Document:

Form of Unit Purchase Agreement

 Exhibit 10.21 
 UNIT PURCHASE AGREEMENT 
 THIS UNIT PURCHASE AGREEMENT dated as of
January     , 2007 (this “Agreement”), is among National CineMedia, Inc., a Delaware corporation (“NCM Inc.”), American Multi-Cinema, Inc., a Delaware corporation
(“AMC”), Cinemark Media, Inc., a Delaware corporation (“Cinemark”), and Regal CineMedia Holdings, LLC, a Delaware limited liability company (“Regal,” and together with AMC and Cinemark,
the “Founding Members”). Certain capitalized terms used in this Agreement are defined in Section 1.1. 
 RECITALS

 A. AMC, Cinemark and Regal are currently the only members of National CineMedia, LLC, a Delaware limited liability company
(“NCM LLC”). 
 B. NCM Inc. is contemplating an offer and sale of its Common Stock to the public in an
underwritten initial public offering (the “IPO”). 
 C. The Underwriters have required as a condition to entering into the
Underwriting Agreement that NCM Inc. grant the Underwriters an option to purchase up to an additional 4,000,000 shares of Common Stock from NCM Inc. to cover over-allotments of shares in the IPO (the “Over-allotment”) and have
required that they be third-party beneficiaries of this Agreement. 
 D. As a condition to entering into the Underwriting Agreement and
agreeing to the Over-allotment, NCM Inc. has required that the Founding Members sell to NCM Inc., a number of LLC Units equal to the number of shares of Common Stock sold pursuant to the Over-allotment at a price per LLC Unit equal to the Net
Proceeds. 
 E. The Underwriting Agreement provides that each of the Founding Members shall execute a lock-up agreement in the form attached
hereto as Exhibit A (the “Lock-Up Agreement”) as a condition to the obligations of the Underwriters under the terms of the Underwriting Agreement. 
 AGREEMENT 
 In consideration of the covenants and agreements contained herein
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, NCM Inc. and the Founding Members agree as follows: 

 1. Definitions 
 1.1 Certain Definitions. For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1.1: 
 “Common Stock” means the common stock, par value $0.01 per share, of NCM Inc. 
 “Encumbrance” means any security interest, lien, mortgage, claim, charge, pledge, restriction, option, reservation, equitable interest,
deed of trust, right of first refusal or encumbrance of any nature. 
 “LLC Units” means the Units of NCM LLC, as defined in
the NCM LLC Third Operating Agreement, as they may be adjusted in connection with the IPO. 
 “NCM LLC Third Operating
Agreement” means the Third Amended and Restated Limited Liability Company Operating Agreement of NCM, LLC, substantially in the form attached as Exhibit 3.6 to NCM Inc.’s Registration Statement. 
 “Net Proceeds” means the price per share at which shares of Common Stock are sold to the public in the IPO, less underwriting discounts
and commissions and a pro-rata portion of the expenses incurred by the Company related to the sale of shares pursuant to the Over-allotment. 
 “Option” means the Underwriters’ over-allotment option set forth in Section 3 of the Underwriting Agreement. 
 “Purchase Date” means the date and time or dates and times on which NCM, Inc. sells shares of Common Stock to the Underwriters pursuant to the Over-allotment. 
 “Registration Statement” means Registration Statement (No. 333-137976), filed on October 13, 2006, Amendment No. 1 to the
Registration Statement filed on November 21, 2006, Amendment No. 2 filed on December 20, 2006, Amendment No. 3 filed on January 11, 2007 and as it may be further amended. 
 “Underwriting Agreement” means the underwriting agreement, substantially in the form attached as Exhibit 1.1 to the Registration
Statement. 
 “Underwriters” means the underwriters named in Schedule A to the Underwriting Agreement. 
 1.2 Additional Terms. In addition to defined terms identified in Section 1.1, the following terms have the meanings assigned in the Sections
referred to in the table below: 
  

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	 Term
	  	 Section
	  	 Term
	  	 Section

	AMC	  	Preamble	  	Over-allotment	  	Recitals
	Cinemark	  	Preamble	  	Purchase	  	2.5
	Founding Members	  	Preamble	  	Purchase Notice	  	2.3
	IPO	  	Recitals	  	Purchase Price	  	2.4
	Lock-Up Agreement	  	Recitals	  	Purchased Units	  	2.1
	NCM Inc.	  	Preamble	  	Regal	  	Preamble

