Medieval Attractions N.V - Page 120

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          fiscal year.  The agreement stated that the payment was to be               
          paid in return for services that MTNV provided to MANV regarding            
          the:                                                                        
               technique in marketing, promotion and publicity of a                   
               dinner tournament business, and for taking its                         
               representation to assist in fairs, conventions and                     
               other mass meetings relating to the business of M.A.                   
               [MANV], with enough powers and authorization to                        
               contract in the name of M.A., travel agency groups,                    
               company groups and others, always under the economical                 
               conditions marketed by M.A.                                            
          The payment was to be due “not later than one year after the                
          filing by M.A. [MANV] of its 1986/1987 Tax Return to the Internal           
          Revenue Service in the USA.”  MANV filed its 1986 Federal tax               
          return on June 7, 1988.                                                     
               A fax cover sheet dated June 22, 1989, from Onate to Bertha            
          Moreno at MANV/MDT stated:  “We are faxing you the Agreement                
          regarding the invoice of US $236,313.30 for Marketing Consulting            
          between Medieval Times and Medieval Attractions.”  Onate sent to            
          Mary Ann Powell at MDT/MANV a letter dated July 3, 1989, in which           
          Onate enclosed a copy of the marketing agreement for her files.             
          MDT/MANV paid to MSI/MTNV $236,313.30 by check dated July 3,                
          1989.  The check reflected an amount equal to 10 percent of MDT’s           
          profits after taxes as stated on MDT’s fiscal year 1986                     
          (December 1, 1986, to November 30, 1987) Federal tax return.                
          XI.  Commercial Paper                                                       
               During 1987, the U.S. Treasury Department announced its                
          intention to terminate several of the tax treaties that existed             
          between the United States and the Netherlands Antilles.  The                



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