Employment Agreement





     EMPLOYMENT AGREEMENT, dated as of April 1, 2003 between Panavision Inc., a

Delaware corporation (the "Company") and Robert L. Beitcher (the "Executive").



     WHEREAS, the Company wishes to employ the Executive, and the Executive

wishes to accept such employment, on the terms and conditions set forth in this

Agreement.



     NOW, THEREFORE, the Company and the Executive hereby agree as follows:



     1. Employment, Duties and Acceptance.



          1.1 Employment, Duties. The Company hereby employs the Executive for

the Term (as defined in Section 2.1), to render exclusive and full-time services

to the Company as President and Chief Operating Officer, and as a member of the

Board of Directors, or in such other executive position as may be mutually

agreed upon by the Company and the Executive, and to perform such other duties

consistent with such position as may be assigned to the Executive by the Board

of Directors. The Executive will report to the Executive Committee of the Board

of Directors. If during the Term a person other than Ronald O. Perelman or

Howard Gittis is appointed Chief Executive Officer of the Company, such

appointment will constitute a Company breach under Section 4.4 of this

Agreement.



          1.2 Acceptance. The Executive hereby accepts such employment and

agrees to render the services described above. During the Term, the Executive

agrees to serve the Company faithfully and to the best of the Executive's

ability, to devote the Executive's entire business time, energy and skill to

such employment, and to use the Executive's best efforts, skill and ability to

promote the Company's interests. The Executive further agrees to accept

election, and to serve during all or any part of the Term, as an officer or

director of the Company and of any subsidiary or affiliate of the Company,

without any compensation therefor other than that specified in this Agreement,

if elected to any such position by the shareholders or by the Board of Directors

of the Company or of any subsidiary or affiliate, as the case may be.



          1.3 Location. The duties to be performed by the Executive hereunder

shall be performed primarily at the office of the Company in Woodland Hills,

California, subject to reasonable travel requirements on behalf of the Company.





<PAGE>



     2. Term of Employment; Certain Post-Term Benefits.



          2.1 The Term. The term of the Executive's employment under this

Agreement (the "Term") shall commence on April 7, 2003. The Term shall end on

December 31, 2005, or such later date to which the Term is extended pursuant to

Section 2.2.



          2.2 End-of-Term Provisions. At any time after December 31, 2004, the

Company or the Executive shall have the right to give written notice of

non-renewal of the Term. In the event the Company or the Executive gives such

notice of non-renewal, the Term automatically shall be extended so that it ends

twenty four months after the last day of the month in which the Company or

Executive gives such notice. Unless and until the Company or the Executive gives

written notice of non-renewal as provided in this Section 2.2, the Term

automatically shall be extended day-by-day so that it ends twenty four months

after the last day of the month in which the Company or the Executive gives such

notice.



          2.3 Special Curtailment. The Term shall end earlier than December 31,

2005 or any extended date of termination provided in Section 2.2, in either case

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC