Document:

Exhibit 10.1

 

 

May 13, 2011

 

Robert B. Mills

17 Great Hills Road

New Hope, PA 18930

 

Dear Bob,

 

Congratulations on your promotion to Chief Operational Officer of Assured Guaranty Ltd., Assured Guaranty US Holdings, Inc. and Assured Guaranty Corp. (the “Assured Guaranty Companies”).  You currently serve as Chief Financial Officer of the Assured Guaranty Companies pursuant to the terms of an employment agreement by and between you and those companies as amended and restated effective January 1, 2009 (the “Employment Agreement”).

 

Pursuant to the terms of this letter, you shall cease to hold the above-described position as Chief Financial Officer of the Assured Guaranty Companies, and you shall assume your new position as Chief Operating Officer of the Assured Guaranty Companies, effective June 1, 2011.  You shall have such powers and duties consistent with the announcement of your position, and you shall answer to and be subject to the directions of the Chief Executive Officer of Assured Guaranty Ltd.

 

By signing and returning this letter, you (i) agree to the changes described in this letter, (ii) agree that the change in your responsibilities, title and status as described in this letter will not constitute a reduction in those responsibilities, title or status (as described in paragraph 10(d) of the Employment Agreement), and (iii) permanently waive any claim that the changes described in this letter provide a basis for your terminating your employment due to a Good Reason Resignation under paragraph 10 (d) of the Employment Agreement (including, without limitation, waiver of any claim that the changes in this letter constitute the assignment of duties inconsistent with your title, duties, and responsibilities as Chief Financial Officer).

 

Except as otherwise provided in this letter, the terms of your employment shall remain the same as currently in effect, and the terms of the Employment Agreement, as modified by the waiver letter dated April 21, 2011 executed by you, shall remain in full force and effect.

 

 

 

	
Assured   Guaranty Ltd.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
  
    	
  30   Woodbourne Avenue, 5th Floor
    	
 
    	
 
    	
  main
    	
 
    	
441 279 5700
    	
 
    	
 
    	
  info@assuredguaranty.com
    	
 
    	
 
    	
  www.assuredguaranty.com
    
	
  
    	
  Hamilton HM 08
    	
 
    	
 
    	
  fax
    	
 
    	
441 279 5701
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
  
    	
  Bermuda
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

If you have questions about this letter, please contact the undersigned.  If you agree to the terms of this letter, please return a signed copy of the letter to the undersigned.

 

Very truly yours,

 

ASSURED GUARANTY LTD.

 

 

	
By:
    	
  /s/ James   M. Michener
    	
 
    
	
Name:
    	
James   M. Michener
    
	
Title:
    	
General   Counsel
    
	
 
    	
 
    
	
 
    	
 
    
	
I   agree to the terms of this Letter:
    
	
 
    	
 
    
	
 
    	
 
    
	
  /s/ Robert B. Mills
    	
 
    
	
Robert   B. Mills
    
	
 
    
	
Date:
    	
  May 13,   2011
    	
 
    
					

 

2Exhibit 10.2

 

 

 

 

May 13, 2011

 

Robert A. Bailenson

8 Halyard Court

Cold Spring Harbor, NY 11724

 

Dear Rob,

 

Congratulations on your promotion to Chief Financial Officer of Assured Guaranty Ltd. and Assured Guaranty Corp. (the “Assured Guaranty Companies”).  You currently serve as Chief Accounting Officer of the Assured Guaranty Companies pursuant to the terms of an employment agreement by and between you and those companies as amended and restated effective January 1, 2009 (the “Employment Agreement”).

 

Pursuant to the terms of this letter, you shall continue to retain the function of principal accounting officer of the Assured Guaranty Companies until such time, if ever, as a replacement is named for such position by the Assured Guaranty Companies, and you shall assume your new position as Chief Financial Officer of the Assured Guaranty Companies effective June 1 ̧ 2011.  You shall have such powers and duties consistent with your current position as Chief Accounting Officer and consistent with the announcement of your position as Chief Financial Officer, and you shall answer to and be subject to the directions of the Chief Executive Officer of Assured Guaranty Ltd.

 

By signing and returning this letter, you (i) agree to the changes described in this letter, (ii) agree that the change in your responsibilities, title and status as described in this letter will not constitute a reduction in those responsibilities, title or status (as described in paragraph 10(d) of the Employment Agreement), and (iii) permanently waive any claim that the changes described in this letter provide a basis for your terminating your employment due to a Good Reason Resignation under paragraph 10 (e) of the Employment Agreement (including, without limitation, waiver of any claim that the changes in this letter constitute the assignment of duties inconsistent with your title, duties, and responsibilities as Chief Accounting Officer).

