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Exhibit 10.1

  

 
 

EMPLOYMENT AGREEMENT    
    

        THIS
EMPLOYMENT AGREEMENT ("Agreement") is entered into by and between Steve Berkowitz ("Executive") and AJI Acquisition Corp., a Delaware corporation (the "Company") and, solely for
purposes of Sections 1A and 3A(c), IAC/InterActive Corp., a Delaware corporation ("Parent"), dated as of March 20, 2005 and is effective as of the Effective Date (as defined below). In the
event that the Merger Agreement (as defined below) is terminated, this Agreement shall be void ab initio and of no further force and effect. All
capitalized terms used but not defined herein shall have the meaning set forth in the Merger Agreement. 

        WHEREAS,
Executive is currently serving as Chief Executive Officer of Ask Jeeves, Inc. ("Jeeves"); 

        WHEREAS,
the Company has entered into an Agreement and Plan of Merger and Reorganization (the "Merger Agreement"), by and among Parent, Ask Jeeves and the Company, dated as of
March 20, 2005, pursuant to which the Company will merge with and into Ask Jeeves with Ask Jeeves as the surviving corporation in the Merger (the "Merger") to be effective as of the Effective
Time (as defined in the Merger Agreement); 

        WHEREAS,
Parent and the Board of Directors of the Company (the "Board") desire to provide for the employment of Executive by the Company from and after the date upon which the Effective
Time occurs (the "Effective Date"), and Executive is willing to commit himself to serve the Company and its subsidiaries and affiliates, on the terms and conditions herein provided and to the extent
herein provided; 

        WHEREAS,
pursuant to the Merger Agreement, following the Effective Time, Ask Jeeves will assume the obligations and rights of the Company; 

        WHEREAS,
in order to effect the foregoing, the Company and Executive wish to enter into an employment agreement on the terms and conditions set forth below; 

        NOW,
THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows: 

1A.    EMPLOYMENT.    The Company agrees to employ Executive as Chief Executive Officer and Executive accepts and agrees to such
employment. During Executive's employment with the Company, Executive shall act diligently and do and perform all services and acts necessary or advisable to fulfill the duties and responsibilities as
are commensurate and consistent with Executive's position and shall render such services on the terms set forth herein. During the first year of Executive's employment with the Company, Executive
shall report directly to the Chief Executive Officer of the Parent and, following the first anniversary of the Effective Time Executive shall report directly to the Chief Executive Officer of the
Parent or, to the extent applicable to other chief executive officers of the Parent's subsidiaries generally, such other person as from time to time may be designated by Parent who reports directly to
the Chief Executive Officer of the Parent and has operational authority with respect to the Parent and its subsidiaries (hereinafter referred to as the "Reporting Officer"). Executive shall have such
powers and duties with respect to the Company as may reasonably be assigned to Executive by the Reporting Officer, to the extent consistent with Executive's position and status. Executive agrees to
devote all of Executive's working time, attention and efforts to the Company and to perform the duties of Executive's position in accordance with the Company's policies as in effect from time to time.
Executive's principal place of employment shall be the Company's offices located in Oakland, California metropolitan area. 

2A.    TERM OF AGREEMENT.    The term ("Term") of this Agreement shall commence on the Effective Date and shall continue for a
period of three (3) years, unless sooner terminated in accordance with the provisions of Section 1 of the Standard Terms and Conditions attached hereto. If 

 

Executive
remains in the Company's employment following the expiration of the Term, he shall be an employee at will. Executive and the Company will discuss extending the Term no later than three
months prior to the end of the Term, provided, that Executive has provided written notice to the Company between six and four months prior to the end of
the Term which sets forth his interest in entering into such discussions. 

3A.    COMPENSATION.    

        (a)    BASE SALARY.    During the Term, the Company shall pay Executive an annual base salary of $500,000 (the "Base
Salary"), payable in equal biweekly installments or in accordance with the Company's payroll practice as in effect from time to time. The Base Salary shall be reviewed by Parent, no less frequently
than annually in a manner consistent with similarly situated executives of Parent's subsidiaries. For all purposes under this Agreement, the term "Base Salary" shall refer to Base Salary as in effect
from time to time. 

        (b)    BONUS PLAN.    During the Term, Executive shall be eligible to receive discretionary annual bonuses,  provided that
Executive's target bonus shall be 80% of Base Salary ("Target Bonus"). 

        (c)    RESTRICTED STOCK UNITS.    Executive shall be granted as of the Effective Date a grant of restricted stock
units for common stock of the Parent with a fair market value of $1,000,000 as of the Effective Date (the "Regular Restricted Stock Units") and a grant of restricted stock units with a fair market
value of $2,000,000 as of the Effective Date (the "Leadership Restricted Stock Units"), pursuant to Parent's Amended and Restated 2000 Stock and Annual Incentive Plan or a successor plan (the "Plan")
and restricted stock unit agreements (the "Restricted Stock Unit Agreement"), subject to the approval by the Compensation Committee of the Board of Directors of the Parent. Subject to Executive's
continued employment with the Company and the provisions of Section 1(d) of the Standard Terms and Conditions attached hereto, the Regular Restricted Stock Units shall vest and no longer be
subject to any restriction in five equal installments on each of the first, second, third, fourth and fifth anniversaries of the Effective Date and the Leadership Restricted Stock Units shall vest on
the fifth anniversary of the Effective Date, provided that the Regular and Leadership Restricted Stock Units shall fully vest and no longer be subject
to any restrictions in the event of a Change in Control (as defined in the Plan). The terms of this Section 3A(c) shall be further supplemented by the terms of the Restricted Stock Unit
Agreements. For purposes of this Section 3A(c), "fair market value" shall mean the average closing prices of the common stock of the Parent over the 5-trading day period immediately
proceeding and including the Effective Date. During the Term, Executive shall be eligible to receive such additional grants of restricted stock units or other equity interests based on considerations
substantially similar to the considerations applicable to similarly situated senior executives of the subsidiaries of the Parent generally. 

        (d)    BENEFITS.    From the Effective Date through the date of termination of Executive's employment with the Company
for any reason, Executive shall be entitled to participate in equivalent welfare, health and life insurance, pension and other benefit programs (including eligibility to participate in incentive plans
or programs) as may be provided to senior executives of the Company generally. Without limiting the generality of the foregoing, Executive shall be entitled to the following benefits: 

        (i)    Reimbursement for Business Expenses.    During the Term, the Company shall reimburse Executive for all
reasonable and necessary expenses incurred by Executive in performing Executive's duties for the Company, on the same basis as similarly situated employees and in accordance with the Company's
policies as in effect from time to time. 

