Document:

EXHIBIT
        10.3

      

      [ENGLISH
        TRANSLATION]

      

      Machineries
        Transfer Agreement

      

        
          	
                  Seller:
                    Shanxi Suo’ang Biological Science and Technology Company
                    Limited

                	
                  (Party
                    A)

                
	
                  Buyer: HanZhongWeiDa
                    Commercial Company Limited 

                	
                  (Party
                    B)

                

        

      

      
 

      Due
        to
        change of main business of Party A, Party A sold its COPO resin production
        lines
        and
        degradable mulch production lines. Party A and Party B mutually agreed to
        transfer the production lines in accordance with the following
        terms.

      

      Item
        1:

      Party
        A
        agreed to transfer the COPO production line at a consideration of RMB520,000
        and
        the degradable mulch production line at a consideration of RMB180,000 to
        Party
        B.

      

      Item
        2:

      All
        the
        equipments and accessories in respect of the two production lines will be
        transferred to Party B.

      

      Item
        3:  

      Party
        B
        will pay all the consideration (RMB700,000) to Party A on or before January
        10,
        2007.

      

      Item
        4:

      Party
        A
        shall assist Party B for the transfer of ownership and B shall bear all the
        statutory expenses of the transfer of ownership.

      

      Item
        5:
  

      Party
        B
        shall bear all the loss.

      

      Item
        6:
        Conflict

      All
        conflicts during implement of this contract shall be solved through negotiation.
        If problems cannot be settled, two parties agree to take arbitration in the
        board of arbitration whereas apart from the terms in the course of arbitration,
        the remaining terms of agreement are still effective.

       

      Item
        7
        Completeness of terms of agreement

      Both
        parties have read and agreed the terms of agreement which will replace all
        the
        verbal and provisional agreements. 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Item
        8
        Amendment

      All
        amendment should be in written and by mutual agreements. The amendment will
        be
        the supplementary agreement of this agreement.

       

      Item
        9
        Heading

      The
        terms
        of the agreement should be read in accordance with the terms rather than
        the
        heading.

      

      Item
        10:
        Effective date 

      This
        contract shall be effective after each party’s signature. This contract is in
        two copies. Party A and party B hold one contract respectively. Each contract
        has the same legal effect with this contract.

      

      

      Party
        A:
        Shaanxi Suo’ang Biological Science & Technology Co., Ltd.

       

      Signature:
        /s/ Ren Baowen

       

      Date:
        January 10, 2007

      
 

      Party
        B:
        HanZhongWeiDa Commercial Company Limited 

      
Signature:
        /s/ Xuejin
        Wang

      
Date:
        January 10, 2007Unassociated Document

    

    

    

    

    

    

    

    

    Option
      Deed

     

    between

    

    Worldwide
      PE Patent Holdco Pty Limited

    

    (ACN
      117
      157 427)

    

    and

    

    AMI
      Australia Holdings Pty Limited

     

    (ACN
      095
      238
      645)

    and

    

    AMI
      Group Limited

     

    and

    

    Zascha
      Knochell, Drew Shardlow, Richard Mare and David McDonald

     

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    

    Contents

     

    

    
      	
              Clause

            	 	 
	
              number

            	
              Heading

            	
              Page

            
	 	 	 
	
              1.

            	
              Definitions
                and interpretation

            	
              2

            
	
              1.1

            	
              Definitions

            	
              2

            
	
              1.2

            	
              Interpretation

            	
              6

            
	 	 	 
	
              2.

            	
              Grant
                of Call Option and Information Memorandum

            	
              7

            
	
              2.1

            	
              Call
                Option

            	
              7

            
	
              2.2

            	
              Information
                Memorandum

            	
              8

            
	 	 	 
	
              3.

            	
              Exercise
                of Call Option

            	
              8

            
	
              3.1

            	
              Exercise
                of the call option

            	
              8

            
	
              3.2

            	
              Extension
                of Exercise Period

            	
              9

            
	
              3.3

            	
              Usage
                of name AMI etc

            	
              9

            
	 	 	 
	
              4.

            	
              Completion

            	
              9

            
	
              4.1

            	
              Completion
                details

            	
              9

            
	
              4.2

            	
              Completion
                process

            	
              9

            
	
              4.3

            	
              Conditions
                of Completion

            	
              9

            
	 	 	 
	
              5.

            	
              Warranties

            	
              10

            
	
              5.1

            	
              Warranties
                by Worldwide

            	
              10

            
	
              5.2

            	
              No
                reliance on other matters

            	
              10

            
	
              5.3

            	
              Time
                limit for claims

            	
              10

            
	
              5.4

            	
              Maximum
                limit on Claims

            	
              10

            
	
              5.5

            	
              Limitation
                for future events

            	
              10

            
	
              5.6

            	
              Warranty
                and other claims connected to the Deed

            	
              11

            
	 	 	 
	
              6.

            	
              Undertakings
                not to compete

            	
              11

            
	
              6.1

            	
              General
                covenants

            	
              11

            
	
              6.2

            	
              Restraints
                fair and reasonable

            	
              12

            
	
              6.3

            	
              Exceptions

            	
              12

            
	
              6.4

            	
              Severability

            	
              12

            
	
              6.5

            	
              Injunction

            	
              12

            
	 	 	 
	
              7.

            	
              Intellectual
                Property

            	
              13

            
	
              7.1

            	
              AMI
                Australia and Worldwide property

            	
              13

            
	 	 	 
	
              8.

            	
              GST
                or VAT

            	
              13

            
	 	 	 
	
              9.

            	
              Confidentiality

            	
              13

            
	
              9.1

            	
              Provisions
                to remain confidential

            	
              13

            
	
              9.2

            	
              Exclusions

            	
              13

            
	 	 	 
	
              10.

            	
              Notices

            	
              14

            

    

    
      
         

      

      
        i

        
          

        

      

      
         

      

    

     

    

    
      	
              10.1

            	
              Requirements

            	
              14

            
	
              10.2

            	
              Receipt

            	
              14

            
	 	 	 
	
              11.

            	
              General
                provisions

            	
              15

            
	
              11.1

            	
              Entire
                agreement

            	
              15

            
	
              11.2

            	
              Further
                assurances

            	
              15

            
	
              11.3

            	
              Costs

            	
              15

            
	
              11.4

            	
              Assignment

            	
              15

            
	
              11.5

            	
              Invalid
                or unenforceable provisions

            	
              15

            
	
              11.6

            	
              No
                merger

            	
              16

            
	
              11.7

            	
              Waiver
                and exercise of rights

            	
              16

            
	
              11.8

            	
              Amendment

            	
              16

            
	
              11.9

            	
              Counterparts

            	
              16

            
	
              11.10

            	
              Governing
                law

            	
              16

            
	
              11.11

            	
              Jurisdiction

            	
              16

            
	 	 	 
	
              12.

            	
              Guarantee
                and indemnity

            	
              17

            
	
              12.1

            	
              Consideration

            	
              17

            
	
              12.2

            	
              Guarantee

            	
              17

            
	
              12.3

            	
              Non-compliance

            	
              17

            
	
              12.4

            	
              Indemnity

            	
              17

            
	
              12.5

            	
              Separate
                obligation

            	
              17

            
	
              12.6

            	
              Principal
                liability

            	
              17

            
	
              12.7

            	
              Waiver
                of rights

            	
              17

            
	
              12.8

            	
              Continuing
                indemnity

            	
              17

            
	
              12.9

            	
              Absolute
                obligation

            	
              18

            
	 	 	 
	
               

            	
              Annexure
                1

            	
              1

            
	
               

            	
              Warranties

            	
              1

            
	 	 	 
	
              1.

            	
              Corporate

            	
              1

            
	
              1.1

            	
              Authority

            	
              1

            
	
              1.2

            	
              Insolvency
                events

            	
              1

            
	 	 	 
	
              2.

            	
              General

            	
              2

            
	
              2.1

            	
              Benefit

            	
              2

            
	 	 	 
	
               

            	
              Annexure
                2

            	
              3

            
	 	 	 
	
               

            	
              Annexure
                3

            	
              6

            

    

    

    

    

    
      
         

      

      
        ii

        
          

        

      

      
         

        
          

        

      

    

    Option
      Deed

     

    

    
      	
              This
                Deed
                is
                dated  

            	
              April
                2007

            

    

    

    Between

    Worldwide
      PE Patent Holdco Pty Limited
      (ACN 117
      157 427) of Level 1, 204-218 Botany Road, Alexandria NSW 2015 (Worldwide);

     

    And

    

    AMI
      Australia Holdings Pty Limited
      (ACN 095
      238 645) of Level 1, 204-218 Botany Road, Alexandria NSW 2015 (AMI
      Australia);

     

    And

    

    AMI
      Group
      Limited
      of c/-
      143a woodland St Balgowlah, Sydney NSW 2093 (AMI
      UK);

     

    And

    

    Zascha
      Knochell, Drew Shardlow, Richard Mare and David McDonald
      of c/-
      143a woodland St Balgowlah, Sydney NSW 2093 (AMI
      UK Principals);

     

    Recitals

     

    
      	
              A.

            	
              AMI
                operates Australia's largest chain of specialist sexual dysfunction
                clinics. 

            

    

    

    
      	
              B.

            	
              Worldwide
                owns the international formulation rights and other rights associated
                with
                the AMI business.

            

    

    

    
      	
              C.

            	
              AMI
                UK has requested that Worldwide grant AMI UK an option to exclusively
                licence all
                of Worldwide’s intellectual property and systems in relation to erectile
                dysfunction and premature ejaculation, being all of the intellectual
                property and systems used in AMI Australia’s business, (Technology)
                for the United Kingdom (Territory)
                for a term of 5 years with 2 options to extend for 5 years each with
                the
                exception that this will only extend to IMT’s intellectual property where
                such intellectual property is sold to the public in Australia and
                where
                IMT continues to be part of the AMI Australia group on the basis
                set out
                in the Licence Agreement.

            

    

    

    
      	
              D.

            	
              The
                AMI UK Principals are the current directors and shareholders of AMI
                UK.

            

    

    

    
      	
              E.

            	
              Worldwide
                has agreed to grant AMI UK an option to exclusively licence its Technology
                in the Territory for a term of 5 years with 2 options to extend for
                5
                years each in accordance with the Licence Agreement on the basis
                set out
                in this Deed.

            

    

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    

    
      	
              F.

            	
              In
                consideration for AMI UK agreeing to enter into this Deed and pay
                the
                Initial Call Option Fee to Worldwide, AMI Australia has agreed to
                guarantee Worldwide’s obligations under this
                Deed.

            

    

    

    
      	
              G.

            	
              In
                consideration for Worldwide and AMI Australia agreeing to enter into
                this
                Deed, the AMI UK Principals have agreed to give certain covenants
                relating
                to confidentiality, restraints of trade and content of and indemnity
                in
                relation to any information memorandum issued by AMI UK pursuant
                to this
                Deed

            

    

    

    Operative
      provisions

    
      
        

      

    

    
      	
              1.

            	
              Definitions
                and interpretation

            

    

     

    
      	
              1.1

            	
              Definitions

            

    

     

    In
      this
      Deed, unless the context requires another meaning: 

     

    ASIC
      means
      the
      Australian Securities & Investments Commission;

    

    Business
      Day means
      a
      day on which banks are open for business in Sydney, New South Wales, Australia,
      excluding a Saturday or a Sunday or a public holiday;

     

    Call
      Option
      means
      the option granted in clause 2.1 to exclusively licence Worldwide’s Technology
      in the Territory for a term of 5 years with 2 options to extend for 5 years
      each
      in accordance with the Licence Agreement;

     

    Call
      Option Fees
      means
      the Initial Call Option Fee and the Further Call Option Fee;

     

    Call
      Option Notice
      means a
      notice substantially in the form set out in Annexure 2;

     

    Claim
      means
      any
      claim, cost, damages, debt, expense, Tax, Liability, loss, allegation, suit,
      action, demand, cause of action or proceeding of any kind made under or in
      connection with a matter irrespective of:

     

    
      	
              (a)

            	
              how
                or when it arises;

            

    

     

    
      	
              (b)

            	
              whether
                it is actual or contingent;

            

    

     

    
      	
              (c)

            	
              whether
                or not it is in respect of legal or other costs, damages, expenses,
                fees
                or losses;

            

    

     

    
      	
              (d)

            	
              whether
                or not it is in respect of a breach of trust or of a fiduciary or
                other
                duty or obligation; and

            

    

     

    
      	
              (e)

            	
              whether
                or not it arises at law or in any other
                way;

            

    

     

    Completion means
      completion of the grant of the Licence Agreement in accordance with clause
      4;

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    

     

    Completion
      Date
      means 5
      Business Days after the date AMI UK serves the Call Option Notice and the
      Upfront Licence Fee on Worldwide;

     

    Confidential
      Information
      means
      information which relates to the business and affairs (financial and otherwise)
      of the Disclosing Party (including information which is in oral, visual or
      written form or is recorded in any other medium), and includes:

    

      
        	
                (a)

              	
                business
                  plans and forecasts;

              

      

      

      
        	
                (b)

              	
                financial
                  and marketing information of the Disclosing
                  Party;

              

      

      

      
        	
                (c)

              	
                know-how,
                  trade secrets, ideas, concepts, technical and operational information,
                  arising or used by the Disclosing Party in relation to its
                  business;

              

      

      

      
        	
                (d)

              	
                the
                  terms upon which the Disclosing Party contracts with or proposes
                  to
                  contract with employees, contractors, clients and
                  suppliers;

              

      

      

      
        	
                (e)

              	
                information
                  concerning the affairs or property of the Disclosing Party's business
                  or
                  any current or proposed business, property or transaction in which
                  the
                  Disclosing Party may be or may have been concerned or
                  interested;

              

      

      

      
        	
                (f)

              	
                the
                  names and addresses and other personal details of current and proposed
                  employees, contractors, clients and suppliers of the Disclosing
                  Party;

              

      

      

      
        	
                (g)

              	
                information
                  which by its nature or by the circumstances of its disclosure,
                  is or could
                  reasonably be expected to be regarded as confidential to the Disclosing
                  Party or any third party with whose consent or approval the Disclosing
                  Party uses that information;

              

      

      

      
        	
                (h)

              	
                any
                  discussions or negotiations relating to this Deed;
                  and

              

      

      

      
        	(i)	
                any
                  documents, reports or analyses created in relation to this
                  Deed;

              

      

    

     

    but
      does
      not include: 

    

    
      	 	
              (i)

            	
              any
                information which is or becomes part of the public domain other than
                by
                reason of a breach of this Deed; or

            

    

    

    
      	 	
              (ii)

            	
              information
                the disclosure of which is compelled by any court, tribunal, commission
                or
                other competent judicial or administrative body;
                or

            

    

    

    
      	 	
              (iii)

            	
              information
                which the Receiving Party can establish was known by it before it
                was
                disclosed to it by the other party;

            

    

    

