Document:

EX-4.1

EXHIBIT 4.1

LOCKUP AND REGISTRATION RIGHTS AGREEMENT

THIS LOCKUP AND REGISTRATION RIGHTS AGREEMENT is dated as of August, 2007, although it is
being entered into on September 12, 2007, by and among Live Nation, Inc., a Delaware corporation
(the “Company”) and the parties listed on Schedule I attached hereto (the
“Holders”).

RECITALS

WHEREAS, the Company has issued shares of common stock, par value $.01 per share (the
“Common Stock”) to Wells Fargo Bank, National Association, Trustee (the “Trustee
Holder”) under that certain Trust Agreement, dated as of the date hereof (the “Trust
Agreement”), by and among the Company, the Trustee Holder, and the Holders;

WHEREAS, pursuant to the terms of the Trust Agreement, the Common Stock issued to the Trustee
Holder may, in certain circumstances, be transferred to the Holders;

WHEREAS, the parties hereto hereby acknowledge and agree that the Holders shall each be
entitled to the rights granted to Holders under this Agreement and be subject to the obligations of
the Holders under this Agreement, in all such cases irrespective of whether the Trustee Holder has
physical possession of the Purchased Shares (as hereinafter defined); and

WHEREAS, the Company and the Holders wish to provide for certain arrangements with respect to
the sale and registration under the Securities Act of shares of capital stock of the Company.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual promises and obligations contained herein, the
parties agree as follows:

1. CERTAIN DEFINITIONS. As used in this Agreement, the following terms will have the following
respective meanings:

“Acquisition Transaction” is defined in Section 4.3(c).

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

“Agreement” means this agreement and all schedules and exhibits, if any, attached to
this agreement, in each case as they may be supplemented, amended, restated or replaced from time
to time, and the words “hereof,” “herein,” “hereto,” “hereunder,”
“hereby” and similar expressions refer to this agreement; and unless otherwise indicated,
references to Sections, Schedules and Exhibits are to the specified Sections, Schedules and
Exhibits, if any, of this Agreement.

“Applicable Disposition” means any Disposition of all or any Purchased Shares other
than (i) a Permitted Transfer made after termination of the Trust Agreement or (ii) a Disposition
made in connection with the exercise of Piggy-Back Rights under Section 2.2.

“Business Day” means any day that is not a Saturday, a Sunday or a day on which banks
in the State of New York are generally closed for business.

“Change of Control” is defined in Section 4.3(c).

“Commission” means the Securities and Exchange Commission, or any other federal agency
at the time administering the Securities Act or the Exchange Act.

“Common Stock” is defined in the Recitals.

“Common Stock Market Value” means, at any date, the average closing price of the
Common Stock over the prior three trading days on the New York Stock Exchange (or, if the Common
Stock is no longer listed on the New York Stock Exchange, such other national exchange on which it
is so listed, and if the Common Stock is not so listed, as determined in good faith by the
Company’s board of directors within three (3) business days following request from a Holder;
provided that, if within 10 business days following any such determination by the board of
directors, a Holder should disagree with such determination, the Common Stock Market Value shall be
determined by an independent banking firm of national reputation to be mutually agreed upon in good
faith by the Company and the Holder.

“Company” is defined in the Preamble.

“Covered Person” is defined in Section 5.1.

“Demanding Holder” is defined in Section 2.1(a).

“Demand Registration” is defined in Section 2.1(a).

“Disposition” or “Dispose” means to, directly or indirectly, sell, offer,
contract or grant any option to sell, pledge, transfer or establish an open “put equivalent
position” or liquidate or decrease a “call equivalent position” within the meaning of Rule 16a-1(h)
under the Exchange Act, or otherwise dispose of or transfer (or enter into any transaction which is
designed to, or might reasonably be expected to, result in a disposition).

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any
successor to such statute, and the rules and regulations of the Commission issued under such Act,
as they each may, from time to time, be amended and in effect.

“Holders” means the initial Holders as defined in the Preamble, together with any
subsequent holders of Registrable Shares that become parties to this Agreement according to its
terms.

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

“Insider” means an individual who is an officer or director of the Company or a
beneficial owner of ten (10%) or more of any class of the Company’s equity securities that is
registered pursuant to Section 12 of the Exchange Act, all as defined under Section 16 of the
Exchange Act.

“Majority-in-Interest” means the majority of the interest of the Registrable Shares.

“Maximum Number of Securities” is defined in Section 2.1(d).

“Notice of Sale Offer” is defined in Section 4.2(a).

“Offer Period” is defined in Section 4.2(b).

“Permitted Transfer” means a transfer of any Purchased Shares to (1) a Holder, (2)
Affiliates of a Holder, (2) an Immediate Family Member of a Holder or (4) any trust established for
the benefit of one or more Immediate Family Members of a Holder for estate planning purposes.

“Permitted Transferee” means any transferee in respect of a Permitted Transfer.

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

“Pro Rata” is defined in Section 2.1(d).

“Public Offering” means a public offering and sale of Common Stock (or other equity
linked securities of the Company) pursuant to an effective Registration Statement including both
any Underwritten Offering and any registered direct offering in which an investment banking firm is
a placement agent.

“Purchased Shares” means the Common Stock issued to the Holders, on the date hereof,
as set forth on Schedule I attached hereto.

“Register,” “registered,” and “registration” refer to a registration
effected by preparing and filing a registration statement or similar document in compliance with
the Securities Act and the automatic effectiveness or the declaration or ordering of effectiveness
of such Registration Statement or similar document.

“Registrable Shares” means (i) any Purchased Shares held directly or indirectly by a
Holder which such Holder may then Dispose of under Section 4.3(a) hereof and (ii) any
equity securities directly or indirectly issued or issuable with respect to the Purchased Shares
described in clause (i) above by way of stock dividend or stock split or in connection with a
combination of shares, recapitalization, merger, consolidation or other reorganization or
otherwise; provided, that any Purchased Shares shall cease to be Registrable Shares when a
Registration Statement with respect to the sale of such shares shall have become effective under
the Securities Act and such shares shall have been disposed of in accordance with such registration
statement.

“Registration Expenses” means all expenses incurred by the Company in performing and
complying with Section 2, including, without limitation, all registration, filing and NASD fees,
listing fees, all fees and expenses of complying with securities or blue sky laws, all word
processing, duplicating and printing expenses, messenger and delivery expenses, the fees and
disbursements of counsel for the Company and its independent public accountants, including the
expenses of any special audits or “cold comfort” letters required by or incident to such
performance and compliance, premiums and other costs of policies of insurance against liabilities
arising out of the public offering of the Registrable Shares being registered, but excluding
underwriting discounts, selling commissions, applicable transfer taxes, if any, and fees of counsel
for the Selling Holders; provided that, in any case where Registration Expenses are not to
be borne by the Company, such expenses shall not include salaries of Company personnel or general
overhead expenses of the Company, auditing fees, premiums or other expenses relating to liability
insurance required by underwriters of the Company or expenses for the preparation of financial
statements or other data normally prepared by the Company in the ordinary course of its business or
which the Company would have incurred in any event.

“Registration Statement” means a registration statement filed by the Company with the
Commission for a Public Offering under the Securities Act (other than a registration statement on
Form S-8 or Form S-4, or their successors, or any other form for a similar limited purpose).

“Rule 144” means Rule 144 under the Securities Act, and any successor rule or
regulation thereto, and in the case of any referenced section of such rule, any successor section
thereto, collectively and as from time to time amended and in effect.

“Securities Act” means the Securities Act of 1933, as amended, and any successor to
such statute, and the rules and regulations of the Commission issued under such Act, as they each
may, from time to time, be amended and in effect.

“Selling Holder” means any Holder on whose behalf Registrable Shares are registered
pursuant to Section 2.

“Selling Shareholder” is defined in Section 4.2(a).

“Services Agreement” means that certain Services Agreement, dated as of the date
hereof, by and among the Company, Michael Cohl, KSC Consulting (Barbados), Inc., CPI Entertainment
Content (2005), Inc., CPI Entertainment Content (2006), Inc., Grand Enterprises (Row), LLC, CPI
International Touring Inc. and CPI Touring (USA), Inc.

“Trust Agreement” is defined in the Recitals.

“Trustee Holder” is defined in the Recitals.

“Underwritten Offering” means an offering in which Common Stock is sold to an
underwriter on a firm commitment basis for reoffering to the public or an offering that is a
“bought deal” with one or more investment banks.

2. REGISTRATION RIGHTS.

2.1. Demand Registration.

(a) Request for Registration. At any time prior to the fifth (5th) anniversary of the
date hereof, the holders of a Majority-in-Interest of the Registrable Shares held by the Holders
covered by this agreement may make a written demand for registration under the Securities Act of
all or part of their Registrable Shares (a “Demand Registration”). Any demand for a Demand
Registration shall specify the number of Registrable Shares proposed to be sold and the intended
method(s) of distribution thereof; provided, that any such Demand Registration shall
involve a sale of Registrable Shares in a Public Offering in which the aggregate gross cash
proceeds of such offering are expected to be at least equal to $50,000,000. The Company will
notify all holders of Registrable Shares of the demand, and each Holder of Registrable Shares who
wishes to include all or a portion of such holder’s Registrable Shares in the Demand Registration
(each such holder including Registrable Shares in such registration, a “Demanding Holder”)
shall so notify the Company within fifteen (15) days after the receipt by the holder of the notice
from the Company. Upon any such request, the Demanding Holders shall be entitled to have their
Registrable Shares included in the Demand Registration, subject to the provisions of Section 2.1(d)
and 3.12 hereof. The Company shall not be obligated to effect more than an aggregate of two (2)
Demand Registrations under this Section 2.1(a) in respect of Registrable Shares.

(b) Effective Registration. A registration will not count as a Demand Registration
until the Registration Statement filed with the Commission with respect to such Demand Registration
registering the Registrable Shares specified in the notice received pursuant to Section 2.1(a),
determined on the basis described in Section 2.1(a), has been declared effective and the Company
has complied with all of its obligations under this Agreement with respect thereto;
provided, however, that if, after such Registration Statement has been declared
effective, the offering of Registrable Shares pursuant to a Demand Registration is interfered with
by any stop order or injunction of the Commission or any other governmental agency or court, the
Registration Statement with respect to such Demand Registration will be deemed not to have been
declared effective, unless and until, such stop order or injunction is removed, rescinded or
otherwise terminated.

(c) Underwritten Offering. If a Majority-in-Interest of the Demanding Holders so
elect and such holders so advise the Company as part of their written demand for a Demand
Registration, the offering of such Registrable Shares pursuant to such Demand Registration shall be
in the form of an Underwritten Offering. In such event, the right of any Holder to include its
Registrable Shares in such registration shall be conditioned upon such Holder’s participation in
such underwriting and the inclusion of such holder’s Registrable Shares in the underwriting to the
extent provided herein. All Demanding Holders proposing to distribute their securities through
such underwriting shall enter into an underwriting agreement in customary form with the underwriter
or underwriters selected for such underwriting by a Majority-in-Interest of the holders initiating
the Demand Registration, and the Company shall have the right to approve of any such underwriter or
underwriters (which approval shall not be unreasonably withheld or delayed).

(d) Reduction of Offering. If the managing underwriter or underwriters for a Demand
Registration that is to be an Underwritten Offering advises the Company and the Demanding Holders
in writing that the dollar amount or number of Registrable Shares which the Demanding Holders
desire to sell, taken together with all other shares of Common Stock or other securities which the
Company desires to sell and the shares of Common Stock or other securities, if any, as to which
registration has been requested pursuant to written contractual piggy-back registration rights held
by other stockholders of the Company who desire to sell, exceeds the maximum dollar amount or
maximum number of securities that can be sold in such offering without adversely affecting the
proposed offering price, the timing, the distribution method, or the probability of success of such
offering (such maximum dollar amount or maximum number of securities, as applicable, the
“Maximum Number of Securities”), then the Company shall include in such registration:
(i) first, the Registrable Shares as to which Demand Registration has been requested by the
Demanding Holders (pro rata in accordance with the number of securities that each such Person has
requested be included in such registration, regardless of the number of securities held by each
such Person (such proportion is referred to herein as “Pro Rata”)) that can be sold without
exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clause (i), the shares of Common Stock or other
securities that the Company desires to sell that can be sold without exceeding the Maximum Number
of Securities; (iii) third, to the extent that the Maximum Number of Securities has not been
reached under the foregoing clauses (i) and (ii), the shares of Common Stock or other securities
for the account of other Persons that the Company is obligated to register pursuant to written
contractual arrangements with such Persons and that can be sold without exceeding the Maximum
Number of Securities.

(e) Withdrawal. If a Majority-in-Interest of the Demanding Holders disapprove of the
terms of any underwriting or are not entitled to include all of their Registrable Shares in any
offering, such Majority-in-Interest of the Demanding Holders may elect to withdraw from such
offering by giving written notice to the Company and the underwriter or underwriters of their
request to withdraw prior to the effectiveness of the Registration Statement filed with the
Commission with respect to such Demand Registration. If the Majority-in-Interest of the Demanding
Holders withdraws from a proposed offering relating to a Demand Registration, then such
registration shall not count as a Demand Registration provided for in this Section 2.1.

2.2. Piggy-Back Registration.

(a) Piggy-Back Rights. If, at any time prior to the fifth (5th) anniversary hereof,
the Company proposes to register any of its Common Stock or other equity securities under the
Securities Act, for its own account or for the account of any holder of its securities, pursuant to
an Underwritten Offering on a Registration Statement that would permit registration of Registrable
Shares for sale to the public under the Securities Act, then prior to such filing the Company will
give written notice to all Holders of its intention to do so, and upon the written request of a
Holder or Holders given within 20 days after the Company provides such notice (which request will
state the intended method of disposition of such Registrable Shares), the Company will use
reasonable best efforts to cause all Registrable Shares that the Company has been requested to
register to be registered under the Securities Act to the extent necessary to permit their sale or
other disposition in accordance with the intended methods of distribution specified in the request
of such Holder(s); provided that the Company will have the right to postpone or withdraw
any registration initiated by the Company pursuant to this Section 2.2 without obligation
to any Holder.

(b) Reduction in Offering. Notwithstanding any other provision of this Agreement, if
the managing underwriter or underwriters determine that the inclusion of all shares requested to be
registered in an Underwritten Offering would adversely affect the offering, the Company may limit
the number of Registrable Shares to be included in the Registration Statement for such offering.
The number of shares that are entitled to be included in the Registration Statement for such
offering will be allocated in the following manner: (i) first, shares of Company equity securities
that the Company desires to include in such registration will be included to the extent the Maximum
Number of Securities will not be exceeded, (ii) second, to the extent the Maximum Number of
Securities has not been reached under the foregoing clause (i), Registrable Shares requested to be
included in such registration by Holders, will be included, Pro Rata, to the extent the Maximum
Number of Securities will not be exceeded, and (iii) third, to the extent the Maximum Number of
Securities has not been reached under the foregoing clauses (i) and (ii), the shares of Company
equity securities requested to be included in such registration by shareholders other than the
Holders.

(c) Withdrawal. Any Holder may elect to withdraw such Holder’s request for inclusion
of Registrable Shares in any Piggy-Back Registration by giving written notice to the Company of
such request to withdraw prior to the effectiveness of the Registration Statement. The Company
(whether on its own determination or as the result of a withdrawal by persons making a demand
pursuant to written contractual obligations) may withdraw a registration statement at any time
prior to the effectiveness of the Registration Statement. Notwithstanding any such withdrawal, the
Company shall pay all expenses incurred by the holders of Registrable Shares in connection with
such Piggy-Back Registration as provided in Section 4.4.

2.3. Right of the Company to have Purchased Shares included in an Underwritten
Offering.

(a) Right of the Company. If in compliance with the terms of this Agreement at any
time prior to the fifth (5th) anniversary of the date hereof, Holders elect to Dispose of Purchased
Shares having a value equal to or in excess of $50,000,000, the Company shall have the right,
exercisable by notice to the Holders within five (5) days following receipt by the Company of
notice of the Holders’ intent to effectuate such Disposition transaction, to require that such
Purchased Shares to be Disposed of be sold in an Underwritten Offering.

(b) Underwritten Offering. If the Company elects to have Purchased Shares be sold in
an Underwritten Offering by exercising its right under Section 2.3(a), all Holders
Disposing of their securities through such underwriting shall enter into an underwriting agreement
in customary form with the underwriter or underwriters selected for such underwriting by the
Company. The Company shall use its reasonable best efforts to ensure that such Underwritten
Offering is completed as expeditiously as possible as provided in Section 3 below.

(c) Withdrawal. Any Holder that is required to Dispose of Purchased Shares in an
Underwritten Offering pursuant to this Section 2.3 may elect to withdraw such Holder’s
request to Dispose of such Purchased Shares by giving written notice to the Company of such request
to withdraw prior to the effectiveness of the Registration Statement.

2.4. Excluded Transactions. The Company will not be obligated to effect any
registration of Registrable Shares under this Section 2 incidental to the registration of
any of its securities in connection with any Public Offering relating solely to employee benefit
plans or dividend reinvestment plans.

3. REGISTRATION PROCEDURES. If and whenever the Company is required by the provisions of
Section 2.1 or 2.2 of this Agreement or elects pursuant to Section 2.3 of
this Agreement to effect the registration of any of the Registrable Shares under the Securities
Act, the Company shall use its reasonable best efforts to effect the registration and sale of
Registrable Shares, and the Company and the Selling Holders will take the actions described below
in this Section 3.

3.1. Registration Statement. The Company will as expeditiously as possible and in any
event within sixty (60) days after receipt of a request for a Demand Registration pursuant to
Section 2.1, or its election to require an Underwritten Offering as provided in Section
2.3, prepare and file with the Commission a Registration Statement with respect to such
Registrable Shares and use its reasonable best efforts to cause that Registration Statement to
become effective and remain effective for the period required by Section 3.2.

3.2. Amendments and Supplements. The Company will prepare and file with the
Commission any amendments and supplements to the Registration Statement and the prospectus included
in the Registration Statement as may be necessary to keep the Registration Statement effective and
in compliance with the provisions of the Securities Act until all Registrable Shares and other
securities covered by such Registration Statement have been disposed of in accordance with the
intended method of distribution therefore.

3.3. Copies of Prospectus. The Company will furnish, without charge, to each Selling
Holder such reasonable numbers of copies of the Registration Statement, the prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities Act, any amendments
or supplements thereto (in each case including all exhibits thereto and documents incorporated by
reference therein), and such other documents as the Selling Holder may reasonably request in order
to facilitate the public sale or other disposition of the Registrable Shares owned by the Selling
Holder.

3.4. Blue Sky Qualification. The Company will use its reasonable best efforts to
register or qualify the Registrable Shares covered by the Registration Statement under the
securities or blue sky laws of such states as each Selling Holder reasonably requests, take such
action necessary to cause such Registrable Shares covered by the Registration Statement to be
registered with or approved by any governmental authorities as may be necessary by virtue of the
business and operations of the Company, and do any and all other reasonable acts and things that
may be necessary or desirable to enable the Selling Holders to consummate the public sale or other
disposition in such jurisdictions of the Registrable Shares covered by the Registration Statement;
provided, however, that the Company will not be obligated to file any general
consent to service of process or to qualify as a foreign corporation in any jurisdiction in which
it is not so qualified or to subject itself to taxation in respect of doing business in any
jurisdiction in which it would not otherwise be so subject.

