Document:

Exhibit 4.12

    Exhibit
      4.12

      

      

      
 

      

      

      

      

      

      DATED
        2006

      

      

      

      

      FINSOFT
        LIMITED 

      

      

      And

      

      

      Mahjong
        Systems Limited

      

      

      ____________________________________________________________________

       

      PARTNER
        AGREEMENT

      ____________________________________________________________________

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      This
        Partner Agreement (the "Agreement") is made to be effective,     
        2006
        (the "Effective Date") by and between FINSOFT
        LIMITED
        ("FINSOFT"),
        a
        company incorporated in England and Wales with offices located at 16-18 Hatton
        Garden, London, EC1N 8AT, United Kingdom which expression shall include its
        Affiliates and MAHJONG
        SYSTEMS LIMITED (“MSL), a
        company
        incorporated in the Turks and Caicos Islands with offices located at Britannic
        House, Providenciales, Turks and Caicos Islands, B.W.I. which
        expression shall include its Affiliates

       

      R
        E C I T A L S

       

      A.  FINSOFT
        is a supplier of software used by the gaming industry for the purposes of
        interactive gambling.

       

      B.  
        MSL is
        engaged in supplying and hosting multiplayer Mahjong games 

       

      C.  MSL
        wish
        to use the API gateways provided by FINSOFT, to connect the Products to the
        Finsoft software licensed to the Customers, subject to the terms set out
        below

       

      NOW,
        THEREFORE, in consideration of the mutual promises and covenants set forth
        below, FINSOFT and MSL agree as follows:

       

      1. DEFINITIONS

       

      
        	
                1.1

              	
                Definitions.
                  For purposes of this Agreement, all capitalized terms shall have
                  the
                  respective meanings set forth below or as elsewhere defined in
                  this
                  Agreement:

              

      

       

      “Affiliate”
        shall
        mean the holding company of a party or a subsidiary of a party or a subsidiary
        of that party’s holding company. “Holding company” shall mean a company with
        control of a party and “subsidiary” shall mean any company that is under the
        control of a party or the holding company of a party.

       

      “Customers”
        any
        existing or future customers of FINSOFT, that licence the Products.

       

      “Intellectual
        Property Rights” or “IPR”
        means
        any patent, registered design, copyright, design right, topography right,
        trade
        mark, service mark, application to register any such rights, rights in the
        nature of any of the aforementioned rights, trade secrets, rights in
        not-patented know-how, right of confidence and any other intellectual or
        industrial property rights of any kind whatsoever in any part of the
        world.

       

      “Net
        Revenue”
        shall
        mean the total revenues received by MSL from Customers for the Product less;
        (i)
        any tax or duty assessed directly on sales; and (ii) where such items are
        specially shown on the invoice, purchase, sales, import, value added or
        consumption tax or duty, packing expenses, transportation, freight and insurance
        charges; (iii) discounts, where no other benefit, whether direct or indirect,
        is
        obtained by MSL as a result of such discount; and (iv) any integration cost
        or
        initial license fee charged by MSL.

       

      “Product(s)”
        means
        the software applications that have been or are to be developed by MSL that
        will
        connect to the Finsoft software licensed to the Customers by FINSOFT, via
        the
        API gateways as agreed to by FINSOFT.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                1.2
                  

              	
                Rules
                  of Construction.
                  As
                  used in this Agreement, (i) neutral pronouns and any derivations
                  thereof shall be deemed to include the feminine and masculine and
                  all
                  terms used in the singular shall be deemed to include the plural
                  and vice
                  versa, as the context may require; (ii) the words “hereof” and
                  “hereunder” and other words of similar import refer to this Agreement as a
                  whole, including all exhibits and schedules as the same may be
                  from time
                  to time amended or supplemented and not to any subdivision of this
                  Agreement; (iii) the words “party” and “parties” refer, respectively,
                  to a party or to both of the parties to this Agreement; (iv) the word
                  “including” is not intended to be exclusive and means “including without
                  limitation”; (v) references to section, subsection, attachment or
                  exhibit refer to the appropriate section, subsection, attachment
                  or
                  exhibit in or to this Agreement; and (vi) descriptive headings are
                  inserted for convenience of reference only and do not constitute
                  a part of
                  and shall not be utilized in interpreting this Agreement. This
                  Agreement
                  shall be fairly interpreted in accordance with its terms and without
                  any
                  strict construction in favour of or against either party. No third
                  party
                  shall have any rights to enforce any provisions of this
                  Agreement.

              

      

      

      2. DOCUMENTATION

      

      FINSOFT
        agree to provide to MSL documentation on the agreed API gateways who shall
        be
        entitled to use the API gateway for so long as the Net Revenue is paid to
        FINSOFT.

      

      	3.          
               	
              REVENUE
                SHARE. 