    Controller
      has
      the
      meaning given to "controller" in section 9 of the Corporations
      Law Act
      2001;

     

    Disclosing
      Party
      means
      the party disclosing Confidential Information to the other party or parties;
      

    

    Dollar
      and
      $ means
      the
      lawful currency of Australia;

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    

     

    Exercise
      Period
      means,
      subject to clause 3.2, the period commencing on the date of this Deed and ending
      on the date which is 4 months after the date of this Deed;

     

    Further
      Call Option Fee
      means a
      further US$50,000;

     

    Government
      Agency
      means:

     

    
      	
              (a)

            	
              a
                government, whether foreign, federal, state, territorial or
                local;

            

    

     

    
      	
              (b)

            	
              a
                department, office or minister of a government acting in that capacity;
                or

            

    

     

    
      	
              (c)

            	
              a
                commission, delegate, instrumentality, agency, board, or other government,
                semi-government, judicial, administrative, monetary or fiscal authority,
                whether statutory or not;

            

    

     

    IMT
      means
      Intelligent Medical Technologies Pty Limited (ACN 107 047 496);

     

    Initial
      Call Option Fee
      means
      US$50,000;

     

    Insolvency
      Event
      means
      for a party, the happening of one or more of the following events:

     

    
      	
              (a)

            	
              except
                for the purpose of a solvent reconstruction or amalgamation which
                has the
                prior written consent of the other
                party:

            

    

     

    
      	 	
              (i)

            	
              process
                is filed in a court seeking an order that it be wound up or that
                a
                Controller be appointed to it or any of its assets, unless the application
                is withdrawn, struck out, stayed or dismissed within 28 days of it
                being
                filed; or

            

    

     

    
      	 	
              (ii)

            	
              an
                order is made that it be wound up or that a Controller be appointed
                to it
                or any of its assets; or

            

    

     

    
      	 	
              (iii)

            	
              a
                resolution that it be wound up is
                passed;

            

    

     

    
      	
              (b)

            	
              a
                liquidator, provisional liquidator, Controller or any similar official
                is
                appointed to, or takes possession or control of, all or any of its
                assets
                or undertaking;

            

    

     

    
      	
              (c)

            	
              an
                administrator is appointed to it or a resolution that an administrator
                be
                appointed to it is passed;

            

    

     

    
      	
              (d)

            	
              it
                enters into, or resolves to enter into, an arrangement, compromise
                or
                composition with any of, or any class of, its creditors or shareholders,
                or an assignment for the benefit of any of, or any class of, its
                creditors, or process is filed in a court seeking approval of any
                such
                arrangement, compromise or
                composition;

            

    

     

    
      	
              (e)

            	
              a
                reorganisation, moratorium, deed of company arrangement or other
                administration involving one or more of its creditors is
                effected;

            

    

     

    
      	
              (f)

            	
              any
                action is taken by the ASIC with a view to cancelling its registration
                or
                to dissolving it;

            

    

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    

     

    
      	
              (g)

            	
              it
                is insolvent within the meaning of Section 95A of the Corporations
                Act 2001,
                as disclosed in its Accounts or otherwise, states that it is unable
                to pay
                its debts or it is presumed to be insolvent under any applicable
                law;

            

    

     

    
      	
              (h)

            	
              as
                a result of the operation of section 459F(1) of the Corporations
                Act 2001,
                it
                is taken to have failed to comply with a statutory
                demand;

            

    

     

    
      	
              (i)

            	
              it
                stops or suspends or threatens to stop or
                suspend:

            

    

     

    
      	 	
              (i)

            	
              the
                payment of all or a class of its debts;
                or

            

    

     

    
      	 	
              (ii)

            	
              the
                conduct of all or a substantial part of its business or threatens
                to do
                so;

            

    

     

    
      	
              (j)

            	
              it
                is bankrupt or becomes subject to any form of trusteeship or external
                administration; or

            

    

     

    
      	
              (k)

            	
              anything
                having a substantially similar effect to any of the events specified
                in
                the preceding paragraphs happens to it under the law of any
                jurisdiction.

            

    

     

    Intellectual
      Property Rights means
      all
      rights (including without limitation moral rights) in or to any patent,
      copyright, database rights, registered design or other design right, utility
      model, trade mark (whether registered or not and including any rights in get
      up
      or trade dress), brand name, service mark, trade name, eligible layout right,
      chip topography right and any other rights of a proprietary nature in or to
      the
      results of intellectual activity in the industrial, commercial, scientific,
      literary or artistic fields, whether registrable or not and wherever existing
      in
      the world, including all rights in or to renewals, extensions and revivals
      of,
      and all rights to apply for, any of the foregoing rights;

     

    Liability means
      any
      liability, whether actual or contingent, present or future, quantified or
      unquantified;

    

    Licence
      Agreement means
      a
      licence agreement in the form attached as Annexure 3;

     

    Receiving
      Party
      means
      the party receiving the other party's Confidential Information; 

    

    Related
      Bodies Corporate
      has the
      meaning ascribed to it in the Corporations
      Act 2001;

     

    Security
      Interest means
      any
      mortgage, charge, bill of sale, pledge, deposit, lien, encumbrance,
      hypothecation, arrangement for the retention of title, and any other right,
      interest, power or arrangement of any nature having the purpose or effect of
      providing security for, or otherwise protecting against default in respect
      of,
      the obligations of any person;

     

    Tax means
      a
      tax (including GST), levy, charge, impost, deduction, withholding or duty of
      any
      nature (including stamp and transaction duty) at any time: 

     

    
      	
              (a)

            	
              imposed
                or levied by any Government Agency; or

            

    

     

    
      	
              (b)

            	
              required
                to be remitted to, or collected, withheld or assessed by, any Government
                Agency; and any related interest, expense, fine, penalty or other
                charge
                on those amounts;

            

    

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    

     

    Technology
      has
      the
      meaning ascribed to it in recital C;

     

    Territory
      has
      the
      meaning ascribed to it in recital C;

     

    Third
      Party Interest means
      any
      Security Interest, lease, option, voting arrangement, easement, covenant,
      notation, restriction, interest under any agreement, interest under any trust,
      or other right, equity, entitlement or other interest of any nature held by
      a
      third party; 

    

    Upfront
      Licence Fee
      means an
      amount of US$1 million less any Call Option Fees paid to Worldwide in accordance
      with this Deed (ie if the Further Option Fee has been paid this will be
      US$900,000 and if it has not been paid it will be US$950,000); and

     

    Warranties means
      the
      warranties and representations set out in Annexure 1 and Warranty means
      any
      one of them.

    

    
      	
              1.2

            	
              Interpretation

            

    

     

    In
      this
      Deed:

     

    
      	
              (a)

            	
              unless
                the context requires another meaning, a
                reference:

            

    

    

      
        	 	
                (i)

              	
                to
                  the singular includes the plural and vice
                  versa;

              

      

       

      
        	 	
                (ii)

              	
                to
                  a gender includes all genders;

              

      

       

      
        	 	
                (iii)

              	
                to
                  a document (including this Deed) is a reference to that document
                  (including any Schedules and Annexures) as amended, consolidated,
                  supplemented, novated or replaced;

              

      

       

      
        	 	
                (iv)

              	
                to
                  an agreement includes any undertaking, representation, deed, agreement
                  or
                  legally enforceable arrangement or understanding whether written
                  or
                  not;

              

      

       

      
        	 	
                (v)

              	
                to
                  a party means a party to this Deed;

              

      

       

      
        	 	
                (vi)

              	
                to
                  an item, Recital, clause, Schedule or Annexure is to an item, Recital,
                  clause, Schedule or Annexure of or to this
                  Deed;

              

      

       

      
        	 	
                (vii)

              	
                to
                  a notice means a notice, approval, demand, request, nomination
                  or other
                  communication given by one party to another under or in connection
                  with
                  this Deed; 

              

      

       

      
        	 	
                (viii)

              	
                to
                  a person (including a party)
                  includes:

              

      

       

    

    
      	 	
              (A)

            	
              an
                individual, company, other body corporate, association, partnership,
                firm,
                joint venture, trust or Government Agency;
                and

            

    

     

    
      	 	
              (B)

            	
              the
                person's successors, permitted assigns, substitutes, executors and
                administrators; and

            

    

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    

     

    
      	
            	(ix)	
              to
                a law: 

            

    

     

    
      	 	
              (A)

            	
              includes
                a reference to any legislation, treaty, judgment, rule of common
                law or
                equity or rule of any applicable stock exchange; and
                

            

    

     

    
      	 	
              (B)

            	
              is
                a reference to that law as amended, consolidated, supplemented or
                replaced; and

            

    

     

    
      	 	
              (C)

            	
              includes
                a reference to any regulation, rule, statutory instrument, by-law
                or other
                subordinate legislation made under that
                law;

            

    

     

    
      	
            	(x)	
              to
                proceedings includes litigation, arbitration and
                investigation;

            

    

     

    
      	
            	(xi)	
              to
                a judgement includes an order, injunction, decree, determination
                or award
                of any court or tribunal;

            

    

     

    
      	
            	(xii)	
              to
                time is to Sydney time;

            

    

     

    
      	
            	(xiii)	
              the
                word including or includes means including, but not limited to, or
                includes, without limitation.

            

    

     

    
      	
              (b)

            	
              Where
                a word or phrase is defined, its other grammatical forms have a
                corresponding meaning.

            

    

     

    
      	
              (c)

            	
              Headings
                are for convenience only and do not affect
                interpretation.

            

    

     

    
      	
              (d)

            	
              If
                a payment or other act must (but for this clause) be made or done
                on a day
                that is not a Business Day in the country in which the payment is
                to be
                made or the act done, then it must be made or done on the next Business
                Day.

            

    

     

    
      	
              (e)

            	
              If
                a period occurs from, after or before a day or the day of an act
                or event,
                it excludes that day.

            

    

     

    
      	
              (f)

            	
              This
                Deed may not be construed adversely to a party only because that
                party was
                responsible for preparing it. 

            

    

     

    
      	
              (g)

            	
              A
                representation, covenant or warranty given by or on behalf of 2 or
                more
                persons, binds those parties jointly and
                severally.

            

    

     

    
      	
              (h)

            	
              A
                representation, covenant or warranty given for the benefit of 2 or
                more
                parties, is for the benefit of those parties jointly and
                severally.

            

    

     

    
      
        

      

    

    
      	
              2.

            	
              Grant
                of Call Option
                and Information Memorandum

            

    

     

    
      	
              2.1

            	
              Call
                Option

            

    

     

    In
      consideration of AMI UK paying the Initial Call Option Fee to Worldwide,
      Worldwide grants to AMI UK the option to be granted the Licence Agreement on
      the
      terms set out in this Deed free from any Security Interest or Third Party
      Interest. AMI UK acknowledges and agrees that the Initial Call Option Fee is
      non-refundable and will become the absolute property of Worldwide upon payment
      by AMI UK.

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    

    

    
      	
              2.2

            	
              Information
                Memorandum

            

    

     

    Worldwide
      and AMI Australia acknowledge that AMI UK and the AMI UK Principals intend
      to
      prepare and issue an information memorandum to raise funds to exercise the
      Call
      Option and establish the AMI UK business. Worldwide and AMI Australia agree
      that
      AMI UK and the AMI UK Principals may include a summary of this Deed and the
      Licence Agreement in their information memorandum subject to the following
      conditions:

    

    
      	
              (a)

            	
              the
                information memorandum may only be issued to professional investors
                and
                may not be issued to retail investors;

            

    

     

    
      	
              (b)

            	
              AMI
                UK and the AMI UK Principals must obtain the prior written consent
                of
                Worldwide and AMI Australia to the final form of the information
                memorandum, which must include standard disclaimers in a form reasonably
                satisfactory to Worldwide and AMI Australia and which must clearly
                state
                that neither Worldwide nor AMI Australia have prepared or are responsible
                for the contents of the information memorandum;

            

    

     

    
      	
              (c)

            	
              AMI
                UK and the AMI UK Principals must indemnify Worldwide and AMI Australia
                for any Liability or Claim which Worldwide or AMI Australia may suffer
                or
                incur in connection with the issue of the information memorandum
                including
                without limitation any legal expenses on a solicitor and own client
                basis;

            

    

     

    
      	
              (d)

            	
              if
                Worldwide or AMI Australia subsequently become aware of an inaccuracy
                in
                the contents of the information memorandum, AMI UK and the AMI UK
                Principals agree that they will make any changes reasonably required
                by
                Worldwide or AMI Australia to correct such inaccuracy;
                and

            

    

     

    
      	
              (e)

            	
              AMI
                UK and the AMI UK Principals agree that they will require any party
                they
                wish to issue a copy of the information memorandum to sign a
                confidentiality deed in favour of Worldwide and AMI Australia in
                a form
                reasonably required by Worldwide and AMI
                Australia.

            

    

     

    
      
        

      

    

    
      	
              3.

            	
              Exercise
                of Call Option

            

    

     

    
      	
              3.1

            	
              Exercise
                of the call option

            

    

     

    AMI
      UK
      may exercise the Call Option at any time during the Exercise Period (in respect
      of which time will be of the essence) by sending to Worldwide a duly completed
      Call Option Notice signed by AMI UK together with a bank cheque for the Upfront
      Licence Fee. If the Call Option is not exercised within the Exercise Period
      then
      this Deed will be terminated and neither party will have any further liability
      to the other with the exception that AMI UK and the AMI UK Principals will
      be
      bound by the confidentiality, intellectual property and restraint clauses of
      this Deed.

     

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

    

     

    
      	
              3.2

            	
              Extension
                of Exercise Period

            

    

     

    AMI
      UK
      may extend the Exercise Period on one occasion by a further 2 months by sending
      a written notice to Worldwide together with the Further Call Option Fee prior
      to
      the expiry of the Exercise Period (in respect of which time will be of the
      essence). AMI UK acknowledges and agrees that the Initial Call Option Fee is
      non-refundable and is the absolute property of Worldwide.

     

    
      	
              3.3

            	
              Usage
                of name AMI etc

            

    

     

    AMI
      UK
      and the AMI UK Principals acknowledge that AMI UK is presently using the mark
      “AMI” as a bare licensee of Worldwide which licence may be terminated by
      Worldwide with immediate effect and without payment of any compensation by
      giving AMI UK written notice at any time. AMI UK and the AMI UK Principals
      agree
      that AMI UK will cease to use the mark “AMI” if any such notice is given and
      they further agree that in the event the Call Option is not exercised AMI
      Australia will have ownership of and the right to use all material developed
      by
      AMI UK in relation to the UK market some of which they acknowledge and agree
      has
      been sourced from Worldwide.

     

      
        

      

    

    
      	
              4.

            	
              Completion

            

    

     

    
      	
              4.1

            	
              Completion
                details

            

    

     

    Completion
      will occur on the Completion Date at 2 pm at AMI Australia’s head
      office.