 2. Purchase of LLC Units; Purchase Price; Closing. 
 2.1 Purchase of LLC Units. Each Founding Member, severally and not jointly, agrees to sell and deliver to NCM Inc. on the Purchase Date, free and
clear of all Encumbrances, a number of LLC Units (collectively, the “Purchased Units”) equal to (x) the number of shares (not to exceed 4,000,000 shares) of Common Stock to be sold by NCM, Inc. pursuant to the Over-allotment
multiplied by (y) the ownership percentage of such Founding Member in NCM LLC immediately prior to the consummation of the IPO. NCM Inc. agrees to buy and accept on the Purchase Date such Purchased Units. For the avoidance of doubt, the sale of
Common Stock pursuant to the Over-allotment, if any, and the purchase of LLC Units pursuant to the terms of this Agreement shall be effected simultaneously. 
 2.2 Purchase Contingent. NCM Inc. agrees and acknowledges that the Founding Members’ obligations to sell any of the Purchased Units are contingent upon the Underwriters’ exercise of their Option. The
Founding Members agree and acknowledge that NCM Inc.’s obligation to purchase any of the Purchased Units is contingent upon the Underwriters’ exercise of their Option. If the Underwriters exercise their Option, NCM Inc. will, simultaneous
with the sale of Common Stock by NCM Inc. to the Underwriters pursuant to the Over-allotment, purchase such number of Purchased Units from the Founding Members equal to the number of shares of Common Stock purchased by the Underwriters from NCM Inc.
pursuant to the Over-allotment. 
 2.3 Purchase Notice. NCM Inc. shall give each Founding Member written notice (the “Purchase
Notice”) not less than one business day prior to the Purchase Date, which Notice shall also specify the number of Purchased Units being purchased. The Purchase Notice may be conditioned upon the simultaneous sale of Common Stock pursuant to
the Over-allotment. 
 2.4 Purchase Price. The price (the “Purchase Price”) for each of the Purchased Units shall be
an amount equal to the Net Proceeds. From and after each Purchase Date, unless there shall have been a default in payment of the consideration for the Purchased Units being purchased on such date, all rights of each Founding Member of, and the
obligations of NCM Inc. with respect to, such Purchased Units (except each Founding Member’s right to receive, and NCM Inc.’s obligation to pay, the Purchase Price therefor pursuant to this Agreement) shall cease with respect to such
Purchased Units. 
  

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 2.5 Purchase. The closing or closings, if any, (collectively, the “Purchase”) of
the transactions contemplated hereby shall be held at the offices of Holme Roberts & Owen LLP, 1700 Lincoln Street, Suite 4100, Denver, Colorado on the Purchase Date. 
 2.6 Closing Deliverables. 
 (a) Each Founding Member shall deliver, or cause to be delivered, to NCM Inc. on the Purchase Date: 
 (i)
certificate(s) representing the Purchased Units being sold by such Founding Member, in each case duly endorsed in blank or accompanied by transfer powers duly endorsed in blank, in proper form for transfer, with appropriate transfer tax stamps, if
any, affixed; and 
 (ii) all other customary documents, instruments or certificates as shall be reasonably requested by NCM
Inc. and as shall be consistent with the terms of this Agreement. 
 (b) NCM Inc. shall deliver, or cause to be delivered, to
each of the Founding Members on the Purchase Date the Purchase Price for each Purchased Unit by wire transfer of immediately available funds to accounts designated by such Founding Member in writing prior to the Purchase Date. 
 2.7 Closing Costs; Transfer Taxes and Fees. The Founding Members shall each be responsible for the documentary and transfer taxes and any sales or
other taxes, if any, imposed by reason of the transfer of the LLC Units under this Agreement and any deficiency, interest or penalty asserted with respect thereto. 
 3. Lockup Agreements. The Founding Members acknowledge that the execution and delivery of a Lock-Up Agreement by each Founding Member is a condition to the obligations of the Underwriters under the terms of the Underwriting Agreement
and each Founding Member agrees, severally and not jointly, to execute and deliver the Lock-Up Agreements as requested by NCM Inc. at or prior to the First Closing Date (as defined in the Underwriting Agreement). 
 4. Representations and Warranties of the Founding Members. As of the date of this Agreement (except with respect to Section 4.3 below) and as of each Purchase
Date, each Founding Member represents and warrants, severally and not jointly, to NCM Inc. as follows: 
 4.1 Organization; Good Standing;
Qualification. Such Founding Member is a corporation or limited liability company, duly organized and validly existing under 

