Document:

EXHIBIT
10.8

AMENDED AND RESTATED EMPLOYMENT
AGREEMENT

This Amended and Restated
Employment Agreement (the “Agreement”), is entered into as of June 11, 2007,
effective as of the date of the Initial Public Offering, by and among AMC ENTERTAINMENT HOLDINGS, INC. (“Holdings”), MARQUEE HOLDINGS INC., a Delaware
corporation (“Marquee”), AMC ENTERTAINMENT
INC., a Delaware corporation (“AMCE” and, collectively with Holdings
and Marquee, the “Company”), and PETER C.
BROWN (“Employee”). In consideration of the mutual promises and
covenants contained herein, the parties hereto agree as follows:

Capitalized terms not
otherwise defined herein shall have the meanings assigned to such terms in
Section 18.

1.             Position and Duties.  During the Term (as defined in Section 2) of
his employment by the Company under this Agreement, Employee shall devote his
full time and attention to the business of the Company as Chairman of the
Board, Chief Executive Officer and President of each of Holdings, Marquee and
AMCE, as directed by the Board of Directors of Holdings, Marquee or AMCE, as
applicable. Notwithstanding the foregoing, Employee shall be permitted, to the
extent such activities do not substantially interfere with the performance by
Employee of his duties and responsibilities under this Agreement, (i) to manage
Employee’s personal financial and legal affairs, (ii) to serve on corporate,
civic or charitable boards or committees, and (iii) to serve in executive
positions in affiliates or entities in which the Company has an interest.

2.             Term.  The term of this Agreement began on the
Effective Date and shall terminate on the third anniversary of the Effective
Date or sooner as provided in Section 6 below (such period, as it may be
extended, the “Term”). On each anniversary of the Effective Date during the
Term, one year shall be added to the Term of Employee’s employment with the
Company under this Agreement, so that as of each such anniversary the Term of
Employee’s employment hereunder shall be three (3) years.

3.             Compensation.

(a)           Base Salary.  During the Term of his employment by the
Company under this Agreement, Employee shall receive an initial annual salary
of $728,300 as of the Effective Date and, due to such increases as have
occurred from the Effective Date to the date hereof, an annual salary of
$791,970 as of the date hereof (“Base Salary”) (less withholding for applicable
taxes), payable in accordance with the Company’s payroll procedures for its
salaried employees, subject to such increases as may be approved by the Compensation
Committee of Holdings’ Board of Directors (the “Compensation Committee”).

(b)           Bonus. 
In addition to Base Salary, Employee shall be eligible to receive an
annual bonus (the “Bonus”) as determined from time to time by the Compensation
Committee based on the Company’s applicable incentive compensation program, as
such may exist from time to time.

(c)           Benefits. 
During the Term of Employee’s employment by the Company under this
Agreement, Employee also shall be eligible for the benefits offered by the Company
from 

time to time to the
Company’s other executive officers (such as group insurance, pension plans,
thrift plans, stock purchase plans and the like). Following termination of
employment, Employee’s rights to coverage and benefits under such plans and
programs shall be governed by the terms of such plans as in effect from time to
time, except to the extent expressly provided otherwise herein. Nothing herein
shall be construed so as to prevent the Company from modifying or terminating
any employee benefit plans or programs it may adopt from time to time.

(d)           Restricted
Stock/Stock Unit Grant.  No
later than fifteen (15) days after the Initial Public Offering, Employee shall
receive a grant of restricted stock or restricted stock units under an equity
incentive plan of Holdings (anticipated to be called the “2007 Equity Incentive
Plan”) to be established prior to the Initial Public Offering, which restricted
stock or restricted stock units will have an aggregate value of $2,567,000 on
the date of grant based on the Initial Public Offering value.  The shares covering such restricted stock or
restricted stock units, along with the shares covered by the Employee Options
granted to Employee as of December 23, 2004, shall be registered on a Form S-8
to be filed in connection with the Initial Public Offering.  The restricted stock or restricted stock
units will vest and be earned in three equal annual installments on the first,
second and third anniversaries of the grant date.  The terms and conditions of such grant will
be evidenced in an award agreement to be entered into between Employee and
Holdings, which award agreement shall specifically acknowledge that in the
event that it conflicts with this Agreement, this Agreement shall control.

4.             Expense Reimbursements.  During the Term of Employee’s employment by
the Company under this Agreement, the Company shall reimburse Employee for
business travel and entertainment expenses reasonably incurred by Employee on
behalf of the Company in accordance with the Company’s procedures, as such may
exist from time to time.

5.             Termination.  Employee’s employment by the Company under
this Agreement shall be terminated upon the earliest to occur of the following
events and any termination of Employee’s employment as provided herein shall
constitute a termination of his employment with each of Holdings, Marquee and
AMCE:

(a)           Resignation.  Employee’s resignation or other voluntary
departure.

(b)           Death. 
The death of Employee.

(c)           Disability.  If, as a result of Employee’s incapacity due
to physical or mental illness, (i) Employee shall not have been regularly
performing his duties and obligations hereunder for a period of one hundred
twenty (120) consecutive days (a “Disability”), (ii) the Company has given
Employee the written Notice of Termination pursuant to Section 6(a) hereof, and
(iii) within thirty (30) days after the Company gives Employee such written
Notice of Termination (which may occur before or after the end of such 120 day
period), Employee shall not have returned to the performance of his duties and
obligations hereunder on a regular basis.

(d)           Cause. 
Employee is terminated by Holdings’ Board of Directors for Cause. For
purposes of this Agreement, “Cause” is defined as (i) the willful and continued
failure by Employee to perform substantially his duties with the Company (other
than any such failure 

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resulting from his
incapacity due to physical or mental illness), or (ii) the willful engaging by
Employee in misconduct which is materially and demonstrably injurious to the
Company. For purposes of this Agreement, no act, or failure to act, on the part
of Employee shall be considered “willful” unless such act was committed, or
such failure to act occurred, in bad faith and without reasonable belief that
Employee’s act or failure to act was in the best interests of the Company.

(e)           Without Cause.  The employment of Employee by the Company
under this Agreement may be terminated without Cause with severance at any time
by Holdings’ Board of Directors in its sole discretion.

(f)            Good Reason.  Employee terminates his employment by the
Company hereunder for Good Reason. For purposes of this Agreement, “Good Reason”
shall mean (i) a failure by the Company to comply with any material provisions
of this Agreement which has not been cured within thirty (30) days after
written notice of such noncompliance has been given to Holdings by Employee,
(ii) any purported termination of Employee which is not effected pursuant to a
Notice of Termination, as defined in Sections 6 and 12 below (and for purposes
of this Agreement no such purported termination shall be effective), (iii) the
assignment to Employee of any duties inconsistent in any material respect with
Section 1 of this Agreement, or any other actions by the Company that result in
a material diminution of Employee’s position, authority, duties or
responsibilities, other than an action that is not taken in bad faith and is
remedied by the Company promptly after receipt of notice thereof from Employee,
(iv) any material reduction in Employee’s Base Salary or benefits or
eligibility under Bonus or benefit plans which is not agreed to by Employee, or
(v) any requirement that Employee be based at any office outside of a 35 mile
radius of the current headquarters office of AMCE; provided, however,
that none of (w) the Merger of Marquee Inc. with and into AMCE as of the
Effective Date, (x) the merger of Marquee Merger Sub Inc., a Delaware
corporation and a wholly-owned subsidiary of Holdings (“Merger Sub”) with and
into Marquee, with Marquee remaining as the surviving corporation, pursuant to
that certain Agreement and Plan of Merger, dated as of June 11, 2007 (the “AMCEH
Merger”), (y)  the 2007 IPO, or (z) the
termination of Marquee’s corporate existence, shall constitute or be deemed to
constitute grounds for Employee’s resignation for Good Reason under this
Agreement.  Employee must notify Holdings
in writing within thirty (30) days of becoming aware of the occurrence of any
of (i) through (v) above in order to receive the payments described in Section
7(c) below.

(g)           Change of Control.  Employee terminates his employment by the
Company hereunder in the event of a Change of Control. Employee must not be the
person or part of a group (as such terms are used in Sections 13(d) and 14(d)
of the Exchange Act) which effected the Change of Control, and must notify the
Company in writing of such termination within sixty (60) days after the
occurrence of a Change of Control, in order to receive the payments described
in Section 7(c) below.

(h)           Retirement.  The voluntary retirement by Employee at or
after age 65.

6.             Termination
Procedure.

(a)           Notice of Termination.  Any termination of the Company’s employment
of Employee, either by the Company or by Employee (other than termination
pursuant to Section 5(b)

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hereof), shall be
communicated by written Notice of Termination to the other party hereto in
accordance with Section 12. For purposes of this Agreement, a “Notice of
Termination” shall mean a notice which shall indicate the specific termination
provision in this Agreement relied upon and shall, where applicable, set forth
in reasonable detail the facts and circumstances claimed to provide a basis for
termination of Employee under the provisions so indicated.

(b)           Date of Termination.  “Date of Termination” shall mean (i) if
Employee’s employment by the Company is terminated pursuant to Section 5(a) or
5(h) hereof, thirty (30) days after Notice of Termination is given, (ii) if
Employee’s employment by the Company is terminated pursuant to Section 5(b) hereof,
the date of death, (iii) if Employee’s employment by the Company is terminated
pursuant to Section 5(c) hereof, thirty (30) days after Notice of Termination
is given (provided that Employee shall not have again become available
for service to the Company on a regular basis during such thirty (30) day
period), (iv) if Employee’s employment by the Company is terminated pursuant to
Section 5(d), the date specified in the Notice of Termination, and (v) if
Employee’s employment by the Company is terminated for any other reason, the
date on which a Notice of Termination is given; provided, however,
that (i) if Employee’s Date of Termination arising from a termination of
employment pursuant to Section 5(e), (f) or (g) would otherwise occur during a
period that he would be required by the underwriters in an Offering not to buy
or sell any shares obtained on exercise of Employee Options (unless Employee
would be permitted to participate in such Offering on the same economic terms
as investors purchasing shares therein), such Date of Termination shall instead
occur on the first date that such requirement ceases to apply, and (ii) the
Company hereby covenants not to commence an Offering within 90 days after
Employee’s termination of employment pursuant to Section 5(e), (f), (g) or (h),
to the extent Employee would be required by the underwriters in such Offering
not to buy or sell any shares obtained on exercise of Employee Options (unless
Employee would be permitted to participate in such Offering on the same economic
terms as investors purchasing shares therein).

7.             Compensation During
Disability or Upon Termination of Employment.

(a)           During Disability.  During any period that Employee fails to
perform his duties under this Agreement as a result of incapacity due to
physical or mental illness (a “disability period”), Employee shall continue to
receive his Base Salary at the rate then in effect for such period until his
employment by the Company is terminated pursuant to Section 5(c) hereof,
provided that payments so made to Employee during the first 180 days of any
such disability period shall be reduced by the sum of the amounts, if any, paid
to Employee at or prior to the time of any such payment under disability
benefit plans of the Company or under the Social Security disability insurance
program, and which amounts were not previously applied to reduce any such
payment. Employee shall also receive a pro rata portion of the Bonus described
in Section 3(b) pursuant to the Company’s applicable incentive compensation
program (the amount of such pro rated Bonus to be determined as though the
target level for such Bonus was attained (or if no target level, to be
determined as though the target level of 70% of the Base Salary at the rate
then in effect was attained), multiplied by a fraction, the numerator of which
is the number of completed months in the then current Bonus program year and
the denominator of which is 12), as such may exist from time to time.

