Document:

EMPLOYMENT AGREEMENT

     The parties to this agreement are Irwin Engelman, residing at 936 Fifth
Avenue, New York, N.Y. 10021 (the "Executive"), and YouthStream Media Networks,
Inc., a Delaware corporation with its principal office at 28 West 23rd Street,
6th Floor, New York, New York 10010 (the "Company").

     The parties have agreed upon the employment of the Executive as Executive
Vice President and Chief Financial Officer on the terms set forth in this
agreement.

     It is therefore agreed as follows:

     1. Employment.

     During the term of the Executive's employment under this agreement, the
Company shall employ the Executive, and the Executive shall serve the Company,
as the Company's Executive Vice President and Chief Financial Officer. The
Executive shall have all of the duties and responsibilities customarily
associated with the position of Executive Vice President and Chief Financial
Officer of a publicly held company, shall report to the Company's President and
Chief Executive Officer, and shall devote substantially all of his business time
to the performance of his duties under this agreement. The Executive shall be a
member of the Company's senior management team with such duties as the Company's
President and Chief Executive Officer from time to time may assign to him.

     2. Term of Employment.

     The effective term of the Executive's employment under this agreement shall
commence on October 27, 2000, and, subject to earlier termination upon the
Executive's death or disability or pursuant to section 5, shall continue until
the close of business on October 31, 2002.

     3. Compensation.

     3.1 Cash Compensation. As compensation for his services under this
agreement, the Executive shall be entitled to a salary at the rate of $250,000 a
year, payable in

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equal installments in accordance with the Company's customary payroll practices
for its management employees. The Company shall review the Executive's
performance annually (either prior to or within a reasonable period after the
end of each fiscal year) and, in its sole discretion, may grant the Executive a
bonus based on the Executive's performance and the Company's financial results
during that fiscal year.

     3.2 Stock Options. In connection with his services for the Company, on the
date of commencement of the Executive's employment (a) the Company shall grant
to the Executive, pursuant to the Company's 2000 Stock Incentive Plan, a
non-qualified stock option to purchase an aggregate of 300,000 shares of the
Company's Common Stock at the fair market value on the date of grant and (b) the
Company shall grant to the Executive an additional non-qualified option to
purchase an aggregate of 100,000 shares of the Company's Common Stock at the
fair market value on the date of grant. The terms of the options shall be set
forth in separate agreements between the Executive and the Company.

     3.3 Expenses. The Company shall reimburse the Executive for all reasonable
expenses incurred by the Executive in connection with the performance of his
duties, upon presentation of appropriate vouchers covering the expenses.

     3.4 Fringe Benefits. The Executive (and his immediate family) shall be
entitled to participate in all medical, dental, disability, life insurance and
other fringe benefits and executive perquisites generally provided to the
Company's senior executives.

     4. Disability or Death.

     4.1 Disability. If, as the result of any physical or mental disability, the
Executive shall fail or be unable to perform his duties for a total of 120 days
in any 12-month period, the Company may, by notice to the Executive, terminate
his employment under this agreement as of the date of the notice.

     4.2 Payments on Disability. If the Executive's employment is terminated
under section 4.1, the Executive shall be paid, in full discharge of all the
Company's obligations to the Executive, (a) the Executive's full salary under
section 3.1 until the date of termination, less the amount of any disability
payments received by him under any disability insurance coverage provided to him
and paid for by the Company, and (b) the amount of all expense reimbursements
due for periods prior to termination.

     4.3 Payments on Death. The Executive's employment under this agreement

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shall be terminated upon his death and the Executive's estate shall be paid, in
full discharge of all the Company's obligations to the Executive, (a) the
Executive's full salary under section 3 through the date of death and (b) the
amount of all expense reimbursements due for periods prior to death.

     5. Termination.

     5.1 Payments Upon Termination for Cause or Voluntary Termination. The
Company may terminate the Executive's employment under this agreement for cause
(as defined in section 5.3). If the Executive's employment under this agreement
is terminated for cause pursuant to this section 5.1 or by the Executive
voluntarily (other than for Good Reason, as defined in section 5.3), the Company
shall pay to the Executive, in full discharge of its obligations to the
Executive under this agreement, the accrued amount of the salary and benefits
due to him through the date of termination and the amount of all expense
reimbursements due to him for periods prior to termination.

