Document:

Joint Defense and Common Interest Agreement

 Exhibit 10.23 
 PRIVILEGED & CONFIDENTIAL 
 ATTORNEY WORK PRODUCT 
 SUBJECT TO JOINT DEFENSE AND COMMON INTEREST PRIVILEGE 
 JOINT DEFENSE AND COMMON INTEREST AGREEMENT 
 THIS JOINT DEFENSE AND COMMON INTEREST AGREEMENT (“Agreement”) is
entered into between and among the undersigned legal counsel, on behalf of themselves as counsel, their respective law firms, associated employees and consultants, and their respective clients in this matter (specifically, AMC Entertainment, Inc.,
Regal Entertainment Group and Cinemark, Inc.). Each client is referred to herein as a “Party,” and the clients are referred to collectively as “the Parties.” 
 WHEREAS AMC Entertainment, Inc. and Regal Entertainment Group have entered into a new joint venture in the field of advertising and promotion; and

 WHEREAS the Parties are discussing the possibility of Cinemark, Inc. participating in the ownership of the joint venture (hereinafter
“the Transaction”); and 
 WHEREAS the Transaction may become the subject of a filing for competition- related approval or
clearance, a governmental inquiry, investigation, administrative or regulatory proceedings, or litigation in the United States of America or elsewhere (collectively “Proceedings”); and 
 WHEREAS the Parties recognize that they have a common interest in assuring that their legal rights in discussing, negotiating and effecting the
Transaction are fully protected in the event of any Proceedings; and 

 PRIVILEGED & CONFIDENTIAL 
 ATTORNEY WORK PRODUCT 
 SUBJECT TO JOINT DEFENSE AND
COMMON INTEREST PRIVILEGE 
  

 WHEREAS the Parties recognize that it is likely to be in their best interest, in defending or
asserting their respective legal rights in any Proceedings, to share a variety of information and resources related to the Transaction, without waiving or otherwise risking loss of the protection of the attorney-client privilege, the work-product
doctrine, or other applicable privileges, nondisclosure agreements, or legal protections (collectively “Privileges”); 
 NOW
THEREFORE the Parties hereby memorialize in writing this Agreement for their joint defense and common interest, as follows: 
 1. The Parties
acknowledge that they have certain common interests in advocating or defending their interests regarding the Transaction in any Proceedings. The Parties also acknowledge that it may be in their best interests in the sole discretion of each Party:
(a) to exchange and jointly develop information, legal theories, and other material related to the Transaction otherwise protected by all or any of the Privileges (“Joint Defense Information”); and (b) to pool their respective
work product in a joint and common defense. To the extent the Parties choose to share or jointly develop Joint Defense Information, the terms of this Agreement apply. Nothing herein shall be construed to require one Party to share privileged
information or communications with another Party; nor shall this Agreement be construed to alter any of the rights or obligations set forth in any confidentiality, non-disclosure or other agreement already entered into by the Parties in connection
with this Transaction. 
 2. Each Party agrees that all Joint Defense Information exchanged or jointly developed pursuant to this Agreement
is communicated in confidence for the purposes of 

  

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securing or communicating legal advice and representation and shall not be used for any other purpose, and is therefore subject to: 
 (a) any and all of the Privileges belonging to the party conveying or jointly developing the information, which Privileges may not be waived without the prior
written consent of such Party, which consent will not be unreasonably withheld when requested by the other Party; and (b) the terms of this Agreement. Any inadvertent or purposeful disclosure by any Party of information exchanged pursuant to
this Agreement shall not constitute a waiver of any Privilege of any other Party. 
 3. To ensure the confidentiality of Joint Defense
Information and to preserve any and all of the Privileges belonging to each Party, each Party agrees not to, without the written consent of the other Party from which Joint Defense Information was received or which jointly participated in the
development of that Joint Defense Information, give, show, make available, or communicate in anyway any such Joint Defense Information to anyone other than: (a) the signatories to this Agreement, (b) in the case of external counsel, the
partners, associates, counsel, staff and other employees of the respective law firms that are working on the Transaction and/or any Proceedings, (c) in the case of internal counsel, the lawyers and legal department support staff that are
working on the Transaction and/or any Proceedings, and (d) independent consultants or experts retained by the Parties in connection with the Proceedings; provided, however, that any such attorney, consultant, or expert must agree to abide by
the confidentiality and other provisions of this Agreement prior to receiving any Joint Defense Information. To ensure that any attorney, consultant, or expert whom a party may retain in connection with the 

  

