Exhibit 4(14)

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SHARE SALE AND PURCHASE
      AGREEMENT
between

Reto-Moto ApS
andEgmont Holding A/S
andMorten Borum, Henning Semler,
Martin Guldbæk, Thomas Jakobsen, Hakon Steinø
Rune Maagaard Brinckmeyer and Jens Peter Kurup

("the Sellers")
and

Eidos plc
("the Buyer")

concerningIO Interactive A/S



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CONTENTS

|1.  |  |  | Definitions                                          |    |  |  | 8  | 
|--- |  |  | ---------------------------------------------------- | -- |  |  | -- | 
|2.  |  |  | Sale and Purchase, Pre-Completion Issuance of Shares |    |  |  | 12 | 
|3.  |  |  | Purchase Price                                       |    |  |  | 13 | 
|4.  |  |  | Payment of Purchase
    Price                        | 14 | 
|5.  |  |  | Completion                                           |    |  |  | 18 | 
|6.  |  |  | Sellers' Representations
    and Warranties          | 23 | 
|7.  |  |  | Liability                                            |    |  |  | 40 | 
|8.  |  |  | The Buyer's Representations
    and Warranties       | 43 | 
|9.  |  |  | Post-Completion
    Compulsory Buy-Out Procedure     | 45 | 
|10, |  |  | Earn Out                                             | 46 | 
|11. |  |  | Covenants                                            |    |  |  | 54 | 
|12. |  |  | Confidentiality                                      |    |  |  | 55 | 
|13. |  |  | Restrictive Covenant                                 |    |  |  | 57 | 
|14. |  |  | Joint and Several
    Liability                      | 58 | 
|15. |  |  | Choice of Law and
    Venue                          | 59 | 
|16. |  |  | General Provisions                                   |    |  |  | 59 | 

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SCHEDULES

|Schedule 1.1.11       | Agreed Form Escrow Agreement                                          
|--------------------- | ----------------------------------------------------------------------
|                      |                                                                       
|Schedule 1.1.12       | Final Management Accounts                                             
|                      |                                                                       
|Schedule 1.1.13       | Initial Management Accounts                                           
|                      |                                                                       
|Schedule 1.1.19       | List of Residual Shareholders                                         
|                      |                                                                       
|Schedule 2.1          | Specification of Sellers'
    Shares sold under the Agreement         
|                      |                                                                       
|Schedule 2.3 (i)      | Agreed Form Agenda for
        a general
meeting                      
|                      |                                                                       
|Schedule 2.3 (ii)     | Agreed Form Resolution
    regarding issuance of B shares to the Buyer
|                      |                                                                       
|Schedule 4.1          | Settlement of the Purchase
    Price                                  
|                      |                                                                       
|Schedule 4.4          | Security Deposit Agreement                                            
|                      |                                                                       
|Schedule 4.4 (i)      | List of seven main shareholders
    in Seller 1                       
|                      |                                                                       
|Schedule 5.2.1.6 (i)  | List of employees who have
    signed new employment contracts        
|                      |                                                                       
|Schedule 5.2.1.6 (ii) | New Employment contracts                                              



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|Schedule 5.2.1.8  | Addendum signed by the
    Danish Investment Fund for Central and Eastern Europe
|----------------- | --------------------------------------------------------------------------------
|                  |                                                                                 
|Schedule 5.2.1.9  | List of contracts including
    change of control provisions                    
|                  |                                                                                 
|Schedule 5.2.1.14 | Legal Opinion from Asger
        Heine
Jensen and Vagn Thorup                   
|                  |                                                                                 
|Schedule 6.4.2    | List of the Company's contingent
    liabilities                                
|                  |                                                                                 
|Schedule 6.5.2.1  | List of equipment, machinery,
    tools, fixtures and fittings and furniture    
|                  |                                                                                 
|Schedule 6.5.2.2  | List of major production
    contracts                                          
|                  |                                                                                 
|Schedule 6.5.2.3  | Specification of shares
        in IO
Interactive Hungary Kft                   
|                  |                                                                                 
|Schedule 6.5.2.4  | List of intellectual property
    rights                                        
|                  |                                                                                 
|Schedule 6.5.4    | List of leased assets                                                           
|                  |                                                                                 
|Schedule 6.7.2    | List of Hitman Agreements                                                       
|                  |                                                                                 
|Schedule 6.8.11   | List of the Company's obligations
    to pay royalties etc.                     
|                  |                                                                                 
|Schedule 6.9.1    | List of Employees                                                               
|                  |                                                                                 
|Schedule 6.9.7    | List of outstanding offers
    of
employment or consultancy                     



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|Schedule 6.11.3   | List of lawsuits, arbitration
    proceedings etc.                                          
|----------------- | --------------------------------------------------------------------------------------------
|                  |                                                                                             
|Schedule 6.12.1   | List of Insurance Policies                                                                  
|                  |                                                                                             
|Schedule 6.13     | List of leased real estate                                                                  
|                  |                                                                                             
|Schedule 6.14.1   | Due Diligence List                                                                          
|                  |                                                                                             
|Schedule 6.15.3   | List of persons with actual
    knowledge                                                   
|                  |                                                                                             
|Schedule 6.15.4   | Disclosure Letter                                                                           
|                  |                                                                                             
|Schedule 6.15.7   | Findings of the Buyer                                                                       
|                  |                                                                                             
|Schedule 7.8      | Performance guarantee                                                                       
|                  |                                                                                             
|Schedule 9.2      | Petition for roll over of
    tax treatment (to be submitted between Signing and Completion)
|                  |                                                                                             
|Schedule 10.2.3.3 | Cost base and illustration
    of increase of costs under the Earn Out Scheme               
|                  |                                                                                             
|Schedule 10.7     | Illustration of participation
    in the Earn Out Scheme                                    
|                  |                                                                                             
|Schedule 10.9     | Capitalization of the Earn
      Out
Scheme                                                 

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On 3 March 2004, this Share
Sale and Purchase Agreement (“this Agreement”) has been made between

Reto-Moto ApS, CVR No. 73 64 68 12, c/o DELACOUR, Hammerensgade 1, 2., 1267-Copenhagen K
(“Seller 1”)

and

Egmont Holding A/S, CVR No. 67 14 32 13, Vognmagergade 11, DK-1148 Copenhagen K
(“Seller 2”)

and

Morten Borum, Lindegårdsvej
    46, 2.tv., 2920 Charlottenlund
  Henning Semler, Arnesvej 50, st., 2700 BrønshøjMartin Guldbæk, Rosenvængets
Hovedvej 23 A, 2100 Copenhagen ØThomas Jakobsen, Pinievangen 114, 3450 Allerød
Hakon Steinø, Vesterbrogade
119 A, 1.th., 1620 Copenhagen VRune Maagaard Brinckmeyer, Skjoldagervej
80, 1.th., 2820 Gentofte and
Jens Peter Kurup, Carl Plougs Vej 5, st.th.,
1913 Frederiksberg C
(“Key Employees”)

(Seller 1, Seller 2 and Key
Employees collectively referred to as the “Sellers”)

and

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Eidos plcWimbledon Bridge House
1 Hartfield RoadWimbledonGB-London SW 19 3RU
  (the “Buyer”)

WHEREAS, the Buyer, a company
    listed on the London Stock Exchange, desires to purchase all of the issued
    and to be issued shares (“the Shares”) of IO Interactive A/S
    (CVR No. 24246209), having its head office at Kalvebod Brygge 35-37,
1560 Copenhagen V (the “Company”);

WHEREAS Seller 1, Seller 2 and
    the Key Employees desire to sell their Shares representing the nominal value
    of respectively DKK 250,000.00, DKK 250,000.00 and the aggregate nominal
    value of DKK 51,620.00 as specified in Schedule 2.1 or in total DKK
    551,620.00 to the Buyer;

WHEREAS, the Buyer at Completion
    will be the owner of more than 90 per cent of the Shares through purchase
    of the Sellers Shares and through a directed issue of B-shares in the
Company to the Buyer between Signing and Completion;

WHEREAS the Buyer following Completion will offer the Residual Shareholders to sell their Shares against their proportionate share of the purchase price by way of Compulsory Buy-Out; and

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WHEREAS the shareholders of
    Seller 1 and the Key Employees also own shares within the Employee Share
    Plan, in respect of which the shareholders of Seller 1 and the Key Employees
    form
part of the Residual Shareholders.

NOW THEREFORE, it is hereby
agreed as follows:

|1.    | Definitions                                                                                                        
|----- | -------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                    
|1.1   | Definitions                                                                                                        
|      |                                                                                                                    
|      | In this Agreement, the following
    terms and expressions shall have the following meanings:                      
|      |                                                                                                                    
|1.1.1 | “Annual Accounts” shall
    mean the audited annual accounts for the Company for the financial years
    2001-2003.

|      |                                                                                                                                                                                     
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|1.1.2 | “Business Day” shall
    mean a day other than Saturday and Sunday on which banks are open for business
    in Copenhagen and London for the transaction of normal banking business.

|      |                                                                            
|----- | ---------------------------------------------------------------------------
|1.1.3 | “Buyer” shall have
    the meaning set forth in the head of this Agreement.

|      |                                                                                                             
|----- | ------------------------------------------------------------------------------------------------------------
|1.1.4 | “Company” shall
    mean IO Interactive A/S, CVR. No. 24216209, Kalvebod Brygge 35-37,1560 Copenhagen
    V.

|      |                                                                                                         
|----- | --------------------------------------------------------------------------------------------------------
|1.1.5 | “Completion” shall
    mean the parties’ performance of their deliverables as laid down in Clause
    5.

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|1.1.6 | “Compulsory Buy-Out” shall mean the Buyer’s purchase of the Residual Shareholders’ Shares upon Completion in accordance with Sec. 20(b)–(c)
    of the Danish Act on Public Companies.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|       |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|1.1.7  | “Control” shall
      mean owing directly or indirectly more than 50 per cent of the share capital
    and the voting rights or over whom a company has the management control.                                                                                                                                                                                                                                                    
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|1.1.8  | “Dividend” shall
    have the meaning set out in Clause 3.1.2.                                                                                                                                                                                                                                                                                                                                                                     
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|1.1.9  | “Due Diligence Documentation” shall
    have the meaning set out in Clause 6.14.1                                                                                                                                                                                                                                                                                                                                                  
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|1.1.10 | “Eidos Shares shall
    mean shares issued by the Buyer.                                                                                                                                                                                                                                                                                                                                                                           
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | The Eidos Shares shall rank
      pari passu in all respects with the existing ordinary shares in the capital
      of the Buyer and any dividend declared or paid by reference to a record
      date falling on or after the date of the registration in the statutory
      register of members of the Buyer shall rank as if they had been issued
    fully paid on the beginning of the period in which such dividend is paid.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                    
|       | The Eidos Shares shall be allotted
    and issued to the relevant Sellers on Completion and the names of the relevant
    Sellers shall be entered (with effect from Completion) into the Buyer’s statutory
    register of members as the holder of such number of Eidos Shares issued to
    them under this Agreement.                                                                                                          

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| | The Buyer shall use its best
    endeavours to procure that the Eidos Shares are admitted to the official
    list of the UK Listing Authority and to trading on the London Stock Exchange
    as soon as reasonable practicable after Completion.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 
| | 

| | The entry in the statutory
    register of members of the Buyer and the certificates in respect of the Eidos
    Shares shall (when made or issued) carry an endorsement that the Eidos Shares
    are subject to the restrictions set out in this Agreement and the terms of
    the Security Deposit Agreement.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|       |                                                                             
|------ | ----------------------------------------------------------------------------
|1.1.11 | “Escrow Agreement” shall
    mean the agreed form set out in Schedule 1.1.11

|       |                                                                                                                                                          
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------
|1,1.12 | “Final Management Accounts” shall
    mean Initial Management Accounts updated per 26 March 2004 to be attached
    to this Agreement as Schedule 1.1.12.

|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|1.1.13 | “Initial Management
    Accounts” shall mean the un-audited management accounts for the Company
    for the period 1 January  31
    January 2004 including balance sheet, cash flow and profit and loss account
    prepared in accordance with the continuous use of the accounting principles
    applied by the Company in its audited statutory annual accounts for the financial
    year ended 31 December 2003 with the exception of IO Interactive Hungary
    Kft which should be shown as an investment attached to this Agreement as Schedule
    1.1.13.

