Exhibit 10.4
CONTRACT
THIS AGREEMENT IS ENTERED INTO AS OF THE 31ST OF DECEMBER, 2001.
between: ECLIPSE ENTERTAINMENT GROUP, INC., (hereafter "ECLE")
and: ANCIENT WARRIORS FILMS, LLC, (hereafter "AWF")
and: XXXXXX XXXXXXX, (hereafter "FC")
THE PARTIES ACKNOLEDGE AND AGREE AS FOLLOWS:
1. ECLE is the beneficial owner of 100% of the shares of stock of AWF.The
motion picture "Ancient Warriors"(hereafter the "Picture") itself will
be owned pursuant to paragraph 4 of this agreement.
2. ECLE acknowledges, confirms and agrees that FC is, and shall,
throughout the term of this agreement, be the sole Managing Member of
AWF, being the only signatory required on the AWF bank account, and
the Manager and Administrator of the business affairs of AWF, being
the management and administration of the promotion, marketing,
distribution and sales and as it relates to the Picture, and all
rights related thereto. This contract can not be amended without the
express written approval of FC.
3. FC and AWF will provide ECLE with quarterly financial reports of AWF
and the Picture.
4. The Picture will be completed with an anticipated budget of US$
3,040,000. The Picture is owned as follows:
ECLE 70%
FC 30%
5. ECLE and FC agree that the gross proceeds from sale and/or
distribution of the Picture shall be distributed proportionally,
unless otherwise determined by FC, Art Birzneck and Xxxxx Xxxxxx. For
accounting purposes all proceeds from the sale of the Picture will be
deposited into the AWF account and be distributed as follows:
*70% to all Investors, proportionally until repaid in full
*20% to the Distributor, Eclipse Releasing
*10% to AWF as administration fees, royalties and remaining
salaries, proportionally.
6. ECLE and FC agree that thereafter the gross proceeds from sale and/or
distribution of the Picture shall be distributed proportionally,
unless otherwise determined by FC, Art Birzneck and Xxxxx Xxxxxx:
*20% to the Distributor, Eclipse Releasing
*10% to AWF as administration fees, crew royalties and remaining
salaries, proportionally.
*10% to Xxxxxx Xxxxxxx (Producer's fee)
*10% to Art Birzneck (Executive Producer's fee)
*20% continuing royalty to specified Investors, proportionally to
their respective investments
*30% to ECLE
7. The Term of this agreement is from December 31, 2001, to December 31,
2008.
Executed as of the 31st day of December, 2001
ECLIPSE ENTERTAINMENT GROUP, INC.
By:
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Art Birzneck
ANCIENT WARRIORS FILMS, LLC
By:
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Xxxxxx Xxxxxxx
XXXXXX XXXXXXX
By:
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Xxxxxx Xxxxxxx
