exhibit 10. 1 termination, settlement and release agreement this termination, settlement and release agreement ( this “ agreement ” ) is entered into this 9th day of march, 2009, by and among fx luxury, llc ( formerly known as fx luxury realty llc ), a delaware limited liability company ( “ fx luxury ” ), fx real estate and entertainment inc., a delaware corporation ( “ fxree ” and, together with fx luxury, the “ fx luxury parties ” ), elvis presley enterprises, inc., a tennessee corporation ( “ epe ” ) and muhammad ali enterprises llc, a california limited liability company ( “ mae ” and, together with epe, the “ licensor parties ” ). the fx luxury parties, epe and mae are each referred to herein as a “ party ” and, collectively, as the “ parties. ” recitals whereas, fx luxury and epe are parties to a license agreement, effective as of june 1, 2007, as amended as effective as of november 16, 2007 ( the “ epe license agreement ” ), and fx luxury and mae are parties to a license agreement, effective as of june 1, 2007, as amended effective as of november 16, 2007 ( the “ mae license agreement ” and, together with the epe license agreement, the “ license agreements ” ) ; and whereas, pursuant to ( i ) section 7. 08 of the epe license agreement, fx luxury was required, among other things, to pay epe a guaranteed minimum royalty for the calendar year ending december 31, 2008, of $ 9, 000, 000 by january 30, 2009 ( the “ epe royalty payment ” ), and additional guaranteed minimum royalty payments each calendar year thereafter for the term of the epe license agreement and ( ii ) section 6. 07 of the mae license agreement, fx luxury was required, among other things, to pay mae a guaranteed minimum royalty for the calendar year ending december 31, 2008, of $ 1, 000, 000 by january 30, 2009 ( the “ mae royalty payment ” ), and additional guaranteed minimum royalty payments each calendar year thereafter for the term of the mae license agreement ; and whereas, fx luxury has not made either the epe royalty payment or the mae royalty payment ; and whereas, pursuant to ( i ) section 23. 02 of the epe license agreement, epe has the right to terminate the epe license agreement upon written notice to fx luxury if, among other things