Document:

EXHIBIT
        4.5

         

        
        ASSET PURCHASE AGREEMENT

         

        
            	
                        
                         

                    	
                        
                        This Agreement is made the 8th day of January,
                        2007.

                    

        

         

        B E T W
        E E N:

        
        PARBET.COM LTD.,

        
        a corporation incorporated under the laws of Malta and having a business
        address at 66 Old Bakery Street, Valletta, VLT 09, Malta

        
        (the
        “Vendor”)

        
        OF THE FIRST PART;

        
        -and-

        
        ATLETICO NORDIC B.V.,

        
        a corporation incorporated under the laws of The Netherlands and having a
        business address at Weena 340, 3012 NJ Rotterdam, The Netherlands

        
        (the “Vendor
        Guarantor”)

        OF THE
        SECOND PART;

        
        -and-

        
            	
                         

                    	
                        
                        WAGERLOGIC LIMITED,

                    

        

        
        a corporation incorporated under the laws of the Republic of Cyprus and
        having a business address at Nimeli Court, 41-49 Agiou Nicolaou Street, Block A,
        3rd Floor, Engomi, 2408 Nicosia, Cyprus

        
            	
                        
                         

                    	
                        
                        (the
                        “Purchaser”)

                    

        

        OF THE
        THIRD PART;

        
        -and-

        
            	
                         

                    	
                        CRYPTOLOGIC
                        INC.,

                    

        

        
        a corporation incorporated under the laws of Ontario and having a business
        address at 55 St. Clair West, 3rd Floor, Toronto, Ontario, Canada M4V
        2Y7

        
        (the “Purchaser
        Guarantor”)

        OF THE
        FOURTH PART;

        
        WITNESSETH THAT:

        
        WHEREAS the Vendor is the owner of a business
        which operates a virtual poker room over the internet under the brand and name
        “Parbet” (the
        “Business”);

        
        AND WHEREAS the Purchaser is the owner and
        operator of a business which develops and licenses software in connection with the
        operation of virtual poker rooms over the internet;

        
        AND WHEREAS the Vendor has agreed to sell to
        the Purchaser and the Purchaser has agreed to purchase from the Vendor the Purchased
        Assets, upon and subject to the terms and conditions of this Agreement;

        
        AND WHEREAS the Vendor Guarantor and the
        Purchaser Guarantor have agreed to guarantee the liabilities and obligations of the Vendor
        and the Purchaser, respectively, arising under this Agreement;

        
        
        

        
        NOW THEREFORE in consideration of the premises
        and mutual agreements contained in this Agreement and of other good and valuable
        consideration (the receipt and sufficiency of which are acknowledged by each Party hereto),
        the Parties agree with one another as follows:

        
            	
                        
                        1.

                    	
                        
                        INTERPRETATION

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Definitions

                    

        

        
        Whenever used in this Agreement, unless there is something in the subject
        matter or context inconsistent therewith, the following words and terms shall have the
        respective meanings ascribed to them in this Section 1(1):

        
        (a)       “
        Agreement” means this asset purchase agreement and all
        instruments supplemental to or in amendment or confirmation of this asset purchase
        agreement, and all references to this Agreement shall include the attached Schedules and
        “Article”, “Section”, “Subsection”, or
        “Paragraph” means and refers to the specified article, section, subsection, or
        paragraph of this asset purchase agreement;

        
        (b)       “
        Assumed Liabilities” means those liabilities and
        obligations of the Vendor as set forth in Schedule A attached hereto;

        
        (c)       “
        Assumption Agreement” means the assumption and indemnity
        agreement to be issued by the Purchaser to the Vendor in the form attached as Schedule
        B;

        
        (d)       “
        Average Daily Revenues” means the aggregate gross amount of
        Poker Rake and Tournament House Fees earned through the operation of the Business during
        the Earn Out Period, divided by 181;

        
        (e)       “
        Business” has the meaning ascribed in the recitals to this
        Agreement and, for greater certainty, specifically excludes the Vendor’s casino and
        sports betting business;

        
        (f)        “
        Business Day” means any day other than a Saturday, Sunday
        or any statutory holiday in Canada, Sweden or Cyprus;

        
        (g)       “
        Closing” means the completion of the sale to, and the
        purchase by the Purchaser of, the Purchased Assets under this Agreement by the transfer and
        delivery of documents of title to the Purchased Assets and the payment of the Purchase
        Price;

        
        (h)       “
        Closing Date” means January 15, 2007, or such other date as
        the Parties may mutually agree in writing as the date upon which the Closing shall take
        place;

        
        (i)        “
        Closing Date Liabilities” means five thousand British
        pounds (£5,000) plus the actual monetary amount of the Assumed Liabilities as at the
        Closing Date;

        
        (j)        “
        Closing Statements” means a statement to be prepared by the
        Purchaser setting out the actual amount of all Closing Date Liabilities as at the Closing
        Time, calculated based on the books and records of the Business as at the Closing
        Time;

        
        (k)        “
        Closing Time” means 10am Central European Time on the
        Closing Date or such other time on such date as the Parties may agree as the time at which
        the Closing shall take place;

        
        (l)        “
        Data Transfer Date” means January 8, 2007 or such other
        date as the Parties may agree;

         

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        -

         

         

        
        
        

        
        (m)      “Dispute
        Notice” shall have the meaning ascribed to that term by the
        Purchase Price Escrow Agreement entered into by the Vendor and the Purchaser pursuant to
        Section 3(2) hereof.

        
        (n)        “
        Earn Out Period” means the period of one hundred and
        eighty-one days commencing on the date which is forty five (45) days following the Closing
        Date and ending two hundred and twelve (212) days thereafter, but not including the month
        of July, 2007;

        
        (o)       “
        Employees” means those persons employed by the Vendor and
        working with the Business;

        
        (p)       “
        End User” means a customer of the Business who plays poker
        through the Parbet Poker Room;

        
        (q)       “
        Escrow Agent “ shall have the meaning ascribed to that term
        by the Purchase Price Escrow Agreement entered into by the Vendor and the Purchaser
        pursuant to Section 3(2) hereof;

        
        (r)        
        “Expekt.com Company Limited Financial Statements”
        means, the audited financial statements of Expekt.com Company Limited as at
        and for the fiscal year ended December 31, 2005,and the management
        prepared, unaudited interim/stub period financial statements for the period from January 1,
        2006 through to November 30, 2006, consisting of a balance sheet, statement of income and
        retained earnings, statement of cash flows, together with the accountants’ notes
        thereto (if applicable), true copies of which are annexed hereto as Schedule G;

        
        (s)       “
        Financial Statements” means, collectively, the audited
        financial statements of the Vendor as at and for the fiscal year ended December 31,
        2005,and the management prepared, unaudited financial statements for
        the period from January 1, 2006 through to November 30, 2006, consisting of a balance
        sheet, statement of income and retained earnings, statement of cash flows, together with
        the accountants’ notes thereto (if applicable), true copies of which are annexed
        hereto as Schedule C;

        
        (t)       
        “IFRS” has
        the meaning ascribed in Section 1(8);

        
        (u)       “
        Intellectual Property Rights” means all trade or brand
        names, all domain names, business names, trade-marks, trade-mark registrations and
        applications, service marks, service mark registrations and applications, copyrights,
        copyright registrations and applications, patents, patent registrations and applications
        and other patent rights (including any patents issued on such applications or rights),
        trade secrets, proprietary information and know-how, inventions, investors’ notes,
        research data, unpatented blue-prints, drawings and designs, industrial property, formulae,
        processes, software, technology and other intellectual property used primarily in the
        operation of the Business, together with all rights under intellectual property licences,
        registered user agreements, technology transfer agreements and other agreements or
        instruments relating to any of the foregoing, including, without limitation,
        the intellectual property described in Schedule D hereto;

        
        (v)       “
        Interim Period” means the period beginning
        on the date of execution of this Agreement to and including the Closing
        Date;

        
        (w)      “
        Legal Entity Affiliate” means
        a legal entity which meets the definition of “affiliate” as

         

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        -

         

         

        
        
        

        set
        forth in the Business Corporations Act
        (Ontario) R.S.O. 1990;

        
        (x)       “
        Licenses” means all licenses, registrations,
        qualifications, permits and approvals, issued by any government or governmental unit,
        agency, board, body or instrumentality, whether federal, provincial or municipal, relating
        to the Business, including those listed in Schedule E, together with all applications for
        such licences or permits;

        
        (y)       “
        Non-Solicitation Agreement” means the non-solicitation
        agreement in the form of Schedule F;

        any
        of the foregoing, including, without limitation, the intellectual property described in
        Schedule D hereto;

        
        (z)       “Parbet Poker
        Room” has the meaning ascribed in Section
        4(1);

        
        (aa)     “Parties
        ” means the Vendor, the Purchaser, the Vendor Guarantor and the Purchaser Guarantor,
        collectively, and “Party”
        means either one of them;

        
        (bb)     “Person
        ” includes an individual, corporation, partnership, joint venture, trust,
        unincorporated organization, the Crown or any agency or instrumentality thereof or any
        other juridical entity;

        
        (cc)     “Poker
        Rake” means the gross amount earned by the Parbet Operator
        (as that term is defined in section 4(1)) from the pot of each hand of poker played in the
        Parbet Poker Room, it being acknowledged by the Parties that the Parbet Poker Room shall be
        operated in and through the Purchaser’s centralized poker room, meaning that End
        Users may play individual hands of poker with end users of other licensees of the Poker
        Software, and in such circumstances the Poker Rake deducted from each hand of poker so
        played must be divided amongst the Parbet Operator and all other licensees of the Purchaser
        whose end users participated in the hand, in accordance with the Purchaser’s policies
        and procedures;

        
        (dd)     “Poker
        Software” means the Purchaser’s proprietary software
        related to the operation of virtual poker rooms over the internet;

        
        (ee)     “Poker
        Tournament” means a poker competition that requires the
        payment of the Poker Tournament Entry Fee by the End Users who wager through the Parbet
        Poker Room and who participate in the competition;

        
        (ff)      “Poker
        Tournament Entry Fee” means the entry fee charged to End
        Users who wager through the Parbet Poker Room, for such End Users to play in a Poker
        Tournament;

        
        (gg)     “Poker
        Tournament House Fees” means the portion of the Poker
        Tournament Entry Fee earned by the Business in connection with a Poker Tournament, as
        opposed to the portion of the Poker Tournament Entry Fee which is included in the prize
        pool for the subject Poker Tournament;

        
        (hh)     “Purchase
        Price” means the purchase price to be paid by the Purchaser
        to the Vendor for the Purchased Assets, all as provided in Section 3(1);

        
        (ii)       “
        Purchased Assets” means the following properties, assets
        and rights used in connection with the Business:

        
        (i)        
        Intellectual Property Rights — all right, title and interest of the
        Vendor in and to the Intellectual Property Rights; and

        
        (ii)        Books
        and Records — all books and records (or appropriate extracts therefrom)

         

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        -

         

         

        
        
        

        
        of the Vendor relating to the Purchased Assets and the Business (other than
        those required by law to be retained by the Vendor, copies of which will be made available
        to the Purchaser) including, without limitation, customer lists and other data regarding
        the customers of the Business in the possession and control of the Vendor, sales records,
        price lists, sales literature, advertising material and correspondence files (together
        with, in the case of any such information that is stored electronically, the media on which
        the same is stored).

        For
        clarity, the Purchaser shall not be entitled to any assignment of gaming licenses held by
        the Vendor;

        
        (jj)       “
        Release Notice” shall have the meaning ascribed to that
        term by the Purchase Price Escrow Agreement entered into by the Vendor and the Purchaser
        pursuant to Section 3(2) hereof.

        
        (kk)     “
        to the best of the knowledge” when used in reference
        to:

        
            	
                         

                    	
                        
                        (i)

                    	
                        
                        the Vendor means the knowledge of the senior officers of the
                        Vendor; and

                    

        

        
        (ii)          
        the Purchaser means the knowledge of the senior officers of the Purchaser;
        and

        
        (ll)       “
        Vendor Poker Room” means the virtual poker room operated by
        the Business and owned by the Vendor.

        
            	
                        
                        (2)

                    	
                        
                        Gender and Number

                    

        

        In
        this Agreement, words importing the singular include the plural and vice versa and words
        importing gender include all genders.

        
            	
                        

                        
                        (3)

                    	
                        
                        Entire Agreement

                    

        

        This
        Agreement, including the schedules attached hereto, together with the agreements and other
        documents to be delivered under this Agreement constitute the entire agreement between the
        Parties pertaining to the subject matter of this Agreement and supersede all prior
        agreements, understandings, negotiations and discussions, whether oral or written, of the
        Parties (including, without limitation, the Binding Term Sheet entered into by the Parties
        dated the 8th day of November, 2006) and there are no warranties,
        representations or other agreements between the Parties in connection with the subject
        matter of this Agreement except as specifically set forth in this Agreement. No supplement,
        modification or amendment to this Agreement and no waiver of any provision of this
        Agreement shall be binding on any Party unless executed by such Party in
        writing.

        
            	
                        

                        
                        (4)

                    	
                        
                        Article and Section Headings

                    

        

        
        Article and Section headings contained in this Agreement are included solely
        for convenience, are not intended to be full or accurate descriptions of the content of any
        Article or Section and shall not be considered to be part of this Agreement.

        
             
        

        
            	
                        

                        
                        (5)

                    	
                        
                        Schedules

                    

        

        The
        following Schedules are an integral part of this Agreement:

        
            	
                        Schedule A

                    	
                        Assumed Liabilities

                    
	
                        Schedule B

                    	
                        Assumption Agreement

                    

        

         

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        -

         

         

        
        
        

        
            	
                        Schedule C

                    	
                        Vendor Financial Statements

                    
	
                        Schedule D

                    	
                        Intellectual Property Rights

                    
	
                        Schedule E

                    	
                        Licenses

                    
	
                        Schedule F

                    	
                        Non-Solicitation Agreement

                    
	
                        Schedule G

                    	
                        Expekt.com Company Limited Financial
                        Statements

                    
	
                        Schedule H

                    	
                        Vendor Guarantor Organization Chart

                    
	
                        Schedule I

                    	
                        Conversion Process

                    
	
                        Schedule J

                    	
                        Purchase Price Escrow Agreement

                    
	
                        Schedule K

                    	
                        Operating Policies

                    
	
                        Schedule L

                    	
                        Material Contracts

                    

        

         

        
            	
                        

                        
                        (6)

                    	
                        
                        Currency

                    

        

        
        Unless otherwise indicated, all monetary amounts referred to in this
        Agreement are in Euros. For the avoidance of doubt, the monetary amounts referred to in
        Subsections 8(1)(j) and 8(1)(k) are in the currency of the United States.

        
            	
                        

                        
                        (7)

                    	
                        
                        Accounting Terms

                    

        

        All
        accounting terms not otherwise defined have the meanings assigned to them, and, other than
        the management prepared, unaudited financial statements for the period from January 1, 2006
        through to November 30, 2006 of each of the Vendor and the Vendor Guarantor, all
        calculations are to be made and all financial data to be submitted are to be prepared, in
        accordance with International Financial Reporting Standards
        (“IFRS”).

        
            	
                        

                        
                        (8)

                    	
                        
                        Business Days

                    

        

        
        Whenever any action or payment to be taken or made under this Agreement
        shall be stated to be required to be taken or made on a day other than a Business Day, and
        payment shall be made or such action shall be taken on the next succeeding Business
        Day.

        
            	
                        

                        
                        (9)

                    	
                        
                        Statutory Instruments

                    

        

        
        Unless otherwise specifically provided in this Agreement, any reference in
        this Agreement to any law, by-law, rule, regulation, order, act or statute of any
        government, governmental body or other regulatory body shall be construed as
        a reference to those as amended or re-enacted from time to time or as a reference to any
        successor to those.

        
            	
                        

                        
                        2.

                    	
                        
                        PURCHASE AND SALE OF PURCHASED ASSETS

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Purchase and Sale of Purchased Assets

                    

        

        Upon
        and subject to the terms and conditions of this Agreement, the Vendor shall sell, transfer,
        assign and set over to the Purchaser and the Purchaser shall purchase and acquire from
        the

         

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        Vendor at the Closing Time, the Purchased Assets for the Purchase Price
        payable as provided in Section 3(1).

        
            	
                        

                        
                        (2)

                    	
                        
                        Assumed Liabilities

                    

        

        The
        Purchaser agrees to assume and become liable only for the Assumed Liabilities at the
        Closing Time by executing and delivering the Assumption Agreement to the Vendor. For
        greater certainty, it is understood that the Purchaser will assume no liabilities of the
        Business arising or occurring prior to the Closing Time other than those described in or
        forming part of the Assumed Liabilities, it being expressly acknowledged and agreed that
        the liabilities and obligations relating to the operation of the Business prior to the
        Closing shall be for the account of the Vendor, and liabilities and obligations relating to
        the operation of the Business following Closing shall be for the account of the
        Purchaser.

        
            	
                        

                        
                        3.

                    	
                        
                        PURCHASE PRICE AND PAYMENT

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Purchase Price

                    

        

        The
        Purchase Price payable by the Purchaser under this Agreement for the Purchased Assets shall
        be an aggregate sum equal to nine million Euros (€9,000,000), plus any and all amounts
        payable under Article 4 hereof (“Earn Out
        Amounts”), less the amount of the Closing Date
        Liabilities.

        
            	
                        

                        
                        (2)

                    	
                        
                        Payment of Purchase Price

                    

        

        
        (a)       On the Data Transfer Date, the
        Purchaser and the Vendor shall enter into a Purchase Price Escrow Agreement in the form of
        the agreement attached herewith as Schedule J (the “Purchase
        Price Escrow Agreement”), and the Purchaser shall pay an
        amount equal to eight million, seven-hundred and fifty thousand Euros (€8,750,000), by
        wire transfer to the escrow agent under the Purchase Price Escrow Agreement. The amounts
        deposited into escrow pursuant to this Subsection 3(2)(a) shall be released and paid to the
        Vendor and/or the Purchaser (as the case may be) in accordance with the terms of the
        Purchase Price Escrow Agreement. In the event that all conditions of Closing set forth
        herein which are for the benefit of the Purchaser are satisfied or waived thereby on or
        prior to Closing, the Purchaser shall deliver an executed Release Notice to the Escrow
        Agent in the form and manner contemplated by Section 5(b) of the Purchase Price Escrow
        Agreement. In the event that all conditions of Closing set forth herein which are for the
        benefit of the Vendor are satisfied or waived thereby on or prior to Closing, the Vendor
        shall deliver an executed Release Notice to the Escrow Agent in the form and manner
        contemplated by Section 5(b) of the Purchase Price Escrow Agreement. In the event that the
        conditions of Closing set forth herein are not satisfied as a result of a breach by either
        the Purchaser or the Vendor of any of its obligations hereunder, the non-breaching party
        shall not be required to deliver a Release Notice to the Escrow Agent
        under the terms of the Purchase Price Escrow Agreement, and in the case where the
        non-breaching party is the Vendor, and only in such case, the Vendor may deliver a Dispute
        Notice to the Escrow Agent pursuant to the provisions of Section 5(c) of the Purchase Price
        Escrow Agreement. The Vendor acknowledges and agrees that a Dispute Notice pursuant to the
        provisions of Section 5(c) of the Purchase Price Escrow Agreement may only be delivered in
        the event of a breach by the Purchaser of any of its obligations under this Agreement or
        the Purchase Price Escrow Agreement and for no other

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        reason whatsoever.

        
        (b)       On the Closing Date, the Vendor
        and the Purchaser shall make a bona fide estimate of the Closing Date Liabilities (the
        “Estimated Liability
        Amount”), which Estimated Liability Amount shall form the
        basis of the downward adjustment of the amount released from escrow pursuant to the
        Purchase Price Escrow Agreement.

        
        (c)       The Vendor acknowledges that
        the Purchaser shall hold back from the Purchase Price the amount of two hundred and fifty
        thousand Euros (€250,000) for a period of sixty (60) days from the Closing Date, as
        security for all of the Vendor’s representations, warranties and covenants hereunder
        (the “Holdback”). Sixty (60)
        days after the Closing Date and subject to Section 4(4), the Purchaser agrees to pay to the
        Vendor the Holdback, by certified cheque or bank draft, less the amount of any Claim (as
        that term is defined in Section 7(1)) made by the Purchaser as a result of a breach by the
        Vendor of any representations, warranties and covenants hereunder; provided that the amount
        of any such Claim so withheld has been finally agreed or determined amongst the Parties or,
        to the extent that the amount of the Claim has not been finally agreed or determined
        between the Parties before the expiry of the sixty (60) day period referred to above, the
        amount is a reasonable estimate of the Claim.

        
            	
                        

                        
                        4.

                    	
                        
                        EARN OUT

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Operations Post-Closing

                    

        

        It
        is expressly acknowledged and agreed by the Purchaser that forthwith following the Closing,
        the Purchaser shall license to a third party (the “Parbet
        Operator”) all of the Purchased Assets, and the Poker
        Software, for the purpose of allowing the Parbet Operator to operate a virtual poker room
        over the Internet (the “Parbet Poker
        Room”), and that the Parbet Operator shall operate the
        Parbet Poker Room using the Purchased Assets throughout the Earn Out Period. The Purchaser
        further agrees that, in operating the Parbet Poker Room as contemplated above, the Parbet
        Operator shall, throughout the Earn-Out Period, maintain all rake back, affiliate and
        promotional bonus arrangements and policies of the Vendor, as set forth in Schedule K
        hereto (the “Operating
        Policies”).

        
            	
                        

                        
                        (2)

                    	
                        
                        Earn Out Payment

                    

        

        
        (a)       In addition to the Purchase
        Price, the Vendor shall also be entitled to receive an earn-out payment in respect of the
        Purchased Assets, calculated and payable as follows:

        
        (i)         In
        the event that the Average Daily Revenues realized by the Parbet Poker Room during the Earn
        Out Period exceed eighteen thousand Euros (€18,000) but are less than nineteen
        thousand Euros (€19,000), the Purchaser shall pay to the Vendor an amount
        equal to one million Euros (€1,000,000) within sixty
        (60) days of the end of the Earn Out Period, to be satisfied by certified cheque or bank
        draft of the Purchaser payable to or to the order of the Vendor;

        
        (ii)       
        In the event that the Average Daily Revenues realized by the Parbet Poker
        Room during the Earn Out Period are equal to or exceed nineteen thousand Euros
        (€19,000) but are less than twenty thousand Euros (€20,000), the Purchaser shall
        pay to the Vendor an amount equal to two million Euros (€2,000,000) within sixty (60)
        days of the end of the

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        Earn Out Period, to be satisfied by certified cheque or bank draft of the
        Purchaser payable to or to the order of the Vendor;

        
        (iii)       In the event
        that the Average Daily Revenues realized by the Parbet Poker Room during Earn Out Period
        are equal to or exceed twenty thousand Euros (€20,000) but are less than twenty one
        thousand Euros (€21,000), the Purchaser shall pay to the Vendor an amount equal to
        three million Euros (€3,000,000) within sixty (60) days of the end of the Earn Out
        Period, to be satisfied by certified cheque or bank draft of the Purchaser payable to or to
        the order of the Vendor;

        
        (iv)        In the
        event that the Average Daily Revenues realized by the Parbet Poker Room during the Earn Out
        Period are equal to or exceed twenty one thousand Euros (€21,000), the Purchaser shall
        pay to the Vendor an amount equal to four million Euros (€4,000,000) within sixty (60)
        days of the end of the Earn Out Period, to be satisfied by certified cheque or bank draft
        of the Purchaser payable to or to the order of the Vendor; or

        
        (v)         In
        the event that the Average Daily Revenues realized by the Parbet Poker Room during the Earn
        Out Period are less than eighteen thousand Euros (€18,000), no payment shall be made
        by the Purchaser to the Vendor under this Section 4(2).

        
            	
                        

                        
                        (3)

                    	
                        
                        Right to Audit

                    

        

        It
        is understood and agreed that the Vendor shall be entitled on one (1) occasion at its sole
        expense to appoint a duly qualified auditor to audit the books and records of the Purchaser
        and/or Parbet Operator in order to confirm the Average Daily Revenues realized by the
        Parbet Poker Room during the Earn Out Period. Notwithstanding the foregoing, should the
        results of the audit reveal that the actual Average Daily Revenues realized by the Parbet
        Poker Room during the Earn Out Period was higher by ten percent (10%) or more from the
        amount as reported to the Vendor by the Purchaser, the Vendor shall be entitled to its
        reasonable expenses of such audit.

        
            	
                        

                        
                        (4)

                    	
                        
                        Closing Statements Purchase Price
                        Adjustment

                    

        

        
        (a)       Closing Statements - As soon as
        practicable, and in any event within thirty (30) days after the Closing Date, the Purchaser
        shall prepare and deliver to the Vendor, the Closing Statements. The Vendor shall provide
        any and all information, documentation and assistance as the Purchaser may reasonably
        require in order to prepare the Closing Statements. The Purchaser shall permit the Vendor
        twenty (20) days after their delivery to make comments and representations to the Purchaser
        on such Closing Statements. The Vendor shall be provided with all reasonable access to the
        books, records and other information relating to the operation of the Business as they may
        reasonably request, for the purpose of reviewing the Closing Statements.

        
        (b)       Adjustment - On or prior to the
        thirtieth (30th) day following the Purchaser’s delivery of the Closing
        Statements to the Vendor, and provided the Vendor has not disputed in writing the Closing
        Statements in accordance with part (c) below:

        
        (i)         In
        the event that the Closing Date Liabilities exceed the Estimated Liability Amount, the
        Vendor shall forthwith pay over to the Purchaser an amount equal to the Closing Date
        Liabilities less the Estimated Liability Amount, by certified cheque, bank draft or other
        means of immediately available funds; or

         

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        (ii)        In the
        event that the Estimated Liability Amount exceeds the Closing Date Liabilities, the
        Purchaser shall forthwith pay over to the Vendor an amount equal to the Estimated Liability
        Amount less the Closing Date Liabilities, by certified cheque, bank draft or other means of
        immediately available funds.

        
        (c)       Failure to dispute, in writing,
        the Closing Statements by the twentieth (20th) day following the
        Purchaser’s delivery of the Closing Statements to the Vendor shall be conclusive
        evidence of the Vendor’s acceptance of the Closing Statements. All disputes related
        to the Closing Statements which cannot be amicably resolved between the Parties shall be
        settled by binding arbitration in accordance with Section 12(7). In the event of a dispute
        which, upon its resolution, could result in a payment to the Purchaser pursuant to Section
        4(4)(b)(i) above, the amount so in dispute shall be withheld from the Holdback pending
        resolution of such dispute.

        
            	
                        

                        
                        5.

                    	
                        
                        REPRESENTATIONS AND WARRANTIES

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Representations and Warranties of the
                        Vendor

                    

        

        The
        Vendor hereby represents and warrants to the Purchaser as follows and acknowledges that the
        Purchaser is relying on these representations and warranties in entering into this
        Agreement and the transactions contemplated under this Agreement:

        
        (a)       Organization and Good
        Standing—The Vendor is a corporation duly incorporated and validly existing in good
        standing under the laws of Malta, and has good and sufficient corporate power, authority
        and right to enter into and deliver this Agreement and all other agreements, documents and
        instruments to be executed by it as contemplated herein and to carry out the transactions
        and perform each of its obligations herein and therein.

        
        (b)       Bankruptcy, etc.— The
        Vendor has not committed an act of bankruptcy, is not insolvent, has not proposed a
        compromise or arrangement to its creditors generally, has not had any petition for a
        receiving order in bankruptcy filed against it, has not made a voluntary assignment in
        bankruptcy, has not taken any proceeding with respect to a compromise or arrangement, has
        not taken any proceeding to have itself declared bankrupt or wound-up, has not taken any
        proceeding to have a receiver appointed of any part of its assets, has not had any
        encumbrancer take possession of any of its property, and has not had any execution or
        distress become enforceable or become levied upon any of its property.

