Document:

Form of Junior Subordinated Debenture

 EXHIBIT 4.7 
 FORM OF DEBT SECURITY 
 [FORM OF FACE OF SECURITY] 
 THIS SECURITY IS A GLOBAL DEBENTURE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST
COMPANY (“DTC”) OR A NOMINEE OF DTC. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS
SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR
PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS SECURITY WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM DENOMINATIONS OF $100,000 AND MULTIPLES OF $1,000 IN EXCESS THEREOF. ANY ATTEMPTED
TRANSFER OF THIS SECURITY IN DENOMINATIONS OF LESS THAN $100,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION
HEREIN FOR ANY PURPOSE, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS SECURITY OR SUCH INTEREST OR PARTICIPATION, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST WHATSOEVER IN THIS SECURITY OR ANY INTEREST OR
PARTICIPATION HEREIN. 
 THIS OBLIGATION IS NOT A DEPOSIT AND IS NOT INSURED BY THE UNITED STATES OR ANY AGENCY OR FUND OF THE UNITED
STATES, INCLUDING THE FEDERAL DEPOSIT INSURANCE CORPORATION (THE “FDIC”). THIS OBLIGATION IS SUBORDINATED TO THE CLAIMS OF THE DEPOSITORS AND THE CLAIMS OF GENERAL AND SECURED CREDITORS OF THE COMPANY, IS INELIGIBLE AS COLLATERAL FOR A
LOAN BY THE COMPANY OR ANY OF ITS SUBSIDIARIES AND IS NOT SECURED. 
  

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 Fixed Rate Junior Subordinated Debt Security due 2038 
 of 
 AMERICANWEST BANCORPORATION 
 AmericanWest Bancorporation, a bank holding company incorporated in Washington (the “Company”, which term includes any successor permitted under the Indenture
(as defined herein)), for value received, promises to pay to Wilmington Trust Company, not in its individual capacity but solely as Institutional Trustee for AmericanWest Capital Trust IV, a Delaware statutory trust, or registered assigns, the
principal amount of                              Dollars
($                    ) on                     ,
2038 (the “Maturity Date”) (or any Optional Redemption Date or the Special Redemption Date, each as defined herein, or any earlier date of acceleration of the maturity of this Debt Security), and to pay interest on the outstanding
principal amount of this Debt Security from                     , or from the most recent Interest Payment Date (as defined below) to which interest
has been paid or duly provided for, quarterly (subject to deferral as set forth herein) in arrears on                     ,
                    ,                      and
                     of each year, commencing on
                    , 2008 (each, an “Interest Payment Date”), at a per annum rate of     % (the “Interest
Rate”) until the principal hereof shall have been paid or duly provided for, and on any overdue principal and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment
of interest at an annual rate equal to     %, compounded quarterly. 
 The interest installment so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor Securities, as defined in the Indenture) is registered at the
close of business on the “regular record date” for such interest installment, which shall be the fifteenth day prior to such Interest Payment Date, whether or not such day is a Business Day (as defined herein). Any such interest
installment (other than Deferred Interest (as defined herein)) not punctually paid or duly provided for shall forthwith cease to be payable to the holders on such regular record date and may be paid to the Person in whose name this Debt Security (or
one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the holders of the Debt Securities not less
than 10 days prior to such special record date, all as more fully provided in the Indenture. 
 Payment of the principal of and premium, if
any, and interest on this Debt Security due on the Maturity Date, any Optional Redemption Date or the Special Redemption Date, as the case may be, shall be made in immediately available funds against presentation and surrender of this Debt Security
at the office or agency of the Trustee maintained for that purpose in Wilmington, Delaware, or at the office or agency of any other Paying Agent appointed by the Company maintained for that purpose in Wilmington, Delaware or Spokane, Washington.
Payment of interest on this Debt Security due on any Interest Payment Date other than the Maturity Date, any Optional Redemption Date or the Special Redemption Date, as the case may be, shall be made at the option of the Company by check mailed to
the holder thereof at such address as shall appear in the Debt Security Register or by wire transfer of immediately available 

  

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funds to an account appropriately designated by the holder hereof. Notwithstanding the foregoing, so long as the holder of this Debt Security is the
Institutional Trustee, payment of the principal of and premium, if any, and interest on this Debt Security shall be made in immediately available funds when due at such place and to such account as may be designated by the Institutional Trustee. All
payments in respect of this Debt Security shall be payable in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts. 
 Notwithstanding anything to the contrary contained herein, if any Interest Payment Date after the Interest Payment Date in
                 2013, other than the Maturity Date, any Optional Redemption Date or the Special Redemption Date, falls on a day that is not a Business Day, then
any interest payable will be paid on, and such Interest Payment Date will be moved to, the next succeeding Business Day, and additional interest will accrue for each day that such payment is delayed as a result thereof. If any Interest Payment Date
on or prior to the Interest Payment Date in                      2013, the Maturity Date, any Optional Redemption Date or the Special Redemption Date
falls on a day that is not a Business Day, then the principal, premium, if any, and/or interest payable on such date will be paid on the next succeeding Business Day, and no additional interest will accrue in respect of such payment made on such
next succeeding Business Day. 
 So long as no Event of Default pursuant to Sections 5.01(b), (e), (f), (g), (h) or (i) of the
Indenture has occurred and is continuing, the Company shall have the right, from time to time and without causing an Event of Default, to defer payments of interest on the Debt Securities by extending the interest payment period on the Debt
Securities at any time and from time to time during the term of the Debt Securities, for up to 20 consecutive quarterly periods (each such extended interest payment period, together with all previous and further consecutive extensions thereof, is
referred to herein as an “Extension Period”). No Extension Period may end on a date other than an Interest Payment Date or extend beyond the Maturity Date, any Optional Redemption Date or the Special Redemption Date, as the case may be.
During any Extension Period, interest will continue to accrue on the Debt Securities, and interest on such accrued interest (such accrued interest and interest thereon referred to herein as “Deferred Interest”) will accrue at an annual
rate equal to the Interest Rate applicable during such Extension Period, compounded quarterly from the date such Deferred Interest would have been payable were it not for the Extension Period, to the extent permitted by applicable law. No interest
or Deferred Interest (except any Additional Amounts (as defined in the Indenture) that may be due and payable) shall be due and payable during an Extension Period, except at the end thereof. At the end of any Extension Period, the Company shall pay
all Deferred Interest then accrued and unpaid on the Debt Securities; provided, however, that during any Extension Period, the Company may not (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or
make a liquidation payment with respect to, any of the Company’s capital stock, (ii) vote in favor of or permit or otherwise allow any of its Subsidiaries (as defined in the Indenture) to declare or pay any dividends or distributions on,
or redeem, purchase, acquire or make a liquidation payment with respect to or otherwise retire, any of such Subsidiary’s equity interests entitling the holders thereof to a stated rate of return other than dividends or distributions on equity
interests payable to the Guarantor or any Subsidiary thereof (for the avoidance of doubt, whether such Equity Interests are perpetual or otherwise), or (iii) make any payment of principal of or premium, if any, or interest on or repay,
repurchase or redeem any debt securities of the 

  