 

Except as otherwise provided in this letter, the terms of your employment shall remain the same as currently in effect, and the terms of the Employment Agreement, as modified by the waiver letter dated April 21, 2011 executed by you, shall remain in full force and effect.

 

 

 

	
Assured   Guaranty Ltd.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
  30   Woodbourne Avenue, 5th Floor
    	
 
    	
 
    	
  main
    	
 
    	
441 279 5700
    	
 
    	
 
    	
  info@assuredguaranty.com
    	
 
    	
 
    	
  www.assuredguaranty.com
    
	
 
    	
  Hamilton HM 08
    	
 
    	
 
    	
  fax
    	
 
    	
441 279 5701
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
  Bermuda
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

If you have questions about this letter, please contact the undersigned.  If you agree to the terms of this letter, please return a signed copy of the letter to the undersigned.

 

Very truly yours,

 

ASSURED GUARANTY LTD.

 

 

	
By:
    	
  /s/ James M. Michener
    	
 
    
	
Name:
    	
James M. Michener
    
	
Title:
    	
General Counsel
    
	
 
    	
 
    
	
 
    	
 
    
	
I   agree to the terms of this Letter:
    
	
 
    	
 
    
	
 
    	
 
    
	
  /s/ Robert A. Bailenson
    	
 
    
	
Robert   A. Bailenson
    
	
 
    
	
Date:
    	
  May 13, 2011
    	
 
    
						

 

2Exhibit 4.1

 

SUPPLEMENTAL INDENTURE

 

This Supplemental Indenture dated as of May 13, 2011(this “Supplemental  Indenture”), among Lions Gate Entertainment Inc., a Delaware corporation (the “Issuer”), Lions Gate Entertainment Corp., a corporation organized under the laws of the Province of British Columbia (“Parent”), the other Guarantors listed on the signature pages hereto (the “Guarantors”) and U.S. Bank National Association, as Trustee (the “Trustee”).

 

WHEREAS, each of the Issuer and the Guarantors has heretofore executed and delivered the Indenture, dated as of October 21, 2009 (as supplemented and amended to date, the “Indenture”), providing for the issuance of an unlimited aggregate principal amount of 10.25% Senior Secured Second-Priority Notes due 2016 (the “Notes”);

 

WHEREAS, the Issuer has previously issued and sold $236,000,000 aggregate principal amount of Notes (the “Initial Notes”); and

 

WHEREAS, the Issuer, the Guarantors and the Trustee have duly authorized the execution and delivery of this instrument to provide for the issuance of additional notes in the aggregate principal amount of up to $200,000,000 (the “Additional Notes”) and certain other amendments to the Indenture as set forth herein and have done all things necessary to make this instrument a valid agreement of the parties hereto, in accordance with its terms.

 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

 

ARTICLE I
 DEFINITIONS

 

Section 1.01.  Definitions.  Capitalized terms used in this instrument and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture.

 

ARTICLE II
 ADDITIONAL NOTES

 

Section 2.01.  Additional Notes.

 

(a)                      $200,000,000 aggregate principal amount of Additional Notes shall be issued under the Indenture.  Such Additional Notes shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as to status, redemption or otherwise (other than issue price and the first interest payment date) as the Initial Notes.

 

(b)                     Each Guarantor hereby confirms and acknowledges its Notes Guarantee of the Initial Notes and the Additional Notes.

 

1

 

ARTICLE III
 AMENDMENTS

 

Section 3.01.  Amendments.

 

(a)                      Section 1.01 of the Indenture shall be amended by inserting immediately prior to the period in the definition of “Intercreditor Agreement” the following new phrase:

 

“or Indebtedness secured by Liens permitted under clause (15) of Section 4.12”.

 

(b)                     Section 4.03(f) of the Indenture will be added and will appear as follows:

 

“ (f)                           The quarterly and annual financial information required by this Section 4.03 shall include a presentation, in “management’s discussion and analysis of financial condition and results of operations”, of the Borrowing Base as of the end of the fiscal quarter or fiscal year to which such financial information relates, which shall present both the total Borrowing Base and the components thereof as represented by each numbered clause in the definition of “Borrowing Base”, and which shall present the foregoing on both a gross and net basis (i.e., before and after giving effect, as applicable, to the percentage multipliers set forth in certain of the numbered clauses in the definition of “Borrowing Base” and to the other limitations set forth in the definition of “Borrowing Base”); provided that the presentation will include amounts for each numbered clause of the definition of “Borrowing Base” (but not the components of each numbered clause) and the amounts described in clause (xv) of the definition of “Borrowing Base” shall be deducted under each of the other numbered clauses, as applicable, and there will be no separate sum total of such deductions under clause (xv).

