Document:

Exhibit 4.1

    
      

      

    

    
      

        EXHIBIT
          4.1

        

        INSEQ
          CORPORATION

        

        2005
          Stock and Stock Option Plan

        

        Article
          1. Establishment and Purpose

        

        1.1 
          Establishment
          of the Plan.
          Inseq
          Corporation, a Delaware corporation (the “Company” or “Inseq”), hereby
          establishes an incentive compensation plan (the “Plan”), as set forth in this
          document.

        

        1.2 
          Purpose
          of the Plan.
          The
          purpose of the Plan is to promote the success and enhance the value of
          the
          Company by linking the personal interests of Participants to those of
          the

        Company's
          shareholders, and by providing Participants with an incentive for outstanding
          performance. The Plan is further intended to attract and retain the services
          of
          Participants upon whose judgment, interest, and special efforts the successful
          operation of Inseq and its subsidiaries is dependent. 

        

        1.3 
          Effective
          Date of the Plan.
          The
          Plan shall become effective on November 23, 2005.

        

        Article
          2. Definitions

        

        Whenever
          used in the Plan, the following terms shall have the meanings set forth
          below
          and, when the meaning is intended, the initial letter of the word is
          capitalized:

        

        (a) 
          “Award” means, individually or collectively, a grant under this Plan of Stock,
          Nonqualified Stock Options, Incentive Stock Options, Restricted Stock,
          or
          Performance Shares.

        

        (b) 
          “Award Agreement” means an agreement which may be entered into by each
          Participant and the Company, setting forth the terms and provisions applicable
          to Awards granted to Participants under this Plan.

        

        (c) 
          “Board” or “Board of Directors” means the Company’s Board of
          Directors.

        

        (d) 
          “Cause” shall mean willful and gross misconduct on the part of an Eligible
          Person that is materially and demonstrably detrimental to the Company or
          any
          Subsidiary as determined by the Committee in its sole discretion.

        

        

        
          
            
            

          

          
            1

            
              

            

          

          
            
            

          

        

        

        

        (e) 
          “Change in Control” shall be deemed to have occurred if (i) any “person” (as
          such term is used in Sections 13(d) and 14(d) of the Exchange Act), other
          than
          (A) a person who on November 23, 2005 was the beneficial owner of more
          than 25%
          of the outstanding Shares, (B) a trustee or other fiduciary holding securities
          under an employee benefit plan of the Company or (C) a corporation owned
          directly or indirectly by the shareholders of the Company in substantially
          the
          same proportions as their ownership of stock of the Company, is or becomes
          the
“beneficial owner” (as defined in Rule 13d-3 under said Act), directly or
          indirectly, of securities of the Company representing fifty percent (50%)
          or
          more of the total voting power represented by the Company's then outstanding
          voting securities, or (ii) during any period of two (2) consecutive years,
          individuals who at the beginning of such period constitute the Board of
          Directors of the Company and any new Director whose election by the Board
          of
          Directors or nomination for election by the Company's shareholders was
          approved
          by a vote of at least two-thirds (2/3) of the Directors then still in office
          who
          either were Directors at the beginning of the period or whose election
          or
          nomination for election was previously so approved, cease for any reason
          to
          constitute a majority thereof, or (iii) the shareholders of the Company
          approve
          a merger or consolidation of the Company with any other corporation, other
          than
          a merger or consolidation which would result in the voting securities of
          the
          Company outstanding immediately prior thereto continuing to represent (either
          by
          remaining outstanding or by being converted into voting securities of the
          surviving entity) at least fifty-five percent (55%) of the total voting
          power
          represented by the voting securities of the Company or such surviving entity
          outstanding immediately after such merger or consolidation, or the shareholders
          of the Company approve a plan of complete liquidation of the Company or
          an
          agreement for the sale or disposition by the Company of all or substantially
          all
          the Company’s assets.

        

        (f) 
          “Code” means the Internal Revenue Code of 1986, as amended from time to
          time.

        

        (g) 
          “Committee” means the committee or committees, as specified in Article 3,
          appointed by the Board to administer the Plan with respect to grants of
          Awards.

        

        (h) 
          “Consultant” means a natural person under contract with the Company to provide
bona
          fide
          services
          to the Company which are not in connection with the offer or sale of securities
          in a capital-raising transaction and do not directly or indirectly promote
          or
          maintain a market for the Company’s securities.

        

        (i) 
          “Director” means any individual who is a member of the Inseq Board of
          Directors.

        

        (j)
           “Disability” shall mean the Participant’s inability to perform the
          Participant’s normal Employment functions due to any medically determinable
          physical or mental disability, which can last or has lasted 12 months or
          is
          expected to result in death.

        

        (k) 
          “Eligible Person” means an Employee, Director or Consultant.

        

        (l) 
          “Employee” means any officer or employee of the Company or of one of the
          Company's Subsidiaries. Directors who are not otherwise employed by the
          Company
          shall not be considered Employees under this Plan.

        

        

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

         

         

        (m) 
          “Employment,” with reference to an Employee, means the condition of being an
          officer or employee of the Company or one of its Subsidiaries. “Employment,”
          with reference to a Consultant, means the condition of being a Consultant.
          “Employment,” with reference to a Director, means the condition of being a
          Director. The change in status of an Eligible Person among the categories
          of
          Employee, Director and Consultant shall not be deemed a termination of
          Employment. 

        

        (n) 
          “Exchange Act” means the Securities Exchange Act of 1934, as amended from time
          to time, or any successor Act thereto.

        

        (o) 
          “Exercise Price” means the price at which a Share may be purchased by a
          Participant pursuant to an Option, as determined by the Committee.

        

        (p) 
          “Fair Market Value” shall mean (i) at such time as there are closing prices
          quoted for the Shares, the closing price of Shares on the relevant date,
          or (if
          there were no sales on such date) the next preceding trading date, all
          as
          reported on the principal market for the Shares, or (ii) at such time as
          there
          is a public market quoted without closing prices, the mean of the closing
          high
          bid and low asked on the relevant date, as reported on the principal market
          for
          the Shares, or (iii) at such time as there is no public market for the
          Shares,
          the value determined from time to time by the Board of Directors.

        

        (q) 
          “Incentive Stock Option” or “ISO” means an option to purchase Shares from Inseq,
          granted under this Plan, which is designated as an Incentive Stock Option
          and is
          intended to meet the requirements of Section 422 of the Code.

        

        (r) 
          “Insider” shall mean an Eligible Person who is, on the relevant date, an
          officer, director, or ten percent (10%) beneficial owner of the Company,
          as
          those terms are defined under Section 16 of the Exchange Act. 

        

        (s) 
          “Nonqualified Stock Option” or “NQSO” means the option to purchase Shares from
          Inseq, granted under this Plan, which is not intended to be an Incentive
          Stock
          Option.

        

        (t) 
          “Option” or “Stock Option” shall mean an Incentive Stock Option or a
          Nonqualified Stock Option.

        

        (u) 
          “Participant” means a person who holds an outstanding Award granted under the
          Plan.

        

        (v) 
          “Performance Share” shall mean an Award granted to an Eligible Person pursuant
          to Article 8 herein.

        

        (w) 
          “Plan” means this 2005 Stock and Stock Option Plan. 

        

        (x) 
          “Restricted Stock” means an Award of Stock granted to an Eligible Person
          pursuant to Article 7 herein.

        

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

         

        

        (y) 
          “Restriction Period” means the period during which Shares of Restricted Stock
          are subject to restrictions or conditions under Article 7.

        

        (z) 
          “Shares” or “Stock” means the shares of common stock of the
          Company.

        

        (aa) 
          “Subsidiary” shall mean any corporation in which the Company owns directly, or
          indirectly through subsidiaries, more than fifty percent (50%) of the total
          combined voting power of all classes of Stock, or any other entity (including,
          but not limited to, partnerships and joint ventures) in which the Company
          owns
          more than fifty percent (50%) of the combined equity thereof.

        

        Article
          3. Administration

        

        3.1 
          The
          Committee.
          The
          Plan and all Awards hereunder shall be administered by one or more Committees
          of
          the Board as may be appointed by the Board for this purpose. The Board
          may
          appoint a Committee specifically responsible for Awards to Insiders (the
          “Disinterested Committee”) where each Director on such Disinterested Committee
          is a “Non-Employee Director” (or any successor designation for determining who
          may administer plans, transactions or awards exempt under Section 16(b)
          of the
          Exchange Act), as that term is used in Rule 16b-3 under the Exchange Act,
          as
          that rule may be modified from time to time. If no specific Committee is
          appointed by the Board, then the Board in its entirety shall be the Committee.
          Any Committee may be replaced by the Board at any time.

        

        3.2 
          Authority
          of the Committee.
          The
          Committee shall have full power, except as limited by law and subject to
          the
          provisions herein, to select the recipients of Awards; to determine the
          size and
          types of Awards; to determine the terms and conditions of such Awards in
          a
          manner consistent with the Plan; to construe and interpret the Plan and
          any
          agreement or instrument entered into under the Plan; to establish, amend,
          or
          waive rules and regulations for the Plan's administration; and (subject
          to the
          provisions of Article 10 herein) to amend the terms and conditions of any
          outstanding Award to the extent such terms and conditions are within the
          discretion of the Committee as provided in the Plan. Further, the Committee
          shall make all other determinations which may be necessary or advisable
          for the
          administration of the Plan.

        

        No
          Award
          may be made under the Plan after December 31, 2014.

        

        All
          determinations and decisions made by the Committee pursuant to the provisions
          of
          the Plan and all related orders or resolutions of the Board shall be final,
          conclusive, and binding on all persons, including the Company, its stockholders,
          Eligible Persons, Participants, and their estates and
          beneficiaries.

        

        Subject
          to the terms of this Plan, the Committee is authorized, and shall not be
          limited
          in its discretion, to use any of the Performance Criteria specified herein
          in
          its determination of Awards under this Plan.

        

        

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

        
 

        Article
          4. Shares Subject to the Plan

        

        4.1 
          Number
          of Shares.
          Subject
          to adjustment as provided in Section 4.3 herein, the number of Shares available
          for grant under the Plan shall not exceed five hundred million (500,000,000)
          Shares. The Shares granted under this Plan may be either authorized but
          unissued
          or reacquired Shares. 

        

        Without
          limiting the discretion of the Committee under this section, unless otherwise
          provided by the Committee, the following rules will apply for purposes
          of the
          determination of the number of Shares available for grant under the Plan
          or
          compliance with the foregoing limits:

        

        (a) 
          The grant of Stock, a Stock Option or a Restricted Stock Award shall reduce
          the
          Shares available for grant under the Plan by the number of Shares subject
          to
          such Award. However, to the extent the Participant uses previously owned
          Shares
          to pay the Exercise Price or any taxes, or Shares are withheld to pay taxes,
          these Shares shall be available for regrant under the Plan.

        

        (b) 
          With respect to Performance Shares, the number of Performance Shares granted
          under the Plan shall be deducted from the number of Shares available for
          grant
          under the Plan. The number of Performance Shares which cannot be, or are
          not,
          converted into Shares and distributed to the Participant (after any applicable
          tax withholding) following the end of the Performance Period shall increase
          the
          number of Shares available for regrant under the Plan by an equal
          amount.

        

        4.2 
          Lapsed
          Awards.
          If any
          Award granted under this Plan is canceled, terminates, expires, or lapses
          for
          any reason, Shares subject to such Award shall be again available for the
          grant
          of an Award under the Plan.

        

        4.3 
          Adjustments
          in Authorized Plan Shares.
          In the
          event of any merger, reorganization, consolidation, recapitalization,
          separation, liquidation, Stock dividend, split-up, Share combination, or
          other
          change in the corporate structure of the Company affecting the Shares,
          an
          adjustment shall be made in the number and class of Shares which may be
          delivered under the Plan, and in the number and class of and/or price of
          Shares
          subject to outstanding Awards granted under the Plan, and/or the number
          of
          outstanding Options, Shares of Restricted Stock, and Performance Shares
          constituting outstanding Awards, as may be determined to be appropriate
          and
          equitable by the Committee, in its sole discretion, to prevent dilution
          or
          enlargement of rights.

        

        Article
          5. Stock Grant

        

        
          
            5.1 
              Grant
              of Stock.
              Subject
              to the terms and provisions of the Plan, the Board of Directors, at
              any time and
              from time to time, may grant Shares of Stock to Eligible Persons in
              such amounts
              and upon such terms and conditions as the Board of Directors shall
              determine.

