Document:

Management Agreement Dated as of July 30, 2004

 Exhibit 10.6 
  
 MANAGEMENT AGREEMENT 
  
 This Management Agreement (this “Agreement”) is entered into as of July 30, 2004 by and among LCE Acquisition Corporation, a Delaware
corporation (“AcquisitionCo”), LCE Holdco LLC, a Delaware limited liability company (“Holdco”), LCE Intermediate Holdings, Inc., a Delaware corporation (“Intermediate”), LCE Holdings, Inc., a
Delaware corporation (“Holdings” and, together with AcquisitionCo, Holdco and Intermediate, the “Loews Corporations”), Bain Capital Partners, LLC, a Delaware limited liability company (“Bain”), TC
Group, L.L.C., a Delaware limited liability company, (“Carlyle”) and Applegate and Collatos, Inc. a Delaware corporation (“Spectrum” and, together with Bain and Carlyle, the “Managers”). 

 
 RECITALS 
  
 WHEREAS, Holdings, Intermediate, Holdco and AcquisitionCo have been formed
for the purpose of acquiring (the “Acquisition”) all of the outstanding shares of capital stock of Loews Cineplex Entertainment Corporation (the “Company” and, immediately after the closing of the Acquisition, a
“Loews Corporation”) from Onex American Holdings II LLC, the Onex Corporation Management Investment Plan, Loews Executive Investco LLC, Loews Partners LP, OCM Cinema Holdings, LLC, Allen Karp, John Bonnett McCoy and Granite
Investment Limited Partnership (the “Sellers”), all on the terms and subject to the conditions of that certain Stock Purchase Agreement dated as of June 18, 2004 (the “Purchase Agreement”) among the Sellers,
Holdings and the Company; 
  
 WHEREAS, immediately after the
closing of the Acquisition, AcquisitionCo will merge with and into the Company; 
  
 WHEREAS, to enable the Loews Corporations to engage in the Acquisition and related transactions, the Managers provided financial and structural advice and analysis as well as assistance with due diligence
investigations and negotiations (the “Financial Advisory Services”); and 
  
 WHEREAS, the Loews Corporations want to retain the Managers to provide certain management and advisory services to the Loews Corporations, and the Managers are willing to provide such services on the terms set forth
below. 
  
 AGREEMENT 
  
 NOW THEREFORE, in consideration of the mutual covenants contained herein, the
parties hereto, intending to be legally bound, hereby agree as follows: 
  
 1. Services. Each of the Managers hereby agrees that, during the Term (as defined below), it will provide the following consulting and management advisory services to the Loews Corporations as requested from time to time by the
Boards of Directors of the Loews Corporations: 
  
 (a) advice in connection with the negotiation and consummation of agreements, contracts, documents and instruments necessary to provide the Loews Corporations with financing on terms and conditions satisfactory to the Loews Corporations;

 (b) financial, managerial and operational advice in connection with the Company’s
day-to-day operations, including, without limitation, advice with respect to the development and implementation of strategies for improving the operating, marketing and financial performance of the Company and its subsidiaries; and 
  
 (c) such other services (which may include financial and
strategic planning and analysis, consulting services, human resources and executive recruitment services and other services) as such Manager and the Loews Corporations may from time to time agree in writing. 
  
 Each of the Managers shall devote such time and efforts to the performance of services
contemplated hereby as such Manager deems reasonably necessary or appropriate; provided, however, that no minimum number of hours is required to be devoted by Bain, Carlyle or Spectrum on a weekly, monthly, annual or other basis. The Loews
Corporations acknowledge that each of the Managers’ services are not exclusive to any of the Loews Corporations and that each Manager will render similar services to other persons and entities. The Managers and the Loews Corporations understand
that the Loews Corporations may, at times, engage one or more investment bankers or financial advisors to provide services in addition to, but not in lieu of, services provided by the Managers under this Agreement (including those services described
in Section 2(c)). In providing services to the Loews Corporations, each Manager will act as an independent contractor, and it is expressly understood and agreed that this Agreement is not intended to create, and does not create, any partnership,
agency, joint venture or similar relationship and that no party has the right or ability to contract for or on behalf of any other party or to effect any transaction for the account of any other party. 
  
 A Manager shall cease to be a Manager for all purposes hereunder at such time and at all
times thereafter that the Manager and the affiliates of such Manager, in the aggregate, cease to hold Shares (as defined in the Stockholders Agreement) representing a Total Combined Investment (as defined in the certificate of incorporation of
Holdings) of at least the Minimum Total Combined Investment (as defined in the certificate of incorporation of Holdings). 
  
 2. Payment of Fees. 
  
 (a) The Loews Corporations, jointly and severally, will pay to the Managers (or such affiliates as they may respectively designate), in
consideration of the Managers providing the Financial Advisory Services, an aggregate transaction fee (the “Transaction Fee”) in the amount of $20,000,000, such fee being payable at the closing of the Acquisition. The Transaction
Fee shall be divided among the Managers as follows: 
  

				
	 Bain:
	  	$	7,555,555.56
	 Carlyle:
	  	$	7,555,555.56
	 Spectrum:
	  	$	4,888,888.88

  

 -2- 

 (b) During the Term, the Loews Corporations, jointly and severally, will pay to the
Managers (or such affiliates as they may respectively designate), an aggregate annual periodic fee (the “Periodic Fee”) of $4,000,000 in exchange for the ongoing services provided by the Managers under this Agreement, such fee being
payable by the Company quarterly in advance on or before the start of each calendar quarter; provided, however, that the Periodic Fee for the period from the date hereof through September 30, 2004 shall be paid at the closing of the
Acquisition. The Periodic Fee shall be non-refundable. The Periodic Fee shall be divided among the Managers pro rata in proportion to the amount of Investor Shares held at the time by the investment funds affiliated with each Manager
(provided that, for purposes of this Agreement, (a) Bain Capital Holdings (Loews) I, L.P., Bain Capital AIV (Loews) II, L.P. and their respective Affiliated Funds shall be deemed to be investment funds affiliated with Bain; (b) TC Group
Investment Holdings, L.P., Carlyle Partners III Loews, L.P., CP III CoInvestment, L.P. and their respective Affiliated Funds shall be deemed to be investment funds affiliated with Carlyle; and (c) Spectrum Equity Investors IV, L.P., Spectrum Equity
Investors Parallel IV, L.P., Spectrum IV Investment Managers’ Fund, L.P. and their respective Affiliated Funds shall be deemed to be investment funds affiliated with Spectrum). In the preceding sentence, the term “Affiliated
Funds” shall have the same meaning given to it in that certain Stockholders Agreement (as defined below). In this Agreement, the term “Investor Shares” means at any time all shares of capital stock of Holdings, Intermediate
and Holdco (and any successor or survivor to Holdings, Intermediate or Holdco) held by the Managers and their respective Affiliated Funds. 
  
 (c) During the Term, the Managers will advise the Loews Corporations in connection with financing, acquisition, disposition, merger,
combination and change of control transactions involving any of the Loews Corporations or any of their respective direct or indirect subsidiaries and affiliates (however structured), and the Loews Corporations, jointly and severally, will pay to the
Managers (or such affiliates as they may respectively designate) additional reasonable compensation as charged by the Managers (and approved by the Requisite Manager Majority) (the “Subsequent Fee”) in connection with each such
transaction (which fee shall be in addition to, and not in lieu of, the full payment of fees in clauses (a) and (b) above), such fee to be due and payable for the foregoing services at the closing of such transaction; provided, that after the
Term the Loews Corporations, jointly and severally, will pay to the Managers (or such affiliates as they may respectively designate) the Subsequent Fee in connection with each transaction that (a) was contemplated at the time of termination of the
Agreement and (b) is consummated after such termination. Each Subsequent Fee shall be divided among the Managers pro rata in proportion to the amount of Investor Shares held immediately prior to the closing the applicable transaction (or, if there
shall be no such Shares outstanding, the amounts most recently outstanding) by the Managers and their respective Affiliated Funds.  
  
