Exhibit 10.1
TERMINATION
AGREEMENT
This TERMINATION AGREEMENT, dated as
of July 15, 2005 (this “Agreement”), is entered into by
and among Weider Publications, LLC, a Delaware limited liability
company, Oak Productions, Inc., a California corporation
(“Oak”), and American Media, Inc., a Delaware
corporation (“AMI”).
W I T N E S S E T H
WHEREAS, the parties hereto are
parties to that certain Consulting Services Agreement dated as of
January 1, 2004 (the “Consulting Services Agreement”);
and
WHEREAS, AMI is a party to that
certain Agreement to Make Contributions dated January 1, 2004
addressed to Oak (the “Agreement to Make
Contributions”); and
WHEREAS, the parties wish to
terminate the Consulting Services Agreement and the Agreement to
Make Contributions;
NOW, THEREFORE, in consideration of
the mutual promises and agreements herein made and intending to be
legally bound hereby, the parties hereto agree as
follows:
1. The parties hereto hereby agree
to terminate the Consulting Services Agreement and the Agreement to
Make Contributions, effective as of the date hereof. In furtherance
hereof, the parties recognize that they shall have no rights or
obligations arising on or after t
