainment
Boulevard shall issue to FMiTV an additional one thousand (1,000) Entertainment
Boulevard Shares upon the achievement of each of the following:

          a.   the re-negotiation of one or more Material Contract(s) set forth
on Exhibit 3.3; provided, however, that no more than 1,000 Entertainment
Boulevard Shares shall be issued under this subparagraph a.;

          b.   the receipt of cumulative Gross Revenues of at least $800,000
during the Term;

          c.   the receipt of cumulative Gross Revenues of at least $2,200,000
during the Term.

          d.   NET REVENUE. After retaining twenty percent (20%) of Net Revenues
generated during the quarter as a reserve ("Reserve") for future Operating
Expenses and paying to FMiTV an amount equal to the dollar amount, if any, by
which the FMiTV Advance exceeds $400,000 to the extent not previously recouped,
the balance of the Net Revenues for such quarter, if any, shall be distributed
within thirty (30) days from the end of each calendar quarter in which such Net
revenues are generated, one-half to FMiTV (as its management fee) and one-half
to Entertainment Boulevard.

          e.   BARTER. To the extent FMiTV receives or provides any goods and/or
services on a barter basis as compensation, the value of such goods and/or
services shall be considered Gross Revenue or Operating Expense, respectively,
which shall be allocated to Entertainment Boulevard as agreed by the parties.

          f.   POST-TERMINATION RECEIPT OF GROSS REVENUE. To the extent any Net
Revenues pursuant to Section 3.4(b) above are paid subsequent to the termination
or expiration of this Agreement with respect to operation of the Entertainment
Boulevard

                                       7
<PAGE>

Channel for periods prior to termination, FMiTV shall pay such Net Revenues less
FMiTV's 50% management fee to Entertainment Boulevard within fifteen (15)
business days after FMiTV's receipt of Gross Revenues which caused such Net
Revenues to become payable. FMiTV shall maintain the Bank Account for a
reasonable period of time subsequent to the termination or expiration of this
Agreement in order to comply with this Section 3.4(d).

          g.   STATEMENTS. All payments of Net Revenues hereunder shall be
accompanied by a statement reflecting the sources of Gross Revenues and
deductions for Operating Expenses and the Reserve. Within fifteen (15) days
after the end of each month, FMiTV shall provide Entertainment Boulevard with a
report of Gross Revenues generated during such month.

                                   ARTICLE IV
                     OBLIGATIONS OF ENTERTAINMENT BOULEVARD

     4.1  DELIVERY OF CONTENT. Entertainment Boulevard will deliver all Content
to FMiTV pursuant to Section 7.2(a) below.

     4.2  EMPLOYEES. FMiTV may hire such former employees of Entertainment
Boulevard as it shall choose on such terms as it and the employee shall
determine. Such employees shall be referred to herein as "Transferred
Employees." Entertainment Boulevard shall have terminated the employment of all
the Transferred Employees on or before the Closing and shall have paid, at the
time of such termination, all salaries, benefits, and all other amounts accruing
or owing through and as of the Closing to such employees. Entertainment
Boulevard agrees that FMiTV shall have no responsibility to provide continuation
of health coverage, commonly known as COBRA, to any Terminated Employee who is
eligible for COBRA on or after the Closing.

     4.3  CONSENTS. Entertainment Boulevard will use its best efforts to obtain
any necessary consents required by the transactions contemplated herein under
all Material Contracts.

     4.4  ARTWORK. Entertainment Boulevard will deliver to FMiTV all
Entertainment Boulevard artwork in its possession relating to the Entertainment
Boulevard Channel (the "Artwork") pursuant to Section 7.2(b).

     4.5  HARDWARE. Entertainment Boulevard will deliver that equipment related
to the operation of the Entertainment Boulevard Site (the "Hardware") pursuant
to Section 7.2(c).

     4.6  REQUIRED APPROVALS. To the extent that the exercise of any rights of
FMiTV herein require the approval of Entertainment Boulevard pursuant to notice
given by FMiTV, the failure of Entertainment Boulevard to respond within ten
(10) days after receipt of such notice shall be deemed an approval with respect
to the exercise of the particular right by FMiTV.

                                       8
<PAGE>

                                    ARTICLE V
                                    LICENSES

     5.1  ENTERTAINMENT BOULEVARD LIMITED LICENSE.

          a.   SCOPE. During the Term (as defined herein), FMiTV shall be an
exclusive distributor for delivery of Entertainment Boulevard Content.

          b.   GRANT. Subject to the terms and conditions of this Agreement,
including, but not limited to, the provisions of Article XI hereof,
Entertainment Boulevard hereby grants to FMiTV during the Term hereof, an
exclusive, non-transferable, limited license to use, reproduce, modify and
display the Entertainment Boulevard trademarks and logos provided by
Entertainment Boulevard to FMiTV hereunder (the "Entertainment Boulevard
Trademarks") and the Entertainment Boulevard Content in connection with the use
and display of the Entertainment Boulevard Content on the Entertainment
Boulevard Channel or any other Channel, the delivery of messages featuring
Entertainment Boulevard Content to subscribers and the promotion of the
Entertainment Boulevard Channel. FMiTV shall have the right, upon notice to and
approval by Entertainment Boulevard, which approval shall not to be unreasonably
withheld or delayed, to change the name and logo attributable to the
Entertainment Boulevard Channel and such revised names and logos shall be the
property of Entertainment Boulevard.

