Document:

Exhibit
10.3

 

Acknowledgement

 

This
Acknowledgement is provided by the undersigned GLOBIS ACQUISITION CORP. (hereinafter
Globis) pursuant to a Bond Subscription Deed dated December 31, 2021 (the Deed) made by FORAFRIC AGRO HOLDINGS LIMITED,
a private company limited by shares incorporated under the laws of Gibraltar with registered number 114436 and registered office at 57/63
Line Wall Road, Gibraltar (the Issuer), and LIGHTHOUSE CAPITAL LIMITED, a private company limited by shares incorporated
under the laws of Gibraltar with registered number 114433 and registered office at 57/63 Line Wall Road, Gibraltar, in favour of the
Subscribers from time to time as defined in the Deed. Capitalized terms used but not defined herein shall have the meanings
set forth in the Deed.

 

	1.	Globis
    hereby acknowledges to the Subscribers that, in the event that the Globis Shares issued pursuant to the Deed are not registered in
    connection with the consummation of the DE-SPAC Transaction, it has agreed that, within forty-five (45) calendar days after the DE-SPAC
    Transaction Date, it will file with the U.S. Securities & Exchange Commission (at the its sole cost and expense) a registration
    statement registering the resale of the Globis Shares issued pursuant to the Deed (the Registration Statement), and that it
    shall use its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after
    the filing thereof. 
	 	 
	2.	Globis
    has also agreed to cause such Registration Statement, or another shelf registration statement that includes the Globis Shares issued
    pursuant to the Deed, to remain effective until the earliest of (i) the second anniversary of the DE-SPAC Transaction Date, (ii)
    the date on which the Subscribers cease to hold any Globis Shares issued pursuant to the Deed, or (iii) on the first date on which
    the Subscribers are able to sell all of the Globis Shares issued to them pursuant to the Deed (or shares received in exchange therefor)
    under Rule 144 promulgated under the Securities Act of 1933, as amended, within 90 days without limitation as to the amount of such
    securities that may be sold, provided that each Subscriber fully, promptly, truthfully and accurately discloses its ownership of
    Globis Shares to Globis and also provides Globis with all other pertinent details of the Subscriber relating to the Globis Shares
    the Subscriber owns upon request to assist Globis in making the determination described above. 
	 	 
	3.	Globis
    may amend the Registration Statement so as to convert the Registration Statement to a Registration Statement on Form S-3 (or F-3,
    as applicable) at such time after Globis becomes eligible to use such Form S-3 (or F-3, as applicable). 
	 	 
	4.	Globis
    may suspend the use of any such registration statement if it determines that in order for such registration statement not to contain
    a material misstatement or omission, an amendment thereto would be needed to include information that would at that time not otherwise
    be required in a current, quarterly, or annual report under the Securities Exchange Act of 1934, as amended. 

 

    	 

     

    

 

	5.	The
    obligations of Globis to include the Globis Shares issued to each Subscriber pursuant to the Deed (or shares issued in exchange therefor)
    for resale in the Registration Statement are contingent upon the Subscriber furnishing in writing and fully, promptly, truthfully
    and accurately to Globis such information regarding the Subscriber, the securities of Globis held by the Subscriber and the intended
    method of disposition of such Globis Shares, which shall be limited to non-underwritten public offerings, as shall be reasonably
    requested by Globis to effect the registration of such Globis Shares, and the execution by each Subscriber of such documents in connection
    with such registration as Globis may reasonably request that are customary of a selling stockholder in similar situations.

 

	 	GLOBIS
    ACQUISITION CORP.
	 	 	 
	 	By:
    	/s/
    Paul Packer
	 	Name:	Paul
    Packer
	 	Title:
    	Chief
    Executive Officer and Chief Financial OfficerExhibit
10.4

 

GLOBIS
ACQUISITION CORP.

AMENDMENT
NO. 4 PROMISSORY NOTE

 

THIS
AMENDMENT NUMBER 4 OF NOTE (this “Amendment”) is entered into effective as of December 29, 2021, by Globis
Acquisition Corp., a Delaware corporation (“Maker”), and Globis SPAC LLC, a Delaware limited liability company
(“Globis SPAC”), or its designees.

 

RECITALS:

 

WHEREAS
that certain Promissory Note, dated January 11, 2021, in the original principal amount of $1,000,000.00 (the “Note”)
executed by Maker payable to Globis SPAC; and

 

WHEREAS,
the Note was amended by Amendment No. 2 on July 19, 2021 to increase the principal amount of the Note to $2,000,000; and

 

WHEREAS,
the Note was amended by Amendment No. 3 on October 13, 2021 to increase the principal amount of the Note to $3,000,000; and

 

WHEREAS
the parties desire to further amend the Note to increase the principal amount of the Note to $5,000,000, and each party acknowledges
the mutual benefits of so amending the Note;

 

NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

 

	 	1.	The
    Principal Amount of the Note is hereby increased to $5,000,000.

 

All
other terms of the Note, as amended, shall remain in full force and effect.

 

[Signature
Page Follows]

 

    	 

     

    

 

EXECUTED
as of the day and year first above written.

 

	 	GLOBIS
    ACQUISITION CORP.
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Paul Packer
	 	Name:	Paul
    Packer
	 	Title:	Chief
    Executive Officer and Chief Financial Officer
	 	 	 
	 	GLOBIS
    SPAC LLC
	 	a
    Delaware limited liability company
	 	 	 
	 	By:	/s/
    Paul Packer
	 	Name:	Paul
    Packer
	 	Title:	Manager

 

SIGNATURE
PAGE TO AMENDMENT NO. 4 TO PROMISSORY NOTEExhibit 10.1

       

      AMENDED AND RESTATED

       

      EMPLOYMENT AGREEMENT

       

      THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered
        into this 1st day of January, 2022 (the “Execution Date”) by and between Cinemark Holdings, Inc., a Delaware corporation (the “Company”), and Sean Gamble (“Executive”).

       

      W I T N E S S E T H:

       

      WHEREAS, the Company and Executive are parties to that certain Employment Agreement dated June 14, 2014, as amended by that certain First Amendment dated July 28, 2021 (the “Original Agreement”) governing Executive’s employment with the Company;

       

      WHEREAS, the Company and Executive wish to enter into this Agreement to govern Executive’s employment with the Company and replace and supersede the Original Agreement; and

       

      NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows:

       

      1.          Employment.

       

      1.1          Title and Duties.  The Company hereby employs Executive as  Chief Executive Officer of the Company. 
          Executive’s duties, responsibilities and authority shall be consistent with Executive’s position and titles and shall include serving in a similar capacity with certain of the Company’s Subsidiaries (as hereinafter defined) and such other duties,
          responsibilities and authority as may be assigned to Executive by the Board of Directors of the Company (the “Board”).  Executive shall report directly to the Board of Directors of the
          Company.

