Document:

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                                                                   Exhibit 10.36

                            SECURED PROMISSORY NOTE

San Diego, California
$4,820,343.14                                                      April 2, 2001

        1. Promise to Pay. For good and valuable consideration, the undersigned,
Michael L. Robertson ("Borrower"), unconditionally promises to pay to the order
of MP3.com, Inc., a Delaware corporation ("Lender" or the "Company"), at 4790
Eastgate Mall, San Diego, California 92121-1970, or at such other place as the
holder hereof may from time to time designate by written notice to Borrower, the
principal sum of Four Million Eight Hundred Twenty Thousand Three Hundred
Forty-Three and 14/100 Dollars ($4,820,343.14), or such amount as shall equal
the outstanding principal amount hereof, together with interest from the date of
this Note until paid on the unpaid principal balance at the rate of six and
75/100 percent (6.75%) per annum, compounded annually, computed on the basis of
the actual number of days elapsed and a year of 360 days. This Note and the
obligations of Borrower hereunder are secured by a Pledge and Security Agreement
between Borrower and Lender of even date herewith (the "Security Agreement").
The holder of this Note shall have full recourse to all assets and properties of
the Borrower, including without limitation the Collateral (as defined in the
Security Agreement) pledged to Lender in the Security Agreement, which
Collateral shall be held in escrow pursuant to the terms of an Escrow Agreement
between Borrower, Lender and the Escrow Agent named therein of even date
herewith (the "Escrow Agreement"); provided, however, Lender acknowledges and
agrees that it shall have no recourse to Borrower's principal residence. This
Note, the Security Agreement, the Escrow Agreement and all other documents and
instruments executed in connection herewith or therewith are collectively
referred to as the "Loan Documents."

        2. Payment. The entire outstanding principal balance plus all accrued
interest and all other unpaid fees or other amounts to be paid or reimbursed by
Borrower pursuant to the Loan Documents shall be due and payable on the earlier
to occur of (i) the date that is one (1) year after the date of this Note, and
(ii) the date of consummation of any event, including but not limited to any
merger, sale, acquisition or other transaction, whereby the stockholders of the
Company are entitled to receive, in exchange for their shares of Common Stock of
the Company, cash or publicly-traded securities (such earlier date is referred
to herein as the "Demand Date"), provided, however, that all fees, expenses and
costs described in Section 7 below shall be payable upon demand. All payments
shall be applied first to fees and expenses to be paid or reimbursed by Borrower
pursuant to the Loan Documents, then to accrued interest, and then to the
principal balance. All payments shall be made in lawful money of the United
States.

        3. Prepayment. The Borrower may from time to time prepay in whole or in
part without penalty or premium the principal hereof. Any prepayment of
principal shall be accompanied by payment of accrued interest on such principal
to the date of such prepayment.

        4. Use of Proceeds. The proceeds of this Note shall be used by Borrower
for the purpose of meeting a margin call.

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        5. Representations and Warranties. Borrower represents and warrants to
Lender as follows:

            (a) Authorization. Each Loan Document has been duly executed and
delivered by Borrower and constitutes the legal, valid and binding obligation of
Borrower, enforceable in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency or other laws affecting
creditors' rights generally and the exercise of judicial discretion in
accordance with general equitable principles.

            (b) No Conflict. The execution, delivery and performance of each
Loan Document by Borrower, and the compliance with the terms and conditions
hereof and thereof by Borrower, does not, with or without the giving of notice
or the lapse of time or both, conflict with, breach the terms or conditions of,
constitute a default under, or violate (i) any material agreement to which
Borrower is a party, or (ii) any judgment, decree, order, law, rule or
regulation applicable to Borrower.

            (c) Litigation. There is no unsatisfied judgment, award, order,
writ, injunction, arbitration, decision or decree outstanding or any litigation,
proceeding, claim or investigation pending or, to the best knowledge of
Borrower, threatened against Borrower which may adversely affect the ability of
Borrower to enter into and perform Borrower's obligations under the Loan
Documents.

            (d) Accuracy of Representations and Warranties; Disclosure. No
representation or warranty of Borrower set forth in this Note or any other Loan
Document, or any certificate or written statement furnished by Borrower for use
in connection with the transactions contemplated hereby contains any untrue
statement of material fact or omits to state a material fact necessary in order
to make the statements contained herein or therein not misleading.

