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                                                                 EXHIBIT 10.4(b)

                                LICENSE AGREEMENT

     This License Agreement is made by and between Cinemark USA, Inc., a Texas
corporation ("Licensor"), and Cinemark Partners II, Ltd. ("Licensee").

     WHEREAS, the Licensor is the proprietor of the "Cinemark" service mark,
name and corresponding logos and insignias (hereinafter collectively referred to
as the "Mark"); and

     WHEREAS, Licensee is a Texas limited partnership formed to acquire and hold
for operating income and appreciation that parcel of land upon which a motion
picture exhibition theatre shall be located at the southwest corner of
Interstate Highway 635 and Webbs Chapel Road to be managed by Licensor as a
motion picture exhibition theatre (the "Theatre Property") in Dallas, Texas; and

     WHEREAS, it is the desire and intention of the parties that the Licensee be
permitted to use the Mark at the Theatre Property in Dallas, Texas (hereinafter
referred to as the "Territory") in connection with the acquisition and ownership
of the Theatre Property by Licensee.

     NOW, THEREFORE, in consideration of the above and other valuable
consideration, the parties hereto hereby agree as follows:

     1. Grant of License. Licensor hereby grants to Licensee and Licensee hereby
accepts from Licensor, in accordance with the following terms and conditions,
the royalty free, non-exclusive, personal and nontransferable right and license
to use the Mark in the Territory solely in connection with the acquisition and
ownership of the Theatre Property by Licensee. Nothing contained herein shall
prohibit or otherwise limit the ability of the Licensor to use or license the
Mark within the Territory including any use or license which may compete
directly with Licensee.

     2. Use of the Mark and Nature and Quality of Services.

     (a) Licensee shall use and display the Mark as prescribed by, and shall
maintain the reasonable standards and specifications of the nature and quality
of services which are established by, Licensor for the purpose of maintaining
substantial consistency between the use of the Mark and the services offered
thereunder by Licensee and others permitted to use the Mark.

     (b) Licensee shall permit duly authorized representatives of the Licensor
to inspect on the premises of the Licensee at all reasonable times, the nature
and quality of the services, as well as the mode and manner by which the Mark is
being used and displayed, for the purpose of ascertaining or determining
compliance with subparagraph 2(a) hereof.

     (c) Cancellation of Licensee's right to use the Mark shall be the only
remedy for Licensee's noncompliance with the provisions, of subparagraphs 2(a)
and 2(b), and then only after Licensee is given written notice of its
noncompliance and at least ninety (90) days in which to cure such noncompliance
and avoid cancellation.

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     3. Extent of License. The right granted in Paragraph 1 hereof shall not be
transferable without the Licensor's prior written consent and Licensor shall not
be obligated to transfer the Mark to any subsequent purchasers of the Theatre
Property, provided, however, that the Licensee shall have the right to use the
Mark in the Territory for the purpose of exercising the rights granted
hereunder.

     4. Maintenance of Mark. The Licensor will use reasonable efforts to
register and maintain, or cause to be registered and maintained, the Mark in the
Territory.

     5. Indemnity. The Licensor assumes no liability to the Licensee or to third
parties with respect to the acquisition and ownership of the Theatre Property by
Licensee, and the Licensee hereby indemnifies and holds harmless the Licensor
against all losses, damages and expenses, including attorneys fees, incurred as
a result of or related to claims of third persons arising out of Licensee's
activities.

     6. Effective Date and Term. The effective date of this License Agreement is
September 1, 1994: This License Agreement shall continue in force and effect
until such date that Licensor ceases for any reason to be the management agent
of the Theatre Property for Licensee, unless sooner terminated as provided for
herein.

     7. Termination. Subject to the provisions of Paragraph 2(c) hereof, should
the Licensee breach its obligations under Paragraph 8 hereof, the Licensor may
terminate this Agreement upon 30 days' written notice to the Licensee, provided
that the Licensee has not corrected such default during the notice period.

     8. Ownership of Mark. The Licensee acknowledges the Licensor's exclusive
right, title and interest in and to the Mark and will not at any time do or
cause to be done any act or thing contesting or in any way impairing or tending
to impair any part of such right, title and interest. In connection with the use
of the Mark, the Licensee shall not in any manner represent that it has any
ownership in the Mark or registration thereof, and the Licensee acknowledges
that use of the Mark shall not create in the Licensee's favor any right, title
or interest in or to the Mark, but all use of the Mark by the Licensee shall
inure to the benefit of the Licensor. Upon termination of this Agreement in any
manner provided herein, the Licensee will cease and desist from all use of the
Mark in any way, and the Licensee shall at no time adopt or use, without the
Licensor's prior written consent, any mark which is likely to be similar to or
confusing with the Mark.

