Document:

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                              MILLENNIUM CELL INC.
                              1 INDUSTRIAL WAY WEST
                           EATONTOWN, NEW JERSEY 07724

                                                                  April 22, 2003

Pine Ridge Financial, Inc.
c/o Cavallo Capital Corp.
660 Madison Avenue, 18th Floor
New York, New York  10022

     Re:  Unsecured Convertible Debenture Original Issue Date December 26, 2002
          in aggregate principal amount outstanding on the date hereof
          $2,299,999.35 (the "Unsecured Debentures") And Secured Convertible
          Debenture Original Issue Date January 30, 2003 in aggregate principal
          amount outstanding on the date hereof $8,500,000 (the "Secured
          Debentures")

Gentlemen,

     Reference is made to Unsecured Debentures (defined above) of Millennium
Cell Inc. (the "Company"). Pursuant to the terms of the Unsecured Debentures,
the parties hereto mutually agree that the Maturity Date (as defined in the
Unsecured Debentures) shall be extended from June 26, 2003 to September 30,
2003.

     Reference is made to Secured Debentures (defined above) of the Company. The
parties hereto mutually agree that the second sentence of Section 9(b)(i) of the
Secured Debentures shall be amended in its entirety to read as follows:

          At any time following September 30, 2003 and prior to the Maturity
          Date, the Holder shall have the right, exercisable at the sole option
          of the Holder, and by delivery of a written notice (a "HOLDER
          PREPAYMENT NOTICE" and the date such notice is delivered by the
          Holder, the "HOLDER NOTICE DATE") to the Company, to require the
          Company to prepay all or a portion of the Secured Debentures then held
          by the Holder for an amount in cash, equal to the Holder Prepayment
          Price which shall be due and payable on the 20th Trading Day following
          the Holder Notice Date. Notwithstanding anything herein to the
          contrary, the Holder shall only be entitled to deliver a Holder
          Prepayment Notice pursuant to the terms hereof if: (x) on or prior to
          September 30, 2003, there has not occurred an automatic exchange
          pursuant to Section 7 hereof for a minimum of $3,000,000 of aggregate
          principal amount of Secured Debentures, provided, that such date shall
          be extended to December 31, 2003 if the Company shall have filed the
          first Additional Registration Statement with the Commission, (y) on or
          prior to March 31, 2004, there have not occurred automatic exchanges
          pursuant to Section 7 hereof for a minimum

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          of $6,000,000 of aggregate principal amount of Secured Debentures or
          (z) on or prior to September 30, 2004, there have not occurred
          automatic exchanges pursuant to Section 7 hereof for all of the
          original principal amount of Secured Debentures.

     Except as previously amended or expressly amended hereby, all terms,
conditions and provisions of the Unsecured Debentures and the Secured Debentures
shall remain unchanged and in full force and effect and are ratified and
reaffirmed in all respects.

     Please sign in the space indicated below to evidence your agreement with
this letter.

                                                   Very truly yours,
                                                   Millennium Cell Inc.

                                                   By: /s/ Stephen S. Tang
                                                   President and Chief
                                                   Executive Officer
Agreed and Accepted
Pine Ridge Financial, Inc.

By: /s/ Eldad Gal
Title:  Cavallo Capital as Investment
        Advisor to Pine Ridge Financial, Inc.Exhibit 10.1

                                MASTER AGREEMENT

THIS MASTER AGREEMENT (THE "AGREEMENT") is made and entered into as of the 21day
of January, 2003, by and between SHOWINTEL NETWORKS, INC., a Nevada Corporation
("Showintel"), with offices at 554 Greentree Cove, Suite 102, Collierville, TN
38017, and MINATAUR PRODUCTIONS, INC. an Illinois corporation ("Channel M"),
with offices at 11734 Gateway Boulevard, Los Angeles, California 90064.

                                    RECITALS

Showintel has represented to Channel M that Showintel and its operation have (i)
developed and shall operate at Channel M Locations (defined below) a digital
media management system with integrative software control through site-based
server and systems software that displays advertising and other matter (herein
referred to as "Displays"), (ii) the capacity and continued capacity to provide
Channel M Locations with a network operation (herein referred to as "Services")
for the Displays and, if desired, interactive touch-screen access and e-commerce
shopping and (iii) it is developing, and will continue to develop, products and
services that can be used in conjunction with their servers, master controls and
facilities.

