Document:

<PAGE>
                                                                  EXHIBIT 10.145

                               ASSIGNMENT/ PLEDGE
                              (SECURITY AGREEMENT)

KNOW ALL MEN BY THESE PRESENTS:

         THAT, CRESCENT OPERATING, INC., a Delaware corporation ( "Debtor") for
valuable and sufficient consideration paid, the receipt of which is hereby
acknowledged, hereby TRANSFERS, ASSIGNS and CONVEYS as collateral unto BANK OF
AMERICA, N.A. ("Secured Party"), and does hereby grant Secured Party a security
interest in and to the following described interest in, of and with respect to
limited liability company ("Debtor's Membership Interest"), together with all
rights, titles, equities and interests of Debtor thereunder, including, without
limitation, the right to withdraw capital and receive distributions, and all
money, income, proceeds, guarantees and benefits attributable or accruing to any
of the foregoing or to such membership interest, and all products and proceeds
of the foregoing and all general intangibles and contract rights related
thereto, including without limitation, all revenues, distributions, dividends,
property, contract rights and other rights and interests that Debtor is, or may
hereafter become, entitled to receive on account of any of the foregoing (all
sometimes herein called the"Membership Interest Collateral"), to-wit:

100% membership interest in and to, as the sole Member and Manager of, COPI Cold
Storage, LLC, a limited liability company organized under the laws of Delaware
(the "Limited Liability Company") evidenced by a Certificate of Formation dated
March 11, 1999, and by an Operating Agreement dated March 11, 1999 (the
"Operative Documents").

         Without limiting the foregoing, the Membership Interest Collateral
shall include all of Debtor's rights to return of capital and distributions of
profit, cash flow and other amounts pursuant to the above described Operative
Documents and incident to Debtor's Membership Interest.

         This Security Agreement is being executed and delivered in connection
with that certain promissory note (as it may be modified, renewed or extended,
referred to in this Security Agreement as the "Note") dated as of December 31,
2001, in the face principal amount of $15,000,000.00 executed by Debtor and
payable to the order of Secured Party and Debtor, and the "Loan Documents" (as
defined in the Note and herein so called). This Security Agreement is made to
secure the payment of all indebtedness and obligations of Debtor to Secured
Party evidenced by the Note and the Loan Documents, and the entire "Obligation"
as defined in the "Loan Agreement" (as defined in the Note, with express
reference to such Loan Agreement being made herein for the purposes contemplated
therein) (sometimes collectively referred to in this Security Agreement as the
"Secured Indebtedness"), and upon full payment of the Secured Indebtedness, this
assignment shall be null and void and the Membership Interest Collateral,
together with all liens securing the same, shall, at the expense of the Debtor,
be transferred, without warranty or recourse, to the Debtor by the Secured
Party. (It is expressly noted that the Note is sometimes referred to in the
other Loan Documents as the "Modification Note.")

         Debtor hereby represents and warrants unto Secured Party that Debtor is
the owner of the Membership Interest Collateral and the sole member and manager
of the Limited Liability Company, and that Debtor, acting without obtaining any
approvals or consents not already obtained or provided to Secured Party
simultaneously herewith or further action whatsoever, has the full and
unqualified right and authority to assign and pledge said Membership Interest
Collateral and grant Secured Party full authority and control over the
Membership Interest Collateral in the manner and for the purposes herein set
forth, subject to the qualifications set forth in this Security Agreement.

<PAGE>

         Further, as an inducement to the Secured Party to enter into the
modification and extension evidenced by the Note and as a part of the
consideration therefor, Debtor hereby covenants, warrants and represents unto
Secured Party that:

1. Except for the rights and interests of Crescent Real Estate Equities Limited
Partnership ("Subordination Party") which are subject to a Subordination
Agreement dated as of the effective date hereof executed by Subordination Party
in favor of Secured Party, Debtor has not executed any prior assignment, pledge
or hypothecation of any of the Membership Interest Collateral and that Debtor
holds full and complete rights granted to Debtor under the terms of the
Operative Documents, free and clear of the rights of any third person whosoever.

2. Debtor shall faithfully and fully and in all respects and things do or cause
to be done all acts and things necessary and proper to satisfy all of the terms,
covenants and conditions contained in the Operative Documents at Debtor's cost,
risk and expense. IT IS EXPRESSLY UNDERSTOOD, STIPULATED AND AGREED THAT SECURED
PARTY DOES NOT IN ANY WAY ASSUME ANY OF DEBTOR'S OBLIGATIONS UNDER THE OPERATIVE
DOCUMENTS, AND NOTHING HEREIN CONTAINED SHALL BE CONSTRUED AS IMPRESSING UPON
SECURED PARTY ANY BURDEN, OBLIGATION, LIABILITY OR RESPONSIBILITY OF ANY NATURE
WHATSOEVER UNDER OR ARISING OUT OF ANY OF THE MEMBERSHIP INTEREST COLLATERAL.
WITHOUT LIMITING THE FOREGOING, IT IS UNDERSTOOD, STIPULATED AND AGREED THAT
NEITHER SECURED PARTY NOR ANY SUCCESSOR OR TRANSFEREE OF SECURED PARTY SHALL BE
DEEMED A MEMBER OR MANAGER OF THE LIMITED LIABILITY COMPANY UNLESS AND UNTIL THE
SECURITY EVIDENCED HEREBY IS FORECLOSED OR OTHERWISE REALIZED AS SPECIFICALLY
APPROVED IN WRITING BY SECURED PARTY (OR ITS SUCCESSOR OR TRANSFEREE) AND
SECURED PARTY (OR ITS SUCCESSOR OR TRANSFEREE) HAS SPECIFICALLY ACCEPTED
ADMISSION OR SUBSTITUTION AS A MEMBER AND/ OR MANAGER IN WRITING.

3. No claims, offsets or counterclaims of any nature, at law or in equity,
against Debtor now exist as far as is known by Debtor which would give rise to
defenses against the completion of the covenants under any of the Operative
Documents or incident to the Membership Interest Collateral.

4. Debtor is sole member and manager of the Limited Liability Company. The
Operative Documents evidence the entire governing agreements of the Limited
Liability Company and, except for the First Amendment to Operating Agreement
dated March 7, 2002, a copy of which has been provided to Secured Party, have
not been amended, modified, superceded, replaced, restated, supplemented or
otherwise changed or affected. Debtor shall not, without the prior written
consent of Secured Party, amend, modify, supercede, replace, restate, supplement
or otherwise change or affect the Operative Documents, or cause the same to be
done, or otherwise affect or impair the rights and interests of Secured Party as
contemplated in this Security Agreement. Debtor has the requisite authority to
execute and deliver this Security Agreement, and, further, such execution and
delivery will not contravene or conflict with the Operative Documents, true and
correct copies of which have been provided to Secured Party, or any other
agreement or instrument to which Debtor may be bound, and, further, all
necessary determinations, if any, by any person or entity, and any other
required actions as set forth in the Operative Documents in order for this
Security Agreement and the Loan Documents to be effective have been made and no
approval of any third party is required in order to consummate the transactions
contemplated herein and therein, except for any consent in favor of Secured
Party delivered concurrently herewith.

         In the event of default in the payment of any sums, or in the
performance of any covenants, condition or term, payable or performable by any
party under the terms of the Operative Documents or incident to the

<PAGE>

Membership Interest Collateral or any instrument relating to the same then
Secured Party may elect, Debtor hereby expressly waiving notice, demand and
presentment, to declare the Note and any of the Secured Indebtedness immediately
due and payable in full.

         In the event of default in the payment of any installment, principal or
interest or otherwise, or in the performance of any covenant, condition or term
payable or performable under the terms of the Note or any of the Secured
Indebtedness, in accordance with the terms thereof, or in the event of default
in the performance of any covenant, condition or term hereof or any instrument
evidencing or securing the Note or any of the Secured Indebtedness, or if any
warranty, representation or statement herein or in any other document executed
by Debtor in connection with the borrowing contemplated thereunder proves to be
false in any material respect when made, or if any Default or Event of Default
shall occur under the terms of the Note or any of the Loan Documents, then
Secured Party may elect, Debtor hereby expressly waiving notice, demand and
presentment, to declare any and all of the Note and the Secured Indebtedness
immediately due and payable in full.

