Document:

INSTANT VIDEO TECHNOLOGIES, INC.
                          REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") is dated effective as
of January 27, 2000 (the  "Effective  Date") by and among (i) the  purchasers of
certain  common  stock and  warrants  to  purchase  common  stock of the Company
(defined  below)  listed on the  signature  pages  hereto and each other  Person
(defined  below)  who  becomes  a party to this  Agreement  simultaneously  with
becoming a party pursuant to and in accordance with the terms and conditions set
forth in that certain Purchase Agreement (defined below) on, or before,  January
31, 2000 (each a "Holder" and,  collectively,  the  "Holders")  and (ii) Instant
Video Technologies, Inc., a Delaware corporation (the "Company").

                                    RECITALS

     The  Holders  are  parties to a  Securities  Purchase  Agreement  dated for
reference  purposes as of even date  herewith by and between the Company and the
Holders (the "Purchase Agreement") pursuant to which the Company is obligated to
enter into this Agreement.  All capitalized  terms not defined herein shall have
the meaning established in the Purchase Agreement.

                                    AGREEMENT

     NOW,  THEREFORE,  in  consideration  of the mutual  agreements,  covenants,
representations and warranties  contained in this Agreement,  the parties hereto
hereby agree as follows:

     1.   Definitions.

               "Commission" means the Securities and Exchange  Commission or any
other Federal agency at the time administering the Securities Act.

               "Common  Stock" means any and all (i) common stock of the Company
issued  pursuant to the  Purchase  Agreement;  (ii) common  stock of the Company
issued or issuable upon exercise of the Warrants (collectively, (i) and (ii) the
"Stock");  (iii)  common  stock of the  Company  issued as a  dividend  or other
distribution with respect to or in replacement of the Stock, and (iv) any common
stock issued in any  combination or subdivision of the Stock. In determining the
amount of Common Stock held by any Person,  the sum of (i), (ii), (iii) and (iv)
shall be used and a Person  shall be deemed to "hold" all Common Stock then held
by and/or issuable to such Person.

               "Exchange  Act" means the  Securities  Exchange  Act of 1934,  as
amended,  or any similar  Federal  statue and the rules and  regulations  of the
Commission thereunder all as the same shall be in effect at the time.

               "Person" means any individual,  corporation,  trust, partnership,
association, or other entity.

               "Registrable Shares" means the Common Stock.
<PAGE>
Registration Rights Agreement

               "Registration Statement" means the registration statement and any
additional  registration statements filed with the Commission as contemplated by
Section 2, including (in each case) any  prospectus,  amendments and supplements
to such registration statement or Prospectus, including pre- and post- effective
amendments,  all exhibits thereto, and all material incorporated by reference in
such registration statement or statements.

               "Securities Act" means the Securities Act of 1933, as amended, or
any similar  Federal  statute and the rules and  regulations  of the  Commission
thereunder, all as the same shall be in effect at the time.

               "Untrue  Statement" shall include any untrue statement or alleged
untrue  statement  in the  Registration  Statement,  or any  omission or alleged
omission to state in the  Registration  Statement a material fact required to be
stated therein or necessary to make the statements  therein, in the light of the
circumstances under which they were made, not misleading.

     2.1  Registration  Procedures and Expenses.  The Company is obligated to do
the following:

     The Company shall,

          (a) within 60 days  following the Closing Date,  prepare and file with
the  Commission a  Registration  Statement on Form S-1 in order to register with
the Commission under the Securities Act a sale by the Holders in accordance with
the method or methods of  distribution  thereof as  reasonably  specified by the
Holders  on a  delayed  or  continuous  basis  pursuant  to Rule 415  under  the
Securities Act all of the Registrable  Shares  (notwithstanding  anything to the
contrary  expressed or implied herein, if a registration  statement on Form S-3,
or any substitute  form,  becomes  available for registration of the Registrable
Shares,  the  Company  may  instead  prepare  and  file  with the  Commission  a
registration  statement  on  Form  S-3 at any  time in  order  to  register  the
Registrable Shares under the Securities Act and such registration statement will
be a "Registration Statement" for the purposes of this Agreement);

          (b) use its best efforts,  subject to receipt of necessary information
from the Holders,  to cause such  Registration  Statement to become effective no
later than 120 days following the Closing Date;

          (c)  promptly  notify  each  Holder,  at any  time  when a  prospectus
relating to such  Registration  Statement is required to be delivered  under the
Securities  Act,  of the  happening  of any  event  as a  result  of  which  the
prospectus  included in or relating to such Registration  Statement  contains an
Untrue Statement;

          (d) promptly prepare and file with the Commission, and deliver to each
Holder,  such amendments and supplements to such Registration  Statement and the
prospectus  used in  connection  therewith  as may be  necessary  to  keep  such
Registration  Statement  effective  and to  comply  with the  provisions  of the

                                       -2-
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Registration Rights Agreement

Securities Act with respect to the sale or other  disposition of all Registrable
Shares until termination of such obligation as provided in Section 2.6 below;

          (e) furnish to each Purchaser  such number of copies of  prospectuses,
including preliminary  prospectuses,  in conformity with the requirements of the
Securities  Act, in order to facilitate the public sale or other  disposition of
all or any of the Registrable Shares by the Holders;

          (f) file such  documents  as may be required of the Company for normal
securities law clearance for the resale of the  Registrable  Shares in any state
reasonably  requested by the Holders provided,  however,  that the Company shall
not be  required  in  connection  with this  paragraph  (f) to (i)  qualify as a
foreign  corporation to do business under the laws of any  jurisdiction in which
it shall not then be  qualified  or  execute a general  consent  to  service  of
process in any  jurisdiction  or (ii) undertake any filing  obligations in those
states where the Company does not currently meet such filing requirements;

          (g) use its best efforts to cause all Registrable  Shares to be listed
on each  securities  exchange,  quotation  system,  market  or  over-the-counter
bulletin  board,  if any,  on which  equity  securities  by the Company are then
listed or traded;

          (h) bear all expenses in connection  with this  Agreement,  including,
without  limitation,  all  registration  and filing fees (including all expenses
incident to filing with the NASD), printing expenses,  fees and disbursements of
counsel for company,  expenses of any special audits  incident to or required by
any such  registration and expenses of complying with the securities or blue sky
laws of any jurisdiction,  other than (i) fees and expenses,  if any, of counsel
or other advisors to the Holders and (ii) brokers commissions, discounts or fees
and transfer taxes; and

          (i) take all reasonable  actions  required to prevent the entry of any
stop  order  issued or  threatened  by the  Commission  or any state  regulatory
authority  with  respect  to any  Registration  Statement  covering  Registrable
Shares, and take all reasonable actions to remove it if entered.

     2.2  Indemnification

          (a) The Company  agrees to indemnify  and hold  harmless  each Holder,
such  Holder's  directors,  officers,  partners,  agents,  each  underwriter  of
Registered Shares, and each Person who controls any of the foregoing (within the
meaning of Section 15 of the Securities Act) (each an "Indemnified  Party") from
and against any losses, claims, damages or liabilities to which such Indemnified
Party may become subject (under the Securities Act or otherwise) insofar as such
losses,  claims,  damages or  liabilities  (or actions or proceedings in respect
thereof)  arise  out  of,  or  are  based  upon,  any  Untrue  Statement  in the
Registration  Statement,  or arise out of any  failure by the Company to fulfill
any  undertaking  included  in the  Registration  Statement  or arise  under the
Securities  Act or any other  statute  or at  common  law and the  Company  will

                                       -3-
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Registration Rights Agreement

reimburse  such  Indemnified  Party for any  reasonable  legal or other expenses
reasonably incurred in investigating,  defending or preparing to defend any such
action,  proceeding or claim;  provided,  however, that the Company shall not be
liable in any such case to the extent that such loss, claim, damage or liability
arises out of, or is based upon, an Untrue  Statement made in such  Registration
Statement in reliance upon and in conformity with written information  furnished
to the Company by or on behalf of such Indemnified Party specifically for use in
preparation  of the  Registration  Statement  or the  failure of such  Holder to
comply  with the  covenants  and  agreements  contained  in  Section  2.4 hereof
respecting  the sale of the  Registrable  Shares or any Untrue  Statement in any
prospectus that is corrected in any subsequent  prospectus that was delivered to
the Holder prior to the pertinent sale or sales by the Holder.

