Document:

Exhibit 4.2

    Exhibit
      4.2

    

    

    

    AGREEMENT

    

    GAMBLING
      FEDERATION

    

    and

    

    MAHJONG
      SYSTEMS LIMITED 

    
      
         

        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    MEMORANDUM
      OF AGREEMENT

    

    

    

    entered
      into between:

    

    

    APEX
      HOLDINGS

    

    A
      company
      duly incorporated under the laws of Belize

    

    

    

    and

    

    

    

    MAHJONG
      SYSTEMS LIMITED 

    

    A
      company
      domiciled in the Turks and Caicos Islands that offers a centralised Mahjong
      Gaming System and manages the settling of winnings and losses between
      participants.

    

    

     

    
      
         

        

        

        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    RECITALS

    

    WHEREAS "Apex
      Holdings"
      ("Gambling
      Federation")
      operates a gaming web site as part of their business;

    

    AND
      WHEREAS "Mahjong Systems Limited"
      ("MSL")
      is a
      company established to operate a centralised gaming engine and settlement system
      for the benefit of the customers of its partners;

    

    AND
      WHEREAS "Gambling
      Federation" wishes
      to
      integrate a multi player mahjong game into its existing gaming web
      site;

    

    NOW
      THEREFORE
      the
      Parties agree to the following:

    

    
      	1.	
              DEFINITIONS
                

            

    

    

    Unless
      the contrary is clearly indicated, the following words and/or phrases, shall
      have the following meaning:

     

    
      
        	
                1.1
                  

              	
                “this
                  / the Agreement” 

              	
                shall
                  mean this written document together with all written appendices,
                  annexures, exhibits or amendments attached to it from time to time
                  by
                  written agreement between the parties;

              
	 	 	 
	
                1.2
                  

              	
                “Commencement
                  Date” 

              	
                shall
                  mean the date on which the duly authorized representatives of the
                  Parties
                  affixes their signatures to the Agreement;

              
	 	 	 
	
                1.3
                  

              	
                “Confidential
                  Information”

              	
                shall
                  mean the personal information of the Introduced Players, including
                  personal information and play history;

              
	 	 	 

      

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      
        	 	 	 
	
                1.4
                  

              	
                “Currency”
                  

              	
                shall
                  mean (not limited to) United States Dollars or EUROs;

              
	 	 	 
	 	 	 
	
                1.5

              	
                "Rake"

              	
                shall
                  mean the share, in the Currency,
                  of the winnings paid in each game that is collected by MSL as a
                  fee for
                  its service;

              
	 	 	 
	
                1.6

              	
                "MSL"

              	
                shall
                  mean a company with registered address Mahjong Systems Limited,
                  Britannic
                  House, Providenciales, Turks and Caicos Islands, B.W.I., herein
                  represented by its duly authorized representative, Mr. Ian
                  Sherrington;

              
	 	 	 
	
                1.7

              	
                "Introduced
                  Players"

              	
                shall
                  mean players of the Mahjong Games, introduced by "Gambling Federation"
                  as
                  recorded by the mahjong system;

              
	 	 	 
	
                1.8

              	
                "Mahjong
                  Games"

              	
                shall
                  mean the multi player Mahjong game and any other games that "MSL"
                  may make
                  available from time to time;

              
	 	 	 
	
                1.9
                  

              	
                “Parties”
                  

              	
                shall
                  mean "Gambling Federation" and"MSL";

              
	 	 	 
	
                1.10

              	
                “Partners”

              	
                shall
                  mean all gaming systems that provide players and integrate with
                  "MSL" in a
                  manner similar to that contemplated in this agreement;

              
	 	 	 
	
                1.11

              	
                “Float”

              	
                shall
                  mean the funds held as Deposit by "MSL" and adjusted in the monthly
                  settlement;

              
	 	 	 
	
                1.12

              	
                “Float
                  Amount”

              	
                The
                  amount of Float that is agreed between "MSL" and "Gambling Federation",
                  as
                  adjusted from time to time, and held by "MSL" to cover possible
                  losses by
                  Players;

              
	 	 	 
	
                1.13
                  

              	
                "Gambling
                  Federation"

              	
                shall
                  mean APEX Holdings Corp., a company duly incorporated under the
                  laws of
                  Belize, having its address for service under this Agreement at
                  76 Dean
                  Street, Belize City, Belize, Central America;

              
	 	 	 
	1.14 	Any
                reference to the singular includes the plural and vice versa;
	 	 	 
	1.15 	Any
                reference to natural persons includes legal persons and vice
                versa;
	 	 
	1.16 	Any
                reference to a gender includes other genders;
	 	 
	1.17	The
                clause headings in this agreement have been inserted for convenience
                only
                and shall not be taken into account in its
                interpretation.

      

      
 

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

    

    
      	
              2.

            	
              DURATION

            

    

    

    
      	2.1	
              The
                Agreement shall commence on the Commencement
                Date.

            

    

    

    
      	
              2.2

            	
              The
                Agreement will continue in force for a period of three (3) years
                calculated from the Commencement
                Date
                and thereafter be renewed for further periods of three (3) years
                subject
                to either of the Parties’ right to terminate the Agreement, after the
                expiry of the initial three-(3)-year term, by giving one (1) month's
                written notice.

            

    

    

    
      	
              3.

            	
              RIGHT
                OF PARTICIPATION IN REVENUE
                SHARING

            

    

    

    
      	
              3.1

            	
              The
                Parties agree that other Partners may participate in revenue sharing
                with
                "MSL"
                in
                a similar manner to that contemplated in this Agreement.
                

            

    

    

    
      	4.	
              RIGHT
                AND OBLIGATIONS OF MSL

            

    

    

    "MSL"
      shall:

    

    
      	4.1  
                     	
              Have
                the right to use third parties to perform any of these rights and
                obligations;

            

    

    

    
      	4.2   
                    	
              Ensure
                that it is legally authorized to provide the Mahjong
                Games;

            

    

    

    
      	4.3        
               	
              Ensure
                that all transactions in respect of its obligations in terms of this
                Agreement are conducted in the Currency as defined in the systems
                specifications;

            

    

    

    
      	4.4        
               	
              Settle
                all net differences between Partners on a monthly basis within thirty
                (30)
                days of the end of each month by, 

            

    

    

    
      	4.4.1    
                	
              in
                the event that the Float is less than the Float Amount, instructing
                a
                Partner to remit funds to return the Float to the Float Amount;
                

            

    

    
      	 	 

    

    
      	4.4.2    
                	
              in
                the event that the Float is greater than the Float Amount, paying
                the
                Partner the excess amount;

            

    

    

    
      	4.5        
               	
              Pay
                the "Gambling
                Federation"
                commissions, as a percentage of the Rake, to "Gambling
                Federation"
                as
                defined in Schedule 1, these commissions settled in the same transactions
                as the settlement defined in 4.4;

            

    

