Document:

EXHIBIT 4.11

                                                                         FORM OF
                                                          DEBT WARRANT AGREEMENT

                                   VIACOM INC.

                                       AND

                 _____________________________________________,

                                  Warrant Agent

                            _________________________

                             DEBT WARRANT AGREEMENT

                          ____________________________

                          Providing for the Issuance of

                %[Notes/Debentures] Due         Purchase Warrants

                         Dated as of ____________, 20__

<PAGE>

                                WARRANT AGREEMENT

          THIS DEBT WARRANT AGREEMENT is entered into as of, 20__ between Viacom
Inc., a corporation incorporated under the laws of Delaware (the "Company") and
_____________________, a ________ incorporated under the laws of ____________
(the "Agent").

                              W I T N E S S E T H:

          WHEREAS,  the Company  proposes to issue ____ Warrants, each Warrant
entitling the registered owner thereof to purchase ___% [Notes/Debentures] Due
______ of the Company at the price and upon the terms and conditions herein set
forth; and

          WHEREAS, the Company is duly authorized to issue the Warrants as
provided in this Agreement; and

          WHEREAS, all things necessary have been done and performed to make the
Warrants when duly authenticated by the Agent and issued as provided for in this
Agreement legally valid and binding obligations of the Company with the benefits
and subject to the terms of this Agreement.

          NOW, THEREFORE, for good and valuable consideration mutually given and
received, the receipt and sufficiency thereof is hereby acknowledged, it is
hereby agreed and declared as follows:

                                    ARTICLE I
                                   DEFINITIONS

          SECTION 1.1. Definitions. Except as otherwise expressly provided or
unless the context otherwise requires, the terms defined in this Section 1.1
shall for all purposes of this Agreement, have the meanings herein specified,
the following definitions to be equally applicable to both the singular and
plural forms of any of the terms herein defined:

          The term "Agent" shall mean _____________, a _________ incorporated
     under the laws of ____________ or its lawful successors from time to time
     appointed in accordance with this Agreement.

          The term "Agreement" shall mean this Debt Warrant Agreement between
     the Company and the Agent, as such agreement is originally executed or as
     it may from time to time be supplemented, modified or amended as provided
     herein.

          The term "Business Day" shall mean any day which is not a Saturday or
     Sunday or which in the City of New York or ____________ is neither a legal
     holiday nor a day on which banking institutions are authorized by law or
     regulation to close.
<PAGE>

          The term "Company" shall mean Viacom Inc., a Delaware corporation,
     until a successor entity shall have become such pursuant to the applicable
     provisions of this Agreement and thereafter the term "Company" shall mean
     such successor entity.

          The term "Event of Default" shall mean any event specified as such in
     Section 6.1 hereof. An Event of Default shall "exist" if an Event of
     Default shall have occurred and be continuing.

          The term "Exercise Date" shall mean each date during the Exercise
     Period on which [Notes/Debentures] are purchased by a Registered Owner
     through the exercise of all or a portion of its Warrants.

          The term "Exercise Form" shall mean the form designated Exercise Form
     attached as Annex II to each Warrant.

          The term "Exercise Period" shall mean the period commencing at 9:00
     A.M. (_____ time) on _____________, 20__ and ending at 4:00 P.M. (_________
     time) on _____________, _____.

          The term "Exercise Price" shall have the meaning accorded such term in
     Section 2.1 of this Agreement.

          The term "Indenture" shall mean that certain Indenture dated as of
     ___________ between the Company and ___________, as trustee, as such
     Indenture was originally executed or as it may from time to time be
     supplemented, modified or amended in accordance with the terms thereof.

          The term "[Notes/Debentures]" means any or all, as the case may be, of
     the Company's ___% [Notes/Debentures] Due ___________, authenticated and
     delivered as provided in the Indenture.

          The term "Notice of Intent to Exercise" shall have the meaning
     accorded thereto in Section 4.1 of this Agreement. The form of Notice of
     Intent to Exercise is attached as Annex I to each Warrant.

          The term "Outstanding" when used with reference to the Warrants shall
     mean, as of the date of determination, all Warrants theretofore
     authenticated and delivered under this Agreement, except:

                         (a) Warrants theretofore canceled by the Agent or
                    delivered to the Agent for cancelation and

                         (b) Warrants in exchange for or in lieu of which other
                    Warrants shall have been authenticated and delivered under
                    this Agreement.

          The term "Person" shall mean an individual, a corporation, a
     partnership, a joint venture, an association, a joint stock company, a
     trust, an unincorporated organization, or a government or any agency,
     authority or political subdivision thereof.

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<PAGE>

          The term "Register" shall mean the books for the registration and
     transfer of Warrants which books are kept by the Agent pursuant to Section
     3.1 hereof.

          The term "Time of Expiry" means 4:00 p.m., _________ time, on
     ____________, 20__.

          The term "Warrantholders" or "Registered Owners" means the persons
     from time to time who are registered owners of the Warrants.

          The term "Warrantholders' Request" means an instrument signed in one
     or more counterparts by the Warrantholders entitled to purchase in the
     aggregate not less than a majority of the aggregate principal amount of
     [Notes/Debentures] which could be purchased pursuant to all Warrants then
     Outstanding requesting the Agent to take some action or proceeding
     specified therein.

          The term "Warrants" means the ___% [Notes/Debentures] Due 20__
     Purchase Warrants issued hereunder pursuant to which Warrantholders have
     the right to purchase [Notes/Debentures] on the terms and conditions herein
     set forth.

          The term "Written Order of the Company" and "Written Consent of the
     Company" mean, respectively, a written order or consent signed in the name
     of the Company by any one of its officers and may consist of one or more
     instruments so executed.

                                   ARTICLE II
                              ISSUANCE OF WARRANTS

         SECTION 2.1. Issuance And Terms Of Warrants. The issuance of Warrants
entitling the Registered Owners thereof to purchase up to an aggregate of not
more than [U.S. $/Specified Currency]_______ in principal amount of the
[Notes/Debentures] is hereby authorized. The Warrants are hereby designated as
the "[Notes/Debentures] Due Purchase Warrants." The Warrants shall be delivered
by the Company to the Agent to be authenticated by the Agent and delivered in
accordance with the Written Order of the Company. The Warrants shall be dated
________, 20__ and shall be issuable in fully registered form and in
denominations that permit the purchase upon exercise of [U.S. $/Specified
Currency]_______ principal amount of [Notes/Debentures] and any integral
multiples thereof.

          The Warrants shall be exercisable on any Business Day during the
Exercise Period. Each Warrant in the denomination of [U.S. $/Specified Currency]
shall entitle the Registered Owner thereof to exercise such Warrant in
accordance with and pursuant to the terms thereof for the purchase of a
[Note/Debenture] in the principal amount of [U.S. $/Specified Currency] at par
plus interest accrued thereon from _______________, _______, _____ to but not
including, the Exercise Date (the "Exercise Price").

          SECTION 2.2. Form of Warrants. The Warrants shall be in substantially
the form set out in this Section 2.2, with such additional provisions,
omissions, variations or substitutions as are not inconsistent with the
provisions of this Agreement. The Warrants may

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have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may, consistent herewith, be determined by the
officer executing such Warrants as evidenced by such officer's execution
thereof.

                                 FORM OF WARRANT

          Number R-W-___ _____ Warrant(s) Representing Right to Purchase Up to
[U.S. $/Specified Currency] ________ in Aggregate Principal Amount of ___%
[Notes/Debentures] Due _________.

          This Warrant expires at 4:00 p.m. (_______ time) on [________,
_________] and thereafter will be void and of no value. Notice of the holder's
intent to exercise this Warrant must be given to ________________, as Agent not
later than 4:00 P.M. (________ time) [____________, _____].

                                   VIACOM INC.

                        [NOTE/DEBENTURE] PURCHASE WARRANT

          THIS CERTIFIES THAT, for value received, ____________, the Registered
Owner hereof (herein sometimes called the "Warrantholder") is entitled, upon and
subject to the terms and conditions set forth herein and in the Debt Warrant
Agreement (the "Warrant Agreement") dated as of ___________, ____, ____ between
Viacom Inc. (the "Company") and ______________, as Agent, (the "Agent"), to
purchase at par plus interest accrued thereon, if any, at any time from 9:00
A.M. (___________ time) [____________, _____] to 4:00 P.M. (________ time)
[________________, _____], inclusive (each such date being referred to as an
"Exercise Date") up to [U.S. $/Specified Currency] ___________ in aggregate
principal amount of ___% [Notes/Debentures] Due 0000 (the "[Notes/Debentures]")
of Viacom Inc. (the "Company"), by providing written notice to the Agent of the
Warrantholder's intention to exercise its right to purchase provided for herein
specifying the number of Warrants which the Warrantholder wishes to exercise,
such notice to be provided in the notice form annexed hereto as Annex II not
earlier than 9:00 A.M. (________ time)on [_________________, ____] and not later
than 4:00 P.M. (___________ time) [____________, ___], and by surrendering to
the Agent at its principal office in _____________, ___________ on any Exercise
Date, this Warrant, with the Exercise Form on which this Warrant is exercised,
the [Notes/Debentures] will be delivered as described below against payment
therefor in [U.S. Federal Reserve or other United States/Specified Currency]
funds current and immediately available to the Agent at the amount designated in
the Warrant Agreement, in each case in an amount equal to the purchase price of
the [Notes/Debentures] so purchased pursuant to the exercise of this Warrant.

          This Warrant is one of a duly authorized issue of warrants issued
under the provisions of the Warrant Agreement. Reference is hereby made for
particulars of the rights of the Warrantholders and of the Company in respect
thereof and the terms and conditions upon which the Warrants are issue and held,
all to the sole effect as if the provisions of the Warrant Agreement were herein
set forth, to all of which the Warrantholder by acceptance hereof assents. The
Company will furnish to the Warrantholder, upon written request and without
charge, a copy

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of the Warrant Agreement. All capitalized terms not otherwise defined herein,
shall have the meanings ascribed thereto in the Warrant Agreement.

          The [Notes/Debentures] purchased pursuant to the exercise of this
Warrant will be mailed by certified mail return receipt requested to the person
specified in the Exercise Form annexed hereto at its address specified therein
or, if so specified in the Exercise Form, delivered to such person or its agent
at the principal office of the Agent in ______________ on the Exercise Date.

          If [Notes/Debentures] are purchased in an aggregate principal amount
which is less than the total principal amount of the [Note/Debentures] that can
be purchased pursuant to this Warrant, the Warrantholder hereof will be entitled
to receive without charge a new Warrant in respect of the balance of the
principal amounts of [Notes/Debentures] which the Registered Owner hereof was
entitled to purchase under the surrendered Warrant and which were not then
purchased.

          On presentation at the principal office of the Agent in ______________
subject to the provisions of the Warrant Agreement, one or more Warrants may be
exchanged for one or more Warrants entitling the Warrantholder to purchase an
equal aggregate principal amount of [Notes/Debentures] as may be purchased under
the Warrant or Warrants so exchanged. Nothing contained in this Warrant, the
Warrant Agreement or elsewhere shall be construed as conferring upon the
Warrantholder hereof any right or interest whatsoever as an owner of
[Notes/Debentures] or any other right or interest in respect thereof except as
herein and in the Warrant Agreement expressly provided.

          This Warrant is registered on the books of the Company and is
transferable only in accordance with the provisions of the Warrant Agreement by
surrender thereof at the principal office of the Agent duly endorsed or
accompanied by a written instrument of transfer duly executed by the Registered
Owner of this Warrant or its attorney duly authorized in writing all in
accordance with the terms and provisions of the Warrant Agreement.

          This Warrant and the Warrant Agreement are governed by and construed
in accordance with the laws of New York, without regard to principles of
conflicts of law.

          IN WITNESS WHEREOF the Company has caused this Warrant to be duly
executed as of _________________, ___.

                                          VIACOM INC.

                                          By____________________________________

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<PAGE>

                          Certificate of Authentication

This is one of the Warrants described in the within-mentioned Debt Warrant
Agreement

______________________, as Agent

By______________________________________
           Authorized Officer

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<PAGE>

                     ANNEX I - NOTICE OF INTENT TO EXERCISE

         TO:

          The undersigned Warrantholder of _____ Warrants evidenced by Warrant
Number______ (the "Warrant") hereby notifies you pursuant to Section 4.1 of the
Debt Warrant Agreement dated as of _______, __ (the "Warrant Agreement") between
Viacom Inc. (the "Company") and [__________, the undersigned], of the
undersigned's intention to exercise _______ of such Warrants on ____________,
____) (the "Exercise Date") to purchase [U.S. $/Specified Currency]
________________ in aggregate principal amount of the Company's ___%
[Notes/Debentures] Due __________________ (the "[Notes/Debentures]") at par plus
interest accrued, if any, from and after [___________, _____]. The purchase
price shall be a total of [U.S. $/Specified Currency] __________ representing
[U.S. $/Specified Currency] _______ in principal and [U.S. $/Specified Currency]
in accrued interest.