          (b) Each Holder,  severally  and not jointly,  agrees to indemnify and
hold  harmless the Company  (and each  person,  if any, who controls the Company
within the  meaning of Section 15 of the  Securities  Act,  each  officer of the
Company who signs the  Registration  Statement and each director of the Company)
from and against any losses, claims, damages or liabilities to which the Company
(or any such officer,  director or controlling person) may become subject (under
the  Securities Act or otherwise),  insofar as such losses,  claims,  damages or
liabilities (or actions or proceedings in respect  thereof) arise out of, or are
based upon, any failure to comply with the covenants and agreements contained in
Section 2.4 hereof  respecting  sale of the  Registrable  Shares,  or any Untrue
Statement  contained in the Registration  Statement if, but only if, such Untrue
Statement was made in reliance upon and in conformity  with written  information
furnished by or on behalf of such Holder  specifically for use in preparation of
the  Registration  Statement and such Holder will reimburse the Company (or such
officer,  director or controlling  person), as the case may be, for any legal or
other expenses reasonably  incurred in investigating,  defending or preparing to
defend any such action, proceeding or claim; provided that in no event shall any
indemnity by a Holder under this Section 2.2 exceed the net proceeds received by
such Holder from the sale of the Registrable Shares covered by such Registration
Statement.

          (c) Promptly after receipt by any indemnified  person of a notice of a
claim or the  beginning  of any action in respect  of which  indemnity  is to be
sought  against an  indemnifying  person  pursuant  to this  Section  2.2,  such
indemnified person shall notify the indemnifying person in writing of such claim
or  of  the  commencement  of  such  action,  and,  subject  to  the  provisions
hereinafter  stated,  in case  any  such  action  shall be  brought  against  an
indemnified  person  and such  indemnifying  person  shall  have  been  notified
thereof, such indemnifying person shall be entitled to participate therein, and,
to the  extent it shall  wish,  to assume  the  defense  thereof,  with  counsel
reasonably  satisfactory  to such  indemnified  person.  After  notice  from the
indemnifying  person to such  indemnified  person of its  election to assume the
defense  thereof,   such  indemnifying  person  shall  not  be  liable  to  such
indemnified  person  for  any  legal  expenses  subsequently  incurred  by  such
indemnified  person in connection with the defense thereof;  provided,  however,
that if there

                                       -4-
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Registration Rights Agreement

exists or shall exist a conflict of interest  that would make it  inappropriate,
in the opinion of counsel to the  indemnified  person,  for the same  counsel to
represent  both the  indemnified  person  and such  indemnifying  person  or any
affiliate  or associate  thereof,  the  indemnified  person shall be entitled to
retain its own counsel at the  expense of such  indemnifying  person;  provided,
however,  that no  indemnifying  person  shall be  responsible  for the fees and
expenses of more than one  separate  counsel  for all  indemnified  parties.  No
indemnifying party in the defense of any such claim or litigation shall,  except
with the consent of each indemnified party,  consent to entry of any judgment or
enter into any settlement that does not include as an unconditional term thereof
the giving by the claimant or plaintiff to such  indemnified  party of a release
from all liability in respect of such claim or  litigation,  and no  indemnified
party shall  consent to entry of any judgment or settle such claim or litigation
without the prior written consent of the indemnifying party.

          (d) If the indemnification provided for in this Section 2.2 is held by
a court of competent jurisdiction to be unavailable to an indemnified party with
respect to any loss,  liability,  claim, damage, or expense referred to therein,
then the  indemnifying  party, in lieu of indemnifying  such  indemnified  party
hereunder,  shall  contribute to the amount paid or payable by such  indemnified
party as a result of such loss,  liability,  claim,  damage,  or expense in such
proportion as is appropriate  to reflect the relative fault of the  indemnifying
party on the one hand and of the  indemnified  party on the other in  connection
with the statements or omissions that resulted in such loss,  liability,  claim,
damage, or expense as well as any other relevant equitable  considerations.  The
relative fault of the indemnifying  party and of the indemnified  party shall be
determined by reference  to, among other  things,  whether the untrue or alleged
untrue  statement  of material  fact or the  omission  to state a material  fact
relates to information  supplied by the indemnifying party or by the indemnified
party and the parties' relative intent,  knowledge,  access to information,  and
opportunity to correct or prevent such  statement or omission.  No Person guilty
of  fraudulent  misrepresentation  (within the  meaning of Section  11(f) of the
Securities  Act) shall be entitled to  contribution  from any Person who was not
guilty of such  fraudulent  misrepresentation.  Notwithstanding  anything to the
contrary  contained  herein,  any  contribution by a Holder  hereunder shall not
exceed the net  proceeds  received  by such  Holder  from the sale of the Shares
covered by the Registration Statement.

     2.3  Penalty Payment.

          (a) In the event that the Registration  Statement required to be filed
pursuant to Section 2.1  relating to  Registrable  Shares  shall not be declared
effective  by the  Commission  within  one  hundred  twenty  (120) days from the
Closing Date (the "Final Registration Date"), the Company shall pay each Holder,
in cash, one percent (1%) of such Holder's  Purchase Price (prorated for partial
periods)  with such payment made  pursuant to this Section 2.3 (referred to as a
"Penalty  Payment"),  within  ten (10) days of the end of each  thirty

                                       -5-
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Registration Rights Agreement

(30) day period following the Final Registration Date, for each such thirty (30)
day  period,  until  the  earlier  to  occur  of (i)  the  effectiveness  of the
Registration  Statement covering the Registrable Shares, or (ii) until each such
Holder is permitted to publicly  sell all of the shares of Common Stock owned by
such Holder during any 3 month period pursuant to Rule 144. For example,  if the
Registration  Statement becomes effective on the 135th day following the Closing
Date, the Penalty Payment shall equal 1/2% of such Holder's Purchase Price.

          (b) The remedies provided for in this Section 2.3 shall be in addition
to any other remedies  available to the Holders under this Agreement,  at law or
in equity.

     2.4  Transfer  of Shares  After  Registration;  Notice.  The Holder  hereby
covenants with the Company not to make any sale of the Registrable  Shares after
registration  without effectively  causing the prospectus  delivery  requirement
under the Securities Act to be satisfied. The Holder acknowledges that there may
be times when the Company must suspend the use of the prospectus  forming a part
of  the  Registration   Statement  until  such  time  as  an  amendment  to  the
Registration  Statement has been filed by the Company and declared  effective by
the  Commission,  or until  such time as the  Company  has filed an  appropriate
report with the  Commission  pursuant to the  Exchange  Act.  The Holder  hereby
covenants that it will not sell any Shares  pursuant to said  prospectus  during
the period  commencing  at the time at which the Company gives the Holder notice
of the  suspension  of the use of said  prospectus  and  ending  at the time the
Company  gives the Holder  notice that the Holder may  thereafter  effect  sales
pursuant to said prospectus;  provided, however, that no such postponement shall
be permitted  for more than 90 days during any 12 month  period.  The  foregoing
provisions of this Section 2.4 shall in no manner  diminish or otherwise  impair
the Company's obligations under Section 2.1.

     2.5  Reporting Requirements.

          (a)  The Company agrees to use its best efforts to:

               (i)  make and keep public information  available,  as those terms
are understood and defined in Rule 144 under the Securities Act;

               (ii) file with the  Commission in a timely manner all reports and
other  documents  required  of the  Company  under  the  Securities  Act and the
Exchange Act; and

               (iii) so long as any of the Holders own  Registrable  Shares,  to
furnish to the Holders  forthwith  upon  request (1) a written  statement by the
Company as to whether it complies with the reporting  requirements  of said Rule
144,  the  Securities  Act and the  Exchange  Act, or whether it  qualifies as a
registrant whose securities may be resold pursuant to Commission Form S-3, (2) a
copy of the most recent annual or quarterly report of the Company and such other
reports and documents so filed by the Company, and

                                       -6-
<PAGE>
Registration Rights Agreement

(3) such other  information  as may be  reasonably  requested  in  availing  the
Holders  of any rule or  regulation  of the  Commission  that  would  permit the
selling of the Registrable Shares without registration.

     2.6  Termination of Obligations. The obligations of the Company pursuant to
Sections  2.1 through 2.5 hereof shall cease and  terminate  upon the earlier to
occur of (i) such time as all of the Registrable Shares have been resold or (ii)
such time as all of the Registrable Shares may be sold during any 3 month period
pursuant  to  Rule  144,  including  Rule  144  (k) or  (iii)  upon  the  second
anniversary date of the date of effectiveness of the Registration Statement.

