SHAREHOLDERS AGREEMENT
AGREEMENT, made as of this 29th day of December, 1987, by and among the
persons listed on Schedule I hereto (hereinafter referred to collectively as the
"Investors" and individually as an "Investor").
WHEREAS, Image Entertainment, Inc., a Colorado corporation (the
"Corporation"), is authorized to issue 100,000,000 shares of Common Stock, par
value of $.05 per share (the "Common Stock");
WHEREAS, each of the Investors owns the number of shares of Common Stock
or rights to acquire shares of Common Stock set forth opposite such Investor's
name on Schedule I hereto; and
WHEREAS, the Investors desire to provide for certain restrictions on the
transfer of the shares of Common Stock owned by the Investors.
NOW, THEREFORE, in consideration of the premises, the mutual covenants
herein contained, and other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto agree as follows:
-1-
1. Representations and Warranties. A. Each Investor severally represents
and warrants that it has full power and authority to execute and deliver this
Agreement, and that the execution and delivery of this Agreement will not result
in the breach of or default under, with or without the giving of notice and/or
passage of time, any other agreement, arrangement or indenture to which such
Investor is a party or by which it may be bound, or the violation of any law,
statute, rule, decree, order, judgment or regulation binding upon such Investor
or the shares of Common Stock owned by such Investor.
B. Each Investor severally represents, warrants and covenants to
each other Investor that in connection with its purchase of shares of Common
Stock of the Corporation pursuant to the Stock Purchase Agreement, of even date
herewith, among the Investors, the Corporation and certain other persons (the
"Stock Purchase Agreement") it has not relied upon any investigation,
representation, warranty, covenant or statement of any kind whatsoever of any
other Investor or such other Investor's representatives, attorneys, accountants
or other agents of any kind.
2. Right of First Refusal. Upon the following terms and conditions, each
of the Investors and its Affiliates, as hereinafter defined, shall have the
first right
-2-
to buy (a) any shares of Common Stock purchased by an Investor pursuant to the
Stock Purchase Agreement, or pursuant to Rights (as defined in the Stock
Purchase Agreement) issued or to be issued pursuant to the Stock Purchase
Agreement, or (b) any Rights issued or to be issued pursuant to the Stock
Purchase Agreement (collectively the "Shares or Rights"), which Shares or Rights
are proposed to be sold by any Investor. The term "Affiliate" shall mean a
person or entity that directly, or indirectly through one or more
intermediaries, controls or is controlled by, or is under common control with,
an Investor or any person who is a member of the immediate family of an
Investor, or any trust for the benefit of any of the foregoing persons. For
purposes of this Section 2 only, the term Investor shall include any Affiliate
of such Investor. No Investor shall sell, transfer, assign or deliver
(hereinafter defined as "sell" or when used in such tense "sold") any Shares or
Rights owned by such Investor except for cash and unless such Investor complies
with the provisions of this Section 2. If an Investor ("Selling Investor")
desires to sell all or any part of its Shares or Rights to any person or entity,
such Selling Investor shall first obtain a bona fide written offer ("Offer")
therefor and shall give notice in writing to each of the other Investors (the
"Purchasing Investors") that it desires to accept the Offer. Said notice shall
contain a statement setting forth
-3-
the name and address of the maker of the Offer and a true and correct copy
thereof. Any Purchasing Investor which desires to purchase part or all of such
Shares or Rights shall give notice in writing of such desire to the Selling
Investor, with a copy to each other Purchasing Investor, within 30 days after
the date of the giving of notice by the Selling Investor, which notice shall set
forth how much of such Shares or Rights such Purchasing Investor desires to
purchase. If two or more Purchasing Investors notify the Selling Investor of
their desire to acquire all or portions of the Shares or Rights proposed to be
sold, which in the aggregate equal or exceed the Shares or Rights to be sold,
then each Purchasing Investor shall acquire a pro rata share of such Shares or
Rights, and each such Purchasing Investor shall be required to pay to the
Selling Investor its pro rata share of the purchase price unless any Purchasing
Investor desires to purchase less than its full pro rata share of such Shares or
Rights as determined above, in which case the other Purchasing Investors shall
purchase the balance of such pro rata share in series as each remaining
Purchasing Investor refuses to purchase its pro rata share of the Selling
Investor's Shares or Rights. A Purchasing Investor's pro rata share shall be a
fraction, the numerator of which is the number of Shares owned by such
Purchasing Investor and purchased by him pursuant to the Stock Purchase
Agreement, and the denominator of which is the total
-4-
number of Shares owned by all Purchasing Investors exercising any right and
purchased by such Purchasing Investors pursuant to the Stock Purchase Agreement.