          The Warrant with the Exercise Form duly completed shall be delivered
to the Agent at its principal office in ________________, ________. Payment of
the purchase price of the [Notes/Debentures] shall be made in [U.S. Federal
Reserve or other United States/Specified Currency funds] immediately available
at the principal office of the Agent on the Exercise Date. The undersigned shall
direct such [Notes/Debentures] be registered and delivered in the name(s) and
the amount(s) set forth opposite the undersigned's name on Annex II to the
Warrant.

          DATED this _____ day of ____________, ____.

                                                 [NAME OF WARRANTHOLDER]

                                                 By_____________________________

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<PAGE>

                            ANNEX II - EXERCISE FORM

         TO:

          The undersigned Warrantholder of ______ Warrants evidenced by the
Warrant attached hereto hereby exercises on _____________, ____ (the "Exercise
Date") Warrants to purchase [U.S. $/Specified Currency] _______ in aggregate
principal amount of VIACOM INC.'s ___% [Notes/Debentures] Due ____________ (the
"[Notes/Debentures]") at par plus $______ in accrued interest on the
[Notes/Debentures] from [_________________, ___], and agrees to transfer on the
Exercise Date in [U.S. $/Specified Currency] funds immediately available to the
Agent (at [account]) such purchase price of the [Notes/Debentures] all in
accordance with the terms and conditions of the Debt Warrant Agreement dated as
of ____________, ____ (the "Warrant Agreement") between VIACOM INC. and
[____________________], as Agent. The undersigned hereby irrevocably directs
that such [Notes/Debentures] be registered and delivered in accordance with the
directions set forth herein.

          The undersigned acknowledges that all taxes or other governmental
charges payable upon the registration and delivery of such [Notes/Debentures]
(other than in connection with each original issue and sale of the
[Notes/Debentures]), including any transfer taxes payable if the
[Notes/Debentures] are to be registered in the name of a person or persons other
than the undersigned Warrantholder, must be paid by the undersigned.

          DATED this _________ day of _____________, ___.

                                             [NAME OF WARRANTHOLDER]

                                             By_________________________________

Please check box if [Notes/Debentures] are to be delivered at the offices of
_________ on the Exercise Date, failing which the [Notes/Debentures] will be
mailed by certified mail return receipt requested.

Unless the foregoing box is checked, the [Notes/Debentures] shall be delivered
to the Warrantholder at its address set forth in the Register.

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<PAGE>

          SECTION 2.3. Mutilated, Lost, Destroyed or Stolen Warrants. If (i) any
mutilated Warrant is surrendered to the Agent, or the Company and the Agent
receive evidence to their satisfaction of the destruction, loss or theft of any
Warrant and (ii) there is delivered to the Company and the Agent such security
or indemnity as may be required by them to save each of them harmless, then, in
the absence of notice to the Company or the Agent that such Warrant has been
acquired by a bona fide purchaser, the Company shall execute and upon its
request the Agent shall authenticate and deliver, in exchange for or in lieu of
any such mutilated, destroyed, lost or stolen Warrant, a new Warrant of the same
principal amount, bearing a number not contemporaneously Outstanding.

          Upon the issuance of any new Warrant under this Section 2.3, the
Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other
expenses connected therewith.

          Every new Warrant issued pursuant to this Section 2.3 in lieu of any
destroyed, lost or stolen Warrant shall constitute an original additional
contractual obligation of the Company, whether or not the destroyed, lost or
stolen Warrant shall be at any time enforceable by anyone, and shall be entitled
to all the security and benefits of this Agreement equally and ratably with all
other Outstanding Warrants.

          The provisions of this Section 2.3 are exclusive and shall preclude
(to the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Warrants.

          SECTION 2.4. Warrantholder Not a Registered Owner of the
[Notes/Debentures]. The ownership of a Warrant shall not constitute the
Registered Owner thereof an owner of any of the [Notes/Debentures] nor entitle
the Registered Owner to any right or interest in respect thereof except upon the
exercise and surrender of its Warrants and the payment of the purchase price of
the [Notes/Debentures] in accordance with and pursuant to the terms herein
provided.

          SECTION 2.5. Warrants to Rank Pari Passu. All Warrants shall rank pari
passu with each other.

          SECTION 2.6. Execution of Warrants. The Warrants shall be signed in
the name and on behalf of the Company by one of its officers. The signature of
the officer executing the Warrants may be manual or facsimile. In case any
officer of the Company who shall have signed any of the Warrants (manually or in
facsimile) shall cease to be such officer before the Warrants so signed shall
have been authenticated and delivered by the Agent, such Warrants nevertheless
may be authenticated and delivered as though the Person who signed such Warrants
had not ceased to be such officer of the Company. Also, any Warrant may be
signed on behalf of the Company by such Persons as on the actual date of
execution of such Warrant shall be the proper officers of the Company, although
at the date of the execution of this Agreement any such Person was not such
officer.

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<PAGE>

          Only such of the Warrants as shall bear thereon a certificate of
authentication in substantially the form set forth in Section 2.2 hereof,
executed by the Agent, shall be entitled to the benefits of this Agreement or be
valid or obligatory for any purpose.

          SECTION 2.7. Purchase of Warrants by the Company. The Company may
purchase in the market, by private contracts or otherwise all or any portion of
the Warrants on such terms as the Company may determine.

                                  ARTICLE III
                      EXCHANGE OF WARRANTS; REGISTRATION OF
                 TRANSFER OF WARRANTS; NOTICE TO WARRANTHOLDERS

          SECTION 3.1. Register. The Agent, as agent of the Company, shall
maintain, at its principal office in ____________, ____, the Register in which,
subject to such reasonable regulations as it and the Company may prescribe, it
shall provide for the registration of the Warrants and the transfer of Warrants
as in this Agreement provided. The Register shall be in written form or in any
other form capable of being converted into written form within a reasonable
time. The Registered Owners of the Warrants shall present directly to the Agent
all requests for (a) registration of transfer of Warrants, (b) exchange of
Warrants for new Warrants in authorized denominations and (c) replacement of
Warrants in the case of mutilation, destruction, loss or theft.

          Upon the Company's request, the Agent shall furnish the Company with a
list of names and addresses of the Registered Owners showing the number of such
Warrants held by each Registered Owner.

          SECTION 3.2. Exchange of Warrants. Warrants entitling the Registered
Owner to purchase any specified principal amount of [Notes/Debentures] may, upon
compliance with the reasonable requirements of the Agent, be exchanged for
Warrants entitling the Registered Owner thereof to purchase an equal aggregate
principal amount of [Notes/Debentures].

          Warrants may be exchanged only at the principal office of the Agent in
_______________, ___ or at any other place that is designated by the Company.
Any Warrants tendered for exchange shall be surrendered to the Agent and
canceled. The Company shall execute all Warrants necessary to carry out
exchanges as aforesaid and such Warrants shall be authenticated by the Agent.

          SECTION 3.3. Charges for Exchange. For each Warrant exchanged or
transferred, the Agent, except as otherwise herein provided, shall, if required
by the Company, charge a reasonable sum for each new Warrant issued; and payment
of such charges and reimbursement of the Agent or the Company for any taxes or
governmental or other charges required to be paid shall be made by the party
requesting such exchange, as a condition precedent thereto.

          SECTION 3.4. Registration of Transfer; Restrictions on Transfers. No
transfer of a Warrant shall be valid unless made at the principal offices of the
Agent in the ____________, __________ or at any other place that is designated
by the Company as an office

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<PAGE>

for registration of transfer by the Registered Owner or such Registered Owner's
executors, administrators or other legal representatives or attorney duly
appointed by an instrument in writing in form and execution satisfactory to the
Agent and upon compliance with such reasonable requirements as the Agent and the
Company may prescribe. Any Warrants tendered for registration of transfer shall
be surrendered to the Agent.

          SECTION 3.5. Notice to Warrantholders. Unless herein otherwise
expressly provided, any notice to be given hereunder to Warrantholders shall be
deemed to be validly given if such notice is mailed to the last addresses of the
Warrantholders appearing on the Register. Any notice so given shall be deemed to
have been given on the day on which it has been mailed. In determining under any
provision hereof the date when notice of any meeting or other event must be
given, the date of giving notice shall be included and the date of the meeting
or other event shall be excluded.

                                   ARTICLE IV
                              EXERCISE OF WARRANTS

          SECTION 4.1. Method of Exercise of Warrants. The Registered Owner of
any Warrant may exercise the right thereby to purchase [Notes/Debentures] by
surrendering to the Agent on any Business Day during the Exercise Period at the
principal office of the Agent ___________, ___________, or at any other place or
places that may be designated by the Company:

          (a) at least 3 Business  Days prior to the  exercise  of its
     Warrants, a completed and executed Notice of Intent to Exercise
     in the form thereof set forth in Annex I to each Warrant (a "Notice of
     Intent to Exercise");

          (b) on the Exercise Date, a duly completed and executed Exercise Form
     in the form thereof set forth in Annex II to each Warrant;

          (c) on the Exercise Date, its Warrant or Warrants which it is
     exercising; and

          (d) on the Exercise Date, the Exercise Price in funds immediately
     available to the Company.

          The items described in the foregoing clauses (a) and (b) shall be
deemed received when an actual copy or a facsimile thereof is received by the
Agent. Each Warrant shall be deemed to be surrendered only upon personal
delivery thereof to or, if sent by mail or other means of transmission, upon
receipt thereof by, the Agent at the office specified in this Section 4.1. Each
Warrant shall be deemed exercised as of the first Business Day on which all of
the foregoing conditions are satisfied with respect to such Warrant. The first
day on which the Warrants may be exercised is ________________, ____________,
___. The Company acknowledges that the Registered Owners of the Warrants are not
required under any circumstances to take any other actions in order to exercise
their Warrants.

          SECTION 4.2. Effect of Exercise of Warrants. Upon surrender and
payment of the Exercise Price by the Registered Owner of any Warrant in
accordance with Section 4.1, the

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[Notes/Debentures] so purchased shall be deemed to have been issued and the
person or persons to whom such [Notes/Debentures] are to be issued shall be
deemed to have become the Registered Owner or owners of such [Notes/Debentures]
on the [Exercise Date].

          After the due exercise of a Warrant as aforesaid, the Company shall
forthwith cause to be delivered to the person to whom the [Notes/Debentures] so
purchased are to be issued at the address specified in such form or, if so
specified in such purchase form, cause to be delivered to such person at the
office where such Warrant was surrendered, a [Note/Debenture] or
[Notes/Debentures] in the form or forms and in the denominations requested and
for the appropriate principal amount of [Notes/Debentures] not exceeding the
principal amount which the Warrantholder is entitled to purchase pursuant to the
Warrant surrendered.

          SECTION 4.3. Partial Exercise of Warrants. Subject to the issuance of
[Notes/Debentures] in authorized denominations only, the Registered Owner of any
Warrant may purchase (Notes/Debentures] in a principal amount less than that
which such Registered Owner is entitled to purchase pursuant to the surrendered
Warrant. In the event of any purchase of a principal amount of
[Notes/Debentures] less than the principal amount which can be purchased
pursuant to a Warrant, the Registered Owner thereof upon exercise thereof prior
to the Time of Expiry shall, in addition, be entitled to receive forthwith a new
Warrant in respect of the balance of the principal amount of [Notes/Debentures]
which such Registered Owner was entitled to purchase pursuant to the surrendered
Warrant and which were not then exercised. The Company shall not be responsible
for any taxes which may be payable in connection with the issuance of such new
Warrant.

          SECTION 4.4. Expiration of Warrants. After the Time of Expiry, all
rights under any Warrant in respect of which the right of purchase herein and
therein provided for shall not theretofore have been exercised pursuant to
Section 4.1 shall cease and terminate and such Warrant shall become void and of
no effect and all rights of the Registered Owner thereof under this Warrant
Agreement shall cease and terminate as of such termination; provided that such
Registered Owner's rights under this Warrant Agreement with respect to actions
occurring prior to such termination shall remain in full force. After the Time
of Expiry, each Registered Owner of any Warrants shall return any unexercised
Warrants to the Agent for cancelation in accordance with Section 4.5 of this
Agreement.