 

(c)                      Section 4.07(a)(4)(B) of the Indenture shall be deleted in its entirety and replaced with the following:

 

“(B)                          the Issuer could Incur $1.00 of additional Secured Funded Indebtedness pursuant to Section 4.09(a)(1) after giving effect, on a pro forma basis, to such Restricted Payment; and”

 

(d)                     Section 4.09(b)(18) of the Indenture shall be deleted in its entirety and replaced with the following:

 

“(18)                      (A) Indebtedness pursuant to the Pennsylvania Regional Financing Arrangement in an amount no greater than $66,000,000 and (B) Indebtedness represented by up to $200,000,000 of Additional Notes (including any Notes Guarantees thereof);”

 

(e)                      Section 4.12(15) of the Indenture shall be deleted in its entirety and replaced with the following:

 

“(15)                      Liens granted by one or more of the Issuer and its Restricted Subsidiaries to secure Indebtedness permitted to be Incurred under clause (a)(2) under Section 4.09 or any refinancing of such Indebtedness permitted pursuant to clause (b)(11) under Section 4.09 in each case, which Liens are junior in priority to the Second-Priority Liens pursuant to an intercreditor agreement to which the Trustee is a party, under which intercreditor agreement the rights of the holders of Second-Priority Liens with respect to such junior lien holders are not materially less favorable, taken as a whole, than the rights of the holders of First-Priority Liens with respect to holders of the Second-Priority Liens under the corresponding Intercreditor Agreement then in effect with respect to such Collateral.”

 

(f)                        A new Section 4.21 of the Indenture will be added, and will appear as follows:

 

“Section 4.21 Limitation on lines of business.

 

The Issuer will not, and will not permit any Restricted Subsidiary to, engage in any business other than a Related Business.”

 

2

 

(g)                     Section 12.01 shall be amended by inserting immediately after the phrase “10 Business Days” in the first sentence thereof, the following new phrase:

 

“or such longer period of time as set forth in the Collateral Documents”.

 

(h)                     Section 8.04(6) of the Indenture shall be deleted in its entirety and replaced with the following:

 

“(6)                            the Issuer shall have delivered to the Trustee an Opinion of Counsel to the effect that, as of the date of such opinion and subject to customary assumptions and exclusions, including that, assuming no intervening bankruptcy of the Issuer between the date of deposit and the 91st day following the deposit and assuming that no holder is an “insider” of the Issuer under applicable bankruptcy law, after the 91st day following the deposit, the trust funds will not be subject to the effect of Section 547 of Title 11 of the United States Code;”

 

(i)                         The only paragraph of Section 12.08 of the Indenture shall be deleted in its entirety and replaced with the following:

 

“If any Indebtedness permitted to be incurred under this Indenture is secured by Liens permitted to be incurred under this Indenture, the Collateral Agent shall, upon receipt of an Officers’ Certificate and an Opinion of Counsel, enter into an Intercreditor Agreement with the representative of the holders of such Indebtedness and the Administrative Agent with terms substantially similar to the Intercreditor Agreements in existence on the Issue Date.”

 

(j)                         Section 2.3(a) of Appendix A to the Indenture shall be amended by inserting as the last sentence thereto the following sentence:

 

“Notwithstanding any provision contained in this Indenture, (x) Additional Notes shall also be considered Rule 144A Notes or Regulations S Notes, as applicable, and (y) the Restricted Notes Legend contained on any Note shall not be permitted to be removed from such Note until the Restricted Notes Legends contained on all outstanding Notes are permitted to be removed, including Additional Notes.”

 

ARTICLE IV
 MISCELLANEOUS

 

Section 4.01.                             Relation to Indenture.  This Supplemental Indenture supplements the Indenture, and shall be a part and subject to all the terms thereof. Except as supplemented hereby, all of the terms, provisions and conditions of the Indenture, and the Notes issued thereunder shall continue in full force and effect.

 

Section 4.02.                             Governing Law.  THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

Section 4.03.                             Counterparts.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

 

Section 4.04.                             Headings.  The headings of the Sections of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

 

[signature pages follow]

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the day and year first above written.