                                   ARTICLE VI
                           TERM; TERMINATION; RENEWAL

     6.1  TERM AND RENEWAL. The term of this Agreement shall commence on the
date hereof and shall continue for a period of two (2) years unless earlier
terminated as provided in clauses (a), (b) or (c) below (the "Initial Term").
FMiTV shall have the option upon written notice to Entertainment Boulevard at
least forty-five (45) days prior to the end of the Initial Term to renew this
Agreement for an additional one year term if there have been Gross Revenues of
at least $5,000,000 for the second year of the Term (the Initial Term and any
renewal term are referred to herein as the "Term").

          a.   FIRST YEAR GROSS REVENUES. Either party may terminate this
Agreement upon delivery of written notice to the other party within thirty (30)
business days after the end of the first year of the Initial Term in the event
that annual Gross Revenues for such year are less than $2,500,000.

          b.   MATERIAL BREACH. Either party may terminate this Agreement upon
delivery of written notice of termination to the other party in the event such
other party materially breaches any representation, covenant or agreement made
by it hereunder or otherwise fails to perform any of its material obligations
hereunder, provided that such breach or failure has not been cured within thirty
(30) days after delivery of written notice of such breach.

                                       9
<PAGE>

          c.   BANKRUPTCY. In the event that either party hereto shall make an
assignment for the benefit of its creditors, or shall file a petition under any
chapter of the Federal Bankruptcy Code or any similar law, now or hereafter
existing, or shall in any involuntary bankruptcy case commenced against it file
an answer admitting insolvency or inability to pay its debts as they become due,
or shall fail to obtain a dismissal of such case within thirty (30) calendar
days after its commencement or convert the case from one chapter of the Federal
Bankruptcy Code to another chapter, or be the subject of an order for relief in
such bankruptcy case, or be adjudged a bankrupt or insolvent, or shall have a
custodian, trustee, or receiver appointed for, or have any court take
jurisdiction of, its properties, or any part thereof, in any voluntary or
involuntary proceeding, including, but not limited to, those for the purpose of
reorganization, arrangement, dissolution, or liquidation, and such custodian,
trustee, or receiver shall not be discharged, or such jurisdiction shall not be
relinquished, vacated, or stayed within thirty (30) days after the appointment,
then the other party hereto may, by giving written notice thereof to such party,
terminate this Agreement as of a date specified in such notice of termination.

     6.2  RETURN OF PROPERTY. Except as otherwise limited or restricted by the
terms and provisions of existing contractual obligations, upon the effective
date of termination or expiration of this Agreement, (i) FMiTV shall promptly
return all Entertainment Boulevard Trademarks, Intellectual Property Rights,
Entertainment Boulevard Content, Artwork (including any new name and logo for
the Entertainment Boulevard Channel), and Hardware (in the same condition as
delivered, reasonable wear and tear excepted, and as the configuration thereof
may be modified as needed for operation of the Channel) delivered to FMiTV by
Entertainment Boulevard and FMiTV shall have no rights in and to the Original
Content and Intellectual Property Rights and shall cease to use and return to
Entertainment Boulevard any such Original Content and Intellectual Property
Rights in its possession or under its control; (ii) FMiTV shall immediately
cease to use any of Entertainment Boulevard's Trademarks and Content and shall
immediately remove all Entertainment Boulevard Content and the Entertainment
Boulevard Channel from the FMiTV Network; (iii) as soon as practicable, to the
extent not previously recouped, FMiTV shall distribute to itself the FMiTV
Advance and to Entertainment Boulevard the Entertainment Boulevard Advance and a
fair allocation to the parties of equipment purchased for the Entertainment
Boulevard Channel and any amounts remaining after reserving for anticipated
obligations and expenses; (iv) if, during the term of this Agreement and out of
Operating Expenses, FMiTV develops any new site, Content, and/or Channel using
Entertainment Boulevard Content or Intellectual Property Rights ("New Content
and Intellectual Property Rights") that New Content and Intellectual Property
Rights shall be owned by FMiTV and Entertainment Boulevard shall have no rights
in and to the New Content and Intellectual Property Rights and shall cease to
use and return to FMiTV any such New Content and Intellectual Property Rights in
its possession or under its control; and (v) the rights and obligations of each
party hereunder shall terminate; provided, however, that notwithstanding the
foregoing, the rights and obligations of the parties hereto under Article XI
hereof, and FMiTV's obligations to pay Entertainment Boulevard pursuant this
Section 6.2 hereof shall survive such expiration and termination.

                                       10
<PAGE>

                                   ARTICLE VII
                                     CLOSING

     7.1  TIME AND PLACE. The Closing shall take place at the offices of Loeb &
Loeb LLP, 10100 Santa Monica Boulevard, Los Angeles, California, at 10:00 a.m.
on October 30, 2000 ("Closing") or such other place or date as the parties may
agree in writing.

     7.2  CLOSING TRANSACTIONS. Within ten (10) days of the Closing, the
following shall occur:

          a.   DELIVERY OF CONTENT. Entertainment Boulevard will deliver all
Content to FMiTV to the extent FMiTV reasonably deems necessary for FMiTV to
perform its services as contemplated hereunder or otherwise use its best efforts
to make available such Content.

          b.   ARTWORK. Entertainment Boulevard will deliver the Entertainment
Boulevard Artwork, which shall include a logo(s) for use by FMiTV in connection
with the delivery of Entertainment Boulevard Content on certain designated pages
of FMiTV internet sites or the delivery of messages featuring Entertainment
Boulevard Content to subscribers as provided for herein.

          c.   HARDWARE. Entertainment Boulevard will deliver to the FMiTV
offices the Hardware.

          d.   ENTERTAINMENT BOULEVARD PREFERRED STOCK.

               (i)  CONVERSION OF EXISTING DEBT. FMiTV will convert the existing
debt of $407,000 owed by Entertainment Boulevard to FMiTV into the number of
shares of Entertainment Boulevard Shares equal to 407,000 divided by the lesser
of $0.13 or the five day average of the closing price of Entertainment Boulevard
common stock at the Closing, and shall deliver a stock certificate therefor.

