Document:

Exhibit
      10.4

    

    REGISTRATION
      RIGHTS AGREEMENT

    

    This
      Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of March 6, 2006 among The Tube Media Corp., a Delaware
      corporation (the “Company”),
      and
      Tribune Broadcasting Company (the “Holder”).

    

    The
      Company and the Holder hereby agree as follows:

    

    1.
      Definitions

    

    Capitalized
      terms used and not otherwise defined herein that are defined in the Letter
      Agreement or the Securities Issuance Agreement, each dated as of the date hereof
      and between the Company and the Holder shall have the meanings given such terms
      in such Letter Agreement or Securities Issuance Agreement. As used in this
      Agreement, the following terms shall have the following meanings:

    

    “Advice”
shall
      have the meaning set forth in Section 6(c).

    

    “Commission”
means
      the United States Securities and Exchange Commission.

    

    “Effectiveness
      Period”
shall
      have the meaning set forth in Section 2(a).

    

    “Holder”
means
      the holder or holders, as the case may be, from time to time of Registrable
      Securities.

    

    “Indemnified
      Party”
shall
      have the meaning set forth in Section 5(c) hereof.

    

    “Indemnifying
      Party”
shall
      have the meaning set forth in Section 5(c) hereof.

    

    “Losses”
shall
      have the meaning set forth in Section 5(a).

     

    “Proceeding”
means
      an action, claim, suit, investigation or proceeding (including, without
      limitation, an investigation or partial proceeding, such as a
      deposition).

     

    “Prospectus”
means
      the prospectus included in a Registration Statement (including, without
      limitation, a prospectus that includes any information previously omitted from
      a
      prospectus filed as part of an effective registration statement in reliance
      upon
      Rule 430A promulgated under the Securities Act), as amended or supplemented
      by
      any prospectus supplement, with respect to the terms of the offering of any
      portion of the Registrable Securities covered by a Registration Statement,
      and
      all other amendments and supplements to the Prospectus, including post-effective
      amendments, and all material incorporated by reference or deemed to be
      incorporated by reference in such Prospectus).

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Registrable
      Securities”
means
      all of the Shares and the Warrants issued pursuant to the Letter Agreement,
      all
      of the Warrant Shares issuable upon exercise of the Warrants, together with
      any
      shares of Common Stock issued to or issuable upon any stock split, dividend
      or
      other distribution, recapitalization or similar event with respect to the
      foregoing; provided,
      however,
      that
      any of the foregoing securities shall cease to be “Registrable Securities” to
      the extent (i) a Registration Statement with respect to their sale has been
      declared effective under the Securities Act and they have been disposed of
      pursuant to such Registration Statement, (ii) they have been distributed
      pursuant to Rule 144 (or any similar provision then in force) under the
      Securities Act, (iii) they shall have been otherwise transferred and
      (A) new certificates for them not bearing a legend restricting transfer
      under the Securities Act shall have been delivered by the Company and
      (B) such securities may be publicly resold (without volume or method of
      sale restrictions) without registration under the Securities Act, or
      (iv) such securities may be publicly resold (without volume or method of
      sale restrictions) without registration under the Securities Act pursuant to
      Rule 144(k) under the Securities Act (or any successor rule or regulation)
      (and
      with respect to Common Stock issuable upon exercise of the Warrants, assuming
      that such shares were acquired in a cashless exercise under the Warrant).

    

    “Registration
      Statement”
means
      any registration statement of the Company, including the Prospectus, amendments
      and supplements to such registration statement or Prospectus, including pre-
      and
      post-effective amendments, all exhibits thereto, and all material incorporated
      by reference or deemed to be incorporated by reference in such registration
      statement.

    

    “Rule
      415”
means
      Rule 415 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same purpose and
      effect as such Rule.

    

    “Rule
      424”
means
      Rule 424 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same purpose and
      effect as such Rule.

     

    “Shares”
means
      shares of common stock, par value $0.0001 of the Company, issued to the Holder
      pursuant to the Letter Agreement and Securities Issuance Agreement.

     

    “Trading
      Market”
means
      any exchange, NASDAQ or OTC Bulletin Board where the Company’s Common Stock is
      traded. 

    

    2.
      Piggy-Back
      Registration

    

    (a)
      If at
      any time there is not an effective Registration Statement covering all of the
      Registrable Securities and the Company shall determine to register any of its
      securities under the Securities Act and the registration form to be used may
      be
      used for the registration of Registrable Securities, other than a registration
      statement on Form S-4 or Form S-8 (each as promulgated under the Securities
      Act)
      or their then equivalents relating to equity securities to be issued solely
      in
      connection with any acquisition of any entity or business or equity securities
      issuable in connection with the stock option or other employee benefit plans,
      then the Company shall send to the Holder prompt written notice of such
      determination (which notice shall be given not less than 30 days prior to the
      date the registration statement is to be filed). If within 10 days after the
      date of such notice from the Company, the Holder shall so request in writing,
      subject to the provision of Sections 2(c) and 2(d) below, the Company shall
      include in such registration statement all or any part of such Registrable
      Securities the Holder requests to be registered. If the offering pursuant to
      such Registration Statement is not an underwritten offering, such written notice
      from the Holder shall contain (unless otherwise directed by the Holder) the
      “Plan
      of Distribution”
      substantially in the form attached hereto as Annex
      A.
      Subject
      to the terms of this Agreement, the Company shall use its commercially
      reasonable efforts to cause the Registration Statement to be declared effective
      under the Securities Act as promptly as possible after the filing thereof,
      and
      shall use its commercially reasonable efforts to keep such Registration
      Statement continuously effective under the Securities Act until all Registrable
      Securities covered by such Registration Statement have been sold or may be
      sold
      pursuant to Rule 144(k) as determined by the counsel to the Company pursuant
      to
      a written opinion letter to such effect, addressed and acceptable to the
      Company’s transfer agent and the affected Holders (the “Effectiveness
      Period”).
      The
      Company shall notify the Holder via facsimile of the effectiveness of the
      Registration Statement as soon as practicable after the Company receives
      notification of the effectiveness from the Commission. 

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (b)
      In
      order to be named a selling shareholder and have its Registrable Securities
      included in such Registration Statement, the Holder shall furnish to the Company
      a completed Questionnaire in the form attached to this Agreement as Annex B
      (a
“Selling
      Holder Questionnaire”)
      not
      less than ten days following receipt of notice from the Company pursuant to
      Section 2(a). Anything in this Agreement to the contrary notwithstanding, the
      Company shall be under no obligation to include in such Registration Statement
      the Registrable Securities of the Holder if the Holder has failed to complete
      and return a Selling Holder Questionnaire by such date.

    

    (c) In
      the
      event that the proposed registration by the Company is, in whole or in part,
      an
      underwritten public offering of securities of the Company or any holders of
      the
      Company’s securities, any request under Section 2(a) may specify that the
      Registrable Securities be included in the underwriting on the same terms and
      conditions as the shares of Common Stock, if any, otherwise being sold through
      underwriters under such registration and that such Registrable Securities
      represented by Warrants be converted into shares of Common Stock in order to
      effect such registration.

    

    (d) Notwithstanding
      the foregoing, if the managing underwriter of an underwritten public offering
      determines and advises in writing that the inclusion of all Registrable
      Securities proposed to be included in the underwritten public offering pursuant
      to this Agreement together with any other issued and outstanding shares of
      common stock proposed to be included (the “Other Shares”) would (i) create a
      substantial risk that the price per share in such registration will be
      materially and adversely affected or (ii) exceed the number which can be
      reasonably sold in such offering, then the number of Registrable Securities
      and
      Other Shares to be included in such underwritten public offering shall be
      reduced, the Registrable Securities and Other Shares shall be excluded from
      such
      underwritten public offering in a number deemed necessary by such managing
      underwriter. In the event an exclusion of Registrable Securities or Other Shares
      is necessary, Registrable Securities and Other Shares shall be included in
      the
      following order: (i) first, the shares represented by Registrable Securities;
      (ii) second, the Other Shares. To the extent all of the Registrable Securities
      requested to be included in the underwritten public offering can not be
      included, Holders of Registrable Securities shall participate in such offering
      pro rata based on the number of shares of Registrable Securities each Holder
      proposes to include pursuant to the notice provided to the Company under Section
      2(a) of this Agreement.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (e) All
      shares of Common Stock that are not included in the underwritten public offering
      shall be withheld from the market by the Holder for a period, not to exceed
      180
      days following an initial public offering and 90 days for any offering
      thereafter, that the managing underwriter reasonably determines as necessary
      in
      order to effect the underwritten public offering. The Holder shall execute
      such
      documentation as the managing underwriter reasonably requests to evidence this
      lock-up.

    

    3.
      Registration
      Procedures

    

    In
      connection with the Company's registration obligations hereunder, the Company
      shall:

    

    (a)  Not
      less
      than three Trading Days prior to the filing of a Registration Statement or
      any
      related Prospectus or any amendment or supplement thereto, that modifies in
      any
      material respect the information provided by the Holder for inclusion therein,
      the Company shall furnish to the Holder copies of all such documents proposed
      to
      be filed, which documents will be subject to the review of the
      Holder.

    

    (b)  (i)
      Prepare and file with the Commission such amendments, including post-effective
      amendments and supplements, to such Registration Statement and the Prospectus
      used in connection therewith as may be necessary to keep such Registration
      Statement continuously effective as to the applicable Registrable Securities
      for
      the Effectiveness Period; (ii) cause the related Prospectus to be amended or
      supplemented by any required Prospectus supplement, and as so supplemented
      or
      amended to be filed pursuant to Rule 424; (iii) respond as promptly as
      reasonably possible to any comments received from the Commission with respect
      to
      a Registration Statement or any amendment thereto; and (iv) comply in all
      material respects with the provisions of the Securities Act and the Exchange
      Act
      with respect to the disposition of all Registrable Securities covered by such
      Registration Statement during the applicable period in accordance (subject
      to
      the terms of this Agreement) with the intended methods of disposition by the
      Holder thereof (or the managing underwriter) set forth in such Registration
      Statement as so amended or in such Prospectus as so supplemented.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (c)  Notify
      the Holder of Registrable Securities to be sold or the managing underwriter
      (which notice shall, pursuant to clauses (ii) through (vi) hereof, be
      accompanied by an instruction to suspend the use of the Prospectus until the
      requisite changes have been made) as promptly as reasonably possible (and,
      in
      the case of (i)(A) below, not less than three Trading Days prior to such filing)
      and (if requested by any such Person) confirm such notice in writing no later
      than one Trading Day following the day (i)(A) when a Prospectus or any
      Prospectus supplement or post-effective amendment to a Registration Statement
      is
      proposed to be filed (except that if a filing is proposed for the purpose of
      adding a selling shareholder to the Registration Statement or changing or adding
      information with respect to a selling shareholder contained in the Registration
      Statement, such notice and proposed filing need only be sent to such selling
      shareholder); and (B) with respect to a Registration Statement or any
      post-effective amendment, when the same has become effective; (ii) of any
      request by the Commission or any other federal or state governmental authority
      for amendments or supplements to a Registration Statement or Prospectus or
      for
      additional information; (iii) of the issuance by the Commission or any other
      federal or state governmental authority of any stop order suspending the
      effectiveness of a Registration Statement covering any or all of the Registrable
      Securities or the initiation of any Proceedings for that purpose or the receipt
      of notice of or knowledge of the same; (iv) of the receipt by the Company of
      any
      notification with respect to the suspension of the qualification or exemption
      from qualification of any of the Registrable Securities for sale in any
      jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; (v) of the occurrence of any event or passage of time that makes the
      financial statements included in a Registration Statement ineligible for
      inclusion therein or any statement made in a Registration Statement or
      Prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      a
      Registration Statement, Prospectus or other documents so that, in the case
      of a
      Registration Statement or the Prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading; and
      (vi) the occurrence or existence of any pending corporate development with
      respect to the Company that the Company believes may be material and that,
      in
      the determination of the Company, makes it not in the best interest of the
      Company to allow continued availability of the Registration Statement or
      Prospectus; provided that any and all of such information shall remain
      confidential to the Holder until such information otherwise becomes public,
      unless disclosure by the Holder is required by law; provided,
      further,
      notwithstanding the Holder’s agreement to keep such information confidential,
      the Holder make no acknowledgement that any such information is material,
      non-public information. 

     

    (d)  Use
      its
      commercially reasonable efforts to avoid the issuance of, or, if issued, obtain
      the withdrawal of (i) any order suspending the effectiveness of a Registration
      Statement, or (ii) any suspension of the qualification (or exemption from
      qualification) of any of the Registrable Securities for sale in any
      jurisdiction, at the earliest practicable moment.

    

    (e)  Furnish
      to the Holder or the managing underwriter, without charge, at least one
      conformed copy of each such Registration Statement and each amendment thereto,
      including financial statements and schedules, all documents incorporated or
      deemed to be incorporated therein by reference to the extent requested by such
      Person, and all exhibits to the extent requested by such Person (including
      those
      previously furnished or incorporated by reference) promptly after the filing
      of
      such documents with the Commission.
 
      (f)  Promptly
        deliver to the Holder or the managing underwriter, without charge, as many
        copies of the Prospectus or Prospectuses (including each form of prospectus)
        and
        each amendment or supplement thereto as such Persons may reasonably request
        in
        connection with disposition of Registrable Securities. Subject to the terms
        of
        this Agreement, the Company hereby consents to the use of such Prospectus
        and
        each amendment or supplement thereto by the Holder or the managing underwriter
        in connection with the offering and sale of the Registrable Securities covered
        by such Prospectus and any amendment or supplement thereto, except after
        the
        giving of any notice pursuant to Section 3(c).

