Document:

Exhibit
10.4

 

THIS INSTRUMENT PREPARED BY

AND SHOULD BE RETURNED TO:

 

Peter G. Latham, Esq.

GRONEK & LATHAM, LLP

390 North Orange Avenue, Suite 600

Orlando, FL 32801

(407) 481-5800

 

 

SECOND AMENDMENT TO GROUND LEASE

 

THIS SECOND AMENDMENT TO GROUND LEASE, dated
as of February 20, 2001 (this “Second Amendment”), between UNIVERSAL CITY DEVELOPMENT PARTNERS, LP, a Delaware limited
partnership, successor by conversion to Universal City Development
Partners, a Florida general partnership and successor by merger/conversion
to Universal City Florida Partners, a
Florida general partnership (the “Landlord”), and UCF HOTEL
VENTURE, a Florida general partnership (the “Tenant”).

 

RECITALS

 

WHEREAS, Landlord and Tenant previously
entered into that certain Ground Lease dated as of June 12, 1998 (the “Ground
Lease”), together with that certain First Amendment to Ground Lease dated as of
June 12, 1998 (the “First Amendment”), as evidenced by that certain
Memorandum of Ground Lease dated as of June 12, 1998 and recorded June 26,
1998 in Official Records Book 5512, Page 3855 Public Records of Orange County,
Florida (the “Original Memorandum”, and together with the Ground Lease and the
First Amendment, collectively, the “Lease”).

 

WHEREAS, Landlord and Tenant desire to amend
the Lease to substitute tracts, and modify the legal descriptions for the Third
Hotel Site and the Primary Phase II Sites (as defined in the Lease).

 

NOW, THEREFORE, in consideration of the mutual
and reciprocal covenants herein made, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereby agree as follows:

 

1.                                       Recitals.  The Recitals as set forth above are agreed to
be true and correct and are incorporated herein by this reference.

 

2.                                       Substitution of
Leased Property.

 

a.                                       Landlord and Tenant hereby
acknowledge and agree that the legal description for that certain real property
described under Item 3 and Exhibit “D”, which was attached to, and
made a part of the Ground Lease, and under Item
3 on Exhibit “B”, which
was attached to, and made a part of the Original Memorandum, is hereby deleted
and replaced with the legal description for that certain real property more

 

 

particularly described in Exhibit “1”
attached hereto and incorporated herein by this reference (the “New Third Hotel
Site”), and the New Third Hotel Site is hereby substituted for the Third Hotel
Site in the Lease.  Any reference in the
Lease to the Third Hotel Site shall hereafter be deemed to refer to the New
Third Hotel Site.

 

b.                                      Landlord and Tenant hereby
acknowledge and agree that the legal description for that certain real property
described under Item 5 on Exhibit “D”, which was attached to, and
made a part of the Ground Lease, and under Item
5 on Exhibit “B”, which
was attached to, and made a part of the Original Memorandum is hereby deleted
and replaced with the legal description for that certain real property more
particularly described in Exhibit “2”
attached hereto and incorporated herein by this reference (the “New Primary
Phase II Sites”), and the New Primary Phase II Sites are hereby substituted for
the Primary Phase II Sites in the Lease. 
Any reference in the Lease to the Primary Phase II Sites shall hereafter
be deemed to refer to the New Primary Phase II Sites.

 

c.                                       Landlord and Tenant hereby
acknowledge and agree that the Resort Property Site Plan set forth on Exhibit “A”, which was attached to, and
made a part of the Ground Lease, is hereby deleted and replaced with the Resort
Property Site Plan more particularly set forth on Exhibit “3” attached hereto and incorporated herein by this
reference (the “New Resort Property Site Plan”).  Any reference in the Lease to the Resort
Property Site Plan shall hereafter be deemed to refer to the New Resort
Property Site Plan.

 

3.                                       Terms. 
Any term not defined herein shall have the definition ascribed to such
term in the Lease.

 

4.                                       Memorandum of
Second Amendment to Lease. Landlord and Tenant agree that this Second Amendment shall
be recorded in the Public Records of Orange County, Florida, to give notice
thereof.

 

5.                                       Continued
Effect.  Excerpt as herein modified, the
Lease is in full force and effect and each party represents and warrants to the
other that neither party is in default under the Lease and that no sate of
facts exists which, if continued, would create a default by the other party as
of the date of this Second Amendment.  In
the event of any conflict between the Lease and this Second Amendment, this
Second Amendment shall control.

 

6.                                       Joinder and
Consent of Leasehold Lender.  In accordance with
the terms and conditions of that certain Mortgage, Assignment of Leases and
Rents and Security Agreement dated June 12, 1998 and recorded June 26,
1998, in Official Records Book 5512, Page 4073; as modified and amended by that
certain Mortgage Modification Agreement dated as of August 28, 1998 and
recorded in Official Records Book 5606, Page 3037, as re-recorded in Official
Records Book 5628, Page 1976, and as further re-recorded in Official Records
Book 5725, Page 1902; and as supplemented by that certain Supplemental Mortgage
Agreement recorded November 13, 2000, in Official Records Book 6129, Page
1453, all of the Public Records of Orange County, Florida, the Chase Manhattan
Bank, as Administrative Agent, (the “Leasehold Mortgages”), hereby joins in the
execution of this Second Amendment to consent and agree to the modifications to
the Lease set forth herein.

 

7.                                       Joinder and
Consent of Fee Lender.  In accordance with the terms and
conditions of that certain Mortgage, Assignment of Leases and Rents, Security
Agreement and Fixture Filing, dated as of July 27, 2000 and recorded July 27,
2000 in Official Records Book 6054, Page 320, of the Public Records of Orange
County, Florida, Morgan Guaranty Trust Company of New York, as Collateral
Agent, (the “Fee Mortgages”), hereby joins in the execution of this Second
Amendment to consent and agree to the modifications to the Lease set forth
herein.

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, Landlord and Tenant have
executed and delivered this Modification as of the date first above written.