       

      1.2          Services and Exclusivity of Services.  The Company and Executive recognize that the services to be
          rendered by Executive are of such a nature as to be particularly rendered by Executive, encompass the individual ability, managerial skills and business experience of Executive and cannot be measured exclusively in terms of hours or services
          rendered in any particular period.  Executive shall devote Executive’s full business time and shall use Executive’s best efforts, energy and ability exclusively toward advancing the business, affairs and interests of the Company and its
          Subsidiaries, and matters related thereto.  Nothing in this Agreement shall preclude Executive from serving on boards of directors of up to one other company which is not competitive to the Company upon the Board’s approval not to be unreasonably
          withheld or participating on a board of or in trade organizations, charitable, community, school or religious activities that do not substantially interfere with his duties and responsibilities hereunder or conflict with the interests of the
          Company.

       

      1.3          Location of Office.  The Company shall make available to Executive an office and support services at the
          Company’s Service Center in Plano, Texas.  Executive’s main office shall be at such location.

       

      
        
          

      

      
      1.4          Subsidiaries; Person.   For purposes of this Agreement, “Subsidiary”
          or “Subsidiaries” means, as to any Person, any other Person (i) of which such Person or any other Subsidiary of such Person is a general partner, (ii) of which such Person, any one or
          more of its other Subsidiaries of such Person, or such Person and any one or more of its other Subsidiaries, directly or indirectly owns or controls securities or other equity interests representing more than fifty percent (50%) of the aggregate
          voting power, or (iii) of which such Person, any one or more of its other Subsidiaries of such Person, or such Person and any one or more its other Subsidiaries, possesses the right to elect more than fifty percent (50%) of the board of directors
          or Persons holding similar positions; and “Person” means any individual, corporation, partnership, limited liability company, firm, joint venture, association, joint‐stock company,
          trust, unincorporated organization, or other entity or group (as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended).

       

      2.          Term.  The term of Executive’s employment under this Agreement (the “Term”) shall commence on the Effective Date and shall continue for a period of three (3) years thereafter; provided, however, that at the end of each year of the Term, the Term shall be extended for an additional one‐year period
          unless Executive’s employment with the Company is terminated in accordance with Section 5.  References in this Agreement to the “balance of the Term” shall mean the period of time remaining on the scheduled Term after giving effect to the most
          recent extension of the Term occurring prior to any termination of the Term.

       

      3.          Compensation.

       

      3.1         Base Salary.  During the Term, the Company will pay to Executive a base salary at the rate of $825,000.00 per
          year, payable in accordance with the Company’s practices in effect from time to time (“Base Salary”).  Amounts payable shall be reduced by standard withholding and other authorized
          deductions.  Such Base Salary shall be reviewed during the Term for increase (but not decrease) in the sole discretion of the Board, or such individual, group or committee that the Board may select as its delegate, not less frequently than
          annually during the Term.  In conducting any such review, the Board or such delegate shall consider and take into account, among other things, any change in Executive’s responsibilities, performance of Executive, the compensation of other
          similarly situated executives of comparable companies and other pertinent factors.  Once increased, Executive’s Base Salary shall not be decreased except upon mutual agreement between the parties, and, as so increased, shall constitute Base
          Salary hereunder.

       

      3.2          Bonuses; Incentive, Savings and Retirement Plans; Welfare Benefit Plans.

       

      (a)          Executive shall be entitled to participate in all annual and long‐term bonuses and incentive, savings and retirement
          plans generally available to other similarly situated executive employees of the Company.  Executive, and Executive’s family as the case may be, shall be eligible to participate in and receive all benefits under welfare benefit plans, practices,
          programs and policies provided to the Chief Executive Officer, the President, other Executive Vice Presidents and other Senior Vice Presidents of the Company, including, without limitation, medical, prescription, dental, disability, salary
          continuance, employee life, group life, accidental death and travel accident insurance plans and programs.  The Company reserves the right to modify, suspend or discontinue any and all of its benefits referred to in this Section 3.2 at any time
          without recourse by Executive so long as such action is taken generally with respect to other executives and does not single out Executive.

      
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      (b)          In addition to his Base Salary, for each fiscal year ending during the Term, Executive will be entitled to participate
          in the bonus plan pursuant to the Cinemark Holdings, Inc. Amended and Restated Omnibus Plan (the “Omnibus Plan”), as such Omnibus Plan may be amended from time to time, or pursuant to
          the terms of any successor plan.  If the performance targets specified by the Compensation Committee of the Board are satisfied, Executive will receive an annual incentive cash bonus (the “Annual

            Bonus”) based upon the award opportunity parameters and performance targets established by the Compensation Committee of the Board pursuant to the terms of the Omnibus Plan.  The amount of the Annual Bonus award opportunity and the
          performance targets that must be satisfied to receive such Annual Bonus award will be established by the Compensation Committee, in its sole discretion, each fiscal year pursuant to the terms of the Omnibus Plan.  All such Annual Bonus award
          payments will be payable as specified pursuant to the terms of the Omnibus Plan and will be reduced by standard withholding and other authorized deductions.

       

      (c)         Equity Awards.  Executive will be eligible to participate in and receive grants of equity incentive awards (“Equity Awards”) under the Company’s Omnibus Plan, as such Omnibus Plan may be amended from time to time, or pursuant to the terms of any successor plan.  Equity Awards to Executive may be
          granted at such times and subject to such terms and conditions as the Omnibus Plan administrator shall determine.  Upon the consummation of a Sale of the Company, Executive’s Equity Awards will accelerate and become fully vested (assuming
          Executive is then, and has been continuously, employed by the Company or any of its Subsidiaries).  For purposes hereof, “Sale of the Company” is defined and has the meaning specified in the Omnibus Plan.

       

      3.3         Fringe Benefits.  Executive shall be entitled to receive fringe benefits consistent with Executive’s duties and
          position, and in accordance with the benefits provided to other similarly situated executive employees of the Company.  The Company reserves the right to modify, suspend or discontinue any and all of its fringe benefits referred to in this
          Section 3.3 at any time without recourse by Executive so long as such action is taken generally with respect to other similarly situated peer executives and does not single out Executive.

       

      3.4          Travel and Expenses.     Executive shall be entitled to reimbursement for expenses incurred in the
          furtherance of the business of the Company in accordance with the Company’s practices and procedures, as they may exist from time to time.  Executive may, in his discretion, elect to purchase, and be reimbursed for, business class tickets on any
          international flights for which scheduled flight time exceeds five hours.  Executive shall keep complete and accurate records of all expenditures such that Executive may substantiate and fully account for such expenses according to the Company’s
          practices and procedures.

