Exhibit4.12

WATERFORD WEDGWOOD PLC

SIR ANTHONY O'REILLY

- and-

MR PETER JOHN GOULANDRIS

RELATIONSHIP AGREEMENT

WILLIAM FRY Solicitors Fitzwilton HouseWilton Place Dublin 2

002542.0201.BMC

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TABLE OF CONTENTS

|     |  |                              |  |               |  |  |  |  |  |  |
|-----|--|------------------------------|--|---------------|--|--|--|--|--|--|
| 1.  |  | **DEFINITIONS**              |  |   3 |
| 2.  |  | **EFFECTIVEDATE**            |  |   5 |
| 3.  |  | **UNDERTAKINGS**             |  |   5 |
| 4.  |  | **DIRECTORCONFLICTS**        |  |   5 |
| 5.  |  | **ENFORCEMENT**              |  |   6 |
| 6.  |  | **TERMINATION**              |  |   6 |
| 7.  |  | **MODIFICATION**             |  |   6 |
| 8.  |  | **SEVERABILITY**             |  |   6 |
| 9.  |  | **COUNTERPARTS**             |  |   6 |
| 10. |  | **CONSTRUCTION**             |  |   6 |
| 11. |  | **CAPTIONS**                 |  |   7 |
| 12. |  | **GOVERNINGLAW**             |  |   7 |
| 13. |  | **NOTICE**                   |  |   7 |
| 14. |  | **CONFLICT ORINCONSISTENCY** |  |   7 |
|     |

2

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THIS AGREEMENT is made on 14December 2004

BETWEEN:

|  | WATERFORDWEDGWOOD plc, a Public Limited Company registered in Irelandunder number 11861 whose registered office is at Kilbarry,Waterford, Ireland (hereinafter referred to as the"Company") |
|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | SIRANTHONY O'REILLY of Lissadell, Lyford Cay, Nassau,Bahamas (hereinafter referred to as "Sir AnthonyO'Reilly") |
|--|-----------------------------------------------------------------------------------------------------------------|

- and -

|  | MR PETER JOHN GOULANDRIS of Sea Saga,Edgewater Drive, Lyford Cay, Nassau, Bahamas (hereinafter referredto as "Mr Goulandris") |
|--|-------------------------------------------------------------------------------------------------------------------------------|

WHEREAS:

A.    The Company has at the dateof this Agreement an authorised share capital of€210,000,000 divided into 3,500,000,000 ordinary shares of€0.06 each, of which 996,987,229 are in issue and fullypaid up.

B.    The Company proposes to raise up to€100,000,000 (before commissions and expenses) by means ofthe issue of the Rights Issue Units (as defined below) on the terms tobe set out in the Listing Particulars (as defined below).

C.    The Company must comply with the Listing Rules (as definedbelow), which require the Company to be capable at all times ofcarrying on its business independently of any Controlling Shareholder(as defined below), including any Associate (as defined below) thereof,and all transactions and relationships between the Company and anyControlling Shareholder or Associate thereof to be at arm'slength and on a normal commercial basis.

D.    Each of SirAnthony O'Reilly and Mr Goulandris may become a ControllingShareholder (as defined below) following completion of the Underwriting(as defined below).

E.    The Company, Sir AnthonyO'Reilly and Mr Goulandris have entered into this Agreement forthe purposes of the Listing Rules, including in particular paragraphs3.12 and 3.13 of the Listing Rules.

NOW IN CONSIDERATIONOF Sir Anthony O'Reilly and Mr Goulandris agreeing to enter intocertain undertakings to the Company upon and subject to the terms andconditions of this Agreement, and in consideration of the receipt ofthe sum of €1.00 by each of the parties hereto from eachof the other parties hereto (the receipt of which is herebyacknowledged) and for other valuable consideration the sufficiency ofwhich is hereby acknowledged, IT IS HEREBY AGREED ASFOLLOWS:

|          |             |
|----------|-------------|
| 1.  | Definitions |

|        |                                                                                                                    |
|--------|--------------------------------------------------------------------------------------------------------------------|
|   | In this Agreement the following expressionsshall have the following meanings unless the context otherwiserequires: |

