Document:

EMPLOYMENT AGREEMENT
                              --------------------

         AGREEMENT dated as of the 31" day of March 2003, between SCORES HOLDING
COMPANY, INC., a Utah corporation with its principal place of business at 150 E.
58th Street, New York, New York 10022 ("SCOH") and RICHARD GOLDRING an
individual whose address is 5 Fox Chase Drive, Watchung, NJ 07067 (the
"Employee").

                              W I T N E S S E T H:

         WHEREAS, SCOH intends to engage in the business of owning and operating
adult entertainment nightclubs;
and

         WHEREAS, SCOH intends to engage in the business of managing adult
entertainment nightclubs owned by third parties and/or licensing the right to
use the Scores name or other intellectual property owned by SCOH to adult
entertainment nightclubs owned by third parties; and

         WHEREAS, Employee presently serves as President, Chairman and Chief
Executive Officer, for SCOH and SCOH seeks to further engage Employee on the
terms and conditions set forth below; and

         NOW, THEREFORE, in consideration of the mutual covenants and promises
herein contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

         1.    Employment. SCOH hereby employs Employee and Employee accepts
employment upon the terms and conditions of this Agreement. In addition to his
other duties, Employee shall be primarily responsible for SCOH's licensing
program. Employee shall not be precluded hereunder from continuing his
employment as Operations Manager for Scores Showroom, an adult entertainment
nightclub located at 333-E.60th Street, New York, New York so long as such
employment shall not interfere with Employee's ability to properly perform the
duties assumed pursuant to this Agreement.

         2.    Term. SCOH hereby employs Employee and Employee hereby accepts
employment for a term commencing on the date hereof (the "Commencement Date"),
and expiring on the tenth (10) anniversary of this Agreement, unless sooner
terminated as hereinafter provided (the "Employment Period"). Except as
otherwise provided herein, Employee may unilaterally terminate this Agreement at
any time, upon providing SCOH with sixty (60) days prior written notice.

         3.    Employment and Duties.

               3.1 Title. Employee is employed in the capacity of President
and Chief Executive Officer for SCOH.

               3.2 Duties and Responsibilities. The services to be rendered by
Employee pursuant to this Agreement shall consist of such services as defined
and directed by SCOH's board of directors. Employee agrees to perform such
services with great diligence and care.

               3.3  Observance of Rules and Regulations. Employee agrees to
observe and comply with the rules and regulations of SCOH with respect to the
performance of his duties.

         4.    Compensation; Benefits and Expenses

               4.1  Base Salary. As compensation for the services to be rendered
hereunder, SCOH shall pay to Employee a base annual salary (the "Base Salary")
of $104,000 payable in equal bi-weekly installments.

               4.2 Other Benefits. Employee shall also be eligible to
participate in any benefit programs of SCOH, including but not limited to
pension, insurance or other supplemental or special compensation plans or
arrangements. Employee shall also be eligible to receive performance based
bonuses as approved and authorized by SCOH's board of directors.

               4.3 Travel, Automobile and Living Allowances. During the term of
this Agreement, Employee shall be entitled to annual travel, automobile and
living allowances. In connection herewith, SCOH agrees to advance and/or
reimburse Employee for all reasonable travel, automobile, living and other
expenses incurred by Employee in rendering the services hereunder on behalf of
SCOH provided Employee has all expenses in excess of $5,000 preapproved by SCOH.
Employee will be reimbursed upon presentation of vouchers or other documents
reasonably necessary to verify the expenditures and sufficient, in form and
substance, to satisfy Internal Revenue Service requirements for such expenses.
The maximum amount of Employee's annual automobile and living allowances under
this Agreement shall be determined by SCOH's board of directors.

         5.    Disability or Death of Employee.

               5.1 SCOH shall obtain death and disability insurance on
Employee listing SCOH as the beneficiary in the minimum amount of $5,000,000. In
the event Employee dies or becomes disabled during the Employment Period,
entitling SCOH to receive payment under the insurance policy, SCOH's obligation
to pay Employee further Base Salary and benefits shall cease. Notwithstanding
the forgoing, Employee or his estate shall be entitled to all accrued but unpaid
Base Salary and other benefits due to Employee through the date of death or
disability.

