Exhibit 10.2
MEMORANDUM OF AGREEMENT
The Memorandum of Agreement sets forth a portion of an Agreement dated
July 2, 1996, relating to the film project currently entitled "THE GIANT," by
and between NEW SKY COMMUNICATIONS, INC., with offices at 731 Powers Building,
00 Xxxx Xxxx Xxxxxx, Xxxxxxxxx, Xxx Xxxx 00000 and XXXXX XXXXXXXX, residing at
00000 Xxxxx Xxxxx, Xxxxxx Xxxx, Xxxxxxxxxx 00000.
In consideration of the services rendered and funds expended by
XxXxxxxx in developing the film "THE GIANT" the parties hereto agree inter alia
as follows: New Sky is the owner of all right, title and interest in the film
"THE GIANT." New Sky does hereby assign and transfer all such rights, title and
interest in such film to XxXxxxxx subject to New Sky retaining the right to
receive five percent (5%) of the budget of the film to a maximum of $750,000, if
the film is produced. New Sky retains and XxXxxxxx grants the right to receive
fifteen percent (15%) of 100% of XxXxxxxx'x share of any producer's profit, not
including fees paid to him as a producer. New Sky shall also receive appropriate
screen credit. If New Sky shall raise financing or assist in producing the film,
additional compensation, fees and profit participation for such services may be
negotiated between the parties.
This memorandum is dated June 27, 2001.
NEW SKY COMMUNICATIONS, INC.
By: /s/ Xxxx X. Xxxxxxxx
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President
/s/ Xxxxx XxXxxxxx
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