Document:

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                                                                    EXHIBIT 10.9

                              AMENDED AND RESTATED
                        UNANIMOUS SHAREHOLDERS AGREEMENT
                            OF CORPORATION CINEGROUPE

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                                TABLE OF CONTENTS

ARTICLE 1  RECITALS, DEFINITIONS AND INTERPRETATION                            4

ARTICLE 2  CONTRIBUTION OF THE SHAREHOLDERS                                   10

ARTICLE 3  RESTRICTIONS ON TRANSFER OF SHARES                                 11

ARTICLE 4  ISSUANCE OF SHARES                                                 14

ARTICLE 5  RIGHTS OF FIRST REFUSAL                                            16

ARTICLE 6  RIGHTS OF PETTIGREW AND PETTIGREW'S CORPORATION TO PURCHASE
           ALL SHARES AND/OR CONVERTIBLE DEBENTURE COVERED BY AN
           OFFEROR'S OFFER MADE TO CINEPIX (AND ITS SUCCESSORS)               18

ARTICLE 7  FINANCIAL REPORTING                                                20

ARTICLE 8  FORCED SALE OPTION                                                 21

ARTICLE 9  DEATH OR DISABILITY OF PETTIGREW                                   23

ARTICLE 10 LIFE INSURANCE AND DISABILITY INSURANCE                            23

ARTICLE 11 CHANGE OF CONTROL OF CINEPIX                                       25

ARTICLE 12 DEFAULT                                                            27

ARTICLE 13 VALUATION                                                          29

ARTICLE 14 CLOSING                                                            30

ARTICLE 15 CONDUCT OF THE AFFAIRS OF THE CORPORATION                          31

ARTICLE 16 TRANSFER OF VOTING RIGHTS; CONVERSION OF SHARES; QUEBEC
           CONTROL; SHARES IN TRUST                                           38

ARTICLE 17 FINANCING                                                          41

ARTICLE 18 ADDITIONAL FINANCING                                               41

ARTICLE 19 UNDERTAKINGS OF THE CORPORATION                                    43

ARTICLE 20 UNDERTAKINGS IN CASE OF A PUBLIC LISTING                           43

ARTICLE 21 REPRESENTATIONS AND WARRANTIES                                     44

ARTICLE 22 CONFIDENTIALITY                                                    45

ARTICLE 23 NON-SOLICITATION                                                   46

ARTICLE 24 ARBITRATION                                                        47

ARTICLE 25 GENERAL                                                            48

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AMENDED AND RESTATED UNANIMOUS SHAREHOLDERS AGREEMENT made as of the
10th day of July, 2001

BETWEEN:                 ANIMATION CINEPIX INC., a body corporate, incorporated
                         under the Canada Business Corporations Act and
                         represented by Andre Link, its President, duly
                         authorized as he so declares;

                         (hereinafter referred to as "CINEPIX")

                                                               OF THE FIRST PART

AND:                     JACQUES PETTIGREW, businessman, residing at 1835 du
                         Sommet Trinite Street, St-Bruno, Quebec J3V 6E4;

                         (hereinafter referred to as "PETTIGREW")

                                                              OF THE SECOND PART

AND:                     ROBERT PAUL, in his capacity as trustee of the Faire
                         Trust, a trust governed by the laws of the Province of
                         Ontario and not in his personal capacity;

                         (hereinafter referred to as "FAIRE TRUST")

                                                               OF THE THIRD PART

AND:                     FOX FAMILY WORLDWIDE, INC., a body corporate,
                         incorporated under the laws of the State of Delaware,
                         U.S.A., and represented by Mel Woods, its President;

                         (hereinafter referred to as "FOX FAMILY")

                                                              OF THE FOURTH PART

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AND:                     FIDUCIE FAMILLE PETTIGREW, a trust created and governed
                         by the laws of the Province of Quebec and represented
                         by Jacques Pettigrew and Jacqueline Pettigrew, duly
                         authorized as they so declare;

                         (hereinafter referred to as "FIDUCIE PETTIGREW")

                                                               OF THE FIFTH PART

AND:                     SGF TECH INC., a body corporate duly incorporated under
                         the Companies Act (Quebec) and represented by
                         Jean-Pierre Frechette, its Vice President, Development,
                         and by Andre Roy, Senior Vice President, Administration
                         of Societe Generale de Financement du Quebec, duly
                         authorized as they so declare;

                         (hereinafter referred to as "SGF TECH")

                                                               OF THE SIXTH PART

                         (Cinepix, Pettigrew, Faire Trust, Fox Family, Fiducie
                         Pettigrew and SGF Tech and any other shareholder bound
                         by this Amended and Restated Agreement are collectively
                         hereinafter referred to as the "SHAREHOLDERS" and each
                         one of the Shareholders may also be referred to
                         hereinafter as the "SHAREHOLDER")

AND AS INTERVENING PARTIES:

                         CORPORATION CINEGROUPE, a corporation duly incorporated
                         under the Companies Act (Quebec) and represented by
                         Jacques Pettigrew, its President and by Andre Link, its
                         Secretary-Treasurer, duly authorized as they so
                         declare;

                         (hereinafter referred to as "CORPORATION")

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                                                                               3

                         LIONS GATE ENTERTAINMENT CORP., a body corporate,
                         incorporated under the laws of the Province of British
                         Columbia and represented by Gordon Keep, its Senior
                         Vice-President, duly authorized as he so declares;

                         (hereinafter referred to as "LIONS GATE")

WHEREAS the articles of incorporation of the Corporation, as amended, have been
amended so as to create Class E Shares which are voting and participating Shares
ranking for some of their rights senior to Class A Shares, Class B Shares, Class
C Shares, Class D Shares, Class F Shares and Class P Shares, are retractable and
exchangeable (the "ARTICLES");

WHEREAS the authorized share capital of the Corporation now consists of an
unlimited number of Class A Shares, Class C Shares, Class D Shares, Class E
Shares and Class F Shares, a number limited to 100,000 Class B Shares and a
number limited to 100,000 Class P Shares, all without par value, of which,
206,000 Class A Shares, 22,001 Class B Shares, 84,000 Class P Shares and 168,007
Class E Shares are issued and outstanding;

WHEREAS, as of this date, the following persons are the beneficial owners of the
number and Class of issued and outstanding Shares of the share capital of the
Corporation (except in the case of Faire Trust wherein the beneficial owners of
the Shares are the beneficiaries of Faire Trust), as hereinafter set forth.

<TABLE>
<CAPTION>

=================================================================================================================
                                    CLASS A SHARES       CLASS B SHARES       CLASS P SHARES       CLASS E SHARES
-----------------------------------------------------------------------------------------------------------------

<S>                                        <C>                   <C>                  <C>                <C>
Animation Cinepix Inc.                     119,000               22,001
-----------------------------------------------------------------------------------------------------------------
Jacques Pettigrew                                                                     77,520
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Fiducie Famille Pettigrew                                                              6,480
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Fox Family Worldwide, Inc.                  58,000
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SGF Tech Inc.                                                                                             168,007
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Robert Paul, as trustee of                  29,000
Faire Trust
-----------------------------------------------------------------------------------------------------------------
TOTAL                                      206,000               22,001               84,000              168,007
=================================================================================================================
</TABLE>

WHEREAS the Convertible Debenture, as this expression is defined in Subsection
1.2.20 is, as of this date, of a principal amount of Two Million Eight Hundred
Ninety-Nine Thousand and Nine Hundred Fifty Canadian Dollars (CDN$2,899,950);

WHEREAS the Lions Gate Debenture, as defined in Subsection 1.2.34, is, as of
this date, of the principal amount of Four Million Canadian Dollars
(CDN$4,000,000);

WHEREAS other than as noted above and for the Option to Faire Trust and the
Option to Pettigrew and the anti-dilution right of SGF Tech provided by the
Articles, there are no other issued and outstanding Shares, Securities,
debentures or Convertible Securities of the Corporation;

WHEREAS the Corporation carries on the business of producing and distributing
movies, television series, mini-series, motion pictures, films, videotapes,
animated productions or other programs

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produced for television or theatrical release or for release in any other
medium, whether theatrically released or shown on network, free or cable, pay
and/or other television medium or in the home-movie market, and all ancillary
activities relating thereto, specifically within the fields of animation,
children and family, and documentary products and activities as well as numeric
studios, interactive and multi-media products (hereinafter the "BUSINESS");

WHEREAS each of the Shareholders wishes to provide for the manner in which the
affairs of the Corporation shall be conducted, their obligations with respect to
the Corporation and the disposition of their Shares in the Corporation on the
happening of certain events as well as various other issues;

WHEREAS a unanimous shareholders' agreement was entered into on June 23, 1998 by
the Shareholders, except Fiducie Pettigrew and SGF Tech, the Corporation, Lions
Gate, Lions Gate Films Corp., Cinepix Films Inc. and Cinepix Inc. (the "FORMER
AGREEMENT");

WHEREAS Fiducie Pettigrew, who subsequently to June 23, 1998 became a
Shareholder, has agreed by an instrument in writing to be bound by and to
benefit of the provisions of the Former Agreement;

WHEREAS the Former Agreement was amended as of September 8, 2000 by way of
incorporating said amendments therein (the "FIRST AMENDMENT");

WHEREAS the Former Agreement was further amended on September 8, 2000 (the
"SECOND AMENDMENT");

WHEREAS the Shareholders wish to restate and amend the Former Agreement, as
amended by the First Amendment and the Second Amendment, so as to reflect the
provisions of the letter of intent executed by SGF Tech and the Corporation on
December 8, 2000, as amended on February 16, 2001, and by subsequent discussions
and the subscription made by SGF Tech under the Subscription Agreement.

               Article 1 RECITALS, DEFINITIONS AND INTERPRETATION

1.1  The recitals and the following schedules form an integral part of this
     Amended and Restated Agreement:

     Schedule 1.2.20 : Convertible Debenture

     Schedule 1.2.26 : Employment Agreement of Pettigrew

     Schedule 1.2.34 : Lions Gate Debenture

     Schedule 1.2.37 : Option to Faire Trust

     Schedule 1.2.38 : Option to Pettigrew

     Schedule 3.1    : Put Agreement between Lions Gate and Fox Family, as
                       amended, and Put Assignment Agreement, as amended

     Schedule 15.1   : List of Competitors

1.2  In this Amended and Restated Agreement, unless something in the subject
     matter or context is inconsistent therewith:

     1.2.1     "ACCEPTABLE SECURITIES" means securities listed on an Acceptable
               Stock Exchange, where, at the relevant time:

               (1)  such securities will be immediately freely tradeable upon
                    their acquisition;

               (2)  the market capitalization of all such securities of an
                    issuer shall be not less than one hundred million Canadian
                    dollars (CDN $100,000,000);

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               (3)  such securities are securities of a corporation of which not
                    less than twenty percent (20%) of all its outstanding
                    securities are so listed and freely tradeable; and

               (4)  the monthly weighted average trading volume of such
                    securities exceeds five percent (5%) of the total issued and
                    outstanding securities of a corporation; or

               (5)  securities which are immediately freely tradeable in Canada
                    upon their acquisition where, at the time of their
                    acquisition, a positive liquidity opinion as provided by
                    Rule 61-501 of the Ontario Securities Commission from a
                    member of the Acceptable Stock Exchange where the securities
                    are listed is given to the Corporation and its Shareholders.

     1.2.2     "ACCEPTABLE STOCK EXCHANGE" means The Toronto Stock Exchange, the
               New York Stock Exchange, NASDAQ or the Canadian Venture Exchange
               Inc. (CDNX), or any successor thereto;

     1.2.3     "AFFILIATE" has the meaning ascribed to such term in the
               Securities Act (Quebec) as in effect at the date hereof;

     1.2.4     "AMENDED AND RESTATED AGREEMENT" means, unless the context
               otherwise requires, this Amended and Restated Unanimous
               Shareholders Agreement and the schedules attached hereto;

     1.2.5     "APPLICABLE FISCAL LAW" means the Income Tax Act (Canada), as
               amended or replaced;

     1.2.6     "APPLICABLE LAW" means any domestic or foreign statute, law,
               ordinance, regulation, by-law or order that applies to the
               Corporation or any of its Subsidiaries;

     1.2.7     "AUDITORS" means the auditors of the Corporation and shall be
               deemed to include the accountants of the Corporation where the
               Corporation has not appointed auditors;

     1.2.8     "BOARD" means the board of directors of the Corporation;

     1.2.9     "BUSINESS" has the meaning ascribed to such term in the recitals
               hereto;

     1.2.10    "BUSINESS DAY" means a day which is not Saturday, Sunday or a
               civic or statutory holiday in Montreal, Quebec;

     1.2.11    "CANADIAN TAX CREDITS" includes any and all tax credits,
               benefits, capital cost allowances, advantages, grants or
               subsidies of any sort, existing or not at the date hereof, which
               are or may become available to the Corporation and which relate
               directly and are available exclusively to businesses that conduct
               the Business (in whole or in part), including those currently
               provided by, or arising from (without limitation), Sections 125.4
               and 125.5 of the Income Tax Act (Canada), Regulation 1100 and
               Proposed Regulation 1106 of the Income Tax Regulations, as
               amended from time to time, or any replacement legislation or
               regulation, as the case may be;

     1.2.12    "CLASS A SHARE(S)" means one or more Class A Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

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     1.2.13    "CLASS B SHARE(S)" means one or more Class B Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

     1.2.14    "CLASS C SHARE(S)" means one or more Class C Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

     1.2.15    "CLASS D SHARE(S)" means one or more Class D Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

     1.2.16    "CLASS E SHARE(S)" means one or more Class E Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

     1.2.17    "CLASS F SHARE(S)" means one or more Class F Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

     1.2.18    "CLASS P SHARE(S)" means one or more Class P Share(s) in the
               share capital of the Corporation as constituted at the date of
               this Amended and Restated Agreement;

     1.2.19    "CONTROL" (and "CONTROLLING"), whether used as a noun or verb,
               means the de jure and/or de facto control of a partnership, joint
               venture, corporation, trust or other entity (hereafter in this
               definition the "ENTITY"), consisting of (i) the right (whether
               through agreements or by law) to a majority of the votes in the
               election of the board of directors of the Entity; or (ii) the
               right (whether through agreements or by law) to direct the
               majority of members of the board of directors of the Entity in
               the exercise of their discretion and powers;

     1.2.20    "CONVERTIBLE DEBENTURE" means the non-secured and convertible
               debenture of a value of Two Million Eight Hundred Ninety-Nine
               Thousand and Nine Hundred Fifty Canadian Dollars (CDN$2,899,950),
               in capital, issued by the Corporation to Cinepix, which under
               certain conditions, is convertible for each Fifty Canadian
               Dollars (CDN$50) of capital into one (1) Class B Share or Class A
               Share, as the case may be; copy of said Convertible Debenture is
               attached hereto as Schedule 1.2.20;

     1.2.21    "CONVERTIBLE SECURITY" means a security of a body corporate,
               including a debt obligation, which is convertible into,
               exchangeable for or which carries a right or obligation to
               purchase, one or more Shares, voting securities or participating
               securities of such body corporate, including, for greater
               certainty, options and warrants;

     1.2.22    "DIRECTOR" or "DIRECTORS" means a member or members of the Board;

     1.2.23    "DISABILITY" means, in respect of Pettigrew, (a) the physical or
               mental disability of Pettigrew, whether caused by accident,
               illness or otherwise, arising during the time Pettigrew is an
               employee of the Corporation and resulting in the fact that
               Pettigrew cannot for any consecutive period of two (2) years
               perform all his then duties and responsibilities as employee of
               the Corporation, as determined in

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               writing by a doctor jointly retained by SGF Tech (if it is a
               Shareholder), the Corporation and Pettigrew, or (b) the fact that
               a court of competent jurisdiction has declared Pettigrew to be
               mentally incompetent or incapable of managing his affairs, or (c)
               if the Corporation has disability insurance, the definition of
               permanent disability as provided in such disability insurance;

     1.2.24    "DISPOSE" and "DISPOSITION" means to sell, transfer, exchange,
               give, dispose of or otherwise assign in any manner whatsoever
               (including, without limitation, the grant of rights with respect
               to property) or any attempt to perform any of the foregoing
               actions;

     1.2.25    "EMERGENCY LOAN" has the meaning ascribed to such terms in
               Subsection 18.1.1;

     1.2.26    "EMPLOYMENT AGREEMENT" means the employment agreement entered
               into by the Corporation and Pettigrew under the agreement
               reproduced in Schedule 1.2.26 as amended from time to time;

     1.2.27    "ENCUMBER" means to hypothecate, mortgage, encumber with a
               charge, lien, priority, appropriation or option or otherwise to
               give as security or to encumber in any manner whatsoever, or any
               attempt to perform any of the foregoing actions;

     1.2.28    "FAIR MARKET VALUE" means the price determined in an open and
               unrestricted market between informed and prudent parties, acting
               at arm's length and under no compulsion to act, expressed in
               terms of money; the Fair Market Value shall be determined by
               reference to the aggregate price at which the Corporation (i.e.
               the Corporation and its Subsidiaries, as a whole), as a going
               concern, could be sold in an arm's length transaction to an
               unaffiliated bona fide third party in an orderly sale without
               regard to the lack of liquidity of its capital stock;
               specifically, no discount or premium will be applied (including
               for majority or minority stake);

     1.2.29    "GAAP" means generally accepted accounting principles from time
               to time approved by the Canadian Institute of Chartered
               Accountants, or any successor institute, applicable as at the
               date on which any calculation or determination is required to be
               made in accordance with generally accepted accounting principles,
               and where the Canadian Institute of Chartered Accountants
               includes a recommendation in its Handbook concerning the
               treatment of any accounting matter, such recommendation shall be
               regarded as the only generally accepted accounting principle
               applicable to the circumstances that it covers;

     1.2.30    "GOOD FAITH OFFER" means:

               (1)  an offer which is addressed in writing by a Third Party or
                    any Shareholder to a Shareholder for the Disposition of all,
                    and not less than all, of the Shares held by such
                    Shareholder; or

               (2)  an offer which is addressed in writing by a Shareholder to a
                    Third Party or any other Shareholder for the Disposition of
                    all and not less than all of his or its Shares;

               (3)  in respect of which, the purchase price of the Shares, if
                    any, is payable as follows:
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                    A) not less than 75% in cash;

                    B) not more than 25% in Acceptable Securities; for the
                    purposes of the rights of first refusal pursuant to Article
                    5 of this Amended and Restated Agreement, such portion of
                    the purchase price which is payable in Acceptable Securities
                    shall be deemed to be payable in cash and to be equal to the
                    weighted average of the closing price of such Acceptable
                    Securities for the past twenty (20) trading days as at the
                    date immediately preceding the date of the Good Faith Offer;
                    and in respect of which there accrues to the Shareholder no
                    collateral benefit other than the purchase price of the
                    Shares; and which contains no conditions (except with
                    respect to the amount of the purchase price and its payment)
                    which one or more of the Parties, as the case may be, would
                    be unable to meet; or

               (4)  an offer which is addressed in writing by a Third Party or
                    any Shareholder to a Shareholder for the Disposition of all
                    and not less than all, of the Shares held by such
                    Shareholder, which offer is duly accepted by all
                    Shareholders.