         In the event of default in the payment of any of the Secured
Indebtedness when due or declared due, or if any Default or Event of Default
shall occur under the terms of the Note or any of the Loan Documents, in
addition to any other remedies which Secured Party shall be entitled to under
the Note, any Loan Documents or under applicable laws or equity (all of which
shall be cumulative and not exclusive of one another), Secured Party shall have
the right, at its sole option, to sell the Membership Interest Collateral at its
option at either a Public Sale or a Private Sale. Should Secured Party elect to
sell the Membership Interest Collateral at a Public Sale, said Public Sale shall
be to the highest bidder for cash at the Courthouse door of Tarrant County,
Texas, after having given notice of the time, place and terms of such Public
Sale by posting a written or printed notice of said sale at the Courthouse door
of said County at least ten (10) days before the day of sale and after sending
reasonable notice to the Debtor and to such other person or persons legally
entitled thereto under the Uniform Commercial Code of Texas, of the time and
place of the Public Sale, and the Secured Party shall assign and transfer to the
Purchaser at such sale said Membership Interest Collateral, and the recitals in
such transfer shall be prima facie evidence of the truth of the matters therein
stated and all prerequisites to such sale required hereunder and under the laws
of this State shall be presumed to have been performed. The proceeds of the sale
shall be applied, first to the reasonable expenses of the sale, including
reasonable attorney's fees, and then toward the payment of accrued interest due
and unpaid upon the Secured Indebtedness, and lastly, to unpaid principal in the
direct order of maturity, rendering the balance, if any, to the person or
persons legally entitled thereto under the Uniform Commercial Code as adopted in
Texas, but if there by any deficiency, Debtor shall remain jointly and severally
liable therefor. Secured Party shall have the right to purchase at such Public
Sale, being the highest bidder therefor.

         This instrument shall constitute a Security Agreement under the Uniform
Commercial Code as adopted in Texas. Secured Party, in addition to the rights
and remedies provided for in the preceding paragraph, shall have all other
rights and remedies of a Secured Party under the Uniform Commercial Code as
adopted in Texas and the Secured Party shall be entitled to avail itself of all
such other rights and remedies as may now or hereafter exist at law or in equity
for the collection of the Note and the Secured Indebtedness and the foreclosure
of the security interest created hereby and the resort to any remedy provided
hereunder or provided by the Uniform Commercial Code as adopted in Texas, or by
any other law of Texas, shall not prevent the concurrent employment of any other
appropriate remedy or remedies.

<PAGE>

         The requirement of reasonable notice to Debtor of the time and place of
any Public Sale of the Membership Interest Collateral, or of the time after
which any Private Sale either by Secured Party, or at its option, through a
broker, or any other intended disposition thereof is to be made, shall be met if
such notice is mailed, postage prepaid, to Debtor at the address of Debtor
designated in the Note, at least ten (10) days before the date of any Public
Sale or at least ten (10) days before the time after which any Private Sale or
other disposition is to be made.

         Secured Party may remedy any default, without waiving same, or may
waive any default without waiving any prior or subsequent default. The security
interest herein created shall not be affected by or affect any other security
taken for the Secured Indebtedness, or any part thereof, and any renewals,
extensions or rearrangements may be made of any of the Secured Indebtedness
without affecting the priority of this security interest or the validity thereof
with reference to any third party, and the holder of the Secured Indebtedness
shall not be limited by any election of remedies if it chooses to foreclose this
security interest by suit. The right to sell under the terms hereof shall also
exist cumulative with said suit and one method shall not bar the other, but both
may be exercised at the same or different times, nor shall one by a defense to
the other.

         Secured Party shall have the power to endorse and is hereby appointed
Debtor's agent and attorney-in-fact for the purpose of doing any and every act
which Debtor is obligated to do by this instrument and to exercise all rights of
Debtor relating to the Membership Interest Collateral, including exercising,
signing, transferring or delivering in the name of Debtor any instruments or
documents which may be necessary to evidence, perfect or realize upon the
security interest or obligations created by this Security Agreement and to do
all other acts necessary to preserve and protect the Membership Interest
Collateral or to protect Secured Party's security interest in the Membership
Interest Collateral. Debtor authorizes Secured Party, at Secured Party's option,
to collect and receipt for any and all sums becoming due upon the Membership
Interest Collateral, such sums to be held by Secured Party without liability for
interest thereon and applied toward the payment of the Secured Indebtedness as
and when the same becomes payable, and Secured Party shall have the full control
of the Membership Interest Collateral until the Secured Indebtedness is fully
paid, but Secured Party is under no obligation to make or enforce the collection
of the Membership Interest Collateral and the failure of the Secured Party from
any cause to make or enforce the collection thereof shall not in anyway
prejudice the right of Secured Party to thereafter make or enforce collection
thereof or in anyway affect the Secured Indebtedness. Notwithstanding the
foregoing or anything else to the contrary contained in this Security Agreement
or the Loan Documents, prior to notice by Security Party to Debtor otherwise
after the occurrence of any Default or Event of Default under the terms of the
Note or any of the Loan Documents, Debtor shall retain all voting rights and
distributions with respect to the Membership Interest Collateral.

         Debtor agrees to pay in full all reasonable expenses, including
reasonable attorney's fees, of the Secured Party which have been or may be
incurred by the Secured Party in connection with the preparation of this
Security Agreement, the enforcement of any of Debtor's obligations hereunder and
under any document executed in connection with any grant or pledge of security
for the payment of any note or indebtedness contemplated hereunder, and the
recording and filing and re-recording and refiling of any such document.

<PAGE>

         The pronouns used herein shall be construed as masculine, feminine or
neuter as occasion may require. The terms "Secured Party" and "Debtor" as used
herein include, shall bind and shall inure to the benefit of the respective
heirs, executors or administrators, successors, representatives, receivers,
trustees, beneficiaries and assigns of such parties. If there be more than one
Debtor, their obligation shall be joint and several.

         The law governing this secured transaction shall be the Uniform
Commercial Code as adopted in Texas and other applicable laws of the State of
Texas. All terms used herein which are defined in the Uniform Commercial Code as
adopted in Texas shall have the same meaning herein as in said Code.

         ARBITRATION. ANY CONTROVERSY OR CLAIM BETWEEN OR AMONG THE PARTIES
HERETO, INCLUDING, BUT NOT LIMITED TO, THOSE ARISING OUT OF OR RELATING TO THIS
SECURITY AGREEMENT OR ANY RELATED AGREEMENTS OR INSTRUMENTS, INCLUDING ANY CLAIM
BASED ON OR ARISING FROM AN ALLEGED TORT, SHALL BE DETERMINED BY BINDING
ARBITRATION IN ACCORDANCE WITH THE FEDERAL ARBITRATION ACT (OR IF NOT
APPLICABLE, THE APPLICABLE STATE LAW), THE RULES OF PRACTICE AND PROCEDURE FOR
THE ARBITRATION OF COMMERCIAL DISPUTES OF JUDICIAL ARBITRATION AND MEDIATION
SERVICES, INC. (J.A.M.S.) AND THE "SPECIAL RULES" SET FORTH BELOW. IN THE EVENT
OF ANY INCONSISTENCY, THE SPECIAL RULES SHALL CONTROL. JUDGMENT UPON ANY
ARBITRATION AWARD MAYBE ENTERED IN ANY COURT HAVING JURISDICTION. ANY PART TO
THIS SECURITY AGREEMENT MAY BRING AN ACTION, INCLUDING A SUMMARY OR EXPEDITED
PROCEEDING, TO COMPEL ARBITRATION OF ANY CONTROVERSY OR CLAIM TO WHICH THIS
SECURITY AGREEMENT APPLIES IN ANY COURT HAVING JURISDICTION OVER SUCH ACTION.

A. SPECIAL RULES. THE ARBITRATION SHALL BE CONDUCTED IN THE CITY OF THE DEBTOR'S
DOMICILE AT THE TIME OF THIS SECURITY AGREEMENT'S EXECUTION AND ADMINISTERED BY
J.A.M.S. WHO WILL APPOINT AN ARBITRATOR; IF J.A.M.S. IS UNABLE OR LEGALLY
PRECLUDED FROM ADMINISTERING THE ARBITRATION, THEN THE AMERICAN ARBITRATION
ASSOCIATION WILL SERVE. ALL ARBITRATION HEARINGS WILL BE COMMENCED WITHIN
NINETY(90) DAYS OF THE DEMAND FOR ARBITRATION; FURTHER, THE ARBITRATOR SHALL
ONLY, UPON A SHOWING OF CAUSE, BE PERMITTED TO EXTEND THE COMMENCEMENT OF SUCH
HEARING FOR UP TO AN ADDITIONAL SIXTY (60) DAYS.