3.5. Agreements for Disposition. The Company shall enter into an underwriting
agreement in customary form and take such other actions as are reasonably required in order to
expedite or facilitate the disposition of the Registrable Shares. The representations, warranties
and other agreements of the Company in any underwriting agreement which are made to or for the
benefit of any underwriters, to the extent applicable, shall also be made to and for the benefit of
the Selling Holders.

3.6. Records. The Company shall make available for inspection by the Selling Holders
of Registrable Shares included in the Registration Statement, any underwriter participating in any
disposition pursuant to such Registration Statement and any attorney, accountant or other
professional retained by any Selling Holder of Registrable Shares included in such Registration
Statement or any underwriter, all financial and other records, pertinent corporate documents and
properties of the Company, as shall be necessary to enable them to establish a due diligence
defense under the Securities Act (the “Diligence Materials”) and cause the Company’s
officers, directors and employees to supply the Diligence Materials; provided that the
Company need not disclose any information to any Person pursuant to this Section 3.6 unless and
until such Person has entered into a confidentiality agreement with the Company.

3.7. Opinion of Counsel; Comfort Letter. The Company will obtain all legal opinions,
auditors’ consents and comfort letters and experts’ cooperation as may be required, including
furnishing to each Selling Holder of such Registrable Shares a signed counterpart, addressed or
confirmed to such Selling Holder, of (a) an opinion of counsel for the Company and (b) a “cold
comfort” letter signed by the independent public accountants who have certified the Company’s
financial statements included in such Registration Statement, covering substantially the same
matters as are customarily covered in opinions of issuer’s counsel and in accountants’ letters
delivered to underwriters in Underwritten Offerings of securities.

3.8. Earnings Statement. The Company shall comply with all applicable rules and
regulations of the Commission and the Securities Act, and make available to its stockholders, as
soon as practicable, an earnings statement covering a period of twelve (12) months, beginning
within three (3) months after the effective date of the registration statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder.

3.9. Listing and Transfer Agent. The Company will cause all Registrable Shares
covered by the Registration Statement to be listed on each securities exchange or automated
quotation system on which similar securities issued by the Company are then listed. The Company
will provide and cause to be maintained a transfer agent and registrar for all Registrable Shares
covered by the Registration Statement not later than the effective date of such Registration
Statement.

3.10. Notice of Certain Events.

(a) The Company will promptly notify the Selling Holders and confirm such advice in writing in
all events following the occurrence of any of the following: (i) when Registration Statement
covering Registrable Shares becomes effective; (ii) when any post-effective amendment to such
Registration Statement becomes effective; (iii) the issuance or threatened issuance by the
Commission of any stop order (and the Company shall take all actions required to prevent the entry
of such stop order or to remove it if entered); (iv) any request by the Commission for any
amendment or supplement to such Registration Statement or any prospectus relating thereto or for
additional information; or (v) to the Company’s knowledge, the happening of an event, as a result
of which the prospectus included or to be included in the Registration Statement includes an untrue
statement of a material fact or omits to state any material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the circumstances then
existing.

(b) Upon receipt of a notification pursuant to clause (a)(v) above, the Selling Holders will
immediately cease making offers of Registrable Shares and return all prospectuses to the Company
(except each of them may retain one file copy). The Company will promptly revise such prospectus
as may be necessary so that such prospectus shall not include an untrue statement of a material
fact or omit to state such a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then existing. The Company
will promptly deliver copies of such revised prospectus to each Selling Holder. Following receipt
of the revised prospectus, the Selling Holders will be free to resume making offers of the
Registrable Shares. The Company will extend the period during which the Registration Statement
must be kept effective pursuant to this Agreement by the number of days during the period from and
including the date of giving such notice to and including the date when the Selling Holders shall
have received copies of the revised prospectus.

3.11. Delay of Registration and Suspension of Offering. If at any time after a
Registration Statement has become effective, (a) the board of directors of the Company determines
in good faith that the registration and distribution of Registrable Shares would materially impede,
delay or interfere with, or require premature disclosure of (i) any material acquisition, merger,
joint venture or corporate reorganization, (ii) any material matter relating to the operation of
the Company (such as a major tour event) or (iii) any negotiations, discussions or pending
proposals with respect to any of the items referred to in the foregoing clauses (i) and (ii),
(b) the Company is in possession of material non-public information or (c) the Company is in a
black-out period with regards to earning results, then the Company may direct that use of the
prospectus contained in the Registration Statement be suspended for a reasonable period in relation
to the nature of the event triggering such suspension, such period not to exceed 90 days. The
Company will notify all Holders requesting the registration or all Selling Holders, as the case may
be, of the delay or suspension. In the case of notice suspending an effective Registration
Statement, each Selling Holder will immediately discontinue any sales of Registrable Shares
pursuant to such Registration Statement until such Selling Holder has received copies of a
supplemented or amended prospectus or until such Selling Holder is advised in writing by the
Company that the then-current prospectus may be used and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference in such prospectus.
The Company will extend the period during which any such Registration Statement must be kept
effective pursuant to this Agreement by the number of days during the period from and including the
date of giving such notice to and including the date when the Selling Holders shall have received
copies of the supplemented or amended prospectus. The Company may not exercise the rights provided
by this Section 3.11 to effect a delay or suspension (y) more than once for the conditions set
forth in clause (a) above for each separate registration and distribution and (z) more than once
for the conditions set forth in clauses (b) and (c) above for each separate registration and
distribution, and the Company’s right to effect a delay or suspension is subject to the receipt by
the Selling Holders of a certificate signed by the Chief Executive Officer of the Company
certifying that the conditions set forth in clause (a), (b) or (c) above, as the case may be, have
been satisfied.

4. CERTAIN OTHER PROVISIONS.

4.1. Additional Procedures. Selling Holders selling Registrable Shares in an
Underwritten Offering shall enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting. The Selling Holders shall provide such
information as may reasonably be requested by the Company, or the managing underwriter or
underwriters, if any, in connection with the preparation of any Registration Statement, including
amendments and supplements thereto, in order to effect the registration of any Registrable Shares
under the Securities Act pursuant to Section 2 and in connection with the Company’s
obligation to comply with federal and applicable state securities laws. No holder of Registrable
Shares included in such registration statement shall be required to make any representations or
warranties in the underwriting agreement except, if applicable, with respect to such holder’s
organization, good standing, authority, title to Registrable Shares, lack of conflict of such sale
with such holder’s material agreements and organizational documents, and with respect to written
information relating to such holder that such holder has furnished in writing expressly for
inclusion in such Registration Statement.

4.2. Right of First Refusal of the Company.

(a) Subject to the restrictions on Disposition provided for in Section 4.3, in the
event any Holder (a “Selling Shareholder”) desires to (i) make an Applicable Disposition of
any Purchased Shares or (ii) make a Demand Registration pursuant to Section 2.1 with
respect to any Purchased Shares, then such Selling Shareholder shall first deliver to the Company a
notice (a “Notice of Sale Offer”) which shall include the number of Purchased Shares which
are desired to be included in the Applicable Disposition or the Demand Registration (the
“Refusal Shares”). The Notice of Sale Offer shall include an offer to sell to the Company
all of the Refusal Shares at a price equal to the Common Stock Market Value as of the day the
Notice of Sale Offer is delivered to the Company.

(b) The option to purchase Purchased Shares may be exercised by the Company by delivery by the
Company of a notice to the Selling Shareholder within five (5) business days following receipt by
the Company of the Notice of Sale Offer (the “Offer Period”) stating that the Company
intends to acquire all of the Purchased Shares to be Disposed of by the Selling Shareholder. Such
communication shall, when taken in conjunction with the offer as contained within the Notice of
Offer, be deemed to constitute a valid, legally binding and enforceable agreement for the sale and
purchase of such Purchased Shares.

(c) If the Company (i) does not elect to purchase all of the Refusal Shares identified in the
Notice of Sale Offer, (ii) fails to deliver a notice to the Selling Shareholder within the Offer
Period stating that the Company intends to purchase such Refusal Shares or (iii) fails, for any
reason other than a failure of the Selling Shareholder to comply with its obligations to sell such
Refusal Shares, to purchase such Refusal Shares within ten (10) days following the delivery by the
Company of a notice stating that the Company intends to purchase such Refusal Shares as provided in
Section 4.2(b) above (prior to the expiration of the Offer Period), then the Company shall
not have a right to purchase any of such Refusal Shares and the Selling Shareholder shall be free
within one hundred eighty (180) days after the date of expiration of the Offer Period to Dispose of
such shares in accordance with and subject to the other terms of this Agreement. If there is no
Disposition within such one hundred eighty (180) day period, the Selling Shareholder shall not
Dispose of such Refusal Shares without again complying with the provisions of this Section
4.2.

(d) If, at any time prior to the termination of the Trust Agreement, the Company timely
accepts a Notice of Sale Offer, then the Company and the Shareholder shall promptly deliver joint
written instructions to the Trustee Holder instructing the Trustee Holder to sell the Refusal
Shares identified in such Notice of Sale Offer to the Company at a specific price per share
designated therein, which price shall be equal to the Common Stock Market Value as of the day the
Notice of Sale Offer was delivered to the Company.

(e) If, after termination of the Trust Agreement, the Company timely accepts a Notice of Sale
Offer, then upon the Company’s tender of the purchase price for the Refusal Shares identified in
such Notice of Sale Offer, the Selling Shareholder shall deliver to the Company, a certificate or
certificates evidencing such Refusal Shares, together with appropriate stock powers in blank duly
signed by such Selling Shareholder.

(f) Notwithstanding anything to the contrary herein, no Holder may make (i) an Applicable
Disposition of any Purchased Shares or (ii) a Demand Registration pursuant to Section 2.1 with
respect to any Purchased Shares if such Holder is not in compliance with the requirements of this
Section 4.2 with respect to such Purchased Shares.

4.3. Lock-Up. (a) No Holder may Dispose of all or any Purchased Shares other than in
accordance with the following clauses of this Section 4.3(a) (and then only in accordance
with applicable securities laws) and subject to Section 4.2 and Sections 4.3(b), (c)
and (d):

(i) Following the first anniversary of the date hereof, the Holders may Dispose
of up to one-third in aggregate of their Purchased Shares.

(ii) Following the earlier of (a) the second anniversary of the date hereof or
(b) the date upon which the Common Stock Market Value exceeds $61.50, the Holders
may Dispose of up to two-thirds in aggregate of their Purchased Shares less any such
Purchased Shares Disposed of pursuant to clause (i) above. The right to Dispose of
Purchased Shares pursuant to this Section 4.3(a)(ii)(b) shall remain
effective notwithstanding the Common Stock Market Value may decline to an amount
which is less than $61.50.

(iii) From and after the third anniversary of the date hereof, the Holders may
Dispose of any and all Purchased Shares.

(iv) No Disposition of Purchased Shares made pursuant to this Section
4.3(a) shall be made to any competitor of the Company (or any Affiliate of a
competitor of the Company) with consolidated gross revenues of more than
$100,000,000 during the most recent fiscal year, or any known intermediary for any
such competitor (or any Affiliate of such competitor), without the prior approval of
the Company except pursuant to an Underwritten Offering.

(b) For purposes of applying Section 4.3(a), the Common Stock Market Value at any time
shall be appropriately adjusted for stock splits, reverse splits, dividends and other
distributions, recapitalizations, and other similar transactions affecting the Common Stock for
purposes of preserving the intent of the comparison between such Common Stock Market Value and the
Common Stock Market Value on the date hereof as if the Common Stock Market Value on the date hereof
were $20.50.

(c) Notwithstanding Section 4.3(a) but subject in all events to Sections 4.3(d),
(e), and (f), any Holder may, from time to time, transfer all or any of its Purchased Shares:

(i) in a Permitted Transfer that is made after termination of the Trust
Agreement, provided that in each case the transferor Holder shall have first
delivered to the Company the written agreement of the Permitted Transferee in such
Permitted Transfer to become a party to this Agreement to the same extent as if such
transferee were the Holder;

(ii) in connection with or at any time after an Acquisition Transaction; where
an “Acquisition Transaction” means (A) any Person or Group (as such term is
defined in Section 13(d) of the Exchange Act) commencing a tender or exchange offer
seeking to acquire control of the Company, but only a transfer to such Person or
Group pursuant to such offer, (B) any Person or Group acquiring securities of the
Company representing at least 50% of the voting power of all of the outstanding
securities of the Company (a “Change of Control”), (C) individuals who on
the date hereof constitute the board of directors of the Company cease for any
reason to constitute a majority of the board of directors of the Company, or (D) any
transaction as to which the Company has entered into a definitive agreement or
publicly announced its support of which, if effected, would constitute a Change of
Control, but then only a transfer pursuant to such transaction;

(iii) in the event the Company fails to cause the Purchased Shares to be
transferred by the Trustee Holder to the Holders pursuant to Section 1.5 of the
Trust Agreement within eighteen (18) months following the date hereof unless (A) the
Purchased Shares would have been transferred to the Holders prior to the expiration
of such eighteen (18) months had Section 1.5(e) of the Trust Agreement not applied
or (B) the Company’s failure to cause the Purchased Shares to be transferred by the
Trustee Holder to the Holders pursuant to Section 1.5 of the Trust Agreement is
caused by the refusal or failure of one or both of the Holders to reasonably
cooperate with, or provide reasonably requested information concerning the Holders
and their relationship to, the Company in connection with the preparation of any
proxy statement required to be provided to the Company’s stockholders in order to
authorize such transfer of the Purchased Shares;

(iv) in the event that an unrelated third party makes an unsolicited tender
offer for a majority of the issued and outstanding Common Stock, unless one or more
of the Holders (or any of their respective Affiliates) are participating in, or
assisting with, the making of such tender offer; provided, however,
that Holders shall only be entitled, pursuant to this clause (iv), to tender
Purchased Shares into such tender offer;

(v) in the event of the death or permanent disability of Michael Cohl;

(vi) in the event the Company terminates the Services Agreement without “cause”
(as such term is defined in the Services Agreement), or Michael Cohl terminates the
Services Agreement as a result of a “Good Reason” (as such term is defined in the
Services Agreement);

(vii) in the event the Company consummates a Public Offering with an aggregate
offering price of $750,000,000 or greater;

(viii) in the event the Company fails to nominate Michael Cohl for election as
a director when required to do so pursuant to the terms and conditions of the
Services Agreement or the shareholders of the Company fail to elect Michael Cohl to
the board of directors of the Company following his nomination;

(ix) the Company fails or refuses to designate Cohl as the sole Vice Chairman
of the board of directors at any time that Cohl is a member of the board of
directors; or

(x) with the prior written consent of the Company.

(d) No Holder may Dispose of all or any of the Purchased Shares in the event the board of
directors of the Company has authorized a Public Offering and the Company is actively pursuing such
Public Offering, as follows:

(i) prior to the public announcement of such Public Offering, the Company may
prohibit any Dispositions of Purchased Shares by the Holders if Michael Cohl is then
a director and/or executive officer of the Company;

(ii) following the public announcement of such Public Offering, the Company may
prohibit any Dispositions of Purchased Shares by the Holders, irrespective of
whether Michael Cohl is then a director or an executive officer of the Company,
until such time as the Public Offering is consummated; provided, that the
Company may not prohibit Dispositions of Purchased Shares for a period of more than
ninety (90) days pursuant to clauses (d)(i) and (d)(2) unless the Company includes
all Registrable Shares held by the Holders which the Holders shall request to be
included in such Public Offering; and

(iii) following the closing of such Public Offering, the Company may prohibit
any Dispositions of Purchased Shares by the Holders until expiration of the lock-up
term contained in the lock-up agreements required to be signed by executive officers
and directors of the Company by the underwriter in such Public Offering.

(e) Notwithstanding in this Agreement to the contrary, in the event that Michael Cohl resigns
from the board of directors of the Company prior to the third anniversary of the date hereof for
any reason other than a “Defensive Resignation” (as hereinafter defined), then the Holders shall be
required to hold (and not Dispose of) the Reserved Shares (other than a Permitted Transfer made
after termination of the Trust Agreement) until the earlier of (i) the fifth anniversary of the
date hereof or (ii) the occurrence of any of the events identified in Section 4(c)(ii) –
(viii) (unless any of such events shall have previously occurred, in which case the provisions
of this Section 4(d) shall not apply to any of the Purchased Shares). For purposes of this
Section 4(d), the terms “Defensive Resignation,” “Material Company Failure,” “Uncorrected
Material Company Failure” and “Reserved Shares” shall have the following meanings:

(i) “Defensive Resignation” shall mean a resignation by Michael Cohl from the
board of directors of the Company solely as a result of an Uncorrected Material
Company Failure;

(ii) “Material Company Failure” shall mean (A) the material breach of a
fiduciary duty owed to members of the Company’s board of directors to shareholders
or others, (B) a violation of any applicable law by the Company or any of the
Company’s subsidiaries or affiliates that, if discovered and prosecuted, could
reasonably be expected to (1) have a material adverse effect on the business or
operations of the Company or any of its subsidiaries or affiliates or (2) result in
criminal penalties or sanctions or material civil fines against the Company, any of
its subsidiaries or affiliates, or any individual members of any of the Company’s
board of directors or (C) a repeated and established pattern by the Company or any
of its subsidiaries or affiliates of violating self-established procedures and
practices relating to ethics, self-dealing, corporate governance or similar matters;

(iii) “Uncorrected Material Company Failure” shall mean any Material Company
Failure (A) that Michael Cohl or another member of the board of directors of the
Company presents to the board of directors of the Company for cure or correction and
(B) with respect to which the board of directors of the Company refuses or fails to
promptly take such actions as may be necessary to correct the Material Company
Failure following such presentation; and

(iv) “Reserved Shares” shall mean 1,082,939 of the Purchased Shares, with such
number of Purchased Shared being hereafter appropriately adjusted for stock splits,
reverse splits, dividends and other distributions, recapitalizations, and other
similar transactions affecting the Common Stock.

(f) Notwithstanding any other terms of this Agreement, any Holder must comply with (i) all
applicable provisions of Section 10(b) and Section 16 of the Exchange Act and the rules and
regulations promulgated thereunder, (ii) Rule 309.00 of the Listed Company Manual of the New York
Stock Exchange and (iii) any rules, procedures or restrictions relating to the transfer of Common
Stock by Insiders which are established by the Company from time to time.

(g) Any Disposition of Purchased Shares made in contravention of any of the provisions of this
Section 4.3 shall not be recognized by the Company and shall be void and of no effect.

(h) If and whenever a Holder holds a share certificate for Purchased Shares on which a legend
appears referencing the restrictions set forth in this Section 4.3 and some or all of which
Purchased Shares the Holder is then entitled to sell pursuant to Section 4.3(a) or any of
Sections 4.3(c)(ii) — (viii), then LN shall deliver to such Holder (i) a replacement share
certificate without such legend for such shares within five Business Days of such Holder’s request
therefor and delivery to LN of the share certificate with the legend (the “original certificate”)
and (ii) a replacement share certificate with such legend for any additional shares evidenced by
the original certificate which remain subject to the restrictions set forth in this Section
4.3.

4.4. Registration Expenses. The Company hereby agrees to pay all Registration
Expenses in connection with all registrations effected pursuant to this Agreement. The
underwriting discounts, selling commissions, applicable transfer taxes, if any, and fees of counsel
for the Selling Holders shall be allocated pro rata among all Selling Holders to
the extent there are Selling Holders in such registration, on the basis of the respective amounts
of the securities then being registered on their behalf.