               (ii) Entertainment Boulevard will issue one thousand (1,000)
Entertainment Boulevard Shares to FMiTV containing terms and provisions approved
by FMiTV, and shall deliver stock certificates therefor, in accordance with
Section 3.3 hereof.

          e.   FMITV COMMON STOCK. The parties acknowledge that FMiTV is
currently conducting a private placement of shares of common stock at a price of
$5.00 per share. For a period of eighteen (18) months Entertainment Boulevard
shall have the option (the "Option") to purchase up to 400,000 shares of FMiTV
common stock at the private placement price. In the event that Entertainment
Boulevard elects to exercise the Option, Entertainment Boulevard shall execute
and deliver to FMiTV during such period a subscription agreement in the form
used in the private placement; provided, however, that Entertainment Boulevard
shall receive the same registration rights as other investors in the private
placement. In the event that the shares subject to the Option are changed into
or exchanged for a different number or kind of shares of FMiTV or other
securities

                                       11

<PAGE>

of FMiTV by reason of recapitalization, reclassification, stock split, stock
dividend or combination of shares, an appropriate and equitable adjustment in
the number and kind of shares subject to the Option shall be made so that
Entertainment Boulevard's proportionate interest shall be maintained as before
the occurrence of any such event.

          f.   POWER OF ATTORNEY. Entertainment Boulevard shall deliver to FMiTV
one or more powers of attorney appointing FMiTV as Entertainment Boulevard's
agent, in a form as FMiTV and its counsel may reasonably request.

          g.   DELIVERY OF ADDITIONAL DOCUMENTS. Entertainment Boulevard shall
deliver to FMiTV any and all security agreements, financing statements,
assignments, documents, instruments and conveyances reasonably requested by
FMiTV to effect the consummation of the transactions contemplated by this
Agreement, to evidence FMiTV's interest in and title to the Entertainment
Boulevard Shares, and to perfect FMiTV's security interest in and to the Bank
Account and the contents thereof.

                                  ARTICLE VIII
            REPRESENTATIONS AND WARRANTIES OF ENTERTAINMENT BOULEVARD

     Entertainment Boulevard represents and warrants to FMiTV that:

     8.1  ORGANIZATION, QUALIFICATIONS AND CORPORATE POWER. Entertainment
Boulevard is a corporation duly incorporated, validly existing and in good
standing under the laws of its jurisdiction of incorporation and is duly
licensed or qualified to transact business as a foreign corporation and is in
good standing in each jurisdiction in which the nature of the business
transacted by it or the character of the properties owned or leased by it
requires such licensing or qualification. Entertainment Boulevard has the
corporate power and authority to own and hold its properties and to carry on its
business as now conducted and as proposed to be conducted, to execute, deliver
the Entertainment Boulevard Shares.

     8.2  AUTHORIZATION OF AGREEMENTS, ETC. The execution and delivery by
Entertainment Boulevard of this Agreement and the performance by Entertainment
Boulevard of its respective obligations hereunder, and the issuance, sale and
delivery of the Entertainment Boulevard Shares, as defined in Article I, have
been duly authorized by all requisite corporate action and will not violate any
provision of law, any order of any court or other agency of government, the
Certificates of Incorporation of Entertainment Boulevard or the By-laws of
Entertainment Boulevard, or any provision of any indenture, agreement or other
instrument to which Entertainment Boulevard or any of its respective properties
or assets are bound, or conflict with, result in a breach of or constitute (with
due notice or lapse of time or both) a default under any such indenture,
agreement or other instrument, or result in the creation or imposition of any
lien, charge, restriction, claim or encumbrance of any nature whatsoever upon
any assets of Entertainment Boulevard.

     8.3  CAPITALIZATION. Immediately prior to the Closing, the entire
authorized capital stock of Entertainment Boulevard will consist of 250,000,000
shares of common

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<PAGE>

stock, par value .001 per share, of which no more than 25,000,000 shares will be
issued and outstanding and 1,000,000 shares of Preferred Stock, none of which
will be issued and outstanding. All of the issued and outstanding shares of
common stock of Entertainment Boulevard are duly authorized, validly issued,
fully paid and nonassessable. When issued in accordance with the terms of this
Agreement, the Entertainment Boulevard Shares shall be duly authorized, validly
issued, fully paid and nonassessable. Other than the approximately 15,000,000
stock options and/or warrants issued and outstanding, none of which is
exercisable for less than $0.38 per share, there are no outstanding warrants,
options or other rights to purchase or acquire from Entertainment Boulevard, or
exchangeable for or convertible into, any securities of Entertainment Boulevard.
The issuance, sale and delivery of the Entertainment Boulevard Shares are not
subject to any preemptive right of stockholders of Entertainment Boulevard, or
to any right of first refusal or other right in favor of any person.

     8.4  LITIGATION. Except as set forth on Schedule 8.4, there is not any
action, suit, proceeding or investigation pending or, to the best knowledge of
Entertainment Boulevard, threatened against Entertainment Boulevard which
questions the right of Entertainment Boulevard to consummate the transactions
contemplated hereby or which would relate in any way to the Entertainment
Boulevard Content delivered pursuant to Section 4.1.

     8.5  TITLE TO PROPERTIES. Other than any lien in respect to current taxes
not yet due and payable, Entertainment Boulevard has good and marketable title
to (i) all properties (other than leased properties) and assets necessary to its
business as presently conducted and as proposed to be conducted; and (ii) all of
its properties and assets, free and clear of all mortgages, security interests,
liens, restrictions or encumbrances.

     8.6  CONTENT. Entertainment Boulevard is the owner of all right, title and
interest in and to or duly authorized and licensed to use each item of
Entertainment Boulevard Content, free and clear of all Liens, other than
Permitted Liens.

     8.7  SECURITIES LAWS. The offer, issuance and sale to FMiTV of the
Entertainment Boulevard Shares by Entertainment Boulevard are, and will be as of
each such subsequent issuance as described herein, exempt from the registration
and prospectus delivery requirements of the Securities Act (as defined
hereafter) and will be, as of each such subsequent issuance as described herein,
exempt from registration and qualification under the registration, permit or
qualification requirements of all applicable state blue sky and securities laws.

