# EDGAR Filing Document

**Accession Number:** 0001733443
**File Stem:** 0001104659-25-071215
**Filing Date:** 2025-7
**Character Count:** 47526
**Document Hash:** 06fb9eee6592626b519bfff118855c98
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-071215.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001104659-25-071215

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250722

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 5&2 Studios, Inc.
- **CENTRAL INDEX KEY:** 0001733443
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 823246222
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56519
- **FILM NUMBER:** 251156382

**BUSINESS ADDRESS:**
- **STREET 1:** 8291 BAUCUM ROAD
- **CITY:** MIDLOTHIAN
- **STATE:** TX
- **ZIP:** 76065
- **BUSINESS PHONE:** 833-924-6736

**MAIL ADDRESS:**
- **STREET 1:** 8291 BAUCUM ROAD
- **CITY:** MIDLOTHIAN
- **STATE:** TX
- **ZIP:** 76065

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Chosen, Inc.
- **DATE OF NAME CHANGE:** 20221207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Chosen, LLC
- **DATE OF NAME CHANGE:** 20180305

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**July 22, 2025**

Date of Report (Date of earliest event reported)

**<u>5&2 Studios, Inc.</u>**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-56519** | **82-3246222** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **8291 Baucum Road**<br> **Midlothian, TX** | **76065** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **833-924-6736**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

**Series B Common Stock**

(Title of Class)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement.** |

---

As previously disclosed in the Current Report on Form 8-K filed by the 5&2 Studios, Inc. (the "Company") with the Securities and Exchange Commission on May 15, 2024 and June 20, 2024, the Company entered into an Asset Purchase Agreement (the "APA") with the non-profit entity Come and See Foundation, Inc. ("CAS") on May 13, 2024. The APA provided for, subject to certain terms and conditions, the entry into (i) a Production Services and Funding Agreement (the "PSFA") between CAS and The Chosen Texas, LLC ("TCT") and (ii) an Amended and Restated Distribution License and Marketing Services Agreement (the "DMA") between CAS and Company, which agreements were entered into on June 13, 2024.

On July 22, 2025, (i) Company and CAS entered into a Second Amendment to the DMA effective as of February 13, 2025 (the "DMA Second Amendment"), and (ii) TCT and CAS entered into a First Amendment to the PSFA effective as of February 13, 2025 (the "PSFA First Amendment").

 

*DMA Second Amendment* 

The DMA Second Amendment provides for, among other things, (i) CAS granting Company the Distribution Rights in and to the Project C television series ("Project C"), comprised of 3 seasons, until June 13, 2034, (ii) CAS retaining the CAS Reserved Rights in and to Project C; and (iii) Company paying each of CAS and TCT certain percentages of the gross receipts from Company's exploitation of the Distribution Rights for Project C pursuant to the terms of the PSFA.

The foregoing summary of the DMA Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.

*PSFA First Amendment* 

The PSFA First Amendment provides for, among other things, (i) CAS engaging TCT to render all development and production services in order to fully deliver three seasons of Project C, plus potential additional programming related to Project C; (ii) CAS providing the production costs of such episodes of Project C; (iii) CAS owning all rights in and to Project C on a work-made-for-hire basis; (iv) CAS paying to TCT a market-rate production services fee based upon the agreed budgeted amounts, for the actual development, production and post-production services for a season through and including complete delivery of such season of Project C; (v) Key Man being engaged by TCT or Company as the principal showrunner of such seasons of Project C, to render creative writing and directing services on a first-priority basis and on an exclusive basis during principal photography of each episode of Project C pursuant to the Key Man Affiliation; and (vi) Company paying each of CAS and TCT certain percentages of the gross receipts from Company's exploitation of the Distribution Rights for Project C.

The foregoing summary of the PSFA First Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of such document, which is filed as Exhibit 10.2 to this Current Report on Form 8-K, and is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| &nbsp;&nbsp;Exhibit No. | &nbsp;&nbsp;Description |
| &nbsp;&nbsp;[10.1](tm2521828d1_ex10-1.htm) | &nbsp;&nbsp;[Second Amendment to Amended and Restated Distribution License and Marketing Services Agreement, dated February 13, 2025, by and between 5&2 Studios, Inc. and Come and See Foundation, Inc.\*](tm2521828d1_ex10-1.htm) |
| &nbsp;&nbsp;[10.2](tm2521828d1_ex10-2.htm) | &nbsp;&nbsp;[First Amendment to Production Services and Funding Agreement, dated February 13, 2025, by and between The Chosen Texas, LLC and Come and See Foundation, Inc.\*](tm2521828d1_ex10-2.htm) |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