        (ii)    Vacation.    During the Term, Executive shall be entitled to paid vacation per year, in accordance with the
plans, policies, programs and practices of the Company applicable to similarly situated employees of the Company generally. 

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        (e)    RIGHTS UNDER STOCK PLANS.    Upon the Effective Time, all stock options granted to Executive by Ask Jeeves that
are then unvested and outstanding shall fully vest and remain exercisable until the earlier of (i) the expiration of the applicable option term or (ii) should Executive's employment
terminate before the applicable option term expires, the applicable post-termination option exercise period (and will be adjusted, under the Merger Agreement, into options for shares of
common stock of Parent). In addition, the Company acknowledges that immediately prior to the Effective Time, Executive shall become entitled to shares of Ask Jeeves common stock from Ask Jeeves
(which, as adjusted under the Merger Agreement, will result in the receipt of shares of common stock of Parent) to which he would have been entitled under the 1999 Equity Incentive Plan Conditional
Stock Award Agreement dated September 30, 2003, had he incurred an Involuntary Termination (as defined in the Conditional Stock Award Agreement) upon the Effective Date (90,000 shares of common
stock of Ask Jeeves as of the date of this Agreement). 

        (f)    BENEFITS LIMITATIONS.    Notwithstanding anything contained in this Agreement to the contrary, to the extent
that any payment or distribution of any type to Executive by Ask Jeeves or its affiliates, the Company, a Company affiliate, or the Parent, in connection with the Merger, whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or otherwise (including, without limitation, any accelerated vesting, or payment of stock options or other awards) (collectively,
the "Total Payments") is or will be subject to the excise tax imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the "Excise Tax"), then the Total Payments will be
reduced (but not below zero) so that the maximum amount of the Total Payments (after reduction) will be one dollar ($1) less than the amount that would cause the Total Payments to be subject to the
Excise Tax; provided that such reduction to the Total Payments will be made only if the total after-tax benefit to Executive is greater after giving effect to such reduction than if no
such reduction had been made. 

        Unless
Executive gives prior written notice specifying a different order to the Company to effectuate the foregoing, the Company will reduce or eliminate the Total Payments, by first
reducing or eliminating any cash severance benefits, then by reducing or eliminating any other remaining Total Payments other than any accelerated vesting of stock options or other awards, then by
reducing or eliminating any accelerated vesting of stock options or other awards. The preceding provisions of this Section take precedence over the provisions of any other plan, arrangement or
agreement governing Executive's rights and entitlements to any benefits or compensation. 

        The
determination of whether the Total Payments will be reduced as provided in this Section, and the determination of the amount of such reduction, will be made at the Company's expense
by a nationally recognized certified independent public account firm selected by the Company (the "Accounting
Firm"). The Accounting Firm will provide its determination (the "Determination"), together with detailed supporting calculations and documentation to Executive and the Company as soon as practicable
following the Effective Date. 

        It
is possible that Total Payments to Executive will initially be reduced to an extent greater than that required under the foregoing provisions of this Section (an "Underpayment"). It
is also possible that Total Payments will not initially be reduced to the extent required by the foregoing provisions of this Section (an "Overpayment"). The determination of any Underpayment or
Overpayment will be made by the Accounting Firm in accordance with the foregoing paragraph. In the event of an Underpayment, the amount of any such Underpayment shall be paid to Executive. In the
event of an Overpayment, Executive will promptly pay to the Company (without interest) the amount of such Overpayment. 

4A.    NOTICES.    All notices and other communications under this Agreement shall be in writing and shall be given by first-class
mail, certified or registered with return receipt requested or hand delivery acknowledged in writing by the recipient personally, and shall be deemed to have been duly given three 

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days
after mailing or immediately upon duly acknowledged hand delivery to the respective persons named below: 

	If to Parent:	 	IAC/InterActiveCorp

152 West 57th Street

New York, NY 10019

Attention: General Counsel
	

If to the Company:	
 	

Ask Jeeves, Inc.

555 12th Street

Suite 500

Oakland, CA 94607

Attention: General Counsel
	

 	
 	

With a copy to Parent at the address set forth above.
	

If to Executive:	
 	

To Executive's address most recently on file with the Company
	

 	
 	

With a copy to David Jacobs

Epstein, Becker & Green, P.C.

1875 Century Park East, Suite 500

Los Angeles, CA 90067

Either
party may change such party's address for notices by notice duly given pursuant hereto. 

5A.    GOVERNING LAW; JURISDICTION.    This Agreement and the legal relations thus created between the parties hereto shall be
governed by and construed under and in accordance with the laws of the State of California without reference to the principles of conflicts of laws. Any and all disputes between the parties which may
arise pursuant to this Agreement will be heard and determined before the appropriate federal court in California; provided, however, if the federal court in California declines jurisdiction, then the
parties may seek relief in the appropriate California state court. The parties acknowledge that such courts have jurisdiction to interpret and enforce the provisions of this Agreement, and the parties
consent to, and waive any and all objections that they may have as to, personal jurisdiction and/or venue in such courts. 

6A.    COUNTERPARTS.    This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but
all of which together will constitute one and the same instrument. Executive expressly understands and acknowledges that the Standard Terms and Conditions attached hereto are incorporated herein by
reference, deemed a part of this Agreement and are binding and enforceable provisions of this Agreement. References to "this Agreement" or the use of the term "hereof" shall refer to this Agreement
and the Standard Terms and Conditions attached hereto, taken as a whole. 

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        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement on
March 20, 2005. 

	 	 	AJI ACQUISITION CORP.
	

 	
 	

 By:

Title:
	

 	
 	

IAC/INTERACTIVE CORP.

(Solely for purposes of Sections 1A and 3A(c))
	

 	
 	

 By:

Title:
	

 	
 	

STEVE BERKOWITZ
	

 	
 	

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STANDARD TERMS AND CONDITIONS    
    

1.    TERMINATION OF EXECUTIVE'S EMPLOYMENT.    

        (a)    DEATH.    In the event Executive's employment hereunder is terminated by reason of Executive's death, the
Company shall pay Executive's designated beneficiary or beneficiaries, within 30 days of Executive's death in a lump sum in cash, Executive's Base Salary through the end of the month in which
death occurs and any Accrued Obligations (as defined in paragraph 1(f) below). 

