Document:

Purchase and Sale Agreement dated June 23, 2005

 EXHIBIT 4.40 
  
 Purchase and Sale Agreement 
  

This Agreement is entered into by and between: 
  
 (1) Hoshin GigaMedia Center Inc. (hereinafter “Seller”) 
  
 (2) Webs-TV Digital International Corp. (hereinafter “Buyer”) 
  
 WHEREAS, Seller agrees to transfer to Buyer Seller’s operation of the “Gigigaga Internet Website” (see Attachment 1 for the Internet address), as well as
ownership and all intellectual property rights in the data bank. Both parties, in accordance with the principles of mutual trust and benefit, agree to conclude the following articles (“Articles”) and jointly abide by them: 
  
 Article 1: Subject of the Agreement 
  
 Section 1: Subject of the Transfer 
  

	1.	The Seller agrees to transfer to the Buyer all of its ownership rights and all the intellectual property rights that the Seller possesses (see Attachment 2), and any other rights
incident to intellectual properties in the Gigigaga Internet Website. The subject of the transfer includes the following information: 

  

	 	(1)	the website’s name and address (see Attachment 1); 

  

	 	(2)	the writings, referring to works, scripts, essays, poems, book works, commentaries, advertisements, catalogues, product explanations, market information, documents, internet website
organized support form, and works expressed by any characters, numbers or symbols; 

  

	 	(3)	information, referring to an individual’s information, for example: name, address, also including numbers, price details, etc. 

  

	 	(4)	data bank; 

  

	 	(5)	characters, referring to man-made manufactured characters; 

  

	 	(6)	music; 

  

	 	(7)	pictures and non-moving pictures; 

  

	 	(8)	moving pictures and portraits and other audio-visual works; 

  

	 	(9)	computer programs and other original codes; 

  

	 	(10)	the Gigigaga mark and design (see Attachment 3); and 

  

	 	(11)	all other works that can be protected by copyright that the Seller possesses in the Gigigaga Internet Website. 

  
 With respect to the subject of the transfer that is copyrighted, Buyer has
the right to change or to make derivative works and the right to choose whether or not to include the author’s name. 
  

	2.	For hardware and matching software equipment, see Attachment 4. 

  

	3.	Gigigaga Internet Website members and users’ individual information: those Gigigaga’s Internet Website members or users who were notified by Seller, or who before June 29,
2005 expressed agreement or did not object. 

  

	4.	Except for the logos and designs listed in Attachment 3, the subject of the transfer does not include Seller’s other labels, logos or designs. With respect to Seller’s
other labels, logos or designs which have been stored in the subject of the transfer, Seller agrees to vest the right in Buyer to continue using them in the original way within the scope of the original intention, unless both parties agree in
writing or Seller notifies Buyer to stop using them. 

  
 Section 2:
Subject of Authorization 
  
 Prior to 30 June 2005, Seller shall notify those
websites that were originally linked to the Gigigaga Internet Website whether they would agree, upon conclusion of this Agreement, to continue to be linked to the Gigigaga Internet Website. 
  
 Article 2: Subject of Purchase and Sale; Price and Payment Terms 

 
 Section 1: Price 
  

	(1)	Buyer agrees to pay Seller NT$19,000,000 (including tax) in exchange for all the subject of the transfer other than the subject set forth in Paragraph 2, Section 1 of Article 1.

  

	(2)	Buyer agrees to pay Seller NT$2,000,000 (including tax) in exchange for the subject of the transfer set forth in Paragraph 2, Section 1, Article 1. 

  
 The total price for the preceding two paragraphs is NT$21,000,000. 

 Section 2: Payment schedule. Both parties agree to conclude and sign this Agreement within 5 days. Buyer shall pay Seller
in cash in the amount of NT$3,000,000 as well as six checks each with a face value of NT$3,000,000, in exchange for the subject of Section 1 of this Article. Both parties agree to complete payment within 24 months of concluding and signing of this
agreement: 
  
 First Term: Buyer shall pay NT$3,000,000 (including tax) on the
date of signing the agreement for settlement of the purchase price of the first term. 
  