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(b)           Termination for Employee Resignation, Cause or
Retirement. If Employee’s employment by the Company is terminated
pursuant to Section 5(a) or (d), the Company shall pay Employee his accrued but
unpaid Base Salary through the Date of Termination at the rate in effect at the
time Notice of Termination is given (the “Accrued Payments”), and the Company
shall have no further obligations to Employee under this Agreement. If Employee’s
employment by the Company is terminated pursuant to Section 5(h), (i) the
Company shall pay Employee the Accrued Payments, (ii) the Company shall pay
Employee a pro rata portion of the Bonus described in Section 3(b) pursuant to
the Company’s applicable incentive compensation program (the amount of such pro
rated Bonus to be determined as though the target level for such Bonus was
attained (or if no target level, to be determined as though the target level of
70% of the Base Salary at the rate then in effect was attained), multiplied by
a fraction, the numerator of which is the number of completed months in the
then current Bonus program year and the denominator of which is 12), as such
may exist from time to time, and (iii) Employee’s outstanding Employee Options
and the restricted stock or restricted stock units granted pursuant to Section
3(d) above shall be 100% vested.

(c)           Termination for Death, Disability, Without Cause or
by Employee for Good Reason or Change of Control.  If Employee’s employment by the Company is
terminated pursuant to Section 5(b), (c), (e), (f) or (g), the Company shall
pay to Employee or Kathleen T. Brown if then living, and if not living, then to
the Trustee of the Peter C. Brown Trust U/T/A July 6, 2006 (the “Trust”),
the Accrued Payments and the compensation payments described in Section
7(c)(i), Employee’s outstanding Employee Options and restricted stock or restricted
stock units granted pursuant to Section 3(d) above shall be 100% vested; provided,
however, that (x) Employee also must have timely notified the Company as
provided in Sections 5(f) and (g), as applicable, in order to receive (i) such
payments and (ii) such Employee Option and restricted stock or restricted stock
unit vesting, and (y) no Employee Option shall be exercisable beyond its
original option term.  All amounts
payable under this Section 7(c) shall be reduced by withholding for applicable
taxes, if any.

(i)            A lump-sum cash
payment equal to the sum of (A) Employee’s Base Salary at the rate in effect on
the Date of Termination for the remainder of the Term, plus (B) the Bonus
described in Section 3(b) pursuant to the Company’s applicable incentive
compensation program (the amount of such Bonus to be determined as if the
target level for such Bonus was attained (or if no target level, to be
determined as though the target level of 70% of the Base Salary at the rate
then in effect was attained), multiplied by the number of years remaining in
the Term (for purposes of (A) and (B) any partial year during the remainder of
the Term shall be treated as an entire year). 
All payments pursuant to this Section 7(c)(i) shall be subject to
Employee’s execution and non-revocation of a mutual release in the form
attached as Exhibit A hereto (with such changes, if any, as are
necessary or advisable to comply with changes in applicable law, stock exchange
or accounting rules) and shall be paid eight days after such release is
submitted to the Company by Employee, which release shall be submitted no
earlier than the Date of Termination, by wire transfer of immediately available
funds in the appropriate amount to an account designated by Employee or his
estate, as the case may be.

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8.             Indemnification.

(a)           Holdings shall
indemnify Employee to the fullest extent permitted by Delaware law against all
costs, expenses, liabilities and losses (including, without limitation,
attorneys’ fees, judgments, fines, penalties, ERISA liabilities, excise taxes
and amounts paid in settlement) reasonably incurred by Employee in connection
with a Proceeding. For the purposes of this Section, a “Proceeding” shall mean
any action, suit or proceeding, whether civil, criminal, administrative or
investigative, in which Employee is made, or is threatened to be made, a party,
or a witness by reason of the fact that he is or was an officer, director or
employee of Holdings or is or was serving as an officer, director, member,
employee, trustee or agent of any other entity at the request of Holdings.

(b)           Holdings shall advance
to Employee all reasonable and necessary costs and expenses incurred in
connection with a Proceeding within 20 days after receipt by Holdings of a
written request for such advance. Such request shall include an itemized list
of the costs and expenses and an undertaking by Employee to repay to Holdings
the amount of such advance if ultimately it shall be determined that he is not
entitled to be indemnified against such costs and expenses.

(c)           Employee shall not be
entitled to indemnification under this Section unless Employee meets the
standard of conduct specified under Delaware law. Notwithstanding the
foregoing, to the extent permitted by law, neither Section 145(d) of the General
Corporation Law of the State of Delaware nor any similar provision shall apply
to indemnification under this Section, so that if Employee in fact meets the
applicable standard of conduct (as ultimately determined by a court of
competent jurisdiction or as ultimately determined by the arbitrator in
arbitration pursuant to Section 16), he shall be entitled to indemnification
hereunder whether or not Holdings (whether by the Board of Directors of
Holdings, the shareholders, independent legal counsel or other party)
determines that such indemnification is proper or that he has met such
applicable standard of conduct. Neither the failure of Holdings to have made
such a determination prior to the commencement by Employee of any suit or
arbitration proceeding seeking indemnification, nor a determination by Holdings
that Employee has not met such applicable standard of conduct, shall create a
presumption that Employee has not met the applicable standard of conduct.

(d)           Holdings shall be
permitted to settle any Proceeding or claim in any manner other than as would
impose liability on Employee for which he would not be entitled to
indemnification or insurance coverage hereunder. Employee shall not settle any
proceeding without Holdings’ prior written consent, which consent will not be
unreasonably withheld.

(e)           Holdings shall maintain
an insurance policy or policies providing directors’ and officers’ liability
insurance. Employee shall be covered by such policy or policies, in accordance
with its or their terms, to the maximum extent of coverage available for any
director or officer of Holdings.

(f)            Employee shall give
Holdings prompt notice of any proceeding which may give rise to a claim for
indemnification. Holdings shall have the right, at its expense, to assume the
defense of any such proceeding.

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9.             Restrictive Covenants.

(a)           Confidentiality.

(i)            Employee acknowledges
that he knows and in the future will know information relating to the Company
and its affiliated companies and their respective operations that is
confidential or a trade secret. Such information includes information, whether
obtained in writing, in conversation or otherwise, concerning corporate
strategy, intent and plans, business operations, pricing, costs, budgets,
equipment, the status, scope and term of pending acquisitions, negotiations and
transactions, the terms of existing or proposed business arrangements,
contracts and obligations, and corporate and financial reports. Such
confidential or trade secret information shall not, however, include
information in the public domain unless Employee has, without authority, made
it public.

(ii)           Employee
shall (a) not disclose such information to anyone except in confidence and as
is necessary to the performance of his duties for the Company, (b) keep such
information confidential, (c) take appropriate precautions to maintain the
confidentiality of such information, and (d) not use such information for
personal benefit or the benefit of any competitor or any other person.

(iii)          Upon termination of his employment by the
Company under this Agreement, Employee shall return all materials in his
possession or under his control that were prepared by or relate to the Company
or its affiliates, including, but not limited to, materials containing
confidential information, files, memorandums, price lists, reports, budgets and
handbooks.

(iv)          Employee’s
obligations under this Section 9 shall survive the termination of Employee’s
employment by the Company under this Agreement.

(b)           Noncompetition
and Nonsolicitation.

(i)            From the Effective
Date until twelve (12) months after Employee’s employment termination date,
Employee shall not directly or indirectly (including through another person)
(a) induce or attempt to induce any employee of the Company or any of its subsidiaries
earning total annual remuneration in excess of $100,000 to leave the employ of
such entity to take up employment or engagement in a similar capacity with a
Competitive Business, or in any way interfere with the relationship between the
Company or any of its subsidiaries, on the one hand, and any employee thereof,
on the other hand, (b) on behalf of a Competitive Business hire any person who
was an employee of the Company or any Affiliate of the Company within the
preceding twelve (12) months, (c) solicit any customer, supplier, investor or
other business relation of the Company or any of its subsidiaries with whom
Employee has dealt during the twelve (12) months prior to Employee’s employment
termination or in respect of which Employee was, on termination of employment,
in possession of confidential information, to reduce or cease doing business
with the Company or any of its subsidiaries, (d) engage in any Competitive
Business for Employee’s own account, (e) enter the employ of, or render any
services to, any person engaged in any Competitive Business, or (f) acquire a
material financial interest in any Competitive Business.  Nothing herein shall, however, prohibit
Employee from being a passive owner of not more than 2% of the outstanding
stock of any class of a corporation that is publicly quoted or listed, so long
as Employee has no active participation in the business 

 7
 

of such company or
corporation.  As used herein, activity
undertaken “directly or indirectly” includes any direct or indirect ownership
or profit participation interest in such enterprise, whether as an owner or a
stockholder, member, partner, joint venturer of or otherwise, and includes any
direct or indirect participation in such enterprise as an employee, consultant,
director, officer, licensor or otherwise.

(ii)           “Competitive Business”
means any business that owns, operates or manages any movie theater within a
20-mile radius of any theater (i) being operated by the Company or any of its
subsidiaries at the Date of Termination or (ii) under consideration by the
Company or any of its subsidiaries for opening, pursuant to the Company’s most
current internal reports used to identify and monitor the Company’s new build
theatre deals, at the Date of Termination, including, without limitation, any
major theatrical exhibitors of motion pictures, including but not limited to
Regal Entertainment Group, Cinemark, Carmike Cinemas, National Amusements,
Muvico Theaters, Harkins Theaters or Pacific Theaters.

10.          Equitable Remedies.

The parties acknowledge
that irreparable damage will result to the Company from any violation of
Section 9 above by Employee. The parties expressly agree that, in addition to
any and all remedies available to the Company for any such violation, the
Company shall have the remedy of restraining order and injunction and any such
equitable relief as may be declared or issued to enforce the provisions of
Section 9 above and Employee agrees not to claim in any such equitable
proceeding that a remedy at law is available to the Company. Notwithstanding
anything contained herein to the contrary and if, and only if, any provision of
the type contained in Section 9 above, as the case may be, is enforceable in
the jurisdiction in question, if any one or more of the provisions contained in
such section shall for any reason be held to be excessively broad as to
duration, geographical scope, activity or subject, such provision shall be
construed by limiting and reducing it so as to be enforceable to the extent
compatible with the applicable law in such jurisdiction as it shall then
appear.

11.          Successors; Binding
Agreement.

(a)           Company Successors.  The Company will require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all the business of the Company, by agreement in form
and substance satisfactory to Employee, to expressly assume and agree to
perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place.

(b)           Employee’s Successors.  This Agreement and all rights hereunder shall
be binding upon, inure to the benefit of and be enforceable by Employee’s
personal or legal representatives and heirs.

12.          Notices.  All notices,
requests, demand or other communications under this Agreement shall be in
writing addressed as follows:

	
  If to AMCE:

  	
   

  	
  AMC Entertainment Inc. 

  
	
   

  	
   

  	
  920 Main Street 

  
	
   

  	
   

  	
  Kansas City, MO 64105 

  
	
  

  	
   

  	
  Attn:General Counsel

  

 

 8
 

 

	
  with a copy to:

  	
   

  	
  O’Melveny & Myers LLP 

  
	
   

  	
   

  	
  Times Square Tower 

  
	
   

  	
   

  	
  7 Times Square 

  
	
   

  	
   

  	
  New York, NY 10036 

  
	
   

  	
   

  	
  Attn:

  	
  Gregory Ezring 

  
	
   

  	
   

  	
   

  	
  Monica K. Thurmond

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  AMC Entertainment Inc. 

  
	
   

  	
   

  	
  920 Main Street 

  
	
   

  	
   

  	
  Kansas City, MO 64105 

  
	
   

  	
   

  	
  Attn:

  	
  Chairman of the Compensation 

  
	
   

  	
   

  	
  Committee

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  AMC Entertainment Inc. 

  
	
   

  	
   

  	
  920 Main Street 

  
	
   

  	
   

  	
  Kansas City, MO 64105 

  
	
   

  	
   

  	
  Attn:

  	
  Chairman of the Audit 

  
	
   

  	
   

  	
  Committee

  
	
   

  	
   

  	
   

  
	
  If to Employee:

  	
   

  	
  to him at the most recent residence 

  
	
   

  	
   

  	
  address as maintained in the 

  
	
   

  	
   

  	
  Company’s payroll records.