        (b)    DISABILITY.    If, as a result of Executive's incapacity due to physical or mental illness ("Disability"),
Executive shall have been absent from the full-time performance of Executive's duties with the Company for a period of four consecutive months and, within 30 days after written
notice is provided to Executive by the Board (in accordance with Section 4A hereof), Executive shall not have returned to the full-time performance of Executive's duties,
Executive's employment under this Agreement may be terminated by the Board for Disability. During any period prior to such termination during which Executive is absent from the full-time
performance of Executive's duties with the Company due to Disability, the Company shall continue to pay Executive's Base Salary at the rate in effect at the commencement of such period of Disability,
offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company, and, to the extent not prohibited by the applicable disability insurance plan or
policy, all benefits which had been provided to Executive as of the time of commencement of the Disability. Upon termination of Executive's employment due to Disability, the Company shall pay
Executive within 30 days of such termination (i) Executive's Base Salary through the end of the month in which termination occurs in a lump sum in cash, offset by any amounts payable to
Executive under any disability insurance plan or policy provided by the Company; and (ii) any Accrued Obligations (as defined in paragraph 1(f) below). 

        (c)    TERMINATION FOR CAUSE/RESIGNATION WITHOUT GOOD REASON.    The Board may terminate Executive's employment under
this Agreement with or without Cause at any time and Executive may resign under this Agreement with or without Good Reason at any time. As used herein, "Cause" shall mean, and be limited to (whether
such conduct occurs prior to or following the Effective Time): (i) the plea of guilty or nolo contendere to, or conviction for, a felony offense
by Executive; provided, however, that after indictment, the Board may suspend Executive from the
rendition of services, but without limiting or modifying in any other way the Company's obligations under this Agreement; (ii) a material breach by Executive of a fiduciary duty owed to the
Company; (iii) a material breach by Executive of any of the covenants made by Executive in Section 2 hereof; (iv) the willful or gross neglect by Executive of the material duties
required by this Agreement other than by reason of Executive's disability; or (v) a knowing and material violation by Executive of any Company policy
pertaining to ethics, wrongdoing or conflicts of interest. Executive shall not be deemed to have engaged in conduct constituting Cause unless (i) Company provides Executive with notice of the
conduct or circumstances allegedly giving rise to a possible Cause determination and, if curable, allows Executive ten (10) days to cure such alleged conduct or circumstances and
(ii) Executive is given the opportunity, with reasonable advance notice, to present to the Board (with counsel) his position with regard to the alleged grounds for termination prior to the
Board making its determination regarding whether there is Cause for Executive's termination. Upon Executive's (A) termination of employment by the Board for Cause prior to the expiration of the
Term or (B) resignation without Good Reason prior to the expiration of the Term, this Agreement shall terminate without further obligation by the Company, except for the payment of any Accrued
Obligations (as defined in Section 1(f) below). 

        (d)    TERMINATION BY THE BOARD OTHER THAN FOR DEATH, DISABILITY OR CAUSE OR RESIGNATION BY EXECUTIVE FOR GOOD
REASON.    Upon termination of Executive's employment prior to expiration of the Term (i) by the Board without Cause (other than for death or Disability) or
(ii) by Executive for Good Reason (as defined below), then (a) the Company shall continue to pay Executive pursuant to its payroll practices, as severance pay, the Base Salary through
the end of the originally scheduled Term over the course thereof (with a minimum severance period of twelve (12) months of Base Salary) and a pro rata Target Bonus for the year of termination
based upon the number of full months in such fiscal year prior to Executive's termination of employment, and 

 

payable
when the Company pays its annual bonuses; provided, that, if so required by Section 409A of the Internal Revenue Code of 1986, as amended
("Section 409A"), such payments will not begin until the date that is six (6) months following Executive's date of termination, and the Company will pay Executive the amounts which would
otherwise have been paid on or prior to such date as of the date payments commence in accordance with this proviso, (b) the Company shall pay Executive within 30 days of the date of such
termination in a lump sum in cash any Accrued Obligations (as defined in Section 1(f) below), (c) notwithstanding the definitions of cause or good reason in the applicable Plan, the
Regular Restricted Stock Units will be vested in one additional 1/5 vesting tranche and the Leadership Stock Units will vest in 1/5 of the units for each anniversary
following the Effective Date prior to Executive's termination of employment plus one additional 1/5 of the units. The payment to Executive of the severance benefits described in this
Section 1(d) shall be subject to Executive's execution and non-revocation of a general release of the Company and its affiliates in a form substantially similar to that used for
similarly situated employees of the Company and its affiliates and Executive's compliance with the restrictive covenants set forth in Section 2. Executive acknowledges and agrees that the
Company's payment of severance benefits described in this Section 1(d) constitutes good and valuable consideration for such release. As used herein, "Good Reason" shall mean the occurrence of
any of the following without Executive's prior written consent: (A) the material reduction in Executive's title, duties or reporting responsibilities as Chief Executive Officer of the Company
(as in place immediately after the Effective Time), excluding for this purpose any such reduction that is an isolated and inadvertent action not taken in bad faith and that is remedied by the Company
promptly after receipt of notice thereof given by Executive or that is authorized pursuant to this Agreement, (B) a reduction in Executive's Base Salary, (C) any material breach of any
material provisions of this Agreement by the Company, (D) the requirement that Executive report to anyone other than the Chief Executive Officer of Parent during at any time prior to the first
anniversary of the Effective Date, or (E) the relocation of Executive's principal place of employment more than 50 miles from the Oakland, California metropolitan area,  provided that in no event
shall Executive's resignation be for "Good Reason" unless (x) an event or circumstance set forth in clauses
(A) through (D) shall have occurred and Executive provides the Company with written notice thereof within 90 days after Executive has knowledge of the occurrence or existence of
such event or circumstance, which notice specifically identifies the event or circumstance that Executive believes constitutes Good Reason, (y) if capable of being cured, the Company fails to
correct the circumstance or event so identified within 30 days after the receipt of such notice, and (z) Executive resigns within 90 days after the date of delivery of the notice
referred to in clause (x) above. 

        (e)    MITIGATION; OFFSET.    In the event of termination of Executive's employment prior to the end of the Term, in
no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of severance benefits or other compensation or benefits. If Executive obtains other
employment during the originally scheduled Term, all future amounts payable by the Company to Executive under Section 1(d)(a) shall be offset by the amount earned by Executive from such other
employment. For purposes of this Section 1(e), Executive shall have an obligation to inform the Company regarding Executive's employment status following termination and during the period
encompassing the Term. 

