Unassociated Document


    
      
        	
                IP
      RIGHTS TRANSFER AGREEMENT

              


      

       

       

    

    INTELLECTUAL
PROPERTY RIGHTS TRANSFER AGREEMENT

    


    


    concluded
by and between

    


    


    Octavian
International Limited

    Company
No. 04185988

    Bury
House

    1-3 Bury
Street

    Guildford
Surrey GU2 4AW

    United
Kingdom

    


    hereinafter
referred to as "Octavian"

    


    and

    


    Ziria
Enterprises Ltd.

    319,
28th
October Street

    Kanika
Business Centre

    2nd
Floor

    Limassol

    Cyprus

    


    hereinafter
referred to as "Ziria"

    


    and

    


    Harmen
Brenninkmeijer

    born 23
January 1965

    25 Ayias
Zonis Str Suite 167

    Limassol

    Cyprus
3027

    


    hereinafter
referred to as "HB"

    


    


    ON THE
ONE HAND

    


    


    and

    


    Austrian
Gaming Industries GmbH

    FN 109445
z

    Wiener
Strasse 158

    2352
Gumpoldskirchen

    Austria

    


    hereinafter
referred to as "AGI"

    


    


    ON THE
OTHER HAND

    


    


    as
follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

     

    Octavian,
Ziria, HB and AGI (together the "Parties") mutually declare and
agree that:

    


    
      	
              1.

            	
              Octavian
      asserted to be the sole owner of all present and future local, foreign or
      international patents, trade marks, service marks, trade names, design
      rights, database rights, copyrights (including copyright in software),
      rights in inventions and topography rights whether or not registered,
      including all applications and rights to apply for registration
      (hereinafter referred to as "IP Rights") in all
      products listed in Annex A
      (these products and any part thereof hereinafter referred to as
      the "Products");

            


    

    


    
      	
              2.

            	
              Octavian
      asserted to be the owner of all IP Rights in and to hold ownership title
      to all materials related to the Products (these materials and any part
      thereof hereinafter referred to as the "Materials and this shall
      include Software Materials") as far as necessary to perform those
      IP-Rights in the Products;

            


    

    


     

    
      	
              3.

            	
              “Software Materials”
      means the Source and Object codes for (i) all current and future
      modifications and updates to version 3.70 the Advanced Gaming Engine,
      including version 4.00 and all and any subsequent versions. (ii) all
      software embedded within the Products as are necessary to be delivered or
      deposited to comply with this Agreement and (iii) any necessary software
      documentation to perform the IP-Rights in the Products under this
      Agreement.

            


    

    


    
      	
              3.

            	
              they
      have entered into a second loan agreement dated the same date as this
      Agreement (hereinafter referred to as the "Loan
      Agreement");

            


    

    


    
      	
              4.

            	
              when
      entering into the Loan Agreement, the Parties intended that all the IP
      Rights of Octavian in the Products and Materials are transferred to AGI
      under the Condition as set forth in Article 1 of this Intellectual
      Property Rights Transfer Agreement (the "Agreement");

            


    

    


    
      	
              5.

            	
              the
      Parties now want to confirm this conditional full transfer of IP Rights in
      the Products and Materials in
writing.

            


    

    


    NOW,
THEREFORE, THE PARTIES AGREE AS FOLLOWS:

    


    Article
1           Condition

    


    The
transfer of IP Rights in the Products and Materials pursuant to Article 2
of this Agreement shall be conditional upon an Event of Default (as defined in
the Loan Agreement) having occurred (hereinafter referred to as the "Condition").

    


    Article
2           Full Transfer
of all Rights in the Products

    


    The
Parties hereby confirm and agree that all IP Rights and the ownership of
Octavian in the Products and Materials are transferred to AGI upon AGI giving
notice that (i) the Condition has been fulfilled; (ii) the IP Rights in the
Products and Materials will be fully transferred to AGI 5 Business Days after
receipt of the notice by Octavian (in accordance with the notice provisions of
this Agreement); and (iii) setting out the details required pursuant to Article
5 below (the "Transfer
Notice").

