Document:

Amendment dated October 18, 2009 to the Consultant Agreement

 Exhibit 10.52 
 ASTERISKS INDICATE MATERIAL THAT HAS BEEN REDACTED, FOR WHICH 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. 
 Execution Version 
 This AMENDMENT TO THE AGREEMENT (this “Amendment”), dated as of October 18, 2009 (the “Amendment Date”), is
entered into by and among Steven Spielberg, in his personal capacity, Diamond Lane Productions, Inc., a California corporation (“DLP” and together with Steven Spielberg, “Steven”), and Universal City Development Partners, Ltd., a
Florida limited partnership (as successor in interest to Universal City Florida Partners, the “Partnership”), such parties to be referenced individually as a “Party” and collectively as the “Parties”. 
 RECITALS 
 WHEREAS, Steven Spielberg and the Partnership are parties to that certain Agreement, dated as of January 20, 1987, and amended and/or modified as of January 5, 2001, July 15, 2003 and March 30, 2006 (collectively,
the “Agreement”), with respect to Steven Spielberg rendering certain services to the Partnership as creative consultant in connection with certain projects; 
 WHEREAS Steven Spielberg by letter dated February 27, 1989, has directed that all payments to him by the Partnership under the Agreement be made to DLP; 
 WHEREAS, DLP is currently receiving payments for the Florida Project and one Comparable Project in Osaka, Japan; 
 WHEREAS, additional projects that could constitute Comparable Projects are currently contemplated in Singapore, Dubai, *** and ***;

 WHEREAS, subject to the terms and conditions set forth herein, the Parties agree to amend the Agreement by way of this
Amendment; and 
 WHEREAS, capitalized terms used but not defined in this Amendment shall have the meanings ascribed to them in
the Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE I 
 AMENDMENTS TO THE AGREEMENT 
 1.1 Amendments to the Agreement. Steven and the Partnership each hereby
consents and agrees that the Agreement is hereby amended as follows: 
  

	 	(a)	The first sentence of Paragraph 11(b) of the Agreement is hereby amended and restated in its entirety to read as follows: 

 “Subsequent to the above three-year period as to the Florida Project and for all years during the term of this agreement as to the
Comparable Project in Osaka, Japan known as Universal Studios Japan (“USJ”), DLP shall be paid ***% of 100% of the gross revenues, gross rentals, sales price, etc. instead of the above provided ***%.” 

	 	(b)	Paragraph 11(d) of the Agreement is hereby amended and restated in its entirety to read as follows: 

 “DLP will be entitled to quarterly accountings and payments based thereon within 45 days from the end of each quarter. On every
June 30th during the term of this Agreement (or, if not a Business Day (as used herein, “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in Orlando, Florida are authorized or required
by law to remain closed), on the next Business Day thereafter), (i) the Partnership will provide DLP with a three-year projection of the payments projected to be owed to DLP under this Agreement in respect of the Florida Project and
(ii) Universal City Studios LLLP d/b/a Universal Parks and Resorts (“UPR”) will provide DLP with a three-year projection of the payments projected to be owed to DLP under this Agreement in respect of each Comparable Project.

 Such projections will be based on management’s reasonable best estimates as to the future performance of the Florida
Project and such Comparable Projects at the time prepared. Steven acknowledges and agrees that such projections are for informational purposes only and actual performance may differ substantially from such projections. Neither the
Partnership nor UPR, nor any guarantor of the Partnership’s obligations under this Agreement, shall incur any liability with respect to such projections. Steven shall keep all such projections confidential pursuant to (i) Paragraph 25
of this Agreement, (ii) that certain Confidentiality Agreement between DLP and UPR, dated as of May 1, 2009 and (iii) that certain Confidentiality Agreement between DLP and the Partnership, dated as of October 15, 2009.”

  

	 	(c)	Paragraph 11(e) of the Agreement is hereby amended and restated in its entirety to read as follows: 

 “Except as provided in the remainder of this Paragraph 11e, the payment to DLP of ***% of the Project’s revenues specified above
in this Paragraph 11 shall, subject to Paragraphs 13e and 14e, apply also to Comparable Projects in which Steven becomes vested hereunder pursuant to Paragraph 12 while Steven has an obligation to render consulting services hereunder (as the term of
his obligation to render consulting services may be extended pursuant to Paragraph 13). “Gross revenues” of a Comparable Project shall be defined as set forth in Exhibit “A”, as if the Partnership was the sole owner and
operator of such Comparable Project. Notwithstanding the foregoing to the contrary, with respect to any Comparable Project (other than USJ) in which DLP’s interest is vested hereunder pursuant to Paragraph 12 while Steven has an obligation
to render consulting services hereunder (as the term of his obligation to render consulting services may be extended pursuant to Paragraph 13) (and are not exempted by Paragraphs 13e or 14e) and in which the Partnership and/or any Affiliate(s)
do(es) not own or control at least 50% of the equity thereof, in lieu of all other sums provided above in this Paragraph 11, DLP shall receive a participation in 100% of the gross revenues, gross rentals and sales price, etc. of such Comparable
Project equal to the greater of (i) ***% and (ii) the percentage figure determined by multiplying *** times the ratio that the Partnership’s (and/or any Affiliate’s) equity in such Comparable Project bears to 50%. For
example, if the Partnership and/or any Affiliates own 45% of the equity of a Comparable Project, then DLP shall receive ***% of 100% of the gross revenues, gross rental, sales price, etc., of such Comparable Project.” 

	 	(d)	Paragraph 12 of the Agreement is hereby amended and restated in its entirety to read as follows: 

 “12. Vesting. Steven has earned the right to receive ***% of 100% of the gross revenues, gross rentals, sales price, etc.,
from the Florida Project and from USJ, each as in existence on the effectiveness of that certain Amendment to the Agreement (the “2009 Amendment”), dated October 18, 2009 (such date of effectiveness, the “2009 Amendment
Date”) (which means that such compensation is “vested”). The term “vest” and “vested” as hereinafter used in this Agreement means Steven cannot be deprived of payments which are “vested” by reason of
Steven’s death or disability or by reason of Steven’s default. Steven is also deemed vested as of the 2009 Amendment Date in his right to receive the amounts set forth in Paragraph 11e in connection with the Comparable Projects
contemplated as of the 2009 Amendment Date in Singapore, Dubai, *** and *** (the “Contemplated Projects”). Steven’s right to compensation from any other Comparable Project (other than USJ and the Contemplated Projects) under
Paragraph 11 shall vest with respect to each such Comparable Project if, on the date when construction of such Comparable Project commences, as evidenced by on-site physical work such as demolition, clearing or construction, Steven continues to have
an obligation to render consulting services hereunder, this Agreement has not been terminated as a result of Steven’s material breach and Steven is not then deceased or permanently and substantially mentally disabled. For the avoidance of
doubt, nothing in this Agreement shall obligate the Partnership or any of its Affiliates, or UPR, to proceed with the development or opening of any Comparable Project (including but not limited to the Contemplated Projects). Also for the
avoidance of doubt, the fact that a Comparable Project has “vested”, and therefore Steven cannot be deprived of payments which are “vested” by reason of the events noted above, shall not in and of itself mean that Steven has any
right to receive compensation in respect of such Comparable Project pursuant to Paragraph 14b. Nothing set forth herein deprives the Partnership of its right to damages (and its offset and other rights at law or in equity, if any) in the event
of Steven’s material breach hereof.” 
  

	 	(e)	Paragraph 13b is hereby amended by inserting the following sentence at the end thereof: 

 “The Partnership is deemed to have given Steven a timely written notice, pursuant to and in accordance with Paragraph 13a, pursuant to
which the Partnership has declined to exercise its Extension Option for the Extension Year containing the 2009 Amendment Date, and Steven is deemed to have exercised Steven’s Option for each year that he has the right to do so, whether or not
written notice is given as herein provided.” 
  

	 	(f)	The first sentence of Paragraph 14 of the Agreement is hereby amended and restated in its entirety to read as follows: 

 “The “Termination Date” is defined to be June 7, 2017.” 
  

	 	(g)	Paragraph 14(b) of the Agreement is hereby amended and restated in its entirety to read as follows: 

  

	 	“(i)	Subject to this Paragraph 14b and Paragraph 14e, the Partnership will pay DLP, in accordance with the terms hereof, the fair market value of Steven’s interest in
the Florida Project and in all Comparable Projects which were vested pursuant to Paragraph 12 hereunder and open to the general public as of the date which is one year prior to the Stop Date (the “Put Payment”), which Put Payment will be
determined in accordance with Exhibit D (Put Payment) attached hereto (the “Put Payment Formula”). 

