Document:

<PAGE>   1
                                                                   Exhibit 10.47
                              Publishing Agreement

                             SIMON & SCHUSTER, INC.
                           1230 Avenue of the Americas
                            New York, New York 10020
                                 (212) 698-7000

                                (the "Publisher")

                                       and

                            Stan Lee and George Mair

                   (Jointly and severally herein the "Author")

                     whose agent is Crawford Literary Agency
                                3920 Bayside Road
                            Fort Myers, Florida 33931

                                     Agree:

FIRST:  The Author

      A.    shall deliver to the Publisher one copy of the literary work now
      entitled STAN LEE: MASTER OF IMAGINATION (the "Literary Work") in Final
      Form on or before March 1, 2000. The complete manuscript of the Literary
      Work shall be approximately 75,000 words in length, shall include 25-50
      Illustrations (supplied by the Author in reproducible quality as part of
      the complete manuscript) and is described as follows: the life of Stan
      Lee, told in the first-person by Mr. Lee with third-party commentary about
      Mr. Lee's historical influence interspersed throughout;

      B.    makes the warranties and representations set forth in Part Two
      Paragraphs 36-45 of the Basic Agreement;

      C.    grants and assigns to the Publisher:

            (i)   all primary rights except calendar rights, audio rights and
                  video rights; and

            (ii)  the shares provided in THIRD: A of this Publishing Agreement
                  of the proceeds on disposition of the secondary rights; and
<PAGE>   2
      D.    grants the Publisher the first opportunity to consider Stan Lee's
      next (i.e., written after the Literary Work) full-length work of
      non-fiction for publication on mutually satisfactory terms. If, within 60
      days following submission of a detailed outline for such work to the
      Publisher, or within 30 days after delivery and acceptance of the complete
      manuscript for the Literary Work, whichever shall be later, Publisher and
      Mr. Lee are unable in good faith to agree upon terms for publication, Mr.
      Lee shall be free thereafter to submit such next work to other publishers
      and shall advise Publisher of the best offer thereafter made by any other
      publisher with respect to said next work, whereupon Publisher shall have
      the right to exercise its option with an advance equal to ten percent
      above the said best offer made by any other publisher. During the period
      of this option, Author shall not submit such next work to other
      publishers, nor seek offers from or negotiate with others with respect
      thereto.

SECOND: The Publisher

      A.    shall publish the Literary Work in book form within 18 months after
      acceptance of the manuscript therefore. The Publisher acknowledges,
      however, that it currently intends to publish the Literary Work in its
      Spring publishing season of 2001 and shall make reasonable efforts to
      adhere to such schedule;

      B.    shall pay the Author, as an advance against and on account of all
      monies accruing to Author under this Agreement, the sum of Thirty Thousand
      Dollars ($30,000), payable as follows:

            $15,000 on signing hereof; and

            $15,000 on delivery and acceptance of the complete manuscript, as
            satisfactory to the Publisher; and

            (i)   royalties at the following rates, based on the catalog retail
            price of every copy sold in the United States, less returns, for
            sales of the trade hardcover edition (if any), exclusive of sales
            specified in subparagraph (iv) below:

                  10% on the first 5,000 copies;
                  12-1/2% on the next 5,000 copies; and
                  15% on all copies sold thereafter;

            (ii)  royalties at the following rates, based on the catalog retail
            price of every copy sold in the United States, less returns, for
            sales of the trade paperback edition, exclusive of sales specified
            in subparagraph (iv) below:

                  7-1/2% on all copies sold;
<PAGE>   3

            (iii) 50% of the proceeds on disposition of the other primary
            rights, except as otherwise provided herein; and

            (iv)  in accordance with the provisions in Part Five of the Basic
            Agreement, for sales by mail order, at special discount, for export
            or outside the United States, as unbound sheets, from reduced
            printings, to book clubs, or as excess stock, or for any textbook,
            large print or hardcover reprint editions, on calendars and on
            electronic editions of the Literary Work published by the Publisher
            itself under one of its own imprints.

THIRD:  The Publisher and the Author

      A.    shall share the proceeds on disposition of the secondary rights,
      except as otherwise provided herein, as follows:

<TABLE>
<S>                                       <C>                  <C>
      Dramatic Rights                     100% to Author       0% to Publisher

      Motion Picture Rights               100% to Author       0% to Publisher

      Theme Park Rights                   100% to Author       0% to Publisher

      Radio Rights                        100% to Author       0% to Publisher

      Television Rights                   100% to Author       0% to Publisher

      *First Periodical Rights             90% to Author       10% to Publisher

      Commercial Rights                   100% to Author       0% to Publisher

      Foreign Language Rights             100% to Author       0% to Publisher

      British Commonwealth Rights         100% to Author       0% to Publisher
</TABLE>

      Publisher is authorized exclusively on behalf of the Author to dispose of
      such secondary rights as are preceded by an asterisk.

      B.    shall be bound by all of the terms and conditions of the Basic
      Agreement which follows and which is made an integral part of this
      Publishing Agreement; and

      C.    agree to the following special provisions, which shall prevail over
      any conflicting provisions in the Basic Agreement:
<PAGE>   4
            1. The Author shall purchase a minimum of 5,000 copies of a
      hardcover edition of the Work from Publisher, ordered in sufficient time
      for Publisher to add such quantity to its first print run. Publisher shall
      sell such copies to the Author at a discount of 70% off from the suggested
      catalog retail price, F.O.B. Publisher's warehouse plus applicable sales
      tax. Thereafter, the Author may, in its discretion but subject to
      Publisher's availability of stock, purchase additional hardcover and/or
      paperback copies of the Work from Publisher, subject to the Publisher's
      availability of stock thereof, at the following discounts: 1-99 copies per
      order, 40% off; 100-999 copies per order, 50% off; and 1,000 copies or
      more per order, 55% off, or at such other discount as the Author may agree
      upon with Publisher's Special Sales Department. Payment for all such
      purchases shall be made as follows:

            (a)   50% on or about the time of confirmation of the order, upon
            notice to the Author from Publisher that such payment is due; and

            (b)   the balance thirty days after delivery of the first shipment
            of books to the Author, provided the author supplies the Publisher
            with satisfactory references to establish credit to carry said
            balance. In the event the Author is unable to provide such
            satisfactory references, then said balance shall be paid in full
            prior to shipment of books to the Author.

            All copies purchased by the Author hereunder are non-returnable, and
      no royalty shall be paid to the Author on copies purchased at discounts of
      greater than 40% off. The Author shall have the right to resell such
      copies in the Author's discretion, but only outside of Publisher's normal
      trade retain and wholesale channels.

<TABLE>
<CAPTION>
AUTHOR                                         SIMON & SCHUSTER, INC.
<S>                                           <C>
/s/ Stan Lee  (L.S.)                           By /s/  N. GUMPERT
----------------------                            ------------------------------
Stan Lee                                             AUTHORIZED SIGNATURE

Soc. Sec. #:
             ------------------------
Citizenship:
             ------------------------

/s/ George Mair (L.S.)
----------------------
George Mair

Soc. Sec. #:
             ------------------------
Citizenship:
             ------------------------

Dated:  November 11, 1999
       ------------------------------
Walker

</TABLE>
<PAGE>   5

                                 BASIC AGREEMENT

          Relating to the Publishing Agreement dated November 11, 1999
                 Between Simon & Schuster, Inc., Publisher, and
                        Stan Lee and George Mair, Author,
              For the publication of the literary work now entitled
                         STAN LEE: MASTER OF IMAGINATION

                                Table of Contents
<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
PART ONE
     Definition of Terms                                                      6

PART TWO
     Author's Warranties                                                     11

PART THREE
     Extent of Grant                                                         12

PART FOUR
     Copyright                                                               15

PART FIVE
     Royalties and Other payments                                            15

PART SIX
     Delivery of Manuscript and Correction of Proofs                         18

PART SEVEN
     Delays in Publication                                                   20

PART EIGHT
     Disputes                                                                20

PART NINE
     Indemnification and Defense of Litigation                               21

PART TEN
     Infringement by Others                                                  22

PART ELEVEN
     Withdrawal from Publication                                             22

PART TWELVE
     Breach by Publisher                                                     22

PART THIRTEEN
     Miscellaneous Provisions                                                23

</TABLE>

<PAGE>   6

                                 Basic Agreement

                                    PART ONE

                               Definition of Terms

As Used in this Basic Agreement and in the Publishing Agreement:

Primary Rights

      1.    "Primary rights" shall mean all of the rights defined in Part One
Paragraphs 2 through 14 inclusive. The territory within which such rights are
exercisable is set forth in Part three Paragraph 46.

Trade Edition Rights, Trade Editions

      2.    "Trade edition rights" shall mean the exclusive right to publish, or
authorize others to publish, trade editions of the Literary Work referred to in
the Publishing Agreement. "Trade Editions: shall mean the first edition of the
Literary Work in hardcover book form, and all other editions in book form except
those referred to in the following paragraphs. The Publisher may publish a trade
paperback edition prior to or simultaneous with any hardcover edition, and may
refrain, in its discretion, from the publication of a hardcover edition (subject
only to the Publisher's obligations in THIRD: C.1 of the Publishing Agreement to
supply copies of a hardcover edition to the Author, on the terms thereof).

Book Club Rights

      3.    "Book club rights" shall mean the exclusive right to authorize book
clubs to print and sell the Literary Work in book form.

Mass Market and Trade Paperback Rights

      4.    (a) "Mass market paperback rights" shall mean the exclusive right,
after the publication of the first trade edition, to authorize others (not
including book clubs) to publish paperback editions of the Literary Work in
formats known in the publishing industry as designed primarily for mass market
distribution through such channels as chain store outlets and news and magazine
wholesalers.

            (b) "Trade paperback rights" shall mean the exclusive right to
publish, or authorize others to publish, paperback editions of the Literary Work
in formats known in the publishing industry as designed primarily for
distribution through book trade channels.

<PAGE>   7

Calendar Rights

      5.    "Calendar rights" shall mean the exclusive right to use, or to
authorize others to use, all or any portion of the Literary Work as the basis
for one or more calendars, which may include solely text and/or illustrations
from the Literary Work or which may combine text and/or illustrations from the
Literary Work with text and/or illustrations from other works. The calendar
rights are reserved by the Author.

Textbook Rights

      6.    "Textbook rights" shall mean the exclusive right to publish, or to
authorize others to publish, the Literary Work or any portion thereof in
textbook form for distribution to or use in educational or other similar
institutions.

Permissions

      7.    "Permissions" shall mean the exclusive right, after publication of
the trade edition, to reproduce, or to authorize others to reproduce, portions
of the Literary Work, including, without limitation, selections from, parts of,
and/or photographs, charts, maps, drawings, index, illustrations and other
illustrative or decorative material from the Literary Work, to the extent that
the Publisher deems appropriate. Publisher may authorize copyright and
permissions clearance organizations to act in full or in part on its behalf and
Publisher shall account to the Author for royalties received from such
organizations designated as arising from reproduction of the Literary Work.

Abridgment or Condensation Rights

      8.    "Abridgment or condensation rights" shall mean the exclusive right
to publish, or to authorize others to publish, either as part of a book (as
distinguished from a periodical), or as a separate book publication, an
abbreviated version of the Literary Work, not exceeding two-thirds of the
original version in length, all of which must be (i) in the original text, if it
is an abridgment, or (ii) approved in writing by the Author, if it is a
condensation.

Second Periodical Rights

      9.    "Second periodical rights" shall mean the exclusive right to publish
all or part of the Literary Work in a periodical (including a magazine or
newspaper), serially or in one issue, after publication of the trade edition of
the Literary Work.

Transcription Rights

      10.   "Transcription rights" shall mean the exclusive right to use the
Literary Work, or any portion thereof, as a basis for phonographic, tape, wire,
magnetic, electronic, light wave amplification, photographic, microfilm,
microfiche, slides, filmstrips, transparencies, programming for any method of
information storage, reproduction or retrieval, and for any other forms or means
of copying, recording, storage or retrieval (now known or hereafter devised) the

<PAGE>   8

text of the Literary Work, including recordings made for the blind, but
excluding any uses encompassed in the electronic rights.