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
      	4.6        
               	
              Provide
                monthly report of Float movements and commissions due to "Gambling
                Federation"
                and provide real-time access to financial and game
                information;

            

    

    

    
      	4.7       
                	
              Hold
                the Float Amount in trust for "Gambling
                Federation"
                and return all amounts that are not spent in the case of cancellation
                to
                "Gambling
                Federation";

            

    

    

    
      	4.8        
               	
              Monitor
                the Float Amount and inform "Gambling
                Federation"
                if
                it is insufficient for the current play
                rate;

            

    

    

    
      	4.9       
                	
              Keep
                full and proper books of accounts and records showing clearly all
                transactions relating to "MSL"'s
                obligations in respect of this
                Agreement;

            

    

    

    
      	4.10     
                	
              Allow
                any person authorized by "Gambling
                Federation"
                to
                have access at all reasonable times to "MSL"'s
                premises for the purposes of inspecting the books and records to
                the
                extent that this is necessary to ensure "Gambling
                Federation"’s
                interests are being protected as provided for in this
                Agreement;

            

    

    

    
      	4.11     
                	
              Provide
                all computer components, equipment and software needed to provide
                the
                electronic system to operate the Mahjong Games, including back office
                systems that may be accessed by "Gambling
                Federation"
                support staff to provide player
                support;

            

    

    

    
      	4.12      
               	
              Provide
                systems and make best endeavors to prevent collusion, and update
                these
                systems on an ongoing basis where
                appropriate;

            

    

    

    
      	4.13     
                	
              Provide
                support and service as follows to "Gambling
                Federation"
                for technical and software issues:

            

    

    

    
      	4.13.1  
                	
              Respond
                to problem notifications within two (2) hours of being advised of
                a
                problem. "MSL"
                will use its best efforts to solve the problem within twelve (12)
                hours of
                receiving notification of a
                problem;

            

    

    

    
      	4.13.2  
               	
              "MSL"
                has no right to communicate with, nor ownership of, Introduced
                Players.

            

    

     

     

    
 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
      	
              5.

            	
              RIGHTS
                AND OBLIGATIONS OF "GAMBLING
                FEDERATION"

            

    

    

    "Gambling
      Federation"
      shall:

    

    
      	
              5.1

            	
              Promote
                the Mahjong Games and be responsible for all associated
                costs;

            

    

    

    
      	5.2           	
              Not
                bring "MSL"
                into disrepute by marketing or selling the Mahjong Games in any fashion
                deemed to be illegal or
                undesirable;

            

    

    

    
      	
              5.3

            	
              Use
                best endeavors to ensure that its activities do not violate the laws
                of
                any country;

            

    

    

    
      	5.4           	
              Inform
                "MSL"
                as
                soon as possible of any legal difficulties that are encountered in
                respect
                of the promotion of the Mahjong
                Games;

            

    

    

    
      
        	5.5	
                Be
                  responsible for all costs incurred by "Gambling
                  Federation"
                  in
                  the software integration;

              

      

    

    

    
      	5.6          	
              Be
                responsible for and bear all costs with relation to the player
                relationship including:

            

    

    

    
      	5.6.1        	
              Acquiring
                funds into players’ accounts that may be subsequently used for the Mahjong
                Game,

            

    

    
      	 	 

    

    
      	5.6.2       	
              Providing
                customer support to players,

            

    

    
      	 	 

    

    
      	5.6.3    
                	
              Settlement
                of player withdrawals,

            

    

    
      	 	 

    

    
      	5.6.4     
               	
              Managing
                and funding where necessary any shortfalls through charge backs or
                fraud,

            

    

    
      	 	 

    

    
      	5.6.5        	
              Provision
                of all software and hardware systems associated with the player
                relationship;

            

    

    

    
      	5.7           	
              Pay
                an initial and annual License Fee as per Schedule
                1;

            

    

    

    
      	5.8           	
              Deposit
                funds with "MSL"
                to
                establish the Float. The Float will cover the expected maximum deficit
                that would be realized in the course of one (1) month, such float
                to be
                adjusted where necessary during the course of the month in good time
                to
                avoid players being refused games. The initial float amount is set
                as per
                Schedule 1.

            

    

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    
      	
              6.

            	
              INTELLECTUAL
                PROPERTY RIGHTS

            

    

    

    
      	6.1       
                	
              "Gambling
                Federation"
                shall not acquire any right, title or interest in any copyright or
                other
                intellectual property rights in the Mahjong Games by virtue of this
                Agreement;

            

    

    

    
      	6.2        
               	
              "MSL"
                shall not acquire any right, title or interest in any copyright or
                other
                intellectual property rights in "Gambling
                Federation"’s
                trademarks, trade names, copyrights and other rights used or embodied
                in
                or in connection with its
                activities.

            

    

    

    
      	7.	
              VALIDITY 

            

    

    

    
      	
              7.1

            	
              If
                any provision of this Agreement
                is found or held to be invalid or unenforceable, the validity and
                enforceability of all the other provisions of this Agreement
                will not be affected thereby.

            

    

    

    
      	8.	
              CONFIDENTIALITY 

            

    

    

    
      	
              8.1

            	
              "MSL"
                shall hold in confidence all Confidential
                Information
                received and not divulge the Confidential
                Information
                to any person, including any of its personnel, save for Parties directly
                involved with the execution of this
                Agreement;

            

    

    

    
      	8.2        
               	
              "Gambling
                Federation"
                shall have full rights to and access to the Confidential
                Information.

            

    

    

    
      	8.3          	
              The
                parties shall prevent disclosure of the Confidential
                Information,
                except as may be required by law.

            

    

    

    
      	8.4       
                	
              "MSL"
                shall ensure that each staff member or external party having access
                to
                Confidential Information is bound by individual non-disclosure
                agreements.

            

    

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
      	9.	
              TERMINATION
                OF AGREEMENT

            

    

    

    
      	
              9.1

            	
              This
                Agreement may be terminated with immediate effect by "MSL"
                in
                the event of "Gambling
                Federation"
                not complying with the "MSL"
                requirements in terms of clause 5.2. This clause shall not be unreasonably
                invoked.

            

    

     

    
      	9.2          	
              Each
                party may terminate this Agreement by written notice to the other
                Party in
                accordance with clause 2.2 after the initial
                period.

            

    

     

    
      	9.3        
               	
              Either
                Party may terminate this Agreement by written notice if the other
                is in
                breach of any of the obligations of this Agreement and fails to remedy
                such breach within thirty (30) days after written notice to do so
                has been
                dispatched by the other Party.

