Document:

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                                                                   Exhibit 10.12

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                  AMENDED AND RESTATED JOINT VENTURE AGREEMENT

                                  BY AND AMONG

                    LOEWS CINEPLEX ENTERTAINMENT CORPORATION

                                       AND

                   LOEWS CINEPLEX INTERNATIONAL HOLDINGS, INC.

                                       AND

                                 MEDIAPLEX, INC.

                                       AND

                             MEGABOX CINEPLEX, INC.

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                                TABLE OF CONTENTS

<TABLE>
<S>                                                                         <C>
ARTICLE I DEFINITIONS ................................................        2
   Section 1.1.   Definitions ........................................        2

ARTICLE II ORGANIZATION OF THE COMPANY ...............................        2
   Section 2.1.   Organizational Documents; Shareholder Resolutions. .        3
   Section 2.2.   Purpose. ...........................................        3

ARTICLE III EFFECTIVENESS OF PRIOR AGREEMENTS ........................        3
   Section 3.1.   Replacement of Prior Agreements. ...................        3
   Section 3.2.   Conditional Effectiveness. .........................        3

ARTICLE IV CAPITAL CONTRIBUTIONS .....................................        4
   Section 4.1.   Subsequent Capital Contributions. ..................        4

ARTICLE V REPRESENTATIONS AND WARRANTIES .............................        4

ARTICLE VI CORPORATE GOVERNANCE; CERTAIN CORPORATE ACTIONS ...........        4
   Section 6.1.   Voting of Shares. ..................................        4
   Section 6.2.   Composition of the Board of Directors. .............        5
   Section 6.3.   Representative Directors, Chief Operating Officer,
                  Chief Financial Officer and Statutory Auditor ......        5
   Section 6.4.   Approval of Certain Matters. .......................        6

ARTICLE VII TRANSFER AND SALE ........................................        8
   Section 7.1.   Transfer Restrictions. .............................        8
   Section 7.2.   Consent. ...........................................        8
   Section 7.3.   First Refusal. .....................................        8
   Section 7.4.   Tag-Along Rights. ..................................       10

ARTICLE VIII COVENANTS OF THE PARTIES ................................       11
   Section 8.1.   Access. ............................................       11

article IX CERTAIN AGREEMENTS ........................................       11
   Section 9.1.   Non-Competition. ...................................       11
   Section 9.2.   Access to Company. .................................       12
   Section 9.3.   Financial Reporting Obligations ....................       12
   Section 9.4    Related Party Transactions. ........................       13
</TABLE>

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<TABLE>
<S>                                                                        <C>
   Section 9.5    Excess Cash Distributions. .........................       13
   Section 9.6    Sale of Shares by Means of Public Offering. ........       14

ARTICLE X CONDITIONS TO CLOSING ......................................       14

ARTICLE XI INDEMNIFICATION ...........................................       14
   Section 11.1.  Survival ...........................................       14
   Section 11.2.  Losses .............................................       14
   Section 11.3.  Indemnification by Mediaplex .......................       14
   Section 11.4.  Indemnification by LCE .............................       15
   Section 11.5.  Indemnification by the Company. ....................       15
   Section 11.6.  Claims .............................................       16
   Section 11.7.  Contribution. ......................................       16

ARTICLE XII TERMINATION AND LIQUIDATION ..............................       16
   Section 12.1.  General. ...........................................       16
   Section 12.2   Termination by LCE. ................................       17
   Section 12.3.  Termination by Mediaplex. ..........................       17
   Section 12.4.  Termination by Mutual Agreement. ...................       17
   Section 12.5.  Remedies upon Termination. .........................       18

ARTICLE XIII GENERAL .................................................       18
   Section 13.1.  Arbitration ........................................       18
   Section 13.2.  Notices. ...........................................       19
   Section 13.3.  Assignment; Binding Effect; Benefit. ...............       20
   Section 13.4.  Confidentiality. ...................................       21
   Section 13.5.  Entire Agreement. ..................................       21
   Section 13.6.  Amendment. .........................................       21
   Section 13.7.  Counterparts. ......................................       21
   Section 13.8.  Headings. ..........................................       21
   Section 13.9.  Interpretation. ....................................       21
   Section 13.10. Incorporation of Exhibits and Schedules. ...........       22
   Section 13.11. Severability. ......................................       22
   Section 13.12. Enforcement of Agreement. ..........................       22
</TABLE>

APPENDIX A - Definitions

APPENDIX B - Representations and Warranties

EXHIBITS

Exhibit 2.1 - Amended and Restated Articles of Incorporation

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                  AMENDED AND RESTATED JOINT VENTURE AGREEMENT

            THIS AMENDED AND RESTATED JOINT VENTURE AGREEMENT, dated as of July
25, 2002 (this "Agreement"), by and among Megabox Cineplex, Inc., a corporation
established under the laws of the Republic of Korea and having its offices at
7F, Cinehouse B/D, 91-6 Nonhyun-dong, Kangnam-ku, Seoul, Republic of Korea
(hereinafter the "Company"), Mediaplex, Inc., a corporation established under
the laws of the Republic of Korea and having its offices at 7F, Cinehouse B/D,
91-6 Nonhyun-dong, Kangnam-ku, Seoul, Republic of Korea (hereinafter
"Mediaplex"), Loews Cineplex Entertainment Corporation, a corporation
established under the laws of the State of Delaware, United States of America,
and having its offices at 711 Fifth Avenue, New York, NY 10022, U.S.A
(hereinafter "LCE") and Loews Cineplex International Holdings, Inc., a
corporation established under the laws of the State of Delaware, United States
of America and having its offices at 711 Fifth Avenue, New York, NY 10022,
U.S.A. (hereinafter "LCI")

                              W I T N E S S E T H:

            WHEREAS, Mediaplex and LCE have entered into a Heads of Agreement
dated October 21, 1999, as amended by the First Amendment to Heads of Agreement
dated November 14, 1999, the Second Amendment to Heads of Agreement dated May 9,
2000, the Third Amendment to Heads of Agreement dated August 8, 2000 and the
Fourth Amendment to Heads of Agreement dated August 24, 2000 (the "Heads of
Agreement") establishing the basic framework of a joint venture to develop,
construct, own and operate new state-of-the-art multiplex theaters of high
quality in key locations in the Republic of Korea;

            WHEREAS, in order to facilitate the transfer of the rights and
obligations under a Lease Agreement dated July 28, 1998 between Daewoo
Corporation ("Daewoo") and the Korea International Trade Association ("KITA")
regarding the UEC Multiplex located at KITA's ASEM MALL (the "UEC Multiplex"),
Daewoo and LCE executed an Agreement for the Formation of a Joint Venture
Agreement (the "JVA") on October 21, 1999, pursuant to which each of Daewoo and
LCE subscribed to 1,200,000 shares of the Company at the time of the Company's
incorporation on November 16, 1999;

            WHEREAS, as contemplated by the Heads of Agreement, Mediaplex
acquired all of the 1,200,000 shares of the Company owned by Daewoo pursuant to
a Share Transfer Agreement dated November 25, 1999;

            WHEREAS, Mediaplex, LCI and the Company have entered into a Joint
Venture Agreement dated May 9, 2000 (the "Joint Venture Agreement"), in which
the parties agreed to consummate Mediaplex's subscription to 2,479,840 Common
Shares of the Company (as defined therein), LCE's transfer of all of its Common
Shares of the Company to LCI and LCI's subscription to 2,479,840 Convertible
Preferred Shares of the Company (as defined therein) by August 8, 2000;

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            WHEREAS, due to unforeseen circumstances, the closing of the Joint
Venture Agreement was rescheduled to August 25, 2000 by the First Amendment to
Joint Venture Agreement dated August 8, 2000 by and among Mediaplex, LCI and the
Company (the "First Amendment"), and subsequently to October 15, 2000 by the
Supplemental Agreement and Second Amendment to Joint Venture Agreement dated
August 24, 2000 by and among Mediaplex, LCI and the Company (the "Second
Amendment");

            WHEREAS, as the closing did not occur on or prior to October 15,
2000 due to a cause solely attributable to LCI/LCE, pursuant to Article 4 of the
Second Amendment, Mediaplex subscribed to 2,479,840 Common Shares of the Company
on November 11, 2000, resulting in the shareholding ratio of Mediaplex and LCE
being 75.4% and 24.6%, respectively, and certain provisions of the Joint Venture
Agreement were amended to reflect the dilution of LCE's shareholding ratio;

            WHEREAS, under Article 4(o) of the Second Amendment, LCI has the
right to subscribe to or purchase from Mediaplex on or prior to October 15, 2003
such number of shares of the Company that will result in both Mediaplex and LCI
having equal equity interests in the Company;

            WHEREAS, concurrently with the execution of this Agreement,
Mediaplex, LCE and the Company have entered into a Stock Purchase and
Subscription Agreement (the "Stock Purchase and Subscription Agreement"), in
which LCE agreed to purchase from Mediaplex 1,015,518 shares of the Company's
common stock owned by Mediaplex, and to subscribe to 448,804 new shares of the
Company's common stock on the terms and conditions set forth therein, such that
each of Mediaplex and LCE shall have 50% equity interest in the Company; and

            WHEREAS, in connection with LCE's purchase and subscription of the
shares of the Company contemplated in the Stock Purchase and Subscription
Agreement, the parties hereto wish to amend the Joint Venture Agreement.

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

                                    ARTICLE I

                                   DEFINITIONS

            Section 1.1.  Definitions

            Capitalized terms used herein are defined in Appendix A.

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                                   ARTICLE II
                           ORGANIZATION OF THE COMPANY

            Section 2.1. Organizational Documents; Shareholder Resolutions. The
parties hereto agree that, on or prior to the Closing, the Company will take
such action as is necessary to amend the Company's Articles of Incorporation
(the "Articles of Incorporation") so that they shall be as set forth in Exhibit
2.1 attached to this Agreement, effective upon the Closing. From the Closing, in
the event that the relevant Korean registration authorities considers that any
portion of the Articles of Incorporation should be changed from the form
contained in Exhibit 2.1, the parties will amend the Articles of Incorporation
so as to reflect as closely as possible the agreements set forth herein.
Notwithstanding anything herein or in the Articles of Incorporation to the
contrary, to the extent that any provision of the Articles of Incorporation
conflicts with, or otherwise is inconsistent with, any provision of this
Agreement with respect to any matter, or this Agreement covers any matter that
is not covered in the Articles of Incorporation, the provisions of this
Agreement with respect to such matter shall control and shall be binding upon
each of the parties hereto.

            Section 2.2. Purpose. The purpose of the Company will be to develop
and operate, either itself or through its Subsidiaries, the UEC Multiplex and to
conduct such other business as prescribed in Article 2 of the Articles of
Incorporation, as amended from time to time.

                                   ARTICLE III
                        EFFECTIVENESS OF PRIOR AGREEMENTS

            Section 3.1.  Replacement of Prior Agreements.

            Subject to Section 3.2 hereof, the parties hereto agree that this
Agreement shall replace and supersede the Heads of Agreement, the JVA, the Joint
Venture Agreement, the First Amendment and the Second Amendment, regardless of
whether the Closing occurs. Any and all rights and obligations of the parties
under such prior agreements shall forthwith become null and void upon the
execution of this Agreement; provided, however, that each party shall continue
to be liable for its breach of such prior agreements, if any, prior to the date
of this Agreement; provided further, that Mediaplex's right to retain the
payment by LCI of $2,000,000 in accordance with Article 4 of the Second
Agreement shall not be affected by this Agreement.

            Section 3.2.  Conditional Effectiveness.

Notwithstanding anything to the contrary herein, none of the provisions in
Articles VI, and IX of this Agreement shall be effective until the Closing.
Until the Closing, Articles VI, and IX of the Joint Venture Agreement, as
amended by Article 4 of the Second Amendment, shall remain in full force and
effect, except that all references to LCI in the Joint Venture Agreement, the
First Amendment and the Second Amendment shall be interpreted as references to
LCE.

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                                   ARTICLE IV
                              CAPITAL CONTRIBUTIONS

            Section 4.1.  Subsequent Capital Contributions.

            (a) All capital contributions called for by the Board of Directors
subsequent to the payment for the New Shares (as defined in the Stock Purchase
and Subscription Agreement) will be made on a pro rata basis based on the
percentage of outstanding Shares held by each Shareholder.

            (b) If at any time any Shareholder shall fail to subscribe for all
or part of the Shares which such Shareholder is required to make under this
Agreement on the date so required pursuant to written notice (a "Funding
Notice") provided by the Board of Directors (which date shall not be sooner than
45 days following the date of such notice), the Shareholder failing to subscribe
for such shares shall be deemed to be a "Non-Contributing Shareholder" and the
other Shareholder shall be deemed to be "Contributing Shareholder." In such
event, the Contributing Shareholder may subscribe for such Shares for which the
Non-Contributing Shareholder has failed to subscribe with written notice to the
Board of Directors.

            (c) All capital contributions made pursuant to this Agreement shall
be in Won. The capital contributions required to be made to the Company pursuant
to Section 4.1 shall be made in the form of subscriptions for additional Shares
at such subscription price per Share as shall be determined by the Board of
Directors and set forth in the relevant Funding Notice.

            (d) No Shareholder shall be required to make contributions pursuant
to Section 4.1 unless the other Shareholder shall have made or concurrently be
making its contribution pursuant to such Section.

