Document:

Exhibit 10.7

                       DISTRIBUTION AND PURCHASE AGREEMENT

            This DISTRIBUTION AND PURCHASE AGREEMENT (this "Agreement") is made
and entered into as of April 30, 2002, by and among Cedric Kushner ("Kushner"),
James DiLorenzo ("DiLorenzo") and Livingston Investments, LLC, a Florida limited
liability company ("Livingston").

                                    RECITALS

            WHEREAS,  Kushner,  DiLorenzo,  Cedric  Kushner  Boxing,  Inc.,  a
Delaware  corporation  ("Boxing") and Zenascent,  Inc., a Delaware corporation
("Zenascent"),  have  negotiated an Agreement  and Plan of Merger  pursuant to
which  Zenascent  would  acquire  Boxing by  merger  (the  "Zenascent  Merger
Agreement");

            WHEREAS, the consummation of the transactions contemplated by the
Zenascent Merger Agreement is conditioned upon Boxing's acquisition by merger
(the "Big Content Merger") of Big Content, Inc., a Delaware corporation ("Big
Content"), all of the issued and outstanding capital stock of which is owned by
Livingston and its Affiliates and DiLorenzo;

            WHEREAS, in order to induce Livingston, in its capacity as
controlling stockholder of Big Content, to approve the Big Content Merger,
Kushner and DiLorenzo (each, a "Restricted Person") are prepared to agree with
Livingston on certain conditions to and restrictions on the transfer by
Restricted Persons of Zenascent capital stock; and

            WHEREAS, in consideration for their agreement to the abovementioned
conditions and restrictions, Livingston is prepared to agree with Kushner and
DiLorenzo on certain restrictions on its transfer of certain Zenascent capital
stock.

            NOW, THEREFORE, in reliance on and in consideration of the premises
and of the mutual benefits and covenants contained herein, the parties hereto,
intending to be bound, hereby agree as follows:

      1.    RESTRICTIONS ON TRANSFER OF ZENASCENT STOCK

            (a) A Restricted Person may not transfer, assign, sell, pledge,
hypothecate or otherwise encumber any shares of Zenascent capital stock (any
such transaction, a "Transfer") without Livingston's prior written consent,
provided that a Restricted Person may Transfer up to fifty percent (50%) of the
shares of Zenascent capital stock then held by him (a "Restricted Sale") in
compliance with the provisions of Sections 2(a) and 3.

            (b) Except as contemplated under section 3(b) of the Consulting
Agreement, dated as of the date hereof, by and between Zenascent, Big Content,
Cedric Kushner Promotions, Ltd., a New York corporation ("CKP"), Boxing and
Livingston (the "Consulting Agreement"), Livingston shall not, and shall cause
each of its Affiliates (as hereinafter defined) not to, Transfer any shares of
Series C Convertible Redeemable Preferred Stock, par value $0.01 per share, of

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Zenascent ("Series C Stock"), other than to Cedric Kushner, James DiLorenzo or
any of their respective Affiliates. As used herein, an "Affiliate" shall have
the meaning ascribed to such term in Rule 12b-2 of the General Rules and
Regulations under the Securities and Exchange Act of 1934, as amended.

      2.    PURCHASE OBLIGATION

            (a) Subject to the provisions of Section 3(b), within five (5) days
after the consummation of a Restricted Sale, the Restricted Person making such
Restricted Sale shall purchase from Livingston, to the extent then held by
Livingston, shares of Series C Stock having an aggregate value equal to the
following percentage of the net proceeds of such Restricted Sale to such
Restricted Person: (a) until such time as Livingston and its Affiliates have
received an aggregate of $2,500,000 in Covered Payments (as defined in Section
4(b)), fifty percent (50%); and (b) thereafter, thirty-three percent (33%).

            (b) Within five (5) days after his receipt of any cash dividends or
other distributions with respect to the Zenascent capital stock then held by
him, a Restricted Person shall purchase from Livingston, to the extent then held
by Livingston, Series C Stock having an aggregate value equal to fifty percent
(50%) of the net amount of such dividend or distribution.

            (c) The price per share of any Series C Stock purchased from
Livingston pursuant to this Section 2 shall be the liquidation value of such
Series C Stock.