            

    

     

    
      	9.4        
               	
              Either
                Party may terminate this Agreement immediately and without notice
                if:

            

    

     

    
      	9.4.1    
                	
              the
                other enters into a composition with its
                creditors;

            

    

     

    
      	9.4.2       	
              an
                order is made for the winding up of the
                other;

            

    

     

    
      	9.4.3     
               	
              an
                effective resolution is passed for the winding up of the other (other
                than
                for the purposes of amalgamation or reconstruction on terms approved
                by
                the first Party (such approval not to be unreasonably withheld));
                or

            

    

     

    
      	9.4.4    
                	
              the
                other has a receiver, manager, administrative receiver or administrator
                appointed in respect of it.

            

    

     

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	9.5	
              Effect
                of Termination

            

    

     

    The
      termination of the Agreement, for whatever reason, shall not affect the rights
      of either of the parties:

     

    
      	9.5.1        	
              that
                may have accrued before the termination of the Agreement;
                or

            

    

     

    
      	9.5.2        
              	
              which
                specifically or by their nature survive the termination of the
                Agreement.

            

    

     

    
      	9.6           
              	
              On
                termination, "MSL"
                will provide, in an electronic format acceptable to "Gambling
                Federation",
                a
                copy of all the Confidential Information relating to "Gambling
                Federation".

            

    

     

    
      	9.7       
                	
              "MSL"
                shall destroy all copies of Confidential Information relating to
                "Gambling
                Federation"
                once it is no longer required to be
                kept.

            

    

     

    

    
      	10.	
              DOMICILIUM
                

            

    

    

    The
      Parties elect the following addresses as their respective domicilium
      citandi et executandi:

    

    
      	10.1         	
              "Gambling
                Federation":

               

              APEX
                Holdings Corp.

              76
                Dean Street

              Belize
                City, Belize

              Central
                America

            

    

     

     

     

    

    
      	10.2	
              "MSL":

              Mahjong Systems Limited

              Britannic House 

              Providenciales

              Turks and Caicos Islands

              
                B.W.I  

              

            

    

     

    
 

    
      	
              10.3

            	
              Either
                of the Parties may change its
                domicilium citandi et executandi to
                another address within the same country, by way of a notice to the
                other
                party to this Agreement, provided that such a notice is received
                by the
                addressee, at least 7 (seven) calendar days prior to such a change
                taking
                effect.

            

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    
 

    
      	11.	
              NOTICES
                

            

    

    

    The
      Parties elect the following addresses at which all notices and other
      communications must be delivered for the purposes of this Agreement:

    

    
      	11.1	
              "Gambling
                Federation":

            

    

    

    
      	11.1.1      
                 	
              By
                hand at:

               

              APEX
                Holdings Corp.

              76
                Dean Street

              Belize
                City, Belize

              Central
                America

            

    

                                                        

                    For
      the
      attention of: Mr.
      Flaviano Fogli;

    

    
      
        	11.2	
                "MSL":

              

      

    

    

      

      
        
          	11.1.2	
                  By
                    hand at:

                   

                  Brittanic House, Providenciales

                  Turks and Caicos Islands,
                    B.W.I.

                

        

      

       

                     
        For the attention of: Mr.
        Ian
        Sherrington

    

    
      

      
        
          	11.2.2	
                  With
                    a copy to:

                  
                    Events
                      International Holding
                      Corporation

                  

                  759 Square Victoria, Suite 300

                  
                    Montreal,
                      Quebec, H2Y
                      2J7

                  

                

        

      

                    
        

                      For
        the attention of: Mr.
        Albert Barbusci

    

    

    
      	
              11.3
                

            	
              Any
                notice or communication required or permitted to be given in terms
                of this
                Agreement
                shall only be valid and effective if it is in
                writing.

            

    

    

    
      	
              11.4
                

            	
              Any
                notice addressed to either of the Parties and contained in a correctly
                addressed envelope and sent by registered post to it at its chosen
                address
                or delivered by hand at its chosen address to a responsible person
                on any
                day of the week between 09h00 and 16h00, excluding Saturdays, Sundays
                and
                public holidays, shall be deemed to have been received, unless the
                contrary is proved, if sent by registered post, on the fourteenth
                calendar
                day after posting and, in the case of hand delivery, on the day of
                delivery.

            

    

    

    
      	
              11.5
                

            	
              Any
                notice sent by telefax to either of the Parties at its telefax number
                shall be deemed, unless the contrary is proved, to have been
                received:

            

    

    

    
      	11.5.1	
              if
                it is transmitted on any day of the week between 09h00 and 16h00,
                excluding Saturdays, Sundays and public holidays, within 2 (two)
                hours of
                transmission;

            

    

    

    
      	11.5.2	
              if
                it is transmitted outside of these times, within two hours of the
                commencement of the next day of the week between 09h00 and 16h00,
                excluding Saturdays, Sundays and public holidays, after it has been
                transmitted.

            

    

    

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    

    12. FORCE
      MAJEURE

    

    
      	
              12.1
                

            	
              Neither
                of the Parties shall be liable for a failure to perform any of its
                obligations insofar as it proves:

            

    

    

    
      	12.1.1	
              that
                the failure was due to an impediment beyond its
                control;

            

      	 	 

    

    
      	12.1.2	
              that
                it could not reasonably be expected to have taken the impediment
                and its
                effects upon the party’s ability to perform into account at the time of
                the conclusion of this Agreement; and

            

      	 	 

    

    
      	12.1.3	
              that
                it could not reasonably have avoided or overcome the impediment or
                at
                least its effects.

            

    

    

    
      	
              12.2
                

            	
              An
                impediment, as aforesaid, may result from events such as the following,
                this enumeration not being
                exhaustive:

            

    

    

    
      	12.2.1	
              war,
                whether declared or not, civil war, civil violence, riots and revolutions,
                acts of sabotage;

            

      	 	 

    

    
      	12.2.2	
              natural
                disasters such as violent storms, cyclones, earthquakes, tidal waves,
                floods, destruction by lightning; 

            

      	 	 

    

    
      	12.2.3	
              explosions,
                fires, destruction of machines, factories and any kind of
                installations;

            

      	 	 

    

    
      	12.2.4	
              boycotts,
                strikes and lockouts of all kinds, go-slows, occupation of factories
                and
                premises and work stoppages;

            

      	 	 

    

    
      	12.2.5	
              acts
                of authority, whether lawful or unlawful, apart from acts from which
                the
                party seeking relief has assumed the risk by virtue of any other
                provisions of this Agreement. 

            

    

    

    
      	
              12.3
                

            	
              For
                the purposes of this clause “impediment” does not include lack of
                authorisations, of licences, of permits or of approvals necessary
                for the
                performance of this Agreement
                and to be issued by the appropriate public
                authority.

            

    

    

    
      	
              12.4
                

            	
              Relief
                from liability for non-performance by reason of the provisions of
                this
                clause shall commence on the date upon which the party seeking relief
                gives Notice
                of the impediment relied upon and shall terminate upon the date upon
                which
                such impediment ceases to exist; provided that if such impediment
                continues for a period of more than sixty (60) days either of the
                Parties
                shall be entitled to terminate this Agreement.