     9. Notices. Any notices required or permitted to be given under this
Agreement shall be deemed sufficiently given if mailed by registered mail,
postage prepaid, addressed to the party to be notified at the following
addresses:

        If to Licensor:   Cinemark USA, Inc.
                          Suite 800, LB-9
                          7502 Greenville Avenue
                          Dallas, Texas 75231
                          Attention: Michael D. Cavalier

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        If to Licensee:   Cinemark Partners II, Ltd.
                          c/o Cinemark Partners I, Inc.
                          General Partner
                          Suite 800, LB-9
                          7502 Greenville Avenue
                          Dallas, Texas 75231
                          Attention: Lee Roy Mitchell

or at such other address as may be substituted by written notice given as herein
provided.

     10. GOVERNING LAW. IT IS AGREED THAT THIS LICENSE AGREEMENT SHALL BE
GOVERNED BY, CONSTRUED AND ENFORCED ACCORDING TO THE LAWS OF THE STATE OF TEXAS.

     IN WITNESS WHEREOF, this Agreement has been executed as of this 1st day of
September 1994.

                                       LICENSOR

                                       CINEMARK USA, INC.

                                       By: /s/ Alan W. Stock
                                           -------------------------------------
                                       Name: Alan W. Stock
                                             -----------------------------------
                                       Title: President
                                              ----------------------------------

                                       LICENSE

                                       CINEMARK PARTNERS II, LTD.

                                       By: CINEMARK PARTNERS I, INC.,
                                           General Partner

                                       By: /s/ Randy Hester
                                           -------------------------------------
                                       Name: Randy Hester
                                             -----------------------------------
                                       Title: Vice President
                                              ----------------------------------

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                              TAX SHARING AGREEMENT

         THIS AGREEMENT is made and entered into as of June 10, 1992, by and
among Cinemark USA, Inc. ("Parent") and Cinemark II, Inc. ("Subsidiary").
Subsidiary and all members of the group of corporations which would be an
affiliated group under Section 1504(a) of the Internal Revenue Code of 1986 (the
"Code"), if Subsidiary were not itself a member of an affiliated group, shall be
referred to as the Subsidiary Group herein and the aggregate income or loss and
tax of such corporations shall be computed as though they were a separate
affiliated group filing a separate consolidated tax return since the effective
date of this Agreement, and thus will take into account, for example, net
operating loss carryforwards that would have been available to such a separate
affiliated group. Such consolidated tax liability shall be regarded as having
been computed on a Separate Return Basis (as defined herein) for purposes of
this Agreement. If a Subsidiary Group does not exist, references to the
Subsidiary Group shall be references solely to Subsidiary.

                                   WITNESSETH:

     WHEREAS, Parent is a common parent corporation of an affiliated group of
corporations (the "Affiliated Group") within the meaning of Code section
1504(a);

     WHEREAS, the Affiliated Group has historically filed a consolidated federal
income tax return and intends to continue filing consolidated federal income tax
returns ("Consolidated Returns");

     WHEREAS, Parent and Subsidiary will derive mutual benefits from filing
Consolidated Returns;

     WHEREAS, Parent and Subsidiary desire to share on an equitable basis the
benefits and burdens that may arise from the filing of Consolidated Returns;

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     NOW, THEREFORE, the parties hereto agree as follows:

1. Consolidated and Combined Returns.

     (a) Subsidiary hereby agrees to join and to cause the other members of the
Subsidiary Group to join in the Consolidated Returns to be filed by the
Affiliated Group, for all taxable periods for which Subsidiary is requested from
time to time by Parent to join, and to take no action inconsistent therewith.

     (b) Subsidiary hereby agrees to join and to cause the other members of the
Subsidiary Group to join in any state, city, or local combined or similar income
or franchise tax return (the "Combined Returns") to be filed by any group of
corporations of which Parent is or shall become a member (the "Combined Group")
for all taxable periods for which it is so requested from time to time by
Parent, and to take no action inconsistent therewith.

     (c) Subsidiary will not elect to file and will cause the other members of
the Subsidiary Group to not elect to file a separate federal income tax return
for any period described in Section 1(a) above or to file a separate state,
city, or local income tax or franchise tax return for any taxable period
described in Section 1(b) above.

