----

**CET      21 spol. s r.o.**
** **

**-      and -**

**Adrian      Sarbu**

|   |                                                                      |   |
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|   |  **CONTRACT                FOR THE PERFORMANCE OF THE OFFICE**  |   |

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**CONTRACT      FOR THE PERFORMANCE OF THE OFFICE **

| Name                and Address of the Company:  | CET                21 spol. s r.o., with                its registered office at Kříženeckého                nám. 322/5,                152 00 Praha                5 - Hlubočepy,                ID.                No. 45800456                (the **“Company”**) |
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|                                             |                                                                                                                                                                                                                                                                                                           |
| Name                and Address of the Director: | Adrian                Sarbu, born April 18, 1955, residing at 230 Calae Dorobantilor, sector                1,                Bucharest, Romania (**“Mr.                Sarbu”**)                                                                                                                  |

**"Parties"**
**"Party"**
** **
**      "Contract"**

| (A) | Based                on the decision of the General Meeting of the Company dated March                2, 2006,                Mr. Sarbu was appointed to the office of the Executive Director of                the                Company (the **“Director”**)                effective as of March 3, 2006; |
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| (B) | The                Company is a member of the CME Group consisting of Central European                Media                Enterprises Ltd. (**“CME”**)                and any and all companies under its control (as such term is defined                by                Section 66a of Act No. 513/1991 Coll., the Commercial Code, as amended                (the “**Commercial                Code**”))                (the **“CME                Group”**);                and |
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| (C) | The                Company and Mr. Sarbu hereby wish to agree upon and set forth the                terms                and conditions of their mutual co-operation, which shall be carried                out in                connection with an exercise by Mr. Sarbu of his position of the                Director. |
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| 1 | **SUBJECT-MATTER                OF CONTRACT** |
|---|-----------------------------------------------|

| 1.1 | The                subject matter hereof shall be the stipulation of the terms and conditions                related to the performance by Mr. Sarbu of the office of the Director.                The                Parties hereto agree and acknowledge to each other that the terms                and                conditions agreed hereunder shall apply *mutatis                mutandis*                with respect to the performance by Mr. Sarbu of the office of the                Director                prior to the effective date hereof and starting on the day of the                appointment of Mr. Sarbu to such office as stipulated in Preamble                (A)                above. |
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| 2 | **OFFICE                AND DUTIES** |
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| 2.1 | Mr.                Sarbu shall occupy the position of the Director (in Czech “*jednatel*”)                of the Company. In such capacity Mr. Sarbu shall perform the duties                referred to in Section 2.2 hereof, which shall also include, without                limitation, such duties as would be assigned to the position of the                President of the Company (the **“President”**)                as specified in the organizational rules of the Company whereas the                Parties shall not enter into a separate agreement in respect of the                performance by Mr. Sarbu of the position of the President. For avoidance                of any doubts, both Parties hereto acknowledge and agree that no                employment relationship shall be established between Mr. Sarbu and                the                Company hereunder or in connection with any activities carried out                by Mr.                Sarbu hereunder. |
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| 2.2 | Mr.                Sarbu shall perform the duties of the Director as they arise from                the                applicable generally binding legal regulations, the valid Memorandum                of                Association of the Company, its internal regulations, the policies                of CME                or from the directives and instructions provided (if any) and decisions                adopted by the Company's General Meeting or decisions adopted by                the                shareholders of the Company outside the General Meeting, including                the                annual budget (any reference to a decision adopted by the Company’s                General Meeting shall hereinafter also include a reference to a decision                adopted by the shareholders of the Company outside the General Meeting),                unless the performance of such duties, obligations, directives and/or                instructions contravenes generally binding legal                regulations. |
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| 2.3 | Mr.                Sarbu shall perform his office of the Director and any and all of                his                obligations arising hereunder with due care. He shall be obliged                to do so                in person and in a thorough and diligent manner. |
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| 2.4 | Mr.                Sarbu shall use his best endeavors to promote and protect the interests                of                the Company and shall not do anything which would be harmful with                respect                thereto. |
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| 3 | **PLACE                OF WORK** |
|---|----------------------------------|

| 3.1 | In                general, Mr. Sarbu shall perform his office of the Director in Prague.                For                that purpose, the Company shall, at its cost and expense, provide                Mr.                Sarbu with an office in the place in which the Company has its seat,                including an adequate technical and material equipment and personnel                support, as is reasonably necessary for the performance of Mr. Sarbu ́s                duties hereunder. |
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| 4 | **REMUNERATION** |
|---|------------------|