            

    

    

    
      	13.	
              ENTIRE
                AGREEMENT AND VARIATIONS 

            

    

    

    
      	
              13.1
                

            	
              This
                Agreement
                including schedule 1 constitutes the whole agreement between the
                Parties
                and supersedes all prior verbal or written agreements or understandings
                or
                representations by or between the Parties
                regarding the subject matter of this Agreement,
                and the Parties
                will not be entitled to rely, in any dispute regarding this Agreement,
                on any terms, conditions or representations not expressly contained
                in
                this Agreement.

            

    

    

    
      	
              13.2
                

            	
              No
                variation of or addition to this Agreement
                will be of any force or effect unless reduced to writing and signed
                by or
                on behalf of the Parties.

            

    

    

    
      	
              13.3 

            	
              Neither
                party to this Agreement
                has given any warranty or made any representation to the other party,
                other than any warranty or representation that may be expressly set
                out in
                this
                Agreement.

            

    

     

    
       

      
        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

          
 

        

      

    

    
      	14.	
              RELAXATION
                

            

    

    

    No
      indulgence, leniency or extension of a right, which either of the Parties
      may have in terms of this Agreement,
      and which either party (“the grantor”) may grant or show to the other party,
      shall in any way prejudice the grantor, or preclude the grantor from exercising
      any of the rights that it has derived from this Agreement,
      or be construed as a waiver by the grantor of that right.

     

    
      
        
          
            	15.	
                    WAIVER

                  

          

        

        

      

    

    No
      waiver
      on the part of either party to this Agreement of any rights
      arising from a breach of any provision of this Agreement
      will constitute
      a
      waiver of rights in respect of any subsequent breach of the same or any other
      provision.

    

    
      	16.	
              SEVERABILITY

            

    

    

    In
      the
      event that any of the terms of this Agreement
      are found to be invalid, unlawful or unenforceable, such terms will be severable
      from the remaining terms, which will continue to be valid and
      enforceable.

    

    
      	17.	
              DRAFTING
                COSTS 

            

    

    

    Each
      of
      the Parties shall bear its own cost incurred as a result of the negotiation,
      drafting and finalisation of this Agreement, which shall include, but not be
      limited to, all legal fees.

    

    
      	18.	
              GOVERNING
                LAW 

            

    

    

    The
      validity and interpretation of this Agreement
      will be governed by the laws of the Turks and Caicos Islands.

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    

    

    I,
      Larry
      Hrabi, the undersigned, herewith confirm that my position within "Gambling
      Federation"
      is that
      of President and state that I am duly authorized to enter into this
      Agreement,
      which I herewith do, on this the ______________

    by
      signing this
      Agreement,
      for and on behalf of "Gambling
      Federation".

    

    

    Witnesses:

    
      	
              1
                

            	 	 
	 	 	 
	
              2
                

            	 	
              Signature
                on behalf of Apex Holdings Corporation.

            
	 	 	 

    

    

    

    

    I,
      Ian
      Sherrington, the undersigned, herewith confirm that my position within the
      Mahjong Systems Limited is that of Director and state that I am duly authorized
      to enter into this
      Agreement,
      which I herewith do, 

    on
      this
      the ________________

    by
      signing this
      Agreement,
      for and on behalf of the "MSL".

    

    

    Witnesses:

    
      	
              1
                

            	 	 
	 	 	 
	
              2
                

            	 	
              Signature
                on behalf of Mahjong Systems
                Limited

            

    

     

     

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    

    

    Schedule
      1 

     

     

    

        
          	
                   

                  Revenue
                    Share, License Fees and Initial Float Amount

                
	
                   

                  Initial
                    Float Amount

                	
                   

                  US$
                    *

                
	
                   

                  First
                    Year License Fee

                	
                   

                  US$
                    *

                
	
                   

                  Subsequent
                    Annual License Fees

                	
                   *

                
	
                   

                  Revenue
                    Share 

                   

                  Revenue
                    is shared according to the table on the right. 

                	
                  Portion
                    of Gross monthly rake derived from Gambling Federation Players
                    (US$)

                	
                  Revenue
                    share paid to Gambling Federation

                
	
                  <=
                    *

                	
                  *
                    of total amount

                
	
                  * -
                    *

                	
                  * of
                    total amount

                
	
                  *-
                    *

                	
                  *
                    of total amount

                
	
                  *-
                    *

                	
                  *
                    of first *

                  *
                    of amount > *

                
	
                  * -
                    *

                	
                  *
                    of first *

                  *
                    of second *

                  *
                    of amount > *

                
	
                  >
                    *

                	
                  *
                    of first *

                  *
                    of second *

                  *
                    of third *

                  *
                    of amount > *

                

        

      

    

    

        *
          The
          confidential portion has been so omitted and filed separately with the
          Commission.Exhibit 4.3

    Exhibit
      4.3

 

    

    

    

    AGREEMENT

    

    Betex
      (Group) PLC

    

    and

    

    MAHJONG
      SYSTEMS LIMITED 

     

     

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    MEMORANDUM
      OF AGREEMENT

    

    

    

    entered
      into between:

    

    

    Betex
      (Group) PLC

    

    

    

    A
      company
      duly incorporated under the laws of the United Kingdom

    

    

    

    and

    

    

    

    MAHJONG
      SYSTEMS LIMITED 

    

    A
      company
      domiciled in the Turks and Caicos Islands that offers a centralised Mahjong
      Gaming System and manages the settling of winnings and losses between
      participants.

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    

    

    

    RECITALS

    

    WHEREAS "Betex
      (Group) PLC"
      ("Betex")
      operates a gaming web site as part of their business;

    

    AND
      WHEREAS "Mahjong Systems Limited"
      ("MSL")
      is a
      company established to operate a centralised gaming engine and settlement system
      for the benefit of the customers of its partners;

    

    AND
      WHEREAS "Betex"
      wishes
      to
      integrate a multi player mahjong game into its existing gaming web
      site;

    

    NOW
      THEREFORE
      the
      Parties agree to the following:

    

    1. DEFINITIONS
      

    

    Unless
      the contrary is clearly indicated, the following words and/or phrases, shall
      have the following meaning:

     

    

      
        	
                1.1
                  

              	
                “this
                  / the Agreement” 

              	
                shall
                  mean this written document together with all written appendices,
                  annexures, exhibits or amendments attached to it from time to time
                  by
                  written agreement between the parties;

              
	 	 	 
	
                1.2
                  

              	
                “Commencement
                  Date” 

              	
                shall
                  mean the date on which the last of the duly authorized representatives
                  of
                  the Parties affixes their signatures to the Agreement;

              
	 	 	 
	
                1.3
                  

              	
                “Confidential
                  Information” 

              	
                shall
                  mean the personal information of the Introduced Players, including
                  personal information and play history;

              
	 	 	 
	
                1.4
                  

              	
                “Currency”
                  

              	
                shall
                  mean (not limited to) United States Dollars or EUROs;