               5.2 (i) SCOH shall apply the insurance proceeds to the purchase
of Employee's stock in SCOH which will be valued and purchased by SCOH at a 20%
discount from the market price of the stock as at the date of death or
disability.
<PAGE>

         (ii) Except as otherwise provided in Section 5.2(iv) below, in the
event Employee owns SCOH stock with a value of less than $5,000,000 as at the
date of death or disability, SCOH shall be entitled to retain the balance of
insurance proceedings remaining after the purchase of Employee's SCOH stock.

         (iii) In the event Employee owns stock with a value of more than
$5,000,000 as at the date of death or disability, SCOH shall have the right, but
not the obligation, to purchase more than $5,000,000 of such stock at the
discounted price. In connection therewith, SCOH shall give notice to Employee or
his estate, as the case may be, not more than 15 days after the date of death or
disability to advise of its intention as to Employee's additional SCOH shares.
Such notice will include the number of additional SCOH shares which are being
purchased.

         (iv) Notwithstanding Section 5.2(ii) above, in the event Employee owns
no SCOH stock or owns SCOH stock with a discounted value of less than $1,000,000
as at the date of death or disability , Employee or his estate, as the case may
be, shall be entitled to retain all of their SCOH shares and receive $1,000,000
of the insurance proceeds.

         6.    Termination.

               6.1  Termination By SCOH For Cause. Notwithstanding
anything to the contrary in this Agreement, SCOH shall have the right, subject
to this Section 6, to terminate this Agreement "for cause", by giving Employee
seven (7) days prior written notice to that effect, and Employee's right to
further compensation and benefits hereunder, shall then immediately cease. Any
termination SCOH under this paragraph "for cause" shall be without prejudice to
Employee's right to receive all compensation and benefits owed to him through
the effective date of termination. As used herein and throughout this Agreement,
the term "for cause" shall mean (i) commission of a willful act of dishonesty in
the course of Employee's duties hereunder, (ii) a material breach of this
Agreement that is not cured within 30 days of receipt of notice thereof, or
(iii) Employee's conviction of a criminal offense or crime constituting a felony
or conviction in respect to any act involving fraud, dishonesty or moral
turpitude resulting in detriment to SCOH or reflecting upon SCOH's integrity
(other than traffic infractions or similar minor offenses).

         6.2 Termination By Employee Other Than For Good Reason. In the event
Employee terminates this Agreement without Good Reason (as defined in Section
6.3 hereof), Employee's rights to further compensation and benefits, hereunder
shall then immediately cease. Employee must give SCOH a minimum of 60 days prior
written notice to effect such a termination. Notwithstanding the foregoing, in
the event Employee terminates this Agreement without Good Reason more than three
years and less than seven years after the Commencement Date, SCOH shall pay
Employee a $1,000,000 termination fee.
<PAGE>

         6.3   Termination By Employee For Good Reason or Termination BY SCOH
Without Cause. (i) In the event Employee terminates this Agreement for "Good
Reason" or SCOH terminates this Agreement without cause, Employee shall be
entitled to receive all of the remaining Base Salary then due Employee under
this Agreement plus any previously unreimbursed travel, living or car expenses.

         (ii) Employee shall have the right to terminate this Agreement and his
employment hereunder for "Good Reason" if (A) Employee shall have given SCOH
prior written notice of the reason therefore, (B) such notice shall have been
given to SCOH within fifteen (15) days after Employee is notified or otherwise
first learns of the event constituting "Good Reason," and (C) a period of
fifteen (15) days following receipt by SCOH of such notice shall have lapsed and
the matters which constitute or give rise to such "Good Reason" shall not have
been cured or eliminated within such fifteen (15) day period, such period shall
be extended up to forty-five (45) days, provided that SCOH shall take and
diligently pursue during such period such action necessary to cure or eliminate
such matters. In the event SCOH shall not take such action within such period,
Employee may send another notice to SCOH electing to terminate his employment
hereunder and, in such event, Employee's employment hereunder shall terminate
and the effective date of such termination shall be the 30 days after SCOH shall
have received such notice.