            

       

        
          	3.1          
                   	
                  
                    In
                      consideration of FINSOFT providing assistance in the use of
                      the API
                      gateway and connection to Finsoft’s API gateway, MSL agrees to pay to
                      FINSOFT *
                      (*)
                      of the Net Revenue. MSL shall keep full records of all income
                      received
                      relating to the Net Revenue and submit to FINSOFT at the end
                      of each month
                      a statement identifying the total sums payable to FINSOFT.
                      Payment shall
                      be due within 30 (thirty) days of month end.
                      

                  

                

           

        

      	3.2        
               	
              FINSOFT
                shall have the right to carry out audits through a suitably qualified
                auditor selected by FINSOFT. Should there be a discrepancy between
                actual
                and reported Net Revenue greater than 2% then FINSOFT shall not only
                be
                able to recover the sums outstanding together with interest, but
                in
                addition MSL shall indemnify FINSOFT for the auditors costs.
                

            

      

      	3.3        
               	
              Late
                payments shall be subject to interest from the date when payment
                ought to
                have been made until the date of actual receipt of payment. The right
                to
                receive payment shall survive termination (howsoever arising) or
                expiry of
                the term, continuing for so long as the Net Revenue accrues to MSL.
                Interest shall accrue daily and be payable on late payments, irrespective
                of receipt of invoice from FINSOFT, at the rate of 7% per annum above
                the
                base interest lending rate applicable at that time at HSBC Bank plc.,
                London, until actual receipt of cleared funds by the nominated FINSOFT
                bank account.

            

      

      4 OWNERSHIP OF
        INTELLECTUAL PROPERTY RIGHTS

      

      
        	
                4.1

              	
                Nothing
                  in this Agreement shall be effective so as to transfer or assign
                  ownership
                  of any IPR owned by a party at the commencement of this Agreement
                  nor
                  anything developed or improved by a party in the course of this
                  Agreement.
                  

              

      

       

      

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

      

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      5 TERM
        AND TERMINATION

      

      
        	
                5.1

              	
                Term.
                  This Agreement shall commence upon signing by both parties for
                  a period of
                  one year (the “Initial Term”) and shall continue thereafter unless
                  terminated by one party to the other giving not less than 60 (sixty)
                  days
                  notice expiring no earlier than the end of the Initial
                  Term.

              

      

      

      
        	
                5.2

              	
                Termination
                  for Cause. If
                  either party materially breaches a material provision of this Agreement
                  and fails to correct such breach within 90 (ninety) days following
                  written
                  notice specifying in detail the nature of the breach, or fails
                  to commence
                  to correct the breach within such 90 (ninety) day period if the
                  breach
                  cannot reasonably be cured within 90 (ninety) days and thereafter
                  fails to
                  make good faith efforts to remedy such breach, then the non-defaulting
                  party may terminate this Agreement, upon written notice of termination
                  to
                  the defaulting party. 

              

      

      

      	
              5.3 

            	
              Survival
                of Provisions. Notwithstanding
                any termination of this Agreement, the parties’ rights and obligations
                under clauses 3, 4, 7, 8.2 and 8.7 shall survive any expiration or
                termination of this Agreement. 

            

      

      6 REPRESENTATION
        AND WARRANTIES

      

      
        	
                6.1

              	
                No
                  Conflict. Each
                  party warrants to the other party that it is not restricted in
                  any way
                  from entering into this Agreement and has the right to grant the
                  licenses
                  to the other party as set forth in this
                  Agreement.

              

      

      

      
        	
                6.2

              	
                Warranty
                  Disclaimers.
                  The parties expressly disclaim all express, statutory and/or implied
                  warranties, including without limitation the warranties of
                  merchantability, fitness for a particular purpose and non-infringement.
                  Neither party makes any warranties that materials supplied to the
                  other
                  under this Agreement (excluding financial reporting information)
                  will be
                  error-free, and each party hereby disclaims any and all liability
                  on
                  account thereof. 

              

      

       

      7 CONFIDENTIAL
        INFORMATION

      

      
        	
                7.1

              	
                Definition.
                  For purposes of this Agreement “Confidential Information” shall mean
                  information including, without limitation, this Agreement and the
                  terms
                  hereof, computer programs, code, Betas, algorithms, names and expertise
                  of
                  employees and consultants, know-how, formulas, processes, ideas,
                  inventions (whether patentable or not), schematics and other technical,
                  business, financial and product development plans, forecasts, strategies
                  and information marked “Confidential” or, if disclosed verbally,
                  identified as confidential in writing prior or subsequent to such
                  verbal
                  disclosure. 

              

      

       

      
        	
                7.2

              	
                Confidentiality
                  Obligations.
                  Each party agrees to maintain all Confidential Information in confidence
                  to the same extent that it protects its own confidential information
                  but
                  in no event less than reasonable care and to use such Confidential
                  Information only as permitted under this Agreement. The Recipient
                  agrees
                  to disclose Confidential Information only to its employees, Affiliates,
                  attorneys, bankers, financial advisors and independent contractors
                  (a)
                  with a need to know to further permitted uses of such Confidential
                  Information as provided in this Agreement, (b) who are parties to
                  appropriate written agreements sufficient to comply with this clause,
                  and
                  (c) who are informed of the nondisclosure/non-use obligations imposed
                  by this clause. 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      8 MISCELLANEOUS

      

      	8.1        
               	
              Legal
                Fees and Expenses. Each
                party will pay its own fees and expenses, including without limitation
                legal fees and other expenses in connection with the transactions
                contemplated under this Agreement.