          SECTION 4.5. Cancellation of Surrendered Warrants. All Warrants
surrendered to the Agent pursuant to Sections 2.3, 3.2, 3.4 or 4.1 shall
forthwith be canceled by the Agent. All Warrants canceled or required to be
canceled under this or any other provision of this Agreement may be destroyed by
or under the direction of the Agent and the Agent shall furnish the Company with
a destruction certificate identifying the Warrants so destroyed and the
principal amount of [Notes/Debentures] which could have been purchased pursuant
to each.

          SECTION 4.6. Accounting and Recording. The Agent shall forthwith
account and remit to the Company with respect to Warrants exercised and
immediately forward to the Company (or into an account or accounts of the
Company with the bank or trust company designated by the Company for that
purpose) all monies received by the Agent on the purchase of [Notes/Debentures]
through the exercise of Warrants. All such monies, and any [Notes/Debentures] or
other instruments, from time to time received by the Agent shall be

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<PAGE>

received in trust for, and shall be segregated and kept apart by the Agent in
trust for, the Company.

          The Agent shall record the particulars of the Warrants exercised which
shall include the names and addresses of the persons who become Registered
Owners of [Notes/Debentures] on exercise, the Exercise Date, the Exercise Price
and the number of [Notes/Debentures] reserved for that purpose by the Company.
The Agent shall provide such particulars in writing to the Company.

                                    ARTICLE V
                                    COVENANTS

          SECTION 5.1. Issuance of [Notes/Debentures]. The Company covenants
that so long as any Warrants remain Outstanding it will cause the
[Notes/Debentures] from time to time paid for pursuant to the Warrants in the
manner herein provided to be duly issued and delivered in accordance with the
Warrants and the terms hereof.

          SECTION 5.2. Corporate Existence of the Company; Consolidation,
Merger, Sale or Transfer. The Company covenants that so long as any of the
Warrants are Outstanding, it will maintain its existence, will not dissolve,
sell or otherwise dispose of all or substantially all of its assets and will not
consolidate with or merge into another entity or permit one or more other
entities to consolidate with or merge into it; provided that the Company may,
without violating the covenants in this Section 5.2 contained, consolidate with
or merge into another entity or permit one or more other entities to consolidate
with or merge into it, or sell or otherwise transfer to another entity all or
substantially all of its assets as an entirety and thereafter dissolve, if the
surviving , resulting or transferee entity, as the case may be, (i) shall be
formed and existing under the laws of one of the States of the United States of
America, (ii) assumes, if such entity is not the Company, all of the obligations
of the Company hereunder and (iii) is not, after such transaction, otherwise in
default under any provisions hereof.

          SECTION 5.3. Maintenance of Offices or Agencies for Transfer,
Registration, Exchange of Warrants. So long as any of the Warrants shall remain
Outstanding, the Company covenants that it will maintain an office or agency in
_________, where the Warrants may be presented for registration, exchange and
transfer as in this Agreement provided, and where notices and demands to or upon
the Company in respect of the Warrants or of this Agreement may be served, and
where the Warrants may be presented for exchange for [Notes/Debentures] as
provided herein.

          SECTION 5.4. Appointment to Fill a Vacancy in the Office of Agent. The
Company, whenever necessary to void or fill a vacancy in the office of Agent,
covenants that it will appoint, in the manner provided in Section 9.4 hereof, an
Agent, so that there shall at all times be a Agent with respect to the
Outstanding Warrants.

                                       13
<PAGE>

                                   ARTICLE VI
                           EVENTS OF DEFAULT; REMEDIES

          SECTION 6.1. Events of Default. The term "Event of Default" whenever
used herein with respect to any Warrant shall mean any one of the following
events:

          (a) Failure by the Company to deliver the [Notes/Debentures] in
     exchange for the Warrants in accordance with the provisions of this
     Agreement or

          (b) failure on the part of the Company to observe or perform in any
     material respect any of the covenants or agreements on its part in the
     Warrants or in this Agreement specifically contained for the benefit of
     the Warrantholders, for a period of 90 days after there has been given, by
     registered or certified mail, to the Company by the Agent, or to the
     Company and the Agent by the Registered Owners of not less than 25% in
     principal amount of the Warrants at the time Outstanding under this
     Agreement a written notice specifying such failure and stating that such is
     a "Notice of Default" hereunder.

          SECTION 6.2. Suits by Warrantholders. All or any of the rights
conferred upon the Registered Owner of any Warrant by the terms of such Warrant
and/or this Agreement may be enforced by the Registered Owner of such Warrants
by appropriate legal proceedings but without prejudice to the right which is
hereby conferred upon the Agent to proceed in its own name to enforce each and
all of the provisions herein contained for the benefit of the Registered Owners
of the Warrants from time to time Outstanding.

          SECTION 6.3. Remedies Not Waived; Enforcement Expense. No delay or
failure on the part of the Registered Owners of Warrants or the Agent to
exercise any right shall operate as a waiver of such right or otherwise
prejudice such Registered Owner's or Agent's, as the case may be, rights, powers
and remedies. The Company agrees to pay all costs, expenses and fees, including
all reasonable attorneys' fees, which may be incurred by a Registered Owner in
enforcing or attempting to enforce its rights thereunder and hereunder following
the occurrence and during the continuance of any Event of Default hereunder,
whether the same shall be enforced by suit or otherwise.

          SECTION 6.4. Incorporators, Stockholders, Officers and Directors of
Company are Exempt from Individual Liability. No recourse under or upon any
obligation, covenant or agreement of this Agreement, or of any Warrant, or for
any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, stockholder, officer or director, as such, past, present or
future, of the Company, either directly or though the Company, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise; it being expressly understood that this
Agreement and the Warrants issued hereunder are solely corporate obligations,
and that no personal liability whatever shall attach to, or is or shall be
incurred by, the incorporators, stockholders, officers or directors, as such, of
the Company because of the creation of the indebtedness hereby authorized, or
under or by reason of the obligations, covenants or agreements contained in this
Agreement or in any of the Warrants or implied therefrom; and that any and all
such personal liability of every name and nature, either at common law or in
equity or by constitution or statute, of, and any and all such rights and

                                       14
<PAGE>

claims against, every such incorporator, stockholder, officer or director, as
such, because of the creation of the obligations hereby authorized, or under or
by reason of the obligations, covenants or agreements contained in this
Agreement or in any of the Warrants or implied therefrom are hereby expressly
waived and released as a condition of, and as a consideration for, the execution
of this Agreement and the issuance of such Warrants.

                                  ARTICLE VII
                      AMENDMENTS; MEETING OF WARRANTHOLDERS

          SECTION 7.1. Amendments Without Consent of Registered Owners of
Warrants. This Agreement and the terms and conditions of the Warrants may be
amended by the Company and the Agent, without the consent of any Registered
Owner of Warrants for any of the following purposes:

          (a) to add to the covenants of the Company for the benefit of the
     Registered Owners of Warrants,

          (b) to surrender any right or power conferred upon the Company,

          (c) to cure any ambiguity or correcting or supplementing any provision
     contained herein or in the Warrants which may be defective or inconsistent
     with any other provisions contained herein or in the Warrants,

          (d) if deemed appropriate by the Company or required by law, to
     evidence the permitted succession of another corporation to the Company and
     the assumption by such successor of the covenants and obligations of the
     Company herein and in the Warrants or

          (e) to make such other provisions in regard to matters or questions
     arising under this Agreement or the Warrants which shall not adversely
     affect the interests of the Registered Owners of the Warrants in any
     material respect.

          SECTION 7.2. Amendments with Consent of Registered Owners of Warrants.
This Agreement, the terms and conditions of the Warrants and the covenants
contained in either may also be modified or amended by the Company and the Agent
and past defaults thereunder or future compliance therewith by the Company may
be waived either with the written consent of the Registered Owners of not less
than a majority in aggregate principal amount of the [Notes/Debentures] at the
time outstanding, or by the adoption, at a meeting duly convened and held in
accordance with the provisions of Section 8.04 at which the Registered Owners of
at least 25% of the aggregate principal amount of the [Notes/Debentures] at the
time outstanding are present or represented, of a resolution by the Registered
Owners of not less than 75% in aggregate principal amount of the Outstanding
Warrants present or represented at the meeting; provided that no such
modification, amendment or waiver may, without the consent or affirmative vote
of the Registered Owner of each Warrant affected thereby:

          (a) Waive a default in the failure to deliver [Notes/Debentures] in
     exchange for Warrants pursuant to Section 4.1 hereof or change the Exercise
     Dates or the Expiry Date with respect to any Warrant, or change the coin or
     currency in which any Warrant is

                                       15
<PAGE>

     exercisable for [Notes/Debentures] or impair the right to institute suit
     for the enforcement of any rights of any Registered Owner of a Warrant or

          (b) Reduce the percentage in principal amount of the Outstanding
     Warrants, the consent of which Registered Owners is required for any
     modification or amendment to this Agreement or to the terms and conditions
     of or covenants contained in this Agreement or in the Warrants or for any
     waiver of compliance therewith or

          (c) modify any of the provisions of this Section 7.2 except to provide
     that certain other provisions of this Agreement or the terms and conditions
     of the Warrants cannot be modified, amended or waived without the consent
     of the Registered Owner of each Outstanding Warrant affected thereby.

It shall not be necessary for the Registered Owners of Warrants to approve the
particular form of any proposed amendment, but it shall be sufficient if they
approve the substance thereof.

          SECTION 7.3. Binding Nature of Amendments; Notice. Any modifications,
amendments or waivers to this Agreement or to the terms and conditions of the
Warrants in accordance with the provisions hereof will be conclusive and binding
on all Registered Owners of Warrants, whether or not they have given such
consent, whether or not notation of such modifications, amendments or waivers is
made upon the Warrants, and on all future Registered Owners of Warrants.

          Promptly after the execution of any amendment to this Agreement or the
implementation of any modification or amendment of the terms and conditions of
the Warrants, notice of such amendment or modification shall be given by the
Company or by the Agent, on behalf of and at the instruction of the Company, to
the Registered Owners by mail at such owner's address as it appears on the
Register. The failure to give such notice on a timely basis shall not invalidate
such amendment or modification, but such notice shall be given as soon as
practicable upon discovering such failure or upon any impediment to the giving
of such notice being overcome.

                                  ARTICLE VIII
                                    MEETINGS

          SECTION 8.1. Meetings of Registered Owners of Warrants. A meeting of
Registered Owners of Warrants may be called at any time and from time to time to
make, give or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Agreement or the Warrants to be
made, given or taken by Registered Owners of Warrants.

          The Agent may at any time call a meeting of Registered Owners of
Warrants for any purpose specified herein to be held at such time and at such
place in ______ or __________ as the Agent shall determine. Notice of every
meeting of Registered Owners of Warrants, setting forth the time and the place
of such meeting and in general terms the action proposed to be taken at such
meeting, shall be given, by mail to each registered Owner at its address as it
appears on the Register, not less than 21 nor more than [45] days prior to the
date fixed for the meeting. In

                                       16
<PAGE>

case at any time the Company or the Registered Owners of at least 25% in
aggregate principal amount of the Outstanding Warrants shall have requested the
Agent to call a meeting of the Registered Owners of Warrants for any purpose, by
written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Agent shall not have mailed notice of such meeting
within 14 days after receipt of such request or shall not thereafter proceed to
cause the meeting to be held as provided herein, then the Company or the
Registered Owners of Warrants in the amount previously specified, as the case
may be, may determine the time and the place in _______ or for such meeting and
may call such meeting for such purposes by giving notice thereof as provided
herein.

          To be entitled to vote at any meeting of Registered Owners of
Warrants, a Person shall be a registered Owner of Outstanding Warrants. The
Persons entitled to vote a majority in aggregate principal amount of the
Outstanding Warrants shall constitute a quorum. In the absence of a quorum
within 30 minutes of the time appointed for any such meeting, the meeting shall,
if convened at the request of the Registered Owners of Warrants, be dissolved.
In any other case the meeting may be adjourned for a period of not less than 5
days as determined by the chairman of the meeting prior to the adjournment of
such meeting. In the absence of a quorum at any such adjourned meeting, such
adjourned meeting may be further adjourned for a period of not less than 5 days
as determined by the chairman of the meeting prior to the adjournment of such
adjourned meeting. Notice of the reconvening of any adjourned meeting shall be
given as provided in this Section 8.1 with respect to an original meeting,
except that such notice need be given only once not less than 3 days prior to
the date on which the meeting is scheduled to be reconvened. Notice of the
reconvening of an adjourned meeting shall state expressly the percentage of the
principal amount of the Outstanding Warrants which shall constitute a quorum.