 Each payment made pursuant to this Section 2 shall be paid by wire transfer of immediately available federal funds to the accounts specified on Schedule 1 hereto, or to
such other account(s) as the Managers may specify to the Company in writing prior to such payment. 
  

 -3- 

 3. Term. This Agreement shall continue in full force and effect until December 31, 2014 (as
extended or terminated as provided below, the “Term”); provided that this Agreement shall be automatically extended each December 31 for an additional year unless the Loews Corporations or the Requisite Manager Majority
provide written notice of their desire not to automatically extend the term of this Agreement to the other parties hereto at least 90 days prior to such December 31; provided, however, that the Requisite Manager Majority may cause this
Agreement to terminate at any time. In the event of a termination of this Agreement, the Loews Corporations, jointly and severally, shall pay each of Bain, Carlyle and Spectrum (or such affiliates as they may respectively designate) (i) all unpaid
Periodic Fees (pursuant to Section 2(b) above), Subsequent Fees (pursuant to Section 2(c) above) and expenses (pursuant to Section 4(a) below) due with respect to periods prior to the date of termination plus (ii) the net present value (using a
discount rate equal to the then yield on U.S. Treasury Securities of like maturity) of the Periodic Fees that would have been payable with respect to the period from the date of termination until the expiration date in effect immediately prior to
such termination. Sections 2(c), 3, 4 and 5 of this Agreement shall survive any termination of this Agreement. 
  
 For purposes hereof, “Requisite Manager Majority” shall mean at any time the approval of (a) each of at least two Managers if there is more than one Manager and (b) a single Manager if there is only
one Manager. 
  
 4. Expenses; Indemnification. 

 
 (a) Expenses. The Loews Corporations, jointly and
severally, will pay on demand all Reimbursable Expenses. As used herein, “Reimbursable Expenses” means (i) all expenses incurred or accrued prior to the date on which the transactions contemplated by the Purchase Agreement are
consummated (the “Closing Date”) by any of the Managers or their affiliates in connection with this Agreement, the Acquisition or any related transactions, consisting of their respective out-of-pocket expenses and the fees
and charges of (A) Ropes & Gray LLP, (B) PricewaterhouseCoopers LLP, (C) Latham & Watkins LLP, (D) Ernst & Young LLP, (E) Deloitte & Touche LLP and (F) local and foreign counsel and (ii) reasonable out-of-pocket expenses incurred
from and after the Closing Date relating to their affiliated funds’ investment in, the operations of, or the services provided by the Managers to, the Loews Corporations or any of their affiliates from time to time, provided, however,
that the Requisite Manager Majority must approve any such expenses other than routine out-of-pocket expenses, (iii) reasonable out-of-pocket legal expenses incurred by any Manager or its affiliates from and after Closing Date in connection with the
enforcement, preservation or analysis of rights or taking of actions under this Agreement, the Subscription Agreement, the Loews Corporations’ certificates of incorporation and bylaws or other organizational documents, the Stockholders
Agreement, the Registration Rights Agreement or the Management Stockholders Agreement; provided that the reimbursement of expenses incurred by the Subscribers or their Affiliates with respect to transactions pursuant to Section 4.1 of the
Stockholders Agreement (Tag-Along Expenses), Section 4.2 of the Stockholders Agreement (Drag-Along Expenses), Section 4.4 of the Stockholders Agreement (Right of First Offer Expenses) and Section 5.1 of the Stockholders Agreement (Right of
Participation Expenses) will be governed by, and subject to any limitations 

  

 -4- 

 
contained in, the applicable provisions of the Stockholders Agreement and the reimbursement of expenses with respect to transactions pursuant to Section 2 of
the Registration Rights Agreement (Registration Rights Expenses) will be governed by, and subject to any limitations contained in, the applicable provisions of the Registration Rights Agreement and (iv) expenses incurred from and after the Closing
Date by one or more of the Managers and their affiliates which the Requisite Manager Majority agrees are properly allocable to the Loews Corporations under this Agreement. 
  
 As used in this Agreement, “Subscription Agreement” means the Subscription Agreement dated July 30, 2004
among Holdings, Intermediate, Holdco, AcquisitionCo and the Subscribers (as defined in the Subscription Agreement), “Stockholders Agreement” means the Stockholders Agreement dated July 30, 2004 among Holdings, Intermediate, Holdco,
AcquisitionCo and certain stockholders of Holdings and Intermediate, “Registration Rights Agreement “ means the Registration Rights Agreement dated July 30, 2004 among Holdings, Intermediate, Holdco, AcquisitionCo and certain
stockholders of Holdings and Intermediate and “Management Stockholders Agreement” means any Management Stockholders Agreement entered into among Holdings, Intermediate, Holdco, AcquisitionCo and certain stockholders of Holdings or
Intermediate. 
  
 (b) Indemnity and
Liability. The Loews Corporations, jointly and severally, will indemnify, exonerate and hold each of the Managers, and each of their respective partners, shareholders, members, affiliates, directors, officers, fiduciaries, managers, controlling
Persons, employees and agents and each of the partners, shareholders, members, affiliates, directors, officers, fiduciaries, managers, controlling Persons, employees and agents of each of the foregoing (collectively, the
“Indemnitees”) free and harmless from and against any and all actions, causes of action, suits, claims, liabilities, losses, damages and costs and out-of-pocket expenses in connection therewith (including reasonable attorneys’
fees and expenses) incurred by the Indemnitees or any of them before or after the date of this Agreement (collectively, the “Indemnified Liabilities”), as a result of, arising out of, or in any way relating to (i) this Agreement,
the Registration Rights Agreement, the Acquisition, any transaction to which a Loews Corporation is a party or any other circumstances with respect to a Loews Corporation (other than any such Indemnified Liabilities to the extent such Indemnified
Liabilities arise out of any breach of the Stockholders Agreement or the Subscription Agreement by such Indemnitee or its affiliated or associated Indemnitees or other related persons as determined by a court of competent jurisdiction in a final
nonappealable judgment) or (ii) operations of, or services provided by any of the Managers to, the Loews Corporations, or any of their affiliates from time to time (including but not limited to any indemnification obligations assumed or incurred by
any Indemnitee to or on behalf of the Sellers, the debt financers of the Loews Corporations or any of their respective accountants or other representatives, agents or affiliates) (other than any such Indemnified Liabilities to the extent such
Indemnified Liabilities arise out of any breach of the Stockholders Agreement or the Subscription Agreement by such Indemnitee or its affiliated or associated Indemnitees or other related persons as determined by a court of competent 

  

 -5- 

 
jurisdiction in a final nonappealable judgment); provided that the foregoing indemnification rights shall not be available to the extent that any such
Indemnified Liabilities arose on account of such Indemnitee’s gross negligence or willful misconduct, and further provided that, if and to the extent that the foregoing undertaking may be unavailable or unenforceable for any reason, the
Loews Corporations hereby agree to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. For purposes of this Section 4(b), none of the circumstances described
in the limitations contained in the two provisos in the immediately preceding sentence shall be deemed to apply absent a final non-appealable judgment of a court of competent jurisdiction to such effect, in which case to the extent any such
limitation is so determined to apply to any Indemnitee as to any previously advanced indemnity payments made by the Loews Corporations, then such payments shall be promptly repaid by such Indemnitee to the Loews Corporations. The rights of any
Indemnitee to indemnification hereunder will be in addition to any other rights any such person may have under any other agreement or instrument referenced above or any other agreement or instrument to which such Indemnitee is or becomes a party or
is or otherwise becomes a beneficiary or under law or regulation. None of the Indemnitees shall in any event be liable to the Loews Corporations or any of their affiliates for any act or omission suffered or taken by such Indemnitee that does not
constitute gross negligence or willful misconduct. If the Indemnitees related to each of the three Managers are similarly situated with respect to their interests in connection with a matter that may be an Indemnified Liability and such Indemnified
Liability is not based on a Third-Party Claim, the Indemnitees may enforce their rights pursuant to this Section 4(b) with respect to such matter only with the consent of the Requisite Manager Majority. In this Agreement, “Person”
means any individual or corporation, association, partnership, limited liability company, joint venture, joint stock or other company, business trust, trust, organization, or other entity of any kind. A “Third-Party Claim” means any
(i) claim brought by a Person other than a Loews Corporation, a Manager or any Indemnitee and (ii) any derivative claim brought in the name of a Loews Corporation that is initiated by a Person other than a Manager or any indemnified Person related
to a Manager. 
  
