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| **DATED** |  **6                OCTOBER                2006** |
|-----------|--------------------------------------------------------|
|      |                                                   |

**CME      Development Corporation **

**-      and -**

**Wallace      Macmillan**

|   |                                                                                               |   |
|--------|----------------------------------------------------------------------------------------------------|--------|
|   |  **AMENDED                AND RESTATED** **CONTRACT                OF EMPLOYMENT**  |   |

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**AMENDED      AND RESTATED CONTRACT OF EMPLOYMENT AND STATEMENT OF PARTICULARS PURSUANT TO      SECTION 1 OF THE EMPLOYMENT RIGHTS ACT 1996**

| Name                and Address of Employer:   | CME                Development Corporation, Aldwych House 81 Aldwych, London WC2B 4HN                (the                **“Company”**) |
|------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
|                                           |                                                                                                                                                |
| Name                and address of Employee:   | Wallace                Macmillan of: Carrington House, Kew Place, High Wycombe, Bucks, HP11                1QW                                      |
|                                           |                                                                                                                                                |
| Date                this contract takes effect | April                1, 2006                                                                                                                        |

| 1 | **COMMENCEMENT                OF EMPLOYMENT** |
|---|-----------------------------------------------|

| 1.1 | This                amended and restated contract replaces the contract concluded between                the                Company and you on 17 March 2003. Your previous employment with the                Company will be treated as part of your continuous period of employment.                This means that the date of commencement of your continuous period                of                employment is 17 March 2003. |
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| 2 | **JOB                TITLE AND DUTIES** |
|---|-----------------------------------------|

| 2.1 | Your                job title is Chief Financial Officer, reporting to and subject to                the                direction and authorization of the Chief Executive Officer of Central                European Media Enterprises Ltd. (“CME Ltd.”), you will perform such                functions and undertake such responsibilities as are customarily                associated with such a position as your main duties. |
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| 2.2 | 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                require. You shall diligently and faithfully perform such duties                and                exercise such powers as may from time to time be assigned or vested                in you                in relation to the management or conduct of the Company by the board                of                directors of CME Ltd. |
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| 2.3 | You                shall use your best endeavours to promote and protect the interests                of the                Company and shall not do anything which is harmful to those                interests. |
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| 2.4 | You                shall devote the whole of your 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 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. |
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| 3 | **PLACE                OF WORK** |
|---|----------------------------------|

| 3.1 | You                will be based in the Company’s London                office. |
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| 3.2 | The                duties of this appointment shall relate primarily to the United Kingdom                but it is agreed that your position will require that you spend extensive                time travelling outside the United Kingdom when required by the Company                for the proper performance of your                duties. |
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| 4 | **REMUNERATION** |
|---|------------------|

| 4.1 | Your                basic salary is 250,000 pounds (£) per annum, payable by equal monthly                instalments in arrears on or about the 20th                of                each month by credit transfer into your bank account after all necessary                deductions for relevant taxes and national                insurance.. |
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| 4.2 | The                Company will review your salary annually on or before March 17 of                each                year. Any increase of your salary is entirely at the Company’s discretion                and the Company will have no contractual obligation to increase your                salary. |
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| 4.3 | You                shall be entitled to participate in an annual discretionary bonus                scheme.                . The amount, if any, of such a bonus shall be determined by the                Chief                Executive Officer of the Company, and is subject to the approval                of the                Compensation Committee. Any bonus awarded will be based on a target                representing 50% of your gross annual basic                salary. |
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| 4.4 | The                Company agrees to use reasonable efforts to cause CME Ltd. to grant                you                12,500 options over shares of Class A Common Stock of CME Ltd. on                annual                basis for each of the next four years. The date of grant shall be                established by the Compensation Committee of CME Ltd. the exercise                price                for such options shall be the closing price of the shares of Class                A                Common Stock on NASDAQ on the date of grant. Such options shall vest                in                four equal instalments and shall otherwise be subject to the 1995                Stock                Incentive Plan of CME Ltd. |
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| 5 | **OTHER                BENEFITS** |
|---|-----------------------------------|