\* Portions of this exhibit are redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The Company agrees to furnish a copy of any redacted information and/or omitted schedules to the U.S. Securities and Exchange Commission upon request.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Dated: July 28, 2025 | 5&2 STUDIOS, INC. | 5&2 STUDIOS, INC. |
|  | By: | /s/ JD Larsen |
|  | Name: | JD Larsen |
|  | Title: | Chief Financial Officer |

---

## Exhibit 10.1

Exhibit 10.1

This Exhibit 10.1 includes certain identified information that has been redacted because it is both (i) not material and (ii) the type of information that the registrant customarily and actually treats as private and confidential. Where information has been redacted, it has been so indicated by a "[\*\*\*]".

**SECOND AMENDMENT TO AMENDED AND RESTATED DISTRIBUTION LICENSE AND MARKETING SERVICES AGREEMENT**

This Second Amendment to Amended and Restated Distribution License and Marketing Services Agreement (this "**Second Amendment**") is made and entered into this 13<sup>th</sup> day of February, 2025 ("**Effective Date**") by and between Come and See Foundation, Inc., a North Carolina nonprofit corporation ("**CAS**"), and 5&2 Studios, Inc., a Delaware corporation ("**Distributor**"), and amends that certain Amended and Restated Distribution License and Marketing Services Agreement dated June 13, 2024, by and between CAS and Distributor (as amended by that certain Amendment between CAS and Distributor dated September 30, 2024, collectively, the "**DMA**"). Each of Distributor and CAS are sometimes referred to herein as a "**Party**" and are collectively referred to herein as the "**Parties**." Capitalized words and phrases used in this Second Amendment but not otherwise defined herein shall have the definitions ascribed to them in the DMA.

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. WHEREAS, pursuant to that certain First Amendment to Production Services and Funding Agreement of even date herewith between The Chosen Texas, LLC ("**TCT**") and CAS, which amends the PSFA (the "**First Amendment to PSFA**"), CAS is engaging TCT to develop, produce and deliver two (2) and potentially three (3) seasons comprised of eight (8) episodes each of the Project C audiovisual episodic series (the "**Project C Series**") which is owned by CAS (such engagement referred to as the "**Project C Production Engagement**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;II. WHEREAS, CAS and TCT are concurrently entering into that certain Second Amendment to Production Services and Funding Agreement of even date herewith ("**Second Amendment to PSFA**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;III. WHEREAS, CAS and Distributor are concurrently entering into that certain Third Amendment to Amended and Restated Distribution License and Marketing Services Agreement of even date herewith (the "**Third Amendment to DMA**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. WHEREAS, the Parties desire to amend the DMA to include the Project C Series program which is being produced under the PSFA, as a Program subject to the terms set forth therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V. WHEREAS, the Parties are concurrently entering into that certain Trademark License Agreement between Distributor and CAS with respect to the Project C Series in form attached hereto and incorporated herein as Exhibit A (the "**Project C Trademark License Agreement**"); and that certain Trademark License Agreement, dated as of July 21, 2025, between CAS and Distributor, with respect to *The Chosen Adventures* ("**The Chosen Adventures Trademark License Agreement**"); and that certain Merchandising Agreement, dated as of July 21, 2025, between CAS and Distributor (the "**Merchandising Agreement**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. WHEREAS, Distributor desires to enter into that certain SVOD Agreement with [\*\*\*] in connection with the Project C Series in the form attached hereto as Exhibit B (the "[\*\*\*] **SVOD License**") and CAS desires to approve such [\*\*\*] SVOD License as set forth herein.