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

    


    This
transfer shall be without limitation with regard to content, duration and area
(territory), including possible extensions of the duration of copyright,
including the right to identify itself as producer of the Products and including
the right to possible new exploitation methods and rights, and – insofar as the
transfer of the full IP Rights in the Products and Materials under any
jurisdiction may not be possible – accordingly, with regard to content, duration
and area (territory) unlimited, exclusive, transferable and irrevocable rights
of use and/or rights to utilize the IP Rights in the Products and Materials are
granted to AGI. Therefore, AGI shall have acquired the exclusive unlimited right
in and/or right to utilize the IP Rights in the Products and Materials. Octavian
hereby irrevocably confirms that AGI is entitled without restrictions and
irrevocably to all the IP Rights in the Products. AGI is therefore in particular
exclusively entitled to the use of the IP Rights in the Products and Materials
by itself or any third party, true to original or processed by any existing or
future possible method, worldwide and without time limitations, for any purpose,
in particular to – irrespective of method and quantity – copy, distribute
copies, further develop and change, disseminate, lease, send, perform, make
available to the public and/or to transfer or grant these rights entirely or in
part to third parties and/or grant (sub-)licences.

    


    The
provision of this paragraph are subject only to any rights of use granted to
third parties by Octavian in the ordinary course of business (being distributing
and selling the Products and other gaming products to distributors to distribute
said Products or other gaming products and end users to use said Products and
other gaming products as end user, hereinafter “Octavian ́s
Business”.

    


    AGI and
Octavian acknowledge that AGI has the benefit of the First Transfer Agreement
(as defined in the Loan Agreement) in relation to the AGE 3.70 IP Rights (as
defined in the Loan Agreement)

    


    There is
no obligation of use by AGI but it is intended that AGI uses reasonable efforts
to exploit the IP Rights in the Products and Materials transferred to it during
the Protected Period pursuant to Article 5. AGI shall not be obliged to
affix any reference to the author of the Products.

    


    Article
3           Transfer of
Rights in the Products, Materials and Software Materials

    


    AGI,
Octavian and NCC Escrow International Limited, acting as escrow agent
(the "Escrow
Agent") entered into an escrow agreement on 30 October 2008 (the "Escrow Agreement") and
pursuant to the Escrow Agreement,   Octavian hereby confirms to
AGI that it shall place in escrow, the AGE Modifications (as defined in the Loan
Agreement) promptly upon the same being finalised.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

    


    Upon
dispatch of the Transfer Notice in accordance with Article 2, AGI shall be
entitled to immediately notify the Escrow Agent in writing that the Condition
has been fulfilled and notice has been given to Octavian that the IP Rights in
the Products and Materials, including Software Materials will be transferred on
the date set out in the Transfer Notice.

    


    Upon
receipt of such notice, the Escrow Agent shall hand over the Software Materials
to AGI without undue delay in order to transfer the Software Materials to
AGI.

    


    Upon
transfer of the IP Rights in the Products and the Materials, including Software
Materials to AGI, AGI shall be entitled to use the IP Rights in the Materials
including Software Materials as far as necessary to perform the IP-Rights in the
Products.

    


    Article
4           Compensation
for the Transfer of Rights and Materials

    


    The
transfer of the IP Rights in the Products and Materials hereunder shall become
valid upon fulfilment of the Condition and service on the Transfer Notice in
accordance with Article 2 and shall occur on the date set out in the Transfer
Notice. It serves as security for the full settlement of claims by AGI out of or
in connection with the Loan Agreement and this Agreement.

    


    Octavian
therefore has no claim for any compensation, regardless of the value of the
transferred rights today or in the future. Any right for rescission of this
Agreement or any claim for invalidation or avoidance or adjustment of this
Agreement including without limitation for reasons of error, change of
circumstances, frustration of contract or on the basis of leasio enormis (Sec 934
ABGB) shall be excluded.

    


    Article
5           Protected
Period

    


    This
Article 5 shall apply in the event that the IP Rights in the Products and
Materials are transferred to AGI in accordance with Article 2 (other than where
such transfer occurs as a result of an Event of Default under clause 6.1.2 of
the Loan Agreement). In the Transfer Notice, AGI shall set out the amount of the
Loan (plus all accrued but unpaid interest thereon) which is outstanding in
accordance with the Loan Agreement at the date that the transfer occurs in
accordance with Article 2.

    


    For a
period of 12 months following the transfer of the IP Rights in the Products and
Materials pursuant to Article 2 (the "Protected Period"), it is
intended that AGI uses reasonable efforts to exploit the IP Rights in the
Products and Materials transferred to it provided always that for the Protected
Period, AGI shall not transfer, licence, assign, pledge or otherwise grant
rights to any person in respect of the IP Rights in the Products and Materials,
other than in the ordinary course of business, which, for the avoidance of doubt
and without limitation shall include. the right also within the Protection
Period for AGI to license the IP Rights in the Products and Materials on an
End User License level to be able to exploit the IP Rights in the Products and
Materials.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

    


    If, at
any time during the Protected Period,

    


    
      	
               
      

            	
              1.

