Document:

Second Amendment to Formal Agreement

 Exhibit 10.56 
 SECOND AMENDMENT TO FORMAL AGREEMENT 
 This
Second Amendment to Formal Agreement (this “Amendment”) is entered into effective as of the Effective Date, defined below, by and between Dr. Seuss Enterprises, L.P., a California limited partnership (“DSE”)
and USI Asset Transfer LLC, a Delaware limited liability company (“Universal”), as successor in interest to Universal Studios, Inc., a Delaware corporation formerly known as MCA Inc., with reference to the following facts (DSE and
Universal are collectively referred to herein as the “Parties” and each individually as a “Party”). 
 RECITALS 
 A. DSE and MCA Inc. executed that certain Formal Agreement dated as of April 21, 1994 (as
amended by the First Amendment (as defined below), the “Formal Agreement”), pursuant to which DSE granted to MCA Inc. certain rights to exploit certain elements of the literary works of Theodor S. Geisel, also known as
Dr. Seuss, that were and are owned by DSE (collectively, as more particularly defined in the Formal Agreement, the “Dr. Seuss Elements”), in connection with the Universal’s Islands of Adventure theme park
(“UIOA”) in Orlando, Florida, referred to in the Formal Agreement as the “Second Gate”. Also pursuant to the Formal Agreement, DSE granted to MCA Inc. exclusive rights to exploit the Dr. Seuss Elements in Attractions
at Theme Parks throughout the world. 
 B. MCA Inc. changed its name to Universal Studios, Inc. on or about December 9,
1996. DSE and Universal Studios, Inc. amended the Formal Agreement pursuant to a First Amendment to Agreement dated October 1, 1997 (the “First Amendment”). Pursuant to a Contribution Agreement dated as of April 24, 2002,
Universal Studios, Inc. contributed all of its right, title and interest in, to and under the Formal Agreement to Universal. At the time of such contribution, Universal Studios, Inc. indirectly owned, and as of the date hereof, Universal Studios,
Inc. indirectly owns, through various intermediate entities, all right, title and interest in and to Universal. 
 C. By an
agreement dated September 25, 2000, DSE agreed that Universal Studios, Inc. could exploit certain rights with respect to both the story and motion picture versions of Dr. Seuss’ How the Grinch Stole Christmas (collectively, the
“Grinch Works”) for a promotional event in connection with the release of the motion picture consisting of a holiday-themed “Grinchmas” event at the Universal Orlando and Universal Studios Hollywood theme parks and
CityWalks. Concurrently herewith, the Parties have entered into that certain 2009 Grinchmas Agreement (the “Grinchmas Agreement”), which Grinchmas Agreement will henceforth govern the respective rights and obligations of the Parties with
regard to Grinchmas events at any and all Universal locations. 

 AGREEMENT 
 Effective as of the Effective Date, the Parties hereby agree as follows: 
 1. Definitions. The definitions set forth in the Recitals and this Paragraph 1 shall apply to capitalized terms used in this Amendment. Any capitalized terms used in this Amendment without
definition have the respective meanings assigned to such terms in the Formal Agreement. 
 1.1 “Approved Food and
Beverages” means Seuss-themed healthy food and beverages developed by Universal, any Permitted Assignee or any Limited Assignee in conjunction with DSE’s Executive Vice-President of Licensing and Marketing, consisting of three
(3) food options for each of the following categories: appetizers, entrees, side dishes, and beverages, for a total of 12 items. All such items may bear fanciful Seuss designations, such as Thidwick’s Moose Moss (for a green salad), Cool
Nool Pool Water (for a container of water), and so forth. For purposes of this Agreement, “healthy food” shall mean food that is of lower fat, sugar, and caloric content than the food typically sold as “fast food” and, by way of
illustration only, may include such items as a grilled chicken breast sandwich, carrot and celery sticks, green salad, apple slices, and raisins, and should not include fried foods, soda pop, and sugary confections. The Parties agree that the
foregoing names are for illustrative purposes only and are not required to be used or necessarily approved by DSE. 
 1.2
“Attraction Year” shall mean the year commencing on the date that a ride attraction at an Eligible Theme Park themed to Dr. Seuss Elements opens to the public, and each year commencing on any annual anniversary of such date.

 1.3 “Dr. Seuss Property” shall mean each property listed in Exhibit A to the Formal Agreement, provided that
any such properties that are related in characters, theme and/or content (such as The Cat in the Hat and The Cat in the Hat Comes Back) shall be considered a single Dr. Seuss Property. 
 1.4 “Effective Date” shall mean the date of full execution of this Amendment, as evidenced by the dates of execution under
the respective signature lines of this Amendment. 
 1.5 “Eligible Theme Park” shall mean a Theme Park located
in any of the Retained Territories at which any Dr. Seuss Elements are not being exploited as of the Effective Date. 
 1.6
“Limited Assignee” has the meaning set forth in Paragraph 4 hereof. 
 1.7 “Permitted
Assignee” shall mean (i) the owner or operator of UIOA, and (ii) a single assignee acquiring all or substantially all of Universal’s assets. 
 1.8 “Retained Territories” shall mean the United States, the United Kingdom, the United Arab Emirates, the Peoples Republic of China, and South Korea. 
 2. Relinquishment of Exclusive Rights. Effective as of the Effective Date, and subject to all applicable provisions of this Amendment, Universal
relinquishes to DSE all of Universal’s exclusive rights, pursuant to Article IV of the Formal Agreement, to exploit the Dr. Seuss

  

 2 

 
Elements at Theme Parks located anywhere in the world, except that Universal shall retain exclusive rights to exploit the Dr. Seuss Elements at and in connection with Theme Parks located in
the Retained Territories. As of the Effective Date, DSE shall own the exclusive rights hereby relinquished by Universal. 
 3. Exploitation
of Dr. Seuss Elements in Retained Territories. For purposes of this Paragraph 3, each reference to “Universal” shall be deemed to mean “Universal, a Permitted Assignee or a Limited Assignee.” 
 3.1 Timing of Exploitation. Subject to all applicable provisions of this Amendment, in order for Universal to exploit any
Dr. Seuss Elements at or in connection with an Eligible Theme Park, Universal must: 
 3.1.1 Within five (5) years
after the Effective Date, with respect to each such exploitation, pay to DSE either of the following amounts: 
 (a) The amount
described in Section IV.B. of the Formal Agreement as the amount payable upon the first public announcement that such Eligible Theme Park will contain Dr. Seuss Elements (or the commencement of construction of Dr. Seuss Attractions at such
Eligible Theme Park, whichever occurs first), if such exploitation of Dr. Seuss Elements is to be effected (or, pursuant to Paragraph 3.2 hereof, is required to be effected) in accordance with Article IV of the Formal Agreement; or 