     2.7. Assignability  of Registration  Rights.  The  Registration  rights set
forth in this Section 2 are assignable only to assignees acquiring the lesser of
250,000 or more Registrable Shares or all of a Holder's  Registrable Shares held
at the time of assignment.  Notwithstanding  anything to the contrary herein, in
no event shall a Holder of less than 250,000  Registrable  Securities assign any
rights  herein  after 30 days  following  the  Effective  Date and  prior to the
effectiveness of the Registration  Statement.  Provided further that the Company
shall not be obligated to file any post-effective  amendment to the Registration
Statement  solely for the purpose of adding such assignee(s) to the Registration
Statement more than once during any consecutive  six month period.  For purposes
of this  Section  2.7 only,  the SSF  Purchasers  (as  defined  in the  Purchase
Agreement) shall be considered one Holder.

     3    Miscellaneous.

          a.   Consent to  Amendments.  Except as otherwise  expressly  provided
herein,  the  provisions of this  Agreement may be amended and/or the provisions
hereof  waived,  only with the  written  consent of the  Company  and of Holders
holding  sixty-six and two-thirds  percent (66 2/3%) or more of the  Registrable
Shares at the time held by all  Holders  (which  must  include  the  Registrable
Shares  held by the SSF  Purchasers,  as  defined  in the  Purchase  Agreement).
Notwithstanding  the foregoing,  no amendment or waiver may affect any Holder in
any manner differently from any other Holder without the written consent of such
first mentioned  Holder. No course of dealing between the Company and any Holder
or any  delay  in  exercising  any  rights  hereunder  or  under  the  Company's
Certificate of Incorporation  will operate as a waiver of any rights of any such
Holder.

          b.   Successors and Assigns. All covenants and agreements contained in
this Agreement by or on behalf of any of the parties hereto shall bind and inure
to the benefit of the  respective  successors  and assigns of the parties hereto
whether so expressed or not.

                                       -7-
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Registration Rights Agreement

          c.   Severability.   Each  provision  of  this   Agreement   shall  be
interpreted  in such manner as to be effective and valid under  applicable  law,
but if any  provision of this  Agreement is held to be  prohibited by or invalid
under  applicable law, such provision shall be ineffective only to the extent of
such  prohibition  or  invalidity,  without  invalidating  the remainder of this
Agreement.

          d.   Counterparts.  This  Agreement  may be  executed  in two or  more
counterparts,  any one of which need not contain the signatures of more than one
party,  but all such  counterparts  when taken together shall constitute one and
the same Agreement.

          e.   Descriptive Headings.  The descriptive headings of this Agreement
are  inserted  for  convenience  only  and do not  constitute  a  part  of  this
Agreement.

          f.   Notices. All notices,  demands,  consents or other communications
required or permitted  hereunder shall be in writing and shall be deemed to have
been given (i) when personally delivered, (ii) three (3) business days following
mailing  thereof,  if  sent  by  first  class  certified  mail,  return  receipt
requested,  or (iii) the next business day following transmission or mailing, if
sent  by  facsimile  (receipt  confirmed  and  followed  up by one of the  other
delivery  methods  discussed herein as well),  Express Mail,  Federal Express or
similar service, addressed as follows:

     If to any Holder:    To the applicable addresses set forth in the Purchase
                          Agreement

     With a Copy to:      Winston & Strawn
                          200 Park Avenue
                          New York, N.Y. 10166-4193
                          Attn. Naima K. Walker, Esq.
                          Fax No.: (212) 294-4700

     If to the Company:   Instant Video Technologies, Inc.
                          500 Sansome Street, Suite 503
                          San Francisco, CA  94111
                          Attn: Ed Davis, Esq.
                          Fax No.: (415) 391-3392

     With a Copy to:      Bay Venture Counsel, LLP
                          1999 Harrison Street, Suite 1300
                          Oakland, CA 94612
                          Attn: Donald C. Reinke, Esq.
                          Fax No.: (510) 834-7440

Any party  may  change  its  address  for  purposes  hereof  by notice  given in
accordance with this Section 3.f to each of the other parties hereto.

          g. Governing Law. The validity,  meaning and effect of this Agreement,
and  all  amendments  and  supplements  hereto  and  all  waivers  and  consents
hereunder,  shall  be  determined  in  accordance  with  the  laws of New  York,
applicable to contracts  made and to be performed  entirely  within the State of
New York.  Each of the parties  hereby submits to personal  jurisdiction  in the
County of New York,

                                       -8-
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Registration Rights Agreement

State of New York solely for purposes of this Agreement and waives any objection
as to venue in the County of New York, State of New York.

          h.   Schedules  and  Exhibits.  All  schedules  and  exhibits  are  an
integral part of this Agreement.

          i.   Litigation Costs.  Subject to Section 2.2, if any legal action or
any  arbitration  or other  proceeding  is brought for the  enforcement  of this
Agreement,  or because of a dispute,  breach,  default, or  misrepresentation in
connection  with any of the  provisions  of this  Agreement,  the  successful or
prevailing party or parties shall be entitled to recover  reasonable  attorneys'
fees and other costs incurred in that action or  proceeding,  in addition to any
other relief to which it or they may be entitled, if and only to the extent that
the  applicable  arbitrator or court shall so direct and such direction is final
and not subject to appeal or review.

          j.   Specific   Performance.   Each  party's   obligation  under  this
Agreement is unique.  If any party should default in its obligations  under this
Agreement, the parties each acknowledge that it would be extremely impracticable
to measure the resulting  damages;  accordingly,  each non defaulting  party, in
addition  to any other  available  rights  or  remedies,  may sue in equity  for
specific  performance,  and the parties each expressly  waive the defense that a
remedy in damages will be adequate.

          k.   Integration.  This instrument constitutes the entire agreement of
the parties hereto respecting the registration of the Registrable  Shares by the
Holders and correctly  sets forth the rights,  duties,  and  obligations of each
party  hereto  to the  others in  relation  thereto  as of its  date.  Any prior
agreements,  promises,  negotiations or  representations  concerning its subject
matter which are not expressly set forth in this Agreement.

          l.   No Inconsistent Agreements.  The Company will not hereafter enter
into any agreement with respect to its securities that is  inconsistent  with or
violates  the  rights  granted  to the  holders  of  Registrable  Shares in this
Agreement.

                             (SIGNATURES FOLLOWING)

                                       -9-
<PAGE>
   Signature Pages to Instant Video Technologies Registration Rights Agreement

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

THE COMPANY:

INSTANT VIDEO TECHNOLOGIES, INC.

By:
   -----------------------------
Name:  Richard Lang
Title:  Chairman and CEO
Address: 500 Sansome Street
         San Francisco, California 94111
Facsimile No.: (415) 391-3392

THE SPECIAL SITUATIONS FUNDS:

SPECIAL SITUATIONS FUND III, L.P.           SPECIAL SITUATIONS CAYMAN FUND, L.P.

By:                                         By:
   -----------------------------               -----------------------------
Name: David Greenhouse                      Name: David Greenhouse
Title: Managing Director                    Title: Managing Director
Address: 153 E. 53rd Street,                Address: 153 E. 53rd Street,
         55th Floor                                  55th Floor
         New York, New York 10022                    New York, New York 10022
Facsimile No.:  (212) 207-6515              Facsimile No.: (212) 207-6515
Residence:  New York                        Residence: Cayman Islands

SPECIAL SITUATIONS PRIVATE EQUITY           SPECIAL SITUATIONS TECHNOLOGY
FUND, L.P.                                  FUND, L.P.

By:                                         By:
   -----------------------------               -----------------------------
Name: David Greenhouse                      Name: David Greenhouse
Title: Managing Director                    Title: Managing Director
Address: 153 E. 53rd Street,                Address: 153 E. 53rd Street,
         55th Floor                                  55th Floor
         New York, New York 10022                    New York, New York 10022
Facsimile No.:  (212) 207-6515              Facsimile No.: (212) 207-6515
Residence:  New York                        Residence: New York

                                      S-1
<PAGE>
OTHER PURCHASERS:

BAYSTAR CAPITAL, L.P.                       BAYSTAR CAPITAL, L.P.