| 5.1 | During                the term of this contract you are entitled to membership of the following                schemes (each referred to below as an *“insurance                scheme”*): |
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|   | 5.1.1 | a                  medical 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 to                  you; |
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|   |   |   |
|--------|--------|--------|
|   | 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; |
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|   |   |   |
|--------|--------|--------|

|   | 5.1.3 | a                  life insurance scheme providing such cover for you as the Company                  may from                  time to time notify you under which a lump sum benefit equal to                  two times                  your basic annual gross salary at the time of death (subject to                  any limits                  established by Inland Revenue) shall be payable on your death while                  this                  contract continues; and |
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|   |   |   |
|--------|--------|--------|

|   | 5.1.4 | a                  personal accident insurance scheme providing such cover for you                  as the                  Company may from time to time notify to                  you. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 5.2 | Benefits                under any insurance scheme shall be subject to the rules of the scheme(s)                and the terms of any applicable insurance policy and are conditional                upon                your complying with and satisfying any applicable requirements of                the                insurers. 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. |
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| 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                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 to a person of your                age. |
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| 5.4 | The                provision of any insurance scheme 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. |
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| 5.5 | In                addition to the above, and except as provided in Section 4.4, you                will be                entitled to all Company Benefits on such terms that are no less favourable                than other senior non-expatriate                executives. |
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| 6 | **EXPENSES** |
|---|--------------|

| 6.1 | The                  Company shall reimburse you for all reasonable expenses (such as                  travel                  and other appropriate business expenses as well as membership fees)                  incurred by you in the proper performance of your duties under                  this                  contract, on production of appropriate receipts in accordance with                  the                  Company’s Employee Handbook. |
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| 7 | **HOURS                OF WORK** |
|---|----------------------------------|

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

| 8.1 | You                are entitled to 25 days’ holiday with pay every calendar year in addition                to bank and other public holidays. The Company’s holiday year runs from                1st                January to 31st                December. |
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| 8.2 | Your                holiday entitlement is inclusive of your statutory entitlement which                is                twenty (20) days per annum. When calculating your statutory                entitlement bank and public holidays are taken into account. The                statutory                entitlement cannot be carried over from one holiday year to the next                and                no pay in lieu can be made to you. |
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| 8.3 | Your                holiday entitlement accrues pro rata on an annual basis as calculated                from                1 January of each year. |
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| 8.4 | Any                  entitlement to holiday remaining at the end of any holiday year                  over and                  above your statutory entitlement shall lapse and no payment in                  lieu will                  be made for accrued untaken                  holiday. |
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|  | 8.4.1 | If                you have taken holiday in excess of your entitlement on termination                of                employment you will be required to give account for it and the Company                will make a deduction from your final salary payment accordingly.                If you                have accrued holiday owing to you, the Company may at its discretion,                require you to take the outstanding holiday during any notice period                or                make a payment in lieu thereof.  |
|--|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.4.2 | For                  the purposes of clause 8.4.1                  above, a day’s pay will be calculated on the basis of 1/260th                  of                  your annual salary less                  deductions. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.5 | If                your employment is terminated without notice, you will not be entitled                to                holiday pay for holiday which would have accrued during the notice                period,                had you continued to be employed throughout that                time. |
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| 8.5 | The                  Company may also reasonably refuse to allow you to take holiday                  in                  circumstances where it would be inconvenient to the business. The                  Company                  reserves the right to refuse holiday up to and including the day                  before                  the holiday is due to be                  taken. |
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| 9 | **SICKNESS** |
|---|--------------|

| 9.1 | The                Company may from time to time require you to be examined by a medical                adviser nominated by the Company and you agree to provide such formal                consents as may be necessary for the results of such examinations                to be                disclosed to the Company. |
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| 10 | **TERMINATION** |
|----|-----------------|