| 4.1 | Mr.                Sarbu’s base annual remuneration for the performance of the office of the                Director shall be USD 500,000 (in words: five hundred thousand American                Dollars) per year ("**Annual                Remuneration**").                Mr. Sarbu shall be entitled to receive the full amount of the Annual                Remuneration only in the event that he will exercise the office of                the                Director during the period of full calendar year, otherwise the Annual                Remuneration shall be decreased on pro rata basis in relation to                the time                period during which Mr. Sarbu shall exercise the office of the Director                hereunder in the respective calendar year. |
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| 4.2 | Subject                to the provision of Section 4.1 hereof, the Annual Remuneration for                the                respective calendar year during which the office of the Director                is                performed by Mr. Sarbu shall be payable in arrears no later than                on the                date of salary payment for December as fixed for the Company’s employees.                The Company shall pay the Annual Remuneration, net of any mandatory                payments as required to be made by the Company in accordance with                the                applicable laws of the Czech Republic, including, without limitation,                any                withholding or other taxes and payments of social security and health                insurance, by wire transfer to the credit of Mr. Sarbu’s bank                account or to any other account of which Mr. Sarbu notifies the                Company in writing no later than 10 days prior to the due date of                the                payment (the **“Bank                Account”**). |
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| 4.3 | Mr.                Sarbu shall be entitled to receive a bonus based on the financial                results                and a combined reported EBITDA of the Company for the financial years                2006                and 2007. The terms of the payment and the amount of any bonus hereunder,                if any, shall be in a sole discretion of the General Meeting of the                Company and shall require a prior approval thereof. |
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| 5 | **OTHER                BENEFITS** |
|---|-----------------------------------|

| 5.1 | The                Company shall be obliged to ensure that Mr. Sarbu be insured by a                travel                health insurance of the type “*Executive                plus policy*”                based on a reasonable selection of Mr. Sarbu providing him with highest                standard of insurance protection for the whole period of the execution                of                the office hereunder. The Company shall be also obliged to pay the                insurance premiums for the travel health insurance. |
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| 5.2 | The                Company shall provide Mr. Sarbu with the above-standard health care                by                providing Mr. Sarbu with an above-standard health insurance based                on his                reasonable selection and at the expenses of the Company. |
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| 5.3 | Mr.                Sarbu shall be entitled to a compensation of his Annual Remuneration,                or                any part thereof, in case of his illness resulting in work disability                during which he will not receive any remuneration in accordance with                Section 4 hereof (the “**Sick                Leave Compensation**”)                provided that the work disability is proved to the Company by the                doctor’s                certificate. The Sick Leave Compensation shall be in each case equal                to                the respective portion of the Annual Remuneration in the respective                year                for a period of time during which Mr. Sarbu’s disability to work lasts,                provided that the illness (disability of work) lasts three (3) months                or                less. In case his illness (disability of work) would exceed three                (3)                months, the Sick Leave Compensation shall be further paid to Mr.                Sarbu in                an amount equal to 50% of such Annual                Remuneration. |
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| 5.4 | Any                insurance scheme to be provided to Mr. Sarbu in connection herewith                shall                be subject to the Company’s right to reasonably alter the cover provided                thereunder or any term of the scheme or to cease to provide (without                replacement) the scheme at any time in case that in the opinion of                the                Company the state of health of Mr. Sarbu is or becomes such that                the                Company is unable to insure the benefits under the scheme at the                normal                premiums applicable to a person of his age. The provision of any                insurance                scheme shall not in any way prevent the Company from lawfully terminating                this Contract in accordance with the provisions of Section 9 hereof                even                if such termination would deprive Mr. Sarbu of membership in or cover                under any such scheme. |
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| 5.5 | Mr.                Sarbu shall be entitled to use a company car of an execuitve class                reasonably selected by Mr. Sarbu with a driver on a 24/7 basis during                his                stay in the Czech Republic. He shall be entitled to use such car                for both                business and private purposes. All costs incurred with respect to                an                operation and use of such car (including all consumed fuel) shall                be                covered by the Company. |
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| 6 | **EXPENSES** |
|---|--------------|

| 6.1 | Neither                the travel nor any other costs incurred by Mr. Sarbu in the course                of the                exercise of the office of the Director are included in the Annual                Remuneration, bonus or in any other remuneration or benefits hereunder.                The Company shall reimburse any and all duly documented necessary                costs                and expenses, which shall be reasonably incurred by the Director                in                connection with the exercise of his office hereunder whether in Prague                or                on business trips as evidenced by receipts in accordance with the                Company                expense policy. |
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| 7 | **TIME                INVOLVEMENT IN THE COMPANY** |
|---|----------------------------------------------------|

