Document:

<PAGE>

                                                                    EXHIBIT 10.8

                 SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION

EXECUTIVE COMPENSATION

On February 2, 2006, after consideration of presentations and recommendations of
management and independent compensation consultants, and such other matters and
information as deemed appropriate, the Compensation Committee (the "Committee")
of the Board of Directors of the Company approved the following bonuses for 2005
and set the following salaries for 2006 for the named executive officers set
forth in the table below:

<TABLE>
<CAPTION>
                                                         AMOUNT OF                AMOUNT OF
EXECUTIVE OFFICER               TITLE                   2005 BONUS               2006 SALARY
-----------------         -------------------        ----------------           -------------
<S>                       <C>                        <C>                        <C>
David H. Lissy            CEO                        $        345,000           $     298,000
Mary Ann Tocio            President and COO          $        345,000           $     298,000
Elizabeth J. Boland       CFO and Treasurer          $         94,500           $     218,400
Stephen I. Dreier         CAO and Secretary          $         66,780           $     198,400
</TABLE>

Cash Incentive Plan. The Committee adopted a cash incentive plan for named
executive officers for 2006 (the "Bonus Plan"). Pursuant to the Bonus Plan, each
named executive officer is eligible for an annual target cash bonus award equal
to the percentage of annual salary set forth in the table below (the "Base
Bonus"). In addition to the Base Bonus, the Chief Executive Officer and
President and Chief Operating Officer are eligible to receive up to 150% of the
Base Bonus for significant overachievement of performance expectations (the
"Incremental Bonus"), providing the Chief Executive Officer and President and
Chief Operating Officer with a maximum bonus potential of up to 120% of their
annual salary.

<TABLE>
<CAPTION>
                                    BASE BONUS                 INCREMENTAL BONUS
EXECUTIVE OFFICER               (% OF 2006 SALARY)            (% OF 2006 SALARY)
<S>                             <C>                           <C>
David H. Lissy                        80%                            40%
Mary Ann Tocio                        80%                            40%
Elizabeth J. Boland                   55%                            N/A
Stephen I. Dreier                     35%                            N/A
</TABLE>Letter Agreements

 

EXHIBIT 10.1

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

Bonanza Master Fund Ltd.

Attn: Brian Ladin, Managing Director

Facsimile: (214) 987-4342

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 57,143 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 57,143 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

BONANZA MASTER FUND LTD.

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Brian Ladin
 	 
	 	 	Name:  	Brian Ladin 	 
	 	 	Title:  	Managing Director 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

JMG Triton Offshore Fund Ltd.

Attn: Jonathan Glaser, Member Manager

Facsimile: (310) 601-2890

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 14,286 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 14,286 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

JMG TRITON OFFSHORE FUND LTD.

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Jonathan Glaser
 	 
	 	 	Name:  	Jonathan Glaser 	 
	 	 	Title:  	Managing Member 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

JMG Capital Partners, L.P.

Attn: Jonathan Glaser, Member Manager

Facsimile: (310) 601-2890

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 14,286 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 14,286 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

JMG CAPITAL PARTNERS, L.P.

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Jonathan Glaser
 	 
	 	 	Name:  	Jonathan Glaser 	 
	 	 	Title:  	General Partner 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

WS Opportunity Fund International, Ltd.

Attn: Patrick Walker, Member

Facsimile: (214) 756-6079

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 4,713 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 4,713 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

WS OPPORTUNITY FUND INTERNATIONAL, LTD.

	 	 	 	 	 
	 	 	 
	 	By:  	WS Ventures Management, L.P.,
 	 
	 	 	as agent and attorney-in-fact 	 
	 	 	 
	 	By:  	WSV Management, L.L.C., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Patrick P. Walker
 	 
	 	 	Patrick Walker, Member 	 
	 	 	 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

WS Opportunity Fund, L.P.

Attn: Patrick Walker, Member

Facsimile: (214) 756-6079

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 3,424 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 3,424 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

WS OPPORTUNITY FUND, L.P.

	 	 	 	 	 
	 	 	 
	 	By:  	WS Ventures Management, L.P.,
General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	                WSV Management, L.L.C., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Patrick P. Walker
 	 
	 	 	Patrick Walker, Member 	 
	 	 	 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

WS Opportunity Fund (QP), L.P.