 Second Term: Buyer shall pay NT$3,000,000 (including tax) on 1 December 2005 for settlement of the purchase price of the second term. 
  
 Third Term: Buyer shall pay NT$3,000,000 (including tax) on 1 May 2006 for settlement of the purchase price of the third term. 
  
 Fourth Term: Buyer shall pay NT$3,000,000 (including tax) on 1 September 2006 for settlement
of the purchase price of the fourth term. 
  
 Fifth Term: Buyer shall pay
NT$3,000,000 (including tax) on 1 December 2006 for settlement of the purchase price of the fifth term. 
  
 Sixth Term: Buyer shall pay NT$3,000,000 (including tax) on 1 March 2007 for settlement of the purchase price of the sixth term. 
  

Seventh Term: Buyer shall pay NT$3,000,000 (including tax) on 1 July 2007 for settlement of the purchase price of the seventh term. 
  
 Article 3: Delivery Schedule 
  
 Section 1: Seller should systematically deliver the subject of the transfer to the Buyer
within one month starting from 30 June 2005. 
  
 Section 2: After payment of the
price of the First Term according to the provisions set forth in Section 2, Article 2 of this Agreement, Seller shall, at its own expenses, follow Buyer’s instructions to transfer hardware and software listed in Attachment 4 and to deploy human
resources in related coordinated efforts. Seller shall follow Buyer’s instructions and supply not more than 500 hours of education and training sessions, in order that Buyer can easily operate the Internet website. 
  
 Section 3: The transfer time of the members’ and users’ information is 30 June
2005. 
  
 Section 4: If it is necessary to apply to relevant authorities for a
change in the subject of the transfer, Seller should properly prepare relevant forms in collaborating with Buyer for the application, and pay off all expenses owed with respect to enrollment or registration fees before 30 June 2005. 
  
 Article 4: Gigigaga Internet Website Bandwidth Usage Rewards 
  
 Section 1: Buyer agrees, for 10 years starting from the first day of the first month
following 6 months after the date this Agreement goes into effect, to share the income from the Gigigaga Internet Website with Seller. Buyer agrees to determine the distribution of income on a monthly basis, and Buyer agrees, for the determined time
period as set out in the preceding sentence that for the first five (5) years, in accordance with Article 6 of this Agreement, as a reward for using Seller’s bandwidth, 10% of the total net income of Gigigaga Internet Website members and their
accumulated expenditures will be included when calculating the reward for Seller; this reward will be adjusted to 15% starting year 6 (six). 
  
 Section 2: All related costs listed in this Agreement shall be deemed to include tax. 
  
 Article 5. Gigigaga Internet Website Usage Rewards and Accounts Affairs 
  
 Section 1: Seller and Buyer shall complete verification of the rewards from the previous
month’s usage of bandwidth/frequency by the 5th day of each month, and Seller shall issue receipt on the
15th of the month and deliver to Buyer as invoice. Buyer shall within 30 days upon receipt of the invoice, issue a
90-day check to Seller. 
  
 Section 2: Buyer agrees to construct an accounting
system interface for Seller to verify Gigigaga Internet Website’s bandwidth/frequency usage rewards. 
  
 Article 6. Management of Gigigaga Internet Website Bandwidth 
 and Collocated Equipment
Racks 
  
 Buyer guarantees that all related services from Gigigaga Internet
Website, including all services under this Agreement and any relevant bandwidth/frequency or equipment rack businesses as required by subsequent addition of services, to the extent allowed by technology, shall designate Seller as the sole supplier,
in accordance with Article 4’s specified cooperation period, and Buyer shall not allow other users access to Seller’s bandwidth flow through Buyer. 