Channel M and Showintel each perceives mutual benefits of displays of
advertising, trailers and other matter in a Channel M Location and, if desired,
products sold at Channel M Locations by e-commerce, including compact disks and
other services and products by Showintel.

In entering into this Agreement and performing its respective obligations,
Channel M relies upon Showintel's representations, covenants and agreements as
set forth in this Agreement.

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

                                    AGREEMENT

1.   INCORPORATION OF RECITALS

     The  recitals set forth above are fully  incorporated  herein as though set
     forth again their entirety, and are part of this Agreement.

2.   DEFINITIONS

     a)   LOCATIONS. For the purposes of this Agreement, the words "Channel M
          Location" or "Channel M Locations" shall mean all of the movie
          theatres owned by third parties which Channel M currently or will
          provide lobby video programming and/or advertising sales services for
          ("The Channel M Program").

     b)   NETWORKED THEATRES. For the purposes of this Agreement, the words
          "Networked Theatres" or "Networked Theatre" are defined as all movie
          theatres with Showintel Displays regardless of whether Showintel or
          Channel M is the holder of the theatre exhibitor contract.

     c)   NON-NETWORKED THEATRES. For the purposes of this Agreement, the words
          "Non-Networked Theatres" or "Non-Networked Theatre" are defined as all
          Channel M Locations that do not have Showintel Displays.

     d)   GROSS PROFIT. For the purpose of this Agreement, "Gross Profit" is
          defined as gross advertising sale minus 15% ad agency fee minus
          theatre revenue share.
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     e)   ADVERTISEMENTS. For the purpose of this Agreement, "Advertisements"
          are defined as the video content which is sold by Channel M or
          Showintel to third parties for placement on the Showintel Displays or
          The Channel M Program.

     f)   NATIONAL ADVERTISERS. For the purpose of this Agreement, the words
          "National Advertisers" or "National Ads" shall mean all Advertisements
          sold by either Channel M or Showintel to third parties who by general
          advertising industry standards are generally deemed as national
          advertisers.

     g)   LOCAL ADVERTISERS. For the purpose of this Agreement, the words "Local
          Advertisers" or "Local Ads" shall mean all Advertisements sold by
          either Channel M or Showintel to third parties who by general
          advertising industry standards are generally deemed as local
          advertisers, generally local businesses who wish to promote their
          business or product within a specific geographic area generally
          considered to be within a 20 mile radius of the business.

3.   AGREEMENT. Channel M hereby grants to Showintel and to Showintel only, the
     right and privilege to provide digital media management services via
     Displays and Services and such products in Channel M Locations as
     designated in separate addendum, and such Locations as Channel M may
     undertake in writing. As consideration for the benefits conferred by this
     Agreement, Channel M agrees to share revenue as provided in this Agreement,
     and Showintel covenants and agrees that it shall continuously, and without
     interruption, provide such Services during the usual business hours of the
     location, and each regular business day on which the locations are open for
     business, in strict and faithful compliance with the requirements agreed to
     herein.

3.1  Showintel shall make no material alterations or installations to or
     affecting any Channel M location without Channel M's prior written
     approval.

3.2  TERM. The term of this Agreement herein granted shall commence on January
     21, 2003 and shall continue until the earlier of: (a) January 21, 2005, or
     (b) the expiration of the separate agreements for any specific Channel M
     Location. However, the term of the separate license for any specific
     Location herein granted shall continue for a minimum period of two (2)
     years from date of installation. Notwithstanding the foregoing, the master
     term and each specific license are subject to sooner termination as set
     forth below.

4.   PAYMENT OF REVENUE SHARE; BENEFITS. Each Party, as an "Obligated Party,"
     further covenants and agrees to pay to the other Party any portion of the
     Revenue Share (defined below) due to the other Party and received by the
     Obligated Party, no later than the seventh (7th) day of the calendar month
     immediately following the date of receipt of such funds by the Obligated
     Party. Further, each Obligated Party shall render an accounting of all
     funds received and deductions made pursuant to this Agreement during the
     prior calendar month, together with payment of the Revenue Share paid by
     the Obligated Party.