The closing of the purchase by the Purchasing Investor(s) shall take place 60
days after the expiration of said 30-day period at 10:00 A.M., at the offices of
the Corporation or at such other time and place as may be agreed upon by the
Selling Investor and the Purchasing Investor(s). If any one or more of the
Purchasing Investors does not give notice as aforesaid of its (or their)
intention to purchase all of the Shares or Rights to be sold by the Selling
Investor, then any notices given shall be deemed null and void and the Selling
Investor may sell within 90 days after the expiration of the said 30-day period
such Shares or Rights to the person making the Offer on the exact terms set
forth in the Offer. Notwithstanding anything to the contrary contained in this
Agreement, the provisions of this Section 2 shall not apply to (a) the sale,
assignment or transfer of Shares or Rights by an Investor to an Affiliate of
such Investor, (b) any sale, assignment or transfer of Shares or Rights by an
Investor on a national or regional stock exchange transaction or in the
over-the-counter market, or (c) any sale, assignment or transfer of any shares
of Common Stock of the Corporation, or rights to acquire shares of Common Stock
of the Corporation which were not purchased by an Investor pursuant to the Stock
Purchase Agreement or pursuant to Rights
-5-
issued pursuant to the Stock Purchase Agreement.
3. Recapitalization. If at any time this Agreement is in effect, there is
a stock dividend, split-up, recapitalization, combination or exchange of shares,
merger, consolidation, acquisition of property or stock, reorganization or
liquidation as the result of which securities of any kind shall be issued in
respect of the Shares or Rights, or the Shares or Rights shall be changed into
the same or a different number of Shares or Rights of the same or another class
or classes, this Agreement shall apply to the aggregate number and class of such
securities which any Investor or any transferee shall receive or be entitled to
receive on account of, with respect to, or in lieu of such Shares or Rights, as
a result of any such stock dividend, split-up, recapitalization or liquidation.
4. Buyers' Representatives. A. Under the terms of the Stock Purchase
Agreement the Investors are required to designate two persons as the Buyers'
Representatives for the purpose of taking certain actions on behalf of the
Investors under the terms of the Stock Purchase Agreement. The Buyers'
Representatives shall initially be Xxxxx X. Xxxxxxxxx and Xxxx Xxxxxx. At any
time any person serving as a Buyers' Representative may be replaced by the
holders of a majority of the Shares issued pursuant to the Stock Purchase
Agreement and still owned of record by an Investor or any Affiliate of an
-6-
Investor. Such replacement shall be evidenced by a written consent signed by
holders holding the required number of Shares, and shall be effective
immediately upon the sending of such notice to all Investors in accordance with
paragraph 5 hereof.
B. The persons designated as Buyers' Representatives by the acceptance of
their appointment agree to promptly deliver to each of the Investors or any
Affiliate, copies of all notices, requests and demands received by the Buyers'
Representatives pursuant to the Stock Purchase Agreement.