      3.    DISTRIBUTION OF CERTAIN PROCEEDS

            (a) Within five (5) days after the consummation of a Transfer of
common stock, par value $0.01 per share, of Zenascent ("Zenascent Common Stock")
by a Restricted Person, such Restricted Person shall pay over to Livingston:

                  (i) in the event his Aggregate Proceeds (as hereinafter
      defined) after giving effect to such Transfer are greater than
      $10,000,000, ten percent (10%) of his net proceeds from such Transfer,
      provided that no payments shall be made pursuant to this Section 3(a)(i)
      in respect of Aggregate Proceeds in excess of $15,000,000; and

                  (ii) in the event his Aggregate Proceeds after giving effect
      to such Transfer are greater than $15,000,000, fifteen percent (15%) of
      his net proceeds from such Transfer (but only in respect of net proceeds
      from such Transfer for which payments were not made pursuant to Section
      3(a)(i)), provided that no payments shall be made pursuant to this Section
      3(a)(ii) in respect of Aggregate Proceeds in excess of $50,000,000.

            (b) In the event of any conflict or inconsistency between the
provisions of this Section 3 and the provisions of Section 2(a), the provisions
of this Section 3 shall govern.

            (c) As used herein, "Aggregate Proceeds" shall mean the aggregate of
the gross proceeds to the Restricted Person from all his Transfers of Zenascent
Common Stock.

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<PAGE>

      4.    TERMINATION

            (a) This Agreement shall terminate in accordance with the terms of
Section 4(b) hereof; provided that the provisions of Sections 3, 7(f) and 7(g)
shall survive the termination of this Agreement. The obligations of Kushner and
DiLorenzo pursuant to Section 2 shall terminate immediately upon the termination
of this Agreement.

            (b) This Agreement shall terminate immediately upon the receipt by
Livingston and its Affiliates, including but not limited to Mackin Charitable
Remainder Trust, a Florida trust ("Mackin"), of an aggregate of (i) $4,300,000
in Covered Payments (as hereinafter defined), if received not later than March
25, 2005 or (ii) $5,300,000 in Covered Payments, if received not later than
March 25, 2012. As used herein, "Covered Payments" shall mean all payments
pursuant to (1) this Agreement, (2) the Consulting Agreement, (3) the 10%
Promissory Note, made as of March 15, 2002, by Boxing to Mackin, (4) section
1.4(b) of the Agreement and Plan of Merger, dated as of March 8, 2002, by and
among Boxing, CKP, Big Content Acquisition Corp., a Delaware corporation, Big
Content, Mackin and Livingston, and (5) proceeds from the sale of Zenascent
Common Stock acquired pursuant to the warrant to purchase Zenascent Common Stock
issued to Livingston and/or its Affiliates pursuant to section 1.3(a)(iii) of
the Amended and Restated Agreement and Plan of Merger, dated as of February 21,
2002, by and among the Zenascent, Zenascent Newco Inc., a Delaware corporation,
Boxing, CKP, Cedric Kushner and James DiLorenzo.

      5.    REPRESENTATIONS AND WARRANTIES OF THE PARTIES

            (a)   Livingston  hereby  represents  and  warrants to Kushner and
DiLorenzo that:

                  (i)   it is a  limited  liability  company  duly  organized,
      validly  existing  and in good  standing  under the laws of the State of
      Delaware;

                  (ii) this Agreement has been duly executed and delivered by it
      and constitutes its legal, valid and binding obligation, enforceable
      against it in accordance with its terms, except as such enforceability may
      be affected by bankruptcy, insolvency, moratorium or similar laws
      affecting the rights of creditors generally and by the application of
      general principles of equity (whether in a proceeding in equity or at
      law);

                  (iii) its execution, delivery and performance of this
      Agreement will not conflict with or constitute a breach or default under
      or violate any agreement to which it is a party or by which any of its
      properties is bound, or any law, rule, regulation, order, writ, judgment,
      injunction, decree, determination or award applicable it or its
      properties; and

                  (iv) no consent, authorization, license, approval or other
      action by, and no notice to or filing or registration with, any court or
      governmental authority or regulatory body of any jurisdiction or any other
      third party is required for its valid execution, delivery or performance
      of this Agreement.

