0001104659-09-002949 Sample Contracts

AMENDMENT NO. 1 TO SEPARATION AGREEMENT
Separation Agreement • January 20th, 2009 • CTC Media, Inc. • Television broadcasting stations

This Amendment No. 1 (this “Amendment”) to that certain Separation Agreement dated as of September 30, 2008 (the “Separation Agreement”) between CTC Media, Inc., a Delaware corporation (the “Company”), and Vladimir Khanumyan (the “Former Executive”) is made as of January 15, 2009 and is entered into by the Company and the Former Executive.

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