	 	(ii)	At any time prior to the Stop Date (but in no event later than June 7, 2017) and solely with respect to the Florida Project and Comparable Projects opened to the
general public for greater than one year at the time of election (the Florida Project and such Comparable Projects, collectively, the “Qualifying Projects”), DLP may make a one-time election by written notice (the “Interim Adjustment
Election”), which shall be dated the date of delivery to the Partnership, to provide for the calculation of an amount which DLP may choose to receive in lieu of the Put Payment (the “Alternative Payment”) if the Stop Date occurs on or
before March 31, 2018; provided , however , that the calculation as to any such Qualifying Project which shall not have been opened to the general public at least three years when the Interim Adjustment Election is made (such
Qualifying Project, a “Late Qualifying Project”) shall occur as set forth below on the third anniversary of its opening to the general public (the “Late Qualifying Adjustment Date”). The Alternative Payment shall be
calculated by adjusting the Applicable Discount Rate and the Applicable Base Payment (as such terms are defined in Exhibit D) set forth in the Put Payment Formula (the “Interim Adjustments”) as of a date (the “Interim Adjustment
Date”) that is (i) for the Qualifying Projects (other than the Late Qualifying Projects), 90 days after date of the Interim Adjustment Election and (ii) for any Late Qualifying Project, the Late Qualifying Adjustment
Date. DLP’s election to receive the Alternative Payment in lieu of the Put Payment (the “Payment Election”) shall be made within 10 Business Days after the amounts of the Put Payment and Alternative Payment are determined with
respect to the Qualifying Projects that are not Late Qualifying Projects, and such Payment Election shall be required to apply to all but not less than all of the Qualifying Projects (including the Late Qualifying Projects) in connection with the
calculation of the Put Payment or Alternative Payment, as the case may be. 

  

	 	(iii)	In connection with the Interim Adjustment Election, the Interim Adjustments shall be applied to the Put Payment Formula in order to calculate the Alternative Payment as
follows: 

  

	 	(A)	The Applicable Discount Rate for the Florida Project (as defined in Exhibit D) and the Applicable Discount Rate for a Comparable Project (as defined in Exhibit D) that
is a Qualifying Project, as the case may be, shall be calculated as follows: 

 two-thirds
(2/3) multiplied by (x) the Applicable Discount Rate for the Florida Project on the Interim Adjustment Date or (y) the Applicable Discount Rate for such Comparable Project on the Interim Adjustment Date, as the case may be,

 plus 
 one third (1/3) multiplied by (x) the Applicable Discount Rate for the Florida Project on the Stop Date or (y) the Applicable Discount Rate for such Comparable Project on the Stop Date,
as the case may be; and 
  

	 	(B)	the Applicable Base Payment for the Florida Project (as defined in Exhibit D) and the Applicable Base Payment for such Comparable Project (as defined in Exhibit D ), as
the case may be, shall be calculated as of the Interim Adjustment Date, rather than as of the Stop Date. 

	 	(iv)	DLP’s right to choose to receive, on the Stop Date, the Alternative Payment in lieu of the Put Payment shall be inapplicable if the Stop Date does not occur on or
prior to March 31, 2018. For the avoidance of doubt, in the event DLP receives the Alternative Payment, it is acknowledged that the Alternative Payment shall be calculated only with respect to the Qualifying Projects (including Late
Qualifying Projects, if any), and DLP will have no interest of any kind in, or right to receive any compensation whatsoever with respect to, any Comparable Projects that are not Qualifying Projects or Late Qualifying Projects, nor will Steven have
any further obligation to render consulting services on any such Comparable Project that is not a Qualifying Project or Late Qualifying Project (regardless of whether such Comparable Project that is not a Qualifying Project or Late Qualifying
Project opened to the general public more or less than one year before the Stop Date, or opened to the general public anytime after the Stop Date). 

  

	 	(v)	If DLP receives the Put Payment (and not the Alternative Payment) set forth in clause (i) above, and on the Stop Date any Comparable Project (including any
Contemplated Project) which has vested hereunder, has been opened to the general public as of the date which is one year prior to the Stop Date, and has not then been opened to the general public for at least 3 years prior to the Stop Date, the Put
Payment with respect to such Comparable Project shall occur within 10 Business Days following the date, if any, that such Comparable Project has been opened to the general public for 3 years (it being understood that the Applicable Base Payment and
the Applicable Discount Rate for any such Comparable Project shall be calculated as of the date that such Comparable Project has been opened to the general public for 3 years, and not as of the Stop Date), and DLP shall continue to receive its
quarterly compensation payments pursuant to Paragraph 11 hereunder on such Comparable Project until such Put Payment is made.” 

  

	 	(h)	The last two sentences of Paragraph 15 of the Agreement are hereby amended and restated in their entirety to read as follows: 

 “If the Partnership and/or its Affiliates transfer ownership of their equity interests, if any, in the Florida Project and any
then-existing Comparable Projects as a unit to a new owner, provided that as of the date of such change of ownership, the financial condition of the new owner reasonably appears to Steven to be sufficiently strong to enable the new owner to comply
with its obligations to Steven and such new owner assumes for Steven’s benefit all of the Partnership’s obligations to Steven in writing, Steven will look solely to the new owner for any obligations accruing or arising after said date and
the guarantees by MCA Inc. and Cineplex Odeon Corporation, as well as, in the event the transfer occurs after June 7, 2017, the guarantee by NBC Universal, Inc. (“NBCU”), referred to in Paragraph 22 will terminate. Except as set
forth above, no transfer of ownership shall affect the rights and obligations of the parties.” 
  

	 	(i)	The reference to “Paragraph 14b” in the seventh sentence of Paragraph 16 of the Agreement is hereby deleted and replaced with “Paragraph 20”.

  

	 	(j)	Paragraph 20 of the Agreement is hereby amended by inserting the following sentence at the end thereof: 

 “In the event either Steven or the Partnership commences any such arbitration against the other party with respect to this Agreement,
the parties agree that the prevailing party (as determined by the arbitral panel before whom such proceeding is commenced) shall be entitled to recover reasonable attorneys’ fees and costs as may be incurred in connection therewith in addition
to any such other relief or award as may be granted.” 
  

	 	(k)	Paragraph 22 of the Agreement is hereby amended and restated in its entirety to read as follows: 

  

	 	“22.	Guarantees and Security; Powers of Attorney; Costs of Perfection. 

 a. Guarantees. Credit support for the Partnership’s obligations hereunder
will be provided (i) by a joint and several Guarantee, dated November 4, 1988, of MCA, Inc. and Cineplex Odeon Corporation and (ii) by the Guarantee (the “NBCU Guarantee”), dated October 18, 2009, of NBCU attached as
Appendix B to the 2009 Amendment. 
 b. Security. Credit support for the Partnership’s obligations hereunder
will also be provided pursuant to security documentation executed and delivered in conformity with Paragraphs 3.1(b) and (c) to the 2009 Amendment, by which, among other things, the Partnership’s obligations arising in respect of the
Florida Project shall be secured by a perfected junior security interest and mortgage lien on the Partnership’s tangible personal and real property included in the Florida Project, which security interest and mortgage lien will apply to the
property described in, and shall have the terms and be subordinated and junior to the extent set forth in, Paragraphs 3.1(b) and (c) of the 2009 Amendment. 
 The security documentation securing the Partnership’s obligations arising in respect of the Florida Project will not restrict the Partnership’s ability to operate, manage, alter or sell any or
all of the property representing collateral or contain any covenants or obligations, other than to grant and perfect for Steven’s benefit a security interest in the enumerated classes of property. 
 The parties agree that the security interest and mortgage lien with respect to the Florida Project granted to Steven pursuant to Paragraphs
3.1(b) and (c) of the 2009 Amendment will by their terms terminate and be released in full at such time that the senior liens contemplated by such Paragraphs 3.1(b) and (c) of the 2009 Amendment is released, provided that at that time no
other security interest and mortgage lien in the Florida Project shall have been granted by the Partnership to any other lender. The security interest and mortgage lien would not be released under circumstances where Steven is seeking to
realize against the collateral and the senior lien contemplated by such Paragraphs 3.1(b) and (c) of the 2009 Amendment is released as a result of the application of proceeds of realization against the collateral. Under such circumstances,
the junior security interest and mortgage lien will be released on the collateral foreclosed upon, but not on collateral that is not foreclosed upon (and not on any proceeds of foreclosure remaining after payment in full of any prior obligations).

