Document:

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                                                                   EXHIBIT 10.23

                                  MP3.COM, INC.
                               4790 EASTGATE MALL
                               SAN DIEGO, CA 92121

March 9, 2000

Thomas Spiegel
9465 Wilshire Blvd., Suite 900
Beverly Hills, CA 90212

Dear Tom:

This letter sets forth the terms and conditions of our agreement (the
"Agreement") regarding your resignation of employment with MP3.COM, INC. (the
"Company") and the consulting services you have agreed to provide to the
Company, effective as of the Effective Date provided in Section 16 herein. You
and the Company hereby agree as follows:

1. RESIGNATION. The Company accepts your resignation as an employee of the
Company as of March 9, 2000 (the "Separation Date").

2. ACCRUED SALARY AND VACATION. You agree and acknowledge that the Company has
paid you all accrued salary, and all accrued and unused vacation benefits earned
through the Separation Date, if any, subject to standard payroll deductions,
withholding taxes and other obligations.

3. EXPENSE REIMBURSEMENT. Within thirty (30) days of your execution of this
Agreement, you agree that you will submit your final documented expense
reimbursement statement reflecting all business expenses you incurred prior to
and including the Separation Date, if any, for which you seek reimbursement. The
Company shall reimburse your expenses pursuant to Company policy and regular
business practice.

4. COMPANY EQUIPMENT AND PERSONAL EFFECTS. The Company agrees that upon the
Effective Date, you may take ownership of the Company owned IBM laptop computer
and related accessories currently in your possession. The Company further agrees
that you may remove from the Company's offices any furniture or other personal
effects that have been paid for by you personally and not reimbursed by the
Company.

5. INSURANCE BENEFITS. To the extent provided by the federal COBRA law or, if
applicable, state insurance laws, and by the Company's current group health
insurance policies, you will be eligible to continue your health insurance
benefits at your own expense. Later, you may be able to convert to an individual
policy through the provider of the Company's health insurance, if you wish. You
will be provided with a separate notice of your COBRA rights.

6. RESTRICTED STOCK.

        (a) You and the Company acknowledge and agree that, pursuant to the
terms of your Early Exercise Stock Purchase Agreement dated May 3, 1999
("Initial Stock Purchase Agreement") for the purchase of an aggregate of 450,000
shares of the Common Stock of the

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Company (adjusted to reflect the Company's 3 for 2 stock split), the term and
vesting of such Common Stock will continue in accordance with the terms and
conditions of the Consulting Agreement attached hereto as Exhibit B and
referenced below in Section 8 hereof. It is understood and agreed for purposes
of this Section 6(a) that your transition from an employee to a consultant under
this Agreement is not intended to be an interruption of your continuous service
within the meaning of the Nonstatutory Stock Option Agreement attached as
Exhibit A to the Consulting Agreement attached hereto as Exhibit B.

        (b) You and the Company acknowledge and agree that, pursuant to the
terms of your Early Exercise Stock Purchase Agreement dated July 7, 1999 ("Stock
Purchase Agreement") for the purchase of an aggregate of 900,000 shares of the
Common Stock of the Company (adjusted to reflect the Company's 3 for 2 stock
split), the term and vesting of 300,000 shares of such Common Stock shall
continue beyond the Separation Date pro-rata on a monthly basis during the
Consulting Period such that all 300,000 shares of Common Stock are vested at the
end of the Consulting Period, subject to the provisions of Section 8(f) herein.
This Common Stock will otherwise remain subject to the terms and conditions of
the Stock Purchase Agreement, a copy of which is attached hereto as Exhibit A.
You understand and agree that the remaining 600,000 shares of Common Stock under
the Stock Purchase Agreement will be repurchased by the Company pursuant to its
repurchase right under the Stock Purchase Agreement on the Effective Date of
this Agreement.