        
        (c)       Capacity to Carry on
        Business—The Vendor has all necessary corporate power, authority and capacity to own
        its property and assets to carry on the Business as presently owned and carried on by it,
        and the Vendor is duly licensed, registered and qualified as a corporation to do business
        and is in good standing in Malta and all such licenses, registrations and qualifications
        are valid and subsisting and in good standing and none of them contains any
        burdensome term, provision, condition or limitation which has or may have an adverse effect
        on the Purchased Assets.

        
        (d)       Compliance with
        Laws – The Vendor has operated and is operating the Business in compliance in all
        material respects with all applicable laws of Malta and is not in breach of any such
        laws.

        
        (e)       Due
        Authorization, etc.— The execution and delivery of this Agreement,
        agreements,

         

        - 10
        -

         

         

        
        
        

        
        documents and instruments executed or to be executed by the Vendor pursuant
        to this Agreement and the performance by the Vendor of its obligations hereunder or
        thereunder have been duly authorized on the part of the Vendor. Each of this Agreement and
        the other agreements and instruments to be executed by the Vendor in connection with this
        Agreement constitute (or will constitute when executed) legally valid and binding
        obligations of the Vendor, enforceable against it in accordance with its/their
        terms.

        
        (f)        Absence of Conflicting
        Agreements—The Vendor is not a party to, bound or affected by or subject to any
        indenture, mortgage, lease, agreement, instrument, statute, regulation, arbitration award,
        charter or by-law provisions, order or judgment which would be violated, contravened,
        breached by, or under which any default would occur as a result of the execution and
        delivery of this Agreement or the consummation of any of the transactions contemplated
        under this Agreement, including without limitation, any existing software supply agreement
        to which the Vendor is a party and which relate to the supply to the Vendor of software in
        connection with the operation of the Business.

        
        (g)       Title to Purchased
        Assets—The Vendor is the absolute beneficial owner of the Purchased Assets, with good
        and marketable title to the Purchased Assets, free and clear of any title defects,
        mortgages, pledges, hypothecs, security interests, deemed trusts, liens, charges,
        encumbrances or rights or claims of others of any kind whatsoever and the Vendor is
        exclusively entitled to possess and dispose of the same.

        
        (h)       Cash on Deposit—All
        customer cash on deposit with the Vendor in connection with the Business are bona fide as
        it relates to the manner and purpose for which such deposits were made, which manner and
        purpose is participating in the Vendor Poker Room and for no other purpose
        whatsoever.

        
        (i)        Intellectual
        Property— The Intellectual Property Rights constitute all patents, trade-marks, trade
        names, domain names, brand names, trade designs, service marks and copyrights and all
        licenses and similar rights and property which are necessary or incidental to the conduct
        of the Business and are valid and subsisting and held by the Vendor with good and
        marketable title and are in good standing free and clear of all security interests, claims,
        liens, objections and infringements of every nature and kind and all registrations therefor
        have been kept renewed and are in full force and effect. The operation of the Business and
        the provision by the Vendor of its services do not involve infringements or claimed
        infringements of any patent, trade-mark, trade name, copyright or other intellectual
        property right of any third party. Save and except as disclosed in Schedule D hereto, no
        Employee or other Person owns, directly or indirectly in whole or in part, any patent,
        trade-mark, trade name, domain name, brand name, copyright, invention, process, know-how,
        formula or trade secret which the Vendor is presently using or the use of which is
        necessary for the Business, or otherwise has an interest in any Intellectual Property
        Rights. To the best of the knowledge by the Vendor, no third party has infringed or
        breached or is infringing or breaching any of the Intellectual Property Rights. The Vendor
        has not received any notice challenging the title or interest of the Vendor in the
        Intellectual Property Rights, and to the best of the knowledge of the Vendor, there are no
        facts upon which such a challenge could be made. There are no outstanding rights or
        licenses granted to any third party

         

        - 11
        -

         

         

        
        
        

        to
        use any Intellectual Property Rights.

        
        (j)        Material
        Contracts—The Vendor is not a party to or bound by any material contract or
        commitment relating to the Business whether oral or written, save and except as disclosed
        in Schedule L hereto.

        
        (k)       No Options—No Person
        other than the Purchaser has any agreement or option or any right capable of becoming an
        agreement or option for the purchase from the Vendor of any of the Purchased
        Assets.

        
        (l)        Books and
        Records—The books and records of the Vendor as it relates to the Business fairly and
        correctly set out and disclose in all material respects, the financial position of the
        Business and all material financial transactions of the Vendor relating to the Business
        have been accurately recorded in Vendor’s books and records.

        
        (m)      Financial Statements—The Financial
        Statements annexed as Schedule C hereto:

        
        (i)        
        have, other than the management prepared, unaudited financial statements for
        the period from January 1, 2006 through to November 30, 2006, been prepared in accordance
        with IFRS applied on a basis consistent with that of preceding fiscal periods;

        
        (ii)        present
        fully, fairly and correctly the assets, liabilities and financial condition of the Vendor
        in respect of the Business as at the end of the period represented thereby, and the results
        of its operations and the changes in its financial position for the periods then
        ended;

        
            	
                         

                    	
                        
                        (iii)

                    	
                        
                        are in accordance with the books and records of the
                        Vendor;

                    

        

        
        (iv)        contain
        and reflect all necessary adjustments for a fair presentation of the results of operations
        and the financial condition of the Vendor in respect of the Business for the period covered
        thereby; and

        
        (v)        
        contain and reflect adequate provision or allowance for all reasonably
        anticipated liabilities, expenses and losses of the Vendor in respect of the
        Business.

        
        (n)       Non-Arm’s Length
        Transactions—Except as otherwise provided for in the Financial Statements, the Vendor
        is not party to any transaction which relates to the Business with any officer, director,
        employee, shareholder, corporation, partnership, legal entity or any other Person not
        dealing at arm’s length (within the meaning of the Income
        Tax Act (Canada)) with the Vendor
        (“Non-Arm’s Length
        Transaction”) for which financial consideration relating to
        such Non-Arm’s Length Transaction is not based on fair market value. Without
        restricting the generality of the foregoing, no material revenues of the Business are
        derived from any Person not dealing at arm’s length (within the meaning of the
        Income Tax Act (Canada)) with the
        Vendor, nor to the Vendor’s express knowledge, are any material
        revenues of the Business derived from sources which, due to the nature of such sources, are
        not likely to be sources of revenue for the Business subsequent to the completion of the
        purchase and sale of the Purchased Assets to the Purchaser as contemplated
        herein.

        
        (o)       Liabilities—There
        are no liabilities of the Vendor of any kind whatsoever, whether or not accrued and whether
        or not determined or determinable, in respect of which the Purchaser may become liable on
        or after the Closing Date other than the Assumed Liabilities.

         

        - 12
        -

         

         

        
        
        

         

        

        
            	
                        
                        (p)

                    	
                        
                        Absence of Changes—Since December 31, 2005, there has
                        not been:

                    

        

        
        (i)        
        any material change in the condition or operations of the Business other
        than changes in the ordinary and normal course of business;

        
        (ii)        any
        damage, destruction or loss, labour trouble or other event, development or condition of any
        character (whether or not covered by insurance) materially and adversely affecting the
        Business; or

        
        (iii)       any change
        in the accounting or tax practices in respect of the Business, the Vendor or the assets
        thereof.

        
        (q)       Absence of Unusual
        Transactions—Since December 31, 2005, the Vendor has carried on the Business in its
        usual and ordinary course, and in particular the Vendor has not:

        
        (i)        
        transferred, assigned, sold or otherwise disposed of any of the assets used
        in the Business except in the ordinary and usual course of business;

        
        (ii)       
        suffered an extraordinary loss, or waived any rights of material value, or
        entered into any material commitment or transaction not in the ordinary and usual course of
        business;

        
        (iii)       made any
        capital expenditure, except in the usual and ordinary course of business, and no capital
        expenditure will be made or authorized after the date of this Agreement by the Vendor with
        respect to the Business without the prior written consent of the Purchaser;

        
        (iv)       
        mortgaged, pledged, subjected to lien, granted a security interest in or
        otherwise encumbered any of the Purchased Assets; or

        
            	
                         

                    	
                        
                        (v)

                    	
                        
                        authorized or agreed or otherwise become committed to do any
                        of the foregoing.

                    

        

        
        (r)        Government
        Withholdings—The Vendor has deducted and remitted to the relevant governmental
        authorities or entities (“Deductions and
        Remittances”) all income taxes, unemployment insurance
        contributions, pension plan contributions, employer health tax remittances and any taxes or
        deduction or other amounts which it is required by statute or contract to collect and remit
        to any governmental authorities or other entities entitled to receive payment of such
        deduction, and for which absent such Deductions and Remittances, the Purchaser could become
        liable, or which could negatively impact the value of the Purchased Assets.

        
        (s)       Litigation—There is no,
        and there has not been for a period two (2) years prior to the date of this Agreement,
        suit, action, litigation, arbitration, proceeding, governmental proceeding,
        tribunal complaint, including appeals and applications for review in
        progress, pending or threatened against or involving the Vendor which relates to the
        Business or the Purchased Assets to which the Purchaser could become liable, and there is
        not presently outstanding against the Vendor any judgment, decree, injunction, rule or
        order of any court, governmental department, commission, tribunal, agency, instrumentality
        or arbitrator which relates to the Business or the Purchased Assets to which the Purchaser
        could become liable.

        
        (t)        Consents—There are
        no consents, authorizations, licenses, franchise agreements, permits,

         

        - 13
        -

         

         

        
        
        

        
        approvals or orders of any person or government required to permit the
        Vendor to complete the transactions contemplated herein with the Purchaser. Without
        restricting the generality of the foregoing, the Vendor expressly represents and warrants
        that the transfer of personal information of any of the customers of the Vendor pursuant to
        the provisions hereof does not require the consent of any third party which has not already
        been obtained by the Vendor, and is otherwise not a breach of any applicable privacy or
        data protection laws (the “Privacy
        Laws”).

        
        (u)       Licenses and Permits—All
        of the Licenses, registrations, qualifications, permits, bonds and approvals issued by any
        government or governmental unit, agency, board, body or instrumentality, whether federal,
        state, provincial or municipal, related to the Business or necessary for the conduct of the
        Business are listed on Schedule E, and are in good standing, and the Vendor is not in
        default of any obligations or requirements in respect thereof.

        
        (v)       Governmental
        Consents—Other than a notice to be delivered by the Vendor to the Maltese Lotteries
        and Gaming Authority
        (“MLGA”) (which notice the
        Vendor represents and warrants has already been delivered to the MLGA)), no governmental or
        regulatory authorizations, consents, approvals, filings or notices pertaining to the Vendor
        are required to be obtained or given or waiting period is required to expire in order that
        the purchase and sale of the Purchased Assets may be consummated by the Vendor or for the
        Vendor to carry out its obligations set out in this Agreement.

        
        (w)      Tax Matters—The Vendor is not
        in arrears or in default in respect of the filing of any required federal, provincial,
        state, or municipal tax or other return which relates to the Business or the Purchased
        Assets or to which the Purchaser could become liable or which could negatively impact the
        value of the Purchased Assets; and,

        
        (i)        
        all taxes, filing fees, and other assessments due and payable or collectable
        from the Vendor have been paid or collected;

        
        (ii)        no
        claim for additional taxes, filing fees, or other amounts and assessments has been made
        that has not been paid; and,

        
        (iii)       no such tax
        return contains any misstatement or conceals any statement that should have been included
        therein.

        
        (x)       No Knowledge of Material Facts
        - Save and except as described in this Agreement, the Vendor has no knowledge of any facts
        which might be reasonably expected to diminish the Purchaser’s appreciation and worth
        or profitability of the Business or which, if known by the Purchaser, might be reasonably
        expected to deter it from completing the transactions herein contemplated.

        
            	
                        
                        (2)

                    	
                        
                        Representations and Warranties of the
                        Purchaser

                    

        

        The
        Purchaser hereby represents and warrants to the Vendor as follows:

        
        (a)       Organization and Good
        Standing—The Purchaser is a corporation duly incorporated and validly existing and in
        good standing under the laws of Cyprus.

        
        (b)       Authority Relative to this
        Agreement, etc.—The Purchaser has all necessary corporate power, authority and
        capacity to enter into this Agreement and to perform its obligations under this Agreement;
        the execution and delivery of this Agreement and the consummation of the

         

        - 14
        -

         

         

        
        
        

        
            transactions contemplated by this Agreement have been duly authorized by
            all necessary corporate action on the part of the Purchaser.
        

        
        (c)       Absence of Conflicting
        Agreements—The Purchaser is not a party to, bound or affected by or subject to any
        indenture, mortgage, lease, agreement, instrument, charter or by-law provision, statute,
        regulation, order, judgment, decree or law which would be violated, contravened or breached
        by, or under which any default would occur as a result of the execution and delivery by it
        of this Agreement or the consummation of the transactions contemplated under this
        Agreement, except as disclosed in this Agreement.

        
        (d)       Enforceability of
        Obligations—This Agreement constitutes a valid and binding obligation of the
        Purchaser enforceable against it in accordance with its terms.

        
            	
                        

                        
                        (3)

                    	
                        
                        Representations and Warranties of the Vendor
                        Guarantor

                    

        

        The
        Vendor Guarantor hereby represents and warrants to the Purchaser as follows:

        
        (a)       Organization and Good
        Standing—The Vendor Guarantor is a corporation duly incorporated and validly existing
        and in good standing under the laws of The Netherlands.

        
        (b)       Authority Relative to this
        Agreement, etc.—The Vendor Guarantor has all necessary corporate power, authority and
        capacity to enter into this Agreement and to perform its obligations under this Agreement;
        the execution and delivery of this Agreement and the consummation of the transactions
        contemplated by this Agreement have been duly authorized by all necessary corporate action
        on the part of the Vendor Guarantor.

        
        (c)       Enforceability of
        Obligations—This Agreement constitutes a valid and binding obligation of the Vendor
        Guarantor enforceable against it in accordance with its terms.

        
        (d)       Expekt.com Company Limited
        Financial Statements - The Expekt.com Company Limited Financial Statements annexed as
        Schedule G hereto have, other than the management prepared, unaudited financial statements
        for the period from January 1, 2006 through to November 30, 2006, been prepared in
        accordance with IFRS, applied on a basis consistent with prior periods, and present fairly,
        in all material respects in accordance with IFRS, the assets, liabilities and financial
        condition of Expekt.com Company Limited as at and for the period ended on the date of such
        financial statements, and the sales, earnings and results of operations of Expekt.com
        Company Limited for the periods covered thereby and are in accordance with the books and
        records of Expekt.com Company Limited

        
        (e)       Organizational Chart –
        The organizational chart attached hereto as Schedule H accurately sets forth the corporate
        ownership of all entities listed thereon, and, other than specifically
        disclosed in the organizational chart, the Vendor Guarantor
        is the 100% direct or indirect beneficial owner of all entities listed on the said
        organizational chart.

        
            	
                        

                        
                        (4)

                    	
                        
                        Representations and Warranties of the Purchaser
                        Guarantor

                    

        

        The
        Purchaser Guarantor hereby represents and warrants to the Vendor as follows:

        
        (a)       Organization and Good
        Standing—The Purchaser Guarantor is a corporation duly incorporated and validly
        existing and in good standing under the laws of Ontario.

        
        (b)       Authority Relative to this
        Agreement, etc.—The Purchaser Guarantor has all necessary

        - 15
        -

         

         

        
        
        

        
        corporate power, authority and capacity to enter into this Agreement and to
        perform its obligations under this Agreement; the execution and delivery of this Agreement
        and the consummation of the transactions contemplated by this Agreement have been duly
        authorized by all necessary corporate action on the part of the Purchaser
        Guarantor.

        
        (c)       Enforceability of
        Obligations—This Agreement constitutes a valid and binding obligation of the
        Purchaser Guarantor enforceable against it in accordance with its terms.

        
            	
                        

                        
                        (5)

                    	
                        
                        Commission

                    

        

        
        Other than a commission payable by the Vendor at its sole expense to Stella
        Advisors AB, each Party represents and warrants to the other Party that no Person is
        entitled to a brokerage commission, finder’s fee or other like payment in connection
        with the purchase and sale contemplated by this Agreement.

        
            	
                        

                        
                        (6)

                    	
                        
                        Non-Waiver

                    

        

        No
        investigations made by or on behalf of the Purchaser at any time shall have the effect of
        waiving or diminishing the scope of or otherwise affecting any representation or warranty
        made by the Vendor in this Agreement or pursuant hereto. No waiver by the Purchaser of any
        condition, in whole or in part, shall operate as a waiver of any other
        condition.

        
            	
                        

                        
                        (7)

                    	
                        
                        Nature and Survival of Representations and
                        Warranties

                    

        

        All
        statements contained in any certificate or other instrument delivered by or on behalf of a
        Party pursuant to or in connection with the transactions contemplated by this Agreement
        shall be deemed to be made by that Party under this Agreement. All representations,
        warranties, covenants and agreements contained in this Agreement on the part of each of the
        Parties shall survive the Closing, the execution and delivery hereunder of any bills of
        sale, instruments of conveyance, assignments or other instruments of transfer of title to
        any of the Purchased Assets and the payment of the consideration contemplated under this
        Agreement, except that the representations and warranties contained in this Agreement shall
        only survive for one (1) year following Closing (except for the Vendor’
        representations and warranties relating to title to the Purchased Assets, which shall
        survive indefinitely, and relating to tax matters which shall survive for the period of
        time during which the taxes to which such representations and warranties relate may be
        reassessed by the relevant taxation authority, unless the Vendor has been fraudulent in
        filing a return or supplying information to any taxation authority under any taxation
        legislation, in which case the survival of those representations and warranties relating to
        tax matters shall be unlimited) after which period of time, if no Claim shall, prior to the
        expiry of such period, have been made under this
        Agreement against a Party with respect to any incorrectness in or breach of any
        representation or warranty made in this Agreement by such Party, such Party shall have no
        further liability under this Agreement with respect to such representation or
        warranty.

        
            	
                        

                        
                        6.

                    	
                        
                        OTHER COVENANTS OF THE PARTIES

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Operation of Expekt

                    

        

        It
        is expressly acknowledged that the Vendor is also the owner and operator of a virtual poker
        room operating under the name and brand “Expekt” (the
        “Expekt Room”). It is
        further

        - 16
        -

         

         

        
        
        

        
        acknowledged that, as of the date hereof, the Expekt Room licenses its poker
        room software from Tain Poker Ltd.
        (“TAIN”) and participates in
        TAIN’s centralized poker room. The Vendor hereby agrees that Expekt shall continue to
        license its poker room software from TAIN and shall continue to participate in TAIN’s
        centralized poker room, until the Closing Date, in the same manner and to the same extent
        as is the case on the date hereof.

        
            	
                        

                        
                        (2)

                    	
                        
                        Exclusivity

                    

        

        From
        the date hereof until the Closing Date, it is expressly agreed by the Vendor that neither
        the Vendor, nor any of its officers, directors, shareholders or executives (collectively
        the “Vendor Parties”), shall
        initiate, engage or participate in any discussions, investigations or negotiations with any
        Person whatsoever which relate to a proposed disposition, sale, assignment, transfer or
        encumbrance of all of any part of the Business, or Purchased Assets or a proposed
        disposition, sale, assignment, transfer, issuance or encumbrance of all or any material
        part of the capital stock of the Vendor (collectively a
        “Restricted Transaction”),
        without the prior express written consent of the Purchaser, not to be unreasonably withheld
        (it being expressly acknowledged and agreed that is shall not be deemed unreasonable to
        withhold consent in respect of any Restricted Transaction which is inconsistent with, or in
        any way jeopardizes, the Vendor’s ability to fulfill its obligations under this
        Agreement). The Vendor further agrees that should any Vendor Party be approached by the
        Person wishing to engage any Vendor Party in discussions, investigations or negotiations
        relating to a Restricted Transaction, the Vendor shall forthwith advise the Purchaser in
        writing of the particulars of the approach and the identity of the subject
        Person.

        
            	
                        

                        
                        (3)

                    	
                        
                        Conduct of Business Prior to Closing

                    

        

        
        During the Interim Period, the Vendor shall do the following:

        
        (a)       Conduct Business in Ordinary
        Course—Except as otherwise contemplated or permitted by this Agreement, the Vendor
        shall conduct the Business in the ordinary and normal course and shall not, without the
        prior written consent of Purchaser, enter into any transaction which, if entered into
        before the date of this Agreement, would cause any representations or warranties of the
        Vendor contained in this Agreement to be incorrect. Without restricting the generality of
        the foregoing, it is expressly agreed that the Vendor shall continue to operate the Vendor
        Poker Room from the TAIN centralized poker room throughout the Interim Period. Save and
        except as may be otherwise expressly set forth herein, and without restricting the
        generality of anything in this Agreement, the Vendor expressly agrees not to alter its
        marketing of the Business between the execution of
        this Agreement and the Closing Date, including altering its policies in respect of
        promotional bonuses, affiliate fees and rake back;

        
        (b)       Perform
        Obligations—The Vendor shall comply with all applicable laws, regulations, by-laws
        and other governmental requirements of each jurisdiction in which the Business is carried
        on;

        
        (c)       Material
        Changes—The Vendor shall not take any action which would result in any material
        adverse change in or to the Purchased Assets or the Business or sell, transfer or dispose
        of any of the Purchased Assets, other than in the ordinary course of
        business;

        
        (d)       Liens—The
        Vendor shall not suffer or permit any mortgages, pledges, hypothecs,

        - 17
        -

         

         

        
        
        

        
        security interests, deemed trusts, liens, charges, rights or claims of other
        Persons, or any other encumbrances whatsoever, to attach to or affect the Purchased
        Assets;

        
        (e)       Discharge Liabilities –
        The Vendor shall pay, when due, any obligations incurred in the ordinary course of the
        operation of the Business;

        
        (f)        Preserve the Goodwill
        – The Vendor shall exercise its best efforts to preserve the goodwill of the Business
        and the present relationship with customers and others having business relationships with
        the Business;

        
        (g)       Maintain Assets – The
        Vendor shall maintain the Purchased Assets consistent with its past practice;

        
        (h)       Maintain Books and Records
        – The Vendor shall maintain its books, records and accounts in the ordinary course of
        business on a basis consistent with past practices;

        
        (i)        Representations,
        Warranties and Conditions – The Vendor shall use its reasonable commercial efforts to
        ensure that the Vendor’s representations and warranties in Section 5 hereof remain
        true and correct in all material respects at the Closing as if such representations and
        warranties were made at and as of Closing and to satisfy or cause to be satisfied the
        conditions set forth in Section 8(1); and

        
        (j)        Advise of Changes –
        The Vendor shall promptly advise the Purchaser of any material changes in the financial
        condition, business affairs or prospects of the Business or the Assets.

        
            	
                        

                        
                        (4)

                    	
                        
                        Due Diligence Investigations

                    

        

        The
        Vendor shall in good faith cooperate with the Purchaser in the conduct of its due diligence
        investigations relating to the Purchased Assets, the Assumed Liabilities and the Business
        (which investigations shall be completed, in the sole discretion of the Purchaser, on or
        prior to the Closing Date) and shall make available to the Purchaser, on a timely basis and
        upon reasonable request, any and all information, documentation and personnel related to
        the Business, the Purchased Assets and the Assumed Liabilities as the Purchaser may from
        time to time request; provided that the Purchaser shall not be allowed to take a copy of
        any database of the Vendor’s customers and will not be provided with any personal
        information of specific customers during the due diligence process, and the Purchaser may
        not contact any specific customers of the Business without the prior express written
        consent of the Vendor. Without restricting the generality of the foregoing, it is expressly
        agreed that the Purchaser shall be entitled, as part and parcel of its due diligence
        investigations, to contact any contractors and suppliers of the
        Business, in order to discuss the Business with said parties, and the Vendor
        shall take any and all such steps and may be necessary or desirable in order to facilitate
        such contacts and communications. It is hereby agreed by the Vendor that all information
        and documentation provided to the Purchaser by the Vendor and or its agents or
        representatives in respect of the Purchased Assets, the Assumed Liabilities and the
        Business as part and parcel of the Purchaser’s due diligence investigations shall, to
        the best of the Vendor’s knowledge, be complete and accurate in all material
        respects, and the Vendor shall disclose to the Purchaser any and all information and
        documentation relating to the Purchased Assets, the Assumed Liabilities and the Business as
        would be considered by a reasonable purchaser to be material to its due
        diligence

        - 18
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        investigations regarding the purchase of the Purchased Assets and the
        assumption of the Assumed Liabilities.

        
            	
                        

                        
                        (5)

                    	
                        
                        Delivery of Books and Records

                    

        

        At
        the Closing Time, the Vendor shall deliver to the Purchaser the following documents: (i)
        copies of all business books and records used in the conduct of the Business, including
        without limitation, all financial, operating, legal and customer records (including,
        without limitation, customer lists, databases and all other information relating to
        customers of the Vendor); and (ii) copies of all employee records with respect to employees
        of the Vendor hired by the Purchaser. All books and records shall be delivered to the
        Purchaser in electronic format on Closing, with any relevant hard copies to be delivered to
        the Purchaser within a reasonable period of time following the Closing Date.

        
            	
                        

                        
                        (6)

                    	
                        
                        Actions to Satisfy Closing Conditions

                    

        

        Each
        Party hereby agrees to take all such actions as are within its power to control, and to use
        commercially reasonable efforts to cause other actions to be taken which are not within its
        power to control, so as to ensure compliance with any conditions set forth in Article 8
        which are for the benefit of the other Party.

        
            	
                        

                        
                        (7)

                    	
                        
                        Business Names

                    

        

        
        Immediately after the Closing Date and in any case no later than ten (10)
        days thereafter, the Vendor and the Vendor Guarantor shall make application to the relevant
        authorities to change the Vendor’s corporate name, and the corporate name of any
        other entity owned or controlled (directly or indirectly) by the Vendor Guarantor, and
        shall discontinue further use of the names “Parbet”, “Parbet.com”,
        “Parbet.com Limited” and any derivatives thereof and each agree not to directly
        or through a Legal Entity Affiliate, use names similar to those names after the Closing
        Date (except for such non-commercial use as may be required prior to the effective date of
        the corporate name change referred to herein). Such corporate name changes shall take place
        no later than thirty (30) days after the Closing Date, unless there is a delay which is
        beyond the control of the Vendor. If requested by the Purchaser, the Vendor shall also take
        such action as may be necessary in order to assist the Parbet Operator or any of its
        affiliates to change their corporate names to names including any of the Vendor’s
        former names. The Vendor shall provide the Purchaser all such reasonable evidence of
        compliance with the provisions of this Paragraph 6(7) as the Purchaser may request. For
        greater certainty, and subject to as is expressly set forth above, the Vendor and the
        Vendor Guarantor shall not use the trade names and marks “Parbet”,
        “Parbet.com”, “Parbet.com Limited”,
        or any derivatives thereof, in any manner, and for any purpose, whatsoever at any time
        following the Closing Date.