        6. Events of Default.

            (a) At the option of the holder hereof, this Note shall become
immediately due and payable, without notice or demand, upon the occurrence at
any time of any of the following events of default (each event described under
subsection (a) or (b) below, an "Event of Default" or a "Default"):

               (i) Any representation or warranty made by Borrower herein or in
        connection with any other Loan Document shall prove to have been false
        or incorrect in any material respect when made; or

               (ii) Failure of Borrower to completely perform or observe when
        due, any condition, covenant or obligation of Borrower herein or in
        connection with any other Loan Document (including without limitation
        Borrower's obligation to pay principal and interest due hereunder).

            (b) This Note shall automatically become due and payable, without
notice or demand and without the need for any action or election by the holder
hereof, upon the occurrence at any time of any of the following Events of
Default:

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               (i) The making of an assignment for the benefit of creditors by
        Borrower; the voluntary appointment (at the request of any such party or
        with the consent of any such party) of a receiver, custodian, liquidator
        or trustee in bankruptcy of the property of Borrower; the filing by
        Borrower of a petition in bankruptcy or an adjudication of Borrower as
        bankrupt or insolvent; or the filing by Borrower of any petition or
        answer seeking or acquiescing in any relief under any present or future
        federal, state or other law or regulation relating to bankruptcy,
        insolvency or other relief for debtors; or

               (ii) The filing against Borrower of a petition seeking any relief
        under any present or future federal, state or other law or regulation
        relating to bankruptcy, insolvency or other similar relief for debtors,
        or the involuntary appointment of a receiver, custodian, liquidator or
        trustee in bankruptcy of the property of Borrower, and such petition or
        appointment is not vacated or discharged within thirty (30) days after
        the filing or making thereof.

Borrower shall promptly give notice in writing to Lender of the occurrence of
any Event of Default or any event reasonably likely to result in the occurrence
of an Event of Default.

        7. Expenses. If this Note is not paid when due, whether at maturity or
by acceleration, the undersigned promises to pay all costs of collection,
including without limitation reasonable attorneys' fees, and all expenses in
connection with the protection or realization of any collateral securing this
Note or the enforcement of any guaranty hereof incurred by the holder hereof on
account of such collection, whether or not suit is filed hereon; and such costs
and expenses shall include without limitation all costs, attorneys' fees and
expenses incurred by the holder hereof in connection with any insolvency,
bankruptcy, reorganization, arrangement or other similar proceedings involving
Borrower, which in any way affect the exercise by the holder hereof of its
rights and remedies under this Note. The amount of such costs and expenses shall
be repaid to the holder hereof upon written demand therefor. Should interest not
be paid when due, it shall thereafter bear like interest as the principal.

        8. Maximum Rate. Anything in this Note or any of the other Loan
Documents to the contrary notwithstanding, if at any time the rate of interest
on the Note together with all fees and charges, if any (collectively, the
"Charges"), contracted for, charged, received, taken or reserved by the holder
hereof which may be treated as interest under applicable law, computed over the
full term of the Note, exceeds the maximum legal limit (if any such limit is
applicable) under United States federal law or state law (to the extent not
preempted by federal law, if any), now or hereafter governing the interest
payable on the Note (the "Maximum Rate"), then the rate of interest on the Note,
together with all Charges, shall be limited to the Maximum Rate. If from any
circumstances, the holder hereof shall ever receive as interest an amount which
would exceed the Maximum Rate, such amount which would be excessive interest
shall be applied to the reduction of the unpaid principal balance hereunder
(whether or not due and payable) and not to the payment of interest.

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        9. Miscellaneous.

            (a) Presentment, demand, protest, notices of protest, dishonor and
non-payment of this Note and all notices of every kind are hereby waived. To the
extent permitted by applicable law, the defense of the statute of limitations is
hereby waived by Borrower.

