Document:

ex102

Exhibit 10.2

 

PERSONAL AND CONFIDENTIAL

 

M E M O R A N D U M

 

TO:James P. O'Hanlon                                          November 5, 2002

FROM:Anne M. Grier                                                  Richmond, VA

 

Terms of Retirement 

 

This memorandum sets forth the terms and conditions of your retirement.

Effective December 1, 2002 you will resign from all positions you hold as an officer or board member of Dominion Resources or its affiliates and subsidiaries (collectively referred to as the "Company"), except for your position as Executive Vice President of Dominion Resources Services, Inc. You will resign from that position effective February 1, 2003 and your employment with the Company will then terminate and you will be considered retired.

The additional consideration described below will not be provided until a properly executed General Release becomes effective and enforceable. The release will become effective and enforceable seven days following your execution of the General Release.

 

	Stock Options: You have outstanding 280,000 non-qualified stock options granted on May 17, 1999. These options are fully vested and exercisable. As additional consideration, these options will remain exercisable to their expiration date of May 17, 2009. You have 350,000 stock options granted on July 1, 2001. These options will become fully vested and exercisable as of the date of your retirement, and as additional consideration, will remain exercisable until the following expiration dates: 

PercentageExpiration Date

33-1/3%January 1, 2008

33-1/3%January 1, 2009

33-1/3%January 1, 2010

	Retirement Benefit Restoration Plan: You will receive a benefit under the Company's Retirement Benefit Restoration Plan. As additional consideration, your benefit has been calculated using an age of 60 and 30 years of credited service. If you elect a lump sum payment, or a lump sum deferral to the Executive Deferred Compensation Plan or the Dominion Security Option Plan (the "Deferral Plans"), this benefit will be paid, subject to approval by the Administrative Benefits Committee, within 30 days of the date of your retirement. Please see Attachment A for an explanation of this benefit and the associated election forms. 

	Executive Supplemental Retirement Plan: Under the terms of the letter agreement dated September 18, 1997, you are entitled to a lifetime benefit under the Executive Supplemental Retirement Plan if your employment continues to age 60. As additional consideration, the age requirement for this benefit is being waived and you will receive a lifetime ESRP benefit as of your retirement date. If you elect a lump sum payment or a lump sum deferral to the Deferral Plans, this benefit will be paid or deferred, subject to approval by the Administrative Benefits Committee, within 30 days of the date of your retirement. Please see Attachment B for an explanation of this benefit and the associated election forms. 

	Financial Planning Services: You will receive Company-paid financial planning services for the years 2003 and 2004 up to a maximum of $8,500 per year. 

	COBRA Benefits (Dental & Vision): Under the terms of the Consolidated Omnibus Budget Reconciliation Act (COBRA), you are eligible for continued coverage under the Company's dental and vision benefit plans for 18 months or, if earlier, until you are covered by another group plan. After your retirement, you will automatically receive information containing the specifics of this program, along with the proper forms in order to elect continuation of coverage. Once you receive this material, it is very important that you read this information and respond within the stated guidelines, because there is only a limited amount of time to elect coverage under the COBRA provisions. If you do not receive this material by mid-February, please contact the Executive Compensation group. As an additional benefit, if you elect this coverage, the Company will pay the monthly premiums for these benefits during this 18 month period. See Attachment C. 

	Stock Purchase and Loan Program: You have an outstanding loan balance of $3,849,942.84 under the Company's Executive Stock Purchase and Loan Program. You may continue to participate in the Program after your retirement, and you will continue to receive the Company's interest rate subsidy for as long as you continue to hold the shares purchased with the loan. If you wish to cease your participation, the Company will pay for the prepayment fees and the $500 administration fee, plus as additional consideration, provide you with a gross-up amount to cover any related income taxes on the fees. Please see Attachment D for a detailed explanation if you wish to cease your participation. 

 

Other Employment Benefits

	Restricted Stock: You have 8,333 shares of restricted stock that will vest at the date of your retirement. The value of the shares on the vesting date (February 1, 2003) will be taxable income to you at that time. Applicable withholding taxes are due and payable immediately. Please see Attachment E for your choices with regard to the satisfaction of the withholding taxes and the disposition of the shares. 

	Profit Sharing Award: The 2002 Profit Sharing Plan award will be paid at the same time as other executives and it will be based on Company performance. In addition, within 30 days of your retirement date, you will be paid an amount equal to 1/12 of your 2003 Profit Sharing target award. 

