Document:

CONFIDENTIAL TREATMENT
                               KONAMI CORPORATION
                         SOFTWARE DISTRIBUTION AGREEMENT

         This SOFTWARE DISTRIBUTION AGREEMENT (the "Agreement") is made and
entered into by and between KONAMI OF AMERICA, INC., a company organized under
the laws of Illinois ("Konami"), and MAJESCO SALES, INC., a company organized
under the laws of New Jersey ("Distributor"), as of April 8, 2002 (The
"Effective Date"), and consists of this signature page and the Exhibits hereto,
which are incorporated in full by this reference. Capitalized terms used in this
Agreement shall be as defined on this signature page and in Exhibit B ("General
Terms").

                                    EXHIBITS

                            Exhibit A: Special Terms
                            Exhibit B: General Terms
                            Exhibit C: Certificate to Nintendo

                                    RECITALS

         Konami develops, markets and licenses general commercial computer game
software far use on, among others, the Nintendo Advanced Game Boy ("AGS")
operating systems.

         Distributor wants to distribute through customary retail channels
certain of Konami's software in object code form to consumers located within the
Territory.

         Konami is willing to grant Distributor the limited and exclusive right
to distribute through customary retail channels the object code form of certain
of Konami's software products, subject to the terms and conditions of this
Agreement.

         IN WITNESS WHEREOF, the parties hereto, by their duly authorized
representatives, have executed and delivered this Agreement.

KONAMI OF AMERICA, INC.                       MAJESCO SALES, INC.

By:                                           By:
      ----------------------------               -------------------------------
      Print Name:                                   Print Name:
      Print Title:                                  Print Title:

Address:                                      Address:
Telephone:                                    Telephone:
Fax:                                          Fax:

                                    EXHIBIT A

                                  SPECIAL TERMS

1.   TERRITORY.

     (a)  DESCRIPTION OF TERRITORY: CANADA, MEXICO AND THE UNITED STATES.

     (b)  RESTRICTIONS.

          (1)  Distributor shall have the right to market and distribute the
               Konami Products only to End Users located in the Territory by
               means of Customary Retail Channels.

          (2)  Konami shall have the right to prevent Distributor, immediately
               upon written notice to Distributor, from distributing the Konami
               Products in any country in the Territory if Konami reasonably
               concludes, or is informed by one of Konami's suppliers that such
               supplier has determined, that the country (a) does not provide
               adequate protection for Konami's or the supplier's proprietary
               rights in the Konami Products or (b) has laws, or the government
               has committed acts, which Konami or the supplier deems injurious
               to its business interests.

     (c)  SALES OUTSIDE TERRITORY.

          Without the prior written consent of Konami, Distributor shall not,
          with respect to the Konami Products, (i) establish or maintain outside
          of the Territory any branch, warehouse or distribution depot and (ii)
          actively license, market or otherwise promote the use or distribution
          of the Konami Products outside of the Territory.

2.   KONAMI SOFTWARE (Title, Operating System(s)).

          ESPN Golf (AGB)*
          ESPN Fishing (AGB)*
          ESPN Skateboarding (AGB)*
          Jurassic Park-Park Builder (AGB)*
          Jurassic Park-island Attack (AGB)*
          Jurassic Park-DNA (AGB)*
          Castlevania-Circle of the Moon (AGB)

--------
*  Expressly provided, however, that (i) the software marked with a "*" above
   includes animated characters, music, trademarks and other intellectual
   property not owned by Konam4 (ii) Distributor acknowledges the ownership of
   such third-party intellectual property by third parties and that Distributor
   must receive from such third parties the right to distribute such
   intellectual property in conjunction with the distribution of the Konami
   Software, (iii) Konami has no rights to, and accordingly excludes from the
   definition of Konami Software and grants no rights to, such Intellectual
   property, but (iv) Konami will make reasonable efforts to assist Distributor
   in securing the rights necessarily for it to distribute the Konami Software
   with third-party intellectual property, though Konami does not guarantee that
   its assistance will result In Distributor receiving the rights so distribute
   the Konami Software with the third-party intellectual property.

                                      A-1

          Frogger Great Adventure; Temple of the Frog (AGB)
          Gradius (AGB)
          Konami Crazy Racers (AGB)

3.   KONAMI TRADEMARKS.

          Konami (logo arid name mark)
          Castlevania-Circle of the Moon
          Frogger's Great Adventure: Temple of the Frog
          Gradius
          Konami Krazy Racers

4.   MINIMUM ROYALTIES, ADDITIONAL ROYALTIES AND PAYMENT TERMS.

     (a)  MINIMUM ROYALTIES.

          AMOUNT:   1. Distributor shall pay to Konami non-refundable royalties
                    of ***** (calculated as based on the distribution by
                    Distributor of **** copies of the Konami Software known as
                    Gradius and Konami Krazy Racers (combined distribution) at a
                    royalty rate of **** per copy, and **** copies of the Konami
                    Software known as Frogger and Castlevania (combined
                    distribution) at a royalty rate of **** per copy, but in no
                    way or manner actually dependent on the number of copies
                    actually distributed by Distributor).

                    2. Distributor shall pay to Konami non-refundable royalties
                    of **** (calculated as based on the distribution by
                    Distributor of **** copies of the Konami Software known as
                    ESPN Skateboarding. Jurassic Park-Park Builder, Jurassic
                    Park-Island Attack, Jurassic Park-DNA, that includes third
                    party intellectual property, combined distribution with the
                    Konami Software in Section 4(a) 1) at a royalty rate of ****
                    per copy, but in no way or manner actually dependent on the
                    number of copies actually distributed by Distributor).

          TERMS:    The minimum payment set forth this Section 4(a) shall be due
                    and payable in accordance with the following schedu1e:

                           DATE DUE AND PAYABLE                         AMOUNT

                           Effective Date                               **** for Konami Software with
                                                                        Konami exclusive intellectual
                                                                        property.

                           60 days after first shipment                 **** for Konami Software with
                                                                        Konami exclusive intellectual
                                                                        property.

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      A-2

                                                                        ***** for Konami Software with
                                                                        third party intellectual property.

     (b)  ADDITIONAL ROYALTIES/PURCHASE OF GOODS.

          AMOUNT:   1. Distributor shall pay Konami a non-refundable royalty of
                    **** for each copy of the Konami Software which it
                    distributes in excess of **** copies (combined distribution)
                    of Konami Software titles with Konami exclusive intellectual
                    property (Ciradius and Konami K.razy Racers) and shall
                    accrue solely based on copies of the Konami Software
                    distributed by Distributor. Distributor shall pay Konami a
                    non-refundable royalty of **** for each copy of the Konami
                    Software it distributes in excess of **** copies (combined
                    distribution) for the Konami Software titles with Konami
                    exclusive intellectual property (Frogger or Castlevania) and
                    shall accrue solely based on copies of the Konami Software
                    distributed by Distributor. Royalties shall not be reduced
                    due to the return (for any reason) of any copies of the
                    Konami Software to Distributor or by any bad debt.

                    2. Distributor shall pay Konami a non-refundable royalty of
                    **** for each copy of the Konami Software which it
                    distributes in excess of **** copies (combined distribution)
                    of Konami Software with third party intellectual property
                    (ESPN Skateboarding, Jurassic Park-Park Builder, Jurassic
                    Park-bland Attack, and Jurassic Park-DNA) and shall accrue
                    solely based on copies of the Konami Software distributed by
                    Distributor, and shall not be reduced due to the return (for
                    any reason) of any copies of the Konami Software to
                    Distributor or by any bad debt.

                    3. If Distributor distributes the Konami Software titles
                    ESPN Golf or ESFN Fishing it shall pay a non-refundable
                    royalty of per unit to Konami and shall accrue solely based
                    on copies of the Konami Software distributed by Distributor,
                    and shall not be reduced due to the return (for any reason)
                    of any copies of the Konami software to Distributor or by
                    any bad debt.

                    4. If Distributor purchases enough of an individual Konami
                    Software title for Konami to qualify for a volume discount
                    on that title from Nintendo then said discount can only be
                    used by Distributor as a credit against future purchases of
                    Konami Software pursuant to this Agreement.

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      A-3

                    5. Distributor will not have any responsibility or liability
                    to third parties for royalties associated with Konami
                    Software containing third party intellectual property.

          TERMS:    The royalties set forth in this Section 4(b) shall accrue
                    upon the shipment of each such copy by Distributor to its
                    customer. Distributor shall pay such accrued royalties
                    within ***** after the end of each calendar quarter in which
                    such royalties accrue.

          PURCHASE  OF GOODS: Distributor shall submit an order for Konami
                    Software to Konami along with payment for the cost of goods
                    from Nintendo for the Konami Software. Konami shall purchase
                    the Konami Software from Nintendo of America and immediately
                    transfer title to the Konami Software to Distributor.
                    Distributor shall arrange for shipping of the Konami
                    Software from the Nintendo of America replication facility.
                    Konami shall issue an invoice to Distributor for the Konami
                    showing payment for the Konami Software.

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      A-4

                                    EXHIBIT B

                                  GENERAL TERMS

1.   DEFINITIONS.

     1.1. CONFIDENTIAL INFORMATION means any and all information related to a
party that such party treats as confidential and any information relating to
third parties that such. party has an obligation to treat as confidential, which
is disclosed by such party to the other party in the course of performing the
duties and obligations of this Agreement, whether such information is in oral,
written, graphic or electronic form; provided that (a) if such information is in
writing or other tangible forms it is clearly marked as "proprietary or
"confidential" when disclosed to the receiving party; or (b) if such information
is not in tangible form, it (i) is identified as "proprietary" or "confidential"
when disclosed and (ii) is summarized in a writing which is marked "proprietary"
or "confidential" and is delivered to the receiving party within thirty (30)
days after the date of disclosure. Confidential Information shall not include
any information, data or material which: (a) the disclosing party expressly
agrees in writing is free of any non-disclosure obligations; (b) at the time of
disclosure to the receiving party ~vas known to the receiving party (as
evidenced by documentation in the receiving party's possession) free of any
nondisclosure obligations; (c) is independently developed by the receiving party
(as evidenced by documentation in the receiving party's possession); (d) is
lawfully received by the receiving party, free of any non-disclosure
obligations, from a third party having the right to so furnish such Confidential
Information or (e) is or becomes generally available to the public without any
breach of this Agreement or unauthorized disclosure of such Confidential
Information by the receiving party.

     1.2. CUSTOMER RETAIL CHANNELS means those methods by which products are
supplied to mass retail marketers for sale solely to consumers at the retail
level.

     1.3. END USER means any person or organization licensed to use, but not to
further distribute, any Konami Software.

     1.4. F.C.A. means Free Carrier as defined in INCOTERMS 1990.

     1.5. LICENSE FEES means the minimum royalties and additional royalties for
Konami Software distributed by Distributor pursuant to this Agreement as set
forth in Section 4 of Exhibit A ("Special Terms").