(b) The license fee amount for the first Attraction Year of the applicable exploitation at such Eligible Theme Park as set forth in
Paragraph 3.3.7, if such exploitation of Dr. Seuss Elements is to be effected in accordance with Paragraph 3.3. 
 3.1.2
Upon the fifth (5th) anniversary of the Effective Date, all of Universal’s exclusive rights to exploit the Dr. Seuss Elements at an Eligible Theme Park for which a payment described in this Section 3.1 has not been made shall
lapse and revert to DSE. 
 3.2 Exploitation in Accordance with Formal Agreement. 
 3.2.1 Any exploitation of Dr. Seuss Elements in an Eligible Theme Park located within the United Kingdom or the People’s Republic
of China must be effected in accordance with Article IV of the Formal Agreement, including the financial terms set forth in Section IV.B. thereof. 
 3.2.2 Any exploitation of Dr. Seuss Elements in an Eligible Theme Park located within any of the other Retained Territories may be effected either (i) in accordance with Article IV of the
Formal Agreement, including the financial terms set forth in Section IV.B. thereof, or (ii) in accordance with Paragraph 3.3 hereof. 
 3.2.3 In the event of any exploitation of Dr. Seuss Elements in an Eligible Theme Park in accordance with Article IV of the Formal Agreement, all other applicable provisions of the Formal Agreement
shall apply to such exploitation, including: 
 (a) The approval and consultation provisions of Article II of the Formal
Agreement; 
  

 3 

 (b) All of the Terms and Conditions attached as Exhibit B to the Formal Agreement (provided
that, for purposes of Section 5 of such Terms and Conditions, the applicable Eligible Theme Park may be operated by Universal, a Permitted Assignee or a Limited Assignee); 
 (c) The final paragraph of Section III.A.I. of the Formal Agreement (with respect to the use of Dr. Seuss Elements in the marketing of
such Eligible Theme Park, including joint promotions and corporate sponsorships); and 
 (d) Section III.A.2. of the Formal
Agreement (with respect to the development and sale of merchandise themed to Dr. Seuss Elements and Approved Food and Beverages in connection with such Eligible Theme Park, provided that photos and videos of guests with Dr. Seuss Elements
taken by such Eligible Theme Park’s photographers (“Photos”), as well as merchandise utilizing such photos and videos (“Photo Merchandise), may be sold to such guests at locations specified in Section III.A.2. of the Formal
Agreement and may also be sold through an internet website owned and operated by Universal Or any of its affiliates (“Internet Sales”) subject to the following limitation: Internet Sales of Photos and Photo Merchandise maybe offered only
if the Photos were taken of a guest during a visit to an Eligible Theme Park or to UIOA. 
 3.3 Exploitation as a Single
Attraction. In the event that Universal is permitted to exploit Dr. Seuss Elements at an Eligible Theme Park in the United Arab Emirates or South Korea in accordance with this Paragraph 3.3, Universal may elect to exploit such
Dr. Seuss Elements comprising a single Dr. Seuss Property at such Eligible Theme Park as follows: 
 3.3.1 As the
theming for a single ride attraction at such Eligible Theme Park (including related signage and other decorative elements in the immediate vicinity of such single ride attraction) (a “Single Attraction’); 
 3.3.2 As the theming for strolling costumed characters relating to such Single Attraction (which strolling costumed characters may appear in
both public and private events at such Eligible Theme Park); 
 3.3.3 As the theming for merchandise relating to such Single
Attraction developed and offered for sale by such Eligible Theme Park, subject to the terms of Section III.A.2. of the Formal Agreement; 
 3.3.4 By creating Photos and Photo Merchandise (as defined above), which may be sold to such guests at locations specified in Section III.A.2. of the Formal Agreement and may also be sold through an
internet website owned and operated by Universal or any of its affiliates (“Internet Sales”) subject to the following limitation: Internet Sales of Photos and Photo Merchandise may be offered only if the Photos were taken of a guest during
a visit to the Eligible Theme Park or to UIOA. 
  

 4 

 3.3.5 As the theming for Approved Food and Beverages; and 
 3.3.6 In connection with the advertising, marketing, promotion and publicity of such Eligible Theme Park (including joint promotions and
corporate sponsorships). 
 All such exploitations shall be effected in accordance with the approval and consultation provisions of Article II
of the Formal Agreement and all of the Terms and Conditions attached to the Formal Agreement as Exhibit B (provided that, for purposes of Section 5 of such Terms and Conditions, the applicable Eligible Theme Park may be operated by Universal, a
Permitted Assignee or a Limited Assignee), and, in addition, all marketing (including joint promotions and corporate sponsorships) involving such Dr. Seuss Elements shall be effected in accordance with the final paragraph of Section III.A.I. of
the Formal Agreement, and all development and sale of merchandise themed to Dr. Seuss Elements and Approved Food and Beverages shall be effected in accordance with the provisions of Section III.A.2. of the Formal Agreement. 
 3.3.7 In the event that Universal elects to exploit Dr. Seuss Elements in accordance with this Paragraph 3.3, Universal shall pay to
DSE the following amounts: 
 (a) An annual license fee of US$350,000 per Attraction Year, payable within fifteen
(15) business days after each annual anniversary of the date that the Single Attraction opens to the public (the license fee for the first Attraction Year shall have been prepaid as set forth in Paragraph 3.1 hereof); and 
 (b) An annual royalty guarantee of US$50,000 per Attraction Year, payable within fifteen (15) business days after the date that the
Single Attraction opens to the public, and within fifteen (15) business days after each annual anniversary thereof. 
 (i)
Such annual royalty guarantee shall be recoupable against royalties that shall accrue during the applicable Attraction Year on the sale of merchandise developed by Universal and themed to Dr. Seuss Elements and Approved Food and Beverages in
connection with such Single Attraction at the rate of eight percent (8%) of the cost of production of such merchandise and such Approved Food and Beverages. 
 (ii) In the event that, during any Attraction Year, the entire royalty guarantee for such Attraction Year is recouped against royalties that accrue on the sale during such Attraction Year of merchandise
themed to Dr. Seuss Elements and Approved Food and Beverages, any additional royalties that may accrue during such Attraction Year on the sale of merchandise themed to Dr. Seuss Elements and Approved Food and Beverages shall be paid to DSE
on a quarterly basis, within forty-five (45) days after the end of each calendar quarter containing all or any part of such Attraction Year. 
 3.4 Exclusivity. In the event that Universal elects to exploit Dr. Seuss Elements in connection with an Eligible Theme Park in accordance with the provisions of this Paragraph 3, DSE shall not
thereafter grant to any other theme park or amusement park located in the applicable exclusive territory for such Eligible Theme Park, as set forth below, any right to exploit any Dr. Seuss Elements at or in connection with such other theme
park or amusement park. In the event that, at the time Universal elects to exploit Dr. Seuss Elements in connection with an Eligible Theme Park in accordance with the provisions of this Paragraph 3, DSE has

