Document:

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                                                                  Exhibit 10.74

                                                                      12/12/01-2
                              ASSIGNMENT OF SHARES:
                       REGAL GREETINGS & GIFTS CORPORATION

              THIS AGREEMENT made as of the 14th day of December, 2001

BETWEEN:

              RGG ACQUISITION INC.

              (hereinafter called the "SHAREHOLDER")

                                                               OF THE FIRST PART

AND:

              THE BANK OF NOVA SCOTIA

              (hereinafter called the "LENDER")

                                                              OF THE SECOND PART

              WITNESSETH THAT in consideration of the premises and One Dollar
($1.00) of lawful money of Canada, and other good and valuable consideration,
and in consideration of the Lender advancing certain loans to the Borrower the
receipt and sufficiency of which is hereby acknowledged by the Borrower, the
parties hereto hereby agree as follows:

ARTICLE 1.00 - DEFINITIONS

1.1    For the purposes of this Agreement, the following words and expressions
shall have the meaning indicated:

       (a)    "BORROWER" means Regal Greetings & Gifts Corporation;

       (b)    "CORPORATION" means Regal Greetings & Gifts Corporation;

       (c)    "DEFAULT" means any failure to complete payment of the
              Indebtedness, as and when required by the terms of the Credit
              Agreement or this Agreement or failure to undertake and complete
              any of the Obligations, as and when required by the terms of the
              Credit Agreement or this Agreement;

       (d)    "GUARANTOR" means Primes de Luxe Inc. and MDC Regal Inc.;

       (e)    "INDEBTEDNESS" means the obligation of the Borrower pursuant to
              the Credit Agreement;

       (fF)   "CREDIT AGREEMENT" means the letter of commitment between the
              Borrower and the Lender, dated December 5, 2001, as it may be
              amended or restated from time to time;

       (g)    "PLEDGED SHARES" means all of the shares in the capital of the
              Corporation, now

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              owned  or hereafter acquired by the Shareholder;

       (h)    "TERMINATION" has the meaning set out in Article 4.00 of this
              Agreement.

ARTICLE 2.00 - SECURITY INTEREST

2.1    The Shareholder hereby mortgages, pledges, assigns, charges and grants a
security interest in the Pledged Shares to the Lender, as a general and
continuing security for the payment of the Indebtedness and the satisfaction of
all covenants and agreements of the Borrower, pursuant to the Credit Agreement,
and under the terms of this Agreement (collectively the "OBLIGATIONS").

2.2    For valuable consideration the Shareholder guarantees payment to the
Lender of the indebtedness of Borrower pursuant to the Credit Agreement. The
Shareholder agrees that all or any part of the indebtedness may be renewed or
extended and indulgences may be granted to Borrower, at any time, without
discharging the Shareholder's obligations under this Agreement. The Shareholder
agrees that this Guarantee is not released, discharged, waived or amended by any
amendment to, or restatement of, the Credit Agreement, including any increase in
the indebtedness of Borrower, or change in payment terms, interest rate, fees,
costs or penalties. The Shareholder also agrees that the Lender may modify the
Credit Agreement and the Shareholder's obligations under this Guarantee may
change as a result. None of these things will in any way affect the Lender's
rights or remedies pursuant to this Guarantee or the liability of the
Shareholder under this Guarantee, even if the risk to the Shareholder is
increased by any of these actions.

       This Guarantee will not be discharged or otherwise affected by any
change in the legal or business nature, capacity or status of Borrower or the
Shareholder. There are no representations, collateral agreements or conditions
with respect to this Guarantee affecting the Shareholder's liability under this
Guarantee. The liability of the Shareholder will not be limited or reduced as a
result of the termination, invalidity or unenforceability of any security or
right of the Lender against Borrower or any other person, including other
assignors, for any reason.

       This Guarantee is unconditional. The Shareholder's obligations are
independent of Borrower's obligations and the Lender may demand payment from the
Shareholder, and realize on the security constituted by this Agreement, even if
the Lender does not demand or proceed against Borrower, or any other assignor,
or any other party, perfect any security interest, proceed against any security
or pursue any other remedy. The Lender may release or add other assignors
without releasing the Shareholder. The Shareholder waives any right of
subrogation.

