Document:

These Warrants have not been registered under the Securities Act of 1933, as
amended (the "Act"), and may not be sold, transferred, assigned or otherwise
disposed of unless the person requesting the transfer of the Warrants shall
provide an opinion of counsel to Preferred Voice, Inc. (the "Company") (both
counsel and opinion to be satisfactory to the Company) to the effect that such
sale, transfer, assignment or disposition will not involve any violation of the
registration provisions of the Act or any similar or superseding statute.

No.___                                                            ______Warrants

                              PREFERRED VOICE, INC
                               WARRANT CERTIFICATE

      This warrant certificate ("Warrant Certificate") certifies that for value
received ______________ (the "Initial Warrant Holder") or registered assigns is
the owner of the number of warrants specified above, each of which entitles the
holder thereof to purchase, at any time on or before the Expiration Date
hereinafter provided, one fully paid and non-assessable share of Common Stock,
$0.00l par value per share, of Preferred Voice, Inc., a Delaware corporation
(the "Company"), at a purchase price of $.10 per share of Common Stock payable
in lawful money of the United States of America, in cash, by official bank or
certified check, or by wire transfer ("Warrants").

1.    Warrant; Purchase Price

      Each Warrant shall entitle the holder thereof to purchase one share of
Common Stock, $0.001 par value per share, of the Company ("Common Stock") during
the period commencing on the date hereof and ending on the Expiration Date. The
purchase price payable upon exercise of a Warrant shall be $.10 (the "Purchase
Price"). The Purchase Price and number of Warrants evidenced by this Warrant
Certificate are subject to adjustment as provided in Article 7. Common Stock
purchased or subject to purchase pursuant to the Warrants shall be called
"Warrant Shares" herein.

2.    Exercise; Expiration Date

      2.1 Each Warrant is exercisable, at the option of the holder, at any time
after issuance and on or before the Expiration Date. In the case of exercise of
less than all the Warrants represented by a Warrant Certificate, the Company
shall cancel the Warrant Certificate upon the surrender thereof and shall
execute and deliver a new Warrant Certificate for the balance of such Warrants.

      2.2 The term "Expiration Date" shall mean 5:00 p.m. Dallas time on______,
2011, or if such date shall in the State of Texas be a holiday or a day on which
banks are authorized to close, then 5:00 p.m. Dallas time the next following day
which in the State of Texas is not a holiday or a day on which banks are
authorized to close.

<PAGE>

      2.3 The Warrant Holder may utilize a cashless exercise in which he will be
issued a number of shares of common stock equal to N(FMV-EP)/FMV where N is the
number of Warrants being exercised, FMV is the fair market value of one share of
the Company's common stock on the date of exercise and EP is the Purchase Price.

3.    Registration and Transfer on Company Books

      3.1 The Company shall maintain books for the registration and transfer of
Warrant Certificates.

      3.2 Prior to due presentment for registration of transfer of this Warrant
Certificate, the Company may deem and treat the registered holder as the
absolute owner thereof.

      3.3 The Company shall register upon its books any transfer of a Warrant
Certificate upon surrender of same to the Company accompanied (if so required by
the Company) by a written instrument of transfer duly executed by the registered
holder or by a duly authorized attorney. Upon any such registration of transfer,
new Warrant Certificate(s) shall be issued to the transferee(s) and the
surrendered Warrant Certificate shall be cancelled by the Company. A Warrant
Certificate may also be exchanged, at the option of the holder, for new Warrant
Certificates representing in the aggregate the number of Warrants evidenced by
the Warrant Certificate surrendered.

4.    Securities Law Registration

      4.1 The Warrant Shares will not be registered under the Securities Act or
any state securities law and shall not be transferable unless registered or an
exemption from registration is available. A legend to the foregoing effect will
be placed on any certificate representing such shares.

      4.2 If, at any time within five (5) years of the date of this Warrant
Certificate, the Company proposes for any reason to register any of its
securities under the Securities Act other than a registration on Form S-8
relating solely to employee stock option or purchase plans, on Form S-4 relating
solely to an SEC Rule 145 transaction or on any other form which does not
include substantially the same information as would be required to be included
in a registration statement covering the sale of the Warrant Shares, it shall
each such time give written notice to the holder of these Warrants or the
Warrant Shares ("Holder" for purposes of this Section 4) of the Company's
intention to register such securities, and, upon the written request, given
within thirty (30) days after receipt of any such notice, of the Holders of the
Warrants and Warrant Shares outstanding, to register any of the Warrant Shares,
the Company shall cause the Warrant Shares so requested by the Holder to be
registered, whether such Warrant Shares are outstanding or subject to purchase
hereby, to be registered under the Securities Act, all to the extent requisite
to permit the sale or other disposition by the Holder of the Warrant Shares so
registered; provided, however, that the Warrant Shares as to which registration
had been requested need not be included in such registration if in the opinion
of counsel for the Company and counsel for the Holder the proposed transfer by
the Holder may be effected without registration under the Securities Act and any
certificate evidencing the Warrant Shares need not bear any restrictive legend.
In the event that any registration pursuant to this Section 4.2 shall be, in
whole or in part, an underwritten offering of securities of the Company, then
(i) any request pursuant to this Section 4.2 to register Warrant Shares may
specify that such shares are to be included in the underwriting on the same
terms and conditions as the shares of the Company's capital stock otherwise
being sold through underwriters under such registration, (ii) if the managing
underwriter of such offering determines that the number of shares to be offered
by all selling shareholders must be reduced, then the Company shall have the
right to reduce the number of shares registered on behalf of the Holder,
provided that the number of shares to be registered on behalf of the Holder
shall not be reduced to such an extent that the ratio of the shares which the
Holder is permitted to register to the total number of shares the Holder owns is
less than that ratio for any other selling shareholder, and (iii) the Holder
will be bound by the terms of the underwriting agreement and the conditions
imposed by the underwriter on selling shareholders.

<PAGE>

      4.3 If and whenever the Company is under an obligation pursuant to the
provisions of this Warrant Certificate to register any Warrant Shares, the
Company shall, as expeditiously as practicable:

            (a) prepare and file with the Securities and Exchange Commission
      (the "Commission") a registration statement with respect to such shares
      and use its best efforts to cause such registration statement to become
      and remain effective for at least nine (9) months;

            (b) prepare and file with the Commission such amendments and
      supplements to such registration statement and the prospectus used in
      connection therewith as may be necessary to keep such registration
      statement effective for at least nine months and to comply with the
      provisions of the Securities Act with respect to the sale or other
      disposition of all Warrant Shares covered by such registration statement;

            (c) furnish to the Holder a suitable number of copies of all
      preliminary and final prospectuses to enable the Holder to comply with the
      requirements of the Securities Act, and such other documents as the Holder
      may reasonably request in order to facilitate the public sale or other
      disposition of the Warrant Shares;

            (d) use its best efforts to register or qualify the Warrant Shares
      covered by such registration statement under such securities or blue sky
      laws of such jurisdictions as the Holder shall reasonably request and
      where registration or qualification will not involve unreasonable expense
      or delay and provided, however, that the Company will not have to register
      or qualify in any state in which solely because of such registration or
      qualification it would have to qualify to do business; and the Company
      shall do any and all other reasonable acts and things which may be
      necessary or advisable to enable the Holder to consummate the public sale
      or other disposition of the Warrant Shares in such jurisdictions;

            (e) notify the Holder, at any time when a prospectus relating to the
      Warrant Shares is required to be delivered under the Securities Act within
      the appropriate period mentioned in clause (b) of this Section 4.3, of the
      happening of any event as a result of which the prospectus included in
      such registration statement, as then in effect, includes an untrue
      statement of a material fact or omits to state a material fact required to
      be stated therein or necessary to make the statements therein not
      misleading in the light of the circumstances then existing, and at the
      request of the Holder prepare and furnish to the Holder a reasonable
      number of copies of a supplement to or an amendment of such prospectus as
      may be necessary so that, as thereafter delivered to the purchasers of the
      Warrant Shares, such prospectus shall not include an untrue statement of a
      material fact or omit to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading in the
      light of the circumstances then existing; and

<PAGE>

            (f) exercise its best efforts to furnish, at the request of the
      Holder on the date that the Warrant Shares are delivered to the
      underwriters for sale pursuant to such registration or, if the Warrant
      Shares are not being sold through underwriters, on the date that the
      registration statements with respect to such Warrant Shares are declared
      effective, (1) an opinion, dated such date, of the counsel representing
      the Company for the purposes of such registration, addressed to the
      Holder, stating that such registration statement has become effective
      under the Securities Act and that (i) to the best of the knowledge of such
      counsel, no stop order suspending the effectiveness thereof has been
      issued and no proceedings for that purpose have been instituted or are
      pending or contemplated under the Securities Act; (ii) the registration
      statement, the related prospectus, and each amendment or supplement
      thereto, comply as to form in all material respects with the requirements
      of the Securities Act and the applicable rules and regulations of the
      Commission thereunder (except that such counsel need express no opinion as
      to financial statements and other financial data contained therein); and
      (iii) such counsel has no reason to believe that either the registration
      statement or the prospectus, or any amendment or supplement thereto,
      contains any untrue statement of a material fact or omits to state a
      material fact required to be stated therein or necessary to make the
      statements therein not misleading; and (2) a letter dated such date, from
      the independent certified public accountants of the Company, stating that
      they are independent certified public accountants within the meaning of
      the Securities Act and the rules and regulations of the Commission
      thereunder and that in the opinion of such accountants, the financial
      statements and other financial data of the Company included in the
      registration statement or the prospectus, or any amendment or supplement
      thereof, comply as to form in all material respects with the applicable
      accounting requirements of the Securities Act and the rules and
      regulations of the Commission thereunder. Such letter from the independent
      certified public accountants shall additionally cover such other financial
      matters (including information as to periods ending not more than five
      business days prior to the date of such letter) as the Holder may
      reasonably request.