7. OTHER COMPENSATION AND BENEFITS. Except as expressly provided herein, you
acknowledge and agree that you are not entitled to and will not receive any
additional compensation, severance, stock options, stock or benefits from the
Company. You agree and understand that, except as expressly provided herein, all
vesting under any stock compensation award (e.g., incentive stock option,
nonqualified stock option, stock purchase agreement, or restricted stock bonus
agreement) from the Company shall cease upon the Separation Date. Except as
expressly provided herein, any and all rights that you may have in the Company's
Employee Stock Purchase Plan or Equity Incentive Plan are determined in
accordance with the provisions of the applicable plan and any agreements signed
by you.

8. CONSULTING. In exchange for the promises and covenants set forth herein, you
and the Company agree that you shall continue to serve as a consultant pursuant
to the existing Consulting Agreement attached hereto as Exhibit B until April
20, 2000 and thereafter continue as a consultant through December 31, 2000 (the
"Consulting Period") pursuant to the terms herein.

        (a) CONSULTING SERVICES. During the Consulting Period, you shall be
available at reasonable times and upon reasonable notice to consult with the
Company in any area of your expertise, as requested by the Company's CEO or
President.

        (b) NO AGENCY OR EMPLOYMENT RELATIONSHIP. During the Consulting Period,
you will not be considered an agent or an employee of the Company; you will not
have authority to make any representation, contract, or commitment on behalf of
the Company and you agree not to do so; and you will not be entitled to any of
the benefits which the Company may make available to its employees, such as
group insurance, profit sharing, or retirement benefits.

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        (c) TAXES. During the Consulting Period, you will be solely responsible
for all tax returns and payments to any federal, state, or local tax authority
with respect to your performance of services and the receipt of fees or other
compensation and benefits under this Agreement. The Company will report amounts
paid to you by filing Form 1099-MISC with the Internal Revenue Service as
required by law. The Company will not: make withholdings or deductions from your
payment checks; make contributions for Social Security, employment insurance or
disability insurance; or obtain workers' compensation insurance on your behalf.
During the Consulting Period, you shall comply with all applicable state and
federal laws governing self-employed individuals, including obligations such as
payment of taxes, Social Security, disability and other contributions based on
compensation and benefits paid to you under this Agreement. You hereby indemnify
the Company against any and all such taxes or contributions, including penalties
and interest.

        (d) OTHER WORK ACTIVITIES. During the Consulting Period, you may engage
in full-time employment, consulting or other work relationships in addition to
your work for the Company; provided that, you do not violate the provisions of
Section 9 hereof. The Company agrees to make reasonable arrangements to enable
you to perform your consulting services for the Company at such times and in
such a manner so that it does not unreasonably interfere with other work
activities in which you may engage.

        (e) CONSULTING PAYMENT. The Company agrees to pay you an aggregate
amount of three hundred eighty thousand dollars ($380,000) in equal monthly
installments during the Consulting Period.

        (f) TERMINATION BY THE COMPANY. In the event that your consulting
relationship is terminated by the Company for "Cause" (as defined below) prior
to the end of the Consulting Period, you will not be entitled to the payments or
benefits described in Section 6(b) or this Section 8. For purposes of this
Agreement, "Cause" shall mean any of the following: (1) your conviction of any
crime involving moral turpitude or dishonesty, (2) your participation in a fraud
or act of dishonesty against the Company, (3) conduct by you that, based upon a
good faith factual investigation and determination by the Board, demonstrates
your gross unfitness to serve the Company, (4) your intentional, material
violation of any contract with the Company or any statutory duty to the Company
that is not corrected within thirty (30) days after written notice thereof, (5)
any gross negligence or wanton and willful misconduct by you relating to the
subject matter of this Agreement and your rendition of services to and for the
benefit of the Company hereunder, or (6) your material breach of Sections 9, 12
or 13 of this Agreement.

