July 14, 2005 John Simonelli Graymark Productions, Inc.
Exhibit 10.4
July 14, 2005
Xxxx Xxxxxxxxx
Graymark Productions, Inc.
000
Xxxxx Xxxxxxxx
Xxxxx 000
Xxxxxxxx Xxxx, XX 00000
Dear Xxxx:
Reference is made to that certain short-form agreement between Image Entertainment, Inc. (“Image”) and Graymark Productions, Inc. (“Graymark”), dated as of July 2005 (the “Agreement”). Although we have not yet executed a long-form agreement or decided upon a vehicle for the venture, please note that Image is prepared to accept and finance the film “The Xxxx” (the “Program”) pursuant to the Agreement, under the following terms and conditions:
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Total Budget: |
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Approximately Four Hundred Twenty Seven Thousand Seventy-Nine Dollars ($427,079). Image shall finance Two Hundred Thirteen Thousand Five Hundred Thirty-Nine Dollars and Fifty Cents ($213,539.50) of the total budget. Payment of the $213,539.50 shall be per the terms of the Agreement. |
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Profit Participation: |
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For this Program, Image’s back-end profit participation in all revenue streams under the Agreement shall be 35%. |
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Copyright Ownership: |
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For this Program, Image’s copyright ownership percentage shall be 35%. |
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All Other Terms: |
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As per the Agreement |
If the above meets with your approval, please have your client sign below. Thank you.
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Best regards, |
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Xxxxxx Xxxx Xxx, Esq. |
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Senior Vice President, Business Affairs & General Counsel |
THE ABOVE IS ACKNOWLEDGED AND AGREED.
GRAYMARK PRODUCTIONS, INC.
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By: Xxxx Xxxxxxxxx |
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Title: |
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