  

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the laws of the state of its incorporation or formation, and is in good standing under such laws. Such Founding Member is in good standing and qualified to
do business in every jurisdiction where the failure to so qualify would have a material adverse effect on its ability to enter into this Agreement or to consummate the transactions contemplated hereby. 
 4.2 Authorization. The execution, delivery and performance of this Agreement and the sale of the LLC Units have been duly authorized by such
Founding Member. This Agreement constitutes the legal, valid and binding obligation of the Founding Member enforceable against the Founding Member in accordance with its terms. 
 4.3 Title to the LLC Units. As of each Purchase Date, the Founding Member owns, and has good and marketable title to the number of LLC Units it
has agreed to sell pursuant to the terms of this Agreement on such Purchase Date. Except for restrictions set forth in the NCM LLC Third Operating Agreement, the Founding Member holds such LLC Units free and clear of any Encumbrance. 
 4.4 Consents. Except as has been obtained or will be obtained prior to each Purchase Date, no consent, approval or authorization of, or
designation, declaration or filing with, any governmental authority or other third party on the part of such Founding Member is required in connection with the execution and delivery of this Agreement or the consummation of the transactions
contemplated hereby. 
 5. Representations and Warranties of NCM Inc. As of the date of this Agreement and as of each Purchase Date, NCM Inc. hereby
represents and warrants to each Founding Member as follows: 
 5.1 Organization; Good Standing; Qualification. NCM Inc. is a
corporation duly organized and validly existing under the laws of the State of Delaware and is in good standing under such laws. NCM Inc. is in good standing and qualified to do business in every jurisdiction where the failure to so qualify would
have a material adverse effect on its ability to enter into this Agreement or to consummate the transactions contemplated hereby. 
 5.2
Authorization. The execution, delivery and performance of this Agreement and the purchase of the Purchased Units have been duly authorized by NCM Inc. This Agreement constitutes the legal, valid and binding obligation of NCM Inc. enforceable
against NCM Inc. in accordance with its terms. 
 5.3 Consents. Except as has been obtained or will be obtained prior to each Purchase
Date, no consent, approval or authorization of, or designation, declaration or filing with, any governmental authority or other third party on the part of NCM Inc. is required in connection with the execution and delivery of this Agreement or the
consummation of the transactions contemplated hereby. 
  

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 6. Termination. If (i) the Underwriting Agreement is terminated for any reason such that NCM Inc. has no
obligation to deliver the Over-allotment or the Lock-Up Agreements or (ii) the Underwriters do not exercise their option to purchase some or all of the Over-allotment under Section 3 of the Underwriting Agreement within the time frame
permitted therein, this Agreement shall terminate and neither the Founding Members nor NCM Inc. shall have any further obligations hereunder or with respect hereto. 
 7. Covenants. 
 7.1 Further Assurances. From time-to-time and after the date hereof, each
Founding Member shall deliver or cause to be delivered to NCM Inc. and NCM LLC such further documents and instruments and shall do and cause to be done such further acts as NCM Inc. and NCM LLC shall reasonably request to carry out more effectively
the provisions and purposes of this Agreement. 
 7.2 No Transfer or Encumbrance. No Founding Member shall sell, exchange,
encumber, transfer or otherwise dispose of, or create (or permit to be created) an Encumbrance (except as expressly set forth in the NCM LLC Third Operating Agreement) on, the LLC Units of such Founding Member to be transferred under this Agreement.

 8. Miscellaneous 
 8.1 Governing
Law. This Agreement shall be governed by and construed in all respects in accordance with the laws of the State of Delaware without giving effect to principles of conflicts of law. 
 8.2 Notices. All notices, demands or other communications to be given under or by reason of this Agreement shall be in writing, shall be delivered
by hand or sent by facsimile, electronic mail or nationally recognized overnight delivery service and shall be deemed given when received when addressed as follows: 
  

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	 If to NCM Inc.:
  
 National CineMedia, Inc.
 9110 East
Nichols Avenue
 Suite 200
 Centennial CO 80112-3405
 Attention:
[                    ]
 Fax:
[                    ]
  
  
 with a copy to:
  