       

      3.5        Vacation.    Executive shall be entitled to no less than twenty (20) days paid vacation and other absences from
          work in accordance with the Company’s vacation and absence policy in effect at the time of such vacations or absences which shall be taken at such times as are consistent with Executive’s responsibilities hereunder.

       

      3.6          Payment of Compensation and Benefits.  Executive acknowledges and agrees that all payments required to be paid to
          Executive and benefits to be provided to Executive may be paid or provided by the Company, its successor or any other Subsidiary of the Company.

       

      
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      4.          Confidential Information; Non-Competition; Non-Solicitation.

       

      4.1          General.  Executive acknowledges that during his employment and as a result of his relationship with the
          Company and its affiliates, Executive has obtained and will obtain knowledge of, and has been given and will be given access to, information, including, but not limited to, information regarding the business, operations, services, proposed
          services, business processes, advertising, marketing and promotional plans and materials, price lists, pricing policies, ticket sales, film licensing, purchasing, real estate acquisition and leasing, other financial information and other trade
          secrets, confidential information and proprietary material of the Company and its affiliates or designated as being confidential by the Company or its affiliates which are not generally known to non-Company personnel, including information and
          material originated, discovered or developed in whole or in part by Executive (collectively referred to herein as “Confidential Information”).  The term “Confidential Information” does
          not include any information which (i) at the time of disclosure is generally available to the public (other than as a result of a disclosure by Executive in breach of this Agreement), or (ii) was available to Executive on a non-confidential basis
          from a source (other than the Company or its Affiliates or their representatives) that is not and was not prohibited from disclosing such information to Executive by a contractual, legal or fiduciary obligation.  Executive agrees that during the
          Term and, to the fullest extent permitted by law, thereafter, Executive will, in a fiduciary capacity for the benefit of the Company and its affiliates, hold all Confidential Information strictly in confidence and will not directly or indirectly
          reveal, report, disclose, publish or transfer any of such Confidential Information to any Person, or utilize any of the Confidential Information for any purpose, except in furtherance of Executive’s employment under this Agreement and except to
          the extent that Executive may be required by law to disclose any Confidential Information.  Executive acknowledges that the Company and its affiliates are providing Executive additional Confidential Information that Executive was not given prior
          to execution of this Agreement, as further consideration to Executive for executing this Agreement, including the promises and covenants made by Executive in this Section 4.

      

        4.2          Non-Competition.  In
            further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges that during the course of his employment with the Company and its Subsidiaries, he has, and will, become familiar with the trade secrets of the
            Company and its Subsidiaries and with other Confidential Information concerning the Company and its Subsidiaries and that his services have been and shall continue to be of special, unique and extraordinary value to the Company and its
            Subsidiaries.  Therefore, Executive agrees that, during Executive’s employment hereunder and for one year after the date of termination of employment (the “Non-compete Period”), he
            shall not directly or indirectly own any interest in, manage, control, participate in, consult with, render services for, be employed in an executive, managerial or administrative capacity by, or in any manner engage in, any Competing
            Business.  For purposes hereof, “Competing Business” means any business that owns, operates or manages any movie theatre within a 25-mile radius (if such theatre is outside of a Major
            DMA) or a 10-mile radius (if such theatre is within a Major DMA) of any theatre (i) being operated by the Company or any of its Subsidiaries during Executive’s employment hereunder (but excluding any theatres which the Company and its
            Subsidiaries have ceased to operate as of the date of the termination of Executive’s employment hereunder), or (ii) under consideration by the Company or any of its Subsidiaries for opening as of the date of termination of employment; “Major DMA” means a Designated Market Area with a number of households in excess of 700,000; “Designated Market Area” means each of those certain geographic market areas for the United States designated as such by Nielsen Media Research, Inc. (“Nielsen”), as modified from time to time by Nielsen, whereby Nielsen divides the United States into non-overlapping geography for planning, buying and evaluating television audiences across various markets and whereby a
              county in the United States is exclusively assigned, on the basis of the television viewing habits of the people residing in the county, to one and only one Designated Market Area; and all theatres operated by the Company and its Subsidiaries
              in Canada shall be treated as being outside of a Major DMA.  Nothing herein shall prohibit  Executive from (i) being a passive owner of not more than
            five percent (5%) of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation, or (ii) during the one year period following the
            termination of Executive’s employment, owning, operating or investing in up to five (5) movie theatres, so long as each such theatre is outside of a 25-mile radius of the theatres being operated by the Company or any of its Subsidiaries or
            under consideration by the Company or any of its Subsidiaries for opening, in each case, as of the time of termination of Executive’s employment.  During the one-year period following the termination of Executive’s employment for any reason,
            Executive shall provide reasonable notice to the Company of his plans for acquiring ownership in, commencing operations of, or investing in, any movie theatre prior to any such event.  Notwithstanding the foregoing, Executive’s obligations
            under this Section 4.2 shall terminate and become null and void if Executive terminates his employment with Good Reason.

      

       

        

      
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      4.3          Proprietary Interest.  All inventions, designs, improvements, patents, copyrights and discoveries conceived by
          Executive during Executive’s employment by the Company or its affiliates that are useful in or directly or indirectly related to the business of the Company and its affiliates or to any experimental work carried on by the Company or its
          affiliates, shall be the property of the Company and its affiliates.  Executive will promptly and fully disclose to the Company or its affiliates all such inventions, designs, improvements, patents, copyrights and discoveries (whether developed
          individually or with other persons) and shall take all steps necessary and reasonably required to assure the Company’s or such affiliate’s ownership thereof and to assist the Company and its affiliates in protecting or defending the Company’s or
          such affiliate’s proprietary rights therein.

       

      4.4         Return of Materials.  Executive expressly acknowledges that all data, books, records and other Confidential
          Information of the Company and its affiliates obtained in connection with the Company’s business is the exclusive property of the Company or its affiliates and that upon the termination of Executive’s employment by the Company or its affiliates,
          Executive will immediately surrender and return to the Company or its affiliates all such items and all other property belonging to the Company or its affiliates then in the possession of Executive, and Executive shall not make or retain any
          copies thereof.

       

      4.5         Property of the Company.  Executive acknowledges that from time to time in the course of providing services
          pursuant to this Agreement, Executive shall have the opportunity to inspect and use certain property, both tangible and intangible, of the Company and its affiliates and Executive hereby agrees that such property shall remain the exclusive
          property of the Company and its affiliates. Executive shall have no right or proprietary interest in such property, whether tangible or intangible, including, without limitation, Executive’s customer and supplier lists, contract forms, books of
          account, computer programs and similar property.