 If after the release of the liens granted to Steven, the Partnership subsequently grants to any lender a security interest
with respect to property included in the Florida Project, the Partnership will at that time grant to Steven a junior security interest and mortgage lien with respect to such property to the extent it includes the tangible personal and real property
of the type included in the previously released junior security interest and mortgage lien as described and subject to the terms set forth above and in Paragraphs 3.1(b) and (c) of the 2009 Amendment; provided, however, that if
the subsequent security interest and mortgage lien is a purchase money lien limited to the property being purchased, then no such junior security interest shall be required. For the avoidance of doubt, such terms include those set forth in
Appendix C to the 2009 Amendment. Also, it is agreed that any existing or subsequent senior secured debt may not exceed in the aggregate the greater of $975 million and an amount equal to the product of 3.75 times the EBITDA of the Partnership
(determined at the time of the incurrence of any term loans or at the time of increasing any revolving commitments or at the time of incurring any other senior secured debt, as the case may be, with “EBITDA” being defined in and calculated
pursuant to the relevant provisions of the senior secured credit facilities referenced in Paragraph 3.1(c) of the 2009 Amendment). 
 The parties agree that the security interest and mortgage lien with respect to the Florida Project granted to Steven pursuant to Paragraphs 3.1(b) and (c) of the 2009 Amendment will contain self-executing provisions that state that, in
the event of the release of any collateral from the lien of any security interest and/or mortgage securing the Partnership’s then-existing senior secured credit facilities, the same collateral, if encumbered by any security interest and/or

 
mortgage lien with respect to the Florida Project granted to Steven pursuant to Paragraphs 3.1(b) and (c) of the 2009 Amendment, will automatically be deemed to be released
therefrom. Such self-executing automatic release provisions shall be in addition to, not in lieu of, the powers of attorney described in Paragraph 3.1(c) of the 2009 Amendment, and shall not derogate from the powers of the attorneys-in-fact
under such powers of attorney. In the event the Partnership determines to issue Incremental Obligations (as defined in the Appendix C to the 2009 Amendment), then Steven will enter into an intercreditor agreement and provide a power of attorney
with respect to such Incremental Obligations having substantive terms comparable to and based on those set forth in Appendix C to the 2009 Amendment and Paragraph 22c below. 
 c. Powers of Attorney. Referring to the General Power of Attorney described in Appendix C to the 2009 Amendment, Steven
shall, from time to time, as applicable, provide a power of attorney having similar terms for any agent which shall succeed any agent acting for the benefit of the first lien secured parties and for any such agent in any subsequent senior financing
described above, within 10 days of being furnished with a form of power of attorney for execution. 
 Furthermore, in addition to
the General Power of Attorney described in Appendix C to the 2009 Amendment, Steven shall provide, on or before the 2009 Amendment Date, and from time to time thereafter (within 10 days of being furnished with a form of power of attorney for
execution), as applicable in the case off successors, an irrevocable, unconditional and recordable General Power of Attorney in favor of NBCU (and its successors as guarantors under the NBCU Guarantee), pursuant to which Steven shall authorize NBCU
(and its successors as guarantors under the NBCU Guarantee) to execute and record, in the name and on behalf of Steven, (i) a release (x) each time that the first lien secured parties execute and record a similar such release or
(y) in connection with any sale or transfer, in whole or in part, of any or all of the real or personal property in which a collateral interest is granted pursuant to this Paragraph 22, and (ii) a subordination (x) each time that the
first lien secured parties execute and record a similar such subordination or (y) in connection with any refinancing, in whole or part, of the senior security interests and mortgage liens encumbering the Florida Project or any portion thereof
or interest therein. 
 d. Costs of Perfection. The Partnership shall bear the cost to perfect the security
interest and mortgage lien granted pursuant to this Paragraph 22b, including, without limitation, mortgage recording taxes and other filing fees, but the parties shall otherwise be obligated, subject to Paragraph 20, for their own costs and
expenses, including without limitation, legal fees and expenses.” 
  

	 	(l)	The Agreement is hereby amended by inserting the following Paragraph 26 after Paragraph 25 of the Agreement as follows: 

 “26. Notices. All notices and other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail, or sent by telecopy, as follows: 
 (i) if to the Partnership,
to it at Universal City Development Partners, Ltd., 1000 Universal Studios Plaza, Orlando, Florida 32819, Attention: Chief Financial Officer, Telecopier No.: (407) 224-6740, with a copy to Universal City Development Partners, Ltd., 1000
Universal Studios Plaza, Orlando, Florida 32819, Attention: Vice President, Legal Affairs, Telecopier No.: (407) 363-8219, with a copy to NBC Universal, Inc., 30 Rockefeller Plaza, New York, NY 10012, Attention of Christy Rupert Shibata,
Executive Vice President, Financial Planning and Analysis, Telecopier No.: (212) 664-5251), with a copy to NBC Universal, Inc., 30

 
Rockefeller Plaza, New York, NY 10112, Attention of Scott Seeley, Senior Vice President, Corporate & Transactions Law, Telecopier No.: (212) 664-2147); and 
 (ii) if to Steven, at Gang Tyre Ramer and Brown, Inc., 132 S Rodeo Dr., Beverly Hills, CA 90212, Attention of Bruce Ramer and Harold Brown,
Telecopier Nos. (telecopy to be sent to both numbers): (310) 777-7000 and (310) 777-7005, with a copy to Breslauer, Rutman and Anderson, 11400 West Olympic Blvd, Suite 550, Los Angeles, CA 90064-1551, Attention of Gerald Breslauer and
Mickey Rutman, Telecopier Nos. (telecopy to be sent to both numbers): (310) 481-3601 and (310) 481-3615. 
 Each party
hereto may change its address or telecopier number for notices and other communications hereunder by notice to the other party. All notices and other communications given in accordance with the provisions of this Agreement will be deemed to
have been given on the date of receipt.” 
 ARTICLE II
 REPRESENTATIONS AND WARRANTIES 
 2.1 Representations and Warranties of DLP. DLP represents and warrants to the Partnership as follows: 
  

	 	(a)	DLP is duly organized and existing in good standing under the laws of the state of its organization with full power and authority to enter into this Amendment;

  

	 	(b)	this Amendment constitutes the legal, valid and binding obligation of Steven, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the rights of creditors generally and subject to the general powers of a court of equity; and 

  

	 	(c)	the execution and performance of this Amendment by DLP does not and will not violate any provision of, or constitute a default under or breach of, any agreement or
instrument, order, arbitration award, judgment or decree to which DLP, as applicable, is a party or by which any of DLP’s assets is bound. 

 2.2 Representations and Warranties of the Partnership. The Partnership represents and warrants to Steven as follows: 
  

	 	(a)	the Partnership is duly organized and existing in good standing under the laws of the state of its organization with full power and authority to enter into this
Amendment; 

  

	 	(b)	this Amendment constitutes the legal, valid and binding obligation of the Partnership, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally and subject to the general powers of a court of equity; and 

  

	 	(c)	the execution and performance of this Amendment by the Partnership does not and will not violate any provision of, or constitute a default under or breach of, any
agreement or instrument, order, arbitration award, judgment or decree to which the Partnership is a party or by which any of its assets is bound. 

 ARTICLE III 
 CONDITIONS TO EFFECTIVENESS 
 3.1 Conditions. This Amendment and the Guarantee dated as of the date hereof attached hereto in the form of Appendix B hereto (the “NBCU Guarantee”) made by NBC Universal, Inc. (“NBCU”) for the benefit of
Steven, shall not become effective until the following conditions are satisfied: 
  

	 	(a)	Each of the parties to this Amendment and the NBCU Guarantee (or their counsel) shall have received counterparts of this Amendment and the NBCU Guarantee executed by
the other parties thereto. Delivery of an executed counterpart of a signature page of this Amendment or the NBCU Guarantee by facsimile or electronic transmission will be effective as delivery of a manually executed counterpart thereof.

  

	 	(b)	In order to secure the Partnership’s obligations in respect of the Florida Project, the Partnership and Steven shall have executed and delivered
(i) documentation granting Steven a security interest in, and a mortgage lien on, the tangible personal and real property assets of the Partnership included in the Florida Project, which documentation and security interests and mortgage liens
shall have the terms contemplated by the Intercreditor Agreement referred to below and (ii) Steven shall have provided the powers of attorney referred to in Paragraph 22c of the Agreement (as amended) and Appendix C attached hereto.

  

	 	(c)	Steven and the agent for the Partnership’s senior secured credit facilities shall have executed and delivered an intercreditor agreement on terms as provided in
Appendix C to this Amendment (the “Intercreditor Agreement”). 

  

	 	(d)	Either (i) the requisite lenders under the Partnership’s senior secured credit facilities shall have consented to permit the transactions contemplated above
and any related transactions or (ii) the Partnership’s senior secured credit facilities shall be amended on terms that permit the transactions contemplated above and any related transactions. 

 3.2 Agreement to Facilitate. Each of the parties hereto hereby agrees to exercise all commercially reasonable efforts to cause the
conditions set forth in Paragraph 3.1 above to be satisfied as promptly as possible, it being understood that the Partnership has no obligation to satisfy the condition set forth in Paragraph 3.1(b) or Paragraph 3.1(d) above on terms that are not
acceptable to it. 
 ARTICLE IV 
 MISCELLANEOUS 
 4.1 Governing Law. THIS AMENDMENT SHALL
BE INTERPRETED, AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED, IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. 
 4.2 Paragraph Headings. The paragraph titles contained in this Amendment are included for convenience only and are without substantive meaning or content and are not a part of the agreement
between the Parties hereto. 
 4.3 Counterparts. This Amendment 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. 
 [Remainder of
page intentionally left blank. Signature pages to follow.] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
their duly authorized officers as of the Amendment Date first above written. 
  

