Document:

Untitled Page

		
			

				

				Exhibit 10.29

				

				

			

		

		
			PLEDGE AND ESCROW AGREEMENT

				

				

			

		

		         THIS PLEDGE AND ESCROW AGREEMENT (this “Agreement”) is made and entered into as of December 31, 2004 by Pillsbury Holdings, Inc. (the “Pledgor”), having its principal address at Suite 4, Temple Building, Prince William & Main Street, Charlestown, Nevis, West Indies, in favour of Doral EZ Investments Inc. (“Lender”), having a principal address at 3482 - 9th Line, Innisfil, Ontario, Canada, L9S 3Z9.

			

		

		
			WITNESSETH THAT:

				

			

		

		WHEREAS, Pledgor is indebted to the Lender the unsecured sum of CDN$1,675,584 (the “Loan”) which is now due and owing;

			

			WHEREAS, Pledgor has offered to grant the Lender security on 929,583 Units (the “Units”) in the capital of Pure Play Media Holdings, Inc. (“Pure Play”) with each Unit consisting of one share of common stock and one share purchase warrant (each a “Warrant”), and with each such Warrant entitling the holder to acquire one additional share of common stock at a price of US$2.50 commencing on December 31, 2006, the date which is 24 months from the date of issuance of the Units by Pure Play to Pillsbury and expiring on December 31, 2008, the date that is 48 months from the date of the issuance of the Units, which is owned by the Pledgor as security for the Loan and to make payments in accordance with the Assumption of Indebtedness and Loan Agreement (the “Loan Agreement”), dated December 31, 2004, entered into between the Pledgor, Lender, Pure Play and Pure Play Media, Inc. (“PPM”)

			

			WHEREAS, Pledgor has agreed to place into escrow and pledge herewith the Units represented by share certificate no.C43 and share purchaser warrant certificate no.1 and to grant a pledge of all Pledgor’s rights and interests in such Units to secure with the Units the Loan and recovery of any part thereof on default of payment and which Loan is to be repaid in accordance with the Loan Agreement.

			

			WHEREAS, Lender has agreed to the terms of this Agreement on the condition that Pledgor (i) deliver the Units and transfer authorities (“Transfer Documents”) into escrow by the terms of this Agreement, (ii) pledge to Lender a security interest in the Units as to all and any interests, residual, option, or otherwise in the Units, and (iii) execute and deliver this Agreement in order to secure the payment and performance by Pledgor of the Loan;

			

			NOW, THEREFORE, in consideration of the premises and in order to induce Lender to make the Loan, Pledgor hereby agrees with Lender as follows:

			

			          SECTION 1.   SHARE ESCROW.   Pledgor hereby places into escrow with the Escrow Agent (as defined hereinafter in the Escrow Agreement attached to the Loan Agreement as Schedule “C”) the Units and all and every of its interest therein, and Pledgor shall immediately upon execution hereof deliver to the Escrow Agent:

			

			

			

		

		

		
			

				

				2

				

				

			

		

		             (a)        the share certificates representing the shares of common stock of Pure Play and the share purchase warrants to acquire additional shares of common stock of Pure Play forming the Units; and

			

			             (b)        if received by Pledgor prior to or after escrow of the Units herewith and before payment of the Loan or after realisation by the Lender of the Units in execution of its recourses to recover the Loan, all additional shares of stock of, or equity interest in, Pure Play from time to time acquired by Pledgor in any manner arising by share dividend, stock split, or otherwise of the Units, and the certificates representing such additional shares (any such additional shares shall constitute part of the Units under and as defined in this Agreement), and all products and proceeds of any of such additional Units, including, without limitation, all dividends, cash, instruments, subscriptions, warrants and any other rights and options and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any and all of such additional Units;

			

			             (c)        an undated stock transfer power of attorney which is medallion stamped with respect to the Units; and

			

			             (d)        an undated resolution of the board of directors of Pillsbury approving the transfer of the Pledged Shares in accordance with the terms of this Agreement.

			

			         SECTION 2.   PLEDGE.   Pledgor hereby pledges to Lender, and grants to Lender a continuing first priority, and perfected security interest in, the following (the “Pledged Collateral”):

			

			             (a)        the Units and the certificates representing the Units and all interest of the Pledgor therein and extinguishment thereof upon exercise of the Pledge, and all products and proceeds of any of the Units including, without limitation, all dividends (other than as provided elsewhere herein), cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Units; and

			

			             (b)        all additional shares of stock of, or equity interest in, Pure Play from time to time acquired by Pledgor in respect to the Units in any manner arising by share dividend, stock split, or otherwise of the Units, and the certificates representing such additional shares (any such additional shares shall constitute part of the Units under and as defined in this Agreement), and all products and proceeds of any of such additional Units, including, without limitation, all dividends, cash, instruments, subscriptions, warrants and any other rights and options and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any and all of such additional Units.

			

			         SECTION 3.   SECURITY FOR OBLIGATIONS.   This Agreement secures (i) the due and punctual payment in full (and not merely the collectibility) of the Principal Sum amount of the Loan, and the Interest thereon, in each case when due and payable, according to the terms of the Loan Agreement, whether at stated maturity or otherwise; (ii) the due and punctual payment in full (and not merely the collectibility) of the obligations, liabilities, indebtedness and all other sums and charges which may at any time be due and payable in accordance with, or under the terms and

		

			

			

			

		

		

		
			

				

					3

				

				

			

		

		conditions of the Loan Agreement, whether at stated maturity or otherwise; (iii) the due and punctual payment (and not merely the collectibility), performance and observance of all of this Pledge Agreement and the other obligations, terms, covenants and conditions, whether now or hereafter existing, contained in any other collateral Loan documents (collectively, and together with the Loan Agreement, the “Loan Documents”) and to be performed or observed by Pledgor; (iv) the accuracy of the representations and warranties made by Pledgor in all Loan Documents to which it is a party (all of the foregoing are collectively called the “Obligations”); (the Obligations and all such obligations of Pledgor now or hereafter existing under this Agreement being referred to herein as the “Liabilities”).

			

			         SECTION 4.   REPRESENTATIONS AND WARRANTIES.   Pledgor represents and warrants as follows:

			

			             (a)        The Units have been duly authorized and validly issued and are fully paid and non-assessable.

			

			             (b)        Pledgor is the legal and beneficial owner of the Pledged Collateral, free and clear of any lien or any interests by any other person on the Pledged Collateral.

			

			             (c)        Upon the delivery by the Escrow Agent of the Units, the certificates, and the Transfer Documents, in the event of default the transfer of the Units pursuant to this Agreement creates a valid and perfected transfer of the Units to the Lender with the caveat that the Units are subject to such hold period as may be stated on the certificates.

			

			             (d)        Upon the delivery to Lender of the Pledged Collateral, the pledge of the Pledged Collateral pursuant to this Agreement creates a valid and perfected first priority interest in the Pledged Collateral securing the payment of the Liabilities for the benefit of Lender.

			

			             (e)        No authorization, approval, or other action by, and no notice to or filing with, any governmental authority or regulatory body or Pure Play is required (except applicable material change reports and insider reports) (i) for the pledge by Pledgor of the Pledged Collateral pursuant to this Agreement or for the execution, delivery or performance of this Agreement by Pledgor or (ii) for the transfer herein provided or (iii) for the exercise by Lender of the rights provided for in this Agreement or the remedies in respect of the Pledged Collateral pursuant to this Agreement.