 

 

	
 
    	
ISSUER
    
	
 
    	
 
    
	
 
    	
LIONS GATE ENTERTAINMENT INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Wayne Levin
    
	
 
    	
 
    	
Name: Wayne Levin
    
	
 
    	
 
    	
Title: Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PARENT
    
	
 
    	
 
    
	
 
    	
LIONS GATE ENTERTAINMENT CORP.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Wayne Levin
    
	
 
    	
 
    	
Name: Wayne Levin
    
	
 
    	
 
    	
Title: Executive Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GUARANTORS
    
	
 
    	
 
    
	
 
    	
100 PLUS PRODUCTIONS, INC.
    
	
 
    	
ABX PRODUCTIONS, INC.
    
	
 
    	
ALL ABOUT US PRODUCTIONS INC.
    
	
 
    	
ARIMA, INC.
    
	
 
    	
ARTISAN ENTERTAINMENT INC.
    
	
 
    	
ARTISAN FILMED PRODUCTIONS INC.
    
	
 
    	
ARTISAN HOME ENTERTAINMENT INC.
    
	
 
    	
ARTISAN PICTURES INC.
    
	
 
    	
ARTISAN RELEASING INC.
    
	
 
    	
BACKSEAT PRODUCTIONS, LLC
    
	
 
    	
BASTER PRODUCTIONS, LLC
    
	
 
    	
BD OPTICAL MEDIA, INC.
    
	
 
    	
BHF PRODUCTIONS, INC.
    
	
 
    	
BLAIR WITCH FILMS, LLC
    
	
 
    	
BLUE MOUNTAIN STATE PRODUCTIONS CORP.
    
	
 
    	
BOSS KANE PRODUCTIONS, INC.
    
	
 
    	
BURROWERS PRODUCTIONS, INC.
    
	
 
    	
COUNTRYMAN PRODUCTIONS, LLC
    
	
 
    	
CRASH 2 TELEVISION PRODUCTIONS, INC.
    
	
 
    	
CRASH TELEVISION PRODUCTIONS, INC.
    
	
 
    	
CUPID PRODUCTIONS, INC.
    
	
 
    	
DANCING ELK PRODUCTIONS, LLC
    

 

 

	
 
    	
DD2 ACQUISITION CORP.
    
	
 
    	
DEAD ZONE PRODUCTION CORP.
    
	
 
    	
DEBMAR STUDIOS, INC.
    
	
 
    	
DEBMAR/MERCURY (WW) PRODUCTIONS LLC
    
	
 
    	
DEBMAR/MERCURY, LLC
    
	
 
    	
DELISH PROJECTS, LLC
    
	
 
    	
DELISH TELEVISION DEVELOPMENT, LLC
    
	
 
    	
DJM SERVICES, INC.
    
	
 
    	
DODGE PRODUCTIONS LLC
    
	
 
    	
DRESDEN FILES PRODUCTIONS CORP.
    
	
 
    	
DRESDEN FILES PRODUCTIONS I CORP.
    
	
 
    	
FEAR ITSELF PRODUCTIONS CORP.
    
	
 
    	
FILM HOLDINGS CO.
    
	
 
    	
FIVE DAYS PRODUCTIONS CORP.
    
	
 
    	
GC FILMS, INC.
    
	
 
    	
GC SHORT FILMS, INC.
    
	
 
    	
GOOD EVEL PRODUCTIONS, INC.
    
	
 
    	
GRINDSTONE ENTERTAINMENT GROUP, LLC
    
	
 
    	
HEART FRANK, INC.
    
	
 
    	
HIGHER POST LLC
    
	
 
    	
HORSEMEN PRODUCTIONS, LLC
    
	
 
    	
INVISIBLE CASTING INC.
    
	
 
    	
IWC PRODUCTIONS, LLC
    
	
 
    	
JV1 DELISH, LLC
    
	
 
    	
KILL PIT PRODUCTIONS INC.
    
	
 
    	
LANDSCAPE ENTERTAINMENT CORP.
    
	
 
    	
LG HORROR CHANNEL HOLDINGS, LLC
    
	
 
    	
LG PICTURES INC.
    
	
 
    	
LIONS GATE FILMS INC.
    
	
 
    	
LIONS GATE FILMS   PRODUCTIONS CORP./ 
   PRODUCTIONS FILMS LIONS GATE S.A.R.F.
    
	
 
    	
LIONS GATE INDIA INC.
    