 Article 7. Entrustment of Management 
  
 Buyer agree that Seller will be entrusted to permanently manage for free with respect to the Gigigaga Internet Website’s private user
web space, email and online photo album (see Attachment 5 for the internet address). Only Buyer may also operate related businesses. Seller shall retain all income derived from the management of services stated in this Article. 
  
 Article 8. Business Cooperation 
  
 Section 1: Buyer shall guarantee to Seller within 2 years from 1 September 2005 to lease from
Seller the bandwidth of 100MBPs or more (including 100MBPs) on a monthly basis for purposes of its Internet business. Even if 100MBPs is not achieved, Buyer would still pay Seller the user fee for the 100MBPs bandwidth. 
  
 Section 2: Buyer and Seller agree that the quality of the 100MBPs should be set according to
the criteria established under the Service Level Agreement provided by New Century InfoComm Co., Ltd. to Buyer in April of 2005. The user fee agreed by Buyer and Seller according to the above clause shall be negotiated once a year. 
  
 Article 9. Advertising 
  
 Buyer agrees, within 5 years after the Agreement is executed, to provide at the minimum NT
$30,000,000 for displaying advertisements on the Gigigaga Internet Website as well as providing advertisements for Seller’s designated trademark, logos or designs. 
  
 Article 10. Marketing Cooperation 
  
 Seller and Buyer agree, upon execution of this Agreement and the other Party’s request, to provide assistance in facilitating the other Party’s undertaking of
product and service marketing with each Party’s respective members, including Gigigaga’s members. 
  
 Article 11. Non-compete Clause 
  
 Section 1: Seller agrees, upon the date of execution of the Agreement, to deliver systematically the subject of the transfer to Buyer in accordance with the delivery schedule under Article 3. Subsequent to delivery of the subject of the
transfer, Seller may not retain any subject of the transfer under Article 1 in any other website. If Seller violates the above clause, Seller is responsible for obviating any legal disputes arising therefrom and shall not cause any damages to
Buyer’s interests. 
  
 Section 2: Seller agrees, within ten (10) years after
the execution of this Agreement, not to operate any website having the same or similar subjects covered by this Agreement. If after ten (10) years Seller intends to operate a website having the same or similar subjects as those covered by this
Agreement, Buyer has the right of first refusal to cooperate with Seller, thereby Seller shall notify Buyer of its plan to operate a website of same or similar subjects in order to confirm whether Buyer is willing to cooperate with Seller; unless
Buyer refuses to cooperate or fails to respond within the specified period, Seller may not cooperate with a third party or operate on its own. 
  
 Section 3: Seller agrees upon execution of the Agreement not to employ any means to instigate or induce any members or users of the Gigigaga Internet Website who have
agreed to the transfer in accordance with this Agreement, to stop using the Gigigaga Internet Website. Buyer agrees not to employ any means to instigate or induce Seller members to stop using Seller’s broadband Internet access services.

  
 Article 12. Confidentiality 
  
 Seller and Buyer must keep confidential any information about the existence and terms of this
Agreement or any information (including any business/trade secrets) obtained under or pursuant to this Agreement and must not disclose such information to any third party unless for any other purpose unless otherwise disclosed in accordance with
applicable laws or under the order of competent authorities. 
  
 Article 13. Representations and Warranties 
  
 Section 1: Seller and
Buyer have the requisite legal power and authority to enter into this Agreement. Seller shall guarantee that any assignment pursuant to the Agreement shall not infringe the intellectual property or other rights of any third party. If a third party
claims that its rights have been infringed due to an assignment or authorization based on the Agreement, Seller shall indemnify Buyer, its manager and employees all direct losses or necessary costs incurred arising from Seller’s negligent or
willful conduct. Seller should cooperate and provide relevant information during litigation and/or governmental investigation. 

 Section 2: Seller agrees and understands that Buyer only obtained the ownership to the website and all of Seller’s
intellectual property as well as other relevant information. In addition, unless otherwise confirmed in writing by both parties, Buyer shall not bear any debts or obligations incurred by Seller during its operation period. Seller shall be
responsible for paying off all such liabilities. 
  