  

 

Any such notice, request, demand or other
communication shall be effective as of the date of actual delivery thereof.
Either party may change such notice address by written notice as provided
herein.

13.          Total Compensation.  The
compensation to be paid to Employee under this Agreement shall be in full
payment for all services rendered by Employee in any capacity to the Company or
any Affiliate of the Company. All compensation and benefits provided hereunder
shall be subject to applicable income tax and other corresponding withholding
requirements.

14.          Additional Potential Compensation.  Nothing in this Agreement shall prohibit the
Company from awarding additional compensation to Employee if it is determined
that such compensation is warranted based on Employee’s performance.

15.          Other Provisions.  This
Agreement shall be governed by the laws of the State of Missouri. This
Agreement represents the entire agreement of the parties hereto and shall not
be amended except by a written agreement signed by all the parties hereto. This
Agreement supersedes any prior oral or written agreements or understandings
between the Company or any affiliate of the Company and Employee.  Notwithstanding the foregoing, if an Initial
Public Offering has not occurred prior to December 31, 2007, this Agreement
shall be automatically restored to its appearance as of immediately following
its execution on December 23, 2004 and its amendment on January 26, 2006 (as so
amended, the “Prior Version”) and all terms of this Agreement that did not
appear in the Prior Version shall be null and void ab initio,
provided 

 9
 

however, that (i) Section
1 (“Position”), Section 3(a) (“Base Salary”) and Section 17 (“Section 409A”)
hereof shall remain in effect and clause (iv) of the definition of “Change of
Control” contained in Section 17 of the Prior Version shall be replaced by
clause (d) of the definition of “Change of Control” that appears in the June
11, 2007 Management Stockholders Agreement and the proviso at the end of the “Change
of Control” definition shall exclude from treatment as a Change of Control, in
addition to the events it lists in the Original Agreement, the AMCEH Merger,
(ii) all corresponding section numbering references shall be adjusted to give
effect to the continued existence of Section 17, (iii) “Holdings” as used in
such restored Prior Version shall refer to AMC Entertainment Holdings, Inc.
rather than to Marquee, (iv) the parties shall be the same as the parties to
this Agreement as they appear on the date hereof and Marquee Holdings Inc.
shall be defined as “Marquee,” (iv) the “Company” shall refer collectively to
Holdings, Marquee, and AMC Entertainment Inc, and (v) “Management Stockholders
Agreement” shall refer to the June 11, 2007 Management Stockholders
Agreement.  In the event of any conflict
between the terms of this Agreement and the terms of the Management
Stockholders Agreement, the Option Plan, the Incentive Stock Option Agreement
by and between Holdings and Employee dated on or about the Effective Date (the “ISO
Agreement”), the Non-Qualified Stock Option Agreement by and between Holdings
and Employee dated on or about the Effective Date (the “NQO Agreement”) any
agreement between the Company and Employee regarding Employee Options, or any
agreement evidencing the restricted stock or restricted stock units granted
pursuant to Section 3(d), the terms of this Agreement shall control.  Holdings and Employee hereby amend, effective
as of the date hereof, the ISO Agreement and NQO Agreement solely to replace,
in its entirety, the definition of “Change of Control” contained therein with
the definition of “Change of Control” set forth in Section 18 hereof as if
reprinted therein (it being understood that such amendments shall automatically
be rescinded on January 1, 2008 if an Initial Public Offering has not occurred
before such date).  This Agreement shall
not be assignable by one party without the prior written consent of the other
party, except by the Company if it complies with Section 11 above.  In the event one or more of the provisions
contained in this Agreement or any application thereof shall be invalid,
illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions of this Agreement or any other
application thereof shall not in any way be affected or impaired thereby.  Section headings herein have no legal
significance.

16.          Arbitration.  Any legal
dispute related to this Agreement and/or any claim related to this Agreement,
or breach thereof, shall, in lieu of being submitted to a court of law, be
submitted to arbitration, in accordance with the applicable dispute resolution
procedures of the American Arbitration Association. The award of the
arbitrators shall be final and binding upon the parties.

The parties hereto agree that (i) three arbitrators
shall be selected pursuant to the rules and procedures of the American
Arbitration Association, (ii) at least one arbitrator shall be a licensed
attorney, (iii) the arbitrators shall have the power to award injunctive relief
or to direct specific performance, (iv) each of the parties, unless otherwise
provided by applicable law and procedures, shall bear its own attorneys’ fees,
costs and expenses and an equal share of the arbitrators’ and administrative
fees of arbitration, and (v) the arbitrators shall award to the prevailing
party a sum equal to that party’s share of the arbitrators’ and administrative
fees of arbitration.

 10
 

Nothing in this Section shall be construed as
providing Employee a cause of action, remedy or procedure that Employee would
not otherwise have under this Agreement or the law. Employee understands that
in signing this Agreement he is waiving any right that he may have to a jury
trial or a court trial of any legal dispute or claim as set forth above.

17.          Section 409A.  This Agreement is intended to comply with
Section 409A of the Internal Revenue Code of 1986, as amended, and the
published guidance thereunder (“Section 409A”). To the extent any party hereto
reasonably determines that any provision of this Agreement would subject
Employee to the excise tax under Section 409A, the parties agree in good faith
to cooperate to reform this Agreement in a manner that would avoid the
imposition of such tax on Employee while preserving any affected benefit or
payment to the extent reasonably practicable without increasing the cost to the
Company.  To the extent required in order
to comply with Section 409A of the Code, amounts that would otherwise be
payable under Section 7 during the six-month period immediately following the
Date of Termination shall instead be paid on the first business day after the
date that is six months following the Executive’s “separation from service”
within the meaning of Section 409A of the Code. 
Nothing contained in this Agreement is intended to constitute a
guarantee of Employee’s personal tax treatment.

18.          Definitions.  For
purposes of this Agreement, the following definitions are applicable:

“2007 IPO” shall mean, for purposes of this Agreement,
one or more of the following events:  (i)
an Initial Public Offering that occurs on or before December 31, 2007, (ii) the
reclassification of Holdings’ capital stock in anticipation of such Initial
Public Offering, (iii) entry by holders of Holdings shares into one or more new
voting agreements in anticipation of such Initial Public Offering, and (iv) the
transactions related to the foregoing.

“Affiliate” shall mean, with respect to any specified
Person:

(i)            any other Person
directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person; or

(ii)           any other Person that
owns, directly or indirectly, 10% or more of such Person’s Capital Stock or any
officer or director of any such Person or other Person or with respect to any
natural Person, any person having a relationship with such Person by blood,
marriage or adoption not more remote than first cousin.

For the purposes of this definition, “control” when
used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have meanings correlative to the foregoing.

“Board” shall mean the Board of Directors of Holdings.

“Capital Stock” of any Person shall mean any and all
shares, interests, participations or other equivalents (however designated) of
such Person’s capital stock, including preferred stock, any rights (other than
debt securities convertible into capital stock), warrants or options to acquire
such capital stock.

 11
 

“Change of Control” means the occurrence, after an
Initial Public Offering, of any of the following events:

(i)            the acquisition by any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
of the Exchange Act) (a “CIC Person”) of beneficial ownership (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of
either (1) the then-outstanding shares of common stock of Holdings (the “Outstanding
Company Common Stock”) or (2) the combined voting power of the then-outstanding
voting securities of Holdings entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”) (except to the extent
that the beneficial ownership in excess of 50% existed at the time of such
acquisition); provided, however, that, for purposes of this
clause (i), the following acquisitions shall not constitute a Change of Control;
(A) any acquisition directly from Holdings, (B) any acquisition by Holdings,
(C) any acquisition by any employee benefit plan (or related trust) sponsored
or maintained by Holdings or any Affiliate of Holdings or a successor; and (D)
any acquisition by any entity pursuant to a transaction that complies with
clauses (iii)(1), (2) and (3) below;

(ii)            a change in the Board
or its members such that individuals who, as of the later of the 2007
IPO or the date that is two years prior to such change (the later of such two
dates is referred to as the “Measurement Date”), constitute the Board (the “Incumbent Board”) cease for any reason
to constitute at least a majority of the Board; provided, however,
that any individual becoming a director subsequent to the Measurement Date
whose election, or nomination for election by Holdings’ stockholders, was
approved by a vote of at least a majority of the directors then comprising the
Incumbent Board (including for these purposes, the new members whose election
or nomination was so approved, without counting the member and his predecessor
twice) shall be considered as though such individual were a member of the
Incumbent Board, but excluding, for this purpose, any such individual whose
initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other
actual or threatened solicitation of proxies or consents by or on behalf of a
CIC Person other than the Board;

(iii)          consummation of a reorganization,
merger, statutory share exchange or consolidation or similar corporate
transaction involving Holdings or any of its Subsidiaries, a sale or other
disposition of all or substantially all of the assets of Holdings, or the
acquisition of assets or stock of another entity by Holdings or any of its
Subsidiaries (each, a “Business  Combination”), in each case unless,
following such Business Combination, (1) all or substantially all of the
individuals and entities that were the beneficial owners of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities immediately
prior to such Business Combination beneficially own, directly or indirectly,
more than 50% of the then-outstanding shares of common stock and the combined
voting power of the then-outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the entity
resulting from such Business Combination (including, without limitation, an
entity that, as a result of such transaction, owns Holdings or all or
substantially all of assets of Holdings directly or through one or more
subsidiaries (a “Parent”)) in
substantially the same proportions as their ownership immediately prior to such
Business Combination of the Outstanding Company Common Stock and the
Outstanding Company Voting Securities, as the case may be, (2) no CIC Person
(excluding any entity resulting from such Business Combination or a Parent or
any 

 12
 

employee benefit plan (or
related trust) of Holdings or such entity resulting from such Business
Combination or Parent) beneficially owns, directly or indirectly, more than 50%
of, respectively, the then-outstanding shares of common stock of the entity
resulting from such Business Combination or the combined voting power of the
then-outstanding voting securities of such entity, except to the extent that
the ownership in excess of 50% existed prior to the Business Combination, and
(3) at least a majority of the members of the board of directors or trustees of
the entity resulting from such Business Combination or a Parent were members of
the Incumbent Board (determined pursuant to clause (ii) above using the date
that is the later of the Initial Public Offering or the date that is two
years prior to the Business Combination as the Measurement Date) at the time of
the execution of the initial agreement or of the action of the Board providing
for such Business Combination; or

(iv)          approval by the
stockholders of Holdings of a complete liquidation or dissolution of Holdings
other than in the context of a transaction that does not constitute a Change of
Control under clause (iii) above;

provided,
however, that for the avoidance of doubt, the parties hereto agree that
neither (x) the closing of the Merger of Marquee Inc. with and into AMCE as of
the Effective Date, (y) the AMCEH Merger, nor (z) the 2007 IPO shall constitute
or be deemed to cause or result in a Change of Control.

“Common Stock” means common stock of Holdings, par
value $0.01 per share.

“Effective Date” means December 23, 2004 (the date of
the consummation of the Merger).

“Employee Option” means an option to purchase shares
of Common Stock issued under the Option Plan or other equity award plan of
Holdings.

“Exchange Act” means the Securities Exchange Act of
1934, as amended.

“Initial Public Offering” shall mean the first
issuance by Holdings (or its successor), on or before December 31, 2007, of any
class of common equity securities that is required to be registered (other than
on a Form S-8) under Section 12 of the Exchange Act.

“Management Stockholders Agreement” means that certain
Amended and Restated Management Stockholders Agreement by and among Holdings,
certain investors and certain management stockholder parties, dated as of June
11, 2007, or the “Management Stockholders Registration Rights Agreement”
anticipated to succeed such Management Stockholders Agreement in connection
with the Initial Public Offering.

