Document:

Exhibit 10.3

TIME SHARING
AGREEMENT 

THIS
TIME SHARING AGREEMENT is entered into effective as of the 22nd day of November, 2006, by
and between CSC TRANSPORT IV, INC. (“CSC”), a Delaware corporation with a place
of business at 8000 Republic Airport Hangar 5, Farmingdale, New York 11735
(“Lessor”), and JAMES L. DOLAN, with a mailing address at 1111 Stewart Avenue,
Bethpage, NY 11714 (“Lessee”). 

W
I T N E S S E T H: 

WHEREAS, CSC
is the lessee and the operator of a Gulfstream Aerospace G-V aircraft, manufacturer’s
serial number 639, United States registration N501CV (the “Aircraft”); and 

WHEREAS,
Lessor employs a fully-qualified and credentialed flight crew to operate the Aircraft; and

WHEREAS, Lessor
has agreed to lease the Aircraft, with flight crew, to Lessee on a “time
sharing” basis as defined in Section 91.501(c)(1) of the Federal Aviation Regulations
(“FAR”) upon the terms and subject to the conditions set forth herein; 

NOW,
THEREFORE, in consideration of the foregoing premises, and the covenants and agreements
set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are acknowledged, Lessor and Lessee, intending to be legally bound,
hereby agree as follows: 

1.       Lease
of Aircraft. Lessor agrees to lease the Aircraft to Lessee pursuant to the
provisions of FAR Section 91.501(b)(6) and Section 91.501(c)(1) and this
Agreement, and to provide a fully-qualified and credentialed flight crew for all
flights to be conducted hereunder during the Term (as defined in Section 13)
hereof. The parties acknowledge and agree that this Agreement did not result in
any way from any direct or indirect advertising, holding out or soliciting on
the part of Lessor or any person purportedly acting on behalf of Lessor. Lessor
and Lessee intend that the lease of the Aircraft effected by this Agreement
shall be treated as a “wet lease” pursuant to which Lessor provides
transportation services to Lessee in accordance with FAR Section 91.501(b)(6)
and Section 91.501(c)(1). 

2.       Payment
for Use of Aircraft. Lessee shall pay Lessor the following actual expenses
of each flight conducted under this Agreement, not to exceed the maximum amount
legally payable for such flight under FAR Section 91.501(d)(1)-(10): 

1

	  	  	(a)  	  	 fuel,
oil, lubricants and other additives;  

	  	  	(b)  	  	 travel
expenses of crew, including food, lodging and ground transportation;  

	  	  	(c)  	  	 hangar
and tie-down costs away from the Aircraft’s base of operation;  

	  	  	(d)  	  	 additional
insurance obtained for the specific flight at the request of Lessee;  

	  	  	(e)  	  	 landing
fees, airport taxes and similar assessments;  

	  	  	(f)  	  	 customs,
foreign permit and similar fees directly related to the flight;  

	  	  	(g)  	  	 in-flight
food and beverages;  

	  	  	(h)  	  	 passenger
ground transportation;  

	  	  	(i)  	  	 flight
planning and weather contract services; and  

	  	  	(i)  	  	 an
additional charge equal to 100% of the expenses listed in Section 2(a).  

3.       Operational
Control of Aircraft. Lessor and Lessee intend and agree that on all flights
conducted under this Agreement, Lessor shall have complete and exclusive
operational control over the Aircraft, its flight crews and maintenance, and
complete and exclusive possession, command and control of the Aircraft. Lessor
shall have complete and exclusive responsibility for scheduling, dispatching and
flight following of the Aircraft on all flights conducted under this Agreement,
which responsibility includes the sole and exclusive right over initiating,
conducting and terminating such flights. Lessee shall have no responsibility for
scheduling, dispatching or flight following on any flight conducted under this
Agreement, nor any right over initiating, conducting or terminating any such
flight. Nothing in this Agreement is intended or shall be construed so as to
convey to Lessee any operational control over, or possession, command and
control of, the Aircraft, all of which are expressly retained by Lessor.

4.       Scheduling.  

(a)      Lessee
will provide Lessor with requests for flight time and proposed flight schedules
as far in advance of any given flight as possible. The designated authorized
representative(s) of Lessee shall submit scheduling requests under this
Agreement to the designated authorized representative(s) of Lessor. Requests for
flight time shall be in such form (whether oral or written) mutually convenient
to, and agreed upon by, the parties. In addition to proposed schedules and
flight times, Lessee shall upon request provide Lessor with the following 

2 

information for each proposed flight
prior to scheduled departure: (i) proposed departure point; (ii) destination; (iii) date
and time of flight; (iv) the number of anticipated passengers; (v) the nature and extent
of luggage to be carried; (vi) the date and time of a return flight, if any; and (vii)
any other pertinent information concerning the proposed flight that Lessor or the flight
crew may request.  