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Company that rank pari passu in all respects with or junior in interest to the Debt Securities or (iv) make any payment under any guarantees of
the Company that rank in all respects pari passu with or junior in respect to the Capital Securities Guarantee (other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with
(A) any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or consultants, (B) a dividend reinvestment or stockholder stock purchase plan or (C) the
issuance of capital stock of the Company (or securities convertible into or exercisable for such capital stock), as consideration in an acquisition transaction entered into prior to such Extension Period, (b) as a result of any exchange or
conversion of any class or series of the Company’s capital stock (or any capital stock of a subsidiary of the Company) for any class or series of the Company’s capital stock or of any class or series of the Company’s indebtedness for
any class or series of the Company’s capital stock, (c) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being
converted or exchanged, (d) any declaration of a dividend in connection with any stockholder’s rights plan, or the issuance of rights, stock or other property under any stockholder’s rights plan, or the redemption or repurchase of
rights pursuant thereto or (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the
dividend is being paid or ranks pari passu with or junior to such stock). Prior to the termination of any Extension Period, the Company may further extend such Extension Period, provided, that no Extension Period (including all
previous and further consecutive extensions that are part of such Extension Period) shall exceed 20 consecutive quarterly periods. Upon the termination of any Extension Period and upon the payment of all Deferred Interest, the Company may commence a
new Extension Period, subject to the foregoing requirements. The Company must give the Trustee notice of its election to begin or extend an Extension Period no later than the close of business on the fifteenth Business Day prior to the applicable
Interest Payment Date. 
 The indebtedness evidenced by this Debt Security is, to the extent provided in the Indenture, subordinate and
junior in right of payment to the prior payment in full of all Senior Indebtedness (as defined in the Indenture), and this Debt Security is issued subject to the provisions of the Indenture with respect thereto. Each holder of this Debt Security, by
accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on such holder’s behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the
subordination so provided and (c) appoints the Trustee such holder’s attorney-in-fact for any and all such purposes. Each holder hereof, by such holder’s acceptance hereof, hereby waives all notice of the acceptance of the
subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 The Company waives diligence, presentment, demand for payment, notice of nonpayment, notice of protest, and all other demands and notices. 
 This Debt Security shall not be entitled to any benefit under the Indenture hereinafter referred to and shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by or on behalf of the Trustee. 
  

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 The provisions of this Debt Security are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Debt Security may contain more than
one counterpart of the signature page and this Debt Security may be executed and authenticated by the affixing of the signature of a proper officer of the Company, and the signature of the Trustee providing authentication, to any of such counterpart
signature pages. All of such counterpart signature pages shall be read as though one, and they shall have the same force and effect as though the Company had executed, and the Trustee had authenticated, a single signature page. 
  

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 IN WITNESS WHEREOF, the Company has duly executed this certificate. 
  

			
	AMERICANWEST BANCORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

 Dated:
                    , 20         
 CERTIFICATE OF AUTHENTICATION 
 This certificate represents Debt Securities referred to
in the within-mentioned Indenture. 
  

			
	 WILMINGTON TRUST COMPANY,
   not in
its individual capacity but solely as
   the Trustee

	
		
	By:	 	 
		 	Authorized Officer

 Dated:
                    , 20         
  

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 [FORM OF REVERSE OF SECURITY] 
 This Debt Security is one of a duly authorized series of debt securities of the Company (collectively, the “Debt Securities”), all issued or to
be issued pursuant to an Indenture (the “Indenture”), dated as of                     , 2008, duly executed and delivered between the
Company and Wilmington Trust Company, as Trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Company and the holders of the Debt Securities of which this Debt Security is a part. 
 Upon the
occurrence and continuation of a Tax Event, an Investment Company Event or a Capital Treatment Event (each, a “Special Event”), the Company shall have the right to redeem this Debt Security, at its option, in whole with all other Debt
Securities but not in part, at any time, within 90 days following the occurrence of such Special Event (the “Special Redemption Date”), at the Special Redemption Price (as defined herein). 
 The Company shall also have the right to redeem this Debt Security at its option, in whole or (provided that all accrued and unpaid interest has been
paid on all Debt Securities for all interest periods terminating on or prior to such date) from time to time in part, on any Interest Payment Date on or after
                    , 2013 (each, an “Optional Redemption Date”), at the Optional Redemption Price (as defined herein). 
 Any redemption pursuant to the preceding two paragraphs will be made, subject to receipt by the Company of prior approval from the Federal Reserve if
then required under applicable capital guidelines or policies of the Federal Reserve, upon not less than 30 days’ nor more than 60 days’ prior written notice. If the Debt Securities are only partially redeemed by the Company, the Debt
Securities will be redeemed pro rata or by any other method utilized by the Trustee. In the event of redemption of this Debt Security in part only, a new Debt Security or Debt Securities for the unredeemed portion hereof will be issued in the name
of the holder hereof upon the cancellation hereof. 
 “Optional Redemption Price” means an amount in cash equal to 100% of the
principal amount of this Debt Security being redeemed plus unpaid interest accrued thereon to the related Optional Redemption Date. 
 “Special Redemption Price” means, with respect to the redemption of this Debt Security following a Special Event, an amount in cash equal to     % of the principal amount of this Debt Security to be redeemed
prior to                     , 2009 and thereafter equal to the percentage of the principal amount of this Debt Security that is specified below for
the Special Redemption Date plus, in each case, unpaid interest accrued thereon to the Special Redemption Date: 
  

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	 Special Redemption During the 12-Month Period Beginning
                    ,     
	  	Percentage of Principal Amount	 
	 2009
	  	    	%
	 2010
	  	    	%
	 2011
	  	    	%
	 2012
	  	    	%
	 2013 and thereafter
	  	    	%

 In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing,
the principal of all of the Debt Securities may be declared, and, in certain cases, shall ipso facto become, due and payable, and upon any such declaration of acceleration shall become due and payable, in each case, in the manner, with the
effect and subject to the conditions provided in the Indenture. 
 The Indenture contains provisions permitting the Company and the Trustee,
with the consent of the holders of a majority in aggregate principal amount of the Debt Securities at the time outstanding affected thereby, as specified in the Indenture, to execute supplemental indentures for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Debt Securities; provided, however, that no such
supplemental indenture shall, among other things, without the consent of the holders of each Debt Security then outstanding and affected thereby (i) change the Maturity Date of any Debt Security, or reduce the principal amount thereof or any
premium thereon, or reduce the rate (or manner of calculation of the rate) or extend the time of payment of interest thereon, or reduce (other than as a result of the maturity or earlier redemption of any such Debt Security in accordance with the
terms of the Indenture and such Debt Security) or increase the aggregate principal amount of Debt Securities then outstanding, or change any of the redemption provisions, or make the principal thereof or any interest or premium thereon payable in
any coin or currency other than United States Dollars, or impair or affect the right of any holder to institute suit for payment thereof, or (ii) reduce the aforesaid percentage of Debt Securities the holders of which are required to consent to
any such supplemental indenture. The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Debt Securities at the time outstanding, on behalf of the holders of all the Debt Securities, to waive
any past default in the performance of any of the covenants contained in the Indenture, or established pursuant to the Indenture, and its consequences, except (a) a default in payments due in respect of any of the Debt Securities, (b) in
respect of covenants or provisions of the Indenture which cannot be modified or amended without the consent of the holder of each Debt Security affected, or (c) in respect of the covenants of the Company relating to its ownership of Common
Securities of the Trust. Any such consent or waiver by the holder of this Debt Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such holder and upon 

  

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all future holders and owners of this Debt Security and of any Debt Security issued in exchange herefor or in place hereof (whether by registration of
transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Debt Security. 
 No
reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to make all payments due on this Debt Security at the time and
place and at the rate and in the money herein prescribed. 
 As provided in the Indenture and subject to certain limitations herein and
therein set forth, this Debt Security is transferable by the holder hereof on the Debt Security Register (as defined in the Indenture) of the Company, upon surrender of this Debt Security for registration of transfer at the office or agency of the
Trustee in Wilmington, Delaware, or at any other office or agency of the Company in Wilmington, Delaware or Spokane, Washington, accompanied by a written instrument or instruments of transfer in form satisfactory to the Company or the Trustee duly
executed by the holder hereof or such holder’s attorney duly authorized in writing, and thereupon one or more new Debt Securities of authorized denominations and for the same aggregate principal amount will be issued to the designated
transferee or transferees. No service charge will be made for any such registration of transfer, but the Company or the Trustee may require payment of a sum sufficient to cover any tax, fee or other governmental charge payable in relation thereto as
specified in the Indenture. 
 Prior to due presentment for registration of transfer of this Debt Security, the Company, the Trustee, any
Authenticating Agent, any Paying Agent, any transfer agent and the Debt Security registrar may deem and treat the holder hereof as the absolute owner hereof (whether or not this Debt Security shall be overdue and notwithstanding any notice of
ownership or writing hereon) for the purpose of receiving payment of the principal of and premium, if any, and interest on this Debt Security and for all other purposes, and none of the Company, the Trustee, any Authenticating Agent, any Paying
Agent, any transfer agent or any Debt Security registrar shall be affected by any notice to the contrary. 
 As provided in the Indenture and
subject to certain limitations herein and therein set forth, Debt Securities are exchangeable for a like aggregate principal amount of Debt Securities of different authorized denominations, as requested by the holder surrendering the same.