     8.8  HARDWARE. Entertainment Boulevard is the owner of all right, title and
interest in and to the Hardware, free and clear of all Liens, other than
Permitted Liens.

     8.9  BANK ACCOUNT. Entertainment Boulevard does not have outstanding any
debt instruments which are secured by Entertainment Boulevard's cash, cash
equivalents or accounts, and at the Closing and thereafter FMiTV will have a
first priority security interest in and to the Bank Account and the content
thereof.

                                       13

<PAGE>

     8.10 VALIDITY. This Agreement has been duly executed and delivered by
Entertainment Boulevard and constitutes the legal, valid and binding obligation
of Entertainment Boulevard, enforceable in accordance with its terms.

     8.11 MATERIAL CONTRACTS. Schedule 3.3 contains a true, accurate and
complete list of all of Entertainment Boulevard's Material Contracts and each of
the copies of the Material Contracts which Entertainment Boulevard provided
FMiTV are true and correct copies of the execution versions of such Material
Contracts.

     8.12 NECESSARY CONSENTS. The use by FMiTV of the Entertainment Boulevard
Trademarks in the manner contemplated by this Agreement will not violate the
rights of any third party and will not give rise to any claim of such
violations, including without limitation, claims of trademark infringement.

     8.13 INTELLECTUAL PROPERTY. Except as set forth on Schedule 8.13, as of the
date hereof:

          a.   Entertainment Boulevard is the owner of all right, title and
interest in and to each item of its Intellectual Property, free and clear of all
Liens, other than Permitted Liens;

          b.   all patents, copyrights and other state and federal registrations
and all applications therefor listed in the Entertainment Boulevard Disclosure
Schedule are valid and in full force and effect and are not subject to any
Taxes, maintenance fees or actions falling due within 90 days after the date
hereof;

          c.   there are no pending claims, actions, judicial or other adversary
proceedings, disputes or disagreements involving Entertainment Boulevard
concerning any item of its Intellectual Property, and, to the Knowledge of
Entertainment Boulevard, no such action, proceeding, dispute or disagreement is
threatened;

          d.   Entertainment Boulevard has the right and authority to use each
item of its Intellectual Property in perpetuity in connection with the conduct
of its business; such use did not and will not conflict with, infringe upon, or
violate any patent or other proprietary right of any other person, and
Entertainment Boulevard has not infringed and is not now infringing any
proprietary right belonging to any other Person;

          e.   with respect to each trade secret comprising a part of the
Intellectual Property of Entertainment Boulevard, such trade secret is valid and
protectable, and such trade secret's documentation is current, accurate and
sufficient in detail and content to identify and explain it, and to allow its
full and proper use without reliance on the special knowledge or memory of
others;

                                       14
<PAGE>

          f.   Entertainment Boulevard has taken all reasonable security
measures to protect the secrecy, confidentiality and value of its trade secrets;
and

          g.   all trade secrets of Entertainment Boulevard are presently valid
and protectable, and are not part of the public knowledge or literature, nor to
the Knowledge of Entertainment Boulevard have they been used, divulged or
appropriated for the benefit of any Person other than Entertainment Boulevard.

     8.14 AGREEMENTS. As of the date hereof:

          a.   except with respect to any breach or default by Entertainment
Boulevard thereunder, each Material Contract is the valid and binding obligation
of the other contracting party enforceable in all material respects in
accordance with its terms against the other contracting party and is in full
force and effect; and all rights of Entertainment Boulevard thereunder are owned
free and clear of any Liens, other than Permitted Liens; and

          b.   Entertainment Boulevard is not a party to, nor bound by, any
Contract, or any provision of its Certificate of Incorporation or bylaws which
(i) restricts the conduct of its business anywhere in the world or (ii) contains
any unusual or burdensome provisions which could reasonably be expected to have
a Material Adverse Effect upon its condition (financial or otherwise), assets,
liabilities, business, operations or prospects.

     8.15 FULL DISCLOSURE. All documents and other materials delivered to FMiTV
by or on behalf of Entertainment Boulevard in connection with this Agreement and
the transactions contemplated herein are accurate, complete and authentic.
Furthermore, the information furnished to FMiTV by or on behalf of Entertainment
Boulevard in connection with this Agreement and the transactions contemplated
herein does not contain any untrue statement of a material fact and does not
omit to state any material fact necessary to make the statements made, in the
context in which they are made, not false or misleading. No investigation by
FMiTV shall, however, diminish or obviate in any way, or affect FMiTV's right to
rely upon, any of the representations, warranties, covenants or agreements of
Entertainment Boulevard or FMiTV contained in this Agreement or in any other
Entertainment Boulevard Document.

     8.16 SECURITIES FILINGS. None of the filings made by Entertainment
Boulevard under the Securities Act or the Exchange Act make any untrue statement
of a material fact or omit to state a material fact necessary in order to make
the statements made, in light of the circumstances under which they were made,
not misleading.