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|  |           |                                                                                                          |
|--|-----------|----------------------------------------------------------------------------------------------------------|
|  | (a)  | "Articles",the Articles of Association of the Company for the time being and asamended from time totime; |

|  |           |                                                                                                                                                          |
|--|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | "Associate",the meaning given to such expression in paragraphs 11.1(d) and (e) ofthe Listing Rules (for the time being and as amended from time totime); |

|  |           |                                                                                        |
|--|-----------|----------------------------------------------------------------------------------------|
|  | (c)  | "Board",the Board of Directors of the Company for the time being and from timeto time; |

|  |           |                                                                                                                                                           |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (d)  | "ControllingShareholder", the meaning given to such expression inparagraph 3.13 of the Listing Rules (for the time being and as amendedfrom time totime); |

|  |           |                                                                                                                      |
|--|-----------|----------------------------------------------------------------------------------------------------------------------|
|  | (e)  | "CurrentRelationship Directors", Sir Anthony O'Reilly, MrGoulandris, Lady Chyrss O'Reilly and Mr Tony O'Reilly,Jnr.; |

|  |           |                                                                                   |
|--|-----------|-----------------------------------------------------------------------------------|
|  | (f)  | "Directors",the Directors of the Company for the time being and from time totime; |

|  |           |                                                                                                                                                              |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (g)  | "Group",the Company and its subsidiaries and subsidiary undertakings for thetime being and from time to time and "member of theGroup" means any one of them; |

|  |           |                                                                                                |
|--|-----------|------------------------------------------------------------------------------------------------|
|  | (h)  | "Holding",the interest of the Principal Shareholders in the equity share capitalof theCompany; |

|  |           |                                                                                                                                                                                                                                                           |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (i)  | "IncomeShares", non-voting shares of nominal value Stg 1p each inthe capital of Waterford Wedgwood UK plc which, when issued with andtied to an Ordinary Share, entitle holders of Stock Units to elect toreceive dividends paid from UK-sourced profits; |

|  |           |                                                                                                                                                                              |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (j)  | "IndependentBoard", for the purposes of each particular determinationto be made by the Board for the purposes of Clauses 3 and 4 of thisAgreement, the IndependentDirectors; |

|  |           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (k)  | "IndependentDirectors", now the Directors other than the CurrentRelationship Directors and, on an ongoing basis the Directors otherthan the Current Relationship Directors and any Director connected toone or both of the Principal Shareholders within the meaning of Section26 of the Companies Act 1990 (as amended by Section 76 of the CompanyLaw Enforcement Act 2001) and any Director who has a significant anddirect business relationship with either or both of the PrincipalShareholders which, in the reasonable opinion of the Independent Board(excluding also the Director whose relationship is being considered),would materially interfere with the exercise by him/her of independentjudgment on suchmatter; |

|  |           |                                                         |
|--|-----------|---------------------------------------------------------|
|  | (l)  | "Irish StockExchange", The Irish Stock ExchangeLimited; |

|  |           |                                                                                                                                                                              |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (m)  | "ListingParticulars", the listing particulars for the purposes ofthe Rights Issue relating to the Company and the Group, as required bythe Regulations and the ListingRules; |

|  |           |                                                                                                                                                                                            |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (n)  | "ListingRules", the listing rules of the Irish Stock Exchangeand/or, where appropriate, the listing rules of the UK ListingAuthority, as they may be varied and amended from time to time; |

|  |           |                                                        |
|--|-----------|--------------------------------------------------------|
|  | (o)  | "London StockExchange", The London Stock Exchange plc; |

|  |           |                                                                                                  |
|--|-----------|--------------------------------------------------------------------------------------------------|
|  | (p)  | "OrdinaryShares", ordinary shares of nominal value€0.06 each in the capital of the Company; |

|  |           |                                                                 |
|--|-----------|-----------------------------------------------------------------|
|  | (q)  | "PrincipalShareholders", Sir Anthony O'Reilly and MrGoulandris; |

|  |           |                                                                                                                                                                    |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (r)  | "Regulations",the European Communities (Stock Exchange) Regulations 1984 and theEuropean Communities (Transferable Securities and Stock Exchange)Regulations 1992; |