9. NONCOMPETITION AND NONSOLICITATION. You agree that during the Consulting
Period:

        (a) you shall not engage or prepare to engage, directly or indirectly,
whether as an owner, employee, officer, director, agent, consultant or
otherwise, in the geographic area of the United States, in a business the same
as or directly or indirectly competitive with any business conducted, or to your
knowledge planned as of the date hereof to be conducted, by the Company,
provided, however, that the ownership of five percent (5%) or less of the stock
of a company whose shares are listed on a national securities exchange or are
quoted on the National

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Association of Securities Dealers Automated Quotation System shall not be deemed
ownership or having an interest which is prohibited hereunder;

        (b) you shall not solicit any business from any customer of the Company
for products or services competitive with those of the Company, or request,
induce or advise customers of the Company to withdraw, curtail or cancel their
business with the Company; and

        (c) you shall not, either directly or through others, solicit any
employee, consultant, or independent contractor of the Company to terminate his
or her relationship with the Company in order to become an employee, consultant
or independent contractor to or for any other person or entity.

10. NO FURTHER EMPLOYMENT WITH THE COMPANY. You understand and agree that, as a
condition of this Agreement, you shall not be entitled to any employment or
re-employment with the Company, its parents, subsidiaries, or affiliates; you
hereby waive any right, or alleged right, of employment or re-employment with
the Company and any of its parents or subsidiaries, and you agree that you will
not apply for any such employment without prior written consent from the
Company, which consent may be withheld for any reason or no reason, and if you
inadvertently apply for or receive any such employment, you shall immediately
withdraw such application or resign such employment upon receipt of notice
thereof.

11. RETURN OF COMPANY PROPERTY. Within one month of the Separation Date, and
except as otherwise provided herein, you shall return to the Company all Company
documents (and all copies thereof) and other Company property that you have had
in your possession at any time, including, but not limited to, Company files,
notes, notebooks, memoranda, correspondence drawings, books and records, plans
and forecasts, financial information, personnel information, sales and marketing
information, research and development information, specifications,
computer-recorded information, tangible property (including, but not limited to,
and Company information maintained in electronic form), credit cards, entry
cards, identification badges and keys; and any materials of any kind that
contain or embody any proprietary or confidential information of the Company
(and all reproductions thereof).

12. PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT. You acknowledge your
continuing obligations to comply with your Proprietary Information and
Inventions Agreement, a copy of which is attached hereto as Exhibit C. You
further agree that the terms of the Proprietary Information and Inventions
Agreement will continue in full force and effect during the Consulting Period.

13. NONDISPARAGEMENT. You and the Company agree that neither party will at any
time disparage the other party, and the other party's officers, directors,
employees, shareholders and agents, in any manner likely to be harmful to them
or their business, business reputation or personal reputation; provided that
each party shall respond accurately and fully to any questions, inquiry or
request for information when required by legal process.

14. CONFIDENTIALITY. The provisions of this Agreement shall be held in strictest
confidence by you and the Company and shall not be publicized or disclosed in
any manner whatsoever; provided, however, that: (a) you may disclose this
Agreement, in confidence, to

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your immediate family; (b) the parties may disclose this Agreement in confidence
to their respective attorneys, accountants, auditors, tax preparers, and
financial advisors; (c) the Company may disclose this Agreement as necessary to
fulfill standard or legally required corporate reporting or disclosure
requirements; and (d) the parties may disclose this Agreement insofar as such
disclosure may be necessary to enforce its terms or as otherwise required by
law.