(b)      Subject
to Aircraft and crew availability, Lessor shall use its good faith efforts,
consistent with Lessor’s approved policies, in order to accommodate the
needs of Lessee, to avoid conflicts in scheduling, and to enable Lessee to enjoy
the benefits of this Agreement; however, Lessee acknowledges and agrees that
notwithstanding anything in this Agreement to the contrary, (i) Lessor shall
have sole and exclusive final authority over the scheduling of the Aircraft; and
(ii) the needs of Lessor for the Aircraft shall take precedence over
Lessee’s rights and Lessor’s obligations under this Agreement.

(c)      Although
every good faith effort shall be made to avoid its occurrence, any flight
scheduled under this Agreement is subject to cancellation by either party
without incurring liability to the other party. In the event that cancellation
is necessary, the canceling party shall provide the maximum notice practicable.

5.       Billing.
Lessor shall pay all expenses relating to the operation of the Aircraft under
this Agreement on a monthly basis. As soon as possible after the end of each
monthly period during the Term, Lessor shall provide to Lessee an invoice
showing all use of the Aircraft by Lessee under this Agreement during that month
and a complete accounting detailing all amounts payable by Lessee pursuant to
Section 2 for that month, including such detail supporting all expenses paid or
incurred by Lessor for which reimbursement is sought as Lessee may reasonably
request. Lessee shall pay all amounts due to Lessor under this Section 5 not
later than 30 days after receipt of the invoice therefore. Promptly after
execution of this Agreement, Lessee agrees to maintain with Lessor an
appropriate agreed-upon advance deposit, to be applied by Lessor against any
amounts owed under Section 2 and any Federal excise due on such amounts (with
any balance to be returned upon termination of this Agreement). 

6.       Maintenance
of Aircraft. Lessor shall be solely responsible for securing maintenance,
preventive maintenance and inspections of the Aircraft (utilizing an inspection
program listed in FAR Section 91.409(f)), and shall take such requirements into
account in scheduling the Aircraft hereunder. 

3 

7.       Flight
Crew.  

(a)                Lessor
shall employ or engage and pay all salaries, benefits and and/or compensation
for a fully-qualified flight crew with appropriate credentials to conduct each
flight undertaken under this Agreement. Lessor may use temporary flight
crewmembers for a flight under this Agreement only if any such temporary
crewmember is FlightSafety (or SimuFlite) trained, is current on the Aircraft
and satisfies all of the requirements and conditions under the insurance
coverage for the Aircraft. All flight crewmembers shall be included on any
insurance policies that Lessor is required to maintain hereunder. 

(b)      The
qualified flight crew provided by Lessor shall exercise all of its duties and
responsibilities with regard to the safety of each flight conducted hereunder in
accordance with applicable FAR’s. The Aircraft shall be operated under the
standards and policies established by Lessor. Final authority to initiate or
terminate each flight, and otherwise to decide all matters relating to the
safety of any given flight or requested flight, shall rest with the
pilot-in-command of that flight. The flight crew may, in its sole discretion,
terminate any flight, refuse to commence any flight, or take any other action
that, in the judgment of the pilot-in-command, is necessitated by considerations
of safety. No such termination or refusal to commence by the pilot-in-command
shall create or support any liability for loss, injury, damage or delay in favor
of Lessee or any other person. Lessor shall not be liable to Lessee or any other
person for loss, injury or damage occasioned by the delay or failure to furnish
the Aircraft and flight crew pursuant to this Agreement for any reason.

8.       Insurance.  

(a)                At
all times during the term of this Agreement, Lessor shall maintain at its sole
cost and expense (i) comprehensive aircraft and liability insurance against
bodily injury and property damage claims, including, without limitation,
contractual liability, premises damage, personal property liability, personal
injury liability, death and property damage liability, public and passenger
legal liability coverage, in an amount not less than $100,000,000 for each
single occurrence and (ii) hull insurance for the full replacement cost of the
aircraft. 

(b)                Any
policies of aircraft and liability insurance carried in accordance with this
Section 8 and any policies taken out in substitution or replacement of any such
policies (i) shall name Lessee and his employees, agents, licensees,
servants and guests as additional insured; (ii) shall provide for 30 days
written notice to Lessee by such insurer of cancellation, change, non-renewal or
reduction (seven days in the case of war risk and allied perils coverage or such
shorter period as is customarily available in the industry); (iii) shall
provide that in respect of the interests of Lessee in such policies, the
insurance shall not be invalidated by any action or inaction of Lessor
regardless of any breach or violation of any warranties, declarations or
conditions contained in such policies by or binding upon Lessor; and (iv) shall
permit the use of the Aircraft by Lessor for compensation or hire to the extent
permitted under applicable law. Each such policy shall be primary insurance, not
subject to any co-insurance clause and shall be without right of contribution
from any other insurance. 

