Document:

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                                 EXHIBIT 10.119

                  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
         OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. IT MAY
         NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, OR HYPOTHECATED UNLESS AND
         UNTIL REGISTERED UNDER SUCH ACT AND APPLICABLE LAWS, OR UNLESS THE
         COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER EVIDENCE,
         SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS
         NOT REQUIRED.

                  TRANSFER OF THIS DEBENTURE IS NOT VALID EXCEPT TO THE EXTENT
         THAT SUCH TRANSFER HAS BEEN MADE IN COMPLIANCE WITH THE PROVISIONS
         REGARDING TRANSFER CONTAINED HEREIN.

                                 CINEMANOW, INC.

                       CONVERTIBLE SUBORDINATED DEBENTURE

$215,000.000                                          MARINA DEL REY, CALIFORNIA
                                                                FEBRUARY 2, 2000

     CinemaNow, Inc., a California corporation (the "Company"), the principal
office of which is located at 4553 Glencoe Avenue, Suite 200, Marina del Rey,
California, for value received hereby promises to pay to the order of Trimark
Pictures, Inc., a California corporation, the sum of Two Hundred Fifteen
Thousand Dollars ($215,000), or such lesser amount as shall then equal the
outstanding principal amount hereof and any unpaid accrued interest hereon, as
set forth below, on June 30, 2001 (the "Maturity Date"), subject to the terms
hereof. This Debenture is issued in connection with the Securities Purchase
Agreement between the Company, the Holder and others dated as of January 6,
2000, as the same may from time to time be amended (the "Purchase Agreement").

     The following is a statement of the rights of the Holder of this Debenture
and the conditions to which this Debenture is subject, and to which the Holder
hereof, by the acceptance of this Debenture, agrees:

1.   DEFINITIONS. As used in this Debenture, the following terms, unless the
context otherwise requires, have the following meanings:

          (i) "Company" includes any corporation which shall succeed to or
assume the obligations of the Company under this Debenture.

          (ii) "Holder," when the context refers to a holder of this Debenture,
shall mean any person who shall at the time be the registered holder of this
Debenture.

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EXHIBIT 10.119 (CONTINUED)

          (iii) "Insolvency Proceeding" means any case or proceeding (x) under
the United States Bankruptcy Code, 11 U.S.C. Sections 101, ET SEQ., or (y) under
any other federal law, or under state law, to reorganize, liquidate, appoint a
trustee for, a receiver for or an assignee for the benefit of creditors of, the
Company, or all or substantially all of the assets of the Company, whether
voluntary or involuntary.

2.   INTEREST. This Debenture shall bear interest at the rate of eight percent
(8.00%) per annum (the "Interest Rate") on the principal of this Debenture
outstanding during the period beginning on the date of issuance of this
Debenture and ending on the date when the principal amount of this Debenture has
been paid in full or when the Debenture has been fully converted pursuant to
Section 6 hereof, whichever is earlier. Interest shall be due and payable on the
Maturity Date, or on such earlier date that the Debenture is paid in full or
fully converted pursuant to Section 6 hereof.

3.   EVENTS OF DEFAULT. If any of the events specified in this Section 3 shall
occur (herein individually referred to as an "Event of Default"), the Holder of
the Debenture may, so long as such condition exists and subject to Section 4 and
Section 6.7 hereof, declare the entire principal and unpaid accrued interest
hereon immediately due and payable, by notice in writing to the Company:

          (i) The institution by the Company of an Insolvency Proceeding, or the
consent by it to the institution of an Insolvency Proceeding or the filing by it
of a petition or answer or consent seeking an Insolvency Proceeding, or the
taking of corporate action by the Company in furtherance of any such action; or

          (ii) If, within sixty (60) days after the commencement of an action
against the Company (and service of process in connection therewith on the
Company) seeking an Insolvency Proceeding, such action shall not have been
resolved in favor of the Company or all orders or proceedings thereunder
affecting the operations or the business of the Company stayed, or if the stay
of any such order or proceeding shall thereafter be set aside, or if, within
sixty (60) days after the appointment without the consent or acquiescence of the
Company of any trustee, receiver or liquidator of the Company or of all or any
substantial part of the properties of the Company, such appointment shall not
have been vacated; or

          (iii) Any default of the Company declared in writing under any Senior
Indebtedness (as defined below) that gives the holder thereof the right to
accelerate such Senior Indebtedness; or

          (iv) Any declaration in writing that the Company is insolvent,
inadequately capitalized, or is unable to pay its debts as they fall due; or

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EXHIBIT 10.119 (CONTINUED)

          (v) Any default in the payment of the principal or interest of this
Debenture when due and payable, whether at maturity, by acceleration or
otherwise, and such default is not cured by the Company within ten (10) business
days; or

          (vi) The rendering of a final judgment or judgments (not subject to
appeal) against the Company or any of its subsidiaries in an amount in excess of
$1 million which remains undischarged or unstayed for a period of 60 (sixty)
days after the date on which the right to appeal has expired.

