Document:

exhibit4_2.htm

     

    
      Exhibit
        4.2

       

    

    
      

      EXECUTION
        COPY

        

         

    

     

    RIGHTS
      AGREEMENT

     

     

    dated
      as of

     

    August
      14, 2007

     

    

     

    between

     

    

     

    CHARTER
      COMMUNICATIONS, INC.

     

    

     

    and

     

    

     

    MELLON
      INVESTOR SERVICES LLC

     

    Rights
      Agent

     

    

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    TABLE
      OF CONTENTS

     

    Page

     

    
      	
              Section
                1

            	
              Certain
                Definitions

            	 	 	
              1

            	 
	
              Section
                2

            	
              Appointment
                of Rights Agent

            	 	 	
              6

            	 
	
              Section
                3

            	
              Issuance
                of Rights Certificates

            	 	 	
              6

            	 
	
              Section
                4

            	
              Form
                of Rights Certificates

            	 	 	
              8

            	 
	
              Section
                5

            	
              Countersignature
                and Registration

            	 	 	
              8

            	 
	
              Section
                6

            	
              Transfer,
                Split-Up, Combination and Exchange of Rights Certificates; Mutilated,
                Destroyed, Lost or Stolen Rights Certificates

            	 	 	
              9

            	 
	
              Section
                7

            	
              Exercise
                of Rights; Purchase Price; Expiration Date of Rights

            	 	 	
              10

            	 
	
              Section
                8

            	
              Cancellation
                and Destruction of Rights Certificates

            	 	 	
              11

            	 
	
              Section
                9

            	
              Company
                Covenants Concerning Securities and Rights

            	 	 	
              11

            	 
	
              Section
                10

            	
              Record
                Date

            	 	 	
              13

            	 
	
              Section
                11

            	
              Adjustment
                of Purchase Price, Number and Kind of Securities or Number of
                Rights

            	 	 	
              13

            	 
	
              Section
                12

            	
              Certificate
                of Adjusted Purchase Price or Number of Shares

            	 	 	
              20

            	 
	
              Section
                13

            	
              Fractional
                Rights and Fractional Shares

            	 	 	
              21

            	 
	
              Section
                14

            	
              Rights
                of Action

            	 	 	
              22

            	 
	
              Section
                15

            	
              Agreement
                of Rights Holders

            	 	 	
              23

            	 
	
              Section
                16

            	
              Rights
                Certificate Holder Not Deemed a Stockholder

            	 	 	
              23

            	 
	
              Section
                17

            	
              Concerning
                the Rights Agent

            	 	 	
              24

            	 
	
              Section
                18

            	
              Merger,
                Consolidation or Change of Name of Rights Agent

            	 	 	
              24

            	 
	
              Section
                19

            	
              Duties
                of Rights Agent

            	 	 	
              25

            	 
	
              Section
                20

            	
              Change
                of Rights Agent

            	 	 	
              27

            	 
	
              Section
                21

            	
              Issuance
                of New Rights Certificates

            	 	 	
              28

            	 
	
              Section
                22

            	
              Redemption

            	 	 	
              28

            	 

    

     

     

    
       

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Section
                23

            	
              Exchange

            	 	 	
              29

            	 
	
              Section
                24

            	
              Notice
                of Certain Events

            	 	 	
              30

            	 
	
              Section
                25

            	
              Notices

            	 	 	
              31

            	 
	
              Section
                26

            	
              Supplements
                and Amendments

            	 	 	
              32

            	 
	
              Section
                27

            	
              Successors

            	 	 	
              33

            	 
	
              Section
                28

            	
              Determinations
                and Actions by the Board

            	 	 	
              33

            	 
	
              Section
                29

            	
              Benefits
                of this Agreement

            	 	 	
              33

            	 
	
              Section
                30

            	
              Severability

            	 	 	
              34

            	 
	
              Section
                31

            	
              Governing
                Law

            	 	 	
              34

            	 
	
              Section
                32

            	
              Counterparts

            	 	 	
              34

            	 
	
              Section
                33

            	
              Descriptive
                Headings; Interpretation

            	 	 	
              34

            	 
	
              Section
                34

            	
              Termination

            	 	 	
              35

            	 

    

     

     

     

    EXHIBITS

     

    Exhibit
      A:                                Form
      of Certificate of Designation of Series B Junior Preferred Stock

     

    Exhibit
      B:                                Form
      of Rights Certificate

     

    Exhibit
      C:                                Summary
      of Rights

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    RIGHTS
      AGREEMENT

     

    RIGHTS
      AGREEMENT, dated as of August 14, 2007 (the "Agreement"), between Charter
      Communications, Inc., a Delaware corporation (the "Company"), and Mellon
      Investor Services LLC, a New Jersey limited liability company (the "Rights
      Agent").

     

    W
      I T N E S S E T H

     

    WHEREAS,
      on August 13, 2007 (the "Rights Dividend Declaration Date"), the Board
      authorized and declared a dividend distribution of one right (a "Right")
      for each share of Class A common stock, par value $0.001 per share, of the
      Company (the "Class A Common Stock") and one Right for each share of
      Class B common stock, par value $0.001 per share, of the Company (the "Class
      B Common Stock") outstanding at the Close of Business (as hereinafter
      defined) on August 31, 2007 (the "Record Date"), each Right initially
      representing the right to purchase one one-thousandth of a share of Preferred
      Stock (as hereinafter defined) of the Company, upon the terms and subject to
      the
      conditions hereinafter set forth, and further authorized and directed the
      issuance of one Right (subject to adjustment as provided herein) with respect
      to
      each share of Class A Common Stock and each share of Class B Common Stock issued
      or delivered by the Company (whether originally issued or delivered from the
      Company's treasury) after the Record Date but prior to the earlier of the
      Distribution Date (as hereinafter defined) and the Expiration Date (as
      hereinafter defined) or as provided in Section 21.

     

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

     

    Section
      1                      Certain
      Definitions

     

    For
      purposes of this Agreement, the following terms shall have the meanings
      indicated:

     

    (a)  "Acquiring
      Person" shall mean any Person (other than the Company, any Related Person or
      any Exempt Person) with respect to whom the Board has made a determination
      that
      that Person has become, in itself or, together with all Affiliates and
      Associates of such Person, the Beneficial Owner of 5.0% or more of the shares
      of
      Class A Common Stock then-outstanding, provided, however, that any
      Person who would otherwise qualify as an Acquiring Person as of the Close of
      Business on the Record Date will not be deemed to be an Acquiring Person for
      any
      purpose of this Agreement on and after such date unless and until such time
      as
      such stockholder acquires the beneficial ownership of one additional share
      of
      Class A Common Stock, and provided, further, that a Person will
      not be deemed to have become an Acquiring Person solely as a result of (i)
      a
      reduction in the number of shares of Class A Common Stock outstanding, (ii)
      the
      exercise of any options, warrants, rights or similar interests (including
      restricted stock) granted by the Company to its directors, officers and
      employees, (iii) any unilateral grant of any security by the Company, or (iv)
      an
      Exempt Transaction, unless and until such time as such stockholder acquires
      the
      beneficial ownership of one additional share of Class A Common Stock. The Board
      shall not make any determination with respect to a potential Acquiring Person
      until five (5) Business Days after the date on which all Board members first
      received notice of the change of beneficial ownership at
      issue.  Notwithstanding the foregoing, the Board may, in
      its 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    sole
      discretion, determine that any Person shall not
      be deemed to be an "Acquiring Person" for any purposes of this
      Agreement.  

     

    (b)  "Act"
      shall mean the Securities Act of 1933, as amended.

     

    (c)  "Affiliate"
      and "Associate" shall have the respective meanings ascribed to such terms
      in Rule 12b-2 of the General Rules and Regulations under the Exchange Act as
      in
      effect on the date of this Agreement, and to the extent not included within
      the
      foregoing clause of this Section 1(c), shall also include, with respect to
      any
      Person, any other Person (whether or not a Related Person or an Exempt Person)
      whose shares of Class A Common Stock or Class B Common Stock would be deemed
      constructively owned by such first Person, owned by a single "entity" as defined
      in Section 1.382-3(a)(1) of the Treasury Regulations, or otherwise aggregated
      with shares owned by such first Person pursuant to the provisions of Section
      382
      of the Internal Revenue Code of 1986, as amended (the "Code"), or any
      successor provision or replacement provision, and the Treasury Regulations
      thereunder, provided, however, that a Person shall not be deemed
      to be the Affiliate or Associate of another Person solely because either or
      both
      Persons are or were directors of the Company.

     

    (d)  "Agreement"
      shall have the meaning set forth in the preamble of this Agreement.

     

    (e)  A
      Person
      shall be deemed the "Beneficial Owner" of, and to "beneficially
      own" any securities:

     

    (i)  which
      such Person or any of such Person's Affiliates or Associates, directly or
      indirectly, has the right to acquire (whether such right is exercisable
      immediately or only after the passage of time) pursuant to any agreement,
      arrangement or understanding (whether or not in writing) or upon the exercise
      of
      conversion rights, exchange rights, warrants, options, or other rights (in
      each
      case, other than upon exercise or exchange of the Rights); provided,
however, that a Person shall not be deemed the "Beneficial Owner"
      of, or to "beneficially own" securities (including rights, options or
      warrants) which are convertible or exchangeable into Class A Common Stock until
      such time as the convertible or exchangeable securities are exercised and
      converted or exchanged into Class A Common Stock except to the extent the
      acquisition or transfer of such rights, options or warrants would be treated
      as
      exercised on the date of its acquisition or transfer under Section 1.382-4(d)
      of
      the Treasury Regulations; and, provided further, however, that a
      Person shall not be deemed the Beneficial Owner of, or to beneficially own
      securities tendered pursuant to a tender or exchange offer made by such Person
      or any of such Person's Affiliates or Associates until such tendered securities
      are accepted for purchase or exchange;

     

    (ii)  which
      such Person or any of such Person's Affiliates or Associates, directly or
      indirectly, has or shares the right to vote or dispose of, or has "beneficial
      ownership" of (as defined under Rule 13d-3 of the General Rules and Regulations
      under the Exchange Act), including pursuant to any agreement, arrangement or
      understanding (whether or not in writing), but only if the effect of such
      agreement, arrangement or understanding is to treat such Persons as an "entity"
      under Section 1.382-3(a)(1) of the Treasury Regulations; or

    

    
      
        
          
          

        

        
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    (iii)   of
      which any other person is the Beneficial Owner, if such Person or any of such
      Person's Affiliates or Associates has any agreement, arrangement or
      understanding (whether or not in writing) with such other Person (or any of
      such
      other Person's Affiliates or Associates) with respect to acquiring, holding,
      voting or disposing of any securities of the Company, but only if the effect
      of
      such agreement, arrangement or understanding is to treat such Persons as an
      "entity" under Section 1.382-3(a)(1) of the Treasury Regulations;

     

    provided,
      however, that a Person shall not be deemed the "Beneficial Owner" of, or
      to "beneficially own" any security (A) if such Person has the right to vote
      such
      security pursuant to an agreement, arrangement or understanding (whether or
      not
      in writing) which (1) arises solely from a revocable proxy given to such Person
      in response to a public proxy or consent solicitation made pursuant to, and
      in
      accordance with, the applicable rules and regulations of the Exchange Act and
      (2) is not also then reportable on Schedule 13D under the Exchange Act (or
      any
      comparable or successor report), or (B) if such beneficial ownership arises
      solely as a result of such Person's status as a "clearing agency," as defined
      in
      Section 3(a)(23) of the Exchange Act; provided further, however,
      that nothing in this Section 1(e) shall cause a Person engaged in business
      as an
      underwriter of securities to be the Beneficial Owner of, or to "beneficially
      own," any securities acquired through such Person's participation in good faith
      in an underwriting syndicate until the expiration of 40 calendar days after
      the
      date of such acquisition, and then only if such securities continue to be owned
      by such Person at the expiration of such 40 calendar days, or such later date
      as
      the directors of the Company may determine in any specific
      case.  Notwithstanding anything herein to the contrary, to the extent
      not within the foregoing provisions of this Section 1(e), a Person shall be
      deemed the "Beneficial Owner" of and shall be deemed to "beneficially own"
      or
      have "beneficial ownership" of, securities which such Person would be deemed
      to
      constructively own or which otherwise would be aggregated with shares owned
      by
      such pursuant to Section 382 of the Code, or any successor provision or
      replacement provision and the Treasury Regulations thereunder.

     

    (f)  "Board"
      shall mean the Board of Directors of the Company.

     

    (g)  "Business
      Day" shall mean any day other than a Saturday, Sunday or a day on which
      banking institutions in the States of New York, New Jersey or Missouri are
      authorized or obligated by law or executive order to close.

     

    (h)  "Class
      A Common Stock" shall have the meaning set forth in the preamble of this
      Agreement.

     

    (i)  "Class
      B Common Stock" shall have the meaning set forth in the preamble of this
      Agreement.

     

    (j)  "Close
      of Business" on any given date shall mean 5:00 P.M., New York City time, on
      such date; provided, however, that if such date is not a Business
      Day, it shall mean 5:00 P.M., New York City time, on the next succeeding
      Business Day.

     

    (k)  "Code"
      shall have the meaning set forth in Section 1(c) hereof.

     

    (l)  "Company"
      shall have the meaning set forth in the preamble of this Agreement.

    

    
      
        
          
          

        

        
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    (m)  "Company's
      Certificate of Incorporation" shall mean the Restated Certificate of
      Incorporation of the Company, as amended.

     

    (n)  "Current
      Per Share Market Price" shall have the meaning set forth in Section 11(d)(i)
      or Section 11(d)(ii) hereof, as applicable.

     

    (o)  "Distribution
      Date" shall mean the Close of Business on the tenth Business Day after the
      Stock Acquisition Date.

     

    (p)  "Equivalent
      Common Stock" shall have the meaning set forth in Section 11(a)(iii)
      hereof.

     

    (q)  "Equivalent
      Preferred Stock" shall have the meaning set forth in Section 11(b)
      hereof.

     

    (r)  "Exchange
      Act" shall mean the Securities Exchange Act of 1934, as
      amended.

     

    (s)  "Exchange
      Ratio" shall have the meaning set forth in Section 23(a) hereof

     

    (t)  "Exempt
      Person" shall mean a Person whose Beneficial Ownership (together with all
      Affiliates and Associates of such Person) of 5.0% or more of the
      then-outstanding Class A Common Stock would not, as determined by the Board
      in
      its sole discretion, jeopardize or endanger the availability to the Company
      of
      its NOLs, provided, however, that such a Person shall cease to be
      an "Exempt Person" if the Board makes a contrary determination with
      respect to such Person's Beneficial Ownership (together with all Affiliates
      and
      Associates of such Person) upon the availability to the Company of its
      NOLs.

     

    (u)  "Exempt
      Transaction" shall mean any transaction that the Board determines, in its
      sole discretion, is exempt, which determination shall be
      irrevocable.

     

    (v)  "Exercise
      Value" shall have the meaning set forth in Section 11(a)(iii)
      hereof.

     

    (w)  "Expiration
      Date" shall mean the earliest of (i) immediately following such time as
      notice is given to the Company, in accordance with the provisions of Section
      25
      hereof at the address set forth therein as of the date hereof, of a
      determination by holders of a majority of the shares of Class B Common Stock
      to
      terminate this Agreement, (ii) the Close of Business on December 31, 2008,
      (iii)
      the Close of Business on the date on which the Company makes a public
      announcement (by press release, filing made with the Securities and Exchange
      Commission or otherwise) that the Board has determined that the Company's
      Section 382 Ownership Level dropped below 25%, (iv) the time at which the
      Rights are redeemed as provided in Section 22 hereof, and (v) the time at which
      the Rights are exchanged as provided in Section 23 hereof.  For
      purposes of the Board's determination pursuant to sub-section (iii) above,
      the
      Board's good faith reliance on the representations of management shall be
      sufficient and the Board shall not be obligated to perform its own calculation
      with respect to the Company's purported Section 382 Ownership
      Level.

     

    (x)  "Flip-in
      Event" shall have the meaning set forth in Section 11(a)(ii).

    

    
      
        
          
          

        

        
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    (y)  "NOLs"
      shall mean the Company's net operating loss carryforwards.

     

    (z)  "Person"
      shall mean any individual, firm, corporation, partnership, limited liability
      company, limited liability partnership, trust or other legal entity, group
      of
      persons making a "coordinated acquisition" of shares or otherwise treated as
      an
      entity within the meaning of Section 1.382-3(a)(1) of the Treasury Regulations
      or otherwise, and includes any successor (by merger or otherwise) of such
      individual or entity.

     

    (aa)  "Preferred
      Stock" shall mean shares of Series B Junior Preferred Stock, par value
      $0.001 per share, of the Company having the rights and preferences set forth
      in
      the form of Certificate of Designation of Series B Junior Preferred Stock
      attached hereto as Exhibit A.

     

    (bb)  "Purchase
      Price" shall mean initially $25.00 per one one-thousandth of a Preferred
      Stock, subject to adjustment from time to time as provided in this
      Agreement.

     

    (cc)  "Record
      Date" shall have the meaning set forth in the recitals to this
      Agreement.

     

    (dd)  "Redemption
      Price" shall have the meaning set forth in Section 22(a)
      hereof.

     

    (ee)  "Related
      Person" shall mean (i) any Subsidiary of the Company or (ii) any employee
      benefit or stock ownership plan of the Company or of any Subsidiary of the
      Company or any entity holding shares of Class A Common Stock or Class B Common
      Stock, as the case may be, for or pursuant to the terms of any such
      plan.

     

    (ff)  "Rights"
      shall have the meaning set forth in the recitals to this Agreement.

     

    (gg)  "Rights
      Agent" shall have the meaning set forth in the preamble of this
      Agreement.

     

    (hh)  "Rights
      Certificates" shall mean certificates evidencing the Rights, in
      substantially the form attached hereto as Exhibit B.

     

    (ii)  "Rights
      Dividend Declaration Date" shall have the meaning set forth in the recitals
      to this Agreement.

     

    (jj)  "Section
      382 Ownership Level" shall mean the percentage of the stock of the Company
      owned by one or more 5-percent shareholder (as defined in Section 382(k)(7)
      of
      the Code and the Treasury Regulations thereunder) over the lowest percentage
      of
      stock of the Company owned by such stockholders during the testing period (as
      defined in Section 382(i) of the Code and the Treasury Regulations
      thereunder).

     

    (kk)  "Securities
      Act" shall mean Securities Act of 1933, as amended.

     

    (ll)  "Stock
      Acquisition Date" shall mean the first date of public announcement (by press
      release, filing made with the Securities and Exchange Commission or otherwise),
      by the Company that a Flip-in Event has occurred.

    

    
      
        
          
          

        

        
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    (mm)  "Subsidiary"
      shall mean, with reference to any Person, any corporation or other legal entity
      of which a majority of the voting power of the voting equity securities or
      equity interests is owned, directly or indirectly, by such Person, or otherwise
      controlled by such Person.

     

    (nn)  "Summary
      of Rights " shall mean a copy of a summary of the terms of the Rights, in
      substantially the form attached hereto as Exhibit C.

     

    (oo)  "Trading
      Day" shall mean a day on which the principal national securities exchange
      on
      which the shares of Class A Common Stock are listed or admitted to trading
      is
      open for the transaction of business or, with respect to the shares of Class
      B
      Common Stock which are not listed or admitted to trading on any national
      securities exchange, a Trading Day for the Class A Common Stock.

     

    (pp)  "Treasury
      Regulations" shall mean final, temporary and proposed income
      tax  regulations promulgated under the Code, including any amendments
      thereto.

     

    Section
      2                      Appointment
      of Rights Agent

     

    The
      Company hereby appoints the Rights Agent to act as agent for the Company in
      accordance with the terms and conditions hereof, and the Rights Agent hereby
      accepts such appointment.  The Company may from time to time appoint
      such co-rights agents as it may deem necessary or desirable.  The
      Rights Agent shall have no duty to supervise, and shall in no event be liable
      for, the acts or omission of any such co-rights agent.  Prior to the
      appointment of a co-rights agent, the specific duties and obligations of each
      such co-rights agents shall be set forth in writing and delivered to the Rights
      Agent and the proposed co-rights agent.  Any actions which may be
      taken by the Rights Agent pursuant to the terms of this Agreement may be taken
      by any such co-rights agent.  To the extent that any co-rights agent
      takes any action pursuant to this Agreement, such co-rights agent shall be
      entitled to all of the rights and protections of, and subject to all of the
      applicable duties and obligations imposed upon, the Rights Agent pursuant to
      the
      terms of this Agreement.

     

    Section
      3                      Issuance
      of Rights Certificates

     

    (a)  Until
      the
      Distribution Date, (i) the Rights shall be evidenced by the certificates
      representing the shares of Class A Common Stock or Class B Common Stock,
      registered in the names of the record holders thereof (which certificates
      representing such shares of Class A Common Stock and/or Class B Common Stock
      shall also be deemed to be Rights Certificates), (ii) the Rights shall be
      transferable only in connection with the transfer of the underlying shares
      of
      Class A Common Stock and/or Class B Common Stock, and (iii) the surrender
      for transfer of any certificates representing such shares of Class A Common
      Stock and/or Class B Common Stock in respect of which Rights have been issued
      shall also constitute the transfer of the Rights associated with the shares
      of
      Class A Common Stock and/or Class B Common Stock represented by such
      certificates.

     

    (b)  On
      or as
      promptly as practicable after the Record Date, the Company shall send by first
      class, postage prepaid mail, to each record holder of shares of Class A Common
      Stock and Class B Common Stock as of the Close of Business on the Record Date,
      at the address of

    

    
      
        
          
          

        

        
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    such
      holder shown on the records of the Company as of such date, a copy of a Summary
      of Rights to Purchase Preferred Stock.

     

    (c)  Rights
      shall be issued by the Company in respect of all shares of Class A Common Stock
      and Class B Common Stock (other than any shares of Class A Common Stock and
      Class B Common Stock that may be issued upon the exercise or exchange of any
      Right) issued or delivered by the Company (whether originally issued or
      delivered from the Company's treasury) after the Record Date but prior to the
      earlier of the Distribution Date and the Expiration
      Date.  Certificates representing such shares of Class A Common Stock
      and Class B Common Stock shall have stamped on, impressed upon, printed on,
      written on, or otherwise affixed to them a legend in substantially the following
      form, or as may be required to comply with any applicable law or with any rule
      or regulation made pursuant thereto or with any rule or regulation of any stock
      exchange or transaction reporting system on which the shares of Class A Common
      Stock may from time to time be listed or quoted:

     

    This
      certificate also evidences and entitles the holder hereof to certain Rights
      as
      set forth in the Rights Agreement between Charter Communications, Inc. and
      Mellon Investor Services LLC, dated as of August 14, 2007 (the "Rights
      Agreement"), the terms of which are hereby incorporated herein by reference
      and
      a copy of which is on file at the principal executive offices of Charter
      Communications, Inc.  The Rights are not exercisable prior to the
      occurrence of certain events specified in the Rights Agreement.  Under
      certain circumstances, as set forth in the Rights Agreement, such Rights may
      be
      redeemed, may be exchanged, may expire, may be amended, or may be evidenced
      by
      separate certificates and no longer be evidenced by this
      certificate.  Charter Communications, Inc. shall mail to the holder of
      this certificate a copy of the Rights Agreement, as in effect on the date of
      mailing, without charge promptly after receipt of a written request
      therefor.  Under certain circumstances as set forth in the Rights
      Agreement, Rights that are or were beneficially owned by an Acquiring Person
      or
      any Affiliate or Associate of an Acquiring Person (as such terms are defined
      in
      the Rights Agreement) may become null and void.

     

    (d)  Any
      Rights Certificate issued pursuant to this Section 3 or Section 21 hereof that
      represents Rights beneficially owned by an Acquiring Person or any of its
      Associates or Affiliates and any Rights Certificate issued at any time upon
      the
      transfer of any Rights to an Acquiring Person or any  of its
      Associates or Affiliates or to any nominee of such Acquiring Person, Associate
      or Affiliate and any Rights Certificate issued pursuant to Section 6 or 11
      hereof upon transfer, exchange, replacement or adjustment of any other Rights
      Certificate referred to in this sentence, shall be subject to and contain a
      legend in substantially the following form or as may be required to comply
      with
      any applicable law or with any rule or regulation made pursuant thereto or
      with
      any rule or regulation of any stock exchange on which the Rights may from time
      to time be listed:

     

    The
      Rights represented by this Rights Certificate are or were beneficially owned
      by
      a Person who was an Acquiring Person or an Affiliate or an Associate of an
      Acquiring Person (as such terms are defined in the Rights
      Agreement).  This Rights Certificate and the Rights represented hereby
      may become null and void in the circumstances specified in Section 11(a)(ii)
      of
      the Rights Agreement.

    

    
      
        
          
          

        

        
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(e)    As
      promptly as
      practicable after the Distribution Date, the Company shall prepare and execute,
      the Rights Agent shall countersign and the Company shall send or cause to be
      sent, by first class, insured, postage prepaid mail, to each record holder
      of
      shares of Class A Common Stock and Class B Common Stock, as of the Close of
      Business on the Distribution Date, at the address of such holder shown on the
      records of the Company, a Rights Certificate representing one Right for each
      share of Class A Common Stock and/or Class B Common Stock so held, subject
      to
      adjustment as provided herein.  As of and after the Distribution Date,
      the Rights shall be represented solely by such Rights
      Certificates.  The Company shall promptly notify the Rights Agent in
      writing upon the occurrence of the Distribution Date and, if such notification
      is given orally, the Company shall confirm same in writing on or prior to the
      next Business Day.  Until such notice is received by the Rights Agent,
      the Rights Agent may presume conclusively that the Distribution Date has not
      occurred.

     

    (f)  In
      the
      event that the Company purchases or otherwise acquires any shares after the
      Record Date but prior to the Distribution Date, any Rights associated with
      such
      shares of Class A Common Stock and/or Class B Common Stock shall be deemed
      canceled and retired so that the Company shall not be entitled to exercise
      any
      Rights associated with the shares of Class A Common Stock and/or Class B Common
      Stock so purchased or acquired.

     

    Section
      4                      Form
      of Rights Certificates

     

    The
      Rights Certificates (and the forms of election to purchase and of assignment
      to
      be printed on the reverse thereof) shall each be substantially in the form
      attached hereto as Exhibit B with such changes and marks of
      identification or designation, and such legends, summaries or endorsements
      printed thereon as the Company may deem appropriate (but which do not affect
      the
      rights, duties or obligations of the Rights Agent as set forth in this
      Agreement) and as are not inconsistent with the provisions of this Agreement,
      or
      as may be required to comply with any applicable law or with any rule or
      regulation made pursuant thereto or with any rule or regulation of any stock
      exchange on which the Rights may from time to time be listed, or to conform
      to
      usage.  Subject to the provisions of Section 21 hereof, the Rights
      Certificates, whenever distributed, shall be dated as of the Record Date and
      on
      their face shall entitle the holders thereof to purchase such number of one
      one-thousandths of a share of Preferred Stock as is set forth therein at the
      Purchase Price; provided, however, that the Purchase Price, the
      number and kind of securities issuable upon exercise of each Right and the
      number of Rights outstanding shall be subject to adjustments as provided in
      this
      Agreement.

     

    Section
      5                      Countersignature
      and Registration

     

    (a)  The
      Rights Certificates shall be executed on behalf of the Company by its Chairman
      of the Board, its President or any Vice President, either manually or by
      facsimile signature, and shall have affixed thereto the Company's seal or a
      facsimile thereof which shall be attested by the Secretary or an Assistant
      Secretary of the Company, either manually or by facsimile
      signature.  The Rights Certificates shall be countersigned by the
      Rights Agent, either manually or by facsimile signature and shall not be valid
      for any purpose unless so countersigned.  In case any officer of the
      Company who shall have signed any of the Rights Certificates
      shall cease to be such officer of the Company before countersignature by the
      Rights Agent and issuance and delivery by the Company, such Rights Certificates,
      nevertheless, may be

    

    
      
        
          
          

        

        
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    countersigned
      by the Rights Agent and issued and delivered by the Company with the same force
      and effect as though the person who signed such Rights Certificates had not
      ceased to be such officer of the Company; and any Rights Certificates may be
      signed on behalf of the Company by any person who, at the actual date of the
      execution of such Rights Certificate, shall be a proper officer of the Company
      to sign such Rights Certificate, although at the date of the execution of this
      Agreement any such person was not such an officer.

     

    (b)  Following
      the Distribution Date, upon receipt by the Rights Agent of written notice of
      the
      occurrence of the Distribution Date pursuant to Section 3(e) hereof, a
      stockholder list and all other relevant information referred to in Section
      3(e)
      or as reasonably requested by the Rights Agent, the Rights Agent shall keep,
      or
      cause to be kept, at its office or offices designated for such purposes, books
      for registration and transfer of the Rights Certificates issued
      hereunder.  Such books shall show the names and addresses of the
      respective holders of the Rights Certificates, the number of Rights evidenced
      on
      its face by each of the Rights Certificates and the date of each of the Rights
      Certificates.

     

    Section
      6                      Transfer,
      Split-Up, Combination and Exchange of Rights Certificates; Mutilated, Destroyed,
      Lost or Stolen Rights Certificates

     

    (a)  Subject
      to the provisions of Section 7(d) and Section 13 hereof, at any time after
      the
      Close of Business on the Distribution Date, and prior to the Expiration Date,
      any Rights Certificate(s)(other than Rights Certificates representing Rights
      that may have been exchanged pursuant to Section 23 hereof) representing
      exercisable Rights may be transferred, split up, combined or exchanged for
      another Rights Certificate(s), entitling the registered holder to purchase
      a
      like number of one one-thousandths of a share of Preferred Stock (or other
      securities, cash or other assets, as the case may be) as the Rights
      Certificate(s) surrendered then entitled such holder (or former holder in the
      case of a transfer) to purchase.  Any registered holder desiring to
      transfer, split up, combine or exchange any such Rights Certificate(s) must
      make
      such request in writing delivered to the Rights Agent, and must surrender the
      Rights Certificate(s) to be transferred, split up, combined or exchanged, with
      the forms of assignment and certificate contained therein duly executed, at
      the
      office or offices of the Rights Agent designated for such
      purpose.  The Rights Certificates are transferable only on the
      registry books of the Rights Agent.  Neither the Rights Agent nor the
      Company shall be obligated to take any action whatsoever with respect to the
      transfer of any such surrendered Rights Certificate until the registered holder
      shall have (i) completed and signed the certificate contained in the form
      of assignment on the reverse side of such Rights Certificate, (ii) provided
      such additional evidence of the identity of the Beneficial Owner (or former
      Beneficial Owner) or Affiliates or Associates thereof as the Company or the
      Rights Agent shall reasonably request and (iii) paid a sum sufficient to
      cover any tax or charge that may be imposed in connection with any transfer,
      split up, combination or exchange or Rights Certificates as required by Section
      9(d) hereof.  Thereupon the Rights Agent shall countersign and deliver
      to the Person entitled thereto a Rights Certificate or Rights Certificates,
      as
      the case may be, as so requested registered in such name or names as may be
      designated by the surrendering registered holder.  The Rights Agent
      shall promptly forward any such sum collected by it to the Company or to such
      Person or Persons as the Company shall specify
      by written notice.  The Rights Agent shall have no duty or obligation
      to take any action under any Section of this Agreement which requires the
      payment by a Rights holder of applicable taxes and/or charges unless and until
      it is satisfied that all such taxes and/or charges have been
      paid.

    

    
      
        
          
          

        

        
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    (b)  Upon
      receipt by the Company and the Rights Agent of evidence satisfactory to them
      of
      the loss, theft, destruction or mutilation of a Rights Certificate, and, in
      case
      of loss, theft or destruction, of indemnity or security satisfactory to them,
      and reimbursement to the Company and the Rights Agent of all reasonable expenses
      incidental thereto, and upon surrender to the Rights Agent and cancellation
      of
      the Rights Certificate, if mutilated, the Company shall execute and deliver
      a
      new Rights Certificate of like tenor to the Rights Agent for countersignature
      and delivery to the registered owner in lieu of the Rights Certificate so lost,
      stolen, destroyed or mutilated.

     

    Section
      7                      Exercise
      of Rights; Purchase Price; Expiration Date of Rights

     

    (a)  Subject
      to Section 11(a)(ii) and Section 23 hereof, the registered holder of any Rights
      Certificate may exercise the Rights represented thereby (except as otherwise
      provided herein) in whole or in part at any time after the Distribution Date
      and
      prior to the Expiration Date, upon surrender of the Rights Certificate, with
      the
      form of election to purchase and the certificate set forth on the reverse side
      thereof properly completed and duly executed, to the Rights Agent at the office
      or offices of the Rights Agent designated for such purpose, together with
      payment in cash, in lawful money of the United States of America by certified
      check or bank draft payable to the order of the Company, equal to the sum of
      (i) the aggregate Purchase Price for the total number of one
      one-thousandths of a share of Preferred Stock (or for such shares of Class
      A
      Common Stock and/or Class B Common Stock or other securities, as the case may
      be) as to which such surrendered Rights are exercised and (ii) an amount
      equal to any applicable tax or charge required to be paid by the holder of
      such
      Rights Certificate in accordance with the provisions of Section 9(d)
      hereof.

     

    (b)  Upon
      receipt of a Rights Certificate representing exercisable Rights with the form
      of
      election to purchase and the certificate properly completed and duly executed,
      accompanied by payment of the Purchase Price for the shares to be purchased
      and
      an amount equal to any applicable tax or charge required to be paid under
      Section 9(d) hereof, the Rights Agent shall, subject to Section 19(k) hereof,
      thereupon promptly (i) (A) requisition from any transfer agent of the shares
      of
      Preferred Stock (or make available, if the Rights Agent is the transfer agent
      for such shares) certificates representing the total number of one
      one-thousandths of a share of Preferred Stock to be purchased (and the Company
      hereby irrevocably authorizes and directs its transfer agent to comply with
      all
      such requests), or (B), if the Company shall have elected to deposit any shares
      of Preferred Stock issuable upon exercise of the Rights hereunder with a
      depositary agent, requisition from the depositary agent depositary receipts
      representing such number of one one-thousandths of a share of Preferred Stock
      as
      are to be purchased (and the Company hereby irrevocably authorizes and directs
      such depositary agent to comply with all such requests), (ii) after receipt
      of such certificates (or depositary receipts, as the case may be) cause the
      same
      to be delivered to or upon the order of the registered holder of such Rights
      Certificate, registered in such name or names as may be designated by such
      holder, (iii) when appropriate, requisition from the Company or any transfer
      agent therefor of certificates representing the number of equivalent shares
      to
      be issued in lieu of the issuance of shares of Class A Common Stock or Class
      B
      Common Stock, as the case may be, in accordance with the provisions of Section
      

    

    
      
        
          
          

        

        
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    11(a)(iii),
      (iv) when appropriate, after receipt of such certificates, cause the same to
      be
      delivered to or upon the order of the registered holder of such Rights
      Certificate, registered in such name or names as may be designated by such
      holder, (v) when appropriate, requisition from the Company of the amount of
      cash to be paid in lieu of the issuance of fractional shares in accordance
      with
      the provisions of Section 13 hereof, and (vi) when appropriate, after receipt,
      deliver such cash to the registered holder of such Rights
      Certificate.

     

    (c)  In
      case
      the registered holder of any Rights Certificate shall exercise fewer than all
      the Rights evidenced thereby, the Rights Agent shall prepare, execute and
      deliver a new Rights Certificate evidencing Rights equivalent to the Rights
      remaining unexercised to the registered holder of such Rights Certificate or
      to
      his duly authorized assigns, subject to the provisions of Section 13
      hereof.

     

    (d)  Notwithstanding
      anything in this Agreement to the contrary, neither the Rights Agent nor the
      Company shall be obligated to undertake any action with respect to any purported
      transfer, split up, combination or exchange of any Rights Certificate pursuant
      to Section 6 or exercise or assignment of a Rights Certificate as set forth
      in this Section 7 unless the registered holder of such Rights Certificate shall
      have (i) properly completed and duly signed the certificate following the
      form of assignment or the form of election to purchase, as applicable, set
      forth
      on the reverse side of the Rights Certificate surrendered for such transfer,
      split up, combination, exchange, exercise or assignment and (ii) provided
      such additional evidence of the identity of the Beneficial Owner (or former
      Beneficial Owner) thereof and of the Rights evidenced thereby and Affiliates
      and
      Associates thereof as the Company or the Rights Agent may reasonably
      request.

     

    Section
      8                      Cancellation
      and Destruction of Rights Certificates

     

    All
      Rights Certificates surrendered for the purpose of exercise, transfer, split-up,
      combination or exchange shall, if surrendered to the Company or any of its
      agents, be delivered to the Rights Agent for cancellation or in cancelled form,
      or, if surrendered to the Rights Agent, shall be cancelled by it, and no Rights
      Certificates shall be issued in lieu thereof except as expressly permitted
      by
      any of the provisions of this Agreement.  The Company shall deliver to
      the Rights Agent for cancellation and retirement, and the Rights Agent shall
      so
      cancel and retire, any other Rights Certificate purchased or acquired by the
      Company otherwise than upon the exercise thereof.  The Rights Agent
      shall deliver all cancelled Rights Certificates to the Company, or shall, at
      the
      written request of the Company, destroy such cancelled Rights Certificates,
      and
      in such case shall deliver a certificate of destruction thereof to the
      Company.

     

    Section
      9                      Company
      Covenants Concerning Securities and Rights

     

    (a)  The
      Company covenants and agrees that it shall cause to be reserved, authorized
      for
      issuance and kept available out of its authorized and unissued shares of
      Preferred Stock, Class A Common Stock, Class B Common Stock and/or other
      securities, or any shares of any such security of the Company held in its
      treasury, a number of shares of Preferred Stock (or any other
      security of the Company as may be applicable at the time of exercise) that
      shall
      be sufficient to permit the exercise in full of all outstanding Rights in
      accordance with Section 7.

    

    
      
        
          
          

        

        
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(b)  So
      long
      as the shares of Preferred Stock (and, following the occurrence of a Flip-in
      Event, shares of Class A Common Stock and/or other securities) issuable upon
      the
      exercise of the Rights may be listed on any national securities exchange, or
      quoted on the Nasdaq Small Cap Market, it shall endeavor to cause, from and
      after such time as the Rights become exercisable, all securities reserved for
      issuance upon the exercise of Rights to be listed on such exchange, or quoted
      on
      the Nasdaq Small Cap Market, upon official notice of issuance upon such
      exercise.