    

    
      	
              4.2

            	
              Completion
                process

            

    

     

    At
      Completion:

    

    
      	
              (a)

            	
              Worldwide
                must deliver to AMI UK a Licence Agreement duly signed by it and
                by AMI
                Australia; and

            

    

     

    
      	
              (b)

            	
              AMI
                UK must deliver to Worldwide a Licence Agreement duly signed by it
                and by
                the AMI UK Principals.

            

    

     

    
      	
              4.3

            	
              Conditions
                of Completion

            

    

     

    Completion
      is conditional on compliance by Worldwide and AMI UK with all of their
      respective obligations under this clause 4. For the avoidance of doubt, this
      means that if a party is not ready, willing and able to comply with all of
      its
      obligations under this clause 4 on the Completion Date, the other party is
      under
      no obligation to deliver any documents or other items referred to in clause
      4.2
      and may at its option:

    

    
      	
              (a)

            	
              defer
                Completion for up to 14 days after the Completion Date (in which
                case the
                provisions of this clause 4.3 will apply to the deferred
                Completion);

            

    

     

    
      	
              (b)

            	
              proceed
                to Completion so far as is practical without affecting its rights
                under
                this Deed; or

            

    

     

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

    

     

    
      	
              (c)

            	
              terminate
                this Deed by notice to the non-complying
                party.

            

    

     

    
      

    

    
      	
              5.

            	
              Warranties

            

    

     

    
      	
              5.1

            	
              Warranties
                by Worldwide

            

    

     

    Worldwide
      and AMI Australia represent and warrant to AMI UK that to the best of their
      knowledge and belief each statement contained in Annexure 1 is true, accurate
      and not misleading as at the date of this Deed.

    

    
      	
              5.2

            	
              No
                reliance on other matters

            

    

     

    AMI
      UK
      and the AMI UK Principals acknowledge that, except for the Warranties, they
      have
      not relied on any information, representations or warranties (written or oral)
      supplied or given by or on behalf of Worldwide or AMI Australia or any of their
      directors, officers, employees or agents.

    

    
      	
              5.3

            	
              Time
                limit for claims

            

    

     

    AMI
      UK
      and the AMI UK Principals acknowledge and agree that any Liability of Worldwide
      or AMI Australia under the Warranties will cease 1 year after the date of this
      Deed, except for matters which have been the subject of a bona fide written
      claim made by AMI UK to Worldwide and AMI Australia before that date and about
      which legal proceedings are commenced with a Court of competent jurisdiction
      within 6 months after the end of that 1 year.

    

    
      	
              5.4

            	
              Maximum
                limit on Claims

            

    

     

    AMI
      UK
      and the AMI UK Principals acknowledge and agree that Worldwide’s and AMI
      Australia’s maximum Liability to AMI UK and the AMI UK Principals for all
      breaches of this Deed (including, without limitation, liability in relation
      to a
      Warranty) is the Upfront Licence Fee.

    

    
      	
              5.5

            	
              Limitation
                for future events

            

    

     

    AMI
      UK
      and the AMI UK Principals acknowledge and agree that neither Worldwide nor
      AMI
      Australia are liable to AMI UK or the AMI UK Principals for any Claim which
      would not have arisen but for any loss attributable to:

    

    
      	
              (a)

            	
              anything
                done or not done after the date of this Deed by AMI UK or the AMI
                UK
                Principals or a Related Body Corporate of AMI UK or the AMI UK Principals
                or any person acting, or purporting to act, on behalf of AMI UK or
                the AMI
                UK Principals or a Related Body Corporate of AMI UK or the AMI UK
                Principals; or

            

    

     

    
      	
              (b)

            	
              the
                enactment or amendment of any legislation after the date of this
                Deed.

            

    

     

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

    

     

    
      	
              5.6

            	
              Warranty
                and other claims connected to the
                Deed

            

    

     

    AMI
      UK
      and the AMI UK Principals acknowledge and agree that neither Worldwide nor
      AMI
      Australia will be liable to AMI UK or the AMI UK Principals for a Claim if
      the
      Claim would not have arisen but for a change after the date of this
      Deed:

    

    
      	
              (a)

            	
              in
                the rate of Tax or a change in the interpretation of Tax
                laws;

            

    

     

    
      	
              (b)

            	
              in
                the method of applying or calculating the rate of
                Tax;

            

    

     

    
      	
              (c)

            	
              in
                any extra statutory concession or practice adopted by the Australian
                Taxation Office or other relevant Tax authority as at the date of
                this
                Deed (whether or not that change is effective retrospectively in
                whole or
                in part); or

            

    

     

    
      	
              (d)

            	
              in
                legislation.

            

    

     

    
      
        

      

    

    
      	
              6.

            	
              Undertakings
                not to compete

            

    

     

    6.1 General
      covenants

     

    In
      consideration of Worldwide and AMI Australia agreeing to enter into this Deed
      and to disclose their Confidential Information to AMI UK and the AMI UK
      Principals, AMI UK and the AMI UK Principals agree that, subject to clause
      6.3,
      they will not, directly or indirectly, whether solely or jointly with any other
      person and whether as principal, agent, director, executive officer, employee,
      member, partner, joint venturer, adviser, consultant or otherwise without the
      prior written consent of the other parties within 3 years of the date of this
      Deed (Restraint
      Period):

     

    
      	
              (a)

            	
              within
                Australia, New Zealand, Japan, China, Indonesia, the UK or any other
                place
                in which AMI Australia, Worldwide or a Related Body Corporate of
                either of
                them carries on business, be engaged in, acquire or hold an interest
                in
                any company or business which is similar to or competes with AMI
                Australia’s business (other than pursuant to the Licence Agreement in the
                case of the UK and any other territories licensed under that
                agreement);

            

    

     

    
      	
              (b)

            	
              canvass,
                solicit, or entice away from AMI Australia, Worldwide or a Related
                Body
                Corporate of either of them or accept the custom of any person who
                as at
                the relevant time during the Restraint Period or at any time during
                the
                period of 12 months before that date was a client, customer, identified
                prospective customer, representative or agent or correspondent of
                AMI
                Australia, Worldwide or a Related Body Corporate of either of them
                or was
                in the habit of dealing with AMI Australia, Worldwide or a Related
                Body
                Corporate of either of them ;

            

    

     

    
      	
              (c)

            	
              employ,
                solicit, entice away from AMI Australia, Worldwide or a Related Body
                Corporate of either of them any person who as at the relevant time
                during
                the Restraint Period or at any time during the period of 12 months
                before
                that date was an officer, manager, consultant or employee of AMI
                Australia, Worldwide or a Related Body Corporate of either of them
                whether
                or not that person would commit a breach of contract by reason of
                leaving
                AMI Australia, Worldwide or a Related Body Corporate of either of
                them;

            

    

     

    
      
         

      

      
        -11-

        
          

        

      

      
         

      

    

    

     

    
      	
              (d)

            	
              use
                or register at any future time a name or trade mark which includes
                all or
                part of any trade mark owned or used by AMI Australia or any confusingly
                similar word or words in such a way as to be capable of or likely
                to be
                confused with any trade mark owned or used by AMI Australia or any
                other
                name or trade mark of AMI Australia (other than in accordance with
                the
                Licence Agreement); or
                

            

    

     

    
      	
              (e)

            	
              attempt,
                counsel, procure or otherwise assist any person to do any of the
                acts
                referred to in this clause.

            

    

     

    6.2 Restraints
      fair and reasonable

     

    Each
      of
      AMI UK and the AMI UK Principals acknowledges that:

     

    
      	
              (a)

            	
              the
                covenants given in clause 6.1 are material to AMI Australia’s and
                Worldwide’s decision to enter into this Deed;
                and

            

    

     

    
      	
              (b)

            	
              the
                restraints contained in clause 6.1
                are:

            

    

     

    
      	 	
              (i)

            	
              fair
                and reasonable regarding the subject matter, area and duration;
                and

            

    

     

    
      	 	
              (ii)

            	
              reasonably
                required by each of the parties to protect the business, financial
                and
                proprietary interests of the AMI Australia and
                Worldwide.

            

    

     

    6.3 Exceptions

     

    Nothing
      in this clause 6 will prevent AMI UK and the AMI UK Principals from holding
      for investment purposes only marketable securities quoted at the time of
      acquisition on a recognised stock exchange in Australia or elsewhere being
      in
      total not more than 5% of the issued share capital of the listed company.

    

    6.4 Severability

     

    Each
      of
      the agreements, obligations and restrictions set out in clause 6 is
      severable and independent so that if clause 6 or any part or provision of
      it is held or found to be wholly or partly unenforceable, then that clause
      or
      that provision or part will be deemed eliminated or modified to the minimum
      extent necessary to make this Deed or that clause or provision or part
      enforceable.

     

    6.5 Injunction

     

    AMI
      UK
      and the AMI UK Principals acknowledges that monetary damages alone would not
      be
      adequate compensation to AMI Australia and Worldwide for a breach of
      clause 6.1 and that AMI Australia and Worldwide are entitled to seek an
      injunction from a court of competent jurisdiction if:

     

    
      	
              (a)

            	
              AMI
                UK or the AMI UK Principals fails to comply or threatens to fail
                to comply
                with clause 6.1; or

            

    

     

    
      	
              (b)

            	
              AMI
                Australia or Worldwide has reason to believe AMI UK or the AMI UK
                Principals is not complying or will not comply with
                clause 6.1. 

            

    

     

    
      
         

      

      
        -12-

        
          

        

      

      
         

      

    

    

     

     

      
        

      

    

    
      	
              7.

            	
              Intellectual
                Property

            

    

     

    7.1 AMI
      Australia and Worldwide property

     

    All
      Intellectual Property Rights owned by AMI Australia and Worldwide are and will
      remain the property of AMI Australia and Worldwide and must not be used by
      any
      of the other parties unless otherwise agreed in writing by AMI Australia and
      Worldwide.

    

    
      

    

    
      	
              8.

            	
              GST
                or VAT

            

    

    

      
        	
                (a)

              	
                If
                  any GST, VAT, withholding or similar tax is payable on any taxable
                  supply
                  made under this Deed to the recipient, the recipient must pay to
                  the
                  supplier the amount of the GST, subject to receipt of a valid tax
                  invoice
                  (or other things required for the supplier to obtain an input tax
                  credit
                  or other like offset) for the
                  supply.

              

      

       

      
        	
                (b)

              	
                Each
                  party must comply with its obligations under Part VB of the Trade
                  Practices Act 1974,
                  any similar State or Territory or UK legislation and any guidelines
                  released by the Australian Competition and Consumer Commission
                  or similar
                  body, and provide to the other party reasonable evidence of compliance
                  on
                  request.

              

      

       

      
        	
                (c)

              	
                Nothing
                  in this clause 8 requires the recipient to pay any penalties, fines,
                  interest or other amounts payable by the supplier on account of
                  a tax
                  default of the supplier. If the recipient is required to reimburse
                  the
                  supplier for any cost or other amount, despite any other provision
                  of this
                  Deed, the recipient does not have to pay the supplier any sum included
                  in
                  that amount for which the supplier (or representative member, if
                  this is
                  not the supplier) can claim an input tax credit, partial input
                  tax credit
                  or other like offset.

              

      

       

      
        
 

    

    
      	
              9.

            	
              Confidentiality

            

    

     

    9.1 Provisions
      to remain confidential

     

    Subject
      to clause 9.2 each party must not and must ensure that its officers, employees
      and agents do not without the prior written consent of the other parties
      disclose or use any Confidential Information of the other parties. For the
      avoidance of doubt, if the Call Option is exercised, AMI UK will be entitled
      to
      use Worldwide’s Technology in accordance with the Licence
      Agreement.

     

    9.2 Exclusions

     

    
      	
              (a)

            	
              A
                party may make disclosures:

            

    

     

    
      	 	
              (i)

            	
              to
                those of its employees, officers, professional or financial advisers
                and
                bankers as the party reasonably thinks necessary to give effect to
                this
                Deed but only on a strictly confidential
                basis;

            

    

     

    
      	 	
              (ii)

            	
              if
                required by law or the rules of a stock exchange;
                and

            

    

     

    
      
         

      

      
        -13-

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (iii)

            	
              in
                the case of AMI UK, in the information memorandum it proposes to
                issue
                subject to clause 2.2 being complied
                with.

            

    

     

    
      	
              (b)

            	
              The
                obligations of this clause do not apply to any information which
                the
                recipient can reasonably
                demonstrate:

            

    

     

    
      	 	
              (i)

            	
              is
                in the public domain through no fault of its
                own;

            

    

     

    
      	 	
              (ii)

            	
              is
                already known to the recipient (as evidenced by its written records)
                at
                the date of disclosure and was not acquired directly or indirectly
                from
                the disclosing party; or

            

    

     

    
      	 	
              (iii)

            	
              is
                required to be disclosed by law under a court order, or by any recognised
                stock exchange or other regulatory
                body.

            

    

     

    
      
        

      

    

    
      	
              10.

            	
              Notices

            

    

     

    10.1 Requirements 

     

    All
      notices must be:

     

    
      	
              (a)

            	
              in
                legible writing and in English;

            

    

     

    
      	
              (b)

            	
              addressed
                to the recipient at the address or facsimile number set out below
                or to
                such other address or facsimile number as a party may notify to the
                other:

            

    

     

    
      	
              to:

            	
              Worldwide
                or AMI Australia

            
	
              Address:
                

            	
              Level
                1, 204-218 Botany Road, Alexandria NSW 2015

            
	
              Attention:
                

            	
              Richard
                Doyle

            
	
              Facsimile
                no:

            	
              (02)
                9640 5186

            
	 	 
	
              to:
                

            	
              AMI
                UK and the AMI UK Principals 

            
	
              Address:
                

            	
              Level
                2, Hudson House, 131 Macquarie Street, Sydney NSW 2000

            
	
              Attention:

            	
              Richard
                Mare

            
	
              Facsimile
                no:

            	
              (02)
                9258 9999

            

    

    

    
      	
              (c)

            	
              signed
                by the party, or where the sender is a company, by a director of
                that
                company or under the common seal of the sender;
                and

            

    

     

    
      	
              (d)

            	
              sent
                to the recipient by hand, prepaid post (airmail if to or from a place
                outside Australia) or facsimile.

            

    

     

    
      	
              10.2

            	
              Receipt

            

    

     

    Without
      limiting any other means by which a party may be able to prove that a notice
      has
      been received by another party, a notice will be deemed to be duly
      received:

     

    
      	
              (a)

            	
              if
                sent by hand, when left at the address of the
                recipient;

            

    

     

    
      
         

      

      
        -14-

        
          

        

      

      
         

      

    

    

     

    
      	
              (b)

            	
              if
                sent by pre-paid post, 3 days (if
                posted within Australia to an address in Australia) or 10 days (if
                posted
                from one country to another) after the date of posting;
                or

            

    

     

    
      	
              (c)

            	
              if
                sent by facsimile, upon receipt by the sender of an acknowledgment
                or
                transmission report generated by the machine from which the facsimile
                was
                sent indicating that the whole facsimile was sent to the recipient's
                facsimile number;

            

    

     

    but
      if a
      notice is served by hand, or is received by the recipient's facsimile on a
      day
      which is not a Business Day in the country where it is received, or after 5:00
      pm (at place of receipt) on a Business Day in the country where it is received,
      the notice is deemed to be duly received by the recipient at 9.00 am (at place
      of receipt) on the first Business Day after that day in the country where it
      is
      received.