5. INDEMNIFICATION.

5.1. Company Indemnification. In the event of any registration of any of the
Registrable Shares under the Securities Act pursuant to this Agreement, then to the extent
permitted by law, the Company will indemnify and hold harmless each Selling Holder, its Affiliates,
its directors, officers, employees, agents, partners, members, attorneys and each other Person, if
any, who controls such Selling Holder within the meaning of the Securities Act or the Exchange Act
(each such Person being a “Covered Person”) against any losses, claims, judgments, damages,
liabilities, costs or expenses (including reasonable attorneys’ fees, whether incurred in an action
between the Selling Holder and the Company, a third party or otherwise), whether joint or several,
to which such Covered Person may become subject under the Securities Act, the Exchange Act, state
securities laws or otherwise, insofar as such losses, claims, judgments, damages, liabilities,
costs or expenses (or actions in respect thereof) arise out of or are based upon (a) any untrue
statement or alleged untrue statement of any material fact contained in any Registration Statement
under which such Registrable Shares were registered under the Securities Act, any preliminary or
final prospectus contained in the Registration Statement, or any amendment or supplement to such
Registration Statement, or (b) the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein (in the case of a
prospectus, in light of the circumstances under which they were made) not misleading; and the
Company will reimburse such Covered Person for any legal or any other expenses reasonably incurred
by such Covered Person in connection with investigating or defending any such loss, claim,
judgment, damage, liability or action; provided, however, that the Company will not
be liable to any Covered Person in any such case (x) to the extent that any such loss, claim,
judgment, damage, liability, cost or expense arises out of or is based upon any untrue statement or
alleged untrue statement or omission or alleged omission made in such Registration Statement,
preliminary or final prospectus, or any such amendment or supplement, in reliance upon and in
conformity with information furnished to the Company, in writing, by or on behalf of such Covered
Person specifically for use in the preparation of any Registration Statement under which such
Registrable Shares were registered under the Securities Act, any preliminary or final prospectus
contained in the Registration Statement, or any amendment or supplement to such Registration
Statement or (y) provided that the Company has complied with its obligations under Section
3.8, in the case of a sale directly by a Selling Holder (including a sale of such Registrable
Shares through any underwriter retained by such Selling Holder engaging in a distribution solely on
behalf of such Selling Holder), such untrue statement or alleged untrue statement or omission or
alleged omission was contained in a preliminary prospectus and corrected in a final or amended
prospectus, and such Selling Holder failed to deliver a copy of the final or amended prospectus at
or prior to the confirmation of the sale of the Registrable Shares to the person asserting any such
loss, claim, judgment, damage or liability in any case in which such delivery is required by the
Securities Act. Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of such Covered Person and shall survive the transfer of such
securities by the Selling Holder.

5.2. Seller Indemnification. In the event of any registration of any of the
Registrable Shares under the Securities Act pursuant to this Agreement, then to the extent
permitted by law, each Selling Holder will indemnify and hold harmless the Company, its Affiliates,
each of its directors, officers, employees, agents, partners, members and each Person, if any, who
controls the Company, against any losses, claims, judgments, damages or liabilities, costs or
expenses (including reasonable attorneys’ fees, whether incurred in an action between the Selling
Holder and the Company, a third party or otherwise), whether joint or several, to which the
Company, such directors, officers, employees, agents, partners, members or controlling persons may
become subject under the Securities Act, Exchange Act, state securities laws or otherwise, insofar
as such losses, claims, judgments, damages, liabilities, costs or expenses (or actions in respect
thereof) arise out of or are based upon (a) any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement under which such Registrable Shares were
registered under the Securities Act, any preliminary or final prospectus contained in the
Registration Statement, or any amendment or supplement to the Registration Statement or (b) any
omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, if the statement or omission was made in
reliance upon and in conformity with information furnished in writing to the Company by or on
behalf of such Selling Holder, specifically for use in connection with the preparation of such
Registration Statement, preliminary or final prospectus, amendment or supplement; provided,
however, that the obligations of such Selling Holder hereunder will be limited to an amount
equal to the net proceeds actually received by such Selling Holder from the disposition of
Registrable Shares pursuant to such registration. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of the Company, or any directors,
officers, employees, agents, partners, members or controlling persons and shall survive the
transfer of such securities by the Selling Holder.

5.3. Notice of Claims, etc. Promptly after receipt by an indemnified party of notice
of the commencement of any action or proceeding involving a claim of the type referred to in the
foregoing provisions of this Section 5, such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party, give written notice to each such indemnifying
party of the commencement of such action; provided, however, that the failure of
any indemnified party to give such notice will not relieve such indemnifying party of its
obligations under this Section 5, except to the extent that such indemnifying party is
materially prejudiced by such failure. In case any such action is brought against an indemnified
party, each indemnifying party will be entitled to participate in and to assume the defense
thereof, jointly with any other indemnifying party similarly notified, to the extent that it may
wish, with counsel reasonably satisfactory to such indemnified party, and (subject to the following
sentence) after notice from an indemnifying party to such indemnified party of its election to
assume the defense thereof, such indemnifying party will not be liable to such indemnified party
for any legal or other expenses subsequently incurred by the latter in connection with the defense
thereof. The indemnified party may participate in such defense at such party’s expense;
provided, however, that the indemnifying party will pay such expense if
representation of such indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential conflicts of interest between the indemnified party and
any other party represented by such counsel in such proceeding; provided, further,
that in no event will the indemnifying party be required to pay the expenses of more than one law
firm (other than any required local counsel) as counsel for all indemnified parties pursuant to
this sentence. If, within 30 days after receipt of the notice, such indemnifying party has not
elected to assume the defense of the action, such indemnifying party will be responsible for any
legal or other expenses reasonably incurred by such indemnified party in connection with the
defense of the action, suit, investigation, inquiry or proceeding. An indemnifying party may, in
the defense of any such claim or litigation, consent to the entry of a judgment or enter into a
settlement without the consent of the indemnified party only if such judgment or settlement
contains a general release of the indemnified party in respect of such claim or litigation and
involves only the payment of monetary damages, which such indemnifying party is able to pay. No
indemnified party will consent to entry of any judgment or settle such claim or litigation without
the prior written consent of the indemnifying party (which consent shall not be unreasonably
withheld).

5.4. Contribution. If the indemnification provided for in Sections 5.1 or 5.2
is unavailable to a party that would have been an indemnified party under any such Section in
respect of any losses, claims, judgments, damages, liabilities, costs or expenses (or actions or
proceedings in respect thereof) referred to therein, then each party that would have been an
indemnifying party thereunder will, in lieu of indemnifying such indemnified party, contribute to
the amount paid or payable by such indemnified party as a result of such losses, claims, judgments,
damages, liabilities, costs or expenses (or actions or proceedings in respect thereof) in such
proportion as is appropriate to reflect the relative fault of such indemnifying party on the one
hand and such indemnified party on the other in connection with the statements or omissions which
resulted in such losses, claims, judgments, damages, liabilities, costs or expenses (or actions or
proceedings in respect thereof). The relative fault will be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by such indemnifying
party or such indemnified party and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The parties agree that it would
not be just and equitable if contribution pursuant to this Section 5.4 were determined by
pro rata allocation or by any other method of allocation that does not take account of the
equitable considerations referred to in the preceding sentence. The amount paid or payable by a
contributing party as a result of the losses, claims, judgments, damages, liabilities, costs or
expenses (or actions or proceedings in respect thereof) referred to in this Section 5.4
will include any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. Notwithstanding the
foregoing, the obligations of a Selling Holder hereunder will be limited to an amount equal to the
net proceeds for such Selling Holder from the disposition of Registrable Shares subject to the
applicable registration. No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation.

6. MISCELLANEOUS.

6.1. Rule 144 Requirements. With a view to making available to the Holders the
benefits of Rule 144 and any other rule or regulation of the Commission that may permit such Holder
to sell securities of the Company to the public without registration, the Company agrees to use,
for so long as any one or more of the following actions is necessary to allow any Holder to avail
itself of the benefits of Rule 144, reasonable best efforts to:

(a) make and keep public information available, as those terms are understood and defined in
Rule 144;

(b) file with the Commission in a timely manner all reports and other documents required of
the Company under the Securities Act and the Exchange Act; and

(c) so long as they own any Purchased Shares, furnish to any Holder upon request (i) a written
statement by the Company as to its compliance with the reporting requirements of Rule 144 and of
the Securities Act and the Exchange Act, (ii) a copy of the most recent annual or quarterly report
of the Company, and (iii) such other reports and documents of the Company as such holder may
reasonably request to avail itself of any similar rule or regulation of the Commission allowing it
to sell any such securities without registration.

6.2. Several Liability. The obligations of each Holder hereunder are several and not
joint.

6.3. Transfer of Rights. This Agreement, and the rights and obligations of the
Company hereunder, may not be assigned or delegated by the Company in whole or in part;
provided, however, the Company may assign this Agreement, and the rights and
obligations of the Company hereunder, to an Affiliate, but in no event shall the Company be able to
delegate any obligation hereunder to any Person other than a successor public company or public
partnership which trades on the New York Stock Exchange, the American Stock Exchange, the London
Stock Exchange or the Hong Kong Stock Exchange. This Agreement, and the rights and obligations of
each Holder hereunder, may be assigned by such Holder to any Person that acquires all or any
portion of the Registrable Shares owned by such Holder pursuant to the terms of this Agreement.
Any transferee to whom rights under this Agreement are transferred will as a condition of such
transfer, deliver to the Company a written agreement to become a party to this Agreement to the
same extent as if such transferee were such Holder.

6.4. Governing Law. This Agreement, the rights of the parties and all claims,
actions, causes of action, suits, litigation, controversies, hearings, charges, complaints or
proceedings arising in whole or in part under or in connection herewith, will be governed by and
construed in accordance with the domestic substantive laws of the State of New York, without giving
effect to any choice or conflict of law provision or rule that would cause the application of the
laws of any other jurisdiction.

6.5. Entire Agreement; Amendment and Waiver. This Agreement, together with any
documents, instruments and certificates explicitly referred to herein, constitutes the entire
agreement among the parties hereto with respect to the subject matter hereof and supersedes any and
all prior discussions, negotiations, proposals, undertakings, understandings and agreements,
whether written or oral, with respect thereto. Any term of this Agreement may be amended or
terminated and the observance of any term of this Agreement may be waived (either generally or in a
particular instance and either retroactively or prospectively) with the written consent of the
Company and the holders of at least a majority of the Registrable Shares at the applicable time.
Any such amendment, termination or waiver will be binding on all Holders.

6.6. Determination of Number or Percentage of Registrable Shares. Wherever reference
is made in this Agreement to a request or consent of holders of a certain number or percentage of
Registrable Shares, the determination of such number or percentage will include the number of
shares of Common Stock outstanding that are, and the maximum number of shares of Common Stock
issuable pursuant to then convertible or exercisable securities that upon issuance would be,
Registrable Shares.

6.7. Notices. All notices, requests, demands, claims and other communications
required or permitted to be delivered, given or otherwise provided under this Agreement must be in
writing and must be delivered, given or otherwise provided:

(a) by hand (in which case, it will be effective upon delivery);

(b) by facsimile (in which case, it will be effective upon receipt of confirmation of
good transmission); or

(c) by overnight delivery by a nationally recognized courier service (in which case, it
will be effective on the Business Day after being deposited with such courier service);

in each case, to the address (or facsimile number) listed below:

	 	 	If to the Company, to it at:

Live Nation, Inc.

9348 Civic Center Drive, 4th Floor

Beverly Hills, CA 90210

Facsimile Number: (310) 867-7054

Attention: Alan Ridgeway, Chief Financial Officer

	 	 	with a copy to:

Live Nation, Inc.

9348 Civic Center Drive, 4th Floor

Beverly Hills, CA 90210

Facsimile Number: (310) 867-7158

Attention: Michael Rowles, General Counsel

If to a Holder, to it at the registered address for its Registrable Shares shown in the records of
the Company (or of the Company’s registrar and transfer agent),

	 	 	with a copy to:

John H. Perkins

c/o Strategy Capital Barbados

128 Pine Road

Palm Court

Bellville, St. Michael, Barbados

Facsimile Number: (246) 429-5143

	 	 	and a copy to:

Kaye Scholer LLP

425 Park Avenue

New York, New York 10022

Facsimile number: (212) 836-8689

Attention: Emanuel Cherney, Esq.

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

6.8. Binding Effect; Assignment. This Agreement will be binding upon and inure to the
benefit of the personal representatives, successors and assigns of the respective parties hereto.

6.9. Severability. If any provision of this Agreement is found by any court of
competent jurisdiction to be invalid or unenforceable, the parties hereby waive such provision to
the extent that it is found to be invalid or unenforceable. Such provision will, to the maximum
extent allowable by law, be modified by such court so that it becomes enforceable, and, as
modified, will be enforced as any other provision hereof, all the other provisions hereof
continuing in full force and effect.

6.10. Specific Performance. The parties acknowledge and agree that any breach of the
terms of this Agreement would give rise to irreparable harm for which money damages would not be an
adequate remedy, and, accordingly, the parties agree that, in addition to any other remedies, each
will be entitled to enforce the terms of this Agreement by a decree of specific performance without
the necessity of proving the inadequacy of money damages as a remedy and without the necessity of
posting a bond.

6.11. Interpretation. All pronouns and any variations thereof refer to the masculine,
feminine or neuter, singular or plural, as the context may require. All terms defined in this
Agreement in their singular or plural forms have correlative meanings when used herein in their
plural or singular forms, respectively. Unless otherwise expressly provided, the words
“include”, “includes” and “including” do not limit the preceding words or
terms and shall be deemed to be followed by the words “without limitation”.

6.12. Captions and Headings. The captions and headings used in this Agreement are for
convenience purposes only and will not in any way affect the meaning or interpretation hereof.

6.13. Counterparts. This Agreement may be executed (manually or by facsimile or
similar electronic means) in any number of counterparts, each of which for all purposes shall be
deemed an original, but all of which together will constitute but one and the same instrument.

[Signatures Appear on the Following Page]

1

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

LIVE NATION, INC.

By: /s/ Michael Rowles

Name: Michael Rowles

Title: EVP, GC and Secretary

/s/ Michael Cohl

Michael Cohl

SAMCO INVESTMENTS LTD.

By: /s/ Christopher C. Morris

Name: Christopher C. Morris

Title: Director

2

Schedule I

NAMES OF HOLDERS; REGISTRABLE SHARES HELD

	 	 	 	 	 
	 
	 	Shares of Common Stock
	Holders
	 	of the Company
	 
	 	 	 	 
	Samco Investments Ltd.
	 	 	4,829,269	 
	 
	 	 	 	 
	Michael Cohl
	 	 	585,366	 
	 
	 	 	 	 

3EX-10.1

EXHIBIT 10.1

STOCK PURCHASE AGREEMENT

by and among

LIVE NATION WORLDWIDE, INC.,

as BUYER

LIVE NATION, INC.,

as BUYER PARENT

CONCERT PRODUCTIONS INTERNATIONAL INC.,

SAMCO INVESTMENTS LTD.,

MICHAEL COHL

AND CERTAIN OTHERS,

as SELLERS

and

CPI ENTERTAINMENT CONTENT (2005), INC.,

CPI ENTERTAINMENT CONTENT (2006), INC.,

GRAND ENTERTAINMENT (ROW), LLC,

CPI INTERNATIONAL TOURING INC. and

CPI TOURING (USA), INC.

as the COMPANIES

Dated as of September 12, 2007

1

TABLE OF CONTENTS

Page

1. Purchase and Sale.

	 	 	 
	1.1

1.2

1.3

1.4

1.5

1.6

	 	Purchase and Sale

Service Agreement

Termination of Securityholders Agreement

Termination of Credit Agreement

Release of Prior Lockup for Minority Sellers

Further Assurances

2. Closing; Consideration for Purchase.

	 	 	 
	2.1

2.2

2.3

	 	Closing Date

Consideration for Purchased Interests

Adjustment to Consideration for Purchased Interests

3. Representations and Warranties.

	 	 	 
	3.1

3.2

3.3

3.4

	 	Representations and Warranties of the Majority Sellers

Representations and Warranties of the Buyer Group

Representations and Warranties of the Sellers

Sellers Disclosure Schedules

4. Covenants.

	 	 	 
	4.1

4.2

4.3

4.4

	 	Further Actions

No Inconsistent Action

Public Announcements.

2007 Tax Allocations for Grand ROW

5. Additional Closing Actions.

5.1 Closing Deliveries

6. Covenants; Action Subsequent to Closing.

	 	 	 
	6.1

6.2

6.3

	 	Certain Restrictive Covenants.

NYSE Filing

Deferred Entertainment Investments

7. Indemnification.

	 	 	 
	7.1

7.2

7.3

7.4

7.5

7.6

	 	Indemnification by the Sellers and Cohl.

Indemnification by the Buyer Group

Indemnification Procedures

Time Limits on Liability; Indemnification Cap.

Right to Indemnification Not Affected By Knowledge or Materiality

Exclusive Remedy

8. Miscellaneous.

	 	 	 
	8.1

8.2

8.3

8.4

8.5

8.6

8.7

8.8

8.9

8.10

8.11

8.12

	 	Payment of Certain Fees and Expenses

Notices

Entire Agreement

Binding Effect; Benefit

Assignability

Amendment; Waiver

Section Headings

Severability

Counterparts

Applicable Law

Dispute Resolution

Jurisdiction/No Jury Trial

9. Definitions.

	 	 	 
	9.1

9.2

9.3

	 	Defined Terms

Certain Additional Defined Terms

References

2

LIST OF SCHEDULES AND EXHIBITS TO AGREEMENT

Schedules

	 	 	 	 	 
	Schedule 1.1

	 	-
	 	Number of Purchased Interests to be Sold by each Seller
	Schedule 2.2

	 	-
	 	Allocation of Transaction Shares among the Sellers
	Schedule 2.3

	 	-
	 	Allocation of Adjustment to Consideration among the

Sellers
	Schedule 2.3(b)

	 	-
	 	Worksheet for Calculation of Permitted Dividends for 2006
	Schedule 3.1(a)

	 	-
	 	CPI Companies and Subsidiaries; Jurisdictions
	Schedule 3.1(b)(ii)

	 	-
	 	Capital Structure; Ownership; Subsidiaries; Capital

Contributions
	Schedule 3.1(b)(iii)

	 	-
	 	Entertainment Investments
	Schedule 3.1(b)(iv)

	 	-
	 	Equity Interests
	Schedule 3.1(c)

	 	-
	 	Consents and Approvals
	Schedule 3.1(d)(i)

	 	-
	 	Disclosed Liabilities
	Schedule 3.1(d)(ii)

	 	-
	 	Debt
	Schedule 3.1(d)(iii)

	 	-
	 	Dividends
	Schedule 3.1(e)

	 	-
	 	Assets; Encumbrances
	Schedule 3.1(f)(i)

	 	-
	 	Material Contracts
	Schedule 3.1(f)(ii)

	 	-
	 	Real Estate; Real Estate Leases
	Schedule 3.1(f)(iii)

	 	-
	 	CPI Permits
	Schedule 3.1(f)(iv)

	 	-
	 	Enforceability; No Breach
	Schedule 3.1(g)

	 	-
	 	Legal Proceedings
	Schedule 3.1(h)(i)

	 	-
	 	Insurance Policies
	Schedule 3.1(h)(ii)

	 	-
	 	Insurance Claims
	Schedule 3.1(i)

	 	-
	 	Intellectual Property
	Schedule 3.1(j)

	 	-
	 	Conduct of Business
	Schedule 3.1(l)

	 	-
	 	Environmental Matters
	Schedule 3.1(m)

	 	-
	 	Taxes
	Schedule 3.1(n)

	 	-
	 	Employees
	Schedule 3.1(p)

	 	-
	 	Transactions with Affiliates
	Schedule 3.1(q)

	 	-
	 	Business Relationships

3

Exhibits

Exhibit A – List of Minority Sellers

Exhibit B – Cohl Services Agreement

Exhibit C – Lockup and Registration Rights Agreement

Exhibit D-1 –Share Legend for Minority Seller Shares

Exhibit D-2 –Share Legend for Trust Shares

Exhibit E – Cohl’s Acknowledgments Regarding Future Operations

Exhibit F – Releases

4

STOCK PURCHASE AGREEMENT

This Stock Purchase Agreement (this “Agreement”) is made and entered into as of September 12,
2007 by and among (i) LIVE NATION WORLDWIDE, INC., a Delaware corporation (“Buyer”) and LIVE
NATION, INC., a Delaware corporation (“Buyer Parent” and together with Buyer, the “Buyer Group”),
(ii) SAMCO INVESTMENTS LTD., a Turks and Caicos company (“Samco”), (iii) MICHAEL COHL (“Cohl”, and
together with Samco, the “Majority Sellers”), (iii) CONCERT PRODUCTIONS INTERNATIONAL INC., a
Barbados IBC corporation (the “Grand Seller”), (iv) the other sellers identified on
Exhibit A (such sellers identified on Exhibit A, together with the Grand Seller, the
“Minority Sellers”; and the Minority Sellers and the Majority Sellers being sometimes herein
collectively called the “Sellers”), (v) CPI ENTERTAINMENT CONTENT (2005), INC., a Delaware
corporation (“Content 2005”), CPI ENTERTAINMENT CONTENT (2006), INC., a Delaware corporation
(“Content 2006”) and GRAND ENTERTAINMENT (ROW), LLC, a Delaware limited liability company (“Grand
ROW”, and together with Content 2005 and Content 2006, “Grand”), (vi) CPI INTERNATIONAL TOURING
INC., a Barbados IBC corporation (“ROW Tour”), and CPI TOURING (USA), INC., a Delaware corporation
(“USA Tour”, and together with ROW Tour, “Tour”) (Grand together with Tour, the “Companies”).
Buyer, the Sellers, and the Companies are hereinafter referred to collectively as the “Parties”.