**AGREEMENT**

NOW THEREFORE, in consideration of the agreements and mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree to supplement and amend the DMA as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conditions Preceden</u>t. The Parties shall have no obligations hereunder unless and until the full execution and delivery of the following documents (which are being entered into concurrently herewith): (i) this Second Amendment; (ii) the Third Amendment to DMA; (iii) the First Amendment to PSFA; (iv) the Second Amendment to PSFA; (v) the Project C Trademark License Agreement; (vi) The Chosen Adventures Trademark License Agreement; and (vii) the Merchandising Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Project C Series</u>. Subject to the terms and conditions of the PSFA (as amended through and including the Second Amendment to PSFA), the Project C Series, as produced pursuant to the Project C Production Engagement, shall be deemed to be a Program and a Series under the DMA, subject and pursuant to the terms and conditions of this Second Amendment; *provided*, however, that Merchandising Rights are hereby excluded from the license of Ancillary Rights under the DMA and are reserved by CAS. The Parties intend to discuss in good faith at a later date a potential licensing agreement with Distributor for the Project C Merchandising Rights, provided that any failure of either Party to do so shall not constitute a breach hereof. For clarity, the "Term" of the DMA is not being extended hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Derivative Productions of Project C</u>. For clarity, (a) during the Term Section 11 of the First Amendment to PSFA ["Derivative Productions of Project C"] shall apply to the DMA to the extent that the DMA incorporates provisions of the PSFA; (b) during the Term "Derivative Production(s)" of the Project C Series pursuant to the DMA shall mean a "Project C Derivative Production" as defined in Section 11 of the First Amendment to PSFA; and (c) following the Term of the DMA, unless specifically set forth by terms of this Second Amendment or the First Amendment to the PSFA, Distributor shall have no right to develop, produce, distribute, finance or otherwise exploit the Project C Series, nor any Derivative Production of the Project C Series, nor any Project C Derivative Production (as defined in the PSFA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Chosen-Branded Biblical Universe Project Conditions</u>. The defined term "Chosen-Branded Biblical Universe Project Conditions" in the DMA (as amended from time to time including pursuant to this Second Amendment and the Third Amendment to DMA) shall have the meaning set forth in the 2024 PSFA as amended by the First Amendment to PSFA and the Second Amendment to PSFA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Key Man</u>. Key Man shall be engaged by Distributor (or one of its Affiliates) in substantially the same capacity on the Project C Series as he was on The Chosen Series and as further provided in the PSFA (as amended from time to time including pursuant to the First to PSFA Amendment and the Second Amendment to PSFA). The first sentence of Section 18(l) of the DMA shall be deleted and replaced with the following (and the other sentences shall remain unchanged):

During the Term, Distributor shall cause the Key Man to fulfill his Key Man Affiliation obligations required under the 2024 PSFA, subject to the exclusivity and first priority provisions set forth in the First Amendment to PSFA and Second Amendment to PSFA, through (i) completion and delivery of the seventh season of The Chosen Series; and (ii) though completion and delivery of the three seasons of the Project C Series*,* subject only to any applicable Key Man Non-Exclusive Period as defined and set forth in the Second Amendment to PSFA(such period referred to herein as the "**Key Man Term**" and this provision referred to herein as the "**DMA Key Man Affiliation**").

Second Amendment to DMA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Application of Gross Receipts for the Project C Series</u>. Distributor shall not receive a distribution or participation fee with respect to the Project C Series; *provided*, that a Production Participation Amount is being paid to The Chosen Texas, LLC (an affiliate of Distributor) as provided in the First Amendment to PSFA. Accordingly, Section 8 of the DMA shall not apply to the Project C Series, and the waterfall set forth on <u>Exhibit A</u> to the First Amendment to PSFA shall apply with respect to the Project C Series, in replacement of Section 8 of the DMA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Marketing Duties</u>. Distributor shall have no obligation to provide or otherwise perform the Marketing Duties with respect to the Project C Series and any references to Marketing Duties shall not apply in any way to the Project C Series and CAS shall have no obligation to fund any Marketing Duties Costs Reimbursement Amount in connection therewith unless otherwise mutually agreed in writing by the Parties, *provided* that Distributor shall perform all of the Distributor Delivery obligations and all other Distributor Obligations under the DMA, with respect to the Project C Series; and *provided further* for clarity, the Term of the DMA is not being extended hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Delivery Requirements</u>. Distributor acknowledges that [\*\*\*] delivery schedule may require fewer or different delivery items ("[\*\*\*] **Delivery Items**") than what is required on the Production Delivery Schedule (as defined under the 2024 PSFA [as amended from time to time]) for the Project C Series (the "**CAS Delivery Items**"). Distributor agrees that the [\*\*\*] Delivery Items shall in no way amend, reduce or otherwise be deemed a waiver by CAS of any delivery obligations and requirements of TCT pursuant to the 2024 PSFA (as amended through and including the Second Amendment to PSFA) and/or Distributor pursuant to the DMA (including the Distributor Delivery obligations) to deliver the CAS Delivery Items with respect to the Project C Series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>No Term Extension</u>. Nothing herein directly or indirectly shall be deemed to extend the Term of the DMA nor to cause or trigger any Auto Term Extension under the DMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>[\*\*\*] SVOD License; CAS Reserved Rights/Holdbacks</u>. CAS hereby approves the terms, conditions and restrictions set forth in the [\*\*\*] SVOD Agreement and approves of Distributor entering into the [\*\*\*] SVOD Agreement in the form attached hereto as Exhibit B; *provided*, that no extension of the Term or any Auto Term Extension (directly or indirectly) shall be inferred therefrom. CAS covenants to Distributor that CAS will exercise its CAS Reserved Rights in a manner which does not violate the holdbacks set forth in Section 11 of the [\*\*\*] SVOD Agreement (the "**Special Holdbacks**"). The Special Holdbacks shall cease to be applicable with respect to the Project C Series upon the earlier of: (a) the date the [\*\*\*] SVOD Agreement expires or is terminated pursuant to its original (i.e., February 13<sup>th</sup> unamended) terms, and otherwise in any event upon expiration of the Term of the DMA; *provided*, that if upon the expiration of the Term or termination of the DMA, a Special Holdback as to a specific episode(s) is still in effect against CAS, then CAS's covenant as to such specific episode(s) shall survive such expiration or termination of the DMA and continue, post-Term, until the expiration date of such specific Special Holdback(s). Except as expressly set forth in this Second Amendment with respect to the Project C Series, in the event of any conflict between the [\*\*\*] SVOD Agreement and the DMA, the terms of the DMA shall prevail.

