----

| DATED |  June 19,  2009 |
|-------|----------------------|

|   |                                    |   |
|--------|-----------------------------------------|--------|
|   |  CONTRACT      OF EMPLOYMENT  |   |

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| Name      and Address of Employer:    |   | CME      Media Services Limited, 5 Fleet Place, London EC4M 7RD, United Kingdom      (the “Company”) |
|---------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|
|                                  |   |                                                                                                             |
| Name      and Address of Employee:    |   | Dave      Sturgeon [address redacted]                                                                            |
|                                  |   |                                                                                                             |
| Date      this Contract takes effect: |   | July      1, 2009                                                                                                |

| 1             COMMENCEMENT OF AND CONDITIONS TOEMPLOYMENT |
|----------------------------------------------------------------------------------------------|

| 1.1 | Your      employment with the Company shall commence on July 1, 2009 or such other      date as agreed between you and the Chief Financial Officer of the CME      group (the “Commencement      Date”). |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2 | You      represent and warrant that you are not bound by or subject to any      contract, court order, agreement, arrangement or undertaking which in any      way restricts or prohibits you from entering into this Contract or      performing your duties under it. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2 | JOB      TITLE AND DUTIES |
|---|---------------------------|

| 2.1 | Your      job title is Finance Director of CME Media Services Limited and Deputy      Chief Financial Officer of the CME group reporting to the Chief Financial      Officer of the CME group. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2 | Your      main duties are:                      |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2.2.1 | management      of all aspects of the Company’s financial  activities; |
|--------|-------|------------------------------------------------------------------------------|

|   | 2.2.2 | management      and oversight of the group finance and tax functions of the CME group,      including but not limited to directing activities in the areas of      financial reporting, accounting, tax, financial systems and process for      the CME group; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2.2.3 | acting      as statutory director of such entities of the CME group as may be      determined from time to time; |
|--------|-------|------------------------------------------------------------------------------------------------------------------|

|   | 2.2.4 | undertaking      tasks or duties delegated by the Chief Financial Officer of the CME group      from time to time; |
|--------|-------|--------------------------------------------------------------------------------------------------------------------|

|   | 2.2.5 | undertaking      such additional tasks in respect of the business of the Company as the      President and Chief Operating Officer or the Chief Financial Officer of      the CME group directs from time to time;and |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2.2.6 | travelling      to such countries as directed by the President and Chief Operating Officer      or the Chief Financial Officer of the CME group to undertake tasks      specified by him.  In addition to your main duties you will be      required to carry out such other duties consistent with your position as      the Company may from time to time reasonably  require. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.3 | You      shall use your best endeavours to promote and protect the interests of the      Company and shall not do anything that is harmful to those      interests. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 2.4 | You      shall devote the whole of your working time (unless prevented by      ill-health or accident or otherwise directed by the Company) to the duties      of this Contract and you shall not be directly or indirectly interested or      concerned in any manner in any other business (other than holding as a      bona-fide personal investment equity in any company whose shares are      listed on any recognised exchange or is otherwise not a Restricted      Business as defined in clause 19.1) except with the Company’s prior      written consent. If such consent is given, you must provide the Company      with the number of hours worked for any other employer each      month. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3             PLACE OF WORK |
|----------------------------------------------------------------|

| 3.1 | You      will be based in the Company’s London office or at such other place as the      Company may from time to time reasonably require.  If you are      required by the Company to work outside the United Kingdom for a period of      more than one month, the Company will confirm in writing any terms      relating to such period. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | The      duties of this appointment shall relate primarily the countries in which      the CME group holds interests in television stations.  You may      also be required to travel to other destinations from time to time as      reasonably required by the Company for the proper performance of your      duties. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4             REMUNERATION |
|---------------------------------------------------------------|