     1.6. KONAMI COLLATERAL MATERIAL means documentation and related materials
as are reasonably necessary, in Konami's discretion, for Distributor's
distribution of copies of the Konami Products and as delivered by Konami to
Distributor under this Agreement.

     1.7. KONAMI PRODUCTS means singly or collectively the Konami Software and
Konami Collateral Material.

     1.8. KONAMI SOFTWARE means the object code version of the software
specified as "Konami Software" on Exhibit A ("Special Terms").

                                      B-1

     1.9. KONAMI TRADEMARKS means the Konami trademarks, service marks and logos
described in Exhibit A ("Special Terms").

     1.10. Territory means the geographical area set forth in Exhibit A
("Special Terms").

2.   OWNERSHIP. The Confidential Information of Konami, the Konami Products and
the Konami Trademarks, and all intellectual property rights therein shall remain
the exclusive property of Konami and its suppliers. Distributor expressly
acknowledges that Konami has no rights to, and accordingly is not licensing to
Distributor hereunder any rights to distribute, the animated characters depicted
in those items of the Konami Software marked in Section 2 of Exhibit A ("Special
Terms") hereto with an asterisk ("*"), Distributor shall use reasonable efforts
to preserve such Konami and suppliers' rights and shall not do anything to
contest or impair the intellectual property rights of Konami or its suppliers.
Distributor acknowledges that all uses of the Konami Trademarks by Distributor
shall inure to the benefit of and be on behalf of Konami. Distributor further
acknowledges that the Konami Trademarks are valid under applicable law and that
Distributor's utilization of the Konami Trademarks will not create any right,
tide or interest in or to such trademarks.

3.   DELIVERY AND LICENSES.

     3.1. DELIVERY. To the extent reasonably available to Konami as of the
Effective Date, Konami shall deliver to Distributor copies of the Konami
Software and copies of the Konami Collateral Material. Unless otherwise agreed
by the parties, the shipping terms of such delivery shall be F.C.A. Konami's or
Nintendo's shipping faculty.

     3.2. DISTRIBUTION OF KONAMI PRODUCTS. Subject to the terms and conditions
of this Agreement and payment of the applicable License Fees, Konami hereby
grants to Distributor an exclusive, non-transferable license to distribute via
Customary Retail Channels copies of the Konami Software to End Users in the
Territory; provided, Distributor shall distribute copies of the Konami Software
(1) packaged with an End User License Agreement and (2) on tangible media
appropriate for the operating system for which the Konami Software is designed
(as of the Effective Date, video game player cartridges containing embodiments
of the Konami Software in hardware) and not electronically. Distributor agrees
not to distribute the Konami Products, or (i) with knowledge or reason to know
that the Konami Products will be transported outside of the Territory.

     3.3. License to Use and Distribute Konami Collateral Material. Subject to
the terms and conditions of this Agreement, Konami hereby grants to Distributor
a non-exclusive, non-transferable license in the Territory to reproduce, have
reproduced and distribute (as appropriate and necessary for the promotion,
distribution and use of the Konami Software) the Konami Collateral Material to
End Users in connection with the distribution of the Konami Software pursuant to
Section 3.2.

4.   RESTRICTIONS AND LIMITATIONS.

     4.1. USE OF KONAMI TRADEMARKS. Subject to the terms and conditions of this
Agreement, Konami hereby grants to Distributor a non-exclusive, limited license
to use the Konami Trademarks on Distributor's advertising and printed materials
only for the Konami

                                      B-2

Products- Distributor shall display notices of trademark status (i.e., (R) or
(TM) as prescribed by Konami from time to time) adjacent to each use of the
Konami Trademarks on each piece of advertising or printed materials in which
such Konami Trademark appears. Distributor shall also include as a footnote to
the Konami Trademarks along with the first or most prominent use of each Konami
Trademark in each piece of advertising or printed materials in which such Konami
Trademark appear: "[Mark] is a trademark of Konami Corporation, which may be
registered in certain jurisdictions," and such other symbols and notices as may
be prescribed by Konami from time to time. Distributor will include the Konami
Trademarks m all advertisements, brochures, manuals or other appropriate
materials used in the promotion, distribution or use of the Konami Products.

     4.2. CONVEYANCE OF LICENSE ONLY. This Agreement grants Distributor a
license only. and only such license rights as are specifically enumerated in
this Agreement. No other right, title or interest in the Konami Products, Konami
Trademarks or Confidential Information of Konami is hereby conveyed to
Distributor. Konami or its suppliers may from time to time choose to register
its copyright interests in the Konami Products, but such acts shall not cause or
be construed as causing any part thereof to become part of the public domain.

     4.3. GENERAL LIMITATIONS AND RESTRICTIONS. Except as expressly authorized
in this Agreement, Distributor shall not use or reproduce any of the Konami
Products, or any portion thereof, without the express prior written consent of
Konami. Distributor shall not (i) adapt, alter, modify, translate or create
derivative works of the Konami Products, (ii) reverse compile, disassemble or
otherwise attempt to reconstruct the source code for the Konami Software, (iii)
electronically transfer the Konami Products from one computer to another over a
network or enable any timesharing of the Konami Products, (iv) assign, plec1~e,
rent, lease or loan the Konami Products, (v) obfuscate, remove or alter any of
the trademarks, trade names, logos, patent or copyright notices, confidential or
proprietary legends or other notices or markings on or in the Konami Products,
and all such markings shall be included in all copies thereof made by
Distributor (to the extent any copies arc authorized), (vi) add, or permit any
third party to add, any markings, notices or legends to the Konami Products
without Konami's express written consent, (vii) use the Konami Software for any
purpose not authorized in the documentation provided by Konami for such Konami
Software, including, without limitation, the Konami Collateral Material, or in
any manner designed to access the functionality of any portion of Konami
Software other than as permitted in the form delivered to Distributor by Konami,
or (viii) permit any third party to perform any of the foregoing prohibited
activities.

     4.4. TRADEMARK RESTRICTIONS. Distributor shall not use the trademark
"Konami" or any other mark likely to cause confusion with the Konami Trademarks
as any portion of Distributor's corporate or trade name, or any trademark or
service mark for any products or services of Distributor. Distributor shall use
the Konami Trademarks solely to refer to the Konami Products. Distributor shall
not use any other trademark or service mark in close proximity to any of the
Konami Trademarks or combine the marks so as to effectively create a unitary
composite mark without the prior written approval of Konami.

     4.5. RESERVATION OF RIGHTS. Konami reserves the right to license, support,
install and service its products, including, without limitation, the Konami
Products, outside of the Territory, either directly to end users or indirectly
through other sales representatives, systems integrators,

                                      B-3

resellers, distributors and other third parties or distribution channels, and
the right to support and service its products, including, without limitation,
the Konami Products, in the Territory, either directly to end users or
indirectly through third parties.

5.   OTHER DISTRIBUTOR OBLIGATIONS.

     5.1. PROCUREMENT. Unless otherwise agreed in writing by the parties,
Distributor shall be solely responsible for obtaining all hardware, operating
software and equipment necessary for the reproduction and distribution of the
Konami Collateral Materials and the distribution of the Konami Products as
contemplated by this Agreement. In no event shall Konami have any
responsibility, liability or obligation with respect to any such hardware,
software or equipment, or any problems experienced by Distributor relating to
the use of such hardware, software and equipment, including but not limited to
any non-conformance of such hardware, software and equipment with the
information available to developers of applications for operation on such
hardware, software and equipment, or any viruses, bugs or other errors that may
be resident in such software.

     5.2. MARKETING EFFORTS AND TECHNICAL CAPABILITY. Distributor shall employ,
train, and maintain a staff of capable sales and technical personnel who are
adequate to: (a) aggressively introduce, promote and market the Konami Products
to their maximum potential in the Territory and (1) provide accurate information
to customers and potential End Users concerning the features and capabilities of
the Konami Products At its own expense, Distributor will conduct, or provide
for, any training of its personnel which may be necessary to impart the
knowledge necessary to fulfill the obligations set forth in this Section 5.2.

     5.3. PROMOTIONAL ACTIVITIES. Distributor, at its own expense, shall prepare
such materials as are reasonable and appropriate for the successful marketing of
the Konami Products, including product descriptions and promotional and
marketing materials. Upon Konami's request, Distributor shall provide Konami
with copies of all such materials. Konami reserves the right to reasonably
request Distributor to change any references to the Konami Products in such
materials and upon receipt of such request, Distributor shall promptly so change
such materials.

     5.4. MARKETING. Distributor will use commercially reasonable efforts to
market the Konami Products. Distributor, in its sole discretion, shall establish
the license fees and other fees, if any, charged to its customers and End Users
and, subject to the terms of this Agreement, the terms and conditions of the
distribution of the Konami Products. In marketing the Konami Products,
Distributor shall:

       5.4.1. Not engage in any deceptive, misleading, illegal or unethical
              practices that may be detrimental to Konami or Konami's suppliers;

       5.4.2. Not make any representations, warranties or guarantees concerning
              the Konami Products on behalf of Konami or Konami's suppliers to
              any third party;

       5.4.3. Require all of Distributor's customers to disclaim all liability
              of any kind on behalf or Konami and Konami's suppliers; and

                                      B-4

       5.4.4. Comply with all applicable non-U.S. and U.S. federal, state and
              local laws and regulations, in performing its duties.

     5.5. ENFORCEMENT OF END USER LICENSE AGREEMENTS. Distributor shall notify
Konami of any breach of a material obligation under any End User License
Agreement that comes to Distributor's attention. Distributor will cooperate with
Konami in any legal action to prevent or stop unauthorized use, reproduction,
modification, distribution or sublicensing of the Konami Products,

     5.6. LAWS. Distributor shall advise Konami of any legislation, rule,
regulation or other law (including but not limited to any customs, tax, trade or
tariff law) which is in effect, or which may come into effect after the
Effective Date, and which affects the importation of the Konami Products into,
or the use and the protection of the Konami Products and the associated
intellectual property rights within, any country in which Distributor is then
marketing the Konami Products. Distributor shall obtain, at its own expense, all
registrations, licenses and approvals from all authorities and agencies in the
Territory which may be needed in order for Distributor to import, market and
distribute the Konami Products. Any such applications shall identify the Konami
Products as originating from Konami and Konami's suppliers. Whenever possible,
the registration shall be made on Konami's behalf, and Konami Products shall be
registered in the name of Konami and its suppliers.

     5.7. INFRINGEMENTS AND CLAIMS. Distributor shall promptly notify Konami of
(a) any actual or threatened misappropriation or infringement of Konami's or
Konami's suppliers' proprietary rights which comes to Distributor's attention
and (b) any claim or proceeding involving the Konami Products that comes to its
attention.