       The Shareholder will pay the indebtedness, to the extent guaranteed, to
the Lender on demand, provided that notwithstanding anything in this Agreement
or in the Credit Agreement to the contrary, the obligation of the Shareholder to
pay shall, at its sole option, be limited to permitting the Lender to exercise
its security interests in the Pledged Shares. For greater certainty, in no event
shall the Shareholder be obligated to pay cash to the Lender and its obligation
shall be limited solely to its interest in the Pledged Shares. The Lender may
demand payment of the entire indebtedness, or any part, without releasing the
Shareholder from its obligations under this Guarantee. Demand for payment will
be effective when written notice is delivered or mailed to the Shareholder.

2.3    The Shareholder shall deliver the original share certificates
representing the Pledged shares to the Lender and the Lender shall hold the
Pledged Shares upon the terms and conditions in this Agreement. Each of the
Shareholders shall deliver the respective original share certificates for
Pledged Shares, and shall, as and when further shares are acquired, whether
using the credit facility of the Lender, or otherwise, deliver such further
original share certificates to the Lender, from time to time, failure to do so
constituting default of the credit arrangements with the Lender.

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2.4    Upon delivery of such further original share certificates, the Lender is
appointed the attorney of the Shareholder, for the purposes of endorsing the
information as to the additional pledged shares on SCHEDULE "A" hereto, the
endorsement of the Lender, together with the delivery and holding of the
original share certificates, whether directly by the Lender or through trustee,
constituting evidence of the additional, specific, pledge of such shares.
Provided that it is acknowledged that the grant of security interest herein
shall include all interest of the Shareholder in and to shares of the
Corporation, whether the original share certificate is delivered or otherwise,
and whether the share certificate is identified and endorsed in SCHEDULE "A" or
otherwise.

2.5    The Shareholder shall also deliver to the Lender, upon the terms and
conditions in this Agreement, dated, signed resolutions and share transfer forms
in accordance with the provisions of the BUSINESS CORPORATIONS ACT (Ontario),
consenting to the transfer of shares to the Lender.

2.6    The Shareholder does hereby irrevocably appoint the Lender as its true
and lawful attorney for it and in its name, for all purposes of this Agreement.
This power of attorney is given pursuant to the POWERS OF ATTORNEY ACT
(Ontario).

ARTICLE 3.00 - ESCROW PROVISIONS

3.1    The Pledged Shares shall be held by the Lender as security until such
time as the Lender shall be required to release them at such time when the
Borrower shall have no further obligation to the Lender under the Credit
Agreement.

3.2    The Lender shall be required to release the Pledged Shares at such times
and in accordance with such terms and conditions, as are set out in Article 4.00
of this Agreement.

3.3    Until transferred to the name of the Lender, the Pledged Shares shall
remain registered in the name of the Shareholder and be held by the Lender as
provided for in this Agreement. The Shareholder shall be entitled to exercise
all voting rights attaching to the Pledged Shares with respect to any act or
course of action to be taken by the Corporation and to receive for its own
account any dividends to be paid thereon, provided that such, if taken, would
not result in the breach of any covenant, agreement, warranty, representation or
the non-fulfillment of any condition or covenant or the inaccuracy of any
statement of fact contained herein or in any agreement given pursuant to the
Credit Agreement.

ARTICLE 4.00 - TERMINATION

4.1           Upon the occurrence of an Event of Default, which the Lender does
not waive or the Borrower remedy as required and within the time periods
provided therefor, the Lender shall either:

       (a)    retain the Pledged Shares for its own use and to its own account
              and in connection therewith require the Shareholders to complete
              the transfer of the Pledged Shares in the books and records of the
              Corporation, provided that in the event of such retention, the
              provisions of section 4.2 hereunder shall be applicable, and
              provided further that the Pledged Shares so held shall be valued
              as at the date of the occurrence of an Event of Default by an
              independent business valuator mutually acceptable to the parties
              hereunder, in accordance with the usual business valuation
              procedures, and the amount so determined shall be deemed to be
              applied so as to reduce the indebtedness by that amount, provided
              that any dispute as to the amounts so determined shall be
              submitted to arbitration in accordance with the provisions of
              section 6.6 hereunder; or

       (b)    proceed to sell the Pledged Shares, in a commercially reasonable
              manner, and shall

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              so advise the Shareholders and require the Shareholders to
              properly deliver and transfer the Pledged Shares as required
              pursuant to the provisions of the purchase agreement pursuant to
              which such sale is completed, and in connection with such sale,
              the Shareholders shall be entitled to bid or submit a written
              offer, as appropriate, and if accepted by the Lender, the
              provisions of section 4.2(b) hereunder shall apply. In the event
              of a sale of the Pledged Shares, the Lender shall apply the
              proceeds as provided in the Credit Agreement.