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Transaction agrees to abide by the confidentiality provisions of this Agreement before receiving any Joint Defense Information, each Party shall provide a
copy of this Agreement to any such attorney, consultant, or expert together with a document stating that one of the terms of the engagement of the attorney, consultant, or expert is that such person agrees to be bound by the confidentiality
provisions of this Agreement. Joint Defense Information shall not be further disclosed to any other person unless authorized in writing by the party or Parties that originated the Joint Defense Information. Regardless of whatever Joint Defense
Information is created and/ 
 or shared, and unless the Parties subsequently agree otherwise in writing, each Party is responsible, at its sole cost and
expense, for all advice and counsel provided by its own attorneys, consultants, and experts. 
 4. Each Party or its counsel may designate
certain very competitively sensitive or otherwise highly confidential proprietary Joint Defense Information as “Highly Confidential.” All “Highly Confidential” Joint Defense Information shall be shared with and solely for the use
of the Parties’ external counsel only. External counsel shall not share any “Highly Confidential” Joint Defense Information with the Party that is their client, except with the prior written consent of the providing Party or the
providing Party’s counsel. 
 5. If any government entity or other person requests or demands, by subpoena or otherwise, that a Party
produce Joint Defense Information received from the other Party or jointly developed by the Parties, the Party to which the request or demand is addressed shall assert at its sale cost or expense all applicable Privileges, and shall 

  

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immediately upon receiving the request or demand notify the other party about the request or demand and indicate the Joint Defense Information covered by the
government request or demand so as to afford such Party the opportunity to intervene in any Proceeding to assert any applicable Privilege on its own behalf and at its own cost or expense. In the event that disclosure is ordered notwithstanding the
assertion of any applicable Privilege, the Parties shall cooperate in seeking an appropriate protective order to limit the extent and nature of disclosure. 
 6. Each Party agrees that the sharing of Joint Defense Information between the parties pursuant to this Agreement does not waive (a) any Privilege, or (b) the confidentiality of such Joint Defense
Information which has been designated confidential pursuant to a Protective Order or which is otherwise confidential, and further agrees that no Party may claim such a waiver. 
 7. The sharing of Joint Defense Information pursuant to this Agreement shall not prevent a Party from asserting any claim, at law or in equity, against
any other Party in any proceeding. If there is any proceeding between the Parties in the future (including a proceeding involving additional parties not involved in this Joint Defense Agreement), no Party may use against another Party in that
proceeding Joint Defense Information received from that Party or jointly developed by the Parties. Furthermore, no oral or written statements made by one Party to another Party and covered by this Agreement shall be deemed an admission in that
proceeding. The Parties further agree to enter into a stipulated protective order in any subsequent proceeding between or among them that shall protect all Joint Defense Information from disclosure to third parties. 
  

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 8. The Parties agree that no adequate remedy is available at law for a breach of this Agreement and
that, in addition to any other remedies available, performance of this Agreement may be specifically ordered, a breach hereof may be enjoined, or both. 
 9. In the event that any provision of this Agreement shall be held by any court of competent jurisdiction to be illegal, void, or unenforceable, that provision shall have no force or effect, but its illegality or
unenforceability shall neither affect nor impair the enforceability of any other provision of this Agreement. 
 10. This Agreement may not
be amended, except by an instrument in writing signed by all Parties. 
 11. This Agreement may be signed in separate counterparts, each of
which shall be binding on the Parties who, through their counsel, are signatory to any counterpart. 
 12. This Agreement applies to all
exchanges of Joint Defense Information between the Parties before execution of this Agreement and is intended as the written embodiment of the Parties’ prior oral joint defense agreement. This Agreement is meant to reaffirm and supplement the
prior Joint Defense and Common Interest Agreement entered into by the parties and their counsel dated August 16,2004, and applies to any exchanges of Joint Defense Information under that prior agreement. 
 13. Subject to the Parties’ respective rights and obligations under any nondisclosure, confidentiality or other agreement made in connection with
this Transaction. any Party is free to withdraw from (and in that limited sense thereby terminate) this Joint Defense Agreement upon written notice to the other Party or its 

  

