Document:

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                                                                     Exhibit 4.3

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE.
THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND
MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND
APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN
FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED
TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS.

                               GENERAL MAGIC, INC.

   WARRANT FOR THE PURCHASE OF SHARES OF SERIES G CONVERTIBLE PREFERRED STOCK

No. 01                                                          up to 500 shares

FOR VALUE RECEIVED, GENERAL MAGIC, INC., a Delaware corporation (the "Company"),
with its principal office at 420 N. Mary Avenue, Sunnyvale, California 94086,
hereby certifies that GENERAL MOTORS CORPORATION, a Delaware corporation (the
"Holder") is entitled, subject to the provisions of this Warrant, to purchase
from the Company at any time or times on or after the date hereof, but not after
5:00 p.m. Pacific Time on the Expiration Date (as defined below) up to Five
Hundred (500) fully paid and nonassessable shares of Series G Convertible
Preferred Stock of the Company (the "Series G Stock"), at an exercise price per
share equal to Ten Thousand Dollars ($10,000.00) (the "Exercise Price").
"Expiration Date" means the earlier of (i) the date three (3) years from the
original date of this Warrant or, if such date falls on a Saturday, Sunday or
other day on which banks are required or authorized to be closed in the State of
California (a "Holiday"), the next preceding date that is not a Holiday, or (ii)
the date the Holder and its Affiliates cease to own at least fifty percent (50%)
of the Series G Stock issued under that certain Series G Preferred Stock and
Warrant Purchase Agreement between the Company and the Holder dated November 9,
1999 (the "Purchase Agreement").

        The number of shares of Series G Stock to be received upon the exercise
of this Warrant and the price to be paid for a share of Series G Stock are
subject to adjustment from time to time as hereinafter set forth. The shares of
Series G Stock deliverable upon such exercise, as adjusted from time to time,
together with the shares of common stock of the Company ("Common Stock")
issuable upon either (i) the net issue exercise of this Warrant pursuant to
Section 1(b) (the "Net Exercise Stock") or (ii) conversion of the Series G Stock
deliverable upon exercise of the Warrant, are hereinafter sometimes referred to
as "Warrant Shares."

<PAGE>   2
        SECTION 1. EXERCISE OF WARRANT; NET ISSUE EXERCISE.

        (a) GENERAL. This Warrant may be exercised in whole or in part on any
business day prior to the Expiration Date by presentation and surrender to the
Company at its principal office at the address set forth in the initial
paragraph hereof (or at such other address as the Company may hereafter notify
the Holder in writing) with the Purchase Form annexed hereto duly executed and
accompanied by proper payment of the Exercise Price in lawful money of the
United States of America in the form of a check, wire transfer of funds, notice
of election of net issue as provided in Section 1(b) below, or cancellation of
indebtedness of the Company to the Holder, subject to collection, for the number
of shares of Series G Stock specified in the Purchase Form. If this Warrant
should be exercised in part only, the Company shall, upon surrender of this
Warrant, execute and deliver a new Warrant evidencing the rights of the Holder
thereof to purchase the balance of the shares of Series G Stock purchasable
hereunder. Upon receipt by the Company of this Warrant and such Purchase Form,
together with proper payment of the Exercise Price, at such office, the Holder
shall be deemed to be the holder of record of such number of shares of Series G
Stock or Net Exercise Stock, notwithstanding that the stock transfer books of
the Company shall then be closed or that certificates representing such Warrant
Shares shall not then be actually delivered to the Holder.

        (b) NET ISSUE EXERCISE. Notwithstanding any provisions herein to the
contrary, if the fair market value of the share(s) of Common Stock into which a
share of Series G Stock is convertible is greater than the Exercise Price (at
the date of exercise), in lieu of exercising this Warrant for cash, the Holder
may elect to receive Common Stock into which the Series G Stock is convertible
equal to the value (as determined below) of this Warrant (or the portion thereof
being canceled) by surrender of this Warrant at the principal office of the
Company together with the properly endorsed Purchase Form and notice of such
election in which event the Company shall issue to the Holder a number of shares
of Common Stock computed using the following formula:

                          Y (A-B/Z)
                      X = ---------
                               A

                      Where

                      X = the number of shares of Common Stock to be issued to
the Holder

                      Y = the number of shares of Common Stock or other capital
stock into which the Series G Stock purchasable under the Warrant is convertible
(at the date of exercise) or, if only a portion of the Warrant is being
exercised, the portion of the Warrant being canceled (at the date of exercise)

                      A = the fair market value of one share of the Company's
Common Stock (at the date of exercise)

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<PAGE>   3

                      B = Exercise Price (as adjusted to the date of exercise)

                      Z = The number of shares of Common Stock into which one
share of Series G Stock is convertible pursuant to the Company's Certificate of
Incorporation as of the date of exercise.

For purposes of the above calculation, current fair market value of Common Stock
shall mean with respect to each share of Common Stock:

               (i) if traded on a national securities exchange or The Nasdaq
               National Market (or similar national quotation system), the fair
               market value shall be deemed to be the closing price (last
               reported sale) on the day the current fair market value of the
               securities is being determined;

               (ii) if traded over-the-counter, the fair market value shall be
               deemed to be the closing bid price quoted on the day the current
               fair market value of the securities is being determined; or

               (iii) if at any time the Common Stock is not traded as described
               in (i) or (ii) above, the current fair market value shall be the
               highest price per share which the Company could obtain from a
               willing buyer (not a current employee or director) for shares of
               Common Stock sold by the Company, from authorized but unissued
               shares, as determined in good faith by its Board of Directors,
               unless the Company shall become subject to a merger, acquisition
               or other consolidation pursuant to which the Company is not the
               surviving party, in which case the fair market value shall be
               deemed to be the value received by the holders of the Company's
               Common Stock on a common equivalent basis pursuant to such merger
               or acquisition.

        SECTION 2. ISSUANCE OF NEW WARRANT. In the event of any exercise of the
rights represented by this Warrant, certificates for the Series G Stock or Net
Exercise Stock so purchased shall be delivered to the holder hereof as soon as
practicable (but not later than ten (10) business days after exercise) and,
unless this Warrant has been fully exercised or has expired, a new Warrant
representing the portion of the Series G Stock, if any, with respect to which
this Warrant shall not then have been exercised shall also be issued to the
holder hereof within a reasonable time (but not later than ten (10) business
days after exercise). Such exercise shall be deemed to have been made
immediately prior to the close of business on the date of surrender of this
Warrant.