      If the Holder exercises its rights to have the Warrant Shares registered,
it is understood that the Holder shall furnish to the Company such information
regarding the securities held by it and the intended method of disposition
thereof as the Company shall reasonably request and as shall be required in
connection with the action to be taken by the Company.

<PAGE>

      4.4 All Registration Expenses incurred in connection with any registration
pursuant to this Warrant Certificate shall be borne by the Company. All Selling
Expenses in connection with any registration pursuant to this Warrant
Certificate shall be borne by the Holder.

      For purposes of Section 4.4, all expenses incurred by the Company in
complying with Section 4.3, including, without limitation, all registration and
filing fees, fees and expenses of complying with securities and blue sky laws,
printing expenses, and fees and disbursements of counsel and of independent
public accountants for the Company (including the expense of any special audits
in connection with any such registration), are herein called "Registration
Expenses", and all underwriting discounts and selling commissions applicable to
the Warrant Shares covered by any such registration and all fees and
disbursements of counsel for the Holder are herein called "Selling Expenses".

      4.5 In the event of any registration of any Warrant Shares under the
Securities Act pursuant to this Warrant Certificate, the Company shall indemnify
and hold harmless the Holder, each underwriter of such shares, if any, each
broker, and any other person, if any, who controls any of the foregoing persons
within the meaning of the Securities Act, against any losses, claims, damages or
liabilities, joint or several, to which any of the foregoing persons may become
subject under the Securities Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based
upon an untrue statement or alleged untrue statement of a material fact
contained in any registration statement under which the Warrant Shares were
registered under the Securities Act, any preliminary prospectus or final
prospectus contained therein, or any amendment or supplement thereto, or any
document incident to registration or qualification of any Warrant Shares
pursuant to paragraph 4.3(d) above, or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading or,
with respect to any prospectus, necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading, or any
violation by the Company of the Securities Act or state securities or blue sky
laws applicable to the Company and relating to action or inaction required of
the Company in connection with such registration or registration or
qualification under such state securities or blue sky laws; and shall reimburse
the Holder and such underwriter, broker or other person acting on behalf of the
Holder and each such controlling person for any legal or any other expenses
reasonably incurred by any of them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided, however, that the
Company shall not be liable in any such case to the extent that any such loss,
claim, damage, or liability arises out of or is based upon an untrue statement
or alleged untrue statement or omission or alleged omission made in reliance
upon and in conformity with written information furnished to the Company in an
instrument duly executed by the Holder or such underwriter specifically for use
in the preparation thereof. The indemnity agreement set forth in this Section
4.5, insofar as it relates to any such omission, alleged omission, untrue
statement or alleged untrue statement made in a preliminary prospectus but
eliminated or remedied in the final prospectus, shall not inure to the benefit
of any of the beneficiaries named in this Section 4.5 whose responsibility it
was to send, furnish or give a copy of the final prospectus to a person
asserting a claim for which indemnification is sought (the "Claimant") unless a
copy of the final prospectus was so sent, furnished or given to the Claimant at
or prior to the time such action is required by the Act.

<PAGE>

      Before Warrant Shares held or purchasable by the Holder shall be included
in any registration pursuant to this Warrant Certificate, the Holder and any
underwriter acting on its behalf shall have agreed to indemnify and hold
harmless (in the same manner and to the same extent as set forth in the
preceding paragraph) the Company, each director of the Company, each officer of
the Company who shall sign such registration statement and any person who
controls the Company within the meaning of the Securities Act, with respect to
any failure of the Holder or such underwriter to comply with all laws, rules and
regulations in connection with the offer and sale of Warrant Shares, or any
statement or omission from such registration statement, any preliminary
prospectus or final prospectus contained therein, or any amendment or supplement
thereto, if such statement or omission was made in reliance upon and in
conformity with written information furnished to the Company in an instrument
duly executed by the Holder or such underwriter specifically for use in the
preparation of such registration statement, preliminary prospectus, final
prospectus or amendment or supplement.

      Promptly after receipt by an indemnified party of notice of the
commencement of any action involving a claim referred to in the preceding
paragraphs of this Section 4.5, such indemnified party will, if a claim in
respect thereof is to be made against an indemnifying party, give written notice
to the indemnifying party of the commencement of such action. In case any such
action is brought against an indemnified party, the indemnifying party will be
entitled to participate in and to assume the defense thereof, jointly with any
other indemnifying party similarly notified to the extent that it may wish, with
counsel reasonably satisfactory to such indemnified party, and after notice from
the indemnifying party to such indemnified party of its election so to assume
the defense thereof, the indemnifying party will not be liable to such
indemnified party for any legal or other expenses subsequently incurred by the
latter in connection with the defense thereof.

5.    Reservation of Warrant Shares

      The Company covenants that it will at all times reserve and keep available
out of its authorized Common Stock, solely for the purpose of issue upon
exercise of the Warrants, such number of shares of Common Stock as shall then be
issuable upon the exercise of all outstanding Warrants. The Company covenants
that all shares of Common Stock which shall be issuable upon exercise of the
Warrants shall be duly and validly issued and fully paid and non-assessable and
free from all taxes, liens and charges with respect to the issue thereof.

6.    Loss or Mutilation

      Upon receipt by the Company of reasonable evidence of the ownership of and
the loss, theft, destruction or mutilation of any Warrant Certificate and, in
the case of loss, theft or destruction, of indemnity reasonably satisfactory to
the Company, or, in the case of mutilation, upon surrender and cancellation of
the mutilated Warrant Certificate, the Company shall execute and deliver in lieu
thereof a new Warrant Certificate representing an equal number of Warrants.

<PAGE>

7.    Adjustment of Purchase Price and Number of Warrant Shares Deliverable

      7.1 The Purchase Price and the number of shares of Common Stock
purchasable pursuant to this Warrant shall be subject to adjustment from time to
time as hereinafter set forth in this Article 7. Whenever reference is made in
this Article 7 to the issue or sale of shares of Common Stock, or simply shares,
such term shall mean any stock of any class of the Company other than preferred
stock with a fixed limit on dividends and a fixed amount payable in the event of
any voluntary or involuntary liquidation, dissolution or winding up of the
Company. The shares issuable upon exercise of the Warrants shall however be
shares of Common Stock of the Company, par value $0.00l per share, as
constituted at the date hereof, except as otherwise provided in Sections 7.3 and
7.4.

      7.2 In case the Company shall at any time change as a whole, by
subdivision or combination in any manner or by the making of a stock dividend,
the number of outstanding shares into a different number of shares, with or
without par value, (i) the number of shares which immediately prior to such
change the holder of each Warrant shall have been entitled to purchase pursuant
to this Warrant shall be increased or decreased in direct proportion to the
increase or decrease, respectively, in the number of shares outstanding
immediately prior to such change, and (ii) the Purchase Price in effect
immediately prior to such change shall be increased or decreased in inverse
proportion to such increase or decrease in the number of such shares outstanding
immediately prior to such change. For the purpose of this Section 7.2, the
number of shares outstanding at any given time shall not include shares in the
treasury of the Company.

      7.3 In case of any capital reorganization or any reclassification of the
capital stock of the Company or in case of the consolidation or merger of the
Company with another corporation, or in case of any sale, transfer or other
disposition to another corporation of all or substantially all the property,
assets, business and good will of the Company, the holder of each Warrant shall
thereafter be entitled to purchase (and it shall be a condition to the
consummation of any such reorganization, reclassification, consolidation,
merger, sale, transfer or other disposition that appropriate provision shall be
made so that such holder shall thereafter be entitled to purchase) the kind and
amount of shares of stock and other securities and property receivable in such
transaction which a shareholder receives who holds the number of shares which
the Warrant entitled the holder to purchase immediately prior to such capital
reorganization, reclassification of capital stock, consolidation, merger, sale,
transfer or other disposition; and in any such case appropriate adjustments
shall be made in the application of the provisions of this Article 7 with
respect to rights and interests thereafter of the holder of the Warrants to the
end that the provisions of this Article 7 shall thereafter be applicable, as
nearly as reasonably may be, in relation to any shares or other property
thereafter purchasable upon the exercise of the Warrants.