       

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
       

      (g)  Prior
        to
        any disposition of Registrable Securities, use its commercially reasonable
        efforts to register or qualify or cooperate with the Holder or the managing
        underwriter, as applicable, in connection with the registration or qualification
        (or exemption from the Registration or qualification) of such Registrable
        Securities under the securities or Blue Sky laws of such jurisdictions within
        the United States as the Holder or the managing underwriter reasonably requests
        in writing, to keep each registration or qualification (or exemption therefrom)
        effective during the Effectiveness Period and to do any and all other acts
        or
        things reasonably necessary to enable the disposition in such jurisdictions
        of
        the Registrable Securities covered by each Registration Statement; provided,
        that the Company shall not be required to qualify generally to do business
        in
        any jurisdiction where it is not then so qualified, subject the Company to
        any
        tax in any such jurisdiction where it is not then so subject or file a general
        consent to service of process in any such jurisdiction.

      

      (h)  If
        requested by the Holder or the managing underwriter, cooperate with the Holder
        or the managing underwriter to facilitate the timely preparation and delivery
        of
        certificates representing Registrable Securities to be delivered to a transferee
        pursuant to a Registration Statement. 

      

      (i)  Upon
        the
        occurrence of any event contemplated by clause (c)(ii) through (vi) of Section
        3, as promptly as reasonably possible under the circumstances taking into
        account the Company’s good faith assessment of any adverse consequences to the
        Company and its stockholders of the premature disclosure of such event, prepare
        a supplement or amendment, including a post-effective amendment, to the a
        Registration Statement or a supplement to the related Prospectus or any document
        incorporated or deemed to be incorporated therein by reference, and file
        any
        other required document so that, as thereafter delivered, neither a Registration
        Statement nor such Prospectus will contain an untrue statement of a material
        fact or omit to state a material fact required to be stated therein or necessary
        to make the statements therein, in light of the circumstances under which
        they
        were made, not misleading.  If
        the
        Company notifies the Holder or the managing underwriter in accordance with
        clauses (ii) through (v) of Section 3(c) above to suspend the use of any
        Prospectus until the requisite changes to such Prospectus have been made,
        then
        the Holder or the managing underwriter shall suspend use of such Prospectus.
        The
        Company will use its commercially efforts to ensure that the use of the
        Prospectus may be resumed as promptly as is practicable. The Company shall
        only
        be entitled to exercise its right under this Section 3(i) to suspend the
        availability of a Registration Statement and Prospectus for a period not
        to
        exceed 90 days (which need not be consecutive days) in any 12 month
        period.

       

      (j)  Comply
        with all applicable rules and regulations of the Commission.

    

    
 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
      (k)  The
        Company shall cause all such Registrable Securities included in a registration
        hereunder to be listed or authorized for quotation on each securities exchange
        or automated quotation system on which similar securities issued by the Company
        or then listed or quoted.

      

      (l)  The
        Company shall provide a transfer agent and registrar for all such Registrable
        Securities included in a registration hereunder not later than the effective
        date of the Registration Statement.

      

      (m)  The
        Company may require the Holder to furnish to the Company a certified statement
        as to the number of shares of Common Stock beneficially owned by the Holder
        and,
        if required by the Commission, the person thereof that has voting and
        dispositive control over the shares.

      

      4.
        Registration
        Expenses.
        All
        fees and expenses incident to the performance of or compliance with this
        Agreement by the Company shall be borne by the Company whether or not any
        Registrable Securities are sold pursuant to the Registration Statement. The
        fees
        and expenses referred to in the foregoing sentence shall include, without
        limitation, (i) all registration and filing fees (including, without limitation,
        fees and expenses (A) with respect to filings required to be made with the
        Trading Market on which the Common Stock is then listed for trading, and
        (B) in
        compliance with applicable state securities or Blue Sky laws reasonably agreed
        to by the Company in writing (including, without limitation, fees and
        disbursements of counsel for the Company in connection with Blue Sky
        qualifications or exemptions of the Registrable Securities and determination
        of
        the eligibility of the Registrable Securities for investment under the laws
        of
        such jurisdictions as requested by the Holder), (ii) printing expenses
        (including, without limitation, expenses of printing certificates for
        Registrable Securities and of printing prospectuses), (iii) messenger, telephone
        and delivery expenses, (iv) fees and disbursements of counsel for the Company,
        (v) Securities Act liability insurance, if the Company so desires such
        insurance, (vi) all fees and expenses of the underwriters (excluding any
        discounts and commissions attributable to Registrable Securities included
        in
        such registration) and (vii) fees and expenses of all other Persons retained
        by
        the Company in connection with the consummation of the transactions contemplated
        by this Agreement. In addition, the Company shall be responsible for all
        of its
        internal expenses incurred in connection with the consummation of the
        transactions contemplated by this Agreement (including, without limitation,
        all
        salaries and expenses of its officers and employees performing legal or
        accounting duties), the expense of any annual audit and the fees and expenses
        incurred in connection with the listing of the Registrable Securities on
        any
        securities exchange as required hereunder. .

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      5.
        Indemnification

      

      (a)
        Indemnification
        by the Company.
        The
        Company shall, notwithstanding any termination of this Agreement, indemnify
        and
        hold harmless the Holder, the officers, directors, agents, brokers, investment
        advisors and employees of each of them, each Person who controls the Holder
        (within the meaning of Section 15 of the Securities Act or Section 20 of
        the
        Exchange Act) and the officers, directors, agents and employees of each such
        controlling Person, to the fullest extent permitted by applicable law, from
        and
        against any and all losses, claims, damages, liabilities, costs (including,
        without limitation, reasonable attorneys' fees) and expenses (collectively,
        “Losses”),
        as
        incurred, arising out of or relating to any untrue or alleged untrue statement
        of a material fact contained in a Registration Statement, any Prospectus
        or any
        form of prospectus or in any amendment or supplement thereto or in any
        preliminary prospectus, or arising out of or relating to any omission or
        alleged
        omission of a material fact required to be stated therein or necessary to
        make
        the statements therein (in the case of any Prospectus or form of prospectus
        or
        supplement thereto, in light of the circumstances under which they were made)
        not misleading, except to the extent, but only to the extent, that (i) such
        untrue statements or omissions are based solely upon information regarding
        the
        Holder furnished in writing to the Company by the Holder expressly for use
        therein, or to the extent that such information relates to the Holder or
        the
        Holder's proposed method of distribution of Registrable Securities and was
        reviewed and expressly approved in writing by the Holder expressly for use
        in a
        Registration Statement, such Prospectus or such form of Prospectus or in
        any
        amendment or supplement thereto (it being understood that the Holder has
        approved Annex A hereto for this purpose, if applicable) or (ii) in the case
        of
        an occurrence of an event of the type specified in Section 3(c)(ii)-(vi),
        the
        use by the Holder of an outdated or defective Prospectus after the Company
        has
        notified the Holder in writing that the Prospectus is outdated or defective
        and
        prior to the receipt by the Holder of the Advice contemplated in Section
        6(c).
        The Company shall notify the Holder promptly of the institution, threat or
        assertion of any Proceeding arising from or in connection with the transactions
        contemplated by this Agreement of which the Company is aware.

    

     

    (b)
      Indemnification
      by Holders.
      The
      Holder shall, severally and not jointly, indemnify and hold harmless the
      Company, its directors, officers, agents and employees, each Person who controls
      the Company (within the meaning of Section 15 of the Securities Act and Section
      20 of the Exchange Act), and the directors, officers, agents or employees of
      such controlling Persons, to the fullest extent permitted by applicable law,
      from and against all Losses, as incurred, to the extent arising out of or based
      solely upon: (x) the Holder’s failure to comply with the prospectus delivery
      requirements of the Securities Act or (y) any untrue or alleged untrue statement
      of a material fact contained in any Registration Statement, any Prospectus,
      or
      any form of prospectus, or in any amendment or supplement thereto or in any
      preliminary prospectus, or arising out of or relating to any omission or alleged
      omission of a material fact required to be stated therein or necessary to make
      the statements therein not misleading (i) to the extent, but only to the extent,
      that such untrue statement or omission is contained in any information so
      furnished in writing by the Holder to the Company specifically for inclusion
      in
      such Registration Statement or such Prospectus or (ii) to the extent that (1)
      such untrue statements or omissions are based solely upon information regarding
      the Holder furnished in writing to the Company by the Holder expressly for
      use
      therein, or to the extent that such information relates to the Holder or the
      Holder's proposed method of distribution of Registrable Securities and was
      reviewed and expressly approved in writing by the Holder expressly for use
      in
      the Registration Statement (it being understood that the Holder has approved
      Annex A hereto for this purpose, as applicable), such Prospectus or such form
      of
      Prospectus or in any amendment or supplement thereto or (2) in the case of
      an
      occurrence of an event of the type specified in Section 3(c)(ii)-(vi), the
      use
      by the Holder of an outdated or defective Prospectus after the Company has
      notified the Holder in writing that the Prospectus is outdated or defective
      and
      prior to the receipt by the Holder of the Advice contemplated in Section 6(d).
      In no event shall the liability of the Holder hereunder be greater in amount
      than the dollar amount of the net proceeds received by the Holder upon the
      sale
      of the Registrable Securities giving rise to such indemnification
      obligation.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    (c)
      Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      hereunder (an “Indemnified
      Party”),
      such Indemnified Party shall promptly notify the Person from whom indemnity
      is
      sought (the “Indemnifying
      Party”)
      in
      writing, and the Indemnifying Party shall have the right to assume the defense
      thereof, including the employment of counsel reasonably satisfactory to the
      Indemnified Party and the payment of all fees and expenses incurred in
      connection with defense thereof; provided, that the failure of any Indemnified
      Party to give such notice shall not relieve the Indemnifying Party of its
      obligations or liabilities pursuant to this Agreement, except (and only) to
      the
      extent that it shall be finally determined by a court of competent jurisdiction
      (which determination is not subject to appeal or further review) that such
      failure shall have prejudiced the Indemnifying Party.

    

    An
      Indemnified Party shall have the right to employ separate counsel in any such
      Proceeding and to participate in the defense thereof, but the fees and expenses
      of such counsel shall be at the expense of such Indemnified Party or Parties
      unless: (1) the Indemnifying Party has agreed in writing to pay such fees and
      expenses; (2) the Indemnifying Party shall have failed promptly to assume the
      defense of such Proceeding and to employ counsel reasonably satisfactory to
      such
      Indemnified Party in any such Proceeding; or (3) the named parties to any such
      Proceeding (including any impleaded parties) include both such Indemnified
      Party
      and the Indemnifying Party and counsel to the Indemnifying Party shall advise
      the Indemnifying Party that representation of both the Indemnified Party and
      the
      Indemnifying Party would be prohibited under applicable rules of professional
      conduct due to material conflicts of interest between the Indemnified Party
      and
      the Indemnifying Party, in which case of clause (1), (2) or (3), if such
      Indemnified Party notifies the Indemnifying Party in writing that it elects
      to
      employ separate counsel at the expense of the Indemnifying Party, the
      Indemnifying Party shall not have the right to assume the defense thereof and
      the reasonable fees and expenses of one separate counsel shall be at the expense
      of the Indemnifying Party; provided, however, that if the Company is the
      Indemnifying Party, it shall not be responsible for the reasonable fees and
      expenses of more than one counsel for all of the Holder and their related
      Indemnifying Parties, which counsel shall be selected by the Holder holding
      a
      majority of the Registrable Securities that are the basis of the Proceeding
      for
      which indemnification is sought. The Indemnifying Party shall not be liable
      for
      any settlement of any such Proceeding effected without its written consent,
      which consent shall not be unreasonably withheld. No Indemnifying Party shall,
      without the prior written consent of the Indemnified Party, effect any
      settlement of any pending Proceeding in respect of which any Indemnified Party
      is a party, unless such settlement includes an unconditional release of such
      Indemnified Party from all liability on claims that are the subject matter
      of
      such Proceeding.

     

    (d)
      Contribution.
      If a
      claim for indemnification under Section 5(a) or 5(b) is unavailable to an
      Indemnified Party (other than because such indemnification is not available
      by
      the terms of such Sections), then each Indemnifying Party, in lieu of
      indemnifying such Indemnified Party, shall contribute to the amount paid or
      payable by such Indemnified Party as a result of such Losses, in such proportion
      as is appropriate to reflect the relative fault of the Indemnifying Party and
      Indemnified Party in connection with the actions, statements or omissions that
      resulted in such Losses as well as any other relevant equitable considerations.
      The relative fault of such Indemnifying Party and Indemnified Party shall be
      determined by reference to, among other things, whether any action in question,
      including any untrue or alleged untrue statement of a material fact or omission
      or alleged omission of a material fact, has been taken or made by, or relates
      to
      information supplied by, such Indemnifying Party or Indemnified Party, and
      the
      parties' relative intent, knowledge, access to information and opportunity
      to
      correct or prevent such action, statement or omission. The amount paid or
      payable by a party as a result of any Losses shall be deemed to include, subject
      to the limitations set forth in this Agreement, any reasonable attorneys' or
      other reasonable fees or expenses incurred by such party in connection with
      any
      Proceeding to the extent such party would have been indemnified for such fees
      or
      expenses if the indemnification provided for in this Section was available
      to
      such party in accordance with its terms.

    

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 5(d) were determined by pro rata allocation or by
      any
      other method of allocation that does not take into account the equitable
      considerations referred to in the immediately preceding paragraph.
      Notwithstanding the provisions of this Section 5(d), the Holder shall not be
      required to contribute, in the aggregate, any amount in excess of the amount
      by
      which the proceeds actually received by the Holder from the sale of the
      Registrable Securities subject to the Proceeding exceeds the amount of any
      damages that the Holder has otherwise been required to pay by reason of such
      untrue or alleged untrue statement or omission or alleged omission, except
      in
      the case of fraud by the Holder.