 

	
   

  	
   

  	
  LANDLORD:

  
	
  Signed, sealed and delivered

  	
   

  	
   

  
	
  in the presence of:

  	
   

  	
  UNIVERSAL CITY DEVELOPMENT PARTNERS,

  LP, a Delaware limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Universal City Florida Holding Co. II, a

  Florida general partnership, a general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Universal City Property

  Management Company II,
  a Florida

  general partnership, a general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Peter G. Latham

  	
   

  	
   

  	
  By:

  	
  /s/ Peter C. Giacalone

  	
   

  
	
  Printed Name: 

  	
  PETER G. LATHAM

  	
   

  	
   

  	
  Name:

  	
  PETER C. GIACALONE

  	
   

  
	
   

  	
  /s/ Karen K. Ward

  	
   

  	
   

  	
  Its:

  	
  AUTHORIZED AGENT

  	
   

  
	
  Printed Name:

  	
  Karen K.
  Ward

  	
   

  	
   

  	
   

  	
   

  	
   

  
												

 

 

STATE OF Florida

COUNTY OF Orange

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared Peter
C. Giacalone as Authorized Agent of UNIVERSAL CITY PROPERTY
MANAGEMENT COMPANY II, a general partner of UNIVERSAL
CITY FLORIDA HOLDING CO. II, a general partner of UNIVERSAL CITY DEVELOPMENT PARTNERS, LP, a Delaware limited
partnership and who ý is personally
known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said partnerships in the presence of two subscribing witnesses, freely and
voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16th day of February, 2001.

 

 

	
   

  	
  /s/ Karen K.
  Ward

  
	
   

  	
  Signature of Notary

  
	
   

  	
  Karen K.
  Ward

  	
   

  	
   

  
	
   

  	
  Commission #
  CC 982515

  	
   

  	
  Karen K.
  Ward

  
	
  [SEAL]

  	
  Expires Nov. 16, 2004

  	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Bonded Thru

  	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  Atlantic Bonding Co., Inc.

  	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
  UNIVERSAL CITY DEVELOPMENT PARTNERS,

  LP, a Delaware
  limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone UTP Capital Partners, A L.P.,
  a

  Delaware general partnership, a general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Blackstone Media Management

  Associates III, L.L.C.,  a Delaware

  limited liability company, its general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Cyndy Cesena

  	
   

  	
   

  	
  By:

  	
  /s/ David Blitzer

  	
   

  
	
  Printed Name:

  	
  Cyndy Cesena

  	
   

  	
   

  	
  Name:

  	
  David Blitzer

  	
   

  
	
   

  	
  /s/ Ruth A. Diemer

  	
   

  	
   

  	
  Its:

  	
  Member

  	
   

  
	
  Printed Name:

  	
  Ruth A. Diemer

  	
   

  	
   

  	
   

  	
   

  	
   

  
											

 

 

STATE OF New York

COUNTY OF New York

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared David
Blitzer as Member of BLACKSTONE MEDIA
MANAGEMENT ASSOCIATES III, L.L.C., a general partner of BLACKSTONE UTP CAPITAL PARTNERS, A L.P., a general partner
of UNIVERSAL CITY DEVELOPMENT PARTNERS, LP,
a Delaware limited partnership, and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said company and partnerships in the presence of two subscribing witnesses,
freely and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16 day of February, 2001.

 

 

	
   

  	
  /s/ Holly B.
  Cohen

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  Holly B.
  Cohen

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOLLY B.
  COHEN

  
	
   

  	
  NOTARY
  PUBLIC, State of New York

  
	
   

  	
  No. 01CO6003607

  
	
   

  	
  Qualified in Bronx County

  
	
   

  	
  Commission Expires March 9,
  2002

  
				

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
  UNIVERSAL CITY DEVELOPMENT PARTNERS,

  LP, a Delaware
  limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone UTP Capital Partners, L.P.,
  a

  Delaware general partnership, a general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Blackstone Media Management

  Associates III, L.L.C.,  a Delaware

  limited liability company, its general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Cyndy Cesena

  	
   

  	
   

  	
  By:

  	
  /s/ David Blitzer

  	
   

  
	
  Printed Name:

  	
  Cyndy Cesena

  	
   

  	
   

  	
  Name:

  	
  David Blitzer

  	
   

  
	
   

  	
  /s/ Ruth A. Diemer

  	
   

  	
   

  	
  Its:

  	
  Member

  	
   

  
	
  Printed Name:

  	
  Ruth A. Diemer

  	
   

  	
   

  	
   

  	
   

  	
   

  
												

 

 

STATE OF New York

COUNTY OF New York

 

I HEREBY
CERTIFY that on this day before me, an officer duly
authorized in the State and County aforesaid to take acknowledgments,
personally appeared David Blitzer as
Member of BLACKSTONE MEDIA MANAGEMENT ASSOCIATES III, L.L.C.,
a general partner of BLACKSTONE UTP CAPITAL
PARTNERS, L.P., a general partner of UNIVERSAL
CITY DEVELOPMENT PARTNERS, LP, a Delaware limited partnership and
who ý is personally known to me or o
produced                                       
as identification, and that he acknowledged executing the same on behalf of
said company and partnerships in the presence of two subscribing witnesses,
freely and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16 day of February, 2001.

 

 

	
   

  	
  /s/ Holly B.
  Cohen

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  Holly B.
  Cohen

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOLLY B.
  COHEN

  
	
   

  	
  NOTARY
  PUBLIC, State of New York

  
	
   

  	
  No. 01CO6003607

  
	
   

  	
  Qualified in Bronx County

  
	
   

  	
  Commission Expires March 9,
  2002

  
				

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
  UNIVERSAL CITY DEVELOPMENT PARTNERS,

  LP, a Delaware
  limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone UTP Offshore Capital Partners,

  L.P., a Delaware general partnership, a

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Blackstone Media Management

  Associates III, L.L.C., a Delaware

  limited liability company, its general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Cyndy Cesena

  	
   

  	
   

  	
  By:

  	
  /s/ David Blitzer

  	
   

  
	
  Printed Name:

  	
  Cyndy Cesena

  	
   

  	
   

  	
  Name:

  	
  David Blitzer

  	
   

  
	
   

  	
  /s/ Ruth A. Diemer

  	
   

  	
   

  	
  Its:

  	
  Member

  	
   

  
	
  Printed Name:

  	
  Ruth A. Diemer

  	
   

  	
   

  	
   

  	
   

  	
   

  
											

 

 

STATE OF New York

COUNTY OF New York

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared David
Blitzer as Member of BLACKSTONE MEDIA
MANAGEMENT ASSOCIATES III, L.L.C., a general partner of BLACKSTONE UTP OFFSHORE CAPITAL PARTNERS, L.P., a general
partner of UNIVERSAL CITY DEVELOPMENT PARTNERS, LP,
a Delaware limited partnership and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of said
company and partnerships in the presence of two subscribing witnesses, freely
and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16 day of February, 2001.