(c)                Lessor
shall use reasonable commercial efforts to provide such additional insurance
coverage for specific flights under this Agreement, if any, as Lessee may
request in writing. Lessee also acknowledges that any trips scheduled to the
European Union require Lessor to purchase additional insurance to comply with
local regulations. The cost of all additional flight-specific insurance shall be
borne by Lessee as set forth in Section 2(d) hereof. 

(d)                Each
party agrees that it will not do any act or voluntarily suffer or permit any act
to be done whereby any insurance required hereunder shall or may be suspended,
impaired or defeated. In no event shall Lessor suffer or permit the Aircraft to
be used or operated under this Agreement without such insurance being fully in
effect. 

4 

(e)                Lessor
shall ensure that worker’s compensation insurance with all-states coverage
is provided for the Aircraft’s crew and maintenance personnel. 

(f)                Lessor
shall deliver certificates of insurance to Lessee with respect to the insurance
required or permitted to be provided by it hereunder not later than the first
flight of the Aircraft under this Agreement and upon the renewal date of each
policy. 

9.       Taxes.
Lessee shall be responsible for paying, and Lessor shall be responsible for
collecting from Lessee and paying over to the appropriate authorities, all
applicable Federal transportation taxes and sales, use or other excise taxes
imposed by any governmental authority in connection with any use of the Aircraft
by Lessee hereunder. Each party shall indemnify the other party against any and
all claims, liabilities, costs and expenses (including attorney’s fees as
and when incurred) arising out of its breach of this undertaking. 

10.       Lessee’s
Representations and Warranties. Lessee represents and warrants that:

(a)                He
will not use the Aircraft for the purposes of providing transportation of
passengers or cargo in air commerce for compensation or hire or for common
carriage. 

(b)                He
shall refrain from incurring any mechanic’s or other liens in connection
with inspection, preventive maintenance, maintenance or storage of the Aircraft,
and shall not attempt to convey, mortgage, assign, lease or in any way alienate
the Aircraft or create any kind of lien or security interest involving the
Aircraft or do anything or take any action that might mature into such a lien.

(c)                He
shall not lien or otherwise encumber or create or place any lien or other
encumbrance of any kind whatsoever, on or against the Aircraft for any reason.
He also will ensure that no liens or encumbrances of any kind whatsoever are
created or placed against the Aircraft for claims against Lessee or by Lessee.

(d)                He
will abide by and conform to all laws, governmental and airport orders, rules
and regulations, as shall be imposed upon the lessee of an aircraft under a time
sharing agreement, and applicable company policies of Lessor. 

11.       Lessor’s
Representations and Warranties. Lessor represents and warrants that it will
abide by and conform to all such laws, governmental and airport orders, rules
and regulations, as shall from time to time be in effect relating in any way to
the operation and use of the Aircraft pursuant to this Agreement. 

5 

12.       Disclaimer
of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, LESSOR HAS
MADE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE
AIRCRAFT, INCLUDING ANY WITH RESPECT TO ITS CONDITION, MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO
THE OTHER PARTY OR TO ANY OTHER PERSON FOR ANY INCIDENTIAL, CONSEQUENTIAL OR
SPECIAL DAMAGES, HOWEVER ARISING. 

13.       Term. The
term of this Agreement (the “Term”) shall commence on the effective
date hereof and, unless terminated in accordance with the provisions hereof,
shall remain in full force in effect for an initial term of one year and
thereafter shall automatically renew for successive one-year terms.
Notwithstanding the foregoing, either party shall have the right to terminate
this Agreement for any reason or no reason by written notice given to the other
party not less than 30 days prior to the proposed termination date. 

14.       Limitation
of Liability. Lessee, for himself and on behalf of his agents, guests,
invitees, licensees, servants and employees, covenants and agrees that the
insurance described in Section 8 hereof shall be the sole recourse for any and
all liabilities, claims, demands, suits, causes of action, losses, penalties,
fines, expenses or damages, including reasonable attorneys fees, court costs and
witness fees (collectively, “Loss”) attributable to the use, operation
or maintenance of the Aircraft pursuant to this Agreement or performance of or
failure to perform any obligation under this Agreement. 

15.       Relationship
of Parties. Lessor is strictly an independent contractor lessor/provider of
transportation services with respect to Lessee. Nothing in this Agreement is
intended, nor shall it be construed so as, to constitute the parties as partners
or joint venturers or principal and agent. All persons furnished by Lessor for
the performance of the operations and activities contemplated by this Agreement
shall at all times and for all purposes be considered Lessor’s employees or
agents. 