        SECTION 3. RESERVATION OF SHARES. The Company hereby agrees that at all
times there shall be reserved for issuance and delivery upon exercise of this
Warrant all shares of its Series G Stock or other shares of capital stock of the
Company from time to time issuable upon exercise of this Warrant. All such
shares shall be duly authorized and, when issued upon such exercise in
accordance with the terms of this Warrant, shall be validly issued, fully paid
and nonassessable.

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        SECTION 4. FRACTIONAL INTEREST. The Company will not issue a fractional
share of Series G Stock or Common Stock upon exercise of this Warrant. Instead,
the Company will deliver its check for the current fair market value of the
fractional share, as determined in good faith by the Board of Directors of the
Company.

        SECTION 5. REPLACEMENT OF WARRANT. Upon receipt of evidence satisfactory
to the Company of the loss, theft, destruction or mutilation of this Warrant,
and (in the case of loss, theft or destruction) of indemnification satisfactory
to the Company, and upon surrender and cancellation of this Warrant, if
mutilated, the Company shall execute and deliver a new Warrant of like tenor and
date.

        SECTION 6. RIGHTS OF THE HOLDER. The holder shall not, by virtue hereof,
be entitled to any rights of a stockholder in the Company, either at law or
equity, and the rights of the holder are limited to those expressed in this
Warrant. Nothing contained in this Warrant shall be construed as conferring upon
the holder hereof the right to vote or to consent or to receive notice as a
stockholder of the Company on any matters or with respect to any rights
whatsoever as a stockholder of the Company. No dividends or interest shall be
payable or accrued in respect of this Warrant or the interest represented hereby
or the Series G Stock purchasable hereunder until, and only to the extent that,
this Warrant shall have been exercised in accordance with its terms.

        SECTION 7. ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF SHARES. The number
and kind of securities purchasable upon the exercise of the Warrant and the
Exercise Price shall be subject to adjustment from time to time upon the
occurrence of certain events, as follows:

               (a) RECLASSIFICATION OF OUTSTANDING SECURITIES. In case of any
reclassification, change or conversion of securities of the class issuable upon
exercise of this Warrant (other than a change in par value, or from par value to
no par value, or from no par value to par value, or as a result of a subdivision
or combination), the Company shall execute a new Warrant (in form and substance
reasonably satisfactory to the holder of this Warrant) providing that the holder
of this Warrant shall have the right to exercise such new Warrant and upon such
exercise to receive, in lieu of each share of Series G Stock theretofore
issuable upon exercise of this Warrant, the kind and amount of shares of stock,
other securities, money and property receivable upon such reclassification or
change by a holder of one share of Series G Stock. Such new Warrant shall
provide for adjustments that shall be as nearly equivalent as may be practicable
to the adjustments provided for in this Section 7. The provisions of this
subsection (a) shall similarly apply to successive reclassification or changes.

               (b) SUBDIVISIONS OR COMBINATION OF SHARES. If the Company at any
time while this Warrant remains outstanding and unexpired shall subdivide or
combine its Series G Stock, the Exercise Price and the number of Series G Stock
issuable upon exercise hereof shall be proportionately adjusted.

               (c) STOCK DIVIDENDS. If the Company at any time while this
Warrant is outstanding and unexpired shall pay a dividend payable in shares of
Series G Stock (except any distribution specifically provided for in the
foregoing subsections (a) and (b)), then the Exercise

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Price shall be adjusted, from and after the date of determination of
stockholders entitled to receive such dividend or distribution, to that price
determined by multiplying the Exercise Price in effect immediately prior to such
date of determination by a fraction (a) the numerator of which shall be the
total number of shares of Series G Stock outstanding immediately prior to such
dividend or distribution, and (b) the denominator of which shall be the total
number of shares of Series G Stock outstanding immediately after such dividend
or distribution and the number of shares of Series G Stock subject to this
Warrant shall be proportionately adjusted.

               (d) NOTICE OF RECORD DATE. In the event of any taking by the
Company of a record of its stockholders for the purpose of determining
stockholders who are entitled to receive payment of any dividend (other than a
cash dividend) or other distribution, any right to subscribe for, purchase or
otherwise acquire any share of any class or any other securities or property, or
to receive any other right, or for the purpose of determining stockholders who
are entitled to vote in connection with any proposed merger or consolidation of
the Company with or into any other corporation, or any proposed sale, lease or
conveyance of all or substantially all of the assets of the Company, or any
proposed liquidation, dissolution or winding up of the Company, the Company
shall mail to the holder of this Warrant, at least ten (10) days prior to the
date specified therein, a notice specifying the date on which any such record is
to be taken for the purpose of such dividend, distribution or right, and the
amount and character of such dividend, distribution or right.

               (e) NO ADJUSTMENT UPON EXERCISE OF WARRANTS. No adjustments shall
be made under any Section herein in connection with the issuance of the Series G
Stock subsequent to exercise of the Warrant.

        SECTION 8. OFFICER'S CERTIFICATE. Whenever the Exercise Price shall be
adjusted as required by the provisions of Section 7, the Company shall deliver
an officer's certificate showing the adjusted Exercise Price determined as
herein provided, setting forth in reasonable detail the facts requiring such
adjustment and the manner of computing such adjustment. Each such officer's
certificate shall be signed by the chairman, chief executive officer, president
or chief financial officer of the Company.

        SECTION 9. MERGERS, CONSOLIDATION, SALES. In the case of any proposed
consolidation or merger of the Company with another entity, or the proposed sale
of all or substantially all of its assets to another person or entity, lawful
and adequate provision shall be made whereby the holder of this Warrant shall
thereafter have the right to receive upon the basis and upon substantially the
terms and conditions specified herein, in lieu of the shares of the Series G
Stock of the Company immediately theretofore purchasable hereunder, such shares
of stock, securities or assets as may (by virtue of such consolidation, merger
or sale) be issued or payable with respect to or in exchange for the number of
shares of such Series G Stock purchasable hereunder immediately before such
consolidation, merger, or sale. In any case appropriate provision shall be made
with respect to the rights and interests of the holder of this Warrant to the
end that the provisions hereof shall thereafter be applicable as nearly as may
be, in relation to any shares of stock, securities or assets thereafter
deliverable upon the exercise of this Warrant.

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<PAGE>   6

        SECTION 10. TRANSFER RESTRICTIONS; REPRESENTATIONS OF HOLDER.