			

			             (f)        Pledgor has full power and authority to enter into this Agreement and has the right to vote, pledge and grant a security interest in the Units as provided by this Agreement.

			

			             (g)        This Agreement has been duly authorized, executed and delivered by Pledgor and constitutes a legal, valid and binding obligation of Pledgor, enforceable against Pledgor in accordance with its terms, except as such enforceability may be limited by the effect of any applicable bankruptcy, insolvency, reorganisation, moratorium or other similar laws.

			

			             (h)        The preamble to this Agreement is made a part of this Agreement and the terms stated therein are true and accurate.

			

			

			

		

		

		
			

				

				4

				

				

			

		

		         SECTION 5.   FURTHER ASSISTANCE.   Pledgor agrees that at any time and from time to time, at the expense of Pledgor, Pledgor will promptly execute and deliver, or cause to be executed and delivered, all stock powers, proxies, assignments, instruments and documents and take all further action, that is reasonably necessary, at Lender's request, in order to perfect any transfer or security interest granted or purported to be granted hereby or to enable Lender to exercise and enforce its rights and remedies hereunder with respect to any Pledged Collateral and to carry out the provisions and purposes hereof.

			

			         SECTION 6.   TRANSFER OF UNITS   Pledgor hereby authorizes Lender at any time to cause the Units to be transferred and registered to the Lender or any other party the Lender may determine for the purpose of realizing on the Units to acquire proceeds to pay the Loan.

			

			         SECTION 7.   TRANSFERS AND OTHER LIENS.   Except for the purpose of securing proceeds to retire the Loan, Pledgor agrees that it will not (i) sell or otherwise dispose of, or grant any option with respect to, any of the Units until the Loan comes due, the Principal Sum amount and Interest on the Loan is fully paid and any rectification of default period has expired remedied, except with the written permission of the Lender, or (ii) create or permit to exist any lien upon or with respect to any of the Pledged Collateral, except for the security interest granted under this Agreement.

			

			         SECTION 8.   LENDER APPOINTED ATTORNEY-IN-FACT.   In addition to all of the powers granted to Lender pursuant to the Loan, Pledgor hereby appoints Lender as Pledgor's attorney-in-fact, with full authority in the place and stead of Pledgor and in the name of Pledgor or otherwise, from time to time in Lender's discretion to take any action and to execute any instrument which Lender may deem necessary or advisable to further perfect and protect the security interest granted hereby, including, without limitation, to receive, endorse and collect all instruments made payable to Pledgor representing any dividend, interest or principal payment or other distribution in respect of the Pledged Collateral or any part thereof and to give full discharge for the same.

			

			         SECTION 9.   LENDER MAY PERFORM.   If Pledgor fails to perform any agreement contained herein, Lender may itself perform, or cause performance of, such agreement, and the reasonable expenses of Lender incurred in connection therewith shall be payable by Pledgor.

			

			         SECTION 10.   NO ASSUMPTION OF DUTIES; REASONABLE CARE.   The rights and powers granted to Lender hereunder of the Pledge are being granted in order to preserve and protect Lender's security interest in and to the Pledged Collateral granted hereby and shall not be interpreted to, and shall not, impose any duties on Lender in connection therewith. Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which Lender accords its own property, it being understood that Lender shall not have any responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Collateral, whether or not Lender has or is deemed to have knowledge of such matters, or (ii) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

			

			

			

		

		

		
			

				

				5

				

				

			

		

		         SECTION 11.   SUBSEQUENT CHANGES AFFECTING COLLATERAL.   Pledgor represents to Lender that Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and Pledgor agrees that Lender shall have no responsibility or liability for informing Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. Pledgor covenants that it will not, without the prior written consent of Lender, sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or create or permit to exist any lien upon or with respect of any of the Pledged Collateral.

			

			         SECTION 12.   REMEDIES UPON DEFAULT.   If any Event of Default shall have occurred and be continuing and Pledgor shall not have rectified within the time period(s) provided for under the terms and conditions of the Loan Agreement after notice of default, Lender shall, in addition to all other rights given by law or by this Agreement, the Loan Agreement or otherwise, have all the rights and remedies with respect to the Pledged Collateral of a secured party under the laws of the Province of Ontario and Lender shall have the option to: (i) have the Pledged Collateral transferred and registered on the books of Pure Play into the Lender's name, or in the name(s) of the Lender's nominee(s) in the Lender's sole and absolute discretion, as full satisfaction of the Loan; or (ii) instruct the Escrow Agent to surrender the Pledged Collateral back to Pure Play for cancellation and return to treasury. Should the Lender determine to instruct the Escrow Agent to surrender the Pledged Collateral back to Pure Play for cancellation and return to treasury, then Pure Play will be deemed to have assumed the Loan from PPM and consequent thereon, will continue to make the Interest and Principal Sum payments on the Loan to the Lender as set forth in accordance with the terms and conditions of the Underlying Loan and Security Agreement (as defined in the Loan Agreement); and all remaining terms and conditions of the Underlying Loan and Security Agreement will continue to govern the assumption of the Loan by Pure Play on behalf of PPM. In addition, with respect to any Pledged Collateral which shall then be in or shall thereafter come into the possession or custody of Lender, Lender may sell or cause the same to be sold at any broker's board or at public or private sale, in one or more sales or lots, at such price or prices as Lender may deem best, for cash or on credit or for future delivery, without assumption of any credit risk. The purchaser of any or all Pledged Collateral so sold shall thereafter hold the same absolutely, free from any claim, encumbrance or right of any kind whatsoever. Any sale of the Pledged Collateral shall be conducted by Lender without any notice requirement and as full owner thereof and Lender is not required to conduct the same in conformity with commercial practices of banks, insurance companies, commercial finance companies, or other financial institutions disposing of property similar to the Pledged Collateral. Any requirement of notice, demand or advertisement for sale is, to the extent permitted by law, waived. All expenses (including court costs and reasonable attorneys' fees, expenses and disbursements) of, or incident to, the enforcement of any of the provisions hereof shall be recoverable from the proceeds of the sale or other disposition of the Pledged Collateral.

			

			         SECTION 13.   EXPENSES.   Pledgor will upon demand pay to Lender the amount of any and all reasonable expenses, including, without limitation, the reasonable fees, expenses and disbursements of its counsel (and, upon the occurrence and during the continuance of an Event of Default, the fees, expenses and disbursements of any investment banking firm, business broker or other selling agent and any other experts and agents retained by Lender), which Lender may incur in 

			

			

			

		

		

		
			

				

				6

				

				

			

		

		connection with (i) the administration of this Agreement, (ii) the custody or preservation of, or the sale of, collection from, or other realization upon, any of the Pledged Collateral, (iii) the exercise or enforcement of any of the rights of Lender hereunder or (iv) the failure by Pledgor to perform or observe any of the provisions hereof.

