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                                                                   EXHIBIT 10.22


                          MASTER DEVELOPMENT AGREEMENT

This Agreement, entered into as of April 10th, 2000 (hereinafter "Effective
Date") by and between T/R SYSTEMS, INC., a Georgia, U.S.A. corporation having
its principal place of business at 1300 Oakbrook Drive, Norcross, Georgia,
U.S.A. 30093 (hereinafter "T/R"), and MINOLTA CO., LTD., a Japanese corporation
having its principal place of business at 3-13, 2-Chome, Azuchi-Machi, Chuo-Ku,
Osaka 541-8556, JAPAN (hereinafter "MINOLTA");

                                WITNESSETH THAT:

WHEREAS, T/R has designed and developed, and currently assembles, distributes
and sells a proprietary commercial printing system known as the MicroPress.

WHEREAS, T/R has designed and developed, and distributes and sells other
products known as MicroImager and e-Ticket.

WHEREAS, T/R will design and develop, and distribute and sell other products in
the future.

WHEREAS, T/R has proprietary skills, know-how, technology, inclusive of trade
secrets and other know-how, and patent rights applicable to the product
architecture, development, design, assembly, manufacturing, connectivity,
production and distribution of these products.

WHEREAS, MINOLTA and T/R developed the connectivity software and hardware so as
to permit MINOLTA print devices ([ * ]) to connect to and be controlled by the
MicroPress commercial printing system, the distribution terms of which are
governed by a Supply Agreement dated January 28, 1999 by and between T/R and
MINOLTA.

WHEREAS, MINOLTA desires for T/R to develop such connectivity software and
hardware so as to permit MINOLTA's products to connect to and be controlled by
the MicroPress commercial printing system.

WHEREAS, MINOLTA may desire for T/R to develop value-added software and/or
hardware in the future for MINOLTA's products.

NOW THEREFORE, in consideration of mutual covenants set forth herein, the
parties hereto agree as follows:

1.       DEFINITIONS

1.1      "ACCEPTANCE CRITERIA" shall mean a test document as to T/R
         DELIVERABLES, which is determined by both parties separately from an
         applicable ADDENDUM.

1.2      "ADDENDUM" shall mean a document which sets forth modifications to this
         Agreement including details regarding a PROJECT.

1.3      "AFFILIATE" shall mean a corporation, company or other entity that,
         directly or indirectly, through one or more intermediaries, controls,
         is controlled by, or is under common control


* Confidential information has been omitted and filed separately with the
Commission.

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         with a party hereto, but only for so long as such relationship exists.
         For the purposes of this definition, "control" shall mean ownership of
         equal to or greater than 50% of the shares entitled to vote or
         equivalent voting rights.

1.4      "CONFIDENTIAL INFORMATION" shall mean all written information which is
         clearly marked "Confidential" and any tangible materials which are
         marked as being confidential or otherwise identified as confidential in
         writing, provided however that the following information shall not be
         deemed CONFIDENTIAL INFORMATION and the receiving party shall have no
         obligation with respect to such information.

         (1)      Information which is already in the possession of the
                  receiving party at the time of disclosure; or

         (2)      Information which is already available to the public or to
                  industry at the time of disclosure; or

         (3)      Information which becomes available to the public or to
                  industry without fault of the receiving party; or

         (4)      Information which is subsequently rightfully received by the
                  receiving party from a third party without notice of
                  restriction on further disclosure, or which the receiving
                  party is authorized to disclose with the disclosing party's
                  prior written consent; or

         (5)      Information which is disclosed to a third party by the
                  disclosing party without similar restriction on such third
                  party; or

         (6)      Information which has been independently developed by the
                  receiving party without reference to CONFIDENTIAL INFORMATION;
                  or

         (7)      Information which is disclosed in the course of marketing or
                  use of MINOLTA's printing system using T/R DELIVERABLES; or

         (8)      Information which is required to be disclosed by legal
                  proceedings by governmental agency or by law, provided that
                  such disclosure does not authorize disclosure of the
                  information to any other party.

1.5      "MINOLTA DELIVERABLES" shall mean any materials provided by MINOLTA to
         T/R under an applicable ADDENDUM, including without limitation
         MINOLTA's products and related documentation.

