[Chapter 29: The Awkward Compensation Agreent]
As Eric scanned the crowded area, he noticed that the Ronkel family's residence to the west had beco deserted. Just three days after the release of Ho Alone, the Ronkel couple had hurriedly taken Stuart away from the promotional team, reportedly because soone had offered a hefty sum for Stuart to star in a comrcial.
While Eric was out of town, the news about this family had already started making headlines. Ho Alone had beco a massive hit, and in just a few days, Stuart had earned millions through various endorsents and comrcials. Reports also claid that the entire family had moved into a mansion in Beverly Hills.
Even though Eric hoped that the Ronkel couple would not be as money-hungry as Macaulay Culkin's parents of the past, the circumstances suggested that they were not very different from that couple. Eric could only wish that Stuart wouldn't follow Macaulay's path; after all, the sequel to Ho Alone still needed this bright kid. In the previous third installnt of Ho Alone, the box office had plumted from $170 million in the second film to just $30 million after Macaulay's departure.
Lost in thought as reporters crowded around him, soone eventually noticed Eric's plight and called the police, who then rescued him from the throng.
Driving to Columbia Pictures' headquarters with a crowd of followers, Eric's presence was quickly recognized by two receptionists. They were unaware of the complex emotions among Columbia's higher-ups regarding Ho Alone's box office success; they only knew that Eric was on the verge of becoming Hollywood's youngest billionaire. After notifying the president's office, the two girls eagerly tried to engage in conversation with Eric, hoping to catch the attention of this wealthy young man.
Eric happily flirted with the two attractive receptionists, even telling a few risque jokes that made them giggle uncontrollably.
Just as Eric chatted with the receptionists, he heard Cohen Blount's voice nearby. Turning around, he saw Cohen with his arms outstretched, and Eric warmly walked up to hug him.
"Mr. Blount, I didn't expect you to co down personally, you could have just sent soone to fetch ."
Cohen Blount chuckled, "What? Did you think this old man was going to interrupt your flirtation with the ladies?"
"Of course not," Eric quickly denied.
Cohen continued, "With Ho Alone achieving such impressive box office figures, it's only right I co to et you. Let's take care of business first before you start dating. A young person must prioritize their career."
Eric nodded in agreent, waving the pink perfud contat cards in his hand at the receptionists as he followed Cohen Blount into the elevator.
...
As they entered the VIP elevator, a petite receptionist turned to her friend and asked, "Milia, do you think Eric will ask out?"
Tall and blonde Milia leaned in closer and whispered, "Who knows? Maybe Eric will ask us both out at the sa ti; would you go for that?"
"What? No way... That's impossible!" The petite girl blushed as she imagined certain scenarios.
Milia suddenly laughed and said, "Alright, Lisa, stop dreaming. From Eric Williams' banter just now, it's clear he's a playboy. Together, we would just be left as scraps."
"How could that be? He's only eighteen!" Although Lisa just experienced Eric's flirtation, she still held a good impression of him. That's how the world works; if an average guy had teased them, security would have kicked him out, but a young, wealthy hunk instead made them feel chard.
"To be precise, he's an eighteen-year-old about to beco a multi-millionaire. Achieving such enormous success at such a young age is sothing neither of us could attain. And did you notice? When Mr. Blount left just now, he gave us a stern look, clearly a warning. So, Lisa, let's be realistic. Co to the club with tonight; I'll introduce you to two handso guys."
Disappointed, Lisa nodded but couldn't resist glancing towards the VIP elevator one last
ti.
...
In the Columbia Pictures president's office, Cohen Blount warmly invited Eric to sit on the sofa and personally retrieved a bottle of wine from the cabinet. "Eric, let's have a little toast to celebrate. Once Ho Alone finishes its run, I will definitely throw you a grand celebration party. This bottle of white wine cos from my vineyard in Burgundy, and it's the last one I have."
Eric expertly raised his glass and took a whiff. The amber liquid exuded a fresh pineapple
aroma.
Cohen Blount knew Eric's background and assud he had never encountered such top-notch wine before. Curious, he inquired, "What are your thoughts?"
Eric nodded and praised, "It's an excellent wine; it's not easy to create a pineapple fragrance from Burgundy grapes."
Cohen was sowhat surprised, "I didn't expect you had such knowledge about wine."
"I heard about it once," Eric replied honestly.
Cohen didn't press further. He raised his glass and said, "Then here's to the success of Ho Alone; cheers."