     

    
      
        

      

    

    
      	
              11.

            	
              General
                provisions

            

    

     

    
      	
              11.1

            	
              Entire
                agreement

            

    

     

    This
      Deed
      and any documents referred to in this Deed or executed in connection with this
      Deed is
      the
      entire agreement of the parties about its subject matter and supersedes all
      other representations, negotiations, arrangements, understandings or agreements
      and all other communications. 

    

    
      	
              11.2

            	
              Further
                assurances

            

    

     

    Each
      party must, at its own expense, whenever requested by the other party, promptly
      do or arrange for others to do, everything reasonably necessary to give full
      effect to this Deed and the transactions contemplated by this Deed.

     

    
      	
              11.3

            	
              Costs

            

    

     

    Each
      party must pay its own costs in respect of this Deed and the documents and
      transactions contemplated by this Deed except that AMI UK must pay all stamp
      duty chargeable on this Deed.

     

    
      	
              11.4

            	
              Assignment

            

    

     

    Neither
      party may assign, create an interest in or deal in any other way with any of
      its
      rights under this Deed without the prior written consent of the other
      party.

     

    
      	
              11.5

            	
              Invalid
                or unenforceable
                provisions

            

    

     

    If
      a
      provision of this Deed is invalid or unenforceable in a
      jurisdiction:

     

    
      	
              (a)

            	
              it
                is to be read down or severed in that jurisdiction to the extent
                of the
                invalidity or unenforceability; and

            

    

     

    
      	
              (b)

            	
              that
                fact does not affect the validity or enforceability
                of:

            

    

     

    
      	 	
              (i)

            	
              that
                provision in another jurisdiction;
                or

            

    

     

    
      
         

      

      
        -15-

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (ii)

            	
              the
                remaining provisions.

            

    

     

    
      	
              11.6

            	
              No
                merger

            

    

     

    The
      warranties, other representations and promises by the parties are continuing
      and
      will not merge or be extinguished on Completion.

     

    
      	
              11.7

            	
              Waiver
                and exercise of rights

            

    

     

    
      	
              (a)

            	
              A
                waiver of a provision of or of a right under this Deed is binding
                on the
                party granting the waiver only if it is given in writing and is signed
                by
                the party or an authorised officer of the party granting the waiver.
                

            

    

     

    
      	
              (b)

            	
              A
                waiver is effective only in the specific instance and for the specific
                purpose for which it is given.

            

    

     

    
      	
              (c)

            	
              A
                single or partial exercise of a right by a party does not preclude
                another
                exercise of that right or the exercise of another
                right.

            

    

     

    
      	
              (d)

            	
              Failure
                by a party to exercise or delay in exercising a right does not prevent
                its
                exercise or operate as a waiver.

            

    

     

    
      	
              11.8

            	
              Amendment

            

    

     

    This
      Deed
      may be amended only by a document signed by all parties.

     

    
      	
              11.9

            	
              Counterparts

            

    

     

    This
      Deed
      may be signed in counterparts and all counterparts taken together constitute
      one
      document.

     

    
      	
              11.10

            	
              Governing
                law

            

    

     

    This
      Deed
      is governed by the laws of New South Wales.

     

    
      	
              11.11

            	
              Jurisdiction

            

    

     

    Each
      party irrevocably and unconditionally:

     

    
      	
              (a)

            	
              submits
                to the non-exclusive jurisdiction of the courts of New South Wales;
                and

            

    

     

    
      	
              (b)

            	
              waives,
                without limitation, any Claim or objection based on absence of
                jurisdiction or inconvenient forum.

            

    

     

    
      
         

      

      
        -16-

        
          

        

      

      
         

      

    

    

     

    
      

    

    
      	
              12.

            	
              Guarantee
                and indemnity

            

    

     

    
      	
              12.1

            	
              Consideration

            

    

     

    AMI
      Australia agrees that it has entered into this Deed for valuable consideration
      including, but not limited to, AMI UK entering into this Deed and paying the
      Initial Call Option Fee to Worldwide.

    

    
      	
              12.2

            	
              Guarantee

            

    

     

    AMI
      Australia unconditionally and irrevocably guarantees to AMI UK the due and
      punctual performance and observance by Worldwide of Worldwide’s obligations
      under or in connection with this Deed including all obligations to pay money
      ("Guaranteed Obligations").

    

    
      	
              12.3

            	
              Non-compliance

            

    

     

    If
      Worldwide does not comply with the Guaranteed Obligations on time and in
      accordance with this Deed, then AMI Australia agrees to comply with the
      Guaranteed Obligations when AMI UK requests AMI Australia to do so.

    

    
      	
              12.4

            	
              Indemnity

            

    

     

    As
      a
      separate undertaking, AMI Australia unconditionally and irrevocably indemnifies
      AMI UK from and against all claims arising from or incurred in connection with
      Worldwide’s breach or failure to comply with any of the Guaranteed Obligations.
      It is not necessary for AMI UK to incur expense or make payment before enforcing
      this right of indemnity.

    

    
      	
              12.5

            	
              Separate
                obligation

            

    

     

    AMI
      Australia agrees that the indemnity contained in clause 12.4 is a separate
      and
      distinct obligation and will not be restrictively interpreted by the guarantee
      set out in clause 12.2.

    

    
      	
              12.6

            	
              Principal
                liability

            

    

     

    AMI
      Australia agrees that its liability under this clause 12 is that of principal
      debtor.

    

    
      	
              12.7

            	
              Waiver
                of rights

            

    

     

    AMI
      Australia waives any right it may have of first requiring AMI UK to commence
      proceedings or enforce any other right against Worldwide or any other person
      before claiming under this clause 12.

    

    
      	
              12.8

            	
              Continuing
                indemnity

            

    

     

    The
      guarantee and indemnity in this clause 12 is a continuing guarantee and
      indemnity, is not discharged by any one payment and will remain in full force
      and effect until the whole of the Guaranteed Obligations have been satisfied
      in
      full.

    
      
         

      

      
        -17-

        
          

        

      

      
         

      

    

    

    

    
      	
              12.9

            	
              Absolute
                obligation

            

    

     

    AMI
      Australia’ obligations as guarantor and indemnifier under this Deed are absolute
      and unconditional in any and all circumstances and are not prejudiced, released,
      discharged
      or
      otherwise affected by any act, omission, matter or thing which except for this
      provision might operate to release it from its obligations under this
      clause.

    

     

    
      
         

      

      
        -18-

        
          

        

      

      
         

      

    

    Executed
      by
      the
      parties as a Deed:

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Worldwide
                PE Patent Holdco Pty Limited

            	
              )

              )

            	 
	
              by
                its sole director and secretary:

            	
              )

            	 
	 	 	 
	 	 	 
	 	 	 

	 	 	
              Signature
                of sole director/secretary

            
	 	 	 
	 	 	 
	 	 	 

	 	 	
              Name
                of sole director/secretary (please print)

            

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              AMI
                Australia Holdings Pty Limited

            	
              )

            	 
	
              by
                its sole director and secretary:

            	
              )

            	 
	 	 	 
	 	 	 
	 	 	 

	 	 	
              Signature
                of sole director/secretary

            
	 	 	 
	 	 	 
	 	 	 

	 	 	
              Name
                of sole director/secretary (please print)

            

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              AMI
                Group Limited

            	
              )

            	 
	
              by
                a director and secretary/director:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of secretary/director

            	 	
              Signature
                of director

            
	 	 	 
	 	 	 
	 
	 	 

	
              Name
                of secretary/director (please print)

            	 	
              Name
                of director (please print) 

            

    

    

    
      
         

      

      
        -19-

        
          

        

      

      
         

      

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Zascha
                Knochell

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of Zascha
                Knochell

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Drew
                Shardlow

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of Drew
                Shardlow

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Richard
                Mare

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of Richard
                Mare

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    
      
         

      

      
        -20-

        
          

        

      

      
         

      

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              David
                McDonald

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of David
                McDonald

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    

    
      
         

      

      
        -21-

        
          

        

      

      
         

        
          

        

      

    

    

    Annexure
      1

     

    Warranties

     

      
        

      

    

    
      	
              1.

            	
              Corporate

            

    

     

    
      	
              1.1

            	
              Authority

            

    

     

    Worldwide
      and AMI Australia have:

     

    
      	
              (a)

            	
              full
                power and authority to enter into and perform this Deed;
                and

            

    

     

    
      	
              (b)

            	
              obtained
                all necessary shareholder and/or board
                approvals.

            

    

     

    
      	
              1.2

            	
              Insolvency
                events

            

    

     

    
      	
              (a)

            	
              Liquidation/winding
                up/appointment of administrator or receiver
                etc

            

    

     

    Neither
      Worldwide nor AMI has had:

     

    
      	 	
              (i)

            	
              a
                liquidator or provisional liquidator
                appointed;

            

    

     

    
      	 	
              (ii)

            	
              a
                receiver, receiver and manager, trustee, controller, official manager,
                bankruptcy trustee or administrator or similar officer appointed;
                

            

    

     

    
      	 	
              (iii)

            	
              an
                administrator appointed, whether under Part 5.3A of the Corporations
                Law
                or
                otherwise; 

            

    

     

    
      	 	
              (iv)

            	
              an
                application made for the appointment of an administrator, liquidator
                or
                provisional liquidator; or

            

    

     

    
      	 	
              (v)

            	
              any
                foreign equivalent to any of the
                above;

            

    

     

    over
      all
      or part of its business and no resolutions have been passed for any such
      appointment; or

     

    
      	 	
              (vi)

            	
              an
                application made for the winding up of the
                company.

            

    

     

    
      	
              (b)

            	
              Execution

            

    

     

    No
      execution, distress or similar process has been levied upon or against Worldwide
      or AMI Australia.

     

    
      	
              (c)

            	
              Schemes
                of arrangement

            

    

     

    Neither
      Worldwide nor AMI Australia has:

     

    
      	 	
              (i)

            	
              entered
                into or resolved to enter into any scheme of arrangement, composition,
                assignment for the benefit of, or other arrangement with its creditors
                or
                any class of creditors; or

            

    

     

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (ii)

            	
              proposed
                or had proposed on its behalf a reorganisation, moratorium, deed
                of
                company arrangement or other administration involving one or more
                of its
                creditors, or its winding up or
                dissolution.

            

    

     

    
      	
              (d)

            	
              Striking
                off

            

    

     

    Neither
      Worldwide nor AMI Australia has:

     

    
      	 	
              (i)

            	
              received
                a notice under sections 601AA or 601AB of the Corporations
                Act 2001
                or
                any foreign equivalent; or

            

    

     

    
      	 	
              (ii)

            	
              been
                struck off the register of companies or dissolved and there is no
                action
                proposed by the ASIC, or any foreign equivalent, to do
                so.

            

    

     

      
        

      

    

    
      	
              2.

            	
              General

            

    

     

    
      	
              2.1

            	
              Benefit

            

    

     

    
      	
              (a)

            	
              Each
                or Worldwide and AMI Australia benefit by entering into this
                Deed.

            

    

     

    
      	
              (b)

            	
              There
                are no reasonable grounds to suspect that Worldwide or AMI Australia
                is
                unable to pay its debts as and when they become due and
                payable.

            

    

     

    
      	
              (c)

            	
              Neither
                Worldwide nor AMI Australia enters into this Deed as a
                trustee.

            

    

     

    
      	
              (d)

            	
              No
                person has contravened or will contravene section 208 or section
                209 of
                the Corporations
                Act 2001
                or
                any foreign equivalent by entering into this Deed or participating
                in any
                transaction in connection with this
                Deed.

            

    

     

    
      	
              (e)

            	
              Neither
                Worldwide nor AMI Australia has immunity from the jurisdiction of
                a court
                or from legal process.

            

    

     

    
      	
              (f)

            	
              All
                of the statements relating to Worldwide and AMI Australia set out
                in this
                Deed and the Licence Agreement are true and
                correct.

            

    

     

    

    

    
      
         

      

      
        -2-

        
          

        

      

      
         

        
          

        

      

    

    

    Annexure
      2

     

    Call
      Option Notice

    

    

    
      	
              To:

            	
              Worldwide
                PE Patent Holdco Pty Limited (ACN 117 157 427) (Worldwide)
                and AMI Australia Holdings Pty Limited (ACN 095 238 645) (AMI
                Australia)

            

    

     

    
      	
              From:

            	
              AMI
                Group Limited (AMI
                UK)
                and Zascha Knochell, Drew Shardlow, Richard Mare and David McDonald
                (AMI
                UK Principals)

            

    

     

    

     

    Option
      Deed

     

    We
      refer
      to the Option Deed dated on or about 13 April 2007 (the "Deed") between
      Worldwide, AMI Australia, AMI UK and the AMI UK Principals.

     

    Terms
      defined in the Deed have the same meaning in this Notice.

     

    Pursuant
      to clause 3.1 of the Deed, AMI UK requires Worldwide to grant the Licence
      Agreement to AMI UK with effect from the Completion Date.

     

    AMI
      UK
      and the AMI UK Principals confirm that they are bound by the Licence
      Agreement.

     

    

     

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              AMI
                Group Limited

            	
              )

            	 
	
              by
                a director and secretary/director:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of secretary/director

            	 	
              Signature
                of director

            
	 	 	 
	 	 	 
	 
	 	 

	
              Name
                of secretary/director (please print)

            	 	
              Name
                of director (please print) 

            

    

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Zascha
                Knochell

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of Zascha
                Knochell

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Drew
                Shardlow

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	  

	
              Signature
                of witness

            	 	
              Signature
                of Drew
                Shardlow

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Richard
                Mare

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of Richard
                Mare

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              David
                McDonald

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	 

	
              Signature
                of witness

            	 	
              Signature
                of David
                McDonald

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    Annexure
      3

     

    Licence
      Agreement

    

    

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    Licence
      Deed

     

    between

    

    Worldwide
      PE Patent Holdco Pty Limited

    

    (ACN
      117
      157 427)

    

    and

    

    AMI
      Australia Holdings Pty Limited

     

    (ACN
      095
      238
      645)

    and

    

    AMI
      Group Limited

     

    and

    

    Zascha
      Knochell, Drew Shardlow, Richard Mare and David McDonald

     

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

        
        

      

    

    

    Contents

     

    

    
      	
              Clause

            	 	 
	
              number

            	
              Heading

            	
              Page

            
	 	 	 
	
              1.