Electronic Rights

      11.   "Electronic rights" shall mean the sole and exclusive right to use
or adapt, and to authorize others to use or adapt, the Literary Work or any
portion thereof, for one or more "electronic versions." As used herein, the term
"electronic versions" shall mean any and all methods of copying, recording,
storage, retrieval or transmissions of all or any portion of the Literary Work,
alone or in combination with other works or materials (including still
photographs and illustrations, video footage, sound and additional text),
including in any multimedia work or electronic book, by any electronic,
electromagnetic or other means now known or hereafter devised, including,
without limitation, by analog or digital signal, whether in sequential or
non-sequential order, on any and all physical media now known or hereafter
devised including, without limitation, magnetic tape, floppy disks, interactive
CD, CD-ROM, laser disk, optical disk, integrated circuit card or chip and any
other human or machine readable medium, whether or not permanently affixed in
such media, and the broadcast or transmission thereof by any means now known or
hereafter devised, but excluding audio recording rights, video recording rights
and all uses encompassed in the definitions of motion picture rights and
television rights (provided that the exercise of any of the foregoing rights, if
reserved herein by the Author or licensed to any third party, shall not preclude
the exercise of electronic rights.

Audio Rights

      12.   "Audio rights" shall mean the exclusive right to use or adapt, and
to authorize others to use or adapt, the Literary Work or any portion thereof as
the basis for one or more non-dramatic audio recordings. The audio rights are
reserved by the Author, but the Publisher will have the first exclusive
opportunity to acquire such rights on mutually satisfactory terms. If the Author
and Publisher are unable in good faith to agree on terms for the Publisher's
acquisition of such rights within 30 days after they commence negotiations
therefore (which negotiations will not begin until after delivery and acceptance
of the complete manuscript for the Literary Work), then the Author shall be free
thereafter to offer the audio rights to other publishers.

Video Rights

      13.   "Video rights" shall mean the exclusive right to use or adapt, and
to authorize others to use or adapt, the Literary Work or any portion thereof as
the basis for one or more non-dramatic video recordings. The video rights are
reserved by the Author.

Digest Rights

      14.   "Digest rights" shall mean the exclusive right to publish, or to
authorize others to publish, in any magazine - whether devoted exclusively to
abbreviated versions, or consisting primarily of other material - an abbreviated
version (abridged or condensed) of the Literary Work, which version shall be
complete in one issue and shall not exceed approximately 30,000 words or
one-half of the length of the Literary Work, whichever is less.

<PAGE>   9

Secondary Rights

      15.   "Secondary rights" shall mean all the rights defined in Part One
Paragraphs 16 through 23 inclusive. The territory within which such rights are
exercisable is set forth in Part Three Paragraph 47.

Dramatic Rights

      16.   "Dramatic rights" shall mean the exclusive right to use, or to
authorize others to use, the Literary Work, title, plot, episodes, events,
scenes and characters depicted therein, in whole or in part, for (i) writing a
dramatic version thereof, or a drama in any way based thereon and (ii) producing
or performing either of the above on the stage.

Motion Picture Rights

      17.   "Motion picture rights" shall mean the exclusive right to use, or to
authorize others to use, the Literary Work, title, plot, episodes, events,
scenes and characters depicted therein, in whole or in part, for the purpose of
making motion pictures primarily for exhibition in regular commercial channels,
and shall include the allied motion picture rights. "Allied motion picture
rights" shall mean (i) the exclusive right to condense, or to authorize others
to condense, the Literary Work, or the commercial motion picture treatment
thereof, into not more than 7,500 words, for the purpose of promoting motion
pictures based on the Literary Work, and (ii) such limited radio or television
rights as are customarily granted for the purpose of using those mediums to
promote motion pictures based on the Literary Work.

Theme Park Rights

      18.   "Theme part rights" shall mean the exclusive right to use all or any
portion of the Literary Work in and in connection with amusement/tour/theme
parks. Such rights shall include, without limitation, the right to (i) create,
present, stage and/or perform any attraction, presentation, show and/or ride
based upon and/or derived from the Literary Work; (ii) use "walk-around"
performances by actors recreating characters in the Literary Work; (iii) use the
Literary Work in and/or in connection with any such attraction, presentation,
show and/or ride; and (iv) use any of the foregoing to advertise, exploit and/or
promote any such amusement/tour/theme park.

Radio Rights

      19.   "Radio rights" shall mean the exclusive right to use, or to
authorize others to use, the Literary Work, title, plot, episodes, events,
scenes and characters depicted therein, in whole or in part, for AM, FM or other
broadcasting.

<PAGE>   10

Television Rights

      20.   "Television rights" shall mean the exclusive right to use, or to
authorize others to use, the Literary Work, title, plot, episodes, events,
scenes and characters depicted therein, in whole or in part, for broadcast
performances on television.

First Periodical Rights

      21.   "First periodical rights" shall mean the exclusive right to publish,
or authorize others to publish, all or part of the Literary Work in a periodical
(including a magazine or newspaper), serially or in one issue, before
publication of the trade edition of the Literary Work.

Commercial Rights

      22.   "Commercial rights" shall mean the exclusive right to use, or to
authorize others to use, in whole or in part, the Literary Work, the title of
the Literary Work, and the names and characterizations of characters created in
the Literary Work, as a basis for (i) trademarks or trade names for other
products, or (ii) toys or games.

Foreign Language Rights and British Commonwealth Rights

      23.   (a) "Foreign language rights" shall mean the exclusive right to
translate or to authorize others to translate the Literary Work in whole or in
part into one or more foreign languages, and to publish, or to authorize others
to publish, such translations in any part of the world.

            (b) "British Commonwealth rights" shall mean the exclusive right to
publish and to authorize others to publish the Literary Work in whole or in part
in the English language in the British Commonwealth as defined by Publisher at
the date of this agreement, excluding Canada and Israel.

            (c) Whichever party controls foreign language or British
Commonwealth rights in the Literary Work shall control all publishing rights
thereto as well as non-publishing primary rights. Non-publishing secondary
rights shall in all instances be controlled by the party who is otherwise
authorized to dispose of such rights pursuant to this agreement.

Author's Unshared Secondary Rights

      24.   "Author's unshared secondary rights" shall mean all secondary rights
as to which, under Part THIRD: A of the Publishing Agreement, the Author is to
retain all the proceeds from disposition.

<PAGE>   11

Shared Secondary Rights

      25.   "Shared secondary rights" shall mean all secondary rights as to
which, under Part THIRD: A of the Publishing Agreement, the Author and the
Publisher are to share the proceeds from disposition.

Sale, Disposition or Grant of Rights

      26.   A "sale," "disposition" or "grant" of rights shall include an
assignment, transfer, bargain or license of the rights referred to or of any
interest or option relating to such rights.

Proceeds on Disposition of Primary Rights

      27.   "Proceeds on disposition of the primary rights" shall mean the gross
amount received on the sale or disposition of such primary rights, less any
costs and expenses incurred by the Publisher in connection with or by reason of
such sale or disposition.

Proceeds on Disposition of Secondary Rights

      28.   "Proceeds on disposition of the secondary rights" shall mean the
gross amount received from the sale or disposition of such secondary rights,
less any third party commission which may be paid for services rendered in
connection with such disposition, either to the Author's agent designated in the
Publishing Agreement or to any agent authorized by the Publisher to dispose of
such secondary rights, and less any bank fees or other monetary transfer charges
incurred by the Publisher or Author in connection with or by reason of such sale
or disposition.

Final Form

      29.   "Final Form" shall mean a complete, legible, typewritten manuscript
of the Literary Work (including photographs, charts, maps, drawings or index, if
any of these are required), or, if Publisher requests, diskettes or other
electronic format specified by Publisher containing the Literary Work,
acceptable to the Publisher in content and form.

Agreed Publication Date

      30.   "Agreed publication date" shall mean the date on which the Publisher
has agreed in the Publishing Agreement to publish the Literary Work.

Actual Publication Date

      31.   "Actual publication date" shall mean the date of the first sale and
shipment of the Literary Work.

<PAGE>   12

Base Royalty Rate

      32.   "Base royalty rate" shall mean the royalty rates provided in Part
SECOND: B (i) and (ii) of the Publishing Agreement.

Mail Order Sales

      33.   "Mail order sales" shall mean sales of the Literary Work directly to
the consumer through mail order coupon advertising, direct-by-mail solicitation,
or other direct response sales employing the mails.

Special Discount Sales

      34.   "Special discount sales" shall mean sales made in the United States
outside regular trade channels at a discount of more than 50% from the catalog
retail price. Sales to book clubs shall not be included under special discount
sales.

Agreement

      35.   "Agreement" (or "this agreement") shall mean the Publishing
Agreement and this Basic Agreement.

                                    PART TWO

                               Author's Warranties

The Author warrants and represents that:

Sole Author and Proprietor

      36.   Author is the sole author and proprietor of the Literary Work.

Authority to Grant

      37.   Author has full power and authority to make this agreement and to
grant the rights granted hereunder, and Author has not previously assigned,
transferred or otherwise encumbered the same; and Author has no prior agreement,
commitment, or other arrangement, oral or written, to write or participate in
writing any other book-length work and will enter into no such agreement,
commitment, or other arrangement until after delivery of the manuscript of the
Literary Work in Final Form.

<PAGE>   13

Not Previously Published, Not in Public Domain

      38.   The Literary Work is wholly original, has not been previously
published, and is not in the public domain.

No Infringement

      39.   The Literary Work does not infringe any statutory or common law
copyright or any proprietary right of any third party.

Not Libelous

      40.   The Literary Work does not invade the right of privacy of any third
person, or contain any matter libelous or otherwise in contravention of the
rights of any third person, and, if the Literary Work is not a work of fiction,
all statements in the Literary Work asserted as facts are true or are based upon
reasonable research for accuracy.

Not Unlawful

      41.   (a) The Literary Work contains no matter which is obscene or matter
the publication or sale whereof otherwise violates any federal or state statute
or regulation, nor does Author's entering into this agreement violate any such
statute or regulation, nor is the Literary Work in any other manner unlawful.

Not Injurious

      41.   (b) Nothing contained in the Literary Work shall be injurious to the
health of the user.

Permissions

      41.   (c) If the Author incorporates in the Literary Work any writings,
drawings, photographs or other material either previously published or not,
either by the Author or another artist or writer, Author shall, prior to
delivery of the Literary Work in Final Form obtain and, whenever requested by
Publisher, deliver to the Publisher proper and complete written permission and
authorization from the owner of the common law or statutory copyright or other
right to use the same in the Literary Work and for the purpose of promoting or
advertising the Literary Work throughout the world.

Next Work

      42.   The Literary Work will be the Author's next book (whether under the
Author's own name or otherwise), that he or she will not undertake to write any
other work for publication in book form before delivery to the Publisher or the
manuscript of the Literary Work in Final Form, and that in no event will he or
she publish or authorize publication of any other book-

<PAGE>   14

length work of which he or she is an author or co-author until six months after
publication of the Literary Work.

Investigation by Publisher

      43.   The Publisher shall be under no obligation to make an independent
investigation to determine whether the foregoing warranties and representations
are true and correct; and any independent investigation by or for the Publisher,
or its failure to investigate, shall not constitute a defense to the Author in
any action based upon a breach of any of the foregoing warranties.

Effect of Warranties and Representations

      44.   The warranties and representations of Author hereunder are true on
the date of the execution of this agreement and shall be true on the date of the
actual publication of the Literary Work, and at all intervening times. The
Publisher may rely on the truth of the warranties and representations herein in
dealings with any third party in connection with the exercise or disposition of
any rights in the Literary Work.

Warranties to Survive Termination

      45.   Each of the foregoing warranties and representations shall survive
the termination of this agreement.

                                   PART THREE

                                 Extent of Grant

Territorial Extent of Primary Rights

      46.   Under the grant of primary rights, the Publisher and its grantees
shall have:

      (a) the exclusive right of publication in the English language and the
Spanish language in the United States, its territories and possessions (which
include but are not limited to all U.S. military installations), the Philippine
Republic and Canada, and the non-exclusive right of publication in the English
language throughout the rest of the world except within the British Commonwealth
(excluding Canada); and

      (b) the non-exclusive right to sell or authorize others to sell
Publisher's edition of the Literary Work in Australia if no other English
language edition is for sale in Australia within 30 days after first English
language publication in accordance with the provisions of the Australian
Copyright Amendment Act of 1991. The Author shall advise Publisher immediately
following Author's disposition of Australian rights in the Literary Work. The
Publisher shall pay the Author royalties on such sales at the applicable export
royalty rate.

<PAGE>   15

Territorial Extent of Secondary Rights

      47.   The secondary rights are world-wide rights, and all provisions as to
the disposition of such secondary rights and the sharing of the proceeds thereof
shall apply equally in all countries of the world.