            

      

      
        	
                8.2

              	
                No
                  Consequential Damages.
                  To
                  the maximum extent permitted under applicable law, in no event
                  shall
                  either party be liable to the other under this agreement for any
                  indirect
                  or incidental or special or exemplary or punitive or consequential
                  damages
                  or for any loss of profits or loss of revenue, or loss of data,
                  or loss of
                  goodwill or work stoppage, computer failure or malfunction, incurred
                  by
                  either party or any third party, regardless of the form of action,
                  even if
                  the other party or any other person has been advised of the possibility
                  of
                  such damages. 

              

      

      

      
        	
                8.3

              	
                Severability,
                  Waiver.
                  In
                  the event any provision of this Agreement is held to be invalid
                  or
                  unenforceable, the remaining provisions of this Agreement will
                  remain in
                  full force and effect. The waiver by either party of any default
                  or breach
                  of this Agreement shall not constitute a waiver of any other or
                  subsequent
                  default or breach. 

              

      

      

      
        	
                8.4

              	
                Relationship
                  of the Parties.
                  No
                  agency, partnership, joint venture, or employment relationship
                  is created
                  as a result of this Agreement and neither party have any authority
                  of any
                  kind to bind the other party in any respect
                  whatsoever.

              

      

       

      	
              8.5  

            	
              Governing
                Law.
                This Agreement shall be governed by and construed in accordance with
                the
                laws of England. Any dispute regarding this Agreement shall be subject
                to
                the exclusive jurisdiction of the English courts, and the parties
                agree to
                submit to the personal and exclusive jurisdiction and venue of these
                courts. 

            

       

      
        	
                8.6

              	
                Force
                  Majeure.
                  Neither party shall be liable to the other for failure or delay
                  in the
                  performance of a required obligation if such failure or delay is
                  caused by
                  strike, riot, fire, flood, natural disaster, or other similar cause
                  beyond
                  such party's control, provided that such party gives prompt written
                  notice
                  of such condition and resumes its performance as soon as possible,
                  and
                  provided further that the other party may terminate this Agreement
                  if such
                  condition continues for a period of 60 (sixty) days.
                  

              

      

      

      
        	
                8.7

              	
                Entire
                  Agreement.
                  This Agreement constitutes the entire agreement between the parties
                  concerning the subject matter hereof and supersedes all prior or
                  contemporaneous proposals and agreements whether oral or written,
                  and all
                  communications between the parties relating to the subject matter
                  of this
                  Agreement and all past courses of dealing or industry custom. This
                  Agreement may not be modified or amended except in writing signed
                  by an
                  authorized representative of each party; no other act, document,
                  usage or
                  custom shall be deemed to amend or modify this Agreement. If any
                  ambiguity
                  or conflict exists between the terms of this Agreement and the
                  terms of
                  any Exhibit hereto, the terms of this Agreement shall prevail and
                  shall be
                  conclusively determined to reflect the intention of the parties
                  with
                  respect to the relevant issues. Neither party hereto shall be bound
                  by any
                  definition, condition, warranty, representation, modification,
                  consent or
                  waiver other than as expressly stated in this Agreement unless
                  set forth
                  in writing executed by the party to be bound.

              

      

      

      
        	
                8.8

              	
                Notices.
                  Any notice, request, demand, or other communication required or
                  permitted
                  hereunder shall be in writing and shall be given by courier or
                  other
                  personal delivery, or by a recognized overnight courier for next
                  day or
                  two day delivery. Notices shall be sent to the parties at the addresses
                  set forth on the first page hereof to the following persons: (i)
                  for
                  FINSOFT: Mr Predrag Popovic, Managing Director FAX: + 44 (0) 20
                  7369 6808;
                  and (ii) for MSL : Mr Adriaan Brink, Director (FAX: +1 514 288
                  0164 (or
                  any other persons or address as the parties may from time to time
                  designate in a writing delivered pursuant to this sub-clause. Notices
                  shall be deemed to have been given when received as evidenced by
                  a courier
                  receipt.

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF,
        as of
        the Effective Date, an authorized representative of each party has duly executed
        this Agreement.

      

      SIGNED
        for and on behalf of SIGNED
        for and on behalf of

      FINSOFT
        LIMITED MSL

      

      

      Signed: ........................................... Signed: ...........................................

      

      

      Name: ........................................... Name: ...........................................