			

			         SECTION 14.   SECURITY INTEREST ABSOLUTE.   All rights of Lender and security interests hereunder, and all obligations of Pledgor hereunder, shall be absolute and unconditional irrespective of:

			

			             (a)        any lack of validity or enforceability of the Loan or any other agreement or instrument relating thereto;

			

			             (b)        any change in the time, manner or place of payment of, or in any other term of, all or any of the Liabilities, or any other amendment or waiver of or any consent to any departure from the Loan;

			

			             (c)        any exchange, surrender, release or non-perfection of any other collateral, or any release or amendment or waiver of or consent to departure from any guaranty, for all or any of the Liabilities; or

			

			             (d)        any other circumstances which might otherwise constitute a defence available to, or a discharge of, Pledgor in respect to the Liabilities or of this Agreement.

			

			         SECTION 15.   MISCELLANEOUS PROVISIONS.

			

			         SECTION 15.1   Notices.   All notices, approvals, consents or other communications required or desired to be given hereunder shall be in the form and manner, and delivered to each of the parties hereto at their respective addresses, set forth first herein.

			

			         SECTION 15.2   Headings.   The headings in this Agreement are for purposes of reference only and shall not affect the meaning or construction of any provision of this Agreement.

			

			         SECTION 15.3   Severability.   The provisions of this Agreement are severable, and if any clause or provision shall be held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect in that jurisdiction only such clause or provision, or part thereof, and shall not in any manner affect such clause or provision in any other jurisdiction or any other clause or provision of this Agreement in any jurisdiction.

			

			         SECTION 15.4   Amendments, Waivers and Consents.   Any amendment or waiver of any provision of this Agreement and any consent to any departure by Pledgor from any provision of this Agreement shall be effective only if made or given in writing.

			

			         SECTION 15.5   Continuing Security Interest.   This Agreement shall create a continuing security interest in the Pledged Collateral and shall (i) remain in full force and effect until payment in

			

			

			

		

		

		
			

				

				7

				

				

			

		

		full (including after the date for final payment) of the Obligations and of the Loan and any other Loan Documents, (ii) be binding upon Pledgor, its successors and assigns, and (iii) enure, together with the rights and remedies of Lender hereunder, to the benefit of Lender and its successors, transferees and assigns.

			

			         SECTION 15.6   Reinstatement.   To the extent permitted by law, this Agreement shall continue to be effective or be reinstated if at any time any amount received by Lender in respect of the Liabilities is rescinded or must otherwise be restored or returned by Lender upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of Pledgor or upon the appointment of any receiver, intervenor, conservator, trustee or similar official for Pledgor or any substantial part of its assets, or otherwise, all as though such payments had not been made.

			

			         SECTION 15.7   Survival of Provisions.   All representations, warranties and covenants of Pledgor contained herein shall survive the execution and delivery of this Agreement, and shall terminate only upon the full and final payment and performance by Pledgor of the Obligations secured hereby and termination of the Loan and any other Loan Documents.

			

			         SECTION 15.8   Waiver of Demand.   Pledgor waives presentment and demand for payment of any of the Liabilities, protest and notice of dishonour or default with respect to any of the Liabilities, and all other notices to which Pledgor might otherwise be entitled, except as otherwise expressly provided herein.

			

			         SECTION 15.9   Authority of Lender.   Lender shall have and be entitled to exercise all powers hereunder which are specifically granted to Lender by the terms hereof, together with such powers as are reasonably incident thereto. Lender may perform any of its duties hereunder or in connection with the Pledged Collateral by or through agents or employees and shall be entitled to retain counsel and to act in reliance upon the advice of counsel concerning all such matters. Neither Lender nor any officer, employee, attorney or agent of Lender shall be liable to Pledgor for any action taken or omitted to be taken by it or them hereunder, except for its or their own gross negligence or wilful misconduct, nor shall Lender be responsible for the validity, effectiveness or sufficiency hereof or of any document or security furnished pursuant hereto. Lender and its officers, employees, attorneys and agents shall be entitled to rely on any communication, instrument or document reasonably believed by it or them to be genuine and correct and to have been signed or sent by the proper person or persons. Pledgor agrees to indemnify and hold harmless Lender and any person of the Lender from and against any and all costs, expenses (including reasonable fees, expenses and disbursements of attorneys and paralegals), claims and liabilities incurred by Lender or such person hereunder, unless such claim or liability shall be due to wilful misconduct or gross negligence on the part of Lender or such person.

			

			         SECTION 15.10   Release; Termination of Agreement.   Subject to the provisions of Section 15.6 hereof, this Agreement shall terminate upon full and final payment and performance of all the Obligations.

			

			         SECTION 15.11   Counterparts.   This Agreement may be executed in one or more counterparts and may be executed by facsimile, each of which shall be deemed an original but all of which shall together constitute one and the same agreement.

			

			

			

		

		

		
			

				

				8

				

				

			

		

		

			         SECTION 15.12   Governing Law; Submission to Jurisdiction; Counsel

			

			             (a)        This Agreement shall be governed by and interpreted under the laws of the Province of Ontario and any dispute arising out of, connected with, related to, or incidental to the relationship established between Pledgor and Lender in connection with this Agreement, and whether arising in contract, tort, equity or otherwise, shall be resolved in Ontario, Canada.

			

			             (b)        Pledgor (i) agrees that Lender shall not have any liability to Pledgor (whether sounding in tort, contract or otherwise) for losses suffered by Pledgor in connection with, arising out of, or in any way related to, the transactions contemplated and the relationship established by this Agreement, or any act, omission or event occurring in connection therewith, unless it is determined by a judgement of a court that is binding on Lender (which judgement shall be final and not subject to review on appeal) that such losses were the result of acts or omissions on the part of Lender constituting gross negligence or wilful misconduct and (ii) waives, releases and agrees not to sue upon any claim against Lender (whether sounding in tort, contract or otherwise), except a claim based upon gross negligence or wilful misconduct. Whether or not such damages are related to a claim that is subject to the waiver effected above and whether or not such waiver is effective, Lender shall not have any liability with respect to, and Pledgor hereby waives, releases and agrees not to sue upon any claim for, any special, indirect, consequential or punitive damages suffered by Pledgor in connection with, arising out of, or in any way related to the transactions contemplated or the relationship established by this Agreement, or any act, omission or event occurring in connection therewith, unless it is determined by a judgement of a court that is binding on Lender (which judgement shall be final and not subject to review on appeal), that such damages were the result of acts or omissions on the part of Lender constituting wilful misconduct.

			

			             (c)        Pledgor and Lender acknowledges that for the purpose of this Agreement and the security contemplated herein that Devlin Jensen acts for Pure Play, Pledgor and Lender release Devlin Jensen from any conflict with the Escrow Agent duties which have been requested of Devlin Jensen, Pledgor and Lender subscribe to and endorse the Escrow Agent provisions of the Escrow Agreement attached to the Loan Agreement as Schedule “C” following their initial signatures hereto, and Pledgor has been advised to seek its own counsel and has taken its own counsel for this purpose.

			

		

		
			[The rest of this page is intentionally left blank]

			

		

		

			

			

			

			

			

			

			

			

		

		

			

			

		

		

		
			

				

				9

				

				

			

		

		             (d)        Pledgor waives the posting of any bond otherwise required of Lender in connection with any judicial process or proceeding to enforce any judgement or other court order entered in favour of Lender, or to enforce by specific performance, temporary restraining order or preliminary or permanent injunction this Agreement or any other Agreement or document between Pledgor and Lender.

			

			

		

		IN WITNESS WHEREOF, Pledgor and Lender have each caused this Agreement to be duly executed and delivered as of the date first above written.