 5. Disclaimer and Limitation of Liability;
Opportunities. 
  
 (a) Disclaimer;
Standard of Care. None of the Managers makes any representations or warranties, express or implied, in respect of the services to be provided by any Manager hereunder. In no event shall any of the Managers be liable to the Loews Corporations or
any of their affiliates for any act, alleged act, omission or alleged omission that does not constitute gross negligence or willful misconduct of such Manager as determined by a final, non-appealable determination of a court of competent
jurisdiction. 
  
 (b) Freedom to Pursue
Opportunities. In recognition that each Manager and its respective Indemnitees currently have, and will in the future have or will consider acquiring, investments in numerous companies with respect to which each Manager or its respective
Indemnitees may serve as an advisor, a director or in some other 

  

 -6- 

 
capacity, and in recognition that each Manager and its respective Indemnitees have myriad duties to various investors and partners, and in anticipation that
the Loews Corporations, on the one hand, and each of the Managers (or one or more affiliates, associated investment funds or portfolio companies), on the other hand, may engage in the same or similar activities or lines of business and have an
interest in the same areas of corporate opportunities, and in recognition of the benefits to be derived by the Loews Corporations hereunder and in recognition of the difficulties which may confront any advisor who desires and endeavors fully to
satisfy such advisor’s duties in determining the full scope of such duties in any particular situation, the provisions of this Section 5(b) are set forth to regulate, define and guide the conduct of certain affairs of the Loews Corporations as
they may involve such Manager and its Indemnitees. Except as a Manager may otherwise agree in writing after the date hereof: 
  
 (i) Such Manager and its respective Indemnitees shall have the right: (A) to directly or indirectly engage in any business (including,
without limitation, any business activities or lines of business that are the same as or similar to those pursued by, or competitive with, the Company and its subsidiaries), (B) to directly or indirectly do business with any client or customer of
the Company and its subsidiaries, (C) to take any other action that such Manager believes in good faith is necessary to or appropriate to fulfill its obligations as described in the first sentence of this Section 5(b), and (D) not to present
potential transactions, matters or business opportunities to the Loews Corporations or any of their subsidiaries, and to pursue, directly or indirectly, any such opportunity for itself, and to direct any such opportunity to another person.

  
 (ii) Such Manager and its respective
Indemnitees shall have no duty (contractual or otherwise) to communicate or present any corporate opportunities to the Loews Corporations or any of their affiliates or to refrain from any actions specified in Section 5(b)(i), and the Loews
Corporations, on their own behalf and on behalf of their affiliates, hereby renounce and waive any right to require such Manager or any of its Indemnitees to act in a manner inconsistent with the provisions of this Section 5(b). 
  
 (iii) Neither such Manager nor any of its Indemnitees shall
be liable to the Loews Corporations or any of their affiliates for breach of any duty (contractual or otherwise) by reason of any activities or omissions of the types referred to in this Section 5(b) or of any such person’s participation
therein. 
  
 (c) Limitation of
Liability. In no event will any of the Managers or any of their Indemnitees be liable to the Loews Corporations or any of their affiliates or either of the other Managers or their Indemnitees for any indirect, special, incidental or
consequential damages, including, without limitation, lost profits or savings, whether or not such damages are foreseeable, or for any third party claims (whether based in contract, tort or otherwise), relating to the services to be provided by the
Managers hereunder. 
  

 -7- 

 6. Assignment, etc. Except as provided below, none of the parties hereto shall have the right to
assign this Agreement without the prior written consent of each of the other parties. Notwithstanding the foregoing, (a) any Manager may assign all or part of its rights and obligations hereunder to any of its respective affiliates which provides
services similar to those called for by this Agreement, in which event such Manager shall be released of all or a part of its rights to fees under Section 2 and reimbursement of expenses under Section 4(a) and all or a part of its obligations
hereunder and (b) the provisions hereof for the benefit of Indemnitees of the Managers shall inure to the benefit of such Indemnitees and their successors and assigns. 
  
 7. Amendments and Waivers. No amendment or waiver of any term, provision or condition of this Agreement shall be
effective, unless in writing and executed by the Requisite Manager Majority and the Loews Corporations; provided, that any amendment that would increase any fee pursuant to this Agreement shall require the written consent of each of the
Managers and the Loews Corporations and any amendment or waiver that discriminates against a Manager will require the consent of such Manager; and provided, further that any Manager may waive any portion of any fee to which it is entitled
pursuant to this Agreement, and, unless otherwise directed by such Manager, such waived portion shall revert to the Loews Corporations. No waiver on any one occasion shall extend to or effect or be construed as a waiver of any right or remedy on any
future occasion. No course of dealing of any person nor any delay or omission in exercising any right or remedy shall constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto. 
  
 8. Governing Law; Jurisdiction. 
  
 (a) Governing Law. This Agreement and all claims
arising out of or based upon this Agreement or relating to the subject matter hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of New York without giving effect to any choice or conflict of laws
provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction. 
  
 (b) Consent to Jurisdiction. Each party to this Agreement, by its execution hereof, (i) hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the State of New York, County of New York for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or
based upon this Agreement or relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of its subsidiaries to assert, by way of motion, as a
defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that any such proceeding brought in one of the
above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (iii) hereby agrees not to commence or maintain any action, claim, cause of action or suit (in contract, tort
or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or thereof other than before one of the above-named courts nor to make any motion or take any other action
seeking or intending to cause the transfer or removal of any such action, claim, 

  

 -8- 

 
cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation to any court other than one of the above-named courts whether
on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this agreement,
the court in which such litigation is being heard shall be deemed to be included in clause (i) above. Notwithstanding the foregoing, any party to this Agreement may commence and maintain an action to enforce a judgment of any of the above-named
courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by New York law, and agrees that service of process by registered or certified mail, return receipt
requested, at its address specified pursuant to Section 10 hereof is reasonably calculated to give actual notice. 
  
 (c) WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES
AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR
INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY
HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 8(c) CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION 8(c) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
  
 (d) Exercise of Rights and Remedies. No delay of or omission in the exercise of any right, power or remedy accruing to any party as
a result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default
occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver. 
  
 9. Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the
subject matter hereof and supersedes any and all prior discussions, negotiations, proposals, undertakings, understandings and agreements, whether written or oral, with respect thereto. 
  