By:                                         By:
   -----------------------------               -----------------------------
Name: Steven Lamar                          Name: Steven Lamar
Title: Managing Partner                     Title: Managing Partner
Address: 425 Market Street,                 Address: 425 Market Street,
         22nd Floor                                  22nd Floor
         San Francisco, CA  94105                    San Francisco, CA  94105
Facsimile No.: (415) 512-6488               Facsimile No.: (415) 512-6488
Residence: California                       Residence: California

BAYSTAR INTERNATIONAL LIMITED               CHELSEY CAPITAL

By:                                         By:
   -----------------------------               -----------------------------
Name: Steven Lamar                          Name: Erik Franklin
Title: Managing Partner                     Title:
Address: 425 Market Street,                 Address: 1370 Avenue of the
         22nd Floor                                  Americas
         San Francisco, CA  94105                    New York, New York 10019
Facsimile No.: (415) 512-6488               Facsimile No.: (212) 399-5651
Residence: California                       Residence: New York

ERIK FRANKLIN

By:
   -----------------------------
Name: Erik Franklin
Title:
Address: c/o Chelsey Capital
         1370 Avenue of the
         Americas
         New York, New York 10019
Facsimile No.: (212) 399-5651
Residence:

                                      S-2
<PAGE>
RAVINIA CAPITAL VENTURES                    STORIE PARTNERS L.P.

By:                                         By:
   -----------------------------               -----------------------------
Name: Kevin Eilian                          Name: Steven A. Ledger
Title: Managing Member                      Title: Managing Partner
Address: 2025 Broadway, Suite 30H           Address: 100 Pine Street,
         New York, N.Y. 10023                        Suite 2700
Facsimile No.: (212) 362-1238                        San Francisco, CA 94111
Residence: New York                         Facsimile No.: (415) 434-8043
                                            Residence: California

MERCER MANAGEMENT, INC.                     REED SLATKIN

By:                                         By:
   -----------------------------               -----------------------------
Name: Gordon Rock                           Address: 890 North Kellogg Avenue
Title: President                                     Santa Barbara, CA 93111
Address: 4820 East Mercer Way               Facsimile No.: (805) 967-3844
         Mercer Island, WA 98040            Residence: California
Facsimile No.: (206) 232-6874
Residence: Washington

                                            KYLE FAULKNER
                                            CHARLES SCHWAB & CO., INC.
                                            CUSTODIAN FBO
ROBERT LONDON                               KYLE WILKE FAULKNER SEP-IRA

By:                                         By:
   -----------------------------               -----------------------------
Address: c/o Cruttenden & Roth              Title: Chief Technology Officer
         809 Presidio Avenue                       Instant Video Technologies,
         Santa Barbara, CA 93101                   Inc
Facsimile No.: (805) 966-9302               Address: 5690 Ocean View Drive
Residence: California                                Oakland, CA 94618
                                            Facsimile No.: __________________
                                            Residence: California

                                            DONALD C. REINKE
DOROTHY LYDDON TRUST                        (Reinke Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Name: Dorothy Lyddon                        Address: Bay Venture Counsel, LLP
Title: Trustee                                       Lake Merritt Plaza
Address: 11801 Dorothy Anne Way                      Building
         Cupertino, CA 95014                         1999 Harrison Street,
Facsimile No.: (408) 252-6122                        Suite 1300
Residence: California                                Oakland, CA 94612
                                            Facsimile No.: (510) 834-7440
                                            Residence: California

                                      S-3
<PAGE>
BRADLEY H. REINKE                           JAMES L. BERG
(Reinke Investment Group)                   (Reinke Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: Bay Venture Counsel, LLP           Address: Bay Venture Counsel, LLP
         Lake Merritt Plaza                          Lake Merritt Plaza
         Building                                    Building
         1999 Harrison Street,                       1999 Harrison Street,
         Suite 1300                                  Suite 1300
         Oakland, CA 94612                           Oakland, CA 94612
Facsimile No.: (510) 834-7440               Facsimile No.: (510) 834-7440
Residence: California                       Residence: California

ROGER E. REINKE, TRTE                       GREGORY L. BEATTIE
(Reinke Investment Group)                   (Reinke Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: Bay Venture Counsel, LLP           Address: Bay Venture Counsel, LLP
         Lake Merritt Plaza                          Lake Merritt Plaza
         Building                                    Building
         1999 Harrison Street,                       1999 Harrison Street,
         Suite 1300                                  Suite 1300
         Oakland, CA 94612                           Oakland, CA 94612
Facsimile No.: (510) 834-7440               Facsimile No.: (510) 834-7440
Residence: California                       Residence: California

BRUCE WHITLEY                               STEPHEN P. PEZZOLA
(Reinke Investment Group)                   (Reinke Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: Bay Venture Counsel, LLP           Address: Bay Venture Counsel, LLP
         Lake Merritt Plaza                          Lake Merritt Plaza
         Building                                    Building
         1999 Harrison Street,                       1999 Harrison Street,
         Suite 1300                                  Suite 1300
         Oakland, CA 94612                           Oakland, CA 94612
Facsimile No.: (510) 834-7440               Facsimile No.: (510) 834-7440
Residence: California                       Residence: California

BRUCE P. JOHNSON                            ANN LOUISE MICEK
(Reinke Investment Group)                   (Micek Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: Bay Venture Counsel, LLP           Address: c/o 3600 West Bayshore
         Lake Merritt Plaza                          Suite 101
         Building                                    Palo Alto, CA 94303
         1999 Harrison Street,              Facsimile No.: (650) 325-0830
         Suite 1300                         Residence: California
         Oakland, CA 94612
Facsimile No.: (510) 834-7440
Residence: California

                                      S-4
<PAGE>
ELISSA MICEK                                REECE MICEK
(Micek Investment Group)                    (Micek Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: c/o 3600 West Bayshore             Address: c/o 3600 West Bayshore
         Suite 101                                   Suite 101
         Palo Alto, CA 94303                         Palo Alto, CA 94303
Facsimile No.: (650) 325-0830               Facsimile No.: (650) 325-0830
Residence: California                       Residence: California

LAURA MICEK                                 KAROLYN KELLY
(Micek Investment Group)                    (Micek Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: c/o 3600 West Bayshore             Address: c/o 3600 West Bayshore
         Suite 101                                   Suite 101
         Palo Alto, CA 94303                         Palo Alto, CA 94303
Facsimile No.: (650) 325-0830               Facsimile No.: (650) 325-0830
Residence: California                       Residence: California

JOHN J. MICEK III                           INDEPENDENCE PROPERTIES LLC
(Micek Investment Group)

By:                                         By:
   -----------------------------               -----------------------------
Address: c/o 3600 West Bayshore             Name: Joseph Barletta
         Suite 101                          Title:
         Palo Alto, CA 94303                Address: 530 Westgate Drive
Facsimile No.: (650) 325-0830                        Napa, CA  94558
Residence: California                       Facsimile No.: (707) 256-0877
                                            Residence: California

DOUGLAS GLEN                                GREG FRIEDMAN

By:                                         By:
   -----------------------------               -----------------------------
Address: 507 Bayview Drive                  Address: 4138 Terrace Street
         Manhattan Beach, CA 90266                   Oakland, CA 94611
Facsimile No.: (310) 376-6248               Facsimile No.: __________________
Residence: California                       Residence: California

                                      S-5
<PAGE>
FRANK KRAMER                                RYAN ALLISON

By:                                         By:
   -----------------------------               -----------------------------
Address: 5330 E. 17th Avenue                Address: 2520 West Lake Avenue North
         Denver, CO 80203                            Suite 200
Facsimile No.: (303) 394-1189                        Seattle, WA 98109
Residence: Colorado                         Facsimile No.: (206) 352-6310
                                            Residence: Washington

ARTHUR DOUGLAS ALLEN                        SUZANNE M. LENTZ

By:                                         By:
   -----------------------------               -----------------------------
Address: 1322 Isabella Avenue               Address: 3337 Broderick
         Mountain View, CA 94040                     San Francisco, CA 94123
Facsimile No.: (650) 948-2989               Facsimile No.: __________________
Residence: California                       Residence: California

KEITH KOCH                                  BRUCE HENSEL

By:                                         By:
   -----------------------------               -----------------------------
Address: 1120 Lincoln Street, Suite 900     Address: 1212 Old Orchard Road
         Denver, CO 80203                            Vincennes, IN 47591
Facsimile No.: (303) 863-7080               Facsimile No.: (812) 882-8279
Residence: Colorado                         Residence: Indiana

