Things You’ll need to Jailbreak AppleTV on iOS 5.0.2
Download the latest version of SeasonPass from here.
Extract the archive you downloaded. Then double click the extracted application to launch it.
Seas0nPass will now download the latest Apple TV firmware file this will take approximately 5 minutes.
Once your custom IPSW file has been created, Seas0nPass will ask you to connect the Apple TV to your computer via a micro-USB cable and use the remote to put it into DFU mode by holding MENU and PLAY/PAUSE for 7 seconds. The power cable should be unplugged during this process. Tip: Connect the usb cable and press the buttons down at the exact same time.