June 16, 2008 George Tsafalas c/o Suite 1220 - 666 Burrard Street Vancouver, BC V6C 2X8 Dear Mr. Tsafalas: Re: Change of Control AgreementPark Place Energy Corp. • June 19th, 2008 • Crude petroleum & natural gas
This letter will serve to confirm our agreement with respect to the settlement of any and all obligations which Park Place Energy Corp. (the "Company") may otherwise have to you in connection with your election to terminate the Consulting Agreement with the Company in accordance with the terms of the Change of the Control Agreement between yourself and the Company, said election as set forth in your letter of June 2, 2008.