  

 5 

 
already granted to any other theme park or amusement park located in the applicable exclusive territory for such Eligible Theme Park (other than in the Retained Territories) the right to exploit
Dr. Seuss Elements at or in connection with such other theme park or amusement park, such grant may remain in effect, but DSE shall not thereafter expand the geographic territory of such grant. For sake of clarity, the territory of exclusivity
for the Retained Territories is as follows: 
  

			
	 Territory of Exploitation
	  	 Territory of Theme Park and Amusement Park Exclusivity

		
	United States	  	United States, Canada
		
	United Kingdom	  	United Kingdom, Ireland, Belgium, Netherlands, Luxembourg
		
	United Arab Emirates	  	United Arab Emirates, Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, Iraq, Iran, Yemen, Jordan, Syria, and Lebanon
		
	South Korea	  	South Korea
		
	People’s Republic of China	  	People’s Republic of China, Taiwan, Hong Kong, Macau

 4. Assignments. Rights granted to Universal under the Formal Agreement as amended hereby for a
Theme Park or a Single Attraction may be licensed to a Permitted Assignee, or subject to the following, to a third party that is not a Permitted Assignee (a “Limited Assignee”): 
 4.1 A license to a Limited Assignee shall be subject to (i) DSE’s prior written approval, which shall be exercised only after
review of the proposed Limited Assignee’s capabilities, experience, reputation, and financial status, and which approval shall not be unreasonably withheld, delayed or conditioned; and (ii) Universal’s agreement to remain primarily
liable for all financial and other obligations hereunder and to remain as the primary contact for DSE with regard to all of DSE’s rights and obligations hereunder. Any purported license granted to a third party other than a Permitted Assignee
without DSE’s prior written approval and subject to the conditions of (ii) above shall be void. 
 4.2 DSE hereby
approves the following as Limited Assignees, on the condition that Universal shall remain primarily liable for all financial and other obligations hereunder and shall remain DSE’s primary contact with regard to DSE’s rights and obligations
hereunder: 
 4.2.1 Dubai Holding LLC and its subsidiaries Tatweer Dubai LLC and USD Theme Park LLC, with respect to the United
Arab Emirates; and 
 4.2.2 Beijing Tourism Group Co., Ltd., with respect to the People’s Republic of China. 
 5. Miscellaneous. 
 5.1
Except as specifically amended hereby, the Formal Agreement remains in full force and effect and shall be enforceable in accordance with its terms. All applicable general provisions of the Formal Agreement (e.g., governing law, dispute resolution,
etc.) shall be incorporated with full force and effect into this Amendment as if fully set forth herein. 
  

 6 

 5.2 DSE represents and warrants that it has full right to grant all rights granted under
this Amendment and that no consent by or payment to any of the heirs that executed an Heir’s Agreement in connection with the Formal Agreement is required in connection with this Amendment. 
 5.3 The Parties acknowledge that the Formal Agreement has been filed by Universal City Development Partners, Ltd. (“UCDP”),
the owner and operator of Universal Orlando, with the U.S. Securities and Exchange Commission (“SEC”) as one of its “material contracts”. Accordingly, pursuant to the rules of the SEC, this Amendment is also required to be
filed by UCDP with the SEC. The Parties shall cooperate in connection with such filing, including in connection with any request for confidential treatment in respect thereof that either Party may desire to make. 
 5.4 The addresses for notices and payments set forth in Section 8 of the Terms and Conditions attached as Exhibit B to the Formal
Agreement are revised to read as follows: 
  

			
	“DSE:	  	 Dr. Seuss Enterprises, L.P.
 1200 Prospect Street, Suite 575
 La Jolla, CA 92037

		
	with a copy to:	  	 Karl ZoBell
 DLA Piper LLP
(US)
 1200 Prospect Street, Suite 575
 La Jolla, CA 92037-3610
 Fax No.: (858) 456-3075

		
	with a copy to:	  	 Herbert Cheyette
 International Creative Management
 825 Eighth Avenue
 New York, NY 10019
 Fax No: (212) 556-5665

		
	UNIVERSAL:	  	 Universal Parks & Resorts
 100 Universal City Plaza, 1280/8
 Universal City, CA 91608
 Attn: Michael E. Silver, Esq.
 Senior Vice President, Business and Legal Affairs
 Fax No.: (818) 866-4545

 All payments hereunder shall be made to International Creative Management, Inc., as
agents for Dr. Seuss Enterprises, L.P., 825 Eighth Avenue, New York, NY 10019, attention: Herbert Cheyette.” 
  

 7 

 IN WITNESS WHEREOF, the Parties have executed this Amendment by their duly authorized
representatives as of the Effective Date. 
  

									
	DR. SEUSS ENTERPRISES, L.P.	 		 	USI ASSET TRANSFER LLC
					
	By:	 	Geisel-Seuss Enterprises, Inc.,	 		 	By:	 	 /s/ Maren Christensen

		 	General Partner	 		 		 	Maren Christensen
		 		 		 		 	Executive Vice President
					
	By:	 	 /s/ Audrey Geisel
	 		 	Date:	 	 July 31, 2009

		 	Audrey Geisel	 		 		 	
		 	President	 		 		 	
					
	Date:	 	 August 4, 2009
	 		 		 	
					
	By:	 	 /s/ Karl ZoBell
	 		 		 	
		 	Karl ZoBell	 		 		 	
		 	Secretary	 		 		 	
					
	Date:	 	 August 4, 2009
	 		 		 	

  

 8Marvel Agreement between MCA Inc. and Marvel Entertainment Group

 Exhibit 10.57 
 Certain portions of this agreement have been omitted pursuant to a request for confidential treatment and are replaced herein by ***. The omitted material has been filed separately with the Securities and
Exchange Commission. 
 MARVEL 
 DEAL CONCEPTS 
  

	I.	PROJECT DESCRIPTION 

 MCA is
developing a complete destination resort on approximately 800 acres owned by it and a partner in Orlando, Florida, on which Universal Studios Florida is located and attracted approximately 7 million visitors in 1992. 
 When completed, as presently planned the resort will consist of the existing theme park and HARD ROCK CAFE, plus a second gated theme park
(“THE SECOND GATE”), four highly themed hotels totalling 4,000 rooms, a themed entertainment and shopping complex, as well as a golf course, tennis club and spa. It is contemplated that the total cost of building out these facilities over
the next decade will be approximately $3 billion. The total complex is hereafter referred to as “Universal City Florida”. 
 THE SECOND GATE will be similar in size, quality and originality to Universal Studios Florida and is expected to generate even greater attendance, stay time and visitor expenditures given the unique appeal of the park and the synergies
which will arise from the total destination resort

 
concept. A theme park with anticipated initial attendance of five million visitors per year which is essentially comparable in size, quality and per capita expenditure to the present Universal
Studios Florida is hereafter referred to as a “Universal Theme Park”. As with Universal Studios Florida, Steven Spielberg will play a major role as creative consultant in the development of THE SECOND GATE at the Universal Theme Park
(Orlando). 
  