 

 

	
   

  	
  /s/ Holly B.
  Cohen

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  Holly B.
  Cohen

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOLLY B.
  COHEN

  
	
   

  	
  NOTARY
  PUBLIC, State of New York

  
	
   

  	
  No. 01CO6003607

  
	
   

  	
  Qualified in Bronx County

  
	
   

  	
  Commission Expires March 9,
  2002

  
				

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
  UNIVERSAL CITY DEVELOPMENT PARTNERS,

  LP, a Delaware
  limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone Family Media Partnership III,

  L.P., a Delaware general partnership, a

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Blackstone Media Management

  Associates III, L.L.C., a Delaware

  limited liability company, its general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Cyndy Cesena

  	
   

  	
   

  	
  By:

  	
  /s/ David Blitzer

  	
   

  
	
  Printed Name:

  	
  Cyndy Cesena

  	
   

  	
   

  	
  Name:

  	
  David Blitzer

  	
   

  
	
   

  	
  /s/ Ruth A. Diemer

  	
   

  	
   

  	
  Its:

  	
  Member

  	
   

  
	
  Printed Name:

  	
  Ruth A. Diemer

  	
   

  	
   

  	
   

  	
   

  	
   

  
											

 

 

STATE OF New York

COUNTY OF New York

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared David
Blitzer as Member of BLACKSTONE MEDIA
MANAGEMENT ASSOCIATES III, L.L.C., a general partner of BLACKSTONE FAMILY MEDIA PARTNERSHIP III, L.P., a general
partner of UNIVERSAL CITY DEVELOPMENT PARTNERS, LP,
a Delaware limited partnership and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said company and partnerships in the presence of two subscribing witnesses,
freely and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16 day of February, 2001.

 

 

	
   

  	
  /s/ Holly B.
  Cohen

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  Holly B.
  Cohen

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOLLY B.
  COHEN

  
	
   

  	
  NOTARY
  PUBLIC, State of New York

  
	
   

  	
  No. 01CO6003607

  
	
   

  	
  Qualified in Bronx County

  
	
   

  	
  Commission Expires March 9,
  2002

  
				

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
  UCF HOTEL VENTURE, a Florida general

  partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Loews Orlando Hotel Partner, Inc.,

  a general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Elaine C. Appollo

  	
   

  	
  By:

  	
  /s/ Vincent Danleavy

  	
   

  
	
  Printed Name:

  	
  ELAINE C. APPOLLO

  	
   

  	
  Name:

  	
  Vincent Danleavy

  	
   

  
	
   

  	
  /s/ Sandra Grant Wooten

  	
   

  	
  Its:

  	
  V.P.

  	
   

  
	
  Printed Name:

  	
  SANDRA GRANT WOOTEN

  	
   

  	
   

  	
   

  	
   

  
									

 

 

STATE OF New York

COUNTY OF New York

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared Vincent
Danleavy as Vice President of LOEWS ORLANDO HOTEL
PARTNER, INC., a general partner of UCF HOTEL
VENTURE, a Florida general partnership, and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said corporation and partnership in the presence of two subscribing witnesses,
freely and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 15 day of February, 2001.

 

	
   

  	
  /s/ Gary W.
  Garson

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  Gary W.
  Garson

  
	
   

  	
  NOTARY
  PUBLIC, State of New York

  
	
   

  	
  Qualified in New York
  County

  
	
   

  	
  Commission Expires Sept,
  30, 2001

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
				

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
  UCF HOTEL VENTURE, a Florida general

  partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Universal Rank Hotel Partners,
  a general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Rank Hotels Orlando, Inc.,
  a general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Glenda Gail Bradford

  	
   

  	
   

  	
  By:

  	
  /s/ Scott Little

  	
   

  
	
  Printed Name:

  	
  GLENDA GAIL BRADFORD

  	
   

  	
   

  	
  Name:

  	
  SCOTT LITTLE

  	
   

  
	
   

  	
  /s/ Patricia A. Tsonis

  	
   

  	
   

  	
  Its:

  	
  PRESIDENT

  	
   

  
	
  Printed Name:

  	
  PATRICIA A. TSONIS

  	
   

  	
   

  	
   

  	
   

  	
   

  
											

 

 

STATE OF Florida

COUNTY OF Orange

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared SCOTT
LITTLE as PRESIDENT of RANK HOTELS ORLANDO, INC., a general partner of UNIVERSAL RANK HOTEL PARTNERS,  a general partner of UCF HOTEL
VENTURE, a Florida general partnership and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said corporation and partnerships in the presence of two subscribing witnesses,
freely and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 22nd day of December, 2000.

 

 

	
   

  	
   

  	
  /s/ Patricia A. Tsonis

  
	
   

  	
   

  	
  Signature of Notary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  PATRICIA A. TSONIS

  
	
   

  	
  PATRICIA
  A. TSONIS

  	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
  [SEAL]

  	
  My Comm Exp. 4/17/01

  	
   

  	
  Commission Number (if not
  legible on seal):

  	
  CC622021

  
	
   

  	
  No. CC 622021

  	
   

  	
  My Commission Expires (if
  not legible on seal):

  	
  4/17/01

  
	
   

  	
  X
  Personally known [ ] Other I.D.

  	
   

  	
   

  
						

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
  UCF HOTEL VENTURE, a Florida general

  partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Universal Rank Hotel Partners,
  general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Universal Studios Hotels, Inc.,
  a

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Peter G. Latham

  	
   

  	
   

  	
  By:

  	
  /s/ Peter C. Giacalone

  	
   

  
	
  Printed Name:

  	
  PETER G. LATHAM

  	
   

  	
   

  	
  Name:

  	
  PETER C. GIACALONE

  	
   

  
	
   

  	
  /s/ Karen K. Ward

  	
   

  	
   

  	
  Its:

  	
  AUTHORIZED AGENT

  	
   

  
	
  Printed Name:

  	
  Karen K. Ward

  	
   

  	
   

  	
   

  	
   

  	
   

  
											

 

 

STATE OF Florida

COUNTY OF Orange

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared Peter
C. Giacalone as Authorized Agent of UNIVERSAL STUDIOS HOTEL,
INC., a general partner of UNIVERSAL RANK HOTEL
PARTNERS, a general partner of UCF HOTEL VENTURE,
a Florida general partnership and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said company and partnerships in the presence of two subscribing witnesses,
freely and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16th day of February, 2001.

