Document:

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                                                                   EXHIBIT 10(x)
                              MANAGEMENT AGREEMENT

         This Management Agreement (this "Agreement") is entered into as of
February 15, 2000 between Buffets, Inc., a Minnesota corporation (the
"Company"), and David Goronkin (the "Executive").

                                    RECITALS

         A. The Executive is a key member of the management of the Company and
has devoted substantial skill and effort to the affairs of the Company.

         B. It is desirable and in the best interests of the Company and its
shareholders to continue to obtain the benefits of the Executive's services and
attention to the affairs of the Company.

         C. It is desirable and in the best interests of the Company and its
shareholders to provide inducement for the Executive to remain in the service of
the Company in the event of any proposed or anticipated change in control of the
Company and to remain in the service of the Company in order to facilitate an
orderly transition in the event of a change in control of the Company.

         D. It is desirable and in the best interests of the Company and its
shareholders that the Executive be in a position to make judgments and advise
the Company with respect to proposed changes in control of the Company without
regard to the possibility that the Executive's employment may be terminated
without compensation in the event of certain changes in control of the Company.

         E. The Executive desires to be protected in the event of certain
changes in control of the Company.

         F. For the reasons set forth above, the Company and the Executive
desire to enter into this Agreement.

                                    AGREEMENT

         Now, therefore, in consideration of the foregoing and the mutual
agreements contained herein, the Company and the Executive agree as follows:

         1. Employment. The Executive shall remain in the employ of the Company
for the Term of this Agreement, and during the Term the Executive shall have
such title, duties, responsibilities and authority, and receive such
remuneration and fringe benefits, as the Board of Directors of the Company shall
from time to time provide for the Executive; provided, however, that either the
Executive or the Company may terminate the employment of the

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Executive at any time before the expiration of the Term, with or without Cause,
upon at least 30 days' prior written notice to the other party, subject to the
right of the Executive to receive any payment and other benefits that may be due
under Section 3.

         2. Events. No amounts or benefits shall be payable or provided for
pursuant to this Agreement unless an Event shall have occurred during the Term
of this Agreement.

                  (a)      Each of the following shall be deemed an "Event" for
         purposes of this Agreement:

                           (1) Any "person" (as defined in Section 13(d) of the
                  Securities Exchange Act of 1934, as amended, or any successor
                  statute thereto (the "Exchange Act")) acquires or becomes a
                  "beneficial owner" (as defined in Rule 13d-3 or any successor
                  rule under the Exchange Act), directly or indirectly, of
                  securities of the Company representing 30% or more of the
                  combined voting power of the Company's then-outstanding
                  securities entitled to vote generally in the election of
                  directors ("Voting Securities") or 30% or more of the
                  then-outstanding shares of common stock of the Company
                  ("Common Stock"), provided, however, that the following shall
                  not constitute an Event pursuant to this Section 2(a)(1):

                                    (A) any   acquisition   or  beneficial
                           ownership  by  the  Company  or  a subsidiary of the
                           Company;

                                    (B) any acquisition or beneficial ownership
                           by any employee benefit plan (or related trust)
                           sponsored or maintained by the Company or one or more
                           of its subsidiaries;

                                    (C) any acquisition or beneficial ownership
                           by any corporation (including an acquisition in a
                           transaction of the nature described in Section
                           2(a)(3)) with respect to which, immediately following
                           such acquisition, more than 70%, respectively, of (i)
                           the combined voting power of the Company's
                           then-outstanding Voting Securities and (ii) the
                           Common Stock is then beneficially owned, directly or
                           indirectly, by all or substantially all of the
                           persons who beneficially owned Voting Securities and
                           Common Stock, respectively, of the Company
                           immediately before such acquisition in substantially
                           the same proportions as their ownership of such
                           Voting Securities and Common Stock, as the case may
                           be, immediately before such acquisition;

                           (2) Continuing Directors shall not constitute a
                  majority of the members of the Board of Directors of the
                  Company. For purposes of this

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                  Section 2(a)(2), "Continuing Directors" are the following: (A)
                  individuals who, on the date hereof, are directors of the
                  Company, (B) individuals elected as directors of the Company
                  after the date hereof for whose election proxies shall have
                  been solicited by the Board of Directors of the Company or (C)
                  individuals elected or appointed by the Board of Directors of
                  the Company to fill vacancies on the Board of Directors of the
                  Company caused by death or resignation (but not by removal) or
                  to fill newly created directorships, provided that "Continuing
                  Directors" shall not include individuals whose initial
                  assumption of office occurs as a result of an actual or
                  threatened election contest with respect to the threatened
                  election or removal of directors (or other actual or
                  threatened solicitation of proxies or consents) by or on
                  behalf of any person or group other than the Board of
                  Directors of the Company;