     

     
      (c)  The
      Company shall take all such actions as may be necessary to ensure that all
      shares of Preferred Stock (and, following the occurrence of a Flip-in Event
      shares of Class A Common Stock and/or Class B Common Stock and/or other
      securities) delivered upon exercise of Rights, at the time of delivery of the
      certificates for such securities, shall be (subject to payment of the Purchase
      Price) duly authorized, validly issued, fully paid and nonassessable
      securities.

     

     
      (d)  The
      Company shall pay when due and payable any and all taxes and charges that may
      be
      payable in respect of the issuance or delivery of the Rights Certificates and
      of
      any certificates representing securities issued upon the exercise of Rights;
      provided, however, that the Company shall not be required to pay
      any tax or charge which may be payable in respect of any transfer or delivery
      of
      Rights Certificates to a person other than, or the issuance or delivery of
      certificates or depositary receipts representing securities issued upon the
      exercise of Rights in a name other than that of, the registered holder of the
      Rights Certificate evidencing Rights surrendered for exercise, or to issue
      or
      deliver any certificates or depositary receipts representing securities issued
      upon the exercise of any Rights until any such tax or charge has been paid
      (any
      such tax or charge being payable by the holder of such Rights Certificate at
      the
      time of surrender) or until it has been established to the Company's reasonable
      satisfaction that no such tax or charge is due.

     

     
      (e)  If
      the
      Company determines that registration under the Securities Act is required,
      then
      the Company shall use its commercially reasonable efforts (i) to file, as
      soon as practicable after the Distribution Date, on an appropriate form, a
      registration statement under the Securities Act with respect to the securities
      issuable upon exercise of the Rights, (ii) to cause such registration
      statement to become effective as soon as practicable after such filing and
      (iii) to cause such registration statement to remain effective (with a
      prospectus at all times meeting the requirements of the Securities Act) until
      the earlier of (A) the date as of which the Rights are no longer
      exercisable for such securities and (B) the Expiration Date.  The
      Company shall also take such action as may be appropriate under, or to ensure
      compliance with, the securities or "blue sky" laws of the various states in
      connection with the exercisability of the Rights.  The Company may
      temporarily suspend the exercisability of the Rights in order to prepare and
      file such registration statement and to permit it to become effective or to
      qualify the rights, the exercise thereof or the issuance of shares of Preferred
      Stock, Class A Common Stock, Class B Common Stock, or other securities upon
      the
      exercise thereof under state securities or "blue sky" laws.  Upon any
      such suspension, the Company shall issue a public announcement stating that
      the
      exercisability of the Rights has been temporarily suspended, as well as a public
      announcement at such time as the suspension is no longer in
      effect.  The Company shall, as promptly as practicable, notify the
      Rights Agent in writing whenever it makes a public announcement pursuant to
      this
      Section 9(e) and give the Rights Agent a copy of such
      announcement.  In addition, if the Company determines that a
      registration statement or other document should be 

    

    
      
        
          
          

        

        
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    filed
      under the Securities Act or any state securities laws following the Distribution
      Date, the Company may temporarily suspend the exercisability of the Rights
      in
      each relevant jurisdiction until such time as a registration statement has
      been
      declared effective or any such other document filed and, if required, approved,
      and, upon any such suspension, the Company shall issue a public announcement
      stating that the exercisability of the rights has been temporarily suspended,
      as
      well as a public announcement at such time as the suspension is no longer in
      effect.  Notwithstanding anything in this Agreement to the contrary,
      the Rights shall not be exercisable in any jurisdiction if the requisite
      registration or qualification in such jurisdiction has not been effected or
      the
      exercise of the Rights is not permitted under applicable law.

     

    (f)  Notwithstanding
      anything in this Agreement to the contrary, after the Distribution Date, the
      Company shall not take (or permit any Subsidiary to take) any action if at
      the
      time such action is taken it is reasonably foreseeable that such action shall
      eliminate or otherwise diminish the benefits intended to be afforded by the
      Rights.

     

    (g)  In
      the
      event that the Company is obligated to issue other securities of the Company
      and/or pay cash pursuant to Sections 7, 11, 13 or 23 it shall make all
      arrangements necessary so that such other securities and/or cash are available
      for distribution by the Rights Agent, if and when necessary to comply with
      this
      Agreement.

     

    Section
      10                                Record
      Date

     

    Each
      person in whose name any certificate for a number of one one-thousandths of
      a
      share of Preferred Stock (or Class A Common Stock, and/or Class B Common Stock
      and/or other securities, as the case may be) is issued upon the exercise of
      Rights shall for all purposes be deemed to have become the holder of record
      of
      such shares of Preferred Stock (or Class A Common Stock, and/or Class B Common
      Stock and/or other securities, as the case may be) represented thereby on,
      and
      such certificate shall be dated, the date upon which the Rights Certificate
      representing such Rights was duly surrendered and payment of the Purchase Price
      (and all applicable taxes and charges) was made; provided,
however, that if the date of such surrender and payment is a date
      upon
      which the transfer books of the Company for shares of Preferred Stock (or Class
      A Common Stock and/or Class B Common Stock and/or other securities, as the
      case
      may be) are closed, such Person shall be deemed to have become the record holder
      of such securities on, and such certificate shall be dated, the next succeeding
      Business Day on which the transfer books of the Company are
      open.  Prior to the exercise of the Rights evidenced thereby, the
      holder of a Rights Certificate shall not be entitled to any rights of a
      stockholder of the Company with respect to shares for which the Rights shall
      be
      exercisable, including, without limitation, the right to vote, to receive
      dividends or other distributions or to exercise any preemptive rights, and
      shall
      not be entitled to receive any notice of any proceedings of the Company, except
      as provided herein.

     

    
      Section
        11     Adjustment of
        Purchase Price, Number and Kind of
        Securities                               or
        Number of Rights

       

      The
        Purchase Price, the number and kind of shares, or fractions thereof, covered
        by
        each Right and the number of Rights outstanding are subject to adjustment
        from
        time to time as provided in this Section 11.

    

    

    
      
        
          
          

        

        
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    (a)  (i)           In
      the event that the Company at any time after the Record Date (A) declares a
      dividend on the shares of Preferred Stock payable in shares of Preferred Stock,
      (B) subdivides the outstanding shares of Preferred Stock, (C) combines the
      outstanding shares of Preferred Stock into a smaller number of shares of
      Preferred Stock, or (D) issues any shares of its capital stock in a
      reclassification of the shares of Preferred Stock (including any such
      reclassification in connection with a consolidation or merger in which the
      Company is the continuing or surviving corporation), except as otherwise
      provided in this Section 11(a), the Purchase Price in effect at the time of
      the
      record date for such dividend or of the effective date of such subdivision,
      combination or reclassification, and/or the number and/or kind of shares of
      capital stock issuable on such date upon exercise of a Right, shall be
      proportionately adjusted so that the holder of any Right exercised after such
      time shall be entitled to receive, upon payment of the Purchase Price then
      in
      effect the aggregate number and kind of shares of capital stock which, if such
      Right had been exercised immediately prior to such date and at a time when
      the
      transfer books of the Company for the shares of Preferred Stock were open,
      the
      holder of such Right would have owned upon such exercise (and, in the case
      of a
      reclassification, would have retained after giving effect to such
      reclassification) and would have been entitled to receive by virtue of such
      dividend, subdivision, combination or reclassification; provided,
however, that in no event shall the consideration to be paid upon
      the
      exercise of one Right be less than the aggregate par value of the shares of
      capital stock issuable upon exercise of one Right.  If an event occurs
      which would require an adjustment under both this Section 11(a)(i) and Section
      11(a)(ii) hereof, the adjustment provided for in this Section 11(a)(i) shall
      be
      in addition to, and shall be made prior to, any adjustment required pursuant
      to
      Section 11(a)(ii) hereof.

     

    (ii)  Subject
      to the provisions of Section 23 hereof, if any Person becomes an Acquiring
      Person (a "Flip-in Event"), then, after the Distribution Date, each
      holder of a Right, except as provided below, shall have the right to receive,
      upon exercise thereof at the then current Purchase Price as adjusted by this
      Section 11(a)(ii),  such number of shares of Class A Common Stock or
      Class B Common Stock, as the case may be, as equals five (5) times the number
      of
      one one-thousandths of a share of Preferred Stock for which a Right was
      exercisable immediately prior to the Flip-in Event. After the occurrence of
      a
      Flip-In Event, Rights will no longer be exercisable for the purchase of
      Preferred Stock.  The Purchase Price shall be so adjusted such that
      the price per share of Class A Common Stock or Class B Common Stock into which
      the Rights are exercisable immediately after a Flip-in Event has occurred shall
      be the lesser of (x) 50% of the Current Per Share Market Price of the Company's
      Class A Common Stock (determined pursuant to Section 11(d) hereof) on the date
      of such Flip-in Event or (y) 50% of the average of the daily closing price
      per
      share of a share of Class A Common Stock for the ten (10) consecutive Trading
      Days immediately following the Stock Acquisition Date.  

     

            Notwithstanding
      anything in this Agreement to the contrary, from and after the time any Flip-in
      Event has occurred, any Rights that are Beneficially Owned by (A) any Acquiring
      Person (or any Affiliate or Associate of any Acquiring Person), (B) a transferee
      of any Acquiring Person (or any such Affiliate or Associate) who becomes a
      transferee after an Acquiring Person becomes such, or (C) a transferee of any
      Acquiring Person (or any such Affiliate or Associate) who became a transferee
      prior to or concurrently with an Acquiring Person becomes such, and receives
      such Rights pursuant to either (1) a transfer from an Acquiring Person to
      holders of its equity securities or to any Person with whom it has any
      continuing agreement, arrangement or understanding regarding the transferred
      Rights or (2) a 

    
      
        
          
          

        

        
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    transfer
      which the Board has determined is part of a plan, arrangement or understanding
      which has the purpose or effect of avoiding the provisions of this Section
      11(a)(ii), and subsequent transferees of any of such Persons, shall be void
      without any further action and any holder of such Rights shall thereafter have
      no rights whatsoever with respect to such Rights under any provision of this
      Agreement.  The Company shall give the Rights Agent written notice of
      the identity of any Acquiring Person or any Affiliates or Associates thereof,
      or
      any transferee of any of the foregoing, and the Rights Agent may rely on such
      notice in carrying out its duties under this Agreement and shall be deemed
      not
      to have any knowledge of the identity of any such Acquiring Person or any
      Affiliates or Associates thereof, or any transferee of any of the foregoing,
      unless and until it shall have received such notice.  The Company
      shall as promptly as practicable use all reasonable efforts to ensure that
      the
      provisions of this Section 11(a)(ii) are complied with, but neither the Company
      nor the Rights Agent shall have any  liability to any holder of Rights
      Certificates or any other Person as a result of its failure to make any
      determinations with respect to an Acquiring Person or any Affiliates and
      Associates thereof or any transferee of any of them hereunder.

     

    (iii)  If
      upon
      the occurrence of a Flip-in Event, there are not sufficient shares of Class
      A
      Common Stock and/or Class B Common Stock, as the case may be, authorized but
      unissued or issued but not outstanding to permit the issuance of all the shares
      of Class A Common Stock and/or Class B Common Stock, as the case may be,
      issuable in accordance with Section 11(a)(ii) hereof upon the exercise in full
      of the Rights, the Company shall authorize and, subject to the provisions of
      Section 9(e), make available for issuance other equity securities of the Company
      having equivalent voting rights and an equivalent value (as determined in good
      faith by the Board) to the shares of Class A Common Stock and/or Class B Common
      Stock, as the case may be, (for purposes of this Section 11(a)(iii) these other
      equity securities shall hereinafter be referred to as "Equivalent Common
      Stock").  In the event that shares of Equivalent Common Stock are
      so authorized, upon the exercise of a Right in accordance with the provisions
      of
      Section 7 hereof, the registered holder shall be entitled to receive (A) shares
      of Class A Common Stock and/or Class B Common Stock, as the case may be, to
      the
      extent any are available, and (B) a number of shares of Equivalent Common Stock,
      which the Board has determined in good faith to have a value equivalent to
      the
      excess of (w) the aggregate current per share market value on the date of the
      Flip-in Event, of all the shares of Class A Common Stock and Class B Common
      Stock issuable in accordance with Section 11(a)(ii) upon the exercise of a
      Right
      (the "Exercise Value") over (x) the aggregate current per share market
      value on the date of the Flip-in Event, of any shares of Class A Common Stock
      and/or Class B Common Stock available for issuance upon the exercise of such
      Right; provided, however, that if at any time after 90 calendar
      days after the Distribution Date, there are not sufficient shares of Class
      A
      Common Stock, Class B Common Stock and/or Equivalent Common Stock available
      for
      issuance upon the exercise of a Right, then the Company shall be obligated
      to
      deliver, upon the surrender of such Right, shares of Class A Common Stock and
      Class B Common Stock (to the extent available), Equivalent Common Stock (to
      the
      extent available) and then cash (to the extent permitted by applicable law
      and
      any agreements or instruments to which the Company is a party in effect
      immediately prior to the Stock Acquisition Date), which securities and cash
      have
      an aggregate value equal to the excess of (y) the Exercise Value over (z) the
      product of the then-current Purchase Price multiplied by the number of one
      one-thousandths of a share of a Preferred Stock for which a Right was
      exercisable immediately prior to the Flip-in Event.  To the extent
      that any legal or contractual restrictions prevent the Company from paying
      the
      full amount of 

    

    
      
        
          
          

        

        
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    cash
      payable in accordance with the foregoing sentence, the Company shall pay to
      holders of the Rights as to which such payments are being made all amounts
      which
      are not then restricted on a pro rata basis and shall continue to make payments
      on a pro rata basis as promptly as funds become available until the full amount
      due to each such Rights holder has been paid.

     

    (b)  If
      the
      Company shall fix a record date for the issuance of rights, options or warrants
      to all holders of shares of Preferred Stock entitling them to subscribe for
      or
      purchase shares of Preferred Stock (or securities having equivalent rights,
      privileges and preferences as the shares of Preferred Stock (for purposes of
      this Section 11(b), "Equivalent Preferred Stock")) or securities
      convertible into shares of Preferred Stock or Equivalent Preferred Stock at
      a
      price per share of Preferred Stock or Equivalent Preferred Stock (or having
      a
      conversion price per share, if a security convertible into shares of Preferred
      Stock or Equivalent Preferred Stock) less than the Current Per Share Market
      Price of the shares of Preferred Stock (determined pursuant to Section 11(d))
      on
      such record date, the Purchase Price to be in effect after such record date
      shall be determined by multiplying the Purchase Price in effect immediately
      prior to such record date by a fraction, the numerator of which is the number
      of
      shares of Preferred Stock outstanding on such record date plus the number of
      shares of Preferred Stock which the aggregate offering price of the total number
      of shares of Preferred Stock and/or Equivalent Preferred Stock so to be offered
      (and/or the aggregate initial conversion price of the convertible securities
      so
      to be offered) would purchase at such Current Per Share Market Price and the
      denominator of which is the number of shares of Preferred Stock outstanding
      on
      such record date plus the number of additional shares of Preferred Stock and/or
      Equivalent Preferred Shares to be offered for subscription or purchase (or
      into
      which the convertible securities so to be offered are initially convertible);
      provided, however, that in no event shall the consideration to be
      paid upon the exercise of one Right be less than the aggregate par value of
      the
      shares of capital stock issuable upon exercise of one Right.  In case
      such subscription price may be paid in a consideration part or all of which
      is
      in a form other than cash, the value of such consideration shall be as
      determined in good faith by the Board, whose determination shall be described
      in
      a written statement filed with the Rights Agent.  Shares of Preferred
      Stock owned by or held for the account of the Company shall not be deemed
      outstanding for the purpose of any such computation.  Such adjustment
      shall be made successively whenever such a record date is fixed, and in the
      event that such rights, options or warrants are not so issued, the Purchase
      Price shall be adjusted to be the Purchase Price which would then be in effect
      if such record date had not been fixed.

     

        (c)  If
      the
      Company shall fix a record date for the making of a distribution to all holders
      of shares of Preferred Stock (including any such distribution in connection
      with
      a consolidation or merger in which the Company is the continuing or surviving
      corporation) of evidences of indebtedness, cash (other than a regular periodic
      cash dividend), assets, stock (other than a dividend payable in shares of
      Preferred Stock) or subscription rights, options or warrants (excluding those
      referred to in Section 11(b)), the Purchase Price to be in effect after such
      record date shall be determined by multiplying the Purchase Price in effect
      immediately prior to such record date by a fraction, the numerator of which
      is
      the Current Per Share Market Price of the shares of Preferred Stock (as
      determined pursuant to Section 11(d)) on such record date or, if earlier, the
      date on which shares of Preferred Stock begin to trade on an ex-dividend or
      when
      issued basis for such distribution, less the fair market value (as determined
      in
      good faith by the Board, whose determination shall be described in a written
      statement filed with the Rights 

    
      
        
          
          

        

        
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    Agent)
      of
      the portion of the evidences of indebtedness, cash, assets or stock so to be
      distributed or of such subscription rights, options or warrants applicable
      to
      one share of Preferred Stock, and the denominator of which is such Current
      Per
      Share Market Price of the shares of Preferred Stock; provided,
however, that in no event shall the consideration to be paid upon
      the
      exercise of one Right but less than the aggregate par value of the shares of
      capital stock issuable upon exercise of one Right.  Such adjustments
      shall be made successively whenever such a record date is fixed; and in the
      event that such distribution is not so made, the Purchase Price shall again
      be
      adjusted to be the Purchase Price which would then be in effect if such record
      date had not been fixed.

     

    (d)  (i)           For
      the purpose of any computation hereunder, the "Current Per Share Market
      Price" of any security (a "Security" for purposes of this Section 11(d)(i)
      only) on any date shall be deemed to be the average of the daily closing prices
      per share of a share of the Class A Common Stock for the 30 consecutive Trading
      Days immediately prior to, but not including, such date; provided,
however, that in the event that the Current Per Share Market Price
      of the
      Security is determined during a period following the announcement by the issuer
      of such Security of (A) a dividend or distribution on such Security payable
      in
      shares of such Security or securities convertible into such shares, or (B)
      any
      subdivision, combination or reclassification of such Security, and prior to
      the
      expiration of 30 Trading Days after, but not including, the ex-dividend date
      for
      such dividend or distribution, or the record date for such subdivision,
      combination or reclassification, then, and in each such case, the Current Per
      Share Market Price shall be appropriately adjusted to take into account
      ex-dividend trading or to reflect the current per share market price per share
      equivalent of such Security.  The closing price for each day shall be
      the last sale price, regular way, or, in case no such sale takes place on such
      day, the average of the closing bid and asked prices, regular way, in either
      case as reported in the principal consolidated transaction reporting system
      with
      respect to securities listed or admitted to trading on the Nasdaq Global Market
      or, if the Security is not listed or admitted to trading on the Nasdaq Global
      Market, as reported in the principal consolidated transaction reporting system
      with respect to securities listed on the principal national securities exchange
      on which the Security is listed or admitted to trading or, if the Security
      is
      not listed or admitted to trading on any national securities exchange, the
      last
      quoted price or, if not so quoted, the average of the high bid and low asked
      prices in the over-the-counter market, as reported by Nasdaq Stock Market Inc.
      or such other system then in use, or, if on any such date Security is not quoted
      by any such organization, the average of the closing bid and asked prices as
      furnished by a professional market maker making
      a
      market in the Security selected by the Board.  If the Security is not
      publicly held or not so listed or traded, or is not the subject of available
      bid
      and asked quotes, the Current Per Share Market Price of such Security shall
      mean
      the fair value per share as determined in good faith by the Board, whose
      determination shall be described in a statement filed with the Rights
      Agent.
       

      (i)  For
        the
        purpose of any computation hereunder, the "Current Per Share Market
        Price" of shares of the Preferred Stock shall be determined in accordance
        with the method set forth in Section 11(d)(i).  If the Current Per
        Share Market Price of Preferred Stock cannot be determined in the manner
        provided above, it shall be conclusively deemed to be an amount equal to
        the
        current per share market price of the shares of Class A Common Stock multiplied
        by one thousand (as such number may be appropriately adjusted to reflect
        events
        such as stock splits, stock dividends, recapitalizations or similar transactions
        relating to the shares of Class A

    

    

    
      
        
          
          

        

        
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    Common
      Stock occurring after the date of this Agreement).  If neither the
      Class A Common Stock, Class B Common Stock nor the Preferred Stock are publicly
      held or so listed or traded, or the subject of available bid and asked quotes,
      "Current Per Share Market Price" of the Preferred Stock shall mean the fair
      value per share as determined in good faith by the Board, whose determination
      shall be described in a statement filed with the Rights Agent.

     

    (e)  Except
      as
      set forth below, no adjustment in the Purchase Price shall be required unless
      such adjustment would require an increase or decrease of at least 1% in such
      price; provided, however, that any adjustments which by reason of
      this Section 11(e) are not required to be made shall be carried forward and
      taken into account in any subsequent adjustment.  All calculations
      under this Section 11 shall be made to the nearest cent or to the nearest one
      one-millionth of a share of Preferred Stock or one ten-thousandth of a share
      of
      a Class A Common Stock or Class B Common Stock or other security, as the case
      may be.  Notwithstanding the first sentence of this Section 11(e), any
      adjustment required by this Section 11 shall be made no later than the earlier
      of (i) three years from the date of the transaction which requires such
      adjustment and (ii) the Expiration Date.

     

    (f)  If
      as a
      result of an adjustment made pursuant to Section 11(a), the holder of any Right
      thereafter exercised becomes entitled to receive any securities of the Company
      other than shares of Preferred Stock, thereafter the number and/or kind of
      such
      other securities so receivable upon exercise of any Right (and/or the Purchase
      Price in respect thereof) shall be subject to adjustment from time to time
      in a
      manner and on terms as nearly equivalent as practicable to the provisions with
      respect to the shares of Preferred Stock (and the Purchase Price in respect
      thereof) contained in this Section 11, and the provisions of Sections 7, 9,
      10
      and 13 with respect to the shares of Preferred Stock (and the Purchase Price
      in
      respect thereof) shall apply on like terms to any such other securities (and
      the
      Purchase Price in respect thereof).

     

    (g)  All
      Rights originally issued by the Company subsequent to any adjustment made to
      the
      Purchase Price hereunder shall evidence the right to purchase, at the adjusted
      Purchase Price, the number of one one-thousandths of a share of Preferred Stock
      issuable from time to time hereunder upon exercise of the Rights, all subject
      to
      further adjustment as provided herein.

     

    
      (h)  Unless
        the Company has exercised its election as provided in Section 11(i), upon
        each
        adjustment of the Purchase Price pursuant to Section 11(b) or Section 11(c),
        each Right outstanding immediately prior to the making of such adjustment
        shall
        evidence the right to purchase, at the adjusted Purchase Price, that number
        of
        one one-thousandths of a share of Preferred Stock (calculated to the nearest
        one
        one-millionth of a share of Preferred Stock) obtained by (i) multiplying
        (x) the
        number of one one-thousandths of a share of Preferred Stock issuable upon
        exercise of a Right immediately prior to such adjustment of the Purchase
        Price
        by (y) the Purchase Price in effect immediately prior to such adjustment
        of the
        Purchase Price and (ii) dividing the product so obtained by the Purchase
        Price
        in effect immediately after such adjustment of the Purchase Price.

       

      (i)  The
        Company may elect, on or after the date of any adjustment of the Purchase
        Price,
        to adjust the number of Rights in substitution for any adjustment in the
        number
        of one one-thousandths of a share of Preferred Stock issuable upon the exercise
        of a Right.  Each of the Rights outstanding after such adjustment of
        the number of Rights shall be exercisable for the number of one one-thousandths
        of a share of Preferred Stock for which a Right was exercisable

    

    
      
        
          
          

        

        
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    immediately
      prior to such adjustment.  Each Right held of record prior to such
      adjustment of the number of Rights shall become that number of Rights
      (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase
      Price in effect immediately prior to adjustment of the Purchase Price by the
      Purchase Price in effect immediately after adjustment of the Purchase
      Price.  The Company shall make a public announcement of its election
      to adjust the number of Rights, indicating the record date for the adjustment,
      and, if known at the time, the amount of the adjustment to be
      made.  The Company shall also, as promptly as practicable, notify the
      Rights Agent in writing of same pursuant to Section 9(e) hereof and give the
      Rights Agent a copy of such announcement.  Such record date may be the
      date on which the Purchase Price is adjusted or any day thereafter, but if
      the
      Rights Certificates have been issued, such record date shall be at least 10
      calendar days later than the date of the public announcement.  If
      Rights Certificates have been issued, upon each adjustment of the number of
      Rights pursuant to this Section 11(i), the Company shall, as promptly as
      practicable, cause to be distributed to holders of record of Rights Certificates
      on such record date Rights Certificates evidencing, subject to the provision
      of
      Section 14, the additional Rights to which such holders are entitled as a result
      of such adjustment, or, at the option of the Company, shall cause to be
      distributed to such holders of record in substitution and replacement for the
      Rights Certificates held by such holders prior to the date of adjustment, and
      upon surrender thereof if required by the Company, new Rights Certificates
      evidencing all the Rights to which such holders are entitled after such
      adjustment.  Rights Certificates so to be distributed shall be issued,
      executed, and countersigned in the manner provided for herein (and may bear,
      at
      the option of the Company, the adjusted Purchase Price) and shall be registered
      in the names of the holders of record of Rights Certificates on the record
      date
      specified in the public announcement.

     

    (j)  Without
      respect to any adjustment or change in the Purchase Price and/or the number
      and/or kind of securities issuable upon the exercise of the Rights, the Rights
      Certificates theretofore and thereafter issued may continue to express the
      Purchase Price and the number and kind of securities which were expressed in
      the
      initial Rights Certificate issued hereunder.

     

    
      (k)  Before
        taking any action that would cause an adjustment reducing the Purchase Price
        below one one-thousandth of the then par value, if any, of the shares of
        Preferred Stock or below the then par value, if any, of any other securities
        of
        the Company issuable upon exercise of the Rights, the Company shall take
        any
        corporate action which may, in the opinion of its counsel, be necessary in
        order
        that the Company may validly and legally issue fully paid and nonassessable
        shares of Preferred Stock or such other securities, as the case may be, at
        such
        adjusted Purchase Price.

       

      (l)  In
        any
        case in which this Section 11 otherwise requires that an adjustment in the
        Purchase Price be made effective as of a record date for a specified event,
        the
        Company may elect (with written notice of such election to the Rights Agent
        as
        promptly as practicable) to defer until the occurrence of such event the
        issuance to the holder of any Right exercised after such record date the
        number
        of one one-thousandths of a share of Preferred Stock or other securities
        of the
        Company, if any, issuable upon such exercise over and above the number of
        one
        one-thousandths of a share of Preferred Stock or other securities of the
        Company, if any, issuable upon such exercise on the basis of the Purchase
        Price
        in effect prior to such adjustment; provided, however, that the
        Company delivers to such holder a due bill or other appropriate

    

    
      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

    

    

    instrument
      evidencing such holder's right to receive such additional shares of Preferred
      Stock or other securities upon the occurrence of the event requiring such
      adjustment.

     

    (m)  Notwithstanding
      anything in this Agreement to the contrary, the Company shall be entitled to
      make such reductions in the Purchase Price, in addition to those adjustments
      expressly required by this Section 11, as and to the extent that in its good
      faith judgment the Board determines to be advisable in order that any (i)
      consolidation or subdivision of the shares of Preferred Stock, (ii) issuance
      wholly for cash of shares of Preferred Stock at less than the Current Per Share
      Market Price therefor, (iii) issuance wholly for cash of shares of Preferred
      Stock or securities which by their terms are convertible into or exchangeable
      for shares of Preferred Stock, (iv) stock dividends or (v) issuance of rights,
      options or warrants referred to in this Section 11, hereafter made by the
      Company to holders of its shares of Preferred Stock is not taxable to such
      stockholders.

     

    (n)  Notwithstanding
      anything in this Agreement to the contrary, in the event that the Company at
      any
      time after the Record Date prior to the Distribution Date (i) pays a dividend
      on
      the outstanding shares of Class A Common Stock and Class B Common Stock
      payable in shares of Class A Common Stock and Class B Common Stock,
      respectively, (ii) subdivides the outstanding shares of Class A Common
      Stock and Class B Common Stock, (iii) combines the outstanding shares of
      Class A Common Stock and Class B Common Stock into a smaller number of
      shares or (iv) issues any shares of its capital stock in a reclassification
      of
      the outstanding shares of Class A Common Stock and Class B Common Stock
      (including any such reclassification in connection with a consolidation or
      merger in which the Company is the continuing or surviving corporation), the
      number of Rights associated with each share of Class A Common Stock and
      each share of Class B Common Stock then outstanding, or issued or delivered
      thereafter but prior to the Distribution Date, shall be proportionately adjusted
      so that the number of Rights thereafter associated with each share of
      Class A Common Stock and each share of Class B Common Stock following any
      such event equals the result obtained by multiplying the number of Rights
      associated with each share of Class A Common Stock or Class

     

    
      B
        Common
        Stock, as applicable, immediately prior to such event by a fraction the
        numerator of which is the total number of shares of Class A Common Stock or
        Class B Common Stock, as applicable, outstanding immediately prior to the
        occurrence of the event and the denominator of which is the total number
        of
        shares of Class A Common Stock or Class B Common Stock, as the case may be,
        outstanding immediately following the occurrence of such event.  The
        adjustments provided for in this Section 11(n) shall be made successively
        whenever such a dividend is paid or such a subdivision, combination or
        reclassification is effected.

       

      Section
        12                                Certificate
        of Adjusted Purchase Price or Number of Shares

       

      Whenever
        an adjustment is made or any event affecting the Rights or their exercisability
        (including without limitation an event which causes Rights to become null
        and
        void) occurs as provided in Section 11, the Company shall promptly (a) prepare
        a
        certificate setting forth such adjustment and a brief statement of the facts
        and
        calculations accounting for such adjustment or describing such event, (b)
        file
        with the Rights Agent, and with each transfer agent for the shares of Preferred
        Stock and the shares of Class A Common Stock and Class B Common Stock, a
        copy of
        such certificate, and (c) mail a brief summary thereof to each holder of
        a
        Rights Certificate.  The Rights Agent shall be fully protected in
        relying on any such certificate and on any 

    

    
      
        
          
          

        

        
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    adjustment
      or statement contained therein and shall have no duty or liability with respect
      to and shall not be deemed to have knowledge of such adjustment or event unless
      and until it shall have received such certificate, provided,
however, that the Rights Agent will not be entitled to such protection
      in
      cases of bad faith or willful misconduct.

     

    Section
      13                                Fractional
      Rights and Fractional Shares

     

    (a)  The
      Company shall not be required to issue fractions of Rights or to distribute
      Rights Certificates which evidence fractional Rights.  In lieu of such
      fractional Rights, the Company shall pay to the registered holders of the Rights
      Certificates with regard to which such fractional Rights would otherwise be
      issuable, an amount in cash equal to the same fraction of the current market
      value of one Right.  For purposes of this Section 13(a), the current
      market value of one Right shall be the closing price of the Rights for the
      Trading Day immediately prior to the date on which such fractional Rights would
      have been otherwise issuable.  The closing price for any Trading Day
      shall be the last sale price, regular way, or, in case no such sale takes place
      on such day, the average of the closing bid and asked prices, regular way,
      in
      either case as reported in the principal consolidated transaction reporting
      system with respect to securities listed or admitted to trading on the Nasdaq
      Global Market, or if the Rights are not listed or admitted to trading on any
      national securities exchange, the last quoted price or, if not so quoted, the
      average of the high bid and low asked prices in the over-the-counter market,
      as
      reported by the Nasdaq Stock Market Inc. or such other system then in use or,
      if
      on any such date the Rights are not quoted by any such organization, the average
      of the closing bid and asked prices as furnished by a professional market maker
      making a market in the Rights, selected by the Board.  If the Rights
      are not publicly held or are not so listed or traded, or are not the subject
      of
      available bid and asked quotes, the current market value of one Right shall
      mean
      the fair value thereof as determined in good faith by the Board, whose
      determination shall be described in a statement filed with the Rights
      Agent.

     

    
      (b)  The
        Company shall not be required to issue fractions of shares of Preferred Stock
        (other than fractions which are integral multiples of one one-thousandth
        of a
        share of Preferred Stock) upon exercise of the Rights or to distribute
        certificates which evidence fractional shares of Preferred Stock (other than
        fractions which are integral multiples of one one-thousandth of a share of
        Preferred Stock).  In lieu of fractional shares of Preferred Stock
        that are not integral multiples of one one-thousandth of a share of Preferred
        Stock, the Company may pay to the registered holders of Rights Certificates
        at
        the time such Rights are exercised as herein provided an amount in cash equal
        to
        the same fraction of the current market value of one one-thousandth of a
        share
        of Preferred Stock.  For purposes of this Section 13(b), the current
        market value of one one-thousandth of a share of Preferred Stock shall be
        one
        one-thousandth of the closing price of a share of Preferred Stock (as determined
        pursuant to Section 11(d)(ii) hereof) for the Trading Day immediately prior
        to
        the date of such exercise; provided, however, that if the closing
        price of the shares of the Preferred Stock cannot be so determined, the closing
        price of the shares of the Preferred Stock for such Trading Day shall be
        conclusively deemed to be an amount equal to the closing price of the shares
        of
        Class A Common Stock shares for such Trading Day multiplied by one thousand
        (as
        such number may be appropriately adjusted to reflect events such as stock
        splits, stock dividends, recapitalizations or similar transactions relating
        to
        the Class A Common Stock shares occurring after the date of this
        Agreement).

    
      
        
          
          

        

        
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    (c)  Following
      the occurrence of a Flip-in Event, the Company shall not be required to issue
      fractions of shares of Class A Common Stock or Class B Common Stock, as the
      case
      may be, upon exercise of the Rights or to distribute certificates which evidence
      fractional shares of Class A Common Stock or Class B Common Stock, as the case
      may be.  In lieu of issuing any such fractional securities, the
      Company may pay to any Person to whom or which such fractional securities would
      otherwise be issuable an amount in cash equal to the same fraction of the
      current market value of one such security.  For purposes of this
      Section 13(c), the current market value of one share of Class A Common Stock,
      or
      other security issuable upon the exercise or exchange of Rights shall be the
      closing price thereof (as determined pursuant to Section 11(d)(i) hereof) on
      the
      Trading Day immediately prior to the date of such exercise or
      exchange.

     

    (d)  The
      holder of a Right by the acceptance of the Rights expressly waives his right
      to
      receive any fractional Rights or any fractional shares upon exercise of a Right,
      except as permitted by this Section 13.

     

    (e)  Whenever
      a payment for fractional Rights or fractional shares is to be made by the Rights
      Agent upon exercise of a Right, the Company shall (i) as promptly as practicable
      prepare and deliver to the Rights Agent a certificate setting forth in
      reasonable detail the facts related to such payments and the prices and/or
      formulas utilized in calculating such payments, and (ii) provide immediately
      available funds to the Rights Agent sufficient to make such
      payments.  The Rights Agent shall be fully protected in relying upon
      such a certificate and shall have no duty with respect to, and shall not be
      deemed to have knowledge of any payment for fractional Rights or fractional
      shares under any Section of this Agreement relating to the payment of fractional
      Rights or fractional shares unless and until the Rights Agent shall have
      received such a certificate and funds, provided, however, that the
      Rights Agent will not be entitled to such protection in cases of bad faith
      or
      willful misconduct.

     

    
      Section
        14    Rights of
        Action

       

      (a)           All
        rights of action in respect of this Agreement, excepting the rights of action
        given to the Rights Agent hereunder, are vested in the respective registered
        holders of the Rights Certificates (and, prior to the Distribution Date,
        the
        registered holders of shares of Class A Common Stock and Class B Common Stock);
        and any registered holder of any Rights Certificate (or, prior to the
        Distribution Date, of the shares of Class A Common Stock and Class B Common
        Stock), without the consent of the Rights Agent or of the holder of any other
        Rights Certificate (or, prior to the Distribution Date, of the shares of
        Class A
        Common Stock or Class B Common Stock), may, in his own behalf and for his
        own
        benefit, enforce, and may institute and maintain any suit, action or proceeding
        against the Company to enforce, or otherwise act in respect of, his right
        to
        exercise the Rights evidenced by such Rights Certificate in the manner provided
        in such Rights Certificate and in this Agreement.  Without limiting
        the foregoing or any remedies available to the holders of Rights, it is
        specifically acknowledged that the holders of Rights would not have an adequate
        remedy at law for any breach of this Agreement and shall be entitled to specific
        performance of the obligations hereunder and injunctive relief against actual
        or
        threatened violations of the obligations hereunder of any Person subject
        to this
        Agreement.

       

      (b)           Notwithstanding
        anything in this Agreement to the contrary, neither the Company nor the Rights
        Agent shall have any liability to any holder of a Right or other Person as
        a
        result

    

    
      
        
          
          

        

        
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    of
      its
      inability to perform any of its obligations under this Agreement by reason
      of
      any preliminary or permanent injunction or other order, judgment, decree or
      ruling (whether interlocutory or final) issued by a court of competent
      jurisdiction or by a governmental regulatory, self-regulatory or administrative
      agency or commission, or any statute, rule, regulation, or executive order
      promulgated or enacted by any governmental authority, prohibiting or otherwise
      restraining performance of such obligation; provided, however that
      the Company shall use commercially reasonable efforts to have any such
      injunction, order, judgment, decree or ruling lifted or otherwise overturned
      as
      soon as possible.

     

    Section
      15                                Agreement
      of Rights Holders

     

    Every
      holder of a Right by accepting the same consents and agrees with the Company
      and
      the Rights Agent and with every other holder of a Right that:

     

    (a)  prior
      to
      the Distribution Date, the Rights shall be transferable only in connection
      with
      the transfer of shares of Class A Common Stock or Class B Common
      Stock;

     

    (b)  after
      the
      Distribution Date, the Rights Certificates are transferable only on the registry
      books of the Rights Agent if surrendered at the principal office or offices
      of
      the Rights Agent designated for such purposes, duly endorsed or accompanied
      by a
      proper instrument of transfer and with the appropriate forms and certificates
      fully executed;

     

    (c)  the
      Company and the Rights Agent may deem and treat the person in whose name a
      Rights Certificate (or, prior to the Distribution Date, the associated Class
      A
      Common Stock or Class B Common Stock share certificate) is registered as the
      absolute owner thereof and of the Rights evidenced thereby (notwithstanding
      any
      notations of ownership or writing on the Rights Certificates or the associated
      Class A Common Stock or Class B Common Stock share certificate

     

    
      made
        by
        anyone other than the Company or the Rights Agent) for all purposes whatsoever,
        and neither the Company nor the Rights Agent shall be affected by any notice
        to
        the contrary; and

       

      (d)  such
        holder expressly waives any right to receive any fractional Rights and any
        fractional securities upon exercise or exchange of a Right, except as otherwise
        provided in Section 13.