1.6      "PRODUCT" shall mean connectivity software and/or hardware so as to
         permit MINOLTA's products identified in an ADDENDUM to connect to and
         be controlled by the MicroPress commercial printing system.

1.7      "PRODUCT SPECIFICATION" shall mean a specification, attached to an
         ADDENDUM, which provides requirements for PRODUCT, development effort,
         and T/R DELIVERABLES.

1.8      "PROJECT" shall mean each specific development work performed by T/R in
         accordance with an applicable ADDENDUM, as determined by T/R and
         MINOLTA and set forth in an ADDENDUM.

1.9      "PROJECT SCHEDULE" shall mean the development and delivery schedule for
         any Project as set forth in the applicable ADDENDUM.



* Confidential information has been omitted and filed separately with the
Commission.

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1.10     "RESULT" shall mean all proprietary and/or intellectual property rights
         resulting or derived from PROJECT.

1.11     "T/R DELIVERABLES" shall mean any materials, including intermediate
         deliverables and final deliverables, to be delivered by T/R to MINOLTA
         pursuant to an applicable ADDENDUM.

1.12     "PACKED BIT COMPRESSION" shall mean proprietary software technology
         designed, developed, and owned by T/R.

2.       AGREEMENT STRUCTURE
         The terms and conditions of this Agreement and those contained in one
         or more PROJECTS hereto, which are incorporated herein by reference,
         shall constitute the development agreement for the PROJECTS specified
         in ADDENDUM hereto.

3.       PROCEDURE RELATING TO ADDENDUM
         In the event that MINOLTA desires to develop PRODUCT, the parties shall
         work together to develop an ADDENDUM for each PROJECT before
         commencement of development work on such PROJECT. The ADDENDUM shall
         include PRODUCT SPECIFICATION, ACCEPTANCE CRITERIA, PROJECT SCHEDULE,
         Payment, Payment Schedule, Specification of MINOLTA's products, MINOLTA
         DELIVERABLES, T/R DELIVERABLES and other such items as are relevant to
         the PROJECT. No ADDENDUM shall be deemed binding until accepted by T/R.

4.       PERFORMANCE OF PROJECTS
4.1      PROJECTS shall be implemented through ADDENDUM executed by the parties
         and incorporated by reference herein. T/R shall agree to perform the
         development work as described in each ADDENDUM, in accordance with the
         terms of this Agreement and such ADDENDUM.

4.2      T/R shall not entrust all or any part of PROJECT to any third party
         without the prior written consent of MINOLTA.

4.3      T/R shall deliver T/R DELIVERABLES to MINOLTA in accordance with the
         PROJECT SCHEDULE.

4.4      During the term of each ADDENDUM, T/R shall provide MINOLTA with status
         reports summarizing the progress of PROJECT upon MINOLTA's request.
         MINOLTA shall provide T/R for the entire development period and
         thereafter for each PROJECT the number of units of MINOLTA DELIVERABLES
         set forth in the applicable ADDENDUM, and T/R may use and modify the
         MINOLTA DELIVERABLES for the purposes described in this Agreement and
         applicable ADDENDUM. T/R shall not lend, transfer, sublicense,
         encumber, pledge or assign the MINOLTA DELIVERABLES hereunder. T/R
         shall not move any MINOLTA DELIVERABLES outside the United States
         without prior written consent of MINOLTA. MINOLTA shall supply such
         technical support (including repair service) for the MINOLTA's


* Confidential information has been omitted and filed separately with the
Commission.

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         products as T/R may require for its timely and successful completion of
         the PROJECT. T/R shall promptly destroy MINOLTA DELIVERABLES upon
         MINOLTA's request if project is terminated.

4.5      If MINOLTA requests changes to any PROJECT, including without
         limitation PRODUCT SPECIFICATIONS, or requests any additional services,
         T/R and MINOLTA shall negotiate the conditions of such changes in good
         faith.


5.       ACCEPTANCE PROCEDURE

5.1      Within [ * ] days from the receipt of T/R DELIVERABLES, MINOLTA shall
         conduct acceptance testing in accordance with the ACCEPTANCE CRITERIA
         to decide whether T/R DELIVERABLES conform with PRODUCT SPECIFICATIONS.
         If T/R DELIVERABLES fails to conform with PRODUCT SPECIFICATION under
         such acceptance test procedures, MINOLTA will inform T/R of such result
         and T/R shall revise the T/R DELIVERABLES at its cost and liability and
         provide MINOLTA with such revised T/R DELIVERABLES within [ * ] days
         whereupon MINOLTA shall have a further period of [ * ] days to test and
         either accept or reject same.