 

 

	
   

  	
  /s/ Karen K.
  Ward

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  Karen K.
  Ward

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  Karen K.
  Ward

  	
   

  
	
   

  	
   

  	
  Commission #
  CC 982515

  	
   

  
	
   

  	
  [SEAL]

  	
  Expires Nov. 16, 2004

  	
   

  
	
   

  	
   

  	
  Bonded Thru

  	
   

  
	
   

  	
   

  	
  Atlantic Bonding Co., Inc.

  	
   

  
						

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  LEASEHOLD MORTGAGEE:

  
	
   

  	
   

  	
  THE CHASE MANHATTAN BANK, a
  New York

  banking corporation, as Administrative Agent

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Ralph Totoonchie

  	
   

  	
  By:

  	
  /s/ Marc E. Costantino

  	
   

  
	
  Printed Name:

  	
  Ralph Totoonchie

  	
   

  	
  Name:

  	
  MARC E. COSTANTINO

  	
   

  
	
   

  	
  /s/ Christina Gould

  	
   

  	
  Its:

  	
  VICE PRESIDENT

  	
   

  
	
  Printed Name:

  	
  CHRISTINA GOULD

  	
   

  	
   

  	
   

  	
   

  
										

 

 

STATE OF New York

COUNTY OF Kings

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared Marc
E. Costantino as Vice President of THE CHASE MANHATTAN BANK,
a New York banking corporation, and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said banking corporation in the presence of two subscribing witnesses, freely
and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 16th day of February, 2001.

 

 

	
   

  	
  /s/ Marian
  Zai

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  MARIAN ZAI

  
	
   

  	
  Notary
  Public, State of New York

  
	
   

  	
  No. 31 4888037

  
	
   

  	
  Qualified in Kings County

  
	
   

  	
  Term Expires March 30, 2001

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
   

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
				

 

 

	
  Signed, sealed and delivered in

  the presence of:

  	
   

  	
  FEE MORTGAGEE:

   

  
	
   

  	
   

  	
  MORGAN GUARANTY TRUST COMPANY OF NEW

  YORK, a New York banking corporation, as

  Collateral Agent 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Norma A. Toth

  	
   

  	
  By:

  	
  /s/ Joseph F. Murray

  	
   

  
	
  Printed Name:

  	
  Norma A. Toth

  	
   

  	
  Name:

  	
  Joseph F. Murray

  	
   

  
	
   

  	
  /s/ Ruth Hass

  	
   

  	
  Its:

  	
  Vice President

  	
   

  
	
  Printed Name:

  	
  Ruth Hass

  	
   

  	
   

  	
   

  	
   

  
									

 

 

STATE OF New York

COUNTY OF New York

 

I HEREBY CERTIFY that on this day before me,
an officer duly authorized in the State and County aforesaid to take
acknowledgments, personally appeared JOSEPH
F. MURRAY as VICE PRESIDENT
of MORGAN GUARANTY TRUST COMPANY OF NEW YORK,
a New York banking corporation, and who ý
is personally known to me or o produced                                       
as identification, and that he acknowledged executing the same on behalf of
said banking corporation in the presence of two subscribing witnesses, freely
and voluntarily, for the uses and purposes therein expressed.

 

WITNESS my hand and official seal in the
County and State last aforesaid this 15th day of February, 2001.

 

	
   

  	
  /s/ Richard
  Karkada

  
	
   

  	
  Signature of Notary

  
	
   

  	
   

  
	
   

  	
  RICHARD
  KARKADA

  
	
   

  	
  Notary
  Public, State of New York

  
	
   

  	
  No. 01KA8029845

  
	
   

  	
  Qualified in Richmond
  County

  
	
   

  	
  Term Expires August 30,
  2001

  
	
   

  	
  Name of Notary (Typed, Printed or Stamped)

  
	
   

  	
   

  
	
   

  	
  Commission Number (if not legible on seal):

  	
   

  
	
   

  	
  My Commission Expires (if not legible on seal):

  	
   

  
				

 

 

Exhibit “1”

 

New Third Hotel Site

 

HOTEL SITE C

 

That part of Lot 2A and that
part of Tract D, UNIVERSAL CITY FLORIDA, according to the plat thereof, as
recorded in Plat Book 35, Pages 84 through 87, of the Public Records of Orange
County, Florida, described as follows:

 

Begin
at the Southernmost corner of said Tract D; thence run S 48°10’00” W along the
South line of said Lot 2A for a distance of 1270.11 feet; thence leaving said
Southerly line of Lot 2A run N 29° 08’15” W for a distance of 565.30 feet;
thence run N 77° 25’12” E for a distance of 142.24 feet; thence run N 12°34’48”
W for a distance of 320.00 feet; thence run N 77° 25’12” E for a distance of
86.06 feet; thence run N 12°34’48” W for a distance of 652.39 feet; thence run
N 04°32’39” W for a distance of 182.33 feet; thence run N 11°57’24” W for a
distance of 136.26 feet; thence run N 24°16’38” W for a distance of 75.11 feet
to a point on the Northerly line of said Lot 2A, said point also being a point
on a non-tangent curve concave Northwesterly having a radius of 2080.00 feet
and a chord bearing of N 49°28’25” E; thence run the following 3 courses and
distances along said Northerly line: thence run Northeasterly along the arc of
said curve through a central angle of 22°08’02” for a distance of 803.52 feet
to the point of reverse curvature of a curve concave Southeasterly having a
radius of 1020.00 feet; thence run Northeasterly along the arc of said curve
through a central angle of 52°36’17” for a distance of 936 feet to the point of
compound curvature of a curve concave Southwesterly having a radius of 40.00
feet; thence run Southeasterly along the arc of said curve through a central
angle of 96°22’07” for a distance of 67.28 feet to a point on the East line of
said Lot 2A, said point also being the point of reverse curvature of a curve
concave Southwesterly having a radius of 2663.00 feet; thence run Southerly
along the arc of said curve and the East line of said Lot 2 through a central
angle of 05°56’38” for a distance of 276.26 feet to the point of tangency,
thence run S 01°26’10” W along said East line for a distance of 398.87 feet to
the Northernmost corner of said Tract D; thence run S 38°17’48” W along the
Easterly line of said Lot 2A for a distance of 54.65 feet to a point on a
non-tangent curve concave Northwesterly having a radius of 425.00 feet and a
chord bearing of S 23°22’10” W; thence run Southwesterly along the arc of said
curve through a central angle of 44°20’24” for a distance of 328.90 feet to the
point of tangency, thence run S 45°32’22” W for a distance of 400.68 feet to
the point of curvature of a curve concave Northeasterly having a radius of
315.00 feet; thence run Southeasterly along the arc of said curve through a
central angle of 147°28’01” for a distance of 810.74 feet to a non-tangent
line; thence run S11°54’32” E for a distance of 65.22 feet to the POINT OF
BEGINNING.