RECITALS:

1. Buyer currently owns (i) 50.1% of the issued and outstanding shares of capital stock in USA
Tour and ROW Tour, (ii) 50.0% of the issued and outstanding capital stock in Content 2005 and
Content 2006 and (iii) 50.0% of the issued and outstanding membership interests in Grand ROW (all
of the foregoing equity interests owned by Buyer being herein collectively referred to as the
“Existing Live Nation Equity Interests”).

2. Other than the Existing Live Nation Equity Interests, all of the issued and outstanding
equity interests in the Companies are owned by the Sellers.

3. The Companies conduct their business operations directly and through various Subsidiaries.
Those Subsidiaries and the Companies are herein collectively referred to as the “CPI Companies”.

4. The Sellers desire to sell to Buyer and Buyer desires to acquire from the Sellers, all of
the issued and outstanding equity interests in the Companies other than the Existing Live Nation
Equity Interests in consideration for the payment by Buyer of the consideration provided herein,
all upon the terms and conditions hereafter set forth.

5. Buyer Parent controls Buyer through one or more subsidiaries. Buyer Parent joins in the
execution of this Agreement for the purpose of making certain representations and warranties to,
and agreements and covenants with, the Sellers, including its agreement to issue certain shares of
its capital stock as consideration for this transaction.

6. The Companies join in the execution of this Agreement for the purpose of evidencing consent
to consummation of the foregoing transactions and for the purpose of making certain covenants and
agreements with the Buyer Group.

7. Cohl is a director and/or senior executive officer of each of the Companies and owns (i) a
direct controlling interest in the Grand Seller and (iii) the interest in Tour described in
Schedule 1.1. Cohl joins in the execution of this Agreement for the purpose of evidencing
his consent to the consummation of the foregoing transactions and for the purpose of making certain
representations and warranties to, and covenants and agreements with, the Buyer Group.

AGREEMENT

In consideration of the premises and of the respective representations, warranties, covenants,
agreements and conditions of the Parties contained herein, it is hereby agreed as follows:

1. Purchase and Sale.

1.1 Purchase and Sale. Subject to the terms and conditions of this Agreement and as
detailed below, at the Closing, the Sellers shall sell and deliver to Buyer and Buyer shall
purchase from the Sellers the following shares of stock and other equity interests (the “Purchased
Interests”) free and clear of all Encumbrances (except pursuant to this Agreement and those arising
by virtue of any action taken by or on behalf of Buyer or its Affiliates and restrictions on
transfers that may be imposed by Applicable Laws):

(a) Samco, Cohl and the Minority Sellers shall sell and deliver to Buyer 49,900 shares
of the common stock, no par value of ROW Tour, which represents 49.9% of all of the issued
and outstanding capital stock of ROW Tour;

(b) Samco, Cohl and the Minority Sellers shall sell and deliver to Buyer 49,900 shares
of the common stock, par value $0.01 of USA Tour, which represents 49.9% of all of the
issued and outstanding capital stock of USA Tour;

(c) The Grand Seller shall sell and deliver to Buyer 500 shares of the common stock,
par value $0.01 of Content 2005, which represents 50.0% of all of the issued and
outstanding capital stock of Content 2005;

(d) The Grand Seller shall sell and deliver to Buyer 500 shares of the common stock,
par value $0.01 of Content 2006, which represents 50.0% of all of the issued and
outstanding capital stock of Content 2006; and

(e) The Grand Seller shall sell and deliver to Buyer 500 units of membership
interests, which represents 50.0% of all of the issued and outstanding units of membership
interests of Grand ROW.

At the Closing, each Seller shall deliver to Buyer certificates evidencing the number of shares of
stock and units of membership interests included within the Purchased Interests listed next to such
Seller’s name on Schedule 1.1, duly endorsed for transfer or accompanied by duly executed
stock powers in a form acceptable to Buyer.

1.2 Service Agreement. Subject to the terms and conditions of this Agreement, at the
Closing, (i) Cohl will cause KSC Consulting (Barbados) Inc. (“KSC”) to execute and enter into a
Services Agreement with Buyer and all of the Companies in the form of Exhibit B attached
hereto (the “Cohl Services Agreement”) whereby KSC will agree to provide the services of Cohl to
the Companies and the Buyer Group and (ii) Cohl will join in the execution of the Cohl Services
Agreement. The Cohl Services Agreement, by its own terms, will replace and supersede in all
respects that certain Services Agreement dated May 26, 2006 by and among Cohl, KSC and the
Companies. Buyer and Cohl recognize and agree that this Agreement serves as partial consideration
for the Cohl Services Agreement and that the Buyer would not have entered into this Agreement but
for execution of the Cohl Services Agreement and the terms provided for therein.

1.3 Termination of Securityholders Agreement. The Companies, the Sellers and Buyer
mutually agree that the Securityholders Agreement dated May 26, 2006 and entered into by and among
such parties is hereby terminated as of the Closing Date.

1.4 Termination of Credit Agreement. The Buyer and the Companies mutually agree that
the Credit Agreement dated May 26, 2006 and entered into by and among the Buyer, as lender, and the
Companies, as borrowers is hereby terminated as of the Closing Date.

1.5 Release of Prior Lockup for Minority Sellers. Buyer Parent, on the one hand, and
the Minority Sellers, on the other hand, mutually release one another from the following
obligations to one another under the Prior Lockup Agreement:

(a) Buyer Parent (i) agrees that the 195,467 shares of LN Common Stock (the “Released
Shares”) issued to the Minority Sellers (including the shares originally issued to CPI
Entertainment Rights Inc., the predecessor by amalgamation to the Grand Seller) pursuant to
the Prior Purchase Agreement are hereby released from the transfer restrictions set forth in
Section 4.3 of the Prior Lockup Agreement and (ii) shall cause new certificates to be issued
to the Minority Sellers in exchange for the existing certificates evidencing the Released
Shares, that do not include a legend referencing the restrictions on transfer contained in
Section 4.3 of the Prior Lockup Agreement but which will continue to contain a legend
substantially similar to the legend attached hereto as Exhibit D-1.

(b) The Minority Sellers each hereby release Buyer Parent from all of its obligations
under Section 2.1 of the Prior Lockup Agreement concerning the right to require the
inclusion of the Released Shares in certain registration statements filed under the
Securities Act of 1933, as amended.

All other shares of LN Common Stock issued pursuant to the Prior Purchase Agreement will remain
subject to, and benefited by, the terms of the Prior Lockup Agreement in accordance with the terms
thereof.

1.6 Further Assurances. From time to time after the Closing, the Sellers will execute
and deliver, or cause to be executed and delivered, without further consideration, such instruments
of conveyance, assignment, transfer and delivery, or take such other actions as Buyer may
reasonably request in order to more effectively transfer, convey and assign and deliver to
(i) Buyer, and to place Buyer in possession and control of, any of the Purchased Interests or to
enable Buyer to exercise and enjoy all rights and benefits of the Sellers with respect thereto, and
(ii) the Companies, any assets, interests or rights relating to the Business which are not
currently held by the CPI Companies.

2. Closing; Consideration for Purchase.

2.1 Closing Date. The closing of the transactions provided for in this Agreement (the
“Closing”) shall take place at the offices of Grand, 501 Brickell Key, Miami, Florida at 10:00 a.m.
Eastern Time, on the date hereof (the “Closing Date”).

2.2 Consideration for Purchased Interests. As consideration for the Purchased
Interests, the Buyer Parent shall issue 6,097,561 shares of LN Common Stock (the “Transaction
Shares”). The Transaction Shares shall be duly authorized, validly issued, fully paid and
non-assessable, and free and clear of all Encumbrances (except for Encumbrances created pursuant to
the Trust Agreement or the Lockup Agreement and those Encumbrances arising by virtue of any action
taken by or on behalf of the Sellers or their Affiliates and restrictions on transfers that may be
imposed by Applicable Laws). Schedule 2.2 attached hereto sets forth the allocation of the
Transaction Shares between and among the Sellers. The Sellers acknowledge and agree that the
allocation of the Transaction Shares among the Sellers as set forth on Schedule 2.2 is the
sole responsibility of the Sellers, and the Buyer Group and the Companies shall have no obligation
or responsibility with respect to such allocation. The Parties further agree not to assert, in
connection with any tax return, tax audit or similar proceeding, any allocation that differs from
that set forth on Schedule 2.2. At the Closing, the Transaction Shares shall be issued as
follows:

(a) The number of Transaction Shares allocated to each of the Minority Sellers on
Schedule 2.2 shall be issued to each such Minority Seller at the Closing. The
Transaction Shares issued at the Closing to the Minority Sellers shall be herein referred
to as the “Minority Seller Shares”. The certificates evidencing the Minority Seller Shares
will include a legend in substantially the form of Exhibit D-1 hereto.

(b) All of the Transaction Shares that are allocated to the Majority Sellers as set
forth on Schedule 2.2 shall be issued to Wells Fargo Bank, National Association
(the “Trustee”) to be held on, subject to and in accordance with the terms of that certain
Trust Agreement (the “Trust Agreement”) executed of even date herewith by Buyer Parent, as
trustor, and Trustee, as trustee. The Transaction Shares issued to the Trustee at the
Closing shall be herein referred to as the “Trust Shares”. The certificates evidencing the
Trust Shares will include a legend in substantially the form of Exhibit D-2 hereto.
As more fully described in the Trust Agreement, the Trustee will issue, at the Closing,
Trust Certificates (“Trust Certificates”) to each of the Majority Sellers evidencing each
such Majority Seller’s beneficial interests under the Trust Agreement with respect to the
number of Transaction Shares allocated to each such Majority Seller on Schedule 2.2
hereto.

2.3 Adjustment to Consideration for Purchased Interests.

(a) At the Closing, the Buyer will pay to the Sellers the aggregate sum of $9,974,342,
as an adjustment to the consideration specified in Section 2.2. The Sellers expressly
authorize Buyer to pay this cash adjustment by wire transfer to a single account designated
by the Majority Sellers. Following payment by Buyer of such amount, the Majority Sellers
shall then be exclusively obligated to allocate such payment among the Sellers as set forth
on Schedule 2.3, after deduction for and payment of attorneys’ fees and other
transaction costs incurred on behalf of the Sellers in connection with this transaction.
The Sellers acknowledge and agree that the allocation and payment of such cash adjustment
among the Sellers as set forth on Schedule 2.3 is the sole responsibility of the
Majority Sellers, and the Buyer Group and the Companies shall have no obligation or
responsibility with respect to such allocation or payment among the Sellers.

(b) $9,300,000 of the cash adjustment payment payable by Buyer to Seller pursuant to
Section 2.3(a) represents the amount of the Permitted Dividends that are payable to the
Sellers with respect to calendar year 2006. If, at any time within four (4) years
following the Closing, the Buyer or the Majority Sellers believe that the calculation of
the amount of the Permitted Dividends that are payable to the Sellers with respect to
calendar year 2006 should be modified as a result of any errors in, or subsequent changes
that affect, any of the underlying assumptions or financial amounts included in or
otherwise affecting the original calculation of the amount of the Permitted Dividends, then
such party (the “Contesting Party”) shall deliver to the Buyer or the Majority
Sellers, as the case may be (the “Non-Contesting Party”), a written notice (a
“Permitted Dividends Statement”) setting forth in reasonable detail a good faith
estimate of the amount of Permitted Dividends that are payable to the Sellers with respect
to calendar year 2006. Any such modified amount shall be calculated in a manner consistent
with the calculation of the amount of Permitted Dividends that are payable to the Sellers
with respect to calendar year 2006 in the worksheet attached hereto as
Schedule 2.3(b).

(c) Within thirty (30) days following receipt by the Non-Contesting Party of a
Permitted Dividends Statement, such Non-Contesting Party may deliver written notice (the
“Notice of Disagreement”) to the Contesting Party of any dispute such party has
with respect to the preparation or content of the Permitted Dividends Statement. The
Notice of Disagreement shall describe in reasonable detail the items contained in the
Permitted Dividends Statement that the Non-Contesting Party disputes and the basis for any
such disputes. If the Non-Contesting Party does not notify the Contesting Party of a
dispute with respect to the Permitted Dividends Statement within such thirty (30) day
period or delivers a notice agreeing with the Permitted Dividends Statement, such Permitted
Dividends Statement will be final, conclusive and binding on the parties. If the
Non-Contesting Party delivers a Notice of Disagreement to the Contesting Party, the
Contesting Party and the Non-Contesting Party shall negotiate in good faith to resolve such
dispute. If the Contesting Party and the Non-Contesting Party, notwithstanding such good
faith effort, fail to resolve such dispute within thirty (30) days after the Non-Contesting
Party advises the Contesting Party of its objections, then such dispute shall be resolved
in accordance with the terms of clause (f) below.

(d) For purposes of complying with the terms set forth in this Section 2.3, the
Contesting Party and the Non-Contesting Party shall cooperate with each other and make
available to each other and their respective representatives all information, records, data
and working papers, and shall permit reasonable access to its personnel, as may be
reasonably requested in connection with the preparation and analysis of any Permitted
Dividends Statement and the resolution of any disputes thereunder.

(e) If the final determination of the amount of Permitted Dividends payable to the
Sellers with respect to calendar year 2006, as calculated in accordance with this
Section 2.3, should be—

(i) less than $9,300,000, then the Majority Sellers will be obligated, jointly
and severally, to pay to the Buyer the amount of such difference (and each other
Seller will be obligated to reimburse to the Majority Seller their respective share
of such difference); or

(ii) more than $9,300,000, then the Buyer will be required to pay to the
Majority Sellers the amount of such excess (and the Majority Sellers will be
obligated to pay to the other Sellers their respective share of such excess).

(f) If there should ever be a dispute between the Majority Sellers, on the one hand,
and the Buyer, on the other hand (the “Dividend Disputing Parties”), regarding the
calculation of the amount of the Permitted Dividends that are payable to the Sellers with
respect to calendar year 2006, then the Dividend Disputing Parties will refer such dispute
to Grant Thornton LLP (the “Arbitrating Accountant”), who shall be engaged as
arbitrator hereunder to settle such dispute as soon as practicable. In connection with the
resolution of any such dispute, the Arbitrating Accountant shall have access to all
documents, records, work papers, facilities and personnel necessary to perform its function
as arbitrator. The Arbitrating Accountant’s function shall be to review only those items
which are in dispute and to resolve the dispute with respect to such items. The
Arbitrating Accountant’s award with respect to any such dispute shall be final and binding
upon the parties hereto, and judgment may be entered on the award. The Arbitrating
Accountant’s fees shall be paid 50% by the Majority Sellers and 50% by the Buyer, unless
the Arbitrating Accountant should determine that one of the Dividend Disputing Parties’
position was not reasonably taken, in which case all of the Arbitrating Accountant’s fees
shall be paid by that Dividend Disputing Party.

(g) If this Section 2.3 shall be invoked more than once with respect to a calculation
of the amount of Permitted Dividends payable to the Sellers with respect to calendar year
2006, then the amounts paid by the Sellers, on the one hand, and the Buyer, on the other,
in connection with previous applications of this Section 2.3 shall be reflected in the
calculation of any amounts payable pursuant to clause (e) above.

3. Representations and Warranties of the Majority Sellers. Each of the Majority Sellers,
jointly and severally, represents and warrants to the Buyer Group as of the date hereof, as
follows:

(a) Due Organization; Good Standing and Power. Each CPI Company is a
corporation or limited liability company duly organized, validly existing and, if
applicable, in good standing under the laws of the jurisdiction of its organization.
Schedule 3.1(a) sets forth each CPI Company, its ownership and its jurisdiction of
organization. Each CPI Company has the corporate power and authority to own, lease and
operate its assets and to conduct its business as presently being conducted. No CPI
Company is qualified to conduct business in any foreign jurisdiction and no actions or
proceedings to dissolve any of the CPI Companies are pending.

(b) Validity of Agreement; Capitalization.

(i) Each Seller has the full power and authority to enter into this Agreement
and the other agreements contemplated by this Agreement (the “Ancillary Agreements”)
to which it is a party and to consummate the transactions contemplated hereby and
thereby. This Agreement has been duly executed and delivered by the Sellers and the
Companies and this Agreement constitutes, and the Ancillary Agreements to which a
Seller or a Company is a party, when executed and delivered by such Party, will
constitute a legal, valid and binding obligation of such Party, enforceable against
it in accordance with its terms, except as the same may be limited by bankruptcy,
insolvency or other similar laws affecting creditors’ rights generally and by
general equity principles. The execution, delivery and performance of this
Agreement and the Ancillary Agreements to which it is a party by each Corporate
Seller and Company has been duly authorized by all requisite corporate action on its
part. The Sellers have made available to the Buyer true and complete copies of the
minute books and stock transfer books or other similar books and records for each
Company, each of which is accurate and complete in all material respects.