| 4.1 | From      the Commencement Date, your basic salary is 250,000 pounds (£) per year,      payable monthly in arrears by credit transfer into your bank account after      all necessary deductions for relevant taxes and social security payments.      Your salary will be reviewed on an annual basis.  The first      review will take place on or about the first anniversary of your      Commencement Date.  Any increase is entirely at the Company’s      discretion. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2 | You      shall be entitled to participate in such annual discretionary bonus scheme      as may be in place from time to time and on such terms as may be      determined by the Company.  The amount, if any, of such a bonus      shall be determined by the President and Chief Operating Officer of the      CME group, pursuant to the rules of any such discretionary bonus scheme.      Any bonus awarded will be based on a figure representing 50% of your gross      annual salary. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5             OTHER BENEFITS |
|-----------------------------------------------------------------|

| 5.1 | You      are entitled to membership of such insurance schemes (each referred to      below as an “insurance      scheme”) provided by the Company from time to time,      including: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 5.1.1     | a      medical and dental expenses insurance scheme providing such cover for you      and your spouse/partner and any children under the age of eighteen (18) as      the Company may from time to time notify toyou; |
|--|-------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 5.1.2    | a      salary continuance on long-term disability insurance scheme providing such      cover for you as the Company may from time to time notify to you;      and |
|--|-------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 5.1.3  | a      life insurance scheme providing such cover for you as the Company may from      time to time notify to you. |
|--|-------------|--------------------------------------------------------------------------------------------------------------------|

----

| 5.2 | Benefits      shall be subject to the terms of any applicable insurance policy and are      conditional upon your complying with and satisfying any applicable      requirements of the insurers or other benefits provider.  Copies      of these rules and policies and particulars of the requirements shall be      provided to you on request.  The Company shall not have any      liability to pay any benefit to you under any insurance scheme unless it      receives payment of the benefit from the insurer under the      scheme. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.3 | Any      insurance scheme which is provided for you is also subject to the      Company’s right to alter the cover provided or any term of the scheme or      to cease to provide (without replacement) the scheme at any time if in the      reasonable opinion of the Company your state of health is or becomes such      that the Company is unable to insure the benefits under the scheme at the      normal premiums applicable. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.4 | The      provision of any insurance scheme or any benefits hereunder does not in      any way prevent the Company from lawfully terminating this Contract in      accordance with the provisions in clause 10 even if to do so would deprive      you of membership of or cover under any such scheme or      benefit. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6             EXPENSES |
|-----------------------------------------------------------|

| 7             HOURS OF WORK |
|----------------------------------------------------------------|

| 8             HOLIDAYS |
|-----------------------------------------------------------|

| 8.1 | You      are entitled to 30 days’ holiday per annum (in addition to public      holidays) and such other days as may be provided in the Company’s Employee      Handbook, as such number may be modified by an election to purchase or      sell days of holiday under the Company’s Flexible Benefits      Plan. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | Your      entitlement to holiday accrues pro rata on an annual basis as calculated      from 1 April until 31 March (inclusive) each year (the “Holiday      Year”). |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | On      termination, you will be paid only for accrued vacation in the relevant      Holiday Year and not for vacation carried over from the previous      year. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.4 | If      your employment is terminated without notice, you will not be entitled to      holiday pay for holiday that would have accrued during the notice period,      had you continued to be employed throughout that  time. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.5 | The      Company may also refuse to allow you to take holiday in circumstances      where it would be inconvenient to the business of the    Company. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 9      SICKNESS |
|-----------------------------------------------|

| 9.1 | You      will be entitled to sick pay in accordance with the Company’s sick leave      policy set out in the Company’s Employee  Handbook. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2 | The      Company may from time to time in its reasonable discretion and at its      expense require you to be examined by a medical advisor nominated by the      Company and you agree to provide such formal consents as may be reasonably      necessary for the results of such examinations to be disclosed to the      Company.  Such information obtained from you shall be held in      accordance with the data protection provision as set out in clause 16 of      this Contract. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10      TERMINATION |
|---------------------------------------------------|