         (iii) For the purpose of this Agreement, "Good Reason" shall mean the
occurrence of any of the following without Employee's prior written consent:

                  (1) Requiring Employee to engage in an illegal act, or an act
         which is inconsistent with prior practices of SCOH and which could
         reasonably be deemed to be materially damaging or detrimental to
         Employee;

                  (2) A default by SCOH in the payment of any material sum or
         the provision of any material benefit due to Employee pursuant to this
         Agreement;

                  (3) The failure of SCOH to obtain the assumption of this
         Agreement by any successor to substantially all of the assets or
         business of SCOH; or

                  (4) Any material breach by SCOH of any provision of this
         Agreement which is not corrected by SCOH or, if the breach cannot be
         corrected, as to which SCOT fails to pay to Employee reasonable
         compensation for such breach, within 60 days following receipt by SCOH
         of written notice from Employee specifying the nature of such breach.

         7.    Confidentiality. Employee agrees that all confidential and
proprietary information relating to the business of SCOH shall be kept and
treated as confidential both during and after the term of this Agreement, except
as may be permitted in writing by SCOH's Board of Directors or as such
information is within the public domain or comes within the public domain
without any breach of this Agreement.
<PAGE>

         8.    Assumption of Insurance Policy. In the event this Agreement is
terminated by SCOH without cause or by Employee for Good Reason, Employee shall
have the right, if exercised by Employee in writing within 15 days of such
termination, to assume the death and disability insurance policy, and to make
Employee the beneficiary thereof.

         9.    Indemnification. SCOH and Employee shall indemnify the other
party for any losses, damages, liabilities, judgments, claims, costs, penalties
and expenses incurred by such other party (including without limitation costs
and reasonable attorneys' fees and costs), resulting from the indemnifying
party's failure to perform any of their obligations contained in this Agreement.
SCOH shall indemnify Employee against any liabilities incurred by him in
connection with any proceeding to which he is made a party as the result of his
performing his duties hereunder, unless such liability results from Employee's
gross negligence or misconduct in the performance of such duties.

         10.   Vacation. Employee shall be entitled to eight (8) weeks of paid
vacation time per contract year.

         11.   Governing Law. This Agreement shall be governed by the internal
laws of the State of New York. Any action to enforce any term hereof shall be
brought exclusively within the state or federal courts of New York, New York to
which jurisdiction and venue all parties hereby submit themselves.

         12.   Binding Effect. Except as otherwise herein expressly provided,
this Agreement shall be binding upon, and shall inure to the benefit of the
parties hereto, their respective heirs, legal representatives, successors and
assigns.

         13.   Notices. All notices, designations, consents, offers,
acceptances, waivers or any other communication provided for herein, or required
hereunder shall be in writing and shall be mailed by certified mail, return
receipt requested, overnight courier, or delivered by hand.

The notices shall be addressed as follows:

         If to Employee: to the address set forth above

         If to SCOH: to the address set forth above

or to such other address as a party hereto may notify the other pursuant to this
Section.

         14.   Additional Documents. Each of the parties hereto agrees to
execute and deliver, without cost or expense to any other party, any and all
such further instruments or documents and to take any and all such further
action reasonably requested by such other of the parties hereto as may be
necessary or convenient in order to effectuate this Agreement and the intents
and purposes thereof
<PAGE>

         15.   Counterparts. This Agreement and any amendments hereto may be
executed in two (2) or more counterparts, each of which shall be deemed an
original and all of which shall constitute one and the same instrument, binding
on the parties and the signature of any party to any counterpart shall be deemed
a signature to, and may be appended to, any other counterpart.

         16.   Entire Agreement. This Agreement contains the sole and entire
agreement and understanding of the parties and supersedes any and all prior
agreements, discussions, negotiations, commitments and understandings among the
parties hereto with respect to the subject matter hereof. There are no
representations, agreements, arrangements or understandings, oral or written,
between or among the parties concerning the subject matter hereto, which are not
fully expressed herein or in any supplemental written agreements of even or
subsequent date hereof

         17.   Severability. If any provision of this Agreement, or the
application thereof to any person or circumstances, shall, for any reason and to
any extent, be invalid or unenforceable, the remainder of this Agreement and the
application of such provision to other persons or circumstances shall not be
affected thereby, but rather shall be enforced to the greatest extent permitted
by law.