B. RESERVATIONS OF RIGHTS. NOTHING IN THIS SECURITY AGREEMENT SHALL BE DEEMED
TO: (I) LIMIT THE APPLICABILITY OF ANY OTHERWISE APPLICABLE STATUTES OF
LIMITATION OR REPOSE AND ANY WAIVERS CONTAINED IN THIS SECURITY AGREEMENT; OR
(II) BE A WAIVER BY THE SECURED PARTY OF THE PROTECTION AFFORDED TO IT BY 12
U.S.C. SEC. 91 OR ANY SUBSTANTIALLY EQUIVALENT STATE LAW; OR (III) LIMIT THE
RIGHT OF THE SECURED PARTY HERETO (A) TO EXERCISE SELF HELP REMEDIES SUCH AS
(BUT NOT LIMITED TO) SETOFF, OR (B) TO FORECLOSE AGAINST ANY REAL OR PERSONAL
PROPERTY COLLATERAL, OR (C) TO OBTAIN FROM A COURT PROVISIONAL OR ANCILLARY
REMEDIES SUCH AS (BUT NOT LIMITED TO) INJUNCTIVE RELIEF, WRIT OF POSSESSION OR
THE APPOINTMENT OF A RECEIVER. THE SECURED PARTY MAY EXERCISE SUCH SELF HELP
RIGHTS, FORECLOSE UPON SUCH PROPERTY, OR OBTAIN SUCH PROVISIONAL OR ANCILLARY

<PAGE>
REMEDIES BEFORE, DURING OR AFTER THE PENDENCY OF ANY ARBITRATION PROCEEDING
BROUGHT PURSUANT TO THIS SECURITY AGREEMENT. AT THE SECURED PARTY'S OPTION,
FORECLOSURE UNDER A DEED OF TRUST OR MORTGAGE MAY BE ACCOMPLISHED BY ANY OF THE
FOLLOWING: THE EXERCISE OF A POWER OF SALE UNDER THE DEED OF TRUST OR MORTGAGE,
OR BY JUDICIAL SALE UNDER THE DEED OF TRUST OR MORTGAGE, OR BY JUDICIAL
FORECLOSURE, NEITHER THIS EXERCISE OF SELF HELP REMEDIES NOR THE INSTITUTION OR
MAINTENANCE OF AN ACTION FOR FORECLOSURE OR PROVISIONAL OR ANCILLARY REMEDIES
SHALL CONSTITUTE A WAIVER OF THE RIGHT OF ANY PARTY, INCLUDING THE CLAIMANT IN
ANY SUCH ACTION, TO ARBITRATE THE MERITS OF THE CONTROVERSY OR CLAIM OCCASIONING
RESORT TO SUCH REMEDIES.

NOTICE OF FINAL AGREEMENT. THIS WRITTEN AGREEMENT AND THE OTHER LOAN DOCUMENTS
OF DEBTOR REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN OR ORAL AGREEMENTS BETWEEN THE PARTIES.

EXECUTED and ENTERED INTO to be effective as of December 31, 2001.

DEBTOR:                                   SECURED PARTY:
CRESCENT OPERATING, INC.                  BANK OF AMERICA, N.A.

By:                                       By:
   ------------------------------            -----------------------------------
Jeffrey L. Stevens, President and         Cary C. Conwell, Senior Vice President
Chief Executive Officer<PAGE>
                                                                     EXHIBIT 4.2

                          REGISTRATION RIGHTS AGREEMENT

                                  LIN TV CORP.

                                   ----------

                            Dated as of May __ 2002

                                   ----------

<PAGE>

                          REGISTRATION RIGHTS AGREEMENT

                  THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") dated as
of May, 2002, is entered into by and among LIN TV Corp. (f/k/a Ranger Equity
Holdings Corporation), a Delaware corporation (including its successors, the
"Company"), and the securityholders listed on the signature pages hereof.

                                    RECITALS:

         WHEREAS, the Company and certain of the Holders (the "LIN Holders") are
parties to that certain Stockholders Agreement dated March 3, 1998, as amended
by that certain First Amendment to Stockholders Agreement dated August 30, 2000
(as amended, the "Stockholders Agreement");

         WHEREAS, it is currently contemplated that the Company will file a
registration statement on Form S-1 relating to the initial public offering of
its Class A Common Stock (the "IPO");

         WHEREAS, in contemplation of the IPO, the LIN Holders have indicated
their willingness to terminate the Stockholders Agreement provided that they
receive registration rights with respect to their shares of Common Stock;

         WHEREAS, pursuant to that certain Agreement and Plan of Merger dated as
of February 19, 2002, between Sunrise and LIN TV Corp., as amended, subject to
the satisfaction of the conditions contained therein, Sunrise will merge with
and into LIN (the "Merger"); and

         WHEREAS, it is a condition to the consummation of the Merger that the
Company provide the stockholders of Sunrise registration rights with respect to
the shares of Common Stock to be received by them in the Merger.

         NOW, THEREFORE, BE IT RESOLVED, in consideration of the premises,
mutual covenants and agreements hereinafter contained and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

         1.1 Definitions.

                  "Advice" shall have the meaning provided in Section 2.5
hereof.

                  "Affiliate" means, with respect to any Person, any Person who,
directly or indirectly, controls, is controlled by or is under common control
with any Person.

                  "Business Day" means a day that is not a Legal Holiday.

<PAGE>

                  "Class A Common Stock" means shares of Class A Common Stock,
par value $0.01 per share, of the Company, and any capital stock into which such
Class A Common Stock thereafter may be changed.

                  "Class B Common Stock" means shares of Class B Common Stock,
par value $0.01 per share, of the Company, and any capital stock into which such
Class B Common Stock thereafter may be changed.

                  "Class C Common Stock" means shares of Class C Common Stock,
par value $0.01 per share, of the Company, and any capital stock into which such
Class C Common Stock thereafter may be changed.

                  "Common Stock" means shares of Class A Common Stock, Class B
Common Stock and Class C Common Stock.

                  "Common Stock Equivalents" means, without duplication with any
other Common Stock or Common Stock Equivalents, any rights, warrants, options,
convertible securities or indebtedness, exchangeable securities or indebtedness,
or other rights, exercisable for or convertible or exchangeable into, directly
or indirectly, Common Stock of the Company and securities convertible or
exchangeable into Common Stock of the Company, whether at the time of issuance
or upon the passage of time or the occurrence of such future event.

                  "Company" shall have the meaning set forth in the introductory
paragraph hereof.

                  "Demand Registration" shall have the meaning set forth in
Section 2.1.1 hereof.

                  "Demand Request" shall have the meaning set forth in Section
2.1.1 hereof.

                  "Effective Date" shall mean the date of the final prospectus
relating to the IPO.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, and the rules and regulations promulgated by the SEC thereunder.

                  "Excluded Registration" means a registration under the
Securities Act of (i) securities pursuant to one or more Demand Registrations
pursuant to Section 2 hereof, (ii) securities registered on Form S-8 or any
similar successor form, and (iii) securities registered to effect the
acquisition of or combination with another Person.

                  "HMC Group" means HMTF and its Affiliates and its and their
respective officers, directors and employees (and members of their respective
families and trusts for the primary benefit of such family members).

                                       2
<PAGE>

                  "HMTF" means Hicks, Muse, Tate & Furst Incorporated, a Texas
corporation.

                  "Holder" means (i) a securityholder listed on the signature
page hereof, (ii) any direct or indirect transferee of any such securityholder,
including any securityholder that receives shares of Common Stock upon a
distribution or liquidation of a Holder, who shall become a party to this
Agreement by its execution of a joinder agreement and (iii) any Later Holder who
shall become a party to this Agreement by its execution of a joinder agreement.

                  "Inspectors" shall have the meaning provided in Section 2.4(x)
hereof.

                  "IPO" shall have the meaning set forth in the recitals hereof.

                  "Later Holder" shall have the meaning provided in Section 4.8
hereof.

                  "Legal Holiday" shall have the meaning provided in Section 4.2
hereof.

                  "LIN Holders" shall have the meaning set forth in the recitals
hereof.

                  "Material Adverse Effect" shall have the meaning provided in
Section 2.1.4 hereof.

                  "Merger" shall have the meaning set forth in the recitals
hereof.

                  "NASD" shall have the meaning provided in Section 2.6 hereof.

                  "Person" or "person" means any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock
company, trust, unincorporated organization or government or other agency or
political subdivision thereof.

                  "Records" shall have the meaning provided in Section 2.4(x)
hereof.

                  "Registrable Shares" means at any time the Class A Common
Stock of the Company owned by the HMC Group or the Holders, whether owned on the
date hereof or acquired hereafter; provided, however, that Registrable Shares
shall not include any shares (i) the sale of which has been registered pursuant
to the Securities Act and which shares have been sold pursuant to such
registration or (ii) which have been sold pursuant to Rule 144 of the SEC under
the Securities Act. "Registrable Shares" shall also include Common Stock
Equivalents and shares of Class B Common Stock and Class C Common Stock which
are to be exercised or converted, as applicable, and in one or more steps, into
Class A Common Stock in connection with the sale of shares to the public
pursuant to such registration (whether or not such conversion occurs prior to or
on the effective date of such registration).