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<PAGE>

            (b)   Each  of  Kushner  and  DiLorenzo   hereby   represents  and
warrants to Livingston that:

                  (i) this Agreement has been duly executed and delivered by him
      and constitutes his legal, valid and binding obligation, enforceable
      against him in accordance with its terms, except as such enforceability
      may be affected by bankruptcy, insolvency, moratorium or similar laws
      affecting the rights of creditors generally and by the application of
      general principles of equity (whether in a proceeding in equity or at
      law);

                  (iii) his execution, delivery and performance of this
      Agreement will not conflict with or constitute a breach or default under
      or violate any agreement to which he is a party or by which any of his
      properties is bound, or any law, rule, regulation, order, writ, judgment,
      injunction, decree, determination or award applicable him or his
      properties; and

                  (iv) no consent, authorization, license, approval or other
      action by, and no notice to or filing or registration with, any court or
      governmental authority or regulatory body of any jurisdiction or any other
      third party is required for his valid execution, delivery or performance
      of this Agreement.

      6.    NOTICES

            All notices requests, demands, waivers and other communications
required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been duly given on the date if delivered personally, or
upon the next business day after it shall have been deposited with a nationally
recognized overnight courier (such as Federal Express), or sent by telecopier,
as follows (or at such other address or telecopier number for a party as shall
be duly specified by like notice):

            (a)   If to Kushner or DiLorenzo, to him at:

                  c/o Cedric Kushner Boxing, Inc.
                  1 Montauk Highway
                  Southampton, New York 11968
                  Telecopier:  (516) 726-7777,

                  with a copy to:

                  Greenberg Traurig, LLP
                  200 Park Avenue
                  New York, New York  10166
                  Attn:  Michael B. Solovay, Esq.
                  Telecopier:  (212) 801-6400

                                       4
<PAGE>

            (b)   If to Livingston, to it at

                  241 Bradley Place
                  Palm Beach, Florida  33480
                  Attn:  Chester F. English
                  Telecopier:  (561) 833-9060

                  with a copy to:

                  Law Offices of Harrison K. Chauncey
                  241 Bradley Place
                  Palm Beach, Florida 33480
                  Attn:  Mark R. Brown, Esq.
                  Telecopier:  (561) 833-9060

      7.    MISCELLANEOUS

            (a) This Agreement contains the entire agreement between the parties
hereto and supersedes all prior agreements and understandings, oral or written,
between the parties hereto with respect to the subject matter hereof.

            (b) This Agreement shall inure to the benefit of, and shall be
binding upon, the parties hereto and their respective successors, permitted
assigns, heirs and legal representatives, including any corporation or other
business organization with which Livingston may merge or consolidate.

            (c) This Agreement shall not be assigned or otherwise transferred by
a party (other than by Livingston to an Affiliate) without the prior written
consent of the other parties hereto.

            (d) This Agreement may not be changed, modified or extended except
upon written amendment executed by the Kushner, DiLorenzo and Livingston. The
waiver by a party of a breach of any of the provisions of this Agreement shall
not operate or be construed as a waiver of any subsequent breach hereof.

            (e) If any provision of this Agreement is held invalid or
unenforceable by any court or other tribunal of competent jurisdiction, the
other provisions of this Agreement will remain in full force and effect. Any
provision of this Agreement held invalid or unenforceable only in part or degree
will remain in full force and effect to the extent not held invalid or
unenforceable.

            (f) All questions or disputes pertaining to the validity,
construction, execution and performance of this Agreement shall be governed by
and construed in accordance with the laws of the State of New York without
regard to the conflicts of laws provisions thereof.

            (g) Each of the parties hereby agrees to (i) submit to the personal
jurisdiction of the United States District Court for the Southern District of
New York (and all appropriate appellate courts), or, if jurisdiction in such
court is lacking, any court of the State of New York

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<PAGE>

of competent jurisdiction sitting in New York County (and all appropriate
appellate courts), in connection with any action or dispute hereunder, and (ii)
irrevocably waive any objection it may now or hereafter have as to the venue of
any proceeding brought in any such court or that any such court is an
inconvenient forum. In the case any action or dispute shall be brought
hereunder, the losing party or parties thereto shall pay all attorney fees,
court costs and fees and costs of the prevailing party or parties thereto
incident to such action or dispute or the appeal thereof.