                           (3) Approval by the shareholders of the Company of a
                  reorganization, merger, statutory share exchange or
                  consolidation of the Company (other than a reorganization,
                  merger, statutory share exchange or consolidation with a
                  subsidiary of the Company), unless immediately following such
                  reorganization, merger, statutory share exchange or
                  consolidation all or substantially all of the persons who were
                  the beneficial owners, respectively, of Voting Securities and
                  Common Stock immediately before such reorganization, merger,
                  statutory share exchange or consolidation beneficially own,
                  directly or indirectly, more than 70% of, respectively, (A)
                  the combined voting power of the then-outstanding voting
                  securities entitled to vote generally in the election of
                  directors and (B) the then-outstanding shares of common stock
                  of the corporation resulting from such reorganization, merger,
                  statutory share exchange or consolidation in substantially the
                  same proportions as their ownership, immediately before such
                  reorganization, merger, statutory share exchange or
                  consolidation, of the Voting Securities and Common Stock, as
                  the case may be;

                           (4) (A) Approval by the shareholders of the Company
                  of a complete liquidation or dissolution of the Company or (B)
                  the sale or other disposition of all or substantially all of
                  the assets of the Company (in one or a series of
                  transactions), other than to a corporation with respect to
                  which, immediately following such sale or other disposition,
                  more than 70% of, respectively, (i) the combined voting power
                  of the then-outstanding voting securities of such corporation
                  entitled to vote generally in the election of directors and
                  (ii) the then-outstanding shares of common stock of such
                  corporation is then beneficially owned, directly or
                  indirectly, by all or substantially all of the persons who
                  were the beneficial owners, respectively, of the Voting
                  Securities and Common Stock immediately before such sale or
                  other disposition in substantially the same proportions as
                  their ownership, immediately before such

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                  sale or other disposition, of the Voting Securities and Common
                  Stock, as the case may be;

                           (5) The Company enters into a letter of intent, an
                  agreement in principle or a definitive agreement relating to
                  an Event described in Section 2(a)(1), 2(a)(2), 2(a)(3) or
                  2(a)(4) that ultimately results in such an Event, or a tender
                  or exchange offer or proxy contest is commenced that
                  ultimately results in an Event described in Section 2(a)(1) or
                  2(a)(2); or

                           (6) There shall be an involuntary termination or
                  Constructive Involuntary Termination of employment of the
                  Executive, and the Executive reasonably demonstrates that such
                  event (A) was requested by a party (other than the Board of
                  Directors of the Company) that had previously taken other
                  steps reasonably calculated to result in an Event described in
                  Section 2(a)(1), 2(a)(2), 2(a)(3) or 2(a)(4) and that
                  ultimately results in an Event described in any such Section,
                  or (B) otherwise arose in connection with or in anticipation
                  of an Event described in any such Section that ultimately
                  occurs.

         Notwithstanding anything stated in this Section 2(a), an Event shall
         not be deemed to occur with respect to the Executive if (x) the
         acquisition or beneficial ownership of the 30% or greater interest
         referred to in Section 2(a)(1) is by the Executive or by a group,
         acting in concert, that includes the Executive (provided that if the
         acquisition is by a group, the Executive must acquire or own
         beneficially 10% or greater of the interest referred to in Section
         2(a)(i)) or (y) a majority of the combined voting power of the
         then-outstanding voting securities (or voting equity interests) of the
         surviving corporation or of any corporation (or other entity) acquiring
         all or substantially all of the assets of the Company shall,
         immediately after a reorganization, merger, consolidation or
         disposition of assets referred to in Section 2(a)(3) or 2(a)(4), be
         beneficially owned, directly or indirectly, by the Executive or by a
         group, acting in concert, that includes the Executive (provided that if
         the acquisition is by a group, the Executive must beneficially own at
         least 10% of the surviving corporation or such other corporation).

                  (b) For purposes of this Agreement, a "subsidiary" of the
         Company includes any entity of which securities or other ownership
         interests having general voting power to elect a majority of the board
         of directors or other persons performing similar functions are at the
         time directly or indirectly owned by the Company.