4.2    (a)    In the event that the Lender determines to retain the Pledged
              Shares and in connection therewith to complete the transfer of the
              Pledged Shares on the books and records of the Corporation to its
              name, then the Shareholders shall have the right on fifteen (15)
              days' notice to redeem the Pledged Shares by providing to the
              Lender repayment in full of the Indebtedness then outstanding,
              together with interest due and accrued thereon.

       (b)    In the event of redemption pursuant to the provisions of the
              immediately preceding section, or the Lender completing any sale
              of the Pledged Shares to the Shareholders, then the Lender shall
              immediately upon payment as required, deliver over the Pledged
              Shares to the Shareholders free and clear of any encumbrances or
              liens and shall further provide to the Shareholders such
              discharges or assignments, as reasonably required, together with
              such releases as may be reasonably required in relation to the
              obligations of the Shareholders, and shall execute such further
              and other assurances as may be required to properly complete any
              necessary conveyance or re-conveyance to the Shareholders.

ARTICLE 5.00 - COVENANTS

5.1           The Shareholder covenants and agrees with the Lender as follows:

       (a)    that it is the beneficial owner of all the Pledged Shares and that
              it has good right and authority to assign, pledge, hypothecate and
              charge the Pledged Shares to the Lender as herein provided, and
              that the Pledged Shares are free and clear of any other lien,
              mortgage, pledge, charge or encumbrance of any nature or kind
              whatsoever;

       (b)    on the date hereof, the Pledged Shares comprise one hundred
              percent (100%) of the voting shares of the Corporation;

       (c)    that all the Pledged Shares are outstanding as fully paid and
              non-assessable;

       (d)    that in the event the Lender shall have made demand for payment
              upon the Borrower in respect of an event of default in accordance
              with the obligations of the Borrower to the Lender pursuant to the
              provisions of the Credit Agreement or the security given pursuant
              thereto, or to have made demand on either the Borrower or the
              Guarantor and the Borrower or the Guarantor shall have failed to
              remedy the same as permitted pursuant to the said obligations (the
              "EVENT OF DEFAULT") the Lender shall be entitled to exercise all
              rights and powers and to perform all acts of ownership in respect
              of the Pledged Shares to the same extent as if it were the
              absolute owner thereof and without limiting the generality of the
              foregoing, the Lender shall be entitled from time to time to sell
              at public or private sale or otherwise realize upon all or any of
              the Pledged Shares for such price in money or other consideration
              and upon such terms and conditions as the Lender may deem best,
              the whole, without advertisement or notice to the Shareholders;

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       (e)    that the Lender may compound, compromise, grant extensions, take
              and give up securities, accept compositions, grant releases and
              discharges and otherwise deal with the Corporation and others as
              it sees fit, without prejudice to any of its rights hereunder, but
              without recourse in any way to the Shareholders;

       (f)    that the assignment, pledge, hypothecation and charge provided for
              herein is in addition to and not in substitution for any other
              security held by the Lender and shall not operate as a merger of
              any contract, debt, or suspend the fulfillment of or affect the
              rights, remedies or powers of the Lender or any securities held by
              the Lender for the fulfillment thereof; and

       (g)    that the Lender is hereby absolutely released from all
              responsibility for any depreciation in or loss of value of the
              Pledged Shares.

ARTICLE 6.00 - GENERAL

6.1    The security is in addition to and not in substitution for any other
security now or hereafter held by the Lender in relation to the Indebtedness.

6.2    The Pledged Shares shall not operate by way of merger of the Indebtedness
or any indebtedness or liability of any other person or persons to the Lender
and no judgment recovered by the Lender shall operate by way of merger of or in
any way affect the security of the Pledged Shares which is in addition to and
not in substitution for any other security now or hereafter held by the Lender.