              
	 	 	 
	
                1.5

              	
                "Rake"

              	
                shall
                  mean the share, in the Currency, of the winnings paid in each game
                  that is
                  collected by “MSL” as a fee for its service;

              
	 	 	 
	
                1.6

              	
                "MSL"

              	
                shall
                  mean a company with registered address Mahjong Systems Limited,
                  Britannic
                  House, Providenciales, Turks and Caicos Islands, B.W.I., herein
                  represented by its duly authorized representative, Mr. Ian
                  Sherrington;

              
	 	 	 
	
                1.7

              	
                "Introduced
                  Players"

              	
                shall
                  mean players of the Mahjong Games, introduced by "Betex" as recorded
                  by
                  the mahjong system;

              
	 	 	 
	
                1.8

              	
                "Mahjong
                  Games"

              	
                shall
                  mean the multi player Mahjong game and any other games that "MSL"
                  may make
                  available from time to time;

              
	 	 	 
	
                1.9
                  

              	
                “Parties”
                  

              	
                shall
                  mean "Betex" and "MSL" and “Party” shall be construed
                  accordingly;

              

      

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        	 	 	 
	
                1.10

              	
                “Partners”

              	
                shall
                  mean all gaming systems that provide players and integrate with
                  "MSL" in a
                  manner similar to that contemplated in this agreement;

              
	 	 	 
	
                1.11

              	
                “Float”

              	
                shall
                  mean the funds held as Deposit by "MSL" and adjusted in the monthly
                  settlement;

              
	 	 	 
	
                1.12

              	
                “Float
                  Amount”

              	
                The
                  amount of Float that is agreed between "MSL" and "Betex", as adjusted
                  from
                  time to time, and held by "MSL" to cover possible losses by Introduced
                  Players;

              
	 	 	 
	
                1.13
                  

              	
                "Betex"

              	
                shall
                  mean Betex (Group) PLC, a company duly incorporated under the laws
                  of the
                  United Kingdom, having its address for service under this Agreement
                  at
                  Suite 8.01, Exchange Tower, 2 Harbour Exchange Square, London E14
                  9GB,
                  United Kingdom;

              
	 	 	 
	1.14 	Any
                reference to the singular includes the plural and vice versa;
	 	 	 
	1.15 	Any
                reference to natural persons includes legal persons and vice
                versa;
	 	 
	1.16 	Any
                reference
                to a gender includes other genders;
	 	 
	1.17 	The
                clause
                headings in this agreement have been inserted for convenience only
                and
                shall not be taken into account in its
                interpretation.

      

      
         

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

    

    

    
      	2.	
              DURATION

            

    

    

    
      	2.1	
              The
                Agreement shall commence on the Commencement
                Date.

            

    

    

    
      	
              2.2

            	
              The
                Agreement will continue in force for a period of three (3) years
                calculated from the Commencement
                Date
                and thereafter self-renew for further periods of three (3) years
                subject
                to either of the Parties’ right to terminate the Agreement, after the
                expiry of the initial three-(3)-year term, by giving one (1) month's
                written notice to expire no earlier than the end of the initial three
                (3)
                year term. In case of any such renewal, any cost increases (if any)
                shall
                be at the UK rate of inflation
                only.

            

    

    

    
      	
              3.

            	
              RIGHT
                OF PARTICIPATION IN REVENUE
                SHARING

            

    

    

    
      	
              3.1

            	
              The
                Parties agree that other Partners may participate in revenue sharing
                with
                "MSL"
                in
                a similar manner to that contemplated in this Agreement.
                

            

    

    

    
      	4.	
              RIGHT
                AND OBLIGATIONS OF MSL

            

    

    

    "MSL"
      shall:

    

    
      	
              4.1

            	
              Have
                the right to use third parties to perform any of these rights and
                obligations;

            

    

    

    
      	
              4.2

            	
              Ensure
                that it is legally authorized to provide the Mahjong Games and owns
                and
                shall maintain in full force and effect throughout the term of this
                Agreement all licenses, authorizations and other permissions necessary
                for
                the provision of the Mahjong Games both at the Commencement Date
                and
                throughout the term of the
                Agreement;

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
 

    
      	4.3	
              Ensure
                that all transactions in respect of its obligations in terms of this
                Agreement are conducted in the Currency as defined in the systems
                specifications;

            

    

    

    
      	
              4.4

            	
              Settle
                all net differences between Partners on a monthly basis within thirty
                (30)
                days of the end of each month by, 

            

    

    

    
      	
              4.4.1

            	
              in
                the event that the Float is less than the Float Amount, instructing
                a
                Partner to remit funds to return the Float to the Float Amount;
                

            

      	 	 

    

    
      	
              4.4.2

            	
              in
                the event that the Float is greater than the Float Amount, paying
                the
                Partner the excess amount;

            

    

    

    
      	
              4.5

            	
              Pay
                the "Betex"
                commissions, as a percentage of the Rake, to "Betex"
                as
                defined in Schedule 1, these commissions settled in the same transactions
                as the settlement defined in clause 4.4;

            

    

    

    
      	
              4.6

            	
              Provide
                monthly report of Float movements and commissions due to "Betex"
                within 7 days of the end of a particular month and provide real-time
                access to financial and game
                information;

            

    

    

    
      	
              4.7

            	
              Hold
                the Float Amount in trust for "Betex"
                and in the event of termination of this Agreement return all amounts
                (including all outstanding payments due to “Betex”
                under
                this agreement) to
                "Betex"
                within
                7 days of such termination;

            

    

    

    
      	
              4.8

            	
              Monitor
                the Float Amount and inform "Betex"
                as
                soon as reasonably practical if it is insufficient for the current
                play
                rate;

            

    

    

    
      	
              4.9

            	
              Maintain
                throughout the term of this Agreement and for 12 months thereafter
                keep
                full and proper books of accounts and records showing clearly all
                transactions relating to "MSL"'s
                obligations in respect of this
                Agreement;

            

    

    

    
      	
              4.10

            	
              Allow
                any person authorized by "Betex"
                to
                have access at all reasonable times to "MSL"'s
                premises for the purposes of inspecting the books and records (including
                all relevant electronic records) to the extent that this is 
                necessary
                  to ensure "Betex"’s
                  interests are being protected as provided for in this
                  Agreement;

              

            

    

    
 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
 

    

    
      	
              4.11

            	
              Provide
                software necessary to enable “Betex”
                and potential players to access the Mahjong Games within 30 days
                of the
                Commencement Date;

            

    

     

    
      	
              4.12

            	
              Use
                its best endeavors to ensure that the Mahjong Games are at all times
                available to potential and Introduced Players and that all information
                (Including Confidential Information) supplied by “MSL”
                as
                part of the Mahjong Games shall be up to date and error
                free;

            

    

    

    
      	