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|1.1.14 | “Intellectual Property Rights” shall
    mean the rights specified in Clause 6.5.2.4.                                                                                                                                                                                                                                                                                               
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.15 | “Interest Payment” shall
    have the meaning specified in Clause 3.1.1.                                                                                                                                                                                                                                                                                                            
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.16 | “Ivory Employee Share
      Plan” shall mean the employee share plan under which the Residual
      Shareholders have subscribed for Shares in the Company in accordance with
    the existing Danish Act on Tax Assessment (in Danish  “Ligningsloven”).                                                                                                                           
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.17 | “Management Accounts” shall
      mean the Initial Management Accounts and the Final Management Accounts
    jointly.                                                                                                                                                                                                                                                               
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1,1.18 | “Notice” shall
    have the meaning set forth in Clause 16.1.1.                                                                                                                                                                                                                                                                                                                     
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.19 | “Party” and/or “Parties” shall
    mean the parties of this Agreement.                                                                                                                                                                                                                                                                                                              
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.20 | “Purchase Price” shall
    mean the amount referred to in Clause 3.1.1.                                                                                                                                                                                                                                                                                                             
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.21 | “Residual Shareholders” shall
      mean all current and former employees owning Shares under the Employee
      Share Plan as listed in Schedule, 1.1.21. For the purposes
      of this Agreement, the Key Employees and the individual shareholders of
      Seller 1 are to be considered Residual Shareholders to the extent they
    own Shares under the Employee Share Plan.
|       |                                                                                                                                                                                                                                                                                                                                                                                     
|1.1.22 | “Security Deposit Agreement”
    shall have the meaning set forth in Clause 4.4 and Schedule 4.4.                                                                                                                                                                                                                                                                                   

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|1.1.23 | “Sellers” shall
    have the meaning set forth in the head of this Agreement.                                                                                                                                              
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                            
|1.1.24 | “Sellers Knowledge” shall
    have the meaning set forth in Clause 6.15.3                                                                                                                                                  
|       |                                                                                                                                                                                                                            
|1.1.25 | “Sellers' Representations
    and Warranties” shall
    mean the representations and warranties of the Sellers as set out in Clause
    6.                                                                                 
|       |                                                                                                                                                                                                                            
|1.1.26 | “Shareholders” shall
      mean any and all of the Company’s direct shareholders at the execution
    and Completion of this Agreement with the exception of the Buyer itself.                                             
|       |                                                                                                                                                                                                                            
|1.1.27 | “Shares” shall
      mean shares issued by the Company of an aggregate nominal value of DKK
      616,580.00 whereas the shares in the Company owned by the Buyer at Completion
    are not to be included.                
|       |                                                                                                                                                                                                                            
|1.1.28 | “Signing” shall
      mean the signing of this Agreement representing a binding conditional exchange
    of contracts.                                                                                                     
|       |                                                                                                                                                                                                                            
|1.1.29 | “Warrants” shall
      mean the warrants issued by the Company of an aggregate nominal value of
    DKK 4,210.00.                                                                                                          
|       |                                                                                                                                                                                                                            
|2.     | Sale and Purchase, Pre-Completion
    Issuance of Shares                                                                                                                                                                   
|       |                                                                                                                                                                                                                            
|2.1    | Sale and Purchase                                                                                                                                                                                                          
|       | Subject to the conditions
      and terms of this Agreement, the Sellers hereby sell their respective block
      of Shares as specified in Schedule 2.1 of the aggregate nominal
    value of DKK 551,620.00 to the Buyer.

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|      | The sale and transfer of the Sellers’ Shares shall comprise any and all rights pertaining to these shares, including, without limitation, the title, the voting rights and the right to receive dividends except from the Dividend referred to in Clause 3.1.2 below.                                                                                                                                                                                                                                                                        
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|2.2   | Title                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|      | At Completion, the Buyer
    receives title to the Sellers’ Shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|2.3   | Pre-Completion
    Issuance and Subscription of Shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|      | Upon Signing, the Company
      shall convene for a general meeting with an agenda in the agreed form set
      out in Schedule 2.3 (i). At the general meeting, the Sellers shall
      vote in favor of the resolutions set forth in Schedule 2.3 (ii), including
      without limitation a directed issuance of B–shares of a nominal value
      of DKK 40,000 to the Buyer at a share price of 105, and the Buyer shall
    subscribe and pay in the subscribed share capital in accordance herewith.                                  
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|3.    | Purchase
    Price                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|3.1   | Purchase
Price                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|3.1.1 | The purchase price for the
      Shares shall be GBP 23.0 million, in words twenty-three million British
      sterling pounds, equivalent to a share price of app. GBP 370.495658 per
      share of nominal DKK 10.0. In addition to the Purchase Price the Sellers
      are entitled to receive an additional payment equivalent to interest
      on the cash part of the Purchase Price cf. Clause 4.1 calculated from
      the date of registration of the new shares of the Company to be issued
    to the Buyer in accordance with

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|      | Clause 2.3 and until Completion
    (the “Interest Payment”). The interest rate shall amount to 3.66
    per cent per year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|3.1.2 | Dividend                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|      | Prior to Completion, the
      Shareholders shall be entitled to declare a dividend from the Company in
      the fixed amount of GBP 850,000, in words eight-hundred-and-fifty-thousand
      British sterling pounds, relating to the financial year of the Company
      ended 31 December 2003 (  “the Dividend  “) provided that the necessary
      free reserves are available in the Company cf. Sec.110 of the Danish
      Act on Public Companies. The Buyer shall procure that the Company not later
      than 5 Business Days after Completion makes effective payment of the Dividend
      to the Shareholders in accordance with their shareholdings at the time
    of the Dividend being declared.
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|4.    | Payment of
    Purchase Price                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|4.1   | Purchase Price
    Settlement Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|      | Each of the Sellers have
      been offered and the Residual Shareholders will be offered to receive their
      proportionate share of the Purchase Price in either cash, Eidos Shares
      or in a combination of cash and Eidos Shares but the Buyer has however
      reserved the right to settle any part of the Purchase Price in cash only
      at the full discretion of the Buyer. The Sellers have requested to receive
      and the Buyer has agreed to settle their proportionate share of the Purchase
      Price in cash and/or Eidos Shares in the proportions reflected in Schedule
    4.1.                                                                                                    

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|4.2 | Eidos Share
    Price Fixation                                                                                                                
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------
|    | Eidos Shares will be valued
    by way of reference to the 10 (ten) day mid-market completion price average
    prior to 1 day before Signing.

|      |                                                                                                
|----- | -----------------------------------------------------------------------------------------------
|4.3   | Payment of the Purchase Price
    and the Interest Payment                                     
|      |                                                                                                
|4.3.1 | At Completion, the Purchase
    Price shall, subject to Clauses 4.4-4.5, be settled as follows:

|        |                                                                                                                                                                                                                                                              |  |     |             
|------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | --- | ------------
|4.3.1.1 | The Buyer shall to Seller 1 (i) pay into
Seller 1’s account with Nordea Bank Danmark
A/S, Corporate Banking Department Copenhagen, Vesterbrogade 8, PO Box 850, DK-0900
    Copenhagen C, reg. no. 2191, account no. 5036057744, IBAN NO. DK8620005036057744 |  | GBP | 8,081,391.00
|        | and (ii) 700,000 Eidos
      Shares (281,955 shall be transferred to the Compensation Escrow) having
      a value (as computed pursuant to Clause 4.2) equivalent to                                                                                        |  | GBP | 931,000.00  
|        | and (iii) pay into Nordea
    Bank Danmark A/S in accordance with the Escrow Agreement                                                                                                                                                                       |  | GBP | 250,000.00  
|        |                                                                                                                                                                                                                                                              |  |     |             
|4.3.1.2 | The Buyer shall to Seller
      2
pay in cash into Seller 2’s account with Nordea Bank Danmark A/S, account no.
    5005-503368, IBAN NO 1920005005503368 and                                                                                                |  | GBP | 8,637,391.00

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|        | (ii) pay into Nordea Bank
    Danmark A/S in accordance with the Escrow Agreement                                                                                                                                                                                                                                                |  | GBP | 625,000.00   
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --- | -------------
|        |                                                                                                                                                                                                                                                                                                                                  |  |     |              
|4.3.1.3 | The Buyer shall to the Key
    Employees (i) pay into Key Employees bank accounts as specified in Schedule
    4.3.2.3 in total specified in accordance with Schedule 4.1 and (ii)                                                                                                                                               |  | GBP | 833,191.00   
|        | 811,509 Eidos Shares as specified
      in Schedule 4.1 having an aggregate value (as computed pursuant to clause
    4.2) equivalent to                                                                                                                                                                                         |  | GBP | 1,079,307.00 
|        |                                                                                                                                                                                                                                                                                                                                  |  |     |              
|4.3.1.4 | The Buyer shall to the holders
      of the Warrants pay into Jyske Bank, reg. no. 7255, account no.
    00 01 32 00 95                                                                                                                                                                                                          |  | GBP | 155,979.00   
|        |                                                                                                                                                                                                                                                                                                                                  |  |     |              
|4.3.1.5 | Remaining purchase price
      payable to the Residual Shareholders in either cash and/or Eidos Shares
      having a value (as computed pursuant to Clause 4.2) (subject to such discretion
      reserved by the Buyer as provided for in Clause 4.1) in accordance with
    Sec. 20(b)-(c) of the Danish Public Companies Act |  | GBP | 2,406,740.00 
|        |                                                                                                                                                                                                                                                                                                                                  |  |     |              
|4.3.1.6 | The Purchase Price, total                                                                                                                                                                                                                                                                                                        |  | GBP | 23,000,000.00
|        |                                                                                                                                                                                                                                                                                                                                  |  |     |              
|        | In addition thereto the Interest
    Payment shall be paid to the Sellers to Jyske Bank,                                                                                                                                                                                                                                         |  |     |              

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| | account no. 00 01 32 00 95, SWIFT-BIC: JYBADKKK (to be split between the Sellers in accordance with their proportionate cash part of the Purchase Price). |  |  | 
| | --------------------------------------------------------------------------------------------------------------------------------------------------------- |  |  | 
| |                                                                                                                                                           |  |  | 
| | All cash payments shall be
      effected by wire transfer of same day funds to the relevant accounts specified
    in Clauses 4.3.2.1 - 4.3.2.4.         |  |  | 

