EXHIBIT 10.21
Magenta New Media Limited
Suite 5.18, 130 Shaftesbury Avenue
London, W1D 5EU. United Kingdom
Dated: 28thDecember 2006
FOR THE FISCAL YEAR ENDING 30TH SEPTEMBER 2006
I, Nathan Amery, the Managing Director of Magenta New Limited, agreed to reduce my monthlyNETsalary to £1,000 as of 1stJuly 2006.
The below table summarises the gross and net amounts I received during this fiscal year.
| Gross | Net | |
| Oct-05 | £2,875.00 | £2,036.92 |
| Nov-05 | £2,875.00 | £2,036.91 |
| Dec-05 | £2,875.00 | £2,037.12 |
| Jan-06 | £2,875.00 | £2,036.92 |
| Feb-06 | £2,875.00 | £2,036.91 |
| Mar-06 | £2,875.00 | £2,210.90 |
| Apr-06 | £2,875.00 | £2,355.81 |
| May-06 | £2,875.00 | £2,278.35 |
| Jun-06 | £2,020.55 | £1,467.78 |
| Jul-06 | £1,322.64 | £1,000.00 |
| Aug-06 | £1,322.40 | £1,000.00 |
| Sep-06 | £1,322.67 | £1,000.00 |
| £28,988.26 | £21,497.62 |
This reduction was due to a number of factors, primarily there being insufficient funds in the company.
The forgone wages are not to be reimbursed nor is any compensation to be received.
There is no further obligation by the Company or any company it is owned by or has any association with, to pay me any further amounts for the fiscal year ending 30thSeptember 2006.
I accept that the above summary is true, and that this letter supercedes any previous agreement between myself and the company.
Signed:/s/ Nathan Amery (Nathan Amery)
Dated:December 28, 2006