                                    ARTICLE V
                         REPRESENTATIONS AND WARRANTIES

            The representations and warranties of the parties to this Agreement
are set forth in Appendix B.

                                   ARTICLE VI
                 CORPORATE GOVERNANCE; CERTAIN CORPORATE ACTIONS

            Section 6.1. Voting of Shares. Each Shareholder shall vote all
Shares owned or controlled by it, and shall take all other necessary or
desirable actions within its control (including, without limitation, attendance
at meetings in person or by proxy for purposes of obtaining a quorum and
execution of written consents in lieu of meetings), to effectuate the provisions
of this Agreement.

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            Section 6.2. Composition of the Board of Directors. Each Shareholder
shall vote all Shares owned or controlled by it and shall take all necessary
action within its control, so that the composition of the Board of Directors and
the manner of selecting members thereof shall be as follows:

            (a) From and after the Closing Date, the Board of Directors shall be
comprised of four persons, two of whom shall be designated by LCE and two of
whom shall be designated by Mediaplex. All such designations shall be notified
in writing to the Company, which shall notify all of the Shareholders.

            (b) Each Shareholder shall have the right by notice in writing to
the Company to require the Board of Directors to call a shareholder meeting (i)
to remove, with or without cause, any Director designated by such shareholder
pursuant to this Section 6.2 and (ii) to designate any replacement for a
Director designated by such shareholder pursuant to this Section 6.2, upon the
death, resignation, retirement, disqualification or removal from office of such
Director; provided, however, that the Shareholder proposing to remove any
Director it has designated shall be responsible for any claims, actions, losses,
expenses or damage arising out of or in relation to such removal and shall
indemnify and hold harmless the other Shareholder and the Company from any
claim, actions, losses, expenses or damages arising out of or in relation to
such removal.

            (c) At all meetings of the Board of Directors, a quorum shall
consist of not less than three Directors provided that such quorum consists of
at least one Director designated by LCE and one Director designated by
Mediaplex. Written notice shall be duly given to each Director at least fifteen
(15) business days in advance of each meeting, provided no notice need be given
to any Director who signs a written waiver of notice at or in advance of a
meeting, or who attends the meeting without protesting any lack of notice.
Unless a higher vote is specifically required by this Agreement, all actions of
the Board of Directors shall be determined by the vote of a simple majority
(i.e., greater than 50%) of the Directors attending the meeting; provided that
such majority includes at least one Director designated by LCE and one Director
designated by Mediaplex. Directors shall be entitled to participate at meetings
of the Board of Directors telephonically in the event telephonic participation
becomes permissible under the law of the Republic of Korea.

            (d) Board of Directors meetings shall be held no less frequently
than once per year. Minutes of the Board of Directors meetings shall be taken
and a copy of the minutes shall be distributed to each Director in a timely
fashion.

            Section 6.3. Representative Director, Chief Operating Officer, Chief
Financial Officer and Statutory Auditor. (a) The Company's Representative
Director shall be elected by

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the Board of Directors from among the members of the Board of Directors
nominated by Mediaplex. The Company shall also have one Statutory Auditor who
shall be nominated by Mediaplex and elected at the General Meeting of
Shareholders, one Chief Operating Officer who shall be an individual nominated
by Mediaplex and approved by LCE (and who shall be a resident of the Republic of
Korea) and one Chief Financial Officer who shall be nominated by Mediaplex and
approved by LCE (and who shall be a resident of the Republic of Korea). The
day-to-day affairs of the Company shall be managed by the Chief Operating
Officer.

            (b) The Representative Director shall represent the Company and act
on all matters of the Company. The Representative Director and the Chief
Operating Officer will report to the Board of Directors. The Chief Operating
Officer, subject to the control of the Board of Directors, shall have general
charge and control of all of the Company's business and affairs and shall
perform all duties incident to his office; provided that neither the
Representative Director, the Chief Operating Officer nor any other executive of
the Company (acting individually or jointly) shall take or shall be entitled to
take, and each Shareholder shall use its best efforts to prevent the Company or
any of its Subsidiaries from taking, any of the actions specified in Section 6.4
(a) without the prior approval of the Board of Directors in accordance with this
Agreement. The Representative Director and the Chief Operating Officer shall
have such other powers and perform such other duties as may from time to time be
assigned to them by the Board of Directors.

            (c) The Representative Director shall delegate all matters
concerning the day-to-day operations of the Company to the Chief Operating
Officer and shall authorize the Chief Operating Officer to take, without
approval of the Representative Director, any and all actions concerning the
Company not otherwise requiring the approval of the Board of Directors or
Shareholders pursuant to Section 6.4.

            Section 6.4. Approval of Certain Matters. (a) The Representative
Director and the Chief Operating Officer, acting individually or jointly, shall
not and shall not permit the Company or any Subsidiary of the Company to take or
agree to take any of the following actions or engage in any of the following
transactions without the prior approval of the Board of Directors in accordance
with the provisions of this Agreement:

                  (i) expenditure of any Company sum or sums in excess of
      $400,000 in the aggregate in any fiscal year that is not included in an
      Approved Budget for the then current fiscal year, it being understood and
      agreed that all such expenditures shall be directly related to the
      construction, renovation, development or improvement of the Company's
      theatres, it being further understood and agreed that expenditures on film
      rental, to the extent such expenditures are determined by reference to
      box-office sales, shall not be restricted by this clause (i); provided,
      however, that at the end of the three-year period referenced in Section
      6.3(a) above, the parties hereto shall review the provisions of this
      Section 6.4(a)(i) and shall jointly determine whether it would be
      appropriate to modify the terms hereof;

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                  (ii) sale, transfer or disposal of assets of the Company or
      any of its Subsidiaries, or purchase or other acquisition of assets or
      businesses, in each case in any single or series of related transactions,
      for a consideration in excess of $100,000;

                  (iii) engagement by the Company or any of its Subsidiaries in
      any business other than as prescribed in the Articles of Incorporation;

                  (iv) varying the Company's accounting policies and practices
in any material respect, other than to comply with Korean GAAP;

                  (v) entering into, amending or waiving the provision of any
      agreement or transaction with any Shareholder or any Affiliate of any
      Shareholder after the Closing Date, except as expressly provided for in
      this Agreement, and except relating to the exhibition and settlement of
      motion pictures;

                  (vi) establishing any place of business outside the Republic
      of Korea;

                  (vii) commencing or settling litigation where the amount
      involved exceeds $100,000 in the aggregate in any fiscal year or
      consenting to any injunction;

                  (viii) entering into any joint venture, partnership, agreement
      or similar arrangement requiring capital funding;

                  (ix) approving and adopting the annual budget or the Business
      Plan or any change thereto;

                  (x) incurring any debt for borrowed money in excess of
      $100,000 in the aggregate in any fiscal year; or

                  (xi) entering into any employment agreement or consulting
      agreement with any Person involving the payment of any amount in excess of
      $100,000 per year or authorizing any Person to enter into any such
      employment agreement or consulting agreement.

            (b) Neither the Company nor any Subsidiary of the Company shall take
any of the following actions without the approval of the Shareholders by a
two-thirds (2/3) vote:

                  (i) varying any of the rights attaching to the Shares;

                  (ii) modifying the Articles of Incorporation;

                  (iii) taking any steps to effect the winding-up, liquidation,
      dissolution or voluntary bankruptcy of the Company or any of its
      subsidiaries;

                  (iv) the issuance of additional Shares by the Company (except
      for the issuance of new shares to third parties other than the
      shareholders of the Company); provided, however, that the Shareholders
      shall undertake discussions in good faith as and

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      when requested by a Shareholder concerning capital raising activities,
      including the possible sale of private or public equity in the Company;

                  (v) entering into any merger, amalgamation, consolidation or
      other business combination to which the Company or any of its subsidiaries
      is a party;

                  (vi) declaring dividend, distribution of liquidation proceeds
      or purchase of treasury stock;

                  (vii) other actions requiring a special resolution of a
      General Meeting of Shareholders pursuant to the Korean Commercial Code;

                  (viii) changing the name of the Company;

                  (ix) the removal of a Director or the Statutory Auditor;

                  (x) the transfer of all or a significant part of the business
      of the Company;

                  (xi) the issuance of shares of the Company at a price less
      than par value; or

                  (xii) reduction of paid-in capital of the Company.

                                   ARTICLE VII
                                TRANSFER AND SALE

            Section 7.1. Transfer Restrictions. Other than to a Permitted
Transferee, no Shareholder shall sell, transfer, assign, pledge or otherwise
dispose of (a "Transfer") all or part of any Shares beneficially owned by it (i)
except in compliance with the provisions of this Article VII and the Articles of
Incorporation, and (ii) without obtaining a written agreement in form and
substance reasonably satisfactory to the Company executed by the transferee to
be bound by the terms of this Agreement, and any Transfer not in compliance with
clauses (i) and (ii) and any other provisions of this Article VII shall have no
effect and be null and void. Notwithstanding the foregoing restrictions, either
Shareholder may pledge all or part of any Shares beneficially owned by it to a
third party for financing purposes, the period of which pledge must expire no
later than one (1) year from the Closing Date; provided, that transfer
restrictions set forth in this Article 7 shall apply with the same force and
effect to the sale, transfer or disposal of such pledged shares by such third
party.

            Section 7.2. Consent. Until May 9, 2005 (the "Transfer Waiver
Date"), no Shareholder shall Transfer any Shares without the prior written
consent of the other Shareholders other than to a Permitted Transferee.

            Section 7.3. First Refusal. (a) If, following the Transfer Waiver
Date, either LCE (on behalf of itself and its Permitted Transferees) or
Mediaplex (on behalf of itself and its Permitted Transferees) (as appropriate,
the "Transferring Shareholder") desires to Transfer,

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directly or indirectly, all or any portion of the Shares owned by it (other than
to a Permitted Transferee), the Transferring Shareholder shall provide the other
Shareholder (the "Non-Transferring Shareholder") with a written notice (the
"First Refusal Notice"), with a copy to the Company, setting forth:

                  (i) the number of Shares to be offered;

                  (ii) the terms and conditions of the proposed Transfer,
      including the price (the "Offering Price") at which the Transferring
      Shareholder proposes to Transfer such Shares; and

                  (iii) the name of the proposed transferee and a statement
      specifying whether that transferee is a Competitor or not.

            Within 30 Business Days following the delivery of the First Refusal
Notice, the Non-Transferring Shareholder shall, by notice in writing to the
Transferring Shareholder (copied to the Company), have the opportunity and right
to purchase 100% (but not less than 100%) of the Shares referred to in the First
Refusal Notice (on the terms specified in the First Refusal Notice or on any
other terms as are agreed by the parties). If the Non-Transferring Shareholder
fails to exercise or waive its right to purchase 100% of the Shares referred to
in the First Refusal Notice, then the Transferring Shareholder shall be free,
for a three-month period commencing at the end of such 30-day period to enter
into a definitive agreement to Transfer the offered Shares to any third party,
on terms (including, without limitation, all terms affecting price) no more
favorable to the proposed purchaser than the terms specified in the First
Refusal Notice, it being understood, however, that if the Transferring
Shareholder does not complete the Transfer of the Shares within one month
following the end of such three month period, or if the definitive agreement is
subsequently terminated, the Transferring Shareholder shall once again be
subject to all the provisions of this Section 7.3.

            (b) Each acceptance made hereunder shall constitute a separate,
binding contract obligating the Transferring Shareholder to sell, and the
Non-Transferring Shareholder to purchase, the Shares accepted on the terms
specified in the relevant notice (or on any other terms as the parties shall
have agreed). The parties agree to negotiate in good faith to consummate the
transaction as soon as possible, but in no event later than the date 120 days
after the date the First Refusal Notice was given. Notwithstanding any provision
of this Agreement to the contrary, in the event of failure by the
Non-Transferring Shareholder to close the transaction within such 120-day time
periods referred to above, the Transferring Shareholder shall be entitled, in
addition to all other available remedies, to treat that failure as a waiver
under Section 7.3(a) by the Non-Transferring Shareholder of its purchase rights,
entitling the Transferring Shareholder to take the action specified in Section
7.3(a) pursuant to that waiver.

            (c) If the Offering Price specified in the First Refusal Notice
includes any property other than cash, the fair market value of any non-cash
property shall be determined in the following manner:

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                  (i) The fair market value of securities which are publicly
      traded shall be deemed to be the average of the daily closing prices of
      those securities for the five consecutive trading days immediately prior
      to the date of the First Refusal Notice (or the date of the last written
      proposal made by the Transferring Shareholder); and

                  (ii) The fair market value of any other property shall be
      determined by the good faith agreement of the Transferring Shareholder and
      the accepting Non-Transferring Shareholder or, if such parties are unable
      to agree, by an appropriate expert mutually selected by such parties. If
      the parties cannot mutually agree on an expert, each party shall select an
      expert, and those experts shall select an independent expert to resolve
      the dispute. The costs and expenses of the appraisal shall be borne by the
      Transferring Shareholder.

      Notwithstanding anything to the contrary in this Section 7.3, each
Non-Transferring Shareholder may pay the Offering Price in cash, with any
non-cash property valued as provided above.

            Section 7.4.  Tag-Along Rights.