Duration of Grant

      48.   All rights granted under this agreement are, except where expressly
subject to earlier termination, to continue in effect during the full term of
the copyright of the Literary Work in the United States under the laws of the
United States.

Author's Rights

      49.   All rights not expressly granted by the Author to the Publisher are
reserved by the Author. The Author shall not exercise or dispose of any reserved
rights in such a way as substantially to destroy, detract from, impair or
frustrate the value of any rights granted herein to the Publisher, nor shall the
Author publish or permit to be published during the term of this agreement any
book or other writing based substantially on subject matter, material,
characters of incidents in the Literary Work without the written consent of the
Publisher. The Author has not granted and will not grant to any person (except
to the Publisher), permission, authority, right or license for publication or
distribution of the Literary Work in the open English language market, in a
mass-market or trade paperback edition, sooner than the latter of one year
following the publication of any British hardcover edition or three months
following publication of the first United States mass market paperback edition.
The Author shall not submit any full-length work or proposal therefore in any
form to the Publisher or to any third party until he or she has delivered to the
Publisher the complete manuscript of the Literary Work in Final Form.

Disposition or Exercise by Publisher of Primary Rights

      50.   The Publisher shall have the exclusive right, but shall not be
obligated, to dispose of or exercise any or all of the primary rights in the
Literary Work. During the Author's lifetime, however, such right shall be
subject to the Author's consent in case of disposition of mass market paperback
rights, such consent not unreasonably to be withheld or delayed. The Publisher
shall notify the Author promptly after each disposition of primary rights, but
inadvertent failure to do so will not be deemed a breach of this agreement.

Disposition of Author's Unshared Secondary Rights

      51.   The Author shall have the exclusive right to dispose of the Author's
unshared secondary rights, and shall notify the Publisher promptly after each
such disposition.

Flow-Through to Publisher

      52.   Deleted

<PAGE>   16

Disposition by Publisher of Shared Secondary Rights

      53.   The Publisher shall have the exclusive right, but shall not be
obligated, as agent of the Author to dispose of the shared secondary rights as
to which it has authority from the Author. The Publisher may appoint an agent to
dispose of any rights of which the Publisher is authorized to dispose. When
Publisher is specifically authorized to dispose of rights such authorization
shall be deemed an agency coupled with an interest.

Approvals, Sales to Affiliates

      54.   Neither the Publisher nor the Author shall unreasonably withhold
consent where such consent is requested in connection with the disposition or
exercise of rights under this agreement. The Author and the Publisher shall each
have the right to receive copies of any contracts made with respect to said
rights on request therefore. The Publisher may sell copies of the Literary Work
and license primary and secondary rights granted to Publisher in the Literary
Work to Publisher's parent, subsidiaries, affiliates and divisions, provided
that the terms for such sale or license shall be no less favorable to the Author
than the terms which Publisher in its reasonable judgment would accept from an
unrelated third party.

Author's Consent

      55.   When the Author's written consent or approval is requested under
this agreement, if the Author, or Author's agent or estate does not answer the
Publisher's request for such consent or approval within a reasonable time, or if
after reasonable diligence the Publisher has not succeeded in informing the
Author or Author's agent or estate that such consent or approval is desired, the
Author shall be deemed to have given his or her consent.

Author's Name and Likeness

      56.   The Publisher may use the name and photograph or other likeness of
the Author on the cover and jacket and generally in connection with the
advertising and promotion of the Literary Work.

Author and Publisher to Execute Documents

      57.   The Author shall, when requested by the Publisher, execute all
documents which may be reasonably necessary or appropriate to enable the
Publisher to exercise or deal with any of the rights granted hereunder. Author
hereby appoints Publisher to be Author's attorney-in-fact to execute in Author's
name and to file any and all documents necessary to record in the Copyright
Office the assignment of exclusive rights made to Publisher hereunder.

License Without Fee

      58.   The Publisher is authorized to publish or license publication of the
Literary Work in Braille or large type editions for sale to the physically
handicapped and is authorized to publish or license publication of extracts of
the Literary Work containing not more than one

<PAGE>   17

chapter or 10,000 words for promotional purposes and in connection with motion
picture licenses, without compensation therefore. In the event compensation is
received it shall be shared as provided in Part SECOND: B(iii) of the Publishing
Agreement.

                                    PART FOUR

                                    Copyright

Copyright in the United States

      59.   The Publisher shall identify the Author as the owner of the
copyright in the Literary Work and may register such copyright in the United
States in the name of the Author.

Notice

      60.   The Publisher shall print in each copy of the Literary Work
published by it any notice required to comply with the applicable copyright laws
of the United States and the provisions of the Universal Copyright Convention
and the Berne Copyright Convention.

Protection of Copyright in Disposition of Rights

      61.   Any agreement made by the Author or by the Publisher to dispose of
any rights in and to the Literary Work shall require the licensee or grantee to
take all necessary and appropriate steps to protect the copyright in the
Literary Work.

Foreign Copyright

      62.   The Publisher may take such steps as it deems appropriate to
copyright the Literary Work in countries other than the United States, but the
Publisher shall be under no obligation to procure copyright in any such
countries, and shall not be liable to the Author for any acts or omissions by it
in connection therewith. The Author may copyright the Literary Work in any
foreign country if the Publisher fails to take steps to obtain such a copyright
within 30 days after receiving a written request from the Author to do so.

<PAGE>   18

                                    PART FIVE

                          Royalties and Other Payments

Computation of Royalties Generally

      63.   When royalties are based on the catalog retail price they shall be
computed on the basis of the number of copies actually sold by the Publisher,
less returns. No royalties shall be computed on copies given away for review or
promotion, nor on copies given to the Author.

On Mail Orders and Special Discounts

      64.   On mail order sales and special discount sales the royalty shall be
5% of the net amount actually received from such sales.

On Sheet and Export

      65.   On copies sold for export to third parties or outside the United
States by Publisher or its affiliates, and on unbound sheet sales, royalties
shall be calculated on the net amount actually received from such sales. No
royalty will be payable to the Author with respect to any unbound sheet sales or
full copy sales for export where such copies are furnished to a licensee at the
Publisher's cost plus a handling charge for such sheets and/or copies.

On Sales From Reduced Printings

      66.   On sales made out of any new printings or bindings of 2,500 copies
or less, made more than one year after publication date, royalties shall be
computed at one-half the base royalty rate.

Royalty Statements and Payments

      67.   The Publisher shall render royalty statements and make accounting
and royalty and other payments to the Author (s) in February for the preceding
period April 1 to September 30, and (b) in August for the preceding period
October 1 to March 31. Publisher may from time to time change such accounting
periods provided no longer than six months elapses between any two accountings
to the Author. If for any royalty period the current period total activity in
the Author's account for the Literary work is less than $100, then the Publisher
may defer the rendering of a statement and payment until such royalty period as
the cumulative activity since the last statement exceeds such amount.

Details to Be Shown

      68.   Royalty statement shall state the number of copies sold and returned
during the period covered and the reserve for returns being held by the
Publisher. If Author so requests in writing, the Publisher shall, within 60 days
after its receipt of such request, advise the Author in

<PAGE>   19

available detail of the number of copies printed, sold, and given away during
the current period covered by the last royalty statement rendered to the Author,
as well as the approximate number of salable copies on hand at the end of said
period.

Book Club Sales

      69.   On sales to book clubs, the amount allocated as royalty or other
compensation to the Publisher shall be divided equally between the Author and
the Publisher. No royalty will be payable to the Author on unbound sheet sales
or full copy sales to book clubs where such copies are furnished at the
Publisher's cost plus a handling charge for such sheets and/or copies.

Certain Primary Rights Exercised By Publisher

      70.   (a) On the exercise of textbook rights by publication under one of
its own imprints royalties (but no further advance) shall be paid to the Author
at the following rates: (i) 6% of the catalog retail price on the first 25,000
copies sold within the United States, exclusive of sales specified in
subparagraph (iii) below; and (ii) 7-1/2% of the catalog retail price on all
copies sold within the United States thereafter, exclusive of the sales
specified in subparagraph (iii) below; and (iii) 5% of the net amount actually
received on mail order sales, on all copies sold for export or outside the
United States and on special discount sales.

            (b) On Publisher's publication of a large print edition or a
hardcover reprint edition of the Literary Work under one of its own imprints,
royalties (but no further advance) shall be paid to the Author at the following
rates: (i) 10% of the net amount received by Publisher on all copies sold within
the United States, exclusive of sales specified in subparagraph (ii) below, and
(ii) 5% of the net amount received on mail order sales, on all copies sold for
export or outside the United States and on special discount sales.

            (c) On the exercise of electronic rights under one of its own or its
affiliated imprints royalties (but no further advance) shall be paid to the
Author on electronic versions at the prevailing rate paid for similar uses.
Author and Publisher shall negotiate in good faith to establish such rate. If
the Literary Work is combined with another work or works in an electronic
version, the Author's royalty on such electronic version shall be a pro rata
share of the total royalty payable for such electronic version, based on the
proportion material from the Literary Work bears to the electronic version as a
whole.

Remainder and Salvage Sales

      71.   When the Publisher in its sole discretion determines that copies of
the Literary work are not readily salable at regular prices within a reasonable
time, the Publisher may remainder copies of the Literary Work (but not earlier
than 12 months from the actual publication date) or dispose of such copies as
surplus at the best price obtainable. Notwithstanding anything set forth in this
agreement, no royalty shall be payable on copies of the Literary Work sold at a
discount of 85% or more from the catalog retail price. Publisher shall

<PAGE>   20

make no remainder sale without first offering copies to the Author at the
estimated remainder price, provided, however, that inadvertent failure to offer
such copies to the Author will not be deemed a material breach of this
agreement.

Payment of Advances

      72.   The payment of advances to the Author, including such payment
following delivery of the manuscript, shall not be deemed to be evidence either
that the manuscript of the Literary Work is acceptable to the Publisher, or that
the Author has complied with Author's warranties or other agreements hereunder.
An unearned advance under this agreement or any other agreement between Author
and Publisher will not be deemed an overpayment.

Offset

      73.   Any advance royalties or other sums paid to or on behalf of the
Author under this agreement or other wise, and any amounts due from the Author
to the Publisher, may be applied in reduction of any amounts payable to the
Author under this agreement. In the event of any overpayment by the Publisher to
the Author, the Publisher may, in addition to any other remedies available to
it, recoup such overpayment by deducting it from any amount payable to the
Author under this agreement or any other agreement between Author and Publisher
will not be deemed an overpayment.

Freight Pass-Through

      74.   In some instances Publisher prints on the jackets and/or covers of
its books a suggested cover price that is higher than its catalog retail price.
In such instances, where the royalty is based on the retail price, the catalog
retail price, not the suggested cover price, shall be the basis for the
computation. The difference between the two prices enables the retailer to
recoup its freight costs.

Reserve for Returns

      75.   Any amounts payable to the Author hereunder shall be subject to such
reasonable reserve for returns of copies of the Literary Work as the Publisher
shall establish in its reasonable discretion.

Author's Right to Examine Books of Account

      76.   The Author or the Author's representative may, upon written request,
conduct a reasonable examination of the books and records of the Publisher
insofar as they relate to the Literary Work for the period of two years
immediately preceding such examination. Such examination shall be on Publisher's
premises at a time convenient to Publisher, but no later than 90 days after
Author's request for such examination. Statements rendered hereunder shall be
final and binding upon Author unless objected to in writing, setting forth the
specific objections thereto and the basis for such objections, within two years
after the date of the statement.

<PAGE>   21

Author's Agent

      77.   If the Author has an agent, as indicated by the inclusion of an
agent's name and address in the Publishing Agreement, until receipt by the
Publisher of notice signed by the Author canceling the agent's authority
hereunder, all payments accruing to the Author under this agreement shall be
made to such Author's agent, and the receipt by the Author's agent shall
constitute a full and valid discharge of the Publisher's obligations for such
payments under this agreement. Author's agent is fully authorized to do and
perform all acts on behalf of the author in all matters arising out of or under
this agreement, and the Publisher may conclusively rely upon such authority
until actual receipt by Publisher of written notice, signed by the Author,
canceling or limiting such authority. No such revocation or limitation shall
affect the validity of any act of the agent prior to receipt of such notice by
the Publisher to the extent that the Publisher has relied thereon.

