Document:

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                                                                    Exhibit 10.1

                             TIME SHARING AGREEMENT

     This Time Sharing Agreement (this "AGREEMENT") is made, effective as of
March 29, 2005 (the "EFFECTIVE DATE"), by and between Liberty Media Corporation,
a corporation incorporated under the laws of the State of Delaware, with
principal offices at 12300 Liberty Blvd., Englewood, CO 80112 ("LESSOR"), and
Robert R. Bennett, with an address of 12300 Liberty Blvd., Englewood, CO 80112
("LESSEE");

                                    RECITALS

     A. Lessor is the owner of an undivided 75% interest in the civil aircraft
bearing the United States Registration Number N730LM and Manufacturer's Serial
Number 101, and of the type of a Dassault Falcon 900EX ("AIRCRAFT");

     B. Lessor employs a fully qualified flight crew to operate the Aircraft;

     C. Liberty Media International, Inc. ("LMI") owns the remaining undivided
25% interest in the Aircraft;

     D. Lessor and LMI are parties to an Agreement for Aircraft Joint Ownership
and Management dated as of May 21, 2004, the terms and conditions of which
govern the ownership and operation of the Aircraft (the "MANAGEMENT AGREEMENT");
and

     E. Lessor desires to lease the Aircraft and flight crew to Lessee on a time
sharing basis as defined in Section 91.501(c)(1) of the Federal Aviation
Regulations ("FARS").

     The parties agree as follows:

     1. Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions
of FAR 91.501(c)(1) and to provide a fully qualified flight crew for all
operations pursuant to this Agreement. This Agreement shall commence on the
Effective Date and continue until the first anniversary of the Effective Date.
Thereafter, this Agreement shall be automatically renewed on a month-to-month
basis, unless sooner terminated by either party as provided in this Agreement.
Either party may terminate this Agreement at any time (including during the
initial one-year term) upon 30 days' written notice to the other party,
delivered personally or by certified mail, return receipt requested, at the
address for the other party as set forth in the preamble to this Agreement.

     2. Lessee shall pay Lessor an amount equal to the fair market value of each
flight conducted under this Agreement, as determined by Lessor, which in no
event shall exceed the following actual expenses of each specific flight as
authorized by FAR Part 91.501(d):

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

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

          (c)  Hangar and tie down costs away from the Aircraft's base of
               operation;

          (d)  Insurance obtained for the specific flight;

          (e)  Landing fees, airport taxes and similar assessments, including
               any federal excise tax that may be imposed under IRC Section 4261
               or any similar excise taxes, if any;

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

          (g)  In-flight food and beverages;

          (h)  Passenger ground transportation;

          (i)  Flight planning and weather contract services; and

          (j)  An additional charge equal to 100% of the expenses listed in
               subparagraph (a) of this paragraph.

     3. Lessor will pay all expenses related to the operation of the Aircraft
when incurred and will bill Lessee on a monthly basis as soon as practically
possible after the last day of each calendar month for the fair market value of
any and all flights for the account of Lessee under this Agreement during the
preceding month, as determined by Lessor, but in no event more than an amount
equal to the expenses enumerated in paragraph 2 for each such flight. Lessee
shall pay Lessor for all flights for the account of Lessee pursuant to this
Agreement within 30 days after receipt by Lessee of the invoice therefor. If
requested by Lessee, Lessor will provide Lessee with a detailed accounting of
the expenses enumerated in paragraph 2 for each flight for the account of Lessee
pursuant to this Agreement.

     4. Lessee will provide Lessor with requests for flight time and proposed
flight schedules as far in advance of any given flight as possible, and in any
case, at least 24 hours in advance of Lessee's planned departure unless Lessor
otherwise agrees. Requests for flight time shall be in a form, whether written
or oral, agreed upon by the parties. In addition to the proposed schedules and
flight times, Lessee shall provide at least the following information for each
proposed flight prior to scheduled departure at such time as required by Lessor
or Lessor's flight crew:

          (a)  departure point;

          (b)  destination;

          (c)  date and time of flight;

          (d)  number of anticipated passengers;

          (e)  nature and extent of luggage and/or cargo to be carried;

          (f)  date and time of return flight, if any; and

          (g)  any other information concerning the proposed flight that may be
               reasonably required by Lessor or Lessor's flight crew.

     5. Lessor shall have final authority over the scheduling of the Aircraft,
including any limitations on the number of passengers on any flight for the
account of Lessee pursuant to this

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Agreement; provided, however, that Lessor will use commercially reasonable
efforts to accommodate Lessee's needs and to avoid conflicts in scheduling.