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|4.4 | Eidos Share Retention Period
    in respect of Seller 1 and its shareholders The Eidos Shares acquired by
    Seller 1 in accordance with Clauses 4.1 and 4.3 shall be subject to retention
    in accordance with Clause 4.6 until the Buyer’s announcement of its
    30 June 2005 year-end results, which is anticipated to take place in September
    2005,
    subject to any sale effectuated by the Buyer in accordance with the Escrow
    Agreement. In the event that Seller 1 is de-merged, the seven main shareholders
    in Seller 1 as designated in Schedule 4.4 shall each take over Eidos
    Shares in accordance with their proportionate shareholdings in Seller 1 subject
    to the terms and conditions of this Agreement and the Security Deposit Agreement.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|4.5 | Eidos Share
    Retention Period in respect of the Key Employees                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|    | The Eidos Shares acquired
      by the Key Employees shall be subject to retention until 31 October 2004
      except for 25,000 Eidos Shares per Key Employee. The latter block of Eidos
      Shares (25,000 per Key Employee) shall be subject to retention until
    1 April 2005 in accordance with Clause 4.6.                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

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|4.6 | Security Deposit during Retention                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    | For the duration of the retention
    period, the Eidos Shares referred to in Clauses 4.4-4.5 are placed in a security
    deposit with Nordea Bank Danmark on terms set out in the Security Deposit
    Agreement. Seller 1 and the Key Employees undertake to make sales of their
    Eidos Shares following expiry of the retention period only through brokers
    designated by the Buyer, subject to such brokers charging competitive commission
    and providing best execution.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|5.  | Completion                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|5.1 | Completion                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|    | Subject to the satisfaction
      of the conditions precedent below in Clause 5.2, Completion shall take
      place at a meeting (“the Completion Meeting”) at the offices
      of Plesner Svane Grønborg, Amerika Plads 37, 2100 Copenhagen Ø,
      on 31 March 2004 at 1 p.m. CET or such later date as the parties may agree.
      In the event of any circumstances barring any of the conditions precedent
      below from being fulfilled, both parties shall until 1 May 2004 be mutually
      obliged to seek to remedy the hindrance in question. In the absence of
      all conditions precedent being met by the relevant party by 1 May 2004
      (or waived by the other party) this Agreement shall become null and void
      and the parties shall be entitled to claim damages in accordance with applicable
      Danish law (however the Buyer shall not be entitled to claim damages in
      the event the Sellers can not fulfill the condition precedent set out in
    Clause 5.2.1.18). At Signing, the Buyer shall sign a

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| | Memorandum
    thereby confirming that the Sellers’ deliveries set forth in Clauses
    5.2.1.2, -5.2.1.4  5.2.1.7 and have been delivered, and the Sellers
    shall sign a Memorandum thereby confirming that the Buyer’s deliveries set
    out in Clauses 5.2.1.2  5.2.2.4
    have been delivered.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|    |                                                                                                                                                                                                                                     
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|5.2 | Completion
Meeting                                                                                                                                                                                                                  
|    | At the Completion Meeting, the Parties shall make the following deliveries or procure the following deliveries to be made (as the case may be) and perform or procure the performance of (as the case may be) the following actions:

|        |                                                                                                                                                                                                                                                                                                
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|5.2.1   | At the Completion Meeting
      the
Sellers shall                                                                                                                                                                                                                                              
|        |                                                                                                                                                                                                                                                                                                
|5.2.1.1 | Deliver to the Buyer the Company’s
    original register of shareholders evidencing the due registration of the
    Buyer’s clear title to the Sellers’ Shares (except from their Shares under
    the Employee Share Plan, the shares of which will be subject to the Compulsory
    Buy-Out).

|        |                                                                                                                                                                                           
|------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|5.2.1.2 | Deliver to the Buyer documentary
    evidence of the due compliance with the board approval requirement in the
    Company’s articles of association regarding the transfer of the Shares.

|        |                                                                                                                                                            
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------
|5.2.1.3 | Deliver to the Buyer documentary
    evidence of the resignation effective as at Completion by the Company’s
    current members of the board of directors.
|        |                                                                                                                                                            
|5.2.1.4 | Deliver to the Buyer documentary
      evidence of the Sellers’ due execution of the Escrow Agreement.                                                     

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|5.2.1.5 | Deliver to the Buyer documentary
        evidence of Seller 1’s and the Key Employees’ due execution of the
        Security Deposit Agreement.
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                

|5.2.1.6 | Deliver to the Buyer documentary
        evidence that the employees of the Company listed in Schedule 5.2.1.6
        (i) (including the Key Employees and the shareholders of Seller 1)
        each have signed new employment contracts with the Company as set out
        in Schedule 5.1.2.6 (ii).
|------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                          

|5.2.1.7 | Deliver documentary evidence
        that the Warrants have been transferred to the Buyer.
|------- | ------------------------------------------------------------------------------------------
|        |                                                                                           

|5.2.1.8 | Deliver documentary evidence
        that the Danish Investment Fund for Central and Eastern Europe has waived
        their right to demand that the Company acquires the Fund for Central
        and Eastern Europe's shares in IO Interactive Hungary kft due to the
        transfer of the Shares in the Company and signed the Addendum as set
        out in Schedule 5.2.1.8.
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                       

|5.2.1.9 | Deliver documentary evidence
        that the transfer of Shares to the Buyer has not caused any of the Company’s
        contracting parties listed in Schedule 5.2.1.9 to terminate their
        contracts with the Company.
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                

|5.2.1.10 | Deliver the draft annual
        accounts of the Company for the financial year ended 31 December 2003.
|-------- | -------------------------------------------------------------------------------------------------------
|         |                                                                                                        

|5.2.1.11 | Deliver the final annual
        accounts of the Company for the financial year ended 31 December 2003
        (in unchanged form compared to the draft cf. Clause 5.2.1.10) including
        an unqualified report from the auditor of the Company and documentary
        evidence that the annual accounts
|-------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | of the Company for the
        financial year ended 31 December 2003 have been approved by the board
        of the Company and the general meeting and delivered to the Danish Commerce and Companies House
        in due time.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 
| | 

|5.2.1.12 | Deliver documentary evidence
        that the domain names HITMANCONTRACTS.COM,FREEDOMFIGHTERS2.COM and
        FREEDOM
        FIGHTER2.COM have
        been transferred to the Company.
|-------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                           

|5.2.1.13 | Deliver documentary evidence
        that all Shareholders have been invited (in accordance with the articles
        of association of the Company) to participate in an extraordinary general meeting
        of the Company to take place on Completion for the purpose of election
        of new board members of the Company.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                    

|5.2.1.14 | Deliver documentary evidence
        that the issuance of B-shares in the Company by nominally DKK 40,000
        at a share price of 105 to the Buyer has been registered by the Danish
        Commerce and Companies Agency including legal opinion from Asger Heine
        Jensen and Vagn Thorup in the form set out in Schedule 5.2.1.14.
|-------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                                 

|5.2.1.15 | Deliver confirmation from
        the Sellers that, in the period between Signing and Completion, there
        have to the Sellers’ Knowledge occurred no material adverse change,
        which is reasonably likely to result in (1) a material decrease of the
        book equity value of the Company or (2) a material reduction of the operating
        profits of the Company.
|-------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|5.2.1.16 | Deliver confirmation from
        the Sellers’ that to the best of Sellers’ Knowledge, the
        Seller’s Warranties are true and correct as of Completion.
|-------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                              

|5.2.1.17 | Deliver the Final Management
        Accounts prepared by the Company in accordance with the preparation of
        the Initial Management Accounts and approved by the Buyer (the approval
        of which can not be unreasonable withheld by the Buyer).
|-------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 
| | 

|5.2.1.18 | Deliver documentation
          that the Company has no obligation to develop any games including additional
        products (except from Freedom Fighters) to Electronic Arts Inc.
|-------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 
| | 

|5.2.1.19 | Deliver to the Buyer such
        other documents and instruments as the Buyer may reasonably request in
        order to properly perfect the Buyer’s rights under this Agreement.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                    
|5.2.2    | At the Completion Meeting
        the Buyer shall                                                                                                                                  

|5.2.2.1 | Deliver to the Sellers
        documentary evidence of the satisfaction of the Purchase Price as specified
        in Clause 4.
|------- | -------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                

|5.2.2.2 | Deliver to the Sellers
        documentary evidence of its board approval of the transactions set out
        in this Agreement;
|------- | --------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                 

|5.2.2.3 | Deliver to the Sellers
        documentary evidence of the Buyer’s due execution of the Escrow Agreement.
|------- | ---------------------------------------------------------------------------------------------------------

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|5.2.2.4 | Deliver to the Sellers
        documentary evidence of the Buyer’s due execution of the Security Deposit
        Agreement.                                                                                                           
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                       
|5.2.2.5 | Deliver to the Sellers:                                                                                                                                                                                                               
|        |                                                                                                                                                                                                                                       
|        | 1. Board minutes of
          the Buyer recording:                                                                                                                                                                                    
|        |                                                                                                                                                                                                                                       
|        | (a) the allotment and
          issue of the Eidos Shares; and                                                                                                                                                                        
|        |                                                                                                                                                                                                                                       
|        | (b) an instruction to
          the Buyer's registrars that the names of the relevant Sellers be entered
          into the statutory register of members of the Buyer; and                                                           
|        |                                                                                                                                                                                                                                       
|        | 2. A copy of a letter
          to the Buyer's brokers instructing them to apply for the Eidos Shares
          to be admitted to the official list of the UK Listing Authority and
          to trading on the London Stock Exchange.
|        |                                                                                                                                                                                                                                       

|5.2.2.6 | Deliver to the Sellers
        such other documents and instruments as the Sellers may reasonably request
        in order to properly perfect the Sellers' rights under this Agreement.
|------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                         

|6.  | Sellers’ Representations
          and Warranties                                                                                                                                                                                               
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                 
|6.1 | Representations and Warranties                                                                                                                                                                                                                  
|    | By executing this Agreement,
        the Sellersmakethe
        following representations and warranties (“the Representations
        and Warranties”) to the Buyer as of Signing which will be repeated and
        restated as of Completion:
|    |                                                                                                                                                                                                                                                 
|6.2 | Validity, Execution, No
        Breach                                                                                                                                                                                                          