                                    PART SIX

                 Delivery of Manuscript and Correction of Proofs

Failure of Author to Deliver Work in Final Form

      78.   (a) Timely delivery of the literary Work in Final Form is essential
to the Publisher and is of the essence of this agreement. Any extension of the
delivery date must be in writing signed by the Publisher. If the Author fails to
deliver the Literary Work in Final Form within 30 days after the time specified,
the Publisher shall have the option to give the Author a notice in writing
terminating this agreement, and in such event the Publisher may then recover and
the Author shall repay on demand all amounts advanced to the Author. In the
event that the Author completes a manuscript for the Literary Work after
termination of this agreement pursuant to the preceding sentence, then the
Publisher shall have the option, exercisable within 30 days after receipt of
said manuscript, to acquire the Literary Work on the same terms and conditions
as provided in this agreement.

            (b) The Publisher shall not be obligated to accept or publish the
Literary Work if in its sole judgment such work is not acceptable to it. If the
Author delivers a manuscript of the Literary Work within the time specified, in
what the Author represents to be Final Form, the Literary Work shall be deemed
to be acceptable to the Publisher unless, within 90 days after receipt thereof
by the Publisher, the Publisher notifies the Author in writing of the reasons
why the submitted manuscript is unacceptable (including, without limitation,
reservations or questions of the Publisher concerning matters within any of the
warranties, representations and agreements contained in Paragraphs 36-42), in
which case the Author shall have a period of 60 days to respond to the
satisfaction of the Publisher in respect to all subject matter of such notice.
If the Author fails to deliver a revised manuscript within said 60-day period,
or if the revised manuscript is not acceptable to the Publisher, then Author
shall repay on demand all amounts advanced to the Author and upon such repayment
this agreement shall terminate. If the

<PAGE>   22

Publisher in its sole discretion determines to submit the manuscript to a legal
review, the Author shall cooperate with Publisher or Publisher's counsel in such
review and notwithstanding anything to the contrary in this agreement the time
for Publisher to accept or reject the Literary Work shall be extended to 30 days
after completion of the legal review.

Delay for Author's Illness

      79.   If because of illness or any other factor beyond his or her control,
the Author is unable to deliver the Literary Work by the date provided in the
Publishing Agreement, the date for such delivery shall be extended for a
reasonable time. If after the elapse of such reasonable time the Author
continues to be unable to deliver the Literary Work or to satisfy the
Publisher's request for changes or substantiation, then the Publisher may give
written notice of termination, effective at the expiration of 60 days or such
longer period as the Publisher may specify in such notice, and if the Author
shall fail to deliver the manuscript in Final Form within such period then this
agreement shall terminate and the Author shall repay on demand all amounts
advanced to Author. If the Author dies prior to acceptance by the Publisher,
whether or not following delivery of the manuscript in Final Form, the
Publisher, in its sole discretion, may terminate this agreement upon giving a
written notice of termination to the Author's personal representatives within 90
days of receipt by Publisher of notice of Author's death. In such event the
Publisher may then recover from such personal representatives all amounts
previously advanced hereunder.

Failure to Deliver Photos, Charts, Etc.; Care of Property

      80.   (a) If the Author fails to deliver photographs, charts, maps,
drawings, or the index, in cases where any of these are required by Publisher
for the Literary Work, the Publisher shall have the right (but not the
obligation) to cause the same to be prepared, and in such event the cost of such
preparation shall be borne by the Author as follows: (i) Author shall pay such
costs upon receipt of an invoice from the Publisher; (ii) Publisher may withhold
a portion of any advances payable to the Author under this agreement and deduct
such costs from said advances; or (iii) at Publisher's option, Publisher may
charge such cost to Author's royalty account, provided however that if the
advance payable to Author under this agreement is unearned one year after
publication of the Literary Work, then Author will reimburse Publisher for such
costs upon receipt of an invoice from Publisher.

            (b) Publisher shall be responsible for only the same care of any
property of Author in its hands as it takes of its own. Except in the case of
Publisher's gross negligence, Publisher shall not be responsible for loss or
damage to any property furnished by Author while in Publisher's custody or in
the custody of anyone to whom delivery of such property is necessary in
connection with the production of the Literary Work or is otherwise made with
Author's consent. Author shall retain copies of any such property and, in the
case of photographs, the negative for each photograph furnished.

Correction of Proofs

      81.   The Publisher shall supply the Author with one set of galley or
other first proofs and, at its option, subsequent proofs, and the Author shall
return each set of proofs with his or

<PAGE>   23

her corrections to the Publisher within 21 days of receipt thereof. The
Publisher also shall proofread the proofs. If the Author shall fail to return
the corrected proofs within the 21-day period herein specified, the Publisher
may publish the Literary Work without the Author's approval of the proofs -
provided, however, that if, because of illness or any other factor beyond his or
her control, the Author informs the Publisher that he or she is unable so to
return the corrected proofs, his or her time for correcting such proofs shall be
extended for another 21-day period, and after that period the Publisher may
publish the Literary Work without the Author's approval of the proofs.

Cost of Author's Alterations

      82.   If, in the correction of proofs, the author requests changes from
the text of the manuscript, the Author shall bear the cost of such changes over
15% of the original cost of composition, as follows: (i) Author shall pay such
costs upon receipt of an invoice from the Publisher; (ii) Publisher may withhold
a portion of any advances payable to the Author under this agreement and deduct
such costs from said advances; or (iii) at Publisher's option, Publisher may
charge such cost to Author's royalty account, provided however, that if the
advance payable to the Author under this agreement is unearned one year after
publication of the Literary Work, then the Author will reimburse Publisher for
such costs upon receipt of an invoice from Publisher. At Author's request
Publisher shall submit an itemized statement of such charges and shall make
available corrected proofs for the Author's inspection at the Publisher's
office.

No Obligation to Publish

      83.   (a) Notwithstanding anything contained herein to the contrary, the
Publisher shall not be obligated to publish the Literary Work if, in its sole
and absolute judgment, whether before or after acceptance thereof, the Literary
Work contains libelous or obscene material, or its publication would violate the
right of privacy, common law or statutory copyright, or any other right of any
person. In such event, Publisher shall be entitled on demand to the return of
all monies advanced to the Author hereunder, and to terminate this agreement.
Notwithstanding any request by Publisher for change or substantiation, nothing
in this agreement shall be deemed to impose upon the Publisher any duty of
independent investigation or to relieve the Author of any of the obligations
assumed by Author hereunder, including, without limitation, the ongoing validity
of Author's warranties and representations.

            (b) Notwithstanding anything contained herein to the contrary, the
Publisher shall not be obligated to publish the Literary Work if, in its sole
and absolute judgment, whether before or after acceptance thereof, supervening
events or circumstances since the date of this agreement have, in the sale
judgment of the Publisher, materially adversely changed the economic
expectations of the Publisher in respect to the Literary Work at the time of the
making of this agreement, and in such event all of the Publisher's rights in and
to the Literary Work shall terminate and revert to the Author on the giving by
the Publisher to the Author of notice of its decision, or, if the Publisher
fails to do so, by the Author pursuant to Paragraph 84, and in any such event,
except as provided in Paragraph 79, the Author shall be entitled as liquidated
damages and in lieu of all damages and remedies, legal or equitable, to retain
all payments theretofore made to the Author under this agreement.

<PAGE>   24

                                   PART SEVEN

                              Delays in Publication

Delays Due to Publisher's Fault

      84.   The Publisher, in its sole and absolute discretion, shall have the
right to reschedule publication of the Literary Work beyond the agreed
publication date for a reasonable time. If publication of the Literary Work is
delayed in the absence of excusable circumstances the Author's sole and
exclusive remedy shall be to give the Publisher a notice in writing, stating
that if the Publisher fails to publish the Literary Work within 180 days after
the date of such notice, then all of the Publisher's rights in and to the
Literary Work shall terminate at the end of such 180-day period; and if, in such
event, the Publisher shall fail to publish the Literary Work within such 180-day
period, all of the Publisher's rights in and to the Literary Work shall
terminate and revert to the Author, and the Author shall be entitled, as
liquidated damages and in lieu of all damages and remedies, legal or equitable,
to retain all payments theretofore made to Author under this agreement.

Delays Not Due to Publisher's Fault

      85.   If publication is delayed beyond the agreed publication date because
of acts of conditions beyond the control of the Publisher or its suppliers or
contractors, including (by way of illustration and not by way of limitation)
war, shortages of material, strikes, riots, civil commotions, fire or flood, the
agreed publication date shall be extended to a date six months following removal
of the cause of the delay.

                                   PART EIGHT

                            Disputes Between Parties

Disputes Between Parties

      86.   Exclusive jurisdiction for the determination of any dispute solely
between or among parties to this agreement is hereby vested in the Supreme
Court, New York County, or, at the election of either party of the
jurisdictional prerequisites at the time exist, in the United States District
Court for the Southern District of New York, and each party hereto shall submit
to the jurisdiction of either such court in the City and State of New York for
the determination of any such dispute and hereby consents (in addition to
service of process by any other means provided at the time by law) to service of
process on him, her or it, as the case may be, by registered mail, first class
postage prepaid, return receipt requested, addressed t the party named in such
process at the address to which notices may be given pursuant to Paragraph 106
of this agreement. Such notice by mail so given shall confer jurisdiction upon
such court.

<PAGE>   25

                                    PART NINE

                    Indemnification and Defense of Litigation

Indemnification by Author

      87.   The Author shall indemnify and hold the Publisher harmless against
any loss, liability, damage, cost or expense (including reasonable attorneys'
fees) arising out of or for the purpose of avoiding any suit, proceeding, claim
or demand or the settlement thereof, which may be brought or made against the
Publisher by reason of the publication, sale, or distribution of, or disposition
of rights in respect to the Literary Work, based on the contents of the Literary
Work, except in connection with matters involving solely controversies arising
out of or based on commercial transactions between the Publisher and its
customers.

Notice of Suits Brought

      88.   Prompt notice of any suit, proceeding, claim or demand brought or
made against the Publisher or Author shall be given to the Author or Publisher
respectively.

Cost of Defending Suits

      89.   If any suit, claim or demand is brought or made, other than as
excepted in Paragraph 87, the Publisher may elect (i) to undertake the defense
thereof, or (ii) to notify the Author to undertake the defense. If the Publisher
does so notify the Author, the Author shall undertake such defense; and in such
cases the Publisher may, at its option, join in the defense. In all the
foregoing events the cost and expense of any defense shall be born by the
Author, unless the Author has, pursuant to notification from the Publisher,
undertaken the defense and the Publisher at its option elects to join with the
Author in the defense, in which case the total cost and expense (including
reasonable attorneys' fees) shall be shared equally by the Publisher and Author.

Limitation on Liability

      90.   Whenever any non-excepted suit, claim or demand is instituted, the
Publisher may withhold payments due to the Author under this agreement, or any
other agreement between the Author and the Publisher. If a final adverse
judgment is rendered in such a suit and is not discharged by the Author, the
Publisher may apply the payments so withheld to its expenses and to the
satisfaction and discharge of such judgment. Author shall be insured under the
Publisher's liability policy which covers claims for libel and other forms of
defamation, invasion of privacy or publicity and infringement of copyright or
trademark arising from publication of the Literary Work, to the extent such
policy is valid and collectible. In connection with such coverage and
notwithstanding the other provisions of this Part Nine, with respect to all
judgments, settlements and costs of defense, including attorneys' fees and other
costs of claims covered by the policy, the Publisher and the Author shall share
equally the first $100,000 of all such costs; thereafter the Author's liability
shall be limited to 10% of all such costs up to the limits of the policy.

<PAGE>   26

Publisher shall retain counsel to represent Publisher and Author in any
proceeding brought with respect to all such claims and shall control the defense
of such claims, and Author shall cooperate fully with Publisher and said counsel
in such defense. Notwithstanding the foregoing, Author shall be solely
responsible for the cost of counsel separately retained by the Author for any
reason and for judgments, settlements and costs of defense, including all
attorneys' fees, attributable to a willful or reckless breach of this agreement
by Author, and for any uninsured amount upon the finding of any copyright
infringement.

                                    PART TEN

                             Infringement by Others

Suits, by Publisher or Author

      91.   If during the existence of this agreement the copyright, or any
other right in respect to the Literary Work, is infringed upon or violated, the
Publisher may, at its own cost and expense, take such legal action, in the
Author's name if necessary, as may be required to restrain such infringement and
to seek damages therefore. The Publisher shall not be liable to the Author for
the Publisher's failure to take such legal steps. If the Publisher does not
bring such an action, the Author may do so in his or her own name and at his or
her own cost and expense. Money damages recovered for an infringement shall be
applied first toward the repayment of the expense of bringing and maintaining
the action, and thereafter the balance shall be divided equally between the
Author and Publisher.

