-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G+Kae2RNspF7UZDnI0fi4bXtY3JyDSiBYnCCup5iDxrGuRYb2RVPGDXD2qhmCZTm NFbpD59pBXhncVOiYVLLqg== 0000950144-96-000126.txt : 19960118 0000950144-96-000126.hdr.sgml : 19960118 ACCESSION NUMBER: 0000950144-96-000126 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960117 SROS: NONE GROUP MEMBERS: ALKI HOLDINGS II, INC. GROUP MEMBERS: BENNETT S. LEBOW GROUP MEMBERS: BGLS INC. GROUP MEMBERS: BROOKE GROUP LTD. GROUP MEMBERS: NEW VALLEY CORP GROUP MEMBERS: NEW VALLEY HOLDINGS, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SHOWBIZ PIZZA TIME INC CENTRAL INDEX KEY: 0000813920 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 480905805 STATE OF INCORPORATION: KS FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-39153 FILM NUMBER: 96504252 BUSINESS ADDRESS: STREET 1: PO BOX 152077 STREET 2: 4441 W AIRPORT FREEWAY CITY: IRVING STATE: TX ZIP: 75015 BUSINESS PHONE: 2142588507 MAIL ADDRESS: STREET 1: PO BOX 152077 CITY: IRVING STATE: TX ZIP: 75015 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NEW VALLEY CORP CENTRAL INDEX KEY: 0000106374 STANDARD INDUSTRIAL CLASSIFICATION: FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099] IRS NUMBER: 510255124 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: INTERNATIONAL PLACE STREET 2: 100 SOUTHEAST SECOND STREET CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 3055798000 MAIL ADDRESS: STREET 1: INTERNATIONAL PLACE STREET 2: 100 SE SECOND STREET CITY: MIAMI STATE: FL ZIP: 33131 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN UNION CORP/NY/ DATE OF NAME CHANGE: 19910516 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN UNION TELEGRAPH CO /NY/ DATE OF NAME CHANGE: 19880121 SC 13D/A 1 NEW VALLEY SCHEDULE 13D/A 1/16/96 1 OMB APPROVAL OMB NUMBER: 3235-0145 EXPIRES: OCTOBER 31, 1997 ESTIMATED AVERAGE BURDEN HOURS PER FORM......14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 9)* SHOWBIZ PIZZA TIME, INC. ------------------------ (Name of Issuer) COMMON STOCK, $0.10 PAR VALUE ----------------------------- (TITLE OF CLASS OF SECURITIES) 0008253881309 --------------- (CUSIP NUMBER) RICHARD J. LAMPEN, EXECUTIVE VICE PRESIDENT AND GENERAL COUNSEL --------------------------------------------------------------- NEW VALLEY CORPORATION ---------------------- 100 S.E. SECOND STREET, 32ND FLOOR ---------------------------------- MIAMI, FL 33131 (305) 579-8000 ------------------------------- (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) JANUARY 16, 1996 ---------------- (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box / /. Check the following box if a fee is being paid with the statement / /. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7). NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 2 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 2 OF 17 PAGES ------------- - -- Name of Reporting Person 1 S.S. or I.R.S. Identification No. of Above Person NEW VALLEY CORPORATION ------------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ ------------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only ------------------------------------------------------------------------------------------------------------------------- 4 Source of Funds* ------------------------------------------------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / ------------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization NEW YORK ------------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 609,519 Number of ---------------------------------------------------------------------------------------------------- Shares 8 Shared Voting Power Beneficially ---------------------------------------------------------------------------------------------------- Owned by Each 9 Sole Dispositive Power 609,519 Reporting Person ---------------------------------------------------------------------------------------------------- With 10 Shared Dispositive Power ------------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 609,519 ------------------------------------------------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / ------------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 4.9% ------------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person* CO -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 3 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 3 OF 17 PAGES ------------- - -- Name of Reporting Person 1 S.S. or I.R.S. Identification No. of Above Person ALKI HOLDINGS II, INC. --------------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ --------------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only --------------------------------------------------------------------------------------------------------------------------- 4 Source of Funds* --------------------------------------------------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / --------------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization DELAWARE --------------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 609,519 Number of ------------------------------------------------------------------------------------------------------ Shares 8 Shared Voting Power Beneficially ------------------------------------------------------------------------------------------------------ Owned by Each 9 Sole Dispositive Power 609,519 Reporting Person ------------------------------------------------------------------------------------------------------ With 10 Shared Dispositive Power --------------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 609,519 --------------------------------------------------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / --------------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 4.9% --------------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person* CO; HC ---------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 4 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 4 OF 17 PAGES ------------- - -- Name of Reporting Person 1 S.S. or I.R.S. Identification No. of Above Person NEW VALLEY HOLDINGS, INC. -------------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ -------------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------------------------------------------------- 4 Source of Funds* -------------------------------------------------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / -------------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization DELAWARE -------------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 609,519 Number of ----------------------------------------------------------------------------------------------------- Shares 8 Shared Voting Power Beneficially ----------------------------------------------------------------------------------------------------- Owned by Each 9 Sole Dispositive Power 609,519 Reporting Person ----------------------------------------------------------------------------------------------------- With 10 Shared Dispositive Power -------------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 609,519 -------------------------------------------------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / -------------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 4.9% -------------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person* CO; HC --------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 5 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 5 OF 17 PAGES ------------- - -- Name of Reporting Person 1 S.S. or I.R.S. Identification No. of Above Person BGLS INC. -------------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ -------------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------------------------------------------------- 4 Source of Funds* -------------------------------------------------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / -------------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization DELAWARE -------------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 609,519 Number of ----------------------------------------------------------------------------------------------------- Shares 8 Shared Voting Power Beneficially ----------------------------------------------------------------------------------------------------- Owned by Each 9 Sole Dispositive Power 609,519 Reporting Person ----------------------------------------------------------------------------------------------------- With 10 Shared Dispositive Power -------------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 609,519 -------------------------------------------------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / -------------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 4.9% -------------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person* CO; HC --------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 6 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 6 OF 17 PAGES ------------- - -- Name of Reporting Person 1 S.S. or I.R.S. Identification No. of Above Person BROOKE GROUP LTD. --------------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ --------------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only --------------------------------------------------------------------------------------------------------------------------- 4 Source of Funds* --------------------------------------------------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / --------------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization DELAWARE --------------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 609,519 Number of ------------------------------------------------------------------------------------------------------ Shares 8 Shared Voting Power Beneficially ------------------------------------------------------------------------------------------------------ Owned by Each 9 Sole Dispositive Power 609,519 Reporting Person ------------------------------------------------------------------------------------------------------ With 10 Shared Dispositive Power --------------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 609,519 --------------------------------------------------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / --------------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 4.9% --------------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person* CO; HC ---------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 7 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 7 OF 17 PAGES ------------- - -- Name of Reporting Person 1 S.S. or I.R.S. Identification No. of Above Person BENNETT S. LEBOW --------------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ --------------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only --------------------------------------------------------------------------------------------------------------------------- 4 Source of Funds* --------------------------------------------------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / --------------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization UNITED STATES --------------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 609,519 Number of ------------------------------------------------------------------------------------------------------ Shares 