Document:

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                                 ZENASCENT, INC.
                         10 WEST 33RD STREET, SUITE 705
                            NEW YORK, NEW YORK 10001

April 24, 2002

Adam Goldberg
330 16th Street
Brooklyn, New York 11215

Dear Adam:

         This Letter will confirm our agreement and understanding concerning the
option grant issued to you in consideration of your efforts in connection with
the structuring and negotiation of the transactions contemplated by the Amended
and Restated Agreement and Plan of Merger, dated as of February 21, 2002, by and
among Zenascent, Inc., a Delaware corporation ("Zenascent"), Zenascent Newco
Inc., a Delaware corporation, Cedric Kushner Boxing, Inc., a Delaware
corporation ("Boxing"), Cedric Kushner Promotions, Ltd., a New York corporation,
Cedric Kushner and James DiLorenzo (the "Merger Agreement"). Capitalized terms
used herein without definition shall have the respective meanings set forth in
the Merger Agreement.

         1. Severance Option. Zenascent has granted and delivered to you an
option (the "Severance Option") to purchase from Zenascent forty-nine thousand
(49,000) shares of Zenascent's common stock, $0.01 par value per share. The
Severance Option was issued pursuant to the terms of that certain nonqualified
stock option grant certificate, dated as of February 21, 2002 (the "Grant
Certificate"), which Grant Certificate includes the following terms and
provisions: (a) all of the shares underlying the Severance Option shall vest on
February 21, 2003, (b) the exercise price for the shares underlying the
Severance Option shall be $1.43, and (c) the shares underlying the Severance
Option shall be unregistered with piggyback registration and shall contain a
cashless exercise provision. You hereby acknowledge your prior receipt of the
Grant Certificate and the associated Severance Option.

         2. Resignation. I hereby resign as a director of, and from any and all
offices/positions which I hold in Zenascent, subject to and effective upon the
merger of Newco with and into Boxing.

         3. Entire Agreement; Modification. This Letter, together with the
Merger Agreement, contains the entire agreement, and supersedes all prior
agreements and understandings, oral or written, between the parties hereto with
respect to the subject matter hereof. This Letter may not be changed, modified,
extended or terminated except upon written amendment duly approved in writing by
each of the parties hereto.

         4. Severability. If any term, provision, covenant or restriction of
this Letter is held by a court of competent jurisdiction or other authority to
be invalid, void,

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unenforceable or against its regulatory policy, the remainder of this Letter
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated.

         5. Binding Effect; Assignment. This Letter shall inure to the benefit
of, and shall be binding upon, the parties hereto and their respective
successors, permitted assigns, heirs and legal representatives. The rights and
obligations of a party hereunder may not be transferred or assigned.

         6. Choice of Law; Jurisdiction. All questions pertaining to the
validity, construction, execution and performance of this Letter shall be
governed by and construed in accordance with the laws of the State of New York
without regard to the conflicts of laws provisions thereof. The parties hereby
submit to the exclusive jurisdiction of the United States District Court for the
Southern District of New York or, if jurisdiction in such court is lacking, the
courts of the State of New York sitting in New York County (as well as all
appropriate appellate courts), in connection with the adjudication of any
controversy or claim arising from, out of or relating to, this Letter or the
breach hereof.

         7. Counterparts. This Letter may be executed in counterparts, each of
which shall be deemed to be an original and all of which together shall
constitute one and the same instrument.

                        [Signatures follow on next page]

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         If this Letter correctly sets forth our understanding with respect to
the subject matter addressed herein, please execute this Letter in the space
provided below, whereupon it shall become a binding agreement between us.

                                       Very truly yours,

                                       ZENASCENT, INC.

                                       By:
                                          -----------------------------------
                                          Name:
                                          Title:

Agreed to and accepted as of the date first written above.

-----------------------------------
ADAM GOLDBERG<PAGE>

                                                                  ZENASCENT INC.

                                January 30, 2002

         Re:  Consulting Agreement/Payment Agreement

Dear Richard:

         This letter will act as written confirmation that the Consulting
Agreement and payment Agreement between Zenascent, Inc. and Investor Relations
Services, Inc. and Summit Trading Limited (respectively) has been canceled by
the parties and that no payment is currently due and owing to either Investor
Relations Services, Inc. or Summit Trading Limited. As per our subsequent
agreement, it is contemplated that a new agreement will be entered into between
Zenascent, Inc. and Investor Relations Services, Inc. and Summit Trading
Limited; as per our recent meeting, the specifics of a proposed new agreement
will be discussed in connection with the finalization of the revised merger
agreement between Zenascent and Cedric Kushner Promotions/Cedric Kushner Boxing.