                                   PART ELEVEN

                           Withdrawal From Publication

If Discontinued or Out of Print

      92.   If, at any time after the expiration of two years from the actual
publication date, the Publisher allows all of its editions of the Literary Work
to go out of print and such status continues in effect for six months after the
Author has made a written request for Publisher to put the Literary Work back
into print, and if there is no English language or foreign language reprint
edition authorized by Publisher available or contracted for, then the Author may
by a notice in writing terminate this agreement subject to any licenses
previously granted by Publisher (and any renewals or extensions thereof) and
Publisher's right to continue to share in the proceeds therefrom. In the event
of such termination the Author shall have the right to purchase any available
plates or film of the Literary Work at cost, and/or any remaining copies or
sheets of the Literary Work at cost. If the Author does not purchase such
plates, film, copies or sheets, then

<PAGE>   27

the Publisher may dispose of them at any price and retain the proceeds of such
sale. The Publisher is under no obligation to retain any such plates, film,
copies or sheets. The Literary Work shall not be deemed out of print as long as
it is (a) available in any edition, including electronic editions, in
Publisher's inventory; (b) offered for sale by Publisher in its catalog or order
form; or (c) electronically stored and available to the consumer for retrieval.

                                   PART TWELVE

                               Breach by Publisher

Termination for Material Breach

      93.   Except as otherwise specifically provided in this agreement, if the
Publisher shall commit a material breach of this agreement and shall fail to
remedy the breach within 60 days after receiving a written notice from the
Author requesting the Publisher to remedy such breach, the Author may by a
notice in writing (a) revoke the Publisher's right to publish the Literary Work,
if it has not been published at such time; (b) require the Publisher to cease
further publication of the Literary Work, if it has been published at such time,
but in such event the Publisher shall be permitted to sell all copies of those
editions of the Literary Work which have already been printed or are in the
process of being printed; (c) revoke the grant to the Publisher of such of the
other primary rights as the Publisher has not already exercised or disposed of;
(d) revoke any power given to the Publisher to dispose of such secondary rights
as have not already been disposed of; and (e) revoke any grant of the rights
made to the Publisher in the Publishing Agreement to share in the proceeds on
disposition of such secondary rights as have not already disposed of. In such
event the Author shall have the right to purchase any available plates or film
of the Literary Work at cost, and/or remaining copies or sheets of the Literary
Work already printed at the Publisher's manufacturing cost. If the Author does
not purchase such places, film copies or sheets, the Publisher may dispose of
them at any price and retain the proceeds of such sale. The Publisher is under
no obligation to retain any such places, film, copies or sheets. Any right of
the Author pursuant to Paragraph 76 shall survive such termination.

                                  PART THIRTEEN

                            Miscellaneous Provisions

Publisher Shall Determine Style, etc.

      94.   The format, imprint, style of printing and binding, and all matters
relating to the manufacture, sale, distribution and promotion of the Literary
Work shall be determined at the sole discretion of the Publisher. The Publisher
may not make changes in the manuscript of the Literary Work without the consent
of the Author, except that the Publisher may make changes (i)

<PAGE>   28

in the capitalization and punctuation of the Literary Work, to make it conform
to the Publisher's accepted style, or (ii) in the spelling and punctuation of a
British edition of the Literary Work, to make it conform to American usage.

Title Changes

      95.   The title of the Literary Work as set forth in the Publishing
Agreement may be changed by mutual agreement of the Author and the Publisher.

Single Author to Represent

      96.   When there is more than one author, any one may be designated in
writing to act on behalf of all the authors jointly, and the Publisher may rely
on the acts of the author so designated as representative of and binding upon
all authors; and in the absence of such designation, the Publisher may deal with
any one of the authors as the agent and representative of all, and may rely on
the acts of such author-representative as binding on all the authors.

Free Copies for Author, Purchases by Author

      97.   The Publisher shall present the Author with fifty-three copies of
each edition of the Literary Work published by the Publisher, upon publication.
The Author shall have the right to purchase additional copies for his or her own
use, and not for resale, at a 40% discount from the catalog retail price (or
otherwise in accordance with the provisions of THIRD: C.1 of the Publishing
Agreement).

Revisions

      98.   (a) Author shall revise the first and subsequent editions of the
Literary Work at the request of Publisher and supply any new matter necessary
from time to time to keep the Literary Work up to date. If Author shall neglect,
be incapable, be unwilling or, in Publisher's judgment, will not be able to
revise or supply new matter at a time and in a form satisfactory to Publisher,
then Publisher shall have the right to engage some other person(s) to do so.
When such revisions are not made by Author, Publisher may cause such fact to be
evidenced in the revised edition. Publisher shall have all rights in connection
with all subsequent editions which Publisher has in the original Literary Work.

            (b) All royalties payable to the Author on each subsequent edition
      will be computed separately from the number of copies sold of prior
      editions. If individuals other than Author revise any editions of the
      Literary Work, then Author shall receive as royalties on the first such
      revised edition 50% of the royalties otherwise due hereunder. Thereafter,
      with respect to any subsequent edition to which the Author does not
      contribute, the royalty shall equal 50% less than Author received on the
      prior edition, through and including the third such revision and on any
      revision subsequent thereto Author will not receive any royalties.

<PAGE>   29

Publisher to Execute Documents

      99.   If any of the rights granted to the Publisher revert to the Author,
the Publisher shall execute all documents which may be necessary or appropriate
to revest all such rights in the Author.

Acceptance of Agreement

      100.  This agreement shall be binding on the Publisher only when it has
been signed by an authorized officer of the Publisher.

Laws Applicable to Agreement

      101.  This agreement shall be construed in accordance with the laws of the
State of New York applicable to agreements made and performed therein.

Agreement on Binding on Successors in Interest

      102.  This agreement shall be binding upon and inure to the benefit of the
executors, administrators and assigns of the Author, and upon and to the
successors and assigns of the Publisher.

Modification of Agreement

      103.  This agreement may not be modified, altered or changed except by an
instrument in writing signed by the party to be charged.

Waivers Are Not Cumulative

      104.  No waiver of any term or condition of this agreement, or of any
breach of this agreement or of any part thereof, shall be deemed a waiver of any
other term or condition of this agreement or of any later breach of this
agreement or of any part thereof, nor shall publication or continued publication
or payment by the Publisher following notice or claim of facts which, if true,
would constitute a breach of warranty, representation or agreement of the
Author, constitute or imply any waiver by the Publisher of any defenses, rights
or remedies of the Publisher. No failure by either party to assert any right
under this agreement shall preclude any later assertion of such right.

Validity and Enforceability

      105.  The invalidity or unenforceability of any provision of this
agreement shall not affect the validity or enforceability of any other provision
hereof, and any such invalid or unenforceable provision shall be deemed to be
severable.

<PAGE>   30

Notices

      106.  All notices to be given hereunder by either party shall be in
writing and shall be sent to the other party at the respective addresses as they
are given in the Publishing Agreement, unless said addresses are changed by
either party by a notice in writing to the other party. All notices shall be
sent by registered mail or other form of receipted or acknowledged delivery
including a fax transmission acknowledged as received by the party to which it
is sent.

Singular Shall Include Plural

      107.  Wherever required by the context in this agreement, the singular
shall include the plural, and the masculine shall include the feminine and the
neuter. The term "Author" shall include the "Authors" if there are more than
one.

Captions, Table of Contents, etc.

      108.  Captions or printed marginal notes, and the table of contents of
this agreement are for convenience only, and are not to be deemed part of this
agreement.<PAGE>   1

                                                                   EXHIBIT 10.48

                                    AGREEMENT

                                                            December 7, 1999
TALENT:          STAN LEE ("Lee")
                 9143 Oriole Way
                 Los Angeles  CA  90069

                 STAN LEE MEDIA, INC. ("SLM")
                 15821 Ventura Boulevard, Suite 675
                 Encino  CA  91436

                 and

                 Branded Entertainment LLC ("Branded")
                 For the services of MICHAEL USLAN ("Uslan")

                 333 Crestmont Road
                 Cedar Grove, NJ 07009

PROPERTY:        THE DC UNIVERSE INCLUDING ALL MAJOR DC CHARACTERS

SERVICES:        FULL SCRIPT (INCLUDING SYNOPSIS, PLOT AND DIALOGUE)
                 (hereinafter "Script")

WORK:            TWELVE (12) ISSUES OF APPROXIMATELY 48 STORY PAGES EACH;
                 PROJECTED TO BE INITIALLY PUBLISHED AS SIX ISSUES ON A
                 BIMONTHLY BASIS FOLLOWED BY GAP OF SUCH PERIOD AS THE PARTIES
                 MUTUALLY AGREE FOLLOWED BY ANOTHER SIX ISSUES TO BE PUBLISHED
                 ON A BIMONTHLY BASIS, ALL SUCH ISSUES TO BE PUBLISHED IN ONE OR
                 MORE FORMATS (hereinafter "Issue[s]") FOLLOWED BY ONE OR MORE
                 COLLECTED EDITIONS OF THE ISSUES (hereinafter "Collection[s]")
                 tentatively entitled "THE STANIVERSE" OR "IF STAN LEE HAD
                 CREATED THE DC UNIVERSE" (hereinafter the "Title" which term
                 shall include any title under which the Work is ultimately
                 published)

The following shall constitute the complete and sole understanding and agreement
between Talent and DC Comics, 1700 Broadway, New York, NY 10019 ("DC").

1.      Engagement and Services:

        (a) DC hereby engages Talent, as an independent contractor, to create
the Script for the Work, based upon the Property. Talent accepts such
engagement.

        (b) Talent shall deliver the completed Script for each Issue to DC on a
schedule to be determined by DC and Talent with the understanding that the first
six (6) Issues are intended to be published between Fall, 2000 and the end of
2001, and subsequently to be collected and published in a single volume, and the
second six Issues to be published on such schedule as the parties shall mutually
agree and subsequently to be collected and published in a single volume.

        (c) Talent further shall complete any revisions requested by DC as
expeditiously as possible but in any event by such date upon which the parties
expressly agree such revisions are to be delivered to DC.

<PAGE>   2

        (d) DC's approval of any plot or synopsis of the Script in no way limits
DC's right to further revisions of any portion of the Script. An editor selected
by DC in consultation with Talent will be assigned to supervise and work with
Talent in the fulfillment by Talent of its obligations hereunder. Talent agrees
to cooperate with such editor and to respect DC's instructions, directions,
requests, rules and regulations including those involving artistic taste and
judgment.

        (e) Talent shall cooperate with DC in the promotion, publicity and
advertising of the Work as published in Issues and Collection(s). In particular,
Lee shall make a reasonable number of personal and media appearances to promote
the Work, provided that: (i) DC shall bear all reasonable expenses for such
appearances by Lee who shall be permitted to travel first class and stay in
accommodations consistent with such accommodations as are afforded to DC's
Executive Vice President and Publisher traveling for business; (ii) DC shall
give Lee reasonable notice of the dates and places of all proposed appearances;
and (iii) no appearances shall be required of Lee in places other than in Los
Angeles, Chicago, or New York, or at the San Diego Comiccon.

        (f) It is the express intent of the parties that the Work, and any
"Sequel" or "Crossover" to be written by Talent as provided in paragraphs 8 and
10 below, shall be written by Lee with Uslan providing background assistance
based on Uslan's unusual familiarity and knowledge of both Lee's prior writing
and the Property. Notwithstanding the foregoing, provided the Work, any Sequel
or any Crossover is written under Lee's supervision and control, Lee's failure
to write all or any part of the same himself shall not be deemed to be a
material breach of this Agreement.

2.      Compensation:

        (a) On sales by DC of copies of Issues and/or Collections of the Work or
any other DC publication based on the Work, and on sales by DC of "Retail
Products" (as defined in Schedule A hereto) based on the Work, DC shall pay
Talent the applicable royalties in accordance with Schedule A.

        (b) On sales of "Licensed Reprint Editions" as such term is defined in
Schedule B hereto, DC shall pay Talent the applicable share of revenues in
accordance with Schedule B.

        (c) On licensed uses of the Work in film, television, publishing (other
than in Licensed Reprint Editions or Licensed Reprint Editions of Sequels),
promotions and merchandise, DC shall pay Talent the applicable share of revenues
in accordance with Schedule B hereto, provided such licensed use incorporates
Lee's name and/or the Title, or any other name or title that derives from Lee's
name or the Title. In the event such licensed use makes no use of Lee's name or
the Title, no consideration shall be due to Talent for such licensed use except
as may be otherwise provided in paragraph 6 below.