(ii) The authorized capital of and the number of issued and outstanding shares
or other equity interests of each Company is as set forth on
Schedule 3.1(b)(ii). Other than the Existing Live Nation Equity Interests,
the record and beneficial ownership of the issued and outstanding shares or other
equity interests of each Company is as set forth on Schedule 3.1(b)(ii), and
the Sellers are the record and beneficial owner of all such shares or other equity
interests as indicated on Schedule 3.1(b)(ii). Except for Entertainment
Investments, Schedule 3.1(b)(ii) sets forth each Subsidiary or other Persons
in which any Company (directly or indirectly) has an equity or other ownership
interest, such Company’s ownership percentage in each such Subsidiary or other
Person and the ownership interest and percentage of any other Person in any
Subsidiary. All of the issued and outstanding shares of each CPI Company that is a
corporation, or interests of each CPI Company that is a limited liability company,
have been duly authorized and validly issued, are fully paid and nonassessable, have
not been issued in violation of any preemptive or similar rights, and have been
issued in compliance in all material respects with all Applicable Laws. Each CPI
Company has paid all required capital contributions to the extent due and payable
with respect to any partnership or limited liability company which any CPI Company
is a member or partner. Grand ROW is a manager managed limited liability company
and is taxed as a partnership for purposes of federal income taxes.
Schedule 3.1(b)(ii) sets forth the current officers, directors or managers
of each Company, and, to the Knowledge of the Majority Sellers, for each other CPI
Company.

(iii) Schedule 3.1(b)(iii) sets forth each investment (collectively,
the “Entertainment Investments”) related to concert promotions, theatrical
productions, documentaries or other entertainment events (collectively, the
“Entertainment Events”) owned by any CPI Company, lists the CPI Company owning such
investment or rights agreement or other asset and the percentage owned of any such
Entertainment Event, the name of the entity that owns the underlying Entertainment
Event, and if such entity is not wholly owned by the CPI Companies, the name of such
entity’s general partner or manager, as applicable, and all material agreements
relating thereto or in connection therewith (the “Entertainment Agreements”).
Except for the Entertainment Investments, none of (a) the Majority Sellers, (b) the
Affiliates of any Majority Seller and (c) the CPI Companies (directly or indirectly)
have (i) an equity or other ownership interest in any Entertainment Event or
(ii) any obligation or other commitment to purchase, acquire or invest in any
Entertainment Event. The Sellers have previously furnished Buyer with complete and
accurate copies of all written Entertainment Agreements and a written description of
all oral Entertainment Agreements.

(iv) Except as set forth on Schedule 3.1(b)(iv), there are outstanding
(1) no shares of capital stock, other voting securities or other equity interests
(“Equity Interests”) of the CPI Companies, (2) no securities of the CPI Companies
convertible into or exchangeable for Equity Interests of the CPI Companies, (3) no
options, warrants or other rights to acquire from the CPI Companies, and no
obligation of the CPI Companies to issue or sell, any Equity Interests or any
securities of the CPI Companies convertible into or exchangeable for Equity
Interests, and (4) no equity equivalents, interests in the ownership or earnings, or
other similar rights of the CPI Companies. There are no outstanding obligations of
the CPI Companies to repurchase, redeem or otherwise acquire any Equity Interests
except the Deferred Entertainment Investments pursuant to the terms of this
Agreement. The Sellers are the record and beneficial owner of, and upon
consummation of the transactions contemplated hereby Buyer will acquire, good, valid
and marketable title to, all of the Purchased Interests, free and clear of all
Encumbrances, other than (x) those that may arise by virtue of any actions taken by
or on behalf of Buyer or its Affiliates, (y) restrictions on transfer that may be
imposed by Applicable Laws, and (z) those arising under the terms of this Agreement.
Cohl owns a controlling interest in the Grand Seller. The Grand Seller is the
successor by amalgamation to CPI Entertainment Rights Inc., a Barbados corporation.

(v) The CPI Companies are the record and beneficial owner of, and own good,
valid and marketable title to, all of the equity interests in each Subsidiary and
other Person that are indicated on Schedule 3.1(b)(ii) as being owned
(directly or indirectly) by the Companies, free and clear of all Encumbrances, other
than (x) those that may arise by virtue of any actions taken by or on behalf of
Buyer or its Affiliates, (y) restrictions on transfer that may be imposed by
Applicable Laws, and (z) those arising under the terms of this Agreement.

(c) No Approvals or Notices Required; No Conflict with Instruments. Except as
set forth on Schedule 3.1(c), the execution, delivery and performance of this
Agreement by the Sellers, Cohl and the Companies and the consummation by them of the
transactions contemplated hereby (i) does not violate (with or without the giving of notice
or the lapse of time or both) or require any consent, approval, filing or notice under,
(ii) does not result in the creation of any Encumbrance (except pursuant to this Agreement
and those arising by virtue of any action taken by or on behalf of Buyer or its Affiliates
and restrictions on transfers that may be imposed by Applicable Laws) on the Purchased
Interests or any Equity Interests of any CPI Company under, conflict with, or result in the
breach or termination of any provision of, or constitute a default under, or result in the
acceleration of the performance of the obligations of the Sellers or the CPI Companies
under, or (iii) result in the creation of an Encumbrance upon any asset of the CPI
Companies pursuant to: (A) Applicable Law, (B) any Permit (including liquor licenses), (C)
the charters or bylaws of the CPI Companies, or (D) any instrument or other agreement to
which the Sellers or the Companies are a party or by which any of them or any of their
assets are bound or affected. The Purchased Interests are transferable and assignable to
Buyer as contemplated by this Agreement without the waiver of any right of first refusal or
the consent of any other party being obtained, and there exists no preferential right of
purchase in favor of any Person with respect of any of the Purchased Interests or the
Business other than as disclosed on Schedule 3.1(b)(iii).

(d) Financial Information.

(i) The CPI Companies do not have any liability or obligation, whether accrued,
absolute, contingent, or otherwise, other than (1) those arising under Entertainment
Agreements, the Material Contracts listed on Schedule 3.1(f)(i), and Minor
Contracts not required to be listed on Schedule 3.1(f)(i) pursuant to
Section 3.1(f), and this Agreement and the Ancillary Agreements, (2) those arising
in the ordinary course of business to trade creditors or service providers, none of
which liabilities individually exceed $50,000, and (3) those identified on
Schedule 3.1(d)(i) or Schedule 3.1(d)(ii) (collectively, the
“Disclosed Liabilities”). Schedule 3.1(d) further identifies all accruals
or reserves maintained on the books of the CPI Companies and all accruals and
reserves are adequate to cover the liabilities associated therewith and have been
established in accordance with GAAP and good business practices.

(ii) Except as set forth on Schedule 3.1(d)(ii), the CPI Companies have
no “Debt”. As used herein, the term Debt means, without duplication, (1) all
indebtedness of the CPI Companies for borrowed money, (2) all obligations of the CPI
Companies evidenced by bonds, notes, letters of credit, debentures or other similar
arrangements, (3) all obligations of the CPI Companies as lessees under leases that
have been or should be, in accordance with GAAP, recorded as capital leases, (4) all
guarantees by the CPI Companies of the debts or obligations of any other Person and
(5) all debt, whether or not of the type described in clauses (1) through (3) above
to the extent secured by a lien on the property of the CPI Companies.

(iii) Except as set forth on Schedule 3.1(d)(iii), since their
formation, the CPI Companies have not (1) declared or paid any dividend or made any
other distribution to their owners, (2) made or authorized any capital expenditures
which individually or in the aggregate would exceed $50,000.00 other than capital
expenditures required by Entertainment Agreements or the Material Contracts
disclosed on Schedule 3.1(f), or (3) entered into any agreement, commitment
or understanding, whether or not in writing, with respect to any of the foregoing.

(iv) None of the profits or earnings that have been or will be derived from the
promotion of the 2005-2007 Rolling Stones Tour have or shall inure to or for the
benefit of any of the Sellers or any Affiliate of one or more of the Sellers other
than (i) the CPI Companies and (ii) earnings in an amount not to exceed US $100,000
which will inure to the benefit of the Grand Seller.

(e) Title to Properties; Absence of Liens and Encumbrances. All of the
material assets of the Companies other than the Entertainment Investments are set forth on
Schedule 3.1(e). Each CPI Company owns good and valid title to all of its assets,
free and clear of all Encumbrances, other than the Encumbrances set forth on
Schedule 3.1(e) and other than Permitted Encumbrances.

(f) Properties, Contracts, Permits and Other Data.

(i) Schedule 3.1(f)(i) sets forth all agreements, instruments or other
contracts pertaining to the Business to which the CPI Companies or an Affiliate of
the CPI Companies is a party, the benefits of which are enjoyed by the Business or
to which any of the material assets of the CPI Companies is subject other than
contracts which (1) are Entertainment Agreements or (2) were entered into in the
ordinary course of business and do not restrict the ability of the CPI Companies to
conduct the Business in any jurisdiction or in any manner, and do not involve the
receipt or payment of more than $50,000 individually (the contracts, agreements or
instruments required to be so listed together with the Entertainment Agreements are
herein defined as “Material Contracts” and the contracts, agreements or instruments
not required to be so listed are herein defined as the “Minor Contracts”).

(ii) The CPI Companies do not own and never have owned any real property.
Schedule 3.1(f)(ii) sets forth the real estate currently leased or held for
use by the CPI Companies other than arrangements for use of entertainment venues for
presentation of any one or more performances of an Entertainment Event (the “Real
Estate”). Schedule 3.1(f)(ii) also sets forth each lease, license or other
occupancy agreement relating to any of the Real Estate (“Real Estate Leases”). The
CPI Companies are not a party or otherwise committed to become a party to any Real
Estate Lease except as set forth on Schedule 3.1(f)(ii), whether as a
lessee, sublessee, lessor, sublessor, licensor, licensee, sublicensor or sublicensee
or otherwise; and

(iii) Schedule 3.1(f)(iii) sets forth the material Permits maintained
by any CPI Company relating to the development, use, maintenance or occupation of
the CPI Companies’ properties, Real Estate, or the operation of the Business (other
than sales and use tax Permits and franchise tax registrations) (the “CPI Permits”).

(iv) Except as set forth on Schedule 3.1(f)(iv), the Material
Contracts, Minor Contracts, Real Estate Leases and CPI Permits are in full force and
effect and are valid and enforceable in accordance with their respective terms,
except where the failure to be in full force and effect and valid and enforceable
would not individually or in the aggregate have a Material Adverse Effect. Except
as set forth on Schedule 3.1(f)(iv), the CPI Companies and their Affiliates
are not in material breach or default in the performance of any obligation under any
Material Contract, Minor Contract, Real Estate Lease or CPI Permit and, to the
Knowledge of the Majority Sellers, no other party thereto is in such a breach or
default and no event has occurred or has failed to occur whereby any of the other
parties thereto have been or will be released therefrom or will be entitled to
refuse to perform thereunder. Except as set forth on Schedule 3.1(f)(iv),
the CPI Companies have all material Permits required for the conduct of the Business
as presently conducted. Except as set forth on Schedule 3.1(f)(iv), there
are no outstanding powers of attorney relating to or affecting the CPI Companies.

(g) Legal Proceedings. Except as set forth on Schedule 3.1(g), (i)
there is no litigation, proceeding, claim or governmental investigation pending (but with
respect to any concert tour managed by Buyer Group or their Affiliates, this representation
is limited to the actual Knowledge of the Majority Sellers) or, to the Knowledge of the
Majority Sellers, threatened, that seeks relief or damages against the CPI Companies or any
of the respective assets or the Business or which would prevent the consummation of the
transactions contemplated by this Agreement and (ii) none of the Sellers or the CPI
Companies has been charged with any violation of or, to the Knowledge of the Majority
Sellers, threatened with a charge or violation of, any provision of Applicable Laws (for
purposes of this clause (ii), with respect to the Sellers, the scope of the representations
shall be limited to charges or violations of Applicable Laws relating to the CPI Companies
or the Business). To the Knowledge of the Majority Sellers, none of the CPI Companies, or
their Affiliates, or any director, officer, employee or agent of any of them has, directly
or indirectly, paid or delivered any fee, commission or other sum of money or item of
property to any broker, finder, agent, governmental official or other Person, in any matter
related to the Business of the CPI Companies, which would be illegal under Applicable Laws.

(h) Insurance.

(i) Schedule 3.1(h)(i) sets forth the insurance policies relating to
the insurable properties of the CPI Companies and the conduct of the Business other
than those arranged for by the Buyer Group or their Affiliates. All premiums due
and arising thereon have been paid on a current basis and such policies are in full
force and effect.

(ii) Schedule 3.1(h)(ii) sets forth all pending or outstanding
insurance claims of the CPI Companies against the CPI Companies’ insurance
companies.

(i) Intellectual Property. Schedule 3.1(i) sets forth the CPI
Companies’ right, title or interest in or to any material Intellectual Property (the “CPI
Intellectual Property”). Except as set forth on Schedule 3.1(i), (i) the CPI
Companies own and/or validly license all of the Intellectual Property necessary for the
conduct of the Business as presently conducted; (ii) to the Knowledge of the Majority
Sellers, there is no reasonable basis for the assertion by any Person of any claim against
Buyer or the CPI Companies with respect to the use by the CPI Companies of the CPI
Intellectual Property; (iii) to the Knowledge of the Majority Sellers, the CPI Companies
are not infringing or violating and have not infringed or violated, any rights of any
Person with respect to the CPI Intellectual Property described in clause (i); (iv) to the
Knowledge of the Majority Sellers, no other Person is infringing or violating, or has
infringed or violated, any rights of the CPI Companies with respect to the CPI Intellectual
Property; and (v) the CPI Intellectual Property is not subject to any order, injunction or
agreement respecting its use.

(j) Conduct of Business in Compliance with Applicable Laws. Except as set
forth on Schedule 3.1(j), each of the CPI Companies has conducted the Business in
compliance with all Applicable Laws, except as would not, individually or in the aggregate,
have a Material Adverse Effect.

(k) Certain Fees. None of the Companies or their respective officers,
directors or employees, nor the Sellers, on behalf of the Companies or themselves, have
employed any broker or finder or incurred any other liability for any brokerage fees,
commissions or finders’ fees in connection with the transactions contemplated hereby.

(l) Environmental, Health and Safety Compliance. Except as set forth on
Schedule 3.1(l):

(i) to the Knowledge of the Majority Sellers, each of the CPI Companies is, and
has continuously been, in compliance in all material respects with all applicable
Environmental Laws; and

(ii) neither Cohl nor any of the CPI Companies has received any written notice
or claim that any of the CPI Companies is or may be liable to any Person as a result
of any Hazardous Substances generated, treated or stored at any real estate at any
time leased by the CPI Companies or discharged, emitted, released or transported
from any real estate at any time leased by the CPI Companies in the conduct of the
Business.

(m) Taxes. Except as set forth on Schedule 3.1(m), for the past six
years, the Companies have caused to be timely filed with appropriate federal, state, local,
foreign, provincial and other Governmental Entities all Tax Returns required to be filed
with respect to the CPI Companies or the conduct of the Business and have paid, caused to
be paid, or adequately reserved for on the books of the CPI Companies all Taxes claimed to
be due from or with respect to such Tax Returns or which are or will become payable with
respect to all periods prior to Closing. Except as set forth on Schedule 3.1(m),
no extension of time has been requested or granted with respect to the filing of any Tax
Return or payment of any Taxes, and no issue has been raised or adjustment proposed by any
taxing authority in connection with any of the CPI Companies’ Tax Returns, and there are no
outstanding agreements or waivers that extend any statutory period of limitations
applicable to any federal, state, local, foreign, or provincial Tax Returns that include or
reflect the use and operation of the CPI Companies, or the conduct of the Business. Except
as set forth on Schedule 3.1(m), none of the Majority Sellers or any of the CPI
Companies have received or have knowledge of any notice of deficiency, assessment, audit,
investigation, or proposed deficiency, assessment or audit with respect to the CPI
Companies or the conduct of the Business by the CPI Companies from any taxing authority.
Except as set forth on Schedule 3.1(m), none of the CPI Companies has taken action
which is not in accordance with past practice that could defer any liability for Taxes from
any taxable period ending on or before the Closing Date to any taxable period ending after
such date and none of the CPI Companies has consented to the application of Section 341(f)
of the Code. All monies required to be held or collected by each CPI Company and a portion
of any such Taxes to be paid by each CPI Company to any taxing authority has been collected
or withheld and either paid to the respective taxing authority or set aside in accounts for
such purposes. All foreign, state and local jurisdictions where each CPI Company has filed
Tax Returns since their respective formation are set forth on Schedule 3.1(m). No
claim has been made by any taxing authority in any jurisdiction not set forth on
Schedule 3.1(m) that any CPI Company is or may be subject to taxation by such
jurisdiction. None of the CPI Companies has ever been a member of any affiliated,
consolidated, combined or unitary group, or filed or been included in a combined,
consolidated or unitary tax return, and none of the CPI Companies are currently under a
contractual obligation to indemnify any other Person with respect to Taxes. None of the
CPI Companies is or ever has been a party to or bound by any Tax sharing, Tax allocation,
or similar agreement or arrangement. Except as set forth on Schedule 3.1(m), none
of the CPI Companies has ever been a member of, or had an interest in, any partnership,
joint venture, trust, limited liability company or other entity, the taxable income of
which is or was required to be taken into account by the Companies on their tax return in
whole or in part.

(n) Labor Matters. The CPI Companies do not have and never have had, any
employees other than Cohl or as set forth on Schedule 3.1(n).
Schedule 3.1(n) sets forth the name, title and current hourly or annualized salary
for all employees of the CPI Companies, together with vacation and severance benefits to
which each employee is entitled.

(o) Employee Benefit Plans and Arrangements. Except for employee benefit
plans sponsored by the Buyer Group, none of the CPI Companies has, or ever has had, any
liability under (or otherwise have been bound with respect to) any employee benefit plan or
other similar arrangement, including (1) any profit-sharing, deferred compensation, bonus,
stock options, equity compensation, stock purchase, pension, retainer, consulting,
retirement, severance or incentive compensation plan, agreement or arrangement, (2) any
welfare benefit plan, agreement or arrangement or any plan, agreement or arrangement
providing for “fringe benefits” or perquisites to employees, officers, directors or agents,
including but not limited to benefits relating to automobiles, clubs, vacation, child care,
parenting or maternity leave, sabbaticals, sick leave, medical expenses, dental expenses,
disability, accidental death or dismemberment, hospitalization, life insurance and other
types of insurance, (3) any employment agreement (other than with Cohl), or (4) any other
“employee benefit plan” (within the meaning of Section 3(3) of ERISA).

(p) Transactions with Affiliates. Except for this Agreement and the Ancillary
Agreements and except as set forth on Schedule 3.1(p), none of Cohl nor any
shareholder, director or officer of the CPI Companies or the Corporate Sellers, and no
associate or Affiliate of Cohl or any such shareholder, director or officer is currently,
directly or indirectly, a party to any executory transaction with the CPI Companies. For
the purposes of this Section 3.1(p) only, an “associate” of any shareholder, director or
officer means a member of the immediate family of such shareholder, director or officer or
any corporation, partnership, trust or other entity in which such shareholder, director,
officer or employee has a substantial ownership or beneficial interest or is a director,
officer, partner or trustee, or Person holding a similar position.

(q) Business Relationships. Except as set forth on Schedule 3.1(q),
none of the Majority Sellers or the CPI Companies have received any written notice that any
Person or entity with whom the CPI Companies do business will not continue to do business
with such entity after the Closing Date on terms and conditions substantially the same as
those prevailing during the past twelve (12) months, as a result of the transactions
contemplated in this Agreement.

(r) Cohl’s Relationship. Cohl, as an executive officer and member of the
board of directors of Buyer Parent, has been provided with, and is familiar with,
significant and material information regarding the business, assets, results of operations
and financial conditions of the Buyer Group.