5.2      Upon satisfactory completion of acceptance testing provided herein,
         MINOLTA shall send T/R a written notice informing of MINOLTA's
         acceptance of T/R DELIVERABLES.

5.3      If MINOLTA fails to provide T/R with a notice of either acceptance or
         rejection of T/R DELIVERABLES within the time period stipulated in
         Paragraph 5.1, T/R DELIVERABLES shall be deemed to be accepted by
         MINOLTA.

5.4      T/R and MINOLTA agree that PROJECT will be terminated at the time when
         all T/R DELIVERABLES set forth in an applicable ADDENDUM are accepted
         (hereinafter called "FINAL ACCEPTANCE").

6.       PAYMENT

6.1      The fees payable to T/R, and the payment schedule for such fees for
         each PROJECT, shall be set forth in an ADDENDUM. MINOLTA shall pay such
         fees to T/R in accordance with this Agreement and such ADDENDUM.

6.2      Any payment provided herein shall be made in U.S. Dollars by wire
         transfer to the bank account T/R shall designate in writing to MINOLTA.
         Late payments shall be subject to a late charge of the lesser of the
         maximum monthly interest allowed by applicable law or [ * ] per month.

6.3      The transportation of materials by T/R for PROJECT and acceptance
         testing, including, but not limited to T/R DELIVERABLES, shall be
         arranged by T/R. All shipping, customs, insurance and similar costs of
         transportation for delivery of the T/R DELIVERABLES shall be T/R's full
         responsibility unless such charges are unreasonably expensive.


* Confidential information has been omitted and filed separately with the
Commission.

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6.4      In the event that MINOLTA is required to withhold taxes imposed upon
         T/R for any payment under this Agreement and the ADDENDUM by virtue of
         any statutes, laws, codes, or government regulations, then such
         payments will be made by MINOLTA and deducted from MINOLTA's payment
         obligations under this Agreement; provided, however, that MINOLTA will
         obtain and furnish T/R with official tax receipts or other evidence of
         payment issued by the respective tax authority sufficient for T/R to
         establish payment of such taxes in support of a claim for a credit
         against T/R's U.S. tax liability.

7.       THE RESULT OF THE DEVELOPMENT WORK

7.1      T/R and MINOLTA agree RESULTS in relation to T/R DELIVERABLES shall
         belong to MINOLTA and other RESULTS shall belong to T/R.
         Notwithstanding the above, the parties shall retain their respective
         rights to any technologies, intellectual property rights and know-how
         which be owned solely prior to this Agreement.

7.2      If MINOLTA or T/R intend to file applications for registration of
         intellectual property regarding their respective RESULTS, each shall
         cooperate with the filing party for such filing and registration,
         including the furnishing of necessary information, upon the filing
         party's request.

8.       WARRANTY

8.1      T/R warrants that T/R DELIVERABLES will substantially conform with
         PRODUCT SPECIFICATION.

8.2      T/R warrants that T/R DELIVERABLES and T/R's PACKED BIT COMPRESSION
         will not cause any infringement upon any rights and/or intellectual
         property rights of any third parties.

8.3      Each party represents and warrants to the other party that to the best
         of its knowledge and belief, a. it has the right and power to enter
         into this Agreement; and b. it has the right to disclose the
         information which it discloses hereunder; and c. there are no
         outstanding assignments, granted licenses, encumbrances, obligations or
         agreements to which it is a party or by which it is bound, which are
         inconsistent with this Agreement.

9.       FURNISHMENT

9.1      In the event that MINOLTA, at its sole discretion, desires to entrust
         T/R with the manufacture of PRODUCT, T/R shall accept such entrusted
         manufacture and manufacture PRODUCT on mutually agreed terms and
         conditions, which terms and conditions shall be documented in a
         separate agreement.