     1.2.31    "GROUP" means the Corporation and its Subsidiaries;

     1.2.32    "INTER-CORPORATION ARRANGEMENTS" has the meaning ascribed to such
               terms in Subsection 15.1.22;

     1.2.33    "LENDING SHAREHOLDER" has the meaning ascribed to such terms in
               Section 18.1;

     1.2.34    "LIONS GATE DEBENTURE" means the non-secured convertible
               debenture expiring no later than June 30, 2004, unless such
               debenture is repaid by the Corporation, of a face value of Four
               Million Canadian Dollars (CDN$4,000,000), in capital, issued by
               the Corporation to Lions Gate, as amended as of the date hereof;
               a copy of the Lions Gate Debenture is attached hereto as Schedule
               1.2.34;

     1.2.35    "MATERIAL" or "MATERIALLY" means, if convertible into an amount
               of money, an event having an adverse financial consequence of at
               least One Hundred Thousand Canadian Dollars (CDN$100,000) with
               respect to the Corporation and, if the context does not permit an
               evaluation of materiality in a monetary sense, a circumstance or
               event which would reasonably be considered to adversely affect
               the decision of a Third Party, acting reasonably;

     1.2.36    "OFFICER" means a person holding a management or executive
               position, including a position considered as such in accordance
               with the then existing rules and practices applicable in the
               Business of the Corporation, within the Corporation, and includes
               a Senior Officer;

     1.2.37    "OPTION TO FAIRE TRUST" means the option granted to Faire Trust
               under the agreement, a copy of which is attached hereto as
               Schedule 1.2.37;

     1.2.38    "OPTION TO PETTIGREW" means the option granted to Pettigrew under
               the agreement, a copy of which is attached hereto as Schedule
               1.2.38;

     1.2.39    "PARTIES" means, collectively, the Shareholders, Lions Gate and
               the Corporation;
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                                                                               9

        1.2.40  "PERSON" shall be broadly interpreted and includes an
                individual, body corporate, partnership, joint venture, trust,
                association, unincorporated organization, the Crown, any
                governmental authority or any other entity recognized by law;

        1.2.41  "PETTIGREW'S CORPORATION" has the meaning ascribed to such term
                in Section 3.2;

        1.2.42  "PROPORTIONAL SHARE OF THE EMERGENCY LOAN" has the meaning
                ascribed to such term in Section 18.3;

        1.2.43  "PRO RATA BASIS" means the proportion that the number of Class A
                Shares, Class B Shares, Class P Shares and Class E Shares held
                by a Shareholder bears to the total number of outstanding Class
                A Shares, Class B Shares, Class P Shares and Class E Shares,
                established as if Class E Shares held by SGF Tech would have
                been exchanged into Class A Shares, pursuant to the Articles;

        1.2.44  "PUBLIC LISTING" means an underwritten treasury initial public
                offering of Class A Shares or any other event resulting in the
                Class A Shares being traded on an Acceptable Stock Exchange and
                having total net proceeds to the Corporation (prior to
                underwriting commissions and offering expenses) of at least
                CDN$10,000,000;

        1.2.45  "PURCHASER", unless the context otherwise requires, means the
                acquirer of Shares pursuant to this Amended and Restated
                Agreement;

        1.2.46  "QUEBEC OFFICER" means an Officer who is a Quebec Resident;

        1.2.47  "QUEBEC RESIDENT" means a person domiciled in the Province of
                Quebec who also complies with all the requirements to qualify
                the Corporation and its Business for the Quebec Tax Credits and,
                for greater certainty, excludes any person who is not resident
                in Quebec for purposes of Section 1029.8.34 and following of the
                Taxation Act (Quebec) (R.S.Q., c. I-3) and any person not
                domiciled in the Province of Quebec for the prescribed periods
                under the Regulation respecting the recognition of films as
                Quebec films, adopted pursuant to the Cinema Act (Quebec)
                (R.S.Q., c. C-18.1), as amended or replaced;

        1.2.48  "QUEBEC TAX CREDITS" includes any and all tax credits, benefits,
                capital cost allowances, advantages, grants or subsidies of any
                sort, existing or not at the date hereof, which are or may
                become available to the Corporation and its Subsidiaries
                relating directly and available exclusively to the Business
                conducted by each of the Corporation and its Subsidiaries (in
                whole or in part), including those currently provided by, or
                arising from (without limitation), Sections 1029.8.34 through
                1029.8.36.0.16 (inclusive) as well as 1129.1 through 1129.4.3.17
                (inclusive) of the Taxation Act (Quebec) and Regulations 130 R
                55.3.1 through 130 R 55.6.1 (inclusive), 1029.8.34R1 as well as
                1029.8.34R2 of the Regulation respecting the Taxation Act
                (Quebec), as amended from time to time, or any replacement
                legislation or regulation, as the case may be;

        1.2.49  "RELATED PARTY" with respect to another Person (the "Other
                Person") means (i) a Person who/which does not deal at arm's
                length with the Other Person or with the Person described in
                subparagraph (ii) of this definition, within the meaning of the
                Applicable Fiscal Law; (ii) a Subsidiary of the Other Person;
                (iii) a Person in relation to whom/which the Other Person is a
                Subsidiary or (iv) a Person

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                                                                              10

                who/which is an Affiliate of the Other Person. Notwithstanding
                the foregoing, a Related Party of the Corporation shall
                exclude the Subsidiaries of the Corporation and their
                Subsidiaries;

        1.2.50  "SECURITIES" means any rights, warrants or options to acquire
                Shares or other Convertible Securities of the Corporation or
                which are exchangeable or convertible into Shares or Convertible
                Securities of the Corporation;

        1.2.51  "SENIOR OFFICER" means an Officer holding a senior position
                within the Corporation, including the offices of chairman of the
                board, president, chief executive officer, chief operating
                officer, general manager, chief financial officer,
                vice-presidents and treasurer;

        1.2.52  "SHAREHOLDERS" has the meaning ascribed to it in the preamble
                and any other Person bound by this Amended and Restated
                Agreement which becomes a holder of Shares;

        1.2.53  "SHARES" means any share or shares in the share capital of the
                Corporation now or at any time hereafter owned by the
                Shareholders and excludes options to buy Shares pursuant to the
                Option to Pettigrew, the Option to Faire Trust and the Stock
                Option Plan;

        1.2.54  "STOCK OPTION PLAN" means the stock option plan for Directors
                and Senior Officers of the Corporation and its Subsidiaries
                which shall be put into place on or before December 31, 2001, as
                provided in Section 6.12 of the Subscription Agreement;

        1.2.55  "SUBSCRIPTION AGREEMENT" means the subscription agreement
                entered into by SGF Tech and the Corporation, as of the date
                hereof, and to which intervened Cinepix, Pettigrew and Fiducie
                Pettigrew pursuant to which SGF Tech subscribed for one hundred
                sixty-eight thousand and seven (168,007) Class E Shares;

        1.2.56  "SUBSIDIARY" has the meaning ascribed to such term in the
                Securities Act (Quebec) as in effect as the date hereof;

        1.2.57  "THIRD PARTY" means any Person who is not a Shareholder, the
                Corporation, an Affiliate of the Corporation or a Related Party
                of a Shareholder, the Corporation or an Affiliate of the
                Corporation.

                   Article 2 CONTRIBUTION OF THE SHAREHOLDERS

2.1     Subject to Section 2.2 in the case of Fox Family, the Shareholders of
        the Corporation hereby undertake to contribute, on a reasonable basis,
        to the Business of the Corporation, to enable the Corporation to have
        access to their own network of contacts and markets and, subject to
        execution of appropriate agreements, to allow the Corporation to benefit
        from their own expertise in so far as it can be useful to the
        Corporation in the operation of the Business.

2.2     Fox Family acknowledges that the Corporation has issued Shares of its
        Class A capital to Fox Family in order to induce Fox Family to continue
        to contract with the Corporation to produce or co-produce animated,
        children and family movies, televisions series, mini-series, motion
        pictures, films, videotapes, or other programs to be procured for
        television exhibition or theatrical release. Fox Family and the
        Corporation have entered into similar business arrangements in the past
        and currently intend to explore additional productions and

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                                                                              11

        co-productions in the future, it being understood and agreed, however,
        that Fox Family is under no obligation to deal with the Corporation on
        an exclusive basis and that it has no obligation to enter into any
        additional production or co-production whatsoever.

                  Article 3 RESTRICTIONS ON TRANSFER OF SHARES

3.1     Except as expressly provided in this Amended and Restated Agreement and
        except (i) with respect to Pettigrew's and Pettigrew's Corporation's (as
        defined in Section 3.2 below) right to borrow and hypothec Shares and/or
        Convertible Debenture (then held and/or to be purchased) to finance
        purchases of Shares or of the Convertible Debenture, which may be
        acquired by Pettigrew (and/or Pettigrew's Corporation, as the case may
        be) under the Option to Pettigrew or under Article 6, and for the
        transfer of Shares or of the Convertible Debenture bought by Pettigrew
        (and/or Pettigrew's Corporation, as the case may be) under the Option to
        Pettigrew or under Article 6 if a creditor having funded the acquisition
        of the said Shares or the Convertible Debenture enforces its rights and
        for the sale or transfer of the said Shares or the Convertible Debenture
        by such creditor to a Third Party in case of enforcement of said
        creditor's rights, (ii) with respect to Fox Family, A Faire Aujourd'hui
        Inc. ("A FAIRE") and Faire Trust, for the pledge of Fox Family's Shares
        pursuant to the Share Pledge Agreement entered into on June 23, 1998,
        between Fox Family and A Faire of fifty-eight thousand (58,000) Class A
        Shares as security for a Three Million Canadian Dollars (CDN$3,000,000)
        loan made by A Faire to Fox Family, as amended (the "PLEDGED SHARES"),
        for the transfer of the Pledged Shares by Fox Family to A Faire, if A
        Faire enforces the Pledge Agreement or pursuant to the loan agreement
        entered into by Fox Family and A Faire, for the sale or transfer of
        Pledged Shares by A Faire to a Third Party or to Faire Trust, following
        an enforcement of the Pledge Agreement, for the transfer of the Pledged
        Shares to Lions Gate pursuant to the Put Agreement entered on June 23,
        1998 by Fox Family and Lions Gate, as amended (the "PUT AGREEMENT") and
        for the transfer of the Pledged Shares to Lions Gate by A Faire or Faire
        Trust pursuant to the Put Agreement, as amended, which has been assigned
        to A Faire by Fox Family pursuant to the Put Agreement Assignment
        entered into on June 23, 1998, by Fox Family and A Faire, as amended,
        (iii) except under Section 5.2 herein and Sections 6.3 and 6.4 of the
        Employment Agreement and (iv) with respect to Lions Gate Debenture or
        any shares acquired by Lions Gate pursuant to the Put Agreement, which
        may be Encumbered in favour of Lions Gate's bankers, subject to the
        provision of this Agreement, Pettigrew and Fiducie Pettigrew shall not
        dispose of any Shares, Securities and/or the Convertible Debenture on or
        before the earlier of (i) July 8, 2004 or (ii) the day on which occurs a
        Public Listing of the Corporation, and no Shareholder (or Lions Gate
        with respect to the Lions Gate Debenture) shall Encumber any Shares,
        Securities and/or the Convertible Debenture and the Lions Gate
        Debenture, without the prior written consent of the other Shareholders
        acting reasonably, it being agreed that such consent may be withheld
        unreasonably if the Encumbrance is made to a competitor of the
        Corporation. Except under Section 3.2 hereunder, Shareholders and Lions
        Gate may only Dispose of the totality, and not part, of their Shares,
        Securities, Convertible Debenture or the Lions Gate Debenture.

<PAGE>
                                                                              12

3.2     Notwithstanding Section 3.1 above, each of the Shareholders (hereinafter
        in Article 3, the "TRANSFEROR") shall, at all times, have the right to
        Dispose of all or part of its Shares, Securities and/or the Convertible
        Debenture pursuant to this Amended and Restated Agreement to one of its
        Affiliates or Subsidiaries or, in the case of Pettigrew, to a
        corporation that he Controls and/or to Fiducie Pettigrew (except if
        stipulated otherwise, hereinafter collectively "PETTIGREW'S
        Corporation"), provided that prior to such a transfer (with respect to
        transferred Shares, Securities and/or the Convertible Debenture), the
        given Affiliate or Subsidiary or Pettigrew's Corporation shall be
        previously required to confirm in writing to the other Shareholders its
        irrevocable consent to be bound by the provisions of this Amended and
        Restated Agreement relative to the Transferor (with respect to
        transferred Shares, Securities and/or the Convertible Debenture) and to
        succeed in all of the Transferor's rights, advantages, obligations and
        liabilities hereunder (with respect to transferred Shares, Securities
        and/or the Convertible Debenture) and is deemed to substitute itself for
        the Transferor as if it were named in each provision of this Amended and
        Restated Agreement (other than this Section 3.2) (with respect to
        transferred Shares, Securities and/or the Convertible Debenture), it
        being understood however that the Transferor shall remain solidarily
        liable for the entire compliance with this Amended and Restated
        Agreement by such an Affiliate or a Subsidiary or Pettigrew's
        Corporation. The Shares, Securities and/or the Convertible Debenture
        will remain subject to the provisions of this Amended and Restated
        Agreement within the hands of such an Affiliate or a Subsidiary or
        Pettigrew's Corporation. The Transferor must give notice of its
        intention to effect a transfer pursuant to this Section 3.2 at least
        fifteen (15) days before the transfer. Before a transfer is effected and
        once a year thereafter, the other Shareholders may require from the
        president of the Affiliate or Subsidiary or Pettigrew's Corporation (or
        in the case of Fiducie Pettigrew, from the trustees thereof) who is to
        receive Shares, Securities and/or the Convertible Debenture from the
        Transferor or, as the case may be, has been transferred Shares,
        Securities and/or the Convertible Debenture of the Corporation, a sworn
        affidavit as to the name of its Controlling shareholders and the
        percentage of voting shares they hold in the capital of the Affiliate or
        Subsidiary or Pettigrew's Corporation (or in the case of Fiducie
        Pettigrew, a sworn affidavit to the effect that Pettigrew is one of the
        trustees thereof). Any default in producing this sworn affidavit and any
        loss of Control of the Affiliate or Subsidiary or Pettigrew's
        Corporation by the Transferor (or in the case of Fiducie Pettigrew, any
        default in producing the sworn affidavit or the fact that Pettigrew is
        no longer a trustee of Fiducie Pettigrew) shall be deemed to be a
        default under this Amended and Restated Agreement and shall give rise to
        the application of Article 12 of this Amended and Restated Agreement.

3.3     Notwithstanding any other provision hereof to the contrary, SGF Tech may
        freely transfer its Shares, as part of a transfer of its investment
        portfolio or any substantial part thereof such as required by law or by
        the Quebec Government, to any of its Affiliates or to the Quebec
        Government, any agency thereof or any other institutional investor
        designated by the Quebec Government, including without limitation, any
        direct or indirect Subsidiary of SOCIETE GENERALE DE FINANCEMENT DU
        QUEBEC, upon notice to the other Shareholders and the Corporation but
        without having to obtain their consent thereto, provided that at the
        time of such transfer, the transferee shall forthwith and in writing
        become a party to this Amended

<PAGE>
                                                                              13

        and Restated Agreement in lieu and place of SGF and shall be assigned,
        and shall assume all rights and obligations of SGF hereunder and under
        the Subscription Agreement.

3.4     In the event of a Disposition of any Shares, Securities, the Convertible
        Debenture and/or the Lions Gate Debenture to a person who is not a party
        to this Amended and Restated Agreement, including for greater certainty
        in the circumstances described in Section 3.1, as a condition precedent
        to being registered as a holder of such Shares, Securities, the
        Convertible Debenture and/or the Lions Gate Debenture and to the
        exercise by such transferee of any rights attaching to such Shares,
        Securities, the Convertible Debenture and/or the Lions Gate Debenture,
        the transferee of such Shares, Securities, the Convertible Debenture
        and/or the Lions Gate Debenture, deliver an agreement, in form and on
        terms reasonably satisfactory to the Shareholders, whereby such
        transferee agrees to be bound by the provisions hereof as if he were an
        original party hereto. After the execution of such agreement and subject
        to all other relevant provisions of this Amended and Restated Agreement,
        except as otherwise provided herein, the transferee shall have the same
        rights and obligations with respect to such Shares, Securities, the
        Convertible Debenture and/or the Lions Gate Debenture as the Party from
        whom it acquired such Shares, Securities, the Convertible Debenture
        and/or the Lions Gate Debenture.

3.5     The Corporation shall cause all share certificates now or later
        authorized or issued to have printed thereon:

        "The right of the holder of this certificate to sell, transfer, assign
        or otherwise dispose, mortgage, pledge, hypothecate, charge or otherwise
        encumber the Shares represented by this certificate is governed by an
        amended and restated unanimous shareholders' agreement, dated as July
        10, 2001, as may be amended from time to time, and by the Articles, as
        may be amended from time to time."

3.6     No Disposition of Shares, Securities, the Convertible Debenture and/or
        the Lions Gate Debenture in violation of this Amended and Restated
        Agreement shall be valid, and no such Disposition shall be recorded in
        the securities register, minute book or corporate records of the
        Corporation or be opposable to the Corporation and the other Parties
        herein and any Person acquiring Shares, Securities, the Convertible
        Debenture and/or the Lions Gate Debenture shall previously execute an
        intervention to declare having taken cognizance of this Amended and
        Restated Agreement and to be bound by its provisions.

3.7     The Shareholders and the Corporation expressly consent to any
        Disposition of Shares, Securities, the Convertible Debenture and/or the
        Lions Gate Debenture, pursuant to this Amended and Restated Agreement
        and carried out in accordance with the provisions of this Amended and
        Restated Agreement and any Disposition of Shares, Securities, the
        Convertible Debenture and/or the Lions Gate Debenture permitted by
        Sections 3.1, 3.2 and 3.3 of this Amended and Restated Agreement.
        Notwithstanding anything else in this Amended and Restated Agreement,
        other than the transfer of the Pledged Shares to Lions Gate by Fox
        Family under the Put Agreement, the Corporation hereby undertakes not to
        give effect to, any Disposition of any of the Pledged Shares without
        first obtaining the written consent of A Faire to such Disposition.

3.8     Notwithstanding Section 3.1, but subject to Sections 3.2 and 6.2, and as
        long as SGF Tech is a Shareholder, Pettigrew and/or Pettigrew's
        Corporation and Fiducie Pettigrew undertake

<PAGE>
                                                                              14

        not to dispose of any of their Shares, Securities or Convertible
        Securities until the earlier of the following dates: (i) July 8, 2004;
        or (ii) 180 days following the day on which occurs a Public Listing of
        the Corporation or any lesser period agreed by SGF Tech.

                          Article 4 ISSUANCE OF SHARES

4.1     Subject to Sections 4.7 to 4.12, no Shares of any classes, Securities or
        Convertible Securities shall be issued by the Corporation, unless
        Subsection 15.1.21 of this Amended and Restated Agreement was complied
        with, and furthermore, when an issue of Class A Shares, Securities or
        Convertible Securities directly or indirectly convertible into or
        exchangeable for Class A Shares (the "CONVERTIBLE SECURITIES INTO CLASS
        A SHARES") is involved, unless the Class A Shares or Convertible
        Securities into Class A Shares to be issued have been first offered on
        equal terms to the Shareholders holding, either Class A, Class B, Class
        P and Class E Shares each of whom hold a pre-emptive right to acquire
        the offered Class A Shares or Convertible Securities into Class A Shares
        on a Pro Rata Basis immediately prior to the date of such offer.

4.2     The pre-emptive right provided for in Section 4.1 may be exercised by
        each Shareholder holding either Class A, Class B, Class P or Class E
        Shares within forty-five (45) days of receipt of a written notice by the
        Corporation with respect to the said contemplated issue of Class A
        Shares or Convertible Securities into Class A Shares; such notice must
        inform each such Shareholder of the number of Shares Class A Shares or
        Convertible Securities into Class A Shares he may acquire and all
        conditions of the issue, including the issue price. Failure by a
        Shareholder to notify the Corporation within the ten (10) day delay that
        he accepts to exercise his pre-emptive right is deemed a refusal.

4.3     Each Shareholder may exercise his pre-emptive right by notifying the
        Corporation in writing of the exercise of his pre-emptive right
        acceptance and by notifying the Corporation (in the same notice) of the
        maximum number of Class A Shares and/or Convertible Securities into
        Class A Shares he would acquire if one (or more) Shareholder does not
        exercise his pre-emptive right.