            	
              Definitions
                and interpretation

            	
              2

            
	 	 	 
	
              2.

            	
              Grant
                of rights and maintenance of quality

            	
              7

            
	 	 	 
	
              3.

            	
              Support
                and assistance

            	
              8

            
	 	 	 
	
              4.

            	
              Upfront
                Licence Fee, Royalties and expenses

            	
              9

            
	 	 	 
	
              5.

            	
              Method
                of payment

            	
              10

            
	 	 	 
	
              6.

            	
              Confidentiality

            	
              10

            
	 	 	 
	
              7.

            	
              Warranties
                and indemnities

            	
              12

            
	 	 	 
	
              8.

            	
              Infringement

            	
              12

            
	 	 	 
	
              9.

            	
              Restraints

            	
              12

            
	 	 	 
	
              10.

            	
              Termination

            	
              14

            
	 	 	 
	
              11.

            	
              Guarantee
                and indemnity by Licensor's Guarantor

            	
              16

            
	 	 	 
	
              12.

            	
              Notices

            	
              16

            
	 	 	 
	
              13.

            	
              General
                provisions

            	
              17

            
	 	 	 
	
              14.

            	
              Assignment

            	
              18

            
	 	 	 
	
              15.

            	
              Option
                for additional Territories and right of first
                refusal

            	
              19

            
	 	 	 
	
              16.

            	
              Option
                to renew

            	
              20

            

    

    

    

    

    
      
         

      

      
        -i-

        
          

        

      

      
         

        
          

        

      

    

    Licence
      Deed

     

    

    This
      deed
      is made
      on the     of     ,
2007.

    

    Between

    Worldwide
      PE Patent Holdco Pty Limited
      (ACN 117
      157 427) of Level 1, 204-218 Botany Road, Alexandria NSW 2015 (Licensor);

     

    And

    

    AMI
      Australia Holdings Pty Limited
      (ACN 095
      238 645) of Level 1, 204-218 Botany Road, Alexandria NSW 2015 (Licensor’s
      Guarantor);

     

    And

    

    AMI
      Group
      Limited
      of c/-
      143a woodland St Balgowlah, Sydney NSW 2093 (Licensee);

     

    And

    

    Zascha
      Knochell, Drew Shardlow, Richard Mare and David McDonald
      of c/-
      Level 2, 131 Macquarie Street, Sydney NSW 2000 (Licensee’s
      Principals);

     

    

    Recitals

    
      	
              A.

            	
              The
                Licensor owns the international formulation rights and other rights
                associated with the AMI business and the Licensor’s Guarantor operates
                Australia’s largest chain of specialist sexual dysfunction medical
                clinics.

            

    

     

    
      	
              B.

            	
              The
                Licensee Principals are the current directors and shareholders of
                the
                Licensee.

            

    

    

    
      	
              C.

            	
              The
                Licensor has agreed to grant to the Licensee the exclusive right
                and
                licence to use the Technology in the Territory, on the terms and
                conditions of this Deed.

            

    

    

    
      	
              C.

            	
              In
                consideration for the Licensee agreeing to enter into this Deed and
                pay
                the Upfront Licence Fee to the Licensor, the Licensor’s Guarantor has
                agreed to guarantee the Licensor’s obligations under this
                Deed.

            

    

    

    
      	
              D.

            	
              In
                consideration for the Licensor and the Licensor’s Guarantor agreeing to
                enter into this Deed, the Licensee Principals have agreed to give
                certain
                covenants relating to confidentiality and restraint of trade pursuant
                to
                this Deed

            

    

    

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    

    Operative
      provisions

    
      
        

      

    

    
      	
              1.

            	
              Definitions
                and interpretation

            

    

     

    
      	
              1.1

            	
              Definitions

            

    

     

    In
      this
      Deed, unless the context requires another meaning:

     

    "Business
      Day" means
      a
      day that is not a Saturday, Sunday or a public holiday or bank holiday in
      Sydney;

     

    "Commencement
      Date" means
      the
      date of this Deed;

     

    “Confidential
      Information”
      means
      information which relates to the business and affairs (financial and otherwise)
      of the Disclosing Party (including information which is in oral, visual or
      written form or is recorded in any other medium), and includes:

     

    
      	
              (a)

            	
              business
                plans and forecasts;

            

    

    

    
      	
              (b)

            	
              financial
                and marketing information of the Disclosing
                Party;

            

    

    

    
      	
              (c)

            	
              know-how,
                trade secrets, ideas, concepts, technical and operational information,
                arising or used by the Disclosing Party in relation to its
                business;

            

    

    

    (d) the
      terms
      upon which the Disclosing Party contracts with or proposes to contract with
      employees, contractors, clients and suppliers;

    

    
      	
              (e)

            	
              information
                concerning the affairs or property of the Disclosing Party's business
                or
                any current or proposed business, property or transaction in which
                the
                Disclosing Party may be or may have been concerned or
                interested;

            

    

    

    
      	
              (f)

            	
              the
                names and addresses and other personal details of current and proposed
                employees, contractors, clients and suppliers of the Disclosing
                Party;

            

    

    

    
      	
              (g)

            	
              information
                which by its nature or by the circumstances of its disclosure, is
                or could
                reasonably be expected to be regarded as confidential to the Disclosing
                Party or any third party with whose consent or approval the Disclosing
                Party uses that information;

            

    

    

    
      	
              (h)

            	
              any
                discussions or negotiations relating to this Deed;
                and

            

    

    

    
      	
              (i)

            	
              any
                documents, reports or analyses created in relation to this
                Deed;

            

    

    

    but
      does
      not include: 

    

    
      	 	
              (i)

            	
              any
                information which is or becomes part of the public domain other than
                by
                reason of a breach of this Deed;
                or

            

    

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    

    

    
      	 	
              (ii)

            	
              information
                the disclosure of which is compelled by any court, tribunal, commission
                or
                other competent judicial or administrative body;
                or

            

    

    

    
      	 	
              (iii)

            	
              information
                which the Receiving Party can establish was known by it before it
                was
                disclosed to it by the other party;

            

    

    

    “Disclosing
      Party”
      means
      the party disclosing Confidential Information to the other party or parties;
      

    

    "Exploit"
      includes
      to develop further, use, make, hire, sell or otherwise dispose of or
      commercialise, advertise and promote and to offer to do any of those
      things;

    

    "Field
      of Use" means
      the
      treatment of sexual dysfunction including without limitation impotence and
      premature ejaculation;

    

    "GST"
      has
      the
      meaning set out in clause 5.2;

    

    "Improvements"
      means
      Licensee Improvements, Licensor Improvements and Joint
      Improvements;

    

    "IMT"
      means
      Intelligent Medical Technologies Pty Limited (ACN 107 047 496);

     

    "Insolvency
      Event"
      means
      for a party, the happening of one or more of the following events:

    

    
      	
              (a)

            	
              except
                for the purpose of a solvent reconstruction or
                amalgamation:

            

    

    

    
      	 	
              (i)

            	
              a
                process is filed in a court seeking an order that it be wound up
                or that a
                controller be appointed to it or any of its assets, unless the application
                is withdrawn, struck out, dismissed or stayed within 21 days of it
                being
                filed; or

            

    

     

    
      	 	
              (ii)

            	
              an
                order is made that it be wound up or that a controller be appointed
                to it
                or any of its assets; or

            

    

     

    
      	 	
              (iii)

            	
              a
                resolution that it be wound up is
                passed;

            

    

     

    
      	
              (b)

            	
              a
                liquidator, provisional liquidator, controller or any similar official
                is
                appointed to, or takes possession or control of, all or any of its
                assets
                or undertaking;

            

    

    

    
      	
              (c)

            	
              an
                administrator is appointed to it, a resolution that an administrator
                be
                appointed to it is passed;

            

    

    

    
      	
              (d)

            	
              it
                enters into, or resolves to enter into, an arrangement, compromise
                or
                composition with any of, or any class of, its creditors, or an assignment
                for the benefit of any of, or any class of, its creditors, or process
                is
                filed in a court seeking approval of any such arrangement, compromise
                or
                composition;

            

    

    

    
      	
              (e)

            	
              a
                reorganisation, moratorium, deed of company arrangement or other
                administration involving one or more of its creditors is
                effected;

            

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    

    

    
      	
              (f)

            	
              any
                action is taken by the Australian Securities & Investments Commission
                to cancel its registration or to dissolving
                it;

            

    

    

    
      	
              (g)

            	
              it
                is insolvent within the meaning of section 95A of the Corporations
                Act
                2001 (Cth), as disclosed in its accounts or otherwise, states that
                it is
                unable to pay its debts or it is presumed to be insolvent under any
                applicable law;

            

    

    

    
      	
              (h)

            	
              as
                a result of the operation of section 459F(1) of the Corporations
                Act 2001
                (Cth),
                it
                is taken to have failed to comply with a statutory
                demand;

            

    

    

    
      	
              (i)

            	
              it
                stops or suspends or threatens to stop or
                suspend:

            

    

    

    
      	 	
              (i)

            	
              the
                payment of all of its debts; or

            

    

     

    
      	 	
              (ii)

            	
              the
                conduct of all or a substantial part of its business;
                or

            

    

    

    
      	
              (j)

            	
              anything
                having a substantially similar effect to any of the events specified
                in
                the preceding paragraphs happens to it under the law of any
                jurisdiction;

            

    

    

    "Intellectual
      Property Rights" means
      all
      rights (including without limitation moral rights) in or to any patent,
      copyright, database rights, registered design or other design right, utility
      model, trade mark (whether registered or not and including any rights in get
      up
      or trade dress), brand name, service mark, trade name, eligible layout right,
      chip topography right and any other rights of a proprietary nature in or to
      the
      results of intellectual activity in the industrial, commercial, scientific,
      literary or artistic fields, whether registrable or not and wherever existing
      in
      the world, including all rights in or to renewals, extensions and revivals
      of,
      and all rights to apply for, any of the foregoing rights;

     

    "Inventions"
      means
      the
      Technology, including any Improvements;

     

    "Joint
      Improvements" means
      any
      developments with respect to the Inventions (including any patentable inventions
      or know-how) which are developed jointly by or on behalf of the Licensor and
      the
      Licensee or are acquired jointly by the Licensor and the Licensee;

    

    "Know-how"
      means
      any
      information, whether or not in writing and whether or not patentable, developed
      or acquired by or on behalf of the Licensor concerning the methods used for
      and
      in the design, development, manufacture, testing, delivery and use of the
      Inventions and the processes for utilising the Inventions;

    

    "Licensee
      Business" means
      the
      business to be developed by the Licensee to Exploit the rights in clause 2.1
      in
      the Territory only;

     

    "Licensee
      Improvements"
      means
      any developments with respect to the Inventions (including any patentable
      inventions or know-how) which are developed by or on behalf of the Licensee
      or
      are acquired by the Licensee;

    

    "Licensor
      Improvements" means
      any
      developments with respect to the Inventions (including any patentable inventions
      or know-how) which are developed by or on behalf of the Licensor or are acquired
      by the Licensor;

    

    "Personnel" of
      a
      party means the officers, employees, contractors and agents of that
      party;

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    

     

    “Receiving
      Party”
      means
      the party receiving the other party's Confidential Information; 

    

    "Related
      Bodies Corporate"
      has the
      meaning ascribed to it in the Corporations Act;

     

    "Royalties"
      means,
      for each period during the term of this Deed, an amount equal to the greater
      of:

    

    
      	
              (a)

            	
              5%
                of the gross revenue of the Licensee during the relevant
                period;
                and

            

    

    

    
      	
              (b)

            	
              subject
                to clause 15, the amount specified in Schedule 1 in relation to the
                relevant period;

            

    

    

    "Security
      Interest" means
      an
      interest in an asset which provides
      security for, or protects against default by, a person for the payment or
      satisfaction of a debt, obligation or liability including a mortgage, charge,
      bill of sale, pledge, deposit, lien, encumbrance, hypothecation, or arrangement
      for the retention of title or any other arrangement under which money or claims
      to, or the benefit of, a bank or other account may be applied, set-off or made
      subject to a combination of accounts;

     

    "Tax"
      means
      a
      tax, levy, charge, impost, deduction, withholding or duty of any nature
      (including stamp and transaction duty) at any time:

    

    
      	
              (a)

            	
              imposed
                or levied by any government agency;

            

    

    

    
      	
              (b)

            	
              required
                to be remitted to, or collected, withheld or assessed by, any government
                agency; and

            

    

    

    
      	
              (c)

            	
              any
                related interest, expense, fine, penalty or other charge on those
                amounts;

            

    

    

    "Technology" means
      all
      methods, systems, hardware, software, technology, Know-how, Confidential
      Information and Intellectual Property Rights developed or utilised now or in
      the
      future by the Licensor in relation to the Field of Use only, with
      the
      exception that this will only extend to IMT’s intellectual property where such
      intellectual property is sold to the public in Australia and where IMT continues
      to be a Related Body Corporate of the Licensor’s Guarantor;
      

     

    "Term" means,
      subject to clause 16, the period of 5 years from the Commencement Date unless
      terminated earlier;

     

    "Territory" means,
      subject to clause 15, the United Kingdom (including England, Scotland, Ireland
      and Wales); 

     

    "Third
      Party Interest" means
      any
      Security Interest, lease, license, option, voting arrangement, easement,
      covenant, notation, restriction, interest under any agreement, interest under
      any trust, or other right, equity, entitlement or other interest of any nature
      held by a third party; and

     

    Upfront
      Licence Fee
      means,
      subject to clause 15, an amount of US$1 million.

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    

     

    
      	
              1.2

            	
              Interpretation

            

    

     

    In
      this
      Deed, unless the context requires another meaning:

     

    
      	
              (a)

            	
              a
                reference:

            

    

     

    
      	 	
              (i)

            	
              to
                the singular includes the plural and vice
                versa;

            

    

     

    
      	 	
              (ii)

            	
              to
                a gender includes all genders;

            

    

     

    
      	 	
              (iii)

            	
              to
                a document (including this Deed) is a reference to that document
                (including any schedules and annexures) as amended, consolidated,
                supplemented, novated or replaced;

            

    

     

    
      	 	
              (iv)

            	
              to
                an agreement includes any undertaking, representation, deed, agreement
                or
                legally enforceable arrangement or understanding whether written
                or
                not;

            

    

     

    
      	 	
              (v)

            	
              to
                a party means a party to this Deed;

            

    

     

    
      	 	
              (vi)

            	
              to
                an item, recital, clause or schedule is to an item, recital, clause
                or
                schedule of this Deed;

            

    

     

    
      	 	
              (vii)

            	
              to
                a notice means a notice, approval, demand, request, nomination or
                other
                communication given by one party to another under or in connection
                with
                this Deed; 

            

    

     

    
      	 	
              (viii)

            	
              to
                a person (including a party)
                includes:

            

    

     

    
      	 	
              (A)

            	
              an
                individual, company, other body corporate, association, partnership,
                firm,
                joint venture, trust or government agency;
                and

            

    

     

    
      	 	
              (B)

            	
              the
                person's successors, permitted assigns, substitutes, executors and
                administrators; 

            

    

     

    
      	 	
              (ix)

            	
              to
                a law: 

            

    

     

    
      	 	
              (A)

            	
              includes
                a reference to any legislation, treaty, judgment, rule of common
                law or
                equity or rule of any applicable stock exchange; and
                

            

    

     

    
      	 	
              (B)

            	
              is
                a reference to that law as amended, consolidated, supplemented or
                replaced; and

            

    

     

    
      	 	
              (C)

            	
              includes
                a reference to any regulation, rule, statutory instrument, by-law
                or other
                subordinate legislation made under that
                law;

            

    

     

    
      	 	
              (x)

            	
              to
                proceedings includes litigation, arbitration and
                investigation;

            

    

     

    
      	 	
              (xi)

            	
              to
                a judgement includes an order, injunction, decree, determination
                or award
                of any court or tribunal;

            

    

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (xii)

            	
              to
                time is to Sydney time; and

            

    

     

    
      	 	
              (xiii)

            	
              the
                word including or includes means including, but not limited to, or
                includes, without limitation.