4.   SUBORDINATION AND RANKING. The indebtedness evidenced by this Debenture is
hereby expressly subordinated, to the extent and in the manner set forth herein,
in right of payment to the prior payment in full of all the Company's Senior
Indebtedness, as defined herein. For purposes of this Debenture, "Senior
Indebtedness" shall mean all indebtedness and payment obligations of the Company
of whatever nature other than any such obligations in respect of the Company's
Series A Convertible Preferred Stock. The indebtedness evidenced by this
Debenture shall rank PARI PASSU with all payment obligations of the Company in
respect of the Company's Series A Convertible Preferred Stock. By its acceptance
of this Debenture, the Holder of this Debenture agrees to be bound by the terms
hereof and agrees to execute and deliver such documents as may be reasonably
requested from time to time by the Company or the holder of any Senior
Indebtedness in order to implement the provisions of this Section 4.

5.   PREPAYMENT. The Company may at any time prepay in whole or in part the
principal sum of this Debenture, plus accrued interest, without penalty;
provided, however, that the Holder shall have the option to convert such
principal and interest into Common Stock (as defined below) pursuant to Section
6.1 hereof in lieu of accepting prepayment in cash.

6.   CONVERSION.

6.1  Conversion at Option of Holder. The Holder of this Debenture shall have the
option, at any time before payment in full of the principal balance of this
Debenture, to convert some or all of the outstanding principal balance of this
Debenture, plus unpaid accrued interest, in accordance with the provisions of
Section 6.4 hereof, into fully paid and nonassessable shares of Common Stock.

6.2  Conversion at Option of Company. The Company shall have the option as of
the Maturity Date, in lieu of cash payment, to convert some or all of the
outstanding principal balance of this Debenture, plus unpaid accrued interest,
in accordance with the provisions of Section 6.4 hereof, into fully paid and
nonassessable shares of Common Stock

6.3  Conversion Upon Event of Default. If an Event of Default occurs, the Holder
of this Debenture shall have the option, as the

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EXHIBIT 10.119 (CONTINUED)

Holder's sole and exclusive remedy for any such default while any of the
Company's Series A Convertible Preferred Stock remains outstanding, at any time
before payment in full of the principal balance of this Debenture, to convert
some or all of the outstanding principal balance of this Debenture, plus unpaid
accrued interest, in accordance with the provisions of Section 6.4 hereof, into
fully paid and nonassessable shares of Common Stock.

6.4  Conversion Price and Procedure. The number of shares of the common stock of
the Company, no par value ("Common Stock") into which this Debenture may be
converted pursuant to Section 6.1, 6.2 or 6.3 shall be determined by dividing
the aggregate outstanding principal amount to be converted, together with all
accrued but unpaid interest to the date of conversion, by the Conversion Price
(as defined herein) in effect at the time of such conversion. The "Conversion
Price" shall be an amount equal to $0.675 per share, subject to adjustment as
hereinafter provided.

     Before the Holder shall be entitled to convert this Debenture into shares
of Common Stock, it shall surrender this Debenture, duly endorsed, at the office
of the Company together with written notice in the form of the Notice of
Conversion attached to this Debenture of the election to convert all or some of
the same pursuant to Section 6.1 or 6.3, and shall state therein the name or
names in which the certificate or certificates for shares of Common Stock is to
be issued. At its expense, the Company shall, as soon as practicable thereafter,
issue and deliver to such Holder a certificate or certificates for the number of
shares of such Common Stock to which the Holder shall be entitled upon such
conversion (bearing such legends as are required by applicable state and federal
securities laws in the opinion of counsel to the Company), together with any
other securities and property to which the Holder is entitled upon such
conversion under the terms of this Debenture, including a check payable to the
Holder for any cash amounts payable for fractional shares, as described in
Section 6.5 below. In addition, if the Holder has converted only part of the
Debenture, the Company will issue to the Holder a new debenture for the amount
not converted with otherwise the same terms as the Debenture. In the event of
any conversion of this Debenture into Common Stock pursuant to Section 6.1, 6.2
or 6.3, such conversion shall be deemed to have been made immediately before the
close of business on the date of such surrender of the Debenture to be
converted. On and after such deemed conversion date, the Holder entitled to
receive the shares of such Common Stock issuable upon such conversion shall be
treated for all purposes as the record holder of such shares and shall be bound
by the terms of the Purchase Agreement.

If the Company is the subject of any of the proceedings described in paragraphs
(i) or (ii) of Section 3 of this Debenture, no stay, injunction, restraining
order or similar law, rule or order shall be effective as against the Holder for
purposes of this Section 6; PROVIDED that if any such stay, injunction,
restraining order or similar law, rule or order is effective against the Holder,
the Company expressly agrees to waive, modify or release such stay, injunction,
restraining order or

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EXHIBIT 10.119 (CONTINUED)

similar law, rule or order to permit the Holder to effect the conversion
provided in this Section 6, and to execute and prosecute all pleadings,
memoranda, affidavits, certificates, instruments and other documents necessary
or appropriate in the discretion of the Holder to effect such waiver,
modification, or release.

6.5  No Fractional Shares. No fractional shares of Common Stock shall be issued
upon conversion of all of the outstanding principal balance of this Debenture
into Common Stock. In lieu of the Company issuing any fractional shares to the
Holder upon the conversion of this Debenture into Common Stock, the Company
shall pay to the Holder the amount of outstanding principal that is not so
converted, such payment to be in the form as provided above.