       

      
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      4.6        Reasonable in Scope and Duration; Consideration.  Executive agrees and acknowledges that the restrictions
          contained in this Section 4 are reasonable in scope and duration and are necessary to protect the business interests and Confidential Information of the Company and its affiliates after the Effective Date of this Agreement, and Executive further
          agrees and acknowledges that he has reviewed the provisions of this Agreement with his legal counsel.  Executive acknowledges and agrees that Executive will receive substantial, valuable consideration from the Company for the covenants contained
          in this Section 4, including without limitation, compensation and other benefits.

       

      5.          Termination.

       

      5.1        Termination Prior to Expiration of Term.  Notwithstanding anything to the contrary contained in Section 2,
          Executive’s employment may be terminated prior to the expiration of the Term only as provided in this Section 5.

       

      5.2          Death or Disability.

       

      (a)        The  Company may terminate Executive’s employment hereunder due to death or Disability (as defined below).  If Executive’s
          employment hereunder is terminated as a result of death or Disability, Executive (or Executive’s estate or personal representative in the event of death) shall be entitled to receive (i) all Base Salary due to Executive through the date of
          termination, (ii) the actual bonus, if any, he would have received in respect of the fiscal year in which his termination occurs, prorated by a fraction, the numerator of which is the
          number of days in such fiscal year prior to the date of Executive’s termination and the denominator of which is 365, payable at the same time as any Annual Bonus payments are made to other similarly situated active executives pursuant to the
          terms of the Omnibus Plan and subject to satisfaction of the performance targets for such fiscal year, (iii) any previously vested Equity Awards and benefits, such as retirement benefits and vacation pay, in accordance with the terms of the plan
          or agreement pursuant to which such Equity Awards or benefits were granted to Executive (items (i) through (iii) above collectively referred to as “Accrued Employment Entitlements”),
          (iv) a lump sum payment equal to twelve (12) months of Executive’s full Base Salary, which shall be payable as soon as practicable following the date of termination but not later than March 15 of the first calendar year following the year of such
          termination; provided, that in the case of Disability such payment shall be offset by the amount of Base Salary paid by the Company to Executive or Executive’s personal representative from the date on which Executive was first unable
          substantially to perform Executive’s duties through the date of such termination, and (v) any benefits payable to Executive or Executive’s beneficiaries, as applicable, in accordance with the terms of the applicable benefit plan.  At the
          Company’s expense, Executive and/or Executive’s dependents shall be entitled to continue to participate in the Company’s group health insurance programs on the same terms as similarly situated actively-employed executives for a period of twelve
          (12) months from the date of such termination.  Executive and/or Executive’s dependents shall thereafter be entitled to any continuation of such benefits provided under such insurance programs or by applicable law.  Following the death or
          Disability of Executive, Executive’s participation under any Equity Award or other incentive compensation plan (other than Annual Bonuses included in the definition of Accrued Employment Entitlements) shall be governed by the terms of such plans.

       

      
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      (b)          “Disability” shall mean if, by reason of any medically
          determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, Executive is either (i) unable to engage in any substantial gainful
          activity; or (ii) receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering Company employees.  Executive’s Disability shall be determined by the Company, in good faith, based
          upon information supplied by Executive and the physician mutually agreed upon by the Company and Executive.  Executive agrees to submit to physical exams and diagnostic tests reasonably recommended by such physician.

       

      5.3          Termination by the Company for Cause or by Executive because of a Voluntary Termination.

       

      (a)        Executive’s employment hereunder may be terminated by the Company for Cause (as hereinafter defined) or by Executive under
          a Voluntary Termination (as hereinafter defined).  If Executive’s employment hereunder is terminated under this Section 5.3, Executive shall be entitled to receive all Base Salary due to Executive through the date of termination. 
          Furthermore, all previously vested rights of Executive under an Equity Award or similar incentive compensation plan or program shall be treated in accordance with the terms of such plan or program.  Except as specifically set forth in this Section

            5.3, the Company shall have no further obligations to Executive following a termination for Cause, or a Voluntary Termination.

       

      (b)        In the event Executive terminates his employment by Voluntary Termination at any time after the tenth anniversary of the
          Execution Date, any outstanding stock options granted to Executive shall be vested and/or exercisable for the period through the date of such termination of employment, and shall remain exercisable, in accordance with the terms contained in the
          plan and the agreement pursuant to which such option awards were granted.  Any outstanding Equity Award (other than stock options) with time-based vesting provisions granted to Executive shall be fully vested.  Any Equity Awards with performance
          based vesting provisions shall remain outstanding through the remainder of the applicable performance period (without regard to any continued employment requirement) and if or to the extent the performance provisions are attained shall become
          fully vested without regard to any continued employment requirement.

       

      (c)          “Cause” shall mean (i) subject to clause (ii) below, a
          felony which results in a conviction, a guilty plea or a plea of nolo contendere, (ii) engaging in conduct involving moral turpitude that causes the Company and its affiliates material and demonstrable public disrepute or material and
          demonstrable economic harm; (iii) a willful material breach of this Agreement by Executive and/or Executive’s gross neglect of Executive’s duties hereunder which is not cured to the Board’s reasonable satisfaction within fifteen (15) days after
          notice thereof is given to Executive by the Board; or (iv) the intentional wrongful damage to or misappropriation or conversion of material property of the Company or its affiliates.  No act or failure to act by the Executive shall be deemed
          “willful” or “intentional” if done, or omitted to be done, by him in good faith and with the reasonable belief that his action or omission was in the best interest of the Company.  Notwithstanding the foregoing, the Company shall not be entitled
          to terminate Executive for Cause under clause (ii) above, unless (a) the Board shall have made a good faith investigation and can produce demonstrable evidence of the existence of the commission of the fraud, embezzlement or theft which would
          serve as the basis of Executive’s termination for Cause under clause (ii) above, during which investigation the Company may place Executive on a paid administrative leave of absence and (b) no less than 2/3 of the members of the Board (excluding
          Executive if Executive is then a member of the Board) shall have made a good faith determination that the Company is entitled to terminate Executive for Cause under clause (ii) above.

       

      
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      (d)          “Voluntary Termination” shall mean a termination of
          employment by Executive on Executive’s own initiative other than (i) a termination due to Disability or (ii) a termination for Good Reason.

       

      5.4        Termination by the Company without Cause or by Executive for Good Reason.  The Company may terminate Executive’s
          employment hereunder without Cause, and Executive shall be permitted to terminate Executive’s employment hereunder for Good Reason (as hereinafter defined).  If the Company terminates Executive’s employment hereunder without Cause, other than due
          to death or Disability, or if Executive effects a termination for Good Reason, Executive shall be entitled to receive the payments and benefits set forth in this Section 5.4.