UNIVERSAL ASSURORS AGENCY, INC.             THOMAS KOSHY

By:                                         By:
   -----------------------------               -----------------------------
Name: John J. Micek III                     Title: Chief Operating Officer
Title:                                             Instant Video Technologies,
      --------------------------                   Inc
Address: 3600 West Bayshore, Suite 101      Address: 500 Beal Street, Suite 320
         Palo Alto, CA 94303                         San Francisco, CA 94105
Facsimile No.: (650) 325-0830               Facsimile No.: __________________
Residence: California                       Residence: California

                                      S-6
<PAGE>
JUNE S. WHITE                               HAN JOO LEE

By:                                         By:
   -----------------------------               -----------------------------
Title: Vice President, Engineering          Address: 5509 Ash Creek Lane
       Instant Video Technologies, Inc.              Plano, TX 75093
Address: 20 Plaid Place                     Facsimile No.: (972) 699-7586
         Hillsborough, CA 94010             Residence: Texas
Facsimile No.: __________________
Residence: California

YUAN MENG                                   BAY VENTURE COUNSEL, LLP

By:                                         By:
   -----------------------------               -----------------------------
Address: 281 Alvarado Avenue                Name: Donald C. Reinke
         Los Altos, CA 94022                Title: Managing Partner
Facsimile No.: (650) 947-7168               Address: Bay Venture Counsel, LLP
Residence: California                                Lake Merritt Plaza
                                                     Building
                                                     1999 Harrison Street,
                                                     Suite 1300
                                                     Oakland, CA 94612
                                            Facsimile No.: (510) 834-7440
                                            Residence: California

VINCE SAKOWSKI                              JOHN WORTHING

By:                                         By:
   -----------------------------               -----------------------------
Address: 845 Oak Grove Avenue               Address: 845 Oak Grove Avenue,
         Suite 105                                   Suite 105
         Menlo Park, CA 94025                        Menlo Park, CA 94025
Facsimile No.: (650) 327-6699               Facsimile No.: (650) 327-6699
Residence: California                       Residence: California

ROBERT WALTER                               MICHAEL MOSKOWITZ

By:                                         By:
   -----------------------------               -----------------------------
Address: 1700 Lincoln Street.               Title: Vice President, Business
         Suite 4700                                Development
         Denver, CO 80203-4547                     Instant Video Technologies,
Facsimile No.: (303) 830-1705                      Inc.
Residence:   Colorado                       Address: 200 Eagle Street
                                                     San Francisco, CA 94114
                                            Facsimile No.: __________________
                                            Residence: California

                                      S-7
<PAGE>
                                            R&T SHEPPARD FAMILY PARTNERS
THOMAS A. BELL                              ROGER SHEPPARD, General Partner

By:                                         By:
   -----------------------------               -----------------------------
Address: 5536 Manila Avenue                 Name: Roger Sheppard,
         Oakland, CA 94618                        General Partner
Facsimile No.: __________________           Address: 14 Bracken Court
Residence: California                                San Rafael, CA 94901
                                            Facsimile No.: (415) 456-0907
                                            Residence: California

SONJA ERICKSON                              FRANK H. SCHWARTZ

By:                                         By:
   -----------------------------               -----------------------------
Address: 887 Indian Rock Avenue             Title: Vice President, Technology
         Berkeley, CA 94707                        Partnerships
Facsimile No.: __________________                  Instant Video Technologies,
Residence: California                              Inc
                                            Address: 351 W. Oakwood Boulevard
                                                     Redwood City, CA 94061
                                            Facsimile No.: (650) 562-0220
                                            Residence: California

STEVEN HEIST                                JAMES E. LANDY

By:                                         By:
   -----------------------------               -----------------------------
Address: 30 Corwin Street, Apt. 12          Address: 8 Bond Place
         San Francisco, CA 94114                     Mt. Holly, NJ  08060
Facsimile No.: __________________           Facsimile No.: (609) 261-8155
Residence: California                       Residence: New Jersey

ZHIPING LIU                                 KIMBERLEY L. MASSINGALE

By:                                         By:
   -----------------------------               -----------------------------
Address: 36 Avalon Avenue                   Address: 5270 Boyd Avenue
         San Francisco, CA 94112                     Oakland, CA 94618
Facsimile No.: __________________           Facsimile No.: __________________
Residence: California                       Residence: California

                                      S-8
<PAGE>
FRANCIS E. VEGLIANTE                        RICHARD P. TREVOR

By:                                         By:
   -----------------------------               -----------------------------
Address: 15010 Eaglerise Drive              Address: 919 Hillcroft Circle
         Lithia, FL 33547                            Oakland, CA 94610
Facsimile No.: (813) 662-2774               Facsimile No.: __________________
Residence: Florida                          Residence: California

EVAN ZHANG                                  ED LYONS

By:                                         By:
   -----------------------------               -----------------------------
Address: 1458 39th Avenue                   Address: 918 Jackson Street
         San Francisco, CA 94122                     Albany, CA 94706
Facsimile No.: __________________           Facsimile No.: __________________
Residence: California                       Residence: California

ALLAN BER                                   PAUL SOC BANH

By:                                         By:
   -----------------------------               -----------------------------
Address: 1259 6th Avenue                    Address: 3713 Langdon Common
         San Francisco, CA 94122                     Fremont, CA 94538
Facsimile No.: __________________           Facsimile No.: __________________
Residence: California                       Residence: California

                                      S-9THE  SECURITIES  REPRESENTED  HEREBY  HAVE NOT BEEN  REGISTERED  UNDER  THE
     SECURITIES  ACT OF 1933 (THE  "ACT") OR UNDER  ANY STATE  SECURITIES  LAWS.
     THESE  SECURITIES  MAY NOT BE  SOLD,  TRANSFERRED  OR  ASSIGNED  EXCEPT  AS
     PERMITTED UNDER THE ACT AND APPLICABLE STATE  SECURITIES LAWS,  PURSUANT TO
     REGISTRATION  OR  EXEMPTION  THEREFROM.  UNLESS  THE  SECURITIES  ARE  SOLD
     PURSUANT  TO AN  EFFECTIVE  REGISTRATION  STATEMENT,  THE  ISSUER  OF THESE
     SECURITIES  MAY  REQUIRE  AN  OPINION  OF  COUNSEL  IN FORM  AND  SUBSTANCE
     SATISFACTORY  TO THE ISSUER TO THE EFFECT  THAT ANY  PROPOSED  TRANSFER  OR
     RESALE IS IN COMPLIANCE  WITH THE ACT AND ANY APPLICABLE  STATE  SECURITIES
     LAWS.

                        --------------------------------

                        WARRANT TO PURCHASE COMMON STOCK

                                       OF

                                 BURST.COM, INC.

                        --------------------------------

     FOR  VALUE  RECEIVED,   ______________,   or  its  permitted  assigns  (the
"Holder"),  is entitled to purchase,  subject to the provisions of this Warrant,
from Burst.Com,  Inc., a Delaware  corporation (the "Company",  formerly Instant
Video Technologies, Inc.), up to _____________ shares of Common Stock, $0.00001,
of the  Company  (the  "Common  Stock") at a price per share equal to $5.00 (the
"Exercise Price").  The number of shares of Common Stock to be received upon the
exercise of this  Warrant and the  Exercise  Price may be adjusted  from time to
time as hereinafter set forth.  The shares of Common Stock  deliverable upon any
exercise  of this  Warrant  are  hereinafter  sometimes  referred to as "Warrant
Shares".  This  Warrant  is issued by the  Company  pursuant  to the  Securities
Purchase  Agreement dated January 27, 2000 (the "Purchase  Agreement") among the
Company and each of the  purchasers  named on the  signature  pages  thereto and
shall  be  entitled  to  the  rights  set  forth  therein,   including   certain
registration  rights  relating to the Warrant Shares.  The Warrants  exercisable
pursuant to the terms of the Purchase  Agreement shall  collectively be referred
to herein as the "Purchase Agreement Warrants".