Second Amendment to DMA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Miscellaneous</u>. This Second Amendment is intended to amend only the direct matters specified in this Second Amendment, and there are no intended implicit or indirect changes to (or waivers of) any provisions of the DMA (or PSFA) nor does it create any inference that a Party's rights thereunder are waived, amended or estopped. In the event of a conflict between a provision of this Second Amendment and a provision of the DMA, the specific provision of this Second Amendment shall prevail over such conflicting provision of the DMA. The DMA (and all of the other agreements between Distributor and CAS related to the DMA) shall remain in full force and effect in accordance with their respective terms, as specifically amended hereby. The recitals are hereby incorporated herein by this reference. This Second Amendment may be signed in counterparts and PDF documents and photocopies may be used as an original. Signatures of the Parties so transmitted by PDF or other electronic means shall be deemed to be their original signatures for all purposes. The exchange of copies of this Second Amendment and of signature pages by PDF or other electronic means from which a paper replica can be generated shall constitute effective execution for all purposes.

**[Signature Page to Follow]**

Second Amendment to DMA

IN WITNESS WHEREOF, the Parties have executed this Second Amendment with effect as of the Effective Date.

---

| | |
|:---|:---|
| COME AND SEE FOUNDATION, INC. | COME AND SEE FOUNDATION, INC. |
| By: | /s/ C. Ryan Dunham |
| Name: Ryan Dunham | Name: Ryan Dunham |
| Its: Chief Operating Officer | Its: Chief Operating Officer |
| 5&2 STUDIOS, INC. | 5&2 STUDIOS, INC. |
| By: |  |
| Name: Brad Pelo | Name: Brad Pelo |
| Its: President | Its: President |

---

Signature Pageto Second Amendment to DMA

IN WITNESS WHEREOF, the Parties have executed this Second Amendment with effect as of the Effective Date.

---

| | |
|:---|:---|
| COME AND SEE FOUNDATION, INC. | COME AND SEE FOUNDATION, INC. |
| By: |  |
| Name: Ryan Dunham | Name: Ryan Dunham |
| Its: Chief Operating Officer | Its: Chief Operating Officer |
| 5&2 STUDIOS, INC. | 5&2 STUDIOS, INC. |
| By: | /s/ Brad Pelo |
| Name: Brad Pelo | Name: Brad Pelo |
| Its: President | Its: President |

---

Signature Pageto Second Amendment to DMA

**EXHIBIT A**

PROJECT C TRADEMARK LICENSE AGREEMENT

[\*\*\*]

Second Amendment to DMA

**EXHIBIT** **B**

[\*\*\*] SVOD LICENSE

Second Amendment to DMA

## Exhibit 10.2

Exhibit 10.2

This Exhibit 10.2 includes certain identified information that has been redacted because it is both (i) not material and (ii) the type of information that the registrant customarily and actually treats as private and confidential. Where information has been redacted, it has been so indicated by a "[\*\*\*]".