         18.   Modification. This Agreement cannot be changed, modified or
discharged orally, but only if consented to in writing by both parties.

         19.   Contract Headings. All headings of the Sections of this Agreement
have been inserted for convenience of reference only, are not to be considered a
part of this Agreement, and shall in no way affect the interpretation of any of
the provisions of this Agreement.

         20.   Waiver. Failure to insist upon strict compliance with any of the
terms, covenants, or conditions hereof shall not be deemed a waiver of such
term, covenant, or condition, nor shall any waiver or relinquishment of any
right or power hereunder at any one time or more times be deemed a waiver or
relinquishment of such right or power at any other time or times.

         21.   Representation of Employee. Employee, with the full knowledge
that SCOH is relying thereon, represents and warrants that he has not made any
commitment inconsistent with the provisions hereof and that he is not under any
disability which would prevent him from entering into this Agreement and
performing all of his obligations hereunder.

                            [Signature page follows]

<PAGE>

IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first above written.

                                     SCORES HOLDING COMPANY, INC.

                                     By:
                                     Name:
                                     Title:SUBLICENSE AGREEMENT

         THIS AGREEMENT made and entered into this 13th day of June, 2003, by
and between ENTERTAINMENT MANAGEMENT SERVICES, INC., a New York corporation with
its principal office at 533-535 West 27th Street, New York, NY 10001 or designee
("Licensor") and STONE PARK ENTERTAINMENT, a Illinois corporation with its
principal place of business at 4003 Lake Street, Stone Park, Cook County,
Illinois ("Licensee").

                              W I T N E S S E T H:

         WHEREAS, LICENSOR is the exclusive licensee of the SCORES trademarks
and related intellectual property listed on Exhibit A (the "Scores Trademarks")
and has the right to sublicense the same on the terms set forth herein; and

         WHEREAS, LICENSEE is the owner and operator of an adult-entertainment
night club to be located at 4003 Lake Street, Stone Park, Cook County, Illinois
(the "Location") which will conduct business under the name "Scores"; and

         WHEREAS, LICENSEE will hereby receive the right and license to use the
Scores Trademarks in connection with the operation of the Location, and the sale
of certain merchandise, for the Term (as defined below) (the "Business");

         NOW, THEREFORE, for and in consideration of the promises, covenants,
and agreements contained herein, and for other good and valuable consideration,
receipt of which is hereby acknowledged by both parties, the parties agree as
follows:

         1. LICENSE GRANT.

         (a) Business. Licensor hereby grants to Licensee and Licensee accepts,
         a non-exclusive (except as provided in subparagraph (c) below) license
         to use the Scores Trademarks during the Term in connection with the
         Business subject to the terms and conditions of this License Agreement.

         (b) Merchandising. Licensor hereby grants to Licensee, on the terms and
         conditions set forth herein, a non-exclusive license during the Term to
         use the Scores Trademarks in connection with the retail sale of
         commercial merchandise, including tee-shirts, sweatshirts, sweat pants,
         jackets, baseball hats, key rings, and other similar merchandise, all
         to be sold at and out of the Business including the right to sell any
         merchandise utilizing the Scores Trademarks relative to the Business
         over the Internet on a site maintained by the Business and by mail
         order, catalog or at any other location or in any other channel
         specific to the Business, provided further, that Licensee will purchase
         all merchandise from Licensor at cost plus a 25% markup.
<PAGE>

         (c) Exclusivity in Cook County. Subject to the approval of additional
         locations by Licensor which shall not be unreasonably withheld,
         Licensee will have during the term hereof the exclusive right to open
         additional locations within Cook County, and specifically within a
         twenty five (25) mile radius of 4003 Lake Street, Stone Park, Cook
         County, Illinois. Additional locations will be required to enter into
         an agreement with Licensor substantially similar to this Agreement with
         respect to the terms and conditions hereof related to the license
         granted and royalties and general terms and conditions, subject to the
         final agreement between the parties hereto.

