Exhibit 10.7**Executive Employment Agreement**The undersigned:1. PLAYLOGIC INTERNATIONAL N.V., having its registered office at Concertgebouwplein 13, 1071 LL,Amsterdam, the Netherlands, hereinafter referred to as “the Employer”;and2. Jan Willem Kohne, residing at Catharina van Rennesstraat 5-I, 1077 KW Amsterdam hereinafterreferred to as “the Employee”;Declare to have agreed as follows:1. Date of Employment and Position1.1. The Employee enters into an employment agreement with the Employer effective as of November 1,2005 in the position of Chief Financial Officer and undertakes to perform, to the best of hisabilities all the duties in connection with the business of Employer which may be reasonablyassigned to him by or on behalf of the Employer, to the best of his ability and in so doing, tocomply with the instructions he receives from or on behalf of the Employer.2. Location where the work is to be performed2.1 The place of employment will be the offices of Employer in Amsterdam, the Netherlands and NewYork, the United States of America.2.2 The Employer may require the Employee to perform services for any company part of Employerwherever situated and without further fees or remuneration and to enter into any separate agreementwith such company for such purpose and any duties that he may have under this agreement will bedeemed extended to such company.3. Term of the agreement and termination3.1. This agreement is entered into for an indefinite period of time but terminates in any event,without notice being required, on the first day of the month on which the Employee reaches the ageof 65.3.2. This agreement may be terminated with due observance of a term of notice of six (6) months forthe Employer and a term of notice of three (3) months for the Employee. This provision does notpreclude either pf the parties to terminate this agreement with immediate effect for an “urgentreason” in the sense of article 7:677 Dutch Civil Code.3.3. If the Employer has given notice of termination to the Employee or if the employer has filed arequest for rescission of this agreement by the court, irrespective of the reason of such notice orsuch request, the Employer may suspend the employment of the Employee until the termination date.During such suspension period, the Employee is entitled to the base salary and fringe benefits butexcluding any short or long term incentive.4. Salary and fringe benefits4.1 The Employee shall receive an annual base salary of (euro) 143,000 gross. This salary shallpaid in twelve installments and includes the statutory holiday allowance and shall be reviewedannually during the month of December. Salary adjustments, if any, shall become effective perJanuary 1 of the calendar year following the review.
 

 
4.2 The Employee is entitled to the fringe benefits included in the Employer’s employmentsconditions (Personeelshandboek) in force from time to time. A copy of these conditions has beenprovided to Employee. Employer is entitled to amend and change the employments conditions at hissole discretion.4.3 The Employee is entitled to receive 50% of the cost of the premiums of his private healthinsurance from the Employer.4.4 The Employee is entitled to an one time allowance up to a maximum amount of (euro) 40,000 grossto be paid in December 2005 as compensation for loss of bonus rights Employee has under his currentemployment contract with his current Employer.4.5 In case this employment agreement is terminated by the Employer prior to 1 November 2007 foranother reason than an urgent reason in accordance with article 7:677 Dutch Civil Code the Employeeshall be entitled to a termination allowance of one time his annual base salary of (euro) 143,000gross which allowance includes the monthly salary payments due by the Employer during the noticeperiod mentioned in article 3.2.5. Short term and long term incentive schemes5.1 The Employee shall be entitled to receive a short term incentive up to a certain percentage ofhis base salary mentioned in article 4.1. The pay out of the short term incentive shall bedependent on the achievement by the Employee of certain preset discretionary targets. Thepercentage as well as the pay out shall be determined annually by the Board of Directors inDecember prior to the start of a new budget year.5.2 Subject to the approval by the Board of Directors the Employee shall be entitled to participatein a long term incentive plan of Employer in force from time to time.6. Overtime6.1 The customary working week comprises 40 hours. General office hours are from 09:00h to 17:30h.6.2 Upon request of the Employer Employee undertakes to work overtime without any furthercompensation7. Business expenses and car7.1 The Employer shall compensate the Employee for reasonable business expense incurred in theperformance of his duties. Compensation is given in exchange for receipts, etc. This includes alsophone expenses, fixed and mobile. The Employee is entitled to the use of a company credit card forbusiness expenses.7.2 The Employee is entitled to a company car, on basis of full operational lease including cost offuel for a maximum amount of (euro) 1400 per month excl. VAT. The Employee and his partner areentitled to use the Company car for business and private purposes. All other cost including taxesrelated to the use of the car not covered by the operational lease amount are for the account ofthe Employee.8. HolidayThe Employee is entitled to 26 working days holiday leave per calendar year, to be taken in properconsultation with the Employer.9. Illness/disability9.1 In the event of illness in the sense of Book 7, Section 629 Dutch Civil Code, the Employee mustreport his illness to the Employer as soon as possible, but no later prior to 9.30 a.m. on thefirst day of illness. The Employee undertakes to comply with the rules related to reporting andmonitoring in the case of illness, as adopted periodically by the Employer.9.2 In the event of illness, the Employer shall pay 100% of the salary as referred to in Article4.1 from the first day for a maximum period of 52 weeks, calculated from the first day of illness.After the lapse of the period
 

