AGREEMENT AS TO STUDIO INVESTMENT
AND
EXCLUSINVE RIGHT TO BROADCAST
This Agreement entered into this 12th day of April, 2000 between KINGDOM
VISION NETWORK, INC. a Colorado corporation, 000 Xxxx Xxxxxx Xxxx, Xxxxx
000, Xxxxx, Xxxxxxx 00000 (hereinafter "KVN" and XXXXX XXXX FOUNDATION
MINISTRIES, INC., a New York not-for-profit corporation, 0000 Xxxxxxxx
Xxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxxx, Xxxxxxxxx 00000 hereinafter
"XXXXX XXXX"). WITNESSETH:
WHEREAS, KVN is a television network providing spiritual and family
oriented programming; and
WHEREAS, XXXXX XXXX is a ministry which owns a property in the Eastern
Tennessee Smoky Mountain region which is used as a retreat and meeting
center for various ministries including Xxxx Xxxxx Ministries. Such
property has a large meeting hall with dormitory facilities and a
proposed site for a "Christian Congress" building; and
WHEREAS, KVN AND BETYH SHAN desire to bring about the broadcasting of
various ministry meetings to the audience of KVN as well as the full
coverage of the "Christian Congress" meetings.
NOW THEREFORE, as consideration for the mutual promises set forth
herein, it is agreed by and between KVN and XXXXX XXXX as follows:
1. Description of Building Upgrades. KVN, in order to more effectively
broadcast the various ministry meetings that will originate from the
meeting hall as well as programs KVN has contracted for with Xx. Xxxx
Xxxxx and other ministers, agrees to spend up to $500,000.00 to build a
studio and provide permanent broadcasting equipment to be housed at the
meeting hall. Such money shall be paid to XXXXX XXXX who shall contract
with its builders to build the studio and broadcast facility to KVN
specifications. It is anticipated that the first live broadcasts will
not begin until the summer of 2001.
2. Consideration. As consideration for the expenditure by KVN of the
monies necessary to provide a broadcast studio at the meeting hall,
XXXXX XXXX agrees that KVN is granted the exclusive right to use such
facilities and to broadcast any and all meetings held at the meeting
hall for a period of ten (10) years from the date of the first live
broadcast from the facilities including all "Christian Congress"
sessions.
KVN will begin its broadcast of meetings from the XXXXX XXXX facilities
with the 'Father/Son' meetings of the Xxxx Xxxxx Ministries on June 21-
23, 2001; August 2-4, 2001, September 20-22, 2001 and November 1-3,
2001.
3. Renewal of Exclusive Broadcast Rights. The exclusive broadcast
period may be extended at the option of KVN for an additional five (5)
year period if: (a) XXXXX XXXX is still a shareholder of KVN and (b) KVN
serves written notice of such extension on XXXXX XXXX at its address at
least sixty (60) days prior to the end of the initial exclusive
broadcast period. If XXXXX XXXX is no longer a shareholder in KVN, then
KVN must request an extension from XXXXX XXXX at least sixty (60) days
prior to the end of the initial exclusive broadcast period. Such
extension under the non shareholder situation rests solely in the
discretion of XXXXX XXXX.
4. Governing law. This Agreement shall be governed by the laws of the
State of Tennessee.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and
year first above mentioned.
KINGDOM VISION NETWORK, INC. XXXX XXXX FOUNDATIONAL
MINISTRIES, INC.
By: Xxxx X. Xxxxx, XX By: Xxxx X. Xxxxx
Executive Vice President President