              4.13

            	
              Use
                its best endeavors to ensure that any planned outages of the Mahjong
                Games
                are notified to “Betex”
                at
                least 28 days in advance and that any such outages are scheduled
                so as to
                cause as little disruption as possible to “Betex”,

            

    

    

    
      	
              4.14

            	
              Use
                its best endeavors to ensure that any unplanned outages of the Mahjong
                Games shall be notified to “Betex”
                as
                soon as reasonably possible and in any event prior to the
                outage;

            

    

    

    
      	
              4.15

            	
              Provide
                all computer components, equipment and software needed to provide
                the
                electronic system to operate the Mahjong Games, including back office
                systems that may be accessed by “Betex”
                support
                staff to provide player support;

            

    

    

    
      	
              4.16

            	
              Provide
                systems and use best endeavors to prevent collusion, and update these
                systems on an ongoing basis where
                appropriate;

            

    

    

    
      	
              4.17

            	
              Provide
                support and service to “Betex”
                for technical and software issues, responding to problem notifications
                within two (2) hours of being advised of a problem and using its
                best
                endeavors to solve the problem within twelve (12) hours of receiving
                notification of a problem;

            

    

    

    
      	
              4.18

            	
              “MSL”
                acknowledges that it has no right to communicate with, nor ownership
                of,
                Introduced Players;

            

    

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    
 

    
      	
              4.19

            	
              Ensure
                that the Mahjong Games and all related content comply at all times
                with
                the licenses, authorizations and other permissions governing the
                provision
                of such games in its licensed server jurisdiction together with those
                of
                such other places as “MSL”
                may conduct its business from time to time throughout the term of
                this
                Agreement;

            

    

    

    
      	
              4.20

            	
              Ensure
                that the Mahjong Games and all related content shall not infringe
                any
                intellectual property rights of a third party nor does it violate
                any
                other third party rights;

            

    

    

    
      	
              4.21

            	
              Not
                do anything to bring (or which is likely to bring) “Betex”
                (Or its employees, director or employees) into
                disrepute;

            

    

    

    
      	
              4.22

            	
              Fully
                indemnify and keep fully indemnified “Betex”
                (and its employees, directors and agents) against any liability,
                damage,
                expense, claim or cost suffered by “Betex”
                (or its employee, director or agent) as a result of any breach by
                “MSL”
                of
                the undertakings given in clauses 4.19, 4.20 and 4.21
                above.

            

    

    

    

    
      	5.	
              RIGHTS
                AND OBLIGATIONS OF "BETEX"

            

    

    

    "Betex"
      shall:

    

    
      	
              5.1

            	
              Promote
                the Mahjong Games and be responsible for all associated
                costs;

            

    

    

    
      	
              5.2

            	
              Not
                bring "MSL"
                into disrepute by marketing or selling the Mahjong Games in any fashion
                deemed to be illegal or
                undesirable;

            

    

    

    
      	
              5.3

            	
              Fully
                indemnify and keep fully indemnified “MSL”
                (and its employees, directors and agents) against any liability,
                damage,
                expense, claim or cost suffered by “MSL”
                (or its employee, director or agent) as a result of any breach by
                “Betex”
                of
                the undertaking given in clause 5.2
                above;

            

    

    
 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
 

    

    
      	
              5.3

            	
              Use
                best endeavors to ensure that its activities do not violate the laws
                of
                any country to which the Mahjong Games are
                aimed;

            

    

    

    
      	
              5.4

            	
              Inform
                "MSL"
                as
                soon as possible of any legal difficulties that are encountered in
                respect
                of the promotion of the Mahjong
                Games;

            

    

    

    
      	
              5.5

            	
              Be
                responsible for all costs incurred by "Betex"
                in
                the software integration;

            

    

    

    
      	
              5.6

            	
              Be
                responsible for and bear all costs with relation to the player
                relationship including:

            

    

    

    
      	
              5.6.1

            	
              Acquiring
                funds into players’ accounts that may be subsequently used for the Mahjong
                Game,

            

      	 	 

    

    
      	
              5.6.2

            	
              Providing
                customer support to players,

            

      	 	 

    

    
      	
              5.6.3

            	
              Settlement
                of player withdrawals,

            

      	 	 

    

    
      	
              5.6.4

            	
              Managing
                and funding where necessary any shortfalls through charge backs or
                fraud,

            

      	 	 

    

    
      	
              5.6.5

            	
              Provision
                of all software and hardware systems associated with the player
                relationship;

            

    

    

    
      	
              5.7

            	
              Pay
                an initial and annual License Fee as per Schedule 1, the initial
                license
                fee being payable 50% on signing the contract and 50% on going
                live;

            

    

    

    
      	
              5.8

            	
              Deposit
                funds with "MSL"
                to
                establish the Float. The Float will cover the expected maximum deficit
                that would be realized in the course of one (1) month, such float
                to be
                adjusted where necessary during the course of the month in good time
                to
                avoid players being refused games. The initial float amount is set
                as per
                Schedule 1.

            

    

    

    
      	6.	
              INTELLECTUAL
                PROPERTY RIGHTS

            

    

    

    
      	
              6.1

            	
              "Betex"
                shall acquire a non-exclusive, royalty-free, worldwide license from
                “MSL”
                for:

            

    

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    
 

    
      	
              6.1.1

            	
              itself
                and all Introduced Players to use the Mahjong Games throughout the
                term of
                this Agreement

            

    

    

    
      	
              6.1.2

            	
              itself
                to use all trade marks, service marks, logos and other distinctive
                brand
                features to make available the Mahjong Games and undertake promotion
                of
                the availability of the same on the “Betex”
                website.

            

    

    

    
      	
              6.2

            	
              “Betex”
                shall not acquire any right, title or interest in any copyright or
                other
                intellectual property rights in the Mahjong Games by virtue of this
                Agreement;

            

    

    

    
      	
              6.3

            	
              "MSL"
                shall not acquire any right, title or interest in any copyright or
                other
                intellectual property rights in "Betex"’s
                trademarks, trade names, copyrights and other rights used or embodied
                in
                or in connection with its
                activities.

            

    

    

    
      	7.	
              VALIDITY 

            

    

    

    
      	
              7.1

            	
              If
                any provision of this Agreement
                is found or held to be invalid or unenforceable, the validity and
                enforceability of all the other provisions of this Agreement
                will not be affected thereby.

            

    

    

    
      	8.	
              CONFIDENTIALITY 

            

    

    

    
      	
              8.1

            	
              "MSL"
                shall hold in confidence all Confidential
                Information
                received and not divulge the Confidential
                Information
                to any person, including any of its personnel, save for Parties directly
                involved with the execution of this
                Agreement;

            

    

    

    
      	
              8.2

            	
              "Betex"
                shall have full rights to and access to the Confidential
                Information.

            

    

    

    
      	
              8.3

            	
              The
                parties shall prevent disclosure of the Confidential
                Information,
                except as may be required by law.

