TERMINATION AGREEMENT
Exhibit 10.5
This termination agreement (“Termination Agreement”) terminating the Employment Agreement to
by and between Cinemark, Inc. (the “Company”) and Xxxxx Xxxxxxxx (“Xxxxxxxx”) (each, a “Party” and
together, the “Parties”) is dated June 16, 2008.
RECITALS
WHEREAS, the Company and Xxxxxxxx entered into that certain Employment Agreement dated March
12, 2004 (the “Employment Agreement”);
WHEREAS, Xxxxxxxx wishes to voluntarily resign from her position as an Executive Vice
President and Assistant Secretary of the Company and all of its parents and subsidiaries and
terminate the Employment Agreement with the Company;
WHEREAS, Xxxxxxxx and the Company deem it to be in the best interest of the Parties to
mutually terminate the Employment Agreement as of the date above written; and
NOW,
THEREFORE, in consideration of the premises and the mutual covenants and
obligations of the Parties contained herein, and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the Parties hereto agree as follows:
AGREEMENT
| 1. | Xxxxxxxx hereby resigns as an Executive Vice President and Assistant Secretary of the Company and all of its parents and subsidiaries. |
| 2. | Xxxxxxxx hereby and the Company hereby agree that the Employment Agreement is terminated as of the date hereof and Xxxxxxxx hereby agrees to relinquish any rights under the Employment Agreement. |
| 3. | Upon execution of this Termination Agreement, the Parties agree that the Employment Agreement has no further force or effect. |
[Signature Page Follows]
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed and
signed as of the day and year first above written.
| CINEMARK USA, INC. |
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| By: | /s/ Xxxxxxx Xxxxxxxx | |||
| Xxxxxxx Xxxxxxxx | ||||
| Senior Vice President-General Counsel | ||||
| XXXXX XXXXXXXX /s/ Xxxxx Xxxxxxxx |
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