            	
              Octavian
      repays to AGI the amount of the Loan and accrued but unpaid interest
      thereon along with any reasonable costs incurred by AGI in enforcing the
      terms of the Loan Agreement or this Agreement including any moneys
      required to be paid under the Escrow Agreement for the release of the
      Software Materials from Escrow; or

            


    

    
      	
               
      

            	
              2.

            	
              AGI
      receives from the exploitation of the IP Rights in the Products and
      Materials an amount that is equal to the total of the Loan plus accrued
      but unpaid interest thereon and any reasonable costs incurred by AGI in
      enforcing the terms of the Loan Agreement or this Agreement including any
      moneys required to be paid under the Escrow Agreement for the release of
      the Software Materials from Escrow and any reasonable costs incurred by
      AGI in connection with such
exploitation,

            


    

    


    AGI
shall, within 5 Business Days of such event occurring, undertake all steps
required to transfer the IP Rights in the Products and Materials back to
Octavian and shall promptly pursue all registrations and other steps required to
complete such transfer.  Octavian shall reimburse AGI for all
reasonable costs incurred by AGI in completing the transfer to Octavian as
contemplated by this Article 5.

    


    Nothing
contained in this Article 5 shall, however, in any way limit or prejudice the
transfer of the IP Rights in the Products and of the Materials to AGI
hereunder.

    


    Article
6           Representations
and Warranties and Indemnification

    


    Octavian
represents, warrants and guarantees (§ 880a second case ABGB) that each of
the following are true, correct, complete and not misleading as of the date
hereof and acknowledges that AGI has entered into this Agreement and the Loan
Agreement in reliance of these representations, warranties and
guarantees:

    


    
      	
              (i)

            	
              the
      Products have been created by Octavian‘s employees, and Octavian is the
      sole and unrestricted owner of the exclusive rights in the
      Products;

            


    

    
      	
              (ii)

            	
              Octavian
      is the sole and unrestricted owner of all  the IP-Rights in the
      Products and Materials;

            


    

    
      	
              (iii)

            	
              no
      third party is entitled to any IP Rights with regard to the Products and
      Materials other than in the ordinary course of Octavian's Business or as
      approved in writing by AGI, provided that Octavian is not limited in its
      disposition regarding these rights by any grant of such rights of use in
      the ordinary course of Octavian ́s Business to third
    parties;

            


    

    
      	
              (iv)

            	
              Octavian
      is authorized to transfer the IP Rights in the Products and Materials
      without any approval of any third party and without any limitation (other
      than in respect of licenses or similar rights of use granted in the
      ordinary course of Octavian's Business provided that Octavian is not
      limited in its disposition of such
IP-Rights.;

            


    

    
      	
              (v)

            	
              all
      persons that are considered as authors of the Products have explicitly
      waived their rights to be named as authors of the
  Products.

            


    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

     

    The
representations, warranties and guarantees set forth under (i) through (v) above
shall be deemed to be repeated on and as of each date on which a payment is due
to be made by Octavian under the Loan Agreement.

    


    AGI and
Octavian acknowledge that AGI has the benefit of the First Transfer Agreement
(as defined in the Loan Agreement) in relation to the AGE 3.70 IP Rights (as
defined in the Loan Agreement).

     

    Octavian
shall indemnify and hold AGI harmless from and against any damages, liabilities,
losses, penalties, expenses, assessments or judgements of any nature whatsoever
(including, without limitation, attorney's fees and expenses, consultant's and
investigator's fees and expenses, and other costs and expenses incident to any
suit, action or proceeding), suffered or incurred, directly or indirectly, by
AGI as a result of, arising out of or relating to (A) any breach of any
representation, warranty or guarantee made by Octavian under or pursuant to this
Agreement; or (B) any violation, contravention or breach of any covenant,
agreement or obligation of Octavian under or pursuant to this
Agreement.