| 10.1 | The      Company may terminate this Contract on giving you twelve months’ notice in      writing to expire at any time. You are required to give the Company six      months’ notice. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2 | The      Company may at any time and in its absolute discretion (whether or not any      notice of termination has been given under clause 10.1 above) terminate      this Contract with immediate effect and make a payment in lieu of      notice.  This payment will be  comprised solely of      your basic salary (at the rate payable when this option is exercised) in      respect of the portion of the notice period remaining at the time the      Company exercises this option and shall be subject to deductions for      income tax and social security as appropriate.  You will not,      under any circumstances, have any right to payment in lieu unless the      Company has exercised its option to pay in lieu of  notice. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.3 | At      the election of the Company, the payment in lieu of notice will be made at      the times the Company would have made payments to you had notice not been      given or on expiry of the remainder of the period of    notice. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.4 | Your      employment may be terminated by the Company without notice or payment in      lieu of notice by reason of your gross misconduct. Examples of gross      misconduct are set out in the Company’s Employee  Handbook. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.5 | Upon      the termination by whatever means of this Contract you shall immediately      return to the Company all documents, computer media and hardware, credit      cards, mobile phones and communication devices, keys and all other      property belonging to or relating to the business of the Company which is      in your possession or under your power or control and you must not retain      copies of any of the above. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11      SUSPENSION |
|--------------------------------------------------|

| 11.1 | The      Company may suspend you from your duties on full pay to allow the Company      to investigate any bona-fide complaint made against you in relation to      your employment with the Company. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.2 | Provided      you continue to enjoy your full contractual benefits and receive your pay      in accordance with this Contract, the Company may in its absolute      discretion do all or any of the following during the notice period or any      part of the notice period, after you or the Company have given notice of      termination to the other, without breaching this Contract or incurring any      liability or giving rise to any claim against  it: |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | 11.2.1   | exclude      you from the premises of theCompany; |
|--|--------------------|---------------------------------------------------|

|  | 11.2.2   | require      you to carry out only specified duties (consistent with your status, role      and experience) or to carry out noduties; |
|--|--------------------|---------------------------------------------------------------------------------------------------------------------------------------|

|  | 11.2.3   | announce      to any of its employees, suppliers, customers and business partners that      you have been given notice of termination or have resigned (as the case      may be); |
|--|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 11.2.4   | prohibit      you from communicating in any way with any or all of the suppliers,      customers, business partners, employees, agents or representatives of the      Company until your employment has terminated except to the extent that you      are authorised by the General Counsel of CME in writing;    and |
|--|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 11.2.5  | require      you to comply with any other reasonable conditions imposed by the      Company. |
|--|--------------|----------------------------------------------------------------------------------------------|

| 11.3 | You      will continue to be bound by all obligations owed to the Company under      this Contract until termination of this Contract in accordance with clause      10 or such later date as providedherein. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12      CONFIDENTIAL      INFORMATION |
|---------------------------------------------------------------------|

| 12.1 | You      agree during and after the termination of your employment not to use or      disclose to any person (and shall use your best endeavours to prevent the      use, publication or disclosure of ) any confidential      information: |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 12.1.1  | concerning      the business of the Company and which comes to your knowledge during the      course of or in connection with your employment or your holding office      with the Company; or |
|--|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 12.1.2         | concerning      the business of any client or person having dealings with the Company and      which is obtained directly or indirectly in circumstances where the      Company is subject to a duty ofconfidentiality. |
|--|--------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.2 | For      the purposes of clause 12.1.1 above, information of a confidential or      secret nature includes but is not limited to information disclosed to you      or known, learned, created or observed by you as a consequence of or      through your employment with the Company, not generally known in the      relevant trade or industry about the Company’s business activities,      services and processes, including but not limited to information      concerning advertising, sales promotion, publicity, sales data, research,      programming and plans for programming, finances, accounting, methods,      processes, business plans (including prospective or pending licence      applications or investments in licence holders or applicants), client or      supplier lists and records, potential client or supplier lists, and client      or supplier billing. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.3 | This      clause shall not apply to information whichis: |
|------|----------------------------------------------------------|

|  | 12.3.1   | used      or disclosed in the proper performance of your duties or with the consent      of the Company; |
|--|--------------------|----------------------------------------------------------------------------------------------------------|

