SEVEN ARTS PICTURES PLC
EXHIBIT
10.20
00
Xxxxxxxxxx Xxxxxx
Xxxxxx
XX0X 0XX
XX
As of November 1, 0000
Xxxxx
Xxxx Pictures Inc.
0000 Xxx
Xxxxxxx Xxxxxxxxx, Xxxxx 000
Xxx
Xxxxxxx, Xxxxxxxxxx 00000
Re: INTERCOMPANY
AGREEMENT
Gentlemen:
You ("SAP") are hereby appointed as the
independent agent of us ("PLC") to enter into agreements and to conduct business
on behalf of us in all aspects related to the motion picture
business. All of your actions will be taken pursuant to the direction
of the Board of Directors of us and you shall take no actions without our
approval. All results and proceeds of any actions and services
performed by you shall belong to us and are hereby assigned to us in full for no
further consideration. The intention of this agreement is that SAP
will be an independent agent under the terms of the tax treaty between the
United States and the United Kingdom as in effect or as it may be amended from
time to time, and therefore the office of SAP in the United States shall not be
and is not intended to be a "permanent establishment" of us.
Please confirm you agreement to the
foregoing by signing below where indicated.
By: ___/s/ Xxxxx
Hoffman___________
AGREED
AND ACCEPTED
SEVEN
ARTS PICTURES INC.
By: ___/s/
Xxxxx Hoffman____________
1