         3. Payments and Benefits. If an Event occurs during the Term of this
Agreement, then the Executive shall be entitled to receive from the Company or
its successor (which includes any person acquiring all or substantially all of
the assets of the Company) a cash payment and other benefits on the following
basis (unless the Executive's employment by the Company is terminated
voluntarily or involuntarily before the occurrence of the earliest Event

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to occur (the "First Event"), in which case the Executive shall be entitled to
no payment or benefits under this Section 3):

                  (a)      If at the time of, or at any time after, the
         occurrence of the First Event and before the end of the Transition
         Period, the employment of the Executive with the Company is voluntarily
         or involuntarily terminated for any reason (unless such termination is
         a voluntary termination by the Executive other than a Constructive
         Involuntary Termination or is on account of the death or Disability of
         the Executive or is a termination by the Company for Cause), the
         Executive (or the Executive's legal representative, as the case may
         be), subject to the limitations set forth in Sections 3(e) and 3(g),

                           (1) shall be entitled to receive from the Company or
                  its successor, upon such termination of employment with the
                  Company or its successor, a cash payment in an amount equal to
                  three times the sum of (A) the Executive's then-current annual
                  base salary and (B) the greater of (i) the Executive's
                  annualized then-current year's bonus or (ii) the Executive's
                  annual bonus in the year prior to the then-current year, such
                  payment to be made to the Executive by the Company or its
                  successor in a lump sum at the time of such termination of
                  employment; and

                           (2) shall be entitled for three years after the
                  termination of the Executive's employment with the Company to
                  participate in any health, disability and life insurance plan
                  or program in which the Executive was entitled to participate
                  immediately before the First Event as if he were an employee
                  of the Company during such three-year period; provided
                  however, that if the Executive's participation in any such
                  health, disability or life insurance plan or program of the
                  Company is barred, the Company, at its sole cost and expense,
                  shall arrange to provide the Executive with benefits
                  substantially similar to those that the Executive would be
                  entitled to receive under such plan or program as if he were
                  not barred from participation.

                  (b)      The payments provided for in this Section 3 shall be
         in addition to any salary or other remuneration otherwise payable to
         the Executive on account of employment by the Company or one or more of
         its subsidiaries or its successor (including any amounts received
         before such termination of employment for personal services rendered
         after the occurrence of the First Event) but shall be reduced by any
         severance pay which the Executive receives from the Company, its
         subsidiaries or its successor under any other policy or agreement of
         the Company in the event of involuntary termination of Executive's
         employment.

                  (c)      The Company shall also pay to the Executive all legal
         fees and expenses incurred by the Executive as a result of such
         termination, including all such fees and

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         expenses, if any, incurred in contesting or disputing any such
         termination or in seeking to obtain or enforce any right or benefit
         provided by this Agreement.

                  (d)      If at any time from the date of the First Event until
         the end of the Transition Period,

                           (1) the Executive shall not be given substantially
                  equivalent or greater title, duties, responsibilities and
                  authority, in each case as compared with the Executive's
                  status immediately before the First Event, other than for
                  Cause or on account of Disability;

                           (2) the Executive's annual base salary or bonus
                  formula shall be reduced from the Executive's annual base
                  salary or bonus formula in effect immediately before the First
                  Event;

                           (3) the Company shall fail to provide the Executive
                  with benefits under the Company's pension, profit sharing,
                  retirement, life insurance, medical, health and accident,
                  disability, bonus and incentive plans and other employee
                  benefit plans and arrangements that in the aggregate for all
                  such plans and arrangements are at least as favorable to the
                  Executive as those benefits covering the Executive immediately
                  before the First Event or shall fail to provide the Executive
                  with at least the number of paid vacation days to which the
                  Executive was entitled immediately before the First Event;

                           (4) the Company shall have failed to obtain
                  assumption of this Agreement by any successor as contemplated
                  by Section 5(b) hereof;

                           (5) the Company shall require the Executive to
                  relocate to any place other than a location within 30 miles of
                  the location at which the Executive performed his primary
                  duties immediately before the First Event or, if the Executive
                  performed such duties at the Company's principal executive
                  offices, the Company shall relocate its principal executive
                  offices to any location other than a location within 30 miles
                  of the location of the principal executive offices immediately
                  before the First Event; or

                           (6) the Company shall require that the Executive
                  travel on Company business to a substantially greater extent
                  than required immediately before the First Event;

         then a  termination  of  employment  with the  Company by the Executive
         thereafter  shall  constitute  a "Constructive Involuntary
         Termination."