     (a) EXERCISE OF WARRANT.  This Warrant may be exercised in whole or in part
at any time or from time to time during the period commencing on the date hereof
through and including the fifth  anniversary of the date hereof (the "Expiration
Date") and if the date of exercise shall be a day on which banking  institutions
in the State of New York shall be  authorized  by law to close then the  Warrant
shall be exercisable  on the next  succeeding day which shall not be such a day;
provided, however, that in the event of (a) the closing of the Company's sale or
transfer of all or  substantially  all of its assets,  or (b) the closing of the
acquisition of the Company by another  entity by means of merger,  consolidation
or other  transaction  or  series  of  related  transactions,  resulting  in the
exchange of the outstanding shares of
<PAGE>
the Company's  capital stock such that the  stockholders of the Company prior to
such transaction own, directly or indirectly,  less then 50% of the voting power
of the  surviving  entity  and (c) in any such  event  the  shareholders  of the
Company  shall  receive  consideration  consisting  of  cash  and/or  marketable
securities   in  excess  of  $7.50  per  share   (adjusted   for  stock  splits,
combinations,  reclassifications and the like) (any such event being referred to
herein  as a  "Termination  Event"),  this  Warrant  shall,  on the date of such
Termination  Event,  no longer be  exercisable  and become null and void. In the
event of a proposed  transaction of the kind described in (a) or (b) above,  the
Company  shall  notify the holder of the Warrant at least twenty (20) days prior
to the consummation of such Termination  Event. This Warrant may be exercised by
presentation and surrender hereof to the Company at its principal  office, or at
the office of its stock transfer  agent,  if any, with the Purchase Form annexed
hereto duly executed and  accompanied  by payment of the Exercise  Price for the
number of Warrant Shares  specified in such Form. As soon as  practicable  after
each such exercise,  but not later than two business (2) days following the date
of  such  exercise,  the  Company  shall  issue  and  deliver  to the  Holder  a
certificate or certificates  for the Warrant Shares issuable upon such exercise,
registered in the name of the Holder or its  designee(s).  If this Warrant shall
be  exercised  in part,  the Company  shall,  upon  surrender of the Warrant for
cancellation,  execute and deliver a new  Warrant  evidencing  the rights of the
Holder  thereof to  purchase  the  balance  of the  Warrant  Shares  purchasable
hereunder.  Upon receipt by the Company of the Warrant at its office,  or by the
stock transfer  agent of the Company at its office,  in proper form for exercise
and accompanied by proper  payment,  the Holder shall be deemed to be the holder
of record of the Warrant  Shares  issuable upon such  exercise,  notwithstanding
that the  stock  transfer  books of the  Company  shall  then be  closed or that
certificates  representing  such shares of Common Stock shall not then have been
physically delivered to the Holder.

     (b) RESERVATION OF SHARES.  The Company  covenants and agrees that it shall
at all times reserve for issuance and delivery upon exercise of the Warrant such
number of shares of Common  Stock as shall be required for issuance and delivery
upon exercise of the Warrant.  In addition,  the Company  further  covenants and
agrees that all Warrant Shares, upon issuance, shall be duly and validly issued,
fully paid and  non-assessable  and no personal  liability  shall  attach to the
holder thereof.

     (c) FRACTIONAL SHARES. No fractional shares of Common Stock shall be issued
upon  exercise of this  Warrant.  All  fractional  shares shall be eliminated by
rounding any fraction to the nearest whole number of shares of Common Stock.

     (d) EXCHANGE,  TRANSFER,  ASSIGNMENT OR LOSS OF WARRANT. This Warrant shall
be exchangeable, without expense, at the option of the Holder, upon presentation
and  surrender  hereof to the  Company,  or at the office of its stock  transfer
agent,  for other  Warrants  of  different  denominations  entitling  the Holder
thereof to purchase in the  aggregate  the same number of shares of Common Stock
purchasable  hereunder.  Upon  surrender  of this  Warrant to the Company or the
office of its stock transfer agent, with the Assignment Form annexed hereto duly
executed  and funds  sufficient  to pay any transfer  tax, the Company,  without
charge, shall execute and deliver new Warrants in the name of the assignee named
in such  instrument of assignment and this Warrant shall be cancelled  promptly,
provided  that the Company  shall  receive from the Holder an opinion of counsel
that  such  assignment,  as  contemplated  by  the  Holder,  shall  not  violate
applicable Federal or state securities laws. This

                                       -2-
<PAGE>
Warrant  may be divided or  combined  with other  Warrants  which carry the same
rights upon  presentation  hereof at the principal  office of the Company or the
office of its stock transfer agent,  together with a written  notice,  signed by
the Holder hereof,  specifying the names and denominations in which new Warrants
are to be issued.  The term "Warrants" as used herein shall include any warrants
into which this warrant may be divided or exchanged. Upon receipt by the Company
of evidence satisfactory to it of the loss, theft,  destruction or mutilation of
this  Warrant,  and (in the case of loss,  theft or  destruction)  of reasonably
satisfactory  indemnification,  and  upon  surrender  and  cancellation  of this
Warrant,  if  mutilated,  the Company shall execute and deliver a new Warrant of
like tenor and date.

     (e) RIGHTS OF HOLDER.  The Holder shall not, until the exercise hereof,  be
entitled to any rights of a stockholder in the Company, either at law or equity,
and the rights of the Holder shall be limited to those expressed herein.

     (f) ANTI-DILUTION PROVISIONS.  The Exercise Price in effect at any time and
the number and kind of securities  purchasable upon the exercise of this Warrant
shall be subject to  adjustment  from time to time upon the  happening of any of
the following events:

          (i) In the event that the  Company  shall  issue or sell any shares of
     Common  Stock  (except  as  provided  in  paragraph  (f)(v)  hereof)  for a
     consideration  per share less than the greater of (A) the Exercise Price in
     effect immediately prior to such issue or sale and (B) the Market Price (as
     defined in paragraph  (f)(ii)(G) hereof) on the date of such issue or sale,
     then the  Exercise  Price,  as of the date of such issue or sale,  shall be
     reduced to such lesser price  (calculated  to the nearest cent) as shall be
     determined by multiplying  the Exercise Price in effect  immediately  prior
     thereto by a fraction,  the  numerator of which shall be the sum of (x) the
     number  of  shares of Common  Stock  outstanding  immediately  prior to the
     issuance or sale of such  additional  shares (on a fully diluted basis) and
     (y) the number of shares of Common Stock which the aggregate  consideration
     received for the issuance or sale of such additional  shares would purchase
     at the greater of the Market Price on the date of such issue or sale or the
     Exercise  Price then in effect,  and the  denominator of which shall be the
     number of shares of Common Stock outstanding immediately after the issuance
     or sale of such additional shares (on a fully diluted basis).

          (ii)  For the  purposes  of  paragraph  (f)(i)  above,  the  following
     subparagraphs (A) to (G), inclusive, shall be applicable:

               (A) If at any time the Company  shall issue or sell any rights to
          subscribe  for, or any rights or options to purchase,  Common Stock or
          any stock or other  securities  convertible  into or exchangeable  for
          Common Stock (such  convertible  or  exchangeable  stock or securities
          being hereinafter  called  "Convertible  Securities"),  whether or not
          such  rights or options or the right to convert or  exchange  any such
          Convertible Securities shall be immediately exercisable, and the price
          per share for which Common  Stock shall be issuable  upon the exercise
          of such  rights or  options or upon  conversion  or  exchange  of such
          Convertible  Securities  (determined by dividing (1) the total amount,
          if any, received or receivable

                                       -3-
<PAGE>
          by the  Company as  consideration  for the  granting of such rights or
          options, plus the minimum aggregate amount of additional consideration
          payable to the  Company  upon the  exercise of such rights or options,
          plus,  in the case of any such rights or options which shall relate to
          Convertible  Securities,  the minimum  aggregate  amount of additional
          consideration,  if  any,  payable  upon  the  issue  or  sale  of such
          Convertible Securities and upon the conversion or exchange thereof, by
          (2) the total  number of shares  of  Common  Stock  issuable  upon the
          exercise of such rights or options or upon the  conversion or exchange
          of all such Convertible  Securities issuable upon the exercise of such
          rights or options)  shall be less than the greater of (x) the Exercise
          Price in effect  immediately prior to the time of the issue or sale of
          such  rights or options  and (y) the Market  Price on the date of such
          issue or sale,  then the  total  number  of  shares  of  Common  Stock
          issuable  upon  the  exercise  of  such  rights  or  options  or  upon
          conversion  or  exchange  of the  total  amount  of  such  Convertible
          Securities  issuable upon the exercise of such rights or options shall
          (as of the date of granting of such rights or options) be deemed to be
          outstanding  and to have been  issued for such  price per  share,  and
          except as provided in paragraph (f)(iv), no further adjustments of the
          Exercise  Price  shall be made upon the  actual  issue of such  Common
          Stock or of such  Convertible  Securities,  upon the  exercise of such
          rights or options or upon the actual  issue of such Common  Stock upon
          conversion or exchange of such Convertible Securities.