	
	/s/ Steven Spielberg
	STEVEN SPIELBERG
	
	DIAMOND LANE PRODUCTIONS, INC.

  

			
	By:	 	/s/ Steven Spielberg
	Name:	 	Steven Spielberg
	Title:	 	President

 SIGNATURE PAGE TO 
 AMENDMENT TO THE AGREEMENT 
 (STEVEN SPIELBERG) 

			
	UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD.
		
	By:	 	Universal City Florida Holding Co. II, General Partner
		
	By:	 	Universal City Property Management II LLC, General Partner

  

			
		
	By:	 	/s/ Thomas Williams
	Name:	 	Thomas Williams
	Title:	 	Chairman and CEO

			
		
	By:	 	Blackstone UTP Capital LLC, General Partner
		
	By:	 	/s/ Peter Wallace
	Name:	 	Peter Wallace
	Title:	 	President and Treasurer

  

			
		
	By:	 	Blackstone UTP Capital A LLC, General Partner
		
	By:	 	/s/ Peter Wallace
	Name:	 	Peter Wallace
	Title:	 	President and Treasurer

  

			
		
	By:	 	Blackstone UTP Offshore Capital LLC, General Partner
		
	By:	 	/s/ Peter Wallace
	Name:	 	Peter Wallace
	Title:	 	President and Treasurer

  

			
		
	By:	 	Blackstone Family Media III LLC, General Partner
		
	By:	 	/s/ Peter Wallace
	Name:	 	Peter Wallace
	Title:	 	President and Treasurer

 We agree to provide the reports to be provided by us pursuant to Paragraph 11d of the Agreement. 

 

			
	UNIVERSAL CITY STUDIOS LLLP
	d/b/a Universal Parks and Resorts (“UPR”)
		
	By:	 	/s/ Thomas Williams
	Name:	 	Thomas Williams
	Title:	 	Chairman and CEO

 SIGNATURE PAGE TO 
 AMENDMENT TO THE AGREEMENT 
 (STEVEN SPIELBERG) 

 Universal Studios, Inc., as successor-in-interest to MCA Inc., reaffirms, as of October
    , 2009, its obligations under the Guarantee, dated November 4, 1988, executed by MCA Inc. and Cineplex Odeon Corporation. 
  

			
	UNIVERSAL STUDIOS, INC.
		
	By:	 	/s/ Lynn Calpeter
	Name:	 	Lynn Calpeter
	Title:	 	Executive Vice President and Chief Financial Officer

 SIGNATURE PAGE TO 
 AMENDMENT TO THE AGREEMENT 
 (STEVEN SPIELBERG) 

 Appendix A 
 to the Amendment 
 Exhibit D to the Agreement 
 Put Payment 
 The Put Payment
will be calculated based on the following formula. There will be a separate Put Payment calculation for the Florida Project and for each eligible Comparable Project. The total Put Payment will equal the sum of the Put Payments for the
Florida Project and for each eligible Comparable Project: 
 Formula: 
  

							
	 Put Payment =
	  	Applicable
Base Payment	  	X	  	Cap Rate

 where 
  

					
	Cap Rate =	  	(1+ Applicable Growth Rate)	  	
	  	(Applicable Discount Rate – Applicable Growth Rate)	  	

 Definitions: 
 Applicable Base Payment for the Florida Project: The Applicable Base Payment for the Florida Project will equal the higher of (a) the sum of the amounts
paid to DLP under the Agreement in respect of the Florida Project over the last *** quarters prior to the Stop Date, divided by ***, and (b) the sum of the amounts paid to DLP under the Agreement in respect of the Florida Project over the last
*** quarters prior to the Stop Date, divided by ***. 
 Applicable Discount Rate for the Florida Project: The
Applicable Discount Rate for the Florida Project will equal the most recent yield, prior to the Stop Date, on the Stripped Principal of U.S. Treasury Bonds with a maturity closest to 10 years, as quoted by Bloomberg, or if unavailable, a similar
source, plus a risk premium of 6.5 percent. 
 Applicable Growth Rate for the Florida Project: The Applicable Growth Rate for
the Florida Project will equal ***%. 
 Applicable Base Payment for a Comparable Project: The Applicable Base Payment for a
Comparable Project will equal the higher of (a) the sum of the amounts paid to DLP under the Agreement in U.S. Dollars in respect of such Comparable Project over the last *** quarters prior to the Stop Date, divided by ***, or (b) the sum
of the amounts paid to DLP under the Agreement in U.S. Dollars in respect of such Comparable Project over the last *** quarters prior to the Stop Date, divided by ***. Comparable Projects which were vested pursuant to Paragraph 12 of the
Agreement, but not opened to the general public, as of the date which is three years prior to the Stop Date, will be valued at the date that is three years after the opening date thereof, and the calculation of the Applicable Base Payment with
respect to such a Comparable Project will be made as of such date, in an amount equal to the sum of the amounts paid to DLP under the Agreement in U.S. Dollars in respect of such Comparable Project over the last *** quarters prior to such date,
divided by ***. DLP shall continue to receive its quarterly compensation payments pursuant to Paragraph 11 of the Agreement on such Comparable Project until the Put Payment is made with respect to such Comparable Project. DLP will not be
entitled to any further payments under the Agreement after the Put Payment. 
 Applicable Discount Rate for a Comparable
Project: The Applicable Discount Rate for a Comparable Project will equal the most recent yield, prior to the Stop Date, on the senior-most notes with a maturity closest to 10 years, issued directly by the national government of the
country where the Comparable Project is located, as quoted by Bloomberg, or if unavailable, a similar source, plus a risk premium of (i) *** percent if such Comparable Project is located outside the United States or (ii) *** percent if
such Comparable Project is located in the United States. 

 Applicable Growth Rate for a Comparable Project: The Applicable Growth Rate for a
Comparable Project will equal ***%. 
 Example Calculation – Florida Project: 
  

			
	 Hypothetical Calculation Date
	  	10/9/2009
		
	 Applicable Base Payment:
	  	
	 Last *** Quarters Payments to Diamond Lane
	  	[$***]
	 Divided by ***
	  	***
	 Applicable Base Payment for the Florida Project
	  	[$***]
		
	 Applicable Discount Rate:
	  	
	 Yield on 10-Year U.S. Treasury Bond
	  	[***%]
	 Risk Premium
	  	6.5%
		  	 
	 Applicable Discount Rate
	  	***%
		
	 Applicable Growth Rate:
	  	***%

  

							
	 Put Payment Value:
	  		  		  	
	 [$ ***] *
	  	(1+ ***)	  		  	= [$***]
		  	(***–***)	  		  	

 Example Calculation – Japan: 
  

			
	 Hypothetical Calculation Date
	  	10/9/2009
		
	 Applicable Base Payment:
	  	
	 Last *** Quarters Payments to Diamond Lane in U.S. Dollars
	  	[$***]
	 Divided by ***
	  	***
	 Applicable Base Payment for Japan
	  	[$***]
		
	 Applicable Discount Rate:
	  	
	 Yield on 10-year Japanese Government Bond
	  	***%
	 Risk Premium
	  	***%
		  	 
	 Applicable Discount Rate
	  	***%
		
	 Applicable Growth Rate:
	  	***%

  

							
	 Put Payment Value:
	  		  		  	
	 [$ ***] *
	  	(1+ ***)	  		  	= [$***]
		  	(***–***)	  		  	

  
  
  
 -Appendix A- 
  
  
  

 Appendix B 
 to the Amendment 
 GUARANTEE 
 GUARANTEE (this “Guarantee”), dated as of October 18, 2009, by NBC UNIVERSAL, INC., a Delaware corporation (with its successors, the
“Guarantor”) for the benefit of Steven Spielberg, in his personal capacity, and Diamond Lane Productions, Inc., a California corporation (“DLP” and, together with Steven Spielberg, “Steven” or the
“Beneficiary”). 
 WHEREAS, under an Agreement, dated as of January 20, 1987, between Universal City Development Partners, Ltd.,
a Florida limited partnership (as successor in interest to Universal City Florida Partners, “UCDP”) and Steven Spielberg, as amended and/or modified as of February 5, 2001, July 15, 2003 and March 30, 2006, and as being
amended on the date hereof (collectively, the “Agreement”), UCDP has certain payment obligations to DLP; and 
 WHEREAS, Steven
Spielberg is obligated to provide his personal services to the Partnership pursuant to the Agreement and, by letter dated January 27, 1989, has directed that all payments to him by the Partnership under the Agreement be made to DLP. 