                                            Very truly yours,

                                            /s/ STEVEN B. ANGEL
                                            Steven B. Angel
                                            Vice President

AGREED AND ACCEPTED

/s/ RICHARD J. FIXARIS
Richard J. Fixaris
Investor Relations Services

/s/ RICHARD J. FIXARIS
Name: ATTY-IN-FACT
Summit Trading Limited<PAGE>

                                                                  ZENASCENT INC.
August  , 2001

To Whom It May Concern:

The following are the 3 Consultants hired by Zenascent in accordance with the
CKP merger and the Compensation owed to them respectively. They were an
important piece of bringing this deal together and keeping the parties
interested over the course of the negotiating period. There will be no further
compensation of any sort owed to the parties listed below by Zenascent.

Buffalo Consultants, LLC
32 Rainbow Ridge Drive
Livingston, NJ  07033
400,000 shares of Common Stock
Piggy Back Rights

                                       By:
                                          --------------------------------------
                                          Buffalo Consultants, LLC

                                       By:
                                          --------------------------------------
                                          Zenascent, Inc.

Sheldan Consulting LLC
110 West View Road
Short Hills, NJ  07078
400,000 shares of Common Stock
Piggy Back Rights
                                       By:
                                          --------------------------------------
                                          Sheldan Consulting, LLC

                                       By:
                                          --------------------------------------
                                          Zenascent, Inc.

CMR Capital Group, LLC
110 West View Road
Short Hills, NJ  07078
200,000 shares of Common Stock
$44,000
Piggy Back Rights
                                       By:
                                          --------------------------------------
                                          CMR Capital Group, LLC

                                       By:
                                          --------------------------------------
                                          Zenascent, Inc.<PAGE>

                       NOTE AND WARRANT PURCHASE AGREEMENT

         THIS NOTE AND WARRANT PURCHASE AGREEMENT (this "AGREEMENT") is made as
of the __ day of March, 2002 (the "EFFECTIVE DATE") by and among ZENASCENT,
INC., a Delaware corporation (the "COMPANY"), and [Purchaser] (the "PURCHASER").

                                    RECITALS

         WHEREAS, on March __, 2002, the Company became the parent of Cedric
Kushner Boxing, Inc ("BOXING") in accordance with the Amended and Restated
Agreement and Plan of Merger, dated as of February 21, 2002 (the "MERGER
AGREEMENT"), by and among the Company, Zenascent Newco Inc., Boxing, Cedric
Kushner Promotions, Ltd., Cedric Kushner and James DiLorenzo;

         WHEREAS, as a result of the consummation of the transactions
contemplated by the Merger Agreement, the Company is engaged in the business of
boxing promotion and the acquisition, adaptation, selling, licensing and
marketing of boxing-related programming;

         WHEREAS, the Company is in the process of organizing a private
placement of its equity securities pursuant to which the Company will seek to
raise a minimum of $700,000 and a maximum of $2.5 million (the "PRIVATE
PLACEMENT"); and

          WHEREAS, it is intended that at the earlier of the closing of the
Private Placement or June 30, 2003, the outstanding principal amount of the Note
(as defined below) will be converted into either such equity securities as are
sold in the Private Placement or common stock of the Company, all as more fully
set forth in the Note.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained, the parties hereto hereby agree as follows:

1. AMOUNT AND TERMS OF THE LOAN

    1.1. THE LOAN. Subject to the terms of this Agreement, the Purchaser agrees
    to lend to the Company an amount equal to $___________ and shall receive,
    upon the making of such loan and in consideration therefor:

         1.1.1. A promissory note in substantially the form attached hereto as
         Exhibit A (the "NOTE"). The amount of the Note is referred to herein as
         the "LOAN AMOUNT." Unless otherwise defined, the capitalized terms
         herein shall have the meanings assigned to such terms in the Note; and

         1.1.2. A warrant (the "WARRANT") to purchase [1/2 of the Loan Amount]
         shares (the "WARRANT SHARE NUMBER") of common stock, par value $.001
         per share, of the Company (the "Common Stock"). The Warrant shall be in
         substantially the form attached hereto as Exhibit B. Prior to issuance
         of the Warrant, the Purchaser

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         hereby agrees to pay to the Company the aggregate warrant purchase
         price of $0.001 per share covered by the Warrant.

