SUBORDINATION AGREEMENT

Exhibit 10.4

SUBORDINATION AGREEMENT

                  THIS SUBORDINATION AGREEMENT (“Agreement”) is effective the 30th day of June 2002, by and among Venturos AS, a Norwegian corporation (“Venturos”), Glastad Holding Ltd., a Cayman Island corporation (“Glastad”), and Gezina AS, a Norwegian corporation (“Gezina” and together with Venturos and Glastad, the “Lenders”), and MediaBin, Inc., a Georgia corporation (the “Company”).

WITNESSETH:

                  WHEREAS, the Company is indebted to the Lenders pursuant to various documents that are described on Exhibit A, attached hereto (the “Junior Indebtedness”);

                  WHEREAS, the Company is indebted and may become further indebted pursuant to obligations, debts and liabilities that are presently or hereafter owed by Borrower to parties other than the Lenders, including but not limited to indebtedness pursuant to that certain Overdraft Credit Facility dated December 12, 2001 between the Company and Nordea Bank Norge ASA (the “Senior Indebtedness”); and

                  WHEREAS, the Lenders are willing to subordinate the Junior Indebtedness and any liens and pledges securing the Junior Indebtedness in the manner hereinafter set forth;

                  NOW, THEREFORE, in consideration of $10.00 in hand paid and for other consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed among the parties hereto as follows, each intending to be legally bound hereby;

[SIGNATURES ON NEXT PAGE]

         IN WITNESS WHEREOF, the undersigned have executed this Subordination Agreement as of the date first above written.

EXHIBIT A

Junior Indebtedness