 
of 52 weeks mentioned in the first sentence of this article Employershall pay 70% of the salary as meant in article 4.1 during a period with a maximum of 52 weekscounted from the first day of the 53rd week following the date of report mentioned in article 9.1.The provisions apply if and insofar as the Employer is obligated to effect the payment referred toin Book 7, Section 629 paragraph 1 Dutch Civil Code on the basis of the provisions in (3) to (7)inclusive, and (9) of Book 7, Section 629 Dutch Civil Code. In case applicable Law changes duringthe term of this Agreement, Law shall prevail.9.3 In the event the payments the Employee may assert a claim for damages against a third party dueto loss of income in connection with his illness ex Article 6:107a of the Dutch Civil Code theEmployee will assign his entitlement to damages up to the amount paid by the Employer to theEmployer.10. Confidentiality10.1 The Employee undertakes, during the term of this Agreement and following its termination forany reason whatsoever, not to make any statements in any way whatsoever to any party whatsoever(including other employees of the Employer, unless they should receive the information inconnection with their duties for the Employer) concerning data of an evidently confidential nature,related to the business of the Employer, of which the Employee became aware in the scope of hisduties for the Employer and the confidential nature of which he knows or should know, aboutPlaylogic International N.V. and subsidiaries and her business.10.2 If the Employee acts in contravention of his obligations under the provisions in paragraph 1of this Article, he shall forfeit a penalty of EUR 5,000 to the Employer, in contravention of Book7, Section 650(3), (4) and (5) Dutch Civil Code, without any requirement of notification of default, for everyviolation. The Employer may claim payment of total damages instead.11. Documents and data carriers11.1 The Employee is prohibited from retaining in any way whatsoever, documents and/orcorrespondence and/or other data carriers and/or copies thereof that belong to the Employer, withthe exception of the extent to which that is required for the performance of his duties for theEmployer. In any event, the Employee is obligated, without any request to that end being required,to immediately return such documents and/or correspondence and/or other data carriers and/or copiesthereof to the Employer upon termination of the Employment Agreement, or in the case of non-activestatus for any reason whatsoever.12. Non competition clause12.1 Upon termination of this Agreement Employer may ask Employee to enter into a non competeagreement with the provisions set out below in paragraph’s 12.2 and 12.3. For entering into thisagreement Employer shall pay Employee a compensation equal to 50% of the gross annual base salaryas set out in article 4 of this Agreement.12.2 The Employee undertakes not to be employed by or involved in an undertaking active in a fieldequal to or otherwise competing with that of the Employer in the Netherlands, both during theemployment contract and for a period of twelve months thereafter, directly nor indirectly, neitherfor himself nor for any other people, nor to render his intermediary services in any formwhatsoever, directly nor indirectly. This obligation refers exclusively to any employment orinvolvement of the Employee as meant above within the field of Game Software Development.12.3 If the Employee should act contrary to his obligations under the provisions of the paragraphs1 and 2 of this clause, he shall, contrary to paragraphs 3, 4 and 5 section 7:650 of the Civil Codeand without any notice of default being required, forfeit to the Employer for each violation apenalty in the amount of EUR 5.000 together with a penalty in the amount of EUR 1000 for each dayon which the violation takes place and continues taking place. The Employer in turn shall beentitled to claim full and complete indemnification.13. No additional occupation13.1 Without the prior written consent from the Employer, the Employee shall not accept anyassignment paid or unpaid with or for third parties.
 

 
13.2 Subject to the approval of the Board of Directors of Employer Employee is entitled to acceptboard member ships.14. Inventions and developments14.1 All works, names, symbols, logos, models, illustrations and/or inventions as well as allfurther developments and/or related changes realised by the Employee, either alone or in concertduring the term of the Employment Contract (hereinafter jointly referred to as: the “Property”),belong to the Employer.14.2 The Employer holds all intellectual and industrial property rights on,related to and/or ensuing from the Property (hereinafter referred to as: the IP rights).14.3 To the extent possible by law, the Employee hereby waives his personal rights as referred toin Section 25 of the Dutch Copyright Act.14.4 The Employee hereby acknowledges that his salary includes compensation for the possible lossof the IP rights and that he is not entitled to any other compensation for that.14.5 Once the Employee realises one or more elements of the Property, the Employee shallimmediately inform the Employer and, to the extent required by law, transfer the IP rights to theEmployer upon first request, costs to be met by the Employer. Upon request of the Employer, coststo be met by the Employer, the Employee shall sign every written document required for thetransfer, registration or maintenance of the IP rights in every country, and provide all othernecessary cooperation. The Employee hereby irrevocably authorises the Employer to perform everylegal act in the Employee’s name, as referred to in this Article.15. Other schemes15.1 This Agreement is subject to all relevant provisions as contained in the House Rules ofPlaylogic International N.V. in force from time to time. A copy of the House rules as in force onthe effective date of this agreement is provided to Employee and act merely as a guide for the toplevel management. In case of any conflict the rules of this Employment Agreement shall prevail.15.2 This Agreement is governed by and will be construed in accordance with the Dutch Law and theparties hereby submit to the exclusive jurisdiction of the Dutch Court.Thus agreed and prepared and signed in duplicate in Amsterdam, on September 29, 2005         /s/ W. M. Smit /s/ J. W. Kohne     W.M. Smit  J.W. Kohne    Managing Director      Playlogic International N.V.