“Merger” means the merger of Marquee Inc. with and
into AMCE pursuant to the Merger Agreement.

“Merger Agreement” means the Agreement and Plan of
Merger by and among Holdings, Marquee Inc. and AMCE, dated as of July 22, 2004.

 13
 

“Offering” means any underwritten public offering
occurring after the Initial Public Offering.

“Option Plan” means the AMC Entertainment Holdings,
Inc. Amended and Restated 2004 Stock Option Plan (f/k/a the 2004 Stock Option
Plan of Marquee Holdings Inc.), as such plan may be amended or restated from
time to time.

“Person” means any individual, corporation,
partnership, limited liability company, joint venture, association, joint stock
company, trust, estate, unincorporated organization or government or any agency
or political subdivision thereof.

“Subsidiary” of a Person means: (i) any corporation of
which more than 50% of the outstanding shares of Capital Stock having ordinary
voting power for the election of directors is owned directly or indirectly by
such Person; and (ii) any partnership, limited liability company, association,
joint venture or other entity in which such Person, directly or indirectly, has
a more than 50% equity interest.

[signature page follows]

 14

THIS AGREEMENT CONTAINS A BINDING
ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES.

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

	
  

  	
   

  	
  AMC ENTERTAINMENT HOLDINGS, 

  INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/ Craig R.
  Ramsey

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARQUEE HOLDINGS INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/ Craig R.
  Ramsey

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AMC ENTERTAINMENT INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/ Craig R.
  Ramsey

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   /s/ Peter C.
  Brown

  	
   

  
	
   

  	
   

  	
  PETER C. BROWN, EMPLOYEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  
						

 

Exhibit A

FORM OF RELEASE AGREEMENT

1.             Release by
Executive.  Peter C. Brown (“Executive”),
on his own behalf, on behalf of any entities he controls and on behalf of his
descendants, dependents, heirs, executors, administrators, assigns and
successors, and each of them, hereby acknowledges full and complete
satisfaction of and releases and discharges and covenants not to sue any of
AMCE ENTERTAINMENT HOLDINGS, INC. (“Holdings”), MARQUEE HOLDINGS INC., a Delaware corporation (“Marquee”), AMC ENTERTAINMENT INC., a Delaware
corporation (“AMCE” and, collectively with Holdings and Marquee, the “Company”),
its employees, officers, directors, divisions, subsidiaries, parents, or
affiliated corporations, past and present, and each of them, as well as its and
their assignees and successors (individually and collectively, “Company
Releasees”), from and with respect to any and all claims, agreements,
obligations, demands and causes of action, known or unknown, suspected or
unsuspected, arising out of or in any way connected with Executive’s
employment, the termination thereof, or any other relationship with or interest
in the Company, including without limiting the generality of the foregoing, any
claim for severance pay, profit sharing, bonus or similar benefit, pension,
retirement, life insurance, health or medical insurance or any other fringe
benefit, or disability, or any other claims, agreements, obligations, demands
and causes of action, known or unknown, suspected or unsuspected, resulting
from or arising out of any act or omission by or on the part of Company
Releasees committed or omitted prior to the date of this release agreement
(this “Agreement”), including, without limiting the generality of the
foregoing, any claim under Title VII of the Civil Rights Act of 1964, the
Americans with Disabilities Act, the Family and Medical Leave Act, or any other
federal, state or local law, regulation or ordinance; provided,
however, that the foregoing release does not apply to any obligation
of the Company to Executive pursuant to any of the following: (1) the benefits
due to the Executive in connection with the execution and delivery of this
Release Agreement pursuant to Section 7(c) of the Amended and Restated
Employment Agreement dated as of June 11, 2007 by and between the Company and
Executive; (2) the equity-based awards previously granted by the Company to
Executive as referred to in Exhibit [   ] hereto (which shall be
governed by and subject to termination pursuant to the terms and conditions of
the written agreements evidencing the applicable awards); (3) the Executive’s
right to his benefits pursuant to the Company’s retirement plans or to
Company-provided insurance policies as set forth in Exhibit [   ]
hereto (which benefits equal approximately [$                   ]
in the aggregate); (4) any right that the Executive may have to indemnification
pursuant to the Company’s certificate of incorporation, bylaws or Section 8 of
the Amended and Restated Employment Agreement dated as of March 22, 2007, under
applicable laws with respect to any losses that the Executive may have incurred
or may in the future incur with respect to his past service as an officer or
employee of the Company; and (5) with respect to any such losses, any rights
that the Executive may have to insurance coverage for such losses under any
Company directors and officers liability insurance policy.  In addition, this release does not cover any
claim that cannot be released as a matter of applicable law.

2.             [[Include if
California law then applicable] Waiver of Civil Code Section 1542.  This Agreement is intended to be effective as
a general release of and bar to each and every claim, agreement, obligation,
demand and cause of action hereinabove specified (collectively, the “Claims”).  Accordingly, Executive hereby expressly
waives any rights and 

benefits conferred by
Section 1542 of the California Civil Code as to the Claims.  Section 1542 of the California Civil Code
provides:

“A GENERAL RELEASE DOES NOT EXTEND TO A CLAIM WHICH
THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME
OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY
AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

Executive
acknowledges that he later may discover claims, demands, causes of action or
facts in addition to or different from those which Executive now knows or
believes to exist with respect to the subject matter of this Agreement and
which, if known or suspected at the time of executing this Agreement, may have
materially affected its terms. 
Nevertheless, Executive hereby waives, as to the Claims, any claims,
demands, and causes of action that might arise as a result of such different or
additional claims, demands, causes of action or facts.]

3.             Additional Release
by Executive.  In addition to the
release set forth in Section 1 above, Executive, on his own behalf and behalf
of his descendants, dependents, heirs, executors, administrators, assigns and
successors, and each of them, hereby acknowledges full and complete satisfaction
of and releases and discharges and covenants not to sue any director, officer,
shareholder, partner, representative, attorney, agent or employee, past or
present, of any Company Releasee, from and with respect to any and all claims,
agreements, obligations, demands and causes of action (collectively, “Known
Claims”), arising out of or in any way connected with Executive’s
employment or any other relationship with or interest in the Company.

4.             ADEA Waiver.  Executive expressly acknowledges and agrees
that by entering into this Agreement, he is waiving any and all rights or
claims that he may have arising under the Age Discrimination in Employment Act
of 1967, as amended, which have arisen on or before the date of execution of
this Agreement.  Executive further
expressly acknowledges and agrees that:

(a)   In return for this Agreement,
he will receive consideration beyond that to which he would have been entitled
had he not entered into this Agreement;

(b)   He is hereby advised in writing
by this Agreement to consult with an attorney before signing this Agreement;

(c)   He was given a copy of this
Agreement on [                     ,
20      ] and informed
that he had twenty-one (21) days within which to consider the Agreement; and

(d)   He was informed that he has seven
(7) days following the date of execution of the Agreement in which to revoke
the Agreement.

5.             Release by the
Company.  The Company, on behalf of
its employees, officers, directors, divisions, subsidiaries, parents,
affiliates, assigns and successors, and each of them, hereby acknowledges full
and complete satisfaction of and releases and discharges and covenants not to
sue Executive, his descendants, dependents, heirs, executors, administrators, 

 2
 

assigns and successors,
and each of them, from and with respect to any and all claims, agreements,
obligations, demands and causes of action, known or unknown, suspected or
unsuspected, arising out of or in any way connected with Executive’s
employment, the termination thereof, or any other relationship with or interest
in the Company resulting from or arising out of any act or omission by or on
the part of Executive committed or omitted prior to the date of this Agreement;
provided, however, that the foregoing
release does not apply to any breach by Executive of his fiduciary duties to
the Company, to fraud by Executive, or to any claim that cannot be released as
a matter of applicable law.

6.             Additional Release
by the Company.  In addition to the
release set forth in Section 5 above, the Company, on behalf of its employees,
officers, directors, divisions, subsidiaries, parents, affiliates, assigns and
successors, and each of them, hereby acknowledges full and complete
satisfaction of and releases and discharges and covenants not to sue any
director, officer, shareholder, partner, representative, attorney, agent or
employee, past or present, of Executive, any entities he controls, his
descendants, dependents, heirs, executors, administrators, assigns and
successors, from and with respect to any Known Claims.

7.             No Transferred
Claims.  Each party hereto represents
and warrants to the other that he or it, as applicable, has not heretofore
assigned or transferred to any person not a party to this Agreement any
released matter or any part or portion thereof.

[Continued on the next
page.]

 3
 

The undersigned have read
and understand the consequences of this Agreement and voluntarily sign it.  The undersigned declare under penalty of
perjury under the laws of the State of [                    
] that the foregoing is true and correct.

EXECUTED
this                      day
of                
20       , at                                   
County, [State].

	
   

  	
  “Executive”

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Peter C. Brown

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AMC ENTERTAINMENT HOLDINGS, INC.,

  
	
   

  	
  and its divisions, subsidiaries, parents, and
  affiliated companies, past and present, and each of them

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  MARQUEE HOLDINGS INC.,

  
	
   

  	
  and its divisions, subsidiaries, parents, and
  affiliated companies, past and present, and each of them

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AMC ENTERTAINMENT INC.,
  and its divisions, subsidiaries, parents, and affiliated companies, past and
  present, and each of them

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  

 

 4Exhibit
10.9

Amended and Restated as of
June 11, 2007

AMC ENTERTAINMENT HOLDINGS, INC.

AMENDED AND RESTATED 2004 STOCK OPTION PLAN

(F/K/A

THE 2004 STOCK OPTION PLAN

OF

MARQUEE
HOLDINGS INC.)

AMC Entertainment Holdings,
Inc. a Delaware corporation (the “Company”), hereby adopts this Amended
and Restated 2004 Stock Option Plan (f/k/a the 2004 Stock Option Plan of
Marquee Holdings Inc.), originally adopted by Marquee Holdings Inc. on December
22, 2004 and previously amended by Marquee Holdings Inc. on November 7,
2006.  The purposes of this Plan are as follows:

(1)                                   To further the growth, development and
financial success of the Company and its Plan Subsidiaries (as defined herein),
by providing additional incentives to Employees, Consultants and Non-Employee
Directors (as such terms are defined below) of the Company and its Plan
Subsidiaries who have been or will be given responsibility for the management
or administration of the Company’s (or one of its Plan Subsidiaries’) business
affairs, by assisting them to become owners of Common Stock, thereby benefiting
directly from the growth, development and financial success of the Company and
its Plan Subsidiaries.

(2)                                   To enable the Company (and its Plan
Subsidiaries) to obtain and retain the services of the type of professional,
technical and managerial Employees, Consultants and Non-Employee Directors
considered essential to the long-range success of the Company (and its Plan
Subsidiaries) by providing and offering them an opportunity to become owners of
Common Stock under Options, including, in the case of certain employees,
Options that are intended to qualify as “incentive stock options” under
Section 422 of the Code (as defined herein).

ARTICLE I.

DEFINITIONS

Whenever the following terms
are used in this Plan, they shall have the meaning specified below unless the
context clearly indicates to the contrary.  The singular pronoun shall
include the plural where the context so indicates.

Section 1.1                                      “Affiliate”
shall mean, with respect to any specified Person:

(a)                                   any other Person
directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person; or

(b)                                   any other Person
that owns, directly or indirectly, 10% or more of such Person’s Capital Stock
or any officer or director of any such Person or other Person or with respect
to any natural Person, any person having a relationship with such Person by
blood, marriage or adoption not more remote than first cousin.

For the purposes of this definition, “control” when
used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have meanings correlative to the foregoing.

Section 1.2                                    “AMCE”
shall mean AMC Entertainment Inc., a Delaware corporation.

Section 1.3                                    “Apollo”
shall mean Apollo Management V, L.P., a Delaware limited partnership.

