Document:

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                                                                    Exhibit 4.11

THIS WARRANT AND ANY SECURITIES ACQUIRED UPON EXERCISE OF THIS WARRANT HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE
SECURITIES UNDER SUCH ACT OR APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN
APPLICABLE EXEMPTION TO THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS.

                            NTN COMMUNICATIONS, INC.

                              AMENDED AND RESTATED
                          COMMON STOCK PURCHASE WARRANT

No. W-                                                          January 26, 2001

                                                   Warrant to Purchase _________
                                                          Shares of Common Stock

                  NTN COMMUNICATIONS, INC., a Delaware corporation (the
"Company"), for value received, hereby certifies that _________, or registered
assigns (the "Holder"), is entitled to purchase from the Company _________ (the
"Warrant Shares") duly authorized, validly issued, fully paid and nonassessable
shares of Common Stock, par value $.005 per share, of the Company (the "Common
Stock"), at a purchase price per share equal to the Purchase Price (as defined
below), at any time or from time to time on and after the date hereof and prior
to 5:00 P.M., New York City time, on November 14, 2003 (the "Expiration Date"),
all subject to the terms, conditions and adjustments set forth below in this
Warrant.

                  This Warrant is one of the Common Stock Purchase Warrants
(collectively, the "Warrants", such term to include any such warrants issued in
substitution therefor) originally issued pursuant to the terms of the Securities
Purchase Agreement, dated as of November 14, 2000, by and among the Company and
the Buyers signatory thereto (the "Purchase Agreement") and subsequently amended
and restated pursuant to the Restructure Agreement, dated as of January 26,
2001, by and among the Company and the Buyers signatory thereto. Capitalized
terms used herein and not otherwise defined herein shall have the meanings
assigned such terms in the Purchase Agreement.

                  1. DEFINITIONS. As used herein, unless the context otherwise
requires, the following terms shall have the meanings indicated:

                  "Additional Shares of Common Stock" shall mean, all shares
(including treasury shares) of Common Stock issued or sold (or, pursuant to
Section 3.3 or 3.4, deemed to be issued) by the Company after the date hereof,
whether or not subsequently reacquired or retired by the
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Company other than (i) shares of Common Stock issued upon exercise of the
Warrants, (ii) such number of additional shares of Common Stock as may become
issuable by exercise of the Warrants by reason of adjustments required pursuant
to the anti-dilution provisions applicable to the Warrants, (iii) shares of
Common Stock issued pursuant to Approved Stock Plans and (iv) shares of Common
Stock issued pursuant to warrants issued and outstanding on November 14, 2000
and listed on Schedule 3(c) to the Purchase Agreement.

                  "Anniversary Date" shall mean November 14 of each calendar
year.

                  "Approved Stock Plan" shall mean any contract, plan or
agreement which has been or shall be approved by the Board of Directors of the
Company or a committee of the Board of Directors, pursuant to which the
Company's securities may be issued to any employee, officer, director,
consultant or other service provider of the Company in an aggregate amount that
does not exceed 110% of the number of securities issuable as of November 14,
2000 pursuant to any currently existing Approved Stock Plan.

                  "Average Closing Bid Price" shall mean the average of the
Closing Bid Prices of the Common Stock for the twenty (20) days immediately
preceding the applicable date.

                  "Average Market Price" shall mean the average of the Closing
Bid Prices of the Common Stock for the five (5) trading days immediately
preceding the applicable date.

                  "Business Day" shall mean any day other than a Saturday or a
Sunday or a day on which commercial banking institutions in the City of New York
are authorized by law to be closed. Any reference to "days" (unless Business
Days are specified) shall mean calendar days.

                  "Buy in Actual Damages" shall have the meaning assigned to it
in Section 2.6 of this Agreement.

                  "Closing Bid Price" shall mean for any security as of any
date, the closing bid price of such security on the principal securities
exchange or trade market where such security is listed or traded as reported by
Bloomberg, L.P. ("Bloomberg"), or if the foregoing does not apply, the closing
bid price of such security in the over-the-counter market on the electronic
bulletin board for such security as reported by Bloomberg, or, if no closing bid
price is reported for such security by Bloomberg, the average of the bid prices
of any market makers for such security as reported in the "pink sheets" by the
National Quotation Bureau, Inc. If the Closing Bid Price cannot be calculated
for such security on such date, as set forth above, the Closing Bid Price of
such security shall be the fair market value as determined in good faith by an
investment banking firm selected jointly by the Company and the Holder, with the
fees and expenses of such determination borne solely by the Company.

                  "Commission" shall mean the Securities and Exchange Commission
or any successor agency having jurisdiction to enforce the Securities Act.

                  "Common Stock" shall have the meaning assigned to it in the
introduction to this Warrant, such term to include any stock into which such
Common Stock shall have been changed or any stock resulting from any
reclassification of such Common Stock, and all other stock of any class or
classes (however designated) of the Company the holders of which have the

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right, without limitation as to amount, either to all or to a share of the
balance of current dividends and liquidating dividends after the payment of
dividends and distributions on any shares entitled to preference.

                  "Company" shall have the meaning assigned to it in the
introduction to this Warrant, such term to include any corporation or other
entity which shall succeed to or assume the obligations of the Company hereunder
in compliance with Section 4.

                  "Convertible Securities" shall mean any evidences of
indebtedness, shares of stock (other than Common Stock) or other securities
directly or indirectly convertible into or exchangeable for Additional Shares of
Common Stock.

                  "Current Market Price" shall mean, on any date specified
herein, the average of the daily Closing Bid Prices for the Common Stock during
the 10 consecutive trading days commencing 15 trading days before such date,
except that, if on any such date the shares of Common Stock are not listed or
admitted for trading on any national securities exchange or quoted in the
over-the-counter market, the Current Market Price shall be the Fair Value on
such date.

                  "Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended from time to time, and the rules and regulations thereunder, or any
successor statute.

                  "Expiration Date" shall have the meaning assigned to it in the
introduction to this Warrant.

                  "Fair Value" shall mean, on any date specified herein (i) in
the case of cash, the dollar amount thereof, (ii) in the case of a security
admitted for trading on any national securities exchange or quoted in the
over-the-counter market, the Current Market Price, and (iii) in all other cases
as determined in good faith jointly by the Board of Directors of the Company and
the Holder; provided, however, that if such parties are unable to reach
agreement within a reasonable period of time, the Fair Value shall be determined
in good faith by an independent investment banking firm selected jointly by the
Company and the Holder or, if that selection cannot be made within ten days, by
an independent investment banking firm selected by the American Arbitration
Association in accordance with its rules, and provided further, that the Company
shall pay all of the fees and expenses of any third parties incurred in
connection with determining the Fair Value.

                  "Options" shall mean any rights, options or warrants to
subscribe for, purchase or otherwise acquire either Additional Shares of Common
Stock or Convertible Securities.

                  "Other Securities" shall mean any stock (other than Common
Stock) and other securities of the Company or any other Person (corporate or
otherwise) which the holders of the Warrants at any time shall be entitled to
receive, or shall have received, upon the exercise of the Warrants, in lieu of
or in addition to Common Stock, or which at any time shall be issuable or shall
have been issued in exchange for or in replacement of Common Stock or Other
Securities pursuant to Section 4 or otherwise.

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                  "Person" shall mean any individual, firm, partnership,
corporation, trust, joint venture, association, joint stock company, limited
liability company, unincorporated organization or any other entity or
organization, including a government or agency or political subdivision thereof,
and shall include any successor (by merger or otherwise) of such entity.

                  "Purchase Agreement" shall have the meaning assigned to it in
the introduction to this Warrant.

                  "Purchase Price" shall mean $1.64125 provided, however, that
such amount shall be subject to adjustment and readjustment from time to time as
provided in Section 3, and, as so adjusted or readjusted, shall remain in effect
until a further adjustment or readjustment thereof is required by Section 3.

                  "Registration Rights Agreement" shall mean the Registration
Agreement dated as of November 14, 2000, substantially in the form of Exhibit C
to the Purchase Agreement.

                  "Rights" shall have the meaning assigned to it in Section
3.10.

                  "Securities Act" shall mean the Securities Act of 1933, as
amended from time to time, and the rules and regulations thereunder, or any
successor statute.