         2. ROYALTIES:

         (a) Amount. Licensor agrees that during the first sixty (60) days of
         operation of the business the Licensee will not be required to pay a
         license fee to the Licensor. On the sixty first (61st) day of operation
         and for the remainder of the term hereof the Licensee agrees to pay
         $2,500.00 per week or four and 99/100 percent (4.99%) of the Gross
         Revenues of Licensee earned at the Location whichever is greater. Gross
         Revenues means 100% of Licensee's receipts received from the Business'
         operation, less $25,000.00 per week, less all actual local sales taxes
         paid, amounts specifically designated by customers on credit card
         receipts as "tips for service," credit card discount fees,
         complementary food and beverage sales. Gross Revenues include all
         revenues from operation of the Business including, but not limited to,
         Liquor Revenue, Beer Revenue, Champagne Revenue, Shot Girl House Fees,
         Wine Revenue Non-Alcoholic Beverage Revenue, Food Revenue, Party
         Revenue, Admission Fees Club, Admission Fees Private Rooms, Room
         Rental, Humidor Revenue, Cigar Revenue, Cigarette Revenue, Candy
         Revenue, Novelty Revenue, Valet Revenue, Coat Check Revenue, Concession
         - Cigarette, Concession - Bathroom, Concession - Massage, Concession -
         Tarot, Dressing Room Rent, House Fees Entertainers, House Fees DJ's,
         House Fees Floor Manager, House Fees Service Personnel, Feature -
         Calendar, Feature - Novelty, Feature - Video, Feature - Cigar and
         Internet Revenue and will also include the fee charged to customers for
         the purchase of Diamond Dollars (R) and the fee paid by entertainers
         for cashing in Diamond Dollars (R).

         (b) Royalty Reports. Licensee shall furnish Licensor with written
         reports describing in detail all sales relative to the Business. The
         reports shall be prepared and sent to Licensor not later than seven (7)
         days following the 15"' and last day of each month. Reports will be
         adjusted on a quarterly basis (if necessary), not later than ten (10)
         days after each calendar quarter period ending in March, June,
         September and December of each year.

         (c) Payment. Payment of royalties due under this Paragraph shall be
         made within ten (10) days of the issuance of each royalty report set
         forth above.
<PAGE>

         3. APPROVAL BY LICENSOR. In order to preserve the value, goodwill and
         reputation of the Scores Trademarks, Licensee and Licensor shall
         consult each other during the Term hereof with regard to any marketing,
         advertising or promotional activities pursuant to the Business and
         Licensor. will have the right to approve all advertisements,
         promotional, marketing and other similar materials, including but not
         limited to the images and format of Diamond Dollars (R) for the
         Location. Furthermore, prior to releasing or using any promotional,
         marketing, advertising or other similar materials which have not been
         approved by Licensor in the twenty-four (24) month period preceding the
         proposed use or in the event Licensee intends to utilize any such
         materials which have been used in the past 24 months but intends to do
         so in a media not used by Licensor in the 24-month period preceding the
         proposed use, Licensee shall first obtain the prior written consent of
         Licensor for such use, which shall not be unreasonable withheld. In
         connection with obtaining such consent, Licensee shall send copies of
         all materials and media for the proposed use so that Licensor can
         thoroughly evaluate the proposed use. Licensor agrees to inform the
         Licensee of its decision regarding any approvals within twenty four
         (24) hours of receiving all materials and media for approval.

         4. COMPLIANCE WITH APPLICABLE LAWS AND STANDARDS. Licensee is
         responsible for the compliance with all applicable laws and safety
         standards regarding the operation of the Business, the Location, other
         licensed locations and the use of the Scores Trademarks herein.
         Licensor's approval of submissions pursuant to Paragraph 3 above in no
         way affects, alters, diminishes or waives Licensee's obligations
         hereunder or under Licensee's obligation to indemnify Licensor as set
         forth herein below.