6.6  No Further Obligations. Upon conversion of all of the outstanding principal
balance of this Debenture, together with all accrued but unpaid interest to the
date of conversion, the Company shall be forever released from all its
obligations and liabilities under this Debenture.

6.7  Remedies. The remedy contained in Section 6.3 of this Debenture shall be
the Holder's sole and exclusive remedy for any Event of Default or other
default under this Debenture (other than a default under the Company's
obligations to the Holder pursuant to the PARI PASSU ranking with payment
obligations in respect of the Company's Series A Convertible Preferred Stock
described in Section 4 above) while any of the Company's Series A Convertible
Preferred Stock remains outstanding, and the Holder hereof expressly
acknowledges and agrees that it shall have no right to commence any suit,
action, proceeding, or case, including an Insolvency Proceeding, in any court
or administrative or arbitral body for any relief or remedy except to enforce
the Holder's rights under Sections 4 and 6.3 while any of the Company's
Series A Convertible Preferred Stock remains outstanding.

     Upon the occurrence of an Event of Default, if none of the Company's Series
A Convertible Preferred Stock remains outstanding, the Holder may, so long as
such condition exists, declare the entire principal and interest hereon
immediately due and payable and, in addition, may pursue any and all other
rights and remedies available to it.

7.   CONVERSION PRICE ADJUSTMENTS.

7.1  Reclassification, Merger, Sale of Assets, etc. In case of any
reclassification, capital reorganization, or change of the outstanding Common
Stock of the Company (other than as a result of a subdivision, combination or
stock dividend), or in case of any consolidation of the Company with, or merger
of the Company into, another corporation or other business organization (other
than a

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EXHIBIT 10.119 (CONTINUED)

consolidation or merger in which the holders of the outstanding voting stock of
the Company immediately before the consummation of such transaction shall,
immediately after such transaction, hold, as a group, at least a majority of the
voting securities of the surviving or successor entity), or in case of any sale
or conveyance to another corporation or other business organization of the
property of the Company, as an entirety or substantially as an entirety, at any
time before the payment or conversion in full ("Full Payment") of the principal
and interest under this Debenture, then, as a condition of such
reclassification, reorganization, change, consolidation, merger, sale or
conveyance, lawful provision shall be made and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the
Holder of this Debenture, so that the Holder of this Debenture shall have the
right before Full Payment to convert pursuant to Section 6.1 the outstanding
principal and unpaid accrued interest under this Debenture into the kind and
amount of shares of stock and other securities and property receivable upon such
reclassification, reorganization, change, consolidation, merger, sale or
conveyance by a holder of the number of shares of Common Stock of the Company
which might have been acquired by the Holder of this Debenture upon full
conversion of such principal and interest immediately before such
reclassification, reorganization, change, consolidation, merger, sale or
conveyance, and in any such case appropriate provisions shall be made with
respect to the rights and interest of the Holder of this Debenture to the end
that the provisions hereof shall thereafter be applicable in relation to any
shares of stock, and other securities and property thereafter deliverable upon
conversion pursuant to Section 6.1 of outstanding principal and unpaid accrued
interest hereunder.

7.2  Split, Subdivision or Combination of Shares. If the Company shall at any
time before Full Payment of this Debenture subdivide its outstanding Common
Stock, by split-up or otherwise, or combine its outstanding Common Stock, or
issue additional shares of its capital stock in payment of a stock dividend in
respect of its Common Stock, the number of shares issuable on the conversion
pursuant to Section 6.1, 6.2 or 6.3 of the outstanding principal and unpaid
accrued interest under this Debenture shall forthwith be proportionately
increased in the case of a subdivision or stock dividend, or proportionately
decreased in the case of a combination, and the Conversion Price then applicable
to shares covered by the outstanding principal and unpaid accrued interest of
this Debenture shall forthwith be proportionately decreased in the case of a
subdivision or stock dividend, or proportionately increased in the case of a
combination.

7.3  Adjustments for Dividends in Stock or Other Securities or Property. If
before Full Payment of this Debenture, the holders of the securities as to which
conversion rights under this Debenture exist at the time shall receive, or, on
or after the record date fixed for the determination of eligible stockholders,
shall have become entitled to receive, without payment therefor, other or

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EXHIBIT 10.119 (CONTINUED)

additional stock or other securities or property (other than cash) of the
Company by way of dividend, then and in each case, this Debenture shall
represent the right to acquire upon conversion pursuant to Section 6.1, 6.2 or
6.3 of outstanding principal or unpaid accrued interest, in addition to the
number of shares of the security receivable upon full conversion of such
principal and interest, and without payment of any additional consideration
therefor, the amount of such other or additional stock or other securities or
property (other than cash) of the Company that such holder would hold on the
date of such conversion had it been the holder of record of the security
receivable upon full conversion of outstanding principal or unpaid accrued
interest under this Debenture on the record date of such dividend, giving effect
to all adjustments called for during such period by the provisions of this
Section 7.