      

      

      Title: ...........................................
         Title: ...........................................Exhibit 4.21

    MAHJONG
      SOFTWARE LICENSING
      AND SERVICES AGREEMENT 

     

    THIS
      AGREEMENT is made the 24th
      day
      of August 2006

     

    BETWEEN:

     

    1.   Mahjong
      Systems
      (Cyprus) Limited ofChry
      nthou Mylona,
      3
P.C.
      3030,

     
    Limassol,
      Cyprus {"MSL"}; and

    2.   Microgaming
      Software Systems Limited
      of MGS
House,
      Circular
      f asd, Douglas, 

          
      Isle of Man. IM 1 1 BL ("Micrngaming'.).

     

    REC'ITALS:

    (A)     MSL
      wishes to
      grant
      Micragaming a Hoff-exclusive
      license to
      use
      and
      to sub-Iicense the
      use
      of
      the
      Mahjong
      System: and

    (B)     Microgaming
      wishes tointegrate
      the
      Mahjong
      System with the
      Microgaming
      System in order to sub-license
      the
use
      of
      the
      Mahjong System to certain Microgaming

                        Operators
      so
      that
      the
      Microgaming
      Operators' players may
      play
the
      Mahjong Games online with players
      from
      other Operators_

     

    NOW
      ITIS
      AGREED asfollows:

     

    DEFINITIONS
      AND INTERPRETATION

     

    1.1    In
      this
      Agreerncnt,
      unless the context requires
      otherwise, the following
      words and expressions shall have the following meanings:

    
      	
               "Clearing
                House"

               

               

            	
              means
                an
                accounting
                system
                tool service responsible
                for
                receiving
                money
                from
                Operators
                (Microgaming
                or otherwise), allocating such monies between participating Operators
                of
                a Network,
                making relevant deductions
                and paying
                monies back
                to
                participating operators
                in
                accordance
                with certain rules;

            
	"Effective
              Date" 	means the
              date
              of this
              Agreement;
	"Ironbridge" 	means Ironbridge
              Limited
              of PO Box 3174, Road Town,
              Tortola. BritishVirgin
              Islands;
	
               "Intellectual
                Property Rights"

               

               

               

               

            	
              means
                all rights (including future rights) in inventions, patents, design
                rights, trade marks. trade names, domain names, copyrights, mask
                works.
                know-how. rights in unlawful competition and passing off, and till
                or
                intellectual property rights, statutory or otherwise. and all features
                thereof and all ancillary matter, in any part of the world and whether
                or
                not registered or registrable and to- the fullest extent thereof
                and for
                the full period thereof and all extensions and renewals thereof and
                all
                applications for registration thereof and all rights and interests
                thereto:

            
	
              "Mahjong
                Games"

               

            	means
              MSL.'s
              online,
              networked
              mahjong games together with
              all upgrades,
              updates.
              changes.,
              improvements and modifications thereto
	
              "Mahjong
                Games"

               

            	
              means
                the
                services to be performed ,y MSL in relation to the
                Mahjong
                System as
                set
                out in clause 6;

            

    

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    
      	
              "Mahjong System"

               

            	
              means
                MSL's software
                suite for the operation
                of an interactive
                and netvworked mahjong gaming system,
                including
                without limitation the Mahjong Games;

            
	"Microgaming
              Clearing House"	means
              a
              Clearing
              House operated by Ironbridge exclusively
              for
              Microgarning
              Operators;
	
              "Microgaming
                System" 

               

               

            	
              means
                Microgaming's
                proprietary software suite made available to Microgarning Operators
                by or on behalf of Microgaming including but not limited to games
                and
                end-use
                software and all
                ancillary, administrative and supporting software
                systems, notes and
                information;

            
	
              "Microgaming
                Operator" 

               

            	
              means an
                entity contracted to Microgaming or its agent
                for
                players sign up to that entity to play the Mahjong Games online
                against
                ether players
                from
                that and other entities:

            
	
              "Microgaming
                Fee" 

               

            	
              means
                the fee charged
                by Microgaming to each of the Microgaming Operators for the use
                of
                the Mahjong Games

            
	
              "Microgaming
                Network Rake" 

               

               

            	
              means that
                portion
                of the Rake that is represented by
                the ratio of
                Microgaming
                Operator players participating in the games
                of mahjong
                the total
                number
                of players
                participating
                in the games;

            
	
              "MSL
                Fees" 

               

            	
              means
                the fees,
                calculated
                as a percentage of the Microgaming Fee, which are payable by Microgaming
                to MSL in terms
                of clause.
                7.6 and which are set out in
                Schedule A

            
	
              "Network" 

               

               

            	
              means
                an online networked
                connection between and service
                to Operatorrs that allows players originating
                from
                Operators to play the
                Mahjong Games
                with other players from the originating and all
                other Operators;

            
	
              "Operator" 

               

            	
              means
                an
                entity contracted to
                MSL
                for players
                signed
                up to
                that
                entity to play
                mahjong
                online against other players of
                that
                and other entities;

            
	
              "Rake" 

               

               

            	
              means
                the fee
                levied on
                a winning player
                to
                participate in
                a
                game of mahjong,.,
                equal
                to a
                percentage
                of the Winnings
                {initially 10%) or
                a
                tournament entry
                feeduring
                such
                game
                of mahjong;

            
	
              "Winnings"

               

            	
              means
the
                total of all amounts won by mahjong players from other mahjong
                players,
                excluding
                such winning
                players original wagers.