        (f)    ACCRUED OBLIGATIONS.    As used in this Agreement, "Accrued Obligations" shall mean the sum of (i) any
portion of Executive's accrued but unpaid Base Salary through the date of death or termination of employment for any reason, as the case may be; (ii) accrued vacation pay, to the extent
provided by applicable law, (iii) unpaid expense reimbursements and (iv) any compensation previously earned but deferred by Executive (together with any interest or earnings thereon)
that has not yet been paid, subject to any requirements of Section 409A. Executive shall also be entitled to reimbursement for reimbursable expenses under the Company's medical and dental
insurance plans which are incurred prior to the date of termination of employment, and to conversion and continuation benefits to the extent provided under any benefit plans or applicable law. 

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2.    CONFIDENTIAL INFORMATION; NON-SOLICITATION; AND PROPRIETARY RIGHTS.    

        (a)    CONFIDENTIALITY.    Executive acknowledges that while employed by the Company, Executive will occupy a position
of trust and confidence. Executive shall not, except as may be required to perform Executive's duties hereunder or as required by applicable law, without limitation in time or until such information
shall have become public other than by Executive's unauthorized disclosure, disclose to others or use, whether directly or indirectly, any Confidential Information regarding the Company or any of its
subsidiaries or affiliates. "Confidential Information" shall mean all information about the Company or any of its subsidiaries or affiliates, and their clients and customers that is not disclosed by
the Company or any of its subsidiaries or affiliates without confidentiality restrictions, and that was learned by Executive in the course of employment by the Company or any of its subsidiaries or
affiliates, including (without limitation) any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer
records) of the documents containing such Confidential Information. Executive acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its
subsidiaries or affiliates, and that such information gives the Company and its subsidiaries or affiliates a competitive advantage. Executive agrees to deliver or return to the Company, at the
Company's request at any time or upon termination or expiration of Executive's employment or as soon thereafter as possible, all documents, computer tapes and disks, records, lists, data, drawings,
prints, notes and written information (and all copies thereof) furnished by the Company and its subsidiaries or affiliates or prepared by Executive in the course of Executive's employment by the
Company and its subsidiaries or affiliates. If Executive is requested or required (by oral questions, interrogatories, requests for information or documents in legal proceedings, subpoena, civil
investigative demand or similar process) to disclose any of the Confidential Information, Executive shall provide the Company with prompt written notice of any such request or requirement so that the
Company may seek a protective order or other appropriate remedy or waive compliance with the provisions of this Section 2(a). If in the absence of a protective order or other remedy or the
receipt of a waiver by the Company, Executive is nonetheless, in the opinion of Executive's counsel, legally compelled to disclose Confidential Information to any tribunal, Executive may, without
liability under this Section 2(a), disclose only that portion of the Confidential Information which is legally required to be disclosed, provided that Executive uses reasonable efforts to
preserve the confidentiality of the Confidential Information, including, without limitation, by cooperating with the Company to obtain an appropriate protective order or other reliable assurance that
confidential treatment will be accorded to the Confidential
Information by such tribunal. As used in this Agreement, "subsidiaries" and "affiliates" shall mean any company controlled by, controlling or under common control with the Company. 

        (b)    NON-SOLICITATION OF EMPLOYEES.    Executive recognizes that he will possess confidential
information about other employees of the Company and its subsidiaries or affiliates relating to their education, experience, skills, abilities, compensation and benefits, and inter-personal
relationships with suppliers to and customers of the Company and its subsidiaries or affiliates. Executive recognizes that the information he will possess about these other employees is not generally
known, is of substantial value to the Company and its subsidiaries or affiliates in developing their respective businesses and in securing and retaining customers, and will be acquired by Executive
because of Executive's business position with the Company. Executive agrees that, during the period of Executive's employment with the Company or any of its subsidiaries and for a period of
12 months beyond Executive's date of termination of employment for any reason following the date hereof (the "Restricted Period"), Executive will not, directly or indirectly, solicit or recruit
any employee of the Company or any of its subsidiaries or affiliates for the purpose of being employed by Executive or by any business, individual, partnership, firm, corporation or other entity on
whose behalf Executive is acting as an agent, representative or employee and that Executive will not convey any such confidential information or trade secrets about other employees of the Company or
any of its subsidiaries or 

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affiliates
to any other person for purposes of such solicitation or recruitment except within the scope of Executive's duties hereunder. 

        (c)    NON-SOLICITATION OF BUSINESS PARTNERS.    During the Restricted Period, Executive shall not,
without the prior written consent of the Company, directly or indirectly, persuade or encourage or attempt to persuade or encourage any business partners or business affiliates of the Company or its
subsidiaries or affiliates (including suppliers, vendors, distributors, licensors or licensees) to (i) cease doing business with the Company or any of its subsidiaries or affiliates or to
(ii) engage in any business competitive with the Company or its subsidiaries or affiliates on its own or with any competitor of the Company or its subsidiaries or affiliates. 

        (d)    PROPRIETARY RIGHTS; ASSIGNMENT.    All Executive Developments shall be made for hire by Executive for the
Company or any of its subsidiaries or affiliates. "Executive Developments" means any discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine,
algorithm or other work or authorship that (i) relates to the business or operations of the Company or any of its subsidiaries, or (ii) results from or is suggested by any undertaking
assigned to Executive or work performed by Executive for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after working hours. All
Confidential Information and all Executive Developments shall remain the sole property of the Company or any of its subsidiaries or affiliates. Executive shall acquire no proprietary interest in any
Confidential Information or Executive Developments developed or acquired during the Term. To the extent Executive may, by operation of law or otherwise, acquire any right, title or interest in or to
any Confidential Information or Executive Development, Executive hereby assigns to the Company all such proprietary rights. Executive shall, both during and after the Term, upon the Company's request,
promptly execute and deliver to the Company all such assignments, certificates and instruments, and
shall promptly perform such other acts, as the Company may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect, enforce or defend the Company's
rights in Confidential Information and Executive Developments. 