     5.2 Payments Upon Termination for Other Reasons. If the Executive's
employment under this agreement is terminated by the Company prior to the
expiration of the term for any reason other than for cause or as a result of the
Executive's death or disability, or if the Executive's employment under this
agreement is terminated by the Executive for Good Reason, (a) all of the
Executive's stock options shall then become fully vested, (b) the Company shall
continue to pay to the Executive his full salary under section 3 for a period of
twelve months following the date of termination and shall pay to the Executive
any unpaid bonus previously authorized by the Company's board of directors, and
(c) the Company shall pay or reimburse the Executive for paying COBRA premiums
for a period of twelve months following the date of termination for the health
benefits (at the same level and cost as if the Executive was an employee of the
Company) of the Executive and his dependents, provided that they are eligible
and remain eligible for coverage under COBRA and timely elect such coverage.
None of the payments provided for in this section 5.2 shall be reduced by any
amounts earned or received by the Executive from any third party at any time.
Without limiting the generality of the foregoing, if the Executive's employment
under this agreement is terminated for any reason other than termination by the
Company for cause or termination by the Executive without Good Reason, the
Executive shall not have any obligation to mitigate damages.

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     5.3 Definitions. As used in this agreement:

     (a) the term "cause" shall be limited to mean (i) the conviction of the
Executive of a felony; (ii) the conviction of the Executive of a crime involving
any financial impropriety or that would materially interfere with the
Executive's ability to perform his services under this agreement or that
otherwise would be materially injurious to the Company; or (iii) the willful
breach by the Executive in a material respect of his obligations under this
agreement after ten days notice and an opportunity to cure; and

     (b) the term "Good Reason" shall be limited to mean the occurrence, without
the express written consent of the Executive, of any of the following
circumstances: (i) a material adverse alteration in the Executive's status in
the Company, in the nature of the Executive's responsibilities, or in the
material conditions of the Executive's employment, including an adverse change
in the Executive's title from Executive Vice President and Chief Financial
Officer or removal of the Executive from the position of Executive Vice
President and Chief Financial Officer to the Company or any surviving entity of
the Company following a merger or acquisition; (ii) the Company requiring that
the Executive be based at a location that is not the Company's principal office
or that is more than 50 miles from New York City, except for required travel on
the Company's business; and (iii) the Company's breach of any of its material
obligations under this agreement and the continuation of that breach for 10 days
after written notice by the Executive to the Company.

     5.4 Time of Payments After Termination. Any amounts payable to the
Executive or his estate after termination of his employment shall be paid
periodically in the same amounts and at the same intervals as they would have
been paid if the Executive's employment had not terminated.

     6. Confidential Information.

     The Executive shall not, directly or indirectly, either during his
employment by the Company or at any time thereafter, disclose to anyone or use
(except as authorized in the regular course of the Company's business) any
information acquired by him during his employment with respect to any of the
Company's trade secrets or other confidential information. For this purpose,
information generally known to the public shall not be considered a trade secret
or confidential information.

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     7. Non-Competition, etc

     7.1 Non-Competition. For a period of twelve months after the termination of
the Executive's employment under this agreement, the Executive shall not
directly or indirectly engage or be interested in any business or entity that
engages, anywhere in the world, in any business competitive with any material
segment of the business in which the Company and its subsidiaries are engaged at
the time of termination of the Executive's employment or with any business
activity that the Company or any subsidiary then has under active consideration.
The restriction provided for in the previous sentence shall apply regardless of
the reason for termination of the Executive's employment, except that it shall
not apply after termination of the Executive's employment if the Executive's
employment is terminated prior to the expiration of the two-year term due to the
Executive's termination of his employment for Good Reason or due to termination
by the Company without cause. For the purpose of this section 7.1, the Executive
shall be deemed to be directly or indirectly interested in a business or entity
if he is engaged or interested in that business or entity as a stockholder,
director, officer, employee, agent, partner, consultant or otherwise, but not if
his interest is limited solely to the passive ownership of 5% or less of any
class of the equity or debt securities of a corporation whose shares are
publicly traded.