        (a) This Warrant is transferable only to Affiliates of the Holder (as
defined herein) without the written consent of the Company, and to other persons
only with the consent of the Company; provided, however, that any transfer or
assignment shall be subject to the conditions set forth in Section 10(b), and
such transferee shall confirm in writing the representations set forth in
Section 10(b) and shall agree to be bound by the terms of this Warrant. For
purposes hereof, the term Affiliate with respect to the Holder shall mean Saab
Automobile AB and any entity controlled directly or indirectly by Holder, where
"control" means the ownership of more than fifty percent (50%) of the
outstanding voting securities or voting interests of the entity in question.

        (b) This Warrant may not be exercised and neither this Warrant nor any
of the Warrant Shares, nor any interest in either, may be sold, assigned,
pledged, hypothecated, encumbered or in any other manner transferred or disposed
of, in whole or in part, except in compliance with applicable United States
federal and state securities or Blue Sky laws and the terms and conditions
hereof. Each Warrant shall bear a legend in substantially the same form as the
legend set forth on the first page of this Warrant. Each certificate for Warrant
Shares issued upon exercise of this Warrant shall bear a legend substantially in
the following form:

               THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
               THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE
               SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO
               RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE
               TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND
               APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR
               EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE
               AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE
               ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN
               COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

Any certificate for any Warrant Shares issued at any time in exchange or
substitution for any certificate for any Warrant Shares bearing such legend
shall also bear such legend unless, in the opinion of counsel for the Company,
the Warrant Shares represented thereby need no longer be subject to the
restrictions contained herein. The provisions of this Section 10 shall be
binding upon all subsequent holders of certificates for Warrant Shares bearing
the above legend and all subsequent holders of this Warrant, if any. In
addition, in connection with the issuance of this Warrant, the Holder
specifically represents to the Company by acceptance of this Warrant as follows:

               (a) The Holder is aware of the Company's business affairs and
financial condition, and has acquired information about the Company sufficient
to reach an informed and

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knowledgeable decision to acquire this Warrant. The Holder is acquiring this
Warrant (and the underlying Warrant Shares) for its own account for investment
purposes only and not with a view to, or for the resale in connection with, any
"distribution" thereof in violation of the Securities Act of 1933, as amended
(the "Act").

               (b) The Holder understands that neither this Warrant nor the
Warrant Shares have been registered under the Act in reliance upon a specific
exemption therefrom, which exemption depends upon, among other things, the bona
fide nature of the Holder's investment intent as expressed herein.

               (c) The Holder further understands that this Warrant (and the
Warrant Shares) must be held indefinitely unless subsequently registered under
the Act and qualified under any applicable state securities laws, or unless
exemptions from registration and qualification are otherwise available.
Moreover, the Holder understands that the Company is under no obligation to
register and qualify this Warrant.

               (d) The Holder is aware of the provisions of Rule 144 promulgated
under the Act, which, in substance, permit limited public resale of "restricted
securities" acquired, directly or indirectly, from the issuer thereof (or from
an affiliate of such issuer), in a non-public offering subject to the
satisfaction of certain conditions, if applicable, including, among other
things: the availability of certain public information about the Company, the
resale occurring not less than one year after the party has purchased and paid
for the securities to be sold; and the sale being made through a broker in an
unsolicited "broker's transaction" or in transactions directly with a market
maker (as said term is defined under the Securities Exchange Act of 1934, as
amended).

               (e) The Holder further understands that at the time Holder wishes
to sell the Warrant Shares there may be no public market upon which to make such
a sale, and that, except as set forth in the Purchase Agreement and related
Registration Rights Agreement, the Company is under no obligation to register
the Warrant Shares.

               (f) The Holder further understands that in the event all of the
requirements of Rule 144 are not satisfied, registration under the Act,
compliance with Regulation A, or some other registration exemption will be
required; and that, notwithstanding the fact that Rule 144 is not exclusive, the
staff of the Securities and Exchange Commission has expressed its opinion that
persons proposing to sell private placement securities other than in a
registered offering and otherwise than pursuant to Rule 144 will have a
substantial burden of proof in establishing that an exemption from registration
is available for such offers or sales, and that such persons and their
respective brokers who participate in such transactions do so at their own risk.

        SECTION 12. GOVERNING LAW. This Warrant is delivered in the State of
California and shall be construed in accordance with and governed by the laws of
that State, without regard to its conflicts of laws principles.

        SECTION 13. MODIFICATION AND WAIVER. Neither this Warrant nor any term
hereof may be amended, waived, discharged or terminated other than by an
instrument in writing signed by the Company and by the holder hereof.

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        SECTION 14. NOTICES. Any notice, request or other document required or
permitted to be given or delivered to the holder hereof or the Company shall be
delivered or shall be sent by certified mail, confirmed facsimile or personal
delivery, to the holder at the holder's address as shown on the books of the
Company or to the Company at the address indicated therefor in the first
paragraph of this Warrant or such other address as the Company shall have
notified the holder.

        SECTION 15. DESCRIPTIVE HEADINGS. The descriptive headings of the
several sections and paragraphs of this Warrant are inserted for convenience
only and do not constitute a part of this Warrant.

        SECTION 16. ENTIRE AGREEMENT. This Warrant, together with the Purchase
Agreement and the documents delivered pursuant thereto, constitutes the entire
agreement between the parties pertaining to the subject matter herein and
supersedes all prior and contemporaneous agreements, representations and
undertakings of the parties.

        IN WITNESS WHEREOF, the Company has duly caused this Warrant to be
signed by its duly authorized officer and to be dated as of November , 1999.

                                        GENERAL MAGIC, INC.

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

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                                  PURCHASE FORM

        The undersigned, the holder of the within Warrant, hereby irrevocably
elects to exercise the purchase right represented by such Warrant for, and to
purchase thereunder, _________________ (_________)(1) shares of Series G
Preferred Stock of GENERAL MAGIC, INC. and herewith [makes payment of
_________________________________ Dollars ($________) therefor] [elects a Net
Issue Exercise pursuant to the provision of Section 1 of the within Warrant for
_________ shares of Common Stock (as calculated in accordance with the terms
therewith)], and requests that the certificates for such shares be issued in the
name of, and delivered to, __________________________________________, whose
address is _______________________________________________________________.

        The undersigned represents that it is acquiring such shares for its own
account for investment and not with a view to or for sale in connection with any
distribution thereof (subject, however, to any requirement of law that the
disposition thereof shall at all times be within its control).