5. Notices. Except as otherwise expressly provided herein, all notices,
requests and demands to or upon the respective parties to this Agreement shall
be deemed to have been given or made when delivered by hand, deposited in the
mail, first class postage prepaid, return receipt requested, or by telegraphic
notice, when delivered to the telegraph company, or by telex or facsimile
transmission notice, when received, addressed as follows or to such other
address as may be hereinafter designated in writing by the respective parties
hereto:
-7-
If to an Investor:
To the address of such Investor set forth on Schedule I
hereto, with a copy (which, alone, shall not constitute
notice) to:
Xxxxx Xxxx Xxxxx Constant & Xxxxxxxx
00 Xxxxxxxxxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx X. Xxxxxxx, Esq.
If to Buyers' Representatives:
To the address of each such person given to the parties
to this Agreement by notice pursuant to this Section,
with a copy (which, alone, shall not constitute notice)
to:
Xxxxx Xxxx Xxxxx Constant & Xxxxxxxx
00 Xxxxxxxxxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx X. Xxxxxxx, Esq.
6. Amendments and Waivers. The provisions of this Agreement may from time
to time be amended, supplemented or otherwise modified or waived only by a
written agreement signed by the parties hereto.
7. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the parties hereto, their respective heirs, legal representatives,
successors and assigns.
8. Governing Law. This Agreement shall be deemed
-8-
a contract made under the laws of, executed, and delivered in the State of New
York and for all purposes shall be construed and interpreted in accordance with
the laws of such State without reference to conflicts of laws principles.
9. Severability. Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforcability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.
10. Gender and Number. When the context so requires in this Agreement, any
gender includes the masculine, feminine and neuter, and the singular number
includes the plural.
11. Counterparts. This Agreement may be executed by one or more of the
parties hereto on any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.
12. Headings. The headings used in this Agreement are for convenience only
and shall not affect the construction of this Agreement.
13. Specific Performance. The parties hereto
-9-
acknowledge that monetary damages may not adequately compensate any party hereto
for the failure of any other party to observe its respective covenants
hereunder. Upon application to any court of equity having jurisdiction in the
premises to enforce any provision of this Agreement by any party hereto, such
party shall be entitled to a decree against each such other party hereto (and
any transferee of Shares or Rights) requiring specific performance hereof by
such other party. Each party hereto hereby waives the claim or defense in any
such action that the party making such application has an adequate remedy at
law.
14. Filing of Agreement. By its execution of this Agreement, the
Corporation agrees to cause a copy of this Agreement and each and every
supplement and amendment hereto to be filed in the principal office of the
Corporation.
15. Further Assurances. Each party agrees to execute and deliver such
other instruments as the other party may reasonably request in order to
effectuate the intent of this Agreement and the transactions provided for
herein.
16. Termination. The term of this Agreement shall commence on the date
hereof and shall continue until the occurrence of any one of the following
events:
a. the effective date of a registration state-
-10-
ment covering all of the Shares of the Investors under the Securities Act of
1933, as amended;
b. the ownership by the Investors as a group of less than 50% of the
number of Shares acquired by them as a group pursuant to the Stock Purchase
Agreement;
c. if the Corporation shall be adjudicated bankrupt or insolvent, or
an order shall be entered, remaining unstayed or discharged for sixty days,
appointing a receiver or trustee for the Corporation, or for substantially all
of its property, or approving a petition seeking reorganization or other similar
relief under the bankruptcy or other similar laws of the United States or of any
state, or the Corporation shall file a petition seeking any of the foregoing or
shall consent thereto, or file a petition to take advantage of any debtors' act,
or make a general assignment for the benefit of creditors, or admit in writing
its inability to pay its debts as they mature.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.