16.       Governing
Law; Severability. This Agreement shall be governed by and interpreted in
accordance with the laws of the State of New York, without regard to its choice
of law rules. If any provision of this Agreement conflicts with any statute or
rule of law of the State of New York, or is otherwise unenforceable, such
provision shall be deemed null and void only the extent of such conflict or
unenforceability, and shall be deemed separate from, and shall not invalidate,
any other provision of this Agreement. 

17.       Amendment.
This Agreement may not be amended, supplemented, modified or terminated, or any
of its terms varied, except by an agreement in writing signed by each of the
parties hereto. 

18.       Counterparts.
This Time Sharing Agreement may be executed in counterparts, each of which
shall, for all purposes, be deemed an original and all such counterparts, taken
together, shall constitute one and the same agreement, even though all parties
may not have executed the same counterpart. Each party may transmit its
signature by facsimile, and such faxed signature shall have the same force and
effect as an original signature. 

6 

19.       Successors
and Assigns. This Time Sharing Agreement shall be binding upon the parties
hereto, and their respective heirs, executors, administrators, other legal
representatives, successors and assigns, and shall inure to the benefit of the
parties hereto, and, except as otherwise provided herein, to their respective
heirs, executors, administrators, other legal representatives, successors and
permitted assigns. Lessee agrees that it shall not sublease, assign, transfer,
pledge or hypothecate this Agreement or any part hereof (including any
assignment or transfer pursuant to or as a part of any merger, consolidation or
transfer of assets) without the prior written consent of Lessor, which may be
given or withheld by Lessor in its sole and absolute discretion. 

20.       Notices.
All notices or other communications delivered or given under this Agreement
shall be in writing and shall be deemed to have been duly given if
hand-delivered, sent by certified or registered mail, return receipt requested,
or nationally-utilized overnight delivery service, or confirmed facsimile
transmission, as the case may be. Such notices shall be addressed to the parties
at the addresses set forth above, or to such other address as may be designated
by any party in a writing delivered to the other in the manner set forth in this
Section 20. In the case of notices to Lessor, a copy of each such notice shall
be sent to Cablevision Systems Corporation, 1111 Stewart Avenue, Bethpage, New
York 11714, attention: General Counsel. Notices sent by certified or registered
mail shall be deemed received three business days after being mailed. All other
notices shall be deemed received on the date delivered. Routine communications
may be made by e-mail or fax to the addresses set forth therein. 

21.       Truth-in-Leasing
Compliance. Lessor, on behalf of the Lessee, shall (i) mail a copy of this
Agreement to the Aircraft Registration Branch, Technical Section, of the FAA in
Oklahoma City within 24 hours of its execution; (ii) notify the Farmingdale
Flight Standards District Office at least 48 hours prior to the first flight by
Lessor under this Agreement of the registration number of the Aircraft, and the
location of the airport of departure and departure time of the first flight; and
(iii) carry a copy of this Agreement onboard the Aircraft at all times when the
Aircraft is being operated under this Agreement. 

22.       TRUTH
IN LEASING STATEMENT UNDER FAR SECTION 91.23: 

(A)                LESSOR
HEREBY CERTIFIES THAT THE AIRCRAFT HAS BEEN MAINTAINED AND INSPECTED UNDER FAR
PART 91 DURING THE 12-MONTH PERIOD PRECEDING THE DATE OF EXECUTION OF THIS
AGREEMENT. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN COMPLIANCE WITH THE
MAINTENANCE AND INSPECTION REQUIREMENTS OF FAR PART 91 FOR ALL OPERATIONS TO BE
CONDUCTED UNDER THIS AGREEMENT. 

(B)                CSC
TRANSPORT IV, INC., 8000 REPUBLIC AIRPORT, HANGAR 5, FARMINGDALE, NEW YOUR
11735, HEREBY CERTIFIES THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE
AIRCRAFT FOR ALL OPERATIONS UNDER THIS AGREEMENT. 

7 

(C)                EACH
PARTY HEREBY CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE
WITH APPLICABLE FEDERAL AVIATION REGULATIONS. 

(D)                THE
PARTIES UNDERSTAND THAT AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL
CONTROL AND THE PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE
NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 

(signature page
follows) 

8 

IN
WITNESS WHEREOF, Lessor and Lessee have executed this Time Sharing Agreement
this 22nd day of November, 2006, effective as of the date first above written.

	  	LESSOR: 

	  	CSC TRANSPORT IV, INC. 