          

        

        

        

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

        
 

        Article
          6. Stock Options

        

        6.1 
          Grant
          of Options.
          Subject
          to the terms and provisions of the Plan, Options may be granted to Eligible
          Persons at any time and from time to time, and under such terms and conditions,
          as shall be determined by the Committee. The Committee shall have discretion
          in
          determining the number of Shares subject to Options granted to each Eligible
          Person. The Committee may grant ISOs, NQSOs, or a combination thereof.
          ISOs,
          however, may be granted only to Employees and only if this Plan is approved
          by
          the shareholders of the Company within one year after it is adopted by
          the Board
          of Directors.

        

        6.2 
          Form
          of Issuance.
          Each
          Option grant may be issued in the form of an Award Agreement and/or may
          be
          recorded on the books and records of the Company for the account of the
          Participant. If an Option is not issued in the form of an Award Agreement,
          then
          the Option shall be deemed granted as determined by the Committee. The
          terms and
          conditions of an Option shall be set forth in the Award Agreement, in the
          notice
          of the issuance of the grant, or in such other documents as the Committee
          shall
          determine. Such terms and conditions shall include the Exercise Price,
          the
          duration of the Option, the number of Shares to which an Option pertains
          (unless
          otherwise provided by the Committee, each Option may be exercised to purchase
          one Share), and such other provisions as the Committee shall determine,
          including, but not limited to whether the Option is intended to be an ISO
          or a
          NQSO.

        

        6.3 
          Exercise
          Price.
          

        

        (a) 
          Unless a greater Exercise Price is determined by the Committee, the Exercise
          Price for each ISO awarded under this Plan shall be equal to one hundred
          percent
          (100%) of the Fair Market Value of a Share on the date the Option is granted.
          If, however, the Eligible Person owns stock possessing more than ten percent
          (10%) of the total combined voting power of all classes of stock of the
          Company
          or of its parent or subsidiary corporations, then the Exercise Price of
          an ISO
          shall be not less than one hundred ten percent (110%) of the Fair Market
          Value
          of a Share on the date the Option is granted.

        

        (b) 
          The Exercise Price of a NQSO shall be determined by the Committee in its
          sole
          discretion.

        

        6.4 
          Duration
          of Options.
          Each
          Option shall expire at such time as the Committee shall determine at the
          time of
          grant (which duration may be extended by the Committee); provided, however,
          that
          no Option shall be exercisable later than the tenth (10th)
          anniversary date of its grant. If, however, the Eligible Person owns stock
          possessing more than ten percent (10%) of the total combined voting power
          of all
          classes of stock of the Company or of its parent or subsidiary corporations,
          then no Option shall be exercisable later than the fifth (5th)
          anniversary date of its grant.

        

        

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

        
 

        6.5 
          Vesting
          of Options.
          Options
          shall vest at such times and under such terms and conditions as determined
          by
          the Committee; provided, however, unless a different vesting period is
          provided
          by the Committee at or before the grant of an Option, the Options will
          vest on
          the first anniversary of the grant.

        

        6.6 
          Exercise
          of Options.
          Options
          granted under the Plan shall be exercisable at such times and be subject
          to such
          restrictions and conditions as the Committee shall in each instance approve,
          which need not be the same for each grant or for each Participant.

        

        Options
          shall be exercised by delivery of a written notice (including e-mail and
          telecopies) to the Secretary of the Company (or, if so provided by the
          Company,
          to its designated agent), which notice shall be irrevocable, setting forth
          the
          exact number of Shares with respect to which the Option is being exercised
          and
          including with such notice payment of the Exercise Price. When Options
          have been
          transferred, the Company or its designated agent may require appropriate
          documentation that the person or persons exercising the Option, if other
          than
          the Participant, has the right to exercise the Option. No Option may be
          exercised with respect to a fraction of a Share.

        

        6.7 
          Payment.
          The
          Exercise Price shall be paid in full at the time of exercise. No Shares
          shall be
          issued or transferred until full payment has been received
          therefor.

        

        Payment
          may be made:

        

        (a) 
          in cash, or

        

        (b) 
          unless otherwise provided by the Committee at any time, and subject to
          such
          additional terms and conditions and/or modifications as the Committee or
          the
          Company may impose from time to time, and further subject to suspension
          or
          termination of this provision by the Committee or Company at any time,
          by
          delivery of Shares of Stock owned by the Participant in partial (if in
          partial
          payment, then together with cash) or full payment (if a fractional Share
          remains
          after payment of the Exercise Price in full by previously owned Shares,
          then the
          fractional Share shall be withheld for taxes); provided, however, as a
          condition
          to paying any part of the Exercise Price in Stock, at the time of exercise
          of
          the Option, the Participant must establish to the satisfaction of the Company
          that the Stock tendered to the Company has been held by the Participant
          for a
          minimum of six (6) months preceding the tender; or

        

        If
          payment is made by the delivery of Shares of Stock, the value of the Shares
          delivered shall be equal to the Fair Market Value of the Shares on the
          day
          preceding the date of exercise of the Option.

        

        6.8 
          Termination
          of Employment.
          Unless
          otherwise provided by the Committee, the following limitations on exercise
          of
          Options shall apply upon termination of Employment:

        

        

        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

        
 

        (a) 
          Termination
          by Death or Disability.
          In the
          event the Employment of a Participant shall terminate by reason of death
          or
          Disability, all outstanding Options granted to that Participant shall
          immediately vest as of the date of termination of Employment and may be
          exercised, if at all, no more than three (3) years from the date of the
          termination of Employment, unless the Options, by their terms, expire earlier.
          

        

        (b) 
          Termination for
          Cause.
          If the
          Employment of a Participant shall be terminated by the Company for Cause,
          all
          outstanding Options held by the Participant shall immediately be forfeited
          to
          the Company and no additional exercise period shall be allowed, regardless
          of
          the vested status of the Options.

        

        (c) 
          Retirement
          or Other Termination of Employment.
          If the
          Employment of a Participant shall terminate for any reason other than the
          reasons set forth in (a) or (b) above, all outstanding Options which are
          vested
          as of the effective date of termination of Employment may be exercised,
          if at
          all, no more than thirty (30) days from the date of termination of Employment,
          unless the Options, by their terms, expire earlier. In the event of the
          death of
          the Participant after termination of Employment, this paragraph (c) shall
          still
          apply and not paragraph (a), above.

        

        (d) 
          Options
          not Vested at Termination.
          Except
          as provided in paragraph (a) above, all Options held by the Participant
          which
          are not vested on or before the effective date of termination of Employment
          shall immediately be forfeited to the Company (and shall once again become
          available for grant under the Plan).

        

        (e) 
          Notwithstanding the foregoing, the Committee may, in its sole discretion,
          establish different terms and conditions pertaining to the effect of termination
          of Employment, but no such modification shall shorten the terms of Options
          issued prior to such modification.

        

        6.9 
          Restrictions
          on Exercise and Transfer of Options.
          Unless
          otherwise provided by the Committee:

        

        (a) 
          During the Participant's lifetime, the Participant’s Options shall be
          exercisable only by the Participant or by the Participant’s guardian or legal
          representative. After the death of the Participant, an Option shall only
          be
          exercised by the holder thereof (including, but not limited to, an executor
          or
          administrator of a decedent's estate) or his guardian or legal
          representative.

        

        (b) 
          No Option shall be transferable except: (i) in the case of the Participant,
          only
          upon the Participant’s death; and (ii) in the case of any holder after the
          Participant’s death, only by will or by the laws of descent and
          distribution.

        

        6.10 
          Competition.
          Notwithstanding anything in this Article 6 to the contrary, in the event
          the
          Committee determines, in its sole discretion, that a Participant is engaging
          in
          activity competitive with the Company, any Subsidiary, or any business
          in which
          any of the foregoing have a substantial interest (the “Inseq Businesses”), the
          Committee may cancel any Option granted to such Participant, whether or
          not
          vested, in whole or in part. Such cancellation shall be effective as of
          the date
          specified by the Committee. Competitive activity shall mean any business
          or
          activity if a substantially similar business activity is being carried
          on by an
          Inseq Business, including, but not limited to, representing or providing
          consulting services to any person or entity that is engaged in competition
          with
          a Inseq Business or that takes a position adverse to a Inseq Business.
          However,
          competitive activity shall not include, among other things, owning a
          nonsubstantial interest as a shareholder in a competing business.

        

        

        
          
            
            

          

          
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        Article
          7. Restricted Stock

        

        7.1  
          Grant
          of Restricted Stock.
          Subject
          to the terms and provisions of the Plan, the Committee, at any time and
          from
          time to time, may grant Shares of Restricted Stock to Eligible Persons
          in such
          amounts and upon such terms and conditions as the Committee shall determine.
          In
          addition to any other terms and conditions imposed by the Committee, vesting
          of
          Restricted Stock may be conditioned upon the attainment of Performance
          Goals
          based on Performance Criteria in the same manner as provided in Section
          8.3,
          herein with respect to Performance Shares. 

        

        7.2  
          Restricted
          Stock Agreement.
          The
          Committee may require, as a condition to an Award, that a recipient of
          a
          Restricted Stock Award enter into a Restricted Stock Award Agreement, setting
          forth the terms and conditions of the Award. In lieu of a Restricted Stock
          Award
          Agreement, the Committee may provide the terms and conditions of an Award
          in a
          notice to the Participant of the Award, on the Stock certificate representing
          the Restricted Stock, in the resolution approving the Award, or in such
          other
          manner as it deems appropriate.

        

        7.3 
          Transferability.
          Except
          as otherwise provided in this Article 7, the Shares of Restricted Stock
          granted
          herein may not be sold, transferred, pledged, assigned, or otherwise alienated
          or hypothecated until the end of the applicable Restriction Period established
          by the Committee, if any.

        

        7.4 
          Other
          Restrictions.
          The
          Committee may impose such other conditions and/or restrictions on any Shares
          of
          Restricted Stock granted pursuant to the Plan as it may deem advisable
          including, without limitation, a requirement that Participants pay a stipulated
          purchase price for each Share of Restricted Stock and/or restrictions under
          applicable Federal or state securities laws; and may legend the certificates
          representing Restricted Stock to give appropriate notice of such
          restrictions.

        

        The
          Company shall also have the right to retain the certificates representing
          Shares
          of Restricted Stock in the Company's possession until such time as all
          conditions and/or restrictions applicable to such Shares have been
          satisfied.

        

        7.5 
          Removal
          of Restrictions.
          Except
          as otherwise provided in this Article 7, Shares of Restricted Stock covered
          by
          each Restricted Stock grant made under the Plan shall become freely transferable
          by the Participant after the last day of the Restriction Period and completion
          of all conditions to vesting, if any. However, unless otherwise provided
          by the
          Committee, the Committee, in its sole discretion, shall have the right
          to
          immediately waive all or part of the restrictions and conditions with regard
          to
          all or part of the Shares held by any Participant at any time.

        

        
          
            
            

          

          
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        7.6 
          Voting
          Rights, Dividends and Other Distributions.
          During
          the Restriction Period, Participants holding Shares of Restricted Stock
          granted
          hereunder may exercise full voting rights and shall receive all regular
          cash
          dividends paid with respect to such Shares. Except as provided in the following
          sentence, in the sole discretion of the Committee, other cash dividends
          and
          other distributions paid to Participants with respect to Shares of Restricted
          Stock may be subject to the same restrictions and conditions as the Shares
          of
          Restricted Stock with respect to which they were paid. If any such dividends
          or
          distributions are paid in Shares, the Shares shall be subject to the same
          restrictions and conditions as the Shares of Restricted Stock with respect
          to
          which they were paid.

        

        7.7 
          Termination
          of Employment Due to Death or Disability.
          In the
          event the Employment of a Participant shall terminate by reason of death
          or
          Disability, unless otherwise provided by the Committee prior to or at the
          time
          of the Award, all Restriction Periods and all restrictions imposed on
          outstanding Shares of Restricted Stock held by the Participant shall immediately
          lapse and the Restricted Stock shall immediately become fully vested as
          of the
          date of termination of Employment.

        

        7.8 
          Termination
          of Employment for Other Reasons.
          If the
          Employment of a Participant shall terminate for any reason other than those
          specifically set forth in Section 7.7 herein, all Shares of Restricted
          Stock
          held by the Participant which are not vested as of the effective date of
          termination of Employment immediately shall be forfeited and returned to
          the
          Company.