        (e)    COMPLIANCE WITH POLICIES AND PROCEDURES.    During the Term, Executive shall adhere in all material respects to
the policies and standards of professionalism set forth in the Company's policies and procedures as they may exist from time to time and during the period of Executive's employment with the Company or
any of its subsidiaries, Executive shall not, without the prior written consent of the Company, directly or indirectly, engage in or become associated with a business competitive with any business of
the Company and its subsidiaries (a "Competitive Activity"). Executive shall be considered to have become "associated with a Competitive Activity" if Executive becomes directly or indirectly involved
as an owner, principal, employee, officer, director, independent contractor, representative, stockholder, financial backer, agent, partner, member, advisor, lender, or in any other individual or
representative capacity with any individual, partnership, corporation or other organization that is engaged in a Competitive Activity (a "Competitor"). Notwithstanding the foregoing, Executive may
make and retain investments, for investment purposes only, in less than three percent (3%) of the outstanding capital stock of any publicly traded Competitor if the stock of such Competitor is either
listed on a national stock exchange or on the NASDAQ National Market System. Executive hereby consents to, and expressly authorizes the Company's use of Executive's name and likeness in trade
publications and other media for trade or commercial purposes. 

        (f)    REMEDIES FOR BREACH.    Executive expressly agrees and understands that Executive will notify the Company in
writing of any alleged breach of this Agreement by the Company, and the Company will have 30 days from receipt of Executive's notice to cure any such breach. 

        Executive
expressly agrees and understands that the remedy at law for any breach by Executive of this Section 2 will be inadequate and that damages flowing from such breach are
not usually susceptible to being measured in monetary terms. Accordingly, it is acknowledged that upon Executive's violation 

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of
any provision of this Section 2 the Company shall be entitled to obtain from any court of competent jurisdiction immediate injunctive relief and obtain a temporary order restraining any
threatened or further breach as well as an equitable accounting of all profits or benefits arising out of such violation. Nothing in this Section 2 shall be deemed to limit the Company's
remedies at law or in equity for any breach by Executive of any of the provisions of this Section 2, which may be pursued by or available to the Company. 

        (g)    SURVIVAL OF PROVISIONS.    The obligations contained in this Section 2 shall, to the extent provided in
this Section 2, survive the termination or expiration of Executive's employment with the Company and, as applicable, shall be fully enforceable thereafter in accordance with the terms of this
Agreement. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 2 is excessive in duration or scope or is unreasonable or unenforceable
under the laws of that state, it is
the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state. 

3.    INDEMNIFICATION.    The Company shall indemnify and hold Executive harmless for acts and omissions in Executive's capacity as
an officer, director or employee of the Company to the maximum extent permitted under applicable law as provided by its by-laws. 

4.    TERMINATION OF PRIOR AGREEMENTS.    This Agreement constitutes the entire agreement between the parties and terminates and
supersedes any and all prior agreements and understandings (whether written or oral) between Executive and Ask Jeeves with respect to the subject matter of this Agreement including, from and after the
Effective Date, the letter agreement between Executive and the Company, dated January 19, 2005 (the "Prior Agreement"). In the event that the Merger Agreement is terminated, this Agreement
shall be void ab initio and of no further force and effect and the Prior Agreement shall remain fully in effect. Executive acknowledges and agrees that
neither the Company nor anyone acting on its behalf has made, and is not making, and in executing this Agreement, Executive has not relied upon, any representations, promises or inducements except to
the extent the same is expressly set forth in this Agreement. 

5.    ASSIGNMENT; SUCCESSORS.    This Agreement is personal in its nature and none of the parties hereto shall, without the consent
of the others, assign or transfer this Agreement or any rights or obligations hereunder, provided that, in the event of the merger, consolidation, transfer, or sale of all or substantially all of the
assets of the Company with or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor
shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder, and all references herein to the "Company" shall refer to such successor. 

6.    WITHHOLDING.    The Company shall make such deductions and withhold such amounts from each payment and benefit made or
provided to Executive hereunder, as may be required from time to time by applicable law, governmental regulation or order. 

7.    RESIGNATION FROM ALL POSITIONS.    Upon Executive's termination of employment, Executive will at the request of the Company
resign from all directorships and positions at the Company and at any of its subsidiaries or affiliates. 

8.    HEADING REFERENCES.    Section headings in this Agreement are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose. References to "this Agreement" or the use of the term "hereof" shall refer to these Standard Terms and Conditions and the Employment
Agreement attached hereto, taken as a whole. 

9.    WAIVER; MODIFICATION.    Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall
not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or 

5

 

power
hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing
executed by each party hereto. Prior to the Effective Time, the Company and Executive will not amend or modify this Agreement, or waive any rights of any party hereunder, without the prior consent of
Parent. Parent is intended to be, and shall be, a third-party beneficiary of this provision, with full rights of enforcement. Notwithstanding anything to the contrary herein, following the first
anniversary Effective Time neither the assignment of Executive to a different Reporting Officer due to a reorganization or an internal restructuring of the Company or its affiliated companies nor a
change in the title of the Reporting Officer shall constitute a modification or a breach of this Agreement, to the extent such event impacts other chief executive officers of Parent's subsidiaries
generally. 

10.    CODE SECTION 409A.    The parties hereto will act in good faith to equitably restructure any payments provided for in this
Agreement to the extent necessary to comply with Section 409A. 

11.    SEVERABILITY.    In the event that a court of competent jurisdiction determines that any portion of this Agreement is in
violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be stricken. All portions of this Agreement that do not violate any statute or
public policy shall continue in full force and effect. Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as
possible to the intentions of the parties under this Agreement. 

	 	 	AJI ACQUISITION CORP.
	

 	
 	

/s/  AJI ACQUISITION CORP.      

	

 	
 	

STEVE BERKOWITZ
	

 	
 	

/s/  STEVE BERKOWITZ      

6

QuickLinks

EMPLOYMENT AGREEMENT

STANDARD TERMS AND CONDITIONSQuickLinks
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Exhibit 4.15    
    

        [Face of Exchange Note]

        [Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]

	 
	 

	CUSIP:	

	

ISIN:	

	

Common Code:	

Floating Rate Senior Notes due 2012  

	 
	 
	 
	 
	 

	No.	
	 	$	

NTL CABLE PLC  

        NTL Cable PLC (the "Issuer" or the "Company") promises to pay to CEDE & CO. or its registered assigns, the principal sum of
                         U.S. Dollars on October 15, 2012. 

