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Exhibit 10.5  

 
 

SHARE PURCHASE AGREEMENT    
  

THIS
AGREEMENT is made as of November 14, 2000. 

	BETWEEN:	 
	

 	
STANDARD RADIO INC., GARY SLAIGHT AND DAVID CORIAT

(collectively, herein called the "Purchaser")
	AND:	 
	

 	
MICHAEL METCALFE

(herein called the "Vendor")

    WHEREAS:

    A.  The
Vendor is the registered and beneficial owner of, inter alia, 1,000,000 common shares in the capital of Globalmedia.com (the
"Securities"); 

    B.  The
Vendor has agreed to sell and the Purchaser has agreed to purchase the Securities on the terms and conditions contained in this Agreement; 

NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which is
acknowledged by each of the parties), the parties agree as follows: 

1.  SALE AND PURCHASE  

    The Vendor hereby agrees to sell the Securities and the Purchaser hereby agrees to purchase the Securities on the terms and conditions contained in this
Agreement as a condition to closing a private placement by two investors including the Purchaser of 2,285,714 newly issued common shares of Globalmedia.com having a total acquisition cost of
U.S.$1,000,000 (the "Private Placement"). 

2.  PURCHASE PRICE  

    The purchase price for the Securities shall be U.S.$0.02 per share payable as follows on closing of the Private Placement: 

	Standard Radio	 	$	10,000	 	500,000 shares
	Mr. Slaight	 	$	5,000	 	250,000 shares
	Mr. Coriat	 	$	5,000	 	250,000 shares

3.  REPRESENTATIONS, WARRANTIES AND ACKNOWLEDGEMENTS OF THE VENDOR  

    3.1 Representations—The Vendor represents and warrants to the Purchaser as follows, with the intent that the Purchaser
shall rely thereon in entering into this Agreement and in concluding the purchase of the Securities as contemplated in this Agreement: 

	(a)
	Ownership—The Vendor is the sole legal and beneficial owner of the Securities;

	(b)
	Allotment and Issue—The Securities have been duly and validly allotted and issued or created and are outstanding as fully
paid and non-assessable; 

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	(c)
	Title—The Purchaser will acquire good, marketable and unencumbered title to the Securities free and clear of all liens,
charges or encumbrances of any kind whatsoever;

	(d)
	Capacity—The Vendor has full right, authority and capacity to enter into this Agreement and to carry out its terms and to
transfer the Securities to the Purchaser in accordance with the terms of this Agreement;

	(e)
	No Other Rights—No person, firm or corporation has any unexpired agreement, option or right to purchase the Securities
and the Vendor has no knowledge of any interest which may affect the right of the Purchaser to own and obtain all benefits from the Securities; and

	(f)
	Shareholder Agreements—The Securities are not subject to any shareholders, voting trust, pooling or like agreement which
will be binding upon the Purchaser as the purchaser of the Securities. 

    3.2 Survival—All of the representations, warranties, covenants, agreements and acknowledgements made by the Vendor in this
Agreement shall continue in full force and effect, notwithstanding the closing of the sale and purchase provided for in this Agreement. 

    3.3 Indemnity—The Vendor shall indemnify and save harmless the Purchaser from and against all costs, loss and damages
suffered or incurred by the Purchaser directly or indirectly by reason of a
misrepresentation, breach of warranty or non-fulfilment of any covenant or agreement of the Vendor contained in this Agreement. 

4.  ACKNOWLEDGEMENTS BY THE PURCHASER  

    The Purchaser acknowledges that: 

	(a)
	Restrictions on Transfer—The Vendor is an "affiliate" of Globalmedia.com (as that term is defined under Rule 144
of the Securities Act of 1933) ("Rule 144") as a result of which the Securities are "restricted securities" as defined under Rule 144 and
subject to the resale restrictions set out therein;

	(b)
	Additional Restrictions on Transfer—Globalmedia.com is not a reporting issuer in the Province of Ontario as a result of
which the Securities may be restricted from transfer under the Securities Act (Ontario); and

	(c)
	Legal Advice—The Purchaser has been advised by the Vendor that it should consult its own legal adviser before disposing
of all or any part of the Securities to avoid breach of relevant securities laws, regulations and policies. 