Section 1.4                                    “Apollo Group”
shall mean (i) Apollo; (ii) the Apollo Holders; and (iii) any Affiliate of
Apollo (including the Apollo Holders).

Section 1.5                                    “Apollo
Holders” shall mean Apollo Investment Fund V, L.P. (“AIF V”), Apollo
Overseas Partners V, L.P. (“AOP V”), Apollo Netherlands Partners V (A), L.P. (“Apollo
Netherlands A”), Apollo Netherlands Partners V (B), L.P. (“Apollo Netherlands B”),
and Apollo German Partners V GmbH & Co KG (“Apollo German Partners”) and
any other partnership or entity affiliated with and managed by Apollo or its Affiliates
to which AIF V, AOP V, Apollo Netherlands A, Apollo Netherlands B, or Apollo
German Partners assigns any of their respective interests in the Company.

Section 1.6                                    “Apollo
Investors” shall mean, collectively, AIF V, AOP V, Apollo Netherlands A, Apollo
Netherlands B and Apollo German Partners.

Section 1.7                                    “Board”
shall mean the Board of Directors of the Company.

Section 1.8                                    “Capital Stock”
of any Person shall mean any and all shares, interest, participations or other
equivalents (however designated) of such Person’s capital stock, including
preferred stock, any rights (other than debt securities convertible into
capital stock), warrants or options to acquire such capital stock, whether
outstanding as of the Effective Time or issued thereafter.

Section 1.9                                    “Change of
Control” shall mean the occurrence of, after the Effective Date, any of the
following events:

(a)                                   any “person” or “group”
as such terms are used in Sections 13(d) and 14(d) of the Exchange Act other
than one or more Permitted Holders is or becomes the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such
person or group shall be deemed to have “beneficial ownership” of all shares
that any such person or group has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or
indirectly, by way of merger, consolidation or other business combination or
purchase of 50% or more of the total voting power of the Voting Stock of the
Company or of AMCE (for purposes of calculating the total voting power of the
Voting Stock held by a group solely in the context of a merger, consolidation
or other business combination with a Person engaged in a line of business
similar to that of the Company or of AMCE and its Subsidiaries on
August 18, 2004, the voting power beneficially owned by the Permitted
Holders or by Permitted Co-Investors, to the extent such voting power of the
Voting Stock was acquired by such Permitted Co-Investors on or before
January 31, 2005 in transactions that satisfy the definition of Permitted
Co-Investor, shall be excluded in an amount equal to the lesser of the total
voting power of the Voting Stock beneficially owned by such Permitted
Co-Investors on (x) January 31, 2005 or (y) the date of such merger,
consolidation or other business combination);

(b)                                   the adoption of a
plan relating to the liquidation or dissolution of the Company or AMCE;

(c)                                   the sale, lease,
transfer or other conveyance, in one or a series of related transactions, of
all or substantially all of the assets of the Company or of AMCE and its
Subsidiaries, taken as a whole, to any Person other than one or more Permitted
Holders; or

(d)                                   a change of
control under the indentures relating to the 9 1⁄2% Senior Subordinated Notes due
2011 (the “2011 Notes”), the 9 7/8 % Senior Subordinated Notes due 2012 or the 8%
Senior Subordinated Notes due 2014 issued by AMCE (other than a change of
control under the indenture relating to the 2011 Notes resulting from the
Transactions);

provided, however, that for the avoidance of doubt, the closing of the
Merger of Marquee Inc. with and into AMCE as of the Effective Date shall not
constitute and shall not be deemed to cause or result in a Change of Control
hereunder.

Section 1.10                                  “Code”
shall mean the Internal Revenue Code of 1986, as amended.

Section 1.11                                  “Committee”
shall mean the Committee appointed as provided in Section 6.1.

Section 1.12                                  “Common Stock”
shall mean the common stock of the AMC Entertainment Holdings, Inc., par value
$0.01 per share.

Section 1.13                                  “Company”
shall mean AMC Entertainment Holdings, Inc., a Delaware corporation.  In
addition, “Company” shall mean any corporation assuming, or issuing new
employee stock options in substitution for, Incentive Stock Options outstanding
under the Plan in a transaction to which Section 424(a) of the Code
applies.

Section 1.14                                  “Consultant”
shall mean any consultant or adviser if:

(a)                                   The consultant or
adviser renders bona  fide services to the Company or a Plan
Subsidiary;

(b)                                   The services
rendered by the consultant or adviser are not in connection with the offer or
sale of securities in a capital-raising transaction and do not directly or
indirectly promote or maintain a market for the Company’s securities; and

(c)                                   The consultant or
adviser is a natural person who has contracted directly with the Company or a
Plan Subsidiary to render such services.

Section 1.15                                  “Convertible
Securities” shall mean any evidence of indebtedness, shares of stock or
other securities (other than Investor Options or Warrants) which are directly
or indirectly convertible into or exchangeable or exercisable for shares of
Stock.

Section 1.16                                  “Corporate
Event” shall mean, as determined by the Committee (or by the Board, in the
case of Options granted to Non-Employee Directors) in its sole discretion, any
transaction or event described in Section 7.1(a) or any unusual or
nonrecurring transaction or event affecting the Company, any Affiliate of the
Company, or the financial statements of the Company or any Affiliate of the Company,
or any change in applicable laws, regulations, or accounting principles.

Section 1.17                                  “Director”
shall mean a member of the Board.

Section 1.18                                  “Effective Date” shall mean the later
to occur of (i) the date of the closing of the merger of Marquee Inc. with and into AMCE pursuant to the
Agreement and Plan of Merger by and among Holdings, Marquee Inc. and AMCE,
dated as of July 22, 2004 and (ii) the date on which occurs the Effective
Time.

Section 1.19                                  “Effective
Time” shall mean the date and time of the filing (or if another date and
time is specified in such filing, such specified date or time) of a certificate
of merger relating to the Merger with the Secretary of the State of Delaware
pursuant to Section 1.2 of the Merger Agreement.

Section 1.20                                  “Eligible
Representative” for an Optionee shall mean such Optionee’s personal
representative or such other person as is empowered under the deceased Optionee’s
will or the then applicable laws of descent and distribution to represent the
Optionee hereunder.

Section 1.21                                  “Employee”
shall mean, with respect to any entity, any employee of such entity (as defined
in accordance with the regulations and revenue rulings then applicable under
Section 3401(c) of the Code).

Section 1.22                                  “Equivalent
Shares” shall mean, at any date of determination, (a) as to any outstanding
shares of Stock, such number of shares of Stock, (b) as to any outstanding
Investor Options, Warrants or Convertible Securities, the maximum number of
shares of Stock for which or into which such Investor Options, Warrants or
Convertible Securities may at the time be exercised, converted or exchanged (or
which will become exercisable, convertible or exchangeable on or prior to, or
by reason of, the transaction or circumstances in connection with which the
number of Equivalent Shares is to be determined) and (c) in respect of any
Subsidiary of the Company, (i) as to any outstanding shares of stock of any
Subsidiary of the Company, such number of shares of stock or (ii) as to any
outstanding options, warrants or convertible securities, the maximum number of
shares of stock of any Subsidiary of the Company for which or into which such
options, warrants or convertible securities may at the time be exercised,
converted or exchanged (or which will become exercisable, convertible or
exchangeable on or prior to, or by reason of, the transaction or circumstances
in connection with which the number of Equivalent Shares is to be
determined).  For purposes of the definition of “Equivalent Share,” “Subsidiary”
or “Subsidiaries” of any Person means any corporation, partnership, joint
venture or other legal entity of which such Person (either alone or through or
together with any other Person), owns, directly or indirectly, 50% or more of
the stock or other equity interests which are generally entitled to vote for
the election of the board of directors or other governing body of such
corporation or other legal entity.

Section 1.23                                  “Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended.

Section 1.24                                  “Fair Market
Value” of a share of Common Stock as of a given date shall be:

(a)                                   the closing price
of a share of Common Stock on the principal exchange on which such shares are
then trading, if any (or as reported on any composite index which includes such
principal exchange), on the most recent trading day prior to such determination
date; or

(b)                                   if Common Stock
is not traded on an exchange, the mean between the closing representative bid
and asked prices for a share of Common Stock on the most recent trading day
prior to such determination date as reported by Nasdaq or, if Nasdaq is not
then in existence, by its successor quotation system; or

(c)                                   if Common Stock
is not publicly traded on an exchange and not quoted on Nasdaq or a successor
quotation system, the fair market value of a share of Common Stock as
determined in good faith by the Board or the Committee.

Section 1.25                                  “Incentive
Stock Option” shall mean an Option that conforms to the applicable
provisions of Section 422 of the Code and that is designated as an
Incentive Stock Option by the Committee.

Section 1.26                                  “Initial
Investor Shares” shall mean that number of Shares held by an Investor
immediately following the Effective Time, as the same may be adjusted for stock
splits, stock dividends, recapitalizations or similar events.

Section 1.27                                  “Initial
Public Offering” shall mean the first issuance by the Company of any class
of common equity securities that is required to be registered (other than on a
Form S-8) under Section 12 of the Exchange Act.

Section 1.28                                  “Investor”
or “Investors” shall mean each of the JPMP Investors, the Apollo
Investors and the other entities listed on Schedule 1 attached to the
Investor Stockholders Agreement and, upon the unanimous approval of each of the
JPMP Investors and the Apollo Investors, any other subsequent holder of Shares
who agrees to be bound by the terms of the Investor Stockholders Agreement.

Section 1.29                                  “Investor
Options” shall mean any options to subscribe for, purchase or otherwise
directly acquire Stock, other than any such option held by the Company or any
right to purchase shares pursuant to the Investor Stockholders Agreement.

Section 1.30                                  “Investor
Stockholders Agreement” shall mean that certain Stockholders Agreement by
and among the Company, the JPMP Investors, the Apollo Investors and certain
other stockholder parties thereto dated as of October 29, 2004, as
amended.

Section 1.31                                  “J.P. Morgan
Partners Group” shall mean (i) J.P. Morgan Partners, LLC and (ii) any
Affiliates of J.P. Morgan Partners, LLC.

Section 1.32                                  “JPMP
Investors” shall mean, collectively, J.P. Morgan Partners (BHCA), L.P. (“JPMP
BHCA”), J.P. Morgan Global Investors (Cayman), L.P., JP. Morgan Partners Global
Investors (Cayman) II, L.P., and any other affiliated entities designated by
JPMP BHCA to the Company in writing prior to the Effective Time.

Section 1.33                                  “Management
Stockholders Agreement” shall mean that certain Management Stockholders
Agreement dated June 11, 2007 by and among the AMC Entertainment Holdings,
Inc., the Principal Investors and certain management stockholders which
contains terms applicable to Options, the shares of Common Stock acquired upon
Option exercise and shares of common stock of the Company if any, held by the
Optionee during the term of such agreement.

Section 1.34                                  “Merger”
shall mean the merger of Marquee Inc. with and into AMCE pursuant to the Merger
Agreement.

Section 1.35                                  “Merger
Agreement” shall mean the Agreement and Plan of Merger by and among the
Company, Marquee Inc. and AMCE, dated as of July 22, 2004.

Section 1.36                                  “Non-Employee
Director” shall mean a Director who is not an Employee of the Company or
any of its Plan Subsidiaries, and may include, without limitation, a
non-Employee Director designated by a member of the J.P. Morgan Partners Group
or of the Apollo Group.

Section 1.37                                  “Non-Qualified
Stock Option” shall mean an Option which is not an “incentive stock option”
within the meaning of Section 422 of the Code.

Section 1.38                                  “Officer”
shall mean an officer of the Company, as defined in Rule 16a-l(f) under the
Exchange Act, as such Rule may be amended from time to time.

