EQUITY MARKETING INC
EXHIBIT 10.1
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 10.1  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ke1321_equity_marketing,_inc.___ke102319"> </A>
<A NAME="toc_ke1321_1"> </A>
<BR></FONT><FONT SIZE=2><B>EQUITY MARKETING, INC.<BR>  <BR>    SECOND AMENDMENT<BR>  TO CREDIT AGREEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This </FONT><FONT SIZE=2><B>SECOND AMENDMENT TO CREDIT AGREEMENT</B></FONT><FONT SIZE=2> (this "</FONT><FONT SIZE=2><B>Amendment</B></FONT><FONT SIZE=2>") is
dated as of February&nbsp;8, 2002 by and among EQUITY MARKETING,&nbsp;INC., a Delaware corporation ("</FONT><FONT SIZE=2><B>Borrower</B></FONT><FONT SIZE=2>"), the financial institutions party to
the Amended Agreement (as defined below) from time to time ("</FONT><FONT SIZE=2><B>Lenders</B></FONT><FONT SIZE=2>"), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and
Issuing Lender and is made with reference to that certain Credit Agreement dated as of April&nbsp;24, 2001, as amended by the First Amendment to Credit Agreement dated as of November&nbsp;14, 2001
(the "</FONT><FONT SIZE=2><B>Credit Agreement</B></FONT><FONT SIZE=2>"), by and among Borrower, Lenders, Administrative Agent, Swing Line Lender and Issuing Lender. Capitalized terms used herein
without definition shall have the same meanings herein as set forth in the Credit Agreement. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>RECITAL  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>WHEREAS,</B></FONT><FONT SIZE=2> Borrower and Lenders desire to amend the Credit Agreement as set forth below; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>NOW, THEREFORE,</B></FONT><FONT SIZE=2> in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree
as follows: </FONT></P>

<P><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;AMENDMENTS TO THE CREDIT AGREEMENT  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>1.1</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Amendments to
Section&nbsp;1.01</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The definition for "Consolidated Fixed Charges" is hereby amended and restated as follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Consolidated Fixed Charges</I></FONT><FONT SIZE=2>" means, for any period, (without duplication) the sum of (a)&nbsp;Consolidated Interest Charges payable in
cash during such period, (b)&nbsp;scheduled principal payments during such period on Indebtedness (not including scheduled principal payments or reductions of Commitments under this Agreement),
(c)&nbsp;the Applicable Average Commitment Amount, and (d)&nbsp;the aggregate amount of Restricted Payments (excluding any stock purchased to be held as treasury stock and excluding $375,000 of
preferred dividends payable to Crown Capital in each Fiscal Quarter during 2001) made by Borrower during such period, all for Borrower and its Subsidiaries on a consolidated basis determined in
accordance with GAAP." </FONT></P>

</UL>

<P><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;BORROWER'S REPRESENTATIONS AND WARRANTIES  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In order to induce Lenders to enter into this Amendment and thereby amend the Credit Agreement in the manner provided herein, Borrower represents and warrants to
each Lender that the following statements are true, correct and complete: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>2.1</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Corporate Power and
Authority</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Borrower has all requisite corporate power and authority to enter into this Amendment and to carry out the transactions
contemplated by, and perform its obligations under, the Credit Agreement as amended by this Amendment (the "</FONT><FONT SIZE=2><B>Amended Agreement</B></FONT><FONT SIZE=2>"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>2.2</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Authorization of Agreements</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The
execution and delivery of this Amendment and the performance of the Amended Agreement have been duly authorized by all necessary corporate action on the part of Borrower. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>2.3</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Binding Obligation</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Amendment
and the Amended Agreement are the legal, valid and binding obligation of Borrower, enforceable against it in accordance with their terms, except as enforcement may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>-1-</FONT></P>

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relating to or limiting creditors' rights generally or by equitable principles, and any instrument or agreement required hereunder or by the Amended Agreement, in each case, when executed and
delivered, will be similarly valid, binding and enforceable. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>2.4</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Incorporation of Representations and Warranties From Credit
Agreement</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties contained in Section&nbsp;5 of the Credit Agreement are true, correct and complete in all
material respects, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and
as of such earlier date. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>2.5</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Absence of Default</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No event has
occurred and is continuing or will result from the consummation of this Amendment that would constitute an Event of Default or a Default. </FONT></P>


<P><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>3.1</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Reference to and Effect on the Credit Agreement and the Other Loan
Documents</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;On
and after the Effective Date, each reference in the Credit Agreement to "this Agreement", "hereunder", "hereof", "herein" or words of like import referring to the
Credit Agreement, and each reference in the other documents entered pursuant to the Credit Agreement to the "Credit Agreement", "thereunder", "thereof" or words of like import referring to the Credit
Agreement shall mean and be a reference to the Amended Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;Except
as specifically amended by this Amendment, the Credit Agreement and the other documents entered pursuant to the Credit Agreement shall remain in full force and
effect and are hereby ratified and confirmed. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;The
execution, delivery and performance of this Amendment shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver
of any right, power or remedy of Administrative Agent or any Lender under the Credit Agreement or any of the other Loan Documents. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>3.2</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Headings</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Section and subsection
headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>3.3</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>California Law</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall
be governed by, and shall be construed and enforced in accordance with, the internal laws of the State of California, without regard to conflicts of laws principles. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>3.4</B></FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Counterparts; Effectiveness</I></B></FONT><FONT SIZE=2><B>.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature
pages are physically attached to the same document. This Amendment shall become effective as of September&nbsp;30, 2001 (the "</FONT><FONT SIZE=2><B>Effective Date</B></FONT><FONT SIZE=2>") upon
the execution of a counterpart hereof by Borrower and Required Lenders and receipt by Borrower and Administrative Agent of written or telephonic notification of such execution and authorization of
delivery thereof. </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2>-2-</FONT></P>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>IN WITNESS WHEREOF,</B></FONT><FONT SIZE=2> the parties hereto have caused this Second Amendment to Credit Agreement to be duly executed and delivered by their
respective officers thereunto duly authorized as of the date first written above. </FONT></P>

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<TD COLSPAN=3><FONT SIZE=2><B>EQUITY MARKETING, INC.</B></FONT><FONT SIZE=2>, as Borrower</FONT></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>LAWRENCE J. MADDEN</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name: Lawrence J. Madden<BR>
Title: Senior Vice President and Chief Financial Officer</FONT></TD>
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&nbsp;</FONT></TD>
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<TD COLSPAN=3><BR><FONT SIZE=2><B>BANK OF AMERICA, N.A.</B></FONT><FONT SIZE=2>, as Administrative Agent</FONT></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>KEN PURO</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name: Ken Puro<BR>
Title: Vice President</FONT></TD>
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&nbsp;</FONT></TD>
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<TD COLSPAN=3><BR><FONT SIZE=2><B>BANK OF AMERICA, N.A.</B></FONT><FONT SIZE=2>, as Lender, Issuing Lender and Swing Line Lender</FONT></TD>
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&nbsp;</FONT></TD>
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By:</FONT></TD>
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/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>DAVID J. STASSEL</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name: David J. Stassel<BR>
Title: Vice President</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>S-1</FONT></P>

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