			

		

		
			PLEDGOR:                                                                 

				

				Pillsbury Holdings, Inc.                                             

				

				

				                                     Per:  /s/ Souren Agemian, Jr.                                        

				Authorized Signatory                                          

				
___Souren Agemian, Jr., Investment Advisor____       

				(print name and title)                                            

				

				

				LENDER:                                                                   

				

				Doral EZ Investments Inc.                                       

				

				Per:  /s/ Erwin Zecha                                                    

				Authorized Signatory                                          

				
___Erwin Zecha, President________________          

				(print name and title)Untitled Page

		
			

				

				Exhibit 10.30

					

				

			

		

		
			POOLING AGREEMENT

				

				

			

		

		                      THIS POOLING AGREEMENT is made and dated effective (the "Effective Date") as of the 31st day of December, 2004 and is a collateral agreement and attached as a document to the Assumption of Indebtedness and Loan Agreement, dated December 31, 2004 (the "Loan Agreement").

			

			

			AMONG:

			

			

			                      PILLSBURY HOLDINGS, INC.

			

			                      (hereinafter referred to as the “Pooled Shareholder”);

			

		

		
			OF THE FIRST PART

				

				

			

		

		AND:

			

			

			                       PURE PLAY MEDIA HOLDINGS, INC.

			

			                       (hereinafter referred to as “PPMH”);

			

		

		
			OF THE SECOND PART

			

		

		
			

				AND:

				

				

				                       {POOLING TRUSTEE}, having an address for delivery

				                       located at                                                                        

				                                                    , or such other pooling trustee as is

					                       appointed hereunder

				

				                       (the “Pooling Trustee”);

				

			

		

		
			OF THE THIRD PART

				

			

		

		                       (the Pooled Shareholder, PPMH and the Pooling Trustee

			                       being hereinafter singularly also referred to as a “Party” and

			                       collectively referred to as the “Parties” as the context so

			                       requires).

			

			

			

		

		
			

			

			

			-2-

			

		

		
			                       WHEREAS:

				

				
A.                   PPMH is a non-reporting company incorporated under the laws of the State of Nevada, U.S.A.;

				

				
B.                    The Pooling Trustee is {PPMH’s registrar and transfer agent for its common shares in the United States};

				

				
C.                    PPMH and the Pooled Shareholder herein agree to use their reasonable commercial efforts to initiate, complete and enter into a formal pooling agreement whereby the Pooled Shareholder will pool all of its respective Pooled Shares on a reasonably equitable basis (collectively, the “Pool”); a complete listing of the Pooled Shareholder and its Pooled Shares in and to PPMH being set forth in Schedule “A” which is attached hereto and which forms a material part of this agreement (the “Agreement”); and

				

				
D.                    The Parties hereto have agreed to enter into this Agreement which necessarily clarifies their respective duties and obligations with respect to the within Pool and the Pooled Shares all in accordance with the terms and conditions of this Agreement;

				

				
                         NOW THEREFORE THIS AGREEMENT WITNESSETH that, in consideration of the mutual covenants and provisos herein contained, THE PARTIES HERETO AGREE AS FOLLOWS:

				

				

				

				

				

				

				

				

				

				

				

				

				

				

			

		

		
			

			

			

			-3-

			

			

			Article 1

			DEFINITIONS AND INTERPRETATION

			

			

		

		1.1                       Definitions.      For all purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires, the following words and phrases shall have the following meanings:

			

			

		

		
			(a)     “Agreement” means this Pooling Agreement as from time to time supplemented or amended by one or more agreements entered into pursuant to the applicable provisions hereof, together with any Schedules attached hereto;

				

				

				(b)     “Attorney” has the meaning ascribed to it in section “5.3” hereinbelow;

				

				

				(c)     “Arbitration Act” means the Arbitration Act (Ontario), S.O. 1991, as amended, as set forth in Article “7” hereinbelow;

				

				

				(d)     “Board of Directors” means the Board of Directors of PPMH as duly constituted from time to time;

				

				

				(e)     “business day” means any day during which Canadian Chartered Banks are open for business in the City of Toronto, Province of Ontario;

				

				

				(f)     “Effective Date” has the meaning ascribed to it on the front page of this Agreement;

				

				

				(g)     “First Release Date” has the meaning ascribed to it in section “2.2” hereinbelow;

				

				

				(h)     “Parties” or “Party” means, individually and collectively, PPMH, the Pooling Trustee and/or the Pooled Shareholders hereto, as the context so requires, together with each of their respective successors and permitted assigns as the context so requires;

				

				

				(i)     “Pool” has the meaning ascribed to it in recital “D.” hereinabove;

				

				

				(j)     “Pool Committee” has the meaning ascribed to it in section “2.3” hereinbelow;

			

		

		
			
				

					

					

				

			

		

		
			

			

			

			-4-

			

			

		

		
			(k)     “Pooled Share Documents” has the meaning ascribed to it in section “3.2” hereinbelow;

				

				

				(l)     “Pooled Shareholder” has the meanings ascribed to it in recital “C.” hereinabove; the particulars of which are set forth in Schedule “A” which is attached hereto;

				

				

				(m)     “Pooled Share” and “Pooled Shares” have the meanings ascribed to them in recital “C.” hereinabove; the particulars of which are set forth in Schedule “A” which is attached hereto;

				

				

				(n)     “Pool Term” has the meaning ascribed to it in section “2.2” hereinbelow;

				

				

				(o)     “Pooling Trustee” means {Pooling Trustee}, or any successor company, however formed, whether as a result of merger, amalgamation or other action; together with any successor trustee to the Pooling Trustee under this Agreement;

				

				

				(p)     “Power of Attorney” has the meaning ascribed to it in section “5.3” hereinbelow;

				

				

				(q)     “PPMH” means Pure Play Media Holdings, Inc., a company incorporated under the laws of the State of Nevada, USA, or any successor company, however formed, whether as a result of merger, amalgamation or other action;

				

				

				(r)     “Regulatory Authorities” and “Regulatory Authority” means, either singularly or collectively as the context so requires, such regulatory agencies who have jurisdiction over the affairs of either PPMH, the Pooling Trustee and/or the Pooled Shareholder and including, without limitation, and where applicable, the Ontario Securities Commission, the United States Securities and Exchange Commission, NASDAQ and all regulatory authorities from whom any such authorization, approval or other action is required to be obtained or to be made in connection with the transactions contemplated by this Agreement;

				

				

				(s)     “Release Condition” has the meaning ascribed to it in section “2.2” hereinbelow; and

				

				

			

		

		1.2                      Interpretation.      For the purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:

			

			

			

		

		
			

			

			

			-5-

			

			

		

		
			(a)     the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, section or other subdivision of this Agreement;

				

				

				(b)     any reference to an entity shall include and shall be deemed to be a reference to any entity that is a permitted successor to such entity; and

				

				

				(c)     words in the singular include the plural and words in the masculine gender include the feminine and neuter genders, and vice versa.

				

				

			

		

		1.3                      Schedule.     For the purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires, the following shall represent the Schedule which is attached to this Agreement and which forms a material part hereof:

			

			

			                              Schedule                                                                Description

			

			

			                            Schedule “A”:                                    Pooled Shareholder and Pooled Shares.