4.4     If one (or more) Shareholder refuses to exercise his pre-emptive right,
        his pre-emptive right will accrue on a Pro Rata Basis in favour of those
        Shareholders who have duly exercised their pre-emptive rights and have
        duly notified the Corporation of their consent to acquire additional
        Class A Shares and/or Convertible Securities into Class A Shares under
        their accrued pre-emptive rights. If more than one Shareholder want to
        exercise their accrued pre-emptive rights, the additional Class A Shares
        and/or Convertible Securities into Class A Shares shall be divided
        between the Shareholders exercising the said accrued pre-emptive rights
        on a Pro Rata Basis.

4.5     Failure by Shareholders to accept to acquire all or part of the
        contemplated issue of Class A Shares and/or Convertible Securities into
        Class A Shares and to duly comply with their acceptance shall allow the
        Corporation to issue the non-subscribed Class A Shares and/or
        Convertible Securities into Class A Shares to Third Parties who do not
        have any pre-emptive rights, at terms and conditions including the price
        of issue, not more advantageous than those offered to the Shareholders
        in the notice to exercise the pre-emptive rights, provided however that
        such Third Parties must agree to be bound by the terms of this Amended
        and Restated Agreement as provided in Section 3.3. Such issuance must
        take place no sooner than fifteen

<PAGE>
                                                                              15

        (15) days and no later than sixty (60) days after the expiry of the
        above process provided for in Sections 4.1 to 4.3, failing which, the
        provisions of these Sections shall again apply to the said issuance.

4.6     Notwithstanding the foregoing and Subsection 15.1.21, the Corporation
        shall be entitled to issue the following Shares from its treasury, with
        the resolution of the directors of the Corporation obtained at a board
        meeting duly held to this effect or by execution of a resolution in
        writing without, if applicable, having to first offer to all the
        Shareholders by virtue of their pre-emptive rights:

        4.6.1   such number of Shares to Faire Trust as required following any
                exercise by Faire Trust of the Option to Faire Trust;

        4.6.2   the Shares that may be issued pursuant to the Convertible
                Debenture and the Lions Gate Debenture;

        4.6.3   such number and types of Shares to Pettigrew as required
                following any exercise by Pettigrew of the Option to Pettigrew;

        4.6.4   such number of Class D Shares as required by any stock option
                exercise pursuant to the Stock Option Plan;

        4.6.5   Shares issued following the automatic conversions provided for
                in Section 16.2;

        4.6.6   such number of Class C Shares that may be issued pursuant to
                Sections 16.3 and 16.6;

        4.6.7   such number of Class A Shares that maybe issued to SGF Tech
                pursuant to the Articles and pursuant to Section 3 of the
                Subscription Agreement.

4.7     No Class B Shares may be issued except upon a conversion of part or all
        of the Convertible Debenture or in accordance with the automatic
        conversion provided for in Section 16.2 and in the Articles.

4.8     No Class P Shares may be issued except to Pettigrew or Pettigrew's
        Corporation.

4.9     No Class C Shares may be issued except to Pettigrew or Pettigrew's
        Corporation, or if Pettigrew is no longer an Officer of the Corporation,
        subject to SGF prior approval, to the highest ranking Quebec Officer of
        the Corporation pursuant to the terms of the Option to Pettigrew or the
        provisions of Section 16.3 or 16.6 of this Amended and Restated
        Agreement, as the case may be.

4.10    No Class D Shares may be issued except pursuant to the Stock Option
        Plan.

4.11    No Class E Shares and no Class F Shares may be issued except to SGF Tech
        or its successors and assignees pursuant to Section 3.3 of the Amended
        and Restated Agreement.

4.12    Except in compliance with this Amended and Restated Agreement and with
        the Option to Pettigrew and the Option to Faire Trust and without
        restricting the provisions of Article 16 of this Amended and Restated
        Agreement, the Corporation hereby agrees not to issue any additional
        voting Shares and not to approve any transfer of voting Shares, unless
        an affirmative written unrestricted legal opinion is obtained from an
        independent counsel jointly retained by the Corporation, Pettigrew,
        Cinepix and SGF Tech (or their successors and assigns), at the
        Corporation's costs, which states that said issuance or transfer, as the
        case may be, would not result in the loss for the Corporation of any of
        the Quebec Tax Credits and Canadian Tax Credits for a given financial
        year, it being provided however that this Section 4.12 shall cease to
        apply (without retroactive effects) if the aggregate of the Quebec

<PAGE>
                                                                              16

        Tax Credits and the Canadian Tax Credits (without taking into account
        any expected loss of these credits resulting from said issue or
        transfer) represent for a given financial year (of twelve (12) months)
        and are expected to represent for the following financial year (of
        twelve (12) months) (according to the then approved budget) less than
        five percent (5%) of the Corporation's annual revenues.

        It is also agreed that this Section 4.12 shall not apply to said issue
        or transfer (but may apply to subsequent issues or transfers): (1) in
        the case of an expected loss of the Quebec Tax Credits only, resulting
        from said issue or transfer, if the Quebec Tax Credits (without taking
        into account the expected loss of the Quebec Tax Credits) represent for
        a given financial year (of twelve (12) months) and are expected to
        represent for the following financial year (of twelve (12) months)
        (according to the then approved budget) less than two percent (2%) of
        the Corporation's annual revenues; or (2) in the case of an expected
        loss of the Canadian Tax Credits only, resulting from said issue or
        transfer, if the Canadian Tax Credits (without taking into account the
        expected loss of the Canadian Tax Credits) represent for a given
        financial year (of twelve (12) months) and are expected to represent for
        the following financial year (of twelve (12) months) (according to the
        then approved budget) less than two percent (2%) of the Corporation's
        annual revenues.

                       Article 5 RIGHTS OF FIRST REFUSAL

5.1     Subject to Article 6 hereunder, when this Article 6 is applicable, if,
        at any time for all the Shareholders, except Pettigrew and/or
        Pettigrew's Corporation and Fiducie Pettigrew, or if at any time after
        the earlier of the two (2) dates provided for in Section 3.8, for
        Pettigrew and/or Pettigrew's Corporation and Fiducie Pettigrew any
        Shareholder or Lions Gate with respect to the Lions Gate Debenture (the
        "VENDOR") wishes to Dispose of all but not less than all of his or its
        Shares or the Lions Gate Debenture pursuant to a Good Faith Offer (the
        "OFFERED SHARES"), he or it first shall offer to the other Shareholders
        (the "OFFEREE") an opportunity to purchase such Shares or the Lions Gate
        Debenture on a Pro Rata Basis (excluding the Shares of the Vendor) at
        the price and on the terms set out in the Good Faith Offer; such said
        notice of the Good Faith Offer must include a copy of the Good Faith
        Offer and an undertaking that the Vendor will accept the Good Faith
        Offer and complete the transactions contemplated thereby, if
        Shareholders do not exercise their rights of first refusal (hereinafter
        in this Article and in Article 6 hereafter the "NOTICE").

        In the event that Article 6 is not applicable by reasons of (A) the Good
        Faith Offer is not exclusively covering the Shares and/or Convertible
        Debenture of Cinepix (and its successors); or (B) if Pettigrew and
        Pettigrew's Corporation refuse or fail to exercise their rights to
        purchase under Article 6, the Shareholders (other than the Vendor but
        including Pettigrew and Pettigrew's Corporation) may accept in writing
        the offer of the Vendor within (i) sixty (60) days after the receipt of
        the Notice if Section 6.1 is not applicable because the Good Faith Offer
        does not exclusively cover Shares and/or Convertible Debenture of
        Cinepix (and its successors); or (ii) ninety (90) days after the receipt
        of the Notice if Pettigrew and Pettigrew's Corporation advise that they
        do not wish, or if they fail, to exercise their rights pursuant to
        Article 6 hereunder; or (iii) one hundred twenty (120) days after the
        receipt of the Notice if Pettigrew and Pettigrew's Corporation, after
        having exercised their rights to purchase under Article 6 hereunder,
        fail to purchase at the Closing, as outlined in Section 6.2

<PAGE>
                                                                              17

        hereunder or (iv) thirty (30) days when the Notice is with respect to
        only of the Lions Gate Debenture. Any acceptance must notify the Vendor
        of the additional number of Shares or additional proportion of the Lions
        Gate Debenture, that any accepting Shareholder is willing to purchase
        pursuant to the Vendor's offer in the event one or more other
        Shareholders shall not accept the Vendor's offer. Any Shareholder not
        responding within the applicable delay shall be deemed to have refused
        the offer of the Vendor. In the event that one or more of the other
        Shareholders do not accept to purchase all of the Vendor's Shares or the
        Lions Gate Debenture pursuant to the Good Faith Offer as contained in
        the Notice, the Vendor shall be obliged to sell his or its Shares or the
        Lions Gate Debenture, as the case may be, to the other Shareholders or
        to the Third Party who made the Good Faith Offer or who received the
        Good Faith Offer at the price and on the terms set out in the Good Faith
        Offer within the next sixty (60) days, provided however that the Third
        Party who made the Good Faith Offer agrees to be bound by the terms of
        this Amended and Restated Agreement as provided in Section 3.4. In the
        event that more than one Shareholder accepts the Vendor's offer as
        contained in the Notice and expresses its acceptance to purchase
        additional Shares, or an additional proportion of the Lions Gate
        Debenture, not bought by other Shareholders, if the accepting
        Shareholders offer to purchase more than one hundred percent (100%) of
        the Vendor's Shares, or the Lions Gate Debenture, pursuant to this
        Article 5, those Shareholders who accept such offer or any of them,
        having expressed their consent to acquire an additional number of Shares
        or an additional proportion of the Lions Gate Debenture, shall be
        entitled to purchase the remainder of the Vendor's Shares or the
        Vendor's Lions Gate Debenture on a Pro Rata Basis (excluding the Shares
        of the Vendor, the Shares of any other Shareholder refusing the offer
        pursuant to this Article 5 and the Shares of any other Shareholder
        accepting the offer made pursuant to this Article on a Pro Rata Basis
        but refusing to purchase additional Shares or an additional proportion
        of the Lions Gate Debenture) at the price and on the terms set out in
        the Good Faith Offer. In the event that none of the other Shareholders
        accepts to purchase all of the Vendor's Shares or Vendor's Lions Gate
        Debenture pursuant to the Good Faith Offer or if the Vendor's Shares or
        the Vendor's Lions Gate Debenture are not sold to the Third Party who
        made the Good Faith Offer within the sixty (60) days next following the
        completion of the above process, the provisions of this Article 5 shall
        again apply from that time forward and from time to time.

5.2     Without limiting Section 5.1 above and when Section 6.1 hereafter does
        not apply or if Pettigrew and Pettigrew's Corporation refuse or fail to
        exercise their rights to purchase or refuse or fail to purchase at
        Closing under Article 6, should a Shareholder holding more than fifty
        percent (50%) of the votes in the issued and outstanding Shares of the
        share capital of the Corporation (a "MAJORITY SHAREHOLDER") or Pettigrew
        (including Pettigrew's Corporation) receive a Good Faith Offer, all
        other Shareholders, and, as the case may be, Lions Gate for the Lions
        Gate Debenture, have the right (but not the obligation), under said Good
        Faith Offer to sell their Shares and Securities on the same terms and
        conditions as those offered to the Majority Shareholder or Pettigrew
        (including Pettigrew's Corporation), otherwise the Majority Shareholder
        or Pettigrew (including Pettigrew's Corporation), may not accept the
        Good Faith Offer. The Good Faith Offer made to the Majority Shareholder
        or Pettigrew (including Pettigrew's Corporation) must be open for
        acceptance by all other

<PAGE>
                                                                              18

        Shareholders for a period of not less than one hundred twenty (120) days
        from the receipt of the Notice by all other Shareholders.
        Notwithstanding this Section 5.2, when Pettigrew and/or Pettigrew's
        Corporation exercise their rights provided by Section 6.1 herein on the
        sale of Shares of a Majority Shareholder, this Section 5.2 is not
        applicable, unless the closing of such transaction by Pettigrew and/or
        Pettigrew's Corporation, as purchaser, does not take place.

5.3     Notwithstanding the provisions of Section 5.2 above and when Section 6.1
        hereafter does not apply or if Pettigrew and/or Pettigrew's Corporation
        refuses or fails to exercise its rights to purchase or refuses or fails
        to purchase at Closing under Article 6, it is understood that all
        Shareholders will have at all times, the right to sell all their Shares
        on a Pro Rata Basis, if:

        (6)     Pettigrew, Pettigrew's Corporation or one or more Shareholder(s)
                holding more than thirty percent (30%) of the voting Shares of
                the share capital of the Corporation agree(s) to sell his, its
                or their Shares pursuant to a Good Faith Offer, provided that
                the other Shareholders have refused to exercise their rights of
                first refusal; or

        (7)     a transaction or series of transactions would result in a change
                of Control of the Corporation; concurrently with the event
                described in (i) and (ii) and on the same terms and conditions
                as those offered to Pettigrew, Pettigrew's Corporation or the
                Shareholder(s) holding more than thirty percent (30%) of the
                voting Shares, otherwise the Shareholder(s) holding more than
                thirty percent (30%) of the voting Shares, Pettigrew or
                Pettigrew's Corporation may not accept the Good Faith Offer.
                Notwithstanding this Section 5.3, when Pettigrew and/or
                Pettigrew's Corporation exercises its rights under Section 6.1
                with respect to the sale of Shares to Shareholder(s) holding
                more than thirty percent (30%) of the voting Shares, this
                Section 5.3 is not applicable, unless the closing of such
                transaction by Pettigrew and/or Pettigrew's Corporation, as
                purchaser, does not take place.

5.4     Subject to Pettigrew's and Pettigrew's Corporation's rights outlined in
        Article 6 hereafter, any Disposition of the Convertible Debenture and
        Lions Gate Debenture shall be subject to this Article 5. For greater
        certainty, no partial sale of the Convertible Debenture or of the Lions
        Gate Debenture is permitted.

5.5     Article 5 shall cease to apply should the Corporation successfully
        complete a Public Listing, except for an event giving rise to the first
        refusal rights mechanism which has occurred prior to the completion of
        said Public Listing and which is still existing when the Corporation
        completes its Public Listing.

          Article 6 RIGHTS OF PETTIGREW AND PETTIGREW'S CORPORATION TO
         PURCHASE ALL SHARES AND/OR CONVERTIBLE DEBENTURE COVERED BY AN
              OFFEROR'S OFFER MADE TO CINEPIX (AND ITS SUCCESSORS)

6.1     Without restricting the provisions of Article 16 hereinafter, in the
        event Cinepix (and its successors) receives a Good Faith Offer (other
        than from Pettigrew or Pettigrew's Corporation) (hereinafter in this
        Article, the "OFFEROR") to purchase all of its Shares and/or the
        Convertible Debenture (in its entirety) which it desires to accept,
        Pettigrew and/or Pettigrew's Corporation (at Pettigrew's choice) shall,
        notwithstanding the provisions of Section 5.1 above, have the exclusive
        right to purchase all the Shares and/or the Convertible Debenture
        mentioned in the Offeror's offer made to Cinepix (and its successors) at
        the price

<PAGE>
                                                                              19

        and on the terms set out therein. The parties agree that, provided that
        a sale by Cinepix (or its successors) to a Third Party or a Shareholder
        has taken place after giving rise to this Article 6, this priority right
        of first refusal shall not apply thereafter and Pettigrew and
        Pettigrew's Corporation shall only benefit from the rights of first
        refusal provided in Article 5.

        Pettigrew and/or Pettigrew's Corporation may accept in writing to
        purchase all the Shares and/or the Convertible Debenture mentioned in
        the Offeror's offer within sixty (60) days from receipt of the Notice by
        forwarding acceptance in writing to Cinepix (or its successors) together
        with (i) a letter or other documents from a bona fide financial
        institution, lender or investor (or a combination thereof) approving
        with or without conditions to finance such an eventual acquisition by
        Pettigrew and/or Pettigrew's Corporation or (ii) evidence of sufficient
        funding by Pettigrew and/or Pettigrew's Corporation to finance such an
        eventual acquisition. Failure to respond as aforesaid within this delay
        shall be deemed to be a refusal of Pettigrew and/or Pettigrew's
        Corporation to exercise their rights pursuant to this Section 6.1 and
        then Cinepix (and its successors), as Vendor, shall be required to
        continue the process already commenced pursuant to Article 5 above.

6.2     Notwithstanding any provision to the contrary, to finance the
        acquisition of the Shares and/or the Convertible Debenture covered by an
        Offeror's offer pursuant to this Article 6, Pettigrew and/or Pettigrew's
        Corporation shall be entitled to sell its Shares to raise the sum
        required for the purchase as long as Pettigrew and Pettigrew's
        Corporation remain the owners of Shares representing at least ten
        percent (10%) of equity (exclusive of votes) at closing of the
        acquisition. Closing shall occur within thirty (30) days of the
        forwarding of written acceptance (accompanied with appropriate documents
        as provided for in the second paragraph of Section 6.1) by Pettigrew
        and/or Pettigrew's Corporation; if for any reason whatsoever Pettigrew
        and/or Pettigrew's Corporation, acting in good faith, cannot close the
        transaction, Cinepix (and its successors), the other Shareholders, the
        Offeror and any other party involved will have no recourse against
        Pettigrew and Pettigrew's Corporation and then, Cinepix (and its
        successors), as Vendor, shall be required to continue compliance with
        the provisions of Article 5 above. It is agreed that even in the cases
        of failure to respond to the Notice or if, after acceptance of the
        Offeror's offer contained in the Notice, a closing does not occur in
        accordance with this Section 6.2, Pettigrew and Pettigrew's Corporation
        shall have the benefit of the provisions of Section 5.1.

6.3     The rights to purchase given to Pettigrew and Pettigrew's Corporation
        pursuant to this Article 6 shall continue to exist even if the
        Corporation successfully completes a Public Listing. However, if the
        sale of Shares and/or the Convertible Debenture by Cinepix (and its
        successors) would not result in a loss of Control of the Corporation by
        Cinepix (and its successors), these rights to purchase would only cover
        the Class B Shares and the Convertible Debenture held by Cinepix (and
        its successors) which are intended to be sold, if any, and not the Class
        A Shares of the Corporation which are intended to be sold. For greater
        certainty, if, after a Public Listing, the sale of Shares and/or
        Convertible Debenture would result in a loss of Control of the
        Corporation by Cinepix (and its successors), these rights to purchase
        would cover all the Shares and/or Convertible Debenture which are
        intended to be sold.

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                                                                              20

6.4     In the event Section 6.1 applies and Pettigrew and/or Pettigrew's
        Corporation exercises the exclusive right to purchase all the Shares
        and/or Convertible Debenture mentioned in the Offeror's offer, all other
        Shareholders have the right (but not the obligation) to sell to
        Pettigrew and/or Pettigrew's Corporation, their Shares in the
        Corporation on the same terms and conditions as those offered to Cinepix
        (and its successors) by the Offeror. The other Shareholders will have a
        period of not less than sixty (60) days from the receipt of the Notice
        (as defined in Section 5.1) to exercise this option to sell. For greater
        certainty, Section 6.2 shall apply mutatis mutandis when other
        Shareholders exercise their option to sell hereunder.

6.5      The Shareholders agree that this Article 6 shall apply as long as
         Pettigrew (i) is a Senior Officer, subject to what is provided
         hereunder in case of wrongful dismissal of Pettigrew; and (ii) has
         (considering any anti-dilution option he has under the Option to
         Pettigrew, as deemed exercised) either a) at least five percent (5%) of
         the equity of the Corporation (exclusive of voting rights) provided he
         has at least eighty-four thousand (84,000) Shares of the Corporation,
         whether in Class A, Class B and/or Class P Shares or b) at least ten
         percent (10%) of equity of the Corporation (exclusive of voting rights)
         if he has less than eighty-four thousand (84,000) Shares of the
         Corporation, whether in Class A, Class B and/or Class P Shares. The
         Shareholders agree that if Pettigrew alleges, in writing, within ten
         (10) Business Days of his knowledge of his dismissal, to have been
         wrongfully dismissed, his option pursuant to this Article 6 shall
         remain in full force and effect (subject to compliance with this
         paragraph) until a final arbitration award has been rendered on this
         matter by the arbitration tribunal of which the members shall have been
         nominated pursuant to the Employment Agreement declaring that the
         dismissal of Pettigrew was not a wrongful dismissal or the execution of
         an out of court settlement to this effect.