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|6.2.1 | The Sellers have full power
        and authority to enter into their obligations under this Agreement including
        Schedules.
|----- | -----------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                    

|6.2.2 | This Agreement including
        Schedules constitutes a valid and binding obligation on partof
        the Sellers and is enforceable in accordance with its terms.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                     

|6.2.3 | The execution and performance
        of this Agreement and the consummation of the transactions contemplated
        hereby will not (i) violate any order, judgment, injunction, award, or
        decree of any court, arbitrator, or governmental or regulatory body against,
        or binding upon, the Sellers or the Company; or (ii) violate any statute,
        law, or regulation applicable to the Sellers or the Company.
|----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                         

|6.3   | Corporate Matters                                                                                                                                                                                                                   
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.3.1 | The Company is duly organized
        and incorporated and validly existing under the laws of Denmark and the
        name and the registration number of the Company is correctly set out
        in the definition of the Company.
|      |                                                                                                                                                                                                                                     

|6.3.2 | The Company is not in violation
        of any corporate rules applicable and has the corporate power and lawful
        authority to own, lease, and operate its assets and business and to
        carry on its business as now being conducted.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                   

|6.3.3 | The Company is duly qualified
        or licensed in all material respects to conduct the business it is currently
        conducting in Denmark and Hungary to the extent such qualification or
        licensing is necessary and, in
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | particular, holds all authorizations, permits, and licenses to lawfully carry on such business.
| | -----------------------------------------------------------------------------------------------
| |                                                                                                

|6.3.4 | Upon the B-Share issuance
    in favor of the Buyer, the nominal share capital of the Company amounts to
    DKK 616,580.00 A-Shares and DKK 40,000 B-Shares.
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                              

|6.3.5 | The Sellers’ Shares
    excluding the Key Employees’ Shares under the Employee Share Plan not
    forming part
    of this Agreement represent 89.46 per cent of the nominal share capital of
    the Company and are fully paid up. The Residual Shareholders’ Shares
    are fully paid up.
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                              
|6.3.6 | The Sellers’ Shares are
      ordinary
shares with equal voting rights.                                                                                                                                                                                                                      
|      |                                                                                                                                                                                                                                                                                              

|6.3.7 | No resolutions or decisions
    have been made by the Board of Directors of the Company or by the Sellers
    at a General Meeting of the Company which are not clearly reflected in the
    Company’s Minute Books of the Board of Directors (last entry 18 December
    2003) or the General Meetings (last entry 11 April 2003). The Company’s
    Minute Books of the Board of Directors (last entry 18 December 2003) and
    the General
    Meetings (last entry 11 April 2003) accurately reflect all transactions referred
    to in such minutes.
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

|6.3.8 | The Sellers have delivered
    to the Buyer complete and correct copies of the constituent documents of
    the Company as in effect on the date hereof. The share register of the Company
    is complete and correct.
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|6.3.9 | The Sellers have full title
    to their Shares. The Sellers’ Shares are transferred free and clear of any
    and all liens, charges, security interests, encumbrances and commitments
    of any kind.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                         

|6.3.10 | No third party has any subscription
    rights, warrants, convertible bonds or the like issued or to be issued by
    the Company and there is no outstanding security of any kind convertible
    into such capital stock. At Completion there are no loans of whatever nature
    issued or owed by the Company to the Sellers or third parties controlled
    by the Sellers. No payments have to be made by the Company contingent upon
    the sale of the Shares to the Buyer.
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

|6.3.11 | Without prejudice to Clause
    3.1.2, no future dividend rights on any of the Shares have been disposed
    of.
|------ | ----------------------------------------------------------------------------------------------------------------
|       |                                                                                                                 

|6.3.12 | No shareholders’ agreements
    or other agreements constraining the Buyer’s full and free title to the Shares
    have been made between the Sellers, the shareholders of Seller I and/or any
    third party.
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                

|6.3.13 | With the exception of IO Interactive
    Hungary kft, the Company is not a shareholder in any company, or party to
    any joint ventures or partnerships.
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                           

|6.4 | Financial
    Matters
|--- | ---------------------
|    |                      

|6.4.1 | The Company’s annual
    accounts for the last three financial years (“the Annual Accounts”)
    and the Management Accounts have been prepared in accordance with generally
    accepted accounting principles in Denmark. The Annual Accounts and the Management
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | Accounts give a true and fair
    view of the financial position, including the net asset value and earnings,
    of the Company for the respective financial years and the period 1 January  26
    March 2004.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                  

|6.4.2 | To the Sellers’ Knowledge Schedule
      6.4.2 sets forth an exhaustive list of the Company’s contingent liabilities.
|----- | ---------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                      

|6.4.3 | None of the Company’s
    works in progress are included in the Annual Accounts/Management Accounts
    with
    a value in excess of such works’ ordinary (compared to the Company’s
    past practice) part of the relevant contract sums, and no works in progress
    are
    expected to generate any loss for the Company due to circumstances within
    the Company’s control.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                       

|6.4.4 | The Company is in possession
    of and has accurately kept and completed all accounts, books, ledgers, and
    financial and other records as required by the applicable law.
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                               

|6.4.5 | Since the end of the 2003
    fiscal year through the Completion Date, the Company:
|----- | -----------------------------------------------------------------------------------
|      |                                                                                    

| | (i) | has not suffered any material
        adverse changes in its financial position, assets, or business, including,
        but not limited to, the suffering of any damage, destruction or loss
        by fire or other casualty;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                 

| | (ii) | has conducted its
    business in the ordinary course and has not made any unusual contracts, contract
    changes or commitments
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------

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| |  | and has not sold, assigned, or transferred any tangible or intangible assets, except in the ordinary course of business;
| |  | ------------------------------------------------------------------------------------------------------------------------
| |  |                                                                                                                         

| | (iii) | has to the Sellers’ Knowledge
    not incurred any obligation or liability (absolute or contingent) except
    from normal current liabilities incurred in the ordinary course of business
    andhas not mortgaged, pledged, or subjected to a lien or encumbrance any of
    its assets, tangible or intangible;
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |       |                                                                                                                                                                                                                                                                                                                   

| | (iv) | has not made any declaration
    (subject to Clause 3.1.2) or setting aside, or payment of any dividend or
    any other distribution of profit not provided for in the Annual Accounts/Management
    Accounts or any direct or indirect redemption, purchase, or other acquisition
    of any shares of the Company; and
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                           

| | (v) | has not increased the total
    compensation payable to its employees not provided for in the Management
    Accounts (an increase of the number of employees above the number of employees
    on which the budget is based is excluded from this warranty) and has not
    adopted any profit-sharing plan, bonus plan, or new pension or benefit plan.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                          

|6.4.6 | On basis of the Management
    Accounts, the current working capital of the Company is sufficient for the
    purpose of the operation of the Company as currently planned.
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                            
|6.5   | Assets                                                                                                                                                                     

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|6.5.1 | As of Completion, all assets
    owned by the Company will be at the Company’s full and undisturbed disposal.
|----- | -------------------------------------------------------------------------------------------------------------
|      |                                                                                                              

|6.5.2 | The assets owned by the
    Company (“the Assets”) include, however not limited to:
|----- | -----------------------------------------------------------------------------------
|      |                                                                                    

|6.5.2.1 | The equipment, machinery,
    tools, fixtures and fittings and furniture listed in Schedule 6.5.2.1;
|------- | ----------------------------------------------------------------------------------------------------
|        |                                                                                                     
|6.5.2.2 | The contracts listed in Schedule
    6.5.2.2;                                                       
|        |                                                                                                     
|6.5.2.3 | The shares in IO Interactive
    Hungary Kft as specified in Schedule 6.5.2.3;                      
|        |                                                                                                     

|6.5.2.4 | The intellectual property
    rights listed in Schedule 6.5.2.4 (which
    also includes all licenses to and from third parties for patents, trademarks/signs,
    copyrights, software, or other intellectual property which are used by the
    Company) and any trademarks/signs, trade names, copyrights, logos, service
    marks, design rights, know-how, license rights, any applications for any
    of the foregoing and any other industrial and intellectual property rights
    identifying the Company as owner (“the Intellectual Property Rights”);
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

|6.5.3 | The Company has full title
    to the Assets. The Assets are free and clear of any and all liens, charges,
    security interests, encumbrances and commitments of any kind, except as specified
    in Schedule 6.5.3.
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                        

|6.5.4 | In conjunction with the
    assets leased by the Company as set out in Schedule 6.5.4, the Assets
    comprise all assets that are necessary for the normal running of the present
    business.
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|6.5.5 | Since the end of the 2003
    fiscal year, the Company has not disposed of or entered into any commitment
    to dispose of any material assets.                                                                                                                                                                                                                                                                                                       
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.5.6 | To the Sellers’ Knowledge
      the assets listed in Schedule 6.5.2.1 are in a good state of maintenance
      and repair, taking into consideration nor­mal wear and tear, and are
    not significantly surplus to requirements.                                                                                                                                                                                                                     
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.6   | Liabilities
    and obligations                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.6.1 | Since the end of the 2003
      fiscal year, the Company has not to any unusual extent incurred or released
      any debt or other liabilities and obligations, issued credit notes or renounced
    any contractual rights.                                                                                                                                                                                                                          
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.6.2 | The Company is not party
      to any contracts of guarantee other than guarantees entered into in the
      normal course of business in connection with fulfillment of orders, or
      similar and has not signed or delivered any letters of intent, comfort,
    awareness or similar which are not reflected in the latest Annual Accounts.                                                                                                      
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.7   | Contracts                                                                                                                                                                                                                                                                                                                                                                                                                                              
|6.7.1 | None of the Company’s rights
      and interests under any contracts or agreements, including publishing,
      supplier, distributor, confidentiality, non-disclosure, license and agency
      agreements, leases, service agreements, commitments, orders and bids entered
      into, accepted, made or submitted by the Company (the “Contracts”)
      can be or will to the Sellers’ Knowledge be terminated or withdrawn
    by the other party

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|      | due to this Agreement. No contractual party to any of the Contracts can claim a default thereunder due to this Agreement.                                                                                                                                                                                                                                                                                                                                                                              
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.7.2 | The Company is not in material
      breach of any of the Contracts. No party to any of the Contracts is in
      material breach of any of the Contracts. This warranty does not apply to
      any of the Hitman agreements as specified in Schedule 6.7.2 between
      the Company and the Buyer whereby the Company and the Buyer mutually declare
      that to the Sellers’ Knowledge and to the best of the Buyer’s
      knowledge, no such material default exists, let alone is anticipated.
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.7.3 | The Contracts have been
      entered into as part of the normal operations of the Company and do not
      contain terms and conditions that are particularly onerous upon the Company.
      The Company’s trading relations with publishers, distributors, agents and
      suppliers have not changed or ceased within 12 (twelve) months prior to
    the date hereof.                                                                                                                            
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.8   | Intellectual Property Rights                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|6.8.1 | The Intellectual Property
      Rights are valid and enforceable. The Intellectual Property Rights are
      not infringing upon any third party’s rights and no third party has
      claimed or otherwise indicated that the Intellectual Property Rights are
      infringing
      upon any third party’s rights, or are not valid or enforceable. This
      warranty does not apply to third parties’ independent creations and/or inventions.                                                   
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.8.2 | Apart from commonly known
      computer game piracy, the Intellectual Property Rights are not infringed
      upon by any third party. The Buyer is aware that any enforcement under
    the Company’s existing publishing                                                                                                                                                                                                                                                                            

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|      | agreements shall be carried out by its publishers in their capacity of being exclusive licensees.                                                                                                                                                                                                 
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                   
|6.8.3 | The Company has used its
      best endeavours to preserve and maintain the Intellectual Property Rights
    to the extent the enforcement of such rights lies with the Company.                                                                                                                  
|      |                                                                                                                                                                                                                                                                                                   
|6.8.4 | Save co-existence rights
      vested in independent third party creations and/or inventions, there are
      no circumstances, which would entitle a third party to any rights in respect
    of the Intellectual Property Rights.                                                               
|      |                                                                                                                                                                                                                                                                                                   
|6.8.5 | The Company has kept confidential
      all confidential information and the Company has no obligations to transfer
      any information in respect of the Intellectual Property Rights to any third
    party.                                                                                  
|      |                                                                                                                                                                                                                                                                                                   
|6.8.6 | The Company has complete
      ownership to and possession of the source code and object code relating
      to the Intellectual Property Rights and the Company has not deposited or
    provided any copies hereof with any third party.                                                        
|      |                                                                                                                                                                                                                                                                                                   
|6.8.7 | The Company has not developed
    by means of reverse engineering any of the Intellectual Property Rights.                                                                                                                                                                                        
|      |                                                                                                                                                                                                                                                                                                   
|6.8.8 | The computer system of the
      Company is fully effective and operational in all respects and has within
      18 months prior to Signing not experienced any material failure and the
      Company has all necessary maintenance and support agreements in respect
    of its computer system.