        

        Article
          8. Performance Shares

        

        8.1 
          Grants
          of Performance Shares.
          A
          Performance Share is equivalent in value to a Share of Stock. Subject to
          the
          terms of the Plan, Performance Shares may be granted to Eligible Persons
          at any
          time and from time to time, as determined by the Committee. The Committee
          shall
          have complete discretion in determining the number of Performance Shares
          awarded
          to each Participant.

        

        8.2 
          Performance
          Period.
          The
          Performance Period for Performance Shares is the period over which the
          Performance Goals are measured. The Performance Period is set by the Committee
          for each Award; however, in no event shall an Award have a Performance
          Period of
          less than six months.

        

        8.3 
          Performance
          Goals.
          For
          each Award of Performance Shares, the Committee shall establish performance
          objectives (“Performance Goals”) for the Company, its Subsidiaries, and/or
          divisions of any of foregoing, based on the Performance Criteria and other
          factors set forth below. Performance Goals shall include payout tables,
          formulas
          or other standards to be used in determining the extent to which the Performance
          Goals are met, and, if met, the number of Performance Shares distributed
          to
          Participants in accordance with Section 8.5. All Performance Shares which
          may
          not be converted under the Performance Goals or which are reduced by the
          Committee under Section 8.5 or which may not be converted for any other
          reason
          after the end of the Performance Period shall be canceled at the time they
          would
          otherwise be distributable. When the Committee desires an Award to qualify
          under
          Section 162(m) of the Code, as amended, the Committee shall establish the
          Performance Goals for the respective Performance Shares prior to or within
          90
          days of the beginning of the service relating to such Performance Goal,
          and not
          later than after 25% of such period of service has elapsed. For all other
          Awards, the Performance Goals must be established before the end of the
          respective Performance Period.

        

        

        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

         

        

        (a) 
          The Performance Criteria which the Committee is authorized to use, in its
          sole
          discretion, are any of the following criteria or any combination
          thereof:

        

        
          	 	
                  (1)
                    

                	
                  Financial
                    performance of the Company (on a consolidated basis), of one
                    or more of
                    its Subsidiaries, and/or a division of any of the foregoing.
                    Such
                    financial performance may be based on net income and/or Value
                    Added
                    (after-tax cash operating profit less depreciation and less a
                    capital
                    charge).

                

        

        

        
          	 	
                  (2)

                	
                  Service
                    performance of the Company (on a consolidated basis), of one
                    or more of
                    its Subsidiaries, and/or of a division of any of the foregoing.
                    Such
                    service performance may be based upon measured customer perceptions
                    of
                    service quality.

                

        

        

        
          	 	
                  (3)

                	
                  The
                    Company’s Stock price; return on shareholders' equity; total shareholder
                    return (Stock price appreciation plus dividends, assuming the
                    reinvestment
                    of dividends); and/or earnings per
                    share.

                

        

        

        
          	 	
                  (4)

                	
                  With
                    respect to the Company (on a consolidated basis), to one or more
                    of its
                    Subsidiaries, and/or to a division of any of the foregoing: sales,
                    costs,
                    market share of a product or service, return on net assets, return
                    on
                    assets, return on capital, profit margin, and/or operating revenues,
                    expenses or earnings.

                

        

        

        
          	 	
                  (5)

                	
                  Completion
                    of a marketing or development project as defined in the Award
                    Agreement.

                

        

        

        (b) 
          Except to the extent otherwise provided by the Committee in full or in
          part, if
          any of the following events occur during a Performance Period and would
          directly
          affect the determination of whether or the extent to which Performance
          Goals are
          met, they shall be disregarded in any such computation: changes in accounting
          principles; extraordinary items; changes in tax laws affecting net income
          and/or
          Value Added; natural disasters, including floods, hurricanes, and earthquakes;
          and intentionally inflicted damage to property which directly or indirectly
          damages the property of the Company or its Subsidiaries. No such adjustment
          shall be made to the extent such adjustment would cause the Performance
          Shares
          to fail to satisfy the performance-based exemption of Section 162(m) of
          the
          Code.

        

        8.4 
          Dividend
          Equivalents on Performance Shares.
          Unless
          reduced or eliminated by the Committee, a cash payment in an amount equal
          to the
          dividend payable on one Share will be made to each Participant for each
          Performance Share which on the record date for the dividend had been awarded
          to
          the Participant and not converted, distributed or canceled.

        

        

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

         

        

        8.5 
          Form
          and Timing of Payment of Performance Shares.
          As soon
          as practicable after the applicable Performance Period has ended and all
          other
          conditions (other than Committee actions) to conversion and distribution
          of a
          Performance Share Award have been satisfied (or, if applicable, at such
          other
          time determined by the Committee at or before the establishment of the
          Performance Goals for such Performance Period), the Committee shall determine
          whether and the extent to which the Performance Goals were met for the
          applicable Performance Shares. If Performance Goals have been met, then
          the
          number of Performance Shares to be converted into Stock and distributed
          to the
          Participants shall be determined in accordance with the Performance Goals
          for
          such Awards, subject to any limits imposed by the Committee. Conversion
          of
          Performance Shares shall occur as soon as reasonably administratively possible
          following the determination of the number of Shares to which the Participant
          is
          entitled. At any time prior to the distribution of the Performance Shares,
          unless otherwise provided by the Committee, the Committee shall have the
          authority to reduce or eliminate the number of Performance Shares to be
          converted .

        

        8.6 
          Termination
          of Employment Due to Death or Disability.
          Unless
          otherwise provided by the Committee prior to or at the time of an Award,
          if the
          Employment of a Participant shall terminate by reason of death or Disability,
          the Participant shall receive a distribution of all outstanding Performance
          Shares calculated as if all unfinished Performance Periods had ended with
          100%
          of the Performance Goals achieved, payable in the year following the date
          of
          termination of Employment. 

        

        8.7 
          Termination
          of Employment for Other Reasons.
          If the
          Employment of a Participant shall terminate for other than a reason set
          forth in
          Section 8.6 (and other than for Cause), the number of Performance Shares
          to be
          converted and distributed shall be converted and distributed based upon
          the
          achievement of the Performance Goals and in accordance with all other terms
          of
          the Award and the Plan; however, the Participant may receive no more than
          a
          prorated

        payout
          of
          all Performance Shares, based on the portions of the respective Performance
          Periods that have been completed.

        

        8.8 
          Termination
          of Employment for Cause.
          In the
          event that a Participant’s Employment shall be terminated by the Company for
          Cause, all Performance Shares shall be forfeited by the Participant to
          the
          Company.

        

        8.9 
          Nontransferability.
          Performance Shares may not be sold, transferred, pledged, assigned, or
          otherwise
          alienated or hypothecated, other than by will or laws of intestacy.

        

        Article
          9. Employee Matters

        

        9.1 
          Employment
          Not Guaranteed.
          Nothing
          in the Plan shall interfere with or limit in any way the right of the Company
          or
          any Subsidiary to terminate any Participant's Employment at any time, nor
          confer
          upon any Participant any right to continue in the employ of the Company
          or one
          of its Subsidiaries.

        

        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

        
 

        9.2 
          Participation.
          No
          Eligible Person shall have the right to be selected to receive an Award
          under
          this Plan, or, having been so selected, to be selected to receive a future
          Award.

        

        9.3 
          Claims
          and Appeals.
          Any
          claim under the Plan by a Participant or anyone claiming through a Participant
          shall be presented to the Committee. Any person whose claim under the Plan
          has
          been denied may, within sixty (60) days after receipt of notice of denial,
          submit to the Committee a written request for review of the decision denying
          the
          claim. The Committee shall determine conclusively for all parties all questions
          arising in the administration of the Plan.

        

        Article
          10. Amendment, Modification, and Termination

        

        10.1 
          Amendment,
          Modification, and Termination.
          The
          Board of Directors alone shall have the right to alter, amend or revoke
          the Plan
          or any part thereof at any time and from time to time, provided, however,
          that
          the Board of Directors may not, without the approval of the holders of
          a
          majority of the voting Shares, make any alteration or amendment to the
          Plan
          which changes the aggregate number of shares of Common Stock which may
          be issued
          under the Plan, extend the term of the Plan, or change the employees or
          class of
          employees eligible to receive Awards thereunder. The Board may at any time
          suspend or terminate the Plan in whole or in part. 

        

        10.2 
          Awards
          Previously Granted.
          No
          termination, amendment, or modification of the Plan shall adversely affect
          in
          any material way any Award previously granted under the Plan, without the
          written consent of the Participant holding such Award.

        

        Article
          11. Change in Control

        

        Upon
          the
          occurrence of a Change in Control:

        

        (a) 
          Any and all Options granted hereunder immediately shall become vested and
          exercisable;

        

        (b) 
          Any Restriction Periods and all restrictions imposed on Restricted Shares
          shall
          lapse and they shall immediately become fully vested;

        

        (c) 
          The 100% Performance Goal for all Performance Shares relating to incomplete
          Performance Periods shall be deemed to have been fully achieved and shall
          be
          converted and distributed in accordance with all other terms of the Award
          and
          this Plan; provided, however,

        notwithstanding
          anything to the contrary in this Plan, no outstanding Performance Share
          may be
          reduced.

        

        Article
          12. Withholding

        

        12.1 
          Tax
          Withholding.
          The
          Company shall deduct or withhold an amount sufficient to satisfy Federal,
          state,
          and local taxes (including the Participant's employment tax obligations)
          required by law to be withheld with respect to any taxable event arising
          or as a
          result of this Plan (“Withholding Taxes”).

        

        

        
          
            
            

          

          
            13

            
              

            

          

          
            
            

          

        

        
 

        12.2 
          Share
          Withholding.
          With
          respect to withholding required upon the exercise of Options, upon the
          lapse of
          restrictions on Restricted Stock, upon the distribution of Performance
          Shares in
          the form of Stock, or upon any other taxable event hereunder involving
          the
          transfer of Stock to a Participant, the Company shall withhold Stock having
          a
          Fair Market Value on the date the tax is to be determined in an amount
          equal to
          the Withholding Taxes on such Stock. Any fractional Share remaining after
          the
          withholding shall be withheld as additional Federal withholding.

        

        Prior
          to
          the end of any Performance Period a Participant may elect to have a greater
          amount of Stock withheld from the distribution of Performance Shares to
          pay
          withholding taxes; provided, however, the Committee may prohibit or limit
          any
          individual election or all such elections at any time. 

        

        12.3 
          Payment
          In Lieu of Share Withholding.
          In any
          situation in which the Company would be required to withhold Stock pursuant
          to
§12.2 above, the Participant may, in lieu of all or part of such withholding,
          remit to the Company an amount in cash sufficient to satisfy the federal,
          state
          and local withholding tax requirements or may direct the Company to withhold
          from other amounts payable to the Participant, including salary. 

        

        Article
          13. Successors

        

        All
          obligations of the Company under the Plan, with respect to Awards granted
          hereunder, shall be binding on any successor to the Company, whether the
          existence of such successor is the result of a direct or indirect purchase,
          merger, consolidation, or otherwise, of all or substantially all of the
          business
          and/or assets of the Company.

        

        Article
          14. Legal Construction

        

        14.1 
          Severability.
          In the
          event any provision of the Plan shall be held illegal or invalid for any
          reason,
          the illegality or invalidity shall not affect the remaining parts of the
          Plan,
          and the Plan shall be construed and enforced as if the illegal or invalid
          provision had not been included.

        

        14.2 
          Requirements
          of Law.
          The
          granting of Awards and the issuance of Shares under the Plan shall be subject
          to
          all applicable laws, rules, and regulations, and to such approvals by any
          governmental agencies or national securities exchanges as may be
          required.

        

        14.3 
          Securities
          Law Compliance.
          With
          respect to Insiders, transactions under this Plan are intended to comply
          with
          all applicable conditions of Rule 16b-3 or its successors under the Exchange
          Act. To the extent any provision of the plan or action by the Committee
          fails to
          comply with a condition of Rule 16b-3 or its successors, it shall not apply
          to
          the Insiders or transactions thereby.

        

        14.4 
          Governing
          Law.
          To the
          extent not preempted by Federal law, the Plan, and all agreements hereunder,
          shall be construed in accordance with and governed by the laws of the State
          of
          Delaware.