                         Article 7 FINANCIAL REPORTING

7.1     The Corporation shall provide to the Shareholders:

        7.1.1   As soon as available, and in any event not more than 45 days
                after the end of each fiscal quarter (other than the last
                quarter) of each fiscal year of the Corporation, the unaudited
                consolidated and non-consolidated Financial Statements of the
                Corporation and of such Important Subsidiaries (as these terms
                are defined in the Subscription Agreement) that may be
                identified by any of the Shareholders;

        7.1.2   as soon as available, and in any event not more than 90 days
                after the end of the fiscal year of the Corporation, the audited
                consolidated and non-consolidated Financial Statements of the
                Corporation and of such Important Subsidiaries that may be
                identified by any of the Shareholders, as at the end of each
                such year;

        7.1.3   as soon as available, but in any event at least 90 days before
                the beginning of the Corporation's fiscal years, a business plan
                and budget for the Corporation's and for such Important
                Subsidiaries that may be identified by any of the Shareholders,
                next fiscal year including a balance sheet forecast, operating
                forecast and capital expenditures budget, and a detailed
                forecast for the next year's operations;

        7.1.4   within 30 days following each meeting of the Board and of such
                Important Subsidiaries that may be identified by any of the
                Shareholders, a copy of the minutes of such board meeting, in
                draft form for comments;

<PAGE>
                                                                              21

        7.1.5   promptly following the receipt thereof, a copy of any notice,
                letter or other document informing the Corporation of the
                institution or dispute of any Material legal proceeding
                involving the Corporation and its Subsidiaries, as the case may
                be;

        7.1.6   promptly following the receipt thereof, a copy of all
                confirmations of renewal or non-renewal, as the case may be, of
                the insurance of the Corporation and its Subsidiaries, as the
                case may be;

        7.1.7   promptly following the receipt thereof, a copy of any notice,
                letter or other document advising the Corporation and/or its
                Subsidiaries, as the case may be, of the occurrence of an event
                of default (not remedied or waived within five (5) days of its
                occurrence) pursuant to any contract to which the Corporation or
                its Subsidiaries, as the case may be, is a party or any
                financial undertaking of the Corporation and/or of its
                Subsidiaries;

        7.1.8   promptly following the receipt thereof, a copy of any notice,
                letter or other document advising the Corporation and its
                Subsidiaries, as the case may be, of any potential or actual
                breach of any Applicable Law applicable to the Corporation or
                its Subsidiaries or to any of their operations;

        7.1.9   every 6 months upon demand by any of the Shareholders, the
                Corporation shall provide forthwith such data, reports,
                statements, documents and other additional information
                pertaining to the Business, assets, liabilities, financial
                position, operating results or prospects of the Corporation and
                its Important Subsidiaries as such Shareholders may request,
                acting reasonably, except if the financial situation of the
                Corporation is deteriorating, in which case such Shareholders
                may make more than one demand at every 6 months; and

        7.1.10  the Shareholders shall at all times have full access to the
                Corporation and its Important Subsidiaries' books and records.

                          Article 8 FORCED SALE OPTION

8.1     Should the Corporation be unable to pay the retraction price of the
        Class E Shares to the holders of Class E Shares, pursuant to Section F
        of the Articles for more than six (6) months following the notice
        requesting the retraction of Class E Shares given pursuant to Section F
        of the Articles, for whatever grounds including that it fails to comply
        with the provisions of the Companies Act (Quebec) after giving a thirty
        (30) day prior written notice to the other Shareholders and the
        Corporation, the holder of Class E Shares shall have the option of:

        8.1.1   putting up for sale all issued and outstanding Shares and
                Convertible Securities held in the share capital of the
                Corporation and requiring forthwith that, should a Third Party
                offer to purchase all of the issued and outstanding Shares and
                Convertible Securities of the share capital of the Corporation
                and the holder of Class E Shares choose to accept such offer,
                all other Shareholders of the Corporation shall sell all Shares
                and Convertible Securities they hold in the share capital of the
                Corporation to such Third Party according to the same terms and
                conditions as those accepted by the holder of Class E Shares;
                being understood

<PAGE>
                                                                              22

                by the parties that in such case the right of first refusal set
                forth in Article 5 of this Amended and Restated Agreement will
                not be applicable; or

        8.1.2   putting up for sale all assets of the Corporation, it being
                understood that all other Shareholders of the Corporation
                undertake to exercise their voting rights so as to approve such
                sale;

                (options under Sections 8.1 and 8.2 being collectively referred
                to hereinafter as the "FORCED SALE OPTION")

8.2     The Forced Sale Option shall be exercised by the holder of Class E
        Shares by sending a written notice to all other Shareholders and the
        Corporation setting out the contents of the offer made by the Third
        Party and the identity thereof. A copy of any offer made by a Third
        Party shall also be remitted to all other Shareholders and the
        Corporation at the same time.

8.3     Upon receiving the above notice, the other Shareholders shall reasonably
        co-operate with the holder of Class E Shares for the purposes of
        completing the transfer of Shares and, where applicable, Convertible
        Securities or assets, as the case may be, as soon as possible following
        receipt of such notice.

8.4     The Corporation undertakes to co-operate with the holder of Class E
        Shares selling its Shares and, where applicable, Convertible Securities
        or assets of the Corporation pursuant to Section 8.1.1 by providing,
        inter alia, any financial, accounting, technical, commercial or other
        relevant information normally required by an eventual purchaser of a
        business so that the holder may, in turn, send such information to any
        potential purchaser (provided such potential purchaser agrees to enter
        into an acceptable confidentiality agreement with the Corporation and
        give a restrictive covenant in favour of the Corporation in order to
        protect key-employees of the Corporation and its Subsidiaries from
        direct solicitation during a reasonable lapse of time if individual and
        personal information on those key-employees is required);

8.5     Where the holder of Class E Shares identifies a Third Party (or a
        Shareholder) that wishes to purchase the issued and outstanding Shares
        and Convertible Securities of the share capital of the Corporation or
        all of the assets thereof, the Corporation shall have the option, during
        a forty-five (45) day period following receipt by the Corporation from
        the holders of Class E Shares of the notice provided for in Section 8.2
        notifying the Corporation of the contents of the Third Party (or the
        Shareholder) offer and the identity thereof, to identify a Third Party
        (or a Shareholder) purchaser to purchase the Shares and Convertible
        Securities of the share capital or all of the assets thereof, and the
        Shareholders shall be required, upon request by the Corporation, to sell
        to such Third Party (or the Shareholder) purchaser all Shares and
        Convertible Securities they hold; the Corporation may, where applicable,
        sell to such Third Party (or the Shareholder) purchaser all assets of
        the Corporation provided that the price and terms and conditions of
        purchase proposed by such Third Party (or the Shareholder) purchaser be,
        for the Shareholders of the Corporation, at least equal to the price and
        terms and conditions of purchase of the Third Party identified by the
        holder of Class "E" Shares;

8.6     Where the holder of Class E Shares having identified a Third Party
        purchaser and the Corporation failing to reach an agreement as to
        whether the offer obtained by the Corporation from such other Third
        Party purchaser is at least equal, for the Shareholders of the
        Corporation, to the price and terms and conditions of purchase offered
        by the Third Party

<PAGE>
                                                                              23

        identified by the holder of Class E Shares, such matter shall be
        determined by any Canadian accounting or valuation firm operating
        nation-wide having a place of business in Quebec, designated jointly by
        the holder of Class E Shares and the Board or, should they fail to do so
        within five (5) days of the date on which the Corporation obtained the
        Third Party offer, by a judge of the Superior Court of the District of
        Montreal at the request of the holder of Class E Shares or the board of
        directors of the Corporation (the "VALUATOR"). The decision of the
        Valuator as to whether the price and terms and conditions of purchase
        proposed by the Third Party purchaser identified by the Corporation is
        at least equal to those proposed by the Third Party identified by the
        holder of Class E Shares having requested the redemption of its Shares
        shall be final and binding upon all Shareholders of the Corporation.

8.7     The holder of Class E Shares shall have the right to receive, from the
        purchase price paid by the Third Party purchaser, in priority to any
        other shareholder the higher of the following amounts: (i) an amount
        equal to the subscription price paid for said Class E Shares plus the
        declared and unpaid dividends on such Class E Shares; and (ii) the "Fair
        Market Value" of each Class E Share as this expression is defined in the
        Articles.

                   Article 9 DEATH OR DISABILITY OF PETTIGREW

9.1     Pettigrew and, as the case may be, Pettigrew's Corporation and
        Pettigrew's estate, hereby irrevocably offer to sell to the Corporation,
        which irrevocably accepts to buy, at the price stipulated in Article 13
        hereof and upon the terms and conditions set forth hereinafter all of
        his (its) Shares and Convertible Debenture (in its entirety) then held
        in the event of the death or Disability of Pettigrew, whichever comes
        first, which events are each a suspensive condition to this offer.

9.2     Article 9 shall cease to apply should the Corporation successfully
        complete a Public Listing, unless the death or Disability of Pettigrew
        has occurred prior to the closing of the Public Listing.

9.3     The closing of the sale of Shares and Convertible Debenture provided for
        in Section 9.1 shall occur within six (6) months of the death or
        Disability of Pettigrew.

               Article 10 LIFE INSURANCE AND DISABILITY INSURANCE

10.1    In order to fulfil the Corporation's obligations in the event of
        Pettigrew's death or Disability pursuant to Article 9, the Corporation
        shall use its best efforts to subscribe and maintain in full force and
        effect throughout the term of this Amended and Restated Agreement a
        policy or policies of life insurance on the life of Pettigrew for an
        aggregate coverage amount of at least Six Million Canadian Dollars
        (CDN$6,000,000) payable upon the death of Pettigrew, and the Corporation
        shall use its best efforts to subscribe and maintain in full force and
        effect throughout the term of this Amended and Restated Agreement a
        policy or policies on the Disability of Pettigrew for such reasonable
        available coverage (hereinafter collectively the "POLICIES") and
        Pettigrew hereby accepts to submit himself to, as may be reasonably
        required at any time and from time to time, any medical examination for
        the purposes of subscribing for and maintaining in full force and
        effect, the Policies. The owner of the Policies and the beneficiary
        (hereinafter the "BENEFICIARY") of the proceeds of the Policies
        (hereinafter the "PROCEEDS") shall be the Corporation. On a yearly
        basis, subject to Subsection 10.1.2, the Corporation shall review and
        increase or decrease, if necessary, the Proceeds payable under the
        Policies to ensure that the amount of life insurance in such year is at
        least equal to the

<PAGE>
                                                                              24

        value of the Shares, Securities and the Convertible Debenture held by
        Pettigrew or Pettigrew's Corporation calculated as if the obligations to
        purchase those Shares, Securities and the Convertible Debenture was
        created on the first day of January of any year this Amended and
        Restated Agreement is in force, starting January 1, 2002 and make the
        necessary adjustments to any policies payable upon the Disability of
        Pettigrew.

        Notwithstanding anything to the contrary in this Amended and Restated
        Agreement:

        10.1.1  When upon Pettigrew's death or Disability, the Corporation must
                buy Shares, Securities and the Convertible Debenture from
                Pettigrew, Pettigrew's estate or Pettigrew's Corporation
                (hereinafter in this Article "PETTIGREW'S SHARES") owned by
                them, the first One Million Canadian Dollars (CDN$1,000,000)
                payable out of the Proceeds shall be used by the Corporation to
                buy Pettigrew's Shares, Securities and Convertible Debenture,
                the next One Million Two Hundred and Fifty Thousand Canadian
                Dollars (CDN$1,250,000) payable out of the Proceeds shall be
                kept by the Corporation and the remainder of the Proceeds shall
                be used by the Corporation to fund the purchase of Pettigrew's
                Shares, Securities and Convertible Debenture.

        10.1.2  Unless all Shareholders consent to the contrary, in any
                financial year of the Corporation, the Corporation shall not
                pay, as premiums excluding applicable taxes, more than Fifty
                Thousand Canadian Dollars (CDN$50,000) for the Policies. If the
                Corporation has to pay more than Fifty Thousand Canadian Dollars
                (CDN$50,000) for the Policies, then the insurance coverage shall
                be diminished to such an amount where the insurance premiums
                shall not be more than Fifty Thousand Canadian Dollars
                (CDN$50,000).

10.2    Upon the death of Pettigrew or his Disability, subject to Section 9.1
        and Subsection 10.1.1, all or part of the Proceeds shall be used by the
        Beneficiary to fund the purchase of Pettigrew's Shares, directly or
        indirectly, held and/or controlled by Pettigrew, Pettigrew's Corporation
        or the estate of the deceased Pettigrew (Pettigrew, Pettigrew's
        Corporation and the estate of the deceased Pettigrew, as the case may
        be, in this Article, the "SELLING SHAREHOLDER"), so that the purchase
        price payable by the Corporation to the Selling Shareholder in respect
        of Pettigrew's Shares be funded by all or part of the Proceeds, as the
        case may be. Notwithstanding anything to the contrary herein, in the
        event that the Proceeds (distributed in accordance with Section 10.1)
        are not sufficient to fund or fully fund the payment of the purchase
        price, then the Corporation shall only buy and the Selling Shareholder
        shall only sell to Corporation such number of Pettigrew's Shares which
        may be legally paid out of the Proceeds; any part of Pettigrew's Shares
        which have not been bought by the Corporation because the Proceeds were
        insufficient shall be bought by the Corporation and sold by the Selling
        Shareholder as follows for each financial year ended after the foregoing
        purchase:

        10.2.1  within three (3) months after the approval of the Corporation's
                financial statements, the Auditors shall determine the
                Corporation's after tax profit for that year, as determined by
                the Auditors applying generally accepted accounting principles
                applicable in Canada and the Board shall cause, to the extent
                permitted by the Companies Act (Quebec), the Corporation to use
                twenty-five percent

<PAGE>
                                                                              25

                (25%) of said amount to fund purchase of additional Pettigrew's
                Shares from the Selling Shareholder. The purchase price of these
                additional Pettigrew's Shares shall be equivalent to the
                purchase price per Pettigrew's Share which had been paid out of
                the Proceeds to the Selling Shareholder.

        The Corporation shall make all such commercially reasonable efforts
        which may be required to designate or qualify any and all part of the
        purchase price paid out of the Proceeds as a "capital dividend" or such
        other designation qualifying the payment of the purchase price as tax
        free to the recipients to the extent available under prevailing tax laws
        at the relevant time.

10.3    The premiums payable in respect of the Policies in any financial year
        shall be assumed by the Corporation. In the event the Corporation fails
        to maintain the Policies, any Shareholder may do so for the account of
        the Corporation, and the Corporation shall consequently reimburse any
        insurance premiums paid by a Shareholder.

10.4    If Pettigrew ceases to be a direct or indirect Shareholder of the
        Corporation or if the Corporation completes a Public Listing prior to
        the death or Disability of Pettigrew, the Corporation shall relinquish
        all of its interest in and under all Policies held on the life and
        Disability of Pettigrew and shall take such steps as are necessary or
        expedient to assign such interest in accordance with Pettigrew's
        instructions. The Corporation shall pay all premiums for said Policies
        until the date such assignment is effective.

                    Article 11 CHANGE OF CONTROL OF CINEPIX

11.1    Without limiting the provisions of Article 16 and as long as Cinepix,
        Cinepix Films and/or Cinepix Inc., directly or indirectly, Control the
        Corporation, in the event of a direct or indirect change of Control of
        Cinepix, Cinepix Films, Cinepix Inc. Pettigrew and SGF Tech, on a Pro
        Rata Basis, shall each have, in their sole discretion, the option to
        purchase, directly or through Pettigrew's Corporation for Pettigrew'
        portion, all but not less than all of the issued and outstanding Shares
        and the Convertible Debenture of the Corporation held by Cinepix (and
        its successors pursuant to Section 3.2) (the Shares and the Convertible
        Debenture are collectively designated in this Article the "PURCHASED
        SHARES AND DEBENTURE").

        Pettigrew and SGF Tech must exercise this option forty-five (45) days
        following the earlier of (a) their receipt of a notice containing all
        relevant details of such a transaction or (b) their knowledge of the
        occurrence of the transaction with all relevant details of such
        transaction by sending to the owner of the Purchased Shares and the
        Debenture a notice stating that Pettigrew, Pettigrew's Corporation or
        SGF Tech exercises their option under this Section 11.1. Pettigrew and
        SGF Tech together may, at their discretion, but without any obligation
        to do so, renounce, in writing, to the term provided above in (a) or
        (b), and exercise this option even if they have not received a notice of
        the transaction or all relevant details of such a transaction.

        Pettigrew and SGF Tech shall have an additional ten (10) days after the
        Fair Market Value of the Purchased Shares and Debenture has been
        determined in accordance with Article 13 (which Article 13 shall be
        applicable in its entirety except that the delay of thirty (30) days
        within which Pettigrew, Pettigrew's Corporation or SGF Tech (as the
        Purchaser as defined in Article 13) and the Vendor (as defined in
        Article 13) shall try to reach an agreement as to the purchase price
        shall start from the occurrence of the earlier of either of the events

<PAGE>
                                                                              26

        described in (a) or (b) above in this Section 11.1 and the renunciation
        of both Pettigrew and SGF Tech together to the term provided above in
        (a) or (b)) to obtain the requisite financing to buy the Purchased
        Shares and Debenture. The terms of payment for the Purchased Shares and
        Debenture (as the case may be) shall be those stated in Subsection
        14.2.3 of this Agreement. If for any reason whatsoever Pettigrew,
        Pettigrew's Corporation and/or SGF Tech, together, acting in good faith,
        cannot close the transaction after having exercised their option, the
        Shareholders and any other party involved will have no recourse against
        Pettigrew, Pettigrew's Corporation and SGF Tech, however, in such a
        case, this Article will cease to receive application for the future
        unless SGF Tech or Pettigrew agrees to close the transaction without SGF
        Tech, Pettigrew or Pettigrew's Corporation or any of them.

        Section 6.2 of this Agreement shall apply mutatis mutandis in favour of
        Pettigrew and Pettigrew's Corporation to finance an acquisition pursuant
        to this Section 11.1.

        This Section 11.1 applies whether or not the change of Control
        contemplated herein would result in the loss for the Corporation of the
        Quebec Tax Credits and/or Canadian Tax Credits, or would have a negative
        impact thereon.

        The Shareholders agree that Section 11.1 shall apply as long as
        Pettigrew (i) is a Senior Officer of the Corporation, subject to what is
        provided hereunder in case of a dismissal of Pettigrew without Cause, as
        this term is defined in the Employment Agreement; and (ii) has
        (considering any anti-dilution option he has under the Option to
        Pettigrew, as deemed exercised) either (a) at least five percent (5%) of
        the equity of the Corporation (exclusive of voting rights) provided he
        has at least eighty-four thousand (84,000) Shares of the Corporation,
        whether in Class A, Class B and/or Class P Shares; or (b) at least ten
        percent (10%) of equity of the Corporation (exclusive of voting rights)
        if he has less than eighty-four thousand (84,000) Shares of the
        Corporation, whether in Class A, Class B and/or Class P Shares.