            

    

    

    1.2     headings
      arc
      included
      for convenience
      only
      grid
      shall
not
      affect the
      construction of this Agreement.

     

    1.3     the
      expressions
      ''MSL"
      and "Microgaming"
      shall
      include
      (v~here
      appropriate) their successors
      in title
      and
      permitted assigns.

     

    1.4     References
      to
      statutory provisions
      shall
      be
construed
      as refererences to
      those
      provisions as amended. consolidated. extended or re-enacted from time to
tune.
      

     

    1.5     References
      to "clauses" and "Schedules" are, unless
      otherwise
      expressly stated, reference-s to the clauses and the schedules to this Agreement
      and references to the 

     
      "parties" or
      "part}" are references to the parties or
      a
party
      to
      this Agreement,

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.     
      RIGHTS

     

    2.1    
MSL
      hereby
      grantsMicrogaming
      a non-exclusive, non-transferable licence to use and
      to
      sublicense the use of the Mahjong, System in order
      that Microgaming Operators' 

         
players
can
      access
      and play the Mahjong Games online
      against players from
      Microgaming Operators and
      against
      players from
      Operators.

     

    2.2     Nothing
      in thus
      Agreement
      shall prevent MSL. from licensing any other party to use the Mahjong
      System.

     

    2.3     Nothing
      in
      this Agreement shall prevent Microgaming from developing, using and sub-licensing
      its
      own
      mahjong games or mahjong
      system or
      from
      using and sub-licensing

     
      any third
      party's
      mahjong games or
      mahjong
      system.

     

    3.     
      MICROGAMING'S
      REPONSIBILITIES

     

    3.1    Save
      for
      purposes of cttecttvely integrating
      tine Mahjong System with the Microgaming System, Microgaming may not
      reverse
      engineer,
      modify,
      decompile or disassemble

     any
      of the Mahjong System software.

     

    3.2    Microgaming
      shall pay all its own costs and expenses incurred in marketing,
      promoting
      and sub-licensing the Mahjong Games 
      to the  Microgaming Operators.

     

    4.     
      COMMENCEMENT AND
      DURATION

     

          This
      Agreement shall
      commerce on
      the Effective Date
      and
      shall
continue
      thereafter and
      remain in
      full
      force unless terminated in accordance
      with
      the
      provisions
      of clause ll.

     

    5.      RECORDS
      AND DATA

     

    The party
      stealI
      keep or
      cause
      to be kept
      Full,
       up
      to
      date
      and
accurate
      records and
      accounts
      in relation to
      its obligations
      under
      this Agreement. Each party
      will allow the other party resasonableaccess
      to
      such
      records and accounts
      as may
      be reasonably required
      by
      the
other
      party
      to
      perform
      all
      of
its
      obligations
      under
this
      Agreement

     

    6.    INTEGRATION
      AND MAHJONG SERVICES

     

    6.1   The
      partite shall use
      all
reasonable endeavours
      to ensure
      that
      the
      Mahjong
      System interfaces with
      Microgaming
      System so as to enable the exchange
      of
      information between

    the
      respective systems
      in
      a
      seamless and uninterrupted
      manner
      to
      the
      extent they relevant
      for the purposes of
      this
      Agreement.

     

    6.2   MSL
      agrees to provide Microgaming with email
      and
      telephonic
      technical support for the
      Mahjong
      System.
      24 hours per day.
      7
      days
      per
      week.

     

    6.3   MSL
      will
ensure
      that
      Microgaming
      has
      real-time access to the Mahjong
      systems back
      office
      data
      which will
      allow Microgaming to monitor all Winnings
      and
      Rake
      generated

    during 
      the
      preceding sixty
      (60)
      days
      and
      which
      will
      allow
      Microgaming to
      calculate
      the
      number
      of
      players
      from
      Microgaming Operators
      and
      from
      Operators who have played a

    game
      of
      mahjong during
      such sixty (60) day period.

     

    7.    CLEARING
      HOUSE. FEES AND PAEWS

     

    7.1    TheWinnings
      of each game of  mahjong shall be determined
      and aggregated by
      MSL on
a
      monthly
      basis
      within 10
      days
      of the
      end of each calandarmonth
      in
      respect of all

     mahjong
      gameplay
      which
      occurred during the previous calendar month. MSL will pay
      the
      Microgaming
      Network
      Rake
      applicable for
      such
      Winnings,
      less
      the
      MSL Fees.
      into

    the
      Microgaming
      Clearing
      House,
      without
      deduction
      or set-off
      (apart from the
      MSL
      Fees), within
      10
      days of the end of eachcalendar
      month
      (the
      "Payment Date").