 

 

Exhibit “2”

 

New Primary Phase II Sites

 

HOTEL SITE E

 

Lot
1, ROYAL PACIFIC RESORT, according to the Plat thereof as recorded in Plat Book
43, Pages 142 through 144, Public Records of Orange County, Florida.

 

Also
described as:

 

That
part of Lot 3A, UNIVERSAL CITY FLORIDA, as recorded in Plat Book 35, Pages 84
through 87, of the Public Records of Orange County, Florida, described as
follows:

 

Begin at the Northwest corner of said Lot 3A, said
point being the point of curvature of a curve concave Southeasterly having a
radius of 40.00 feet; thence run the following 5 courses along the North line
of said Lot 3A; thence run Northeasterly along the arc of said curve through a
central angle of 89 degrees 42 minutes 19 seconds for a distance of 62.63 feet
to the point of tangency; thence run North 89 degrees 20 minutes 30 seconds
East for a distance of 455.74 feet; thence run South 86 degrees 42 minutes 13
seconds East for a distance of 174.00 feet to a point on a non-tangent curve
concave Northerly having a radius of 2080.00 feet and a chord bearing of North
88 degrees 14 minutes of 17 seconds East; thence run Easterly along the arc of
said curve through a central angle of 02 degrees 12 minutes 25 seconds for a
distance of 80.12 feet to the point of reverse curvature of a curve concave Southwesterly
having a radius of 40.00 feet; thence run Southeasterly along the arc of said
curve through a central angle of 90 degrees 14 minutes 24 seconds for a distance
of 63.00 feet to the point of tangency, point being on the Easterly line of
said Lot 3A; thence run the following 10 courses along said Easterly line;
thence run South 02 degrees 37 minutes 31 seconds East for a distance of 752.34
feet to the point of curvature of a curve concave Northeasterly having a radius
of 1093.13 feet; thence run Southeasterly along the arc of said curve through a
central angle of 33 degrees 17 minutes 23 seconds for a distance of 645.13 feet
to the point of tangency; thence run South 35 degrees 54 minutes 52 seconds
East for a distance of 202.93 feet; thence run South 54 degrees 05 minutes 06
seconds West for a distance of 0.20 feet; thence run South 35 degrees 54
minutes 51 seconds East for a distance of 311.88 feet to the point of curvature
of a curve concave Westerly having a radius of 344.10 feet and a chord bearing
of South 06 degrees 07 minutes 34 seconds West; thence run Southwesterly along
the arc of said curve through a central angle of 84 degrees 04 minutes 52
seconds for a distance of 504.96 feet to a point of a non-tangency; thence run
South 41 degrees 50 minutes 00 seconds East for a distance of 2.00 feet; thence
run South 48 degrees 10 minutes 00 seconds West for a distance of 390.74 feet
to the point of curvature of a curve concave Southeasterly having a radius of
3024.00 feet; thence run Southwesterly along the arc of said curve through a
central angle of 17 degrees 18 minutes 13 seconds for a distance of 913.26 feet
to a point on a non-tangent curve concave Southeasterly having a radius of
2564.57 feet and a chord bearing of South 33 degrees 15 minutes 57 seconds
West; thence run Southwesterly along the arc of said curve through a central
angle of 03 degrees 13 minutes 13 seconds for a distance of 144.14 feet to a point
of non-tangency; thence run South 90 degrees 00 minutes 00 seconds West for a
distance of 341.79 feet to a point on the Westerly line of said Lot 3A; thence
run the following 4 courses along said West line; thence run North 00 degrees
00 minutes 21 seconds West for a distance of 217.80 feet; thence run North 04
degrees 15 minutes 47 seconds East for a distance of 210.61 feet; thence run
North 00 degrees 05 minutes 39 seconds West for a distance of 1569.81 feet;
thence run North 00 degrees 21 minutes 49 seconds West for a distance of
1305.02 feet to the POINT OF BEGINNING.

 

 

Exhibit “2”

 

New Primary Phase II Sites

 

Together with:

 

HOTEL SITE D

 

That
part of Lot 2A, UNIVERSAL CITY FLORIDA, according to the plat thereof, as
recorded in Plat Book 35, Pages 84 through 87, of the Public Records of Orange
County, Florida, lying West of the following described line:

 

Commence at the Southernmost corner of said Lot 2A;
thence run N 48°10’00” E along the Southerly line of said Lot 2A for a distance
of 142.59 feet to the POINT OF BEGINNING; thence leaving said Southerly line
run N 29°08’15” W for a distance of 565.30 feet; thence run N 77°25’12” E for a
distance of 142.24 feet; thence run N 12°34’48” W for a distance of 320.00
feet; thence run N 77°25’12” E for a distance of 86.06 feet; thence run N 12°34’48”
W for a distance of 652.39 feet; thence run N 04°32’39” W for a distance of
182.33 feet; thence run N 11°57’24” W for a distance of 136.26 feet; thence run
N 24°16’38” W for a distance of 75.11 feet to the Northerly line of said Lot 2A
and the POINT OF TERMINATION of this line.Exhibit
10.8

 

As of December 7, 1999

 

Mr. John Sprouls

1000 Universal Studios
Plaza

Universal Studios, Inc.

Orlando, FL 32819

 

Dear Mr. Sprouls:

 

Universal Studios, Inc. (“Universal”
or the “Company”) agrees to employ you and you agree to accept employment upon
the terms and conditions set forth in this agreement (the “Agreement”).