15. RELEASE OF CLAIMS. In exchange for the promises and covenants set forth
herein, you hereby release, acquit, and forever discharge the Company, its
parents and subsidiaries, and their officers, directors, agents, servants,
employees, attorneys, shareholders, partners, successors, assigns, affiliates,
customers, and clients of and from any and all claims liabilities, demands,
causes of action, costs, expenses, attorneys' fees, damages, indemnities and
obligations of every kind and nature, in law, equity, or otherwise, known and
unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or
in any way related to agreements, acts or conduct at any time prior to the
Effective Date, including, but not limited to: all such claims and demands
directly or indirectly arising out of or in any way connected with your
employment with the Company, the termination of that employment, and the
Company's performance of its obligations as your former employer; claims or
demands related to salary, bonuses, commissions, stock, stock options, or any
other ownership interests in the Company, vacation pay, fringe benefits, expense
reimbursements, severance pay, or any form of compensation; claims pursuant to
any federal, state or local law or cause of action including, but not limited
to, the California Fair Employment and Housing Act, the federal Civil Rights Act
of 1964, as amended; the federal Age Discrimination in Employment Act of 1967
("ADEA"), as amended; the federal Americans With Disabilities Act; tort law;
contract law; wrongful discharge; discrimination; harassment; fraud; defamation;
emotional distress; and breach of the implied covenant of good faith and fair
dealing. Notwithstanding the above, you do not release any claims you may have
(i) under this Agreement, or (ii) for indemnification pursuant to and in
accordance with applicable statutes and the applicable terms of the certificate
of incorporation or bylaws of the Company or under any indemnification
agreements, and any insurance coverage for such claims.

16. ADEA WAIVER. You further acknowledge that you are knowingly and voluntarily
waiving and releasing any rights you may have under ADEA. You also acknowledge
that the consideration given for the waiver and release to which you are
agreeing herein is in addition to anything of value to which you were already
entitled. You acknowledge that you are advised by this writing, as required by
the Older Workers Benefit Protection Act, that: (a) your waiver and release do
not apply to any rights or claims that may arise after the Effective Date of
this release; (b) you should consult with an attorney prior to executing this
release (although you may voluntarily choose not to do so); (c) you may have at
least twenty-one (21) days to consider this Agreement (although you may by your
own choice execute this release earlier); (d) you have seven (7) days following
the execution of this release to revoke your release of ADEA claims; and (e)
this Agreement shall not be effective until the date upon which the revocation
period has expired, therefore making the effective date the eighth day after
this release is signed by you (the "Effective Date").

17. SECTION 1542 WAIVER. In giving the releases herein, which includes claims
which may be unknown to you at present, you hereby acknowledge that you have
read and understand Section 1542 of the Civil Code of the State of California
which reads as follows:

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        A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
        KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
        RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
        SETTLEMENT WITH THE DEBTOR.

You hereby expressly waive and relinquish all rights and benefits under this
section and any law or legal principle of similar effect in any jurisdiction
with respect to claims released hereby.

18. NO ADMISSIONS. The parties hereto hereby acknowledge that this is a
compromise settlement of various matters, and it shall not be construed to be an
admission of any liability or obligation by either party to the other party or
to any other person whomsoever.

19. ARBITRATION. To ensure rapid and economical resolution of any disputes which
may arise under this Agreement, you and the Company agree that any and all
disputes or controversies of any nature whatsoever, arising from or regarding
the interpretation, performance, enforcement or breach of this Agreement shall
be resolved by confidential, final and binding arbitration (rather than trial by
jury or court or resolution in some other forum). Any arbitration proceeding
pursuant to this Agreement shall be conducted by American Arbitration
Association ("AAA") in San Diego, California, under the then-existing AAA rules
for Commercial Disputes. If a party brings an action under this Agreement and is
the prevailing party in the arbitration proceeding, such party shall be entitled
to recover from the other party reasonable attorneys' fees, arbitration expenses
and other recoverable costs incurred in connection with such arbitration
proceeding.

20. ENTIRE AGREEMENT. This Agreement, including all exhibits, constitutes the
complete, final and exclusive embodiment of the entire Agreement between you and
the Company with regard to the subject matter hereof. This Agreement is entered
into without reliance on any promise or representation, written or oral, other
than those expressly contained herein, and supercedes any such promises or
representations. This Agreement may not be modified except in a writing signed
by you and a duly authorized officer of the Company. Each party has carefully
read this Agreement, has been afforded the opportunity to be advised of its
meaning and consequences by his or its respective attorneys, and signed the same
of his or its free will.

21. SUCCESSORS AND ASSIGNS. This Agreement shall bind the heirs, personal
representatives, successors, assigns, executors, and administrators of each
party, and inures to the benefit of each party, its agents, directors, officers,
employees, servants, heirs, successors and assigns.