	Interest Payment Dates:	 	July 15, October 15, January 15 and April 15
	

Record Dates:	
 	

July 1, October 1, January 1 and April 1
	

Dated:	
 	

                        , 2005

1

 

        IN
WITNESS WHEREOF, the Company has caused this Note to be signed by its duly authorized director, officer or other authorized signatory. 

	 	 	NTL CABLE PLC
	

 	
 	
By:	

 Name:

Title:

2

 

 
 

Certificate of Authentication    
    

        This is one of the Floating Rate Senior Notes due 2012 referred to in the within-mentioned Indenture. 

Dated:                        ,
2005 

	 	 	THE BANK OF NEW YORK,
 as Trustee
	

 	
 	

By:	

 Authorized Signatory

3

 
 
 

[Reverse of Exchange Note]    

Floating
Rate Senior Notes due 2012 

        (1)   INTEREST. 

        (a)   NTL
Cable PLC, a public limited company organized under the laws of England and Wales (the "Issuer"), promises to pay interest on the principal amount of this Note at a
floating rate determined in accordance with the procedures described below and Special Interest, if any, from April 13, 2004 until maturity. The Issuer will pay interest and Special Interest,
if any, quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day
(each, an "Interest Payment Date"). Interest on the Notes will accrue from the most recent date to which interest has been paid on either this Note or the Initial Note (for which this Note was
exchanged) or, if no interest has been paid, from the date of issuance; provided that the first Interest Payment Date shall be July 15, 2004. The
Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, and on overdue installments of interest and
Special Interest, if any (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. 

        This
Note was issued in connection with the Exchange Offer pursuant to which the Initial Note in like principal amount was exchanged for this Note. 

        (b)   The
Floating Rate Notes will bear interest for each period at a rate determined by The Bank of New York, acting as calculation agent. The interest rate on the Floating
Rate Notes for a particular interest period will be a per annum rate equal to LIBOR, as determined on the interest determination date, plus 5.00%. The interest determination date for an interest
period will be the second London business day preceding the first day of such interest period. The interest determination date for the Floating Rate Notes for the first interest period is
April 7, 2004. Promptly upon determination, the calculation agent will inform the Trustee and the Issuer of the interest rate for the next interest period. Interest on the Floating Rate Notes
will be calculated on the basis of the actual number of days in an interest period and a 360-day year. Absent manifest error, the determination of the interest rate by the calculation
agent will be binding and conclusive on the Holders of the Floating Rate Notes, the Trustee and the Issuer. 

        (c)   "LIBOR"
means the London interbank offered rate. "London business day" is a day on which dealings in deposits in U.S. dollars are transacted in the London interbank
market. 

        (d)   On
any interest determination date, LIBOR will be equal to the offered rate for deposits in U.S. dollars having an index maturity of three months, in amounts of at least
$1.0 million, as such rate appears on Telerate Page 3750 at approximately 11:00 a.m., London time, on such interest determination date. If Telerate Page 3750 is replaced by another
service or ceases to exist, the calculation agent will use the replacing service or such other service that may be nominated by the British Bankers' Association for the purpose of displaying LIBOR for
U.S. dollar deposits. 

4

 

        (e)   If
no offered rate appears on Telerate Page 3750 on an interest determination date at approximately 11:00 a.m., London time, then the calculation agent (after
consultation with the Issuer) will select four major banks in the London interbank market and will request each of their principal London offices to provide a quotation of the rate (expressed as a
percentage per annum) at which deposits for a three-month period (beginning on the second London business day after the interest determination date) in U.S. dollars in amounts of at least
$1.0 million are offered by it to prime banks in the London interbank market, on that date and at that time, that is representative of a single transaction in that market at that time. If at
least two quotations are provided, LIBOR will be the arithmetic average of the quotations provided. Otherwise, the calculation agent will select three major banks in New York City and will request
each of them to provide a quotation of the rate (expressed as a percentage per annum) offered by them at approximately 11:00 a.m., New York City time, on the interest determination date for
loans in U.S. dollars to leading European banks having an index maturity of three months in an amount of at least $1.0 million that is representative of a single transaction in that market at
that time. If three quotations are provided, LIBOR will be the arithmetic average of the quotations provided. Otherwise, the rate of LIBOR for the next interest period will be set equal to the rate of
LIBOR for the then-current interest period. 

        (f)    All
percentages resulting from any of the above calculations will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five
one-millionths of a percentage point being rounded upwards (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts used in or resulting from such
calculations will be rounded to the nearest cent (with one-half cent being rounded upwards). 

        (g)   The
interest rate on the Floating Rate Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law
of general application. 

        (h)   The
calculation agent will, upon the request of the Holder of any Floating Rate Note, provide the interest rate then in effect with respect to the Floating Rate Notes. 

        (2)  METHOD OF PAYMENT. The Issuer will pay interest on the Notes and Special Interest, if any, to the Persons who are
registered Holders at the close of business on the January 1, April 1, July 1 or October 1 next preceding the Interest Payment Date, even if such Notes are canceled after
such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal,
premium and Special Interest, if any, and interest at the office or agency of the Issuer maintained for such purpose as provided in the Indenture or, at the option of the Issuer, payment of interest
and Special Interest, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment
by wire transfer of immediately available funds will be required with respect to principal of and interest, premium and Special Interest, if any, on all Global Notes and all other Notes the Holders of
which will have provided wire transfer instructions to the Issuer or the Paying Agent. Such payment will be in such coin or currency of the United States as at the time of payment is legal tender for
payment of public and private debts. 

        (3)
PAYING AGENT AND REGISTRAR. Initially, the Trustee will act as Paying Agent and Registrar and The Bank of New York
(Luxembourg) S.A. will act as Paying Agent in Luxembourg. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer or any of its Subsidiaries may act as Registrar. 

5

 

        (4)
INDENTURE. The Issuer issued the Notes under an Indenture, dated as of April 13, 2004 (the "Indenture"), among the
Issuer, Parent, the Intermediate Guarantors, the Senior Subordinated Subsidiary Guarantor and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the "TIA"). The Notes are subject to all such terms, and
Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the
Indenture shall govern and be controlling. The Notes are senior unsecured obligations of the Issuer. Unless otherwise defined herein, capitalized terms used herein have the meanings assigned to them
in the Indenture. 

