<PAGE>   1
                                                                   Exhibit 10.81


                                    AGREEMENT

THIS AGREEMENT is made and entered into this 21 day of May, 1998 by and
between the American Artists Entertainment Corporation (AAEC), a corporation
doing business in the state of Georgia and THC Entertainment, LLC (THC), a
corporation doing business in Nashville, Tennessee.

                                          RECITALS

1 - AAEC is a development and production company in the business of producing
feature length motion pictures and video and television programs for worldwide
distribution in all media.

2 - THC, LLC is an entertainment music production and project/personnel
management company in the business of composing, producing and managing motion
picture, movie, television and promotional projects/programs/campaigns.

3 - AAEC and THC wish to enter into an agreement to produce a feature
film based on the screenplay owned by AAEC titled LAST SUNRISE, hereafter known
as the property, to be distributed in all media in all markets worldwide.


                                           AGREED

1 - THC and AAEC mutually agree to a six month period, with an additional six
month option to jointly produce the property, said option commencing on the
execution of this document.

2 - AAEC agrees to provide its resources and connections to develop a strategy
and the appropriate support materials to seek financing for the production.

3. THC agrees to mutually facilitate the development of such strategy and
support materials.

4. Both parties agree and acknowledge that they will introduce the property to
actors, musicians, recording artists, and entertainment industry executives who
may cause the property to be produced.

5. In the event that funding is arranged, both parties agree to the following:

a. AAEC agrees to provide the property and all production services, including
but not limited to producers, director, writer, sound recording, editors and
other such personnel as required to produce a theatrical or broadcast quality
program. Such personnel and services to be paid from the production budget of
the programs.



<PAGE>   2



b. THC agrees to provide the music composers, score, title track and, budget
permitting, music for a soundtrack CD to compliment the production of the
feature film, and to serve as co-producer of the feature film. Such goods and
services to be paid from the production budget of the programs.

6. The specific fees for all services will be negotiated in good faith and
directly related to the total production dollars available.

7 - AAEC and THC agree to negotiate in good faith the appropriate corporate and
individual credits.

8 - For their contributions, AAEC and THC shall each own equal shares of any
profits derived from the broadcast or exploitation of these programs from any
sales or licensing arrangements or any derivative or indirect or spin off
products resulting from these programs in all media worldwide.

9. - Both parties assert that they have the right to enter into this agreement
and that there are no known liens against either party.


If the above commemorates your understanding please signify so by signing below.


/s/  Rex Hauch
--------------------------------------------------------
American Artists Entertainment Corporation


/s/  Don Casselman
---------------------------------------------------------
THC Entertainment, LLC