        
            	
                        

                        
                        (8)

                    	
                        
                        Database Conversion

                    

        

        It
        is expressly acknowledged and agreed that a material part of the Purchased Assets is the
        Vendor’s database of customers playing poker in the Vendor Poker Room (the
        “Vendor End Users”). It is
        further acknowledged and agreed that in order for the Purchaser to maximize the value of
        the Purchased Assets being acquired, it is required to convert the Vendor End Users
        into

        - 19
        -

         

         

        
        
        

        End
        Users. In this regard, the Purchaser intends to create end user accounts for all Vendor End
        Users with the Parbet Poker Room, to be accessible by all Vendor End Users immediately
        following the Time of Closing (the “New End User
        Accounts”), which New End User Accounts will be created
        using the Vendor’s existing information about the Vendor End Users, including without
        limitation, each said end user’s name, address, user id, password and account balance
        (the “End User
        Information”). It is expressly acknowledged and agreed by
        the Parties that, in connection with establishing the New End User Accounts, the Parties
        shall perform a data conversion process (as more particularly described in Schedule I)
        whereby the End User Information would be extracted from the Vendor Poker Room and used to
        create the New End User Accounts in the Parbet Poker Room (the
        “Conversion Process”). It is
        expressly agreed that the Vendor shall provide to the Purchaser any and all information,
        documentation and assistance as the Purchaser may reasonably require in order to complete
        the Conversion Process as described in Schedule I, having regard to the fact that the
        Vendor is affiliated with the Person that owns TAIN, which is the centralized poker network
        on which the Business is presently conducted. It is expressly acknowledged that the
        Purchaser shall require the cooperation and assistance of the Vendor in completing the
        software programs and other tools as are necessary in order to complete the Conversion
        Process, and the Vendor agrees to provide such cooperation and assistance throughout the
        Interim Period.

        
            	
                        

                        
                        (9)

                    	
                        
                        Material Contracts

                    

        

        
        Forthwith after the execution of this Agreement, the Vendor shall provide
        the Purchaser with copies of all material contracts as set forth in Schedule L, and, to the
        extent such material contracts are not evidenced in writing, detailed summaries of such
        oral material contracts. As soon as reasonably practical thereafter, the Purchaser shall
        review the material contracts (and/or summaries thereof) in order to determine which such
        contracts the Purchaser wishes to assume as at the Closing Date
        (“Assumed Material
        Contracts”). Both the Vendor and the Purchaser agree to use
        reasonable best efforts during the Interim Period to effect an assignment of the Assumed
        Material Contracts to the Purchaser at the Closing Date.

        
            	
                        

                        
                        (10)

                    	
                        
                        Additional Escrow Agent Costs

                    

        

        The
        Vendor and the Purchaser agree to share equally in any and all additional costs and charges
        levied by the Escrow Agent above and beyond the Escrow Fee (as such term is defined in the
        Purchase Price Escrow Agreement) (“Additional Escrow Agent
        Costs”). In the event that either the Purchaser or the
        Vendor makes payment in full to the Escrow Agent for the Additional
        Escrow Agent Costs, one half of such Escrow Agent Costs shall
        be re-imbursed to the paying party by the non-paying party.

        
            	
                        
                        (11)

                    	
                        
                        Employees

                    

        

        
        Non-Hiring of Employees – The Vendor expressly acknowledges that the
        Purchaser is not required to hire any of the Employees and nothing herein shall be
        construed so as to place any obligation on the Purchaser to hire any Employees. The
        Purchaser shall have the right to offer employment to any of the Employees, effective to
        the Closing Date. In the event that the Vendor decides to terminate any of the Employees
        not hired by the Purchaser (“Terminated
        Employees”), the Vendor agrees that it shall be liable for
        the payment of all legal obligations

        - 20
        -

         

        
        
        

        
        relating to the termination of employment of any Terminated Employee. The
        Vendor’s liability shall extend to all amounts required either by statute or at
        common law to be paid to any Terminated Employee, including pay in lieu of notice,
        termination pay, severance pay, vacation pay and all other outstanding amounts.

        
            	
                        

                        
                        (12)

                    	
                        
                        Bulk Sales

                    

        

        The
        Vendor shall comply with all bulk sales legislation in each jurisdiction in which the
        Purchased Assets are located in connection with the transactions contemplated under this
        Agreement.

        
            	
                        

                        
                        (13)

                    	
                        
                        Non-Solicitation

                    

        

        The
        Vendor shall and shall cause the Vendor Guarantor, Conny Gesar and Christian Haupt to enter
        into a Non-Solicitation Agreement in the form attached hereto as Schedule F.

        
            	
                        

                        
                        7.

                    	
                        
                        INDEMNIFICATION

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Indemnification by Vendor

                    

        

        The
        Vendor agrees to indemnify and hold the Purchaser harmless against and in respect of any
        loss, damage, claim, cost or expense whatsoever, including any and all incremental
        out-of-pocket costs, including, without limitation, all reasonable legal and accounting
        fees, which the Purchaser may incur, suffer or be required to pay, pursuant to any claim,
        demand, action, suit, litigation, charge, complaint, prosecution or other proceeding
        (collectively “Claim”) that
        may be made or asserted against or affect the Purchaser, provided, however, that the
        subject matter of any such Claim relates to or arises out of or in connection with the
        following matters:

        
        (i)        
        any misrepresentation or breach of any warranty, agreement, covenant or
        obligation of the Vendor contained in this Agreement or in any agreement, schedule,
        certificate or other document required to be entered into or delivered by the
        Purchaser;

        
        (ii)        any
        amount payable to or in respect of any Employee or Terminated Employee howsoever arising,
        save and expect for amounts payable to Employees hired by the Purchaser and which arise or
        relate to the period following the Closing Time; or

        
        (iii)       any
        liabilities of the Business relating, either directly or indirectly, to the operation of
        the Business prior to the Closing Time, save and except for Assumed Liabilities.

        
            	
                        

                        
                        (2)

                    	
                        
                        Indemnification by Purchaser

                    

        

        
        The Purchaser agrees to indemnify and hold the Vendor
        harmless against and in respect of any loss, damage, claim, cost or expense whatsoever,
        including any and all incremental out-of-pocket costs, including, without limitation, all
        reasonable legal and accounting fees, which the Vendor may incur, suffer or be required to
        pay, pursuant to any Claim that may be made or asserted against or affect the Vendor,
        provided, however, that the subject matter of any such Claim relates to or arises out of or
        in connection with the following matters:

        
        (i)        
        any misrepresentation or breach of any warranty, agreement, covenant or
        obligation of the Purchaser contained in this Agreement or in any agreement, schedule,
        certificate or other document required to be entered into or delivered by the Purchaser;
        or

        - 21
        -

         

         

        
        
        

        
        (ii)        any
        liabilities of the Business arising in respect of the operation of the Business on or after
        the Closing Time (including, without limitation, liabilities arising from a breach of
        Privacy Laws), save and except in the event that such liabilities have arisen as a result
        of a breach of any representation, warranty or covenant of the Vendor or the Vendor
        Guarantor hereunder.

        
            	
                        

                        
                        (3)

                    	
                        
                        Claims by Third Parties

                    

        

        
        (a)       For the purposes of this
        Section 7(3) “Third Party
        Claim” means any demand which has been made on, or
        communicated to, the Vendor or the Purchaser by or on behalf of any Person other than the
        persons mentioned above in this definition and which, if maintained or enforced, might
        result in a loss, liability or expense of the nature described in either Subsection 7(1) or
        Section 7(2).

        
        (b)       Promptly upon receipt by either
        the Purchaser or the Vendor (the
        “Indemnitee”) of notice of
        any Third Party Claim in respect of which the Indemnitee proposes to demand indemnification
        from the other party to this Agreement (the
        “Indemnitor”), the
        Indemnitee shall forthwith give notice to that effect to the Indemnitor.

        
        (c)       The Indemnitor shall have the
        right, exercisable by giving notice to the Indemnitee not later than thirty (30) days after
        receipt of the notice described in Subsection 7(3)(b), to assume the control of the
        defence, compromise or settlement of the Third Party Claim, provided that:

        
        (i)        
        the Indemnitor shall first deliver to the Indemnitee its written consent to
        be joined as a party to any action or proceeding relating thereto; and

        
        (ii)       
        Indemnitor shall at the Indemnitee’s request furnish it with
        reasonable security against any costs or other liabilities to which it may be or become
        exposed by reason of such defence, compromise or settlement.

        
        (d)       Upon the assumption of control
        by the Indemnitor as aforesaid, the Indemnitor shall, at its expense, diligently proceed
        with the defence, compromise or settlement of the Third Party Claim at the
        Indemnitor’s sole expense, including employment of counsel reasonably satisfactory to
        the Indemnitee, and in connection with such proceedings, the Indemnitee shall co-operate
        fully, but at the expense of the Indemnitor, to make available to the Indemnitor all
        pertinent information and witnesses under the Indemnitee’s control and to make such
        assignments and take such other steps as in the opinion of counsel for the Indemnitor are
        necessary to enable the Indemnitor to conduct such defence, provided always that the
        Indemnitee shall be entitled to reasonable security
        from the Indemnitor for any expense, costs or other liabilities to which it may be or may
        become exposed by reason of such co-operation.

        
        (e)       The final
        determination of any such Third Party Claim, including all related costs and expenses, will
        be binding and conclusive upon the Parties as to the validity or invalidity, as the case
        may be, of such Third Party Claim against the Indemnitor.

        
        (f)        Should the
        Indemnitor fail to give notice to the Indemnitee as provided in Subsection 7(3)(b), the
        Indemnitee shall be entitled to make such settlement of the Third Party Claim as in its
        sole discretion may appear advisable, and such settlement or any other final determination
        of the Third Party Claim shall be binding upon the Indemnitor.

        - 22
        -

         

         

        
        
        

         

        

        
            	
                        

                        
                        (4)

                    	
                        
                        Details of Claims

                    

        

        With
        respect to any claim provided for under Subsection 7(1) and Section 7(2), no indemnity
        under this Agreement shall be sought unless written notice providing reasonable details of
        the reasons for which the indemnity is sought is provided to the Vendor or the Purchaser,
        as the case may be.

        
            	
                        
                        (5)

                    	
                        
                        Limitation of Liability

                    

        

        The
        following limitations of liability shall apply to the provisions of this Article
        7:

        
            	
                        
                        (a)

                    	
                        
                        the Purchaser, on the one hand, and the Vendor, on the other
                        hand, shall not be entitled to indemnification from the other of them until
                        the aggregate amount of all of such Party’s claims for
                        indemnification exceeds €100,000 and, upon the aggregate of such
                        Party’s claims exceeding €100,000, the other party shall be
                        required to pay any amounts owing, including such initial €100,000
                        amount; provided that the maximum the Vendor and/or the Purchaser, as the
                        case may be, shall be required to pay shall not exceed, in the aggregate,
                        the combined sum of the Purchase Price, including all Earn Out Amounts paid
                        to the Vendor; provided that, notwithstanding the foregoing, the
                        Vendor’s liability in respect of i) fraudulent misrepresentations, or
                        ii) a breach of the representations and warranties contained in Section
                        5(t) hereof and related to Privacy Laws, shall be unlimited, and the
                        Purchaser’s liability in respect of a breach of Privacy Laws by the
                        Purchaser (as set forth in Subsection 7(2)(ii)) shall be
                        unlimited.

                    

        

        
            	
                        
                        (b)

                    	
                        
                        neither the Purchaser nor the Vendor shall be liable to the
                        other for any indemnification claim(s) the subject of which would be wholly
                        covered by any existing policy of insurance maintained by the Party raising
                        the claim(s) for indemnity; provided, however, that nothing herein shall be
                        construed so as to require the Purchaser or the Vendor to maintain any form
                        of policy of insurance;

                    

        

        
            	
                        
                        (c)

                    	
                        
                        the indemnification provisions contained in this Article 7
                        shall not apply to any consequential, incidental or special damages
                        incurred by the Purchaser and/or the Vendor, as the case may be;
                        and

                    

        

        
            	
                        
                        (d)

                    	
                        
                        the Vendor and the Purchaser agree to use commercially
                        reasonable efforts to mitigate any damages or potential damages which may
                        be the subject of a claim for indemnification.

                    

        

        
            	
                        
                        8.

                    	
                        
                        CONDITIONS PRECEDENT TO THE PERFORMANCE BY THE PURCHASER
                        AND THE VENDOR OF THEIR OBLIGATIONS UNDER THIS AGREEMENT

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Purchaser’s Conditions

                    

        

        The
        obligation of the Purchaser to complete the transactions contemplated by this Agreement
        shall be subject to the satisfaction of, or compliance with, at or before the Closing Time,
        each of the following conditions precedent (each of which is hereby acknowledged to be
        inserted for the exclusive benefit of the Purchaser and may be waived by it in whole or in
        part):

        - 23
        -

         

         

        
        
        

        
        (a)       Truth and Accuracy of
        Representations of the Vendor at the Closing Time—All of the representations and
        warranties of the Vendor and Vendor Guarantor made in or under this Agreement, shall be
        true and correct in all material respects as at the Closing Time and with the same effect
        as if made at and as of the Closing Time and the Purchaser shall have received a
        certificate from a senior officer of the Vendor and the Vendor Guarantor confirming the
        truth and correctness of the representations and warranties of the Vendor and the Vendor
        Guarantor.

        
        (b)       Performance of
        Obligations—The Vendor shall have performed or complied with, in all material
        respects, all their obligations, covenants and agreements under this Agreement.

        
        (c)       Receipt of Closing
        Documentation—All instruments of conveyance and other documentation and assurances
        relating to the sale and purchase of the Purchased Assets including, without limitation,
        bills of sale and other documentation, and all actions and proceedings taken on or prior to
        the Closing in connection with performance by the Vendor of its obligations under this
        Agreement shall be satisfactory to the Purchaser and their counsel, acting reasonably, and
        the Purchaser shall have received copies of all such documentation or other evidence as it
        may reasonably request in order to establish the consummation of the transactions
        contemplated under this Agreement and the taking of all corporate proceedings in connection
        under those transactions in compliance with this Subsection 8(1)(c), in form (as to
        certification and otherwise) and substance satisfactory to the Purchaser and its counsel,
        acting reasonably.

        
        (d)       Closing
        Documentation—Without limiting the generality of Subsection 8(1)(c), the Purchaser
        shall have received at or before the Closing Time sufficient duly executed copies of the
        following:

        
        (i)        
        certified copy of a resolution of the directors and shareholders of the
        Vendor and Vendor Guarantor approving this Agreement and the transactions contemplated
        under this Agreement;

        
        (ii)       
        certificate of a senior officer of the Vendor and Vendor Guarantor
        concerning the matters referred to in Subsection 8(1)(a) and confirming that all conditions
        under this Agreement in favour of the Purchaser have been either fulfilled or
        waived;

        
            	
                         

                    	
                        
                        (iii)

                    	
                        
                        bill of sale;

                    

        

        
            	
                         

                    	
                        
                        (iv)

                    	
                        
                        assignment of Intellectual Property Rights;

                    

        

        
            	
                         

                    	
                        
                        (v)

                    	
                        
                        Non-Solicitation Agreement; and

                    

        

        
        (vi)       
        detailed statement from a senior officer of the Vendor setting forth all
        Assumed Liabilities, and attesting to the truth and accuracy thereof.

        
        (e)       Opinions of
        Counsel for Vendor and Vendor Guarantor —The Purchaser shall have received opinions
        dated the Closing Date, in form and substance satisfactory to the Purchaser, acting
        reasonably, from counsel for the Vendor and from counsel for the Vendor Guarantor,
        confirming the matters warranted in Subsections 5(1)(a), 5(1)(c) and 5(1)(e) in the case of
        the Vendor and the matters warranted in Subsections 5(3)(a), 5(3)(b) and 5(3)(c) in the
        case of the Vendor Guarantor, which opinions may rely on opinions of counsel in other
        jurisdictions with respect to matters of law in those jurisdictions. In giving such
        opinions, counsel to the Vendor and counsel to the Vendor Guarantor may rely on
        certificates of senior officers of the Vendor

        - 24
        -

         

         

        
        
        

        
            and the Vendor Guarantor, as applicable, as to factual matters.
        

        
        (f)        Consents, Authorizations
        and Registrations—All consents, approvals, orders and authorizations of or from
        governmental or regulatory authorities required in connection with the completion of the
        transactions contemplated in this Agreement shall have been obtained on or prior to the
        Closing Time.

        
        (g)       No Actions Taken Restricting
        Sale—No action or proceeding by law or in equity shall be pending or threatened by
        any person, firm, corporation, government, governmental authority, regulatory body or
        agency to enjoin, restrict or prohibit the purchase and sale of the Purchased Assets
        contemplated under this Agreement.

        
        (h)       Consulting Services
        Accepted—Each of Juha Kvist and Johan Wilsson shall have entered into a management
        and consulting services contract with the Parbet Operator in such form, and upon such
        terms, as are satisfactory to the Purchaser.

        
        (i)        Conversion Process
        – The Vendor shall have fulfilled all of its obligations in respect of the Conversion
        Process, including without limitation, all obligations set forth in Schedule I
        hereto.

        
        (j)        Due Diligence – The
        Purchaser shall have completed its due diligence investigations, and shall be satisfied in
        its sole and absolute discretion that its due diligence investigations with respect to the
        Purchased Assets, the Assumed Liabilities and the Business did not identify any issue(s)
        which it deems in good faith to be commercially material to the Purchased Assets, the
        Assumed Liabilities and/or the Business, or its decision to acquire same. For greater
        certainty, the following shall not be considered to be commercially material:

        
        (i)         a
        drop in the average daily gross amount of Poker Rake and Poker Tournament House Fees earned
        through the operation of the Business from December 1, 2006 to January 15, 2007 (excluding
        December 24, 2006 and January 1, 2007); provided that the average daily gross amount of
        Poker Rake and Poker Tournament House Fees earned during said period by the Business does
        not fall below USD$14,250.00 per day (in the aggregate);

        
        (ii)        a
        material adverse change in the laws or regulations related to the operation of the Business
        in any jurisdiction other than Malta, Sweden, Finland or Norway;

        
        (iii)      
        the fact that the Vendor currently offers various payment solutions to
        Vendor End Users located in Sweden and Finland, which payment solutions the Parbet Operator
        may not be able to offer to End Users located in Sweden and Finland immediately following
        the Closing Time.

        
        Should the Purchaser’s due diligence investigations
        identify any issue(s) which the Purchaser deems to be commercially material to the
        Purchased Assets, the Assumed Liabilities and/or the Business, or the Purchaser’s
        decision to acquire same, the Purchaser agrees to forthwith inform the Vendor in writing of
        same and provide reasonable particulars of such issue(s).

        
        (k)       Material Adverse
        Change – There will have been no material adverse change in and to the Purchased
        Assets, the Assumed Liabilities or the Business from the date of this Agreement to the
        Closing Date. For greater certainty, the following shall not be considered a material
        adverse

        - 25
        -

         

         

        
        
        

        
        change:

        
        (i)         a
        drop in the average daily gross amount of Poker Rake and Poker Tournament House Fees earned
        through the operation of the Business from December 1, 2006 to January 15, 2007 (excluding
        December 24, 2006 and January 1, 2007); provided that the average daily gross amount of
        Poker Rake and Poker Tournament House Fees earned during said period by the Business does
        not fall below USD$14,250.00 per day (in the aggregate);

        
        (ii)        a
        material adverse change in the laws or regulations related to the operation of the Business
        in any jurisdiction other than Malta, Sweden, Finland or Norway;

        
        (iii)       the fact
        that the Vendor currently offers various payment solutions to Vendor End Users located in
        Sweden and Finland, which payment solutions the Parbet Operator may not be able to offer to
        End Users located in Sweden and Finland immediately following the Closing Time.

        
            	
                        

                        
                        (2)

                    	
                        
                        Vendor’s Conditions

                    

        

        The
        obligations of the Vendor to complete the transactions contemplated by this Agreement shall
        be subject to the satisfaction of, or compliance with, at or before the Closing Time, each
        of the following conditions precedent (each of which is hereby acknowledged to be inserted
        for the exclusive benefit of the Vendor and may be waived by the Vendor in whole or in
        part):

        
        (a)       Truth and Accuracy of
        Representations of the Purchaser at Closing Time—All of the representations and
        warranties of the Purchaser made in or under this Agreement, shall be true and correct in
        all material respects as at the Closing Time and with the same effect as if made at and as
        of the Closing and the Vendor shall have received a certificate from a senior officer of
        the Purchaser and the Purchaser Guarantor confirming the truth and correctness of such
        representations and warranties of the Purchaser and the Purchaser Guarantor.

        
        (b)       Performance of
        Agreements—The Purchaser shall have performed or complied with, in all respects, all
        their other obligations, covenants and agreements under this Agreement.

        
            	
                         

                    	
                        
                        (c)

                    	
                        
                        Closing Documents—The Vendor shall have received at or
                        before the Closing Time:

                    

        

        
        (i)        
        certified copy of a resolution of the board of directors of the Purchaser
        approving this Agreement and the transactions contemplated under this Agreement;

        
        (ii)       
        certificate of a senior officer of the Purchaser and the Purchaser Guarantor
        concerning the matters referred to in Subsection 8(2)(a) and confirming that all conditions
        under this Agreement in favour of the Vendor have been either fulfilled or waived;
        and

        
            	
                         

                    	
                        
                        (iii)

                    	
                        
                        Assumption Agreement.

                    

        

        
        (d)       Opinions of
        Counsel for Purchaser and Purchaser Guarantor—The Vendor shall have received opinions
        dated the Closing Date, from counsel for the Purchaser and from counsel for the Purchaser
        Guarantor, confirming the matters warranted in Subsections 5(2)(a), 5(2)(b) and 5(2)(d) in
        the case of the Purchaser and the matters warranted in Subsections 5(4)(a), 5(4)(b) and
        5(4)(c) in the case of the Purchaser Guarantor, which opinions may rely on opinions of
        counsel

        - 26
        -

         

         

        
        
        

        
        in other jurisdictions with respect to matters of law in those
        jurisdictions. In giving such opinion, counsel to the Purchaser and counsel to the
        Purchaser Guarantor may rely on certificates of senior officers of the Purchaser and the
        Purchaser Guarantor, as applicable, as to factual matters.

        
        (e)       No Actions Taken Restricting
        Sale—No action or proceeding by law or in equity shall be pending or threatened by
        any person, firm, corporation, government, governmental authority, regulatory body or
        agency to enjoin, restrict or prohibit the purchase and sale of the Purchased Assets
        contemplated under this Agreement.

        
        (f)        Payment of Purchase
        Price—The Purchaser shall have tendered to the Escrow Agent a wire transfer for
        payment of the amount of the Purchase Price required to be paid into escrow pursuant to
        Section 3(2) hereof.

        
        (g)       Conversion Process – The
        Purchaser shall have fulfilled all of its obligations in respect of the Conversion Process,
        including without limitation, all obligations set forth in Schedule I hereto.

        
        (h)       Consents, Authorizations and
        Registrations—All consents, approvals, orders and authorizations of or from
        governmental or regulatory authorities required in connection with the completion of the
        transactions contemplated in this Agreement shall have been obtained on or prior to the
        Closing Time including:

        
            	
                        

                        
                        (3)

                    	
                        
                        Failure to Satisfy Conditions

                    

        

        If
        any condition set forth in Sections 8(1) or 8(2) is not satisfied on or before the Closing
        Time, the Party entitled to the benefit of such condition (the
        “First Party”) may terminate
        this Agreement by notice in writing to the other Party and in such event the First Party
        shall be released from all obligations under this Agreement, and unless the First Party can
        show that the condition or conditions which have not been satisfied and for which the First
        Party has terminated this Agreement are reasonably capable of being performed or caused to
        be performed by the other Party then the other Party shall also be released from all
        obligations under this Agreement, except that the First Party shall be entitled to waive
        compliance with any such conditions, obligations or covenants in whole or in part if it
        sees fit to do so without prejudice to any of its rights of termination in the event of
        non-performance of any other condition, obligation or covenant, or whole or in
        part.

        
            	
                        

                        
                        (4)

                    	
                        
                        Destruction or Expropriation

                    

        

        
        Up to the Closing Time, all risk of loss or damage by fire or
        other cause or hazard to the Purchased Assets shall remain with the Vendor and the Vendor
        shall hold all insurance policies and any proceeds thereof in trust for the Vendor and the
        Purchaser. If, prior to the Closing Time, there occurs any material destruction or damage
        by fire or other cause or hazard to any of the Purchased Assets, or if the Purchased Assets
        or any material part of them are expropriated or forcefully taken by any governmental
        authority or if notice of intention to expropriate a material part of the Purchased Assets
        has been filed in accordance with applicable legislation, then the Purchaser may, at its
        option:

        
            	
                        
                        (a)

                    	
                        
                        terminate this Agreement by notice to the Vendor;
                        or

                    

        

        
        (b)       elect to
        complete the purchase and sale of the Purchased Assets, in which event
        all

        - 27
        -

         

         

        
        
        

        
        insurance proceeds or expropriation proceeds, as the case may be, shall be
        assigned and/or paid by the Vendor to the Purchaser; or

        
        (c)       elect to complete the purchase
        and sale subject to the Purchase Price being reduced to reflect such change or
        expropriation, such reduction to be based on the book value of the Purchased
        Assets.

        
            	
                        

                        
                        9.

                    	
                        
                        CLOSING ARRANGEMENTS

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Time of Closing

                    

        

        The
        completion of the transactions contemplated by this Agreement shall take place at the
        Closing Time on the Closing Date.

        
            	
                        

                        
                        (2)

                    	
                        
                        Closing Arrangements

                    

        

        At
        the Closing Time, upon fulfillment of all the conditions under this Agreement which have
        not been waived in writing by the Purchaser or the Vendor respectively:

        
        (a)       Purchase and Sale of Purchased
        Assets—The Vendor shall sell and the Purchaser shall purchase the Purchased Assets
        for the Purchase Price payable under this Agreement.

        
        (b)       Delivery of Closing
        Documents—The Parties shall respectively deliver the Closing Documents.

        
        (c)       Actual Possession—The
        Vendor shall deliver actual possession of the Purchased Assets to the Purchaser.

        
        (d)       Payment of Purchase
        Price—On the fulfillment of the foregoing terms of this Article 9, the portion of the
        Purchase Price payable on Closing shall be paid as provided for in Article 3 and the
        Purchase Price Escrow Agreement.

        
            	
                        

                        
                        (3)

                    	
                        
                        Tender

                    

        

        Any
        tender of documents or money hereunder may be made upon the Parties or their respective
        counsel and money may be tendered by official bank draft drawn upon a Canadian chartered
        bank or by negotiable cheque payable in Euros and certified by a Canadian chartered bank or
        trust company.

        
            	
                        

                        
                        10.

                    	
                        
                        GUARANTORS

                    

        

        
        (a)       The Vendor
        Guarantor, on a joint and several liability basis with the Vendor, hereby unconditionally
        agrees to guarantee all of the obligations and liabilities of the Vendor hereunder. In the
        event that the Vendor fails to fulfill any monetary obligations which arise pursuant to the
        terms of the Agreement (other than by reason of a breach of this Agreement by the
        Purchaser), the Vendor Guarantor agrees to make payment in connection therewith within
        thirty (30) days after receipt of written notice by the Purchaser to the Vendor
        Guarantor.

        
        (b)       The Purchaser
        Guarantor, on a joint and several liability basis with the Purchaser, hereby
        unconditionally agrees to guarantee all of the obligations and liabilities of the Purchaser
        hereunder. In the event that the Purchaser fails to fulfill any monetary obligations which
        arise pursuant to the terms of the Agreement (other than by reason of a breach of this
        Agreement by the Vendor), the Purchaser Guarantor agrees to make payment in connection
        therewith within thirty (30) days after receipt of written notice by the Vendor to the
        Purchaser Guarantor.

        - 28
        -

         

         

        
        
        

         

        

        
            	
                        

                        
                        11.