	  	By:  	/s/ Michael P. Huseby 
	    	    	
 
	    	    	

Name:

Title: 
	
Michael P. Huseby

Executive Vice President

   and Chief Financial Officer

	  	LESSEE: 

	   	By:  	/s/ James L. Dolan 
	   	   	
 
	   	   	
James. L. Dolan

9Exhibit 10.4

TIME SHARING
AGREEMENT 

THIS
TIME SHARING AGREEMENT is entered into effective as of the 22nd day of November, 2006, by
and between CSC TRANSPORT V, INC. (“CSC”), a Delaware corporation with a place
of business at 8000 Republic Airport Hangar 5, Farmingdale, New York 11735
(“Lessor”), and JAMES L. DOLAN, with a mailing address at 1111 Stewart Avenue,
Bethpage, NY 11714 (“Lessee”). 

W
I T N E S S E T H: 

WHEREAS, CSC
is the lessee and the operator of a Gulfstream Aerospace GIV-SP aircraft, manufacturer’s
serial number 1230, United States registration N101CV (the “Aircraft”); and 

WHEREAS,
Lessor employs a fully-qualified and credentialed flight crew to operate the Aircraft; and 

WHEREAS, Lessor
has agreed to lease the Aircraft, with flight crew, to Lessee on a “time
sharing” basis as defined in Section 91.501(c)(1) of the Federal Aviation Regulations
(“FAR”) upon the terms and subject to the conditions set forth herein; 

NOW,
THEREFORE, in consideration of the foregoing premises, and the covenants and agreements
set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are acknowledged, Lessor and Lessee, intending to be legally bound,
hereby agree as follows: 

1.       Lease
of Aircraft. Lessor agrees to lease the Aircraft to Lessee pursuant to the
provisions of FAR Section 91.501(b)(6) and Section 91.501(c)(1) and this
Agreement, and to provide a fully-qualified and credentialed flight crew for all
flights to be conducted hereunder during the Term (as defined in Section 13)
hereof. The parties acknowledge and agree that this Agreement did not result in
any way from any direct or indirect advertising, holding out or soliciting on
the part of Lessor or any person purportedly acting on behalf of Lessor. Lessor
and Lessee intend that the lease of the Aircraft effected by this Agreement
shall be treated as a “wet lease” pursuant to which Lessor provides
transportation services to Lessee in accordance with FAR Section 91.501(b)(6)
and Section 91.501(c)(1). 

2.       Payment
for Use of Aircraft. Lessee shall pay Lessor the following actual expenses
of each flight conducted under this Agreement, not to exceed the maximum amount
legally payable for such flight under FAR Section 91.501(d)(1)-(10): 

1

	  	  	(a)  	  	 fuel,
oil, lubricants and other additives;  

	  	  	(b)  	  	 travel
expenses of crew, including food, lodging and ground transportation;  

	  	  	(c)  	  	 hangar
and tie-down costs away from the Aircraft’s base of operation;  

	  	  	(d)  	  	 additional
insurance obtained for the specific flight at the request of Lessee;  

	  	  	(e)  	  	 landing
fees, airport taxes and similar assessments;  

	  	  	(f)  	  	 customs,
foreign permit and similar fees directly related to the flight;  

	  	  	(g)  	  	 in-flight
food and beverages;  

	  	  	(h)  	  	 passenger
ground transportation;  

	  	  	(i)  	  	 flight
planning and weather contract services; and  

	  	  	(i)  	  	 an
additional charge equal to 100% of the expenses listed in Section 2(a).  

3.       Operational
Control of Aircraft. Lessor and Lessee intend and agree that on all flights
conducted under this Agreement, Lessor shall have complete and exclusive
operational control over the Aircraft, its flight crews and maintenance, and
complete and exclusive possession, command and control of the Aircraft. Lessor
shall have complete and exclusive responsibility for scheduling, dispatching and
flight following of the Aircraft on all flights conducted under this Agreement,
which responsibility includes the sole and exclusive right over initiating,
conducting and terminating such flights. Lessee shall have no responsibility for
scheduling, dispatching or flight following on any flight conducted under this
Agreement, nor any right over initiating, conducting or terminating any such
flight. Nothing in this Agreement is intended or shall be construed so as to
convey to Lessee any operational control over, or possession, command and
control of, the Aircraft, all of which are expressly retained by Lessor.

4.       Scheduling.  

(a)      Lessee
will provide Lessor with requests for flight time and proposed flight schedules
as far in advance of any given flight as possible. The designated authorized
representative(s) of Lessee shall submit scheduling requests under this
Agreement to the designated authorized representative(s) of Lessor. Requests for
flight time shall be in such form (whether oral or written) mutually convenient
to, and agreed upon by, the parties. In addition to proposed schedules and
flight times, Lessee shall upon request provide Lessor with the following 

2 

information for each proposed flight
prior to scheduled departure: (i) proposed departure point; (ii) destination; (iii) date
and time of flight; (iv) the number of anticipated passengers; (v) the nature and extent
of luggage to be carried; (vi) the date and time of a return flight, if any; and (vii)
any other pertinent information concerning the proposed flight that Lessor or the flight
crew may request.  