	 	A.	DEVELOPMENT OF THE MARVEL UNIVERSE 

 As part of THE SECOND GATE, within a separate environment designated under the banner of THE MARVEL UNIVERSE (or similar designation approved by Marvel) MCA will construct a complex of attractions, stores and food venues heavily themed
around the Marvel properties. Marvel hereby grants MCA a license to use Marvel’s characters for the purposes, on the terms and to the extent set forth herein. 
 In developing and implementing THE MARVEL UNIVERSE, MCA will follow and be consistent with The Official Handbook of The Marvel Universe, Marvel’s Style Guide and such other descriptive design/style
materials as may be provided by Marvel. This Marvel-themed complex would be designed in coordination with Marvel, and all major elements and themes would be subject to Marvel’s reasonable approval. As set forth in Section IV(A)(1)

  

 2 

 
any use of non-Marvel characters within THE MARVEL UNIVERSE (whether or not as a major element) will be subject to Marvel’s approval. The completed cost of this Marvel-oriented complex
(design and construction, including reasonably allocated infrastructure) would be approximately $***. 
  

	 	B.	MARKETING OF THE MARVEL UNIVERSE 

 In marketing THE SECOND GATE, MCA will see to it that Marvel is a significant focus of its marketing efforts, and that Marvel elements are included in at least $100 million of fair value of advertising, publicity, brochures, joint
promotions, or other marketing exposure relating to THE SECOND GATE (which may include other elements of Universal City Florida) during the initial two years of operation (plus the pre-opening period). During the subsequent five year period, Marvel
elements will be included in at least 20% of the value of the marketing exposure of the Universal Theme Park (Orlando) and thereafter in at least $*** per year relating to THE SECOND GATE at the Universal Theme Park (Orlando) (which may include
other elements of Universal City Florida). 
 Marvel shall have a reasonable right of advance approval relating to the use of its
trademarks in connection with any such advertising, publicity, brochures, promotions or other marketing efforts by MCA. Once particular artwork has been approved by Marvel, MCA may continue to use such artwork unless notified to the contrary by
Marvel. 
  

 3 

 Permitted marketing efforts shall include joint promotions and corporate sponsorships, so
long as it is clear that what is being marketed is THE SECOND GATE or THE MARVEL UNIVERSE, or specific elements of THE MARVEL UNIVERSE, as opposed to the Marvel name or characters themselves apart from the theme park, and in no event will the Marvel
elements, in the aggregate, be more than ***% of an overall MCA third party promotion. 
 Any Corporate Sponsorship shall require
Marvel’s approval, as will any joint promotion in which MCA receives cash or other consideration (including items of value) other than free media inclusion. As to MCA joint promotions in which MCA does not receive cash or other consideration,
Marvel shall have the right to notify MCA from time to time of significant promotional arrangements it has made or are in serious negotiations with third parties which might conflict with unannounced MCA joint promotions. Thereafter any MCA proposed
joint promotion (in which MCA receives no consideration) involving a competing product or entity in the territory covered by a Marvel promotion contained in such notice(s) shall require Marvel’s approval. 
  

 4 

	II.	PROCEEDING TO COMPLETION OF THE MARVEL UNIVERSE 

  

	 	A.	Upon execution of this agreement, MCA will pay Marvel $*** in consideration of entering into this exclusive relationship. 

 Concurrently, MCA will commence designing THE MARVEL UNIVERSE, and will work diligently (including meeting the requirements set forth in
subsection II(B) below) to complete its design and construction as part of its overall plans for the initial opening content of THE SECOND GATE. At the end of each year prior to the opening of any THE MARVEL UNIVERSE the President of MCA shall
deliver a letter to Marvel affirming the intention of MCA to complete construction and open THE MARVEL UNIVERSE by the required deadline stated herein, and informing Marvel in general terms of the progress to date, including a statement of the
expenditures in such year discussed in the next paragraph. 
 To further this goal, MCA will expend at least $***/year on a
cumulative basis (allowing carry forward) on design and construction of THE MARVEL UNIVERSE over the next three years. 
  

 5 

 MCA’s rights under this agreement will terminate if THE MARVEL UNIVERSE does not open
within six months of the opening of THE SECOND GATE (with further extensions of up to one year for clear-cut force majeure events such as major fires or other destructive events), with an outside date for opening THE MARVEL UNIVERSE of 2001 (with
similar extensions of up to one year for clear-cut force majeure events). In no event shall MCA have any rights under this Agreement if both the Second Gate and The Marvel Universe at Universal City Florida have not opened by December 31, 2002.

  

	 	B.	Further, MCA’s right to proceed to open THE MARVEL UNIVERSE at THE SECOND GATE shall lapse under the following circumstances: 

  

	 	1.	MCA shall fail to accomplish any of the following benchmarks: 

  

	 	(a)	Securing all significant governmental approvals to utilize the site of THE SECOND GATE by December 31, 1998. 

  

	 	(b)	Commence construction of THE SECOND GATE by December 31, 1999. 

  

 6 

	 	(c)	Commence construction of THE MARVEL UNIVERSE by December 31, 2000. 

  

	 	2.	In the event THE MARVEL UNIVERSE as part of THE SECOND GATE has not opened by December 31, 1998 and MCA shall fail to pay to Marvel an additional option fee in the
amount of $*** on each subsequent January 1st that THE MARVEL UNIVERSE is not open to the public. 

  

	III.	TERM 

 Once THE MARVEL UNIVERSE
opens within the above time period, the term of this agreement shall continue for so long as a THE MARVEL UNIVERSE shall remain open (and operated consistent with the standards of the next paragraph below) at any Universal Theme Park (allowing for
temporary closures for force majeure events or refurbishment/maintenance provided they are being diligently pursued), except for termination for material breach (with written notice and a reasonable opportunity to cure). 
 Each THE MARVEL UNIVERSE shall be operated and maintained in a first class manner consistent with the highest standards of the theme park
industry and shall be deemed “open” only when operated in such manner (subject to temporary closures for force majeure events as described in the prior paragraph). 
  