	Unused Vacation: You will receive a payment in the amount for each day of unused 2002 and 2003 vacation plus one personal day for 2003. 

	Qualified Retirement Plan: You are eligible to receive a monthly benefit under the Dominion Resources Retirement Plan based upon your actual age at retirement (59.5 years of age), years of service to retirement date (13.0833 years of service), salary (highest 60 consecutive months during the most recent 120 months), and estimated Social Security benefits. You may elect to receive your monthly benefit in the form of either a straight life annuity, a joint & 50% survivor annuity, a joint & 100% survivor annuity, or a Social Security leveling annuity. You do not have to begin your annuity at your retirement date; you may wait until a future date to begin receiving your monthly payments. The longer you wait before beginning your annuity, the larger the monthly benefit amount will be. The Retirement Income Election Form is included as part of Attachment F for use in making your elections. 

	Retiree Medical Plan: You are entitled to medical coverage under the terms of the company's retiree medical plan as in effect from time to time, based on retirement in 2003 and a credited retirement age of 60 with 30 years of credited service. Please see Attachment G for details about the current terms of the Company's retiree medical plan and the election forms. 

	Qualified Salaried Savings Plan: Since you deferred a portion of your salary to the Savings Plan, you have an account balance available to you at retirement. This balance will include your contributions to the plan, Company matching contributions, and earnings and/or losses associated with the investment elections you selected. After your retirement, no further contributions (either employee or employer contributions) can be made to your account. Your account will continue to earn investment income based upon your investment elections.

You have several options concerning your existing account balance. The Internal Revenue Service does not allow you to make withdrawals (other than a rollover to an IRA or other tax-qualified plan) from a qualified savings plan without penalty until you reach age 59 1/2, or in certain situations age 55. Any withdrawal, whether now or at a future date, will be subject to income taxes in the year of distribution. Please see Attachment H, titled Participant Options at Termination, Retirement or Disability relating to the Dominion Salaried Savings Plan. To discuss your options further, or to make a retirement distribution election, please contact Dreyfus Retirement Services at 1-877-706-7283. 

	Retiree Life Insurance: The Company will provide you with retiree life insurance coverage equal to 75% of your final annual base salary. This life insurance coverage will be provided through a combination of group term and whole life insurance policies. The Company will make the premium payments related to the whole life insurance on an annual basis for seven years, after which time the policy will be fully paid-up. These annual premium payments will be taxable income to you, and will be reflected on a W-2 statement that will be issued by the Company to you each year. 

	Company Car: You may elect to receive your current Company car as a gift at retirement. The value of the car will be taxable income to you. In lieu of the gift of the car, the Company will make a lump sum cash payment to you in an amount equal of the value of the car, less applicable withholding taxes. Please see Attachment I to make your election. 

	Executive Deferred Compensation Plan (DCP): You currently have a balance in your Executive Deferred Compensation Plan account. You will also have the opportunity to defer any lump sum payments for which you may qualify under the ESRP and Benefit Restoration Plans.

Previously, you elected to receive a distribution from your account in the form of an annuity with five (5) annual installments. With an effective retirement date of February 1, 2003, your first installment is currently scheduled to begin in February 2004. If you elect to defer your ESRP and/or Benefit Restoration Plan lump sum payments into the DCP, you may complete a revised Distribution Election Form (enclosed - Attachment J) that will apply to the entire balance in your deferral account. If you do not submit a change on this form, your previous election will apply to your entire account balance. After retirement and subject to approval of the Administrative Benefits Committee, you may change your distribution schedule one time.

	Dominion Security Option Plan (DSOP): In addition to continuing your participation in the DCP, you have a one-time opportunity to transfer part or all of your DCP account balance into the DSOP (See Attachment K). You are eligible to receive the Company's lost matching contribution to the Savings Plan due to the Internal Revenue Code Section 401(a)(17) limit for the plan year. A calculation will be done in January 2003 to determine the amount, if any, that you may receive under the terms of the plan. Moreover, you may elect to defer your ESRP and BRP lump sum payments into the DSOP (see Attachment K).

 

GENERAL RELEASE OF CLAIMS

By signing and returning one copy of this memorandum, you agree that the payments and benefits described in this memorandum constitute a full settlement of the Company's obligations to you under any agreements relating to your employment. You also agree to sign and return along with this memorandum the General Release (Attachment L), and you acknowledge that you have received additional consideration as described in this memorandum in exchange for signing the General Release. 

