Document:

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                                                                    Exhibit 10.3

                        STRATEGIC COLLABORATION AGREEMENT

         STRATEGIC COLLABORATION AGREEMENT, dated June 28, 2000, by and between
eMarketer, Inc., a corporation organized under the laws of Delaware
("eMarketer"), New Generation Holdings, Inc., a corporation organized under the
laws of Delaware ("NGH"), and New Generation Partners, Inc., a Delaware
corporation and a wholly-owned subsidiary of NGH ("NGP").

                                   W I T N E S S E T H:

         WHEREAS, NGP desires to retain eMarketer to provide information
aggregation services in connection with NGP's Internet venture development and
acceleration activities in Europe and to grant to eMarketer a preferred position
as a provider of information and statistical aggregation services required by
NGP and its network companies (for purposes of this Agreement, NGP Network
Companies shall mean those companies in which NGP or its affiliates invest or
for which NGP or its affiliates provide development and acceleration services);
and

         WHEREAS, eMarketer desires to provide NGP with such information and
statistical aggregation services as described herein;

         NOW, THEREFORE, in consideration of the mutual agreements herein, the
parties hereto, intending to be legally bound, do hereby agree as follows:

         1. RETENTION OF EMARKETER. Upon the terms and subject to the conditions
in this Agreement, NGP hereby retains eMarketer to provide the services
described herein and eMarketer accepts such retention and agrees to provide such
services.

         2. EQUITY PARTICIPATION. eMarketer shall receive 50,000 shares of NGH
(NASDAQ BB: NGPX) (the "Shares") pursuant to a separate agreement among Bachkine
& Meyer Industries S.A., NGH and eMarketer dated concurrently herewith.
eMarketer acknowledges that, as of the date of this Agreement, the Shares are
"restricted securities" within the meaning of Rule 144 promulgated by the
Securities and Exchange Commission under the Securities Exchange Act of 1933, as
amended. eMarketer further acknowledges, however, that the Shares are to be
included in NGH's Registration Statement on Form SB-2 filed with the United
States Securities and Exchange Commission, and that, upon effectiveness of such
Registration Statement, the Shares may be sold without restriction (subject to
any restrictions that may be applicable to the extent that eMarketer is deemed
to be an "affiliate" of NGH under the Securities Act of 1933, as amended, or the
Securities Exchange Act of 1934, as amended). Notwithstanding the foregoing,
eMarketer agrees that it will not sell or dispose the Shares without the prior
consent of NGP for a period of six months from the date of this Agreement.

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         3. SERVICES TO BE PROVIDED BY EMARKETER. eMarketer agrees to provide
the following services to NGP or its network companies:

            (a) eMarketer will provide the necessary resources to provide, in a
timely manner, information services which includes the aggregation of statistics
and a market analysis of the Internet marketplace, including business to
business e-commerce ("B2B") and wireless applications.

            (b) eMarketer will from time to time as events warrant provide NGP
with market information regarding incubation and accelerator businesses,
Internet oriented direct investment companies and the b2b and wireless market
segments in Europe and worldwide.

            (c) eMarketer shall provide NGP, at no cost, all of its regular
published reports. Specialized reports may be ordered by NGP or network
companies designated from time to time by NGP and shall be provided to the
extent eMarketer agrees to produce such reports on a case by case basis at an
agreed upon preferential price structure.

            (d) eMarketer shall be a preferred provider of information services
relating to the Internet for NGP and its all of its designated network
companies. In this regard, NGP agrees to use its reasonable best efforts to
introduce eMarketer to its network companies and to facilitate the provision by
eMarketer of such services to NGP's network companies.

         4. FEES. In connection with the services to be provided by eMarketer
hereunder, NGP and NGH agree to pay (or arrange for the delivery) of the
following:

            (a) eMarketer shall be reimbursed in cash for its actual direct
costs incurred by eMarketer in providing such services, including eMarketer's
direct personnel. eMarketer shall provide to NGP such documentation of the
actual costs incurred by eMarketer as NGP may reasonably request.