Dated: ______________

                                                 (Signature must conform in all
                                                  respects to name of holder)

                                               By:
                                                  ------------------------------
                                               Title:
                                                     ---------------------------

--------

(1) Insert here the number of shares called for on the face of the Warrant (or,
in the case of a partial exercise, the portion thereof as to which the Warrant
is being exercised), in either case without making any adjustment for additional
Warrant Shares or any other stock or the adjustment provisions of the Warrant,
which may be deliverable upon exercise.<PAGE>   1
                                                                     EXHIBIT 4.4

                         REGISTRATION RIGHTS AGREEMENT

THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") is made and entered into
as of the 9th day of November, 1999, by and between General Magic, Inc., a
Delaware corporation (the "Company"), and General Motors Corporation, a Delaware
corporation, by and through its OnStar division (the "Purchaser").

                                    RECITALS

        A. The Company has agreed, upon the terms and subject to the conditions
of the Series G Preferred Stock and Warrant Purchase Agreement (the "Preferred
Stock Purchase Agreement"), to issue and sell to Purchaser (i) shares of the
Company's Series G Convertible Preferred Stock (the "Series G Stock"), which
will be convertible into shares of the Company's common stock, par value $0.001
per share (the "Common Stock"), in accordance with the terms of the Company's
Certificate of Designations, Preferences and Rights of Series G Convertible
Preferred Stock (the "Certificate of Designations"); and (ii) a warrant to
acquire up to 500 additional shares of the Company's Series G Stock (the
"Warrant").

        B. To induce the Purchaser to execute and deliver the Preferred Stock
Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended (the "Securities Act"), and
the rules and regulations promulgated thereunder, as well as applicable state
securities laws.

        NOW, THEREFORE, the parties hereto agree as follows:

                                    AGREEMENT

        1.     Registration Rights.

               1.1    Definitions. For purposes of this Section 1:

                      (a) Registration. The terms "REGISTER," "REGISTERED," and
"REGISTRATION" refer to a registration effected by preparing and filing a
registration statement in compliance with the Securities Act, and the
declaration or ordering of the effectiveness of such registration statement by
the U.S. Securities and Exchange Commission (the "SEC").

                      (b) Registrable Securities. The term "REGISTRABLE
SECURITIES" means: (1) all the shares of Common Stock of the Company issued or
issuable upon the conversion of any shares of Series G Stock issued pursuant to
the Preferred Stock Purchase Agreement or upon exercise of the Warrant
(collectively, the "Conversion Shares"); (2) all shares of Common Stock issued
or issuable with respect to the Conversion Shares, the Series G Stock or the
Warrant as a result of any stock split, stock dividend, recapitalization,
exchange or similar event; provided, however, that

<PAGE>   2

notwithstanding Section 2.2 below, such shares of Common Stock shall no longer
be treated as Registrable Securities after they have been sold to or through a
broker or dealer or underwriter in a public distribution or a public securities
transaction, whether in a registered offering, pursuant to Rule 144 or
otherwise, and whether or not sold to an Affiliate (as defined in Section 2.2
below).

               1.2    Demand Registration.

                      (a) Request for Registration. If the Company shall receive
at any time a written request from Purchaser that the Company effect a
registration with respect to Registrable Securities pursuant to this Section 1.2
(a "REGISTRATION REQUEST"), then the Company shall, within ten (10) business
days of the receipt of such Registration Request, give written acknowledgment
thereof ("REQUEST ACKNOWLEDGMENT") to Purchaser, and effect, as soon as
practicable thereafter, but in no event later than sixty (60) days following
receipt by Purchaser of the Request Acknowledgment, such registration; provided,
however, that the Company shall not be obligated to take any action to effect
any such registration: (i) in any particular jurisdiction in which the Company
would be required to execute a general consent to service of process in
effecting such registration, unless the Company is already subject to service in
such jurisdiction; (ii) unless the Registrable Securities sought to be
registered by Purchaser comprise at least forty percent (40%) of all Registrable
Securities then held by Purchaser (including all Registrable Securities issuable
pursuant to the exercise or conversion of any warrant, right or other security)
or have an anticipated aggregate public offering price (after any underwriting
discounts and commissions) of $5,000,000; or (iii) after the Company has
effected two such registrations pursuant to this Section 1.2.

                      (b) Underwriting. If Purchaser initiates the registration
request under this Section 1.2 and intends to distribute the Registrable
Securities covered by its request by means of an underwriting, then Purchaser
shall so advise the Company as a part of its request made pursuant to this
Section 1.2 and the Company shall include such information in the written notice
referred to in subsection 1.2(a). In such event, the right of Purchaser to
include its Registrable Securities in such registration shall be conditioned
upon Purchaser's participation in such underwriting and the inclusion of
Purchaser's Registrable Securities in the underwriting to the extent provided
herein. If Purchaser proposes to distribute its Registrable Securities through
such underwriting, it shall enter into an underwriting agreement in customary
form with the managing underwriter or underwriters selected for such
underwriting by the Company and approved by Purchaser, which approval shall not
be unreasonably withheld. Any Registrable Securities excluded or withdrawn from
such underwriting shall be excluded and withdrawn from the registration.

                      (c) Delay. If the Company shall furnish to Purchaser a
certificate signed by the President of the Company stating that, in the good
faith judgment of the Board of Directors of the Company, the filing of a
registration statement pursuant to this Section 1.2 would (i) require disclosure
of material information the Company has a bona fide business purpose of
retaining as confidential or (ii) have a

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material adverse effect on the Company or its shareholders, in relation to any
financing, acquisition, corporate reorganization or other material transaction
contemplated by the Board of Directors of the Company, involving the Company or
any of its affiliates, in each case as determined by the Company, then the
Company may direct that the filing of a registration statement be delayed for a
period not in excess of one hundred twenty (120) days, but may only exercise
this right once within any twelve (12 ) month period.

               1.3 Piggyback Registrations. The Company shall notify Purchaser
in writing at least fifteen (15) business days prior to filing any registration
statement under the Securities Act for purposes of effecting a public offering
of securities of the Company (including, but not limited to, registration
statements relating to a secondary offering of securities of the Company, and
registration statements relating to any registration under Section 1.2 of this
Agreement, but excluding registration statements relating to any employee
benefit plan or a transaction under Rule 145 of the Securities Act) and will
afford Purchaser an opportunity to include in such registration statement all or
any part of the Registrable Securities then held by Purchaser. If Purchaser
desires to include in any such registration statement all or any part of its
Registrable Securities, Purchaser shall, within ten (10) business days after
receipt of the above-described notice from the Company, so notify the Company in
writing, and in such notice shall inform the Company of the number of
Registrable Securities Purchaser wishes to include in such registration
statement. If Purchaser decides not to include all of its Registrable Securities
in any registration statement thereafter filed by the Company, Purchaser shall
nevertheless continue to have the right to include any Registrable Securities in
any subsequent registration statement or registration statements as may be filed
by the Company with respect to offerings of its securities, all upon the terms
and conditions set forth herein. An election by Purchaser to include Registrable
Securities in any registration statement pursuant to this Section 1.3 shall not
under any circumstances constitute a request for registration by Purchaser under
Section 1.2 hereof.