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|  | 12.3.2  | ordered      to be disclosed by a court of competent jurisdiction or otherwise required      to be disclosed by law or pursuant to the rules of any applicable stock      exchange; or |
|--|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 12.3.3  | or      comes into the public domain (otherwise than due to a default by      you). |
|--|--------------|-------------------------------------------------------------------------------------|

| 13      INTELLECTUAL      PROPERTY |
|------------------------------------------------------------------|

| 13.1 | You      shall assign with full title your entire interest in any Intellectual      Property Right (as defined below) to the Company to hold as absolute      owner. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.2 | You      shall communicate to the Company full particulars of any Intellectual      Property Right in any work or thing created by you and you shall not use,      license, assign, purport to license or assign or disclose to any person or      exploit any Intellectual Property Right without the prior written consent      of the Company. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.3 | In      addition to and without derogation of the covenants imposed by the Law of      Property (Miscellaneous Provisions) Act 1994, you shall prepare and      execute such instruments and do such other acts and things as may be      necessary or desirable (at the request and expense of the Company) to      enable the Company (or its nominee) to obtain protection of any      Intellectual Property Right vested in the Company in such parts of the      world as may be specified by the Company (or its nominee) and to enable      the Company to exploit any Intellectual Property Right vested in it to its      best advantage. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.4 | You      hereby irrevocably appoint the Company to be your attorney in your name      and on your behalf to sign, execute or do any instrument or thing and      generally to use your name for the purpose of giving to the Company (or      its nominee) the full benefit of the provisions of this clause and a      certificate in writing signed by any director or the secretary of the      Company that any instrument or act relating to such Intellectual Property      Right falls within the authority conferred by this clause shall be      conclusive evidence that such is the case in favour of any third      party. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.5 | You      hereby waive all of your moral rights (as defined in the Copyright,      Designs and Patents Act 1988) in respect of any act by the Company and any      act of a third party done with the Company’s authority in relation to any      Intellectual Property Right which is or becomes the property of the      Company. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.6 | “Intellectual Property      Right” means a copyright, know-how, trade secret and any other      intellectual property right of any nature whatsoever throughout the world      (whether registered or unregistered and including all applications and      rights to apply for the same)which: |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 13.6.1  | relates      to the business or any product or service of the Company;    and |
|--|--------------|-------------------------------------------------------------------------------|

|  | 13.6.2   | is      invented, developed, created or acquired by you (whether alone or jointly      with any other person) during the period of your employment with the      Company; |
|--|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 14      DISCIPLINARY      AND GRIEVANCE PROCEDURES |
|----------------------------------------------------------------------------------|

| 15      COLLECTIVE      AGREEMENTS/WORKFORCE AGREEMENTS |
|---------------------------------------------------------------------------------------|

| 16      DATA      PROTECTION |
|------------------------------------------------------------|

| 16.1 | You      acknowledge that the Company will hold personal data relating to      you.  Such data will include your employment application,      address, references, bank details, performance appraisals, work, holiday      and sickness records, next of kin, salary reviews, remuneration details      and other records (which may, where necessary, include sensitive data      relating to your health and data held for equal opportunities      purposes).  The Company will hold such personal data for      personnel administration and management purposes and to comply with its      obligations regarding the retention of your records.  Your right      of access to such data is as prescribed bylaw. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.2 | By      signing this Contract, you agree that the Company may process personal      data relating to you for personnel administration and management purposes      and may, when necessary for those purposes, make such data available to      its advisors, to third parties providing products and/or services to the      Company and as required by law. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17      CONTRACTS      (RIGHTS OF THIRD PARTIES) ACT 1999 |
|-----------------------------------------------------------------------------------------|

| 18      MONITORING      OF COMPUTER SYSTEMS |
|---------------------------------------------------------------------------|