                                   ARTICLE IX
                     REPRESENTATIONS AND WARRANTIES OF FMITV

     FMiTV represents and warrants to Entertainment Boulevard that:

     9.1  Organization; Authority; Due Authorization.

                                       15
<PAGE>

          a.   FMiTV is an "accredited investor" within the meaning of Rule 501
under the Securities Act of 1933, as amended (the "Securities Act").

          b.   FMiTV has sufficient knowledge and experience in investing in
companies similar to Entertainment Boulevard in terms of Entertainment
Boulevard's stage of development so as to be able to evaluate the risks and
merits of FMiTV's investment in Entertainment Boulevard and is able financially
to bear the risks thereof.

          c.   FMiTV has had an opportunity to discuss Entertainment Boulevard's
business, management and financial affairs with Entertainment Boulevard's
management.

          d.   The Entertainment Boulevard Shares are being acquired by FMiTV
for its own account for the purpose of investment and not with a view to or for
sale in connection with any distribution thereof.

          e.   The consummation of the transactions contemplated in this
Agreement will not conflict with or result in a breach of or default under the
terms, conditions or provisions of any judgment, order, injunction or decree, or
of any contract or agreement, to which FMiTV is a party or by which FMiTV may be
bound.

          f.   FMiTV understands that (i) the Entertainment Boulevard Shares
have not been registered under the Securities Act by reason of its issuance in a
transaction exempt from the registration requirements of the Securities Act
pursuant to Section 4(2) thereof or Rule 506 promulgated under the Securities
Act, (ii) the Entertainment Boulevard Shares must be held indefinitely unless a
subsequent disposition thereof is registered under the Securities Act or is
exempt from such registration, and (iii) the Entertainment Boulevard Shares will
bear a legend to such effect.

                                    ARTICLE X
                               REGISTRATION RIGHTS

     10.1 If, within three (3) years from the date hereof, Entertainment
Boulevard shall propose to file a registration statement (other than on Form S-8
or Form S-4) with respect to any shares of its common stock on a form suitable
for a secondary offering, it will give notice in writing to such effect to FMiTV
or its transferee or assignee ("Holder") at least ten (10) days prior to such
filing, and, at the written request of any such registered Holder made within
five (5) days after the receipt of such notice, will include therein at
Entertainment Boulevard's cost and expense such of the shares of Entertainment
Boulevard Common Stock issued or issuable upon conversion of the Entertainment
Boulevard Shares (the "Registrable Shares") as such Holder(s) shall request;
provided, however, that if the offering being registered by Entertainment
Boulevard is underwritten and if the representative of the underwriters
certifies in writing that the inclusion therein of such Registrable Shares would
materially and adversely affect the sale of the securities to be sold by
Entertainment Boulevard thereunder, then Entertainment Boulevard shall be
required to include in the offering only that number of securities, including
such Registrable Shares, which the underwriters determine in their

                                       16
<PAGE>

reasonable discretion will not jeopardize the success of the offering (the
securities so included to be apportioned pro rata among all selling stockholders
according to the total amount of securities entitled to be included therein
owned by each selling stockholder, but in no event shall the percentage of
Registrable Shares included in the offering be less than the percentage of
securities included in the offering by any other single selling stockholder).

     10.2 Whenever Entertainment Boulevard undertakes to effect the registration
of any of the Registrable Shares, Entertainment Boulevard shall, as
expeditiously as reasonably possible:

     10.3 Prepare and file with the Securities and Exchange Commission (the
"Commission") a registration statement covering such Registrable Shares and use
its best efforts to cause such registration statement to be declared effective
by the Commission as expeditiously as possible and to keep such registration
effective until the earlier of (A) the date when all Registrable Shares covered
by the registration statement have been sold or (B) two hundred seventy (270)
days from the effective date of the registration statement; provided, that
before filing a registration statement or prospectus or any amendment or
supplements thereto, Entertainment Boulevard will furnish to each Holder of
Registrable Shares covered by such registration statement and the underwriters,
if any, copies of all such documents proposed to be filed (excluding exhibits,
unless any such person shall specifically request exhibits), which documents
will be subject to the review of such Holders and underwriters, and
Entertainment Boulevard will not file such registration statement or any
amendment thereto or any amendment thereto or any prospectus or any supplement
thereto (including any documents incorporated by reference therein) with the
Commission if (A) the underwriters, if any, shall reasonably object to such
filing or (B) if information in such registration statement or prospectus
concerning a particular selling Holder has changed and such Holder or the
underwriters, if any, shall reasonably object.

     10.4 Prepare and file with the Commission such amendments and
post-effective amendments to such registration statement as may be necessary to
keep such registration statement effective during the period referred to in
Section 10.3 and to comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such registration
statement, and cause the prospectus to be supplemented by any required
prospectus supplement, and as so supplemented to be filed with the Commission
pursuant to Rule 424 under the Securities Act.

     10.5 Furnish to the selling Holder(s) such numbers of copies of such
registration statement, each amendment thereto, the prospectus included in such
registration statement (including each preliminary prospectus), each supplement
thereto and such other documents as they may reasonably request in order to
facilitate the disposition of the Registrable Shares owned by them.

     10.6 Use its best efforts to register and qualify under such other
securities laws of such jurisdictions as shall be reasonably requested by any
selling Holder and do any and all other acts and things which may be reasonably
necessary or advisable to enable

                                       17

<PAGE>

such selling Holder to consummate the disposition of the Registrable Shares
owned by such Holder, in such jurisdictions; provided, however, that
Entertainment Boulevard shall not be required in connection therewith or as a
condition thereto to qualify to transact business or to file a general consent
to service of process in any such states or jurisdictions.

     10.7 Promptly notify each selling Holder of the happening of any event as a
result of which the prospectus included in such registration statement contains
an untrue statement of a material fact or omits any fact necessary to make the
statements therein not misleading and, at the request of any such Holder,
Entertainment Boulevard will prepare a supplement or amendment to such
prospectus so that, as thereafter delivered to the purchasers of such
Registrable Shares, such prospectus will not contain any untrue statement of a
material fact or omit to state any fact necessary to make the statements therein
not misleading.

     10.8 Provide a transfer agent and registrar for all such Registrable Shares
not later than the effective date of such registration statement.

     10.9 Enter into such customary agreements (including underwriting
agreements in customary form for a primary offering) and take all such other
actions as the underwriters, if any, reasonably request in order to expedite or
facilitate the disposition of such Registrable Shares (including, without
limitation, effecting a stock split or a combination of shares).