       

      Section
        16                                Rights
        Certificate Holder Not Deemed a Stockholder

       

      No
        holder, as such, of any Rights Certificate shall be entitled to vote, receive
        dividends or be deemed for any purpose the holder of the number of one
        one-thousandths of a share of Preferred Stock or any other securities of
        the
        Company which may at any time be issuable on the exercise of the Rights
        represented thereby, nor shall anything contained herein or in any Rights
        Certificate be construed to confer upon the holder of any Rights Certificate,
        as
        such, any of the rights of a stockholder of the Company or any right to vote
        for
        the election of directors or upon any matter submitted to stockholders at
        any
        meeting thereof, or to give or withhold consent to any corporate action,
        or to
        receive notice of meetings or other actions affecting stockholders (except
        as
        provided in Section 24 hereof), or to receive dividends or subscription rights,
        or otherwise, until the Right or Rights evidenced by such Rights Certificate
        shall have been exercised in accordance with the provisions
        hereof.

    
      
        
          
          

        

        
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    Section
      17                                Concerning
      the Rights Agent

     

    (a)  The
      Company shall pay to the Rights Agent reasonable compensation for all services
      rendered by it hereunder and, from time to time, on demand of the Rights Agent,
      reimbursement for its reasonable expenses and counsel fees and disbursements
      and
      other disbursements incurred in the preparation, negotiation, delivery,
      amendment, administration and execution of this Agreement and the exercise
      and
      performance of its duties hereunder.  The Company shall also indemnify
      the Rights Agent for, and hold it harmless against, any loss, liability, damage,
      judgment, fine, penalty, claim, demand, settlement, cost or expense (including
      without limitation, the reasonable fees and expenses of legal counsel), incurred
      without gross negligence, bad faith or willful misconduct on the part of the
      Rights Agent (which gross negligence, bad faith or willful misconduct must
      be
      determined by a final, non-appealable order, judgment, decree or ruling of
      a
      court of competent jurisdiction), for any action taken, suffered, or omitted
      by
      the Rights Agent in connection with the acceptance, administration, exercise
      and
      performance of its duties under this Agreement, including the costs and expenses
      of defending against any claim of liability arising therefrom. The reasonable
      costs and expenses incurred in enforcing this right of indemnification shall
      be
      paid by the Company (except upon a determination of gross negligence, bad faith
      or willful misconduct).  The provision of this Section 17 and Section
      19 below shall survive the termination of this Agreement, the exercise of or
      expiration of the Rights and the resignation, replacement or removal of the
      Rights Agent.

     

    (b)  The
      Rights Agent shall be authorized and protected and shall incur no liability
      for
      or in respect of any action taken, suffered or omitted by it in connection
      with
      its acceptance or administration of this Agreement and the exercise and
      performance of its duties hereunder, in

     

    
      reliance
        upon any Rights Certificate or certificate evidencing shares of Preferred
        Stock,
        Class A Common Stock, Class B Common Stock or other securities of the Company,
        instrument of assignment or transfer, power of attorney, endorsement, affidavit,
        letter, notice, direction, consent, certificate, statement, or other paper
        or
        document believed by it to be genuine and to be signed, executed and, where
        necessary, verified or acknowledged, by the proper Person or Persons or
        otherwise upon the advice of counsel as set forth in Section 19.  The
        Rights Agent shall not be deemed to have knowledge of any event of which
        it was
        supposed to have received notice thereof hereunder, and the Rights Agent
        shall
        be fully protected and shall incur no liability for failing to take any action
        in connection therewith unless and until it has received such notice,
provided, however, that the Rights Agent will not be entitled to
        such protection in cases of bad faith or willful misconduct.

       

      Section
        18                                Merger,
        Consolidation or Change of Name of Rights Agent

       

      (a)  Any
        Person into which the Rights Agent or any successor Rights Agent may be merged
        or with which it may be consolidated, or any Person resulting from any merger
        or
        consolidation to which the Rights Agent or any successor Rights Agent shall
        be a
        party, or any Person succeeding to the shareholder services business of the
        Rights Agent or any successor Rights Agent, shall be the successor to the
        Rights
        Agent under this Agreement without the execution or filing of any paper or
        any
        further act on the part of any of the parties hereto; provided that such
        Person
        would be eligible for appointment as a successor Rights Agent under the
        provisions of Section 20 hereof.  If at the time such successor Rights
        Agent shall succeed to the agency created by this Agreement any of the Rights
        Certificates shall have been 

    

    
      
        
          
          

        

        
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    countersigned
      but not delivered, any such successor Rights Agent may adopt the
      countersignature of a predecessor Rights Agent and deliver such Rights
      Certificates so countersigned; and if at that time any of the Rights
      Certificates shall not have been countersigned, any successor Rights Agent
      may
      countersign such Rights Certificates either in the name of the predecessor
      or in
      the name of the successor Rights Agent; and in all such cases such Rights
      Certificates shall have the full force provided in the Rights Certificates
      and
      in this Agreement.

     

    (b)  If
      at any
      time the name of the Rights Agent changes and at such time any of the Rights
      Certificates have been countersigned but not delivered, the Rights Agent may
      adopt the countersignature under its prior name and deliver Rights Certificates
      so countersigned; and if at that time any of the Rights Certificates have been
      countersigned, the Rights Agent may countersign such Rights Certificates either
      in its prior name or in its changed name; and in all such cases such Rights
      Certificates shall have the full force provided in the Rights Certificates
      and
      in this Agreement.

     

    Section
      19                                Duties
      of Rights Agent

     

    The
      Rights Agent undertakes to perform the duties and obligations expressly imposed
      by this Agreement (and no implied duties) upon the following terms and
      conditions, by all of which the Company and the holders of Rights Certificates,
      by their acceptance thereof, shall be bound:

     

    
      (a)    The
        Rights
        Agent may consult with legal counsel (who may be legal counsel for the Company),
        and the advice or opinion of such counsel shall be full and complete
        authorization and protection to the Rights Agent and the Rights Agent shall
        incur no liability for or in respect of any action taken, suffered or omitted
        by
        it in accordance with such advice or opinion.

       

      (b)  Whenever
        in the performance of its duties under this Agreement the Rights Agent shall
        deem it necessary or desirable that any fact or matter (including, without
        limitation, the identity of any Acquiring Person and the determination of
        the
        Current Per Share Market Price) be proved or established by the Company prior
        to
        taking, suffering or omitting to take any action hereunder, such fact or
        matter
        (unless other evidence in respect thereof be herein specifically prescribed)
        may
        be deemed to be conclusively proved and established by a certificate signed
        by
        the Chairman of the Board, the Chief Executive Officer, the President, any
        Vice
        President, the Treasurer, any Assistant Treasurer, the Secretary or any
        Assistant Secretary of the Company and delivered to the Rights Agent; and
        such
        certificate shall be full and complete authorization and protection to the
        Rights Agent and the Rights Agent shall incur no liability for or in respect
        of
        any action taken or suffered by it under the provisions of this Agreement
        in
        reliance upon such certificate.

       

      (c)  The
        Rights Agent shall be liable hereunder only for its own gross negligence,
        bad
        faith or willful misconduct (which gross negligence, bad faith or willful
        misconduct must be determined by a final, none-appealable order, judgment,
        decree or ruling of a court of competent jurisdiction).  Anything to
        the contrary notwithstanding, in no event shall the Rights Agent be liable
        for
        special, punitive, indirect, consequential or incidental loss or damage of
        any
        kind whatsoever (including but not limited to lost profits), even if the
        Rights
        Agent has been advised 

    

    
      
        
          
          

        

        
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    of
      the
      likelihood of such loss or damage.  Any liability of the Rights Agent
      under this Agreement will be limited to the amount of annual fees paid by the
      Company to the Rights Agent.

     

    (d)  The
      Rights Agent shall not be liable for or by reason of any of the statements
      of
      fact or recitals contained in this Agreement or in the Rights Certificates
      nor
      shall it be required to verify the same (except as to its countersignature
      on
      such Rights Certificates), but all such statements and recitals are and shall
      be
      deemed to have been made by the Company only.

     

    (e)  The
      Rights Agent shall be under no responsibility in respect of the validity of
      this
      Agreement or the execution and delivery hereof (except the due execution hereof
      by the Rights Agent) or in respect of the validity or execution of any Rights
      Certificate (except its countersignature thereof); nor shall it be responsible
      for any breach by the Company of any covenant or condition contained in this
      Agreement or in any Rights Certificate; nor shall it be responsible for any
      adjustment required under the provisions of Sections 11, 13, 23 or 24 hereof
      or
      responsible for the manner, method or amount of any such adjustment or the
      ascertaining of the existence of facts that would require any such adjustment
      (except with respect to the exercise of Rights evidenced by Rights Certificates
      after actual notice of any such adjustment); nor shall it by any act hereunder
      be deemed to make any representation or warranty as to the authorization or
      reservation of any shares of Class A Common Stock, Class B Common Stock or
      Preferred Stock to be issued pursuant to this Agreement or any Rights
      Certificate or as to whether any shares of Class A Common Stock, Class B Common
      Stock or Preferred Stock shall, when so issued, be validly authorized and
      issued, fully paid and nonassessable.

     

    
      (f)  The
        Company agrees that it shall perform, execute, acknowledge and deliver or
        cause
        to be performed, executed, acknowledged and delivered all such further and
        other
        acts, instruments and assurances as may reasonably be required by the Rights
        Agent for the carrying out or performing by the Rights Agent of the provisions
        of this Agreement.

       

      (g)  The
        Rights Agent is hereby authorized and directed to accept instructions with
        respect to the performance of its duties hereunder from the Chairman of the
        Board, the Chief Executive Officer, the President, any Vice President, the
        Secretary, any Assistant Secretary, the Treasurer or any Assistant Treasurer
        of
        the Company, and to apply to such officers for advice or instructions in
        connection with its duties, and it shall not be liable for any action taken
        or
        suffered to be taken by it in good faith in accordance with instructions
        of any
        such officer.

       

      (h)  The
        Rights Agent and any stockholder, director, officer or employee of the Rights
        Agent may buy, sell or deal in any of the Rights or other securities of the
        Company or become pecuniarily interested in any transaction in which the
        Company
        may be interested, or contract with or lend money to the Company or otherwise
        act as fully and freely as though it were not Rights Agent under this
        Agreement.  Nothing herein shall preclude the Rights Agent from acting
        in any other capacity for the Company or for any other Person.

       

      (i)  The
        Rights Agent may execute and exercise any of the rights or powers hereby
        vested
        in it or perform any duty hereunder either itself (through its directors,
        officers or employees) or by or through its attorneys or agents, and the
        Rights
        Agent shall not be answerable or accountable for any act, omission, default,
        neglect or misconduct of any such attorneys or agents or for any loss to
        the
        Company or any other Person resulting from any such act, default,

    

    
      
        
          
          

        

        
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    neglect
      or misconduct, absent gross negligence, bad faith or willful misconduct in
      the
      selection and continued employment thereof (which gross negligence, bad faith
      or
      willful misconduct must be determined by a final, non-appealable order,
      judgment, decree or ruling of a court of competent jurisdiction).

     

    (j)  No
      provision of this Agreement shall require the Rights Agent to expend or risk
      its
      own funds or otherwise incur any financial liability in the performance of
      any
      of its duties hereunder or in the exercise of its rights if there shall be
      reasonable grounds for believing that repayment of such funds or adequate
      indemnification against such risk or liability is not assured to
      it.

     

    (k)  If,
      with
      respect to any Rights Certificate surrendered to the Rights Agent for exercise,
      transfer, split up, combination or exchange, either (i) the certificate attached
      to the form of assignment or form of election to purchase, as the case may
      be,
      has either not been completed or indicates an affirmative response to clause
      1
      and/or 2 thereof, or (ii) the Rights Agent has received notice of a suspension,
      the Rights Agent shall not take any further action with respect to such
      requested exercise, transfer, split up, combination or exchange, without first
      consulting with the Company, and shall thereafter take further action with
      respect thereto only in accordance with the Company's written
      instructions.

     

    
      Section
        20      Change
        of Rights Agent

       

      The
        Rights Agent or any successor Rights Agent may resign and be discharged from
        its
        duties under this Agreement upon thirty (30) days' notice in writing mailed
        to
        the Company, and to each transfer agent of the shares of Class A Common Stock,
        Class B Common Stock and Preferred Stock known to the Rights Agent,
        respectively, by registered or certified mail, and, if such resignation occurs
        after the Distribution Date, to the registered holders of the Rights
        Certificates by first-class mail.  The Company may remove the Rights
        Agent or any successor Rights Agent upon thirty (30) days' notice in writing,
        mailed to the Rights Agent or successor Rights Agent, as the case may be,
        and to
        each transfer agent of the shares of Class A Common Stock, the Class B Common
        Stock and the Preferred Stock, by registered or certified mail, and, if such
        removal occurs after the Distribution Date, to the holders of the Rights
        Certificates by first-class mail.  If the Rights Agent shall resign or
        be removed or shall otherwise become incapable of acting, the Company shall
        appoint a successor to the Rights Agent.  If the Company shall fail to
        make such appointment within a period of thirty (30) days after giving notice
        of
        such removal or after it has been notified in writing of such resignation
        or
        incapacity by the resigning or incapacitated Rights Agent or by the holder
        of a
        Rights Certificate (who shall, with such notice, submit his Rights Certificate
        for inspection by the Company), then any registered holder of any Rights
        Certificate may apply to any court of competent jurisdiction for the appointment
        of a new Rights Agent.  Any successor Rights Agent, whether appointed
        by the Company or by such a court, shall be (a) a legal business entity
        organized and doing business under the laws of the United States or of the
        State
        of New York or of any other state of the United States, in good standing,
        which
        is authorized under such laws to exercise corporate trust, stock transfer
        or
        shareholder services powers and which has at the time of its appointment
        as
        Rights Agent a combined capital and surplus of at least $50,000,000 or (b)
        an
        affiliate of a legal business entity described in clause (a) of this
        sentence.  After appointment, the successor Rights Agent shall be
        vested with the same powers, rights, duties and responsibilities as if it
        had
        been originally named 

    

    
      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

    

    

    as
      Rights
      Agent without further act or deed; but the predecessor Rights Agent shall
      deliver and transfer to the successor Rights Agent any property at the time
      held
      by it hereunder, and execute and deliver any further assurance, conveyance,
      act
      or deed necessary for the purpose.  Not later than the effective date
      of any such appointment, the Company shall file notice thereof in writing with
      the predecessor Rights Agent and each transfer agent of the shares of Class
      A
      Common Stock, the Class B Common Stock and the Preferred Stock, and, if such
      appointment occurs after the Distribution Date, mail a notice thereof in writing
      to the registered holders of the Rights Certificates.  Failure to give
      any notice provided for in this Section 20, however, or any defect therein,
      shall not affect the legality or validity of the resignation or removal of
      the
      Rights Agent or the appointment of the successor Rights Agent, as the case
      may
      be.

     

    Section 21                                Issuance
      of New Rights Certificates

     

    Notwithstanding
      any of the provisions of this Agreement or of the Rights to the contrary, the
      Company may, at its option, issue new Rights Certificates evidencing Rights
      in
      such form as may be approved by the Board to reflect any adjustment or change
      in
      the Purchase Price and the number or kind or class of shares or other securities
      or property purchasable under the Rights Certificates made in accordance with
      the provisions of this Agreement.  In addition, in connection with the
      issuance or sale by the Company of shares of Class A Common Stock or Class
      B
      Common Stock following the Distribution Date and prior to the Expiration Date,
      the Company (a) shall, with respect to shares of Class A Common Stock or Class
      B
      Common Stock so issued or sold pursuant to the exercise, exchange or conversion
      of securities (other than Rights) issued prior to the Distribution Date which
      are exercisable or exchangeable for, or convertible into, shares of Class A
      Common Stock or Class B Common Stock and (b) may, in any other case, if deemed
      necessary or appropriate by the Board, issue Rights Certificates representing
      the appropriate number of Rights as would have been issued in respect of such
      shares of Class A Common Stock or Class B Common Stock if they had been issued
      or sold prior to the Distribution Date, as appropriately adjusted as provided
      herein as if they had been so issued or sold; provided, however,
      that (i) no such Rights Certificate shall be issued if, and to the extent that,
      in its good faith judgment the Board determines that the issuance of such Rights
      Certificate could have a material adverse tax consequence to the Company or
      to
      the Person to whom or which such Rights Certificate otherwise would be issued,
      and (ii) no such Rights Certificate shall be issued if, and to the extent that,
      appropriate adjustment shall otherwise have been made in lieu of the issuance
      thereof.
       

      Section 22                                Redemption

       

      (a)  Prior
        to
        the Expiration Date, the Board may, at its option, redeem all but not less
        than
        all of the then-outstanding Rights at the redemption price of $0.001 per
        Right,
        as such amount may be appropriately adjusted to reflect any stock split,
        stock
        dividend or similar transaction occurring after the date hereof (such redemption
        price being hereinafter referred to as the "Redemption Price") at any
        time prior to the Close of Business on the Distribution Date.  Any
        such redemption shall be effective immediately upon the action of the Board
        ordering the same, unless such action of the Board expressly provides that
        such
        redemption shall be effective at a subsequent time or upon the occurrence
        or
        nonoccurrence of one or more specified events (in which case such redemption
        shall be effective in accordance with the provisions of such action of the
        Board).

    

    

    
      
        
          
          

        

        
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    (b)  Immediately
      upon the action of the Board ordering the redemption of the Rights, evidence
      of
      which shall have been filed with the Rights Agent and without any further action
      and without any notice, the right to exercise the Rights shall terminate and
      the
      only right thereafter of the holders of Rights shall be to receive the
      Redemption Price for each Right so held.  Promptly after the action of
      the Board ordering the redemption of the Rights, the Company shall give notice
      of such redemption to the Rights Agent and the holders of the then outstanding
      Rights by mailing such notice to all such holders at each holder's last address
      as it appears upon the registry books of the Rights Agent or, prior to the
      Distribution Date, on the registry books of the transfer agent for the shares
      of
      Class A Common Stock and Class B Common Stock.  Any notice which is
      mailed in the manner herein provided shall be deemed given, whether or not
      the
      holder receives the notice.  Each such notice of redemption shall
      state the method by which the payment of the Redemption Price shall be
      made.  The Company may, at its option, pay the Redemption Price in
      cash, shares of Class A Common Stock or Class B Common Stock as the case may
      be
      (based upon the Current Per Share Market Price of the Class A Common Stock
      or
      Class B Common Stock (determined pursuant to Section 11(d)) at the time of
      redemption), any other form of consideration deemed appropriate by the Board
      (based upon the fair market value of such other consideration, determined by
      the
      Board in good faith) or any combination thereof.

     

    
      The
        Company may, at its option, combine the payment of the Redemption Price with
        any
        other payment being made concurrently to holders of Class A Common Stock
        or
        Class B Common Stock and, to the extent that any such other payment is
        discretionary, may reduce the amount thereof on account of the concurrent
        payment of the Redemption Price.  If legal or contractual restrictions
        prevent the Company from paying the Redemption Price (in the form of
        consideration deemed appropriate by the Board) at the time of redemption,
        the
        Company shall pay the Redemption Price, without interest, promptly after
        such
        time as the Company ceases to be so prevented from paying the Redemption
        Price.

       

      Section
        23                              Exchange

       

      (a)  The
        Board
        will, except as provided in Section 23(e) hereof, after the Distribution
        Date
        and effective as of the Distribution Date, exchange all of the then-outstanding
        and exercisable Rights (which shall not include Rights that have become void
        pursuant to the provisions of Section 11(a)(ii) hereof) for Class A Common
        Stock
        or Class B Common Stock, as the case may be, at an exchange ratio of two
        and a
        half (2.5) shares of Class A Common Stock or two and a half (2.5) shares
        of
        Class B Common Stock per Right, appropriately adjusted to reflect any stock
        split, stock dividend or similar transaction occurring after the date hereof
        (such exchange ratio being hereinafter referred to as the "Exchange
        Ratio").  If pursuant to an exchange in accordance with the terms
        of this Section 23(a), a registered holder of any Rights Certificate is entitled
        to receive shares of Class A Common Stock or Class B Common Stock in a principal
        amount that is not a whole number, the Company will round downward the amount
        of
        shares of Class A Common Stock or Class B Common Stock, as the case may be,
        so
        issued to the nearest whole number.   No Right may be transferred
        other than in connection with the transfer of the underlying shares of Class
        A
        Common Stock and/or Class B Common Stock or
        exercised pursuant to Section 7 or Section 11(a)(ii) hereof unless and until
        the
        Board shall have determined, with the consent of the holders of the majority
        of
        the Class B Common Stock pursuant to Section 23(e) hereof, not to effect
        the
        exchange contemplated in this Section 23.

    
      
        
          
          

        

        
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    (b)  Immediately
      upon the action of the Board ordering the exchange of Rights pursuant to
      subsection (a) of this Section 23 and without any further action and without
      any
      notice, the right to exercise such Rights shall terminate and the only right
      thereafter of a holder of such Rights shall be to receive that number of shares
      of Class A Common Stock or Class B Common Stock as the case may be equal to
      the
      number of such Rights held by such holder multiplied by the Exchange
      Ratio.  Promptly after the effectiveness of the exchange of Rights as
      provided in subsection (a) of this Section 23, the Company shall publicly
      announce such exchange (with prompt written notice thereof to the Rights Agent)
      and within 10 calendar days thereafter, shall give notice of such exchange
      to
      all of the holders of such Rights at their last addresses as they appear upon
      the registry books of the Rights Agent; provided, however, that
      the failure to give, or any defect in, such notice shall not affect the validity
      of such exchange.  Any notice which is mailed in the manner herein
      provided shall be deemed given, whether or not the holder receives the
      notice.  Each such notice of exchange shall state the method by which
      the exchange of shares of Class A Common Stock or Class B Common Stock for
      Rights shall be effected.

     

    
      (c)  In
        any
        exchange pursuant to this Section 23, the Company may substitute for any
        shares
        of Class A Common Stock or Class B Common Stock exchangeable for a Right
        (i)
        shares of Equivalent Common Stock as such term is used in Section 11(a)(iii),
        (ii) cash, (iii) debt securities of the Company, (iv) other assets or (v)
        any
        combination of the foregoing, in any event having an aggregate value, as
        determined in good faith by the Board (whose determination shall be described
        in
        a statement filed with the Rights Agent), equal to the current market value
        of
        one share of Class A Common Stock or Class B Common Stock as the case may
        be
        (determined pursuant to Section 11(d)) on the Trading Day immediately preceding
        the date of the effectiveness of the exchange pursuant to this Section
        23.

       

      (d)  Notwithstanding
        any other provision of this Agreement, the Company shall not issue or exchange
        Equivalent Common Stock, Equivalent Preferred Stock, cash  or other
        debt or equity securities of the Company, or make any pro rata issuance or
        exchange, pursuant to this Agreement without the prior written consent of
        the
        holders of a majority of the Class B Common Stock.

       

      (e)  Notwithstanding
        any other provision of this Agreement, the Company will not in any way amend
        or
        supplement this Section 23 without the prior written consent of the holders
        of a
        majority of the Class B Common Stock.

       

      Section
        24                                Notice
        of Certain Events

       

      (a)  If
        the
        Company proposes (i) to pay any dividend payable in stock of any class to
        the
        holders of shares of Preferred Stock or to make any other distribution to
        the
        holders of shares of Preferred Stock (other than a regular periodic cash
        dividend), (ii) to offer to the holders of shares of Preferred Stock rights,
        options, or warrants to subscribe for or to purchase any additional shares
        of
        Preferred Stock or shares of stock of any class or any other securities,
        rights
        or options, (iii) to effect any reclassification of its Preferred Stock (other
        than a reclassification involving only the subdivision of outstanding shares
        of
        Preferred Stock), (iv) to effect any consolidation or merger into or with
        any
        other Person, (v) to effect the liquidation, dissolution or winding up of
        the
        Company, or (vi) to declare or pay any dividend on the shares of Class A
        

    

    
      
        
          
          

        

        
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    Common
      Stock or Class B Common Stock payable in shares of Class A Common Stock or
      Class
      B Common Stock, respectively, or to effect a subdivision, combination or
      reclassification of the Class A Common Stock or Class B Common Stock as the
      case
      may be, then, in each such case, the Company shall give to the Rights Agent
      and,
      to the extent possible, to each holder of a Rights Certificate, in accordance
      with Section 25 hereof, a notice of such proposed action, which shall specify
      the record date for the purposes of such stock dividend, distribution or
      offering of rights, warrants, or the date on which such reclassification,
      consolidation, merger, sale, transfer, liquidation, dissolution, or winding
      up
      is to take place and the date of participation therein by the holders of the
      shares of Preferred Stock, if any such date is to be fixed, and such notice
      shall be so given in the case of any action covered by clause (i) or (ii) above
      at least ten (10) days prior to the record date for determining holders of
      the
      shares of Class A Common Stock, Class B Common Stock, and/or Preferred Stock
      for
      purposes of such action, and in the case of any such other action covered by
      clause (1) or (ii) above at least ten (10) days prior to the date of such
      proposed action or the date of participation therein by the holders of the
      shares of Preferred Stock, whichever is the earlier.

     

    
      (b)  In
        case a
        Stock Acquisition Date occurs, then, in any such case, the Company shall
        as soon
        as practicable thereafter give to the Rights Agent and each holder of a Rights
        Certificate, to the extent feasible and in accordance with Section 25 hereof,
        a
        notice of the occurrence of such event, which shall specify the event and
        the
        consequences of the event to holders of Rights.

       

      Section
        25                               Notices

       

      (a)  Notices
        or demands authorized by this Agreement to be given or made by the Rights
        Agent
        or by the holder of any Rights Certificate to or on the Company shall be
        sufficiently given or made (a) immediately, if made by personal delivery
        to the
        party to be notified, (b) on the fifth (5th) day
        if sent by
        first-class mail, postage prepaid, (c) the next Business Day if by nationally
        recognized overnight courier or (d) upon confirmation, if transmission by
        facsimile combined with a phone call to the Company notifying it of such
        transmission, all addressed (until another address is filed in writing by
        the
        Company with the Rights) as follows:

                

                  Charter
        Communications, Inc.

                  12405
        Powerscourt
        Drive

                  St.
        Louis,
        Missouri  63131

       

             
        Attention: Grier C. Raclin

                  Facsimile:
        (314)
        965-8793

                  Phone:                            (314)
        543-2306

       

      (b)  Subject
        to the provisions of Section 20, any notice or demand authorized by this
        Agreement to be given or made by the Company or by the holder of any Rights
        Certificate to or on the Rights Agent shall be sufficiently given or made
        (a)
        immediately, if made by personal delivery to the party to be notified, (b)
        on
        the fifth (5th)
        day if sent by first-class mail, postage prepaid, (c) the next Business Day
        if
        by nationally recognized overnight courier or (d) upon confirmation, if
        transmission by facsimile combined with a phone call to the Rights Agent
        

    

    
      
        
          
          

        

        
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    notifying
      it of such transmission, all addressed (until another address is filed in
      writing by the Rights Agent with the Company) as follows:

     

    One
      Memorial Drive, Suite 900

    St.
      Louis, Missouri  63102

     

    Attention:
      Relationship Manager

    Facsimile:
      (314) 588-0665

    Phone:      (314)
      342-8211

     

    with
      a
      copy to:

     

    Mellon
      Investor Services LLC

    480
      Washington Boulevard

    Jersey
      City, NJ 07310

    Attention:  General
      Counsel

     

    Facsimile:
      (201) 680-4637

    Phone:      (201)
      680-4000

    
       

      (c)  Notices
        or demands authorized by this Agreement to be given or made by the Company
        or
        the Rights Agent to the holder of any Rights Certificate (or, if prior to
        the
        Distribution Date, to the holder of certificates representing shares of Class
        A
        Common Stock or Class B Common Stock) shall be sufficiently given or made
        if
        sent by first-class mail, postage prepaid, addressed to such holder at the
        address of such holder as shown on the registry books of the
        Company.

       

      Section
        26                                Supplements
        and Amendments

       

      Prior
        to
        the Distribution Date, the Company and the Rights Agent shall, subject to
        the
        other terms and conditions of this Agreement, if the Company so directs,
        supplement or amend any provision of this Agreement without the approval
        of any
        holders of certificates representing shares of Class A Common Stock, any
        such
        supplement or amendment to be evidenced by writing signed by the Company
        and the
        Rights Agent, provided, however, that the Company and the Rights
        Agent shall not supplement or amend this Agreement without the prior approval
        of
        the holders of a majority of the Class B Common Stock.  From and after
        the Distribution Date, the Company may and the Rights Agent shall, if the
        Company so directs, supplement or amend this Agreement without the approval
        of
        any holders of Rights Certificates in order (i) to cure any ambiguity, (ii)
        to
        correct or supplement any provision contained herein which may be defective
        or
        inconsistent with any other provisions herein, (iii) to shorten or lengthen
        any
        time period hereunder or (iv) to amend or supplement the provisions hereunder
        in
        any manner which the Company may deem necessary or desirable; provided,
however, that no such supplement or amendment shall adversely affect
        the
        interests of the holders of Rights Certificates (other than an Acquiring
        Person
        or any Affiliate or Associate of an Acquiring Person); and provided,
further, however, that the Company and the Rights Agent shall not
        supplement or amend this Agreement without the prior approval of the holders
        of
        a majority of the Class B Common Stock.  Upon the delivery of a
        certificate from an appropriate officer of the Company which states that
        the

    

    
      
        
          
          

        

        
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    proposed
      supplement or amendment is in compliance with the terms of this Section 26,
      the
      Rights Agent shall execute such supplement or
      amendment.  Notwithstanding anything herein to the contrary, the
      Rights Agent shall not be obligated to enter into any supplement or amendment
      that affects the Rights Agent’s own right, duties, obligations or immunities
      under this Agreement, and the Rights Agent shall not be bound by supplements
      or
      amendments not executed by it.  Notwithstanding anything herein to the
      contrary, this Agreement may not be amended (other than pursuant to clauses
      (i)
      or (ii) of the preceding sentence) at a time when the Rights are not
      redeemable.

     

    Section
      27                               Successors

     

    All
      the
      covenants and provisions of this Agreement by or for the benefit of the Company
      or the Rights Agent shall bind and inure to the benefit of their respective
      successors and assigns hereunder.

     

    
      Section
        28        Determinations
        and
        Actions by the Board

       

      (a)  For
        all
        purposes of this Agreement, any calculation of the number of shares of Class
        A
        Common Stock or Class B Common Stock or any other class of capital stock
        outstanding at any particular time, including for purposes of determining
        the
        particular percentage of such outstanding shares of Class A Common Stock
        or
        Class B Common Stock of which any Person is the Beneficial Owner, shall be
        made
        in accordance with the last sentence of Rule 13d-3(d)(1)(i) of the General
        Rules
        and Regulations under the Exchange Act.

       

      (b)  Notwithstanding
        anything to the contrary set forth in this Agreement and other than as set
        forth
        in Section 1(w)(i), Section 23 or in Section 26, the Board shall have the
        exclusive power and authority to administer this Agreement and to exercise
        all
        rights and powers specifically granted to the Board or to the Company, or
        as may
        be necessary or advisable in the administration of this Agreement, including,
        without limitation, the right and power to (i) interpret the provisions of
        this
        Agreement, and (ii) make all determinations and calculations deemed necessary
        or
        advisable for the administration of this Agreement (including a determination
        to
        redeem or not redeem the Rights or amend this Agreement).

       

      (c)   All
        such actions, calculations, interpretations and determinations (including,
        for
        purposes of clause (y) below, all omissions with respect to the foregoing)
        which
        are done or made by the Board in good faith, shall (x) be final, conclusive
        and
        binding on the Company, the Rights Agent, the holders of the Rights and all
        other parties, and (y) not subject the Board, or any of the directors on
        the
        Board to any liability to any person, including without limitation the Rights
        Agent and the holders of the Rights.  Unless otherwise notified, the
        Rights Agent shall always be entitled to assume that the Board acted in good
        faith and the Rights Agent shall be fully protected and shall incur no liability
        in reliance thereon.

       

      Section
        29                                Benefits
        of this Agreement

       

      Nothing
        in this Agreement shall be construed to give to any Person other than the
        Company, the Rights Agent and the registered holders of the Rights Certificates
        (and, prior to the Distribution Date, registered holders of shares of Class
        A
        Common Stock or Class B Common Stock) any legal or equitable right, remedy
        or
        claim under this Agreement; but this Agreement 

    

    
      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

    

    

    shall
      be
      for the sole and exclusive benefit of the Company, the Rights Agent and the
      registered holders of the Rights Certificates (and, prior to the Distribution
      Date, registered holders of shares of Class A Common Stock or Class B Common
      Stock).

     

    Section 30                               Severability

     

    If
      any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction or other authority to be invalid, void or unenforceable,
      the remainder of the terms, provisions, covenants and restrictions of this
      Agreement shall remain in full force and effect and shall in no way be affected,
      impaired or invalidated; provided, however, that notwithstanding
      anything in this Agreement to the contrary, if any such term, provision,
      covenant or restriction is held by such court or authority to be invalid, void
      or unenforceable and the Board determines in its good faith judgment that
      severing the invalid language from this Agreement would adversely affect the
      purpose or effect of this Agreement, the right of redemption
      set forth in Section 22 hereof shall be reinstated and shall not expire until
      the Close of Business on the tenth Business Day following the date of such
      determination by the Board.  Without limiting the foregoing, if any
      provision requiring a specific group of directors to act is held to by any
      court
      of competent jurisdiction or other authority to be invalid, void or
      unenforceable, such determination shall then be made by the Board in accordance
      with applicable law and the Company's Certificate of Incorporation and
      bylaws.
       

      Section 31                                Governing
        Law

       

      This
        Agreement, each Right and each Rights Certificate issued hereunder shall
        be
        deemed to be a contract made under the laws of the State of Delaware and
        for all
        purposes shall be governed by and construed in accordance with the laws of
        such
        State applicable to contracts made and to be performed entirely within such
        State; except that all provisions regarding the rights, duties and obligations
        of the Rights Agent shall be governed by and construed in accordance with
        the
        law of the State of New York applicable to contracts made and to be performed
        entirely within such State.

       

      Section 32                                Counterparts

       

      This
        Agreement may be executed in any number of counterparts and each of such
        counterparts shall for all purposes be deemed to be an original, and all
        such
        counterparts shall together constitute but one and the same
        instrument.

       

      Section 33                                Descriptive
        Headings; Interpretation

       

      Descriptive
        headings of the several sections of this Agreement are inserted for convenience
        only and shall not control or affect the meaning or construction of any of
        the
        provisions hereof.  For the avoidance of doubt and for clarification
        purposes only, if under any circumstance contemplated herein Rights become
        exercisable for the purchase of shares of Class A Common Stock or Class B
        Common
        Stock, such Rights may only be exercised as follows:  (A) Rights
        issued in respect of Class A Common Stock will be exercisable only for

    

    

    
      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

    

    

    the
      purchase of shares of Class A Common Stock (or any Equivalent Common Stock
      issued in respect thereof) and (B) Rights issued in respect of Class B Common
      Stock will be exercisable only for the purchase of shares of Class B Common
      Stock (or any Equivalent Common Stock issued in respect thereof).

     

    Section
      34                                Termination

     

    Except
      as explicitly set forth herein,
      this Agreement and the Rights shall terminate as of the Expiration
      Date.  As soon as an Expiration Date has been determined pursuant to
      Section 1(w)(i), (ii), (iv) or (v), the Company shall as promptly as practicable
      notify the Rights Agent of the Expiration Date.

     

    

      [Remainder
        Of Page Left Intentionally Blank]

    

    

    
      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

      

    

     

    

    

     

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

     

    

    CHARTER
      COMMUNICATIONS, INC.

     

    

     

    

     

    

    /s/
      Jeffrey T. Fisher

    Name:
      Jeffrey T. Fisher

    Title:   Executive
      Vice President and Chief

    Financial
      Officer

     

    

     

    

     

    

    MELLON
      INVESTOR SERVICES LLC

     

    

     

                                   /s/
      Jane A.
      Marten 

                                                  Name:
      Jane A. Marten 

                                                 
Title:
      Client
      Relationship Executive

     

     

     

    

     

    

    

    
      
        
                

             

                    Signature
              page to Rights
              Agreement      
    

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    Exhibit
      A

     

    CERTIFICATE
      OF DESIGNATION

    OF

    SERIES
      B
      JUNIOR PREFERRED STOCK

    OF

    CHARTER
      COMMUNICATIONS, INC .

     

    (Pursuant
      to Section 151 of the General Corporation Law of the State of
      Delaware)

     

    Charter
      Communications, Inc. (hereinafter called the "Company"), a
      corporation organized and existing under and by virtue of the General
      Corporation Law of the State of Delaware (the "DGCL"), does
      hereby certify:

     

    1.
      The
      name of the Company is Charter Communications, Inc.

     

    2.
      The
      restated certificate of incorporation, as amended (the "Certificate of
      Incorporation") of the Company authorizes the
      issuance of 250,000,000 shares of Preferred Stock, $0.001 par value (the
      "Preferred Stock"), and expressly vests in the Board of
      Directors of the Company (the "Board") the authority provided
      therein to provide for the issuance of said shares in series and by filing
      a
      certificate pursuant to the applicable law of the State of Delaware, to
      establish from time to time the number of shares to be included in each such
      series, and to fix the designation, powers, preferences and rights of the shares
      of each such series and the qualifications, limitations, or restrictions
      thereof.