        (5)
OPTIONAL REDEMPTION. Except as set forth in Section 3.10 of the Indenture, the Issuer may not redeem the Floating
Rate Notes prior to April 15, 2005. On or after this date, the Issuer may redeem the Floating Rate Notes, in whole or in part, on not less than 30 nor more than 60 days' prior notice, at
the following redemption prices (expressed as percentages of the principal amount), plus accrued and unpaid interest thereon and Special Interest, if any, to the redemption date (subject to the right
of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), if redeemed during the 12-month period commencing on April 15 of the
years set forth below: 

	Redemption Year
 
	 	Redemption Price

	2005	 	103%
	2006	 	102%
	2007	 	101%
	2008 and thereafter	 	100%

        (6)
MANDATORY REDEMPTION. The Issuer will not be required to make mandatory redemption or sinking fund payments with respect
to the Notes. 

        (7)
REPURCHASE AT OPTION OF HOLDER. 

        (a)   Upon
the occurrence at any time of a Triggering Event or Change of Control (other than a Change of Control resulting from a Merger Event), unless the Issuer has
exercised its right to redeem the Notes as described in Section 3.07 of the Indenture, each Holder will have the right to require the Issuer to purchase all or any part of such Holder's Notes
at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Special Interest thereon, if any, to the date of purchase (subject to the right of
Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). Within 30 days following any Triggering Event or Change of Control, the Issuer will
mail a notice to each Holder setting forth the procedures governing the Repurchase Offer as required by the Indenture. 

        (b)   In
the event of an Asset Disposition that requires the purchase of Notes pursuant to clause (c)(3) of Section 4.10 of the Indenture, the Issuer will be
required to commence an Excess Proceeds Offer pursuant to Section 3.09 of the Indenture to purchase the maximum principal amount of Notes that may be purchased out of the Allocable Excess
Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest and Special Interest thereon, if any, to the date fixed for the closing
of such offer in accordance with the procedures set forth in the Indenture. 

        (8)
NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before
the redemption date to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $1,000 may be redeemed in part but only in whole multiples of $1,000
unless all of the Notes held by a Holder are to be redeemed. On and after the redemption date interest ceases to accrue on Notes or portions thereof called for redemption. 

6

 

        (9)
DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $1,000 and
integral multiples of $1,000. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents. The Registrar may not require a Holder to pay any taxes and fees, except as otherwise set forth in the Indenture. The Registrar need not
exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Registrar need not exchange
or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

        (10)
PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes, except as otherwise
ordered by a court of competent jurisdiction. 

        (11)
AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture or the Notes may be amended or
supplemented with the consent of the Holders of at least a majority in principal amount of the then-outstanding Notes and Additional Notes, if any, and any existing default or compliance
with any provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then-outstanding Notes and Additional Notes, if any.
Without the consent of any Holder, the Indenture or the Notes may be amended or supplemented to cure any ambiguity, omission, defect or inconsistency, to provide for the assumption of the Issuer's
obligations to Holders in case of a merger or consolidation or sale of all or substantially all of the Issuer's assets, to provide for uncertificated Notes in addition to or in place of certificated
Notes, to make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect in any material respect the legal rights under the Indenture of any such
Holder, to comply with the requirements of the SEC in connection with the qualification of the Indenture under the TIA, to provide for the issuance of Additional Notes or Exchange Notes in accordance
with the limitations set forth in the Indenture, to mortgage, pledge, hypothecate or grant a security interest in any Property for the benefit of any Person in accordance with the limitations set
forth in the Indenture, or to add guarantors or guarantees with respect to the Notes. 

7

 

        (12)
DEFAULTS AND REMEDIES. Events of Default are set forth in the Indenture. If an Event of Default (other than an Event of
Default under the bankruptcy provisions described in Section 6.01(a)(7) of the Indenture with respect to the Issuer, any Intermediate Guarantor or any Subsidiary Guarantor) occurs and is
continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the outstanding Notes by notice to the Issuer may declare the principal of and accrued but unpaid interest on
all the Notes to be due and payable. If an Event of Default under the bankruptcy provisions described in Section 6.01(a)(7) of the Indenture with respect to the Issuer, any Intermediate
Guarantor or any Subsidiary Guarantor occurs, the unpaid principal of and interest on all the Notes will become immediately due and payable without any declaration or other act on the part of the
Trustee or any Holders. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in principal amount of the
then-outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except a
Default or Event of Default in payment of principal of, premium or Special Interest, if any, or interest on any Note) if it determines that withholding notice is in their interest. The Holders of a
majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of Default and its
consequences under the Indenture except a continuing Default or Event of Default in the payment of interest or premium and Special Interest on, or the principal of, the Notes. The Issuer is required
to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Issuer is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a
statement specifying such Default or Event of Default. 

        (13)
TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept deposits
from and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not the Trustee. 

        (14)
NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or stockholder of the Issuer, as such, will not
have any liability for any obligations of the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting a
Note, each Holder waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

        (15)
AUTHENTICATION. This Note will not be valid until authenticated by the manual or facsimile signature of the Trustee or
an authenticating agent. 

        (16)
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants
in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors Act). 

        (17)
CUSIP AND ISIN NUMBERS AND COMMON CODES. The Issuer has caused CUSIP and ISIN numbers and common codes to be printed on
the Notes and the Trustee may use CUSIP and ISIN numbers and common codes in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

        (18)  GOVERNING LAW. THE NOTES WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY). 

8

 

        The
Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

NTL
Cable PLC

ntl House

Bartley Wood Business Park

Hook

Hampshire, RG27 9UP

United Kingdom

Attention: Corporate Secretary 

9

 
 
 

ASSIGNMENT FORM    
    

        To assign this Note, fill in the form below: 

	 
	 	 

	

(I) or (we) assign and transfer this Note to:	 	
 (Insert assignee's legal name)
	

 (Insert assignee's soc. sec. or tax I.D. no.)
	

	

	

	

 (Print or type assignee's name, address and zip code)
	

and irrevocably appoint	
 	

	

to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.
	