8 Shared Voting Power Beneficially ------------------------------------------------------------------------------------------------------ Owned by Each 9 Sole Dispositive Power 609,519 Reporting Person ------------------------------------------------------------------------------------------------------ With 10 Shared Dispositive Power --------------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 609,519 --------------------------------------------------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / --------------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 4.9% --------------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ---------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 8 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 8 OF 17 PAGES PRELIMINARY STATEMENT New Valley Corporation, ALKI Holdings II, Inc. ("ALKI"), New Valley Holdings, Inc., BGLS Inc., Brooke Group Ltd. and Bennett S. LeBow (collectively, the "New Valley Reporting Persons") hereby file jointly this Amendment No. 9 to supplement the Schedule 13D filed jointly by, among others, the New Valley Reporting Persons (other than ALKI) with the Securities and Exchange Commission on April 26, 1995, as previously amended by Amendments Nos. 1-8 thereto (as amended, the "Schedule 13D"), relating to the common stock, par value $.10 per share (the "Common Stock"), of Showbiz Pizza Time, Inc. ("Showbiz"). Unless otherwise defined herein, all terms used herein shall have the meanings ascribed to them in the Schedule 13D. Item 2 is hereby amended as follows: ITEM 2. IDENTITY AND BACKGROUND (a) ALKI, a Delaware corporation and an indirect wholly-owned subsidiary of New Valley, became a New Valley Reporting Person on or about December 26, 1995. (b),(c) ALKI was organized by New Valley on December 22, 1995 as an indirect wholly-owned subsidiary to hold, among other things, New Valley's equity interest in Showbiz. On December 26, 1995, New Valley transferred 711,519 shares of Common Stock to ALKI. A list of the directors and executive officers of ALKI is attached hereto as Exhibit J. The address of ALKI and its directors and executive officers is 103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19810. Item 5 is hereby amended as follows: ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of the date hereof, the New Valley Reporting Persons beneficially own an aggregate of 609,519 shares of Common Stock (the "Shares"), which constitute approximately 4.9% of the 12,215,177 shares of Common Stock outstanding as of September 29, 1995 (as reported in Showbiz's quarterly report on Form 10-Q for the quarterly period ended September 30, 1995). (b) As of the date hereof, the New Valley Reporting Persons exercise sole voting and dispositive power over the Shares. (c) The New Valley Reporting Persons effected the following transactions in the Common Stock during the past sixty (60) days:
Trade Date Nature of Transaction Quantity Price Per Share($) ---------- --------------------- -------- ----------------- 12/07/95 NASDAQ-Disposition* 50,000 12.50 01/02/96 NASDAQ-Disposition** 7,500 12.56 01/02/96 NASDAQ-Disposition** 2,500 12.50 01/03/95 NASDAQ-Disposition** 10,000 12.50 01/04/96 NASDAQ-Disposition** 10,000 12.37 01/09/96 NASDAQ-Disposition** 10,000 12.37 01/09/95 NASDAQ-Disposition** 2,000 12.37 01/11/96 NASDAQ-Disposition** 10,000 12.37 01/16/96 NASDAQ-Disposition** 10,000 12.37 01/16/95 NASDAQ-Disposition** 10,000 12.37 01/16/96 NASDAQ-Disposition** 10,000 12.43 01/16/96 NASDAQ-Disposition** 5,000 12.56 01/16/96 NASDAQ-Disposition** 5,000 12.56 01/16/96 NASDAQ-Disposition** 5,000 12.43 01/16/96 NASDAQ-Disposition** 5,000 12.37
* By New Valley ** By ALKI 9 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 9 OF 17 PAGES (e) As of January 16, 1996, the New Valley Reporting Persons ceased to be the beneficial owners of more than 5% of the Common Stock. Item 7 is hereby amended as follows: ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit J: Executive Officers and Directors of ALKI Holdings II, Inc. Exhibit K: Termination Agreement dated as of December 7, 1995, between New Valley Corporation and Canyon Partners Incorporated. Exhibit L: Joint Filing Agreement among the New Valley Reporting Persons dated the date hereof. 10 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 10 OF 17 PAGES SIGNATURE After reasonable inquiry and to the best of the undersigned's knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: January 17, 1996 NEW VALLEY CORPORATION By: /s/ Gerald E. Sauter ------------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer ALKI HOLDINGS II, INC. By: /s/ Gerald E. Sauter ------------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer NEW VALLEY HOLDINGS, INC. By: /s/ Gerald E. Sauter ------------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer BGLS INC. By: /s/ Gerald E. Sauter ------------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer BROOKE GROUP LTD. By: /s/ Gerald E. Sauter -------------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer BENNETT S. LEBOW By: /s/ Bennett S. LeBow ------------------------------------- 11 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 11 OF 17 PAGES EXHIBIT INDEX
Sequentially Numbered Page Exhibit No. Title: on Which Exhibit Begins: - ----------- ------ ---------------------------- J Executive Officers and Directors of ALKI p. 12 Holdings II, Inc. K Termination Agreement dated as of p. 14 December 7, 1995, between New Valley Corporation and Canyon Partners Incorporated L Joint Filing Agreement among the New Valley p. 16 Reporting Persons dated the date hereof.