 Section 3: Buyer agrees to
continue to provide services to the Gigigaga Internet Website members or other users who have already paid or whose preferential treatment period has not yet expired. Buyer shall be paid by Seller for rendering the above mentioned services.

  
 Section 4: Buyer shall guarantee not to damage Seller’s trademark and not
to maliciously hurt or attack Seller’s business reputation. 
  
 Section 5:
After this Agreement comes into force, if either Party to the Agreement receives notice from governmental authorities, judicial authorities or relevant beneficiaries claiming that the Gigigaga Internet Website members or users have uploaded illegal
files or that which infringe on other people’s rights, the Party should immediately notify the other Party, and Buyer shall take appropriate measures to remedy the situation within 3 business days of receiving notice from Seller, competent
authorities, judicial authorities and/or related beneficiaries. If Seller or its manager and employees incur direct damages due to Buyer’s failure to comply with this Article, Buyer shall be liable for such damages. 
  
 Section 6: Buyer guarantees that prior to Seller’s termination of operations pursuant to
Article 7 of this Agreement, it shall not terminate the operation of the Gigigaga Internet Website. 
  
 Article 14. Limitation of Liabilities 
  
 Unless otherwise provided in this Agreement, Seller shall bear all liabilities incurred as a result of its operations of the subjects covered by this Agreement under Article 1 before 30 June 2005. If Seller fails to
perform its obligations and thereby is liable for any damages, Seller shall bear all responsibility resulting therefrom. Starting 1 July 2005, Buyer shall bear all liabilities incurred as a result of its operations of the subjects covered by this
Agreement under Article 1. 
  
 Article 15. Cancellation and
Termination 
  
 The Agreement shall be terminated upon the occurrence of any of
the following: 
  
 Section 1: If any Party is unable to pay outstanding
liabilities that are due, or has applied for bankruptcy or been declared bankrupt, and the creditor has taken over the role of the designated trustee of the properties in transferring the properties or derogating the Party’s credit, the other
Party may proceed with termination of this Agreement or suspension of its obligations under this Agreement without requiring notice. 
  
 Section 2: Any Party who violates or breaches any provision of this Agreement shall, upon written notice of breach from the other Party, cure the said breach within ten
(10) days. If such breach has not been cured within the specified cure period, the aggrieved Party may terminate this Agreement immediately by written notice with immediate effect. 
  
 Section 3: Seller and Buyer’s respective rights and obligations to each provision under this Agreement shall end upon expiry of the
period designated by the corresponding provisions. The termination or cancellation of this Agreement shall not affect the creditor’s right or any request for relevant compensation for damages prior to such termination or cancellation.

  
 Article 16. Jurisdiction and Governing Law 
  
 The Parties agree to designate the Taipei District Court as the court of first instance
having jurisdiction over any dispute arising in connection with this Agreement. This Agreement shall be construed and enforced in accordance with the law of the ROC. 
  
 Article 17. Amendment; Exhibits/Attachments 
  
 Any exhibits/attachments of this Agreement shall constitute part of the Agreement. Any amendments, modifications or alterations of the
Agreement are only enforceable subject to the written consent of both Parties. 
  
 Article 18. Notices 
  
 Section 1: Any notices or
communications between the Parties shall be in writing and shall be deemed properly delivered and received when delivered to the address or telephone number set forth beneath the name of such party below: 
  

			
	 Seller: Hoshin GigaMedia Center Inc.
	 	 Buyer: Webs-TV Digital International Corp.

	 14F No.122 Tun-Hua North Road, Taipei
	 	 12F No. 100 Sec. 4 Shi-Ming Da Dow Taipei

	 (02)87515700 #302
	 	 (02)66368383

	 Contact Person: Zhi-Wei Huang
	 	 Contact Person: Ming-Yao Chen

 Section 2: Any notice, having complied with the above requirement and having been delivered within a reasonable period of
time, shall be deemed received by the other Party. Each Party shall promptly notify the other Party of any changes in that Party’s business address in accordance with the above requirement and to the addresses set forth above. The other Party
may still use the address printed in this Agreement or the last known address to notify the Party of change, and such notification shall be deemed effective. 
  