6.3    This Agreement shall be construed and enforced in accordance with the
laws in effect in the Province of Ontario. The parties hereto submit to the
jurisdiction of the courts in the Province of Ontario and agree to appear in
such courts in respect of any matter which may be raised in relation to the
interpretation or enforcement of the provisions of this Agreement and agree to
be bound by the decision thereof.

6.4    Any demand or notice to be given by any party hereto to any other party
shall be in writing and may be given by personal delivery or except during any
period when postal service is interrupted, by prepaid registered mail or by
telex, telecopy or by other means of instantaneous transmission that produces a
permanent copy ("OTHER COMMUNICATION") addressed as follows:

       (a)  to the Borrower at:               7035 Ordan Drive
                                              Mississauga, Ontario, L5T 1T1

       (b)  to the Primes de Luxe Inc. at:

       (c)  to the Lender at:                 The Bank of Nova Scotia
                                              Scotia Plaza, 40 King Street West
                                              Toronto, Ontario, M5H 1H1

and if given by registered mail shall be deemed to have been received by the
party to whom it was addressed on the date falling four business days following
the date upon which it has been deposited in the post office with postage and
cost of registration prepaid and if personally delivered to an adult during
normal business hours, when so delivered and if given by other communication the
third business hour after transmission and confirmation of receipt. Provided
that any of the above-named parties may change the address designated from time
to time, by notice in writing to

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the other party hereto.

6.6    If any dispute occurs among the parties hereto with respect to any matter
which cannot be resolved by the provisions hereof or by agreement of the
parties, the matter in dispute shall be resolved by arbitration. Any party to
the dispute may at any time require arbitration by giving written notice thereof
to the other parties hereto setting out in reasonable detail the issue in
dispute. The dispute shall be determined by a single arbitrator. If the parties
can agree upon an arbitrator within ten (10) days from the receipt of a notice
then such party shall act as arbitrator, failing which an arbitrator shall be
appointed by a judge of the Ontario Court (General Division) upon the
application of any of the parties and the said judge shall appoint such
arbitrator as he so desires. The arbitration shall proceed in accordance with
the provisions of the ARBITRATIONS ACT (Ontario). The decision arrived at by the
arbitrator shall be final and binding and no appeal shall lie therefrom.

6.7    This Agreement shall be binding upon and enure to the benefit of and be
enforceable by the parties hereto and their respective, executors,
administrators, successors and assigns and shall be read with such changes of
gender and number required by the context.

6.8    This Agreement shall be subject to compliance with those provisions of
the PERSONAL PROPERTY SECURITY Act (Ontario) which can not be waived, altered or
superseded by agreement.

       IN WITNESS WHEREOF the parties hereto have executed this Agreement as of
the date, month and year first above-written.

RGG ACQUISITION INC.                                  THE BANK OF NOVA SCOTIA

Per:                                                Per:
--------------------------------                    ---------------------
      [Authorized Signing Officer]                  [Authorized Signing Officer]

Per:                                                Per:
--------------------------------                    ---------------------
      [Authorized Signing Officer]                  [Authorized Signing Officer]<Page>

                                                                   Exhibit 10.75

                         Hearst-Argyle Television, Inc.
                               888 Seventh Avenue
                            New York, New York 10106

Dreamlife
888 7th Avenue
13th Floor
New York, New York
10106

      Re: 888 Seventh Avenue
          New York, New York 10106 ("The Building")
          -----------------------------------------

Ladies and Gentleman:

         This letter agreement (this "Agreement") will set forth our agreement
with respect to the granting by Hearst-Argyle Television, Inc., a Delaware
corporation ("Licensor") to ("Dreamlife"), a Delaware Corporation ("Licensee")
of a license to enter into and use a portion of the thirteenth (13th) floor of
the referenced Building on a non-exclusive basis and on the following terms and
conditions (the "License"):

         1.       LICENSED AREA: The License is granted with respect to that
                  portion of the Building depicted on EXHIBIT A attached hereto
                  (the "Licensed Area").