12 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 12 OF 17 PAGES EXHIBIT J: 13 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 13 OF 17 PAGES EXHIBIT J Executive Officers and Directors of ALKI Holdings II, Inc.
Name: Position ----- ------------------------------------------ Bennett S. LeBow Chairman of the Board, President and Chief Executive Officer Gerald E. Sauter Director, Vice President, Chief Financial Officer and Treasurer Howard M. Lorber Director Marc N. Bell Secretary
14 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 14 OF 17 PAGES EXHIBIT K: 15 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 15 OF 17 PAGES CANYON PARTNERS INCORPORATED 9665 WILSHIRE BOULEVARD SUITE 200 BEVERLY HILLS, CALIFORNIA 90212 December 7, 1995 Mr. Bennett S. LeBow Chairman of the Board and Chief Executive Officer NEW VALLEY CORPORATION 100 S. E. Second Street Miami, Florida 33131 Dear Mr. LeBow: In accordance with our understanding, this letter terminates the Letter Agreement dated March 15, 1995 (the "Agreement"), between Canyon Partners Incorporated ("Canyon") and New Valley Corporation and its affiliates and affiliated group (collectively, the "Company") as of the date hereof in all respects except as follows: The provisions of Section II (concerning compensation), Section V (concerning governing law), Section VIII (concerning confidentiality/advice), Section XI (concerning termination) and Exhibit A (concerning indemnification) survive termination of this Agreement. The Company's obligations under Exhibit A are understood to include the costs and expenses incurred by and to be incurred by Canyon and Joshua S. Friedman in the Kansas action filed by Michael Magusiak relating to the election of Mr. Friedman as a director of Showbiz Pizza Time, Inc. ("Showbiz"); provided, however, that the Company's obligation under Exhibit A is intended to supplement any entitlements that the Indemnified Parties (as defined in Exhibit A) including, without limitation, Joshua S. Friedman, as a director of Showbiz, may have to make claims against Showbiz for indemnification and advancement of expenses; and it is understood that the Company's obligation under Exhibit A shall only be applicable to the extent Showbiz fails to provide indemnification or advancement of expenses on a timely basis and to the extent any amounts indemnified against or advanced are not satisfied by insurance, and that if the Company pays any amounts pursuant hereto, it shall be subrogated to Indemnified Parties' rights, if any, against Showbiz and with respect to any insurance. Prior to making any claim against the Company, Indemnified Parties shall make a written request for indemnification or advancement from Showbiz, if appropriate. If the foregoing correctly reflects our understanding, please so indicate by signing and returning to the undersigned the enclosed copy of this letter. Very truly yours, CANYON PARTNERS INCORPORATED By: /s/ R. Christian B. Evensen AGREED TO: NEW VALLEY CORPORATION on behalf of itself and its affiliates By: /s/ Howard M. Lorber -------------------- President 16 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 16 OF 17 PAGES EXHIBIT L: 17 SCHEDULE 13D CUSIP NO. 0008253881309 PAGE 17 OF 17 PAGES EXHIBIT L Joint Filing Agreement (pursuant to Rule 13d-1(f)(1) under the Securities and Exchange Act of 1934, as amended) Each of the undersigned hereby agrees to be included in the filing of Amendment No. 9 to the Schedule 13D dated April 26, 1995 and any subsequent amendments hereto, relating to the shares of Common Stock, $.10 par value per share, of Showbiz Pizza Time, Inc. beneficially owned by each of the undersigned. January 17, 1996 NEW VALLEY CORPORATION By: /s/ Gerald E. Sauter ---------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer ALKI HOLDINGS II, INC. By: /s/ Gerald E. Sauter ---------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer NEW VALLEY HOLDINGS, INC. By: /s/ Gerald E. Sauter ---------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer BGLS INC. By: /s/ Gerald E. Sauter ---------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer BROOKE GROUP LTD. By: /s/ Gerald E. Sauter ---------------------------------- Name: Gerald E. Sauter Title: Chief Financial Officer BENNETT S. LEBOW By: /s/ Bennett S. LeBow ---------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----