     10.10 Make available for inspection by any selling Holder or any
underwriter participating in any disposition pursuant to such registration
statement and any attorney, accountant or other agent retained by any such
selling Holder or underwriter, all financial and other records, pertinent
corporate documents and properties of Entertainment Boulevard, and cause the
officers, directors, employees and independent accountants of Entertainment
Boulevard to supply all information reasonably requested by any such seller,
underwriter, attorney, accountant or agent in connection with such registration
statement.

     10.11 Promptly notify the selling Holder(s) and the underwriters, if any,
of the following events and (if requested by any such person) confirm such
notification in writing: (A) the filing of the prospectus or any prospectus
supplement and the registration statement and any amendment or post-effective
amendment thereto and, with respect to the registration statement or any
post-effective amendment thereto, the declaration of the effectiveness of such
documents, (B) any requests by the Commission for amendments or supplements to
the registration statement or the prospectus or for additional information, (C)
the issuance or threat of issuance by the Commission of any stop order
suspending the effectiveness of the registration statement or the initiation of
any proceedings for that purpose and (D) the receipt by Entertainment Boulevard
of any notification with respect to the suspension of the qualification of the
Registrable Shares for sale in any jurisdiction or the initiation or threat of
initiation of any proceeding for such purposes.

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<PAGE>

     10.12 Make every reasonable effort to prevent the entry of any order
suspending the effectiveness of the registration statement and obtain at the
earliest possible moment the withdrawal of any such order, if entered.

     10.13 Cooperate with the selling Holder(s) and the underwriters, if any, to
facilitate the timely preparation and delivery of certificates representing the
Registrable Shares to be sold and not bearing any restrictive legends, and
enable such Registrable Shares to be in such lots and registered in such names
as the underwriters may request at least two (2) business days prior to any
delivery of the Registrable Shares to the underwriters.

     10.14 Provide a CUSIP number for all the Registrable Shares not later than
the effective date of the registration statement.

     10.15 Prior to the effectiveness of the registration statement and any
post-effective amendment thereto and at each closing of an underwritten
offering, (A) make such representations and warranties to the selling Holder(s)
and the underwriters, if any, with respect to the Registrable Shares and the
registration statement as are customarily made by issues in primary underwritten
offerings; (B) use its best efforts to obtain "cold comfort" letters and updates
thereof from Entertainment Boulevard's independent certified public accountants
addressed to the selling Holders and the underwriters, if any, such letters to
be in customary form and covering matters of the type customarily covered in
"cold comfort" letters by underwriters in connection with primary underwritten
offerings; (C) deliver such documents and certificates as may be reasonably
requested (1) by the holders of a majority of the Registrable Shares being sold,
and (2) by the underwriters, if any, to evidence compliance with clause (A)
above and with any customary conditions contained in the underwriting agreement
or other agreement entered into by Entertainment Boulevard; and (D) obtain
opinions of counsel to Entertainment Boulevard and updates thereof (which
counsel and which opinions shall be reasonably satisfactory to the underwriters,
if any, covering the matters customarily covered in opinions requested in
underwritten offerings and such other matters as may be reasonably requested by
the selling Holders and underwriters or their counsel. Such counsel shall also
state that no facts have come to the attention of such counsel which cause them
to believe that such registration statement, the prospectus contained therein,
or any amendment or supplement thereto, as of their respective effective or
issue dates, contains any untrue statement of any material fact or omits to
state any material fact necessary to make the statements therein not misleading
(except that no statement need be made with respect to any financial statements,
notes thereto or other financial data or other expertized material contained
therein). If for any reason Entertainment Boulevard's counsel is unable to give
such opinion, Entertainment Boulevard shall so notify the Holders of the
Registrable Shares and shall use its best efforts to remove expeditiously all
impediments to the rendering of such opinion.

     10.16 Otherwise use its best efforts to comply with all applicable rules
and regulations of the Commission, and make generally available to its security
Holders earnings statements satisfying the provisions of Section 11(a) of the
Securities Act, no later than forty-five (45) days after the end of any
twelve-month period (or ninety (90)

                                       19
<PAGE>

days, if such period is a fiscal year) (A) commencing at the end of any fiscal
quarter in which the Registrable Shares are sold to underwriters in a firm or
best efforts underwritten offering, or (B) if not sold to underwriters by such
an offering; beginning with the first month of the first fiscal quarter of
Entertainment Boulevard commencing after the effective date of the registration
statement, which statements shall cover such twelve-month periods.

     10.17 After the date hereof, Entertainment Boulevard shall not grant to any
holder of securities of Entertainment Boulevard any registration rights which
would otherwise have a priority greater than those granted to holders pursuant
to this Agreement without first revising the registration rights granted to
holders pursuant to this Agreement to provide such holder with equal priority.

     10.18 Entertainment Boulevard's obligations under Section 10.1 above with
respect to each holder of Registrable Shares are expressly conditioned upon such
holders furnishing to Entertainment Boulevard in writing such information
concerning such holder and the terms of such holder's proposed offering as
Entertainment Boulevard shall reasonably request for inclusion in the
registration statement and entering into such customary underwriting agreements
and lock-up agreements in customary form in the event of underwritten offerings.
If any registration statement including any of the Registrable Shares is filed,
then Entertainment Boulevard shall indemnify each holder thereof (and each
underwriter for such holder and each person, if any, who controls such
underwriter within the meaning of the Securities Act) from any loss, claim,
damage or liability arising out of, based upon or in any way relating to any
untrue statement of a material fact contained in such registration statement or
any omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, except for any such
statement or omission based on information furnished in writing by such holder
of the Registrable Shares expressly for use in connection with such registration
statement; and such holder shall indemnify: Entertainment Boulevard (and each of
its officers and directors who has signed such registration statement, each
director, each person, if any, who controls Entertainment Boulevard within the
meaning of the Securities Act, each underwriter for Entertainment Boulevard and
each person, if any, who controls such underwriter within the meaning of the
Securities Act) and each other such holder against any loss, claim, damage or
liability arising from any such statement or omission which was made in reliance
upon information furnished in writing to Entertainment Boulevard by such holder
of the Registrable Shares expressly for inclusion in such registration
statement.