            (a) If, following the Transfer Waiver Date, a Transferring
Shareholder desires to Transfer, directly or indirectly, all or any portion of
the Shares beneficially owned by it and its Affiliates, the Transferring
Shareholder shall provide the Non-Transferring Shareholder with written notice
(the "Tag Along Notice") (which may, but need not be, incorporated into the
First Refusal Notice required pursuant to Section 7.3) setting forth:

            (i) the number of Shares proposed to be Transferred;

            (ii) all terms and conditions of the proposed Transfer including the
Offering Price at which the Transferring Shareholder proposes to Transfer such
Shares;

            (iii) the name of the proposed transferee and a statement specifying
whether or not that transferee is a Competitor; and

            (iv) that the Transferring Shareholder is offering the
Non-Transferring Shareholder the right to participate in such Transfer on the
same terms and conditions as are applicable to the Transferring Shareholder.

            (b) If the proposed transferee is a Competitor of a Non-Transferring
Shareholder then, within 10 Business Days following delivery of the Tag Along
Notice, such Non-Transferring Shareholder may, by notice in writing to the
Transferring Shareholder, require the Transferring Shareholder to request the
proposed transferee to purchase all of the Shares held by the Non-Transferring
Shareholder and its Affiliates on the terms specified in the Tag Along Notice.
If the Transferring Shareholder declines to make such request or the proposed
transferee rejects the request, the Transferring Shareholder shall not be
entitled to sell the Shares which are the subject of the Tag Along Notice to
that proposed transferee.

                                       10
<PAGE>
            (c) If the proposed transferee is not a Competitor of any
Non-Transferring Shareholder, then, within 10 Business Days following the
delivery of the Tag Along Notice, such Non-Transferring Shareholder shall, by
notice in writing to the Transferring Shareholder, have the opportunity to sell
to the prospective purchaser (upon the same terms and conditions as the
Transferring Shareholder) up to that number of Shares owned by such
Non-Transferring Shareholder as shall equal the product of (x) a fraction, the
numerator of which is the number of Shares owned by such Non-Transferring
Shareholder as of the date of such Tag Along Notice, and the denominator of
which is the aggregate number of Shares owned as of the date of such Tag Along
Notice by the Transferring Shareholder and the Non-Transferring Shareholder, and
(y) the number of Shares proposed to be sold. The amount of Shares to be sold by
the Transferring Shareholder shall be reduced if and to the extent necessary to
provide for such sale of Shares by the Non-Transferring Shareholder.

            (d) If the Non-Transferring Shareholder does not elect to require
the Transferring Shareholder to effectuate the sale specified in Section 7.4(b)
or does not elect to participate in a sale specified in Section 7.4(c) within
the 10 Business Day periods referred to in those Sections, the Transferring
Shareholder shall be entitled to consummate such sale within 100 days following
delivery of the Tag Along Notice without the participation of the
Non-Transferring Shareholder.

                                  ARTICLE VIII
                            COVENANTS OF THE PARTIES

            Section 8.1. Access. The Company shall provide LCE and Mediaplex
with such information as either LCE or Mediaplex may from time to time
reasonably request with respect to the Company, and the transactions
contemplated by this Agreement and provide LCE, Mediaplex and their
representatives reasonable access during regular business hours and upon
reasonable notice to the properties, books and records of the Company as LCE or
Mediaplex may from time to time reasonably request.

                                   ARTICLE IX
                               CERTAIN AGREEMENTS

            Section 9.1. Non-Competition. (a) As long as LCE or any of its
Permitted Transferees directly or indirectly owns any Shares, and until the
fifth anniversary of the date that LCE and its Permitted Transferees cease to
own any Shares, neither LCE nor its Affiliates shall directly or indirectly have
any equity or other ownership or participation interest in (other than passive
investments of no more than 5% of the equity of a company whose equity
securities are publicly traded) any motion picture exhibition business (which
business includes the concessions business associated with exhibition of motion
pictures) in the Republic of Korea other than the Company or in such other
territories in Asia in which the Company is then authorized to operate in
accordance with the Articles of Incorporation.

            (b) Subject to and except as permitted by Sections 9.1(c), as long
as Mediaplex or any of its Permitted Transferees directly or indirectly own any
Shares, and until the fifth anniversary of the date that Mediaplex and its
Permitted Transferees cease to own any

                                       11
<PAGE>
Shares, neither Mediaplex nor its Affiliates shall directly or indirectly have
any equity or other ownership or participation interest (other than passive
investments of no more than 5% of the equity of a company whose equity
securities are publicly traded) in any motion picture exhibition business (which
business includes the concessions business associated with exhibition of motion
pictures) in the Republic of Korea other than the Company or in such other
territories in Asia in which the Company is then authorized to operate in
accordance with the Articles of Incorporation.

            (c) Notwithstanding Section 9.1(b), Mediaplex shall be entitled to
retain a one hundred percent (100%) interest in the Cinehouse Theatre.

            (d) If either LCE or Mediaplex wishes to participate in or undertake
any business venture which would otherwise be prohibited by Section 9.1(a) or
9.1(b) (a "New Venture"), the party proposing such New Venture (the "Proposing
Party") shall first offer it to the Company by providing written notice (a
"Notice of New Venture") to the Company containing a detailed description of the
nature, structure and terms of such New Venture as well as a copy of any
proposed agreements relating thereto. The Company shall have thirty (30) days to
determine whether it wishes to pursue the New Venture, it being agreed that such
determination shall be made by the Directors representing the non-Proposing
Party. In the event that the Company determines not to participate in such New
Venture, then the Proposing Party (and/or its Affiliates) shall have the right
to enter into the New Venture as described in the Notice of New Venture
independently or with such third Persons as it selects; provided that the terms
related to such New Venture shall be no more favorable than the terms offered to
the Company. Notwithstanding the foregoing sentence, to the extent that there is
a material change in the details of the New Venture as described in the Notice
of New Venture, a Proposing Party will not have the right to directly or
indirectly, participate in or undertake the New Venture without giving an
additional Notice of New Venture to the Company pursuant to this Section 9.1(d).

            (e) Notwithstanding anything to the contrary herein, within the time
prescribed in Sections 9.1(a) and (b), neither LCE (or its Affiliates) nor
Mediaplex (or its Affiliates) may participate in or undertake any New Venture
regardless of whether a first offer has been made to the Company pursuant to
Section 9.1(d), if such New Venture has or is to have any place of business
within a ten kilometer radius from one of the Company's places of business (six
kilometers if within metropolitan Seoul) or if such New Venture is conducted by
any Competitor or Affiliate thereof.

            Section 9.2. Access to Company. Upon ten Business Days' notice, each
Shareholder and its representatives shall be permitted to inspect the books and
records of the Company for any proper purpose and make copies thereof at any
reasonable time during normal business hours, it being acknowledged that any
information provided under this Section 9.2 shall be subject to the provisions
of Section 13.4.

            Section 9.3. Financial Reporting Obligations. The Shareholders shall
cause the Company to deliver to each of the Shareholders (and shall allow the
Company to hire adequate personnel for such tasks) (i) as soon as available, but
in any event not later than 60 days after the end of each fiscal year of the
Company, a copy of the consolidated balance sheet of the

                                       12
<PAGE>
Company as at the end of such year and the related unaudited consolidated
statements of net income and retained earnings and of cash flows of the Company
for such year setting forth in each case in comparative form the figures for the
previous year, (ii) as soon as available, but in any event not later than 90
days after the end of the fiscal year of the Company, its financial statements
referred to in clause (i), reported on by independent certified public
accountants of internationally recognized standing, (iii) as soon as available,
but in any event not later than 30 days after the end of each of the first three
quarterly periods of each fiscal year of the Company, the unaudited consolidated
balance sheet of the Company as at the end of such quarter and the related
unaudited consolidated statements of net income and retained earnings and of
cash flows of the Company for such quarter and the portion of the fiscal year
through the end of such quarter, setting forth in each case in comparative form
the figures for the previous year, certified by the Chief Financial Officer or
equivalent director or employee of the Company as being fairly stated in all
material respects (subject to normal year-end audit adjustments) and (iv) as
soon as available, but in any event not later than 30 days after the end of each
month of each fiscal year of the Company, the unaudited consolidated balance
sheet of the Company as at the end of such month and the related unaudited
consolidated statements of net income and retained earnings and of cash flows of
the Company for such month certified by the Chief Financial Officer or
equivalent director or employee of the Company as being fairly stated in all
material respects (subject to normal year-end audit adjustments). All such
financial statements shall be prepared in reasonable detail and in accordance
with Korean GAAP applied consistently throughout the periods reflected therein
and with prior periods (except as any inconsistent application of Korean GAAP is
approved by such accountants or officer, as the case may be, and disclosed
therein). The Company shall also prepare such financial statements in accordance
with U.S. GAAP and shall prepare all information required under this Section 9.3
in English if so requested by LCE. The Company's independent certified public
accountants shall be a Korean affiliate of PriceWaterhouseCoopers unless
otherwise decided by the Board of Directors.

            Section 9.4 Related Party Transactions. In the event the Company
elects to enter into one or more business transactions with a third party in
which Mediaplex or LCE has a direct or indirect ownership or beneficial interest
greater than five percent (5%) (each a "Related Party"), all such transactions
shall be conducted on an arm's length basis, without consideration of the
Related Party's status or the beneficial interest of either Mediaplex or LCE, as
the case may be. All contracts, agreements or other business arrangements
between Mediaplex's or LCE's production or distribution Affiliates, on the one
hand, and the Company, on the other hand, shall be on terms no less favorable to
the Company than those offered to similarly situated non-related exhibition
companies.

            Section 9.5 Excess Cash Distributions. Notwithstanding anything to
the contrary herein, if, at the end of each fiscal year, Excess Cash (as
hereinafter defined) is positive, the Company shall distribute such Excess Cash
to the Shareholders in proportion to their respective ownership interest in the
Company no later than 60 days after completion and submission of the audited
financial statements for the relevant fiscal year; provided, however, that the
automatic distribution of Excess Cash provided for hereunder may be waived by
the unanimous consent of the Shareholders. For purposes of this Agreement,
"Excess Cash" means, for the applicable fiscal year, an amount equal to (i) the
amount for such fiscal year of EBITDA minus (ii) the sum, without duplication,
of the amounts for such period of (a) voluntary and

                                       13
<PAGE>
scheduled repayments of debt actually made, (b) capital expenditures (net of any
proceeds of any related financings with respect to such expenditures), (c)
interest expenses to the extent paid in cash, (d) authorized investments and
acquisitions to the extent made in cash (net of any proceeds of any related
financings with respect to such authorized investments and acquisitions), (e)
provisions for Taxes to the extent paid in cash with respect to such fiscal
year, (f) any management fees or dividends paid in cash and (g) $3 million (the
threshold level which must be achieved after deducting (a) through (f) before
cash distributions are payable).

            Section 9.6 Sale of Shares by Means of Public Offering. At any time
during the three year period commencing on the Closing Date of the Stock
Purchase and Subscription Agreement, Mediaplex and LCE shall, at either party's
request, meet to explore in good faith the timeliness of a sale of the Company's
stock by means of a public offering taking into account, among other things,
current market conditions, the needs of the Company, the needs of the
Shareholders and the applicable competitive environment. In the event the
Company has not completed a sale of the Company's stock by means of public
offering during such three-year period, a meeting shall be convened by the
Representative Director no later than 60 days after the expiration of such
period in order to establish a mutually acceptable deadline by which date the
Company shall have conducted a sale of shares of the Company's stock by means of
a public offering.

                                    ARTICLE X
                              CONDITIONS TO CLOSING

                            [Deleted in its entirety]

                                   ARTICLE XI
                                 INDEMNIFICATION

            Section 11.1. Survival. The representations and warranties made in
this Agreement shall survive the Closing and remain in full force and effect for
a period of eighteen (18) months after the Closing Date.

            Section 11.2. Losses. For purposes of this Agreement, the terms
"Loss" or "Losses" shall mean each and all of the following items to the extent
actually incurred: claims, losses, liabilities, damages, judgments, awards,
costs and expenses (including, without limitation, reasonable fees and
disbursements of counsel). Losses shall exclude all consequential damages.

                                       14
<PAGE>
            Section 11.3. Indemnification by Mediaplex. (a) Mediaplex shall
indemnify and hold harmless LCE, the Company and their respective Affiliates
from and against any and all Losses based upon, arising out of, or resulting
from, any of the following:

                  (i) any breach by Mediaplex of any of the representations or
warranties made by Mediaplex in this Agreement; and

                  (ii) any failure by Mediaplex to perform any of its covenants
or agreements contained in this Agreement.

            (b) Notwithstanding anything to the contrary contained herein,
Mediaplex

                  (i) shall not be obligated to pay any amount for
indemnification under this Section 11.3 until the aggregate amount of
indemnification required to be made under this Section 11.3 exceeds $50,000 (the
"Basket Amount"), whereupon Mediaplex shall be obligated to pay all amounts for
such indemnification in excess of the Basket Amount; and

                  (ii) shall not be obligated to make any payments for
indemnification under this Section 11.3 which exceed LCE's total investment in
the Company.

            Section 11.4. Indemnification by LCE. (a) LCE shall indemnify and
hold harmless Mediaplex, the Company and its Affiliates from and against any and
all Losses based upon or resulting from any of the following:

                  (i) any breach by LCE of any of the representations or
warranties made by LCE in this Agreement; or

                  (ii) any failure by LCE to perform any of its covenants or
agreements contained in this Agreement.