4.1  Both Channel M and Showintel will maintain separate marketing efforts to
     market Advertisements available at Channel M Locations and Networked
     Theatres with the provisions and revenue sharing as follows:

     a)   Channel M will exclusively sell National Ads. Showintel shall have
          prior approval from Channel to approach a potential advertiser to sell
          National Ads, which approval will not be unreasonably withheld,
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          provided that Channel M does not have pending negotiations or
          agreement(s) with the potential advertiser.

     b)   Showintel will focus on sales of Local Ads and shall communicate
          regarding its sales efforts with Channel M on a weekly basis. The
          terms of this Agreement regarding sales of Local Ads shall be
          renegotiated in good faith between the parties should Channel M decide
          in the future to adopt a Local Ads sales effort.

     c)   Channel M will manage content delivery for all Networked Theatres.

     d)   Revenue Share shall be calculated as follows:

          1. For all Networked Theatres for which Channel M sells advertising,
          Showintel will receive as its Revenue Share:

          5% of the Gross Profit off the FIRST ad sold in a flight.
          10% of the Gross Profit off the SECOND ad sold in a flight.
          15% of the Gross  Profit  off the THIRD ad sold in a flight and on any
          sales sold in that flight thereafter.

          By way of example only: if Channel M sells an ad on 87 Networked
          Sites, and the average gross sale price for one ad was $350 per flight
          per theater; the Gross Profit is calculated as $350 x 85% (accounting
          for ad agency fee) x 50% (accounting for theatre revenue share) =
          $148.75.

          Then Showintel would receive:

          $148.75 x 87 theatres x 5% of the FIRST ad sold in a flight or $647.06
          $148.75 x 87 theatres x 10% of the SECOND ad sold in a flight or
          $1294.13 $148.75 x 87 theatres x 15% of the THIRD ad sold in a flight
          or $1941.19 and this same 15% on any ads sold after three for all
          networked theatres.

          2. For any sales Showintel were to make on any Channel M Non-Networked
          theatres either national or local sales, Showintel would receive 50%
          of the Gross Profit.

          3. For all Networked Theatres for which Showintel sells advertising,
          Channel M will receive as its Revenue Share:

          5% of the Gross Profit off the FIRST ad sold in a flight.
          10% of the Gross Profit off the SECOND ad sold in a flight.
          15% of the Gross  Profit  off the THIRD ad sold in a flight and on any
          sales sold in that flight thereafter.

          By way of example only: if Showintel sells an ad on 87 Networked
          Sites, and the average gross sale price for one ad was $350 per flight
          per theater; the Gross Profit is calculated as $350 x 85% (accounting
          for ad agency fee) x 50% (accounting for theatre revenue share) =
          $148.75.

          Then Channel M would receive:

          $148.75 x 87 theatres x 5% of the FIRST ad sold in a flight or $647.06
          $148.75 x 87 theatres x 10% of the SECOND ad sold in a flight or
          $1294.13 $148.75 x 87 theatres x 15% of the THIRD ad sold in a flight
          or $1941.19 and this same 15% on any ads sold after three for all
          networked theatres.
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     e)   Each Party shall be responsible for its own costs associated with the
          reporting and collection of generated revenues.

     f)   Each Party shall notify the other party prior to making contact with
          new theater chains to prevent duplication of efforts. Both parties
          shall diligently work together to expand to new theater chains not
          currently under contract.

4.3  The amount of the gross revenues sold by either Party shall be ascertained
     on a four week cycle per the flight schedule as developed by Channel M.
     Each Party shall provide the other Party with a full, true and correct
     accounting showing such gross revenues for the flight. Such accounting
     shall be provided to other Party on the seventh day of each calendar month,
     accompanied by a check for Revenue Share due from an Obligated Party, if
     any.

4.2  Each Obligated Party shall hold any amounts due to the other party's
     Revenue Share in trust, as a fiduciary. Channel M grants Showintel a first
     priority interest in the Showintel Revenue Share, now or hereafter arising
     from operations at or in connection with this Agreement; and Showintel
     grants Channel M a first priority interest in the Channel M Revenue Share,
     now or hereafter arising from operations at or in connection with this
     Agreement.

5.   NON-DISCLOSURE AND NON-COMPETE. During the term of this Agreement, and so
     long as neither Party is in material default hereunder, each Party agrees
     not to make any disclosure of the subject matter of this Agreement to any
     third person or entity, and each Party further agrees that it shall not
     contact, either directly or indirectly, the theater clients of the other
     Party with respect to the Displays without the express approval for the
     release of the information.