    


    Article
7           Covenants of
Octavian, HB and Ziria

    


    Octavian
undertakes that it shall not, from the date of this Agreement until repayment of
the Loan (and all interest accrued thereon) in full in accordance with the terms
of the Loan Agreement:

    


    
      	
              (i)

            	
              assign
      ownership of any of the IP Rights in the Products or Materials to any
      person other than AGI;

            


    

    
      	
              (ii)

            	
              grant
      any licence or sub-licence of any IP Rights in the Products or Materials
      to any person other than in the ordinary course of Octavian's Business or
      with the prior written consent of AGI;
or

            


    

    
      	
              (iii)

            	
              create
      or permit to subsist any Encumbrance (as defined in the Loan Agreement)
      over the IP Rights in the Products or Materials other than pursuant to
      this Agreement and the Loan Agreement or otherwise to AGI (including any
      rights under the First Transfer Agreement (as defined in the Loan
      Agreement)).

            


    

    


    Ziria and
HB hereby confirm and guarantee (§ 880a second case ABGB) that, as at the
date of this Agreement, Octavian owns all the IP-Rights in the Products and
Materials as set out in paragraphs 1 and 2 and concerning the compliance with
and the fulfilment of Octavian ́s obligations out or in connection with this
Agreement Ziria and HB must use their best reasonable endeavours that Octavian
fulfils its obligations under this Agreement.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

     

    Article
8           Governing Law
and Dispute Resolution

    


    This
Agreement shall be governed by and construed in accordance with Austrian law,
with the exception of (i) the UN Sales Convention and (ii) the conflict of law
rules of Austrian private international law.

     

    Any and
all disputes arising out of or in connection with this Agreement, including,
without limitation, a dispute as to the conclusion, validity or existence of
this Agreement, shall be finally and exclusively resolved and settled under the
Rules of Arbitration and Conciliation of the International Arbitral Centre of
the Economic Chamber Austria in Vienna, Austria, as amended from time to time
(the "Vienna Rules"), by
3 (three) arbitrators appointed in accordance with these rules. The language of
the arbitration shall be English. The seat of the arbitration shall be Munich.
Any award and/or final decision of the arbitrators shall include a decision on
costs, including, without limitation, fees of counsel. Each of the Parties
agrees not to resist the enforcement of any arbitration award obtained in
connection with this Agreement other than as expressly permitted by the 1958 New
York Convention on the Recognition and Enforcement of Foreign Arbitration
Awards.

     

    Notwithstanding
the foregoing, the Parties agree that, in addition to any and all other remedies
that may be available under this Agreement, each Party shall be entitled to
request injunctive relief or to initiate injunction proceedings at the
(ordinary) courts of competent jurisdiction.

     

    Article
9           Final
Provisions

    


    Each of
the Parties shall from time to time execute such documents and perform such acts
and things as any Party may reasonably require to give any Party the full
benefit of this Agreement.

    


    This
Agreement shall be drawn up in English and the English language shall therefore
be the governing language. Any translations are for convenience only and shall
thus not be authorative for the interpretation of this Agreement.

    


    This
Agreement is executed in 2 (two) counterparts, one for Octavian and one for AGI,
each of which shall be deemed an original and all of which together shall
constitute one and the same instrument.

    


    This
Agreement constitutes the entire agreement and understanding of the Parties
relating to the subject matter hereof and supersedes all prior agreements and
understandings, whether oral or written, relating to the subject matter hereof.
Any amendments and modifications shall be valid only if agreed upon in writing
and signed by the Parties hereto; this formal requirement may only be waived in
writing. For the avoidance of doubt the Parties to this Agreement acknowledge
that the relevant provisions with regards to the AGE 3.70 IP as provided for in
the Loan Agreement together with the First Transfer Agreement (as referred to
the Loan Agreement) respectively be taken into consideration and apply as the
case may be.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

    


    This
Agreement shall be binding upon, and inure to the benefit of, the Parties and
their respective successors and permitted assigns. This Agreement may not be
assigned by Octavian or Ziria without the prior written consent of AGI or by AGI
without the prior written consent of Octavian.

    


    All
Exhibits to this Agreement are an integral part of this Agreement. All Exhibits
to this Agreement and all information disclosed therein is (are) true, accurate
and complete and not misleading. All references in this Agreement to an Exhibit
shall be deemed to be references to a clause of this Agreement unless the
context otherwise requires.

    


    Clause
and subsection headings of this Agreement are for ease of reference only and do
not affect the substance, meaning or interpretation of any provision hereof.
Words denoting the singular include the plural and vice versa, words denoting
any one gender include both genders. All references to legal provisions shall
include references to any statutory modification or re-enactment thereof,
whether before or after the Signing.