Attn: Patrick Walker, Member

Facsimile: (214) 756-6079

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 3,291 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 3,291 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

WS OPPORTUNITY FUND (QP), L.P.

	 	 	 	 	 
	 	 	 
	 	By:  	                WS Ventures
Management, L.P.,
General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	                WSV Management, L.L.C., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Patrick P. Walker
 	 
	 	 	Patrick P. Walker, Member 	 
	 	 	 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

SRB Greenway Capital, L.P.

Attn: Steven Becker, Member

Facsimile: (214) 756-6079

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 349 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 349 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

SRB GREENWAY CAPITAL, L.P.

	 	 	 	 	 
	 	 	 
	 	By:  	                 SRB Management, L.P., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	                 BC Advisors, L.L.C., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Steven R. Becker
 	 
	 	 	Steven R. Becker, Member 	 
	 	 	 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

SRB Greenway Offshore Operating Fund, L.P.

Attn: Steven Becker, Member

Facsimile: (214) 756-6079

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 184 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

	1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 184 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

SRB GREENWAY OFFSHORE OPERATING FUND, L.P.

	 	 	 	 	 
	 	 	 
	 	By:  	                 SRB Management, L.P., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	                 BC Advisors, L.L.C., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Steven R. Becker
 	 
	 	 	Steve Becker, Member 	 
	 	 	 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

 

 

[HOLLYWOOD MEDIA CORP. LETTERHEAD]

March 15, 2006

VIA FACSIMILE

SRB Greenway Capital (QP), L.P.

Attn: Steven Becker, Member

Facsimile: (214) 756-6079

Ladies and Gentlemen:

     Reference is made to the 8% Senior Unsecured Note due November 23, 2006 dated November 23,
2005 (the “Note”) issued by Hollywood Media Corp. (the “Company”) to you. Capitalized terms used
but not otherwise defined shall have the meanings ascribed to such terms in the Note.

     Pursuant to the terms of Section 6 of the Note, the Company may extend the Maturity Date for a
period not to exceed six months from the original Maturity Date by delivering written notice to the
Holder. Upon the execution and delivery of this letter agreement by the Company and the Holder,
the Company hereby extends the Maturity Date for a period of six months from the original Maturity
Date; the Maturity Date, as so extended, shall be May 23, 2007.

     In addition, pursuant to the terms of Section 6(b) of the Note, the Company must, within three
Trading Days of the date hereof, deliver to you an Extension Warrant to purchase 2,324 shares of
Company common stock.

     In light of the impossibility of determining the exercise price of the Extension Warrant based
on the definition provided in the Note, upon extension of the Maturity Date, the Holder and the
Company agree to amend the definition of Extension Warrants contained in the Note to clarify that
the exercise price shall be $4.29.

     The Company and the Holder agree as follows:

1. Amendment to Definition of “Extension Warrants”. The definition of “Extension Warrants”
in Section 1 of the Note is amended and restated to read as follows:

     ““Extension Warrants” means warrants in the form of the Warrants (i) to
purchase 2,324 shares of Common Stock (subject to adjustment for any stock
dividend, or subdivision or combination of the Common Stock), (ii) exercisable
immediately following the date of issuance thereof, (iii) with an exercise price
equal to $4.29 (subject to adjustment for any stock dividend, or subdivision or
combination of the Common Stock), and (iv) a term of exercise ending on the same
date as that of the Warrants.”

     Except as amended or modified by this letter, all other terms and conditions of the Note shall
remain in full force and effect. If the foregoing amendment is acceptable to you, please sign in
the space indicated below. This letter may be executed in counterparts.

	 	 	 	 	 
	 	Sincerely,

HOLLYWOOD MEDIA CORP.

 	 
	 	By:  	/s/ Mitchell Rubenstein
 	 
	 	 	Name:  	Mitchell Rubenstein 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

Agreed and Accepted:

SRB GREENWAY CAPITAL (QP), L.P.

	 	 	 	 	 
	 	 	 
	 	By:  	SRB Management, L.P., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	BC Advisors, L.L.C., General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	/s/ Steven R. Becker
 	 
	 	 	Steven R. Becker, Member 	 
	 	 	 	 
	 

2255
Glades Road • Suite 221A • Boca Raton, Florida 33431-7383

Telephone (561) 998-8000 • Fax (561) 998-2974

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]