6.   INTEGRATION. The Displays and all functions will appear to the public as an
     integrated part of the theater operations, except that either party,
     Channel M or Showintel, may apply tasteful identification on its equipment
     and may also show identification "spots" in the advertising rotation,
     subject to other Party's prior written approval, which will not
     unreasonably be withheld, and further subject to the approval of the
     manager of the Location.

7.   INDEPENDENT CONTRACTOR. Channel M and Showintel are independent
     contractors. The Parties are not partners, and the Parties are not engaged
     in a joint venture. Vendors and creditors of the Channel M or Showintel
     will be advised by the Parties hereto that both parties are independent
     contractors and are responsible for purchase of and payment for their own
     equipment, software and services, in their own name, as their individual,
     sole responsibility, for their own account.

8.   EQUIPMENT TO BE PROVIDED BY SHOWINTEL. Showintel agrees to furnish all
     equipment, software and support for the operation in the Channel M
     Locations, with the exception of the video display. Said furnishings and
     equipment shall at all times belong to and be owned by Showintel, and
     Showintel shall maintain these in good condition and state-of-the-art
     working order, repair and replacement. Showintel will fix and/or replace
     any of its field equipment within 2 business days of being notified of the
     problem as specified below, with the exception of events beyond Showintel's
     control, such as loss of broadband connectivity or access to a building
     location. Such notification shall be in writing by facsimile to
     901-854-3589, or at such other contact advised by Showintel in writing.

9.   COSTS AND EXPENSES. Showintel agrees to obtain and pay for, at its sole
     cost and expense, all costs, expenditures and expenses associated with the
     Services and Displays (except to the extent specifically and expressly
     excluded in this Agreement and imposed on Channel M). Without limiting the
<PAGE>
     generality of the foregoing, the following expenses shall be paid by the
     Parties as follows:

     a.   All expenses of the network operation will be paid for by Showintel,
          without cost to Channel M, as a part of the Displays and Services to
          be supplied, with the exclusion of equipment purchases not provided
          herein.

     b.   Showintel and Channel M shall each pay all governmental charges,
          costs, assessments, fines or penalties of every kind and nature, which
          have been or which may be levied, assessed or charged by any
          governmental agency against the respective Party's property and goods.

     c.   All necessary employee or contractor records, sales tax records, and
          any other records required by state, county or federal government
          shall be kept by each Party for its own employees, contract employees,
          subcontractors and suppliers; and each Party shall be responsible for
          its own personnel, wages, payroll, workers compensation premiums,
          payments or awards, all other insurance premiums or awards, employee
          benefits and payments of any nature, and all taxes thereon or measured
          thereby.

     d.   All expenditures and expenses related to the acquisition,
          installation, operation, maintenance, repair, replacement and
          upgrading of the network and its related hardware and software
          components, with the exception of the content, shall remain the
          obligation of Showintel. In the event of termination of any license
          for a Display, Channel M shall not be entitled to use, retain or
          otherwise appropriate rights to any of the intellectual property
          rights owned or controlled by Showintel including database, management
          systems, loyalty programming and other systems of exclusive design for
          the operations of the Showintel.

10.  COSTS TO BE PAID BY LOCATION OWNERS. It is the intention of the Parties
     that the Location owners shall bear all costs for utilities. A manager or
     owner of a Location will decide, if needed, where real estate alterations
     will be made and shall bear the reasonable costs of construction to
     buildings and improvements for the accommodation of Channel M or Showintel
     related equipment and it shall be the obligation of the Party negotiating
     or contracting with such Location owner and/or manager to make that person
     or entity aware of the provisions of this Agreement relating to costs to be
     borne by Location owners.