          Subject to the foregoing, at the reconvening of any meeting adjourned
for a lack of a quorum the persons entitled to vote 25% in aggregate principal
amount of the Outstanding Warrants shall constitute a quorum for the taking of
any action set forth in the notice of the original meeting. Any meeting of
Registered Owners of Warrants at which a quorum is present may be adjourned from
time to time by a vote as hereinafter provided in this Section 8.1, and the
meeting may be held as so adjourned without further notice. At a meeting or an
adjourned meeting duly reconvened and at which a quorum is present as aforesaid,
any resolution and all matters shall be effectively passed or decided if passed
or decided by persons entitled to vote the lesser of (a) a majority in aggregate
principal amount of Outstanding Warrants or (b) 75% in aggregate principal
amount of Outstanding Warrants represented and voting at such meeting.

          The Agent may make such reasonable regulations as it may deem
advisable for any meeting of Registered Owners of Warrants in regard to proof of
the holding of Warrants and such other matters concerning the conduct of the
meeting as it shall deem appropriate. The Agent shall, by an instrument in
writing, appoint a temporary chairman of the meeting, unless the meeting shall
have been called by the Company or Registered Owners of Warrants as provided
herein, in which case the Company or the Registered Owners calling the meeting,
as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and permanent secretary of the meeting shall be elected by
note of the persons entitled to vote a majority in aggregate principal amount of
the Outstanding Warrants represented at the meeting. The chairman of the meeting
shall have no right to vote, except as a Holder of Warrants.

                                       17
<PAGE>

          SECTION 8.2. Record of Meetings. A record, at least in triplicate, of
the proceedings of each meeting of Registered Owners of Warrants shall be
prepared, and one such copy shall be delivered to the Company and the Agent. The
copy delivered to the Agent shall be preserved by the Agent and, upon reasonable
notice, made available to any Registered Owners of Outstanding Warrants.

                                   ARTICLE IX
                              CONCERNING THE AGENT

          SECTION 9.1. Appointment of Agent. The Company hereby appoints, at
present having its principal office in [__________ at _____________, ________,
__________] as the Agent in respect of the Warrants, upon the terms and subject
to the conditions set forth in this Agreement.

          SECTION 9.2. Acceptance of Appointment By Agent; Limitations of Duties
of Agent. The Agent accepts its obligations set forth herein and in the Warrants
upon the terms and conditions hereof and thereof, including the following, to
all of which the Company agrees and to all of which the rights hereunder of the
Registered Owners from time to time of the Warrants shall be subject:

          (a) The Agent shall be entitled to the compensation agreed upon with
     the Company for all services rendered by it, and the Company agrees
     promptly to pay such compensation and to reimburse the Agent for its
     reasonable out-of-pocket expenses (including, without limitation, the
     reasonable compensation of its counsel) incurred by it in connection with
     the services rendered by it hereunder. The Company also agrees to indemnify
     the Agent for, and to hold it harmless against, any loss, liability or
     expense incurred without negligence or bad faith on its part, arising out
     of or in connection with its acting as such Agent hereunder, including the
     costs and expenses of defending against any claim of liability.

          (b) In acting under this Agreement and in connection with the
     Warrants, the Agent is acting solely as the agent of the Company and does
     not assume any obligations or relationship of agency or trust for or with
     any of the Registered Owners of the Warrants.

          (c) The Agent may consult with one or more counsel (who may also be
     counsel to the Company), and, in the absence of bad faith, the written
     opinion of such counsel shall be full and complete authorization and
     protection in respect of any action taken, omitted or suffered by it
     hereunder in the good faith reliance thereon.

          (d) The Agent shall be protected and shall incur no liability for or
     in respect of any action taken, omitted or suffered by it in the good faith
     reliance upon any Warrant, notice, direction, consent, certificate,
     affidavit, statement or other paper or document signed by the Company
     reasonably believed by the Agent to be genuine and to have been signed by
     the proper persons.

                                       18
<PAGE>

          (e) The Agent and its officers, directors and employees may become the
     owner of, or acquire any interest in, any Warrants, with the same rights
     that it or they would have if it were not the Agent hereunder, may engage
     or be interested in any financial or other transaction with the Company and
     may act on, or as depository, trustee or agent for, any committee or body
     of Registered Owners of the Warrants or holders of other obligations of the
     Company as freely as if it were not the Agent hereunder.

          (f) The recitals contained herein and in the Warrants (except in the
     Agent's certificates of authentication) shall be taken as the statements of
     the Company, and the Agent assumes no responsibility for their correctness.
     The Agent makes no representation as to the validity or sufficiency of this
     Agreement or the Warrants, provided that the Agent shall not be relieved of
     its duty to authenticate Warrants as authorized by this Agreement. The
     Agent shall not be accountable for the use or application by the Company of
     the proceeds of the Warrants.

          (g) The Agent shall be obligated to perform such duties and only such
     duties as are herein and in the Warrants specifically set forth and no
     implied duties or obligations shall be read into this Agreement or the
     Warrants against the Agent.

          (h) No provision of this Agreement shall be construed to relieve the
     Agent from liability for its own negligent action, its own negligent
     failure to act, or its own willful misconduct or that of its officers or
     employees.

          (i) The Agent shall be under no liability for interest on any money
     received by it hereunder except as otherwise agreed with the Company.

          SECTION 9.3. Agent Required. The Company agrees that, until all
Warrants (i) shall have been delivered to the Agent for cancellation or (ii)
have become null and void because of the passage of the Expiry Date, there shall
at all times be a Agent hereunder which shall be a corporation doing business in
the United States and which alone or with its affiliates has a combined capital
and surplus of at least $[___,000,000].

          SECTION 9.4. Resignation and Removal of Agent; Appointment of
Successor. The Agent may at any time resign by giving written notice (in
accordance with Section 10.1 hereof) to the Company of such intention on its
part, specifying the date on which its desired resignation shall become
effective; provided, however, that such date shall never be less than [90] days
after the receipt of such notice by the Company unless the Company agrees to
accept less notice. Upon receipt of such notice of resignation, the Company
shall promptly act to appoint a successor Agent. The Agent may be removed at any
time by the Company by delivering written notice thereof specifying such removal
and the date when it is intended to become effective. Any resignation or removal
of the Agent shall take effect upon the date of the appointment by the Company
as hereinafter provided of a successor and the acceptance of such appointment by
such successor.

          In case at any time the Agent shall resign, or shall be removed, or
shall become incapable of acting or shall be adjudged as bankrupt or insolvent,
or if a receiver of its or of its property shall be appointed, or if any public
officer shall take charge or control of its or of its

                                       19
<PAGE>

property or affairs, for the purpose of rehabilitation, conservation or
liquidation, a successor agent, eligible as aforesaid, shall be appointed by the
Company.

          Upon the appointment as aforesaid of a successor agent and acceptance
by it of such appointment, the Agent so superseded shall cease to be the Agent
hereunder. If no successor Agent shall have been so appointed by the Company and
shall have accepted appointment as hereinafter provided, then the Registered
Owners of a majority in aggregate principal amount of the Outstanding Warrants,
on such Holders' behalf and on behalf of all others similarly situated may
petition any court of competent jurisdiction for the appointment of a successor
Agent.

          Any successor Agent appointed hereunder shall execute, acknowledge and
deliver to its predecessor and to the Company an instrument accepting such
appointment hereunder, and thereupon such successor Agent, without any further
act deed or conveyance, shall become vested with all the authority, rights,
powers, immunities, duties and obligations of such predecessor with like effect
as if originally named as such Agent hereunder, and such predecessor, upon
payment of its charges and disbursements then unpaid, shall simultaneously
therewith become obligated to transfer, deliver and pay over, and such successor
Agent shall be entitled to receive, all moneys, [Notes/Debentures] or other
property on deposit with or held by such predecessor, as such Agent hereunder.
The Company or, at the discretion of the Company, the successor Agent, will give
prompt written notice by U.S. Mail to each Registered Owner of the Warrants at
such owner's address as it appears on the Register of the appointment of a
successor Agent. Failure to give such notice or any defect therein shall not
affect the appoint of a successor Agent.

          SECTION 9.5. Merger, Conversion, Consolidation or Succession to
Business of Agent. Any corporation into which the Agent may be merged or
converted, or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Agent shall be a
party, or any corporation succeeding to all or substantially all the assets and
business of the Agent, shall be the successor to the Agent hereunder, provided
such corporation shall be otherwise eligible under this Article VII, without the
execution or filing of any document or any further act on the part of any of the
parties hereto.

          In case any Warrants shall have been authenticated, but not delivered,
by the Agent then in office, any successor by merger, conversion or
consolidation to such authenticating Agent may adopt such authentication and
deliver the Warrants so authenticated with the same effect as if such successor
Agent had itself authenticated such Warrants.

                                   ARTICLE X
                                  MISCELLANEOUS

          SECTION 10.1. Notices. All notices or demands hereunder upon the
Company or the Agent may be electronically communicated or hand delivered or
sent by overnight courier, addressed to any party hereto as provided in this
Section 10.1.

                  All communications intended for the Company shall be sent to:

                                       20
<PAGE>

                           Viacom Inc.
                           1515 Broadway
                           New York, NY 10036
                           Attention:
                           Fax Number:  (212) ___________

                  All communications intended for the Agent shall be sent to:

                           Agent-Name
                           Attention:
                           Fax Number:

or at any other address of which either of the foregoing shall have notified the
other in any manner prescribed in this Section 10.01.

          For all purposes of this Agreement,  a notice or communication will be
deemed effective:

          (a) if delivered by hand or sent by overnight courier, on the day it
     is delivered unless (i) that day is not a day on which commercial banks are
     open for business (a "Local Business Day") in the city specified in the
     address for notice provided by the recipient or (ii) if delivered after the
     close of business on a Local Business Day, then on the next succeeding
     Local Business Day or

          (b) if sent by facsimile transmission, on the date transmitted,
     provided that oral or written confirmation of receipt is obtained by the
     sender unless the date of transmission and confirmation is not a Local
     Business Day, in which case, on the next succeeding Local Business Day.

Any notice, direction, request, demand, consent or waiver by the Company or any
Registered Owner to or upon the Agent shall be deemed to have been sufficiently
given, made or filed, for all purposes, if given, made or filed in writing with
the Agent in accordance with the provisions of this Section 10.1.

          SECTION 10.2. Day Not a Business Day. If any date on which a payment
is to be made, notice given or other action taken hereunder is not a Business
Day, then such payments, notice or other action shall be made, given or taken on
the next succeeding business day in such place, and in the case of any payment,
no interest shall accrue for the delay.

          SECTION 10.3. Currency. All amounts herein are expressed in [United
States Dollars/Specified Currency].

          SECTION 10.4. Governing Law. This Agreement and the Warrants shall be
construed in accordance with the laws of New York, without regard to principles
of conflicts of law.

                                       21
<PAGE>

          SECTION 10.5. Limitation of Rights to Parties and Registered Owners of
Warrants. Nothing in this Agreement or in the Warrants expressed or implied is
intended or shall be construed to give to any Person other than the Company, the
Agent and the Registered Owners of the Warrants any legal or equitable right,
remedy or claim under or in respect of this Agreement or any covenant, condition
or provision herein or in the Warrants. All such covenants, conditions and
provisions are and shall be held to be for the sole and exclusive benefit of the
Company, the Agent and the Registered Owners of the Warrants.

          SECTION 10.6. Separability of Invalid Provisions. In case any one or
more of the provisions contained in this Agreement or in the Warrants shall for
any reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision
of this Agreement, but this Agreement shall be construed as if such invalid or
illegal or unenforceable provision had never been contained herein.

          SECTION 10.7. No Waiver of Rights. A failure or delay in exercising
any right, power or privilege in respect of this Warrant Agreement will not be
presumed to operate as a waiver, and a single or partial exercise of any right,
power or privilege will not be presumed to preclude any subsequent or further
exercise of that right, power or privilege or the exercise of any other right,
power or privilege.

          SECTION 10.8. Execution in Several Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall for all purposes be
deemed to be an original; but such counterparts shall together constitute but
one and the same instrument.

          SECTION 10.9. Article and Section Headings. The headings or titles of
the several Articles and Sections hereof and any table of contents appended to
copies hereof shall be solely for convenience of reference and shall not affect
the meaning, construction or effect of this Agreement.