            (b) No single or partial exercise of any power hereunder shall
preclude other or further exercise thereof or the exercise of any other power.
The holder hereof shall at all times have the right to proceed against any
portion of any security held therefor in such order and in such manner as the
holder may deem fit, without waiving any rights with respect to any other
security. No delay or omission on the part of the holder hereof in exercising
any right hereunder shall operate as a waiver of such right or of any other
right under this Note. No waiver of any breach of any of the covenants or
conditions of this Note shall be construed to be a waiver of or acquiescence in
or a consent to any previous or subsequent breach of the same or any other
condition or covenant. The release of any party liable on this Note shall not
operate to release any other party liable hereon.

            (c) No right, power or remedy conferred upon or reserved to the
holder hereof by this Note is intended to be exclusive of any other right, power
or remedy, but each and every such right, power and remedy shall be cumulative
and concurrent and shall be in addition to any other right, power and remedy
given hereunder or now or hereafter existing at law or in equity or by statute.
Every power or remedy given by this Note to the holder hereof or to which such
holder may be entitled may be exercised from time to time and as often as may be
deemed expedient by such holder, and such holder may pursue inconsistent
remedies.

            (d) This Note shall be governed by and construed in accordance with
the internal laws of the State of California without regard to principles of
conflicts of laws, except to the extent preempted by United States federal law.

            (e) Time is hereby declared to be of the essence of this Note and of
every part hereof. When the context and construction so require, all words used
in the singular herein shall be deemed to have been used in the plural and the
masculine shall include the feminine and the neuter and vice versa. Titles and
sections are for convenience only and neither limit nor amplify the provisions
of this Note, and all references herein to sections or paragraphs shall refer to
the corresponding sections or paragraphs of this Note unless specific reference
is made to such sections or paragraphs of another document or instrument.

            (f) If any provision of this Note or the application thereof to any
person or circumstance shall be invalid or unenforceable to any extent, the
remainder of this Note and the application of such provision to other persons or
circumstances shall not be affected thereby and shall be enforced to the maximum
extent permitted by law.

            (g) Any and all notices required by this Note shall be personally
delivered or sent by certified mail, return receipt requested, or sent by
machine confirmed facsimile transmission, addressed to a party at its address
set forth below, or at such other address as it may designate to the other party
in accordance with this paragraph. A notice shall be deemed effective

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when delivered if personally delivered, four (4) business days following mailing
if sent by certified mail, return receipt requested, and upon machine
confirmation of transmission when sent by facsimile.

      If to Borrower:                          If to Lender:

      Michael L. Robertson                     MP3.com, Inc.
      c/o MP3.com, Inc.                        4790 Eastgate Mall
      4790 Eastgate Mall                       San Diego, California 92121-1970
      San Diego, California 92121-1970         Attn: Chief Financial Officer
      Telephone: (858) 623-7000                Telephone: (858) 623-7000
      Facsimile: (858) 623-7003                Facsimile: (858) 623-7010
      with a copy to:                          with a copy to:

      ___________________                      Scott N. Wolfe, Esq.
      ___________________                      Latham & Watkins
      ___________________                      12636 High Bluff Drive, Suite 300
      ___________________                      San Diego, California 92130
      Telephone: (___) ____________            Telephone: (858) 523-5400
      Facsimile: (___) ____________            Facsimile: (858) 523-5450

The parties hereto may change their addresses by giving notice thereof to the
other parties hereto in conformity with this section.

            (h) This Note may not be assigned by Borrower without the prior
written consent of the holder hereof. On or prior to the Demand Date, this Note
may not be assigned by Lender without the prior written consent of Borrower,
except that Lender may assign this Note to any affiliate of Lender without the
consent of Borrower. This Note shall be freely assignable by Lender without the
consent of Borrower (i) after the Demand Date, or (ii) upon the occurrence of
and during the continuation of an Event of Default. Subject to the foregoing
restriction, this Note shall inure to the benefit of the holder hereof, its
successors, assigns and representatives and shall bind Borrower, its successors,
assigns and representatives. This Note may not be modified, amended or
terminated except by a written agreement signed by Borrower and the holder
hereof.

            (i) No offset or claim that Borrower now or may in the future have
against the holder of this Note shall relieve Borrower from paying any amounts
owing hereunder.

            [The Remainder of this Page is Intentionally Left Blank]

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        IN WITNESS WHEREOF, Borrower has executed and delivered this Secured
Promissory Note effective as of the date first written above.