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|6.8.9  | All licences held by the
        Company as specified in Schedule 6.5.2.4 are in full force and effect,
        and
the Company is not in breach hereof.                                                                                                                                                                                                                                                       
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                
|6.8.10 | The Company owns or
    has adequate licensing rights to all software, know-how, trademarks, trade
    names, including “IO Interactive”, copyrights and other intellectual
    and industrial property rights that are necessary for the conduct of its
    business as it is now conducted.                                                                                                                  
|       |                                                                                                                                                                                                                                                                                                                                                                                                                
|6.8.11 | Schedule 6.8.11 sets
        forth an exhaustive list of the Company’s obligations to pay royalties,
        fees or any other payment to third parties for the use of any intellectual
    and industrial property rights or know-how.                                                                                                                                                                        
|       |                                                                                                                                                                                                                                                                                                                                                                                                                
|6.9    | Employees                                                                                                                                                                                                                                                                                                                                                                                                      
|6.9.1  | The names of all the employees
        of the Company are listed in Schedule 6.9.1 (the “Employees”).
        Schedule 6.9.1 correctly and completely specifies each Employee’s name,
        occupation, periods of employment, salary, general and special benefit.
        The Company can terminate the contracts with the Employees with notices
    usual within the business carried out by the Company.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                
|6.9.2  | None of the Employees
        have given notice of termination of their employment, and the Sellers
        are not aware of any of the Employees’ intending to give such notice
    of termination.                                                                                                                                                                                                           
|       |                                                                                                                                                                                                                                                                                                                                                                                                                
|6.9.3  | None of the present or
        former managers or members of the Board of Directors of the Company have  or
    in connection with this Agreement                                                                                                                                                                                                                                                             

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|       | will have  any claim
    against the Company except for remuneration entitlement of the present managers
    of the Company pursuant to their respective employment contracts relating
    to the period after Completion. No former employees of the Company have any
    claims against the Company, which have not been fully provided for in the
    Annual Accounts/Management Accounts.
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                               
|6.9.4  | The Employees have no pension
      rights other than pension rights according to law and the Company’s Security
      Scheme (in Danish“Tryghedsordning”).Allpension
      obligations are fully provided or funded.                                                                                                                                                                         
|       |                                                                                                                                                                                                                                                                                                                                                                                               
|6.9.5  | During the last three years
      there have been no major work related accidents or illnesses with any of
    the Company’s employees.                                                                                                                                                                                                                                                       
|       |                                                                                                                                                                                                                                                                                                                                                                                               
|6.9.6  | The Company has never experienced
    any strikes or other material conflicts with its employees.                                                                                                                                                                                                                                                                                             
|       |                                                                                                                                                                                                                                                                                                                                                                                               
|6.9.7  | Except as listed in Schedule
        6.9.7 the Company does not have any outstanding offers of employment
    or consultancy.                                                                                                                                                                                                                                                                 
|       |                                                                                                                                                                                                                                                                                                                                                                                               
|6.9.8  | The Company does not have
    any obligations towards consultants.                                                                                                                                                                                                                                                                                                                            
|       |                                                                                                                                                                                                                                                                                                                                                                                               
|6.10   | Tax Matters                                                                                                                                                                                                                                                                                                                                                                                   
|6.10.1 | The Company has not in the
      last three years prior to Completion been in default and is not in default
      with the payment of any governmental or municipal amounts due, including
      corporate taxes, withholding taxes, real estate taxes, other taxes, VAT,
      customs duties, duties on salaries (“arbejdsmarkedsbidrag”), contributions
    to the Danish Labour           

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| | Market Supplementary Pensions
    (“ATP”) and other governmental and municipal charges of whatever nature (“Taxes and Duties”).
    To the extent that Taxes and Duties are not yet due for payment, Taxes and
    Duties have been adequately reserved for in the Annual Accounts/Management
    Accounts. In the manner required by the law, the Company has duly and timely
    complied with its obligations to submit returns and other forms in relation
    to Taxes and Duties and such returns and other forms have been prepared in
    accordance with the applicable laws.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|       |                                                                                                                                                                                                                                                                                                                                      
|------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.10.2 | No assessments for additional
    Taxes and Duties have been made, proposed or indicated which have not been
    provided for in the accounts of the Company nor will there be any additional
    assessment of Taxes and Duties against the Company as a consequence of actions
    or omissions by the Company prior to Completion.

|       |                                                                                                                                                                                                                                         
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.10.3 | The Company has not been notified
    that any of its tax returns or tax reports are presently under audit, and
    there have not been any other investigations by any tax authority during
    the past 12 months prior to Completion.

|       |                                                                                                                                                                                                                                                                                                                            
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.11   | Compliance and Litigation                                                                                                                                                                                                                                                                                                  
|6.11.1 | The Company has obtained all
    necessary consents, permits and approvals for conduct of its business and
    is conducting its business in full compliance with the consents, permits,
    approvals, rights, exemptions, national and EU laws, regulations, orders
    and requirements and its articles of association.

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|6.11.2 | The Company is not party to
    any arrangement which would violate Danish or EU anti-trust laws, nor has
    the Company in any manner acted or is in any other matter acting in violation
    thereof. The Company has not received any indication or notice that it or
    the industry in which it is doing business has been or is being investigated
    by any anti-trust authorities.
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|       |                                                                                                                                                                                                                                                                                                                                                                                                       
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.11.3 | Except as provided for in Schedule 6.11.3, the Company has not in the last three years prior to Completion been and is not currently party to any lawsuits, arbitration proceedings, action of damages, complaints, public investigations, administrative methods or proceedings or the like and such disputes are to the best knowledge and belief of the Sellers and the Company not to be expected.

|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.11.4 | The Company has not been
      involved
in events of product liability.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|6.12   | Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|6.12.1 | The Company has entered into
    the insurance policies as set out in Schedule 6.12.1 (the “Insurance Policies”),
    The Insurance Polices are adequate and normal within the business in relation
    to insurance amounts, scope of coverage, and premium and the Insurance Policies
    remain in place. The Company has paid the insurance premiums on the due dates
    and has not received or given notice of termination of the insurance policies
    or received notice of increase of premiums except increases generally applied
    by Danish insurance companies.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|6.12.2 | The preceding three (3) years
    the Company has not had such a loss experience as might affect the Company’s
      changes of future                                                                                                                                                                                                                                                                                                                                                                                                                                          

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|       | insurance coverage on terms
    and conditions corresponding to the present ones.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|6.12.3 | The Company has no insurance
    claims pending.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|6.13   | Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|       | All real estates leased by the Company are set forth in Schedule
    6.13 and are free of any contamination or other material which, based on the currently applicable legislation, could cause environmental authorities or any other governmental bodies or agencies to order the Company (as opposed to its landlord and any former owner or tenant) to be responsible for the removal of such material or to order the Company the execution of other measures to protect the environment. The Company has assumed no liability relating to contamination or otherwise with respect to any real estate previously leased by the Company.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|6.14   | Miscellaneous                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|6.14.1 | To the Sellers’ Knowledge
      the Sellers and the Company have openly and fully disclosed in good faith
      and after due inquiry all information and documentation requested by the
      Buyer in the due diligence list (Schedule 6.14.1) (the “Due
    Diligence Documentation”).                                                                                                                                                                                                                                                                                                                                                   
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|6.14.2 | To the Sellers’ Knowledge
      there exist no material facts or circumstances concerning the past or present
      business of the Company, which can be expected to materially and adversely
    affect the Company.                                                                                                                                                                                                                                                                                                                                                                                                                      

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|6.14.3 | No grants, subsidies or similar
    benefits from any authority will become repayable in whole or in part due
    to this Agreement.
|------ | ------------------------------------------------------------------------------------------------------------------------------------

|       |                                                                                                                                                                                                                                                  
|------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.14.4 | Seller 1 and Seller 2 have
    no claims against the Company. The Residual Shareholders, the shareholders
    of Seller 1 and the Key Employees have no claims against the Company outside
    the scope of their respective ordinary employment.

|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.14.5 | There exist no agreements
    of whatever nature (except for ordinary employment contracts) between the
    Company on the one side and the Sellers and the shareholders of Seller 1
    on the other side, Persons related to the Sellers and the shareholders of
    Seller 1 or members of the Board of Directors or Management of the Company
    and such members’ related persons. For the purpose of this provision, “Persons” shall
    mean spouses, cohabitants, children etc.

|     |                                                                                         
|---- | ----------------------------------------------------------------------------------------
|6.15 | Qualifications of Representations
    and Warranties                                    
|     | The Sellers’ Representations and Warranties are subject to the following qualifications:

|       |                                                                                                                                                                                                                                                     
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.15.1 | The Representations and Warranties
    are the Sellers’ complete representations and warranties regarding the Company
    and its business, and consequently, the Buyer cannot rely on implied representations
    and warranties, assumptions, etc.

|       |                                                                                                                                                                                                                                                                      
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.15.2 | The Buyer and its advisors
    have prior to the execution of this Agreement conducted due diligence investigations
    into the Due Diligence Documentation, The Buyer and its advisors have had
    access to interview the Company’s management and Key Employees.

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|6.15.3 | The “Sellers’ Knowledge” shall
    be construed as a reference to the actual knowledge of the persons listed
    in Schedule 6.15.3 at the execution of this Agreement and such knowledge that the persons listed in Schedule 6.15.3 ought to have after having made due inquiries required of their respective professional offices.
|------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|       |                                                                                                                                   
|------ | ----------------------------------------------------------------------------------------------------------------------------------
|6.15.4 | The Representations and Warranties
    are subject to the disclosure letter annexed as Schedule 6.15.4, (“the Disclosure Letter”).

|       |                                                                                                                                                                                                                                                                                                                                  
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.15.5 | The Sellers shall not be liable
    for any breach of the Representations and Warranties if the event or circumstance
    making the Representations and Warranties incorrect, incomplete and/or misleading
    is stated in the Disclosure Letter or has been fairly and fully disclosed
    in the Due Diligence Documentation.

|       |                                                                                                                                                                                                                                                                                                                                                                                       
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.15.6 | The Representations
    and Warranties under Clauses 6.3  6.14 are in respect of the liability
    of the Key Employees under this Agreement made subject to the actual knowledge
    of the Key Employees. For the avoidance of doubt this Clause 6.15.6 does
    not have any impact on the liability of Seller 1 and Seller 2 towards the
    Buyer in relation to this Agreement.

|       |                                                                                                                                                                                                                                                                                                                  
|------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|6.15.7 | During its due diligence
    review, the Buyer has identified the matters, claims and contingent liabilities
    set out in Schedule 6.15.7. In the event such matters, claims, and
    contingent liabilities materialize, the Sellers agree
to indemnify the Buyer without the limitations found in Clause 7.6.

