----

| 1. | CME                shall cause you to be appointed as a jednotel of CET 21 s.r.o. (“CET 21”)                in the Czech Republic and as the President of the Board of Representatives                of Slovenska Televizna Spolocnost s r.o. and Markiza-Slovakia s.r.o.                As                jednotel, you shall be entitled to be reimbursed by CET 21 for reasonable                expenses incurred in respect of the performance of your duties under                this                mandate. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | The                term of such appointment is effective from February 2006 and remuneration                shall be as follows. |
|----|----------------------------------------------------------------------------------------------------------------------------------|

|  | Base                  fee: | US                  $ 500,000 per annum, payable quarterly (or as                  agreed) |
|--|----------------------------|--------------------------------------------------------------------------------------------|

|  | Bonus: | (a) | US$                  1 million if the EBITDA results reported for both the Czech Republic                  and                  Slovak Republic operations for 2006 and 2007 are equal to the aggregate                  EBITDA target for the 2006 and 2007 fiscal years for those operations;                  and |
|--|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | 10%                  of any amount by which the EBITDA results for both the Czech Republic                  and                  Slovak Republic operations for 2006 and 2007 exceed such aggregate                  EBITDA                  target for the 2006 and 2007 fiscal years for those operations,                  up to a                  maximum bonus of US$ 5 million. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | CME                shall cause CET 21 to enter into a contract for the performance of                office                (together with any required amendments thereto, the “CET 21 Contract”))                with you. CET 21 shall be responsible for the payment of your base                fee and                pro rated portion of your bonus hereunder. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 4. | In                the event CME directly or indirectly terminates this appointment                (other                than for Cause as such term is defined in the CET 21 Contract) or                procures                the termination of your CET 21 Contract prior to December 31, 2007,                you                shall be entitled to receive your base fee for the entire period                and any                bonus payable hereunder on the terms specified in paragraph 2. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | In                the event you elect to voluntarily terminate this appointment prior                to                December 31, 2007, you will provide CME with three months prior written                notice. You are entitled to receive you base fee through the date                of                termination. In the event your date of voluntary termination is after                January 1, 2007, you shall also be entitled to a bonus on terms to                be                agreed. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | As                the bonus calculation is dependent on the results of our operations                as                published in our Form 10-K, no bonus will be payable prior to the                publication of such results for the he fiscal year ending December                31,                2007, as applicable. We will endeavour to agree the amount of the                bonus as                soon as reasonably practicable after the publication of those results                and                take such steps as are reasonably necessary to any bonus that is                payable                to be paid by CET 21. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | This                Letter will be governed by, and construed in accordance with, English                law.                You agree to submit to the exclusive jurisdiction of the courts of                England                and Wales in respect of any dispute                hereunder. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | CME                and you agree to keep confidential this Letter and the terms and                conditions contained herein. Neither CME nor you shall make any public                announcements relating to the matters herein without the prior written                consent of the other, subject to the requirements of any law or the                rules                of any stock exchange or regulatory                authority. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Sincerely,                                    |
|-----------------------------------------------|
|                                          |
|                                          |
| /s/  Michael                  Garin |
| Michael                  Garin                |
| Chief                  Executive Officer      |
|                                          |
| Agreed,                                       |
|                                          |
|                                          |
| /s/                   Adrian Sarbu       |
| Adrian                  Sarbu                 |

----