"Cheers."
After drinking, Cohen instructed his assistant to clear away the glasses, returning to his seat. "Eric, let's discuss business. Here are the box office numbers from last week for Ho Alone. Take a look."
Eric took the docunt and opened it. The sheet included not just Ho Alone's box office data but also figures for all the films currently in theaters. Ho Alone topped the chart with $27.55 million, while the second-place film, 17 Again, had only $13.12 million. Although that figure was impressive, it barely compared in light of Ho Alone's success.
"Eric, what I need to tell you next is sowhat awkward," Cohen said, straightening up, a hint of embarrassnt on his face. "There's sothing about this week's screening count for Ho Alone that requires your understanding."
Seeing Cohen's expression, Eric felt a bit uneasy but nodded for him to continue.
"According to our betting agreent, Columbia was supposed to increase the screening count to 2,000 this week. Unfortunately, because Ho Alone's box office had far exceeded Columbia's expectations, we weren't prepared sufficiently, resulting in only an increase of 500 screens this week."
Though Cohen's reasoning seed valid, Eric sensed sothing was off.
"So, Mr. Blount, what does Columbia plan to do?" Eric asked calmly.
"Eric, Columbia found our agreent to be of significant value. But this matter caught everyone off guard. Theater chains can't just leave screens empty to accommodate our deal, so we've put together a compensation agreent," Cohen explained.
A small warning siren flashed in Eric's mind. "A compensation agreent?"
"Yes, Eric, please don't worry. The original betting agreent will remain unchanged. Additionally, due to our underestimation causing loss, we will add an extra 100 screens starting next week, continuing until the film finishes its run. I believe this shows Columbia's sincerity," Cohen smiled.
Eric instinctively nodded. If that was the case, this compensation agreent could indeed be acceptable, yet he still felt sothing was amiss.
Seeing Eric nod, Cohen produced the prepared compensation agreent and pushed it across the table to him. "This is the compensation agreent, Eric. You can check it over, and if everything looks acceptable, just sign it."
Eric picked up the agreent and examined it. The agreent was brief, with only a few clauses, the language straightforward and seemingly free of contractual traps. However, Eric remained cautious. "Mr. Blount, may I show this to my lawyer first? If everything checks out, I
will return it signed."
"Of course, no problem," Cohen readily agreed. "Now, let's discuss the overseas distribution of Ho Alone. Given the film's current explosive popularity, the sooner it gets released overseas, the better the box office. If we miss the holiday season, we could see at least a 50% drop in overseas revenue. Therefore, we propose to secure Ho Alone at $16 million or 8% of the overseas box office share. What do you think?"
"Mr. Blount, 8% seems a bit low," Eric replied.
Cohen shook his head. "It's not low, Eric. After deducting local theater shares and high film
taxes, we would only net about 20%. You wouldn't be paying anything and yet would get 8% of the box office; that's quite reasonable."
Eric scoffed internally. What did he an by "not paying anything"? Without Ho Alone,
Columbia wouldn't have made $50 million in net profits from North Arican box office alone across any films in a year, and during all of 1988, fewer than 10 films would achieve a $50 million profit solely from North Arican box office. With just Ho Alone, Columbia's performance among the six studios would leap from the bottom to the top three. It was clear that Columbia stood to benefit significantly.
"I'm sorry, Mr. Blount. I need to think it over." Eric shook his head, rejecting the proposal. He wouldn't forfeit his rightful gains simply due to the lucrative betting agreent. In his view, what was rightfully his was his, and there was no room for discussion.
Seemingly anticipating Eric's answer, Cohen nodded. "Alright, Eric; take your ti to
consider. But please get back to soon."
...
As Eric left Cohen's office, he ran into Lester Reed, who was in charge of the Ho Alone
project.
"Hey, Lester, good morning."
Lester hadn't expected to run into Eric and looked a bit uncomfortable. "Hi, Eric,
congratulations on the success of Ho Alone.
"Thanks! You"re a part of it too, Lester. Since you oversaw the project, I imagine you'll
receive quite a hefty year-end bonus?"
He would be lucky to get a scolding, Lester mused silently, though his face betrayed none of
his thoughts, and he managed an awkward smile.
"By the way, Lester, could you tell where Ms. Pascal's office is? If it weren't for her recomnding , Ho Alone wouldn't have achieved such success so easily. I want to thank
her in person."
*****
spatreon/Sayonara816.
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