                    	
                        
                        NOTICES

                    

        

        Any
        notice, direction or other instrument required or permitted to be given by either party
        under this Agreement shall be in writing and shall be sufficiently given if delivered
        personally, sent by prepaid first class mail or transmitted by telecopier or other form of
        electronic communication during the transmission of which no indication of failure of
        receipt is communicated to the sender:

        
            	
                        
                        (a)

                    	
                        
                        in the case of a notice to the Vendor at:

                    

        

        
        66 Old Bakery Street

        
        Valletta VLT 09

        
        Malta

        
        Attention: Per Sahlberg

        
        Fax No. 356 21316334

        
         

        
            	
                        
                        (b)

                    	
                        
                        in the case of a notice to the Vendor Guarantor
                        at:

                    

        

        
        Atlectico Nordic B.V.

        
        Weena 340

        
        3012 NJ Rotterdam

        
        The Netherlands

        
        Attention: Rimon Hagen

        
        Fax No. 31 10 412 6115

        
            	
                        
                        (c)

                    	
                        
                        in the case of a notice to the Purchaser at:

                    

        

        
            	
                        
                         

                    	
                        
                        Nimeli Court, 41-49 Agiou Nicolaou Street, Block A,
                        3rd Floor,

                    

        

        
            	
                        
                         

                    	
                        
                        Engomi, 2408 Nicosia, Cyprus

                    

        

        
            	
                        
                         

                    	
                        
                        Attention: A. J. Slavinski

                    

        

        
            	
                        
                         

                    	
                        
                        Fax No. 357 22552500

                    

        

        
            	
                        
                        (d)

                    	
                        
                        in the case of a notice to the Purchaser Guarantor
                        at:

                    

        

        
            	
                        
                         

                    	
                        
                        55 St. Clair West, 3rd Floor

                    

        

        
            	
                        
                         

                    	
                        
                        Toronto, Ontario

                    

        

        
            	
                        
                         

                    	
                        
                        M4V 2Y7

                    

        

        
            	
                        
                         

                    	
                        
                        Attention: President

                    

        

        
            	
                        
                         

                    	
                        
                        Fax No. 416 545 1454

                    

        

        
        Any such notice, direction or other instrument, if delivered
        personally, shall be deemed to have been given and received on the date on which it was
        received at such address, or, if sent by mail, shall be deemed to have been given and
        received on the date which is five (5) days after which it was mailed, provided that if
        either such day is not a Business Day, then the notice shall be deemed to have been given
        and received on the Business Day next following such day. Any notice transmitted by
        telecopier or other form of electronic communication shall be deemed to have been given and
        received on the date of its transmission provided that if such day is not a Business Day or
        if it is received after the end of normal business hours on the date of
        its

        - 29
        -

         

         

        
        
        

        
            transmission at the place of receipt, then it shall be deemed to have
            been given and received at the opening of business in the office of the recipient on
            the first Business Day next following the transmission thereof. If normal mail service,
            telex, telecopier or other form of electronic communication is interrupted by strike,
            slowdown, force majeure or other cause, a notice, direction or other instrument sent by
            the impaired means of communication will not be deemed to be received until actually
            received, and the party sending the notice shall utilize any other such service which
            has not been so interrupted to deliver such notice.
        

        
            	
                        

                        
                        12.

                    	
                        
                        GENERAL

                    

        

        
            	
                        

                        
                        (1)

                    	
                        
                        Expenses

                    

        

        All
        costs and expenses (including, without limitation, the fees and disbursements of legal
        counsel) incurred in connection with this Agreement and the transaction contemplated under
        this Agreement shall be paid by the Party incurring such expenses.

        
            	
                        

                        
                        (2)

                    	
                        
                        Time

                    

        

        Time
        shall be of the essence of this Agreement.

        
            	
                        

                        
                        (3)

                    	
                        
                        Assignment/Successors and Assigns

                    

        

        
        Neither this Agreement nor any rights or obligations under this Agreement
        shall be assignable by either Party without the prior written consent of the other Party.
        Subject to that condition, this Agreement shall enure to the benefit of and be binding upon
        the Parties and their respective heirs, executors, administrators, successors (including
        any successor by reason of amalgamation of any Party) and permitted assigns.

        
            	
                        

                        
                        (4)

                    	
                        
                        Further Assurances

                    

        

        Each
        Party agrees that upon the written request of any other Party, it will do all such acts and
        execute all such further documents, conveyances, deeds, assignments, transfers and the
        like, and will cause the doing of all such acts and will cause the execution of all such
        further documents as are within its power to cause the doing or execution of, as the other
        Party may from time to time reasonably request be done and/or executed as may be required
        to consummate the transactions contemplated under this Agreement or as may be necessary or
        desirable to effect the purpose of this Agreement or
        any document, agreement or instrument delivered under this Agreement and to carry out their
        provisions or to better or more properly or fully evidence or give effect to the
        transactions contemplated under this Agreement, whether before or after the
        Closing.

        
            	
                        

                        
                        (5)

                    	
                        
                        Public Notices

                    

        

        All
        notices to third parties and all other publicity concerning the transactions contemplated
        by this Agreement shall be jointly planned and coordinated by the Vendor and the Purchaser
        and no Party shall act unilaterally in this regard without the prior approval of the other
        Party (such approval not to be unreasonably withheld), except where required to do so by
        law or by the applicable regulations or policies of any regulatory agency of competent
        jurisdiction or any stock exchange.

        
            	
                        

                        
                        (6)

                    	
                        
                        Counterparts

                    

        

        This
        Agreement may be executed by the Parties in separate counterparts each of which when
        so

        - 30
        -

         

        
        
        

        
        executed and delivered shall be an original, and all such counterparts shall
        together constitute one and the same instrument.

        
            	
                        

                        
                        (7)

                    	
                        
                        Applicable Law

                    

        

        This
        Agreement shall be governed by and construed in accordance with the laws of England and
        Wales, without giving effect to any choice or conflict of law provision or rule that would
        cause the application of the laws of any other jurisdiction. Any dispute, claim or
        controversy arising out of or related to this Agreement shall be resolved solely and
        exclusively by binding arbitration in accordance with Rules of Arbitration of the
        International Chamber of Commerce. All arbitration proceedings, including all notices sent,
        filings made and testimony and documentary evidence, shall be in the English language and
        take place in London, England.

        
            	
                        

                        
                        (8)

                    	
                        
                        Confidentiality

                    

        

        The
        parties shall maintain this Agreement and the particulars of the transaction to which it
        relates confidential, and shall not disclose any part thereof to any third party without
        the prior express written consent of the other parties hereto. Unless required by
        applicable law or regulation, no party shall issue a press release or other public
        announcement related to the Agreement, without the prior written consent of all other
        parties hereto. The Purchaser and the Vendor acknowledge the execution of a Mutual
        Non-Disclosure Agreement prior to the commencement of the Purchaser’s due diligence
        investigations, and further acknowledge that the Mutual Non-Disclosure Agreement remains in
        full force and effect.

        
            	
                        

                        
                        (9)

                    	
                        
                        Entire Agreement

                    

        

        This
        Agreement, and any other agreement entered into by the parties in connection with or
        pursuant to this Agreement, together set out the entire agreement and understanding between
        the parties in respect of the sale and purchase of the Business and the Purchased Assets.
        It is agreed that: (i) the Purchaser has not entered into this Agreement in reliance upon
        any representation, warranty or undertaking of any other party which is not expressly set
        out or referred to in this Agreement, or any other agreement entered into by the parties in
        connection with or pursuant to this Agreement; (ii) the Purchaser shall not be entitled to
        any remedy in respect of any misrepresentation or any untrue statement made by or on behalf
        of the Vendor which is not contained in this Agreement or any other
        agreement entered into by the parties in connection with or pursuant to this Agreement; and
        (iii) this section shall not exclude any liability for, or remedy in respect of fraud or
        fraudulent misrepresentation.

        
         

        
        IN WITNESS WHEREOF the Parties
        have duly executed this Agreement this 8th day of January,
        2007.

        
            	
                        
                         

                    	
                        
                        PARBET.COM LTD.

                    

        

        
            	
                        
                         

                    	
                        
                        ________________________________

                    

        

        
            	
                        
                         

                    	
                        
                        Name: Per Sahlberg

                    

        

        
            	
                        
                         

                    	
                        
                        Title:

                    

        

        
         

         

        - 31
        -

         

         

        
        
        

        
        ATLETICO NORDIC B.V., by its

         Managing Director AMACO

        MANAGEMENT SERVICES B.V.

        
            	
                        
                         

                    	
                        
                        ________________________________

                    

        

        
            	
                        
                         

                    	
                        
                        Name: J.L. de Zwart

                    

        

        
            	
                        
                         

                    	
                        
                        Title: Deputy Managing Director

                    

        

        
         

        
            	
                        
                         

                    	
                        
                        WAGERLOGIC LIMITED

                    

        

        
            	
                        
                         

                    	
                        
                        ________________________________

                    

        

        
            	
                        
                         

                    	
                        
                        Name: A. J. Slavinski

                    

        

        
            	
                        
                         

                    	
                        
                        Title: Managing Director

                    

        

        
         

        
            	
                        
                         

                    	
                        
                        CRYPTOLOGIC INC.

                    

        

        
            	
                        
                         

                    	
                        
                        ________________________________

                    

        

        
            	
                        
                         

                    	
                        
                        Name: Stephen Taylor

                    

        

        
            	
                        
                         

                    	
                        
                        Title: Chief Financial Officer

                    

        

         

         

        - 32
        -EXHIBIT 4.7  

        
            
                                                      
                                                      
                                                      
                                                      
                         

             

            
            DATED                      
            2007

            
                	
                            
                            MEDIA CORPORATION PLC AND XWORKS (UK)
                            LIMITED

                            
                            as Sellers

                            
                             

                            
                            GAMING PORTALS LIMITED

                            
                            as Buyer

                            
                             

                            
                            JASON DRUMMOND AND JUSTIN DRUMMOND

                            
                            as Covenantors

                        
	
                            
                            ASSET PURCHASE AGREEMENT

                            
                             

                            
                            for the purchase of certain assets and undertakings of
                            Media Corporation plc and certain of

                            its subsidiaries

                            
                             

                        

            

             

             

             

             

             

             

             

            
            

            

            
            Berwin Leighton Paisner LLP

            
            Adelaide House London Bridge London EC4R 9HA

            tel
            +44 (0)20 7760 1000 fax +44 (0)20 7760 1111

            
            
            

             

            
                
                    
                        
                            
                                
                                    
                                    Contents

                                

                            

                        

                    

                

            

             

            
                	
                            
                            Clause

                        	
                            
                            Name

                        	
                            
                            Page

                        
	1	Definitions and
                        interpretation	 1
	2	Sale of business and
                        assets	 6
	3	Excluded
                        Assets	 7
	4	
                        Consideration	 7
	5	Additional
                        consideration	 8
	6	[INTENTIONALLY LEFT
                        BLANK]	 8
	7	Conduct of Earn-Out
                        Business during the Earn-Out Period	 8
	8	Completion	 8
	9	Business
                        Contract	 9
	10	Customer
                        Deposits	12
	11	The
                        Regulations	13
	12	Indemnity	13
	13	Liabilities	14
	14	
                        Apportionments	14
	15	Warranties and
                        indemnities	15
	16	Seller
                        Indemnity	16
	17	Buyer
                        Warranties	16
	18	Assignment and
                        succession	17
	19	Post-completion
                        provisions	17
	20	VAT	20
	21	
                        Announcements	20
	22	Information and further
                        assurance	20
	23	Rights and remedies of
                        the Buyer	21
	24	Waiver	21
	25	No merger	21
	26	Cumulative
                        rights	21
	27	Contracts (Rights of
                        Third Parties) Act 1999	22
	28	Costs	22
	29	Set-off, withholding tax
                        and grossing-up	22
	30	Invalidity	22
	31	Counterparts	23
	32	
                        Communciations	23
	33	Entire
                        agreement	24
	34	Proper law	24
	
                        	
                        	
                        
	
                            
                            Schedule

                        	
                            
                            Name

                        	
                            
                            Page

                        

            

            
                	
                            
                            1

                        	
                            
                            Schedule 1

                        	
                            
                            25

                        

            

            
                	
                            
                            1

                        	
                            
                            Part 1 The Business

                        	
                            
                            25

                        

            

            
                	
                            
                            2

                        	
                            
                            Schedule 2

                        	
                            
                            26

                        

            

            
                	
                            
                            3

                        	
                            
                            Warranties

                        	
                            
                            27

                        

            

            
                	
                            
                            4

                        	
                            
                            Seller protection provisions

                        	
                            
                            33

                        

            

            
                	
                            
                            5

                        	
                            
                            Conduct of Earn-Out Business during the Earn-Out
                            Period

                        	
                            
                            37

                        

            

            
                	
                            
                            6

                        	
                            
                            Determination of the Average Monthly Revenue

                        	
                            
                            39

                        

            

            
                	
                            
                            7

                        	
                            
                            Transitional Services for Casino.co.uk

                        	
                            
                            42

                        

            

            
                	
                            
                            8

                        	
                            
                            Portal Management Software

                        	
                            
                            44

                        
	
                        	
                        	
                        
	
                        	
                        	
                        

            

            
             

            
                	
                            
                            Execution Page

                        	
                            
                            49

                        

            

            
            
            

             

            
            DATED                                         
            2007

            
            PARTIES

            
                	
                            
                            (1)

                        	
                            
                            MEDIA CORPORATION PLC, a
                            company incorporated in England with registered number 04058698 whose
                            registered office is at 77 Queen Victoria Street, London, EC4V 4AY
                            (“Media
                            Corp”);

                        

            

            
                	
                            
                            (2)

                        	
                            
                            XWORKS (UK) LIMITED, a
                            company incorporated in England with registered number 03836178 whose
                            registered office is at 77 Queen Victoria Street, London, EC4V 4AY
                            (“XWorks”);

                        

            

            
                	
                            
                            (3)

                        	
                            
                            GAMING PORTALS LIMITED, a
                            company incorporated in the Republic of Ireland with registered number
                            444178 whose registered office is at Arthur Cox Building, Earlsfort
                            Terrace, Dublin 2, Ireland (the
                            “Buyer”);

                        

            

            
                	
                            
                            (4)

                        	
                            
                            JASON DRUMMOND of 17 Queens
                            Gate, Place Mews, London SW7 5BG; and

                        

            

            
                	
                            
                            (5)

                        	
                            
                            JUSTIN DRUMMOND of Half
                            House, 1A Moore Street, London SW3 2QN.

                        

            

            
            OPERATIVE PROVISIONS

             

            
                	
                            
                            1

                        	
                            
                            DEFINITIONS AND INTERPRETATION

                        

            

            
                	
                            
                            1.1

                        	
                            
                            In this Agreement:

                        

            

            
                	
                            
                             

                        	
                            
                            “Accounts
                            Date” means 1 January 2007.

                        

            

            
            “Additional
            Consideration” means the sum of £625,000 being
            the further consideration which may fall to be payable to Media Corp in accordance with
            Clause 5.

            
            “Agreed
            Form” means a form agreed between the parties, a copy
            of which has been initialled for the purpose of identification by or on behalf of the
            parties.

            
            “Associate
            ” means:

            
                	
                            
                             

                        	
                            
                            (a)

                        	
                            
                            (in relation to an individual):

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            a relative that is that individual’s issue,
                            step-child, spouse, civil partner, brother, sister or parent;
                            and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            a company which is, or may be, controlled (within the
                            meaning given in section 840 Income and Corporation Taxes Act
                            1998) by that individual or a relative (as defined in (i) above) of
                            that individual, or by two or more of them; and

                        

            

            
                	
                            
                             

                        	
                            
                            (b)

                        	
                            
                            (in relation to a company) a Subsidiary Undertaking or
                            Parent Undertaking of that company, and another Subsidiary Undertaking
                            of any Parent Undertaking of the company.

                        

            

            
            “Assets”
            means the assets to be purchased by the Buyer from the Sellers and described in
            Clause 2.2 but excluding the Excluded Assets.

            
            “Assumed
            Liabilities” as defined in
            Clause 13.2.

            
            1

            
            
            

             

            
            “Average Monthly
            Revenue” means the average monthly revenue of the
            Business (which shall include, for the avoidance of doubt, the revenues achieved from
            the Domain Names and the Business Contract) determined in accordance with Schedule
            6 (Determination of the Average Monthly
            Revenue) paragraph 1(c).

            
            “Business”
            means the business described in Schedule 1 (The
            Business) carried on by the Sellers.

            
            “Business
            Contract” means the contracts of the Sellers or any of
            their Associates at the Transfer Date in relation to the Business as listed in Schedule
            2 (Business
            Contract).

            
            “Business
            Day” means a day (other than a Saturday or Sunday) on
            which the clearing banks in the City of London are open for business.

            
            “Business Intellectual Property
            Rights” means the Intellectual Property Rights used in
            or in connection with the Business.

            
            “Business
            Records” means all books and records including, without
            limitation all documents and other material (including all forms of computer or machine
            readable material) containing information, know-how, techniques, formulae, designs,
            specifications, drawings, data, manuals and instructions, customer and supplier lists,
            credit information, catalogues, price lists, sales, marketing and promotional
            information, mailing lists, business plans and forecasts and stock records relating to
            the Business but excluding the Retained Business Records.

            
            “Buyer’s
            Accountants” means BDO Stoy Hayward LLP, Prospect
            Place, 85 Great North Road, Hatfield, Hertfordshire AL9 5BS.

            
            “Buyer’s
            Group” means the Buyer, and the Subsidiary Undertakings
            of its Parent Undertaking.

            
            “Buyer’s
            Solicitors” means Berwin Leighton Paisner LLP, Adelaide
            House, London Bridge, London EC4R 9HA.

            
            “CA1985”
            means Companies Act 1985.

            
            “Companies
            Acts” means the company law provisions of the CA1985,
            the Companies Consolidation (Consequential Provisions) Act 1985 and the Companies Act
            1989 in so far as the same are in force from time to time.

            
            “Completion”
            means completion of the sale and purchase of the Assets in accordance with
            Clause 8.

            
            “Consideration”
            means as defined in Clause 4.1.

            
            “Customers”
            means the customers of the Business who make prepayments to the Sellers in respect of
            the Portals Business.

            
            “Customer
            Deposits” means the balance of the funds held by the
            Sellers at Completion in connection with the prepayments of advertising revenue for the
            Portals Business.

            
            “Database
            ” means the database of (i) depositors and non-depositors in
            respect of the Business; and (ii) registered users on the casino.co.uk
            portal.

            
            2

            
            
            

             

            
            “Debts”
            means all book debts owing at the Transfer Date to the Sellers in connection with the
            carrying on of the Business (whether or not invoiced and whether or not due and payable
            on such date).

            
            “Disclosed
            Accounts” means the accounts and other financial
            information appended to this Agreement and initialled by each of the Sellers and the
            Buyer.

            
            “Disclosure
            Letter” means the disclosure letter dated with the same
            date as this Agreement from the Sellers to the Buyer relating to the Warranties in the
            Agreed Form.

            
            “Domain
            Names” means the domain names casino.co.uk,
            findpoker.com, findpoker.eu, got2bet.com, got2bet.co.uk, casino.ie and
            skillgaming.co.uk.

            
            “Earn-Out
            Accounts” means the accounts of the Earn-Out Business
            prepared in accordance with the provisions of Schedule
            6 (Determination of the Average
            Monthly Revenue) paragraph 1(b) for
            the purpose of showing the Average Monthly Revenue for the Earn Out
            Business.

            
            “Earn-Out
            Business” means the Business as carried on during the
            Earn-Out Period.

            
            “Earn-Out
            Period” means the six month period starting on the date
            of Completion.

            
            “Employee”
            means any person employed by the Sellers, the Media Corp Group or any of its or their
            subcontractors or agents including without limitation any employee of Eyeconomy Limited
            or Xworks (UK) Limited and engaged or assigned to the Business or, as appropriate, in
            the provision of the Services.

            
            “Encumbrance”
            includes a mortgage, charge, pledge, lien, rent charge or other security interest of
            any description or nature and any interest or legal or equitable right or claim of any
            third party or any option or right of pre-emption or right of conversion or right of
            set off, any retention of title or hypothecation and any agreement to create any of the
            foregoing.

            
            “Excluded
            Assets” means those assets listed in
            Clause 3.1.

            
            “Excluded
            Liabilities” as defined in Clause 13.2.

            
            “Goodwill”
            means the goodwill of the Sellers associated with carrying on the Business, together
            with the exclusive right for the Buyer to represent itself as carrying on the Business
            in succession to the Sellers and together with the exclusive right to use the names
            “casino.co.uk”, “findpoker.com”,
            “findpoker.eu”,”got2bet.com”, “got2bet.co.uk”,
            “casino.ie” and “skillgaming.co.uk”.

            
            “HMRC”
            means Her Majesty’s Revenue & Customs (which shall include its predecessors,
            the Inland Revenue and HM Customs and Excise).

            
            “Intellectual Property
            Rights” means all copyright and rights in the nature of
            copyright, database rights, design rights, patents, trade marks (including all goodwill
            in them) and domain names, registrations and applications for registration of any of
            the above, moral rights, know-how, confidential information, and any other intellectual
            or industrial property rights, whether now known or in the future arising, and whether
            subsisting in the United Kingdom or any other part of the world.

            
            3

            
            
            

             

            
            “London Stock
            Exchange” means London Stock Exchange
            plc.

            
            “Marketing Affiliate
            Agreement” means the agreement in the Agreed Form
            between Media Corp and the Buyer in relation to the feeding of search data from
            www.gambling.com to websites operated by the Buyer.

            
            “Media Corp
            Group” means Media Corp and its
            Subsidiary Undertakings (including, for the avoidance of doubt, Search Focus and
            XWorks).

            
            “Month”
            means a calendar month.

            
            “Novation
            Agreement” means the novation agreement in the Agreed
            Form pursuant to which the Business Contract will be novated to the Buyer.

            
            “Parent
            Undertaking” and
            “Subsidiary Undertaking”
            as defined in section 258 CA1985.

            
            “Portals
            Business” has the meaning given in Schedule
            1.

            
            “Portal Management
            Software” the software system providing the
            functionality set out in Schedule 8.

            
            “Regulations”
            means the Transfer of Undertakings (Protection of Employment) Regulations
            2006.

            
            “Relief”
            includes any relief, allowance, credit, debit, charge, expense, exemption, set-off or
            deduction in computing, reducing or eliminating Tax or against profits, income or gains
            of any description or from any source, or credit against or repayment or right to
            repayment of Tax.

            
            “Retained Business
            Records” means all accounting and taxation records of
            or relating to the Business and such of the records of or relating to the Business as
            relate both to the Business and to any other activities of the Sellers insofar as it is
            not possible to separate the records relating to the Business from the records relating
            to such other activities.

            
            “Sellers”
            means Media Corp and XWorks, all of them, any of them and each of them, as the context
            may permit.

            
            “Sellers’
            Solicitors” means Bond Pearce LLP, Darwin House,
            Southernhay Gardens, Exeter, Devon, EX1 1LA.

            
            “Services
            ” meansthe services to be provided by the Sellers or any of their
            subcontractors or agents to the Buyer after Completion pursuant to Clauses 19.5 and
            19.6.

            
            “Settlement
            Date” means _____________, 2007.

            
            “Tax
            ”
            or“Taxation”
            includes all present and future forms of tax, duties, imposts, contributions,
            withholdings, deductions, charges, levies and sums payable on account of the foregoing
            whatsoever and whenever imposed, charged or demanded by a Tax Authority in the nature
            of tax (including without limitation any amount payable as a result of counteraction,
            adjustment or set off by a Tax Authority in relation to any liability to tax, interest
            on unpaid tax, repayment of tax or interest or repayment supplement in respect of a
            repayment of tax), and all amounts recoverable by a Tax Authority as if they were tax
            (or by any other person by virtue of any entitlement arising by operation of law) and
            shall be

            
            4

            
            
            

             

            
            deemed to include the cost of removing any charge over assets imposed by
            any Tax Authority and in each case all charges, interest, fines, penalties and
            surcharges arising from or incidental, or relating, to the same.

            
            “Tax
            Authority” means HMRC and any other governmental,
            state, federal or other fiscal, revenue, customs or excise authority, department,
            agency, body or office whether in the United Kingdom or elsewhere in the world having
            authority or jurisdiction for any Tax purpose.

            
            “Termination
            Date” means the date upon which the Sellers or any of
            their subcontractors or agents cease to provide all or any part of the
            Services.

            
            “Transfer
            Date” means close of business on ____________,
            2007.

            
            “UK Listing
            Authority” means the Financial Services Authority
            acting in its capacity as the competent authority for listing pursuant to Part VI of
            the Financial Services and Markets Act 2000.

            
            “VAT”
            means value added tax.

            
            “VATA”
            means Value Added Tax Act 1994.

            
            “VAT
            Regulations” means Value Added Tax Regulations 1995 (SI
            1995/2518).

            
            “Warranties”
            means the warranties of the Sellers contained in Schedule
            3 (Warranties ) of this
            Agreement.

            
            “White Label
            Business” as defined in Schedule 1.

            
                	
                            
                            1.2

                        	
                            
                            A reference to a statutory provision includes a
                            reference to:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            a statutory amendment, consolidation or re-enactment
                            (whether before or after the date of this Agreement) except to the
                            extent that the amendment, consolidation or re-enactment coming into
                            force after the date of this Agreement would increase or extend the
                            liability of one party to this Agreement to another party;

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            statutory instruments or subordinate legislation (as
                            defined in section 21(1), Interpretation Act 1978) or orders made under
                            the statutory provision (whether made before or after the date of this
                            Agreement); and

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            statutory provisions of which the statutory provision is
                            an amendment, consolidation or re-enactment,

                        

            

            
            but does not include a substituted provision.

            
                	
                            
                            1.3

                        	
                            
                            References to a statutory provision or to a legal or
                            accounting principle applying under English law shall, where the
                            context requires, be treated as including references to the nearest
                            corresponding provision or principle in the local jurisdiction and
                            references to a governmental, local governmental or administrative
                            authority or agency in the United Kingdom shall be treated as including
                            references to the nearest equivalent governmental, local governmental
                            or administrative authority or agency in that jurisdiction.

                        

            

            
                	
                            
                            1.4

                        	
                            
                            Reference to:

                        

            

            
            5

            
            
            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            a person includes a legal or natural person,
                            partnership, trust, company, government or local authority department
                            or other body (whether corporate or unincorporate);

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            a statutory or regulatory body shall include its
                            successors and any substituted body;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            an individual includes, where appropriate, his personal
                            representatives;

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            the singular includes the plural and vice versa;
                            and

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            one gender includes all genders.

                        

            

            
                	
                            
                            1.5

                        	
                            
                            Unless otherwise stated, a reference to a Clause,
                            Sub-clause or Schedule is a reference to a Clause or Sub-clause of, or
                            Schedule to, this Agreement and a reference to this Agreement includes
                            its Schedules.

                        

            

            
                	
                            
                            1.6

                        	
                            
                            Clause headings in this Agreement and in the Schedules
                            are for ease of reference only and do not affect its
                            construction.

                        

            

            
                	
                            
                            1.7

                        	
                            
                            In construing this Agreement the so-called
                            ejusdem generis rule does
                            not apply and accordingly the interpretation of general words shall not
                            be restricted by words indicating a particular class or particular
                            examples.

                        

            

            
                	
                            
                            1.8

                        	
                            
                            Unless expressly provided otherwise, the obligations
                            entered into in this Agreement by the Sellers are entered into jointly
                            and severally.

                        

            

            
                	
                            
                            1.9

                        	
                            
                            The Buyer may wholly or partly release or compromise, or
                            grant time or other indulgence in respect of, the liability of any of
                            the Sellers without affecting its rights against any other of the
                            Sellers or any other person.