                  "Warrants" shall have the meaning assigned to it in the
introduction to this Warrant.

                  2. EXERCISE OF WARRANT.

                  2.1. Manner of Exercise; Payment of the Purchase Price. (a)
This Warrant may be exercised by the Holder, in whole or in part, at any time or
from time to time on and after the date hereof and prior to the Expiration Date,
by surrendering to the Company at its principal office (or such other office or
agency of the Company as the Company may designate in a written notice to the
Holder) this Warrant, together with the form of Election to Purchase Shares
attached hereto as Exhibit A (or a reasonable facsimile thereof) duly executed
by the Holder and accompanied by payment of the Purchase Price as described
below for the number of shares of Common Stock specified in such form.

                  (b) Payment of the Purchase Price may be made as follows (or
by any combination of the following): (i) in United States currency by cash or
delivery of a certified check or bank draft payable to the order of the Company
or by wire transfer to the account of the Company, (ii) by cancellation of such
number of the shares of Common Stock otherwise issuable to the Holder upon such
exercise as shall be specified in such Election to Purchase Shares, such that
the excess of the Current Market Price of such specified number of shares on the
date of exercise over the portion of the Purchase Price attributable to such
shares shall equal the Purchase Price attributable to the shares of Common Stock
to be issued upon such exercise, in which case upon delivery of such notice such
amount shall be deemed to have been paid to the Company and the number of shares
issuable upon such exercise shall be reduced by such specified number, or (iii)
by surrender to the Company for cancellation, certificates representing shares
of Common Stock of the Company owned by the Holder (properly endorsed for
transfer

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in blank) having a Current Market Price on the date of Warrant exercise equal to
the Purchase Price.

                  2.2. When Exercise Effective. Each exercise of this Warrant
shall be deemed to have been effected immediately prior to the close of business
on the Business Day on which this Warrant shall have been surrendered to, and
the Purchase Price shall have been received by, the Company as provided in
Section 2.1, and at such time the Person or Persons in whose name or names any
certificate or certificates for shares of Common Stock (or Other Securities)
shall be issuable upon such exercise as provided in Section 2.3 shall be deemed
to have become the holder or holders of record thereof for all purposes.

                  2.3. Delivery of Stock Certificates, etc.; Charges, Taxes and
Expenses. Subject to Section 2.5 (a) as soon as practicable after each exercise
of this Warrant, in whole or in part, and in any event within three (3) Business
Days thereafter, the Company shall cause to be issued in such denominations as
may be requested by Holder in the Election to Purchase Shares, in the name of
and delivered to the Holder or, subject the Purchase Agreement, as the Holder
may direct,

                  (i) a certificate or certificates, or, if then permissible
         under the Securities Act, at a Holder's request to electronically issue
         such shares (e.g., through DWAC or DTC), an electronic issuance for the
         number of shares of Common Stock (or Other Securities) to which the
         Holder shall be entitled upon such exercise plus, in lieu of issuance
         of any fractional share to which the Holder would otherwise be
         entitled, if any, a certified check for the amount of cash equal to the
         same fraction multiplied by the Current Market Price per share on the
         date of Warrant exercise, provided, however, that in the event
         sufficient funds are not legally available for the payment of such
         amount, the number of shares of Common Stock for which such
         certificate(s) represents shall be rounded up to the nearest whole
         number, and

                  (ii) in case such exercise is for less than all of the shares
         of Common Stock purchasable under this Warrant, a new Warrant or
         Warrants of like tenor, for the balance of the shares of Common Stock
         purchasable hereunder.

                  (b) Issuance of certificates for shares of Common Stock upon
the exercise of this Warrant shall be made without charge to the Holder hereof
for any issue or transfer tax or other incidental expense, in respect of the
issuance of such certificates, all of which such taxes and expenses shall be
paid by the Company.

                  2.4. Company to Reaffirm Obligations. The Company shall, at
the time of each exercise of this Warrant, upon the request of the Holder
hereof, acknowledge in writing its continuing obligation to afford to such
Holder all rights to which such Holder shall continue to be entitled after such
exercise in accordance with the terms of this Warrant, provided that if the
Holder of this Warrant shall fail to make any such request, such failure shall
not affect the continuing obligation of the Company to afford such rights to the
Holder.

                  2.5. Exercise Disputes. In the case of any dispute with
respect to the number of shares to be issued upon exercise of this Warrant, the
Company shall promptly issue such

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number of shares of Common Stock that is not disputed and shall submit the
disputed determinations or arithmetic calculations to the Holder via facsimile
within two (2) Business Days of receipt of the Holder's Election to Purchase
Shares. If the Holder and the Company are unable to agree as to the
determination of the Purchase Price within two (2) Business Days of such
disputed determination or arithmetic calculation being submitted to the Holder,
then the Company shall in accordance with this Section, submit via facsimile the
disputed determination to an independent reputable accounting firm of national
standing, selected jointly by the Company and the Holder. The Company shall
cause such accounting firm to perform the determinations or calculations and
notify the Company and the Holder of the results within forty-eight (48) hours
from the time it receives the disputed determinations of calculations. Such
accounting firm's determination shall be binding upon all parties absent
manifest error. The Company shall then on the next Business Day issue
certificate(s) representing the appropriate number of shares of Common Stock in
accordance with such accounting firm's determination and this Section. All fees
and expenses of such determination and calculation shall be borne by the
Company.

                  2.6. Failure to Deliver Common Stock If, at any time, the
Holder of this Warrant submits this Warrant, an Election to Purchase Shares and
payment to the Company of the Purchase Price for each of the shares of Common
Stock specified in the Election to Purchase Shares in accordance with Section
2.1 above, and the Company, for any reason, fails to deliver, on or prior to the
last possible date which the Company could have issued such Common Stock to the
Holder without violating this Section 2, the number of shares of Common Stock
for which the Holder is entitled upon such exercise, the Company shall pay
damages to the Holder equal to the greater of (a) actual damages incurred by the
Holder as a result of the Holder's needing to "buy in" shares of Common Stock to
the extent necessary to satisfy its securities delivery requirements ("Buy In
Actual Damages") and (b) if the Company fails to deliver such certificates
within five days after the last possible date on which the Company could have
issued such Common Stock to the Holder without violating this Section 2, on each
date such exercise is not timely effected in an amount equal to 1% of the
product of (i) the number of shares of Common Stock not issued to the Holder on
a timely basis and to which the Holder is entitled and (ii) the Closing Bid
Price of the Common Stock on the last possible date which the Company could have
issued such Common Stock to the Holder without violating this Section 2.

                  3. ADJUSTMENT OF COMMON STOCK ISSUABLE UPON EXERCISE.

                  3.1. Adjustment of Number of Shares.

                  Upon each adjustment of the Purchase Price as a result of the
calculations made in this Section 3, this Warrant shall thereafter evidence the
right to receive, at the adjusted Purchase Price, that number of shares of
Common Stock (calculated to the nearest one-hundredth) obtained by dividing (i)
the product of the aggregate number of shares covered by this Warrant
immediately prior to such adjustment and the Purchase Price in effect
immediately prior to such adjustment of the Purchase Price by (ii) the Purchase
Price in effect immediately after such adjustment of the Purchase Price.

                  3.2. Adjustment of Purchase Price.

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                  3.2.1. Issuance of Additional Shares of Common Stock. In case
the Company at any time or from time to time after the date hereof shall issue
or sell Additional Shares of Common Stock (including Additional Shares of Common
Stock deemed to be issued pursuant to Section 3.3 or 3.4 but excluding
Additional Shares of Common Stock purchasable upon exercise of Rights referred
to in Section 3.10), without consideration or for a consideration per share less
than the Average Market Price as in effect immediately prior to such issue or
sale, then, and in each such case, subject to Section 3.8, the Purchase Price
shall be reduced, concurrently with such issue or sale, to a price (calculated
to the nearest .001 of a cent) determined by multiplying such Purchase Price by
a fraction

                  (a) the numerator of which shall be the sum of (i) the number
         of shares of Common Stock outstanding immediately prior to such issue
         or sale and (ii) the number of shares of Common Stock which the gross
         consideration received by the Company for the total number of such
         Additional Shares of Common Stock so issued or sold would purchase at
         such Current Market Price, and

                  (b) the denominator of which shall be the number of shares of
         Common Stock outstanding immediately after such issue or sale, provided
         that, for the purposes of this Section 3.2.1, (x) immediately after any
         Additional Shares of Common Stock are deemed to have been issued
         pursuant to Section 3.3 or 3.4, such Additional Shares shall be deemed
         to be outstanding, and (y) treasury shares shall not be deemed to be
         outstanding.