     5.8. TRADEMARK REGISTRATIONS. Distributor, at Konami's request, shall (a)
promptly provide Konami with any specimens, (b) execute all applications for
trademark registrations, assignments or other applicable documents and (c)
perform any other act reasonably necessary to protect Konami Trademark rights in
any country in which Distributor is marketing the Konami Products.

     5.9. FINANCIAL CONDITION AND CHANGE IN CONTROL. Distributor is, and shall
remain, solvent and able to pay its bills when due. Distributor will maintain
and employ sufficient working capital to carry out and perform all of its
obligations under this Agreement. At least once per calendar year, in accordance
with a schedule to be agreed upon by the parties, Distributor shall provide
Konami with an audited financial statement of Distributor's business.
Distributor shall furnish such additional financial reports and other data as
Konami may reasonably request to evaluate Distributor's financial condition.
Distributor will also notify Konami in writing not more than ***** after any
change in the management or control of Distributor (or any company directly or
indirectly controlling Distributor) where Distributor or any such controlling
company is merged, consolidated, sells all or substantially all of its assets,
or implements or suffers any substantial change in management or control (i.e.
any transfer of more than **** of Distributor or such controlling company's
voting control).

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      B-5

6.   FEES, PAYMENTS, REPORTS AND AUDITS.

     6.1. FEES. All payments to be made under this Agreement are described in
and shall be made in U.S. currency to the addressee and/or bank account
specified by Konami to Distributor from time to time. Distributor shall pay
Konami fees as set forth in Exhibit A ("Special Terms") in accordance with the
terms thereof.

     6.2. TAXES. The payments set forth in Exhibit A ("Special Terms") are in
consideration of the licenses set forth in Section 3 only. Distributor shall
pay, and indemnify and hold harmless Konami from, any and all national, federal,
state or local taxes, levies and assessments, including, without limitation, any
withholding taxes or stamp fees or duties, pertaining to the licenses set forth
in Section 3 or the entering into of this Agreement (except taxes based upon
Konami's net income from the distribution of the Konami Products to
Distributor). All payments due under this Agreement shall be made without any
deduction or withholding, unless such deduction or withholding is required by
any applicable law of any relevant governmental revenue authority then in
effect. If Distributor is required to deduct or withhold, Distributor will
promptly notify Konami of the requirement, pay the required amount to the
relevant governmental authority, provide Konami with an official receipt or
certified copy or other documentation acceptable to Konami evidencing the
payment, and pay to Konami, in addition to the payment to which Konami is
otherwise entitled under this Agreement, such additional amount as is necessary
to ensure that the net amount actually received by Konami free and clear of all
taxes equals the full amount Konami would have received bad no such deduction or
withholding been required. Distributor shall pay any fines, penalties or other
costs in respect of a failure to pay any of the above taxes, levies and
assessments. Distributor agrees to indemnify Konami against any amount payable
pursuant to this Section 6.2.

     6.3. LATE PAYMENTS. Any invoiced amount or other payment due under this
Agreement which is not paid when due shall bear a late fee at the rate of *****
or the maximum rate permitted by local law, whichever is less. In the event any
undisputed invoice is not paid when due, Konami shall have the further right, at
its sole option, to cease its performance of any obligations hereunder and to
exercise any rights it may have under this Agreement or otherwise.

     6.4. REPORTS. With respect to all Konami Products distributed by
Distributor, Distributor shall report to Konami (a) the number of copies of such
Konami Products distributed (listed by individual product name and operating
system); the name and address of the parties receiving such copies and the date
of shipment; and (b) any other information that Konami may reasonably request
from time to tine. All such reports shall be made within thirty (30) days after
the erg! of each calendar quarter during the term of this Agreement.

     6.5. RECORDS AND AUDIT BIGHTS. Distributor shall retain complete, clear and
accurate records regarding the distribution and support of the Konami Products.
Konami, or its designee(s), shall, during regular business hours at
Distributor's offices and in such a manner that does not interfere with
Distributor's normal business activities, have the right to inspect and

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      B-6

audit, or have conducted an inspection and audit of, all of the relevant
accounting and sales books and records of Distributor with regard to the number
of copies of Konami Software distributed by Distributor. Distributor shall
promptly pay the amount of any underpayments disclosed plus applicable interest
pursuant to Section 6.3. If any audit discloses underpayments of ***** or more
of the amount actually due, Distributor shall bear alt of the costs of the
audit. Konami's audit rights shall not terminate or expire until **** after
termination or expiration of this Agreement.

7.   DISCLAIMER OF WARRANTIES.

     7.1. GENERAL DISCLAIMER. TILE KONAMI PRODUCTS, KONAMI TRADEMARKS AND KONAMI
COLLATERAL MATERIAL ARE BEING LICENSED AND PROVIDED TO DISTRIBUTOR "AS IS,"
`WITH ALL FAULTS," WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS OR
IMPLIED, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT OF THIRD PARTY RIGHTS.

     7.2. NO THIRD-PARTY WARRANTIES. DISTRIBUTOR HEREBY DISCLAIMS ANY
REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, BY ANY KONAMI SUPPLIER, AND
ACKNOWLEDGES AND AGREES THAT NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED,
HAS BEEN MADE BY ANY KONAMI SUPPLIER UNDER THIS AGREEMENT.

8.   CONFIDENTIALITY.

     8.1. NON-DISCLOSURE AND NON-USE. Each party receiving Confidential
Information shall treat such information as strictly confidential, and shall use
the same care to prevent disclosure of such information as such party uses with
respect to its own confidential and proprietary information, which shall not be
less than the care a reasonable person would use under similar circumstances. In
any event, each party receiving Confidential Information shall (a) disclose such
Confidential Information to (i) only those authorized employees and directors of
such party whose duties justify their need to know such information and who have
been clearly informed of their obligation to maintain the confidential and/or
proprietary status of such Confidential Information; or (ii) only those third
parties required for the performance of the receiving party's obligations under
this Agreement pursuant to a written confidentiality agreement as least as
extensive as the confidentiality provisions of this Agreement; and (b) use such
Confidential Information only for the purposes set forth in this Agreement.

     8.2. CERTAIN EXCEPTIONS. The obligations set forth in this Section 8 shall
not apply to any Confidential Information which must be disclosed pursuant to
applicable federal, state or local law, regulation, court order, or other legal
process, provided the receiving party has given the disclosing party prior
written notice of such required disclosure and, to the extent reasonably
possible, has given the disclosing party an opportunity to contest such required
disclosure at the disclosing party's expense.

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      B-7

     8.3. ADVERTISING AND PRESS RELEASES. Neither party shall advertise, issue
any press release or otherwise publish the fact that the parties have entered
into this Agreement without the prior written consent of the other party, except
as may be required by law The parties shall use their best efforts to draft and
issue a press release announcing the signing of this Agreement after the
Effective Date.. Following the issuance of such press release, Konami may also
refer to Distributor in Konami's sales and marketing materials and
presentations. The parties shall mutually agree upon other public relations and
marketing activities related to the advertising of Distributor's relationship
with Konami as set forth in this Agreement.

     8.4. Terms of This Agreement. Notwithstanding anything to the contrary in
this Agreement, neither party shall disclose the terms of this Agreement
(including the fees set forth in Exhibit A ("Special Terms")) to any third party
without the express prior written consent of the other party; provided however
that either party may disclose the terms of this Agreement to its attorneys and
accountants or any potential investor, or as otherwise may be required by law.

9.   INDEMNITY AND EXCEPTIONS.

     9.1. Konami intellectual Property Indemnity. Subject to the provisions of
this Section 9 and Section 10 below, Konami shall at its expense defend any
action against Distributor to the extent such action is based on a claim, that
the Konami Software infringes any Berne Convention copyright, and Konami shall
pay those damages and costs finally awarded against Distributor in any such
action which are specifically attributable to such claim, or those damages and
costs agreed in any monetary settlement or compromise of such action. The
foregoing obligations are conditioned on Distributor notifying Konami promptly
in writing of such action, Distributor giving Konami sole control of the defense
thereof and any negotiations for monetary settlement or compromise thereof, and
Distributor cooperating in the defense thereof at Konami's expense. If the
Konami Software becomes, or in Konami's opinion is likely to become, the subject
of a claim of infringement or misappropriation1 then Distributor shall permit
Konami, at its option and expense, to (a) procure the right to continue using
the Konami Software (b) replace or modify the Konami Software so that it becomes
non-infringing or no longer misappropriates, or (c) terminate this Agreement.
Distributor shall not incur any costs or expenses for the account of Konami
under or pursuant to this Section 9 without Konami's express prior written
consent. THE FORE6OING STATES THE ENTIRE LIABILITY OF KONAMI FOR INFRINGEMENT
AND MISAPPROPRIATION CLAIMS AND ACTIONS.

     9.2. CERTAIN EXCEPTIONS AND DISTRIBUTION INTELLECTUAL PROPERTY INDEMNITY.
Konami shall have no liability to Distributor under this Section 9 or otherwise
for any action or claim alleging infringement or misappropriation based upon (a)
any Distributor Confidential Information; (b) any use of the Konami Software or
any components of the Konami Software in a manner other than as specified by
Konami; (c) any use of the Konami Software or any components of the Konami
Software in combination with other products, equipment. devices, software,
systems or data not supplied by Konami (including without limitation any
software produced by Distributor for use with any components of the Konami
Software) to the extent that such claim is directed against such combination; or
(d) any alteration, modification or customization of any components of the
Konami Software by Distributor or any person other than Konami. In the event of
an infringement or misappropriation action or claim against Konami which is
based on any of the circumstances or conduct described in the preceding

                                      B-8

sentence, Distributor shall at its own expense defend such action or claim, and
Distributor shall pay any and all damages and costs finally awarded against
Konami in connection with such action or claim, or those damages and costs
agreed in any monetary settlement or compromise of such action, provided that
Konami notifies Distributor promptly in writing of such action or claim, Konami
gives Distributor sole control of the defense thereof (and. any negotiations for
settlement or compromise thereof), and Konami cooperates in the defense thereof
at Distributor's expense. Konami shall not incur any costs or expenses for the
account of Distributor under or pursuant to this Section 9.2 without
Distributor's express prior written consent.

     9.3. Distributor General Indemnity. Distributor shall at its own expense
defend and indemnify Konami against all (a) claims and damages to Konami and its
suppliers arising from any use by Distributor or End Users of any product not
provided by Konami but used in combination with the Konami Products if such
claim would have been avoided by the exclusive use of the Konami Products; (b)
claims and damages due to the failure by Distributor to make all necessary
payments to Nintendo of America, Inc., Nintendo Co., Ltd., Universal, Disney
Interactive, ESPN, and/or any other parties as are required for the manufacture,
duplication, distribution and sales of the Konami Products, and (c) damages to
Konami and its suppliers caused by Distributor's breach of any of the provisions
of this Agreement or any product liability claims related to the Konami Software
as distributed by Distributor.