        If a registration statement under which the Company gives notice under
this Section 1.3 is for an underwritten offering, then the Company shall so
advise Purchaser. In such event, the right of Purchaser to be included in a
registration pursuant to this Section 1.3 shall be conditioned upon Purchaser's
participation in such underwriting, and the inclusion of Purchaser's Registrable
Securities in the underwriting to the extent provided herein. If Purchaser
proposes to distribute its Registrable Securities through such underwriting,
Purchaser shall enter into an underwriting agreement in customary form with the
managing underwriter or underwriter(s) selected for such underwriting.
Notwithstanding any other provision of this Agreement, if the managing
underwriter determines in good faith that marketing factors require a limitation
of the number of shares to be underwritten, then the managing underwriter(s) may
exclude shares (including Registrable Securities) from the registration and the
underwriting, and the number of shares that may be included in the registration
and the underwriting shall be allocated, first, to the Company or other party
for whom the registration is being effected, second, to Purchaser and to other
holders of securities of the Company with piggyback registration rights on a pro
rata basis based on the total number of registrable securities then held by
Purchaser and such other holders, and third, to such persons as the Board of

                                        3
<PAGE>   4

Directors of the Company may approve. If Purchaser disapproves of the terms of
any such underwriting, Purchaser may elect to withdraw therefrom by written
notice to the Company and the underwriter. Any Registrable Securities excluded
or withdrawn from such underwriting shall be excluded and withdrawn from the
registration.

        The Company shall have the right to terminate or withdraw any
registration initiated by it under this Section 1.3 prior to the effectiveness
of such registration, whether or not Purchaser has elected to include
Registrable Securities in such registration.

               1.4 Form S-3 Registration . In case the Company shall receive
from Purchaser a written request that the Company effect a registration on Form
S-3 with respect to all or a part of the Registrable Securities owned by
Purchaser, then the Company will, as soon as reasonably practicable, effect such
registration on Form S-3 as may be so requested and as would permit or
facilitate the sale and distribution of all or such portion of Purchaser's
Registrable Securities as are specified in such request; provided, however, that
the Company shall not be obligated to effect any such registration,
qualification or compliance pursuant to this Section 1.4:

                      (i) if Form S-3 is not available for such offering by
Purchaser;

                      (ii) if the aggregate value of the Registrable Securities
proposed to be sold by Purchaser in such offering is less than $1,000,000;

                      (iii) if the Company shall furnish to Purchaser a
certificate signed by the President or Chief Executive Officer of the Company
stating that, in the good faith judgment of the Board of Directors of the
Company, it would be seriously detrimental to the Company and its stockholders
for such Form S-3 registration to be effected at such time, in which event the
Company shall have the right to defer the filing of the Form S-3 registration
statement no more than once during any twelve month period for a period of not
more than one hundred twenty (120) days after receipt of the request of
Purchaser under this Section 1.4;

                      (iv) if the Company has, within the twelve (12) month
period preceding the date of such request, already effected two (2)
registrations pursuant to Section 1.2 and 1.4; or

                      (v) in any particular jurisdiction in which the Company
would be required to qualify to do business or to execute a general consent to
service of process in effecting such registration, qualification or compliance.

        Only one (1) Form S-3 registration shall be deemed to be a demand
registration as described in Section 1.2 above.

                                        4
<PAGE>   5

               1.5 Obligations of the Company.

                      (a) Expenses. All expenses incurred in connection with all
registrations pursuant to Sections 1.2, 1.3 and 1.4, including without
limitation all registration and qualification fees, printers' and accounting
fees, fees and disbursements of counsel for the Company (but excluding
underwriters' and brokers' discounts and commissions and fees and disbursements
of counsel for Purchaser), shall be borne by the Company; provided, however,
that Purchaser shall bear all expenses incurred in connection with any
registration requested pursuant to Section 1.2 or 1.4 within six months after
the date of this Agreement. Purchaser shall bear its proportionate share (based
on the total number of shares sold in such registration other than for the
account of the Company) of all underwriting discounts or commissions payable to
underwriters or brokers in connection with such offerings.

                      (b) Registration. Whenever required to effect the
registration of any Registrable Securities under this Agreement, the Company
shall, as expeditiously as reasonably possible:

                             (i) Prepare and file with the SEC a registration
statement with respect to such Registrable Securities, use its best efforts to
cause such registration statement to become effective and, upon the request of
Purchaser, keep such registration statement effective for up to ninety (90) days
plus any additional periods represented by any "Black-Out Period" (as defined in
the last paragraph of Section 1.5(b) below) or until the distribution described
in the registration statement has been completed.

                             (ii) Prepare and file with the SEC such amendments
and supplements to such registration statement and the prospectus used in
connection with such registration statement as the Company may determine to be
necessary to comply with the provisions of the Securities Act with respect to
the disposition of all securities covered by such registration statement.

                             (iii) Furnish to Purchaser such number of copies of
a prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents as it may
reasonably request in order to facilitate the disposition of the Registrable
Securities owned by it and included in such registration.

                             (iv) Use its best efforts to register and qualify
the securities covered by such registration statement under such other
securities or blue sky laws of such jurisdictions as shall be reasonably
requested by Purchaser, provided that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to
file a general consent to service of process in any such states or
jurisdictions.

                                        5
<PAGE>   6

                             (v) In the event of any underwritten public
offering, enter into and perform its obligations under an underwriting
agreement, in usual and customary form, with the managing underwriter(s) of such
offering. Purchaser shall also enter into and perform its obligations under such
an agreement.

                             (vi) Notify Purchaser at any time when a prospectus
relating to the Registrable Securities is required to be delivered under the
Securities Act, of the happening of any event as a result of which the
prospectus included in such registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact
necessary, in light of the circumstances under which made, to make the
statements therein not misleading, and, at the request of Purchaser, the Company
will promptly prepare and provide to it a supplement or amendment to such
prospectus so that, as thereafter delivered to the purchasers of Purchaser's
Registrable Securities, such prospectus will not contain an untrue statement of
a material fact or omit to state any material fact necessary, in light of the
circumstances under which made, to make the statements therein not misleading.