			

			

		

		
			Article 2

				POOLED SHARES AND TERMS OF THE POOL

				

				

			

		

		2.1                      Pooled Shares to be held in Pool.     During the continuance of this Agreement the Pooled Shareholder hereby agrees that its respective Pooled Shares as set forth in Schedule “A” which is attached hereto shall issue into the possession of the Pooling Trustee which shall hold the same in trust under the terms of this Pool for the benefit of the Pooled Shareholder as listed in Schedule “A” and, in addition, that the Pooled Shares shall be held pursuant to this Pool and may only be released in accordance with the terms and conditions of this Agreement.

			

			

			2.2                      Pool and Pool Term.     During the continuance of this Agreement the Pooled Shareholder hereby agrees that the Pooled Shares shall not be traded, shall remain subject to Pool during any legally required hold period(s) and become available for trading and may be released and sold only in the following manner and at the following times (the full extent of such time being hereinafter referred to as the “Pool Term”):

			

			

			

		

		
			

			

			

			-6-

			

			

		

		

		
			(a)     an initial ten percent (10%) of the Pooled Shares shall be released to the Pooled Shareholder on the date which is one calendar year from the Effective Date of this Agreement (the “First Release Date”) in accordance with each Pooled Shareholder’s respective shareholdings; and

				

				

				(b)     the lesser of:

			

		

		

				
						a further ten percent (10%) of the Pooled Shares; or

						

					
	a further one percent (1%) of the average trading volume of PPMH’s shares over the four weeks prior to the end of each quarter period of PPMH’s fiscal year

						

				

			

		
		
			shall be released to the Pooled Shareholder in each quarter period of PPMH’s fiscal year.

				

				

			

		

		2.3                      Pool Committee.     During the Pool Term a Pool committee (the “Pool Committee”) may be established by the Board of Directors of PPMH, in its sole and absolute discretion, and be comprised of not less than two independent and non-Pooled Shareholder directors and/or officers of PPMH. The Pool Committee shall have any one or more of the following powers and procedures as may determined by the Board of Directors, from time to time, in its sole and absolute discretion:

			

			

		

		
			(a)     the Pool Committee shall always be comprised of not less than two independent and non-Pooled Shareholder directors and/or officers of PPMH;

				

				

				(b)     the Pool Committee may have the full power, in its sole and absolute discretion, to direct the Pooling Trustee in all matters and to make determinations regarding issues of the Pool, and the Pooling Trustee shall accept all Pool Committee instructions; which instructions shall always be unanimous and signed by all Pool Committee members. However, and subject to paragraph “(c)” immediately hereinbelow, Pool Committee members may not effect any amendment to this Agreement without the prior approval of the Pooled Shareholder received in accordance with section “2.6” hereinbelow;

				

				

				(c)     notwithstanding section “2.6” hereinbelow, the Pool Committee may have the full power to determine, in its sole and absolute discretion, to accelerate any release of Pooled Shares if in its judgment the development of PPMH is such that such release is justified, subject to the Pooled Shareholder hereto not objecting within ten calendar days of notice by the Pool Committee of such intention, and the Pool Committee may, and shall, if requested by the Board of Directors of PPMH, have the full power to determine, in its sole and absolute discretion, to delay any release of Pooled Shares for up to one calendar year if such would be required for the economic necessities of PPMH or if such is requested by a financier of PPMH as a condition of providing

				

				

				

			

			
				

				

				

				-7-

				

				

			

			material financing to PPMH, subject again to the Pooled Shareholder hereto not objecting within ten calendar days of notice by the Pool Committee of such intention; and each of the above determinations by the Pool Committee shall not be deemed to be amendments to the terms and conditions of this Agreement for the purposes of section “2.6” hereinbelow; and

				

				

				(d)     any matters of uncertainty of the Pool Committee’s powers or conducts shall be determined by arbitration in accordance with Article “7” hereinbelow.

				

				

			

		

		2.3                      Voluntary Pool.     The Pooled Shareholder hereby acknowledges that none of the Pooled Shares of PPMH to be delivered to the Pooling Trustee pursuant to section “2.1” hereinabove are being delivered to the Pooling Trustee in response to any terms imposed by any Regulatory Authority having jurisdiction over the affairs of either PPMH or the Pooled Shareholder and that this Agreement has been entered into on a strictly voluntary basis as set forth hereinabove.

			

			

			2.4                      Receipt for Pooled Shares.     The Pooled Shareholder shall be entitled to a letter or receipt from the Pooling Trustee stating the number of Pooled Shares represented by certificates held for the Pooled Shareholder by the Pooling Trustee subject to the terms of this Agreement; but such letter or receipt shall not be assignable.

			

			

			2.5                      No dealing in the Pooled Shares.     Except with the prior written consent of the Parties hereto, the Pooled Shareholder shall not sell, deal in, assign, hypothecate, pledge or transfer in any manner whatsoever or agree to sell, deal in, assign, hypothecate, pledge or transfer in any manner whatsoever any of the said Pooled Shares or beneficial ownership of or any interest in them, other than as set forth under the terms of the Loan Agreement; and the Pooling Trustee shall not accept or acknowledge any transfer, assignment, hypothecation, pledge, declaration of trust or any other document evidencing a change in legal or beneficial ownership of any interest in the Pooled Shares except as may be required by reason of the dissolution or bankruptcy of the Pooled Shareholder, subject to this Agreement for whatsoever person or persons, firm or corporation who may thus become legally entitled thereto. Notwithstanding the foregoing, however, the Pool Committee may permit a transfer for family planning or tax planning purposes so long as the recipient of any Pooled Shares accepts and agrees to be bound by the terms and conditions of this Agreement.

			

			

			2.6                      Binding effect and amendments to the Agreement.     The Pooled Shareholder hereby acknowledges that this Pool has been entered into as a term of the Loan Agreement and, accordingly, that this Agreement is binding for all purposes in consideration of such and that the terms hereof may not be changed without the prior written consent of the Pooled Shareholder.

			

			

			

		

		
			
				

				

				

				-8-

				

				

				Article 3

				APPOINTMENT AND INDEMNITY OF POOLING TRUSTEE

				

				

			

		

		3.1                      Appointment of Pooling Trustee.     The Parties hereto hereby acknowledge and appoint {Pooling Trustee}, of                                                                                            , {registrar and transfer agent for PPMH}, as Pooling Trustee herein, or such other Pooling Trustee as may be mutually determined by the Parties hereto prior to the Effective Date of this Agreement.

			

			

			3.2                      Pooling Share Documents.     During the continuance of this Agreement the Pooled Shareholder hereby agrees that it will execute, deliver, or cause to be delivered, all such documentation as may be required by the requirements of Articles “2” hereinabove (herein, collectively, the “Pooled Share Documents”) and deposit the same with the Pooling Trustee, or with such other mutually agreeable Pooling Trustee, together with a copy of this Agreement, there to be held in trust for release by the Pooling Trustee to the Parties in accordance with the strict terms and provisions of Article “2” hereinabove.