         

        
 

        
          *    
            *     *    
            *    
            *

           

           

        

        14Exhibit 10.1

 

	
  

  	
   

  	
  PROMOTER ORIGINAL

  

 

 

SANCTION
AGREEMENT

NASCAR
NEXTEL Cup Series

 

	
  EVENT NAME:

  	
   

  	
  MBNA
  RacePoints “400”

  
	
   

  	
   

  	
   

  
	
  DATE OF EVENT:

  	
   

  	
  June 4,
  2006

  
	
   

  	
   

  	
   

  
	
  PROMOTER:

  	
   

  	
  Dover
  International Speedway, Inc.

  
	
   

  	
   

  	
   

  
	
  TRACK:

  	
   

  	
  Dover
  International Speedway

  

 

 

P.O. BOX
2875 • DAYTONA BEACH, FLORIDA 32120-2875
• (386) 253-0611

www.nascar.com

 

 

SANCTION AGREEMENT

 

This
Sanction Agreement (“Agreement”) between National Association for Stock Car
Auto Racing, Inc. (“NASCAR”), a corporation with its principal offices
located in Daytona Beach, Florida, and PROMOTER (identified on Exhibit 1
to this Agreement), is entered into and is effective as of the Effective Date
(specified on Exhibit 1 to this Agreement).

 

RECITALS

 

WHEREAS, NASCAR sanctions and conducts, among other
things, stock car racing events and series of events throughout the United
States and the world; and

 

WHEREAS,
PROMOTER owns and/or controls the Facility (as hereinafter defined); and

 

WHEREAS, PROMOTER wishes to have NASCAR sanction and
conduct a stock car racing event, as part of the 2006 NASCAR NEXTEL Cup Series,
at the Facility; and

 

WHEREAS, NASCAR is willing to sanction and conduct
such event for the year 2006 in accordance with the terms of this Agreement;

 

NOW, THEREFORE, NASCAR and PROMOTER, in consideration
of the mutual promises set forth below, and intending to be legally bound,
agree as follows:

 

AGREEMENT

 

1.                   Definitions. In addition to the definitions of
words that may appear in other locations in this Agreement, including the
Recitals above, the following words have the following meanings when used in
this Agreement:

 

a)                                      “Additional
Awards” means any monetary or non-monetary award by, or contracted through, PROMOTER,
for distribution based upon the Event, other than (i) purse, (ii) point
fund, (iii) Winner’s Circle and Plan awards, and (iv) the entry award for
the NASCAR NEXTEL Cup Series Champion.

 

b)                                     “Ancillary
Rights” means (i) any and all rights to film, tape, photograph, capture,
overhear, collect or record, and to simultaneously or thereafter reproduce,
broadcast, transmit or distribute, by any means, process, medium or device,
whether or not currently in existence, all images, sounds and electronic data
generated during and in connection with the Events, and (ii) any and all
copyrights and all other intellectual property and proprietary rights worldwide
in and to such images, sounds and electronic data, any recording, broadcast or
transmission thereof, and any work derived therefrom, provided, however,
that “Ancillary Rights” does not include “Live Broadcast Rights” or rights in
or to NASCAR Intellectual Property or Third Party Marks, but shall include
rights in or to a live transmission pursuant to a specialty subscription cable
package or product of one or more Events (such as pay-per-view or the like).

 

 

c)                                      “Competition”
means that portion of the Event during which the actual racing competition and
all competitive activity related thereto occurs, including registration,
inspections, time trials, practice runs, post-race inspections, either on the
date(s) specified in Exhibit 1 hereto or on any postponed dates.

 

d)                                     “Competitor”
has the same meaning as that term has in the Rule Book.

 

e)                                      “Event”
means the Competition listed on Exhibit 1 to this Agreement and all other
activity at the Facility during the period of time commencing 48 hours prior to
the beginning of registration for the Competition and ending 24 hours after
such Competition.

 

f)                                        “Event
Broadcast Income” means an amount calculated by multiplying the percentage
listed in Exhibit 1 of this Agreement by all Live Broadcast Income
received by NASCAR or the NASCAR Rights Affiliate(s) pursuant to Live Broadcast
Contract(s) during the calendar year in which the Event is held.

 

g)                                     “Event
Net Ancillary Rights Income” means an amount calculated by multiplying the
percentage set forth in Exhibit 1 of this Agreement by all Net Ancillary
Rights Income received during the calendar year in which the Event is held.

 

h)                                     “Facility”
means the racetrack listed on Exhibit 1 to this Agreement, the premises
upon which the racetrack is located and surrounding the racetrack, all
buildings and other structures thereon, and all airspace above the racetrack
and surrounding premises, to the extent owned or controlled by PROMOTER.

 

i)                                         “Live
Broadcast” means the live transmission of the performance of a NASCAR NEXTEL
Cup Series event, and any replay(s) thereof, by broadcast television
signal or cable television signal within the United States, its territories,
possessions and commonwealths.

 

j)                                         “Live
Broadcast Rights” means any and all rights to engage in a Live Broadcast and
directly related broadcast activity (for example, tape-delayed broadcasts,
single re-broadcasts and support programming).

 

k)                                      “Live
Broadcast Contract” means any contract, agreement or other enforceable
obligation, whether oral or written, entered into between NASCAR or a NASCAR
Rights Affiliate and any other entity or entities, for the license, assignment
or other transfer of any Live Broadcast Rights.

 

l)                                         “Live
Broadcast Income” means all monies actually received by NASCAR or a NASCAR
Rights Affiliate pursuant to a Live Broadcast Contract and attributed by NASCAR
to the Live Broadcast of NASCAR NEXTEL Cup Series events during the
calendar year in which the Event is held, reduced by any amounts that NASCAR or
a NASCAR Rights Affiliate is obligated to pay to third party broadcasters
pursuant to agreements relating to their broadcast and option rights for NASCAR
NEXTEL Cup Series and Busch Series events after 2000.

 

m)                                   “NASCAR
Intellectual Property” means all trademarks, service marks, trade names,
patents, copyrights, domain names, trade dress and the like owned by NASCAR,
excluding Live Broadcast Rights and Ancillary Rights and any work derived
therefrom.

 

n)                                     ‘‘NASCAR
Rights Affiliate” means any corporation, partnership or other legal entity that
is (1) an affiliate or an assignee of NASCAR or controlled, directly or
indirectly by NASCAR, and (2) engaged solely in the business of exploiting
Live Broadcast Rights or Ancillary Rights for purposes of generating Live
Broadcast Income and Net Ancillary Rights Income and performing all necessary
activities incident thereto.

 

2

 

o)                                     ‘‘Net
Ancillary Rights Income” means the aggregate gross revenue received by NASCAR
and all NASCAR Rights Affiliates, during the calendar year in which the Event
is held, as a result of the exploitation of Ancillary Rights and Live Broadcast
Rights, reduced by (i) Live Broadcast Income received during the relevant
calendar year, and (ii) the aggregate of all reasonable deductions of
NASCAR or the NASCAR Rights Affiliates, including but not limited to ordinary
business expenses, amortization, depreciation and federal and state income and
property taxes; provided, however, that in no event shall Net
Ancillary Rights Income include income, revenue or any other consideration
received or generated by NASCAR for the license of, assignment of, or other
transfer of rights in or to, any NASCAR Intellectual Property, including
without limitation transfers in connection with the sale, advertising or
promotion by NASCAR or any third party of products or services of any nature.

 

p)                                     “Official”
means “NASCAR Officials” and “NASCAR Supervisory Officials” as those terms are defined
in the Rule Book.

 

q)                                     “Rule Book”
means the Rule Book published by NASCAR for NASCAR NEXTEL Cup Series events
that is in effect at the time of the Event, and any amendments thereto and
other special rules published by NASCAR specifically for the Event.

 

NASCAR’S GENERAL OBLIGATIONS

 

2.                   Sanction
For Event. NASCAR hereby grants its sanction to PROMOTER for the
Competition. So long as such sanction is in effect and not terminated, PROMOTER
shall organize, promote and hold the Event, including the Competition, in
accordance with this Agreement.

 

3.                   Conduct
and Control Over Competition. NASCAR shall conduct the Competition,
through its officers and designated Officials, in accordance with the Rule Book,
this Agreement, and any amendments to the Rule Book. NASCAR shall have
sole control over the conduct of the Competition in all of its phases.
Interpretation and application of the Rule Book are committed to NASCAR’s
sole discretion, and are final and unreviewable except to the extent provided
in the Rule Book. PROMOTER shall cooperate fully with NASCAR to permit it
to conduct the Competition in accordance with this Agreement and the Rule Book.

 

4.                   Postponement.   NASCAR will attempt to consult with PROMOTER
regarding postponement of a Competition, but the decision to postpone a Competition
and the selection of the postponed date will be made by NASCAR and will be
binding on PROMOTER. PROMOTER shall not publish or otherwise announce a
postponement of the Competition and/or a postponed date for the Competition
without the prior written approval of NASCAR. 
If PROMOTER makes such a publication or announcement without NASCAR’s
prior written approval, it shall not be binding upon NASCAR and PROMOTER shall
hold NASCAR harmless for any and all expense, loss or damage caused by such
publication or announcement.

 

PROMOTER’S GENERAL OBLIGATIONS

 

5.                   Control
and Maintenance of the Facility. PROMOTER represents and warrants that,
in connection with the Event, it currently has and will maintain sole control
of the Facility, and that it has and will maintain full authority to permit the
Event to be conducted at the Facility. 
PROMOTER shall maintain the Facility in good repair at all times relevant
to the Event, ready for use by Competitors, Officials, NASCAR, sponsors, and
persons or entities involved in the Live Broadcast of or creation or
exploitation of Ancillary Rights at the Event. PROMOTER is solely responsible
and liable for the safety of such persons while on, entering or leaving the
Facility. PROMOTER warrants that the Facility is and will remain in a condition
suitable for the Event, that the racing surface of the track will not be
substantially altered or changed (whether by painting, sealing, resurfacing or
otherwise) without the prior written consent of NASCAR and that the PROMOTER
will advise NASCAR in advance of any and all planned improvements or
alterations to those portions of the facility that are related to the
competition.

 

3

 

6.                   Repairs
and Upgrades to the Facility. Upon request, PROMOTER shall provide
NASCAR or its designated representative(s) full access to the Facility. If
NASCAR determines that the Facility or any part of it is in a condition
unsatisfactory for the Event, including without limitation the surface of the
racetrack, the garage area, the pit area, race control, timing and scoring and
areas, registration areas, structures or equipment used for the Live Broadcast
of or the creation or exploitation of Ancillary Rights at the Event, PROMOTER
shall repair, replace or upgrade the unsatisfactory portion to the satisfaction
of NASCAR.  If NASCAR determines that it
is necessary to resurface the racetrack, such resurfacing shall be completed by
PROMOTER sufficiently in advance of the Event to allow for tire and private car
testing. If NASCAR determines that there is insufficient time to place the
racetrack, or any other portion of the Facility, in a condition suitable for
the Event, NASCAR may postpone or cancel the Event. Notwithstanding the foregoing
or any other term of this Agreement, PROMOTER is solely responsible for the
safety of the Facility and is solely liable for injury or damage caused by or
arising out of the condition of the Facility.

 

7.                   Compliance
with Laws. PROMOTER shall comply with all
local, state and federal laws and regulations applicable to the organization,
promotion and occurrence of the Event and shall obtain all necessary licenses,
permits or other governmental approvals required for the Event. PROMOTER shall
make all appropriate filings of forms or other documents required by federal,
state or local laws in connection with the Event. PROMOTER shall be solely
responsible for compliance with any and all federal, state or other tax
information reporting and withholding obligations (including, but not limited
to, Federal Form 1099) with respect to the purse or other amounts payable
with respect to the Event.

 

8.                   Control
of and Responsibility for the Public. PROMOTER is solely responsible
and liable for the safety of the public during the Event. PROMOTER shall furnish
adequate facilities, personnel (including security personnel), equipment and
services for accommodating and controlling the public and adhering to NASCAR’s
required security standards during the Event provided that PROMOTER is given a
copy of such required security standards prior to the Event. PROMOTER is solely
responsible for the condition, actions and operations of such facilities,
personnel, equipment and services before, during and after the Event.