          SECTION 10.10. Successor and Assigns. All the covenants and agreements
in this Agreement contained by or on behalf of the Company or the Agent shall
bind their respective successors and assigns, whether so expressed or not.

                                       22
<PAGE>

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

                                            VIACOM INC.

                                             By_________________________________

                                             AGENT NAME, as Agent

                                             By_________________________________Exhibit 4.12

                                                                         FORM OF
                                                STANDARD STOCK WARRANT AGREEMENT

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

                                   VIACOM INC.

                        STANDARD PREFERRED STOCK WARRANT

                              AGREEMENT PROVISIONS

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

<PAGE>

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>

                                                                                                             Page
                                                                                                             ----
<S>                                                                                                         <C>
                                   Article 1
                                   ---------

            Issuance, Execution and Delivery of Warrant Certificates
            --------------------------------------------------------

         Section 1.1 Issuance of Warrant Certificates.............................................................1

         Section 1.2 Execution and Delivery of Warrant Certificates...............................................2

         Section 1.3 Registration and Countersignature............................................................3

                                    Article 2
                                    ---------

            Warrant Price, Duration and Exercise of Warrant Certificates
            ------------------------------------------------------------

         Section 2.1 Warrant Price................................................................................4

         Section 2.2 Duration of Warrant Certificates.............................................................4

         Section 2.3 Exercise of Warrant Certificates.............................................................5

                                    Article 3
                                    ---------

            Other Provisions Relating to Rights of Holders of Warrant Certificates
            ----------------------------------------------------------------------

         Section 3.1 No Rights as Securityholders Conferred by Warrant Certificates...............................7

         Section 3.2 Lost, Stolen, Mutilated or Destroyed Warrant Certificates....................................7

         Section 3.3 Holder of Warrant Certificate May Enforce Rights.............................................8

         Section 3.4 Call of Warrants by the Company..............................................................8

         Section 3.5 Optional Reduction of Warrant Price..........................................................9

         Section 3.6 Reservation of Shares........................................................................9

         Section 3.7 Obtaining of Governmental Approvals and Stock Exchange Listings.............................10

         Section 3.8 Adjustment of Exercise Price and Number of Shares Purchasable or
                       Number of Warrants........................................................................11

         Section 3.9 Fractional Warrants and Fractional Shares...................................................16

         Section 3.10 Notices to Warrantholders..................................................................17

                                              i

<PAGE>

                                    Article 4
                                    ---------

                 Exchange and Transfer of Warrant Certificates
                  ---------------------------------------------

         Section 4.1 Exchange and Transfer.......................................................................19

         Section 4.2 Treatment of Holders of Warrant Certificates................................................21

         Section 4.3 Cancellation of Warrant Certificates........................................................21

                                    Article 5
                                    ---------

                          Concerning the Warrant Agent
                          ----------------------------

         Section 5.1 Warrant Agent...............................................................................21

         Section 5.2 Conditions of Warrant Agent's Obligations...................................................22

         Section 5.3 Registration and Appointment of Successor Warrant Agent.....................................25

                                    Article 6
                                    ---------

                                  Miscellaneous
                                  -------------

         Section 6.1 Supplements and Amendments..................................................................28

         Section 6.2 Notices and Demands to the Company and Warrant Agent........................................28

         Section 6.3 Addresses...................................................................................28

         Section 6.4 Delivery of Prospectus......................................................................29

         Section 6.5 Obtaining of Governmental Approvals.........................................................29

         Section 6.6 Persons Having Rights under Warrant Agreement...............................................29

         Section 6.7 Headings....................................................................................30

         Section 6.8 Counterparts................................................................................30

         Section 6.9 Inspection of Agreement.....................................................................30

         Section 6.10 Governing Law..............................................................................30

         Section 6.11 Successors.................................................................................30

         Section 6.12 Termination................................................................................30

                                             ii
</TABLE>

<PAGE>

                  From time to time, Viacom Inc., a Delaware corporation (the
"Company"), may enter into one or more warrant agreements that provide for the
issuance and sale of warrants ("Warrants") to purchase shares of the Company's
Preferred Stock, $0.01 par value ("Shares"). The standard provisions set forth
herein may be included or incorporated by reference in any such warrant
agreement (a "Warrant Agreement"). The Warrant Agreement, including the
provisions incorporated therein by reference, is herein referred to as this
"Agreement." The person named as the "Warrant Agent" in the first paragraph of
the Warrant Agreement is herein referred to as the "Warrant Agent." Unless
otherwise defined in this Agreement or in the Warrant Agreement, as the case may
be, terms defined in the Warrant Agreement are used herein as therein defined
and terms defined herein are used in the Warrant Agreement as herein defined.

                                   ARTICLE 1

            ISSUANCE, EXECUTION AND DELIVERY OF WARRANT CERTIFICATES

                  Section 1.1 Issuance of Warrant Certificates. Each Warrant
Certificate shall evidence one or more Warrants. Each Warrant evidenced thereby
shall represent the right, subject to the provisions contained herein and
therein, to purchase such numbers of Shares as are set forth in the Warrant
Agreement. The number of Warrants which may be issued and delivered under this
Agreement is unlimited.

                  There shall be established in or pursuant to a resolution of
the Board of Directors of the Company or any duly authorized committee thereof
or established in one or more warrant agreements supplemental hereto, prior to
the issuance of any Warrants: the designation of such Warrants; if the Warrants
are issued together as a unit with any other securities of the Company, the date
after which the Warrants shall be freely tradable separately from such other
securities

<PAGE>

(the "Distribution Date"); if the Company may at its option or under
circumstances described therein provide for an earlier Distribution Date; the
expiration date, pursuant to Section 2.2; the exercise price and any form of
consideration other than lawful money of the United States of America by which
the exercise price may be paid pursuant to Section 2.1; the Call Price, Call
Date and Call Terms pursuant to Section 3.4; the limitations, if any, upon the
Reduced Warrant Price and the Reduced Warrant Price Period, pursuant to Section
3.5; the circumstances, if any, under which the Exercise Price and the number of
Shares purchasable upon the exercise of each Warrant and the number of Warrants
outstanding are subject to adjustment and the manner of making any such
adjustment.

                  Section 1.2 Execution and Delivery of Warrant Certificates.
Each Warrant Certificate, whenever issued, shall be in registered form
substantially in such form or forms as shall be established by the Company from
time to time pursuant to one or more resolutions of the Board of Directors of
the Company or in one or more warrant agreements supplemental hereto, and in
each case shall be dated as of the date of issuance thereof, and may have such
letters, numbers or other marks of identification or designation and such
legends or endorsements printed, lithographed or engraved thereon as the
officers of the Company executing the Warrant Certificate may approve (execution
thereof to be conclusive evidence of such approval) and as are not inconsistent
with the provisions of this Agreement, or as may be required to comply with (i)
any law or with any rule or regulation made pursuant thereto or (ii) any rule or
regulation of any stock exchange on which the Warrant Certificates may be
listed, or to conform to usage. The Warrant Certificates shall be signed on
behalf of the Company by its Chairman of the Board of Directors, its Chief
Operating Officer, its President, its Chief Financial Officer, a Vice President
or its Treasurer and attested by its Secretary or Assistant Secretary. Such

                                       2

<PAGE>

signatures may be manual or facsimile signatures of such authorized officers and
may be imprinted or otherwise reproduced on the Warrant Certificates.

                  No Warrant Certificate shall be valid for any purpose, and no
Warrant evidenced thereby shall be exercisable, until such Warrant Certificate
has been countersigned by the manual signature of the Warrant Agent. Such
signature by the Warrant Agent upon any Warrant Certificate executed by the
Company shall be conclusive evidence that the Warrant Certificate so
countersigned has been duly delivered hereunder.

                  If any officer of the Company who shall have signed any of the
Warrant Certificates either manually or by facsimile signature shall cease to be
such officer before the Warrant Certificates so signed shall have been
countersigned and delivered to the Warrant Agent, such Warrant Certificates
nevertheless may be countersigned and delivered as though the person who signed
such Warrant Certificates had not ceased to be such officer of the Company. Any
Warrant Certificate may be signed on behalf of the Company by such persons as,
at the actual date of the execution of such Warrant Certificate, shall be the
proper officers of the Company, although at the date of the execution of this
Agreement any such persons was not an officer.

                  Section 1.3 Registration and Countersignature. The Warrant
Agent shall, upon receipt of Warrant Certificates, duly executed on behalf of
the Company, countersign the Warrant Certificates evidencing Warrants to
purchase the number of Shares set forth in the Warrant Agreement and shall
deliver such Warrant Certificates to the appropriate person or

                                       3

<PAGE>

entity upon the order of the Company. After the original issuance of the Warrant
Certificates, the Warrant Agent shall countersign a Warrant Certificate only if
the Warrant Certificate is issued in exchange or substitution for, or in
connection with the registration of transfer of, one or more previously
countersigned Warrant Certificates, as hereinafter provided. The Warrant
Certificates shall not be valid for any purpose unless so countersigned.

                  The Warrant Agent's countersignature on all Warrants shall be
in substantially the following form:

                  [NAME OF WARRANT AGENT],
                           as Warrant Agent

                  By_________________________________
                           Authorized Signatory

                                   ARTICLE 2

          WARRANT PRICE, DURATION AND EXERCISE OF WARRANT CERTIFICATES

                  Section 2.1 Warrant Price. The exercise price of each Warrant
and any other form of consideration other than lawful money of the United States
of America by which the exercise price may be paid shall be as set forth in the
Warrant Agreement. The purchase price (including moneys and such other
consideration) of the Shares upon exercise of the Warrants is referred to in
this Agreement as the "Warrant Price" and is payable in full at the time of
exercise.

                  Section 2.2 Duration of Warrant Certificates. Warrant
Certificates may be exercised in whole at any time, and in part from time to
time, during the period set forth in the Warrant Agent (the "Expiration Date").
Each Warrant Certificate not exercised on or before the

                                       4
<PAGE>

close of business on the Expiration Date shall become void, and all rights of
the holder thereunder and under this Agreement shall cease.

Section 2.3  Exercise of Warrant Certificates.

                  (a) Prior to the Expiration Date, a Warrant Certificate, if
countersigned by the Warrant Agent, may be exercised in whole or in part by
providing certain information set forth on the reverse side of the Warrant
Certificate and, unless otherwise provided pursuant to Section 2.1, by paying in
full (in cash or by certified or official bank check in New York Clearing House
funds or by bank wire transfer in immediately available funds), in United States
dollars, the Warrant Price for the Shares as to which the Warrant Certificate is
exercised, to the Warrant Agent at its corporate trust office at the address set
forth in the Warrant Agreement. The payment must specify the name of the holder
and the number of Warrants exercised by such holder. Warrants will be deemed to
have been exercised upon receipt by the Warrant Agent of the Warrant Price and
the Warrant Certificate properly completed and duly executed by the registered
holder or holders thereof or by the duly appointed legal representative thereof
or by a duly authorized attorney, such signature to be guaranteed (under the
Medallion Program) by a bank or trust company, by a broker or dealer which is a
member of the National Association of Securities Dealers, Inc. ("NASD") or by a
member of a national securities exchange. If the Warrant Agent receives moneys
in payment of the Warrant Price, the Warrant Agent shall deposit all funds
received by it in the account of the Company maintained with it for such
purpose. If the Warrant Agent receives consideration other than moneys for
Warrants, the Warrant Agent shall deliver such consideration directly to the
Company. In either case, the Warrant Agent shall advise the Company by telex or
telecopy at the end of each day as to the Warrant Certificates

                                       5
<PAGE>

that have been exercised and the amount of moneys deposited to its account or
the type and amount of other consideration to be delivered to it.

                  (b) The Warrant Agent shall, from time to time, as promptly as
practicable, advise the Company of (i) the number of Warrants exercised, (ii)
the instructions of each holder of the Warrant Certificates evidencing such
Warrants with respect to delivery of the Shares to which such holder is entitled
upon such exercise, (iii) delivery of Warrant Certificates evidencing the
balance, if any, of the Warrants remaining after such exercise and (iv) such
other information as the Company shall reasonably require.

                  (c) As soon as practicable after receipt of payment of the
Warrant Price and the Warrant Certificate properly completed and duly executed
at the corporate trust office of the Warrant Agent, the Company shall issue or
deliver, upon the order of the holder of such Warrant Certificate, the Shares in
authorized denominations to which such holder is entitled, in fully registered
form in such name or names as maybe directed by such holder, and if such Warrant
Certificate was not exercised in full, upon request of the holder a new Warrant
Certificate evidencing the number of Warrants remaining unexercised shall be
issued if sufficient time remains prior to the Expiration Date.