NOW, THEREFORE, for consideration, the receipt and sufficiency of which is hereby acknowledged, the Guarantor is willing to enter into this Guarantee,
and therefore agrees as follows: 
 1. The Guarantee. The Guarantor hereby guarantees, in accordance with the terms hereof, to Steven the full
and punctual payment when due under the Agreement of each Guaranteed Obligation, as hereinafter defined. “Guaranteed Obligations” means all amounts payable by UCDP to Steven pursuant to the terms of the Agreement. 
 2. Guarantee Terms. The Guarantor waives acceptance, demand, notice of acceptance, and all other notices to which it may be entitled. No modification of the
Agreement and no indulgence or change in terms of performance under the Agreement shall release the Guarantor from this guarantee. Steven may fail to obtain or continue or perfect or continue the perfection of any security interest or lien in any
collateral or release any collateral from any lien or any security interest without reducing or affecting the liability of the Guarantor. Steven may proceed against it for payment of the Guaranteed Obligations under the Agreement without taking any
action against UCDP or any other party, or proceeding against or applying any security Steven may hold. The Guarantor consents to be joined as party to any arbitration conducted pursuant to the Agreement and that judgment on any award in any such
arbitration may be enforced against the Guarantor in any court of competent jurisdiction. 
 3. Demand for Payment under Guarantee.
Notwithstanding anything to the contrary herein, a demand for payment against the Guarantor hereunder shall be made pursuant to the following sequence of events and subject to the following procedures and requirements: 
 (i) First, 5 Business Days shall have expired after demand for payment upon UCDP is made by Steven with notice to the Guarantor; the payment by UCDP shall
then be due under the Agreement and such payment shall not have been made by UCDP within such 5- Business Day period; 

 (ii) Second, after the expiration of the foregoing 5- Business Day period, an additional 20 Business Days
shall have expired after demand for payment upon each of (i) Universal Studios, Inc. (as successor to MCA Inc. (in such capacity, “Universal Studios”) under the Guarantee dated as of November 4, 1988 (the “Original
Guarantee”) executed by MCA Inc. and Cineplex Odeon Corporation (“Cineplex”)), and (ii) Cineplex, is made by Steven, in each case, with notice to the Guarantor; the payment by each of Universal Studios and Cineplex shall then be
due under the Original Guarantee, and such payment shall not have been made by Universal Studios and/or Cineplex within such 20- Business Day period; and 
 (iii) Third, upon failure by UCDP, Universal Studios and/or Cineplex to pay amounts equal to the Guaranteed Obligation in accordance with the foregoing clauses (i) and (ii) and the expiration of
the foregoing periods, the Guarantor shall, within 20 Business Days after a subsequent written demand by Steven identifying (x) the amount not so paid, (y) the applicable provisions of the Agreement which provide for the payment and
(z) the expiration of the time periods and satisfaction of the requirements set forth in clauses (i) and (ii) above, pay any such unpaid amounts to Steven at the place and in the manner specified in the written demand. 
 As used in this Section 3, “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York
City are authorized or required by law to remain closed. 
 4. Steven Agreement. Steven will give the Guarantor not less than 10 days’
prior written notice of any written amendment to the Agreement which increases or advances UCDP’s payment obligations thereunder, provided that (a) the failure to give such notice shall not void Guarantor’s obligation and (b) if
Steven does not give such notice, Guarantor’s Guaranteed Obligations hereunder shall not be greater than its Guaranteed Obligations were without such amendment. 
 5. Subrogation. Upon Steven receiving payment in full of the Guaranteed Obligations hereunder, the Guarantor shall be subrogated to, and Steven hereby assigns to the Guarantor (without recourse or
warranty, express or implied), Steven’s rights against UCDP and against any other party which shall have provided to Steven a guaranty with respect to such Guaranteed Obligations, and Steven will, at the sole expense of the Guarantor, execute
and deliver to the Guarantor such documents as the Guarantor shall reasonably request to evidence such subrogation and assignment. 
 6.
Representations and Warranties. The Guarantor represents and warrants to the Beneficiary that: 
 (a) the Guarantor is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization; 
 (b) the execution, delivery and performance by the
Guarantor of this Guarantee are within the Guarantor’s corporate powers and have been duly authorized by all necessary corporate and, if required, stockholder action; 
 (c) this Guarantee has been duly executed and delivered by the Guarantor and constitutes a legal, valid and binding obligation of the Guarantor, enforceable in accordance with its terms, subject to
applicable bankruptcy,

 
insolvency, reorganization, moratorium, and other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in
equity or at law; 
 (d) the execution, delivery and performance of this Guarantee (i) do not require any consent or approval of,
registration or filing with, or other action by, any governmental authority, except such as have been obtained and are in full force and effect, and (ii) will not violate any applicable law or regulation or the charter, by-laws or other
organizational documents of the Guarantor or any order of any court or governmental authority. 
 7. Notices. All notices and other
communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, or sent by telecopy, as follows: (i) if to the Guarantor, to it at NBC Universal, Inc.,
30 Rockefeller Plaza, New York, NY 10012, Attention of Christy Rupert Shibata, Executive Vice President, Financial Planning and Analysis (Telecopier No. (212) 664-5251), with a copy to NBC Universal, Inc., 30 Rockefeller Plaza, New York, NY
10112, Attention of Scott Seeley, Senior Vice President, Corporate & Transactions Law (Telecopier No. (212) 664-2147) and (ii) if to Steven, at Gang Tyre Ramer and Brown, Inc., 132 S Rodeo Dr., Beverly Hills, CA 90212, Attention
of Bruce Ramer and Harold Brown, Telecopier Nos. (telecopy to be sent to both numbers): (310) 777-7000 and (310) 777-7005, with a copy to Breslauer, Rutman and Anderson, 11400 West Olympic Blvd, Suite 550, Los Angeles, CA 90064-1551,
Attention of Gerald Breslauer and Mickey Rutman, Telecopier Nos. (telecopy to be sent to both numbers): (310) 481-3601 and (310) 481-3615. Each party hereto may change its address or telecopier number for notices and other communications
hereunder by notice to the other party. All notices and other communications given in accordance with the provisions of this Guarantee will be deemed to have been given on the date of receipt. 
 8. No Waiver. No failure or delay by either party in exercising any right, power or privilege under this Guarantee shall operate as a waiver thereof by such
party nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 
 9. Amendments and Waivers. Any provision of this Guarantee may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Beneficiary and the Guarantor. 

10. Successors and Assigns. This Guarantee shall be binding upon the Guarantor and its successors and assigns, for the benefit of Steven and its
successors and permitted assigns, except that the Guarantor may not transfer or assign any or all of its rights or obligations hereunder without the prior written consent of Steven. 
 11. Governing Law. This Guarantee shall be construed in accordance with and governed by the law of the State of New York. 
 12. Attorneys Fees. In the event either Steven or the Guarantor commences any proceeding against the other party with respect to this Guarantee, the parties agree that the prevailing party (as determined
by the authority before whom such proceeding is commenced) shall be entitled to recover reasonable attorneys’ fees and costs as may be incurred in connection therewith in addition to any such other relief as may be granted. 
 13. Counterparts. This Guarantee 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. 
 [Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this Guarantee to be duly executed by their respective
authorized officers as of the day and year first above written. 
  

			
	NBC UNIVERSAL, INC.
		
	By:	 	/s/ Lynn Calpeter
	Name:	 	Lynn Calpeter
	Title:	 	Executive Vice President and Chief Financial Officer

 Agreed to and accepted as of the date 
 first written above by: 
  

	
	
	/s/ Steven Spielberg
	STEVEN SPIELBERG

  

			
	DIAMOND LANE PRODUCTIONS, INC.
		
	By:	 	/s/ Steven Spielberg
	Name:	 	Steven Spielberg
	Title:	 	President  ̈

 Appendix C to the Amendment 
 Universal City Development Partners, Ltd. 
 Intercreditor
Agreement 
 Summary of Principal Terms and Conditions 
  

	 Certain Definitions: 
	“Company” means Universal City Development Partners, Ltd. “First Lien Obligations” means all obligations of the Company and any subsidiary guarantor (a “Guarantor”)
in respect of the Amended and Restated Credit Agreement dated as of [_], 2009(the “Credit Agreement”) together with any interest swap agreement, letter of credit reimbursement agreement, cash management agreement or other agreement related
to customary bank products (if and to the extent permitted under such Credit Agreement to be pari passu therewith), and (subject to the limitations specified below) any amendment, restatement or other modification thereof and any refinancing thereof
or replacement therefor (collectively, the “Senior Credit Facility”) 

  

	 	“First Lien Secured Parties” means the holders of the First Lien Obligations. 

 “Second Lien Obligations” means all obligations of the Company in respect of the Florida Project, as defined in, and arising under the consulting agreement dated as of January 20, 1987 between
the Company and Steven Spielberg (as amended and in effect from time to time, subject to the limitations specified below). 
 “Second Lien Secured Parties” means the payee or payees of the Second Lien Obligations from time to time. 
 “Secured Parties” means the First Lien Secured Parties and Second Lien Secured Parties, collectively, and “Secured Party” means any one of them. 
  

