EXHIBIT 99.1
July 1,
2009
Mr. Matthew K.
Behrent
EDCI Holdings,
Inc.
11 E. 44
th St., Suite 1201
New York, NY
10017
Dear
Matt,
This letter
amends and restates your employment letter dated August 25, 2008
with Entertainment Distribution Company, Inc. to confirm certain
terms and conditions of your continued employment in the position
of Executive Vice President, Corporate Development and Legal
Counsel of EDCI Holdings, Inc. (the
“Company”). This position is located in New
York, New York and reports directly to the Chairman of the Board of
Directors of the Company. In this position, you are
responsible for all duties and services as normally are associated
with such position or may be assigned to you from time to
time.
Your base
compensation is $175,000 per annum (the “Base Salary”),
which shall be paid in bi-weekly installments for 26 pay periods
per year in accordance with the Company’s normal payroll
practices.
You will be
eligible to participate in the Company’s Incentive Bonus Plan
and other bonus plans or programs as shall be established by the
Board upon recommendations from management of the Company from time
to time for senior executives of the Company. In
addition, you will be eligible to receive discretionary bonus
awards as the Board may determine in its sole discretion from time
to time.
During the term
of your employment, you will be entitled to four (4) weeks of
vacation in each calendar year at such times as shall be mutually
convenient to you and the Company. Your vacat