Please also return all completed forms within the enclosed envelope.

Please feel free to call me if you have any questions about this memorandum or your retirement. 

Thank you.

Sincerely,

/s/ Anne M. Grier

Anne M. Grier

Director-Executive Compensation

 

Agreed:

        /s/ James P. O'Hanlon             

James P. O'Hanlon

      11/6/02                                     

Date

 

c: Personnel File

 

 

 

 

 

 

 

 

Attachment L

AGREEMENT AND GENERAL RELEASE

This Agreement and General Release ("General Release") is given by James P. O'Hanlon (the "Employee") to Dominion Resources, Inc., its subsidiaries, affiliates, directors, officers, and employees (collectively referred to as "Dominion"), in exchange for good and valuable consideration, the payment of which is acknowledged by the Employee.

	General Release.

Employee forever waives and releases any and all claims he has or may have against Dominion of any kind or nature whatsoever arising from facts, assertions, circumstances, omissions or matters occurring on or before the date hereof, including all claims arising from or relating in any way to the Employee's employment with Dominion or the conclusion of that employment (whether such claims are presently known or are hereafter discovered). This release includes, but is not limited to, a release of any claims in tort or contract, including claims for wrongful discharge, breach of the May 26, 1989 letter agreement between the Employee and Virginia Power; the December 14, 1990 Agreement between Employee and Virginia Electric & Power Company and/or the September 18, 1997 letter agreement between the Employee and Dominion Resources, Inc. or any other agreement, contract, practice or policy. In addition to any other claims, the Employee specifically waives, releases, and covenants not to sue or to file any charges or administrative actions with respect to any and all claims against Dominion, or under Title VII of the Civil Rights Act, the Virginia Human Rights Act, the Age Discrimination in Employment Act, the Fair Labor Standards Act, the Americans with Disability Act, the Family and Medical Leave Act, or any other federal, state, or local law governing employment of benefits. The Employee understands and agrees that by signing this General Release, he is forever barred from making any such claims against Dominion.

This General Release contains a release of all claims under the Age Discrimination in Employment Act ("ADEA") and, therefore, pursuant to the requirements of the ADEA, the Employee acknowledges that he has been advised that this release includes, but is not limited to, all claims under the ADEA arising up to and including the date of execution of this release; to consult with an attorney and or other advisor of his choosing concerning his rights and obligations under this release; to fully consider this release before executing it and that he has been offered ample time and opportunity, in excess of 21 days, to do so; and that this release shall become effective and enforceable 7 days following execution of this General Release by the Employee, during which 7-day period the Employee may revoke his acceptance of this General Release by delivering written notice to Anne M. Grier at Dominion Resources Services, Inc. at 120 Tredegar Street, Richmond, Virginia 23219.

 

2.Confidentiality.

Employee agrees to keep confidential and not disclose or make use of any Confidential Information received during or as a result of his prior services to the Company, except as permitted in writing by the Chief Financial Officer of Dominion Resources, Inc. or as ordered by a court of competent jurisdiction. For purposes of this Agreement and General Release, Confidential Information is information about the Company or its affiliates which might reasonably be considered to be (i) confidential, (ii) adverse to the interest of the Company or its affiliates, (iii) information concerning the Company's business, business or strategic plans, or business practices that others in its industry do not generally know, or (iv) a trade secret.

 

3.Miscellaneous.

To the extent not governed by federal law, this General Release will be construed in accordance with the laws of the Commonwealth of Virginia, without reference to its conflict of laws rules. No provision of this General Release may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and the writing is signed by the Employee and Dominion. A waiver of any breach of or compliance with any provision or condition of this General Release is not a waiver of similar or dissimilar provisions or conditions.

 

 

WITNESS THE FOLLOWING SIGNATURE:

 

          /s/James P. O'Hanlon                

 James P. O'Hanlon                      

 

 

 

STATE OF                     Virginia                          )

CITY/COUNTY OF           Richmond                          )

 

I, a Notary Public in and for the above jurisdiction, hereby certify that the 

above named individual, personally known to me, appeared before me this       6th     day of            November             , 2002, and executed the foregoing General Release.