	 Priority of Liens/Prohibition on Contesting Liens: 
	So long as any of the First Lien Obligations are outstanding, the liens securing the Second Lien Obligations shall be junior and subordinated in all respects to the liens securing the First Lien
Obligations. No Secured Party shall contest the priority, validity or enforceability of any lien held by or on behalf of any other Secured Party. The Intercreditor Agreement shall recite that the liens securing the Second Lien Obligations shall be
subordinated only to (i) the liens securing the First Lien Obligations, (ii) liens permitted by and prior to the First Lien Obligations, (iii) liens permitted under the Senior Credit Facility as incremental secured debt with respect to all
outstanding term loans, first lien notes and indebtedness pursuant to any second lien facility (collectively, the “Incremental Obligations”) and (iv) liens that have priority by law, and to no other liens. The Intercreditor Agreement will
provide that the First Lien Obligations and the Incremental Obligations will not be incurred in an aggregate amount in excess of the Secured Debt Limit (as defined below). 

  

	 No New Liens/Similar Liens: 
	 The Collateral securing the First Lien Obligations and the Collateral securing the Second Lien Obligations shall be identical insofar as such Collateral is comprised of tangible personal and
real property owned by the Company, but the Collateral for the Second Lien Obligations excludes other types or forms of Collateral granted to secure the First Lien Obligations, including

	 	 
the Company’s intellectual property. The liens with respect to the Collateral securing the First Lien Obligations and the Second Lien Obligations shall be granted pursuant to separate
security documentation. So long as any of the First Lien Obligations are outstanding, neither the Company nor any of its subsidiaries shall (i) grant or permit any additional liens on any asset or property to secure the Second Lien Obligations
unless it has granted a senior lien on such assets or property to secure the First Lien Obligations, or (ii) grant or permit any additional liens on any asset or property in the applicable asset classes to secure the First Lien Obligations unless it
has granted a junior lien on such assets or property to secure the Second Lien Obligations, other than with respect to assets or property as to which the Company may be prohibited from granting a junior lien to secure the Second Lien Obligations.

  

	 Enforcement: 
	After the expiration of the Standstill Period (180 days from the date of a default under the First Lien Obligations and the Second Lien Obligations which has continued beyond the expiration of
all applicable grace or cure periods, if any), the Second Lien Secured Parties may exercise any of their rights or remedies with respect to the Collateral unless the First Lien Secured Parties shall have commenced and be diligently pursuing the
exercise of any of their rights or remedies with respect to the Collateral. 

  

	 Application of Proceeds/Turn-over: 
	So long as any of the First Lien Obligations are outstanding, any Collateral or the proceeds thereof received in connection with the sale or other disposition of such Collateral in connection
with the exercise of remedies shall be applied to the First Lien Obligations, and any Collateral and the proceeds thereof received by any Second Lien Secured Party in contravention of the Intercreditor Agreement shall be segregated and held in trust
and shall be applied to the First Lien Obligations. To the extent permitted by law, once proceeds received in connection with the sale or other disposition of such Collateral in connection with the exercise of remedies have been applied to fully
satisfy any prior obligations, any excess proceeds (if any) received in connection therewith shall be applied to the Second Lien Obligations, up to the amount of such Second Lien Obligations. 

  

	 Releases and Subordination: 
	In the event that the First Lien Secured Parties release their lien on all or any portion of Collateral (each, a “Release”) in connection with (i) the enforcement or exercise of any
rights or remedies on behalf of the First Lien Secured Parties in respect of the Collateral or (ii) any sale or other disposition of any Collateral permitted under the Senior Credit Facility, the comparable lien in respect of the Second Lien
Obligations shall be automatically released. 

 In addition, in the event that the First Lien Secured Parties
release or subordinate their lien on all or any portion of Collateral in connection with any other transaction (including any third party capital lease financing) permitted under the Senior Credit Facility, the comparable lien in respect of the
Second Lien Obligations shall be automatically released or subordinated, as applicable. 
 The security documentation executed
in connection with the Second Lien Obligations shall state that, in the event of the refinancing of any of the First Lien Obligations, the lien of such security documentation executed in connection with such Second Lien Obligations shall
automatically be subordinated to the lien of

	 	 
any new security documentation executed in connection with such refinanced First Lien Obligations. The Second Lien Secured Parties shall execute a subordination agreement confirming such
subordination (but no failure to execute such a subordination agreement shall affect the validity or enforceability of such subordination) as well as an Intercreditor Agreement with the new First Lien Secured Parties similar to the Intercreditor
Agreement contemplated hereby. 

 The Second Lien Secured Parties shall execute an irrevocable, unconditional
and recordable General Power of Attorney in favor of the First Lien Secured Parties (or in favor of their Agent), pursuant to which the Second Lien Secured Parties shall authorize the First Lien Secured Parties (or their Agent) to execute and
record, in the name and on behalf of the Second Lien Secured Parties, such a release and/or subordination each time that the First Lien Secured Parties execute and record a similar such release and/or subordination. 
  

	 Amendments to Loan Documents: 
	The Intercreditor Agreement will restrict amendments to (i) the Senior Credit Facility, but only if the same would result in the maximum principal amount of term loans and revolving commitments
thereunder and any Incremental Obligations permitted thereunder exceeding an amount equal to the greater of $975 million and an amount equal to the product of 3.75 times the EBITDA of the Company (determined at the time of incurrence of any such
term loans or at the time of increasing any such revolving commitments, or at the time of incurring any such Incremental Obligations, as the case may be, with “EBITDA” being defined in and calculated pursuant to the relevant provisions of
Senior Credit Facility) (such requirement, the “Secured Debt Limit”), and (ii) the Second Lien Obligations which would increase amounts payable thereunder, accelerate the time for payment of amounts due thereunder or otherwise materially
increase the obligations of the Loan Parties thereunder or disadvantage the holders of the First Lien Obligations, except as specifically permitted. Amendments to the Second Lien Obligations that affect payments due or potentially due more than six
months after the maturity of the loans under the Senior Credit Facility would be permitted and any amendments to or waivers of the security documentation for the First Lien Obligations would automatically apply to any parallel provisions of the
security documentation for the Second Lien Obligations, subject to customary exceptions. 

  

	 Rights As Unsecured Creditors: 
	Except as otherwise set forth in “Enforcement” above, the Second Lien Secured Parties may exercise rights and remedies as unsecured creditors against the Company.

  

	 Bankruptcy: 
	DIP Financing: In the event of an insolvency or liquidation proceeding of the Company or any Guarantor, whether voluntary or involuntary, if the First Lien Secured Parties desire to permit the
use of cash collateral or to permit the Company to obtain any post-petition financing (a “DIP Financing”), then the Second Lien Secured Parties will not object to such use of such cash collateral or any liens securing a DIP Financing and,
to the extent the liens securing the First Lien Obligations are subordinated or pari passu with such DIP Financing, the liens securing the Second Lien Obligations shall be subordinated to the liens securing such DIP Financing (and all obligations
relating thereto). The Second Lien Secured Parties do not otherwise waive any of their rights under applicable insolvency or liquidation law. 

 Automatic Stay: So long as any of the First Lien Obligations are outstanding, the Second
Lien Secured Parties shall not seek relief from the automatic stay or any other stay in any bankruptcy proceeding in respect of the Collateral, without the prior written consent of the First Lien Secured Parties. 
 Adequate Protection: The Second Lien Secured Parties shall not contest (or support any other person contesting) (a) any request by the First
Lien Secured Parties for adequate protection or (b) any objection by the First Lien Secured Parties to any motion, relief, action or proceeding based on the First Lien Secured Parties or the Agent on their behalf claiming a lack of adequate
protection; provided, that if the First Lien Secured Parties are granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral, then the Second Lien Secured Parties or the Agent on
their behalf may seek or request adequate protection in the form of a lien on such additional collateral, which lien will be subordinated to the liens securing the First Lien Obligations and such DIP Financing. 
 Voting for Plan of Reorganization: The First Lien Secured Parties and the Second Lien Secured Parties shall be entitled to vote as a
separate class on any plan of reorganization in connection with any bankruptcy proceeding.Indemnity Agreement