            (b) Notwithstanding anything to the contrary contained herein, LCE

                  (i) shall not be obligated to pay any amount for
indemnification under this Section 11.4 until the aggregate amount of
indemnification required to be made under this Section 11.4 exceeds the Basket
Amount, whereupon LCE shall be obligated to pay all amounts for such
indemnification in excess of the Basket Amount; and

                  (ii) shall not be obligated to make any payments for
indemnification under this Section 11.4 which exceed Mediaplex's total
investment in the Company.

            Section 11.5. Indemnification by the Company. (a) The Shareholders
shall cause the Company to indemnify and hold harmless each Shareholder and each
Director, each Affiliate of each Shareholder, each of the foregoing's respective
directors, officers, employees and agents and each of the heirs, executors,
successors and assigns of any of the foregoing, from and against any and all
Losses based upon or resulting from, (i) any Liability of the Company or (ii)
any act or omission performed or omitted to be performed by such Person in its
or his capacity as a Shareholder, Director or an Affiliate of a Shareholder or
as a director, officer,

                                       15
<PAGE>
employee, agent, successor or assign of such Shareholder, Director or Affiliate)
except for acts or omissions constituting gross negligence, bad faith, fraud or
willful misconduct, or breach of this Agreement, provided that no Person shall
have any obligation or liability under this Section 11.5 with respect to any
Losses for which such Person is indemnified or is entitled to indemnification
pursuant to Section 11.3 or 11.4.

            (b) Except as expressly provided in this Article XI, no Shareholder
will have any obligation or Liability to any other Shareholder arising out of or
relating to any Liability of the Company.

            Section 11.6. Claims. (a) When a party seeking indemnification under
Section 11.3, 11.4 or 11.5(a) (the "Indemnified Party") receives notice of any
claims made by third parties ("Third Party Claims") or has any other claim for
indemnification other than a Third Party Claim, which is to be the basis for a
claim for indemnification hereunder, the Indemnified Party shall give prompt
written notice thereof to the other party or parties (the "Indemnifying Party")
reasonably indicating (to the extent known) the nature of such claims and the
basis thereof; provided, however, that failure of the Indemnified Party to give
the Indemnifying Party prompt notice as provided herein shall not relieve the
Indemnifying Party of any of its obligations hereunder unless and only to the
extent that the Indemnifying Party shall have been materially prejudiced
thereby. The Indemnified Party shall have the right to either (i) assume the
defense of any Third Party Claim or (ii) request that the Indemnifying Party
assume the defense of such Third Party Claim. No compromise or settlement in
respect of any Third Party Claims may be effected by the Indemnifying Party
without the Indemnified Party's prior written consent (which consent shall not
be unreasonably withheld or delayed). Regardless of whether the Indemnified
Party assumes the defense of a Third Party Claim or requests the Indemnifying
Party to assume such defense, the Indemnifying Party shall pay all costs and
expenses thereof, including without limitation fees and expenses of legal
counsel.

            Section 11.7. Contribution.

            Except as otherwise provided in Section 11.3 or 11.4, as the case
may be, in the event that any Shareholder shall pay in good faith or become
obligated to pay any proper obligation of the Company, such Shareholder shall be
entitled to contribution from the other Shareholder(s) to the extent necessary
so that, after giving effect to such contribution, each Shareholder shall bear
no more than that part of such obligation which corresponds to its total share
subscription capital contributions at the time of the occurrence, circumstances,
events or conditions giving rise to such obligation.

                                   ARTICLE XII
                           TERMINATION AND LIQUIDATION

            Section 12.1. General.

            This Agreement shall terminate thirty (30) days after issuance of a
termination notice (hereinafter a "Termination Notice") in accordance with
Sections 12.2 and 12.3, provided that such Termination Notice has not been
revoked by the Shareholder that issued it prior to the

                                       16
<PAGE>
expiration of such thirty (30) day period. If the Termination Notice has not
been revoked within such thirty (30) days, it shall become effective as of the
expiration of such period. Issuance of a Termination Notice pursuant to Section
12.2 or 12.3 shall operate without prejudice to the issuing Shareholder's rights
with respect to a claim, if applicable for damages.

            Section 12.2 Termination by LCE.

            LCE shall be entitled to terminate this Agreement pursuant to
Section 12.1 by issuing a Termination Notice to Mediaplex following the
occurrence of any of the following events:

                   (i) the breach by Mediaplex of any term of this Agreement if
not cured by Mediaplex within sixty (60) days after receipt by Mediaplex of
written notice of such breach from LCE, which notice shall set forth in
reasonable details the facts forming the basis of the breach; or

                  (ii) any Governmental Entity issues a notice terminating or
ordering the liquidation of the Company; or

                   (iii) Mediaplex or its assets become the subject of
bankruptcy, insolvency, receivership, liquidation or similar proceedings with
respect to the rights of creditors, which proceedings are not dismissed or
otherwise terminated within sixty (60) days after their commencement.

            Section 12.3. Termination by Mediaplex.

            Mediaplex shall be entitled to terminate this Agreement pursuant to
Section 12.1 by issuing a Termination Notice to LCE following the occurrence of
any of the following events:

                   (i) the breach by LCE of any term of this Agreement if not
cured by LCE within sixty (60) days after receipt by LCE of written notice of
such breach from Mediaplex, which notice shall set forth in reasonable details
the facts forming the basis of the breach; or

                  (ii) any Governmental Entity issues a notice terminating or
ordering the liquidation of the Company; or

                   (iii) LCE or its assets become the subject of bankruptcy,
insolvency, receivership, liquidation or similar proceedings with respect to the
rights of creditors, which proceedings are not dismissed or otherwise terminated
within sixty (60) days after their commencement.

            Section 12.4. Termination by Mutual Agreement.

                                       17
<PAGE>
            This Agreement may also be terminated by the unanimous agreement of
the Shareholders.

            Section 12.5. Remedies upon Termination.

            Upon termination of this Agreement pursuant to this Article XII, the
Company shall be liquidated. The Board of Directors shall appoint a liquidation
commission (hereinafter the "Liquidation Commission") and shall determine their
powers, remuneration and procedures of liquidation. The Liquidation Commission
shall consist of three (3) members, one to be appointed by Mediaplex, one to be
appointed by LCE and one to act as an umpire. If the Board of Directors fails to
appoint the two Shareholder representatives to the Liquidation Commission or the
umpire within thirty (30) days after the delivery of a Termination Notice, then
the Shareholder representatives to the Liquidation Commission and/or the umpire
shall be appointed by the Chairman of the Singapore Arbitration Centre
(hereinafter "SIAC") at the request of either Shareholder. The two Shareholder
representatives to the Liquidation Commission and the umpire shall act jointly
but not separately. In the event the Board of Directors is unable to approve the
proposals of the Liquidation Commission concerning liquidation, then the
decision of the umpire shall be binding upon the Liquidation Commission, the
Shareholders, the Board of Directors and the Company.

            The proceeds of the liquidation after satisfaction of the debts of
the Company (including, but not limited to, debts owed to the Shareholders) and
any expenses, including remuneration of the members of the Liquidation
Commission and the umpire, shall be distributed between the Shareholders in
proportion to the amount of capital contributions actually contributed to the
Company and shall be allocated first to the refund to the Shareholders of the
value of their capital contributions. After liquidation, the Liquidation
Commission shall prepare and submit to the Board of Directors a report detailing
the liquidation of the Company for approval. After approval, the Board of
Directors shall submit such report to the appropriate Governmental Entities and
shall ensure that the liquidation of the Company is registered.

                                  ARTICLE XIII
                                     GENERAL

            Section 13.1. Arbitration. In the event a dispute occurs with
respect to any matter in connection with this Agreement, Mediaplex and LCE will
promptly attempt to settle such dispute through consultation and negotiation in
good faith and in a spirit of mutual cooperation. If agreement is reached
concerning the resolution of such dispute, then such agreement shall be final,
conclusive and binding on Mediaplex and LCE. If, on or before the twentieth day
after written notice of such dispute is given by one party to the other, such
dispute has not been resolved by the agreement of Mediaplex and LCE, the dispute
shall be resolved by submission of such dispute for settlement to SIAC in
accordance with UNCITRAL Arbitration Rules as in force and effect on the date of
this Agreement. The language of the arbitration proceedings shall be English.
There shall be three (3) arbitrators, one of whom shall be appointed by LCE, one
of whom shall be appointed by Mediaplex and one of whom shall be appointed by
the Chairman of SIAC and who shall serve as chairman of the panel. The

                                       18
<PAGE>
arbitrators shall be instructed to apply the laws of the Republic of Korea. The
arbitrator's decision and award with respect to the dispute referred to shall be
final and binding on Mediaplex and LCE and may be entered in any court with
jurisdiction. The cost of the arbitration proceeding and any proceeding in court
to confirm or to vacate any arbitration award, as applicable (including, without
limitation, attorneys' fees and costs), shall be borne by the unsuccessful party
to the dispute and shall be awarded as part of the arbitrator's award; provided,
however, that (i) each of LCE and Mediaplex shall bear its own attorneys' fees
and costs in connection with the arbitration proceedings and (ii) if the
arbitrator does not find one of LCE or Mediaplex to be unsuccessful then the
cost of the arbitral proceedings shall be paid equally by LCE and Mediaplex.

            Section 13.2. Notices. Any notice required to be given hereunder
shall be sufficient if in writing, and (i) sent by facsimile transmission or by
courier service (with proof of service) for international delivery or (ii) hand
delivery or certified or registered mail (return receipt requested and
first-class postage prepaid) for domestic delivery, addressed as follows:

      If to the Company:                    If to LCE or LCI:

      Megabox Cineplex, Inc.                Loews Cineplex Entertainment
      7F, Cinehouse B/D                     Corporation
      91-6 Nonhyun-dong                     711 Fifth Avenue,
      Kangnam-ku                            New York, N.Y. 10022
      Seoul, Republic of Korea              Attention: John C. McBride, Jr.
      Attention: Representative Director     General Counsel
      Facsimilie:82 2 3218 5600             Facsimile: 212 833 8379

      With copies to:                       With copies to:

      Woo Taek Kim                          John J. Walker
      Mediaplex, Inc.                       Senior Vice President and
      7F, Cinehouse B/D                     Chief Financial Officer
      91-6 Nonhyun-dong                     Loews Cineplex Entertainment
      Kangnam-ku                            Corporation
      Seoul, Republic of Korea              711 Fifth Avenue
      Facsimile: 82  2 3218 5600            New York, New York 10022
                                            Facsimile: 212 833 6270
                   And

                                            Travis Reid
                                            President and CEO
      Kim & Chang                           Loews Cineplex Entertainment
      Seyang Building                       Corporation
      223 Naeja-dong                        711 Fifth Avenue
      Seoul, 110-720, Republic of Korea     New York, New York 10022
      Attention:  Dong Shik Choi            Facsimile: 212 833 6375
      Facsimile:  82 2 737 9091
                                                         And

                                       19
<PAGE>
                                            DW Partners
                                            KMD Bldg. 7th Floor
                                            652-16, Shinsa-dong,
                                            Kangnam-ku
                                            Seoul, 135-897, Republic of
                                            Korea
                                            Attention:  Chunghwan Choi
                                            Facsimile:  82 2 512 6060
      If to Mediaplex:

      Mediaplex, Inc.
      7F, Cinehouse B/D
      91-6 Nonhyun-dong
      Kangnam-ku
      Seoul, Republic of Korea
      Attention: Woo Taek Kim
      Facsimilie:82 2 3218 5600

      With a copy to:

      Kim & Chang
      Seyang Building
      223 Naeja-dong
      Seoul, 110-720, Republic of Korea
      Attention:  Dong Shik Choi
      Facsimile:  82 2 737 9091

or to such other address as any party or other addressee shall specify by
written notice so given, and such notice shall be deemed to have been delivered
as of the date so telecommunicated, personally delivered or received if by
courier.

            Section 13.3. Assignment; Binding Effect; Benefit. Except as
expressly contemplated herein, neither this Agreement nor any of the rights,
interests or obligations hereunder shall be assigned by any of the parties
hereto (whether by operation of law or otherwise) without the prior written
consent of the other parties, except any rights, interests or obligations
relating to Shares transferred to a Permitted Transferee, provided that no such
assignment will relieve the assigning party of any of its obligations hereunder,
and provided further that the foregoing restriction shall not apply to any
assignment to any successor Person in connection with any merger or
consolidation or sale of all or substantially all of a party's assets. Subject
to the preceding sentence, this Agreement shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors and
assigns. Notwithstanding anything contained in this Agreement to the contrary,
nothing in this Agreement, express or implied, is intended to confer on any
Person other than the parties hereto or their respective successors and assigns
any rights, remedies, obligations or liabilities under or by reason of this
Agreement.

                                       20
<PAGE>
            Section 13.4. Confidentiality. Each Shareholder agrees that it shall
keep all information regarding the business, affairs and plans of the Company
strictly confidential and shall maintain and protect all information regarding
the business, affairs and plans of the Company in no less careful a manner than
it maintains and protects its own confidential business information; provided,
however, that such information may be disclosed by a Shareholder if, in the
reasonable opinion of counsel to such Shareholder, and after prior consultation
with the other Shareholders and their counsel (but not their consent), such
disclosure is required by law or applicable rules of any securities exchange;
provided further, that the provisions of this Section 13.4 shall not apply to
information which (i) becomes generally available to the public other than as a
result of a disclosure by such Shareholder or holder or its representatives,
(ii) was available to such Shareholder on a non-confidential basis prior to its
disclosure to such Shareholder by any other Shareholder or its representatives,
or (iii) becomes available to such Shareholder on a non-confidential basis from
a source other than any other Shareholder or its representatives.