       

      (a)         If  Executive’s employment hereunder is terminated by the Company without Cause, so long as Executive has not breached
          any of the terms contained in Section 4, Executive shall be entitled to each of the following:

       

      (i)          Executive’s Accrued Employment Entitlements;

       

      (ii)        two times Executive’s annual Base Salary in effect as of the date of such termination, payable in
          accordance with the Company’s normal payroll practices for a period of twenty-four (24) months following any such termination; provided, however, that if Executive is, as of the date of such termination, a “specified employee” within the meaning
          of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), any amount that is (1) not treated as a short-term deferral within the meaning of Treas. Regs.
          §1.409A-1(b)(4), and (2) exceeds the separation pay limit under Treas. Regs. §1.409A-1(b)(9)(iii)(A) (two times the lesser of (a) the sum of Executive’s annualized compensation based on Executive’s annual Base Salary for the calendar year
          preceding the calendar year in which termination occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive’s employment had not been terminated), or (b) the maximum amount that may be taken into
          account under a qualified plan pursuant to Code Section 401(a)(17) for the year in which such termination occurs), will not be paid before the date that is six (6) months after such date of termination, or if earlier, the date of Executive’s
          death.  Any payments or benefits to which Executive would otherwise be entitled during such non-payment period will be accumulated and paid or otherwise provided to Executive on the first day of the seventh month following such date of
          termination, or if earlier, within 30 days of Executive’s death to his surviving spouse (or to his estate if Executive’s spouse does not survive him).  For purposes of this Section 5.4(a)(ii) and Section 5.4(b), any amount that is paid as a
          short-term deferral within the meaning of Treas. Regs. §1.409A-1(b)(4), or within the separation pay limit under Treas. Regs. §1.409A-1(b)(9)(iii)(A) shall be treated as a separate payment, provided the aggregate of the separate payments under
          this Section 5.4(a)(ii) shall not exceed an amount equal to two times the Executive’s annual Base Salary in effect as of the date of such termination or for a period in excess of twenty-four (24) months following any such termination.

       

      
        - 8 -

        
          

      

      (iii)       an amount equal to the Annual Bonus target for Executive for any fiscal year in which such termination
          occurs (determined without regard to any performance goals), payable in a lump sum within thirty (30) days following such termination of employment; provided further, that if such termination or resignation occurs within thirty (30) days prior to
          the calendar year end, the payment, without interest, of the amount paid for a termination by the Company without Cause shall be paid no earlier than January 1 of the next year; and

       

      (iv)       Executive and Executive’s dependents shall be entitled to continue to participate in the Company’s
          group health insurance programs on the same terms as similarly situated active employees for a period of twenty-four months from the termination date.  Following the expiration of such period, Executive and/or Executive’s dependents shall be
          entitled to any continuation of benefits as are provided under such insurance programs by the Company or as are required to be provided in accordance with applicable law.

       

      (b)        If Executive’s employment hereunder is terminated by the Executive for Good Reason, so long as Executive has not breached
          any of the terms contained in Section 4, Executive shall be entitled to the benefits provided in Section 5.4(a), except the severance benefit specified in Section 5.4(a)(ii) (the “Regular
            Severance Benefit”) shall be payable in a lump sum (the “Permitted Lump Sum Benefit”) to the extent it is (1) treated as a short-term deferral within the meaning of Treas. Regs.
          §1.409A-1(b)(4), or (2) does not exceed the separation pay limit under Treas. Regs. §1.409A-1(b)(9)(iii)(A) (two times the lesser of (a) the sum of Executive’s annualized compensation based on Executive’s annual Base Salary for the calendar year
          preceding the calendar year in which termination occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive’s employment had not been terminated), or (b) the maximum amount that may be taken into
          account under a qualified plan pursuant to Code Section 401(a)(17) for the year in which such termination occurs), as described in Section 5.4(a)(ii).  The Permitted Lump Sum Benefit shall be payable within thirty (30) days following such
          termination of employment; provided further, that if such termination or resignation occurs within thirty (30) days prior to the calendar year end, the payment, without interest, of the Permitted Lump Sum Benefit paid for a termination by
          Executive for Good Reason shall be paid no earlier than January 1 of the next year and any remaining amount shall be payable in installments in accordance with the Regular Severance Benefit provisions of Section 5.4(a)(ii).

       

      (c)       Any outstanding stock options granted to Executive shall be vested and/or exercisable for the period through the date of
          such termination of employment, and shall remain exercisable, in accordance with the terms contained in the plan and the agreement pursuant to which such option awards were granted.  Any outstanding Equity Award (other than stock options) with
          time based vesting provisions granted to Executive shall be vested on a prorata basis based on the percentage determined by dividing (i) the number of days from and including the grant date of such Equity Award through the termination date of
          Executive’s employment, by (ii) the number of days from the grant date of such Equity Award to the full vesting date of such Equity Awards.  Any Equity Awards with performance based vesting provisions shall remain outstanding through the
          remainder of the applicable performance period (without regard to any continued employment requirement) and if or to the extent the performance provisions are attained shall become vested without regard to any continued employment requirement on
          a prorata basis based upon the percentage determined by dividing (i) the number of days from and including the grant date of such Equity Award through the termination date of Executive’s employment, by (ii) the number of days from the grant date
          to the end of the applicable performance period without regard to any continued employment requirement.

       

        

      
        - 9 -

        
          

      

      (d)          For purposes of the calculation of Executive’s benefits under any supplemental defined benefit plan in which Executive
          participates, Executive shall be credited with one additional year of service as a result of termination pursuant to this Section 5.4.

       

      (e)          “Good Reason” means and shall be deemed to exist if, without
          the prior written consent of Executive, (i) Executive suffers a significant reduction in duties, responsibilities or effective authority associated with Executive’s titles and positions as set forth and described in this Agreement or is assigned
          any duties or responsibilities inconsistent in any material respect therewith (other than in connection with a termination for Cause); (ii) the Company fails to pay Executive any amounts or provide any benefits required to be paid or provided
          under this Agreement or is otherwise in material breach of this Agreement; (iii) the Company adversely changes Executive’s titles or reporting requirements; (iv) Executive’s compensation opportunity (other than Base Salary, which is governed by Section

            3.1) or benefits provided for hereunder are materially decreased; or (v) the Company transfers Executive's primary workplace from the Company’s headquarters in Dallas/Plano, Texas area.  No termination by Executive shall be for “Good
          Reason” unless written notice of such termination setting forth in particular the event(s) constituting Good Reason is delivered to the Company within thirty (30) days following the date on which the event constituting Good Reason occurs and the
          Company fails to cure or remedy the event(s) identified in the notice within thirty (30) days after receipt of such notice.