                  "Registration Expenses" shall have the meaning provided in
Section 2.6 hereof.

                                       3
<PAGE>

                  "Requesting Holders" shall have the meaning set forth in
Section 2.1.1 hereof.

                  "Required Filing Date" shall have the meaning provided in
Section 2.1.1(b) hereof.

                  "Required Holders" means Holders who then own beneficially
more than 66-2/3% of the aggregate number of shares of Common Stock subject to
this Agreement.

                  "SEC" means the Securities and Exchange Commission.

                  "Securities Act" means the Securities Act of 1933, as amended,
and the rules and regulations promulgated by the SEC thereunder.

                  "Seller Affiliates" shall have the meaning provided in Section
2.7.1 hereof.

                  "Stockholders Agreement" shall have the meaning set forth in
the recitals hereof.

                  "Suspension Notice" shall have the meaning provided in Section
2.5 hereof.

         1.2 Rules of Construction. Unless the context otherwise requires

                           (1) a term has the meaning assigned to it;

                           (2) "or" is not exclusive;

                           (3) words in the singular include the plural, and
                  words in the plural include the singular;

                           (4) provisions apply to successive events and
                  transactions; and

                           (5) "herein," "hereof" and other words of similar
                  import refer to this Agreement as a whole and not to any
                  particular Article, Section or other subdivision.

                                    ARTICLE 2
                               REGISTRATION RIGHTS

         2.1 Demand Registration.

                  2.1.1 Request for Registration.

                           (a) At any time after one hundred eighty (180) days
                  after the Effective Date, any Holder or Holders may request
                  the Company, in writing (a "Demand Request"), to effect the
                  registration under the Securities Act of all or part of its or
                  their Registrable Shares (a "Demand

                                       4
<PAGE>

                  Registration"). Notwithstanding the foregoing, no Demand
                  Request will be effective hereunder unless (i) the Registrable
                  Shares proposed to be sold by the Holders requesting the
                  Demand Registration (the "Requesting Holders," which term
                  shall include parties deemed "Requesting Holders" pursuant to
                  Section 2.1.5 hereof) represent, in the aggregate, more than
                  thirty-five percent (35%) of the total number of Registrable
                  Shares held by all Holders or (ii) (A) either (x) the
                  Registrable Shares proposed to be sold by the Requesting
                  Holders represent fifty-one percent (51%) or more of the total
                  number of Registrable Shares held by all Holders other than
                  the members of the HMC Group or (y) two (2) of the Requesting
                  Holders are not members of the HMC Group, (B) the Registrable
                  Shares proposed to be sold by the Requesting Holders have a
                  fair market value (determined in good faith by the Company's
                  Board of Directors), at the time of the Company's receipt of
                  the Demand Request, of Twenty-Five Million Dollars
                  ($25,000,000) or more and (C) the offering to be consummated
                  pursuant to such Demand Request will not, in the reasonable
                  opinion of an investment banking firm selected by the Company,
                  have a material adverse effect on the market price of the
                  Common Stock.

                           (b) Each Demand Request shall specify the number of
                  Registrable Shares proposed to be sold. Subject to Section
                  2.1.6, the Company shall file the Demand Registration within
                  ninety (90) days after receiving a Demand Request (the
                  "Required Filing Date") and shall use all commercially
                  reasonable efforts to cause the same to be declared effective
                  by the SEC as promptly as practicable after such filing;
                  provided that the Company need effect only two (2) Demand
                  Registrations pursuant to Demand Requests made under clause
                  (i) of the second sentence of paragraph (a) of this Section
                  2.1.1 and only one (1) Demand Registration pursuant to a
                  Demand Request made under clause (ii) of the second sentence
                  of paragraph (a) of this Section 2.1.1; provided, further,
                  that if any Registrable Shares requested to be registered
                  pursuant to a Demand Request made under clause (i) or clause
                  (ii) of the second sentence of paragraph (a) of this Section
                  2.1.1 are excluded from the applicable Demand Registration
                  pursuant to Section 2.1.4 below, the Holders shall have the
                  right, with respect to each such exclusion, to request one
                  additional Demand Registration under such clause (i) (in the
                  event such excluded shares were excluded from a Demand
                  Registration effected pursuant to a Demand Request made under
                  such clause (i)) or such clause (ii) (in the event such
                  excluded shares were excluded from a Demand Registration
                  effected pursuant to a Demand Request made under such clause
                  (ii)) with respect to such excluded Registrable Shares.

                  2.1.2 Effective Registration and Expenses. A registration will
not count as a Demand Registration until it has become effective (unless the
Requesting Holders withdraw all their Registrable Shares and the Company has
performed its obligations hereunder in all material respects, in which case such
demand will count as a Demand Registration unless the Requesting Holders pay all
Registration Expenses, as hereinafter

                                       5
<PAGE>

defined, in connection with such withdrawn registration); provided that if,
after it has become effective, an offering of Registrable Shares pursuant to a
registration is interfered with by any stop order, injunction, or other order or
requirement of the SEC or other governmental agency or court, such registration
will be deemed not to have been effected and will not count as a Demand
Registration.

                  2.1.3 Selection of Underwriters. The offering of Registrable
Shares pursuant to a Demand Registration shall be in the form of a "firm
commitment" underwritten offering. The Requesting Holders of a majority of the
Registrable Shares to be registered in a Demand Registration shall select the
investment banking firm or firms to manage the underwritten offering, provided
that such selection shall be subject to the consent of the Company, which
consent shall not be unreasonably withheld.

                  2.1.4 Priority on Demand Registrations. No securities to be
sold for the account of any Person (including the Company) other than a
Requesting Holder shall be included in a Demand Registration unless the managing
underwriter or underwriters shall advise the Company or the Requesting Holders
in writing that the inclusion of such securities will not materially and
adversely affect the price or success of the offering (a "Material Adverse
Effect"). Furthermore, in the event the managing underwriter or underwriters
shall advise the Company or the Requesting Holders that even after exclusion of
all securities of other Persons pursuant to the immediately preceding sentence,
the amount of Registrable Shares proposed to be included in such Demand
Registration by Requesting Holders is sufficiently large to cause a Material
Adverse Effect, the Registrable Shares of the Requesting Holders to be included
in such Demand Registration shall equal the number of shares which the Company
is so advised can be sold in such offering without a Material Adverse Effect and
such shares shall be allocated pro rata among the Requesting Holders on the
basis of the number of Registrable Shares requested to be included in such
registration by each such Requesting Holder.

                  2.1.5 Rights of Nonrequesting Holders. Upon receipt of any
Demand Request, the Company shall promptly (but in any event within ten (10)
days) give written notice of such proposed Demand Registration to all other
Holders, who shall have the right, exercisable by written notice to the Company
within twenty (20) days of their receipt of the Company's notice, to elect to
include in such Demand Registration such portion of their Registrable Shares as
they may request. All Holders requesting to have their Registrable Shares
included in a Demand Registration in accordance with the preceding sentence
shall be deemed to be "Requesting Holders" for purposes of this Section 2.1.

                  2.1.6 Deferral of Filing. The Company may defer the filing
(but not the preparation) of a registration statement required by Section 2.1
until a date not later than one hundred eighty (180) days after the Required
Filing Date (or, if longer, one hundred eighty (180) days after the effective
date of the registration statement contemplated by clause (ii) below) if (i) at
the time the Company receives the Demand Request, the Company or any of its
Subsidiaries are engaged in confidential negotiations or other confidential
business activities, disclosure of which would be required in such registration
statement (but would not be required if such registration statement were not

                                       6
<PAGE>

filed), and the Board of Directors of the Company determines in good faith that
such disclosure would be materially detrimental to the Company and its
stockholders, or (ii) prior to receiving the Demand Request, the Board of
Directors had determined to effect a registered underwritten public offering of
the Company's securities for the Company's account and the Company had taken
substantial steps (including, but not limited to, selecting a managing
underwriter for such offering) and is proceeding with reasonable diligence to
effect such offering. A deferral of the filing of a registration statement
pursuant to this Section 2.1.6 shall be lifted, and the requested registration
statement shall be filed forthwith, if, in the case of a deferral pursuant to
clause (i) of the preceding sentence, the negotiations or other activities are
disclosed or terminated, or, in the case of a deferral pursuant to clause (ii)
of the preceding sentence, the proposed registration for the Company's account
is abandoned. In order to defer the filing of a registration statement pursuant
to this Section 2.1.6, the Company shall promptly (but in any event within ten
(10) days), upon determining to seek such deferral, deliver to each Requesting
Holder a certificate signed by an executive officer of the Company stating that
the Company is deferring such filing pursuant to this Section 2.1.6 and a
general statement of the reason for such deferral and an approximation of the
anticipated delay. Within twenty (20) days after receiving such certificate, the
holders of a majority of the Registrable Shares held by the Requesting Holders
and for which registration was previously requested may withdraw such Demand
Request by giving notice to the Company; if withdrawn, the Demand Request shall
be deemed not to have been made for all purposes of this Agreement. The Company
may defer the filing of a particular registration statement pursuant to this
Section 2.1.6 only once.