    1.2. VALUE OF NOTE AND WARRANT. The Company and the Purchaser, having
    adverse interests and as a result of arm's length bargaining, agree that:

         1.2.1. Neither the Purchaser nor any affiliated company has rendered
         any services to the Company in connection with this Agreement;

         1.2.2. The Warrant is not being issued as compensation;

         1.2.3. The aggregate fair market value of the Note, if issued apart
         from the Warrant, is $[AMOUNT OF NOTE], and the aggregate fair market
         value of the Warrant, if issued apart from the Note, is $0.001 per
         share covered by the Warrant; and

         1.2.4. All tax returns and other information return of each party
         relative to this Agreement and the Note and the Warrant issued pursuant
         hereto shall consistently reflect the matters agreed to in Sections
         1.2.1 through 1.2.3 above.

2.  THE CLOSING

    2.1. CLOSING DATE. The closing of the purchase and sale of the Note and the
    Warrant (the "CLOSING") shall be held on the Effective Date, or at such
    other time as the Company and the Purchaser shall agree (the "CLOSING
    DATE").

    2.2. DELIVERY. At the Closing (i) the Purchaser will deliver to the Company
    a check or wire transfer of funds in the amount of the Loan Amount; and (ii)
    the Company shall issue and deliver to the Purchaser (a) a Note in favor of
    the Purchaser payable in the principal amount of the Loan Amount and (b) a
    Warrant issued in the name of Purchaser and exercisable for the Warrant
    Share Number of shares of Common Stock.

3.  REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY

    The Company hereby represents and warrants to the Purchaser as follows:

    3.1. CORPORATE POWER. The Company has, and will have at the Closing Date,
    all requisite corporate power to execute and deliver this Agreement and to
    carry out and perform its obligations under the terms of this Agreement.

    3.2. AUTHORIZATION. All corporate action on the part of the Company, its
    directors and its stockholders necessary for the authorization, execution,
    delivery and performance of this Agreement by the Company and the
    performance of the Company's obligations hereunder, has been taken.

    3.3. OFFERING. Assuming the accuracy of the representations and warranties
    of the Purchaser contained in Section 4 hereof, the offer, issue, and sale
    of the Notes and

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    Warrants are and will be exempt from the registration and prospectus
    delivery requirements of the Securities Act of 1933, as amended (the "1933
    ACT"), and have been registered or qualified (or are exempt from
    registration and qualification) under the registration, permit, or
    qualification requirements of all applicable state securities laws.

4.  REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

    The Purchaser hereby represents and warrants to the Company as follows:

    4.1. PURCHASE FOR OWN ACCOUNT. The Purchaser is acquiring the Note, the
    equity securities into which the Note may be converted, the Warrant and the
    Zenascent Common Stock issuable upon exercise of the Warrant (collectively,
    the "SECURITIES") solely for its own account and beneficial interest for
    investment and not for sale or with a view to distribution of the Securities
    or any part thereof, has no present intention of selling (in connection with
    a distribution or otherwise), granting any participation in, or otherwise
    distributing the same, and does not presently have reason to anticipate a
    change in such intention. The Purchaser understands that the Securities have
    not been registered under the 1933 Act and applicable state securities laws
    and, therefore, cannot be resold unless they are subsequently registered
    under the 1933 Act and applicable state securities laws or unless an
    exemption from such registration is available. The Purchaser further
    understands and agrees that, until so registered or transferred pursuant to
    the provisions of Rule 144 under the Securities Act, such securities shall
    bear a legend, prominently stamped or printed thereon, reading substantially
    as follows:

          "These securities have not been registered under the Securities Act of
          1933, as amended (the "Securities Act"), or applicable state
          securities laws. These securities have been acquired for investment
          and not with a view to their distribution or resale, and may not be
          sold, pledged, or otherwise transferred without an effective
          registration statement for such securities under the Securities Act
          and applicable state securities laws, or an opinion of counsel
          satisfactory to the Corporation to the effect that such registration
          is not required."

    Such legend shall be removed when such securities may be sold pursuant to
    Rule 144(k).