                         /s/ Bettw W. Moore               

Notary Public                     

 (Seal)                              

 

My commission expires: January 31, 2004EXHIBIT 10

EXHIBIT 10.27

      RETAINER AGREEMENT

This Retainer Agreement (“Agreement”) is entered into by and between AMC
ENTERTAINMENT INC., a Delaware corporation, and its subsidiaries and affiliates (the “Company”), and RAYMOND F.
BEAGLE, JR. (“RFB”).  In consideration of the mutual promises and covenants contained herein, the parties
hereto agree as follows:

Engagement.  The Company hereby engages RFB to continue as the Company’s
General Counsel.  The Company agrees that, notwithstanding this engagement, RFB may continue the active practice of
law.

Term.  The term of this Retainer Agreement shall commence as of July 1,
2001  and shall terminate on March 31, 2003, or sooner as provided in Section 5 below (such period, as it may be extended, the
“Term”).

Compensation.

 

Retainer Fee.  During the Term of this engagement, RFB shall receive an annual
retainer of $450,000.00.   In addition, RFB shall be eligible to receive additional payments, benefits or bonuses as
determined from time to time in the sole discretion of the Chairman of the Board, President and Chief Executive Officer of the
Company.

Deferred Compensation.  The Company agrees to maintain on its books a deferred
compensation account (the “Account”) to which it has credited certain amounts as of the end of the Company’s
fiscal year preceding the date of this Agreement (the “Initial Balance”) and to which it shall credit additional
amounts in the future pursuant to this Section 3(b).  The Company also has established, and agrees to maintain, a “Trust
Under Retainer Agreement Between AMC and R. F. Beagle, Jr.” dated May 19, 1997, to which the Company has contributed, and may
contribute in the future, certain amounts for the purpose of discharging its obligations hereunder to RFB and/or to his beneficiary
or estate, but subject to the claims of the Company’s creditors in the event of its insolvency.

The Initial Balance, together with the amount of any deferred bonus and other
amounts  credited to the Account in the future, shall be credited annually with simple interest at the prime rate (as defined
in the Wall Street Journal) plus one percent (1%), determined by averaging such rates as of the last day of each calendar quarter
during the fiscal year.  Interest shall be credited annually, as of the last day of each fiscal year, based on the unpaid
balance in the Account, continuing after payments have commenced.  Any deferred bonus earned for the prior fiscal year shall
be credited as of the first day of the following fiscal year, although not determined or awarded until a later date.  During
any fiscal year in which a payment or payments are made to RFB or his beneficiary (or estate), interest shall accrue on the last
day of each calendar quarter, based on the average balance credited to the Account during the quarter.

Amounts credited to the Account are fully vested and nonforfeitable.  Payment from
the Account shall commence upon the earlier of (a) termination of this Agreement or of RFB’s status as General Counsel, for
any reason; (b) RFB’s Resignation, Death or Disability; or (c) a Change in Control, all as defined below, and shall be paid
in substantially equal monthly installments for a period of twelve (12) years.  The monthly amount shall be calculated, in
consultation with AMC’s compensation consultant or pension plan actuary, based on the amount credited to the Account at the
time payments commence and a reasonable projection of the prime rate of interest over the payment period, with any adjustment
necessary to be made biannually.

The provisions of this Section 3(b), including maintenance of the Account, shall continue
in full force and effect until all payments have been made to RFB and/or his beneficiary or estate hereunder, notwithstanding the
termination of any other or all provisions of this Agreement.

Termination.  This Retainer Agreement may be terminated upon the earliest to
occur of the following events:

Resignation.  RFB’s resignation or voluntary departure.

Death.  The death of RFB.

Disability.  If, as a result of RFB’s incapacity due to physical or
mental illness, (i) RFB shall not have been regularly performing his duties and obligations hereunder for a period of one hundred
twenty (120) consecutive days (a “Disability”), (ii) the Company has given RFB the written Notice of Termination
pursuant to Section 5(a) hereof, and (iii) within thirty (30) days after the Company gives RFB such written Notice of Termination
(which may occur before or after the end of such 120 day period), RFB shall not have returned to the performance of his duties and
obligations hereunder on a regular basis.

Cause.  RFB is terminated for Cause.  For purposes of this Agreement,
“Cause” is defined as (i) the willful and continued failure by RFB to perform substantially his duties with the Company
(other than any such failure resulting from his incapacity due to physical or mental illness), or (ii) the willful engaging by RFB
in misconduct which is materially and demonstrably injurious to the Company.  For purposes of this Agreement, no act, or
failure to act, on the part of RFB shall be considered “willful” unless such act was committed, or such failure to act
occurred, in bad faith and without reasonable belief that RFB’s act or failure to act was in the best interests of the
Company.

