Document:

Exhibit 4.7

 

FIRST AMENDMENT AND RESTATED AGREEMENT

DATED 12TH DECEMBER, 2005

 

STRATEGIC COOPERATION AGREEMENT

 

Between

 

Deutsche Telekom AG

Friedrich Ebert Allee

53227 Bonn

Germany

 

(“DTAG”)

represented by T-Com

 

and

 

Magyar Telekom Rt.,

1013 Budapest, Krisztina krt. 55.

Hungary

 

(“Magyar Telekom”)

 

together referred to as “Parties”

 

 

Preamble

 

1                                          Magyar Telekom
is a company organized under the laws of the Republic of Hungary as a joint
stock company that performs telecommunications services in fixed and on-line
segment. Magyar Telekom provides full scope of telecommunications services in
Hungary based on an integrated service approach.

 

2.                                       Magyar Telekom’s
majority owner is Deutsche Telekom (“DTAG”) via
MagyarCom Holding and therefore Magyar Telekom belongs to the Deutsche Telekom
group (“DTAG Group”). DTAG will exercise all of its rights under this Agreement
relating to the fixed line segment through its fixed line branch T-Com.

 

3.                                       As Magyar
Telekom wishes to benefit of T-Com’s expertise in fixed line communications
business, Magyar Telekom wants T-Com’s support in managing the fixed line
communications business in Hungary and leverage synergies for Magyar Telekom
and thus create benefits for shareholders of Magyar Telekom.

 

4.                                       In order to
realize this effectively DTAG represented by T-Com and Magyar Telekom want to
conclude this Strategic Cooperation Agreement

 

5.                                       The Parties
amended the original Strategic Cooperation Agreement dated 15th December, 2004 on 6th October, 2005
by including a new Section 4.1. g). According to this first amendment
agreement the restated text of the Strategic Cooperation Agreement shall
include the above specified amendment.

 

Therefore, the Parties
now agree,

 

§ 1 Assistance in managing the fixed line communications business within
Magyar Telekom

Group through strategic partnership with DTAG

 

1.                                       Magyar Telekom
and T-Com will arrange and coordinate their efforts to guarantee proper and
orderly cooperation in the herein stated areas of Magyar Telekom fixed line
business and any non-mobile business in both strategic and operational area
where synergy potential could be achieved by exploiting benefits from DTAG’s
knowledge and know-how and applying it to the fixed line telecommunications
business performed within Magyar Telekom Group.

 

2.                                       In order to
facilitate the implementation of the Strategic Cooperation Agreement the
Parties stated in paragraph 1 of this Article, Magyar Telekom and T-Com agree
that projects directly relating to T-Coms expertise in the fixed line
communications business or other areas and which fall within an area of
strategic or operational cooperation stated in this Strategic Cooperation
Agreement will be executed with expert assistance of T-Com in the appropriate
manner to be agreed between the Parties (e.g. holding bilateral meetings,
establishing steering committees, entering into bilateral agreements, etc.).

 

 

§ 2 Shareholder Rights

 

1                                          The cooperation
stated in this Strategic Cooperation Agreement or any other agreement that
shall be signed between the Parties shall not affect the formal decision
processes or instruction rights of the shareholders of Magyar Telekom as set
out in its by-laws (such as its Articles of Association, Board of Directors or
MC rules of procedures, if any, and the Internal operational Charter of
Magyar Telekom) or provided for in the Hungarian law.

 

2.                                       The cooperation
of the Parties provided for in this Strategic Cooperation Agreement shall not
affect the formal decision making processes/rights/ corporate governance
procedures, including instruction rights of Magyar Telekom in the various
subsidiaries.

 

§ 3 Principles of Cooperation

 

1.                                       The Parties
will organize their cooperation regarding fixed line and any non-mobile business
within Magyar Telekom Group according to the following principles:

 

a)                                      Magyar Telekom
performs directly to DTAG consolidated financial reporting in order to meet
DTAG standards and additionally in order to meet all Hungarian statutory and
tax requirements, IFRS, US GAAP and SOA standards.