      7.4 In the event the Company shall declare a dividend upon the Common
Stock payable otherwise than out of earnings or earned surplus or otherwise than
in shares of Common Stock or in stock or obligations directly or indirectly
convertible into or exchangeable for such shares, the holder of each Warrant
shall, upon exercise of the Warrant, be entitled to purchase, in addition to the
number of shares deliverable upon such exercise, against payment of the Warrant
Price therefor but without further consideration, the cash, stock or other
securities or property which the holder of the Warrant would have received as
dividends (otherwise than out of such earnings or earned surplus and otherwise
than in shares or in obligations convertible into or exchangeable for Common
Stock) if continuously since the date hereof such holder (i) had been the holder
of record of the number of shares deliverable upon such exercise and (ii) had
retained all dividends in stock or other securities (other than shares or such
convertible or exchangeable stock or obligations) paid or payable in respect of
said number of shares or in respect of any such stock or other securities so
paid or payable as such dividends.

<PAGE>

      7.5 No certificate for fractional shares shall be issued upon the exercise
of the Warrants, but in lieu thereof the Company shall purchase any such
fractional interest calculated to the nearest cent.

      7.6 Whenever the Purchase Price is adjusted as herein provided, the
Company shall forthwith deliver to each Warrant holder a statement signed by the
President of the Company and by its Treasurer or Secretary stating the adjusted
Purchase Price and number of shares determined as herein specified. Such
statement shall show in detail the facts requiring such adjustment, including a
statement of the consideration received by the Company for any additional stock
issued.

      7.7 In the event at any time:

            (i) The Company shall pay any dividend payable in stock upon its
            Common Stock or make any distribution (other than cash dividends) to
            the holders of its Common Stock; or

            (ii) The Company shall offer for subscription pro rata to the
            holders of its Common Stock any additional shares of stock of any
            class or any other rights; or

            (iii) The Company shall effect any capital reorganization or any
            reclassification of or change in the outstanding capital stock of
            the Company (other than a change in par value, or a change from par
            value to no par value, or a change from no par value to par value,
            or a change resulting solely from a subdivision or combination of
            outstanding shares), or any consolidation or merger, or any sale,
            transfer or other disposition of all or substantially all its
            property, assets, business and good will as an entirety, or the
            liquidation, dissolution or winding up of the Company; or

            (iv) The Company shall declare a dividend upon its Common Stock
            payable otherwise than out of earnings or earned surplus or
            otherwise than in Common Stock or any stock or obligations directly
            or indirectly convertible into or exchangeable for Common Stock;

<PAGE>

then, in any such case, the Company shall cause at least thirty days' prior
notice to be mailed to the registered holder of each Warrant at the address of
such holder shown on the books of the Company. Such notice shall also specify
the date on which the books of the Company shall close, or a record be taken,
for such stock dividend, distribution or subscription rights, or the date on
which such reclassification, reorganization, consolidation, merger, sale,
transfer, disposition, liquidation, dissolution, winding up or dividend, as the
case may be, shall take place, and the date of participation therein by the
holders of shares if any such date is to be fixed, and shall also set forth such
facts with respect thereto as shall be reasonably necessary to indicate the
effect of such action on the rights of the holders of the Warrants.

      7.8 All other provisions hereof notwithstanding, if at any time
immediately following the date hereof until the Expiration Date, the Company
issues (enters into a binding contract to issue) any shares (the "Additional
Shares") of the Company's Common Stock or Common Stock equivalents including
indebtedness convertible into Common Stock or preferred stock convertible into
Common Stock or warrants exercisable for Common Stock (the "Common Stock
Equivalents"), to any third party (a "Third Party") for a price per share (the
"Third Party Price Per Share"), which in the case of Common Stock Equivalents
shall be the applicable conversion ratio or exercise price, that is less than
the Purchase Price per share designated in Section 1 herein (as adjusted for
stock splits, stock dividends, recapitalizations and other adjustments to the
Company's Common Stock as a whole) then, promptly after issuance of the
Additional Shares or Common Stock Equivalents, the Company shall issue to the
Subscriber (without payment of additional consideration by the Subscriber) that
number of additional shares of the Company's Common Stock equal to the
difference between (a) the total consideration paid by the Subscriber pursuant
hereto divided by the Third Party Price Per Share and (b) the number of shares
issued to the Subscriber pursuant hereto if the Subscriber has already exercised
the Warrant into Common Stock or shall adjust the Purchase Price per share
designated in Section 1 to equal the Third Party Price Per Share. This provision
shall not apply to issuances pursuant to currently outstanding options, rights
and/or warrants. The delivery to the Subscriber of the additional shares of
Common Stock shall be not later than the closing date of the transaction giving
rise to the requirement to issue additional shares of Common Stock.

8.    Governing Law

      8.1 This Warrant Certificate shall be governed by and construed in
accordance with the laws of the State of New York.

<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be
duly executed by its officers thereunto duly authorized and its corporate seal
to be affixed hereon as of the _____ day of ________, 2006.

                                                    PREFERRED VOICE, INC.

                                                    BY:_________________________
                                                       Chief Executive OfficerUnassociated Document

    Exhibit
      10.1

    GAME
      MANUFACTURER CASHLESS LICENSE AGREEMENT

     

    THIS
      GAME MANUFACTURER CASHLESS LICENSE AGREEMENT
      (hereinafter “Agreement”)
      is
      entered into this 1st day of October, 2006 (hereinafter “Effective
      Date”)
      by and
      between IGT, a Nevada corporation, with principal offices at 9295 Prototype
      Drive, Reno, Nevada 89521, and WMS Gaming, Inc., a Delaware corporation, with
      principal offices at 800 South Northpoint Blvd., Waukegan, Illinois
      60085.

     

    WHEREAS
      Licensor
      (defined below) has authority to license certain intellectual property rights,
      such rights being offered as an Intellectual Property Package (“IPP”)(defined
      below);

     

    WHEREAS
      Licensee
      (defined below) is desirous of obtaining a license to use the intellectual
      property rights contained in the IPP; and

     

    WHEREAS
      Licensor
      is desirous of granting Licensee a license to such IPP for use in connection
      with, among other things, a Cashless Gaming System. 

     

    NOW
      THEREFORE,
      in
      consideration of the foregoing, the covenants hereafter set forth, for other
      good and valuable consideration, the receipt and adequacy of which are hereby
      acknowledged, the parties agree as follows:

     

    
      	
              1.

            	
              DEFINITIONS

            

    

     

    (1.1) “Affiliate”
means,
      as to a particular party, any corporation or other business entity that directly
      or indirectly Controls, is Controlled by, or is under common Control with a
      party. “Control” means direct or indirect ownership of or other beneficial
      interest in fifty percent (50%) or more of the voting stock, other vesting
      interest, or income of a corporation or other business entity. 

     

    (1.2) “Cashless
      Gaming System”
means
      a
      system employing tickets, coupons, tokens, cards or other instruments of
      identification to add credits or funds to, or remove credits or funds from,
      a
      Gaming Machine in order to eliminate or reduce the use of government issued
      bills and/or coins.

     

    (1.3) “Gaming
      Machine”
means
      gaming machines, gaming devices, slot machines, video lottery terminals, and
      the
      like as set forth in NRS 463.0155, .0191, and all other relevant provisions
      of
      the Nevada Gaming Control Act (NRS Chapter 463), and comparable provisions
      of
      other jurisdictions where such machines, devices and terminals are legal,
      including but not limited to Class II, Class III and casino style machines,
      devices and terminals. 

     

    (1.4) “Intellectual
      Property Package”
or
      “IPP”
means
      the patents set forth in Schedule A attached hereto, as well as any
      continuations, continuations-in-part, divisionals, reissues, reexaminations,
      and
      foreign counterparts thereof.

     

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

     

    (1.5) “IPP
      Parties”
means
      owners of, or holders of the right to license, the patents comprising the IPP.
      As of the Effective Date, the IPP Parties include IGT, International Game
      Technology, Bally Technologies, Inc. and MGM Mirage. 

     

    (1.6) “License
      Tag”
means
      a
      physical tag for which a License Fee is paid or payable, that will be provided
      by Licensor for display on Royalty Bearing Products.

     

    (1.7) “Licensed
      Cashless Gaming System”
means
      a
      Cashless Gaming System that has been licensed under the IPP.

     

    (1.8) “Licensor”
means
      IGT. 

     

    (1.9) “Licensee”
means
      WMS Gaming Inc. and any and all Affiliates of WMS Gaming Inc.