     7.2 Non-Solicitation. The Executive shall not, for a period of 18 months
after termination of his employment (regardless of the reason for termination),
directly or indirectly employ or retain, solicit the employment or retention of,
or be associated with any entity that employs or retains or solicits the
employment or retention of, any person (other than his secretary) who was an
employee of the Company or any of its subsidiaries at any time during the twelve
months preceding the termination of the Executive's employment.

     7.3 Injunction. The Executive acknowledges that the remedy at law for
breach of the provisions of sections 7.1 or 7.2 will be inadequate and that, in
addition to any other remedy the Company may have, it shall be entitled to an
injunction restraining any breach or threatened breach, without any bond or
other security being required and without the necessity of showing actual
damages.

     8. Merger or Sale of Assets.

     If the Company shall merge or consolidate with another corporation or shall
transfer all or substantially all of its assets, this agreement shall be
assigned to the successor in the merger or consolidation or the transferee of
the assets, the Company shall cause the successor or transferee to assume all of
the Company's obligations under this agreement, and the Executive shall
thereafter be employed by the successor or transferee in accordance with the
terms of this agreement. The Company's failure to obtain such assumption prior
to the effectiveness of any

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such transaction shall be a breach of this agreement by the Company.

     9. Miscellaneous.

     9.1 Headings. The section headings of this agreement are for reference
purposes only and are to be given no effect in the construction or
interpretation of this agreement.

     9.2 Notices. All notices and other communications under this agreement
shall be in writing and shall be deemed given when delivered personally or
mailed by certified or registered mail, return receipt requested, to the parties
at their respective addresses set forth above (or to such other address as a
party may have specified by notice given to the other party pursuant to this
provision).

     9.3 Separability. The invalidity or unenforceability of any provision of
this agreement shall not affect the validity or enforceability of any other
provision of this agreement, which shall remain in full force and effect.

     9.4 Waiver. Either party may waive compliance by the other party with any
provision of this agreement. The failure of a party to insist on strict
adherence to any term of this agreement on any occasion shall not be considered
a waiver or deprive that party of the right thereafter to insist upon strict
adherence to that term or any other term of this agreement. No waiver of any
provision shall be construed as a waiver of any other provision. Any waiver must
be in writing.

     9.5 Assignment. Neither party may assign any of its rights or delegate any
of its duties under this agreement (other than as contemplated by section 8 of
this agreement) without the prior consent of the other and any assignment or
delegation in violation of this prohibition shall be void.

     9.6 Governing Law. This agreement shall be governed by and construed in
accordance with the law of the state of New York applicable to agreements made
and to be performed in New York.

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     9.7 Entire Agreement; No Oral Change. This agreement and the stock option
agreements referred to in section 3.2 contain, and are intended as, a complete
statement of all the terms of the arrangements between the parties, supersede
any previous agreements and understandings between the parties, and cannot be
changed or terminated orally.

                                   YOUTHSTREAM MEDIA NETWORKS, INC.

                                   By: /s/ JAMES G. LUCCHESI
                                      ------------------------------------------
                                           James G. Lucchesi
                                           President and Chief Financial Officer

AGREED:

/s/ IRWIN ENGELMAN
---------------------------
    Irwin Engelman

Date: 10/30/00
     ----------------------
                                       7YOUTHSTREAM MEDIA NETWORKS, INC.

                      NON-QUALIFIED STOCK OPTION AGREEMENT

     Youthstream Media Networks, Inc., a Delaware corporation with its principal
office at 28 West 23rd Street, 6th Floor, New York, N.Y. 10010 (the "Company"),
hereby grants to Irwin Engelman, residing at 936 Fifth Avenue, New York, N.Y.
10021 (the "Executive"), pursuant to the employment agreement effective October
27, 2000 between the Company and the Executive (the "Employment Agreement"), an
option to purchase up to 100,000 shares of the Company's common stock, par value
$.01 per share, at the price of $1.875 per share, on the terms and conditions
set forth in this agreement.