                                      B-9

10.  LIMITATION OF LIABILITY. KONAMI'S AGGREGATE LIABILITY IN CONNECTION WITH
THIS AGREEMENT, THE KONAMI PRODUCTS, THE KONAMI TRADEMARKS AND CONFIDENTIAL
INFORMATION (IF KONAMI, REGARDLESS OF THE FORM OS ACTION GIVING RISE TO SUCH
LIABILITY (WHETHER IN CONTRACT, TORT OR OTHERWISE), AND INCLUDING ANY LIABILITY
UNDER SECTION 9 ABOVE, SHALL NOT EXCEED THE AGGREGATE FEES PAW BY DISTRIBUTOR TO
KONAMI UNDER THIS AGREEMENT. KONAMI SHALL NOT BE LIABLE ON ACCOUNT OF THE
TERMINATION OR EXPIRATION OF THIS AGREEMENT. KONAMI SHALL NOT BE LIABLE FOR ANY
INDIRECT, EXEMPLARY, SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES OF ANY KIND
(INCLUDING WITHOUT LIMITATION LOST PROFITS), EVEN IF DISTRIBUTOR HAS BEEN
ADVISED OF THE FOSSIBIL1TY OF SUCH DAMAGES. DISTRIBUTOR WAIVES ANY RIGHT IT MAY
HAVE TO RECEIVE ANY COMPENSATION OR REPARATION ON TERMINATION OR EXPIRATION OF
THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, LOSS OF GOODWILL, PROSPECTIVE
PROFITS, OR ANTICIPATED ORDERS, OR ON ACCOUNT OF ANY EXPENDITURES, INVESTMENTS,
LEASES OR COMMITMENTS MADE BY EITHER KONAMI OR DISTRIBUTOR. EXCEPT AS PROVIDED
IN SECTION 9 ABOVE (BUT ONLY TO TUE EXTENT AND SUBJECT TO THE LIMITATIONS SET
FORTH IN SECTION 9), KONAMI SHALL NOT BE LIABLE FOR ANY CLAIMS OF THIRD PARTIES
RELATING TO THE PRODUCTS, AND DISTRIBUTOR SHALL DEFEND KONAMI FROM, AND
INDEMNIFY AND HOLD KONAMI HARMLESS AGAINST, ALL SUCH CLAIMS. THE FOREGOING
STATES THE ENTIRE LIABILITY OF KONAMI AND KONAMI'S SUPPLIERS. THE LIMITATIONS OF
LIABILITY CONTAINED IN THIS AGREEMENT ARE A FUNDAMENTAL PART OF TUE BASIS OF
EACH PARTY'S BARGAIN HEREUNDER AND NEITHER PARTY WOULD ENTER INTO THIS AGREEMENT
ABSENT SUCH LIMITATIONS.

11.  TERM AND TERMINATION.

     11.1. TERM. Unless terminated earlier pursuant to the termination
Provisions in this Section 11, this Agreement shall remain in effect for three
(3) years from the Effective Date.

     11.2. TERMINATION BY KONAMI. If any of the following circumstances occur,
Konami shall have the right to terminate this Agreement by giving written notice
to Distributor:

        11.2.1. Specific Breaches. Distributor fails to perform any of its
                obligations under or otherwise breaches Section 3 ("Delivery and
                Licenses"), Section 4 ("Restrictions and Limitations") or
                Section 8 ("Confidentiality") above or upon the change of
                control of Distributor as set forth in Section 5.9.

        11.2.2. Other Breaches. Distributor fails to pay any amounts as required
                under Section 6 ("Fees, Payments, Reports and Audits") above and
                such

                                      B-10

                failure continues for a period of ***** after receipt by
                Distributor of written notice from Konami of such failure to
                pay; or

        11.2.3. General Default. Distributor fails to perform any of its other
                obligations hereunder and such failure continues for a period of
                **** after receipt by Distributor of written notice from Konami
                specifying such default,

     11.3. TERMINATION BY DISTRIBUTOR. Distributor shall have the right to
terminate this Agreement by giving written notice to Konami if Konami fails to
perform any of its obligations hereunder and such failure continues for a period
of **** after receipt by Konami of written notice front Distributor specifying
such default.

     11.4. EFFECT OF TERMINATION. If this Agreement expires or if either party
terminates the Agreement under Section 11.2 ("Termination by Konami") or Section
11.3 ("Termination by Distributor"):

          (a) each party shall return or destroy all Confidential Information of
the other party (and copies thereof);

          (b) Distributor shall immediately cease using the Konami Trademarks,
cease marketing and distribution of the Konami Products, and discontinue all
representations that it is a Konami distributor;

          (c) Distributor shall, as directly by Konami, either return or destroy
all copies of the Konami Products in Distributor's possession and/or control;

          (d) The payment date of all monies due Konami shall automatically be
accelerated so that they shall become due and payable on the effective date of
termination or expiration of this Agreement, even if longer terms have been
provided previously; and

     Distributor shall deliver to Konami a certificate signed by an officer of
Distributor acknowledging that Distributor's obligations under this Section 11.4
have been fully satisfied. End Users shall be permitted the continued and
uninterrupted use for the balance of the term of their End User License
Agreements.

     11.5. SURVIVAL. Section 1 ("Definitions"), Section 2 ("Ownership"), Section
4,3 ("General Limitations and Restrictions"), Section 4.4 ("Trademark
Restrictions"), Section 5.5 ("Enforcement of End User License Agreements"),
Section 6 ("Fees, Payments, Reports and Audits"), Section 7 ("Disclaimer of
Warranties"), Section 8 ("Confidentiality"), Section 9 ("Indemnity and
Exceptions"), Section 10 ("Limitation of Liability"), Section 11.4 ("Effect of
Termination"), this Section 11.5 ("Survival"), and Section 12 ("General") of
these General Terms shall survive any expiration or termination of this
Agreement.

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      B-11

12.  GENERAL.

     12.1. "LICENSER CERTIFICATE" TO NINTENDO. Konami, if necessary, agrees to
execute and deliver to Distributor, and Distributor agrees to subsequently
deliver saint to Nintendo of America Inc. and Nintendo Co., Ltd., the "Licensor
Certificate" set forth in Exhibit C ("Certificate to Nintendo").

     12.2. AUDIT RIGHTS AND FURTHER ASSURANCES. Konami and its agents shall have
the right to audit the relevant books and records of Distributor and to make
reasonable inquiries of Distributor and its customers to verify Distributor's
compliance with the provisions of this Agreement. At any time upon the request
of Konami, Distributor shall promptly and duly execute and deliver any such
further instruments and documents and take such further action as Konami may
reasonably deem desirable to obtain the full benefits of this Agreement,

     12.3. GOVERNING LAW. This Agreement shall for all purposes be governed by
and interpreted in accordance with the laws of California as those laws are
applied to contracts entered into and to be performed entirely in California by
California residents. The parties agree that the United Nations Convention on
Contracts for the International Sale of Goods is specifically excluded from
application to this Agreement. Any dispute arising from this Agreement shall be
filed in a court of competent jurisdiction in San Francisco, CA.

     12.4. EXPORT CONTROL. The Konami Software is subject to the export control
laws of the United States. Distributor must comply with all applicable export
statutes and regulations, must require each End User to use the Konami Software
in accordance with all applicable export control laws, statutes and regulations,
and must. use commercially reasonable efforts not to permit any other third
party to use the Konami Software in violation of such export control laws,
statutes and regulations. Distributor acknowledges that even if Konami consents
to the use of the Konami Software outside the United States, (i) Distributor may
be required to obtain an export license prior to the export or re-export,
directly or indirectly, of the Konami Software, or any direct product of the use
thereof, or (ii) export or re-export to certain countries may be prohibited.
Distributor agrees to indemnify and hold Konami and its suppliers harmless from
any claims arising from any breach of this Section by Distributor or any of its
directors, officers, employees, customers or any third party to whom Distributor
provides access to the Konami Software.

     12.5. SEVERABILITY. If any provision of this Agreement is held by a court
of competent jurisdiction to be unenforceable for any reason, the remaining
provisions hereof shall be unaffected and remain in full force and effect,
unless the unenforceable provisions are of such essential importance to this
Agreement that it is to be reasonably assumed that the parties would not have
entered into this Agreement without such provisions.

     12.6. MODIFICATIONS. Any modification, amendment, supplement, or other
change to this Agreement must be in writing and signed by duly authorized
representatives of Konami and Distributor. As used herein, the term "Agreement"
shall include any such future modifications, amendments, supplements or other
changes hereto.

                                      B-12

     12.7. Assignments. No right or obligation of Distributor under this
Agreement shall be assigned, delegated or otherwise transferred, whether by
agreement operation of law or otherwise without the express prior written
consent of Konami and any attempt to assign, delegate or otherwise transfer any
of Distributor's rights or obligations hereunder, without such consent, shall be
void, Subject to the preceding sentence, this Agreement shall bind each party
and its permitted successors and assigns.

     12.8. WAIVERS. All waivers must be in writing. The failure of either party
to insist upon strict performance of any provision of this Agreement, or to
exercise any right provided for herein, shall not be deemed to be a waiver for
the future of such provision or right, and no waiver of any provision or right
shall affect the right of the waiving party to enforce any other provision or
right herein.

     12.9. EQUITABLE REMEDIES. The parties agree that any breach of Section 3
("Delivery and Licenses"), Section 4 ("Restrictions and Limitations") or Section
8 ("Confidentiality") above would cause irreparable injury for which no adequate
remedy at law exists; therefore, the parties agree that equitable remedies,
including without limitation injunctive relief and specific performance, are
appropriate remedies to redress any breach or threatened breach of Section 3
("Delivery and Licenses"), Section 4 ("Restrictions and Limitations") or Section
8 ("Confidentiality") above, in addition to all other remedies available to the
parties.

     12.10. RIGHTS AND REMEDIES. All rights and remedies hereunder shall be
cumulative, may be exercised singularly or concurrently, and shall not be deemed
exclusive except as provided in Section 9 ("indemnity and Exceptions") above, if
any legal action is brought to enforce any obligations hereunder, the prevailing
party shall be entitled to receive its attorneys' fees, court costs and other
collection expenses, in addition to any other relief it may receive.

     12.11. Force Majeure. Konami shall not be responsible for any failure to
fulfill its obligations hereunder due to causes beyond its reasonable control,
including without limitation acts or omissions of government or military
authority, acts of God, shortages of materials, transportation delays, fires,
floods, labor disturbances, riots or wars.

     12.12. CONSTRUCTION. The headings and subheadings contained herein shall
not be considered a part of this Agreement. This Agreement may be executed in
several counterparts, all of which shall constitute one agreement.