         2.       TERM OF LICENSE: The term (the "Term") of the License will
                  commence on the date (the "Commencement Date") of receipt of
                  approval of this Agreement by 888 Seventh Avenue LLC, as
                  landlord ("Landlord") under that certain lease dated February
                  18, 1998 between Paramount Group, Inc., as Agent for 888 7th
                  Avenue Associates Limited Partnership ("Original Landlord")
                  and Licensor, as amended by that certain First Amendment of
                  Lease dated September 15, 1999 between 888 7th Avenue LLC
                  (successor-in-interest to Original Landlord) and Licensor (the
                  "Lease") pursuant to which Licensor demises space in the
                  Building and, except as otherwise provided herein (including,
                  without limitation, as provided in Paragraph 4 of this
                  Agreement), will terminate on the date (the "Expiration Date")
                  that is the day immediately proceeding the one (1) year
                  anniversary of the Commencement Date or such earlier date on
                  which the term of the Lease shall expire or be terminated.

         3.       EXTENSION OPTION: Licensee shall have the right, at its sole
                  and exclusive option and without obligation, provided Licensee
                  is in compliance with the terms of this Agreement, and upon
                  notice to Licensor given at least ninety (90) days prior to
                  the Expiration Date and provided Landlord shall consent
                  thereto, to extend the Term for successive periods of one (1)
                  year each (each, an "Extension Term"), the first such period
                  commencing on the date immediately succeeding the Expiration
                  Date and expiring on the first (1st) anniversary of the
                  Expiration Date, unless such Extension Term shall sooner end
                  pursuant to any of the terms, covenants or conditions of this
                  License (including, without limitation, as provided in
                  Paragraph 4 of this Agreement) or pursuant to law and, if such
                  option is exercised and Landlord consents thereto prior to the
                  then Expiration Date, the Term shall be extended without
                  execution or delivery of any other or further documents, with
                  the same force and effect as if the applicable Extension Term
                  had originally been included in the Term and the Expiration
                  Date shall thereupon be deemed to be the last day of such
                  Extension Term.

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         4.       CANCELLATION OPTION: Either Licensor or Licensee may elect to
                  terminate this Agreement effective at the end of any calendar
                  month upon the giving of not less than 30 days' prior written
                  notice to the other party. Upon the giving of such notice, the
                  License (unless the same shall have expired sooner pursuant to
                  any of the other provisions of the License or pursuant to law)
                  shall terminate on the "Termination Date" set forth therein
                  with the same effect as if the Termination Date were the
                  Expiration Date and Licensee shall terminate its occupancy of
                  the Licensed Area in accordance with the terms and conditions
                  of the License, including, but not limited to, Section 13
                  hereof, not later than the Termination Date.

         5.       LICENSE FEE: Licensee shall pay to Licensor at its address set
                  forth above (or such other address as licensor may designate)
                  a fee of $10,000 on the first day of each month during the
                  Term (the "License Fee") without demand or notice or any
                  set-off, offset or deduction. The License Fee includes payment
                  for (i) elevator, heat, ventilation, air-conditioning,
                  electricity, water and basic cleaning services as, if and when
                  provided to Licensor under the lease with respect to the
                  Licensed Area and (ii) basic local telephone service
                  (excluding toll charges or any other fees above the basic
                  service charge as determined by Licensor's telephone service
                  provider). At Licensee's request, Licensor shall request that
                  Landlord provide additional elevator, heat, air conditioning
                  and/or cleaning services in accordance with the terms of the
                  Lease and all charges for such additional services with
                  respect to the Licensed Area shall be paid by Licensee to
                  Licensor upon demand therefor, provided that Licensor shall
                  have no liability with respect to, and the terms of this
                  Agreement and the License shall not be affected by, any
                  failure by the landlord to provide such additional services.
                  Any costs or fees payable by Licensee hereunder in excess of
                  the License Fee shall be paid to Licensor promptly upon
                  demand therefore.

         6.       PERMITTED USE; NO ASSIGNMENT OR OTHER TRANSFER: Licensee may
                  use the Licensed Area for general office purposes in
                  accordance with the provisions of the Lease and for no other
                  purpose. Licensee shall not permit any other person or entity
                  not employed by Licensee to use or occupy the Licensed Area,
                  and Licensee shall not assign or otherwise transfer this
                  Agreement or the License granted hereby to any other person or
                  entity.