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                  (e) Notwithstanding any provision of this Agreement to the
         contrary, except the last sentence of this Section 3(e), if the
         lump-sum cash payment due and the other benefits to which the Executive
         shall become entitled under Section 3(a), either alone or together with
         other payments in the nature of compensation to the Executive that are
         contingent on a change in the ownership or effective control of the
         Company or in the ownership of a substantial portion of the assets of
         the Company or otherwise, would constitute a "parachute payment" as
         defined in Section 280G of the Code or any successor provision thereto,
         such lump-sum payment and/or such other benefits and payments shall be
         reduced (but not below zero) to the largest aggregate amount as will
         result in no portion thereof being subject to the excise tax imposed
         under Section 4999 of the Code (or any successor provision thereto) or
         being non-deductible to the Company for federal income tax purposes
         pursuant to Section 280G of the Code (or any successor provision
         thereto). The Executive in good faith shall determine the amount of any
         reduction to be made pursuant to this Section 3(e) and shall select
         from among the foregoing benefits and payments those which shall be
         reduced. No modification of, or successor provision to, Section 280G or
         Section 4999 after the date of this Agreement shall, however, reduce
         the benefits to which the Executive would be entitled under this
         Agreement in the absence of this Section 3(e) to a greater extent than
         they would have been reduced if Section 280G and Section 4999 had not
         been modified or superseded after the date of this Agreement,
         notwithstanding anything to the contrary provided in the first sentence
         of this Section 3(e).

                  (f) The Executive shall not be required to mitigate the amount
         of any payment or other benefit provided for in this Section 3 by
         seeking other employment or otherwise, nor (except as specifically
         provided in Section 3(a)(2) or 3(b)) shall the amount of any payment or
         other benefit provided for in this Section 3 be reduced by any
         compensation earned by the Executive as the result of employment by
         another employer after termination, or otherwise.

                  (g) Notwithstanding any other term of this Agreement, if (1)
         an Event has not yet occurred, (2) the Board of Directors of the
         Company desires to cause the Company to effect a transaction that will
         qualify as a pooling-of-interests transaction (a "Pooling Transaction")
         and (3) the independent certified public accountants for the Company
         advise the Board of Directors that they will be unable to render an
         opinion that such transaction will be treated as a Pooling Transaction
         solely because of the payments provided for in this Agreement (or in
         similar agreements with other employees of the Company), then the
         Executive agrees that upon the happening of any Event in connection
         with such Pooling Transaction he shall not be entitled to any payments
         under this Agreement as a result of such Event to the extent such
         payments would in the opinion of the Company's independent certified
         public accountants prevent them from providing the Company with a
         favorable opinion with respect to the treatment of the desired
         transaction as a Pooling Transaction.

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                  (h) The  obligations  of the Company under this Section 3
         shall survive the  termination  of this Agreement.

         4.       Definition of Certain Additional Terms.

                  (a) "Cause" means, and is limited to, (1) willful and gross
         neglect of his duties by the Executive or (2) an act or acts committed
         by the Executive constituting a felony and substantially detrimental to
         the Company or its reputation.

                  (b) "Code" means the Internal Revenue Code of 1986, as
amended, and any successor statute.

                  (c) "Disability" means the Executive's absence from his duties
         with the Company on a full-time basis for 180 consecutive business days
         as a result of the Executive's incapacity due to physical or mental
         illness, unless within 30 days after written notice pursuant to Section
         1 is given following such absence the Executive shall have returned to
         the full-time performance of his duties.

                  (d) "Including" means "including without limitation."

                  (e) Other than in Section 2(a), "person" means an individual,
         partnership, corporation, limited liability company, estate, trust or
         other entity.

                  (f) "Transition Period" means the three-year period commencing
         on the date of the earliest to occur of an Event described in Section
         2(a)(1), 2(a)(2), 2(a)(3) or 2(a)(4) (the "Commencement Date") and
         ending on the third anniversary of the Commencement Date.

         5.       Successors and Assigns.

                  (a) This Agreement shall be binding upon and inure to the
         benefit of the successors, legal representatives and assigns of the
         parties hereto; provided, however, that the Executive may not assign,
         pledge or otherwise dispose of or transfer any interest in this
         Agreement or any payments hereunder, whether directly or indirectly or
         in whole or in part, without the written consent of the Company or its
         successor.