            (h) This Agreement may be executed in counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute
one and the same instrument.

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

/s/ Cedric Kushner
------------------------------------
CEDRIC KUSHNER

/s/ James DiLorenzo
------------------------------------
JAMES DILORENZO

LIVINGSTON INVESTMENTS, LLC

By:/s/ Chester F. English
------------------------------------
 Chester F. English, Managing Member

                                       6Exhibit 10.8

                          PLEDGE AND SECURITY AGREEMENT

      This PLEDGE AND SECURITY AGREEMENT (this "Agreement") is made and entered
into as of March 15, 2002 by and among Big Content, Inc., a Delaware corporation
("Big Content"), Mackin Charitable Remainder Trust, a Florida trust ("Mackin")
and Livingston Investments, LLC, a Florida limited liability company
("Livingston" and, together with Mackin, the "Secured Parties").

                                    RECITALS

      WHEREAS, Cedric Kushner Boxing, Inc., a Delaware corporation ("Boxing"),
Big Content, Livingston and Mackin are parties to an Agreement and Plan of
Merger, dated as of March 8, 2002, pursuant to which, on March 15, 2002, Big
Content became a wholly-owned subsidiary of Boxing (the "BC Merger Agreement");

      WHEREAS, pursuant to the terms of the BC Merger Agreement, (i) Boxing has
issued to Mackin a 10% Senior Promissory Note in the original principal amount
of $1,000,000 (the "Note") and (ii) Big Content and Livingston have entered into
a Consulting Agreement in the form provided in the BC Merger Agreement (the
"Consulting Agreement"), pursuant to which Livingston shall provide valuable
services to Big Content; and

      WHEREAS, Big Content has agreed, pursuant to the terms of the BC Merger
Agreement, to pledge its property and assets as collateral to secure both its
obligations to pay Livingston a weekly consulting fee pursuant to section
3(a)(i) of the Consulting Agreement and the monetary obligations of Boxing to
Mackin pursuant to the Note (collectively, the "Obligations").

      NOW, THEREFORE, in consideration of the premises and of the agreements
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each of Big Content, Mackin and
and Livingston hereby agrees as follows:

      1. Pledge and Grant of Security Interest. To secure the Obligations, Big
Content hereby pledges and assigns to the Secured Parties and grants to the
Secured Parties a continuing first-priority security interest in and
first-priority lien upon, subject to the limitations set forth herein, all of
Big Content's right, title and interest (but none of Big Content's obligations)
in and to (i) the film library of boxing programming owned by Big Content, on
all media, consisting of approximately 1,200 hours of boxing programming and the
other intellectual property of Big Content set forth on Schedule A hereto and
(ii) all replacements and substitutions for, and all accessions and additions
to, the foregoing. The property and assets described in clauses (i) and (ii) of
this Section 1 are referred to herein collectively as the "Collateral."

      2. Perfection of Security Interest. Big Content agrees to mark its books
and records as the Secured Parties shall request in order to reflect the rights
of the Secured Parties granted herein, and the Secured Parties may, in their
sole discretion under joint agreement, take possession of any of the Collateral
whose possession by the Secured Parties is necessary under Uniform Commercial
Code (as the same may be amended from time to time, the "UCC"), or other
applicable law, in order to perfect the lien granted hereunder with respect
thereto at any

<PAGE>

time, either prior to or subsequent to a default under any of the Obligations.
Moreover, Big Content authorizes the Secured Parties to file one or more
financing statements (pursuant to the UCC or otherwise) and any continuation
statements or amendments with respect thereto to perfect the security interests
granted herein without Big Content's signature thereon, and Big Content agrees
to do, file, record, make, execute and deliver all such acts, deeds, things,
agreements, notices, instruments, financing statements and continuation
statements as the Secured Parties may request in order to perfect and enforce
the rights of the Secured Parties herein.

      3. Representations and Warranties of Big Content. Big Content hereby
represents and warrants to the Secured Parties as follows:

      (a) It is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware and has the requisite power
under its certificate of incorporation and bylaws to own and operate its
properties, to carry on its business, to borrow money and create a lien on its
properties and to execute, deliver, and perform this Agreement.