	
 
    	
LIONS GATE INTERNATIONAL SALES, LLC
    
	
 
    	
LIONS GATE MANDATE FINANCING VEHICLE INC.
    
	
 
    	
LIONS GATE MUSIC CORP.
    
	
 
    	
LIONS GATE MUSIC PUBLISHING LLC
    
	
 
    	
LIONS GATE MUSIC, INC.
    
	
 
    	
LIONS GATE ONLINE SHOP INC.
    
	
 
    	
LIONS GATE PENNSYLVANIA, INC.
    
	
 
    	
LIONS GATE RECORDS, INC.
    
	
 
    	
LIONS GATE SPIRIT HOLDINGS, LLC
    
	
 
    	
LIONS GATE TELEVISION DEVELOPMENT LLC
    
	
 
    	
LIONS GATE TELEVISION INC.
    
	
 
    	
LIONS GATE X PRODUCTIONS, LLC
    
	
 
    	
LOL PRODUCTIONS, LLC
    
	
 
    	
LUCKY 7 PRODUCTIONS CORP.
    
	
 
    	
LUDUS PRODUCTIONS, INC.
    
	
 
    	
MANDATE FILMS, LLC
    
	
 
    	
MANDATE PICTURES LLC
    
	
 
    	
MANIFEST ENTERTAINMENT, LLC
    
	
 
    	
MERCURY PRODUCTIONS, LLC
    

 

2

 

	
 
    	
MOTHER PRODUCTIONS CORP.
    
	
 
    	
MQP, LLC
    
	
 
    	
NEXT PRODUCTION INC.
    
	
 
    	
NGC FILMS, INC.
    
	
 
    	
NURSE PRODUCTIONS INC.
    
	
 
    	
PEARL RIVER HOLDINGS CORP.
    
	
 
    	
PEEPLES PRODUCTIONS, INC.
    
	
 
    	
PGH PRODUCTIONS, INC.
    
	
 
    	
PLANETARY PRODUCTIONS, LLC
    
	
 
    	
PLAYLIST, LLC
    
	
 
    	
POWER MONGERING DESPOT, INC.
    
	
 
    	
PRODUCTION MANAGEMENT INC.
    
	
 
    	
PROFILER PRODUCTIONS CORP.
    
	
 
    	
PSYCHO PRODUCTIONS SERVICES CORP.
    
	
 
    	
PWG PRODUCTIONS, INC.
    
	
 
    	
PX1 PRODUCTIONS CORP.
    
	
 
    	
PX1 PRODUCTIONS, INC.
    
	
 
    	
R & B PRODUCTIONS, INC.
    
	
 
    	
RABBIT PRODUCTIONS, INC.
    
	
 
    	
SCREENING ROOM, INC.
    
	
 
    	
SILENT DEVELOPMENT CORP.
    
	
 
    	
SKILLPA PRODUCTIONS, LLC
    
	
 
    	
SPECIAL OPS PRODUCTIONS, INC.
    
	
 
    	
SS3 PRODUCTIONS, INC.
    
	
 
    	
SWEAT PRODUCTIONS, INC.
    
	
 
    	
TALK PRODUCTIONS CORP.
    
	
 
    	
TED PRODUCTIONS, INC.
    
	
 
    	
TERRESTRIAL PRODUCTIONS CORP.
    
	
 
    	
TINY HORSE PRODUCTIONS, INC.
    
	
 
    	
TOUCH PRODUCTIONS CORP.
    
	
 
    	
U.R.O.K. PRODUCTIONS, INC.
    
	
 
    	
VERDICT PRODUCTIONS, INC.
    
	
 
    	
VESTRON INC.
    
	
 
    	
WEEDS PRODUCTIONS INC.
    
	
 
    	
WILDE KINGDOM PRODUCTIONS CORP.
    
	
 
    	
WILDFIRE 2 PRODUCTIONS INC.
    
	
 
    	
WILDFIRE 3 PRODUCTIONS INC.
    
	
 
    	
WILDFIRE 4 PRODUCTIONS INC.
    
	
 
    	
WILDFIRE PRODUCTIONS INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Wayne Levin
    
	
 
    	
 
    	
Name:
    	
Wayne Levin
    
	
 
    	
 
    	
Title:
    	
Authorized Signatory
    

 

3

 

	
 
    	
THE TRUSTEE
    
	
 
    	
 
    
	
 
    	
U.S. BANK   NATIONAL ASSOCIATION, as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paula Oswald
    
	
 
    	
 
    	
Name: Paula Oswald
    
	
 
    	
 
    	
Title: Vice President

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