| 7.1 | Mr.                Sarbu shall devote sufficient time to proper performance of his duties                hereunder. Save as set forth herein, no additional pay or time off                shall                be permitted to Mr. Sarbu in connection with his performance of the                office                hereunder based on the fact that the remuneration set forth herein                has                been agreed upon taking into consideration the contingent overtime                performance by Mr. Sarbu of his duties hereunder. |
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| 8 | **HOLIDAYS** |
|---|--------------|

| 8.1 | Mr.                Sarbu shall be entitled to a vacation of up to 25 days per annum                during                which Mr. Sarbu shall not be obliged to perform any duties or obligations                related to the office of the Director to the extent permitted by                applicable laws; provided, however, that during such time, his right                to                receive remuneration in accordance with Section 4 hereof and other                benefits set forth hereunder shall not be affected. |
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| 8.2 | Mr.                Sarbu shall take the vacation under Section 8.1 hereof simultaneously                with                the vacation taken by him under Section 8 of the Contract for the                Performance of the Office concluded between Mr. Sarbu and CME Media                Services s.r.o. on or about the date                hereof. |
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| 9 | **TERMINATION** |
|---|-----------------|

| 9.1 | This                Contract shall be entered into for a definite period of time, expiring                on                December 31, 2007 or, as the case may be, on the date on which the                term of                Mr. Sarbu’s office of the Director shall be terminated in accordance with                the terms hereof, the Commercial Code and the Memorandum of Association                of                the Company, unless stipulated otherwise herein; provided, however,                that                the obligations of Mr. Sarbu under Sections 10 and 11 hereof shall                survive                the termination of this Contract. |
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| 9.2 | The                exercise of Mr. Sarbu’s office of the Director and this Contract shall be                terminated upon: |
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|   | (a) | the                removal of Mr. Sarbu from the office of the Director on the grounds                of a                decision adopted by the General Meeting of the Company in a manner                complying with the respective legal regulations and the Memorandum                of                Association of the Company other than for reason set forth under                Section                9.2(b) hereof; |
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|   | (b) | the                removal of Mr. Sarbu from the office of the Director on the grounds                of a                decision adopted by the General Meeting of the Company in a manner                complying with the respective legal regulations and the valid Memorandum                of Association of the Company when such grounds are based on                Cause; |
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|   | (c) | the                resignation of Mr. Sarbu from his office of the Director in accordance                with the respective legal regulations and the valid Memorandum of                Association of the Company; |
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|   | (d) | mutual                agreement between the Parties; or |
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|   | (e) | other                causes of termination of the office of the Director provided under                the                Commercial Code or the Memorandum of Association of the                Company. |
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**Cause**

| 9.3 | Termination                pursuant to Section 9.2(a) and (c) hereof shall be on three months’ prior                written notice. Termination pursuant to Section 9.2(b) hereof shall                not                require any prior written notice and shall be effective from the                moment of                recall of Mr. Sarbu from the office of the Director. As of the day                of the                termination of the office of Mr. Sarbu hereunder, he shall cease                to                exercise duties related to the office of the Director. |
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| 9.4 | Upon                the termination, by whatever means, of this Contract, Mr. Sarbu shall                immediately, however no later than within three (3) business days                from the                date of such termination, return to the Company all documents, computer                media and all other property or assets belonging to or relating to                the                business of the Company and the performance of his duties hereunder                which                is in his possession or under his power or control or otherwise available                to Mr. Sarbu, and Mr. Sarbu must not retain copies of any of the                above,                save for cases in which it is necessarily required by mandatory applicable                legal regulations to keep such copies in order to be able to produce                evidence in a proceeding that might be initiated against Mr. Sarbu                in                relation to the performance of his duties                hereunder. |
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| 9.5 | Notwithstanding                the provision of Section 4.1 hereof, in the circumstance that Mr.                Sarbu is                recalled from his office pursuant to Section 9.2(a) hereof, he shall                be                entitled to a compensation in an amount equal to the Annual Remuneration                for the entire period of the existence hereof until December 31,                2007. |
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| 10 | **CONFIDENTIAL                INFORMATION** |
|----|---------------------------------------------|