 Holme Roberts & Owen LLP
 1700 Lincoln Street, Suite 4100
 Denver, Colorado 80203-4541
 Attention: W. Dean Salter
 Fax: (303) 866-0200
	  	 If to AMC:
  
 American Multi-Cinema, Inc.
 920 Main Street
 Kansas City, MO 64105
 Attention: Kevin M. Connor
 Fax: (816) 480-4700
  
 with a copy to:

 
 Latham & Watkins LLP
 885 Third Avenue
 New York, NY 10022
 Attention: David S. Allinson
 Fax: (212) 751-4864

		
	 If to Cinemark:
  
 Cinemark Media, Inc.
 c/o Cinemark
Holdings, Inc.
 3900 Dallas Parkway, Suite 500
 Plano, Texas 75093
 Attention: Robert Copple
 Fax: (974) 665-1003
  
  
 with a copy to:
  
 Cinemark Media, Inc.
 c/o Cinemark Holdings, Inc.
 3900
Dallas Parkway, Suite 500
 Plano, Texas 75093
 Attention: Michael Cavalier
 Fax: (974) 665-1003
	  	 If to Regal:
  
 Regal CineMedia Holdings, LLC
 7132 Regal Lane
 Knoxville, TN 37918
 Attention: General Counsel
 Fax: (865) 922-6085
  
 with a copy to:

 
 Hogan & Hartson, L.L.P.
 1200 Seventeenth Street, Suite 1500
 Denver, CO 80202
 Attention: Christopher J. Walsh
 Fax: (303) 899-7333

  

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	 If to Credit Suisse Securities (USA) LLC
 Credit Suisse Securities (USA) LLC
 Eleven Madison Avenue
 New York, N.Y. 10010-3629
  
 with a copy to:
  
 Skadden, Arps, Slate, Meagher & Flom LLP
 300 South Grand Avenue, Suite 3400
 Los Angeles, California 90071
 Attention: Casey T. Fleck, Esq.
 Fax:
(213) 687-5600

 Any party to this Agreement may change its address for notices, demands and other communications
under this Agreement by giving notice of such change to the other party hereto in accordance with this Section 8.2. 
 8.3
Survival. The representations, warranties, covenants and agreements made herein shall survive any investigation made by any of the parties hereto and the closing of the transactions contemplated hereby. 
 8.4 Benefit of Parties; Assignment. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors, legal representatives and permitted assigns. This Agreement may not be assigned by either NCM Inc. or any Founding Member except with the prior written consent of the other parties hereto; provided, however, no prior consent shall
be required for an assignment by NCM Inc. of this Agreement to an affiliate of NCM Inc. Nothing herein contained shall confer or is intended to confer on any third party or entity that is not a party to this Agreement any rights under this
Agreement. 
 8.5 Amendment. This Agreement may not be amended, waived, modified, altered or supplemented except by means of a written
instrument executed by (i) the parties whose rights or obligations are amended, waived, modified, altered or supplemented and (ii) Credit Suisse Securities (USA) LLC. 
 8.6 Waiver. No failure on the part of any party hereto to exercise any power, right, privilege or remedy under this Agreement, and no delay on the
part of any party hereto in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further
exercise thereof or of any other power, right, privilege or remedy. 
  

 8 

 8.7 Severability. If any provision of this Agreement is held invalid or unenforceable by any court
of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held
invalid or unenforceable. 
 8.8 Entire Agreement. This Agreement sets forth the entire understanding of parties hereto and supersedes
all other agreements and understandings between the parties hereto relating to the subject matter hereof. 
 8.9 Counterparts and
Facsimiles. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered
to the other. The parties hereto may execute the signature pages hereof and exchange such signature pages by facsimile transmission. 
 8.10
Interpretation of Agreement. 
 (a) As used in this Agreement, the words “include” and “including,”
and variations thereof, shall not be deemed to be terms of limitation, and shall be deemed to be followed by the words “without limitation.” 
 (b) The Section headings contained in this Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this
Agreement. 
 (c) Each party hereto and its counsel cooperated in drafting and preparation of this Agreement and the documents
referred to in this Agreement. Any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against the party that drafted it is of no application and is hereby expressly waived. 
 8.11 Third-Party Beneficiaries. The Underwriters shall be third-party beneficiaries of this Agreement and it shall be enforceable by them as
though they were signatories hereto. 
 [Signature page to follow] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year
first above written. 
  