         5. BOOKS AND RECORDS. Licensee shall, for a minimum of three (3) years
         from their rendition, keep full and accurate books of account, records,
         data and memoranda representing Licensee's sales. Licensee further
         gives Licensor the right, at its own cost and expense, to examine said
         books and records on reasonable notice, such examination to be
         conducted in such a manner as to not unreasonably interfere with the
         business of Licensee. Licensee shall reasonably cooperate with Licensor
         in the event the owner of the Scores Trademarks requests an audit.
         Licensor or its representatives shall not disclose to any other person,
         firm, or corporation any information acquired as a result of any
         examination, provided, however, that nothing contained herein shall be
         construed to prevent Licensor and/or its duly authorized
         representatives from using or disclosing said information in any court,
         arbitration, or other action instituted to enforce the rights of
         Licensor hereunder.

         6. INTELLECTUAL PROPERTY RIGHTS.

         (a) All copyrights, trademarks and/or patents in the Scores Trademarks
         and related intellectual property belong solely to Licensor and are
         within the scope of the license granted herein. Upon termination of
         this Agreement all intellectual property rights and rights granted
         herein in the Scores Trademarks immediately revert to Licensor or the
         owner of the Scores Trademarks and Licensee agrees to return to
         Licensor all original artwork, models, samples, prototypes, renderings
         and drawings incorporating the Scores Trademarks. All use by Licensee
         of the intellectual property rights of the Scores Trademarks shall
         inure to the sole benefit of Licensor and the owner of the Scores
         Trademarks. Licensee shall execute any and all documents necessary to
         confirm said reversions of rights and hereby appoints Licensor its
         attorney-in-fact to execute any such documents in the event Licensee is
         unwilling or unable to do so. Licensee acknowledges the exclusive
         ownership of all intellectual property rights in and to the Scores
         Trademarks by the owner of the Scores Trademarks and will not take any
         action to interfere with or challenge said ownership, including but not
         limited to registering or attempting to register the same or similar
         marks or properties anywhere in the World, nor commence or participate
         in cancellation or opposition proceedings.
<PAGE>

         7. WARRANTY.

         (a) Licensor hereby warrants that, to the best of its knowledge, the
         granting of the license hereunder or the subsequent commercial
         exploitation of the license does not violate the intellectual property
         or contract rights of any third party. Licensor further warrants that
         it his not intentionally violated the rights of any third party in
         granting Licensee this license.

         (b) Licensee hereby warrants that any goods sold by it bearing the
         Scores Trademarks and each component thereof shall be of good quality
         and free of defects in design, materials, workmanship and shall comply
         with all applicable laws and safety standards.

         8. OFFENSIVE LITIGATION. Licensee agrees to give Licensor prompt
         notification of any third party's actions which would constitute an
         infringement of the rights granted to it by this Agreement. Licensor
         shall prosecute, at its own discretion, infringement actions against
         any third party infringers and any recoveries obtained therein shall
         belong exclusively to Licensor. Licensee shall, at Licensor's expense,
         cooperate in all respects with Licensor's prosecution of said suits,
         including but not limited to being named as a party in any such suit,
         producing documents, appearing as witnesses, etc.

         9. INDEMNIFICATION.

         (a) Licensor agrees to indemnify and hold harmless Licensee from and
         against any and all damage, loss, and expense incurred as a result of
         the breach of any of Licensor's warranties herein. This indemnification
         shall become operative only after a final judgment, order or decree is
         issued which contains a finding that Licensor intentionally infringed
         upon the rights of a third party. Any claims made against Licensee
         which would result in Licensor becoming obligated to indemnify Licensee
         hereunder shall not permit Licensee to withhold any amounts due
         Licensor hereunder.
<PAGE>