                             (vii) Furnish, at the reasonable request of
Purchaser, on the date that its Registrable Securities are delivered to the
underwriters for sale, if such securities are being sold through underwriters,
or, if such securities are not being sold through underwriters, on the date that
the registration statement with respect to such securities becomes effective,
(i) an opinion, dated as of such date, of the counsel representing the Company
for the purposes of such registration, in form and substance as is customarily
given to underwriters in an underwritten public offering and reasonably
satisfactory to Purchaser, addressed to the underwriters, if any, and to
Purchaser, and (ii) a "comfort" letter dated as of such date, from the
independent certified public accountants of the Company, in form and substance
as is customarily given by independent certified public accountants to
underwriters in an underwritten public offering and reasonably satisfactory to
Purchaser, addressed to the underwriters, if any, and to Purchaser.

                             (viii) Purchaser agrees that if the Company has
delivered preliminary or final prospectuses to Purchaser and after having done
so (a) the Company determines that the prospectus needs to be amended or
supplemented to comply with the requirements of the Securities Act, (b) a stop
order suspending the effectiveness of the registration statement is issued by
the SEC or (c) the Company shall, in good faith and for business reasons, enter
into negotiations relating to or otherwise commence a material business
transaction, including, without limitation, the acquisition or divestiture of
assets or the offering or sale of securities, then the Company shall promptly
notify Purchaser and Purchaser shall immediately cease making offers and sales
of Registrable Securities and return all remaining prospectuses to the Company.
Following such amendment or supplement, the lifting of any stop order or the
completion or termination of any material transaction, the Company shall
promptly provide Purchaser with revised prospectuses, and, following receipt of
the revised prospectuses, Purchaser shall be free to resume making offers of the
Registrable Securities, or any portion thereof. The period during which the
Company exercises its rights as described in this paragraph to postpone, delay
or interrupt the offer and sale of the Registrable Securities or during the
pendency of any

                                        6
<PAGE>   7

stop order, injunction or other order or requirement of the SEC or any other
governmental agency or court shall be referred to herein as the "BLACK-OUT
PERIOD."

               1.6 Furnish Information. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to Sections 1.2, 1.3 or
1.4 that Purchaser shall furnish to the Company such information regarding
itself, the Registrable Securities held by it, and the intended method of
disposition of such securities and such other information as the Company may
reasonably request to timely effect the registration of its Registrable
Securities.

               1.7 Indemnification. In the event any Registrable Securities are
included in a registration statement under Sections 1.2, 1.3 or 1.4:

                      (a) By the Company. The Company agrees to indemnify and
hold harmless Purchaser, each of its directors and officers, any underwriters
(as defined in the Securities Act) for the Purchaser and each person, if any,
who controls Purchaser within the meaning of the Securities Act, against any
losses, claims, damages, liabilities or expenses to which Purchaser or such
officer or director, underwriter or controlling person may become subject, under
the Securities Act, the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or any other federal or state statutory law or regulation, or
at common law or otherwise (including in settlement of any litigation, if such
settlement is effected with the written consent of the Company), insofar as such
losses, claims, damages, liabilities or expenses (or actions in respect thereof
as contemplated below) arise out of or are based upon (i) any untrue statement
or alleged untrue statement of any material fact contained in the registration
statement, including the prospectus, financial statements and schedules, and all
other documents filed as a part thereof or incorporated by reference therein, as
amended at the time of effectiveness of the registration statement, including
any information deemed to be a part thereof as of the time of the effectiveness
pursuant to paragraph (b) of Rule 430A, or pursuant to Rule 434 of the rules and
regulations, or the prospectus, in the form first filed with the SEC pursuant to
Rule 424(b) of the regulations, or filed as part of the registration statement
at the time of effectiveness if no Rule 424(b) filing is required (the
"Prospectus"), or any amendment or supplement thereto, (ii) the omission or
alleged omission to state in any of them a material fact required to be stated
therein or necessary to make the statements in any of them not misleading, or
(iii) any violation or alleged violation by the Company of the Securities Act,
the Exchange Act or any federal or state securities law in connection with the
offering covered by such registration statement (the matters in the foregoing
clauses (i) through (iii) being, collectively, "Violations"), and will reimburse
Purchaser and each such officer or director, underwriter or controlling person
for any legal and other expenses as such expenses are reasonably incurred by
Purchaser or such controlling person in connection with investigating,
defending, settling, compromising or paying any such loss, claim, damage,
liability, expense or action; provided, however, that the Company will not be
liable in any such case to the extent that any such loss, claim, damage,
liability or expense arises out of or is based upon (i) an untrue statement or
alleged untrue statement or omission or alleged omission made in the
registration statement, the Prospectus or any amendment or supplement thereto in
reliance upon and

                                        7
<PAGE>   8

in conformity with written information furnished to the Company by or on behalf
of Purchaser expressly for use therein, (ii) the failure of Purchaser to comply
with the covenants and agreements contained in this Agreement respecting the
sale of the Registrable Securities, (iii) the inaccuracy of any representations
made by Purchaser herein, or (iv) any statement or omission in any Prospectus
that is corrected in any subsequent Prospectus that was delivered to Purchaser
prior to the pertinent sale or sales by Purchaser.

                      (b) By Purchaser. Purchaser will indemnify and hold
harmless the Company, each of its directors, each of its officers who signed the
registration statement and each person, if any, who controls the Company within
the meaning of the Securities Act, against any losses, claims, damages,
liabilities or expenses to which the Company, each of its directors, each of its
officers who signed the registration statement or controlling person may become
subject, under the Securities Act, the Exchange Act, or any other federal or
state statutory law or regulation, or at common law or otherwise (including in
settlement of any litigation, if such settlement is effected with the written
consent of Purchaser) insofar as such losses, claims, damages, liabilities or
expenses (or actions in respect thereof as contemplated below) arise out of or
are based upon any Violation, in each case to the extent, but only to the
extent, that such Violation occurs in reliance upon and in conformity with
written information furnished to the Company by or on behalf of any Purchaser
expressly for use therein, and will reimburse the Company, each of its
directors, each of its officers who signed the registration statement or
controlling person for any legal and other expenses reasonably incurred by the
Company, each of its directors, each of its officers who signed the registration
statement or controlling person in connection with investigating, defending,
settling, compromising or paying any such loss, claim, damage, liability,
expense or action.