    

    The
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that the Indemnifying Parties may have to the Indemnified
      Parties.

    

    6.
      Miscellaneous.

    

    (a)  Remedies.
      In the
      event of a breach by the Company or by the Holder, of any of their obligations
      under this Agreement, the Holder or the Company, as the case may be, in addition
      to being entitled to exercise all rights granted by law and under this
      Agreement, including recovery of damages, will be entitled to specific
      performance of its rights under this Agreement. The Company and the Holder
      agree
      that monetary damages would not provide adequate compensation for any losses
      incurred by reason of a breach by it of any of the provisions of this Agreement
      and hereby further agrees that, in the event of any action for specific
      performance in respect of such breach, it shall waive the defense that a remedy
      at law would be adequate.

    

    (b)  Compliance.
      The
      Holder covenants and agrees that it will comply with the prospectus delivery
      requirements of the Securities Act as applicable to it in connection with sales
      of Registrable Securities pursuant to the Registration Statement.

    

    (c)  Discontinued
      Disposition.
      The
      Holder agrees by its acquisition of such Registrable Securities that, upon
      receipt of a notice from the Company of the occurrence of any event of the
      kind
      described in Section 3(c), the Holder will forthwith discontinue disposition
      of
      such Registrable Securities under a Registration Statement until the Holder’s
      receipt of the copies of the supplemented Prospectus and/or amended Registration
      Statement, or until it is advised in writing (the “Advice”)
      by the
      Company that the use of the applicable Prospectus may be resumed, and, in either
      case, has received copies of any additional or supplemental filings that are
      incorporated or deemed to be incorporated by reference in such Prospectus or
      Registration Statement. 

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    (d)  Amendments
      and Waivers.
      The
      provisions of this Agreement, including the provisions of this sentence, may
      not
      be amended, modified or supplemented, and waivers or consents to departures
      from
      the provisions hereof may not be given, unless the same shall be in writing
      and
      signed by the Company and the Holder of the then outstanding Registrable
      Securities. Notwithstanding the foregoing, a waiver or consent to depart from
      the provisions hereof with respect to a matter that relates exclusively to
      the
      rights of the Holder and that does not directly or indirectly affect the rights
      of other Holders may be given by the Holder of all of the Registrable Securities
      to which such waiver or consent relates; provided,
      however,
      that
      the provisions of this sentence may not be amended, modified, or supplemented
      except in accordance with the provisions of the immediately preceding sentence.
      

    

    (e)  Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earliest of (i) the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile number set forth on the signature
      pages attached hereto prior to 4:00 p.m. (Eastern Time) on a Trading Day, (ii)
      the next Trading Day after the date of transmission, if such notice or
      communication is delivered via facsimile at the facsimile number set forth
      on
      the signature pages attached hereto on a day that is not a Trading Day or later
      than 4:00 p.m. (Eastern Time) on any Trading Day, (iii) the second Trading
      Day
      following the date of mailing, if sent by U.S. nationally recognized overnight
      courier service, or (iv) upon actual receipt by the party to whom such notice
      is
      required to be given. The address for such notices and communications shall
      be
      (a) if to the Holder, to it at 435 N. Michigan Avenue, Chicago, Illinois 60611
      (with a copy to its General Counsel at the same address) or to the registered
      address of the Holder as set forth in the books and records of the Company
      kept
      at the principal office of the Company, or (b) if to the Company, to it at
      1451
      West Cypress Creek Road Boulevard, Suite 300, Boca Raton, Florida 33309, with
      a
      copy to (which shall not constitute notice) to: Blank Rome LLP, 1200 N. Federal
      Highway, Suite 417, Boca Raton, Florida 33432.

    

    (f)  Successors
      and Assigns.
      This
      Agreement shall inure to the benefit of and be binding upon the successors
      and
      permitted assigns of each of the parties and shall inure to the benefit of
      the
      Holder. The Company may not assign its rights or obligations hereunder without
      the prior written consent of the Holder or Holders of the then-outstanding
      Registrable Securities. The Holder may assign its respective rights hereunder
      in
      the manner and to the Persons as permitted under this Agreement.

    

    (g)  No
      Inconsistent Agreements.
      Neither
      the Company nor any of its Subsidiaries has entered, as of the date hereof,
      nor
      shall the Company or any of its Subsidiaries, on or after the date of this
      Agreement, enter into any agreement with respect to its securities, that would
      have the effect of impairing the rights granted to the Holder in this Agreement
      or otherwise conflicts with the provisions hereof; provided, however that the
      foregoing shall not be deemed to prohibit the entrance into Registration Rights
      Agreements on substantially similar terms, but in no event superior, with other
      holders of the Company’s securities after the date hereof. 

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    (h)  Execution
      and Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and, all of which taken together
      shall constitute one and the same Agreement. In the event that any signature
      is
      delivered by facsimile transmission, such signature shall create a valid binding
      obligation of the party executing (or on whose behalf such signature is
      executed) the same with the same force and effect as if such facsimile signature
      were the original thereof.

    

    (i)  Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be determined with the provisions of the Letter
      Agreement and shall be governed by and construed in accordance with the laws
      of
      the State of Delaware. 

    

    (j)  Cumulative
      Remedies.
      The
      remedies provided herein are cumulative and not exclusive of any remedies
      provided by law.

    

    (k)  Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction to be invalid, illegal, void or unenforceable, the
      remainder of the terms, provisions, covenants and restrictions set forth herein
      shall remain in full force and effect and shall in no way be affected, impaired
      or invalidated, and the parties hereto shall use their commercially reasonable
      efforts to find and employ an alternative means to achieve the same or
      substantially the same result as that contemplated by such term, provision,
      covenant or restriction. It is hereby stipulated and declared to be the
      intention of the parties that they would have executed the remaining terms,
      provisions, covenants and restrictions without including any of such that may
      be
      hereafter declared invalid, illegal, void or unenforceable.

    

    (l)  Headings.
      The
      headings in this Agreement are for convenience of reference only and shall
      not
      limit or otherwise affect the meaning hereof.

    

    (m)  Independent
      Nature of Holder’s Obligations and Rights.
      The
      obligations of the Holder hereunder are several and not joint with the
      obligations of any other Holder hereunder, and no Holder shall be responsible
      in
      any way for the performance of the obligations of any other Holder hereunder.
      Nothing contained herein or in any other agreement or document delivered at
      any
      closing, and no action taken by the Holder pursuant hereto or thereto, shall
      be
      deemed to constitute the Holder as a partnership, an association, a joint
      venture or any other kind of entity, or create a presumption that the Holder
      are
      in any way acting in concert with respect to such obligations or the
      transactions contemplated by this Agreement. The Holder shall be entitled to
      protect and enforce its rights, including without limitation the rights arising
      out of this Agreement, and it shall not be necessary for any other Holder to
      be
      joined as an additional party in any proceeding for such purpose.

    

    (n) Compliance
      with Rule 144.
      The
      Company shall use commercially reasonable efforts to (i) make and keep public
      information available, as those terms are understood and defined in Rule 144
      of
      the Securities Act, and (ii) 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 (iii) if the Company is in compliance with (i) and (ii)
      of
      this subparagraph, then at the request of the Holder forthwith furnish to the
      Holder a written statement of compliance with the reporting requirements of
      the
      Securities Act as set forth in Rule 144 and make available to the Holder such
      information as will enable it to make sales pursuant to Rule 144.

     

    

    
      [SIGNATURE
        PAGE FOLLOWS]

       

       

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

    

    

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

     

    
      	 	 	 
	 	THE
              TUBE
              MEDIA CORP.
	 
 	 
 	 
 
	 	By:  	/s/ John
              W.
              Poling
	 	
              

              Name:
                John W. Poling

            
	 	
              Title:
                Chief Financial Officer

            

    

    
      	 	 	 
	 	TRIBUNE BROADCASTING
              COMPANY
	 
 	 
 	 
 
	 	By:  	/s/ John
              E.
              Reardon
	 	
              
Name: John
              E. Reardon
	 	
              Title: President

            

    

     

    
 

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    

    ANNEX
      A

    

    Plan
      of Distribution

     

    Each
      selling stockholder (the “Selling
      Stockholders”)
      of the
      common stock of The Tube Media Corp., a Delaware corporation (the “Company”),
      and
      any of their pledgees, assignees and successors-in-interest may, from time
      to
      time, sell any or all of their shares of common stock on the Trading Market
      or
      any other stock exchange, market or trading facility on which the shares are
      traded or in private transactions. These sales may be at fixed or negotiated
      prices. A Selling Stockholder may use any one or more of the following methods
      when selling shares:

     

    
      	·  	
              ordinary
                brokerage transactions and transactions in which the broker-dealer
                solicits purchasers;

            

    

     

    
      	·  	
              block
                trades in which the broker-dealer will attempt to sell the shares
                as agent
                but may position and resell a portion of the block as principal to
                facilitate the transaction;

            

    

     

    
      	·  	
              purchases
                by a broker-dealer as principal and resale by the broker-dealer for
                its
                account;

            

    

     

    
      	·  	
              an
                exchange distribution in accordance with the rules of the applicable
                exchange;

            

    

     

    
      	·  	
              privately
                negotiated transactions;

            

    

     

    
      	·  	
              settlement
                of short sales entered into after the date of this
                prospectus;

            

    

     

    
      	·  	
              broker-dealers
                may agree with the Selling Stockholders to sell a specified number
                of such
                shares at a stipulated price per
                share;

            

    

     

    
      	·  	
              a
                combination of any such methods of
                sale;

            

    

     

    
      	·  	
              through
                the writing or settlement of options or other hedging transactions,
                whether through an options exchange or otherwise;
                or

            

    

     

    
      	·  	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

    The
      Selling Stockholders may also sell shares under Rule 144 under the Securities
      Act of 1933, as amended (the “Securities
      Act”),
      if
      available, rather than under this prospectus.

     

    Broker-dealers
      engaged by the Selling Stockholders may arrange for other brokers-dealers to
      participate in sales. Broker-dealers may receive commissions or discounts from
      the Selling Stockholders (or, if any broker-dealer acts as agent for the
      purchaser of shares, from the purchaser) in amounts to be negotiated. Each
      Selling Stockholder does not expect these commissions and discounts relating
      to
      its sales of shares to exceed what is customary in the types of transactions
      involved.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    In
      connection with the sale of our common stock or interests therein, the Selling
      Stockholders may enter into hedging transactions with broker-dealers or other
      financial institutions, which may in turn engage in short sales of the common
      stock in the course of hedging the positions they assume. The Selling
      Stockholders may also sell shares of our common stock short and deliver these
      securities to close out their short positions, or loan or pledge the common
      stock to broker-dealers that in turn may sell these securities. The Selling
      Stockholders may also enter into option or other transactions with
      broker-dealers or other financial institutions or the creation of one or more
      derivative securities which require the delivery to such broker-dealer or other
      financial institution of shares offered by this prospectus, which shares such
      broker-dealer or other financial institution may resell pursuant to this
      prospectus (as supplemented or amended to reflect such
      transaction).

     

    The
      Selling Stockholders and any broker-dealers or agents that are involved in
      selling the shares may be deemed to be “underwriters” within the meaning of the
      Securities Act in connection with such sales. In such event, any commissions
      received by such broker-dealers or agents and any profit on the resale of the
      shares purchased by them may be deemed to be underwriting commissions or
      discounts under the Securities Act. Each Selling Stockholder has informed the
      Company that it does not have any agreement or understanding, directly or
      indirectly, with any person to distribute the common stock.

     

    The
      Company is required to pay certain fees and expenses incurred by the Company
      incident to the registration of the shares. The Company has agreed to indemnify
      the Selling Stockholders against certain losses, claims, damages and
      liabilities, including liabilities under the Securities Act. 

     

    Because
      Selling Stockholders may be deemed to be “underwriters” within the meaning of
      the Securities Act, they will be subject to the prospectus delivery requirements
      of the Securities Act. In addition, any securities covered by this prospectus
      which qualify for sale pursuant to Rule 144 under the Securities Act may be
      sold
      under Rule 144 rather than under this prospectus. Each Selling Stockholder
      has
      advised us that they have not entered into any agreements, understandings or
      arrangements with any underwriter or broker-dealer regarding the sale of the
      resale shares. There is no underwriter or coordinating broker acting in
      connection with the proposed sale of the resale shares by the Selling
      Stockholders.

     

    We
      agreed
      to keep this prospectus effective until the earlier of (i) the date on which
      the
      shares may be resold by the Selling Stockholders without registration and
      pursuant to Rule 144(k) under the Securities Act or any other rule of similar
      effect or (ii) all of the shares have been sold pursuant to the prospectus
      or
      Rule 144 under the Securities Act or any other rule of similar effect. The
      resale shares will be sold only through registered or licensed brokers or
      dealers if required under applicable state securities laws. In addition, in
      certain states, the resale shares may not be sold unless they have been
      registered or qualified for sale in the applicable state or an exemption from
      the registration or qualification requirement is available and is complied
      with.

     

    Under
      applicable rules and regulations under the Exchange Act, any person engaged
      in
      the distribution of the resale shares may not simultaneously engage in market
      making activities with respect to our common stock for a period of five business
      days prior to the commencement of the distribution. In addition, the Selling
      Stockholders will be subject to applicable provisions of the Exchange Act and
      the rules and regulations thereunder, including Regulation M, which may limit
      the timing of purchases and sales of shares of our common stock by the Selling
      Stockholders or any other person. We will make copies of this prospectus
      available to the Selling Stockholders and have informed them of the need to
      deliver a copy of this prospectus to each purchaser at or prior to the time
      of
      the sale.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    Annex
      B

     

    The
      Tube Media Corp.