11.  SHOWINTEL COVENANTS. Showintel hereby further covenants and further agrees
     with Channel M:

     a)   Showintel's Displays and Services will be fully operational in
          designated Channel M Locations no later than two weeks after the
          installation of broadband services for the city where a Location is
          situated.

     b)   Showintel is, and shall be, responsible, at its sole expense, for
          installation, management, maintenance, repair, replacement and
          upgrading of Displays and Services and for providing Channel M with
          reliable and first class advertising and shopping systems.

     c)   Showintel shall provide to Channel M advance notification of all
          contacts for Display advertising, without exception.

     d)   Showintel shall undertake to upgrade its Displays and Services to
          timely keep pace with technological advances and replacements with the
          exception of the display monitors, screens or projectors.
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     e)   The commencement of full operation of the Displays and Services in
          each location shall mark the beginning to the term of license for that
          unit under the purposes of calculations under Sec. 4 above.

     f)   Showintel shall conduct its operations at all times with skill and
          expertise of an expert, and according to highest professional ethics;
          and Showintel shall deal with advertisers and their respective
          agencies and agents with the highest ethical standards. Showintel
          shall not charge for nor collect any amounts for advertising revenues
          (unless identified as pre-paid) until actually displayed in a
          Showintel or Channel M Location.

     g)   It is the intent of the Parties hereto that the available time in the
          display rotation devoted to advertising by third parties will be
          limited to the percentage allowed by the Location owners pursuant with
          the contract between the Parties and the Location owners. The Parties
          agree that the Location owners or managers shall have no obligation to
          pay ad-related expenses, except for the production of ad content
          intentionally provided by and on behalf of the Location owner, its
          subsidiaries and affiliates or unless those expenses are specifically
          identified in this Agreement.

     Showintel shall indemnify, defend (at its sole cost and expense) and hold
     Channel M and its affiliates, officers, directors, representatives, agents,
     successors and assigns (collectively "Channel M Releasees") harmless from
     and against any and all claims, actions, proceedings or legal actions of
     any nature that may be claimed, alleged, suffered, filed or asserted by any
     person or entity who is not a party to this Agreement, arising out of or
     related to the following: defective Showintel Displays or Services, the
     sales of which are effected at Channel M locations or in conjunction with
     Channel M operations; performance by Showintel of its duties pursuant to
     this Agreement; negligence or willful misconduct of Showintel, its
     employees, representatives, agents or assigns in providing the Services or
     Displays described herein; personal injury or property damage claims
     related to the Services or Displays described herein; any claim of damage
     suffered by any person or entity arising out of a breach of any material
     term of this Agreement by Showintel; any claim of damage by any party
     related to infringement upon copyright or trade rights by Showintel in
     rendering the Displays or Services; or any matter related to the
     development, organization, ownership, use or marketing of any Showintel
     product, Display or Services. The indemnity provisions of this Agreement
     shall survive termination of this Agreement. The Showintel media management
     system, and its concept, and, if desired by Channel M, the Showintel
     Displays and Services and kiosk based e-commerce shall be available in
     Channel M locations for a period of two (2) years (or earlier, upon
     termination of the license hereunder for that location).

12.  CHANNEL M COVENANTS. Channel M hereby further covenants and further agrees
     with Showintel:

     a.   Channel M shall provide Showintel advance notification of contacts for
          display advertising in Networked Theatres, without exception.

     b.   Channel M shall conduct its operations arising out of this Agreement
          with skill and according to highest professional ethics. Channel M
          shall deal with advertisers and their respective agencies and agents
          with high ethical standards. Channel M shall not charge for nor
          collect any advertising revenues (unless identified as pre-paid) until
          actually displayed in a Networked Theatre.

     c.   It is the intent of the Parties hereto that the available time in the
          display rotation devoted to advertising by third parties will be
          limited to the percentage allowed by the Location owners pursuant with
<PAGE>
          the contract between the Parties and the Location owners. The Parties
          agree that the Location owners or managers shall have no obligation to
          pay ad-related expenses, except for the production of ad content
          intentionally provided by and on behalf of the location owner or
          manager, its subsidiaries and affiliates, and unless those expenses
          are specifically identified in this Agreement.

     d.   Channel M shall indemnify, defend (at its sole cost and expense) and
          hold Showintel and its affiliates officers, directors,
          representatives, agents, successors and assigns (collectively
          "Showintel Releasees") harmless from and against any and all product
          liability claims that may be claimed, alleged, suffered or asserted by
          any person or entity who is not a party to this Agreement, arising out
          of or related to performance by Channel M pursuant to this Agreement.
          The indemnity provisions of this Agreement shall survive termination
          of this Agreement.