 Article 19. Non-assignability of Rights 
  
 No Party shall be permitted to assign, pledge or otherwise dispose of, in whole or in part, any rights or delegate any obligations to others under this Agreement without
the prior written consent of the other Party. In case of any violation, the other Party may, in addition to terminating this Agreement without further notice, claim for damages resulting therefrom. 
  
 Article 20. Others (Miscellaneous Items) 
  
 Section 1: All Article and Section headings contained in this Agreement shall not be deemed
to have any substantive meaning or attributed any weight in the interpretation hereof. 
  
 Section 2: In the event that any provision or part of any provision of this Agreement is held to be unenforceable by competent judicial authorities, the enforceability of the remaining provisions and terms shall not be affected. 

 
 Section 3: No failure to exercise, in whole or in part, any right or privilege under this
Agreement shall operate as a waiver of the exercise of any other right or privilege. 
  
 Article 21. Counterparts 
  
 This Agreement shall
be executed in 2 counterparts, one counterpart to be kept by Seller and Buyer respectively. 
  
 The parties hereto have caused this Agreement to be executed and delivered as of the date set forth below. 
  
 Seller: Hoshin GigaMedia Center Inc. 
 14F No.122 Tun-Hua North Road, Taipei

 Representative: Arthur MingShiang Wang 
  
 Buyer: Webs-TV Digital International Corp. 
 12F No. 100 Sec. 4 Shi-Ming Da
Dow, Taipei 
 Representative: Kevin Cheng 

 Attachment 1: Gigigaga Internet Website (for the Internet address) 
  

					
	 Domain Name

	  	 Expiration Date

	  	 Owner

	gigigaga.com	  	2006/5/24	  	Hoshin GigaMedia Center Inc.
	gigigaga.com.tw	  	2006/5/24	  	Hoshin GigaMedia Center Inc.
	gigaav.com.tw	  	2006/5/17	  	Hoshin GigaMedia Center Inc.

  
 Attachment 2: Transferred services in
GiGiGaGa Internet Website 
  

					
	 Service type

	  	 Item

	  	 URL

	Basic service	  	G-paper	  	gpaper.gigigaga.com
	 	  	Giga Web storage	  	http://freeweb.gigigaga.com/
	 	  	Giga mail	  	http://mail.gigigaga.com/
	 	  	Giga photo album	  	http://photo.gigigaga.com/
	 	  	Giga Post	  	http://popo.gigigaga.com/
	Multimedia	  	Giga Soap opera	  	vod.gigigaga.com
	Entertainment	  	Wish	  	http://www.gigigaga.com/home/seventh_evening/
	 	  	Madload	  	madload.gigigaga.com
	 	  	Quiz	  	http://iq.gigigaga.com/oscar/index.htm
	 	  	SMS	  	http://sms.gigigaga.com/SMSLogin.asp

 Attachment 3: GiGiGaGa mark and design 
  

							
	 Item

	  	 URL

	  	 Logo

	  	 

	GiGiGaGa	  	http://www.gigigaga.com	  	

	  	 
				
	Magic G playground	  	http://www.gigigaga.com/home/magic/default.asp	  	

	  	 
				
	Shopping mall	  	http://shopping.gigigaga.com/	  	

	  	 
				
	Software downloading	  	http://madloadcity.gigigaga.com/	  	

	  	 
				
	SMS center	  	http://sms.gigigaga.com/SMSLogin.asp	  	

	  	 
				
	Virus online scanning	  	http://housecall.gigigaga.com/	  	

	  	 
				
	Wish	  	http://www.gigigaga.com/home/seventh_evening/	  	

	  	 
				
	Co-brand shopping mall	  	 ex:
 http://www.jpmon.com/jp/home.asp?src=giga
	  	

	  	 
				