            

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    
      	
              8.4

            	
              "MSL"
                shall ensure that each staff member or external party having access
                to
                Confidential Information is bound by individual non-disclosure
                agreements.

            

    

    

    
      	9.	
              TERMINATION
                OF AGREEMENT

            

    

    

    
      	
              9.1

            	
              This
                Agreement may be terminated with immediate effect by "MSL"
                in
                the event of "Betex"
                not complying with the "MSL"
                requirements in terms of clause 5.2. This clause shall not be unreasonably
                invoked.

            

    

     

    
      	
              9.2

            	
              Each
                party may terminate this Agreement by written notice to the other
                Party in
                accordance with clause 2.2 after the initial
                period.

            

    

     

    
      	
              9.3

            	
              Either
                Party may terminate this Agreement by written notice if the other
                Party
                commits a breach of the Agreement:

            

    

     

    
      	
              9.3.1

            	
              which
                is material and unremediable; or

            

    

     

    
      	
              9.3.2

            	
              which
                is material and remediable but which remains unremedied at the end
                of a
                reasonable period of time (of not less than 30 days); this period
                of time,
                the breach and the reasonably required remedy having been previously
                specified by the non-breaching Party in written notice to the breaching
                Party, or;

            

    

     

    
      	
              9.3.3

            	
              which
                is a minor breach of a kind that has occurred several times before
                and
                following the non-breaching Party serving a notice to the breaching
                Party
                giving reasonable period (of not less than 30 days) within which
                to
                prevent a further occurrence; a breach of the kind specified in the
                notice
                occurs again.

            

    

     

    
      	
              9.4

            	
              Either
                Party may terminate this Agreement immediately and without notice
                if:

            

    

     

    
      	
              9.4.1

            	
              the
                other enters into a composition with its
                creditors;

            

    

     

    
      	
              9.4.2

            	
              an
                order is made for the winding up of the
                other;

            

    

     

    
      	
              9.4.3

            	
              an
                effective resolution is passed for the winding up of the other (other
                than
                for the purposes of amalgamation or reconstruction on terms approved
                by
                the first Party (such approval not to be unreasonably withheld));
                or

            

    

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	
              9.4.4

            	
              the
                other has a receiver, manager, administrative receiver or administrator
                appointed in respect of it.

            

    

     

     

    
      
        	9.5	
                Effect
                  of Termination

              

      

    

     

    The
      termination of the Agreement, for whatever reason, shall not affect the rights
      of either of the parties:

     

    
      	
              9.5.1

            	
              that
                may have accrued before the termination of the Agreement;
                or

            

    

     

    
      	
              9.5.2

            	
              which
                specifically or by their nature survive the termination of the
                Agreement.

            

    

     

    
      	
              9.6

            	
              On
                termination, "MSL"
                will provide, in an electronic format acceptable to "Betex",
                a
                copy of all the Confidential Information relating to "Betex".

            

    

     

    
      	
              9.7

            	
              "MSL"
                shall immediately destroy or return to “Betex”
                (at “Betex”’s
                option) all copies (including electronic copies) of Confidential
                Information in “MSL”’s
                possession, custody or control and in the case of destruction certify
                to
                "Betex"
                that it has done so.

            

    

     

    

    
      	10.	
              DOMICILIUM
                

            

    

    

    The
      Parties elect the following addresses as their respective domicilium
      citandi et executandi:

    

    
      	
              10.1

            	
              "Betex":

              Betex
                (Group) PLC:

              Suite
                8.01, Exchange Tower

              2
                Harbour Exchange Square

              London
                E14 9GB

              United
                Kingdom

            

    

     

     

    
      	10.2	
              "MSL":

              Mahjong Systems Limited

              Britannic
                House

              Providenciales

              Turks and Caicos Islands

              
                B.W.I

              

            

    

     

     

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    
 

    
      	
              10.3

            	
              Either
                of the Parties may change its
                domicilium citandi et executandi to
                another address within the same country, by way of a notice to the
                other
                party to this Agreement, provided that such a notice is received
                by the
                addressee, at least 7 (seven) calendar days prior to such a change
                taking
                effect.

            

    

    

    
      	11.	
              NOTICES
                

            

    

    

    The
      Parties elect the following addresses at which all notices and other
      communications must be delivered for the purposes of this Agreement:

    

    
      	11.1	
              "Betex":

            

    

    

    
      
        
          	11.1.1	
                  By
                    hand at:

                  Suite 8.01, Exchange Tower

                  2
                    Harbour Exchange Square

                  London
                    E14 9GB

                  United Kingdom

                  Fax:
                    +44 (0)20 7510
                    4111

                

        

      

    

     

         For
      the attention of: Mr.
      Peter
      Greenhill, Chief Operating Officer;

    

    
      	11.2	
              "MSL":

            

    

    

    
      
        
          	11.1.2	
                  By
                    hand at:

                  Brittanic
                    House, Providenciales

                  Turks
                    and Caicos Islands, B.W.I.

                  For
                    the attention of: Mr.
                    Ian
                    Sherrington

                

        

      

    

    

    Fax:

     

    
      
        
          	11.2.2	
                  With
                    a copy to:

                  Events
                    International Holding Corporation

                  759
                    Square Victoria, Suite 300

                  Montreal,
                    Quebec, H2Y 2J7

                  For
                    the attention of: Mr.
                    Albert Barbusci

                  Fax:
                    +1
                    514-288-0588

                

        

      

    

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	11.3	
              Any
                notice or communication required or permitted to be given in terms
                of this
                Agreement
                shall only be valid and effective if it is in
                writing.

            

    

    

    
      	
              11.4
                

            	
              Any
                notice addressed to either of the Parties and contained in a correctly
                addressed envelope and sent by registered post to it at its chosen
                address
                or delivered by hand at its chosen address to a responsible person
                on any
                day of the week between 09h00 and 16h00, excluding Saturdays, Sundays
                and
                public holidays, shall be deemed to have been received, unless the
                contrary is proved, if sent by registered post, on the fourteenth
                calendar
                day after posting and, in the case of hand delivery, on the day of
                delivery.

            

    

    

    
      	
              11.5
                

            	
              Any
                notice sent by telefax to either of the Parties at its telefax number
                states overleaf (or such other telefax number as a Party may notify
                to the
                other Party from time to time) shall be deemed, unless the contrary
                is
                proved, to have been received:

            

    

    

    
      	11.5.1	
              if
                it is transmitted on any day of the week between 09h00 and 16h00,
                excluding Saturdays, Sundays and public holidays, within 2 (two)
                hours of
                transmission;

            

    

    

    
      	11.5.2	
              if
                it is transmitted outside of these times, within two hours of the
                commencement of the next day of the week between 09h00 and 16h00,
                excluding Saturdays, Sundays and public holidays, after it has been
                transmitted.