        The Shareholders agree that if Pettigrew alleges, in writing, within ten
        (10) Business Days of his knowledge of his dismissal, to have been
        dismissed without Cause as this term is defined in the Employment
        Agreement, his option pursuant to this Section 11.1 shall remain in full
        force and effect (subject to compliance with the above paragraph) until
        a final arbitration award has been rendered on this matter by the
        arbitration tribunal of which the members shall have been nominated
        pursuant to the Employment Agreement declaring that the dismissal of
        Pettigrew was not a dismissal without Cause, as this term is defined in
        the Employment Agreement or the execution of an out of court settlement
        to this effect.

        This Section 11.1 applies even after the Corporation successfully
        completes a Public Listing if the option provided in this Section 11.1,
        prior to such Public Listing, has been exercised and not waived and
        applies regardless of the fact that the change of Control may have
        resulted into conversion of Class P Shares into Class B Shares.

<PAGE>
                                                                              27

                               Article 12 DEFAULT

12.1    The occurrence of any of the following events shall constitute an event
        of default (an "EVENT OF DEFAULT") hereunder on the part of the
        Shareholder with respect to whom such event occurs (the "DEFAULTER"),
        if, within the number of Business Days, provided in the notice of such
        default sent by any other party in the manner set forth in this Article
        12, following receipt of said notice, the Defaulter fails to cure the
        default; provided, however, that the occurrence of any event described
        in Subsections 12.1.1 to 12.1.4, 12.1.7 and 12.1.9 shall constitute an
        Event of Default immediately upon such occurrence without any
        requirement of notice or passage of time, except as specifically set
        forth in any such Subsections:

        12.1.1  the institution by a Shareholder of proceedings of any nature
                under any laws of Canada, of any province of Canada, of the
                United States of America or of any American State for the relief
                of debtors wherein such Shareholder is seeking relief as debtor
                including the taking of any action by a Shareholder to
                participate in, or commence any proceeding relating to,
                insolvency or bankruptcy or the seeking of reorganisation,
                arrangement, protection, relief or composition of a Shareholder
                or any of his or its property or debt or the making of a
                proposal under any law relating to bankruptcy, insolvency,
                reorganisation or compromise of debt;

        12.1.2  a general assignment by a Shareholder for the benefit of its
                creditors in general;

        12.1.3  the institution against a Shareholder of a petition of
                bankruptcy under any section of the Bankruptcy and Insolvency
                Act (Canada) or any similar act under the U.S. or any American
                State laws, which proceeding is not dismissed, stayed or
                discharged within a period of sixty (60) days after the filing
                thereof or, if stayed, which stay is thereafter lifted without a
                contemporaneous discharge or dismissal of such proceeding;

        12.1.4  any admission by a Shareholder in writing of its inability to
                pay its debts as they become due or any acknowledgement of
                insolvency;

        12.1.5  any material breach or violation of this Amended and Restated
                Agreement by a Shareholder;

        12.1.6  except as provided for in Section 3.1 of this Amended and
                Restated Agreement, the registration of any legal hypothec on
                all or part of the Shares, Convertible Debenture or Securities
                held by a Shareholder where such hypothec remains registered for
                a period of more than twenty (20) days after the registration
                thereof or the rendering of any judgment against any Shareholder
                as a result of any action taken by any Third Party, which
                condemns the Shareholder to the payment of an amount of One
                Hundred Thousand Dollars ($100,000) or more unless an appeal is
                taken therefrom within the period of time permitted by law to
                appeal from such judgment, and as long as said appeal is not
                partly or fully dismissed, or the amount payable under such
                judgment (as modified by an out of court settlement) is paid and
                discharged in full and evidence of such appeal or of such
                payment and discharge is provided to all the other parties
                hereto within the aforesaid period of time or if no appeal may
                be taken from such judgment unless the amount payable under such
                judgment is paid and discharged in full and evidence of such
                payment

<PAGE>
                                                                              28

                and discharge is provided to all the other parties hereto within
                a period of thirty (30) days following the date such judgment is
                rendered;

        12.1.7  private appointment of a receiver, trustee or similar official
                for a Shareholder's property and assets or any part thereof,
                which appointment is not dismissed, stayed or discharged within
                a period of sixty (60) days after the filing thereof or, if
                stayed, which stay is thereafter lifted without a
                contemporaneous discharge or dismissal of such appointment;

        12.1.8  seizure of his or its Shares, Securities or Convertible
                Debenture, including execution, distress or other enforcement
                process (in this Subsection 12.1.8, the "SEIZURE"), not opposed
                within five (5) days of such Seizure or if after such opposition
                the Seizure is not quashed and the seizing party could become
                owner of the Shares, Securities or Convertible Debenture; or

        12.1.9  any Shareholder or any of its directors and officers commits a
                fraud against the Corporation or one of its Subsidiaries.

12.2    Should any of the events described in Subsection 12.1.5, 12.1.6 or
        12.1.8 occur, any Shareholder may send a notice to the Defaulter and to
        all the other Shareholders hereto, setting forth the details of the
        default, and, if any, the manner in which such default may be cured by
        the Defaulter within a fifteen (15) Business Days delay of sending of
        said notice to the Defaulter.

12.3    If a default under Subsections 12.1.1 to 12.1.4, 12.1.7 and 12.1.9
        arises or if a default arises under Subsection 12.1.5, 12.1.6 or 12.1.8
        which is not cured following the notice of default sent pursuant to
        Section 12.2 within the delay therein stipulated, which default is a
        suspensive condition of this offer, then the Defaulter irrevocably
        offers to sell to other Shareholders at the price stipulated in Article
        13 his or its Shares and Convertible Debenture as determined at the
        occurrence of the condition of this offer.

12.4    In the event that any Shareholder wants to accept the offer made
        pursuant to Section 12.3 within thirty (30) days of his knowledge of an
        Event of Default, he shall send a notice of his acceptance to the other
        Shareholders, the Defaulter and the Corporation. After receipt of this
        notice, if one or more of the other Shareholders also want to accept the
        offer made pursuant to Section 12.3, within thirty (30) days of receipt
        of the acceptance of the offer from the first accepting Shareholder,
        said other Shareholders shall give notice of their acceptance to the
        Defaulter, the Corporation and all other Shareholders, including the
        first accepting Shareholder, failing which all other Shareholders are
        deemed not to have accepted the offer. If more than one Shareholder
        accepts the offer made pursuant to Section 12.3, the accepting
        Shareholders shall acquire the Shares of the Defaulter on a Pro Rata
        Basis (excluding the Shares of all other Shareholders and of the
        Defaulter).

12.5    The closing of the sale provided for in this Article must occur within
        sixty (60) days of the last acceptance of the offer by the other
        Shareholders.

12.6    The Shareholders and the Corporation hereby renounce to Article 1392 of
        the Civil Code of the Province of Quebec.

12.7    Any Event of Default by Pettigrew shall be deemed to be an Event of
        Default by Pettigrew's Corporation and vice versa.

<PAGE>
                                                                              29

                              Article 13 VALUATION

13.1    The value (or purchase price) of the Shares and the Convertible
        Debenture pursuant to Article 9 and Article 12 of this Amended and
        Restated Agreement shall be the amount agreed to by the Purchaser
        acquiring the Shares and the Convertible Debenture and the vendor of
        said Shares and the Convertible Debenture (hereinafter the "VENDOR")
        within the thirty (30) day period following request by the Purchaser or
        the Vendor to establish the purchase price. In the event agreement is
        not reached within such thirty (30) day period, each of the Vendor and
        the Purchaser shall, within fifteen (15) days following the expiry of
        such thirty (30) day period, appoint a business valuator member of the
        Canadian Institute of Chartered Business Valuators and having experience
        in the Business to determine the Fair Market Value of the Shares and the
        Convertible Debenture as at the date of the event giving rise to the
        sale. Each such valuator (the "ORIGINAL VALUATORS") shall be instructed
        to deliver its valuation as soon as practicable, and in any event within
        thirty (30) days of his appointment. Each party to valuation and the
        Corporation (when the Corporation is not the Purchaser) must collaborate
        to promptly give all relevant information to the Original Valuators. If
        a party to valuation does not so appoint such a valuator, then the
        valuation determined by the valuator appointed by the other party shall
        be the purchase price for the Shares and Convertible Debenture. For
        greater certainty, the costs and expenses of each Original Valuator
        shall be paid by the party retaining such valuator. For the purposes of
        this Article 13, Pettigrew and Pettigrew's Corporation (if such a
        corporation is a Vendor) shall be deemed to be one party to valuation
        and if more than a Person is the Purchaser, said Persons shall be deemed
        to be one party to valuation.

13.2    If the lowest of the two (2) valuations of the Original Valuators is at
        least ninety percent (90%) of the highest valuation of the Original
        Valuators, the purchase price for the Shares and Convertible Debenture
        shall be equal to the mid-point of the two (2) original valuations. If
        the lowest of the two (2) valuations is less than ninety percent (90%)
        of the highest valuation, the Original Valuators shall, within ten (10)
        days of the delivery of the last of the valuations, mutually agree upon
        a third valuator having experience in the Business (the "THIRD
        VALUATOR") who shall determine the Fair Market Value of the Shares and
        the Convertible Debenture as aforesaid which valuation shall be the
        purchase price for the Shares and the Convertible Debenture and which
        shall be final and binding upon the Purchaser and the Vendor, unless the
        valuation of the Third Valuator is lower than the lower of the two (2)
        valuations of the Original Valuators, in which case the lowest valuation
        of the Original Valuators shall be deemed to be the Fair Market Value of
        the Shares and Convertible Debenture and shall be final and binding upon
        the Purchaser and the Vendor. If the Original Valuators fail to appoint
        a Third Valuator within such ten (10) day period, the Third Valuator
        shall be appointed by the Auditors of the Corporation. The Third
        Valuator shall be instructed to deliver its valuation as soon as
        practicable, and in any event within thirty (30) days of his
        appointment. Each party and the Corporation (when the Corporation is not
        the Purchaser) must collaborate to promptly give all relevant
        information to the Third Valuator. The costs of the Third Valuator shall
        be paid by the party whose Original Valuator provided a valuation which
        is furthest from the valuation determined by the Third Valuator.

13.3    For the purposes of valuation under Article 11, the Original Valuators
        and the Third Valuator should not consider that Pettigrew and/or
        Pettigrew's Corporation (if such a Corporation is

<PAGE>
                                                                              30

        a Vendor) have exercised any option under the Option to Pettigrew or the
        Stock Option Plan except to the extent Pettigrew and/or Pettigrew's
        Corporation have exercised such options.

                               Article 14 CLOSING

14.1    Unless otherwise agreed by the Purchaser and the vendor of the Shares
        (hereinafter in this Article the "VENDOR"), the closing of any sale and
        purchase contemplated in this Amended and Restated Agreement shall be at
        a place (in Montreal, Quebec) and time as determined by the Purchaser;
        provided, however, the date is within the time limit set for the sale,
        purchase and payment of the purchase price for the first part thereof.

14.2    Unless otherwise agreed by the Purchaser and the Vendor, the Purchaser
        shall deliver to the Vendor:

        14.2.1  In the circumstances contemplated by Section 9.1, when
                Pettigrew, Pettigrew's Corporation and/or Pettigrew's estate is
                the Vendor, in the case of Proceeds being payable to the
                Corporation in respect of the death of Pettigrew or his
                Disability, the Corporation (acting as Purchaser) shall, subject
                to Section 10.1, remit to the Vendor the lesser of (i) the
                purchase price for such Shares and (ii) up to the amount of life
                insurance Proceeds paid to the Corporation, a certified cheque
                for the full amount payable under Section 9.1;

        14.2.2  In the circumstances contemplated by Article 12 and also subject
                to the provisions set forth in the Articles:

                (1)     a certified cheque in an amount equal to forty percent
                        (40%) of the purchase price, except in case of
                        bankruptcy where the amount of certified cheque shall be
                        limited to ten percent (10%) of the purchase price; and

                (2)     a Promissory Note of the Purchaser of the balance of the
                        purchase price, payable over three (3) years in equal
                        annual instalments of principal and interest with
                        interest at the prime commercial lending rate of the
                        Corporation's bankers determined as at the Closing,
                        except in case of bankruptcy where the purchase price
                        shall be payable over seven (7) years in equal annual
                        instalments of principal and interest at the prime
                        commercial lending rate of the Corporation's bankers
                        determined as at the Closing.

        14.2.3  In all other circumstances, including without limitation, a sale
                of shares pursuant to Section 11.1, one hundred percent (100%)
                of the purchase price shall be paid at closing;

        14.2.4  In the case where a Promissory Note is issued by the Purchaser,
                a hypothecation, of the Shares or Convertible Debenture which
                are the subject matter of the sale and purchase, to the
                Corporation's legal counsel in each case to be held in trust for
                the Vendor and the given Purchaser as their interests appear
                under the terms of this Amended and Restated Agreement;

        14.2.5  Any on demand or no term indebtedness owing by the Corporation
                to the Vendor shall be repaid by the Corporation to the Vendor
                within a one (1) year period of the closing of the sale of the
                Shares or Convertible Debenture, it being understood that this
                term of payment is in favour of the Corporation;
<PAGE>
                                                                              31

        14.2.6  A release of all guarantees given by the Vendor (including
                Pettigrew's wife, Luz Dary Quintero, if Pettigrew is the Vendor
                and including Pettigrew and his wife Luz Dary Quintero, if the
                Vendor is Pettigrew's Corporation) in respect of the
                Corporation's indebtedness and all collateral security relating
                thereto. If the Purchaser is unable to obtain such releases by
                Closing, the Purchaser shall indemnify, in writing, the Vendor
                (and Pettigrew if the Vendor is Pettigrew's Corporation) against
                all claims on such guarantees and shall continue to use best
                efforts to obtain the release of such guarantees.

14.3    Unless otherwise agreed by the Purchaser and the Vendor, at the Closing,
        the Vendor shall deliver to the Purchaser the following:

        14.3.1  Share certificates for all Vendor's Shares duly endorsed for
                transfer in blank;

        14.3.2  Resignation of Vendor's nominee directors from the board of
                directors of the Corporation.

14.4    Unless otherwise agreed by the Purchaser and the Vendor and subject to
        Subsection 14.2.4, after closing provided in Article 14, the Vendor
        shall not, thereafter, be entitled to any dividends or other
        distributions which may be declared and become payable on those Shares
        being sold and in the event that such Shares are hypothecated, such
        dividends or other distribution shall be paid by the Corporation to its
        legal counsel, who shall in turn apply such dividends or other
        distributions in payment of the purchase price to the extent that such
        dividends or other distributions are in cash. To the extent that such
        dividends or other distributions are not in cash, they shall be held by
        the legal counsel of the Corporation on the same terms and subject to
        the same conditions as those on which the Shares on which the dividends
        or other distributions have been made are held.

              Article 15 CONDUCT OF THE AFFAIRS OF THE CORPORATION

15.1    Notwithstanding any other provision of this Amended and Restated
        Agreement, no obligation of the Corporation will be binding on it, and
        no action will be taken by or with respect to the Corporation in respect
        of any of the matters set forth below, without the prior written consent
        of Shareholders holding not less than eighty percent (80%) in aggregate
        of the voting rights in issued Shares and also, without the specific
        prior written consent of SGF Tech (provided that such specific veto
        right of SGF Tech shall cease to apply if more than 50% of the Class "E"
        shares issued and outstanding are transferred to a Person identified in
        Schedule 15.1); the powers of the Board are removed and exercised by the
        Shareholders accordingly; this Section 15.1 constitutes a Unanimous
        Shareholders' Agreement in accordance with Sections 123.91 to 123.93 of
        the Companies Act (Quebec).

        15.1.1  Subject to the provisions of this Article 15 and Section 16.4 of
                this Amended and Restated Agreement, any change in the number of
                directors and any action which would impair the rights of any
                Shareholder to nominate their representatives to the Board;

        15.1.2  the salary, bonuses or other compensation to be paid by the
                Corporation to the President and Chief Executive Officer, except
                as agreed in the Employment Agreement or in the Stock Option
                Plan or bonus plan to be put in place by the Corporation for its
                Senior Officers;

<PAGE>
                                                                              32

        15.1.3  the adoption, replacement, repeal or modification of any
                remuneration policy and the payment of any remuneration which is
                not in accordance with such policy;

        15.1.4  subject to the provisions of this Article 15 and Section 16.4 of
                this Amended and Restated Agreement, any change of the quorum of
                the meetings of the Board and of Shareholders;

        15.1.5  the approval of the annual audited consolidated and
                non-consolidated financial statements of the Corporation;

        15.1.6  any change in the Auditors of the Corporation;

        15.1.7  the appointment of the President and the determination of the
                conditions hereof;

        15.1.8  any change to the nature of the Corporation or of the Business,
                as currently carried on by the Corporation, except as set out in
                the business plan of the Corporation, as may be modified
                pursuant to this Article 15 (the "BUSINESS Plan");

        15.1.9  the approval of the annual Business Plan;

        15.1.10 any change in the head office and principal place of business of
                the Corporation outside the Metropolitan Region of Montreal;

        15.1.11 the adoption or modification of annual comprehensive operating
                budgets and capital expenditure budgets of the Corporation and
                of its Subsidiaries, including, without limitation, all
                inter-corporation charges among the Corporation, its
                Subsidiaries and its Affiliates, and the authorization of any
                derogations from such budgets which, in the case of the
                operating or capital expenditure budget, as the case may be,
                exceed individually or in the aggregate ten percent (10%) of the
                amounts provided under the main headings of the operating budget
                or globally under the capital expenditure budget, as the case
                may be;

        15.1.12 the adoption or material modification of the annual marketing
                plan of the Corporation;

        15.1.13 the establishment of any committee of the Board;

        15.1.14 any acceptance and go-ahead on a production of the Corporation
                which exceeds One Million Canadian Dollars (CDN$1,000,000) in
                budget (excluding direct and indirect producer and
                administrative fees and profits of Corporation's Subsidiaries),
                except:

                (1)     when the total budget production is between One Million
                        Canadian Dollars (CDN$1,000,000) and Five Million
                        Canadian Dollars (CDN$5,000,000) if at least eighty
                        percent (80%) of the production budget (excluding direct
                        and indirect producer and administrative fees and
                        profits of Corporation's Subsidiaries) is covered by
                        financings, commitments, agreements, tax credits and tax
                        advantages, by among others, co-producers, distributors,
                        sponsors, bankers, lenders, financial partners,
                        governments and/or other parties; and

                (2)     when the total budget production is more than Five
                        Million Canadian Dollars (CDN$5,000,000), if at least
                        ninety percent (90%) of the production budget (excluding
                        direct and indirect producer and administrative fees and
                        profits of Corporation's Subsidiaries) is covered

<PAGE>
                                                                              33

                        by financings, commitments, agreements, tax credits and
                        tax advantages by, among others, co-producers,
                        distributors, sponsors, bankers, lenders, financial
                        partners, governments and/or other parties.

                For the purposes of this Subsection 15.1.14 deferred payments
                may be considered as financings when said differed payments
                shall be made out of the production revenues.

        15.1.15 The voluntary liquidation, dissolution, winding-up of the
                Corporation, its consolidation, amalgamation, reorganization or
                merger with another Person, or the creation of a Subsidiary of
                the Corporation, except a Subsidiary created for the purposes of
                developing, producing or co-producing a project.

        15.1.16 Any assignment of the assets of the Corporation in bankruptcy,
                deposit of a proposal in bankruptcy and any other recourse for
                the protection of debtors.