     

    3.
      The
      Board, pursuant to the authority expressly vested in it as aforesaid, has
      adopted the following resolutions creating a "Series B Junior" series of
      Preferred Stock:

     

    RESOLVED,
      that a series of the class of authorized Preferred Stock of the Company be
      and
      hereby is created, and that the designation and amount thereof and the voting
      powers, preferences and relative participating, optional and other special
      rights of the shares of such series, and the qualifications, limitations or
      restrictions thereof are as follows:

     

    SERIES
      B JUNIOR PREFERRED STOCK

     

    Section
      35.   Designation
      and Amount.  The shares of such series will be
      designated as Series B Junior Preferred Stock (the "Series B
      Preferred") and the number of shares constituting the Series B
      Preferred is 1,000,000.  Such number of shares may be increased or
      decreased by resolution of the Board; provided, however, that no decrease will
      reduce the number of shares of Series B Preferred to a number less than the
      number of shares then outstanding plus the number of shares reserved for
      issuance upon the exercise of outstanding options, rights or warrants or upon
      the conversion of any outstanding securities issued by the Company and
      convertible into Series B Preferred.  The Series B Preferred is to be
      reserved solely for issuance pursuant to the Rights Agreement by and between
      the
      Company and Mellon Investor Services LLC, as rights agent, dated
August 14,
      2007.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

     

    Section
      36.   Dividends
      and Distributions.

     

    (a)           Subject
      to the rights of the holders of any shares of any series of Preferred Stock
      ranking prior to the Series B Preferred with respect to dividends, the holders
      of shares of Series B Preferred, in preference to the holders of Class A Common
      Stock, par value $0.001 per share and Class B Common Stock, par value $0.001
      (collectively, the "Common Stock"), of the Company, and of any
      other junior stock, will be entitled to receive, when, as and if declared by
      the
      Board out of funds legally available for the purpose, dividends payable in
      cash
      (except as otherwise provided below) on such dates as are from time to time
      established for the payment of dividends on the Common Stock (each such date
      being referred to herein as a "Dividend Payment Date"),
      commencing on the first Dividend Payment Date after the first issuance of a
      share or fraction of a share of Series B Preferred (the "First Dividend
      Payment Date"), in an amount per share (rounded to the nearest cent)
      equal to, subject to the provision for adjustment hereinafter set forth, one
      thousand (1000) times the aggregate per share amount of all cash dividends,
      and
      one thousand (1000) times the aggregate per share amount (payable in kind)
      of
      all non-cash dividends, other than a dividend payable in shares of Common Stock
      or a subdivision of the outstanding shares of Common Stock (by reclassification
      or otherwise), declared on the Common Stock since the immediately preceding
      Dividend Payment Date or, with respect to the First Dividend Payment Date,
      since
      the first issuance of any share or fraction of a share of Series B
      Preferred.  In the event that the Company at any time (i) declares a
      dividend on the outstanding shares of Common Stock payable in shares of Common
      Stock, (ii) subdivides the outstanding shares of Common Stock, (iii) combines
      the outstanding shares of Common Stock into a smaller number of shares or (iv)
      issues any shares of its capital stock in a reclassification of the outstanding
      shares of Common Stock (including any such reclassification in connection with
      a
      consolidation or merger in which the Company is the continuing or surviving
      corporation), then, in each such case and regardless of whether any shares
      of
      Series B Preferred are then issued or outstanding, the amount to which holders
      of shares of Series B Preferred would otherwise be entitled immediately prior
      to
      such event will be correspondingly adjusted.

     

    (b)           The
      Company will declare a dividend on the Series B Preferred as provided in
      paragraph (a) of this Section 2 immediately after it declares a dividend on
      the
      Common Stock (other than a dividend payable in shares of Common
      Stock).  Each such dividend on the Series B Preferred will be payable
      immediately prior to the time at which the related dividend on the Common Stock
      is payable.

     

    (c)           Dividends
      will accrue on outstanding shares of Series B Preferred from the Dividend
      Payment Date next preceding the date of issue of such shares, unless (i) the
      date of issue of such shares is prior to the record date for the First Dividend
      Payment Date, in which case dividends on such shares will accrue from the date
      of the first issuance of a share of Series B Preferred or (ii) the date of
      issue
      is a Dividend Payment Date or is a date after the record date for the
      determination of holders of shares of Series B Preferred entitled to receive
      a
      dividend and before such Dividend Payment Date, in either of which events such
      dividends will accrue from such Dividend Payment Date.  Accrued but
      unpaid dividends will cumulate from the applicable Dividend Payment Date but
      will not bear interest.  Dividends paid on the shares of Series B
      Preferred in an amount less than the total amount of such dividends at the
      time
      accrued and 

    

    
      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

    

    

    payable
      on such shares will be allocated pro rata on a share-by-share basis among all
      such shares at the time outstanding.  The Board may fix a record date
      for the determination of holders of shares of Series B Preferred entitled to
      receive payment of a dividend or distribution declared thereon, which record
      date will be not more than 60 calendar days prior to the date fixed for the
      payment thereof.

     

    Section
      37.   Voting
      Rights.  The holders of shares of Series B Preferred
      will have the following voting rights:

     

    (a)           Except
      as specifically set forth in the DGCL or provided in the balance of this Section
      3, the holders of shares of the Series B Preferred shall not be entitled to
      any
      voting rights with respect to any matters voted upon by
      stockholders.

     

    (b)           So
      long as any shares of the Series B Preferred are outstanding, the Company shall
      not amend its Certificate of Incorporation or Bylaws, without the written
      consent or the affirmative vote at a meeting called for that purpose of the
      holders of a majority of the votes of the shares of Series B Preferred then
      outstanding, voting separately as a class, which majority shall include the
      affirmative vote of such shares of Series B Preferred held by the holder of
      the
      Company's Class B Common Stock, par value$ 0.001, so as to (i) amend, alter
      or
      repeal any of the provisions of any resolution or resolutions establishing
      the
      Series B Preferred so as to affect adversely the powers, preferences or special
      rights of such Series B Preferred or (ii) authorize the issuance of, or
      authorize any obligation or security convertible into or evidencing the right
      to
      purchase shares of, any additional class or series of Preferred Stock that
      is
      senior to the Series B Preferred. Without limiting any of the foregoing, the
      Company shall have the right to issue any additional class or series of Junior
      Stock (as defined below) or Parity Stock (as defined below) without any approval
      of the shares of Series B Preferred then outstanding.

     

    Section
      38.   Certain
      Restrictions.

     

    (a)           Whenever
      dividends or other dividends or distributions payable on the Series B Preferred
      are in arrears, thereafter and until all accrued and unpaid dividends and
      distributions, whether or not declared, on shares of Series B Preferred
      outstanding have been paid in full, the Company will not:

     

    (i)  Declare
      or pay dividends, or make any other distributions, on any shares of stock
      ranking junior (either as to dividends or upon liquidation, dissolution or
      winding up) ("Junior Stock") to the shares of Series B
      Preferred;

     

    (ii)  Declare
      or pay dividends, or make any other distributions, on any shares of stock
      ranking on a parity (either as to dividends or upon liquidation, dissolution
      or
      winding up) ("Parity Stock") with the shares of Series B
      Preferred, except dividends paid ratably on the shares of Series B Preferred
      and
      all such Parity Stock on which dividends are payable or in arrears in proportion
      to the total amounts to which the holders of all such shares are then
      entitled;

     

              (iii)  Redeem,
      purchase or otherwise acquire for consideration shares of any Junior Stock;
      provided, however, that the Company may at any time redeem, purchase

    
      
        
          
          

        

        
          39

          
            

          

        

        
          
          

        

      

    

    

    or
      otherwise acquire shares of any such Junior Stock in exchange for shares of
      any
      other Junior Stock of the Company; or

     

    (iv)  Redeem,
      purchase or otherwise acquire for consideration any shares of Series B
      Preferred, or any shares of Parity Stock, except in accordance with a purchase
      offer made in writing or by publication (as determined by the Board) to all
      holders of such shares upon such terms as the Board, after consideration of
      the
      respective annual dividend rates and other relative rights and preferences
      of
      the respective series and classes, may determine in good faith will result
      in
      fair and equitable treatment among the respective series or
      classes.

     

    (b)  The
      Company will not permit any majority-owned subsidiary of the Company to purchase
      or otherwise acquire for consideration any shares of stock of the Company unless
      the Company could, under paragraph (a) of this Section 4, purchase or otherwise
      acquire such shares at such time and in such manner.

     

    Section
      39.   Reacquired
      Shares.  Any shares of Series B Preferred purchased or
      otherwise acquired by the Company in any manner whatsoever will be retired
      and
      canceled promptly after the acquisition thereof.  All such shares will
      upon their cancellation become authorized but unissued shares of Preferred
      Stock
      and may be reissued as part of a new series of Preferred Stock subject to the
      conditions and restrictions on issuance set forth herein, in the Certificate
      of
      Incorporation of the Company, or in any other Certificate of Designations
      creating a series of Preferred Stock or any similar stock or as otherwise
      required by law.

     

    Section
      40.   Liquidation,
      Dissolution or Winding Up.  Upon any liquidation,
      dissolution or winding up of the Company, no distribution will be made (a)
      to
      the holders of shares of Junior Stock unless, prior thereto, the holders of
      shares of Series B Preferred have received $10 per share, plus an amount equal
      to accrued and unpaid dividends and distributions thereon, whether or not
      declared, to the date of such payment; provided, however, that the holders
      of
      shares of Series B Preferred will be entitled to receive an aggregate amount
      per
      share, subject to the provision for adjustment hereinafter set forth, equal
      to
      one thousand (1000) times the aggregate amount to be distributed per share
      to
      holders of shares of Common Stock or (b) to the holders of shares of Parity
      Stock, except distributions made ratably on the shares of Series B Preferred
      and
      all such Parity Stock in proportion to the total amounts to which the holders
      of
      all such shares are entitled upon such liquidation, dissolution or winding
      up.  In the event the Company at any time (i) declares a dividend on
      the outstanding shares of Common Stock payable in shares of Common Stock, (ii)
      subdivides the outstanding shares of Common Stock, (iii) combines the
      outstanding shares of Common Stock into a smaller number of shares or (iv)
      issues any shares of its capital stock in a reclassification of the outstanding
      shares of Common Stock (including any such reclassification in connection with
      a
      consolidation or merger in which the Company is the continuing or surviving
      corporation), then, in each such case and regardless of whether any shares
      of
      Series B Preferred are then issued or outstanding, the aggregate amount to
      which
each
      holder of shares of Series B Preferred would otherwise be entitled immediately
      prior to such event will be correspondingly
      adjusted.

    

    
      
        
          
          

        

        
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    Section
      41.   Consolidation,
      Merger, Etc.  In the event that the Company enters into
      any consolidation, merger, combination or other transaction in which the shares
      of Common Stock are exchanged for or changed into other stock or securities,
      cash and/or any other property, then, in each such case, each share of Series
      B
      Preferred will at the same time be similarly exchanged for or changed into
      an
      amount per share, subject to the provision for adjustment hereinafter set forth,
      equal to one thousand (1000) times the aggregate amount of stock, securities,
      cash and/or any other property (payable in kind), as the case may be, into
      which
      or for which each share of Common Stock is changed or exchanged.  In
      the event the Company at any time (a) declares a dividend on the outstanding
      shares of Common Stock payable in shares of Common Stock, (b) subdivides the
      outstanding shares of Common Stock, (c) combines the outstanding shares of
      Common Stock in a smaller number of shares or (d) issues any shares of its
      capital stock in a reclassification of the outstanding shares of Common Stock
      (including any such reclassification in connection with a consolidation or
      merger in which the Company is the continuing or surviving corporation), then,
      in each such case and regardless of whether any shares of Series B Preferred
      are
      then issued or outstanding, the amount set forth in the preceding sentence
      with
      respect to the exchange or change of shares of Series B Preferred will be
      correspondingly adjusted.

     

    Section
      42.   Redemption.  The
      shares of Series B Preferred are not redeemable.

     

    Section
      43.   Rank.  The
      Series B Preferred rank, with respect to the payment of dividends and the
      distribution of assets, junior to all other series of the Company's Preferred
      Stock, unless the terms of such series shall so
      provide.

     

    Section
      44.   Amendment.   Notwithstanding
      anything contained in the Certificate of Incorporation of the Company to the
      contrary and in addition to any other vote required by applicable law, the
      Certificate of Incorporation of the Company may not be amended in any manner
      that would materially alter or change the powers, preferences or special rights
      of the Series B Preferred so as to affect them adversely without the affirmative
      vote of the holders of at least 51% of the outstanding shares of Series B
      Preferred, voting together as a single series.

     

    FURTHER
      RESOLVED, that the statements contained in the foregoing resolutions creating
      and designating the said Series B Junior Preferred Stock and fixing the number,
      powers, preferences and relative, optional, participating, and other special
      rights and the qualifications, limitations, restrictions, and other
      distinguishing characteristics thereof shall, upon the effective date of said
      series, be deemed to be included in and be a part of the Certificate of
      Incorporation of the Company pursuant to the provisions of Sections 104 and
      151
      of the DGCL.

     

    

     

    [Remainder
      Of Page Left Intentionally Blank]

    

    
      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

    

    

    

     

    IN
      WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the
      Company by the undersigned on August 14, 2007.

     

    CHARTER
      COMMUNICATIONS, INC.

     

    By: /s/
      Jeffrey T.
      Fisher                                                                   

                                    Name:  Jeffrey
      T. Fisher

                                    Title:   Executive
      Vice President and ChiefFinancial Officer

     

    

     

    

    

    
      
        
          
          

        

        
          42

          
            

          

        

        
          
          

        

      

    

    

    

     

    Exhibit
      B

     

    FORM
      OF RIGHTS CERTIFICATE

     

    Certificate
      No.
      R-___________         ___________Rights
      in respect of Class __ Common Stock

     

    NOT
      EXERCISABLE AFTER DECEMBER 31, 2008 OR EARLIER IF REDEEMED, EXCHANGED OR
      AMENDED.  THE RIGHTS ARE SUBJECT TO REDEMPTION, EXCHANGE AND AMENDMENT
      AT THE OPTION OF THE COMPANY, ON THE TERMS SET FORTH IN THE RIGHTS
      AGREEMENT.  UNDER CERTAIN CIRCUMSTANCES SPECIFIED IN THE RIGHTS
      AGREEMENT, RIGHTS THAT ARE OR WERE BENEFICIALLY OWNED BY AN ACQUIRING PERSON
      OR
      AN AFFILIATE OR AN ASSOCIATE OF AN ACQUIRING PERSON (AS SUCH TERMS ARE DEFINED
      IN THE RIGHTS AGREEMENT) OR A TRANSFEREE THEREOF MAY BECOME NULL AND
      VOID.

     

    RIGHTS
      CERTIFICATE

     

    Charter
      Communications, Inc.

     

    This
      certifies that _________________, or registered assigns, is the registered
      owner
      of the number of Rights set forth above, each of which entitles the owner
      thereof, subject to the terms, provisions, and conditions of the Rights
      Agreement (including without limitation Section 11(a)(ii)), (the
“Rights Agreement”), by and between Charter
      Communications, Inc., a Delaware corporation (the
“Company”), and Mellon Investor Services LLC, a New
      Jersey limited liability company (the “Rights Agent”),
      dated as of August 14, 2007, to purchase from the Company at any time after
      the
      Distribution Date (as such term is defined in the Rights Agreement) and prior to
      5:00 p.m. (New York time) on the Expiration Date (as such term is defined in
      the
      Rights Agreement) at the office or offices of the Rights Agent designated for
      such purpose, one one-thousandth of a fully paid nonassessable share of Series
      B
      Junior Preferred Stock, par value $0.001 per share (the “Preferred
      Shares”), of the Company, at a purchase price of $25.00 per one
      one-thousandth of a Preferred Share (the “Purchase
      Price”), upon presentation and surrender of this Rights
      Certificate with the Form of Election to Purchase and related Certificate duly
      executed.  If this Rights Certificate is exercised in part, the holder
      will be entitled to receive upon surrender hereof another Rights Certificate
      or
      Rights Certificates for the number of whole Rights not exercised.  The
      number of Rights evidenced by this Rights Certificate (and the number of one
      one-thousandths of a Preferred Share which may be purchased upon exercise
      thereof) set forth above, and the Purchase Price set forth above, are the number
      and Purchase Price as of the date of the Rights Agreement, based on the
      Preferred Shares as constituted at such date.  Terms used herein with
      initial capital letters and not defined herein are used herein with the meanings
      ascribed thereto in the Rights Agreement.

     

    As
      provided in the Rights Agreement, the Purchase Price and/or the number and/or
      kind of shares of Preferred Stock (or other securities, as the case may be)
      which may be purchased upon
      the
      exercise of the Rights evidenced by this Rights Certificate are subject to
      adjustment upon the occurrence of certain events.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

     

    This
      Rights Certificate is subject to all of the terms, provisions and conditions
      of
      the Rights Agreement, which terms, provisions and conditions are hereby
      incorporated herein by reference and made a part hereof and to which Rights
      Agreement reference is hereby made for a full description of the rights,
      limitations of rights, obligations, duties and immunities of the Rights Agent,
      the Company and the holders of the Rights Certificates, which limitations of
      rights include the temporary suspension of the exercisability of the Rights
      under the circumstances specified in the Rights Agreement.  Copies of
      the Rights Agreement are on file at the principal executive offices of the
      Company and can be obtained from the Company without charge upon written request
      therefor.

     

    Pursuant
      to the Rights Agreement, from and after the occurrence of a Flip-in Event,
      any
      Rights that are Beneficially Owned by (i) any Acquiring Person (or any Affiliate
      or Associate of any Acquiring Person), (ii) a transferee of any Acquiring Person
      (or any such Affiliate or Associate) who becomes a transferee after the
      occurrence of a Flip-in Event or (iii) a transferee of any Acquiring Person
      (or
      any such Affiliate or Associate) who became a transferee prior to or
      concurrently with the Flip-in Event pursuant to either (a) a transfer from
      an
      Acquiring Person to holders of its equity securities or to any Person with
      whom
      it has any continuing agreement, arrangement or understanding regarding the
      transferred Rights or (b) a transfer which the Board of Directors of the Company
      has determined is part of a plan, arrangement or understanding which has the
      purpose or effect of avoiding certain provisions of the Rights Agreement, and
      subsequent transferees of any of such Persons, will be void without any further
      action and any holder of such Rights will thereafter have no rights whatsoever
      with respect to such Rights under any provision of the Rights
      Agreement.  From and after the occurrence of a Flip-in Event, no
      Rights Certificate will be issued that represents Rights that are or have become
      void pursuant to the provisions of the Rights Agreement, and any Rights
      Certificate delivered to the Rights Agent that represents Rights that are or
      have become void pursuant to the provisions of the Rights Agreement will be
      canceled.

     

    This
      Rights Certificate, with or without other Rights Certificates, may be
      transferred, split up, combined or exchanged for another Rights Certificate
      or
      Rights Certificates entitling the holder to purchase a like number of one
      one-thousandths of a Preferred Share (or other securities, as the case may
      be)
      as the Rights Certificate or Rights Certificates surrendered entitled such
      holder (or former holder in the case of a transfer) to purchase, upon
      presentation and surrender hereof at the office or offices of the Rights Agent
      designated for such purpose, with the Form of Assignment (if appropriate) and
      the related Certificate duly executed.

     

    Subject
      to the provisions of the Rights Agreement, the Rights evidenced by this
      Certificate may be redeemed by the Company at its option at a redemption price
      of $0.001 per Right or may be exchanged in whole or in part.  The
      Rights Agreement may be supplemented and amended by the Company, as provided
      therein.

     

    The
      Company is not required to issue fractions of Preferred Shares (other than
      fractions which are integral multiples of one one-thousandth of a Preferred
      Share, which may, at the

    

    
      
        
          
          

        

        
          44

          
            

          

        

        
          
          

        

      

    

    

     

    option
      of
      the Company, be evidenced by depositary receipts) or other securities issuable,
      as the case may be, upon the exercise of any Right or Rights evidenced
      hereby.  If pursuant to an exchange in accordance with the terms of
      the Rights Agreement, a registered holder of any Rights Certificate is entitled
      to receive shares of Class A Common Stock or Class B common stock in a principal
      amount that is not a whole number, the Company will round downward the amount
      of
      shares of Class A common stock or Class B common stock, as the case may be,
      so
      issued to the nearest whole number.

     

    No
      holder
      of this Rights Certificate, as such, will be entitled to vote or receive
      dividends or be deemed for any purpose the holder of the Preferred Shares or
      of
      any other securities of the Company which may at any time be issuable upon
      the
      exercise of the Right or Rights represented hereby, nor will anything contained
      herein or in the Rights Agreement be construed to confer  upon the
      holder hereof, as such, any of the rights of a stockholder of the Company or
      any
      right to vote for the election of directors or upon any matter submitted to
      stockholders at any meeting thereof, or to give or withhold consent to any
      corporate action, or to receive notice of meetings or other actions affecting
      stockholders (except as provided in the Rights Agreement), or to receive
      dividends or subscription rights, or otherwise, until the Right or Rights
      evidenced by this Rights Certificate have been exercised in accordance with
      the
      provisions of the Rights Agreement.

     

    This
      Rights Certificate will not be valid or obligatory for any purpose until it
      has
      been countersigned by the Rights Agent.

     

    

     

    [Remainder
      Of Page Left Intentionally Blank]

    

    
      
        
          
          

        

        
          45

          
            

          

        

        
          
          

        

      

    

    

    

     

    WITNESS
      the facsimile signature of the proper officers of the Company and its corporate
      seal.  Dated as of ___________, ______________.

     

    

     

    CHARTER
      COMMUNICATIONS, INC.

     

    By:                                                                           

     

    Name:

     

    Title:

     

    

     

    Countersigned:

     

    MELLON
      INVESTOR SERVICES LLC

     

    By:  _________________________________

    Name:

    Title:

    

    

    
      
        
                

                         

             

                    Signature
              page for Rights
              Certificate      
    

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    Form
      of
      Reverse Side of Rights Certificate

     

    FORM
      OF ASSIGNMENT

     

    (To
      be
      executed by the registered holder if such holder desires to transfer the Rights
      Certificate)

     

    FOR
      VALUE
      RECEIVED, _______________________ hereby sells, assigns and transfers
      unto

     

     

    _____________________________________________________________________________

     

    (Please
      print name and address of transferee)

     

    this
      Rights Certificate, together with all right, title and interest therein, and
      does hereby irrevocably constitute and appoint Attorney, to transfer the within
      Rights Certificate on the books of the within-named Company, with full power
      of
      substitution.

     

    Dated
      :  __________, __________________

     

     

    _________________________________________

     

    Signature

     

    Signature(s)
      Guaranteed:

     

    SIGNATURE(S)
      SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS,
      SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
      SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE
      17Ad-15.

     

    _________________

     

    The
      undersigned hereby certifies that the Rights evidenced by this Rights
      Certificate are not beneficially owned by an Acquiring Person or an Affiliate
      or
      Associate thereof (as defined in the Rights Agreement).

     

    __________________________________________

     

    Signature

     

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    CERTIFICATE

     

    The
      undersigned hereby certifies by checking the appropriate boxes
      that:

     

    (1)           the
      Rights evidenced by this Rights Certificate q are q
      are not being sold,
      assigned, transferred, split up, combined or exchanged by or on behalf of a
      Person who is or was an Acquiring Person or an Affiliate or Associate of any
      such Person (as such terms are defined in the Rights Agreement);
      and

     

    (2)           after
      due inquiry and to the best knowledge of the undersigned, it q did q
      did not acquire the
      Rights evidenced by this Rights Certificate from any Person who is, was or
      became an Acquiring Person or an Affiliate or Associate of an Acquiring
      Person.

     

    Dated:  _________,
      ___________________

     

    __________________________________________

     

    Signature

     

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    Form
      of
      Reverse Side of Rights Certificate – continued

     

    FORM
      OF ELECTION TO PURCHASE

     

    (To
      be
      executed if holder desires to exercise the Rights Certificate)

     

    To
      Charter Communications, Inc.:

     

    The
      undersigned hereby irrevocably elects to exercise ________________ Rights
      represented by this Rights Certificate to purchase the one one-thousandths
      of a
      Preferred Share or other securities issuable upon the exercise of such Rights
      and requests that certificates for such securities be issued in the name of
      and
      delivered to:

     

    Please
      insert social security or other identifying
      number:  _________________________

     

    ______________________________________________________________________________

     

    (Please
      print name and address)

     

    If
      such
      number of Rights is not all the Rights evidenced by this Rights Certificate,
      a
      new Rights Certificate for the balance remaining of such Rights will be
      registered in the name of and delivered to:

     

    Please
      insert social security or other identifying
      number:  _______________________________

     

    ______________________________________________________________________________

     

     

    (Please
      print name and address)

     

     

    Dated:  ___________,
      __________________

     

    __________________________________________

     

    Signature

     

    Signature(s)
      Guaranteed:

     

    SIGNATURE(S)
      SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS,
      SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
      SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE
      17Ad-15.

     

    _________________

     

    The
      undersigned hereby certifies that the Rights evidenced by this Rights
      Certificate are not beneficially owned by an Acquiring Person or an Affiliate
      or
      Associate thereof (as defined in the Rights Agreement).

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

    __________________________________________

     

    Signature

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    CERTIFICATE

     

    The
      undersigned hereby certifies by checking the appropriate boxes
      that:

     

    (1)           the
      Rights evidenced by this Rights Certificate q are q
      are not being exercised
      by or on behalf of a Person who is or was an Acquiring Person or an Affiliate
      or
      Associate of any such Person (as such terms are defined pursuant to the Rights
      Agreement); and

     

    (2)           after
      due inquiry and to the best knowledge of the undersigned, it q did q
      did not acquire the
      Rights evidenced by this Rights Certificate from any Person who is, was, or
      became an Acquiring Person or an Affiliate or Associate of an Acquiring
      Person.

     

    Dated:  ______________,
      _____________

     

    __________________________________________

     

    Signature

     

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    NOTICE

     

    Signatures
      on the foregoing Form of Assignment and Form of Election to Purchase and in
      the
      related Certificates must correspond to the name as written upon the face of
      this Rights Certificate in every particular, without alteration or enlargement
      or any change whatsoever.

     

    In
      the event the certification set forth above in the Form of Assignment or the
      Form of Election to Purchase, as the case may be, is not completed, the Company
      and the Rights Agent will deem the beneficial owner of the Rights evidenced
      by
      this Rights Certificate to be an Acquiring Person or an Affiliate or Associate
      thereof (as defined in the Rights Agreement) and such assignment or election
      purchase will not be honored.

     

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

     

    Exhibit
      C

     

    SUMMARY
      OF RIGHTS

     

    On
      August
      13, 2007, the Board of Directors (the "Board") of
      Charter Communications, Inc., a Delaware corporation (the
      "Company"), adopted a rights plan and declared a
      dividend of one preferred share purchase right for each outstanding share of
      Class A common stock and Class B common stock.  The dividend is
      payable to our stockholders of record as of August 31, 2007.  The
      terms of the rights and the rights plan are set forth in a Rights Agreement,
      by
      and between us and Mellon Investor Services LLC, a New Jersey limited liability
      company, as Rights Agent, dated as of August 14, 2007 (the "Rights
      Plan").

     

    This
      summary of rights provides only a general description of the Rights Plan, and
      thus, should be read together with the entire Rights Plan, which is incorporated
      into this summary by reference.  All capitalized terms used herein but
      not defined herein shall have the meanings ascribed to such terms in the Rights
      Plan.  Upon written request, Charter will provide a copy of the Rights
      Plan free of charge to any of its stockholders.

     

    Our
      Board
      adopted the Rights Plan in an effort to protect stockholder value by attempting
      to protect against a possible limitation on our ability to use our net operating
      loss carryforwards (the "NOLs") to reduce potential
      future federal income tax obligations.  We have experienced and
      continue to experience substantial operating losses, and under the Internal
      Revenue Code and rules promulgated by the Internal Revenue Service, we may
      "carry forward" these losses in certain circumstances to offset any current
      and
      future earnings and thus reduce our federal income tax liability, subject to
      certain requirements and restrictions.  To the extent that the NOLs do
      not otherwise become limited, we believe that we will be able to carry forward
      a
      substantial amount of NOLs, and therefore these NOLs could be a substantial
      asset to us.  However, if we experience an "Ownership Change," as
      defined in Section 382 of the Internal Revenue Code, our ability to use the
      NOLs
      could be substantially limited, and the timing of the usage of the NOLs could
      be
      substantially delayed, which could therefore significantly impair the value
      of
      that asset.

     

    The
      Rights Plan is intended to act as a deterrent to any person or group acquiring
      5.0% or more of our outstanding Class A common stock (an "Acquiring
      Person") without the approval of our Board.  The
      holdings of independently managed mutual funds should not be combined for
      purposes of calculating ownership percentages under the Rights
      Plan. Stockholders who own 5.0% or more of our outstanding Class A common
      stock as of the close of business on August 31, 2007 will not trigger the Rights
      Plan so long as they do not acquire any additional shares of Class A common
      stock.  The Rights Plan does not exempt any future acquisitions of
      Class A common stock by such persons. Any rights held by an Acquiring
      Person are void and may not be exercised.  Our Board may, in its sole
      discretion, exempt any person or group from being deemed an Acquiring Person
      for
      purposes of the Rights Plan.

     

    The
      Rights.  Our Board authorized the issuance of one right per each
      outstanding share of our Class A common stock and Class B common stock on August
      31, 2007.  Subject to the terms, provisions and conditions of the
      Rights Plan, if the rights become exercisable, each right would initially
      represent the right to purchase from us one one-thousandth of a share of
      our

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

    Series
      B
      Junior Preferred Stock for a purchase price of $25.00.  If issued,
      each fractional share of preferred stock would give the stockholder
      approximately the same dividend and liquidation rights as does one share of
      our
      Class A common stock.  However, prior to exercise, a right does not
      give its holder any rights as a stockholder of the Company, including without
      limitation any dividend, voting or liquidation rights.

     

    Exercisability.  The
      rights will not be exercisable until 10 business days after a public
      announcement by us that a person or group has become an Acquiring
      Person.

     

    We
      refer
      to the date that the rights become exercisable as the "Distribution
      Date."  Until the Distribution Date, our Class A common
      stock and Class B common stock certificates will evidence the rights and will
      contain a notation to that effect.  Any transfer of shares of Class A
      common stock and/or Class B common stock prior to the Distribution Date will
      constitute a transfer of the associated rights.  After the
      Distribution Date, no right may be transferred other than in connection with
      the
      transfer of the underlying shares of Class A common stock or Class B common
      stock unless and until our Board has determined, with the consent of a majority
      of the shares of Class B common stock, not to effect an exchange pursuant to
      the
      Rights Plan (as described below).

     

    
      Exchange.  Except
        as may be determined by the Board, with the consent of a majority of the
        shares
        of Class B common stock, after the Distribution Date, our Board will exchange
        all of the then-outstanding, valid and exercisable rights, except rights
        held by
        any Acquiring Person or any Affiliate, Associate or transferee of any Acquiring
        Person, for 2.5 shares of Class A common stock and/or Class B common stock,
        as
        applicable, or an equivalent security.

       

    

    "Flip-in
      Event."  After the Distribution Date, as
      may be
      determined by the Board, with the consent of a majority of the shares of Class
      B
      Common Stock, all holders of rights, except any Acquiring Person or any
      affiliate, associate or transferee of any Acquiring Person, may exercise their
      rights upon payment of the purchase price to purchase five (5) shares of our
      Class A common stock and/or Class B common stock, as applicable (or other
      securities or assets as determined by our Board) at a 50% discount to the then
      current market price ("Purchase
      Price").  

     

    Rights
      may be exercised to purchase preferred shares only if the Distribution
      Date occurs prior to the occurrence of a Flip-in Event.  However,
      because a Distribution Date would necessarily follow the occurrence of
      a Flip-in Event, the rights could only be exercised for common stock or other
      securities as described above.

    
       

      Upon
        an
        issuance of Class A common stock and/or Class B common stock under the Rights
        Plan, additional membership units will be issued to the Company, as holder
        of
        the Class B common membership units, by Charter Communications Holding Company,
        LLC ("Holdco"), to mirror at Holdco the economic
        effect of such issuance of common stock.  Holders of the Holdco common
        membership units that are convertible into shares of our Class B common stock
        will have equivalent rights which may be exercised, on generally the same
        terms
        and conditions as set forth in the Rights Plan, for additional Holdco common
        membership units.

       

    

         
      Expiration.  The rights and the Rights Plan will expire on the
      earlier of: (i) a determination by holders of a majority of the shares of Class
      B common stock to terminate the Rights Plan, (ii) the Close of Business on
      December 31, 2008, (iii) the Close of Business on the date on which we make
      a
      public announcement (by press release, filing made with the Securities

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
and Exchange Commission or otherwise) that our Board
      has
      determined that the Company's Section 382 Ownership Level  (as
      defined in the Rights Plan) dropped below 25%, (iv) the time at which the
      rights are redeemed as provided in the Rights Plan, and (v) the time at which
      the rights are exchanged as provided in the Rights Plan.
       

      Redemption.  Prior
        to the Expiration Date, our Board may, at its option, redeem all but not
        less
        than all of the then-outstanding rights at the redemption price of $0.001
        per
        right, as such amount may be appropriately adjusted to reflect any stock
        split,
        stock dividend or similar transaction occurring after the date of the Rights
        Plan at any time prior to the Close of Business on the Distribution
        Date.  Once the rights are redeemed, the right to exercise rights will
        terminate, and the only right of the holders of rights will be to receive
        the
        redemption price.

       

      Anti-Dilution
        Provisions.  Our Board may adjust the purchase price of the
        preferred shares, the number of preferred shares issuable and the number
        of
        outstanding rights to prevent dilution that may occur as a result of certain
        events, including among others, a stock dividend, a stock split or a
        reclassification of the preferred shares or our Class A common stock or Class
        B
        common stock.  No adjustments to the purchase price of less than 1%
        will be made.

       

      Amendments.  Before
        the Distribution Date, our Board may amend or supplement the Rights Plan
        without
        the consent of the holders of the Rights in respect of our Class A common
        stock.  After the Distribution Date, our Board may amend or supplement
        the Rights Plan only to cure an ambiguity, to alter time period provisions,
        to
        correct inconsistent provisions, or to make any additional changes to the
        Rights
        Plan, but only to the extent that those changes do not impair or adversely
        affect any rights holder and do not result in the rights again becoming
        redeemable.  Notwithstanding the foregoing, the Company and the Rights
        Agent shall not supplement or amend the Rights Plan without the prior approval
        of the holders of a majority of the Class B common stock.

       

      
        
          55exhibit4_3.htm

                                                                                            Exhibit
      4.3

     

    August
      14, 2007

     

    Charter
      Investment, Inc.

    Vulcan
      Cable III Inc.

    505
      Fifth
      Avenue South, Suite 900

    Seattle,
      WA  98104

     

    Ladies
      and Gentlemen:

     

    Charter
      Communications, Inc. ("CCI") has entered into a Rights Agreement (the
      "CCI Rights Agreement") between CCI and Mellon Investor Services LLC,
      dated as of August 14, 2007, which is attached hereto as Exhibit
      A.  All capitalized terms used herein but not defined herein shall
      have the meanings ascribed to such terms in the CCI Rights
      Agreement.

     

    In
      connection with the CCI Rights Agreement, the Board of Directors of CCI
      authorized and declared a dividend distribution of one right (each a "CCI
      Right") for each share of Class A common stock, par value $0.001 per share,
      of CCI (the "Class A Common Stock") and one CCI Right for each share of
      Class B common stock, par value $0.001 per share, of CCI (the "Class B Common
      Stock") outstanding at the Close of Business on August 31,
      2007.  Each CCI Right initially represents the right to purchase one
      one-thousandth of a share of CCI's Series B Junior Preferred Stock ("Series B
      Preferred Stock"), upon the terms and subject to the conditions set forth in
      the CCI Rights Agreement.  Upon the public announcement of the
      occurrence of a Flip-in Event, such CCI Rights will convert into the right
      to
      purchase or receive additional shares of Class A Common Stock or Class B Common
      Stock, as the case may be, in accordance with the provisions of the CCI Rights
      Agreement.

     

    The
      purpose of this letter is to clarify the treatment of the interests of CCI
      and
      each Allen Entity (as defined below) in Charter Communications Holding Company,
      LLC ("Holdco") with respect to the CCI Rights Agreement and in particular
      with respect to (1) Sections 4(a)(ii) and 4(b)(ii)(B) of CCI's Restated
      Certificate of Incorporation, as amended, and (2) Sections 3.1.3(g), 3.1.3(h),
      3.6.4(b), 3.6.4(c), and 5.1.7 of Holdco's Amended and Restated Limited Liability
      Company Agreement, as amended (the "Holdco LLC Agreement"), which require
      Holdco to mirror CCI's capital structure, as reasonably determined by CCI,
      in
      its capacity as the manager of Holdco (the "Manager").  For
      purposes hereof, "Allen Entity" shall mean Charter Investment, Inc.,
      Vulcan Cable III, Inc. and the other Allen Entities defined in the Exchange
      Agreement, dated as of November 12, 1999 (the "Exchange Agreement"),
      among CCI, Charter Investment, Inc., Vulcan Cable III, Inc. and Paul G. Allen
      ("Mr. Allen") and shall include their respective permitted
      transferees.

     

    CCI,
      as
      the holder of the Holdco Class B common membership units (the "Class B
      Units"), shall be deemed for all purposes, at the time of the distribution
      of CCI Rights, to have received one right (a "Class B Holdco Right") in
      respect of the Class B Units owned by CCI.  If, and only if, any
      shares of Class A Common Stock and/or Class B Common Stock and/or Series B
      Preferred Stock are issued by CCI pursuant to the exercise or exchange of Rights
      under the CCI Rights Agreement, CCI, as the holder of the Class B Units will
      be
      deemed to have exercised 

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

       

      the
        Class
        B Holdco Right for such number of additional membership units of Holdco as
        described below.

    

     

    Upon
      CCI's exercise of its Class B Holdco Right, Holdco will issue to CCI, as the
      holder of the Class B Units, after contribution to Holdco of the aggregate
      Purchase Price, if any, received by CCI attributable to the exercise of CCI
      Rights under the CCI Rights Agreement, (1) a number of Class B Units equal
      to
      the sum of (x) the number of shares of Class A Common Stock, if any, and (y)
      the
      number of shares of Class B Common Stock, if any, issued pursuant to the CCI
      Rights Agreement and (2) a number of preferred units ("Holdco Preferred
      Units") equal to the number of shares of Series B Preferred Stock, if any,
      issued pursuant to the CCI Rights Agreement, with such Holdco Preferred Units
      having terms and conditions that mirror, to the extent practicable, the terms
      and conditions of the Series B Preferred Stock, as reasonably determined by
      the
      Manager.