9.2      Notwithstanding Paragraph 9.1, MINOLTA, for the reason of T/R's
         rejection of such manufacture, desires to manufacture and have
         manufactured such PRODUCT, T/R shall grant a necessary license and make
         necessary arrangements, including providing technical assistance, on
         mutually agreed terms and conditions, which terms and conditions shall
         be documented in a separate agreement, so that MINOLTA can manufacture,
         have manufactured, use, sell, rent, lease, distribute and dispose such
         PRODUCT.


* Confidential information has been omitted and filed separately with the
Commission.

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9.3      In the event that MINOLTA, at its sole discretion, desires to
         manufacture and have manufactured all or partial PRODUCT, T/R shall
         grant a necessary license and make necessary arrangements, including
         providing technical assistance, on mutually agreed terms and
         conditions, which terms and conditions shall be documented in a
         separate agreement, so that MINOLTA can manufacture, have manufactured,
         use, sell, rent, lease, distribute and dispose such PRODUCT.

10.      LICENSE

10.1     T/R shall grant MINOLTA a perpetual non-exclusive, worldwide, fully
         paid up, royalty free, unrestricted license to the RESULT belonging to
         T/R in accordance with Paragraph 7.1 hereof. MINOLTA shall have the
         right to grant sublicenses to third parties regarding the license
         granted under paragraph 10.1 hereof.

10.2     T/R shall grants MINOLTA and MINOLTA's AFFILIATES a personal,
         non-transferable, limited, royalty-free license to (a) internally use,
         copy and modify T/R's PACKED BIT COMPRESSION, (b) to manufacture and
         have manufactured all or any part of MINOLTA's products that
         incorporate T/R's PACKED BIT COMPRESSION and T/R's PACKED BIT
         COMPRESSION modified by MINOLTA, and (c) to sell, rent, lease,
         distribute and otherwise dispose MINOLTA's products that incorporate
         T/R's PACKED BIT COMPRESSION and T/R's PACKED BIT COMPRESSION
         modified by MINOLTA in connection with the T/R's products.

10.3     Except as expressly provided under this Agreement, no license or rights
         to any intellectual property or CONFIDENTIAL INFORMATION is granted by
         either party to the other.

11.      INDEPENDENT DEVELOPMENT
         Nothing in this Agreement shall preclude either party from
         independently developing, acquiring or marketing materials which are
         not derivative of T/R DELIVERABLES, but which contain ideas and
         concepts similar to those in the T/R DELIVERABLES.

12.      SALE
         MINOLTA shall have the exclusive sales right in respect of those T/R
         DELIVERABLES indicated as "Exclusive" on Exhibit C and such T/R
         DELIVERABLES modified by T/R, however nothing contained herein will
         provide MINOLTA with any exclusive right to similar devices which do
         not include any RESULT.

13.      STATUS OF AFFILIATE
         In procuring development services and other items from T/R pursuant to
         this Agreement, MINOLTA will act on its own behalf or as agent for, and
         for the benefit of, certain identified MINOLTA's AFFILIATES. MINOLTA
         represents and warrants to T/R that MINOLTA is authorized and empowered
         to enter into this Agreement and any applicable ADDENDUM on behalf of
         any such MINOLTA's AFFILIATES. Each of MINOLTA's AFFILIATES
         participating in any activities or receiving any services or other
         items under this Agreement and any applicable ADDENDUM shall be deemed
         to have approved and accepted the terms of this Agreement and such
         ADDENDUM and shall be legally bound to the terms of this


* Confidential information has been omitted and filed separately with the
Commission.

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         Agreement and such ADDENDUM to the same extent as if such party was a
         signatory to this Agreement and such ADDENDUM. MINOLTA shall be
         responsible for any breach of this Agreement or such ADDENDUM by such
         MINOLTA's AFFILIATES.