        15.1.17 The approval of transactions out of the ordinary course of
                business of the Corporation including, without limiting the
                generality of the foregoing, the following:

                (1)     any sale, acquisition or lease of immovable property of
                        more than One Hundred Thousand Canadian Dollars
                        (CDN$100,000);

                (2)     the borrowing of money or the giving of security where
                        the total amount, in each case, exceeds, singly or in
                        the aggregate, Five Hundred Thousand Dollars ($500,000)
                        in any one year, except if already in the Corporation's
                        budgets or Business Plans approved by the Board;

                (3)     the granting of a loan or other financial aid of more
                        than Twenty-Five Thousand Canadian Dollars (CDN$25,000)
                        to or the guaranteeing of more than Twenty-Five Thousand
                        Canadian Dollars (CDN$25,000) of a debt of a Shareholder
                        or an Affiliate of a Shareholder;

                (4)     any acquisition or Disposition by the Corporation,
                        including by way of license of any asset of the
                        Corporation worth more than One Hundred Thousand
                        Canadian Dollars (CDN$100,000) if not already in the
                        Corporation's budgets or Business Plans approved by the
                        Board or the granting by the Corporation of an option to
                        the same effect;

                (5)     the acquisition of capital assets not provided for in
                        the annual budget when the total amount, in each case,
                        exceeds, singly or in the aggregate or one hundred
                        thousand Canadian Dollars ($100,000) in any one year;

                (6)     any sale of shares of any Subsidiaries, except in the
                        normal course of business to a co-producer of a project;

                (7)     the sale of all or substantially all of the assets of
                        the Corporation;

                (8)     the acquisition of an interest in another corporation,
                        partnership, firm or business for an amount of more than
                        One Hundred Thousand Canadian Dollars (CDN$100,000);

                (9)     the entering into or modification of a contract where
                        the term of such contract, including any renewal options
                        in favour of the other party, exceeds one (1) year or
                        where the total consideration thereunder exceeds Two
                        Hundred and Fifty Thousand Canadian Dollars
                        (CDN$250,000); and
<PAGE>
                                                                              34

                (10)    any licensing agreement where the total consideration
                        hereunder exceeds CDN$250,000.

        15.1.18 Any change in the Articles or By-Laws of the Corporation and of
                its Subsidiaries.

        15.1.19 Except as provided in the Articles, any matters relating to the
                payment of dividends, distribution of surplus, repurchase or
                redemption of Shares of the Corporation, except as provided in
                this Amended and Restated Agreement or the Employment Agreement.

        15.1.20 Any sale, transfer, assignment or other disposal of Shares of
                the Corporation, except if made in accordance with the
                provisions of this Amended and Restated Agreement, the Option to
                Pettigrew, the Convertible Debenture, the Lions Gate Debenture
                or the Stock Option Plan.

        15.1.21 The allotment, issue, redemption or repurchase of Shares,
                Securities or the entering into of any agreement or the making
                of an offeror, the granting of any right or option which may
                constitute an undertaking to do any of the foregoing
                transactions or any amendment to the Stock Option Plan, any
                issuance of Shares and options and other Securities of the
                Corporation, except for those issued under:

                (1)     the Option to Pettigrew;

                (2)     the Option to Faire Trust;

                (3)     the Stock Option Plan;

                (4)     the Convertible Debenture;

                (5)     if in the reasonable opinion of a majority of members of
                        the Board of the Corporation and subject to pre-emptive
                        rights herein an issue of Shares is necessary because
                        the Corporation has a cash balance of Five Hundred
                        Thousand Canadian Dollars (CDN$500,000) or less after
                        reserving cash to meet the Corporation's short-term then
                        outstanding obligations, debts and liabilities and no
                        other source of financing is reasonably acceptable and
                        available (including without limitation issues of Shares
                        to Shareholders), at standard business terms;

                (6)     Shares issued following the automatic conversions
                        provided for in Section 16.2 and Shares issued pursuant
                        to Sections 16.3 and 16.6;

                (7)     the Lions Gate Debenture;

                (8)     adjustment mechanism, as provided in Article 3 of the
                        Subscription Agreement; and

                (9)     the privilege of exchange of SGF Tech, the automatic
                        exchange of Class E shares and the adjustments to the
                        exchange ratio, the public listing exchange ratio and
                        the issuance of Class F shares as described in the
                        Articles of Amendment of the Corporation dated July 9,
                        2001.

        15.1.22 Any Material transaction between the Corporation and a Related
                Party of the Corporation, any Shareholder of the Corporation or
                any of their Affiliates or their Subsidiaries (the
                "INTER-CORPORATION ARRANGEMENTS"); all Inter-corporation
                Arrangements must be reflected in writing;

<PAGE>
                                                                              35

        15.1.23 The institution of any legal proceeding material to the Business
                and operations of the Corporation or the settlement of any such
                legal proceeding (excluding, in both cases, actions on accounts
                and lawsuits in respect of the rights and obligations of the
                Parties pursuant to this Amended and Restated Agreement or
                otherwise as well as any emergency recourse of the nature of an
                injunction such as the Anton Pillar remedy and Mareva
                injunction) when the amount in question exceeds Fifty Thousand
                Canadian Dollars (CDN$50,000).

        In addition, the parties hereto covenant and agree that any change in
        the name of the Corporation shall require the consent of Pettigrew as
        long as Pettigrew shall be the President and Chief Executive Officer of
        the Corporation or hold (directly and/or through Pettigrew's
        Corporation) more than ten percent (10%) of the aggregate of Class A,
        Class B and Class P Shares and that a Public Listing shall require the
        specific prior consent of SGF Tech or any listing or posting of the
        Shares on any stock market.

15.2    Subject to the terms of the Employment Agreement, the parties hereto
        covenant and agree that the President and Chief Executive Officer of the
        Corporation choses and dismisses senior executives (excluding the
        president, chief executive officer, vice-presidents, secretary,
        assistant-secretary and treasurer who are appointed by the Board) and
        employees of the Corporation and its Subsidiaries and establishes their
        remuneration.

15.3    The Shareholders hereto covenant and agree that there shall be nine (9)
        members to be elected to the Board; a majority of said directors must be
        Quebec Residents, except if Section 16.7 becomes applicable.

15.4    The parties here covenant and agree that each of the Shareholders shall
        be entitled to nominate Directors to the Board as follows and each
        Shareholder covenant and agree to exercise his or its voting rights
        consequently:

        15.4.1  As long as Cinepix shall own fifty percent (50%) or more of the
                voting rights in issued Class A, Class B, Class E and Class P
                Shares of the Corporation, it may elect five (5) directors to
                the Board;

        15.4.2  If Cinepix shall own between twenty percent (20%) and fifty
                percent (50%) of the voting rights in issued Class A, Class B,
                Class E and Class P Shares of the Corporation, it may elect two
                (2) directors to the Board;

        15.4.3  If Cinepix shall own between five percent (5%) and twenty
                percent (20%) of the voting rights in issued Class A, Class B,
                Class E and Class P Shares of the Corporation, it may elect one
                (1) director to the Board;

        15.4.4  If Pettigrew and/or Pettigrew's Corporation shall own fifty
                percent (50%) or more of the voting rights in issued Class A,
                Class B, Class E and Class P Shares of the Corporation, he/it
                may elect five (5) directors to the Board;

        15.4.5  If Pettigrew and/or Pettigrew's Corporation shall own between
                twenty percent (20%) and fifty percent (50%) of the voting
                rights in issued Class A, Class B, Class E and Class P Shares of
                the Corporation, he/it may elect two (2) directors to the Board;

        15.4.6  As long as Pettigrew and/or Pettigrew's Corporation shall own
                between three percent (3%) and twenty percent (20%) of the
                voting rights in issued Class A, Class B, Class E and Class P
                Shares of the Corporation or as long as Pettigrew

<PAGE>
                                                                              36

                is a Senior Officer of the Corporation, he/it may elect one (1)
                director to the Board;

        15.4.7  If Faire Trust shall own six percent (6%) or more of the voting
                rights in issued Class A, Class B, Class E and Class P Shares of
                the Corporation, it may elect one (1) director to the Board. As
                long as Faire Trust shall own Shares with voting rights, if
                Faire Trust does not have the right to nominate a director, it
                shall have the right to appoint a non-voting observer on the
                Board;

        15.4.8  As long as Fox Family shall own six percent (6%) or more of the
                voting rights in issued Class A, Class B, Class E and Class P
                Shares of the Corporation, it may elect one (1) director to the
                Board. As long as Fox Family shall own Shares with voting
                rights, if Fox Family does not have the right to nominate a
                director, it shall have the right to appoint a non-voting
                observer on the Board;

        15.4.9  As long as SGF Tech shall own thirty five percent (35%) or more
                of the voting rights in issued Class A, Class B, Class E and
                Class P Shares of the Corporation, it may elect two (2)
                directors and appoint one (1) non-voting observer to the Board;

        15.4.10 If SGF Tech shall own five percent (5%) or more, but less than
                thirty five percent (35%) of the voting rights in issued Class
                A, Class B, Class E and Class P Shares of the Corporation, it
                may elect one (1) director to the Board.

        For greater certainty, subject to Section 15.5, only the Shareholder
        having appointed his or its Director to the Board may remove him from
        office and in the event of a vacancy to the board of directors, the
        Shareholder who appointed the director may only fill the vacancy and all
        the other Shareholders agree to vote in favour of the appointment of
        such new nominee.

15.5    In the event that a Shareholder loses the right to nominate a Director
        on the Board, such Shareholder shall cause his Director or one of its
        Directors, as the case may be, to resign in a timely manner.

15.6    Prior to the making of any Material Inter-corporation Arrangement out of
        the normal course of business, except an Inter-Corporation Arrangement
        involving the Corporation and one of the Subsidiaries or involving two
        direct or indirect Subsidiaries of the Corporation, the nature of the
        contract, the parties thereto and any Person receiving any commission or
        consideration in respect of the proposed contract shall be fully
        disclosed to the Shareholders and each Party shall disclose to all the
        other Shareholders any Material interest in the proposed contract or the
        identity of any Related Party or any Third Party who would receive any
        commission or consideration in respect thereof. The consents of the
        Shareholder with an interest in any such Related Party shall not be
        required in respect of any resolution relating thereto, and no
        representative of any such interested Shareholder on a Board shall be
        entitled to vote in respect of any resolution relating thereto. The
        determination of the rights to be asserted and course of action to be
        taken by the Corporation, if any, with respect to a Material
        Inter-corporation Arrangement out of the ordinary course of business,
        shall be made without the participation, approval or consent of any
        Shareholder having a direct or indirect interest in such Related Party,
        and the Directors and other Shareholder in making any determination with
        respect thereto shall act strictly in the best interests of the
        Corporation.

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                                                                              37

15.7    A report listing all inter-corporation charges among, on the one part,
        the Corporation and its Subsidiaries and, on the other part, their
        Related Parties for the immediately preceding financial year shall be
        presented annually to the Board for ratification no later than the 60th
        day following the end of the financial year. Such report shall include
        (i) the description of services who provided to or by a Related Party of
        the Corporation and a description of the nature and extent of such
        services and charges therefor, and (ii) details of all transfers of
        funds between the Corporation and Persons who/which are Related Parties
        thereto, including their purpose and amounts.

15.8    The Board shall hold meetings not less than four (4) times in each
        fiscal year, which quarterly meetings shall take place within forty-five
        (45) days of the end of each quarter of the financial year, except the
        fourth quarter which shall take place within seventy-five (75) days of
        the year end. Each Director and any observer appointed by Faire Trust
        pursuant to Section 15.4.7 shall be reimbursed his out-of-pocket
        expenses to attend each meeting of the Board and outside Directors will
        have the right to receive a reasonable Director's fee.

15.9    Notices of meetings of the Board shall be sent not less than ten (10)
        days in advance. They shall be accompanied by a brief but complete
        summary of all business on the agenda of the meeting. Not later than
        five (5) days prior to the date of the meeting, each director shall have
        received copies of all documents necessary or useful to allow the
        directors to make an informed decision.

15.10   The parties covenant and agree that the quorum for meetings of the Board
        shall require a majority of the Directors to be present and that, within
        that majority, at least one (1) representative of each of Cinepix,
        Pettigrew and SGF Tech, if any at all relevant time, must be present. In
        the event that the absence of one representative of Cinepix, Pettigrew
        or SGF Tech causes a meeting of the Board to be adjourned to a date
        which may not be earlier than five (5) Business Days (or not to be
        earlier than two (2) Business Days in case of urgency) or later than ten
        (10) Business Days after the originally convened meeting, quorum for
        such adjourned meeting shall only require a majority of the directors to
        be present.

15.11   A Director of the Corporation may participate at a meeting of the Board
        by means of conference call or other telecommunication means allowing
        all participants to the meeting to communicate between themselves. Such
        a Director is deemed to be present at such a meeting as any other
        Director present physically.

15.12   Each Party hereto shall at all times carry out and use its best efforts
        to cause the Corporation and, to the extent permitted by Applicable Law,
        its nominees on the Board to carry out the provisions of this Amended
        and Restated Agreement. Each Party hereto shall duly and punctually do,
        or cause to be done, all such things, including without limitation,
        voting or causing to be voted all the Shares held by such Party as shall
        be necessary or desirable to give effect to this Amended and Restated
        Agreement.

15.13   The Parties covenant and agree that the quorum for meetings of
        Shareholders shall be a majority in votes of the Shareholders present
        personally or by proxy including the vote of Cinepix, Pettigrew, Fiducie
        Pettigrew and SGF Tech. In the event that the absence of Cinepix,
        Pettigrew, Fiducie Pettigrew and SGF Tech causes a meeting of the
        Shareholders to be adjourned to a date which may not be earlier than
        five (5) Business Days (or not to be earlier than two (2) Business Days
        in case of urgency) or later than ten (10) Business Days

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                                                                              38

        after the originally convened meeting, quorum for such adjourned meeting
        shall only require a majority (in number of the Shareholders to be
        present personally or by proxy). The quorum for special meetings of
        class of shareholders shall require a majority in votes of the
        shareholders of said class to be present personally or by proxy, except
        as otherwise provided in the Articles.

15.14   Unless otherwise stipulated in this Amended and Restated Agreement or in
        the Articles, the parties covenant and agree that questions to be
        decided by any meeting of Shareholders or the Board shall be decided by
        a majority vote.

15.15   No Shareholder or Director, whether chairman of a Shareholders' meeting
        or chairman of the Board or otherwise shall exercise a casting vote.

15.16   Unless otherwise decided by the Board and subject to Pettigrew's rights
        provided for in the Employment Agreement, Pettigrew is the President and
        Chief Executive Officer. The vice-presidents, the secretary and the
        treasurer as well as an assistant-secretary of the Corporation shall be
        nominated by resolutions of the Board.

15.17   Until replaced by decision of the Shareholders pursuant to Section 15.1,
        Samson Belair Deloitte & Touche of Montreal are chosen as Auditors of
        the Corporation and its Subsidiaries.

15.18    The parties covenant and agree that unless decided otherwise by the
         Board, the President shall exercise the voting rights of the
         Corporation as shareholder of any of its Subsidiaries or any other
         company and shall be authorized signatory of the Corporation for such
         purposes in accordance with the instructions of the Board.

          Article 16 TRANSFER OF VOTING RIGHTS; CONVERSION OF SHARES;
                        QUEBEC CONTROL; SHARES IN TRUST

16.1    In the event of any transaction or agreement of any sort whatsoever
        (including a transfer of Shares) to which either or both Cinepix Films,
        Cinepix (and their successors or assigns) or their direct or indirect
        shareholders are party, that but for the provisions of this Article 16,
        would result in the loss of the Quebec Tax Credits and/or Canadian Tax
        Credits by the Corporation, the Shareholders and the Corporation agree
        that a voting trust with respect to Cinepix's Shares in the Corporation
        and its successors' or assigns' Shares in the Corporation will be
        granted to Pettigrew (or, if he is no longer an Officer of the
        Corporation, to the highest ranking Quebec Officer of the Corporation)
        and this voting trust will automatically become effective immediately
        prior to the occurrence of such event and shall remain in effect for a
        period of ninety (90) days from the earliest of a) the receipt of any
        notice of such a possible transfer, transaction or other agreement to
        the Corporation and to Pettigrew (or to said highest ranking Quebec
        Officer) or b) the day the Corporation and/or Pettigrew (or said highest
        ranking Quebec Officer) finds out about such possible transfer,
        transaction or other agreement by any other means. During the period of
        the voting trust, Cinepix and Cinepix Films shall be entitled (but not
        obliged) to take such steps as each of them determines necessary or
        advisable to ensure that the Corporation continues to be eligible for
        the Quebec Tax Credits and/or Canadian Tax Credits (as applicable). The
        Shareholders and the Corporation hereby undertake and agree to do all
        reasonable acts and to provide such assistance as may be requested of
        them by Cinepix in this regard. The Corporation's eligibility for such
        tax credits will be determined pursuant to an affirmative written
<PAGE>
                                                                              39

        unrestricted legal opinion obtained from an independent Quebec legal
        counsel retained jointly by the Corporation, Pettigrew, (or the highest
        ranking Quebec Officer, if Pettigrew is no longer an Officer of the
        Corporation), SGF Tech and Cinepix at the Corporation's costs. Provided
        such an affirmative written unrestricted legal opinion is obtained
        within the said 90-day period, the voting trust will terminate.

16.2    If at the end of such 90-day period while the voting trust is in force,
        no such affirmative written unrestricted legal opinion has been obtained
        or the then shareholder(s) of Cinepix Films and/or Cinepix (or its
        successors and assigns), as the case may be, has (have) not rectified
        or, as the case may be, may not rectify, the situation to the
        satisfaction of the independent Quebec legal counsel (as confirmed by
        such counsel in a written unrestricted legal opinion) in such a way that
        the Corporation will not lose the benefit of the Quebec Tax Credits
        and/or the Canadian Tax Credits, then all of the following events will
        occur simultaneously:

        16.2.1  all Class P Shares held by Pettigrew and Pettigrew's Corporation
                and their successors or assigns in the Corporation will be
                automatically converted into Class B Shares;

        16.2.2  thereafter, the Convertible Debenture, if still held by Cinepix
                or any other person (other than Pettigrew and Pettigrew's
                Corporation or their successors or assigns), automatically
                ceases to be convertible into Class B Shares and can only be
                converted into Class A Shares; and

        16.2.3  all Class B Shares of the Corporation (except for the Class B
                Shares held by Pettigrew and Pettigrew's Corporation or their
                successors or assigns following the conversion of the Class P
                Shares into Class B Shares which are being converted
                simultaneously) will be automatically converted into Class A
                Shares.

16.3    In addition to the provisions of Section 16.2 above, if Pettigrew and/or
        Pettigrew's Corporation does not own enough Shares to obtain (with other
        holders who are Quebec Residents) a 51% voting Control of the
        Corporation (or such control of the Corporation by Quebec Residents as
        is necessary for the Corporation to remain eligible for the Quebec Tax
        Credits and/or Canadian Tax Credits), (or if Pettigrew is no longer an
        Officer of the Corporation, if the highest ranking Quebec Officer of the
        Corporation does not have with other holders who are Quebec Residents
        such a fifty-one percent (51%) voting Control of the Corporation (or
        such control of the Corporation by Quebec Residents as is necessary for
        the Corporation to remain eligible for the Quebec Tax Credits and/or
        Canadian Tax Credits)), Pettigrew or the highest ranking Quebec Officer
        of the Corporation, as the case may be, shall have the right to receive,
        at no cost, except a nominal value of One Dollar ($1.00) (and without
        tax consequences), a sufficient number of Class C Shares to achieve the
        required control, it being understood that such Class C Shares will be
        redeemed by the Corporation if holders who are Quebec Residents
        eventually come to achieve the required control . Any tax consequences
        will be borne by the Corporation.

16.4    When the voting trust mechanism provided in this Article 16 is
        triggered, Pettigrew (or the highest ranking Quebec Officer of the
        Corporation, if Pettigrew is no longer an Officer of the Corporation) is
        automatically granted the right to appoint such number of Directors to
        obtain a majority in Board members (if necessary, the number of
        Directors will be increased

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                                                                              40

        to such number required, notwithstanding the provisions of Section15.3),
        it being understood that the Shareholders (except Pettigrew and
        Pettigrew's Corporation if Pettigrew is benefiting of the voting trust
        mechanism provided for in this Article 16) shall maintain their rights
        to appoint the same number of directors they had the right to appoint as
        of the date of beginning of the voting trust mechanism, as outlined in
        Section 15.4.