7.4  No Impairment. The Company will not, by amendment of its Articles of
Incorporation or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issuance or sale of securities or any other voluntary
action, avoid or seek to avoid the observance or performance of the terms to be
observed or performed hereunder by the Company, but will at all times in good
faith assist in the carrying out of all the provisions of this Section 7 and in
the taking of all such action as may be necessary or appropriate in order to
protect the rights of the Holder against impairment.

7.5  Notices of Record Date, etc. In the event of:

          (i) Any taking by the Company of a record of the holders of any class
of securities of the Company for the purpose of determining the holders thereof
who are entitled to receive any dividend (other than a cash dividend payable out
of earned surplus at the same rate as that of the last such cash dividend
theretofore paid) or other distribution, or any right to subscribe for, purchase
or otherwise acquire any shares of stock of any class or any other securities or
property, or to receive any other right; or

          (ii) Any capital reorganization of the Company, any reclassification
or recapitalization of the capital stock of the Company or any transfer of all
or substantially all of the assets of the Company to any other person or any
consolidation or merger involving the Company; or

          (iii) Any voluntary or involuntary dissolution, liquidation or winding
up of the Company;

the Company will mail to the Holder at least twenty (20) days before the
earliest date specified therein, a notice specifying: (a) the date on which any
such record is to be taken for the purpose of such dividend, distribution or
right, and the amount and character of such dividend, distribution or right; and
(b) the date

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EXHIBIT 10.119 (CONTINUED)

on which any such reorganization, reclassification, transfer, consolidation,
merger, dissolution, liquidation or winding up is expected to become effective
and the record date for determining stockholders entitled to vote thereon.

7.6  RESERVATION OF STOCK ISSUABLE UPON CONVERSION. The Company shall at all
times reserve and keep available out of its authorized but unissued shares of
Common Stock solely for the purpose of effecting the conversion of the Debenture
such number of its shares of Common Stock as shall from time to time be
sufficient to effect the conversion of the Debenture; and if at any time the
number of authorized but unissued shares of Common Stock shall not be sufficient
to effect the conversion of the entire outstanding principal amount, in addition
to such other remedies as shall be available to the Holder of this Debenture,
the Company will use its best efforts to take such corporate action as may, in
the opinion of its counsel, be necessary to increase its authorized but unissued
shares of Common Stock to such number of shares as shall be sufficient for such
purposes.

8.   Assignment. Subject to the restrictions on transfer described in Section 10
below, the rights and obligations of the Company and the Holder of this
Debenture shall be binding upon and benefit the successors, assigns, heirs,
administrators and transferees of the parties; provided however, that, except in
connection with a sale of all or substantially all of the Company's assets and a
related assumption of the Company's liabilities, the Company will not assign
this Debenture without the prior written consent of the Holder, which consent
shall not be unreasonably withheld.

9.   Waiver and Amendment. Any provision of this Debenture may be amended,
waived or modified upon the written consent of the Company and the Holder of the
Debenture.

10.  Transfer of this Debenture or Securities Issuable on Conversion Hereof. The
Holder may not offer, sell or otherwise dispose of this Debenture without the
prior written consent of the Company, which consent shall not be unreasonably
withheld, except to an affiliate of the Holder (as that term is defined in the
Securities Act of 1933, as amended (the "Securities Act")). With respect to any
offer, sale or other disposition of this Debenture or Common Stock into which
such Debenture may be converted, the Holder will give prior written notice to
the Company thereto, describing briefly the manner thereof, together with a
written opinion of such Holder's counsel, to the effect that such offer, sale or
other distribution may be effected without registration or qualification (under
any federal or applicable state law then in effect). Such opinion shall be
reasonably satisfactory in form and substance to the Company and the Company's
counsel. Promptly upon receiving such notice and opinion, and provided that the
Company has determined to consent to such sale or other disposition with respect
to the Debenture, the Company, as promptly as practicable,

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EXHIBIT 10.119 (CONTINUED)

shall notify such Holder that such Holder may sell or otherwise dispose of this
Debenture or such Common Stock, all in accordance with the terms of the notice
delivered to the Company. If a determination has been made pursuant to this
Section 10 that the opinion of counsel for the Holder is not reasonably
satisfactory to the Company or the Company's counsel or that the Company will
not consent to such sale or other disposition with respect to the Debenture, the
Company shall so notify the Holder promptly after such determination has been
made. Each Debenture thus transferred and each certificate representing the
Common Stock thus transferred shall bear a legend as to the applicable
restrictions on transferability in order to ensure compliance with the
Securities Act, unless in the opinion of counsel for the Company such legend is
not required in order to ensure compliance with the Securities Act. The Company
may issue stop transfer instructions to its transfer agent in connection with
such restrictions.

11.  NOTICES. Unless otherwise provided, all notices and other communications
required or permitted under this Debenture shall be in writing and shall be
mailed by United States first-class mail, postage prepaid or delivered
personally by hand or by a nationally recognized courier addressed to the party
to be notified at the address indicated for such person on the signature page
hereof, or at such other address as such party may designate by ten (10) days'
advance written notice to the other parties hereto. All such notices and other
written communications shall be effective on the date of mailing or delivery.