        (d) In the event DC elects to create any promotional program based on
the Work utilizing Lee's name or the Title which program is intended by DC to
itself generate significant revenues in excess of the costs of conducting such
program, DC shall, in good faith, negotiate with Talent an appropriate royalty
to pay Talent therefor.

        (e) DC shall divide and make all payments to be made to Talent hereunder
between Lee, SLM and Branded as follows, or as Uslan may otherwise direct:

                                       2
<PAGE>   3

               (i) Branded: (A) Thirty Three and One-Third percent (33.33%) of
all amounts due to Talent for: (1) publications of the Work pursuant to Schedule
A; and (2) Licensed Reprint Editions of the Work pursuant to Schedule B; and (B)
Twenty Five percent (25%) of all other amounts due to Talent hereunder including
from publications of Sequels and Licensed Reprint Editions of Sequels; and

               (ii) Lee: as Lee shall direct DC in writing; and

               (iii) the balance to SLM.

        (f) All payment(s) to Lee, SLM or Branded hereunder shall constitute
good and valid discharges by DC in respect of DC's payment obligations to Talent
hereunder.

3.      Representations and Warranties:

        (a) Lee, SLM, and Branded each represent, warrant and agree: that it is
free to enter into this Agreement and has the right to grant all rights granted
to DC hereunder; that except insofar as the Script may derive from the Property,
the Script created by Talent hereunder will be wholly original with Talent or in
the public domain throughout the world, and shall not infringe or violate any
copyright, trademark, right of privacy or publicity or any other right of any
person or entity, or defame and third party; and that Lee, SLM and Branded will
each indemnify DC, its parent company, affiliated companies, assigns, licensees
and successors in interest and each of their officers, directors and employees,
from and against any and all claims, actions, damages, costs and expenses,
including attorneys' fees, arising out of any material breach of any of the
warranties made by it hereunder.

        (b) DC shall indemnify Talent and Uslan against any and all claims,
actions, damages, costs and expenses, including attorneys' fees, which may arise
from Talent's use of material supplied to him by an officer or authorized
employee of DC for use in connection with the Script, including all uses of the
Property approved for publication by DC's editor assigned to the Work.

4.      Ownership:

        (a) The Work created hereunder has been specially commissioned by DC for
use as a contribution to a collective work, and constitutes a work made for hire
as that term is used in the United States Copyright Act of 1976. Talent
acknowledges that he has entered this agreement before commencing performance of
the services he has been engaged to perform hereunder. In the event the Work is
deemed not to be a work made for hire, then Talent hereby assigns to DC all
rights in the Work, effective as of the date of creation of such Work, including
copyright and any renewals, extensions or revivals thereof and trademark rights,
and all other rights to exploit the Work, in all media now or hereafter
existing, throughout the world in perpetuity. Upon DC's request, Talent shall
execute any additional documents necessary to evidence this assignment. DC shall
also have the right, but not the obligation, to use Talent's name, Lee's
approved likeness and Lee's approved biographical information in connection with
the Work and the advertising, promotion, and/or publicity therefor. The
inadvertent failure by DC to secure Lee's approval of his likeness or
biographical information hereunder shall not be a material breach of this
Agreement.

                                       3
<PAGE>   4

        (b) Talent acknowledges that the Work shall be derivative of
pre-existing material including, without limitation, the names and pictorial and
literary representations of fictional characters, companies, places and things
(the "Preexisting Material"); that DC owns or otherwise has rights in the
Preexisting Material; that Talent would be unable to produce the Work without
the Preexisting Material; and (iv) that Talent shall not have, acquire or claim
right or privilege to use any of the Preexisting Material except as provided
herein or as DC otherwise consents in writing. Talent further acknowledges that
DC may and regularly does assign, and has assigned, other artists, writers and
creators to do work based upon or incorporating the Preexisting Material and/or
related properties and that if any similarities appear between such other
artists, writers or creators' work and the Work it shall be purely coincidental
since both will have been based on the Preexisting Material. Talent hereby
waives any claim(s) for royalties or consideration of any kind or otherwise in
connection with any such similar works.

5.      Incapacity; Force Majeure; Default:

        (a) If Talent does not comply with its obligations hereunder by reason
of illness, incapacity or disability ("Incapacity"), DC may suspend the Services
hereunder and if such Incapacity continues for a period or periods aggregating
three (3) months, DC may terminate Talent's engagement hereunder.

        (b) If publication of the Work shall be prevented or interrupted because
of "force majeure" (i.e. any unexpected or disruptive event sufficient to excuse
performance hereof as a matter of law), DC may suspend the Services hereunder
and if any such force majeure event should exceed three (3) months , DC may
terminate Talent's engagement hereunder.

        (c) If Talent fails to perform Talent's obligations hereunder other than
by reason of Incapacity or Force Majeure, and Talent shall fail to remedy such
situation within thirty (30) days of written notice from DC, DC may terminate
Talent's engagement hereunder, and DC shall have the right, but not the
obligation, to engage another writer or writers to complete the Work. In such
event: (i) DC may reduce the royalties payable to Talent pursuant to paragraph 2
above for any Issues, the Scripts for which Talent started but did not complete,
by such amounts that DC has agreed to pay any other writer(s) engaged to
complete such Scripts; (ii) DC shall have no obligation to pay Talent any
compensation for any Issues for which Talent shall have not written the Scripts
hereunder; and (iii) for any Collected Edition(s), Licensed Reprint Edition(s)
and/or licensed or promotional use(s) of the Work, DC shall pay Talent based on
DC's pro-rata allocation among the final contributions made by Talent and by
such other writer(s) of the Work. Notwithstanding the foregoing, upon Talent's
receipt of written notice from DC as set forth above, Branded may propose to
remedy the situation by itself engaging another writer or writers to complete
the Scripts. In the event DC desires to complete the Work and shall approve of
Branded's proposed writer or writer(s), Talent shall engage such writers to
complete the Scripts pursuant to agreements approved by DC in advance in
writing, and DC's obligations to pay Talent as set forth herein shall remain in
full force and effect.

                                       4
<PAGE>   5

6.      Original Characters:

        (a) In the event Talent introduces into the Work any fictional character
that qualifies as an "Original Character" as defined below, DC shall pay Talent
additional compensation for certain uses of such Original Character by DC in
accordance with Schedule C hereto. Notwithstanding anything to the contrary
herein or in Schedule C hereto, in the event that the terms of this Agreement
and/or the Schedules hereto can be construed or interpreted as entitling Talent
to compensation for both the use of the Work and the use of an Original
Character based on the same publication, retail product or licensed use, Talent
shall be entitled only to the applicable compensation due to him from the use of
the Work and not the Original Character.

        (b) As used herein an "Original Character" shall mean a newly created
character first appearing in the Work that meets the following criteria:

               (i) The character must have an original name that is not derived
from the name, nickname or any other identifier of any pre-existing DC character
or any other fictional element or property pre-existing in the "DC Universe" as
such term is commonly understood in the comic book industry;

               (ii) The character must possess one or more original powers that
are not derived from, identical to or substantially, materially or confusingly
similar to any powers possessed by any pre-existing DC characters, it being
understood that possessing some powers similar to powers possessed by other DC
character(s) shall not disqualify a character from being deemed an Original
Character so long as such character possesses original powers in addition to
such pre-existing powers;

               (iii) The character must wear an original costume that is not
derived from, identical to or substantially, materially or confusingly similar
to any costume worn at any time by any pre-existing DC characters, it being
understood that the use of any elements common to comic book characters'
costumes or apparel in general, such as a cape, boots or a mask, shall not
disqualify a character from being deemed an Original Character;

               (iv) The character must fulfill an essential role in the plot
development and storyline of the Work, and such role must not presently exist in
the DC Universe. For example, a new Police Commissioner of Gotham City, a new
girlfriend of Superman, or a new Editor of the Daily Planet would not satisfy
this criteria; and

               (v) The character must otherwise not be derivative of any past or
present DC characters, elements, or properties from DC mythology.

        (c) DC shall determine whether a character first appearing in the Work
shall qualify as an Original Character in its sole good faith reasonable
discretion. In making such determination, DC shall give Talent the opportunity
to explain why Talent maintains such character should be treated as an Original
Character.

        (d) DC acknowledges that satisfying the criteria necessary for a
character to qualify as an Original Character is a difficult test to meet. In
recognition thereof, DC agrees that if a character introduced into the Work by
Talent does not satisfy all of the Original Character criteria, but such

                                       5
<PAGE>   6

character, in DC's sole good faith discretion, nevertheless meets the criteria
set forth below, DC shall pay Talent royalties on DC's exploitation of such
character calculated at a rate of twenty percent (20%) of the basic applicable
royalty rates for an Original Character as set forth in Schedule C hereto. A
character not qualifying as an Original Character hereunder may qualify for a
reduced royalty as set forth herein if it meets the following criteria:

               (i) The character, including the name(s), costume, powers,
profession as may be applicable, literary and visual depictions thereof,
alter-ego as may be applicable, abstract personality traits, mannerisms, origin,
and background, must be sufficiently developed, concrete and distinctive such
that the character could readily be used as a lead character in another work of
fiction without significant additional character development;

               (ii) The character must fulfill an essential role in the plot
development and storyline of the Work;

               (iii) If all of the DC Universe-derived aspects of the character
were removed, the character would remain a whole, concrete and distinct
character that would be essentially the same character that appeared in the Work
even though such character might lack a name and/or some distinctive attire; and

               (iv) No other comic book writer, artist (other than Talent's
collaborating artists in such character, if any) or creator shall have any
interest in, or colorable claim of creator credit, in whole or in part, in or to
such character.

7.      Discount Sales to Talent: For a period commencing as of DC's initial
publication of the first Issue of the Work and ending twelve (12) months after
DC's initial publication of the last Issue of the Work, DC shall offer Talent
the opportunity to purchase from DC all DC publications comprising or based on
the Work and all Retail Products based on the Work, if any, subject to
availability and to such reasonable limitations as DC may impose, at such prices
below wholesale as the parties shall mutually determine. Talent shall use all
publications and Retail Products purchased by Talent hereunder solely for resale
as collectibles through a single website owned and operated by Talent. The
depiction of any DC properties on such website shall be in accordance with DC's
standard website guidelines.

8.      Sequels and Prequels:

        (a) In the event that DC, at any time, desires to publish a "Sequel", DC
shall give Talent, by written notice, the first option to write such Sequel on
substantially the same terms and conditions hereof. As used herein, the term
"Sequel" shall mean a comic book series featuring the same universe as portrayed
by Talent and/or all or some of the major characters as interpreted by Talent in
the Work and shall include both sequel and prequel storylines.

        (b) Talent shall exercise its option hereunder by giving written notice
to DC of its desire to write the Sequel within thirty (30) days of Talent's
receipt of written notice from DC of DC's desire to publish such Sequel.

        (c) If Talent is unable to or declines to write the Sequel or if Talent
fails to notify DC of its desire to write the Sequel within said thirty (30) day
period, DC shall be free to engage any third

                                       6
<PAGE>   7

party to write the Sequel subject to the following:

               (i) Talent, or Talent's representative, as the case may be, shall
have the right to withhold the use of Lee's name, the Title, and any other name
or title that derives from Lee's name or the Title, as the title or part of the
title of the Sequel. Talent, or Talent's representative, shall exercise such
right, if at all, by giving DC written notice of its exercise of such right
within thirty (30) days of: (A) the date Talent declines to write the Sequel, if
applicable; or (B) Talent's receipt of DC's written notice of DC's desire to
publish a Sequel if Talent is unable to write the Sequel. In such event, DC
shall be free to use any and all other elements of the Work in the Sequel
without any consideration due to Talent except as may be otherwise provided in
paragraph 6 above.

               (ii) If DC uses Lee's name, the Title or any other name or title
that derives from Lee's name or the Title as the title or part of the title of
the Sequel, DC shall pay Talent royalties on its exploitation of the Sequel
calculated at a rate of thirty three and one-third percent (33 1/3%) of the
basic applicable royalty rates for the Work as set forth in Schedules A and B to
this Agreement.

               (iii) Talent shall be deemed to be unable to write the Sequel if
Lee is not able to render the services set forth in paragraph 1 above.