       

      5.5        Termination During a Change of Control.          Notwithstanding Section 5.4, if within one year after a Change of
          Control (as defined below), executive’s employment is terminated by the Company (other than for Disability, death or Cause) or Executive resigns for Good Reason, Executive shall receive the payments and benefits set forth in this Section 5.5:

       

      (a)          Executive’s Accrued Employment Entitlements; plus

       

      (b)        An amount (the “Section 5.5 Termination Amount”) in addition
          to any other cash compensation beyond that provided in (a) above, which amount shall be equal to the sum of two times Executive’s annual Base Salary; plus an amount equal to one and one half times the Annual Bonus target for Executive for any
          fiscal year in which such termination occurs (determined without regard to any performance goals), payable in a lump sum within thirty (30) days following such termination of employment provided further, that if such termination or resignation
          occurs within thirty (30) days prior to the calendar year end, the payment, without interest, the amount shall be paid no earlier than January 1 of the next year; and

       

        

      
        - 10 -

        
          

      

      (c)        Executive and Executive’s dependents shall be entitled to continue to participate in the Company’s, a successor’s or
          acquiror’s group health insurance programs on the same terms as similarly situated active employees for a period of thirty (30) months from the termination date. Following the expiration of such thirty (30) month period, Executive and/or
          Executive’s dependents shall be entitled to any continuation of benefits as are provided under such insurance programs by the Company or as are required to be provided in accordance with applicable law.

       

      (d)         Any outstanding Equity Awards granted to Executive shall be fully vested and/or exercisable as of the date of such
          termination of employment and shall remain exercisable, in each case, in accordance with the terms contained in the plan and the agreement pursuant to which such compensation awards were granted, but in no event shall Executive’s rights under any
          such Equity Awards be less favorable than the terms applicable to a Sale of the Company or other change in control contained in the plan and the agreement pursuant to which such Equity Awards were granted.

       

      (e)          For purposes of the calculation of Executive’s benefits under any supplemental defined benefit plan in which Executive
          participates, Executive shall be credited with one additional year of service as a result of termination pursuant to this Section 5.5.

       

      (f)          A “Change of Control” shall be deemed to have occurred upon
          (i) the date that any individual, entity or group (within the meaning both of Section 1.409A-3(i)(5)(vi)(D) of the Treasury Regulations and of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such individual, entity or group), beneficial ownership (within the
          meaning of Rule 13d-3 promulgated under the Exchange Act) of thirty percent (30%) or more of the total combined voting power of the voting securities of the Company entitled to vote generally in the election of directors (“Voting Power”), (ii) a majority of the members of the Company’s Board of Directors shall not be Continuing Directors (as defined below) or (iii) the sale of all or substantially all of the
          Company’s assets.

       

      (g)        “Continuing Director” shall mean with respect to any 12-month period, individuals that at the beginning of such period
          constituted the Board of Directors of the Company (together with any new directors whose election by such board or whose nomination for election by the stockholders of the Company was approved by a vote of at least a majority of the directors of
          the Company then still in office who were either directors at the beginning of such period or whose election or nomination was previously so approved).

       

      5.6         General Release.  Except where the termination is the result of Executive’s death and notwithstanding the
          foregoing, no payment shall be made by the Company to Executive under this Section 5 unless otherwise required by state, local or federal law, until Executive executes a general release of all claims in a form reasonably approved by the Company. 
          The terms of any such general release will not, without the written consent of the Executive, terminate any continuing payment or benefit obligations hereunder by the Company to the Executive.  Notwithstanding the foregoing, if the Company fails
          to deliver a form of general release to the Executive by the forty-fifth (45th) day following the date of termination, the Executive will be deemed to have satisfied the condition of this Section 5.6(a) without being required to execute a general
          release.

       

        

      
        - 11 -

        
          

      

      5.7        Office Support.  Upon the termination of Executive’s employment hereunder for any reason except for Cause, the
          Company shall make available to Executive, at the Company’s expense, an office and support services, (including, without limitation, telephone, telefax and internet access), at the Company’s election, either at the Company’s main office or at
          another suitable office space in the Plano area, for a period not to exceed three (3) months following the date of such termination.

       

      6.          Arbitration.

       

      6.1         General.    Any dispute, controversy or claim arising out of or relating to this Agreement, the breach hereof or
          the coverage or enforceability of this arbitration provision shall be settled by arbitration in Dallas, Texas (or such other location as the Company and Executive may mutually agree), conducted in accordance with the Commercial Arbitration Rules
          of the American Arbitration Association, as such rules are in effect in Dallas/Fort Worth, Texas on the date of delivery of demand for arbitration.  The arbitration of any such issue, including the determination of the amount of any damages
          suffered by either party hereto by reason of the acts or omissions of the other, shall be to the exclusion of any court of law.  Notwithstanding the foregoing, either party hereto may seek any equitable remedy in a court to enforce the provisions
          of this Agreement, including but not limited to an action for injunctive relief or attachment, without waiving the right to arbitration.

       

      6.2          Procedure.

       

      (a)          Either party may demand such arbitration by giving notice of that demand to the other party.  The party demanding such
          arbitration is referred to herein as the “Demanding Party,” and the party adverse to the Demanding Party is referred to herein as the “Responding Party.”  The notice shall state (x) the matter in controversy, and (y) the name of the arbitrator selected by the party giving the notice.

       

      (b)         Not more than fifteen (15) days after such notice is given, the Responding Party shall give notice to the
          Demanding Party of the name of the arbitrator selected by the Responding Party.  If the Responding Party shall fail to timely give such notice, the arbitrator that the Responding Party was entitled to select shall be named by the Arbitration
          Committee of the American Arbitration Association. Not more than fifteen (15) days after the second arbitrator is so named; the two arbitrators shall select a third arbitrator.  If the two arbitrators shall fail to timely select a third
          arbitrator, the third arbitrator shall be named by the Arbitration Committee of the American Arbitration Association.

       

      (c)         The dispute shall be arbitrated at a hearing that shall be concluded within ten days immediately following the date the
          dispute is submitted to arbitration unless a majority of the arbitrators shall elect to extend the period of arbitration.  Any award made by a majority of the arbitrators (x) shall be made within ten days following the conclusion of the
          arbitration hearing, (y) shall be conclusive and binding on the parties, and (z) may be made the subject of a judgment of any court having jurisdiction.

       

      (d)         Any amount to which Executive is entitled under this Agreement (including any disputed amount) which is not paid when due
          shall bear interest from the date due but not paid at a rate equal to the lesser of eight percent (8%) per annum and the maximum lawful rate.