Without Cause.  This Retainer Agreement may be terminated without cause at any
time by the Company’s Chairman of the Board, President and Chief Executive Officer with the approval of the Board of
Directors.

Good Reason.  RFB terminates his engagement by the Company hereunder for Good
Reason.  For purposes of this Retainer Agreement, a “Good Reason” shall mean (i) a failure by the Company to
comply with any material provisions of this Retainer Agreement which has not been cured within thirty (30) days after written
notice of such noncompliance has been given to the Company by RFB, (ii) any purported termination of RFB which is not effected
pursuant to a Notice of Termination, as defined in Sections 5 and 10 below (and for purposes of this Retainer Agreement no such
purported termination shall be effective), (iii) the assignment to RFB of any duties inconsistent in any material respect with
Section 1 of this Retainer Agreement, or any other actions by the Company that results in a material diminution of RFB’s
position, authority, duties or responsibilities, other than an action that is not taken in bad faith and is remedied by the Company
promptly after receipt of notice thereof from RFB, (iv) any material reduction in RFB’s Retainer, or (v) any requirement that
RFB relocate his law practice.  RFB must notify the Company in writing within thirty (30) days of becoming aware of the
occurrence of any of (i) through (v) above in order to receive the payments described in Section 6(c) below.

(g)  Change of Control.  RFB terminates his engagement by the Company
hereunder in the event of a Change of Control as defined below.  RFB must not be the person or part of a group or an entity
which effected the Change in Control, and must notify the Company in writing of such termination within sixty (60) days after the
occurrence of a Change of Control, in order to receive the payments described in Section 6(c) below.  RFB will not be
considered to have participated in or effected a Change of Control if the stock (or beneficial interest) owned by the Durwood
Voting Trust, the Durwood Revocable Trust, The Pamela Durwood Marital Trust or The Durwood Foundation was required to be sold,
pledged, or otherwise disposed, if such action was advised by independent counsel in response to claims of the Internal Revenue
Service, or to comply with the requirements of federal or state tax laws or regulations or was required in connection with the
administration of the Estate of Stanley H. Durwood.

For purposes of this Agreement a “Change of Control” means (i) a merger,
consolidation or similar transaction involving the Company after which holders of the Company’s stock before such transaction
do not own at least 50% of the combined voting power of all shares generally entitled to vote in the election of the members of the
Board of Directors of the surviving entity, (ii) the acquisition by any person or group (other than Apollo or the holders of Class
B Stock on the Initial Issuance Date), so long as neither Apollo nor such holders of Class B Stock is a part of such group (as
such term is defined in Section 13(d) of the Securities Exchange Act of 1934, as amended, and the regulations promulgated
thereunder), of beneficial ownership of at least 50% of the combined voting power of all shares generally entitled to vote in the
election of the members of the Board of Directors of the Company, or (iii) the sale of all or substantially all of the assets of
the Company or similar transaction (the determination of aggregate voting power to recognize that the Company’s Class B Stock
has ten votes per share and the Company’s Common Stock has one vote per share).

“Apollo” means Apollo Management IV, L.P., Apollo Management V,  L.P. and
their affiliates.

“Class B Stock” means the Class B Stock, par value $0.66 2/3 per share, of the
Company.

“Common Stock” means the Common Stock, par value $0.66 2/3 per share, of the
Company.

“Initial Issuance Date” means April 19, 2001, the first date of issuance of
the Preferred Stock (as defined in the Investment Agreement described below, which definition is incorporated herein by this
reference) pursuant to the closing of the Investment Agreement.

“Investment Agreement” means the Investment Agreement entered in as of April
19, 2001 among the Company and certain investors named therein.

(h) Retirement.  The retirement of RFB.

5.       Termination Procedure.

(a)  Notice of Termination.  Any termination of RFB by the Company or by
RFB (other than termination pursuant to Section 4(a) or (b) hereof) shall be communicated by written Notice of Termination to the
other party hereto in accordance with Section 10.  For purposes of this Retainer Agreement, a “Notice of
Termination” shall mean a notice which shall indicate the specific termination provision in this Retainer Agreement relied
upon and shall, where applicable, set forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of RFB under the provisions so indicated.