| 10.1 | This                Contract shall commence on the day set forth in Clause 1 above and                shall                continue indefinitely, unless terminated by you or the Company as                set                forth below: |
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| 12.2 | You                may terminate this Agreement upon ninety days written notice to the                Company. The Company may terminate this contract on giving you twelve                months notice in writing (the “Notice Term”) to expire at any time. |
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| 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 comprise solely 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 national                insurance contributions 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. |
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| 10.3 | Your                employment may be terminated by the Company without notice or payment                in                lieu of notice only by reason of your gross misconduct. Examples                of gross                misconduct are set out in the Company’s Employee Handbook, and the                disciplinary and appeal procedures set forth therein shall govern                any such                circumstance. |
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| 10.4 | Upon                  the termination by whatever means of this contract you shall immediately                  return to the Company all documents, computer media, credit cards,                  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. |
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| 10.5 | In                case you fail for a period of 180 consecutive days, or for shorter                periods                aggregating more than 180 days during any twelve-month period, to                render                the services contemplated hereunder for reasons other then sickness                as                described in Section 8.2 above, then the Company, at its option,                may                terminate your employment by notice from the Company to you, effective                on                the giving of 12 months notice or terminate with immediate effect                and make                a payment in lieu of notice.In case of termination for Retirement                or                Death, you will be entitled to your earned salary, your accrued vacation                and your basic salary (at the rate payable when this option is exercised)                and to all benefits vested at the effective date of termination.                All                payments shall be subject to deductions for income tax and national                insurance contributions as appropriate. |
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| 10.6 | You                may also terminate your employment with the Company immediately upon                giving notice to the Company for Good Reason. For purposes of this                contract, Good Reason shall include a material breach by the Company                of                this contract, a reduction in your compensation, title, position                or                duties. Within five (5) business days of such termination by you,                the                Company shall pay to you in a lump sum any earned but unpaid basic                salary,                accrued vacation, one year of your basic salary (at the rate payable                when                this option is exercised), and all benefits vested at the time of                termination, subject to appropriate deductions for income tax and                national                insurance contributions |
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| 11 | **SUSPENSION** |
|----|----------------|

| 11.1 | The                Company may suspend you from your duties on full pay to allow the                Company                to investigate any complaint made against you in relation to your                employment with the Company. |
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| 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: |
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|   | 11.2.1 | Exclude                  you from the premises of the                  Company |
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|   | 11.2.2 | Require                  you to carry out only specified duties (consistent with your status,                  role                  and experience) or to carry out no                  duties |
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|   | 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) |
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|   | 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 Chief Operating Officer in                    writing |
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|   | 11.2.5 | Require                  you to comply with any other reasonable conditions imposed by the                  Company. |
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| 11.3 | You                will continue to be bound by all obligations owed to the Company                under                this contract. |
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| 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: |
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|   | 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;                  or |
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|   |   |   |
|--------|--------|--------|
|   | 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 of                  confidentiality. |
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| 12.2 | For                the purposes of paragraph 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, 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. |
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| 12.3 | This                clause shall not apply to information which                is: |
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|   | 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; |
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|   | 12.3.3 | comes                  into the public domain (otherwise than due to a default by                  you). |
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| 13 | **INTELLECTUAL                PROPERTY** |
|----|------------------------------------------|

| 13.1 | You                shall assign with full title your entire interest in any Intellectual                Property Right (defined below) to the Company to hold as absolute                owner. |
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| 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,                  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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| 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 best                advantage. |
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| 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 nominees) the full benefit of the provisions of this clause and                in                favour of any third party a certificate in writing signed by any                director                or the secretary of the Company that any instrument or act falls                within                the authority conferred by this clause and shall be conclusive evidence                that such is the case. |
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| 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. |
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| 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: |
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|   | 13.6.1 | relates                  to or is useful in connection with 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** |
|----|------------------------------------------------------------------------------|