 -9- 

 10. Notice. All notices, requests, demands, claims and other communications required or permitted
to be delivered, given or otherwise provided under this Agreement must be in writing and must be delivered, given or otherwise provided: 
  
 (a) by hand (in which case, it will be effective upon delivery); 
  
 (b) by facsimile (in which case, it will be effective upon receipt of confirmation of good transmission); or

  
 (c) by overnight delivery by a nationally
recognized courier service (in which case, it will be effective on the Business Day after being deposited with such courier service); 
  
 in each case, to the address (or facsimile number) listed below: 
  
 If to a Loews Corporation, to it: 
  
 Loews Cineplex Entertainment Corporation 
 711 Fifth Avenue 
 New York, NY 10022 
 Attention: Corporate General Counsel 
  
 with a copy to: 
  
 Ropes & Gray LLP 
 One International Place 
 Boston, Massachusetts 02110 
 Facsimile: (617) 951-7050 
 Attention: R. Newcomb Stillwell 
  
 If to Bain, to it: 
  
 c/o Bain Capital,
LLC 
 111 Huntington Avenue 
 Boston, MA 02199 
 Facsimile: (617) 
 Attention: John Connaughton 
  
 with a copy to: 
  
 Ropes & Gray LLP 
 One International Place 
 Boston, Massachusetts 02210 
 Facsimile: (617) 951-7050 
 Attention: R. Newcomb Stillwell 
  

 -10- 

 If to Carlyle, to it: 
  
 TC Group Investment Holdings, L.P. 
 c/o The Carlyle Group 
 520 Madison Avenue, 41st Floor 
 New York, New York 10022 
 Facsimile: (212) 381-4901 
 Attention: Michael Connelly 
                  Eliot Merrill 
  
 with a copy to: 
  
 Latham & Watkins LLP 
 885 Third Avenue 
 New York, NY 10022 
 Facsimile: (212) 751-4864 
 Attention: R. Ronald Hopkinson 
  
 If to Spectrum, to: 
  
 Applegate and Collatos, Inc. 
 c/o Spectrum Equity Investors 
 333 Middle Field Road, Suite 200 
 Menlo Park, California 94025 
 Facsimile: (415) 464-4601 
 Attention: Brion Applegate 
                  Benjamin Coughlin 
  
 with a copy to: 
  
 Latham & Watkins LLP 
 505 Montgomery Street, Suite 1900 
 San Francisco, CA 94111 
 Facsimile: (415) 395-8095 
 Attention: Scott R. Haber 
                  Tad J. Freese 
  
 Each of the parties to this Agreement may specify different address or facsimile number by giving notice in accordance with this Section 10 to each of the
other parties hereto. 
  
 11. Severability. If in any
proceedings a court shall refuse to enforce any provision of this Agreement, then such unenforceable provision shall be deemed eliminated from this Agreement for the purpose of such proceedings to the extent necessary to permit the remaining
provisions to be enforced. To the full extent, however, that the provisions of any applicable law may be waived, they are hereby waived to the end that this Agreement be deemed to be valid and binding agreement enforceable in accordance with its
terms, and in the event that any provision hereof shall be found to be invalid or unenforceable, such provision shall be construed by 

  

 -11- 

 
limiting it so as to be valid and enforceable to the maximum extent consistent with and possible under applicable law. 
  
 12. Counterparts. This Agreement may be executed in any number of
counterparts and by each of the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 -12- 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf as
an instrument under seal as of the date first above written by its officer or representative thereunto duly authorized. 
  

							
	 HOLDINGS:
	 	 	 	LCE HOLDINGS, INC.
			
	  	 	 	 	  
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
			
	 INTERMEDIATE:
	 	 	 	LCE INTERMEDIATE HOLDINGS, INC.
			
	  	 	 	 	  
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
			
	 HOLDCO:
	 	 	 	LCE HOLDCO LLC
			
	  	 	 	 	  
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
			
	 ACQUISITION CO:
	 	 	 	LCE ACQUISITION CORPORATION
			
	  	 	 	 	  
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 

  
 Management Agreement 

									
	 BAIN:
	 	 	 	BAIN CAPITAL PARTNERS, LLC
			
	 	 	 	 	 BY: BAIN CAPITAL LLC, ITS SOLE
MEMBER

				
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	Managing Director

  

							
			
	 CARLYLE:
	 	 	 	TC GROUP, L.L.C.
			
	 	 	 	 	 BY: TCG HOLDINGS L.L.C., ITS MANAGING
MEMBER

			
	  	 	 	 	  
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
			
	 SPECTRUM:
	 	 	 	APPLEGATE AND COLLATOS, INC.
			
	  	 	 	 	  
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 

  
 Management Agreement 

 Schedule 1 to 
 Management Agreement 
  
 Wire
Transfer Instructions for 
 Bain Capital Partners, LLC 
  

			
	 Bank:
	  	 Citibank, NA-New York

	 ABA #:
	  	 021-000-089

	 For:
	  	 Brown Brothers Harriman-Boston

	 Acct #:
	  	 09250276

	 To Further Credit:
	  	 Bain Capital Partners, LLC

	 Acct #:
	  	 612541-3

  
 Wire Transfer Instructions for

 TC Group, L.L.C. 
  

			
	 Bank:
	  	 Wachovia Bank

	 ABA #:
	  	 054 001 220

	 Acct #:
	  	 20000-083-11032

	 Account Name:
	  	 TC Group, L.L.C.

	 Reference:
	  	 Loews

  
 Wire Transfer Instructions for

 Applegate and Collatos, Inc. 
  

			
	 Bank:
	  	 Cupertino National Bank

	 ABA #:
	  	 121-141-152

	 Acct #:
	  	 4204042

	 Account Name:
	  	 Applegate and Collatos, Inc.

	 Reference:
	  	 LoewsEmployment Agreement between Travis Reid and Loews Cineplex Entertainment Corp.

 Exhibit 10.7 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement, dated as of January 1, 2005 (as amended and otherwise modified, the “Agreement”), between Loews Cineplex
Entertainment Corporation, a Delaware corporation (the “Company”) and Travis Reid (the “Executive”). 
  
 RECITALS 
  
 WHEREAS, the operations of the Company and its Affiliates are a complex matter requiring direction and leadership in a variety of arenas, including
financial, strategic planning, regulatory, community relations and others; 
  
 WHEREAS, the Executive is possessed of certain experience and expertise that qualify him to provide the direction and leadership required by the Company and its Affiliates; and 
  
 WHEREAS, subject to the terms and conditions hereinafter set forth, the
Company therefore wishes to employ the Executive as its President and Chief Executive Officer and the Executive wishes to accept such employment. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual promises, terms, provisions and conditions set forth in this Agreement, the
parties hereby agree: 
  
 1. Employment. Subject to the
terms and conditions set forth in this Agreement, the Company hereby offers and the Executive hereby accepts employment. 
  
 2. Term. Subject to earlier termination as hereafter provided, this Agreement shall have an original term of three years commencing on the date
hereof and shall be automatically extended thereafter for successive terms of one year each, unless either party provides notice to the other at least three months prior to the expiration of the original or any extension term that the Agreement is
not to be extended. The term of this Agreement, as from time to time extended or renewed, is hereafter referred to as the “Term.” 
  
 3. Capacity and Performance. 
  
 (a) During the Term, the Executive shall serve the Company as its President and Chief Executive Officer with such customary
responsibilities, duties and authority as may from time to time be assigned to the Executive by the Board of Directors of the Company (the “Board”). In addition, and without further compensation, the Executive shall serve as a
member of the Board, and as a director and/or officer of one or more of the Company’s Affiliates if so elected or appointed from time to time. 
  
 (b) During the Term, the Executive shall be employed by the Company on a full-time basis and shall perform such customary duties and
responsibilities on behalf of the Company and its Affiliates as may be designated from time to time by the Board. 

 (c) During the Term, the Executive shall devote his full business time to the discharge
of his duties and responsibilities hereunder subject to reasonable absences in accordance with Company policy for vacation and illness. The Executive shall not engage in any other business activity during the Term, but shall be permitted to serve in
any industry, trade, professional or academic position during the Term that is consistent with his position with the Company provided that the Executive gives notice of such position to the Board. 
  