14.      INDEMNIFICATION

14.1     T/R agrees to indemnify, hold harmless and defend MINOLTA from and
         against any and all damages, costs and expenses, including reasonable
         attorneys' fees, incurred in connection with any breach by T/R of the
         terms of ADDENDUM and this Agreement. IN NO EVENT SHALL T/R BE LIABLE
         FOR ANY LOSS OF PROFIT OR ANY OTHER COMMERCIAL DAMAGE, INCLUDING BUT
         NOT LIMITED TO SPECIAL, INCIDENTAL, CONSEQUENTIAL OR OTHER INDIRECT
         DAMAGES UNDER ANY CAUSE OF ACTION ARISING OUT OF OR RELATING TO THIS
         PARAGRAPH 14.1, INCLUDING, WITHOUT LIMITATION, CLAIMS ARISING FROM
         MALFUNCTION OR DEFECTS IN T/R DELIVERABLES OR NON-DELIVERY, EVEN IF T/R
         HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

14.2     T/R agrees to indemnify, hold harmless and defend MINOLTA from and
         against any and all damages, costs and expenses, including reasonable
         attorneys' fees, incurred in connection with any third party's claim
         that T/R DELIVERABLES and T/R's PACKED BIT COMPRESSION infringes any
         rights, including without limitation any intellectual property rights,
         of such third party.

15.      CONFIDENTIALITY

15.1     T/R and MINOLTA shall disclose the necessary information for PROJECT to
         the other party upon reasonable request or at their own discretion.

15.2     Each party agrees to keep CONFIDENTIAL INFORMATION received from the
         other party pursuant to this Agreement strictly secret and confidential
         for three (3) years from the date of disclosure of such CONFIDENTIAL
         INFORMATION, except as disclosure of such information is expressly
         permitted by this Agreement.

15.3     T/R shall not announce all or any part of RESULTS to any third parties
         without prior notification to MINOLTA, unless required by law or
         disclosure requirements of the United States Securities and Exchange
         Commission. MINOLTA shall not announce all or any part of RESULTS to
         any third parties without prior notification to T/R.

16.      TERM AND TERMINATION

16.1     The term of this Agreement shall begin on the Effective date of this
         Agreement identified in the above and shall continue in effect for
         three (3) years thereafter, unless this Agreement earlier is terminated
         pursuant to Paragraph 16.2 or 16.3 hereof. Thereafter it shall
         automatically renew for one-year terms unless either party gives the
         other party notice of its desire not to renew this Agreement at least
         three (3) months prior to the expiration of the original or extended
         term of this Agreement. Notwithstanding the foregoing, should any
         ADDENDUM be ongoing at the time of such notice and such ADDENDUM would
         be affected by proposed termination, the parties shall agree on an
         appropriate length of time necessary to extend the term of this
         Agreement for the specific purpose of completing such ADDENDUM.


* Confidential information has been omitted and filed separately with the
Commission.

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16.2     Notwithstanding Paragraph 16.1, in case of a material breach of this
         Agreement by either party, the other party shall have the right to
         terminate this Agreement upon thirty (30) days written notice
         specifying the breach, if the breach is not cured by the breaching
         party within such thirty (30) day period.

16.3     Notwithstanding Paragraph 16.1, if either party ceases doing business
         in the normal course, becomes insolvent, makes a general assignment for
         the benefit of creditors, or if any proceedings are commenced under any
         bankruptcy or insolvency law with respect to the party which are not
         dismissed within thirty (30) days after commencement, the other party
         may terminate this Agreement and the ADDENDUM upon (10) days written
         notice to the party.

16.4     Notwithstanding any other provisions of this Agreement, the provisions
         of Paragraph 1 and 7-26 shall survive any termination or expiration of
         this Agreement.

17.      NO ASSUMPTION OR IMPLICATION
         No obligation is assumed or implied against either party except for
         that clearly stated herein.

18.      APPLICABLE LAW
         This Agreement shall be governed by and construed in accordance with
         the laws of the State of Georgia, United States of America.

19.      ARBITRATION

19.1     Any disputes, controversies or differences which may arise between both
         parties, out of, in relation to or in connection with this Agreement,
         or the breach thereof, shall be amicably and promptly settled upon
         consultation between both parties.

19.2     In case that the amicable settlement is not reached within thirty (30)
         days after commencing consultation as provided in the proceeding
         subparagraph, the dispute controversy or difference shall be settled by
         arbitration in the country in which is located the principle office of
         the respondent party, in accordance with the appropriate Arbitration
         Rules in such country, without being submitted to general court in such
         country. The award rendered by the arbitrators shall be final and
         binding upon the parties hereto.

20.      FORCE MAJEURE
         In the event non-fulfillment or delayed performance of all or any part
         of this Agreement, due directly or indirectly to any Act of God,
         government orders, rules or restrictions, fire, flood, war, strikes or
         labor disputes, or any other casualties beyond the control of either
         party, both parties shall negotiate to take corrective measures.