 Exhibit 10.53 
 INDEMNITY 
 This Indemnity (this “Indemnity”) is
made as of March 6, 2003, by Vivendi Universal Entertainment LLLP, a Delaware limited liability limited partnership (“VUE”), in favor of Universal City Development Partners, Ltd., a Florida limited partnership (“UCDP”). All
capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the 
 Consultant Agreement (as
defined below). 
 W I T N E S S E T H: 
 WHEREAS, UCDP, as successor to Universal City Florida Partners, and Diamond Lane Productions, as successor-in-interest to Steven Spielberg (the “Consultant”), are parties to an agreement, dated
as of January 20, 1987 (the “Consultant Agreement”), relating to the Consultant's rendering of services as a creative consultant in connection with the Florida Project; 
 WHEREAS, the Consultant Agreement provides that the Consultant receive certain payments for serving as a consultant to the Comparable
Project known as Universal Studios Japan (the “Japan Project”) as well as other Comparable Projects; 
 WHEREAS, VUE
beneficially owns 50% of UCDP and is a party to a contribution agreement, dated as of May 7, 2002, whereby VUE agreed to assume, among other things, certain liabilities relating to the recreation businesses of UCDP, including the guarantee of
the performance by UCDP of its obligations to the Consultant under the Consultant Agreement; 
 NOW, THEREFORE, for good and
valuable consideration, the receipt, adequacy and legal sufficiency of which VUE hereby acknowledges, VUE hereby covenants and agrees as follows: 
 Section 1. Indemnity. 
 (a) VUE hereby agrees to indemnify, defend and hold
harmless UCDP from and against any out-of-pocket expenses, liability or loss incurred by it during the Term of this Indemnity and related to a “Consultant Claim.” A “Consultant Claim” is a claim made by the Consultant which claim
arises solely under the Consultant Agreement, but only to the extent that it relates to (i) the Japan Project or (ii) any other Comparable Project. For purposes of clarity, no facility owned or controlled by UCDP is a “Comparable
Project” for purposes of this Section 1(a). 
 (b) UCDP shall give VUE written notice as promptly as practicable (but
in no event later than ten days after receiving notice) of the assertion by the Consultant of any Consultant Claim, provided that the failure to provide such notice shall not relieve VUE from its obligations hereunder unless and to the extent that
such failure results in the loss by VUE of material rights or defenses. Upon receipt of such written notice, VUE shall promptly (but in no case later than 30 days after receiving the notice from UCDP) notify UCDP that it will assume responsibility
for such claim as a Consultant Claim, or notify UCDP that such claim is not a Consultant Claim. On VUE’s assumption of responsibility for a Consultant Claim, VUE shall have the sole and exclusive power to direct and control the defense of, and
shall have the sole and exclusive right to settle or compromise, such Consultant Claim and VUE shall not 
 be liable to

 
UCDP for any attorneys’ fees or other expenses incurred by UCDP after such assumption of liability in connection with the defense of such Consultant Claim. UCDP shall, upon VUE's request,
execute all papers reasonably required and shall take all actions reasonably necessary to secure the rights of VUE, including the execution of such documents necessary to enable VUE to assert in the name of UCDP such rights, claims, counterclaims or
defenses that UCDP would be or would have been permitted to assert against such Consultant Claim. In addition, UCDP shall use all reasonable efforts to make available to VUE such assistance and cooperation in support of VUE's defense as VUE may
reasonable request, including making available any personnel or any books, records or other documents within UCDP's control or which UCDP otherwise has the ability to make available that VUE reasonably believes is necessary or appropriate for such
defense. 
 (c) If UCDP shall receive any amounts of insurance proceeds or any other monies from a third party in connection
with any Consultant Claim, then such monies shall be promptly paid to VUE. 
 (d) VUE shall not take any action which would
prevent UCDP from delivering the notice required under Section 1(b) hereof. 
 Section 2. Amendments. Neither VUE nor
UCDP may amend or waive any provision of this Indemnity and no consent to any departure by such party therefrom shall in any event be effective unless the same shall be in writing and signed by the other party hereto, and in the case of UCDP
approved by the Parks Advisory Board (or the comparable successor body) and then such waiver or 
 consent shall be effective only in the
specific instance and for the specific purpose for which given. 
 Section 3. Notices. All notices, requests, claims,
demands or other communications by either party hereunder must be in writing and will be deemed to have been duly given only if delivered personally, by facsimile transmission or by internationally recognized courier to the recipient at the
following address or facsimile number: 
  

					
	 	  	 VUE:
	  	 Vivendi Universal Entertainment LLLP
 100 Universal City Plaza
 Universal City, California 91608
 Attention: General Counsel
 Facsimile:
(818) 866-3444

			
		  	 with a copy to:
	  	 Munger, Tolles & Olson LLP
 355 South Grand Avenue
 35th Floor
 Los Angeles, California 90071
 Attention: Ruth E. Fisher
 Facsimile: (213) 687-3702

 : 

	

  

 2 

					
			
	 	 	UCDP:	  	 Universal City Development Partners, Ltd.
 1000 Universal Studios Plaza
 Orlando, Florida 32819-7610
 Attention: Vice President, Legal Affairs
 Facsimile:
(407) 363-8219

 All such notices, requests, claims, demands or other communications will (i) if delivered by
facsimile transmission, be deemed given upon electronic confirmation of receipt and (ii) if delivered personally or by internationally recognized courier, be deemed given upon actual receipt by the General Counsel of VUE. 
 Section 4. No Waiver; Remedies. No failure on the part of either VUE or UCDP to exercise, and no delay in exercising, any right
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not
exclusive of any remedies provided by law. 
 Section 5. Continuing Indemnity; Assignments. This Indemnity is a continuing
indemnity and shall remain in full force and effect from the date hereof to the date, if ever, on which the Consulting Agreement is terminated or there are no Comparable Projects for which UCDP might be liable, directly or indirectly (such period,
the “Term”). This Indemnity shall (a) be binding upon VUE and its successors and permitted assigns and (b) inure to the benefit of and be enforceable by UCDP and its successors and permitted assigns. Neither VUE nor UCDP may
assign or otherwise transfer any of its rights or obligations under this Indemnity without the prior written consent of the other party hereto. 
 Section 6. No Third-Party Beneficiaries. The terms and provisions of this Indemnity are intended solely for the benefit of each party hereto and their respective successors or permitted assigns, and
it is not the intention of the parties to confer third-party beneficiary rights upon any other person. 
 Section 7.
Dispute Resolution. Any controversy, claim or dispute arising out of or related to this Indemnity, or the interpretation, performance or breach hereof, including but not limited to alleged violations of state or federal statutory or common law
rights or duties, shall be resolved according to the procedures set forth in Annex A hereto, which shall constitute the sole and exclusive dispute resolution mechanism hereunder; except that a claim for equitable relief may only be filed in and
heard before the United States 
 District Court for the Central District of California or, if that court lacks subject matter jurisdiction, only
in and before the Superior Court of the State of California for the County of Los Angeles. A party need not comply with the informal dispute resolution and mediation requirements of Annex A before filing a claim for equitable relief. 
 Section 8. Governing Law. This Indemnity shall be governed by the laws of the State of California applicable to contracts made within,
and to be performed in, the State of California. 

	

  

 3 

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Indemnity as of the
date first above written. 
  

					
	VIVENDI UNIVERSAL ENTERTAINMENT LLLP
		
	By:	 	 /s/ Karen Randall

		 	Name:	 	Karen Randall
		 	Title:	 	Executive Vice President

  

											
	 Agreed and acknowledged on
 this March 6, 2003 by
 Universal City Development
 Partners, Ltd.

	By:	 	Universal City Florida Holding Co. II,
		 	as General Partner
		 	By:	 	 Universal City Property Management
 II LLC, as General Partner.

		 		 	By:	 	 /s/ Catherine Roth

		 		 		 	 Name:
	 	Catherine Roth
		 		 		 	 Title:
	 	Vice President
		 		 	By:	 	Blackstone UTP capital partners
		 		 		 	L.P., Blackstone UTP Capital
		 		 		 	Partners A L.P., Blackstone UTP
		 		 		 	Offshore Capital Partners L.P. and
		 		 		 	Blackstone Family Media
		 		 		 	Partnership III L.P.,
		 		 		 	as General Partners

																	
		 		 		 		 		 	By:	 	 Blackstone Media
 Management Associates III
 L.L.C., as General Partner of
 each of the foregoing entities

		 		 		 		 		 		 	By:	 	 /s/Howard Lipson

		 		 		 		 		 		 		 	Name:	 	
		 		 		 		 		 		 		 	Title:	 	

	

  