 4. Compensation and Benefits. As compensation for all services
performed by the Executive hereunder during the Term, the Executive will be entitled to the following: 
  
 (a) Base Salary. During the Term, the Company shall pay the Executive a base salary at the rate of Five Hundred Seventy-Five
Thousand Dollars ($575,000) per annum through December 31, 2004 and Six Hundred Thousand Dollars ($600,000) per annum thereafter, payable in accordance with the payroll practices of the Company for its executives (as such amount may be increased
from time to time, the “Base Salary”). The Board shall review the Base Salary not less frequently than annually for consideration of increase. 
  

(b) Annual Bonus. During the Term, with respect to each of the Company’s fiscal years that ends on or after December 31,
2005, the Executive will be eligible to receive a bonus (the “Annual Bonus”) of between 50% and 100% of his Base Salary with a target of 75% of the Base Salary (the “Target Bonus”) based on achieving certain
business goals and targets established by the Board not later than February 1st of each such fiscal year after
consultation with the Executive; provided that the Executive will not receive an Annual Bonus if the Company fails to achieve the business goals and targets corresponding to a 50% Annual Bonus. With respect to the fiscal year ending on
December 31, 2004, the Executive will be eligible to receive a bonus in accordance with the bonus program currently in place and the arrangements set forth in Section 3(c) of the employment agreement between the Executive and the Company dated March
1, 2002. All payments of Annual Bonus amounts shall be made in cash lump sum not later than ten days following approval by the Board of the audited financial statements of the Company (or its Affiliates, as appropriate) for the fiscal year to which
the bonus relates, subject to the right of the Executive to elect deferral of payment under an applicable deferred compensation plan if one is approved by the Board. 
  
 (c) Vacations. During the Term, the Executive shall be entitled to four (4) weeks of vacation per
year, to be taken at such times and intervals as shall be determined by the Executive, subject to the reasonable business needs of the Company. 
  
 (d) Other Benefits. During the Term and subject to any contribution therefor generally required of executives of the Company, the
Executive shall be entitled to participate in any and all employee benefit plans, policies and perquisites from time to time in effect for executives of the Company generally, except to the extent such plans are in a category of benefit otherwise
provided to the Executive (e.g., severance pay). Such participation shall be subject to the terms of the applicable plan documents and generally applicable Company policies. The Company may alter, modify, add to or delete its 

  

 -2- 

 
employee benefit plans, policies and perquisites at any time as it, in its sole judgment, determines to be appropriate. Notwithstanding the foregoing, the
Company shall continue during the Term the automobile policy for executives of the Company as in effect on the date hereof or shall provide to the Executive the cash equivalent of such benefit during the Term in the event that the policy is
terminated. 
  
 (e) Business Expenses. The
Company shall pay or reimburse the Executive for all reasonable, customary and necessary business expenses incurred or paid by the Executive in the performance of his duties and responsibilities hereunder in accordance with the Company’s
expense reimbursement policy. 
  
 (f)
Indemnification. The Company shall indemnify the Executive in connection with his relationship to the Company to the fullest extent permitted by applicable law, and shall maintain in effect for the benefit of the directors and executive
officers liability insurance at levels no less favorable than in effect on the date hereof (together, the “Indemnification Rights”). 
  
 5. Termination of Employment and Severance Benefits. Notwithstanding the provisions of Section 2 hereof, the Executive’s employment hereunder
shall terminate prior to the expiration of the Term under the following circumstances: 
  
 (a) Death. In the event of the Executive’s death during the Term, the Executive’s employment hereunder shall immediately
and automatically terminate. In such event, the Company shall pay and provide to the Executive’s designated beneficiary or, if no beneficiary has been designated by the Executive, to his estate, (i) the Base Salary earned but not paid through
the date of termination, (ii) any Annual Bonus compensation awarded but unpaid on the date of termination, (iii) any business expenses incurred by the Executive but un-reimbursed on the date of termination, (iv) any rights, payments and benefits due
under any compensation, employee benefit, or fringe benefit plan or program of the Company, and the Indemnification Rights, pursuant to their terms and (v) any rights with respect to equity investments or equity compensation rights with the Company,
pursuant to their terms and (vi) at the time it would otherwise be paid pursuant to Section 4(b), a proportionate amount (through the date of termination of employment in respect of the fiscal year during which employment shall have been terminated)
of any Annual Bonus earned by the Executive during the fiscal year during which employment shall have been terminated (collectively, the “Accrued Rights”). 
  
 (b) Disability.  
  
 (i) The Company may terminate the Executive’s employment hereunder, upon notice to the Executive, in
the event that the Executive becomes disabled during his employment hereunder through any illness, injury, accident or condition of either a physical or psychological nature and, as a result, is unable to perform substantially all of his duties and
responsibilities hereunder, with or without reasonable accommodation, for one hundred twenty (120) days during any period of one hundred eighty (180) consecutive calendar days. In the event of such termination, the 

  

 -3- 

 
Company shall have no further obligation to the Executive, other than for satisfaction of the Accrued Rights. 
  
 (ii) The Board may designate another employee to act in the
Executive’s place during any period of the Executive’s disability. Notwithstanding any such designation, the Executive shall continue to receive the Base Salary in accordance with Section 4(a) and benefits in accordance with Section 4(d),
to the extent permitted by the then-current terms of the applicable benefit plans, until the Executive becomes eligible for disability income benefits under the Company’s disability income plan or until the termination of the Executive’s
employment under this Section 5, whichever shall first occur. 
  
 (iii) While receiving disability income benefits under the Company’s disability income plan, the Executive shall not be entitled to receive any Base Salary under Section 4(a) hereof, but shall continue to
participate in Company benefit plans in accordance with Section 4(d) and the terms of such plans, until the termination of the Executive’s employment under this Section 5. 
  
 (c) By the Company for Cause. The Company may terminate the Executive’s employment hereunder for
Cause at any time upon written notice to the Executive setting forth in reasonable detail the nature of such Cause. A termination for Cause shall require a majority vote of the Board following the opportunity to cure the events alleged to constitute
Cause to the extent provided below in clauses (i) and (ii). The following shall constitute “Cause” for termination: 
  
 (i) the Executive’s willful failure to substantially perform his material duties set forth in this Agreement (other than any such
failure resulting from the Executive’s death or Disability) which is not remedied within 30 days after receipt of written notice from the Company specifying such failure; 
  
 (ii) the Executive’s willful failure to carry out, or comply with, in any material respect, any lawful
and reasonable directive of the Board that is consistent with the Executive’s position, which is not remedied within 30 days after receipt of written notice from the Company specifying such failure; 
  
 (iii) the Executive’s commission at any time of any act
or omission that (A) constitutes or (B) results in a conviction, plea of no contest or imposition of unadjudicated probation for, any felony or any other crime involving moral turpitude; or 
  
 (iv) the Executive’s commission at any time of any act
of fraud, embezzlement, material misappropriation, material breach of fiduciary duty against the Company (or any successor thereof). 
  
 Upon the termination of the Executive’s employment hereunder for Cause, the Company shall have no further obligation to the Executive, other than for
satisfaction of the Accrued Rights, with the exception of item (vi) thereof. 
  

 -4- 

 (d) By the Company Other than for Cause. The Company may terminate the
Executive’s employment hereunder other than for Cause at any time upon written notice to the Executive. For purposes hereof, the expiration of the Term following notice by the Company given in accordance with Section 2 hereof shall constitute a
termination by the Company other than for Cause. In the event of a termination other than for Cause, in addition to the Accrued Rights, then for each month until the conclusion of a period of eighteen (18) months following the date of termination of
employment, the Company shall: 
  
 (i) continue
to pay the Executive the Base Salary at the rate in effect on the date of termination; 
  
 (ii) pay the Executive an amount equal to 1/12th of the lesser of (A) the Executive’s Annual Bonus for the fiscal year preceding such termination or (B) the amount of the Target Bonus then in effect; and 
  
 (iii) subject to any employee contribution applicable to the
Executive on the date of termination, continue to contribute to the cost of the Executive’s participation in the Company’s group medical and dental insurance plans, provided that the Executive is entitled to continue such participation
under applicable law and plan terms and thereafter, the Executive shall be entitled to such rights as he may have under applicable law. 
  