| 18.1 | The      Company will monitor messages sent and received via the email and      voicemail system to ensure that employees are complying with the Company’s      Information Technology policy (as detailed in the Company’s Employee      Handbook). |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.2 | The      Company reserves the right to retrieve the contents of messages for the      purpose of monitoring whether the use of the email system is in accordance      with the Company’s best practice, whether use of the computer system is      legitimate, to find lost messages or to retrieve messages lost due to      computer failure, to assist in the investigations of wrongful acts or to      comply with any legal obligation. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.3 | You      should be aware that no email or voicemail sent or received through the      Company’s system is private.  The Company reserves and intends      to exercise its right to review, audit, intercept, access and disclose on      a random basis all messages created from it or sent over its computer      system for any purpose.  The contents of email or voicemail so      obtained by the Company in the proper exercise of these powers may be      disclosed without your permission.  You should be aware that the      emails or voicemails or any document created on the Company’s computer      system, however confidential or damaging, may have to be disclosed in      court or other proceedings.  An email which has been trashed or      deleted can still be retrieved. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 18.4 | The      Company further reserves and intends to exercise its right to monitor all      use of the internet through its information technology systems, to the      extent authorised by law.  By your signature to this Contract,      you consent to any such monitoring. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19      POST-EMPLOYMENT      RESTRICTIONS |
|-------------------------------------------------------------------------|

| 19.1 | You      agree for a period of six months after the termination of your employment      that you shall not either on your own account or on behalf of any other      person, firm or company directly or indirectly, carry on or be engaged,      concerned or interested in any business which is competitive with the      business of securing television licences, operating television stations      and/or programming services in which Central European Media Enterprises      Ltd. and/or any Associated Company (as defined below) is engaged and with      which you were actively involved at any time in the twelve months      preceding the termination of your employment (the “Restricted Business”)      within the territories of operation of Central European Media Enterprises      Ltd. and/or any Associated Company. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.2 | You      agree, in connection with the carrying on of the Restricted Business that      for a period of six months after the termination of your employment, you      shall not, either on your own account or on behalf of any other person,      firm or company, directly or indirectly, seek to do business and/or do      business with any person, firm or company who at any time during the      twelve months preceding the termination of your employment had material      dealings with the Company or any Associated Company in the ordinary course      of business. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.3 | You      agree for a period of six months following the termination of your      employment, that you shall not solicit or employ or cause to be employed,      whether directly or indirectly, any employee of the Company who has      substantial knowledge of confidential aspects of the business of the      Company, and with whom at any time during the period of twelve months      prior to such termination you had material  dealings. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.4 | Each      of the restrictions in this clause shall be enforceable independently of      each other and its validity shall not be affected if any of the others is      invalid.  If any of the restrictions is void but would be valid      if some part of the restriction were deleted, the restriction in question      shall apply with such modification as may be necessary to make it      valid. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.5 | The      restrictions set forth in this clause 19 shall not apply if the Company is      in breach of this Contract. |
|------|----------------------------------------------------------------------------------------------------------------------|

| 19.6 | For      the purposes of this Contract, “Associated Company”      shall mean a subsidiary (as defined by the Companies Act 1985 as amended)      and any other company which is for the time being a holding company (as      defined by the Companies Act 1985 as amended) of the Company or another      subsidiary of such holding company. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20 | INDEMNITY |
|----|-----------|