     The Company and the Executive intend this not to be an incentive stock
option within the meaning of section 422 of the Internal Revenue Code.

     1. Vesting

     (a) This option shall become exercisable (i.e., shall vest) in quarterly
installments of 12,500 shares per installment commencing on the first day of
each of February, May, August, and November, beginning February 1, 2001, except
that the last installment shall vest on October 31, 2002; provided that the
Executive is employed by the Company or any Affiliate on that date. To the
extent this option is not vested at the time of termination of the Executive's
employment by the Company and its Affiliates, upon termination of the
Executive's employment the option shall be non-exercisable and shall be
canceled. There shall be no proportionate or partial vesting in the periods
prior to each vesting date and all vesting shall occur only on the appropriate
vesting date. This option shall expire on, and may not be exercised after,
October 26, 2010 ("Termination Date").

     (b) Notwithstanding the provisions of section 1(a), if the Executive's
employment is terminated by the Company prior to October 31, 2002 for any reason
other than for cause or as a result of the Executive's death or disability, or
if the Executive's employment is terminated by him prior to October 31, 2002 for
Good Reason (the terms "cause" and "Good Reason" being defined in the Employment
Agreement), the option shall be deemed fully vested as of the effective date of
termination and may be exercised on and after that date (until expiration of the
time for exercise of the option as provided in section 2(a)) for all of the
100,000 shares subject to the option.

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     2. Exercise.

     (a) This option shall be exercisable (to the extent vested) during the
continuance of the Executive's employment and shall be exercisable after
termination of the Executive's employment only as follows:

          (i) if the Executive's employment by the Company and its Affiliates
     terminates by reason of his disability, this option may be exercised by
     him, to the extent that it was exercisable at the date of termination of
     employment, within one year after the date of termination of employment,
     but not later than the Termination Date;

          (ii) if the Executive dies during his employment, this option may be
     exercised (by the person or persons to whom his rights under this option
     pass by his will or by the laws of descent and distribution) at any time
     within one year after the date of his death, but not later than the
     Termination Date, for that number of shares that the Executive was entitled
     to purchase at the time of his death;

          (iii) if the Executive's employment by the Company and its Affiliates
     is terminated by the Company without cause or is terminated by the
     Executive for Good Reason, this option may be exercised by him, to the
     extent that it was exercisable at the date of termination of employment,
     within ninety days after the date of termination of employment or within
     two years after this date, whichever is later, but not later than the
     Termination Date;

          (iv) if the Executive's employment by the Company and its Affiliates
     is voluntarily terminated by the Executive other than for Good Reason this
     option may be exercised by him, to the extent that it was exercisable at
     the date of termination of employment, within thirty days after the date of
     termination of employment, but not later than the Termination Date; and

          (v) if the Executive's employment is terminated by the Company for
     cause, this option and all rights under it, to the extent those rights have
     not been exercised, shall thereupon terminate. The determination by the
     Company's board of directors of the reason for termination of the
     Executive's employment shall be binding and conclusive on the Executive,
     provided that the board acts unanimously (excluding the Executive if he is
     then on the board) and in good faith.

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<PAGE>

     (b) This option may be exercised, in whole or in part, at any time or from
time to time prior to expiration of the time for exercise of the option as
provided in section 2(a). If a registration statement under the Securities Act
of 1933 is not then in effect with respect to the shares subject to this option,
upon exercise of the option the Executive must furnish the Company with such
representations and agreements as the Company may require to prevent disposition
of the shares in violation of the Securities Act of 1933; in that event, the
Company may place upon any stock certificate an appropriate legend referring to
the restriction on disposition under the Securities Act of 1933.

