- 28 -
1995, Medieval Times had not initiated any type of legal
proceeding against the Excalibur in relation to King Arthur's.
IV. Contracts
Before the Florida castle opened, the Eurotor shareholders
wanted assurances that they would be compensated for their
assistance in the development of Medieval Times. Allen drafted
an agreement, dated January 24, 1983, between MTNV and Eurotor
and TM, with Eurotor and TM referred to collectively as Eurotor.
The agreement required that Eurotor open an office in Florida and
provide management and personnel to assist with the construction
and operation of the Florida castle. MTNV agreed to compensate
Eurotor with payments of 2 percent of the total estimated cost of
the facility (excluding financing costs) during both the creation
and development phase of building the castle (for a total of
4 percent) and 50 cents per customer during the operational phase
of the castle. The agreement stated that it was to be in effect
for a period of 10 years from the date of the agreement. The
agreement did not refer to any other fee agreements. The
agreement was signed by A. Gelabert for Eurotor, Climent for TM,
and Allen for MTNV. The agreement did not mention or refer to a
franchise.
Prior to drafting the January 24, 1983, contract, Allen had
written a list of items that he needed to include in the
document. His notes did not contain a reference to any other
Page: Previous 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 NextLast modified: May 25, 2011