13.  REPRESENTATIONS AND WARRANTIES. As further consideration for the Parties
     entering into this Agreement and for performing pursuant to the terms and
     conditions hereof, Showintel hereby represents and warrants to Channel M
     the following:

     a)   Standard vendor representations and warranties including the Displays
          and Services have been pre-tested and are and will be bug-free and
          will be continuously operational within normal industry standards.

     b)   Showintel has developed a digital display with integrated software
          control which presently consists of plasma screens with integrated
          software, as well as digital projection wall displays, that are
          controlled through a site-based server which stores content for the
          display and a high speed connection to a remote server.

     c)   Showintel has participated in the design and exclusively owns and
          operates and shall continuously keep in first class, reliable
          operation, without interruption, the Displays and the operating system
          software for the Displays, which permits each of the panels of the
          display to present different coordinated multimedia digital content.
          The multiple digital content displayed on each of the panels of the
          display is intended to assist in the promotion of the Locations or
          generate revenues as follows:

          1)   Project trailers or other promotional materials relating to
               attraction and concessions at the Channel M Locations.
          2)   project loyalty program information, including specials discount
               and contest activities
          3)   project advertisements by paying sponsors and advertisers
          4)   project general information of public interest or certain
               productions

     d)   Showintel has participated in the design of and exclusively owns
          software and shall continuously link, manage and operate digital
          transmissions in each and all displays through a process known as
          network operations.

14.  DEFAULT. The following shall constitute an event of default and a breach of
     this Agreement by the parties hereto:

     a)   If Channel M or Showintel shall fail to observe or perform in any
          material respect any of the covenants, agreements or conditions of
          this Agreement, or fail to undertake or honor an indemnity obligation
          provided in this Agreement, and such failure shall continue for a
          period of ten (10) days after written notice thereof from the
          non-breaching party has been given to the other party, unless such
          default cannot reasonably be cured within ten (10) days and the party
          who has caused such failure shall, within such period, commence to
          cure such failure and thereafter diligently prosecutes the same to
          completion.
<PAGE>
     b)   If Channel M or Showintel shall file a petition in bankruptcy or be
          adjudicated a bankrupt, file any petition or answer seeking any
          reorganization, arrangement, composition, readjustment, liquidation,
          dissolution or similar relief for itself under any present or future
          federal, state or other statute, law or regulation, make an assignment
          for the benefit of creditors or if a trustee, receiver or liquidator
          of all or a substantial part of either party's assets shall be
          appointed in any action, suit or proceeding by or against such party,
          and such proceeding shall not have been dismissed within sixty (60)
          days of such commencement.

     c)   If any warranty or representation of either party to this Agreement
          shall prove to be untrue in any material respect at the time it was
          made or at the time of its performance, whichever may be later.

     d)   In the event an Obligated Party fails to make any payment required
          pursuant to the terms of this Agreement, and such failure continues
          for a period of fifteen (15) days after written notice from the Party
          to whom payment is due, then the Party to whom payment is due may, but
          shall not be required to, declare this Agreement immediately
          terminated and to collect all amounts due, including costs of
          collection, attorneys' fees and costs.

     e)   The remedies available to a Party in the event the other Party
          defaults in performance of any material term or condition of this
          Agreement shall be limited to the following:

          1)   termination of this agreement as set forth below; and

          2)   loss of income arising from pending prepaid Advertisements and
               Advertisements until the termination of third party pending
               contracts entered into on behalf of Channel M or Showintel for
               display of Advertisements in Networked Theatres; and

          3)   damages, awards, costs, and expenses of any kind, including
               attorney's fees and costs related to or arising out of the
               indemnity provisions of this Agreement, which provisions shall
               survive termination of this Agreement; and

          4)   any and all equitable relief, including, but not limited to
               injunctive relief and specific performance, necessary or
               appropriate to compel compliance or performance of any Party
               pursuant to the terms of this Agreement.

15.  TERMINATION. Termination of this Agreement shall occur upon the earlier of:
     (a) expiration of the term of this Agreement as set forth herein; or (b)
     termination upon default of a Party, pursuant to the provisions of
     Paragraph 14 hereof. In the event of termination of this Agreement,
     Showintel shall remove its Displays and Services from Networked Theatres
     within 120 days after the effective date of termination.