                                            "Borrower"

                                            Michael L. Robertson

                                               /s/ Michael L. Robertson
                                            ------------------------------------

                    Signature Page to Secured Promissory Note
                       executed in favor of MP3.com, Inc.
                               dated April 2, 2001

                                       6<PAGE>   1
                                                                   Exhibit 10.37

                          PLEDGE AND SECURITY AGREEMENT

        This Pledge and Security Agreement (the "Agreement") is made and entered
into effective as of April 2, 2001, by and between Michael L. Robertson
("Borrower"), on the one hand, and MP3.com, Inc., a Delaware corporation
("Lender" or the "Company"), on the other, pursuant to that certain Secured
Promissory Note of even date herewith executed by Borrower in favor of Lender
(the "Note"). This Agreement, the Note, the Escrow Agreement (as defined below)
and all other documents and instruments executed in connection herewith or
therewith, are collectively referred to as the "Loan Documents."

        IN CONSIDERATION of Lender's agreement to make the loan pursuant to the
Note, and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Borrower agrees as follows:

        1. Pledge of Stock and Creation of Security Interest. To secure the
timely payment and performance of the Secured Obligations (as defined below),
Borrower hereby collaterally assigns and pledges to Lender, and grants to Lender
a security interest in, all the right, title and interest of Borrower, now owned
or hereafter acquired, in, to and under the collateral described in Section 2
herein below, and the proceeds thereof (the "Collateral"). The Collateral shall
be held in escrow pursuant to the terms of an Escrow Agreement between Borrower,
Lender and the Escrow Agent named therein (the "Escrow Agent") of even date
herewith (the "Escrow Agreement") until such time as all amounts due under the
Loan Documents have been paid in full.

        2. Collateral. The Collateral shall consist of all unencumbered shares
of Common Stock of the Company held by Borrower, which amount shall be no fewer
than 19.7 million shares of Common Stock of the Company. If, following the date
hereof, there occurs any stock dividend, stock split, recapitalization or other
change affecting the Common Stock of the Company as a class effected without
receipt of consideration, any new, substituted or additional securities or other
property that is by reason of such transaction distributed with respect to
Common Stock of the Company that comprises the Collateral shall be immediately
delivered by Borrower to Lender to be held as Collateral. If, following the date
hereof, there occurs any dividend, distribution, merger, consolidation, share
exchange or reorganization affecting the Common Stock of the Company, then any
new, substituted or additional securities or other property (including money
paid as a regular cash dividend) that is by reason of such transaction
distributed with respect to the Collateral shall be immediately delivered by
Borrower to Lender to be held as Collateral. In the event any cash is deposited
as part of the Collateral pursuant hereto, the parties will make appropriate
amendments to this Agreement to include investment provisions and controls for
such cash.

        Notwithstanding the foregoing, and notwithstanding any partial payments
of principal or interest by Borrower, at no time prior to the repayment in full
of all amounts due under the Loan Documents shall any Collateral, or any part
thereof, be released or returned to Borrower.

        The Borrower shall deliver the Collateral to Lender by delivering the
Collateral, together with stock powers executed in blank, to the Escrow Agent at
MP3.com, Inc. 4790 Eastgate Mall, San Diego, CA 92121-1970 Attn. Secretary, or
to such other person or address as shall be designated by the Chief Financial
Officer of the Company in writing.
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        3. Secured Obligations of Borrower. The Collateral secures and shall
hereafter secure (i) the payment by Borrower to Lender of all indebtedness now
or hereafter owed pursuant to the Loan Documents to Lender by Borrower,
including, without limitation, the loan made to Borrower pursuant to the Note,
together with any interest thereon and extensions, modifications and renewals
thereof, (ii) the payment by Borrower, or reimbursement to Lender, of all fees,
costs or expenses to be paid, incurred or borne by Borrower pursuant to any of
the Loan Documents, and (iii) the performance by Borrower of all other
obligations and the discharge of all other liabilities to Lender of every kind
and character, direct or indirect, absolute or contingent, due or to become due,
now existing or hereafter arising under this Agreement or any of the other Loan
Documents (the foregoing are collectively referred to as the "Secured
Obligations"). All payments and performance shall be in accordance with the
terms of the Loan Documents. Borrower shall reimburse Lender on demand for any
and all amounts expended by Lender in accordance with, or in the enforcement
(judicially or otherwise) or exercise of its rights under, the terms of this
Agreement, including attorneys' fees, which amounts are included in the Secured
Obligations secured hereunder.