2. Parent as Agent.

     Subsidiary irrevocably designates and shall cause the other members of the
Subsidiary Group to irrevocably designate (i) Parent as its agent for the
purpose of taking any and all action necessary or incidental to the filing of
Consolidated Returns (including, but not limited to, the conduct of any audit or
other proceeding by any taxing authority) and (ii) Parent as its agent for the
purpose of taking any and all action necessary or incidental to the filing of
Combined Returns (including, but not limited to, the conduct of any audit by any
taxing authority). Subsidiary further agrees and shall cause the other members
of the Subsidiary Group (i) to furnish parent or

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other corporations selected by Parent with any and all information requested by
Parent in order to carry out the provisions of this Agreement, (ii) to cooperate
with Parent in filing any return or consent pursuant to or contemplated by this
Agreement, (iii) to take such action as Parent may request including, but not
limited to, the filing of requests for the extension of time within which to
file tax returns, and (iv) to cooperate in connection with any refund claim,
audit, judicial, or other proceeding.

3. Federal Income Tax Payments Between Parent and Subsidiary.

     (a) No later than 15 days after the due dates for payments of federal
income tax installments prescribed by Code Section 6154(a), Subsidiary shall pay
to Parent an amount equal to the required installment of the estimated federal
income tax liability of the Subsidiary Group for the taxable year, said
liability to be computed as though Subsidiary were reporting its income as a
separate corporation, since the effective date of this Agreement, making
elections which are consistent with those made by the Affiliated Group, but
without regard to any benefit which would be derived from the use of the
graduated corporate rate structure, if any (a "Separate Return Basis"). The
federal income tax liability of the Subsidiary Group on a Separate Return Basis
(the "Separate Return Tax Liability") shall be recomputed as of the close of the
taxable year and the amount by which the recomputed Separate Return Tax
Liability of the Subsidiary Group exceeds, or is less than, the sum of the
estimated payments made by Subsidiary to Parent for the taxable year, shall be
paid to Parent or remitted to Subsidiary, as the case may be, within 15 days
after the filing of the federal income tax return. In calculating the Separate
Return Tax Liability of the Subsidiary Group, any deduction, credit, or
allowance that has resulted in a credit or payment from Parent to Subsidiary
pursuant to paragraph 3(b) shall be treated as unavailable.

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     (b) If the Subsidiary Group has any deduction, credit, or allowance arising
out of a taxable period in which the Subsidiary Group files as a member of the
Affiliated Group, which on a Separate Return Basis would be allowed as a
carryback to a prior year to offset the Separate Return Tax Liability of the
Subsidiary Group, and said prior year was a year in which the Subsidiary Group
filed as a member of the Affiliated Group, Parent shall pay or credit to
Subsidiary an amount equal to the tax refund the Subsidiary Group would be
entitled to receive if it had filed on a Separate Return Basis. Such payments
shall be made within 15 days after the date of filing of the Affiliated Group's
Consolidated Return for the year in which the Subsidiary Group's deduction,
credit, or allowance arose. If (i) the Subsidiary Group has any deduction,
credit, or allowance arising out of a taxable period in which the Subsidiary
Group files as a member of the Affiliated Group, which on a Separate Return
Basis would be allowed as a carryforward to a subsequent year to reduce any
Separate Return Tax Liability of the Subsidiary Group and (ii) such deduction,
credit, or allowance is absorbed in the tax return of the Affiliated Group, then
Parent shall pay or credit to Subsidiary an amount equal to the reduction in the
tax liability of the Affiliated Group as a result of the absorption of such
deduction, credit, or allowance. Such payments shall be made within 15 days
after the date of filing of the Affiliated Group's Consolidated Return for the
year in which the Affiliated Group absorbs the deduction, credit, or allowance.

     (c) If there are any adjustments to or redeterminations of the net taxable
income of the Subsidiary Group when it was included in the Affiliated Group's
Consolidated Returns or any adjustments to or redetermination of any deduction,
credit, or allowance of Subsidiary which was or could be used by the Affiliated
Group, an appropriate increase or decrease in the amount of payments, made
pursuant to Section 3(a) through Section 3(c) hereof, shall be made by Parent

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or Subsidiary within 120 days of the date of any final administrative or
judicial determination of such adjustments or redeterminations.