 Any obligation of the Company to the Executive hereunder is conditioned, however, upon the Executive signing a release of claims in the standard form used
by the Company. Base Salary to which the Executive is entitled hereunder shall be payable in cash in accordance with the normal payroll practices of the Company. For the avoidance of doubt, the Executive shall not be required to seek other
employment or to reduce any severance benefit payable hereunder, and no such severance benefit shall be reduced on account of any compensation received by the Executive from other employment. 
  
 (e) By the Executive for Good Reason. The Executive
may terminate his employment hereunder for Good Reason, upon notice to the Company setting forth in reasonable detail the nature of such Good Reason. The following shall constitute Good Reason for termination by the Executive: 
  
 (i) failure of the Company to continue the Executive in the
position of President and Chief Executive Officer; 
  
 (ii) material diminution in the nature or scope of the Executive’s responsibilities, duties or authority, which is not remedied within 30 days after receipt of written notice from the Executive specifying such duties; 
  
 (iii) the requirement that the Executive perform duties that
are materially inconsistent with the Executive’s position as Chief Executive Officer, which is not remedied within 30 days after receipt of written notice from the Executive specifying such duties; 
  

 -5- 

 (iv) material and intentional failure of the Company to provide the Executive the Base
Salary and benefits in accordance with the terms of Section 4 hereof; or 
  
 (v) relocation of the Executive’s principal place of employment outside the New York City metropolitan area. 
  
 In the event of termination in accordance with this Section 5(e), then the Executive will be entitled to the Accrued Rights and to the same severance pay
and benefits he would have been entitled to receive had the Executive been terminated by the Company other than for Cause in accordance with Section 5(d) above; provided that the Executive satisfies all conditions to such entitlement as set forth
therein. 
  
 (f) By the Executive Other than
for Good Reason. The Executive may terminate his employment hereunder at any time for any reason other than Good Reason upon thirty (30) days’ written notice to the Company. In the event of termination by the Executive pursuant to this
Section 5(f), the Board may elect to waive the period of notice, or any portion thereof. The Company shall have no further obligation to the Executive, other than for any Accrued Rights due to him, with the exception of item (vi) thereof.

  
 (g) Special Rights upon certain Changes of
Control 
  
 (i) If a Change of Control that
is not a Tranche 2 or Tranche 3 Liquidity Vesting Event occurs (other than a Change of Control in connection with a reorganization of the Company or its Affiliates under chapter 11 of the U.S. Bankruptcy Code or any similar reorganization, workout
or series of transactions) and if prior to but in connection with such Change of Control or within the two year period following consummation of such Change of Control), the Company terminates the Executive’s employment other than for Cause, or
the Executive terminates his employment for Good Reason, then, in addition to the payments to or on behalf of the Executive under Section 5(d) or 5(e) hereof, and provided that the Executive signs a release of claims in the standard form used by the
Company, the Company shall pay the Executive a lump sum payment equal to either (at the Executive’s option, elected following determination of fair market value as provided below) an amount equal to: 
  
 (A) the maximum aggregate severance payable to the
Executive under Sections 5(d)(i) and 5(d)(ii); or 
  
 (B) the fair market value (net of exercise price) of all vested Options under the Option Agreement between the Executive, LCE Holdings, Inc. and LCE Intermediate Holdings, Inc., dated as of the date hereof (as amended from time to time, the
“Option Agreement”) assuming: (x) 50% of unvested Tranche 1 Options were vested and (y) the Change of Control were a Tranche 2 Liquidity Vesting Event and Tranche 3 Liquidity Vesting Event for purposes of valuing 100% of the Tranche
2 and Tranche 3 Options. For purposes hereof, fair market value shall be determined by (I) the Board, in good faith, or (II) if the Executive shall deliver a written notice objecting to such determination within five business days of such
determination, a mutually acceptable “bulge 

  

 -6- 

 
bracket” independent investment bank, the costs and expenses of which shall be shared equally by the Company and the Executive. 
  
 (ii) For purposes of this Section 5(g), Change of Control,
Option, Tranche 1, 2 and 3 Options, Tranche 2 Liquidity Vesting Event and Tranche 3 Liquidity Vesting Event shall have the meanings set forth in the Option Agreement. All payments to the Executive under this Section 5(g) shall be paid in a cash lump
sum within 30 days following the Executive’s election hereunder. 
  
 (h) Special Rights upon Certain Termination of Employment. If the Company terminates the Executive’s employment other than for Cause, or the Executive terminates his employment for Good Reason, in either
case in circumstances other than the circumstances in which Section 5(g) applies, then, in addition to the payments to or on behalf of the Executive under Section 5(d) or 5(e) hereof, and provided that the Executive signs a release of claims in the
standard form used by the Company, the Company shall provide to the Executive, within 30 days following the date of termination, with a lump sum cash payment equal to the sum of the fair market value (net of exercise price) of the shares subject to
the Tranche 2 and Tranche 3 Options under the Option Agreement multiplied by a percentage equal to (i) 20% per year times (ii) the number of completed years of employment following July 30, 2004; provided that such fair market value
shall be determined in accordance with the standards set forth in the Option Agreement; provided, further, that, upon payment of such lump sum payment, all of the Executive’s Options under the Option Agreement shall terminate,
except for any vested Tranche 1 Options. For example, if the Executive’s employment were terminated by the Company other than for Cause after 3 and a half years, the Executive would be eligible to receive a lump sum payment of the actual
net fair market value in respect of 60% of all of his Tranche 2 and Tranche 3 Options (i.e., the number of Options to which he would have been entitled if the fair market value of LCE Holdings, Inc. at the time of termination had reflected a 2.0x or
3.0x return to the shareholders of LCE Holdings, Inc. as of July 31, 2004). For purposes of this Section 5(h), the terms “Options”, “Tranche 2 Options” and “Tranche 3 Options” shall have the
meanings set forth in the Option Agreement. 
  
 (i) Post-Agreement Employment. In the event the Executive remains in the employ of the Company or any of its Affiliates following the end of the Term, then such employment shall be at will except as the parties may otherwise agree in
writing. 
  
 6. Effect of Termination. The provisions of
this Section 6 shall apply to termination of the Term pursuant to Section 2 or 5 or otherwise. 
  
 (a) Satisfaction by the Company of its obligations under the applicable termination provision of Section 5 shall constitute the entire
obligation of the Company to the Executive. 
  
 (b) Except for medical and dental plan coverage continued pursuant to Section 5(d) or 5(e) hereof, benefits shall be governed by the applicable benefit plans and applicable law based on the date of termination of the Executive’s
employment without regard to any 

  

 -7- 

 
continuation of Base Salary or other payment to the Executive following such date of termination. 
  
 (c) Provisions of this Agreement shall survive any
termination if so provided herein or if necessary or desirable to accomplish the purposes of other surviving provisions, including without limitation the obligations of the Executive under Sections 7 and 8 hereof. The obligation of the Company to
make payments to or on behalf of the Executive under Section 5(d) or 5(e) hereof is expressly conditioned upon the Executive’s not breaching Sections 7 or 8 hereof. The Executive recognizes that, except as expressly provided in Section 5(d) or
5(e), no compensation is earned after termination of employment. 
  