     3. Method of Exercise. Subject to the provisions of sections 1 and 2 above,
this option may be exercised by written notice to the Company specifying the
number of shares as to which the option is exercised. Each such notice shall be
accompanied by payment in full of the purchase price for the shares to be
purchased, as follows: (i) by check, bank draft or money order payable to the
order of the Company; (ii) if the Company's common stock is then traded on a
national securities exchange, the Nasdaq Stock Market, Inc. or quoted on a
national quotation system sponsored by the National Association of Securities
Dealers, through a "cashless exercise" procedure whereby the Executive delivers
irrevocable instructions to a broker to deliver promptly to the Company an
amount equal to the purchase price; or (iii) on such other terms and conditions
as may be acceptable to the Company (including, but not limited to, the
relinquishment of stock options or by payment in full or in part in the form of
the Company's common stock owned by the Executive for a period of at least six
months (and for which the Executive has good title free and clear of any liens
and encumbrances) based on the fair market value of the Company's common stock
on the payment date as determined by the Company). No shares of the Company's
common stock shall be issued until payment has been made or provided for in
accordance with this provision.

     4. Restriction on Transfer of Option. Except as otherwise provided below,
this option may not be transferred other than by will or by the laws of descent
and distribution and, during the lifetime of the Executive, may be exercised
only by him. In addition, this option may not be assigned, negotiated, pledged
or hypothecated in any way and shall not be subject to execution, attachment or
similar process. Upon any attempt to transfer, assign, negotiate, pledge or
hypothecate the option or in the event of any levy upon the option by reason of
any execution, attachment or similar process contrary to the provisions of this
option agreement, the option shall immediately become null and void.

     5. Changes in Common Stock.

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<PAGE>

     (a) The existence of this option shall not affect in any way the right or
power of the Company's board of directors or stockholders to make or authorize
any adjustment, recapitalization, reorganization or other change in the
Company's capital structure or its business, any merger or consolidation of the
Company or any Affiliate, any issue of bonds, debentures, preferred or prior
preference stock ahead of or affecting the Company's common stock or this
option, the dissolution or liquidation of the Company or any Affiliate, any sale
or transfer of all or part of the assets or business of the Company or any
Affiliate, or any other corporate act or proceeding.

     (b) Subject to the provisions of section 5(d), if there is any change in
the capital structure or business of the Company by reason of any stock split,
reverse stock split, stock dividend, combination or reclassification of shares,
recapitalization or otherwise, merger, consolidation, spin-off, reorganization,
partial or complete liquidation, issuance of rights or warrants to purchase any
common stock or securities convertible into common stock, or any other corporate
transaction or event having a similar effect and effected without receipt of
consideration by the Company, the number and kind of shares or other property to
be issued upon exercise of this option and the purchase price shall be
appropriately adjusted consistent with such change in such manner as the
Company's board of directors may deem equitable to prevent substantial dilution
or enlargement of the Executive's rights under this agreement, and any such
adjustment determined by the board in good faith shall be final, binding and
conclusive on the Company and the Executive. The Company promptly shall notify
the Executive of any adjustment under this section 5.

     (c) Fractional shares of the Company's common stock resulting from any
adjustment pursuant to Section 5(a) shall be aggregated until, and eliminated
at, the time of exercise by rounding-down for fractions less than one-half and
rounding-up for fractions equal to or greater than one-half. No cash settlements
shall be made with respect to fractional shares eliminated by rounding.

     (d) In the event of a merger or consolidation in which the Company is not
the surviving entity or in the event of any transaction that results in the
acquisition of substantially all of the Company's outstanding common stock by a
single person or entity or by a group of persons or entities acting in concert,
or in the event of the sale or transfer of all or substantially all of the
Company's assets ("Acquisition Events"), the Company's board of directors may,
in its sole discretion, terminate this option, effective as of the date of the
Acquisition Event, by delivering notice of termination to the Executive at least
30 days prior to the date of consummation of the Acquisition Event; in that
event, during the period from the date on which such notice of termination is
delivered to the consummation of the Acquisition Event, the Executive shall have
the right to exercise this option for all of the shares then subject to the
option (without regard to any limitations on exercisability otherwise contained
in this

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agreement), but any such exercise shall be contingent upon and subject to the
occurrence of the Acquisition Event and, if for any reason the Acquisition Event
does not take place within a specified period after notice of the Acquisition
Event, any exercise of this option pursuant to that notice shall be void. If an
Acquisition Event occurs but the Company's board of directors does not terminate
this option pursuant to this section 5(d), the provisions of section 5(b) shall
apply.