                        

            

             

            
                	
                            
                            2

                        	
                            
                            SALE OF BUSINESS AND ASSETS

                        

            

            
                	
                            
                            2.1

                        	
                            
                            The Sellers agree to sell with full title guarantee free
                            from any Encumbrances and the Buyer agrees to purchase as at the
                            Transfer Date the Business comprising the Assets with all attached or
                            accrued rights as at the Transfer Date. Each of the Sellers and the
                            Buyer believe that the transfer of the Business constitutes a supply
                            for VAT purposes within Schedule 5 VATA.

                        

            

            
                	
                            
                            2.2

                        	
                            
                            The Assets shall comprise all of the assets used in the
                            Business (save for those assets fairly disclosed in the Disclosure
                            Letter against Warranty 6(d)) and shall include the following assets
                            (except insofar as they are included in the Excluded
                            Assets):

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            all rights, title and interest in, and to, (i) the trade
                            names and brands “casino.co.uk”,
                            “findpoker.com”, “findpoker.eu”,
                            “got2bet.com”, “got2bet.co.uk”,
                            “casino.ie” and “skillgaming.co.uk” (ii) the
                            Domain Names,

                        

            

            
                	
                             

                        	
                            and all
                            Intellectual Property Rights related thereto;

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            all rights, title and interest in all software
                            associated with the Domain Names (which shall include the Portals
                            Management Software) and all Intellectual Property Rights subsisting in
                            relation thereto;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            the Business Records and all Intellectual Property
                            Rights subsisting therein;

                        

            

            
            6

            
            

            
                

            

            
             

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            all rights, title and interest in and to the
                            Database;

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            all right, title and interest of the Sellers in and to
                            the Business Contract and the benefit of all contracts (written or
                            oral) with customers associated with the purchase of advertising space
                            relating to the Portals Business; and

                        

            

            
                	
                             

                        	
                            
                            (f)

                        	
                            
                            the Goodwill.

                        

            

            
                	
                            
                            2.3

                        	
                            
                            Risk in and title to the Assets shall pass to the Buyer
                            on Completion in accordance with Clause 8.2 save as otherwise
                            provided in this Agreement. As regards any of the Assets title to which
                            is capable of passing by delivery, title to such Assets shall pass by
                            delivery in accordance with Clause 8.2.

                        

            

            
                	
                            
                            2.4

                        	
                            
                            If any materials including promotional material bearing
                            any name or mark of the Sellers or any other person are sold to the
                            Buyer under this Agreement the Buyer is authorised by the Sellers to
                            use that material until such material is exhausted.

                        

            

            
                 
            

            
                	
                            
                            3

                        	
                            
                            EXCLUDED ASSETS

                        

            

            
                	
                            
                            3.1

                        	
                            
                            There shall be expressly excluded and excepted from the
                            sale and purchase of the Business and nothing in this Agreement shall
                            operate to transfer:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            any cash in hand or at bank (whether on current or on
                            deposit account) or bills receivable relating to the Business,
                            including uncleared cheques held at the Transfer Date but excluding the
                            Customer Deposits;

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            the Debts;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            the agreement between Gaming Corporation NV and Virtue
                            Fusion relating to the Betsure White Label;

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            the agreement dated 11 February 2005 between Media
                            Corporation Plc (formerly Gaming Corporation Plc) and Game Account
                            Global Limited relating to the white-labelled provision of skill-games;
                            and

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            any amount recoverable in respect of Tax which relates
                            to the carrying on of the Business prior to the Transfer
                            Date.

                        

            

            
                 
            

            
                	
                            
                            4

                        	
                            
                            CONSIDERATION

                        

            

            
                	
                            
                            4.1

                        	
                            
                            The consideration payable for the Assets shall be the
                            sum of the amounts set out in this Clause 4.1, which shall be paid or
                            satisfied as follows:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            as to the sum of £2,980,000, by the payment in
                            cash of such amount at Completion (the
                            “Initial
                            Consideration”) of which £1 of
                            the Initial Consideration is being allocated to the Assets specified in
                            Clause 2.2(e); and

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            the Additional Consideration (if any) subject to the
                            terms of, and in accordance with, Clause 5.

                        

            

            
                	
                            
                            4.2

                        	
                            
                            The Initial Consideration shall be
                            apportioned:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            as to £234,718, to Media Corp; and

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            as to the balance, to XWorks.

                        

            

            
            7

            
            

            
                

            

            
                	
                            
                            4.3

                        	
                            
                            Notwithstanding that the Initial Consideration is
                            apportioned between the Sellers as provided by Clause 4.2, it is
                            nevertheless agreed between the Sellers and the Buyer that the
                            Consideration is a single price and that, in the event of there being
                            any breach of the Warranties, the compensation payable to the Buyer
                            shall not be limited on account of the value attributed to any
                            individual Seller.

                        

            

            
                 
            

            
                	
                            
                            5

                        	
                            
                            ADDITIONAL CONSIDERATION

                        

            

            
                	
                            
                            5.1

                        	
                            
                            The Buyer shall pay the Additional Consideration in cash
                            to Media Corp by way of additional consideration for the Assets subject
                            to and in accordance with the remaining provisions of this Clause
                            5.

                        

            

            
                	
                            
                            5.2

                        	
                            
                            The Additional Consideration shall become payable in the
                            event that the Average Monthly Revenue during the Earn-Out Period
                            equals or exceeds £60,000. For the avoidance of doubt, the
                            aggregate Average Monthly Revenue achieved during the course of the
                            Earn-Out Period must equal or exceed £360,000 for the Additional
                            Consideration to become payable.

                        

            

            
                	
                            
                            5.3

                        	
                            
                            The Additional Consideration shall be paid within 15
                            Business Days after the Average Monthly Revenue for the Earn-Out Period
                            has been agreed or determined.

                        

            

            
                	
                            
                            5.4

                        	
                            
                            The provisions of Schedule
                            6 (Determination of the
                            Average Monthly
                            Revenue  )
                            apply to determine the Additional Consideration.

                        

            

            
                	
                            
                            6

                        	
                            
                            [INTENTIONALLY LEFT BLANK]

                        

            

            
                 
            

            
                	
                            
                            7

                        	
                            
                            CONDUCT OF EARN-OUT BUSINESS DURING THE EARN-OUT
                            PERIOD

                        

            

            
            The provisions of Schedule 5 (Conduct of
            Earn-Out Business during the Earn-Out Period ) apply
            during the Earn-Out Period. 

            
                	
                            
                            8

                        	
                            
                            COMPLETION

                        

            

            
                	
                            
                            8.1

                        	
                            
                            Completion shall take place at the offices of the
                            Buyer’s Solicitors immediately following the signing of this
                            Agreement.

                        

            

            
                	
                            
                            8.2

                        	
                            
                            At Completion, the Sellers shall deliver or procure the
                            delivery to the Buyer or the Buyer’s Solicitors of the
                            following:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            duly executed Novation Agreement (executed by the
                            original parties to the underlying agreements) and such original
                            documents as are in the possession or under the control of the
                            Sellers;

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            the Disclosure Letter executed by the
                            Sellers;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            assignments of the Domain Names in the Agreed
                            Form;

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            a list of the Customer Deposits as at one day prior to
                            Completion;

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            a copy of the Database as at one day prior to
                            Completion;

                        

            

            
                	
                             

                        	
                            
                            (f)

                        	
                            
                            a copy of the software referred to in Clause 2.2(b)
                            (which shall include the Portals Management Software) in the agreed
                            form of recordable media;

                        

            

            
                	
                             

                        	
                            
                            (g)

                        	
                            
                            the Marketing Affiliate Agreement executed by Media
                            Corp;

                        

            

            
                	
                             

                        	
                            
                            (h)

                        	
                            
                            the Business Records;

                        

            

            
            8

            
            

            
                

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            evidence satisfactory to the Buyer, acting reasonably,
                            that, in respect of the Business, the Sellers have terminated all
                            arrangements with advertisers and agreements with any third party
                            engaged in any online gambling business that accepts wagers from,
                            and/or allowing access to, residents of the United States of America;
                            and

                        

            

            
            all other property agreed to be sold pursuant to this Agreement which is
            capable of transfer by delivery and insofar as the Buyer agrees that it is not
            practical for such assets to be physically delivered at Completion they shall be made
            available for collection by or on behalf of the Buyer at the location at which they are
            stored, used or situated and such assets shall be deemed to be delivered and the
            Sellers shall do such other things as the Buyer may reasonably require to enable the
            Buyer to take possession or control of them.

            
                	
                            
                            8.3

                        	
                            
                            The Sellers shall execute and deliver to the Buyer (or
                            shall procure the execution and delivery to the Buyer of) such deeds
                            and other documents as shall be necessary or appropriate to complete
                            the sale and purchase of the Assets and to enable the Buyer to acquire
                            a good title free from Encumbrances.

                        

            

            
                	
                            
                            8.4

                        	
                            
                            Upon completion of the matters referred to in Clause
                            8.2, the Buyer shall pay by means of electronic funds transfer to the
                            account of the Seller’s Solicitors with Lloyds Bank Plc, 8 Royal
                            Parade, Plymouth, PL1 1HB Sort Code 30-96-68 and account number
                            01364135 the sum of £3,010,000 (being the Consideration due on
                            Completion together with the sums due under Clause 19.7) but less the
                            amount attributable to the Customer Deposits notified to the Buyer in
                            accordance with Clause 8.2(d).

                        

            

            
                	
                            
                            8.5

                        	
                            
                            The Buyer shall not be obliged to complete the purchase
                            of any of the Assets (including the Goodwill) unless the purchase of
                            all the Assets is completed in accordance with this
                            Agreement.

                        

            

            
                	
                            
                            8.6

                        	
                            
                            The Buyer may waive the requirements contained in Clause
                            8.2 either unconditionally or subject to the condition that the Sellers
                            give, on Completion, a written indemnity or undertaking to the Buyer in
                            such form as the Buyer requires.

                        

            

            
                	
                            
                            8.7

                        	
                            
                            If Completion takes place but certain Assets are not
                            delivered or transferred to the Buyer due to the absence of any
                            required licence or consent from a third party such Assets shall be
                            held by the Sellers on trust for the Buyer absolutely as from
                            Completion and shall be delivered or transferred to the Buyer as soon
                            as the requisite licence or consent is obtained. The Sellers will use
                            their reasonable endeavours to ensure that any such licence or consent
                            is granted as soon as possible after Completion on terms reasonably
                            acceptable to the Buyer. Pending the delivery or transfer of any such
                            Assets to the Buyer the Sellers shall take all such steps to preserve
                            the same and to preserve and enforce their rights relating to any of
                            such Assets as the Buyer shall reasonably require and the Sellers shall
                            promptly deliver to the Buyer any communication received by them
                            concerning any of such Assets.

                        

            

            
                 
            

            
                	
                            
                            9

                        	
                            
                            BUSINESS CONTRACT

                        

            

            
                	
                            
                            9.1

                        	
                            
                            Subject to Clause 9.2 and to the provisions of the
                            Novation Agreement, the Buyer will perform and discharge all
                            outstanding obligations and liabilities of the Sellers under the
                            Business Contract arising on or after the Transfer Date and will
                            indemnify the Sellers on an after tax basis against all actions,
                            proceedings, losses, costs, expenses, damages, claims and demands and
                            all other liabilities whatsoever (including without limitation, all
                            losses, liabilities and reasonable and proper costs incurred as a
                            result of defending or settling any claim alleging such
                            liability)

                        

            

            
            9

            
            

            
                

            

            
                	
                            
                             

                        	
                            
                            suffered or incurred by the Sellers on or after the
                            Transfer Date by reason of or arising out of the Business
                            Contract.

                        

            

            
                	
                            
                            9.2

                        	
                            
                            The Buyer’s obligations under Clause 9.1
                            (including those to indemnify the Sellers) do not apply to any claims
                            or liabilities that arise from the Sellers’ failure to comply
                            with or fulfil its obligations under the Business Contract before the
                            Transfer Date or which are otherwise referable to the period before the
                            Transfer Date or which are subject to the indemnity given by the
                            Sellers in favour of the Buyer in Clause 16.

                        

            

            
                	
                            
                            9.3

                        	
                            
                            Subject to Clause 9.4 with effect from the Transfer
                            Date the Buyer shall become entitled to all of the rights and benefits
                            of the Sellers under the Business Contract.

                        

            

            
                	
                            
                            9.4

                        	
                            
                            Insofar as the benefit of the Business Contract cannot
                            be assigned to the Buyer except with the consent of one or more third
                            parties or by novation (including pursuant to the terms of a Novation
                            Agreement) the following provisions shall apply:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            the Sellers shall be responsible (at their own expense)
                            for obtaining and shall use its reasonable endeavours with the
                            co-operation of the Buyer to obtain such consent or novation as
                            aforesaid and shall notify the Buyer as soon as any such consent or
                            novation is obtained or refused or is the subject of any other
                            communication from the relevant third party;

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            unless and until such Business Contract shall be
                            assigned or novated the Sellers will hold the benefit on trust for the
                            Buyer and will give all reasonable assistance after Completion to the
                            Buyer to enable the Buyer to enforce the rights of the Sellers under
                            such Business Contract and the Buyer shall (subject to
                            Clause 9.4(e)), perform the obligations of the Sellers under such
                            Business Contract;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            as soon as practicable after all necessary third party
                            consents have been obtained, the Sellers shall execute an assignment
                            or, where requested by the Buyer, a novation agreement, in terms
                            reasonably required by the Buyer, in respect of such Business Contract
                            and shall deliver the same to the Buyer;

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            if any requisite consent is refused or not obtained
                            within 30 days (or such longer period as the Buyer may specify) after
                            Completion then (as the Buyer may elect) either:

                        

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            the Sellers shall continue to hold the benefit of the
                            Business Contract concerned in trust for the Buyer absolutely and pay
                            over any benefit derived from such Business Contract promptly to the
                            Buyer with effect from Completion until the benefit of such Business
                            Contract is assigned to the Buyer or is the subject of a novation in
                            favour of the Buyer but subject to the Buyer performing (subject to
                            Clause 9.4(e), on behalf of the Sellers all the obligations of the
                            Sellers under such Business Contract; or

                        

            

            
                	
                             

                        	
                            
                            (ii)

                        	
                            
                            the Sellers will use their reasonable endeavours to
                            procure the cancellation of the relevant Business Contract so that the
                            Buyer is able to enter into new arrangements with the relevant party or
                            parties;

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            nothing in this Agreement shall:

                        

            

            
            10

            
            

            
                

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            require the Buyer to perform any obligations or
                            discharge any liabilities created by or arising under the Business
                            Contract insofar as such obligations or liabilities fall due to be
                            performed before Completion;

                        

            

            
                	
                             

                        	
                            
                            (ii)

                        	
                            
                            make the Buyer liable for any act, neglect, default or
                            omission in respect of the Business Contract committed by the Sellers
                            or occurring before Completion;

                        

            

            
                	
                             

                        	
                            
                            (iii)

                        	
                            
                            make the Buyer liable for any claim, expense, loss or
                            damage arising from any failure to obtain any third party consent to
                            this Agreement or from any breach of the Business Contract caused by
                            the execution, completion or performance of this Agreement;
                            or

                        

            

            
                	
                             

                        	
                            
                            (iv)

                        	
                            
                            impose any obligation on the Buyer for or in respect of
                            any product produced or sold by the Sellers or any service performed by
                            the Sellers before Completion.

                        

            

            
                	
                            
                            9.5

                        	
                            
                            Following Completion the Buyer may serve notice on the
                            Sellers at any time after any relevant third party consent or agreement
                            to novate is obtained requiring the Sellers to execute an assignment or
                            a novation (in terms reasonably required by the Buyer) of the Business
                            Contract to or in favour of the Buyer, and the Sellers will arrange for
                            the execution of such assignment or novation and its delivery to the
                            Buyer not later than five Business Days after the receipt either of
                            such notice or of the engrossment of such assignment or novation by the
                            Sellers (or the Seller’s Solicitors) whichever is the
                            later.

                        

            

            
                	
                            
                            9.6

                        	
                            
                            The Sellers shall indemnify the Buyer on an after tax
                            basis against all actions, proceedings, losses, costs, expenses,
                            damages, claims and demands and all other liabilities whatsoever
                            (including, without limitation, all losses, liabilities and reasonable
                            and proper costs incurred as a result of defending or settling any
                            claim alleging any such liability) suffered or incurred by the Buyer by
                            reason of or arising out of any of the matters listed in
                            Clause 9.4(d).

                        

            

            
                	
                            
                            9.7

                        	
                            
                            With effect from Completion, the Sellers undertake to
                            the Buyer to remit to it, on a monthly basis, an amount equal to the
                            revenue received by the Sellers and attributable to the agreement
                            between Gaming Corporation N.V. and Virtue Fusion NC relating to the
                            “Betsure” white label (the
                            “Virtue Fusion
                            Revenue”). The Virtue Fusion Revenue
                            shall, in accordance with the provisions of Clauses 9.8, 9.11 and
                            Schedule 6, contribute towards the Earn-Out Business for the purposes
                            of calculating the Average Monthly Revenue for so long as the Virtue
                            Fusion Revenue is remitted to the Buyer.

                        

            

            
                	
                            
                            9.8

                        	
                            
                            Following Completion, the Buyer may serve notice (the
                            “Virtue Fusion
                            Notice”) on the Sellers at any time
                            (provided that at the time of the Buyer serving the Virtue Fusion
                            Notice on the Sellers, the Buyer shall have put in place an
                            Intercasino, Parbet or PlayboyGaming flash casino link on
                            www.casino.co.uk), following which the Sellers shall, on the third
                            Business Day following receipt of such notice, cease to remit the
                            Virtue Fusion Revenue to the Buyer (the
                            “Virtue Fusion Termination
                            Date”). In the event of the service of
                            the Virtue Fusion Notice, the Virtue Fusion Revenue received over the
                            number of days since the last amount was remitted to the Buyer shall
                            become payable to the Buyer. If during the Earn-Out Period the Buyer
                            withdraws the Intercasino, Parbet or PlayboyGaming flash casino link on
                            www.casino.co.uk and does not replace such a link with any other
                            similar link, the Sellers will remit the Virtue Fusion Revenue
                            for

                        

            

            
            11

            
            

            
                

            

            
                	
                            
                             

                        	
                            
                            the period of the Earn-Out Period then outstanding on
                            the bases set out in Clause 9.7 above.

                        

            

            
                	
                            
                            9.9

                        	
                            
                            With effect from Completion, the Sellers undertake to
                            the Buyer to remit to it, on a monthly basis, an amount equal to the
                            revenue received by the Sellers and attributable to the agreement dated
                            11 February 2005 between Media Corporation Plc (formerly Gaming
                            Corporation Plc) and Game Account Global Limited relating to the
                            white-labelled provision of skill-games (the
                            “Game Account
                            Revenue”). The Game Account Revenue
                            shall, in accordance with the provisions of Clauses 9.10 and 9.11 and
                            Schedule 6, contribute towards the Earn-Out Business for the purposes
                            of calculating the Average Monthly Revenue for so long as the Game
                            Account Revenue is remitted to the Buyer.

                        

            

            
                	
                            
                            9.10

                        	
                            
                            Following Completion the Buyer may serve notice (the
                            “Game Account
                            Notice”) on the Sellers at any time
                            (provided that at the time of the Buyer serving the Game Account
                            Notice, the Buyer (or any member of the Buyer’s Group) shall have
                            entered into an agreement with Game Account Global Limited (or such
                            other member of its group) relating to the white-labelled provision of
                            skill games (the “New Game Account
                            Agreement”), following which the
                            Sellers shall, on the third Business Day following receipt of such
                            notice, cease to remit the Game Account Revenue to the Buyer (the
                            “Game Account Termination
                            Date”). In the event of the service of
                            Game Account Notice, the Game Account Revenue received over the number
                            of days since the last amount was remitted to the Buyer shall become
                            payable to the Buyer.

                        

            

            
                	
                            
                            9.11

                        	
                            
                            The Buyer shall be entitled to appoint an auditor or
                            authorised representative at any time to inspect and/or audit the
                            Sellers’ books of account and all supporting and related
                            documentation relating to Virtue Fusion Revenue and/or the Game Account
                            Revenue, provided such inspection and/or audit takes place with
                            reasonable notice during normal business hours. The Sellers shall
                            promptly give all information, assistance and access to such books of
                            account and all supporting and related documentation which the
                            Buyer’s auditor or authorised representative may reasonably
                            require.

                        

            

            
                 
            

            
                	
                            
                            10

                        	
                            
                            CUSTOMER DEPOSITS

                        

            

            
                	
                            
                            10.1

                        	
                            
                            For the avoidance of doubt the parties acknowledge that
                            the Customer Deposits are not deemed to be transferred for part of the
                            Consideration and are an asset owned, collectively, by the Customers of
                            the Sellers and held on trust for them by the Sellers prior to
                            Completion and by the Buyer after Completion.

                        

            

            
                	
                            
                            10.2

                        	
                            
                            The Sellers will inform the Buyer at Completion of the
                            actual Customer Deposits they then hold. The Buyer will honour the
                            actual amount of Customer Deposits held by the Sellers at Completion by
                            providing a corresponding amount to the customers as advertising spend.
                            For the avoidance of doubt the actual funds held by the Sellers after
                            Completion that correspond to the Customer Deposits honoured after
                            Completion by the Sellers shall be considered the property of the
                            Sellers and no longer held on trust on behalf of such customers. The
                            Parties agree that the Consideration shall be reduced by an amount
                            equal to the actual Customer Deposits.

                        

            

            
                	
                            
                            10.3

                        	
                            
                            The Sellers undertake to the Buyer (for themselves and
                            as trustee for the customers of the Sellers on whose behalf the
                            Customer Deposits are held) to indemnify the Buyer on an after tax
                            basis and keep it fully indemnified from and against all costs, claims,
                            actions, proceedings, losses, damages and expenses suffered or incurred
                            by the Buyer (including without limitation, all losses, liabilities and
                            reasonable and proper costs incurred as a result of defending or
                            settling any

                        

            

            
            12

            
            

            
                

            

            
                	
                        	
                            claim alleging such liability) in any
                            jurisdiction or which may be made or taken against the Buyer, arising
                            out of, or in connection with, the amount notified to the Buyer
                            pursuant to Clause 10.2 not representing the Customer Deposits held by
                            the Sellers at Completion.

                        
	
                            
                            10.4

                        	
                            
                            The Buyer undertakes to the Sellers to indemnify the
                            Sellers on an after tax basis and keep them fully indemnified from and
                            against all costs, claims, actions, proceedings, losses, damages and
                            expenses suffered or incurred by the Sellers in any jurisdiction or
                            which may be made or taken against the Sellers (including without
                            limitation, all losses, liabilities and reasonable and proper costs
                            incurred as a result of defending or settling any claim alleging such
                            liability), arising out of, or in connection with, the Buyer not
                            providing Customers with an amount corresponding to their respective
                            Customer Deposits held by the Sellers before Completion.

                        

            

            
                	
                            
                            10.5

                        	
                            
                            The Buyer shall be entitled to appoint an auditor or
                            authorised representative at any time to inspect and/or audit the
                            Sellers’ books of account and all supporting and related
                            documentation relating to Customer Deposits, provided such inspection
                            and/or audit takes place with reasonable notice during normal business
                            hours. The Sellers shall promptly give all information, assistance and
                            access to such books of account and all supporting and related
                            documentation which the Buyer’s auditor or authorised
                            representative may reasonably require.

                        

            

            
                	
                            
                            11

                        	
                            
                            THE REGULATIONS

                        

            

            
            The parties agree that it is not intended that the contracts of
            employment of any Employee will have effect on the Transfer Date or, as appropriate, on
            the Termination Date, as if originally made between the Buyer and the Employee pursuant
            to the Regulations.

            
                 
            

            
                	
                            
                            12

                        	
                            
                            INDEMNITY

                        

            

            
                	
                            
                            12.1

                        	
                            
                            In the event the Regulations do apply, or are claimed to
                            apply, to transfer any contracts, rights, powers, liabilities or the
                            employment of any Employee to the Buyer on the Transfer Date or on the
                            Termination Date, the Sellers shall indemnify the Buyer on an after tax
                            basis against all actions, proceedings, losses, costs, expenses,
                            damages, claims and demands and all other liabilities whatsoever
                            (including, without limitation, all losses, liabilities and reasonable
                            and proper costs incurred as a result of defending or settling any
                            claim alleging any such liability) suffered or incurred by the Buyer
                            which relate to or arise out of :

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            the employment or termination of employment of any
                            Employee; or

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            the transfer to the Buyer of any liability in connection
                            with the termination of employment of any Employee up to and including
                            the Transfer Date or, as appropriate, the Termination Date;
                            or

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            the transfer to the Buyer of any liability in connection
                            with any act or omission in respect of any Employee up to and including
                            the Transfer Date or, as appropriate, the Termination Date;
                            or

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            a failure by the Sellers, any member of the Media Corp
                            Group or any of their subcontractors or agents to comply with its or
                            their obligations under Regulation 13 of the Regulations, including but
                            not limited to any liability incurred by the Buyer pursuant to
                            Regulation 15(9) of the Regulations.

                        

            

            
            13

            
            

            
                

            

            
                	
                            
                            13

                        	
                            
                            LIABILITIES

                        

            

            
                	
                            
                            13.1

                        	
                            
                            Except as otherwise provided, the Buyer undertakes to
                            the Sellers that it will duly and properly perform, assume and pay and
                            discharge when due all Assumed Liabilities.

                        

            

            
                	
                            
                            13.2

                        	
                            
                            In this Agreement,
                            “Assumed
                            Liabilities” means:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            subject to Clause 9.4(e) all obligations and
                            liabilities of the Sellers under the Business Contract arising after
                            Completion;

                        

            

            
            but shall in any event exclude the following liabilities
            (“Excluded
            Liabilities”):

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            any liabilities of the Sellers incurred otherwise than
                            in relation to the Assets;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            any liabilities incurred in relation to any of the
                            Excluded Assets;

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            any liabilities or obligations referred to in
                            Clause 9.4(e) and any other liabilities or obligations expressly
                            stated in this Agreement to be borne by the Sellers or in
                            respect of which the Sellers have agreed to indemnify
                            the Buyer whether under this Agreement or otherwise;

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            tax of any kind in respect of any income, profits or
                            gains of the Sellers or for which the Sellers are liable;
                            and

                        

            

            
                	
                             

                        	
                            
                            (f)

                        	
                            
                            without prejudice to the generality of the foregoing,
                            any other liabilities or obligations incurred in connection with the
                            Business and the Business Contract arising before or referable to the
                            period prior to Completion.

                        

            

            
                	
                            
                            13.3

                        	
                            
                            Nothing in this Agreement shall be construed as an
                            acceptance or assumption by the Buyer of any liability or obligation
                            which is not expressly assumed by the Buyer under this
                            Agreement.

                        

            

            
                	
                            
                            13.4

                        	
                            
                            The Sellers undertake to the Buyer to indemnify the
                            Buyer on an after tax basis and keep it fully indemnified from and
                            against the Excluded Liabilities and against all costs, claims,
                            actions, proceedings, losses, damages and expenses in respect thereof
                            (including without limitation, all losses, liabilities and reasonable
                            and proper costs incurred as a result of defending or settling any
                            claim alleging such liability).

                        

            

            
                	
                            
                            13.5

                        	
                            
                            The Buyer shall indemnify the Sellers on an after tax
                            basis against all actions, proceedings, losses, costs, damages, claims
                            and demands and all other liabilities whatsoever (including without
                            limitation, all losses, liabilities and reasonable and proper costs
                            incurred as a result of defending or settling any claim alleging any
                            such liabilities) in respect of the Assumed Liabilities.

