Document:

Unassociated Document

    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

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Cryptometrics,
          Inc.

        March
          31, 2008

        Page
          -2-

      

      
        

      

    

     

    
      	 	
              (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]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Cryptometrics,
          Inc.

        March
          31, 2008

        Page
          -3-

      

      
        

      

    

    

    
      	
              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, 2008Unassociated Document

    

    JAG
      MEDIA HOLDINGS, INC.

    6865
      S.W. 18TH
      STREET, SUITE B13

    BOCA
      RATON, FL 33433

    

    

    

    

    March
      27,
      2008

    

    YA
      Global
      Investments, L.P.

    101
      Hudson Street

    Suite
      3700

    Jersey
      City, NJ 07302

    

    
      	
              Re:

            	
              Letter
                Agreement between YA Global Investments, L.P. (“YA Global”) and JAG Media
                Holdings, Inc. (“JAG Media”) dated January 31, 2008, as amended by letter
                agreement between YA Global and JAG Media dated March 11, 2008 (“YA Global
                Agreement”).

            

    

    

    Gentlemen:

    

    This
      will
      confirm our understanding that the terms and conditions of the YA Global
      Agreement are hereby amended as set forth below.

    

    1. The
      automatic termination date set forth in paragraph 8 of the YA Global Agreement
      is hereby changed from March 31, 2008 to April 8, 2008.

    

    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. 

    

    
      	
              Sincerely
                yours,

              JAG
                Media Holdings, Inc.

               

               

               

              By:
                /s/ Thomas J.
                Mazzarisi                                          
                

                    
                Name: Thomas J. Mazzarisi

                    
                Title: Chairman & CEO

                    
                Date: March 27, 2008

            	
               

              AGREED
                AND ACCEPTED:

              YA
                Global Investments, L.P. (formerly, Cornell Capital Partners,
                L.P.)

               

              By:
                Yorkville Advisors, LLC

              Its:
                Investment Manager

               

               

              By:
                 /s/ Mark
                Angelo                                                  
                

                      Name:
                Mark Angelo

                    
                Date: March 27, 2008

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