12.  NO STOCKHOLDER RIGHTS. Nothing contained in this Debenture shall be
construed as conferring upon the Holder or any other person the right to vote or
to consent or to receive notice as a stockholder in respect of meetings of
stockholders for the election of directors of the Company or any other matters
or any rights whatsoever as a stockholder of the Company, and no dividends or
interest shall be payable or accrued in respect of this Debenture or the
interest represented hereby or the Common Stock obtainable hereunder until, and
only to the extent that, this Debenture shall have been converted.

13.  GOVERNING LAW. This Debenture shall be governed by and construed in
accordance with the laws of the State of California, excluding that body of law
relating to conflict of laws.

14.  HEADINGS; REFERENCES. All headings used herein are used for convenience
only and shall not be used to construe or interpret this Debenture. Except where
otherwise indicated, all references herein to Sections refer to Sections hereof.

                            [SIGNATURE PAGE FOLLOWS]

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EXHIBIT 10.119 (CONTINUED)

     IN WITNESS WHEREOF, the Company has caused this Debenture to be executed
this 2nd day of February, 2000.

                                 CINEMANOW, INC.

                                 By: /s/
                                   ------------------------------------
                                 Name: CURT MARVIS
                                 Title: CHIEF EXECUTIVE OFFICER
                                 Address: 4553 Glencoe Avenue, Suite 200
                                          Marina del Rey, CA 90292

AGREEMENT OF HOLDER:

The undersigned Holder agrees to be bound by the terms and conditions of the
foregoing Debenture, including without limitation the provisions of Section 4
("Subordination and Ranking") above.

TRIMARK PICTURES, INC.

By:   /s/
   --------------------------------------
Name:   JEFF GONZALEZ
Title:  CHIEF FINANCIAL OFFICER
Address: 4553 Glencoe Avenue, Suite 200
         Marina del Rey, California  90292

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EXHIBIT 10.119 (CONTINUED)

                              NOTICE OF CONVERSION

                   (To Be Signed Upon Conversion of Debenture)

CinemaNow, Inc.
Attn:  President
4553 Glencoe Avenue, Suite 200
Marina del Rey, California  90292

The undersigned, the Holder of the foregoing Debenture, hereby surrenders
such Debenture for conversion into shares of Common Stock of CinemaNow, Inc.
equivalent in amount of $______ principal amount of such Debenture plus all
unpaid accrued interest through the date of such conversion, and requests
that the certificates for such shares be issued in the name of, and delivered
to _____________________________, whose address is ___________________________.
If the principal amount requested for conversion is less than the full
outstanding principal amount of the Debenture, the Holder requests that the
Company issue to the Holder a new debenture for the amount not converted with
the same terms as the Debenture.

                                    Dated:__________________________

                                    TRIMARK PICTURES, INC.

                                    By: _______________________________
                                    Name: ____________________________
                                    Title: _____________________________
                                    Address: 4553 Glencoe Avenue, Suite 200
                                             Marina del Rey, CA 90292

                                       11<PAGE>

                                 EXHIBIT 10.120

                                    AGREEMENT

     This agreement (the "Agreement"), dated as of December 10, 1999,
memorializes the material terms of the agreement between Trimark Pictures, Inc.
("Trimark") and CinemaNow Inc. ("CN") concerning CN's rights and obligations to
advertise and exhibit certain Trimark motion pictures over the Internet.

     Trimark's obligations to CN hereunder and the grant of rights set forth
herein are contingent upon CN raising and receiving financing, independent of
Trimark, in the amount of two million dollars ($2,000,000.00) prior to February
1, 2000.

     A. ACKNOWLEDGEMENTS

     1. Trimark is a wholly owned subsidiary of Trimark Holdings, Inc. Trimark
Holdings, Inc. is the majority shareholder of CN.

     2. CN, by means of a series of private placement stock offerings, intends
to raise financing, which financing will be used as a portion of the
capitalization of CN.

     3. CN, at some point, if and when justified by the prevailing business
circumstances and conditions, may elect to raise additional capital by means of
an initial public offering or further private placements.

     4. Trimark has agreed to an exclusive output agreement with CN (except with
respect to the existing agreement between Trimark and Broadcast.com dated as of
February 22, 1999) with respect to the Internet Rights (defined below) to all
Trimark's motion pictures in the United States and Canada (in all instances, to
the extent Trimark controls such rights, from time to time) under the terms and
conditions set forth herein.

     5. Trimark shall have the right to sell or license all rights to its
Pictures at any time (but no more than three (3) Pictures per year), inclusive
of Internet Rights, provided further that such Internet Rights are included as
part of a bundle of rights.

B.       THE PICTURES

1.       Subject to the terms of this Agreement, the "Pictures" shall be all
         motion pictures which Trimark controls or to which Trimark obtains "all
         rights" and/or "video on demand" rights and/or the right to exhibit
         such motion picture over the Internet ("Internet Rights") during the
         term of this Agreement.