            Section 13.5. Entire Agreement. This Agreement has been prepared and
executed in the English language, shall be binding on the parties hereto and
shall prevail over any translations thereof. Except as otherwise provided
herein, this Agreement, the exhibits, appendices and schedules hereto and any
certificate delivered by the parties in connection herewith shall constitute the
entire agreement between the parties with respect to the subject matter hereof
and shall supersede all prior agreements and understandings (oral and written)
among the parties with respect thereto.

            Section 13.6. Amendment. This Agreement may not be amended or
modified except by an instrument in writing signed by or on behalf of each of
the parties hereto.

            Section 13.7. Counterparts. This Agreement may be executed by the
parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together
constitute one and the same instrument. Each counterpart may consist of a number
of copies of this Agreement, each of which may be signed by less than all of the
parties hereto, but together all such copies are signed by all of the parties
hereto.

            Section 13.8. Headings. Headings of the Articles and Sections of
this Agreement are for the convenience of the parties only, and shall be given
no substantive or interpretive effect whatsoever.

            Section 13.9. Interpretation. In this Agreement, unless the context
otherwise requires, words describing the singular number shall include the
plural, and vice versa, "including" shall mean "including, without limitation,"
words denoting any gender shall include all genders, and references to a Person
shall include such Person's successors and permitted assigns. In this Agreement,
unless defined herein, all accounting terms shall have the meaning given to them
under Korean GAAP.

                                       21
<PAGE>
            Section 13.10. Incorporation of Exhibits and Schedules. All
exhibits, appendices and schedules hereto are hereby incorporated herein and
made a part hereof for all purposes as if fully set forth herein.

            Section 13.11. Severability. Any term or provision of this Agreement
which is invalid or unenforceable in any jurisdiction shall, as to that
jurisdiction, be ineffective to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Agreement or otherwise affecting the validity or
enforceability of any of the terms or provisions of this Agreement in any other
jurisdiction. If any provision of this Agreement is so broad as to be
unenforceable, the provision shall be interpreted to be only so broad as is
enforceable.

            Section 13.12. Enforcement of Agreement. The parties hereto agree
that irreparable damage would occur in the event that any of the provisions of
Article VI, Article VII or Section 9.1 of this Agreement was not performed in
accordance with its specific terms or was otherwise breached. It is accordingly
agreed that the parties shall be entitled to an injunction or injunctions to
prevent breaches of Article VI, Article VII or Section 9.1 of this Agreement and
to enforce specifically the terms and provisions of Articles VI, Article VII or
Section 9.1 of this Agreement in any court of competent jurisdiction, this being
in addition to any other remedy to which they may be entitled at law or in
equity.

                                       22
<PAGE>
            IN WITNESS WHEREOF, the parties have executed this Agreement and
caused the same to be duly delivered on their behalf as of the day and year
first written above.

                                    LOEWS CINEPLEX INTERNATIONAL HOLDINGS, INC.

                                    By: /s/ John C. McBride, Jr.
                                        ----------------------------------
                                        Name:  John C. McBride, Jr.
                                        Title: Senior Vice President
                                                 and General Counsel

                                    LOEWS CINEPLEX ENTERTAINMENT CORPORATION

                                    By: /s/ John C. McBride, Jr.
                                        ----------------------------------
                                        Name:  John C. McBride, Jr.
                                        Title: Senior Vice President
                                                 and General Counsel

                                    MEDIAPLEX, INC.

                                    By:  /s/ Tam, Chul Kon
                                         ----------------------------------
                                        Name:  Tam, Chul Kon
                                        Title: President

                                    MEGABOX CINEPLEX, INC.

                                    By:  /s/ Tam, Chul Kon
                                         ----------------------------------
                                        Name:  Tam, Chul Kon
                                        Title: Representative Director

                                       23
<PAGE>
                                   Appendix A

                                   Definitions

            "$": means United States dollar, the lawful currency of the United
States of America.

            "Affiliate": means with respect to a specified Person, any Person
that, directly or indirectly, through one or more intermediaries, controls, is
controlled by, or is under common control with, the specified Person. As used in
this definition, the term "control" means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, as trustee
or executor, by contract or otherwise. If a Person is a natural person, the term
Affiliate also includes the wife, parents, children, siblings, nieces, nephews
and grandchildren of such natural person, any trusts established for their
benefit and any legal entities in which they are partners or of which they own
(legally or beneficially), directly or indirectly, more than 50% of such
entity's voting securities.

            "Agreement":  as defined in the preamble to this Agreement.

            "Approved Budget": for any fiscal year means the annual budget of
the Company for such fiscal year as approved by the Shareholders pursuant to
this Agreement.

            "Articles of Incorporation":  as defined in Section 2.1.

            "Basket Amount": as defined in Section 11.3(b)(i).

            "Board of Directors": means the board of directors of the Company
duly elected in accordance with the Company's Articles of Incorporation.

            "Business Day": means a day on which banks are open for business in
Korea.

            "Business Plan": means the business plan of the Company as approved
and adopted by the Board of Directors from time to time.

            "Cinehouse Theatre": means the four-screen multiplex Cinehouse
Theatre located at Cinehouse B/D, 91-6 Nonhyun-dong, Kangnam-ku, Seoul, Republic
of Korea, and currently owned and operated by Mediaplex.

            "Closing": as defined in the Stock Purchase and Subscription
Agreement.

            "Closing Date": as defined in the Stock Purchase and Subscription
Agreement

            "Company": as defined in the preamble to this Agreement.

            "Competitor": means any person which engages in the business of
distributing or exhibiting motion pictures in the Republic of Korea or the
United States of America.

            "Daewoo": as defined in the preamble to this Agreement.

                                       A-1
<PAGE>
            "Debt": means indebtedness for borrowed money (including pursuant to
capital leases) of the Company outstanding as of the time of measurement.

            "Director": means a member of the Board of Directors.

            "Excess Cash": as defined in Section 9.5.

            "First Amendment": as defined in the preamble to this Agreement.

            "First Refusal Notice": as defined in Section 7.3(a).

            "Funding Notice": as defined in Section 4.2(b).

            "GAAP": means generally accepted accounting principles.

            "Governmental Entity": means any central, provincial, local or
foreign government or any court of competent jurisdiction, administrative agency
or commission or other governmental authority or instrumentality, domestic or
foreign.

            "Heads of Agreement":  as defined in the preamble to this Agreement.

            "Indemnified Party": as defined in Section 11.6.

            "Indemnifying Party": as defined in Section 11.6.

            "JVA": as defined in the preamble to this Agreement.

            "Joint Venture Agreement": as defined in the preamble to this
Agreement.

            "KITA": as defined in the preamble to this Agreement.

            "Korean GAAP": means generally accepted accounting principles of the
Republic of Korea.

            "Laws": means applicable laws (including statutes and judicial and
administrative decisions, orders and decrees), rules and regulations.

            "LCE": as defined in the preamble to this Agreement.

            "LCI": as defined in the preamble to this Agreement.

            "Liabilities": means, as to any Person, all debts, liabilities and
obligations, direct, indirect, absolute or contingent of such Person, whether
accrued, vested or otherwise, whether known or unknown and whether or not
actually reflected, or required by Korean GAAP to be reflected, in such Person's
balance sheets or other books and records, including, for the avoidance of
doubt, accrued interest.

            "Liquidation Commission": as defined in Section 12.5.

                                       A-2
<PAGE>
            "Losses":  as defined in Section 11.2.

            "Mediaplex":  as defined in the preamble to this Agreement.

            "New Venture": as defined in Section 9.1(d).

            "Non-Transferring Shareholder":  as defined in Section 7.3(a).

            "Notice of New Venture":  as defined in Section 9.1(d).

            "Offering Price":  as defined in Section 7.3(a).

             "Permitted Transferee": means, with respect to a Shareholder, any
direct or indirect Subsidiary of such Shareholder, provided that such transferee
(i) must continue to be a Subsidiary of LCE or Mediaplex, as the case may be, as
long as such transferee holds any Shares, and if at any time after such Transfer
the transferee ceases to be a Subsidiary of LCE or Mediaplex, as the case may
be, the transferee must immediately Transfer any Shares it holds back to the
transferring Shareholder from whom it received its Shares and (ii) has agreed in
writing to be bound by the terms of this Agreement. For the avoidance of any
doubt, any direct or indirect Subsidiary of the third party pledgee referred to
in Article 7.1 hereof shall not be interpreted as a Permitted Transferee.

            "Person": means any natural person, corporation, company,
partnership, firm, association, trust, government, governmental agency or other
entity, whether acting in an individual, fiduciary or other capacity.

            "Proposing Party": as defined in Section 9.1(c).

            "Related Party": as defined in Section 9.4.

            "Second Amendment": as defined in the preamble to this Agreement.

            "Share" or "Shares": means the shares of the Company's common stock.

            "Shareholder":  means either Mediaplex or LCE.

            "SIAC": as defined in Section 12.5.

            "Subsidiary": of any Person shall mean any corporation or other
legal entity of which such Person (either alone or through or together with its
Subsidiaries) owns, directly or indirectly, 50% or more of the stock or other
equity interests, the holders of which are generally entitled to vote for the
election of the board of directors or other governing body of such corporation
or other legal entity.

            "Stock Purchase and Subscription Agreement": as defined in the
preamble to this Agreement.

            "Tag Along Notice": As defined in Section 7.4.

                                       A-3
<PAGE>
            "Tax" or "Taxes": means taxes of any kind, levies or other like
assessments, duties, imposts, charges or fees, including any interest, penalties
or additions to tax attributable to any such Tax or requirement to report
information with respect thereto, and any damages, costs, fees or other
liability arising from such Tax or reporting requirement.

            "Termination Notice": as defined in Section 12.1.

            "Third Party Claims": as defined in Section 11.6.

            "Transfer": as defined in Section 7.1.

            "Transfer Waiver Date": as defined in Section 7.2.

            "Transferring Shareholder": as defined in Section 7.3(a).

            "UEC Multiplex": as defined in the preamble to this Agreement.

            "US GAAP": means generally accepted accounting principles of the
United States of America.

            "Won": means the lawful currency of the Republic of Korea.

                                       A-4
<PAGE>
                                   Appendix B

                         Representations and Warranties

            A. Mediaplex hereby represents and warrants to LCE as follows:

                  1. Organization. Mediaplex is a corporation duly organized and
validly existing under the laws of its jurisdiction of incorporation and has all
requisite power and authority to enable it to own, lease or otherwise hold its
properties and assets and to carry on its business as it is now being conducted.

                  2. Authority. Mediaplex has full corporate power and authority
to execute and deliver this Agreement and any ancillary agreement to which it is
a party, and to perform its obligations hereunder and thereunder. The execution
and delivery by Mediaplex of this Agreement and any ancillary agreements to
which it is party have been duly authorized by all necessary action (corporate
or otherwise) of Mediaplex. This Agreement and any ancillary agreements have
been duly and validly executed and delivered by Mediaplex and constitute the
valid and binding obligations of Mediaplex, enforceable against it in accordance
with its terms.

                  3. No Conflicts. The execution and delivery by Mediaplex of
this Agreement and any ancillary agreements to which it is party will not (i)
violate, conflict with, result in a breach of, or default under, or permit the
termination of, or require consent under any agreement, obligation or commitment
to which Mediaplex is bound, or to which any of its properties or assets is
subject, (ii) violate any provision of any Laws to which Mediaplex is subject,
(iii) violate any order, judgment or decree applicable to Mediaplex, or (iv)
conflict with, or result in a breach of or default under, any term or condition
of the governing documents of Mediaplex

                  4. Consents. No consent, license, approval, waiver, expiration
of waiting period or authorization of, or registration or declaration with, any
Governmental Entity is required to be obtained or made by Mediaplex (in
connection with the execution, delivery and performance of this Agreement and
any ancillary agreements to which it is party.

                  5. Broker's and Finder's Fee. Mediaplex has not employed any
broker, finder, or financial intermediary in connection with the transactions
contemplated by this Agreement and any ancillary agreements to which it is party
that would be entitled to a broker's, finder's or similar fee or commission in
connection therewith.

            B. LCE hereby represents and warrants to Mediaplex as follows:

                  1. Organization. LCE is a corporation duly organized and
validly existing under the laws of its jurisdiction of incorporation and has all
requisite power and authority to enable it to own, lease or otherwise hold its
properties and assets and to carry on its business as it is now being conducted.

                  2. Authority. LCE has full corporate power and authority to
execute and deliver this Agreement and any ancillary agreement to which it is a
party, to perform its

                                      B-1
<PAGE>
obligations hereunder and thereunder. The execution and delivery by LCE of this
Agreement and any ancillary agreements to which it is party have been duly
authorized by all necessary action (corporate or otherwise) of LCE. This
Agreement and any ancillary agreements have been duly and validly executed and
delivered by LCE and constitute the valid and binding obligations of LCE,
enforceable against it in accordance with its terms.

