Exhibit 10.48

EMPLOYMENT AGREEMENT

This Employment Agreement is entered into by and amongAMC ENTERTAINMENT INC., a Delaware corporation
("AMCE"),AMC ENTERTAINMENT INTERNATIONAL, INC., a Delaware corporation ("AMCEI" and, collectively with AMCE, the "Company"), and MARK A. MCDONALD("Employee"). In consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows:

1.Duties.During the Term (as defined in Section 2) of his employment by the Company under this
Agreement, Employee shall devote his full time and attention to the business of the Company as directed by AMC's President and Chief Operating Officer or such officer's designee.

2.Term.The term of this Agreement shall commence as of July 1, 2001 and shall terminate on
June 30, 2003 or sooner as provided in Section 6 below (such period, as it may be extended, the "Term"). On each July 1 hereafter, commencing in 2002, one year shall be added to
the Term of Employee's employment with the Company under this Agreement, so that as of each July 1 the Term of Employee's employment hereunder shall be two (2) years.

3.Compensation.



4.Expense Reimbursements.    During the Term of Employee's employment by the Company under this Agreement, the
Company shall reimburse Employee for business travel and entertainment expenses reasonably incurred by Employee on behalf of the Company in accordance with the Company's procedures, as such may exist
from time to time.

5.Termination.    Employee's employment by the Company under this Agreement shall be terminated upon the earliest
to occur of the following events:



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6.Termination Procedure.



7.Compensation During Disability or Upon Termination.



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8.Confidentiality.    Employee acknowledges that he knows and in the future will know information relating to the
Company and its affiliated companies and their respective operations that is confidential or a trade secret. Such information includes information, whether obtained in writing, in conversation or
otherwise, concerning corporate strategy, intent and plans, business operations, pricing, costs, budgets, equipment, the status, scope and term of pending acquisitions, negotiations and transactions,
the terms of existing or proposed business arrangements, contracts and obligations, and corporate and financial reports. Such confidential or trade secret information shall not, however, include
information in the public domain unless Employee has, without authority, made it public.

Employee
shall (a) not disclose such information to anyone except in confidence and as is necessary to the performance of his duties for the Company, (b) keep such
information confidential, (c) take appropriate precautions to maintain the confidentiality of such information, and (d) not use such information for personal benefit or the benefit of
any competitor or any other person.

Upon
termination of his employment by the Company under this Agreement, Employee shall return all materials in his possession or under his control that were prepared by or relate to the
Company or its affiliates, including, but not limited to, materials containing confidential information, files, memorandums, price lists, reports, budgets and handbooks.

Employee's
obligation under this Section 8 shall survive the termination of Employee's employment by the Company under this Agreement.

9.Equitable Remedies.The parties acknowledge that irreparable damage will result to the Company from any
violation of Section 8 above by Employee. The parties expressly agree that, in addition to any and all remedies available to the Company for any such violation, the Company shall have the
remedy of restraining order and injunction and any such equitable relief as may be declared or issued to enforce the provisions of Section 8 above and Employee agrees not to claim in any such
equitable proceeding that a remedy at law is available to the Company. Notwithstanding anything contained herein to the contrary and if, and only if, any provision of the type contained in
Section 8 above, as the case may be, is enforceable in the jurisdiction in question, if any one or more of the provisions contained in such section shall for any reason be held to be
excessively broad as to duration, geographical scope, activity or subject, such provision shall be construed by limiting and reducing it so as to be enforceable to the extent compatible with the
applicable law in such jurisdiction as it shall then appear.

10.Successors: Binding Agreement.



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11.Notices.All notices, requests, demand or other communications under this Agreement shall be in writing
addressed as follows:



Any
such notice, request, demand or other communication shall be effective as of the date of actual delivery thereof. Either party may change such notice address by written notice as
provided herein.

12.Total Compensation.    The compensation to be paid to Employee under this Agreement shall be in full payment
for all services rendered by Employee in any capacity to the Company or any affiliate of the Company.

13.Additional Potential Compensation.    Nothing in this Agreement shall prohibit the Company from awarding
additional compensation to Employee if it is determined that such compensation is warranted based on Employee's performance.

14.Other Provisions.This Agreement shall be governed by the laws of the State of Missouri. This Agreement
represents the entire agreement of the parties hereto and shall not be amended except by a written agreement signed by all the parties hereto. This Agreement supersedes any prior oral or written
agreements or understandings between the Company or any affiliate of the Company and Employee. This Agreement shall not be assignable by one party without the prior written consent of the other party,
except by the Company if it complies with Section 10 above. In the event one or more of the provisions contained in this Agreement or any application thereof shall be invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this Agreement or any other application thereof shall not in any way be affected or impaired
thereby. Section headings herein have no legal significance.

15.Arbitration.Any legal dispute related to this Agreement and/or any claim related to this Agreement, or
breach thereof, shall, in lieu of being submitted to a court of law, be submitted to arbitration, in accordance with the applicable dispute resolution procedures of the American Arbitration
Association. The award of the arbitrators shall be final and binding upon the parties.

The
parties hereto agree that (i) three arbitrators shall be selected pursuant to the rules and procedures of the American Arbitration Association, (ii) at least one
arbitrator shall be a licensed attorney, (iii) the arbitrators shall have the power to award injunctive relief or to direct specific performance, (iv) each of the parties, unless
otherwise provided by applicable law and procedures, shall bear its own attorneys'
fees, costs and expenses and an equal share of the arbitrators' and administrative fees of arbitration, and (v) the arbitrators shall award to the prevailing party a sum equal to that party's
share of the arbitrators' and administrative fees of arbitration.

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Nothing
in this section shall be construed as providing Employee a cause of action, remedy or procedure that Employee would not otherwise have under this Agreement or the law. Employee
understands that in signing this Agreement he is waiving any right that he may have to a jury trial or a court trial of any legal dispute or claim as set forth above.

THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES.

IN
WITNESS WHEREOF, the parties have executed this Employment Agreement as of the day and year first above written.

| |  | AMC ENTERTAINMENT INC.,a Delaware corporation               
| |  | ------------------------------------------------------------
| |  | By:                                                         
| |  | AMC ENTERTAINMENT INTERNATIONAL, INC.,a Delaware corporation
| |  | By:                                                         
| |  | /s/MARK A. MCDONALDMARK A. MCDONALD, EMPLOYEE               

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