                  3.2.2. Extraordinary Dividends and Distributions. In case the
Company at any time or from time to time after the date hereof shall declare,
order, pay or make a dividend or other distribution (including, without
limitation, any distribution of other or additional stock or other securities or
property or Options by way of dividend or spin-off, reclassification,
recapitalization or similar corporate rearrangement) on the Common Stock, then,
in each such case, subject to Section 3.8, the Purchase Price in effect
immediately prior to the close of business on the record date fixed for the
determination of holders of any class of securities entitled to receive such
dividend or distribution shall be reduced, effective as of the close of business
on such record date, to a price determined by multiplying such Purchase Price by
a fraction

                  (x) the numerator of which shall be the Current Market Price
         in effect on such record date or, if the Common Stock trades on an
         ex-dividend basis, on the date prior to the commencement of ex-dividend
         trading, less the Fair Value of such dividend or distribution
         applicable to one share of Common Stock, and

                  (y) the denominator of which shall be such Current Market
         Price.

                  3.3. Treatment of Options and Convertible Securities. In case
the Company at any time or from time to time after the date hereof shall issue,
sell, grant or assume, or shall fix a record date for the determination of
holders of any class of securities of the Company entitled to receive, any
Options or Convertible Securities (whether or not the rights thereunder are
immediately exercisable) then, and in each such case, the maximum number of
Additional Shares of Common Stock (as set forth in the instrument relating
thereto, without regard to any provisions contained therein for a subsequent
adjustment of such number) issuable upon the

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exercise of such Options or, in the case of Convertible Securities and Options
therefor, the conversion or exchange of such Convertible Securities, shall be
deemed to be Additional Shares of Common Stock issued as of the time of such
issue, sale, grant or assumption or, in case such a record date shall have been
fixed, as of the close of business on such record date (or, if the Common Stock
trades on an ex-dividend basis, on the date prior to the commencement of
ex-dividend trading), provided that such Additional Shares of Common Stock shall
not be deemed to have been issued unless (i) the consideration per share
(determined pursuant to Section 3.5) of such shares would be less than the
Average Market Price as in effect on the date of and immediately prior to such
issue, sale, grant or assumption or immediately prior to the close of business
on such record date (or, if the Common Stock trades on an ex-dividend basis, on
the date prior to the commencement of ex-dividend trading), as the case may be
and (ii) such Additional Shares of Common Stock are not purchasable pursuant to
Rights referred to in Section 3.10, and provided, further, that

                  (a) whether or not the Additional Shares of Common Stock
         underlying such Options or Convertible Securities are deemed to be
         issued, no further adjustment of the Purchase Price shall be made upon
         the subsequent issue or sale of Convertible Securities or shares of
         Common Stock upon the exercise of such Options or the conversion or
         exchange of such Convertible Securities;

                  (b) if such Options or Convertible Securities by their terms
         provide, with the passage of time or otherwise, for any increase in the
         consideration payable to the Company, or decrease in the number of
         Additional Shares of Common Stock issuable, upon the exercise,
         conversion or exchange thereof (by change of rate or otherwise), the
         Purchase Price computed upon the original issue, sale, grant or
         assumption thereof (or upon the occurrence of the record date, or date
         prior to the commencement of ex-dividend trading, as the case may be,
         with respect thereto), and any subsequent adjustments based thereon,
         shall, upon any such increase or decrease becoming effective, be
         recomputed to reflect such increase or decrease insofar as it affects
         such Options, or the rights of conversion or exchange under such
         Convertible Securities, which are outstanding at such time;

                  (c) upon the expiration or termination (or purchase by the
         Company and cancellation or retirement) of any such Options which shall
         not have been exercised or the expiration of any rights of conversion
         or exchange under any such Convertible Securities which (or purchase by
         the Company and cancellation or retirement of any such Convertible
         Securities the rights of conversion or exchange under which) shall not
         have been exercised, the Purchase Price computed upon the original
         issue, sale, grant or assumption thereof (or upon the occurrence of the
         record date, or date prior to the commencement of ex-dividend trading,
         as the case may be, with respect thereto), and any subsequent
         adjustments based thereon, shall, upon such expiration (or such
         cancellation or retirement, as the case may be), be recomputed as if:

                           (i) in the case of Options for Common Stock or
                  Convertible Securities, the only Additional Shares of Common
                  Stock issued or sold were the Additional Shares of Common
                  Stock, if any, actually issued or sold upon the exercise of
                  such Options or the conversion or exchange of such Convertible

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                  Securities and the consideration received therefor was the
                  consideration actually received by the Company for the issue,
                  sale, grant or assumption of all such Options, whether or not
                  exercised, plus the consideration actually received by the
                  Company upon such exercise, or for the issue or sale of all
                  such Convertible Securities which were actually converted or
                  exchanged, plus the additional consideration, if any, actually
                  received by the Company upon such conversion or exchange, and

                           (ii) in the case of Options for Convertible
                  Securities, only the Convertible Securities, if any, actually
                  issued or sold upon the exercise of such Options were issued
                  at the time of the issue or sale, grant or assumption of such
                  Options, and the consideration received by the Company for the
                  Additional Shares of Common Stock deemed to have then been
                  issued was the consideration actually received by the Company
                  for the issue, sale, grant or assumption of all such Options,
                  whether or not exercised, plus the consideration deemed to
                  have been received by the Company (pursuant to Section 3.5)
                  upon the issue or sale of such Convertible Securities with
                  respect to which such Options were actually exercised;

                  (d) no readjustment pursuant to subdivision (b) or (c) above
         shall have the effect of increasing the Purchase Price by an amount in
         excess of the amount of the adjustment thereof originally made in
         respect of the issue, sale, grant or assumption of such Options or
         Convertible Securities; and

                  (e) in the case of any such Options which expire by their
         terms not more than 30 days after the date of issue, sale, grant or
         assumption thereof, no adjustment of the Purchase Price shall be made
         until the expiration or exercise of all such Options, whereupon such
         adjustment shall be made in the manner provided in subdivision (c)
         above.

                  3.4. Treatment of Stock Dividends, Stock Splits, etc. In case
the Company at any time or from time to time after the date hereof shall declare
or pay any dividend on the Common Stock payable in Common Stock, or shall effect
a subdivision of the outstanding shares of Common Stock into a greater number of
shares of Common Stock (by reclassification or otherwise than by payment of a
dividend in Common Stock), then, and in each such case, Additional Shares of
Common Stock shall be deemed to have been issued (a) in the case of any such
dividend, immediately after the close of business on the record date for the
determination of holders of any class of securities entitled to receive such
dividend, or (b) in the case of any such subdivision, at the close of business
on the day immediately prior to the day upon which such corporate action becomes
effective.