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|7   | Liability                                                                                                                                                                                                                                                                                                                                                                          
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                    
|7.1 | Liability                                                                                                                                                                                                                                                                                                                                                                          
|    | In the event of the Sellers’ breach of the Representations and Warranties set out in clause 6 and/or in the event of the Sellers’ failure to fulfill its agreements, obligations or covenants under this Agreement, the Sellers shall indemnify and hold the Buyer harmless from and against all loss, cost and expense (the “Loss”)
    thereby suffered or incurred by the Buyer.
|    |                                                                                                                                                                                                                                                                                                                                                                                    
|7.2 | The Buyer’s Loss shall be
      the Buyer’s net loss effectively sustained less tax allowances and insurance
      sums. The Buyer’s Loss shall be calculated exclusive of any indirect or
    consequential loss, consequential cost or consequential expense.                                                                                                                    
|    |                                                                                                                                                                                                                                                                                                                                                                                    
|7.3 | Subject to Clause 7.8, second
      paragraph, the Sellers shall be liable for the Buyer’s Loss on a pro rata
      basis. Each Seller’s liability shall be capped at his share of the Purchase
    Price in accordance with Clause 7.6.3.                                                                                                                                         
|    |                                                                                                                                                                                                                                                                                                                                                                                    
|7.4 | The Buyer shall
    actively and in good faith seek to mitigate the Loss.                                                                                                                                                                                                                                                                                                          
|    |                                                                                                                                                                                                                                                                                                                                                                                    
|7.5 | Subject to the pro rata
      liability limitation in clause 7.3, any claim by the Buyer shall be made
      and pursued against the Sellers as a litis consortium. This clause 7.5
    shall however not apply with respect to the Key Employees.                                                                                                                                 

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|7.6   | Limitations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      | Any Loss suffered by the Buyer
    as a result of the Sellers’ breach of any of the Representations and
    Warranties shall be subject to the following limitations:                                                                                                                                                                                                                                                                                                                                                                                                                               
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|7.6.1 | The Sellers shall not be
      liable for any Loss suffered by the Buyer as a result of a claim arising
      out of a single breach or inaccuracy of the Representations and Warranties
      unless each such Loss is in excess of GBP 10,000 (“the De Minimis
    Threshold”).                                                                                                                                                                                                                                                                                                                   
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|7.6.2 | The Sellers shall not be
      liable for any Loss suffered by the Buyer unless the aggregate of all Loss
      arising from claims, which are in excess of the De Minimis Threshold, is
      in excess of GBP 100,000 (the “Basket”) in which case the Sellers
    shall be obligated to pay indemnification from the first GBP of the Loss.                                                                                                                                                                                                                                                      
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|7.6.3 | The Sellers shall not be
    liable for any Loss exceeding 50 per cent of the Purchase Price.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|7.6.4 | The Sellers shall have no
      obligation to indemnify the Buyer’s Loss unless the Buyer gives Notice
      without undue delay and within 30 Business Days after the Buyer became
      or should have become aware of the events or circumstances giving rise
      to the claim and that such events and circumstances would give rise to
      a claim. The Buyer’s Notice shall state the best available specific grounds
      supporting the claim, the amount of the claim and shall to the extent possible
    be accompanied by all written documentation necessary to support the claim.

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|7.6.5 | The liability of the Sellers
    for the Buyer’s Loss shall expire 18 months following Completion except for
    claims in respect of which prior written Notice has been given. However,
    the Warranties contained in Clause 6.10 (Tax Matters) shall not terminate
    until two months after the expiry of the statute of limitation under which
    claims of the competent tax authorities may be raised against the Company.                                                                                                                                                                                                                                                                                                                                                                     
|----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|7.7   | Exclusion of
    Limitations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|      | The limitations of the liability
      of the Sellers set out in Clause 7.6 shall not apply to claims for breach
      of the Representations and Warranties arising out of or as a result of
      willful misrepresentation or gross negligence on the part of the Sellers
      nor with respect to Clause 6.2 (Validity, Execution, No Breach), Clause
    6.3 (Corporate Matters), Clause 6.5 and Clause 6.10 (Tax Matters).                                                                                                                                                                                                                                                                                                                                                                         
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|7.8   | Compensation
    Escrow                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|      | At Completion, GBP 625,000
      of each of Seller 1’s and Seller 2’s respective share of the Purchase Price
      (in total GBP 1,250,000) shall be placed in escrow (“Compensation
      Escrow”) in accordance with the terms of the Escrow Agreement. Seller
      1 shall pay into the Compensation Escrow GBP 250.000 in cash and Eidos
      Shares to the value of GBP 375,000. Seller 2 shall pay into the Compensation
      Escrow GBP 625.000 in cash. Upon production of a performance guarantee
      from a renowned bank in the agreed form set out in Schedule 7.8 at
      Completion, both Seller 1 and Seller 2 may ask that their proportionate
      cash share of the Compensation Escrow (i.e. GBP 625,000 regarding Seller
    2 and GBP 250.000 regarding Seller 1) be released.

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|      | In
    the event that the Buyer sustains one or more Losses that qualify for indemnification
    or compensation in accordance with the above provisions and such claim is
    made against the Sellers in due time as provided for in Clauses 7.6.4-7.6.5,
    the Buyer shall be entitled to claim the amount in question to be paid and
    released from the Compensation Escrow in accordance with the terms of the
    Escrow Agreement. Such claims shall be satisfied from the Compensation Escrow
    at par value irrespective of Clause 7.3. The Sellers may request that the
    Compensation Escrow or any residual part hereof (including increase of the
    value of the Eidos Shares transferred to the Escrow Compensation) be released
    18 months following Completion. For the avoidance of doubt any increase of
    the value of the Eidos Shares paid into the Escrow Compensation shall be
    for the benefit of the Buyer in relation to satisfaction of claims made against
    the Sellers.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|7.9   | The Buyer’s
    Exclusive Remedies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|      | The Buyer agrees that the
      remedies specified in this clause are the Buyer’s exclusive remedies
      in the event of any breach of the Representations and Warranties and/or
      in
      the event of the Sellers’ failure to fulfill any of its agreements,
      obligations or covenants under this Agreement. In particular, the Buyer
      expressly waives
      the right to rescind this Agreement and to claim a proportionate price
      reduction of the Purchase Price (in Danish:“forholdsmæssigt
      afslag i købesummen”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|8     | The Buyer’s
    Representations and Warranties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|8.1   | The Buyer represents
    and warrants as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|8.1.1 | The Buyer (i) is a company
      duly organized and validly existing under the laws of the United Kingdom
      and (ii) has the full right, power and authority to enter into the Agreement
    and to consummate all transactions contemplated thereby.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

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|8.1.2 | This Agreement (i) has been
    duly approved and authorised by the relevant decision-making bodies of the
    Buyer, (ii) is valid and binding on the Buyer, (iii) and enforceable against
    the Buyer in accordance with its terms.                                                                                                                                                                                                                                                                                                                                                                                                                                
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|8.1.3 | Neither the execution nor
      the performance of the Agreement will (i) conflict with or constitute breach
      or violation of the articles of association of the Buyer and/or applicable
      law, (ii) conflict with or result in breach of any agreement concluded
      by the Buyer, except for any such agreements whose breach will not adversely
      affect this Agreement, (iii) conflict with or constitute violation of any
      judgment, decision or order made by any court or administrative body against
      or binding upon the Buyer, or (iv) conflict with or constitute a violation
    of any law or regulation applicable to the Buyer.
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|8.1.4 | No consent of any shareholder,
      creditor or any other person, or notification to, registration with or
      the consent or approval of any court of law or administrative body is required
      in connection with the execution and performance by the Buyer of the Agreement
      except for the permission of the listing authority of the London stock
    exchange in relation to listing of the Eidos Shares.                                                                                                                                                                                                                                            

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|8.1.5 | No claims, lawsuits, legal
    or other proceedings are pending or to the Buyer’s knowledge threatened against
    the Buyer or its property before any court, arbitration tribunal, or administrative
    body that, if adversely decided, will prevent or delay the Buyer’s consummation
    of the transactions contemplated by the Agreement.
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                  

|8.1.6 | The Board and the Company
    Secretary of the Buyer do not have knowledge of any information that according
    to applicable rules/legislation should have been made public prior to Signing
    and that may have a material adverse effect on the Eidos Share Price.
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                         

|8.1.7 | The pre-Completion shareholder
    decision to declare the Dividend will not be cancelled, replaced, amended
    or changed in any way by the Buyer upon Completion. The Dividend will be
    settled by effective payment only.
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                 

|8.1.8 | The pre-Completion directed
    issuance of B-shares as set out in Schedule 2.3.ii will be subscribed and
    paid-in by the Buyer prior to Completion.
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                        

|9 | Post-Completion Compulsory Buy-Out Procedure
|- | --------------------------------------------
|  |                                             

|9.1 | Upon Completion, the Buyer
    will purchase Shares owned by the Residual Shareholders in accordance with
    the compulsory buy-out procedure under Sec. 20(b)-(c) of the Danish Act on
    Public Companies.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|9.2 | The Buyer shall in respect
    of each Key Employee and Seller 1 execute and file the petition for roll-over
    tax treatment in the form set out in Schedule 9.2 with the tax authorities.
    The Buyer shall not be responsible for the outcome of the petition.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                     

|9.3 | The effectuation of the
    Compulsory Buy-Out procedure shall be the sole responsibility of the Buyer
    unless otherwise stated in this Agreement. The Sellers agree to use their
    reasonable best endeavors to enable the Buyer to receive the Residual Shareholders’
    acceptance of the price offered In connection with the Compulsory Buy-Out
    procedure
    immediately after Completion.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                           

|9.4 | The costs related to the effectuation
    of the Compulsory Buy-Out procedure and its possible contest shall be borne
    by the Buyer. If, however, the share price offered by the Buyer to the Residual
    Shareholders in accordance with Sec. 20(b) of the Act on Public Companies
    is contested and following an expert opinion and final court decision increased,
    the Sellers shall on a pro rata basis indemnify the Buyer from the increase
    in the share price in respect of the Residual Shareholders benefiting here
    from. In the absence of an explicit agreement to the contrary effect, such
    dispute with one or more Residual Shareholders shall, if necessary, be tried
    before all court instances possible, and the Buyer shall be obliged to consult
    the Sellers and their advisors prior to making any material decision throughout
    the proceedings.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        

|10   | Earn Out       
|---- | ---------------
|     |                
|10.1 | Earn
Out Scheme
|     |                

| | On Completion the Sellers and
    the Residual Shareholders (the “Earn Out Participants”) will subject
    to the terms of this Clause be entitled to participate in a four-year earn
    out scheme
    (“Earn Out Scheme”)
    under which they will receive cash payments based on sale of Full-Price New
    Game Units.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|10.2   | General Earn Out Provisions                                        
|------ | -------------------------------------------------------------------
|       |                                                                    
|10.2.1 | Earn Out Scheme Definitions                                        
|       |                                                                    
|       | For purposes of this Clause, the following definitions shall apply:
|       |                                                                    

|10.2.2   | “Bad Leaver” shall
    mean a Key Employee or a Residual Shareholder or a shareholder of Seller
    1 who ceases to be an employee with the Company due to 1) his material breach
    of his employment terms or 2) his own resignation without qualifying as a
    Good Leaver.
|-------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                 
|10.2.2.1 | “Earn Out Participant”    shall have the meaning set out in Clause 10.1.                                                                                                                                                                                                        
|         |                                                                                                                                                                                                                                                                                 

|10.2.2.2 | “Earn Out Term” shall
    mean a four-year term commencing on the date of Completion.
|-------- | -------------------------------------------------------------------------------------
|         |                                                                                      

|10.2.2.3 | “Full-Priced Unit” shall
    mean any Unit of New Games published on XBOX, XBOX2 Play Station 2, Play
    Station 3 or PC that upon launch is sold at at least 75 per cent of the recommended
    retail price of the manufacturer.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                    

|10.2.2.4 | “Good Leaver” shall
    mean a Key Employee or a Residual Shareholder (including the shareholders
    of Seller 1) who ceases to be an employee
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------