       

        

      
        - 12 -

        
          

      

      6.3          Costs and Expenses.  All administrative and arbitration fees, costs and expenses shall be borne by the Company.

       

      7.           Indemnification.  To the fullest extent permitted by the indemnification provisions of the certificate of
          incorporation and bylaws of the Company in effect as of the date of this Agreement and the indemnification provisions of the corporation statute of the jurisdiction of the Company’s incorporation in effect from time to time (collectively, the “Indemnification Provisions”), and in each case subject to the conditions thereof, the Company shall (i) indemnify Executive, as a director and/or officer of the Company or a subsidiary of
          the company or a trustee or fiduciary of an employee benefit plan of the Company or a subsidiary of the Company, or, if Executive shall be serving in such capacity at the Company’s written request, as a director or officer of any other
          corporation (other than a subsidiary of the company) or as a trustee or fiduciary of an employee benefit plan not sponsored by the Company or a subsidiary of the Company, against all liabilities and reasonable expenses that may be incurred by
          Executive in any threatened, pending, or completed action, suit or proceeding, whether civil, criminal or administrative, or investigative and whether formal or informal (collectively, “Claims”), because Executive is or was a director or officer
          of the Company, a director or officer of such other corporation or a trustee or fiduciary of such employee benefit plan, and against which Executive may be indemnified by the Company, and (ii) pay for or reimburse within twenty (20) days after
          request by Executive of the reasonable expenses incurred from time to time by Executive in the defense of any proceeding to which Executive is a party because Executive is or was a director or officer of the Company, a director or officer of such
          other corporation or a trustee or fiduciary of such employee benefit plan.  The Company shall have the right to defend Executive against a Claim with counsel of its choice reasonably acceptable to Executive so long as (i) the Claim involves
          primarily money damages, (ii) the Company conducts the defense of the Claim actively and diligently and (iii) there are no conflicts of such counsel representing both the Company and the Executive.  So long as the Company is conducting the
          defense of the Claim, (i) Executive may retain separate co-counsel at his sole cost and expense and participate in the defense of the Claim, (ii) the Company shall not consent to the entry of any judgment or enter into any settlement with respect
          to the Claim, nor take any voluntary action prejudicial to the determination of the Claim, without the prior written consent of the Executive, such consent not to be unreasonably withheld and (iii) the Company will not consent to the entry of any
          judgment or enter into any settlement with respect to the Claim unless a written agreement from the party asserting the Claim is obtained releasing the Executive from all liability thereunder. The rights of Executive under the Indemnification
          Provisions and this Section 7 shall survive the termination of the employment of Executive by the Company.

       

      8.         Assignment.  This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of
          Executive and the assigns and successors of the Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise subject to hypothecation by Executive (except by will or by operation of the laws of
          intestate succession) or by the Company, except that the Company may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially all of the stock, assets or businesses of the Company, if such
          successor expressly agrees to assume the obligations of the Company hereunder.

       

      
        - 13 -

        
          

      

      9.         Remedies.  Executive acknowledges that the services Executive is to render under this Agreement are of a unique and
          special nature, the loss of which cannot reasonably or adequately be compensated for in monetary damages, and that irreparable injury and damage will result to the Company and its Subsidiaries in the event of any default or breach of this
          Agreement by Executive.  The parties agree and acknowledge that the breach by Executive of any of the terms of this Agreement will cause irreparable damage to the Company and its affiliates, and upon any such breach, the Company shall be entitled
          to injunctive relief, specific performance, or other equitable relief (without posting a bond or other security); provided, however, that this shall in no way limit any other remedies which the Company and its affiliates may have (including,
          without limitations, the right to seek monetary damages).

       

      10.         Survival.  The provisions of Sections 4 through 20 shall survive the expiration or earlier termination of the
          Term.

       

      11.         Taxes.

       

      11.1          All payments to Executive under this Agreement shall be reduced by all applicable withholding required by
          Federal, state or local law.

       

      11.2          Section 409A.  This Agreement is intended to comply with Internal Revenue Code Section 409A ("Section 409A") or
          an exemption thereunder and shall be construed and administered in accordance with Section 409A.  Notwithstanding any other provision of this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that
          complies with Section 409A or an applicable exemption.  Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded
          from Section 409A to the maximum extent possible.  For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment.  Any payments to be made under this Agreement upon a termination of
          employment shall only be made upon a "separation from service" under Section 409A.  Payments and reimbursements of expenses shall be made promptly and in no event later than the last day of the calendar year following the calendar year in which
          such expense was incurred, and the amount of any expense eligible for payment or reimbursement in one year shall not affect the amount eligible for payment or reimbursement in any other year.

       

      11.3          Section 280G.

       

      (a)          To the extent that any payment or distribution to or for the benefit of Executive pursuant to the terms of this
          Agreement or any other plan, arrangement or agreement with the Company, any affiliate, any person whose actions result in a change of ownership or effective control covered by Section 280G(b)(2) of the Code or any person affiliated with the
          Company or such person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the "Payments") would be subject to the excise tax
          (the "Excise Tax") imposed by Section 4999 of the Code, then the Company shall pay or provide to Executive the greatest of the following, whichever gives Executive the highest net
          after-tax amount (after taking into account federal, state, local and social security taxes at the maximum marginal rates): (1) the Payments, or (2) one dollar less than the amount of the Payments that would subject Executive to the Excise Tax
          (the "Safe Harbor Cap").  If the Payments are so reduced, the Company shall reduce or eliminate the Payments in the following order:  (A) equity-based payments that may not be valued
          under Treas. Reg. Section 1.280G-1, Q&A-24(c) (“24(c)”), (B) cash-based payments that many not be valued under 24(c), (C) equity-based payments that may be valued under 24(c), (D)
          cash payments that may be valued under 24(c) and (E) other types of benefits.  With respect to each category of the foregoing, such reduction shall occur first with respect to amounts that are not “deferred compensation” within the meaning of
          Section 409A of the Code and next with respect to payments that are deferred compensation, in each case, beginning with payments or benefits that are to be paid the farthest in time from the Qualified Firm’s (as defined below) determination.

       

      
        - 14 -

        
          

      

      (b)          All determinations required to be made under this Section 11.3, including whether and when the Safe Harbor Cap is
          required and the amount of the reduction of the Payments pursuant to the Safe Harbor Cap and the assumptions to be utilized in arriving at such determination, shall be made by a certified public accounting firm or executive compensation
          consulting firm, in either case of national standing (a "Qualified Firm") selected by the Company that is reasonably acceptable to Executive.  All fees and expenses of the Qualified Firm
          shall be borne solely by the Company.  Any determination by the Qualified Firm shall be binding upon the Company and Executive.  Executive shall cooperate, to the extent her reasonable out-of-pocket expenses are reimbursed by the Company, with
          any reasonable requests by the Company in connection with any contests or disputes with the Internal Revenue Service in connection with the Excise Tax.