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counsel. Upon notice of withdrawal, each Party shall promptly return all documents in the nature of Joint Defense Information received from the other Party
pursuant to this Agreement and shall continue to protect from disclosure to any third party all oral and written Joint Defense Information previously disclosed to it by the other Party or jointly developed by the Parties. Each party shall continue
to be bound by this Agreement with regard to the required confidential treatment of any Joint Defense Information received by it or its counsel from the other Party or that Party’s counselor jointly developed by the Parties or the parties’
counsel prior to the withdrawal. 
 14. Upon the completion of all Proceedings or the termination of all discussion between the parties with
respect to the Transaction, each Party shall promptly return all documents in the nature of Joint Defense Information received from the other Party pursuant to this Agreement and shall continue to protect from disclosure to any third party all oral
and written Joint Defense Information previously disclosed to it by the other Party or jointly developed by the Parties. Each Party shall continue to be bound by this Agreement with regard to the required confidential treatment of any Joint Defense
Information received by it or its counsel from the other Party or that Party’s counselor jointly developed by the Parties or the Parties’ counsel prior to the withdrawal. 
 15. This Agreement shall terminate upon the completion of all Proceedings, or upon cessation of discussions between the Parties. 
 16. This Agreement shall be construed and interpreted, and the rights of the Parties shall be determined. in accordance with the substantive laws of the
State of New York for contracts expected and likely to be performed solely within such State without regard to the conflict of laws principles thereof or of any other jurisdiction. 
  

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 17. Nothing contained herein or done pursuant to this Agreement shall be deemed to create an
attorney-client relationship between one Party’s counsel and the other Party. The fact that a Party’s counsel has executed this Agreement and from time to time received Joint Defense Information from the other party or its counsel pursuant
to this Agreement shall not in any way preclude (or be used as a basis for seeking disqualification preventing) the first Party’s counsel and those working with such counsel from fully representing any interest of that Party, including
representation that may be construed as being adverse to the other Party (such as but not limited to examining or cross-examining any officer or employee of such other Party in any proceeding). The undersigned counsel for each Party represent that
they have specifically advised their respective client of this paragraph in the Agreement. 
  

					
	Dated: March 3, 2005	 	By:	 	 /s/ Joseph G. Krauss

		 		 	Joseph G. Krauss
		 		 	HOGAN & HARTSON
		 		 	Attorneys for Regal Entertainment Group
			
	Dated: March 3, 2005	 	By:	 	 /s/ Abbott B. Lipsky, Jr.

		 	Name:	 	Abbott B. Lipsky, Jr.
		 		 	LATHAM & WATKINS
		 		 	Attorneys for AMC Entertainment, Inc.

  

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 JOINT DEFENSE AND COMMON INTEREST AGREEMENT 
 THIS JOINT DEFENSE AND COMMON INTEREST AGREEMENT (“Agreement”) is entered into between and among the undersigned legal counsel, on behalf of
themselves as counsel, their respective law firms, associated employees and consultants, and their respective clients in this matter (specifically, AMC Entertainment, Inc. and Regal Entertainment Group). Each client is referred to herein as a
“Party,” and the clients are referred to collectively as “the Parties.” 
 WHEREAS the Parties are discussing the
possibility of entering into a new joint venture in the field of advertising and promotion (hereinafter “the Transaction”); and WHEREAS the Transaction may become the subject of a filing for competition- related approval or clearance, a
governmental inquiry, investigation, administrative or regulatory proceedings, or litigation in the United States of America or elsewhere (collectively “Proceedings”); and 
 WHEREAS the Parties recognize that they have a common interest in assuring that their legal rights in discussing, negotiating and effecting the
Transaction are fully protected in the event of any Proceedings; and 
 WHEREAS the Parties recognize that it is likely to be in their best
interest, in defending or asserting their respective legal rights in any Proceedings, to share a variety of information and resources related to the Transaction, without waiving or otherwise risking loss of the protection of the attorney-client
privilege, the work-product doctrine, or other applicable privileges, nondisclosure agreements, or legal protections (collectively “Privileges”); 

 PRIVILEGED & CONFIDENTIAL 
 ATTORNEY WORK PRODUCT 
 SUBJECT TO JOINT DEFENSE AND
COMMON INTEREST PRIVILEGE 
  

 NOW THEREFORE the Parties hereby memorialize in writing this Agreement for their joint defense and
common interest, as follows: 
 1. The Parties acknowledge that they have certain common interests in advocating or defending their interests
regarding the Transaction in any Proceedings. The Parties also acknowledge that it may be in their best interests in the sole discretion of each Party: (a) to exchange and jointly develop information, legal theories, and other material related
to the Transaction otherwise protected by all or any of the Privileges (“Joint Defense Information”); and (b) to pool their respective work product in a joint and common defense. To the extent the Parties choose to share or jointly
develop Joint Defense Information, the terms of this Agreement apply. Nothing herein shall be construed to require one Party to share privileged information or communications with another Party; nor shall this Agreement be construed to alter any of
the rights or obligations set forth in any confidentiality, non-disclosure or other agreement already entered into by the Parties in connection with this Transaction. 
 2. Each Party agrees that all Joint Defense Information exchanged or jointly developed pursuant to this Agreement is communicated in confidence for the purposes of securing or communicating legal advice and
representation and shall not be used for any other purpose, and is therefore subject to: (a) any and all of the Privileges belonging to the Party conveying or jointly developing the information, which Privileges may not be waived without the
prior written consent of such Party, which consent will not be 