     12.13. NOTICES. Any notice or communication permitted or required hereunder
shall be in writing and shall be delivered in person or by courier or sent by
electronic facsimile (fax), and addressed as set forth after the signatures to
this Agreement or to such other address as shall be even in accordance with this
Section 12.13. All notices hereunder shall be effective upon receipt.

     12.14. RELATIONSHIP BETWEEN PARTIES. Konami and Distributor shall at all
times and for all purposes be deemed to be independent contractors and neither
party, nor either parry's employees, subcontractors ~r agents, shall have the
right or power to bind the other party. This Agreement shall not create or be
deemed to create a joint venture, partnership or other similar association
between Konami and Distributor or any of either party's employees,
subcontractors

                                      B-13

or agents. Each of Konami's suppliers is a beneficiary of this Agreement and
each shall have the right to enforce its terms against Distributor.

     12.15. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter hereof, and supersedes
all prior agreements between the parties, whether written or oral, relating to
the same subject mailer,

                                      B-14

                                    EXHIBIT C

                             CERTIFICATE TO NINTENDO

                                      C-1

                             CONFIDENTIAL TREATMENT

                  AMENDMENT TO SOFTWARE DISTRIBUTION AGREEMENT

This amendment ("Amendment"), entered into as of April 25, 2002, is to the
Software Distribution Agreement ("Agreement"), dated April 8, 2002, between
Konami of America, Inc. ("Konami") and Majesco Sales Inc. ("Distributor")
(collectively the "parties"). The parties agree to amend the Agreement as
follows.

     A.   EXHIBIT A SPECIAL TERMS

          1.   SECTION 1(a) DESCRIPTION OF TERRITORY: delete the territory of
               Mexico.

          2.   SECTION 1(b) RESTRICTIONS. Subsection (1) is amended to:
               Distributor shall have the right to market and distribute the
               Konami Products only to End Users located in the Territory by
               means of Customary Retail Channels. Except that the Konami
               Software titled Konami Krazy Racers may not be sold to Customary
               Retail Channels in Canada.

          3.   SECTION 2 KONAMI SOFTWARE is amended to:
               Castlevania-Circle of the Moon (AGB)
               Froggers Adventure: Temple of the Frog (AGB)
               Gradius (AGB)
               Konami Krazy Racers (AGB)
               (All other titles and terms arc deleted.)

          4.   SECTION 3 KONAMI TRADEMARKS is amended to:
               Konami (logo and name mark)
               Castlevania-Circle of the Moon
               Frogger's Adventure: Temple of the Frog
               Gradius
               Konami Krazy Racers

          5.   SECTION 4 (a) AMOUNT, subsection 2 is deleted.

          6.   SECTION 4 (a) TERMS is amended to:

               The minimum payment set forth, in this Section 4(a) shall be due
               and payable in accordance with the following schedule:

               Date Due and Payable                   Amount

               Effective Date                         ****(*)

               **** after first shipment              ****

          7.   SECTION 4(b) ADDITIONAL ROYALTIES/PURCHASE OF GOODS, AMOUNT;
               subsections 2, 3 and 5 are deleted.

          8.   SECTION 4(b) ADDITIONAL ROYALTIES/PURCHASE OF GOODS, AMOUNT;
               subsection 1 is amended to:

               Distributor shall pay Konami a non-refundable royalty of **** for
               each copy of the Konami Software (Gradius and Konami Krazy
               Racers) sold by Konami to Distributor in excess of **** copies
               (combined sales). Distributor shall pay Konami a non-refundable
               royalty of **** for each copy of the Konami Software (Frogger and
               Castlevania) sold by Konami to Distributor in excess of ****
               (combined sales). Royalties shall not be reduced due to the
               return (for any reason) of any copies o the Konami Software to
               Distributor or by any had debt.

          9.   SECTION 4(b) ADDITIONAL ROYALTIES/PURCHASE OF GOODS, TERMS is
               amended to:

               The royalties set forth in this Section 4(b) shall accrue ****.
               Distributor shall pay such accrued royalties ****.

          10.  SECTION 4(b) ADDITIONAL ROYALTIES/PURCHASE OF GOODS, PURCHASE OF
               GOODS is amended to:

               Distributor shall submit an order for Konami Software to Konami
               along with payment. for the cost of goods from Nintendo and the
               royalties set forth in Section 4(b) for the Konami Software.
               Konami shall purchase the Konami Software from Konami Corporation
               and immediately transfer title to the Konami Software to
               Distributor. Distributor shall arrange for shipping of the Konami
               Software from the Nintendo of America replication facility.
               Konami shall issue an invoice to Distributor showing payment for
               the Konami Software.

     B.   EXHIBIT B GENERAL TERMS

               1.   SECTION 2. OWNERSHIP second sentence is deleted.

               2.   SECTION 4.1 USE OF KONAMI TRADEMARKS is amended to: Subject
                    to the terms arid conditions of this Agreement, Konami
                    hereby grants to Distributor a non-exclusive, limited
                    license to use the Konami Trademarks on Distributor's
                    advertising and printed materials only for the Konami
                    Products. Distributor shall, prior to its use of such
                    advertising and printed materials, submit such

----------

* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                      2

                    advertising and printed materials to Konami and obtain
                    Konami's prior written approval thereof. Distributor shall
                    display notices of trademark status (i.e., (R) or TM as
                    prescribed by Konami from time to time) adjacent to each use
                    of Konami Trademarks on each piece of advertising or printed
                    materials in which such Konami Trademark appears.
                    Distributor shall also include as a footnote to the Konami
                    Trademarks along with the first or most prominent use of
                    each Konami Trademark in each piece of advertising or
                    printed materials in which such Konami Trademark appear:
                    "[Mark] is a trademark of Konami Corporation, which may be
                    registered in certain jurisdictions," and such other symbols
                    and notices as may be prescribed by Konami from time to
                    time. Distributor will include the Konami Trademark in all
                    advertisements, brochures, manuals or other appropriate
                    materials used in the promotion, distribution or use of the
                    Konami Products.

               3.   SECTION 5.3 PROMOTIONAL ACTIVITIES is amended to:
                    Distributor, at its own expense, shall prepare such
                    materials as are reasonable and appropriate for the
                    successful marketing of the Konami Products, including
                    product descriptions and promotional and marketing
                    materials. Distributor shall, prior to the use of such
                    promotional and marketing materials, obtain Konami's written
                    approval thereof. Konami reserves the right to reasonably
                    request Distributor to change any references to the Konami
                    Products in such materials and upon receipt of such request,
                    Distributor shall promptly so change such materials.
                    Distributor acknowledges and agrees that Distributor cannot
                    use the Third Party Properties for the promotional and
                    marketing materials without obtaining Third Party Licensor's
                    approval thereof.

               4.   SECTION 9.3 DISTRIBUTOR GENERAL INDEMNITY, subsection (b) is
                    amended to: (b) claims and damages due to the failure by
                    Distributor to make all necessary payments to any third
                    party as required for the promotion, distribution and sales
                    of the Konami Products, and...

                                       3

All other terms and conditions of the Agreement, except as previously amended,
shall remain the same and in full force and effect.

Konami of America, Inc.

By:
   --------------------------------------------------
Print Name:
Title:

Majesco Sales, Inc.

By:
   --------------------------------------------------
Print Name:
Title:

                                       4CONFIDENTIAL TREATMENT

                                LICENSE AGREEMENT

         This LICENSE AGREEMENT (this "Agreement") is made this 30th day of
April, 2002 by and between Namco Hometek Inc., a corporation organized pursuant
to the laws of the State of Delaware, whose address is 2055 Junction Avenue, San
Jose, California 95131 (hereinafter referred to as "Licensor") and Majesco
Sales, Inc., a corporation organized pursuant to the laws of the State of New
Jersey, whose address is 244 Fernwood Avenue, Edison, New Jersey 08837
(hereinafter referred to as "Licensee").

         The parties hereto agree as follows:

         1. Definitions. As used in this Agreement the following terms shall
have the following respective meanings:

            (a) "Licensed Materials": The original images, characters, game
designs, dialog and audio-visual representations embodied in certain interactive
entertainment software otherwise known as "PAC-MAN COLLECTION" and "NAMCO
MUSEUM".

            (b) "Licensed Products": Pre-existing master cartridges to be
delivered by Licensor to Licensee for the video games "PAC-MAN COLLECTION" and
"NAMCO MUSEUM" compatible with the Nintendo Gameboy Advance video game hardware
system.

            (c) "Territory": North America.

            (d) "Term": The term of the license hereby granted shall commence as
of the date of this Agreement and shall continue until December 31, 2003, unless
terminated sooner as provided herein.

            (e) "Guaranteed License Fee": Licensee agrees to pay Licensor an
advance and guarantee license fee of ***** payable upon the full execution of
this Agreement and the remaining **** payable within ten (10) business days of
the earlier of the first commercial shipment of either Licensed product or
December 31, 2002.

            (f) "Royalty Rate": Licensee agrees to pay Licensor per unit royalty
of **** per unit for each manufactured unit of the Licensed Product during the
term of this Agreement. Licensee agrees to: (i) within **** days of the end of
the month in each calendar quarter provided Licensor with a royalty report and
payment the manufacture of License Products during that quarter; (ii) maintain
all books and records related to the manufacture of the Licensed Products at
Licensee's principal place of business; (iii) permit Licensor to audit
Licensee's books and records once per year upon providing no less than two weeks
written notice; (iv) immediately pay Licensor any underpayment of royalties and
Licensor's reasonable audit fees should said audit disclose an underpayment
exceeding **** of the amount due to Licensor; (v) Licensee may
cross-collateralize any royalty payments due to Licensor for the sale of "NAMCO
MUSEUM" and "PAC-MAN COLLECTION"; and (vi) Licensor shall be solely responsible
for

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

paying any fees or royalties otherwise due from Licensor to any third party for
the development of the Licensed Products.

2. Grant of License.

            (a) Upon the terms and conditions set forth in this Agreement,
Licensor hereby grants to Licensee and Licensee hereby accepts for the Term of
this Agreement, a non-transferable license to manufacture, promote, distribute
the Licensed Products for the ultimate retail to the public throughout the
Territory arid to use the Licensed Materials solely in connection therewith, but
in no event shall Licensee be allowed to distribute or sell the Licensed
Products before September 1, 2002. Such license shall be exclusive only with
respect to the distribution of the Licensed Products in the Territory during the
Term. Licensee shall have no rights to the Licensed Products or the Licensed
Materials except as expressly set forth in this Agreement.