     6. As between Lessor and Lessee, Lessor shall be solely responsible for
securing maintenance, preventive maintenance and required or otherwise necessary
inspections on the Aircraft and shall take such requirements into account in
scheduling the Aircraft. No period of maintenance, preventive maintenance or
inspection shall be delayed or postponed for the purpose of scheduling the
Aircraft, unless such maintenance or inspection can be safely conducted at a
later time in compliance with all applicable laws and regulations, and within
the sound discretion of the pilot in command. The pilot in command shall have
final and complete authority to cancel any flight for any reason or condition
that in his judgment would compromise the safety of the flight.

     7. Lessor shall employ, pay for and provide to Lessee a qualified flight
crew for each flight undertaken under this Agreement.

     8. In accordance with applicable Federal Aviation Regulations, the
qualified flight crew provided by Lessor will exercise all of its duties and
responsibilities in regard to the safety of each flight conducted hereunder.
Lessee specifically agrees that the flight crew, in its sole discretion, may
terminate any flight, refuse to commence any flight, or take other action that
in the considered judgment of the pilot in command is necessitated by
considerations of safety. No such action of the pilot in command shall create or
support any liability for loss, injury, damage or delay to Lessee or any other
Person. The parties further agree that Lessor shall not be liable for delay or
failure to furnish the Aircraft and crew pursuant to this Agreement when such
failure is caused by government regulation or authority, mechanical difficulty,
war, civil commotion, strikes or labor disputes, weather conditions, or acts of
God or any other event or circumstance beyond the reasonable control of Lessor.

     9. (a) At all times during the term of this Agreement, Lessor shall cause
to be carried and maintained, at Lessor's cost and expense, physical damage
insurance with respect to the Aircraft, third party aircraft liability
insurance, passenger legal liability insurance, property damage liability
insurance, and medical expense insurance in such amounts and on such terms and
conditions as Lessor shall determine in its sole discretion. Lessor shall bear
the cost of paying any deductible amount on any policy of insurance in the event
of a claim or loss.

        (b) Any policies of insurance carried in accordance with this Agreement:
(i) shall name Lessee as an additional insured; (ii) shall contain a waiver by
the underwriter thereof of any right of subrogation against Lessee; (iii) shall
provide that in respect of the interests of Lessee, such policies of insurance
shall not be invalidated by any action or inaction of Lessor or any other Person
and shall insure Lessee (subject to the limits of liability and exclusions set
forth in such policies) regardless of any breach or any violation of any
warranty, declarations or conditions contained in such policies by Lessor or any
other Person; and (iv) shall provide that the insurers shall provide at least 30
days' prior written notice (or at least seven days' prior written notice in the
case of any war-risk insurance) to Lessee if the insurers cancel insurance for

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any reason whatsoever, or if the same is allowed to lapse for non-payment of
premium. Each liability policy shall be primary without right of contribution
from any other insurance that is carried by Lessee or Lessor and shall expressly
provide that all of the provisions thereof, except the limits of liability,
shall operate in the same manner as if there were a separate policy covering
each insured.

        (c) Lessor shall obtain the approval of this Agreement by the insurance
carrier for each policy of insurance on the Aircraft. If requested by Lessee,
Lessor shall arrange for a Certificate of Insurance evidencing the insurance
coverage with respect to the Aircraft carried and maintained by Lessor to be
given by its insurance carriers to Lessee or will provide Lessee with a copy of
any such insurance policies. Lessor will give Lessee reasonable advance notice
of any material modifications to insurance coverage relating to the Aircraft.
Lessee agrees that the proceeds of insurance will be Lessee's sole recourse
against Lessor with respect to any claims that Lessee may have under this
Agreement, except in the event of gross negligence or willful misconduct by
Lessor. In no event shall Lessor be liable for any indirect, consequential,
special or incidental damages with respect to any matter relating to this
Agreement.

     10. Lessee warrants to Lessor that:

          (a) it will use the Aircraft for and on account of its own business
     only and will not use the Aircraft for the purpose of providing
     transportation of passengers or cargo in air commerce for compensation or
     hire, for any illegal purpose, or in violation of any insurance policies
     with respect to the Aircraft;

          (b) it will refrain from incurring any mechanics' or other lien in
     connection with inspection, preventive maintenance, maintenance or storage
     of the Aircraft, whether permissible or impermissible under this Agreement,
     and it will not attempt to convey, mortgage, assign, lease or in any way
     alienate the Aircraft or create any kind of lien or security interest
     involving the Aircraft or do anything or take any action that might mature
     into such a lien;

          (c) it will not use the Aircraft in any manner that would result in a
     violation of the Management Agreement by Lessor; and

          (d) it will comply with all applicable laws, governmental and airport
     orders, rules and regulations, as shall from time to time be in effect
     relating in any way to the operation and use of the Aircraft under this
     Agreement.