         (b) Licensee agrees to indemnify, defend, and hold harmless Licensor,
         its agents and employees from and against any and all loss and expense
         arising out of any claims of personal injury, product liability,
         wrongful death, negligence, strict liability or other similar action,
         in addition to the breach of any of its warranties hereunder or the
         violation of any applicable law or safety standard based on the use of
         the Scores Trademarks by or on behalf of Licensee and/or its
         subsidiary, affiliated, controlled company. Licensee shall maintain, at
         its sole cost and expense, premises liability, liquor liability,
         workman's compensation (in the amount required by the State of
         Illinois), plate glass insurance (as per Licensee's lease), commercial
         liability coverage and other customary insurance. The premises,
         commercial, and liquor policies must provide coverage of at least
         $3,000,000/$3,000,000, naming Licensor as an additional insured, and
         providing that such policy cannot be canceled without thirty (30) days
         prior written notice to Licensor. In the event any claim is made
         against Licensor in excess of the limits of Licensee's insurance set
         forth above, Licensor may, at Licensee's expense, retain counsel of its
         own choosing to defend said claims. All insurance shall be primary and
         not contributory. Licensee agrees to provide Licensor with a copy of
         the insurance declarations and/or certificates within 20 days following
         the date of this Agreement.

         10. TERMINATION.

         (a) In case either party fails to perform under or commits or allows to
         be committed a breach of any of the several covenants and conditions
         herein contained, the other party shall notify such party in writing of
         such failure or default and such party shall then have the right to
         remedy such failure or default within thirty (30) days. If the default
         has not been cured within said thirty (3 0) days of notice to the
         defaulting party, then the aggrieved party may terminate this Agreement
         by giving five (5) days advance notice of termination in writing to the
         defaulting party. If Licensor shall send notice of default to Licensee
         based on a failure to pay royalties, then Licensee shall cure such
         default within ten (10) days of notice.

         (b) In the event that Dennis R. DeGori ceases his association with
         Licensee, or in the event that his ownership of the equity of Licensee
         becomes less than fifty percent (50%) of such equity ("DeGori Event"),
         then Licensee shall give prompt notice of the DeGori Event to

         16. ASSIGNMENT. This Agreement shall be binding upon and inure to the
         benefit of the parties hereto and their respective successors and
         permitted assigns, but neither this Agreement, nor any of the rights,
         interests or obligations hereunder shall be assigned by Licensee
         without the prior written consent of Licensor, and any attempts to do
         so without the consent of Licensor shall be void and of no effect.

<PAGE>

         17. ENTIRE AGREEMENT. This writing constitutes the entire agreement and
         understanding between the parties. No other oral or written agreements
         or representations exist or are being relied upon by either party, all
         being merged herein. Any modifications or additions hereto must be made
         in writing and signed by both parties.

         18. MISCELLANEOUS.

         (a) The paragraph headings used herein are for reference purposes only
         and do not effect the meaning or interpretation of this Agreement. If
         any provisions of this Agreement are for any reason declared to be
         invalid or illegal, the remaining provisions shall not be affected
         thereby.

         (b)The failure of either party to enforce any or all of its rights
         hereunder as they accrue shall not be deemed a waiver of those rights,
         all of which are expressly reserved.

         (c)This Agreement may be executed in more than one counterpart, all of
         which shall be deemed to be originals.

         19. SECURITY INTEREST.

         (a) In order to induce Licensor to enter into this Agreement and to
         secure the complete and timely performance of Licensee's obligations
         hereunder, Licensee hereby grants to Licensor a security interest in
         the license granted under this Agreement as well as Licensee's
         receivables in connection therewith. In the event Licensee defaults
         under this license and Agreement, Licensor may enforce against Licensee
         all the rights and remedies of a secured creditor upon default under
         all applicable laws. In the event Licensee files for bankruptcy under
         the U.S. Bankruptcy laws, Licensor may enforce all rights and remedies
         of a secured creditor under the U.S. Bankruptcy Code.

         (b) Licensee agrees to execute any and all documents necessary to
         perfect Licensor's security interest in this license including, but not
         limited to, Financing Statement Form UCC-1 and any other security
         agreements and financing statements evidencing said security interests
         in such form as may be recorded and perfected according to the laws of
         the State of New York and the U.S. Patent and Trademark Office.

<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement of Seven (7)
pages as of the date first written above.

                                     ENTERTAINMENT MANAGEMENT SYSTEMS, INC.

                                     By:
                                     Title:

                                     STONE PARK ENTERTAINMENT, Inc.

                                     By:
                                     Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]