         7.       SUBORDINATION TO THE LEASE: COMPLIANCE WITH LAW: This
                  Agreement shall be in all respects subject and subordinate to
                  the terms of the Lease and all matters to which the Lease is
                  subject and subordinate. Licensor represents that a true and
                  complete copy of the lease (with certain economic provisions
                  which are not applicable to this Agreement and the License
                  deleted therefrom) is annexed hereto as EXHIBIT B. Licensee
                  hereby acknowledges that it has read and is familiar with the
                  terms of the Lease as set forth in EXHIBIT B.

         8.       COVENANTS REGARDING THE LEASE: Licensee shall not do, permit
                  or omit to do anything that would cause or constitute a
                  default under the Lease. Each party shall promptly deliver to
                  the other party copies of all notices, requests or demands
                  which relate to the Licensed Area or the use or occupancy
                  thereof after receipt of same from Landlord or any other
                  person or entity.

         9.       SERVICES AND REPAIRS: Licensor shall not be required to
                  provide any of the services or make any of the repairs that
                  Landlord has agreed to provide pursuant to the Lease (or is
                  required by law to provide), including, without limitation,
                  the provision of electricity to the Licensed Area that
                  Landlord has agreed to furnish pursuant to the Lease or take
                  any other action that Landlord is required by law or has
                  agreed to provide, furnish, make, comply with, or take, or
                  cause to be provided, furnished, made, complied with or,
                  taken under the Lease, but at Licensee's request and cost,
                  Licensor agrees to use commercially reasonable efforts to
                  obtain the same from Landlord (provided, however, that
                  Licensor shall not be obligated to use such efforts or take
                  any action which might give rise to a default under the
                  Lease).

                                        2
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         10.      CONDITION OF THE LICENSED AREA: Licensee has inspected and is
                  familiar with the Licensed Area and agrees to accept the
                  Licensed Area in its "as is" condition. Licensor makes no
                  representations or warranties with respect to the condition of
                  the Licensed Area and shall have no obligation to perform any
                  work or otherwise prepare the Licensed Area for Licensee's use
                  and occupancy. Licensee shall make no alterations or
                  improvements to the Licensed Area without Licensor's prior
                  written consent and, if any such alterations or improvements
                  are approved by Licensor, same shall be made only in strict
                  accordance with the terms of the Lease. At the end of the
                  Term, any such alterations shall, at the option of Licensor,
                  either be (a) removed by Licensee in accordance with Paragraph
                  13 hereof or (b) become the property of Licensor and be
                  surrendered with the Licensed Area. Licensee shall maintain
                  and take good care of the Licensed Area and shall make all
                  repairs and replacements thereto as and when needed to
                  preserve same in the condition on which same existed as of the
                  Commencement Date, normal wear and tear accepted, provided
                  that if the required repairs are structural in nature, affect
                  any Building system or affect any portion of the Building
                  outside of the Licensed Area, such repairs shall be made by
                  Licensor, or as applicable, Landlord, at Licensee's cost.
                  Licensee, at Licensee's sole cost and expense, shall comply
                  with all present and future laws, rules, orders, ordinances,
                  regulations, statutes, requirements, codes and executive
                  orders of all governmental authorities now or hereinafter
                  created, and of any applicable fire rating bureau or similar
                  body, applicable to the use and/or occupancy of the Licensed
                  Area. Licensee shall also comply with the rules and
                  regulations for the Building that Landlord may from time to
                  time adopt.

         11.      INSURANCE AND INDEMNITY; LIMITATION OF LIABILITY:

                           (a) Licensee shall obtain and keep in full force and
                  effect during the Term a policy of Commercial general public
                  liability and property damage insurance reasonably acceptable
                  to Licensor under which licensee is named as the insured, and
                  Licensor, Landlord and any other parties which Licensor has
                  provided notice are named as additional insureds.

