Sylvester Stallone will receive a career achievement award at the 2010 Hollywood Film Festival, October 20th at the 14th annual fest’s awards gala at the Beverly Hilton.

Also at the gala, Morgan Freeman and business partner Lori McCreary of digital entertainment company Revelations Entertainment will be recognized as Hollywood innovators, and director Tom Hooper will be honored with a helming award.

“It is a privilege to honor and to celebrate Sylvester Stallone’s extraordinary talent and remarkable career, as well as the great innovative work of Morgan Freeman and Lori McCreary in the convergence of technology and filmmaking and the outstanding directing talent of Tom Hooper in his new film The King’s Speech” fest founder Carlos de Abreu said.