     

    (1.10) “Royalty
      Bearing Product”
means
      a
      Gaming Machine that either alone, or in connection with a Cashless Gaming
      System, would, absent a license under this Agreement, infringe one or more
      subsisting claims of any patent within the IPP and for which a License Fee
      (as
      defined below) is paid or payable to Licensor. [*]

    
 

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    [*]

     

    (1.11) “Place,”
      “Placed,” “Placement” (or any form of the word “Place”) means the provision of a
      Gaming Machine by Licensee to a customer, whether by sale, lease, or otherwise.
      

     

    (1.12) For
      purposes of this agreement, references to the “United States” and “Canada” shall
      include their respective possessions, protectorates and
      territories.

     

    
      	
              2.

            	
              GRANT

            

    

     

    (2.1) Licensor
      grants to Licensee a non-exclusive, non-transferable license, without the right
      to sublicense, under the IPP to make, have made, use, offer to Place, Place,
      have Placed, import, export, and otherwise dispose of Royalty Bearing Products
      or components of Royalty Bearing Products. For each Placed Royalty Bearing
      Product, Licensee agrees that it will incorporate those conditions set forth
      in
      Schedule B either verbatim or verbatim with formatting changes (unless otherwise
      agreed upon in writing by the Parties) in at least one of (i) a blanket
      acknowledgement signed by its customer and is enforceable for as long as it
      is
      relied upon to satisfy this condition, and (ii) the Placement agreement
      associated with such Royalty Bearing Product; provided, however, that if
      Licensee previously obtained from that customer a signed blanket acknowledgement
      or signed agreement incorporating such blanket acknowledgement (which blanket
      agreements must be enforceable for as long as it is relied upon to satisfy
      this
      condition) pursuant to the Cashless License Agreement of September 18, 2000,
      then Licensee shall, to the extent commercially reasonable (e.g., upon entering
      new or renewed master agreements with a customer), obtain an updated
      acknowledgement consistent with Schedule B of this Agreement. All rights not
      expressly granted by Licensor are hereby reserved. 

     

    (2.2) Unlicensed
      Gaming Machines.
      It is
      understood and agreed between the parties that with regard to any Gaming Machine
      for which a License Fee (defined below) is not paid by Licensee, that such
      Gaming Machine is not licensed under the IPP and that this Agreement and license
      granted herein does not extend to any such Gaming Machine. If Licensee fails
      to
      pay a License Fee for a Gaming Machine where a License Fee is otherwise required
      (and does not cure such failure pursuant to Section 4.2) on the grounds that
      a
      Gaming Machine is not a Royalty Bearing Product (hereafter a “Disputed Product
      Issue” - and each such Gaming Machine that is subject to the dispute that is
      placed from the Effective Date through the date that the Disputed Product Issue
      is decided in arbitration or subsequent legal proceeding as provided below,
      being a “Disputed Product”), then Licensor shall have the right to submit the
Disputed
      Product Issue to Dispute Resolution in accordance with Section 11.
      [*]

     

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    If
      Licensor submits the Disputed Product Issue to arbitration, then Licensee can
      elect to put the License Fees for all Disputed Products into an escrow account
      within thirty (30) days of written notice from Licensor of the Disputed Product
      Issue and continue to fund such escrow account monthly within 10 days of the
      end
      of each month for all Disputed Products during the pendency of the arbitration.
      If the Disputed Product Issue goes to arbitration and the arbitration panel
      determines by a preponderance of the evidence that the Disputed Product is
      a
      Royalty Bearing Product, Licensee shall pay [*] the normal License Fee(s) for
      the Disputed Products (which amount is equal to [*] the escrow amount provided
      that the escrow is fully funded) within forty-five (45) days of receipt of
      the
      panel’s decision. If Licensee did not elect to put money into an escrow account
      or does not, in fact, put such monies into said escrow account within the thirty
      (30) days specified, including the monthly fundings, then Licensor shall have
      the additional right to terminate this Agreement by providing written notice
      to
      Licensee within forty-five (45) days of the panel’s decision. If Licensee did
      elect to escrow the License Fee(s) for the Disputed Products, and did, in fact,
      fund such escrow pursuant to this paragraph, then no such termination right
      in
      favor of Licensor shall exist. If the arbitration panel determines by a
      preponderance of the evidence that the Disputed Product is not a Royalty Bearing
      Product, Licensor shall nonetheless have the right to bring a legal proceeding
      regarding the Disputed Product Issue within ninety (90) days of the panel’s
      decision. If there is a finding in such legal proceeding that the Disputed
      Product is a Royalty Bearing Product (contrary to the determination of the
      arbitration panel), Licensee shall pay [*] the normal License Fee(s) for the
      Disputed Products (which amount is equal to [*]
      the
      escrow amount provided that the escrow is fully funded) within forty-five
      (45)
      days of such finding. If Licensee did not elect to put money into the escrow
      account or did not actually fund such escrow pursuant to this paragraph and
      continue with the monthly fundings within 10 days of the end of each month,
      then
      Licensor shall have the additional right to terminate this Agreement by
      providing written notice to Licensee within forty-five (45) days of the panel’s
      decision. If Licensee did elect to escrow the License Fee(s) for the Disputed
      Products and did actually fund such escrow pursuant to this paragraph, then
      no
      such termination right in favor of Licensor shall exist. Licensee agrees that
      the payment of [*] fees is reasonable and necessary as consideration for the
      right to enter into such dispute resolution procedures because Licensor is
      conceding and foregoing its normal right to terminate as opposed to arbitrate
      such instances. The parties further acknowledge and agree that the arbitration
      panel only has the authority to determine whether the Disputed Product is a
      Royalty Bearing Product. In addition, such arbitration panel’s decision shall be
      precedential as between the parties hereto for all future like Gaming Machines
      Placed as were analyzed under that particular Disputed Product Issue, unless
      a
      legal proceeding was brought by Licensor, in which case, such legal proceeding
      shall control. Any License Fee(s) for Disputed Products in the escrow account
      shall be returned to Licensee if it is determined by the arbitration panel
      that
      the Disputed Product is not a Royalty Bearing Product, unless a legal proceeding
      is timely brought by Licensor, in which case such legal proceeding shall control
      whether the License Fee(s) for Disputed Products in the escrow account are
      returned to Licensee. For the avoidance of doubt, Disputed Products are subject
      to the [*] License Fees until the arbitration or legal proceeding is resolved.
      However, after the arbitration or legal proceeding is resolved, Gaming Machines
      containing the same issue that was resolved, which are Placed after the
      resolution of the arbitration or legal proceeding, shall be subject to the
      [*]
      License Fees. In the event Licensee is involved in any infringement action
      or
      claim (e.g., arbitration) not arising under or related to the IPP or this
      Agreement, Licensee shall not seek to introduce this Agreement or any drafts
      thereof into evidence nor disclose the terms of this Agreement or tender copies
      of this Agreement or any drafts to a third party, except to Licensee’s legal
      counsel or advisors or as may be required by law, rule, regulation or in
      connection with any court order, subpoena or valid process of law. In the event
      that an arbitrator or judge makes a finding that a Gaming Machine is a Royalty
      Bearing Product, the minimum damages for such finding are agreed to be pursuant
      to Section 3.2 for each Gaming Machine. 
      

    

    

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    (2.3) License
      Limitations.
      Licensee acknowledges and agrees that use of an unlicensed Gaming Machine with
      a
      licensed Cashless Gaming System or use of a Royalty Bearing Product with an
      unlicensed Cashless Gaming System are both unlicensed uses and that no rights
      or
      license contained in this Agreement permits or licenses such use by them or
      any
      other person. Notwithstanding the foregoing, Licensee shall owe no additional
      License Fee (as defined in Section 3.2) resulting from a particular Placement
      of
      a Royalty Bearing Product
      once such License Fee has been paid pursuant to this Agreement.

     

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

    
      
        

        

        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    (2.4) Responsibility
      for Affiliates.
      WMS
      Gaming Inc. shall be responsible and liable for all acts of its Affiliates
      with
      respect to this Agreement.

     

    (2.5) Release
      and Settlement for Previously Placed Machines. 
      [*] Licensor hereby releases for itself, the IPP Parties, their Affiliates,
      subsidiaries, predecessors, successors and assigns, and their respective
      officers, owners, directors, shareholders, attorneys, insurers, agents and
      employees (collectively the "Releasing Parties"), Licensee and any and all
      of
      its existing (as of the Effective Date) Affiliates, subsidiaries, predecessors,
      and their respective parents, officers, directors, agents, owners, employees,
      attorneys, licensors and insurers (collectively the "Released Parties"), from
      any and all rights, claims, demands, causes of action, obligations, damages,
      penalties, fees, costs (including reasonable attorneys' fees and costs),
      expenses, and liabilities of any nature whatsoever which the Releasing Parties
      have, had or may have had against the Released Parties, only in connection
      with
      any payments or failure to make payments under the Cashless License Agreement
      of
      September 18, 2000 (the “9/2000 Agreement”) and any infringement of the IPP by
      Gaming Machines Placed prior to the Effective Date. For the avoidance of doubt,
      this release does not cover any other rights, claims, demands, causes of action,
      obligations, damages, penalties, fees, costs (including reasonable attorneys’
fees and costs), expenses and liabilities which the Releasing Parties have,
      had
      or may have had against the Released Parties for any other matter, and by way
      of
      example, does not release the Released Parties from its obligations to
      incorporate the customer language in Schedule B under the 9/2000 Agreement
      for
      all Gaming Machines Placed prior to the Effective Date. 