 

1.             Term.      The
term of this Agreement will commence on December 7, 1999 and continue
until December 6, 2002, unless earlier terminated pursuant to the provisions of
Paragraph 4 or unless extended pursuant to subparagraph (a) below (the “Term”).

 

(a)           Option.   Universal
will have the following irrevocable option, exercisable at its sole discretion,
to extend the Term, commencing upon the expiration of the preceding Term, upon
all the same terms and conditions as during such preceding Term.  Such option is exercisable by written notice
given not later than sixty (60) days prior to the expiration of the Term
preceding that for which such option is exercised:

 

(i)            a
period of two (2) years commencing on December 7, 2002 and continuing until
December 6, 2004.

 

You agree and acknowledge
that Universal has no obligation to extend the Term or to continue your
employment after expiration of the Term, and you expressly acknowledge that no
promises or understandings to the contrary have been made or reached.  You also agree and acknowledge that, should
Universal choose to continue your employment for any period of time following
the expiration of the Term (including any extensions thereof), your employment
with Universal will be “at will;” in other words, during any time following the
expiration of the Term, Universal may terminate your employment at any time,
with or without reason and with or without notice, and you may resign at any
time, with or without reason and with or without notice.

 

2.             Duties.  You agree to be employed and perform your
exclusive services for the Company or one of its affiliates upon the terms and
conditions of this Agreement.  You will
commence your services hereunder as Executive Vice President, Human Resources
for Universal Studios Recreation Group and you will perform the services
requested from time to time by the Board of Directors of Universal (the “Board”)
or its duly authorized officers. You will not be required, without your
consent, to perform your primary duties under this Agreement in a location
other than in Orlando, Florida, except for required travel on Universal’s
business.

 

	
  JRS

  	
   

  
	
  Initials of employee

  	
   

  

 

1

 

3.             Compensation
and Related Matters.

 

(a)           Base
Salary.  For all services rendered
under this Agreement, commencing December 7, 1999, Universal will pay you base
salary at an annual rate of Two Hundred Sixty Thousand and 00/100 Dollars
($260,000.00), payable in accordance with Universal’s applicable payroll
practices (“Base Salary”).  Any higher
Base Salary paid to you subsequently will be deemed the annual rate for the
purposes of this Agreement and will commence on the date determined by the
Board or its duly authorized officers.

 

Universal is not
obligated to actually utilize your services, and payment as described in
Paragraphs 4(a) and 4(c) will discharge the Company’s obligation under this
Agreement.

 

(b)           Bonus
Compensation.  You will be eligible
to participate at a level appropriate to your position in Universal’s Annual
Incentive Plan or any plan adopted in replacement thereof as determined by the
Board of Directors of Universal and in accordance with the plan’s terms and
conditions.

 

(c)           Long
Term Incentive Plan.  You will be
eligible to participate at a level appropriate to your position in The Seagram
Company Ltd. Stock Incentive Plan or any plan adopted in replacement thereof as
determined by the Board of Directors of Joseph E. Seagram & Sons, Inc. and in
accordance with the plan’s terms and conditions.

 

(d)           Benefits.  You will be entitled to participate in the
benefit plans generally available to employees of Universal so long as the
Company provides such plans and programs and subject to their terms and
conditions, except that you will not participate in any severance plan of
Universal.  Instead, subject to the
requirements of this Paragraph, upon an involuntary termination of employment,
as described in Paragraph 4(c), you will receive the greater of (i) the amounts
payable pursuant to Paragraph 4(c) or (ii) the basic amounts payable pursuant
to the Company’s severance plan or policy. 
If the amount described in clause (ii) above is greater than the amount
described in clause (i) above, you will receive, in exchange for a release
acceptable to the Company, a lump sum payment calculated by the Company in its
sole discretion equal to the difference between the amounts described in
clauses (i) and (ii) of the previous sentence. 
You will receive this lump sum payment as soon as practical after the
release has been fully executed by you and the Company. In addition, you will
be entitled to participate in the Universal Officers Supplemental Plan and the
Executive Auto Allowance Program on the same terms and conditions and only so
long as Universal provides such plans and programs and in accordance with the
plan’s terms and conditions.

 

(e)           Expense
Reimbursements.  During your
employment, Universal will reimburse you for your reasonable and necessary
business expenses in accordance with its then prevailing policy for similarly
situated employees (which will include appropriate itemization and
substantiation of expenses incurred).

 

(f)            Withholding.  The Company may withhold from any amounts
payable under this Agreement such federal, state or local taxes as will

 

2

 

be required to be withheld pursuant to any applicable laws or
regulation.

 

4.             Compensation
Upon Certain Termination Events.

 

(a)           Compensation
Payable.  Should your employment with
Universal terminate, you will be entitled to the amounts and benefits shown on
the following table, subject to Paragraphs 4(b) through 4(e).  In the event of such termination, and except
for payments noted in this Paragraph 4, Universal will have no further
obligations to you under this Agreement.

 

 

	
  Termination 

  For Cause

  	
   

  	
  Involuntary 

  Termination

  	
   

  	
  Disability

  	
   

  	
  Death

  
	
  Payment of (1) any
  accrued but unpaid Base Salary due you through termination, and (2) other
  unpaid amounts then due you under Company benefit plans or programs.

  	
   

  	
  Same as for termination
  for Cause except that your Base Salary and benefits (other than benefits
  provided under (1) any plan qualified under Section 401(a) of the Internal
  Revenue Code, (2) any nonqualified pension plan and (3) any stock or
  incentive based plan) will also continue through the expiration of the Term,
  provided you meet the requirements in Paragraph 5 and subject to the terms
  and conditions of each benefit plan.

  	
   

  	
  Your Base Salary will
  continue until the earliest of (1) the 180th day following the
  start of your disability absence, or (2) your death and will be reduced by
  other Company-provided disability benefits available to you. Payment of (1)
  any accrued but unpaid Base Salary due you through termination, and (2) other
  unpaid amounts then due you under Company benefit plans or programs.

  	
   

  	
  Payment of (1) any
  accrued but unpaid Base Salary due you through your date of death, and (2)
  other unpaid amounts then due you under Company benefit plans or programs,
  except that those payments will be made to your estate or legal
  representative, and your death benefits payable due to your death under
  Company employee benefit plans or programs will also be paid.