                      (c) Notice. Promptly after receipt by an indemnified party
under this Section 1.7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be made against an
indemnifying party under this Section 1.7, notify the indemnifying party in
writing of the commencement thereof; but the omission so to notify the
indemnifying party will not relieve it from any liability which it may have to
any indemnified party for contribution or otherwise than under the indemnity
agreement contained in this Section 1.7 or to the extent it is not prejudiced as
a proximate result of such failure. In case any such action is brought against
any indemnified party and such indemnified party seeks or intends to seek
indemnity from an indemnifying party, the indemnifying party will be entitled to
participate in, and, to the extent that it may wish, jointly with all other
indemnifying parties similarly notified, to assume the defense thereof with
counsel reasonably satisfactory to such indemnified party; provided, however, if
the defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded
that there may be a conflict between the positions of the indemnifying party and
the indemnified party in conducting the defense of any such action or that there
may be legal defenses available to it and/or other indemnified parties which are
different from or additional to those available to the indemnifying party, the
indemnified party or parties shall have the right to select separate counsel to
assume such

                                        8
<PAGE>   9

legal defenses and to otherwise participate in the defense of such action on
behalf of such indemnified party or parties. Upon receipt of notice from the
indemnifying party to such indemnified party of its election so to assume the
defense of such action and approval by the indemnified party of counsel, the
indemnifying party will not be liable to such indemnified party under this
Section 1.7 for any legal or other expenses subsequently incurred by such
indemnified party in connection with the defense thereof unless (i) the
indemnified party shall have employed such counsel in connection with the
assumption of legal defenses in accordance with the proviso to the preceding
sentence (it being understood, however, that the indemnifying party shall not be
liable for the expenses of more than one separate counsel, approved by such
indemnifying party in the case of paragraph (a), representing the indemnified
parties who are parties to such action) or (ii) the indemnifying party shall not
have employed counsel reasonably satisfactory to the indemnified party to
represent the indemnified party within a reasonable time after notice of
commencement of action, in each of which cases the fees and expenses of counsel
shall be at the expense of the indemnifying party.

                      (d) Limitation. The foregoing indemnity agreements of the
Company and Purchaser are subject to the condition that, insofar as they relate
to the bases for any losses, claims, damages, liabilities or expenses
contemplated in Section 1.7(a) arising out of the preparation and filing of the
preliminary prospectus but eliminated or remedied in the amended prospectus on
file with the SEC at the time the registration statement in question becomes
effective or in the amended prospectus filed with the SEC pursuant to SEC Rule
424(b) (the "Final Prospectus"), such indemnity agreement shall not inure to the
benefit of any person if a copy of the Final Prospectus was furnished to the
indemnified party and was not furnished to the person asserting the loss,
liability, claim or damage at or prior to the time such action is required by
the Securities Act.

                      (e) Contribution. If the indemnification provided for in
this Section 1.7 is required by its terms but is for any reason held to be
unavailable to or otherwise insufficient to hold harmless an indemnified party
under paragraphs (a), (b) or (c) of this Section 1.7 in respect to any losses,
claims, damages, liabilities or expenses referred to herein, then each
applicable indemnifying party shall contribute to the amount paid or payable by
such indemnified party as a result of any losses, claims, damages, liabilities
or expenses referred to herein in such proportion as is appropriate to reflect
the relative fault of the Company and Purchaser in connection with the
statements or omissions or inaccuracies in the representations and warranties in
this Agreement which resulted in such losses, claims, damages, liabilities or
expenses, as well as any other relevant equitable considerations. The relative
fault of the Company and Purchaser shall be determined by reference to, among
other things, whether the untrue or alleged misstatement of a material fact or
the omission or alleged omission to state a material fact or the inaccurate or
the alleged inaccurate representation and/or warranty relates to information
supplied by the Company or by Purchaser and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The amount paid or payable by a party as a result of the
losses, claims, damages, liabilities and expenses referred to above shall be
deemed to include, subject to

                                        9
<PAGE>   10

the limitations set forth in Section 1.7(c) any legal or other fees or expenses
reasonably incurred by such party in connection with investigating or defending
any action or claim. The provisions set forth in Section 1.7(c) with respect to
notice of commencement of any action shall apply if a claim for contribution is
to be made under this paragraph (d); provided, however, that no additional
notice shall be required with respect to any action for which notice has been
give under Section 1.7(c) for purposes of indemnification. The Company and
Purchaser agree that it would not be just and equitable if contribution pursuant
to this Section 1.7(d) were determined solely by pro rata allocation (even if
Purchaser were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred
to in this paragraph. Notwithstanding the provisions of this Section 1.7(d),
Purchaser shall not be required to contribute any amount in excess of the amount
by which the amount paid by Purchaser for the Registrable Securities that were
sold pursuant to the registration statement and the amount received by Purchaser
from such sale exceeds the amount of any damages that Purchaser has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation.

                      (f) Survival. The obligations of the Company and the
Purchaser under this Section 1.7 shall survive the completion of any offering of
Registrable Securities in a registration statement, and otherwise.

               1.8 Rule 144 Reporting. With a view to making available the
benefits of certain rules and regulations of the SEC, which may at any time
permit the sale of the Registrable Securities to the public without
registration, the Company agrees to:

                      (a) Make and keep public information available, as those
terms are understood and defined in Rule 144 under the Securities Act, at all
times after the date hereof;

                      (b) Use its best efforts to file with the SEC in a timely
manner all reports and other documents required of the Company under the
Securities Act and the Exchange Act; and

                      (c) So long as Purchaser owns any Registrable Securities,
to furnish to Purchaser forthwith upon request (i) a written statement by the
Company as to its compliance with the reporting requirements of said Rule 144,
and of the Securities Act and the Exchange Act, (ii) a copy of the most recent
annual or quarterly report of the Company, and (iii) such other reports and
documents of the Company as Purchaser may reasonably request in availing itself
of any rule or regulation of the Commission allowing Purchaser to sell any such
securities without registration.

                                       10
<PAGE>   11

        2.     Transfer and Assignment; Term.

               2.1 Transfer and Assignment. Purchaser may not sell or otherwise
transfer or assign any shares of Series G Preferred, or any voting or other
rights therein, to any person or entity except (i) with the prior written
consent of the Company, or (ii) to an Affiliate of Purchaser (as defined below)
pursuant to the terms of this Agreement. Subject to the provisions of Section
2.2, this provision shall not effect the Purchaser's right to transfer
Conversion Shares.

               2.2 Transfer of Rights. Notwithstanding anything herein to the
contrary, the registration rights of Purchaser under Section 1 hereof may be
assigned only (i) with the prior written consent of the Company; or (ii) to an
Affiliate of Purchaser, with such rights being exercisable only for so long as
such entity remains an Affiliate of Purchaser; provided, however that no entity
may be assigned any of the foregoing rights unless the Company is given written
notice by the assigning entity at the time of such assignment stating the name
and address of the assignee and identifying the securities of the Company as to
which the rights in question are being assigned; and provided further that any
such assignee shall receive such assigned rights subject to all the terms and
conditions of this Agreement, including without limitation the provisions of
this Section 2. For the purpose of this Agreement, the term Affiliate with
respect to Purchaser shall mean Saab Automobile AB and any entity controlled
directly or indirectly by General Motors Corporation, where "control" means the
ownership of more than fifty percent (50%) of the outstanding voting securities
or voting interests of the entity in question.

