Document bDeQXzx3wxKdMNnn9XgeawZ1

company ,\ame - Aat~< i_u:U Ati> Filing Date: i2/31/IVV6 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. MAFCO WORLDWIDE CORPORATION By: /s/ Theo W. Folz Theo W. Folz Chief Executive Officer /s/ Pramathesh S. Vora Pramathesh S. Vora 14 Employment Agreement EMPLOYMENT AGREEMENT, dated as of September 1, 1996, between Mafco Worldwide Corporation, a Delaware corporation (the "Company") and Stephen G. Taub (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; Accordingly, 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 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 or any officer of the Company senior to the Executive. 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 Disclosure Page 61