(d) The Company will pay all documentary stamp taxes attributable to the initial
issuance of Warrants and of Shares upon the exercise of Warrants; provided,
however, that the Company shall not be required to pay any tax or taxes which
may be payable in respect of any transfer involved in the issue of any Warrant
Certificates or any certificates for Shares in a name other than the registered
holder of a Warrant Certificate surrendered upon the exercise of a Warrant, and
the Company shall not be required to issue or deliver such certificates unless
or

                                       6
<PAGE>

until the person or persons requesting the issuance thereof shall have paid to
the Company the amount of such tax or shall have established to the
satisfaction of the Company that such tax has been paid.

                                   ARTICLE 3

                     OTHER PROVISIONS RELATING TO RIGHTS OF
                         HOLDERS OF WARRANT CERTIFICATES

                  Section 3.1 No Rights as Securityholders Conferred by Warrant
Certificates. No Warrant Certificate shall entitle the holder thereof to any of
the rights of a stockholder of the Company, including the right to receive the
payment of dividends on or vote the Shares.

                  Section 3.2 Lost, Stolen, Mutilated or Destroyed Warrant
Certificates. Upon receipt by the Company and the Warrant Agent of evidence
reasonably satisfactory to them of the ownership and the loss, theft,
destruction or mutilation of the Warrant Certificate, and of such security or
indemnity as may be required by them to save each of them harmless, and, in the
case of mutilation, upon surrender thereof to the Warrant Agent for
cancellation, then, in the absence of notice to the Company or the Warrant Agent
that such Warrant Certificate has been acquired by a bona fide purchaser, the
Company shall execute, and an authorized officer of the Warrant Agent shall
manually countersign and deliver, in exchange for or in lieu of the lost, stolen
or destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the
same tenor and for a like number of Warrants. Upon the issuance of any new
Warrant Certificate under this Section, the Company may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed
in relation thereto and any other expense (including the fees and expenses of
the Warrant Agent) in connection therewith. Every substitute Warrant Certificate
executed and

                                       7
<PAGE>

delivered pursuant to this Section in lieu of any lost, stolen or destroyed
Warrant Certificate shall constitute an additional contractual obligation of the
Company, whether or not the lost, stolen or destroyed Warrant Certificate shall
be at any time enforceable by anyone, and shall be entitled to the benefits of
this Agreement equally and proportionately with any and all other Warrant
Certificates duly executed and delivered hereunder. The provisions of this
Section are exclusive and shall preclude (to the extent lawful) any and all
other rights or remedies with respect to the replacement of mutilated, lost,
stolen or destroyed Warrant Certificates.

                  Section 3.3 Holder of Warrant Certificate May Enforce Rights.
Notwithstanding any of the provisions of this Agreement, any holder of any
Warrant Certificate, without the consent of the Warrant Agent, the holder of any
Shares or the holder of any other Warrant Certificate, may, in his or her own
behalf and for his or her own benefit, enforce, and may institute and maintain
any action or proceeding against the Company to enforce or otherwise in respect
of, his or her right to exercise his or her Warrant Certificate in the manner
provided in his or her Warrant Certificate and in his or her Agreement.

                  Section 3.4 Call of Warrants by the Company. If so provided in
the Warrant Agreement, the Company shall have the right to call and repurchase
any or all Warrants at the price (the "Call Price") and on or after the date
(the "Call Date") and upon the terms (the "Call Terms") as shall be established
from time to time in or pursuant to the Warrant Agreement before the issuance of
such Warrants, or to resolutions of the Board of Directors of the Company.
Notice of such Call Price, Call Date and Call Terms shall be given to registered
holders of Warrants in writing by the Company or the Warrant Agent.

                                       8
<PAGE>

                  Section 3.5 Optional Reduction of Warrant Price. Subject to
the limits, if any, established from time to time by the Board of Directors of
the Company or in the Warrant Agreement, the Company shall have the right, at
any time or from time to time, voluntarily to reduce the then current Warrant
Price to such amount (the "Reduced Warrant Price") and for such period or
periods of time, which may be through the close of business on the Expiration
Date (the "Reduced Warrant Price Period"), as may be deemed appropriate by the
Board of Directors of the Company. Notice of any such Reduced Warrant Price and
Reduced Warrant Price Period shall be given to registered holders of Warrants in
writing by the Company or the Warrant Agent. After the termination of the
Reduced Warrant Price Period, the Warrant Price shall be such Warrant Price that
would have been in effect had there been no reduction in the Warrant Price
pursuant to the provisions of this Section 3.5.

               Section 3.6 Reservation of Shares. For the purpose of enabling it
to satisfy any obligation to issue Shares upon exercise of Warrants, the Company
will at all times through the close of business on the Expiration Date,  reserve
and  keep  available,  free  from  preemptive  rights  and out of its  aggregate
authorized  but unissued or treasury  shares of Preferred  Stock,  the number of
Shares  deliverable  upon the  exercise  of all  outstanding  Warrants,  and the
transfer agent for the shares is hereby  irrevocably  authorized and directed at
all times to reserve such number of authorized  and unissued or treasury  shares
of Preferred Stock as shall be required for such purpose.  The Company will keep
a copy of this  Agreement  on file  with  such  transfer  agent  and with  every
transfer  agent for any shares of the Company's  capital stock issuable upon the
exercise of Warrants.  The Warrant  Agent is hereby  irrevocably  authorized  to
requisition  from time to time  from  such  transfer  agent  stock  certificates
issuable upon exercise of outstanding

                                       9
<PAGE>

Warrants, and the Company will supply such transfer agent with duly executed
stock certificates for such purpose.

                  Before taking any action that would cause an adjustment
pursuant to Section 3.7 reducing the Exercise Price below the then par value (if
any) of the Shares issuable upon exercise of the Warrants, the Company will take
any corporate action that may, in the opinion of its counsel, be necessary in
order that the Company may validly and legally issue fully paid and
nonassessable Shares at the Exercise Price as so adjusted.

                  The Company covenants that all Shares issued upon exercise of
the Warrants will, upon issuance in accordance with the terms of this Agreement,
be fully paid and nonassessable and free from all taxes, liens, charges and
security interests created by or imposed upon the Company with respect to the
issuance and holding thereof.

                  Section 3.7 Obtaining of Governmental Approvals and Stock
Exchange Listings. So long as any Warrants remain outstanding, the Company will
take all necessary steps (a) to obtain and keep effective any and all permits,
consents and approvals of governmental agencies and authorities and to make
filings under federal and state securities acts and laws, which may be or become
requisite in connection with the issuance, sale, transfer and delivery of the
Warrant Certificates, the exercise of the Warrants and the issuance, sale,
transfer and delivery of the Shares issued upon exercise of Warrants, and (b) to
have the shares of Stock immediately upon their issuance upon exercise of
Warrants, (i) listed on each national securities exchange on which the Preferred
Stock is then listed or (ii) if the Preferred Stock is not then listed on any
national securities exchange, listed for quotation on the NASD Automated
Quotations System ("Nasdaq")

                                       10
<PAGE>

National Market ("Nasdaq National Market") or such other over-the-counter
quotation system on which the Stock may then be listed.

                  Section 3.8 Adjustment of Exercise Price and Number of Shares
Purchasable or Number of Warrants. The Exercise Price, the number of Shares
purchasable upon the exercise of each Warrant and the number of Warrants
outstanding are subject to adjustment from time to time upon the occurrence of
the events enumerated in this Section 3.8.

                  (a) If the Company shall (i) pay a dividend on its capital
stock (including Preferred Stock in shares of Stock, (ii) subdivide its
outstanding shares of Preferred Stock (iii) combine its outstanding shares of
Preferred Stock into smaller number of shares of Preferred Stock or (iv) issue
any shares of its capital stock in a reclassification of the Preferred Stock
(including any such reclassification in connection with a consolidation or
merger in which the Company is the continuing corporation), the number of Shares
purchasable upon exercise of each Warrant immediately prior thereto shall be
adjusted so that the holder of each Warrant shall be entitled to receive the
kind and number of Shares or other securities of the Company which such holder
would have owned or have been entitled to receive after the happening of any of
the events described above, had such Warrant been exercised immediately prior to
the happening of such event or any record date with respect thereto. An
adjustment made pursuant to this paragraph (a) shall become effective
immediately after the effective date of such event retroactive to the record
date, if any, for such event.

                  (b) In the event of any capital reorganization or any
reclassification of the Preferred Stock (except as provided in paragraph (a)
above or paragraph (h) below), any holder of Warrants upon exercise thereof
shall be entitled to receive, in lieu of the Preferred Stock to

                                       11
<PAGE>

which he or she would have become entitled upon exercise immediately prior to
such reorganization or reclassification, the shares (of any class or classes) or
other securities or property of the Company that he or she would have been
entitled to receive at the same aggregate Exercise Price upon such
reorganization or reclassification if his or her Warrants had been exercised
immediately prior thereto; and in any such case, appropriate provision (as
determined in good faith by the Board of Directors of the Company, whose
determination shall be conclusive and shall be evidenced by a resolution filed
with the Warrant Agent) shall be made for the application of this Section 3.8
with respect to the rights and interests thereafter of the holders of Warrants
(including the allocation of the adjusted Warrant Price between or among shares
of classes of capital stock), to the end that this Section 3.8 (including the
adjustments of the number of shares of Preferred Stock or other securities
purchasable and the Warrant Price thereof) shall thereafter be reflected, as
nearly as reasonably practicable, in all subsequent exercises of the Warrants
for any shares or securities or other property thereafter deliverable upon the
exercise of the Warrants.

                  (c) Except for adjustments required by paragraph (h) hereof,
no adjustment in the number of Shares purchasable hereunder shall be required
unless such adjustment would require an increase or decrease of at least one
percent (1%)in the number of Shares purchasable upon the exercise of each
Warrant; provided, however, that any adjustments which by reason of this
paragraph (c) are not required to be made shall be carried forward and taken
into account in any subsequent adjustment. All calculations shall be made to the
nearest cent and to the nearest one- hundredth of a Share, as the case may be.

                  (d) Whenever the number of Shares purchasable upon the
exercise of each Warrant is adjusted as herein provided (whether or not the
Company then or thereafter elects to

                                       12
<PAGE>

issue additional Warrants in substitution for an adjustment in the number of
Shares as provided in paragraph (f), the Exercise Price payable upon exercise of
each Warrant shall be adjusted by multiplying such Exercise Price immediately
prior to such adjustment by a fraction, of which the numerator shall be the
number of Shares purchasable upon the exercise of each Warrant immediately prior
to such adjustment, and of which the denominator shall be the number of Shares
so purchasable immediately thereafter.

                  (e) For the purpose of this Section 3.8, the term "shares of
Stock" shall mean (i) the class of stock designated as the Preferred Stock of
the Company at the date of this Agreement, or (ii) any other class of stock
resulting from successive changes or reclassification of such shares consisting
solely of changes in par value, of from par value to no par value, or from no
par value to par value. If at any time, as a result of an adjustment made
pursuant to paragraph (a) or (b) above, the holders of Warrants shall become
entitled to purchase any shares of the Company other than shares of Stock,
thereafter the number of such other shares so purchasable upon exercise of each
Warrant and the Exercise Price of such shares shall be subject to adjustment
from time to time in a manner and on terms as nearly equivalent as practicable
to the provisions with respect to the Shares contained in paragraphs (a) through
(d), inclusive, above, and the provisions of Section 2.1, 2.2, 2.3, 3.6, 3.7(a)
and 3.10, with respect to the Shares, shall apply on like terms to any such
other shares.

                  (f) The Company may elect, on or after the date of any
adjustment required by paragraphs (a) through (b) of this Section 3.8, to adjust
the number of Warrants in substitution for an adjustment in the number of Shares
purchasable upon the exercise of a Warrant. Each of the Warrants outstanding
after such adjustment of the number of Warrants shall be exercisable for the
same number of shares as immediately prior to such adjustment. Each Warrant held
of

                                       13
<PAGE>

record prior to such adjustment of the number of Warrants shall become that
number of Warrants (calculated to the nearest hundredth) obtained by dividing
the Warrant Price in effect prior to adjustment of the Warrant Price by the
Warrant Price in effect after adjustment of the Warrant Price. The Company shall
notify the holders of Warrants in the same manner as provided in the first
paragraph of Section 3.10, of its election to adjust the number of Warrants,
indicating the record date for the adjustment, and, if known at the time, the
amount of the adjustment to be made. This record date may be the date on which
the Exercise Price is adjusted or any day thereafter. Upon each adjustment of
the number of Warrants pursuant to this paragraph (f) the Company shall, as
promptly as practicable, cause to be distributed to holders of record of
Warrants on such record date Warrant Certificates evidencing, subject to Section
3.9, the additional Warrants to which such holders shall be entitled as a result
of such adjustment, or, at the option of the Company, shall cause to be
distributed to such holders of record in substitution and replacement for the
Warrant Certificates held by such holders prior to the date of adjustment, and
upon surrender thereof, if required by the Company, new Warrant Certificates
evidencing all the Warrants to be issued, executed and registered in the manner
specified in Section 1.3 and Article 4 (and which may bear, at the option of the
Company, the adjusted Exercise Price) and shall be registered in the names of
the holders of record of Warrant Certificates on the record date specified in
the notice.