  

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 unreasonably withheld when requested by the other Party; and (b) the terms of this Agreement. Any inadvertent or
purposeful disclosure by any Party of information exchanged pursuant to this Agreement shall not constitute a waiver of any Privilege of any other Party. 
 3. To ensure the confidentiality of Joint Defense Information and to preserve any and all of the Privileges belonging to each Party, each Party agrees not to, without the written consent of the other Party from which
Joint Defense Information was received or which jointly participated in the development of that Joint Defense Information, give, show, make available, or communicate in any way any such Joint Defense Information to anyone other than: (a) the
signatories to this Agreement, (b) in the case of external counsel, the partners, associates, counsel, staff and other employees of the respective law firms that are working on the Transaction and/or any Proceedings, (c) in the case of
internal counsel, the lawyers and legal department support staff that are working on the Transaction and/or any Proceedings, and (d) independent consultants or experts retained by the Parties in connection with the Proceedings; provided,
however, that any such attorney, consultant, or expert must agree to abide by the confidentiality and other provisions of this Agreement prior to receiving any Joint Defense Information. To ensure that any attorney, consultant, or expert whom a
Party may retain in connection with the Transaction agrees to abide by the confidentiality provisions of this Agreement before receiving any Joint Defense Information, each Party shall provide a copy of this Agreement to any such attorney,
consultant, or expert together with a document stating that one of the terms of the engagement of the attorney, consultant, or expert is that such 

  

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 person agrees to be bound by the confidentiality provisions of this Agreement. Joint Defense Information shall not be
further disclosed to any other person unless authorized in writing by the Party or Parties that originated the Joint Defense Information. Regardless of whatever Joint Defense Information is created and/or shared, and unless the Parties subsequently
agree otherwise in writing, each Party is responsible, at its sole cost and expense, for all advice and counsel provided by its own attorneys, consultants, and experts. 
 4. Each Party or its counsel may designate certain very competitively sensitive or otherwise highly confidential proprietary Joint Defense Information as “Highly Confidential.” All “Highly
Confidential” Joint Defense Information shall be shared with and solely for the use of the Parties’ external counsel only. External counsel shall not share any “Highly Confidential” Joint Defense Information with the Party that
is their client, except with the prior written consent of the providing Party or the providing Party’s counsel. 
 5. If any government
entity or other person requests or demands, by subpoena or otherwise, that a Party produce Joint Defense Information received from the other Party or jointly developed by the Parties, the Party to which the request or demand is addressed shall
assert at its sole cost or expense all applicable Privileges, and shall immediately upon receiving the request or demand notify the other Party about the request or demand and indicate the Joint Defense Information covered by the government request
or demand so as to afford such Party the opportunity to intervene in any Proceeding to assert any applicable Privilege on its own behalf and at its own cost or 

  

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 expense. In the event that disclosure is ordered notwithstanding the assertion of any applicable Privilege, the
Parties shall cooperate in seeking an appropriate protective order to limit the extent and nature of disclosure. 
 6. Each Party agrees that
the sharing of Joint Defense Information between the parties pursuant to this Agreement does not waive (a) any Privilege, or (b) the confidentiality of such Joint Defense Information which has been designated confidential pursuant to a
Protective Order or which is otherwise confidential, and further agrees that no Party may claim such a waiver. 
 7. The sharing of Joint
Defense Information pursuant to this Agreement shall not prevent a Party from asserting any claim, at law or in equity, against any other Party in any proceeding. If there is any proceeding between the Parties in the future (including a proceeding
involving additional parties not involved in this Joint Defense Agreement), no Party may use against another Party in that proceeding Joint Defense Information received from that Party or jointly developed by the Parties. Furthermore, no oral or
written statements made by one Party to another Party and covered by this Agreement shall be deemed an admission in that proceeding. The Parties further agree to enter into a stipulated protective order in any subsequent proceeding between or among
them that shall protect all Joint Defense Information from disclosure to third parties. 
 8. The Parties agree that no adequate remedy is
available at law for a breach of this Agreement and that, in addition to any other remedies available, performance of this Agreement may be specifically ordered, a breach hereof may be enjoined, or both. 
  