/s/ Xxxxxxx X. Xxxxxxx
----------------------------------
Xxxxxxx X. Xxxxxxx
/s/ Xxx X. Xxxxxx
----------------------------------
Xxx X. Xxxxxx
-11-
ment covering all of the Shares of the Investors under the Securities Act of
1933, as amended;
b. the ownership by the Investors as a group of less than 50% of the
number of Shares acquired by them as a group pursuant to the Stock Purchase
Agreement;
c. if the Corporation shall be adjudicated bankrupt or insolvent, or
an order shall be entered, remaining unstayed or discharged for sixty days,
appointing a receiver or trustee for the Corporation, or for substantially all
of its property, or approving a petition seeking reorganization or other similar
relief under the bankruptcy or other similar laws of the United States or of any
state, or the Corporation shall file a petition seeking any of the foregoing or
shall consent thereto, or file a petition to take advantage of any debtors' act,
or make a general assignment for the benefit of creditors, or admit in writing
its inability to pay its debts as they mature.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.
----------------------------------
Xxxxxxx X. Xxxxxxx
----------------------------------
Xxx X. Xxxxxx
-11-
/s/Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
/s/Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxx Xxxxxx
/s/Xxxxxx X. Xxxxx
----------------------------------
Xxxxxx X. Xxxxx
/s/Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
/s/Xxxxx Xxxxxx
----------------------------------
Xxxxx Xxxxxx
/s/Xxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
-44-
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
/s/Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
/s/Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
/s/Xxxxxx Xxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
/s/X. X. Xxxxx, Xx.
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
/s/Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
/s/Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxx X. Xxxxx
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxx Xxxxxx
----------------------------------
Xxx Xxxxxx
----------------------------------
Xxxxx X. Xxxxxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxx Xxx
----------------------------------
X. X. Xxxxx, Xx.
----------------------------------
Xxxxxxx Xxxxx
----------------------------------
Xxxxxxx Xxxxx
/s/Xxxxx Xxxxxx
----------------------------------
Xxxxx Xxxxxx
-12-
/s/Xxxxxxx X. Midis
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
/s/Xxxxx Xxxxxxx
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
/s/Panos Midis
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
/s/Xxxxx X. Xxxxxx
----------------------------------
Xxxxx X. Xxxxxx
/s/Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxxx
/s/Xxxx X. Xxxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
/s/Xxxxxxxx X. Xxxxx
----------------------------------
Xxxxxxxx Xxxxx
/s/Xxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
/s/Xxxx Xxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
/s/ X. X. Xxxxxxxx, Xx.
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
/s/Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
----------------------------------
Xxxxxxx X. Midis
----------------------------------
Xxxxx Xxxxxxx
----------------------------------
Panos Midis
----------------------------------
Xxxxx X. Xxxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx X. Xxxxxxx
----------------------------------
Xxxxxxxx Xxxxx
----------------------------------
Xxxx Xxxxxx
----------------------------------
Xxxx Xxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxx, Xx.
----------------------------------
Xxxxx Xxxxxxx Xxxxxxxx
/s/Xxxxxxx Xxxx Xxxxxxxx
----------------------------------
Xxxxxxx Xxxx Xxxxxxxx
-13-
Image Investors Co.
By: /s/ Xxxxxx Xxxxxxxxx
----------------------------
Title: Executive Vice President
--------------------------
By the execution of this Agreement, Image Entertainment, Inc.
agrees to be bound by the provisions of Paragraph 14 hereof.
Image Entertainment, Inc.
By: /s/ Xxxxxx X. Xxxxxxxxx
-----------------------------
Title: President
------------------------
-14-
Image Investors Co.
By: /s/ Xxxxxx Xxxxxxxxx
-----------------------------
Title: Executive Vice President
------------------------
By the execution of this Agreement, Image Entertainment, Inc.
agrees to be bound by the provisions of Paragraph 14 hereof.
Image Entertainment, Inc.