	Playleg	  	http://playleg.gigaav.com.tw/page/index.asp	  	

	  	 

 Attachment 4: Hardware and matching software equipment 
  

							
	 	 	 Item

	 	 Specification

	 	Location

	 1
	 	 Gm-web01(Gmweb1)
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 : HD:18G*1
	 	NOC3_14_A_SW1301
				
	 2
	 	 Gm-web02(Gmweb2)
	 	 CPU:PIII800*2 : RAM:128M*2+256M*1 : HD:18G*1
	 	NOC3_15_B_M3B15U3—>65M6P23
				
	 3
	 	 Gm-web03(Gmweb3)
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 : HD:9G*1+18G*1
	 	NOC3_14_B_SW1302
				
	 4
	 	 Gmweb4
	 	 CPU:PIII800*2 : RAM:128M*2+256M*1 : HD:9G*1+72G*1
	 	NOC3_15_B_SW1512
				
	 5
	 	 Gm-web05(Gmweb5)
	 	 CPU:PIII800*2 : RAM:128M*2+256M*2 : HD:9G*1+18G*1
	 	NOC3_15_B_M3B14U2—>65M6P20
				
	 6
	 	 Gm-web06(Gmweb6)
	 	 CPU:PIII800*2 : RAM:128M*2+256M*2 : HD:9G*1+18G*1
	 	NOC3_15_B_M3B15U5—>65M6P21
				
	 7
	 	 Gmweb7
	 	 CPU:PIII800*2 : RAM:128M*2+256M*1 : HD:9G*1+72G*1
	 	NOC3_14_A_SW1311
				
	 8
	 	 Gm-web08(Gmweb8)
	 	 CPU:PIII800*2 : RAM:128M*2+256M*2 : HD:9G*1+18G*1
	 	NOC3_14_A_M3B15U6—>65M6P22
				
	 9
	 	 Gm-web09(Gmweb9)
	 	 CPU:PIII800*2 : RAM:128M*4 : HD:18G*1
	 	NOC3_14_A_SW1307
				
	 10
	 	 Gm-web10(Gmweb10)
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 : HD:9G*1+18G*1
	 	NOC3_17_A_SW1511
				
	 11
	 	 Gm-web11(Gmweb11)
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 : HD:18G*1
	 	NOC3_14_B_SW1305
				
	 12
	 	 Gm-web12(Gmweb12)
	 	 CPU:PIII800*2 : RAM:128M*3 : HD:18G*1
	 	NOC3_15_B_SW1517
				
	 13
	 	 Gm-web13(Gmweb13)
	 	 CPU:PIII800*2 : RAM:128M*3 : HD:18G*1
	 	NOC3_14_A_SW1304
				
	 14
	 	 Gm-web15(Gmweb15)
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 :
HD:18G*2(

9G*1)
	 	NOC3_16_A_SW1501
				
	 15
	 	 Gm-web17(Gmweb19)
	 	 CPU:PIII550*2 : RAM:128M*2+256M*1 : HD:18G*1
	 	NOC3_14_A_SW1306
				
	 16
	 	 Gm-web18(Gmweb20)
	 	 CPU:PIII550*2 : RAM:256M*2 : HD:18G*1
	 	NOC3_15_B_SW1521
				
	 17
	 	 Gmweb21
	 	 CPU:PIII500*2 : RAM:128M*2+256M*1 : HD:9G*1+18G*1
	 	NOC3_14_B_SW1308
				
	 18
	 	 Newweb1
	 	 CPU:PII450*2 : RAM:64M*2+128M*2 : HD:4G*1+9G*2+18G*2
	 	NOC3_14_A_SW1312
				
	 19
	 	 Gmpublish
	 	 CPU:PIII550*1 : RAM:256M*2 : HD:10G*1+13G*1+24G*1
	 	NOC3_18_A_SW1702
				
	 20
	 	 Gmpublish2
	 	 CPU:PIII450*2 : RAM:256M*2 : HD:18G*3<SCSI>
	 	NOC3_18_B_SW1707
				
	 21