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| | of the Company due to; a) his
    retirement upon reaching his retirement age in accordance with his terms
    of employment and/or applicable law; b) his death; c) his permanent disability
    to perform his job due to an accident, illness or otherwise; d) his resignation
    due to material changes of his responsibilities; e) his dismissal except
    where this is caused by the employees' breach of his employment terms; or
    f) because he is employed in a business of the Company or the Buyer’s Group
    which is sold or otherwise disposed of.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

|10.2.2.5 | “New Game” shall
    mean any of the Company’s new interactive computer games being released by
    the Company during the Earn Out Term.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                          

|10.2.2.6 | “Net Wholesale Price” shall
    mean the price received by the Buyer net of any sales tax and net of 15 per
    cent returns and any price protection provisions.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                  

|10.2.2.7 | “Unit” shall
    mean a copy of any of the New Games no matter in which form it may be sold
    whether off-line or on-line and whether currently in existence or yet to
    be invented.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                          
|10.2.3   | Earn Out Scheme Particulars                                                                                                                                                              
|         |                                                                                                                                                                                          

|10.2.3.1 | Total payments under
    the Earn Out Scheme cannot exceed GBP 5 million. Total payments under the
    Earn Out Scheme to Seller 1 can not exceed GBP 2 million, total payments
    under the Earn Out Scheme to Seller 2 can not exceed GBP 2 million and total
    payments under the Earn Out Scheme to the Key Employees and the Residual
    Shareholders jointly cannot exceed GBP 1 million.
|-------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|10.2.3.2 | Any entitlement under the Earn
    Out Scheme is based on an annual sale of Full-Priced Units above 2.1 million.
    Any under performance against this threshold in a given year is carried over
    to subsequent year(s) before any payment is made under the Earn Out Scheme,
    e.g. if the Company sells 2 million Full-Priced Units in the first year of
    the Earn Out Term then the Company must sell 2.2 million Full-Priced Units
    in the second year before any payment is made under the Earn Out Scheme.
    The following Full-Priced Unit thresholds of 2.55 and 3.5 million Full-Priced
    Units (as referred to in Clauses 10.3.1, 10.4.1 and 10.5.1) respectively
    shall consequentially be increased to 2.65 and 3.6 million Full-Priced Units
|-------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

|10.2.3.3 | The Earn Out Scheme has been
    structured under the assumption that the cost of production in the first
    year of the Earn Out Term does not increase above the cost base set out in Schedule 10.2.3.3. The cost base for each of the following years of the Earn Out Term is to be determined on a yearly basis by the Buyer after prior consultation with the management team of the Company such consultation to include which components shall be included in the new cost base in relation to the Earn Out Scheme. In the event of any cost increase in excess hereof, the number of Units to be sold before any payment shall be made under the Earn Out Scheme will increase by a correspondingly percentage. For purposes of illustration, Schedule 10.2.3,3
sets forth an example.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|10.2.3.4 | The Earn Out Scheme
        has been structured by the parties under the assumption that the New
        Games are all published, marketed with the Buyer’s best endeavors and
        sold as Full-Priced Units to the degree commercially possible within
        the Earn Out Term. In the event that New Games are finally developed
        by the Company and finally approved by Microsoft and Sony within the
        last 2 months of the Earn Out Term the calculation of the payments under
        the Earn Out Scheme shall include sales of Full-Priced Units of such
        New Games within the first three months after release of such New Games.
        However in no event shall any sales of Full-Priced Units later than three
        months after the end of the Earn Out Term be included in calculation
        of the payments under the Earn Out Scheme.
|-------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

|10.2.3.5 | Payments under
        the Earn Out Scheme shall be made within six months after the end of
        each of the Earn Out Scheme years (i.e. six months after each year’s
        Completion anniversary), however with no payment in year 3. In the event
        of late payment, the Earn Out Participants shall be entitled to accrual
        of statutory late payment interests in accordance with the Danish Act
        on Interests.
|-------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                              

|10.2.3.6 | The Buyer shall
        be excluded from settling any payment payable under the Earn Out Scheme
        to the Earn Out Participants by way of set-off. Any such payments shall
        be paid effectively to the Earn Out Participants.
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                          

|10.3 | Earn
        Out to Seller 1
|---- | ----------------------------

| | Seller 1 and the Buyer
        have agreed that Seller 1 shall participate in the Earn Out Scheme as
        follows:
| | ---------------------------------------------------------------------------------------------------------------------

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|10.3.1 | Seller 1 shall be
    entitled to:                                                 
|------ | -----------------------------------------------------------------------------------
|       | GBP 0.400 of each Full-Priced
        Unit sold above 2.1 million Full-Priced Units
|       | GBP 0.901 of each Full-Priced
    Unit sold above 2,55 million Full-Priced Units   

| | GBP 1.200 of each Full-Priced
        Unit sold above 3.5 million Full-Priced Units.
| | ------------------------------------------------------------------------------------
| |                                                                                     

|10.3.2 | In the event that
        any individual shareholder in Seller 1 during the Earn Out Term ceases
        to be an employee with the Company being a Bad Leaver, such person shall
        be obliged to sell his shares in Seller 1 (or any such entity to which
        the shareholders of Seller 1 have transferred their rights under the
        Earn Out Scheme) to the other shareholders in Seller 1 at par value,
        and the other shareholders shall be obliged to buy such person's shares
        in Seller 1 at par value. The Buyer shall be a third party beneficiary
        to the shareholders of Seller 1’s compliance with their obligation
        to buy the Bad Leaver’s shares in Seller 1.
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

|10.4 | Earn
    Out to Seller 2                                                                                             
|---- | ---------------------------------------------------------------------------------------------------------------------
|     | Seller 2 and the Buyer
        have agreed that Seller 2 shall participate in the Earn Out Scheme as
        follows:
|     |                                                                                                                      

|10.4.1 | Seller 2 shall be
    entitled to:                                                 
|------ | -----------------------------------------------------------------------------------
|       |                                                                                    
|       | GBP 0.400 of each Full-Priced
        Unit sold above 2.1 million Full-Priced Units
|       | GBP 0.138 of each Full-Priced
    Unit sold above 2.55 million Full-Priced Units   

| | GBP 0.200 of each Full-Priced
        Unit sold above 3.5 million Full-Priced Units.
| | ------------------------------------------------------------------------------------

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|10.5   | Earn Out to the Key
    Employees and the Residual Shareholders                                                                                          
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------
|10.5.1 | The Key Employees
        and the Residual Shareholders shall be entitled to (based on their earlier
        proportionate shareholdings in the Company):
|       |                                                                                                                                                          

| | GBP 0.200 of each Full-Priced
        Unit sold above 2.1 million Full-Priced Units
| | -----------------------------------------------------------------------------------
| | GBP 0.435 of each Full-Priced
    Unit sold above 2.55 million Full-Priced Units   

| | GBP 0.600 of each Full-Priced
        Unit sold above 3.5 million Full-Priced Units.
| | ------------------------------------------------------------------------------------
| |                                                                                     

|10.5.2 | Each Key Employee
        shall cease to accrue any rights under the Earn Out Scheme when they
        cease to be an employee with the Company by virtue of being a Bad Leaver.
        Any rights accrued, but yet to be paid under the Earn Out Scheme will
        be paid proportionally. Should one or more of the Key Employees cease
        to be entitled to participate in the Earn Out Scheme, the other Key Employees’
        eligibility to receive payments under the Earn Out Scheme will be increased
        proportionately.
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

|10.6   | Earn Out to the Residual
    Shareholders employed with the Company                                                                                                                                                                                                     
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|10.6.1 | The Residual Shareholders
        shall be eligible to participate in the Earn Out Scheme on the same terms
        and conditions as the Key Employees. The provisions in this Clause in
        general and in Clause 10.5 in particular shall apply mutatis mutandis.

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|10.7 | Seller 1’s, Seller
        2’s, the Key Employees' as well the eligible Residual Shareholders’
        participation in the Earn Out Scheme is illustrated in Schedule 10.7.
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                             

|10.8 | Sales of any other
        Units at less than Full-Price (cf. the definition of Full Price Unit)
        will, accrue a royalty at a rate of 15 per cent of the Net Wholesale
        Price for any such Units sold during the Earn Out Term provided the annual
        sale is above 2.1 million Full-Priced Units cf. Clause 10.2.3.2. For
        the avoidance of doubt these payments shall be payments for the purpose
        of the earn Out Scheme and Clause 10.2.3.1 shall apply. For inter-Sellers
        apportionment purposes, it is agreed that the annual Earn Out amounts
        payable to the Earn Out Participants (if any) shall be calculated on
        basis of all Full-Priced Units sold in that particular Earn Out year
        having been sold prior to the sales of any non-Full-Priced Units regardless
        of the actual sequence of such sales. Furthermore, it is agreed that
        any Earn Out amount payable under this Clause 10.8 shall be split between
        the Earn Out Participants in the inter partes proportions set out under
        the applicable Unit level.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

|10.9 | The Sellers and the
        Buyer are in agreement that the value of the Earn Out is capitalized
        as set out in Schedule 10.9.
|---- | -------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                      

|10.10 | If one or
        more of the Earn Out Participants disagree with respect to the
        calculation of the payments to be made to the Earn Out Participants under
        the Earn Out Scheme the Earn Out Participants shall give written notice
        (“Notice of Disagreement”) to the Buyer specifying in reasonable
        detail the nature of the disagreement asserted. The Notice of Disagreement
        shall be given no later than 30 days after the Buyer
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | has send information to
        the Earn Out Participants of the relevant payment under the Earn Out
        Scheme. Failure by the Earn Out Participants to notify the Buyer within
        the said time limit shall be deemed to constitute an agreement by the
        Earn Out Participants to the calculation of such payment under the Earn
        Out Scheme.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                       

|10.11 | Following receipt
        by the Buyer of the Notice of Disagreement, the Buyer and the Earn Out
        Participants shall immediately attempt to resolve any disagreements,
        which they may have with respect to any matters specified in the Notice
        of Disagreement. If the Buyer and the Earn Out Participants have failed
        to reach a written agreement within 15 days after the Buyer’s receipt
        of the Notice of Disagreement with respect to all such matters, then
        all such matters as specified in the Notice of Disagreement as to which
        such agreement has not been reached (the “Disputed Matter”)
        shall be submitted to and reviewed by KPMG who shall act as an independent
        auditor. KPMG shall determine the Disputed Matter in accordance with
        the principles set out in this Agreement with final and binding effect
        on the Buyer and the Earn Out Participants.
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

|11   | Covenants                                                                                                                                                                                                                                                                                           
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                     
|11.1 | Further assurances                                                                                                                                                                                                                                                                                  
|     | Each Party shall (i) deliver
        such documentation, (ii) sign such supplementary declarations and certificates,
        and (iii) take such other actions and do such other things as may be
        reasonable or necessary for the proper and orderly consummation of this
        Agreement.