                        

            

            
                 
            

            
                	
                            
                            14

                        	
                            
                            APPORTIONMENTS

                        

            

            
                	
                            
                            14.1

                        	
                            
                            All periodical payments, outgoings, and liabilities
                            (excluding the Assumed Liabilities and the Excluded Liabilities) in
                            relation to the Assets including but not limited to royalties
                            (“Outgoings”)
                            and all periodical receivables in relation to the Assets
                            (“Receivables”)
                            shall be apportioned on a time basis so that such part of the Outgoings
                            and Receivables as is attributable to the period prior to the Transfer
                            Date shall be borne by or belong to the Sellers and such part of the
                            Outgoings and Receivables as is attributable to the period commencing
                            after the Transfer Date shall be borne by or belong to the
                            Buyer.

                        

            

            
            14

            
            

            
                

            

            
                	
                            
                            14.2

                        	
                            
                            Any amount due in respect of such apportionments shall
                            be settled by a payment in cash on the Settlement Date. No
                            apportionment shall be made in respect of VAT. Media Corp shall prepare
                            a statement of apportionments and shall deliver it to the Buyer within
                            five Business Days after the Transfer Date. If the Buyer disagrees with
                            such statement it shall notify Media Corp within five Business Days of
                            the receipt of such statement. Any disagreement regarding the statement
                            of apportionments shall be resolved in accordance with
                            Clause 14.8.

                        

            

            
                	
                            
                            14.3

                        	
                            
                            If and to the extent that the Sellers receive any
                            deposit or advance payment from a customer under a Business Contract
                            that is referable to the supply of goods or services by the Business
                            after the Transfer Date which does not fall to be dealt with under
                            Clause 14.1, the Sellers shall as from Completion hold or receive
                            the same (excluding the proportion thereof charged as VAT) as trustee
                            for the Buyer, shall record such payment separately in its books and
                            shall account to the Buyer for the same on the Settlement
                            Date.

                        

            

            
                	
                            
                            14.4

                        	
                            
                            If and to the extent that the Sellers have prior to the
                            Transfer Date made any prepayment to a supplier in respect of goods or
                            services to be supplied to the Business after the Transfer Date under a
                            Business Contract which does not fall to be dealt with under
                            Clause 14.1, the Buyer shall reimburse to the Sellers the amount
                            thereof (excluding the proportion thereof charged as VAT) on the
                            Settlement Date.

                        

            

            
                	
                            
                            14.5

                        	
                            
                            Goods and services supplied by the Sellers before the
                            Transfer Date shall be invoiced by the Sellers and VAT payable shall be
                            accounted for by the Sellers.

                        

            

            
                	
                            
                            14.6

                        	
                            
                            Goods and services supplied by the Buyer after the
                            Transfer Date shall be invoiced by the Buyer and VAT payable shall be
                            accounted for by the Buyer.

                        

            

            
                	
                            
                            14.7

                        	
                            
                            The net amount of all amounts due from the Buyer to the
                            Sellers or from the Sellers to the Buyer (as the case may be) under
                            this Clause shall be paid by the Buyer to Media Corp or by Media Corp
                            to the Buyer (as the case may be) on the Settlement Date.

                        

            

            
                	
                            
                            14.8

                        	
                            
                            Media Corp and the Buyer shall together endeavour to
                            agree the payments required by this Clause. If Media Corp and the Buyer
                            are unable to reach agreement within ten Business Days after
                            Completion, the matter shall be referred to an independent chartered
                            accountant appointed who shall be instructed to determine the relevant
                            amounts, providing Media Corp and the Buyer for this purpose with all
                            relevant working papers or copies. The said accountant shall act as
                            expert and not as arbitrator and in the absence of manifest error, his
                            decision shall be final. His costs shall be borne equally by the
                            Sellers and the Buyer.

                        

            

            
                 
            

            
                	
                            
                            15

                        	
                            
                            WARRANTIES AND INDEMNITIES

                        

            

            
                	
                            
                            15.1

                        	
                            
                            Subject to the provisions of Clause 15.3 and
                            Schedule 4 (Seller protection provisions), the Sellers warrant to
                            the Buyer that the statements in Schedule
                            3 (Warranties)
                            are accurate.

                        

            

            
                	
                            
                            15.2

                        	
                            
                            The Sellers warrant to the Buyer that:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            entering into this Agreement and the completion of the
                            transaction contemplated therein will not cause the Sellers to breach
                            any contractual obligations to third parties;

                        

            

            
            15

            
            

            
                

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            they have full power and authority to sell the Assets to
                            the Buyer on the terms set out in this Agreement and without the
                            consent of a third party; and

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            the contents of Schedule 8 are accurate.

                        

            

            
                	
                            
                            15.3

                        	
                            
                            The Warranties are given subject to any matter fairly
                            disclosed in the Disclosure Letter. A matter shall be regarded as
                            having been fairly disclosed in the Disclosure Letter only to the
                            extent that accurate information about that matter is contained in the
                            Disclosure Letter in sufficient detail to enable the Buyer properly to
                            identify the nature and scope of that matter and to evaluate the
                            purpose of the disclosure.

                        

            

            
                	
                            
                            15.4

                        	
                            
                            Each of the Warranties is without prejudice to the other
                            Warranties and, except where expressly stated otherwise, no Clause
                            governs or limits the extent or application of the other
                            Clauses.

                        

            

            
                	
                            
                            15.5

                        	
                            
                            Where any statement refers to the knowledge, belief or
                            awareness of the Sellers, or any analogous expression, it shall be
                            deemed to include an additional statement that it has been made after
                            full and careful enquiry of Justin Drummond, Jason Drummond, Nilesh
                            Jagatia and Sara Vincent.

                        

            

            
                	
                            
                            16

                        	
                            
                            SELLER INDEMNITY

                        

            

            
                	
                            
                            16.1

                        	
                            
                            The Sellers undertake to the Buyer to indemnify the
                            Buyer on an after tax basis and keep it fully indemnified from and
                            against all costs, claims, actions, proceedings, losses, damages and
                            expenses suffered or incurred by the Buyer in any jurisdiction or which
                            may be made or taken against the Buyer (including without limitation,
                            all losses, liabilities and reasonable and proper costs incurred as a
                            result of defending or settling any claim alleging such liability) by
                            reference to the periods:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            before Completion; and

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            after Completion for the Earn Out Period or, if earlier,
                            up until the date on which a full transition of the Business to the
                            Buyer in accordance with Clause 19.6 has taken place,

                        

            

            
            in each case, arising out of, or in connection with, the Sellers not
            having terminated all arrangements with advertisers and agreements relating to the
            Business with any third party engaged in any online gambling business that accepts
            wagers from, and/or allows access to, residents of the United States of
            America.

            
                	
                            
                            16.2

                        	
                            
                            The Sellers shall not be liable to the Buyer under
                            Clause 16.1 where the liability or other matter or thing has
                            arisen or occurred as a result of an act, omission or
                            transaction done, made or carried out by the Sellers or any
                            of their respective directors, employees or agents on the decision
                            of or at the request of the Buyer or any of its respective
                            directors, employees or agents.

                        

            

            
                 
            

            
                	
                            
                            17

                        	
                            
                            BUYER WARRANTIES

                        

            

            
                	
                            
                            17.1

                        	
                            
                            The Buyer warrants to the Sellers as at the date of this
                            Agreement that it has full power to enter into and perform its
                            obligations pursuant to this Agreement and that this Agreement
                            constitutes a binding obligation on the Buyer without the authority of
                            a third party.

                        

            

            
            16

            
            

            
                

            

            
                	
                            
                            17.2

                        	
                            
                            The Buyer warrants to the Sellers that there are no
                            circumstances, facts or matters within the actual knowledge of the
                            Buyer as at the date of this Agreement which could entitle the Buyer to
                            make a claim against the Sellers pursuant to the terms of this
                            Agreement, and the Buyer further warrants to the Seller that the Buyer
                            is not actively formulating a claim under this Agreement including,
                            without limitation, a claim under the Warranties.

                        

            

            
                 
            

            
                	
                            
                            18

                        	
                            
                            ASSIGNMENT AND SUCCESSION

                        

            

            
                	
                            
                            18.1

                        	
                            
                            Save as contemplated in Clauses 18.2, 18.3 and 19.3
                            below, none of the parties to this Agreement may assign, novate,
                            sub-licence, transfer, sub-contract or otherwise dispose of any of its
                            rights or obligations under this agreement without the prior consent of
                            the other parties.

                        

            

            
                	
                            
                            18.2

                        	
                            
                            Only the Buyer may assign its rights and obligations
                            under this agreement to a party in the Buyer’s Group. If
                            subsequent to the assignment of this agreement such person ceases to be
                            a member of the Buyer’s Group, such member shall immediately
                            assign the agreement to any other member of the Buyer’s
                            Group.

                        

            

            
                	
                            
                            18.3

                        	
                            
                            If the Buyer assigns its rights and obligations in
                            accordance with Clause 18.1, the Buyer shall remain liable to the
                            Sellers in respect of all its obligations.

                        

            

            
                	
                            
                            18.4

                        	
                            
                            This Agreement binds each party’s successors and
                            permitted assigns and personal representatives (as the case may
                            be).

                        

            

            
                	
                            
                            18.5

                        	
                            
                            Except as expressly provided above, none of the rights
                            of the parties under this Agreement may be transferred.

                        

            

            
                 
            

            
                	
                            
                            19

                        	
                            
                            POST-COMPLETION PROVISIONS

                        

            

            
                	
                            
                            19.1

                        	
                            
                            To assure to the Buyer the full benefits of the business
                            and goodwill of the Business, the Sellers and each of Justin Drummond
                            and Jason Drummond severally undertake, as separate and independent
                            agreements, that they will not, (and the Sellers shall procure that
                            each other member of the Media Corp Group, Justin Drummond and Jason
                            Drummond shall not), in each case without the Buyer’s prior
                            written consent:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            disclose to another person, or himself or itself use for
                            any purpose, information concerning the business, accounts or finances
                            of the Business, or the transactions or affairs of the clients or
                            customers of the Business, of which he or it has knowledge (other than
                            any information which, at the time of disclosure, is in the public
                            domain (save where such information is in the public domain by reason
                            of a breach of this provision) or any information which he or it is
                            compelled by law or by rules of any regulatory authority or stock
                            exchange to disclose, provided that, where any such disclosure is
                            required he or it shall immediately notify the Buyer of this fact and
                            shall take into account the Buyer’s reasonable requirements as to
                            the timing, content and manner of making such disclosure);

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            for two years after Completion, in relation to an
                            internet casino, internet poker room, internet skill gaming, gaming
                            portal or gaming affiliate business, or a business which is in direct
                            competition with the Business, either on their own account or for
                            another person, for the purpose of obtaining business, orders or
                            custom, directly or indirectly solicit, interfere with or endeavour to
                            entice away from the Business or from the Buyer’s Group a person
                            who is, or has during the one year preceding Completion

                        

            

            
            17

            
            

            
                

            

            
                	
                        	
                        	
                        been, a client or customer of or supplier to the Sellers in
                        relation to the Business or, as appropriate, in the habit of dealing with
                        Justin Drummond or Jason Drummond in each case in relation to the
                        Business;
	
                             

                        	
                            
                            (c)

                        	
                            
                            for two years after Completion, in relation to an
                            internet casino, internet poker room, internet skill gaming, gaming
                            portal or gaming affiliate business, or a business which is in direct
                            competition with the Business, either on their own account or for
                            another person, directly or indirectly supply goods or services to a
                            person who, to their knowledge is, or has during one year preceding
                            Completion been, a client or customer of the Sellers in relation to the
                            Business or, as appropriate, in the habit of dealing with Justin
                            Drummond or Jason Drummond in each case in relation to the
                            Business;

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            for two years after Completion, directly or indirectly
                            carry on or be engaged, concerned or interested in an internet casino,
                            internet poker room, internet skill gaming, gaming portal or gaming
                            affiliate business, or a business which is in direct competition with
                            the Business including, without limitation, such businesses:

                        

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            which have a .co.uk extension; or

                        

            

            
                	
                             

                        	
                            
                            (ii)

                        	
                            
                            that include or have advertising by internet skillgames,
                            casinos and poker rooms that have a .co.uk extension either

                        

            

            
                	
                             

                        	
                            
                            (A)

                        	
                            
                            as a feed from a secondary website; or

                        

            

            
                	
                             

                        	
                            
                            (B)

                        	
                            
                            directly on that website; or

                        

            

            
                	
                             

                        	
                            
                            (iii)

                        	
                            
                            that have advertising or text links with copy containing
                            promotional offers in pounds sterling; or

                        

            

            
                	
                             

                        	
                            
                            (iv)

                        	
                            
                            that target the United Kingdom;

                        

            

            
                	
                             

                        	
                            
                            (e)

                        	
                            
                            at any time after Completion, in any
                            jurisdiction:

                        

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            apply to register, register or seek to register any
                            trade marks, domain names, company names, copyright or analogous right;
                            or

                        

            

            
                	
                             

                        	
                            
                            (ii)

                        	
                            
                            directly or indirectly carry on a business activity
                            under a name,

                        

            

            
            which is identical with, or is so similar as to give the Buyer a right
            to bring a passing off claim against any of the Sellers, Justin Drummond or Jason
            Drummond in relation to, any of the Domain Names or includes any of the Business
            Intellectual Property Rights incorporated within the Domain Names; or

            
                	
                             

                        	
                            
                            (f)

                        	
                            
                            at any time after Completion, make adverse comments in
                            relation to the Buyer or its employees, or the Business or the
                            Assets.

                        

            

            
                	
                            
                            19.2

                        	
                            
                            Nothing contained within Clause 19.1(b), (c), (d), or
                            (e) shall prevent the Sellers or Justin Drummond or Jason Drummond
                            from

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            operating the website “gambling.com”;
                            or,

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            operating any website or domain name fairly disclosed in
                            the Disclosure Letter (the
                            “Websites”);
                            or

                        

            

            
            18

            
            

            
                

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            operating its mobile gaming business

                        

            

            
            in each case as each of “gambling.com”, the Websites and the
            mobile gaming business are operated (where such Websites are capable of being operated)
            on the date of this Agreement.

            
                	
                            
                            19.3

                        	
                            
                            The Sellers and each of Justin Drummond and Jason
                            Drummond agree that the covenants and undertakings contained in
                            Clause 19.1 are reasonable and are entered into for the purpose of
                            protecting the goodwill, confidential information and trade connections
                            of the Business. Accordingly the benefit of the covenants and
                            undertakings may be assigned by the Buyer and its successors in title
                            in accordance with Clause 18 without the consent of the Sellers and
                            each of Justin Drummond and Jason Drummond. Without prejudice to any
                            right to seek injunctive relief in relation to a breach or threatened
                            breach of Clause 19.1, it is agreed that the maximum liability of Jason
                            Drummond and Justin Drummond personally for damages, costs and any
                            other claim relating to Clause 19.1 shall be £10,000 each (the
                            “Cap”).
                            Notwithstanding the preamble to Clause 19.1, the Sellers shall be
                            jointly and severally liable for and agree to pay to the Buyer on
                            demand any damages, costs and penalties awarded to the Buyer in excess
                            of the Cap in the event of breach by either of Justin Drummond or Jason
                            Drummond in Clause 19 of this Agreement.

                        

            

            
                	
                            
                            19.4

                        	
                            
                            Each undertaking contained in Clause 19.1 shall be
                            construed as a separate undertaking. If one or more of them is held to
                            be against the public interest or unlawful or an unreasonable restraint
                            of trade, the remaining undertakings shall continue to bind the
                            Sellers, Justin Drummond and Jason Drummond.

                        

            

            
                	
                            
                            19.5

                        	
                            
                            For six months following Completion (or as extended or
                            reduced as agreed between the Buyer and Media Corp), the Sellers shall
                            provide or shall procure the provision of, at no cost to the Buyer,
                            customer service call centre and email support to the customers of the
                            White Label Business in the same manner and to the same extent as the
                            Sellers provide or procure those services to the White Label Business
                            as at the date of this Agreement.

                        

            

            
                	
                            
                            19.6

                        	
                            
                            For six months following Completion (or as extended or
                            reduced as agreed between the Buyer and Media Corp), the Sellers shall
                            provide or shall procure the provision of, at no cost to the Buyer, any
                            and all transition services (including such transitional services as
                            are set out in Schedule 7) as the Buyer may reasonably require in order
                            to duly and properly effect a transition of the management and
                            operation of the Business to the Buyer. Such services shall be provided
                            in substantially the same way and to the same quality as they were
                            provided during the six months prior to Completion. The Sellers
                            acknowledge that subject to the provisions of Schedule 5, the Buyer
                            shall have control of financial and policy matters affecting the
                            Business following Completion.

                        

            

            
                	
                            
                            19.7

                        	
                            
                            The obligations of the Sellers, Justin Drummond and
                            Jason Drummond provided for in this Clause 19 are entered into in
                            consideration of, inter
                            alia, (i) the payment of £15,000 to
                            each of Justin Drummond and Jason Drummond (the receipt and sufficiency
                            of which is hereby acknowledged), (ii) facilitating the purchase of the
                            Assets by the Buyer, (iii) the Buyer complying with its obligations
                            under this Agreement (it being acknowledged by all the Parties hereto
                            that the consideration payable under this Agreement pursuant to Clause
                            4.1(a) and this Clause 19 has been quantified on the basis of,
                            inter alia, the
                            enforceability of the obligations in this Clause 19) and (iv) the
                            execution and delivery of this Agreement as a deed.

                        

            

            
            19

            
            

            
                

            

            
                	
                            
                            19.8

                        	
                            
                            Justin Drummond and Jason Drummond each agree to account
                            to HM Revenue & Customs for the income tax and national insurance
                            contributions due in respect of the consideration paid to them under
                            Clause 19.7 above.

                        

            

            
                	
                            
                            19.9

                        	
                            
                            Within one month of Completion, the Sellers undertake to
                            the Buyer to remove a link labelled “casino.co.uk” from
                            each of Orange UK and Vodafone UK’s WAP pages.

                        

            

            
                 
            

            
                	
                            
                            20

                        	
                            
                            VAT

                        

            

            
                	
                            
                            20.1

                        	
                            
                            All amounts payable by the Buyer under this agreement
                            for the supply of goods and services are exclusive of any VAT that may
                            be chargeable on them.

                        

            

            
                	
                            
                            20.2

                        	
                            
                            If any VAT is properly chargeable by the Sellers or any
                            of them and payable under this Agreement, the Buyer will pay an amount
                            equal to such VAT (including where charged, any interest and penalties)
                            to the relevant Seller three Business Days before the date on which the
                            relevant Seller is due to account for the same to HMRC provided that a
                            valid VAT invoice has first been delivered to the Buyer by the relevant
                            Seller or, if later, five Business Days after the relevant Seller has
                            delivered a valid VAT invoice to the Buyer.

                        

            

            
                	
                            
                            20.3

                        	
                            
                            The Buyer confirms that it belongs in the Republic of
                            Ireland and will receive the supply of the Assets for the purpose of a
                            business carried on by it in the Republic of Ireland.

                        

            

            
                	
                            
                            20.4

                        	
                            
                            The Buyer warrants that, following completion of the
                            transition of the Business to the Buyer as contemplated by Clause 19.6,
                            the supply of the Assets under Clause 2.1 of this Agreement will be
                            received and used by it outside of the United Kingdom.

                        

            

            
                 
            

            
                	
                            
                            21

                        	
                            
                            ANNOUNCEMENTS

                        

            

            
            Except as required by law, the UK Listing Authority, the London Stock
            Exchange or the Panel on Takeovers and Mergers, no announcement or statement shall be
            made in relation to this Agreement except for the announcement in the Agreed Form or
            otherwise as specifically agreed between the parties. An announcement by the Sellers
            shall in any event be issued only after prior consultation with the Buyer.

            
                 
            

            
                	
                            
                            22

                        	
                            
                            INFORMATION AND FURTHER ASSURANCE

                        

            

            
                	
                            
                            22.1

                        	
                            
                            Except as required by law or any regulatory body, the
                            Sellers and the Buyer shall keep confidential this Agreement and its
                            terms and conditions and shall not disclose the same to any third party
                            without the prior written consent of the other party.

                        

            

            
                	
                            
                            22.2

                        	
                            
                            The Sellers will, following a request by the
                            Buyer:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            at their own expense, execute any document and do any
                            thing; and

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            at their own reasonable expense and using their
                            reasonable endeavours to procure that a third party executes any
                            document and does any thing,

                        

            

            
            reasonably necessary to give the Buyer the full benefit of this
            Agreement and to perfect the transaction intended to be effected pursuant to this
            Agreement.

            
            20

            
            

            
                

            

            
                	
                            
                            22.3

                        	
                            
                            The Sellers shall after Completion retain the Retained
                            Business Records for a minimum of six years and shall during such
                            period give to the Buyer and its representatives reasonable facilities
                            to inspect the Retained Business Records and to take copies and
                            extracts so far as they relate to the Business at all reasonable times
                            and on reasonable advance notice.

                        

            

            
                	
                            
                            22.4

                        	
                            
                            The Sellers shall procure that all notices,
                            correspondence, information, orders or enquiries relating to the
                            Business which are received by the Sellers or any member of the Media
                            Corp Group on or after Completion shall be passed to the Buyer as soon
                            as reasonably practicable.

                        

            

            
                	
                            
                            22.5

                        	
                            
                            At any time after Completion and upon reasonable request
                            from time to time the Buyer shall provide, or procure to be provided,
                            to Media Corp (at Media Corp’s expense), all information relating
                            to the Business relating to the period up to Completion and which is in
                            its possession or under its control.

                        

            

            
                	
                            
                            23

                        	
                            
                            RIGHTS AND REMEDIES OF THE BUYER

                        

            

            
                	
                            
                            23.1

                        	
                            
                            The rights and remedies of the Buyer shall not be
                            affected, and the Warranties shall not be regarded as being qualified,
                            by:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            any investigation made by or on behalf of the Buyer
                            regarding the Assets or the affairs of the Sellers other than a matter
                            fairly disclosed in accordance with Clause 15.3; or

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            any matter within the actual, imputed or constructive
                            knowledge of the Buyer or of any of its agents or advisers other than a
                            matter fairly disclosed in accordance with Clause 15.3.

                        

            

            
                	
                            
                            23.2

                        	
                            
                            The rights and remedies of the Buyer shall not be
                            affected by it failing to exercise, or delaying in exercising, a right
                            or remedy, or by anything else, except a specific authorised written
                            waiver or release. A single or partial exercise of a right or remedy
                            provided by this Agreement or by law does not prevent its further
                            exercise or the exercise of another right or remedy.

                        

            

            
                 
            

            
                	
                            
                            24

                        	
                            
                            WAIVER

                        

            

            
            Waiver by the Buyer and/or the Sellers of a breach of a term of this
            Agreement, or of a default under it, does not constitute a waiver of another breach or
            default nor affect the other terms of this Agreement.

            
                 
            

            
                	
                            
                            25

                        	
                            
                            NO MERGER

                        

            

            
            The obligations contained in or implied by this Agreement which have not
            been performed at or prior to Completion and the warranties and indemnities contained
            in it and any rights or remedies available pursuant to it shall remain in full force
            and effect notwithstanding, and shall not be affected by, Completion.

            
                 
            

            
                	
                            
                            26

                        	
                            
                            CUMULATIVE RIGHTS

                        

            

            
            The rights and remedies provided in this Agreement are cumulative and
            not exclusive of any other rights or remedies.

            
            21

            
            

            
                

            

            
                	
                            
                            27

                        	
                            
                            CONTRACTS (RIGHTS OF THIRD PARTIES) ACT
                            1999

                        

            

            
                	
                            
                            27.1

                        	
                            
                            Unless the right of enforcement is expressly granted, it
                            is not intended that a third party should have the right to enforce a
                            provision of this Agreement pursuant to the Contracts (Rights of Third
                            Parties) Act 1999.

                        

            

            
                	
                            
                            27.2

                        	
                            
                            The parties may vary this Agreement without the consent
                            of a third party to whom an express right to enforce any of its terms
                            has been provided.

                        

            

            
                 
            

            
                	
                            
                            28

                        	
                            
                            COSTS

                        

            

            
            Expenses incurred by or on behalf of the parties, including the fees of
            agents and advisers employed in connection with the negotiation, preparation or
            execution of this Agreement, shall be borne by the party who incurred the
            liability.

            
                	
                            
                            29

                        	
                            
                            SET-OFF, WITHHOLDING TAX AND
                            GROSSING-UP

                        

            

            
                	
                            
                            29.1

                        	
                            
                            The Sellers and the Buyer shall pay all sums payable by
                            them under or pursuant to the terms of this Agreement free and clear of
                            any counterclaim or set-off of any kind.

                        

            

            
                	
                            
                            29.2

                        	
                            
                            The Sellers and the Buyer shall pay all sums payable by
                            them under or pursuant to the terms of this Agreement free and clear of
                            all deductions or withholdings except for those required by law. If a
                            deduction or withholding is required by law the Sellers or the Buyer
                            (as appropriate) shall pay such additional amount as will ensure that
                            the net amount the payee receives equals the full amount which it would
                            have received had the deduction or withholding not been
                            required.

                        

            

            
                	
                            
                            29.3

                        	
                            
                            In the event that any sum paid or payable by the Sellers
                            to the Buyer, or by the Buyer to the Sellers, under or pursuant to this
                            Agreement is or will be chargeable to Tax in the hands of the payee (or
                            would be so chargeable but for the availability of any relief) then the
                            Sellers or the Buyer (as appropriate) shall pay such additional amount
                            as will ensure that the total amount received, net of Tax chargeable on
                            such amount (or that would be so chargeable but for such relief), is
                            equal to the amount that would otherwise be payable under or pursuant
                            to this Agreement.

                        

            

            
                 
            

            
                	
                            
                            30

                        	
                            
                            INVALIDITY

                        

            

            
                	
                            
                            30.1

                        	
                            
                            Subject to Clause 30.2 and Clause 30.3, if a
                            provision of this Agreement is held to be illegal or unenforceable, in
                            whole or in part, under an enactment or rule of law, it shall to that
                            extent be deemed not to form part of this Agreement and the
                            enforceability of the remainder of this Agreement shall not be
                            affected.

                        

            

            
                	
                            
                            30.2

                        	
                            
                            If a provision of this Agreement is, or but for this
                            Clause would be, held to be illegal or unenforceable, in whole or part,
                            but would be legal and enforceable if the period of application or
                            geographical application were reduced or if part of the provision were
                            deleted, the provision shall apply with the minimum modification
                            necessary to make it legal and enforceable.

                        

            

            
                	
                            
                            30.3

                        	
                            
                            If a provision of this Agreement is held to be illegal
                            or unenforceable, in whole or in part, and Clause 30.2 cannot be
                            used to make it legal and enforceable, the Buyer and/or the Sellers (as
                            the case may be) may require the Sellers and/or the Buyer (as the case
                            may be) to enter into a new deed under which the Sellers and/or the
                            Buyer (as the case may be) undertakes in the terms of the original
                            provision, but subject to such amendments as the Buyer and/or the
                            Sellers (as the case may be) specifies in order to make the provision
                            legal and enforceable. The

                        

            

            
            22

            
            

            
                

            

            
                	
                        	
                        Sellers and/or the Buyer (as the case may be) will not be
                        obliged to enter into a new deed that would increase its liability beyond
                        that contained in this Agreement, had all its provisions been legal and
                        enforceable.
	
                            
                            31

                        	
                            
                            COUNTERPARTS

                        

            

            
                	
                            
                            31.1

                        	
                            
                            This Agreement may be executed in a number of
                            counterparts and by the parties on different counterparts, but shall
                            not be effective until each party has executed at least one
                            counterpart.

