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Exhibit 10.3
SERVICE AGREEMENT BETWEEN R.S. XXXXXX, XXXXXX & CO. LP, A DELAWARE CORPORATION,
AND CENTRAL EUROPEAN MEDIA ENTERPRISES LTD., A BERMUDA CORPORATION
As of April 1, 1997 Central European Media Enterprises Ltd. agrees to reimburse
R.S.Xxxxxx, Xxxxxx & Co., LP for the following services performed as requested:
1) treasury functions, i.e. banking services, overview of all financial
functions,
2) legal and administrative functions, i.e. overview and management of
Central European Media Enterprises Ltd.'s legal relationships, insurance
policies, etc.
3) strategic planning, i.e. management of Central European Media Enterprises
Ltd.'s relationships with joint venture partners, both current and
future,
4) personnel policies, i.e. overview and management of hiring, compensation,
health insurance and other benefit activities relating to Central
European Media Enterprises Ltd.'s personnel, both current and future,
5) to be available to represent CME to major shareholders, i.e. management
of Central European Media Enterprises Ltd.'s relationships with major
investors, supplying data and explanations regarding current and future
strategies, investments, etc.,
6) interaction with major sources of new funding, i.e. managing Central
European Media Enterprises Ltd.'s activities and relationships with the
investment banking community and commercial banks and other lenders and
other sources of funding on a worldwide basis, and
7) making available office space, full secretarial and office support
services etc., to visiting CME personnel.
Expenses incurred during the performance of these services will be reimbursed
monthly provided full backup is provided.
This agreement will remain in force unless 90 days' notification of termination
is given to R. S. Xxxxxx, Xxxxxx & Co. , LP by Central European Media
Enterprises Ltd.
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CENTRAL EUROPEAN MEDIA: R.S. XXXXXX, XXXXXX & CO.0 LP
ENTERPRISES LTD. By: Bukfenc, Inc., its General Partner
By: Xxxxxxx Xxxxxx
Chief Financial officer
By: Xxxxxx Xxxxxx
President