    

    
      
        
        

      

      
        
        

        
          

        

      

       

    

     

    7.2   The
      Winnings less the Rake, shall be retained
      by MSL for
      all
      games
      in which
      the winners
      are from Operators and, for
      all
      games in
      which
      the
      winners are from Microgaming 

    Operators,
      shall be
      paid
      into
      the Microgaming Clearing House, without deduction
      or set-off, on a
      monthly
      basis
      at the
same
      time
      as the
      Microgaming Network
      Rake {less the MSL Fees} is to be paid into the Microgaming
      Clearing House
      in
      terms of clause
      7.1
      above.

     

    7.3   At
      the
      same time that each monthly payment is made by MSL in
      terms
      of
      clauses 7.1 and 7.2 MSL
      will
      provide Microgaming with a written statement
      setting
      out the total of
      all

    Winnings
      Rake, Microgamirig Network
      Rake
      and
      MSL Fees
      generated
      through gameplay which
      occurred during the
      calendar
      month to which the
      payment relates.

     

    7.4   Micrgaming
      shall be
      entitled to appoint an independent auditor
      to
      audit
MSL's
      accounts
      and
      records in order to verify that the
      monthly Winnings and
      Microgaming

    Network Rake
      paid
      to
      the
      Microgaming Clearing House by MSL is correct. Microgaming shall furnish MSL
      with
      fourteen
      (14) days written notice
      of
such
      an
      audit.

    Microgaming
      undertakes
      to make 
      payment
      of the costs
      of
the
      auditor in the
      event
of
      no
      errors being fraud
      in
      the
      manner of calculation of
      the
payments
      made to the

    Microgaming
      Clearing
      House.
      In
the
      event
      of any
      errors
      being found
      in
the
      manner
      of
      calculation ofsuch
      payment.
      MSL
      shall
      pay for the auditor's costs.

     

    7.5   The
      MSL.
      Fees payable by Microgaming are set out in schedule
      A hereto.

     

    7.6   In
      consideration
      for the
      rights
      granted and the services
      provided
      to Microgaming as set out in this Agreement, MSL will
      invoice
      Microgaming for the MSL Fee each
      calendar

    month
      in
      respect of
      all
      garneplay which occurred
      during
      the previous
      calendar
      month, such invoice
      having
      been already
      settled
      as part of the monthly
      settlement
      process.

     

    8.    INTELLECTUAL
      PROPERTY RIGHTS

     

    8.1   Microgaming
      acknowledges that all Intellectual Property Rights to
      and
      in
      respect
      of the Mahjong System are
      and
shall
      remain
      the
      property of MSL.

     

    8.2   Microgaming
      shall promptly notify MSL of any actual,threatened
      or suspected infringement of any of MSL's Intellectual Propert Rights in the
      Mahjong System of which

    Microgaming
      becomes aware.

     

    8.3   MSL
      acknowledges that all Intellectual Property rights in,
      to
and
      in
respect
      of
      the
Microgaming
      System
      are shall remain
      the
      property.
      of
      Microgaming or its
      licensors.

     

    8.4   MSL
      shall
      promptly notify Microgaming of my actual,threatened
      or suspected
      infringement of any of Microgaming's lntellecutal Property Rights
      in
      the
      Microgaming

    System
      of
      which
      MSL becomes aware.

     

    9.    CONFIDENTIALITY

     

    9.1   Each
party
      undertakes
      to the other to keep secret and confidential all information (whether written,
      pictorial, in machine
      readable Form ororal)
      andin
      whatever form received

    during
      the
      continuance of this Agreement or obtained as a result of entering into or
      performing this Agreement comprising:

     

    9.1.1  the
      commercial terms of
      this
      Agreement;

     

    9.1.2  information
      concerning
      Microgaming Operators or Microgaming Operators' players, or suppliers or
      business associations of the other party; and

     

    9.1.3  information
      concerning the financial or commercial affairs of the other party.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    all
      of
which
      shall be the "Confidential Information".

     

    9.2   Each
      party undertakes
      to
      the other
      not to
      use the Confidential
      lnformation
      of the
      other
      party except for the purposes of performing it obligations under
      this
      Agreement and
      

    shall
      not
      (without the prior written consent of the other part ) disclaim the same
to
      any
person
      save to the extent necessary for the performance of this Agreement
      and except
      to
      the
      extent that such information:

     

    92.1  is
      required
      to be disclosed by the law of any relevant jurisdiction;

    9.2.2  is
      already in the public domain at the time of disclosure or thereafter shall.
      fall
      into
      the public domain other
      than
      as a
      result of breach of this clause:
      

    9.2.3  is
      in
      the
      disclosing party's possession (as evidenced by written records) otherwise
      than as a result of a breach
      of
      this clause;

    9.2.4  becomes
known
      to
      the disclosing party
      from
      a
      source
      other
      than another
      party
      to
      this Agreement otherwise
      than
      as a
      result of a breach of
      this
clause;
      or

    9.2.5  was
      disclosed after the express
      prior written
      approval
      of
      the
      party
      to
whom
      such
      informationn belongs.