                  (g) Except as provided in paragraph (a) of this Section 3.8,
no adjustment in respect of any dividends shall be made during the term of a
Warrant or upon the exercise of a Warrant.

                  (h) In case of any consolidation of the Company with or merger
of the Company into another corporation or in case of any sale or conveyance to
another corporation of

                                       14
<PAGE>

                  the property of the Company as an entirety or substantially as
an entirety, the Company or such successor or purchasing corporation, as the
case may be, shall execute with the Warrant Agent an agreement that each holder
of a Warrant shall have the right thereafter upon payment of the Warrant Price
in effect immediately prior to such action to purchase upon exercise of each
Warrant the kind and amount of shares and other securities and property which he
or she would have owned or have been entitled to receive after the happening of
such consolidation, merger, sale or conveyance had such Warrant been exercised
immediately prior to such action. The Company shall mail by first class mail,
postage prepaid, to each holder of a Warrant, notice of the execution of any
such agreement. Such agreement shall provide for adjustments, which shall be as
nearly equivalent as may be practicable to the adjustments provided for in this
Section 3.8. The provisions of this paragraph (h) shall similarly apply to
successive consolidations, mergers, sales or conveyances. The Warrant Agent
shall be under no duty or responsibility to determine the correctness or any
provisions contained in any such agreement relating either to the kind or amount
of shares of stock or other securities or property receivable upon exercise of
Warrants or with respect to the method employed and provided therein for any
adjustments and shall be entitled to rely upon the provisions contained in any
such agreement.

                  (i) Irrespective of any adjustments in the Exercise Price or
the number or kind of shares purchasable upon the exercise of the Warrants,
Warrants theretofore or thereafter issued may continue to express the same price
and number and kind of shares as are stated in the Warrants initially issuable
pursuant to this Agreement.

                                       15
<PAGE>

                  Section 3.9  Fractional Warrants and Fractional Shares.

                  (a) The Company shall not be required to issue fractions of
Warrants on any distribution of Warrants to holders of Warrant Certificates or
to distribute Warrant Certificates that evidence fractional Warrants. In lieu of
such fractional Warrants, there shall be paid to the registered holder of the
Warrant Certificates with regard to which such fractional Warrants would
otherwise be issuable, an amount in cash equal to the same fraction of the
current market value of a full Warrant. For purposes of this Section 3.9, the
current market value of a Warrant shall be the closing price of one Warrant (as
determined pursuant to paragraph (c) below) for the trading day immediately
prior to the date on which such fractional Warrant would have been otherwise
issuable.

                  (b) Notwithstanding any adjustment pursuant to this Section
3.9 in the number of Shares purchasable upon the exercise of a Warrant, the
Company shall not be required to issue fractions of Shares upon exercise of the
Warrants or to distribute certificates which evidence fractional Shares. In lieu
of fractional Shares, there shall be paid to the registered holders of Warrant
Certificates at the time such Warrant Certificates are exercised as herein
provided an amount in cash equal to the same fraction of the current market
value of a share of Preferred Stock. For purposes of this Section 3.9, the
current market value of a share of Preferred Stock shall be the closing price of
a share of Preferred Stock (as determined pursuant to paragraph (c) below) for
the trading day immediately prior to the date of such exercise.

                  (c) The closing price for each day shall be the last sale
price, regular way, or, if no such sale takes place on such day, the average of
the closing bid and asked prices, regular way, for such day, in either case as
reported in the principal consolidated transaction reporting

                                       16
<PAGE>

system with respect to securities listed or admitted to trading on the New York
Stock Exchange or, if the Warrants or Stock, as the case may be, is not listed
or admitted to trading on such exchange, as reported on the principal
consolidated transaction reporting system with respect to securities listed on
the principal national securities exchange on which the Warrants or Preferred
Stock, respectively, is listed or admitted to trading, or if the Warrants or
Preferred Stock, as the case may be, is not listed or admitted to trading on any
national securities exchange, as reported on Nasdaq National Market or, if the
Warrants or Stock, as the case may be, is not listed or admitted to trading on
the Nasdaq National Market, as reported on Nasdaq.

                  Section 3.10 Notices to Warrantholders. Upon any adjustment of
the number of Shares purchasable upon exercise of each Warrant, the Warrant
Price or the number of Warrants outstanding, the Company within 20 calendar days
thereafter shall (i) cause to be filed with the Warrant Agent a certificate of a
firm of independent public accountants of recognized standing selected by the
Company (who may be the regular auditors of the Company) setting forth the
Warrant Price and either the number of Shares purchasable upon exercise of each
Warrant or the additional number of Warrants to be issued for each previously
outstanding Warrant, as the case may be, after such adjustment and setting forth
in reasonable detail the method of calculation and the facts upon which such
adjustment was made, which certificate shall be conclusive evidence of the
correctness of the matters set forth therein, and (ii) cause to be given to each
of the registered holders of the Warrant Certificates at such holder's address
appearing on the Warrant Register written notice of such adjustments by first
class mail, postage prepaid. Where appropriate, such notice may be given in
advance and included as part of the notice required to be mailed under the other
provisions of this Section 3.10.

                                       17
<PAGE>

                  The Company shall cause written notice of any later
Distribution Date, any later Expiration Date, any Call Price, Call Date and
Call Terms and any Reduced Exercise Price and Reduced Exercise Price Period, as
the case may be, to be given as soon as practicable to the Warrant Agent and to
each of the registered holders of the Warrant Certificates by first class mail,
postage prepaid, at such holder's address appearing on the Warrant Register. In
addition to the written notice referred to in the preceding sentence, the
Company shall make a public announcement in a daily morning newspaper of general
circulation in New York City of such earlier Distribution Date, such later
Expiration Date, such Call Price, Call Date and Call Terms and such Reduced
Exercise Price and Reduced Exercise Price Period, as the case may be, at least
once prior to the implementation of such terms.

                  If:

                  (a) the Company shall declare any dividend payable in any
            securities upon its shares of Preferred Stock or make any
            distribution (other than a cash dividend) to the holders of is
            shares of Preferred Stock, or

                  (b) the Company shall offer to the holders of its shares of
            Preferred Stock any additional shares of Preferred Stock or
            securities convertible into shares of Preferred Stock or any right
            to subscribe thereto, or

                  (c) there shall be a dissolution, liquidation or winding up of
            the Company (other than in connection with a consolidation, merger
            or sale of all or substantially all of its property, assets and
            business as an entirety),

                                       18
<PAGE>

            the Company shall cause written notice of such event to be
            filed with the Warrant Agent and shall cause written notice of such
            event to be given to each of the registered holders of the Warrant
            Certificates as such holder's address appearing on the Warrant
            Register, by first class mail, postage prepaid, and make a
            public announcement in a daily newspaper of general circulation in
            New York City of such event, such giving of notice and publication
            to be completed at least 10 calendar days (or 20 calendar days in
            any case specified in clause (c) above) prior to the date fixed as a
            record date or the date of closing the transfer books for the
            determination of the stockholders entitled to such dividend,
            distribution or subscription rights, or for the determination of
            stockholders entitled to vote on such proposed dissolution,
            liquidation or winding up. Such notice shall specify such record
            date or the date of closing the transfer books, as the case may be.
            The failure to give the notice required by this Section 3.10 or any
            defect therein shall not affect the legality or validity of any
            distribution, right, warrant, dissolution, liquidation or winding up
            or the vote upon or any other action taken in connection therewith.

                                   ARTICLE 4

                  EXCHANGE AND TRANSFER OF WARRANT CERTIFICATES

                  Section 4.1 Exchange and Transfer. Upon surrender at the
corporate trust office of the Warrant Agent, Warrant Certificates evidencing
Warrants may be exchanged for Warrant Certificates in other denominations
evidencing such Warrants and the transfer of Warrants may be registered in whole
or in part; provided that such other Warrant Certificates shall evidence the
same aggregate number of Warrants as the Warrant Certificates surrendered for
exchange or

                                       19
<PAGE>

registration of transfer. The Warrant Agent shall keep, at its corporate trust
office, books in which it shall register Warrant Certificates and exchanges and
transfers of outstanding Warrant Certificates, upon surrender of the Warrant
Certificates to the Warrant Agent at its corporate trust office for exchange or
registration of transfer, properly completed and duly endorsed and duly signed
by the registered holder or holders thereof or by the duly appointed legal
representative thereof or by a duly authorized attorney, such signature to be
guaranteed (under the Medallion Program) by (a) a bank or trust company, (b) a
broker or dealer that is a member of the Nasdaq or (c) a member of a national
securities exchange and accompanied by appropriate instruments of registration
of transfer and written instructions for transfer, all in form satisfactory to
the Company and the Warrant Agent. No service charge shall be made for any
exchange or registration of transfer of Warrant Certificates, but the Company
may require payment of a sum sufficient to cover any stamp or other tax or other
governmental charge that may be imposed in connection with any such exchange or
registration of transfer. Whenever any Warrant Certificates are surrendered for
exchange or registration of transfer, an authorized officer of the Warrant Agent
shall mutually countersign and deliver to the person or persons entitled thereto
a Warrant Certificate or Warrant Certificate duly authorized and executed by the
Company, as so requested. The Warrant Agent shall not be required to effect any
exchange or registration of transfer that will result in the issuance of a
Warrant Certificate evidencing a fraction of a Warrant or a number of full
Warrants and a fraction of a Warrant. All Warrant Certificates issued upon any
exchange or registration of transfer of Warrant Certificates shall be the valid
obligations of the Company, evidencing the same obligations and entitled to the
same benefits under this Agreement as the Warrant Certificates surrendered for
such exchange or registration of transfer.

                                       20
<PAGE>

                  Section 4.2 Treatment of Holders of Warrant Certificates.
Every holder of a Warrant Certificate, by accepting the same, consents and
agrees with the Company, the Warrant Agent and with every subsequent holder of
such Warrant Certificate that, until the transfer of the Warrant Certificate is
registered on the books of the Warrant Agent, the Company and the Warrant Agent
may treat the registered holder as the absolute owner thereof for any purpose
and as the person entitled to exercise the rights represented by the Warrants
evidenced thereby, any notice to the contrary notwithstanding.

                  Section 4.3 Cancellation of Warrant Certificates. Any Warrant
Certificate surrendered for exercise, registration of transfer or exchange
shall, if surrendered to the Company, be delivered to the Warrant Agent, and all
Warrant Certificates surrendered or so delivered to the Warrant Agent shall be
promptly canceled by the Warrant Agent and shall not be reissued and, except as
expressly permitted by this Agreement, no Warrant Certificate shall be issued
hereunder in lieu thereof. The Warrant Agent shall deliver to the Company from
time to time, or otherwise dispose of, canceled Warrant Certificates in manner
satisfactory to the Company.

                                   ARTICLE 5

                          CONCERNING THE WARRANT AGENT

                  Section 5.1 Warrant Agent. The Company hereby appoints the
Warrant Agent as the Warrant Agent of the Company in respect of the Warrant
Certificates upon the terms and subject to the conditions herein set forth, and
the Warrant Agent hereby accepts such appointment. The Warrant Agent shall have
the powers and authority granted to and conferred upon it in the Warrant
Certificates and by this Agreement, and such further powers and authority

                                       21
<PAGE>

to act on behalf of the Company as the Company may hereafter grant to or confer
upon it. All of the terms and provisions with respect to such powers and
authority contained in the Warrant Certificates are subject to and governed by
the terms and provisions hereof.

                  Section 5.2 Conditions of Warrant Agent's Obligations. The
Warrant Agent accepts its obligations herein set forth upon the terms and
conditions hereof, including the following (to all of which the Company agrees
and to all of which the rights hereunder of the holders from time to time of the
Warrant Certificates shall be subject):

                  (a) Performance by the Company. The Company agrees that it
            will take any corporate action that may be reasonably necessary in
            order to fulfill its obligations under this Agreement, and the
            Warrant Certificates, and that it will not take any action that
            would materially impair its ability to perform its obligations under
            this Agreement and the Warrant Certificates.

