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Exhibit 10.23    
  

 
 

FORM OF EMPLOYMENT AGREEMENT OF MARIO VITALE    
  

	Position:	 	Executive Vice President, reporting to the Executive Chairman and Chief Executive Officer, Joe Plumeri.
	

Location:	
 	

New York, USA, although at some future time, by mutual agreement, you may be asked to relocate if there is a business necessity.
	

Base Salary:	
 	

$500,000 per annum, subject to normal taxes and deductions.
	

Bonus Program:	
 	

You will be included in the Company's annual incentive plan (AIP). This is an annual bonus program, based upon both quantitative and qualitative objectives and relates to overall Company, Business Unit and (your) individual performance
attainments.
	

 	
 	

Currently, the AIP scheme(s) for Senior Executives, relate(s) to the measurement of EBIT (DA) and cash flow, plus other objectives that will be set and agreed between you and Joe Plumeri. It is expected that a formal annual appraisal using 360
degree assessment will occur, as well as the primary review of quantitative achievements. The range of earnings under the AIP, are zero to 100% of your base salary; with the maximum of range being earned by the delivery of a combination of
exceptional Company and personal performance. The Company fiscal year is currently a January through December calendar year, with AIP payments being made at the end of March, following the year in which the bonus is earned and our Group results being
issued. For your first, full year of employment you will have the opportunity of earning $450,000 subject to you meeting performance conditions, again these being agreed between you and Joe Plumeri.
	

Options:	
 	

You will be granted 250,000 (Time) options, vesting in equal tranches over five years, the strike price being £2.00. The conditions relating to these options are contained in the Equity Participation Plan (EPP) and associated documentation
should be read in full.
	

Benefits:	
 	

You will be entitled to join and participate in all the benefits enjoyed by Senior, USA Executives, including for example, the pension, 401(k), medical and life insurance plan(s) etc., all the conditions relating to these plans are contained within
the brochures and explanatory booklets that accompany this offer.
	

 	
 	

There is one exception and this is the granting to you of 25 vacation days.
	

Contact Term:	
 	

The contract will have a three year term. On completion of a mutually satisfactory three year term you will revert to the normal full-time employment arrangements as enjoyed by Senior USA Executives.

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Exhibit 10.23

FORM OF EMPLOYMENT AGREEMENT OF MARIO VITALEQuickLinks
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Exhibit 10.25    
  

 
  SECOND AMENDMENT
  TO THE
  AMENDED AND RESTATED EMPLOYMENT AGREEMENT    
  

        Second
Amendment, dated as of January 1, 2003 to the Amended and Restated Employment Agreement entered into by and between Willis North America Inc. ("Willis US") and
Joseph J. Plumeri ("Executive") effective as of March 26, 2001 (the "Employment Agreement") 

        WHEREAS,
the parties wish to formally amend the Employment Agreement and reflect their mutual agreement and understanding of the modification. 

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

	1.
	Section 1(b)(ii)
of the Employment Agreement is hereby amended by the substituting for the words "Fiscal Year 2002" the words "Fiscal Years 2002 and 2003" therein.

	2.
	All
other terms of the Employment Agreement, as amended, not specifically amended or modified by this Second Amendment, shall remain in full force and effect and unaltered by this
Second Amendment. 

	WILLIS NORTH AMERICA, INC.	 	EXECUTIVE
	

By:	

/s/  WILLIAM P. BOWDEN, JR.      
 William P. Bowden, Jr.	
 	

/s/  JOSEPH J. PLUMERI      
 Joseph J. Plumeri
	Title	General Counsel	 	 

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Exhibit 10.25

SECOND AMENDMENT TO THE AMENDED AND RESTATED EMPLOYMENT AGREEMENTQuickLinks
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Exhibit 4.7    
  

THIRD SUPPLEMENTAL INDENTURE  

        Third Supplemental Indenture (this "Supplemental Indenture"), dated as of November 28, 2002, among Regal CineMedia Corporation (the "Guaranteeing
Subsidiary"), a subsidiary of Regal Cinemas Corporation (or its permitted successor), a Delaware corporation (the "Company"), the Company and U.S. Bank National Association, as trustee under the
Indenture referred to below (the "Trustee"). 