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| 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 by                law. |
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| 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 advisers, to third parties providing products and/or services                to the                Company and as required by law. |
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| 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. |
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| 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, for the purpose of performance                management, for the purpose of monitoring 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. |
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| 18.3 | You                should be aware that no email or voice mail 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 voice mail so obtained by the                Company in the proper exercise of these powers may be disclosed without                the permission of the employee. Employees should be aware that the                emails                or voice mails 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. |
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| 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. |
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| 19 | **INDEMNITY** |
|----|---------------|

| 19.1 | 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 Agreement occurred prior to or after the date of this Agreement                  provided that you shall promptly notify the Company                  of such Proceedings and the Company shall be entitled to participate                  in                  such Proceedings 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. |
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| 19.2 | 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 a director, officer, employee, agent or fiduciary                of                the Company, by reason of any action taken by you or of any inaction                on                your part while acting as such director, officer, employee, agent                or                fiduciary or by reason of the fact that you are or were serving at                the                request of the Company as a director, officer, employee, trustee,                fiduciary or agent of another corporation, partnership, joint venture,                employee benefit plan, trust or other enterprise, 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                Agreement. |
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| 19.3 | 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, judgements, fines, penalties or amounts paid in settlement                by or                on behalf of you and any Expenses of establishing a right to                indemnification under this                Agreement. |
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| 19.4 | 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 Agreement or                otherwise. |
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| 19.5 | The                indemnification and advancement of Expenses provided by this Agreement                shall not be deemed exclusive of any other rights to which you may                be                entitled under the Company’s Articles of Incorporation or Bye-Laws, any                agreement, any vote of stockholders or disinterested directors, 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 Agreement.                To the                extent that a change in law (whether by statute or judicial decision)                permits greater indemnification by agreement than would be afforded                currently under the Company's Articles of Incorporation, Bye-Laws                and this                Agreement, it is the intent of the parties hereto that you shall                enjoy by                this Agreement the greater benefit so afforded by such change. The                provisions of this Section 20 shall survive the expiration or termination,                for any reason, of this Agreement and shall be separately                enforceable. |
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| 20 | **POST-EMPLOYMENT                RESTRICTIONS** |
|----|-------------------------------------------------|

| 20.1 | You                agree for a period of 12 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 the Company and with which you were actively involved                in the                twelve months preceding the termination of your employment (the                **“Restricted                Business”**)                within the territories of operation of the CME                Group; |
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| 20.2 | You                agree, in connection with the carrying on of the Restricted Business,                that                for a period of 12 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 solicit or canvass for business                from any person, firm or company who at any time during the twelve                months                preceding the termination of your employment was a customer of the                Company                or any Associated Company and with whom during that period you had                material dealings; |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.3 | You                agree, in connection with the carrying on of the Restricted Business                that                for a period of 12 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 was a                customer                of the Company or any Associated Company and with whom during that                period                you had material dealings. |
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| 20.4 | You                agree for a period of 12 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. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.5 | 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. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.6 | For                the avoidance of doubt these restrictions shall not apply if the                Company                terminates this contract in breach. |
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| 20.7 | For                  the purposes of this clause and clause 13,                  **“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 any holding company. |
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| 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. |
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| 21.3 | This                shall be governed by and construed in accordance with English                law. |
|------|-------------------------------------------------------------------------------------------------------|

| Executed                as a Deed by Michael Garin and Mark Wyllie,              |   | /s/                Michael Garin           |   |
|----------------------------------------------------------------------------------|--------|--------------------------------------------|--------|
| representing              CME Development Corp. in the              presence of: |   | /s/                Mark Wyllie             |   |
| Witness                signature:                                                |   | /s/                C. Rauch                |   |
| Name:                                                                            |   | Carol                Rauch                 |   |
| Address:                                                                         |   | Aldwych                House, 81 Aldwych   |   |
|                                                                             |   | London,                WC2B 4HN            |   |
| Occupation:                                                                      |   | Legal                Assistant             |   |
|                                                                             |   |                                       |   |
|                                                                             |   |                                       |   |
|  Signed                as a Deed by Wallace Macmillan in the presence of:   |   |  /s/                Wallace Macmillan |   |
| Witness                signature:                                                |   | /s/                Jessica Yu              |   |
| Name:                                                                            |   | Jessica                Yu                  |   |
| Address:                                                                         |   | Aldwych                House, 81 Aldwych   |   |
|                                                                             |   | London,                WC2B 4HN            |   |
| Occupation:                                                                      |   | Legal                Assistant             |   |

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