 The Debt Securities are issuable only in registered certificated form without coupons. 
 No recourse shall be had for the payment of the principal of or premium, if any, or interest on this Debt Security, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer, director, employee or agent, past, present or future, as such, of the Company or of any predecessor or successor corporation of
the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof,
expressly waived and released. 
  

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 All terms used but not defined in this Debt Security shall have the meanings assigned to them in the
Indenture. 
 THIS DEBT SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO
CONFLICT OF LAWS PRINCIPLES OF SAID STATE OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
  

 A-10Amended and Restated Employment Agreement

 Exhibit 10.1 
 

 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of June 11, 2008, (the “Effective Date”) by and between
Central European Distribution Corporation, Inc., a Delaware corporation (the “Company”), and William V. Carey (the “Officer”). 
 WHEREAS, the Company and the Officer previously entered into an employment agreement dated January 17, 2005, and subsequently amended such agreement (as amended, the “Prior Agreement”), which governed the terms and conditions
of the Officer’s employment with the Company during the term of the Prior Agreement, including services provided by the Officer to Carey Agri International Poland Sp. z o.o. (the “Subsidiary”); and 
 WHEREAS, the Company desires to continue to employ the Officer, and the Officer desires to continue to be employed by the Company, on the terms and conditions set forth
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt
and sufficiency of which hereby are acknowledged, the parties hereto agree as follows: 
  

	1.	Employment. 

 On the terms
and conditions set forth in this Agreement, the Company agrees to employ the Officer and the Officer agrees to be employed by the Company for the term set forth in Section 2 hereof and in the position and with the duties set forth in
Section 3 hereof. 

	2.	Term. 

 The term of
employment of the Officer by the Company as provided in Section 1 hereof shall commence as of the Effective Date and end on December 31, 2009 (the “Term”). December 31, 2009 shall hereafter be referred to as the
“Expiration Date”. 
  

	3.	Position and Duties. 

 The
Officer shall serve as President and Chief Executive Officer of the Company and as President and Chief Executive Officer of the Subsidiary, with such duties and responsibilities as the board of directors of the Company and/or the Subsidiary may from
time to time determine and assign to the Officer. Additionally, the Officer shall serve as the chairman of the management board and the managing director of the Subsidiary. The Officer shall devote the Officer’s reasonable best efforts and
substantially full business time to the performance of the Officer’s duties and the advancement of the business and affairs of the Company and the Subsidiary. The Officer acknowledges that it is the intent of the Company that his primary
responsibilities shall be in connection with the business of the Company and/or Subsidiary. 
  

	4.	Place of Performance. 

 In
connection with the Officer’s employment by the Company, the Officer shall be based at the principal executive office of the Subsidiary, which the Company retains the right to change in its discretion, or such other place as the Company and the
Officer mutually agree, except for required travel on Company business. 
  

	5.	Compensation. 

  

	 	5(a)	 Base salary. The parties agree and acknowledge that since January 1, 2008 and through December 31, 2008, the Officer shall be paid base salary in the
amount of Five-Hundred-Fifty-Seven Thousand Nine-Hundred-Forty-Eight USD ($557,948) gross per annum by the Company and Subsidiary, in the aggregate, and the parties further agree that from January 1, 2009 through December 31, 2009, the
Officer shall be paid base salary in the amount of Six-Hundred-Seven Thousand Nine-Hundred-Forty-Eight USD ($607,948) gross per annum by the Company and Subsidiary, in the aggregate (the aggregate annual base 

  

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salary in effect from time to time, the “Base Salary”). Any portion of the Base Salary may be paid by the Subsidiary as determined by the Company
in the Company’s sole discretion. 

 If the Officer’s Base Salary is increased, the increased
amount shall be the Base Salary for the remainder of the employment term hereunder, except that the Company may reduce the Officer’s Base Salary at any time as part of a general salary reduction applied to all employees of the Company with
annual salaries in excess of Sixty Thousand USD ($60,000) (the “Senior Executive Group”) in which case the Officer’s reduced Base Salary shall be the Base Salary for the remainder of the employment term hereunder. Any such reduction
in the Officer’s Base Salary shall be no more than the lesser of the median percentage salary reduction applied to the Senior Executive Group or twenty percent (20%). The Base Salary shall be payable weekly or in such other installments as
shall be consistent with the Company’s payroll procedures. 
  

	 	5(b)	Bonus. For each of fiscal years 2008 and 2009, the Officer shall be entitled to receive forty-seven percent (47%) of the aggregate cash bonus payable under the Company’s
Executive Bonus Plan, the amount and rules of payout of such aggregate cash bonus being established annually by the Board of Directors. Such bonus shall be paid no later than March 15 of the calendar year following the calendar year in which
the services relating to such bonus are performed by the Officer. 

  

	 	5(c)	Options. On January 1, 2009, the Officer shall be granted options to purchase 50,000 shares of the Company’s common stock, with such grant to vest 100% on the two-year
anniversary of the grant date. The exercise price of such grant shall be the closing price of the Company’s common stock on the trading day immediately preceding the grant date. 

  

	 	5(d)	Specific Benefits. The Officer shall receive the following fringe benefits, subject to the Company’s policies in effect from time to time: 

  

	 	(d)(i)	Company Car 

  

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	 	(d)(ii)	Health plan – Medicover card 

  

	 	(d)(iii)	Housing allowance of Thirty-Six Thousand USD ($36,000) per year 

  

	 	(d)(iv)	School Fee allowance of Eighteen Thousand USD ($18,000) per year to be paid for educational expenses of the Officer’s children 

  

	 	(d)(v)	Travel and Club Membership allowance of Ten Thousand USD ($10,000) per year to be paid for personal travel to the United States and club membership and related personal/health
costs. 

  

	 	(d)(vi)	Security at all times for the Officer and his family as well as pay certain housing expenditures (telephone, electricity) at an annual cost of up to Fifty Thousand USD ($50,000) per
year 

  

	 	(d)(vii)	Family flight tickets to the USA for the Officer’s family at an annual cap of Fourteen Thousand ($14,000) USD per year 

  

	 	5(e)	Other Benefits. 

 The Officer also shall
be entitled to participate in such other benefit plans and to receive such bonuses, incentive compensation and fringe benefits as may be granted or established by the Company and/or Subsidiary from time to time, including the use of an automobile.
The Company and Subsidiary each reserve the right to amend, modify or terminate any compensation or benefit plans, policies or agreements at any time and form time to time in the Company’s or Subsidiary’s discretion, including, without
limitation, changing carriers or effecting modifications in insurance coverage for the Officer. 
  

	 	5(f)	Vacation: Holidays. The Officer shall be entitled to all public holidays observed by the Subsidiary, and shall be entitled to thirty (30) vacation days per year, in accordance
with the applicable vacation policies for senior executives of the Company and applicable law, which shall be taken at a reasonable time or times. 

  

	 	5(g)	 Cost-of-Living Adjustments. Any payment to the Officer made under this Agreement in cash or a cash equivalent (including, without limitation, any base 

  

 4 

	 	 
salary, bonus or reimbursement, and any corresponding payment, if any, due hereunder following the Officer’s termination of employment with the Company
and the Subsidiary) shall be subject to increase or decrease pursuant to a cost-of-living adjustment (the “COLA”). The COLA shall be based on the spot foreign exchange rate of PLN to USD on the day which is twenty (20) business days
prior to the date of the applicable payment (such rate, the “FX Rate”), and the COLA shall be determined as follows: 

  

	 	(g)(i)	If the FX Rate is below 2.45, then the applicable payment shall be increased by 80% × the applicable payment × ((2.45 ÷ FX Rate) - 1).