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 9. In the event that any provision of this Agreement shall be held by any court of competent
jurisdiction to be illegal, void, or unenforceable, that provision shall have no force or effect, but its illegality or unenforceability shall neither affect nor impair the enforceability of any other provision of this Agreement. 
 10. This Agreement may not be amended, except by an instrument in writing signed by all Parties. 
 11. This Agreement may be signed in separate counterparts, each of which shall be binding on the Parties who, through their counsel, are signatory to any
counterpart. 
 12. This Agreement applies to all exchanges of Joint Defense Information between the Parties before execution of this
Agreement and is intended as the Written embodiment of the parties’ prior oral joint defense agreement. This Agreement is meant to reaffirm and supplement the prior Joint Defense and Common Interest Agreement entered into by the parties and
their counsel dated August 16, 2004, and applies to any exchanges of Joint Defense Information under that prior agreement. 
 13.
Subject to the parties’ respective rights and obligations under any nondisclosure, confidentiality or other agreement made in connection with this Transaction, any Party is free to withdraw from (and in that limited sense thereby terminate)
this Joint Defense Agreement upon written notice to the other Party or its counsel. Upon notice of withdrawal, each Party shall promptly return all documents in the nature of Joint Defense Information received from the other Party pursuant to this
Agreement and shall continue to protect from disclosure to any third party all oral and 

  

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 written Joint Defense Information previously disclosed to it by the other Party or jointly developed by the Parties.
Each Party shall continue to be bound by this Agreement with regard to the required confidential treatment of any Joint Defense Information received by it or its counsel from the other Party or that Party’s counselor jointly developed by the
Parties or the Parties’ counsel prior to the withdrawal. 
 14. Upon the completion of all Proceedings or the termination of all
discussion between the Parties with respect to the Transaction, each Party shall promptly return all documents in the nature of Joint Defense Information received from the other Party pursuant to this Agreement and shall continue to protect from
disclosure to any third party all oral and written Joint Defense Information previously disclosed to it by the other Party or jointly developed by the Parties. Each Party shall continue to be bound by this Agreement with regard to the required
confidential treatment of any Joint Defense Information received by it or its counsel from the other Party or that Party’s counselor jointly developed by the Parties or the Parties’ counsel prior to the withdrawal. 
 15. This Agreement shall terminate upon the completion of all Proceedings, or upon cessation of discussions between the Parties. 
 16. This Agreement shall be construed and interpreted, and the rights of the Parties shall be determined, in accordance with the substantive laws of the
State of New York for contracts expected and likely to be performed solely within such State without regard to the conflict of laws principles thereof or of any other jurisdiction. 
 17. Nothing contained herein or done pursuant to this Agreement shall be deemed to create an attorney-client relationship between one Party’s
counsel and the other 

  

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 Party. The fact that a Party’s counsel has executed this Agreement and from time to time received Joint Defense
Information from the other Party or its counsel pursuant to this Agreement shall not in any way preclude (or be used as a basis for seeking disqualification preventing) the first Party’s counsel and those working with such counsel from fully
representing any interest of that Party, including representation that may be construed as being adverse to the other Party (such as but not limited to examining or cross-examining any officer or employee of such other Party in any proceeding). The
undersigned counsel for each Party represent that they have specifically advised their respective client of this paragraph in the Agreement. 
  

					
	Dated: July 13, 2005	 	By:	 	 /s/ Joseph G. Krauss

		 		 	Joseph G. Krauss
		 		 	HOGAN & HARTSON
		 		 	Attorneys for Regal Entertainment Group
			
	Dated: July 13, 2005	 	By:	 	 /s/ Abbott B. Lipsky, Jr.

		 	Name:	 	Abbott B. Lipsky, Jr.
		 		 	LATHAM & WATKINS
		 		 	Attorneys for AMC Entertainment, Inc.
			
	Dated: July 13, 2005	 	By:	 	 /s/ Paul B. Hewitt

		 	Name:	 	Paul B. Hewitt
		 		 	AKIN GUMP STRAUSS HAUER & FELD
		 		 	Attorneys for Cinemark, Inc.

  

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 AMENDMENT TO JOINT DEFENSE AND COMMON INTEREST AGREEMENT 
 THIS AMENDMENT TO JOINT DEFENSE AND COMMON INTEREST AGREEMENT (this “Amendment”) is entered into, effective as of this 1st day of July, 2006,
between and among the undersigned legal counsel, on behalf of themselves as counsel, their respective law firms, associated employees and consultants, and their respective clients in this matter (specifically, AMC Entertainment, Inc.
(“AMC”), Regal Entertainment Group (“Regal”), Cinemark, Inc. (“Cinemark”) and National CineMedia, LLC (“NCM”)). Each client is referred to herein as a “Party,” and the clients are referred to
collectively as the “Parties.” All capitalized terms used herein that are not otherwise defined shall have the meaning given such term in the JDA (as defined below). 
 WHEREAS, AMC, Cinemark, and Regal, through wholly-owned subsidiaries, have entered into a joint venture in the field of advertising and promotion through
the formation of NCM; and 
 WHEREAS, in connection with the formation of NCM, AMC and Regal, among others, entered into that certain Joint
Defense and Common Interest Agreement, dated August 16, 2004 (the “Original JDA”), which Original JDA was supplemented by that certain Joint Defense and Common Interest Agreement, dated July 13, 2005, by and among counsel for
AMC, Regal and Cinemark (the “Amended JDA” and together with the Original JDA, the “JDA”); 