     

    Selling
      Securityholder Notice and Questionnaire

     

    The
      undersigned beneficial owner of common stock, par value $0.0001 per share (the
      “Common
      Stock”),
      of
      The Tube Media Corp., a Delaware corporation (the “Company”),
      (the
“Registrable
      Securities”)
      understands that the Company has filed or intends to file with the Securities
      and Exchange Commission (the “Commission”)
      a
      registration statement on Form S-3 (the “Registration
      Statement”)
      for
      the registration and [sale pursuant to / and resale under Rule 415 of] the
      Securities Act of 1933, as amended (the “Securities
      Act”),
      of
      the Registrable Securities, in accordance with the terms of the Registration
      Rights Agreement, dated as of March 6, 2006 (the “Registration
      Rights Agreement”),
      among
      the Company and the Holder named therein. A copy of the Registration Rights
      Agreement is available from the Company upon request at the address set forth
      below. All capitalized terms not otherwise defined herein shall have the
      meanings ascribed thereto in the Registration Rights Agreement.

     

    In
      order
      to have Registrable Securities included in the Registration Statement (or a
      supplement or amendment thereto), this Selling Securityholder Notice and
      Questionnaire (“Selling Securityholder Questionnaire”) must be completed,
      executed and delivered to the Company at the address set forth herein for
      receipt on
      or before the dates required in the Registration Rights
      Agreement.
      Record
      or beneficial owners of Registrable Securities who do not properly complete,
      execute and return this Selling Securityholder Questionnaire by such dates
      [(i)]
      will not be named as selling securityholders in the Registration Statement
      [and
      (ii) may not use the Prospectus forming a part thereof for resales of
      Registrable Securities].

     

    Certain
      legal consequences arise from being named as a selling securityholder in the
      Registration Statement and the related prospectus. Accordingly, holders and
      beneficial owners of Registrable Securities are advised to consult their own
      securities law counsel regarding the consequences of being named or not being
      named as a selling securityholder in the Registration Statement and the related
      prospectus.

     

    NOTICE

     

    The
      undersigned beneficial owner (the “Selling Securityholder”) of Registrable
      Securities hereby elects to include the Registrable Securities owned by him/it
      and listed below in Item 3 (unless otherwise specified under such Item 3) in
      the
      Registration Statement. The undersigned, by signing and returning this Selling
      Securityholder Questionnaire, agrees to be bound with respect to such
      Registrable Securities by the terms and conditions of this Selling
      Securityholder Questionnaire and the Registration Rights Agreement, as if the
      undersigned Selling Securityholder were an original party thereto.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate and
      complete:

    

    QUESTIONNAIRE

     

    
      	
            	1.	
              Name.

            

    

    

      
        	 	(a) 	 	
                Full Legal Name of Selling Securityholder

                 

              
	 	 	 	
                

                
 
	 	
                (b)

              	 	
                Full
                  Legal Name of Registered Holder (if not the same as (a) above)
                  through
                  which Registrable Securities Listed in Item 3 below are held:

                 

              
	 	 	 	
                

                
 
	 	
                (c)

              	 	
                Full
                  Legal Name of Natural Control Person (which means a natural person
                  who
                  directly or indirectly alone or with others has power to vote or
                  dispose
                  of the securities covered by the
                  questionnaire):

              

      

       

      
        	
              	2.	
                Address
                  for Notices to Selling
                  Securityholder:

              

      

      

        
          	 	Telephone:
	 	 
	 	Email:	 	
                
	 	
                  Fax:
                    

                	 	
                   

                
	 	Contact
                  Person: 	 	
                
	 	
                   

                	 	
                   

                

        

         

        
          
            	
                  	3.	
                    Beneficial
                      Ownership of Securities:

                  

          

          
            	 	 	 

          

          
            	 	 	Except as set forth below in
                    this Item (3),
                    the undersigned Selling Securityholder does not beneficially
                    own any
                    securities or shares of Common Stock issued upon conversion of
                    any
                    securities.

          

           

            
              
                	 	(a) 	 	
                        Number
                          of Registrable Securities (as defined in the Registration
                          Rights
                          Agreement) beneficially owned: 

                         

                      
	 	 	 	
                        

                        
 

              

              
                	 	
                         

                      	 	
                        Number
                          of shares of Common Stock (if any) issued upon conversion
                          of
                          securities:

                      

              

               

               

              
                
                  
                  

                

                
                  17

                  
                    

                  

                

                
                  
                  

                

              

               

              
                	 	 	 	
                      
	 	
                        
                          (b)

                        

                      	 	
                        
                          Number
                            of securities other than Registrable Securities beneficially
                            owned:

                           

                        

                      

              

            

          

        

        
          
            	 	 	 	
                    

                    

                  
	 	
                    
                       

                    

                  	 	
                    
                      Number
                        of shares of Common Stock (if any) issued upon conversion
                        of such other
                        securities:

                       

                    

                  
	 	 	 	
                    

                  
	 	
                    (c)

                  	 	
                    Number
                      of Registrable Securities to be included in the Registration
                      Statement:

                     

                  
	 	 	 	
                    

                    

                  
	 	 	 	Number
                    of shares of
                    Common Stock (if any) issued upon conversion of Registrable Securities
                    which are to be included in the Registration Statement:
	 	 	 	 
	 	
                    (d)

                  	 	
                    Except
                      as set forth above in this Item (3), the undersigned Selling
                      Securityholder is not the beneficial or record owner of any
                      shares of
                      Common Stock or any other security of the Company. 

                     

                  
	 	 	 	
                    

                    

                  
	
                    4.

                  	(a) 	 	State
                    whether the
                    undersigned Selling Securityholder has or will enter into “hedging
                    transactions” with respect to shares of Company Common
                    Stock.
	 	 	 	 
	 	 	 	Yes
o      
                    No o
	 	 	 	 
	 	 	 	
                    If yes, you must provide a complete description
                      of the
                      hedging transactions into which the undersigned Selling Securityholder
                      has
                      entered or will enter and the purpose of such hedging transactions,
                      the
                      extent to which such hedging transactions remain in place.

                     

                  
	 	 	 	
                    

                    

                  

          

          
             

          

        

      

    

    Please
      note that the SEC may deem short sales of securities covered by a registration
      statement prior to the effectiveness of such registration statement as a
      violation of Section 5 of the Securities Act. 

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    
      
        	 	 	 	
              
	 	
                
                  (b)

                

              	 	
                
                  
                    State
                      whether the undersigned Selling Securityholder has sold any
                      of the
                      Registrable Securities or shares of common stock of the Company
                      short
                      since the date of original issuance of the Registrable
                      Securities.

                  

                

              

      

      
        
          	 	 	 	
                
	 	 	 	Yes o      
                  No o
	 	 	 	 
	 	 	 	
                  If
                    yes, you must provide a complete description of the short sale,
                    including
                    the number of shares of common stock of the Company involved
                    and whether
                    the short position remains in place.

                   

                
	 	 	 	
                  

                  

                  

                  

                

        

         

        
          
            	
                  	5.	
                    Broker-Dealer
                      Status:

                  

          

          
            
              	 	 	 	 
	 	(a)	 	Are
                      you a
                      broker-dealer?
	 	 	 	 
	 	 	 	Yes
o      
                      No o
	 	 	 	 
	 	
                      Note:

                    	 	
                      If
                        yes, the Commission’s staff has indicated that you should be identified as
                        an underwriter in the Registration Statement.

                    
	 	 	 	 
	 	(b) 	 	Are
                      you an affiliate of
                      a broker-dealer?
	 	 	 	 
	 	 	 	Yes
o      
                      No o
	 	 	 	 
	 	
                      (c)

                    	 	
                      If
                        you are an affiliate of a broker-dealer, do you certify that
                        you bought
                        the Registrable Securities in the ordinary course of business,
                        and at the
                        time of the purchase of the Registrable Securities to be
                        resold, you had
                        no agreements or understandings, directly or indirectly,
                        with any person
                        to distribute the Registrable Securities?

                    
	 	 	 	 
	 	 	 	Yes
o      
                      No o
	 	 	 	 
	 	
                      
                        Note:

                      

                    	 	
                      If
                        no, the Commission’s staff has indicated that you should be identified as
                        an underwriter in the Registration Statement.

                    
	 	 	 	 
	 	
                      (d)

                    	 	
                      State
                        whether the undersigned Selling Securityholder received Registrable
                        Securities as compensation for underwriting activities and
                        please
                        explain.

                    
	 	 	 	 
	 	 	 	Yes
o      
                      No o
	 	 	 	 

                      

                      

                      

                    

            

            
               

              
                
                  
                  

                

                
                  19

                  
                    

                  

                

                
                  
                  

                

              

               

              
                
                  	
                        	6.	
                          Relationships
                            with the Company:

                        

                

                
                  	 	 	 

                

                
                  	 	 	Except as set forth
                          below, neither the
                          undersigned nor any of its affiliates, officers, directors
                          or principal
                          equity holders (owners of 5% of more of the equity securities
                          of the
                          undersigned) has held any position or office or has had
                          any other material
                          relationship with the Company (or its predecessors or affiliates)
                          during
                          the past three years.

                

                
                  	 	 	 

                

                
                  	 	 	
                          State any exceptions here:

                           

                        

                

                
                  	 	 	
                          

                          

                          

                          

                        

                

              

            

          

        

      

    

     

    By
      signing below, the Selling Securityholder acknowledges that it understands
      its
      obligation to comply, and agrees that it will comply, with the prospectus
      delivery and other provisions of the Securities Act and the Securities Exchange
      Act of 1934, as amended, and the rules and regulations thereunder, particularly
      Regulation M. 

     

    In
      the
      event that the Selling Securityholder transfers all or any portion of the
      Registrable Securities listed in Item (3) above after the date on which such
      information is provided to the Company (other than transfers of Registrable
      Securities pursuant to an effective Registration Statement), the Selling
      Securityholder agrees to notify the transferee(s) of its rights and obligations
      under this selling Securityholder Questionnaire and the Registration Rights
      Agreement.

     

    By
      signing below, the Selling Securityholder consents to the disclosure of the
      information contained herein in its answers to Items (1) through (6) above
      and
      the inclusion of such information in the Registration Statement and related
      Prospectus. The Selling Securityholder understands that such information will
      be
      relied upon by the Company in connection with the preparation of the
      Registration Statement and related Prospectus.

     

    In
      accordance with the Selling Securityholder's obligations under the Registration
      Rights Agreement to provide such information as may be required by law for
      inclusion in the Registration Statement, the Selling Securityholder agrees
      to
      promptly notify the Company of any inaccuracies or changes in the information
      provided herein which may occur subsequent to the date hereof at any time while
      the Registration Statement remains in effect (other than changes due to
      transfers of Registrable Securities pursuant to an effective Registration
      Statement and to provide any additional information as the Company reasonably
      may request. Except as otherwise provided in the Registration Rights Agreement,
      all notices hereunder and pursuant to the Registration Rights Agreement shall
      be
      made in writing, by hand-delivery, first-class mail, or air courier guaranteeing
      overnight delivery as follows:

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    To
      the
      Company:

    

      
        	 	
                The
                  Tube Media Corp.

                1451
                  West Cypress Creek Road

                Suite
                  300

                Boca
                  Raton, Florida 33309

                Attention:
                  David C. Levy, President

                

                With
                  a copy to:

                

                Blank
                  Rome LLP

                1200
                  N. Federal Highway, Suite 417

                Boca
                  Raton, Florida 33432

                Attn:
                  Bruce C. Rosetto, Esq. 

              	 

      

    

    

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the undersigned, by authority duly given, has caused this
      Selling Securityholder Questionnaire to be executed and delivered either in
      person or by its duly authorized agent.

     

    
      	 	 	 
	 	
              Selling
                Securityholder(Print/type full legal name of
                beneficial
                owner of Registrable Securities)

            
	 
 	 
 	 
 
	Date: 	By:  	 
	 	
              

              Name:

            
	 	
              Title:

            

    

    
 

    PLEASE
      RETURN THE COMPLETED AND EXECUTED SELLING SECURITYHOLDER QUESTIONNAIRE FOR
      RECEIPT ON OR BEFORE _____________, 2006 TO THE COMPANY AT:

    

      
        	 	
                The
                  Tube Media Corp.

                1451
                  West Cypress Creek Road

                Suite
                  300

                Boca
                  Raton, Florida 33309

                Attention:
                  David C. Levy

                

                With
                  a copy to:

                

                Blank
                  Rome LLP

                1200
                  N. Federal Highway, Suite 417

                Boca
                  Raton, Florida 33432

                Attn:
                  Bruce C. Rosetto, Esq. 

              	 

      

    

    

     

    
      
        
        

      

      
        22Exhibit
      10.5

    THE
      EXERCISE OF THIS WARRANT HAS NOT BEEN REGISTERED WITH THE SECURITIES AND
      EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THIS WARRANT
      MAY
      ONLY BE EXERCISED PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND APPLICABLE
      SECURITIES LAWS. AS A CONDITION PRECEDENT TO THE EXERCISE OF THIS WARRANT,
      THE
      COMPANY MAY REQUIRE SUCH CERTIFICATES AND OPINIONS OF COUNSEL AS IT REASONABLY
      DEEMS NECESSARY FROM THE PERSON EXERCISING THIS WARRANT TO ESTABLISH THE
      EXISTENCE OF SUCH EXEMPTIONS.