Section 1.39                                  “Option”
shall mean an option granted under the Plan to purchase Common Stock.  An
Option shall, as determined by the Committee, be either an Incentive Stock
Option or a Non-Qualified Stock Option; provided, however, that any Option
granted to an individual who is not an Employee of the Company or one of its
Plan Subsidiaries shall be a Non-Qualified Stock Option.

Section 1.40                                  “Optionee”
shall mean an Employee, Consultant or Non-Employee Director to whom an Option
is granted under the Plan.

Section 1.41                                  “Permitted
Co-Investor” shall mean an Investor (other than the Principal Investors) as
of the Effective Time and any one or more institutional investors and their
respective Affiliates to which any Permitted Holder transfers in the aggregate
up to, but no more than, 35% of (a) its equity commitments to the Transactions
or (b) its equity securities of the Company or AMCE, in each case on or before
January 31, 2005 (all transfers to any Affiliates of such institutional
investor shall be included in such percentage calculation).

Section 1.42                                  “Permitted
Holder” shall mean:

(a)                                   any member of the
Apollo Group;

(b)                                   any member of the
J.P. Morgan Partners Group; and

(c)                                   any Subsidiary,
any employee stock purchase plan, stock option plan or other stock incentive
plan or program, retirement plan or automatic reinvestment plan or any
substantially similar plan of AMCE or the Company or any Subsidiary of the
Company or any Person holding securities of AMCE or the Company for or pursuant
to the terms of any such employee benefit plan; provided that if any lender or
other Person shall foreclose on or otherwise realize upon or exercise any
remedy with respect to any security interest in or lien on any securities of
AMCE or the Company held by any Person listed in this clause (c), then such
securities shall no longer be deemed to be held by a Permitted Holder.

Section 1.43                                  “Permitted Transfer” shall mean: 
(i) a Transfer approved by each Principal Investor so long as there are any
Principal Investors, (ii) a Transfer to an Affiliate of such Investor; provided
such transferee remains an Affiliate of such transferor following the Transfer;
(iii) following an Initial Public Offering, a Transfer by an Investor made
as part of a distribution by an Investor to its respective general or
limited partners or members in accordance with such Investor’s fund documents,
as the case may be; (iv) a Transfer made by a JPMP Investor pursuant to and in
accordance with the Regulatory Sideletter; or (v) a Transfer made pursuant to
the registration rights as set forth in Section 7 of the Investor
Stockholders Agreement; provided that such transferee, in the case of
clauses (i), (ii), (iii) and (iv) above shall agree in writing with the parties
to the Investor Stockholders Agreement to be bound by, and to comply with, all
applicable provisions of and to be deemed to be an Investor for purposes of the
Investor Stockholders Agreement.

Section 1.44                                  “Permitted
Transferee” shall mean any Person who acquires Shares pursuant to clauses
(i), (ii) and (iii) of the definition of “Permitted Transfer”.

Section 1.45                                  “Person”
shall mean any individual, corporation, partnership, limited liability company,
joint venture, association, joint stock company, trust, estate, unincorporated
organization or government or any agency or political subdivision thereof.

Section 1.46                                  “Plan
Subsidiary” of any entity shall mean any corporation in an unbroken chain
of corporations beginning with such entity if each of the corporations other
than the last corporation in the unbroken chain then owns stock possessing 50%
or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain.

Section 1.47                                  “Plan”
shall mean this 2004 Stock Option Plan of Marquee Holdings Inc., as amended
from time to time.

Section 1.48                                  “Principal
Investors” shall mean (i) the JPMP Investors, so long as the JPMP
Investors, together with their Permitted Transferees, collectively own Shares
representing at least 33% of the Initial Investor Shares owned by the JPMP
Investors; provided, that the JPMP Investors shall not be deemed to be a
Principal Investor at any time that they do not, together with their Permitted
Transferees, collectively own Shares representing at least 33% of the Initial
Investor Shares owned by the JPMP Investors, and (ii) the Apollo Investors, so
long as the Apollo Investors, together with their Permitted Transferees,
collectively own Shares representing at least 33% of the Initial Investor
Shares owned by the Apollo Investors; provided, that the Apollo
Investors shall not be deemed to be a Principal Investor at any time that they
do not, together with their Permitted Transferees, collectively own Shares
representing at least 33% of the Initial Investor Shares owned by the Apollo
Investors (in each case, as may be adjusted for stock splits, stock dividends,
recapitalizations or similar events).  For the avoidance of doubt, so long
as there are two Principal Investors, references in this Agreement to “Principal
Investors” shall mean both Principal Investors, and if at any time there is
only one Principal Investor, references in this Agreement to “the Principal
Investors” or “each Principal Investor” shall mean that sole Principal Investor
then remaining.

Section 1.49                                  “Regulatory
Sideletter” shall mean that certain letter agreement between the Company
and the JPMP Investors, a copy of which is attached to the Investor
Stockholders Agreement as Exhibit B.

Section 1.50                                  “Rule 16b-3”
shall mean that certain Rule 16b-3 promulgated under the Exchange Act, as such
Rule may be amended from time to time.

Section 1.51                                  “Securities
Act” shall mean the Securities Act of 1933, as amended.

Section 1.52                                  “Shares”
shall mean (a) all shares of Stock, whenever issued, including all shares of
Stock issued upon the exercise, conversion or exchange of any Investor Options,
Warrants or Convertible Securities and (b) all Investor Options, Warrants and
Convertible Securities (treating such Investor Options, Warrants and
Convertible Securities as a number of Shares equal to the number of Equivalent
Shares represented by such Investor Options, Warrants and Convertible
Securities for all purposes of this Agreement except as otherwise specifically
set forth herein).

Section 1.53                                  “Stock”
shall mean Common Stock, together with any other classes or series of equity
securities of AMC Entertainment Holdings, Inc.

Section 1.54                                  “Stock Option
Agreement” shall have the meaning set forth in Section 4.1

Section 1.55                                  “Subsidiary”
of a Person shall mean: (i) any corporation of which more than 50% of the
outstanding shares of Capital Stock having ordinary voting power for the
election of directors is owned directly or indirectly by such Person; and (ii)
any partnership, limited liability company, association, joint venture or other
entity in which such Person, directly or indirectly, has a more than 50% equity
interest.

Section 1.56                                  “Termination
of Consultancy” shall mean the time when the engagement of an Optionee as a
Consultant to the Company or a Plan Subsidiary is terminated for any reason,
with or without cause, including, but not by way of limitation, by resignation,
discharge, death or retirement, but excluding a termination where there is a
simultaneous commencement of employment with the Company or any Plan
Subsidiary.  The Committee, in its sole discretion, shall determine the
effect of all matters and questions relating to Termination of Consultancy.

Section 1.57                                  “Termination
of Directorship” shall mean the time when an Optionee who is an
Non-Employee Director ceases to be a Director for any reason, including but not
by way of limitation, a termination by resignation, failure to be elected or
appointed, death or retirement.  The Board, in its sole discretion, shall determine
the effect of all matters and questions relating to Termination of
Directorship.

Section 1.58                                  “Termination
of Employment” shall mean the time when the employee-employer relationship
between an Optionee and the Company (or one of its Plan Subsidiaries) is
terminated for any reason, with or without cause, including, but not by way of
limitation, a termination by resignation, discharge, death or retirement, but
excluding a termination where there is a simultaneous reemployment by the
Company (or one of its Plan Subsidiaries).  The Committee shall determine
the effect of all matters and questions relating to Termination of Employment,
including, but not by way of limitation, the question of whether a Termination
of Employment resulted from a discharge for cause, and all questions of whether
a particular leave of absence constitutes a Termination of Employment; provided,
however, that, with respect to Incentive Stock Options, a leave of absence
shall constitute a Termination of Employment if, and to the extent that, such
leave of absence interrupts employment for the purposes of
Section 422(a)(2) of the Code and the then applicable regulations and
revenue rulings under Section 442(a)(2) of the Code.

Section 1.59                                  “Transactions”
shall mean the transactions set forth in the Agreement and Plan of Merger by
and among the Company, Marquee Inc., and AMCE, dated as of July 22, 2004
and the transactions related thereto.

Section 1.60                                  “Transfer”
shall mean a transfer, sale, assignment, pledge, hypothecation or other disposition
or exchange, including any Transfer of a voting or economic interest in
securities or other property; and “Transferring” or “Transferred” have
correlative meanings.

Section 1.61                                  “Voting Stock”
of a Person shall mean all classes of Capital Stock or other interests
(including partnership interests) of such Person then outstanding and normally
entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers or trustees thereof.

Section 1.62                                  “Warrants”
shall mean any warrants to subscribe for, purchase or otherwise directly
acquire Stock or Convertible Securities.

ARTICLE II.

SHARES
SUBJECT TO PLAN

Section 2.1                                    Shares Subject to
Plan.  The shares of stock subject to Options shall be shares of
Common Stock. Subject to Section 7.1, the aggregate number of such shares
which may be issued upon exercise of Options shall not exceed forty-nine
thousand one hundred seven and forty four thousand six hundred eighty-one
hundred thousandths (49,107.44681) shares of Common Stock.

Section 2.2                                    Unexercised
Options.  If any Option (or portion thereof) expires or is canceled
without having been fully exercised, the number of shares subject to such
Option (or portion thereof) but as to which such Option was not exercised prior
to its expiration or cancellation may again be optioned hereunder, subject to
the limitations of Section 2.1.

ARTICLE III.

GRANTING OF
OPTIONS

Section 3.1                                    Eligibility.  Subject
to Section 3.2, any (a) Employee of the Company or one of its Plan
Subsidiaries; (b) Consultant; or (c) Non-Employee Director shall be eligible to
be granted Options.

Section 3.2                                    Qualification of
Incentive Stock Options.  Notwithstanding Section 3.1, no
Incentive Stock Option shall be granted to any person who is not an Employee of
the Company or one of its Plan Subsidiaries.

Section 3.3                                    Granting of
Options to Employees and Consultants.

(a)                                   The Committee
shall from time to time:

(i)                                          Select from among
the Employees and Consultants of the Company and any of its Plan Subsidiaries
(including those to whom Options have been previously granted under the Plan)
such of them as in its opinion should be granted Options;

(ii)                                         Determine the
number of shares to be subject to such Options granted to such Employees and
Consultants and, subject to Section 3.2, determine whether such Options
are to be Incentive Stock Options or Non-Qualified Stock Options; and

(iii)                                        Determine the
terms and conditions of such Options, consistent with the Plan.

(b)                                   Upon the
selection of an Employee or Consultant of the Company or any of its Plan
Subsidiaries to be granted an Option pursuant to Section 3.3(a), the
Committee shall instruct the corporate secretary or another authorized Officer
of the Company to issue such Option and may impose such conditions on the grant
of such Option as it deems appropriate.  Without limiting the generality
of the preceding sentence, the Committee may require as a condition to the
grant of an Option to such an Employee or Consultant that such Employee or
Consultant surrender for cancellation some or all of the unexercised Options
which have been previously granted to him or her.  An Option the grant of
which is conditioned upon such surrender may have an Option price lower (or
higher) than the Option price of the surrendered Option, may cover the same (or
a lesser or greater) number of shares as the surrendered Option, may contain
such other terms as the Committee deems appropriate and shall be exercisable in
accordance with its terms, without regard to the number of shares, price,
period of exercisability or any other term or condition of the surrendered
Option.

Section 3.4                                    Granting of
Option to Non-Employee Directors

(a)                                   The Board shall
from time to time:

(i)                               Select from among
the Non-Employee Directors (including those to whom Options have previously
been granted under the Plan) such of them as in its opinion should be granted
Options;

(ii)                              Determine the
number of shares to be subject to such Options granted to such selected
Non-Employee Directors; and

(iii)                             Determine the
terms and conditions of such Options, consistent with the Plan; provided, however, that all Options
granted to Non-Employee Directors shall be Non-Qualified Stock Options.