     11. For purposes of this Agreement, the permanent base of operation of the
Aircraft shall be Centennial Airport, Englewood, Colorado.

     12. Lessee shall not assign this Agreement or its interest herein to any
other Person without the prior written consent of Lessor, which may be granted
or denied in Lessor's sole and absolute discretion. Subject to the preceding
sentence, this Agreement shall inure to the benefit of and be binding upon the
parties hereto, and their respective heirs, representatives, successors and
assigns, and does not confer any rights on any other Person.

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     13. This Agreement constitutes the entire understanding between the parties
with respect to the subject matter contained herein and supersedes any prior
understandings and agreements between them respecting such subject matter. This
Agreement may be amended or supplemented only by a written instrument signed by
all parties. If any provision of this Agreement is held invalid or unenforceable
by any court of competent jurisdiction, the other provisions of this Agreement
will remain in full force and effect. The failure or delay on the part of any
party to insist on strict performance of any of the terms and conditions of this
Agreement or to exercise any rights or remedies under this Agreement will not
constitute a waiver of any of its rights or remedies hereunder. Words of gender
used in this Agreement may be read as masculine, feminine or neuter as required
by the context. Words of number may be read as singular or plural, as required
by the context. The word "include" and derivatives of that word are used in this
Agreement in an illustrative sense rather than a limiting sense. The word "or"
is not exclusive and shall be interpreted as meaning "and/or." The words "shall"
and "will" are used interchangeably and are intended to have the same meaning.
Where applicable, this Agreement may be referred to as "this Lease." The term
"Person" means an individual, corporation, partnership, limited liability
company, trust, association, unincorporated organization or other entity. This
Agreement will be governed by and construed in accordance with the laws of the
State of Colorado without regard to conflicts of laws principles. This Agreement
may be executed in two or more identical counterparts, each of which will be
deemed to be an original copy of this Agreement and all of which counterparts
taken together will be deemed to constitute one and the same instrument.

     14. TRUTH IN LEASING STATEMENT

     THE AIRCRAFT, A DASSAULT FALCON 900EX, MANUFACTURER'S SERIAL NO. 101,
CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS N730LM, HAS
BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12 MONTH PERIOD
PRECEDING THE DATE OF THIS LEASE.

     THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR
OPERATIONS TO BE CONDUCTED UNDER THIS LEASE. DURING THE DURATION OF THIS LEASE,
LIBERTY MEDIA CORPORATION, WITH PRINCIPAL OFFICES AT 12300 LIBERTY BLVD.,
ENGLEWOOD, CO 80112, IS CONSIDERED RESPONSIBLE FOR OPERATIONAL CONTROL OF THE
AIRCRAFT UNDER THIS LEASE.

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

     THE "INSTRUCTIONS FOR COMPLIANCE WITH TRUTH IN LEASING REQUIREMENTS"
ATTACHED HERETO ARE INCORPORATED HEREIN BY REFERENCE.

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     I, THE UNDERSIGNED, CHRISTOPHER W. SHEAN, AS SENIOR VICE PRESIDENT AND
CONTROLLER OF LIBERTY MEDIA CORPORATION, WITH PRINCIPAL OFFICES AT 12300 LIBERTY
BLVD., ENGLEWOOD, CO 80112, CERTIFY THAT LIBERTY MEDIA CORPORATION IS
RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT AND THAT IT UNDERSTANDS ITS
RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the
Effective Date.

LESSOR - LIBERTY MEDIA CORPORATION

By:
    ---------------------------------
    Christopher W. Shean, Senior Vice
    President and Controller

LESSEE - ROBERT R. BENNETT

-------------------------------------
Robert R. Bennett, individually

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               INSTRUCTIONS FOR COMPLIANCE WITH "TRUTH IN LEASING"
                                  REQUIREMENTS

1.   Mail a copy of the lease to the following address via certified mail,
     return receipt requested, immediately upon execution of the lease (14
     C.F.R. 91.23 requires that the copy be sent within 24 hours after it is
     signed):

          Federal Aviation Administration
          Aircraft Registration Branch
          ATTN: Technical Section
          P.O. Box 25724
          Oklahoma City, Oklahoma  73125

2.   Telephone the nearest Flight Standards District Office at least 48 hours
     prior to the first flight under this lease.