  

	 	(g)(ii)	If the FX Rate is above 3.00, then the applicable payment shall be decreased by 80% × the applicable payment × ((3.00 ÷ FX Rate) - 1).

  

	 	(g)(iii)	If the FX Rate is greater than or equal to 2.45 but is less than or equal to 3.00, then the applicable payment shall not be adjusted. 

 Any COLA under this Section 5(g) (including with respect to payments made by the Subsidiary) shall be paid by the Company. The Company’s
Compensation Committee may revise the COLA in any manner, but shall only make such revisions applicable to payments prospectively from the date of revision. Without limiting the foregoing, the COLA shall apply to payments of salary and bonus made by
the Company and Subsidiary to the Officer during calendar year 2008 prior to the Effective Date; such COLA shall be paid within 30 calendar days following the Effective Date. 
  

	 	5(h)	Withholding Taxes and Other Deductions. The Company and the Subsidiary shall withhold from any payments to the Officer, or with respect to any benefits provided under this
Agreement, any applicable taxes or other deductions as the Company or Subsidiary determine must be withheld pursuant to applicable law or payroll policies. 

  

	6.	Expenses. 

  

	 	6(a)	The Company or the Subsidiary shall reimburse the Officer for all reasonable expenses incurred by the Officer (in accordance with the policies and procedures in effect for senior
executives of the Company and the Subsidiary) in connection with the Officer’s services under this Agreement. The Officer shall account to the Company or the Subsidiary, as the case may be, for such expenses in accordance with policies and
procedures established by the Company or the Subsidiary. 

  

 5 

	 	6(b)	All reimbursements and in-kind benefits provided under the Agreement which are subject to Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the
“Code”), shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement shall be for expenses incurred during the Officer’s
lifetime (or during a shorter period of time specified in this agreement), (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or
in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right
to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

  

	7.	Confidential Information. 

  

	 	7(a)	The Officer covenants and agrees that the Officer will not ever, without the prior written consent of the Board or a person authorized by the Board, publish or disclose to any
unaffiliated third party or use for the Officer’s personal benefit or advantage any confidential information with respect to any of the Company’s or Subsidiary’s products, services, subscribers, suppliers, marketing techniques,
methods or future plans disclosed to the Officer as a result of the Officer’s employment with the Company, to the extent such information has heretofore or shall hereafter remain confidential (except for unauthorized disclosures) and except as
otherwise ordered by a court of competent jurisdiction. 

  

	 	7(b)	 The Officer acknowledges that the restrictions contained in Section 7 (a) hereof are reasonable and necessary, in view of the nature of the Company’s
business, in order to protect the legitimate interests of the Company, and that any violation thereof would result in irreparable injury to the Company. Therefore, the Officer agrees that in the event of a breach or threatened breach by the 

  

 6 

	 	 
Officer of the provisions of Section 7(a) hereof, the Company shall be entitled to obtain from any court of competent jurisdiction, preliminary or
permanent injunctive relief restraining the Officer from disclosing or using any such confidential information. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or
threatened breach, including, without limitation, recovery of damages from the Officer. 

  

	 	7(c)	The Officer shall deliver promptly to the Company on termination of employment, or at any other time the Company may so request, all confidential memoranda, notes, records, reports
and other documents (and all copies thereof) relating to the Company’s and its affiliates’ businesses which the Officer obtained while employed by, or otherwise serving or acting on behalf of, the Company or which the Officer may then
possess or have under his or her control. 

  

	8.	Reserved. 

  

	9.	Termination of Employment. 

  

	 	9(a)	Death. The Officer’s employment hereunder shall terminate upon the Officer’s death. 

  

	 	9(b)	By the Company. The Company may terminate the Officer’s employment hereunder under the following circumstances. 

  

	 	(b)(i)	If the Officer shall have been unable to perform all of the Officer’s duties hereunder by reason of illness, physical or mental disability or other similar incapacity, which
inability shall continue for more than six (6) consecutive months, the Company may terminate the Officer’s employment hereunder. 

  

	 	(b)(ii)	The Company may terminate the Officer’s employment hereunder for “Cause.” For purposes of this Agreement, “Cause” shall mean any of the following:

  

	 	(ii)(A)	the willful refusal by the Officer to follow a written order of the Chairman of the Board or the Board of Directors, in so far as the request does not breach any federal, state or
local law; 

  

 7 

	 	(ii)(B)	the Officer’s willful engagement in conduct materially injurious to the Company; 

  

	 	(ii)(C)	dishonesty of a material nature that relates to the performance of the Officer’s duties under this Agreement; 

  

	 	(ii)(D)	the Officer’s conviction of any felony involving moral turpitude; or, 

  

	 	(ii)(E)	the Officer’s continued failure to perform his duties under this Agreement (except due to the Officer’s incapacity as a result of physical or mental illness) to the
satisfaction of the Board of Directors of the Company for a period of at least forty-five (45) consecutive days after written notice from the Board of Directors is delivered to the Officer specifically identifying the manner in which the
Officer has failed to perform his duties. 

 In addition, the Company may terminate the Officer’s
employment for “Cause” if the normal business operations of the Company are rendered commercially impractical as a consequence of an act of God, accident, fire, labor controversy, riot or civil commotion, act of public enemy, law,
enactment, rule, order, or any act of government or governmental instrumentality, failure of facilities, or other cause of a similar or dissimilar nature that is not reasonably within the control of the Company or which the Company could not, by
reasonable diligence, have avoided. 
  

	 	9(c)	 By the Officer for Good Reason. The Officer may terminate the Officer’s employment hereunder for “Good Reason.” For purposes of this
Agreement, “Good Reason” shall mean (i) the Company’s failure to perform or observe any of the material terms or provisions of this Agreement, and the continued failure of the Company to cure such default within thirty
(30) days after written 

  

 8 

	 	 
demand for performance has been given to the Company by the Officer, which demand shall describe specifically the nature of such alleged failure to perform
or observe such material terms or provisions; or (ii) a material reduction in the scope of the Officer’s responsibilities and duties for the Company or the Subsidiary. 

  

	 	9(d)	Either the Company or the Officer may terminate the Officer’s employment for any reason, other than the reasons specified in Sections 9(b) or (c), upon written notice to the
other party as specified in Section 9(e)(iii). 

  

	 	9(e)	Notice of Termination. 

  

	 	(e)(i)	Any termination of the Officer’s employment by the Company or the Officer (other than pursuant to Section 9(a) hereof) shall be communicated by written “Notice of
Termination” to the other party hereto in accordance with Section 11 hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the Date of Termination, the specific termination
provision in this Agreement relied upon, if any, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Officer’s employment under the provision so indicated.

  

	 	(e)(ii)	For any termination of the Officer’s employment by the Company pursuant to Section 9(b)(i), the Company may give Notice of Termination at any time after the six
(6) consecutive month period in Section 9(b)(i) has ended. 

  

	 	(e)(iii)	For any termination of the Officer’s employment by either the Company or the Officer pursuant to Section 9(d), twelve (12) months notice must be provided in a Notice
of Termination. 

  

	 	(e)(iv)	 Notwithstanding any other provision of this Agreement to the contrary, if the Officer’s employment is terminated under Section 9(c) or Section 9(d),
the Company, in its sole discretion, may accelerate the Date of Termination that is specified in the Notice of Termination, in which 

  

 9 

	 	 
case (i) if the Officer terminated his employment with the Company pursuant to Section 9(c), or if the Company terminated the Officer’s
employment pursuant to Section 9(d) without Cause, the Officer shall receive compensation and benefits pursuant to Section 10(e) without further payment with respect to the shortened notice period, and (ii) if the Officer terminated
his employment pursuant to Section 9(d) without Good Reason, he shall receive from the Company, in accordance with the Company’s regularly scheduled payroll, pay in lieu of notice for the portion of the twelve (12) month notice period
remaining after the accelerated Date of Termination. 