| 20.1 | The      Company will indemnify you and pay on your behalf all Expenses (as defined      below) incurred by you in any Proceeding (as defined below), whether the      Proceeding which gave rise to the right of indemnification pursuant to      this Contract occurred prior to or after the date of this Contract      provided that you shall promptly notify the Company of such Proceeding and      the Company shall be entitled to participate in such Proceeding and, to      the extent that it wishes, jointly with you, assume the defence thereof      with counsel of its choice.  This indemnification shall not      apply if it is determined by a court of competent jurisdiction in a      Proceeding that any losses, claims, damages or liabilities arose primarily      out of your gross negligence, wilful misconduct or bad    faith. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 20.2 | The      term ”Proceeding”      shall include any threatened, pending or completed action, suit or      proceeding, or any inquiry or investigation, whether brought in the name      of the Company or otherwise and whether of a civil, criminal,      administrative or investigative nature, including, but not limited to,      actions, suits or proceedings brought under or predicated upon any      securities laws, in which you may be or may have been involved as a party      or otherwise, and any threatened, pending or completed action, suit or      proceeding or any inquiry or investigation that you in good faith believe      might lead to the institution of any such action, suit or proceeding or      any such inquiry or investigation, by reason of the fact that you are or      were serving at the request of the Company as a director, officer or      manager of any other Associated Company, whether or not you are serving in      such capacity at the time any liability or expense is incurred for which      indemnification or reimbursement can be provided under this      Contract. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.3 | The      term "Expenses”      shall include, without limitation thereto, expenses (including, without      limitation, attorneys fees and expenses) of investigations, judicial or      administrative proceedings or appeals, damages, judgments, fines,      penalties or amounts paid in settlement by or on behalf of you and any      expenses of establishing a right to indemnification under this      Contract. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.4 | The      Expenses incurred by you in any Proceeding shall be paid by the Company as      incurred and in advance of the final disposition of the Proceeding at your      written request.  You hereby agree and undertake to repay such      amounts if it shall ultimately be decided in a Proceeding that you are not      entitled to be indemnified by the Company pursuant to this Contract or      otherwise. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.5 | The      indemnification and advancement of Expenses provided by this Contract      shall not be deemed exclusive of any other rights to which you may be      entitled under the Company’s Certificate of Incorporation or the      constituent documents of any other Associated Company for which you are      serving as a director, officer or manager at the request of the Company,      the laws under which the Company was formed, or otherwise, and may be      exercised in any order you elect and prior to, concurrently with or      following the exercise of any other such rights to which you may be      entitled, including pursuant to directors and officers insurance      maintained by the Company, both as to action in official capacity and as      to action in another capacity while holding such office, and the exercise      of such rights shall not be deemed a waiver of any of the provisions of      this Contract.  To the extent that a change in law (whether by      statute or judicial decision) permits greater indemnification by agreement      than would be afforded under this Contract, it is the intent of the      parties hereto that you shall enjoy by this Contract the greater benefit      so afforded by such change.  The provisions of this clause shall      survive the expiration or termination, for any reason, of this Contract      and shall be separatelyenforceable. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21      GENERAL |
|-----------------------------------------------|

| 21.1 | You      hereby authorise the Company to deduct from any salary payable to you any      sums owing by you to the Company. |
|------|---------------------------------------------------------------------------------------------------------------------------|

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| 21.2 | As      from the effective date of this Contract, all other agreements or      arrangements between you and the Company shall cease to have      effect. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.3 | This      Contract shall be governed by and construed in accordance with English      law. |
|------|--------------------------------------------------------------------------------------------|

| 21.4 | The      terms set out in this Contract should be read in conjunction with the      various rules and procedures set out in the Company’s Employee      Handbook.  The Company’s Employee Handbook does not form part of      this Contract. For the avoidance of doubt, in the event that there is any      conflict between the terms of this Contract and the Company’s Employee      Handbook, this Contract shallprevail. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Signed      as a Deed by CME Media Services Limited acting by: |                             |
|----------------------------------------------------------------|----------------------------------|
|                                                           |                             |
| Daniel      Penn, Director                                     | /s/      Daniel Penn             |
|                                                           |                             |
| Mark      Wyllie, Attorney                                     | /s/      Mark Wyllie             |
|                                                           |                             |
| Signed      as a Deed by Dave Sturgeon                         | /s/      Dave Sturgeon           |
|                                                           |                             |
| in      the presence of:Witness      signature:                |  /s/      Wallace Macmillan |
|                                                           |                             |
| Name:                                                          | Wallace      Macmillan           |
|                                                           |                             |
| Address:                                                       |                             |
|                                                           |                             |
| Occupation:                                                    | Chief      Financial Officer     |

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