            

    

     

    
      	
              (b)

            	
              Where
                a word or phrase is defined, its other grammatical forms have a
                corresponding meaning.

            

    

     

    
      	
              (c)

            	
              Headings
                are for convenience only and do not affect
                interpretation.

            

    

     

    
      	
              (d)

            	
              If
                a payment or other act must (but for this clause) be made or done
                on a day
                that is not a business day, then it must be made or done on the next
                business day.

            

    

     

    
      	
              (e)

            	
              If
                a period occurs from, after or before a day or the day of an act
                or event,
                it excludes that day.

            

    

     

    
      	
              (f)

            	
              This
                Deed may not be construed adversely to a party only because that
                party was
                responsible for preparing it.

            

    

     

    
      	
              (g)

            	
              Where
                a covenant is given by or on behalf of 2 or more parties, such covenant
                is
                given jointly and severally.

            

    

     

    
      

    

    
      	
              2.

            	
              Grant
                of rights
                and maintenance of quality

            

    

     

    
      	
              2.1

            	
              The
                Licensor grants to the Licensee from the Commencement Date the exclusive
                right and licence to Exploit the Inventions in the Field of Use in
                the
                Territory
                during the Term.

            

    

     

    
      	
              2.2

            	
              The
                Licensor will not Exploit, and will not grant to any party other
                than the
                Licensee the right to Exploit, the Inventions in the Field of Use
                in the
                Territory during the Term. For the avoidance of doubt, this restriction
                will
                only extend to IMT’s intellectual property where such intellectual
                property is sold to the public in Australia and where IMT continues
                to be
                a Related Body Corporate of the Licensor’s Guarantor.

            

    

     

    
      	
              2.3

            	
              The
                Licensee acknowledges that other than as set out in this clause 2
                it
                acquires no proprietary rights in the Inventions provided to the
                Licensee
                by the Licensor pursuant to this Deed, and that at all times, ownership
                thereof remains with the Licensor, notwithstanding the payment of
                any
                costs relating to those rights. Without limiting the foregoing, the
                Licensee and the Licensee’s Principals agree that they are not permitted
                to and will not Exploit the Inventions outside the
                Territory.

            

    

     

    
      	
              2.4

            	
              The
                Licensee acknowledges and agrees that all rights and interests in
                the
                Inventions are, and will remain, owned by the
                Licensor.

            

    

     

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    

     

    
      	
              2.5

            	
              The
                Licensee agrees to inform the Licensor, promptly, in writing, of
                any
                Improvement of which it becomes aware. If, during the term of this
                Deed,
                the Licensee, discovers or invents an Improvement, the Licensee will
                promptly disclose to the Licensor and furnish to the Licensor all
                information held by it pertaining to such
                Improvement.

            

    

     

    
      	
              2.6

            	
              The
                Licensor agrees to inform the Licensee, promptly, in writing, of
                any
                Improvement of which it becomes aware. If, during the term of this
                Deed,
                the Licensor, discovers or invents an Improvement, the Licensor will
                promptly disclose to the Licensee and furnish to the Licensee all
                information held by it pertaining to such Improvement to the extent
                reasonably required for the Licensee to exercise its rights under
                this
                Deed.

            

    

     

    
      	
              2.7

            	
              The
                Licensee acknowledges that the licence involves the right to use
                significant Intellectual Property Rights of the Licensor within the
                Territory and that the quality of goods and services provided by
                the
                Licensee to customers as well as the general use of those rights
                by the
                Licensee have the potential to impact the reputation of the Licensor
                and
                the value of its Intellectual Property Rights. The Licensee agrees
                and
                acknowledges that it will ensure that all of its operations are conducted
                in accordance with all relevant legal requirements and that it will
                also
                ensure that the quality of goods and services provided by it within
                the
                Territory are commensurate with the quality of goods and services
                provided
                by the Licensor outside the Territory. Without limiting the foregoing
                the
                Licensee agrees that it will ensure that all medical services performed
                in
                accordance with its business are performed by registered doctors
                who have
                been appropriately trained by it, that any pharmaceuticals provided
                by it
                are provided by a licensed compounding pharmacy in accordance with
                all
                relevant regulatory requirements and that its advertising and operations
                are fully compliant with all other relevant regulatory
                requirements.

            

    

     

    
      	
              2.8

            	
              The
                Licensee agrees that the Licensor will be entitled to inspect the
                Licensee’s premises and books and records at any time on reasonable notice
                to the Licensee to review compliance with this
                clause.

            

    

     

    
      

    

    
      	
              3.

            	
              Support
                and assistance

            

    

     

    
      	
              3.1

            	
              During
                the Term, the Licensor will promptly give the Licensee reasonable
                access
                to such of the Inventions not already disclosed to the Licensee as
                is
                reasonably required by the Licensee to enable the efficient exercise
                of
                its rights and licences under this
                Deed.

            

    

     

    
      	
              3.2

            	
              During
                the Term, the Licensor will use best endeavours to assist the Licensee
                to
                exercise its rights under clause 2.1 and develop the Licensee’s Business
                including using bast endeavours to procure that any third parties
                involved
                in the operation of the Licensor's business (for example pharmaceutical
                suppliers) will also supply goods and services to the Licensee on
                the same
                terms as the goods and services are supplied to the
                Licensor.

            

    

     

    
      	
              3.3

            	
              The
                Licensor must ensure that suitable members of its Personnel are available
                to answer all reasonable queries the Licensee may have regarding
                the
                Inventions during the Term.

            

    

     

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

    

     

    
      	
              3.4

            	
              The
                Licensor will also ensure that its senior personnel will, on reasonable
                notice, travel to the Territory to assist the Licensee to Exploit
                the
                Inventions and develop the Licensee’s Business in the Territory during the
                Term if requested by the Licensee.

            

    

     

    
      

      	4.	
              Upfront
                Licence Fee, Royalties and
                expenses

            

    

     

    
      	
              4.1

            	
              In
                consideration of the rights granted by the Licensor, the Licensee
                will pay
                the Upfront Licence Fee to the Licensor on the date of this Deed
                and the
                Licensee will pay the Royalties to the Licensor on a quarterly basis
                in
                accordance with this Deed.

            

    

     

    
      	
              4.2

            	
              The
                minimum Royalties (being the amount specified in subparagraph (b)
                of the
                definition of Royalties) will be payable by the Licensee to the Licensor
                quarterly in advance without set-off or demand, which amounts are
                payable
                regardless of the level of turnover in the Licensee’s Business. Within 30
                days after each calendar quarter the Licensee will prepare a calculation
                of the actual gross revenue in the quarter and will pay its calculation
                of
                any excess of the actual Royalty for that quarter over the minimum
                Royalty
                to the Licensor without set-off or
                demand.

            

    

     

    
      	
              4.3

            	
              The
                Licensor may audit the Licensee’s books and records to ensure compliance
                with the Licensee’s obligations to pay Royalties at any time. If an audit
                report prepared by or on behalf of the Licensor indicates any
                understatement in the Licensee’s Royalty calculations and payments, the
                Licensee must immediately pay the Licensor the amount of the shortfall
                without set-off or demand and, if the amount of the shortfall in
                any
                period is more than 3%, the Licensee must reimburse the Licensor
                for all
                costs incurred by the Licensor in respect of the
                audit.

            

    

     

    
      	
              4.4

            	
              The
                Licensee is also to be responsible for all reasonable patent and
                trademark
                fees incurred by the Licensor during the Term relating to the Territory
                (including without limitation grant fees, renewal fees and reasonable
                fees
                payable to lawyers and patent attorneys in relation to same) and
                the
                Licensee must reimburse the Licensor for all such costs on receipt
                of a
                request from the Licensor. 

            

    

     

    
      	
              4.5

            	
              In
                addition, where Australian based assistance from the Licensor to
                the
                Licensee under clause 3 involves extensive staff time or third party
                costs,
                the Licensee must reimburse the Licensor for any such staff costs
                or third
                party costs (as applicable). The Licensor will consult with the Licensee
                prior to undertaking a task which involves extensive staff time so
                that
                the Licensee is able to confirm that it wishes the relevant service
                to be
                provided before incurring the cost. If the Licensee requests that
                the
                Licensor’s staff travel to the Territory to provide assistance, the
                Licensee is to be responsible for all travel and accommodation costs
                (including business class airfares) and is to pay a fee of A$1,500
                per day
                for each staff member during the initial Term (which fee will rise
                to
                A$2,500 per day for each staff member during the first option term
                and
                A$3,500 per day during the second option term). For the avoidance
                of
                doubt, the Licensee will not be responsible for food and drink
                costs.

            

    

     

    
      	
              4.6

            	
              All
                invoices issued by the Licensor under this clause are to be paid
                by the
                Licensee within 28 days after
                receipt.

            

    

     

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

    

     

    
      	
              4.7

            	
              Where
                the Licensee wishes to purchase products from the Licensor, the parties
                agree that the cost mechanism will be cost plus a 10% margin exclusive
                of
                freight, with the Licensee being responsible for freight costs.

            

    

     

    
      	
              4.8

            	
              For
                the avoidance of doubt, this clause 4 will not require the Licensee
                to
                make a payment to the Licensor in respect of staff costs in relation
                to
                minor ad-hoc queries made by the Licensee of the Licensor and will
                only
                require payment where extensive time is involved. The
                Licensor will consult with the Licensee prior to undertaking a task
                which
                involves extensive staff time so that the Licensee is able to confirm
                that
                it wishes the relevant service to be provided before incurring the
                cost.

            

    

     

    
      

      	
              5.

            	
              Method
                of payment

            

    

     

    
      	
              5.1

            	
              Subject
                to clauses 5.2 and 5.4, each party will bear any and all Taxes, bank
                fees
                and charges it incurs as a direct or indirect result of the entry
                into
                this Deed or the rights and obligations under this Deed. 

            

    

     

    
      	
              5.2

            	
              If
                a goods and services tax, value added tax or any similar tax ("GST")
                has
                application to any supply made under this Deed, the party making
                the
                supply ("the Supplier") may, in addition to any amount or consideration
                expressed as payable elsewhere in this Deed, subject to issuing a
                valid
                tax invoice or other documents or things required for the party receiving
                the supply ("the Recipient") to obtain an input tax credit to the
                Recipient, recover from the Recipient an additional amount on account
                of
                GST, such amount to be calculated by multiplying the amount or
                consideration payable by the Recipient for the supply by the prevailing
                GST rate. This clause does not require the Recipient to pay any amount
                on
                account of a fine, penalty, interest or other amount payable as a
                consequence of a default by the Supplier or any person associated
                with the
                Supplier. The Supplier shall issue to the Recipient a valid tax
                invoice.
                For the avoidance of doubt, this includes any such taxes payable
                on the
                Upfront Licence Fee or any Royalties payable by the Licensee to the
                Licensor under this Deed.

            

    

     

    
      	
              5.3

            	
              Any
                GST amounts due pursuant to this Deed will be payable within 14 days
                after
                issue of tax invoice in respect of the
                supply.

            

    

     

    
      	
              5.4

            	
              In
                addition, if any withholding or similar tax is chargeable on any
                payments
                payable by the Licensee to the Licensor under this Deed, the Licensee
                will
                be responsible for any such taxes and will reimburse the Licensor
                for any
                taxes payable by it in relation to
                same.

            

    

     

    
      

    

    
      	
              6.

            	
              Confidentiality

            

    

     

    
      	
              6.1

            	
              Except
                as expressly permitted or required by this Deed, the Licensee and
                the
                Licensee's Guarantor must not use any of the Confidential
                Information.

            

    

     

    
      	
              6.2

            	
              Except
                as expressly permitted or required by this Deed, the Licensee and
                the
                Licensee's Guarantor must not disclose to any other person any of
                the
                Confidential Information.

            

    

     

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

    

     

    
      	
              6.3

            	
              The
                Licensee may disclose the Confidential
                Information:

            

    

     

    
      	
              (a)

            	
              when
                required to do so by law or any regulatory authority, to the extent
                so
                required;

            

    

     

    
      	
              (b)

            	
              to
                its Personnel whose duties reasonably require such disclosure, on
                condition that the party making such disclosure: 

            

    

     

    
      	 	
              (i)

            	
              ensures
                that each such person to whom such disclosure is made is informed
                of the
                confidentiality of the information and the obligations of confidentiality
                under this Deed; and

            

    

     

    
      	 	
              (ii)

            	
              use
                its best endeavours to ensure that each such person to whom such
                disclosure is made complies with those obligations as if they were
                bound
                by them;

            

    

     

    
      	
              6.4

            	
              From
                time to time, the Licensor may, in writing, request the Licensee
                to notify
                it in writing of all persons to whom the Confidential Information
                has been
                disclosed under clause 6.3. If the Licensee receives such a request,
                it
                must comply with that request promptly.

            

    

     

    
      	
              6.5

            	
              If
                the Licensee becomes aware of a breach of this clause 5.4
                6.4,
                including a breach of duty of its Personnel with respect to the
                Confidential Information, it must:

            

    

     

    
      	
              (a)

            	
              notify
                the Licensor as soon as it becomes aware of the
                breach;

            

    

     

    
      	
              (b)

            	
              promptly
                provide the Licensor with any information or assistance which it
                may
                reasonably request in order to minimise the loss or damage it may
                suffer
                as a result of the breach; and

            

    

     

    
      	
              (c)

            	
              cooperate
                with the Licensor in any investigation or litigation conducted by
                it to
                protect its rights in the Confidential Information.
                