 7 

 At such time as any THE MARVEL UNIVERSE is no longer open at a particular Universal Theme
Park, all exclusivity and marketing rights acquired by MCA as a result of the opening of such THE MARVEL UNIVERSE at such Universal Theme Park, as set forth in Section IV below, shall terminate and this Agreement shall thereafter be construed as if
the notice of intent to open THE MARVEL UNIVERSE had not been given by MCA. 
  

	IV.	EXCLUSIVITY 

  

	 	A.	Exclusivity of Marvel Characters Within THE MARVEL UNIVERSE: 

  

	 	1.	Within THE SECOND GATE, the Marvel Characters will be primarily utilized as part of THE MARVEL UNIVERSE, although they may also be used throughout THE SECOND GATE as
strollers or featured elements in stores, restaurants, and the like (subject to Marvel’s reasonable approval). Within THE MARVEL UNIVERSE, the use of any non-Marvel characters will be subject to Marvel’s approval. 

 

	 	B.	Other Theme Parks 

  

	 	1.	 MCA (or an MCA “Corporately Related Company” (defined below)), shall have an option to utilize the Marvel characters in THE SECOND GATE of
the

  

 8 

	 	 
Universal Theme Park (Orlando) and an exclusive world-wide option to utilize the Marvel characters in additional THE MARVEL UNIVERSES in any other Universal Theme Parks, which initial option must
be exercised during the two year period beginning on the date of the opening of THE MARVEL UNIVERSE in the Universal Theme Park (Orlando). The present inventory of the Marvel characters is set forth in the schedule to be attached or provided by
Marvel promptly after execution hereof, plus any characters developed or acquired or licensed in the future by Marvel which (x) are marketed under the Marvel “Banner” or (y) were previously marketed under the Marvel
“Banner” during the term hereof and are subsequently marketed under the “Banner” of a Marvel Related Company (defined below). Any characters which are licensed to Marvel by third parties subject to terms which require Marvel to
pay a license fee based on revenues or which do not permit sublicensing may be excluded, at Marvel’s option, in the foregoing grant. 

  

 9 

	 	a.	After such 2 year period, MCA’s exclusive rights will be subject to “shrinkage” or “expansion” as follows: 

  

	 	1.	If no action is taken by MCA, such exclusivity shall be limited as follows: 

  

	 	i.	East of The Mississippi - any other theme park is limited to using characters not currently being used by MCA at the time such other license is granted. [For purpose of
this subsection and subsection iv, a character is “being used by MCA” if (x) it or another character of the same “family” (e.g., any member of THE FANTASTIC FOUR, THE AVENGERS or villains associated with a hero being used)
is more than an incidental element of an attraction, is presented as a costumed character, or is more than an incidental element of the theming of a retail store or food facility; and, (y) in addition, if such character or another character
from the same “family” is an element in any MCA marketing during the previous year. Any character who is only used as a costume character will not be considered to be “being used by MCA” unless it appears as more than an
incidental element in MCA’s marketing.] 

  

 10 

	 	ii.	West of The Mississippi - any other theme park may use any Marvel characters whether or not used by MCA. 

  

	 	iii.	East or West of The Mississippi - permitted uses shall be limited to the use of specific Marvel characters and Marvel may not permit a licensee to use the name
“Marvel” as part of the attraction name or marketing. 

  

	 	iv.	East or West of The Mississippi - The foregoing permitted uses will be subject to the following marketing restrictions: 

  

	 	(a)	 If the particular character is used by MCA (as defined above), such character will not be advertised or promoted East of The Mississippi, except by
means of national Network buys

  

 11 

	 	of television, within printed materials such as brochures, or by print advertisements in periodicals directed to readers more than 300 miles from Orlando; and with
regard to any of the foregoing permitted marketing, if the marketing is for a group of theme parks located both East and West of The Mississippi, the marketing shall make abundantly clear that the character only appears in the parks West of The
Mississippi and shall not be subject to confusion on such point (such as would occur by visual inclusion of the character in a generic, multipark advertisement subject to a small print explanation of the parks where the character is present).

  

 12 

	 	(b)	If the particular character is not used by MCA, such character will not be advertised or promoted by means of (x) spot television buys, billboards, personal
appearances, or print advertisements which are (y) viewed, located or primarily directed to persons within 300 miles of Orlando. In other words, regional (i.e. covering a multi-state geographic region) or national television or print media
buys, or brochures would not be prohibited within such 300 mile radius. 

  

	 	2.	Within 2 years after opening of THE MARVEL UNIVERSE in Orlando, MCA may retain its worldwide exclusivity for up to 5 additional years by designating another location
where it intends to develop THE MARVEL UNIVERSE as part of a theme park, and by paying an option fee of $*** per year. Provided such second theme park opens within such 5 year period, MCA shall maintain worldwide exclusivity for an additional two
year period after such opening, and thereafter its rights will be subject to the “shrinkage” or “expansion” concept described above (in the manner described below). 

  

 13 

 As used throughout this agreement, any subsequent THE MARVEL UNIVERSE must cost at least
$*** (calculated in the manner described previously), must appear in a Universal Theme Park, and Marvel’s representation therein will be of at least comparable proportion and like quality to its representation (including as to the retail
exposure and promotional efforts of MCA) within THE SECOND GATE at Universal City Florida. 
  

	 	i.	With regard to the second and subsequent Universal Theme Parks in the areas specified below, MCA’s exclusivity shall be as follows: 

  

	 	a.	Second U.S. Park - all of U.S. 

  

	 	b.	Any of Japan, Hong Kong, the Philippines, Singapore, Malaysia, Indonesia, Mainland China, Taiwan, North or South Korea, Vietnam, or Thailand, exclusivity will apply to
all others. 

  

 14 

	 	c.	Europe Park - all Europe, including Turkey, but excluding any areas that were part of the former USSR. 

  

	 	ii.	With regard to subsequent Universal Theme Parks in areas other than as described in (i) above, the parties will in good faith agree upon comparable geographic
provisions to the “East of the Mississippi” provisions applicable to the Orlando Universal Theme Park. Thereafter, the above “shrinkage” or “expansion” provisions shall continue to apply to all such future Universal
Theme Parks described in this subsection (ii). If after opening any subsequent Universal Theme Park MCA does not institute the option payments within 2 years, continue the option payments, and open such newly designated subsequent Universal Theme
Park within 5 years thereafter, its rights shall be permanently “shrunk”, and it will have no further right to build any new THE MARVEL UNIVERSE. 

  

 15 

	 	3.	Any THE MARVEL UNIVERSE constructed hereunder after THE MARVEL UNIVERSE (Orlando) shall be subject to the payment and other relevant terms of this agreement applicable
to THE MARVEL UNIVERSE (Orlando), except as to CPI increases as set forth herein. 