                  3.5. Computation of Consideration. For the purposes of this
Section 3,

                  (a) the consideration for the issue or sale of any Additional
         Shares of Common Stock shall, irrespective of the accounting treatment
         of such consideration,

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                           (i) insofar as it consists of cash, be computed at
                  the amount of cash received by the Company, without deducting
                  any expenses paid or incurred by the Company or any
                  commissions or compensations paid or concessions or discounts
                  allowed to underwriters, dealers or others performing similar
                  services in connection with such issue or sale,

                           (ii) insofar as it consists of property (including
                  securities) other than cash, be computed at the Fair Value
                  thereof at the time of such issue or sale, and

                           (iii) in case Additional Shares of Common Stock are
                  issued or sold together with other stock or securities or
                  other assets of the Company for a consideration which covers
                  both, be the portion of such consideration so received,
                  computed as provided in clauses (i) and (ii) above, allocable
                  to such Additional Shares of Common Stock, such allocation to
                  be determined in the same manner that the Fair Value of
                  property not consisting of cash or securities is to be
                  determined as provided in the definition of 'Fair Value'
                  herein;

                  (b) Additional Shares of Common Stock deemed to have been
         issued pursuant to Section 3.3, relating to Options and Convertible
         Securities, shall be deemed to have been issued for a consideration per
         share determined by dividing

                           (i) the total amount, if any, received and receivable
                  by the Company as consideration for the issue, sale, grant or
                  assumption of the Options or Convertible Securities in
                  question, plus the minimum aggregate amount of additional
                  consideration (as set forth in the instruments relating
                  thereto, without regard to any provision contained therein for
                  a subsequent adjustment of such consideration to protect
                  against dilution) payable to the Company upon the exercise in
                  full of such Options or the conversion or exchange of such
                  Convertible Securities or, in the case of Options for
                  Convertible Securities, the exercise of such Options for
                  Convertible Securities and the conversion or exchange of such
                  Convertible Securities, in each case computing such
                  consideration as provided in the foregoing subdivision (a),

                  by

                           (ii) the maximum number of shares of Common Stock (as
                  set forth in the instruments relating thereto, without regard
                  to any provision contained therein for a subsequent adjustment
                  of such number to protect against dilution) issuable upon the
                  exercise of such Options or the conversion or exchange of such
                  Convertible Securities; and

                  (c) Additional Shares of Common Stock deemed to have been
         issued pursuant to Section 3.4, relating to stock dividends, stock
         splits, etc., shall be deemed to have been issued for no consideration.

                  3.6. Adjustments for Combinations, etc. In case the
outstanding shares of Common Stock shall be combined or consolidated, by
reclassification or otherwise, into a lesser number of shares of Common Stock,
the Purchase Price in effect immediately prior to such

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combination or consolidation shall, concurrently with the effectiveness of such
combination or consolidation, be proportionately increased.

                  3.7. Dilution in Case of Other Securities. In case any Other
Securities shall be issued or sold or shall become subject to issue or sale upon
the conversion or exchange of any stock (or Other Securities) of the Company (or
any issuer of Other Securities or any other Person referred to in Section 4) or
to subscription, purchase or other acquisition pursuant to any Options issued or
granted by the Company (or any such other issuer or Person) for a consideration
such as to dilute, on a basis consistent with the standards established in the
other provisions of this Section 3, the purchase rights granted by this Warrant,
then, and in each such case, the computations, adjustments and readjustments
provided for in this Section 3 with respect to the Purchase Price and the number
of shares purchasable upon Warrant exercise shall be made as nearly as possible
in the manner so provided and applied to determine the amount of Other
Securities from time to time receivable upon the exercise of the Warrants, so as
to protect the holders of the Warrants against the effect of such dilution.

                  3.8. De Minimis Adjustments. If the amount of any adjustment
of the Purchase Price per share required pursuant to this Section 3 would be
less than $.01, such amount shall be carried forward and adjustment with respect
thereto made at the time of and together with any subsequent adjustment which,
together with such amount and any other amount or amounts so carried forward,
shall aggregate a change in the Purchase Price of at least $.01 per share. All
calculations under this Warrant shall be made to the nearest .001 of a cent or
to the nearest one-hundredth of a share, as the case may be.

                  3.9. Abandoned Dividend or Distribution. If the Company shall
take a record of the holders of its Common Stock for the purpose of entitling
them to receive a dividend or other distribution (which results in an adjustment
to the Purchase Price under the terms of this Warrant) and shall, thereafter,
and before such dividend or distribution is paid or delivered to stockholders
entitled thereto, legally abandon its plan to pay or deliver such dividend or
distribution, then any adjustment made to the Purchase Price and number of
shares of Common Stock purchasable upon Warrant exercise by reason of the taking
of such record shall be reversed, and any subsequent adjustments, based thereon,
shall be recomputed.

                  3.10. Shareholder Rights Plan. Notwithstanding the foregoing,
in the event that the Company shall distribute "poison pill" rights pursuant to
a "poison pill" shareholder rights plan (the "Rights"), the Company shall, in
lieu of making any adjustment pursuant to Section 3.2.1 or Section 3.2.2 hereof,
make proper provision so that each Holder who exercises a Warrant after the
record date for such distribution and prior to the expiration or redemption of
the Rights shall be entitled to receive upon such exercise, in addition to the
shares of Common Stock issuable upon such exercise, a number of Rights to be
determined as follows: (i) if such exercise occurs on or prior to the date for
the distribution to the holders of Rights of separate certificates evidencing
such Rights (the "Distribution Date"), the same number of Rights to which a
holder of a number of shares of Common Stock equal to the number of shares of
Common Stock issuable upon such exercise at the time of such exercise would be
entitled in accordance with the terms and provisions of and applicable to the
Rights; and (ii) if such exercise occurs after the Distribution Date, the same
number of Rights to which a holder of the number of shares into which the
Warrant so exercised was exercisable immediately prior to the Distribution

                                      -11-
<PAGE>   12
Date would have been entitled on the Distribution Date in accordance with the
terms and provisions of and applicable to the Rights, and in each case subject
to the terms and conditions of the Rights.

                  4. CONSOLIDATION, MERGER, ETC.

                  4.1. Adjustments for Consolidation, Merger, Sale of Assets,
Reorganization, etc. In case the Company after the date hereof (a) shall
consolidate with or merge into any other Person and shall not be the continuing
or surviving corporation of such consolidation or merger, or (b) shall permit
any other Person to consolidate with or merge into the Company and the Company
shall be the continuing or surviving Person but, in connection with such
consolidation or merger, the Common Stock or Other Securities shall be changed
into or exchanged for stock or other securities of any other Person or cash or
any other property, or (c) shall transfer all or substantially all of its
properties or assets to any other Person, or (d) shall effect a capital
reorganization or reclassification of the Common Stock or Other Securities
(other than a capital reorganization or reclassification resulting in the issue
of Additional Shares of Common Stock for which adjustment in the Purchase Price
is provided in Section 3.2.1 or 3.2.2), then, and in the case of each such
transaction, proper provision shall be made so that, upon the basis and the
terms and in the manner provided in this Warrant, the Holder of this Warrant,
upon the exercise hereof at any time after the consummation of such transaction
shall be entitled to receive (at the aggregate Purchase Price in effect at the
time of such consummation for all Common Stock or Other Securities issuable upon
such exercise immediately prior to such consummation), in lieu of the Common
Stock or Other Securities issuable upon such exercise prior to such
consummation, the amount of securities, cash or other property to which such
Holder would actually have been entitled as a stockholder upon such consummation
if such Holder had exercised this Warrant immediately prior thereto, subject to
adjustments (subsequent to such consummation) as nearly equivalent as possible
to the adjustments provided for in Sections 3 through 5.

                  4.2. Assumption of Obligations. Notwithstanding anything
contained in the Warrants or in the Purchase Agreement to the contrary, the
Company shall not effect any of the transactions described in clauses (a)
through (d) of Section 4.1 unless, prior to the consummation thereof, each
Person (other than the Company) which may be required to deliver any stock,
securities, cash or property upon the exercise of this Warrant as provided
herein shall assume, by written instrument delivered to, and reasonably
satisfactory to, the Holder of this Warrant, (a) the obligations of the Company
under this Warrant (and if the Company shall survive the consummation of such
transaction, such assumption shall be in addition to, and shall not release the
Company from, any continuing obligations of the Company under this Warrant), (b)
the obligations of the Company under the Purchase Agreement and the Registration
Rights Agreement and (c) the obligation to deliver to the Holder such shares of
stock, securities, cash or property as, in accordance with the foregoing
provisions of this Section 4, the Holder may be entitled to receive. Nothing in
this Section 4 shall be deemed to authorize the Company to enter into any
transaction not otherwise permitted by the Purchase Agreement.

                  5. OTHER DILUTIVE EVENTS. In case any event shall occur as to
which the provisions of Section 3 or Section 4 hereof are not strictly
applicable or if strictly applicable would not fairly protect the purchase
rights of the Holder in accordance with the essential intent and principles of
such Sections, then, in each such case, the Board of Directors of the Company

                                      -12-
<PAGE>   13
shall make an adjustment in the application of such provisions, in accordance
with such essential intent and principles, so as to preserve, without dilution,
the purchase rights represented by this Warrant.