| 10.1 | Mr.                Sarbu agrees, during the term hereof and after the termination of                the                office of the Director, not to use or disclose to any person (and                shall                use his best endeavours to prevent the use, publication or disclosure                of)                any confidential information: |
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|   | 10.1.1 | concerning                the business of the Company and/or CME Group which comes to the knowledge                of Mr. Sarbu during the course of or in connection with the holding                of his                office of the Director; or |
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|   | 10.1.2 | concerning                the business of any client or person having dealings with the Company                and/or CME Group and/or a company within the CME Group which is obtained                directly or indirectly in circumstances where the Company is subject                to a                duty of confidentiality. |
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| 10.2 | For                the purposes of Section 10.1 above, information of a confidential                or                secret nature includes, but shall not be not limited to, information                disclosed to Mr. Sarbu or known, learned, created or observed by                him as a                consequence of the holding of the office of the Director, not generally                known in the relevant trade or industry about the Company’s and/or CME                Group’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 license applications or investments in license                holders or applicants), client or supplier lists and records, potential                client or supplier lists, and client or supplier                billings. |
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| 10.3 | This                Section shall not apply to information which                is: |
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|   | 10.3.1 | disclosed                in the proper performance by Mr. Sarbu of duties of the Director                or with                the consent of the Company; |
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|   | 10.3.2 | ordered                to be disclosed by a court of competent jurisdiction or otherwise                necessarily required to be disclosed by law or pursuant to the rules                of                any applicable stock exchange; or |
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|   | 10.3.3 | comes                into the public domain otherwise than due to an omission or a breach                by                Mr. Sarbu hereof. |
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| 11 | **NON-COMPETITION**  |
|----|---------------------------|

| 11.1 | Within                the duration of the office of Mr. Sarbu as the Director and for a                period                of twelve (12) months after the termination hereof for any cause,                Mr.                Sarbu shall not: |
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|   | (a) | either                on his 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                licenses, operating television stations, programming services and                broadcasting in which the Company and/or CME Group are engaged and                with                which Mr. Sarbu was actively involved in the twelve months preceding                the                termination hereof within the territories of operation of the CME                Group; |
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|   | (b) | 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 hereof                was a                customer of the Company and/or CME Group and/or with whom during                that                period Mr. Sarbu or another employee or officer of the Company and/or                CME                Group had material dealings; and |
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|   | (c) | solicit                or employ or cause to be employed, whether directly or indirectly,                any                employee of the Company and/or CME Group who has substantial knowledge                of                confidential aspects of the business of the Company and/or CME Group,                and                with whom, at any time during the period of twelve months prior to                such                termination, Mr. Sarbu had material                dealings. |
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| 11.2 | Each                of the restrictions in this Section shall be enforceable independently                of                each other and their validity shall not be affected if any of the                other                restrictions are invalid. In the event that any of the restrictions                are                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. |
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| 11.3 | The                restrictions stipulated in Section 11.1 herein shall not apply with                respect to Mr. Sarbu’s activities within CME Group or related to any                member of the CME Group and shall be applicable solely with respect                to the                territory of the Czech Republic and/or the Slovak Republic or to                the                matters concerning such territory. |
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| 12 | **INTELLECTUAL                PROPERTY** |
|----|------------------------------------------|

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| 12.1 | Mr.                Sarbu shall, on the basis of a written agreement and, as the case                may be,                any other acts whether vis-à-vis the Company or a relevant authority, as                may be required under relevant legal regulations, transfer and assign                to                the Company any and all Intellectual Property Rights (as defined                below) or                the right of exercise thereof to the full possible extent permitted                under                (i) Act No. 121/2000 Coll., the Copyright Act (the “**Copyright                Act**”);                and/or (ii) any other laws of any jurisdiction applicable to the                respective Intellectual Property Right, immediately after the respective                Intellectual Property Right has arisen on the side of Mr. Sarbu,                however                no later than within 30 days thereafter. Within such period of time,                Mr.                Sarbu shall prepare and execute the license agreement and/or any                other                relevant agreement on the assignment of the Intellectual Property                Right or                any other relevant agreements (the “**License**”)                and any other 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) (i) to obtain the respective                Intellectual Property Right in such parts of the world as may be                specified                by the Company (or its nominee); and (ii) to enable the Company to                exploit                such Intellectual Property Right vested in it to the best advantage.                The                License shall specify the respective Intellectual Property Right                and the                assignment thereof to the Company to the full extent as set forth                under                this Section 12.1, effective as of the date of the execution of the                License. No compensation shall be provided by the Company to Mr.                Sarbu for                the assignment of any Intellectual Property Right and shall be considered                as part of Annual Remuneration for the year in which the Parties                executed                the respective License. |
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| 12.2 | Mr.                Sarbu shall inform the Company of all and full particulars of any                Intellectual Property Right in any work or performance or thing created                by                Mr. Sarbu, immediately after the respective Intellectual Property                Right                has arisen on the side of Mr. Sarbu, however no later than within                3 days                thereafter. Mr. Sarbu shall not use, assign, purport to assign or                disclose                to any person or exploit any Intellectual Property Right without                the prior                written consent of the Company. |
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| 12.3 | “**Intellectual                Property Right**”                shall mean any copyright or any other intellectual property right                with                respect to any performance, work or another product or any part thereof                or                any patent right, trademark right, industrial design right or any                other                intangible industrial right or 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: |
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|   | 12.3.1 | relates                to the business or any product or service of the Company; and |
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|   | 12.3.2 | is                invented, developed, created or acquired by Mr. Sarbu (whether alone                or                jointly with any other person) during the term of his office of the                Director hereunder within the performance by him of his obligations                arising under the office of the Director hereunder or in connection                herewith. |
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| 13 | **DATA                PROTECTION** |
|----|------------------------------------|