                  (b) Compensation and Indemnification. The Company agrees
            promptly to pay the Warrant Agent the compensation to be agreed upon
            with the Company for all services rendered by the Warrant Agent and
            to reimburse the Warrant Agent for reasonable out-of-pocket expenses
            (including reasonable counsel fees) incurred by the Warrant Agent in
            connection with the services rendered hereunder by the Warrant
            Agent. The Company also agrees to indemnify the Warrant Agent, and
            to hold it harmless against, any loss, liability or expense incurred
            without negligence or bad faith on the part of the Warrant Agent,
            arising out of or in connection with its acting as the Warrant Agent
            hereunder, as well as the reasonable costs and expenses of defending
            against any claim of liability in the premises.

                                       22
<PAGE>

                  (c) Agent for the Company. In acting under this Warrant
            Agreement and in connection with the Warrant Certificates, the
            Warrant Agent is acting solely as an agent of the Company, and the
            Warrant Agent does not assume any obligation or relationship of
            agency or trust for or with any of the owners or holders of the
            Warrant Certificates.

                  (d) Counsel. The Warrant Agent may consult with counsel
            satisfactory to it, and the opinion of such counsel shall be full
            and complete authorization and protection in respect of any action
            taken, suffered or omitted by it hereunder in good faith and in
            accordance with the opinion of such counsel.

                  (e) Documents. The Warrant Agent shall be protected and shall
            incur no liability for or in respect of any action taken or thing
            suffered by it in reliance upon any Warrant Certificate, notice,
            direction, consent, certificate, affidavit, statement or other paper
            or document reasonably believed by it to be genuine and to have been
            presented or signed by the proper parties.

                  (f) Certain Transactions. The Warrant Agent and its officers,
            directors and employees may buy, sell or deal in any of the Shares
            or other securities of the Company and may become the owner of, or
            acquire any interest in, any Warrant Certificates, with the same
            rights that it or they would have if it were not the Warrant Agent
            hereunder, and, to the extent permitted by applicable law, they may
            engage or be interested in any financial or other transaction with
            the Company and may act on, or as depositary, trustee or agent for,
            any committee or body of holders of the Shares or other obligations
            of the Company as freely as if it were not the Warrant Agent.

                                       23
<PAGE>

                  (g) No Liability for Interest. Except as set forth in the
            Warrant Agreement, the Warrant Agent shall not be under any
            liability for interest on any moneys or other consideration at any
            time received by it pursuant to any of the provisions of this
            Agreement or of the Warrant Certificates.

                  (h) No Liability for Invalidity. The Warrant Agent shall not
            incur any liability with respect to the validity of this Agreement
            or any of the Warrant Certificates.

                  (i) No Responsibility for Representations. The Warrant Agent
            shall not be responsible for any of the recitals or representations
            contained herein or in the Warrant Certificates (except the Warrant
            Agent shall be responsible for any representations of the Warrant
            Agent herein and for its countersignature on the Warrant
            Certificates), all of which are made solely by the Company.

                  (j) No Implied Obligations. The Warrant Agent shall be
            obligated to perform such duties as are herein and in the Warrant
            Certificates specifically set forth, but no implied duties or
            obligations shall be read into this Agreement or the Warrant
            Certificates against the Warrant Agent. The Warrant Agent shall not
            be under any obligation to take any action hereunder which may tend
            to involve it in any expense or liability, the payment of which
            within a reasonable time is not, in its reasonable opinion, assured
            to it. The Warrant Agent shall not be accountable or under any duty
            or responsibility for the use by the Company of any of the Warrant
            Certificates authenticated by the Warrant Agent and delivered by it
            to the Company pursuant to this Agreement or for the application or
            by the Company of the proceeds of the Warrant Certificates. The
            Warrant Agent shall have not duty or responsibility in case of any
            default by the Company in the

                                       24
<PAGE>

            performance of its covenants or agreements contained in the Warrant
            Certificates or in the case of the receipt of any written demand
            from a holder or a Warrant Certificate with respect to such default,
            including any duty or responsibility to initiate or attempt to
            initiate any proceedings at law or otherwise or to make any demands
            upon the Company.

                  (k) Instructions. The Warrant Agent is hereby authorized and
            directed to accept instructions with respect to the performance of
            its duties hereunder from the Chairman of the Board, the Chief
            Executive Officer, the President, any Vice President, the Treasurer,
            the Secretary or any Assistant Secretary of the Company, and to
            apply to such officers for advice or instructions in connection with
            its duties, and shall not be liable for any action taken or suffered
            to be taken by it in good faith in accordance with instructions of
            any such officer or in good faith reliance upon any statement signed
            by any one of such officer of the Company with respect to any fact
            or matter (unless other evidence in respect thereof is herein
            specifically prescribed) which may be deemed to be conclusively
            proved and established by such signed statement.

                  Section 5.3 Registration and Appointment of Successor Warrant
Agent.

                  (a) The Company agrees, for the benefit of the holders from
time to time of the Warrant Certificates, that at all times there shall be a
Warrant Agent hereunder until all the Warrant Certificates are no longer
exercisable.

                  (b) The Warrant Agent may at any time resign as such agent by
giving written notice to the Company of such intention on its part, specifying
the date on which its desired resignation shall become effective; provided that
such date shall not be less than 60 days after the date on which such notice is
given unless the Company agrees to accept less notice. The

                                       25
<PAGE>

Warrant Agent may be removed at any time by the filing with it of an instrument
in writing signed by or on behalf of the Company and specifying such removal and
the date when it shall become effective. Such resignation or removal shall take
effect upon the appointment by the Company, as hereinafter provided, of a
successor Warrant Agent (which shall be a bank or trust company organized and
doing business under the laws of the United States of America or of any State,
in good standing, and authorized under such laws to exercise corporate trust
powers) and the acceptance of such appointment by such successor Warrant Agent.
Upon its resignation or removal, the Warrant Agent shall be entitled to the
payment by the Company of the compensation agreed to under Section 5.2(b) hereof
for, and to the reimbursement of all reasonable out-of-pocket expenses incurred
in connection with, the services rendered hereunder by the Warrant Agent.

                  (c) If at any time the Warrant Agent shall resign, or shall be
removed, or shall become incapable of acting, or shall be adjudged bankrupt or
insolvent, or shall file a petition seeking relief under the Federal Bankruptcy
Code, as now constituted or hereafter amended, or under any other applicable
federal or state bankruptcy law or similar law or make an assignment for the
benefit of its creditors or consent to the appointment of a receiver or
custodian of all or any substantial part of its property, or shall admit in
writing its inability to pay or meet its debts as they mature, or if a receiver
or custodian of it or of all or any substantial part of its property shall be
appointed, or if an order of any court shall be entered for relief against it
under the Federal Bankruptcy Code, as now constituted or hereafter amended, or
under any other applicable federal or state bankruptcy or similar law or if any
public officer shall have taken charge or control of the Warrant Agent or of its
property or affairs, for the purpose of rehabilitation, conservation or
liquidation, a successor Warrant Agent, qualified in accordance

                                       26
<PAGE>

with the terms of this Agreement, shall be appointed by the Company by an
instrument in writing, filed with the successor Warrant Agent. Upon the
appointment of a successor Warrant Agent and acceptance by the latter of such
appointment, the Warrant Agent so superseded shall cease to be the Warrant Agent
hereunder.

                  (d) Any successor Warrant Agent appointed hereunder shall
execute, acknowledge and deliver to its predecessor and to the Company an
instrument accepting such appointment hereunder, and thereupon such successor
Warrant Agent, without any further act, deed or conveyance, shall become vested
with all the authority, rights, powers, trusts, immunities, duties and
obligations of such predecessor with like effect as if originally named as
Warrant Agent hereunder, and such predecessor, upon payment of its charges and
disbursements then unpaid, shall thereupon become obligated to transfer, deliver
and pay over, and such successor Warrant Agent shall be entitled to receive, all
moneys, securities and other property on deposit with or held by such
predecessor, as Warrant Agent hereunder.

                  (e) Any corporation into which the Warrant Agent hereunder may
be merged or converted or any corporation with which the Warrant Agent may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Warrant Agent shall be a party, or any corporation to
which the Warrant agent shall sell or otherwise transfer all or substantially
all the assets and business of the Warrant Agent, provided that is shall be
qualified as aforesaid, shall be the successor Warrant Agent under this
Agreement without the execution or filing of any paper or any further act on the
part of the parties hereto.

                                       27
<PAGE>

                                   ARTICLE 6

                                  MISCELLANEOUS

                  Section 6.1 Supplements and Amendments. This Agreement may be
amended or supplemented from time to time by the parties hereto, without the
consent of the holder of any Warrant Certificate, for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision
contained herein, or in regard to matters or questions arising under this
Agreement as the Company and the Warrant Agent may deem necessary or desirable,
provided such action shall not adversely affect the interest of the holders of
the Warrant Certificates.

                  Section 6.2 Notices and Demands to the Company and Warrant
Agent. If the Warrant Agent shall receive any notice or demand addressed to the
Company by the holder of a Warrant Certificate pursuant to the provisions of the
Warrant Certificates, the Warrant Agent shall promptly forward such notice or
demand to the Company.

                  Section 6.3 Addresses. Any communication to the Warrant Agent
with respect to this Agreement shall be addressed to the address set forth in
the Warrant Agreement, and any such communication to the Company shall be
addressed to the Company at the following address:

                  Viacom Inc.
                  1515 Broadway
                  New York, New York 10036
                  Attention: [      ]

or such other address as shall be specified in writing by the Warrant Agent or
by the Company.

                                       28
<PAGE>

                  Section 6.4 Delivery of Prospectus. If the Company is required
under applicable federal or state securities laws to deliver a prospectus upon
exercise of Warrants, the Company will furnish to the Warrant Agent sufficient
copies of a prospectus, and the Warrant Agent agrees that upon the exercise of
any Warrant Certificate by the holder thereof, the Warrant Agent will deliver to
such holder, prior to or concurrently with the delivery of the Shares issued
upon such exercise, a copy of the prospectus.

                  Section 6.5 Obtaining of Governmental Approvals. The Company
will from time to time take all action that may be necessary to obtain and keep
effective any and all permits, consents and approvals of governmental agencies
and authorities and securities acts filings under federal and state laws, which
may be or become requisite in connection with the issuance, sale, transfer and
delivery of the Warrant Certificates, the exercise of the Warrants, and the
issuance, sale, transfer and delivery of the Shares issued upon exercise of the
Warrants or upon the expiration of the period during which the Warrants are
exercisable.

                  Section 6.6 Persons Having Rights under Warrant Agreement.
Nothing in this Agreement is intended, or shall be construed, to confer upon, or
give to, any person or corporation other than the Company, the Warrant Agent and
the holders of the Warrant Certificates, any right, remedy or claim under or by
reason of this Agreement or of any covenant, condition, stipulation, promise or
agreement hereof. All covenants, conditions, stipulations, promises and
agreements contained in this Agreement shall be for the sole and exclusive
benefit of the Company, the Warrant Agent and their successors and of the
holders of the Warrant Certificates.

                                       29
<PAGE>

                  Section 6.7 Headings. The descriptive headings of the several
Articles and Sections of this Agreement are inserted for convenience only and
shall not control or affect the meaning or construction of any of the provisions
hereof.

                  Section 6.8 Counterparts. This Agreement may be executed in
any number of counterparts, each of which shall be an original, but such
counterparts shall together constitute but one and the same instrument.

                  Section 6.9 Inspection of Agreement. A copy of this Agreement
shall be available at all reasonable times at the principal corporate trust
office of the Warrant Agent for inspection by the holder of any Warrant
Certificate. The Warrant Agent may require such holder to submit his Warrant
Certificate for inspection by it.

                  Section 6.10 Governing Law. This Agreement and each Warrant
Certificate issued hereunder shall be deemed to be a contract made under the
laws of the State of New York and for all purposes shall be construed in
accordance with the laws of such State.

                  Section 6.11 Successors. All the covenants and provisions of
this Agreement by or for the benefit of the Company or the Warrant Agent shall
bind and inure to the benefit of their respective successors and assigns
hereunder.

                  Section 6.12 Termination. This Agreement shall terminate at
the close of business on the Expiration Date. Notwithstanding the foregoing,
this Agreement will terminate on any earlier date when the Warrants have been
exercised.

                                       30

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