0001299933-07-005037 Sample Contracts

PUT/CALL AGREEMENT
Put/Call Agreement • August 21st, 2007 • Ion Media Networks Inc. • Radio broadcasting stations • New York

PUT/CALL AGREEMENT (this “Agreement”) made and entered into as of August 21, 2007 by and between ION Media Networks Inc., a Delaware corporation (the “Company”), CIG Media LLC, a Delaware liability company (“CIG”), and NBC Universal, Inc., a Delaware corporation (“NBCU”).

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2ND AMENDMENT TO MASTER AGREEMENT
Master Agreement • August 21st, 2007 • Ion Media Networks Inc. • Radio broadcasting stations • New York

Reference is hereby made to the Master Transaction Agreement, dated as of May 3, 2007, by and among ION Media Networks, Inc., a Delaware corporation (the “Company”), NBC Universal, Inc., a Delaware corporation (“NBCU”), NBC Palm Beach Investment I, Inc., a California corporation (“NBC Palm Beach I”), NBC Palm Beach Investment II, Inc., a California corporation (“NBC Palm Beach II” and, together with NBCU and NBC Palm Beach I, the “NBCU Entities”), and CIG Media LLC, a Delaware limited liability company (“CIG Media”), as amended by the Amendment to the Master Agreement dated June 8, 2007 (together, the “Master Agreement”). All capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Master Agreement.

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