                           (b) Licensee shall indemnify, defend, protect and
                  hold harmless each of Licensor, Landlord and any superior
                  lessors and mortgages of which Licensor has provided notice to
                  Licensee, and each of their respective direct and indirect
                  partners, officers, shareholders, directors, members,
                  trustees, beneficiaries, employees, principals, contractors,
                  invitees, servants, agents and representatives (collectively,
                  the "INDEMNITEES") from and against any and all losses,
                  liabilities, claims, judgments, damages, interest and expenses
                  of any kind or nature (including reasonable attorneys fees and
                  disbursements) to which any Indemnitee may (except insofar as
                  it arises out of the gross negligence or willful misconduct of
                  any such Indemnitee) be subject arising from or in connection
                  with the use by Licensee or any employee, agent, contractor,
                  officer, partner or invitee of Licensee of the Licensed Area
                  or the Building during the Term or arising from any default by
                  Licensee in the keeping observance or performance of any
                  provision contained in the License.

         12.      DEFAULT: In addition to any and all other rights or remedies
                  provided in License or which Licensor may have at law, in
                  equity, or otherwise, if Licensee shall fail to comply with
                  any of Licensee's obligations under the License and such
                  non-compliance continues for more than 10 days after notice by
                  Licensor to Licensee of such non-compliance, then the License
                  and this Agreement shall immediately terminate, and Licensee
                  shall immediately quit and surrender the Licensed Area as
                  required hereby.

                                       3
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         13.      END OF TERM: Upon the expiration or earlier termination of the
                  Term, Licensee shall, at Licensor's option pursuant to
                  Paragraph 10 hereof, remove all of licensee's alterations,
                  improvements, fixtures, equipment and personal property from
                  the Licensed Area and repair all damage caused by such
                  removal, and shall quit and surrender to Licensor the Licensed
                  Area vacant, broom-clean and in the order and condition
                  thereof as of the Commencement Date, ordinary wear and tear
                  accepted.

         14.      NO SUIT FOR DAMAGES; WAIVER OF JURY TRIAL; LIMITATION OF
                  LIABILITY:

                           (a) Licensee shall not seek to obtain any judgment
                  for damages (including, without limitation, consequential
                  damages) or indemnity against Licensor, or any of Licensor's
                  partners, shareholders, officers, directors, employees,
                  agents, trustees, beneficiaries and contractors, by reason of
                  a default by Licensor hereunder.

                           (b) LICENSOR AND LICENSEE HEREBY WAIVE TRIAL BY JURY
                  IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF
                  THE PARTIES HERETO AGAINST THE OTHER OR THEIR SUCCESSORS IN
                  RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH
                  THIS AGREEMENT OR THE LICENSE, THE RELATIONSHIP OF LICENSOR
                  AND LICENSEE, LICENSEE'S USE OR OCCUPANCY OF THE LICENSED
                  AREA, AND/OR ANY CLAIM FOR INJURY OR DAMAGE, OR ANY EMERGENCY
                  OR STATUTORY REMEDY. IN THE EVENT LICENSOR COMMENCES ANY
                  ACTION FOR NON-PAYMENT OF THE LICENSEE FEE, LICENSEE SHALL NOT
                  INTERPOSE ANY COUNTERCLAIM OF ANY NATURE OR DESCRIPTION
                  (UNLESS SUCH COUNTERCLAIM SHALL BE MANDATORY) IN ANY SUCH
                  PROCEEDING OR ACTION, BUT SHALL BE RELEGATED TO AN INDEPENDENT
                  ACTION AT LAW.

                           (c) Notwithstanding anything to the contrary
                  contained herein, neither Licensor nor Any general or limited
                  partner in or of Licensor, whether direct or indirect, nor any
                  direct or indirect partners in such partners, nor any
                  disclosed or undisclosed officers, shareholders, principals,
                  directors, employees, partners, servants or agents of Licensor
                  or any of the foregoing, nor any investment advisor or other
                  holder of any equity interest in Licensor, their successors,
                  assigns, agents, or any mortgages in possession shall have any
                  personal liability with respect to any provisions of this
                  Agreement or the License.