  

 

(b)           Termination
for Cause.  The Company may terminate
your employment for cause at any time without advance notice.  “Cause” will include, but not be limited to:

 

3

 

(i)            your
material failure to perform your duties or your material breach of the terms of
this Agreement;

 

(ii)           your
material failure to comply with Company policies, including, without limitation
those set forth in the Policies and Procedures for Worldwide Business Conduct
of The Seagram Company Ltd. and Affiliates and the Universal Discrimination and
Sexual Harassment Policy, copies of which are attached as Schedule 1 to this
Agreement; or

 

(iii)          your
conviction of a felony or crime of moral turpitude.

 

(c)           Involuntary
Termination.  Universal may terminate
your employment other than for Cause or on account of Disability, as defined in
Paragraph 4(d), in which case you will receive continuation of Base Salary and
benefits as specified in Paragraph 4(a); provided the Company will retain a
right of offset against the amounts payable to you under this Paragraph and
will be entitled to reduce the amount of any compensation and benefits payable
to you under this Agreement by the amount of compensation and benefits of any
kind earned or received by you from any third party from the date of
termination through the end of the payment term pursuant to this
Paragraph.  You agree that you will have
no rights or remedies in the event of your termination without Cause other than
those set forth in this Agreement.

 

(d)           Termination
for Disability.  The Company may terminate
your employment on account of a Disability and the payments required by
Paragraph 4(a) will be made.  You will be
deemed to have a “Disability” if you are incapacitated by a physical or mental
condition, illness or injury which has prevented you from being able to perform
the essential duties of your position under this Agreement in a satisfactory
fashion for all of a consecutive 180-day period.

 

(e)           Death.  If you die while employed under this
Agreement, the payments required by Paragraph 4(a) will be made.

 

5.             Covenants.

 

(a)           Acknowledgment.  You acknowledge that you currently possess or
will acquire secret, confidential, or proprietary information or trade secrets
concerning the operations, future plans, or business methods of the Company or
its affiliates.  You agree that the
Company would be severely damaged if you misused or disclosed this
information.  To prevent this harm, you
are making the promises set forth in this Paragraph.  You acknowledge that the provisions of this
Paragraph are reasonable and necessary to protect the legitimate interests of
the Company and that any violation of such provisions would result in
irreparable injury to the Company.  In
the event of a violation of the provisions of this Paragraph, you further agree
that the Company will, in addition to all other remedies available to it, be
entitled to seek equitable relief by way of injunction and any other legal or
equitable remedies.

 

(b)           Promise
Not to Disclose.  You will hold in a
fiduciary capacity, for the benefit of the Company, all confidential or
proprietary information, knowledge and data of the Company which you may
acquire,

 

4

 

learn,
obtain or develop during your employment by the Company.  Further, you will not, during the Term or at
any time thereafter, directly or indirectly use, communicate or divulge for
your own benefit or for the benefit of another any such information, knowledge
or data other than (i) as required by the Company or (ii) as required by law or
as ordered by a court or (iii) with respect to matters that are generally known
to the public.  You make the same
commitments with respect to the secret, confidential or proprietary
information, knowledge and data of affiliates, customers, contractors and
others with whom the Company has a business relationship or to whom the Company
or its affiliates owe a duty of confidentiality.  The information covered by this protection
includes, but is not limited to, matters of a business or strategic nature such
as information about costs and profits, projections, personnel information,
reengineering, records, customer lists, contact persons, customer data,
software, sales data, possible new business ventures and/or expansion plans or
matters of a creative nature, including without limitation, matters regarding
ideas of a literary, creative, musical or dramatic nature, or regarding any
form of product produced, distributed or acquired by the Company (“Company
Information”).  Company Information will
be considered and kept as the private, proprietary and confidential information
of the Company except within the Company as required to perform services, and
may not be divulged (A) without the express written authorization of the
Company or (B) unless required by law or ordered by a court or (C) unless the
Company Information is generally known to the public.  You further agree that you will neither
publicly disclose the terms of this Agreement nor publicly discuss the Company
in a manner that tends to portray the Company in an unfavorable light.

 

(c)           Promise
Not to Engage In Certain Activities. 
You will not at any time during your employment by the Company or the
period of payment pursuant to Paragraph 4 be or become (i) interested or
engaged in any manner, directly or indirectly, either alone or with any person,
firm or corporation now existing or hereafter created, in any business which is
or may be competitive with the business of the Company and its affiliates or
(ii) directly or indirectly a stockholder or officer, director, agent,
consultant or employee of, or in any manner associated with, or aid or abet, or
give information or financial assistance to, any such business.  The provisions of this Paragraph will not be
deemed to prohibit your purchase or ownership, as a passive investment, of not
more than five percent (5%) of the outstanding capital stock of any corporation
whose stock is publicly traded.

 

(d)           Promise
to Return Property.  All records,
files, lists, drawings, documents, models, equipment, property, computer,
software or intellectual property relating to the Company’s business in
whatever form (including electronic) will be returned to the Company upon the
termination of your employment, whether such termination is at your or the
Company’s request.

 

(e)           Promise
Not to Solicit.  You will not during
(i) the period of your employment by the Company, (ii) the period of payment
pursuant to Paragraph 4 or (iii) the period ending one (1) year after the later
of the periods described in the previous clauses (i) or (ii) induce or attempt
to induce any employees, consultants, contractors or representatives of the
Company (or those of any of its affiliates) to stop working for, contracting
with or representing the Company or any of

 

5

 

 its affiliates or to work for,
contract with or represent any of the Company’s (or its affiliates’)
competitors.

 

(f)            Universal
Ownership.  The results and proceeds
of your services hereunder, including, without limitation, any works of authorship
resulting from your services during your employment with Universal and/or any
of Universal’s affiliates and any works in progress, will be works-made-for
hire and Universal will be deemed the sole owner throughout the universe of any
and all rights of whatsoever nature therein, whether or not now or hereafter
known, existing, contemplated, recognized or developed, with the right to use
the same in perpetuity in any manner Universal determines in its sole
discretion without any further payment to you whatsoever.  If, for any reason, any of such results and
proceeds will not legally be a work-for-hire and/or there are any rights which
do not accrue to Universal under the preceding sentence, then you hereby irrevocably
assign and agree to assign any and all of your right, title and interest
thereto, including, without limitation, any and all copyrights, patents, trade
secrets, trademarks and/or other rights of whatsoever nature therein, whether
or not now or hereafter known, existing, contemplated, recognized or developed,
to Universal, and Universal will have the right to use the same in perpetuity
throughout the universe in any manner Universal determines without any further
payment to you whatsoever.  You will, from
time to time, as may be requested by Universal, do any and all things which
Universal may deem useful or desirable to establish or document Universal’s
exclusive ownership of any and all rights in any such results and proceeds,
including, without limitation, the execution of appropriate copyright and/or
patent applications or assignments.  To
the extent you have any rights in the results and proceeds of your services
that cannot be assigned in the manner described above, you unconditionally and
irrevocably waive the enforcement of such rights.  This Paragraph is subject to and will not be
deemed to limit, restrict, or constitute any waiver by Universal of any rights
of ownership to which Universal may be entitled by operation of law by virtue
of Universal being your employer.