**FIRST AMENDMENT To PSFA**

This First Amendment to Production Services and Funding Agreement (this "**First Amendment**") is made and entered into this 13th day of February, 2025 ("**Effective Date**"), by and between Come and See Foundation, Inc. ("**Company**" or "**CAS**"), a North Carolina nonprofit corporation, and The Chosen Texas, LLC ("**Producer**"), a Texas limited liability company, and amends that certain Production Services and Funding Agreement (the "**PSFA**"), dated as June 13, 2024, as amended from-time-to-time, by and between CAS and Producer, in connection with the Project C audiovisual episodic series ("***Project C***"). CAS and Producer shall sometimes each be referred to herein as a "**Party**" and collectively as the "**Parties**." Capitalized words and phrases used in this First Amendment but not otherwise defined herein shall have the definitions ascribed to them in the PSFA.

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. WHEREAS, in accordance with CAS's Biblical Universe Project Right of First Negotiation, Producer submitted *Project C* to CAS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;II. WHEREAS, the Parties desire hereby to memorialize that CAS has accepted the Submitted Elements presented by Producer, including, without limitation, the estimated shooting schedule, the key cast, the writers, Key Man as the Showrunner, Key Man as the Director, and Key Man with creative approval and creative authority over *Project C*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;III. WHEREAS, CAS desires to engage Producer to develop, produce and deliver three

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) seasons comprised of eight (8) episodes of *Project C* subject to the terms and conditions set forth herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. WHEREAS, CAS and Producer are concurrently entering into that certain Second Amendment to the PSFA of even date herewith (the "**Second Amendment to PSFA**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V. WHEREAS, CAS and 5&2 Studios, Inc. (fka The Chosen, Inc.) ("**Distributor**"), a Delaware corporation, are concurrently entering into that certain Second Amendment (the "**Second Amendment to DMA**") and Third Amendment (the "**Third Amendment to DMA**") to the Amended and Restated Distribution License and Marketing Services Agreement of even date herewith (as amended from time-to-time, the "**DMA**"), in order to include and incorporate *Project C* as a "Program" (as defined and more particularly provided in the Second Amendment to DMA) pursuant to the DMA, as amended by such amendments to the DMA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. WHEREAS, CAS and Distributor are concurrently entering into that certain Trademark License Agreement with respect to *Project C* (as set forth in the Second Amendment to DMA) (the "**Project C Trademark License Agreement**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VII. WHEREAS, Distributor is entering into that certain SVOD Agreement with [\*\*\*], which SVOD Agreement includes [\*\*\*] agreement to license seasons 1 and 2 of *Project C* (with [\*\*\*] having the option to license season 3 of *Project C*) [\*\*\*].

**AGREEMENT**

NOW THEREFORE, in consideration of the agreements and mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree to amend and supplement the PSFA as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conditions Precedent</u>. The Parties shall have no obligations hereunder unless and until the full execution and delivery of the following documents (which are being entered into concurrently herewith): (i) this First Amendment; (ii) the Second Amendment to PSFA; (iii) the Second Amendment to DMA; (iv) the Third Amendment to DMA; (v) the Project C Trademark License Agreement; (vi) the Trademark License Agreement, dated as of July 21, 2025 between CAS and Distributor with respect to *The Chosen Adventures*; and (vii) the Merchandising Agreement dated as of July 21, 2025 between CAS and Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Chosen Brand</u>. CAS hereby approves use of the Chosen Brand in connection with *Project C*, a Biblical Universe Project, which approval is evidenced by the Project C Trademark License Agreement entered into concurrently herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Project C Services</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Company hereby engages Producer to produce and deliver each episode of Seasons 1, 2 and 3 of *Project C* (herein, a "**Project C Episode(s)**"). Each such season shall be referred to herein as a "**Project C Season(s)**"), the production and delivery of which shall be in accordance with the terms of the PSFA as amended and modified by the terms set forth herein ("**Project C Services**"). The distribution of each Project C Season shall be subject to the approval of CAS in its sole and absolute discretion. CAS has approved certain [\*\*\*] agreements and amendments, and a certain Lions Gate amendment, by written approval letter of even date herewith with respect to the Project C Seasons and The Chosen.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Project C Episode shall be deemed to be an "**Episode**" (as defined in the PSFA) of each Project C Season. The Project C Services shall be deemed to be included and incorporated herein by this reference as "**Services**" as such term is defined in the PSFA with respect to *Project C*. Producer shall cause the production and delivery of *Project C* pursuant to the Production Standards and the production and delivery schedule attached hereto as Schedule Project C PDS (as may be extended pursuant to Excluded Factors) (the "**Project C PDS**" and the Project C PDS shall be included in the references to the Production Delivery Schedule in the PSFA, as applicable to *Project C*). So long as Producer is performing the material Services (including the requisite services pursuant to the Key Man Affiliation) as related to *Project C* and is not in uncured, material breach of the PSFA, Producer's engagement hereunder to provide the Project C Services (including the services of Key Man pursuant to the Key Man Affiliation as related to *Project C*) on each Project C Season, including the exclusive producer services of Section 3(b) of the PSFA*.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Program</u>. The Parties agree that *Project C* shall be deemed to be a "Program" (and be included as the "Programs") under the PSFA as amended by this First Amendment, upon the terms and conditions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Term</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The "**Term**" of the PSFA shall be amended by this First Amendment to mean the period commencing as of the Agreement Date and continuing until the outside date set forth on the Project C PDS for Producer to complete and fully deliver the last episode of Season 3 of Project C.