  

	 	(e)(v)	It is understood by both the Company and the Officer that termination of this agreement terminates by association any employment agreement with any and all of the Company’s
subsidiaries. 

  

	 	9(f)	Date of Termination. For purposes of this Agreement, the “Date of Termination” shall mean (i) if the Officer’s employment is terminated by the
Officer’s death, the date of the Officer’s death; (ii) if the Officer’s employment is terminated pursuant to Section 9(b)(i) hereof, thirty (30) days after Notice of Termination, provided that the Officer shall not have
returned to the performance of the Officer’s duties on a full-time basis during such thirty (30) day period; (iii) if the Officer’s employment is terminated for any other reason, the date specified as the Date of Termination in
the Notice of Termination. Notwithstanding the previous sentence, in the case of a termination pursuant to Section 9(b)(ii), Section 9(c) or Section 9(d), if payments to the Officer may be subject to Section 409A of the Code, the
Date of Termination shall be no later than the date the Officer experiences a “separation from service” as such term is defined under Section 409A of the Code. 

  

	10.	Compensation Upon Termination. 

  

	 	10(a)	 If the Officer’s employment is terminated by the Officer’s death, the Company shall pay all Accrued Obligations to the Officer’s estate, or as may be
directed by the legal representatives of such estate, and the Company shall have no further obligations to the Officer under this Agreement. “Accrued 

  

 10 

	 	 
Obligations” shall mean the following: (1) the lump sum amount of any Base Salary accrued but unpaid through the Date of Termination, (2) the
lump sum amount of any earned but unpaid annual bonus for periods with respect to which the performance period to earn such bonus has closed under the Executive Bonus plan, (3) the lump sum amount of any accrued but unused paid time off or sick
pay in accordance with Company policy and applicable law, (4) the lump sum of any business expenses incurred which have been properly submitted for reimbursement in accordance with Company and/or Subsidiary policy, but not reimbursed prior to
the Date of Termination, and (5) any other compensation or benefits which may be owed or provided to or in respect of the Officer, paid or provided in accordance with the terms and provisions of the applicable benefit plans or programs of the
Company and/or Subsidiary. For all purposes of this Agreement, the cash payments payable to, or with respect to, the Officer under clauses (1), (2) and (3) of the definition of Accrued Obligations shall be paid within ten (10) days of
the Date of Termination or, if earlier, in accordance with applicable law. 

  

	 	10(b)	If the Company terminates the Officer’s employment due to a disability as provided in Section 9(b)(i) hereof,, the Officer shall be paid all Accrued Obligations and the
Company shall have no further obligations to the Officer under this Agreement. 

  

	 	10(c)	If the Company terminates the Officer’s employment for Cause as provided in Section 9(b)(ii) hereof, the Company shall pay the Officer all Accrued Obligations and the
Company shall have no further obligations to the Officer under this Agreement. 

  

	 	10(d)	If the Officer terminates the Officer’s employment other than for Good Reason, the Company shall pay to the Officer all Accrued Obligations and the Company shall have no
further obligations to the Officer under this Agreement. 

  

	 	10(e)	 If the Company terminates the Officer’s employment other than for Cause, disability or death, or if the Officer terminates the Officer’s employment for
Good Reason as provided in Section 9(c) hereof, and such termination does not 

  

 11 

	 	 
constitute a Qualifying CIC Termination, the Company shall: (i) pay or provide to the Officer all Accrued Obligations; and (ii) pay the Officer in
a single lump sum payment, within thirty (30) calendar days of his Date of Termination, the full Base Salary, bonuses and incentive compensation that would have been payable to the Officer under Sections 5(a), (b) and (c) from the
Date of Termination (without duplication of payments made to the Officer during the applicable notice period) through the Expiration Date, and pay the Officer any other amounts and provide to the Officer benefits that would have been received by him
under Sections 5(a), (b) and (c) hereof, at the time such amounts or benefits would otherwise have been due in accordance with the Company’s normal payroll practices, and the Company shall have no further obligations to the Officer
under this Agreement. For purposes of Section 10(e)(ii), the Officer will be considered to be entitled to an annual cash bonus equal to the average dollar bonus earned by the Officer during the Company’s two fiscal years immediately prior
to Officer’s Date of Termination. 

  

	 	10(f)	Mitigation. The Officer shall not be required to mitigate amounts payable pursuant to Section 10(a) through Section 10(e) hereof by seeking other employment,
provided, however, that any sums earned by the Officer pursuant to any subsequent employment shall be offset against any remaining obligation the Company may have to pay by virtue of termination under this Agreement and, further provided
that, the Company’s obligation to continue to provide the Officer with benefits pursuant to Section 10(e), above, shall cease if the Officer becomes eligible to participate in benefit plans or otherwise receive employer-provided benefits
substantially similar to those provided for in this Agreement as a result of the Officer’s employment during the period that the Officer is entitled to such fringe benefits. The Officer must provide prompt notice to the Company upon acceptance
of any subsequent employment that may impose an offset under this Section 10(f). 

  

	 	10(g)	Change in Control. 

  

	 	(g)(i)	Qualifying CIC Termination: If, during the CIC Provisions Effective Period, the Officer is terminated under conditions constituting a Qualifying CIC Termination, the Company shall:

  

	 	(i)(A)	pay or provide to the Officer, as the case may be, the Accrued Obligations; 

  

 12 

	 	(i)(B)	pay to the Officer a lump sum amount equal to two (2) multiplied by the sum of the following: (1) an amount equal to the Officer’s Base Salary at the rate in effect
immediately prior to such Qualifying CIC Termination or, if higher, as in effect immediately prior to the Change in Control, (2) an amount equal to the annual bonus paid or payable for the prior fiscal year under the Executive Bonus plan, and
(3) an amount equal to the Value of all equity awards granted in the prior calendar year. The “Value” of an equity award shall be determined as follows: (i) all equity awards granted in the prior calendar year shall be considered
to have been fully vested on the date of grant and to be outstanding on the last day of such prior calendar year, (ii) the “Value” of stock options granted in such prior calendar year shall be the difference between the applicable
exercise price and the fair market value, as of the last day of such prior calendar year, of the stock subject to such awards, (iii) the “Value” of restricted stock, if any, granted in such prior calendar year shall be the fair market
value of the stock as of the last day of such prior calendar year, calculated without regard to any restrictions imposed thereon, (iv) the “Value” of restricted stock units, if any, granted in such prior calendar year shall be fair
market value, as of the last day of such prior calendar year, of the stock subject to such restricted stock units, and (v) the “Value” of any other equity-based awards granted to the Officer shall be determined in a manner consistent
with the foregoing, based on the fair market value of the underlying stock as of the last day of such prior calendar year. 

  

	 	(i)(C)	 If the Officer is, on the Date of Termination, covered by a group health plan as defined in Section 4980B of the Code, and the Company would be required to
provide continued health care 

  

 13 

	 	 
coverage pursuant to Section 4980B of the Code for the Officer, and, where applicable, the Officer’s spouse and dependents, then the Company shall
provide for the direct payment to the carrier for the premium costs for such continued health care coverage for the Officer, and, where applicable, the Officer’s spouse and dependents, under the Company’s group medical benefit plan, for
eighteen (18) months following the Qualifying CIC Termination. 

  

	 	(i)(D)	Notwithstanding anything in this Agreement to the contrary, if the Officer is eligible for any payment under Section 10(e) of this Agreement as well as under this
Section 10(g)(i), then the Officer shall be paid only amounts under this Section 10(g)(i) and any potential payments under Section 10(e) shall be disregarded. 