  

	 	4.	To the extent and in the territories that MCA has exclusive theme park rights, such shall not prohibit (except for the limitations described below) Marvel from itself
developing or licensing its planned Retail concept which may include interactive elements as a major or minor element (presently intended to be called “The Marvel Action Universe” and referred to as such herein, but which may also be
called “The Marvel Universe” or another name chosen by Marvel). The Marvel Action Universe will consist, inter alia, of the sale of comic books, trading cards, software, licensed or Marvel produced merchandise, the use of electronic games
and/or pinballs or other coin operated games, and may include one or more virtual reality and/or simulator ride using Marvel characters or other themes. The following restrictions shall apply to The Marvel Action Universe (or elements thereof
whether owned or licensed by Marvel). 

  

 16 

	 	a.	Restrictions as to the geographic location of The Marvel Action Universe in areas where MCA has exclusive rights hereunder. 

  

	 	i.	The Marvel Action Universe will not be within 60 miles of any Universal Theme Park with a THE MARVEL UNIVERSE 

  

	 	ii.	Mini-theme parks, recreation centers, game centers and the like designated with the Marvel name or the name of any Marvel characters or any major entertainment
component of a Marvel Action Universe such as a motion based film ride shall not be within 60 miles of any Universal Theme Park with a THE MARVEL UNIVERSE. 

  

	 	iii.	Within the ADI market of the city containing a Universal Theme Park (even to the extent such ADI exceeds a 60 mile radius) there shall not be a Marvel themed simulator
ride. 

  

 17 

	 	b.	Restrictions as to elements of The Marvel Action Universe in areas where MCA has exclusive rights hereunder. 

  

	 	i.	Within 300 miles of any Universal Theme Park with a THE MARVEL UNIVERSE, no The Marvel Action Universe shall contain more than one simulator, nor shall such simulator
hold more than 20 people. Motion based or virtual reality attractions which are coin operated and hold no more than 4 people shall not be deemed a “simulator” subject to the above restriction. Any such rides which are interconnected so as
to create a simultaneous experience among multiple units exceeding an aggregate of 4 people shall be deemed simulator rides and the number of people in such interconnected rides shall be counted toward the 20 person limit above.

  

	 	c.	Restrictions as to affiliations or marketing of The Marvel Action Universe or elements thereof, in areas where MCA has exclusive rights hereunder.

  

	 	i.	The Marvel Action Universe will not be within any theme park, nor marketed in conjunction with any theme park. For purposes of these restrictions, an area of 10 acres
or less will not be deemed a theme park. An area in excess of 10 acres may or may not be deemed a theme park based on its overall characteristics. 

  

 18 

	 	ii.	No The Marvel Action Universe will be marketed so as to infer or imply that such THE MARVEL ACTION UNIVERSE or one of its components (x) constitutes a theme park
or (y) is a component of a theme park. 

  

	 	iii.	No The Marvel Action Universe shall be in or marketed in conjunction with any themed entertainment areas owned, operated or marketed by Disney, Time-Warner, Six Flags,
Sony, Paramount or Busch. As used herein, “theme park” and “themed entertainment areas” shall not include, inter alia, facilities or complexes where at least 70% of the revenues generated on the premises are derived from retail
sales or whose primary source of revenue is lodging (which may include food, beverage and gaming revenues). 

  

	 	d.	Pre-Existing Conditions in areas where MCA has exclusive rights hereunder. 

  

 19 

 The restrictions set forth in subparagraphs a and b above shall not apply to any The Marvel
Action Universe or elements thereof which already “Exists” on the “Trigger Date” (both defined below) and would be thereafter impacted by subparagraphs a and b above due to the creation of a new THE MARVEL UNIVERSE in a Universal
Theme Park. However, no such Marvel Action Universe shall be materially enhanced in relation to any otherwise prohibited element (except as to matters of governmental compliance and general refurbishment and updating) after the opening of such new
THE MARVEL UNIVERSE in a Universal Theme Park. For purposes of this subsection the following definitions shall apply: 
  

	 	(x)	A Marvel Action Universe (or otherwise prohibited element) shall be deemed to “Exist” if it is (a) open for business or (b) a lease has been
executed or a contract for purchase of land has been executed (in either case for a site for a The Marvel Action Universe) and Marvel is diligently proceeding to develop and open such The Marvel Action Universe. 

  

 20 

	 	(y)	The “Trigger Date” for any THE MARVEL UNIVERSE is the date hereof as to Orlando and,as to any subsequent THE MARVEL UNIVERSE in a Universal Theme Park, the
later of the date on which (i) THE MARVEL UNIVERSE at the Universal Theme Park (Orlando) opens for business or (ii) MCA has announced development and paid the $*** (as adjusted by CPI) option fee relating to such new THE MARVEL UNIVERSE as
set forth in Section IV(B)(1)(a)(2). 

 If Marvel is actively operating and/or developing The Marvel Action
Universes in the 60 mile radius or ADI of any such newly announced THE MARVEL UNIVERSE at a Universal Theme Park, at the time of such announcement by MCA, Marvel may request MCA to consider, in good faith, modifying those terms of this subsection
which limit Marvel’s enhancement and/or development of The Marvel Action Universes in such 60 mile area or ADI, although MCA shall be under no obligation to change the restrictions herein. 
  

	V.	OTHER ASPECTS OF RELATIONSHIP 

 As to each THE MARVEL UNIVERSE at a Universal Theme Park (subject to CPI adjustments as set forth herein), the following shall apply: 
  

 21 

	 	A.	Annual Fee 

 Upon the opening of
THE SECOND GATE, and on an annual basis thereafter, MCA will pay a fee of $***. 
  

	 	B.	Merchandise Opportunities/Specialty Stores 

 Throughout THE SECOND GATE, stores will carry a wide range of Marvel produced or licensed products and artwork, Marvel comic books, Fleer trading cards (or cards of such other licensee as may be
designated by Marvel), and toys (primarily action figures) manufactured by Toy Biz, Inc. (or such other Marvel licensee as may be designated by Marvel). Additionally, within or adjacent to THE MARVEL UNIVERSE there would be significant retail space
dedicated to Marvel publications, software, products, and cards produced or licensed by Marvel. It is anticipated that this exposure to a highly motivated public who have experienced THE MARVEL UNIVERSE, combined with the underlying popularity of
the Marvel properties, will result in a level of sale of Marvel manufactured and licensed products, such as would make THE SECOND GATE an extremely lucrative outlet for its properties. 
 Within THE SECOND GATE, a minimum of 10,000 square feet of retail space will be devoted to items licensed or manufactured by Marvel or its
related companies 
  

 22 

 including a minimum of 5,000 square feet of retail space in stores themed around MARVEL
properties and devoted virtually exclusively (allowing for minor exceptions such as film, etc., but not competing characters) to the sale of MARVEL items. 
 MCA will give serious consideration to placing such Marvel-oriented stores at or adjacent to the exit of the major attractions within THE MARVEL UNIVERSE, consistent with its reasonable judgment as to
traffic flow, planning considerations and customer acceptance. 
 The various Marvel properties and merchandise will also be used
throughout the destination resort including within the hotels (if operated by MCA or an MCA Corporately Related Company; or if operated by a third party MCA will encourage such use), and Marvel theming and merchandise will be featured in any airport
stores operated by MCA in Los Angeles or Orlando. Uses of Marvel theming in MCA operated stores other than within the resort property or within the aforesaid MCA operated airport stores will require specific Marvel approval. 
  