        4. Borrower's Representations and Warranties. Borrower represents and
warrants that:

            (a) Borrower is (or to the extent that this Agreement states that
the Collateral is to be acquired after the date hereof, will be) the sole owner
of the Collateral; upon delivery of the Collateral to Lender the security
interest hereunder in the Collateral will be a first, prior and perfected
security interest; there are no security interests, liens or encumbrances, or
adverse claims of title to, community property interests in, or any other
interest whatsoever in, the Collateral or any portion thereof except that
created by this Agreement; and no financing statement, mortgage or deed of trust
covering the Collateral or any portion thereof exists or is on file in any
public office; and

            (b) Borrower has the full power and authority to pledge, transfer
and assign the Collateral to Lender, and such pledge, transfer and assignment to
Lender will not violate any federal or state law, rule or regulation, including
without limitation federal or state securities laws; and

            (c) No part of the Collateral is subject to a risk of forfeiture or
vesting provisions applicable to Borrower pursuant to the terms of the
instrument pursuant to which Borrower acquired the Collateral; and

            (d) Neither the execution and delivery of this Agreement by Borrower
nor the consummation of the transactions herein contemplated nor the fulfillment
of the terms hereof will result in a breach of any of the terms or provisions
of, or constitute a default under, or constitute an event which with notice or
lapse of time or both will result in a breach of or constitute a default under,
any material agreement, indenture, mortgage, deed of trust, equipment lease or
other instrument to which Borrower is a party, or conflict with any law, order,
rule or regulation applicable to Borrower of any court or any federal or state
government, regulatory body or administrative agency, or any other governmental
body having jurisdiction over Borrower or Borrower's properties.

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        5. Covenants of Borrower. Borrower covenants that:

            (a) Borrower will defend the Collateral against all claims and
demands of all third parties at any time claiming the same or any interest
therein;

            (b) Borrower will, promptly upon request by Lender, procure or
execute and deliver any document, give any notices, execute and file any
financing statements, mortgages or other documents, all in form and substance
satisfactory to Lender, mark any chattel paper, deliver any chattel paper or
instruments to Lender and take any other actions which are necessary or, in the
judgment of Lender, desirable to perfect or continue the perfection and first
priority of Lender's security interest in the Collateral, to protect the
Collateral against the rights, claims, or interests of third persons or to
effect the purposes of this Agreement, and will pay all costs incurred in
connection therewith;

            (c) Borrower will not, without the prior written consent of Lender,
in any way hypothecate or create or permit to exist any lien, security interest
or encumbrance on or other interest in the Collateral except that created by
this Agreement, nor will Borrower sell, transfer, assign, exchange or otherwise
dispose of the Collateral or any option with respect thereto. If the Collateral,
or any part thereof, is sold, transferred, assigned, exchanged, or otherwise
disposed of in violation of these provisions, the security interest of Lender
shall continue in such Collateral or part thereof notwithstanding such sale,
transfer, assignment, exchange or other disposition, and Borrower will hold the
proceeds thereof in a separate account for Lender's benefit. Borrower will, at
Lender's request, transfer such proceeds to Lender in kind;

            (d) Borrower will pay and discharge all taxes, assessments and
governmental charges or levies against the Collateral prior to delinquency
thereof and will keep the Collateral free of all unpaid charges whatsoever; and

            (e) Lender shall have the right to make any payments and do any
other acts Lender may deem necessary to protect its security interest in the
Collateral, including, without limitation, the rights to pay, purchase, contest
or compromise any encumbrance, charge or lien which in the judgment of Lender
appears to be prior to or superior to the security interest granted hereunder,
and appear in and defend any action or proceeding purporting to affect its
security interest in and/or the value of the Collateral, and in exercising any
such powers or authority, the right to pay all expenses incurred in connection
therewith, including attorneys' fees. Borrower hereby agrees to reimburse Lender
for all payments made and expenses incurred, which amounts shall be secured
under this Agreement, and agrees it shall be bound by any payment made or act
taken by Lender hereunder. Lender shall have no obligation to make any of the
foregoing payments or perform any of the foregoing acts.