(b)  Date of Termination.  “Date of Termination” shall mean
(i) if RFB’s engagement is terminated by RFB’s resignation, retirement or other voluntary departure, the date of such
event, (ii) if RFB’s engagement by the Company is terminated by his death, the date of death, (iii) if RFB’s engagement
by the Company is terminated pursuant to Section 4(c) hereof, thirty (30) days after Notice of Termination is given (provided that
RFB shall not have again become available for service to the Company on a regular basis during such thirty (30) day period), (iv)
if RFB’s engagement by the Company is terminated for Cause, the date specified in the Notice of Termination, and (v) if
RFB’s engagement by the Company is terminated for any other reason, the date on which a Notice of Termination is
given.

6.        Compensation During Disability or Upon
Termination.

(a)  During Disability.  During any period that RFB fails to perform his
duties under this Retainer Agreement as a result of incapacity due to physical or mental illness (a “disability
period”), RFB shall continue to receive his Retainer at the rate then in effect for such period until his engagement by the
Company is terminated pursuant to Section 4(c) hereof, provided that payments so made to RFB during the first 180 days of any such
disability period shall be reduced by the sum of the amounts, if any, paid to RFB at or prior to the time of any such payment under
disability benefit plans of the Company or under the Social Security disability insurance program, and which amounts were not
previously applied to reduce any such payment.

(b)        Termination for RFB Resignation, Cause or
Retirement.  If RFB’s engagement by the Company is terminated pursuant to Section 4(a), (d) or (h), the Company
shall pay RFB his accrued but unpaid Retainer through the Date of Termination at the rate in effect at the time Notice of
Termination is given, and the Company shall have no further obligations to RFB under this Retainer Agreement other than those
provided in Section 3(b) (Deferred Compensation) which shall, as stated, continue in full force and effect as provided
therein.

(c)        Termination for Death, Disability,
Without Cause or by RFB  for Good Reason or Change of Control.  If RFB’s employment by the Company is
terminated pursuant to Section 4(b), (c), (e), (f) or (g), the Company shall pay to RFB or his personal representative the
compensation payments described in (i) and (ii) below; provided, that RFB also must have timely notified the Company as provided in
Sections 4(f) and (g), as applicable, in order to receive such payments.  All amounts under this Section 6(c) shall be reduced
by withholding for applicable taxes, if any.

(i)    A lump-sum cash payment equal to the sum of RFB’s Annual
Retainer at the rate in effect on the Date of Termination for the remainder of the Term.

(ii)      A lump-sum cash payment equal to
the difference between (A) the value of all vested and unvested stock options, if any, granted by the Company to RFB which
have an exercise price per share less than the closing price per share of the AMCE’s Common Stock as reported on the American
Stock Exchange or other stock exchange or automated quotation system (the “Closing Price”) on the Date of Termination
and (B) the exercise price of such options.  For purposes of determining the option value, the Company’s stock price as
described above as of the Date of Termination will be used.  Upon such payment by the Company to RFB, all such options will be
cancelled.

7.        Confidentiality.  RFB
acknowledges that he knows and in the future will know information relating to the Company and its affiliated companies and their
respective operations that is confidential or a trade secret.  Such information includes information, whether obtained in
writing, in conversation or otherwise, concerning corporate strategy, intent and plans, business operations, pricing, costs,
budgets, equipment, the status, scope and term of pending acquisitions, negotiations and transactions, the terms of existing or
proposed business arrangements, contracts and obligations, and corporate and financial reports.  Such confidential or trade
secret information shall not, however, include information in the public domain unless RFB has, without authority, made it
public.

RFB shall (a) not disclose such information to anyone except in confidence and as is
necessary to the performance of his duties for the Company, (b) keep such information confidential, (c) take appropriate
precautions to maintain the confidentiality of such information, and (d) not use such information for personal benefit or the
benefit of any competitor or any other person.

Upon termination of his engagement by the Company under this Retainer Agreement, RFB shall
return all materials in his possession or under his control that were prepared by or relate to the Company or its affiliates,
including, but not limited to, materials containing confidential information, files, memorandums, price lists, reports, budgets and
handbooks.

RFB’s obligation under this Section 7 shall survive the termination of RFB’s
engagement by the Company under this Retainer Agreement.