       

      12.         No Obligation to Mitigate; No Rights of Offset.

       

      12.1       No Obligation to Mitigate.  Executive shall not be required to mitigate the amount of any payment or other benefit
          required to be paid to Executive pursuant to this Agreement, whether by seeking other employment or otherwise, nor shall the amount of any such payment or other benefit be reduced on account of any compensation earned by Executive as a result of
          employment by another person; provided that Executive and Executive’s dependents shall not be entitled to continue to participate in the group health insurance programs of the Company and its Subsidiaries if Executive is covered by the insurance
          program of another employer.

       

      12.2        No Rights of Offset.  The Company’s obligation to make the payments provided for in this Agreement and otherwise
          to perform its obligations hereunder shall not be affected by any set‐off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against Executive or others.

       

      13.       Notices.  Any notice or other communications relating to this Agreement shall be in writing and delivered personally
          or mailed by certified mail, return receipt requested, or sent by overnight courier, to the party concerned at the address set forth below:

       

      
        	
                If to Company:

                  

              	
                3900 Dallas Parkway

                
                  Plano, Texas  75093

                  Attn:  General Counsel

                   

              

      

       

      

      	If to Executive:	
              At Executive’s residence address as maintained by the Company in the regular course of its business for payroll purposes.

            

       

      
        - 15 -

        
          

      

      Either party may change the address for the giving of notices at any time by written notice given to the other party under the provisions of this Section

          13.  If notice is given by personal delivery or overnight courier, said notice shall be conclusively deemed given at the time of such delivery or upon receipt of such couriered notice.  If notice is given by mail, such notice shall be
        conclusively deemed given upon deposit thereof in the United States mail.

       

      14.          Counterparts.  This Agreement may be executed in counterparts, each of which shall be an original, but all of
          which together shall constitute one agreement.

       

      15.          Construction.  This Agreement shall be governed under and construed in accordance with the laws of the State of
          Texas, without regard to the principles of conflicts of laws.  The paragraph headings and captions contained herein are for reference purposes and convenience only and shall not in any way affect the meaning or interpretation of this Agreement. 
          It is intended by the parties that this Agreement be interpreted in accordance with its fair and simple meaning, not for or against either party, and neither party shall be deemed to be the drafter of this Agreement.

       

      16.         Severability.  The parties agree that if any provision of this Agreement as applied to any party or to any
          circumstance is adjudged by a court or arbitrator to be invalid or unenforceable, the same will in no way affect any other circumstance or the validity or enforceability of this Agreement.  Without limiting the generality of the foregoing, in
          particular, if any provision in Section 4, or any part thereof, is held to be unenforceable because of the duration of such provision or the area covered thereby, the parties agree that the court or arbitrator making such determination shall have
          the power to reduce the duration and/or area of such provision, and/or to delete specific words or phrases, and in its reduced form, such provision shall then be enforceable and shall be enforced.  In addition, in the event of a breach or
          violation by Executive of Section 4, the Non-compete Period and the Non-solicitation Period shall be automatically extended respectively by the amount of time between the initial occurrence of the breach or violation and when such breach or
          violation has been duly cured.

       

      17.        Binding Effect.  Subject to Section 8 hereof, the rights and obligations of the parties under this Agreement shall
          be binding upon and inure to the benefit of the permitted successors, assigns, heirs, administrators, executors and personal representatives of the parties.

       

      18.        Entire Agreement.  This Agreement contains the entire understanding between the parties hereto and supersedes in
          all respects any prior or other agreement or understanding between the Company or any affiliate of the Company and Executive including the Original Agreement.

       

      
        - 16 -

        
          

      

      19.      Executive’s Cooperation.   During the Term and for five (5) years thereafter, Executive shall cooperate with
          the Company and its Subsidiaries in any internal investigation, any administrative, regulatory or judicial proceeding or investigation or any material dispute with a third party, in each case as reasonably requested by the Company (including,
          without limitation, Executive’s being reasonably available to the Company upon reasonable notice for interviews and factual investigations, appearing at the Company’s request to give testimony without requiring service of subpoena or other legal
          process, volunteering to the Company all pertinent information and turning over to the Company all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s
          other activities and commitments), in each case limited to the extent that such cooperation (a) becomes unduly burdensome for Executive (including in terms of the time commitments required by Executive in connection with such cooperation), (b) in
          the event that such cooperation is required after the Term, unreasonably interferes with Executive’s duties under his then current employment, (c) causes Executive to breach in any material respect any material agreement by which he is bound, or
          (d) is limited to the extent Executive is advised by legal counsel that such cooperation would not be in Executive’s best interests.  In the event that the Company requires Executive’s cooperation in accordance with this paragraph, the Company
          shall reimburse Executive solely for:  (i) his reasonable out-of-pocket expenses (including travel, lodging and meals) upon submission of receipts and (ii) any reasonable attorneys’ fees incurred by Executive to the extent that, after
          consultation with the Company, Executive deems it advisable to seek the advice of legal counsel regarding his obligations hereunder.

       

      20.        Beneficiaries; References.  Executive shall be entitled to select (and change, to the extent permitted under any
          applicable law) a beneficiary or beneficiaries to receive any compensation or benefit payable hereunder following Executive’s death, and may change such election, in either case by giving the Company written notice thereof.  In the event of
          Executive’s death or a judicial determination of his incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to refer to his beneficiary, estate or other legal representative, and the Company shall pay amounts
          payable under this Agreement, unless otherwise provided herein, in accordance with the terms of this Agreement, to Executive’s personal or legal representatives, executors, administrators, heirs, distributees, devisees, legatees or estate, as the
          case may be.

       

      [SIGNATURE PAGE FOLLOWS]

       

      
        - 17 -

        
          

      

      IN WITNESS WHEREOF, the parties have executed this Employment Agreement on the day and in the year first written above.

       

      	 	
              COMPANY:

            
	 	 
	 	
              CINEMARK HOLDINGS, INC.

            
	 	 	 
	 	
              By:

            	
              /s/ Michael Cavalier

            
	 	
              Name:

            	
              Michael Cavalier

            
	 	
              Title:

            	
              Executive Vice President – General Counsel and Business Affairs

            

      

      

      	 	
              EXECUTIVE:

            
	 	 
	 	
              /s/ Sean Gamble

            
	 	
              Sean Gamble

            

      

      

      

      

      - 18 -

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