            (b) NGH shall issue to eMarketer (or cause one of its stockholders
to transfer to eMarketer) shares of NGH Common Stock in an amount necessary to
reimburse eMarketer's overhead and "profit" (to be mutually agreed but not fall
short of eMarketer's normal margins) in respect of the services provided by
eMarketer. Such shares of NGH stock shall be issued quarterly and calculated
using the average price of NGH Common Stock (calculated by adding the high and
the low sale prices for each trading day during the applicable quarterly period
and dividing the result by the product of two (2) and the number of trading days
during the applicable quarterly period.

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         5. COLLABORATION; BOARD MEMBERSHIP.

            (a) NGP agrees to introduce eMarketer for the purpose of the mutual
development of beneficial relationships, to NGP's partners in its "Global Impact
Group", consisting of Double Impact (San Francisco - U.S.), Strathmore Group
(New Zealand), ECOne-Tokyo (Japan) and NGP. The purpose of this group is to
develop "global" solutions to new economy entrepreneurs.

            (b) NGH agrees to nominate Mr. Terry Chabrowe, Chief Financial
Officer and Chief Technical Officer of eMarketer, to be a member of NGH's Board
of Directors.

         6. TERM. This Agreement shall commence as of the date of this Agreement
and shall continue for an indefinite term. This Agreement may be terminated on
90 days written notice by any party to the others.

         7. CONFIDENTIALITY. Each party agrees that, in providing its services
to the other party (or in the case of NGP, its investee companies), and by
virtue of the relationship of trust and confidence between the parties, each
possesses and will possess certain knowledge of operations and other
confidential information of the other party which are of a special and unique
nature and value to them. Each party covenants and agrees that it will not, at
any time, whether during the term of this Agreement or otherwise, reveal,
divulge or make known to any person or entity (other than the other party) or
use for its own account, any proprietary records, data, plans, trade secrets,
policies, strategies, methods or practices of obtaining or doing business,
computer programs, know-how or knowledge relating to customers, sales,
suppliers, market developments, equipment, processes, products or any other
confidential or proprietary information whatsoever of the other party (the
"CONFIDENTIAL INFORMATION"), whether or not obtained with knowledge and
permission of the other party and whether or not developed, devised or otherwise
created in whole or in part through the efforts of the other party. Each party
further covenants and agrees that it shall retain all Confidential Information
which it acquires or develops in trust for the sole benefit of the other party
and their successors and assigns. Confidential Information shall not include any
information which has entered the public domain otherwise than by reason of a
disclosure by the disclosing party. Each party agrees to deliver to the other
party at the termination of this Agreement or at any other time the requesting
party may request all Confidential Information which it then may possess or have
under its control.

         8. LAW APPLICABLE. This Agreement shall be governed by and construed
pursuant to the laws of New York, without giving effect to conflicts of laws
principles.

         9. NOTICES. Any notices required or permitted to be given pursuant to
this Agreement shall be sufficient, if in writing and sent by electronic mail
(with confirmation receipt), to Terry Chabrowe at 821 Broadway, New York, New
York 10023, in the case of eMarketer, and in the case of the NGH and NGP to Paul
Hokfelt at rue des Pierres du Niton 17, 1207 Geneva, Switzerland.

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         10. ASSIGNMENT, ETC. The parties acknowledge and agree that they cannot
assign or delegate any of their rights, duties, responsibilities or obligations
hereunder to any other person or entity.

         11. SEVERABILITY. If any provision of this Agreement shall be held to
be invalid or unenforceable, and is not reformed by a court of competent
jurisdiction, such invalidity or unenforceability shall attach only to such
provision and shall not in any way affect or render invalid or unenforceable any
other provision of this Agreement, and this Agreement shall be carried out as if
such invalid or unenforceable provision were not contained herein.

         12. NO WAIVER. A waiver of any breach or violation of any term,
provision or covenant contained herein shall not be deemed a continuing waiver
or a waiver of any future or past breach or violation. No oral waiver shall be
binding.