               (B)  If  at  any  time  the  Company  shall  issue  or  sell  any
          Convertible  Securities,  whether  or not the  rights to  exchange  or
          convert thereunder shall be immediately exercisable, and the price per
          share for which Common Stock shall be issuable upon such conversion or
          exchange  (determined  by dividing  (1) the total  amount  received or
          receivable  by the Company as  consideration  for the issue or sale of
          such  Convertible  Securities,  plus the minimum  aggregate  amount of
          additional  consideration,  if any,  payable to the  Company  upon the
          conversion or exchange  thereof,  by (2) the total number of shares of
          Common  Stock  issuable  upon the  conversion  or exchange of all such
          Convertible  Securities)  shall be less  than the  greater  of (x) the
          Exercise Price in effect  immediately  prior to the time of such issue
          or sale and (y) the  Market  Price on the date of such  issue or sale,
          then the  total  number  of  shares  of  Common  Stock  issuable  upon
          conversion or exchange of all such Convertible Securities shall (as of
          the  date of the  issue  or sale of such  Convertible  Securities)  be
          deemed to be  outstanding  and to have been  issued for such price per
          share,  and,  except as  provided  in  paragraph  (f)(iv)  no  further
          adjustments  of the Exercise Price shall be made upon the actual issue
          of such Common Stock,  upon conversion or exchange of such Convertible
          Securities.  In  addition,  if any  issue or sale of such  Convertible
          Securities  shall be made upon exercise of any rights to subscribe for
          or to  purchase  or  any  option  to  purchase  any  such  Convertible
          Securities for which adjustments of the Exercise Price shall have been
          or shall be made

                                       -4-
<PAGE>
          pursuant to other  provisions of this  paragraph  (f)(ii),  no further
          adjustment of the Exercise Price shall be made by reason of such issue
          or sale.

               (C) If at any time the Company  shall  declare and pay a dividend
          or make any other distribution upon the Common Stock payable in Common
          Stock or Convertible Securities,  any such Common Stock or Convertible
          Securities,  as the case may be,  issuable in payment of such dividend
          or  distribution  shall be deemed to have been issued or sold  without
          consideration;  provided,  that this provision  shall not apply to any
          shares of Common Stock  issuable  for  additional  consideration  upon
          conversion of such Convertible Securities.

               (D) If at any time any  shares  of  Common  Stock or  Convertible
          Securities  or any rights or options to purchase any such Common Stock
          or  Convertible  Securities  shall be  issued  or sold for  cash,  the
          consideration  received  therefor  shall be  deemed  to be the  amount
          received by the Company therefor,  without deduction  therefrom of any
          expenses  incurred or any  underwriting  commissions or concessions or
          discounts paid or allowed by the Company in connection  therewith.  In
          case any  shares  of Common  Stock or  Convertible  Securities  or any
          rights or options to  purchase  any such Common  Stock or  Convertible
          Securities  shall be issued  or sold for a  consideration  other  than
          cash, the amount of the consideration  other than cash received by the
          Company shall be deemed to be the fair value of such  consideration as
          determined by the Board of Directors,  without deduction  therefrom of
          any expenses  incurred or any underwriting  commissions or concessions
          or discounts  paid or allowed by the Company in connection  therewith.
          In case any shares of Common Stock or  Convertible  Securities  or any
          rights or options to  purchase  any such Common  Stock or  Convertible
          Securities  shall be issued in  connection  with any merger of another
          corporation  into the Company,  the amount of  consideration  therefor
          shall be deemed to be the fair  value of such  merged  corporation  as
          determined  by the Board of  Directors  reduced  by all cash and other
          consideration  (if any) paid by the  Company in  connection  with such
          merger.

               (E) If at any time the Company shall fail to set a record date of
          the holders of Common Stock for the purpose of  entitling  them (1) to
          receive a dividend or other distribution payable in Common Stock or in
          Convertible  Securities,  or (2) to subscribe  for or purchase  Common
          Stock or Convertible Securities, then such record date shall be deemed
          to be the date of the  issue or sale of the  shares  of  Common  Stock
          deemed  to have  been  issued  or sold  upon the  declaration  of such
          dividend or the making of such other  distribution  or the date of the
          granting of such right of  subscription  or purchase,  as the case may
          be.

               (F) The number of shares of Common Stock outstanding at any given
          time shall not include  shares  owned or held by or for the account of
          the

                                       -5-
<PAGE>
          Company,  provided  that  such  shares  are  neither  issued,  sold or
          otherwise distributed by the Company.

               (G) For  purposes  hereof,  the  "Market  Price"  shall  mean the
          closing bid price of the Common Stock in the over-the-counter  market,
          or, if the Common Stock shall be quoted on The Nasdaq  National Market
          or The  Nasdaq  SmallCap  Market or listed  on a  national  securities
          exchange,  the closing sale price on such principal market or exchange
          on which the Common Stock may be listed, in each case on the day prior
          to the date of  determination  of such "Market  Price." If at any time
          the Common Stock shall not be traded in the over-the-counter market or
          quoted or listed on The Nasdaq  National Market or The Nasdaq SmallCap
          Market or a national  securities  exchange,  the  "Market  Price" of a
          share of Common Stock shall be deemed to be the higher of (x) the book
          value  thereof  (as  determined  by any  firm  of  independent  public
          accountants of nationally recognized standing selected by the Board of
          Directors)  as of the  last day of any  month  ending  within  60 days
          preceding the date of determination, or (y) the fair value thereof (as
          determined in good faith by the Board of Directors) as of a date which
          shall be within 15 days of the date of determination.

          (iii) In case at any time the Company shall  subdivide its outstanding
     shares of Common Stock into a greater number of shares,  the Exercise Price
     in effect  immediately prior to such subdivision  shall be  proportionately
     reduced.  In case at any time the outstanding shares of Common Stock of the
     Company  shall be combined  into a smaller  number of shares,  the Exercise
     Price  in  effect   immediately   prior  to  such   combination   shall  be
     proportionately increased.

          (iv) If the  purchase or exercise  price  provided for in any right or
     option  referred  to in  paragraph  (f)(ii)(A),  or the rate at  which  any
     Convertible  Securities referred to in paragraph (f)(ii)(A) or (B) shall be
     convertible  into or  exchangeable  for  Common  Stock,  shall  change or a
     different  purchase or exercise price or rate shall become effective at any
     time or from time to time, then, upon such change becoming  effective,  the
     Exercise  Price then in effect  hereunder  shall  forthwith be increased or
     decreased  to such  Exercise  Price as would  have been in  effect  had the
     adjustments made upon the granting or issuance of such rights or options or
     Convertible  Securities been made upon the basis of (A) the issuance of the
     number of shares of Common Stock  theretofore  actually  delivered upon the
     exercise of such  options or rights or upon the  conversion  or exchange of
     such Convertible  Securities  consideration  received  therefor and (B) the
     granting or issuance at the time of such change of any such options, rights
     or Convertible Securities then still outstanding for the consideration,  if
     any,  received by the Company  therefor  and to be received on the basis of
     such changed price.

          (v) The Company  shall not be required to make any  adjustment  to the
     Exercise Price in the case of:

                                       -6-
<PAGE>
               (A) the granting,  after the date hereof, by the Company of stock
          options or stock  awards with  respect to shares of Common Stock under
          stock  option  plans of the  Company,  so long as the total  number of
          shares of Common  Stock  issuable or issued  pursuant to such  options
          does not exceed 11% of (i) the outstanding  shares of Common Stock (on
          a  fully  diluted  basis)  as of the  date of the  Purchase  Agreement
          together with (ii) any additional  outstanding  shares of Common Stock
          (on a fully  diluted  basis)  issued on or  before  January  31,  2000
          pursuant to the Purchase Agreement;

               (B) the  issuance  of  shares  of Common  Stock  pursuant  to the
          exercise of the options  referred to in paragraph  (f)(v)(A)  above or
          any other options  outstanding as of the date hereof,  provided,  that
          any such issuance does not result in the Company exceeding the 39% cap
          set forth in Section 4(b) of the Purchase Agreement;

               (C) the  issuance  of  shares  of Common  Stock  pursuant  to the
          exercise  or  conversion  of any  securities  outstanding  on the date
          hereof;

               (D) the  issuance  of  shares  of Common  Stock  pursuant  to the
          Purchase  Agreement or the  Registration  Rights Agreement dated as of
          January 27, 2000 among the Company and each of the purchasers named on
          the signature pages thereto on, or before, January 31, 2000;

               (E) the  issuance of shares of Common  Stock upon the exercise or
          triggering  of any  antidilution  provisions  thereunder of any of the
          Warrants; and

               (F) the  issuance  of equity  securities  in  connection  with an
          offering  pursuant to an  engagement  letter,  dated  October 5, 1999,
          between  E*Offering  and  the  Company  (the  "E*Offering   Engagement
          Letter"),  whether such equity  securities are issued to E*Offering or
          to any investor  for which  E*Offering  is entitled to be  compensated
          pursuant to the E*Offering Engagement Letter.