        6. Defaults and Remedies. Upon the occurrence and during the
continuation of an Event of Default (as described and defined in the Note),
Lender may, at its option, without notice to or demand upon Borrower, do any one
or more of the following:

               (a) Declare all advances made by Lender to Borrower under the
        Note and all other Secured Obligations to be immediately due and
        payable, whereupon all unpaid principal and interest on all advances and
        other Secured Obligations shall become and be immediately due and
        payable;

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               (b) Exercise any or all of the rights and remedies provided for
        by the applicable Uniform Commercial Code, specifically including,
        without limitation, the right to recover the attorneys' fees and other
        expenses incurred by Lender in the enforcement of this Agreement or in
        connection with Borrower's redemption of the Collateral;

               (c) Sell all or any portion of the Collateral in any commercially
        reasonable manner in any one or more public or private sales, at the
        sole discretion of Lender, or proceed by an action or actions at law or
        in equity to recover the Secured Obligations. Borrower agrees that any
        sale of all or any portion of the Collateral in the public market, in
        compliance with applicable federal and state securities laws and
        regulations, shall be conclusively presumed to be commercially
        reasonable. Lender shall also have the right and option to purchase all
        or any portion of the Collateral from Borrower at a price equal to the
        "Fair Market Value" of such Collateral. The "Fair Market Value" per
        share of Common Stock of the Company shall be equal to the average of
        the closing price per share of Common Stock of the Company as reported
        by The Nasdaq Stock Market's National Market System or such other
        securities exchange, market or quotation system on which Common Stock of
        the Company is then listed for trading or quoted on each of the ten (10)
        trading days prior to the date of purchase. Any consideration owed to
        Borrower for any such purchase shall be first offset against the Secured
        Obligations, with any excess consideration to be paid in cash to
        Borrower; and

               (d) Enforce one or more remedies hereunder, successively or
        concurrently, and such action shall not operate to estop or prevent
        Lender from pursuing any other or further remedy which it may have, and
        any repossession or retaking or sale of the Collateral pursuant to the
        terms hereof shall not operate to release Borrower until full and final
        payment of any deficiency has been made in cash. Borrower shall
        reimburse Lender upon demand for, or Lender may apply any proceeds of
        Collateral to, the costs and expenses (including attorneys' fees,
        transfer taxes and any other charges) incurred by Lender in connection
        with any sale, disposition or retention of any Collateral hereunder.

        7. Miscellaneous Provisions.

            (a) Notices. Any and all notices required by this Agreement shall be
delivered or sent in the manner and to the addresses set forth in the Note.

            (b) Headings. The various headings in this Agreement are inserted
for convenience only and shall not affect the meaning or interpretation of this
Agreement or any provision hereof.

            (c) Governing Law. This Agreement shall be construed in accordance
with and all disputes hereunder shall be governed by the internal laws of the
State of California without regard to principles of conflicts of laws.

            (d) No Waiver; Amendments. No delay in enforcing or failure to
enforce any right under this Agreement by Lender shall constitute a waiver by
Lender of such right. No waiver by Lender of any default hereunder shall be
effective unless in writing, nor shall any waiver operate as a waiver of any
other default or of the same default on a future occasion. This

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Agreement or any provision hereof may be changed, waived or terminated only by a
statement in writing signed by the party against which such change, waiver or
termination is sought to be enforced.

            (e) Time of the Essence. Time is of the essence of each provision of
this Agreement of which time is an element.

            (f) Binding Agreement. All rights of Lender hereunder shall inure to
the benefit of its successors and assigns. Borrower shall not assign any of its
interest under this Agreement without the prior written consent of Lender. Any
purported assignment inconsistent with this provision shall, at the option of
Lender, be null and void.

            (g) Entire Agreement. This Agreement, together with the Note and any
other agreement executed in connection herewith, is intended by the parties as a
final expression of their agreement and is intended as a complete and exclusive
statement of the terms and conditions thereof.

            (h) Attorneys' Fees. In any action or proceeding brought to enforce
any provision of this Agreement, or to seek damages for a breach of any
provision hereof, the successful party shall be entitled to recover reasonable
attorneys' fees in addition to any other available remedy.