                  (b) The Company will require any successor (whether direct or
         indirect, by purchase of a majority of the outstanding voting stock of
         the Company or all or substantially all of the assets of the Company,
         or by merger, statutory share exchange, consolidation or otherwise), by
         agreement in form and substance satisfactory to the Executive, to
         assume expressly and agree to perform this Agreement in the same manner
         and to the same extent that the Company would be required to perform it
         if no such succession had taken place. Failure of the Company to obtain
         such agreement

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         before the effectiveness of any such succession (other than in the case
         of a merger, statutory share exchange or consolidation) shall be a
         breach of this Agreement and shall entitle the Executive to
         compensation from the Company in the same amount and on the same terms
         as the Executive would be entitled hereunder if the Executive
         terminated his employment on account of a Constructive Involuntary
         Termination, except that for purposes of implementing the foregoing,
         the date on which any such succession becomes effective shall be deemed
         the date of termination. As used in this Agreement, "Company" means the
         Company as defined above and any successor to its business and/or
         assets as aforesaid that is required to execute and deliver the
         agreement provided for in this Section 5(b) or that otherwise becomes
         bound by this Agreement by operation of law.

         6.       Governing Law. This Agreement shall be construed in accordance
with the laws of the State of Minnesota, without giving effect to choice-of-law
principles.

         7.       Notices. All notices, requests and demands given to or made
pursuant hereto shall be in writing and shall be delivered or mailed to any such
party at its address as follows:

                  (a)      In the case of the Company:

                           Buffets, Inc.
                           10260 Viking Drive
                           Eden Prairie, Minnesota 55344
                           Attention:  Chief Executive Officer

                  (b)      In the case of the Executive:

                           David Goronkin
                           10260 Viking Drive
                           Eden Prairie, Minnesota 55344-7229

Either party may, by notice hereunder, designate a changed address. Any notice,
if mailed properly addressed, postage prepaid, registered or certified mail,
shall be deemed to have been given on the registered date or that date stamped
on the certified mail receipt.

         8.       Severability; Severance. If any portion of this Agreement is
held to be invalid or unenforceable for any reason, such invalidity or
unenforceability shall not affect the other portions of this Agreement and the
remaining portions hereof shall remain in full force and effect, and any court
of competent jurisdiction may so modify the objectionable provision so as to
make it valid and enforceable. If any benefits to the Executive provided in this
Agreement are held to be unavailable to the Executive as a matter of law, the
Executive shall be entitled to severance benefits from the Company, in the event
of an involuntary termination or Constructive Involuntary Termination of
employment of the Executive (other than a

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termination on account of the death or Disability of the Executive or a
termination for Cause) during the term of this Agreement occurring at the time
of or following the occurrence of an Event, at least as favorable to the
Executive (when taken together with the benefits under this Agreement that are
actually received by the Executive) as the most advantageous benefits made
available by the Employer to employees of comparable position and seniority to
the Executive during the five-year period before the First Event.

         9. Term. The "Term" of this Agreement shall begin on the date hereof
and shall end on the later of (a) December 31, 2005, provided that such period
shall be automatically extended for successive one-year terms thereafter until
notice of termination is given by the Company or the Executive at least 60 days
before December 31, 2005 or the one-year extension period then in effect, as the
case may be, or (b) if the Commencement Date occurs on or before December 31,
2005 (or before the end of the extension year then in effect as provided for in
clause (a) of this Section), the third anniversary of the Commencement Date.

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         In Witness Whereof, the parties have executed this Agreement as of the
date first written above.

                                          BUFFETS, INC.

                                          By:
                                             -----------------------------------
                                          Its:
                                              ----------------------------------

                                          EXECUTIVE

                                          --------------------------------------
                                          David Goronkin

                                      -11-<PAGE>   1
                                  EXHIBIT 10.5

                                SERVICE AGREEMENT

         THIS AGREEMENT made this 31st day of July, 1998, and effective August
1, 1998, by and between RADIO MANAGEMENT, L.L.C., a Minnesota limited liability
company (hereinafter "RMLLC"), and CHILDREN'S BROADCASTING CORPORATION, a
Minnesota Corporation (hereinafter "CBC").