     

    
      	
              3.

            	
              LICENSE
                FEES

            

    

     

    (3.1) [*]

     

    (3.2) Computation
      of License Fee.
      Licensee agrees to pay license fees (“License Fee(s)”) to Licensor pursuant to
      the schedule below for each Placed Royalty Bearing Product. Each
      License Fee and Used Sale Price in the schedule shall be increased by [*]
      relative to the schedule’s initial License Fee and initial Used Sale Price after
      [*] years from the Effective Date; by [*] relative to the schedule’s initial
      License Fee and initial Used Sale Price after [*] from the Effective Date;
      by
      [*] relative to the schedule’s initial License Fee and initial Used Sale Price
      after [*] from the Effective Date; and so on until this Agreement expires or
      terminates. Once a License Fee has been paid for a Royalty Bearing Product
      that
      has been placed with a customer by lease or participation, no additional License
      Fee shall be owed upon sale of such Royalty Bearing Product to the same
      customer; provided that any applicable Transfer Fee pursuant to Section 3.3
      shall still apply. 

     

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    [*]

     

    (3.3) Transfer
      Fee for Participation Games.
      The
      licenses granted hereunder for Royalty Bearing Products are granted only for
      Royalty Bearing Products by single serial number at a single casino location.
      Notwithstanding this, Licensee shall be permitted to move (from one casino
      to
      another) such Royalty Bearing Products that are continuously owned by Licensee
      and rented or leased by Licensee for use at third party properties as
      recurring-revenue products, provided that Licensee shall remit to Licensor,
      in
      addition to the initial License Fee, a Transfer Fee of [*] per such Royalty
      Bearing Product [*]. A recurring-revenue Royalty Bearing Product is one which
      Licensee places in casinos or other lawful gaming establishments on a
      recurring-revenue model (e.g. lease or participation) and to which Licensee
      retains, at all times, title and ownership. 

     

    (3.4) License
      Tag.
      Licensor shall provide to Licensee a License Tag to be affixed to each Royalty
      Bearing Product. Licensee shall promptly affix the License Tag in close
      proximity to the serial number tag on the specified Royalty Bearing Product.
      Licensee agrees not to affix a License Tag to any Gaming Machine for which
      a
      License Fee has not been accrued or paid and agrees to affix the supplied
      License Tag only to the specified Royalty Bearing Product.

     

     

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    (3.5) Payment
      and Reporting Schedule.
      Licensee will pay all License Fees owed to Licensor within forty-five (45)
      calendar days following the end of the calendar quarter in which the Royalty
      Bearing Product was Placed with a third party. All License Fees in this
      Agreement will be paid by Licensee to Licensor in United States dollars. Any
      amount due Licensor hereunder that is not paid will thereafter bear interest
      until paid at a rate per annum equal to twelve percent (12%). Within forty-five
      (45) calendar days following the end of each calendar quarter, and at the same
      time Licensee makes payment of the License Fees hereunder, Licensee shall
      furnish to Licensor a full and complete statement, duly certified by an officer
      of Licensee to be true and accurate, showing: (a) the number of Royalty Bearing
      Products that Licensee Placed with third parties during the calendar quarter
      in
      question; (b) the serial number of each such Royalty Bearing Product; (c) the
      customer that purchased, leased or received each Royalty Bearing Product; (d)
      the property at which the Royalty Bearing Product is licensed; (e) the date
      of
      Placement or shipment of each Royalty Bearing Product, and (f) the amount of
      License Fees due, including Transfer Fees.
      Licensor
      shall not terminate this Agreement for Licensee’s non-compliance with the
      foregoing sentence if Licensee uses best efforts to comply with such sentence.
      Licensee deems such reported information to be proprietary, and Licensor shall
      only use such information for the purpose of enforcing its rights under this
      Agreement and for no other purpose. 

     

    (3.6) Taxes.
      License
      Fees, and any other charges described in this Agreement, do not include federal,
      state or local sales, use, property, excise, service, or similar taxes (“Taxes”)
      now or hereafter levied, all of which shall be for Licensee’s account and shall
      be paid by Licensee. If Licensor is required to pay Taxes as a result of this
      license grant, Licensor shall invoice Licensee for such Taxes. Licensee hereby
      agrees to indemnify and hold harmless Licensor for any Taxes and related costs,
      interest and penalties paid or payable by Licensor. Licensee shall not be
      required to indemnify or otherwise pay for any of Licensor’s income taxes from
      Licensee’s payment of License Fees. 

     

    (3.7) Trials.
      The
      parties acknowledge that it is customary in the gaming industry for Gaming
      Machines to be Placed on a trial basis, meaning that the customer has, for
      a
      limited time period, the right to return the machines and unwind the transaction
      (“Trial Period”). For any Royalty Bearing Product Placed on such trial basis and
      for which Licensee has not received any remuneration for such Placement, the
      License Fee thereon shall be deemed to accrue upon Placement of such Royalty
      Bearing Product; however, in the event that such Royalty Bearing Product is
      returned by the customer to Licensee within the Trial Period, not to exceed
      ninety (90) days, Licensee shall be entitled to a refund of the License Fee
      from
      Licensor. 

     

    
      	
              4.

            	
              TERM
                AND TERMINATION

            

    

     

    (4.1) Term.
      Unless
      terminated sooner in accordance with this Section, Section 7 or Section 8
      below, the term of this Agreement will commence on the Effective Date and will
      continue in full force and effect until all patents in the IPP have expired.
      

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    (4.2) Termination.
      If
      either party breaches any of its obligations under this Agreement, and fails
      to
      cure such breach within sixty (60) days after receiving written notice from
      non-breaching party specifying such breach, the non-breaching party may
      terminate this Agreement; provided, however, that if after using commercially
      reasonable efforts such breach could not be cured by the breaching party within
      such sixty (60) day period, the cure period for such breach shall be extended
      for an additional ninety (90) days (provided such breach is capable of cure
      and
      the breaching party continues to diligently pursue such cure using its best
      efforts), unless otherwise agreed in writing. Further, if Licensee challenges
      the validity or enforceability of the patents within the IPP in any legal or
      administrative proceeding, or aids or assists in the prosecution of any such
      challenge, Licensor may, at its option, immediately terminate this Agreement
      by
      providing written notice of said termination to Licensee. Notwithstanding the
      termination of this Agreement for any reason, each Royalty Bearing Product
      for
      which a License Fee has been paid shall be licensed in perpetuity subject to
      the
      terms and conditions under which each was licensed. 

     

    (4.3) Customer
      Rights Upon Termination.
      The
      termination of this Agreement for any reason shall not impair the right of
      any
      customer with which Royalty Bearing Products have been Placed prior to such
      termination, provided Licensee has paid the License Fee and Transfer Fees,
      as
      applicable, to Licensor for such Royalty Bearing Products.

     

    (4.4) No
      Refund.
      In the
      event of termination of this Agreement for any reason, Licensor shall have
      no
      obligation to refund any amounts paid to it under this Agreement.

     

    (4.5) Unpaid
      Royalty.
      In
      addition to any other rights or remedies that Licensor may have, Licensor may,
      at its option upon termination or expiration of this Agreement, compel Licensee
      to pay any unpaid License Fee for any Royalty Bearing Product Placed by Licensee
      during the term of the Agreement.

     

    
      	
              5.

            	
              PROPRIETARY
                RIGHTS

            

    

     

    Licensee
      acknowledges that ownership of and title in and to the patents listed in
      Schedule A are and shall remain with the IPP Parties.

     

    
      	
              6.

            	
              WARRANTIES

            

    

     

    (6.1) General
      Warranty.
      Each
      party represents and warrants that it has the right, power and authority to
      enter into this Agreement and that the persons executing this Agreement have
      the
      authority to act for and to bind each respective party.

     

    (6.2) Further
      Warranty.
      Licensor represents and warrants that the IPP Parties own or control the patents
      listed in Schedule A and have authorized Licensor to grant the license described
      herein.

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    
      	
              7.

            	
              REGULATORY
                LICENSES AND APPROVALS

            

    

     

    Performance
      of this Agreement is contingent on any necessary initial and continuing licenses
      and approvals from any regulatory authorities having jurisdiction over the
      parties or the subject matter of this Agreement.