                  3. No Conflicts. The execution and delivery by LCE of this
Agreement and any ancillary agreements to which it is party will not (i)
violate, conflict with, result in a breach of, or default under, or permit the
termination of, or require consent under any agreement, obligation or commitment
to which LCE is bound, or to which any of its properties or assets is subject,
(ii) violate any provision of any Laws to which LCE is subject, (iii) violate
any order, judgment or decree applicable to LCE, or (iv) conflict with, or
result in a breach of or default under, any term or condition of the governing
documents of LCE

                  4. Consents. No consent, license, approval, waiver, expiration
of waiting period or authorization of, or registration or declaration with, any
Governmental Entity is required to be obtained or made by LCE (other than
registration with the U.S. Securities and Exchange Commission) in connection
with the execution, delivery and performance of this Agreement and any ancillary
agreements to which it is party.

                  5. Broker's and Finder's Fee. LCE has not employed any broker,
finder, or financial intermediary in connection with the transactions
contemplated by this Agreement and any ancillary agreements to which it is party
that would be entitled to a broker's, finder's or similar fee or commission in
connection therewith.

                                      B-2
`<PAGE>

                                                                   Exhibit 10.14

                                                                  Execution Copy

                    STOCK PURCHASE AND SUBSCRIPTION AGREEMENT

                                  BY AND AMONG

                                 MEDIAPLEX, INC.

                                       AND

                    LOEWS CINEPLEX ENTERTAINMENT CORPORATION

                                       AND

                             MEGABOX CINEPLEX, INC.

                                  JULY 25, 2002

<PAGE>

                    STOCK PURCHASE AND SUBSCRIPTION AGREEMENT

THIS STOCK PURCHASE AND SUBSCRIPTION AGREEMENT ("AGREEMENT") is made this 25th
day of July, 2002 by and among MEDIAPLEX, INC., a corporation established under
the laws of Korea and having its offices at 7F, Cinehouse B/D, 91-6
Nonhyun-dong, Kangnam-ku, Seoul, Republic of Korea (hereinafter "SELLER"), Loews
Cineplex Entertainment Corporation, a corporation established under the laws of
the State of Delaware, United States of America, and having its offices at 711
Fifth Avenue, New York, NY 10022, U.S.A. (hereinafter "BUYER") and Megabox
Cineplex, Inc., a corporation established under the laws of Korea and having its
offices at 7F, Cinehouse B/D, 91-6 Nonhyun-dong, Kangnam-ku, Seoul, Republic of
Korea (hereinafter the "COMPANY").

                                   WITNESSETH:

WHEREAS, Seller, the Company and Loews Cineplex International Holdings, Inc.
("LCI") have entered into a Joint Venture Agreement dated May 9, 2000, as
amended by the First Amendment to Joint Venture Agreement dated August 8, 2000,
and the Supplemental Agreement and Second Amendment to Joint Venture Agreement
dated August 24, 2000 ("JOINT VENTURE AGREEMENT");

WHEREAS, concurrently with the execution of this Agreement, Seller, Buyer, the
Company and LCI have entered into an Amended and Restated Joint Venture
Agreement ("AMENDED AND RESTATED JOINT VENTURE AGREEMENT");

WHEREAS, as of the date hereof, Seller owns three million six hundred
seventy-nine thousand eight hundred and forty (3,679,840) shares of the
Company's common stock, representing seventy-five and four tenths percent
(75.4%) of all of the issued and outstanding capital stock of the Company, and
Buyer owns one million two hundred thousand (1,200,000) shares of the Company's
common stock, representing twenty-four and six tenths percent (24.6%) of all of
the issued and outstanding capital stock of the Company;

WHEREAS, pursuant to Paragraph (o) of Article 4 of the Supplemental Agreement
and Second Amendment to Joint Venture Agreement dated August 24, 2000, LCI has
the right to purchase the Mediaplex Shares (as defined in Section 1.1.1) from
Seller and to subscribe to the New Shares (as defined in Section 1.1.2);

WHEREAS, the Company is the holder of the Bank Debt (as defined in Section
4.1.5), a portion of which Buyer and Seller have determined it is in the best
interest of the Company to retire;

WHEREAS, Seller wishes to purchase from the Company and the Company wishes to
sell to Seller the Jeewoo Contributions (as defined in Section 5.2.3); and

<PAGE>

WHEREAS, (i) Buyer wishes to purchase from Seller and Seller wishes to sell to
Buyer the Mediaplex Shares, (ii) Buyer wishes to subscribe to and Seller and the
Company wishes to issue to Buyer the New Shares and (iii) Seller wishes to
purchase from the Company and Buyer and the Company desire that the Company sell
to Seller the Jeewoo Contributions, all upon and subject to the terms,
covenants, agreements and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the premises and the mutual and independent
covenants hereinafter set forth, the parties hereto agree as follows:

                                    ARTICLE I
                                TERMS OF PURCHASE

1.1.     Purchase and Sale; Subscription. Subject to the terms and conditions
         hereof:

         1.1.1.   Buyer shall purchase from Seller, and Seller shall sell to
                  Buyer, all right, title and interest in and to one million
                  fifteen thousand five hundred and eighteen (1,015,518) shares
                  of the Company's common stock (the "MEDIAPLEX SHARES"); and

         1.1.2.   Buyer shall subscribe for, and the Company shall issue to
                  Buyer, four hundred forty-eight thousand eight hundred and
                  four (448,804) new shares of the Company's common stock (the
                  "NEW SHARES").

1.2.     Purchase and Subscription Consideration.

         1.2.1.   Subject to the terms and conditions hereof and in
                  consideration of the sale and transfer to Buyer by Seller of
                  all of the Mediaplex Shares, Buyer shall pay to Seller at
                  Closing (as defined in Section 2.1 below) a total purchase
                  consideration of seventeen billion one hundred fifty-seven
                  million eight hundred thousand Korean Won (KW17,157,800,000)
                  (the "PURCHASE CONSIDERATION").

         1.2.2.   Subject to the terms and conditions hereof and in
                  consideration of the issuance and transfer to Buyer by the
                  Company of all of the New Shares, Buyer shall pay to the
                  Company at Closing a total subscription consideration of seven
                  billion five hundred eighty-two million nine hundred
                  ninety-two thousand three hundred and eighty-four Korean Won
                  (KW7,582,992,384) (the "SUBSCRIPTION CONSIDERATION").

                                   ARTICLE II
                                     CLOSING

2.1.     Closing Date. The closing for the sale and purchase of the Mediaplex
         Shares and the subscription of the New Shares ("CLOSING") shall take
         place on July 31, 2002 or such

                                       2
<PAGE>

         other date as the parties shall mutually agree in writing ("CLOSING
         DATE"). The Closing shall take place at the offices of the Company or
         such other place as the parties shall mutually agree in writing.

2.2.     Buyer's Closing Actions.  On the Closing Date:

         2.2.1.   Buyer shall deliver to Seller and the Company:

                  2.2.1.1. A certificate in form reasonably acceptable to Seller
                           and the Company stating that the conditions specified
                           in Sections 3.2 and 3.3 of this Agreement have been
                           satisfied; and

                  2.2.1.2. A copy of the resolutions of the Board of Directors
                           of Buyer (i) approving the purchase of the Mediaplex
                           Shares from Seller and the subscription of the New
                           Shares on the terms hereof and (ii) approving the
                           execution, delivery and performance of this Agreement
                           and the Amended and Restated Joint Venture Agreement.

         2.2.2.   Buyer shall pay to Seller the Purchase Consideration by wire
                  transfer of immediately available funds to an account
                  previously designated in writing by Seller at least five
                  Business Days (defined as the days on which banks are open for
                  business in Korea) prior to the Closing Date.

         2.2.3.   Buyer shall pay to the Company the Subscription Consideration
                  by wire transfer of immediately available funds to the
                  Company's subscription account previously designated in
                  writing by the Company at least five Business Days prior to
                  the Closing Date.

2.3.     Seller's Closing Actions.  On the Closing Date:

         2.3.1.   Seller shall deliver to Buyer:

                  2.3.1.1. A certificate in form reasonably acceptable to Buyer
                           stating that the conditions specified in Section 3.1
                           of this Agreement have been satisfied; and

                  2.3.1.2. A copy of the resolutions of the Board of Directors
                           of Seller (i) approving the sale of the Mediaplex
                           Shares to Buyer on the terms hereof and (ii)
                           approving the execution, delivery and performance of
                           this Agreement and the Amended and Restated Joint
                           Venture Agreement.

         2.3.2.   Seller shall deliver to Buyer the original share certificates
                  representing the Mediaplex Shares together with executed
                  copies of any and all certificates or other documents
                  reasonably required by Buyer's counsel to consummate the
                  transfer of ownership of the Mediaplex Shares from Seller to
                  Buyer.

                                       3
<PAGE>

2.4.     Company's Closing Actions. On the Closing Date:

         2.4.1.   The Company shall deliver to Buyer:

                  2.4.1.1. True, correct and complete copies of the Company's
                           balance sheet and income statement at and for the
                           fiscal year ended December 31, 2001, audited in
                           accordance with Korean GAAP and the Company's
                           unaudited balance sheet and income statement for the
                           first quarter of 2002, prepared in accordance with
                           Korean GAAP ("FINANCIAL STATEMENTS");

                  2.4.1.2. A certificate in form reasonably acceptable to Buyer
                           stating that the conditions specified in Section 3.1
                           of this Agreement have been satisfied; and

                  2.4.1.3. A copy of the resolutions of the Board of Directors
                           of the Company (i) approving the issuance of the New
                           Shares to Buyer on the terms hereof and (ii)
                           approving the execution, delivery and performance of
                           this Agreement and the Amended and Restated Joint
                           Venture Agreement.

2.5.     Interim Agreements. Subject to Article III of the Amended and Restated
         Joint Venture Agreement, upon Closing, the Supplemental Agreement and
         Second Amendment to Joint Venture Agreement dated August 24, 2000 shall
         become null and void, and any and all rights and obligations of the
         parties thereunder shall also become null and void.

                                   ARTICLE III
                         CONDITIONS PRECEDENT TO CLOSING

3.1.     Conditions Precedent to Buyer's Obligations. The obligations of Buyer
         hereunder to purchase the Mediaplex Shares and to subscribe to the New
         Shares are subject to the satisfaction of each of the following
         conditions at or prior to Closing, unless waived by Buyer in writing:

         3.1.1.   All of the representations and warranties of Seller contained
                  in this Agreement shall be true and correct at and as of the
                  Closing Date.

         3.1.2.   Seller and the Company shall have performed and complied in
                  all respects with the conditions required by this Agreement to
                  be performed or complied with prior to or at Closing.

         3.1.3.   From the date hereof to the Closing Date, the Company shall
                  not have suffered any material adverse change with respect to
                  its properties and assets, business operation or financial
                  condition.

3.2.     Condition Precedent to Seller's Obligations. The obligations of Seller
         hereunder to sell the Mediaplex Shares to Buyer are subject to the
         satisfaction of each of the following

                                       4
<PAGE>

         conditions at or prior to Closing, unless waived by Seller in writing:

         3.2.1.   All of the representations and warranties of Buyer contained
                  in this Agreement shall be true and correct at and as of the
                  Closing Date.

         3.2.2.   Buyer shall have performed and complied in all respects with
                  the conditions required by this Agreement to be performed or
                  complied with prior to or at Closing.

3.3.     Condition Precedent to the Company's Obligations. The obligations of
         the Company hereunder to issue the New Shares to Buyer are subject to
         the satisfaction of each of the following conditions at or prior to
         Closing, unless waived by the Company in writing:

         3.2.1.   All of the representations and warranties of Buyer contained
                  in this Agreement shall be true and correct at and as of the
                  Closing Date.

         3.2.2.   Buyer shall have performed and complied in all respects with
                  the conditions required by this Agreement to be performed or
                  complied with prior to or at Closing.

                                   ARTICLE IV
                         REPRESENTATIONS AND WARRANTIES

4.1.     Representations and Warranties of Seller. Seller hereby represents and
         warrants to Buyer as follows:

         4.1.1.   Seller and the Company are both corporations duly organized
                  and validly existing under the laws of the Republic of Korea.

         4.1.2.   Seller has full legal right, power and authority to execute
                  and deliver this Agreement and to duly perform and observe the
                  terms and conditions hereof.

         4.1.3.   Seller is the sole owner of the Mediaplex Shares, free and
                  clear of any and all pledges, security interests, liens and
                  encumbrances of any nature whatsoever.

         4.1.4.   The Financial Statements present fairly in all material
                  respects the financial condition of the Company at the
                  respective dates indicated and its results of operations for
                  the periods then ended, all in accordance with Korean GAAP.

         4.1.5.   The Company has no liabilities of a nature required to be
                  disclosed in the Financial Statements in accordance with
                  Korean GAAP as historically applied by the Company other than
                  liabilities (i) reflected or reserved for on the Financial
                  Statements, (ii) disclosed on Schedule 4.1.5.(a) hereto or
                  (iii) incurred in the ordinary course of business since the
                  date of the balance sheet included in the most recent
                  Financial Statement. In addition, the Company has no
                  non-current

                                       5
<PAGE>

                  liabilities other than the bank debt, the major terms of which
                  are set forth in Schedule 4.1.5.(b) hereto (the "BANK DEBT").