         2.2 Piggyback Registrations.

                  2.2.1 Right to Piggyback. Each time the Company proposes to
register any of its equity securities (other than pursuant to an Excluded
Registration) under the Securities Act for sale to the public (whether for the
account of the Company or the account of any securityholder of the Company) and
the form of registration statement to be used permits the registration of
Registrable Shares, the Company shall give prompt written notice to each Holder
of Registrable Shares (which notice shall be given not less than thirty (30)
days prior to the effective date of the Company's registration statement), which
notice shall offer each such Holder the opportunity to include any or all of its
or his Registrable Shares in such registration statement, subject to the
limitations contained in Section 2.2.2 hereof. Each Holder who desires to have
its or his Registrable Shares included in such registration statement shall so
advise the Company in writing (stating the number of shares desired to be
registered) within twenty (20) days after the date of such notice from the
Company. Any Holder shall have the right to withdraw such Holder's request for
inclusion of such Holder's Registrable Shares in any registration statement
pursuant to this Section 2.2.1 by giving written notice to the Company of such
withdrawal. Subject to Section 2.2.2 below, the Company shall include in such
registration statement all such Registrable Shares so requested to be included
therein; provided, however, that the Company may at any time withdraw or cease
proceeding with any such registration if it shall at the same time withdraw or
cease proceeding with the registration of all other equity securities originally
proposed to be registered. Notwithstanding anything to the contrary contained in
this Section 2.2.1, no Holder shall

                                       7
<PAGE>

be entitled to register any of its Registrable Shares pursuant to this Section
2.2.1 until 180 days after the Effective Date, nor shall any Holder be entitled
to notice of any proposed registration by the Company of any of its equity
securities that is intended to become effective within 180 days of the Effective
Date.

                  2.2.2 Priority on Registrations. If the managing underwriter
advises the Company that the inclusion of Registrable Shares requested to be
included in the Registration Statement would cause a Material Adverse Effect,
the Company will be obligated to include in such registration statement, as to
each Requesting Holder, only a portion of the shares such Holder has requested
be registered equal to the ratio which such Holder's requested shares bears to
the total number of shares requested to be included in such registration
statement by all Persons (including Requesting Holders) who have requested
(pursuant to contractual registration rights) that their shares be included in
such registration statement. If as a result of the provisions of this Section
2.2.2 any Holder shall not be entitled to include all Registrable Shares in a
registration that such Holder has requested to be so included, such Holder may
withdraw such Holder's request to include Registrable Shares in such
registration statement. No Person may participate in any registration statement
hereunder unless such Person (x) agrees to sell such person's Registrable Shares
on the basis provided in any underwriting arrangements approved by the Company
and (y) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements, and other documents, each in customary
form, reasonably required under the terms of such underwriting arrangements;
provided, however, that no such Person shall be required to make any
representations or warranties in connection with any such registration other
than representations and warranties as to (i) such Person's ownership of his or
its Registrable Shares to be sold or transferred free and clear of all liens,
claims, and encumbrances, (ii) such Person's power and authority to effect such
transfer, and (iii) such matters pertaining to compliance with securities laws
as may be reasonably requested; provided further, however, that the obligation
of such Person to indemnify pursuant to any such underwriting arrangements shall
be several, not joint and several, among such Persons selling Registrable
Shares, and the liability of each such Person will be in proportion to, and
provided further that such liability will be limited to, the net amount received
by such Person from the sale of his or its Registrable Shares pursuant to such
registration.

         2.3 Holdback Agreement. Unless the managing underwriter otherwise
agrees, each of the Company and the Holders agrees (and the Company agrees, in
connection with any underwritten registration, to use its reasonable efforts to
cause its Affiliates to agree) not to effect any public sale or private offer or
distribution of any Common Stock or Common Stock Equivalents during the ten
Business Days prior to the effectiveness under the Securities Act of any
underwritten registration and during such time period after the effectiveness
under the Securities Act of any underwritten registration (not to exceed one
hundred eighty (180) days) (except, if applicable, as part of such underwritten
registration) as the Company and the managing underwriter may agree.

         2.4 Registration Procedures. Whenever any Holder has requested that any
Registrable Shares be registered pursuant to this Agreement, the Company will
use its

                                       8
<PAGE>

commercially reasonable efforts to effect the registration and the sale of such
Registrable Shares in accordance with the intended method of disposition
thereof, and pursuant thereto the Company will as expeditiously as possible:

                           (i) prepare and file with the SEC a registration
                  statement on any appropriate form under the Securities Act
                  with respect to such Registrable Shares and use its
                  commercially reasonable efforts to cause such registration
                  statement to become effective;

                           (ii) prepare and file with the SEC such amendments,
                  post-effective amendments, and supplements to such
                  registration statement and the prospectus used in connection
                  therewith as may be necessary to keep such registration
                  statement effective for a period of not less than one hundred
                  eighty (180) days (or such lesser period as is necessary for
                  the underwriters in an underwritten offering to sell unsold
                  allotments) and comply with the provisions of the Securities
                  Act with respect to the disposition of all securities covered
                  by such registration statement during such period in
                  accordance with the intended methods of disposition by the
                  sellers thereof set forth in such registration statement;

                           (iii) furnish to each seller of Registrable Shares
                  and the underwriters of the securities being registered such
                  number of copies of such registration statement, each
                  amendment and supplement thereto, the prospectus included in
                  such registration statement (including each preliminary
                  prospectus), any documents incorporated by reference therein
                  and such other documents as such seller or underwriters may
                  reasonably request in order to facilitate the disposition of
                  the Registrable Shares owned by such seller or the sale of
                  such securities by such underwriters (it being understood
                  that, subject to Section 2.5 and the requirements of the
                  Securities Act and applicable state securities laws, the
                  Company consents to the use of the prospectus and any
                  amendment or supplement thereto by each seller and the
                  underwriters in connection with the offering and sale of the
                  Registrable Shares covered by the registration statement of
                  which such prospectus, amendment or supplement is a part);

                           (iv) use its commercially reasonable efforts to
                  register or qualify such Registrable Shares under such other
                  securities or blue sky laws of such jurisdictions as the
                  managing underwriter reasonably requests (or, in the event the
                  registration statement does not relate to an underwritten
                  offering, as the holders of a majority of such Registrable
                  Shares may reasonably request); use its commercially
                  reasonable efforts to keep each such registration or
                  qualification (or exemption therefrom) effective during the
                  period in which such registration statement is required to be
                  kept effective; and do any and all other acts and things which
                  may be reasonably necessary or advisable to enable each seller
                  to consummate the disposition of the Registrable Shares owned
                  by such seller in such jurisdictions (provided, however, that
                  the Company will not be required to

                                       9
<PAGE>

                  (A) qualify generally to do business in any jurisdiction where
                  it would not otherwise be required to qualify but for this
                  subparagraph or (B) consent to general service of process in
                  any such jurisdiction);

                           (v) promptly notify each seller and each underwriter
                  and (if requested by any such Person) confirm such notice in
                  writing (A) when a prospectus or any prospectus supplement or
                  post-effective amendment has been filed and, with respect to a
                  registration statement or any post-effective amendment, when
                  the same has become effective, (B) of the issuance by any
                  state securities or other regulatory authority of any order
                  suspending the qualification or exemption from qualification
                  of any of the Registrable Shares under state securities or
                  "blue sky" laws or the initiation of any proceedings for that
                  purpose, and (C) of the happening of any event which makes any
                  statement made in a registration statement or related
                  prospectus untrue or which requires the making of any changes
                  in such registration statement, prospectus or documents so
                  that they will not contain any untrue statement of a material
                  fact or omit to state any material fact required to be stated
                  therein or necessary to make the statements therein not
                  misleading, and, as promptly as practicable thereafter,
                  prepare and file with the SEC and furnish a supplement or
                  amendment to such prospectus so that, as thereafter
                  deliverable to the purchasers of such Registrable Shares, such
                  prospectus will not contain any untrue statement of a material
                  fact or omit a material fact necessary to make the statements
                  therein, in light of the circumstances under which they were
                  made, not misleading;