First Amendment to PSFA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The [\*\*\*] Project C License provides that, "[5&2 Studios, Inc.] shall have the unilateral right to determine whether any Subsequent Season is produced." Such statement of right is applicable solely as between and among Producer and 5&2 Studios, Inc. (on the one hand), and [\*\*\*] (on the other) and does not affect Company's rights in and to any such Subsequent Season. As between Producer and Company, with respect to any subsequent season of *Project C* which may be proposed or follow the three (3) Project C Seasons (if any, each a "**Subsequent Season**"), Section 11 hereof shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Project C Key Man Affiliation</u>. All references to and conditions and requirements of the "Key Man Affiliation" in the PSFA shall apply to the Project C Episodes, Project C Seasons and *Project C, mutatis mutandis,* and shall be referred to as the "**Project C Key Man Affiliation**." Further thereto and for clarity, the Project C Key Man Affiliation shall require that Key Man provides to Producer his exclusive services as show runner of *Project C* and each episode thereof (meaning without limitation, the Key Man acts as the sole director of each *Project C* Episode, and as a credited writer of each *Project C* Episode, and as a producer or executive producer of each *Project C* Episode). The Project C Key Man Affiliation shall require that Key Man's professional services be on an exclusive to Producer during the principal photography of each *Project C* Episode of each Project C Season, pursuant to the Project C PDS; and his services be (i) on a first-priority basis during the period following completion of principal photography of each *Project C* Season through the complete delivery to [\*\*\*] for all of the Project C Episodes of the first two Project C Seasons (pursuant to the Project C PDS); and delivery to CAS for all of the Project C Episodes of the third Project C Season (pursuant to the Project C PDS); and (ii) on a first-priority basis (before and after delivery of all Project C Episodes of each *Project C* Season) as to marketing services and appearances respecting the initial release of each Project C Season, such services of a type and frequency being not less than those provided by the Key Man with respect to the theatrical and VOD releases of Season 4 of The Chosen ((i) and (ii) referred to as "**Project C Post and Marketing Priorities**"). Producer shall at all relevant times retain the services of the Key Man in connection with each of the Project C Episodes so as to effect and maintain the Project C Key Man Affiliation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Project B</u>. The Project B Election Period set forth in the PSFA is not amended by this First Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Production Funding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule AB to the PSFA shall be amended to include the aggregate budget amounts and caps for each *Project C* Season as set forth on <u>Schedule "A</u>" attached hereto and incorporated herein by reference (each a "**Project C Advance Budget Amount**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Company shall fund each such *Project C* Season in accordance with the process and procedures set forth in the PSFA and the conditions hereof and thereof (e.g., in accordance with the Approved Budget and Approved Cash Flow Schedule, etc.). With respect to *Project C*, all references to the "**Advance Budget Amount**" in the PSFA shall mean the Project C Advance Budget Amount. For each Project C Season, if the Initial Budget (with Budget Detail) is in reasonable conformity with Production Standards and the Production and Delivery Schedule and is equal to or less than the Project C Advance Budget Amount for such season, then such Initial Budget shall presumptively be deemed approved by Company, subject to the remaining terms and conditions provided herein. For clarity, any distribution agreement for the third Season of Project C (other than the Lions Gate agreement), is conditioned upon the approval of Company (in its sole and absolute discretion).