                  6. NO DILUTION OR IMPAIRMENT. The Company shall not, by
amendment of its certificate of incorporation or through any consolidation,
merger, reorganization, transfer of assets, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such action as may be reasonably necessary or appropriate in order to protect
the rights of the Holder of this Warrant against dilution or other impairment.
Without limiting the generality of the foregoing, the Company (a) shall not
permit the par value of any shares of stock receivable upon the exercise of this
Warrant to exceed the amount payable therefor upon such exercise, (b) shall take
all such action as may be necessary or appropriate in order that the Company may
validly and legally issue fully paid and nonassessable shares of stock, free
from all taxes, liens, security interests, encumbrances, preemptive rights and
charges on the exercise of the Warrants from time to time outstanding, (c) shall
not take any action which results in any adjustment of the Purchase Price if the
total number of shares of Common Stock (or Other Securities) issuable after the
action upon the exercise of all of the Warrants would exceed the total number of
shares of Common Stock (or Other Securities) then authorized by the Company's
certificate of incorporation and available for the purpose of issue upon such
exercise, and (d) shall not issue any capital stock of any class which is
preferred as to dividends or as to the distribution of assets upon voluntary or
involuntary dissolution, liquidation or winding-up, unless the rights of the
holders thereof shall be limited to a fixed sum or percentage of par value or a
sum determined by reference to a formula based on a published index of interest
rates, an interest rate publicly announced by a financial institution or a
similar indicator of interest rates in respect of participation in dividends and
to a fixed sum or percentage of par value in any such distribution of assets.

                  7. CERTIFICATE AS TO ADJUSTMENTS. In each case of any
adjustment or readjustment in the shares of Common Stock (or Other Securities)
issuable upon the exercise of this Warrant, the Company at its expense shall
promptly compute such adjustment or readjustment in accordance with the terms of
this Warrant and prepare a certificate, signed by the Chairman of the Board,
President or one of the Vice Presidents of the Company, and by the Chief
Financial Officer, the Treasurer or one of the Assistant Treasurers of the
Company, setting forth such adjustment or readjustment and showing in reasonable
detail the method of calculation thereof and the facts upon which such
adjustment or readjustment is based, including a statement of (a) the
consideration received or to be received by the Company for any Additional
Shares of Common Stock issued or sold or deemed to have been issued, (b) the
number of shares of Common Stock outstanding or deemed to be outstanding, and
(c) the Purchase Price in effect immediately prior to such issue or sale and as
adjusted and readjusted (if required by Section 3) on account thereof. The
Company shall forthwith mail a copy of each such certificate to each holder of a
Warrant and shall, upon the written request at any time of any holder of a
Warrant, furnish to such holder a like certificate. The Company shall also keep
copies of all such certificates at its principal office and shall cause the same
to be available for inspection at such office during normal business hours by
any holder of a Warrant or any prospective purchaser of a Warrant designated by
the holder thereof. The Company shall, upon the request in writing of the

                                      -13-
<PAGE>   14
Holder (at the Company's expense), retain independent public accountants of
recognized national standing selected by the Board of Directors of the Company
to make any computation required in connection with adjustments under this
Warrant, and a certificate signed by such firm shall be conclusive evidence of
the correctness of such adjustment, which shall be binding on the Holder and the
Company.

                  8. NOTICES OF CORPORATE ACTION. In the event of:

                  (a) any taking by the Company of a record of the holders of
         any class of securities for the purpose of determining the holders
         thereof who are entitled to receive any dividend or other distribution,
         or any right to subscribe for, purchase or otherwise acquire any shares
         of stock of any class or any other securities or property, or to
         receive any other right, or

                  (b) any capital reorganization of the Company, any
         reclassification or recapitalization of the capital stock of the
         Company, any consolidation or merger involving the Company and any
         other Person, any transaction or series of transactions in which more
         than 50% of the voting securities of the Company are transferred to
         another Person, or any transfer, sale or other disposition of all or
         substantially all the assets of the Company to any other Person, or

                  (c) any voluntary or involuntary dissolution, liquidation or
         winding-up of the Company,

the Company shall mail to each holder of a Warrant a notice specifying (i) the
date or expected 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, and (ii) the date or expected date on which any
such reorganization, reclassification, recapitalization, consolidation, merger,
transfer, sale, disposition, dissolution, liquidation or winding-up is to take
place and the time, if any such time is to be fixed, as of which the holders of
record of Common Stock (or Other Securities) shall be entitled to exchange their
shares of Common Stock (or Other Securities) for the securities or other
property deliverable upon such reorganization, reclassification,
recapitalization, consolidation, merger, transfer, dissolution, liquidation or
winding-up. Such notice shall be mailed at least 20 days prior to the date
therein specified but in no event earlier than the public announcement of such
proposed transaction or event.

                  9. REGISTRATION OF COMMON STOCK. If any shares of Common Stock
required to be reserved for purposes of exercise of this Warrant require
registration with or approval of any governmental authority under any federal or
state law (other than the Securities Act) before such shares may be issued upon
exercise, the Company shall, at its expense and as expeditiously as possible,
use its best efforts to cause such shares to be duly registered or approved, as
the case may be. At any such time as Common Stock is listed on any national
securities exchange or trade market, the Company shall, at its expense, obtain
promptly and maintain the approval for listing on each such exchange or trade
market, upon official notice of issuance, the shares of Common Stock issuable
upon exercise of the then outstanding Warrants and maintain the listing of such
shares after their issuance; and the Company shall also list on such national
securities exchange or trade market, shall register under the Exchange Act and

                                      -14-
<PAGE>   15
shall maintain such listing of, any Other Securities that at any time are
issuable upon exercise of the Warrants, if and at the time that any securities
of the same class shall be listed on such national securities exchange or trade
market by the Company.

                  10. RESERVATION OF STOCK, ETC. The Company shall at all times
reserve and keep available, solely for issuance and delivery upon exercise of
the Warrants, 125% of the number of shares of Common Stock (or Other Securities)
from time to time issuable upon exercise of all Warrants at the time outstanding
and otherwise in accordance with the terms of the Purchase Agreement. All shares
of Common Stock (or Other Securities) issuable upon exercise of any Warrants
shall be duly authorized and, when issued upon such exercise, shall be validly
issued and, in the case of shares, fully paid and nonassessable with no
liability on the part of the holders thereof, and, in the case of all
securities, shall be free from all taxes, liens, security interests,
encumbrances, preemptive rights and charges. The transfer agent for the Common
Stock, which may be the Company (the "Transfer Agent"), and every subsequent
Transfer Agent for any shares of the Company's capital stock issuable upon the
exercise of any of the purchase rights represented by this Warrant, are hereby
irrevocably authorized and directed at all times until the Expiration Date to
reserve such number of authorized and unissued shares as shall be requisite for
such purpose. The Company shall keep copies of this Warrant on file with the
Transfer Agent for the Common Stock and with every subsequent Transfer Agent for
any shares of the Company's capital stock issuable upon the exercise of the
rights of purchase represented by this Warrant. The Company shall supply such
Transfer Agent with duly executed stock certificates for such purpose. All
Warrant Certificates surrendered upon the exercise of the rights thereby
evidenced shall be canceled, and such canceled Warrants shall constitute
sufficient evidence of the number of shares of stock which have been issued upon
the exercise of such Warrants. Subsequent to the Expiration Date, no shares of
stock need be reserved in respect of any unexercised Warrant.

                  11. REGISTRATION AND TRANSFER OF WARRANTS, ETC.

                  11.1. Warrant Register; Ownership of Warrants. Each Warrant
issued by the Company shall be numbered and shall be registered in a warrant
register (the "Warrant Register") as it is issued and transferred, which Warrant
Register shall be maintained by the Company at its principal office or, at the
Company's election and expense, by a Warrant Agent or the Company's transfer
agent. The Company shall be entitled to treat the registered Holder of any
Warrant on the Warrant Register as the owner in fact thereof for all purposes
and shall not be bound to recognize any equitable or other claim to or interest
in such Warrant on the part of any other Person, and shall not be affected by
any notice to the contrary, except that, if and when any Warrant is properly
assigned in blank, the Company may (but shall not be obligated to) treat the
bearer thereof as the owner of such Warrant for all purposes. A Warrant, if
properly assigned, may be exercised by a new holder without a new Warrant first
having been issued.