 

In
addition, Magyar Telekom will provide segment reporting directly to T-Com
according to T-Com standards on a partial consolidation basis without Magyar
Telekom’s subsidiaries, T-Mobil Hungary Rt. and Mobimak, in order to include
Magyar Telekom into DT’s fixed line communications segment.

 

b)                                     The budget and
the long-term planning for Magyar Telekom’s fixed-line business are developed
by Magyar Telekom bottom-up, reconciled with T-Com and approved by Magyar
Telekom’s Board of Directors as part of the Magyar Telekom Group Business Plan.

 

c)                                      DTAG, as the
main shareholder of Magyar Telekom, will - pro rata to its stake in Magyar
Telekom - exercise its right to nominate and elect suitable board members (such
as Board of Directors, Supervisory Board) for Magyar Telekom and advise on their
remuneration). Further on, T-Com will nominate suitable candidates for
management positions and advisory positions considered as of strategic
importance in the fixed-line business (selection, remuneration, remuneration
policy, development & performance appraisal). Beyond that the targets,
remuneration policy and performance appraisal for the company and the
Management Committee (if any) members have to be reconciled with T-Com and
approved by Magyar Telekom’s Board of Directors.

 

 

§ 4 Service Arrangements

 

1.                                       In addition to
the acknowledged integrated business environment of Magyar Telekom T-Com will
allow Magyar Telekom to learn further international expertise in the fields of
fixed line telecommunication services as follows:

 

a)                                      T-Com will
provide strategic advice and guidelines in development of the domestic and
international strategy, the BSC/ Objectives and in Branding Issues.

 

b)                                     T-Com will
provide advice and guidelines on basic and fixed line related (i) IT
platforms and applications such as SAP and (ii) billing systems and (iii) processes.

 

c)                                      T-Com will
provide advice and guidance on (i) network strategy, (ii) platforms
and (iii) procurement.

 

d)                                     T-Com will
provide advice and guidelines on marketing and sales, such as product
development, innovations and distribution strategy.

 

e)                                      T-Com will
provide advice and guidance on various reporting schemes (such as segment-based
reporting, flash reports, controlling reports, accounting report etc.)
according to DTAG standards. Thereby T-Com will ensure harmonisation at
division level and provide advice and guidelines for (i) Mid Term
Planning, (ii) Budgeting and (iii) Treasury.

 

f)                                        DTAG will
provide advice and guidance an special human resources items, such as (i) DT
Group leadership tools, (ii) know how transfer.

 

g)                                     T-Com will
provide strategic advice and guidelines in the implementation and regarding all
other issues with respect to the Sarbanes Oxley Act and its requirements for
both Parties.

 

2.                                       The terms and
conditions, and the form of co-operation on the above fields shall be further defined
as needed between the Parties (e.g. holding bilateral meetings, establishing
steering committees, entering into bilateral agreements, etc.).

 

§ 5 Duration

 

1.                                       This Strategic
Cooperation Agreement shall come into force on January 1, 2005 and
initially run until December 31, 2005. Thereafter it will automatically be
extended by one year at a time unless terminated with three months’ advance
notice, to become effective at the end of a calendar year.

 

2.                                       The right of
each contracting party to terminate the Strategic Cooperation Agreement for
good cause shall remain unaffected thereby.

 

 

3.                                       The Parties are
required to return any and all documents and materials relating to the shareholding
concerned, and all copies of such materials, upon termination of the Strategic
Cooperation Agreement.

 

§ 6 Confidentiality

 

The
Parties will keep secret any and all confidential knowledge and materials
acquired while performing its responsibilities, subject to any statutory
disclosure and information requirements.

 

§ 7 Final provisions

 

1.                                       This Strategic
Cooperation Agreement shall be governed by and construed in accordance with the
laws of the Republic of Hungary. All disputes arising out of or in connection
with the present contract shall be finally settled under the Rules of
Arbitration of the International Chamber of Commerce by one or more arbitrators
appointed in accordance with the said Rules. Venue of the Arbitration shall be
Vienna.

 

2.                                       Any changes and
amendments to this Strategic Cooperation Agreement must be made in writing in
order to be valid. The same applies for the waiver of the written-form
requirement.