 7. Confidential Information. 
  
 (a) The Executive acknowledges that the Company and its Affiliates continually develop Confidential Information, that the Executive may develop Confidential Information for the Company or its Affiliates and that the Executive may learn of
Confidential Information during the course of employment. The Executive will comply with the lawful policies and procedures of the Company and its Affiliates made known to the Executive for protecting Confidential Information and shall not disclose
to any Person or use, other than as required by applicable law or government process or for the proper performance of his duties and responsibilities to the Company and its Affiliates, any Confidential Information obtained by the Executive incident
to his employment or other association with the Company or any of its Affiliates. The Executive understands that this restriction shall continue to apply after his employment terminates, regardless of the reason for such termination. 
  
 (b) All documents, records, tapes and other media of every
kind and description relating to the business, present or otherwise, of the Company or its Affiliates and any copies, in whole or in part, thereof (the “Documents”), whether or not prepared by the Executive, shall be the sole and
exclusive property of the Company and its Affiliates. The Executive shall safeguard all Documents and shall, other than as required by applicable law or government process, surrender to the Company at the time his employment terminates, or at such
earlier time or times as the Board or its designee may specify, all Documents then in the Executive’s possession or control. 
  
 8. Restricted Activities. The Executive agrees that some restrictions on his activities during and after his employment are necessary to protect
the goodwill, Confidential Information and other legitimate interests of the Company and its Affiliates: 
  
 (a) While the Executive is employed by the Company and for eighteen months after his employment terminates (in the aggregate, the
“Non-Competition Period”), the Executive shall not, directly or indirectly, whether as owner, partner, investor, consultant, agent, employee, co-venturer or otherwise (except for de minimis ownership interests in public companies),
compete with the Company Business within any geographic region in which the Company or its Affiliates then has operations or undertake any planning for any business competitive with the Company Business. Specifically, but without limiting the
foregoing, the Executive agrees not to engage in any manner in any activity that is directly 

  

 -8- 

 
or indirectly competitive or potentially competitive with the Company Business as conducted or under active consideration at the time of the termination of
the Executive’s employment. For purposes hereof, the “Company Business” shall mean the theatrical exhibition of motion pictures to the public. 
  
 (b) The Executive agrees that, during his employment with the Company, he will not undertake any outside
activity, whether or not competitive with the business of the Company or its Affiliates, that could reasonably give rise to a conflict of interest or otherwise interfere in a material way with his duties and obligations to the Company or any of its
Affiliates other than permitted activities as provided in Section 3(c) hereof. 
  
 (c) The Executive further agrees that while he is employed by the Company and during the Non-Competition Period, the Executive will not
hire or attempt to hire any employee of the Company or any of its Affiliates at the time of termination of his employment or at any time during the preceding 90 days, directly or indirectly solicit for hire any such employee on behalf of any Person,
encourage any such employee to terminate his or her relationship with the Company or any of its Affiliates, or solicit or encourage any vendor of the Company or any of its Affiliates to terminate or diminish its relationship with them. 

 
 9. Assignment of Rights to Intellectual Property. The Executive
shall promptly and fully disclose all Intellectual Property to the Company. The Executive hereby assigns and agrees to assign to the Company (or as otherwise directed by the Company) the Executive’s full right, title and interest in and to all
Intellectual Property. The Executive agrees to execute any and all applications for domestic and foreign patents, copyrights or other proprietary rights and to do such other acts (including, without limitation, the execution and delivery of
instruments of further assurance or confirmation) requested by the Company to assign the Intellectual Property to the Company and to permit the Company to enforce any patents, copyrights or other proprietary rights to the Intellectual Property. The
Executive will not charge the Company for time spent in complying with these obligations; provided, however, that the Company shall reimburse the Executive’s out-of-pocket expenses incurred in connection with complying with these obligations.
All copyrightable works that are Intellectual Property that the Executive creates shall be considered “work made for hire.” 
  
 10. Enforcement of Covenants. The Executive acknowledges that he has carefully read and considered all the terms and conditions of this Agreement,
including the restraints imposed upon him pursuant to Sections 7, 8 and 9 hereof. The Executive agrees that said restraints are necessary for the reasonable and proper protection of the Company and its Affiliates and that each and every one of the
restraints is reasonable in respect to subject matter, length of time and geographic area. The Executive further acknowledges that, were he to breach any of the covenants contained in Sections 7, 8 and 9 hereof, the damage to the Company would be
irreparable. The Executive therefore agrees that the Company, in addition to any other remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by the Executive of any of said
covenants, without having to post bond. The parties further agree that, in the event that any provision of Sections 7, 8 and 9 hereof shall be determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over
too great a time, too large a geographic area or too great a range of activities, such 

  

 -9- 

 
provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by law. 
  
 11. Dividends and Distributions. During the Term, if LCE Holdings,
Inc. or LCE Intermediate Holdings, Inc. shall pay a dividend or make any other distribution in respect of their respective shares that are then the subject of options under the Option Agreement (the “Option Shares”), the Company or
its Affiliates shall make such compensatory payments or other compensatory financial accommodations to the Executive determined by the Board that, in the good faith judgment of the Board, (a) are of substantially equivalent value to the amount that
would have been payable in respect of the Option Shares had they been outstanding at the time of such dividend or other distribution and (b) reflect whether such options are vested or unvested. 
  
 12. Prior and Conflicting Agreements. The Company acknowledges and
agrees to honor the following rights of the Executive and the obligations of the Company under the following agreements: (a) the Executive’s right to a retention bonus of $1 million within 30 days following December 31, 2004 as provided in the
letter agreement dated November 12, 2003 between the Executive and the Company and (b) the Executive’s right to an annual bonus and to parachute tax indemnity payments under Sections 3(c) and 6, respectively, of the employment agreement between
the Executive and the Company dated March 1, 2002. The Executive hereby represents and warrants that the execution of this Agreement and the performance of his obligations hereunder will not breach or be in conflict with any other agreement to which
the Executive is a party or is bound and that the Executive is not now subject to any covenants against competition or similar covenants or any court order or other legal obligation that would affect the performance of his obligations hereunder. The
Executive will not disclose to or use on behalf of the Company any proprietary information of a third party without such party’s consent. 
  
 13. Section 280G Indemnification. 
  
 (a) If it shall be determined that any amount, right or benefit paid, distributed or treated as paid or distributed by the Company or any
of its affiliates to or for the Executive’s benefit (whether paid or payable or distributed or distributable hereunder or otherwise, including, without limitation, in connection with a change of control (within the meaning of Section 280G of
the Code), but determined without regard to any additional payments required under this Section 13) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by
the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, collectively, the “Excise Tax”), and if immediately before the change in control the Company’s stock was readily
tradeable on an established securities market or otherwise within the meaning of Section 280G(b)(5)(A)(ii), then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after
payment by the Executive of all federal, state and local taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto)
and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments; provided, that to the extent any Gross-Up Payment would be considered “deferred
compensation” for purposes of Section 409A of the Code, the manner and time of payment, and the provisions of this Section 13,  

  

 -10- 

 
shall be adjusted to the extent necessary to comply with the requirements of Section 409A with respect to such payment so that the payment does not give rise
to the interest or additional tax amounts described at Section 409A(a)(1)(B) or Section 409A(b)(4) of the Code (the “Section 409A penalties”); and further provided, that if, notwithstanding the immediately preceding proviso, the
Gross-Up Payment cannot be made to conform to the requirements of Section 409A of the Code, the amount of the Gross-Up Payment shall be determined without regard to any gross-up for the Section 409A penalties. 
  