 

9.                   Personnel and Equipment for the Conduct of the Event
and Live Broadcast and Ancillary Rights Activities. PROMOTER
shall provide access to the Facility for any person or entity involved in the
conduct of the Event, including without limitation NASCAR employees, agents and
Officials, and shall furnish adequate facilities, support personnel, equipment,
and related security, for use by NASCAR in the exercise of NASCAR’s rights and
obligations, as they may be requested by NASCAR from time to time, including
but not limited to facilities for office administration, registration, timing,
scoring, car inspection, race direction, officiating and prize money
distribution. PROMOTER shall also provide access to the Facility for any person
or entity involved in the Live Broadcast of or the creation or exploitation of
Ancillary Rights at the Event, and adequate facilities, support personnel,
equipment, and related security, for use by such persons or entities in the
performance of their duties, as they may be requested by NASCAR from time to
time. Without in any way limiting the foregoing, PROMOTER shall, with respect
to the Event:

 

a)                                      provide
one (1) or more television monitors, in locations to be specified by
NASCAR, with all related equipment necessary for such monitors to be connected
to video and audio equipment used by the entity principally involved in the
Live Broadcast of the Event, in order to provide to NASCAR Officials live video
on such monitors and the ability to switch instantaneously its view on the
monitors among the different camera locations used by such entity, at all times
during the Event when all or a portion of the Event is being videotaped,
broadcast, monitored and/or recorded;

 

b)                                     provide
NASCAR with two (2) pace vehicles with automatic transmissions, each with the
NASCAR mark or logo (as designated by NASCAR) displayed on the side in a manner
and size which is visible to all persons on the racetrack, in the viewing area
and in all locations where NASCAR Officials are visually monitoring the Event;

 

c)                                      provide
NASCAR prior to the Event with a list of the track radio frequencies to be used
for the Event, including but not limited to frequencies to be used for
maintenance, police and security personnel;

 

4

 

d)                                     cooperate
with NASCAR in pre-race and Victory Lane ceremonies, award presentation and photographs,
including without limitation ensuring that NASCAR has reasonable time
immediately following the Competition for Victory Lane ceremonies, NASCAR award
presentations and NASCAR sponsor recognitions;

 

e)                                      have
readily available quantities of oil dry acceptable to NASCAR when the track
opens for practice and at all other times during the Event, and adequate
personnel and equipment to spread the oil dry at NASCAR’s direction;

 

f)                                        provide
personnel to secure the entry into the pits and garage areas during competition
periods at NASCAR’s direction;

 

g)                                     provide
personnel to secure the garage area on a continuous, 24-hour/day basis
beginning the first day the Facility is open for inspection and ending when
released by the NASCAR NEXTEL Cup Series Director;

 

h)                                     deliver
to the garage area before the morning of raceday twice the number of chairs
(minimum of 150) as cars starting in the race for use by Competitors at the
pre-race meeting; provide an enclosed, climate-controlled area of adequate
size, as determined by NASCAR, in the garage area in which NASCAR can conduct
pre-race meetings, safety meetings and other assemblies during the Event;

 

i)                                         line
and number each pit with appropriate paint, line and paint traffic lanes in the
garage and garage area when and where needed, and repaint all start/finish,
scoring, third turn and re-entry cutoff lines;

 

j)                                         coordinate
with NASCAR all tours of the garage areas, including the times, number of
participants and other arrangements;

 

k)                                      provide
a suitable location (as determined by NASCAR) for a minimum of four (4) large
trailers containing NASCAR equipment and facilities, adequate electricity
(including without limitation 220 volts 100 amps services with female range
outlets for the NASCAR trailers), air conditioning, heat, telephone (including
a track phone extension) and water facilities as requested by NASCAR;

 

l)                                         coordinate
with NASCAR to ensure that NASCAR has a minimum of ten (10) minutes
immediately before, during or after driver introductions for NASCAR awards
presentations;

 

m)                                   provide
a control tower of adequate size, as determined by NASCAR, with an unobstructed
view of the racing surface for the purpose of monitoring the Event by NASCAR
personnel and others, with electricity, air conditioning, heat, telephone
(including a track phone extension), a sufficient number of chairs (minimum of
14) with cushions for all operational personnel, television monitors for both
feeds (as set forth in Section 9.a)), water facilities and other
utilities, supplies and equipment as requested by NASCAR;

 

n)                                     provide
a registration facility of adequate size in the garage area, with electricity,
air conditioning, heat, telephone (including a track phone extension), chairs
with cushions, water facilities and other utilities, supplies and equipment as
requested by NASCAR;

 

o)                                     provide
adequate trash receptacles in the garage and pit areas and coordinate with the
NASCAR NEXTEL Cup Series Director the times for trash pick up by track
personnel;

 

p)                                     provide
adequate personnel to sweep and clean up the garage and pit areas on a daily
basis;

 

q)                                     provide
adequate parking areas and parking passes/permits for a minimum of three
hundred twenty five (325) vehicles, for the exclusive use of Competitors and NASCAR
Officials adjacent to or near

 

5

 

the
garage area, and an additional fifty (50) parking places and passes/permits in
close proximity to the NASCAR track suite to be used at NASCAR’s discretion;

 

r)                                        provide
NASCAR with an observation booth no less than 600 square feet, air conditioned,
heated, with electricity, television monitors, etc., with an unobstructed view
of the racing surface and adequate seating for the purpose of monitoring the
Event by NASCAR personnel and others, including all necessary admission tickets
and/or access stickers for personnel to gain admission to the observation
booth, during the Event;

 

s)                                      provide
NASCAR with two hundred twenty-five (225) reserved choice grandstand admission tickets,
for the Event and two hundred (200) choice grandstand tickets for NASCAR NEXTEL
Cup Series Budweiser Pole Qualifying, such tickets to be delivered to
NASCAR no later than thirty (30) calendar days prior to the Event

 

t)                                        enter,
and use its best efforts to cause any manufacturer of Event merchandise to
enter, into a cross licensing agreement with NASCAR to use the NASCAR Marks (as
defined in Section 19.a) below) in conjunction with all Event merchandise;

 

u)                                     prominently
display (by painting or otherwise) the Official Logos (as defined in subsection 19.a)i))
in and around the Facility, and in all promotion of the Event, to NASCAR’s
satisfaction, including but not limited to:

 

i)                                         at
all Facility entrances in some fashion such as flags and/or banners;

 

ii)                                      in
an area inside the track, such as the infield grass, such that it is highly
visible to grandstand seating and from the air;

 

iii)                                   in
the backdrop to Victory Lane and pre-race ceremonies;

 

iv)                                  on
any and all print and television advertising promoting the Event;

 

v)                                     on
the front cover of the Event Program;

 

vi)                                  on
any and all Event tickets, suite passes, and credentials;

 

vii)                               in
the Track Media Center;

 

provided,
however, that the Official Logos shall not, without NASCAR’s prior
written approval, be placed in close proximity to a third party’s marks so as
to create a commercial impression that the third party is associated with
NASCAR or the NASCAR NEXTEL Cup Series;

 

v)                                     cooperate
fully with nascar.com staff, including but not limited to prominently displaying
(by painting or otherwise) the nascar.com address in an area of the track, such
as the infield grass, that is highly visible to grandstand seating and from the
air;

 

w)                                   cooperate
fully with the NASCAR public relations staff;

 

x)                                       cooperate
fully with any entity involved in the exploitation of Live Broadcast Rights or
Ancillary Rights (“Entity”), including but not limited to:

 

i)                                         providing
reasonable access to the Facility for the purpose of facilitating the Entity’s
broadcast, transmission, or recording of the Event (including free parking for
any and all Entity employees and equipment), including but not limited to
providing reasonable space and locations as determined by the Entity for its
announcers, and for the installation and

 

6

 

operation
of all microphones, television cameras, and related equipment to be used by
such Entity in connection with its production and transmission (including
satellite uplink);

 

ii)                                      supplying
and assuring the availability of such electrical power as is necessary to
operate such equipment and all necessary lighting for a first quality
television production in color;

 

iii)                                   permitting
the Entity to install, maintain, and remove from the Facility such wires,
cables, and equipment as may be necessary for the Event;

 

iv)                                  permitting
installation of announcers’ booths, camera platforms, and similar structures
for the facilitation of broadcast productions of motorsports events;

 

v)                                     providing
adequate and necessary space for any mobile units, trailers and other necessary
support units required by the Entity for the transportation and maintenance of
equipment and personnel by the Entity;

 

vi)                                  providing
a booth across from the Start/Finish line, with a clear view of the entire
track, with sufficient space to accommodate a minimum of five (5) people
(the booth shall be at least twelve (12) feet wide and ten (10) feet deep
with a counter twenty (20) inches deep), air-conditioned to sixty-eight (68)
degrees Fahrenheit, as sound proof as practical, wired for one hundred-twenty
(120) volts AC with outlets on the front and side walls, with four (4) chairs
with back support, and with door(s) that can be locked and secured;

 

vii)                               cooperating
with NASCAR and any Entity to ensure exclusive, and if necessary secure or
encrypted, radio frequencies;

 

viii)                            providing
meaningful advanced consultation with NASCAR and the Entity regarding any
talent including, but not limited to, pre- and/or post-race concert
performer(s), national anthem performer(s), invocation deliverer(s), grand
marshal(s), engine start command deliverer(s), honorary starter(s),
celebrities, sports figures, political representatives and/or guests who might
take part in pre-race ceremonies, or others with whom PROMOTER arranges for or
contracts with to participate in the Event; and

 

y)                                     with
respect to any Entity transmitting the Live Broadcast, in addition to the
requirements of Section 9.x) PROMOTER shall:

 

i)                                         provide
a maximum of three hundred (300) choice complimentary tickets for the Competition
and all other activities during the Event, provided that NASCAR shall
require the Entity to notify PROMOTER of the number of such tickets it requires
not later than ninety (90) days prior to the date of the Event;

 

ii)                                      provide
use of one (1) standard luxury track suite for the Competition and all
other activities during the Event;

 

iii)                                   prominently
display four (4) standard size signs, to the Entity’s specifications,
subject to the reasonable approval of PROMOTER and NASCAR;

 

iv)                                  provide
such Entity with one (1) full page four (4) color advertisement
in each Event Program;

 

v)                                     cooperate
fully with any and all requests made by NASCAR with respect to local TV
coverage, including but not limited to allowing such Entity to have absolute
priority with respect to camera and announcing positions, ensuring that local
TV crews do not in any way interfere with such Entity’s production, ensuring
that such local TV coverage will be

 

7

 

limited
to no more than two (2) minutes of action of competition, which will not
be broadcast until completion of such Entity’s first telecast of the
Competition and not later than ninety six (96) hours following the completion
of the Competition, and ensuring local TV crews do not provide footage to any
regional or national network or news feed;

 

vi)                                  permit
such Entity, if requested in a timely manner, to purchase Event hospitality
chalets;

 

vii)                               use
its reasonable efforts to cause the title sponsor of the Event to buy
advertising in the telecasts of the Event; NASCAR shall in turn include in the
Live Broadcast Contract(s) provisions that (a) prohibit the Entity from
identifying the Event by any name other than the official event title, as
designated by the PROMOTER, or identifying the Facility by any name other than
its official name, as designated by the PROMOTER, (b) require the Entity
to identify the Event by its official event title, as designated by the
PROMOTER, excluding any presenting sponsors, at least once during the opening
segment of the telecast and thereafter at least once during each hour of the
telecast, and (c) prohibit the Entity from superimposing, inserting or
otherwise incorporating on-screen any electronic or “virtual” signage,
promotion or other commercial designation that alters for the television viewer
the actual appearance of the Facility or any portion thereof without the prior
written approval of PROMOTER and NASCAR; and

 

viii)                            at
least ninety (90) days prior to the Event, send such Entity and NASCAR and any
international telecaster scheduled to be broadcasting from the Facility a list
naming all musical compositions scheduled to be played during the Competition
or at any other time when such Entity or international telecaster is scheduled
to be broadcasting from the Facility in connection with the Event, which shall
include the title of each composition and the name of the composer, publisher,
copyright holder, and performing rights holder; and if such Entity is unable to
transmit such composition with respect to the Live Broadcast of the Event
without additional expense and authorizations, PROMOTER agrees (a) to
obtain, at PROMOTER’s expense, authorization to transmit such composition or (b) not
to play such composition at a time when the Entity is scheduled to be
broadcasting from the Facility in connection with the Event.