    

    NEITHER
      THIS SECURITY NOR THE SECURITY INTO WHICH THIS SECURITY IS EXERCISABLE HAVE
      BEEN
      REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
      COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
      THE SECURITIES ACT, AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
      TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
      TO
      AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
      APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL
      TO
      THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
      ACCEPTABLE TO THE COMPANY.

    

    

    COMMON
      STOCK PURCHASE WARRANT

    

    To
      Purchase [XXXXX]* 
      Shares
      of Common Stock of

    THE
      TUBE MEDIA CORP.

     

    
      
        	No. 2006-1 	  Date: March 6,
                2006

      
                          
                              

    THIS
      COMMON STOCK PURCHASE WARRANT (the “Warrant”)
      certifies that, for value received, Tribune Broadcasting Company, a Delaware
      corporation (the “Holder”),
      is
      entitled, upon the terms and subject to the limitations on exercise and the
      conditions hereinafter set forth, at any time, and from time to time, on or
      after the date hereof (the “Initial
      Exercise Date”)
      and on
      or prior to the close of business on the earlier of (i) the tenth anniversary
      of
      the issuance of the Initial Exercise Date, or (ii) the termination or expiration
      of the Charter Affiliation Agreement, including any renewal periods under the
      Charter Affiliation Agreement (such earlier date being referred to as the
“Termination
      Date”),
      but
      not thereafter, to subscribe for and purchase from The Tube Media Corp., a
      Delaware corporation (the “Company”),
      [XXXXX]* shares (subject to adjustment as provided herein) of Common Stock,
      par
      value $0.0001 per share, of the Company (the “Common
      Stock”).
      The
      purchase price of one share of Common Stock under this Warrant shall be equal
      to
      the Exercise Price, as defined in Section 2(b).

     

    _____________________
*
      Filed
      under an application for confidential treatment.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    Section
      1. Definitions.
      In
      addition to the terms defined elsewhere in this Warrant, the following terms
      have the meanings indicated in this Section 1.

     

    “Affiliate”
means
      any Person that, directly or indirectly through one or more intermediaries,
      controls or is controlled by or is under common control with a Person, as such
      terms are used in and construed under Rule 144 under the Securities Act.

     

    “Charter
      Affiliation Agreement”
means
      the Charter Affiliation Agreement dated as of March 6, 2006 entered into between
      the Holder and The TUBE Music Network, Inc.

     

    “Convertible
      Securities”
shall
      mean notes or other evidences of indebtedness, shares of stock, or other
      securities that are convertible into or exchangeable for, with or without
      payment of additional consideration in cash or property, shares of Common Stock,
      either immediately or upon the occurrence of a specified date or a specified
      event.

     

    “Current
      Market Price”
shall
      mean as of any specified date the average of the daily market prices of the
      Common Stock of the Company for the shorter of (x) the twenty (20)
      consecutive Trading Days immediately preceding such date or (y) the period
      commencing on the Trading Day next following the first public announcement
      of
      any event giving rise to an adjustment of the Exercise Price pursuant to Section
      4 below and ending on such date. The “daily market price” for each such Trading
      Day shall be: (i) if the Common Stock is then listed on a national
      securities exchange or is listed on NASDAQ and is designated as a National
      Market System security, the last sale price, regular way, on such day on the
      principal stock exchange or market system on which such Common Stock is then
      listed or admitted to trading, or, if no such sale takes place on such day,
      the
      average of the closing bid and asked prices for the Common Stock on such day
      as
      reported on such stock exchange or market system or (ii) if the Common
      Stock is not then listed or admitted to trading on any national securities
      exchange or designated as a National Market System security on NASDAQ but is
      traded over-the-counter, the average of the closing bid and asked prices for
      the
      Common Stock as reported on NASDAQ or the Electronic Bulletin Board or in the
      National
      Daily Quotation Sheets,
      as
      applicable.

     

    “Fair
      Value”
per
      share of Common Stock as of any specified date shall mean (i) if the Common
      Stock is publicly traded on such date, the Current Market Price per share or
      (ii) if the Common Stock is not publicly traded on such date, the fair market
      value per share of Common Stock as determined in good faith by the Board of
      Directors of the Company and set forth in a written notice to the Holder;
      provided, that if the Holder objects in writing to such price as determined
      by
      the Board of Directors within thirty (30) days after receiving notice of same,
      the Fair Value shall be determined by an investment bank selected by the Holder
      of nationally recognized standing and reasonably acceptable to the Company.
      If
      the investment bank selected by the Holder is not reasonably acceptable to
      the
      Company, and the Company and the Holder cannot agree on a mutually acceptable
      investment bank, then the Company and the Holder shall promptly each choose
      one
      such investment bank and the respective chosen firms shall jointly select a
      third investment bank, which shall make the determination as soon as reasonably
      practicable. The Company and the Holder shall each pay one-half of the costs
      and
      fees of each such investment bank (including any such investment bank selected
      by the Holder), and the decision of the investment bank making such
      determination shall be final and binding on the Company and all affected holders
      of Warrants or Warrant Stock.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Fully
      Diluted Outstanding”
shall
      mean, when used with reference to Common Stock, at any date as of which the
      number of shares thereof is to be determined, all shares of Common Stock
      Outstanding on such date and all shares of Common Stock issuable in respect
      of
      (x) the Warrants outstanding on such date, (y) any Convertible Securities
      outstanding on such date and (z) any other Stock Purchase Rights outstanding
      on
      such date, in each case regardless of whether or not the conversion, exchange,
      subscription or purchase rights associated with such Convertible Securities
      or
      Stock Purchase Rights are presently exercisable.

    

    “Holder”
shall
      mean the Person in whose name the Warrant set forth herein is registered on
      the
      books of the Company maintained for such purpose.

    

    “Original
      Issue Date”
shall
      mean the date on which the Original Warrants were issued, as set forth on the
      cover page of this Warrant.

    

    “Original
      Warrants”
shall
      mean the Warrants originally issued by the Company on the Original Issue Date
      to
      Holder.

    

    “Outstanding”
shall
      mean, when used with reference to Common Stock, at any date as of which the
      number of shares thereof is to be determined, all issued shares of Common Stock,
      except shares then owned or held by or for the account of the Company or any
      Subsidiary thereof, and shall include all shares issuable in respect of
      outstanding scrip or any certificates representing fractional interests in
      shares of Common Stock.

    

    “Person”
means
      an individual or corporation, partnership, trust, incorporated or unincorporated
      association, joint venture, limited liability company, joint stock company,
      government (or an agency or subdivision thereof) or other entity of any
      kind.

     

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

     

    “Stock
      Purchase Rights”
shall
      mean any options, warrants or other securities or rights to subscribe to or
      exercisable for the purchase of shares of Common Stock or Convertible
      Securities, whether or not immediately exercisable.

     

    “Subsequent
      Issuance”
shall
      mean any sale or issuance by the Company of Common Stock, Convertible Securities
      or Stock Purchase Rights after the Original Issue Date other than any issuance
      of Warrant Shares upon exercise of the Warrants, any Excluded Issuances, and
      any
      issuance of Common Stock, Convertible Securities or Stock Purchase Rights (and
      any issuance of Common Stock pursuant to the conversion, exchange or exercise
      of
      any such Convertible Securities or Stock Purchase Rights) deemed to have been
      issued as of the Original Issue Date pursuant to the definition of Fully Diluted
      Outstanding. For purpose of this Warrant, any shares issued to Holder or any
      of
      its Affiliates shall not be deemed a Subsequent Issuance.

    

    “Subsidiary”
means
      any corporation or association (a) more than 50% (by number of votes) of the
      voting stock of which is at the time owned by the Company or by one or more
      Subsidiaries, or any other business entity in which the Company or one or more
      Subsidiaries own more than a 50% interest either in the profits or capital
      of
      such business entity or (b) whose net earnings, or portions thereof, are
      consolidated with the net earnings of the Company and are recorded on the books
      of the Company for financial reporting purposes in accordance with
      GAAP.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    “Trading
      Day”
means
      a
      day during which trading in securities generally occurs on the Trading Market
      in
      which the Common Stock is then listed or traded.

     

    “Trading
      Market”
means
      the following markets or exchanges on which the Common Stock is listed or quoted
      for trading on the date in question: the OTC Bulletin Board, the Nasdaq SmallCap
      Market, the American Stock Exchange, the New York Stock Exchange or the Nasdaq
      National Market.

     

    “Transfer”
shall
      mean any disposition of any Warrant or Warrant Shares or of any interest in
      either thereof, which would constitute a “sale” thereof within the meaning of
      the Securities Act.

     

    “Warrants”
shall
      mean the Original Warrants and all warrants issued upon transfer, division
      or
      combination of, or in substitution for, such Original Warrants or any other
      such
      Warrant. All Warrants shall at all times be identical as to terms and conditions
      and date, except as to the number of shares of Common Stock for which they
      may
      be exercised.

     

    “Warrant
      Shares”
means
      the shares of Common Stock issued, issuable or both (as the context may require)
      upon exercise of the Warrants.

     

    Section
      2.     Exercise.

     

    (a)
      Exercise
      of Warrant.
      Exercise of the purchase rights represented by this Warrant may be made at
      any
      time or times, for all or any part of the number of shares of Common Stock
      purchasable hereunder, on or after the Initial Exercise Date and on or before
      the Termination Date by delivery to the Company (or such other office or agency
      of the Company as it may designate by notice in writing to the registered Holder
      at the address of such Holder appearing on the books of the Company) of: (i)
      the
      Notice of Exercise Form annexed hereto duly completed and executed; (ii) the
      aggregate Exercise Price of the shares thereby purchased paid in accordance
      with
      Section 2(c); (iii) the surrender of this Warrant; and (iv) payment of all
      taxes
      required to be paid by the Holder, if any, pursuant to Section 2(e)(vi); and
      (iv) the receipt of such certificates and other documents as reasonably may
      be
      required by the Company to determine that the exercise complies with applicable
      securities laws. The Trading Day on which the last of the foregoing deliveries
      is received by the Company is referred to as the “Exercise
      Date”;
      provided, however, that if the last of such deliveries is received after the
      close of trading on the Trading Market for the Common Stock, the Exercise Date
      shall be deemed to be the next Trading Day. This Warrant shall be deemed to
      have
      been exercised, the Warrant Shares shall be deemed to have been issued, and
      the
      Holder or any other person so designated to be named therein as the holder
      of
      the Warrant Shares shall be deemed to have become a holder of record of such
      shares for all purposes, as of the Exercise Date.

     

    (b)
      Exercise
      Price.
      The
      exercise price for each Warrant Share issuable under this Warrant shall be
      $2.25
      per share, subject to adjustment hereunder (the “Exercise
      Price”).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (c)
      Payment
      of Exercise Price:
      The
      Holder shall pay the aggregate Exercise Price at its option by one or more
      of
      the following methods (i) by wire transfer of immediately available United
      States funds or cashier’s check drawn on a United States bank or (ii) by
      instructing the Company to withhold a number Warrant Shares then issuable upon
      exercise of this Warrant with an aggregate Fair Value equal to such aggregate
      Exercise Price. In the event of any withholding of Warrant Stock pursuant to
      clause (ii) above where the number of shares whose Fair Value is equal to the
      aggregate Exercise Price is not a whole number, the number of shares withheld
      by
      or surrendered to the Company shall be rounded up to the nearest whole share
      and
      the Company shall make a cash payment to the Holder based on the incremental
      fraction of a share being so withheld by or surrendered to the Company in an
      amount determined in accordance with Section 2(d)(iv) hereof.

     

    (d)
      Mechanics
      of Exercise.
      

     

    i.      Authorization
      of Warrant Shares.
      The
      Company covenants that all Warrant Shares which may be issued upon the exercise
      of the purchase rights represented by this Warrant will, upon exercise of the
      purchase rights represented by this Warrant, be duly authorized, validly issued,
      fully paid and nonassessable and free from all taxes, liens and charges in
      respect of the issue thereof (other than taxes in respect of any transfer
      occurring contemporaneously with such issue). The Company covenants that during
      the period the Warrant is outstanding, it will reserve from its authorized
      and
      unissued Common Stock a sufficient number of shares to provide for the issuance
      of the Warrant Shares upon the exercise of any purchase rights under this
      Warrant. The Company further covenants that its issuance of this Warrant shall
      constitute full authority to its officers who are charged with the duty of
      executing stock certificates to execute and issue the necessary certificates
      for
      the Warrant Shares upon the exercise of the purchase rights under this Warrant.
      The Company will take all such reasonable action as may be necessary to assure
      that such Warrant Shares may be issued as provided herein without violation
      of
      any applicable law or regulation, or of any requirements of the Trading Market
      upon which the Common Stock may be listed.

     

    ii.      Delivery
      of Certificates Upon Exercise.
      Certificates for shares purchased hereunder shall be transmitted by the transfer
      agent of the Company to the Holder (A) by crediting the account of the Holder’s
      prime broker with the Depository Trust Company through its Deposit Withdrawal
      Agent Commission (“DWAC”)
      system, provided that (I) the Company is a participant in such system and (II)
      the DWAC system provides an adequate method of protecting against the transfer
      of the Warrant Shares in violation of the restrictions on transfer set forth
      herein, and (B) otherwise by depositing the certificate(s) representing the
      Warrant Shares with a nationally recognized overnight courier for delivery
      to
      the address specified by the Holder in the Notice of Exercise on the next
      Trading Day, in either event within three (3) Trading Days of the Exercise
      Date
      (“Warrant
      Share Delivery Date”).
      