            

    

    

    
      	
              11.6
                

            	A
              Party shall not be entitled to rely on an email as a valid method of
              giving notice unless and until its receipt has been verified by a
              non-automated email response or by a reaction by the other Party in
              response to the email.

    

    

    12. FORCE
      MAJEURE

    

    
      	
              12.1
                

            	
              Neither
                of the Parties shall be liable for a failure to perform any of its
                obligations insofar as it proves:

            

    

     

    
 

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    
      	12.1.1	
              that
                the failure was due to an impediment beyond its
                control;

            

    

    
      	12.1.2	
              that
                it could not reasonably be expected to have taken the impediment
                and its
                effects upon the party’s ability to perform into account at the time of
                the conclusion of this Agreement;
                and

            

    

    
      	12.1.3	
              that
                it could not reasonably have avoided or overcome the impediment or
                at
                least its effects.

            

    

    

    
      	
              12.2
                

            	
              An
                impediment, as aforesaid, may result from events such as the following,
                this enumeration not being
                exhaustive:

            

    

    

    
      	12.2.1	
              war,
                whether declared or not, civil war, civil violence, riots and revolutions,
                acts of sabotage;

            

    

    
      	12.2.2	
              natural
                disasters such as violent storms, cyclones, earthquakes, tidal waves,
                floods, destruction by lightning; 

            

    

    
      	12.2.3	
              explosions,
                fires, destruction of machines, factories and any kind of
                installations;

            

    

    
      	12.2.4	
              boycotts,
                strikes and lockouts of all kinds, go-slows, occupation of factories
                and
                premises and work stoppages provided that any such action does not
                involve
                either Party’s workforce;

            

    

    
      	12.2.5	
              acts
                of authority, whether lawful or unlawful, apart from acts from which
                the
                party seeking relief has assumed the risk by virtue of any other
                provisions of this Agreement. 

            

    

    

    
      	
              12.3
                

            	
              For
                the purposes of this clause “impediment” does not include lack of
                authorisations, of licences, of permits or of approvals necessary
                for the
                performance of this Agreement
                and to be issued by the appropriate public
                authority.

            

    

    

    
      	
              12.4
                

            	
              Relief
                from liability for non-performance by reason of the provisions of
                this
                clause shall commence on the date upon which the party seeking relief
                gives Notice
                of the impediment relied upon and shall terminate upon the date upon
                which
                such impediment ceases to exist; provided that if such impediment
                continues for a period of more than sixty (60) days either of the
                Parties
                shall be entitled to terminate this Agreement
                immediately upon written notice to the other
                Party.

            

    

    

    13. ENTIRE
      AGREEMENT AND VARIATIONS 

    

    
      	
              13.1
                

            	
              This
                Agreement
                including schedule 1 constitutes the whole agreement between the
                Parties
                and supersedes all prior verbal or written agreements or understandings
                or
                representations by or between the Parties
                regarding the subject matter of this Agreement.
                Except as expressly stated in writing in this Agreement, neither
                Party
                has relied upon any statement or representation made by he other
                Party in
                agreeing to enter into this Agreement. Nothing in the clause purports
                to
                exclude liability for statements or representations made
                fraudulently.

            

    

    

    
      	
              13.2
                

            	
              No
                variation of or addition to this Agreement
                will be of any force or effect unless reduced to writing and signed
                by or
                on behalf of the Parties.

            

    

     

    
 

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    
      	
              14.

            	
              RELAXATION
                

            

    

    

    No
      indulgence, leniency or extension of a right, which either of the Parties
      may have in terms of this Agreement,
      and which either party (“the grantor”) may grant or show to the other party,
      shall in any way prejudice the grantor, or preclude the grantor from exercising
      any of the rights that it has derived from this Agreement,
      or be construed as a waiver by the grantor of that right.

    

    
      	15.	
              WAIVER

            

    

    

    No
      waiver
      on the part of either party to this Agreement of any rights
      arising from a breach of any provision of this Agreement
      will constitute
      a
      waiver of rights in respect of any subsequent breach of the same or any other
      provision.

    

    
      	16.	
              SEVERABILITY

            

    

    

    In
      the
      event that any of the terms of this Agreement
      are found to be invalid, unlawful or unenforceable, such terms will be severable
      from the remaining terms, which will continue to be valid and
      enforceable.

    

    
      	17.	
              DRAFTING
                COSTS 

            

    

    

    Each
      of
      the Parties shall bear its own cost incurred as a result of the negotiation,
      drafting and finalisation of this Agreement, which shall include, but not be
      limited to, all legal fees.

    

    
      	18.	
              ASSIGNEMENT

            

    

     

    Neither
      Party may assign, transfer or charge any rights or obligations under this
      Agreement without the other Party’s prior written consent (such consent not to
      be unreasonably withheld or delayed).

    

    
      	19.	
              RIGHTS
                OF THIRD PARTIES

            

    

    

    No
      term
      of this Agreement is intended to benefit any person or entity not a party to
      it.

    

    
      	20.	
              GOVERNING
                LAW 

            

    

    

    The
      validity and interpretation of this Agreement
      will be governed by the laws of England and both Parties hereby submit to the
      exclusive jurisdiction of the English court.

    

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    

    I,
      Peter
      Greenhill, the undersigned, herewith confirm that my position within
"Betex"
      is that
      of Chief Operating Officer and state that I am duly authorized to enter into
      this
      Agreement,
      which I herewith do, on this the ______________

    by
      signing this
      Agreement,
      for and on behalf of "Betex".

    

    

    Witnesses:

    
      	
              1
                

            	 	 
	 	 	 
	
              2
                

            	 	
              Signature
                on behalf of Betex (Group) PLC

            
	 	 	 

    

    

    

    

    I,
      Ian
      Sherrington, the undersigned, herewith confirm that my position within the
      Mahjong Systems Limited is that of Director and state that I am duly authorized
      to enter into this
      Agreement,
      which I herewith do, 

    on
      this
      the ________________

    by
      signing this
      Agreement,
      for and on behalf of the "MSL".

    

    

    Witnesses:

    
      	
              1
                

            	 	 
	 	 	 
	
              2
                

            	 	
              Signature
                on behalf of Mahjong Systems
                Limited

            

    

    

    

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    Schedule
      1 

     

    

        
          	
                   

                  Revenue
                    Share, License Fees and Initial Float Amount

                
	
                   

                  Initial
                    Float Amount

                	
                   

                  US$
                    *

                
	
                   

                  First
                    Year License Fee

                	
                   

                  US$
                    *

                
	
                   

                  Subsequent
                    Annual License Fees

                	
                   

                  US$
                    *

                
	
                   

                  Revenue
                    Share 

                  (share
                    of House Rake paid to “Betex”)

                	
                   

                  *
                    for rake under US$ * in
                    a month

                  *
                    for all rake in excess of US$ * in
                    a month

                

        

      
 

      

          *
            The
            confidential portion has been so omitted and filed separately with the
            Commission.

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