 

10.            Fire and Medical Equipment and Personnel.
PROMOTER shall provide adequate facilities, personnel, equipment and services,
including without limitation cleanup crews, towing and flatbed wreckers, for
fire protection and on-site medical services for Competitors, Officials, the
public and others in connection with the Event. PROMOTER shall adhere to NASCAR’s
required medical standards, provided that PROMOTER is given a copy of such
medical standards prior to the Event, and make advance arrangements with local
hospitals and physicians for the prompt, efficient and appropriate treatment of
any and all injuries occurring during the Event.

 

11.            Security For Pit and Garage Area.   PROMOTER shall furnish adequate security
personnel and equipment (in addition to the requirements of Section 8 and
9) in the pit and garage area. PROMOTER shall limit access to such areas
before, during and after the Event solely to authorized individuals (who must
have NASCAR-approved credentials) and equipment. PROMOTER is solely responsible
and liable for the actions of security personnel, provided, however,
that PROMOTER shall ensure that all such security personnel will abide by such
directions or comply with such requests as NASCAR may issue or make from time
to time. PROMOTER will permit any current, valid NASCAR-licensed members,
NASCAR guests, and/or any other persons designated by NASCAR access to the
Facility or portions of the Facility in accordance with the type of credential
issued to them by NASCAR.

 

12.            Business Responsibilities Relating to
Promotion. PROMOTER shall perform all obligations imposed on it
by this Agreement, including all obligations to provide cooperation, tickets,
passes, services and support equipment set forth in Section 9 of this
Agreement, at its own expense, without contribution by NASCAR. PROMOTER assumes
and will perform all business responsibilities in connection with the promotion
of the Event (except as otherwise provided by

 

8

 

this Agreement),
including without limitation business organization, promotional activities,
management, general business affairs, ticket sales, Facility operation and
press accommodations.

 

13.            Other
Track Activities. PROMOTER shall not schedule or permit any
private race car practice or test runs at the Facility for the seven (7) calendar
days immediately preceding the first day of official practice for the Event
without prior written approval by NASCAR. PROMOTER shall not schedule or
permit any other entertainment activities at the Facility during the Event
without prior written approval by NASCAR. PROMOTER shall notify NASCAR at least
thirty (30) calendar days prior to the Event of its intention to conduct or permit
any such activities. NASCAR may at its discretion grant its approval with or
without condition, but it shall not unreasonably withhold or condition its
approval. Except with respect to scheduling as set forth herein, NASCAR shall
have no responsibility or liability with respect to such activities, and
PROMOTER shall be solely responsible and liable for such activities. The
entertainment activities covered by this Section 13 include without
limitation other motorsports events, thrill shows, live performances and/or
helicopter rides. PROMOTER further agrees to notify NASCAR of any private race
car testing and/or practice done at the Facility at any time, pursuant to and
in accordance with the NASCAR NEXTEL Cup Series Private Race Car Testing
Policy in effect at the time.

 

OFFICIAL ENTRY BLANK AND AWARDS

 

14.            Preparation
And Publication of Official Entry Blank. NASCAR shall compose, print,
publish and distribute the Official Entry Blank (“OEB”) for the Event. The OEB
shall be the sole official statement as to the date, place, schedule and
length of the Event, the eligibility requirements for Competitors, and monetary
and non-monetary awards. PROMOTER shall not publish an official or unofficial
entry blank or supplement, or any other form setting forth monetary or
non-monetary awards, without prior written approval from NASCAR. PROMOTER shall
not advertise or otherwise disseminate any information as to monetary or
non-monetary awards for the Event other than those specified in the OEB or
NASCAR-approved supplement. If PROMOTER engages in such publication,
advertising or dissemination, PROMOTER shall hold NASCAR harmless for any and
all loss, expense or damage arising out of such activity, and NASCAR at its
option may also terminate the sanction granted by this Agreement and/or pursue
any other remedies against PROMOTER.

 

15.            Additional
Awards.

 

a)                                      If
PROMOTER contracts for Additional Awards, then, subject to the provisions of Section 14,
NASCAR may publish and distribute a supplement to the OEB posting the Additional
Award(s).

 

b)                                     PROMOTER
shall submit to NASCAR, no later than sixty (60) calendar days prior to the
date of the Event, a list of any and all proposed Additional Awards for the
Event.  PROMOTER shall obtain NASCAR’s
written consent prior to contracting for any Additional Award. NASCAR may reject
a proposed Additional Award in its entirety, require different terms for the
proposed Additional Award, or require a reallocation of the distribution of
such an award among Competitors, if in NASCAR’s sole judgment the proposed
award will not advance the nature of the competition, will have an adverse
impact on the Event, or will be detrimental to the sport of automobile racing,
NASCAR, any sponsors of the Event, or any sponsors of the NASCAR NEXTEL Cup
Series. PROMOTER assumes full responsibility for, and will indemnify NASCAR against,
any loss, expense or damage incurred as a result of NASCAR’s determination with
respect to any proposed award arranged by or through PROMOTER. All Additional
Awards are subject to independent verification by NASCAR.

 

16.            Unauthorized
Awards.  PROMOTER shall not offer
an award of any kind, at the Event or any other NASCAR-sanctioned event, or any
other non-NASCAR sanctioned event, which in any way utilizes or relies upon the
points system, money standings, or any other NASCAR-sanctioned race related
results, without NASCAR’s prior written approval. If PROMOTER offers such an
award without NASCAR’s prior written approval, NASCAR may terminate the
sanction granted by this Agreement and/or seek to prohibit or enjoin PROMOTER
from offering such an award and/or

 

9

 

pursue any other remedies
available to it. If such an award is offered by a third party without NASCAR’s
prior written approval, PROMOTER shall cooperate with NASCAR to prohibit or
enjoin the third party from offering such an award. Cooperation by PROMOTER
shall include, but is not limited to, the assignment of PROMOTER’s rights to
enjoin the third party. If PROMOTER; in NASCAR’s sole judgment, fails to
cooperate fully with NASCAR to prohibit or enjoin such an award, NASCAR at its
option may terminate the sanction granted by this Agreement and/or pursue any
other remedies available to it.

 

PROMOTER’S FINANCIAL AND INSURANCE
OBLIGATIONS

 

17.            Sanction
Fee, Purse and Point Fund Monies. PROMOTER shall pay to Awards &
Achievement Bureau, Inc., a Florida Corporation, acting as an independent
escrow agent, pursuant to the Escrow Agreement attached hereto as Exhibit 2,
not later than the Payment Date set forth in Exhibit 1 to this Agreement,
by wire transfer of funds, an amount equal to the sum of PROMOTER’s Purse
Money, Point Fund, Television Award Money and Sanction Fee set forth in Exhibit 1
to this Agreement, plus any other monies due NASCAR for the Event pursuant to
this Agreement, unless otherwise directed by NASCAR in writing. Time is of the
essence. If said monies and fees are not paid in the manner required and by the
Payment Date specified in Exhibit 1 to this Agreement, NASCAR at its
option may (a) terminate the sanction granted by this Agreement, (b) enforce
collection of said monies and fees by suit or legal action, and/or (c) pursue
any other remedies available to it.

 

18.            Insurance.

 

a)                                      Event Insurance. PROMOTER shall obtain
and maintain comprehensive general liability insurance that is acceptable to
NASCAR for the Event from an insurance company that is acceptable to NASCAR for
(i) spectator injury and property damage and (ii) participant legal
liability, product liability and advertising liability with a minimum combined
single limit equal to but not less than Fifty Million Dollars ($50,000,000.00)
per occurrence, and medical malpractice liability insurance of not less than
One Million Dollars ($1,000,000.00) (unless NASCAR approves a lesser
limit in writing prior to the Event). NASCAR may require that PROMOTER obtain
such insurance in greater amount or scope by providing notice to PROMOTER at
least one hundred and twenty (120) calendar days prior to the date of the
Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than
the Notification Date set forth in Exhibit 1 to this Agreement, a
certified true copy of all public liability insurance policies in force for the
Event. In all such policies and in all other liability policies obtained and
maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies),
including without limitation all umbrella and excess liability policies, the
following will be named as insured or additional insured: National Association
for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General
Corporation, Awards and Achievement Bureau, Inc., Automotive Research
Bureau, Inc., their shareholders, directors, officers, employees, agents,
Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all
Competitors; car sponsors; car owners, all sponsors for the Event or the series
of which the Event is a part; and all third parties with whom NASCAR has
contracted with respect to the exploitation of Live Broadcast Rights and
Ancillary Rights. All policies shall be primary regardless of insurance carried
by NASCAR or other additional insureds, and contain a cross liability
endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such
policies to NASCAR by the Notification Date, (b) the policies are not
acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with
the required minimum coverage throughout the Event, NASCAR at its option but at
PROMOTER’s expense may obtain the required insurance from an acceptable
insurance company or NASCAR may terminate the sanction granted by this
Agreement immediately and without notice to PROMOTER and/or pursue any other
remedies available to it.

 

b)                                     Broadcast Insurance. NASCAR shall
require the Entity providing the Live Broadcast to maintain statutory and
workmen’s compensation coverages. NASCAR shall require the Entity providing the

 

10

 

Live
Broadcast to name PROMOTER and NASCAR as additional insureds on its broadcast
and comprehensive general liability policies. These policies shall have a limit
of at least One Million Dollars ($1 million) per occurrence and Two Million
Dollars ($2 million) annual aggregate.

 

c)                                      NASCAR Insurance Plan. The NASCAR
insurance plan (participant/accident coverage in place for NASCAR-licensed
Competitors in NASCAR-sanctioned racing) is not applicable to and does not
provide coverage for Competitors, whether NASCAR-licensed or not, in any
non-NASCAR-sanctioned racing or other activities at the Facility during the
Event that are not expressly listed in this Agreement or in a fully executed
NASCAR sanction agreement pertaining to another NASCAR series running during
the Event.

 

ADVERTISING AND USE OF MARKS

 

19.            Cross
Trademark Licenses.

 

a)                                      Grant of License by NASCAR. NASCAR
hereby grants to PROMOTER a non-transferable, non-exclusive, royalty-free
license to use, strictly in accordance with the terms of this Agreement, the
NASCAR and NASCAR NEXTEL Cup Series marks listed on Exhibit 3 to this
Agreement (collectively, the “NASCAR Marks”) in connection with the publicity,
promotion and advertising of the Event. 
This license shall terminate upon the expiration or termination of the
sanction granted by this Agreement.

 

i)                                         Terms and Conditions of Use.
PROMOTER shall display the official NASCAR logo, the official NASCAR NEXTEL Cup
Series logo and the phrase “NASCAR-Sanctioned NASCAR NEXTEL Cup Series Championship
Event” (collectively, the “Official Logos”) in all publicity, advertising and
promotion relating to the Event, in accordance with Section 9.u) of this
Agreement. The number and specific location of such displays and the color and
size of the Official Logos shall be subject to NASCAR approval, and PROMOTER
shall abide by and comply with all determinations and directives of NASCAR with
respect to such matters. NASCAR may disapprove and prohibit PROMOTER’s actual
or intended use of the NASCAR Marks in any location, media or publication if
NASCAR determines that such use is or will be detrimental to NASCAR, to the
Event, to the series of which the Event is a part, or to the sport.

 

ii)                                      Limited Authorization. This license
does not authorize PROMOTER to use the NASCAR Marks in its corporate business
or firm name and title nor to use or permit the use of the marks other than in
accordance with the terms and conditions of this Agreement.

 

iii)                                   Indemnity. NASCAR hereby agrees to
indemnify PROMOTER from any claims or loss arising out of PROMOTER’s use of the
NASCAR Marks in accordance with the terms and conditions of this Agreement.

 

b)                                     Grant of License by PROMOTER. PROMOTER
hereby grants to NASCAR a non-transferable, non-exclusive, royalty-free
license to use and sublicense, strictly in accordance with this Agreement,
PROMOTER’s marks listed on Exhibit 4 to this Agreement (collectively, the “PROMOTER’s
Marks”) in connection with publicity, promotion and advertising of the Event
and the NASCAR NEXTEL Cup Series, and the exploitation of Live Broadcast Rights
and Ancillary Rights. This license shall be perpetual with respect to the
exploitation of Live Broadcast Rights and Ancillary Rights; with respect to all
other rights, this license shall terminate upon the expiration or termination
of the sanction granted by this Agreement.