            

    

     

    
      	
              6.6

            	
              A
                copy of all public announcements and press releases which the Licensee
                intends to release or make with respect to the subject matter of
                this Deed
                shall be provided to the Licensor in writing prior to being released
                or
                made. The Licensor shall respond to a request for approval within
                three
                (3) working days of receipt of the copy of the public announcement
                or
                press release and shall not unreasonably withhold or condition its
                approval. The Licensee acknowledges that the Licensor is part of
                a listed
                group and will be required to announce the entry into this Deed and
                will
                also be required to report its earnings under this Deed on a quarterly
                basis and any major developments relating to this Deed as and when
                they
                occur in accordance with applicable securities laws or stock exchange
                requirements. The Licensee consents to all such
                announcements.

            

    

     

    
      
         

      

      
        -11-

        
          

        

      

      
         

      

    

    

    
      

    

    
      	
              7.

            	
              Warranties
                and indemnities

            

    

     

    
      	
              7.1

            	
              The
                Licensor warrants that, as far as the Licensor is aware (other than
                as has
                come to the knowledge of the Licensee during the discussions regarding
                these arrangements):

            

    

     

    
      	
              (a)

            	
              The
                Licensor owns or has the rights to use all Intellectual Property
                Rights in
                the Inventions;

            

    

     

    
      	
              (b)

            	
              The
                Licensor has the unencumbered right to grant to the Licensee the
                licence
                set out in clause 2.1; and

            

    

     

    
      	
              (c)

            	
              acts
                done by the Licensee in exercise of the rights granted in clause
                2.1 will
                not infringe the Intellectual Property Rights of any third
                party.

            

    

     

    
      	
              7.2

            	
              The
                Licensor agrees unconditionally to indemnify and hold harmless the
                Licensee (including all of its officers, agents, employees, and
                affiliates) from and against any and all loss, damage, liability
                and
                expense (including all reasonable legal fees) suffered or incurred
                by
                reason of any claims, proceedings or suits based on or arising
                out of
                any breach by the Licensor of this Deed or arising as a result of
                any
                written representation or warranty made by the Licensor in this Deed
                being
                untrue or misleading.

            

    

     

    
      	
              7.3

            	
              The
                Licensee agrees unconditionally to indemnify and hold harmless the
                Licensor from and against any and all loss, damage liability and
                expense
                (including all reasonable legal fees) suffered or incurred by reason
                of
                any claims, proceedings or suits based on or arising out of any breach
                by
                the Licensee of this Deed.

            

    

     

    
      

      	
              8.

            	
              Infringement

            

    

     

    
      	
              8.1

            	
              Each
                Party must notify the other party in writing as soon as practicable
                after
                it detects
                any actual or threatened infringement or misuse of, or any challenge
                or
                other action detrimental to any of the Technology and of any actual
                or
                threatened passing-off in each case on a scale that would substantially
                adversely affect the Technology.

            

    

     

    
      	
              8.2

            	
              The
                Licensor may, at its expense, take all steps that it thinks fit to
                prevent
                or end any infringement or misuse or to defend any challenge or other
                action concerning the Technology, including
                by commencing proceedings.

            

    

     

    
      

      	
              9.

            	
              Restraints

            

    

     

    
      	
              9.1

            	
              Subject
                to clause 9.3, the Licensee and the Licensee’s Principals must not
                directly or indirectly, whether solely or jointly with any other
                person,
                and whether as principal, agent, director, executive officer, employee,
                shareholder, partner, joint venturer, advisor, consultant or
                otherwise:

            

    

     

    
      
         

      

      
        -12-

        
          

        

      

      
         

      

    

    

     

    
      	
            	
              (a)

            	
              subject
                to clause 9.5, for the period commencing on the Commencement Date
                and
                ending on the date which is 3 years after the end of the Term, carry
                on or
                be engaged or involved in any trade, business or undertaking which
                relates
                to the treatment of impotence, sexual dysfunction or premature ejaculation
                in men or women and
                the treatment of female sexual arousal disorders,
                globally, in Australia and in each other country around the world
                (other
                than the Territory);

            

    

     

    
      	
            	
              (b)

            	
              subject
                to clause 9.5, for the period commencing on termination of this Deed
                and
                ending on the date which is 3 years after that date, carry on or
                be
                engaged or involved in any trade, business or undertaking which relates
                to
                the treatment of impotence, sexual dysfunction or premature ejaculation
                in
                the Territory;

            

    

     

    
      	
            	
              (c)

            	
              subject
                to clause 9.5, for the period commencing on the Commencement Date
                and
                ending on the date which is 3 years after the end of the Term canvass,
                solicit, or entice away from the Licensor or its Related Bodies Corporate,
                in Australia and in each other country around the world (other than
                the
                Territory), the custom of any person who during that period was a
                client
                or customer of the Licensor or its Related Bodies
                Corporate;

            

    

     

    
      	
            	
              (d)

            	
              subject
                to clause 9.5, for the period commencing on the termination of this
                Deed
                and ending on the date which is 3 years after that date canvass,
                solicit,
                or entice away from the Licensor or its Related Bodies Corporate,
                in the
                Territory, the custom of any person who as at the termination date
                or at
                any time during the period of 12 months prior to the termination
                date was
                a client or customer of the Licensor or its Related Bodies Corporate
                or of
                the Licensee;

            

    

     

    
      	
            	
              (e)

            	
              subject
                to clause 9.5, for the period commencing on the Commencement Date
                and
                ending on the date which is 3 years after the end of the Term, employ,
                solicit, entice away from the Licensor or its Related Bodies Corporate
                any
                person who during that period was an officer, manager, consultant
                or
                employee of the Licensor or its Related Bodies Corporate whether
                or not
                that person would commit a breach of contract by reason of leaving
                the
                Licensor or its Related Bodies
                Corporate;

            

    

     

    
      	
            	
              (f)

            	
              use
                or disclose, or permit any other person to use or disclose any
                Confidential Information (not being information which is or becomes
                available to the public other than by reason of a breach of this
                clause)
                of the Licensor or its Related Bodies Corporate other than in relation
                to
                the Licensee Business and then only in accordance with this
                Deed;

            

    

     

    
      	
            	
              (g)

            	
              use
                or register a name or trade mark which includes all or part of any
                business name, trade mark or the name of the Licensor or its Related
                Bodies Corporate or any confusingly similar word or words in such
                a way as
                to be capable of or likely to be confused with any business name,
                trade
                mark or the name of the Licensor or its Related Bodies Corporate
                other
                than in relation to the Licensee Business and then only in accordance
                with
                this Deed;

            

    

     

    
      
         

      

      
        -13-

        
          

        

      

      
         

      

    

    

     

    
      	
            	
              (h)

            	
              in
                the course of carrying on any trade or business, claim, represent
                or
                otherwise indicate any present association with the Licensor or its
                Related Bodies Corporate or, for the purpose of obtaining or retaining
                any
                business or custom, claim, represent or otherwise indicate any past
                association with the Licensor or its Related Bodies Corporate other
                than
                in accordance with this Deed; or

            

    

     

    
      	
            	
              (i)

            	
              attempt,
                counsel, procure or otherwise assist any person to do any of the
                acts
                referred to in this clause.

            

    

     

    
      	
              9.2

            	
              The
                Licensee and the Licensee’s Principals acknowledge
                that:

            

    

     

    
      	
              (a)

            	
              the
                covenants given in clause 9.1 are material to the Licensor's decision
                to
                enter into this Deed; and

            

    

     

    
      	
              (b)

            	
              the
                restraints contained in clause 9.1
                are:

            

    

     

    
      	 	
              (i)

            	
              fair
                and reasonable regarding the subject matter, area and duration;
                and

            

    

     

    
      	 	
              (ii)

            	
              reasonably
                required by the Licensor to protect the business, financial and
                proprietary interests of the Licensor and its Related Bodies
                Corporate.

            

    

     

    
      	
              9.3

            	
              Nothing
                in this clause 9 prevents the Licensee and the Licensee’s Principals from
                holding for investment purposes only marketable securities quoted
                at the
                time of acquisition on a recognised stock exchange in Australia or
                elsewhere providing the aggregate direct and indirect interest of
                the
                Licensee and the Licensee’s Principals in aggregate in any such entity
                does not exceed 5% of its total issued capital if such entity’s activities
                are in competition or conflict with the Licensor or its Related Bodies
                Corporate.

            

    

     

    
      	
              9.4

            	
              Each
                of the obligations set out in clause 9.1 is severable and independent
                so
                that if clause 9.1 or any part or provision of it is unenforceable
                then
                that clause or that part will be deemed eliminated or modified to
                the
                minimum extent necessary to make this Deed or that clause or part
                enforceable.

            

    

     

    
      	
              9.5

            	
              The
                obligations in clauses 9.1 (a), (b), (c), (d) and (e) will cease
                on
                termination of this Deed if this Deed is terminated by the Licensee
                in
                accordance with clause 10 due to breach of this Deed by the
                Licensor.

            

    

     

    
      

    

    
      	10.	
              Termination

            

    

     

    
      	
              10.1

            	
              Either
                party may terminate this Deed immediately (or with effect from any
                later
                date that it may nominate) by written notice to the other party if
                one or
                more Insolvency Events occurs in relation to that other
                party.

            

    

     

    
      	
              10.2

            	
              In
                addition, the Licensor may terminate this Deed if the Licensee fails
                for
                more than 35 days to make a Royalty payment which is due under this
                Deed
                without any demand needing to be made by the Licensor or if the Licensee
                materially breaches clause 9 of this
                Deed.

            

    

     

    
      
         

      

      
        -14-

        
          

        

      

      
         

      

    

    

     

    
      	
              10.3

            	
              Without
                prejudice to each party’s rights under the other provisions of this
                clause, either party may terminate this Deed upon at least 15 Business
                Days’ written notice to the other party if the other party commits a
                material breach of any of its other obligations under this Deed and
                fails
                to remedy that breach within twenty-one days of prior written notice
                of
                such breach. For the avoidance of doubt, a breach of clause 2, 3,
                6 or 9
                will be considered material.

            

    

     

    
      	
              10.4

            	
              Notwithstanding
                clause 10.3, if there is a dispute between the parties regarding
                an
                invoice issued pursuant to clause 4 of the Deed, and this dispute
                is not
                resolved within 7 days, the parties must immediately refer the dispute
                to
                the President or his nominee of the Institute of Chartered Accountants
                of
                Australia in New South Wales ("Expert") whose decision shall be final
                and
                binding on the parties and who will act as an expert and not an
                arbitrator. The parties will instruct the Expert
                to:

            

    

     

    
      	
            	
              (a)

            	
              resolve
                the dispute within the shortest practicable time after receiving
                submissions from the parties, which the parties must provide within
                5
                Business Days of the appointment of the
                Expert;

            

    

     

    
      	
            	
              (b)

            	
              resolve
                the matter as informally and inexpensively as possible, including,
                if the
                Expert deems it to be appropriate, by convening a meeting of the
                parties;
                and

            

    

     

    
      	
            	
              (c)

            	
              deliver
                a written report to the parties stating the decision of the Expert
                with
                respect to the dispute.

            

    

     

    
      	
              10.5

            	
              The
                unsuccessful party will bear all costs in respect of the Expert's
                determination (including without limitation the other party's
                costs).

            

    

     

    
      	
              10.6

            	
              If
                the Expert decides that the invoice issued pursuant to clause 4 of
                the
                Deed is payable, any continuing failure to pay the invoice within
                7 days
                after that decision is notified to the parties will constitute a
                material
                breach of the Deed.

            

    

     

    
      	
              10.7

            	
              Upon
                termination of this Deed
                all obligations, including all payments, outstanding at the date
                of the
                termination will remain outstanding notwithstanding such
                termination.
                Without limiting the foregoing, on termination the Licensee must
                transfer
                to the Licensor all company name, business name, trademark and domain
                name
                registrations containing the Licensor’s Intellectual Property Rights to
                the Licensor and the Licensee hereby appoints the Licensor as the
                Licensee’s attorney to sign any transfers of such rights to the Licensor
                or its nominee. The Licensee must also deliver to the Licensor a
                copy of
                all documents held by it containing the Licensor’s Intellectual Property
                Rights as well as all other information and documentation relating
                to the
                Licensee’s Business. On such date, the Licensor will also acquire from the
                Licensee all supplies held by the Licensee relating to the Licensee’s
                Business which are able to be utilised by the Licensor and are fit
                for
                sale at a price equal to the lesser of cost and market
                value.

            

    

     

    
      	
              10.8

            	
              All
                provisions of this Deed that expressly or by their nature, survive
                its
                termination will continue after its termination, including, without
                limitation, clauses 2.3, 2.4,2.7, 5.4, 7, 9, 11, 12 and
                13.

            

    

     

    
      
         

      

      
        -15-

        
          

        

      

      
         

      

    

     

    
      

      	
              11.

            	
              Guarantee
                and indemnity by Licensor's
                Guarantor

            

    

     

    
      	
              11.1

            	
              Guarantee

            

    

     

    In
      consideration of the Licensee entering into this Deed, the Licensor's Guarantor
      guarantees to the Licensee the due and punctual performance of all the
      obligations of the Licensor under this Deed.

    

    
      	
              11.2

            	
              Separate
                and principal obligations

            

    

     

    The
      guarantee and indemnity contained in this clause 11 is a principal obligation
      and is not ancillary or collateral to any other right or obligation. The
      Licensee need not take any steps against the Licensor or any other person (other
      than by serving a demand on the Licensor's Guarantor) before it enforces this
      guarantee and indemnity.

    

    
      	
              11.3

            	
              Obligations
                of guarantor unaffected

            

    

     

    The
      obligations of the Licensor's Guarantor under this guarantee and indemnity
      will
      not be affected in any way by any act, omission, matter or thing, which except
      for this provision might operate to release it from its obligations under this
      clause.

    

    
      	
              11.4

            	
              Indemnity

            

    

     

    As
      a
      separate and alternative obligation, any amount not paid by the Licensor's
      Guarantor under this clause on the basis of a guarantee is recoverable from
      the
      Licensor's Guarantor on the basis of an indemnity payable on
      demand.

    

    
      

    

    
      	
              12.

            	
              Notices

            

    

     

    
      	
              12.1

            	
              Requirements

            

    

     

    All
      notices must be:

     

    
      	
            	
              (a)

            	
              in
                legible writing and in English;

            

    

     

    
      	
            	
              (b)

            	
              addressed
                to the recipient at the address or facsimile number set out below
                or to
                any other address or facsimile number that a party may notify to
                the
                other:

            

    

     

    To
      the Licensor and the Licensor's Guarantor:

    

    
      	
              Address:

            	
              214-218
                Botany Road, Alexandria, NSW, 2015

            
	
              Attention:

            	
              Jack
                Vaisman/Richard Doyle

            
	 	 
	
              Facsimile
                no:

            	
              (02)
                9640 5186

            

    

    
      
         

      

      
        -16-

        
          

        

      

      
         

      

    

    

     

    To
      the Licensee and the Licensee's Principals:

    

    
      	
              Address:

            	
              Level
                2, Hudson House, 131 Macquarie Street, Sydney NSW 2000

            
	 	 
	
              Attention:

            	
              Richard
                Mare

            
	 	 
	
              Facsimile
                no:

            	
              (02)
                9258 9999

            

    

    

    
      	
            	
              (c)

            	
              signed
                by the party or, where the sender is a company, by an authorised
                officer
                or under the common seal of the sender;
                and

            

    

     

    
      	
            	
              (d)

            	
              sent
                to the recipient by hand, prepaid post (airmail if to or from a place
                outside Australia) or facsimile.