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 WHEREAS, the Parties are discussing the possibility of restructuring and recapitalizing NCM in
connection with the issuance of debt and the initial public offering of NCM and related transactions related thereto (the “Transaction”) and in connection therewith desire to add NCM as a Party to the JDA and to amend the defined term
“Transaction” in the JDA to include those transactions included in the above defined term “Transaction”; and 
 WHEREAS
the Parties recognize that they have a common interest in assuring that their legal rights in discussing, negotiating and effecting the Transaction are fully protected in the event of any Proceedings; and 
 WHEREAS the Parties recognize that it is likely to be in their best interest, in defending or asserting their respective legal rights in any Proceedings,
to share a variety of information and resources related to the Transaction, without waiving or otherwise risking loss of the protection of any Privileges; 
 NOW THEREFORE the Parties hereby memorialize in writing this Amendment for their joint defense and common interest, as follows: 
 1. The Parties desire to amend the JDA to specifically add NCM as a “Party” to the JDA whereby NCM shall be subject to all the terms, conditions and obligations of the JDA without limitation and NCM hereby
agrees to be bound by, and subject to, the terms, conditions and obligations of the JDA without limitation. 
 2. The Parties desire to amend
the define term “Transaction” in the JDA to include those transactions included in the defined term “Transaction” above. 
  

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 3. In the event that any provision of this Amendment shall be held by any court of competent
jurisdiction to be illegal, void, or unenforceable, that provision shall have no force or effect, but its illegality or unenforceability shall neither affect nor impair the enforceability of any other provision of this Amendment. 
 4. This Amendment may not be amended, except by an instrument in writing signed by all Parties. 
 5. This Amendment may be signed in separate counterparts, each of which shall be binding on the Parties who, through their counsel, are signatory to any
counterpart. 
 6. This Amendment is meant to reaffirm and supplement the Original JDA and the Amended JDA, and except as expressly modified
pursuant to the terms of this Amendment, the Original JDA and the Amended JDA shall not be modified and shall remain in full force and effect . 
 7. This Amendment shall be construed and interpreted, and the rights of the Parties shall be determined, in accordance with the substantive laws of the State of New York for contracts expected and likely to be performed solely within
such State without regard to the conflict of laws principles thereof or of any other jurisdiction. 
 8. Nothing contained herein or done
pursuant to this Amendment shall be deemed to create an attorney-client relationship between one Party’s counsel and the other Party. The fact that a Party’s counsel has executed this Amendment and from time to time received Joint Defense
Information from the other Party or its counsel pursuant to the JDA or this Amendment shall not in any way preclude (or be used as a basis for 

  

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 seeking disqualification preventing) the first Party’s counsel and those working with such counsel from fully
representing any interest of that Party, including representation that may be construed as being adverse to the other Party (such as but not limited to examining or cross-examining any officer or employee of such other Party in any proceeding). The
undersigned counsel for each Party represent that they have specifically advised their respective client of this paragraph in the Amendment. 
 [Signature page follows] 
  

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	Dated: January     , 2007	 	By:	 	  

		 		 	Joseph G. Krauss
		 		 	HOGAN & HARTSON
		 		 	Attorneys for Regal Entertainment Group
			
	Dated: January     , 2007	 	By:	 	  

		 	Name:	 	  

		 		 	LATHAM & WATKINS
		 		 	Attorneys for AMC Entertainment, Inc.
			
	Dated: January     , 2007	 	By:	 	  

		 	Name:	 	  

		 		 	AKIN GUMP STRAUSS HAUER & FELD
		 		 	Attorneys for Cinemark, Inc.
			
	Dated: January     , 2007	 	By:	 	  

		 	Name:	 	  

		 		 	HOLME ROBERTS & OWEN LLP
		 		 	Attorneys for National CineMedia, LLC
			
	Dated: January     , 2007	 	By:	 	  

		 	Name:	 	  

		 		 	KIRKLAND & ELLIS
		 		 	Attorneys for Cinemark, Inc.