(b)      Subject
to Aircraft and crew availability, Lessor shall use its good faith efforts,
consistent with Lessor’s approved policies, in order to accommodate the
needs of Lessee, to avoid conflicts in scheduling, and to enable Lessee to enjoy
the benefits of this Agreement; however, Lessee acknowledges and agrees that
notwithstanding anything in this Agreement to the contrary, (i) Lessor shall
have sole and exclusive final authority over the scheduling of the Aircraft; and
(ii) the needs of Lessor for the Aircraft shall take precedence over
Lessee’s rights and Lessor’s obligations under this Agreement.

(c)      Although
every good faith effort shall be made to avoid its occurrence, any flight
scheduled under this Agreement is subject to cancellation by either party
without incurring liability to the other party. In the event that cancellation
is necessary, the canceling party shall provide the maximum notice practicable.

5.       Billing.
Lessor shall pay all expenses relating to the operation of the Aircraft under
this Agreement on a monthly basis. As soon as possible after the end of each
monthly period during the Term, Lessor shall provide to Lessee an invoice
showing all use of the Aircraft by Lessee under this Agreement during that month
and a complete accounting detailing all amounts payable by Lessee pursuant to
Section 2 for that month, including such detail supporting all expenses paid or
incurred by Lessor for which reimbursement is sought as Lessee may reasonably
request. Lessee shall pay all amounts due to Lessor under this Section 5 not
later than 30 days after receipt of the invoice therefore. Promptly after
execution of this Agreement, Lessee agrees to maintain with Lessor an
appropriate agreed-upon advance deposit, to be applied by Lessor against any
amounts owed under Section 2 and any Federal excise due on such amounts (with
any balance to be returned upon termination of this Agreement). 

6.       Maintenance
of Aircraft. Lessor shall be solely responsible for securing maintenance,
preventive maintenance and inspections of the Aircraft (utilizing an inspection
program listed in FAR Section 91.409(f)), and shall take such requirements into
account in scheduling the Aircraft hereunder. 

3 

7.       Flight
Crew.  

(a)                Lessor
shall employ or engage and pay all salaries, benefits and and/or compensation
for a fully-qualified flight crew with appropriate credentials to conduct each
flight undertaken under this Agreement. Lessor may use temporary flight
crewmembers for a flight under this Agreement only if any such temporary
crewmember is FlightSafety (or SimuFlite) trained, is current on the Aircraft
and satisfies all of the requirements and conditions under the insurance
coverage for the Aircraft. All flight crewmembers shall be included on any
insurance policies that Lessor is required to maintain hereunder. 

(b)      The
qualified flight crew provided by Lessor shall exercise all of its duties and
responsibilities with regard to the safety of each flight conducted hereunder in
accordance with applicable FAR’s. The Aircraft shall be operated under the
standards and policies established by Lessor. Final authority to initiate or
terminate each flight, and otherwise to decide all matters relating to the
safety of any given flight or requested flight, shall rest with the
pilot-in-command of that flight. The flight crew may, in its sole discretion,
terminate any flight, refuse to commence any flight, or take any other action
that, in the judgment of the pilot-in-command, is necessitated by considerations
of safety. No such termination or refusal to commence by the pilot-in-command
shall create or support any liability for loss, injury, damage or delay in favor
of Lessee or any other person. Lessor shall not be liable to Lessee or any other
person for loss, injury or damage occasioned by the delay or failure to furnish
the Aircraft and flight crew pursuant to this Agreement for any reason.

8.       Insurance.  

(a)                At
all times during the term of this Agreement, Lessor shall maintain at its sole
cost and expense (i) comprehensive aircraft and liability insurance against
bodily injury and property damage claims, including, without limitation,
contractual liability, premises damage, personal property liability, personal
injury liability, death and property damage liability, public and passenger
legal liability coverage, in an amount not less than $100,000,000 for each
single occurrence and (ii) hull insurance for the full replacement cost of the
aircraft. 

(b)                Any
policies of aircraft and liability insurance carried in accordance with this
Section 8 and any policies taken out in substitution or replacement of any such
policies (i) shall name Lessee and his employees, agents, licensees,
servants and guests as additional insured; (ii) shall provide for 30 days
written notice to Lessee by such insurer of cancellation, change, non-renewal or
reduction (seven days in the case of war risk and allied perils coverage or such
shorter period as is customarily available in the industry); (iii) shall
provide that in respect of the interests of Lessee in such policies, the
insurance shall not be invalidated by any action or inaction of Lessor
regardless of any breach or violation of any warranties, declarations or
conditions contained in such policies by or binding upon Lessor; and (iv) shall
permit the use of the Aircraft by Lessor for compensation or hire to the extent
permitted under applicable law. Each such policy shall be primary insurance, not
subject to any co-insurance clause and shall be without right of contribution
from any other insurance. 