|  |           |                                                                                                                                                                                             |
|--|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (s)  | "RightsIssue", the issue of 1,661,645,381 Stock Units to holdersof Stock Units on the basis of 5 Rights Issue Units for every 3 StockUnits held announced by the Company on 21 October2004; |

|  |           |                                                                                          |
|--|-----------|------------------------------------------------------------------------------------------|
|  | (t)  | "Rights IssueUnits", 1,661,645,381 Stock Units to be issued pursuant tothe Rights Issue; |

|  |           |                                                                                                                        |
|--|-----------|------------------------------------------------------------------------------------------------------------------------|
|  | (u)  | "StockExchanges", together the Irish Stock Exchange and theLondon Stock Exchange and either of them a "StockExchange"; |

|  |           |                                                                         |
|--|-----------|-------------------------------------------------------------------------|
|  | (v)  | "StockUnit", one Ordinary Share and one Income Share, which aretwinned; |

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|  |           |                                                                                                                                                                                                                         |
|--|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (w)  | "UKLA",or "UK Listing Authority", the FinancialServices Authority acting in its capacity as the competent authorityfor the purposes of Part VI of the Financial Services and Markets Act2000 of the United Kingdom; and |

|  |           |                                                                                                                                                                                                                  |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (x)  | "Underwriting",the underwriting of the Rights Issue in accordance with the terms ofthe conditional Underwriting Agreement dated 21 October 2004 betweenthe Company, Birchfield Holdings Limited and J&EDavy. |

|          |               |
|----------|---------------|
| 2.  | EffectiveDate |

|  |           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (a)  | The provisions of thisAgreement shall come into effect on the date that either or both of thePrincipal Shareholders becomes a Controlling Shareholder of the Companypursuant to the Rights Issue and shall have no effect in the periodprior to that date. If such event has not occurred on or before 28February 2005 or such later date as may be agreed, in writing, betweenthe parties (being in any event no earlier than the date upon which thePrincipal Shareholder(s) would, if required, subscribe for Rights IssueUnits pursuant to the Underwriting), this Agreement shall terminate andbe of no further effect. |

|  |           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | Notwithstanding any other provision ofthis Agreement, nothing in this Agreement shall require the PrincipalShareholders to abstain, or procure the abstention, from voting, forthe avoidance of doubt in their capacity as Shareholders in the Companyonly, the Stock Units attributable to the Holding in respect of theordinary resolution to be proposed at an Extraordinary General Meetingof the Company proposed to be held on 10 January 2005 provided alwaysthat the Principal Shareholders will comply with the provisions ofChapter 11 of the Listing Rules and will so demonstrate to thesatisfaction of the Irish Stock Exchange and the UKLA as required,prior to taking any action in accordance with this Clause2(b). |

|          |              |
|----------|--------------|
| 3.  | Undertakings |

|        |                                                                                                                                                                           |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Each of the Principal Shareholders herebyundertakes to the Company, from the time when either of them becomes aControlling Shareholder pursuant to the Rights Issue,that: |

|  |           |                                                                                                                                                                                                                                                           |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (a)  | he shall exercise, or procurethe exercise of, the voting rights in the Company attributable to theHolding so as to ensure that the Company and/or the Group is capable atall times of carrying on its business independently of him and/or hisAssociates; |

|  |           |                                                                                                                                                                                            |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | all transactions andrelationships between him and/or any entity interested in the Holdingand/or his Associates and the Group are conducted at arm's lengthand on a normal commercialbasis; |

|  |           |                                                                                                                                                                                                                                                                        |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (c)  | he will abstain, or procurethe abstention, from voting the Stock Units attributable to the Holdingin general meetings of the Company in respect of any contract orarrangement in which, in the reasonable opinion of the IndependentBoard, he has a material interest; |

|  |           |                                                                                                                                                                                                                                              |
|--|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (d)  | he will not exercise, or procure theexercise of, the voting rights in the Company attributable to theHolding in favour of any amendment to the Articles which would beinconsistent with, or in violation of, the terms of this Agreement;and |

|  |           |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (e)  | he will procure that, withinseven days of becoming aware of a significant acquisition opportunityof a non-publicly quoted company in the luxury crystal and ceramicsbusinesses, the Company will be provided with notice of that investmentopportunity and he and his Associates will not pursue such acquisitionopportunity if within a period of five business days the Companynotifies him of its intention to take up such acquisitionopportunity. |

|          |                    |
|----------|--------------------|
| 4.  | Director Conflicts |