     

    iii.      Delivery
      of New Warrants Upon Exercise.
      If this
      Warrant shall have been exercised in part, the Company shall, at the time of
      delivery of the certificate or certificates representing Warrant Shares, deliver
      to Holder a new Warrant evidencing the rights of Holder to purchase the
      unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
      in all other respects be identical with this Warrant.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    iv.      No
      Fractional Shares or Scrip.
      No
      fractional shares or scrip representing fractional shares shall be issued upon
      the exercise of this Warrant. As to any fraction of a share which Holder would
      otherwise be entitled to purchase upon such exercise, the Company shall pay
      a
      cash adjustment in respect of such final fraction in an amount equal to such
      fraction multiplied by (x) the Current Market Price of one share of Common
      Stock
      on the Exercise Date, if the Common Stock is then publicly traded or (ii) if
      the
      Common Stock is not then publicly traded, the fair market value per share of
      Common Stock as determined in good faith by the Board of Directors of the
      Company.

     

    v.      Charges,
      Taxes and Expenses.
      Issuance of certificates for Warrant Shares shall be made without charge to
      the
      Holder for any issue or transfer tax or other incidental expense in respect
      of
      the issuance of such certificate, all of which taxes and expenses shall be
      paid
      by the Company, and such certificates shall be issued in the name of the Holder
      or in such name or names as may be directed by the Holder; provided,
      however,
      that in
      the event certificates for Warrant Shares are to be issued in a name other
      than
      the name of the Holder, this Warrant when surrendered for exercise shall be
      accompanied by the Assignment Form attached hereto duly executed by the Holder;
      and the Company may require, as a condition thereto, the payment of a sum
      sufficient to reimburse it for any transfer tax incidental thereto.

     

    vi.      Closing
      of Books.
      The
      Company will not close its stockholder books or records in any manner which
      prevents the timely exercise of this Warrant, pursuant to the terms
      hereof.

     

    vii.      Continued
      Validity and Application.
      A
      holder of Warrant Shares issued upon the exercise of this Warrant, in whole
      or
      in part, including any transferee of such shares (other than a transferee in
      whose hands such shares no longer constitute Warrant Shares as defined herein),
      shall continue, with respect to such shares, to be entitled to all rights and
      to
      be subject to all obligations that are applicable to such holder by the terms
      of
      this Warrant; provided, however that any such transferee shall agree to be
      bound
      by all terms, conditions and obligations hereunder. The Company shall, at the
      time of any exercise of this Warrant or any transfer of Warrant Shares, upon
      the
      request of the holder of the Warrant Shares issued in connection with such
      exercise or transfer, acknowledge in writing, in a form reasonably satisfactory
      to such holder, its continuing obligation to afford to such holder such rights
      referred to in this Section 2(d)(vii); provided,
      however,
      that if
      such holder shall fail to make any such request, such failure shall not affect
      the continuing obligation of the Company to afford to such holder all such
      rights.

             

     (e)
      Compliance
      With Securities Laws.
      By
      acquiring this Warrant from Company on the date hereof, the Holder agrees,
      acknowledges, covenants, represents and warrants as follows:

     

    (i)
      This
      Warrant and the shares of Common Stock issuable upon exercise hereof have not
      been registered under the Securities Act, or qualified or registered under
      any
      state securities laws which may be applicable. Holder understands that this
      Warrant and such shares of Common Stock have been and will be issued and sold
      hereunder in transactions exempt from the registration or qualification
      requirements of the Securities Act and applicable state securities laws and
      Holder acknowledges that reliance on and the availability of said exemptions
      is
      predicated in part on the accuracy of Holder's representations and warranties
      herein. 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (ii)
      Holder represents and warrants that it is acquiring this Warrant for its own
      account, for purposes of investment, and not with a view to, or for sale in
      connection with, any distribution thereof within the meaning of the Securities
      Act and the rules and regulations promulgated thereunder. Holder represents,
      warrants and agrees that it will not sell, exercise, transfer or otherwise
      dispose of this Warrant (or any interest therein) or any of the Common Stock
      purchasable upon exercise hereof, except pursuant to (i) an effective
      registration statement under the Securities Act and applicable state securities
      laws or (ii) an opinion of counsel, reasonably satisfactory to Company, that
      an
      exemption from registration under the Securities Act and such laws is available.
      Holder understands that Company will be relying upon the truth and accuracy
      of
      the representations and warranties contained in this section in issuing this
      Warrant and such Common Stock without first registering the issuance thereof
      under the Securities Act or qualifying or registering the issuance thereof
      under
      any state securities laws that may be applicable. 

     

    (iii)
      Holder acknowledges that there is not a liquid public market for the Warrant,
      although there currently is a public trading market for the Common
      Stock,
      and
      there
      can be no assurance that any such market will be developed, and there can be
      no
      assurance that Holder will be able to liquidate its investment in Company.
      Holder represents and warrants that it is familiar with and understands the
      terms and conditions of Rule 144 promulgated under the Securities Act.

     

    (iv)
      Holder represents and warrants to Company that (x) it is an accredited investor
      as defined in Regulation D of the Rules and Regulations of the Securities and
      Exchange Commission; (y) it has such knowledge and experience in financial
      and
      business matters as is necessary to enable it to evaluate the merits and risks
      of any investments in Company and is not utilizing any other person to be a
      purchaser representative in connection with evaluation of such merits and risks;
      and (z) it has no need for liquidity in an investment in Company and is able
      to
      bear the risk of that investment for an indefinite period and to afford a
      complete loss thereof. 

     

    (v)
      Holder represents and warrants that it has had access to, and has been furnished
      with, all of the information it has requested from Company and has had an
      opportunity to review the books and records of Company and to discuss with
      management and members of the board of directors of Company the business and
      financial affairs of Company. 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (vi)
      Holder agrees that at the time of each exercise of this Warrant, unless the
      issuance of shares of Common Stock issuable thereupon is pursuant to an
      effective registration statement under the Securities Act, Holder will provide
      Company with a letter embodying the representations and warranties set forth
      in
      subsections (i) through (v), in form and substance satisfactory to Company,
      and
      agrees that the certificate(s) representing any shares issued to it upon any
      exercise of this Warrant may bear such restrictive legend as Company may deem
      necessary to reflect the restricted status of such shares under the Securities
      Act unless Company shall have received from Holder an opinion of counsel to
      Holder, reasonably satisfactory in form and substance to Company, that such
      restrictive legend is not required. 

     

    Section
      3.     Certain Adjustments.

     

    (a)     Stock
      Dividends and Splits.
      If the
      Company, at any time while this Warrant is outstanding: (A) pays a stock
      dividend or otherwise makes a distribution on shares of its Common Stock or
      any
      other equity or equity equivalent securities payable in shares of Common Stock
      (which, for avoidance of doubt, shall not include any shares of Common Stock
      issued by the Company pursuant to this Warrant or any other option, warrant
      or
      other right to acquire the Common Stock outstanding on the date hereof), (B)
      subdivides outstanding shares of Common Stock into a larger number of shares
      (including by way of a stock split), or (C) combines (including by way of
      reverse stock split) outstanding shares of Common Stock into a smaller number
      of
      shares, then in each case the Exercise Price shall be multiplied by a fraction
      of which the numerator shall be the number of shares of Common Stock outstanding
      before such event and of which the denominator shall be the number of shares
      of
      Common Stock outstanding after such event. Any adjustment made pursuant to
      this
      Section 3(a) shall become effective immediately after the record date for the
      determination of stockholders entitled to receive such dividend or distribution
      and shall become effective immediately after the effective date in the case
      of a
      subdivision or combination.

     

    (b)     Adjustment
      of Number of Shares.
      Upon
      each adjustment in the Exercise Price pursuant to Section 3(a), the number
      of
      shares of Common Stock issuable upon exercise hereof shall be adjusted, rounded
      up to the nearest whole share, to the product obtained by multiplying such
      number of shares purchasable immediately prior to such adjustment in the
      Exercise Price by a fraction, the numerator of which shall be the Exercise
      Price
      immediately prior to such adjustment and the denominator of which shall be
      the
      Exercise Price immediately thereafter.

     

    (c)     Calculations.
      All
      calculations under this Section 3 shall be made to the nearest cent or the
      nearest 1/100th of a share, as the case may be. 

     

    (d)     Failure
      to Effect Event Requiring Adjustment.
      If any
      event requiring an adjustment in the Exercise Price and the number of Warrant
      Shares issuable hereunder is not paid or made, then the Exercise Price and
      number of shares issuable upon exercise of this Warrant shall again be adjusted
      to be the Exercise Price and number of shares which would then be in effect
      if
      such adjustment had not been made for such.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

               
      (e)     Notice
      to Holders.
      Whenever the Exercise Price is adjusted pursuant to Section 3(a), the Company
      shall promptly mail to each Holder a notice setting forth the Exercise Price
      after such adjustment and setting forth a brief statement of the facts requiring
      such adjustment, in reasonable detail, the event requiring the adjustment and
      the method by which such adjustment was calculated, specifying the number of
      shares of Common Stock for which this Warrant is exercisable and describing
      the
      number and kind of any other shares of stock or other property for which this
      Warrant is exercisable, and any related change in the Exercise Price, after
      giving effect to such adjustment or change.

     

     
      (f)     Organic
      Change.
      Any
      recapitalization, reorganization, reclassification, consolidation or merger
      to
      which the Company is a party, or sale of all or substantially all of the
      Company’s assets to another Person or other transaction that is effected in such
      a way that holders of Common Stock are entitled to receive (either directly
      or
      upon subsequent liquidation) stock, securities or assets with respect to or
      in
      exchange for Common Stock is referred to herein as an “Organic Change.” Prior to
      the consummation of any Organic Change, the Company will make appropriate
      provision to ensure that the Holder will thereafter have the right to acquire
      and receive, upon exercise of this Warrant, in lieu of or addition to (as the
      case may be) the Warrant Shares immediately theretofore acquirable and
      receivable upon the exercise of such holder’s Warrant, such stock, securities or
      assets as may be issued or payable with respect to or in exchange for the number
      of Warrant Shares immediately theretofore acquirable and receivable upon
      exercise of the Holder’s Warrant had such Organic Change not taken place. In any
      such case, the Company will make appropriate provision with respect to the
      Holder’s rights and interests to ensure that the provisions of this Section 3(f)
      hereof will thereafter be applicable to the Warrant. The Company will not effect
      any such Organic Change, unless prior to the consummation thereof, the successor
      entity (if other than the Company) resulting from consolidation or merger or
      the
      corporation purchasing such assets assumes by written instrument, the obligation
      to deliver to the Holder such stock, securities or assets as, in accordance
      with
      the foregoing provisions, Holder may be entitled to acquire. The Company will
      give written notice to the Holder at least 20 days prior to the date on which
      the Company closes its books or takes a record for determining rights to vote
      with respect to any Organic Change, dissolution or liquidation. The Company
      will
      also give written notice to the Holder at least 20 days prior to the date on
      which any Organic Change, dissolution or liquidation will take
      place.

     

    Section
      4.     Adjustments
      Related to the Issuance of Additional Shares of Common Stock.

     

    4.1 
Issuance
      of Additional Shares of Common Stock. 
      (a)  If at any time the Company shall issue or sell any shares of Common
      Stock in a Subsequent Issuance for a consideration per share that is less than
      the Exercise Price, then, forthwith upon such issuance or sale, the Exercise
      Price shall be reduced by dividing (A) an amount equal to the sum of (x) the
      number of shares of Common Stock Outstanding immediately prior to such
      Subsequent Issuance multiplied by the then existing Exercise Price, plus (y)
      the
      aggregate consideration (determined in accordance with the provisions of Section
      4.4 hereof), if any, received by the Company in connection with such Subsequent
      Issuance, by (B) the total number of shares of Common Stock Outstanding
      immediately after such Subsequent Issuance.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (b) 
      The provisions of this Section 4.1 shall not apply to (i) any issuance of Common
      Stock for which an adjustment is provided for under Section 3 hereof, (ii)
      any
      issuance or sale of Common Stock pursuant to the exercise of any Convertible
      Securities or Stock Purchase Rights to the extent that an adjustment shall
      have
      been previously made hereunder in connection with the issuance of such
      Convertible Securities or Stock Purchase Rights pursuant to the provisions
      of
      Section 4.2 hereof, (iii) issuances of shares of Common Stock in the ordinary
      course of business as payment for services so long as the aggregate amount
      of
      all such issuances does not exceed 10% of the total number of shares of Common
      Stock outstanding as of the date of issuance of such payment and so long as
      each
      share is valued at no less than one dollar and fifty cents ($1.50), (iv)
      issuances of shares of Common Stock arising from any existing obligation, each
      as set forth on Schedule A hereto, (v) any securities issued pursuant to the
      Company’s 2004 Stock Option and Stock Incentive Plan or any equity incentive or
      stock option plan adopted by the shareholders of the Company; provided that
      the
      aggregate amount of such shares shall not exceed 10% of the outstanding shares
      of the Company’s common stock as of the date such plan is approved by the
      Company’s shareholders, (vi) issuances of any securities to other distributors
      of the Service so long as the aggregate amount of all such issuances does not
      exceed [XXXXX]* 
      shares,
      (vii) issuance of any securities pursuant to any subsequent agreement between
      Holder or any of its affiliates, and the Company and (viii) any securities
      issued in connection with the acquisition of assets, stock purchase or merger
      whereby the Company is the surviving corporation (collectively, the “Excluded
      Issuances”).