          (vi) Whenever the Exercise Price payable upon exercise of this Warrant
     shall be adjusted  pursuant to this  paragraph  (f),  the number of Warrant
     Shares purchasable upon exercise hereof simultaneously shall be adjusted by
     multiplying the number of Warrant Shares issuable immediately prior to such
     adjustment  by the  Exercise  Price  in  effect  immediately  prior to such
     adjustment and dividing the product so obtained by the Exercise  Price,  as
     adjusted.

     (g)  OFFICER'S  CERTIFICATE.  The Company  shall give notice to each record
holder of the  Warrants  of any event or  transaction  that  shall  result in an
adjustment in the Exercise Price, within five (5) business days thereof, at such
Holder's  address as the same appears on the books of the  Company,  including a
computation  of such  adjustment  and any  adjustment  in the  number of Warrant
Shares for which such Holder may exercise such Holder's  Warrant and any further
information   as  shall  be  necessary  to  confirm  the   computation  of  such
adjustments.

                                       -7-
<PAGE>
     (h)  CERTAIN  NOTICES  TO  HOLDERS.  So  long  as  this  Warrant  shall  be
outstanding,  if (i) the Company shall pay any dividend or make any distribution
upon the Common Stock, (ii) the Company shall offer to the holders of the Common
Stock for  subscription  or  purchase  by them any share of any class of capital
stock or any other  rights or (iii) any capital  reorganization  of the Company,
reclassification of the capital stock of the Company,  consolidation,  merger or
other  business  combination  of the Company with or into  another  corporation,
sale, lease or transfer of all or substantially all of the assets of the Company
to another corporation, or voluntary or involuntary dissolution,  liquidation or
winding up of the Company shall be effected,  then in any such case, the Company
shall cause to be mailed by certified  mail to the Holder,  at least twenty (20)
days  prior to the date  specified  in (x) or (y)  below,  as the case may be, a
notice  containing a brief  description  of the proposed  action and stating the
date on which (x) a record  date shall be  established  for the  purpose of such
dividend,   distribution  or  rights  offering  or  (y)  such  reclassification,
reorganization,   consolidation,  merger,  conveyance,  sale,  lease,  transfer,
dissolution,  liquidation or winding up shall take place and the date, if any to
be fixed,  as of which the  holders of Common  Stock or other  securities  shall
receive  cash  or  other  property   deliverable  upon  such   reclassification,
reorganization,  consolidation,  merger, conveyance, dissolution, liquidation or
winding up.

     (i) RECLASSIFICATION, REORGANIZATION, MERGER OR OTHER BUSINESS COMBINATION.
Except in the event of a  Termination  Event,  in case of any  reclassification,
capital reorganization or other change of outstanding shares of Common Stock, or
in case of any  consolidation,  merger  or  other  business  combination  of the
Company with or into another  corporation  or other entity  (other than a merger
with  a  subsidiary  in  which  merger  the  Company  shall  be  the  continuing
corporation  and  which  shall  not  result  in  any  reclassification,  capital
reorganization  or other  change of  outstanding  shares of Common  Stock of the
class  issuable upon exercise of this Warrant) or in case of any sale,  lease or
conveyance to another corporation or other entity of all or substantially all of
the assets of the Company,  the Company shall cause  effective  provisions to be
made so that the  Holder,  by  exercising  this  Warrant  at any time  after the
consummation of such  reclassification,  change,  consolidation,  merger,  sale,
lease or conveyance,  shall be entitled to receive the stock or other securities
or property to which such Holder would have been entitled upon such consummation
if  such  Holder  had  exercised   this  Warrant   immediately   prior  to  such
consummation.  Any such provision shall include provisions for adjustments which
shall be as nearly equivalent as may be practicable to the adjustments  provided
for in this Warrant.  Except in the event of a Termination  Event, the foregoing
provisions  of  this   paragraph  (i)  shall   similarly   apply  to  successive
reclassifications, capital reorganizations and changes of shares of Common Stock
and to successive consolidations,  mergers, sales, leases or conveyances. In the
event  that,   in   connection   with  any  such   capital   reorganization   or
reclassification,  consolidation,  merger, sale, lease or conveyance, additional
shares of Common Stock shall be issued in exchange, conversion,  substitution or
payment,  in whole or in part,  for a security of the Company  other than Common
Stock,  any such issue shall be treated as an issue of Common  Stock  subject to
the provisions of paragraph (f) hereof.

     (j)  GOVERNING  LAW.  This  Warrant  shall be governed by and  construed in
accordance with the law of the State of New York.

                                       -8-
<PAGE>
     (k)  NOTICES.  Any notice  required to be given or delivered to the Company
under the terms of this Warrant  shall be in writing and  addressed to the Chief
Executive Officer of the Company at its principal corporate offices.  Any notice
required  to be  given or  delivered  to the  Holder  shall  be in  writing  and
addressed to the Holder at the address indicated in the Purchase Agreement or to
such other  address as such party may  designate in writing from time to time to
the Company.  All notices  shall be deemed to have been given or delivered  upon
any of the following: (i) personal delivery; (ii) five (5) days after deposit in
the  United  States  mail  by  certified  or  registered  mail  (return  receipt
requested);  (iii)  one (1)  business  day  after  deposit  with any  nationally
recognized  overnight  courier  (prepaid);  or (iv) one (1)  business  day after
transmission  by  facsimile  and  receipt  by the  sender of  written  facsimile
confirmation.

     (l) Consent to Amendments.  Except as otherwise  expressly provided herein,
the provisions of the Purchase  Agreement  Warrants may be amended and/or waived
only with the written  consent of the Company  and of Holders  holding  Purchase
Agreement  Warrants  exercisable into sixty-six and two-thirds percent (66 2/3%)
or more of the Warrant  Shares  into which all  outstanding  Purchase  Agreement
Warrants  are then  exercisable  (which  such 66 2/3% must  include  the Warrant
Shares into which the  Warrants  held by the SSF  Purchasers  (as defined in the
Purchase Agreement) are exercisable). Notwithstanding the forgoing, no amendment
or waiver may affect any Holder in any manner  differently from any other Holder
without the written consent of such first mentioned Holder. No course of dealing
between  the  Company  and any  Holder or any  delay in  exercising  any  rights
hereunder or under the Company's Certificate of Incorporation,  as amended, will
operate as a waiver of any rights of such Holder.

                                       -9-
<PAGE>
     IN WITNESS  WHEREOF,  the Company has caused this  Warrant to be signed and
attested by the undersigned, each being duly authorized, as of the date below.

Dated: January 31, 2000

                                        BURST.COM, INC.

                                        By:
                                            ------------------------------------
                                            Name:  Richard Lang
                                            Title: Chairman and Chief Executive
                                                   Officer

Attest:

-----------------------------
Edward H. Davis
Vice President, Secretary, and General Counsel

                                      -10-
<PAGE>
                                  PURCHASE FORM

     The undersigned  hereby  irrevocably  elects to exercise the Warrant to the
extent of purchasing  ____________ shares of Common Stock and hereby makes total
payment of  $______________  in payment of the Exercise Price multiplied by such
number of shares.

                                   ----------

                                 ASSIGNMENT FORM

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

Name: __________________________________
           (print in block letters)

Social Security No. or
Federal Taxpayer Identification No.: _________________________________

Address: ________________________________________________________

the right to purchase Common Stock  represented by this Warrant to the extent of
_________  shares of Common Stock as to which such right is exercisable and does
hereby irrevocably constitute and appoint _________________________ as Attorney,
to  transfer  the  same  on  the  books  of  the  Company  with  full  power  of
substitution.

Date ____________________, 20__         Signature: _____________________________
                                                   Name:

                                      -11-

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