Each of the parties to this Agreement hereby undertakes to procurethat during the term of thisAgreement:

|  |           |                                                                                                                                                                                                     |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (a)  | in respect of any Boardresolution relating to any transaction between any member of the Groupand either or both of the Principal Shareholders, no member of theBoard may exercise a vote if he/she: |

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|  |           |                                    |
|--|-----------|------------------------------------|
|  | (i)  | is a CurrentRelationship Director; |

|  |            |                                                                                                                                                                                          |
|--|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (ii)  | isconnected to one or both of the Principal Shareholders within themeaning of Section 26 of the Companies Act 1990 (as amended by Section76 of the Company Law Enforcement Act 2001); or |

|  |             |                                                                                                                                                                                                                                                                                                                                                                                         |
|--|-------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (iii)  | has a significant and directbusiness relationship with either or both of the Principal Shareholderswhich, in the reasonable opinion of the Independent Board (excludingthose members who fall within paragraphs (i) and (ii) and the directorwhose relationship is being considered), would materially interferewith the exercise by him/her of independent judgment on such matter;and |

|  |           |                                                                                                                                                    |
|--|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | the requirements of theListing Rules in respect of Controlling Shareholders, insofar as theyrelate to the Principal Shareholders, be compliedwith. |

|          |             |
|----------|-------------|
| 5.  | Enforcement |

|        |                                                                                                                                                                                                                                                                                                                                      |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Each of the Principal Shareholders and theCompany agree that, if at any time hereafter it proves necessary toenforce any of the provisions of this Agreement, the decision as to anysuch enforcement shall be taken at a meeting of the Board (or acommittee of the Board) comprised solely, in either case, ofIndependentDirectors. |

|          |             |
|----------|-------------|
| 6.  | Termination |

|  |           |                                                                                                   |
|--|-----------|---------------------------------------------------------------------------------------------------|
|  | (a)  | Theprovisions of this Agreement shall terminate, without the need for anyfurther or other action: |

|  |           |                                                                                                                       |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------|
|  | (i)  | if both ofthe Principal Shareholders cease to be Controlling Shareholders underthe provisions of the Listing Rules;or |

|  |            |                                                                                                                     |
|--|------------|---------------------------------------------------------------------------------------------------------------------|
|  | (ii)  | if the Company ceases to beadmitted to the Official Lists of the Irish Stock Exchange and theLondon Stock Exchange. |

|  |           |                                                                                                                                                                                         |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | The Companyshall be entitled to terminate this Agreement if at any time during theterm of this Agreement the Listing Rules are amended so as to obviatethe necessity for thisAgreement. |

|          |              |
|----------|--------------|
| 7.  | Modification |

|        |                                                                                                                                                                             |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | No modification of any provision of thisAgreement shall be binding unless the same shall be evidenced inwriting duly executed by or on behalf of each of the partieshereto. |

|          |              |
|----------|--------------|
| 8.  | Severability |

|        |                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | If at any time any one or more of the provisionsof this Agreement or any part thereof is or becomes invalid, illegal orunenforceable in any respect under any law, the validity, legality andenforceability of the remaining provisions shall not in any way beaffected or impaired thereby and the parties agree that, in suchcircumstances, full effect shall be given to such provision in thereduced or amended form. |

|          |              |
|----------|--------------|
| 9.  | Counterparts |

|        |                                                                                                                                                                                                                   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | This Agreement may be executed in any number ofcounterparts, each of which when executed and delivered shallconstitute an original and all such counterparts together shallconstitute one and the sameinstrument. |

|           |              |
|-----------|--------------|
| 10.  | Construction |

|  |           |                                                                                                                                                                                                                                                                                     |
|--|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (a)  | Anyreference to any provision of any legislation shall include anymodification, re-enactment or extension thereof. Any reference to anyprovision of any legislation shall be a reference to legislation of theRepublic of Ireland unless the context clearly indicates thecontrary. |