 

11

 

i)                                         Terms and Conditions of Use. NASCAR
shall have the right to use and sublicense PROMOTER’s Marks in connection with
publicity, promotion or advertising of the Event and the NASCAR NEXTEL Cup
Series, and the exploitation of Live Broadcast Rights and Ancillary Rights, provided,
however, that NASCAR shall not, without the prior written consent of
PROMOTER, use or sublicense the use of PROMOTER’s Marks on the branding of any
retail package product, unless otherwise expressly permitted in this Agreement.

 

ii)                                      Limited Authorization. This license
does not authorize NASCAR to use PROMOTER’s Marks in its corporate business or
firm name and title nor to use or permit the use of PROMOTER’s Marks other than
in accordance with the terms and conditions of this Agreement.

 

iii)                                   Indemnity. PROMOTER hereby agrees to
indemnify NASCAR from any claims or loss arising out of NASCAR’s use of
PROMOTER’s Marks in accordance with the terms and conditions of this Agreement.

 

20.            Limited Assignment of Certain Other Rights. Solely to the extent that any
other person or entity grants to NASCAR rights to use and sublicense their
name(s), picture(s), likeness(es) or performance(s) in connection with the Event,
NASCAR hereby grants to PROMOTER a non-exclusive sublicense to use such
name(s), picture(s), likeness(es) or performance(s) for the purpose of
publicizing, promoting or advertising the Event, but not for the purpose of exploiting
Live Broadcast Rights or Ancillary Rights. Notwithstanding the foregoing,
NASCAR may disapprove and prohibit PROMOTER’s actual or intended use of such
name, picture, likeness or performance if NASCAR determines that such use is or
will be detrimental to NASCAR, to the Event, to the series of which the Event
is a part, or to the sport.

 

21.            Misrepresentations.
PROMOTER shall make no misrepresentations of fact in connection with publicizing,
promoting or advertising the Event. If such a misrepresentation is made (a) PROMOTER
shall promptly correct the misrepresentation through a subsequent PROMOTER
publication, (b) NASCAR may correct the misrepresentation itself through
NASCAR publication at PROMOTER’s expense, (c) NASCAR may terminate the sanction
granted by this Agreement, and/or (d) NASCAR may pursue any other remedies
available to it.

 

22.            Cooperation with Sponsors. PROMOTER acknowledges that the
Event is part of the NASCAR NEXTEL Cup Series. PROMOTER shall cooperate fully
with NASCAR, with the series sponsor(s), and with any other company that has
contracted with NASCAR to sponsor awards or programs (including without
limitation the Bud Pole Award or the Rookie-of-the-Year Award) that are based
in whole or in part on a Competitor’s performance in the Event or over a number
of NASCAR NEXTEL Cup Series events, in connection with those sponsors’
activities, if any, during the Event. PROMOTER, on its own and at the request
of NASCAR, will use its best efforts to feature such sponsors prominently in all
of PROMOTER’s advertising, publicity and promotion in connection with the
Event, and no competitor of such a sponsor shall be featured therein as
prominently as such sponsor. PROMOTER shall take no action that, in NASCAR’s sole
determination, will jeopardize the maintenance or continuation of such
sponsorships. In the event that the series title sponsorship or official fuel
supplier changes after the Effective Date of this Agreement and prior to the
conclusion of the Event, PROMOTER will not renew, extend or enter into any new
agreement with any sponsor that represents a conflict with the new series
sponsor or official fuel supplier during the Event. The determination of what
constitutes a conflict shall be at NASCAR’s sole discretion. PROMOTER will use
best efforts to resolve all existing sponsor conflicts, if any, relative to
these categories in an expeditious manner. 
PROMOTER will maintain the full inventory of at-track and Event-related
benefits provided by the PROMOTER to the current series sponsor for the
availability of a new series sponsor. PROMOTER will maintain the full inventory
of at-track and Event-related benefits provided by the PROMOTER to the current
official fuel supplier for the availability of a new official fuel supplier,
provided that the new series sponsor and the new official fuel sponsor shall
enter into a licensing agreement with the PROMOTER with respect to such rights.
PROMOTER shall permit the use of the PROMOTER’s Marks by the new series sponsor
and by the new official fuel supplier for the purposes of reporting, promoting,
publicizing, and advertising the Event, the Series, and/or the new series
sponsor’s or new official fuel supplier’s product/service affiliation with the
Event and/or the Series.

 

23.            Approval
of Advertising and Sponsors. NASCAR reserves the right to approve or
disapprove any advertising, sponsorship or similar agreement in connection with
the Event. PROMOTER acknowledges that the sale or

 

12

 

use, for advertising
purposes, of space at the Facility or in any publications distributed in
connection with the Event is an action that could have an impact upon the
existing sponsorships described in Section 22 above, or on third parties
who have entered into contracts or other agreements with NASCAR or NASCAR
Rights Affiliates with respect to Live Broadcast Rights or Ancillary Rights.
PROMOTER shall seek written approval by NASCAR prior to such sale to or use by
competitors of such sponsors or third parties, which NASCAR may provide or withhold
in its sole discretion.

 

24.            National
Program Package. PROMOTER shall participate in the NASCAR National
Program Ad Package, including the rules and regulations relating thereto,
if offered.

 

BROADCAST RIGHTS

 

25.            Ownership
of Live Broadcast Rights and Ancillary Rights. PROMOTER acknowledges
that NASCAR, as the entity conducting the Competition, exclusively and in
perpetuity owns the Live Broadcast Rights and Ancillary Rights with respect to
the Competition. In addition, to the extent not already owned by NASCAR,
PROMOTER hereby assigns to NASCAR exclusively and in perpetuity any and all
rights to transmit, film, tape, capture, overhear, photograph, collect or
record by any means, process, medium or device, whether or not currently in
existence, all images, sounds and data arising from or during the Event and
agrees that NASCAR shall be the sole owner of the Live Broadcast Rights and the
Ancillary Rights and any other works, copyrightable or otherwise, created from
the images, sounds and data arising from or during the Event. PROMOTER
represents and warrants that as of the date of this Agreement, it has not
granted to any third party the rights granted in the immediately prior
sentence, including but not limited to rights relating to the Internet or World
Wide Web, unless otherwise expressly disclosed in writing to NASCAR prior to
the date of this Agreement. PROMOTER shall take all steps reasonably necessary,
and all steps reasonably requested by NASCAR, to protect, perfect or effectuate
NASCAR’s ownership or other interest in the rights that are the subject of this
Section 25. Without limiting the foregoing, PROMOTER will include (a) the
broadcast rights language for tickets specified in Exhibit 5 of this
Agreement on all Event admission materials including without limitation
tickets, suite passes and credentials, and (b) the broadcast rights
language for ticket-related material specified in Exhibit 5 of this
Agreement on all renewal forms, ticket brochures and related material
distributed to recipients of such admission materials. PROMOTER may obtain from
NASCAR or a NASCAR Rights Affiliate, without charge to the PROMOTER, images,
sounds or data that are the subject of this Section 25, but only for the
purpose of publicity, promotion or advertising of the Event, and only to the
extent determined by NASCAR to be reasonably required for such purpose.

 

26.            Exploitation
of Live Broadcast Rights and Ancillary Rights. NASCAR may, but shall
not be obligated to, exploit Live Broadcast Rights and Ancillary Rights. If and
to the extent NASCAR decides to exploit such rights, it may form or cause to be
formed one or more NASCAR Rights Affiliates and it may assign some or all of
the rights owned by or granted to it pursuant to Section 25 to the extent
determined by NASCAR to be reasonably necessary to permit such exploitation.
NASCAR or such NASCAR Rights Affiliates may further assign, grant, sell,
license, lease or otherwise transfer such rights, either alone or in
combination with other similar rights, combine Live Broadcast Rights and
Ancillary Rights with other similar rights obtained from other promoters,
Competitors, sponsors, broadcasters or other third parties, enter into
agreements of any kind with respect to any part or all of such rights,
including without limitation agreements with or between NASCAR and other NASCAR
Rights Affiliates, PROMOTER, or third parties, and generally take such action
as they may determine to be appropriate. Subject only to the obligation imposed
on NASCAR by the immediately succeeding sentence in this Section 26,
NASCAR may license, assign, or otherwise transfer rights in or to any NASCAR
Intellectual Property for a commercially reasonable rate to one or more NASCAR
Rights Affiliates, but any income or revenue received or generated by NASCAR as
a result of such a transaction shall be solely for the account of NASCAR or its
assignee and shall not be subject to payment to the PROMOTER or any other
person or entity under the terms of this Agreement. NASCAR shall license,
assign, or otherwise transfer rights in or to any NASCAR Intellectual Property,
without fee, to one or more NASCAR Rights Affiliates to the extent determined
by such Affiliates to be reasonably necessary to permit them to exploit Live
Broadcast Rights.

 

13

 

27.            Payment
of Live Broadcast Income. On or before five (5) business days
prior to the applicable Payment Date listed in Exhibit 1, NASCAR shall
cause the NASCAR Rights Affiliate(s) engaged in the exploitation of Live Broadcast
Rights to pay thirty percent (30%) of Event Broadcast Income to PROMOTER. On or
before the applicable Payment Date listed in Exhibit 1, PROMOTER shall pay
twenty-five percent (25%) of Event Broadcast Income to Awards and Achievement
Bureau, Inc., acting as an independent escrow agent, for distribution to
the Competitors as part of the purse for the Event. On or before thirty (30)
calendar days after the Event, NASCAR shall cause the NASCAR Rights
Affiliate(s) to pay sixty percent (60%) of Event Broadcast Income to PROMOTER.
Notwithstanding the foregoing:

 

a)                                      PROMOTER
has no right to Event Broadcast Income if the Competition is not commenced and officially
completed (as determined in accordance with the Rule Book).

 

b)                                     If,
for any reason, the Live Broadcast Income to be received by NASCAR or the
NASCAR Rights Affiliate(s) is reduced in whole or in part, or if NASCAR or the
NASCAR Rights Affiliate becomes obligated to repay any portion of Live
Broadcast Income, the NASCAR Rights Affiliate’s obligation to make the payments
otherwise required by this Section 27 shall be reduced by an amount
calculated by multiplying the reduction or repayment by the percentage set
forth in Exhibit 1.

 

NASCAR or the NASCAR
Rights Affiliate(s) shall retain the NASCAR Television Retention listed in Exhibit 1
(10% of Event Broadcast Income) for its own account.

 

28.            Payment
of Net Ancillary Rights Income. NASCAR or the NASCAR Rights Affiliates
engaged in the exploitation of Ancillary Rights shall distribute Net Ancillary
Rights Income as follows:

 

a)                                      Timing.  Within three months after the end of the
calendar year during which the Event is held, NASCAR or such NASCAR Rights
Affiliate(s) shall determine the total amount of Net Ancillary Rights Income,
if any, received by it during that calendar year.   Within thirty (30) calendar days after such
determination, NASCAR or such NASCAR Rights Affiliate(s) shall distribute such
Net Ancillary Rights Income pursuant to the formula set forth in Section 28.b)
below. Notwithstanding the foregoing, PROMOTER has no right to Event Net
Ancillary Rights Income if the Competition is not commenced and officially
completed (as determined in accordance with the Rule Book), unless the
sole reason that the Event is not commenced and officially completed is a
strike, war, declaration of a state of national emergency, or an act of God or
the public enemy or other circumstances beyond the control of PROMOTER).

 

b)                                     Allocation.  NASCAR or such NASCAR Rights Affiliate(s)
shall pay: (i) twenty-five percent (25%) of Net Ancillary Rights Income to
Awards & Achievement Bureau, Inc. for distribution as part of the
Point Fund awards at the end of the next calendar year, for Winners’ Circle or
similar programs, or for other programs designed for the benefit of
Competitors, as NASCAR may determine from time to time and (ii) sixty-five
percent (65%) of Event Net Ancillary Rights Income to PROMOTER. NASCAR or the
NASCAR Rights Affiliate(s) shall retain the remaining ten percent (10%) of Net
Ancillary Rights Income for its own account.

