TERMINATION AGREEMENT
THIS TERMINATION AGREEMENT (this "Agreement") is made on April 17, 2007 by and
between Open Joint Stock Company "Moskovskaya Telecommunikatsionnaya
Corporatsyia" ("COMCOR") and Renova Media Enterprises Ltd. (fka "Columbus Nova
Investments VIII Ltd") ("RME"),
COMCOR and RME hereinafter collectively referred to as the "Parties".
WHEREAS, on August 26, 2004 the Parties entered into a shareholders' agreement
for the purpose of regulating certain matters with respect to voting of shares
of Moscow Cablecom Corp. owned by them ("Shareholders Agreement");
WHEREAS, effective as of June 7, 2006 (the "Effective Date") RME acquired from
COMCOR's controlling shareholder shares of COMCOR that resulted in RME being the
majority shareholder of COMCOR and having the ability to designate a majority of
its directors and is in the process of acquiring additional COMCOR shares that
will result in it again owning a majority of COMCOR's outstanding shares
notwithstanding a sale of certain of RME's shares of COMCOR to an unaffiliated
third party on April 10, 2007; and WHEREAS, this Agreement is intended to
confirm the intentions of the Parties to terminate the Shareholders Agreement as
of, and following, the Effective Date:
NOW, THEREFORE, effective as of the Effective Date the Shareholders Agreement is
agreed to have been terminated for all purposes pursuant to clause 17 thereof.
IN WITNESS WHEREOF this Agreement has been executed on the date first written
above by:
Open Joint-Stock Company Moskovskaya Telecommunikatsionnaya Corporatsyia:
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇▇▇▇▇
General Director
Renova Media Enterprises Ltd.:
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Director