 4 

 ANNEX A 
 DISPUTE RESOLUTION 
 VUE and UCDP are referred to herein as the
“Parties” and individually as a “Party”. 
 1. Exclusive Procedures. Any controversy, claim or dispute
arising out of or related to this Indemnity, or the interpretation, performance or breach hereof, including but not limited to alleged violations of state or federal statutory or common law rights or duties (a “Dispute”), shall be resolved
according to the procedures set forth in this Annex A. These procedures constitute the sole and exclusive dispute resolution mechanism to resolve all Disputes and no other procedure, including, without limitation, litigation in court, may be used
except as expressly provided in this Indemnity or the following paragraphs. Each Party’s promise to resolve all Disputes as set forth herein is given in consideration for the other Parties’ like promise. 
 Any Dispute or portion thereof, or any claim for a particular form of relief (not otherwise precluded by any provision of this Indemnity),
that may not be arbitrated pursuant to applicable law may be heard in a court of competent jurisdiction in Los Angeles County, California. If a Party believes in good faith that all or part of a Dispute, or any claim for relief or remedy sought, is
not subject to arbitration under then-prevailing law, then it may bring such a claim in arbitration, and the arbitrator shall have the jurisdiction to determine whether the matter is arbitrable (which decision shall be appealable to the panel of
arbitrators pursuant to Section 4.C(v) below), unless then-prevailing law requires a court to determine arbitrability. If then-prevailing law requires a court to determine arbitrability, then a Party may seek a determination to that effect from
an appropriate court, except that no such action may be brought unless the Party has first complied with the informal dispute resolution requirements of Section 3 below. If the arbitrator or court determines that the matter is not arbitrable or
that the remedy sought is not available in arbitration, then the specific matter or request for remedy in question may be resolved by the court without a jury, and the Parties hereby irrevocably waive their respective rights to trial by jury of any
cause of action, claim, counterclaim or cross-complaint in any action or other proceeding brought by any Party against any other Party or Parties with respect to any matter arising out of, or in any way connected with or related to, this Indemnity
or any portion hereof, whether based upon contractual, statutory, tortious or other theories of liability. All other matters and claims for relief shall be subject to arbitration as set forth herein. 
 2. Confidentiality. The details and/or existence of any Disputes, any informal meetings and arbitration proceedings conducted hereunder, and
any discovery taken in connection with any arbitration, shall be kept strictly confidential and shall not be disclosed or discussed with any third party (excluding a Party’s attorneys, accountants, and other agents and representatives, as
reasonably required in connection with any Dispute resolution procedure hereunder), except as otherwise required by law. In the event that any Party receives a subpoena or other request for information from a third party for such confidential
information, the recipient shall promptly notify the other Party and shall provide such Party with the opportunity to object to the production of its confidential information. 
  

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 3. Informal Dispute Resolution. The Parties shall attempt, whenever possible, to discuss and
resolve any Disputes on an informal basis, in order to avoid the expense and delay associated with arbitration. A Party invoking these dispute resolution procedures shall deliver a notice to the other Party (a “Dispute Notice”) of the
claims it intends to bring and the relief sought, including sufficient details regarding the factual, contractual or other legal bases for the Party's claim as reasonably required to enable the Party receiving the Dispute Notice to evaluate the
claim and respond thereto. 
 Upon delivery of a Dispute Notice, the Parties shall promptly schedule one or more meetings (the
first meeting to be held within five days of delivery of the Dispute Notice), to discuss and attempt in good faith to resolve all Disputes described in the Dispute Notice(s). Such meetings shall be attended by the Parties or their representatives
with full authority to settle the Disputes at issue. 
 All offers, promises, conduct and statements, whether oral or written,
made in the course of the Parties’ attempt to informally resolve a Dispute, whether made by the Parties, their agents, employees, experts or attorneys, shall be confidential, privileged and inadmissible for any purpose, including impeachment,
in any litigation, arbitration (including, without limitation, arbitration pursuant to the following section hereof) or other proceeding. 
 4. Arbitration. 
 A. Initiation. If the Parties are unable to
resolve one or more Disputes on an informal basis as contemplated by Section 3, a Party may initiate a binding arbitration proceeding for the final resolution of such remaining Dispute(s) by delivering a notice to the other Party(ies) (an
“Arbitration Notice”) describing the Dispute(s) to be arbitrated. An Arbitration Notice can be delivered at any time after ten days from delivery of a Dispute Notice or, in the case of a request for provisional remedies (including
injunctive relief), at any time after the delivery of a Dispute Notice. Within fifteen days of receiving an Arbitration Notice, the receiving Party may deliver its own Arbitration Notice, specifying additional Disputes to be submitted to
arbitration. If more than one Dispute is to be arbitrated, the subject matters of the various Disputes need not be related to each other. There shall also be no requirement that Disputes or claims that would be considered either compulsory or
permissive counterclaims under any law or rule of procedure must be made or resolved in a single arbitration proceeding. Nothing in this Section 4.A shall relieve, amend or constitute a waiver of the Parties’ obligations under Section 3.

 B. Arbitrator/Place of Arbitration. The arbitration, which shall take place in Los Angeles County, shall be
administered by the Los Angeles office of JAMS/Endispute (“JAMS”), or any successor thereof, in accordance with the JAMS Comprehensive Arbitration Rules and Procedures (the “JAMS Rules”), except as otherwise provided herein. The
arbitration shall be held before and decided by a single neutral arbitrator (the “Arbitrator”). The Arbitrator shall be a person familiar with complex business transactions and litigation, selected in accordance with the JAMS Rules. The
arbitration hearing shall commence no later than sixty days after the delivery of an Arbitration Notice, unless the Arbitrator for good cause sets a later date. 
  

 A-2 

 C. Arbitration Procedures. The following procedures shall apply to the
arbitration. To the extent that any issue is not addressed herein, the appropriate provisions of the JAMS Rules shall apply. 
 (i) Discovery. The Parties shall be entitled to undertake discovery in the arbitration as determined by the Arbitrator; provided, that, such discovery shall be limited to (a) five witness depositions
plus the depositions of any expert designated by the other Party, (b) thirty interrogatories, (c) thirty document requests and (d) ten requests for admissions. The Arbitrator shall have the authority to hear and rule upon all
discovery motions and, in connection therewith, to award sanctions as appropriate in accordance with then-prevailing California law. 
 (ii) Motions. The Arbitrator shall have the authority to schedule, hear and determine any and all motions (including prehearing and posthearing motions), including, without limitation, motions to dismiss,
for judgment on the pleadings, and for summary judgment or adjudication on any or all of the claims, issues or facts in dispute, and shall do so on the motion of any Party. 
 (iii) Remedies. Upon motion of a Party, the Arbitrator shall have the authority, to the extent permitted by law, to enter an
interlocutory award granting temporary, preliminary or provisional remedies (including injunctive relief) in order to maintain the status quo pending conclusion of the arbitration proceedings. The Arbitrator shall have the authority in the Award (as
defined below) to grant any compensatory and equitable relief he or she deems appropriate, including the award of costs and fees, specific performance, injunctive relief or any other form of equitable relief; provided, that, the Arbitrator may not
award special, incidental, consequential or punitive damages. To the extent that applicable law does not permit an arbitrator to enter injunctive or any other equitable relief, any aggrieved Party may apply to any court of competent jurisdiction in
the County of Los Angeles for such relief, but a court may not award any monetary relief whatsoever. 
 (iv)
Award. The Arbitrator shall render a written award (the “Award”) no later than thirty days after the end of the hearing or after completion of any post-hearing briefing that the Arbitrator shall order or permit, whichever is later. The
Award shall completely dispose of all Disputes submitted to the Arbitrator and shall include findings of fact and conclusions of law. In all his or their substantive (as opposed to procedural or discovery-related) rulings, the Arbitrator and Appeal
Panel shall apply the law specified in the choice of law provision of this Indemnity. 
 (v) Appellate Review.
The Parties agree that any Award, including an Award rendered following remand after appellate review hereunder, shall be subject to review according to the Optional Appeal Procedure of the JAMS Rules, as modified herein. The Appeal Panel shall be
composed of three retired judges or justices of any California State or federal court, selected in accordance 
  

 A-3 

 
with the JAMS Rules. The Arbitrator who rendered the Award being reviewed shall not be eligible to serve on the Appeal Panel. 
 The Appeal Panel may review all issues of fact and law specified in the notice of appeal and any cross-appeal, as if the
appeal were being heard and decided by a panel of the California Court of Appeal reviewing a judgment of a California Superior Court in a civil action. The review shall be conducted in accordance with the procedures set forth in the California Code
of Civil Procedure and California Rules of Court applicable to appeals from judgments in general commercial cases from California Superior Courts to the California Courts of Appeal. After briefing and any oral argument by the Parties that the Appeal
Panel deems necessary, the Appeal Panel shall render a written decision, which may affirm or reverse the Award in whole or in part and may note any specific evidence that the Arbitrator should consider or other actions to be taken upon remand, if
necessary. At the conclusion of any post-appeal proceedings before the Arbitrator that are required by the Appeal Panel’s decision, the Arbitrator shall issue a new Award, which shall be subject to appeal hereunder. 
 D. Binding; Notice of Final Award; Confirmation. The Arbitrator's Award, as modified, if applicable, following one or more
appeals pursuant to Section 4.C(v) above, shall become final and fully binding upon the Parties (the “Final Award”) after the expiration of any applicable time limit in which to appeal expires without a Party invoking the appellate
review process (the “Final Award Date”). The Parties shall have thirty days from the Final Award Date in which to perform all obligations applicable to them under the Final Award. If a Party fails to perform any obligation under the Final
Award within such thirty day period, then the other Party may apply to any court of competent jurisdiction in the County of Los Angeles for confirmation of the Final Award. 
  

 A-4

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