  

 5Amendment to the Amended and Restated Non-Qualified Pension Plan

 EXHIBIT 10.1 
 AMENDMENT TO THE 
 AMENDED AND RESTATED 
 NON-QUALIFIED PENSION PLAN 
 FOR OUTSIDE DIRECTORS 
 OF 
 TIDEWATER INC. 
 WHEREAS, Tidewater Inc., a Delaware corporation (the “Company”), has in effect the Amended and Restated Non-Qualified Pension Plan for Outside
Directors (the “Plan”); 
 WHEREAS, the Board of Directors of the Company wishes to (a) freeze Plan benefits as of
March 31, 2006, (b) terminate any further benefit accruals under the Plan, (c) provide Plan benefit credit for prior service on the Board for those directors who had not yet vested as of March 31, 2006, (d) permit
participants to transfer their right to receive benefits hereunder to family members or to charitable or other non-profit organizations, (e) allow participants to elect to receive a lump sum payout, discounted to reflect present value, rather
than installment payments and (f) amend the definition of the term “Cost of Borrowed Funds.” 
 NOW THEREFORE, the Plan is
hereby amended as follows: 
 1. Definitions. (a) All capitalized terms used herein and not defined herein shall have the meanings
provided in the Plan. 
 (b) Cost of Borrowed Funds means the interest rate paid on ten-year U.S. Treasury Notes at the
time of payment, plus 1.5%. 
 2. Freezing Benefits. All benefits to which an Outside Director is entitled under the Plan shall be
frozen as of March 31, 2006 and no further benefits shall accrue. An Outside Director shall receive credit for each full or partial quarter of service during the year ended March 31, 2006. For example, an Outside Director who had completed
seven months of service as of March 31, 2006 would receive three quarters of service credit for the year ended March 31, 2006 and would be entitled to an additional annual payment of 75% of $30,000, or $22,500, subject to the maximum of
five years of benefits for an Outside Director who joined the Board after March 31, 2001. 
 3. Vesting of Unvested Pension
Benefits. An Outside Director who had not served on the Board for a minimum of five years on March 31, 2006 and who had not attained age 65 on March 31, 2006 shall be entitled to receive the annual Pension for the period of service
that such Outside Director served on the Board, not to exceed five years. 
 4. Payment of Pension Benefits. All Pension benefits
shall be paid as provided in the Plan, unless an Outside Director elects to receive a lump sum benefit as described in Section 5. 
 5.
Payment Elections. 
 (a) As permitted by the transition rules under Section 409A of the Internal Revenue Code of
1986, as amended (“Section 409A”), the Plan, as amended hereby, 

  

 1 

 
allows an Outside Director to make an election by December 31, 2007 to receive his Pension benefit in a lump sum on the first business day of the
calendar quarter following the date the Outside Director ceased to serve as a member of the Board of Directors; provided, however, that any such election shall not take effect for 12 months from the date such election is received by the Company. If
an Outside Director makes an election to receive payment in a lump sum and leaves the Board within 12 months of making the lump sum election, the election will have no effect and quarterly payments of benefits will be made. 
 (b) An Outside Director may also make an election no later than December 31, 2007, in compliance with the transition rules of
Section 409A, to be paid out in a lump sum upon a “Change of Control.” The definition of “Change of Control” provided in the Plan is hereby revised to specify that a Change of Control will only be deemed to occur if such
event also constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the Company’s assets, as such terms are defined in Section 409A. Section 5.6 of the Plan is
hereby amended to change the election timing requirements and to change the definition of “Change of Control,” as provided in this Section 5(b). If an Outside Director makes an election to receive payment in a lump sum upon a Change
of Control and a Change of Control occurs within 12 months of making the lump sum election, the election will have no effect and quarterly payments of benefits will be made following termination of Board service. 
 (c) If an Outside Director makes an election to be paid out in a lump sum, the lump sum amount shall be calculated by applying the
Company’s Cost of Borrowed Funds as the present value discount rate. 
 (d) The Election Form shall be substantially in
the form attached as Exhibit A. 
 6. Assignability of Interests. Article IV of the Plan shall be amended to read as follows:

 4.1 Non-Assignability of Interests. Except as provided in Section 4.2 below, the interests herein and the right
to receive benefits hereunder may not be anticipated, alienated, sold, transferred, assigned, pledged, encumbered, or subjected to any charge or legal process. 
 4.2 Permitted Assignments. The interests herein and the right to receive benefits hereunder may be transferred (i) to
Immediate Family Members, (ii) to a partnership in which the Participant and/or Immediate Family Members, or entities in which the Participant and/or Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are
the sole partners, (iii) to a limited liability company in which the Participant and/or Immediate Family Members, or entities in which the Participant and/or Immediate Family Members are the sole owners, members or beneficiaries, as
appropriate, are the sole members, (iv) to a trust for the sole benefit of the participant and/or Immediate Family Members, or (v) to a charity or other non-profit organization. “Immediate 