      (b) The execution, delivery and performance by Big Content of this
Agreement has been duly authorized by all necessary corporate and other action,
do not require the consent or approval of any creditor of Big Content or any
other person that has not been duly obtained, and will not conflict with or
constitute a breach or default under or violate any provision of the certificate
of incorporation or bylaws of Big Content or any agreement to which it is a
party or by which any of its properties is bound, or any law, rule, regulation,
order, writ, judgment, injunction, decree, determination or award applicable to
Big Content or its properties.

      (c) This Agreement has been duly executed and delivered by Big Content and
constitutes the legal, valid and binding obligation of Big Content, enforceable
against it in accordance with its terms, except as such enforceability may be
affected by bankruptcy, insolvency, moratorium or similar laws affecting the
rights of creditors generally and by the application of general principles of
equity (whether in a proceeding in equity or at law).

      (d) Except for any notices of assignment to any contractual parties, no
consent, authorization, license, approval or other action by, and no notice to
or filing or registration with, any court or governmental authority or
regulatory body of any jurisdiction or any other third party is required for the
pledge and assignment of and grant of lien, in the Collateral by Big Content
pursuant to this Agreement or for the valid execution, delivery or performance
of this Agreement by Big Content.

      (e) Except for the security interest created by this Agreement and to be
created, Big Content is the sole legal and beneficial owner of and has good
title to the Collateral, free and clear of any lien, security interest, option
or other charge or other encumbrance (in any such case, an "Encumbrance").

      (f) No effective financing statement or other instrument creating or
perfecting an Encumbrance with respect to all or any part of the Collateral is
on file in any recording office, except such as may have been filed in favor of
the Secured Parties relating to this Agreement. The security interest granted to
the Secured Parties pursuant to this Agreement in and to the

<PAGE>

Collateral constitutes a valid and enforceable perfected security interest
therein superior and prior to the rights of all other Persons therein and
subject to no other Encumbrances.

      4. Remedies in Case of Default. (a) Upon the failure of Big Content to pay
any Obligation when becoming or made due, in accordance with its terms, which
failure is not cured within thirty (30) days after written notice of the same is
provided by a Secured Party (a "Default"), the Secured Parties shall each have,
in addition to all other rights and remedies allowed by law, the right to
exercise the following rights to the maximum extent permitted by applicable law:

            (i) to have and exercise all of the rights and remedies with respect
      to the Collateral of a secured party under the UCC and such additional
      rights and remedies to which a secured party is entitled under the laws in
      effect in any jurisdiction where any rights and remedies hereunder may be
      asserted, including, without limitation, the right, to the maximum extent
      permitted by law, to exercise all voting, consensual and other powers of
      ownership pertaining to the Collateral (whether or not transferred into
      the name of a Secured Party) as if the Secured Parties were the sole and
      absolute owners thereof (and Big Content agrees to take all such action as
      may be appropriate to give effect to such right, and hereby irrevocably
      constitutes and appoints Livingston the proxy and attorney-in-fact of Big
      Content, with full power of substitution, from and after the occurrence
      and during the continuance of a Default, to exercise all such voting,
      consensual and other powers of ownership);

            (ii) in its name or in the name of Big Content or otherwise, to
      demand, sue for, collect or receive any money or property at any time
      payable or receivable on account of or in exchange for any of the
      Collateral; or

            (iii) at any time or from time to time to sell, lease, assign and
      deliver, or grant options to purchase, or otherwise dispose of all or any
      part of such Collateral, at such place or places as the Secured Parties
      may determine, and for cash or on credit or for future delivery (without
      thereby assuming any credit risk), at public or private sale, without
      demand of performance or notice of intention to effect any such
      disposition or of the time or place thereof (except such notice as is
      expressly required hereunder or under applicable law), it being agreed
      that the purchaser, lessee, assignee or recipient of any or all of the
      Collateral so disposed of at any public sale (or, to the extent permitted
      by applicable law, at any private sale) of the Collateral (a "Foreclosure
      Sale") may thereafter hold the same absolutely, free from any claim or
      right of whatsoever kind, including any right or equity of redemption
      (statutory or otherwise), of Big Content and any obligation to see to the
      application of any part of the purchase money paid therefor or any
      liability for the misapplication or non-application thereof.

