0000950123-06-003697 Sample Contracts

LETTER AGREEMENT
Loan Agreement • March 27th, 2006 • Mashinsky Alex • Services-business services, nec

This Agreement is entered into this 3 day of March, 2006 by and between Thai Lee (“Lee”) with an address at 2 Riverview Drive , Summerset NJ 08873 and Alex Mashinsky (“Alex”) with an address at 510 Berkeley Square Memphis, TN 38120.

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JOINT FILING AGREEMENT
Joint Filing Agreement • March 27th, 2006 • Mashinsky Alex • Services-business services, nec

Alex Mashinsky, Governing Dynamics Investments, LLC, Robert A. Marmon, Thai Lee and Thai Lee 2003 Grat A, each hereby agrees, in accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, that the Schedule 13D filed herewith, and any amendment thereto, relating to the shares of common stock, $0.001 par value per share, of Arbinet-thexchange, Inc. are, and will be, filed jointly on behalf of such person. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Schedule.

LETTER AGREEMENT
Loan Agreement • March 27th, 2006 • Mashinsky Alex • Services-business services, nec

This Agreement is entered into this 21 day of March, 2006 by and between “Thai Lee 2003 GRAT A” (“Lee”), with an address at : c/o Thai Lee, 2 Riverview Drive, Somerset, NJ 08873 and Alex Mashinsky (“Alex”) with an address at 510 Berkeley Square Memphis, TN 38120.

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