16.  ANNOUNCEMENTS. Until the execution and delivery of this Agreement, the
     timing and content of announcement, publicity or reports regarding any
     aspect of this transaction to the financial community, advertising
     community, governmental agencies, customers, suppliers, or the public
     generally must be mutually agreed upon in writing by the Parties hereto;
     however, upon execution of this Agreement the Parties must comply with
     regulatory requirements for pubic disclosure as Showintel is a publicly
     registered and trading company.

17.  GOVERNING LAW. This Agreement shall be governed and construed under the
     laws of California, and each Party hereto agrees to be subject to the
     jurisdiction of the courts of the State of California, or the courts of the
     United States of America located in Los Angeles County, California.
<PAGE>
18.  ACCESS.  Upon reasonable  notice and during  reasonable  business hours, no
     more often than once each quarter, each Party shall have the right to audit
     the  other  Party's  records  to  determine  compliance  with  the  payment
     provisions of this Agreement. The parties shall reconcile any discrepancies
     found in the audit  within  thirty days after  receiving  the report of the
     auditor.  If an independent  auditor finds  underpayments  and non-payments
     aggregating  5% or more of the amount  actually  paid in any  quarter,  the
     audited party shall reimburse the auditing party for the cost of the audit.

19.  LIABILITY. Neither Party hereto has any duty, obligation or liability to
     the other, other than as expressly set forth in this Agreement.

20.  FURTHER REPRESENTATIONS AND WARRANTIES OF THE PARTIES.

     EACH PARTY REPRESENTS AND WARRANTS TO THE OTHER PARTY THAT:

     a)   Such Party has the right, power, legal capacity, and authority to
          execute and enter into this Agreement and to execute all other
          documents and perform all other acts as may be necessary in connection
          with the performance of this Agreement.

     b)   No approval or consent not previously obtained by any person or entity
          is necessary in connection with the execution of this Agreement by
          such Party or the performance of such Party's obligations under this
          Agreement.

21.  ABATEMENT. In the event of fire or other event not caused by either Party
     hereto, causing damage to a Networked Theatre and such Networked Theatre is
     destroyed or rendered temporarily non-usable, this Agreement shall be
     suspended as to such Networked Theatre until as such time it is determined
     by the Location owner to cease operations at that Location or site; or
     until such time as the site or Location shall be in sufficient repair for
     the performance of the provisions of this Agreement.

22.  ATTORNEY'S FEES. If either party finds it necessary to initiate legal
     action or proceedings for the enforcement or interpretation of this
     Agreement, then the prevailing party shall be entitled to recover
     reasonable attorney fees, costs and expenses incurred in such action.

23.  NOTICES. Any notice, communication, request, reply or advice by either
     party shall be writing and duly addressed, postage prepaid, to the
     addressee by first class U. S. Mail to the address set forth above, or by
     facsimile transmission to a facsimile number provided by the addressee. In
     the event such notice sets forth a demand for performance of any term of
     this Agreement, the notice of such demand shall be effected by certified U.
     S. Mail, return receipt requested. All notices shall be deemed received
     three (3) days after proper mailing or upon delivery of a facsimile
     transmission to the addressee as set forth in this paragraph 23. Either
     Party may change the address or facsimile contact to which notices are to
     be sent by providing written notice of a change in contact information
     pursuant to the terms of this paragraph 23.

24.  FAXED ORIGINAL; COUNTERPARTS. Execution of this document may be
     accomplished by facsimile transmission of signed copies of this Agreement
     followed by delivery of the original signed hard copies in the manner
     provided herein. This Agreement may be executed in counterparts, each of
     which shall be deemed to be an original.

     ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between
     the Parties hereto with respect to the matters set forth herein and no
     representations or warranties have been made by either Party hereto, other
     than as set forth herein. This Agreement supersedes all prior discussions,
     communications, or negations of the Parties with respect to the content of
     this Agreement which occurred prior to the date of execution of this
     Agreement. No modification shall be binding upon either Party unless it
     shall be in writing and signed by all Parties hereto.
<PAGE>
IN WITNESS WHEREOF, the parties hereto have entered into this Agreement as of
the day and year first above written.

SHOWINTEL NETWORKS, INC                      MINATAUR PRODUCTIONS, INC.

By: /s/ David Lott                           By: /s/ Eric Hebel
    ---------------------------------            -------------------------------
    David Lott                                   Eric Hebel
    Its: CEO                                     Its: COO
    Date January 21, 2002                        Date: _________________________

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