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Name and title: John N. Turitzin, executive vice president and general counsel Age: 50 The company: More than 5,000 proprietary characters are at the heart of Marvel Entertainment Inc., a New York-based entertainment company and leading comic book publisher. It has four fields of focus: entertainment, licensing, publishing and toys. Marvel characters appear in films, television shows, videogames and in print. They are licensed in the United States and abroad for use in toys, games and action figures, promotions, collectibles and even snack foods. Spider-Man, X-Men, Elektra, The Hulk, Captain America and the Fantastic Four are some of the best-known Marvel “superheroes.” The publicly traded company has approximately 230 employees, augmented by a stable of freelance writers and artists who operate as independent contractors. Marvel anticipates 2005 revenues of between $385 million and $395 million. Turitzin’s tasks: “Our asset is our characters,” Marvel’s legal chief said, and his firm amasses a significant chunk of its revenues from licensing intellectual property. He explained that “in licensing, there is no cost of goods; the revenue is almost entirely profit.” Turitzin supervises the legal aspects of licensing to movie studios, publications, toy companies and other manufacturers. Marvel hires film studios and screenwriters; it recently licensed its Curious George figure to Universal Studios Inc. The GC oversees contracts and license terms, protects Marvel’s intellectual property from infringement and makes sure to avoid licensing conflicts. Turitzin nurtures retailer relationships and ensures that characters and storylines are depicted with consistency. He performed “a lot of setup work, like everyone else,” to implement Sarbanes-Oxley compliance, but said that attention to it now is “fairly routine.” He is “absolutely” a generalist, whose job “pulls together intellectual property, finance and litigation.” Reading comic books and getting to know the characters are essential requirements. Several weeks ago, Turitzin culminated an arrangement whereby most of Marvel’s toy manufacturing was licensed to Hasbro Inc. of Pawtucket, R.I., and he will continue to provide legal services to that enterprise. He is a “bit” involved with the overseas distribution of Marvel items, particularly in Hong Kong. Customs issues arise on occasion, most often in the European Union and Mexico. The legal team also oversees litigation, of which there has been “quite a lot over the years.” Litigation: A plethora of suits awaited Turitzin when he arrived at Marvel, many of which have been settled. An action filed by comic book pioneer Stan Lee, involving profit claims, was settled, as was a case in which Sony Pictures Entertainment contested certain rights to Spider-Man. A suit by Tribune Enterprises over a proposed TV series was resolved, and the issue of retailers’ rights to return Marvel books ultimately settled. In Marvel Comics v. Simon, 310 F.3d 280 (2d Cir. 2002), a writer/artist successfully terminated his grant of copyright for his character Captain America. Another intellectual property case, filed in November, centers around a role-playing computer game, “City of Heroes.” Its players can design superheroes that Marvel alleges too closely resemble its characters. Unique financing: Closing in September 2005, Turitzin helmed a unique film-financing deal arranged by Merrill Lynch and Ambac Assurance Corp. A special-purpose subsidiary was created for Marvel to borrow money to produce movies. Only the movie rights to 10 licensed Marvel characters would be jeopardized if the resulting films underperformed, and the company would retain all other rights. Combined with a distribution partnership with Paramount Pictures Inc., the arrangement allows Marvel to control the production of its own movies, “capturing the upside” without risking a substantial amount of company funds. As described by Turitzin, Marvel can now dip into a $500 million revolving credit line to “basically become a studio.” Legal team and outside counsel: The Marvel maven manages seven other lawyers, all based in New York, with an additional attorney in Los Angeles. Turitzin reports to Chief Executive Officer Isaac Perlmutter, the owner of approximately 28% of the firm. Marvel has maintained a long-standing relationship with Paul, Hastings, Janofsky & Walker, which serves as the firm’s principal outside counsel. Intellectual property litigation and securities matters get outsourced to Foley & Lardner, and Los Angeles firm Liner Yankelevitz Sunshine & Regenstreif performs Marvel’s studio-related legal work. Transactions are generally handled in-house, unless they involve financings. Turitzin or his deputy, Eli Bard, hire the external counsel. Route to present position: Following service as a partner at Paul Hastings, Turitzin assumed his present position at Marvel in March 2004. Beginning in 1985, he had partnered at Battle Fowler until its 2000 merger with Paul Hastings. Turitzin commenced his career with four years as an associate with Cahill Gordon & Reindel of New York. He graduated from Earlham College in 1976, earned a juris doctor degree in 1981 from New York University School of Law, and received a master’s degree in public affairs, also in 1981, from the Woodrow Wilson School at Princeton University. The Turitzin/Marvel connection dates to 1993, when he represented Perlmutter, who then owned a small toy company, and toy designer Avi Arad. Marvel Entertainment Group, then controlled by financier Ronald O. Perelman, was seeking greater control over its character-based toys. Perelman, with Perlmutter and Arad, formed Toy Biz Inc., the forerunner of Marvel Entertainment Inc. Turitzin later represented the firm in its two-year battle to deflect a takeover by mogul Carl Icahn. Arad remains on board alongside CEO Perlmutter, overseeing Marvel’s movies and television projects as the head of Marvel Studios. Personal: Turitzin and his wife, Barbara, are the parents of Allison, 15, and 12-year-old twins David and Emily. The Manhasset, N.Y., native quipped, “I intended to work in the federal government and wound up as a comic book lawyer. You can’t predict your career.” Last book and movie: Astonishing X-Men, Volume 1: Gifted, by Joss Whedon, John Cassaday (illustrator); and King Kong.

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