	 	 Gmpublish3(Gm-web14)
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 : HD:9G*1+36G*1
	 	NOC3_15_A_SW1513
				
	 22
	 	 Gmad1
	 	 CPU:PIII450*2 : RAM:256M*2 : HD:9G*2<SCSI>
	 	NOC3_19_A_SW1902
				
	 	 	 Gmad2
	 	 CPU:PIII550*2 : RAM:256M*2 : HD:9G*2<SCSI>
	 	NOC3_19_B_SW1901
				
	 23
	 	 Gmmail
	 	 CPU:PII450*1 : RAM:64M*2 : HD:4G*1
	 	NOC3_19_A_SW1906
				
	 24
	 	 Contentsmtp2
	 	 CPU:PII450*1 : RAM:64M*3 : HD:12G*1
	 	NOC3_19_B_SW1905
				
	 25
	 	 Gmgpsender
	 	 CPU:PII300*1 : RAM:32M*4+64M*6 : HD:4G*1+9G*1
	 	NOC3_16_A_SW1508
				
	 26
	 	 Gmediting
	 	 CPU:PII400*1 : RAM:128M*2 : HD:13G*1
	 	NOC3_18_A_SW1701
				
	 27
	 	 Gmediting2
	 	 CPU:PII450*1 : RAM:64M*2 : HD:4G*1
	 	NOC3_58_X_SWXXXX
				
	 28
	 	 Gmavedit
	 	 CPU:PIII550*1 : RAM:256M*2 : HD:18G*2<SCSI>
	 	NOC3_19_B_SW1903
				
	 29
	 	 Webregister
	 	 CPU:PIII800*2 : RAM:128M*1+256M*1 : HD:9G*1
	 	NOC3_16_B_SW1503
				
	 30
	 	 Gmftp
	 	 CPU:PII400*2 : RAM:256M*1 : HD:13G*2
	 	NOC3_17_B_SW1715
				
	 31
	 	 GmSavelog
	 	 CPU:PII400*1 : RAM:128M*2 : HD:13G*1+120G*1
	 	NOC3_13_B_SW1316
				
	 32
	 	 Bfilecenter
	 	 CPU:PIII450*1 : RAM:256M*1 : HD:18G*5<SCSI>
	 	NOC3_19_B_SW1904
				
	 33
	 	 Gm-backup01(Gmsuperpay)
	 	 CPU:PIII650*1 : RAM:256M*1 : HD:80G*2
	 	NOC3_18_A_SW1708
				
	 34
	 	 Sqlinside
	 	 CPU:PIII450*2 : RAM:512M : HD:34G*2<SCSI>
	 	NOC3_58_X_SWXXXX
				
	 35
	 	 Gmdownstorage
	 	 CPU:PII450*1 : RAM:256M*1 : HD:9G*1+18G*6
	 	NOC3_17_A_SW1717
				
	 36
	 	 Personal Computer
	 	 CPU:PIII450*1 : RAM:128M*1 : HD:8.4G
	 	 
				
	 37
	 	 Personal Computer
	 	 CPU:PIII500*1 : RAM:128M*1 : HD:8.5G
	 	 
				
	 38
	 	 Personal Computer
	 	 CPU:PIII550*1 : RAM:128M*1 : HD:8.6G
	 	 
				
	 39
	 	 Personal Computer
	 	 CPU:C-466*1 : RAM:128M*1 : HD:8.7G
	 	 
				
	 40
	 	 Personal Computer
	 	 CPU:C-500*1 : RAM:128M*1 : HD:8.8G
	 	 

  
 Attachment 5: Services Entrusted to
Seller to Manage 
  

					
	 Service

	 	 Domain name

	 	 Note

	 Giga mail
	 	 Mail.gigigaga.com
  
 Mail.gigigaga.com.tw
	 	 username@gigigaga.com
  
 username@gigigaga.com.tw

			
	 Giga web storage
	 	 Freeweb.gigigaga.com
  
 Freeweb.gigigaga.com.tw
	 	 
			
	 Giga photo album
	 	 Photo.gigigaga.com
  
 Photo.gigigaga.com.twEnd User License Agreement dated April 1, 2004

 Exhibit 4.41 
  
 