W I T N E S S E T H  

        WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the "Indenture"), dated as of January 29, 2002, providing for the
issuance of 93/8% Senior Subordinated Notes due 2012 (the "Notes"); 

        WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which any
newly-acquired or created Guarantor shall unconditionally guarantee all of the Company's obligations under the Notes and the Indenture on the terms and conditions set forth herein (the "Subsidiary
Guarantee"); and 

        WHEREAS,
pursuant to Section 9.1 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 

        NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee
mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

        1.    Capitalized Terms.    Capitalized terms used herein without definition shall have the meanings assigned to them
in the Indenture. 

        2.    Agreement to Guarantee.    The Guaranteeing Subsidiary irrevocably and unconditionally guarantees the Guarantee
Obligations, which include (i) the due and punctual payment of the principal of, premium, if any, and interest (and Liquidated Damages, if any) on the Notes, whether at maturity, by
acceleration, call for redemption, upon a Change of Control Offer, upon an Asset Sale Offer or otherwise, the due and punctual payment of interest on the overdue principal and premium, if any, and (to
the extent permitted by law) interest on any interest on the Notes, and payment of expenses, and the due and punctual performance of all other obligations of the Company, to the Holders or the Trustee
all in accordance with the terms set forth in Article X of the Indenture, and (ii) in case of any extension of time of payment or renewal of any Notes or any such other obligations, that
the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration, call for redemption, upon a Change
of Control Offer, upon an Asset Sale Offer or otherwise. 

        The
obligations of Guaranteeing Subsidiary to the Holders and to the Trustee pursuant to this Subsidiary Guarantee and the Indenture are expressly set forth in Article X of the
Indenture and reference is hereby made to such Indenture for the precise terms of this Subsidiary Guarantee. 

        No
past, present or future director, officer, employee, incorporator or stockholder (direct or indirect) of the Guaranteeing Subsidiary (or any such successor entity), as such, shall
have any liability for any obligations of the Guaranteeing Subsidiary under this Subsidiary Guarantee or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation, except in their capacity as an obligor or Guarantor of the Notes in accordance with the Indenture. 

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        This
is a continuing Guarantee and shall remain in full force and effect and shall be binding upon the Guaranteeing Subsidiary and its successors and assigns until full and final payment
of all of the Company's obligations under the Notes and Indenture or until released in accordance with the Indenture and shall inure to the benefit o f the successors and assigns of the Trustee and
the Holders, and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges herein conferred upon that party shall automatically extend to and be
vested in such transferee or assignee, all subject to the terms and conditions hereof. This is a Guarantee of payment and performance and not of collectibility. 

        The
obligations of the Guaranteeing Subsidiary under its Subsidiary Guarantee shall be limited to the extent necessary to insure that it does not constitute a fraudulent conveyance under
applicable law. 

        THE
TERMS OF ARTICLE X OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE. 

        3.    NEW YORK LAW TO GOVERN.    THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS
SUPPLEMENTAL INDENTURE, INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK CIVIL PRACTICE LAWS AND RULES 327(b). 

        4.    Counterparts.    The parties may sign any number of copies of this Supplemental Indenture. Each signed copy
shall be an original, but all of them together represent the same agreement. 

        5.    Effect of Headings.    The Section headings herein are for convenience only and shall not affect the
construction hereof. 

        IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written. 

	

 	
 	
THE COMPANY:
	
 	
 	

REGAL CINEMAS CORPORATION
	

 	
 	

By:	
 	

/s/  PETER B. BRANDOW      
 Name: Peter B. Brandow

Title: Executive Vice President
	

 	
 	
GUARANTEEING SUBSIDIARY:
	
 	
 	

REGAL CINEMEDIA CORPORATION
	

 	
 	

By:	
 	

/s/  GENE HARDY      
 Name: Gene Hardy

Title: Executive Vice President

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THE TRUSTEE:
	
 	
 	

U.S. BANK NATIONAL ASSOCIATION
	

 	
 	

By:	
 	

/s/  RICHARD H. PROKOSCH      
 Name: Richard H. Prokosch

Title: Vice President

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Exhibit 4.7

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