            (b) The manufacturing and distribution rights granted by Licensor to
Licensee pursuant to subparagraph 2(a) above shall be subject to the following
limitations:

                (i) Licensee shall be solely responsible for obtaining, and
shall obtain, all approvals, consents and permissions which may be required from
Nintendo Ltd., Nintendo of America, Inc. or any affiliate thereof (collectively
"Nintendo") and shall at all times comply with all requirements and guidelines
of Nintendo with respect to the Licensed Products and the manufacture,
advertising, promotion, distribution and sale thereof hereunder; and

            (c) Licensee specifically understands and agrees that no rights are
granted herein with respect to any trademark(s), logo(s) or copyrights owned or
licensed by Licensor other than those specifically included in the Licensed
Materials, it being understood that, except as expressly provided to the
contrary herein, all rights in and to said properties are reserved exclusively
to Licensor for use and/or licensing as it deems appropriate to third party(ies)
of its choice.

            (d) Licensee shall have no rights whatsoever to use, distribute, or
otherwise exploit the Licensed Products, the Licensed Materials or the
Promotional Material (as defined below) after the expiration of the Term hereof
(as the Term may be extended by mutual written agreement) -

         3. Consideration. In consideration of the license granted to Licensee
hereunder, Licensee shall pay. to Licensor the License The in full, without
deductions of any type or kind, on or before the date which is the later of
***** days following the later of (i) the date of this Agreement and (ii)
Licensor's delivery to Licensee of the master of the Licensed Products.

         4. Reservation of Rights; Premiums.

            (a) Licensor reserves all rights not expressly conveyed to Licensee
hereunder, and, notwithstanding anything to the contrary contained herein,
Licensor may exploit, and grant

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       2

licenses to others to exploit, (i) the Licensed Products outside of the
Territory at any time or in the Territory after the Term, (ii)Licensed Materials
in connection with any products or services whatsoever other than the Licensed
Products, including without limitation other "NAMCO MUSEUM," "PAC-MAN" or "MS.
PAC-MAN" video games, and (iii) any "NAMCO MUSEUM," "PAC-MAN" or "MS. PAC-MAN"
video games designed for use on any hardware platform other than Nintendo
Gameboy Advance.

            (b) Licensee agrees that it will not use, or knowingly permit the
use of, and will exercise due care that its Customers (as defined in Paragraph
12 below) likewise will refrain from the use of, the Licensed Products as a
premium, except with the prior written consent of Licensor (which consent
Licensor. may grant or withhold in its absolute discretion). For purposes of
this Paragraph 4(b), the term "premium" shall be defined as including but not
necessarily limited to, free or self-liquidating items offered to the public in
conjunction with the sale or promotion of a product or service, including
traffic building or continuity visits by the consumer/Customer, or any similar
scheme or device the prime intent of which is to use the Licensed Products in
such a way as to promote, publicize and/or sell the products, service or
business image of the user of such item.

         5. Master Material from Licensor. Licensor shall provide Licensee with
***** master cartridge which Licensee shall duplicate exactly to manufacture the
Licensed Products, and master artwork and packaging material which Licensee
shall duplicate exactly to manufacture the packaging for the Licensed Products.
Such master tapes, artwork and packaging material are collectively referred to
herein as the "Master Material". Licensee shall in no way depart from or modify
the Master Material during the manufacture, distribution and/or sale of the
Licensed Products or such packaging, except with the prior written approval of
Licensor as set forth in Paragraph 11 below,

         6. Indemnifications. (a) During the Term, and continuing after the
expiration or termination of this Agreement, Licensor shall indemnify Licensee
and shall hold it harmless from any loss, liability, damage, cost or expense
arising out of any claims or suits which may be brought or made against Licensee
by reason of the material breach of Licensor's warranties or representations as
set forth in Paragraph ___ hereof, provided that Licensee shall give prompt
written notice and full cooperation and assistance to Licensor relative to any
such claim or suit, and provided further, that Licensor may elect, but shall not
have the obligation, to undertake and conduct the defense of any suit so
brought. Licensee shall cooperate fully in all respects with Licensor in the
conduct and defense of said suit and/or proceedings related thereto.

            (b) During the Term, and continuing after the expiration or
termination of this Agreement, Licensee shall indemnify Licensor (which shall
include for purposes of this subparagraph Licensor's affiliated companies and
its and their officers, directors, employees and representatives) and shall hold
it harmless front any loss, liability, damage, cost or expense arising out of
any claims or suits which may be brought or made against Licensor (i) by reason
of (A) any breach of Licensee's covenants and undertakings hereunder, including
without limitation those set forth in Paragraphs 2(b) and hereof, (B) any
unauthorized use of the Licensed Products or the Licensed Materials, (C) any use
of any trademark, copyright, design, patent, process,

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       3

method or device, except for those users of the Licensed Materials that are
specifically approved by Licensor pursuant to the terms of this Agreement, (D)
Licensee non-compliance with any applicable federal, state or local law or with
any other applicable regulations, (E) any alleged __________ and/or inherent
dangers (whether obvious or hidden) in the Licensed Products or the use thereof,
or (ii) by Nintendo base on a claim that Licensee or any permitted sublicensee
or subcontractor does not have the right to manufacture, or have manufactured,
the Licensed Products in a format compatible with the Nintendo Game System.

            (c) With regard to 9(b)(i)(E) above, Licensee agrees to obtain, at
its own expense, product liability and advertising insurance providing adequate
protection for Licensor and Licensee against any such claims or suits in amounts
no less than Two Million Dollars ($2,000,000) per occurrence, combined single
limits. Promptly following the execution of this Agreement, Licensee undertakes
to submit to Licensor fully paid policies or certificates of insurance naming
Licensor as an additional insured party and requiting that the insurer(s) shall
not terminate or materially modify such without written notice to Licensor at
least twenty (20) days in advance thereof.

         7. Artwork; Copyright and Trademark Notices. (a) The Licensed Materials
shall be displayed or used only in such form and in such manner as the Licensed
Materials appears in the Master Material provided by Licensor to Licensee. Any
departure from or modification to the Master Material shall be subject to
Licensor's prior written approval as set forth in Paragraph 11 below, and
Licensee undertakes to assure usage of the Licensed Materials solely as approved
hereunder.

            (b) Licensee acknowledges that, as between Licensor and Licensee,
the Licensed Products, the Licensed Materials and all copyrights, trademarks and
other proprietary rights in and t the Licensed Products and the Licensed
Materials are owned exclusively by Licensor or its licensees. Licensee
acknowledges that its use of the copyrights and trademarks licensed to it
hereunder inures to the benefit of Licensor or its licensees, an that Licensee
will not acquire any rights to the Licensed Products or the Licensed Materials,
or such relevant copyrights or trademarks, other than as licensed herein.
Notwithstanding anything to the contrary contained herein, it is acknowledged by
the parties that Namco Ltd. owns the Licensed Materials and that Licensor has
licensed from Namco Ltd. the rights in the License Materials necessary to enter
into this agreement with Licensee. Licensee acknowledges that Licensor shall
have the right to terminate this Agreement in the event Licensee asserts any
right (other then those granted pursuant to this Agreement) in or to the
Licensed Products or the Licensed Materials. Without limiting the generality of
the foregoing, the Master Material provided by Licensor to Licensee pursuant to
Paragraph C hereto is provided to Licensee solely for purposes of manufacturing,
advertising, promoting and selling the Licensed Products as permitted hereunder,
and all rights (arising under copyright or trademark law, or otherwise) in and
to the Master Material (including, without limitation, all rights to the
particular copies provided to Licensee and to all underlying property, tangible
or intangible, embodied therein) shall remain the sole and exclusive property of
Licensor. Licensee further agrees and acknowledges that Licensor shall own the
copyright and other proprietary rights in any and all artwork and other
derivative works that incorporate the Licensed Materials (it being agreed that
Licensee shall have no right to modify the Licensed Products or otherwise to
create derivative works incorporating the Licensed Materials except in
connection with creating Promotional Material (as defined

                                       4

herein) for the advertising and promotion of the Licensed Products as approved
in writing by Licensor). At the request of Licensor, Licensee shall execute such
form(s) of assignment of copyright in any such derivative works based in whole
or in part upon the Licensed Materials as Licensor may reasonably request. If
any third party makes or has made any contribution to the creation of any such
derivative work authorized for use hereunder, Licensee agrees to obtain from
such party a full assignment of rights and/or acknowledgement, of work-for-hire
status so that the foregoing assignment by Licensee shall vest full rights in
Licensor.

            (c) The Licensee shall cause to be imprinted, irremovably and
legibly on each copy of the Licensed Products manufactured, distributed or sold
under this Agreement, and all advertising, promotional, packaging and wrapping
material wherein the Licensed Materials appears, the following as directed by
Licensor:

                (i) The appropriate copyright notices, as directed and in each
instance specified by Licensor.

                (ii) The appropriate trademark notices with respect to the
Licensed Materials (and any component thereof) as specified in each instance by
Licensor.

            (d) In no event shall Licensee use, in respect to the Licensed
Products and/or in relation to any advertising, promotional, packaging or
wrapping material, any copyright or trademark notices which shall conflict with,
be confusing with, or negate, any notices required hereunder by Licensor in
respect to the Licensed Materials.

            (e) Licensee agrees to deliver to Licensor ***** of each the
Licensed Products together with their packaging and wrapping material for
trademark registration purposes in compliance with applicable laws,
simultaneously upon distribution to the public. Licensee further agrees to
provide Licensor with the date of the first use of the Licensed Products in
interstate and intrastate commerce.

            (f) Licensee shall assist Licensor, at Licensor's expense, in the
procurement, protection and maintenance of Licensor's rights to the Licensed
products and the Licensed Materials. Licensor may, but shall not have the
obligation to, in its sole discretion, commence or prosecute and effect the
disposition of any claims or suits relative to the imitation, infringement
and/or unauthorized use of the Licensed products and Licensed Materials either
in its own name, or in the name of Licensee, or join Licensee as a party in the
prosecution of such claims or suits. Licensee agrees to cooperate fully with
Licensor in connection with any such claims or suits and undertakes to furnish
full assistance to Licensor in the conduct of all proceedings in regard thereto.
Licensee shall promptly notify Licensor in writing of any infringements or
imitations or unauthorized uses by others of the Licensed Products or the
Licensed Materials. Licensor shall in its sole discretion have the right to
settle or effect compromises in respect thereof.

         8. Approvals and Quality Controls. (a) Licensee agrees to comply and
maintain compliance with the quality standards and specifications of Licensor in
respect to all uses of the Licensed products and the Licensed Materials on or in
relation to the Licensed products

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       5

throughout the Term and any extension thereof. Licensee agrees to furnish to
Licensor ***** of the Licensed products, together with all artwork, packaging,
instructional and similar materials associated therewith. Licensor shall have
full prior approval rights over all elements of the Licensed products and
packaging and any Promotional Material therefor, including, without limitation,
all artwork, images, dialogue, sound, music and text contained therein or
thereon.

