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• PHILIP MORRIS U. S. A. 120 PARK AVENUE, NEW YORK, N.Y. 10017 TELEPHONE (212) 880-5000 January Ms. Billie Jean King Future, Inc. 101 West 79th Street Penthouse 1B New York, New York 0024 Dear Billie Jean: • The purpose of this letter is to set forth the terms and conditions of the agreement between Philip Morris U.S.A., a division of Philip Morris Incorporated ("Philip Morris"), and Future, Inc. ("Future"), pursuant to which you will act as a consultant to Philip Morris in connection with Virginia Slims sponsorship of women's tennis in 1989 and 1990 (the "Sponsorship"). The terms and conditions of our agreement shall be as set forth herein below: 1. The "Term" of this agreement shall commence on January 1, 1989, and shall terminate December 31, 1990. 2. During the Term, you shall be available to Philip Morris for up to six (6) days per year during the Term hereof on mutually agreeable dates and locations throughout the world for media appearances, player seminars, and such other tennis-related educational, promotional and entertainment functions as Philip Morris may wish to conduct. For the purposes of this paragraph 2 and paragraph 6 herein, a period of four (4) hours shall be considered a "day." S 3. Additionally, you shall be available to the staff of Virginia Slims for telephone consultation on all matters covered by this agreement during the Term hereof. 4. Future agrees that, during the Term, you will use your best efforts, when participating in additional tennis-related promotional, media or entertainment functions on behalf of third parties, to mention and inform others, where appropriate and reasonable to do so under the circumstances, that you are involved with and are assisting in the over-all promotion and organization of the Sponsorship. MARLBORO BENSON & HEDGES MERIT VIRGINIA SLIMS PARLIAMENT LIGHTS PLAYERS SARATOGA CAMBRIDGE ALPINE MULTIFILTER

Future, Inc. January 19, 1989 Page 2 • • 5. As full compensation to Future for providing your foregoing services, Philip Morris agrees to pay to Future compensation in the total amount of US $60,000 per year, payable in two (2) equal installments on January 1 and July 1 of each year during the Term. All payments hereunder shall be made by check made out to the order of "Future, Inc." and mailed to the address of Future. 6. If Philip Morris desires to use your services in excess of six (6) days during the Term hereof, Future agrees to make available, on mutually agreeable dates and locations to Philip Morris, your services, and Philip Morris agrees to pay to Future additional compensation in the amount of US $10,000 for each day such services are required, with payment to be made on or before the day upon which you perform such services. 7. If Philip Morris should request that you travel for the purpose of attending seminars or other functions as required herein above, Philip Morris agrees to provide you at no cost with round trip first class air fare, hotel accommodations, meals and ground transportation required in connection with such trips. 8. It is acknowledged and agreed that Future and you shall have the status of an independent consultant, and you shall not, for any purpose whatsoever, be deemed an employee of Philip Morris. It is further understood and agreed that neither party shall have the right to bind the other to any third party hereunder, and neither Future nor you shall be authorized to negotiate or conclude any contract or agreement of any nature whatsoever on behalf of Philip Morris. 9. This agreement is the complete agreement between the parties, supersedes any prior oral or written agreement on such subject matter, and may not be amended except by a duly executed writing. A waiver by either party of any of the terms or conditions of this agreement, in one or more instances, shall not be deemed a general waiver or a waiver of any other term. 10. Any notice given under this agreement shall be sufficiently given if hand delivered or sent by prepaid registered mail to the address of the party stated at the beginning of this agreement, and if to PM, to the attention of Group Director, Marketing Promotions.

. Future, Inc. January 19, 1989 Page 3 If the foregoing accurately sets forth our understanding, please signify your acceptance and agreement by executing the enclosed copy of this letter and returning it to the undersigned. Sincerely, PHILIP MORRIS U.S.A. By:~ Title: ' S ACCEPTED AND AGREED AS OF THE DATE OF THIS LETTER: ra a c.3 tr ~ ~ cr ~