     

    4.2 
Issuances
      of Stock Purchase Rights and Convertible Securities.
      (a) In
      the event that the Company shall at any time issue, sell or grant any Stock
      Purchase Rights to any Person in a Subsequent Issuance, other than an Excluded
      Issuance, then, for the purposes of Section 4.1 above, the Company shall be
      deemed to have issued at that time a number of shares of Common Stock equal
      to
      the maximum number of shares of Common Stock that are or may become issuable
      upon exercise of such Stock Purchase Rights (or upon exercise of any Convertible
      Securities issuable upon exercise of such Stock Purchase Rights) for a
      consideration per share equal to (i) the aggregate consideration per share
      (determined in accordance with the provisions of Section 4.4 hereof) received
      by
      the Company in connection with the issuance, sale or grant of such Stock
      Purchase Rights plus (ii) the minimum amount of such consideration per share
      receivable by the Company in connection with the exercise of such Stock Purchase
      Rights (and the exercise of any Convertible Securities issuable upon exercise
      of
      such Stock Purchase Rights); provided,
      that,
      if at any time the Company shall issue, sell or grant to any distributor of
      the
      Service (as defined in the Charter Affiliation Agreement) any warrants or
      similar rights to subscribe for or purchase shares of Common Stock (each, a
      “Distributor Warrant”) with an exercise price less than the Exercise Price
      hereunder (as adjusted pursuant to the terms of this Warrant), then the Exercise
      Price hereunder shall be reduced to an amount equal to the exercise price
      relating to such Distributor Warrant.

     

    (b)     In
      the
      event that the Company shall at any time issue or sell any Convertible
      Securities to any Person in a Subsequent Issuance, other than an Excluded
      Issuance, then, for the purposes of Section 4.1 above, the Company shall be
      deemed to have issued at that time a number of shares of Common Stock equal
      to
      the maximum number of shares of Common Stock that are or may become issuable
      upon the exercise of the conversion or exchange rights associated with such
      Convertible Securities for a consideration per share equal to (i) the aggregate
      consideration per share (determined in accordance with the provisions of Section
      4.4 hereof) received by the Company in connection with the issuance or sale
      of
      such Convertible Securities plus (ii) the minimum amount of such consideration
      per share receivable by the Company in connection with the exercise of such
      conversion or exchange rights, except as provided in Section 4.2 (c), no further
      adjustment shall be made, pursuant to Section 4.1 hereof, to the Exercise Price
      upon the actual issuance of the shares of Common Stock pursuant to the exercise
      or conversion of the Convertible Securities.

    
      _____________________

      *
        Filed
        under an application for confidential treatment.

       

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (c)     If,
      at any
      time after any adjustment of the Exercise Price shall have been made hereunder
      as the result of any issuance, sale or grant of any Convertible Securities
      or
      Stock Purchase Rights, the maximum number of shares issuable upon exercise
      of
      such of the rights of conversion or exchange associated with such Convertible
      Securities or Stock Purchase Rights shall increase, or the minimum amount of
      consideration per share receivable in connection with such exercise shall
      decrease, whether by operation of any antidilution rights pertaining to such
      Convertible Securities or Stock Purchase Rights, by agreement of the parties
      or
      otherwise, the Exercise Price then in effect shall first be readjusted to
      eliminate the effects of the original issuance, sale or grant of such
      Convertible Securities or Stock Purchase Rights on such Exercise Price and
      then
      readjusted as if such Convertible Securities or Stock Purchase Rights had been
      issued on the effective date of such increase in number of shares or decrease
      in
      consideration, but only if the effect of such two-step readjustment is to reduce
      the Exercise Price below the Exercise Price in effect immediately prior to
      such
      increase or decrease.

     

    (d)     If,
      at any
      time after any adjustment of the Exercise Price shall have been made hereunder
      as the result of any issuance, sale or grant of any Convertible Securities
      or
      Stock Purchase Rights, any of such rights of conversion or exchange associated
      with such Convertible Securities or Stock Purchase Rights shall expire by their
      terms or be terminated or any of such Convertible Securities or Stock Purchase
      Rights shall be repurchased by the Company or a Subsidiary thereof for a
      consideration per underlying share of Common Stock not exceeding the amount
      of
      such consideration received by the Company in connection with the issuance,
      sale
      or grant of such Convertible Securities or Stock Purchase Rights, the Exercise
      Price then in effect shall be increased to the Exercise Price that would have
      been in effect if such expiring or terminated rights of conversion or exchange
      or such repurchased Convertible Securities or Stock Purchase Rights had never
      been issued. Similarly, if at any time after any such adjustment of the Exercise
      Price shall have been made pursuant to Section 4.1 (i) any additional
      consideration is received or becomes receivable by the Company in connection
      with the issuance or exercise of such Convertible Securities or Stock Purchase
      Rights or (ii) there is a reduction in the conversion ratio applicable to such
      Convertible Securities or Stock Purchase Rights so that fewer shares of Common
      Stock will be issuable upon the conversion or exchange thereof, the Exercise
      Price then in effect shall be forthwith readjusted to the Exercise Price that
      would have been in effect had such changes taken place at the time that such
      Convertible Securities or Stock Purchase Rights were initially issued, granted
      or sold. In no event shall any readjustment under this Section 4.2(c)
      affect the validity of any shares of Warrant Shares issued upon any exercise
      of
      this Warrant prior to such readjustment, nor shall any such readjustment have
      the effect of increasing the Exercise Price above the Exercise Price that would
      have been in effect if the related Convertible Securities or Stock Purchase
      Rights had never been issued.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    4.3     Adjustment
      of Number of Shares Purchasable.
      Upon
      any adjustment of the Exercise Price as provided in Section 4.1 and 4.2 hereof,
      the Holder hereof shall thereafter be entitled to purchase upon the exercise
      of
      this Warrant, at the Exercise Price resulting from such adjustment, the number
      of shares of Common Stock (calculated to the nearest 1/100th of a share)
      obtained by multiplying the Exercise Price in effect immediately prior to such
      adjustment by the number of shares of Common Stock issuable on the exercise
      hereof immediately prior to such adjustment and dividing the product thereof
      by
      the Exercise Price resulting from such adjustment.

     

    4.4     Determination
      of Consideration.
      For
      purposes of Sections 4.1, 4.2 and 4.3 hereof, the consideration received and/or
      receivable by the Company in connection with the issuance, sale, grant or
      exercise of additional shares of Common Stock, Stock Purchase Rights or
      Convertible Securities, irrespective of the accounting treatment of such
      consideration, shall be valued as follows:

     

    (1)    
Cash
      Payment.
      In the
      case of cash, the net amount received by the Company after deduction of any
      accrued interest or dividends.

                   

    (2)     Securities
      or Other Property.
      In the
      case of securities or other property, the fair market value thereof as of the
      date immediately preceding such issuance, sale, grant or exercise as determined
      in good faith by the Board of Directors of the Company.

     

    (3)    Allocation
      Related to Common Stock.
      In the
      event shares of Common Stock are issued or sold together with other securities
      or other assets of the Company for a consideration which covers both, the
      consideration received (computed as provided in (1) and (2) above) shall be
      allocable to such shares of Common Stock as determined in good faith by the
      Board of Directors of the Company.

     

    (4)     Allocation
      Related to Stock Purchase Rights and Convertible Securities.
      In case
      any Convertible Securities or Stock Purchase Rights shall be issued or sold
      together with other securities or other assets of the Company, together
      comprising one integral transaction in which no specific consideration is
      allocated to Convertible Securities or Stock Purchase Rights, the consideration
      allocable to Convertible Securities or Stock Purchase Rights shall be determined
      in good faith by the Board of Directors of the Company.

     

    (5)     Dividends
      in Securities.
      In case
      the Company shall declare a dividend or make any other distribution upon any
      stock of the Company payable in either case in Common Stock or Convertible
      Securities, such Common Stock or Convertible Securities, as the case may be,
      issuable in payment of such dividend or distribution shall be deemed to have
      been issued or sold without consideration.

     

    (6)     Merger,
      Consolidation or Sale of Assets.
      In case
      any shares of Common Stock, Convertible Securities or Stock Purchase Rights
      shall be issued in connection with any merger or consolidation in which the
      Company is the surviving corporation, the amount of consideration therefor
      shall
      be deemed to be the fair value of such portion of the assets and business of
      the
      non-surviving corporation attributable to such Common Stock, Convertible
      Securities, as is determined in good faith by the Company’s Board of
      Directors.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    4.5. Other
      Provisions Applicable to Adjustments Under this Section.
      The
      following provisions shall be applicable to the adjustments provided for
      pursuant to this Section 4:

    

    (a)     When
      Adjustments To Be Made.
      The
      adjustments required by this Section 4 shall be made whenever and as often
      as any specified event requiring such an adjustment shall occur. For the purpose
      of any such adjustment, any specified event shall be deemed to have occurred
      at
      the close of business on the date of its occurrence.

    

    (b)    Record
      Date.
      In case
      the Company shall take a record of the holders of the Common Stock for the
      purpose of entitling them (i) to receive a dividend or other distribution
      payable in Common Stock, Convertible Securities or Stock Purchase Rights or
      (ii) to subscribe for or purchase Common Stock, Convertible Securities or
      Stock Purchase Rights, then all references in this Section 4 to the date of
      the
      issuance or sale of such shares of Common Stock, Convertible Securities or
      Stock
      Purchase Rights shall be deemed to be references to such record
      date.

    

    (c)     
      Calculations.
      All
      calculations under this Section 4 shall be made to the nearest cent or the
      nearest 1/100th of a share, as the case may be.

    

    (d)     Failure
      to Effect Event Requiring Adjustment.
      If
      any
      event requiring an adjustment in the Exercise Price and the number of Warrant
      Shares issuable hereunder is not paid or made, then the Exercise Price and
      number of shares issuable upon exercise of this Warrant shall again be adjusted
      to be the Exercise Price and number of shares which would then be in effect
      if
      such adjustment had not been made for such.

    

    (e)     Maximum
      Exercise Price.
      At no
      time shall any adjustment pursuant to this Section 4 cause the Exercise Price
      per share of Common Stock to exceed the amount set forth in the first paragraph
      of the preamble of this Warrant.

    

    (f)     Notice
      to Holders.
      Whenever the Exercise Price is adjusted pursuant to Section 4, the Company
      shall
      promptly mail to each Holder a notice setting forth the Exercise Price after
      such adjustment and setting forth a brief statement of the facts requiring
      such
      adjustment, in reasonable detail, the event requiring the adjustment and the
      method by which such adjustment was calculated, specifying the number of shares
      of Common Stock for which this Warrant is exercisable and describing the number
      and kind of any other shares of stock or other property for which this Warrant
      is exercisable, and any related change in the Exercise Price, after giving
      effect to such adjustment or change.

    

    (g)     Independent
      Application.
      Except
      as otherwise provided herein, all subsections of this Section 4 are intended
      to
      operate independently of one another (but without duplication). If an event
      occurs that requires the application of more than one subsection, all applicable
      subsections shall be given independent effect without duplication.

    

    Section
      5. Transfer
      of Warrant.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    (a)     Transferability.
      Subject
      to compliance with any applicable securities laws and the conditions set forth
      in Sections 5(d) and 6(a) hereof and to the provisions of Section 4.1 of the
      Purchase Agreement, this Warrant and all rights hereunder are transferable,
      in
      whole or in part, upon surrender of this Warrant at the principal office of
      the
      Company, together with a written assignment of this Warrant substantially in
      the
      form attached hereto duly executed by the Holder or its agent or attorney and
      funds sufficient to pay any transfer taxes payable upon the making of such
      transfer. Upon such surrender and, if required, such payment, the Company shall
      execute and deliver a new Warrant or Warrants in the name of the assignee or
      assignees and in the denomination or denominations specified in such instrument
      of assignment, and shall issue to the assignor a new Warrant evidencing the
      portion of this Warrant not so assigned, and this Warrant shall promptly be
      cancelled. A Warrant, if properly assigned, may be exercised by a new holder
      for
      the purchase of Warrant Shares without having a new Warrant issued.

     

    (b)     New
      Warrants.
      This
      Warrant may be divided or combined with other Warrants upon presentation hereof
      at the aforesaid office of the Company, together with a written notice
      specifying the names and denominations in which new Warrants are to be issued,
      signed by the Holder or its agent or attorney. Subject to compliance with
      Section 5(a), as to any transfer which may be involved in such division or
      combination, the Company shall execute and deliver a new Warrant or Warrants
      in
      exchange for the Warrant or Warrants to be divided or combined in accordance
      with such notice.

     

    (c)     Warrant
      Register.
      The
      Company shall register this Warrant, upon records to be maintained by the
      Company for that purpose (the “Warrant
      Register”),
      in
      the name of the record Holder hereof from time to time. The Company may deem
      and
      treat the registered Holder of this Warrant as the absolute owner hereof for
      the
      purpose of any exercise hereof or any distribution to the Holder, and for all
      other purposes, absent actual notice to the contrary.

     

    (d)     Transfer
      Restrictions.
      If,
      at the
time
      of
      the surrender of this Warrant in connection with any transfer of this Warrant,
      the transfer of this Warrant shall not be registered pursuant to an effective
      registration
      statement under the Securities Act
      and
under
      applicable state securities or blue sky laws, the Company may require, as a
      condition of allowing such transfer (i) that the Holder or transferee of this
      Warrant, as the case may be, furnish to the Company a written opinion of counsel
      (which opinion shall be in form, substance and scope customary for opinions
      of
      counsel in comparable transactions) to the effect that such transfer may be
      made
      without
      registration under the
      Securities Act and under applicable state securities or blue sky laws, (ii)
      that
      the holder or transferee execute and deliver to the Company an investment letter
      in form and substance acceptable to the Company and (iii) that the transferee
      be
      an “accredited investor” as defined in Regulation D promulgated under the
      Securities Act.