                                   ARTICLE XI
                           ADDITIONAL RIGHTS OF FMITV

     11.1 Until the later of (i) the termination of this Agreement, or (ii) the
date on which FMiTV owns less than ten percent (10%) (on an as-converted basis)
of the common stock of Entertainment Boulevard, FMiTV shall have the right to
designate an observer to the Board of Directors of Entertainment Boulevard, and
Entertainment Boulevard shall have the obligation to appoint such designee as an
observer to the Board of Directors.

                                       20
<PAGE>

     11.2 In the event Entertainment Boulevard receives a bona fide third-party
offer for the sale of the Entertainment Boulevard Channel during the Term,
Entertainment Boulevard shall deliver to FMiTV a written notice (the
"Disposition Notice") stating the price and basic terms and conditions of the
offer, including the identity of the third-party offeror. The Disposition Notice
shall certify that Entertainment Boulevard has received a firm offer from the
third party offeror and in good faith believes a binding agreement for the
transfer is obtainable on the terms set forth in the Disposition Notice. The
Disposition Notice shall also include a copy of any written proposal, term sheet
or letter of intent or other agreement relating to the proposed transfer. Within
fifteen (15) days of the Disposition Notice, however, FMiTV shall have the first
right, but not the obligation, to purchase the Entertainment Boulevard Channel
at the price, and on the basic terms and conditions stated in the Disposition
Notice. If FMiTV, within such fifteen (15) day period, elects to exercise its
option to purchase the Entertainment Boulevard Channel, it shall give written
notice of such election to Entertainment Boulevard. Should FMiTV fail to
purchase the Entertainment Boulevard Channel within said fifteen (15) day
period, Entertainment Boulevard shall be permitted to sell the Entertainment
Boulevard Channel to the buyer specified in the Disposition Notice subject to
FMiTV's request to participate in such sale; provided, however, that such sale
shall not be at a price, or any other basic terms and conditions, less favorable
to Entertainment Boulevard than as specified in the Disposition Notice.

                                   ARTICLE XII
                                   ASSIGNMENT

     Neither party may assign this Agreement, or any of its rights hereunder, or
delegate any of its duties under this Agreement without the prior written
consent of the other party which consent shall not be unreasonably withheld or
delayed; provided, however, that FMiTV may assign its rights and delegate its
duties to any of its affiliates.

                                  ARTICLE XIII
                         INTELLECTUAL PROPERTY OWNERSHIP

     Each party hereby covenants and agrees that the Intellectual Property
Rights of the other party are and shall remain the sole and exclusive property
of that party, and that neither party shall hold itself out as having any
ownership rights with respect thereto or, except as specifically granted
hereunder, any other rights therein. In addition, except as expressly permitted
hereunder, each party hereby covenants and agrees that it will make no use of
the Intellectual Property Rights of the other party. Any and all goodwill
associated with any such Intellectual Property Rights shall inure directly and
exclusively to the benefit of the owner thereof.

                                   ARTICLE XIV
                                 INDEMNIFICATION

     14.1 INDEMNIFICATION BY ENTERTAINMENT BOULEVARD. Entertainment Boulevard
will indemnify and hold FMiTV and its directors, officers and shareholders,
harmless against any and all claims, actions, demands, liabilities, losses,
damages, judgments,

                                       21
<PAGE>

settlements, reasonable costs and expenses (including reasonable attorneys'
fees) (any or all of the foregoing hereinafter referred to as "Losses") insofar
as such Losses (or actions in respect thereof) arise out of or are based on a
claim from a third party relating to or arising out of (i) any breach by
Entertainment Boulevard of any covenant or any representation or warranty made
in this Agreement, (ii) FMiTV's use of Entertainment Boulevard trademarks,
Content as delivered by Entertainment Boulevard and any third party intellectual
property rights licensed to Entertainment Boulevard, including any infringement
of any third party's intellectual property rights with respect thereto, (iii)
any claims or disputes from Employees of Entertainment Boulevard who are not
Transferred Employees, or (iv) any claims arising from the operation of the
Entertainment Boulevard business brought by any third party, including any
shareholder of Entertainment Boulevard arising from any matter related to
Entertainment Boulevard occurring prior to or during the term of this Agreement
except for claims exclusively based upon the fulfillment of the obligations of
FMiTV pursuant to this Agreement. Any payment hereunder shall be subject to
setoff against any amounts owed by FMiTV under Article II.

     14.2 INDEMNIFICATION BY FMITV. FMiTV will indemnify and hold Entertainment
Boulevard and its directors, officers and shareholders, harmless against any and
all Losses insofar as such Losses (or actions in respect thereof) arise out of
or are based on a claim from a third party relating to or arising out of (i) any
breach by FMiTV of any covenant or any representation or warranty made in this
Agreement, or (ii) any willful misconduct or gross negligence by FMiTV in
connection with its operation of the Entertainment Boulevard Channel.

                                   ARTICLE XV
                                   DISCLAIMERS

     FMiTV makes no representation that the operation of its Site will be
uninterrupted or error free, and such party will not be liable for the
consequences of any interruptions or errors.

                                   ARTICLE XVI
                                  MISCELLANEOUS

     16.1 GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of California, without giving effect to
the conflict of law principles thereof.