16.5    Given the fact that eligibility of the Corporation for the Quebec Tax
        Credits is based on a Control of the Corporation by Quebec Residents,
        the Shareholders, the Corporation, Cinepix Inc. and Cinepix Films agree
        that the Shares owned by Cinepix in the Corporation as well as Shares
        owned by Cinepix Films in Cinepix from time to time (collectively the
        "VOTING TRUST Shares") may not be directly or indirectly transferred or
        agreements with respect to exercise of voting rights of the Voting Trust
        Shares cannot be entered into before a 45-day prior written notice has
        been given to the Chief Executive Officer of the Corporation. This
        Section 16.5 will cease to apply if Pettigrew and/or Pettigrew's
        Corporation have Control of the Corporation.

16.6    Any issuance of voting Shares (to Persons other than to SGF Tech)
        occurring after Article 16 has given voting Control to Pettigrew or to
        the highest ranking Quebec Officer of the Corporation shall require
        additional and simultaneous issues of Class C Shares to Pettigrew or, as
        the case may be, the highest ranking Quebec Officer of the Corporation,
        to the extent necessary to ensure that the Control of the Corporation be
        preserved in the hands of Quebec Residents. Such additional issues of
        Class C Shares shall be made at nominal value and without tax
        consequences for their holder.

16.7    This Article 16 shall cease to apply (without retroactive effects) if
        the aggregate of the Quebec Tax Credits and the Canadian Tax Credits
        (without taking into account any expected loss of these credits
        resulting from any transaction or agreement contemplated in Section
        16.1) represent for a given financial year (of twelve (12) months) and
        are expected to represent for the following financial year (of twelve
        (12) months) (according to the then approved budget) less than five
        percent (5%) of the Corporation's annual revenues.

16.8    It is also agreed that this Article 16 shall not apply to said
        transaction or agreement (but may apply to subsequent transactions or
        agreements): (1) in the case of an expected loss of the Quebec Tax
        Credits only, resulting from said transaction or agreement, if the
        Quebec Tax Credits (without taking into account the expected loss of the
        Quebec Tax Credits) represent for a given financial year (of twelve (12)
        months) and are expected to represent for the following financial year
        (of twelve (12) months) (according to the then approved budget) less
        than two percent (2%) of the Corporation's annual revenues; or (2) in
        the case of an expected loss of the Canadian Tax Credits only, resulting
        from said transaction or agreement, if the Canadian Tax Credits (without
        taking into account the expected loss of the Canadian Tax Credits)
        represent for a given financial year (of twelve (12) months) and are
        expected to represent for the following financial year (of twelve (12)
        months) (according to the then approved budget) less than two percent
        (2%) of the Corporation's annual revenues.

16.9    The Shareholders and the Corporation agree that the spirit of the
        provisions of Article 16 should be preserved in as much as possible
        after the Corporation has successfully completed a Public Listing and,
        in this respect, to execute any agreement or other instrument reasonably
        required for such purpose.

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                                                                              41

                              Article 17 FINANCING

17.1    Except for existing investments, loans or guarantees by the Shareholders
        with respect to the Corporation, none of the Shareholders shall have any
        obligation to provide, or to arrange for or to cause others to provide,
        any financing to the Corporation, whether by way of subscription for
        Shares, the making of loans, the giving of guarantees or otherwise.

17.2    Except as provided for in Subsection 15.1.21(e), nothing contained in
        this Amended and Restated Agreement restricts the right of the
        Corporation to obtain financing through loans and other financial
        instruments.

17.3    Without restricting Section 17.1, and except as provided in Article 18
        or in any agreement duly accepted by the Corporation, any loans and
        advances made by a Shareholder to the Corporation (and its Subsidiaries
        or Affiliates) shall bear from the date of execution of this Amended and
        Restated Agreement an annual rate of interest equal to the prime
        commercial lending rate of the Corporation's banker plus one percent
        (1%).

17.4    Without restricting Section 17.1, any Shareholder who guarantees the
        debts or obligations of the Corporation (and its Subsidiaries and
        Affiliates) shall have a right to receive from the Corporation (or, as
        the case may be, its Subsidiaries and Affiliates): a) upon execution of
        any guarantee, a fee equivalent to one percent (1%) of the amount of
        guarantee plus the reimbursement by the Corporation of any reasonable
        bank fees as accepted by the Corporation; and b) from April 1st 2000 an
        annual fee equivalent to one percent (1%) of the averaged yearly amount
        of guarantees which is in place during each financial year of the
        Corporation (or, as the case may be, its Subsidiaries and Affiliates'
        financial year). For greater certainty, for purposes of Section 17.4,
        guarantees of Corporation's debts and obligations by a Shareholder,
        existing as of April 1st 2000 shall be deemed to be executed as of the
        date of this Amended and Restated Agreement. Notwithstanding anything to
        the contrary herein, this Section is not applicable, and shall not
        modify the terms and conditions of that certain Guarantee and
        Acknowledgement executed on December 22, 2000 by the Corporation,
        Cinegroupe SaGwa Inc., Pettigrew and Faire Trust.

                        Article 18 ADDITIONAL FINANCING

18.1    In the event an injection of funds in the Corporation becomes necessary
        in order to prevent cessation or material curtailment of its
        consolidated activities, including, without limitation, in order to
        prevent the Corporation being in default under its Material agreements
        (including pursuant to financial covenants), to prevent a petition in
        bankruptcy being filed against the Corporation or to prevent a seizure
        of a substantive portion of its assets, and provided the Corporation has
        exhausted all other avenues and recourses and no sources of conventional
        financing are reasonably available, should additional funds be required
        by the Corporation, upon reasonable conditions, any Shareholder shall be
        entitled, in his or its sole discretion, to contribute the funds
        required by the Corporation by way of a loan made by such Shareholder
        (the "LENDING SHAREHOLDER"), which loan the Corporation shall be
        required to accept, subject to the terms and conditions set out below:

        18.1.1  the loan made by the Lending Shareholder shall be repayable on
                demand and shall bear interest at an annual rate equal to the
                prime rate of the principal banker financing the ongoing
                operations of the Corporation, plus a four percent (4%)

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                                                                              42

                premium computed daily, payable monthly on the first day of each
                month following disbursement (the "EMERGENCY LOAN");

        18.1.2  the repayment of the Emergency Loan shall be secured, as of
                disbursement, by a first-ranking mortgage on all the property of
                the Corporation or its Subsidiaries, as the case may be, or a
                mortgage having the then best-available rank for each class of
                property; provided that such security shall also enure to the
                benefit of all Shareholders having contributed their
                Proportional Share of the Emergency Loan, as defined below;

        18.1.3  the Lending Shareholder may, in this respect, pay a creditor of
                the Corporation or its Subsidiaries, as the case may be,
                directly, for and on behalf, and to the discharge, of the
                Corporation or its Subsidiaries.

18.2    The Corporation shall notify the other Shareholders in writing as soon
        as it shall have been granted the Emergency Loan, indicating the
        identity of the Lending Shareholder and the amount of the Emergency
        Loan.

18.3    Within thirty (30) days following receipt of notice from the Corporation
        pursuant to the preceding Section, each other Shareholder shall have the
        option of making an additional contribution of funds in an amount equal
        to his or its proportional share of the Emergency Loan, computed on a
        Pro Rata Basis (the "PROPORTIONAL SHARE OF THE EMERGENCY LOAN"). Such
        additional contribution of funds to the Corporation shall be used to
        repay unto the Lending Shareholder loan to the latter's Proportional
        Share of the Emergency Loan.

18.4    Should a Shareholder refuse to contribute to the Corporation his or its
        whole Proportional Share of the Emergency Loan within said 30-day time
        period, he or it shall be deemed to have refused to exercise the option
        of contributing funds to the Corporation equal to his or its
        Proportional Share of the Emergency Loan; such Shareholder shall not be
        deemed in default hereunder for his refusal to contribute to the
        Emergency Loan.

18.5    If, upon expiry of the time limit set out in Section 18.3, a Shareholder
        has not exercised, or is deemed to have refused to exercise, his or its
        option to contribute his or its Proportional Share of the Emergency Loan
        in its entirety, the Corporation shall then notify forthwith the other
        Shareholders who sent the notice referred to in Section 18.3 and the
        latter shall have fifteen (15) Business Days following receipt of the
        notice of the Corporation, in order to confirm their intention to
        contribute funds in excess of their respective Proportional Share of the
        Emergency Loan according to the same conditions and pro rata to the
        number of Shares held by each of the Shareholders having contributed his
        or its entire Proportional Share of the Emergency Loan.

18.6    Should a Shareholder refuse to contribute his or its Proportional Share
        of the Emergency Loan in full to the Corporation, and, as a result, one
        or several of the Shareholders (including the Lending Shareholder)
        agrees to assume more than their Proportional Share of the Emergency
        Loan, then such Shareholders shall each, at any time, within three (3)
        years following disbursement of the Emergency Loan, in their discretion,
        be entitled to request the conversion of all or part of the funds
        contributed by them by way of Emergency Loan, both in principal and
        interest, into Class E Shares for SGF Tech and Class A Shares to the
        other Shareholders, at a conversion price equal to the Fair Market Value
        of the Class E Shares or the Class A Shares of the Corporation, as the
        case may be, at the time of disbursement of the

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                                                                              43

        Emergency Loan, as determined in accordance with Section 18.7 hereof,
        notwithstanding the effective date of the conversion.

18.7    Where any option to contribute granted pursuant to Article 18 is
        exercised by one or several Shareholders, or where a Shareholder
        exercises his or its right of conversion in accordance with Section
        18.6, the parties involved shall close the transaction within thirty
        (30) days following expiry of all the time limits set out in Section
        18.5, or following the request for conversion of the loan into Shares of
        the Corporation, as provided for in Section 18.6 hereof.

                   Article 19 UNDERTAKINGS OF THE CORPORATION

19.1    The Corporation undertakes not to directly or indirectly encumber or
        grant any hypothec in or to its Securities issued or to be issued by it.

19.2    For the purpose of Section 19.1, hypothec shall mean any hypothec,
        charge, pledge, lien or other encumbrance of any nature however arising,
        but excluding rights of set-off or compensation (other than rights of
        set-off or compensation in respect of cash or other assets deposited or
        pledged for the purpose of securing any liability) in favour of any bank
        or any other person arising in the ordinary course of business whether
        by operation of law or by contract as regards cash management, netting
        or derivative products (including swaps) arrangements of the Corporation
        or any of its Subsidiaries.

19.3    For so long as SGF Tech holds at least ten percent (10%) of the issued
        and outstanding Shares of the share capital of the Corporation, each of
        the Corporation and its Subsidiaries (except foreign Subsidiaries
        created in the normal course of business, with the consent of SGF Tech,
        and CINE-GROUP U.S. Inc., ANIMATOON CO. Ltd. and CHILIANIMACION
        LIMITADA) undertakes to keep its head office and principal place of
        business in Quebec and to provide SGF Tech with financial information on
        a timely and regular basis as provided in Sections 6.9 and 6.10 of the
        Subscription Agreement.

              Article 20 UNDERTAKINGS IN CASE OF A PUBLIC LISTING

20.1    In the case of Public Listing, the Shareholders (other than Pettigrew
        and/or Pettigrew's Corporation and SGF Tech) covenant and agree that
        they will consent in favour of Pettigrew (and/or Pettigrew's
        Corporation) that the latter may sell, if the underwriter or lead agent
        so accepts, in priority to all other Shareholders up to an aggregate
        value of One Million Canadian Dollars (CDN$1,000,000) of value of Shares
        in all such public offering(s) (including the Public Listing).

20.2    In the case of Public Listing, the Shareholders (other than Fox Family
        and Faire Trust) covenant and agree that they consent in favour of Fox
        Family and Faire Trust that Fox Family and Faire Trust may sell, if the
        underwriter or lead agent so accepts, in priority to all other
        Shareholders, but after the priority right provided for in Section 20.1,
        up to an aggregate value equivalent to, on a Pro Rata Basis between Fox
        Family and Faire Trust:

        20.2.1  in the case of Fox Family, Three Million Canadian Dollars
                (CDN$3,000,000) plus interest paid or payable pursuant to the
                loan agreement entered into between Faire Trust and Fox Family
                on June 23, 1998, as amended, referred to in Section 3.1; and

        20.2.2  in the case of Faire Trust, one half (1/2) the amount provided
                above in Subsection 20.2.1 plus, the amount provided in
                Subsection 20.2.1 if Faire Trust acquires all of Fox Family's
                Shares, directly or indirectly, by any means whatsoever;

        in all such offering(s) (including the Public Listing).

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                                                                              44

                   Article 21 REPRESENTATIONS AND WARRANTIES

21.1    Each Shareholder hereby represents and warrants the following to the
        other Shareholders, as of the date hereof:

        21.1.1  except in the case of Pettigrew who is an individual, and in the
                cases of Faire Trust and Fiducie Pettigrew which are trusts, it
                is a corporation duly organized, validly existing and in good
                standing under the laws pertaining to its incorporation;

        21.1.2  it (he) has all requisite power and authority to own and operate
                its assets, properties and business and to carry on its business
                as now conducted;

        21.1.3  it (he) has all requisite power, authority and approval required
                to enter into, execute and deliver this Amended and Restated
                Agreement and to perform fully its obligations hereunder;

        21.1.4  it (he) has taken all actions necessary to authorize it to enter
                into and perform its obligations under this Amended and Restated
                Agreement and this Amended and Restated Agreement is a legal,
                valid and binding obligation of it (him); and

        21.1.5  neither the execution and delivery of this Amended and Restated
                Agreement by it (him), nor the performance of its (his)
                obligations hereunder, will conflict with, or result in a breach
                of, or constitute a default under any provision of its
                constating documents or its by-laws, if applicable, or any law,
                judgment, order or decree of any Court or of any contract,
                agreement or other instrument to which it (he) is a party or by
                which it (he) is bound.

21.2    Other representations and warranties:

        21.2.1  Faire Trust represents and warrants to the other Shareholders
                that it is a duly organized, validly existing and a good
                standing trust under the laws of Ontario and Robert Paul is its
                sole trustee;

        21.2.2  Fiducie Pettigrew represents and warrants to the other
                Shareholders that it is a duly organized, validly existing and a
                good standing trust under the laws of Quebec and Pettigrew and
                Jacqueline Pettigrew are its sole trustees, and as long as
                Pettigrew shall remain a trustee of Fiducie Pettigrew, there
                shall be only Two (2) trustees of Fiducie Pettigrew.

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                                                                              45

21.3    Each of the Shareholders hereby covenants and agrees to do, and to use
        its (his) best efforts in order to cause to be done by any other person,
        all things or acts necessary or desirable so that its (his)
        representations and warranties contained in this Article remain in full
        force and effect at any time hereafter during the term of this
        Agreement.

                           Article 22 CONFIDENTIALITY

22.1    All confidential records, material and information and copies thereof,
        and all trade secrets (and without restricting the generality of the
        foregoing, including all confidential information and documentation
        relating to the products in which the Corporation and all its
        Subsidiaries have an interest and all intellectual property of the
        Corporation and all its Subsidiaries) concerning the Business of the
        Corporation and of all its Subsidiaries obtained by any of the
        Shareholders of the Corporation shall remain the exclusive property of
        the Corporation or of its Subsidiaries, as the case may be. During the
        term of this Amended and Restated Agreement, or at any time thereafter,
        each such persons shall not divulge the contents of such confidential
        records or any of such confidential information or trade secrets to any
        person other than to the Corporation or the Corporation's qualified
        employees, except as may be required by law or otherwise in the proper
        discharge of their duties for the Corporation and for the Corporation's
        Subsidiaries, and each such persons shall not, following the termination
        of this Amended and Restated Agreement and for a period of three (3)
        years thereafter, for any reason, use the contents of such confidential
        records or such confidential information or trade secrets for any
        purpose whatsoever. Under no circumstances shall any such persons remove
        any books, records or documents or copies thereof (whether or not
        confidential) from the offices of the Corporation or of the
        Subsidiaries, nor shall they make any copies of any such books, records
        or documents or copies thereof for use outside the offices of the
        Corporation or of the Subsidiaries, except as specifically authorized by
        the Board or into the Subscription Agreement or except in the proper
        discharge of their duties for the Corporation and for the Subsidiaries.

22.2    For the purposes hereof, confidential records, material and information
        include confidential or proprietary information known or used by the
        Corporation and/or its Subsidiaries in connection with the Corporation's
        and the Subsidiaries' Business, including but not limited to any matters
        relating to products owned by or in which the Corporation or its
        Subsidiaries has any interest including any scripts, all intellectual
        property owned by the Corporation or its Subsidiaries or in which it has
        an interest, information and documentation relating to output and/or
        distribution arrangements, compilation of information, data, program,
        code, method, technique or process, information about or relating to
        suppliers or customers of the Corporation and of its Subsidiaries and
        markets and marketing plans of the Corporation and of its Subsidiaries,
        present and future, information about or relating to potential business
        ventures of the Corporation and/or its Subsidiaries, financial
        information of all kinds relating to the Corporation and to its
        Subsidiaries and its activities, all inventions, ideas, and related
        material, but does not include any of the foregoing which is not of a
        confidential or proprietary nature or becomes a matter of public
        knowledge through no fault of any such persons concerned by this
        Article.

22.3    Without intending to limit the remedies available to the Corporation and
        to its Subsidiaries, the Shareholders of the Corporation acknowledge
        that damages at law will be an insufficient

<PAGE>
                                                                              46

        remedy to the Corporation and its Subsidiaries in view of the
        irreparable harm which will be suffered if the terms of Article 22 are
        violated by any of them, as the case may be, and agree that the
        Corporation and its Subsidiaries may apply for and have injunctive
        relief in any court of competent jurisdiction specifically to enforce
        any such covenants upon the breach or threatened breach of any such
        provisions, or otherwise specifically to enforce any such covenants and
        hereby waives all defences to the strict enforcement thereof by the
        Corporation and its Subsidiaries.

22.4    In the event that any provision, clause or covenant herein, or part
        thereof, shall be deemed void or invalid or unenforceable by a court of
        competent jurisdiction, the remaining provisions, clauses and covenants,
        and parts thereof, shall be and remain in full force and effect. If, in
        any judicial proceeding, any provision, clause or covenant of this
        Amended and Restated Agreement is found to be so broad as to be
        unenforceable, it is hereby agreed that such provision, clause or
        covenant shall be interpreted to be only so broad as it may be to be
        enforceable.

22.5    Notwithstanding Section 22.1, Shareholders are entitled to disclose to
        any potential buyer of their Shares and Convertible Debentures all
        relevant information in order to give to such potential buyer the
        opportunity to estimate the relevancy to acquire such Shares and
        Convertible Debenture subject to the fact that such potential buyer
        shall previously enter into a confidentiality agreement in favour of the
        Corporation and its Subsidiaries and copy of same is remitted to the
        Corporation.

22.6    Notwithstanding any provision to the contrary and any confidentiality
        undertaking or fiduciary duty, the Parties recognize that directors
        designated by SGF Tech to the Board shall be authorized to disclose
        information to the SOCIETE GENERALE DE FINANCEMENT as long as this
        information is used in good faith and not disclosed to a direct
        competitor of the Corporation and or any of its Subsidiaries.