    


    The
Parties to this Agreement have participated jointly in the negotiation and
drafting of this Agreement. If any ambiguity or question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by all Parties hereto, and no presumption or burden of proof shall arise
favouring or disfavouring any Party by virtue of the authorship of any provision
of this Agreement.

    


    The
failure of any Party to enforce or to exercise, at any time or for any period of
time any term of or any right or remedy arising pursuant to or under this
Agreement shall not constitute, and shall not be construed as, a waiver of such
term or right or remedy and shall in no way affect that Party's right to enforce
or exercise it later, provided that such right is not time barred, expired or
precluded. Any waiver to this effect must be explicitly in writing.

    


    If any
provision of this Agreement shall be held to be illegal, invalid or
unenforceable, in whole or in part, such provision or part shall to that extent
be deemed not to form a part of this Agreement but the legality, validity or
enforceability of the remainder of this Agreement shall not be affected. The
illegal, invalid or unenforceable provision, in whole or in part, shall be
replaced by such valid and enforceable provision which corresponds to the
original intention and purpose of the illegal, invalid or unenforceable
provision.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

    


    Any
notice(s) required or permitted in connection with this Agreement or by law
(each a "Notice")
shall be given in writing by an authorized representative of the relevant Party
and shall be delivered by hand, sent to the recipient by certified or registered
mail or by international courier service (such as DHL, UPS or the like), or
facsimile transmission (with the original to follow within 5 Business Days) to
the address set forth below or an address to be provided by the relevant Party
in writing and by certified or registered mail, postage prepaid, with reference
to this Article 8 to the other Party. Any Notice shall be effective upon receipt
and shall be deemed to have been received:

     

    
      	
               
      

            	
              §

            	
              at
      the time of delivery, if delivered by hand, registered or certified mail
      or courier;

            


    

    
      	
               
      

            	
              §

            	
              at
      the time of transmission in legible form, if delivered by
    fax.

            


    

    


    If to
Octavian:

    Octavian
International Limited

    Legal
Department

    Attn:
Robert Jones

    Bury
House

    1-3 Bury
Street

    Guildford
Surrey GU2 4AW

    United
Kingdom

    Fax: +44
(0) 1483 543 540

    


    If to
AGI:

    Austrian
Gaming Industries GmbH

    c/o AGI
Hungária Kft.

    Mrs.
Ildikó Dachauer

    Attn:
Peter Stein

    Fö utca
186

    9352
Veszkény

    Hungary

    Fax: +36
96 575 006

    


    The
Parties agree that notwithstanding any other provisions of this Agreement
Agreements, any communication to be made under or in connection with this
Agreement shall be made to an address outside the Republic of Austria. The
foregoing sentence applies to any communication under or in connection made by
fax, electronic message, including in particular emails or attachments thereto,
or in any other written form relevant for purposes of the Austrian Stamp Duty
Act (GebG). In
particular, no such communication shall be sent, read, brought, transferred,
saved or kept within the Republic of Austria at any time.

     

    
      	
              4th

            	, this 	
               August

            	.
  2009


    

     

    For
and on behalf of Octavian International Limited

    


    


    
      	
              
                /s/Harmen
      Brenninkmeijer

              

            
	
              Harmen
      Brenninkmeijer, born 23 January
1965

            


    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

     

    For
and on behalf of Ziria Enterprises Ltd.

    


    


    
      	
              
                /s/Harmen
      Brenninkmeijer

              

            
	
              Harmen
      Brenninkmeijer, born 23 January
1965

            


    

    


    


    For
and on behalf of Harmen Brenninkmeijer

    


    


    


    
      	
              
                /s/Harmen
      Brenninkmeijer

              

            
	 
      


    

    


    


    For
and on behalf of Austrian Gaming Industries GmbH

    


    


    


    
      	
              
                /s/Zane
      Mersich

              

            	
               

            	 
      
	
              Zane
      Mersich 03-09-1972

            	 	
              [● Name],
      born [●
      date]

            


    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

        IP
RIGHTS TRANSFER AGREEMENT

      

    

    


    ANNEX
A

     

    All
current and future modifications and updates to version 3.70 the Advanced Gaming
Engine (but not to include version 3.70 which is the subject to the First
Transfer Agreement as defined in the Loan Agreement) including version 4.00 and
all and any subsequent versions.