  

	 	(g)(ii)	Vesting Upon a Change in Control: Immediately upon a Change in Control, any equity awards subject to vesting that have been granted to the Officer under the Company’s equity
incentive plans and that are not fully vested shall become fully vested and, in the case of stock options, shall become immediately exercisable, and the Officer shall be entitled, in the case of such stock options, to exercise such stock options
until the earlier of the expiration of their original full term or one year from the Date of Termination (in each case, without regard to any earlier termination otherwise applicable in the event of termination of employment, and to the extent
permitted by Section 409A of the Code). 

  

	 	(g)(iii)	“Change in Control” shall mean: 

  

	 	(iii)(A)	 the acquisition, directly or indirectly, by any “person” or “group” (as those terms are defined in Sections 3(a)(9), 13(d), and 14(d) of the
Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of directors (“voting securities”) of the
Company 

  

 14 

	 	 
that represent 40% or more of the combined voting power of the Company’s then outstanding voting securities, other than (A) an acquisition by a
trustee or other fiduciary holding securities under any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any person controlled by the Company, or (B) an acquisition of voting securities by the Company or a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same
proportions as their ownership of the stock of the Company, or (C) an acquisition of voting securities pursuant to a transaction described in clause (iii) below that would not be a Change in Control under clause (iii); provided,
however, that neither of the following events shall constitute an “acquisition” by any person or group for purposes of this clause (i): (x) a change in the voting power of the Company’s voting securities based on the
relative trading values of the Company’s then outstanding securities as determined pursuant to the Company’s Certificate of Incorporation, or (y) an acquisition of the Company’s securities by the Company which, either alone or in
combination only with the other event, causes the Company’s voting securities beneficially owned by a person or group to represent 40% or more of the combined voting power of the Company’s then outstanding voting securities; provided,
further, however, that if a person or group shall become the beneficial owner of 40% or more of the combined voting power of the Company’s then outstanding voting securities by reason of share acquisitions by the Company as described above and
shall, after such share acquisitions by the Company, become the beneficial owner of any additional voting securities of the Company, then such ownership of additional voting securities shall constitute a Change in Control;

  

 15 

	 	(iii)(B)	individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; 

  

	 	(iii)(C)	 the consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a
merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each case, other
than a transaction (A) which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or
the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company
or such person, the “Successor Entity”)) directly or indirectly, at least 40% of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and (B) after which more than
40% of the members of the board of directors of the Successor Entity were 

  

 16 

	 	 
members of the Incumbent Board at the time of the Board’s approval of the agreement providing for the transaction or other action of the Board approving
the transaction, and (C) after which no person or group beneficially owns voting securities representing 40% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated
for purposes of this clause (C) as beneficially owning 40% or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company and the other entity prior to the consummation of the transaction; or

  

	 	(iii)(D)	a liquidation or dissolution of the Company. 

 For purposes of clause (A) of this definition of Change in Control, the calculation of voting power shall be made as if the date of the acquisition were a record date for a vote of the Company’s shareholders, and for purposes of
clause (C) of this definition of Change in Control, the calculation of voting power shall be made as if the date of the consummation of the transaction were a record date for a vote of the Company’s shareholders. 
  

	 	(g)(iv)	“CIC Period” means the period beginning on the date an event that constitutes a Change in Control occurs and ending on the first anniversary of such date.

  

	 	(g)(v)	“Qualifying CIC Termination” shall mean: 

  

	 	(v)(A)	during the CIC Period, the termination of the Officer’s employment by the Company without Cause or the termination of the Officer’s employment by the Officer for a CIC
Good Reason; or 

  

	 	(v)(B)	 the occurrence of the following: (1) prior to a Change in Control, the termination of the Officer’s employment by the Company without Cause or the
termination of the Officer’s 

  

 17 

	 	 
employment by the Officer for a CIC Good Reason, (2) the Officer reasonably demonstrates that such termination (or CIC Good Reason event) was the result
of a third party who had indicated an intention or taken steps reasonably calculated to effect a Change in Control, and (3) a Change in Control involving such third party (or a party competing with such third party to effectuate a Change in
Control) occurs within six (6) months from the date of such termination. 

  

	 	(g)(vi)	CIC Release. Notwithstanding any provision of this Agreement to the contrary, the Company’s obligations, including but not limited, to all payments and benefits pursuant to
this Section 10(g), shall be conditioned upon the Officer’s execution and the irrevocability of a release in substantially the form attached hereto as Exhibit A (the “CIC Release”). All cash payments pursuant to this
Section 10(g) will be paid on the following date: (i) where, for the applicable termination, the Company determines that the release of ADEA claims is subject to a twenty-one (21) day notice period, the thirty- fifth (35th) day
following the Date of Termination, provided that the CIC Release becomes irrevocable by such thirty-fifth (35th) day, or (ii) where, for the applicable termination, the Company determines that the release of ADEA claims is subject to a
forty-five (45) day notice period, the sixty-fifth (65th) day following the Date of Termination, provided that the CIC Release becomes irrevocable by such sixty-fifth (65th) day. The Company shall provide the CIC Release to the
Officer within five days of the Officer’s Date of Termination. 

  

	 	(g)(vii)	 “CIC Good Reason” shall mean the continued failure of the Company to cure within thirty (30) days after written notice describing the nature of such
continued failure has been given to the Company by the Officer within ninety (90) days of the occurrence of any of the following: (i) the Company’s failure to perform or observe any of the material terms or provisions of this
Agreement; (ii) a material reduction in the scope of the Officer’s responsibilities and duties for the Company or the Subsidiary; (iii) the relocation of Officer’s employment to a facility or a 

  

 18 

	 	 
location more than thirty (30) miles from Officer’s then present location and more than thirty (30) miles from the Officer’s then present
residence, without the Officer’s consent; or (iv) a material reduction in the Officer’s Base Salary including, without limitation, any material reduction that is made pursuant to the last paragraph of Section 5(a).

  

	 	 (g)(viii)
	 Except as otherwise provided in this Section 10(g) and notwithstanding any provision of the Agreement to the
contrary, this Section 10(g) and Section 22 shall be effective for the period commencing as of the Effective Date and ending on the fifth (5th) anniversary of the Effective Date (such period, the “CIC Provisions Effective Period”); provided, however, that in each calendar year following 2008, the CIC Provisions Effective Period shall be automatically extended for
an additional full year. This Section 10(g) and Section 22 shall terminate and be of no further force or effect prior to the expiration of the CIC Provisions Effective Period upon a termination of the Officer’s employment with the
Company and the Subsidiary if such termination does not constitute a Qualifying CIC Termination. If the Officer’s termination of employment with the Company and the Subsidiary constitutes a Qualifying CIC Termination, this Section 10(g)
and Section 22 shall remain effective until full payment of any and all amounts under Section 10(g)(i) and Section 22, and full provision of any and all benefits under Section 10(g)(i), has been made.

  

	11.	Notices.  

 All notices, demands, requests or
other communications required or permitted to be given or made hereunder shall be in writing and shall be delivered, telecopied or mailed by first class registered or certified mail, postage prepaid, addressed as follows: 
  

	 	11(a)	If to the Company: 

 Central European Distribution
Corporation 
 ul. Bobrowiecka 6 
 00-728 Warsaw, Poland 

			
	Telecopier:	 	48 22 488 34 10
	Attention:	 	James Archbold
		 	Vice President, Secretary and Director of Investor Relations or

  

 19 

			
	 	 	William V. Carey
		 	President
		 	Bokserska 66A
		 	02-690 Warsaw (Poland)

  

	 	11(b)	If to the Officer: 

 William V. Carey 
 1602 Cottagewood Drive 
 Brandon, Florida
33511 
 Telephone: 813-685-1561 
 Or to such other address as may be designated by either party in a notice to the other. Each notice, demand, request or other communication that shall be given or made in the manner described above shall be deemed sufficiently given or made
for all purposes at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, the answer back or the affidavit of messenger being deemed conclusive evidence of such delivery) or at such time as delivery is refused
by the addressee upon presentation. 
  