 

3.                                       Should
individual provisions of this Strategic Cooperation Agreement be or become
invalid or unenforceable, or should the Strategic Cooperation Agreement contain
an omission, this shall not affect the validity of the remaining provisions. In
the place of the invalid provision, such provision shall be deemed to have been
agreed as corresponds to the purpose of the invalid or unenforceable provision.
In the event of omissions, such provision shall be deemed to have been agreed
on which corresponds to what would reasonably have been considered from the
outset in accordance with the intention and purpose of this Strategic Cooperation
Agreement. In the event of any discrepancy between the terms of this Strategic
Cooperation Agreement and Hungarian legislation or the by-laws of Magyar
Telekom the Hungarian laws or by-laws of Magyar Telekom shall prevail.

 

4.                                       The Parties
agree that they will only act and exercise any of its rights and powers under
this Strategic Cooperation Agreement if such an action or exercise serves the
best business interest of Magyar Telekom or adds value to its business results
or operating environment.

 

 

The
original Strategic Cooperation Agreement signed in Budapest, on 15th of December, 2004 is thereby restated with the
first amendment on 12th October, 2005.

 

 

	
  on behalf of

  	
   

  	
  on behalf of

  
	
  Deutsche Telekom AG (T-Com):

  	
   

  	
  Magyar Telekom Rt.:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Dr. Ralph Rentschler

  	
   

  	
  Elek Straub

  
	
  Member of the

  	
   

  	
  Chief Executive Officer and

  
	
  Board of Management T-Com

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Horst Hermann

  	
   

  	
  Dr. Klaus Hartmann

  
	
  Senior Executive Vice President

  	
   

  	
  Member of the BoardExhibit 4.8

 

FRAMEWORK COOPERATION AND SERVICE AGREEMENT

[Outbound/Allocation]

 

between

 

T- Mobile International AG,

Landgrabenweg 151, 53227 Bonn, Germany

(hereinafter, “TMO” or „Service Provider”)

 

and

 

Magyar Telekom Távközlési Nyilvánosan Müködo Részvénytársasâg,

Krisztina krt. 55, 1013 Budapest, Hungary

(hereinafter, “Service Receiver”)

 

(hereinafter jointly referred to as the “Parties”)

 

Concerning the Performance of Services provided by TMO

 

RECITALS:

 

WHEREAS,
the participating Service Receiver and TMO are companies of the Deutsche
Telekom group, and regarding its activities in the mobile communication
consolidated in the mobile segment of TMO;

 

WHEREAS,
the Parties are engaged in the development and provision of services in the
telecommunication industry;

 

WHEREAS,
TMO has specific capacities and qualifications at its disposal and undertakes
to procure such capacities and qualifications to render services to Service
Receiver;

 

WHEREAS,
Service Receiver has a steady need for and requests these Services;

 

WHEREAS,
the Parties derive primarily the following benefits from TMO Services: i)
synergy effects through the harmonisation of business processes and/or ii)
quality services that enable the Parties to retain existing customers, as well
as to increase the existing customer base and/or iii) other synergies. The
aforementioned synergies lead to cost savings through economies of scale,
avoidance of redundant works, adoption of common tools and standards and
agreeing on best practice procedures among the Service Receivers

 

WHEREAS,
TMO agrees to provide Services to Service Receiver;

 

WHEREAS,
the Services to be rendered and the respective Compensation are to be detailed
in separate attachment (Annex);

 

WHEREAS,
this Agreement is to stipulate the framework conditions for the performance of
the Services and the Compensation hereof;

 

NOW,
THEREFORE, the Parties hereby agree as follows:

 

 

§ 1

Definitions

 

Agreement                                                                                                — means this
framework cooperation agreement including the Annex. The Annex shall give an
overview on the projects from which the Service Receiver benefited in the
previous year. The Annex shall be renewed according to § 2(2).

 

Cost Allocation Key                                              — means the key
according to which the Full Costs and mark-up of TMO are allocated to the
Service Receiver, being an affiliate of Deutsche Telekom AG. The Service
Receiver shall bear these costs according to its participation and benefit from
projects conducted by the Service Provider. This key may differ from service to
service and from year to year.

 

Full Costs                                                                                                     — means Own
Costs and Third Party Costs occurring with the service performance. The Full
Costs are established on TMO group accounting principles.