               2.3 Term. Subject to Section 1.7(f), the Company's obligations
under this Agreement shall terminate on the tenth anniversary of the Closing as
defined in the Preferred Stock Purchase Agreement.

        3.     General Provisions.

               3.1 Assignment. Except as provided in Section 2 above, no party
to this Agreement may assign, by operation of law or otherwise, all or any
portion of its rights, obligations or liabilities under this Agreement.

               3.2 Third Parties. Nothing in this Agreement, express or implied,
is intended to confer upon any person, other than the parties hereto and their
successors and permitted assigns, any rights or remedies under or by reason of
this Agreement.

               3.3 Governing Law. This Agreement shall be governed by and
construed under the internal laws of the State of Delaware as applied to
agreements among Delaware residents entered into and to be performed entirely
within Delaware, without reference to principles of conflict of laws or choice
of laws.

               3.4 Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                                       11
<PAGE>   12

               3.5 Headings. The headings and captions used in this Agreement
are used for convenience only and are not to be considered in construing or
interpreting this Agreement. All references in this Agreement to sections,
paragraphs, exhibits and schedules shall, unless otherwise provided, refer to
sections and paragraphs hereof and exhibits and schedules attached hereto, all
of which exhibits and schedules are incorporated herein by this reference.

               3.6 Notices. All notices and other communications required or
permitted hereunder shall be in writing and shall be deemed effectively given
and received (a) upon personal delivery, (b) on the fifth day following mailing
by registered or certified mail, return receipt requested, postage prepaid,
addressed to the Company or to Purchaser, as the case may be, at their
respective addresses set forth below, (c), upon transmission of telegram or
facsimile (with telephonic notice), or (d) upon confirmed delivery by overnight
commercial courier service.

            If to Purchaser:           OnStar
                                       888 West Big Beaver Avenue, Suite 200
                                       Troy, Michigan 48084
                                       Attention: Fred H. Cooke
                                       Telephone: 248-269-1311
                                       Facsimile: 248-269-1549

            With a copy to:            General Motors Legal Staff
                                       New Center One Building
                                       Mail Code: 482-208-835
                                       3031 West Grand Boulevard
                                       Detroit, Michigan  48202
                                       Attention: Kimberly K. Hudolin, Esq.
                                       Telephone: 313-974-1950
                                       Facsimile: 313-974-0685

            If to General Magic:       General Magic, Inc.
                                       420 N. Mary Avenue
                                       Sunnyvale, CA  94086
                                       Attention: General Counsel
                                       Telephone: (408) 774-4235
                                       Facsimile: (408) 774-4023

            With a copy to:            Cooley Godward
                                       Five Palo Alto Square
                                       Palo Alto, CA  94306
                                       Attention: Timothy J. Moore, Esq.
                                       Telephone: (650) 843-5000
                                       Facsimile: (650) 857-0663

                                       12
<PAGE>   13

Such addresses may be changed, from time to time, by means of a notice given in
the manner provided in this Section 3.6.

               3.7 Attorneys' Fees. If any action at law or in equity is
necessary to enforce or interpret the terms of this Agreement, the prevailing
party shall be entitled to recover its reasonable attorneys' fees, experts' fees
and costs, including those for pretrial, trial, on appeal, in arbitration and in
bankruptcy and all other costs and necessary disbursements associated with any
such actions, in addition to any other relief to which such party may be
entitled.

               3.8 Adjustments for Stock Splits, Etc. Wherever in this Agreement
there is a reference to a specific number of shares of Common Stock or preferred
stock of the Company of any class or series, then, upon the occurrence of any
subdivision, combination or stock dividend of such class or series of stock, the
specific number of shares so referenced in this Agreement shall automatically be
proportionally adjusted to reflect the affect on the outstanding shares of such
class or series of stock by such subdivision, combination or stock dividend.

               3.9 Aggregation of Stock. All shares held or acquired by the
Purchaser and its Affiliates shall be aggregated together for the purpose of
determining the availability of any rights under this Agreement.

               3.10 Amendments and Waivers. Any term of this Agreement may be
amended and the observance of any provision of this Agreement may be waived
(either generally or in a particular instance and either retroactively or
prospectively), only with the written consent of the Company and the holder of
at least a majority of the Registrable Securities. Any amendment or waiver
effected in accordance with this Section 3.10 shall be binding upon Purchaser
and the Company. No waiver of any of the provisions of this Agreement shall be
deemed to be or shall constitute a waiver of any other provisions hereof,
whether or not similar, nor shall any such waiver constitute a continuing
waiver.

               3.11 Severability. Whenever possible, each provision of this
Agreement will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be prohibited
by or invalid under applicable law, such provision will be ineffective only to
the extent of such prohibition or invalidity, without invalidating the remainder
of this Agreement. In the event of such invalidity, the parties shall seek to
agree on an alternative enforceable provision that preserves the original
purpose of this Agreement.

               3.12 Entire Agreement. This Agreement, the Preferred Stock
Purchase Agreement, the Certificate of Designations and the Warrant constitute
the entire agreement and understanding of the parties with respect to the
subject matter hereof and thereof and supersede any and all prior negotiations,
correspondence, agreements,

                                       13
<PAGE>   14

understandings, duties or obligations between the parties with respect to the
subject matter hereof and thereof.

               3.13 Expenses. Except as otherwise provided herein, each of the
Company and the Purchaser shall bear the expenses incurred on its behalf with
respect to this Agreement and the transaction contemplated hereby.

                                       14
<PAGE>   15

IN WITNESS WHEREOF, the foregoing Registration Rights Agreement is hereby
executed as of the date first above written.

                                            COMPANY:

                                            GENERAL MAGIC, INC.

                                            By: /s/ Steven Markman
                                               ---------------------------------

                                            Name: Steven Markman
                                                 -------------------------------

                                            Title: CEO
                                                  ------------------------------

                                            PURCHASER:

                                            GENERAL MOTORS CORPORATION
                                            By and through its OnStar Division

                                            By: /s/ F.H. Cooke
                                               ---------------------------------

                                            Name: F.H. Cooke
                                                 -------------------------------

                                            Title: Executive Director, OnStar
                                                  ------------------------------

                                       15

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