     

    In
      consideration for, among other things, Mr. Allen's consent, as holder of the
      Class B Common Stock, to the adoption of the CCI Rights Agreement and the
      corresponding amendments to CCI's certificate of incorporation, CCI, in its
      capacity as Manager and as a member of Holdco, hereby acknowledges and agrees
      as
      follows:

     

    1.  Each
      Allen Entity shall, at the time of the distribution of CCI Rights, receive
      one
      right (the "Allen Holdco Right") for each Holdco common membership unit
      then owned by such Allen Entity (the "Exchangeable Holdco
      Units").

     

    2.   Each
      Allen Holdco Right shall entitle the holder thereof to the same rights as a
      holder of CCI Rights, except that the Allen Holdco Rights are exercisable for,
      or convertible into, Exchangeable Holdco Units or Holdco Preferred Units, as
      applicable.

     

    3.  Exercise
      of the Allen Holdco Right is subject to the payment of the Purchase Price then
      in effect if and to the extent (and only to the extent) such Purchase Price
      is
      payable in connection with the exercise of the CCI Rights. For the avoidance
      of
      doubt, the aggregate amount, if any, payable by an Allen Entity upon exercise
      of
      Allen Holdco Rights shall, under no circumstances, exceed the aggregate Purchase
      Price that such Allen Entity would have paid to exercise an equivalent number
      of
      CCI Rights had such Allen Entity exchanged its Exchangeable Holdco Units into
      Class B Common Stock immediately prior to such exercise.

     

    4.  Notwithstanding
      anything herein to the contrary, no Allen Holdco Right may be exercised prior
      to
      the Distribution Date.

     

    5.  The
      Manager may from time to time make such other adjustments as it reasonably
      determines to be necessary or appropriate to mirror at Holdco the overall
      economic effect of the CCI Rights Agreement and any issuance of Class A Common
      Stock and/or Class B Common Stock and/or Series B Preferred Stock
      thereunder.   The Manager may from time to time take all actions
      and direct or cause to be done all such acts or things to effectuate or carry
      out the intent of this letter agreement. Notwithstanding the foregoing, the
      Manager shall not make any adjustments to the interests in Holdco, or take
      or
      cause to be taken any other action, including without limitation, amendments,
      modifications or waivers of the Holdco LLC Agreement, that in 

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

       

      any
        such
        case would adversely affect the Allen Entities in a manner different from
        any
        other holders of Holdco membership units.

    

     

    6.  For
      the
      avoidance of doubt, any and all Exchangeable Holdco Units issued from time
      to
      time to an Allen Entity upon exercise of Allen Holdco Rights shall be
      exchangeable into shares of common stock of CCI in accordance with the terms
      of
      the Exchange Agreement.

     

    7.  For
      all
      purposes of this letter agreement, any calculation of the number of Exchangeable
      Holdco Units or Class B Units or any other class of units outstanding at any
      particular time shall be made in accordance with the last sentence of Rule
      13d-3(d)(1)(i) of the General Rules and Regulations under the Exchange Act.
      All
      such calculations, interpretations and determinations (including, for purposes
      of clause (y) below, all omissions with respect to the foregoing) which are
      done
      or made by the Manager in good faith, shall (x) be final, conclusive and binding
      and (y) not subject the Manager or any of the officers or directors of the
      Manager to any liability to any person.

     

    8.  For
      the
      avoidance of doubt, the parties agree and acknowledge that Sections 3.1.3(g),
      3.6.4(c) and 5.1.7 of the Holdco LLC Agreement shall not require CCI to
      contribute any cash or assets to Holdco in the event that the CCI Rights are
      exchanged into shares of CCI common stock pursuant to Section 23 of the CCI
      Rights Plan.

     

    9.  This
      letter agreement shall terminate on the Expiration Date of the CCI Rights
      Agreement.

     

    10.  This
      letter agreement is intended to supplement the terms and provisions of the
      Holdco LLC Agreement.  In the event of a conflict, with respect to the
      CCI Rights Agreement, between any terms and provisions of this letter agreement
      and those in the Holdco LLC Agreement, the terms and provisions of this letter
      agreement shall control.

     

    [Reminder
      of page left intentionally blank]

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    
      Please
        sign below to confirm your agreement to, and acceptance of, the terms of
        this
        letter agreement, effective as of the date first written above.  This
        letter agreement shall be deemed to be a contract made under the laws of
        the
        State of Delaware and for all purposes shall be governed by and construed
        in
        accordance with the laws of such State applicable to contracts made and to
        be
        performed entirely within such State.  This letter agreement may be
        executed in any number of counterparts and each of such counterparts shall
        for
        all purposes be deemed to be an original, and all such counterparts shall
        together constitute but one and the same instrument.

       

                              Sincerely,

      

                              CHARTER
        COMMUNICATIONS, INC.

                              as
        Manager and member
        of Charter Communications Holding Company, LLC

      

      

                              _____/s/
        Jeffrey
        T. Fisher____________________

                              Name:  Jeffrey
        T. Fisher

                              Title:    Executive
        Vice President and Chief FinancialOfficer

       

      

       

      

       

                              AGREED
        AND
        ACCEPTED:

       

                              CHARTER
        INVESTMENT,
        INC.

       

       

                              _____/s/
        W. Lance
        Conn_______________

                              Name:  W.
        Lance Conn

                              Title:  Vice
        President

       

      

       

                              VULCAN
        CABLE III
        INC.

       

       

                              _____/s/
        Paul G.
        Allen________________

                              Name: Paul
        G.
        Allen

                              Title:

      
 

    

    

    
      
        Signature
          page to letter agreement

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

    
 

     

    RIGHTS
      AGREEMENT

     

     

    dated
      as of

     

    August
      14, 2007

     

     

    between

    
 

     

    CHARTER
      COMMUNICATIONS, INC.

     

    and

     

     

    MELLON
      INVESTOR SERVICES LLC

     

    Rights
      Agent

     

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    TABLE
      OF CONTENTS

     

    
      
        	 	 	
                PAGE

              
	
                Section
                  1

              	
                Certain
                  Definitions

              	
                1

              
	
                Section
                  2

              	
                Appointment
                  of Rights Agent

              	
                6

              
	
                Section
                  3

              	
                Issuance
                  of Rights Certificates

              	
                6

              
	
                Section
                  4

              	
                Form
                  of Rights Certificates

              	
                8

              
	
                Section
                  5

              	
                Countersignature
                  and Registration

              	
                8

              
	
                Section
                  6

              	
                Transfer,
                  Split-Up, Combination and Exchange of Rights Certificates;

                Mutilated,
                  Destroyed, Lost or Stolen Rights Certificates

              	
                9

              
	
                Section
                  7

              	
                Exercise
                  of Rights; Purchase Price; Expiration Date of Rights

              	
                10

              
	
                Section
                  8

              	
                Cancellation
                  and Destruction of Rights Certificates

              	
                11

              
	
                Section
                  9

              	
                Company
                  Covenants Concerning Securities and Rights

              	
                11

              
	
                Section
                  10

              	
                Record
                  Date

              	
                13

              
	
                Section
                  11

              	
                Adjustment
                  of Purchase Price, Number and Kind of Securities

                or
                  Number of Rights

              	
                13

              
	
                Section
                  12

              	
                Certificate
                  of Adjusted Purchase Price or Number of Shares

              	
                20

              
	
                Section
                  13

              	
                Fractional
                  Rights and Fractional Shares

              	
                21

              
	
                Section
                  14

              	
                Rights
                  of Action

              	
                22

              
	
                Section
                  15

              	
                Agreement
                  of Rights Holders

              	
                23

              
	
                Section
                  16

              	
                Rights
                  Certificate Holder Not Deemed a Stockholder

              	
                23

              
	
                Section
                  17

              	
                Concerning
                  the Rights Agent

              	
                24

              
	
                Section
                  18

              	
                Merger,
                  Consolidation or Change of Name of Rights Agent

              	
                24

              
	
                Section
                  19

              	
                Duties
                  of Rights Agent

              	
                25

              
	
                Section
                  20

              	
                Change
                  of Rights Agent

              	
                27

              
	
                Section
                  21

              	
                Issuance
                  of New Rights Certificates

              	
                28

              
	
                Section
                  22

              	
                Redemption

              	
                28

              

      

    

     

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

     

     

    
      
         

        
          
            	
                    Section
                      23

                  	
                    Exchange

                  	
                    29

                  
	
                    Section
                      24

                  	
                    Notice
                      of Certain Events

                  	
                    30

                  
	
                    Section
                      25

                  	
                    Notices

                  	
                    31

                  
	
                    Section
                      26

                  	
                    Supplements
                      and Amendments

                  	
                    32

                  
	
                    Section
                      27

                  	
                    Successors

                  	
                    33

                  
	
                    Section
                      28

                  	
                    Determinations
                      and Actions by the Board

                  	
                    33

                  
	
                    Section
                      29

                  	
                    Benefits
                      of this Agreement

                  	
                    33

                  
	
                    Section
                      30

                  	
                    Severability

                  	
                    34

                  
	
                    Section
                      31

                  	
                    Governing
                      Law

                  	
                    34

                  
	
                    Section
                      32

                  	
                    Counterparts

                  	
                    34

                  
	
                    Section
                      33

                  	
                    Descriptive
                      Headings; Interpretation

                  	
                    34

                  
	
                    Section
                      34

                  	
                    Termination

                  	
                    35

                  

          

        

         

      

       

    

    EXHIBITS

     

    Exhibit
      A:                                Form
      of Certificate of Designation of Series B Junior Preferred Stock

     

    Exhibit
      B:                                Form
      of Rights Certificate

     

    Exhibit
      C:                                Summary
      of Rights

    

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

     

    RIGHTS
      AGREEMENT

     

    RIGHTS
      AGREEMENT, dated as of August 14, 2007 (the "Agreement"), between Charter
      Communications, Inc., a Delaware corporation (the "Company"), and Mellon
      Investor Services LLC, a New Jersey limited liability company (the "Rights
      Agent").

     

    W
      I T N E S S E T H

     

    WHEREAS,
      on August 13, 2007 (the "Rights Dividend Declaration Date"), the Board
      authorized and declared a dividend distribution of one right (a "Right")
      for each share of Class A common stock, par value $0.001 per share, of the
      Company (the "Class A Common Stock") and one Right for each share of
      Class B common stock, par value $0.001 per share, of the Company (the "Class
      B Common Stock") outstanding at the Close of Business (as hereinafter
      defined) on August 31, 2007 (the "Record Date"), each Right initially
      representing the right to purchase one one-thousandth of a share of Preferred
      Stock (as hereinafter defined) of the Company, upon the terms and subject to
      the
      conditions hereinafter set forth, and further authorized and directed the
      issuance of one Right (subject to adjustment as provided herein) with respect
      to
      each share of Class A Common Stock and each share of Class B Common Stock issued
      or delivered by the Company (whether originally issued or delivered from the
      Company's treasury) after the Record Date but prior to the earlier of the
      Distribution Date (as hereinafter defined) and the Expiration Date (as
      hereinafter defined) or as provided in Section 21.

     

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

     

    Section
      1                      Certain
      Definitions

     

    For
      purposes of this Agreement, the following terms shall have the meanings
      indicated:

     

    (a)  "Acquiring
      Person" shall mean any Person (other than the Company, any Related Person or
      any Exempt Person) with respect to whom the Board has made a determination
      that
      that Person has become, in itself or, together with all Affiliates and
      Associates of such Person, the Beneficial Owner of 5.0% or more of the shares
      of
      Class A Common Stock then-outstanding, provided, however, that any
      Person who would otherwise qualify as an Acquiring Person as of the Close of
      Business on the Record Date will not be deemed to be an Acquiring Person for
      any
      purpose of this Agreement on and after such date unless and until such time
      as
      such stockholder acquires the beneficial ownership of one additional share
      of
      Class A Common Stock, and provided, further, that a Person will
      not be deemed to have become an Acquiring Person solely as a result of (i)
      a
      reduction in the number of shares of Class A Common Stock outstanding, (ii)
      the
      exercise of any options, warrants, rights or similar interests (including
      restricted stock) granted by the Company to its directors, officers and
      employees, (iii) any unilateral grant of any security by the Company, or (iv)
      an
      Exempt Transaction, unless and until such time as such stockholder acquires
      the
      beneficial ownership of one additional share of Class A Common Stock. The Board
      shall not make any determination with respect to a potential Acquiring Person
      until five (5) Business Days after the date on which all Board members first
      received notice of the change of beneficial ownership at
      issue.  Notwithstanding the foregoing, the Board may, in
      its 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      sole
        discretion, determine that any Person shall not be deemed to be an "Acquiring
        Person" for any purposes of this Agreement.  

    

     

    (b)  "Act"
      shall mean the Securities Act of 1933, as amended.

     

    (c)  "Affiliate"
      and "Associate" shall have the respective meanings ascribed to such terms
      in Rule 12b-2 of the General Rules and Regulations under the Exchange Act as
      in
      effect on the date of this Agreement, and to the extent not included within
      the
      foregoing clause of this Section 1(c), shall also include, with respect to
      any
      Person, any other Person (whether or not a Related Person or an Exempt Person)
      whose shares of Class A Common Stock or Class B Common Stock would be deemed
      constructively owned by such first Person, owned by a single "entity" as defined
      in Section 1.382-3(a)(1) of the Treasury Regulations, or otherwise aggregated
      with shares owned by such first Person pursuant to the provisions of Section
      382
      of the Internal Revenue Code of 1986, as amended (the "Code"), or any
      successor provision or replacement provision, and the Treasury Regulations
      thereunder, provided, however, that a Person shall not be deemed
      to be the Affiliate or Associate of another Person solely because either or
      both
      Persons are or were directors of the Company.

     

    (d)  "Agreement"
      shall have the meaning set forth in the preamble of this Agreement.

     

    (e)  A
      Person
      shall be deemed the "Beneficial Owner" of, and to "beneficially
      own" any securities:

     

    (i)  which
      such Person or any of such Person's Affiliates or Associates, directly or
      indirectly, has the right to acquire (whether such right is exercisable
      immediately or only after the passage of time) pursuant to any agreement,
      arrangement or understanding (whether or not in writing) or upon the exercise
      of
      conversion rights, exchange rights, warrants, options, or other rights (in
      each
      case, other than upon exercise or exchange of the Rights); provided,
however, that a Person shall not be deemed the "Beneficial Owner"
      of, or to "beneficially own" securities (including rights, options or
      warrants) which are convertible or exchangeable into Class A Common Stock until
      such time as the convertible or exchangeable securities are exercised and
      converted or exchanged into Class A Common Stock except to the extent the
      acquisition or transfer of such rights, options or warrants would be treated
      as
      exercised on the date of its acquisition or transfer under Section 1.382-4(d)
      of
      the Treasury Regulations; and, provided further, however, that a
      Person shall not be deemed the Beneficial Owner of, or to beneficially own
      securities tendered pursuant to a tender or exchange offer made by such Person
      or any of such Person's Affiliates or Associates until such tendered securities
      are accepted for purchase or exchange;

     

    (ii)  which
      such Person or any of such Person's Affiliates or Associates, directly or
      indirectly, has or shares the right to vote or dispose of, or has "beneficial
      ownership" of (as defined under Rule 13d-3 of the General Rules and Regulations
      under the Exchange Act), including pursuant to any agreement, arrangement or
      understanding (whether or not in writing), but only if the effect of such
      agreement, arrangement or understanding is to treat such Persons as an "entity"
      under Section 1.382-3(a)(1) of the Treasury Regulations; or

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (iii)   of
      which any other person is the Beneficial Owner, if such Person or any of such
      Person's Affiliates or Associates has any agreement, arrangement or
      understanding (whether or not in writing) with such other Person (or any of
      such
      other Person's Affiliates or Associates) with respect to acquiring, holding,
      voting or disposing of any securities of the Company, but only if the effect
      of
      such agreement, arrangement or understanding is to treat such Persons as an
      "entity" under Section 1.382-3(a)(1) of the Treasury Regulations;

     

    provided,
      however, that a Person shall not be deemed the "Beneficial Owner" of, or
      to "beneficially own" any security (A) if such Person has the right to vote
      such
      security pursuant to an agreement, arrangement or understanding (whether or
      not
      in writing) which (1) arises solely from a revocable proxy given to such Person
      in response to a public proxy or consent solicitation made pursuant to, and
      in
      accordance with, the applicable rules and regulations of the Exchange Act and
      (2) is not also then reportable on Schedule 13D under the Exchange Act (or
      any
      comparable or successor report), or (B) if such beneficial ownership arises
      solely as a result of such Person's status as a "clearing agency," as defined
      in
      Section 3(a)(23) of the Exchange Act; provided further,however,
      that nothing in this Section 1(e) shall cause a Person engaged in business
      as an
      underwriter of securities to be the Beneficial Owner of, or to "beneficially
      own," any securities acquired through such Person's participation in good faith
      in an underwriting syndicate until the expiration of 40 calendar days after
      the
      date of such acquisition, and then only if such securities continue to be owned
      by such Person at the expiration of such 40 calendar days, or such later date
      as
      the directors of the Company may determine in any specific
      case.  Notwithstanding anything herein to the contrary, to the extent
      not within the foregoing provisions of this Section 1(e), a Person shall be
      deemed the "Beneficial Owner" of and shall be deemed to "beneficially own"
      or
      have "beneficial ownership" of, securities which such Person would be deemed
      to
      constructively own or which otherwise would be aggregated with shares owned
      by
      such pursuant to Section 382 of the Code, or any successor provision or
      replacement provision and the Treasury Regulations thereunder.

     

    (f)  "Board"
      shall mean the Board of Directors of the Company.

     

    (g)  "Business
      Day" shall mean any day other than a Saturday, Sunday or a day on which
      banking institutions in the States of New York, New Jersey or Missouri are
      authorized or obligated by law or executive order to close.

     

    (h)  "Class
      A Common Stock" shall have the meaning set forth in the preamble of this
      Agreement.

     

    (i)  "Class
      B Common Stock" shall have the meaning set forth in the preamble of this
      Agreement.

     

    (j)  "Close
      of Business" on any given date shall mean 5:00 P.M., New York City time, on
      such date; provided, however, that if such date is not a Business
      Day, it shall mean 5:00 P.M., New York City time, on the next succeeding
      Business Day.

     

    (k)  "Code"
      shall have the meaning set forth in Section 1(c) hereof.

     

    (l)  "Company"
      shall have the meaning set forth in the preamble of this Agreement.

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    (m)  "Company's
      Certificate of Incorporation" shall mean the Restated Certificate of
      Incorporation of the Company, as amended.

     

    (n)  "Current
      Per Share Market Price" shall have the meaning set forth in Section 11(d)(i)
      or Section 11(d)(ii) hereof, as applicable.

     

    (o)  "Distribution
      Date" shall mean the Close of Business on the tenth Business Day after the
      Stock Acquisition Date.

     

    (p)  "Equivalent
      Common Stock" shall have the meaning set forth in Section 11(a)(iii)
      hereof.

     

    (q)  "Equivalent
      Preferred Stock" shall have the meaning set forth in Section 11(b)
      hereof.

     

    (r)  "Exchange
      Act" shall mean the Securities Exchange Act of 1934, as
      amended.

     

    (s)  "Exchange
      Ratio" shall have the meaning set forth in Section 23(a) hereof

     

    (t)  "Exempt
      Person" shall mean a Person whose Beneficial Ownership (together with all
      Affiliates and Associates of such Person) of 5.0% or more of the
      then-outstanding Class A Common Stock would not, as determined by the Board
      in
      its sole discretion, jeopardize or endanger the availability to the Company
      of
      its NOLs, provided, however, that such a Person shall cease to be
      an "Exempt Person" if the Board makes a contrary determination with
      respect to such Person's Beneficial Ownership (together with all Affiliates
      and
      Associates of such Person) upon the availability to the Company of its
      NOLs.

     

    (u)  "Exempt
      Transaction" shall mean any transaction that the Board determines, in its
      sole discretion, is exempt, which determination shall be
      irrevocable.

     

    (v)  "Exercise
      Value" shall have the meaning set forth in Section 11(a)(iii)
      hereof.

     

    (w)  "Expiration
      Date" shall mean the earliest of (i) immediately following such time as
      notice is given to the Company, in accordance with the provisions of Section
      25
      hereof at the address set forth therein as of the date hereof, of a
      determination by holders of a majority of the shares of Class B Common Stock
      to
      terminate this Agreement, (ii) the Close of Business on December 31, 2008,
      (iii)
      the Close of Business on the date on which the Company makes a public
      announcement (by press release, filing made with the Securities and Exchange
      Commission or otherwise) that the Board has determined that the Company's
      Section 382 Ownership Level dropped below 25%, (iv) the time at which the
      Rights are redeemed as provided in Section 22 hereof, and (v) the time at which
      the Rights are exchanged as provided in Section 23 hereof.  For
      purposes of the Board's determination pursuant to sub-section (iii) above,
      the
      Board's good faith reliance on the representations of management shall be
      sufficient and the Board shall not be obligated to perform its own calculation
      with respect to the Company's purported Section 382 Ownership
      Level.

     

    (x)  "Flip-in
      Event" shall have the meaning set forth in Section 11(a)(ii).

     

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (y)  "NOLs"
      shall mean the Company's net operating loss carryforwards.

     

    (z)  "Person"
      shall mean any individual, firm, corporation, partnership, limited liability
      company, limited liability partnership, trust or other legal entity, group
      of
      persons making a "coordinated acquisition" of shares or otherwise treated as
      an
      entity within the meaning of Section 1.382-3(a)(1) of the Treasury Regulations
      or otherwise, and includes any successor (by merger or otherwise) of such
      individual or entity.

     

    (aa)  "Preferred
      Stock" shall mean shares of Series B Junior Preferred Stock, par value
      $0.001 per share, of the Company having the rights and preferences set forth
      in
      the form of Certificate of Designation of Series B Junior Preferred Stock
      attached hereto as Exhibit A.

     

    (bb)  "Purchase
      Price" shall mean initially $25.00 per one one-thousandth of a Preferred
      Stock, subject to adjustment from time to time as provided in this
      Agreement.

     

    (cc)  "Record
      Date" shall have the meaning set forth in the recitals to this
      Agreement.

     

    (dd)  "Redemption
      Price" shall have the meaning set forth in Section 22(a)
      hereof.

     

    (ee)  "Related
      Person" shall mean (i) any Subsidiary of the Company or (ii) any employee
      benefit or stock ownership plan of the Company or of any Subsidiary of the
      Company or any entity holding shares of Class A Common Stock or Class B Common
      Stock, as the case may be, for or pursuant to the terms of any such
      plan.

     

    (ff)  "Rights"
      shall have the meaning set forth in the recitals to this Agreement.

     

    (gg)  "Rights
      Agent" shall have the meaning set forth in the preamble of this
      Agreement.

     

    (hh)  "Rights
      Certificates" shall mean certificates evidencing the Rights, in
      substantially the form attached hereto as Exhibit B.

     

    (ii)  "Rights
      Dividend Declaration Date" shall have the meaning set forth in the recitals
      to this Agreement.

     

    (jj)  "Section
      382 Ownership Level" shall mean the percentage of the stock of the Company
      owned by one or more 5-percent shareholder (as defined in Section 382(k)(7)
      of
      the Code and the Treasury Regulations thereunder) over the lowest percentage
      of
      stock of the Company owned by such stockholders during the testing period (as
      defined in Section 382(i) of the Code and the Treasury Regulations
      thereunder).

     

    (kk)  "Securities
      Act" shall mean Securities Act of 1933, as amended.

     

    (ll)  "Stock
      Acquisition Date" shall mean the first date of public announcement (by press
      release, filing made with the Securities and Exchange Commission or otherwise),
      by the Company that a Flip-in Event has occurred.

     

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (mm)  "Subsidiary"
      shall mean, with reference to any Person, any corporation or other legal entity
      of which a majority of the voting power of the voting equity securities or
      equity interests is owned, directly or indirectly, by such Person, or otherwise
      controlled by such Person.

     

    (nn)  "Summary
      of Rights " shall mean a copy of a summary of the terms of the Rights, in
      substantially the form attached hereto as Exhibit C.

     

    (oo)  "Trading
      Day" shall mean a day on which the principal national securities exchange
      on
      which the shares of Class A Common Stock are listed or admitted to trading
      is
      open for the transaction of business or, with respect to the shares of Class
      B
      Common Stock which are not listed or admitted to trading on any national
      securities exchange, a Trading Day for the Class A Common Stock.

     

    (pp)  "Treasury
      Regulations" shall mean final, temporary and proposed income
      tax  regulations promulgated under the Code, including any amendments
      thereto.

     

    Section
      2                      Appointment
      of Rights Agent

     

    The
      Company hereby appoints the Rights Agent to act as agent for the Company in
      accordance with the terms and conditions hereof, and the Rights Agent hereby
      accepts such appointment.  The Company may from time to time appoint
      such co-rights agents as it may deem necessary or desirable.  The
      Rights Agent shall have no duty to supervise, and shall in no event be liable
      for, the acts or omission of any such co-rights agent.  Prior to the
      appointment of a co-rights agent, the specific duties and obligations of each
      such co-rights agents shall be set forth in writing and delivered to the Rights
      Agent and the proposed co-rights agent.  Any actions which may be
      taken by the Rights Agent pursuant to the terms of this Agreement may be taken
      by any such co-rights agent.  To the extent that any co-rights agent
      takes any action pursuant to this Agreement, such co-rights agent shall be
      entitled to all of the rights and protections of, and subject to all of the
      applicable duties and obligations imposed upon, the Rights Agent pursuant to
      the
      terms of this Agreement.

     

    Section
      3                      Issuance
      of Rights Certificates

     

    (a)  Until
      the
      Distribution Date, (i) the Rights shall be evidenced by the certificates
      representing the shares of Class A Common Stock or Class B Common Stock,
      registered in the names of the record holders thereof (which certificates
      representing such shares of Class A Common Stock and/or Class B Common Stock
      shall also be deemed to be Rights Certificates), (ii) the Rights shall be
      transferable only in connection with the transfer of the underlying shares
      of
      Class A Common Stock and/or Class B Common Stock, and (iii) the surrender
      for transfer of any certificates representing such shares of Class A Common
      Stock and/or Class B Common Stock in respect of which Rights have been issued
      shall also constitute the transfer of the Rights associated with the shares
      of
      Class A Common Stock and/or Class B Common Stock represented by such
      certificates.

     

    (b)  On
      or as
      promptly as practicable after the Record Date, the Company shall send by first
      class, postage prepaid mail, to each record holder of shares of Class A Common
      Stock and Class B Common Stock as of the Close of Business on the Record Date,
      at the address of 

     

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

       

      such
        holder shown on the records of the Company as of such date, a copy of a Summary
        of Rights to Purchase Preferred Stock.

    

     

    (c)  Rights
      shall be issued by the Company in respect of all shares of Class A Common Stock
      and Class B Common Stock (other than any shares of Class A Common Stock and
      Class B Common Stock that may be issued upon the exercise or exchange of any
      Right) issued or delivered by the Company (whether originally issued or
      delivered from the Company's treasury) after the Record Date but prior to the
      earlier of the Distribution Date and the Expiration
      Date.  Certificates representing such shares of Class A Common Stock
      and Class B Common Stock shall have stamped on, impressed upon, printed on,
      written on, or otherwise affixed to them a legend in substantially the following
      form, or as may be required to comply with any applicable law or with any rule
      or regulation made pursuant thereto or with any rule or regulation of any stock
      exchange or transaction reporting system on which the shares of Class A Common
      Stock may from time to time be listed or quoted:

     

    This
      certificate also evidences and entitles the holder hereof to certain Rights
      as
      set forth in the Rights Agreement between Charter Communications, Inc. and
      Mellon Investor Services LLC, dated as of August 14, 2007 (the "Rights
      Agreement"), the terms of which are hereby incorporated herein by reference
      and
      a copy of which is on file at the principal executive offices of Charter
      Communications, Inc.  The Rights are not exercisable prior to the
      occurrence of certain events specified in the Rights Agreement.  Under
      certain circumstances, as set forth in the Rights Agreement, such Rights may
      be
      redeemed, may be exchanged, may expire, may be amended, or may be evidenced
      by
      separate certificates and no longer be evidenced by this
      certificate.  Charter Communications, Inc. shall mail to the holder of
      this certificate a copy of the Rights Agreement, as in effect on the date of
      mailing, without charge promptly after receipt of a written request
      therefor.  Under certain circumstances as set forth in the Rights
      Agreement, Rights that are or were beneficially owned by an Acquiring Person
      or
      any Affiliate or Associate of an Acquiring Person (as such terms are defined
      in
      the Rights Agreement) may become null and void.

     

    (d)  Any
      Rights Certificate issued pursuant to this Section 3 or Section 21 hereof that
      represents Rights beneficially owned by an Acquiring Person or any of its
      Associates or Affiliates and any Rights Certificate issued at any time upon
      the
      transfer of any Rights to an Acquiring Person or any  of its
      Associates or Affiliates or to any nominee of such Acquiring Person, Associate
      or Affiliate and any Rights Certificate issued pursuant to Section 6 or 11
      hereof upon transfer, exchange, replacement or adjustment of any other Rights
      Certificate referred to in this sentence, shall be subject to and contain a
      legend in substantially the following form or as may be required to comply
      with
      any applicable law or with any rule or regulation made pursuant thereto or
      with
      any rule or regulation of any stock exchange on which the Rights may from time
      to time be listed:

     

    The
      Rights represented by this Rights Certificate are or were beneficially owned
      by
      a Person who was an Acquiring Person or an Affiliate or an Associate of an
      Acquiring Person (as such terms are defined in the Rights
      Agreement).  This Rights Certificate and the Rights represented hereby
      may become null and void in the circumstances specified in Section 11(a)(ii)
      of
      the Rights Agreement.

     

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

     

    (e)  As
      promptly as practicable after the Distribution Date, the Company shall prepare
      and execute, the Rights Agent shall countersign and the Company shall send
      or
      cause to be sent, by first class, insured, postage prepaid mail, to each record
      holder of shares of Class A Common Stock and Class B Common Stock, as of the
      Close of Business on the Distribution Date, at the address of such holder shown
      on the records of the Company, a Rights Certificate representing one Right
      for
      each share of Class A Common Stock and/or Class B Common Stock so held, subject
      to adjustment as provided herein.  As of and after the Distribution
      Date, the Rights shall be represented solely by such Rights
      Certificates.  The Company shall promptly notify the Rights Agent in
      writing upon the occurrence of the Distribution Date and, if such notification
      is given orally, the Company shall confirm same in writing on or prior to the
      next Business Day.  Until such notice is received by the Rights Agent,
      the Rights Agent may presume conclusively that the Distribution Date has not
      occurred.

     

    (f)  In
      the
      event that the Company purchases or otherwise acquires any shares after the
      Record Date but prior to the Distribution Date, any Rights associated with
      such
      shares of Class A Common Stock and/or Class B Common Stock shall be deemed
      canceled and retired so that the Company shall not be entitled to exercise
      any
      Rights associated with the shares of Class A Common Stock and/or Class B Common
      Stock so purchased or acquired.

     

    Section
      4                      Form
      of Rights Certificates

     

    The
      Rights Certificates (and the forms of election to purchase and of assignment
      to
      be printed on the reverse thereof) shall each be substantially in the form
      attached hereto as Exhibit B with such changes and marks of
      identification or designation, and such legends, summaries or endorsements
      printed thereon as the Company may deem appropriate (but which do not affect
      the
      rights, duties or obligations of the Rights Agent as set forth in this
      Agreement) and as are not inconsistent with the provisions of this Agreement,
      or
      as may be required to comply with any applicable law or with any rule or
      regulation made pursuant thereto or with any rule or regulation of any stock
      exchange on which the Rights may from time to time be listed, or to conform
      to
      usage.  Subject to the provisions of Section 21 hereof, the Rights
      Certificates, whenever distributed, shall be dated as of the Record Date and
      on
      their face shall entitle the holders thereof to purchase such number of one
      one-thousandths of a share of Preferred Stock as is set forth therein at the
      Purchase Price; provided, however, that the Purchase Price, the
      number and kind of securities issuable upon exercise of each Right and the
      number of Rights outstanding shall be subject to adjustments as provided in
      this
      Agreement.

     

    Section
      5                      Countersignature
      and Registration

     

    (a)  The
      Rights Certificates shall be executed on behalf of the Company by its Chairman
      of the Board, its President or any Vice President, either manually or by
      facsimile signature, and shall have affixed thereto the Company's seal or a
      facsimile thereof which shall be attested by the Secretary or an Assistant
      Secretary of the Company, either manually or by facsimile
      signature.  The Rights Certificates shall be countersigned by the
      Rights Agent, either manually or by facsimile signature and shall not be valid
      for any purpose unless so countersigned.  In case any officer of the
      Company who shall have signed any of the Rights Certificates shall cease to
      be
      such officer of the Company before countersignature by the Rights Agent and
      issuance and delivery by the Company, such Rights Certificates, nevertheless,
      may be 

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

       

       

      countersigned
        by the Rights Agent and issued and delivered by the Company with the same
        force
        and effect as though the person who signed such Rights Certificates had not
        ceased to be such officer of the Company; and any Rights Certificates may
        be
        signed on behalf of the Company by any person who, at the actual date of
        the
        execution of such Rights Certificate, shall be a proper officer of the Company
        to sign such Rights Certificate, although at the date of the execution of
        this
        Agreement any such person was not such an officer.

    

     

    (b)  Following
      the Distribution Date, upon receipt by the Rights Agent of written notice of
      the
      occurrence of the Distribution Date pursuant to Section 3(e) hereof, a
      stockholder list and all other relevant information referred to in Section
      3(e)
      or as reasonably requested by the Rights Agent, the Rights Agent shall keep,
      or
      cause to be kept, at its office or offices designated for such purposes, books
      for registration and transfer of the Rights Certificates issued
      hereunder.  Such books shall show the names and addresses of the
      respective holders of the Rights Certificates, the number of Rights evidenced
      on
      its face by each of the Rights Certificates and the date of each of the Rights
      Certificates.

     

    Section
      6                      Transfer,
      Split-Up, Combination and Exchange of Rights Certificates; Mutilated, Destroyed,
      Lost or Stolen Rights Certificates

     

    (a)  Subject
      to the provisions of Section 7(d) and Section 13 hereof, at any time after
      the
      Close of Business on the Distribution Date, and prior to the Expiration Date,
      any Rights Certificate(s)(other than Rights Certificates representing Rights
      that may have been exchanged pursuant to Section 23 hereof) representing
      exercisable Rights may be transferred, split up, combined or exchanged for
      another Rights Certificate(s), entitling the registered holder to purchase
      a
      like number of one one-thousandths of a share of Preferred Stock (or other
      securities, cash or other assets, as the case may be) as the Rights
      Certificate(s) surrendered then entitled such holder (or former holder in the
      case of a transfer) to purchase.  Any registered holder desiring to
      transfer, split up, combine or exchange any such Rights Certificate(s) must
      make
      such request in writing delivered to the Rights Agent, and must surrender the
      Rights Certificate(s) to be transferred, split up, combined or exchanged, with
      the forms of assignment and certificate contained therein duly executed, at
      the
      office or offices of the Rights Agent designated for such
      purpose.  The Rights Certificates are transferable only on the
      registry books of the Rights Agent.  Neither the Rights Agent nor the
      Company shall be obligated to take any action whatsoever with respect to the
      transfer of any such surrendered Rights Certificate until the registered holder
      shall have (i) completed and signed the certificate contained in the form
      of assignment on the reverse side of such Rights Certificate, (ii) provided
      such additional evidence of the identity of the Beneficial Owner (or former
      Beneficial Owner) or Affiliates or Associates thereof as the Company or the
      Rights Agent shall reasonably request and (iii) paid a sum sufficient to
      cover any tax or charge that may be imposed in connection with any transfer,
      split up, combination or exchange or Rights Certificates as required by Section
      9(d) hereof.  Thereupon the Rights Agent shall countersign and deliver
      to the Person entitled thereto a Rights Certificate or Rights Certificates,
      as
      the case may be, as so requested registered in such name or names as may be
      designated by the surrendering registered holder.  The Rights Agent
      shall promptly forward any such sum collected by it to the Company or to such
      Person or Persons as the Company shall specify by written notice.  The
      Rights Agent shall have no duty or obligation to take any action under any
      Section of this Agreement which requires the payment by a Rights holder of
      

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

       

      applicable
        taxes and/or charges unless and until it is satisfied that all such taxes
        and/or
        charges have been paid.

    

     

    (b)  Upon
      receipt by the Company and the Rights Agent of evidence satisfactory to them
      of
      the loss, theft, destruction or mutilation of a Rights Certificate, and, in
      case
      of loss, theft or destruction, of indemnity or security satisfactory to them,
      and reimbursement to the Company and the Rights Agent of all reasonable expenses
      incidental thereto, and upon surrender to the Rights Agent and cancellation
      of
      the Rights Certificate, if mutilated, the Company shall execute and deliver
      a
      new Rights Certificate of like tenor to the Rights Agent for countersignature
      and delivery to the registered owner in lieu of the Rights Certificate so lost,
      stolen, destroyed or mutilated.

     

    Section
      7                      Exercise
      of Rights; Purchase Price; Expiration Date of Rights

     

    (a)  Subject
      to Section 11(a)(ii) and Section 23 hereof, the registered holder of any Rights
      Certificate may exercise the Rights represented thereby (except as otherwise
      provided herein) in whole or in part at any time after the Distribution Date
      and
      prior to the Expiration Date, upon surrender of the Rights Certificate, with
      the
      form of election to purchase and the certificate set forth on the reverse side
      thereof properly completed and duly executed, to the Rights Agent at the office
      or offices of the Rights Agent designated for such purpose, together with
      payment in cash, in lawful money of the United States of America by certified
      check or bank draft payable to the order of the Company, equal to the sum of
      (i) the aggregate Purchase Price for the total number of one
      one-thousandths of a share of Preferred Stock (or for such shares of Class
      A
      Common Stock and/or Class B Common Stock or other securities, as the case may
      be) as to which such surrendered Rights are exercised and (ii) an amount
      equal to any applicable tax or charge required to be paid by the holder of
      such
      Rights Certificate in accordance with the provisions of Section 9(d)
      hereof.