     

    (e)     Legend. The
      Warrant Shares issuable hereunder shall bear the following legend:

     

    THESE
      SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION,
      OR THE SECURITIES COMMISSION OF ANY STATE, IN RELIANCE UPON AN EXEMPTION FROM
      REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
      EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
      SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
      TO
      SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
      COMPANY. 

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    Certificates
      evidencing the Warrant Shares shall not contain the legend set forth above:
      (i)
      following any sale of such Warrant pursuant to an effective registration
      statement under the Securities Act or pursuant to Rule 144, or (ii) if such
      Warrant Shares are eligible for sale under Rule 144(k), provided that, in each
      case, the Holder provides a copy of such certificates or confirmations as the
      Company reasonably requests.

     

    Notwithstanding
      the foregoing provisions of this Section 5, the restrictions imposed by
      Section 5 upon the transferability of the Warrants and the Warrant Shares
      and the legend requirements of Section 5 shall terminate as to any
      particular Warrant or Warrant Shares when the Company shall have received from
      the Holder thereof an opinion of legal counsel to the effect that such legend
      is
      not required in order to ensure compliance with the Securities Act. Whenever
      the
      restrictions imposed by Section 5 shall terminate as to this Warrant, as
      hereinabove provided, the Holder hereof shall be entitled to receive from the
      Company, at the expense of the Company, a new Warrant bearing the following
      legend in place of the restrictive legend set forth hereon:

     

    “THE
      RESTRICTIONS ON TRANSFERABILITY OF THE WITHIN WARRANT CONTAINED IN SECTION
      5
      HEREOF TERMINATED ON ______________, 20__, AND ARE OF NO FURTHER FORCE AND
      EFFECT.”

     

    All
      Warrants issued upon registration of transfer, division or combination of,
      or in
      substitution for, any Warrant or Warrants entitled to bear such legend shall
      have a similar legend endorsed thereon. Wherever the restrictions imposed by
      this Section shall terminate as to any Warrant Shares, as hereinabove provided,
      the Holder thereof shall be entitled to receive from the Company, at the
      Company’s expense, a new certificate representing such Common Stock not bearing
      the restrictive legend set forth in Section 5.

     

    Section
      6.    Miscellaneous.

     

    (a)     Title
      to Warrant.
      The
      Company shall register this Warrant, upon records to be maintained by the
      Company for that purpose, in the name of the record Holder hereof from time
      to
      time. The Company may deem and treat the registered Holder of this Warrant
      as
      the absolute owner hereof for the purpose of any exercise hereof or any notice
      to the Holder, and for all other purposes, absent actual written notice to
      the
      contrary and compliance with the applicable provisions concerning transfer
      of
      this Warrant.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    (b)     No
      Rights as Shareholder Until Exercise.
      This
      Warrant does not entitle the Holder to any voting rights or other rights as
      a
      shareholder of the Company prior to the Exercise Date and then only with respect
      to the Warrant Shares to be issued with respect thereto. 

     

    (c)     Loss,
      Theft, Destruction or Mutilation of Warrant.
      The
      Company covenants that upon receipt by the Company of evidence reasonably
      satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
      or any stock certificate relating to the Warrant Shares, and in case of loss,
      theft or destruction, of indemnity or security reasonably satisfactory to it
      (which, in the case of the Warrant, shall not include the posting of any bond),
      and upon surrender and cancellation of such Warrant or stock certificate, if
      mutilated, the Company will make and deliver a new Warrant or stock certificate
      of like tenor and dated as of such cancellation, in lieu of such Warrant or
      stock certificate.

     

    (d)     Saturdays,
      Sundays, Holidays, etc.
      If the
      last or appointed day for the taking of any action or the expiration of any
      right required or granted herein shall be a Saturday, Sunday or a legal holiday,
      then such action may be taken or such right may be exercised on the next
      succeeding day not a Saturday, Sunday or legal holiday.

     

    (e)     Exchange
      of Warrant for Warrants of Different Denominations.
      This
      Warrant is exchangeable, upon the surrender hereof by the Holder at the
      principal office of the Company, for new Warrants of like tenor representing
      in
      the aggregate the right to purchase the number of Warrant Shares then
      purchasable hereunder, and each of such new Warrant will represent such portion
      of such rights as is designated by the Purchaser at the time of such surrender.
      The date the Company initially issued this Warrant will be deemed to be the
      warrant issue date for such new Warrants regardless of the number of times
      new
      certificates representing the unexplored and unexercised rights formerly
      represented by this Warrant shall be issued.

     

    (f)     Jurisdiction.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Warrant shall be governed by and construed in accordance with the
      internal laws of the State of Delaware, without regard to the principles of
      conflicts of law thereof.

     

    (g)     Restrictions.
      The
      Holder acknowledges that the Warrant Shares acquired upon the exercise of this
      Warrant, if not registered, will have restrictions upon resale imposed by state
      and federal securities laws.

     

    (h)     No
      waiver.
      No
      course of dealing or any delay or failure to exercise any right hereunder on
      the
      part of Holder shall operate as a waiver of such right or otherwise prejudice
      Holder’s rights, powers or remedies; provided, however, that all rights
      hereunder shall terminate on the Termination Date. 

     

    (i)     Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earliest of (I) the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile number set forth on the signature
      pages attached hereto prior to 4:00 p.m. (Eastern Time) on a Trading Day, (II)
      the next Trading Day after the date of transmission, if such notice or
      communication is delivered via facsimile at the facsimile number set forth
      on
      the signature pages attached hereto on a day that is not a Trading Day or later
      than 4:00 p.m. (Eastern Time) on any Trading Day, (III) the second Trading
      Day
      following the date of mailing, if sent by U.S. nationally recognized overnight
      courier service, or (IV) upon actual receipt by the party to whom such notice
      is
      required to be given; provided, however, that any exercise of the Warrant shall
      be effective in the manner provided in Section 2(a). The address for such
      notices and communications shall be (A) if to the Holder of this Warrant, at
      the
      registered address of such Holder as set forth in the Warrant register kept
      at
      the principal office of the Company or its Warrant registrar, if any, or (b)
      if
      to the Company, to it at the address set forth on the signature page
      hereto.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    (j)     Limitation
      of Liability.
      No
      provision hereof, in the absence of any affirmative action by Holder to exercise
      this Warrant or purchase Warrant Shares, and no enumeration herein of the rights
      or privileges of Holder, shall give rise to any liability of Holder for the
      purchase price of any Common Stock or as a stockholder of the Company, whether
      such liability is asserted by the Company or by creditors of the
      Company.

     

    (k)     Remedies.
      Holder,
      in addition to being entitled to exercise all rights granted by law, including
      recovery of damages, will be entitled to specific performance of its rights
      under this Warrant. The Company agrees that monetary damages would not be
      adequate compensation for any loss incurred by reason of a breach by it of
      the
      provisions of this Warrant and hereby agrees to waive the defense in any action
      for specific performance that a remedy at law would be adequate.

     

    (l)     Successors
      and Assigns.
      Subject
      to applicable securities laws and the other restrictions on transfer set forth
      herein, this Warrant and the rights and obligations evidenced hereby shall
      inure
      to the benefit of and be binding upon the successors of the Company and the
      successors and permitted assigns of Holder. The provisions of this Warrant
      are
      intended to be for the benefit of all Holders from time to time of this Warrant
      and shall be enforceable by any such Holder.

     

    (m)     Amendment.
      This
      Warrant may be modified or amended or the provisions hereof waived with the
      written consent of the Company and the Holder.

     

    (n)     Severability.
      Wherever possible, each provision of this Warrant shall be interpreted in such
      manner as to be effective and valid under applicable law, but if any provision
      of this Warrant shall be prohibited by or invalid under applicable law, such
      provision shall be ineffective to the extent of such prohibition or invalidity,
      without invalidating the remainder of such provisions or the remaining
      provisions of this Warrant.

     

    (o)     Tax
      Treatment.
      This
      Warrant is not intended to qualify as an incentive stock option as defined
      in
      Section 422 of the Internal Revenue Code, as amended.

     

    (p)     Headings.
      The
      headings used in this Warrant are for the convenience of reference only and
      shall not, for any purpose, be deemed a part of this Warrant.

     

    (q)     No
      Impairment.
      The
      Company shall not by any action, including, without limitation, amending its
      charter documents or through any reorganization, reclassification, transfer
      of
      assets, consolidation, merger, dissolution, issue or sale of securities or
      any
      other similar voluntary action, avoid or seek to avoid the observance or
      performance of any of the terms of this Warrant, but will at all times in good
      faith assist in the carrying out of all such terms and in the taking of all
      such
      actions as may be necessary or appropriate to protect the rights of the Holder
      against impairment. Without limiting the generality of the foregoing, the
      Company shall take all such action as may be necessary or appropriate in order
      that the Company may validly and legally issue fully paid and nonassessable
      shares of Common Stock upon the exercise of this Warrant, free and clear of
      all
      liens or other encumbrances, and shall use its best efforts to obtain all such
      authorizations, exemptions or consents from any public regulatory body having
      jurisdiction over it as may be necessary to enable the Company to perform its
      obligations under this Warrant.

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    
                 
      (r)     Supplying
      Information; Rule 144.
      The
      Company shall cooperate with each holder of a Warrant and each holder of Warrant
      Shares in supplying such information as may be reasonably necessary for such
      holder to complete and file any information reporting forms presently or
      hereafter required by the Commission as a condition to the availability of
      an
      exemption from the Securities Act for the sale of any Warrant or Warrant Shares.
      The Company shall use its best efforts to at all times make public information
      available so as to afford the holders of the Warrants and the Warrant Shares
      the
      benefits of Rule 144 of the Commission in connection with resales, and upon
      request of any Holder shall provide such Holder with such financial statements,
      reports and other information as may be required to permit such Holder to sell
      Warrants or Warrant Shares to one or more “Qualified Institutional Buyers” under
      Rule 144A of the Commission, in each case as such Rule may be amended from
      time
      to time or replaced or supplemented by any similar rule or regulation hereafter
      adopted by the Commission.

     

    ********************

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

        IN
      WITNESS
      WHEREOF, the Company has caused this Warrant to be executed by its officer
      thereunto duly authorized.

    

     

    
      
        	 	 	 
	 	THE
                TUBE
                MEDIA CORP.
	 
 	 
 	 
 
	Dated:
                March 6, 2006	By:  	/s/
                John
                W. Poling
	 	
                
Name:
                John W. Poling
	 	Title:
                Executive Vice President and CFO
	 

                 

              	 

                Address
                  for Notice:

                _____________________________________________

                _____________________________________________

                _____________________________________________

              
	 

                 

              	 

                with
                  a copy to (which shall not constitute notice) to:

                Blank
                  Rome LLP

                1200
                  N. Federal Highway, Suite 417

                Boca
                  Raton, Florida 33432

                Attention:
                  Bruce C. Rosetto, Esquire

              

      

    

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    NOTICE
      OF EXERCISE

    

    TO: THE
      TUBE
      MEDIA CORP.

    

    (1)  The
      undersigned hereby elects to exercise this Warrant with respect to ________
      Warrant Shares of the Company pursuant to the terms of the enclosed Warrant,
      and
      tenders herewith payment therefore, all at a price and on the terms and
      conditions specified in the Warrant.

     

    (2)  Please
      issue a certificate or certificates representing said Warrant Shares in the
      name
      of the undersigned or in such other name as is specified below:

    _______________________________

     

    Note:
      If
      issued in the name of a Person other than the Holder, additional documentation
      may be required by the Company as specified in the Warrant to assure compliance
      with federal and state securities laws.

    

    The
      Warrant Shares shall be delivered to the following:

    _______________________________

    _______________________________

    _______________________________

    

    (3)     Accredited
      Investor; Investor Representation.
      The
      undersigned Holder is an “accredited investor” as defined in Regulation D
      promulgated under the Securities Act of 1933, as amended. The undersigned
      represents and warrants that the shares of Common Stock to be issued upon
      exercise hereof are being acquired solely for the account of the undersigned
      and
      not as a nominee for another party, and for investment, and that the undersigned
      will not offer, sell or otherwise dispose of any such shares of Common Stock
      except under circumstances that will not result in a violation of the Securities
      Act of 1933, as amended, or any applicable state securities laws. 

    

    (4)     The
      undersigned had not previously sold, transferred or assigned this
      Warrant.

    

    Name
      of
      Holder:

     ________________________________________________________________________

    Signature
      of Authorized Signatory of Holder:

     _________________________________________________

    Name
      of
      Authorized Signatory: 

    ___________________________________________________________________

    Title
      of
      Authorized Signatory:

     ____________________________________________________________________

    Date:
      ________

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    ASSIGNMENT
      FORM

    

    (To
      assign the foregoing warrant, execute

    this
      form
      and supply required information. 

    Do
      not
      use this form to exercise the warrant.)

     

    

    FOR
      VALUE
      RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby
      assigned to

    

    _______________________________________________
      whose address is

    

    _______________________________________________________________.

    

    

    

    _______________________________________________________________

    

    Dated:
      ______________, _______

    

    

    Holder’s
      Signature:_____________________________

    

    Holder’s
      Address: _____________________________

     

                      _____________________________

    

     

    Medallion
      Signature Guarantee: ___________________________________________

     

    NOTE:
      The
      signature to this Assignment Form must correspond with the name as it appears
      on
      the face of the Warrant, without alteration or enlargement or any change
      whatsoever, and must be guaranteed by a bank or trust company. Officers of
      corporations and those acting in a fiduciary or other representative capacity
      should file proper evidence of authority to assign the foregoing Warrant.
      Additional documentation may be required by the Company as specified in the
      Warrant to assure compliance with federal and state securities
      laws.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]