     16.2 CHOICE OF VENUE. The parties hereto (i) agree that any legal suit,
action or proceeding arising out of or relating to this Agreement shall be
instituted in a state or federal court of competent jurisdiction in the County
of Los Angeles, State of California, (ii) waive any objection which they may
have now or hereafter to the laying of venue of (a) any such suit, action or
proceeding in a court of competent jurisdiction in the County of Los Angeles,
State of California or (b) in the case of an arbitration, the arbitration in
said county, and hereby consent to the jurisdiction (both in personal and
subject matter) of said court and /or such arbitration panel, and (iii)
irrevocably submit to the exclusive

                                       22
<PAGE>

jurisdiction of (x) the United States District of California or of any court of
the State of California located in the county of Los Angeles, in any suit,
action or proceeding or (y) in the case of an arbitration, the arbitration in
said county.

     16.3 ARBITRATION. The exclusive method for resolving any disputes,
controversies or claims of any nature, including those arising out of or
relating to this Agreement, or the making, validity, interpretation, performance
or breach of this Agreement, shall be arbitration in Los Angeles, California,
under the commercial arbitration rules of the American Arbitration Association.
The single arbitrator shall have the power to award any and all remedies and
relief whatsoever that is deemed appropriate under the circumstances, including,
without limitation, money damages and equitable relief. The award shall be
final, binding and enforceable, and may be enforced by any court of competent
jurisdiction. The procedure whereby the evidence (oral and/or written) relating
to the matter is presented in the arbitration shall be as agreed to by the
parties, and in the absence of such agreement, shall be as determined by the
arbitrator; provided, that each party shall have the right to discovery, to call
witnesses and to cross-examine (either through legal counsel, expert witnesses
or both). The decision of the arbitrator shall be rendered within thirty (30)
days following the conclusion of the arbitration proceeding, but in the event
that the arbitrator does not render an award within such period the arbitrator
shall nonetheless retain jurisdiction of the matter for the purpose of making
and award as soon as reasonably possible. Such arbitration proceedings shall be
the exclusive means to resolve any disputes, controversies or claims between the
parties; provided, however, that either party shall have the right to seek
temporary and/or preliminary injunctive relief in any court of competent
jurisdiction to enjoin violations of this Agreement pending final resolution of
the controversy in arbitration. Pending receipt of the arbitrator's decision,
this Agreement shall remain in full force and effect and the parties hereto
shall continue to perform their respective obligations hereunder.

     16.4 ATTORNEYS' FEES. In any action or proceeding in connection herewith
(at law or at equity), the court in such action shall award a reasonable sum as
attorneys' and accounting fees and costs to the prevailing party.

     16.5 FURTHER ASSURANCES. Each party shall execute and deliver to any other
party such other agreements, instruments and documents, and shall take such
other acts or actions, as reasonably may be requested by such other party, in
order to effectuate fully the transactions contemplated by this Agreement,
promptly upon request therefor.

     16.6 PARTIAL INVALIDITY. In the event that any portion of this Agreement
shall be declared invalid by order, decree or judgment of a court, this
Agreement shall be construed as if such portion had not been inserted herein,
except where such construction would result in an undue hardship upon a party
hereto or constitute a substantial diversion from the general intent and purpose
of the parties as reflected in this Agreement.

     16.7 INDEPENDENT CONTRACTOR. In performing its obligations hereunder, FMiTV
shall be acting as an independent contractor and not as an employee or agent of
Entertainment Boulevard. Nothing contained herein shall constitute a partnership
or joint venture between the parties hereto.

                                       23
<PAGE>

     16.8 ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of
the parties hereto with respect to the subject matter hereof and supersedes any
and all prior agreement, written and oral, with respect thereto. No change,
amendment or modification of any provision of this Agreement shall be valid
unless set forth in a written instrument signed by both parties.

     16.9 NOTICES. Any and all notices and other communications to either party
hereunder shall be in writing and deemed delivered (i) upon receipt if by hand,
overnight courier or telecopy (provided that in the event of a telecopy,
concurrently therewith a copy is mailed in accordance with clause (ii) hereof)
and (ii) three days after mailing by first class, certified mail, postage
prepaid, return receipt requested (1) if to Entertainment Boulevard to Pierre
Narath, c/o Touchstone, 1538 Turnpike Street, North Andover, Massachusetts
01845, telecopier No.: (978) 682-2859, with a copy to Richman, Mann, Chizever,
Phillips & Duboff, 9601 Wilshire Boulevard, Penthouse, Beverly Hills, California
90210, Attention: Gerald M. Chizever, Esq., telecopier No.: (310) 274-2831, and
(2) if to FMiTV, 3400 Riverside Drive, Penthouse, Burbank, California 96505,
Attention: Laurence Norjean, telecopy no (818) 295-5450, with a copy to Loeb &
Loeb LLP, 10100 Santa Monica Boulevard, Suite 2200, Los Angeles, California,
90067-4164, Attention: David Ficksman, Esq., telecopier number: (310) 282-2192,
or to such other address for a party as shall be specified by like notice.

     16.10 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original and together which shall
constitute one and the same instrument.

     16.11 SEVERABILITY. Each provision of this Agreement shall be considered
severable and if, for any reason, any provision hereof is determined to be
invalid and contrary to, or in conflict with, any existing or future law or
regulation by any court or agency having valid jurisdiction, such provision
shall be given the maximum permissible effect, and such invalidity or illegality
shall not impair the operation or affect the remaining provisions of this
Agreement; and the latter shall continue to be given full force and effect and
bind the parties hereto and such invalid provisions shall be deemed not to be a
part of this Agreement.

     16.12 FORCE MAJEURE. Neither party shall be liable to fulfill its
obligations hereunder, or for delays in performance, due to causes beyond its
reasonable control, including, but not limited to, acts of God, acts or
omissions of civil or military authority, fires, strikes, floods, epidemics,
riots or acts of war.

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

                                       24
<PAGE>

                              ENTERTAINMENT BOULEVARD, INC.
                              a Nevada corporation

                              By:
                                 ------------------------------------
                                 Name:
                                 Title: President

                              FMiTV NETWORKS, INC.
                              a Delaware corporation

                              By:
                                 ------------------------------------
                                 Name:
                                 Title: President

                                       25

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