     

    (b)  Upon
      receipt of a Rights Certificate representing exercisable Rights with the form
      of
      election to purchase and the certificate properly completed and duly executed,
      accompanied by payment of the Purchase Price for the shares to be purchased
      and
      an amount equal to any applicable tax or charge required to be paid under
      Section 9(d) hereof, the Rights Agent shall, subject to Section 19(k) hereof,
      thereupon promptly (i) (A) requisition from any transfer agent of the shares
      of
      Preferred Stock (or make available, if the Rights Agent is the transfer agent
      for such shares) certificates representing the total number of one
      one-thousandths of a share of Preferred Stock to be purchased (and the Company
      hereby irrevocably authorizes and directs its transfer agent to comply with
      all
      such requests), or (B), if the Company shall have elected to deposit any shares
      of Preferred Stock issuable upon exercise of the Rights hereunder with a
      depositary agent, requisition from the depositary agent depositary receipts
      representing such number of one one-thousandths of a share of Preferred Stock
      as
      are to be purchased (and the Company hereby irrevocably authorizes and directs
      such depositary agent to comply with all such requests), (ii) after receipt
      of such certificates (or depositary receipts, as the case may be) cause the
      same
      to be delivered to or upon the order of the registered holder of such Rights
      Certificate, registered in such name or names as may be designated by such
      holder, (iii) when appropriate, requisition from the Company or any transfer
      agent therefor of certificates representing the number of equivalent shares
      to
      be issued in lieu of the issuance of shares of Class A Common Stock or Class
      B
      Common Stock, as the case may be, in accordance with the provisions of Section
      

     

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

       

      11(a)(iii),
        (iv) when appropriate, after receipt of such certificates, cause the same
        to be
        delivered to or upon the order of the registered holder of such Rights
        Certificate, registered in such name or names as may be designated by such
        holder, (v) when appropriate, requisition from the Company of the amount of
        cash to be paid in lieu of the issuance of fractional shares in accordance
        with
        the provisions of Section 13 hereof, and (vi) when appropriate, after receipt,
        deliver such cash to the registered holder of such Rights
        Certificate.

    

     

    (c)  In
      case
      the registered holder of any Rights Certificate shall exercise fewer than all
      the Rights evidenced thereby, the Rights Agent shall prepare, execute and
      deliver a new Rights Certificate evidencing Rights equivalent to the Rights
      remaining unexercised to the registered holder of such Rights Certificate or
      to
      his duly authorized assigns, subject to the provisions of Section 13
      hereof.

     

    (d)  Notwithstanding
      anything in this Agreement to the contrary, neither the Rights Agent nor the
      Company shall be obligated to undertake any action with respect to any purported
      transfer, split up, combination or exchange of any Rights Certificate pursuant
      to Section 6 or exercise or assignment of a Rights Certificate as set forth
      in this Section 7 unless the registered holder of such Rights Certificate shall
      have (i) properly completed and duly signed the certificate following the
      form of assignment or the form of election to purchase, as applicable, set
      forth
      on the reverse side of the Rights Certificate surrendered for such transfer,
      split up, combination, exchange, exercise or assignment and (ii) provided
      such additional evidence of the identity of the Beneficial Owner (or former
      Beneficial Owner) thereof and of the Rights evidenced thereby and Affiliates
      and
      Associates thereof as the Company or the Rights Agent may reasonably
      request.

     

    Section
      8                      Cancellation
      and Destruction of Rights Certificates

     

    All
      Rights Certificates surrendered for the purpose of exercise, transfer, split-up,
      combination or exchange shall, if surrendered to the Company or any of its
      agents, be delivered to the Rights Agent for cancellation or in cancelled form,
      or, if surrendered to the Rights Agent, shall be cancelled by it, and no Rights
      Certificates shall be issued in lieu thereof except as expressly permitted
      by
      any of the provisions of this Agreement.  The Company shall deliver to
      the Rights Agent for cancellation and retirement, and the Rights Agent shall
      so
      cancel and retire, any other Rights Certificate purchased or acquired by the
      Company otherwise than upon the exercise thereof.  The Rights Agent
      shall deliver all cancelled Rights Certificates to the Company, or shall, at
      the
      written request of the Company, destroy such cancelled Rights Certificates,
      and
      in such case shall deliver a certificate of destruction thereof to the
      Company.

     

    Section
      9                      Company
      Covenants Concerning Securities and Rights

     

    (a)  The
      Company covenants and agrees that it shall cause to be reserved, authorized
      for
      issuance and kept available out of its authorized and unissued shares of
      Preferred Stock, Class A Common Stock, Class B Common Stock and/or other
      securities, or any shares of any such security of the Company held in its
      treasury, a number of shares of Preferred Stock (or any other security of the
      Company as may be applicable at the time of exercise) that shall be sufficient
      to permit the exercise in full of all outstanding Rights in accordance with
      Section 7.

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

     

    (b)  So
      long
      as the shares of Preferred Stock (and, following the occurrence of a Flip-in
      Event, shares of Class A Common Stock and/or other securities) issuable upon
      the
      exercise of the Rights may be listed on any national securities exchange, or
      quoted on the Nasdaq Small Cap Market, it shall endeavor to cause, from and
      after such time as the Rights become exercisable, all securities reserved for
      issuance upon the exercise of Rights to be listed on such exchange, or quoted
      on
      the Nasdaq Small Cap Market, upon official notice of issuance upon such
      exercise.

     

    (c)  The
      Company shall take all such actions as may be necessary to ensure that all
      shares of Preferred Stock (and, following the occurrence of a Flip-in Event
      shares of Class A Common Stock and/or Class B Common Stock and/or other
      securities) delivered upon exercise of Rights, at the time of delivery of the
      certificates for such securities, shall be (subject to payment of the Purchase
      Price) duly authorized, validly issued, fully paid and nonassessable
      securities.

     

    (d)  The
      Company shall pay when due and payable any and all taxes and charges that may
      be
      payable in respect of the issuance or delivery of the Rights Certificates and
      of
      any certificates representing securities issued upon the exercise of Rights;
      provided, however, that the Company shall not be required to pay
      any tax or charge which may be payable in respect of any transfer or delivery
      of
      Rights Certificates to a person other than, or the issuance or delivery of
      certificates or depositary receipts representing securities issued upon the
      exercise of Rights in a name other than that of, the registered holder of the
      Rights Certificate evidencing Rights surrendered for exercise, or to issue
      or
      deliver any certificates or depositary receipts representing securities issued
      upon the exercise of any Rights until any such tax or charge has been paid
      (any
      such tax or charge being payable by the holder of such Rights Certificate at
      the
      time of surrender) or until it has been established to the Company's reasonable
      satisfaction that no such tax or charge is due.

     

    (e)  If
      the
      Company determines that registration under the Securities Act is required,
      then
      the Company shall use its commercially reasonable efforts (i) to file, as
      soon as practicable after the Distribution Date, on an appropriate form, a
      registration statement under the Securities Act with respect to the securities
      issuable upon exercise of the Rights, (ii) to cause such registration
      statement to become effective as soon as practicable after such filing and
      (iii) to cause such registration statement to remain effective (with a
      prospectus at all times meeting the requirements of the Securities Act) until
      the earlier of (A) the date as of which the Rights are no longer
      exercisable for such securities and (B) the Expiration Date.  The
      Company shall also take such action as may be appropriate under, or to ensure
      compliance with, the securities or "blue sky" laws of the various states in
      connection with the exercisability of the Rights.  The Company may
      temporarily suspend the exercisability of the Rights in order to prepare and
      file such registration statement and to permit it to become effective or to
      qualify the rights, the exercise thereof or the issuance of shares of Preferred
      Stock, Class A Common Stock, Class B Common Stock, or other securities upon
      the
      exercise thereof under state securities or "blue sky" laws.  Upon any
      such suspension, the Company shall issue a public announcement stating that
      the
      exercisability of the Rights has been temporarily suspended, as well as a public
      announcement at such time as the suspension is no longer in
      effect.  The Company shall, as promptly as practicable, notify the
      Rights Agent in writing whenever it makes a public announcement pursuant to
      this
      Section 9(e) and give the Rights Agent a copy of such
      announcement.  In addition, if the Company determines that a
      registration statement or other document should be 

     

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

       

       

      filed
        under the Securities Act or any state securities laws following the Distribution
        Date, the Company may temporarily suspend the exercisability of the Rights
        in
        each relevant jurisdiction until such time as a registration statement has
        been
        declared effective or any such other document filed and, if required, approved,
        and, upon any such suspension, the Company shall issue a public announcement
        stating that the exercisability of the rights has been temporarily suspended,
        as
        well as a public announcement at such time as the suspension is no longer
        in
        effect.  Notwithstanding anything in this Agreement to the contrary,
        the Rights shall not be exercisable in any jurisdiction if the requisite
        registration or qualification in such jurisdiction has not been effected
        or the
        exercise of the Rights is not permitted under applicable law.

    

     

    (f)  Notwithstanding
      anything in this Agreement to the contrary, after the Distribution Date, the
      Company shall not take (or permit any Subsidiary to take) any action if at
      the
      time such action is taken it is reasonably foreseeable that such action shall
      eliminate or otherwise diminish the benefits intended to be afforded by the
      Rights.

     

    (g)  In
      the
      event that the Company is obligated to issue other securities of the Company
      and/or pay cash pursuant to Sections 7, 11, 13 or 23 it shall make all
      arrangements necessary so that such other securities and/or cash are available
      for distribution by the Rights Agent, if and when necessary to comply with
      this
      Agreement.

     

    Section
      10                                Record
      Date

     

    Each
      person in whose name any certificate for a number of one one-thousandths of
      a
      share of Preferred Stock (or Class A Common Stock, and/or Class B Common Stock
      and/or other securities, as the case may be) is issued upon the exercise of
      Rights shall for all purposes be deemed to have become the holder of record
      of
      such shares of Preferred Stock (or Class A Common Stock, and/or Class B Common
      Stock and/or other securities, as the case may be) represented thereby on,
      and
      such certificate shall be dated, the date upon which the Rights Certificate
      representing such Rights was duly surrendered and payment of the Purchase Price
      (and all applicable taxes and charges) was made; provided,
however, that if the date of such surrender and payment is a date
      upon
      which the transfer books of the Company for shares of Preferred Stock (or Class
      A Common Stock and/or Class B Common Stock and/or other securities, as the
      case
      may be) are closed, such Person shall be deemed to have become the record holder
      of such securities on, and such certificate shall be dated, the next succeeding
      Business Day on which the transfer books of the Company are
      open.  Prior to the exercise of the Rights evidenced thereby, the
      holder of a Rights Certificate shall not be entitled to any rights of a
      stockholder of the Company with respect to shares for which the Rights shall
      be
      exercisable, including, without limitation, the right to vote, to receive
      dividends or other distributions or to exercise any preemptive rights, and
      shall
      not be entitled to receive any notice of any proceedings of the Company, except
      as provided herein.

     

    Section
      11                                Adjustment
      of Purchase Price, Number and Kind of Securities 

                             
      or Number of Rights

     

    The
      Purchase Price, the number and kind of shares, or fractions thereof, covered
      by
      each Right and the number of Rights outstanding are subject to adjustment from
      time to time as provided in this Section 11.

     

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

     

    (a)  (i)           In
      the event that the Company at any time after the Record Date (A) declares a
      dividend on the shares of Preferred Stock payable in shares of Preferred Stock,
      (B) subdivides the outstanding shares of Preferred Stock, (C) combines the
      outstanding shares of Preferred Stock into a smaller number of shares of
      Preferred Stock, or (D) issues any shares of its capital stock in a
      reclassification of the shares of Preferred Stock (including any such
      reclassification in connection with a consolidation or merger in which the
      Company is the continuing or surviving corporation), except as otherwise
      provided in this Section 11(a), the Purchase Price in effect at the time of
      the
      record date for such dividend or of the effective date of such subdivision,
      combination or reclassification, and/or the number and/or kind of shares of
      capital stock issuable on such date upon exercise of a Right, shall be
      proportionately adjusted so that the holder of any Right exercised after such
      time shall be entitled to receive, upon payment of the Purchase Price then
      in
      effect the aggregate number and kind of shares of capital stock which, if such
      Right had been exercised immediately prior to such date and at a time when
      the
      transfer books of the Company for the shares of Preferred Stock were open,
      the
      holder of such Right would have owned upon such exercise (and, in the case
      of a
      reclassification, would have retained after giving effect to such
      reclassification) and would have been entitled to receive by virtue of such
      dividend, subdivision, combination or reclassification; provided,
however, that in no event shall the consideration to be paid upon
      the
      exercise of one Right be less than the aggregate par value of the shares of
      capital stock issuable upon exercise of one Right.  If an event occurs
      which would require an adjustment under both this Section 11(a)(i) and Section
      11(a)(ii) hereof, the adjustment provided for in this Section 11(a)(i) shall
      be
      in addition to, and shall be made prior to, any adjustment required pursuant
      to
      Section 11(a)(ii) hereof.

     

    (ii)  Subject
      to the provisions of Section 23 hereof, if any Person becomes an Acquiring
      Person (a "Flip-in Event"), then, after the Distribution Date, each
      holder of a Right, except as provided below, shall have the right to receive,
      upon exercise thereof at the then current Purchase Price as adjusted by this
      Section 11(a)(ii),  such number of shares of Class A Common Stock or
      Class B Common Stock, as the case may be, as equals five (5) times the number
      of
      one one-thousandths of a share of Preferred Stock for which a Right was
      exercisable immediately prior to the Flip-in Event. After the occurrence of
      a
      Flip-In Event, Rights will no longer be exercisable for the purchase of
      Preferred Stock.  The Purchase Price shall be so adjusted such that
      the price per share of Class A Common Stock or Class B Common Stock into which
      the Rights are exercisable immediately after a Flip-in Event has occurred shall
      be the lesser of (x) 50% of the Current Per Share Market Price of the Company's
      Class A Common Stock (determined pursuant to Section 11(d) hereof) on the date
      of such Flip-in Event or (y) 50% of the average of the daily closing price
      per
      share of a share of Class A Common Stock for the ten (10) consecutive Trading
      Days immediately following the Stock Acquisition Date.  

     

    Notwithstanding
      anything in this
      Agreement to the contrary, from and after the time any Flip-in Event has
      occurred, any Rights that are Beneficially Owned by (A) any Acquiring Person
      (or
      any Affiliate or Associate of any Acquiring Person), (B) a transferee of any
      Acquiring Person (or any such Affiliate or Associate) who becomes a transferee
      after an Acquiring Person becomes such, or (C) a transferee of any Acquiring
      Person (or any such Affiliate or Associate) who became a transferee prior to
      or
      concurrently with an Acquiring Person becomes such, and receives such Rights
      pursuant to either (1) a transfer from an Acquiring Person to holders of its
      equity securities or to any Person with whom it has any continuing agreement,
      arrangement or understanding regarding the transferred Rights or (2) a

     

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    transfer
      which the Board has determined is part of a plan, arrangement or understanding
      which has the purpose or effect of avoiding the provisions of this Section
      11(a)(ii), and subsequent transferees of any of such Persons, shall be void
      without any further action and any holder of such Rights shall thereafter have
      no rights whatsoever with respect to such Rights under any provision of this
      Agreement.  The Company shall give the Rights Agent written notice of
      the identity of any Acquiring Person or any Affiliates or Associates thereof,
      or
      any transferee of any of the foregoing, and the Rights Agent may rely on such
      notice in carrying out its duties under this Agreement and shall be deemed
      not
      to have any knowledge of the identity of any such Acquiring Person or any
      Affiliates or Associates thereof, or any transferee of any of the foregoing,
      unless and until it shall have received such notice.  The Company
      shall as promptly as practicable use all reasonable efforts to ensure that
      the
      provisions of this Section 11(a)(ii) are complied with, but neither the Company
      nor the Rights Agent shall have any  liability to any holder of Rights
      Certificates or any other Person as a result of its failure to make any
      determinations with respect to an Acquiring Person or any Affiliates and
      Associates thereof or any transferee of any of them hereunder.

     

    (iii)  If
      upon
      the occurrence of a Flip-in Event, there are not sufficient shares of Class
      A
      Common Stock and/or Class B Common Stock, as the case may be, authorized but
      unissued or issued but not outstanding to permit the issuance of all the shares
      of Class A Common Stock and/or Class B Common Stock, as the case may be,
      issuable in accordance with Section 11(a)(ii) hereof upon the exercise in full
      of the Rights, the Company shall authorize and, subject to the provisions of
      Section 9(e), make available for issuance other equity securities of the Company
      having equivalent voting rights and an equivalent value (as determined in good
      faith by the Board) to the shares of Class A Common Stock and/or Class B Common
      Stock, as the case may be, (for purposes of this Section 11(a)(iii) these other
      equity securities shall hereinafter be referred to as "Equivalent Common
      Stock").  In the event that shares of Equivalent Common Stock are
      so authorized, upon the exercise of a Right in accordance with the provisions
      of
      Section 7 hereof, the registered holder shall be entitled to receive (A) shares
      of Class A Common Stock and/or Class B Common Stock, as the case may be, to
      the
      extent any are available, and (B) a number of shares of Equivalent Common Stock,
      which the Board has determined in good faith to have a value equivalent to
      the
      excess of (w) the aggregate current per share market value on the date of the
      Flip-in Event, of all the shares of Class A Common Stock and Class B Common
      Stock issuable in accordance with Section 11(a)(ii) upon the exercise of a
      Right
      (the "Exercise Value") over (x) the aggregate current per share market
      value on the date of the Flip-in Event, of any shares of Class A Common Stock
      and/or Class B Common Stock available for issuance upon the exercise of such
      Right; provided, however, that if at any time after 90 calendar
      days after the Distribution Date, there are not sufficient shares of Class
      A
      Common Stock, Class B Common Stock and/or Equivalent Common Stock available
      for
      issuance upon the exercise of a Right, then the Company shall be obligated
      to
      deliver, upon the surrender of such Right, shares of Class A Common Stock and
      Class B Common Stock (to the extent available), Equivalent Common Stock (to
      the
      extent available) and then cash (to the extent permitted by applicable law
      and
      any agreements or instruments to which the Company is a party in effect
      immediately prior to the Stock Acquisition Date), which securities and cash
      have
      an aggregate value equal to the excess of (y) the Exercise Value over (z) the
      product of the then-current Purchase Price multiplied by the number of one
      one-thousandths of a share of a Preferred Stock for which a Right was
      exercisable immediately prior to the Flip-in Event.  To the extent
      that any legal or contractual restrictions prevent the Company from paying
      the
      full amount of 

     

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

       

       

      cash
        payable in accordance with the foregoing sentence, the Company shall pay
        to
        holders of the Rights as to which such payments are being made all amounts
        which
        are not then restricted on a pro rata basis and shall continue to make payments
        on a pro rata basis as promptly as funds become available until the full
        amount
        due to each such Rights holder has been paid.

    

     

    (b)  If
      the
      Company shall fix a record date for the issuance of rights, options or warrants
      to all holders of shares of Preferred Stock entitling them to subscribe for
      or
      purchase shares of Preferred Stock (or securities having equivalent rights,
      privileges and preferences as the shares of Preferred Stock (for purposes of
      this Section 11(b), "Equivalent Preferred Stock")) or securities
      convertible into shares of Preferred Stock or Equivalent Preferred Stock at
      a
      price per share of Preferred Stock or Equivalent Preferred Stock (or having
      a
      conversion price per share, if a security convertible into shares of Preferred
      Stock or Equivalent Preferred Stock) less than the Current Per Share Market
      Price of the shares of Preferred Stock (determined pursuant to Section 11(d))
      on
      such record date, the Purchase Price to be in effect after such record date
      shall be determined by multiplying the Purchase Price in effect immediately
      prior to such record date by a fraction, the numerator of which is the number
      of
      shares of Preferred Stock outstanding on such record date plus the number of
      shares of Preferred Stock which the aggregate offering price of the total number
      of shares of Preferred Stock and/or Equivalent Preferred Stock so to be offered
      (and/or the aggregate initial conversion price of the convertible securities
      so
      to be offered) would purchase at such Current Per Share Market Price and the
      denominator of which is the number of shares of Preferred Stock outstanding
      on
      such record date plus the number of additional shares of Preferred Stock and/or
      Equivalent Preferred Shares to be offered for subscription or purchase (or
      into
      which the convertible securities so to be offered are initially convertible);
      provided, however, that in no event shall the consideration to be
      paid upon the exercise of one Right be less than the aggregate par value of
      the
      shares of capital stock issuable upon exercise of one Right.  In case
      such subscription price may be paid in a consideration part or all of which
      is
      in a form other than cash, the value of such consideration shall be as
      determined in good faith by the Board, whose determination shall be described
      in
      a written statement filed with the Rights Agent.  Shares of Preferred
      Stock owned by or held for the account of the Company shall not be deemed
      outstanding for the purpose of any such computation.  Such adjustment
      shall be made successively whenever such a record date is fixed, and in the
      event that such rights, options or warrants are not so issued, the Purchase
      Price shall be adjusted to be the Purchase Price which would then be in effect
      if such record date had not been fixed.

     

    (c)  If
      the
      Company shall fix a record date for the making of a distribution to all holders
      of shares of Preferred Stock (including any such distribution in connection
      with
      a consolidation or merger in which the Company is the continuing or surviving
      corporation) of evidences of indebtedness, cash (other than a regular periodic
      cash dividend), assets, stock (other than a dividend payable in shares of
      Preferred Stock) or subscription rights, options or warrants (excluding those
      referred to in Section 11(b)), the Purchase Price to be in effect after such
      record date shall be determined by multiplying the Purchase Price in effect
      immediately prior to such record date by a fraction, the numerator of which
      is
      the Current Per Share Market Price of the shares of Preferred Stock (as
      determined pursuant to Section 11(d)) on such record date or, if earlier, the
      date on which shares of Preferred Stock begin to trade on an ex-dividend or
      when
      issued basis for such distribution, less the fair market value (as determined
      in
      good faith by the Board, whose determination shall be described in a written
      statement filed with the Rights 

     

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

       

       

      Agent)
        of
        the portion of the evidences of indebtedness, cash, assets or stock so to
        be
        distributed or of such subscription rights, options or warrants applicable
        to
        one share of Preferred Stock, and the denominator of which is such Current
        Per
        Share Market Price of the shares of Preferred Stock; provided,
however, that in no event shall the consideration to be paid upon
        the
        exercise of one Right but less than the aggregate par value of the shares
        of
        capital stock issuable upon exercise of one Right.  Such adjustments
        shall be made successively whenever such a record date is fixed; and in the
        event that such distribution is not so made, the Purchase Price shall again
        be
        adjusted to be the Purchase Price which would then be in effect if such record
        date had not been fixed.

    

     

    (d)  (i)           For
      the purpose of any computation hereunder, the "Current Per Share Market
      Price" of any security (a "Security" for purposes of this Section 11(d)(i)
      only) on any date shall be deemed to be the average of the daily closing prices
      per share of a share of the Class A Common Stock for the 30 consecutive Trading
      Days immediately prior to, but not including, such date; provided,
however, that in the event that the Current Per Share Market Price
      of the
      Security is determined during a period following the announcement by the issuer
      of such Security of (A) a dividend or distribution on such Security payable
      in
      shares of such Security or securities convertible into such shares, or (B)
      any
      subdivision, combination or reclassification of such Security, and prior to
      the
      expiration of 30 Trading Days after, but not including, the ex-dividend date
      for
      such dividend or distribution, or the record date for such subdivision,
      combination or reclassification, then, and in each such case, the Current Per
      Share Market Price shall be appropriately adjusted to take into account
      ex-dividend trading or to reflect the current per share market price per share
      equivalent of such Security.  The closing price for each day shall be
      the last sale price, regular way, or, in case no such sale takes place on such
      day, the average of the closing bid and asked prices, regular way, in either
      case as reported in the principal consolidated transaction reporting system
      with
      respect to securities listed or admitted to trading on the Nasdaq Global Market
      or, if the Security is not listed or admitted to trading on the Nasdaq Global
      Market, as reported in the principal consolidated transaction reporting system
      with respect to securities listed on the principal national securities exchange
      on which the Security is listed or admitted to trading or, if the Security
      is
      not listed or admitted to trading on any national securities exchange, the
      last
      quoted price or, if not so quoted, the average of the high bid and low asked
      prices in the over-the-counter market, as reported by Nasdaq Stock Market Inc.
      or such other system then in use, or, if on any such date Security is not quoted
      by any such organization, the average of the closing bid and asked prices as
      furnished by a professional market maker making a market in the Security
      selected by the Board.  If the Security is not publicly held or not so
      listed or traded, or is not the subject of available bid and asked quotes,
      the
      Current Per Share Market Price of such Security shall mean the fair value per
      share as determined in good faith by the Board, whose determination shall be
      described in a statement filed with the Rights Agent.

     

    (ii)  For
      the
      purpose of any computation hereunder, the "Current Per Share Market
      Price" of shares of the Preferred Stock shall be determined in accordance
      with the method set forth in Section 11(d)(i).  If the Current Per
      Share Market Price of Preferred Stock cannot be determined in the manner
      provided above, it shall be conclusively deemed to be an amount equal to the
      current per share market price of the shares of Class A Common Stock multiplied
      by one thousand (as such number may be appropriately adjusted to reflect events
      such as stock splits, stock dividends, recapitalizations or similar transactions
      relating to the shares of Class A Common Stock occurring after the date of
      this
      Agreement).  If neither the Class A 

     

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

       

       

      Common
        Stock, Class B Common Stock nor the Preferred Stock are publicly held or
        so
        listed or traded, or the subject of available bid and asked quotes, "Current
        Per
        Share Market Price" of the Preferred Stock shall mean the fair value per
        share
        as determined in good faith by the Board, whose determination shall be described
        in a statement filed with the Rights Agent.

    

     

    (e)  Except
      as
      set forth below, no adjustment in the Purchase Price shall be required unless
      such adjustment would require an increase or decrease of at least 1% in such
      price; provided, however, that any adjustments which by reason of
      this Section 11(e) are not required to be made shall be carried forward and
      taken into account in any subsequent adjustment.  All calculations
      under this Section 11 shall be made to the nearest cent or to the nearest one
      one-millionth of a share of Preferred Stock or one ten-thousandth of a share
      of
      a Class A Common Stock or Class B Common Stock or other security, as the case
      may be.  Notwithstanding the first sentence of this Section 11(e), any
      adjustment required by this Section 11 shall be made no later than the earlier
      of (i) three years from the date of the transaction which requires such
      adjustment and (ii) the Expiration Date.

     

    (f)  If
      as a
      result of an adjustment made pursuant to Section 11(a), the holder of any Right
      thereafter exercised becomes entitled to receive any securities of the Company
      other than shares of Preferred Stock, thereafter the number and/or kind of
      such
      other securities so receivable upon exercise of any Right (and/or the Purchase
      Price in respect thereof) shall be subject to adjustment from time to time
      in a
      manner and on terms as nearly equivalent as practicable to the provisions with
      respect to the shares of Preferred Stock (and the Purchase Price in respect
      thereof) contained in this Section 11, and the provisions of Sections 7, 9,
      10
      and 13 with respect to the shares of Preferred Stock (and the Purchase Price
      in
      respect thereof) shall apply on like terms to any such other securities (and the
      Purchase Price in respect thereof).

     

    (g)  All
      Rights originally issued by the Company subsequent to any adjustment made to
      the
      Purchase Price hereunder shall evidence the right to purchase, at the adjusted
      Purchase Price, the number of one one-thousandths of a share of Preferred Stock
      issuable from time to time hereunder upon exercise of the Rights, all subject
      to
      further adjustment as provided herein.

     

    (h)  Unless
      the Company has exercised its election as provided in Section 11(i), upon each
      adjustment of the Purchase Price pursuant to Section 11(b) or Section 11(c),
      each Right outstanding immediately prior to the making of such adjustment shall
      evidence the right to purchase, at the adjusted Purchase Price, that number
      of
      one one-thousandths of a share of Preferred Stock (calculated to the nearest
      one
      one-millionth of a share of Preferred Stock) obtained by (i) multiplying (x)
      the
      number of one one-thousandths of a share of Preferred Stock issuable upon
      exercise of a Right immediately prior to such adjustment of the Purchase Price
      by (y) the Purchase Price in effect immediately prior to such adjustment of
      the
      Purchase Price and (ii) dividing the product so obtained by the Purchase Price
      in effect immediately after such adjustment of the Purchase Price.

     

    (i)  The
      Company may elect, on or after the date of any adjustment of the Purchase Price,
      to adjust the number of Rights in substitution for any adjustment in the number
      of one one-thousandths of a share of Preferred Stock issuable upon the exercise
      of a Right.  Each of the Rights outstanding after such adjustment of
      the number of Rights shall be exercisable for the number of one one-thousandths
      of a share of Preferred Stock for which a Right was exercisable 

     

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

       

       

      immediately
        prior to such adjustment.  Each Right held of record prior to such
        adjustment of the number of Rights shall become that number of Rights
        (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase
        Price in effect immediately prior to adjustment of the Purchase Price by
        the
        Purchase Price in effect immediately after adjustment of the Purchase
        Price.  The Company shall make a public announcement of its election
        to adjust the number of Rights, indicating the record date for the adjustment,
        and, if known at the time, the amount of the adjustment to be
        made.  The Company shall also, as promptly as practicable, notify the
        Rights Agent in writing of same pursuant to Section 9(e) hereof and give
        the
        Rights Agent a copy of such announcement.  Such record date may be the
        date on which the Purchase Price is adjusted or any day thereafter, but if
        the
        Rights Certificates have been issued, such record date shall be at least
        10
        calendar days later than the date of the public announcement.  If
        Rights Certificates have been issued, upon each adjustment of the number
        of
        Rights pursuant to this Section 11(i), the Company shall, as promptly as
        practicable, cause to be distributed to holders of record of Rights Certificates
        on such record date Rights Certificates evidencing, subject to the provision
        of
        Section 14, the additional Rights to which such holders are entitled as a
        result
        of such adjustment, or, at the option of the Company, shall cause to be
        distributed to such holders of record in substitution and replacement for
        the
        Rights Certificates held by such holders prior to the date of adjustment,
        and
        upon surrender thereof if required by the Company, new Rights Certificates
        evidencing all the Rights to which such holders are entitled after such
        adjustment.  Rights Certificates so to be distributed shall be issued,
        executed, and countersigned in the manner provided for herein (and may bear,
        at
        the option of the Company, the adjusted Purchase Price) and shall be registered
        in the names of the holders of record of Rights Certificates on the record
        date
        specified in the public announcement.

    

     

    (j)  Without
      respect to any adjustment or change in the Purchase Price and/or the number
      and/or kind of securities issuable upon the exercise of the Rights, the Rights
      Certificates theretofore and thereafter issued may continue to express the
      Purchase Price and the number and kind of securities which were expressed in
      the
      initial Rights Certificate issued hereunder.

     

    (k)  Before
      taking any action that would cause an adjustment reducing the Purchase Price
      below one one-thousandth of the then par value, if any, of the shares of
      Preferred Stock or below the then par value, if any, of any other securities
      of
      the Company issuable upon exercise of the Rights, the Company shall take any
      corporate action which may, in the opinion of its counsel, be necessary in
      order
      that the Company may validly and legally issue fully paid and nonassessable
      shares of Preferred Stock or such other securities, as the case may be, at
      such
      adjusted Purchase Price.

     

    (l)  In
      any
      case in which this Section 11 otherwise requires that an adjustment in the
      Purchase Price be made effective as of a record date for a specified event,
      the
      Company may elect (with written notice of such election to the Rights Agent
      as
      promptly as practicable) to defer until the occurrence of such event the
      issuance to the holder of any Right exercised after such record date the number
      of one one-thousandths of a share of Preferred Stock or other securities of
      the
      Company, if any, issuable upon such exercise over and above the number of one
      one-thousandths of a share of Preferred Stock or other securities of the
      Company, if any, issuable upon such exercise on the basis of the Purchase Price
      in effect prior to such adjustment; provided, however, that the
      Company delivers to such holder a due bill or other appropriate 

     

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

       

       

      instrument
        evidencing such holder's right to receive such additional shares of Preferred
        Stock or other securities upon the occurrence of the event requiring such
        adjustment.

    

     

    (m)  Notwithstanding
      anything in this Agreement to the contrary, the Company shall be entitled to
      make such reductions in the Purchase Price, in addition to those adjustments
      expressly required by this Section 11, as and to the extent that in its good
      faith judgment the Board determines to be advisable in order that any (i)
      consolidation or subdivision of the shares of Preferred Stock, (ii) issuance
      wholly for cash of shares of Preferred Stock at less than the Current Per Share
      Market Price therefor, (iii) issuance wholly for cash of shares of Preferred
      Stock or securities which by their terms are convertible into or exchangeable
      for shares of Preferred Stock, (iv) stock dividends or (v) issuance of rights,
      options or warrants referred to in this Section 11, hereafter made by the
      Company to holders of its shares of Preferred Stock is not taxable to such
      stockholders.

     

    (n)  Notwithstanding
      anything in this Agreement to the contrary, in the event that the Company at
      any
      time after the Record Date prior to the Distribution Date (i) pays a dividend
      on
      the outstanding shares of Class A Common Stock and Class B Common Stock
      payable in shares of Class A Common Stock and Class B Common Stock,
      respectively, (ii) subdivides the outstanding shares of Class A Common
      Stock and Class B Common Stock, (iii) combines the outstanding shares of
      Class A Common Stock and Class B Common Stock into a smaller number of
      shares or (iv) issues any shares of its capital stock in a reclassification
      of
      the outstanding shares of Class A Common Stock and Class B Common Stock
      (including any such reclassification in connection with a consolidation or
      merger in which the Company is the continuing or surviving corporation), the
      number of Rights associated with each share of Class A Common Stock and
      each share of Class B Common Stock then outstanding, or issued or delivered
      thereafter but prior to the Distribution Date, shall be proportionately adjusted
      so that the number of Rights thereafter associated with each share of
      Class A Common Stock and each share of Class B Common Stock following any
      such event equals the result obtained by multiplying the number of Rights
      associated with each share of Class A Common Stock or Class B Common Stock,
      as applicable, immediately prior to such event by a fraction the numerator
      of
      which is the total number of shares of Class A Common Stock or Class B
      Common Stock, as applicable, outstanding immediately prior to the occurrence
      of
      the event and the denominator of which is the total number of shares of
      Class A Common Stock or Class B Common Stock, as the case may be,
      outstanding immediately following the occurrence of such event.  The
      adjustments provided for in this Section 11(n) shall be made successively
      whenever such a dividend is paid or such a subdivision, combination or
      reclassification is effected.

     

    Section
      12                                Certificate
      of Adjusted Purchase Price or Number of Shares

     

    Whenever
      an adjustment is made or any event affecting the Rights or their exercisability
      (including without limitation an event which causes Rights to become null and
      void) occurs as provided in Section 11, the Company shall promptly (a) prepare
      a
      certificate setting forth such adjustment and a brief statement of the facts
      and
      calculations accounting for such adjustment or describing such event, (b) file
      with the Rights Agent, and with each transfer agent for the shares of Preferred
      Stock and the shares of Class A Common Stock and Class B Common Stock, a copy
      of
      such certificate, and (c) mail a brief summary thereof to each holder of a
      Rights Certificate.  The Rights Agent shall be fully protected in
      relying on any such certificate and on any 

     

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

       

       

      adjustment
        or statement contained therein and shall have no duty or liability with respect
        to and shall not be deemed to have knowledge of such adjustment or event
        unless
        and until it shall have received such certificate, provided,
however, that the Rights Agent will not be entitled to such protection
        in
        cases of bad faith or willful misconduct.

    

     

    Section
      13                                Fractional
      Rights and Fractional Shares

     

    (a)  The
      Company shall not be required to issue fractions of Rights or to distribute
      Rights Certificates which evidence fractional Rights.  In lieu of such
      fractional Rights, the Company shall pay to the registered holders of the Rights
      Certificates with regard to which such fractional Rights would otherwise be
      issuable, an amount in cash equal to the same fraction of the current market
      value of one Right.  For purposes of this Section 13(a), the current
      market value of one Right shall be the closing price of the Rights for the
      Trading Day immediately prior to the date on which such fractional Rights would
      have been otherwise issuable.  The closing price for any Trading Day
      shall be the last sale price, regular way, or, in case no such sale takes place
      on such day, the average of the closing bid and asked prices, regular way,
      in
      either case as reported in the principal consolidated transaction reporting
      system with respect to securities listed or admitted to trading on the Nasdaq
      Global Market, or if the Rights are not listed or admitted to trading on any
      national securities exchange, the last quoted price or, if not so quoted, the
      average of the high bid and low asked prices in the over-the-counter market,
      as
      reported by the Nasdaq Stock Market Inc. or such other system then in use or,
      if
      on any such date the Rights are not quoted by any such organization, the average
      of the closing bid and asked prices as furnished by a professional market maker
      making a market in the Rights, selected by the Board.  If the Rights
      are not publicly held or are not so listed or traded, or are not the subject
      of
      available bid and asked quotes, the current market value of one Right shall
      mean
      the fair value thereof as determined in good faith by the Board, whose
      determination shall be described in a statement filed with the Rights
      Agent.

     

    (b)  The
      Company shall not be required to issue fractions of shares of Preferred Stock
      (other than fractions which are integral multiples of one one-thousandth of
      a
      share of Preferred Stock) upon exercise of the Rights or to distribute
      certificates which evidence fractional shares of Preferred Stock (other than
      fractions which are integral multiples of one one-thousandth of a share of
      Preferred Stock).  In lieu of fractional shares of Preferred Stock
      that are not integral multiples of one one-thousandth of a share of Preferred
      Stock, the Company may pay to the registered holders of Rights Certificates
      at
      the time such Rights are exercised as herein provided an amount in cash equal
      to
      the same fraction of the current market value of one one-thousandth of a share
      of Preferred Stock.  For purposes of this Section 13(b), the current
      market value of one one-thousandth of a share of Preferred Stock shall be one
      one-thousandth of the closing price of a share of Preferred Stock (as determined
      pursuant to Section 11(d)(ii) hereof) for the Trading Day immediately prior
      to
      the date of such exercise; provided, however, that if the closing
      price of the shares of the Preferred Stock cannot be so determined, the closing
      price of the shares of the Preferred Stock for such Trading Day shall be
      conclusively deemed to be an amount equal to the closing price of the shares
      of
      Class A Common Stock shares for such Trading Day multiplied by one thousand
      (as
      such number may be appropriately adjusted to reflect events such as stock
      splits, stock dividends, recapitalizations or similar transactions relating
      to
      the Class A Common Stock shares occurring after the date of this
      Agreement).