                  11.2. Transfer of Warrants. This Warrant and all rights
hereunder are transferable in whole or in part, without charge to the Holder
hereof, upon surrender of this Warrant with a properly executed Form of
Assignment attached hereto as Exhibit B at the principal office of the Company
together with an opinion of counsel, in generally acceptable form, to the effect
that such Warrant may be transferred pursuant to an exemption from registration
under the Securities Act of 1933 (or such other office or agency of the Company
as it

                                      -15-
<PAGE>   16
may in writing designate to the Holder). Upon any partial transfer, the
Company shall at its expense issue and deliver to the Holder a new Warrant of
like tenor, in the name of the Holder, which shall be exercisable for such
number of shares of Common Stock with respect to which rights under this Warrant
were not so transferred and to the transferee a new Warrant of like tenor, in
the name of the transferee, which shall be exercisable for such number of shares
of Common Stock with respect to which rights under this Warrant were so
transferred.

                  11.3. Replacement of Warrants. On receipt by the Company of
evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant and, in the case of any such loss, theft or
destruction of this Warrant, on delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of any such
mutilation, on surrender of such Warrant to the Company at its principal office
and cancellation thereof, the Company at its expense shall execute and deliver,
in lieu thereof, a new Warrant of like tenor.

                  11.4. Adjustments To Purchase Price and Number of Shares.
Notwithstanding any adjustment in the Purchase Price or in the number or kind of
shares of Common Stock purchasable upon exercise of this Warrant, any Warrant
theretofore or thereafter issued may continue to express the same number and
kind of shares of Common Stock as are stated in this Warrant, as initially
issued.

                  11.5. Fractional Shares. Notwithstanding any adjustment
pursuant to Section 3 in the number of shares of Common Stock covered by this
Warrant or any other provision of this Warrant, the Company shall not be
required to issue fractions of shares upon exercise of this Warrant or to
distribute certificates which evidence fractional shares. In lieu of fractional
shares, the Company shall make payment to the Holder, at the time of exercise of
this Warrant as herein provided, in an amount in cash equal to such fraction
multiplied by the Current Market Price of a share of Common Stock on the date of
Warrant exercise.

                  12. REMEDIES; SPECIFIC PERFORMANCE. The Company stipulates
that there would be no adequate remedy at law to the Holder of this Warrant in
the event of any default or threatened default by the Company in the performance
of or compliance with any of the terms of this Warrant and accordingly, the
Company agrees that, in addition to any other remedy to which the Holder may be
entitled at law or in equity, the Holder shall be entitled to seek to compel
specific performance of the obligations of the Company under this Warrant,
without the posting of any bond, in accordance with the terms and conditions of
this Warrant in any court of the United States or any State thereof having
jurisdiction, and if any action should be brought in equity to enforce any of
the provisions of this Warrant, the Company shall not raise the defense that
there is an adequate remedy at law. Except as otherwise provided by law, a delay
or omission by the Holder hereof in exercising any right or remedy accruing upon
any such breach shall not impair the right or remedy or constitute a waiver of
or acquiescence in any such breach. No remedy shall be exclusive of any other
remedy. All available remedies shall be cumulative.

                  13. NO RIGHTS OR LIABILITIES AS SHAREHOLDER. Nothing contained
in this Warrant shall be construed as conferring upon the Holder hereof any
rights as a stockholder of the Company or as imposing any obligation on the
Holder to purchase any

                                      -16-
<PAGE>   17
securities or as imposing any liabilities on the Holder as a stockholder of the
Company, whether such obligation or liabilities are asserted by the Company or
by creditors of the Company.

                  14. NOTICES. Any notices, consents, waivers or other
communications required or permitted to be given hereunder must be in writing
and will be deemed to have been delivered (i) upon receipt, when delivered
personally; (ii) upon receipt, when sent by facsimile, (iii) three days after
being sent by U.S. certified mail, return receipt requested, or (iv) one
Business Day after deposit with a nationally recognized overnight delivery
service, in each case properly addressed to the party to receive the same. The
addresses and facsimile numbers for such communications shall be:

                  If to the Company:

                           NTN Communications, Inc.
                           The Campus
                           5966 LaPlace Court
                           Carlsbad, California  92008
                           Telephone:  (760) 438-7400
                           Facsimile:   (760) 930-1187
                           Attn:  Stanley B. Kinsey

                  If to a Holder, to its address and facsimile number on the
register maintained by the Company. Each party shall provide five days' prior
written notice to the other party of any change in address or facsimile number.
Notwithstanding the foregoing, the exercise of any Warrant shall be effective in
the manner provided in Section 2.

                  15. AMENDMENTS. This Warrant and any term hereof may not be
amended, modified, supplemented or terminated, and waivers or consents to
departures from the provisions hereof may not be given, except by written
instrument duly executed by the party against which enforcement of such
amendment, modification, supplement, termination or consent to departure is
sought.

                  16. DESCRIPTIVE HEADINGS, ETC. The headings in this Warrant
are for convenience of reference only and shall not limit or otherwise affect
the meaning of terms contained herein. Unless the context of this Warrant
otherwise requires: (1) words of any gender shall be deemed to include each
other gender; (2) words using the singular or plural number shall also include
the plural or singular number, respectively; (3) the words "hereof", "herein"
and "hereunder" and words of similar import when used in this Warrant shall
refer to this Warrant as a whole and not to any particular provision of this
Warrant, and Section and paragraph references are to the Sections and paragraphs
of this Warrant unless otherwise specified; (4) the word "including" and words
of similar import when used in this Warrant shall mean "including, without
limitation," unless otherwise specified; (5) "or" is not exclusive; and (6)
provisions apply to successive events and transactions.

                  17. GOVERNING LAW. This Warrant shall be governed by, and
construed in accordance with, the laws of the State of New York (without giving
effect to the conflict of laws principles thereof).

                                      -17-
<PAGE>   18
                  18. JUDICIAL PROCEEDINGS. Any legal action, suit or proceeding
brought against the Company with respect to this Warrant may be brought in any
federal court in the District of Delaware or any state court located in New
Castle County, State of Delaware, and by execution and delivery of this Warrant,
the Company hereby irrevocably and unconditionally waives any claim (by way of
motion, as a defense or otherwise) of improper venue, that it is not subject
personally to the jurisdiction of such court, that such courts are an
inconvenient forum or that this Warrant or the subject matter may not be
enforced in or by such court. The Company hereby irrevocably and unconditionally
consents to the service of process of any of the aforementioned courts in any
such action, suit or proceeding by the mailing of copies thereof by registered
or certified mail, postage prepaid, at its address set forth or provided for in
Section 14, such service to become effective 10 days after such mailing. Nothing
herein contained shall be deemed to affect the right of any party to serve
process in any manner permitted by law or commence legal proceedings or
otherwise proceed against any other party in any other jurisdiction to enforce
judgments obtained in any action, suit or proceeding brought pursuant to this
Section. The Company irrevocably submits to the exclusive jurisdiction of the
aforementioned courts in such action, suit or proceeding.

                  19. REGISTRATION RIGHTS AGREEMENT. The shares of Common Stock
(and Other Securities) issuable upon exercise of this Warrant (or upon
conversion of any shares of Common Stock issued upon such exercise) shall
constitute Registrable Securities (as such term is defined in the Registration
Rights Agreement). Each holder of this Warrant shall be entitled to all of the
benefits afforded to a holder of any such Registrable Securities under the
Registration Rights Agreement and such holder, by its acceptance of this
Warrant, agrees to be bound by and to comply with the terms and conditions of
the Registration Rights Agreement applicable to such holder as a holder of such
Registrable Securities.

                  20. LIMITATION ON EXERCISE. Notwithstanding any provision to
the contrary contained herein, in no event shall the Holder be entitled to
exercise this Warrant, nor will the Company recognize such exercise, such that
upon giving effect to such exercise, the aggregate number of shares of Common
Stock then beneficially owned by the Holder and its "affiliates" as defined in
Rule 144 of the Act would exceed 4.99% of the total issued and outstanding
shares of the Common Stock following such exercise; provided, however, that
Holder may elect to waive this restriction upon not less than sixty-one (61)
days prior written notice to the Company. For purposes of this Section,
beneficial ownership shall be calculated in accordance with Section 13(d) of the
Exchange Act. For purposes of this Section 20, the Company shall not be held
liable under the penalty provisions of Section 2.6 as long as the Company acts
in good faith in its non-recognition of such exercise.