        (d) In the event DC desires to publish one or more further Sequel(s) to
the Work, DC shall give Talent, by written notice, the first option to write any
such Sequel(s) on substantially the same terms and conditions hereof, provided,
however, that Talent shall have written the immediately preceding Sequel to the
Work.

        (e) Talent shall exercise its option hereunder by giving written notice
to DC of its desire to write such further Sequel within thirty (30) days
following Talent's receipt of written notice from DC of DC's desire to publish a
such further Sequel.

        (f) If Talent is unable to or declines to write any further Sequel or if
Talent fails to notify DC of its desire to write any Sequel within said thirty
(30) day period, DC shall be free to engage any third party to write such Sequel
and any subsequent Sequel subject to the following:

               (i) Talent shall have the right to withhold the use of Lee's
name, the Title, and any other name or title that derives from Lee's name or the
Title, as the title or part of the title of the applicable Sequel. Talent, or
Talent's representative, shall exercise such right, if at all, by giving DC
written notice of its exercise of such right within thirty (30) days of: (A) the
date Talent declines to write the such Sequel, if applicable; or (B) Talent's
receipt of DC's written notice of DC's desire to publish such additional Sequel
if Talent is unable to write the second Sequel. In such event, DC shall be free
to use any and all other elements of the Work in the additional Sequel without
any consideration due to Talent except as may be otherwise provided in paragraph
6 above;

               (ii) If DC uses Lee's name, the Title, or any other name or title
that derives from Lee's name or the Title as the title or part of the title of
the additional Sequel, and:

                        (A) Talent shall have elected not to write such Sequel
                even though Lee was, at such time, still writing professionally
                on a continuing basis, DC shall pay Talent royalties on its
                exploitation of such Sequel calculated at a rate of thirty three
                and one-third percent (33 1/3%) of the basic applicable royalty
                rates for the Work as set

                                       7
<PAGE>   8

                forth in Schedules A and B to this Agreement; or

                        (B) Talent shall have not written such Sequel because
                Lee had, at such time, ceased writing professionally, DC shall
                pay Talent royalties on its exploitation of such Sequel
                calculated at a rate of fifty percent (50%) of the basic
                applicable royalty rates for the Work as set forth in Schedules
                A and B to this Agreement.

        (g) Notwithstanding the foregoing, DC shall have no obligation to
publish any Sequels to the Work.

        (h) DC shall have the right to use elements of the Work and/or any
Sequel thereto in any DC publication that does not use Lee's name without
further consideration to Talent except to the extent DC may be obligated to pay
Talent consideration pursuant to paragraph 6 above.

        (i) Talent acknowledges that his option rights to write Sequels
hereunder shall apply only to comic book series, and shall not apply to prose
novels, novelizations of comic book storylines, television productions, motion
pictures or any other media productions of the Work.

        (j) DC agrees that even if Lee is unable to l write a Sequel for any
reason or if Talent no longer has the option to write any Sequels hereunder at
such time as DC desires to publish a Sequel hereunder, DC shall nevertheless
give Talent written notice of its desire to publish such Sequel. Such notice
shall trigger Talent's right to withhold the use of Lee's name, the Title, and
any other name or title that derives from Lee's name or the Title pursuant to
paragraph 8(c)(i) or 8(f)(ii), respectively.

9.      Internet Productions: In the event that DC desires to produce any
version of the Work for display, access and use online, beyond routine
promotional uses of the Work, and for which DC determines it must engage a
freelance writer(s), artist(s) or web page producer(s) or designers, DC shall
offer SLM the first opportunity to negotiate with DC to secure such engagement.
DC may limit the time period for such negotiation to be concluded as DC may
determine is appropriate in DC's sole good faith discretion, provided in no
event shall DC limit such negotiation period to less than five (5) business
days. In the event the parties shall fail to reach an agreement within the
applicable time period, DC shall be free to engage any third party to render the
applicable services hereunder, provided, however, that DC shall, if DC
determines it is appropriate in DC's sole discretion, offer Talent the
opportunity to better any offer received by DC from any third party to render
the applicable services.

10.     Crossover Publications:

        (a) In addition to Sequels, DC shall give due consideration to the
possibility of publishing crossover series with other publishers based on the
Work and other character universes created by Talent including those created by
Talent for SLM and/or Marvel Comics (a "Crossover").

        (b) In the event that DC arranges to co-publish any such Crossover with
the respective third party owner of the character universe created by Talent DC
shall, subject to DC's agreement with such third party owner, give Talent, by
written notice, the first option to negotiate with DC to write the Crossover.

                                       8
<PAGE>   9

        (c) Talent shall exercise its option hereunder by giving written notice
to DC of its desire to write the Crossover within thirty (30) days of Talent's
receipt of written notice from DC of DC's desire to publish a Crossover. The
parties shall then negotiate in good faith the terms and conditions upon which
Talent shall write the Crossover - it being understood that the economic terms
of this Agreement shall not serve as precedent for any such deal.

        (d) If DC and Talent shall fail to reach an agreement pursuant to which
Talent shall write the Crossover within thirty (30) days following DC's receipt
of written notice from Talent of Talent's desire to write the Crossover, or if
Talent is unable to write the Crossover or fails to respond to DC's written
notice of DC's desire to co-publish a Crossover within thirty (30) days of
Talent's receipt thereof, DC shall be free to engage any third party to write
the Crossover, subject to the following:

               (i) Talent shall have the right to withhold the use of Lee's
name, the Title, and any other name or title that derives from Lee's name or the
Title, as the title or part of the title of the Crossover. Talent, or Talent's
representative, shall exercise such right, if at all, by giving DC written
notice of its exercise of such right within thirty (30) days of: (A) the date
Talent declines to write the Crossover; or (B) the date the parties otherwise
determine that Talent will not write the Crossover. In such event, DC shall be
free to use any and all other elements of the Work in the Crossover without any
consideration due to Talent;

               (ii) If DC uses Lee's name, the Title, or any other name or title
that derives from Lee's name or the Title as the title or part of the title of
the Crossover, and:

                        (A) Talent shall have not written the Crossover even
                though, at such time, Lee was still writing professionally on a
                continuing basis, DC shall pay Talent royalties on its
                exploitation of the Crossover calculated at a rate of thirty
                three and one-third percent (33 1/3%) of the basic applicable
                royalty rates for the Work as set forth in the Schedules A and B
                to this Agreement, as such rates may be pro-rated to account for
                the other publisher's interest in the Crossover; or

                        (B) Talent shall have not written the Crossover and Lee
                shall have ceased writing professionally at the time DC shall
                have engaged a writer to write the Crossover, DC shall pay
                Talent royalties on its exploitation of the Crossover calculated
                at a rate of fifty percent (50%) of the basic applicable royalty
                rates for the Work as set forth in Schedules A and B to this
                Agreement, as such rates may be pro-rated to account for the
                other publisher's interest in the Crossover; and

               (iii) Notwithstanding anything to the contrary herein, DC agrees
that it shall not co-publish any Crossover based on the Work and Marvel-owned
properties without Talent's prior written consent. Talent may condition such
consent on securing the right to write such Crossover on the same or better
terms as the terms set forth in this Agreement.

11.     Publication: It is the express intent of the parties that DC publish the
Work as described above. Notwithstanding the foregoing, DC's failure to publish
all or any of the Work shall not be deemed to be a material breach of this
Agreement.

12.     Credits and Author's Copies:

                                       9
<PAGE>   10

        (a) DC agrees to accord Lee credit as writer of the Work on the cover
and credits page of each edition of the Work published by DC in a manner
consistent with DC's current credit practices and to accord Uslan credit in
substantially the following form "Project Initiated By Michael Uslan" or a
similar descriptive term on the credits page of each edition of the Work
published by DC in substantially the same size and style type as Lee's credit
and otherwise in such manner as DC deems appropriate. DC shall require by
contract that any licensee of DC include similar credit provisions in any
licensed edition of the Work. DC shall accord Lee and Uslan similar credits on
Sequels published by DC where applicable.

        (b) DC shall use reasonable efforts to accord, or cause its licensees to
accord, Lee and Uslan credits comparable to the credits set forth in the
preceding paragraph in connection with motion pictures, television productions,
direct-to-video productions, and Internet productions based on the Work as well
as other licensed uses of the Work where such credits are usual and customary
(but not on merchandise such as toys, games and clothing).

        (c) Upon publication of the Work, DC agrees to provide Talent
collectively with one hundred (100) copies of each Issue and collected edition
of the Work free of charge, as follows: seventy-five (75) copies directly to Lee
and twenty-five (25) copies directly to Branded.

13.     Audit Rights: Talent may audit the books and records of DC solely in
order to verify statements issued to Talent hereunder. Any such audit shall be
at Talent's expense; provided, that if the audit reveals underpayments in excess
of ten percent (10%) DC shall reimburse Talent the reasonable costs thereof. Any
audit shall be conducted only upon reasonable notice by a certified public
accountant during regular business hours at DC's offices and in such manner as
not to interfere with DC's normal business activities. In no event shall an
audit with respect to any statement start later than twenty-four (24) months
after the date of that statement nor shall any audit continue for longer than
ten (10) consecutive business days, nor shall audits be made more frequently
than twice a year, nor shall the books and records supporting any statement be
audited more than once. All statements shall be binding upon Talent and not
subject to any claims or proceedings unless objection is made in writing stating
the basis thereof and delivered to DC within twenty-four (24) months of the date
of the statement to which objection is made, or if an audit is started within
that period, then within thirty (30) days of the completion of that audit.

14.     Notices: All notices or payments which Talent may wish to serve or may
be required to serve on DC hereunder shall be in writing and shall be sent
prepaid by any receipted form of delivery at the address set forth above (or to
such other address as DC may specify by notice duly given); and, except as
otherwise provided in paragraph 1(f) above, all notices or payments which DC may
wish to serve or may be required to serve on Talent hereunder shall be in
writing and shall be sent to Branded prepaid by any receipted form of delivery
at the address set forth above (or to such other address as Branded may specify
by notice duly given) with a copy to Ziffren, Brittenham, Branca & Fischer LLP,
1801 Century Park West, Los Angeles, CA 90067-6406 (Attention Gary Stiffelman).
Notices shall be deemed given on the date of mailing thereof or if made by
personal delivery on the date thereof.

15.     Time Warner Companies: In the normal course of its operations, DC does
business on an arm's length basis with other companies either wholly or
partially controlled by DC's corporate parent, Time Warner Inc. (the "TWI
Companies"). Talent agrees that DC may do business with
TWI Companies with respect to the Work and Talent shall not challenge such
dealings solely or

                                       10
<PAGE>   11

mainly on the basis of the Companies' affiliation.

16.     Miscellaneous:

        (a) A waiver of any provision of this Agreement in any instance shall
not be deemed a waiver of such provision for the future, nor of any subsequent
breach thereof.

        (b) In the event of any breach of this Agreement or any portion thereof
by DC, Talent's sole remedy shall be an action at law for damages, if any. In no
event shall Talent have the right to injunctive relief or to enjoin or restrain
or otherwise interfere with the publication or distribution of any materials
prepared hereunder or the exercise of any rights granted to DC herein and under
no circumstances shall any such breach entitle Talent to any reversion of
termination of DC's rights under this Agreement. In the event of any breach of
this Agreement or any portion thereof by Talent, DC's sole remedy shall be as
expressly set forth in this Agreement and/or shall be an action at law for
damages, if any. In no event shall DC have the right to injunctive relief to
force Talent to render any services for DC hereunder.

        (c) This Agreement shall be governed by and construed in accordance with
the laws of the State of New York applicable to agreements executed and fully
performed therein. New York courts (state and federal) only will have
jurisdiction over the parties and any controversies regarding this agreement;
any action or proceeding which involves such a controversy will be brought only
in those courts, in New York County. In the event that any provision hereof
violates any present or future statute, law, ordinance or regulation, the latter
shall prevail and the Agreement shall be deemed modified to the extent required
by such statute, law, ordinance or regulation.

ACCEPTED AND AGREED:                      DC COMICS

By: /s/ Stan Lee                          By: /s/ Paul Levitz
   -------------------------------           -----------------------------------
   Stan Lee                                  Paul Levitz
                                             Executive Vice President
                                             and Publisher

STAN LEE MEDIA, INC.

