Cinergi Pictures Entertainment Inc – ‘10-K’ for 12/31/96 – EX-10.55

As of:  Tuesday, 4/15/97   ·   For:  12/31/96   ·   Accession #:  912057-97-13165   ·   File #:  0-23958   ·   Correction:  This Filing’s “Filed as of” Date was Corrected and “Changed as of” 4/22/97 by the SEC on 4/22/97. ®

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         86    463K 
 2: EX-3.2      Bylaws                                                20    106K 
 3: EX-10.53    Ltr Agmt Dated 7/3/96 - Walt Disney Pic & Cpei         5     22K 
 4: EX-10.54    Ltr Agmt 4/1/95 - Buena Vista Intl & Cpnv             19     66K 
 5: EX-10.55    Agmt Dated 1/26/96 Bet Cpnv & Bvi Re Evita             2      8K 
 6: EX-21       Subsidiaries                                           1      7K 
 7: EX-23       Consent of Experts or Counsel                          1      6K 
 8: EX-27       Financial Data Schedule (Pre-XBRL)                     2      8K 

EX-10.55   —   Agmt Dated 1/26/96 Bet Cpnv & Bvi Re Evita

EX-10.55
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 DEAL MEMORANDUM

THIS AGREEMENT dated as of the 26 January 1996 between Cinergi Productions N.V. 
Inc. ("Cinergi") and Buena Vista Distribution International, Inc. ("BVI") is    
entered into between the parties relating to the distribution of the theatrical 
motion picture "Evita" ("the picture") in the Territory set forth below, as     
follows:                                                                        

1.   ADVANCE:   Three Million US Dollars (US$3,000,000) payable on a cash flow  
                basis.  BVI's advance will be covered by the completion bond and
            Five Hundred Thousand US Dollars (US$500,000) of the advance
           shall be crossed against any overages payable to Cinergi in
Latin America;                                  

2.   TERRITORY: Spain, Spanish speaking Andora, The Balaeric and Canary Islands;

3.   TERM:      Nineteen (19) years from delivery (plus right of first          
negotiation to extend the Term);                

4.   RIGHTS:    All theatrical, non-theatrical, home video (including DVD, near 
          VOD), ship, hotel/motel, pay TV, free TV, pay-per-view and
             video-on-demand rights.  Airline and all other rights will be
retained by Cinergi;                            

5.   BACK END TERMS:                                                            

 a.   THEATRICAL, NON-THEATRICAL: Twenty-five percent (25%) fee to Ptas.
    One Hundred Fifty Million film rental, Twenty-seven and one-half
     percent. (27.5%) fee from Ptas.  One Hundred Fifty Million to Two
        Hundred Fifty Million rental and thirty percent (30%) fee over Ptas.
   Two Hundred Fifty Million for any and all film rentals actually
received.                                                   

   b.   The "out of pocket" sub-distribution fees which BVI actually pays to
   Laurenfilm for Catalonia, shall be treated as an additional fee
hereunder.                                                  

    c.   VIDEO: Rental: 0-4,000 units -- Thirty percent (30%) royalty; 4,000 -
         6,000 units -Thirty-two and one-half percent (32.5%) royalty; 6,000 -
       8,000 units -- Thirty -five percent (35%) royalty and 8,000 + units
     --Forty percent (40%) royalty. The above is on prospective basis.
       Sell-through --We can accept a Fifteen percent (15%) royalty if the
          picture is first released on rental.  However, if BVI goes straight to
      sell-through, the royalty should be Seventeen and one-half percent
(17.5%).                                                    

d.   VIDEO-ON DEMAND: Thirty percent (30%) fee.                       

e.   TELEVISION: Twenty-five percent (25%) fee.                       

EX-10.55
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     Please acknowledge your acceptance of the terms and conditions of this deal
memorandum by signing in the space provided for below.                          

                    CINERGI PRODUCTIONS, N.V. INC.

             BY:/s/ Warren Braverman
                          ------------------------------
                  ITS:Executive Vice President
                           -----------------------------

APPROVED AND ACCEPTED BY:                                                       
BUENA VISTA DISTRIBUTION                                                        
INTERNATIONAL INC.                                                              

By:/s/ Jeffery S. Graup                                                         
------------------------------                                            
Its:Senior Vice President                                                       
-----------------------------