			

			

			3.3                      Resignation of Pooling Trustee.     The Pooling Trustee may resign from its duties and responsibilities if it gives each of the Parties hereto three calendar days’ written notice in advance. Upon receipt of notice of the Pooling Trustee’s intention to resign, the Parties shall, within three calendar days, select a replacement Pooling Trustee and jointly advise the Pooling Trustee in writing to deliver the Pooled Share Documents to the replacement Pooling Trustee. If the Parties fail to agree on a replacement Pooling Trustee within three calendar days of such notice, the replacement Pooling Trustee shall be selected by a Judge of the Supreme Court of the Province of British Columbia upon application by any Party hereto. The Pooling Trustee shall continue to be bound by this Agreement until the replacement Pooling Trustee has been selected and the Pooling Trustee receives and complies with the joint instructions of the Parties to deliver the Pooled Share Documents to the replacement Pooling Trustee. The Parties agree to enter into a pooling agreement substantially in the same form of this Agreement with the replacement Pooling Trustee.

			

			

			3.4                      Instructions to Pooling Trustee.     Instructions given to the Pooling Trustee pursuant to this Agreement shall be given by duly authorized signatories of the respective Parties hereto.

			

			

			3.5                      No other duties or obligations.     The Pooling Trustee shall have no duties or obligations other than those specifically set forth in this Agreement.

			

			

			3.6                      No obligation to take legal action.     The Pooling Trustee shall not be obligated to take any legal action hereunder which might, in its judgment, involve any expense or liability unless it shall have been furnished with a reasonable indemnity by all of the Parties hereto together with such other third parties as the Pooling Trustee may require in its sole and absolute discretion.

			

			

			

		

		
			

			

			

			-9-

			

			

			

		

		3.7                      Not bound to any other agreements.     The Pooling Trustee is not bound in any way by any other contract or agreement between the Parties hereto whether or not it has knowledge thereof or of its terms and conditions and its only duty, liability and responsibility shall be to hold and deal with the Pooled Share Documents as herein directed.

			

			

			3.8                      Notice.     The Pooling Trustee shall be entitled to assume that any notice and evidence received by it pursuant to these instructions from anyone has been duly executed by the Party by whom it purports to have been signed and that the text of any notice and evidence is accurate and the truth. The Pooling Trustee shall not be obliged to inquire into the sufficiency or authority of the text or any signatures appearing on such notice or evidence.

			

			

			3.9                      Indemnity.     The Parties hereto, jointly and severally, covenant and agree to indemnify the Pooling Trustee and to hold it harmless against any loss, liability or expense incurred, without negligence or bad faith on its part, arising out of or in connection with the administration of its duties hereunder including, without limitation, the costs and expenses of defending itself against any claim or liability arising therefrom.

			

			

			3.10                      Not required to take any action     In the event of any disagreement between any of the Parties hereto to these instructions or between them or either or any of them and any other person, resulting in adverse claims or demands being made in connection with the Pooled Share Documents, or in the event that the Pooling Trustee should take action hereunder, it may, at its option, refuse to comply with any claims or demands on it, or refuse to take any other action hereunder, so long as such disagreement continues or such doubt exists, and in any such event, it shall not be or become liable in any way or to any person for its failure or refusal to act, and it shall be entitled to continue so to refrain from acting until:

			

			

		

		
			(a)     the rights of all Parties shall have been fully and finally adjudicated by a court of competent jurisdiction; or

				

				

				(b)     all differences shall have been adjusted and all doubt resolved by agreement among all of the interested persons, and it shall have been notified thereof in writing signed by all such persons.

				

				

			

		

		3.11                      Compensation of Pooling Trustee.     PPMH shall pay the Pooling Trustee for the above-mentioned services and for all services rendered hereinabove and beyond those basic services required to fulfill its obligations hereunder in accordance with the Pooling Trustee’s existing tariff of fees, which tariff is subject to revision from time to time on 30 calendar days’ written notice, during the term of this Agreement, and shall reimburse the Pooling Trustee for all costs and expenses including expert consultant and legal fees and disbursements incurred for the carrying out of its duties hereunder. Any specific costs imposed by the Pooled Shareholder shall be paid by the

			

			

			

		

		
			

			

			

			-10-

			

			

		

		Pooled Shareholder or may be recovered by PPMH and the Pooling Trustee from the Pooled Shareholder or its Share Account if PPMH is required to bear costs or suffers loss by the acts of the Pooled Shareholder.

			

			

		

		
			Article 4

				INDEMNIFICATION AND LEGAL PROCEEDINGS

				

				

			

		

		4.1                      Indemnification.     The Parties hereto hereby each agree to indemnify and save harmless the other Party hereto and including, where applicable, their respective subsidiaries and affiliates and each of their respective directors, officers, employees and agents (each such party being an “Indemnified Party”) harmless from and against any and all losses, claims, actions, suits, proceedings, damages, liabilities or expenses of whatever nature or kind and including, without limitation, any investigation expenses incurred by any Indemnified Party, to which an Indemnified Party may become subject by reason of the terms and conditions of this Agreement.

			

			

			4.2                      No indemnification.     This indemnity will not apply in respect of an Indemnified Party in the event and to the extent that a Court of competent jurisdiction in a final judgment shall determine that the Indemnified Party was grossly negligent or guilty of willful misconduct.

			

			

			4.3                      Claim of indemnification.     The Parties hereto agree to waive any right they might have of first requiring the Indemnified Party to proceed against or enforce any other right, power, remedy, security or claim payment from any other person before claiming this indemnity.

			

			

			4.4                      Notice of claim.     In case any action is brought against an Indemnified Party in respect of which indemnity may be sought against either of the Parties hereto, the Indemnified Party will give both Parties hereto prompt written notice of any such action of which the Indemnified Party has knowledge and the relevant Party will undertake the investigation and defense thereof on behalf of the Indemnified Party, including the prompt employment of counsel acceptable to the Indemnified Party affected and the relevant Party and the payment of all expenses. Failure by the Indemnified Party to so notify shall not relieve the relevant Party of such relevant Party’s obligation of indemnification hereunder unless (and only to the extent that) such failure results in a forfeiture by the relevant Party of substantive rights or defenses.

			

			

			4.5                      Settlement.     No admission of liability and no settlement of any action shall be made without the consent of each of the Parties hereto and the consent of the Indemnified Party affected, such consent not to be unreasonable withheld.

			

			

			

		

		
			

			

			

			-11-

			

			

		

		4.6                      Legal proceedings.     Notwithstanding that the relevant Party will undertake the investigation and defense of any action, an Indemnified Party will have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel will be at the expense of the Indemnified Party unless:

			

			

		

		
			(a)     such counsel has been authorized by the relevant Party;

				

				
(b)     the relevant Party has not assumed the defense of the action within a reasonable period of time after receiving notice of the action;

				

				

				(c)     the named parties to any such action include any Party hereto and the Indemnified Party shall have been advised by counsel that there may be a conflict of interest between any Party hereto and the Indemnified Party; or

				

				

				(d)     there are one or more legal defenses available to the Indemnified Party which are different from or in addition to those available to any Party hereto.

				

				

			

		

		4.7                      Contribution.     If for any reason other than the gross negligence or bad faith of the Indemnified Party being the primary cause of the loss claim, damage, liability, cost or expense, the foregoing indemnification is unavailable to the Indemnified Party or insufficient to hold them harmless, the relevant Party shall contribute to the amount paid or payable by the Indemnified Party as a result of any and all such losses, claim, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the relevant Party on the one hand and the Indemnified Party on the other, but also the relative fault of relevant Party and the Indemnified Party and other equitable considerations which may be relevant. Notwithstanding the foregoing, the relevant Party shall in any event contribute to the amount paid or payable by the Indemnified Party, as a result of the loss, claim, damage, liability, cost or expense (other than a loss, claim, damage, liability, cost or expenses, the primary cause of which is the gross negligence or bad faith of the Indemnified Party), any excess of such amount over the amount of the fees actually received by the Indemnified Party hereunder.

