Document:

f10q1008ex10ii_natlampoon.htm

    EXHIBIT
10.2

    AMENDMENT TO FINANCING
AGREEMENT

    

     

    This
Amendment to Financing Agreement (the "Amendment")
is made effective as of October 31, 2006, by and between Ratko
Productions, Inc. ("RATKO"),
and Red Rock Productions, Inc., a Nevada corporation ("RRP"),
with reference to the following facts:

     

    "WHEREAS,
RATKO and RRP have entered into that certain Financing Agreement dated as of
October 31, 2006, (the "Agreement")
") regarding financing arrangements for a theatrical motion pictures
("Picture").
Except as otherwise set forth herein, all defined terms shall have the
meanings given to them in the Agreement.

     

    WHEREAS,
RATKO and RRP desire to amend the Agreement in accordance with the terms and
conditions more fully set forth in this Amendment.

    

    NOW
THEREFORE, for good and valuable consideration, the parties hereby agree to
amend the Agreement in accordance with the following terms and
conditions:

    

    1.  Section
2 Recoupment of Investment will be deleted in its entirety and the following
paragraph
will be added in its place:

    

     

    2.
Recoupment of Investment: RRP will be entitled to recoup its investment plus
interest at ten percent (10%) with interest accruing on the average daily
balance from the date of the loan is provided to RATKO. RATKO will make payments
to RRP as the funds are collected based on the following:

    

    a.    First,
RATKO will pay to National Lampoon, Inc. ("NL") a distribution
fee equal to Twenty percent (20%); and

     

    b.    Next,
NL will receive recoupment of all P&A expenses incurred in connection
with the distribution of the Picture.

    

    The
remaining gross receipts shall be split 50/50 between RATKO and RRP until such
as times as RRP has recouped its investment in its entirety. RATKO acknowledges
that the loan must be repaid to RRP in its entirety on January 31,
2012.

     

    2.    Full Force and Effect /
Conflicts: Except as specifically provided herein, all other terms
and
conditions of the Agreement shall remain in full force and effect. In the event
of any conflict
between this Amendment and the Agreement, this Amendment shall
govern.

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day
and year first above written. The parties hereto by their signature acknowledge
that the terms and conditions hereof form a valid, binding and integrated
agreement which may not be amended, modified or supplemented except in
writing.

     

    

      
        	

                'RATKO"

                 

                RATKO
      PRODUCTIONS INC.

              	 	
                "RRP"

                 

                RED ROCK PRODUCTIONS,
      INC

              
	

              	 	

              
	/s/ 
      Daniel S. Laikin	 	/s/ 
      Reno Rolle
	By: 
      DANIEL S. LAIKIN	 	By: 
      RENO ROLLE
	Its: 
      Authorized Signatory	 	Its: 
      Authorized Signatory
	Date: 
      10/30/08	 	Date: 
      10/30/08f10q1008ex10iii_natlampoon.htm

    EXHIBIT 10.3

    
 

    AMENDMENT TO FINANCING
AGREEMENT

    

     

    This
Amendment to Financing Agreement (the "Amendment")
is made effective as of October 31, 2006, by and between Bag Boy
Productions, Inc. ("BBP"),
and Red Rock Productions, Inc., a Nevada corporation ("RRP"),
with reference to the following facts:

     

    WHEREAS,
BBP and RRP have entered into that certain Financing Agreement dated as of
October 31, 2006, (the "Agreement")
") regarding financing arrangements for a theatrical motion pictures
^Picture").
Except as otherwise set forth herein, all defined terms shall have the
meanings given to them in the Agreement.

    

    WHEREAS,
BBP and RRP desire to amend the Agreement in accordance with the terms and
conditions more fully set forth in this Amendment.

    

    NOW
THEREFORE, for good and valuable consideration, the parties hereby agree to
amend the Agreement in accordance with the following terms and
conditions:

    

    1.   Section
2 Recoupment of Investment will be deleted in its entirety and the following
language
will be added in its place:

    

    2.
Recoupment of Investment: RRP will be entitled to recoup its investment plus
interest at ten percent (10%) with interest accruing on the average daily
balance from the date of the loan is provided to BBP. BBP will make payments to
RRP as the funds are collected based on the following:

    

    a.    First,
BBP will pay to National Lampoon, Inc. ("NL") a distribution fee equal
to Twenty percent (20%); and

     

    b.    Next,
NL will receive recoupment of all P&A expenses incurred in connection
with the distribution of the Picture.

    

    The
remaining gross receipts shall be split 50/50 between BBP and RRP until such as
times as RRP has recouped its investment in its entirety. BBP acknowledges that
the loan must be repaid to RRP in its entirety on March 14, 2011.

    

     

    2.  Full Force and Effect /
Conflicts: Except as specifically provided herein, all other terms
and
conditions of the Agreement shall remain in full force and effect. In the event
of any conflict
between this Amendment and the Agreement, this Amendment shall
govern.