 

Own Costs                                                                                                — means direct
and indirect costs occurring with the own service provision, but do not include
any fees to third parties involved. Own costs include also direct and indirect
costs in connection with the coordination and managing of third party services.

 

Third Party Costs                                                             — means fees
charged by third parties, as well as other miscellaneous costs being necessary
to the service provision under this agreement.

 

Compensation                                                                              — means the
compensation of Services at Full Cost basis and mark-up as agreed upon in the
Annex.

 

Service(s)                                                                                                      — means the
service(s) to be provisioned and delivered by TMO as outlined in detail in
the annex, (“Annex”).

 

§ 2

Services

 

(1)       TMO shall render to the Service Receiver such
Services related to projects as set out in the Annex. These Services shall be
enumerated in a project list of projects being conducted by the Service provider
for each respective financial year. The Annex may be modified in order to
reflect the current service scope and related conditions.

 

 

(2)       The Annex shall be agreed upon by the Parties for
the previous financial year. It shall be renewed every year, if the Agreement
is not terminated in accordance with § 12 (3). The necessary renegotiations
shall start January 31st and be concluded by end of
February. If the Annex has not been renewed by end of February, the existing
Annex will stay in force, unless the Service has been terminated by either
Party in accordance with §12 (3).

 

(3)       In case of any discrepancies between the Annex and
this Agreement the latter shall prevail unless and to the extent the Parties
explicitly state in the Annex that they want to deviate from this Agreement.

 

§3

Performance of Services

 

(1)       English shall be the working language.

 

(2)       TMO shall render the Services with due care and
skill. Specific requirements of the Services to be rendered can be agreed upon
in the Annex.

 

(3)       TMO may commission subcontractors for the provision
of the Services.

 

§4

Warranty

 

TMO
shall warrant that the execution of the Services shall be conducted with with
due care and skill.

 

§5

Liability

 

(1)       TMO shall be liable for damage caused intentionally
or due to gross negligence on its part. For its negligence, TMO shall only be
liable up to the amount of the annual Compensation, received for the respective
Services by the Service Receiver under the relevant Annex.

 

(2)       Any liability for loss of profit, business, goodwill
or any indirect or consequential losses shall hereby be excluded by the
Parties.

 

§6

Industrial Property Rights and Copyrights used in the Service
Performance

 

(1)       No stipulation of this Agreement shall state or be
interpreted in a way that the intellectual property rights of one Party shall
be transferred to the other Party.

 

(2)       Where necessary in connection to the Service
provision the Service Receiver shall be granted a

 

 

non
exclusive right to usage.

 

§ 7

Confidentiality

 

(1)       The Parties and any commissioned third parties shall
maintain strict secrecy concerning all confidential information made available
in the course of the performance of the Services. This shall relate to all
technical, financial or other information of which the Parties or any
commissioned third parties become aware of within the framework of the
execution of this Agreement, irrespective of whether the information is
declared as confidential. The obligation to maintain confidentiality shall
endure for a period of five years after the cessation of the Services.

 

(2)       Exempt hereof shall be information which was already
known to the general public when the information was made available or which
was disclosed by a third party without any infringement of any duty to maintain
secrecy or which had to be disclosed as a result of regulatory obligations to
provide information.

 

§8

Books, records and documentation

 

(1)       Within the scope of this Agreement, TMO is obliged
to record and document provision of Services and in particular the respective
projects in due form and ensure that such records and documents are retained
for the period set out in Section 8(3) below. If the Hungarian tax
authorities request the Service Receiver to present documents in relation to
the Services which are retained at TMO, upon written request of the Service
Receiver TMO is obliged to provide the Service Receiver with a copy of the
requested documents within due course.

 

(2)       For controlling reasons, the Service Receiver is
authorized to an audit of TMO’s service fee records and documentation performed
by an external auditor/ auditing company for their own account.

 

(3)       For the retention of the above mentioned records a
10 year period shall apply.