			

			

		

		
			Article 5

				ASSIGNMENT, POWER OF ATTORNEY AND VARIATIONS

				

				

			

		

		5.1                      Assignment.     Save and except as provided herein, no Party hereto may sell, assign, pledge or mortgage or otherwise encumber all or any part of its respective interest herein without the prior written consent of the other Party hereto; provided that either Party hereto may at anytime, and in its sole discretion and without the prior approval of the other Party hereto, assign and transfer its respective interest herein to any wholly owned subsidiary; subject at all times to the requirement that any such subsidiary remain wholly owned by the Party hereto failing which any such interest must be immediately transferred back to such Party hereto; and provided further that

			

			

			

		

		
			

			

			

			-12-

			

			

		

		any transfer of all or any part of a Party’s respective interest herein to its wholly owned subsidiary shall be accompanied by the written agreement of any such subsidiary to assume the obligations of such Party hereunder and to be bound by the terms and conditions hereof.

			

			

		

		5.2                      Power of Attorney on behalf of the Pooled Shareholders.     In order to better provide for the administration and completion of each of the transactions which are contemplated by the terms and conditions of this Agreement, the Pooled Shareholder does hereby make, constitute and appoint such independent and non-Pooled Shareholder director and/or officer of PPMH as the Board of Directors of PPMH may determine, in its sole and absolute discretion, from time to time (the “Attorney”), or such other present or future director or officer of PPMH as the Board of Directors of PPMH may appoint in writing, and in its sole and absolute discretion, in the Attorney’s time(s) of absence, as the Pooled Shareholder’s true and lawful Attorney for the Pooled Shareholder and in the Pooled Shareholder’s name, place and stead and for the sole purpose and power of specifically doing all acts and executing all deeds, resolutions, documents, matters and things and including, without limitation, any agreement supplemental thereto, which may be necessary to be done in the Pooled Shareholder’s place and stead and in order to complete all of transactions on the Pooled Shareholder’s behalf which may be required under the terms and conditions of this Agreement (the “Power of Attorney”). In this regard the within Power of Attorney for the Pooled Shareholder shall be effective from the Effective Date of this Agreement and shall continue in full force and effect until the end of the Pool Term.

			

			

			5.3                      Corrections to be made by Attorney.     Without in any manner whatsoever limiting the Power of Attorney granted to the Attorney by the Pooled Shareholder as set forth immediately hereinabove, the Pooled Shareholder hereby also specifically authorizes the Attorney to correct any errors in and to complete any information missing from this Agreement, together with any and all other documents, resolutions and instruments as may be necessary, in the opinion of Attorney, acting reasonably, to complete all of the transactions contemplated by terms and conditions of this Agreement.

			

			

			5.4                      Variation in the terms of this Agreement upon review.     It is hereby acknowledged and agreed by the Parties hereto that where any variation in the terms and/or conditions of this Agreement is reasonably required by any of the Regulatory Authorities as a condition of their respective regulatory approval, if required, to any of the terms and conditions of this Agreement, any such reasonable variation or variation will be deemed to be accepted by the Parties hereto and form part of the terms and conditions of this Agreement.

			

			

			

		

		
			

			

			

			-13-

			

			

			Article 6

			FORCE MAJEURE

			

			

		

		6.1                      Events.     If either Party hereto is at any time either during this Agreement or thereafter prevented or delayed in complying with any provisions of this Agreement by reason of strikes, walk-outs, labour shortages, power shortages, fires, wars, acts of God, earthquakes, storms, floods, explosions, accidents, protests or demonstrations by environmental lobbyists or native rights groups, delays in transportation, breakdown of machinery, inability to obtain necessary materials in the open market, unavailability of equipment, governmental regulations restricting normal operations, shipping delays or any other reason or reasons beyond the control of that Party, then the time limited for the performance by that Party of its respective obligations hereunder shall be extended by a period of time equal in length to the period of each such prevention or delay.

			

			

			6.2                      Notice.     A Party shall within three calendar days give notice to the other Party of each event of force majeure under section “6.1” hereinabove, and upon cessation of such event shall furnish the other Party with notice of that event together with particulars of the number of days by which the obligations of that Party hereunder have been extended by virtue of such event of force majeure and all preceding events of force majeure.

			

			

		

		
			Article 7

				ARBITRATION

				

				

			

		

		7.1                      Matters for Arbitration.     Except for matters of indemnity or in the case of urgency to prevent material harm to a substantive right or asset, the Parties agree that all questions or matters in dispute with respect to this Agreement shall be submitted to arbitration pursuant to the terms hereof. This provision shall not prejudice a Party from seeking a Court order or assistance to garnish or secure sums or to seek summary remedy for such matters as counsel may consider amenable to summary proceedings.

			

			

			7.2                      Notice.     It shall be a condition precedent to the right of any Party to submit any matter to arbitration pursuant to the provisions hereof that any Party intending to refer any matter to arbitration shall have given not less than five business days’ prior written notice of its intention to do so to the other Parties together with particulars of the matter in dispute. On the expiration of such five business days the Party who gave such notice may proceed to refer the dispute to arbitration as provided for in section “7.3” hereinbelow.

			

			

			7.3                      Appointments.     The Party desiring arbitration shall appoint one arbitrator, and shall notify the other Party of such appointment, and the other Party shall, within five business days after receiving such notice, appoint an arbitrator, and the two arbitrators so named, before proceeding to act, shall, within five business days of the appointment of the last appointed arbitrator, unanimously agree on the appointment of a third arbitrator, to act with them and be chairperson of the arbitration herein provided for. If the other Party shall fail to appoint an arbitrator

			

			

			

		

		
			

			

			

			-14-

			

			

		

		 within five business days after receiving notice of the appointment of the first arbitrator, and if the two arbitrators appointed by the Parties shall be unable to agree on the appointment of the chairperson, the chairperson shall be appointed in accordance with the Arbitration Act. Except as specifically otherwise provided in this section, the arbitration herein provided for shall be conducted in accordance with such Arbitration Act. The chairperson, or in the case where only one arbitrator is appointed, the single arbitrator, shall fix a time and place for the purpose of hearing the evidence and representations of the Parties, and the chairperson shall preside over the arbitration and determine all questions of procedure not provided for by the Arbitration Act or this section. After hearing any evidence and representations that the Parties may submit, the single arbitrator, or the arbitrators, as the case may be, shall make an award and reduce the same to writing, and deliver one copy thereof to each of the Parties. The expense of the arbitration shall be paid as specified in the award.

			

			

			7.4                      Award.     The Parties agree that the award of a majority of the arbitrators, or in the case of a single arbitrator, of such arbitrator, shall be final and binding upon each of them.

			

			

		

		
			Article 8

				GENERAL PROVISIONS

				

				

			

		

		8.1                      Entire Agreement.     This Agreement constitutes the entire agreement to date between the Parties hereto and supersedes every previous agreement, expectation, negotiation, representation or understanding, whether oral or written, express or implied, statutory or otherwise, between the Parties with respect to the subject matter of this Agreement.