         4.1.6.   Except as set forth on Schedule 4.1.6., the Company has: (i)
                  timely filed all tax returns pursuant to applicable legal
                  requirements; (ii) paid or made proper provision for payment
                  of all material taxes due and payable by it; and (iii)
                  withheld or collected all material taxes required by
                  applicable legal requirements and paid such taxes to the
                  proper governmental body. In addition, except as set forth on
                  Schedule 4.1.6., no tax deficiency has been proposed or
                  asserted against the Company as a result of any examination by
                  any governmental body that has not been paid or finally
                  settled and no such audit or examination is pending or, to
                  Seller's knowledge, proposed.

         4.1.7.   Schedule 4.1.7. lists the name, job title, hire date and
                  current compensation of each member of the Company's senior
                  management (any employee above the level of theater manager).
                  Except as set forth on Schedule 4.1.7., the Company is not a
                  party to any written or oral contract with any of the
                  Company's current or former senior management with respect to
                  length, duration, or termination of employment, salaries,
                  bonuses, percentage compensation, deferred compensation,
                  health insurance or any other form of remuneration.

         4.1.8.   Schedule 4.1.8. describes all of the Company's Material
                  Contracts (as defined below) entered into between the Company
                  and third parties since November 2000. Each Material Contract
                  is in full force and effect and is valid and enforceable in
                  accordance with its terms, unless otherwise noted in Schedule
                  4.1.8. Neither the Company nor to Seller's knowledge the other
                  parties to the Material Contracts are in material default
                  under the terms of the applicable Material Contract. To
                  Seller's knowledge, no party to any Material Contract intends
                  to terminate such Material Contract or modify its business
                  relationship with the Company in a manner that is materially
                  adverse to the Company. For purposes of this Agreement, the
                  term "MATERIAL CONTRACT" shall mean any contract to which the
                  Company is a party or by which it is bound that involves
                  performance of services or delivery of goods or materials by
                  or to the Company of an amount in excess of one hundred
                  thousand United States dollars (US$100,000) other than
                  contracts with film companies regarding film distribution or
                  film rent payments; provided, however, a contract regarding
                  film distribution or film rental payment shall be deemed to be
                  a "MATERIAL CONTRACT" for purposes of this Section 4.1.8 if
                  Seller or any affiliate of Seller is a party to such contract.

         4.1.9.   Schedule 4.1.9. describes all real property owned or leased by
                  the Company. The Company has good and valid title to, or if
                  applicable, a valid leasehold interest in the real property
                  listed on Schedule 4.1.9., free and clear of any and all
                  encumbrances. Each lease listed on Schedule 4.1.9. is in full
                  force and effect and neither the Company nor to Seller's
                  knowledge any other party to the lease is in material default
                  under the terms of the lease.

                                       6
<PAGE>

         4.1.10.  All of the Company's insurance policies are in full force and
                  effect, all premiums with respect thereto covering all periods
                  up to and including the date as of which this representation
                  is being made have been paid and no notice of cancellation or
                  termination had been received by the Company with respect to
                  any such policy. Neither the execution and delivery of this
                  Agreement nor the consummation of the transactions
                  contemplated hereby will result in a breach of any such
                  policies.

         4.1.11.  The execution and delivery of this Agreement will not result
                  in the breach or violation of Seller's articles of
                  incorporation or a breach or violation of any of the terms or
                  conditions of, or constitute a default under, or violate, or
                  result in a change in the rights or duties of any party to or
                  under any contract or agreement to which Seller is subject,
                  and such execution and delivery have been duly authorized by
                  all required corporate action.

         4.1.12.  There are no judgments, decrees or orders against Seller or
                  the Company, and to the best of Seller's knowledge, no
                  litigation is pending or threatened against Seller or the
                  Company that seeks to prohibit Seller or the Company from
                  consummating the transactions contemplated hereby.

         4.1.13.  All the Shares are, or will be by the date immediately
                  following the Closing, validly issued and outstanding and
                  fully paid. Seller is the record and sole beneficial owner of
                  the Mediaplex Shares and, at Closing, shall deliver the
                  Mediaplex Shares free and clear of any liens, claims, pledges,
                  charges, security interests or other encumbrances (other than
                  any of the foregoing arising as a matter of law, which, to the
                  best of Seller's knowledge, there are none). Other than as
                  provided in this Agreement, there are no agreements on the
                  part of Seller for the purchase, sale or other disposition of
                  any of the Mediaplex Shares or any interest therein, and, upon
                  the transfer of the Mediaplex Shares to Buyer in accordance
                  with this Agreement, good and marketable title in and to the
                  Mediaplex Shares will have been transferred and sold to Buyer,
                  free and clear of all liens, charges, security interests and
                  encumbrances of any nature whatsoever.

         4.1.14.  This Agreement constitutes the legal, valid and binding
                  obligation of Seller and the Company, enforceable in
                  accordance with its terms, except as enforcement thereof may
                  be limited by bankruptcy, insolvency, conservatorship,
                  receivership, liquidation, reorganization, moratorium or
                  similar laws or equitable principles affecting the enforcement
                  of creditors' rights generally.

         4.1.15.  Except as set forth in Schedule 4.1.15., there are no other
                  parties from whom consent is required in order to consummate
                  the transactions contemplated hereby.

         4.1.16.  The Company is not the subject of any bankruptcy, liquidation,
                  dissolution or other comparable proceeding and no trustee,
                  receiver or liquidator has been appointed for the Company (and
                  no proceeding for same is pending).

         4.1.17.  Neither Seller nor anyone acting on Seller's behalf has
                  incurred any liability or

                                       7
<PAGE>

                  obligation to pay fees or commissions to any broker, finder or
                  agent with respect to the transactions contemplated by this
                  Agreement.

         4.1.18.  To Seller's knowledge, the Company is not infringing upon the
                  intellectual property of any third party and no third party is
                  infringing upon the intellectual property of the Company.

         4.1.19.  All receivables of the Company (including accounts receivable,
                  notes receivable and other debts owing to or accruing to the
                  Company and the full benefit of all security for such
                  accounts, notes or debts), as reflected in the Financial
                  Statements and which have arisen thereafter, have arisen only
                  from bona fide transactions in the ordinary course of business
                  and are collectible in the ordinary course of business as of
                  the date hereof. The values at which receivables are carried
                  reflects the accounts receivable valuation policy of the
                  Company which is consistent with its past practice and in
                  accordance with Korean GAAP applied on a consistent basis.

         4.1.20.  Except as set forth on Schedule 4.1.20., since January 1, 2002
                  (i) no event has occurred that would reasonably be expected to
                  have a material adverse effect and (ii) the Company has not
                  made or agreed to make any increase in compensation payable to
                  any member of the Company's senior management except in the
                  ordinary course of business consistent with past practice.

         4.1.21.  The Company is complying, and during all applicable times has
                  complied in all material respects, with all legal requirements
                  applicable to it and to the conduct of its business.

         4.1.22.  Except as disclosed on Schedule 4.1.22. hereto, there are no
                  outstanding notes payable to or accounts receivable from, or
                  advances, directly or indirectly, by the Company to, and the
                  Company is not, directly or indirectly, otherwise a creditor
                  of, or party to any contract with, Seller or any affiliate of
                  Seller.

         4.1.23.  Except as set forth on Schedule 4.1.23. hereto, the Company
                  has good and marketable to, or a valid license or leasehold
                  interest in, the assets used by the Company, except for assets
                  disposed of prior to Closing in the ordinary course of
                  business. Immediately after Closing, the Company will have
                  good and marketable title to, or a valid license or leasehold
                  interest in, all assets used by the Company.

         4.1.24.  No representation or warranty made by Seller in this
                  Agreement, in the Schedules or in the certificate to be
                  provided pursuant to Section 2.3.1.1 contains or will contain
                  any untrue statement of material fact or omits to state any
                  material fact necessary to make the statements contained
                  therein, in light of circumstances under which they were made,
                  not misleading.

4.2.     Representations and Warranties of Buyer. Buyer hereby represents and
         warrants to Seller and the Company as follows:

                                       8
<PAGE>

         4.2.1.   Buyer is a corporation duly organized, validly existing and in
                  good standing under the laws of the State of Delaware, United
                  States of America.

         4.2.2.   Buyer has full legal right, power and authority to execute and
                  deliver this Agreement and to duly perform and observe the
                  terms and conditions hereof.

         4.2.3.   The execution and delivery of this Agreement will not result
                  in the breach or violation of Buyer's foundation documents or
                  a breach or violation of any of the terms or conditions of, or
                  constitute a default under, or violate, or result in a change
                  in the rights or duties of any party to or under any contract
                  or agreement to which such party is subject, and such
                  execution and delivery have been duly authorized by all
                  required corporate action.

         4.2.4.   There are no judgments, decrees or orders against Buyer, and
                  to the best of Buyer's knowledge, no litigation is pending or
                  threatened against Buyer that seeks to prohibit Buyer from
                  consummating the transactions contemplated hereby.

         4.2.5.   This Agreement constitutes the legal, valid and binding
                  obligations of Buyer, enforceable in accordance with its
                  terms.

         4.2.6.   Except as set forth in Schedule 4.2.6., there are no other
                  parties from whom consent is required in order to consummate
                  the transactions contemplated hereby.

         4.2.7.   Buyer is not the subject of any bankruptcy, liquidation,
                  dissolution or other comparable proceeding that affects
                  Buyer's ability to execute, deliver and perform this
                  Agreement, and no trustee, receiver or liquidator has been
                  appointed for Buyer (and no proceeding for same is pending).

         4.2.8.   No representation or warranty made by Buyer in this Agreement,
                  in the Schedules or in the certificate to be provided pursuant
                  to Section 2.2.1.1 contains or will contain any untrue
                  statement of material fact or omits to state any material fact
                  necessary to make the statements contained therein, in light
                  of circumstances under which they were made, not misleading.

                                    ARTICLE V
                                    COVENANTS

5.1.     Pre-closing Covenants.  From the date of this Agreement to Closing:

         5.1.1.   Seller will use its reasonable efforts to cause the Company to
                  conduct its operations only in the ordinary course of business
                  and, without limiting the generality of the foregoing, Seller
                  will not, without the prior written consent of Buyer, enter
                  into on behalf of the Company any Material Contract.

         5.1.2.   Seller will use its reasonable efforts to preserve intact the
                  present business

                                       9
<PAGE>

                  organization and personnel of the Company, to preserve
                  relationships with customers, suppliers and others having
                  business dealings with the Company.

         5.1.3.   Seller will cause the Company to refrain from increasing or
                  agreeing to increase any compensation payable to any member of
                  the Company's senior management (above theater manager level)
                  except in the ordinary course of business of the Company.

         5.1.4.   Neither Buyer, Seller nor the Company will take any action
                  intended to interfere with or prevent the timely consummation
                  of the transactions contemplated by this Agreement.

         5.1.5.   If, to the knowledge of any party hereto, an event occurs or
                  fails to occur that has or is reasonably likely to have a
                  material adverse effect on the completeness or accuracy of the
                  representations and warranties of such party set forth in
                  Article IV hereof, such party will promptly notify the other
                  parties to that effect.

5.2.     Post-closing Covenants.

         5.2.1.   No later than seven (7) Business Days from the Closing Date,
                  Buyer and Seller shall cause the Company to apply the sum of
                  four billion two hundred ninety-three million Korean Won
                  (KW4,293,000,000) ("COMPANY BANK DEBT RETIREMENT PROCEEDS")
                  from the Subscription Consideration to retire a portion of the
                  Bank Debt identified on Schedule 4.1.5.(b) hereto.

         5.2.2.   The Subscription Consideration less the Company Debt
                  Retirement Proceeds (three billion two hundred eighty-nine
                  million nine hundred ninety-two thousand three hundred and
                  eighty four Korean Won (KW3,289,992,384)) will remain in the
                  Company as additional operating capital for such purposes as
                  the Company's shareholders may determine from time to time in
                  accordance with the terms of the Amended and Restated Joint
                  Venture Agreement.

         5.2.3.   No later than ten (10) Business Days from the Closing Date,
                  Seller shall purchase from the Company 260 units of
                  contribution in the Jeewoo-Mega Film Venture Fund ("JEEWOO
                  CONTRIBUTIONS") in the face amount of two point six billion
                  Korean Won (KW2,600,000,000) for a total purchase
                  consideration of two billion seven hundred eight million nine
                  hundred eighty thousand and three hundred Korean Won
                  (KW2,708,980,300), which shall be paid by wire transfer of
                  immediately available funds to an account previously
                  designated in writing by the Company. Any and all taxes and
                  associated costs and expenses (including legal fees and
                  expenses) associated with the transfer and registration of the
                  Jeewoo Contributions shall be for Seller's sole account; and
                  Seller shall indemnify and hold harmless Purchaser and Company
                  from all such taxes, costs and expenses incurred or paid by
                  them or their affiliates.

5.3.     Registration of Issuance of New Shares. On the Business Day immediately
         following the

                                       10
<PAGE>

         Closing Date, the Company shall register the issuance of the New Shares
         in the company registry of the Company and deliver the original share
         certificates representing the New Shares to Buyer.

5.4.     Governmental Approvals. Each party to this Agreement will use its
         reasonable efforts to obtain all consents, approvals and authorizations
         of third parties, and to do all other things, including fulfilling the
         conditions required to be fulfilled by that party, that are necessary
         to bring about the timely consummation of the transactions contemplated
         by this Agreement.