  

 2 

 
Family Members” shall be defined as the spouse and natural or adopted children or grandchildren of the participant and their spouses. Any attempted
assignment, transfer, pledge, hypothecation or other disposition of a right to receive benefits hereunder or levy of attachment, or similar process upon a right to payment hereunder not specifically permitted herein, shall be null and void and
without effect. 
 7. Amendment, Discontinuance or Termination of the Plan. Sections 5.4 and 5.5 of the Plan shall be deleted and
replaced with the following: 
 The Board may amend or discontinue the Plan at any time; provided, however, that no
such amendment may materially impair, without the consent of the Participant, the Participant’s accrued benefits hereunder; and, provided further, that no amendment or discontinuance may accelerate a distribution from the Plan unless the
amendment or discontinuance is permitted under Section 409A. The Company may terminate the Plan and accelerate the payment of benefits as permitted in §1.409A-3(h)(2)(viii) of the currently proposed regulations under Section 409A (or
a successor provision) in the event of an arrangement termination in connection with a corporate dissolution or bankruptcy, in connection with a Change of Control or in connection with a termination of all arrangements that would be aggregated with
the Plan under Section 409A. 
 8. All Other Provisions. Except for changes to the Plan described herein, all other Plan
provisions shall remained unchanged. 
 Executed effective the 13th day of December, 2006. 
  

			
	TIDEWATER INC.
		
	By:	 	 /s/ Cliffe F. Laborde

		 	Cliffe F. Laborde
		 	Executive Vice President,
		 	Secretary and
		 	General Counsel

  

			
	Attest:
		
	By:	 	 /s/ Michael L. Goldblatt

		 	Michael L. Goldblatt
		 	Assistant Secretary

  

 3 

 Exhibit A 
 AMENDED AND RESTATED 
 NON-QUALIFIED PENSION PLAN 
 FOR OUTSIDE DIRECTORS 
 OF

 TIDEWATER INC. 
 Election to Receive Distribution in Lump Sum 
 I am a participant in the Amended and Restated Non-Qualified Pension Plan for
Outside Directors of Tidewater Inc., as amended through the date hereof (the “Plan”). I understand that my Plan benefits will be distributed to me in quarterly payments (or in a lump sum in the event of my death), unless I otherwise elect
within the time period provided in the Plan to receive my distribution in a lump sum. 
 (Please check below to receive payment of your Plan
benefits in a lump sum following termination of Board Service or upon a Change of Control.) 
  

	 	 ̈	I hereby elect to receive the distribution of my Plan benefits in a lump sum on the first business day of the calendar quarter following the date my Board service terminates,
discounted as provided in the Plan. 

  

	 	 ̈	I hereby elect to receive the distribution of my Plan benefits in a lump sum upon a Change of Control, discounted as provided in the Plan. 

 Note: 
  

	 	1.	If both boxes are checked, payout will occur on the earlier of the two dates. 

  

	 	2.	Any previous deferral elections submitted by the undersigned remain in effect unless cancelled in connection with this deferral election. If the undersigned previously submitted an
election form, a copy is attached. 

 Under the transition rules applicable to Section 409A of the Internal Revenue Code,
this election must be executed and delivered prior to December 31, 2007. However, 
 (a) if executed and received by Tidewater in
calendar year 2006, this election cannot apply to amounts that are otherwise payable in 2006, and 
 (b) if executed and received by
Tidewater in calendar year 2007, this election cannot apply to amounts that are otherwise payable in 2007. 
 Note: The
election made herein shall not take effect for 12 months and will not have effect if Board service terminates (other that as a result of death) or if a Change of Control occurs, within 12 months of Tidewater’s receipt of this Election Form.

 All the terms of this election shall be governed by the Plan and any amendment thereto. All of the terms and conditions of the Plan are
incorporated herein by reference. 
  

 A-1 

 I understand that the currently proposed regulations under Section 409A of the Internal Revenue Code
of 1986, as amended, impose strict limitations on any ability to make changes to this Election. I will be unable to make a change to this payout election after December 31, 2007. 
  

							
	Date:	 	  
	 		  	  

		 		 		  	(Signature of Participant)
				
		 		 		  	  

		 		 		  	(Print name of Participant)
			
	Received by Tidewater Inc.	 		  	
				
	Date:	 	  
	 		  	
				
	By:	 	  
	 		  	

  

 A-2

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