      (b) the Secured Parties may, without notice or publication, adjourn any
public or private Foreclosure Sale or cause the same to be adjourned from time
to time by announcement at the time and place fixed for such sale, and such sale
may be made at any time or place to which the same may be so adjourned. All cash
proceeds received by the Secured Parties in respect of any Foreclosure Sale of,
collection from, or other realization upon all or any part of the Collateral may
be applied in whole or part to the Obligations in any manner elected by the

<PAGE>

Secured Parties which is permitted by applicable law. Any surplus of such cash
or cash proceeds and interest accrued thereon, if any, held by the Secured
Parties and remaining after payment in full of all the Obligations shall
promptly be paid over to Big Content; provided that the Secured Parties shall
have no obligation to invest or otherwise pay interest on any amounts held by it
in connection with a Foreclosure Sale. the Secured Parties will not in any event
be liable for failure to collect or realize upon any or all of the Collateral or
for any delay in so doing, nor shall the Secured Parties be under any obligation
to take any action whatsoever with regard thereto.

      (c) Each right, power and remedy of the Secured Parties provided for in
this Agreement, or now existing or hereafter available at law or in equity or by
statute or otherwise, shall be cumulative and concurrent and shall be in
addition to every other such right, power or remedy. The exercise or beginning
of the exercise by the Secured Parties of any one or more of such rights, powers
or remedies shall not preclude the simultaneous or later exercise by the Secured
Parties of all such other rights, powers or remedies, and no course of dealing
or failure or delay on the part of the Secured Parties in exercising any such
right, power or remedy shall operate as a waiver thereof or otherwise prejudice
the rights, powers or remedies of the Secured Parties.

      (d) the Secured Parties may be purchasers of the Collateral, or any part
thereof, at any Foreclosure Sale, and may bid for and acquire all or any part of
the Collateral and in lieu of paying cash therefor may make settlement for the
purchase price by crediting upon the Obligations the fair market value of the
Collateral and returning any excess proceeds to Big Content.

      5. Certain Covenants of Big Content. (a) Big Content shall give the
Secured Parties prompt notice of any written claim relating to the Collateral.
Big Content shall deliver to the Secured Parties a copy of each of the demand,
notice or document received by it which could reasonably be expected to
adversely affect the Secured Parties' interest in the Collateral promptly upon
Big Content's receipt thereof. Big Content from time to time will furnish to the
Secured Parties such information and reports regarding the Collateral as the
Secured Parties may reasonably request.

      (b) Big Content shall keep its principal place of business and chief
executive office and the office where it keeps its records concerning the
Collateral at the location therefor specified in Section 7(d) or, upon ten days'
prior written notice to a Secured Party, at such other location in a
jurisdiction where all action required to perfect the security interest granted
to the Secured Parties hereunder shall have been taken with respect to the
Collateral.

      (c) Except as otherwise permitted hereunder, Big Content shall not: (i)
sell, assign (by operation of law or otherwise), transfer, convey or otherwise
dispose of, or grant any option with respect to, all or any part of the
Collateral, other than in the ordinary course of business, without the prior
written consent of the Secured Parties (which consent shall not be unreasonably
withheld); or (ii) create, incur, assume or permit to exist any Encumbrance,
upon or with respect to any of the Collateral, nor file, nor permit to be at any
time on file in any recording office, any effective financing statement or other
instrument creating or perfecting a security interest with respect to all or any
part of the Collateral, except such as may at any time be filed in favor of a
Secured Party relating to this Agreement.

<PAGE>

      6. Continuing Security Interest. This Agreement shall create a continuing
security interest in the Collateral and shall (a) remain in full force and
effect until indefeasible payment in full of the Obligations, (b) be binding
upon Big Content, its legal representatives, successors and assigns, and (c)
inure, together with the rights and remedies of the Secured Parties hereunder,
to the benefit of the Secured Parties, their successors, transferees and
assigns. Upon the indefeasible payment in full in cash of the Obligations, the
lien granted hereby shall terminate and all rights of the Secured Parties in the
Collateral shall revert to Big Content. Upon any such termination, the Secured
Parties will, at Big Content's expense, execute and deliver to Big Content such
documents and take such actions as shall be necessary or as Big Content shall
reasonably request to evidence or effect such termination and reversion.