 23 

 The merchandise within such retail facilities will either be (i) purchased from
Marvel’s licensees; (ii) purchased directly from Marvel or its designated distributors; or (iii) manufactured by or to MCA’s specifications as a direct licensee of Marvel. 
  

	 	a.	Sale of food or beverage, at non-premium prices, from Marvel themed facilities will not be subject to royalties, unless the items sold carry Marvel logos or proprietary
elements. In the event such item(s) carry Marvel logos or proprietary elements, Marvel shall receive a license fee of *** percent on the wholesale price of such item (i.e. combined food and packaging). 

  

	 	b.	Food or beverage items sold at a premium price, either from Marvel themed facilities or which carry Marvel logos or proprietary elements, shall bear a licensee fee to
Marvel equal to the greater of (x) *** percent on the wholesale price or (y) *** percent of the retail price of such item (i.e. combined food and packaging). 

  

	 	C.	Merchandise Royalty Guarantee 

 MCA will pay an annual guaranteed merchandise advance of $*** which will be applied against merchandise royalties from any of its retail outlets calculated at a 
  

 24 

	 	 
rate of ***% of wholesale cost. After the annual guaranteed advance is fully earned, the royalty on additional sales will decrease to ***% and will be paid quarterly. Such royalty will be applied
to the wholesale cost of merchandise manufactured for and purchased by MCA as a direct licensee of Marvel, and to the cost of items purchased from Marvel’s licensees. (While Marvel will not require its licensees to sell items to MCA without a
royalty built into the price, Marvel will not in any way prohibit or restrict MCA from being a direct licensee of Marvel or a Marvel Related Company for the purpose of producing products to be sold by MCA at Universal Theme Parks, surrounding
complexes and certain airport stores as provided herein, including by means of exclusive licenses granted to parties other than Marvel Related Companies). In the event Marvel is unable to give MCA a direct license because of a conflicting license,
MCA shall receive a credit for the license fees payable to Marvel by MCA hereunder, and Marvel agrees that the royalty rate paid by its Licensee in connection with each item as to which Marvel cannot grant a license to MCA will be set consistent
with Marvel’s normal business practices. 

  

	 	1.	Marvel will have reasonable audit and review rights to assure that proper payments are made and that the cost attributed to merchandise manufactured for MCA’s
order is being fairly stated and, inter alia, is not being “adjusted” so as to reduce the royalties due Marvel in favor of other merchandise not covered by this agreement. 

  

 25 

	 	2.	The parties will develop reasonable audit rights and procedures which will be consistent with industry standards. MCA will reimburse Marvel for the reasonable cost of
any audit resulting in Marvel being due additional sums exceeding ***% of the sums paid by MCA. 

  

	 	3.	Marvel will have reasonable approval of all licensed merchandise, artwork, merchandise packaging, logos, and the like utilizing the Marvel properties, which approval
will be granted or withheld in a timely and reasonable manner and will not be used in a way which would frustrate the intent of this Agreement. 

  

	 	4.	Where items of merchandise feature both the Marvel properties and other characters or elements proprietary to third parties (such as posters, T-shirts, coffee mugs and
the like portraying the wide range of characters present in THE SECOND GATE) a procedure to arrive at a reasonable allocation of the royalty will be worked out. 

  

 26 

	 	D.	Product Purchase Guarantee 

 In
addition to the Royalty Guarantee set forth in C above, if MCA’s wholesale cost of the comic books, art work, trading cards, toys, videos, games, and related items purchased from Marvel (or a Marvel Related Company) or their distributor (as to
such Marvel produced items) do not exceed at least $*** in a given year, MCA will promptly pay to Marvel any such short fall, or purchase items covering such short fall. Such items purchased by MCA from Marvel or a Marvel Related Company (whether
directly or through a distributor) shall not be subject to a Marvel royalty, and any royalty built into the wholesale cost shall be deducted. In the event that the product line produced by Marvel and Marvel Related Companies is substantially reduced
after the date hereof, limiting the product available to MCA for sale at Universal Theme Parks, the parties shall negotiate in “good faith” an adjustment to the above $*** guarantee. 
  

	 	E.	Comic Book Advertising 

 MCA
intends to advertise THE SECOND GATE (in a manner that features the Marvel properties) on the back page of various Marvel Comics. Marvel will work with MCA toward this end and provide information concerning

  

 27 

 
demographically appropriate magazines and their availability. Such advertising buys will be at the best rates available from Marvel to unrelated third parties for such publications for purchases
of comparable volume. Subject to the availability of the specific publications MCA reasonably believes appropriate for its needs, MCA will expend at least the following amounts on advertisements appearing on Marvel comics: 
  

	 	1.	During the initial two years of operations (plus the pre-opening period) - $***. 

  

	 	2.	Per year thereafter - $***. 

  

	 	F.	Marvel Compensation Alternative 

 MCA agrees that if, as to any Universal Theme Park containing a THE MARVEL UNIVERSE, MCA utilizes “characters” not owned by MCA or an MCA Related Company and the financial arrangement between MCA and the owner or licensor of such
“characters” (the “third party”) involves the “payment by MCA of sums based on revenues of the Theme Park or a significant portion thereof” (defined below), MCA shall offer to Marvel, the opportunity at Marvel’s
option to elect to be compensated for the use of the Marvel license granted herein as it relates to such specific THE MARVEL UNIVERSE, on the same basis as such

  

 28 

 
“third party”. If Marvel so elects then MCA shall receive credit for payments previously made to Marvel to the extent comparable or similar payments were not part of such “third
party” deal. In the event such “third party” is required by MCA to invest in the Universal Theme Park where its characters are being utilized, Marvel shall have a comparable obligation if Marvel exercises the option to be compensated
based on the Compensation Alternative set forth in this paragraph F. 
 The “payment by MCA of sums based on revenues of the
Theme Park or a significant portion thereof” is intended to encompass “royalty” arrangements or similar arrangements which compensate the “third party” based on net revenues, gross revenues, attendance, or any other standard
measuring the economic performance of a particular Universal Theme Park or a significant portion thereof. 
 VI. MISCELLANEOUS LEGAL 

 

	 	A.	All sums to be paid or expended by MCA hereunder pursuant to Sections I(B), II(B), IV(B)(1)(a)(2), IV(B)(2), V(A), V(C), V(D) and V(E) shall be increased for each year
after 1998 using the U.S. national CPI as of December 31, 1998 as the base. 