	12.	Severability. 

 The invalidity or
unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in fulI force and effect. 
  

	13.	Survival. 

 It is the express intention and
agreement of the parties hereto that the provisions of Sections 7 and 8 hereof shall survive the termination of employment of the Officer. In addition, all obligations of the Company to make payments hereunder shall survive any termination of this
Agreement on the terms and conditions set forth herein. 
  

	14.	Assignment. 

 The rights and obligations of
the parties to this Agreement shall not be assignable, except that the rights and obligations of the Company hereunder shall be assignable in connection with any subsequent merger, consolidation, sale of all substantially all of the assets of the
Company or similar reorganization of a successor corporation. The Company 

  

 20 

 
shall be obligated, upon a Change in Control, to assign all obligations and rights under this Agreement to any successor in interest to the Company and to
have such successor in interest assume such obligations and rights. 
  

	15.	Binding Effect. 

 Subject to any
provisions hereof restricting assignment, this Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal representatives, successors and
assigns. 
  

	16.	Amendment Waiver. 

 This Agreement shall not
be amended, altered or modified except by an instrument in writing duly executed by the parties hereto. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure of
either of the parties, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature,
or as a waiver of any such provisions, rights or privileges hereunder. 
  

	17.	Headings. 

 Section and subsection headings
contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions
hereof. Any reference herein to a “Reserved” provision shall not have any meaning for purposes of interpreting the terms or provisions of this Agreement. 
  

	18.	Governing Law. 

 This Agreement, the rights
and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Delaware (but not including the choice of law rules thereof). 
  

 21 

	19.	Action of Behalf of the Subsidiary. 

 The
Company is executing this Agreement also on behalf of its Subsidiary and agrees to cause the Subsidiary to fulfill its obligations hereunder, through the appointment and removal, if necessary, of members of the management board of the Subsidiary.

  

	20.	Entire Agreement. 

 This Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof, and it supersedes all prior oral or written agreements, commitments or understandings with respect to the matters provided for herein. 

 

	21.	Counterparts. 

 This Agreement may be
executed in two or more counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument. 
  

	22.	Parachute Tax Indemnity. 

  

	 	22(a)	If it shall be determined that any amount, right or benefit paid, distributed or treated as paid or distributed by the Company or any of its affiliates to or for the Officer’s
benefit (whether paid or payable or distributed or distributable hereunder or otherwise, including, without limitation, in connection with a Change in Control (as defined in Section 10(g) hereof), but determined without regard to any additional
payments required under this Section 22 (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by the Officer with respect to such excise tax (such excise
tax, together with any such interest and penalties, collectively, the “Excise Tax”), then the Officer shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the Officer
of all federal, state and local taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon
the Gross-Up Payment, the Officer retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. 

  

	 	22(b)	 All determinations required to be made under this Section 22, including whether and when a Gross-Up Payment is required, the amount of such Gross-Up 

  

 22 

	 	 
Payment and the assumptions to be utilized in arriving at such determination, shall be made by a nationally recognized accounting firm in the United States
as shall be designated jointly by the Officer and the Company (the “Accounting Firm”), which shall be permitted to designate an independent counsel to advise it for this purpose. The Accounting Firm shall provide detailed supporting
calculations both to the Company and the Officer within 15 business days of the receipt of notice from the Officer or the Company that there has been a Payment, or such earlier time as is requested by the Company. All fees and expenses of the
Accounting Firm and its legal counsel shall be paid by the Company. Any Gross-Up Payment, as determined pursuant to this Section 22, shall be paid by the Company to the Officer (or to the U.S. Internal Revenue Service (the “IRS”) on
the Officer’s behalf) within five days of the receipt of the Accounting Firm’s determination. All determinations made by the Accounting Firm shall be binding upon the Company and the Officer. As a result of the uncertainty regarding
Section 4999 of the Code hereunder, it is possible that the IRS may assert that an Excise Tax is due that was not included in the Accounting Firm’s calculation of the Gross-Up Payments (an “Underpayment”). In the event that the
Company exhausts its remedies pursuant to this Section 22 and the Officer thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any additional
Gross-Up Payments that are due as a result thereof shall be promptly paid by the Company to the Officer (or to the IRS on Officer’s behalf). 

  

	 	22(c)	 The Officer shall notify the Company in writing of any claim by the IRS that, if successful, would require the payment by the Company of the Gross-Up Payment. Such
notification shall be given as soon as practicable but no later than ten (10) business days after the Officer receives written notification of such claim and shall apprise the Company of the nature of such claim and the date on which such claim
is requested to be paid. The Officer shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which it gives such notice to the Company (or such shorter period ending on the date that any payment of
taxes with respect to such claim is due). If the Company notifies the Officer in writing prior to the expiration of such 

  

 23 

	 	 
period that it desires to contest such claim, the Officer shall: (i) give the Company all information reasonably requested by the Company relating to
such claim; (ii) take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an
attorney selected by the Company and reasonably acceptable to the Officer and ceasing all efforts to contest such claim; (iii) cooperate with the Company in good faith in order to effectively contest such claim; and (iv) permit the Company
to participate in any proceeding relating to such claim; provided, however, that the Company shall bear and pay directly all reasonable costs and expenses (including additional interest and penalties) incurred in connection with such contest and
shall indemnify and hold the Officer harmless, on an after-tax basis, from any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs and expense. Without
limiting the foregoing provisions of this Section 22, the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forego any and all administrative appeals, proceedings, hearings and
conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Officer to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Officer agrees to prosecute
such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine and direct; provided, however, that if the Company directs the Officer to pay
such claim and sue for a refund, the Company shall advance the amount of such payment to the Officer, on an interest-free basis, and shall indemnify and hold the Officer harmless, on an after-tax basis, from any Excise Tax or income tax (including
interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and further provided that any extension of the statute of limitations relating to payment of taxes
for the Officer’s taxable year with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which
a Gross-Up Payment 

  

 24 

	 	 
would be payable hereunder and the Officer shall be entitled to settle or contest, as the case may be, any other issue raised by the IRS or any other taxing
authority. 

  

	 	22(d)	If, after the Officer’s receipt of an amount advanced by the Company pursuant to this Section 22, the Officer becomes entitled to receive any refund with respect to such
claim, the Officer shall promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the Officer’s receipt of an amount advanced by the Company pursuant
to this Section 22, a determination is made that the Officer shall not be entitled to any refund with respect to such claim and the Company does not notify the Officer in writing of its intent to contest such denial of refund prior to the
expiration of thirty (30) days after the Company’s receipt of notice of such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the
amount of Gross-Up Payment required to be paid. 

  

	 	22(e)	Notwithstanding the foregoing provisions of this Section 22, for purposes of satisfying U.S. Treasury Regulation Section 1.409A-3(i)(1)(v), any Gross-Up Payments shall be
paid to the Officer no later than the end of the calendar year next following the calendar year in which the Officer remits the Excise Tax (or applicable portion thereof) to the IRS. 

  

	 	22(f)	The provisions of this Section 22 shall survive the expiration of the Term of this Agreement. 