                           (vi) make generally available to the Company's
                  securityholders an earnings statement satisfying the
                  provisions of Section 11(a) of the Securities Act no later
                  than thirty (30) days after the end of the twelve (12) month
                  period beginning with the first day of the Company's first
                  fiscal quarter commencing after the effective date of a
                  registration statement, which earnings statement shall cover
                  said twelve (12) month period, and which requirement will be
                  deemed to be satisfied if the Company timely files complete
                  and accurate information on Forms 10-Q, 10-K and 8-K under the
                  Exchange Act and otherwise complies with Rule 158 under the
                  Securities Act;

                           (vii) if requested by the managing underwriter or any
                  seller promptly incorporate in a prospectus supplement or
                  post-effective amendment such information as the managing
                  underwriter or any seller reasonably requests to be included
                  therein, including, without limitation, with respect to the
                  Registrable Shares being sold by such seller, the purchase
                  price being paid therefor by the underwriters and with respect
                  to any other terms of the underwritten offering of the
                  Registrable Shares to be sold in such offering, and promptly
                  make all required filings of such prospectus supplement or
                  post-effective amendment;

                                       10
<PAGE>

                           (viii) as promptly as practicable after filing with
                  the SEC of any document which is incorporated by reference
                  into a registration statement (in the form in which it was
                  incorporated), deliver a copy of each such document to each
                  seller;

                           (ix) cooperate with the sellers and the managing
                  underwriter to facilitate the timely preparation and delivery
                  of certificates (which shall not bear any restrictive legends
                  unless required under applicable law) representing securities
                  sold under any registration statement, and enable such
                  securities to be in such denominations and registered in such
                  names as the managing underwriter or such sellers may request
                  and keep available and make available to the Company's
                  transfer agent prior to the effectiveness of such registration
                  statement a supply of such certificates;

                           (x) promptly make available for inspection by any
                  seller, any underwriter participating in any disposition
                  pursuant to any registration statement, and any attorney,
                  accountant or other agent or representative retained by any
                  such seller or underwriter (collectively, the "Inspectors"),
                  all financial and other records, pertinent corporate documents
                  and properties of the Company (collectively, the "Records"),
                  as shall be reasonably necessary to enable them to exercise
                  their due diligence responsibility, and cause the Company's
                  officers, directors and employees to supply all information
                  requested by any such Inspector in connection with such
                  registration statement; provided, that, unless the disclosure
                  of such Records is necessary to avoid or correct a
                  misstatement or omission in the registration statement or the
                  release of such Records is ordered pursuant to a subpoena or
                  other order from a court of competent jurisdiction, the
                  Company shall not be required to provide any information under
                  this subparagraph (x) if (A) the Company believes, after
                  consultation with counsel for the Company, that to do so would
                  cause the Company to forfeit an attorney-client privilege that
                  was applicable to such information or (B) if either (1) the
                  Company has requested and been granted from the SEC
                  confidential treatment of such information contained in any
                  filing with the SEC or documents provided supplementally or
                  otherwise or (2) the Company reasonably determines in good
                  faith that such Records are confidential and so notifies the
                  Inspectors in writing unless prior to furnishing any such
                  information with respect to (A) or (B) such Holder of
                  Registrable Shares requesting such information agrees to enter
                  into a confidentiality agreement in customary form and subject
                  to customary exceptions; and provided, further that each
                  Holder of Registrable Shares agrees that it will, upon
                  learning that disclosure of such Records is sought in a court
                  of competent jurisdiction, give notice to the Company and
                  allow the Company, at its expense, to undertake appropriate
                  action and to prevent disclosure of the Records deemed
                  confidential;

                           (xi) furnish to each seller and underwriter a signed
                  counterpart of (A) an opinion or opinions of counsel to the
                  Company, and (B) a comfort

                                       11
<PAGE>

                  letter or comfort letters from the Company's independent
                  public accountants, each in customary form and covering such
                  matters of the type customarily covered by opinions or comfort
                  letters, as the case may be, as the sellers or managing
                  underwriter reasonably requests;

                           (xii) cause the Registrable Shares included in any
                  registration statement to be (A) listed on each securities
                  exchange, if any, on which similar securities issued by the
                  Company are then listed, or (B) authorized to be quoted and/or
                  listed (to the extent applicable) on the National Association
                  of Securities Dealers, Inc. Automated Quotation System or the
                  Nasdaq National Market if the Registrable Shares so qualify;

                           (xiii) provide a CUSIP number for the Registrable
                  Shares included in any registration statement not later than
                  the effective date of such registration statement;

                           (xiv) cooperate with each seller and each underwriter
                  participating in the disposition of such Registrable Shares
                  and their respective counsel in connection with any filings
                  required to be made with the National Association of
                  Securities Dealers, Inc.;

                           (xv) during the period when the prospectus is
                  required to be delivered under the Securities Act, promptly
                  file all documents required to be filed with the SEC pursuant
                  to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act;

                           (xvi) notify each seller of Registrable Shares
                  promptly of any request by the SEC for the amending or
                  supplementing of such registration statement or prospectus or
                  for additional information;

                           (xvii) prepare and file with the SEC promptly any
                  amendments or supplements to such registration statement or
                  prospectus which, in the opinion of counsel for the Company or
                  the managing underwriter, is required in connection with the
                  distribution of the Registrable Shares;

                           (xviii) enter into such agreements (including
                  underwriting agreements in the managing underwriter's
                  customary form) as are customary in connection with an
                  underwritten registration; and

                           (xix) advise each seller of such Registrable Shares,
                  promptly after it shall receive notice or obtain knowledge
                  thereof, of the issuance of any stop order by the SEC
                  suspending the effectiveness of such registration statement or
                  the initiation or threatening of any proceeding for such
                  purpose and promptly use its best efforts to prevent the
                  issuance of any stop order or to obtain its withdrawal at the
                  earliest possible moment if such stop order should be issued.

                                       12
<PAGE>

         2.5 Suspension of Dispositions. Each Holder agrees by acquisition of
any Registrable Shares that, upon receipt of any notice (a "Suspension Notice")
from the Company of the happening of any event of the kind described in Section
2.4(v)(C) such Holder will forthwith discontinue disposition of Registrable
Shares until such Holder's receipt of the copies of the supplemented or amended
prospectus, or until it is advised in writing (the "Advice") by the Company that
the use of the prospectus may be resumed, and has received copies of any
additional or supplemental filings which are incorporated by reference in the
prospectus, and, if so directed by the Company, such Holder will deliver to the
Company all copies, other than permanent file copies then in such Holder's
possession, of the prospectus covering such Registrable Shares current at the
time of receipt of such notice. In the event the Company shall give any such
notice, the time period regarding the effectiveness of registration statements
set forth in Section 2.4(ii) hereof shall be extended by the number of days
during the period from and including the date of the giving of the Suspension
Notice to and including the date when each seller of Registrable Shares covered
by such registration statement shall have received the copies of the
supplemented or amended prospectus or the Advice. The Company shall use its
commercially reasonable efforts and take such actions as are reasonably
necessary to render the Advice as promptly as practicable.

         2.6 Registration Expenses. All expenses incident to the Company's
performance of or compliance with this Article 2 including, without limitation,
all registration and filing fees, all fees and expenses associated with filings
required to be made with the National Association of Securities Dealers, Inc.
("NASD") (including, if applicable, the fees and expenses of any "qualified
independent underwriter" as such term is defined in Schedule E of the By-Laws of
the NASD, and of its counsel), as may be required by the rules and regulations
of the NASD, fees and expenses of compliance with securities or "blue sky" laws
(including reasonable fees and disbursements of counsel in connection with "blue
sky" qualifications of the Registrable Shares), rating agency fees, printing
expenses (including expenses of printing certificates for the Registrable Shares
in a form eligible for deposit with Depository Trust Company and of printing
prospectuses if the printing of prospectuses is requested by a holder of
Registrable Shares), messenger and delivery expenses, the Company's internal
expenses (including without limitation all salaries and expenses of its officers
and employees performing legal or accounting duties), the fees and expenses
incurred in connection with any listing of the Registrable Shares, fees and
expenses of counsel for the Company and its independent certified public
accountants (including the expenses of any special audit or "cold comfort"
letters required by or incident to such performance), securities acts liability
insurance (if the Company elects to obtain such insurance), the fees and
expenses of any special experts retained by the Company in connection with such
registration, and the fees and expenses of other persons retained by the Company
and reasonable fees and expenses of one firm of counsel for the sellers (which
shall be selected by the holders of a majority of the Registrable Shares being
included in any particular registration statement) (all such expenses being
herein called "Registration Expenses") will be borne by the Company whether or
not any registration statement becomes effective; provided that in no event
shall Registration Expenses include any underwriting discounts, commissions, or
fees attributable to the sale of the Registrable Shares or any counsel (except
as provided above), accountants, or other persons retained or employed by the
Holders.