Date:                                        
                  
	

 	
 	

Your
Signature:                                       
                                 

(Sign exactly as your name appears on the face of this Note)
	

Signature
Guarantee*:                                       
                   

*    Participant
in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

10

 
 
 

OPTION OF HOLDER TO ELECT PURCHASE    
    

        If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate box below: 

o
Section 4.10               o Section 4.15 

        If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.15 of the Indenture, state the
amount you elect to have purchased: 

	 
	 	 

	$                                        
                  
	

Date:                                        
                  
	

 	
 	

Your
Signature:                                       
                                 

(Sign exactly as your name appears on the face of this Note)
	

 	
 	

Tax Identification
No.:                                        
                                
	

Signature
Guarantee*:                                       
                   

*    Participant
in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

11

 
 
 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE    
    

        The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global
Note or Definitive Note for an interest in this Global Note, have been made: 

	Date of Exchange
 
	 	Amount of decrease in Principal Amount of this Global Note
	 	Amount of increase in Principal Amount of this Global Note
	 	Principal Amount of this Global Note following such decrease (or increase)
	 	Signature of authorized officer of Trustee or Custodian

	 	 	 	 	 	 	 	 	 

12

 
 
 

[FORM OF SUBORDINATED GUARANTEE]    
    

        For value received, the Senior Subordinated Subsidiary Guarantor, to the extent set forth in and subject to the terms of the Indenture, dated as of
April 13, 2004 (the "Indenture"), among NTL Cable PLC, a public limited company organized under the laws of England and Wales (the
"Issuer"), NTL Incorporated, a Delaware corporation ("Parent"), Communications Cable Funding Corp., a
Delaware corporation, NTL (UK) Group, Inc., a Delaware corporation, NTL Communications Limited, a limited company organized under the laws of England and Wales, NTL Investment Holdings Limited,
a limited company organized under the laws of England and Wales ("NTLIH" or the "Senior Subordinated Subsidiary
Guarantor"), and The Bank of New York, as trustee (the "Trustee"), hereby jointly and severally with each other Note Guarantor
irrevocably and unconditionally guarantees to each Holder and to the Trustee and its successors and assigns (1) the full and punctual payment when due, whether at Stated Maturity, by
acceleration, by redemption or otherwise, of all obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Notes, whether for payment of principal of or interest on
or premium or Special Interest, if any, on the Notes and all other monetary obligations of the Issuer under this Indenture and the Notes and (2) the full and punctual performance within
applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under this Indenture and the Notes (all the foregoing being hereinafter
collectively called the "Guaranteed Obligations"). The Senior Subordinated Subsidiary Guarantor further agrees that the Guaranteed Obligations may be
extended or renewed, in whole or in part, without notice or further assent from the Senior Subordinated Subsidiary Guarantor, and that the Senior Subordinated Subsidiary Guarantor shall remain bound
under this Guarantee notwithstanding any extension or renewal of any Guaranteed Obligation. 

        The
obligations of the Senior Subordinated Subsidiary Guarantor to the Holders and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth in
Article 11 and Article 12 of the Indenture, and reference is hereby made to the Indenture for the precise terms and limitations of this Guarantee. Each Holder of the Note to which this
Guarantee is endorsed, by accepting such Note, agrees to and shall be bound by such provisions. 

        The
Senior Subordinated Subsidiary Guarantee will be limited to an amount not to exceed the maximum amount that can be guaranteed by the Senior Subordinated Subsidiary Guarantor without
rendering such Senior Subordinated Subsidiary Guarantee voidable under applicable law relating to ultra vires, fraudulent conveyance, fraudulent transfer, corporate benefit or similar laws affecting
the rights of creditors generally. 

[Signature
on following page] 

13

 

        IN
WITNESS WHEREOF, the Senior Subordinated Subsidiary Guarantor has caused this Guarantee to be signed by a duly authorized officer. 

	 	 	NTL INVESTMENT HOLDINGS LIMITED
	

 	
 	
By:	

 Name:

Title:

14

 
 
 

[FORM OF SENIOR GUARANTEE]    
    

        For value received, each of the undersigned (the "Senior Guarantors"), to the extent set forth in and subject to
the terms of the Indenture, dated as of April 13, 2004 (the "Indenture"), among NTL Cable PLC, a public limited company organized under the laws
of England and Wales (the "Issuer"), NTL Incorporated, a Delaware corporation ("Parent"), Communications
Cable Funding Corp., a Delaware corporation, NTL (UK) Group, Inc., a Delaware corporation, NTL Communications Limited, a limited company organized under the laws of England and Wales, NTL
Investment Holdings Limited, a limited company organized under the laws of England and Wales ("NTLIH" or the "Senior
Subordinated Subsidiary Guarantor"), and The Bank of New York, as trustee (the "Trustee"), hereby jointly and severally with one
another and with the Senior Subordinated Subsidiary Guarantor irrevocably and unconditionally guarantees to each Holder and to the Trustee and its successors and assigns (1) the full and
punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all obligations of the Issuer under this Indenture (including obligations to the Trustee) and the
Notes, whether for payment of principal of or interest on or premium or Special Interest, if any, on the Notes and all other monetary obligations of the Issuer under this Indenture and the Notes and
(2) the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under this Indenture and
the Notes (all the foregoing being hereinafter collectively called the "Guaranteed Obligations"). Each Senior Guarantor further agrees that the
Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from such Note Guarantor, and that such Note Guarantor shall remain bound under this Guarantee
notwithstanding any extension or renewal of any Guaranteed Obligation. 

        The
obligations of each Senior Guarantor to the Holders and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth in Article 11 of the Indenture, and
reference is hereby made to the Indenture for the precise terms and limitations of this Guarantee. Each Holder of the Note to which this Guarantee is endorsed, by accepting such Note, agrees to and
shall be bound by such provisions. 

        Each
Senior Guarantee will be limited to an amount not to exceed the maximum amount that can be guaranteed by such Senior Guarantor without rendering such Senior Guarantee voidable under
applicable law relating to ultra vires, fraudulent conveyance, fraudulent transfer, corporate benefit or similar laws affecting the rights of creditors generally. 

[Signatures
on following page] 

15

 

        IN
WITNESS WHEREOF, the each Senior Guarantor has caused this Guarantee to be signed by a duly authorized officer. 

	

 	
 	
NTL INCORPORATED
	

 	
 	
By:	

 Name:

Title:
	

 	
 	
COMMUNICATIONS CABLE FUNDING CORP.
	

 	
 	
By:	

 Name:

Title:
	

 	
 	
NTL (UK) GROUP, INC.
	

 	
 	
By:	

 Name:

Title:
	

 	
 	
NTL COMMUNICATIONS LIMITED
	

 	
 	
By:	

 Name:

Title:

16

QuickLinks

Exhibit 4.15

Certificate of Authentication

[Reverse of Exchange Note ]

ASSIGNMENT FORM

OPTION OF HOLDER TO ELECT PURCHASE

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

[FORM OF SUBORDINATED GUARANTEE]

[FORM OF SENIOR GUARANTEE]

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