First Amendment to PSFA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Final Cost of a Project C Season is less than the Approved Budget for such applicable Season (such amount, if any, a "**Project C Underage**"), Company and Producer shall each be entitled to receive an amount equal to Fifty Percent (50%) of any such Project C Underage. Unused contingency reserve (reflected in the Approved Budget) shall be considered a Project C Underage, and Producer shall be entitled its share thereof, but Producer shall not be entitled to a Production Services Fee on unused contingency for which the Project C Underage fee is payable. With respect to the first and second *Project C* Seasons, CAS shall have the right to apply its portion of the Project C Underage to the second or third, as applicable, *Project C* Season.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) As provided in the PSFA and DMA, CAS is not required to become a guild signatory or guarantor. In the event any guild requests that Company provide financial assurances or other documents from Company with respect to *Project C*, Producer and Company shall cooperatively meet and confer with each other in good faith to resolve such guild requests towards the mutual objective of the commencement and continuation of the development and production of *Project C*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Production Services Fee</u>. Company shall pay to Producer the Production Services Fee for *Project C,* as defined and calculated in accordance with the provisions of Schedule PSF attached to the PSFA, as applicable to Final Cost of Season for each *Project C* Season. The Production Services Fee shall be calculated, accounted and paid in accordance with the Fee Accounting Schedule and subject to the Fee Holdback payable upon Delivery of the applicable Season.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Production Conditions</u>. In lieu of (i) Section 6 of the Production Conditions (attached to the PSFA as Schedule II) and (ii) Section 3 of the Designated Production Integrity Obligations and the Designated Production Conditions (attached to the PSFA as Schedule X), solely as applicable to *Project C,* Company shall have approval rights over the actor portraying "Project C" (and any replacement thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Derivative Productions of Project C</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) During the Term, neither Party shall have the right to develop, produce, finance or otherwise exploit (i) any Subsequent Season(s) (i.e., in addition to the three *Project C* Seasons), or (ii) a derivative work or production of *Project C* or other work that is principally based upon or derived from the Biblical Story associated with Project C (specifically including, without limitation, prequel, sequel, remake, spinoff, theatrical motion picture, television or streaming episodic or limited series or long-form program, live stage production, podcast, print publication, location based attraction, or live event) ([i] and [ii] referred to as a "**Project C Derivative Production**"), without the written approval of the other Party.

First Amendment to PSFA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) After expiration of the Term, if at any time Company elects develop, produce, finance or otherwise exploit a Project C Derivative Production, then if Key Man is still engaged with Producer in substantially the same capacity as he was on Project C (i.e., the substance of the Project C Key Man Affiliation), the Key Man shall have sole control over whether or not such Project C Derivative Production may be produced, and if Key Man approves production of such Project C Derivative Production, then Producer shall have the first opportunity (as provided herein) to develop, produce and/or commercially distribute the applicable Project C Derivative Production, and Key Man shall have the first opportunity (as provided herein) to write and direct (and produce, if desired) the applicable Project C Derivative Production. Even if the Key Man is not then engaged with Producer in substantially the same capacity as he was for Project C (i.e., the substance of the Project C Key Man Affiliation), Key Man shall retain approval and control over whether or not such a Project C Derivative Production may be produced. For clarity, if Key Man has provided his approval for the production of a Project C Derivative Production, such production may proceed only if CAS has also approved such production in its sole and absolute discretion, and CAS shall use commercially reasonable good faith efforts (subject to the Key Man's control of such production) to cause Producer to have the first opportunity (as defined herein) to develop, produce and/or commercially distribute the applicable Project C Derivative Production, but subject to Key Man retaining the creative authority (including green- lighting authority) over the applicable Project C Derivative Production. The foregoing notwithstanding, if Key Man is no longer active in the entertainment industry, then Company (and not Key Man) shall have sole and absolute discretion over whether a Project C Derivative Production may or shall be produced, and the creative control thereof. In furtherance of Producer (and Key Man) having the first opportunity as set forth in this paragraph, if the Project C Key Man Affiliation (or a substantially similar affiliation) is extant, the Parties shall enter into good faith discussions (which shall include the Key Man and Producer, or only the Producer, if Key Man is no longer active in the entertainment industry) for their potential creative and production services respecting such Project C Derivative Production. If Producer and Key Man are able and willing to provide such creative and production services (substantially of the type and quality as provided hereunder for the *Project C* Seasons) and the Parties agree to the terms of such services, then the Project C Derivative Production may proceed in accordance with such agreement. The Producer (if and as rendering its services) shall use Producer and Key Man exclusively for its rendering of such development and production services on the Project C Derivative Production (unless otherwise agreed by CAS in its sole and absolute discretion). If the Project C Key Man Affiliation (or a substantially similar affiliation) is not extant and Key Man has approved the potential Project C Derivative Production, or if Key Man is no longer active in the entertainment industry (each case being a "**Non-Affiliated Negotiation**"), Company shall have good faith negotiations with Producer respecting Producer's potential creative and production services respecting a Project C Derivative Production, for a period of thirty (30) days (the "**Project C Derivative Production Negotiation Period**"). For the foregoing first opportunity negotiations, or Non- Affiliated Negotiation, if the Parties do not agree in writing to material deal terms within the Project C Derivative Production Negotiation Period, then Company shall be free to develop, assign, produce, finance and/or distribute the applicable Project C Derivative Production as it determines in its sole and absolute discretion. For further clarity, the foregoing first look/first negotiation rights does not apply to any exploitation of Company's Reserved Rights as set forth in the Transaction Documents. Upon and after the expiration of a Project C Derivative Production Negotiation Period where no written agreement results, this provision shall no longer apply to any other Project C Derivative Production, and Company after such expiration shall be free to develop, assign, produce, finance and/or distribute such Project C Derivative Productions as it determines in its sole and absolute discretion.