 (b) All determinations required to be made under this
Section 13 , including whether and when a Gross-Up Payment is required, the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by a nationally recognized accounting firm as shall be
designated jointly by the Executive and the Company (the “Accounting Firm”), which shall be permitted to designate an independent counsel to advise it for this purpose. The Accounting Firm shall provide detailed supporting
calculations both to the Company and the Executive within 15 business days of the receipt of notice from the Executive or the Company that there has been a Payment, or such earlier time as is requested by the Company. All fees and expenses of the
Accounting Firm and its legal counsel shall be paid by the Company. Any Gross-Up Payment, as determined pursuant to this Section 13, shall be paid by the Company to the Executive (or to the Internal Revenue Service on the Executive’s behalf)
within five days of the receipt of the Accounting Firm’s determination. All determinations made by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty regarding Section 4999 of the Code
hereunder, it is possible that the Internal Revenue Code may assert that an Excise Tax is due that was not included in the Accounting Firm’s calculation of the Gross-Up Payments (an “Underpayment”). In the event that the
Company exhausts its remedies pursuant to this Section 13 and the Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any additional Gross-Up
Payments that are due as a result thereof shall be promptly paid by the Company to the Executive (or to the Internal Revenue Service on the Executive’s behalf). 
  
 (c) The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if
successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after the Executive receives written notification of such claim and shall
apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which it gives such notice to the
Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that it desires to contest such claim, the
Executive shall: (i) give the Company all information reasonably requested by the Company relating to such claim; (ii) take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time,
including, without limitation, accepting legal representation with respect to such claim by an attorney selected by the Company and reasonably acceptable to the Executive and ceasing all efforts to contest such claim; (iii) cooperate with the
Company in good faith in order to effectively contest such claim; and (iv) permit the  

  

 -11- 

 
Company to participate in any proceeding relating to such claim; provided, however, that the Company shall bear and pay directly all reasonable costs and
expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest and penalties with
respect thereto) imposed as a result of such representation and payment of costs and expense. Without limiting the foregoing provisions of this Section 13, the Company shall control all proceedings taken in connection with such contest and, at its
sole option, may pursue or forego any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Executive to pay the tax claimed and sue
for a refund or contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the
Company shall determine and direct; provided, however, that if the Company directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis, and shall
indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to
such advance; and further provided that any extension of the statute of limitations relating to payment of taxes for the Executive’s taxable year with respect to which such contested amount is claimed to be due is limited solely to such
contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may be, any
other issue raised by the Internal Revenue Service or any other taxing authority. 
  
 (d) If, after the Executive’s receipt of an amount advanced by the Company pursuant to this Section 13, the Executive becomes
entitled to receive any refund with respect to such claim, the Executive shall promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the Executive’s
receipt of an amount advanced by the Company pursuant to this Section 13, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its
intent to contest such denial of refund prior to the expiration of 30 days after the Company’s receipt of notice of such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance
shall offset, to the extend thereof, the amount of Gross-Up Payment required to be paid. 
  
 (e) The provisions of this Section 13 shall survive the expiration of the Executive’s term of employment hereunder. 
  

 -12- 

 14. Definitions. Words or phrases which are initially capitalized or are within quotation marks
shall have the meanings provided in this Section and as provided elsewhere herein. For purposes of this Agreement, the following definitions apply: 
  
 (a) “Affiliates” means all persons and entities directly or indirectly controlling, controlled by or under common control
with the Company, where control may be by either management authority or equity interest. 
  
 (b) “Confidential Information” means any and all information of the Company and its Affiliates that is not generally
known by others with whom they compete or do business, or with whom any of them plans to compete or do business and any and all information of the Company which, if disclosed by the Company or its Affiliates, would assist in competition against them
including, without limitation, such information relating to (i) the development, research, testing, manufacturing, marketing and financial activities of the Company and its Affiliates, (ii) the costs, sources of supply, financial performance and
strategic plans of the Company and its Affiliates, (iii) the identity and characteristics of the customers of the Company and its Affiliates and (iv) the people and organizations with whom the Company and its Affiliates have business relationships
and those relationships. Confidential Information also includes any information that the Company or any of its Affiliates have received, or may receive hereafter, belonging to customers or others with any understanding, express or implied, that the
information would not be disclosed. 
  
 (c)
“Intellectual Property” means inventions, discoveries, developments, methods, processes, compositions, works, concepts and ideas (whether or not patentable or copyrightable or constituting trade secrets) conceived, made, created,
developed or reduced to practice by the Executive (whether alone or with others, whether or not during normal business hours or on or off Company premises) during the Executive’s employment, and during the period of three (3) months immediately
following termination of his/her employment, with the Company that relate to either the business or any prospective activity of the Company or any of its Affiliates or that make use of Confidential Information or any of the equipment or facilities
of the Company or any of its Affiliates. 
  
 (d)
“Person” means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust and any other entity or organization, other than the Company or any of its Affiliates. 
  
 15. Withholding. All payments made by the Company under this Agreement
shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law. 
  
 16. Assignment. Neither the Company nor the Executive may make any assignment of this Agreement or any interest herein, by operation of law or
otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement without the consent of the Executive in the event that the Company shall hereafter affect a
reorganization, consolidate with, or merge into, any Person or transfer all or substantially all of its properties or assets to any Person. This Agreement shall inure to the benefit of and be binding upon the Company and the Executive, their
respective successors, executors, administrators, heirs and permitted assigns. 
  
 17. Severability. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this 

  

 -13- 

 
Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall
not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 
  
 18. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either
party to require the performance of any term or obligation of this Agreement, or the waiver by either party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach. 
  
 19. Notices. Any and all notices,
requests, demands and other communications provided for by this Agreement shall be in writing and shall be effective when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, and addressed to the
Executive at his last known address on the books of the Company or, in the case of the Company, at its principal place of business, attention of the chief legal officer, or to such other address as either party may specify by notice to the other
actually received. 
  
 20. Entire Agreement. This Agreement
constitutes the entire agreement between the parties and supersedes all prior communications, agreements and understandings, written or oral, with respect to the terms and conditions of the Executive’s employment, except to the extent provided
in Section 12 hereof. 
  
 21. Amendment. This Agreement may
be amended or modified only by a written instrument signed by the Executive and by an expressly authorized representative of the Company. 
  
 22. Headings. The headings and captions in this Agreement are for convenience only and in no way define or describe the scope or content of any
provision of this Agreement. 
  
 23. Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. 
  
 24. Governing Law. This Agreement and all claims arising out of or based upon this Agreement or relating to the
subject matter hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of New York without giving effect to any choice or conflict of laws provision or rule that would cause the application of the
domestic substantive laws of any other jurisdiction. 
  
 25.
Consent to Jurisdiction. Each party to this Agreement, by its execution hereof, (a) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of New York, County of New York for the purpose
of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (b) hereby waives to the extent not prohibited
by applicable law, and agrees not to assert, and agrees not to allow any of its subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that any such proceeding brought 

  

 -14- 

 
in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (c)
hereby agrees not to commence or maintain any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or
thereof other than before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise),
inquiry, proceeding or investigation to any court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any
litigation in connection with which it may assert indemnification rights set forth in this agreement, the court in which such litigation is being heard shall be deemed to be included in clause (a) above. Notwithstanding the foregoing, any party to
this Agreement may commence and maintain an action to enforce a judgment of any of the above-named courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding in any manner permitted
by New York law, and agrees that service of process by registered or certified mail, return receipt requested, is reasonably calculated to give actual notice. 
  

26. WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS
THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION
ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO
ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 26 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR
A COPY OF THIS SECTION 26 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
  
 [Remainder of page intentionally left blank] 
  

 -15- 

 Employment Agreement 
  
 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Company, by its duly authorized
representative, and by the Executive, as of the date first above written. 
  

									
	 THE EXECUTIVE:
	 	 	 	 LOEWS CINEPLEX ENTERTAINMENT
 CORPORATION

				
	 	 	 	 	By:	 	 
	Travis Reid	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]