     6. Administration. This agreement shall be administered and interpreted by
the Company's board of directors. The determinations of the board with respect
to any matter relating to this agreement shall be final, conclusive and binding
on the Company and on the Executive and their respective executors,
administrators, successors and assigns.

     7. Certain Rights Not Conferred by Option.

     (a) Nothing in this agreement shall (i) give the Executive any right to
continue in the employ of the Company or any Affiliate or interfere in any way
with the right of the Company or any Affiliate to terminate the Executive's
employment at any time, (ii) limit the right of the Company's board of directors
to manage the Company's business and affairs (including the authorization of the
issuance of additional shares and the determination of the nature and amount of
liabilities and obligations incurred by the Company or its Affiliates) without
regard for the effect of any action upon the Executive or upon the value of the
shares subject to, or acquired upon exercise of, this option, or (iii) give the
Executive any claim against the Company or any of its officers or directors with
respect to any action or omission relating to the Company's business or affairs,
whether or not that action or omission affects the value of the shares subject
to, or acquired upon exercise of, this option.

     (b) The Executive shall not, by virtue of holding this option, be entitled
to any rights of a stockholder in the Company. The Executive shall not be
considered a record holder of any shares purchased upon exercise of the option
until the date on which he is actually recorded as a holder of the shares upon
the Company's stock records.

     8. Expenses. The Company shall pay all fees and expenses necessarily
incurred by the Company in connection with the issuance of the Company's shares
pursuant to this option. If the Company shall be required to withhold any
amounts by reason of any federal, state or local tax rules or regulations in
respect of the issuance of shares pursuant to the exercise of this option, the
Executive shall make available to the Company sufficient funds to meet the
withholding requirements and the Company shall

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be entitled to take and authorize any steps it deems advisable in order to have
those funds made available to the Company out of any funds or property due or to
become due to the Executive.

     9. Notices. Any notice or other communication under this agreement shall be
in writing and shall be considered given when delivered personally or three days
after being mailed by registered mail, return receipt requested, to the parties
at their respective addresses set forth above (or at such address as a party may
specify by notice to the other). Any notice to the Company shall be addressed to
the attention of the Company's President.

     10. Complete Agreement; Governing Law; Amendment. This agreement contains a
complete statement of all of the arrangements between the parties with respect
to the option provided for in this agreement. This agreement shall be governed
by and construed in accordance with the law of the State of New York applicable
to agreements made and to be performed in New York and cannot be changed or
terminated orally. To the extent possible, the parties to this agreement intend
that the agreement should be interpreted consistently with the terms and
conditions of the Company's 2000 Stock Incentive Plan.

     11. Definition of "Affiliate." As used in this agreement, the term
"Affiliate" means each of the following: (i) any subsidiary corporation within
the meaning of section 424(f) of the Internal Revenue Code of 1986; (ii) any
parent corporation within the meaning of section 424(f) of the Internal Revenue
Code of 1986; (iii) any corporation, trade or business (including, but not
limited to, a partnership or limited liability company) that is directly or
indirectly controlled 50% or more (whether by ownership of stock, assets or an
equivalent ownership interest or voting interest) by the Company or one of its
Affiliates; and (iv) any other entity in which the Company or any of its
Affiliates has a material equity interest and that is designated as an
"Affiliate" by the Company's board of directors.

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<PAGE>

     12. Headings. The headings in this agreement are solely for convenience of
reference and shall not affect its interpretation.

                               Youthstream Media Networks, Inc.

                               By: /s/ JAMES G. LUCCHESI
                                  ------------------------------------------
                                       James G. Lucchesi
                                       President and Chief Executive Officer

AGREED:

/s/ IRWIN ENGELMAN
-------------------
    Irwin Engelman

Date:  10/30/00
     --------------

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