     

    9.3   Each
      of the parties
      undertakes to the other to take all
      such
      steps as shall from time
      to
      time be necessary to ensure compliance with the provision
      of this clause
      9
      by its

    employees, 
      agents
      and sub-tractors.

     

    9.4   Notwithstanding
      anything
      contained
      elsewhere in
      this
Agreement,
      the provisions of
      this
      clause 9 shall survive the
      termination
      or expiry of
      this
Agreement.

     

    10.   TERMINATION

     

    10.1   Notwithstanding
      any other
      provision
      contained herein, this Agreement may be terminated:

     

       10.1.1  by
      either
      party forthwith on giving notice in
      writing
      to the other if:

     

    
      	(i)  	
              the
                other
                commits a material or persistent breach of any term of this Agreement
                and (in
                the case of a breach capable
                of
                being remedied)
                shall
                have failed, within ten (10) days
                after
                the receipt of a request in
                writing
                from the other party sa to do, to
                remedy the
                breach; or

            

    

    
      	(ii)  	
              the
                other party
                shall become
                insolvent or
                cease to
                trade or
                have a
                receiver
                or administrative receiver (or
                the equivalent in any
                jurisdiction)
                appointed over
                it or over any
                part
                of
                its undertaking orassets
                or shall pass
                a resolution for
                winding
                up (otherwise than for the purpose of a bona fide
                scheme of
                solvent amalgamation or reconstruction) or a court
                of competent
                jurisdiction shall make
                an order
                to
                that
                effect or
                if the other
                party shall enter into any voluntary arrangement with its creditors
                or
                shah become
                subject
                to an administration order
                (or
                the equivalent in any
                juuisdiction).

            

    

     

    10.2   Either
      party
      may
terminate
      this
      Agreement
      without cause
      by
      giving
      the or
      party
      six
      (6)
      months written notice.

     

    11.   CONSEQUENCES
      OF TERMINATION

     

    11.1   Termination
      or
      expiry of this Agreement
      howevercaused
      shall
      be without prejudice to any rights or liabilities
      of the
      parties accrued at
      the
date
      of
      such termination or expiry,

     
      All monies
      owing by MSL to the Microgaming Clearing House will
      become
      immidiatley payable
      to Microgaming and all MSL Fees
      owing
      by
      Microgaming to MSL
      will

     
become
      immediately
      payable
      to MSL.

     

    11.2   On
      termination or
expiry
      of
      this
Agreement,
      save as otherwise
      expressly
      provided
      in
      this
      Agreement, all
      rights
      and obligationsof
      the parties
      under
      this Agreement
      shall

     
      automatically terminate.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
            	11.3	
              Each
                party shall at its own
                expense forthwith return to the other party or otherwise dispose
                of as the
                other party may instruct all promotional materials and
                other documents and
                property whatsoever
                sent to it by the other party together with all copies
                thereof.

            

    

     

    12.      
      WARRANTY

     

     

    
      	
            	12.1	
              MSL
                and Microgaming
                hereby warrant to each
                other that they haveall
                requisite power,
                authority
                and right to execute, deliver and perform their respective
                obligations
                under
                this Agreement,

            

    

     

     

    
      	
            	12.2	
              MSLand
                Microgaming
                hereby
                warrant
                to each other that their respective
                obligations under
                this Agreement will
                be
                carried out in aprofessional
                manner using due care, skill and diligence.

            

    

     

     

    13.      
      LIMITATION
      OF LIABILIITY AND INDEMNIITY

     

    
      	
            	13.1	
              Themaximum
                extent of either party's liability
                to the other,
                whether in contract,
                tort (including negligence)
                or
                howsoever
                arising under or
                in
                relation
                to this Agreement
                or
                the 
                performance
                  or non-performance of a party's obligation under this Agreement
                  shall not
                  exceed:

              

            

    

     

    
      	
            	13.1.1	
              in respect
                of payment liabilities under this Agreement,
                those amounts as referred to in this Agreement;
                and

            

    

     

    
      	
            	13.1.2	
              in
                any other respects US$200,000.

            

    

     

    
      	
            	13.2	
              Neither
                party shall, to the maximum extent permitted by law be liable to
                the other
                (in
                contract.
                tort (including negligence) or otherwise) for any indirect,
                special
                or
                consequential
                loss
                or
                damage,
                or for any loss of profit, goodwill, business reputation
                or
                loss of opportunity arising out of or in relation to this Agreement
                or
                the performance or
                non performance
                of it even if the possibility of such arising had beenbrought
                to the attention of the other
                party.

            

    

     

     

    
      	
            	13.3	
              Notwithstandingthe
                provisions of clauses 13.1 and 13.2, nothing herein shall limit or
                exclude
                the liability of a party to the other for any personal injury or
                death
                caused by the
                
                negligence
                  of a
                  party
                  or for any fraudulent
                  misrepresentation or fraud.

              

            

    

     

    14.      
      INDEPENDENT
      CONTRACTORS

     

    Each
      party
      is
      and
      shall
      remain
      at
      all
      times
      an
      independent
      contractor
      and nothing
      in
      this
      Agreement
      shall be deemed to create a joint venture, partnership
      or
agency
      relationship
      between the
      parties. Neither
      party has
      the right
      or
      authority to
      assume orto
      create
any
      obligation
      or responsibility on behalf of
      the
other.