8.    Equitable Remedies.  The parties acknowledge that
irreparable damage will result to the Company from any violation of Section 7 above by RFB.  The parties expressly agree that,
in addition to any and all remedies available to the Company for any such violation, the Company shall have the remedy of
restraining order and injunction and any such equitable relief as may be declared or issued to enforce the provisions of Section 7
above and RFB agrees not to claim in any such equitable proceeding that a remedy at law is available to the Company. 
Notwithstanding anything contained herein to the contrary and if, and only if, any provision of the type contained in Section 7
above, as the case may be, is enforceable in the jurisdiction in question, if any one or more of the provisions contained in such
Section shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, such
provision shall be construed by limiting and reducing it so as to be enforceable to the extent compatible with the applicable law
in such jurisdiction as it shall then appear.

9.    Successors: Binding Agreement.

(a)        Company Successors.  The Company
will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all the business of the Company, by agreement in form and substance satisfactory to RFB, to expressly assume and agree to perform
this Retainer Agreement in the same manner and to the same extent that the Company would be required to perform it if no such
succession had taken place.

(b)  RFB’s Successors.  This Retainer Agreement and all rights
hereunder shall be binding upon, inure to the benefit of and be enforceable by RFB’s personal or legal representatives,
heirs, successors and permitted assigns.

10.    Notices.  All notices, requests, demand or other
communications under this Retainer Agreement shall be in writing addressed as follows:

(a)  If to the Company, to:

Peter C. Brown

AMC Entertainment Inc.

920 Main Street

Kansas City, Missouri 64105

(b)  If to RFB, to:

Raymond F. Beagle, Jr.

Lathrop & Gage L.C.

2345 Grand Boulevard

Kansas City, Missouri 64108

Any such notice, request, demand or other communication shall be effective as of the date
of actual delivery thereof.  Either party may change such notice address by written notice as provided herein.

11.  Compensation.  The compensation to be paid to RFB under this
Retainer Agreement shall be in full payment for all services rendered by RFB in any capacity to the Company or any affiliate of the
Company.

12.    Additional Potential Compensation.  Nothing in this
Retainer Agreement shall prohibit the Company from awarding additional compensation to RFB if it is determined that such
compensation is warranted based on RFB’s performance.

13.    Other Provisions.  This Retainer Agreement shall be
governed by the laws of the State of Missouri.  This Retainer Agreement represents the entire agreement of the parties hereto
and shall not be amended except by a written agreement signed by all the parties hereto.  This Retainer Agreement supersedes
any prior oral or written agreements or understandings between the Company or any affiliate of the Company and RFB.  This
Retainer Agreement shall not be assignable by one party without the  prior written consent of the other party, except by the
Company if it complies with Section 9 above.  In the event one or more of the provisions contained in this Retainer Agreement
or any application thereof shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions of this Retainer Agreement or any other application thereof shall not in any way be affected or impaired
thereby.  Section headings herein have no legal significance.

14.  Arbitration.  Any legal dispute related to this Retainer Agreement,
and/or any claim related to this Retainer Agreement, or breach thereof, shall, in lieu of being submitted to a court of law, be
submitted to arbitration, in accordance with the applicable dispute resolution procedures of the American Arbitration
Association.  The award of the arbitrators shall be final and binding upon the parties.

The parties hereto agree that (i) three arbitrators shall be selected pursuant to the
rules and procedures of the American Arbitration Association, (ii) at least one arbitrator shall be a licensed attorney, (iii) the
arbitrators shall have the power to award injunctive relief or to direct specific performance, (iv) each of the parties, unless
otherwise provided by applicable law and procedures, shall bear its own attorneys’ fees, costs and expenses and an equal
share of the arbitrators’ and administrative fees of arbitration, and (v) the arbitrators shall award to the prevailing party
a sum equal to that party’s share of the arbitrators’ and administrative fees of arbitration.

Nothing in this Section shall be construed as providing RFB a cause of action, remedy or
procedure that RFB would not otherwise have under this Retainer Agreement or the law.  RFB understands that in signing this
Retainer Agreement he is waiving any right that he may have to a jury trial or a court trial of any legal dispute as set forth
above.

THIS RETAINER AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED
BY THE PARTIES.

IN WITNESS WHEREOF, the parties have executed this Retainer Agreement on October 1,
2002.

AMC ENTERTAINMENT INC.,

a Delaware corporation

By:______________________________________

Peter C. Brown, Chairman of the Board,

President and Chief Executive Officer

_________________________________________

RAYMOND F. BEAGLE, JR.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]