			
	NCM INC.:
	
	NATIONAL CINEMEDIA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	AMC:	 	
	
	AMERICAN MULTI-CINEMA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	CINEMARK:
	
	CINEMARK MEDIA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	REGAL:
	
	REGAL CINEMEDIA HOLDINGS, LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signature page of Common Unit Purchase Agreement] 

 Exhibit A 
 Form of Lock-Up Agreement 
  

 A-1Form of ESA Payment Letter

 Exhibit 10.22 
 January         , 2007 
 American Multi-Cinema, Inc. 
 920 Main Street 
 Kansas City, Missouri 64105 
 Cinemark USA, Inc. 
 3900 Dallas Parkway, Suite 500 
 Plano, Texas 75093 
 Regal Cinemas, Inc. 
 7132 Regal Lane 
 Knoxville, Tennessee 37918 
  

	Re:	 	Final Circuit Share Payments 

 Gentlemen:

 National CineMedia, Inc., a Delaware corporation (“NMC Inc.”), is undertaking a sale of its common stock in an initial public
offering (the “IPO”). On the date of the IPO (the “Effective Date”) (i) NCM Inc. will use the net proceeds from the IPO to purchase newly issued common membership units in National CineMedia, LLC,
a Delaware limited liability company (“NCM LLC”), (ii) American Multi-Cinema, Inc., a Missouri corporation (“AMC”), Cinemark Media, Inc., a Delaware corporation, Regal CineMedia Holdings, LLC, a
Delaware limited liability company, and NCM Inc. will amend and restate the Amended and Restated Limited Liability Company Operating Agreement of National CineMedia, LLC, dated as of July 15, 2005, as amended, for the purposes of admitting NCM
Inc. as a member in, and designating NCM Inc. as the sole manager of, NCM LLC, and (iii) NCM LLC will enter into Exhibitor Services Agreements (the “New ESAs”) with each of AMC, Cinemark USA, Inc., a Texas corporation
(“Cinemark USA”), and Regal Cinemas, Inc., a Tennessee corporation (“Regal Cinemas”). 
 The New ESAs will
terminate (i) the Amended and Restated Exhibitor Services Agreements, dated as of July 15, 2005, between (x) NCM LLC and AMC (the “AMC ESA”), and (y) NCM LLC and Regal Cinemas (the “Regal
ESA”), and (ii) the Exhibitor Services Agreement, dated as of July 15, 2005, between NCM LLC and Cinemark USA (the “Cinemark ESA”; each of the AMC ESA, the Regal ESA and the Cinemark ESA shall be
referred to as an “Original ESA”). In addition to payments provided for under the New ESAs, on termination of each Original ESA, AMC, Cinemark USA and Regal Cinemas will be entitled to receive the Circuit Share Fees (as
defined in the applicable Original ESA), calculated through the date immediately preceding the Effective Date (each a “Final Circuit Share Payment”), owed by NCM LLC under each Original ESA. This letter confirms that, on or
before 30 days following the Effective Date, NCM LLC will calculate and pay the Final Circuit Share Payment that each of AMC, Cinemark USA and Regal Cinemas is entitled to receive under the applicable Original ESA, in complete satisfaction of all
amounts due and owing thereunder. Each Final Circuit Share Payment shall be accompanied by a detailed accounting of how the Final Circuit Share Payment was calculated. Any dispute regarding a Final Circuit Share Payment shall be resolved in
accordance with the 

 
terms of the applicable Original ESA (solely for purposes of resolving any such dispute, the provisions of the applicable Original ESA regarding dispute
resolution shall survive the Effective Date until the dispute has been finally resolved). 
 Please acknowledge your
agreement to this letter by signing in the space indicated below. 
  

			
	 Very truly yours,
  
 NATIONAL CINEMEDIA, LLC

		
	 By:
	 	  
	 Name:
	 	  
	 Title:
	 	  

  

			
	 AGREED AND ACCEPTED as of the date first written above.
  

AMERICAN MULTI-CINEMA, INC.

		
	 By:
	 	  
	 Name:
	 	  
	 Title:
	 	  

  

			
	CINEMARK USA, INC.
		
	 By:
	 	  
	 Name:
	 	  
	 Title:
	 	  

  

			
	REGAL CINEMAS, INC.
		
	 By:
	 	  
	 Name:
	 	  
	 Title:
	 	  

  

 2

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