            (b) Neither the Licensed Products nor any material whatsoever
utilizing the Licensed Materials shall be manufactured, sold, distributed or
promoted by Licensee without prior written approval as contemplated under the
terms of this Agreement. Licensee may, subject to Licensor's prior written
approval use textual and/or pictorial matter pertaining to the Licensed
Materials on such promotional, display and advertising material (collectively,
the "Promotional Material") as may, in Licensee's reasonable judgment, promote
the sale of the Licensed products.

            (c) Approval or disapproval shall lie in Licensor's sole discretion
and shall be exercised as follows: (i) any approval by Licensor hereunder shall
be effective only if given in writing by an authorized officer of Licensor; (ii)
approval or disapproval of the Licensed Products pursuant to subparagraph 11(a)
above shall be provided in writing by Licensor within **** of Licensor's receipt
of the samples of the Licensed Products; (iii) approval or disapproval of any
Promotional Material pursuant to subparagraph 11(b) above shall be provided in
writing by Licensor within **** of Licensor's receipt of said Promotional
Material. Licensor shall be deemed to have approved artwork for packaging and
Promotional Material actually provided by an authorized officer of Licensor to
the extent such artwork is used only for the purposes for which such artwork was
expressly provided. If pursuant to this subparagraph Licensor disapproves of the
Licensed Products and/or any Promotional Material, Licensee shall make such
changes in the aforesaid as is necessary to secure Licensor's approval, as the
case may be, and shall, at Licensor's request, resubmit the Licensed Products
and/or the Promotional Material for Licensor's approval in accordance with the
preceding procedure. Any Licensed Products or Promotional Material not approved
in writing shall be deemed disapproved and unlicensed and shall not be
manufactured, sold, distributed, or otherwise exploited. If the Licensed
Products is being manufactured, sold or shipped and has not been approved by
Licensor, and/or any promotional Material that has not been approved is
distributed by Licensee, Licensor may, together with other remedies available to
it including, but not limited to, immediate termination of this Agreement,
require such Licensed Products and/or Promotional Material to be immediately
withdrawn from the market and all copies thereof to be destroyed, such
destruction to be attested to in a certificate signed by an authorized agent of
Licensee.

            (d) Any modification of the Licensed Products must be submitted in
advance for Licensor's prior written approval in accordance with subparagraphs
11(b) and 11(c) above, as applicable, as if it were a new Licensed Products.

            (e) The Licensed Products must conform in all material respects to
the final production samples approved by Licensor. If in Licensor's reasonable
judgment the quality of the Licensed Products originally approved has
deteriorated in later production runs, or if the Licensed Products has otherwise
been altered, Licensor may, in addition to other remedies

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       6

available to it, require that the Licensed Products be immediately withdrawn
from the market,. In the event of such deterioration, Licensor shall supply
Licensee, promptly following Licensee's written request, with a new master of
the Licensed Products by which to permit Licensee to manufacture copies pursuant
to the terms of this Agreement.

            (f) Licensee shall permit Licensor, upon reasonable notice, to
inspect Licensee's or its designee's manufacturing operations and testing
records (including those operations and records of any supplier or manufacturer
approved pursuant to Paragraph 12 below) with respect to the Licensed Products.

            (g) If any changes or modifications are required to be made to any
material submitted to Licensor for its prior written approval in accordance with
this Paragraph 11 in order to ensure compliance with Licensor's specifications
or standards of quality, Licensee agrees promptly to make such changes or
modifications. Subsequent to final approval, no fewer than ***** of the Licensed
Products will be sent to Licensor, to ensure quality control, simultaneously
upon distribution to the public.

            (h) To avoid confusion of the public, Licensee agrees not to
associate other characters or licensed properties with the Licensed Materials on
the Licensed Products or in the Promotional Material unless Licensee receives
Licensor's prior written approval. Furthermore, Licensee agrees not to use the
Licensed Materials (or any component thereof) on any business sign, business
cards, stationery or forms, nor to use the Licensed Materials as part of the
name of Licensee's business or any division thereof.

         9. Distribution; Sublicense Manufacture. (a) Licensee shall sell the
Licensed Products **** retail locations within the Territory (the "Customer")
for sale directly to the public.

            (b) Licensee shall not be entitled to sublicense any of its rights
under this Agreement without the express prior written approval of Licensor in
each instance. In the event Licensee is not the manufacturer of the Licensed
Products Licensee shall, subject to the prior written approval of Licensor
(which approval shall not be unreasonably withheld), be entitled to utilize a
third-party manufacturer in connection with the manufacture and production of
the Licensed Products, provided that such manufacturer shall execute a letter in
the form of Exhibit 1. attached hereto and by this reference made a part hereof.
In no event shall any such sublicense agreement include the right to grant any
further sublicenses.

         10. Goodwill. Licensee recognizes the great value of the publicity and
goodwill associated with the Licensed Materials and acknowledges (i) such
goodwill is exclusively that of Licensor and (ii) that the Licensed Materials
has acquired a secondary meaning as Licensor's trademarks and/or identifications
in the mind of the purchasing pub1ic. Licensee further recognizes and
acknowledges that a breach by Licensee of any of its covenants, agreements or
undertakings hereunder will cause Licensor irreparable damage, which may not be
readily remedied in damages in an action at law, and may, in addition thereto,
constitute an infringement of Licensor's copyrights, trademarks and/or other
proprietary rights in and to the Licensed

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       7

Materials, thereby entitling Licensor to equitable remedies and costs in
addition to any other rights or remedies Licensor may have hereunder at law or
in equity. Licensee expressly acknowledges and agrees that under no
circumstances will Licensee be entitled to rescind any rights granted under this
Agreement or to injunctive or other equitable relief in connection with this
Agreement., Licensee's sole remedy in the event of any breach of this Agreement
being an action for monetary damages.

         11. Licensor's Warranties and Representations. Licensor represents and
warrants to Licensee that, subject to Licensee's complying with Paragraph 2(b)
hereof and the other terms and conditions of this Agreement:

             (a) It has, and will have throughout the term of this Agreement,
the right to license the Licensed products and the Licensed Materials to
Licensee in accordance with the terms and provisions of this Agreement; and

             (b) The making of this Agreement by Licensor does not violate any
agreements, rights or obligations existing between Licensor and any other
person, firm or corporation.

12. Specific Undertakings of Licensee. During the Term and thereafter, Licensee
agrees that:

             (a) It will not attack the title of Licensor in and to the Licensed
products, the Licensed Materials or any copyright or trademark pertaining
thereto, nor will it attack the validity of the license granted hereunder;

             (b) It will not harm, misuse or bring into disrepute the Licensed
Products or the Licensed Materials, but on the contrary, will maintain the value
and reputation thereof to the best of its ability;

             (c) It will manufacture, sell, promote and distribute the Licensed
Products in an ethical manner and in accordance with the terms and intent of
this Agreement, and in compliance with all applicable government regulations and
industry standards;

             (d) It will not create any expense chargeable to Licensor;

             (e) It will protect to the best of its ability its right to
manufacture, sell, promote and distribute the Licensed Products hereunder;

             (f) It will at all times comply with all government laws and
regulations, including but not limited to product safety, food, health, drug,
cosmetic, sanitary or other similar laws, and all voluntary industry standards
relating or pertaining to the manufacture, sale, advertising or use of the
Licensed products, and shall maintain its appropriate customary high quality
standards. It shall comply with any regulatory agencies which shall have
jurisdiction over the Licensed Products and shall procure and maintain in force
any and all permissions, certifications and/or other authorizations from
governmental and/or other official authorities that may be required, except it
shall not be Licensee's responsibility to procure such permissions,
certifications and/or other authorizations with respect to the Licensed
Materials or other content

                                       8

of the Licensed Products. The Licensed Products and all components thereof shall
comply with all applicable laws, regulations and voluntary industry standards.
Licensee shall follow reasonable and proper procedures for testing that the
Licensed Products complies with such laws, regulations and standards. Upon
reasonable notice, Licensee shall permit Licensor or its designees to inspect
any such testing records and procedures with respect to the Licensed Products
for compliance. If the License Products does not comply with all applicable
laws, regulations and standards, then it shall automatically be deemed
unapproved;

             (g) It will, pursuant to Licensor's instructions, duly take any and
all necessary steps at Licensor's expense which shall be limited to
reimbursement for actual out-of-pocket costs to secure execution of all
necessary documentation for the recordation of itself as user of the Licensed
Materials in any jurisdiction where this is required or where Licensor
reasonable requests that such recordation shall be effected. Licensee further
agrees that it will, at Licensor's expense cooperate wit Licensor in
cancellation of any such recordation at the expiration of this Agreement or upon
termination of Licensee's right to use the Licensed Materials. Licensee hereby
appoints Licensor its Attorney-in-fact for such purpose; and

             (h) It shall not, and it shall cause its permitted sublicensees and
its Customer to not advertise in any media, including, but not limited to trade,
consumer and co-op advertisements, that the Licensed products contains the
original Pac-Man game or the original Ms. Pac-Man game or any statement or
indication to that effect. In the event Licensee, any permitted sublicensee or
any Customer violates this advertising prohibition, Licensee shall be in
material breach of this Agreement and Licensor shall be entitled, in its sole
discretion (and in addition to any other rights and remedies it may have) at any
time thereafter, to terminate this Agreement as set forth in Paragraph 16 below
and proceed against Licensor for damages.

         13. Termination. Licensor shall have the right to terminate this
Agreement without prejudice to any rights which it may have, whether pursuant to
the provisions of this Agreement or otherwise in law, or in equity, or
otherwise, upon the occurrence of any one or more of the following events
(herein called "defaults"):

             (i) Licensee shall have failed to deliver to Licensor or to
maintain in full force and effect the insurance referred to in subparagraph
___(c) hereof;

             (ii) If Licensee shall fail to make any payments due hereunder on
the date due or within ten (10) days thereafter;

             (iii) If Licensee shall fail to comply with any laws, regulations
or voluntary industry standards as provided in Paragraph 15(f) or if any
governmental agency or other body, office or official vested with appropriate
authority finds that the Licensed products is harmful or defective in any way,
manner or form, or, is being manufactured, sold or distributed in contravention
of applicable laws, regulations or standards, or in a manner likely to cause
harm;

             (iv) If Licensee shall sell or distribute, whichever first occurs,
the Licensed products or any Promotional Material without the prior written
approval of Licensor as provided in Paragraph 11 hereof;

                                       9

             (v) If Licensee shall fail to comply with any applicable
requirements or guidelines of Nintendo as provided in Paragraph 2(b)(i);

             (vi) If Licensee, its permitted sublicensees or Customer violates
the advertising prohibitions set forth in Paragraph 15(j) above; or

             (vii) If Licensee otherwise defaults in the performance of any of
its obligations provided for in this Agreement.