     (d) If the Subsidiary Group has any deduction, credit, or allowance arising
out of a taxable period in which the Subsidiary Group is not a member of the
Affiliated Group and such deduction, credit, or allowance is allowed as a
carryback to a year in which the Subsidiary Group joined in the filing of a
Consolidated Return with the Affiliated Group, then Parent shall pay or credit
to Subsidiary an amount equal to the tax refund the Subsidiary Group would have
been entitled to receive on a Separate Return Basis if it itself had utilized
such deduction, credit, or allowance. Such payment shall not exceed the amount
of the tax benefit received by the Affiliated Group from the utilization of such
deduction, credit, or allowance. If such deduction, credit, or allowance is
subsequently disallowed by the Internal Revenue Service, Subsidiary shall refund
any payment made by Parent pursuant to this paragraph with 15 days of the
receipt by Parent of a notice from the Internal Revenue Service of such
disallowance.

4. Consents.

     (a) Parent and Subsidiary hereby consent to the filing of a Consolidated
Return for each year Subsidiary remains a member of the Affiliated Group, until
such time as Parent may elect to discontinue the filing of a Consolidated
Return. Subsidiary shall cause the other members of the Subsidiary Group to
consent to the filing of such Consolidated Returns.

     (b) Subsidiary hereby consents and shall cause the other members of the
Subsidiary Group to consent to all elections made by Parent on behalf of the
Affiliated Group.

5. State Income Tax Payments Between Parent and Subsidiary.

     (a) In the event members of the Subsidiary Group are included in a
combined, joint, consolidated, or unitary state income or franchise tax return
with any member of the Affiliated

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Group, Subsidiary shall make payments to Parent and Parent shall make payments
to Subsidiary on a state-by-state Separate Return Basis in a manner consistent
with that provided by Section 3 hereof.

     (b) Payments made by Subsidiary pursuant to Section 5(a) will be deemed
deductible pursuant to Code Section 164 for purposes of computing the Separate
Return Tax Liability of a Subsidiary pursuant to Section 3(a) hereof.

6. Interest Payments.

     Interest will be charged by or paid by Parent pursuant to this Agreement
only with respect to payments required to be made as a result of any adjustment
or redetermination of the net taxable income of the Subsidiary Group by any
taxing authority. Such interest will be determined in the same manner as would
be determined for federal or state tax purposes.

7. Miscellaneous.

     (a) All notices under this Agreement shall be in writing and shall be
deemed to have been sufficiently given or served and effective for all purposes
when presented personally, or five days after being deposited in a United States
postal receptacle for registered or certified mail addressed, return receipt
requested, postage prepaid, or two business days after delivering to a small
package air courier offering service to the address of the intended recipient
with shipping prepaid, to any person at the address set forth below, or at such
other address as said person shall subsequently designate in writing delivered
in the form of a notice to:

          If to Parent:
                  7502 Greenville Avenue
                  Suite 800 - LB9
                  Dallas, Texas  75231

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          If to Subsidiary:
                  7502 Greenville Avenue
                  Suite 800 - LB9
                  Dallas, Texas  75231

     (b) Neither this Agreement nor any provision hereof may be changed, waived,
discharged, or terminated orally but only by an instrument in writing signed by
the party against whom enforcement of the change, waiver, discharge, or
termination is sought.

     (c) This Agreement shall constitute the entire agreement between the
parties concerning the subject matter hereof and shall supersede any prior
agreements and understandings between or among the parties with respect to the
subject matter hereof.

     (d) The validity, interpretation, and enforceability of this Agreement
shall be governed in all respects by the laws of the State of Texas.

     (e) Failure of any party at any time to require the other party's
performance of any obligation under this Agreement shall not affect the right to
require performance of that obligation. Any waiver by any party of any breach of
any provision of this Agreement shall not be construed as a waiver of any
continuing or succeeding breach of such provision, a waiver or modification of
the provision itself, or a waiver of any right under this Agreement.

     (f) Section and other headings contained in this Agreement are for
reference purposes only and are in no way intended to describe, interpret,
define, or limit the scope, extent, or intent of this Agreement or any provision
hereof.

     (g) Every provision of this Agreement is intended to be severable. If any
term or provision hereof is illegal or invalid for any reason whatsoever, such
illegality or invalidity shall not affect the validity of the remainder of this
Agreement.

     (h) This Agreement may be executed in multiple counterparts each of which
shall be deemed an original and all of which shall constitute one agreement, and
the signatures of any party to any counterpart shall be deemed to be a signature
to, and may be appended to, any other counterpart.

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     IN WITNESS WHEREOF, the parties have executed this Agreement through their
duly authorized representatives as of the day and year first written above.

                                          CINEMARK USA, INC.

                                          By: /s/ Lee Roy Mitchell
                                               ---------------------------------
                                          Title: President
                                                 -------------------------------

                                          CINEMARK II, INC.

                                          By: /s/ Steve Holmes
                                             -----------------------------------
                                          Title: Vice President
                                                 -------------------------------

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