3.   Carry a copy of the lease in the Aircraft at all times.

                                       7<Page>

                                                                   Exhibit 10.2
                                 May 4, 2005

Mr. Robert R. Bennett
Liberty Media Corporation
12300 Liberty Boulevard
Englewood, Colorado  80112

     Re:  Personal Use of Company Aircraft

Dear Dob:

     Reference is made to the letter agreement dated May 8, 2003 (the "Prior
Letter Agreement") between Liberty Media Corporation ("LMC") and you regarding
personal use of aircraft owned or leased by LMC (collectively, "LMC Aircraft")
and to the Time Sharing Agreement dated as of March 29, 2005 (the "Falcon Time
Sharing Agreement"), between LMC and you regarding the lease by LMC to you on a
time sharing basis of the Dassault Falcon 900EX aircraft, manufacturer's serial
number 101 and U.S. registration number N730LM (the "Falcon Aircraft"), which is
one of the LMC Aircraft as of the date of this letter agreement (this
"Agreement"). This Agreement sets forth our agreement with respect to certain
matters related to your personal use of the Falcon Aircraft.

     1. CHARGES FOR USE OF FALCON AIRCRAFT. Paragraph 2 of the Falcon Time
Sharing Agreement provides that you will pay LMC an amount equal to the fair
market value of each flight conducted under the Falcon Time Sharing Agreement,
as determined by LMC, which in no event will exceed the actual expenses for each
specific flight identified in paragraph 2 of the Falcon Time Sharing Agreement
as authorized under the Federal Aviation Regulations ("FARs") Part 91.501(d)
(the "FAR Cap"). LMC agrees with you that LMC will calculate the fair market
value of each flight conducted under the Falcon Time Sharing Agreement to be
billed to you based on the Standard Industry Fair Level formula ("SIFL")
pursuant to 26 C.F.R. Section 1.61-21(g) or any successor provision (the "SIFL
Rate"), but in no event will the fair market value of any flight to be billed to
you exceed the FAR Cap. LMC intends that the SIFL Rate will not exceed the FAR
Cap with respect to each flight conducted under the Falcon Time Sharing
Agreement, and you will cooperate with LMC to achieve that result in accordance
with the terms of the Falcon Time Sharing Agreement.

     2. RELATIONSHIP BETWEEN PRIOR LETTER AGREEMENT AND FALCON TIME SHARING
AGREEMENT. Unless LMC and you agree with respect to any specific flight, each
flight involving your personal use of the Falcon Aircraft will be conducted
under and governed by the terms of the Falcon Time Sharing Agreement rather than
by the terms of the Prior Letter Agreement to the extent that there is any
conflict between those two agreements.
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     3. RELATIONSHIP BETWEEN THIS AGREEMENT AND FALCON TIME SHARING AGREEMENT.
This Agreement supplements and amends the Falcon Time Sharing Agreement and to
the extent that any provision of this Agreement and the Falcon Time Sharing
Agreement are inconsistent, the terms of this Agreement will control; provided,
however, that in no event will LMC charge you an amount for any specific flight
under the Falcon Time Sharing Agreement in excess of the FAR Cap and in no event
will any use of the Falcon Aircraft by you pursuant to the Falcon Time Sharing
Agreement violate the FARs.

     4. RELATIONSHIP BETWEEN THIS AGREEMENT AND PRIOR LETTER AGREEMENT. This
Agreement supplements and amends the Prior Letter Agreement and to the extent
that any provision of this Agreement and the Prior Letter Agreement are
inconsistent, the terms of this Agreement will control.

     5. GOVERNING LAW. This Agreement will be governed by, and will be construed
and enforced in accordance with, the laws of the State of Colorado without
regard to the conflict of laws principles of that jurisdiction.

     6. ENTIRE AGREEMENT. This Agreement, together with the Prior Letter
Agreement and the Falcon Time Sharing Agreement, constitute the entire agreement
and understanding between the parties with respect to the subject matter hereof
and supersede any and all previous written or oral representations, promises,
agreements or understandings of whatever nature between the parties with respect
to the subject matter. This Agreement may not be altered or amended except by an
agreement in writing signed by both parties. This Agreement may be signed in
counterparts.

     If you agree with the foregoing, please execute the enclosed copy of this
letter.

                                        Very truly yours,

                                        LIBERTY MEDIA CORPORATION

                                        By:
                                           ----------------------------
                                           Charles Y. Tanabe
                                           Senior Vice President

AGREED:

---------------------------
Robert R. Bennett

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