                                       13
<PAGE>

         2.7 Indemnification.

                  2.7.1 The Company agrees to indemnify and reimburse, to the
fullest extent permitted by law, each seller of Registrable Shares, and each of
its employees, advisors, agents, representatives, partners, officers, and
directors and each Person who controls such seller (within the meaning of the
Securities Act or the Exchange Act) and any agent or investment advisor thereof
(collectively, the "Seller Affiliates") (A) against any and all losses, claims,
damages, liabilities, and expenses, joint or several (including, without
limitation, attorneys' fees and disbursements except as limited by Section
2.7.3) based upon, arising out of, related to or resulting from any untrue or
alleged untrue statement of a material fact contained in any registration
statement, prospectus, or preliminary prospectus or any amendment thereof or
supplement thereto, or any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein not
misleading, (B) against any and all loss, liability, claim, damage, and expense
whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation or investigation or proceeding by any governmental
agency or body, commenced or threatened, or of any claim whatsoever based upon,
arising out of, related to or resulting from any such untrue statement or
omission or alleged untrue statement or omission, and (C) against any and all
costs and expenses (including reasonable fees and disbursements of counsel) as
may be reasonably incurred in investigating, preparing, or defending against any
litigation, or investigation or proceeding by any governmental agency or body,
commenced or threatened, or any claim whatsoever based upon, arising out of,
related to or resulting from any such untrue statement or omission or alleged
untrue statement or omission, to the extent that any such expense or cost is not
paid under subparagraph (A) or (B) above; except insofar as the same are made in
reliance upon and in strict conformity with information furnished in writing to
the Company by such seller or any Seller Affiliate for use therein or arise from
such seller's or any Seller Affiliate's failure to deliver a copy of the
registration statement or prospectus or any amendments or supplements thereto
after the Company has furnished such seller or Seller Affiliate with a
sufficient number of copies of the same. The reimbursements required by this
Section 2.7.1 will be made by periodic payments during the course of the
investigation or defense, as and when bills are received or expenses incurred.

                  2.7.2 In connection with any registration statement in which a
seller of Registrable Shares is participating, each such seller will furnish to
the Company in writing such information and affidavits as the Company reasonably
requests for use in connection with any such registration statement or
prospectus and, to the fullest extent permitted by law, each such seller will
indemnify the Company and its directors and officers and each Person who
controls the Company (within the meaning of the Securities Act or the Exchange
Act) against any and all losses, claims, damages, liabilities, and expenses
(including, without limitation, reasonable attorneys' fees and disbursements
except as limited by Section 2.7.3) resulting from any untrue statement or
alleged untrue statement of a material fact contained in the registration
statement, prospectus, or any preliminary prospectus or any amendment thereof or
supplement thereto or any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein not
misleading, but only to the extent that such untrue statement or

                                       14
<PAGE>

alleged untrue statement or omission or alleged omission is contained in any
information or affidavit so furnished in writing by such seller or any of its
Seller Affiliates specifically for inclusion in the registration statement;
provided that the obligation to indemnify will be several, not joint and
several, among such sellers of Registrable Shares, and the liability of each
such seller of Registrable Shares will be in proportion to, and provided further
that such liability will be limited to, the net amount received by such seller
from the sale of Registrable Shares pursuant to such registration statement;
provided, however, that such seller of Registrable Shares shall not be liable in
any such case to the extent that prior to the filing of any such registration
statement or prospectus or amendment thereof or supplement thereto, such seller
has furnished in writing to the Company information expressly for use in such
registration statement or prospectus or any amendment thereof or supplement
thereto which corrected or made not misleading information previously furnished
to the Company.

                  2.7.3 Any Person entitled to indemnification hereunder will
(A) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give
such notice shall not limit the rights of such Person) and (B) unless in such
indemnified party's reasonable judgment a conflict of interest between such
indemnified and indemnifying parties may exist with respect to such claim,
permit such indemnifying party to assume the defense of such claim with counsel
reasonably satisfactory to the indemnified party; provided, however, that any
person entitled to indemnification hereunder shall have the right to employ
separate counsel and to participate in the defense of such claim, but the fees
and expenses of such counsel shall be at the expense of such person unless (X)
the indemnifying party has agreed to pay such fees or expenses, or (Y) the
indemnifying party shall have failed to assume the defense of such claim and
employ counsel reasonably satisfactory to such person. If such defense is not
assumed by the indemnifying party as permitted hereunder, the indemnifying party
will not be subject to any liability for any settlement made by the indemnified
party without its consent (but such consent will not be unreasonably withheld).
If such defense is assumed by the indemnifying party pursuant to the provisions
hereof, such indemnifying party shall not settle or otherwise compromise the
applicable claim unless (1) such settlement or compromise contains a full and
unconditional release of the indemnified party or (2) the indemnified party
otherwise consents in writing. An indemnifying party who is not entitled to, or
elects not to, assume the defense of a claim will not be obligated to pay the
fees and expenses of more than one counsel for all parties indemnified by such
indemnifying party with respect to such claim, unless in the reasonable judgment
of any indemnified party, a conflict of interest may exist between such
indemnified party and any other of such indemnified parties with respect to such
claim, in which event the indemnifying party shall be obligated to pay the
reasonable fees and disbursements of such additional counsel or counsels.

                  2.7.4 Each party hereto agrees that, if for any reason the
indemnification provisions contemplated by Section 2.7.1 or Section 2.7.2 are
unavailable to or insufficient to hold harmless an indemnified party in respect
of any losses, claims, damages, liabilities, or expenses (or actions in respect
thereof) referred to therein, then each indemnifying party shall contribute to
the amount paid or payable by such

                                       15
<PAGE>

indemnified party as a result of such losses, claims, liabilities, or expenses
(or actions in respect thereof) in such proportion as is appropriate to reflect
the relative fault of the indemnifying party and the indemnified party in
connection with the actions which resulted in the losses, claims, damages,
liabilities or expenses as well as any other relevant equitable considerations.
The relative fault of such indemnifying party and indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by such indemnifying party or
indemnified party, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 2.7.4 were determined by pro rata allocation (even if
the Holders or any underwriters or all of them were treated as one entity for
such purpose) or by any other method of allocation which does not take account
of the equitable considerations referred to in this Section 2.7.4. The amount
paid or payable by an indemnified party as a result of the losses, claims,
damages, liabilities, or expenses (or actions in respect thereof) referred to
above shall be deemed to include any legal or other fees or expenses reasonably
incurred by such indemnified party in connection with investigating or, except
as provided in Section 2.7.3, defending any such action or claim.
Notwithstanding the provisions of this Section 2.7.4, no Holder shall be
required to contribute an amount greater than the dollar amount by which the net
proceeds received by such Holder with respect to the sale of any Registrable
Shares exceeds the amount of damages which such Holder has otherwise been
required to pay by reason of any and all untrue or alleged untrue statements of
material fact or omissions or alleged omissions of material fact made in any
registration statement, prospectus or preliminary prospectus or any amendment
thereof or supplement thereto related to such sale of Registrable Shares. No
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. The Holders'
obligations in this Section 2.7.4 to contribute shall be several in proportion
to the amount of Registrable Shares registered by them and not joint.

                  If indemnification is available under this Section 2.7, the
indemnifying parties shall indemnify each indemnified party to the full extent
provided in Section 2.7.1 and Section 2.7.2 without regard to the relative fault
of said indemnifying party or indemnified party or any other equitable
consideration provided for in this Section 2.7.4 subject, in the case of the
Holders, to the limited dollar amounts set forth in Section 2.7.2.

                  2.7.5 The indemnification and contribution provided for under
this Agreement will remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer,
director, or controlling Person of such indemnified party and will survive the
transfer of securities.

                                       16
<PAGE>

                                    ARTICLE 3
                                   TERMINATION

         3.1 Termination. The provisions of this Agreement shall terminate on
March 3, 2008.

                                    ARTICLE 4
                                  MISCELLANEOUS

         4.1 Notices. Any notices or other communications required or permitted
hereunder shall be in writing, and shall be sufficiently given if made by hand
delivery, by telex, by telecopier or registered or certified mail, postage
prepaid, return receipt requested, addressed as follows (or at such other
address as may be substituted by notice given as herein provided):

         If to the Company:

                  LIN TV Corp.
                  Four Richmond Square, Suite 200
                  Providence, Rhode Island 02906
                  Attention: General Counsel

                  With copies to (which shall not constitute notice):

                  Hicks, Muse, Tate & Furst Incorporated
                  200 Crescent Court, Suite 1600
                  Dallas, Texas 75201
                  Attention: Peter S. Brodsky

                  Weil, Gotshal & Manges LLP
                  100 Crescent Court, Suite 1300
                  Dallas, Texas 75201
                  Attention: Glenn D. West, Esq.