         13. COUNTERPARTS. This Agreement may be executed in counterparts, each
of which shall be an original, but all of which together shall constitute one
and the same instrument and it shall not be necessary in making proof of this
agreement to account for all such counterparts.

                  IN WITNESS WHEREOF, the undersigned have hereunto set their
hands to this Agreement on the day and year first above written.

                                      eMARKETER, INC.

                                      By:  /s/ Terry Chabrowe
                                         ------------------------------------
                                      Name: Terry Chabrowe
                                      Title: Chief Financial Officer

                                      NEW GENERATION PARTNERS, INC.

                                      By: /s/ Thomas R. Marshall
                                         ------------------------------------
                                      Name: Thomas R. Marshall
                                      Title: Executive Vice President

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                                      NEW GENERATION HOLDINGS, INC.

                                      By: /s/ Thomas R. Marshall
                                         ------------------------------------
                                      Name: Thomas R. Marshall
                                      Title: Executive Vice President

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                                                                    Exhibit 10.4

                            SHARE TRANSFER AGREEMENT

         THIS SHARE TRANSFER AGREEMENT (the "Agreement") is made and entered
into as of this 28th day of June, 2000, by and among Bachkine & Meyer
Industries, S.A., a British Virgin Islands corporation, with an address at Rue
de la Rotisserie 29, 1204 Geneva, Switzerland ("BMI"), eMarketer, Inc., a
Delaware corporation, with an address at 821 Broadway, New York, New York 10003
("eMarketer"), and New Generation Holdings, Inc., a Delaware corporation, with
an address at 245 Park Avenue, 39th Floor, New York, New York 10167 ("NGH").

                              W I T N E S S E T H:

         WHEREAS, BMI is a stockholder of NGH the parent of New Generation
Partners, Inc. ("NGPartners"). NGPartners will engage in the development of
European Internet companies to create a collaborative network of business to
business e-commerce, Internet infrastructure and wireless Internet companies;
and

         WHEREAS, eMarketer is the leading online aggregator and publisher of
news and statistics relating to the Internet marketplace; and

         WHEREAS, NGH, NGPartners and eMarketer have entered into that certain
Strategic Collaboration Agreement dated of even date herewith (the "SC
Agreement") to collaborate in developing and operating the business of
NGPartners; and

         WHEREAS, BMI has agreed to transfer shares of common stock of NGH in
accordance with first sentence of Section 2 of the SC Agreement; and

         WHEREAS, the parties desire to set forth in this Agreement the terms
and conditions applicable to this Agreement.

         NOW, THEREFORE, intending to be legally bound, the parties hereto agree
as follows:

                                    ARTICLE I

                             BMI TO TRANSFER SHARES

         1.1 TRANSFER OF SHARES. BMI agrees that in consideration of eMarketer's
contribution to NGPartners and its contribution to creating value in NGPartners,
it shall transfer to eMarketer 50,000 shares of NGH (NASDAQ BB: NGPX) common
stock as soon as the transfer restrictions presently imposed on the shares are
no longer applicable. NGH will fully cooperate in such transfer between BMI and
eMarketer.

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         1.2 REGISTRATION STATEMENT. BMI has been informed by NGH that a Form
SB-2 registration statement was filed by NGH on March 10, 2000 for the resale of
approximately 4,500,000 shares of NGH common stock by the holders thereof and
that a sufficient number of shares owned by BMI are to be included in the shares
to be registered and available to satisfy BMI's obligations under Section 1.1.
BMI and NGH shall take all necessary actions to prosecute such filing promptly
to conclusion.

         1.3 BMI AND NGH REPRESENTATIONS IN CONNECTION WITH TRANSFER. BMI and
NGH represent and warrant to eMarketer that, upon the aforementioned shares'
transfer to eMarketer, all such shares will be validly issued, fully paid, and
nonassessable, and eMarketer will acquire good title to the shares, free and
clear of any lien or other encumbrance. Such parties also represent and warrant
that all necessary actions have been taken by BMI and NGH to duly authorize and
approve such transaction.