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|11.2   | Books and records                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       | The Buyer shall procure that
      the Company keeps the Company’s books and other business records
      relating to the period prior to Completion to the extent and for the period
      prescribed
      by the Danish Bookkeeping Act (in Danish: “Bogføringsloven”).
      The Buyer shall further procure that during such period the Company allows
      the Sellers and its advisors reasonable access to review and copy such
      books and other business records within usual business hours at no extra
      charge, provided that this information is required to fulfill the Sellers’
    legal obligations towards public authorities.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|12     | Confidentiality                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|12.1   | Confidentiality obligation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|       | Subject to Clause 12.2 below,
      the Parties shall treat as strictly confidential all information received
      or obtained as a result of entering into or performing this Agreement relating
      to (i) the existence and subject matter of this Agreement, (ii) the negotiations
    relating to this Agreement, and (iii) the Company and the other Party.                                                                                                                                                                                                                                                                                      
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|12.2   | Exceptions to Confidentiality
    Obligation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|       | Notwithstanding the provisions
      of Clause 12, each Party may disclose information which would otherwise
    be confidential in the event that                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|12.2.1 | it is required by law or
      by a court of competent jurisdiction;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|12.2.2 | it is required by any securities
    exchange or regulatory or governmental body whether or not the requirement
    for the information has the force of law;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

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|12.2.3 | the disclosure is made
    as a normal part of the preparation of the accounts and/or other reports;
|------ | ----------------------------------------------------------------------------------------------------

|       |                                                                                                                                                                                                           
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|12.2.4 | it is required by an entity
    controlling the Party, provided always that a similar obligation to keep
    such information secret and confidential is imposed on such entity controlling
    the Party;

|       |                                                                                                                                                                                                                                                                                                                                                                                         
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|12.2.5 | it is deemed necessary or
      appropriate that the Party discloses such information to its advisors or
      banks, provided always that a similar obligation to keep such information
    secret and confidential is imposed on such advisors or banks;                                                                                                                              
|       |                                                                                                                                                                                                                                                                                                                                                                                         
|12.2.6 | the information has come
      into the public domain through no fault of that Party or any authorised
      recipient under Clauses 12.2.3-12.2.4;                                                                                                                                                                                                                                     
|       |                                                                                                                                                                                                                                                                                                                                                                                         
|12.2.7 | the other Party has given
      prior written approval to the disclosure, such approval not to be unreasonably
    withheld or delayed.                                                                                                                                                                                                                                                 
|       |                                                                                                                                                                                                                                                                                                                                                                                         
|12.3   | Press
Release                                                                                                                                                                                                                                                                                                                                                                           
|       | The Parties are aware that
    the publishing of the press releases must be made with the mutual consent
    of the respective parties taking into due consideration that the Buyer is
    listed on the London Stock Exchange. The Sellers are aware that the Buyer
    will issue a compulsory stock exchange announcement to the London Stock Exchange
    immediately after Signing.

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|13       | Restrictive
    Covenant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|-------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|13.1     | Restrictive
    Covenant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|         | Seller 1 and its shareholders
    and the Key Employees (as opposed to Seller 2) shall not                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|13.1.1   | for a period of 3 years from
      Completion in respect of Seller 1 and its shareholders and for a period
      of 1 year from Completion in respect of the Key Employees be engaged directly
      or indirectly in any interactive computer games business of any nature
      whatsoever (whether as holder of participating interests, employee, investor,
      consultant or advisor or in any other way) anywhere in the world which
      develops interactive computer games or otherwise carries on business that
    competes with the Company as conducted prior to Completion.
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|13.1.2   | The Sellers and the shareholders
    of Seller 1 shall not                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|13.1.2.1 | for a period of 3 years from
    Completion solicit any of the Company’s business partners or customers at
    the time of Completion or assist any third party in such solicitation in
    relation to the businesses referred to in Clause 13.1.1 or seek to induce
    the above business partners or customers to cease dealing with the Company,
    and                                                                                                                                                                                                                               

|         |                                                                                                                                                                                
|-------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|13.1.2.2 | for a period of 3 years from
    Completion employ or offer employment to any of the Company’s employees.                                                                      
|         |                                                                                                                                                                                
|13.1.3   | The restrictive covenants
      contained in Clauses 13.1.1- 13.1.2 shall not prevent the shareholders
    of Seller 1 or the Key Employees from being employed by the Company.

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|13.2 | Exceptions to Restrictive
    Covenant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     | Notwithstanding the obligations
      under Clause 13, Seller 1 and its shareholders and the Key Employees shall
      -be entitled to investments in listed companies, however maximized to five
    (5) per cent of the share capital of the respective listed company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|13.3 | Remedies for Breach of Restrictive
    Covenant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|     | In case of the Seller 1’s
      or its shareholders’ or the Key Employees’ or Seller 2’s (“the Breaching
      Party”) breach of its respective obligations under Clause 13 and if
      such breach has not been fully remedied by the Breaching Party within ten
      (10) Business Days from having received written notice from the Buyer alleging
      that a breach has occurred, the Breaching Party shall notwithstanding the
      limitations set forth in clause 7 pay the Buyer stipulated damages of DKK
      1,000,000. The Buyer may claim actual damages only to the extent such actual
      damages exceed the stipulated damages. Any payment of stipulated damages
      shall not exempt the Breaching Party from its obligations under Clause
      13. The Buyer shall further be entitled to apply for restraining injunction
      against any such breach without provision of security. In the event of
      violation of a continuing nature, each month of violation shall be deemed
    to constitute a separate violation.
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|14   | Joint and Several Liability                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|14.1 | The persons listed in Schedule
      4.4.i being the seven main shareholders of Seller 1 shall towards the
      Buyer be jointly and severally liable for Seller 1’s fulfillment
      of its obligations and covenants provided for in this Agreement, including,
      but
    not limited to Seller 1’s obligation to                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

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|       | indemnify the Buyer pursuant
    to Clause 7. This Clause 14 shall remain in force and constitute a directly
    enforceable obligation on the part of the.persons listed in Schedule 4.4
    also in case that Seller 1 is de-merged, liquidated, declared bankrupt or
    otherwise ceases to exist.                                                                                                                                                                                                                                                                                                                                          
|------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|15     | Choice of Law and Venue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|15.1   | Choice of Law                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|       | This Agreement shall be governed
      by and construed in accordance with the laws of Denmark, excluding Danish
    conflict of law rules.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|15.2   | Choice of Venue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|       | Any dispute arising out of
      or in connection with this Agreement shall be decided in accordance with
      the Rules of Procedure of the Danish Institute of Arbitration (Copenhagen
      Arbitration). Each Party shall appoint one arbitrator, and the Institute
      shall appoint the chairman of the arbitration tribunal. If a Party has
      not appointed an arbitrator within 20 (twenty) Business Days of having
      requested or received notice of the arbitration, such arbitrator will be
      appointed by the Institute in accordance with its Rules of Procedure. The
    arbitration shall be conducted in English.
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|16     | General Provisions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|16.1   | Notices                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|16.1.1 | Any notice (a “Notice”)
    given or made under or in connection with this Agreement shall be in writing.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

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|16.1.2 | Any Notice shall be addressed
    as provided in Clause 16.1.3 or to such other address of which any Party
    hereto may from time to time give Notice, and if so addressed shall be deemed
    to have been duly given and made as follows
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                             

|16.1.2.1 | if sent by personal delivery,
    upon delivery at the address of the relevant Party always provided that delivery
    takes place during normal business hours on a Business Day;
|-------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                   

|16.1.2.2 | if sent by first
    class prepaid registered mail , at 10 a.m. five (5) Business Days after the
    date of mailing; and
|-------- | -------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                          

|16.1.2.3 | if sent by fax, four (4) hours
    after its dispatch always provided (i) that the transmission is successful
    according to usual fax receipt, (ii) that such time is within normal business
    hours on a Business Day, (iii) that the recipient has not notified the sender
    that the fax was illegible (provided that such Notice is given on the same
    day), and (iv) that the Notice is at the same time forwarded by registered
    mail to the relevant Party.
|-------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

|16.1.3   | The relevant addresses and
    fax numbers of each Party for the purpose of this Agreement are as follows:
|-------- | ----------------------------------------------------------------------------------------------------------
|         |                                                                                                           
|16.1.3.1 | Seller 1:                                                                                                 
|         |                                                                                                           
|         |                                                                                                           
|         |                                                                                                           
|         |                                                                                                           
|         |                                                                                                           
|         |                                                                                                           

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|         | with a copy
    to:
|-------- | -------------------
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|16.1.3.2 | Seller 2:          
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         | with a copy to:    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|16.1.3.3 |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    
|         |                    

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|         |                
|-------- | ---------------
|         |                
|16.1.3.4 |                
|         |                
|         | The Buyer:     
|         |                
|         |                
|         |                
|         |                
|         |                
|         |                
|         |                
|         |                
|         | with a copy to:
|         |                
|         |                
|         |                
|         |                
|         |                
|         |                
|         | and to:        
|         |                
|         |                
|         |                
|         |                
|         |                
|         |                

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|16.2 | Amendments                                                                                                                    
|---- | ------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                               
|     | Any amendment to this Agreement is valid only if made in writing and signed by duly authorised representatives of the Parties.

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|16.3 | Assignment                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|     | This Agreement shall not be assigned or transferred by any Party without the prior written consent of the other Party. However, the Sellers and the Buyer may assign any of its rights and/or obligations to an entity Controlled by the Sellers or the Buyer respectively or Controlling the Sellers or the Buyer respectively, provided that the Sellers or the Buyer respectively shall remain jointly and severally liable with such entity for any and all obligations so assigned.
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|16.4 | Entire agreement                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

|     | This Agreement constitutes the whole and only agreement between the Parties relating to the transactions contemplated by the Agreement and supersedes any prior agreements, whether written or oral, relating to such transactions.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                    
|16.5 | Interpretation                                                                                                                                                                                                                     
|     |                                                                                                                                                                                                                                    

| | The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event of any ambiguity, or if a question of intent or interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favouring or disfavouring any Party by virtue of the authorship of any of the provisions of this Agreement.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|16.6 | Severability                                                                                                                                                                                                                                                                                                                                                                                                                   
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                
|     | Any provision of this Agreement held to be invalid, illegal or unenforceable shall not affect the validity, legality or enforceability of the remaining provisions hereof. The Parties shall endeavour in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

|     |                                                                                                    
|---- | ---------------------------------------------------------------------------------------------------
|16.7 | Counterparts                                                                                       
|     |                                                                                                    
|     | This Agreement may be executed in four (4) counterparts each of which shall constitute an original.

|                         |                                                                                                                                                                                                
|------------------------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|16.8                     | Cost and expenses                                                                                                                                                                              
|                         |                                                                                                                                                                                                
|                         | Each Party shall bear its own costs and expenses incurred in connection with the negotiation, preparation, and execution of this Agreement, including the fees of financial and legal advisors.
|                         |                                                                                                                                                                                                
|Copenhagen, 3 March 2004
|                         |                                                                                                                                                                                                
|For Seller 1:           

|      |      
|----- | -----
|      |      
|      |      
|      |      
|      |      
|Name: | Name:
|      |      
|      |      



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|For Seller 2:            |                                 
|------------------------ | --------------------------------
|                         |                                 
|                         |                                 
|Name:                    | Name:                           
|                         |                                 
|                         |                                 
|The Key Employees:       |                                 
|                         |                                 
|                         |                                 
|By: /s/ Morten Borum     | By: /s/ Henning Semler          
|                         |                                 
|                         |                                 
|                         |                                 
|By: /s/ Marten Guldbæk   | By: /s/ Thomas Jakobsen         
|                         |                                 
|                         |                                 
|                         |                                 
|By: /s/ Hakon Steinø     | By: /s/ Rune Maagard Brinckmeyer
|                         |                                 
|                         |                                 
|                        
|By: /s/ Jens Peter Kurup
|                         |                                 
|                         |                                 
|For the Buyer:           |                                 
|                         |                                 
|                         |                                 
|By: /s/ Michael Arnaouti | By: /s/ Stuart Cruickshank      
|                         |                                 
|                         |                                 

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Accepted with respect to Clauses
    4.4, 6.14.4, 10.3.2,
13 and 14:

|Date:                       |                        
|--------------------------- | -----------------------
|                            |                        
|                            |                        
|By: /s/ David Guldbrandsten | By: /s/ Janos Flösser  
|                            |                        
|                            |                        
|                            |                        
|By: /s/ Karsten Hvidberg    | By: /s/ Rasmus Kjær    
|                            |                        
|                            |                        
|                            |                        
|By: /s/ Martin Pollas       | By: /s/ Jesper Vorsholt
|                            |                        
|                            |                        
|                            |                        
|By: /s/ Jacob Andersen      |                        



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