(s) No Other Representations Acknowledgement. The Sellers acknowledge that
neither the Buyer Group nor any of their Affiliates or any of their respective directors,
officers, employees, agents, advisors or representatives makes any representation or
warranty, either express or implied, to the Sellers or their agents or representatives,
except for the representations and warranties set forth in this Agreement (including the
Schedules attached hereto), in the Ancillary Agreements or in any certificate or other
instrument delivered in connection herewith or therewith.

3.2 Representations and Warranties of the Buyer Group. Buyer represents and warrants
to the Sellers as of the date hereof, as follows:

(a) Due Organization; Good Standing and Power. Each of Buyer and Buyer Parent
is a corporation duly organized, validly existing and in good standing under the laws of
Delaware. Each of Buyer and Buyer Parent has all corporate power and authority to enter
into this Agreement and the Ancillary Agreements and to perform their respective
obligations hereunder and thereunder. Each of Buyer and Buyer Parent has the corporate
power and authority to own, lease and operate its assets and to conduct its business as now
conducted. Each of Buyer and Buyer Parent is duly authorized, qualified or licensed to do
business as a foreign corporation and is in good standing in each jurisdiction in which its
right, title and interest in or to any of its assets or the conduct of its business,
requires such authorization, qualification or licensing, except for the failure to so
qualify or to be in good standing in such other jurisdiction that would not have a material
adverse effect. No action or proceeding to dissolve the Buyer or Buyer Parent is pending.

(b) Authorization and Validity of Agreement. The execution, delivery and
performance of this Agreement by each of Buyer and Buyer Parent and the consummation by
each of Buyer and Buyer Parent of the transactions contemplated hereby have been duly
authorized by all requisite corporate action on its part. No other corporate action is
necessary for the authorization, execution, delivery and performance by each of Buyer and
Buyer Parent of this Agreement and the consummation by each of Buyer and Buyer Parent of
the transactions contemplated hereby. This Agreement has been duly executed and delivered
by each of Buyer and Buyer Parent and constitutes a legal, valid and binding obligation of
each of Buyer and Buyer Parent, enforceable against each of Buyer and Buyer Parent in
accordance with its respective terms, except as the same may be limited by bankruptcy,
insolvency or other similar laws affecting creditors’ rights generally and by general
equity principles.

(c) No Approvals or Notices Required; No Conflict with Instruments. Except as
specifically contemplated by this Agreement, the execution, delivery and performance of
this Agreement by each of Buyer and Buyer Parent and the consummation by it of the
transactions contemplated hereby (i) will not violate (with or without the giving of notice
or the lapse of time or both), or require any consent, approval, filing or notice under any
provision of any law, rule or regulation, court order, judgment or decree applicable to it,
and (ii) will not conflict with, or result in the breach or termination of any provision
of, or constitute a default under, or result in the acceleration of the performance of its
obligations under, its charter or bylaws or any indenture, mortgage, deed of trust, lease,
licensing agreement, contract, instrument or other agreement to which Buyer or Buyer Parent
is a party or by which Buyer or Buyer Parent or any of their respective assets or
properties are bound.

(d) Certain Fees. None of the Buyer Group, nor any of their officers,
directors or employees, on behalf of them, have employed any broker or finder or incurred
any other liability for any brokerage fees, commissions or finders’ fees in connection with
the transactions contemplated hereby.

(e) Capitalization. Buyer Parent’s capital stock consists of (i) 450,000,000
shares of LN Common Stock, of which 65,521,804 shares were outstanding as of May 4, 2007,
and (ii) 50,000,000 shares of preferred stock, par value $.01 per share, of which no shares
are outstanding as of the date hereof. The outstanding shares of capital stock of Buyer
Parent have been duly authorized, validly issued and fully paid and non-assessable. The
Transaction Shares have been duly authorized and, when issued and delivered to the Minority
Sellers and the Trustee under the terms of this Agreement, will be validly issued and fully
paid and non-assessable.

(f) LN SEC Documents. Buyer Parent has filed or caused to be filed on a
timely basis with the U.S. Securities and Exchange Commission (the “SEC”) all
reports, schedules, forms, statements, exhibits and other documents required to be filed by
it pursuant to the reporting requirements of Section 13 or Section 15(d) of the Securities
Exchange Act of 1934, as amended (“LN SEC Documents”); provided, however, LN SEC Documents
shall not include Forms 3, Forms 4 or any other filings or reports required to be made by
shareholders, officers or directors of Buyer under the Securities Exchange Act of 1934.
None of the LN SEC Documents contained, when made, any untrue statement of a material fact
or omitted to state a material fact necessary in order to make the statements made, in
light of circumstances under which they were made, not misleading in a material manner.

(g) No Other Representations Acknowledgement. The Buyer Group acknowledges
that neither Cohl, any Seller, any Company nor any of their Affiliates or any of their
respective directors, officers, employees, agents, advisors or representatives makes any
representation or warranty, either express or implied, to the Buyer or its agents or
representatives, except for the representations and warranties set forth in this Agreement
(including the Schedules attached hereto), in the Ancillary Agreements or in any
certificate or other instrument delivered in connection herewith or therewith.

3.3 Representations and Warranties of the Sellers. Each of the Sellers, severally and
not jointly, represents and warrants to the Buyer Group as of the date hereof, as follows:

(a) Each Minority Seller represents that such Minority Seller is acquiring the
Minority Seller Shares for his own account for investment only and not with a view to offer
for sale or other disposition in connection with any distribution of all or any part
thereof (although the disposition of Minority Seller Shares shall remain within each
Minority Seller’s discretion subject to Applicable Law), except pursuant to an applicable
exemption under the Securities Act or a registration thereunder.

(b) Each Majority Seller represents that it is acquiring the Trust Certificates (and
any Trust Shares that may be subsequently transferred by the Trustee to such Majority
Seller in accordance with the terms of the Trust Agreement) for its own account for
investment only and not with a view to offer for sale or other disposition in connection
with any distribution of all or any part thereof, except pursuant to an applicable
exemption under the Securities Act or a registration thereunder.

(c) Each Seller represents that such Seller has had access, and reviewed to the extent
he deems appropriate, the LN SEC Documents. Each Seller further represents that he has had
an opportunity to ask questions of and to receive answers from Buyer Parent regarding Buyer
Parent and its business, assets, results of operations and financial condition and terms
and conditions of the issuance of the Transaction Shares pursuant to the terms hereof.

(d) Each Seller represents that such Seller can bear the economic risk of his direct
or indirect investment in the Transaction Shares and has such knowledge and experience in
financial business matters and that he is capable of bearing and managing the risk of
direct or indirect investment in the Transaction Shares, and that the Buyer Parent intends
to make the filings required to comply with Regulation D, and that he is an accredited
investor as defined in Regulation D under the Securities Act.

(e) Each Seller understands that the Transaction Shares, when issued to such Seller or
to the Trustee, in the case of the Majority Sellers, will not have been registered pursuant
to the Securities Act or any applicable states securities law, the Transaction Shares will
be characterized as “restricted securities” under federal securities laws, and that under
such laws and applicable regulations, the Transaction Shares cannot be sold or otherwise
disposed of without registration under the Securities Act or an exemption therefrom. In
this connection, each Seller represents that he is familiar with Rule 144 promulgated under
the Securities Act as currently in effect and understands that the resale limitations
imposed thereby under the Securities Act and that additional resale limitations will be
applicable to a Seller under Rule 144 if the Seller is deemed to be an affiliate of Buyer
Parent under the Securities Act. Sellers further acknowledge that officers and directors
of Buyer Parent and its Affiliates are subject to further limitations on sales of
securities of Buyer Parent.

(f) In addition to the limitations on the sale or the resale of LN Shares described in
Section 3.3(e), the Majority Sellers and Buyer Parent shall enter into, at the Closing, a
Lockup and Registration Rights Agreement in the form of Exhibit C attached hereto
(the “Lockup Agreement”), which Lockup Agreement shall provide further limitations on the
resale of the Trust Shares. Other than pursuant to the terms of the Lockup Agreement,
Buyer Parent shall be under no obligation to register any of the Transaction Shares
pursuant to the terms of this Agreement or otherwise.

(g) It is agreed and acknowledged by each Minority Seller that the certificates
representing the Minority Seller Shares shall each conspicuously set forth on the face or
back thereof, a legend in the form of Exhibit D-1 attached hereto.

(h) It is agreed and acknowledged by each Majority Seller that the certificate
representing the Trust Shares shall conspicuously set forth on the face or back thereof, a
legend in the form of Exhibit D-2 attached hereto, which may only be removed as
provided in the Lockup Agreement.

(i) The Majority Sellers expressly acknowledge and agree that (x) the Trust
Certificates are non-transferable except as expressly provided in the Trust Agreement, (y)
the Majority Sellers are only entitled to receive the proceeds from the sale of the Trust
Shares, and not the Trust Shares themselves, except as expressly provided in the Trust
Agreement and/or the Lockup Agreement, and (z) the Majority Sellers will have no right to
vote the Trust Shares while owned by the Trustee pursuant to the Trust Agreement.

3.4 Sellers Disclosure Schedules. The Sellers Disclosure Schedules are qualified in
their entirety by reference to specific provisions in this Agreement. The fact that any item of
information or references to dollar amounts is contained in the Sellers Disclosure Schedules shall
not be construed to mean that such information is (i) required to be disclosed by this Agreement or
(ii) a basis or standard for interpreting the terms “materiality,” “materially,” “material” or
“Material Adverse Effect” as used in this Agreement. Nothing in the Sellers Disclosure Schedules
constitutes an admission of any liability or obligation of the Sellers or any CPI Company to any
third party, nor an admission of any liability or obligation to any third party against the
interests of the Sellers or the CPI Companies. The schedule headings in the Sellers Disclosure
Schedules are for convenience of reference only and shall not be deemed to alter or affect the
express description of the Sellers Disclosure Schedules as set forth in this Agreement. To the
extent applicable, any matter set forth in one section of the Sellers Disclosure Schedules which
could, based solely on the substance of the disclosure itself, reasonably be determined to be
applicable to another section of the Sellers Disclosure Schedules or to modify another
representation or warranty of the Sellers or the Companies on its face shall be deemed to be set
forth in each other section of the Sellers Disclosure Schedules or to modify the representation and
warranty to which it is applicable.

4. Covenants.

4.1 Further Actions. Subject to the terms and conditions hereof, the Sellers (with
respect to clauses (iii) and (iv) only), Cohl, the Companies and the Buyer Group will each use
their commercially reasonable efforts to take, or cause to be taken, all action and to do, or cause
to be done, all things necessary, proper or advisable to consummate and make effective the
transactions contemplated by this Agreement, including using commercially reasonable efforts: (i)
to obtain all licenses, Permits, consents, approvals, authorizations, qualifications and orders of
Governmental Entities and parties to contracts with the CPI Companies or the Buyer Group as are
necessary for the consummation of the transactions contemplated hereby and as have not been
obtained prior to the Closing Date; (ii) to effect all necessary registrations and filings; (iii)
to cause the execution of the various agreements attached hereto as Exhibits; and (iv) to furnish
to each other such information and assistance as reasonably may be requested in connection with the
foregoing. Where the consent of any third party is required under the terms of any of the CPI
Companies’ leases or contracts to the transactions contemplated by this Agreement, Cohl and the
Companies will use commercially reasonable efforts to obtain such consent on terms and conditions
not less favorable than as in effect on the date hereof. Cohl, the Companies and the Buyer Group
shall cooperate fully with each other to the extent reasonably required to obtain such consents.

4.2 No Inconsistent Action. No Party shall take any action inconsistent with its
obligations under this Agreement or which could materially hinder or delay the consummation of the
transactions contemplated by this Agreement.

4.3 Public Announcements.

(a) Except as may be required by Applicable Law, none of the Sellers shall issue any
press release or otherwise make any public statements or filings with respect to this
Agreement or the transactions contemplated hereby without the prior written consent of
Buyer.

(b) Except as may be required by Applicable Law or as may be required to satisfy the
rules of any listing exchange upon which the LN Common Stock is listed, neither Buyer nor
any of its Affiliates will issue a separate stand-alone press release or public
announcement that describes the transactions contemplated hereby unless Cohl has reviewed
and approved such stand-alone press release or public announcement (such approval not to be
unreasonably withheld or delayed). Buyer and its Affiliates shall not be otherwise
restricted or constrained in any public statement concerning this transaction that is made
as a part of an earnings release, investor call or other similar communication that
includes disclosures or discussions about matters other than the transaction contemplated
hereby.

4.4 2007 Tax Allocations for Grand ROW. The Grand Seller and Buyer acknowledge and
agree that, for tax purposes, (i) the books of the Grand ROW will be closed as of the Closing Date
and (ii) the income, gains, losses and deductions allocable in respect of the Purchased Interests
in Grand ROW for the tax year ending in 2007 shall be prorated between the Grand Seller and Buyer
on the basis of the actual results of the Grand ROW’s operations before and after the Closing Date.
The Grand Seller and Buyer agree that any costs associated with the closing of Grand ROW’s books
as of the Closing Date and the making and recording of such allocation between the Grand Seller and
Buyer will be at the sole cost and expense of Grand ROW.

5. Additional Closing Actions.

5.1 Closing Deliveries. At the Closing:

(a) Services Agreements. The Cohl Services Agreement shall be executed and
delivered by the Buyer Parent, the Companies, Cohl and KSC.

(b) Certificates Evidencing the Minority Seller Shares. Certificates
evidencing the Minority Seller Shares shall be delivered by the Buyer Parent to the
Minority Sellers, with each such certificate containing a legend in the form of
Exhibit D-1 attached hereto.

(c) Certificates Evidencing the Trust Shares. A certificate evidencing the
Trust Shares shall be delivered by the Buyer Parent to the Trustee, with such certificate
containing a legend in the form of Exhibit D-2 attached hereto.

(d) The Lockup Agreement. The Lockup Agreement shall be executed and
delivered by the Majority Sellers and the Buyer Parent.

(e) Trust Agreement and Trust Certificates. The Trust Agreement shall be
executed and delivered by the Majority Sellers, the Buyer Parent and the Trustee, and the
Trustee shall issue the Trust Certificates to the Majority Sellers as required by the terms
of the Trust Agreement.

(f) Licenses and Consents. All material licenses, Permits, consents,
approvals, authorizations, qualifications and orders of governmental authorities or any
other third parties required to consummate the transactions contemplated by this Agreement
and/or which are reasonably necessary to enable (i) Buyer to own the Purchased Interests,
including each of the consents and approvals listed on Schedule 3.1(c), and
(ii) the Minority Sellers to own the Minority Seller Shares and (iii) the Trustee to own
the Trust Shares, shall have been obtained and shall be in full force and effect (except as
may otherwise be agreed by Buyer as regards clause (i) above with respect to the approval
and consents listed on Schedule 3.1(c), such agreement to be evidenced by Buyer
proceeding with the Closing).

(g) Legal Opinion with Respect to ROW Tour. The Majority Sellers shall cause
to be delivered legal opinions in the form agreed to by the parties with respect to ROW
Tour.

(h) Other Document Deliveries to Buyer. Buyer shall receive all the
certificates, instruments and documents listed below:

(i) the certificates and instruments contemplated by Section 1.1;

(ii) to the extent required by Buyer, the written resignation of applicable
officers, directors and managers of the CPI Companies, such resignations to be
effective concurrently with the Closing Date;

(iii) the original corporate minute books, and other similar records and files,
relating to each of the CPI Companies;

(iv) certificates from applicable governmental officials of the jurisdiction of
incorporation or organization of each Company as to the legal existence and good
standing of such Company in such jurisdiction;

(v) a letter signed by Cohl confirming his understanding and acknowledgment to
the matters listed on Exhibit E hereto.

(vi) releases in the form attached hereto as Exhibit F executed by the
Sellers; and

(vii) certified copies of all corporate actions taken by the Companies and the
Corporate Sellers to properly authorize the transactions contemplated by this
Agreement or incidental thereto, and such other instruments and documents as
reasonably requested by counsel to the Buyer.

(i) Other Document Deliveries to Sellers. Sellers shall receive certified
copies of all corporate actions taken by the Buyer to properly authorize the transactions
contemplated by this Agreement or incidental thereto and such other instruments and
documents as reasonably requested by counsel to the Sellers.

6. Covenants; Action Subsequent to Closing.

6.1 Certain Restrictive Covenants.

(a) Non-Compete Covenant. In order to allow the Buyer to (x) protect the
valuable and unique trade secrets, confidential information and goodwill of the CPI
Companies and Cohl and (y) realize the full benefit of Buyer’s bargain in connection with
the purchase of the Purchased Interests, the Majority Sellers, jointly and severally,
covenant and agree that they will not, directly or indirectly, at any time for a period of
nine (9) years following the Closing Date (the “Restricted Period”) (i) carry on, operate,
manage, control, or become interested in or involved with, in any manner, as an owner,
director, principal, agent, officer, employee, partner, consultant, servant, lender or
otherwise, any of the Restricted Activities anywhere in the world or (ii) undertake any
planning, development or preparatory activities in anticipation of the pursuit of any
Restricted Activities anywhere in the world. As used herein, the term “Restricted
Activities” shall mean and include each and all of the following businesses, operations,
activities and undertakings:

(i) All of the businesses, operations, activities and undertakings that are
actually engaged in as of the Closing Date by the Buyer, any of Buyer’s Affiliates
or any of the CPI Companies (collectively, the “Buyer Affiliated Group”);

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

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

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

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

(b) Additional Agreements relating to the Non-Compete Covenant. The covenants
and agreements undertaken by the Majority Sellers in Section 6.1(a) are herein collectively
referred to as the “Non-Compete Covenant” and shall be subject to and modified by the
following provisions:

(i) The Majority Sellers represent, acknowledge and agree that the most
significant assets of the CPI Companies are certain personal relationships,
goodwill, trade secrets and other confidential information (collectively, the “Trade
Secrets”), including, without limitation, the Cohl Relationship Goodwill, that
relate to and are crucial in obtaining (i) the rights to produce world-wide concert
tours in the future from major world-renowned musical artists and entertainers and
(ii) other material rights and benefits that will be derived from those touring
relationships with major world-renowned musical artists and entertainers. The
Majority Sellers further represent, acknowledge and agree that the consideration
that Buyer would be willing to pay for the Purchased Interests would be a small
fraction of the amount of the consideration that is being paid pursuant to this
Agreement if the Trade Secrets were not owned and possessed by the CPI Companies and
thereby not included as a part of the rights, benefits and assets that Buyer is
acquiring pursuant to its purchase of the Purchased Interests. The Majority Sellers
recognize and agree that (i) Cohl’s goodwill and personal relationships in the music
and concert industry throughout the world (“Cohl Relationship Goodwill”) are
substantial assets being acquired in connection with Buyer’s purchase of the
Purchased Interests, including Cohl’s direct and indirect share of the Purchased
Interests, as evidenced by the retention of the services of Cohl after the Closing
pursuant to the terms of Cohl’s Services Agreement and (ii) the Buyer is entering
this Agreement in reliance on Cohl’s agreement to personally refrain from
competition and solicitation as required by the terms of this Section 6.1.

(ii) The Majority Sellers represent, acknowledge and agree that the CPI
Companies are currently engaged, have historically been engaged, and plan to
hereafter be engaged in Restricted Activities throughout all parts of the world and
that in order to protect the value of the Trade Secrets and to allow Buyer to obtain
the full benefit of the bargain of the transaction contemplated by this Agreement,
the Non-Compete Covenant must restrict the undertaking of the Restricted Activities
on a world-wide basis.