     

    Each
      party shall promptly apply to the appropriate regulatory authorities for any
      licenses and approvals, if any, necessary for that party to perform under this
      Agreement. Each shall diligently pursue its applications and pay all associated
      costs and fees for its application, and shall otherwise cooperate with any
      requests, inquiries, or investigations of any regulatory authorities or law
      enforcement agencies in connection with each party, their affiliates, or this
      Agreement. If any license or approval necessary for either party to perform
      under this Agreement is denied, suspended, or revoked, this Agreement may be
      terminated by the other party for cause pursuant to Section 4
      hereof;
      provided, however, that if the denial, suspension, or revocation affects
      performance of the Agreement in part only, the parties may by mutual agreement
      continue to perform under this Agreement to the extent it is unaffected by
      the
      denial, suspension, or revocation.

     

    
      	
              8.

            	
              COMPLIANCE
                PROGRAM

            

    

     

    The
      Licensor and Licensee conduct business in a highly regulated industry under
      privileged licenses issued by gaming regulatory authorities both domestic and
      international. The Licensor and Licensee maintain compliance programs that
      have
      been established to protect and preserve the name, reputation, integrity, and
      good will of the Licensor and Licensee and to monitor compliance with the
      requirements established by gaming regulatory authorities in various
      jurisdictions around the world. Performance of this Agreement is contingent
      upon
      the following:

     

    

    
      	
              a)

            	
              Any
                necessary initial and continuing approvals and/or licenses required
                by any
                regulatory agency with jurisdiction over the Licensor, Licensee,
                or the
                subject matter of this Agreement. Both the Licensor and the Licensee
                agree
                to cooperate with requests, inquiries, or investigations of any gaming
                regulatory authorities or law enforcement agencies in connection
                with the
                performance of this Agreement, including the disclosure of information
                to
                gaming regulatory agencies that would otherwise be considered confidential
                under other sections of this Agreement. If any approval and/or license
                necessary for performance of this Agreement is denied, suspended,
                or
                revoked, this Agreement shall terminate immediately and neither party
                shall have any additional rights hereunder; provided, however, that
                if the
                denial, suspension, or revocation affects performance of this Agreement
                in
                part only, the parties may by mutual agreement continue to perform
                under
                this agreement to the extent it is not affected by the denial, suspension,
                or revocation;

            

    

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    
      	
              b)

            	
              The
                continued suitability of the Licensor and Licensee in jurisdictions
                throughout the term of this Agreement. The Licensor and
                Licensee agree
                to fully cooperate and provide each other with any information reasonably
                necessary in order to determine the continued suitability of the
                other
                party throughout the term of this Agreement. 

            
	 	 
	
              c)

            	
              The
                continued approval by the Vice President of Compliance of the Licensor,
                the Licensor’s Compliance Committee, the Director of Compliance of the
                Licensee, or the Licensee’s Compliance Committee. Either
                party may terminate this agreement in the event that either party
                discovers facts with respect to the other party or this Agreement
                that
                would, in the reasonable opinion of that party, jeopardize the gaming
                licenses, permits or status of that party or any of its affiliates,
                with
                any gaming regulatory agency or similar regulatory or law enforcement
                authority (“Regulatory Development”). If reasonable and appropriate, the
                parties may provide notice of, and attempt to resolve, any problems
                and
                concerns relating to such Regulatory Development providing a reasonable
                timeframe to comment on and take action to cure the basis for said
                Regulatory Development. If such Regulatory Development is not cured
                to
                either party’s satisfaction, such that a reasonable risk remains that
                jeopardizes the status of either party with any gaming regulatory
                authority, either party may terminate this Agreement
                immediately.

            
	
               

            	 
	
              d)

            	
              The
                Agreement cannot be transferred or assigned by the Licensee, except
                to an
                Affiliate, without
                prior notice to the Licensor and the successful completion of a background
                due diligence investigation of the transferee/assignee prior to the
                transfer or assignment of the Agreement by the Licensee. Prior notice
                must
                also be provided to the Licensor of any proposed material change
                in
                ownership of the Licensee and the successful completion of a background
                due diligence investigation of the proposed new owner must occur
                prior to
                the change in ownership. 

            

    

     

    
      	
              9.

            	
              DISCLAIMER

            

    

     

    LICENSOR
      EXPRESSLY DISCLAIMS ALL, AND LICENSEE ACKNOWLEDGES AND AGREES THAT THERE ARE
      NO
      WARRANTIES, GUARANTEES, CONDITIONS, COVENANTS OR REPRESENTATIONS BY LICENSOR
      OR
      THE IPP PARTIES AS TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
      NON-INFRINGEMENT OR OTHER ATTRIBUTES, WHETHER EXPRESS OR IMPLIED (IN LAW OR
      IN
      FACT), ORAL OR WRITTEN.

     

    
      	
              10.

            	
              RETENTION
                OF RECORDS AND AUDIT

            

    

     

    (10.1) Records.
      Licensee shall keep at Licensee’s principal office for the term of [*] from the
      date created, full and accurate books of account and copies of all documents
      and
      other materials
      relating to this Agreement, including, but not limited to all Placement
      agreements of Royalty Bearing Products. Notwithstanding the foregoing, any
      documents and other materials that are the subject of an audit pursuant to
      Section 10.2 shall be retained until such audit is
      completed.

     

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    (10.2) Audit.
      Licensee agrees to keep true and accurate records for the purpose of making
      the
      reports described in Section 3.5 of the Agreement. Licensor shall have the
      right, not exercisable more than [*] per [*], to nominate a certified public
      accountant (“auditor”) acceptable to and approved by Licensee, which approval
      shall not be unreasonably withheld, who shall have access to the records of
      Licensee during reasonable business hours for the purpose of verifying
      compliance with the reporting obligations set forth in Section 3.5 as well
      as such other books and records as are reasonably required to verify Licensee’s
      compliance with all of the terms and conditions of this Agreement. Licensor
      shall provide Licensee with no less than sixty (60) days written notice of
      its
      intent to audit the Licensee’s books and records as provided under this
      Agreement, and Licensee shall be ready for such audit.  Such notice shall
      indicate the period to be audited, the identity of the auditor and the proposed
      scope for the audit.  The auditor shall only disclose to Licensor
      information necessary to determine Licensees compliance with the terms and
      conditions of this Agreement. If any audit or examination of Licensee’s books
      and records reveals that Licensee has failed properly to account for and pay
      Licensee Fees owing to Licensor hereunder, such owed amount will bear interest
      until paid at a rate per annum equal to twelve percent (12%). If the unpaid
      amount exceeds the total amount reported under the reporting obligations set
      forth in Section 3.5 by [*] or more in any given year under the Agreement,
      Licensee will reimburse Licensor for [*].

     

    (10.3) Licensee’s
      books and records pertaining to any particular royalty report may be examined
      as
      aforesaid only within [*] after the date rendered and Licensee shall have no
      obligation to permit Licensor to so examine such books and records relating
      to
      any particular royalty report more than once for any one report, unless in
      connection with a civil action filed by Licensor against Licensee. 

     

    (10.4) Licensor
      shall be deemed to have consented to all royalty reports and all other
      accountings rendered by Licensee hereunder and each such royalty report or
      other
      accounting shall be conclusive, final, and binding, shall constitute an account
      stated, and shall not be subject to any questions for any reason whatsoever
      unless specific objection in writing, stating the basis thereof, is given by
      Licensor to Licensee within [*] after the date rendered. 

     

    *
      Information has been omitted from this document and filed separately with the
      Securities and Exchange Commission under a request for confidential treatment
      pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as
      amended.

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

    
      	
              11.

            	
              DISPUTE
                RESOLUTION

            

    

     

    (11.1) Discussions.
      Prior
      to either party commencing any proceeding against the other party to enforce
      any
      rights or seek any remedy arising out of any dispute under this Agreement,
      the
      parties shall attempt to resolve any dispute as set forth in this Section 11.1.
      Any dispute between the parties shall first be referred to the principal
      executives having responsibility for performance of this Agreement. Such
      executives will attempt in good faith promptly to resolve such dispute. If
      such
      dispute is not resolved within ten (10) days of written notice to the other
      party of the existence of such dispute, the dispute shall be referred to senior
      executives of Licensor and Licensee, who will attempt in good faith to promptly
      resolve such dispute. If the dispute is not resolved within twenty (20) days
      of
      being so referred, the parties may institute legal proceedings except that
      the
      Disputed Product Issue referenced in Section 2.2 shall first be resolved using
      arbitration as provided for in that Section 2.2 using the procedures outlined
      in
      this Section 11. This Section 11.1 shall not survive a change in Control of
      Licensee. 

     

    (11.2) Arbitration.
      If the
      Disputed Product Issue cannot be resolved in the discussions provided for in
      Section 11.1, then it shall be resolved through arbitration. Arbitration shall
      be conducted under the then current rules and procedures of the American
      Arbitration Association (AAA), except to the extent the provisions of this
      Agreement provide otherwise. 

     

    (11.3) Panel.
      The
      arbitration shall be heard and determined by a panel of three arbitrators,
      all
      of which must be approved by the parties. Such arbitrators shall be patent
      attorneys registered to practice before the U.S. Patent and Trademark Office
      and
      experienced in evaluating patent infringement.