     

     

    
      
        
        

      

      
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    (c)  Following
      the occurrence of a Flip-in Event, the Company shall not be required to issue
      fractions of shares of Class A Common Stock or Class B Common Stock, as the
      case
      may be, upon exercise of the Rights or to distribute certificates which evidence
      fractional shares of Class A Common Stock or Class B Common Stock, as the case
      may be.  In lieu of issuing any such fractional securities, the
      Company may pay to any Person to whom or which such fractional securities would
      otherwise be issuable an amount in cash equal to the same fraction of the
      current market value of one such security.  For purposes of this
      Section 13(c), the current market value of one share of Class A Common Stock,
      or
      other security issuable upon the exercise or exchange of Rights shall be the
      closing price thereof (as determined pursuant to Section 11(d)(i) hereof) on
      the
      Trading Day immediately prior to the date of such exercise or
      exchange.

     

    (d)  The
      holder of a Right by the acceptance of the Rights expressly waives his right
      to
      receive any fractional Rights or any fractional shares upon exercise of a Right,
      except as permitted by this Section 13.

     

    (e)  Whenever
      a payment for fractional Rights or fractional shares is to be made by the Rights
      Agent upon exercise of a Right, the Company shall (i) as promptly as practicable
      prepare and deliver to the Rights Agent a certificate setting forth in
      reasonable detail the facts related to such payments and the prices and/or
      formulas utilized in calculating such payments, and (ii) provide immediately
      available funds to the Rights Agent sufficient to make such
      payments.  The Rights Agent shall be fully protected in relying upon
      such a certificate and shall have no duty with respect to, and shall not be
      deemed to have knowledge of any payment for fractional Rights or fractional
      shares under any Section of this Agreement relating to the payment of fractional
      Rights or fractional shares unless and until the Rights Agent shall have
      received such a certificate and funds, provided, however, that the
      Rights Agent will not be entitled to such protection in cases of bad faith
      or
      willful misconduct.

     

    Section
      14                                Rights
      of Action

     

    (a)           All
      rights of action in respect of this Agreement, excepting the rights of action
      given to the Rights Agent hereunder, are vested in the respective registered
      holders of the Rights Certificates (and, prior to the Distribution Date, the
      registered holders of shares of Class A Common Stock and Class B Common Stock);
      and any registered holder of any Rights Certificate (or, prior to the
      Distribution Date, of the shares of Class A Common Stock and Class B Common
      Stock), without the consent of the Rights Agent or of the holder of any other
      Rights Certificate (or, prior to the Distribution Date, of the shares of Class
      A
      Common Stock or Class B Common Stock), may, in his own behalf and for his own
      benefit, enforce, and may institute and maintain any suit, action or proceeding
      against the Company to enforce, or otherwise act in respect of, his right to
      exercise the Rights evidenced by such Rights Certificate in the manner provided
      in such Rights Certificate and in this Agreement.  Without limiting
      the foregoing or any remedies available to the holders of Rights, it is
      specifically acknowledged that the holders of Rights would not have an adequate
      remedy at law for any breach of this Agreement and shall be entitled to specific
      performance of the obligations hereunder and injunctive relief against actual
      or
      threatened violations of the obligations hereunder of any Person subject to
      this
      Agreement.

     

    (b)           Notwithstanding
      anything in this Agreement to the contrary, neither the Company nor the Rights
      Agent shall have any liability to any holder of a Right or other Person as
      a
      result 

     

     

    
      
        
        

      

      
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      of
        its
        inability to perform any of its obligations under this Agreement by reason
        of
        any preliminary or permanent injunction or other order, judgment, decree
        or
        ruling (whether interlocutory or final) issued by a court of competent
        jurisdiction or by a governmental regulatory, self-regulatory or administrative
        agency or commission, or any statute, rule, regulation, or executive order
        promulgated or enacted by any governmental authority, prohibiting or otherwise
        restraining performance of such obligation; provided, however that
        the Company shall use commercially reasonable efforts to have any such
        injunction, order, judgment, decree or ruling lifted or otherwise overturned
        as
        soon as possible.

    

     

    Section
      15                                Agreement
      of Rights Holders

     

    Every
      holder of a Right by accepting the same consents and agrees with the Company
      and
      the Rights Agent and with every other holder of a Right that:

     

    (a)  prior
      to
      the Distribution Date, the Rights shall be transferable only in connection
      with
      the transfer of shares of Class A Common Stock or Class B Common
      Stock;

     

    (b)  after
      the
      Distribution Date, the Rights Certificates are transferable only on the registry
      books of the Rights Agent if surrendered at the principal office or offices
      of
      the Rights Agent designated for such purposes, duly endorsed or accompanied
      by a
      proper instrument of transfer and with the appropriate forms and certificates
      fully executed;

     

    (c)  the
      Company and the Rights Agent may deem and treat the person in whose name a
      Rights Certificate (or, prior to the Distribution Date, the associated Class
      A
      Common Stock or Class B Common Stock share certificate) is registered as the
      absolute owner thereof and of the Rights evidenced thereby (notwithstanding
      any
      notations of ownership or writing on the Rights Certificates or the associated
      Class A Common Stock or Class B Common Stock share certificate made by anyone
      other than the Company or the Rights Agent) for all purposes whatsoever, and
      neither the Company nor the Rights Agent shall be affected by any notice to
      the
      contrary; and

     

    (d)  such
      holder expressly waives any right to receive any fractional Rights and any
      fractional securities upon exercise or exchange of a Right, except as otherwise
      provided in Section 13.

     

    Section
      16                                Rights
      Certificate Holder Not Deemed a Stockholder

     

    No
      holder, as such, of any Rights Certificate shall be entitled to vote, receive
      dividends or be deemed for any purpose the holder of the number of one
      one-thousandths of a share of Preferred Stock or any other securities of the
      Company which may at any time be issuable on the exercise of the Rights
      represented thereby, nor shall anything contained herein or in any Rights
      Certificate be construed to confer upon the holder of any Rights Certificate,
      as
      such, any of the rights of a stockholder of the Company or any right to vote
      for
      the election of directors or upon any matter submitted to stockholders at any
      meeting thereof, or to give or withhold consent to any corporate action, or
      to
      receive notice of meetings or other actions affecting stockholders (except
      as
      provided in Section 24 hereof), or to receive dividends or subscription rights,
      or otherwise, until the Right or Rights evidenced by such Rights Certificate
      shall have been exercised in accordance with the provisions hereof.

     

     

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    Section
      17                                Concerning
      the Rights Agent

     

    (a)  The
      Company shall pay to the Rights Agent reasonable compensation for all services
      rendered by it hereunder and, from time to time, on demand of the Rights Agent,
      reimbursement for its reasonable expenses and counsel fees and disbursements
      and
      other disbursements incurred in the preparation, negotiation, delivery,
      amendment, administration and execution of this Agreement and the exercise
      and
      performance of its duties hereunder.  The Company shall also indemnify
      the Rights Agent for, and hold it harmless against, any loss, liability, damage,
      judgment, fine, penalty, claim, demand, settlement, cost or expense (including
      without limitation, the reasonable fees and expenses of legal counsel), incurred
      without gross negligence, bad faith or willful misconduct on the part of the
      Rights Agent (which gross negligence, bad faith or willful misconduct must
      be
      determined by a final, non-appealable order, judgment, decree or ruling of
      a
      court of competent jurisdiction), for any action taken, suffered, or omitted
      by
      the Rights Agent in connection with the acceptance, administration, exercise
      and
      performance of its duties under this Agreement, including the costs and expenses
      of defending against any claim of liability arising therefrom. The reasonable
      costs and expenses incurred in enforcing this right of indemnification shall
      be
      paid by the Company (except upon a determination of gross negligence, bad faith
      or willful misconduct).  The provision of this Section 17 and Section
      19 below shall survive the termination of this Agreement, the exercise of or
      expiration of the Rights and the resignation, replacement or removal of the
      Rights Agent.

     

    (b)  The
      Rights Agent shall be authorized and protected and shall incur no liability
      for
      or in respect of any action taken, suffered or omitted by it in connection
      with
      its acceptance or administration of this Agreement and the exercise and
      performance of its duties hereunder, in reliance upon any Rights Certificate
      or
      certificate evidencing shares of Preferred Stock, Class A Common Stock, Class
      B
      Common Stock or other securities of the Company, instrument of assignment or
      transfer, power of attorney, endorsement, affidavit, letter, notice, direction,
      consent, certificate, statement, or other paper or document believed by it
      to be
      genuine and to be signed, executed and, where necessary, verified or
      acknowledged, by the proper Person or Persons or otherwise upon the advice
      of
      counsel as set forth in Section 19.  The Rights Agent shall not be
      deemed to have knowledge of any event of which it was supposed to have received
      notice thereof hereunder, and the Rights Agent shall be fully protected and
      shall incur no liability for failing to take any action in connection therewith
      unless and until it has received such notice, provided, however,
      that the Rights Agent will not be entitled to such protection in cases of bad
      faith or willful misconduct.

     

    Section
      18                                Merger,
      Consolidation or Change of Name of Rights Agent

     

    (a)  Any
      Person into which the Rights Agent or any successor Rights Agent may be merged
      or with which it may be consolidated, or any Person resulting from any merger
      or
      consolidation to which the Rights Agent or any successor Rights Agent shall
      be a
      party, or any Person succeeding to the shareholder services business of the
      Rights Agent or any successor Rights Agent, shall be the successor to the Rights
      Agent under this Agreement without the execution or filing of any paper or
      any
      further act on the part of any of the parties hereto; provided that such Person
      would be eligible for appointment as a successor Rights Agent under the
      provisions of Section 20 hereof.  If at the time such successor Rights
      Agent shall succeed to the agency created by this Agreement any of the Rights
      Certificates shall have been 

     

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

       

       

      countersigned
        but not delivered, any such successor Rights Agent may adopt the
        countersignature of a predecessor Rights Agent and deliver such Rights
        Certificates so countersigned; and if at that time any of the Rights
        Certificates shall not have been countersigned, any successor Rights Agent
        may
        countersign such Rights Certificates either in the name of the predecessor
        or in
        the name of the successor Rights Agent; and in all such cases such Rights
        Certificates shall have the full force provided in the Rights Certificates
        and
        in this Agreement.

    

     

    (b)  If
      at any
      time the name of the Rights Agent changes and at such time any of the Rights
      Certificates have been countersigned but not delivered, the Rights Agent may
      adopt the countersignature under its prior name and deliver Rights Certificates
      so countersigned; and if at that time any of the Rights Certificates have been
      countersigned, the Rights Agent may countersign such Rights Certificates either
      in its prior name or in its changed name; and in all such cases such Rights
      Certificates shall have the full force provided in the Rights Certificates
      and
      in this Agreement.

     

    Section
      19                                Duties
      of Rights Agent

     

    The
      Rights Agent undertakes to perform the duties and obligations expressly imposed
      by this Agreement (and no implied duties) upon the following terms and
      conditions, by all of which the Company and the holders of Rights Certificates,
      by their acceptance thereof, shall be bound:

     

    (a)  The
      Rights Agent may consult with legal counsel (who may be legal counsel for the
      Company), and the advice or opinion of such counsel shall be full and complete
      authorization and protection to the Rights Agent and the Rights Agent shall
      incur no liability for or in respect of any action taken, suffered or omitted
      by
      it in accordance with such advice or opinion.

     

    (b)  Whenever
      in the performance of its duties under this Agreement the Rights Agent shall
      deem it necessary or desirable that any fact or matter (including, without
      limitation, the identity of any Acquiring Person and the determination of the
      Current Per Share Market Price) be proved or established by the Company prior
      to
      taking, suffering or omitting to take any action hereunder, such fact or matter
      (unless other evidence in respect thereof be herein specifically prescribed)
      may
      be deemed to be conclusively proved and established by a certificate signed
      by
      the Chairman of the Board, the Chief Executive Officer, the President, any
      Vice
      President, the Treasurer, any Assistant Treasurer, the Secretary or any
      Assistant Secretary of the Company and delivered to the Rights Agent; and such
      certificate shall be full and complete authorization and protection to the
      Rights Agent and the Rights Agent shall incur no liability for or in respect
      of
      any action taken or suffered by it under the provisions of this Agreement in
      reliance upon such certificate.

     

    (c)  The
      Rights Agent shall be liable hereunder only for its own gross negligence, bad
      faith or willful misconduct (which gross negligence, bad faith or willful
      misconduct must be determined by a final, none-appealable order, judgment,
      decree or ruling of a court of competent jurisdiction).  Anything to
      the contrary notwithstanding, in no event shall the Rights Agent be liable
      for
      special, punitive, indirect, consequential or incidental loss or damage of
      any
      kind whatsoever (including but not limited to lost profits), even if the Rights
      Agent has been advised 

     

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

       

       

      of
        the
        likelihood of such loss or damage.  Any liability of the Rights Agent
        under this Agreement will be limited to the amount of annual fees paid by
        the
        Company to the Rights Agent.

    

     

    (d)  The
      Rights Agent shall not be liable for or by reason of any of the statements
      of
      fact or recitals contained in this Agreement or in the Rights Certificates
      nor
      shall it be required to verify the same (except as to its countersignature
      on
      such Rights Certificates), but all such statements and recitals are and shall
      be
      deemed to have been made by the Company only.

     

    (e)  The
      Rights Agent shall be under no responsibility in respect of the validity of
      this
      Agreement or the execution and delivery hereof (except the due execution hereof
      by the Rights Agent) or in respect of the validity or execution of any Rights
      Certificate (except its countersignature thereof); nor shall it be responsible
      for any breach by the Company of any covenant or condition contained in this
      Agreement or in any Rights Certificate; nor shall it be responsible for any
      adjustment required under the provisions of Sections 11, 13, 23 or 24 hereof
      or
      responsible for the manner, method or amount of any such adjustment or the
      ascertaining of the existence of facts that would require any such adjustment
      (except with respect to the exercise of Rights evidenced by Rights Certificates
      after actual notice of any such adjustment); nor shall it by any act hereunder
      be deemed to make any representation or warranty as to the authorization or
      reservation of any shares of Class A Common Stock, Class B Common Stock or
      Preferred Stock to be issued pursuant to this Agreement or any Rights
      Certificate or as to whether any shares of Class A Common Stock, Class B Common
      Stock or Preferred Stock shall, when so issued, be validly authorized and
      issued, fully paid and nonassessable.

     

    (f)  The
      Company agrees that it shall perform, execute, acknowledge and deliver or cause
      to be performed, executed, acknowledged and delivered all such further and
      other
      acts, instruments and assurances as may reasonably be required by the Rights
      Agent for the carrying out or performing by the Rights Agent of the provisions
      of this Agreement.

     

    (g)  The
      Rights Agent is hereby authorized and directed to accept instructions with
      respect to the performance of its duties hereunder from the Chairman of the
      Board, the Chief Executive Officer, the President, any Vice President, the
      Secretary, any Assistant Secretary, the Treasurer or any Assistant Treasurer
      of
      the Company, and to apply to such officers for advice or instructions in
      connection with its duties, and it shall not be liable for any action taken
      or
      suffered to be taken by it in good faith in accordance with instructions of
      any
      such officer.

     

    (h)  The
      Rights Agent and any stockholder, director, officer or employee of the Rights
      Agent may buy, sell or deal in any of the Rights or other securities of the
      Company or become pecuniarily interested in any transaction in which the Company
      may be interested, or contract with or lend money to the Company or otherwise
      act as fully and freely as though it were not Rights Agent under this
      Agreement.  Nothing herein shall preclude the Rights Agent from acting
      in any other capacity for the Company or for any other Person.

     

    (i)  The
      Rights Agent may execute and exercise any of the rights or powers hereby vested
      in it or perform any duty hereunder either itself (through its directors,
      officers or employees) or by or through its attorneys or agents, and the Rights
      Agent shall not be answerable or accountable for any act, omission, default,
      neglect or misconduct of any such attorneys or agents or for any loss to the
      Company or any other Person resulting from any such act, default, 

     

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

       

       

      neglect
        or misconduct, absent gross negligence, bad faith or willful misconduct in
        the
        selection and continued employment thereof (which gross negligence, bad faith
        or
        willful misconduct must be determined by a final, non-appealable order,
        judgment, decree or ruling of a court of competent
        jurisdiction).

    

     

    (j)  No
      provision of this Agreement shall require the Rights Agent to expend or risk
      its
      own funds or otherwise incur any financial liability in the performance of
      any
      of its duties hereunder or in the exercise of its rights if there shall be
      reasonable grounds for believing that repayment of such funds or adequate
      indemnification against such risk or liability is not assured to
      it.

     

    (k)  If,
      with
      respect to any Rights Certificate surrendered to the Rights Agent for exercise,
      transfer, split up, combination or exchange, either (i) the certificate attached
      to the form of assignment or form of election to purchase, as the case may
      be,
      has either not been completed or indicates an affirmative response to clause
      1
      and/or 2 thereof, or (ii) the Rights Agent has received notice of a suspension,
      the Rights Agent shall not take any further action with respect to such
      requested exercise, transfer, split up, combination or exchange, without first
      consulting with the Company, and shall thereafter take further action with
      respect thereto only in accordance with the Company's written
      instructions.

     

    Section
      20                                Change
      of Rights Agent

     

    The
      Rights Agent or any successor Rights Agent may resign and be discharged from
      its
      duties under this Agreement upon thirty (30) days' notice in writing mailed
      to
      the Company, and to each transfer agent of the shares of Class A Common Stock,
      Class B Common Stock and Preferred Stock known to the Rights Agent,
      respectively, by registered or certified mail, and, if such resignation occurs
      after the Distribution Date, to the registered holders of the Rights
      Certificates by first-class mail.  The Company may remove the Rights
      Agent or any successor Rights Agent upon thirty (30) days' notice in writing,
      mailed to the Rights Agent or successor Rights Agent, as the case may be, and
      to
      each transfer agent of the shares of Class A Common Stock, the Class B Common
      Stock and the Preferred Stock, by registered or certified mail, and, if such
      removal occurs after the Distribution Date, to the holders of the Rights
      Certificates by first-class mail.  If the Rights Agent shall resign or
      be removed or shall otherwise become incapable of acting, the Company shall
      appoint a successor to the Rights Agent.  If the Company shall fail to
      make such appointment within a period of thirty (30) days after giving notice
      of
      such removal or after it has been notified in writing of such resignation or
      incapacity by the resigning or incapacitated Rights Agent or by the holder
      of a
      Rights Certificate (who shall, with such notice, submit his Rights Certificate
      for inspection by the Company), then any registered holder of any Rights
      Certificate may apply to any court of competent jurisdiction for the appointment
      of a new Rights Agent.  Any successor Rights Agent, whether appointed
      by the Company or by such a court, shall be (a) a legal business entity
      organized and doing business under the laws of the United States or of the
      State
      of New York or of any other state of the United States, in good standing, which
      is authorized under such laws to exercise corporate trust, stock transfer or
      shareholder services powers and which has at the time of its appointment as
      Rights Agent a combined capital and surplus of at least $50,000,000 or (b)
      an
      affiliate of a legal business entity described in clause (a) of this
      sentence.  After appointment, the successor Rights Agent shall be
      vested with the same powers, rights, duties and responsibilities as if it had
      been originally named 

     

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

       

       

      as
        Rights
        Agent without further act or deed; but the predecessor Rights Agent shall
        deliver and transfer to the successor Rights Agent any property at the time
        held
        by it hereunder, and execute and deliver any further assurance, conveyance,
        act
        or deed necessary for the purpose.  Not later than the effective date
        of any such appointment, the Company shall file notice thereof in writing
        with
        the predecessor Rights Agent and each transfer agent of the shares of Class
        A
        Common Stock, the Class B Common Stock and the Preferred Stock, and, if such
        appointment occurs after the Distribution Date, mail a notice thereof in
        writing
        to the registered holders of the Rights Certificates.  Failure to give
        any notice provided for in this Section 20, however, or any defect therein,
        shall not affect the legality or validity of the resignation or removal of
        the
        Rights Agent or the appointment of the successor Rights Agent, as the case
        may
        be.

    

     

    Section
      21                                Issuance
      of New Rights Certificates

     

    Notwithstanding
      any of the provisions of this Agreement or of the Rights to the contrary, the
      Company may, at its option, issue new Rights Certificates evidencing Rights
      in
      such form as may be approved by the Board to reflect any adjustment or change
      in
      the Purchase Price and the number or kind or class of shares or other securities
      or property purchasable under the Rights Certificates made in accordance with
      the provisions of this Agreement.  In addition, in connection with the
      issuance or sale by the Company of shares of Class A Common Stock or Class
      B
      Common Stock following the Distribution Date and prior to the Expiration Date,
      the Company (a) shall, with respect to shares of Class A Common Stock or Class
      B
      Common Stock so issued or sold pursuant to the exercise, exchange or conversion
      of securities (other than Rights) issued prior to the Distribution Date which
      are exercisable or exchangeable for, or convertible into, shares of Class A
      Common Stock or Class B Common Stock and (b) may, in any other case, if deemed
      necessary or appropriate by the Board, issue Rights Certificates representing
      the appropriate number of Rights as would have been issued in respect of such
      shares of Class A Common Stock or Class B Common Stock if they had been issued
      or sold prior to the Distribution Date, as appropriately adjusted as provided
      herein as if they had been so issued or sold; provided, however,
      that (i) no such Rights Certificate shall be issued if, and to the extent that,
      in its good faith judgment the Board determines that the issuance of such Rights
      Certificate could have a material adverse tax consequence to the Company or
      to
      the Person to whom or which such Rights Certificate otherwise would be issued,
      and (ii) no such Rights Certificate shall be issued if, and to the extent that,
      appropriate adjustment shall otherwise have been made in lieu of the issuance
      thereof.

     

    Section
      22                                Redemption

     

    (a)  Prior
      to
      the Expiration Date, the Board may, at its option, redeem all but not less
      than
      all of the then-outstanding Rights at the redemption price of $0.001 per Right,
      as such amount may be appropriately adjusted to reflect any stock split, stock
      dividend or similar transaction occurring after the date hereof (such redemption
      price being hereinafter referred to as the "Redemption Price") at any
      time prior to the Close of Business on the Distribution Date.  Any
      such redemption shall be effective immediately upon the action of the Board
      ordering the same, unless such action of the Board expressly provides that
      such
      redemption shall be effective at a subsequent time or upon the occurrence or
      nonoccurrence of one or more specified events (in which case such redemption
      shall be effective in accordance with the provisions of such action of the
      Board).

     

     

    
      
        
        

      

      
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    (b)  Immediately
      upon the action of the Board ordering the redemption of the Rights, evidence
      of
      which shall have been filed with the Rights Agent and without any further action
      and without any notice, the right to exercise the Rights shall terminate and
      the
      only right thereafter of the holders of Rights shall be to receive the
      Redemption Price for each Right so held.  Promptly after the action of
      the Board ordering the redemption of the Rights, the Company shall give notice
      of such redemption to the Rights Agent and the holders of the then outstanding
      Rights by mailing such notice to all such holders at each holder's last address
      as it appears upon the registry books of the Rights Agent or, prior to the
      Distribution Date, on the registry books of the transfer agent for the shares
      of
      Class A Common Stock and Class B Common Stock.  Any notice which is
      mailed in the manner herein provided shall be deemed given, whether or not
      the
      holder receives the notice.  Each such notice of redemption shall
      state the method by which the payment of the Redemption Price shall be
      made.  The Company may, at its option, pay the Redemption Price in
      cash, shares of Class A Common Stock or Class B Common Stock as the case may
      be
      (based upon the Current Per Share Market Price of the Class A Common Stock
      or
      Class B Common Stock (determined pursuant to Section 11(d)) at the time of
      redemption), any other form of consideration deemed appropriate by the Board
      (based upon the fair market value of such other consideration, determined by
      the
      Board in good faith) or any combination thereof.  The Company may, at
      its option, combine the payment of the Redemption Price with any other payment
      being made concurrently to holders of Class A Common Stock or Class B Common
      Stock and, to the extent that any such other payment is discretionary, may
      reduce the amount thereof on account of the concurrent payment of the Redemption
      Price.  If legal or contractual restrictions prevent the Company from
      paying the Redemption Price (in the form of consideration deemed appropriate
      by
      the Board) at the time of redemption, the Company shall pay the Redemption
      Price, without interest, promptly after such time as the Company ceases to
      be so
      prevented from paying the Redemption Price.

     

    Section
      23                                Exchange

     

    (a)  The
      Board
      will, except as provided in Section 23(e) hereof, after the Distribution Date
      and effective as of the Distribution Date, exchange all of the then-outstanding
      and exercisable Rights (which shall not include Rights that have become void
      pursuant to the provisions of Section 11(a)(ii) hereof) for Class A Common
      Stock
      or Class B Common Stock, as the case may be, at an exchange ratio of two and
      a
      half (2.5) shares of Class A Common Stock or two and a half (2.5) shares of
      Class B Common Stock per Right, appropriately adjusted to reflect any stock
      split, stock dividend or similar transaction occurring after the date hereof
      (such exchange ratio being hereinafter referred to as the "Exchange
      Ratio").  If pursuant to an exchange in accordance with the terms
      of this Section 23(a), a registered holder of any Rights Certificate is entitled
      to receive shares of Class A Common Stock or Class B Common Stock in a principal
      amount that is not a whole number, the Company will round downward the amount
      of
      shares of Class A Common Stock or Class B Common Stock, as the case may be,
      so
      issued to the nearest whole number.   No Right may be transferred
      other than in connection with the transfer of the underlying shares of Class
      A
      Common Stock and/or Class B Common Stock or
      exercised pursuant to Section 7 or Section 11(a)(ii) hereof unless and until
      the
      Board shall have determined, with the consent of the holders of the majority
      of
      the Class B Common Stock pursuant to Section 23(e) hereof, not to effect the
      exchange contemplated in this Section 23.

     

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    (b)  Immediately
      upon the action of the Board ordering the exchange of Rights pursuant to
      subsection (a) of this Section 23 and without any further action and without
      any
      notice, the right to exercise such Rights shall terminate and the only right
      thereafter of a holder of such Rights shall be to receive that number of shares
      of Class A Common Stock or Class B Common Stock as the case may be equal to
      the
      number of such Rights held by such holder multiplied by the Exchange
      Ratio.  Promptly after the effectiveness of the exchange of Rights as
      provided in subsection (a) of this Section 23, the Company shall publicly
      announce such exchange (with prompt written notice thereof to the Rights Agent)
      and within 10 calendar days thereafter, shall give notice of such exchange
      to
      all of the holders of such Rights at their last addresses as they appear upon
      the registry books of the Rights Agent; provided, however, that
      the failure to give, or any defect in, such notice shall not affect the validity
      of such exchange.  Any notice which is mailed in the manner herein
      provided shall be deemed given, whether or not the holder receives the
      notice.  Each such notice of exchange shall state the method by which
      the exchange of shares of Class A Common Stock or Class B Common Stock for
      Rights shall be effected.

     

    (c)  In
      any
      exchange pursuant to this Section 23, the Company may substitute for any shares
      of Class A Common Stock or Class B Common Stock exchangeable for a Right (i)
      shares of Equivalent Common Stock as such term is used in Section 11(a)(iii),
      (ii) cash, (iii) debt securities of the Company, (iv) other assets or (v) any
      combination of the foregoing, in any event having an aggregate value, as
      determined in good faith by the Board (whose determination shall be described
      in
      a statement filed with the Rights Agent), equal to the current market value
      of
      one share of Class A Common Stock or Class B Common Stock as the case may be
      (determined pursuant to Section 11(d)) on the Trading Day immediately preceding
      the date of the effectiveness of the exchange pursuant to this Section
      23.

     

    (d)  Notwithstanding
      any other provision of this Agreement, the Company shall not issue or exchange
      Equivalent Common Stock, Equivalent Preferred Stock, cash  or other
      debt or equity securities of the Company, or make any pro rata issuance or
      exchange, pursuant to this Agreement without the prior written consent of the
      holders of a majority of the Class B Common Stock.

     

    (e)  Notwithstanding
      any other provision of this Agreement, the Company will not in any way amend
      or
      supplement this Section 23 without the prior written consent of the holders
      of a
      majority of the Class B Common Stock.

     

    Section
      24                                Notice
      of Certain Events

     

    (a)  If
      the
      Company proposes (i) to pay any dividend payable in stock of any class to the
      holders of shares of Preferred Stock or to make any other distribution to the
      holders of shares of Preferred Stock (other than a regular periodic cash
      dividend), (ii) to offer to the holders of shares of Preferred Stock rights,
      options, or warrants to subscribe for or to purchase any additional shares
      of
      Preferred Stock or shares of stock of any class or any other securities, rights
      or options, (iii) to effect any reclassification of its Preferred Stock (other
      than a reclassification involving only the subdivision of outstanding shares
      of
      Preferred Stock), (iv) to effect any consolidation or merger into or with any
      other Person, (v) to effect the liquidation, dissolution or winding up of the
      Company, or (vi) to declare or pay any dividend on the shares of Class A

     

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

       

       

      Common
        Stock or Class B Common Stock payable in shares of Class A Common Stock or
        Class
        B Common Stock, respectively, or to effect a subdivision, combination or
        reclassification of the Class A Common Stock or Class B Common Stock as the
        case
        may be, then, in each such case, the Company shall give to the Rights Agent
        and,
        to the extent possible, to each holder of a Rights Certificate, in accordance
        with Section 25 hereof, a notice of such proposed action, which shall specify
        the record date for the purposes of such stock dividend, distribution or
        offering of rights, warrants, or the date on which such reclassification,
        consolidation, merger, sale, transfer, liquidation, dissolution, or winding
        up
        is to take place and the date of participation therein by the holders of
        the
        shares of Preferred Stock, if any such date is to be fixed, and such notice
        shall be so given in the case of any action covered by clause (i) or (ii)
        above
        at least ten (10) days prior to the record date for determining holders of
        the
        shares of Class A Common Stock, Class B Common Stock, and/or Preferred Stock
        for
        purposes of such action, and in the case of any such other action covered
        by
        clause (1) or (ii) above at least ten (10) days prior to the date of such
        proposed action or the date of participation therein by the holders of the
        shares of Preferred Stock, whichever is the earlier.

    

     

    (b)  In
      case a
      Stock Acquisition Date occurs, then, in any such case, the Company shall as
      soon
      as practicable thereafter give to the Rights Agent and each holder of a Rights
      Certificate, to the extent feasible and in accordance with Section 25 hereof,
      a
      notice of the occurrence of such event, which shall specify the event and the
      consequences of the event to holders of Rights.

     

    Section
      25                                Notices

     

    (a)  Notices
      or demands authorized by this Agreement to be given or made by the Rights Agent
      or by the holder of any Rights Certificate to or on the Company shall be
      sufficiently given or made (a) immediately, if made by personal delivery to
      the
      party to be notified, (b) on the fifth (5th) day if
      sent by
      first-class mail, postage prepaid, (c) the next Business Day if by nationally
      recognized overnight courier or (d) upon confirmation, if transmission by
      facsimile combined with a phone call to the Company notifying it of such
      transmission, all addressed (until another address is filed in writing by the
      Company with the Rights) as follows:

     

    Charter
      Communications, Inc.

    12405
      Powerscourt Drive

    St.
      Louis, Missouri  63131

     

    Attention:
      Grier C. Raclin

    Facsimile:
      (314) 965-8793

    Phone:      (314)
      543-2306

     

    (b)  Subject
      to the provisions of Section 20, any notice or demand authorized by this
      Agreement to be given or made by the Company or by the holder of any Rights
      Certificate to or on the Rights Agent shall be sufficiently given or made (a)
      immediately, if made by personal delivery to the party to be notified, (b)
      on
      the fifth (5th)
      day if sent by first-class mail, postage prepaid, (c) the next Business Day
      if
      by nationally recognized overnight courier or (d) upon confirmation, if
      transmission by facsimile combined with a phone call to the Rights Agent

     

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

       

       

      notifying
        it of such transmission, all addressed (until another address is filed in
        writing by the Rights Agent with the Company) as follows:

    

     

    One
      Memorial Drive, Suite 900

    St.
      Louis, Missouri  63102

     

    Attention:
      Relationship Manager

    Facsimile:
      (314) 588-0665

    Phone:      (314)
      342-8211

     

    with
      a
      copy to:

     

    Mellon
      Investor Services LLC

    480
      Washington Boulevard

    Jersey
      City, NJ 07310

     

    Attention:  General
      Counsel

    Facsimile:
      (201) 680-4637

    Phone:      (201)
      680-4000

     

    (c)  Notices
      or demands authorized by this Agreement to be given or made by the Company
      or
      the Rights Agent to the holder of any Rights Certificate (or, if prior to the
      Distribution Date, to the holder of certificates representing shares of Class
      A
      Common Stock or Class B Common Stock) shall be sufficiently given or made if
      sent by first-class mail, postage prepaid, addressed to such holder at the
      address of such holder as shown on the registry books of the
      Company.

     

    Section
      26                                Supplements
      and Amendments

     

    Prior
      to
      the Distribution Date, the Company and the Rights Agent shall, subject to the
      other terms and conditions of this Agreement, if the Company so directs,
      supplement or amend any provision of this Agreement without the approval of
      any
      holders of certificates representing shares of Class A Common Stock, any such
      supplement or amendment to be evidenced by writing signed by the Company and
      the
      Rights Agent, provided, however, that the Company and the Rights
      Agent shall not supplement or amend this Agreement without the prior approval
      of
      the holders of a majority of the Class B Common Stock.  From and after
      the Distribution Date, the Company may and the Rights Agent shall, if the
      Company so directs, supplement or amend this Agreement without the approval
      of
      any holders of Rights Certificates in order (i) to cure any ambiguity, (ii)
      to
      correct or supplement any provision contained herein which may be defective
      or
      inconsistent with any other provisions herein, (iii) to shorten or lengthen
      any
      time period hereunder or (iv) to amend or supplement the provisions hereunder
      in
      any manner which the Company may deem necessary or desirable; provided,
however, that no such supplement or amendment shall adversely affect
      the
      interests of the holders of Rights Certificates (other than an Acquiring Person
      or any Affiliate or Associate of an Acquiring Person); and provided,
further, however, that the Company and the Rights Agent shall not
      supplement or amend this Agreement without the prior approval of the holders
      of
      a majority of the Class B Common Stock.  Upon the delivery of a
      certificate from an appropriate officer of the Company which states that the
      

     

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

       

       

      proposed
        supplement or amendment is in compliance with the terms of this Section 26,
        the
        Rights Agent shall execute such supplement or
        amendment.  Notwithstanding anything herein to the contrary, the
        Rights Agent shall not be obligated to enter into any supplement or amendment
        that affects the Rights Agent’s own right, duties, obligations or immunities
        under this Agreement, and the Rights Agent shall not be bound by supplements
        or
        amendments not executed by it.  Notwithstanding anything herein to the
        contrary, this Agreement may not be amended (other than pursuant to clauses
        (i)
        or (ii) of the preceding sentence) at a time when the Rights are not
        redeemable.

    

     

    Section
      27                                Successors

     

    All
      the
      covenants and provisions of this Agreement by or for the benefit of the Company
      or the Rights Agent shall bind and inure to the benefit of their respective
      successors and assigns hereunder.

     

    Section
      28                                Determinations
      and Actions by the Board

     

    (a)  For
      all
      purposes of this Agreement, any calculation of the number of shares of Class
      A
      Common Stock or Class B Common Stock or any other class of capital stock
      outstanding at any particular time, including for purposes of determining the
      particular percentage of such outstanding shares of Class A Common Stock or
      Class B Common Stock of which any Person is the Beneficial Owner, shall be
      made
      in accordance with the last sentence of Rule 13d-3(d)(1)(i) of the General
      Rules
      and Regulations under the Exchange Act.

     

    (b)  Notwithstanding
      anything to the contrary set forth in this Agreement and other than as set
      forth
      in Section 1(w)(i), Section 23 or in Section 26, the Board shall have the
      exclusive power and authority to administer this Agreement and to exercise
      all
      rights and powers specifically granted to the Board or to the Company, or as
      may
      be necessary or advisable in the administration of this Agreement, including,
      without limitation, the right and power to (i) interpret the provisions of
      this
      Agreement, and (ii) make all determinations and calculations deemed necessary
      or
      advisable for the administration of this Agreement (including a determination
      to
      redeem or not redeem the Rights or amend this Agreement).

     

    (c)   All
      such actions, calculations, interpretations and determinations (including,
      for
      purposes of clause (y) below, all omissions with respect to the foregoing)
      which
      are done or made by the Board in good faith, shall (x) be final, conclusive
      and
      binding on the Company, the Rights Agent, the holders of the Rights and all
      other parties, and (y) not subject the Board, or any of the directors on the
      Board to any liability to any person, including without limitation the Rights
      Agent and the holders of the Rights.  Unless otherwise notified, the
      Rights Agent shall always be entitled to assume that the Board acted in good
      faith and the Rights Agent shall be fully protected and shall incur no liability
      in reliance thereon.

     

    Section
      29                                Benefits
      of this Agreement

     

    Nothing
      in this Agreement shall be construed to give to any Person other than the
      Company, the Rights Agent and the registered holders of the Rights Certificates
      (and, prior to the Distribution Date, registered holders of shares of Class
      A
      Common Stock or Class B Common Stock) any legal or equitable right, remedy
      or
      claim under this Agreement; but this Agreement 

     

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

       

       

      shall
        be
        for the sole and exclusive benefit of the Company, the Rights Agent and the
        registered holders of the Rights Certificates (and, prior to the Distribution
        Date, registered holders of shares of Class A Common Stock or Class B Common
        Stock).

    

     

    Section
      30                                Severability

     

    If
      any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction or other authority to be invalid, void or unenforceable,
      the remainder of the terms, provisions, covenants and restrictions of this
      Agreement shall remain in full force and effect and shall in no way be affected,
      impaired or invalidated; provided, however, that notwithstanding
      anything in this Agreement to the contrary, if any such term, provision,
      covenant or restriction is held by such court or authority to be invalid, void
      or unenforceable and the Board determines in its good faith judgment that
      severing the invalid language from this Agreement would adversely affect the
      purpose or effect of this Agreement, the right of redemption set forth in
      Section 22 hereof shall be reinstated and shall not expire until the Close
      of
      Business on the tenth Business Day following the date of such determination
      by
      the Board.  Without limiting the foregoing, if any provision requiring
      a specific group of directors to act is held to by any court of competent
      jurisdiction or other authority to be invalid, void or unenforceable, such
      determination shall then be made by the Board in accordance with applicable
      law
      and the Company's Certificate of Incorporation and bylaws.