(c)                Lessor
shall use reasonable commercial efforts to provide such additional insurance
coverage for specific flights under this Agreement, if any, as Lessee may
request in writing. Lessee also acknowledges that any trips scheduled to the
European Union require Lessor to purchase additional insurance to comply with
local regulations. The cost of all additional flight-specific insurance shall be
borne by Lessee as set forth in Section 2(d) hereof. 

(d)                Each
party agrees that it will not do any act or voluntarily suffer or permit any act
to be done whereby any insurance required hereunder shall or may be suspended,
impaired or defeated. In no event shall Lessor suffer or permit the Aircraft to
be used or operated under this Agreement without such insurance being fully in
effect. 

4 

(e)                Lessor
shall ensure that worker’s compensation insurance with all-states coverage
is provided for the Aircraft’s crew and maintenance personnel. 

(f)                Lessor
shall deliver certificates of insurance to Lessee with respect to the insurance
required or permitted to be provided by it hereunder not later than the first
flight of the Aircraft under this Agreement and upon the renewal date of each
policy. 

9.       Taxes.
Lessee shall be responsible for paying, and Lessor shall be responsible for
collecting from Lessee and paying over to the appropriate authorities, all
applicable Federal transportation taxes and sales, use or other excise taxes
imposed by any governmental authority in connection with any use of the Aircraft
by Lessee hereunder. Each party shall indemnify the other party against any and
all claims, liabilities, costs and expenses (including attorney’s fees as
and when incurred) arising out of its breach of this undertaking. 

10.       Lessee’s
Representations and Warranties. Lessee represents and warrants that:

(a)                He
will not use the Aircraft for the purposes of providing transportation of
passengers or cargo in air commerce for compensation or hire or for common
carriage. 

(b)                He
shall refrain from incurring any mechanic’s or other liens in connection
with inspection, preventive maintenance, maintenance or storage of the Aircraft,
and shall not attempt to convey, mortgage, assign, lease or in any way alienate
the Aircraft or create any kind of lien or security interest involving the
Aircraft or do anything or take any action that might mature into such a lien.

(c)                He
shall not lien or otherwise encumber or create or place any lien or other
encumbrance of any kind whatsoever, on or against the Aircraft for any reason.
He also will ensure that no liens or encumbrances of any kind whatsoever are
created or placed against the Aircraft for claims against Lessee or by Lessee.

(d)                He
will abide by and conform to all laws, governmental and airport orders, rules
and regulations, as shall be imposed upon the lessee of an aircraft under a time
sharing agreement, and applicable company policies of Lessor. 

11.       Lessor’s
Representations and Warranties. Lessor represents and warrants that it will
abide by and conform to all such laws, governmental and airport orders, rules
and regulations, as shall from time to time be in effect relating in any way to
the operation and use of the Aircraft pursuant to this Agreement. 

5 

12.       Disclaimer
of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, LESSOR HAS
MADE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE
AIRCRAFT, INCLUDING ANY WITH RESPECT TO ITS CONDITION, MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO
THE OTHER PARTY OR TO ANY OTHER PERSON FOR ANY INCIDENTIAL, CONSEQUENTIAL OR
SPECIAL DAMAGES, HOWEVER ARISING. 

13.       Term. The
term of this Agreement (the “Term”) shall commence on the effective
date hereof and, unless terminated in accordance with the provisions hereof,
shall remain in full force in effect for an initial term of one year and
thereafter shall automatically renew for successive one-year terms.
Notwithstanding the foregoing, either party shall have the right to terminate
this Agreement for any reason or no reason by written notice given to the other
party not less than 30 days prior to the proposed termination date. 

14.       Limitation
of Liability. Lessee, for himself and on behalf of his agents, guests,
invitees, licensees, servants and employees, covenants and agrees that the
insurance described in Section 8 hereof shall be the sole recourse for any and
all liabilities, claims, demands, suits, causes of action, losses, penalties,
fines, expenses or damages, including reasonable attorneys fees, court costs and
witness fees (collectively, “Loss”) attributable to the use, operation
or maintenance of the Aircraft pursuant to this Agreement or performance of or
failure to perform any obligation under this Agreement. 

15.       Relationship
of Parties. Lessor is strictly an independent contractor lessor/provider of
transportation services with respect to Lessee. Nothing in this Agreement is
intended, nor shall it be construed so as, to constitute the parties as partners
or joint venturers or principal and agent. All persons furnished by Lessor for
the performance of the operations and activities contemplated by this Agreement
shall at all times and for all purposes be considered Lessor’s employees or
agents. 