5.  PURCHASER'S CONDITIONS  

    The obligations of the Purchaser in this Agreement are subject to the following conditions which are for the exclusive benefit of the Purchaser: 

	(a)
	Certificates—Delivery by the Vendor to the Purchaser of the certificates representing the Securities, endorsed for
transfer to the Purchaser;

	(b)
	Representations True—The representations, warranties and acknowledgements of the Vendor contained in paragraph 3
shall be true and correct on the closing date of the purchase of the Initial Securities and the Subsequent Securities;

	(c)
	Miscellaneous—Receipt by the Purchaser of such other documents or completion of such other steps as counsel to the
Purchaser reasonably deems necessary to effectively complete the purchase of the Securities by the Purchaser as contemplated in this Agreement. 

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6.  VENDOR'S CONDITIONS  

    The obligations of the Vendor in this Agreement are subject to delivery by the Purchaser to the Vendor of the Purchase Price in respect of the Securities. 

7.  GENERAL  

    7.1 Enurement—This Agreement shall enure to the benefit of and shall be binding upon each of the parties hereto and their
respective heirs, executors, administrators, successors and permitted assigns. 

    7.2 Further Assurances—Each of the parties shall execute such further and other documents and do such further and other
acts as may be necessary to give effect to this Agreement. 

    7.3 Proper Law—This Agreement shall be governed by the laws of the State of Nevada which shall be deemed to be the proper
law hereof. 

    7.4 Time—Time shall be of the essence of this Agreement. 

    7.5 Amendment—This Agreement may not be modified or amended except by instrument in writing signed by the parties hereto or
by their respective heirs, executors, administrators, successors or permitted assigns. 

    7.6 Entire Agreement—The terms and provisions herein constitute the entire agreement between the parties with respect to
the subject matter hereof and shall supersede any previous oral or written communications. 

    7.7 Severance—If a provision of this Agreement is wholly or partially invalid, this Agreement shall be interpreted as if
the invalid provision had not been a part. 

    7.8 Non-Waiver—No condoning, excusing or waiver by any party of any default, breach or
non-observance by any other party will operate as a waiver of that party's rights in respect of any continuing or subsequent default, breach or non-observance or so as to
defeat or affect in any way the rights of that party in respect of any continuing or subsequent default, breach or non-observance, and no waiver will be inferred from or implied by
anything done or omitted to be done by the party having those rights. 

    7.9 Headings—The headings to the paragraphs in this Agreement are inserted for convenience of reference only and will not
affect the construction or interpretation of this Agreement. 

    7.10 Counterparts—This Agreement may be executed in facsimile counterparts, each of which when executed and delivered shall
be deemed to be an original and all of which counterparts together shall constitute the same Agreement. 

    7.11 Independent Counsel—Davis Wright Tremaine LLP is counsel to GlobalMedia.com and does not represent either the
Purchaser or Vendor. Each party acknowledges that they have been advised to consult with their own legal counsel in relation to this transaction. 

Signatures on next page

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    IN WITNESS WHEREOF the parties have executed this Agreement on the day and year first above written. 

PURCHASER:
STANDARD RADIO INC.

By: 

Print Name: 

Its: 

David Coriat 

Gary Slaight 

VENDOR:

Michael Metcalfe 

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Exhibit 10.6  

 
 

GLOBALMEDIA.COM
  
    STOCK OPTION AGREEMENT
  UNDER
  2000 STOCK OPTION PLAN
  (Non-Qualified Stock Option)    
  

November 14,
2000 

To: Jeffrey Mandelbaum

    We
are pleased to inform you that you have been selected by the Board of Directors of the Company to receive an option to purchase shares of the Company's common stock (the
"Option") under the terms of this Agreement and of the Company's 2000 Stock Option Plan (the "Plan"). A
copy of the Plan is attached as Exhibit A, and is incorporated into this Agreement. Please refer to the Plan for a detailed explanation of the
Option. All undefined capitalized terms used in this Agreement have the meaning provided in the Plan. The specific terms of your Option are as follows: 

    1.  Number of Shares.  You may purchase up to 300,000 shares of the Company's common stock under this
Option. 

    2.  Exercise Price.  $0.4375 per share, which is the fair market value of one share of the Company's
common stock as of the date of this Agreement. 

    3.  Date Option Granted.  The date of this Agreement. 

    4.  Term.  Unless sooner terminated, the Option must be exercised on or before ten years from the date it
was granted. The Option is exercisable in accordance with its terms until it is terminated or expires. 