By: /s/ Gill Champion
   -------------------------------------------

Title: Vice President/Chief Operating Officer
      ----------------------------------------

BRANDED ENTERTAINMENT LLC

By: /s/ Michael Uslan
   -----------------------------------
   Michael Uslan

                                       11
<PAGE>   12

                                   SCHEDULE A
                       ROYALTY PROVISIONS FOR DC EDITIONS

1. Definitions: Reference is made to the agreement to which this Schedule is
attached (the "Agreement"). Except as expressly set forth in this Schedule, all
defined terms in the Agreement shall have the same meanings when used herein.
For purposes of this Schedule A, the following definitions shall apply:

        (a) "NET SALES" means DC's actual sales through its wholesale and retail
distribution channels of copies of DC publications and/or units of Retail
Products sold by DC, less: returned copies or units; damaged and/or lost copies
or units; and copies or units distributed as premiums or promotional materials
(such promotional materials to include but not be limited to the Work or
excerpts therefrom when used to promote, publicize and/or advertise the Work, DC
or DC's properties in general, and given away by DC to the trade or the public),
or copies or units sold to uncollectible accounts; or copies sold at discounts
in excess of seventy percent (70%) of cover price. Sales of additional printings
of any publication following its first printing, shall count as additional sales
of such publication.

        (b) "ENTIRE STORY CONTENT" means one work occupying all of the story
content of a publication or retail product.

2. For publications: DC shall pay Talent a royalties as follows:

        (a) On DC's sale of any Issue:

        5.0% of the cover price on Net Sales of the first 200,000 copies of such
        Issue; and 6.0% of the cover price on Net Sales of such Issue in excess
        of 200,000 copies.

        (b) On DC's sale of any Collection:

        5.0% of the cover price on Net Sales of the first 100,000 copies of such
        Collection; and 6.0% of the cover price on Net Sales of such Collection
        in excess of 100,000 copies.

        (c) On DC's sale of any other DC publication based on the Work such as
any DC-published original novel or novelization or a companion guide or a Who's
Who character reference to the Work:

        5.0% of the cover price on Net Sales of such publication.

3. For Retail Products:

        (a) With respect to any Retail Product based solely on the Work, DC
shall pay Talent a royalty of five percent (5%) of DC's Net Sales.

        (b) With respect to any Retail Product under this paragraph not based
solely on the Work, see paragraph 5 below.

                                       12
<PAGE>   13

4. Multiple formats: If the Work is published by DC in more than one format at
or about the same time, each with a different cover price, the Net Sales of the
initial print run of the format with the lower cover price shall be applied
toward the 200,000 copy threshold before Net Sales of the initial print run of
the format with the higher cover price shall be applied thereto.

5. Multiple works:

        (a) General Rule: In the event that the Work is not the Entire Story
Content of a publication or the sole material on which a Retail Product is
based, DC shall pay Talent that proportion of royalties which the Work shall
bear to the Entire Story Content of the publication or that proportion of
royalties which the material from the Work on which a Retail Product is based
shall bear to the Retail Product as a whole, except as provided in paragraph
5(b) below.

        (b) Minimum Royalty Rate for Use in Multiple Work: If the Work comprises
less than twenty-five percent (25%) but no less than ten percent (10%) of the
Entire Story Content of a publication or the material on which a Retail Product
is based, DC shall either first obtain Talent's consent, which shall not be
unreasonably withheld, or DC shall pay Talent the "Minimum Royalty Rate." As
used herein, "Minimum Royalty Rate" shall mean twenty-five percent (25%) of the
total royalties that Talent would receive if the Work constituted the Entire
Story Content of a publication or the sole material on which a Retail Product is
based. In the event DC obtains Talent's consent hereunder, DC shall pay Talent a
royalty calculated in accordance with paragraph 5(a) above.

        (c) De Minimus uses: If the Work comprises less than ten percent (10%)
of the Entire Story Content of a publication or the material on which a Retail
Product is based, DC shall pay Talent that proportion of royalties which the
Work shall bear to the Entire Story Content of the publication or that
proportion of royalties which the material from the Work on which a Retail
Product is based shall bear to the Retail Product as a whole.

        (d) Approval for Publication in Anthologies including other works:
Notwithstanding the foregoing, DC shall not reprint any Issue(s) or Collections
in an anthology or other collection of work that includes any publication other
than the Work or Sequel(s) to the Work without Talent's prior written approval,
which approval shall not be unreasonably withheld, delayed or conditioned.
Nothing herein, however, shall prohibit DC from: (i) reprinting excerpts from
the Work in other publications such as, without limitation, collections of art,
cover collections, or historical or scholarly works of non-fiction (e.g. books
about the history of DC Comics); or (ii) permitting international licensees from
publishing any Issue(s) or Collections in anthologies or other collections of
work including other publications.

6. Payments: For any publication or Retail Product sold by DC hereunder for
which DC assigns a "Final Sale" date, DC shall make any payment due under this
Schedule A not later than sixty (60) days after DC shall determine the "Final
Sale" of the respective publication or Retail Product. For publications or
Retail Products sold on a non-returnable basis only the Final Sale, if
applicable, shall be determined by DC not later than sixty (60) days after the
last announced on sale date for such publication or Retail Product. For
publications or Retail Products sold on a returnable basis, the Final Sale shall
be determined by DC not later than eight (8) months after the last announced off
sale date for such publication or Retail Product. For publications or Retail
Products sold primarily on a non-returnable basis but with returnable
distribution to retail chains, DC shall determine the

                                       13
<PAGE>   14
Final Sale on the returnable distribution not later than eight (8) months after
each the announced on sale date of such publication or Retail Product. DC shall
make all payments due for any sales of any publication or Retail Product under
this Schedule A for which DC does not assign a Final Sale date on a quarterly
basis not later than ninety (90) days after the end of each quarter, provided,
however, that if any payment otherwise due Talent hereunder shall be in a sum of
less than fifty dollars ($50.00), DC may delay such payment until payments due
Talent hereunder shall total fifty dollars ($50.00).

                                       14
<PAGE>   15

                                   SCHEDULE B
                             LICENSED USE ROYALTIES

1. Definitions: Reference is made to the agreement to which this Schedule is
attached (the "Agreement"). Except as expressly set forth in this Schedule, all
defined terms in the Agreement shall have the same meanings when used herein.
For purposes of this Schedule B, the following definitions shall apply:

          (a)    LICENSED REPRINT EDITION: Any Work originally published by DC
                 which is reprinted in whole or in part, in any format, in any
                 language, released for sale through any distribution system by
                 a third party under license with DC that grants such party the
                 rights to publish and sell such edition anywhere in the world.

          (b)    NET RECEIPTS: All amounts actually received by DC in United
                 States Dollars (i.e. less any unrecouped foreign taxes, import
                 duties and/or currency exchange losses) from the licensing of
                 rights to the Work less, and bad debts and less all direct
                 costs incurred by DC. Notwithstanding the foregoing, with
                 respect to Licensed Reprint Editions only, direct costs shall
                 not include agency commissions, which shall be borne entirely
                 by DC.

2. Schedule of Payments:

        (a) For each Licensed Reprint Edition of a Work which is distributed for
sale to the public, Talent shall be entitled to receive an amount equal to
Twenty Percent (20%) of DC's Net Receipts derived therefrom.

        (b) For all licensed uses of the Work, other than as Licensed Reprint
Editions, including Lee's name or the Title, or any other name or title that
derives from Lee's name or the Title, Talent shall be entitled to receive an
amount equal to ten percent (10%) of DC's Net Receipts derived therefrom.

        (c) Any advance against royalties paid to DC by a licensee shall be
considered received by DC when such amount is or becomes non-returnable.

        (d) In the event that multiple works or multiple DC properties shall be
featured in any licensed use hereunder (and thereby have mixed Net Receipts) the
sums due hereunder shall be based on a pro-rata allocation by DC among all
respective works or DC properties.

3. Payments: DC shall make all payments due under this Schedule B on a quarterly
basis not later than ninety (90) days after the end of each quarter, provided,
however, that if any payment otherwise due Talent hereunder shall be in a sum of
less than fifty dollars ($50.00), DC may delay such payment until payments due
Talent hereunder shall total fifty dollars ($50.00). Upon Talent's written
request, DC shall nevertheless issue Talent an accounting for any such quarter.

                                       15
<PAGE>   16

                                   SCHEDULE C
                          ORIGINAL CHARACTER ROYALTIES

Reference is made to the agreement to which this Schedule is attached (the
"Agreement"). Except as expressly set forth in this Schedule, all defined terms
in the Agreement shall have the same meanings when used herein.

1.      Original Publications: For each print publication published by DC for
sale to the general public which uses the Original Character's name as its title
or in its title (e.g. The Adventures of [Character Name]) and which features the
Character substantially as expressed in the Work) (a "New Work"), DC shall pay
Talent an amount equal to one percent (1.0%) of the cover price of the New Work
on Net Sales of such New Work.

As used herein, Net Sale(s) shall mean the number of copies or units which are
actually sold by DC through DC's wholesale and retail distribution channels less
the number of copies or units which are returned, damaged, lost, distributed by
DC as premiums or promotions and/or distributed to uncollectible accounts or
sold at discounts in excess of seventy percent (70%) of cover price. Sales of
additional printings of any Work following its first printing shall be accounted
for as additional sales of such Work.

2.      Retail Products and Services: For each product other than a Work and/or
for each service produced by DC and distributed or rendered by DC itself for
sale to the public (and not by a licensee of DC) through DC's wholesale and
retail distribution channels (a "Retail Product or Service") which is based upon
an Original Character, Talent shall be entitled to receive an amount equal to
five percent (5%) of DC's Net Sales.

3.      Licensed Uses:

        (a) For each Licensed Reprint Edition of a New Work which is distributed
for sale to the public, Talent shall be entitled to receive an amount equal to
Ten Percent (10%) of DC's Net Receipts derived therefrom.

        (b) For all licensed uses of an Original Character, other than in
Licensed Reprint Editions of New Works, Talent shall be entitled to receive an
amount equal to twenty-five percent (25%) of DC's Net Receipts derived
therefrom.

"Net Receipts" shall mean all amounts actually received by DC in United States
Dollars from the licensing of rights to the Character, less any unrecouped
foreign taxes, import duties and/or currency exchange losses, and less all
direct costs incurred by DC. Notwithstanding the foregoing, with respect to
Licensed Reprint Editions only, direct costs shall not include agency
commissions, which shall be borne entirely by DC. Any advance against royalties
paid to DC by a licensee shall be considered received by DC when such amount is
or becomes non-returnable.

8.      Contingencies Affecting Royalties: In the event that DC determines that
any one of the following contingencies apply, then the royalties payable
hereunder may be reduced as follows.

                                       16
<PAGE>   17

        (a) Spin-Offs: In the event that DC uses or licenses the use of a
version of an Original Character that DC determines (i) consists primarily or
only of "Spin-Off Elements"; and (ii) is published under a substantially
different title than the Original Character's name (if published under any
title) or is not substantially as originally created and written or drawn by
Talent, then DC shall pay Talent royalties based upon DC's pro rata allocation
of the amounts set forth in paragraph above among all elements used as created
by Talent and all Spin-Off elements. The foregoing allocation (and all other
allocations) made by DC pursuant to this agreement shall be made in good faith
in DC's sole discretion.

        As used herein, "elements" shall include without limitation characters,
stories, themes, titles, names, logos, devices, designs, locales, scripts,
artwork, and any portion of the foregoing. "Spin-Off Elements" shall mean
elements either (i) not created by Talent; or (ii) originally created by Talent
and later substantially changed or developed by another party.

        (b) Commingling of Elements: In the event that DC uses or licenses the
use of an Original Character, or any element thereof, in combination and/or in
conjunction with any other property, including other characters, then DC shall
pay Talent royalties based upon DC's pro rata allocation of the amounts set
forth above among all such elements. Notwithstanding the foregoing, no royalties
shall be due for any Minor Use of an Original Character. As used herein, Minor
Use shall mean a use of an Original Character in another property, as in, for
example, multi property crossovers, guest appearances, occasional team-ups,
cameos and "Who's Who" or other index type listings, as those terms are commonly
used in the comic book industry.

        (c) It is understood and agreed that in the event that the terms of the
Agreement to which this Schedule is attached and/or this Schedule C can be
construed or interpreted as entitling Talent to compensation for both the use of
the Work, as defined in the Agreement, and the use of an Original Character
based on the same publication, retail product or licensed use, Talent shall be
entitled only to the applicable compensation due to him from the use of the
Work, and in connection therewith, nothing in this Schedule C may be used to
reduce the royalties payable to Talent for the use of the Work as otherwise
provided in the Agreement and Schedules A and B to the Agreement.

                                       17

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