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|  |           |                                                                                                                                                                                                                                                     |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | Words such as"hereunder","hereto", "hereof"and "herein" and other words commencing with"here" shall, unless the context clearlyindicates to the contrary, refer to the whole of this Agreement and notto any particular clause or paragraphthereof. |

|  |           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (c)  | Save as otherwise providedherein, any reference to a clause, paragraph or sub-paragraph shall bea reference to a clause, paragraph or sub-paragraph, as the case maybe, of this Agreement and any reference in a clause or paragraph to aparagraph or sub-paragraph shall be a reference to a paragraph orsub-paragraph of the clause or paragraph in which the reference iscontained, unless it appears from the context that a reference to someother provision is intended. |

|  |           |                                                                                                                                                                                                                           |
|--|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (d)  | Exceptwhere the context otherwise requires, words denoting the singularinclude the plural and vice versa, words denoting any one genderinclude all genders and words denoting persons include corporations andvice versa. |

|           |          |
|-----------|----------|
| 11.  | Captions |

|        |                                                                                                                                                                                                 |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | The captions to the clauses of this Agreementare inserted for convenience of reference only and shall not beconsidered a part of or affect the construction or interpretation ofthis Agreement. |

|           |               |
|-----------|---------------|
| 12.  | Governing Law |

|        |                                                                                                                                                                     |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | This Agreement shall in all respects (includingthe formation thereof and performance thereunder) be governed by andconstrued in accordance with the laws ofIreland. |

|           |        |
|-----------|--------|
| 13.  | Notice |

|  |           |                                                                                                                                                                                                                                                                                                                                                       |
|--|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (a)  | Anynotice or other communication required or permitted to be given or madehereunder to a party hereto shall be delivered or sent by letter to theaddress listed after his or its name herein or to such other address assuch party hereto may from time to time notify to the other partieshereto in writing in accordance with the provisionshereof. |

|  |           |                                                                                                                                                                                                                                                                                                       |
|--|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | (b)  | Any notice or othercommunication required or permitted to be given or made hereunder shallbe validly given or made if delivered personally or despatched byprepaid internationally recognised courier service or by prepaid letterpost addressed as aforesaid and shall be deemed to be given ormade: |

|  |           |                                                                   |
|--|-----------|-------------------------------------------------------------------|
|  | (i)  | delivered by hand or bycourier – at the time of delivery;or |

|  |            |                                                                                        |
|--|------------|----------------------------------------------------------------------------------------|
|  | (ii)  | sent by post – onehundred and twenty hours after the same shall have beenposted. |

|           |                           |
|-----------|---------------------------|
| 14.  | Conflict or Inconsistency |

|        |                                                                                                                                                                         |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | In the case of any conflict or inconsistencybetween the provisions of this Agreement and the provisions of theArticles, the provisions of this Agreement shall prevail. |

IN WITNESS whereof this Agreement has been entered into theday and year first herein written.

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|                                                      |  |                                                                                                                                                            |  |  |  |  |
|------------------------------------------------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|
| SIGNED, SEALED ANDDELIVERED                          |  |                                                                                                                                                       |
| by the said SIR ANTHONYO'REILLY                      |  | AnthonyO'Reilly                                                                                |
| in the presence of:                                  |  | SirAnthony O'Reilly                                                                                                                                        |
| Pauline O'Donovan 30Herbert Street Dublin 2Solicitor |  | PaulineO'Donovan                        |
|                                                 |  | Witness                                                                                                                                                    |
| SIGNED, SEALED ANDDELIVERED                          |  |                                                                                                                                                       |
| by the said PETER JOHNGOULANDRIS                     |  | Peter John Goulandris                                                                                                                                      |
| in the presence of:                                  |  | Peter JohnGoulandris                                                                                                                                       |
|                                                 |  | BarryCass                                                                                                                                                  |
|                                                 |  | Witness                                                                                                                                                    |
| PRESENT when the commonseal                          |  |                                                                                                                                                       |
| of WATERFORD WEDGWOODplc                             |  | Paul D'Alton                                                                                                                                               |
| was affixed hereto:                                  |  | Director                                                                                                                                                   |
|                                                 |  | PatrickDowling                                                                                                                                             |
|                                                 |  | Director/Secretary                                                                                                                                         |
|                                                      |

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