| 13.1 | Mr.                Sarbu acknowledges and explicitly agrees that the Company will hold                and                process personal and sensitive data relating to Mr. Sarbu within                the                meaning of Act No. 101/2000 Coll., as amended, on Protection of Personal                Data (the “**Data**”)                for personnel administration and management purposes within the period                of                (i) the duration of this Contract; and (ii) to the extent required                by law,                also after the termination hereof. The Data shall include, in particular,                Mr. Sarbu’s full name, address, date of birth, birth number,                identification card and passport numbers, references, bank details,                performance appraisals, work, holiday and sickness records, next                of kin,                remuneration reviews, remuneration details and other records (which                may,                where necessary, include sensitive data relating to health and data                held                for equal opportunities purposes). |
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| 13.2 | By                signing this Contract, Mr. Sarbu agrees that the Company may process                any                Data for the above purposes and may, when necessary for those purposes,                make such Data or any part thereof available to its advisers, to                third                parties providing products and/or services to the Company and as                required                by law. |
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| 14 | **GENERAL** |
|----|-------------|

| 14.1 | The                Parties hereto acknowledge and confirm to each other that this Contract                constitutes the whole and only agreement between the Company and                Mr. Sarbu                relating to the subject matter hereof, including any performance                of any                work or duties of Mr. Sarbu for the Company, and they hereby agree                that                this Contract shall supersede all previous contracts, agreements,                proposals, both oral and written, negotiations, presentations,                commitments, writings and all other communications between the Company                and                Mr. Sarbu, including all agreements on individual and remuneration                conditions, and they represent and warrant to each other that there                are no                unsettled claims and/or obligations arising in connection with the                foregoing as of the date hereof. |
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| 14.2 | Should                any of the provisions of this Contract be or become invalid or                unenforceable, such invalidity or unenforceability shall not impair                the                validity or enforceability of other provisions of this Contract to                the                extent permitted by relevant laws. Should this be the case, the Parties                undertake to replace such invalid or unenforceable provision by a                new one,                which shall be valid, enforceable and shall, in accordance with relevant                laws, comply best with the significance and effect of the original                provision. |
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| 14.3 | The                Contract may be changed or modified only by written amendments duly                executed by both Parties hereto. |
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| 14.5 | The                Contract can be terminated only as stipulated in Section 9 above. |
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| 14.6 | The                Contract has been executed in two counterparts in English language.                Each                of the Parties shall obtain one counterpart of the Contract and both                counterparts shall be valid as                originals. |
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| 14.7 | The                Contract shall come into force and effect as of the date on which                it is                signed by both Parties and approved by the General Meeting of the                Company.                The Company shall use its best efforts to ensure that the approval                of the                General Meeting of the Company is granted without undue delay, however,                no                later than within 3 weeks from the execution                hereof. |
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| 14.8 | This                Contract shall be governed by and construed in accordance with Czech                law. |
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| For                  CET 21 spol. s r.o.: |                                   | Adrian                  Sarbu                    |
|-------------------------------------------|----------------------------------------|--------------------------------------------------|
|                                      |                                   |                                             |   |
|                                      |                                   |                                             |   |
| By:                                       |                                   |  /s/                  Petr Dvořák |   | /s/Adrian                  Sarbu |
| Name:                                | Petr                  Dvořák |                                             |   |
| Title:                                    | Executive                  Director    |                                             |   |
|                                      |                                   |                                             |   |
|                                      |                                   |                                             |   |
| By:                                       |                                   | /s/                  Milan Cimirot               |   |   |
| Name:                           | Milan                  Cimirot         |                                             |   |
| Title:                                    | Executive                  Director    |                                             |   |

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