21.      NOTICES

21.1     All notices required or permitted hereunder shall be in writing and
         shall be effective upon personal delivery or when mailed by express
         mail service such as UPS, Federal Express, DHL, or equivalent, postage
         fully prepaid, and addressed to the respective party as


* Confidential information has been omitted and filed separately with the
Commission.

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         designated in Paragraph 20.2 or Paragraph 20.3. Any notice that is
         transmitted via mail may also be transmitted via fax prior to mailing,
         if convenient for both parties.

21.2     Notices from MINOLTA to T/R shall be addressed as follows:

                          Attention: President and CEO
                                T/R SYSTEMS, INC.
                               1300 Oakbrook Drive
                         Norcross, Georgia U.S.A. 30093
                                fax: 770-448-3202

21.3     Notices from T/R to MINOLTA shall be addressed as follows:

                            Attention: Senior Manager
                            System Development Center
                                Minolta Co. Ltd.
                                  Tokyo office
                NS Takanawa Bldg., 2-19-13, Takanawa, Minato-Ku,
                              Tokyo 108-8608, Japan
                               fax: 81-3-5423-7593

21.4     Either party may change its address for the purpose of notices by
         giving notice in writing to the other party.

22.      COMPLIANCE WITH LAWS
         Each party agrees to comply with all applicable laws and regulations,
         including without limitation those relating to export and re-export,
         relating to its performance hereunder and the exercise of any of its
         rights relating to this Agreement. Each party agrees to indemnify and
         hold the other party harmless from and against all claims, liability,
         expenses (including attorneys' fees) and/or damages arising from its
         own non-compliance with any such law or any regulation issued under
         such law.

23.      ENTIRE AGREEMENT
         This Agreement and the ADDENDUM constitute the entire, final agreement
         between the parties hereto with respect to the subject matter hereof,
         and supersede all prior agreements and understandings, oral or written,
         between the parties hereto, and there are no representations,
         understandings or agreements relative hereto which are not fully
         expressed herein. In the event that this Agreement conflicts with the
         SUPPLY AGREEMENT, the terms of the SUPPLY AGREEMENT shall prevail.

24.      AMENDMENT & WAIVER
         No failure or delay in exercising any provision of this Agreement shall
         constitute a waiver of such provision or any other provision hereof.
         Neither this Agreement nor any provision hereof may be released,
         discharged, waived, abandoned, or modified in any manner, except by an
         instrument in writing, signed by duly authorized officers or
         representatives of both parties, specifically referencing this
         Agreement.


* Confidential information has been omitted and filed separately with the
Commission.

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25.      RELATIONSHIP OF PARTIES
         This Agreement does not constitute a partnership, joint venture, or
         agency between the parties hereto, nor shall either of the parties hold
         itself out as such, contrary to the terms hereof by advertising or
         otherwise, nor shall either of the parties be bound or become liable
         because of any representation, action or omission of the other. Nothing
         in this Agreement shall be construed as a representation or inference
         that the parties' relationship hereunder is or shall become exclusive
         with regards to any term contained herein.

26.      SEVERABILITY
         If any term, provision, covenant or condition of this Agreement is
         declared or found to be illegal, invalid, void or unenforceable, the
         rest of this Agreement shall remain in effect and shall in no way be
         affected, impaired or invalidated.


* Confidential information has been omitted and filed separately with the
Commission.

<PAGE>   11

IN WITNESS WHEREOF, the parties have executed this Agreement by their authorized
representatives as of the day and year first above written.


T/R SYSTEMS INC.                      MINOLTA CO., LTD.


  /s/ Michael E. Kohlsdorf              /s/ Yoshisuke Takekida
-----------------------------         ---------------------------------
(signed)                              (signed)

Michael E. Kohlsdorf                  Yoshisuke Takekida
-----------------------------         ---------------------------------
(printed name)                        (printed name)

                                      General Manager
President and CEO                     Systems Development Center
-----------------------------         ---------------------------------
(title)                               (title)

  Jan. 31, 2001                         Jan. 29, 2001
-----------------------------         ---------------------------------
(date)                                (date)



* Confidential information has been omitted and filed separately with the
Commission.