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EXHIBIT 10.120 (CONTINUED)

2.       (i) For the purposes of this agreement, the Internet shall mean any
         wired network (including, without limitation, the Internet, the
         Internet II, or any other online services network which utilize a
         combination of computer terminals, terminal servers, modems, cable
         modems, HFC, coaxial cable, xDSL, router, splitters, switches,
         multicasting technology, power lines, or other high speed wire data
         connections and any and all other wired networks) that distributes
         audio or video using digital algorithms, one and/or two-way digital
         services, or any wireless network that provides access to such wired
         network (except AM/FM radio broadcast stations and television broadcast
         stations, direct broadcast satellite, pay cable, basic cable and any
         other form of television and/or radio transmission).

         (ii) As of the date hereof, the consensus of the Parties, based upon
         analysis of existing contractual language, is that a grant of "all
         rights" and/or "video on demand" rights encompass a grant of Internet
         Rights, as such term is defined herein ("Consensus"). In the event that
         future judicial decisions, legislative acts, collective bargaining
         agreements which are binding upon either party, arbitration decisions
         which are binding upon either party, and/or similar authoritative
         determinations (collectively, "Precedential Decisions") mandate and/or
         require a definition of Internet Rights inconsistent with the
         Consensus, the parties agree to amend this Agreement to the minimum
         extent necessary to conform with the limitations required by such
         Precedential Decisions.

     C. THE RIGHTS

     1. Subject to all contractual third party restrictions with respect to the
Pictures, whether now existing or which exist as a result of Future Agreements
(defined below) (collectively, "Third Party Restrictions"), including without
limitation, restrictions set forth in acquisition agreements and domestic
television license agreements, publicity and promotional limitations in artist
agreements, and restrictions in international license agreements, Trimark hereby
grants to CN, to the extent controlled by Trimark, for each Picture, Advertising
Rights (defined below) and exclusive Internet Rights during the Alternative
Media Window ("AMW") (as defined in paragraph C5 below) in the United States and
Canada in the English Language.

     "Future Agreements" shall mean all acquisition, production and/or licensing
Agreements which Trimark enters into with respect to the Pictures after the date
of this Agreement. In entering into Future Agreements, Trimark shall use
commercially reasonable, good faith efforts to provide CN with an AMW of at
least six months for each Picture. In no event shall Future Agreements
substantially effect the number of Pictures for which rights are granted to CN
hereunder as of the date of this Agreement.

                                       2
<PAGE>

EXHIBIT 10.120 (CONTINUED)

     2. The "Advertising Rights" to the Pictures shall mean the right to
advertise and promote, using any and all means, methods, processes, devices or
media (whether now known or hereafter devised CN's rights in and to the
Pictures. In connection with the foregoing, CN and CN's sub-distributors and
licensees shall have the right (subject to all Third Party Restrictions) to use
the name, likeness, voice and biography of all persons rendering services in
connection with the Pictures; and the right to insert advertising (paid and
otherwise) into the Pictures, to have such advertising precede or follow the
Pictures and/or surrounding the Pictures in connection with the exploitation of
the Internet Rights.

     3. The term of this Agreement shall be five years ("Term") from the date
first written above, provided, however, that in no event shall CN have less than
six months to exploit any particular Picture from the date of the first AMW with
respect to such Picture, provided further that such AMW occurs within the Term.
Hence, if the first AMW to a Picture after the first four years and six months
of this agreement, the Term of this agreement with respect to such Picture shall
continue for a period of six months from the date of the first AMW with respect
to such Picture.

     4. CN is currently reviewing Trimark's library of Pictures and is selecting
only those titles to which Trimark controls "all rights" and/or "Video on
Demand" rights without an express reservation of Internet Rights or any part
thereof. In accordance with Paragraph 2 (ii), each such title shall constitute a
Picture hereunder. CN shall provide Trimark with a written list of such Pictures
when its review is complete. Trimark shall have the right to disapprove CN's
determinations based upon further review of the subject agreements.

     5. With respect to each Picture, the "Alternative Media Window" shall mean
the windows or periods of time where Internet Rights may be exploited. The AMW
shall occur during such time as such exploitation does not infringe upon the
Third Party Restrictions or other exclusive windows pertaining to other media as
set forth in paragraph 6, below. However, with respect to each Picture, Trimark
shall use good faith efforts to insure that the AMW is at least six months in
length. Trimark shall notify CN of the AMW and of existing Third Party
Restrictions in writing within three weeks of CN's request therefor with respect
to any particular Picture. CN agrees to limit its requests to no more than ten
(10) Pictures per week. Trimark shall notify CN on a continuing basis of the
AMW's and Third Party Restrictions and as such AMW's and Third Party
Restrictions may change from time to time based upon Third Party Agreements.
Trimark's providing AMWs and Third Party Restrictions shall not be construed as
an affirmation that Trimark controls Internet Rights.

     6. Notwithstanding anything herein to the contrary, the parties acknowledge
and agree that Trimark shall have the right to distribute each Picture via home
video, pay-per-view, pay television, basic cable television, network television
and

                                       3
<PAGE>

EXHIBIT 10.120 (CONTINUED)

syndicated television and to create reasonable exclusive windows for each of
these media in accordance with Trimark's customary industry practice (i.e.
windows in which Internet Rights may not be exploited) .