                        

            

            
                	
                            
                            31.2

                        	
                            
                            Each counterpart, when executed, shall be an original,
                            but all the counterparts together constitute the same
                            document.

                        

            

            
                	
                            
                            32

                        	
                            
                            COMMUNICATIONS

                        

            

            
                	
                            
                            32.1

                        	
                            
                            All communications between the parties with respect to
                            this Agreement shall be in writing and shall:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            be delivered by hand, or sent by first class prepaid
                            post (or airmail if sent outside Great Britain) to, the registered
                            office for the time being of the addressee or to another address in
                            Great Britain which the addressee notifies for the purpose of this
                            Clause; or

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            be sent by facsimile to the facsimile number stated
                            below or as notified for the purpose of this Clause.

                        

            

            
                	
                            
                            32.2

                        	
                            
                            In the absence of evidence of earlier receipt,
                            communications shall be deemed to have been received as
                            follows:

                        

            

            
                	
                             

                        	
                            
                            (a)

                        	
                            
                            (if sent by post within Great Britain) two Business Days
                            after posting;

                        

            

            
                	
                             

                        	
                            
                            (b)

                        	
                            
                            (if sent by post outside Great Britain) five Business
                            Days after posting;

                        

            

            
                	
                             

                        	
                            
                            (c)

                        	
                            
                            (if delivered by hand) on the day of delivery, if
                            delivered at least two hours before the close of business hours on a
                            Business Day, and otherwise on the next Business Day; and

                        

            

            
                	
                             

                        	
                            
                            (d)

                        	
                            
                            (if sent by facsimile) at the time of transmission, if
                            received at least two hours before the close of business hours on a
                            Business Day, and otherwise on the next Business Day.

                        

            

            
                	
                            
                            32.3

                        	
                            
                            For the purposes of this
                            Clause 32 (Communications
                             ), “business
                            hours” means between the hours of 10.00
                            and 18.00 inclusive, London time.

                        

            

            
                	
                            
                            32.4

                        	
                            
                            In proving service it shall be sufficient to prove that
                            personal delivery was made, or that the envelope containing the notice
                            was properly addressed and stamped and placed in the post or that the
                            facsimile transmission was transmitted to the specified number and a
                            confirmatory transmission report received.

                        

            

            
                	
                            
                            32.5

                        	
                            
                            Communications addressed to the Sellers or Justin
                            Drummond or Jason Drummond which is delivered or sent in accordance
                            with Clause 32.1, shall be marked for the attention of Justin
                            Drummond and communications addressed to the Buyer or CryptoLogic shall
                            be marked for the attention of the Managing Director, with a copy to
                            the General Counsel of Cryptologic Limited.

                        

            

            
                	
                            
                            32.6

                        	
                            
                            The facsimile numbers referred to in Clause 32.1
                            are:

                        

            

            
            23

            
            

            
                

            

            
                	
                             

                        	
                            
                            for the Sellers:

                        	
                            
                            +44 (0) 207 618 9001

                        

            

            
                	
                             

                        	
                            
                            for the Buyer:

                        	
                            
                            + 001 416 840 3165 (with a copy to +44 (0) 207 616
                            1984).

                        

            

            
                 
            

            
                	
                            
                            33

                        	
                            
                            ENTIRE AGREEMENT

                        

            

            
                	
                            
                            33.1

                        	
                            
                            This Agreement and the documents referred to in it
                            together constitute the whole agreement between the parties and,
                            subject as expressly provided to the contrary in this Agreement,
                            supersede all previous negotiations, agreements and understandings,
                            written or oral, between the parties relating to the subject matter of
                            this Agreement.

                        

            

            
                	
                            
                            33.2

                        	
                            
                            Each of the parties acknowledge that in entering into
                            this Agreement, it does not rely on, and will have no remedy in respect
                            of, any statements, warranties or undertakings (whether negligently or
                            innocently made) of any person (whether party to this Agreement or not)
                            other than as expressly set out in this Agreement.

                        

            

            
                	
                            
                            33.3

                        	
                            
                            Nothing in this Clause 33 will operate to limit or
                            exclude any liability for fraud.

                        

            

            
                 
            

            
                	
                            
                            34

                        	
                            
                            PROPER LAW

                        

            

            
            This Agreement shall be governed by and construed in accordance with
            English law and the parties submit any dispute which may arise out of, under, or in
            connection with this Agreement to binding arbitration in accordance with the Rules of
            Arbitration of the International Chamber of Commerce. All arbitration proceedings shall
            be in the English language and take place in London, England.

            
            Delivered as a deed on the date of this document.

            
            24

            
            

            
                

            

            
            Schedule 1

            
            Schedule 1

            
             

            
            The Business

            
            The Business compromises:

            
                	
                            
                            1

                        	
                            
                            an internet casinos and poker rooms portals business
                            operated through the following six internet Domain Names: casino.co.uk,
                            findpoker.com, findpoker.eu, got2bet.com, got2bet.co.uk,
                            skillgaming.co.uk and casino.ie (the “Portals Business”);
                            and

                        

            

            
                	
                            
                            2

                        	
                            
                            white label affiliate businesses operated pursuant to an
                            agreement between Profitable Play N.V. and Xworks (UK) Ltd. dated 6
                            January 2004 and related to the Jackpot Joy white label (the
                            “White Label Business”).

                        

            

            
                
                25

            

            
            

            
                

            

            
            Schedule 2 : Business Contract

            
            Schedule 2

            
            Business Contract

            
             

            
                	
                            
                            1.

                        	
                            
                            The agreement dated 6 January 2004 between Profitable
                            Play N.V. and Xworks (UK) Limited, relating to the “Jackpot
                            Joy” white label.

                        

            

            
                
                26

            

            
            

            
                

            

            
            Schedule 3 : Warranties

            
            Schedule 3

            
            Warranties

            
                	
                            
                            1

                        	
                            
                            Corporate Capacity

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Sellers:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            are duly incorporated and validly existing under the
                            laws of the jurisdiction of their incorporation; and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            have full corporate power and authority to carry on the
                            Business.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The Sellers have taken all corporate and other actions
                            necessary to enable them to enter into and perform their obligations
                            under this Agreement, to transfer and convey the Assets to the Buyer,
                            which constitutes or when executed will constitute, binding obligations
                            on them in accordance with its respective terms, and the Sellers have
                            secured all approvals and consents (governmental or otherwise) required
                            for the performance of the transactions contemplated by this
                            Agreement.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            The Sellers have carried on the Business in accordance
                            with their memorandum and articles of association.

                        

            

            
                	
                            
                            2

                        	
                            
                            Books and records

                        

            

            
            The books and records of the Business which are to be delivered to the
            Buyer at Completion have:

            
                	
                            
                            (a)

                        	
                            
                            been fully and accurately kept in all material
                            respects;

                        

            

            
                	
                            
                            (b)

                        	
                            
                            do not contain material inaccuracies or omissions;
                            and

                        

            

            
                	
                            
                            (c)

                        	
                            
                            are all the books and records relevant to the
                            Business.

                        

            

            
                	
                            
                            3

                        	
                            
                            Disclosed Accounts

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Disclosed Accounts:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            were properly prepared from the records of the Business
                            and, so far as the Sellers are aware, do not contain any material
                            inaccuracies; and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            and properly reflect the position regarding revenue and
                            affiliate commissions of the Business which relate to the Domain Names
                            and the Business Contract at the date to which they are made
                            up.

                        

            

            
                	
                            
                            4

                        	
                            
                            Possession of documents

                        

            

            
            All deeds, agreements and other documents relating to the Assets or the
            Business to which the Sellers are a party or is entitled to enforce are in the
            possession of the Sellers or under their control.

            
                	
                            
                            5

                        	
                            
                            Investigations

                        

            

            
            No investigations or enquiries, by or on behalf of, a governmental or
            other body in respect of any aspect of the Business are taking place.

            
            27

            
            

            
                

            

            
                Schedule 3 : Warranties
            

            
                 
            

            
                	
                            
                            6

                        	
                            
                            Assets and Trading

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Sellers own and have good title to all the Assets,
                            free and clear of all encumbrances, and still own and have good title
                            to them and all Assets acquired since the Accounts Date and no third
                            party has any interest in the Assets.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The Sellers have not created or granted or agreed to
                            create or grant any Encumbrance or offered for sale, its estate or
                            interest in any of the Assets or acquired or agreed to be acquired
                            since the Accounts Date.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            None of the Assets is subject to any Encumbrance or any
                            bill of sale, hire-purchase, conditional sale, credit-sale, leasing or
                            other agreement for payment on deferred terms or any agreement or
                            commitment to grant or enter into any of the foregoing.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            The Assets comprise all the assets necessary for the
                            continuation of the Business as presently carried on.

                        

            

            
                	
                            
                            (e)

                        	
                            
                            All consents and agreements of third parties which are
                            required for the transfer of the Assets to the Buyer have been obtained
                            in writing and are attached to the Disclosure Letter.

                        

            

            
                	
                            
                            7

                        	
                            
                            Changes since Accounts Date

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Since the Accounts Date:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            the Business has been continued in the usual
                            course;

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            the Sellers have not, in relation to the Business,
                            disposed of any Assets or assumed or incurred any outstanding capital
                            commitment or any material liabilities (whether actual or contingent)
                            otherwise than in the ordinary course of its trading
                            business;

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            the Sellers have paid the creditors of the Business in
                            accordance with its usual working practices; and

                        

            

            
                	
                            
                             

                        	
                            
                            (iv)

                        	
                            
                            there has not occurred any material adverse change in
                            the operations, assets, financial or trading position or revenues of
                            the Business as compared against the period 1 January 2006 to 20 August
                            2006, excluding, in any such case, any event, circumstance or change
                            resulting from:

                        

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            matters fairly disclosed in the Disclosure Letter;
                            or

                        

            

            
                	
                             

                        	
                            
                            (ii)

                        	
                            
                            this transaction.

                        

            

            
                	
                            
                            8

                        	
                            
                            Effect of sale of the Business

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Since the Accounts Date, the Sellers have received no
                            notification that:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            a material customer or client of the Business will
                            cease, or be entitled to cease, to deal with it or with the Sellers or
                            may substantially reduce its existing level of business with the
                            Business of the Sellers; or

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            the Business will lose the benefit of a right which it
                            enjoys.

                        

            

            
            28

            
            

            
                

            

            
                Schedule 3 : Warranties
            

            
                	
                            
                            (b)

                        	
                            
                            Compliance with the terms of this Agreement does not and
                            will not so far as such provisions relate to the Business:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            conflict with, or result in the breach of, or constitute
                            a material default under an agreement or arrangement to which the
                            Sellers are a party relating to the Business or a restriction or
                            obligation by which or to which an asset of the Business is bound or
                            subject;

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            relieve another person from any material contractual
                            obligation to the Business or enable another person to determine such
                            an obligation, or a right or benefit enjoyed by the Business, or to
                            exercise a right, whether under an agreement with, or otherwise in
                            respect of the Business;

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            result in the creation, imposition, crystallisation or
                            enforcement of an encumbrance on assets of the Business or the
                            Sellers.

                        

            

            
                	
                            
                            9

                        	
                            
                            Joint ventures and partnerships

                        

            

            
            The Sellers:

            
                	
                            
                            (a)

                        	
                            
                            are not, and have not been, a party to a joint venture
                            or consortium or partnership, or to an agreement or arrangement for
                            sharing commissions or other income relating to the Business;
                            and

                        

            

            
                	
                            
                            (b)

                        	
                            
                            does not conduct, and have not conducted, a part of the
                            Business through a branch, agency or permanent establishment outside
                            the United Kingdom.

                        

            

            
                	
                            
                            10

                        	
                            
                            Agreements concerning the Business

                        

            

            
                	
                            
                            (a)

                        	
                            
                            There are no agreements or arrangements between the
                            Sellers and a person who is a shareholder, or the beneficial owner of
                            an interest, in it, or in a company in which the Sellers are
                            interested, relating to:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            the management of the Business;

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            the ownership, transfer of ownership or letting of the
                            Assets;

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            the provision, supply or purchase of finance, goods,
                            services or other facilities to, by or from the Business; or

                        

            

            
                	
                            
                             

                        	
                            
                            (iv)

                        	
                            
                            otherwise relating to the Business or the
                            Assets.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The Sellers are not a party to an agency,
                            distributorship, marketing, purchasing, manufacturing or licensing
                            agreement or arrangement, or a restrictive agreement or arrangement
                            which restricts its freedom to carry on the Business or to use or
                            exploit the Assets.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            The Business Contract provided by the Sellers to the
                            Buyer and the insertion orders provided to the Buyer’s
                            Accountants as part of the financial due diligence exercise, constitute
                            all the contracts and other engagements, whether written or oral,
                            referable to the Business and full particulars of any amendments to the
                            Business Contract, whether written or oral, are fairly disclosed in the
                            Disclosure Letter.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            To the Sellers’ knowledge, neither the Business
                            Contract nor any of the insertion orders provided to the Buyer’s
                            Accountants as part of the financial due diligence exercise are void or
                            voidable at the instance of any party or are unenforceable
                            by

                        

            

            
            29

            
            

            
                

            

            
                Schedule 3 : Warranties
            

            
                	
                             

                        	
                        the Sellers, and particulars of any amendments to the
                        Business Contract, whether written or oral, have been fairly disclosed to
                        the Buyer in the Disclosure Letter.
	
                            
                            (e)

                        	
                            
                            No party to a Business Contract or an insertion order
                            provided to the Buyer’s Accountants as part of the financial due
                            diligence exercise, is in default under it, being a default which is
                            material in the context of the Business; and so far as the Sellers are
                            aware there is nothing likely to give rise to a default.

                        

            

            
                	
                            
                            11

                        	
                            
                            Litigation disputes and winding up

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Sellers are not engaged in litigation or
                            arbitration, proceedings as plaintiff or defendant in relation to the
                            Business; there are no proceedings threatened, either by or against the
                            Sellers affecting the Business; and so far as the Sellers are aware
                            there is nothing which is likely to give rise to litigation or
                            arbitration.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            There is no dispute with a Tax or other official
                            department in relation to the Business and so far as the Sellers are
                            aware there is nothing which may give rise to a dispute.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            No receiver or administrative receiver has been
                            appointed over the whole or any part of the Assets or the Business, nor
                            are the Sellers the subject of an application to the court for an
                            administration order, a notice of appointment of an administrator, a
                            notice of intention to appoint an administrator or has an administrator
                            appointed over it.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            No petition has been presented, no order has been made
                            and no resolution has been passed for the winding up of the Sellers or
                            for the appointment of a liquidator or provisional liquidator of the
                            Sellers.

                        

            

            
                	
                            
                            (e)

                        	
                            
                            No voluntary arrangement has been proposed or is in
                            force under  Part 1 of the Insolvency Act
                            1986 in respect of the Sellers.

                        

            

            
                	
                            
                            (f)

                        	
                            
                            No compromise or arrangement has been proposed, agreed
                            to or sanctioned in respect of the Sellers.

                        

            

            
                	
                            
                            (g)

                        	
                            
                            The Sellers have not stopped payment of their creditors
                            generally nor are they insolvent or unable to pay their debts as and
                            when they fall due within the meaning of section 123 Insolvency Act
                            1986.

                        

            

            
                	
                            
                            (h)

                        	
                            
                            The Sellers have terminated all arrangements and
                            agreements relating to the Business with any third party engaged in any
                            online gambling business that accepts wagers from, and/or allows access
                            to, residents of the United States of America and, so far as the
                            Sellers are aware, no third parties engaged in any online gaming
                            business with which arrangements with advertisers and agreements
                            relating to the Business have been entered into and are subsisting,
                            intend to accept such wagers and/or allow such access.

                        

            

            
                	
                            
                            12

                        	
                            
                            Compliance with statutes and licences

                        

            

            
            The Sellers have obtained all material licences and consents required to
            carry on their business and operate the Business (short particulars of each licence and
            consent being set out in the Disclosure Letter); all the material licences and consent
            in relation to the Business are valid and subsisting; the Sellers are not in breach of
            any of them and there is nothing that might prejudice their continuation or renewal in
            the places and in the manner in which its business is now carried on which could have a
            material adverse effect on the Business.

            
            30

            
            

            
                

            

            
                Schedule 3 : Warranties
            

            
                	
                            
                            13

                        	
                            
                            Data protection

                        

            

            
                	
                            
                            (a)

                        	
                            
                            In relation to the Business, the Sellers are fully
                            compliant with all applicable data protection laws and have taken all
                            necessary steps to achieve compliance with the Data Protection Act
                            1998, including, (without limitation):

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            informing data subjects of the identity of the data
                            controller, its nominated representatives, the uses made of the data
                            and any potential disclosures and obtaining their consent (if
                            necessary) in connection with the processing of personal
                            data;

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            having in place appropriate technical and organisational
                            measures against the accidental or unauthorised destruction, loss,
                            alteration or disclosure of personal data and procedures to ensure that
                            unauthorised persons do not have access to any equipment used to
                            process such data; and

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            having in place appropriate systems to identify which
                            individuals have instructed the Sellers that they do not wish to
                            receive marketing information and comply with such
                            instructions.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            In relation to the Business, no individual has claimed,
                            and no grounds exist for any individual to claim compensation from the
                            Sellers under the applicable data protection legislation for loss or
                            unauthorised disclosure of data or for any contravention of any of the
                            requirements of the Data Protection Act 1998.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            In relation to the Business, the Sellers have not
                            received a notice or allegation from either the Information
                            Commissioner or a data subject alleging non-compliance with the data
                            protection legislation, or prohibiting the transfer of data to a
                            country or territory outside the United Kingdom or the European
                            Economic Area.

                        

            

            
                	
                            
                            14

                        	
                            
                            Intellectual Property Rights

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Business Intellectual Property Rights transferred as
                            part of the Assets is all the Intellectual Property Rights material to
                            the operation of the Business and all the Intellectual Property Rights
                            necessary to enable the Buyer to carry on the Business in the same
                            manner and to the same extent as it was carried out by the Sellers
                            before Completion.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The Business Intellectual Property Rights are owned by
                            and vested in the Sellers free from all Encumbrances.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            The Sellers’ ownership, possession and use of the
                            Business Intellectual Property or any part of it, and the transfer to
                            the Buyer hereunder, does not so far as the Sellers are aware infringe
                            the rights of any third party.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            There have not been actions, claims, counterclaims or
                            applications and no notice of any allegations have been received by the
                            Sellers impugning the validity, enforceability or ownership, of the
                            Business Intellectual Property Rights, and the Sellers have not
                            received any notice that any such actions are pending.

                        

            

            
                	
                            
                            (e)

                        	
                            
                            There have not been any actions, claims or allegations
                            by the Sellers against a third party alleging infringement of any of
                            the Business Intellectual Property.

                        

            

            
                	
                            
                            (f)

                        	
                            
                            No right has been granted by the Sellers to another
                            person to do anything which would infringe the Business Intellectual
                            Property.

                        

            

            
            31

            
            

            
                

            

            
                Schedule 3 : Warranties
            

            
                	
                            
                            (g)

                        	
                            
                            In so far as the Business Intellectual Property is
                            registered or application for registration has been made by the
                            Sellers:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            all relevant registrations and applications for the
                            rights are in the name of the Sellers; and

                            
                             

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            no application for registration has been discontinued by
                            the Sellers.

                        

            

            
                	
                            
                            (h)

                        	
                            
                            No member of the Media Corp Group owns or has any rights
                            to use any domain name that is substantially similar to any of the
                            Domain Names or includes any of the Business Intellectual Property
                            Rights incorporated within the Domain Names.

                        

            

            
                	
                            
                            15

                        	
                            
                            Software/hardware

                        

            

            
                	
                            
                            (a)

                        	
                            
                            To the extent that the Sellers do not own the
                            intellectual property in any of the software which comprises the
                            Assets, they are licensed to use such software on terms disclosed to
                            Buyer in the Disclosure Letter.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            In respect of all material software which comprises the
                            Assets (which includes the Portal Management Software), the Sellers
                            hold copies of the source code or are a party to a fully enforceable
                            escrow agreement entitling them to access the source code in the event
                            of the insolvency of the licensor or failure of the licensor to provide
                            maintenance and support for such software.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            All material software and hardware used or purported to
                            be used in relation to the Assets is covered by subsisting maintenance
                            agreements and the terms of all such maintenance agreements are set out
                            in the Disclosure Letter.

                        

            

            
                	
                            
                            16

                        	
                            
                            Insurances

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Copies of all policies of insurance relating to the
                            Business and Assets are attached to the Disclosure Letter.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The Business is and has at all material times been,
                            adequately covered against accident, damage, injury, third party loss
                            (including product liability), loss of profits and other risks normally
                            insured against by persons carrying on business of the same kind as the
                            Business.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            All insurance relating to the Business or the Assets is
                            in full force, and as far as the Sellers are aware, nothing has been
                            done or omitted to be done which could make any policy of insurance
                            void or voidable.

                        

            

            
                
                32

            

            
            

            
                

            

            
            Schedule 4 : Seller protection provisions

            
            Schedule 4

            
            Seller protection provisions

            
                	
                            
                            1

                        	
                            
                            Definitions

                        

            

            
            In addition to the definitions in Clause 1.1, in this
            Schedule:

            
                	
                            
                             

                        	
                            
                            “Expiry
                            Date” means the 1st
                            anniversary of Completion.

                        

            

            
                	
                            
                             

                        	
                            
                            “Cumulative
                            Threshold” means
                            £40,000.

                        

            

            
                	
                            
                             

                        	
                            
                            “Warranty
                            Claim” means a claim by the Buyer under
                            Clause 14.1.

                        

            

            
                	
                            
                            2

                        	
                            
                            Introduction

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Nothing in this Schedule limits the liability of the
                            Sellers in the case of fraud or wilful or dishonest concealment or
                            non-disclosure by him or, prior to Completion, by the
                            Business.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The provisions of this Schedule operate so as to limit
                            the liability of the Sellers and to establish the procedures for
                            dealing with Warranty Claims.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            A breach of Warranty will not entitle the Buyer to
                            rescind or repudiate this Agreement.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            The Warranties shall be actionable only by the
                            Buyer.

                        

            

            
                	
                            
                            3

                        	
                            
                            Limitations

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Sellers shall not be liable in respect of a Warranty
                            Claim to the extent that:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            it occurs or is increased as a result of legislation not
                            in force at the date of this Agreement or any change after the date of
                            this Agreement to legislation in force at the date of this Agreement,
                            in either case whether or not the same takes effect
                            retrospectively;

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            it occurs or is increased as a result of a change in
                            generally accepted accounting practices after Completion whether or not
                            the same takes effect retrospectively;

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            it would not have arisen but for a breach by the Buyer
                            or any member of the Buyer’s Group of its obligations under this
                            Agreement or any document entered into pursuant to it;

                        

            

            
                	
                            
                             

                        	
                            
                            (iv)

                        	
                            
                            it would not have arisen but for anything occurring
                            after Completion due to the actions of the Buyer or a member of the
                            Buyer’s Group;

                        

            

            
                	
                            
                             

                        	
                            
                            (v)

                        	
                            
                            it would not have arisen but for the decision or request
                            of the Buyer before Completion; or

                        

            

            
                	
                            
                             

                        	
                            
                            (vi)

                        	
                            
                            a change in the basis or method of calculation of Tax or
                            increase in Taxation at Completion.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Payment of any Warranty Claim shall to the extent of
                            such payment satisfy and preclude any further or other claim which is
                            capable of being made in respect of the same subject matter whether
                            under the Warranties or any other provisions of this
                            Agreement.

                        

            

            
            33

            
            

            
                

            

            
                
                Schedule 4 : Seller protection provisions

            

            
                	
                            
                            4

                        	
                            
                            Warranty Claims

                        

            

            
            The aggregate liability of the Sellers to make payment to the Buyer in
            respect of Warranty Claims shall not exceed the aggregate of the amounts paid to the
            Sellers in accordance with Clauses 4.1 and 5.1.

            
                	
                            
                            5

                        	
                            
                            Time limits

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Subject to paragraph  5(c)
                            proceedings in relation to a Warranty Claim shall not be brought
                            against the Sellers unless written notice of the Warranty Claim
                            (stating in reasonable detail the nature of the breach of Warranty and
                            if practicable the amount claimed) is given to Media Corp before the
                            Expiry Date.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Subject to paragraph  5(c) if
                            a Warranty Claim has not been resolved on or before nine months from
                            the date of written notice of the Warranty Claim in accordance with
                            paragraph  5(a) and the Buyer has not by
                            then issued and served legal proceedings in respect of the Warranty
                            Claim, the Warranty Claim shall be deemed withdrawn by the
                            Buyer.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            The provisions of paragraph 
                            5(a) and paragraph  5(b) do
                            not apply in respect of Warranty Claims to the extent that delay in
                            recovery or process is the consequence of fraud or wilful or dishonest
                            concealment by the Sellers.

                        

            

            
                	
                            
                            6

                        	
                            
                            Thresholds

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Sellers will not have any liability for a Warranty
                            Claim unless the amount of it when added to the total amount of all
                            other Warranty Claims exceeds the Cumulative Threshold. The Sellers
                            will then be liable for the entire amount of such Warranty Claims and
                            not merely the excess over the Cumulative Threshold.

                        

            

            
                	
                            
                            7

                        	
                            
                            Recovery

                        

            

            
                	
                            
                            (a)

                        	
                            
                            If, as a result of circumstances giving rise to a
                            Warranty Claim, a member of the Buyer’s Group is entitled to make
                            recovery from a third party, the Buyer shall (provided that it is first
                            given an indemnity and security for all associated costs and expenses
                            by the Sellers in terms reasonably satisfactory to the
                            Buyer):

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            at the expense of the Sellers take such reasonable steps
                            as the Sellers require in relation to the right to recover from the
                            third party (but without instituting or defending legal
                            proceedings);

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            the Buyer will act in accordance with the Seller’s
                            reasonable instructions and will give notice to the Seller within 14
                            days of any relevant third party claim or circumstance reasonably
                            likely to give rise to a Warranty Claim; and

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            subject to paragraph  7(b),
                            account to the Sellers for the amount recovered by the Buyer or a
                            member of the Buyer’s Group less the aggregate of:

                        

            

            
                	
                            
                             

                        	
                            
                            (A)

                        	
                            
                            the associated costs (other than costs paid by the
                            Sellers) of seeking to obtain recovery;

                        

            

            
                	
                            
                             

                        	
                            
                            (B)

                        	
                            
                            Taxation (if any) arising from the recovery;
                            and

                        

            

            
                	
                            
                             

                        	
                            
                            (C)

                        	
                            
                            any amount for which the Sellers are otherwise given
                            credit or receive the benefit as a result of the recovery.

                        

            

            
            34

            
            

            
                

            

            
                
                Schedule 4 : Seller protection provisions

            

            
                	
                            
                            (b)

                        	
                            
                            The Buyer shall not be required as a result of
                            paragraph  7(a) to account to the
                            Sellers:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            for more than the aggregate of amounts paid by the
                            Sellers to the Buyer by way of redress in respect of the Warranty Claim
                            in respect of which the recovery is made; or

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            to the extent that the amount paid by the Sellers was
                            adjusted to take account of the benefit received.

                        

            

            
                	
                            
                            8

                        	
                            
                            Protection of goodwill

                        

            

            
            Nothing in this Schedule imposes an obligation on a member of the
            Buyer’s Group to do anything which in the Buyer’s reasonable opinion is
            likely to be detrimental on the prospects, reputation or goodwill of the Buyer or a
            member of the Buyer’s Group or the Business or would have a material adverse
            effect on the Buyer or a member of the Buyer’s Group or the Business.