    5.  Base Date for Vesting.  The date of this Agreement. 

    6.  Vesting.  This Option shall vest and become exercisable according to the following schedule. 

	Years of Continuous Service, from Base Date
	 	Portion of Total Option

That is Exercisable

	1 through 30 days	 	25,000
	60 days	 	50,000
	90 days	 	75,000
	120 days	 	100,000
	150 days	 	125,000
	180 days	 	150,000
	210 days	 	175,000
	240 days	 	200,000
	270 days	 	225,000
	300 days	 	250,000
	330 days	 	275,000
	360 days	 	300,000

    7.  Termination of Option.  A number of events, such as your retirement, death, or termination of
employment, can cause the Option to terminate. The provisions of the Plan concerning termination of the Option are set forth in detail in Section 8 of the Plan. 

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    8.  Option Not Transferable.  This Option cannot be transferred except by will or the applicable laws of
descent and distribution. 

    9.  Investment Purchase; Restrictions.  By accepting this Option you represent and warrant to the Company
that you are acquiring this Option, and will acquire any Shares purchased through exercise of this Option, solely for investment purposes and not with a view to distribution, unless the Plan has been
registered with the SEC on a Form S-8 registration statement. However, the Company has no obligation to register the shares that would be issued upon the exercise of your Option,
and if it never registers the shares, you may not be able to sell the shares you receive upon exercise. This and other restrictions related to federal and state securities laws are described in
Section 11 of the Plan. A number of the conditions to the Company's obligation to permit exercise of this Option are also set forth in Section 6 of the Plan. 

    10.  Non-Statutory Stock Option.  This Option is a Non-Statutory Stock Option as
defined in the Plan, and is not intended to be an "Incentive Stock Option" as that term is defined in Section 422 of the Internal Revenue Code, as amended. 

    11.  Not Compensation.  This Option is being granted to you as further consideration for your agreement
to continue to serve as Chairman of the Board of the Company and is not intended to be deemed compensation to you. If this provision conflicts with the terms of any other agreement between the
parties, then this provision will control. 

    12.  Taxation.  If you exercise this Option, you will have taxable income equal to the difference between
the fair market value of the Common Stock (as of the date of exercise) that you purchase under this Option and the Exercise Price and the gain that you may realize upon the sale of the stock will be
taxed as capital gain. In addition, because this amount is taxed as compensation, it may require the Company to withhold income and payroll taxes from other income paid to you. Thus, the time at which
you exercise this Option or dispose of any shares acquired upon exercise of this Option may significantly affect your tax burden. You should consider obtaining tax advice before exercising your
Option. 

    13.  General.  This Agreement will be governed by, construed, and enforced under the laws of the State of
Nevada. If any portion of this Agreement is held to be invalid by a court having jurisdiction, the remaining terms of this Agreement will remain in full force and effect. The prevailing party in any
arbitration or litigation concerning this Agreement is entitled to reimbursement of its court costs and attorney fees by the non-prevailing party, including such costs and fees as may be
incurred on appeal or in a bankruptcy proceeding. 

    Please
sign the attached election form indicating whether you choose to accept or decline this Option upon the terms set forth in the Plan and this Agreement, and return the signed
election form to the Company. 

Very
truly yours, 

GLOBALMEDIA.COM

By 

Name: 

Title: 

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ELECTION TO ACCEPT OR DECLINE OPTION GRANT
  UNDER THE
  GLOBALMEDIA.COM
  2000 STOCK OPTION PLAN    
  

    I              ACCEPT              DECLINE the stock option granted to me
under the Plan,
as set forth in the above letter agreement. If I accept the grant of the Option, I acknowledge that I have received and understood, and agree to, the terms of this letter agreement and the Plan. 

    DATE:
November   , 2000. 

(Signature)
 Jeffrey Mandelbaum

(Printed Name) 

3

 
 
 

EXHIBIT A
  PLAN    
  

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GLOBALMEDIA.COM STOCK OPTION AGREEMENT UNDER 2000 STOCK OPTION PLAN (Non-Qualified Stock Option)

ELECTION TO ACCEPT OR DECLINE OPTION GRANT UNDER THE GLOBALMEDIA.COM 2000 STOCK OPTION PLAN

EXHIBIT A PLAN

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