(EXHIBIT 10.41)
[NEW LINE CINEMA LETTERHEAD]
VIA FAX
310/000-0000
December 5, 1995
Xxxxxxx Xxxxx
Xxxxxxx Xxxxx
RE: XXXXX/TERM SHEET AGREEMENT
Dear Xxxxxxx:
Xxx Xxxxxx asked me to provide you with a summary of the applicable terms of the
New Line/Savoy deal as relates to Xxxxxxx Xxxxx and "Pinocchio". These are as
follows:
1. PRODUCTION/POST-PRODUCTION. In connection with production and post-
production of "Pinocchio", New Line and Savoy share all of Savoy's creative,
business, administrative and other controls, with New Line having the right to
break any deadlock. New Line has the right to take any reasonable actions it
deems necessary on Savoy's behalf if Xxxxx fails to cooperate as reasonably
required by New Line after reasonable notice thereof. New Line has the right to
exercise all of Savoy's cutting rights with respect to "Pinocchio", including
final cutting rights.
2. EXERCISE OF DISTRIBUTION RIGHTS. New Line has been granted all of Savoy's
distribution rights in "Pinocchio" (including ancillary rights). With respect
to those worldwide ancillary rights which Xxxxxxx Xxxxx and Xxxxx have agreed to
"coordinate" with Savoy having the last word, New Line has succeeded to these
rights. New Line has acknowledged that a number of licenses are already in
place, and New Line has agreed not to exploit its rights in contravention of
these licenses. I understand that Xxxxx Xxxxxx, our head of merchandising, has
been in touch with your merchandising department.
3. REMAKES/SEQUELS. New Line has been granted Xxxxx'x rights in
remakes/sequels to "Pinocchio".
4. SUMS PAYABLE TO SAVOY. To the extent that Xxxxxxx Xxxxx is to repay Savoy
for any advances made by Xxxxx to or on Xxxxxxx Xxxxx'x behalf, such sums, prior
to delivery to New Line, should be paid to Savoy. After delivery to New Line,
they should be paid to New Line.
Please feel free to call me with any questions. My phone number is 310/967-
6793.
Kind regards,
[Signature of Avy]
Xxx Xxxxxxxxx
Vice President
Business and Legal Affairs
AE:xx
XXXXX/Mark1205.02L
cc: Xxxxx Xxxxxx
Xxxxx Xxxxxx (by fax)
Xxxx Xxxxx (by fax)
Xxxxx Xxxxxxxx
Xxx Xxxxxx