            
                	
                            
                            9

                        	
                            
                            Retention of records for Sellers’
                            benefit

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Buyer undertakes with Media Corp to preserve for the
                            duration of the Earn-Out Period all books, records and documents of the
                            Business.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            For the duration of the Earn-Out Period, the Buyer will
                            permit, on reasonable notice and during business hours, Media Corp
                            access to all these books, records and documents.

                        

            

            
                	
                            
                            10

                        	
                            
                            Successful Warranty Claims deemed to constitute
                            a reduction in purchase price

                        

            

            
            The satisfaction by the Sellers of any Warranty Claim is deemed to
            constitute a reduction in the Consideration payable by the Buyer for the
            Business.

            
                	
                            
                            11

                        	
                            
                            Exclusion of certain Warranty Claims

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Buyer will not make any Warranty Claim against the
                            Sellers and the Sellers will have no liability to the Buyer for a
                            Warranty Claim under this Agreement or otherwise where that Warranty
                            Claim arises out of the Sellers having done (or omitted to do)
                            something before Completion at the Buyer’s request.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            If the Sellers pay to the Buyer an amount in respect of
                            a Warranty Claim (but only to the extent that such amount is in respect
                            of the full amount of the Warranty Claim) and the Buyer subsequently
                            recovers from another person an amount which is referable to the matter
                            giving rise to the Warranty Claim:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            if the amount paid by the Sellers in respect of the
                            Warranty Claim is more than the Sum Recovered, the Buyer shall pay to
                            the Sellers the Sum Recovered; and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            if the amount paid by the Sellers in respect of the
                            Warranty Claim is less than or equal to the Sum Recovered, the Buyer
                            shall immediately pay to the Sellers an amount equal to the amount paid
                            by the Sellers.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            For the purposes of paragraph 11 (b), “Sum
                            Recovered” means an amount equal to the total of the amount
                            recovered from the other person less all reasonable costs incurred and
                            Tax (including Tax that would have been incurred but for a relief being
                            available) by the Buyer in recovering the amount from the
                            person.

                        

            

            
            35

            
            

            
                

            

            
                
                Schedule 4 : Seller protection provisions

            

            
                	
                            
                            12

                        	
                            
                            No duplication of liability

                        

            

            
            The Buyer may not seek recovery from the Sellers (or any of them) more
            than once in respect of circumstances giving rise to a Warranty Claim or otherwise
            reducing the Consideration or giving rise to a liability of the Sellers to make payment
            or satisfy an obligation.

            
                	
                            
                            13

                        	
                            
                            Mitigation

                        

            

            
            Nothing in this Agreement affects the duty at law of the Buyer to
            mitigate its loss.

            
            36

            
            

            
                

            

            
            Schedule 5 : Conduct of Earn-Out Business during the
            Earn-Out Period

            
            Schedule 5

            
            Conduct of Earn-Out Business during the Earn-Out
            Period

            
                	
                            
                            1

                        	
                            
                            Introduction

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Buyer acknowledges the interests of Media Corp in
                            the trading of the Earn-Out Business during the Earn-Out Period and
                            that it is in the commercial interests of both the Buyer and Media Corp
                            to use all reasonable endeavours to ensure that the Earn-Out Business
                            is in a position to maintain and increase profitability. The Buyer also
                            acknowledges the interests of Media Corp in monitoring,
                            inter alia, the financial
                            performance, assets and obligations of the Earn-Out Business during the
                            Earn-Out Period.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Subject to the provisions of this Schedule, the Buyer
                            shall have control of financial and policy matters affecting the
                            Earn-Out Business.

                        

            

            
                	
                            
                            2

                        	
                            
                            Conduct of the Earn-Out Business during the Earn-Out
                            Period

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Buyer covenants with Media Corp that during the
                            Earn-Out Period it shall comply with following provisions of this
                            paragraph  2.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            During the Earn-Out Period, there will be the equivalent
                            of at least one full time employee working within the Business, either
                            as a result of the provision of the transitional services to be
                            provided by the Sellers in accordance with Clause 19.6, or as provided
                            by the Buyer, as necessary.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            The Buyer will retain the beneficial ownership of the
                            Earn-Out Business.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            The Buyer shall act in good faith towards Media Corp in
                            relation to the Earn-Out Business insofar as its acts could affect
                            whether the Additional Consideration becomes payable to Media Corp
                            under this Agreement.

                        
	
                            
                            (e)

                        	
                            
                            The Buyer shall not directly or indirectly compete with
                            the Earn-Out Business or require the Sellers to manage the Earn-Out
                            Business, or provide any of the transition or support services during
                            the Earn-Out period, from a location other than the current premises of
                            the Sellers. The provisions of this paragraph 2(e) shall not
                            prevent:

                        

            

            
                 
            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            the Buyer from effecting a transition of the management
                            and operation of the Business to
                            it as contemplated by Clause 19.6; or

                        
	
                        	
                        (ii)	
                        any member of the Buyer’s Group (as appropriate) from
                        operating ALI Online as it is operated on the date of
                        this Agreement.

            

            
                	
                            
                            (f)

                        	
                            
                            Subject to the Buyer effecting a transition of the
                            management and operation of the Business to it as contemplated by
                            Clause 19.6, the Buyer shall not, during the Earn-Out Period, restrict
                            the Sellers from operating the Earn-Out Business in the same or
                            substantially the same manner as it was operated during the six months
                            prior to Completion.

                        

            

            
                	
                            
                            (g)

                        	
                            
                            The Buyer shall not cease to carry on or dispose of the
                            whole or any substantial part of the Business during the Earn-Out
                            Period.

                        

            

            
                	
                            
                            (h)

                        	
                            
                            Save as agreed or as contemplated between the parties
                            prior to Completion, the Buyer shall not make a substantial change to
                            the nature or scope of the Business during the Earn-Out
                            Period.

                        

            

            
            37

            
            

            
                

            

            
                
                Schedule 5 : Conduct of Earn-Out Business during the
                Earn-Out Period

            

            
                	
                            
                            (i)

                        	
                            
                            The Buyer shall not pass any resolution for voluntary
                            winding up or petition for its own winding up or
                            administration.

                        

            

            
                
                38

            

            
            

            
                

            

            
            Schedule 6 : Determination of the Average
            Monthly Revenue 

            
            Schedule 6

            
            Determination of the Average Monthly Revenue

            
                	
                        1.	
                            
                            Earn-Out Accounts

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Buyer shall procure that Earn-Out Accounts are
                            prepared.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The Earn-Out Accounts shall be prepared on the same
                            principles, policies methods, practices and bases applied in preparing
                            the Disclosed Accounts but subject to such adjustments as provided for
                            in Schedule 6 paragraph  2.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            Following preparation of the Earn-Out Accounts, the
                            Buyer shall determine the Average Monthly Revenue by dividing the line
                            item entitled “Revenue” of the Earn-Out Business during the
                            Earn-Out Period by six.

                        

            

            
                	
                            
                            2

                        	
                            
                            Adjustments to the Earn-Out Accounts to determine the
                            Average Monthly Revenue

                        

            

            
                	
                            
                            (a)

                        	
                            
                            In order to determine the Average Monthly Revenue the
                            Earn-Out Accounts shall be adjusted so as to give credit
                            for:

                        

            

            
                	
                             

                        	
                            
                            (i)

                        	
                            
                            advertising revenue receivable by the Earn-Out
                            Business;

                        

            

            
                	
                             

                        	
                            
                            (ii)

                        	
                            
                            the sum of £1.25 per unique website visitor who
                            shall have visited InterCasino, Parbet or PlayboyGaming by clicking on
                            the InterCasino, Parbet or PlayboyGaming embedded link on
                            www.casino.co.uk, such link to be maintained as set out in paragraph 4
                            below;

                        

            

            
                	
                             

                        	
                            
                            (iii)

                        	
                            
                            such affiliate commissions received by the Media Corp
                            Group pursuant to an agreement between Gaming Corporation N.V. and
                            Virtue Fusion NC relating to the “Betsure” white label and
                            paid to, and received by, the Buyer in accordance with Clauses 9.7 and
                            9.8;

                        

            

            
                	
                             

                        	
                            (iii)

                        	
                             

                            
                             

                        

            

            
                	
                            
                             

                        	
                            
                            (A)

                        	
                            
                            (prior to the issue of the Game Account Notice (as such
                            term is defined in Clause 9.10)) such affiliate
                            commissions received by the Media Corp Group
                            pursuant to the agreement dated 11 February 2005
                            between Media Corporation Plc (formally Gaming Corporation
                            Plc) and Game Account Global Limited relating to the
                            white-labelled provision of skill-games and paid
                            to, and receivable by, the Buyer in accordance
                            with Clauses 9.9 and 9.10; and

                        
	
                        	
                        (B)	
                        (following the issue of the Game Account Notice) the Game
                        Account Revenue (as such term is defined in Clause
                        9.9) which would have been received by the Media Corp
                        Group pursuant to the agreement dated 11 February
                        2005 between Media Corporation Plc (formally Gaming
                        Corporation Plc) and Game Account Global Limited relating
                        to the white-labelled provision of skill-games had that
                        agreement remained in place; and

            

            
                	
                             

                        	
                            
                            (iv)

                        	
                            
                            affiliate commissions receivable by the Earn-Out
                            Business (including affiliate commissions receivable pursuant to the
                            Business Contract).

                        

            

            
                	
                            
                            (b)

                        	
                            
                            In order to determine the Average Monthly Revenue the
                            Earn-Out Accounts shall be adjusted so as to exclude:

                        

            

            
            39

            
            

            
                

            

            
                
                Schedule 6 : Determination of the Average Monthly
                Revenue 

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            commissions payable by gambling.com;

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            the revenues received by the Buyer (or any member of the
                            Buyer’s Group) pursuant to the New Game Account Agreement (as
                            such term is defined in Clause 9.10); and

                        

            

            
                	
                            
                             

                        	
                            
                            (iii)

                        	
                            
                            any revenues attributable to other assets owned by the
                            Seller.

                        

            

            
                	
                            
                            3

                        	
                            
                            Determination of Average Monthly
                            Revenue

                        

            

            
                	
                            
                            (a)

                        	
                            
                            The Buyer shall, within 20 Business Days following the
                            preparation of the Earn-Out Accounts, deliver a copy to Media Corp (the
                            “Average Monthly Revenue Statement”.)

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Unless Media Corp notifies the Buyer in writing within
                            20 Business Days after receipt of the Average Monthly Revenue Statement
                            that it does not accept that the Average Monthly Revenue Statement has
                            been properly determined, Media Corp shall be deemed to have accepted
                            the Average Monthly Revenue Statement and the Average Monthly Revenue
                            shall finally and conclusively be determined to be the amount stated in
                            the Average Monthly Revenue 
                            Statement.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            During the Earn-Out Period, the Buyer will keep up to
                            date an, on reasonable notice to the Buyer, make available to Media
                            Corp and its representatives the books and records relating to the
                            Business during normal office hours and co-operate with them with
                            regards to the review of the Earn-Out Accounts and Average Monthly
                            Revenue Statement.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            If, within the period of 20 Business Days referred to in
                            paragraph  3(b), Media Corp notifies the
                            Buyer in writing that it do not accept the Average Monthly Revenue
                            Statement, Media Corp and the Buyer shall use all reasonable endeavours
                            to reach agreement as to the Average Monthly Revenue, and if the
                            parties reach agreement the relevant Average Monthly Revenue shall
                            finally and conclusively be determined to be the amount so
                            agreed.

                        

            

            
                	
                            
                            (e)

                        	
                            
                            If:

                        

            

            
                	
                             

                        	
                            
                            (iii)

                        	
                            
                            the Buyer shall fail to prepare the Average Monthly
                            Revenue Statement and deliver a copy of the same to Media Corp in
                            accordance with paragraph (a) above; or

                        

            

            
                	
                             

                        	
                            
                            (iv)

                        	
                            
                            Media Corp and the Buyer are unable to reach agreement
                            in accordance with paragraph 3(d) within a further period of 10
                            Business Days (or such later date as may be agreed between Media Corp
                            and the Buyer)

                        

            

            
            the matter shall be referred for final settlement to an independent
            chartered accountant (the “Independent
            Accountant”) nominated jointly by Media Corp
            and the Buyer, or failing such nomination within 10 Business Days,
            nominated at the request of either of them by the President for the time being of the
            Institute of Chartered Accountants in England and Wales or any successor
            institute.

            
                	
                            
                            (f)

                        	
                            
                            The Independent Accountant shall be instructed to
                            determine the Average Monthly Revenue having regard to the provisions
                            of this Schedule and to report within 28 days (or such longer period as
                            the Independent Accountant shall require) of his appointment and shall
                            act as an expert and not as an arbitrator. The decision of the
                            Independent Accountant in relation to the amount of the Average Monthly
                            Revenue

                        

            

            
            40

            
            

            
                

            

            
                
                Schedule 6 : Determination of the Average Monthly
                Revenue 

            

            
                	
                             

                        	
                        shall (in the absence of fraud or manifest error) be final
                        and binding on the parties. The parties shall bear the costs of the
                        Independent Accountant in such proportions as he determines.
	
                            
                            (g)

                        	
                            
                            The Buyer and Media Corp shall:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            disclose (and, if appropriate, the Independent
                            Accountant) all relevant facts and information (or, if appropriate, the
                            Independent Accountant) necessary for the proper determination of the
                            Average Monthly Revenue; and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            promptly give (and, if appropriate, give to any
                            Independent Accountant) all information, assistance and access to books
                            of account, documents, files and papers which the other party may
                            reasonably require.

                        

            

            
                	
                            
                            (h)

                        	
                            
                            Notwithstanding any other provision contained in this
                            Agreement, all payments of Additional Consideration shall be made by
                            the Buyer in full without set off, counterclaim or similar
                            proceedings.

                        

            

            
                	
                            
                            4

                        	
                            
                            Maintenance of InterCasino, Parbet or PlayboyGaming
                            embedded link on www.casino.co.uk

                        

            

            
                	
                            
                            (a)

                        	
                            
                            One of Intercasino, Parbet or PlayboyGaming (at the
                            Buyer’s option) will have a permanent link at the top of the
                            Gambling.com feed. This will be hardcoded onto the site but made to
                            look like it is part of the listings. 

                        

            

            
                	
                            
                            (b)

                        	
                            
                            One of Intercasino, Parbet or PlayboyGaming (at the
                            Buyer’s option) will also receive 50 per cent. of the Top Banner
                            inventory per month. The Intercasino, Parbet or PlayboyGaming
                            banners will be served in rotation with other
                            advertisers.

                        

            

            
                
                41

            

            
            

            
                

            

            
            Schedule 7 : Transitional Services for
            Casino.co.uk

            
            Schedule 7

            
            Transitional Services for Casino.co.uk

            
                	
                            
                            1

                        	
                            
                            Fully train Buyer’s staff on all software
                            programs used to operate the portals.

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Campaign Management

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Content Management

                        

            

            
                	
                            
                            (c)

                        	
                            
                            Ad Campaign Reports

                        

            

            
                	
                            
                            (d)

                        	
                            
                            Affiliate Programs

                        

            

            
                	
                            
                            (e)

                        	
                            
                            Newsletter Programs

                        

            

            
                	
                            
                            (f)

                        	
                            
                            Web traffic reports

                        

            

            
                	
                            
                            (g)

                        	
                            
                            Tracking Marketing

                        

            

            
                	
                            
                            2

                        	
                            
                            Overall Site Management - under direction of the
                            Buyer:

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Portal Content

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            Maintain relationships with contributors

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            Continue to perform all daily/weekly updates

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Hosting on servers operated by the Sellers until the
                            Buyer decides to transfer to its own servers:

                        

            

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            The Portals; and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            The Portal Management Software.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            Maintain and repair (as necessary) the Portal Management
                            Software.

                        

            

            
                	
                            
                            3

                        	
                            
                            Ad Sales - under direction of the
                            Buyer:

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Renew current advertisers

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Maintain contact with all clients (past and
                            present)

                        

            

            
                	
                            
                            (c)

                        	
                            
                            Expand current base of clients

                        

            

            
                	
                            
                            4

                        	
                            
                            Future Development - Devise and recommend to the
                            Buyer:

                        

            

            
                	
                            
                            (a)

                        	
                            
                            New content and features within the portals.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            New means of capturing visitor data to add to
                            database.

                        

            

            
                	
                            
                            (c)

                        	
                            
                            Web development opportunities.

                        

            

            
                
                42

            

            
            

            
                

            

            
            Schedule 7 : Transitional Services for
            Casino.co.uk

            
                	
                            
                            5

                        	
                            
                            Marketing - to provide to the portals using the
                            services of Sellers online media company and gambling.com
                            division

                        

            

            
                	
                            
                            (a)

                        	
                            
                            Online media inventory at the same volume of impressions
                            as in the average month in the 12 months preceding.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Full page advertisements for each of casino.co.uk,
                            findpoker.co.uk, findpoker.com findpoker.eu, got2bet.co.uk and
                            got2bet.com, in each issue of gambling.com magazine printed magazine,
                            for the 12 month period following Completion.

                        

            

            
                	
                            
                            6

                        	
                            
                            To allow the purchaser on behalf of casino.co.uk or
                            findpoker.com to send a printed mail piece or an email to the
                            circulation database of gambling.com. The Buyer will pay the print and
                            postage cost of the mail piece and email creation.

                        

            

            
                	
                            
                            7

                        	
                            
                            Call Centre

                        

            

            
                	
                            
                            (a)

                        	
                            
                            To provide a telephone service for consumers of
                            the white labelled instant and skill-based games, should they require
                            technical support.

                        

            

            
                	
                            
                            8

                        	
                            
                            Provision of a Portal Management Software “user
                            book” by the Sellers

                        

            

            
                
                43

            

            
            

            
                

            

            
            Schedule 8 : Portal Management
            Software

            
            Schedule 8

            
            Portal Management Software

            
                	
                            
                            1

                        	
                            
                            Casino Index

                        

            

            
                 
            

            
                	
                            
                            (a)

                        	
                            
                            Casino Information

                        

            

            
                 
            

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Page displaying information about a particular
                            advertisers site.

                        

            

            
            Casino name and Logo

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Displayed on the advertisers casino specific page on the
                            site and any Play For Real categories

                        

            

            
            The URL Display
            field enables a neat url to be used for display only.

            
            The Tracking url
            for campaign tracking purposes.

            
            Logo Picture- 90x60 Advertisers
            logo.

            
            Logo tracking URL for tracking the logo
            separately

            
            Casino Operator and Support

            
            Details of an advertisers operator information,licence and email
            support.

            
            Software

            
            Advertisers must specify whether their casino is:

            
            Download

            
            Non-download

            
            Payment Options

            
            List of Payment Methods offered by the advertiser.

            
            Descriptions

            
            Short Description: Max 350 characters including spaces

            
            Long Description Max 800 characters including spaces.

            
                	
                            
                            (b)

                        	
                            
                            Promotions

                        

            

            
            Casino Index

            
            The Casino Index area is divided into 6 sections.

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Promotion

                        

            

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Competitions,

                        

            

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Play in Pounds,

                        

            

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Multi Lingual,

                        

            

            
            44

            
            

            
                

            

            
                Schedule 8 : Portal Management Software
            

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Deposit Bonus

                        

            

            
                	
                             

                        	
                            
                            •

                        	
                            
                            Non Cash Prizes.

                        

            

            
            A casino may provide up to 30 words in each section.

            
                 
            

            
                	
                            
                            2

                        	
                            
                            Account Details

                        

            

            
            Account Balance

            
            Displays advertisers campaign balance and the last 5
            transactions

            
            Contact

            
            Contact details of the advertiser.

            
                 
            

            
                	
                            
                            3

                        	
                            
                            Games

                        

            

            
                 
            

            
            List of Games provided by advertiser.

            
            Adding a game

            
            Click ‘Add’ button to list a game.

            
            Removing a game

            
            Press ‘Remove’ next to the name of the game that is no
            longer available.

            
            Special Offers

            
            Max 18 characters of text including spaces and a link.

            
                 
            

            
                	
                            
                            4

                        	
                            
                            Banners

                        

            

            
            Option to upload 10 banners per banner area. Banners are served on equal
            rotation.

            
            Flash Ads

            
            The same rules and restrictions apply on Flash ads as on the regular
            image ads, however several other rules unique for only flash ads apply:

            
                	
                            
                            (a)

                        	
                            
                            For the banner to function properly you need to
                            implement a clickTAG variable that is fetched from the system URL. This
                            clickTAG is defined inside the Flash ad when a user clicks on a button
                            or the entire banner. Explanation on how to do this is available
                            below.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            The clickTAG must be set to open in a new window.
                            (target = _new)

                        

            

            
                	
                            
                            (c)

                        	
                            
                            Event sounds are allowed, but notice it must be when the
                            user interacts with the banner, moving the mouse cursor over it,
                            clicking a button or a similar action to this. Sounds upon loading the
                            ad or sounds occurring after time delay or anything that does occur
                            without the visitors interactions is not allowed.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            No extreme blinking backgrounds/texts/objects to get the
                            users attention.

                        

            

            
                	
                            
                            (e)

                        	
                            
                            The Flash ad must use a minimum of Flash version
                            4.

                        

            

            
            45

            
            

            
                

            

            
                Schedule 8 : Portal Management Software
            

            
                	
                            
                            (f)

                        	
                            
                            FSCommands are not supported.

                        

            

            
                	
                            
                            (g)

                        	
                            
                            Max 12 frames per second.

                        

            

            
            Creating a Flash Ad

            
            In order for the clicks to be recorded on flash banners a clickTAG needs
            to be inserted.

            
            Creating a clickTAG

            
                	
                            
                            (a)

                        	
                            
                            Make a button, either a transparent one over the entire
                            ad or a specific one of your choice.

                        

            

            
                	
                            
                            (b)

                        	
                            
                            Insert the following actionscript:

                        

            

            
                	
                             

                        	
                            on (release) {

                        

            

            
                	
                             

                        	
                            getURL(clickTAG,
                            “_blank”);

                        

            

            
                	
                             

                        	
                            }

                        

            

            
            This actionscript means that when a visitor clicks the banner the
            variable “clickTAG” will be fetched from the URL loading the flash ad and
            open it in a new window.

            
                	
                            
                            (c)

                        	
                            
                            Test the movie with the code above, but make sure you do
                            it on a server since it’s not for certain it will work
                            locally.

                        

            

            
                	
                            
                            (d)

                        	
                            
                            Submit for approval.

                        

            

            
            Campaign Rules

            
            There are several rules that apply on ads on the Casino.co.uk Network.
            They are as follows:

            
                	
                            
                            (e)

                        	
                            
                            The banner must stand out, it can not melt into the
                            design the page it’s viewed on.

                        

            

            
                	
                            
                            (f)

                        	
                            
                            No offensive material such as pornography, racial or
                            similar.

                        

            

            
                	
                            
                            (g)

                        	
                            
                            GIF, JPEG, Flash and 3rd party ad code is
                            acceptable

                        

            

            
                	
                            
                            (h)

                        	
                            
                            Casino.co.uk reserves the right to disable any campaign
                            or aspect of campaign without notice.

                        

            

            
            Editing a Campaign

            
            

            
            To upload a new banner click on the “Banner” link, click
            Upload and then browse for the image. Click Save.

            
            If you are uploading a flash image it is advised that you also upload an
            alternative gif for those users that do not have flash enabled.

            
            Set the banner to Active and it will be live on the Casino.co.uk site
            within a few minutes.

            
            Ad Sizes

            
            Banners should not exceed the file size limit.

            
                	
                            
                            300x150

                        

            

            
            46

            
            

            
                

            

            

            
                Schedule 8 : Portal Management Software
            

            
                	
                            
                            Size in pixels:

                        	
                            
                            300 wide, 150 high

                        
	
                            
                            Maximum file size:

                        	
                            
                            25 Kb

                        

            

            
                

                

            

            
             

            
                	
                            
                            468x60

                        
	
                            
                            Size in pixels:

                        	
                            
                            468 wide, 60 high

                        
	
                            
                            Maximum file size:

                        	
                            
                            15 Kb

                        

            

            
             

            
                	
                            
                            125x200

                        
	
                            
                            Size in pixels:

                        	
                            
                            125 wide, 200 high

                        
	
                            
                            Maximum file size:

                        	
                            
                            16kb

                        

            

            
                 
            

            
                	
                            
                            6

                        	
                            
                            Specials

                        

            

            
            Up to 30 words max.

            
                	
                            
                            7

                        	
                            
                            Screenshots

                        

            

            
            Images required:

            
            1x (300x225) lobby image

            
            2X (147x111) games images.

            
                 
            

            
                	
                            
                            8

                        	
                            
                            Press Room

                        

            

            
            For an advertisers press releases.

            
            

            
            Adding a Press Release

            
            Click the ‘New’ button on the Press Room page.

            
            Paste Text

            
            Press Save

            
            Editing a Press Release

            
            Click on the title in the Press Room & edit text.

            
            Press Save

            
            Removing a Press Release

            
            Select Disabled in the editor screen.

            
            47

            
            

            
                

            

            
                Schedule 8 : Portal Management Software
            

            
                	
                            
                            9

                        	
                            
                            Statistics

                        

            

            
            Choose either to view your Banner or Index statistics. Select the areas
            that you wish to be included in the results pages, select the date range, then click on
            Generate Report.

            
            Definitions

            
            Banners: All images that are currently live
            on the Casino.co.uk site.

            
            Index: The text areas of the site including
            full index, casino specific page and offers listing.

            
            Impressions: Impressions are the number of
            times a banner has been shown

            
            Clicks: The number of times a visitor has
            clicked the banner/copy

            
            Click Rate: The click rate (CTR) described
            in percent how many times the ad has been clicked on in proportion to how many times it
            has been viewed. Formula: (clicks/impressions) x 100= CTR

            
            48

            
            

            
                

            

            
             

            
            EXECUTION PAGE

            
                	
                            
                            EXECUTED and DELIVERED as a DEED by
                            MEDIA CORPORATION PLC
                            acting by two directors or one director and the company
                            secretary

                            
                             

                        	
                            
                            )

                            )

                            
                            )

                            
                             

                            
                            Director

                            
                             

                            
                             

                            
                            Director/Secretary

                        

            

            
             

            
             

            
                	
                            
                            EXECUTED and DELIVERED as a DEED by
                            XWORKS (UK) LIMITED acting
                            by two directors or one director and the company secretary

                            
                             

                        	
                            
                            )

                            )

                            
                            )

                            
                             

                            
                            Director

                            
                             

                            
                             

                            
                            Director/Secretary

                        

            

            
             

            
             

            
                	
                            
                            EXECUTED and DELIVERED as a DEED by
                            GAMING PORTALS LIMITED
                            acting by two directors or one director and the company
                            secretary

                            
                             

                        	
                            
                            )

                            )

                            
                            )

                            
                            )

                            
                             

                            
                            Director

                            
                             

                            
                             

                            
                            Director/Secretary

                        

            

            
            

            
                

            

            
             

            
                	
                            
                            EXECUTED and DELIVERED as a DEED by
                            JUSTIN DRUMMOND in his
                            capacity as Covenantor in the presence of:

                            
                             

                            
                             

                            
                             

                            
                            Name of Witness:

                            
                             

                            
                            Signature of Witness:

                            
                             

                            
                             

                            
                            Address:

                            
                             

                            
                            Occupation:

                            
                             

                        	
                            
                            )

                            )

                            
                             

                            
                             

                            
                             

                            
                             

                        

            

            
             

            
                	
                            
                            EXECUTED and DELIVERED as a DEED by
                            JASON DRUMMOND in his
                            capacity as Covenantor in the presence of:

                            
                             

                            
                             

                            
                             

                            
                            Name of Witness:

                            
                             

                            
                            Signature of Witness:

                            
                             

                            
                             

                            
                            Address:

                            
                             

                            
                            Occupation:

                            
                             

                        	
                            
                            )

                            )

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