COMPOSITION OF DEBT THIS COMPOSITION is made the day of January 2011 BETWEEN: (1) John O'Sullivan of Apartment 4b, 2072 8th Avenue, New York, 10062, USA ("the Creditor") (2) H.R.H. The Duchess of York of The Royal Lodge, Windsor ("the Debtor") WHEREAS The Debtor is indebted to the Creditor in the sum of $126,721 for services supplied ("the Debt") and the Creditor has agreed with the Debtor for the composition and immediate release in full of the Debt and all other debts, if any, owed by the Debtor to the Creditor upon payment of $31,680 ("the Composition Payment") to the Creditor by the Debtor. NOW THIS DEED WITNFSSES AS FOLLOWS: 1. The Debtor covenants with the Creditor that within 28 days of the date hereof the Composition Payment shall be paid to the Creditor. 2. The Creditor covenants with the Debtor that in consideration of the Composition Payment being made the Creditor releases and discharges the Debtor from all, claims, demands, proceedings or any other actions whatsoever in respect of the Debt and all other debts, if any, owed by the Debtor to the Creditor. 3. The Creditor acknowledges that references to Debt or all other debts includes all liabilities whether present or future, whether it is certain or contingent or EFTA00666476