         15.      NOTICES: Any notice or other communication given by either
                  party to the other with respect to the License or this
                  Agreement shall be in writing and shall be deemed to have been
                  properly given if sent by personal delivery, or registered or
                  certified mail, return receipt requested, posted in a United
                  States post office station in the continental united States,
                  or by a nationally recognized overnight courier, in each case
                  addressed (i) to Licensee at its address first above written
                  Attention: Pat Pinto and (ii) to Licensor, at its address
                  first above written, Attention: Al Lustgarten or such other
                  address as either party may designate in writing. A copy of
                  each communication to Licensor shall also be sent to Clifford
                  Chance Rogers & Wells LLP, 200 Park Avenue, New York, New York
                  10166, Attention: David C. Djaha, Esq. All such communications
                  shall be deemed to have been given, rendered or made when
                  delivered on the date such communication is actually received
                  as evidenced by a written receipt therefor or refusal to
                  accept delivery, as of the date of such refusal, in the case
                  of personal delivery, or three (3) days after the day so
                  mailed, or one (1) business day after sent by nationally
                  recognized overnight courier.

                                       4
<Page>

         16.      BROKER: Each party hereto covenants, warrants and represents
                  to the other party that it has had no dealings, conversations
                  or negotiations with any broker concerning the execution and
                  delivery of this Agreement. Each party hereto agrees to
                  defend, indemnify and hold harmless the other party against
                  and from any claims for any brokerage commissions and all
                  costs, expenses and liabilities in connection therewith,
                  including, without limitation, reasonable attorneys' fees and
                  disbursements, arising out of a breach of its respective
                  representations and warranties contained in this paragraph
                  being untrue. The provisions of this Paragraph shall survive
                  the expiration or earlier termination of this Agreement.

         17.      CONSENT: Whenever the provisions of this Agreement require the
                  written consent of Licensor, such provisions shall, to the
                  extent Landlord's consent is required pursuant to the terms of
                  the License, be construed to require the written consent of
                  both Licensor and Landlord.

         18.      MISCELLANEOUS:

                           (a) A failure by either party in any instance to
                  insist upon the strict performance of any one or more of the
                  obligations of the other party under this Agreement, or to
                  exercise any election herein contained, shall in no manner be
                  or be deemed to be a waiver by Licensor or Licensee, as the
                  case may be, of any of such other party's defaults or breaches
                  hereunder or of any rights and remedies arising by reason of
                  such defaults or breaches, or a waiver or relinquishment for
                  the future requirement of strict performance of any and all of
                  such other party's obligations hereunder.

                           (b) This Agreement contains the entire agreement
                  between the parties and all prior negotiations and agreements
                  are merged in this Agreement. Any agreement hereafter made
                  shall be ineffective to change, modify or discharge this
                  Agreement in whole or in part unless such agreement is in
                  writing and signed by the parties hereto.

                           (c) Anything herein to the contrary notwithstanding
                  this Agreement and the License shall terminate immediately
                  upon Licensor's assignment or sublease of its rights under the
                  Lease.

                           (d) This Agreement is not to be construed as in any
                  way granting to Licensee any interest in the Licensed Area.
                  The License merely grants to Licensee a license to enter upon
                  and use the Licensed Area in accordance with the terms hereof
                  and shall not be deemed to grant to Licensee a leasehold or
                  other real property interest in the Licensed Area, it being
                  understood that this Agreement creates a License to use the
                  Licensed Area on an non-exclusive basis.

                           (e) In the event that any provision of this Agreement
                  shall be held to be invalid or unenforceable in any respect,
                  the validity, legality or enforceability of the remaining
                  provisions of this Agreement shall be unaffected thereby.

                           (f) Nothing contained in this Agreement shall be
                  construed to create priority of estate or contract between
                  Licensee and Landlord.

                           (g) Capitalized terms used herein shall have the same
                  meanings as are ascribed to them in the Lease, unless
                  otherwise expressly defined herein.

                           (h) This Agreement shall not be binding upon either
                  party unless and until both parties shall have executed and
                  delivered same.

                                       5
<Page>

                           (i) This Agreement and the License shall be governed
                  by, and construed in accordance with, the laws of the State of
                  New York.

                                        6
<Page>
                                            Very truly yours,

                                            Hearst-Argyle Television, Inc.

                                            By: /s/ Al Lustgarten
                                               ---------------------------------
                                            Name:  Al Lustgarten
                                            Title: Vice President, IT and
                                                   Administration

ACCEPTED AND AGREED
THIS 2nd DAY OF December

Dreamlife

By: /s/ Peter Lund
   -----------------------------
   Name:  Peter Lund
   Title: Chairman

                                        7
<Page>

                               [GRAPHIC OMITTED]

PHASE PHASE II

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