			

			

			8.2                      Notice.     Each notice, demand or other communication required or permitted to be given under this Agreement shall be in writing and shall be sent by prepaid registered mail deposited in a recognized post office and addressed to the Party entitled to receive the same, or delivered to such Party, at the address for such Party specified on the front page of this Agreement. The date of receipt of such notice, demand or other communication shall be the date of delivery thereof if delivered, or, if given by registered mail as aforesaid, shall be deemed conclusively to be the third business day after the same shall have been so mailed, except in the case of interruption of postal services for any reason whatsoever, in which case the date of receipt shall be the date on which the notice, demand or other communication is actually received by the addressee. Any Party may at any time and from time to time notify the other Parties in writing of a change of address and the new address to which notice shall be given to it thereafter until further change.

			

			

			8.3                      Time of the essence.     Time will be of the essence of this Agreement.

			

			

		

		8.4                      Enurement.     This Agreement will enure to the benefit of and will be binding upon the Parties hereto and their respective heirs, executors, administrators and assigns.

			

			

			

		

		
			

			

			

			-15-

			

			

		

		8.5                      Further assurances.     The Parties will from time to time after the execution of this Agreement make, do, execute or cause or permit to be made, done or executed, all such further and other acts, deeds, things, devices and assurances in law whatsoever as may be required to carry out the true intention and to give full force and effect to this Agreement.

			

			

			8.6                      Representation and costs.     It is hereby acknowledged by each of the Parties hereto that Devlin Jensen, Barristers and Solicitors, acts solely for PPMH, and, correspondingly, that the Pooled Shareholder and the Pooling Trustee have been required by PPMH to obtain independent legal advice with respect to their respective reviews and execution of this Agreement. In addition, it is hereby further acknowledged and agreed by the Parties hereto that Devlin Jensen, Barristers and Solicitors, and certain or all of its principal owners or associates, from time to time, may have both an economic or shareholding interest in and to PPMH and/or a fiduciary duty to the same arising from either a directorship, officership or similar relationship arising out of the request of PPMH for certain of such persons to act in a similar capacity while acting for PPMH as counsel. Correspondingly, and even where, as a result of this Agreement, the consent of each Party hereto to the role and capacity of Devlin Jensen, Barristers and Solicitors, and its principal owners and associates, as the case may be, is deemed to have been received, where any conflict or perceived conflict may arise, or be seen to arise, as a result of any such capacity or representation, each Party hereto acknowledges and agrees to, once more, obtain independent legal advice in respect of any such conflict or perceived conflict and, consequent thereon, Devlin Jensen, Barristers and Solicitors, together with any such principal owners or associates, as the case may be, shall be at liberty at any time to resign any such position if it or any Party hereto is in any way affected or uncomfortable with any such capacity or representation. Each Party to this Agreement will also bear and pay its own costs, legal and otherwise, in connection with its respective preparation, review and execution of this Agreement and, in particular, that the costs involved in the preparation of this Agreement, and all documentation necessarily incidental thereto, by Devlin Jensen, Barristers and Solicitors, shall be at the cost of PPMH.

			

			

			8.7                      Applicable law.     The situs of this Agreement is Toronto, Ontario, and for all purposes this Agreement will be governed exclusively by and construed and enforced in accordance with the laws and Courts prevailing in the Province of Ontario, Canada, and the federal laws of Canada applicable therein.

			

			

			8.8                      Severability and construction.     Each Article, section, paragraph, term and provision of this Agreement, and any portion thereof, shall be considered severable, and if, for any reason, any portion of this Agreement is determined to be invalid, contrary to or in conflict with any applicable present or future law, rule or regulation in a final unappealable ruling issued by any court, agency or tribunal with valid jurisdiction in a proceeding to which any Party hereto is a party, that ruling shall not impair the operation of, or have any other effect upon, such other portions of this Agreement as may remain otherwise intelligible (all of which shall remain binding on the Parties and continue to be given full force and effect as of the date upon which the ruling becomes final).

			

			

			

		

		
			

			

			

			-16-

			

			

		

		8.9                      Captions.     The captions, section numbers and Article numbers appearing in this Agreement are inserted for convenience of reference only and shall in no way define, limit, construe or describe the scope or intent of this Agreement nor in any way affect this Agreement.

			

			

			8.10                      Counterparts.     This Agreement may be signed by the Parties hereto in as many counterparts as may be necessary, and via facsimile if necessary, each of which so signed being deemed to be an original and such counterparts together constituting one and the same instrument and, notwithstanding the date of execution, being deemed to bear the Effective Date as set forth on the front page of this Agreement.

			

			

			8.11                      No partnership or agency.     The Parties have not created a partnership and nothing contained in this Agreement shall in any manner whatsoever constitute any Party the partner, agent or legal representative of the other Parties, nor create any fiduciary relationship between them for any purpose whatsoever.

			

			

			8.12                      Consents and waivers.     No consent or waiver expressed or implied by either Party in respect of any breach or default by the other in the performance by such other of its obligations hereunder shall:

			

			

		

		
			(a)     be valid unless it is in writing and stated to be a consent or waiver pursuant to this section;

				

				

				(b)     be relied upon as a consent to or waiver of any other breach or default of the same or any other obligation;

				

				

				(c)     constitute a general waiver under this Agreement; or

				

				

				(d)     eliminate or modify the need for a specific consent or waiver pursuant to this section in any other or subsequent instance.

			

		

		

			

			

			

			

			

			

			

			

			

			

			

		

		
			

			

			

			-17-

			

			

		

		                           IN WITNESS WHEREOF the Parties hereto have hereunto set their respective hands and seals as at the Effective Date as hereinabove determined.

			

			

			The COMMON SEAL of                               )

			PURE PLAY MEDIA HOLDINGS, INC., )

			the Company herein,                                        )
                                                                       )                              (C/S)
                                                                       )

			/s/ Richard Arnold                                           )
Authorized Signatory                                       )

			

			
The COMMON SEAL of                               )

			{POOLING TRUSTEE},                             )
the Pooling Trustee herein,                               )
                                                                       )                               (C/S)
                                                                       )

			                                                                       )
Authorized Signatory                                       )

			

			
The COMMON SEAL of                               )                No. of Pooled Shares:                         

			PILLSBURY HOLDINGS, INC.                 )
a Pooled Shareholder herein,                            )
                                                                        )                               (C/S)
                                                                        )

			/s/ Souren Agemian                                          )
Authorized Signatory                                        )

			

			

		

		
			__________

				

				

				

				

				

				

			

		

		

		

			

			

			

		

		
			Schedule A

				

				

				

			

		

		                           This is Schedule “A” to that certain Pooling Agreement respecting the Pooled Shareholder of PPMH, PPMH and the Pooling Trustee.

			

			

		

		
			Pooled Shareholder and Pooled Shares

				

			

				
						
							Registered Name and Address

									of Pooled Shareholder

						
						
							Number of Pooled Shares

									 originally held in Pool

								

						
						
							Purchase Price

									Per Pooled Share

								

					
	
						
							Pillsbury Holdings, Inc.

								Suite 4, Temple Building

							Prince William & Main St.

							Charlestown, Nevis, W.I. 

						
						
							929,583

							Pooled Shares

						
						
							
							US$1.50

					

			__________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}]]