LUCILLE BALL and DESI ARNAZ Lucy and Desi sell Desilu stock to the film editor of I Love Lucy Partly Printed Contract signed: "Desi Arnaz" and "Lucille Ball", 2p, 8½x11, separate sheets. Los Angeles, California, 1958 May 22.

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Lucy and Desi sell Desilu stock to the film editor of I Love Lucy
Partly Printed Contract signed: "Desi Arnaz" and "Lucille Ball", 2p, 8½x11, separate sheets. Los Angeles, California, 1958 May 22. Contract in letter form to Daniel Cahn, Desilu Productions Inc., Los Angeles. Also signed: "Daniel Cahn". Begins: "This will confirm the following understanding and agreement between us with reference to your rights and obligations with respect to Class B common shares of Desilu Productions Inc. which you are hereupon purchasing from us." In paragraph 1, Cahn agrees to sell the shares he is buying from Lucy and Desi if requested to do so by them "to such person, firm or other corporation for the same consideration per share...and upon the same terms and conditions upon which we shall be obligated to sell or exchange our shares of common stock...." He also agrees, in paragraph 2, that he "will not sell or exchange all or any part of your shares of Class B common stock to any person, firm or corporation other than Desilu Productions Inc., without first obtaining our written consent." Paragraph 3: "Notwithstanding the foregoing provisions of this agreement, each and all of your rights under this agreement shall terminate forthwith in the event that your employment by Desilu Productions Inc. shall terminate or expire." Cahn has signed beneath the statement: "I hereby consent to and approve each and all of the terms of the agreement set forth in the preceding letter." Comedienne LUCILLE BALL (1911-1989) and her husband, Cuban bandleader DESI ARNAZ (1917-1986) had formed Desilu, which became one of the world's largest television production companies, to produce their hilarious television series, I Love Lucy (1951-1957), after CBS had denied Lucy's request that her husband play her spouse on the show. The couple rose to national recognition with I Love Lucy, which became a national institution and the first of a new variety of programming, the situation comedy. Adapted from My Favorite Husband, Ball's successful radio show, I Love Lucy ranked in the top three during its original six-year run, and Lucy won Emmy Awards in 1952 and 1955. In 1957, the year after they signed this document, Lucy, who was Vice President of Desilu, and Desi, the company's President, sold the rerun rights to I Love Lucy to CBS Films for $5 million. They used the money to help Desilu Productions purchase the RKO motion-picture lot, where both had worked as actors years before. With their expanded facilities, the couple produced such successful programs as Our Miss Brooks, The Untouchables, The Danny Thomas Show, Mission Impossible and Star Trek. In 1960, when Lucy and Desi divorced, they divided Desilu's assets in half; two years later, Lucy bought out Desi for $3 million. DANIEL (DANN) CAHN was Film Editor for movies and numerous television series including I Love Lucy, Our Miss Brooks, Make Room for Daddy, The Beverly Hillbillies, My Mother the Car and Police Woman, In 2000, Daniel Cahn, A.C.E., was presented with the Career Achievement Award from the American Cinema Editors, who annually present the "Eddie" award to outstanding achievements in film editing. Lightly creased, light horizontal crease underlines Ball's signature. Staple holes at upper left corners, light black marks at blank right margin of first page. Fine condition.

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