 

(g)           Prior
Restrictions.  You represent that you
are free to enter into this Agreement and are not restricted in any manner from
performing under this Agreement by any prior agreement, commitment, or
understanding with any third party.  If
you have acquired confidential or proprietary information in the course of your
prior employment or as a consultant, you will fully comply with any duties not
to disclose such information then applicable to you during the Term.

 

6.             Services
Unique.  You recognize that your
services hereunder are of a special, unique, unusual, extraordinary and
intellectual character, giving them a peculiar value, the loss of which the
Company cannot be reasonably or adequately compensated for in damages.  In the event of a breach of this Agreement by
you (particularly, but without limitation, with respect to the provisions
hereof relating to the exclusivity of your services), the Company will, in
addition to all other remedies available to it, be entitled to seek equitable
relief by way of injunction and any other legal or equitable remedies.  This provision will not be construed as a
waiver of the rights which the Company may have for damages under this
Agreement or otherwise, and all of the Company’s rights and remedies will be
unrestricted.

 

6

 

7.             Notices.  All notices and other communications
hereunder will be in writing and will be given by hand delivery to the other
party or by registered or certified mail, return receipt requested, postage
prepaid, addressed as follows:

 

If to Employee:

 

At the address indicated
on the first page hereof.

 

If to Universal:

 

Universal Studios, Inc. 

100 Universal City Plaza 

Universal City, California 91608

Attention:  Senior Vice President, Human
Resources

 

or to such other address
as either party will have furnished to the other in writing.  Notice and communications will be effective
when actually received by the addressee.

 

8.             Assignment/Affiliated
Corporations.  Universal will have
the right to assign this Agreement to any affiliate or successor of
Universal.  You acknowledge and agree
that all of your covenants and obligations to Universal, as well as the rights
of Universal hereunder, will run in favor of and will be enforceable by
Universal, its affiliates and their successors.

 

9.             Arbitration
of Disputes.

 

(a)           Arbitrable
Disputes.  You agree to use final and
binding arbitration to resolve any dispute (an “Arbitrable Dispute”) you may
have with the Company or any affiliate. 
This arbitration agreement applies to all matters relating to this
Agreement, your employment with and/or termination from Universal,
including  disputes about the validity,
interpretation, or effect of this Agreement, or alleged violations of it, and
further including all claims arising out of any alleged discrimination,
harassment, retaliation, including, but not limited to those covered by the
California Fair Employment and Housing Act (or similar state statute), the 1964
Civil Rights Act, 42 U.S.C. Section 2000e et seq., the Federal Age
Discrimination in Employment Act, the Americans With Disabilities Act and the
Family and Medical Leave Act of 1993.

 

(b)           Injunctive
Relief.  Notwithstanding Paragraph
9(a), due to the irreparable harm that would result from an actual or
threatened violation of Paragraph 5 that involves disclosure or use of
confidential information, trade secrets, or competition with the Company and
Paragraphs 2 and 6 that involve exclusivity of your services with Universal,
you agree that the Company may seek an injunction prohibiting you from
committing such a violation.

 

(c)           The
Arbitration.  Arbitration will take
place in Orlando, Florida before a single experienced employment arbitrator
licensed to practice law in Florida and selected in accordance with the
Employment Dispute Resolution Rules of the American Arbitration
Association.  The arbitrator may not
modify or change this Agreement in any way.

 

7

 

(d)           Fees
and Expenses.  Each party will pay
the fees of their respective attorneys, the expenses of their witnesses, and
any other expenses connected with the arbitration, but all other costs of the
arbitration, including the fees of the arbitrator, cost of any record or
transcript of the arbitration, administrative fees, and other fees and costs
will be paid in equal shares by the Company and you.

 

(e)           Exclusive
Forum.  Arbitration in this manner
will be the exclusive forum for any Arbitrable Dispute.  Should you or the Company attempt to resolve
an Arbitrable Dispute by any method other than arbitration pursuant to this
Paragraph, the responding party will be entitled to recover from the initiating
party all damages, expenses, and attorneys’ fees incurred as a result of that
breach.

 

10.           Miscellaneous.  No provisions of this Agreement may be
amended, modified, waived, or discharged except by a written document signed by
you and a duly authorized officer of the Company.  A waiver of any conditions or provisions of
this Agreement in a given instance will not be deemed a waiver of such conditions
or provisions at any other time.  The
validity, interpretation, construction, and performance of this Agreement will
be governed by the laws of the State of Florida without regard to its conflicts
of law principles.  This Agreement will
be binding upon, and will inure to the benefit of, you and your estate and the
Company and any successor thereto, but neither this Agreement nor any rights
arising under it may be assigned or pledged by you.

 

11.           Validity.  The invalidity or unenforceability of any provisions
of this Agreement will not affect the validity or enforceability of any other
provisions of this Agreement, which will remain in full force and effect.

 

12.           Counterparts.  This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original, but all of which
together will constitute the same instrument.

 

13.           Entire
Agreement.  This Agreement sets forth
the entire understanding between us; all oral or written agreements or
representations, express or implied, with respect to the subject matter of this
Agreement are set forth in this Agreement. 
All prior employment agreements, understandings and obligations (whether
written, oral, express or implied) between us, if any, are terminated as of the
commencement date of the Term and are superseded by this Agreement.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  UNIVERSAL STUDIOS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth Kahrs

  	
   

  
	
   

  	
   

  	
  Name :

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
  ACCEPTED AND AGREED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ John R. Sprouls

  	
   

  	
   

  
	
  JOHN SPROULS

  	
   

  
							

 

8

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