FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT
THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “ Amendment ”), dated as
of April 28, 2008, is entered into between WACHOVIA CAPITAL FINANCE CORPORATION
(WESTERN), a California corporation, as Agent and Lender (in such capacities, “ Lender ”), IMAGE
ENTERTAINMENT, INC., a Delaware corporation (“ Borrower ”), EGAMI MEDIA, INC., a Delaware
corporation (“ Egami ”), IMAGE ENTERTAINMENT (UK), INC., a Delaware corporation (“ Image (UK) ”)
and HOME VISION ENTERTAINMENT, INC., a Delaware corporation (“ HVE ” and together with Egami and
Image (UK), collectively, “ Guarantors ”).
A. Borrower, Guarantors and Lender have previously entered into that certain Loan and Security Agreement
dated May 4, 2007 (the “ Loan Agreement ”), pursuant to which Lender has made certain loans and financial
accommodations available to Borrower. Terms used herein without definition shall have the meanings ascribed to
them in the Loan Agreement.
B. Borrower, Guarantors and Lender now wish to amend the Loan Agreement on the terms and conditions set
C. Borrower and Guarantors are entering into this Amendment with the understanding and agreement that,
except as specifically provided herein, none of Lender’s rights or remedies as set forth in the Loan Agreement is
being waived or modified by the terms of this Amendment.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereby agree as follows:
1. Amendments to Loan Agreement .
(a) The definition of “Applicable Margin” in Section 1.7 of the Loan Agreement is hereby amended and
restated to read in its entirety as follows:
“1.7 ‘Applicable Margin’ shall mean, at any time, with respect to any Prime Rate Loan or
Eurodollar Rate Loan, the applicable rate per annum set forth below under the caption “Prime