22. APPLICABLE LAW. This Agreement shall be deemed to have been entered into and
shall be construed and enforced in accordance with the laws of the State of
California as applied to contracts made and to be performed entirely within
California.

23. SEVERABILITY. If a court, arbitrator, or other authority of competent
jurisdiction determines that any term or provision of this Agreement is invalid
or unenforceable, in whole or in part, then the remaining terms and provisions
hereof shall be unimpaired, and the invalid or unenforceable term or provision
shall be replaced with a valid and enforceable term or provision that most
accurately represents the parties' intention with respect to the invalid or
unenforceable term or provision.

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24. AUTHORITY. You warrant and represent that there are no liens or claims of
lien or assignments in law or equity or otherwise of or against any of the
claims or causes of action released herein and that you are duly authorized to
give the release granted herein.

25. COUNTERPARTS. This Agreement may be executed in two counterparts, each of
which shall be deemed an original, all of which together shall constitute one
and the same instrument.

26. SECTION HEADINGS. The section and paragraph headings contained in this
Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement.

Please confirm your agreement to the foregoing terms and conditions by signing
and returning a copy of this letter to me on or before March 30, 2000.

Sincerely,

MP3.COM, INC.

/s/ PAUL OUYANG
----------------------------
Paul Ouyang
Chief Financial Officer and
Executive Vice-President

Attachments:
Exhibit A - Early Exercise Stock Purchase Agreement
Exhibit B - Consulting Agreement
Exhibit C - Proprietary Information and Inventions Agreement

HAVING READ THE FOREGOING, I HEREBY AGREE TO THE TERMS AND CONDITIONS STATED
ABOVE.

/s/ THOMAS SPIEGEL                                 Dated:  3/9/00
--------------------------------------------             -----------------------
THOMAS SPIEGEL

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                                    EXHIBIT A
                     EARLY EXERCISE STOCK PURCHASE AGREEMENT

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                                    EXHIBIT B
                              CONSULTING AGREEMENT

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                                    EXHIBIT C
                PROPRIETARY INFORMATION AND INVENTIONS AGREEMENTExhibit 4.1

                           CERTIFICATE OF DESIGNATION
                     PREFERENCES, RIGHTS AND LIMITATIONS OF
                           SERIES B PREFERRED STOCK OF
                       AMERICAN INDEPENDENT NETWORK, INC.

          (Pursuant to Section 151(g) of the General Corporation
                       Law of the State of Delaware)

     AMERICAN INDEPENDENT NETWORK, INC. (the "Corporation"), a corporation
organized and existing under the laws of the State of Delaware, does hereby
certify that:

     Pursuant to authority vested in this Board of Directors by Article IV of
the Corporation's Certificate of Incorporation, as amended, the Board of
Directors of the Corporation has duly adopted the following recitals, and
resolutions:

     WHEREAS, this corporation is authorized by its Certificate of
Incorporation, as amended, to issue 10,000,000 shares of Preferred Stock.
Issuable from time to time in one or more series; and

     WHEREAS, this Board of Directors is authorized to determine the rights.
preferences, privileges and restrictions granted to or imposed upon any such
series, to fix the number of shares constituting any such series, and to
determine the designation thereof, or any of them; and

     WHEREAS, this Board of Directors desires, pursuant to its authority as
aforesaid, to issue and to determine and fix the rights, preferences, privileges
and restrictions relating to the second series of said Preferred Stock. and the
number of shares constituting and the designation of said series.

     NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors hereby fixes
and determines the designation of, the number of shares constituting, and the
rights, preferences, privileges and restrictions relating to the second series
of Preferred Stock, as follows:

     1.   DESIGNATION.  The series of Preferred Stock provided for by this
resolution shall be designated "9% Convertible Redeemable Series B
Preferred Stock" (hereafter referred to as "Series B Stock").

     2.   AUTHORIZATION.  The number of shares constituting the Series B Stock
shall be 1,000,000 shares.

     3.   RANK.  The Series B Stock shall. with respect to dividend rights,
rights on redemption, rights on conversion and rights on liquidation,
winding up and dissolution, rank senior to all warrants and options to
purchase Common Stock established by the Board of Directors or the
Stockholders (all of such equity securities of the Corporation to which the
Series B Stock ranks senior are collectively referred to herein as "Junior
Stock").

     4. DIVIDENDS. The holders of outstanding Series B Stock shall be entitled
to receive, in preference to the holders of any Junior Stock in any fiscal year,
when and as declared by the Board of Directors, dividends at the annual rate of
$0.585 per share of Series B Stock, and no more, payable in cash quarterly, on
the 30th day of March, June, September and December, to holders of Series B
Stock of record on a date not more than 60 nor fewer than 10 days preceding each
respective payment date as specified by the Board of Directors or, if not so
specified, as provided by law, out of any assets at the time legally available
therefor. Dividends shall accrue on each share of Series B Stock from the date
of its original issuance and shall accrue from day to day, whether or not earned
or declared. Dividends shall be cumulative so that if dividends in respect of
any previous quarterly dividend period at that annual rate per share shall not
have been paid on or declared and set apart for all shares of Series B Stock at
the time outstanding, the deficiency shall be fully paid on or declared and set
apart for those shares before the corporation makes any distribution (as defined
below) to holders of Common Stock. "Distribution" in this paragraph 4 means the
transfer of cash or property without consideration, whether by way of dividend
or otherwise (except a dividend in Junior Stock as to dividends or assets) or
the purchase or redemption of shares of the corporation for cash or property
(except such Junior Stock), including any such transfer, purchase or redemption
by a subsidiary of the corporation.

     5. LIQUIDATION PREFERENCE. In the event of a voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, the holders of Series
B Stock shall be entitled to receive, out of the assets of the Corporation,
whether those assets are capital or surplus of any nature, an amount equal to
$10.00 per share of Series B Stock, plus all accrued and unpaid dividends on the
date of that distribution, and no more, before any payment shall be made or any
assets distributed to the holders of Junior Stock, and the remaining assets
shall be distributed ratably to the holders of Junior Stock. If upon
liquidation, dissolution, of winding up of the Corporation the assets thus
distributed among the holders of Series B Stock shall be insufficient to permit
the payment to those stockholders of the full preferential amounts, then the
entire assets of the Corporation to be distributed shall be distributed ratably
among the holders of Series B Stock.

     A consolidation or merger of the Corporation with or into any other
corporation or corporations, or a sale of all or substantially all of the assets
of the Corporation, shall not be deemed to be a liquidation, dissolution or
winding up, within the meaning of this paragraph.

     6. NO VOTING RIGHTS. Only shares of Common Stock shall entitle the holder
thereof to vote on matters requiring approval of the stockholders of the
Corporation. Series B Stock shall not, except as otherwise may be provided by
law, be entitled to vote on the election of directors or any other matter.

     7. REDEMPTION RIGHTS. The Corporation. at the option of the Board of
Directors, may at any time or from time to time after July 24, 1999 redeem the
whole or any part of Series B Stock by converting each outstanding share of
Series B Stock into two shares of Common Stock ("Redemption Shares"). In the
event less than all the outstanding Series B Stock is redeemed, the number of
shares to be redeemed and the method of effecting such redemption, which shall
be pro rata, shall be determined by the Board of Directors of the Corporation,
with such adjustments as may be reasonably necessary to eliminate the redemption
of fractional interests.

     Notice of every proposed redemption of Series B Stock shall be given not
more than 60 and not less than 30 days prior to any redemption date ("Redemption
Date") set by the Board of Directors for the redemption of shares of Series B
Stock pursuant to this paragraph. Such notice shall be given to each holder of
record of Series B Stock by mail, postage prepaid, addressed to each holder at
his or her post office address as shown by the records of the Corporation. Any
notice which is mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the holder receives such
notice. Failure to give such notice by mail, or any defect in such notice, to
any holder of Series B Stock designated for redemption shall not affect the
validity of the proceedings for the redemption of other shares of Series B
Stock.