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day
and year first above written. The parties hereto by their signature acknowledge
that the terms and conditions hereof form a valid, binding and integrated
agreement which may not be amended, modified or supplemented except in
writing.

    

     

     

     

    
      
        	
                "BBP"

                 

                BAG BOY PRODUCTIONS
      INC.

              	 	
                RRP

                 

                RED ROCKS
      PRODUCTIONS, INC.f10q1008ex10iv_natlampoon.htm

    EXHIBIT
10.4

     

    NLDM
ONE, L.L.C. 

    FLIM
FLAM FILMS, L.L.C.

     VOODOO
PRODUCTION SERVICES, L.L.C.

    

    

     

    NOTICE OF ASSIGNMENT AND
DIRECTION TO PAY

    

    

    Please
make reference to the Agreement between NATIONAL LAMPOON, INC. ("NL") and FLIM
FLAM FILMS, LLC ("Flim Flam") (together the "Parties") dated as of April 30,
2007 for the distribution of the motion picture "DIRTY MOVIE" or "NATIONAL
LAMPOON'S DIRTY MOVIE" (the "Picture") as therein defined ("NL
Agreement").

     

    Unless
defined herein, words and phrases appearing in this Notice of Assignment and
Direction to Pay shall
have the meaning as defined in the NL Agreement.

     

    1. Please
take notice that the interest of Flim Flam in the Agreement has been contributed
to NLDM ONE, L.L.C. ("NLDM ONE") pursuant to a Contribution Agreement dated as
of January 31, 2008 between Flim. Flam and NLDM ONE, and accordingly, the
Licensee has assigned its 75% interest in the gross receipts of the Picture (as
provided in paragraph 3 of the NL Agreement) to NLDM ONE. Notwithstanding the
foregoing, Flim Flam has retained its right of recoupment of Production costs at
120% as provided in the penultimate sentence of paragraph 3 of the NL Agreement,
except as provided in paragraph 2 below.

     

    2. In light
of certain distribution and production services performed for the Picture by
Voodoo Production Services, LLC ("Voodoo"), as well as certain other financial
considerations, NLDM ONE has agreed to assign an amount equal to 8% of the gross
receipts of the Picture to Voodoo. In addition, Flim Flam has agreed to assign
Voodoo the first $190,000 that it will be entitled to receive pursuant to its
right of recoupment of Production costs as set forth in paragraph. 3 of the NL
Agreement.

    

    Accordingly,
the Parties hereby agree that paragraph 3 of the NL- Agreement shall be revised
to read as follows:

     

    "3.
DIVISION OF GROSS RECEIPTS: Gross receipts from the Picture shall be divided as
follows: First, NL will receive its 8% trademark fee,

    Next, NL
will receive its distribution fee, which is 20% when distributing directly and a
5% override if being distributed by a third party.

     

    Next,
Voodoo Production Sendees, LLC ("Voodoo") will receive its 8%
distribution/production fee (equal in amount, to NL's 8% trademark fee),
provided that payment of Voodoo's 8% distribution/production fee shall be
deferred until NL (or it sub-distributor) recoups 120% of P&A and Licensee
(or its assignee - including Voodoo) recoups 120% of Production costs. Next,
recoupment by NL- (or its sub-distributor) of P&A at 120%. P&A will be a
minimum of S .100,000.00 and a maximum of $300,000.00 without the written
approval of Licensee. 20-40% of the P&A will be spent on NL platforms and
other NL media.

    Next,
recoupment by Licensee of Production costs at 120%. Production costs will be a
minimum of §100,000 and a maximum of 5200,000.00 without the written approval of
NL, provided S190,000 of this amount will be paid to Voodoo as specified
below.

    The
balance will be divided 75% to Licensee and 25% to NL, provided that Voodoo's
8%

    distribution/production
fee shall not be included in the computation of the balance for puiposes
of

    calculating
the 25% due to NL.  

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Any and
all payments made by NL with respect to amounts owed to Voodoo as assignee of
NLDM ONE and/or Flim Flam, as applicable, shall be paid as and when due and
payable to Voodoo Production Services, LLC, if by wire transfer to:

     

    Account:
Voodoo Production Services, LLC 

    Bank: The
Business Bank of St. Louis

    St.
Louis, Missouri

    Account
Number: 12984420 

    Routing
No. 081018998

    (or to
such other address or account as Voodoo may designate in writing)

     

    NL
acknowledges that it will pay all funds relating to amounts assigned by NLDM ONE
and/or Flim Flam, as applicable, to Voodoo under the NL Agreement to the above
account.

    

    All other
clauses and conditions set forth in the NL Agreement, not herein amended, for
any legal purposes shall remain in full force and effect and bind the parties
and are hereby ratified and confirmed.

     

    IN
WITNESS HEREOF, the parties hereto have agreed and caused this Notice of
Assignment and

     

    Direction
to Pay to be executed by their duly authorized representatives effective as of
October 1, 2008.                                                                                               --^

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