     

    15.      
      FORCE
      MAJEURE

     

    Neither
      party shall be
      liable to the
      other
      party for any breach or non-performance
      of
      its
obligations
      under
      this
      Agreement
      resulting
      from causes beyond its reasonable
      control (an "Event
      of
      Force Majeure") including, but not limited to, Acts
      of
      God, governmental act, war, fire, drought, lock out, strike. or civil commotion.
      Each of the parties agrees to
      notify
      the other immediatley upon becoming aware of an
      Event
      of
Force
      Majeure and to
      use
      all
      reasonable endeavoursto overcomethe
      circumstances affecting its
      performance and to fulfill all outstanding
      obligations as
      soon
      as practicable. Either party may terminate this Agreement if
      the
other
      party is prevented from performing its obligations because of an Event of Force
      Majeure for more than thirty (30) consecutive days.

     

    16.      
      NOTICES

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    All
      notices shall be made in  writing
      and
      sent by prepaid
      registered post, by Facsimile or
      delivered by hand or courier to the address of the recipient party set out
      in this Agreement (or
      to
such
      other address as each
      party
      may
      from time to time notify in
      writing
      to the other party). Any notice served by facsimile shall be deemed served
      at
      the time of transmission provided that a confirmatory receipt of transmission
      has been made and provided
      that
      if
      any such notice would otherwise he deemed
      to
      be
      served
outside
      working hours, such
      notice shall be deemed to
      be
      served
      at
      the start
      of
      working hours on the next
      working
      day. Any notice served bypost
      shall be deemed served two working
      days after the
      date
      of posting and any notice delivered
      by tsand or courier,
      upon
      delivery.

     

    17.   ENTIRE
      AGREEMENT

     

    This
      Agreement
      constitutes the entire
      understanding
      between the parties with respect
      to the subject
      matter
      hereof and supersedes
      all prior agreements, negotiations
      and
      discussions between
      the parties relating
      to it.

     

    18.   ASSIGNMENT

     

    Neither
      psrty may
      assign or
      transfer this
      Agreement without the other party's
      prior
      written consent.

     

    19.   GENERAL

     

    19.1   No
      amendment. variation or
      modification of
      this
Agreement
      shall beeffective
      unless it is in writing and signed by a duly authorised representative
      of each
      party.

     

    19.2   If
      at any time any
provision
      of this Agreementis
      or
      becomes invalid or
      illegal in any respect, such provision shall be deemed to be severed
      from this Agreement
      but the

     
      vailidity, legality
      and
      enforceability of the remaining provisions of this Agreement shall not be
      affected or
      impaired thereby.

     

    19.3   The
Failure
      of
      a
      party to exercise or
      enforce
      any right under this
      Agreement
      shall
not
      be
      deemed
      to
be
      a
      waiver of that right nor operate
      to
      prevent
      the exercise or

     
      enforcement of
      it
at
      any
      time
      thereafter in relation to the same of any subsequent breach.

     

    20.   GOVERNING
      LAW AND JURISDICTION

     

    20.1   This
Agreement
      shall be
      governed by
      and
construed
      in
      accordance
      with the laws of
      England
      and Wales and the parties herein submit to
      the
exclusive
      jurisdiction of
      the

     
      English courts.

     

    AS
      WITNESS WHEREOF thehands
      of
      the
      duly
      authorised representatives
      of the parties on the date First
      before
      written:

     

    For
      and behalf of MSL

     

    
      	 	 	 	 
	/s/ 	 	 	/s/ 
	
              

              Director	 	 	
              

              Director/Company Secretary
	 	 	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    For
      and
      on behalf of Microgaming Software Systems Limited

     

    
      	 	 	 	 
	/s/ 	 	 	/s/ 
	
              

              Director	 	 	
              

              Director/Company Secretary
	 	 	 	 

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      A

    
      
MSL
        Fees

       

      1.     The
        MSL Fees
        payable by Microgaming in terms of clauses 7.5 and 7.6 are subject to paragraph
        2 below, *% of the Microgaming Fee.

      2.     Where
        the
        Microgaming Fee received from any Microgaming Operator in a calandar month
        is or
        greater than the MSL Fees in respect of each such operator 

      is calculated
        in accordance witht the table below.

       

       

      
        	
                Monthly
                  Microgaming Fee Bracket (per Microgaming
                  Operator) 

              	
                 MSL
                  Fee as a percentage of Microgaming Fee in the corresponding
                  bracket

              
	 	 
	$* 
                up to and
                including            
                $* 	
                 

              
	$* 
                or more but less
                than          $*	
                *%

              
	$* 
                or more but less
                than          $*	
                *%

              
	$*
                 or more                                 
                	
                *%

              
	 	
                 *%

              
	 	 
	 	 

      

    

     

     

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]