(b)                                   Upon the
selection of an Non-Employee Director to be granted an Option pursuant to
Section 3.4(a), the Board shall instruct the corporate secretary or
another authorized Officer of the Company to issue such Option and may impose
such conditions on the grant of such Option as it deems appropriate. 
Without limiting the generality of the preceding sentence, the Board may
require as a condition to the grant of an Option to an Non-Employee Director
that the Non-Employee Director surrender for cancellation some or all of the
unexercised Options which have been previously granted to him or her.  An
Option the grant of which is conditioned upon such surrender may have an Option
price lower (or higher) than the Option price of the surrendered Option, may
cover the same (or a lesser or greater) number of shares as the surrendered
Option, may contain such other terms as the Board deems appropriate and shall
be exercisable in accordance with its terms, without regard to the number of
shares, price, period of exercisability or any other term or condition of the
surrendered Option.

ARTICLE IV.

TERMS OF
OPTIONS

Section 4.1                                    Stock Option
Agreement.  Each Option shall be evidenced by a written Stock Option
Agreement, which shall be executed by the Optionee and an authorized Officer of
the Company and which shall contain such terms and conditions as the Committee
(or the Board, in the case of Options granted to Non-Employee Directors) shall
determine, consistent with the Plan.  Stock Option Agreements evidencing
Incentive Stock Options shall contain such terms and conditions as may be
necessary to qualify such Options as “incentive stock options” within the
meaning of Section 422 of the Code.  Each Option shall also be
subject to the Management Stockholders Agreement, and as a condition of the
grant of an Option, the Optionee shall become a party to the Management
Stockholders Agreement.

Section 4.2                                    Exercisability of
Options

(a)                                   Subject to
section 4.2 (b) and Section 4.4, and unless otherwise specified in
any Stock Option Agreement, each Option shall vest and become exercisable in
five equal and cumulative installments provided that the Optionee remains
continuously employed (or providing services as a Director or Consultant) by or
to the Company from the date of grant through such date as follows:

(i)                                          The first
installment shall consist of 20% of the shares of Common Stock covered by such
Option and shall become exercisable on the first anniversary of the date of
grant;

(ii)                                         The second
installment shall consist of 20% of the shares of Common Stock covered by such
Option and shall become exercisable on the second anniversary of the date of
grant;

(iii)                             The third
installment shall consist of 20% of the shares of Common Stock covered by such
Option and shall become exercisable on the third anniversary of the date of
grant;

(iv)                             The fourth
installment shall consist of 20% of the shares of Common Stock covered by such
Option and shall become exercisable on the fourth anniversary of the date of
grant; and

(v)                              The fifth
installment shall consist of 20% of the shares of Common Stock covered by such
Option and shall become exercisable on the fifth anniversary of the date of
grant

(b)                                   Except as
otherwise provided in the applicable Stock Option Agreement (or by action of
the Board or Committee), no portion of an Option which is unexercisable at
Termination of Employment, Termination of Consultancy or Termination of
Directorship, as applicable, shall thereafter become exercisable.

(c)                                   To the extent that the aggregate Fair Market
Value of stock with respect to which “incentive stock options” (within the
meaning of Section 422 of the Code, but without regard to Section 422(d)
of the Code) are exercisable for the first time by an Optionee during any
calendar year (under the Plan and all other incentive stock option plans of the
Company or any Plan Subsidiary thereof) exceeds $100,000, such options shall be
treated and taxable as Non-Qualified Stock Options.  The rule set forth in
the preceding sentence shall be applied by taking options into account in the
order in which they were granted, and the stock issued upon exercise of options
shall designate whether such stock was acquired upon exercise of an Incentive
Stock Option.  For purposes of these rules, the Fair Market Value of stock
shall be determined as of the date of grant of the Option granted with respect
to such stock.

Section 4.3                                    Option Price  The price
of the shares subject to each Option shall be set by the Committee (or the
Board, in the case of Options granted to Non-Employee Directors); provided,
however, that in the case of an Incentive Stock Option, the price per share
shall be not less than 100% of the Fair Market Value of such shares on the date
such Option is granted; and provided, further, that in the case
of an individual then owning (within the meaning of Section 424(d) of the
Code) more than 10% of the total combined voting power of all classes of stock
of the Company, the price per share shall not be less than 110% of the Fair
Market Value of such shares on the date such Incentive Stock Option is granted.

Section 4.4                                    Expiration of
Options.  No Option may be exercised to any extent by anyone after the
first to occur of the following events:

(a)                                   The expiration of
ten years from the date the Option was granted; or

(b)                                   With respect to
an Incentive Stock Option in the case of an Optionee owning (within the meaning
of Section 424(d) of the Code), at the time the Incentive Stock Option was
granted, more than 10% of the total combined voting power of all classes of
stock of the Company or any Plan Subsidiary, the expiration of five years from
the date the Incentive Stock Option was granted.

Section 4.5                                    At-Will
Employment.  Nothing in the Plan or in any Stock Option Agreement hereunder
shall confer upon any Optionee any right to continue in the employ of, or as a
Consultant for or Director of, the Company or any Plan Subsidiary, or shall
interfere with or restrict in any way the rights of the Company and any Plan
Subsidiary, which are hereby expressly reserved, to

discharge any Optionee at any time for any reason
whatsoever, with or without cause, except to the extent expressly provided
otherwise in a written agreement between the Optionee and the Company or any
Plan Subsidiary.

ARTICLE V.

EXERCISE OF
OPTIONS

Section 5.1                                    Person Eligible
to Exercise.  During the lifetime of the Optionee, only he or she may
exercise an Option (or any portion thereof); provided, however, that the
Optionee’s Eligible Representative may exercise his or her Option during the
period of the Optionee’s disability (as defined in Section 22(e)(3) of the
Code) notwithstanding that an Option so exercised may not qualify as an
Incentive Stock Option.  After the death of the Optionee, any exercisable
portion of an Option may, prior to the time when such portion becomes
unexercisable under the Plan or the applicable Stock Option Agreement, be
exercised by his or her Eligible Representative.

Section 5.2                                    Partial Exercise.  At any
time and from time to time prior to the time when the Option becomes
unexercisable under the Plan or the applicable Stock Option Agreement, the
exercisable portion of an Option may be exercised in whole or in part; provided,
however, that the Company shall not be required to issue fractional shares and
the Committee (or the Board, in the case of Options granted to Non-Employee
Directors) may, by the terms of the Option, require any partial exercise to
exceed a specified minimum number of shares.

Section 5.3                                    Manner of
Exercise.  An exercisable Option, or any exercisable portion thereof, may
be exercised solely by delivery to the corporate secretary of all of the
following prior to the time when such Option or such portion becomes
unexercisable under the Plan or the applicable Stock Option Agreement:

(a)                                   Notice in writing
signed by the Optionee or his or her Eligible Representative, stating that such
Option or portion is exercised, and specifically stating the number of shares
with respect to which the Option is being exercised;

(b)                                   Full payment for
the shares with respect to which such Option or portion is thereby exercised:

(i)                               In cash or by
personal, certified, or bank cashier check; or

(ii)                              With the consent
of the Committee (or the Board, in the case of Options to Non-Employee
Directors), (A) shares of Common Stock which have been owned by the Optionee
for at least six months duly endorsed for transfer to the Company with a Fair
Market Value on the date of delivery equal to the aggregate exercise price of
the Option or exercised portion thereof; (B) except with respect to Incentive
Stock Options, shares of the Common Stock issuable to the Optionee upon
exercise of the Option, with a Fair Market Value on the date of Option exercise
equal to the aggregate Option price of the shares with respect to which such
Option or portion is thereby exercised; (C) following an Initial Public
Offering, delivery of a notice that the Optionee has placed a market sell order
with a broker with respect to shares of Common Stock then issuable upon
exercise of the Option, and that the broker has been directed to pay a
sufficient portion of the net proceeds of the sale to the Company in
satisfaction of the Option exercise price; or (D) any combination of the
consideration listed in this subsection (c);

(c)                                              The payment to
the Company (in cash or by personal, certified or bank cashier or by any other
means of payment approved by the Committee) of all amounts necessary to satisfy

any and all federal, state and local tax
withholding requirements arising in connection with the exercise of the Option;

(d)                                   Such representations and documents as the
Committee (or the Board, in the case of Options granted to Non-Employee
Directors) deems necessary or advisable to effect compliance with all
applicable provisions of the Securities Act, Exchange Act and any other federal
or state securities laws or regulations.  The Committee (or the Board, in
the case of Options granted to Non-Employee Directors) may, in its sole discretion,
also take whatever additional actions it deems appropriate to effect such
compliance including, without limitation, placing legends on share certificates and
issuing stop-transfer orders to transfer agents and registrars; and

(e)                                   In the event that
the Option or portion thereof shall be exercised pursuant to Section 5.1
by any person or persons other than the Optionee, appropriate proof of the
right of such person or persons to exercise the Option or portion thereof.

Section 5.4                                    Conditions to
Issuance of Stock Certificates.  The shares of stock issuable and
deliverable upon the exercise of an Option, or any portion thereof, may be
either previously authorized but unissued shares or issued shares which have
then been reacquired by the Company.  A certificate of shares will be
delivered to the Optionee at the Company’s principal place of business within
thirty days of receipt by the Company of the written notice and payment, unless
an earlier date is agreed upon.  Notwithstanding the above, the Company
shall not be required to issue or deliver any certificate or certificates for
shares of stock purchased upon the exercise of any Option or portion thereof
prior to fulfillment of all of the following conditions:

(a)                                   The admission of
such shares to listing on any and all stock exchanges on which such class of
stock is then listed;

(b)                                   The completion of
any registration or other qualification of such shares under any state or
federal law or under the rulings or regulations of the Securities and Exchange
Commission or any other governmental regulatory body, which the Committee (or
the Board, in the case of Options granted to Non-Employee Directors) shall, in
its sole discretion, deem necessary or advisable;

(c)                                   The obtaining of
any approval or other clearance from any state or federal governmental agency
which the Committee (or the Board, in the case of Options granted to
Non-Employee Directors) shall, in its sole discretion, determine to be
necessary or advisable; and

(d)                                   The payment to
the Company (in cash or by personal, certified or bank cashier or by any other
means of payment approved by the Committee) of all amounts necessary to satisfy
any and all federal, state and local tax withholding requirements arising in
connection with the exercise of the Option.

Section 5.5                                    Rights as
Stockholders.  The holder of an Option shall not be, nor have any of the
rights or privileges of, a stockholder of the Company in respect of any shares
purchasable upon the exercise of any part of an Option unless and until
certificates representing such shares have been issued by the Company to such
holder.

Section 5.6                                    Transfer Restrictions.  Shares acquired upon exercise of an
Option shall be subject to the terms and conditions of the Management
Stockholders Agreement.  In addition, the Committee (or the Board, in the
case of Options granted to Non-Employee Directors), in its sole discretion, may
impose further restrictions on the transferability of the shares purchasable
upon the exercise of an Option as it deems appropriate.  Any such
restriction shall be set forth in the respective

Stock
Option Agreement and may be referred to on the certificates evidencing such
shares.  The Committee may require the Employee to give the Company prompt
notice of any disposition of shares of stock, acquired by exercise of an
Incentive Stock Option, within two years from the date of granting such Option
or one year after the transfer of such shares to such Employee.  The
Committee may direct that the certificates evidencing shares acquired by exercise
of an Incentive Stock Option refer to such requirement.

ARTICLE VI.