     D. TRIMARK PARTICIPATION

     1. The parties acknowledge and agree that CN shall have the right to
determine how the Pictures are distributed, subject to Trimark having been
granted such rights from its third party licensors (i.e., whether on a
pay-per-view basis [however, in the event that CN desires to distribute any
Picture on a pay-per-view basis during Trimark's pay-per-view window, CN shall
be required to obtain Trimark's consent therewith, it being acknowledged and
agreed that Trimark shall not be required to give such consent and, if Trimark
does so consent, Trimark shall have the right to determine the price for said
pay-per-view showing] subscription basis, advertiser/sponsorship, or otherwise).
In the event that CN elects to distribute the Pictures on a pay-per-view basis,
CN shall determine the pricing of the Picture. If as part of a subscription or
package basis, CN shall allocate part of said subscription or package fee to the
Pictures on a fair and reasonable basis. If CN elects to distribute the Pictures
on an advertising/sponsorship basis, CN shall have the right to sell, barter and
otherwise deal with third parties with respect to advertising that may be
inserted into the Picture and/or otherwise made available to users who view the
Pictures. As between CN and Trimark, CN shall have the right to determine and
sell such advertising, except that Trimark shall be entitled to one banner ad
for Trimark's own purposes (i.e., to promote Trimark and/or its products, not
for re-sale to a third party) on the CN web site in a prominent position on a
continuing basis. In this regard, Trimark shall provide CN with the content of
such banner ad from time to time. Said advertising may include "Picture Ads"
which shall be those advertisements that are either inserted into the Picture or
immediately precede or follow the Picture and are delivered to the viewer of the
Picture as part of the delivery of the Picture. In addition, said advertising
may include "Site Ads" which shall consist of all other types of advertising
(i.e., banner ads, streaming banner ads, interstitial advertisements, e-mail
advertisements, v-mail advertisements, etc.) that are delivered to the viewer of
the Picture and/or applicable web site.

     2. Trimark's Participation shall mean twenty-five percent (25%) of total
gross revenues generated by CN from the exploitation of, or in connection with,
the Pictures, including, but not limited to, from pay per view transactions and
any and all forms of advertising, including, but not limited to Picture Ads and
Site Ads. A monetary amount for all barter advertising shall be calculated on a
fair and reasonable basis. To the extent that an advertisement appears on a page
where more than one entity (including Trimark) are entitled to participate in
advertising revenue, a fair allocation of such revenue shall be made between
such parties.

     (i)      3. Notwithstanding the foregoing, CN shall not be required to pay
          the Trimark Participation on any gross

                                       4
<PAGE>

EXHIBIT 10.120 (CONTINUED)

          revenues generated in connection with the Pictures until such time as
          CN has generated an aggregate of twenty million dollars
          ($20,000,000.00) in gross revenues attributable to the Pictures (as to
          which the Trimark Participation is calculated per paragraph 2 above)
          from and after December 10, 2001.

     4. Except as set forth above, CN shall pay the Trimark Participation
directly to Trimark. Trimark shall be accorded customary reporting and audit
rights. Reporting and payments of monies due shall be on the same schedule as
reports are prepared for the Series A Holders, but no less than once per
quarter.

     5. The foregoing notwithstanding, Trimark shall immediately be entitled to
receive the Trimark Participation with respect to any gross revenues generated
after an Initial Public Offering for any portion of CN's shares.

     6. Notwithstanding anything to the contrary, as between CN and Trimark, in
the event that any third party payments (i.e., re-use fees, residuals,
supplemental payments, or any similar payments of any nature) (collectively
"Third Party Claims") are due as a result of CN's exploitation of any of the
Pictures, CN shall be solely responsible for such payments. CN shall immediately
pay Trimark the amount of such payments upon presentation of an invoice
therefor. Trimark shall use reasonable business judgment in determining whether
or not to oppose a claim for Third Party Payments taking into consideration the
current state of the law with respect to matters covered by this paragraph.

         F. DIGITIZATION

     CN shall be responsible for digitizing the Pictures at no cost to Trimark.

     G. MUTUAL LINKS

     The parties shall provide mutual links to one another's web sites.

     H. RIGHT OF FIRST NEGOTIATION

     For 15 business days, commencing 180 days prior to the expiration of the
Term, the Parties shall enter into negotiations with each other with respect to
the extension of this agreement. If the parties fail to reach an agreement, the
parties shall have no further obligations to each other except as set forth
herein.

                                       5
<PAGE>

EXHIBIT 10.120 (CONTINUED)

     In this regard, at the conclusion of the Term, CN shall deliver to Trimark
all materials in CN's possession pertaining to the Pictures, including the
digitized masters and CN shall have no further rights to the Pictures and/or any
materials pertaining thereto.

     I. SUB-DISTRIBUTION

     CN shall be entitled to engage in sub-distribution of the Pictures, it
being acknowledged and agreed that CN shall indemnify and defend Trimark against
any action arising against Trimark as a result of such sub-distribution.