5.5.     Further Assurances. After the Closing Date, each party to this
         Agreement will take any additional actions, including executing and
         delivering additional documents that the other parties may reasonably
         request for the purpose of carrying out the intent of this Agreement.

                                   ARTICLE VI
                                 INDEMNIFICATION

6.1.     Losses. For purposes of this Agreement, the terms "Loss" or "Losses"
         shall mean each and all of the following items to the extent actually
         incurred: claims, losses, liabilities, damages, judgments, awards,
         costs and expenses (including, without limitation, reasonable fees and
         disbursements of counsel). Losses shall exclude all consequential
         damages.

6.2.     Indemnification by Seller. Seller shall indemnify and hold harmless
         Buyer and its respective affiliates from and against any and all Losses
         based upon, arising out of, or resulting from, any of the following:

         6.2.1.   any breach by Seller of any of the representations or
                  warranties made by Seller in this Agreement; and

         6.2.3.   any failure by Seller to perform any of its covenants or
                  agreements contained in this Agreement.

         Notwithstanding anything to the contrary contained herein, Seller (i)
         shall not be obligated to pay any amount for indemnification under this
         Section 6.2 until the aggregate amount of indemnification required to
         be made under this Section 6.2 exceeds US$50,000 (the "BASKET AMOUNT"),
         whereupon Seller shall be obligated to pay all amounts for such
         indemnification in excess of the Basket Amount; and (ii) shall not be
         obligated to make any payments for indemnification under this Section
         6.2 which exceed the sum of all payments to be made by Buyer hereunder
         and Buyer's total prior investment in the Company.

6.3.     Indemnification by Buyer. Buyer shall indemnify and hold harmless
         Seller, the Company and their respective affiliates from and against
         any and all Losses based upon or resulting

                                       11
<PAGE>

         from any of the following:

         6.3.1.   any breach by Buyer of any of the representations or
                  warranties made by Buyer in this Agreement; and

         6.3.2.   any failure by Buyer to perform any of its covenants or
                  agreements contained in this Agreement.

         Notwithstanding anything to the contrary contained herein, Buyer (i)
         shall not be obligated to pay any amount for indemnification under this
         Section 6.3 until the aggregate amount of indemnification required to
         be made under this Section 6.3 exceeds the Basket Amount, whereupon
         Buyer shall be obligated to pay all amounts for such indemnification in
         excess of the Basket Amount; and (ii) shall not be obligated to make
         any payments for indemnification under this Section 6.3 which exceed
         the sum of all payments to be made by Buyer hereunder and Buyer's total
         prior investment in the Company.

6.4.     Indemnification by the Company.

         6.4.1.   Buyer and Seller shall cause the Company to indemnify and hold
                  harmless Buyer and Seller and each director, each affiliate of
                  Buyer and Seller, each of the foregoing's respective
                  directors, officers, employees and agents and each of the
                  heirs, executors, successors and assigns of any of the
                  foregoing, from and against any and all Losses based upon or
                  resulting from, (i) any liability of the Company or (ii) any
                  act or omission performed or omitted to be performed by such
                  person in its or his capacity as a shareholder, director or an
                  affiliate of a shareholder or as a director, officer,
                  employee, agent, successor or assign of such shareholder,
                  director or affiliate) except for acts or omissions
                  constituting gross negligence, bad faith, fraud or willful
                  misconduct, or breach of this Agreement, provided that no
                  person shall have any obligation or liability under this
                  Section 6.4 with respect to any Losses for which such person
                  is indemnified or is entitled to indemnification hereunder.

         6.4.2.   Except as expressly provided in this Section 6.4, neither
                  Buyer nor Seller will have any obligation or liability to the
                  other arising out of or relating to any liability of the
                  Company.

6.5.     Claims. When a party seeking indemnification under Section 6.2, 6.3 or
         6.4.1 ("INDEMNIFIED PARTY") receives notice of any claims made by third
         parties ("THIRD PARTY CLAIMS") or has any other claim for
         indemnification other than a Third Party Claim, which is to be the
         basis for a claim for indemnification hereunder, the Indemnified Party
         shall give prompt written notice thereof to the other party or parties
         ("INDEMNIFYING PARTY") reasonably indicating (to the extent known) the
         nature of such claims and the basis thereof; provided, however, that
         failure of the Indemnified Party to give the Indemnifying Party prompt
         notice as provided herein shall not relieve the Indemnifying Party of
         any of its obligations hereunder unless and only to the extent that the
         Indemnifying Party shall have been materially prejudiced thereby. The
         Indemnified

                                       12
<PAGE>

         Party shall have the right to either (i) assume the defense of any
         Third Party Claim at its own cost or (ii) request that the Indemnifying
         Party assume the defense of such Third Party Claim. No compromise or
         settlement in respect of any Third Party Claims may be effected by the
         Indemnifying Party without the Indemnified Party's prior written
         consent (which consent shall not be unreasonably withheld or delayed).
         Regardless of whether the Indemnified Party assumes the defense of a
         Third Party Claim or requests the Indemnifying Party to assume such
         defense, the Indemnifying Party shall pay all costs and expenses
         thereof, including without limitation fees and expenses of legal
         counsel.

6.6.     Contribution. Except as otherwise provided hereunder, in the event that
         Buyer or Seller shall pay in good faith or become obligated to pay any
         proper obligation of the Company, such party shall be entitled to
         contribution from the other party to this Agreement to the extent
         necessary so that, after giving effect to such contribution, neither
         Buyer nor Seller shall bear any more than that part of such obligation
         which corresponds to its total share subscription capital contributions
         at the time of the occurrence, circumstances, events or conditions
         giving rise to such obligation.

                                   ARTICLE VII
                                   TERMINATION

7.1.     Termination. At any time on or prior to the Closing, any party hereto
         may immediately terminate this Agreement by giving written notice to
         the other parties, if:

         7.1.1.   the Closing has not occurred on or prior to July 31, 2002, or
                  it becomes evident that any of the conditions precedent to the
                  closing obligations of any party, as set forth in Article II
                  and Article III hereof, will not be able to be satisfied on or
                  prior to the Closing Date; provided, however, that failure to
                  close or the non-satisfaction of such conditions precedent
                  shall not be attributable to the party seeking to terminate
                  this Agreement;

         7.1.2.   without prejudice to Article VI, the other party has committed
                  a material breach of any representation or warranty,
                  agreement, covenant, or other term of this Agreement, and
                  fails to cure such breach within ten (10) Business Days of the
                  receipt of written notice from the non-breaching party
                  requesting cure of the breach;

         7.1.3.   the other party, its creditor or any third party files for
                  bankruptcy, composition, corporate reorganization or other
                  similar proceedings of the other party, or the other party has
                  become insolvent and is unable to pay any debts as they become
                  due or has explicitly or implicitly suspended payment of any
                  debts as they become due.

7.2.     Effect of Termination. In the event of termination of this Agreement
         under Section 7.1 hereof, this Agreement shall forthwith become null
         and void, except for Articles VI, VII and VIII; provided, however, the
         termination of this Agreement shall not relieve any party

                                       13
<PAGE>

         of any liability for breach of this Agreement prior to such
         termination.

7.3.     Survival of Representation and Warranties. Notwithstanding anything
         contained in this Agreement to the contrary, all representations and
         warranties made by Seller and Buyer under this Agreement in connection
         with the transactions contemplated herein shall survive Closing for a
         period of eighteen months and shall survive any investigation made at
         any time with respect thereto.

                                  ARTICLE VIII
                                  MISCELLANEOUS

8.1.     No Waiver of Rights. No failure or delay on the part of any party in
         the exercise of any power, right or privilege hereunder shall operate
         as a waiver thereof, and no single or partial exercise of any such
         power, right or privilege shall preclude other or further exercise
         thereof or of any other right, power or privilege. All rights and
         remedies existing under this Agreement are cumulative with, and not
         exclusive of, any rights or remedies otherwise available. No waiver
         shall be binding unless in writing and signed by the party to be
         charged or a qualified officer thereof.

8.2.     Publicity. No party to this Agreement will issue any press release or
         otherwise make any public statements or announcements concerning this
         Agreement or the transactions contemplated by this Agreement without
         the prior written consent of the other parties.

8.3.     Confidentiality.

         8.3.1.   Each party shall use information provided by the other
                  party(ies) or obtained in the course of the transactions as
                  contemplated hereunder to fully and diligently carry out the
                  obligations under this Agreement or as required by law, but
                  not for any other purpose.

         8.3.2.   Each party agrees to maintain the confidentiality of all
                  information and data relating to the other party(ies)'s
                  business received from the other party(ies) including without
                  limitation economical, financial and/or technical information,
                  disclosed, directly or indirectly, or disclosed by visual
                  inspection, and shall not disclose such information and data
                  to a third party without the prior written consent of the
                  other party(ies), provided, however, that the preceding
                  obligation shall not apply to information which (i) was in the
                  public domain at the time of disclosure; (ii) enters the
                  public domain after the time of disclosure, without the
                  receiving party's fault; (iii) is required to be disclosed by
                  law or order of the court, in which case, the receiving party
                  shall notify the other party(ies) of such statutory
                  requirement or court order prior to the disclosure; or (iv)
                  has been acquired from third parties which had not previously
                  acquired it, directly or indirectly, from the disclosing
                  party(ies).

         8.3.3.   Each party shall procure that its employees, servants and
                  agents are bound by the

                                       14
<PAGE>

                  confidentiality obligations on terms set out above.

8.4.     Notice. All notices hereunder shall be in writing and shall be either
         personally delivered, transmitted by telecopier, or transmitted by
         internationally recognized courier service to the parties listed below
         at their respective addresses. Except as otherwise specified herein,
         all notices and other communications shall be deemed to have been duly
         given on (a) the date of delivery, in the case of notice by personal
         delivery, (b) the date of electronically confirmed transmission, in the
         case of notice by telecopier, and (c) three (3) days after dispatch, in
         the case of delivery by an internationally recognized courier service.
         For purposes hereof, the addresses of the parties (until notice of a
         change thereof is given as provided in this Section 8.4.), shall be as
         follows:

         If to Seller:

         MEDIAPLEX, INC.

         7F, Cinehouse B/D
         91-6 Nonhyun-dong
         Kangnam-ku
         Seoul, Republic of Korea
         Attention: Woo Taek Kim
         Telephone: 82-2-3218-5555
         Facsimile: 82-2-3218-5600

         If to Buyer:

         LOEWS CINEPLEX ENTERTAINMENT CORPORATION
         711 Fifth Avenue
         New York, NY  10022
         Attn:  John C. McBride, Jr.
                  General Counsel
         Telephone:  1-212-833-6352
         Facsimile:  1-212-833-8379

         with a copy to: the same address

         John J. Walker
         Senior Vice President and Chief Financial Officer
         Telephone:  1-212-833-6687
         Facsimile:  1-212-833-6512

         With a copy to: the same address
         Travis Reid
         President and CEO
         Telephone: 1-212-833-6651
         Facsimile: 1-212-833-6375

                                       15
<PAGE>

         With a copy to:
         DW Partners
         KMD Bldg. 7th Floor
         652-16, Shinsa-dong
         Kangnam-ku
         Seoul, 135-897, Republic of Korea
         Attention: Chunghwan Choi
         Facsimile: 822-512-6060

         If to the Company:

         MEGABOX CINEPLEX, INC.

         7F, Cinehouse B/D
         91-6 Nonhyun-dong
         Kangnam-ku
         Seoul, Republic of Korea
         Attention: Representative Director
         Telephone:  82-2-3218-5555
         Facsimile:  82-2-3218-5600

8.5.     Governing Law. This Agreement and the rights and obligations of the
         parties hereto shall be governed by and construed in accordance with
         the laws of the Republic of Korea, without regard to conflicts of laws
         principles.

8.6.     Jurisdiction. The Seoul District Court shall have jurisdiction over any
         disputes or litigation that may arise out of or in relation to this
         Agreement.

8.7.     Counterpart Originals. This Agreement may be executed simultaneously in
         any number of counterparts each of which shall be deemed an original
         but all of which together shall constitute one and the same instrument.

8.8.     Assignment; Successors. This Agreement shall inure to the benefit of
         and be binding upon the heirs, successors and assigns of all parties
         and may not be assigned to a third party without prior written consent
         of the other parties.

8.9.     Entire Agreement; Modifications; Severability. This Agreement
         constitutes the entire agreement between the parties pertaining to the
         subject matter hereof and supersedes all prior agreements,
         representations and understandings, written or oral, of the parties.
         This Agreement may not be modified or amended except by a writing
         signed by each of the parties hereto (and by a qualified officer if
         such party is a legal entity). The invalidity, illegality or
         unenforceability for any reason of any one or more provisions of this
         Agreement shall not affect the validity, legality or enforceability of
         the remainder of this Agreement.

                                       16
<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by their respective duly authorized officers on the date first above written.

MEDIAPLEX, INC.

By: /s/ Tam, Chul Kon
    ---------------------------------------
Name:    Tam, Chul Kon
Title:   President

LOEWS CINEPLEX ENTERTAINMENT CORPORATION

By: /s/ John C. McBride, Jr.
    ---------------------------------------
Name:    John C. McBride, Jr.
Title:   Senior Vice President
         and General Counsel

MEGABOX CINEPLEX, INC.

By: /s/ Tam, Chul Kon
    ---------------------------------------
Name:    Tam, Chul Kon
Title:   President

                                       17

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