JAG MEDIA HOLDINGS, INC.
6865 S.W. 18TH STREET, SUITE B13
BOCA RATON, FL 33433

March 31, 2008

Cryptometrics, Inc.
73 Main Street
Tuckahoe, NY 10707

Re:
Agreement Amending Merger Agreement Among JAG Media Holdings, Inc. (“JAG
Media”), Cryptometrics Acquisition, Inc. (“Cryptometrics Acquisition”),
Cryptometrics, Inc. (“Cryptometrics”), Robert Barra, Michael Vitale, Karlen &
Stolzar, Thomas J. Mazzarisi and Stephen J. Schoepfer (collectively, the
“Parties”) dated as of January 24, 2007, as Further Amended by those Certain
Agreements Among the Parties dated as of February 26, 2007, April 2, 2007, April
20, 2007, May 11, 2007, May 18, 2007, June 15, 2007, July 16, 2007, August 16,
2007, November 7, 2007 and February 6, 2008 (“Merger Agreement Amendment”)

Gentlemen:

This will confirm our understanding regarding the following changes to the
Merger Agreement Amendment and the merger agreement which it amends (“Merger
Agreement”), which have been authorized by the directors of JAG Media,
Cryptometrics Acquisition and Cryptometrics:
 
1. The Closing Date set forth in the first sentence of paragraph 8 of the Merger
Agreement Amendment is hereby changed to April 14, 2008.
 
2. The Automatic Termination Date of March 31, 2008 set forth in the first
sentence of paragraph 9 of the Merger Agreement Amendment is hereby changed to
April 15, 2008.
 
3. Cryptometrics hereby accepts and approves that certain letter agreement
between JAG Media and YA Global Investments, LP dated March 27, 2008.
 
4. Cryptometrics shall deliver the following documents to JAG Media and its
attorneys, as indicated (the “Cryptometrics Deliveries”):
 

 
(a)
to JAG Media, simultaneously with the execution of this agreement, the written
consent of Robert Barra and Michael Vitale to the merger, which Messers Barra
and Vitale are required to deliver to JAG Media upon effectiveness of the
registration statement, pursuant to section 4 of the Company Voting and Lock-Up
Agreement among JAG Media, Robert Barra and Michael Vitale dated December 27,
2005 (“Voting Agreement”); and

 

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March 31, 2008
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(b)
to JAG Media’s attorneys, Morgan Lewis & Bockius LLP (’MLB”), no later than
April 11, 2008, an updated signed original of a tax certificate from
Cryptometrics, required as a condition to the updating of the MLB tax opinion,
in the form provided by JAG Media’s attorneys.

 
5. Karlen & Stolzar LLP, as Escrow Agent, acknowledge (a) receipt of the Merger
Documents pursuant to the terms of paragraph 10 of the January 24, 2007 letter
agreement among the Parties (the “January 2007 Letter Agreement) and (b) that
they are now holding the Merger Documents in escrow pursuant to paragraph 10 of
the January 2007 Letter Agreement.
 
6.  Cryptometrics acknowledges and agrees that the signed Affiliate Agreements
required to be delivered into escrow by Cryptometrics pursuant to paragraph 10
of the January 2007 Letter Agreement shall be delivered into escrow by
Cryptometrics no later than April 11, 2008.

All defined terms used in this agreement, which are not otherwise defined herein
shall have the meaning ascribed to them in the Merger Agreement Amendment.
Except as otherwise set forth in this agreement, the Merger Agreement Amendment
and the Merger Agreement shall remain unchanged and in full force and effect.
The Voting Agreement executed in connection with the Merger Agreement shall
continue in full force and effect and "Merger Agreement" as defined therein
shall include all amendments thereto, inclusive of that contained herein.

If the foregoing accurately reflects your understanding of our agreement
regarding the above matter, please indicate your agreement and acceptance by
signing in the appropriate space below and returning a fully executed and dated
copy of this agreement to the undersigned.

[SIGNATURES APPEAR ON FOLLOWING PAGE]

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Cryptometrics, Inc.
March 31, 2008
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Sincerely yours,
JAG MEDIA HOLDINGS, INC.
 
 
 
By: /s/ Thomas J. Mazzarisi                                
       Name: Thomas J. Mazzarisi
       Title: Chairman & CEO
       Date: March 31, 2008
 
 
AGREED AND ACCEPTED:
CRYPTOMETRICS ACQUISITION, INC.
 
 
 
By: /s/ Thomas J. Mazzarisi                               
        Name: Thomas J. Mazzarisi
       Title: President
       Date: March 31, 2008
AGREED AND ACCEPTED:
CRYPTOMETRICS, INC.
 
 
 
By: /s/ Robert Barra                                            
       Name: Robert Barra
       Title: Co-CEO
       Date: March 31, 2008
 
 
The undersigned is signing this agreement solely in its capacity as “Escrow
Agent” pursuant to the provisions of paragraph 10 of the Merger Agreement
Amendment and paragraph 5 of this Agreement
 
KARLEN & STOLZAR, LLP
 
 
By:  /s/ Michael I. Stolzar                                  
        Name: Michael I. Stolzar
       Title: Partner
       As of Date: March 31, 2008
 
 
 
                        /s/Robert Barra                          
                         Robert Barra
              Dated: March 31, 2008
 
 
 
 
                       /s/ Michael Vitale                        
                       Michael Vitale
              Dated: March 31, 2008
The undersigned are signing this agreement only with respect to their
obligations set forth in paragraph 12 of the Merger Agreement Amendment
 
 
                 /s/ Thomas J. Mazzarisi                    
                 Thomas J. Mazzarisi
              Dated: March 31, 2008
 
 
                 /s/ Stephen J. Schoepfer                   
                 Stephen J. Schoepfer
              Dated: March 31, 2008

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