      7. Miscellaneous. (a) Unless otherwise defined or the text otherwise
requires, all terms used herein shall have the meanings specified in the UCC.

      (b) This Agreement may not be assigned by a party (other than to an
Affiliate (as hereinafter defined)) without the prior written consent of the
other party. As used herein, an "Affiliate" shall mean shall mean, with respect
to any specified person, another person that directly, or indirectly through one
or more intermediaries, controls, is controlled by, or is under common control
with, the person specified (as used in this sentence, (i) "control" shall mean
the possession, directly or indirectly, of the unilateral power to cause the
direction of the management and policies of a person, whether through the
ownership of voting securities, by contract or otherwise and (ii) "person" shall
mean an individual, partnership, joint venture, firm, corporation, association,
trust or other enterprise or any government or political subdivision or any
agency, department or instrumentality thereof).

      (c) Every provision of this Agreement is intended to be severable; if any
term or provision of this agreement shall be invalid, illegal or unenforceable
for any reason whatsoever, the validity, legality and enforceability of the
remaining provisions hereof shall not in any way be affected or impaired
thereby.

      (d) All notices requests, demands, waivers and other communications
required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been duly given on the date if delivered personally, or
upon the next business day after it shall have been deposited with a nationally
recognized overnight courier (such as Federal Express), or sent by telecopier,
as follows (or at such other address or telecopier number for a party as shall
be duly specified by like notice):

        (a) if to Big Content, to it at:   with a copy to:

        c/o Cedric Kushner Boxing, Inc.    Greenberg Traurig, LLP
        1 Montauk Highway                  200 Park Avenue
        Southampton, New York 11968        New York, New York 10166
        Attn:  James DiLorenzo, President  Attn:  Michael B. Solovay, Esq.
        Telecopier:  (516) 726-7777        Telecopier:  (212) 801-6400

<PAGE>

        (b) if to a Secured Party, to      with a copy to:
        it at:

        241 Bradley Place                  Law Offices of Harrison K. Chauncey
        Palm Beach, Florida 33480          241 Bradley Place
        Attn:  Mark R. Brown, Esq.         Palm Beach, Florida 33480
        Telecopier:  (561) 833-9060        Attn:  Mark R. Brown, Esq.
                                           Telecopier:  (561) 833-9060

      (e) This Agreement shall be construed and interpreted, and all rights and
obligations hereunder shall be determined, in accordance with the laws of the
State of New York without regard to the conflict of laws principles thereof.
Each of the parties hereby agrees to (i) submit to the personal jurisdiction of
the United States District Court for the Southern District of New York (and all
appropriate appellate courts), or, if jurisdiction in such court is lacking, any
court of the State of New York of competent jurisdiction sitting in New York
County (and all appropriate appellate courts), in connection with any action or
dispute hereunder, and (ii) irrevocably waive any objection it may now or
hereafter have as to the venue of any proceeding brought in any such court or
that any such court is an inconvenient forum. In the case any action or dispute
shall be brought hereunder, the losing party or parties thereto shall pay all
attorney fees, court costs and fees and costs of the prevailing party or parties
thereto incident to such action or dispute or the appeal thereof.

      (f) This Agreement may be executed in any number of counterparts and/or
delivered via facsimile, each of which counterparts shall be deemed to be an
original, and all of which together shall be deemed to be one and the same
instrument.

                    [Signatures appear on the following page]

<PAGE>

      IN WITNESS WHEREOF, each of the undersigned has signed or has caused this
Agreement to be signed by their respective officers hereunto duly authorized,
all as of the date first written above.

BIG CONTENT, INC.

By:/s/ James DiLorenzo
   ---------------------------------
      Name: James DiLorenzo
      Title:  President

MACKIN CHARITABLE
REMAINDER TRUST

By: /s/ Adrenee English
   ---------------------------------
      Name: Adrenee English
      Title: Trustee

LIVINGSTON INVESTMENTS, LLC

By:/s/ Chester F. English
   ---------------------------------------
      Chester F. English, Managing Member

<PAGE>

                                                                      Schedule A

                   INTELLECTUAL PROPERTY OF BIG CONTENT, INC.

1.    A film library of boxing programming consisting of approximately 1,200
      hours of boxing programming on various media.

2.    Big Content trademarks.

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