ADMINISTRATION

Section 6.1                                    Committee.  Prior to
an Initial Public Offering, the Committee shall be the Compensation Committee
of the Board.  Following an Initial Public Offering, if any, the full
Board shall administer the Plan unless and until there is appointed a
Compensation Committee (or another committee or a subcommittee of the Board
assuming the functions of the Committee under the Plan) that shall consist
solely of two or more Non-Employee Directors appointed by and holding office at
the pleasure of the Board, each of whom is both a “non-employee director” as
defined by Rule 16b-3 and an “outside director” for purposes of
Section 162(m) of the Code.  Appointment of Committee members shall
be effective upon acceptance of appointment.  Committee members may resign
at any time by delivering written notice to the Board.  Vacancies in the
Committee may be filled by the Board in its sole discretion.  Any action
required or permitted to be taken by the Committee hereunder or under any Stock
Option Agreement may be taken by the Board.

Section 6.2                                    Delegation of
Authority.  The Committee may, but need not, from time to time delegate
some or all of its authority to grant Options under the Plan to a committee or
subcommittee consisting of one or more members of the Committee or of one or
more Officers of the Company; provided, however, that the
Committee may not delegate its authority to grant Options to individuals (a)
who are subject on the date of the grant to the reporting rules under
Section 16(a) of the Exchange Act, (b) whose compensation the Committee
determines is, or may become, subject to the deduction limitations set forth in
Section 162(m) of the Code or (c) who are Officers of the Company who are
delegated authority by the Committee hereunder. Any delegation hereunder shall
be subject to the restrictions and limits that the Committee specifies at the
time of such delegation, and the Committee may at any time rescind the
authority so delegated or appoint a new delegatee. At all times, the delegatee
appointed under this Section 6.2 shall serve in such capacity at the
pleasure of the Committee.

Section 6.3                                    Duties and Powers
of the Committee.  It shall be the duty of the Committee to conduct the general
administration of the Plan in accordance with its provisions.  The
Committee shall have the power to interpret the Plan and the Options and to
adopt such rules for the administration, interpretation and application of the
Plan as are consistent therewith and to interpret, amend or revoke any such
rules.  Notwithstanding the foregoing, the full Board, acting by a
majority of its members in office, shall conduct the general administration of
the Plan with respect to Options granted to Non-Employee Directors.  Any
such interpretations and rules adopted by the Committee in regard to Incentive
Stock Options shall be consistent with the terms and conditions applicable to “incentive
stock options” within the meaning of Section 422 of the Code.  All determinations
and decisions made by the Committee under any provision of the Plan or of any
Option granted thereunder shall be final, conclusive and binding on all
persons.

Section 6.4                                    Compensation,
Professional Assistance, Good Faith Actions.  The members of the Committee shall
receive such compensation, if any, for their services hereunder as may be determined
by the Board.  All expenses and liabilities incurred by the members of the
Committee or the Board in connection with the administration of the Plan shall
be borne by the Company.  The Committee

or the Board may employ attorneys, consultants,
accountants, appraisers, brokers or other persons.  The Committee, the
Company and its Officers and Directors shall be entitled to rely upon the
advice, opinions or valuations of any such persons.  All actions taken and
all interpretations and determinations made by the Committee and the Board in
good faith shall be final and binding upon all Optionees, the Company and all
other interested persons.  No member of the Board shall be personally
liable for any action, determination or interpretation made in good faith with
respect to the Plan or the Options, and all members of the Board shall be fully
protected by the Company in respect to any such action, determination or
interpretation.

ARTICLE VII.

OTHER
PROVISIONS

Section 7.1             Changes in Common
Stock; Disposition of Assets and Corporate Events

Subject to Section 7.1(d),
in the event that any dividend or other distribution (whether in the form of
cash, Common Stock, other securities, or other property), recapitalization,
reclassification, stock split, reverse stock split, reorganization, merger,
Change of Control, consolidation, split-up, spin-off, combination, repurchase,
liquidation, dissolution, or sale, transfer, exchange or other disposition of
all or substantially all of the assets of the Company, or exchange of Common
Stock or other securities of the Company, issuance of warrants or other rights
to purchase Common Stock or other securities of the Company, or other similar
corporate transaction or event, affects the Common Stock such that an
adjustment is appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the Plan or
with respect to an Option, then the Committee (or the Board, in the case of
Options granted to Non-Employee Directors) shall be required to, in such manner
as it may deem equitable, adjust any or all of:

(i)            The number and kind of shares of Common Stock
(or other securities or property) with respect to which Options may be granted
under the Plan (including, but not limited to, adjustments of the limitations
in Section 2.1 on the maximum number and kind of shares which may be issued);

(ii)           The number and kind of shares of Common Stock (or other securities or
property) subject to outstanding Options;

(iii)          The exercise price with respect to any Option; and

(iv)          The financial or other “targets” specified in each Stock Option
Agreement for determining the exercisability of Options.

The intent in granting the
Committee (and Board) some measure of discretion in this Section 7.1 to
determine whether a corporate event or transaction has affected the Common
Stock such that an equitable adjustment is appropriate to avoid dilution or enlargement
of benefits hereunder is to afford necessary administrative flexibility and
latitude in addressing unusual or

unanticipated corporate occurrences and in
determining how best to make the equitable adjustment; it is not the intent to
permit the Committee (or Board, as applicable) to determine that no equitable
adjustment is required in the event of a dividend or distribution,
recapitalization, stock-split, spin-off or other material transaction or event.

(b)           Subject to Section 7.1(d) and the terms of outstanding Stock Option
Agreements, upon the occurrence of a Corporate Event, the Committee (or the
Board, in the case of options granted to Non-Employee Directors) is hereby
directed to take any one or more of the following actions in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made
available under the Plan or with respect to any Option under this Plan, to
facilitate such Corporate Event or to give effect to such changes in laws,
regulations or principles:

(i)            The Committee (or the Board, in the case of
Options granted to Non-Employee Directors) may provide, either by the terms of
the applicable Stock Option Agreement or by action taken prior to the
occurrence of such Corporate Event and either automatically or upon the
Optionee’s request, for either the purchase of any such Option for an amount of
cash, securities, or other property equal to the amount that could have been
attained upon the exercise of the vested portion of such Option (and such
additional portion of the Option as the Board or Committee may determine)
immediately prior to the occurrence of such transaction or event, or the
replacement of such vested (and other) portion of such Option with cash, other
rights or property selected by the Committee (or the Board, in the case of
Options granted to Non-Employee Directors);

(ii)           The Committee (or the Board, in the case of Options granted to
Non-Employee Directors) may provide, either by the terms of the applicable
Stock Option Agreement or by action taken prior to the occurrence of such
Corporate Event, that the Option (or any portion thereof) cannot be exercised
after such event;

(iii)          The Committee (or the Board, in the case of Options granted to
Non-Employee Directors) may provide, either by the terms of the applicable
Stock Option Agreement or by action taken prior to the occurrence of such
Corporate Event, that for a specified period of time prior to such Corporate
Event, such Option shall be exercisable as to all shares covered thereby or a specified
portion of such shares, notwithstanding anything to the contrary in this Plan
or the applicable Stock Option Agreement;

(iv)          The Committee (or the Board, in the case of Options granted to
Non-Employee Directors) may provide, either by the terms of the applicable
Stock Option Agreement or by action taken prior to the occurrence of such
Corporate Event, that upon such event, such Option (or any portion thereof) be
assumed by the successor or survivor corporation, or a parent or Plan
Subsidiary thereof (including without limitation any common parent of the
Company and any other company or companies), or shall be substituted for by
similar options, rights or awards covering the stock of the successor or
survivor corporation, or a parent or Plan Subsidiary thereof (including without
limitation any common parent of the Company and any other company or
companies), with appropriate adjustments as to the number and kind of shares
and prices; and

(v)           The Committee (or the Board, in the case of Options granted to
Non-Employee Directors) may make adjustments in the number and type of shares
of Common Stock (or other securities or property) subject to outstanding
Options (or any portion thereof) and/or in the terms and conditions of
(including the exercise price), and

the criteria included in, outstanding Options and
Options which may be granted in the future.

(c)           Subject to Section 7.1(d), the Committee (or the Board, in the case of
Options granted to Non-Employee Directors) may, in its sole discretion, include
such further provisions and limitations in any Stock Option Agreement as it may
deem equitable and in the best interests of the Company and its Affiliates.

(d)           With respect to Incentive Stock Options, no adjustment or action
described in this Section 7.1 or in any other provision of the Plan shall be
authorized to the extent that such adjustment or action would cause the Plan to
violate Section 422(b)(1) of the Code or any successor provisions thereof,
unless the Committee determines that the Plan and/or the Options are not to
comply with Section 422(b)(1) of the Code.

Section 7.2                                    Options Not
Transferable.  No Option or interest or right therein or part thereof shall be
liable for the debts, contracts or engagements of the Optionee or his or her
successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, pledge, encumbrance, assignment or any other means
whether such disposition be voluntary or involuntary or by operation of law, by
judgment, levy, attachment, garnishment or any other legal or equitable
proceedings (including bankruptcy), and any attempted disposition thereof shall
be null and void and of no effect; provided, however, that nothing in
this Section 7.2 shall prevent transfers by will or by the applicable laws
of descent and distribution.

Section 7.3                                    Amendment,
Suspension or Termination of the Plan.  The Plan may be wholly or partially
amended or otherwise modified, suspended or terminated at any time or from time
to time by the Board or the Committee.  However, without stockholder
approval within 12 months before or after such action no action of the Board or
the Committee may, except as provided in Section 7.1, increase any limit
imposed in Section 2.1 on the maximum number of shares which may be issued
on exercise of Options, reduce the minimum Option price requirements of
Section 4.3(a), or extend the limit imposed in this Section 7.3 on
the period during which options may be granted.  Except as provided by
Section 7.1, neither the amendment, suspension nor termination of the Plan
shall, without the consent of the holder of the Option, materially and
adversely alter or impair any rights or obligations under any Option
theretofore granted.  No Option may be granted during any period of
suspension nor after termination of the Plan, and in no event may any Option be
granted under this Plan after the expiration of ten years from the date the
Plan is adopted by the Board.

Section 7.4                                    Effect of Plan
Upon Other Option and Compensation Plans.  The adoption of this Plan shall not
affect any other compensation or incentive plans in effect for the Company or
any Affiliate.  Nothing in this Plan shall be construed to limit the right
of the Company or any Affiliate (a) to establish any other forms of incentives
or compensation for directors or employees of the Company (or any Affiliate);
or (b) to grant or assume options otherwise than under this Plan in connection
with any proper corporate purpose, including, but not by way of limitation, the
grant or assumption of options in connection with the acquisition by purchase, lease,
merger, consolidation or otherwise, of the business, stock or assets of any
corporation, firm or association.

Section 7.5                                    Approval of Plan
by Stockholders/Effective Date of Amendments.  This Plan received approval of the
Company’s stockholders on December 22, 2004. 
This Plan was

initially adopted by the Board on December 22,
2004 and was thereafter amended on November 7, 2006 and is hereby being amended
and restated in its entirety on June 11, 2007.

Section 7.6                                    Titles.  Titles
are provided herein for convenience only and are not to serve as a basis for
interpretation or construction of the Plan.

Section 7.7                                    Conformity to
Securities Laws.  The Plan is intended to conform to the extent necessary with
all provisions of the Securities Act and the Exchange Act and any and all
regulations and rules promulgated by the Securities and Exchange Commission
thereunder to the extent the Company or any Optionee is subject to the
provisions thereof.  Notwithstanding anything herein to the contrary, the
Plan shall be administered, and Options shall be granted and may be exercised,
only in such a manner as to conform to such laws, rules and regulations. 
To the extent permitted by applicable law, the Plan and Options granted
hereunder shall be deemed amended to the extent necessary to conform to such
laws, rules and regulations.

Section 7.8                                    Governing Law.  To the
extent not preempted by federal law, the Plan shall be construed in accordance
with and governed by the laws of the state of Delaware.

Section 7.9                                    Severability.  In the
event any portion of the Plan or any action taken pursuant thereto shall be
held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of the Plan, and the Plan shall be construed and
enforced as if the illegal or invalid provisions had not been included, and the
illegal or invalid action shall be null and void.

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