Offsetting Agreement Sample Contracts

USA
Offsetting Agreement • July 28th, 2006 • Pure Play Media Holdings, Inc.

RE: Offsetting of Loan from Private North America to Pure Play Media Inc. Dear Mr. Gillborg, Further to an oral agreement between Private North America and Pure Play Media, Inc as contemplated and agreed to by Richard Arnold, Phil Christmas and Johan Gillborg, this letter will serve as written confirmation to the agreement. It has been agreed that amounts due under the loan granted to Pure Play Media, Inc. by Private North America Inc. for the purchase of “Private” inventory, will be used to offset money due to Pure Play Media, Inc. from Fraserside Holdings Ltd. as derived from sales of Pure Play Media DVDs in Europe. This letter to be acknowledged and the terms thereof agreed to by the undersigned. Private North America, Inc. per. Pure Play Media Inc. per. ____/s/ Johan Gillborg___ ______/s/ Richard Arnold______ Johan Gillborg Richard Arnold

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