     

    (11.4) Expedited
      Schedule.
      The
      arbitration shall be conducted such that the arbitration panel renders a
      decision on the Disputed Product Issue within six (6) months after the parties
      refer the Disputed Product Issue to arbitration.

     

    (11.5) Discovery.
      The
      parties shall be entitled to discovery of all document and information
      reasonably necessary for a full understanding of the Disputed Product Issue.
      The
      parties may use all methods of discovery available under the United States
      Federal Rules of Civil Procedure, including depositions, requests for admission
      and requests for production of documents. The time periods applicable to such
      discovery methods shall be set by the panel so as to permit compliance with
      the
      expedited schedule of Section 11.4.

     

    (11.6) Arbitration
      Venue.
      The
      location of any arbitration that occurs pursuant to this Agreement shall be
      in
      Nevada.

     

    (11.7) Performance
      During Arbitration.
      Performance of each and every obligation and covenant under the Agreement shall
      continue if reasonably possible during any disagreement or arbitration
      proceedings.

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

     

    (11.8) Prevailing
      Party.
      The
      prevailing party in arbitration shall recover its reasonable attorneys fees
      and
      costs from the other party. 

     

    (11.9) Not
      Admissible and No Effect on IPP rights.
      The
      panel’s findings and decision shall not be admissible as evidence in any other
      legal or administrative proceeding and shall not affect the interpretation
      and
      scope of the patents within the IPP. Further, the panel’s findings and/or
      decision shall not be disclosed by either party to a third party, except to
      a
      party’s legal counsel or advisors or as may be required by law, rule, regulation
      or in connection with any court order, subpoena or valid process of law, without
      the express prior written consent of the other party, provided however that
      the
      party asked to disclose the findings or decisions shall, under all
      circumstances, promptly notify the other party so that the non-disclosing party
      shall have the opportunity to seek a protective order, file a motion to quash,
      or seek other appropriate remedy as applicable. The party being requested to
      disclose shall cooperate with the other party with respect to its seeking of
      a
      protective order, motion to quash, etcetera. 

     

    
      	
              12.

            	
              PATENT
                MARKINGS

            

    

     

    Licensee
      shall affix to each Royalty Bearing Product a patent marking notice consistent
      with 35 U.S.C. §287 that identifies all applicable patent numbers. Licensee also
      agrees to mark all Royalty Bearing Products with any other applicable
      proprietary legends as may be reasonably requested by Licensor to ensure that
      the rights under the IPP are fully protected under all applicable laws.

     

    
      	
              13.

            	
              RELATIONSHIP
                OF PARTIES

            

    

     

    The
      relationship between the parties under this Agreement is one of
      licensor-licensee. Nothing in this Agreement shall be construed or interpreted
      to create a relationship between Licensor and Licensee of partner, joint
      venturer, principal and agent, or employer and employee.

     

    
      	
              14.

            	
              ASSIGNMENT

            

    

     

    This
      Agreement shall be binding on the parties and their respective successors and
      assigns. However, Licensee may not assign this Agreement or any of its rights
      or
      duties hereunder without the prior written consent of the Licensor, in
      Licensor’s sole discretion; provided, however, that if all or substantially all
      the ownership interest in or business of Licensee is purchased by a third party,
      or if Licensee merges with a third party, Licensor’s consent shall not be
      required and the rights and obligations of the Licensee (subject to Section
      11.1) shall inure to the third party or to the entity formed by the merger
      with
      the Licensee. If such third party is challenging or has challenged the validity
      or enforceability of any of the patents within the IPP in a legal or
      administrative proceeding pending at or before the time of the purchase or
      acquisition, then Licensor shall have the right to terminate this Agreement.
      At
      Licensee’s written request, Licensor shall inform Licensee, within thirty (30)
      days of receipt of Licensee’s written request, as to whether or not Licensor
      intends to exercise such right to terminate. If, in response to Licensee’s
      written request, Licensor informs Licensee that it does not intend to exercise
      such right to terminate, then Licensor shall not be permitted to exercise the
      termination right afforded in this Section 14. 

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

     

    
      	
              15.

            	
              AMENDMENT/WAIVER

            

    

     

    No
      amendment or waiver of any term or condition of this Agreement will be valid
      or
      binding on a party unless the same has been mutually assented to in writing
      by
      both parties. The failure of a party to enforce at any time any of the
      provisions of this Agreement, or the failure to require at any time performance
      by the other party of any of the provisions of this Agreement, will in no way
      be
      construed to be a present or future waiver of such provisions, nor in any way
      affect the ability of a party to enforce each and every provision
      thereafter.

     

    
      	
              16.

            	
              GOVERNING
                LAW

            

    

     

    This
      Agreement shall be deemed to be executed and performed in the State of Nevada
      and shall be governed by and construed in accordance with the laws of the State
      of Nevada, without regard to any conflicts of law provisions, as to all matters,
      including, but not limited to, matters of validity, enforceability,
      construction, effect and performance.

     

    
      	
              17.

            	
              SEVERABILITY

            

    

     

    If
      any
      provision of this Agreement is found or held to be invalid or unenforceable,
      the
      meaning of said provision will be construed, to the extent feasible, so as
      to
      render the provision enforceable, and if no feasible interpretation shall save
      such provision, it will be severed from the remainder of this Agreement, as
      appropriate. The remainder of this Agreement shall remain in full force and
      effect unless the severed provision is essential and material to the rights
      or
      benefits received by either party. In such event, the parties will use their
      best efforts to negotiate, in good faith, a substitute, valid and enforceable
      provision or agreement, which most nearly affects the parties’ intent in
      entering into this Agreement, as appropriate.

     

    
      	
              18.

            	
              USE
                OF PARTY’S NAME

            

    

     

    The
      parties to this Agreement shall not use the name of the other party in
      publicity, advertising or similar activity without obtaining the prior written
      consent of the other party, which shall not be unreasonably
      withheld.

     

    
      	
              19.

            	
              CONFIDENTIALITY
                OF AGREEMENT.  

            

    

     

    Each
      Party shall maintain the terms and conditions of this Agreement in confidence
      and shall not disclose, confirm or otherwise discuss such with any third party,
      except as may be necessary to their respective accountants, Affiliates, legal
      counsel, tax advisors, insurance carriers, bankers, gaming jurisdiction
      regulators, and IPP Parties; or as may be otherwise required by law, rule,
      or regulation; or as may be required in connection with any court order,
      subpoena or valid process of law. Information regarding this Agreement that,
      through no fault of either Party, has either been disclosed publicly or becomes
      available from a source without obligation of confidentiality shall not be
      considered confidential. 

     

    
      
        
        

      

      
        -15-

        
          

        

      

      
        
        

      

    

     

    
      	
              20.

            	
              COUNTERPARTS

            

    

     

    This
      Agreement may be signed in two counterparts, each of which shall be deemed
      an
      original and which shall together constitute one Agreement.

     

    *
      * * *
      *

     

    IN
      WITNESS WHEREOF,
      the
      parties have caused this Agreement to be executed by their duly authorized
      officers or representatives.

     

    
      	
              LICENSEE

            	
              LICENSOR

            
	 	 
	
              By:
                /s/ Orrin J. Edidin

            	
              By:
                /s/ Mark Hettinger

            
	 	 
	
              Name:
                Orrin J. Edidin

            	
              Name:
                Mark Hettinger 

            
	 	 
	
              Title:
                Executive
                Vice President and Chief
                Operating Officer

            	Title:
              IPP Licensing Agent
	
            	 
	Date: 9/26/06	Date:
              9/27/06

    

     

    
      
        
        

      

      
        -16-

        
          

        

      

      
        
        

      

    

    

    SCHEDULE
      A

    

    This
      Schedule A is intended to show the applicable patents and patent applications
      of
      the IPP, but it may have errors or omissions, which errors or omissions are
      not
      being represented or warranted by the IPP Parties. This Schedule A is subject
      to
      further modification.

    

    
      	
              Dickinson
                et al.

            	
              5,265,874

            	
              11/30/1993

            	
              United
                States

            	
              Cashless
                Gaming Apparatus Method

            
	
              Dickinson
                et al.

            	
              BRPI9303372-9

            	
              8/12/1993

            	
              Brazil

            	
              Aparelho
                e processo para jogar um jogo

            
	
              Dickinson
                et al.

            	
              CA2101983

            	
              5/11/1999

            	
              Canada

            	
              Cashless
                Gaming Apparatus Method

            
	
              Dickinson
                et al.

            	
              JP216151/93

            	
              4/4/1995

            	
              Japan

            	
              Cashless
                game play system and its method

            
	
              Bittner
                et al.

            	
              5,290,033

            	
              3/1/1993

            	
              United
                States

            	
              Gaming
                Machine and Coupons

            
	
              Bittner
                et al.