         If to any Holder, at its address listed on the signature pages hereof.

                  Any notice or communication hereunder shall be deemed to have
been given or made as of the date so delivered if personally delivered; when
answered back, if telexed; when receipt is acknowledged, if telecopied; and five
(5) calendar days after mailing if sent by registered or certified mail (except
that a notice of change of address shall not be deemed to have been given until
actually received by the addressee).

                  Failure to mail a notice or communication to a Holder or any
defect in it shall not affect its sufficiency with respect to other Holders. If
a notice or communication is mailed in the manner provided above, it is duly
given, whether or not the addressee receives it.

                                       17
<PAGE>

         4.2 Legal Holidays. A "Legal Holiday" used with respect to a particular
place of payment is a Saturday, a Sunday or a day on which banking institutions
at such place are not required to be open. If a payment date is a Legal Holiday
at such place, payment may be made at such place on the next succeeding day that
is not a Legal Holiday, and no interest on the amount of such payment shall
accrue for the intervening period.

         4.3 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES
OF CONFLICTS OF LAW.

         4.4 Successors and Assigns. Whether or not an express assignment has
been made pursuant to the provisions of this Agreement, the rights granted to a
Holder under this Agreement are also for the benefit of, and enforceable by, all
subsequent holders of Registrable Shares, except as otherwise expressly provided
herein. This Agreement shall be binding upon the Company, each Holder, and their
respective successors and assigns.

         4.5 Duplicate Originals. All parties may sign any number of copies of
this Agreement. Each signed copy shall be an original, but all of them together
shall represent the same agreement.

         4.6 Severability. In case any provision in this Agreement shall be held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and the
remaining provisions shall not in any way be affected or impaired thereby

         4.7 No Waivers; Amendments.

                  4.7.1 No failure or delay on the part of the Company or any
Holder in exercising any right, power or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right,
power or remedy preclude any other or further exercise thereof or the exercise
of any other right, power or remedy. The remedies provided for herein are
cumulative and are not exclusive of any remedies that may be available to the
Company or any Holder at law or in equity or otherwise.

                  4.7.2 Any provision of this Agreement may be amended or waived
if, but only if, such amendment or waiver is in writing and is signed by the
Company and the Required Holders; provided that no such amendment or waiver
shall adversely affect the rights granted to the Holders who are not members of
the HMC Group where such amendment or waiver does not apply to the same extent
to the rights granted thereunder to the Holders who are members of the HMC
Group.

         4.8 Subsequent Holders. Each party to this Agreement hereby
acknowledges and agrees that any stockholder of Sunrise that receives shares of
Common Stock in the Merger, or any person receiving shares of Common Stock
following the Merger upon a distribution made by any person who was a
stockholder of Sunrise immediately prior to the effective time of the Merger (a
"Later Holder"), may become a Holder under this Agreement by executing a joinder
agreement pursuant to which such Later Holder agrees

                                       18
<PAGE>

to become a Holder hereunder and be entitled to the rights, and subject to the
obligations, hereunder.

         4.9 Termination of Stockholders Agreement. The Company and the LIN
Holders hereby agree that, effective as of the Effective Date, the Stockholders
Agreement shall terminate and be of no further force and effect.

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

                                       19
<PAGE>

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

                                           LIN TV CORP.

                                           By:
                                               ---------------------------------
                                           Name:
                                                 -------------------------------
                                           Title:
                                                  ------------------------------

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT

<PAGE>

                                    RANGER EQUITY PARTNERS, L.P.

                                    By:  TOH/Ranger, LLC, its general partner

                                         By:
                                            ------------------------------------
                                         Name:
                                              ----------------------------------
                                         Title:
                                               ---------------------------------

                                    Address:
                                    c/o Hicks, Muse, Tate & Furst Incorporated
                                    200 Crescent Court, Suite 1600
                                    Dallas, Texas 75201
                                    Attention: Peter S. Brodsky

                                    Copy to:
                                    Weil, Gotshal & Manges LLP
                                    100 Crescent Court, Suite 1300
                                    Dallas, Texas 75201
                                    Attention: Glenn D. West, Esq.

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                    --------------------------------------------
                                    Peter L. Kellner

                                    Address:
                                    15 Jubilee Place
                                    London SW3 TD
                                    England

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                    CHASE EQUITY ASSOCIATES, L.P.

                                    By:   Chase Capital Partners, its general
                                          partner

                                          By:
                                              ----------------------------------
                                          Name:
                                          Title:

                                    Address:
                                    380 Madison Avenue
                                    12th Floor
                                    New York, New York 10017
                                    Attention: Michael R. Hannon

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                  PALMETTO PARTNERS, LTD.

                                  By:   Palmetto Capital Corp., its
                                        general partner

                                        By:
                                           -------------------------------------
                                                 M. Robert Dussler
                                                 President & Chief Operating
                                                 Officer

                                  Address:
                                  Palmetto Partners, Ltd.
                                  711 Louisiana Street
                                  33rd Floor
                                  Houston, Texas 77002
                                  Attention: M. Robert Dussler

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                           GENERAL ELECTRIC CAPITAL CORPORATION

                                           By:
                                               ---------------------------------
                                               Richard J. Miller
                                               Vice President

                                           Address:
                                           c/o GE Capital - Equity Capital Group
                                           260 Long Ridge Road
                                           Stamford, Connecticut 06840

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                           STATE TREASURER OF THE STATE OF
                                           MICHIGAN, CUSTODIAN OF THE MICHIGAN
                                           PUBLIC SCHOOL EMPLOYEES' RETIREMENT
                                           SYSTEM, STATE EMPLOYEES' RETIREMENT
                                           SYSTEM, MICHIGAN STATE POLICE
                                           RETIREMENT SYSTEM, AND MICHIGAN
                                           JUDGES RETIREMENT SYSTEM

                                           By:
                                               ---------------------------------
                                               Linda Rose, Acting Administrator

                                           Address:
                                           430 W. Allegan
                                           Lansing, Michigan 48922

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                           CO-INVESTMENT PARTNERS, L.P.

                                           By:  CIP Partners, LLC, its general
                                                partner

                                           By:
                                               ---------------------------------
                                                 Christian A. Melhado, Member

                                           Address:
                                           660 Madison Avenue
                                           23rd Floor
                                           New York, New York 10021
                                           Attention: Christian A. Melhado

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                           JVG PARTNERS

                                           By:
                                               ---------------------------------
                                                   Harvey Jabara
                                                   Managing Partner

                                               Address:
                                               9300 E. Central
                                               Wichita, Kansas 67206
                                               Attention:  Harvey Jabara

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                        UBS CAPITAL LLC

                                        By:
                                           -------------------------------------
                                                 Michael Greene
                                                 Managing Director

                                        By:
                                           -------------------------------------
                                                 Charles Moore
                                                 Vice President

                                        Address:
                                        UBS Capital LLC
                                        299 Park Avenue
                                        34th Floor
                                        New York, New York 10171-0026
                                        Attention: Marc Unger

<PAGE>

                                        NATIONSBANC INVESTMENT CORPORATION

                                        By:
                                            ------------------------------------
                                            Robert H. Sheridan, III
                                            Senior Vice President

                                        Address:
                                        c/o NationsBank Capital Investors
                                        NationsBank Corporate Center
                                        NC1-007-10-04
                                        100 North Tryon Street, 10th Floor
                                        Charlotte, North Carolina 28255
                                        Attention: Robert H. Sheridan, III

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                CARSON/LIN SBS, L.P.

                                By:      Carson Resources, L.P.,
                                         its general partner

                                         By:   Carson Resources, Inc.,
                                               its general partner

                                               By:
                                                  ------------------------------
                                                      Royal W. Carson, III
                                                      President

                                Address:
                                400 North St. Paul Street
                                Suite 880
                                Dallas, Texas 75201
                                Attention: Royal W. Carson, III

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                    FOJTASEK CAPITAL, LTD.

                                    By:
                                       -----------------------------------------
                                             Randall S. Fojtasek
                                             General Partner

                                    Address:
                                    1341 W. Mockingbird
                                    Suite 1212 West
                                    Dallas, Texas 75247
                                    Attention: Brian Marczynski

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                          SOCATEAN PARTNERS

                                          By:
                                             -----------------------------------
                                                Robert Greenhill
                                                Managing Partner

                                          Address:
                                          Greenhill & Co. LLC
                                          31 West 52d Street
                                          16th Floor
                                          New York, New York 10019
                                          Attention: Robert Greenhill

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