Employment Agreement

Page 1 of the manager's employment contract for Mr. Nico J. Hildebrand, dated February 1, 1999.





MANAGER'S EMPLOYMENT CONTRACT



by and between the parties



IAT MULTIMEDIA INC.

Aarestrasse 17

CH-5300 Vogelsang-Turgi,



-hereinafter also referred to as the Holding-





Mr. NICO J. HILDEBRAND

born on September 17, 1949 in Hilversum, the Netherlands

In der Stieg 25,

D-41379 Bruggen



-hereinafter referred to as the Manager-





the following manager's employment contract has been concluded.





IAT Multimedia Inc. is the holding company of a German intermediate holding company, IAT Deutschland GmbH, Fahrenheitstrasse 9, D-28359 Bremen. The following companies are affiliated with the intermediate holding company:



FSE COMPUTER-HANDEL GMBH & CO. KG, Teichstrasse 15-19, D-66953 Pirmasens



and



COLUMBUS COMPUTER HANDELS- UND VERTRIEBS GMBH & CO. KG, Am Lindenhain 14, D-85435 Bergham/Aufhausen.



For purposes of this contract, the employer is IAT Deutschland GmbH, Bremen.





Art. 1



Effective February 1, 1999, and for an initial duration of one year, Mr. Hildebrand is appointed



GENERAL MANAGER (GESCHAFTSFUHRER)



of IAT DEUTSCHLAND GMBH, FSE COMPUTER HANDELVERWALTUNGSGESELLSCHAFT MBH AND COLUMBUS COMPUTER HANDELS UND VERTRIEBS-VERWALTUNGS-GMBH, hereinafter referred to as FSE and COLUMBUS.



Art. 2



The manager shall manage the businesses of FSE and COLUMBUS pursuant to current laws, the partnership contract, the internal regulations, the business distribution plan and the resolutions of the Board of Directors of the Holding company. He shall have the title and exercise the functions of a CHIEF OPERATING OFFICER.



The main duties of the manager shall be the management and continued development initially of the FSE and COLUMBUS companies based on approved budget, the active collaboration in the process of acquisitions, including the identification and evaluation of additional companies, and collaboration in the planned launching on the stock exchange.



Art. 3



The parties agree that the position of the manger requires intensive travelling. During the first phase, the manager shall exercise his activity primarily at the companies' head office and at his home office. By August 31, 1999, the parties shall specify the manager's place of employment, by mutual agreement.



Art. 4



The manager shall receive an annual salary of DM 240,000 (in words, two hundred forty thousand German marks) calculated net and paid by the intermediate holding company in Bremen retroactively at the end of the month, in 12 equal installments.



In addition, the manager shall be entitled to an annual bonus of 3% of the consolidated EBITDA of the FSE and COLUMBUS (profits before taxes, interest and depreciation). This bonus shall be paid once the annual audite ...