            	
              CA2150723

            	
              5/16/2004

            	
              Canada

            	
              Gaming
                Machine and Coupons

            
	
              Raven

            	
              5,429,361

            	
              7/4/1995

            	
              United
                States

            	
              Gaming
                machine information communication and display system

            
	
              Raven

            	
              AT0146617

            	
              1/15/1997

            	
              Austria

            	
              INFORMATIONS-,
                KOMMUNIKATIONS- UND ANZEIGESYSTEM FUER SPIELAUTOMATEN

            
	
              Raven

            	
              AU664384

            	
              8/19/2001

            	
              Australia

            	
              Gaming
                machine information, communication and display system

            
	
              Raven

            	
              CA2078936

            	
              9/23/1992

            	
              Canada

            	
              Gaming
                machine information communication and display system

            
	
              Raven

            	
              DE69216029

            	
              5/19/2005

            	
              Germany
                

            	
              Informations-,
                Kommunikations- und Anzeigesystem für Spielautomaten

            
	
              Raven

            	
              EP534718

            	
              9/8/2004

            	
              EPO

            	
              Gaming
                machine information, communication and display system

            
	
              Raven

            	
              ES2099801T5

            	
              3/1/2005

            	
              Spain

            	
              SISTEMA
                DE INFORMACION, COMUNICACIONES Y VISUALIZACION PARA MAQUINAS DE
                AZAR.

            
	
              Raven

            	
              GR3022859T

            	
              6/30/1997

            	
              Greece

            	
              GAMING
                MACHINE INFORMATION, COMMUNICATION AND DISPLAY SYSTEM

            
	
              Raven

            	
              JP7024144

            	
              1/27/1995

            	
              Japan

            	
              GAME
                MACHINE INFORMATION, COMMUNICATION, AND DISPLAY SYSTEM

            
	
              Raven

            	
              NZ0244274

            	
              12/21/1995

            	
              New
                Zealand

            	
              CASHLESS
                GAMING: CENTRAL CONTROLLER AND TERMINALS

            
	
              Raven

            	
              ZA9207244

            	
              8/7/1993

            	
              South
                Africa

            	
              GAMING
                MACHINE INFORMATION, COMMUNICATION AND DISPLAY
                SYSTEM.

            

    

     

    
      
        
        

      

      
        -17-

        
          

        

      

      
        
        

      

    

     

    
      	
              LeStrange

            	
              5,470,079

            	
              11/28/1995

            	
              United
                States

            	
              Game
                machine information communication and display system

            
	
              LeStrange

            	
              AT0173851

            	
              12/15/1998

            	
              Austria

            	
              SYSTEM
                ZUM ABRECHNEN UND UEBERWACHEN EINES SPIELAUTOMATEN

            
	
              LeStrange

            	
              AU702021

            	
              2/11/1999

            	
              Australia

            	
              GAME
                MACHINE ACCOUNTING AND MONITORING SYSTEM

            
	
              LeStrange

            	
              CA2151990

            	
              5/11/1999

            	
              Canada

            	
              Game
                machine accounting and monitoring system

            
	
              LeStrange

            	
              DE69506175D

            	
              4/15/1999

            	
              Germany
                

            	
              SYSTEM
                ZUM ABRECHNEN UND UEBERWACHEN EINES SPIELAUTOMATEN

            
	
              LeStrange

            	
              DK0688003

            	
              8/9/1999

            	
              Denmark

            	
              SYSTEM
                TIL AFREGNING OG OVERVAAGNING AF EN SPILLEAUTOMAT

            
	
              LeStrange

            	
              EP0688003

            	
              11/25/1998

            	
              EPO

            	
              Game
                machine accounting and monitoring system

            
	
              LeStrange

            	
              ES2124464

            	
              2/1/1999

            	
              Spain

            	
              SISTEMA
                DE CONTABILIDAD Y MONITORIZACION PARA UNA MAQUINA DE
                JUEGO.

            
	
              LeStrange

            	
              HK1,012,107

            	
              3/24/200

            	
              Hong
                Kong

            	
              GAME
                MACHINE ACCOUNTING AND MONITORING SYSTEM

            
	
              LeStrange

            	
              JP8,180,115

            	
              7/12/1996

            	
              Japan

            	
              ACCOUNTING
                AND MONITORING SYSTEM FOR GAME MACHINE

            
	
              LeStrange

            	
              NZ0272244

            	
              10/24/1997

            	
              New
                Zealand

            	
              ACCOUNTING
                AND DATA COLLECTION FOR A GAMING MACHINE

            
	
              Burns
                et al.

            	
              6,048,269

            	
              4/11/2000

            	
              United
                States

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              AT0190856

            	
              4/15/2000

            	
              Austria

            	
              SYSTEM
                SOWIE VERFAHREN FUER MUENZLOSEN SPIELAUTOMATEN

            
	
              Burns
                et al.

            	
              CA2132019

            	
              12/14/2004

            	
              Canada

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              CA2458502

            	
              4/5/2005

            	
              Canada

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              CA2458503

            	
              11/30/2004

            	
              Canada

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              CA2459152

            	
              4/5/2005

            	
              Canada

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              CA2479392

            	
              8/4/1994

            	
              Canada

            	
              CHANGE
                STATION FOR PROVIDING CURRENCY

            
	
              Burns
                et al.

            	
              DE69423555

            	
              11/9/2000

            	
              Germany
                

            	
              SYSTEM
                SOWIE VERFAHREN FUER MUENZLOSEN SPIELAUTOMATEN

            
	
              Burns
                et al.

            	
              639,998

            	
              3/22/2000

            	
              Great
                Britain

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              639,998

            	
              3/22/2000

            	
              EPO

            	
              COINLESS
                SLOT MACHINE SYSTEM AND METHOD

            

    

     

    
      
        
        

      

      
        -18-

        
          

        

      

      
        
        

      

    

     

    
      	
              Burns
                et al.

            	
              639,998

            	
              3/22/2000

            	
              Ireland

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              ES2073387

            	
              8/16/1995

            	
              Spain

            	
              SISTEMA
                Y METODO PARA MAQUINA TRAGAPERRAS SIN MONEDAS.

            
	
              Burns
                et al.

            	
              GR95300045

            	
              7/31/1995

            	
              Greece

            	
              COINLESS
                SLOT MACHINE SYSTEM AND METHOD.

            
	
              Burns
                et al.

            	
              JP2002-127610

            	
              2/25/2003

            	
              Japan

            	
              Coinless
                Slot Machine System and Method

            
	
              Burns
                et al.

            	
              6,729,957

            	
              5/4/2004

            	
              United
                States

            	
              Gaming
                method and host computer with ticket-in/ticket-out
                capability

            
	
              Burns
                et al.

            	
              10/838,461

            	
              1/27/2005

            	
              United
                States

            	
              Slot
                machine with ticket-in/ticket-out capability 

            
	
              Burns
                et al.

            	
              6,736,725

            	
              5/18/2004

            	
              United
                States

            	
              Gaming
                method and host computer with ticket-in/ticket-out
                capability

            
	
              Burns
                et al.

            	
              6,729,958

            	
              5/4/2004

            	
              United
                States

            	
              Gaming
                system with ticket-in/ticket-out
                capability

            

    

     

    
      
        
        

      

      
        -19-

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      B

    

    

    Each
      gaming machine obtained hereunder with cashless capability (a “Licensed Cashless
      Gaming Machine”) is provided under a limited license to one or more of the
      following U.S. Patent Nos. 5,290,033; 5,265,874; 5,429,361; 5,470,079;
      6,048,269; 6,729,957; 6,729,958 and 6,736,725. Any use of a Licensed Cashless
      Gaming Machine constitutes the acknowledgement of and agreement to the following
      “Limited
      License”:

     

    
      	
              1.

               

            	
              Licensed
                Cashless Gaming Machine License Rights.
                Licensed Cashless Gaming Machines are licensed for use solely in
                connection with a cashless gaming system that is separately licensed
                under
                these patents (a “Licensed Cashless Gaming System”). The use of a Licensed
                Cashless Gaming Machine with an unlicensed gaming system that has
                cashless
                capability is an unlicensed use. 

            
	 	 
	
              2.

               

            	
              Other
                License Limitations.
                Each Limited License is expressly limited to the original Licensed
                Cashless Gaming Machine (i.e.,
                one serial number per license) and personal to the Customer. A license
                may
                not be transferred from one gaming machine to another or from one
                Customer
                (e.g.,
                casino) to another. Any unauthorized transfer voids this
                license.

            
	 	 
	
              3.

               

            	
              Permitted
                Transfers to Affiliated Properties for gaming machines.
                Upon payment of a transfer fee (which fee is $50 per gaming machine
                per
                transfer - and is subject to change), a Customer may obtain authorization
                to transfer a Licensed Cashless Gaming Machine between Affiliated
                Properties by obtaining a transfer authorization certificate from
                IGT. For
                purposes of this Limited License, Affiliated Properties are properties
                with a common owner who has a majority interest in both properties.
                

            

    

     

    
      
        
        

      

      
        -20-

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