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EXHIBIT 10.2
THE CANTON COMPANY
0000 Xxxxxx Xxxxxxxxx
Xxxxxxxx 00, Xxxx 000
Xxxxxxx, XX 00000
June 2, 2000
Xxxxx X. Xxxx DRAFT
Xxxx Xxx Media
00000 Xxxxxxx Xxxxxxxxx
Xxxxxx, XX 00000
Re: XXXX XXXXXX / "THE SEVENTH PORTAL" ("PICTURE")
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Dear Xxxxx:
This letter will confirm our understanding that in consideration for
both my and The Canton Company's (collectively, "Canton") continuing efforts to
secure financing and set up the Picture for development, financing and/or
production with a third party financier ("Third Party"), Canton shall have the
exclusive right commencing on the date hereof and continuing for a period of 6
months hereafter, to exclusively pitch and submit the Picture to Third Parties
for development, financing and/or production. It is understood that if the
Picture is set up with a Third Party, Xxxxxx will be the producer thereof and
shall be entitled to Canton's then current standard producing deal (e.g.,
currently the Warner Bros. deal). Please note we are in the process of making an
arrangement with Xxxxx Xxxxx as it relates to this relationship.
In addition, we would like to discuss a more comprehensive
arrangement between Xxxx Xxx Media and Canton in connection with other Xxxx Xxx
properties including, for example, the Back Street Boys movie.
Please sign on the space indicated below to confirm your agreement to
the foregoing and return a copy of same to me for my files.
Very truly yours,
DRAFT
/s/ XXXX XXXXXX
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Xxxx Xxxxxx
MC:
cc: Xxxxx X. Xxxxx, Esq.
Xxxxxx X. Xxxxxxxx, Esq.
/s/ XXXX XXX
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Xxxx Xxx
Xxxx Xxx Media