            

    

     

    
      	
              12.2

            	
              Receipt

            

    

     

    Without
      limiting any other means by which a party may be able to prove that a notice
      has
      been received by the other party, a notice will be considered to have been
      received:

     

    
      	
            	
              (a)

            	
              if
                sent by hand, when left at the address of the
                recipient;

            

    

     

    
      	
            	
              (b)

            	
              if
                sent by pre-paid post, 3 days (if posted within Australia to an address
                in
                Australia) or 10 days (if posted from one country to another) after
                the
                date of posting; or

            

    

     

    
      	
            	
              (c)

            	
              if
                sent by facsimile, on receipt by the sender of an acknowledgment
                or
                transmission report generated by the sender's machine indicating
                that the
                whole facsimile was sent to the recipient's facsimile
                number;

            

    

     

    but
      if a
      notice is served by hand, or is received by the recipient's facsimile, on a
      day
      that is not a Business Day, or after 5:00pm (recipient's local time) on a
      Business Day, the notice will be considered to have been received by the
      recipient at 9.00 am on the next Business Day. 

    
      

    

    
      	13.	
              General
                provisions

            

    

     

    
      	
              13.1

            	
              The
                Parties must do all acts and execute and deliver all other documents
                required to give full effect to this
                Deed.

            

    

     

    
      	
              13.2

            	
              This
                Deed may be amended only by a further agreement executed by all
                parties.

            

    

     

    
      	
              13.3

            	
              This
                Deed and any documents referred to in this Deed or executed in connection
                with this Deed are the entire agreement of the parties about the
                subject
                matter of this Deed and supersede all other representations, negotiations,
                arrangements, understandings or agreements and all other communications.
                No party has entered into this Deed relying on any representations
                made by or on behalf of the other, other than those expressly made
                in this
                Deed.

            

    

     

    
      
         

      

      
        -17-

        
          

        

      

      
         

      

    

    

     

    
      	
              13.4

            	
              Each
                party must, at its own expense,
                whenever reasonably requested by the other party,
                promptly do or arrange for others to do, everything reasonably necessary
                or desirable, including without limitation executing any other
                documentation or agreement, to give full effect to this Deed and
                the
                transactions contemplated by
                this Deed.

            

    

     

    
      	
              13.5

            	
              If
                a provision of this Deed is invalid or unenforceable in a
                jurisdiction:

            

    

     

    
      	
            	(a)	
              it
                is to be read down or severed in that jurisdiction to the extent
                of the
                invalidity or unenforceability; and

            

    

     

    
      	
            	(b)	
              that
                fact does not affect the validity or enforceability
                of:

            

    

     

    
      	 	
              (i)

            	
              that
                provision in another jurisdiction;
                or

            

    

     

    
      	 	
              (ii)

            	
              the
                remaining provisions.

            

    

     

    
      	
              13.6

            	
              This
                Deed may be signed in counterparts and all counterparts taken together
                constitute one document.

            

    

     

    
      	
              13.7

            	
              This
                Deed is governed by the laws of New South
                Wales.

            

    

     

    
      	
              13.8

            	
              Each
                party irrevocably and
                unconditionally:

            

    

     

    
      	
            	
              (a)

            	
              submits
                to the non-exclusive jurisdiction of the courts of New South Wales;
                and

            

    

     

    
      	
            	
              (b)

            	
              waives,
                without limitation, any claim or objection based on absence of
                jurisdiction or inconvenient forum.

            

    

     

    
      	
              13.9

            	
              A
                waiver of a provision of or of a right under this Deed is binding
                on the
                party granting the waiver only if it is given in writing and is signed
                by
                the party or an authorised officer of the party granting the
                waiver.

            

    

     

    
      	
              13.10

            	
              A
                waiver is effective only in the specific instance and for the specific
                purpose for which it is given.

            

    

     

    
      	
              13.11

            	
              A
                single or partial exercise of a right by a party does not preclude
                another
                exercise or attempted exercise of that right or the exercise of another
                right.

            

    

     

    
      	
              13.12

            	
              Failure
                by a party to exercise or delay in exercising a right does not prevent
                its
                exercise or operate as a waiver.

            

    

     

    
      

    

    
      	
               14.

            	
              Assignment

            

    

     

    
      	
              14.1

            	
              Subject
                to clause 14.3, this licence is personal to the Licensee and may
                not be
                assigned by it without the prior written consent of the Licensor
                (which
                may be withheld in the Licensor's absolute discretion). A change
                in the
                control of the Licensee which involves a change in the board or
                shareholding of 50% or more in aggregate will be deemed an assignment
                for
                the purposes of this Deed.

            

    

     

    
      	
              14.2

            	
              The
                Licensor may assign its rights under this Deed (but not its obligations)
                by written notice to the Licensee.

            

    

     

    
      
         

      

      
        -18-

        
          

        

      

      
         

      

    

    

     

    
      	
              14.3

            	
              The
                Licensee may assign its rights under this Deed (but not its obligations)
                to a party which, in the reasonable opinion of the Licensor, has
                the
                financial capacity, expertise and experience to carry on the Licensee’s
                Business subject to the following
                conditions:

            

    

     

    
      
        	 	
                (a)

              	
                the
                  Licensee must not be in breach of this Deed at the date it requests
                  such
                  assignment (and must not subsequently breach this Deed before the
                  date
                  such assignment is proposed to take
                  effect);

              

      

       

      
        	 	
                (b)

              	
                the
                  Licensee and its proposed assignee must enter into an assignment
                  deed in a
                  form reasonably required by the Licensor to give effect to such
                  assignment
                  pursuant to which the assignee must agree to be responsible for
                  all
                  obligations of the Licensee under this Deed, which Deed will be
                  prepared
                  at the reasonable cost of the
                  Licensee;

              

      

       

      
        	 	
                (c)

              	
                the
                  proposed assignee must not be a party which competes with the Licensor
                  in
                  relation to its business and must not be associated with Mr Graham
                  Meehan,
                  Mr Young Song or Mr Mark Ryan;

              

      

       

      
        	 	
                (d)

              	
                the
                  Licensee must pay the Licensor a transfer fee equal to 10% of the
                  Upfront
                  Licence Fee (ie currently US$100,000) as a pre-condition to such
                  assignment; and

              

      

       

      
        	 	
                (e)

              	
                the
                  Licensee must provide the Licensor with all information which it
                  has
                  available to it in relation to the proposed assignee which must
                  include
                  information regarding the financial capacity, expertise and experience
                  of
                  the proposed assignee.

              

      

       

    

    
      

      	
              15.

            	
              Option
                for additional Territories and right of first
                refusal

            

    

     

    
      	
              15.1

            	
              The
                Licensee has the right to extend the Territory to the following countries
                within the first year of the initial Term of this licence (in respect
                of
                which time will be of the essence) by paying the following upfront
                fees to
                the Licensor:

            

    

     

    
      
        	 	
                (a)

              	
                France
                  and Monaco - 1,000,000 pound
                  sterling;

              

      

       

      
        	 	
                (b)

              	
                Germany
                  - 1,000,000 pound sterling;

              

      

       

      
        	 	
                (c)

              	
                The
                  Netherlands, Belgium and Luxembourg - 1,000,000 pound
                  sterling;

              

      

       

      
        	 	
                (d)

              	
                Spain,
                  Andorra and Gibralter - 1,000,000 pound sterling;
                  and

              

      

       

      
        	 	
                (e)

              	
                Italy
                  - 1,000,000 pound sterling.

              

      

       

    

    
      	
              15.2

            	
              The
                Licensee may exercise its option under clause 15.1 in respect of
                any or
                all of the territories referred to in that clause. To exercise its
                option
                the Licensee must send written notice executed by it and each of
                the
                Licensee Principals together with a bank cheque in favour of the
                Licensor
                for the relevant upfront licence
                fee.

            

    

     

    
      
         

      

      
        -19-

        
          

        

      

      
         

      

    

    

     

    
      	
              15.3

            	
              If
                the Licensee exercises an option under clause 15.1 the minimum Royalty
                for
                each of the relevant territories referred to in that clause will
                be the
                minimum Royalty for the UK for the corresponding time set out in
                Schedule
                1 and schedule 1 will be deemed to have been amended accordingly.
                In
                addition, each of the provisions in this Deed which relate to a
                territorial area will be deemed to have been amended to incorporate
                that
                territory.

            

    

     

    
      	
              15.4

            	
              In
                addition to its rights under clause 15.1, the Licensee will have
                a right
                of first refusal during the Term to extend its licence to other countries
                in Western Europe.
                To
                give effect to this right, if the Licensor proposes to licence another
                area in Western Europe to a third party the Licensor agrees that
                it will
                provide the Licensee with the core commercial terms on which it is
                prepared to grant such a licence. This notice will constitute an
                offer
                from the Licensor to the Licensee which offer will remain open for
                45 days
                from receipt by the Licensee and which offer may be accepted by the
                Licensee and the Licensee’s Principals giving written notice to the
                Licensor and paying the upfront licence fee referred to in the commercial
                terms to the Licensor. If exercised, any such right will be on an
                exclusive basis. For the avoidance of doubt, nothing in this clause
                restricts or prohibits the Licensor or a subsidiary of the Licensor
                from
                opening operations in Western Europe (excluding the Territory) without
                complying with this clause prior to the Licensee exercising a right
                under
                this clause in relation to the relevant part of Western Europe (in
                which
                case the right in relation to that part of Western Europe will lapse)
                and
                nothing in this clause requires the Licensor to make any such offer
                in
                relation to a geographical area outside Western Europe. For the avoidance
                of doubt, if the Licensee exercises their right in relation to part
                of
                Western Europe, their right will be exclusive. If they do not, the
                Licensor may operate without restriction in that part of Western
                Europe.
                For the purposes of this Deed Western Europe means Portugal, Spain,
                Andorra, France, Italy, the Netherlands, Belgium, Luxembourg, Germany,
                Switzerland, Lichtenstein, Italy, Austria, Monaco and
                Gibralter.

            

    

     

    
      	
              15.5

            	
              For
                the avoidance of doubt, clause 5 applies to any payment made under
                this
                clause 15.

            

    

     

    
      

    

    
      	
               16.

            	
              Option
                to renew

            

    

     

    
      	
              16.1

            	
              The
                Licensee has the right to renew this Licence for 2 further periods
                of 5
                years each which options may be exercised in each case by giving
                the
                Licensor written notice executed by the Licensee and each of the
                Licensee’s Principals together with a bank cheque in favour of the
                Licensor for the Upfront Licence Fee (ie if no option has been exercised
                under clause 15.1, this fee will be US$1 million and if options have
                been
                exercised the fee will be US$1 million plus the aggregate of the
                upfront
                licence fees for the territories in clause 15.1 for which options
                have
                been exercised).

            

    

     

    
      	
              16.2

            	
              The
                options referred to in clause 16.1 may only be exercised by a date
                which
                is not less than 6 months prior to the expiry of the then current
                term in
                respect of which time will be of the
                essence.

            

    

     

    
      
         

      

      
        -20-

        
          

        

      

      
         

      

    

    

     

    
      	
              16.3

            	
              If
                the option is exercised, the terms of the licence will be identical
                to the
                current terms with the exception that the option in clause 15.1 will
                be
                deleted and that on exercise of the first option the number of options
                under clause 16.1 will be reduced to 1 and on exercise of the second
                option this clause 16 will be deleted in its
                entirety.

            

    

     

    
      	
              16.4

            	
              For
                the avoidance of doubt, clause 5 applies to any payment made under
                this
                clause 16 and the Licensor will be bound to proceed with a renewal
                if it
                is exercised in accordance with this
                clause.

            

    

     

    Executed
      as a
      deed

     

    

     

    

     

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Worldwide
                PE Patent Holdco Pty Limited

            	
              )

              )

            	 
	
              by
                its sole director and secretary:

            	
              )

            	 
	 	 	 
	 	 	 
	 	 	
               

            
	 	 	
              Signature
                of sole director/secretary

            
	 	 	 
	 	 	 
	 	 	
               

            
	 	 	
              Name
                of sole director/secretary (please print)

            

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              AMI
                Australia Holdings Pty Limited

            	
              )

            	 
	
              by
                its sole director and secretary:

            	
              )

            	 
	 	 	 
	 	 	 
	 	 	
               

            
	 	 	
              Signature
                of sole director/secretary

            
	 	 	 
	 	 	 
	 	 	
               

            
	 	 	
              Name
                of sole director/secretary (please print)

            

    

    

    
      
         

      

      
        -21-

        
          

        

      

      
         

      

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              AMI
                Group Limited

            	
              )

            	 
	
              by
                a director and secretary/director:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	
               

            
	
              Signature
                of secretary/director

            	 	
              Signature
                of director

            
	 	 	 
	 	 	 
	 
	 	
               

            
	
              Name
                of secretary/director (please print)

            	 	
              Name
                of director (please print) 

            

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Zascha
                Knochell

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	
               

            
	
              Signature
                of witness

            	 	
              Signature
                of Zascha
                Knochell

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Drew
                Shardlow

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	
               

            
	
              Signature
                of witness

            	 	
              Signature
                of Drew
                Shardlow

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    
      
         

      

      
        -22-

        
          

        

      

      
         

      

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              Richard
                Mare

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	
               

            
	
              Signature
                of witness

            	 	
              Signature
                of Richard
                Mare

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    

    
      	
              Signed,
                Sealed and Delivered by

            	
              )

            	 
	
              David
                McDonald

            	
              )

            	 
	
              in
                the presence of:

            	
              )

            	 
	 	 	 
	 	 	 
	 
	 	
               

            
	
              Signature
                of witness

            	 	
              Signature
                of David
                McDonald

            
	 	 	 
	 	 	 
	 
	 	 
	
              Name
                of witness (please print)

            	 	 

    

    

    

    
      
         

      

      
        -23-

        
          

        

      

      
         

      

    

    Schedule
      1

    

    Minimum
      Royalties

    

    Initial
      Term:

    

    Year
      1 -
      nil

    Year
      2 -
      100,000 pounds

    Year
      3 -
      150,000 pounds

    Year
      4 -
      200,000 pounds

    Year
      5 -
      250,000 pounds

    

    First
      Option Period:

    

    250,000
      pounds per annum

    

    Second
      Option Period:

    

    350,000
      pounds per annum

    

    These
      minimum amounts apply to the UK and are to be amended in accordance with clause
      15 in the event an option to extend the Territory is exercised under that
      clause.

    

    
      
         

      

      
        -24-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]