  

	23.	Section 409A. 

 It is intended that this
Agreement will comply with Section 409A of the Code, to the extent the Agreement is subject thereto, and the Agreement shall be interpreted on a basis consistent with such intent. If an amendment of the Agreement is necessary in order for it to
comply with Section 409A of the Code, the parties hereto will negotiate in good faith to amend the Agreement in a manner that preserves the original intent of the parties to the extent reasonably possible. Notwithstanding any provision to the
contrary in this Agreement, and except as otherwise provided in this Agreement, if a payment or benefit is to be paid upon the 

  

 25 

 
Officer’s Date of Termination or termination, then such payment shall be delayed until the Officer has experienced a “separation from service”
(as such term is defined under Section 409A of the Code); provided, however, that if a payment or benefit is considered to be a deferral of compensation subject to Section 409A of the Code and the Officer is deemed to be a “specified
employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code, then with regard to any payment or the provisions of any benefit that is required to be delayed pursuant to Section 409A(a)(2)(B) of the Code, such
payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of the Officer’s “separation from service” (as such term is defined in U.S. Treasury
Regulations issued under Section 409A of the Code), or (ii) the date of the Officer’s death (the “Delay Period”). As soon as practicable following the expiration of the Delay Period, all payments and benefits delayed
pursuant to this Section 23 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Officer in a lump sum, and any remaining payments and benefits due
under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Notwithstanding the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to the
Officer that would not be required to be delayed if the premiums therefore were paid by the Officer, the Officer shall pay the full costs of premiums for such welfare benefits during the Delay Period and the Company shall pay the Officer an amount
equal to the amount of such premiums paid by the Officer during the Delay Period within thirty (30) days after the conclusion of such Delay Period. 
 IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have caused this Agreement to be duly executed on their behalf, as of the day and year first hereinabove written. 
  

			
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION
		
	 By:
	 	
	
	 /s/ Christopher Biedermann

	Name:	 	Christopher Biedermann
	Title:	 	Chief Financial Officer

  

 26 

			
	 /s/ William V. Carey

	Name:	 	William V. Carey
	Title:	 	The Officer

  

 27 

 EXHIBIT A 
 TO THE 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 BETWEEN 
 CENTRAL EUROPEAN
DISTRIBUTION CORPORATION, INC. 
 AND 
 WILLIAM CAREY 
 GENERAL RELEASE AND
WAIVER AGREEMENT1 
 This
General Release and Waiver Agreement (the “Agreement”) is made as of                     ,      by
and between William Carey (the “Officer”) and Central European Distribution Corporation, Inc., a Delaware corporation (together with all of its subsidiaries and affiliated entities, collectively hereinafter referred to as
“Company”). 
 I. TERMINATION OF EMPLOYMENT 
 The parties acknowledge that the Officer terminated his employment with the Company effective [list date] and that such termination constituted a Qualifying CIC Termination as defined in
Section 10(g)(v) of the Amended and Restated Employment Agreement between Central European Distribution Corporation, Inc. and the Officer, dated as of June 11, 2008 (the “Employment Agreement”). 
 II. CONSIDERATION 
 As consideration for
Officer’s entering into and abiding by this Agreement, (i) the Company will pay and provide to the Officer the amounts and benefits specified in Section 10(g)(i) and (ii) of the Employment Agreement and, if applicable,
Section 22 of the Employment Agreement (all such amounts and benefits in Employment Agreement Section 10(g)(i) and (ii) and Section 22, the “Aggregate Severance Payments”). The parties agree that the Aggregate Severance
Payments are in excess of any payments or benefits to which Officer may otherwise be entitled from the Company and its subsidiaries and affiliated entities. 
 III. COMPLETE RELEASE 
 Officer, for Officer and Officer’s predecessors, successors, assigns, and heirs, hereby
discharges and releases Company and, as applicable, each of the Company’s predecessors, representatives, the Company’s present or former officers, directors, employees, stockholders, affiliates, insurers, successors and assigns, from all
claims or demands Officer may have based on Officer’s employment with Company or the termination of that employment. This includes a release of any rights or claims Officer may have based on any facts or events, whether known or unknown by the
Officer that occurred on or before the effective date of this Agreement or events that are contemplated by this Agreement, including, without limitation, a release of any rights or claims Officer may have based on (i) the following United
States laws: the Civil Rights Acts of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended; the Americans with Disabilities Act of 1990; the Rehabilitation Act of 1973; the Equal Pay Act of 1963; or the Employee Retirement
Income Security Act of 
  

	 1
	 Provisions of Agreement should be modified to comply with legal requirements and customs under non-U.S. law.

  

 28 

 
1974, as amended; (ii) applicable laws of the states of the United States concerning wages, employment and discharge; (iii) claims arising out of
any legal restrictions of the right to terminate Officer such as wrongful or unlawful discharge or related causes of action; (iv) intentional infliction of emotional distress or any other tortious conduct; and/or (v) violations of any
contract or promise express or implied. No reference to the aforementioned causes of action or claims is intended to limit the scope of this Agreement. Notwithstanding the foregoing, the Officer does not hereby release any rights or claims with
respect to the period following the effective date of this Agreement. 
 IV. PERIOD FOR REVIEW AND CONSIDERATION OF AGREEMENT 
 Officer confirms that Officer is over the age of 40 and has been given twenty-one (21) days [or forty-five (45) days if applicable under ADEA] to review and
consider this Agreement before signing it. 
 [If forty-five (45) day period applies, additional information will be attached as required by ADEA.]

 V. ENCOURAGEMENT TO CONSULT WITH AN ATTORNEY 
 Officer
is encouraged, at Officer’s own expense, to consult with an attorney before signing this Agreement. 
 VI. OFFICER’S RIGHT TO REVOKE AGREEMENT

 If this Agreement is signed by Officer and returned to Company within the time specified in Section IV, Officer may revoke this Agreement within seven
(7) calendar days of the date of the Officer’s signature. Revocation can be made by delivering a written notice of revocation to the Company. For this revocation to be effective, written notice must be received no later than the close of
business on the seventh (7th) calendar day (or next business day thereafter) after the Officer signs this Agreement. If the Officer revokes this Agreement, it shall not be effective or enforceable and Officer will not receive the payments
described in Section II. Notices for the purposes of this paragraph shall be effective if delivered personally, or by certified mail to the following address (or such other address as Officer shall notify Company, or Company shall notify Officer (as
the case may be), in each case in writing): 
  

									
	Officer:	  	William Carey	  	 	  	Company:	  	Central European Distribution
Corporation, Inc.
					
	[Officer’s Address]	  		  		  	[Company’s Address]	  	
					
		  		  		  	Attention:	  	[Company Representative]

 X. SEVERABILITY AND JUDICIAL RESTATEMENT 
 Officer and Company agree that the provisions of this Agreement are severable and divisible. In the event any portion of this Agreement is determined to
be illegal or unenforceable, the remaining provisions of this Agreement shall remain in full force and effect. 
 XI. TAXES 
 Officer is responsible for any tax liability associated with payments provided under this Agreement, subject to Section 22 of the Employment
Agreement, if applicable. Company has the right to withhold taxes from such payments to the extent required by law. 
  

 29 

 XII. MISCELLANEOUS 
 This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws thereunder. 
 The captions of this Agreement are not part of the provisions hereof and shall not have any force or effect. 
 This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and
legal representatives. 
 Nothing contained in this Agreement is intended to be, or shall be construed to be, an admission of any liability
by any party or an admission of the existence of any facts upon which liability could be based. 
 Officer acknowledges and represents that
Officer has voluntarily executed this Agreement. 
 This Agreement shall not be assignable, except that in the event of the death of Officer
while amounts or benefits are still due hereunder, any remaining payments due as described in Section II hereof shall be paid to Officer’s estate. 
 XIII. EFFECTIVE DATE OF AGREEMENT 
 The effective date of this Agreement shall be seven (7) calendar days after the date
this Agreement is signed and dated by Officer. If the Agreement is not dated by Officer then, in that event, the effective date of this Agreement shall be seven (7) calendar days after receipt of the signed Agreement by Company. 
 PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS TO THE DATE OF THIS AGREEMENT INCLUDING THOSE PURSUANT TO THE AGE DISCRIMINATION
IN EMPLOYMENT ACT, AS AMENDED, AND OTHER LAWS PROHIBITING DISCRIMINATION IN EMPLOYMENT. 
 OFFICER ACKNOWLEDGES THAT OFFICER HAS READ THIS AGREEMENT,
UNDERSTANDS IT AND IS VOLUNTARILY ENTERING INTO IT. 
  

			
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION, INC.
		
	By:	 	 
		
	Date:	 	  

	
	  

	William Carey
		
	Date:	 	  

  

 30

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