First Amendment to PSFA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Nothing in this First Amendment provides Producer or Distributor with any distribution rights to Project C post-Term, except if and as expressly provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Defined Production Participation</u>. For its Project C Services, Producer shall be entitled to receive a Production Defined Participation as defined on <u>Exhibit A</u> attached hereto and incorporated herein by reference. For clarity, the Production Defined Participation payable to Producer is in lieu of any distribution fee being paid or payable to Distributor pursuant to the DMA, and the Exhibit A hereto shall be applied between CAS and Distributor with respect to the *Project C Series* (as defined in the DMA), in lieu of Section 8 of the DMA. For clarity, there is no and shall be no double accrual or accounting of the Production Defined Participation under the PSFA and DMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Miscellaneous</u>. (a) Corrigendum: The following typographical error in Section 1(e) of the PSFA, is hereby rectified by amending the phrase therein, "Company has obtained and shall continue to maintain" to read instead, "Producer has obtained and shall continue to maintain".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This First Amendment does not amend the DMA. This First Amendment is intended to amend only the direct matters specified in this First Amendment, and there are no intended implicit or indirect changes to (or waivers of) any provisions of the PSFA. In the event of a conflict between a provision of this First Amendment and a provision of the PSFA, the specific provision(s) of this First Amendment shall prevail over such conflicting provision(s) of the PSFA. The provisions of this First Amendment shall not be deemed to otherwise implicitly or indirectly amend the PSFA or waive any Party's rights thereunder, nor create any inference that a Party's rights thereunder are waived, amended or estopped. The PSFA (and all of the other agreements between Producer and CAS related to the PSFA) shall remain in full force and effect in accordance with their respective terms, as specifically amended hereby The recitals are hereby incorporated herein by this reference. This First Amendment may be signed in counterparts and PDF documents and photocopies may be used as an original. Signatures of the Parties so transmitted by PDF or other electronic means shall be deemed to be their original signatures for all purposes. The exchange of copies of this First Amendment and of signature pages by PDF or other electronic means from which a paper replica can be generated shall constitute effective execution for all purposes.

[***Signature Page to Follow***]

First Amendment to PSFA

IN WITNESS WHEREOF, the Parties have executed this First Amendment with effect as of the Effective Date.

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| | |
|:---|:---|
| COME AND SEE FOUNDATION, INC. | COME AND SEE FOUNDATION, INC. |
| By: | /s/ C. Ryan Dunham |
| Its: Ryan Dunham | Its: Ryan Dunham |
| Authorized Signatory | Authorized Signatory |
| THE CHOSEN TEXAS, LLC | THE CHOSEN TEXAS, LLC |
| By: |  |
| Its: Derral Eves | Its: Derral Eves |
| Authorized Signatory | Authorized Signatory |

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Signature Page to First Amendment to PSFA

IN WITNESS WHEREOF, the Parties have executed this First Amendment with effect as of the Effective Date.

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| | |
|:---|:---|
| COME AND SEE FOUNDATION, INC. | COME AND SEE FOUNDATION, INC. |
| By: |  |
| Its: Ryan Dunham | Its: Ryan Dunham |
| Authorized Signatory | Authorized Signatory |
| THE CHOSEN TEXAS, LLC | THE CHOSEN TEXAS, LLC |
| By: | /s/ Derral Eves |
| Its: Derral Eves | Its: Derral Eves |
| Authorized Signatory | Authorized Signatory |

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Signature Page to First Amendment to PSFA

Schedule A

[\*\*\*]

First Amendment to PSFA

**SCHEDULE Project C PDS**

[\*\*\*]

First Amendment to PSFA

**Exhibit A**

[\*\*\*]

First Amendment to PSFA