     On or after the Redemption Date, each holder of Series B Stock called for
redemption shall surrender his or her certificate or certificates evidencing
Series B Stock to be redeemed to the Corporation at the place designated in such
notice and shall thereupon be entitled to receive the Redemption Shares. In case
less than all of the shams represented by any such surrendered certificate are
redeemed, a new certificate shall be issued representing the unredeemed shares.

     8.   CONVERSION RIGHTS.

          (a) Each holder of Series B Stock may at any time following the
earlier of (i) the completion of any merger or other business combination by the
Corporation wherein a controlling interest in the Corporation is acquired by
another entity or (ii) July 24, 1999 upon surrender of the certificates
therefor, convert any or all of such holder's Series B Stock into fully paid and
non-assessable Common Stock of the Corporation, at the rate of two shares of
Common Stock for each share of Series B Stock so surrendered for conversion,
subject to adjustment as provided hereinafter. Such option to convert shall be
exercised by surrendering for such purpose to the Corporation, at any place
where the Corporation shall maintain a transfer agent for its Common Stock or
Series B Stock, certificates representing the shares to be converted, duly
endorsed in blank or accompanied by proper instruments of transfer, and at the
time of such surrender, the person exercising such option to convert shall be
deemed to be the holder of record of Common Stock issuable on such conversion,
notwithstanding that the share register of the Corporation shall then be closed
or the certificates representing such shares of Common Stock shall not then be
actually delivered to such person.

          (b) The number of shares of Common Stock into which Series B Stock may
be converted shall be subject to adjustment from time to time in certain cases
as follows:

               (i) The Corporation shall be entitled to make such further
adjustments as it considers advisable in order that any event treated for
federal income tax purposes as a dividend or other distribution of stock or
stock rights will not be taxable, so far as practicable, to the recipient of
such dividends or distributions.

          (c) Whenever the amount of Common Stock deliverable upon the
conversion of Series B Stock shall be adjusted pursuant to the provisions
hereof, the Corporation shall forthwith file, at its principal executive office
and with any transfer agent or agents for Series B Stock and for its Common
Stock, a statement stating the adjusted amount of its Common Stock or other
securities deliverable per Series B Stock and setting forth in reasonable detail
the method of calculation and the facts requiring such adjustment and upon which
such calculation is based. Each adjustment shall remain in effect until a
subsequent adjustment hereunder is required.

          (d) The Corporation shall at all times reserve and keep available, out
of its authorized but unissued shares of Common Stock, the full number of shares
of Common Stock deliverable upon the conversion of all the then outstanding
shares of Series B Stock and shall take all such action and obtain all such
permits or orders as may be necessary to enable the Corporation lawfully to
issue such shares of Common Stock upon the conversion of shares of Series B
Stock.

          (e) No fractional shares of Common Stock shall be issued upon
conversion of Series B Stock. In lieu of any fractional shares to which the
holder would otherwise be entitled, the Corporation shall pay cash equal to the
product of such fraction multiplied by the fair market value of one share of the
Corporation's Common Stock on the date of conversion, as determined in good
faith by the Board of Directors.

     9. EXCLUSION OF OTHER RIGHTS. Except as herein provided or as may otherwise
be required by law, the shares of Series B Stock shall not have any preferences
or relative, participating, optional or other special rights other than those
specifically set forth in this resolution and in the Certificate of
Incorporation of the Corporation.

     IN WITNESS WHEREOF, AMERICAN INDEPENDENT NETWORK, INC. has caused this
Certificate of Designation to be signed by its President and Secretary this
30th day of August, 1996.

                              AMERICAN INDEPENDENT NETWORK. INC.

                              By:  /S/ RANDY MOSELEY
                                   ---------------------------------
                                   Randy Moseley
                                   President and Secretary

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