                                              NTN COMMUNICATIONS, INC.

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

                                      -18-
<PAGE>   19
                                    [FORM OF]
                           ELECTION TO PURCHASE SHARES
                         AND TRANSFER AGENT INSTRUCTIONS

                  The undersigned hereby irrevocably elects to exercise the
Warrant to purchase ____ shares of Common Stock, par value $.005 per share
("Common Stock"), of NTN COMMUNICATIONS, INC. (the "Company") and hereby [makes
payment of $________ in consideration therefor] [or] [makes payment in
consideration therefor by reduction pursuant to Section 2.1(b)(ii) of the
Warrant of the number of shares of Common Stock otherwise issuable to the Holder
upon Warrant exercise by ______ shares] [or] [makes payment in consideration
therefor by delivery of the following Common Stock Certificates of the Company
pursuant to Section 2.1(b)(iii) of the Warrant, certificates of which are
attached hereto for cancellation _______ [list certificates by number and
amount]]. The undersigned hereby requests that certificates for such shares be
issued and delivered as follows:

ISSUE TO:_______________________________________________________________________
                                     (NAME)
________________________________________________________________________________
                          (ADDRESS, INCLUDING ZIP CODE)
________________________________________________________________________________
                  (SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER)

DELIVER TO:_____________________________________________________________________
                                     (NAME)
________________________________________________________________________________
                          (ADDRESS, INCLUDING ZIP CODE)

                  If the number of shares of Common Stock purchased hereby is
less than the number of shares of Common Stock covered by the Warrant, the
undersigned requests that a new Warrant representing the number of shares of
Common Stock not so purchased be issued and delivered as follows:

ISSUE TO:_______________________________________________________________________
                                (NAME OF HOLDER)
________________________________________________________________________________
                          (ADDRESS, INCLUDING ZIP CODE)

DELIVER TO:_____________________________________________________________________
                                (NAME OF HOLDER)
________________________________________________________________________________
                          (ADDRESS, INCLUDING ZIP CODE)

Dated: _____________________                            [NAME OF HOLDER]

                                               By______________________________
                                                  Name:
                                                  Title:

         __________________, as transfer agent and registrar of the Common
Stock, is hereby authorized and directed to issue the above number of shares of
Common Stock in the name of the
<PAGE>   20
above referenced entity or person and to deliver
the certificates representing such shares using an overnight delivery service.

                                               NTN COMMUNICATIONS, INC.

                                               By:_____________________
                                                  Name:
                                                  Title:
<PAGE>   21
                                                   EXHIBIT B to
                                                   Common Stock Purchase Warrant

                              [FORM OF] ASSIGNMENT

                  FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and
transfers unto the Assignee named below all of the rights of the undersigned to
purchase Common Stock, par value $.005 per share ("Common Stock") of NTN
COMMUNICATIONS, INC. represented by the Warrant, with respect to the number of
shares of Common Stock set forth below:

<TABLE>
<CAPTION>
Name of Assignee                 Address                          No. of Shares
----------------                 -------                          -------------
<S>                              <C>                              <C>
</TABLE>

and does hereby irrevocably constitute and appoint ________ as Attorney to make
such transfer on the books of NTN COMMUNICATIONS, INC. maintained for that
purpose, with full power of substitution in the premises.

Dated: ____________________                             [NAME OF HOLDER]

                                               By_______________________________
                                                  Name:
                                                  Title:<PAGE>   1
                                                                   EXHIBIT 10.21

                              EMPLOYMENT AGREEMENT

         This Employment Agreement ("Agreement") is entered into by and between
Inland Paperboard and Packaging, Inc., a Delaware corporation (the "Company")
and Dale E. Stahl (the "Employee"), effective as of July 1, 2000.

WHEREAS, the Company and the Employee desire to set forth the terms and
conditions of the Employee's employment with the Company in writing;

         NOW, THEREFORE, in consideration of the above recitals and the mutual
promises and conditions contained below, the parties hereby agree as follows:

1.       EMPLOYMENT: The Employee's employment shall be subject to and
         conditioned upon Employee's furnishing documentation required by law
         and providing appropriate background information as required of
         salaried employees under the Company's normal hiring practices.
         Employee's employment with the Company shall commence as of July 1,
         2000 ("Employment Date").

2.       TITLE AND DUTIES: During the term of this Agreement, the Employee shall
         be employed by the Company as its President and Chief Operating
         Officer. Employee shall also serve as Group Vice President-Paper of the
         Company's parent, Temple-Inland Inc. ("Temple-Inland"). The Employee
         agrees to devote his full time, attention, skill and energy to the
         business and affairs of the Company and Temple-Inland, and will use his
         best efforts to promote the success of the Company and Temple-Inland.

3.       NO INCONSISTENT OBLIGATIONS: The Employee affirms that he is not bound
         by any contract or agreement with any other person or entity which
         would be violated by his employment with the Company under the terms
         and conditions of this Agreement.

4.       COMPENSATION: During the term of this Agreement, the Company shall pay
         the Employee no less than the following amounts:

<TABLE>
<CAPTION>

                                SALARY         MINIMUM BONUS       TOTAL CASH
<S>                            <C>            <C>                <C>
             Year 1            $325,000          $275,000           $600,000
             Year 2            $350,000          $275,000           $625,000
</TABLE>

         The Employee's compensation shall be paid according to the Company's
         normal pay/bonus cycle for executive officers; provided, however, that
         the bonus payable in February 2001 shall be a prorata amount based on
         Employee's length of service between the Employment Date and the
         initial bonus payment date. All payments shall be subject to all
         applicable tax withholding and deductions.

                                       1
<PAGE>   2

5.       BENEFITS:

         a.       BENEFIT PLANS: The Employee shall be eligible to participate
                  in the Company's health and welfare benefit plans, retirement
                  plan, 401(k) plan and any other benefit plans provided to
                  other salaried employees from time to time during his
                  employment according to the terms set forth in such plans.

         b.       VACATION: The Employee shall be eligible for four weeks paid
                  vacation and the Company's normal paid holidays, as provided
                  to other salaried employees from time to time during the term
                  of employment.

         c.       STOCK OPTIONS: Effective on July 3, 2000, Employee shall be
                  granted an option to purchase 25,000 shares of Temple-Inland
                  Inc. common stock at fair market value on the date of such
                  grant as determined under the Temple-Inland Inc. Stock Option
                  Plan. Thereafter, Employee shall be eligible to be considered
                  for additional stock option grants as a Tier I employee
                  beginning in 2001. Employee understands and agrees that the
                  Temple-Inland Inc. Management Development and Executive
                  Compensation Committee has full and complete discretion to
                  award options to employees and, other than the initial grant
                  described above, no subsequent grants are guaranteed to be
                  awarded or to be awarded in any particular amount.

6.       RELOCATION EXPENSES: The Company shall reimburse the Employee for all
         reasonable and customary expenses incurred by the Employee in
         relocating his principal residence to Indianapolis, Indiana under the
         Company's standard relocation policy; provided, that the Employee shall
         submit to the Company a normal expense voucher which will be subject to
         the approval of the Company. Employee shall complete his relocation no
         later than December 31, 2000.