 

29.            Maintenance
of and Access to Contracts and Other Books and Records. Each NASCAR
Rights Affiliate will maintain for a period of six years from the date of the
Event (a) true and complete copies of any written Live Broadcast Rights
Contract relating to the Event and (b) such books and records as are
commercially reasonable for the purpose of auditing its Live Broadcast Income
and Net Ancillary Rights Income received during the calendar year in which the
Event is held. Each NASCAR Rights Affiliate will permit PROMOTER or its
authorized agent to inspect and audit any or all such contracts, books and
records, wherever they may be located or at any other mutually agreeable location,
but only upon reasonable notice and at such reasonable times as determined by
the NASCAR Rights Affiliate, and only at the business premises of the NASCAR
Rights Affiliate where they are located, and subject at all times to Section 36
(relating to confidentiality and proprietary information).

 

14

 

30.            Limitation
of Liability. NASCAR and the NASCAR Rights Affiliates shall be solely
responsible for, and shall have complete discretion with respect to, the
manner, extent and timing of any license, assignment, transfer or other use or
exploitation of Live Broadcast Rights and Ancillary Rights, either through
independent third parties, NASCAR Rights Affiliates or otherwise. NASCAR and
the NASCAR Rights Affiliates shall have no liability to PROMOTER with respect
to such activities or the amount of Live Broadcast Income or Net Ancillary
Rights Income arising out of or generated by such activities. PROMOTER hereby
promises and covenants not to assert any claim or file any suit or other legal
action against NASCAR or any NASCAR Rights Affiliate on the ground that it or
they have failed in any way, material or otherwise, to exploit, maximize or
earn profits of any kind or amount with respect to Live Broadcast Rights or Ancillary
Rights.

 

GENERAL PROVISIONS

 

31.            Events
of Default. For purposes of this Agreement, “Event of Default” means:

 

a)                                      Failure
of PROMOTER to abide by the material provisions of this Agreement or the Rule Book;

 

b)                                     Failure
of PROMOTER to take such actions, or refrain from taking actions, as reasonably
may be requested by NASCAR in accordance with this Agreement;

 

c)                                      Any
act, omission or condition expressly described in this Agreement as giving
NASCAR the right to terminate this Agreement or the sanction granted by this
Agreement;

 

d)                                     A
change, material or otherwise, in the ownership, control or management of
PROMOTER;

 

e)                                      A
statement by PROMOTER that it is not or will not be able to pay its debts as
they become due; an application or agreement by PROMOTER for the appointment of
a receiver or trustee in liquidation; a general assignment by PROMOTER for the
benefit of creditors; the filing by PROMOTER of a voluntary petition in
bankruptcy or a petition seeking reorganization or an arrangement of creditors
under any bankruptcy law; the filing by another person or entity of a petition
under any bankruptcy law that makes PROMOTER a party; or the adjudication of PROMOTER
as a bankrupt under any bankruptcy law;

 

f)                                        Activity
by PROMOTER of any kind, including without limitation litigation, that NASCAR determines
to be detrimental to the sport or to NASCAR.

 

If there is an Event of
Default, at its option NASCAR may demand that PROMOTER cure any failure or
breach giving rise to the Event of Default or terminate this Agreement or the
sanction granted by this Agreement, and/or NASCAR may withhold from any
payments due to PROMOTER under this Agreement an amount reasonably calculated
to hold harmless NASCAR, NASCAR Rights Affiliates, sponsors, Competitors,
Officials, persons or entities contracting with NASCAR or NASCAR Rights
Affiliates with respect to Live Broadcast Rights or Ancillary Rights, and other
persons or entities involved in the Event from any loss resulting from the
Event of Default. NASCAR’s determination as to such amount is binding on
PROMOTER. NASCAR shall notify PROMOTER in writing of its decision to terminate
and/or to withhold payments. If the sanction is terminated, such termination
shall be effective as of the date the notice was sent by NASCAR or at such
later date as may be specified by NASCAR in the notice. PROMOTER shall promptly
comply with all monetary obligations that have accrued as of the effective date
of termination, and all other terms and conditions of this Agreement shall
survive such termination. Nothing in this Section 31 shall be construed to
limit NASCAR’s other rights or remedies, or to preclude NASCAR from enforcing
such rights or pursuing such remedies to the fullest extent possible.

 

32.            Assignment.
A party may not assign its rights or delegate its obligations under this
Agreement without the prior written consent of the other party, except as
otherwise permitted by this Agreement.

 

33.            Determinations
by NASCAR.   Except where
expressly stated otherwise, whenever this Agreement provides or permits NASCAR
to make a determination regarding a matter, NASCAR may make such determination
in its

 

15

 

sole judgment and
discretion, and such determination may not be challenged, amended, voided or
nullified on the ground that it was incorrect or unreasonable.

 

34.            Limited
Application. This Agreement and the sanction granted herein relate
solely to the Event and the date set forth in Exhibit 1 to this Agreement.
Nothing in this Agreement, or in the course of dealing between the parties, will
be construed to require PROMOTER or NASCAR to enter into a sanction agreement
or to issue a sanction for the Event or any other event in the future.

 

35.            Disclaimer
of Warranty. NASCAR (on behalf of itself and each and every NASCAR
Rights Affiliate, whether existing now or created hereafter) does not warrant,
either expressly or by implication, nor is it responsible for, the financial or
other success of the Event, the number or identity of vehicles or Competitors
participating in the Event, the adequacy of the services it provides, the
suitability of the Facility for the Event, the safety of the public, the Competitors
or any other person entering the Facility in connection with the Event, the
financial return from the exploitation of Live Broadcast Rights or Ancillary
Rights, or any other matter not expressly agreed to or warranted by NASCAR
herein.

 

36.            Proprietary
Information; Confidentiality. PROMOTER acknowledges that (i) this
Agreement, (ii) any technical, business or financial information or
documents used, provided or disclosed by NASCAR or any NASCAR Rights Affiliate
in connection therewith or pursuant thereto, (iii) customer lists of any
kind or nature used, provided or disclosed by NASCAR or any NASCAR Rights
Affiliate, (iv) the manner in which NASCAR or any NASCAR Rights Affiliate
engages in the exploitation of Live Broadcast Rights or Ancillary Rights, (v) the
manner in which NASCAR conducts and controls the Competition, (vi) the
manner in which NASCAR promotes the Event, the series of which the Event is a
part, and the sport of stock car racing in general, and (vii) the manner
in which NASCAR forms, promotes and maintains relationships with sponsors,
Competitors, Officials, other promoters, fans and other third parties involved
in the Event (collectively “NASCAR Proprietary Information”), constitutes
information that is proprietary to NASCAR and/or the NASCAR Rights Affiliate
and may not be used by PROMOTER except in connection with the performance of PROMOTER’s
duties under this Agreement.   Except for
that purpose, PROMOTER shall at all times and forever maintain NASCAR
Proprietary Information in a confidential manner and shall not disclose it or
use it on behalf of itself or any third party unless it is in the public domain
as a result of an act or omission caused by a person or entity other than PROMOTER.
PROMOTER acknowledges that any unauthorized use or disclosure of NASCAR
Proprietary Information that is in violation of this Section 36, or other
violation or threatened violation of this Section 36, could cause
irreparable damage to NASCAR and/or the NASCAR Rights Affiliate and, therefore,
that NASCAR and/or the NASCAR Rights Affiliate(s) shall be entitled to an
injunction prohibiting PROMOTER or any related party from engaging in such violation
and to attorney’s fees and costs for having to bring any action to enforce this
Section 36.

 

37.            No
Joint Venture. Nothing in this Agreement will be construed to place
NASCAR or NASCAR Rights Affiliates in the relationship of a partner or joint
venturer with PROMOTER.   Neither party
may, or has power to, obligate or bind the other party in any manner other than
as provided expressly in this Agreement.

 

38.            Series Name.
NASCAR may modify, alter, change or replace the name or sponsor of the series
of which the Event is a part, at any time. 
In that event, PROMOTER shall use the new name and related logos or marks
in all communications, advertising, publicity and promotion relating to the
Event.

 

39.            Indemnification; Repayment. PROMOTER shall indemnify and
hold NASCAR and all NASCAR Rights Affiliates and NASCAR additional insureds
harmless from any and all claims, allegations, demands, obligations, suits, actions,
causes of action, proceedings, rights, damages, and costs of any nature arising
out of the Event or this Agreement, unless such claim, allegation, demand,
obligation, suit, action, cause of action, proceeding, right, damage or cost
arises solely out of the negligent act or negligent omission of NASCAR or any
NASCAR Rights Affiliate.  With respect to
any matter falling within the scope of PROMOTER’s obligation to defend and hold
NASCAR and the NASCAR Rights Affiliates harmless, NASCAR and the NASCAR Rights
Affiliate shall be entitled to select counsel to represent it in such matter at
PROMOTER’s expense, and that counsel’s duties and obligations in all respects
shall be solely to NASCAR and to the NASCAR Rights Affiliate.

 

16

 

40.            Recovery
of Attorney’s Fees. In the event of litigation arising out of the
enforcement of this Agreement or its terms and conditions, attorney’s fees and
costs shall be awarded to the prevailing party.

 

41.            Representation
Regarding Ownership of Facility.  PROMOTER represents and warrants that,
during the calendar year in which the Event is conducted and at all other times
material to this Agreement, with respect to the Facility and the material
assets thereof, either it holds, and will hold at all times relevant to the
Event: (i) good and marketable title; or (ii) a valid and binding
leasehold or other contractual interest for the management and operation of the
Facility. PROMOTER represents and warrants that it is the direct owner or
lessee of the material assets (other than real estate) of the Facility and no
material assets (other than real estate) of the Facility are owned or leased
through a subsidiary, affiliate, parent corporation, sister corporation or, in
the case of an individual, a family member of the PROMOTER. In the event
PROMOTER is not able to make such representations and warranties as set forth
above, then that entity which can make such representations and warranties must
execute the Guaranty Agreement attached hereto as Exhibit 6.

 

42.            Notice.  Unless otherwise permitted herein, notice
required by the Agreement shall be given by facsimile/telecopy, and by
overnight mail or other express service, postage prepaid, addressed as follows:

 

 

	
  TO NASCAR:

  	
   

  	
  National Association
  for Stock Car Auto Racing, Inc.

  
	
   

  	
   

  	
  1801 West International
  Speedway Boulevard 

  Daytona Beach, FL 32114-1243

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attention: George F.
  Pyne

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  With a copy to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  W. Garrett
  Crotty, Esq. 

  (at the same location)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Requests for NASCAR
  approval and/or consent, notification of planned improvements or alterations
  to the Facility, and information the PROMOTER must provide to NASCAR per this
  Agreement to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Steve O’Donnell 

  (at the same location)

  

 

 

TO PROMOTER: The
Address set forth in Exhibit 1 to this Agreement

 

43.            Notification
Change. Either party may change the person(s) or locations to which
notice must be given pursuant to Section 42, by providing written notice
to the other party in accordance herewith.

 

44.            Entire
Agreement; Amendments. This Agreement, including Exhibits 1 through 6
hereto, constitutes the entire agreement between NASCAR and PROMOTER.   All previous communications and negotiations
between NASCAR and PROMOTER, whether oral or written, not contained herein are
hereby withdrawn and void.   This Agreement
may not be amended except in writing and signed by both parties.

 

45.            Agreement
Binding on Heirs, Successors and Assigns. The rights and obligations
contained in this Agreement shall bind, and inure to the benefit of, the
parties and their respective successors and permitted assigns.

 

17

 

46.            Governing Law. This Agreement
shall be governed by and construed according to the laws of Florida applicable
to agreements made and to be performed therein (without giving effect to the
conflict of law provisions of such jurisdiction).

 

47.            Jurisdiction. With respect to any
litigation between the parties regarding the Event or this Agreement, venue
shall lie solely in Volusia County, Florida, and all parties hereto consent to
service of process by, and the personal and subject matter jurisdiction of, the
state courts in and for Volusia County, Florida.

 

IN WITNESS
WHEREOF, this Agreement has been read and signed by the duly authorized
representative of each party, on the dates set forth below.

 

 

	
   

  	
   

  	
  Dover
  International Speedway, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PROMOTER

  
	
   

  	
   

  	
  BY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date

  	
   July 12,
  2005

  	
   

  	
   

  	
  /s/ Denis McGlynn

  	
   

  
	
   

  	
   

  	
  Signature

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print Name:

  	
  Denis
  McGlynn

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NATIONAL ASSOCIATION
  FOR STOCK CAR

  AUTO RACING, INC.

  BY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date

  	
  11-15-05

  	
   

  	
   

  	
  /s/ George F. Pyne

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  George
  F. Pyne

  
	
   

  	
   

  	
  Chief
  Operating Officer

  
									

 

18

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