  

 29 

	 	B.	Marvel will reasonably cooperate in making information, artwork, archive material, key personnel, etc. available to MCA in order that MCA can creatively develop THE
MARVEL UNIVERSE and exploit its rights hereunder. MCA will reimburse Marvel for its reasonable costs in this regard, including time of non-executive personnel and their reasonable travel expense. 

  

	 	C.	Whenever Marvel has “reasonable” rights for rejection of approval hereunder, the basic criteria to be used by Marvel may include inconsistency with
(i) basic story line, (ii) the powers, (iii) basic personality traits, (iv) physical appearance (including clothing or costume), and/or (v) living habitat or environment relating to such character as portrayed in
Marvel’s exploitation of such character in comic books or other products for the particular time period being depicted by MCA. 

  

	 	D.	MCA shall take appropriate action, as directed by Marvel to protect all copyrights and trademarks in connection with the uses granted hereunder, including in-park uses,
merchandise and packaging. 

  

	 	E.	Marvel represents and warrants that it is the proper party to grant the rights contained in this Agreement and that such grant is effective and binding.

  

 30 

	 	F.	MCA agrees to defend, indemnify and hold harmless Marvel against any claims arising out of MCA’s exploitation of the rights granted hereunder (including, without
limitation, the operation of a Universal Theme Park) or use of the Marvel properties (except for those related to breaches in Marvel’s warranties); and Marvel agrees to defend, indemnify and hold harmless MCA against any claim arising from
Marvel’s breach of its representations and warranties contained herein. Any indemnification obligation hereunder shall apply to the party specified, its parent or subsidiary companies, affiliates, officers, directors, shareholders, agents and
employees (and, in the case of MCA, the actual MCA Corporately Related Company exploiting the rights granted hereunder), and shall cover any and all loss, liability, claims, damage and expense, including reasonable attorney’s fees of the
protected party hereunder. 

  

	 	G.	Either party may terminate this agreement upon a material breach of the other party, subject to written notice and a reasonable opportunity to cure.

  

	 	H.	As used herein, an MCA “Corporately Related Company” shall mean any entity in which MCA has a majority interest in the voting equity (directly or indirectly)
which operates or manages a particular Universal Theme Park in which THE MARVEL UNIVERSE is or will be located. 

  

 31 

	 	I.	As used herein, a “Marvel Related Company” shall mean any entity that is owned in whole by Marvel or (i) in which Marvel (or a company in (iii),
(iv) or (v) below) has at least a 25% equity interest, (ii) Marvel (or a company in (iii), (iv) or (v) below) has a significant board representation, (iii) is a parent of Marvel, (iv) is controlled by an entity
which (directly or indirectly) controls Marvel, or (v) is an “affiliate” of Marvel as defined in the 1933 Securities Act. 

  

	 	J.	 In the event any dispute, claim or difference arises out of this Agreement as to the rights and liabilities of the parties hereunder, the breach or
invalidity of any covenants hereunder or in connection with the construction of this Agreement (each such event, a “Dispute”), the parties shall settle the Dispute by binding arbitration. Except as otherwise specifically provided in this
Section J, the arbitration shall be conducted in accordance with the Commercial Arbitration Rules of the American Arbitration Association in effect as of the date of commencement of the arbitration. The arbitration shall be held in New York, New
York, unless the parties mutually agree to have the arbitration held elsewhere. The arbitration panel shall have the

  

 32 

	 	 
authority to order travel, as part of a proceeding, to the site of any Universal Theme Park or other physical location, the viewing of which the panel believes is useful in determining facts
relevant to resolution of the dispute. Judgment upon the award made in any arbitration proceeding hereunder may be entered by any court having jurisdiction thereof; provided, however, that nothing contained in this paragraph shall be construed to
limit or preclude a party from bringing any action in any court of competent jurisdiction in the United States for injunctive or other provisional relief to compel another party hereto to comply with its obligations under this Agreement during the
pendency of the arbitration proceedings. 

 A party may commence arbitration by giving written notice to the
other party, which shall include the contention of the party requesting arbitration, the factual circumstances giving rise to the dispute, the provisions of the Agreement which are alleged to have been breached or violated and the name and address
of the arbitrator the party has appointed from a list of arbitrators who have been pre-approved by the parties. The parties shall in good faith appoint arbitrators to the list with experience in the entertainment business and intellectual property
rights. Within ten (10) days following receipt of such notice, the other party shall appoint a second

  

 33 

 
arbitrator from the same list and provide the name and address to the other party. In the event both parties appoint the same arbitrator, he shall be the only arbitrator to decide the Dispute. In
the event each party appoints a different arbitrator, the parties shall appoint a third arbitrator from the list. If within five (5) days the parties cannot agree upon a third arbitrator, they shall so notify the two appointed arbitrators
within 24 hours. Within ten (10) days of appointment of the second arbitrator, the two arbitrators appointed shall choose a third arbitrator from the list and shall notify the parties as to their choice. The arbitrators shall be empowered to
grant such injunctive relief as they deem appropriate. In the event a party believes that expedited arbitration proceedings are necessary, such party may request an expedited arbitration proceeding. In such event, the arbitrators shall have the
power to order all discovery to proceed on an expedited basis, the arbitration shall proceed on an expedited basis and the arbitrators shall render their decision within five (5) business days after concluding all evidentiary proceedings.
Either party may request the arbitration panel to assess the costs of the arbitration and/or the prevailing party’s legal fees against the party which loses the arbitration. The arbitrators shall exercise their discretion in deciding if, upon
receiving such request and rendering their decision, one party properly should be assessed the costs of the arbitration and/or the legal fees incurred by the prevailing party. 
  

 34 

	 	K.	This Agreement shall be governed by the laws of the State of New York. 

  

	 	L.	Although the parties may ultimately enter into a more formal agreement containing the above terms, until such occurs, the terms of this Agreement shall be binding on
the parties. 

 [NEXT PAGE IS THE SIGNATURE PAGE] 
  

 35 

									
	MCA Inc.	 		 	Marvel Entertainment Group
					
	By:	 	/s/ Ron Bension	 		 	By:	 	/s/ William Bevins
		 	Ron Bension	 		 		 	William Bevins
		 	Chairman	 		 		 	Chief Executive Officer

 MCA Recreation Services 
 This agreement dated March 22, 1994. 
  

 36

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]