                          Article 23 NON-SOLICITATION

23.1    Each of the Shareholders, except for SGF Tech, undertakes in favour of
        the other Shareholders, the Corporation and its Subsidiaries for so long
        as they or any Person which is a Related Party of any of them remains a
        Shareholder of the Corporation and for a period of at least three (3)
        years hereafter whether directly or indirectly, alone or in partnership
        or in association or jointly with any other Person, as principal, agent,
        shareholder, lender, guarantor, employee, partner, consultant or
        subcontractor or in any other manner, not to:

        23.1.1  except for Lions Gate, Fox Family and Faire Trust, solicit,
                interfere or endeavour to direct or entice away from the
                Corporation or its Subsidiaries any customer, client, supplier
                or any Persons in the habit of dealing with the Corporation or
                its Subsidiaries or other customers, clients, suppliers or
                Person, approached by the Corporation or its Subsidiaries during
                the year preceding the end of such Shareholder's relationship
                with the Corporation or its Subsidiaries; or

        23.1.2  encourage any employee, consultant, officer or Director of the
                Corporation or its Subsidiaries or of a Person offering
                management services to the Corporation or its Subsidiaries to
                leave the Corporation or employ or solicit for employment any
                employee, consultant, officer or Director who is at the time of
                employment

<PAGE>
                                                                              47

                or solicitation employed or rendered services to the
                Corporation, its Subsidiaries or to a Person offering management
                services to the Corporation or its Subsidiaries.

23.2    Each of the Shareholders acknowledges that its failure to respect its
        commitments and obligations set out in Section 23.1 would cause the
        Corporation and its Subsidiaries sufficient prejudice to justify, in
        addition to the consequences contemplated in Article 23, recourse to the
        remedies of injunction and seizure before judgment.

23.3    Each of the Shareholders recognizes that the restrictions contemplated
        in Section 23.1 are reasonable and valid, particularly with regard to
        their duration, their extent and the Persons contemplated thereby, and
        that these restrictions are essential in order to enable the Corporation
        and its Subsidiaries to protect their position adequately in the field
        where they carry on business, operate or pursue their activities and
        therefore exempts the Shareholders, the Corporation and its Subsidiaries
        from establishing the validity of these restrictions before any
        arbitration board or other court.

23.4    The Parties acknowledge that if the extent of any restriction contained
        in this Article 23, is judged to be unreasonable, which is not the
        opinion of the Parties on the date hereof, such a restriction shall then
        be applicable up to the maximum permitted by the Applicable Law and the
        Parties hereby agree and accept that the extent of this restriction may
        be modified accordingly by any arbitration board or other court within
        the context of any procedure to enforce and give effect to such
        restriction.

                             Article 24 ARBITRATION

24.1    In the event of any dispute between the parties (including the
        intervening parties) relating to this Amended and Restated Agreement,
        whether such dispute is relating to the interpretation or application of
        its provisions or to the existence of any of their respective rights and
        obligations hereunder or to the nature or the amount of the obligations
        and responsibilities resulting from this Amended and Restated Agreement,
        such dispute shall be submitted to arbitration, to the exclusion of any
        court of law having otherwise competent jurisdiction, in accordance with
        the provisions of the Code of Civil Procedure of the Province of Quebec,
        modified as follows, it being understood that this Article 24 shall
        constitute an arbitration agreement within the meaning of the Civil Code
        of the Province of Quebec:

        24.1.1  the dispute shall be submitted to the arbitration of three
                arbitrators, the party requiring the arbitration designating the
                first arbitrator and the other party or the other parties to the
                dispute having a conflicting interest with the requiring party
                designating the second arbitrator and the third arbitrator being
                designated jointly by the two first arbitrators so designated.
                All arbitrators must be lawyers qualified to practise law within
                the Province of Quebec;

        24.1.2  a party requiring arbitration shall give notice thereof to the
                other party or the other parties to the dispute having a
                conflicting interest and shall provide in such notice the name
                and address of the arbitrator for the purposes of this Amended
                and Restated Agreement as well as the details of the dispute;

        24.1.3  within ten (10) Business Days after a notice of arbitration has
                been sent pursuant to Subsection 24.1.2 above, all of the other
                parties to the dispute having a conflicting interest with the
                party submitting the issue to arbitration shall agree on the
                name of the second arbitrator and shall give notice of the name
                and

<PAGE>
                                                                              48

                address of such second arbitrator to the requesting party and
                the first arbitrator within such ten (10) Business Days period,
                failing which all of such other parties shall be deemed to have
                waived their rights to designate an arbitrator, and the
                arbitration shall be held by one arbitrator only, namely the
                arbitrator designated pursuant to 24.1.2 above;

        24.1.4 subject to the provisions of the preceding paragraph relating to
                the resolution of the dispute by one arbitrator, the third
                arbitrator shall be designated by the other two arbitrators
                within five (5) Business Days following receipt by the requiring
                party and the first arbitrator of the notice described in 24.1.3
                above in respect of the designation of a second arbitrator;

        24.1.5  the hearing of the arbitration shall be held on the territory of
                the Metropolitan Region of Montreal, at such place and at such
                time as shall be determined jointly by the arbitrators and
                within a delay of ten (10) Business Days of the nomination of
                the third arbitrator or sole arbitrator, as the case may be;

        24.1.6  the arbitrators are authorized to determine their own procedure
                and shall render their decision in writing in such form as they
                shall decide; the arbitrators shall allocate the expenses
                relating to the arbitration in the manner which they shall see
                fit which for such purposes shall take into account, inter alia,
                the relative success of the arguments of each of the parties to
                the arbitration;

        24.1.7  the arbitrators shall, to the extent possible, render their
                decision and give notice thereof to the parties within a period
                of ten (10) Business Days following the hearing of the parties
                involved in the arbitration or, as the case may be, such period
                of time (which shall not be more than five (5) Business Days)
                which they shall grant to the parties involved to the
                arbitration to submit in writing their arguments following the
                hearing;

        24.1.8  the decision of the arbitrators shall be final and binding on
                the parties to the arbitration and the provisions of Sections
                946 to 946.6 inclusively of the Code of Civil Procedure of the
                Province of Quebec relating to the homologation of arbitration
                decisions shall apply;

        24.1.9  the arbitrators shall resolve the dispute in accordance with the
                rules of law and shall not act as "aimables compositeurs";

        24.1.10 the English and French languages shall be the languages of
                arbitration, as requested by the parties to arbitration; and

        24.1.11 nothing in this Article 24 shall be interpreted or construed so
                as to affect or limit the rights of any parties hereto of
                seeking any injunction, constraining order, or other mandatory
                relief available to them under the law from any court having
                jurisdiction with respect to any breach or violation or
                anticipated breach or violation of any of the covenants provided
                in this Amended and Restated Agreement.

                               Article 25 GENERAL

25.1    A copy of this Amended and Restated Agreement shall be filed with the
        Corporate Records of the Corporation at the office of the Corporation.

25.2    Time shall be of the essence of this Amended and Restated Agreement.

<PAGE>
                                                                              49

25.3    Any notices, demand or other communication required or permitted to be
        given to any party or intervening party hereunder shall be in writing
        and shall be either:

        25.3.1  personally delivered;

        25.3.2  sent by same-day or next-day courier; or

        25.3.3  sent by facsimile

        Any notice so given shall be sent to the parties or intervening parties
        at their respective addresses set out below:

        25.3.4  If to Cinepix:

                ANIMATION CINEPIX INC. 3600 Thimens Boulevard
                St-Laurent, Quebec Canada H4H 1V6
                Fax: (514) 336-6606 Attention: The President

        25.3.5  if to Pettigrew:

                JACQUES PETTIGREW 1835 du Sommet Trinite Street
                St-Bruno, Quebec Canada J3V 6E4

        25.3.6  if to Faire Trust:

                FAIRE TRUST 45 Charles Street Suite 702
                Toronto, Ontario Canada M4Y 1S2
                Fax: (416) 920-5140
                with a copy to:
                FOLEY, BRODERICK, C.A. 130 Adelaide Street West 32nd Floor
                Toronto, Ontario Canada M5H 3P5
                Fax: (416) 863-1510 Attention: Mr. Brent Insley

        25.3.7  If to Fox Family:

                FOX FAMILY WORLDWIDE, INC. 10960 Wilshire Boulevard
                Los Angeles, California United States of America 90024
                Fax: (310) 235-5552 Attention: The President

        25.3.8  if to Fiducie Pettigrew:

                FIDUCIE FAMILLE PETTIGREW 1835 du Sommet Trinite Street
                St-Bruno, Quebec Canada J3V 6E4
                Attention: Mr. Jacques Pettigrew and Mrs. Jacqueline Pettigrew,
                Trustees

        25.3.9  If to SGF Tech:

                SGF TECH INC. c/o Societe generale de financement du Quebec
                600 de La Gauchetiere West Suite 1500
                Montreal, Quebec H3B 4L8
                Attention: The President Fax: (514) 876-1656

        25.3.10 if to the Corporation:

                CORPORATION CINEGROUPE 1151 Alexandre-de-Seve
                Montreal, Quebec Canada H2L 2T7
                Fax: (514) 524-1997 Attention: The President

        25.3.11 if to Lions Gate:

                LIONS GATE ENTERTAINMENT CORP. Suite 3123, Three Bentall Centre
                595 Burrard Street
                Vancouver, British Columbia Canada V7X 1J1
                Fax: (604) 609-6145 Attention: The Senior Vice President

        Either party and intervening party may from time to time change its
        address by written notice to the other party and intervening party given
        in accordance with the provisions

<PAGE>
                                                                              50

        hereof. Any notice or communication shall be deemed to have been
        received on the next Business Day after which it was delivered, if
        personally delivered or sent by courier, or on the next Business Day
        after it was sent by facsimile, if it was so sent.

25.4    The provisions of this Amended and Restated Agreement shall apply to any
        Shares issued pursuant to an option granted by the Corporation, to
        Shares issued pursuant to a convertible debenture, to any Shares
        resulting from the reclassification, subdivision, consolidation or
        corporate reorganization and to any Shares of the Corporation received
        by the holders as a stock dividend and to any Shares or other securities
        of the Corporation which may be received by the holder of such Shares on
        amalgamation, reorganization or reconstruction of the Corporation or to
        any other Shares which may hereafter be issued to the Shareholders.

25.5    Subject to the Articles and By-Laws of the Corporation, this Amended and
        Restated Agreement constitutes the entire agreement between the Parties
        hereto with respect to the subject matters herein contained and
        supersedes and replaces any provisions of any other document heretofore
        entered into by them with respect to the subject matters herein,
        including the Former Agreement, the First Amendment, the Second
        Amendment and the Letter of Intent.

25.6    Unless otherwise stipulated, all amounts expressed in this Amended and
        Restated Agreement are in the Canadian currency. If any of the
        provisions of this Amended and Restated Agreement are ever held illegal
        or invalid for any reason, such illegality or invalidity shall not
        affect the remaining parts of the Amended and Restated Agreement, and
        the Amended and Restated Agreement shall be construed and enforced as if
        such illegal and invalid provisions had never been inserted therein. If,
        in any judicial proceeding, any provision, clause or covenant of this
        Amended and Restated Agreement is found to be so broad as to be
        unenforceable, it is hereby agreed that such provision, clause or
        covenant shall be interpreted to be only so broad as it may be to be
        enforceable.

25.7    This Amended and Restated Agreement may be executed in counterparts,
        each of which, when so executed and delivered to all other parties and
        intervening parties, shall be deemed to be an original and when taken
        together shall be deemed to be one and the same agreement.

25.8    The Shareholders, the Corporation and the other intervening parties
        agree to do all things and execute any and all documents, upon the
        request of any of the other, to better effect complete consummation of
        the transactions contemplated by this Amended and Restated Agreement as
        well as the true intent and purposes of this Amended and Restated
        Agreement including to vote Shares which any one of them may hold or
        have Control over and to use its best efforts so as to cause to be done,
        executed, acknowledged or delivered by any other person, all such
        further acts or other things, deeds, documents, assignments, transfers,
        conveyances, powers of attorney and assurances as may be reasonably
        necessary or desirable.

25.9    Section 15.1 of this Amended and Restated Agreement is an unanimous
        shareholders' agreement within the meaning of Sections 123.91 and
        following of the Companies Act (Quebec) and must be interpreted as such.
        No by-law or resolution of the Board and of the Shareholders of the
        Corporation or Articles (with respect to transfer of shares only)

<PAGE>
                                                                              51

        may contradict or modify the provisions of this Amended and Restated
        Agreement and, should this occur, this Amended and Restated Agreement
        shall prevail. This Amended and Restated Agreement is governed by the
        laws of the Province of Quebec, Canada.

25.10   The preamble forms an integral part of this Amended and Restated
        Agreement.

25.11   This Amended and Restated Agreement has been drawn up and executed in
        the English language at the request of the Parties. La presente
        convention a ete redigee et executee dans la langue anglaise a la
        demande des parties. This Agreement shall be prepared and executed in
        French version if requested by SGF Tech. The parties hereto expressly
        agree that in the event of any misunderstanding, dispute or controversy,
        among them with respect to any of the provisions of this Agreement, the
        executed French version, if it exists, shall prevail.

25.12   The trustee of Faire Trust incurs no personal liability under this
        Amended and Restated Agreement and his liability is limited to the
        assets of Faire Trust. The trustees of Fiducie Pettigrew incur no
        personal liability under this Amended and Restated Agreement and their
        liability is limited to the assets of Fiducie Pettigrew.

25.13   This Agreement shall enure to the benefit of and be binding upon the
        parties and intervening parties, their respective heirs, executors,
        administrators, successors and permitted assigns as the case may be.

IN WITNESS WHEREOF THE PARTIES HERETO HAVE DULY EXECUTED THIS AGREEMENT

                                        ANIMATION CINEPIX INC.

                                        Per: ___________________________________
                                             Andre Link

                                        JACQUES PETTIGREW
                                        FAIRE TRUST

                                        Per: ___________________________________
                                             Robert Paul, in his capacity as
                                             trustee, without personal liability

                                        FOX FAMILY WORLDWIDE, INC.

                                        Per: ___________________________________
                                             Mel Woods

                                        FIDUCIE FAMILLE PETTIGREW

                                        Per: ___________________________________
                                             Jacques Pettigrew, in his capacity
                                             as Trustee, without personal
                                             liability

                                        Per: ___________________________________
                                             Jacqueline Pettigrew, in her
                                             capacity as Trustee, without
                                             personal liability

                                        SGF TECH INC.

                                        Per: ___________________________________
                                             Jean-Pierre Frechette

                                        Per: ___________________________________
                                             Andre Roy

<PAGE>
                                                                              52

AND INTERVENING HERETO                  CORPORATION CINEGROUPE

                                        Per: ___________________________________
                                             Andre Link

                                        Per: ___________________________________
                                             Jacques Pettigrew

                                        LIONS GATE ENTERTAINMENT CORP.

                                        Per: ___________________________________
                                             Gordon Keep

<PAGE>
                                                                               1

                                 SCHEDULE 1.2.20
                              CONVERTIBLE DEBENTURE

<PAGE>
                                                                               1

                                SCHEDULE 1.2.26
                       EMPLOYMENT AGREEMENT OF PETTIGREW

<PAGE>
                                                                               1

                                 SCHEDULE 1.2.34
                              LIONS GATE DEBENTURE

<PAGE>
                                                                               1

                                 SCHEDULE 1.2.37
                              OPTION TO FAIRE TRUST

<PAGE>
                                                                               1

                                 SCHEDULE 1.2.38
                               OPTION TO PETTIGREW

<PAGE>
                                                                               1

                                  SCHEDULE 3.1
              PUT AGREEMENT BETWEEN LIONS GATE ENTERTAINMENT CORP.
                           AND FOX FAMILY, AS AMENDED,
        AND PUT ASSIGNMENT AGREEMENT BETWEEN A FAIRE D'AUJOURD'HUI INC.,
                     FOX FAMILY AND LIONS GATE, AS AMENDED

<PAGE>
                                                                               2

                                  SCHEDULE 15.1
                               LIST OF COMPETITORS<PAGE>
                                                                   EXHIBIT 10.15

          AMENDMENT #2 TO IGNITE LLC/LIONS GATE FILMS, INC. AGREEMENT
                              OF FEBRUARY 15, 2001

     Amendment made as of this 13th day of May, 2002 between Ignite LLC and
Lions Gate Films, Inc.

     Reference is hereby made to the February 15, 2001 Agreement between Ignite
LLC and Lions Gate Films, Inc. (the "Agreement").

     Section 2.c. shall hereby be deemed deleted from the Agreement and the
following shall hereby be inserted into the Agreement in its place.

2.c. FEES TO IGNITE LLC. Any Project optioned, acquired or developed by the Fund
and subsequently produced by the Company shall result in:

      (i)   FLAT FEE: A flat fee ("Producing Fee") equal to $150,000 being paid
            to Ignite LLC, on a 20/60/10/10 basis, increasing at a rate of 15%
            per Project produced hereunder on an annual basis (February to
            February (the "Annual Period") with increase based on the basic
            $150,000 such that it goes to $172,500 and then $195,000) with the
            fee reverting back to $150,000 at the beginning of each succeeding
            year; and

      (ii)  CASH-BREAKEVEN CONTINGENT COMPENSATION: Contingent compensation to
            Ignite LLC as follows: (a) 2% of Gross Receipts at Cash-Breakeven up
            to the amount which is two times the Producing Fee payable to Ignite
            in connection with the subject Project; (b) thereafter, 2% of Gross
            Receipts at Cash-Breakeven (inclusive of Breakeven Fees of 10%) up
            to an additional amount which is equal to two times the Producing
            Fee payable to Ignite in connection with the subject Project. In no
            event shall the contingent compensation payable pursuant to this
            subsection exceed a cap equal to four times the Producing Fee
            payable to Ignite in connection with the subject Project. For
            purposes of this Agreement, "Cash-Breakeven" shall be defined as
            that point in time, if ever, when a sum equal to one hundred percent
            (100%) of the Total Gross Receipts, less the "Breakeven Expenses"
            and the "Breakeven Fees" (if any), both on an accrual and rolling
            basis, equals zero. For purposes of this Agreement, "Breakeven
            Expenses" shall mean all actual, direct, third party expenses
            including, without limitation the negative cost of the Picture, all
            P&A expenses related to the domestic release of the Picture, all
            foreign distribution expenses, a reasonable reserve for residuals
            and supplemental payments, home video marketing and duplication
            costs, plus actual interest (on all of the foregoing except
            reserves), creative participations actually paid and deferments
            actually paid prior to Cash Breakeven. For purposes of this
            Agreement, "Breakeven Fees" (if applicable) shall mean the specified
            percentage of the Total Gross Receipts; and

      (iii) AGR CONTINGENT COMPENSATION: Contingent compensation to Ignite LLC
            equal to 15% of Lions Gate's Adjusted Gross Receipts (all gross
            revenues received by or credited to Lions Gate, its parent,
            affiliates and subsidiary companies arising from the

<PAGE>

            exploitation of the Project in any and all media (now known or
            hereafter devised) after deduction by Lions Gate on a continuous
            basis of (i) distribution fees calculated as follows: 20% of U.S.
            Gross receipts and 20% of foreign receipts (provided that if Lions
            Gate engages a third party distributor with respect to any foreign
            territory, in no event shall the aggregate distribution fees exceed
            35%); (ii) all actual third-party out-of-pocket distribution
            expenses (including a reasonable reserve for guild residuals) plus
            actual interest thereon; (iii) recoupment of Lions Gate contribution
            to the negative cost of the Project (i.e., all costs related to the
            development and production of the Project, specifically excluding
            overhead charges or allocations) plus actual interest thereon; (iv)
            all other mutually approved deferments paid to third-parties; and
            (v) any Flat Fee and Cash-Breakeven Contingent Compensation amounts
            paid or payable to Ignite LLC pursuant to subsections 2.c.(i) and
            2.c.(ii) hereinabove.)

     Ignite LLC shall receive fees and contingent compensation on any subsequent
production based on any Project as set forth herein. Notwithstanding the
foregoing, on any Project with a budget less than $3.0 million, the parties
hereto agree to negotiate Ignite LLC's fee in good faith. The Producer Fees are
for the exclusive benefit of Ignite LLC's shareholders.

ACCEPTED AND AGREED:

LIONS GATE FILMS, INC.

By:   _________________________________

Its:  _________________________________

IGNITE LLC

By:   _________________________________

Its:  _________________________________

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