         1.4 FURTHER ACTIONS. The parties agree to execute such further
instruments and to take such further actions as may be necessary to carry out
the intent of this Agreement.

                                   ARTICLE II

                               GENERAL PROVISIONS

         2.1 NOTICES. Any notices to be given hereunder by any party to the
other party may be effected either by personal delivery in writing or by
registered or certified mail (postage prepaid with return receipt requested),
overnight delivery service or facsimile (with a copy by registered mail). Mailed
notices shall be addressed to the parties at the addresses appearing in the
introductory paragraph of this Agreement, but each party may change such address
by written notice in accordance with this paragraph. The date upon which any
such notice is received at the designated address shall be deemed to be the date
of such notice.

         2.2 ASSIGNMENT. This Agreement may not be assigned by any party without
the prior written consent of the other parties.

         2.3 WAIVERS. Any delay or forbearance by either party in exercising any
right hereunder shall not be deemed a waiver of that right.

         2.4 ENTIRE AGREEMENT. This Agreement, the attached schedules and
exhibits constitutes the entire agreement between the parties with respect to
the subject matter hereof and supersedes any and all agreements, either oral or
written, between the parties hereto with respect to the subject matter hereof.
Each party to this Agreement acknowledges that no representations, inducements,
promises, or agreements, orally or otherwise, have been made by any party, or
anyone acting on behalf of any party, that are not embodied herein, and that no
other agreement, statement, or promise not contained in this agreement shall be
valid or binding. Any modification of this Agreement will be effective only if
it is in writing signed by the party to be charged.

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         2.5 SEVERABILITY. If any provision of this Agreement shall be held to
be invalid or unenforceable in any jurisdiction in which this Agreement is being
performed, then the meaning of such provision shall be construed so as to render
it enforceable, to the extent feasible; and if no feasible interpretation would
save such provision, it shall be severed from this Agreement and the remainder
shall remain in full force and effect. However, in the event such provision is
considered an essential element of this Agreement, the parties shall promptly
negotiate a replacement thereof

         2.6 PARTIAL INVALIDITY. If any provision in this Agreement is held by a
court of competent jurisdiction to be invalid, void, or unenforceable, the
remaining provisions will nevertheless continue in full force without being
impaired or invalidated in any way.

         2.7 GOVERNING LAW. This Agreement will be governed by and construed in
accordance with the laws of the State of New York, without regard to conflicts
of law principles.

         2.8 PUBLIC ANNOUNCEMENTS. The parties agree to cooperate in the
preparation of any public announcement or communication with any news media in
respect of this Agreement or the services performed.

         2.9 BINDING EFFECT. This Agreement shall be binding upon and shall
inure to the benefit of the parties, their successors, and permitted assigns.

         2.10 NEGOTIATED AGREEMENT. This Agreement is the result of negotiations
between the parties. Accordingly, no party to this Agreement shall be deemed to
be the author of this Agreement and there shall be no presumption that this
Agreement is to be construed for or against any party to this Agreement on the
basis of the authorship of this Agreement.

         2.11 HEADINGS. The headings in this Agreement are inserted merely for
the purpose of convenience and shall not affect the meaning or interpretation of
this Agreement.

         2.12 COUNTERPARTS. This Agreement may be executed in counterparts, each
of which shall be an original, but all of which together shall constitute one
and the same instrument and it shall not be necessary in making proof of this
agreement to account for all such counterparts.

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         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the date first written above.

BACHKINE & MEYER INDUSTRIES, S.A              eMARKETER, INC.

By: /s/ Jacques Mot                           By: /s/ Terry Chabrowe
    -----------------------------                 ------------------------------
Name: Jacques Mot                             Name: Terry Chabrowe
Title: Chairman                               Title: Chief Financial Officer

NEW GENERATION HOLDINGS, INC

By:  /s/ Paul Hokfelt
   ------------------------------
Name: Paul Hokfelt
Title: Chief Executive Officer

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