            (i) Severability. If any provision of this Agreement should be found
to be invalid or unenforceable, all of the other provisions shall nonetheless
remain in full force and effect to the maximum extent permitted by law.

            (j) Survival of Provisions. All representations, warranties and
covenants of Borrower contained herein shall survive the execution and delivery
of this Agreement, and shall terminate only upon the full and final payment and
performance by Borrower of the Secured Obligations.

            (k) Setoff. Lender shall have the right, at any time, to set off any
indebtedness or obligation of Borrower under the Loan Documents against any
indebtedness or obligation of Lender, without notice to or demand upon Borrower
and whether or not any such indebtedness or obligations are liquidated or mature
at the time of such offset. Lender's right of offset hereunder shall be in
addition to and not in limitation of any other rights or remedies which may
exist in favor of Lender.

            (l) Power of Attorney. Borrower hereby appoints and constitutes
Lender as Borrower's attorney-in-fact, effective upon the occurrence of and
during the continuation of an Event of Default (as defined in the Note), for
purposes of (i) collecting accounts or proceeds of any Collateral, (ii)
conveying any item of Collateral to any purchaser thereof, and (iii) making any
payments or taking any acts under Section 5(e) hereof. Lender's authority
hereunder shall include, without limitation, the authority to endorse and
negotiate, for Lender's own account, any checks or instruments in the name of
Borrower, to execute any receipt for any certificate of ownership or any
document, to transfer title to any item of Collateral, and to take any other
actions necessary or incident to the powers granted to Lender in this Agreement.
This power of attorney is coupled with an interest and is irrevocable by
Borrower until full and final payment of all of the Secured Obligations.

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            (m) Authority of Lender. Lender shall have and be entitled to
exercise all powers hereunder which are specifically delegated to Lender by the
terms hereof, together with such powers as are reasonably incident thereto.
Lender may perform any of its duties hereunder or in connection with the
Collateral by or through agents or employees and shall be entitled to retain
counsel and to act in reliance upon the advice of counsel concerning all such
matters. Neither Lender nor any director, officer, employee, attorney or agent
of Lender shall be liable to Borrower for any action taken or omitted to be
taken by it or them hereunder, except for its or their own willful misconduct;
nor shall Lender be responsible for the validity, effectiveness or sufficiency
hereof or of any document or security furnished pursuant hereto. Lender and they
shall be entitled to rely on any communication, instrument or document believed
by it or them to be genuine and correct and to have been signed or sent by the
proper person or persons. Borrower agrees to indemnify and hold harmless Lender
and/or any such other person from and against any and all costs, expenses
(including attorneys' fees), claims or liability incurred by Lender or such
person hereunder, unless such claim or liability shall be due to willful
misconduct on the part of Lender or such person.

            (n) Statute of Limitations. Borrower hereby waives the right to
plead any statute of limitations as a defense to any obligation hereunder or any
of the Secured Obligations to the full extent permitted by law.

            (o) Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which shall
together constitute one and the same agreement.

            (p) Termination of the Agreement. This Agreement shall terminate
upon full and final payment and performance of all of the Secured Obligations.
At such time, Lender shall reassign and redeliver to Borrower all of the
Collateral hereunder which has not been sold, disposed of, retained or applied
by Lender in accordance with the terms hereof. Such reassignment and redelivery
shall be without warranty by or recourse to Lender (provided that such
Collateral shall not be transferred or encumbered by Lender except as permitted
under the Loan Documents) and shall be at the sole expense of Borrower.

            [The Remainder of this Page is Intentionally Left Blank]

                                       6
<PAGE>   7

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

                                            "Borrower"

                                            Michael L. Robertson

                                               /s/ Michael L. Robertson
                                            ------------------------------------

                                            "Lender"

                                            MP3.com, Inc.

                                            By:    /s/ Paul L. H. Ouyang
                                                --------------------------------
                                            Name:  Paul L. H. Ouyang
                                                   -----------------------------
                                            Title: EVP, CFO
                                                   -----------------------------

                 Signature Page to Pledge and Security Agreement
                               dated April 2, 2001

                                       7

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