(iii) The Majority Sellers represent, acknowledge and agree that underlying the
bargain that has resulted in Buyer Group’s agreement to pay the consideration for
the Purchased Interests is the fundamental understanding and expectation that the
Non-Compete Covenant will be enforceable throughout the Restricted Period in
accordance with its terms. As a result, the Majority Sellers agree that if, as a
result of any action, effort or proceeding by the Majority Sellers or any of their
respective Affiliates, the Non-Compete Covenant should ever be found to be
unenforceable as written or is reformed or otherwise modified by order of any court
or tribunal, then the Sellers will be immediately obligated to pay to Buyer, without
notice or demand, a monetary amount equal to the the number of days remaining in the
portion of the Restricted Period that has not yet elapsed divided by the total
number of days in the entire Restricted Period multiplied by $125,000,000. The
Majority Sellers acknowledge, stipulate and agree that the enforceability of the
Non-Compete Covenant is a condition of delivering the Trust Shares to the Trustee
pursuant to this Agreement, thereby necessitating the payment of the amounts
specified above in lieu of returning the Trust Shares and any profit received from
same. The Majority Sellers expressly agree and acknowledge that the phrase
“unenforceable as written” (i) refers to a determination, ruling or order that
results in the Non-Compete Covenant not being enforced with respect to activities
that fall within the scope or the terms of the Non-Compete Covenant as written and
(ii) does not refer to any determination, ruling or order that results in a
determination that a particular activity falls outside of the scope and/or terms of
the Non-Compete Covenant as written.

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

(v) The Majority Sellers represent, acknowledge and agree that the violation or
breach of the Non-Compete Covenant may result in damages to Buyer Group that are
difficult or impossible to ascertain. The Majority Sellers therefore agree that,
upon any violation or breach of the Non-Compete Covenant by one or more of the
Majority Sellers, Buyer Group shall have the right to recover from the Majority
Sellers as liquidated damages, and not as a penalty, an amount equal to 100% of the
gross revenues received by the Majority Sellers, directly or indirectly, from the
underlying activity that constitutes the violation or breach of the Non-Compete
Covenant; provided further, however, that these provisions shall in no way limit any
other remedies that Buyer Group may have (including, without limitation, the right
to seek actual monetary damages if readily ascertainable or any equitable relief in
the nature of an injunction or specific performance). The Majority Sellers
represent, acknowledge and agree that the measure of liquidated damages set forth in
this clause are reasonable in light of the nature, type and scope of the damage that
would be suffered by Buyer Group in the event of a breach of the Non-Compete
Covenant by any one or more of the Majority Sellers. While Buyer Group may present
arguments, in the alternative, in a court proceeding seeking recovery of actual
monetary damages and liquidated damages upon an occurrence of a violation of the
Non-Compete Covenant, Buyer Group agrees, stipulates and acknowledges that it shall
not be entitled to an award of both actual monetary damages and liquidated damages
in connection with the same violation of the Non-Compete Covenant.

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

(vii) The Majority Sellers expressly acknowledge and agree that all Majority
Sellers will be liable and responsible to Buyer Group in respect of the rights,
remedies and recourses that may be available to Buyer Group at law, in equity or
pursuant to the provisions of this Agreement should any one or more of the Majority
Sellers, directly or indirectly, violate or breach the Non-Compete Covenant.

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

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

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

(e) Material Reliance. The Majority Sellers represent, acknowledge and agree
that the provisions of this Section 6.1 are material provisions of this Agreement and that
the Buyer Group would not have entered into this Agreement but for these provisions.

6.2 NYSE Filing. As soon as practicable following the Closing, Buyer Parent shall
cause the Transaction Shares to be listed on the New York Stock Exchange, including filing the
notice of issuance of the Transaction Shares as required pursuant to the rules of the New York
Stock Exchange and remitting any required filing fees.

6.3 Deferred Entertainment Investments. Reference is made to the provisions contained
in Section 6.5 of the Prior Purchase Agreement (the “Deferred Entertainment Investment Covenants”).
The Majority Sellers hereby covenant and agree with the Buyer Group that, to the extent the
Deferred Entertainment Investment Covenants have not yet been fully and completely performed, the
Majority Sellers shall cause such Deferred Entertainment Investment Covenants to be fully and
finally performed as soon as reasonably practicable after the execution of this Agreement but in no
event later than September 30, 2007.

7. Indemnification.

7.1 Indemnification by the Majority Sellers.

(a) Subject to the provisions of this Article 7, the Majority Sellers, jointly and
severally (without any right of contribution from the Companies) shall protect, indemnify
and hold harmless Buyer, Buyer Parent, the CPI Companies, each of their permitted assigns,
the Affiliates of the Buyer Group, and where applicable, each officer and director of the
Buyer Group and its Affiliates (collectively, the “Buyer Indemnified Parties”), in respect
of any losses, claims, damages, liabilities, deficiencies, delinquencies, defaults,
assessments, fees, penalties or related costs or expenses, including, but not limited to,
court costs and reasonable attorneys’, and accountants’ fees and disbursements, without
duplication but reduced by any net amount paid to any such indemnified party or any CPI
Company on account thereof by any insurance policies and other contributions received by
any such indemnified party or any CPI Company from third parties and any reduction in Taxes
attributable thereto (collectively referred to herein as “Damages”), incurred by such
Person arising out of, relating to, or based upon the breach of—

(i) any of the representations and warranties (other than as set forth in
Section 3.3) made by any one or more of the Sellers in this Agreement, including the
Schedules hereto but excluding all Exhibits hereto, or in any certificate or
instrument delivered by or on behalf of the Sellers pursuant to this Agreement; or

(ii) any the covenants or agreements made by any one or more of the Sellers in
this Agreement, including the Schedules hereto but excluding all Exhibits hereto, or
in any certificate or instrument delivered by or on behalf of the Sellers pursuant
to this Agreement.

(b) Subject to the provisions of this Section 7, each Seller, severally and not
jointly, shall protect, indemnify and hold harmless the Buyer Indemnified Parties in
respect of any Damages incurred by the Buyer Indemnified Parties arising out of, relating
to or based upon the breach of any of such Seller’s representations and warranties set
forth in Section 3.3.

(c) For purposes of this Article 7, the Buyer Indemnified Parties shall not be deemed
to have suffered any Damages arising out of, relating to, or based upon the breach of any
of the representations and warranties or any of the covenants or agreements made by any of
the Sellers under this Agreement to the extent that any loss, claim, damage, liability,
deficiency, delinquency, default, assessment, fee, penalty or related cost or expense is
measured by, imposed upon or related to the ownership interests of the Buyer Group in the
CPI Companies prior to the Closing Date; provided, however, that this provision
shall not be deemed to alter, amend, modify or supplement any of the representations,
warranties, covenants and agreements of the Sellers under the Prior Purchase Agreement,
which representations, warranties, covenants and agreements shall remain in force and
effect pursuant to the terms of the Prior Purchase Agreement.

7.2 Indemnification by the Buyer Group. Subject to the provisions of this Article 7,
the Buyer Group shall protect, indemnify and hold harmless each Seller and its permitted assigns,
each Seller’s Affiliates and, where applicable, each Seller’s officers and directors, in respect of
any Damages incurred by such Person arising out of, relating to, or based upon the breach of any of
the representations, warranties, covenants or agreements made by the Buyer Group in this Agreement,
including the Schedules hereto but excluding all Exhibits hereto, or in any certificate or
instrument delivered by or on behalf of the Buyer Group pursuant to this Agreement.

7.3 Indemnification Procedures. The obligations and liabilities of each indemnifying
Party hereunder with respect to claims resulting from the assertion of liability by another Party
or third parties shall be subject to the following terms and conditions:

(a) Any Person (the “Indemnified Party”) making a claim for indemnification (a
“Claim”) against the Buyer Group or the Majority Sellers (the “Indemnifying Party”) under
this Section 7 shall notify each Indemnifying Party thereof in writing with reasonable
details of a Claim promptly after the Indemnified Party discovers the liability, obligation
or facts giving rise to such Claim; provided, however, the failure of the Indemnified Party
to provide prompt notice of a Claim as contemplated by this Section 7.3(a) shall not affect
the right of the Indemnified Party to be indemnified pursuant to this Article 7 for such
Claim except to the extent such failure materially prejudices the ability of the
Indemnifying Party to defend such Claim.

(b) Any Indemnifying Party will have the right to defend the Indemnified Party against
any third party Claim with counsel of its choice reasonably satisfactory to the Indemnified
Party so long as the Indemnifying Party conducts the defense of the Claim actively and
diligently and in good faith.

(c) So long as the Indemnifying Party is conducting the defense of a third party Claim
in accordance with Section 7.3(b), (i) the Indemnified Party may retain separate co-counsel
at its sole cost and expense and participate in the defense of the Claim, and (ii) the
Indemnifying Party will not consent to the entry of any judgment or enter into any
settlement with respect to the Claim without the prior written consent of the Indemnified
Party (not to be withheld or delayed unreasonably) unless such judgment or settlement
contains an unconditional release of the Indemnified Party and does not impose any
injunctive or other equitable relief against (or any other obligation on) the Indemnified
Party.

(d) In the event any of the conditions in Section 7.3(b) is or becomes unsatisfied,
however, (i) the Indemnified Party may defend against, and consent to the entry of any
judgment or enter into any settlement with respect to, a third party Claim in any manner it
reasonably may deem appropriate (the Indemnified Party need not obtain any consent from any
Indemnifying Party in connection therewith, but, acting reasonably, will keep informed and
consult with the Indemnifying Party) and (ii) the Indemnifying Party will remain
responsible for any Damages the Indemnified Party may suffer arising out of, relating to or
based upon the Claim to the fullest extent provided in this Section 7; provided, that in no
event shall an Indemnifying Party be responsible for the fees of more than one law firm,
except in the case of a conflict of interest, or where required to address local law issues
or specialized areas of the law.

7.4 Time Limits on Liability; Indemnification Cap.

(a) The representations and warranties of the Parties shall survive the Closing.
Anything contained in this Agreement to the contrary notwithstanding, the liability of any
Party for indemnity with respect thereto shall only extend to matters for which a bona fide
claim has been asserted by written notice of such claim with reasonable details delivered
to the Indemnifying Party on or before eighteen (18) months from the Closing Date, except
for (i) breaches of the representations and warranties with respect to Tax matters as set
forth in Section 3.1(m) which will survive for statutory limitation periods, including any
extensions or waivers thereof and (ii) breaches of the representations and warranties set
forth in Section 3.1(b)(ii), Section 3.1(b)(iv) and Section 6.1 which shall survive
indefinitely. This Section 7.4 shall not at any time relieve any Party from the
performance of such Party’s agreements, covenants or undertakings set forth in this
Agreement and such agreements, covenants or undertakings shall survive without limitation.

(b) Notwithstanding anything herein to the contrary, the total liability of the
Majority Sellers to protect, indemnify and to hold harmless the Buyer Indemnified Parties
with respect to Damages pursuant to the provisions of Section 7.1(a)(i) arising from
breaches of representations or warranties shall not apply to the extent that the amount of
such Damages exceed the then CPI Notional Basket Value Amount; provided that the
limitations specified in this Section 7.4(b) shall not apply with respect to Damages
arising from a breach of the representations and warranties contained in Section 3.1(m)
concerning certain tax matters of the CPI Companies.

(c) Notwithstanding anything herein to the contrary, the total liability for the Buyer
Group to protect, indemnify and hold harmless the Sellers with respect to Damages pursuant
to the provisions of Section 7.2 arising from breaches of representations or warranties
shall not apply to the extent that the amount of such Damages exceeds the then LN Notional
Basket Value Amount.

(d) Notwithstanding anything herein to the contrary, no indemnification claim may be
made under Section 7.1(a)(i) for a breach of a representation or warranty (the “Threshold
Items”) unless and until the aggregate amount of all Damages sustained or incurred to which
the indemnity under Section 7.1(a)(i) for the Threshold Items would apply exceeds
$750,000.00 (the “Threshold Amount”). If such aggregate Damages for the Threshold Items
exceed the Threshold Amount, then the aggregate liability of the Majority Sellers shall be
(subject to the other provisions of this Section 7.4) for the Damages for the Threshold
Items in excess of the Threshold Amount.

(e) The Majority Sellers shall have the right to deliver or cause the Trustee to
deliver, shares of LN Common Stock (“Payment Shares”) to Buyer Group as payment of
indemnity obligations under Section 7.1 hereof. For these purposes, Payment Shares will be
valued at the closing share price of LN Common Stock on the date such Payment Shares are
delivered to the Buyer Group. All Payment Shares will be treated first as coming from
those shares of LN Common Stock that are not then subject to the restrictions contained in
Section 4.3 of the Lockup Agreement or Section 4.3 of the Prior Lockup Agreement
(collectively, “Unlocked Shares”) and, after all Unlocked Shares have been so used, second
as coming from those shares of LN Common Stock that are then subject to the restrictions
contained in Section 4.3 of the Lockup Agreement or Section 4.3 of the Prior Lockup
Agreement.

7.5 Right to Indemnification Not Affected By Knowledge or Materiality. The right to
indemnification, payment of Damages or other remedy based on the breach of representations,
warranties, covenants, and obligations will not be affected by any investigation conducted with
respect to, or any knowledge acquired (or capable of being acquired) at any time, whether before or
after the execution and delivery of this Agreement or the Closing Date, with respect to the
accuracy or inaccuracy of or compliance with, any such representation, warranty, covenant, or
obligation. The waiver of any condition based on the accuracy of any representation or warranty,
or on the performance of or compliance with any covenant or obligation, will not affect the right
to indemnification, payment of Damages, or other remedy based on such representations, warranties,
covenants, and obligations. Furthermore, for the purposes of calculating the amount of Damages
arising from any breach or default of any of the representations, warranties, covenants and
agreements contained in this Agreement, the applicable provisions thereof shall be read and
interpreted as if any qualification stated herein with respect to materiality or material adverse
effect was not contained therein.

7.6 Exclusive Remedy. Except for (i) actions for statutory or common law fraud or
intentional misrepresentation and (ii) actions arising out of or relating to any violation or
breach of the covenants set forth in Section 6.1 of this Agreement and the non-exclusive remedies
provided therein, the remedies provided in this Article 7 shall be the sole and exclusive remedies
available to any Indemnified Party for monetary compensation with respect to any claim under this
Agreement for a breach or default of any representation, warranty, covenant or agreement (including
the Schedules hereto, but excluding the Exhibits hereto), but the foregoing shall not preclude any
Party from seeking equitable remedies without compliance or regard to Article 7.

8. Miscellaneous.

8.1 Payment of Certain Fees and Expenses. Sellers and Buyer Group shall pay their own
fees and expenses incurred in connection with the negotiation, preparation, execution and
performance of this Agreement, including, without limitation, brokers’ fees, attorneys’ fees and
accountants’ fees. The CPI Companies will not incur any expense in connection with this proposed
transaction unless approved by both Buyer and the Majority Sellers.

8.2 Notices. All notices, requests, demands and other communications which are
required or may be given under this Agreement shall be in writing and shall be deemed to have been
duly given if delivered personally or mailed, first class mail, postage prepaid, return receipt
requested, or sent by telecopier, as follows:

(a) If to the Companies, then the notice must be provided to both the Sellers and the
Buyer.

(b) If to Sellers or Cohl:

Michael Cohl

28 Pine Road

Palm Court

Bellville, St. Michael, Barbados

Telecopier No.: (246) 429-5143

with a copy to:

	 	 	 	John H. Perkins

	 	 	 	Strategy Capital Barbados Inc.

	 	 	 	Palm Court, 28 Pine Road

	 	 	 	Belleville, St. Michael BB11113 Barbados

and

Kaye Scholer LLP

425 Park Avenue

New York, New York 10022

Attention: Gary J. Gartner

Telecopier No.: (212) 836-8689

(c) If to Buyer:

Live Nation Worldwide, Inc.

9348 Civic Center Drive, 4th Floor

Beverly Hills, CA 90210

Attention: Michael Rapino, Chief Executive Officer

Telecopier No.: (310) 867-7054

with a copy to:

	 	 	 
	Live Nation, Inc.

	 	

	9348 Civic Center Drive, 4th Floor

	Beverly Hills, CA 90210

	Attention:

	 	Michael Rowles, General Counsel

Telecopier No.: (310) 867-7158

or to such other address as a Party shall have specified by notice in writing to the other Parties.
All such notices, requests, demands and communications shall be deemed to have been received on
the earlier of the date of delivery or on the fifth Business Day after the mailing thereof.

8.3 Entire Agreement. This Agreement (including the Exhibits and Schedules hereto)
and the Ancillary Agreements constitute the entire agreement between the Parties and supersedes all
prior agreements and understandings, oral and written, between the Parties with respect to the
subject matter hereof. Notwithstanding the preceding provision or anything else implied hereby, it
is expressly acknowledged and agreed that the Prior Purchase Agreement and the Prior Lockup
Agreement (except as provided in Section 1.5 hereof) shall remain in full force and effect, in
accordance with their respective terms, and shall not be superseded, amended or replaced by this
Agreement or by the Lockup Agreement.

8.4 Binding Effect; Benefit. This Agreement shall inure to the benefit of and be
binding upon the Parties and their respective heirs, personal representatives, successors and
permitted assigns. Except as provided in or contemplated by Article 7, which shall confer upon the
Persons referred to therein for whose benefit it is intended the right to enforce such Article,
nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the
Parties or their respective heirs, personal representatives, successors and permitted assigns, any
rights, remedies, obligations or liabilities under or by reason of this Agreement.

8.5 Assignability. This Agreement shall not be assignable by the Sellers or Cohl
without the prior written consent of Buyer or by Buyer or Buyer Parent without the prior written
consent of the Sellers; provided, however, that Buyer or Buyer Parent shall be entitled to assign
this Agreement, and all of their respective rights and obligations hereunder to a direct or
indirect wholly-owned subsidiary without the consent of the Sellers or any other party, so long as
Buyer or Buyer Parent, as applicable, guarantees the full performance of the obligations set forth
herein in a manner reasonably satisfactory to Cohl and Samco.

8.6 Amendment; Waiver. This Agreement may be amended, supplemented or otherwise
modified only by a written instrument executed by the Buyer Group and Cohl and Samco. No waiver by
any Party of any of the provisions hereof shall be effective unless explicitly set forth in writing
and executed by the Party so waiving. Except as provided in the preceding sentence, no action
taken pursuant to this Agreement, including without limitation, any investigation by or on behalf
of any Party, shall be deemed to constitute a waiver by the Party taking such action of compliance
with any representations, warranties, covenants, or agreements contained herein, and in any
documents delivered or to be delivered pursuant to this Agreement and in connection with the
Closing hereunder. The waiver by any Party of a breach of any provision of this Agreement shall
not operate or be construed as a waiver of any subsequent breach.

8.7 Section Headings. The section headings contained in this Agreement are for
reference purposes only and shall not affect the meaning or interpretation of this Agreement.

8.8 Severability. If any provision of this Agreement shall be declared by any court
of competent jurisdiction to be illegal, void or unenforceable, all other provisions of this
Agreement shall not be affected and shall remain in full force and effect.

8.9 Counterparts. This Agreement may be executed manually or by facsimile or similar
electronic means in any number of counterparts, each of which shall be deemed to be an original and
all of which together shall be deemed to be one and the same instrument.

8.10 Applicable Law. This Agreement shall be governed by, and construed in accordance
with, the internal laws of the State of Florida without regard to principles of conflict of law.