By:
-----------------------------
Title:
------------------------
-14-
INVESTORS
Options
Currently
Amount Shares Options Exercisable
------ ------ ------- -----------
Xxxxxx X. & Xxxxxxx Xxxxx $ 65,000 1,300,000 859,863 148,330
(JTWROS)
000 Xxxx 00xx Xxxxxx - Xxx. 00X
Xxx Xxxx, XX 00000
Xxxxxxx Xxxxxxxx 50,000 1,000,000 661,433 114,100
Xxx 0000 (Xxxxxx)
Xxxx Xxxxx, XX 00000
Xxxxx Xxx 20,000 400,000 264,574 45,641
000 Xxxx 00xx Xxxxxx - Xxxxx 0000
Xxx Xxxx, XX 00000
X. X. Xxxxx Xx. 15,000 300,000 198,430 34,230
000 Xxxxxx Xxxxx Xxxx
Xxxxx Xxxxx, XX 00000
Xxxxxxx & Xxxxxxx Xxxxx 20,000 400,000 264,574 45,641
(JTWROS)
000-00 00xx Xxxxxx
Xxxxxxx, XX 00000
Xxxxx Xxxxxx 5,000 100,000 66,143 11,410
Xxxxxx Xxxxxxx Xxxx.
Xxx Xxxxxx, XX 00000
Xxxxxxx X. Midis 10,000 200,000 132,287 22,820
0 Xxxxxxxxx Xxxx
X. Xxxxxxxx, XX 00000
Xxxxx Xxxxxxx 5,000 100,000 66,143 11,410
00 Xxx Xxxx
Xxxxx Xxxxx, XX 00000
Xx. Xxxxx Midis 5,000 100,000 66,143 11,410
0000 Xxxxxxxxxxx Xxxx
Xxxxxxxx, XX 00000
Xxxxx X. Xxxxxxxxx 10,000 200,000 132,287 22,820
00 Xxxx Xxxxx, Xxx. 0X
Xxxxx, XX 00000
Xxxxx X. & Xxxx Xxxxxx 5,000 100,000 66,143 11,410
(JTWROS)
00 Xxxxxxxxx Xxxxx
Xxxxxx, XX 00000
Xxxx X. Xxxxxxx 5,000 100,000 66,143 11,410
00 Xxxxxxx Xxxxx
Xxxxxxxx, XX 00000
Options
Currently
Amount Shares Options Exercisable
----------- ----------- ----------- -----------
Xxx X. and Xxxx Xxxxxx 20,000 400,000 264,574 45,641
(JTWROS)
000 Xxxx Xxxxx
Xxxxxxxx, XX 00000
Xxxxxxxx Xxxxx and Xxxx Xxxxxx 15,000 300,000 198,430 34,230
(JTWROS)
000 Xxxx 00xx Xxxxxx. Xxx. 0X
Xxx Xxxx, XX 00000
Xxxx Xxxxx 10,000 200,000 132,287 22,820
00 Xxxxx Xxxx
Xxx Xxxxx, XX 00000
Xxxxxxx X. Xxxxxxxx, Xx. 5,000 100,000 66,143 11,410
and Xxxxx Xxxxxxx Xxxxxxxx
(JTWROS)
000 Xxxx Xxxxx
Xxxxxxxx Xxxxx, XX 00000
Image Investors Co. 250,000 5,000,000 3,307,167 570,504
0 Xxxxxx Xxxxx
Xxxxxxxx, XX 00000
Xxxxxxx X. Xxxxxxx 25,000 500,000 330,717 57,051
00 Xxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Xxxxxxx Xxxxxx 25,000 500,000 330,717 57,051
000 Xxx Xxxx Xxxx
Xxxxxxx Xxxxx, XX 00000
Xxxxxxx Xxxx Xxxxxxxx 20,000 400,000 264,574 45,641
X.X. Xxx 000
Xxxxxx, XX 00000
Xxxxx & Xxx Xxxxxx 15,000 300,000 198,430 34,230
(JTWROS) ----------- ----------- ----------- -----------
0000 Xxxxxxxxxxxx Xxxx
Xxxxxxxx Xxxx, XX 00000
$ 600,000 12,000,000 7,937,202 1,369,210
=========== ========== ========= =========
