Using ab initio band structure and model calculations we studied magnetic properties of one of the Mn4 molecular magnets (Mn4(hmp)6), where two types of the Mn ions exist: Mn 3+ and Mn 2+ . The direct calculation of the exchange constants in the GGA+U approximation shows that in contrast to a common belief the strongest exchange coupling is not between two Mn 3+ ions (J bb ), but along two out of four exchange paths connecting Mn 3+ and Mn 2+ ions (J wb ). Within the perturbation theory we performed the microscopic analysis of different contributions to the exchange constants, which allows us to establish the mechanism for the largest ferromagnetic exchange. In the presence of the charge order the lowest in energy virtual excitations, contributing to the superexchange, will be not those across the Hubbard gap ∼ U , but will be those between the Mn 3+ and Mn 4+ ions, which cost much smaller energy V (≪ U ). Together with strong Hund's rule coupling and specific orbital order this leads to large ferromagnetic exchange interaction for two out of four Mn 2+ -Mn
3+pairs.