 

§9

Compensation

 

The
Service Receiver shall pay TMO the Compensation being such proportion of Full
Costs plus mark-up on Own Costs with a wealth adjustment according to the OECD rules as
determined by the Cost Allocation Keys, which shall be calculated on the basis
of the Service Receivers’ participation in the projects as set out in the
Annex. It will be calculated on the basis of the number of subscribers or in
the event of technical support on the basis of minutes of usage in the relevant
financial year. The mark-up on Own Costs will be 5%.

 

Any
third party service will be charged at cost basis without a mark-up from TMO.

 

§10

 

 

Taxes

 

(1)       All prices do not include value added taxes or
similar taxes. TMO will charge due taxes, if any, in addition to the net
Compensation. TMO shall charge and invoice accruing value added taxes or
similar taxes in accordance with the respective tax law.

 

(2)       If tax liability is shifted to the Service Receiver
by application of a reverse charge mechanism, TMO shall not charge any of the
taxes referred to above.

 

(3)       Possible withholding taxes have to be withheld by
the Service Receiver on behalf of the TMO and the corresponding proof or
documentary evidence are to be submitted.

 

(4)       The Parties of this Agreement declare to make any
reasonable effort to receive any refunds or abatements on taxes and other
duties and support each other for this purpose.

 

§ 11

Invoicing

 

(1)       TMO will charge the applicable Compensation on a
yearly basis after finalisation of the Annex according to § 2 (2) until March 31st of the subsequent year.

 

(2)       Prior to the yearly invoice the Service Receiver
will remit by quarterly advance payment in each case on the basis of the
previous financial year. The advance payments will be set off against the
yearly invoice of the respective year. Advance payments in 2008 will be
calculated on the basis of the yearly invoice of 2007.

 

(3)       As a matter of principle all invoices in the group
are settled through intercompany accounts. TMO treasury decides on the
balancing of these intercompany accounts.

 

§ 12

Deadlines/Termination

 

(1)       This Agreement shall be legally valid as of the
signing hereof and is thereby concluded for an indefinite period of time unless
and until terminated in accordance with this Agreement.

 

(2)       The Annex shall become effective retrospectively for
the financial year before conclusion of the agreement on the Annex if not
agreed otherwise between the Parties.

 

(3)       This Agreement and/or any Annex may be terminated by
any Party without specifying any grounds upon observance of six months written
notice such termination to take effect at the end of any year.

 

(4)       In the event of termination of the Agreement, the
Annex terminates automatically. The Services rendered up to such point are to
be compensated as long as the Service Receiver is not entitled to reduce this
compensation due to this Agreement or to the applicable law.

 

 

§ 13

Miscellaneous Provisions

 

(1)       Any modifications of this Agreement must be made in
writing by both Parties. No verbal collateral agreements hereto have been made.

 

(2)       In the event any individual provisions of this
Agreement are or become invalid, such provisions are to be reinterpreted or
supplemented so that the economic purpose associated with the affected
provision is preserved. The validity of the remaining provisions shall not be
affected thereby.

 

(3)       The Parties shall attempt to resolve all disputes
arising in course of the execution of this Agreement by amicable negotiations,
in the case that no resolution is found, the dispute shall be resolved by
escalation to the CEOs of the Parties who shall have 4 weeks to agree on a
mutually agreed solution. In case no agreement can be reached, the dispute
should be resolved by the local court of Bonn.

 

(4)       This Agreement shall be subject to German law.

 

Budapest, May 27, 2008

 

Signatures:

 

	
  T-Mobile International AG

  	
  

  
	
   

  	
   

  
	
  

  	
   

  	
  

  
	
  Michael Günther

  	
  Christopher Mattheisen

  
	
  Member of the Board of Management

  	
  Chief Executive Officer

  
	
  TMO and Senior Vice President CEE

  	
   

  
	
   

  	
   

  
	
  Deutsche Telekom AG

  	
   

  
	
   

  	
   

  
	
  

  	
   

  	
  

  
	
  Fridbert Gerlach

  	
  János Winkler

  
	
  Senior Vice President TMO

  	
  Chief Operating Officer,

  
	
   

  	
  Head of Consumer Services

  
	
   

  	
  Business Unit

  
				

 

 

ANNEX

 

Involved
TMO Projects

 

	
  TMO
  Department involved

  	
  Project
  No.

  	
  Short
  description:

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