7.       CHANGE IN CONTROL: In the event Employee's employment by the Company is
         terminated or Employee resigns for Good Reason, as defined below,
         within two (2) years following any Change in Control, Employee shall be
         paid the Compensation Amount in a lump sum within thirty (30) days of
         the date of such termination or resignation. In the event Company or
         Temple-Inland adopts a change in control plan or provisions for senior
         management, Employee shall receive the benefits of such plan or
         provisions if they provide a greater cash payment to Employee, but
         shall not receive both the payment under the Agreement and the payment
         under such new plan or provisions. This item 7 shall survive the
         termination of this Agreement. For purposes of this Agreement:

         a.       CHANGE IN CONTROL: "Change in Control" means (i) a merger or
                  consolidation to which the Company or Temple-Inland is a party
                  and for which the approval of any shareholders of the Company
                  or Temple-Inland is required; (ii) any "person" (as such term
                  is used in Sections 13(d) and

                                       2
<PAGE>   3

                  14(d)(2) of the Securities Exchange Act of 1934, as amended)
                  becoming the beneficial owner, directly or indirectly, of
                  securities representing 25% or more of the combined voting
                  power of the Company's or Temple-Inland's then outstanding
                  securities; (iii) a sale or transfer of substantially all of
                  the assets of the Company or Temple-Inland; or (iv) a
                  liquidation or reorganization of the Company or Temple-Inland.

         b.       COMPENSATION AMOUNT: "Compensation Amount" means the gross
                  amount of cash required to provide a net payment after
                  federal, state and local taxes to Employee equal to two (2)
                  times his annual cash compensation (salary and minimum bonus)
                  as set forth in item 3 above.

         c.       GOOD REASON: "Good Reason" means a substantial reduction in
                  the Employee's duties as set forth in item 2 above, a
                  reduction in Employee's annual cash compensation as set forth
                  in item 4 above or a failure to pay such compensation within
                  seven (7) days of the date such compensation is due, a
                  substantial reduction in Employee's benefits as set forth in
                  item 4(a) above, or the relocation of Employee's principal
                  place of employment to a location more than 15 miles from
                  Indianapolis, Indiana.

8.       TERMINATION OF AGREEMENT:

         a.       TERM: Except for the covenants set out in sections 7, 9 and
                  10, which shall survive, this Agreement shall terminate upon
                  the earliest to occur of the following:

                  i.   24 months from the Employment Date;

                  ii.  the Employee's death, resignation or retirement;

                  iii. immediately and without prior notice upon Disability of
                       the Employee (as defined below); or

                  iv.  immediately and without prior notice upon the
                       determination of the Company to terminate the Employee's
                       employment, with or without cause, for any reason.

         b.       DEFINITION OF DISABILITY: The Employee will be deemed to have
                  a "disability" if, for physical or mental reasons, the
                  Employee is unable to perform the essential functions of the
                  Employee's duties under this Agreement for one-hundred-twenty
                  (120) consecutive days, or one-hundred-eighty (180) days
                  during any twelve month period, as determined in accordance
                  with this Section 8(b). The disability of the Employee will be
                  determined by a physician selected by written agreement of the
                  Company and the Employee upon the request of either party by
                  notice to the other. If the Company and the Employee cannot
                  agree on the selection of a physician, each of them will
                  select a physician and the two physicians will select a third
                  physician who will determine whether the

                                       3
<PAGE>   4

                  Employee has a disability. The determination of the physician
                  selected under this Section 8(b) will be binding on both
                  parties. The Employee must submit to a reasonable number of
                  examinations by the physician making the determination of
                  disability under this Section 8(b), and the Employee hereby
                  authorizes the disclosure and release to the Company of such
                  determination and all supporting medical records. If the
                  Employee is not legally competent, the Employee's legal
                  guardian or duly authorized attorney-in-fact will act in the
                  Employee's stead, under this Section 8(b), for the purposes of
                  submitting the Employee to the examinations, and providing the
                  authorization of disclosure, required under this Section 8(b).

         c.       TERMINATION PAY: In the event that the Employee's employment
                  with the Company is terminated for any reason other than (i) a
                  Change in Control, (ii) the Employee's resignation, (iii)
                  retirement, (iv) disability, or (v) willful misconduct
                  (including, but not limited to, dishonesty, fraud,
                  embezzlement, gross insubordination, gross misconduct and the
                  like), the Employee shall be entitled to receive a severance
                  payment in a gross amount (less applicable tax withholdings)
                  equal to the projected two-year cash compensation set forth
                  above of $1,225,000 reduced by all cash compensation paid to
                  Employee up to and including the date of termination.

         d.       EMPLOYMENT-AT-WILL: If the Employee remains employed by the
                  Company at the termination of this Agreement pursuant to item
                  8.(a)(i) hereof, his employment shall be at-will and may be
                  terminated by either the Employee or the Company thereafter
                  without regard to this Agreement except as set forth in item 7
                  hereof.

9.       NON-DISCLOSURE COVENANT:

         a.       The Employee acknowledges that:

                  i.   During the Agreement the Employee will be afforded access
                       to trade secrets and confidential business information,
                       including but not limited to: corporate planning;
                       production; distribution or marketing processes;
                       manufacturing techniques; customer lists or customer
                       leads; marketing information or procedures; development
                       or environmental work; work in process; financial
                       statements or notes, schedules or supporting financial
                       data; or any other secret or confidential matter relating
                       to the products, sales or business of the Company or
                       Temple-Inland, including plans for expansion to new
                       products, areas and markets; new product development
                       budgets and forecasts, together with all written and
                       graphic materials relating thereto (collectively
                       "Confidential Information");

                                       4
<PAGE>   5

                  ii.  Public disclosure of such Confidential Information could
                       have an adverse effect on the Company and its business or
                       Temple-Inland and its business;

                  iii. The Employee's covenants in this Section 9 are a material
                       inducement for the Company to enter into this Agreement
                       and to allow the Employee access to the Confidential
                       Information; and

                  iv.  The provisions of this Section 9 are reasonable and
                       necessary to prevent improper use of Confidential
                       Information.

         b.       At all times during the term of this Agreement and thereafter,
                  the Employee shall hold in strictest confidence and not
                  disclose, directly or indirectly, to any person, firm or
                  corporation, without the express written prior authorization
                  of the Company or Temple-Inland, any Confidential Information.

10.      CONFIDENTIALITY: The parties agree that this Agreement is of a
         confidential nature and that neither the existence of this Agreement
         nor its terms shall be disclosed except (i) to consultants, advisors
         and affiliates (who shall be informed of and be bound by the terms of
         this Section 10), (ii) as required by securities laws or other law, or
         (iii) to the Internal Revenue Service in connection with an audit of
         any of the Company's or the Employee's tax returns.

11.      GOVERNING LAW: This Agreement will be governed by the laws of the
         United States and the State of Indiana, as applicable, without regard
         to conflicts of laws principles.

12.      MISCELLANEOUS:

         a.       The parties agree that the covenants and other terms contained
                  in this Agreement are reasonable in all respects.

         b.       The parties agree that each and every paragraph, sentence,
                  term and provision of this Agreement shall be considered
                  severable and that, in the event a court or other tribunal
                  finds any paragraph, sentence, term or provision to be invalid
                  or unenforceable, the validity, enforceability, operation or
                  effect of the remaining paragraphs, sentences, terms or
                  provisions shall not be affected.

         c.       The failure of either party to insist in any one or more
                  instances upon performance of any of the provisions of the
                  Agreement or to pursue their rights thereunder, shall not be
                  construed as a waiver of any such provisions or the
                  relinquishment of any rights.

         d.       Any notices, requests or other communications required
                  hereunder shall be in writing and shall be personally
                  delivered or, if mailed, by first class mail

                                       5
<PAGE>   6

                           If to the Company, to:

                           Inland Paperboard and Packaging, Inc.
                           4030 Vincennes Road
                           Indianapolis, Indiana  46268
                           Attn:  Steven L. Householder

                           If to the Employee, to:

                           Dale E. Stahl
                           4030 Vincennes Road
                           Indianapolis, Indiana  46268

         e.       This Agreement represents the sole and entire agreement among
                  the Employee and the Company relating to the Employee's
                  employment and supersedes all prior promises, contracts and
                  agreements of any kind, whether written or oral, express or
                  implied, as well as any negotiations and/or discussions
                  between the parties hereto. Any amendment to this Agreement
                  must be in writing and signed by duly authorized
                  representatives of each of the parties hereto and must
                  expressly state that it is the intention of each of the
                  parties hereto to amend this Agreement.

         f.       Except for the rights of the Company or Temple-Inland set
                  forth in Sections 9 and 10, this Agreement is for the benefit
                  of, and may be enforced only by, the Company and the Employee
                  and their respective assignees, heirs and personal
                  representatives, and is not for the benefit of, and may not be
                  enforced by, any other person or entity. This Agreement shall
                  be binding upon the successors and assigns of the Company.

Dated:
      ------------------------               -----------------------------------
                                             Dale E. Stahl

Dated:                                       INLAND PAPERBOARD AND PACKAGING,
      ------------------------               INC.

                                             BY:
                                                --------------------------------

                                       6

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