EXHIBIT 10.5
EXTENSION AND AMENDMENT AGREEMENT
THIS EXTENSION AND AMENDMENT AGREEMENT ("Agreement") is entered into as of the 1st day of
July, 1998 by and between Big Entertainment, Inc., a Florida corporation (the "Company") and Mitchell
Rubenstein (the "Executive").
WITNESSETH:
WHEREAS, the Executive has served as Chief Executive Officer of the Company since its inception, and
presently serves in this capacity pursuant to a written Employment Agreement with the Company entered into as
of July 1, 1993 (the "Current Employment Agreement"); and
WHEREAS, the five-year term of the Current Employment Agreement ends July 1, 1998; and
WHEREAS, the Executive possesses intimate knowledge of the business and affairs of the Company, its policies,
methods and personnel; and
WHEREAS, the Board of Directors (the "Board") of the Company recognizes that the Executive's contribution to
the growth and success of the Company has been and will continue to be substantial and desires to assure the
Company of the Executive's continued employment in an executive capacity and to compensate Executive
therefor; and
WHEREAS, the Board has determined that entering into this Agreement to extend and update the Current
Employment Agreement will reinforce and encourage the Executive's continued attention and dedication to the
Company; and
WHEREAS, the Executive is willing to make his services available to the Company on the terms and conditions
hereinafter set forth.
NOW, THEREFORE, in consideration of the premises and mutual covenants set forth herein, the parties hereby
agree as follows:
1. EXTENSION. The Current Employment Agreement is hereby extended for an additional five-year term
beginning on the date hereof and ending on the fifth anniversary of said date unless sooner terminated pursuant to
the terms of said Current Employment Agreement.
2. AMENDMENT TO REFLECT CURRENT BASE SALARY. Section 2.1 of the Current Employment
Agreement is amended to provide that the "Base Salary" shall be $200,000 plus a