    4.2. INFORMATION AND SOPHISTICATION. The Purchaser acknowledges that it has
    made inquiry concerning the Company, its business, operations, financial
    condition and its personnel and received all the information it has
    requested from the Company that it considers necessary or appropriate for
    deciding whether to acquire the Securities. The officers of the Company have
    made available to the Purchaser any and all written information which the
    Purchaser has requested and have answered to the Purchaser's satisfaction
    all inquiries made by the Purchaser The Purchaser represents that it has had
    an opportunity to ask questions and receive answers from

                                       3
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    the Company regarding the terms and conditions of the offering of the
    Securities and to obtain any additional information necessary to verify the
    accuracy of the information given the Purchaser. The Purchaser further
    represents that it has such knowledge and experience in financial and
    business matters that it is capable of evaluating the merits and risk of
    this investment and that the Purchaser has the capacity to protect its own
    interests in connection with the purchase of the Securities by reason of the
    Purchaser's business or financial experience.

    4.3. ABILITY TO BEAR ECONOMIC RISK. The Purchaser acknowledges that
    investment in the Securities involves a high degree of risk, and represents
    that it is able, without materially impairing its financial condition, to
    hold the Securities for an indefinite period of time and to suffer a
    complete loss of its investment.

    4.4. RISK. The Company's operations are subject to all of the risks inherent
    in any early-stage business enterprise and the likelihood of the success of
    the Company must be evaluated in light of various factors, including the
    need for additional capital to fund the Company's activities, working
    capital deficits, competition with established and well-financed entities,
    the need for further refinements of the Company's products and services,
    changes in technology, reliance on key personnel, changes in markets
    generally for the Company's products and services, and changes and
    uncertainties in the securities markets. There can be no assurance that the
    Company will be able to generate sufficient revenues to support its
    operations and/or achieve profitable results.

    4.5. ACCREDITED INVESTOR STATUS. The Purchaser is an "ACCREDITED INVESTOR"
    as such term is defined in Rule 501 under the Securities Act.

    4.6. FURTHER ASSURANCES. The Purchaser agrees and covenants that at any time
    and from time to time it will promptly execute and deliver to the Company
    such further instruments and documents and take such further action as the
    Company may reasonably require in order to carry out the full intent and
    purpose of this Agreement.

5.  MISCELLANEOUS

    5.1. BINDING AGREEMENT. The terms and conditions of this Agreement shall
    inure to the benefit of and be binding upon the respective successors and
    assigns of the parties. Nothing in this Agreement, express or implied, is
    intended to confer upon any third party any rights, remedies, obligations,
    or liabilities under or by reason of this Agreement, except as expressly
    provided in this Agreement.

    5.2. GOVERNING LAW. This Agreement shall be governed by and construed under
    the laws of the State of New York as applied to agreements among New York
    residents, made and to be performed entirely within the State of New York.

    5.3. COUNTERPARTS. This Agreement may be executed in two or more
    counterparts, each of which shall be deemed an original, but all of which
    together shall constitute one and the same instrument.

                                       4
<PAGE>

    5.4. TITLES AND SUBTITLES. The titles and subtitles used in this Agreement
    are used for convenience only and are not to be considered in construing or
    interpreting this Agreement.

    5.5. NOTICES. Any notice required or permitted under this Agreement shall be
    given in writing and shall be deemed effectively given upon personal
    delivery or upon deposit with the United States Post Office, postage
    prepaid, addressed to the Company at 1 Montauk Highway, Southampton, New
    York 11968, or to the Purchaser at [ADDRESS OF PURCHASER], or at such other
    address as such party may designate by ten (10) days advance written notice
    to the other party.

    5.6. MODIFICATION; WAIVER. No modification or waiver of any provision of
    this Agreement or consent to departure therefrom shall be effective unless
    in writing and approved by the Company and the Purchaser.

    5.7. ENTIRE AGREEMENT. This Agreement and the Exhibits hereto constitute the
    full and entire understanding and agreement between the parties with regard
    to the subjects hereof and no party shall be liable or bound to any other in
    any manner by any representations, warranties, covenants and agreements
    except as specifically set forth herein.

         IN WITNESS WHEREOF, the parties have executed this NOTE AND WARRANT
PURCHASE AGREEMENT as of the date first written above.

                                       COMPANY:

                                       ZENASCENT, INC.

                                       By:
                                          ------------------------------------
                                          Name:
                                          Title:

                                       PURCHASER:

                                       [PURCHASER]

                                       By:
                                          ------------------------------------
                                          Name:
                                          Title:

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