     

    Section
      31                                Governing
      Law

     

    This
      Agreement, each Right and each Rights Certificate issued hereunder shall be
      deemed to be a contract made under the laws of the State of Delaware and for
      all
      purposes shall be governed by and construed in accordance with the laws of
      such
      State applicable to contracts made and to be performed entirely within such
      State; except that all provisions regarding the rights, duties and obligations
      of the Rights Agent shall be governed by and construed in accordance with the
      law of the State of New York applicable to contracts made and to be performed
      entirely within such State.

     

    Section
      32                                Counterparts

     

    This
      Agreement may be executed in any number of counterparts and each of such
      counterparts shall for all purposes be deemed to be an original, and all such
      counterparts shall together constitute but one and the same
      instrument.

     

    Section
      33                                Descriptive
      Headings; Interpretation

     

    Descriptive
      headings of the several sections of this Agreement are inserted for convenience
      only and shall not control or affect the meaning or construction of any of
      the
      provisions hereof.  For the avoidance of doubt and for clarification
      purposes only, if under any circumstance contemplated herein Rights become
      exercisable for the purchase of shares of Class A Common Stock or Class B Common
      Stock, such Rights may only be exercised as follows:  (A) Rights
      issued in respect of Class A Common Stock will be exercisable only for the
      purchase of shares of Class A Common Stock (or any Equivalent Common Stock
      issued in respect thereof) and (B) Rights issued in respect of Class B Common
      Stock will be exercisable only for 

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

     

    the
      purchase of shares of Class B Common Stock (or any Equivalent Common Stock
      issued in respect thereof).

     

    Section
      34                                Termination

     

    Except
      as explicitly set forth herein,
      this Agreement and the Rights shall terminate as of the Expiration
      Date.  As soon as an Expiration Date has been determined pursuant to
      Section 1(w)(i), (ii), (iv) or (v), the Company shall as promptly as practicable
      notify the Rights Agent of the Expiration Date.

     

    

     

     

    [Remainder
      Of Page Left Intentionally Blank]

     

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

    

     

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

     

                                                                CHARTER
      COMMUNICATIONS, INC

     

     

     

     

                                                                 /s/
      Jeffrey
      T. Fisher

                                                                Name:
      Jeffrey T.
      Fisher

                                                                Title:   Executive
      Vice President and Chief

                                                                    Financial
      Officer

     

    

                                                                MELLON
      INVESTOR
      SERVICES LLC

     

                                                                                                        /s/
      Jane A.
      Marten 

                                                                                       Name:  Jane
      A. Marten 

                                                                                                       Title:
      Client
      Relationship Executive

    
       

    

     

     

    

     

    

     

    
      
        Signature
          page to Rights Agreement

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    Exhibit
      A

     

    CERTIFICATE
      OF DESIGNATION

    OF

    SERIES
      B
      JUNIOR PREFERRED STOCK

    OF

    CHARTER
      COMMUNICATIONS, INC .

     

    (Pursuant
      to Section 151 of the General Corporation Law of the State of
      Delaware)

     

    Charter
      Communications, Inc. (hereinafter called the "Company"), a
      corporation organized and existing under and by virtue of the General
      Corporation Law of the State of Delaware (the "DGCL"), does
      hereby certify:

     

    1.
      The
      name of the Company is Charter Communications, Inc.

     

    2.
      The
      restated certificate of incorporation, as amended (the "Certificate of
      Incorporation") of the Company authorizes the
      issuance of 250,000,000 shares of Preferred Stock, $0.001 par value (the
      "Preferred Stock"), and expressly vests in the Board of
      Directors of the Company (the "Board") the authority provided
      therein to provide for the issuance of said shares in series and by filing
      a
      certificate pursuant to the applicable law of the State of Delaware, to
      establish from time to time the number of shares to be included in each such
      series, and to fix the designation, powers, preferences and rights of the shares
      of each such series and the qualifications, limitations, or restrictions
      thereof.

     

    3.
      The
      Board, pursuant to the authority expressly vested in it as aforesaid, has
      adopted the following resolutions creating a "Series B Junior" series of
      Preferred Stock:

     

    RESOLVED,
      that a series of the class of authorized Preferred Stock of the Company be
      and
      hereby is created, and that the designation and amount thereof and the voting
      powers, preferences and relative participating, optional and other special
      rights of the shares of such series, and the qualifications, limitations or
      restrictions thereof are as follows:

     

    SERIES
      B JUNIOR PREFERRED STOCK

     

    Section
      35.   Designation
      and Amount.  The shares of such series will be
      designated as Series B Junior Preferred Stock (the "Series B
      Preferred") and the number of shares constituting the Series B
      Preferred is 1,000,000.  Such number of shares may be increased or
      decreased by resolution of the Board; provided, however, that no decrease will
      reduce the number of shares of Series B Preferred to a number less than the
      number of shares then outstanding plus the number of shares reserved for
      issuance upon the exercise of outstanding options, rights or warrants or upon
      the conversion of any outstanding securities issued by the Company and
      convertible into Series B Preferred.  The Series B Preferred is to be
      reserved solely for issuance pursuant to the Rights Agreement by and between
      the
      Company and Mellon Investor Services LLC, as rights agent, dated
August 14,
      2007.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section
      36.   Dividends
      and Distributions.

     

    (a)           Subject
      to the rights of the holders of any shares of any series of Preferred Stock
      ranking prior to the Series B Preferred with respect to dividends, the holders
      of shares of Series B Preferred, in preference to the holders of Class A Common
      Stock, par value $0.001 per share and Class B Common Stock, par value $0.001
      (collectively, the "Common Stock"), of the Company, and of any
      other junior stock, will be entitled to receive, when, as and if declared by
      the
      Board out of funds legally available for the purpose, dividends payable in
      cash
      (except as otherwise provided below) on such dates as are from time to time
      established for the payment of dividends on the Common Stock (each such date
      being referred to herein as a "Dividend Payment Date"),
      commencing on the first Dividend Payment Date after the first issuance of a
      share or fraction of a share of Series B Preferred (the "First Dividend
      Payment Date"), in an amount per share (rounded to the nearest cent)
      equal to, subject to the provision for adjustment hereinafter set forth, one
      thousand (1000) times the aggregate per share amount of all cash dividends,
      and
      one thousand (1000) times the aggregate per share amount (payable in kind)
      of
      all non-cash dividends, other than a dividend payable in shares of Common Stock
      or a subdivision of the outstanding shares of Common Stock (by reclassification
      or otherwise), declared on the Common Stock since the immediately preceding
      Dividend Payment Date or, with respect to the First Dividend Payment Date,
      since
      the first issuance of any share or fraction of a share of Series B
      Preferred.  In the event that the Company at any time (i) declares a
      dividend on the outstanding shares of Common Stock payable in shares of Common
      Stock, (ii) subdivides the outstanding shares of Common Stock, (iii) combines
      the outstanding shares of Common Stock into a smaller number of shares or (iv)
      issues any shares of its capital stock in a reclassification of the outstanding
      shares of Common Stock (including any such reclassification in connection with
      a
      consolidation or merger in which the Company is the continuing or surviving
      corporation), then, in each such case and regardless of whether any shares
      of
      Series B Preferred are then issued or outstanding, the amount to which holders
      of shares of Series B Preferred would otherwise be entitled immediately prior
      to
      such event will be correspondingly adjusted.

     

    (b)           The
      Company will declare a dividend on the Series B Preferred as provided in
      paragraph (a) of this Section 2 immediately after it declares a dividend on
      the
      Common Stock (other than a dividend payable in shares of Common
      Stock).  Each such dividend on the Series B Preferred will be payable
      immediately prior to the time at which the related dividend on the Common Stock
      is payable.

     

    (c)           Dividends
      will accrue on outstanding shares of Series B Preferred from the Dividend
      Payment Date next preceding the date of issue of such shares, unless (i) the
      date of issue of such shares is prior to the record date for the First Dividend
      Payment Date, in which case dividends on such shares will accrue from the date
      of the first issuance of a share of Series B Preferred or (ii) the date of
      issue
      is a Dividend Payment Date or is a date after the record date for the
      determination of holders of shares of Series B Preferred entitled to receive
      a
      dividend and before such Dividend Payment Date, in either of which events such
      dividends will accrue from such Dividend Payment Date.  Accrued but
      unpaid dividends will cumulate from the applicable Dividend Payment Date but
      will not bear interest.  Dividends paid on the shares of Series B
      Preferred in an amount less than the total amount of such dividends at the
      time
      accrued and 

     

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

       

       

      payable
        on such shares will be allocated pro rata on a share-by-share basis among
        all
        such shares at the time outstanding.  The Board may fix a record date
        for the determination of holders of shares of Series B Preferred entitled
        to
        receive payment of a dividend or distribution declared thereon, which record
        date will be not more than 60 calendar days prior to the date fixed for the
        payment thereof.

    

     

    Section
      37.   Voting
      Rights.  The holders of shares of Series B Preferred
      will have the following voting rights:

     

    (a)           Except
      as specifically set forth in the DGCL or provided in the balance of this Section
      3, the holders of shares of the Series B Preferred shall not be entitled to
      any
      voting rights with respect to any matters voted upon by
      stockholders.

     

    (b)           So
      long as any shares of the Series B Preferred are outstanding, the Company shall
      not amend its Certificate of Incorporation or Bylaws, without the written
      consent or the affirmative vote at a meeting called for that purpose of the
      holders of a majority of the votes of the shares of Series B Preferred then
      outstanding, voting separately as a class, which majority shall include the
      affirmative vote of such shares of Series B Preferred held by the holder of
      the
      Company's Class B Common Stock, par value$ 0.001, so as to (i) amend, alter
      or
      repeal any of the provisions of any resolution or resolutions establishing
      the
      Series B Preferred so as to affect adversely the powers, preferences or special
      rights of such Series B Preferred or (ii) authorize the issuance of, or
      authorize any obligation or security convertible into or evidencing the right
      to
      purchase shares of, any additional class or series of Preferred Stock that
      is
      senior to the Series B Preferred. Without limiting any of the foregoing, the
      Company shall have the right to issue any additional class or series of Junior
      Stock (as defined below) or Parity Stock (as defined below) without any approval
      of the shares of Series B Preferred then outstanding.

     

    Section
      38.   Certain
      Restrictions.

     

    (a)           Whenever
      dividends or other dividends or distributions payable on the Series B Preferred
      are in arrears, thereafter and until all accrued and unpaid dividends and
      distributions, whether or not declared, on shares of Series B Preferred
      outstanding have been paid in full, the Company will not:

     

    (i)  Declare
      or pay dividends, or make any other distributions, on any shares of stock
      ranking junior (either as to dividends or upon liquidation, dissolution or
      winding up) ("Junior Stock") to the shares of Series B
      Preferred;

     

    (ii)  Declare
      or pay dividends, or make any other distributions, on any shares of stock
      ranking on a parity (either as to dividends or upon liquidation, dissolution
      or
      winding up) ("Parity Stock") with the shares of Series B
      Preferred, except dividends paid ratably on the shares of Series B Preferred
      and
      all such Parity Stock on which dividends are payable or in arrears in proportion
      to the total amounts to which the holders of all such shares are then
      entitled;

     

    (iii)  Redeem,
      purchase or otherwise acquire for consideration shares of any Junior Stock;
      provided, however, that the Company may at any time redeem, purchase

     

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

       

       

      or
        otherwise acquire shares of any such Junior Stock in exchange for shares
        of any
        other Junior Stock of the Company; or

    

     

    (iv)  Redeem,
      purchase or otherwise acquire for consideration any shares of Series B
      Preferred, or any shares of Parity Stock, except in accordance with a purchase
      offer made in writing or by publication (as determined by the Board) to all
      holders of such shares upon such terms as the Board, after consideration of
      the
      respective annual dividend rates and other relative rights and preferences
      of
      the respective series and classes, may determine in good faith will result
      in
      fair and equitable treatment among the respective series or
      classes.

     

    (b)  The
      Company will not permit any majority-owned subsidiary of the Company to purchase
      or otherwise acquire for consideration any shares of stock of the Company unless
      the Company could, under paragraph (a) of this Section 4, purchase or otherwise
      acquire such shares at such time and in such manner.

     

    Section
      39.   Reacquired
      Shares.  Any shares of Series B Preferred purchased or
      otherwise acquired by the Company in any manner whatsoever will be retired
      and
      canceled promptly after the acquisition thereof.  All such shares will
      upon their cancellation become authorized but unissued shares of Preferred
      Stock
      and may be reissued as part of a new series of Preferred Stock subject to the
      conditions and restrictions on issuance set forth herein, in the Certificate
      of
      Incorporation of the Company, or in any other Certificate of Designations
      creating a series of Preferred Stock or any similar stock or as otherwise
      required by law.

     

    Section
      40.   Liquidation,
      Dissolution or Winding Up.  Upon any liquidation,
      dissolution or winding up of the Company, no distribution will be made (a)
      to
      the holders of shares of Junior Stock unless, prior thereto, the holders of
      shares of Series B Preferred have received $10 per share, plus an amount equal
      to accrued and unpaid dividends and distributions thereon, whether or not
      declared, to the date of such payment; provided, however, that the holders
      of
      shares of Series B Preferred will be entitled to receive an aggregate amount
      per
      share, subject to the provision for adjustment hereinafter set forth, equal
      to
      one thousand (1000) times the aggregate amount to be distributed per share
      to
      holders of shares of Common Stock or (b) to the holders of shares of Parity
      Stock, except distributions made ratably on the shares of Series B Preferred
      and
      all such Parity Stock in proportion to the total amounts to which the holders
      of
      all such shares are entitled upon such liquidation, dissolution or winding
      up.  In the event the Company at any time (i) declares a dividend on
      the outstanding shares of Common Stock payable in shares of Common Stock, (ii)
      subdivides the outstanding shares of Common Stock, (iii) combines the
      outstanding shares of Common Stock into a smaller number of shares or (iv)
      issues any shares of its capital stock in a reclassification of the outstanding
      shares of Common Stock (including any such reclassification in connection with
      a
      consolidation or merger in which the Company is the continuing or surviving
      corporation), then, in each such case and regardless of whether any shares
      of
      Series B Preferred are then issued or outstanding, the aggregate amount to
      which
      each holder of shares of Series B Preferred would otherwise be entitled
      immediately prior to such event will be correspondingly
      adjusted.

     

     

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

    

     

    Section
      41.   Consolidation,
      Merger, Etc.  In the event that the Company enters into
      any consolidation, merger, combination or other transaction in which the shares
      of Common Stock are exchanged for or changed into other stock or securities,
      cash and/or any other property, then, in each such case, each share of Series
      B
      Preferred will at the same time be similarly exchanged for or changed into
      an
      amount per share, subject to the provision for adjustment hereinafter set forth,
      equal to one thousand (1000) times the aggregate amount of stock, securities,
      cash and/or any other property (payable in kind), as the case may be, into
      which
      or for which each share of Common Stock is changed or exchanged.  In
      the event the Company at any time (a) declares a dividend on the outstanding
      shares of Common Stock payable in shares of Common Stock, (b) subdivides the
      outstanding shares of Common Stock, (c) combines the outstanding shares of
      Common Stock in a smaller number of shares or (d) issues any shares of its
      capital stock in a reclassification of the outstanding shares of Common Stock
      (including any such reclassification in connection with a consolidation or
      merger in which the Company is the continuing or surviving corporation), then,
      in each such case and regardless of whether any shares of Series B Preferred
      are
      then issued or outstanding, the amount set forth in the preceding sentence
      with
      respect to the exchange or change of shares of Series B Preferred will be
      correspondingly adjusted.

     

    Section
      42.   Redemption.  The
      shares of Series B Preferred are not redeemable.

     

    Section
      43.   Rank.  The
      Series B Preferred rank, with respect to the payment of dividends and the
      distribution of assets, junior to all other series of the Company's Preferred
      Stock, unless the terms of such series shall so
      provide.

     

    Section
      44.   Amendment.   Notwithstanding
      anything contained in the Certificate of Incorporation of the Company to the
      contrary and in addition to any other vote required by applicable law, the
      Certificate of Incorporation of the Company may not be amended in any manner
      that would materially alter or change the powers, preferences or special rights
      of the Series B Preferred so as to affect them adversely without the affirmative
      vote of the holders of at least 51% of the outstanding shares of Series B
      Preferred, voting together as a single series.

     

    FURTHER
      RESOLVED, that the statements contained in the foregoing resolutions creating
      and designating the said Series B Junior Preferred Stock and fixing the number,
      powers, preferences and relative, optional, participating, and other special
      rights and the qualifications, limitations, restrictions, and other
      distinguishing characteristics thereof shall, upon the effective date of said
      series, be deemed to be included in and be a part of the Certificate of
      Incorporation of the Company pursuant to the provisions of Sections 104 and
      151
      of the DGCL.

     

    

     

    [Remainder
      Of Page Left Intentionally Blank]

     

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

    

     

    IN
      WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the
      Company by the undersigned on August 14, 2007.

     

                                CHARTER
      COMMUNICATIONS, INC.

     

     

     

                                By:  /s/
      Jeffrey T.
      Fisher                                                                           

     

                                Name:  Jeffrey
      T. Fisher

                                Title:  
       Executive Vice President and Chief 

                                    
Financial
      Officer

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    Exhibit
      B

     

    FORM
      OF RIGHTS CERTIFICATE

     

    Certificate
      No.
      R-___________         ___________Rights
      in respect of Class __ Common Stock

     

    NOT
      EXERCISABLE AFTER DECEMBER 31, 2008 OR EARLIER IF REDEEMED, EXCHANGED OR
      AMENDED.  THE RIGHTS ARE SUBJECT TO REDEMPTION, EXCHANGE AND AMENDMENT
      AT THE OPTION OF THE COMPANY, ON THE TERMS SET FORTH IN THE RIGHTS
      AGREEMENT.  UNDER CERTAIN CIRCUMSTANCES SPECIFIED IN THE RIGHTS
      AGREEMENT, RIGHTS THAT ARE OR WERE BENEFICIALLY OWNED BY AN ACQUIRING PERSON
      OR
      AN AFFILIATE OR AN ASSOCIATE OF AN ACQUIRING PERSON (AS SUCH TERMS ARE DEFINED
      IN THE RIGHTS AGREEMENT) OR A TRANSFEREE THEREOF MAY BECOME NULL AND
      VOID.

     

    RIGHTS
      CERTIFICATE

     

    Charter
      Communications, Inc.

     

    This
      certifies that _________________, or registered assigns, is the registered
      owner
      of the number of Rights set forth above, each of which entitles the owner
      thereof, subject to the terms, provisions, and conditions of the Rights
      Agreement (including without limitation Section 11(a)(ii)), (the
“Rights Agreement”), by and between Charter
      Communications, Inc., a Delaware corporation (the
“Company”), and Mellon Investor Services LLC, a New
      Jersey limited liability company (the “Rights Agent”),
      dated as of August 14, 2007, to purchase from the Company at any time after
      the
      Distribution Date (as such term is defined in the Rights Agreement) and prior
      to
      5:00 p.m. (New York time) on the Expiration Date (as such term is defined in
      the
      Rights Agreement) at the office or offices of the Rights Agent designated for
      such purpose, one one-thousandth of a fully paid nonassessable share of Series
      B
      Junior Preferred Stock, par value $0.001 per share (the “Preferred
      Shares”), of the Company, at a purchase price of $25.00 per one
      one-thousandth of a Preferred Share (the “Purchase
      Price”), upon presentation and surrender of this Rights
      Certificate with the Form of Election to Purchase and related Certificate duly
      executed.  If this Rights Certificate is exercised in part, the holder
      will be entitled to receive upon surrender hereof another Rights Certificate
      or
      Rights Certificates for the number of whole Rights not exercised.  The
      number of Rights evidenced by this Rights Certificate (and the number of one
      one-thousandths of a Preferred Share which may be purchased upon exercise
      thereof) set forth above, and the Purchase Price set forth above, are the number
      and Purchase Price as of the date of the Rights Agreement, based on the
      Preferred Shares as constituted at such date.  Terms used herein with
      initial capital letters and not defined herein are used herein with the meanings
      ascribed thereto in the Rights Agreement.

     

    As
      provided in the Rights Agreement, the Purchase Price and/or the number and/or
      kind of shares of Preferred Stock (or other securities, as the case may be)
      which may be purchased 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      upon
        the
        exercise of the Rights evidenced by this Rights Certificate are subject to
        adjustment upon the occurrence of certain events.

    

     

    This
      Rights Certificate is subject to all of the terms, provisions and conditions
      of
      the Rights Agreement, which terms, provisions and conditions are hereby
      incorporated herein by reference and made a part hereof and to which Rights
      Agreement reference is hereby made for a full description of the rights,
      limitations of rights, obligations, duties and immunities of the Rights Agent,
      the Company and the holders of the Rights Certificates, which limitations of
      rights include the temporary suspension of the exercisability of the Rights
      under the circumstances specified in the Rights Agreement.  Copies of
      the Rights Agreement are on file at the principal executive offices of the
      Company and can be obtained from the Company without charge upon written request
      therefor.

     

    Pursuant
      to the Rights Agreement, from and after the occurrence of a Flip-in Event,
      any
      Rights that are Beneficially Owned by (i) any Acquiring Person (or any Affiliate
      or Associate of any Acquiring Person), (ii) a transferee of any Acquiring Person
      (or any such Affiliate or Associate) who becomes a transferee after the
      occurrence of a Flip-in Event or (iii) a transferee of any Acquiring Person
      (or
      any such Affiliate or Associate) who became a transferee prior to or
      concurrently with the Flip-in Event pursuant to either (a) a transfer from
      an
      Acquiring Person to holders of its equity securities or to any Person with
      whom
      it has any continuing agreement, arrangement or understanding regarding the
      transferred Rights or (b) a transfer which the Board of Directors of the Company
      has determined is part of a plan, arrangement or understanding which has the
      purpose or effect of avoiding certain provisions of the Rights Agreement, and
      subsequent transferees of any of such Persons, will be void without any further
      action and any holder of such Rights will thereafter have no rights whatsoever
      with respect to such Rights under any provision of the Rights
      Agreement.  From and after the occurrence of a Flip-in Event, no
      Rights Certificate will be issued that represents Rights that are or have become
      void pursuant to the provisions of the Rights Agreement, and any Rights
      Certificate delivered to the Rights Agent that represents Rights that are or
      have become void pursuant to the provisions of the Rights Agreement will be
      canceled.

     

    This
      Rights Certificate, with or without other Rights Certificates, may be
      transferred, split up, combined or exchanged for another Rights Certificate
      or
      Rights Certificates entitling the holder to purchase a like number of one
      one-thousandths of a Preferred Share (or other securities, as the case may
      be)
      as the Rights Certificate or Rights Certificates surrendered entitled such
      holder (or former holder in the case of a transfer) to purchase, upon
      presentation and surrender hereof at the office or offices of the Rights Agent
      designated for such purpose, with the Form of Assignment (if appropriate) and
      the related Certificate duly executed.

     

    Subject
      to the provisions of the Rights Agreement, the Rights evidenced by this
      Certificate may be redeemed by the Company at its option at a redemption price
      of $0.001 per Right or may be exchanged in whole or in part.  The
      Rights Agreement may be supplemented and amended by the Company, as provided
      therein.

     

    The
      Company is not required to issue fractions of Preferred Shares (other than
      fractions which are integral multiples of one one-thousandth of a Preferred
      Share, which may, at the option of the Company, be evidenced by depositary
      receipts) or other securities issuable, as the 

     

     

    
      
        
        

      

      
        44

        
          

        

      

      
        
        

      

       

       

      case
        may
        be, upon the exercise of any Right or Rights evidenced hereby.  If
        pursuant to an exchange in accordance with the terms of the Rights Agreement,
        a
        registered holder of any Rights Certificate is entitled to receive shares
        of
        Class A Common Stock or Class B common stock in a principal amount that is
        not a
        whole number, the Company will round downward the amount of shares of Class
        A
        common stock or Class B common stock, as the case may be, so issued to the
        nearest whole number.

    

     

    No
      holder
      of this Rights Certificate, as such, will be entitled to vote or receive
      dividends or be deemed for any purpose the holder of the Preferred Shares or
      of
      any other securities of the Company which may at any time be issuable upon
      the
      exercise of the Right or Rights represented hereby, nor will anything contained
      herein or in the Rights Agreement be construed to confer  upon the
      holder hereof, as such, any of the rights of a stockholder of the Company or
      any
      right to vote for the election of directors or upon any matter submitted to
      stockholders at any meeting thereof, or to give or withhold consent to any
      corporate action, or to receive notice of meetings or other actions affecting
      stockholders (except as provided in the Rights Agreement), or to receive
      dividends or subscription rights, or otherwise, until the Right or Rights
      evidenced by this Rights Certificate have been exercised in accordance with
      the
      provisions of the Rights Agreement.

     

    This
      Rights Certificate will not be valid or obligatory for any purpose until it
      has
      been countersigned by the Rights Agent.

     

    

     

    [Remainder
      Of Page Left Intentionally Blank]

     

    
 

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

     

    WITNESS
      the facsimile signature of the proper officers of the Company and its corporate
      seal.  Dated as of ___________, ______________.

     

    

     

                        CHARTER
      COMMUNICATIONS, INC.

     

                        By:                                                                           

     

                        Name:

     

                        Title:

     

    

     

    Countersigned:

     

    MELLON
      INVESTOR SERVICES LLC

     

    By:  _________________________________

    Name:

    Title:

    

    

     

    
      
        
          Signature
            page for Rights Certificate

        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Form
      of
      Reverse Side of Rights Certificate

     

    FORM
      OF ASSIGNMENT

     

    (To
      be
      executed by the registered holder if such holder desires to transfer the Rights
      Certificate)

     

    FOR
      VALUE
      RECEIVED, _______________________ hereby sells, assigns and transfers
      unto

     

     

    _____________________________________________________________________________

    (Please
      print name and address of transferee)

     

    this
      Rights Certificate, together with all right, title and interest therein, and
      does hereby irrevocably constitute and appoint Attorney, to transfer the within
      Rights Certificate on the books of the within-named Company, with full power
      of
      substitution.

     

    Dated
      :  __________, __________________

     

     

                        _________________________________________

                        Signature

     

    Signature(s)
      Guaranteed:

     

    SIGNATURE(S)
      SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS,
      SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
      SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE
      17Ad-15.

     

            _________________

        

    The
      undersigned hereby certifies that the Rights evidenced by this Rights
      Certificate are not beneficially owned by an Acquiring Person or an Affiliate
      or
      Associate thereof (as defined in the Rights Agreement).

     

                        __________________________________________

                        Signature

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    CERTIFICATE

     

    The
      undersigned hereby certifies by checking the appropriate boxes
      that:

     

    (1)           the
      Rights evidenced by this Rights Certificate q are q
      are not being sold,
      assigned, transferred, split up, combined or exchanged by or on behalf of a
      Person who is or was an Acquiring Person or an Affiliate or Associate of any
      such Person (as such terms are defined in the Rights Agreement);
      and

     

    (2)           after
      due inquiry and to the best knowledge of the undersigned, it q did q
      did not acquire the
      Rights evidenced by this Rights Certificate from any Person who is, was or
      became an Acquiring Person or an Affiliate or Associate of an Acquiring
      Person.

     

    Dated:  _________,
      ___________________

     

                        __________________________________________

                        Signature

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Form
      of
      Reverse Side of Rights Certificate – continued

     

    FORM
      OF ELECTION TO PURCHASE

     

    (To
      be
      executed if holder desires to exercise the Rights Certificate)

     

    To
      Charter Communications, Inc.:

     

    The
      undersigned hereby irrevocably elects to exercise ________________ Rights
      represented by this Rights Certificate to purchase the one one-thousandths
      of a
      Preferred Share or other securities issuable upon the exercise of such Rights
      and requests that certificates for such securities be issued in the name of
      and
      delivered to:

     

    Please
      insert social security or other identifying
      number:  _________________________

     

    ______________________________________________________________________________

    (Please
      print name and address)

     

    If
      such
      number of Rights is not all the Rights evidenced by this Rights Certificate,
      a
      new Rights Certificate for the balance remaining of such Rights will be
      registered in the name of and delivered to:

     

    Please
      insert social security or other identifying
      number:  _______________________________

     

    ______________________________________________________________________________

    (Please
      print name and address)

     

     

    Dated:  ___________,
      __________________

     

                        __________________________________________

                        Signature

     

    Signature(s)
      Guaranteed:

     

    SIGNATURE(S)
      SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS,
      SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
      SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE
      17Ad-15.

     

    _________________

     

    The
      undersigned hereby certifies that the Rights evidenced by this Rights
      Certificate are not beneficially owned by an Acquiring Person or an Affiliate
      or
      Associate thereof (as defined in the Rights Agreement).

     

    __________________________________________

     

    Signature

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    CERTIFICATE

     

    The
      undersigned hereby certifies by checking the appropriate boxes
      that:

     

    (1)           the
      Rights evidenced by this Rights Certificate q are q
      are not being exercised
      by or on behalf of a Person who is or was an Acquiring Person or an Affiliate
      or
      Associate of any such Person (as such terms are defined pursuant to the Rights
      Agreement); and

     

    (2)           after
      due inquiry and to the best knowledge of the undersigned, it q did q
      did not acquire the
      Rights evidenced by this Rights Certificate from any Person who is, was, or
      became an Acquiring Person or an Affiliate or Associate of an Acquiring
      Person.

     

    Dated:  ______________,
      _____________

     

                        __________________________________________

                        Signature

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    NOTICE

     

    Signatures
      on the foregoing Form of Assignment and Form of Election to Purchase and in
      the
      related Certificates must correspond to the name as written upon the face of
      this Rights Certificate in every particular, without alteration or enlargement
      or any change whatsoever.

     

    In
      the event the certification set forth above in the Form of Assignment or the
      Form of Election to Purchase, as the case may be, is not completed, the Company
      and the Rights Agent will deem the beneficial owner of the Rights evidenced
      by
      this Rights Certificate to be an Acquiring Person or an Affiliate or Associate
      thereof (as defined in the Rights Agreement) and such assignment or election
      purchase will not be honored.

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      C

     

    SUMMARY
      OF RIGHTS

     

    On
      August
      13, 2007, the Board of Directors (the "Board") of
      Charter Communications, Inc., a Delaware corporation (the
      "Company"), adopted a rights plan and declared a
      dividend of one preferred share purchase right for each outstanding share of
      Class A common stock and Class B common stock.  The dividend is
      payable to our stockholders of record as of August 31, 2007.  The
      terms of the rights and the rights plan are set forth in a Rights Agreement,
      by
      and between us and Mellon Investor Services LLC, a New Jersey limited liability
      company, as Rights Agent, dated as of August 14, 2007 (the "Rights
      Plan").

     

    This
      summary of rights provides only a general description of the Rights Plan, and
      thus, should be read together with the entire Rights Plan, which is incorporated
      into this summary by reference.  All capitalized terms used herein but
      not defined herein shall have the meanings ascribed to such terms in the Rights
      Plan.  Upon written request, Charter will provide a copy of the Rights
      Plan free of charge to any of its stockholders.

     

    Our
      Board
      adopted the Rights Plan in an effort to protect stockholder value by attempting
      to protect against a possible limitation on our ability to use our net operating
      loss carryforwards (the "NOLs") to reduce potential
      future federal income tax obligations.  We have experienced and
      continue to experience substantial operating losses, and under the Internal
      Revenue Code and rules promulgated by the Internal Revenue Service, we may
      "carry forward" these losses in certain circumstances to offset any current
      and
      future earnings and thus reduce our federal income tax liability, subject to
      certain requirements and restrictions.  To the extent that the NOLs do
      not otherwise become limited, we believe that we will be able to carry forward
      a
      substantial amount of NOLs, and therefore these NOLs could be a
      substantial asset to us.  However, if we experience an "Ownership
      Change," as defined in Section 382 of the Internal Revenue Code, our ability
      to
      use the NOLs could be substantially limited, and the timing of the usage of
      the
      NOLs could be substantially delayed, which could therefore significantly impair
      the value of that asset.

     

    The
      Rights Plan is intended to act as a deterrent to any person or group acquiring
      5.0% or more of our outstanding Class A common stock (an "Acquiring
      Person") without the approval of our Board.  The
      holdings of independently managed mutual funds should not be combined for
      purposes of calculating ownership percentages under the Rights
      Plan. Stockholders who own 5.0% or more of our outstanding Class A common
      stock as of the close of business on August 31, 2007 will not trigger the Rights
      Plan so long as they do not acquire any additional shares of Class A common
      stock.  The Rights Plan does not exempt any future acquisitions of
      Class A common stock by such persons. Any rights held by an Acquiring
      Person are void and may not be exercised.  Our Board may, in its sole
      discretion, exempt any person or group from being deemed an Acquiring Person
      for
      purposes of the Rights Plan.

     

    The
      Rights.  Our Board authorized the issuance of one right per each
      outstanding share of our Class A common stock and Class B common stock on August
      31, 2007.  Subject to the terms, provisions and conditions of the
      Rights Plan, if the rights become exercisable, each right would initially
      represent the right to purchase from us one one-thousandth of a share of our
      

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      Series
        B
        Junior Preferred Stock for a purchase price of $25.00.  If issued,
        each fractional share of preferred stock would give the stockholder
        approximately the same dividend and liquidation rights as does one share
        of our
        Class A common stock.  However, prior to exercise, a right does not
        give its holder any rights as a stockholder of the Company, including without
        limitation any dividend, voting or liquidation rights.

    

     

    Exercisability.  The
      rights will not be exercisable until 10 business days after a public
      announcement by us that a person or group has become an Acquiring
      Person.

     

    We
      refer
      to the date that the rights become exercisable as the "Distribution
      Date."  Until the Distribution Date, our Class A common
      stock and Class B common stock certificates will evidence the rights and will
      contain a notation to that effect.  Any transfer of shares of Class A
      common stock and/or Class B common stock prior to the Distribution Date will
      constitute a transfer of the associated rights.  After the
      Distribution Date, no right may be transferred other than in connection with
      the
      transfer of the underlying shares of Class A common stock or Class B common
      stock unless and until our Board has determined, with the consent of a majority
      of the shares of the Class B common stock, not to effect an exchange pursuant
      to
      the Rights Plan (as described below).

     

    
      Exchange.  Except
        as may be determined by the Board, with the consent of a majority of the
        shares
        of Class B common stock, after the Distribution Date, our Board will exchange
        all of the then-outstanding, valid and exercisable rights, except rights
        held by
        any Acquiring Person or any Affiliate, Associate or transferee of any Acquiring
        Person, for 2.5 shares of Class A common stock and/or Class B common stock,
        as
        applicable, or an equivalent security.

       

    

    "Flip-in
      Event."  After the Distribution Date, as
      may be
      determined by the Board, with the consent of a majority of the shares of Class
      B
      Common Stock, all holders of rights, except any Acquiring Person or any
      affiliate, associate or transferee of any Acquiring Person, may exercise their
      rights upon payment of the purchase price to purchase five (5) shares of our
      Class A common stock and/or Class B common stock, as applicable (or other
      securities or assets as determined by our Board) at a 50% discount to the then
      current market price ("Purchase
      Price").  

     

    Rights
      may be exercised to purchase preferred shares only if the Distribution
      Date occurs prior to the occurrence of a Flip-in Event.  However,
      because a Distribution Date would necessarily follow the occurrence of
      a Flip-in Event, the rights could only be exercised for common stock or other
      securities as described above.

     

    
      Upon
        an
        issuance of Class A common stock and/or Class B common stock under the Rights
        Plan, additional membership units will be issued to the Company, as holder
        of
        the Class B common membership units, by Charter Communications Holding Company,
        LLC ("Holdco"), to mirror at Holdco the economic
        effect of such issuance of common stock.  Holders of the Holdco common
        membership units that are convertible into shares of our Class B common stock
        will have equivalent rights which may be exercised, on generally the same
        terms
        and conditions as set forth in the Rights Plan, for additional Holdco common
        membership units.

       

    

          Expiration.  The
      rights and the Rights Plan will expire on the earlier of: (i) a determination
      by
      holders of a majority of the shares of Class B common stock to terminate the
      Rights Plan, (ii) the Close of Business on December 31, 2008, (iii) the Close
      of
      Business on the date on which we make a public announcement (by press release,
      filing made with the Securities 

     

     

    
      
        
        

      

      
        54

        
          

        

      

      
        
        

      

       

       

      and
        Exchange Commission or otherwise) that our Board has determined that the
        Company's Section 382 Ownership Level (as
        defined in the Rights Plan) dropped below 25%, (iv) the time at which the
        rights are redeemed as provided in the Rights Plan, and (v) the time at which
        the rights are exchanged as provided in the Rights Plan.

    

     

    Redemption.  Prior
      to the Expiration Date, our Board may, at its option, redeem all but not less
      than all of the then-outstanding rights at the redemption price of $0.001 per
      right, as such amount may be appropriately adjusted to reflect any stock split,
      stock dividend or similar transaction occurring after the date of the Rights
      Plan at any time prior to the Close of Business on the Distribution
      Date.  Once the rights are redeemed, the right to exercise rights will
      terminate, and the only right of the holders of rights will be to receive the
      redemption price.

     

    Anti-Dilution
      Provisions.  Our Board may adjust the purchase price of the
      preferred shares, the number of preferred shares issuable and the number of
      outstanding rights to prevent dilution that may occur as a result of certain
      events, including among others, a stock dividend, a stock split or a
      reclassification of the preferred shares or our Class A common stock or Class
      B
      common stock.  No adjustments to the purchase price of less than 1%
      will be made.

     

    Amendments.  Before
      the Distribution Date, our Board may amend or supplement the Rights Plan without
      the consent of the holders of the Rights in respect of our Class A common
      stock.  After the Distribution Date, our Board may amend or supplement
      the Rights Plan only to cure an ambiguity, to alter time period provisions,
      to
      correct inconsistent provisions, or to make any additional changes to the Rights
      Plan, but only to the extent that those changes do not impair or adversely
      affect any rights holder and do not result in the rights again becoming
      redeemable.  Notwithstanding the foregoing, the Company and the Rights
      Agent shall not supplement or amend the Rights Plan without the prior approval
      of the holders of a majority of the Class B common stock.

     

    

     

    
      
        
        

      

      
        55

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