         WHEREAS, RMLLC engages in business of providing administrative, general
and legal services for companies and CBC engages primarily in television
commercial production; and
         WHEREAS, CBC intends to retain RMLLC to provide administrative, general
and legal services for its television commercial production operations and in
connection with the wrapping up of its radio station interests according to the
terms and provisions set forth herein.
         NOW, THEREFORE, based upon the mutual premises contained herein, and
other good and valuable consideration, the parties hereby agree as follows:

1. SERVICES. During the term hereof, RMLLC shall perform general and
administrative services for CBC, including, but not limited to, payroll
services, general accounting services, general legal services and such other
services as the parties may mutually agree to from time to time.

2. COMPENSATION. In consideration for the services performed by RMLLC hereunder,
CBC shall pay RMLLC Seventy-five Thousand and no/100 Dollars ($75,000.00) per
month payable within thirty (30) days from the end of each calendar month. The
compensation paid to RMLLC hereunder shall not include any fees or expenses for
accounting, legal or other services performed for CBC by third parties.

<PAGE>   2

3. QUARTERLY REVIEW. The parties agree that they will review the services
provided by RMLLC hereunder and the compensation set forth herein at the end of
each calendar quarter during the term hereof, and at such time the services and
compensation may be adjusted upon the mutual agreement of the parties.

4. EXPENSES. In addition to the compensation set forth in Section 2 above, CBC
shall pay all reasonable and necessary expenses incurred by RMLLC in connection
with the services performed hereunder, including, but not limited to, travel and
lodging expenses and ay other expenses directly attributable to the services
performed by RMLLC hereunder. RMLLC shall bill CBC on a monthly basis for such
expenses and CBC shall pay the same within thirty (30) days from the date CBC
receives any such invoice.

5. INDEPENDENT CONTRACTOR. The parties hereby acknowledge that (i) RMLLC, while
performing services hereunder, at all times acting as an independent contractor
and not as an employee of CBC; (ii) RMLLC shall be solely responsible for all
federal, state and local income taxes, employment taxes, self-employment taxes,
workers' compensation insurance premiums and any and all other similar payments
RMLLC is required to make as a result of the services RMLLC performs hereunder.
CBC shall approve the engagement of any officer of RMLLC who shall pursuant to
such engagement also serve as an officer of CBC, and CBC shall affirm and agree
to the terms of such engagement.

6. LIMITATIONS ON LIABILITY. CBC hereby agrees that in no event shall RMLLC be
liable to CBC for any indirect, special or consequential damages or lost profits
arising out of or in any way related to the Agreement or the performance of
services hereunder or any breach thereof and that RMLLC's liability to CBC
hereunder, if any, shall in no even exceed the total compensation paid to RMLLC
hereunder.

7. TERM. This Agreement shall remain in effect for a period of one (1) year from
the date hereof; provided, however, the term of the Agreement shall
automatically renew for successive one (1) year periods unless terminated by
either party, by written notice delivered to the other party, within sixty (60)
days from the end of the then current term.

8. TERMINATION.  Notwithstanding Section 7 above, the Agreement shall terminate
upon the occurrence of any of the following events:

   a.     by RMLLC if CBC is more than sixty (60) days delinquent in its payment
          of compensation  or expenses  pursuant to the Sections 2 or 3 above;

   b.     by either party if the other party is in default under any provision
          hereunder and such default is not cured within sixty (60) days after
          notice thereof is given to the defaulting party;

<PAGE>   3

   c.     by either party if the other party becomes insolvent or seeks
          protection, voluntarily or involuntarily, under any bankruptcy law; or

   d.     upon the mutual agreement of both parties.

   A termination of this Agreement pursuant to this Section 8 or Section 7
   above shall not relieve CBC of its obligation to pay RMLLC compensation or
   expenses for any services rendered or expenses incurred prior to the date of
   termination.

9. GOVERNING LAW.  This Agreement shall be construed and enforced in accordance
   with the laws of the State of Minnesota.

   IN WITNESS WHEREOF, the parties hereto have executed the Agreement as
of the day and year first above written.

                                            RADIO MANAGEMENT, L.L.C.

                                            BY:   /s/ James G. Gilbertson
                                            ITS:  /s/ Chief Operating Officer

                                            CHILDREN'S BROADCASTING CORPORATION

                                            BY:   /s/ Patrick Grinde
                                            ITS:  /s/ Chief Financial Officer

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