             (b) In the event any of these defaults occur and Licensor in its
sole discretion elects to terminate this Agreement, Licensor shall give notice
of termination in writing to Licensee. Licensee shall have ***** from the date
of giving notice in which to correct any of these defaults (except with respect
to the default referenced in Paragraph 16(a)(x) above, which the parties agree
is not capable of cure), as to any default which is curable with the payment of
money and **** as to any other default. If any such nonmonetary default cannot
reasonably be cured within such **** periods and provided that (i) Licensee
commences to cure such default within such **** period and thereafter diligently
and continuously prosecutes the same and (ii) Licensor is not adversely affected
by such further extension, such **** period shall be extended for an additional
**** period. Failing a timely cure as aforesaid, this Agreement shall thereupon
immediately terminate, and any and all payments then or later due from Licensee
hereunder shall then be promptly due and payable and no portion of prior
payments shall be repayable to Licensee. In addition, Licensee must provide to
Licensor, within **** from an event of default hereunder, or Licensee's failure
to cure said default within the time periods hereinabove set forth (if
applicable), copies of all Promotional Material then in Licensee's possession or
under Licensee's control, and all masters, prints, negatives or other materials
necessary to make such Promotional Materials, in addition to all such materials
necessary to manufacture the Licensed products.

             (c) Licensee shall have the right to terminate this Agreement if
Licensor is in material breach of any of. its warranties or representations
hereunder. In the event of any such material breach, Licensee shall give notice
of termination (if Licensee elects to terminate) in writing to Licensor.
Licensor shall have **** from the date of giving notice in which to correct any
such material breach. If any such material breach cannot reasonably be cured
within such **** period, and provided that Licensor commences to cure such
material breach within such **** period and thereafter diligently and
continuously prosecutes the same, such **** period shall be extended for an
additional **** period. In no event shall Licensee's termination hereunder
entitle Licensee to a refund of any portion of the License Fee, except if
Licensor was in material default hereof and it is finally adjudicated by a court
of competent jurisdiction that such default caused Licensee damages in the
amount of such refund.

         14. Final Statement upon Termination or Expiration. Licensee shall
deliver, as soon as practicable but not later than **** following the expiration
or termination of this Agreement1 a statement indicating the number of copies of
the Licensed products on hand together with a description of all promotional
materials. following expiration or termination, Licensee shall cease to
manufacture, sell, distribute or otherwise exploit the Licensed Products or the

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       10

Promotional Material. However, if Licensee has complied with all the terms of
this Agreement1 including, but not limited to, complete and timely payment of
the License Fee, then Licensee may continue to distribute and sell its remaining
inventory for a period not to exceed ***** following such termination or
expiration. The promotional Material may not be used or distributed in any
manner by Licensee after the expiration or termination of this Agreement.

         15. Disposition of property Upon Default. In the event this Agreement
is terminated by Licensor due to a default by Licensee, Licensee shall be deemed
to have forfeited its sell-off rights pursuant to Paragraph 17 hereof. In such
event, Licensee shall, at Licensor's election, make available such inventory
(i.e., the Licensed products only) to Licensor for purchase at or below cost;
deliver up to Licensor for destruction said remaining inventory; or furnish to
Licensor an affidavit attesting to the destruction of said remaining inventory.
If said inventory is delivered up to Licensor, Licensor may sell or otherwise
exploit said inventory in its sole discretion. Licensor shall have the right to
conduct a physical inventory in order to ascertain or verify such inventory. In
addition to the forfeiture of sell-off rights and other remedies set forth
above, Licensor shall have recourse to all other legal remedies available to it.
In addition, in the event of such default by Licensee, Licensee shall, at
Licensee's election, either deliver up to Licensor, or destroy (with a
certificate of destruction signed by an officer of Licensee to be delivered to
Licensor promptly upon such destruction), all Promotional Material in Licensee's
possession or otherwise obtainable by Licensee.

         16. Notices. Except as otherwise specifically provided herein, all
notices which either party hereto is required or may desire to give to the other
shall be given by addressing the same to the other at the address set forth
above, or at such other address as may be designated in writing by any such
party in a notice to the other given in the manner prescribed in this paragraph.
All such notices shall be sufficiently given five (5) business days after the
date when the same shall be deposited so addressed, postage prepaid, in the
united states mail (registered or certified return receipt requested) and/or on
the date when the same shall have been transmitted via facsimile and/or
delivered, correctly addressed, to a telegraph or cable company toll- prepaid.

         17. No Partnership, Etc. This Agreement does not constitute and shall
not be construed as a constitution of a partnership or joint venture between
Licensor and Licensee. Neither party shall have any right to obligate or bind
the other party in any manner whatsoever, and nothing herein contained shall
give1 or is intended to give, any rights of any kind to any third persons.

         18. Confidentiality. Neither Licensor nor Licensee nor their respective
affiliated companies shall disclose to any third party (other than their
respective employees, directors, officers, attorneys and agents on a
need-to-know basis) the subject matter and terms and conditions of this
Agreement, except to the extent this Agreement becomes a matter of public record
or otherwise solely to the extent required by law or financial disclosure
requirements. Further, Licensor and Licensee both acknowledge that Licensor and
Licensee may find it necessary to provide to the other party certain
confidential information ("Confidential Information") that the disclosing party
considers proprietary. Each party agrees to keep confidential all confidential
Information disclosed to it by the other party, and identified as such

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       11

by the disclosing party, and to protect the confidentiality thereof in the same
manner it protects the confidentiality of similar information of its own (at all
times exercising at least a reasonable degree of care in the protection of
confidential Information) provided, however, that neither party shall have any
such obligation with respect to use or disclosure to third parties of such
Confidential Information as can be established to: have been known publicly;
have been generally known in the industry before communication by the disclosing
party to the recipient; have become known publicly, without fault on the part of
the recipient, subsequent to disclosure by the disclosing party. Notwithstanding
the foregoing, nothing herein shall prevent a recipient from disclosing all or
part of the Confidential Information that it is legally compelled to disclose
(by oral deposition, interrogatories, request for information or documents,
subpoena, civil investigative demands, or any other process); provided, however,
that before any such disclosure the recipient shall notify the disclosing party
in writing of any such order or request to disclose and cooperate with the
disclosing party (at the disclosing party's cost) with respect to any procedure
sought to be pursued by the disclosing party in protecting against such
disclosure. Upon the expiration or termination of this Agreement for any reason,
Licensee shall dispose of all tangible personal property belonging to Licensor
and disclosed in accordance with this Agreement. All such property shall be
returned to Licensor or destroyed (such destruction to be attested to in a
certificate signed by an authorized agent of Licensee), at Licensor's election,
within ***** after any such expiration or termination

         19. Assignment. This Agreement shall bind and inure to the benefit of
Licensor, its successors and assigns. This Agreement is personal to Licensee,
and Licensee shall not sublicense nor franchise its rights hereunder, and
..neither this Agreement nor any of the rights of Licensee hereunder shall be
sold, transferred or assigned by Licensee without the prior written consent of
Licensor and no rights hereunder shall devolve by operation of law or otherwise
upon any receiver, liquidator, trustee or other party. Notwithstanding the
foregoing, however, Licensor shall consider, in good faith, Licensee's request
to assign this License and its rights under this Agreement to (a) any person or
entity which is controlled by, controls or is under common control with
Licensee; (b) any surviving entity by reason of merger, consolidation,
reorganization or other operation of law or by sale of all or substantially all
of Licensee's assets; or (c) to any other party of which Licensor approves, in
writing, prior to any such assignment. Any assignment of the Agreement shall be
made expressly subject to the assignee's prior agreement, in writing, to comply
with all of the terms and conditions hereof.

         20. Governing Law; Jurisdiction; and Attorney's Fees. This Agreement
shall be interpreted in accordance with the laws of the State of
California-applicable to contracts entered into and fully performed therein.
Licensee hereby (i) agrees that any legal suit, action or proceeding arising out
of or relating to this Agreement brought by Licensor ray be instituted in a
state or federal court in Santa Clara county, California; (ii) waives any
objection which it may have now or hereafter to Santa Clara County as the venue
for any such suit, action or proceeding; (iii) irrevocably submits to the
nonexclusive jurisdiction of the United States District Court for the Northern
District of California (San Jose), or any court of the State of California
located in Santa Clara County, in any such suit, action or proceeding; and (iv)
consents to the service of process by any means authorized by California law.
Licensee further agrees that the prevailing

---------------
* Confidential portion omitted and filed separately with the Securities Exchange
Commission.

                                       12

party any legal suit, action or proceeding arising out of or relating to this
Agreement shall be entitled to recover its reasonable attorney's fees and costs.

         21. Waiver, Modification, Integration, Severability. No waiver,
modification or cancellation of any term or condition of this Agreement shall be
effective unless executed in writing by the party charged therewith. No written
waiver shall excuse the performance of any acts other than those specifically
referred to therein. The fact that the Licensor has not previously insisted upon
Licensee expressly complying with any provision of this Agreement shall not be
deemed to be a waiver of Licensor's future right to require compliance in
respect thereof and Licensee specifically acknowledges and agrees that the prior
forbearance in respect of any act, term or condition shall not. prevent Licensor
from subsequently requiring full and complete compliance thereafter. If any term
or provision of this Agreement is held to be invalid or unenforceable by any
court of competent jurisdiction or any other authority vested with jurisdiction1
such holding shall not affect the validity or enforceability of any other term
or provision hereto and this Agreement shall be interpreted and construed as if
such term or provision, to the extent the same shall have been held to be
invalid, illegal or unenforceable, had never been contained herein. Headings of
paragraphs herein are for convenience only and are without substantive
significance.

         This Agreement shall be of no force or effect unless and until it is
signed by all of the parties listed below:

AGREED AND ACCEPTED:                        AGREED AND ACCEPTED:

LICENSOR:                                   LICENSEE:

NAMCO HOMETEK INC.                          MAJESCO SALES, INC.

By:                                         By:
     -------------------------------------       -------------------------------
Its:                                        Its:
     -------------------------------------       -------------------------------
Date:                                       Date:
     -------------------------------------       -------------------------------

                                       13

                                    EXHIBIT 1

                                                         Dated

NAMCO HOMETEK INC.
2055 Junction Avenue
San Jose, California  91531

Ladies, and Gentlemen.:

         This letter will serve as notice to you that NAMCO HOMETEK INC. on the
one hand, and MAJESCO SALES, INC. or' the other hand, we have been engaged as
the manufacturer for MAJESCO SALES, INC. in connection with the manufacture of
the interactive entertainment software known as "NAMCO MUSEUM" and "PAC-MAN
COLLECTION" for play on the Nintendo Gameboy Advance handheld videogame system.

         We understand that our engagement as the manufacturer for MAJESCO
SALES, INC., is subject to your written approval. We request, therefore, that
you sign in the space below, thereby showing your acceptance of our engagement
as aforesaid.

         Very truly yours,

         AGREED AND ACCEPTED;

         NAMCO HOME iEK7 INC.

         Its:
               -----------------------
         Date;

                                      A-1

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