8.11 Dispute Resolution. Any dispute, difference or question (“Dispute”) between the
Buyer Group, on the one hand, and the Sellers, the Companies or Cohl, on the other hand (“Disputing
Parties”), other than any equitable relief sought in connection herewith, shall be resolved in
accordance with the following dispute resolution procedures:

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

(b) Mediation. In the event that the negotiations do not result in a mutually
acceptable resolution, either Disputing Party may require that the Dispute shall be
referred to mediation in Miami, Florida. One mediator shall be appointed by the agreement
of the Disputing Parties. The mediator shall be a suitably qualified Person having no
direct or personal interest in the outcome of the Dispute. Mediation shall be held within
thirty (30) days of a written request for mediation. In the event the Disputing Parties
are unable to agree on a mediator, the Disputing Parties agree to the appointment of a
mediator pursuant to the Commercial Mediation Rules of the American Arbitration
Association. In the event the Disputing Parties are unsuccessful in their mediation of the
Dispute, or if there is any Dispute about the scope of or the compliance by any Party with
the provisions of Section 8.11, either Disputing Party may require that the Dispute be
settled in accordance with the provisions of Section 8.12.

8.12 Jurisdiction/No Jury Trial. Each Party (A) hereby submits to the exclusive
jurisdiction of the state courts located in Miami, Florida and the federal court for the Southern
District of Florida with respect to all actions brought under this Agreement and (B) hereby
irrevocably agrees that (i) all claims in respect of such action or proceeding may be heard and
determined in such courts and (ii) no such claim may be filed or pursued in any other court or
forum anywhere in the world. Each Party hereby irrevocably waives, to the fullest extent it may
effectively do so, the defense of an inconvenient forum to the maintenance of such action or
proceeding. Each Party represents, warrants and agrees that the business operations and offices of
certain of the CPI Companies in Florida provides a significant and material nexus to the State of
Florida. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY
JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER OR RELATING TO THIS AGREEMENT.

9. Definitions.

9.1 Defined Terms. As used in this Agreement, each of the following terms has the
meaning given it below:

“Affiliate” means, with respect to any Person, any other Person that, directly or
indirectly, through one or more intermediaries, controls, is controlled by, or is under
common control with, such Person.

“Applicable Law” means any statute, law, rule or regulation or any judgment, order,
writ, injunction or decree of any Governmental Entity to which a specified Person or
property is subject.

“Business” shall mean the businesses in which the CPI Companies are currently engaged,
including, without limitation, the business of (i) promoting music concert tours,
(ii) acquiring and exploiting intellectual property rights that relate to or derive from
live entertainment performances, such as DVD rights, merchandise rights, manuscript rights
and film rights, and (iii) producing live theatrical shows and other live projects (other
than music concert tours) and (iv) acquiring real estate and making other capital
expenditures necessary to conduct the business of any of the Companies.

“Business Day” means any day other than a Saturday or Sunday, on which national banks
in Miami, Florida are required or permitted to be open.

“Code” means the Internal Revenue Code of 1986, as amended and in effect on the Closing
Date.

“Corporate Sellers” means Samco and the Grand Seller.

“CPI Notional Basket” shall mean a hypothetical account that initially contains
1,524,390 shares of LN Common Stock. Each time, if at all, that the Majority Sellers pay a
Claim for Damages pursuant to the provisions of Section 7.1 arising from a breach of a
representation or warranty, the CPI Notional Basket will be reduced by the number of shares
of LN Common Stock that has a then aggregate Market Value equal to the amount of such
payment. The number of shares of LN Common Stock in the CPI Notional Basket shall be
appropriately adjusted, from time to time, for stock splits, reverse splits, stock dividends
and other similar transactions affecting the of LN Common Stock.

“CPI Notional Basket Value Amount” shall mean, as of any time, the aggregate Market
Value of all shares of LN Common Stock in the CPI Notional Basket at such time;
provided, however, if a Notional Cash Out Event should ever occur, then the CPI
Notional Basket Value Amount shall thereafter be equal to, as of any time, the amount
determined as follows:

(i) the aggregate value, determined as of the date of such Notional Cash Out
Event, of the consideration that would have been received in such Notional Cash Out
Event by a hypothetical shareholder that owned the same number of shares of Buyer
Common Stock that are in the CPI Notional Basket at the time of the Notional Cash
Out Event; minus

(ii) the aggregate of all amounts paid by Sellers or Cohl on or after the date
of the Notional Cash Out Event in respect of Claims for Damages pursuant to the
provisions of Section 7.1 arising from a breach of a representation or warranty
made.

“Encumbrances” means liens, charges, pledges, options, mortgages, deeds of trust,
security interests, claims, restrictions (whether on voting, sale, transfer, disposition or
otherwise), licenses, sublicenses, easements and other encumbrances of every type and
description, whether imposed by law, agreement, understanding or otherwise.

“Environmental Laws” shall mean all treaties, conventions or federal, state or local
laws relating to health, safety or the environment, including, without limitation, the
Comprehensive Environmental Response, Compensation and Liability Act, the Hazardous Material
Transportation Act, the Solid Waste Disposal Act, as amended by the Resource Conservation
and Recovery Act, the Clean Air Act, the Clean Water Act, the Toxic Substances Control Act,
the National Environmental Policy Act, the Oil Pollution Act and the Occupational Safety and
Health Act, as these treaties, conventions or laws have been amended or supplemented, and
any regulations promulgated pursuant thereto.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

“GAAP” means generally accepted accounting principles as in effect on the date of this
Agreement.

“Governmental Entity” means any court or tribunal in any jurisdiction (domestic or
foreign) or any public, governmental or regulatory body, agency, department, commission,
board, bureau or other authority or instrumentality (domestic or foreign).

“Hazardous Substances” means any substance classified under Environmental Laws as
hazardous, toxic, pollutants or contaminants, including without limitation, friable asbestos
and polychlorinated biphenyls.

“Intellectual Property” means patents, trademarks, service marks, trade names,
copyrights, trade secrets, know-how, inventions, and similar rights, and all registrations,
applications, licenses and rights with respect to any of the foregoing.

“IRS” means the Internal Revenue Service.

“Knowledge of the Majority Sellers” means the actual knowledge of Cohl, Gary Moss, Mark
Norman or Jonathan Linden after reasonable inquiry.

“LN Common Stock” shall mean the common stock of Buyer Parent, par value $.01 per
share.

“LN Notional Basket” shall mean a hypothetical account that initially contains
1,524,390 shares of LN Common Stock. Each time, if at all, that Buyer Group pays a Claim
for Damages pursuant to the provisions of Section 7.2 arising from a breach of a
representation or warranty, the LN Notional Basket will be reduced by the number of shares
of LN Common Stock that has a then aggregate Market Value equal to the amount of such
payment. The number of shares of LN Common Stock in the LN Notional Basket shall be
appropriately adjusted, from time to time, for stock splits, reverse splits, stock dividends
and other similar transactions affecting the LN Common Stock.

“LN Notional Basket Value Amount” shall mean, as of any time, the aggregate Market
Value of all shares of LN Common Stock in the LN Notional Basket at such time; provided,
however, if a Notional Cash Out Event should ever occur, then the LP Notional Basket
Value Amount shall thereafter be equal to, as of any time, the amount determined as follows:

(i) the aggregate value, determined as of the date of such Notional Cash Out
Event, of the consideration that would have been received in such Notional Cash Out
Event by a hypothetical shareholder that owned the same number of shares of Buyer
Common Stock that are in the LN Notional Basket at the time of the Notional Cash Out
Event;

(ii) the aggregate of all amounts paid by Buyer Group on or after the date of
the Notional Cash Out Event in respect of Claims for Damages pursuant to the
provisions of Section 7.2 arising from a breach of a representation or warranty
made.

“Market Value” shall mean, as of any date, the average closing share price of LN Common
Stock over the three trading days immediately preceding such date in the New York Stock
Exchange (or, if LN Common Stock is no longer listed on the New York Stock Exchange, such
other national exchange (or NASDAQ) on which it is so listed, and if LN Common Stock is not
so listed, the fair market value of a share of LN Common Stock shall be determined in good
faith by the Buyer Parent’s board of directors).

“Material Adverse Effect” means a material adverse effect on the assets, business,
financial condition or results of operations of the CPI Companies taken as a whole other
than any effect relating the transactions contemplated by this Agreement.

“Notional Cash Out Event” shall mean any merger, tender offer, exchange offer,
consolidation or similar transaction that results in the shares of LN Common Stock being
transferred or exchanged for cash, securities of an issuer other than Buyer Parent or some
combination of cash and securities of an issuer other than Buyer Parent.

“Permits” means licenses, permits, franchises, consents, approvals and other
authorizations of or from Governmental Entities.

“Permitted Dividends” shall have the meaning assigned to such term in Section 1(n) of
that certain Credit Agreement dated May 26, 2006 and entered into by and among Buyer, as
lender, Buyer Parent, as lender guarantor, and the Companies, as borrowers.

“Permitted Encumbrances” means (a) Encumbrances for Taxes not yet due and payable; (b)
mechanics’, materialmans’, suppliers’, vendors’ or similar Encumbrances arising in the
ordinary course of business securing amounts which are not delinquent and for which adequate
reserves are kept on the financial statements and books and records of the appropriate
Person; (c) Encumbrances created pursuant to equipment leases entered into in the ordinary
course of business which encumber the property which is the subject of the lease to the
extent such leases are properly described on Schedule 3.1(f)(ii); (d) Encumbrances
for liens (other than for liens for borrowed money or other Debt) that do not, individually
or in the aggregate, materially reduce the usefulness or value to the CPI Companies of the
encumbered asset; and (e) with respect to contracts, agreements or instruments, the rights
of the other parties thereto to the extent that such have been disclosed on the Schedules to
this Agreement if required to be so disclosed.

“Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, enterprise, unincorporated organization or Governmental Entity.

“Prior Lockup Agreement” shall mean that certain Lockup and Registration Rights
Agreement dated May 26, 2006 and entered into in connection with and as contemplated by the
Prior Purchase Agreement.

“Prior Purchase Agreement” shall mean that certain Stock Purchase Agreement dated
May 26, 2006 and entered into among the same parties to this Agreement whereby Buyer
purchased the Existing Live Nation Equity Interests.

“Proceedings” means all proceedings, actions, claims, suits, investigations and
inquiries by or before any arbitrator or Governmental Entity.

“Securities Act” means the Securities Act of 1933, as amended.

“Seller Representative” shall mean the Seller Representative appointed pursuant to
Section 8.13 from time to time (the initial Seller Representative being Cohl).

“Sellers Disclosure Schedules” means the Schedules which are made a part of Section 3.1
and Schedule 6.5.

“Subsidiary” means any corporation more than fifty percent (50%) of whose outstanding
voting securities, or any partnership, joint venture, or other entity more than fifty
percent (50%) of whose total equity interests is owned, directly or indirectly, by the
Company, but shall exclude any Entertainment Investment.

“Taxes” means any income taxes or similar assessments or any sales, value-added excise,
occupation, use, ad valorem, property, production, severance, transportation, employment,
payroll, franchise, import or custom duties or taxes or other tax imposed by any United
States federal, state or local (or any foreign or provincial) taxing authority, including
any interest, penalties or additions attributable thereto.

“Tax Return” means any return or report, including any related or supporting
information, with respect to Taxes.

“Treasury Regulations” means one or more treasury regulations promulgated under the
Code by the Treasury Department of the United States.

9.2 Certain Additional Defined Terms. In addition to such terms as are defined in
Section 9.1, the following terms are used in this Agreement as defined in the Sections of this
Agreement referenced opposite such terms:

	 	 	 
	Defined Terms	 	Reference
	Agreement

	 	- Preamble
	Ancillary Agreement

	 	- Section 3.1(b)(i)
	Applicable Entertainment Businesses

	 	- Section 6.1(a)
	Arbitrating Accountant

	 	- Section 2.3(a)
	Buyer

	 	- Preamble
	Buyer Affiliated Group

	 	- Section 6.1(a)(i)
	Buyer Group

	 	- Preamble
	Buyer Indemnified Parties

	 	- Section 7.1(a)
	Claim

	 	- Section 7.3(a)
	Closing

	 	- Section 2.1
	Closing Date

	 	- Section 2.1
	Cohl

	 	- Preamble
	Cohl Relationship Goodwill

	 	- Section 6.1(b)(i)
	Cohl Services Agreement

	 	- Section 1.2
	Companies

	 	- Preamble
	Content 2005

	 	- Preamble
	Content 2006

	 	- Preamble
	Contesting Party

	 	- Section 2.3(b)
	CPI Companies

	 	- Recital 3
	CPI Intellectual Property

	 	- Section 3.1(i)
	CPI Permits

	 	- Section 3.1(f)(iii)
	Damages

	 	- Section 7.1(a)
	Debt

	 	- Section 3.1(d)(ii)
	Disclosed Liabilities

	 	- Section 3.1(d)(i)
	Dispute

	 	- Section 8.11
	Disputing Parties

	 	- Section 8.11
	Dividend Disputing Parties

	 	- Section 2.3(c)
	Entertainment Agreements

	 	- Section 3.1(b)(iii)
	Entertainment Events

	 	- Section 3.1(b)(iii)
	Entertainment Investments

	 	- Section 3.1(b)(iii)
	Equity Interests

	 	- Section 3.1(b)(iv)
	Existing Live Nation Equity Interests

	 	- Recitals
	Grand

	 	- Preamble
	Grand ROW

	 	- Preamble
	Grand Seller

	 	- Premable
	Indemnified Party

	 	- Section 7.3(a)
	Indemnifying Party

	 	- Section 7.3(a)
	KSC

	 	- Section 1.2
	LN SEC Documents

	 	- Section 3.2(f)
	Lockup Agreement

	 	- Section 3.3(e)
	Majority Sellers

	 	- Preamble
	Material Contracts

	 	- Section 3.1(f)(i)
	Minor Contracts

	 	- Section 3.1(f)(i)
	Minority Seller Shares

	 	- Section 2.2(a)
	Minority Sellers

	 	- Preamble
	Non-Compete Covenant

	 	- Section 6.1(b)
	Non-Contesting Party

	 	- Section 2.3(b)
	Notice of Disagreement

	 	- Section 2.3(c)
	Parties

	 	- Preamble
	Permitted Dividends Statement

	 	- Section 2.3(b)
	Purchased Interests

	 	- Section 1.1
	Real Estate

	 	- Section 3.1(f)(ii)
	Real Estate Leases

	 	- Section 3.1(f)(ii)
	Released Shares

	 	- Section 1.5
	Restricted Activities

	 	- Section 6.1(a)
	Restricted Period

	 	- Section 6.1(a)
	Restrictive Covenants

	 	- Section 6.1(d)
	ROW Tour

	 	- Preamble
	Samco

	 	- Preamble
	SEC

	 	- Section 3.2(f)
	Sellers

	 	- Preamble
	Threshold Amount

	 	- Section 7.4(d)
	Threshold Items

	 	- Section 7.4(d)
	Tour

	 	- Preamble
	Trade Secrets

	 	- Section 6.1(b)(i)
	Transaction Shares

	 	- Section 2.2
	Trustee

	 	- Section 2.2(b)
	Trust Agreement

	 	- Section 2.2(b)
	Trust Certificates

	 	- Section 2.2(b)
	Trust Property

	 	- Section 6.1(b)(viii)
	Trust Shares

	 	- Section 2.2(b)
	Unlocked Shares

	 	- Section 7.4(e)
	USA Tour

	 	- Preamble

9.3 References. All references in this Agreement to Sections, paragraphs and other
subdivisions refer to the Sections, paragraphs and other subdivisions of this Agreement unless
expressly provided otherwise. The words “this Agreement”, “herein”, “hereof”, “hereby”,
“hereunder” and words of similar import refer to this Agreement as a whole and not to any
particular subdivision unless expressly so limited. Whenever the words “include”, “includes” and
“including” are used in this Agreement, such words shall be deemed to be followed by the words
“without limitation”. Each reference herein to a Schedule or Exhibit refers to the item identified
separately in writing by the Parties as the described Schedule or Exhibit to this Agreement. All
Schedules (but not Exhibits) are hereby incorporated in and made a part of this Agreement as if set
forth in full herein. All pronouns and any variations thereof refer to the masculine, feminine or
neuter, singular or plural, as the context may require. All terms defined in this Agreement in
their singular or plural forms have correlative meanings when used in their plural or singular
forms, respectively.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

5

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement on
the date first above written.

	 	 	 	 	 
	BUYER	 	LIVE NATION WORLDWIDE, INC.
	
 
	 	By: /s/
	 	Michael Rowles
	
 
	 	 
	 	 

	 	 	Name: Michael Rowles

Title: EVP and GC

	 	 	 	 	 
	BUYER PARENT	 	LIVE NATION, INC.
	
 
	 	By: /s/
	 	Michael Rowles
	
 
	 	 
	 	 

	 	 	Name: Michael Rowles

Title: EVP and GC

	 	 	 	 	 
	CORPORATE SELLERS	 	SAMCO INVESTMENTS LTD.
	
 
	 	By: /s/
	 	Christopher C. Morris
	
 
	 	 
	 	 

	 	 	Name: Christopher C. Morris

Title: Director

CONCERT PRODUCTIONS INTERNATIONAL, INC.

By: /s/ John H. Perkins

Name: John H. Perkins

Title: Director

	 	 	 	 	 
	COHL

	 	/s/ Michael Cohl
	 	

	 	 	 
	
 
	 	MICHAEL COHL
	 	

6

	 	 	 	 	 
	MINORITY SELLERS

(From Exhibit A)

	 	CHARLES ROSNER BRO

TRUST
	 	NFMAN FAMILY

	
 
	 	By: /s/
	 	Zeno Santache
	
 
	 	 
	 	 

	 	 	Name: Zeno Santache

Title: Authorized Representative

Each of ORION CAPITAL CORPORATION; THE ARTHUR
FOGEL/KALEEN LEMMON FAMILY TRUST; S. STEPHEN HOWARD;
GORDON CURRIE; GERALD BARAD; ROMPER HOLDINGS (USA)
LTD.; SURGE VENTURES INC.; D. MARK NORMAN; ERIC KERT;
and GARY MOSS; by their duly authorized attorney

Under power of attorney:

By: /s/ John H. Perkins

Name: John H. Perkins

Title: Attorney-in-Fact

7

	 	 	 	 	 
	COMPANIES	 	CPI ENTERTAINMENT CONTENT (2005), INC.
	
 
	 	By: /s/
	 	Gary Moss
	
 
	 	 
	 	 

	 	 	Name: Gary Moss

Title: COO

CPI ENTERTAINMENT CONTENT (2006), INC.

By: /s/ Gary Moss

Name: Gary Moss

Title: COO

CPI INTERNATIONAL TOURING INC.

By: /s/ John H. Perkins

Name: John H. Perkins

Title: Director/Secretary

CPI TOURING (USA), INC.

By: /s/ Gary Moss

Name: Gary Moss

Title: COO

GRAND ENTERTAINMENT (ROW), LLC

By: /s/ Gary Moss

Name: Gary Moss

Title: COO

8

Exhibit A

List of Other Sellers

1. Charles Rosner Bronfman Family Trust

2. Orion Capital Corporation

3. The Arthur Fogel/Kaleen Lemmon Family Trust

4. S. Stephen Howard

5. Gordon Currie

6. Gerald Barad

7. Romper Holdings (USA) Ltd.

8. Surge Ventures Inc.

9. D. Mark Norman

10. Eric Kert

11. Gary Moss

9

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