16.       Governing
Law; Severability. This Agreement shall be governed by and interpreted in
accordance with the laws of the State of New York, without regard to its choice
of law rules. If any provision of this Agreement conflicts with any statute or
rule of law of the State of New York, or is otherwise unenforceable, such
provision shall be deemed null and void only the extent of such conflict or
unenforceability, and shall be deemed separate from, and shall not invalidate,
any other provision of this Agreement. 

17.       Amendment.
This Agreement may not be amended, supplemented, modified or terminated, or any
of its terms varied, except by an agreement in writing signed by each of the
parties hereto. 

18.       Counterparts.
This Time Sharing Agreement may be executed in counterparts, each of which
shall, for all purposes, be deemed an original and all such counterparts, taken
together, shall constitute one and the same agreement, even though all parties
may not have executed the same counterpart. Each party may transmit its
signature by facsimile, and such faxed signature shall have the same force and
effect as an original signature. 

6 

19.       Successors
and Assigns. This Time Sharing Agreement shall be binding upon the parties
hereto, and their respective heirs, executors, administrators, other legal
representatives, successors and assigns, and shall inure to the benefit of the
parties hereto, and, except as otherwise provided herein, to their respective
heirs, executors, administrators, other legal representatives, successors and
permitted assigns. Lessee agrees that it shall not sublease, assign, transfer,
pledge or hypothecate this Agreement or any part hereof (including any
assignment or transfer pursuant to or as a part of any merger, consolidation or
transfer of assets) without the prior written consent of Lessor, which may be
given or withheld by Lessor in its sole and absolute discretion. 

20.       Notices.
All notices or other communications delivered or given under this Agreement
shall be in writing and shall be deemed to have been duly given if
hand-delivered, sent by certified or registered mail, return receipt requested,
or nationally-utilized overnight delivery service, or confirmed facsimile
transmission, as the case may be. Such notices shall be addressed to the parties
at the addresses set forth above, or to such other address as may be designated
by any party in a writing delivered to the other in the manner set forth in this
Section 20. In the case of notices to Lessor, a copy of each such notice shall
be sent to Cablevision Systems Corporation, 1111 Stewart Avenue, Bethpage, New
York 11714, attention: General Counsel. Notices sent by certified or registered
mail shall be deemed received three business days after being mailed. All other
notices shall be deemed received on the date delivered. Routine communications
may be made by e-mail or fax to the addresses set forth therein. 

21.       Truth-in-Leasing
Compliance. Lessor, on behalf of the Lessee, shall (i) mail a copy of this
Agreement to the Aircraft Registration Branch, Technical Section, of the FAA in
Oklahoma City within 24 hours of its execution; (ii) notify the Farmingdale
Flight Standards District Office at least 48 hours prior to the first flight by
Lessor under this Agreement of the registration number of the Aircraft, and the
location of the airport of departure and departure time of the first flight; and
(iii) carry a copy of this Agreement onboard the Aircraft at all times when the
Aircraft is being operated under this Agreement. 

22.       TRUTH
IN LEASING STATEMENT UNDER FAR SECTION 91.23: 

(A)                LESSOR
HEREBY CERTIFIES THAT THE AIRCRAFT HAS BEEN MAINTAINED AND INSPECTED UNDER FAR
PART 91 DURING THE 12-MONTH PERIOD PRECEDING THE DATE OF EXECUTION OF THIS
AGREEMENT. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN COMPLIANCE WITH THE
MAINTENANCE AND INSPECTION REQUIREMENTS OF FAR PART 91 FOR ALL OPERATIONS TO BE
CONDUCTED UNDER THIS AGREEMENT. 

(B)                CSC
TRANSPORT V, INC., 8000 REPUBLIC AIRPORT, HANGAR 5, FARMINGDALE, NEW YOUR
11735, HEREBY CERTIFIES THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE
AIRCRAFT FOR ALL OPERATIONS UNDER THIS AGREEMENT. 

7 

(C)                EACH
PARTY HEREBY CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE
WITH APPLICABLE FEDERAL AVIATION REGULATIONS. 

(D)                THE
PARTIES UNDERSTAND THAT AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL
CONTROL AND THE PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE
NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 

(signature page
follows) 

8 

IN
WITNESS WHEREOF, Lessor and Lessee have executed this Time Sharing Agreement
this 22nd day of November, 2006, effective as of the date first above written.

	  	LESSOR: 

	  	CSC TRANSPORT V, INC. 

	  	By:  	/s/ Michael P. Huseby 
	    	    	
 
	    	    	

Name:

Title: 
	
Michael P. Huseby

Executive Vice President

   and Chief Financial Officer

	  	LESSEE: 

	   	By:  	/s/ James L. Dolan 
	   	   	
 
	   	   	
James. L. Dolan

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]