     J. BANKRUPTCY

     Trimark shall have the right to terminate this agreement (to the extent
allowable under U.S. law) upon thirty (30) days prior written notice to CN in
the event CN (i) shall make an assignment for the benefit of creditors; (ii)
shall file any voluntary petition under the bankruptcy or insolvency laws of the
United States or any state; (iii) shall have a bankruptcy petition filed against
it with respect to which CN shall not file for dismissal thereof within sixty
(60) days or which shall not be dismissed within such time period; or (iv) shall
have or suffer a receiver or trustee to be appointed for CN's general business
or property with respect to which CN shall not file for dismissal of such
receiver or trustee within sixty (60) days, or which shall not be dismissed
within such time period. In the event that Trimark shall elect to terminate this
agreement as provided herein, all rights granted to CN herein shall cease and
terminate with effect the day immediately prior to the occurrence of such
default.

     K. INDEMNIFICATION

     1. CN will indemnify and hold harmless Trimark, it assigns, successors,
affiliates, parent, licensees, officer and employees, and agents, from and
against any and all liability, losses, claims, damages, expenses (including
reasonable outside attorney's fees) and judgments resulting or arising from a
breach of any obligation undertaken by CN in this Agreement or any exercise of
any rights in excess of the rights granted hereunder.

     2. Trimark will indemnify and hold harmless CN, it assigns, successors,
affiliates, parent, licensees, officer and employees, and agents, from and
against any and all liability, losses, claims, damages, expenses (including
reasonable outside attorney's fees) and judgments resulting or arising from a
breach of any obligation undertaken by Trimark in this Agreement.

     L. LOGOS AND MATERIALS

                                       6
<PAGE>

EXHIBIT 10.120 (CONTINUED)

     1. CN shall, at Trimark's request, ship to Trimark, in accordance with
Trimark's instructions, at Trimark's cost with respect to any duplication
expenses, copies of any materials in connection with the Pictures, including,
but not limited to, digitized versions of the Pictures and promotion,
advertising and marketing materials created by CN in connection with the
Pictures. All contracts and laboratory access letters (or the equivalents
thereof) entered into by CN for the Pictures with any laboratories (or the
equivalents thereof) shall specifically provide for Trimark's free and
unencumbered access to all such materials in perpetuity.

     2. CN has the obligation (and to contractually require sub-distributors) to
display, visibly and prominently, Trimark's trademark and logo in connection
with CN's exploitation of the Pictures. Trimark's logo and trademark shall never
be smaller nor less visible than any other trademark and logo (except CN's
and/or CN's sub-distributors and/or sub-licensees which are not motion picture
distribution competitors of Trimark) appearing in any display, screens, stills,
posters, jackets, or on-line equivalents thereof and any other marketing
material related to the Pictures. CN shall not remove Trimark's logos from the
Pictures.

     M. INFORMATION

     CN shall grant Trimark reasonable access to any and all information Trimark
requests in connection with the exploitation of the Pictures including, but not
limited to, the names, addresses and any other information of individuals and/or
entities viewing the Pictures, provided that CN shall not be required to provide
any such information in violation of its company policies with respect to the
privacy of its customers or associates. CN shall maintain a registration
database to facilitate any such access.

     N. DELIVERY

     As available, Trimark shall lend to CN a master (the "Original Master")
video tape, disc or film element of each Picture and shall provide to CN one (1)
VHS screening cassette of each Picture. CN shall have the obligation to create
one or more digitized versions of the Master (each of which shall be referred to
herein as a "Digital Master" and collectively as the "Digital Masters") for use
in transmitting the Pictures via the Internet Rights and, after having created
the Digital Master, shall return the Original Master to Trimark. The foregoing
notwithstanding, in the event that Trimark does not have, with respect to any
particular Picture, an Original Master in addition to its original protection
master of said Picture, then CN shall be required to have an Original Master
manufactured, at CN's sole cost and expense. As between CN and Trimark, CN shall
advance one hundred percent (100%) of the cost of creating and

                                       7

<PAGE>

EXHIBIT 10.120 (CONTINUED)

maintaining the Digital Masters. At the conclusion of the Term, CN shall return
the Digital Masters and any all other material created by CN in connection with
the Pictures to Trimark. Notwithstanding anything herein to the contrary, CN's
possession of the Digital Masters shall not transfer the copyright to the
Picture except as otherwise set forth herein.

     O. GENERAL

     1. Trimark's rights and remedies shall be cumulative, and none of them
shall be exclusive of any other allowed by law, except that Trimark shall not
seek injunctive relief except in the event of CN's exploitation in excess of the
rights granted hereunder. If Trimark defaults, CN shall not be entitled to
terminate or rescind this Deal Memo, nor to obtain injunctive relief with
respect to the exercise by Trimark of the rights granted hereunder; CN's sole
remedy shall be an action at law for damages.

     2. This Agreement is governed and controlled by the laws of the State of
California.

     3. Trimark is hereby granted a continuing security interest in to the
rights granted to CN to secure CN's obligation under the terms of this
Agreement.

4.   All items not addressed above shall be negotiated in good faith pursuant to
     the parties standard business practices.

AGREED TO AND ACCEPTED BY:

TRIMARK PICTURES, INC.              CINEMANOW, INC.

-------------------------           -------------------------
Signature                           Signature
-------------------------           -------------------------
Print Name                          Print Name
-------------------------           -------------------------
Title                               Title
-------------------------           -------------------------
Date                                Date

                                       8

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