 
  
 END USER LICENSE AGREEMENT

 Contract No. EULA-010404 
  
 This agreement (“Agreement”), effective as of April 1, 2004 (the “Effective Date”), is made by and between Grand Virtual, (Alderney)
Limited, a Alderney corporation (“Grand Virtual”), having its registered office at York House, Victoria Street, Alderney, and ultra Internet Media, S.A. a Nevis corporation, having its registered address at Viera Grant & Associates,
Chambers, #10 Solomon’s Arcade, Charlestown, Nevis (“Licensee”). 
  
 Background 
  
 Licensee wishes to
operate one or more Internet-based entertainment sites (e.g games of chance, games of skill, multi-player games, affiliate networking, social networking and secure financial transactions, all such sites collectively, “Licensee’s
Site”) by employing software developed by Grand Virtual. Grand Virtual has developed software, including database managers and online systems, for the operation of Internet-based entertainment sites, and Licensee desires to obtain, and Grand
Virtual desires to grant, a license to use such software. 
  
 NOW THEREFORE, in
consideration of their respective promises and obligations set forth in this Agreement and intending to be legally bound, the parties hereto agree as follows: 
  

1. Definitions. In this Agreement, the following terms shall have the following meanings: 
  
 1.1. “Calculation Period” means each calendar month or part of a calendar month commencing on or after the Site Start Date and
during the term of this Agreement. 
  
 1.2. “Server” is a computer
connected to the Internet and containing server side components of the Software that perform game simulating, accounting, payment processing and administrative tasks. 
  
 1.3. “Inflow” is the total amount received by Licensee as proceeds from sales originating from the Licensee’s Site before
processing fees or reserve withholdings. 
  
 1.4. “Intellectual Property
Rights” means all copyrights, trademarks, trade secrets, patents, mask works and other intellectual property rights recognized in any jurisdiction worldwide, including all applications and registrations with respect thereto. 
  
 1.5. “Grand Virtual’s Technical Expertise” is the scope of knowledge and skill
possessed by Grand Virtual and its personnel in the development, improvement and maintenance of computer software, hardware, Internet web sites, Internet-based games, Internet-based commerce, online banking and credit card processing, and the like,
that is helpful in the operation of an Internet-based site. 
  
 1.6. “Gross
Revenues” are Total Inflows during a Calculation Period”. 
  
 1.7.
“Site Start Date” is the date on which Licensee first actually receives money for play on Licensee’s Site. 
  
 1.8. “Software” means Grand Virtual’s customized client-server system that enables users of Windows-based PCs connected to the Internet to engage in
services provide by Licensee’s sites and allows Licensee to monitor and administer transactions. 
  
 1.9. “Software Royalties” are payments made on a periodic basis by Licensee to Grand Virtual for the right to continue using the Software as permitted by the license granted in this Agreement. 
  
 1.10. “Use” means the installation and operation of the Software on the Server.
“Use” specifically does not include the right to distribute sublicense, reproduce, translate, modify, improve, adapt, enhance, add to or prepare derivative works of the Software. 
  
 2. Grant of License. 
  
 2.1. In consideration of Licensee’s payment of the amounts provided for herein and
Licensee’s covenants contained herein, and subject to compliance by Licensee with the terms hereof, Grand Virtual hereby grants to Licensee a non-exclusive, non-transferable, worldwide and perpetual (unless terminated as provided herein)
license to Use the Software. Licensee shall be entitled to use consultants, contractors and agents in exercising the foregoing license. 
  

 Page 1 of 11 

 3. Intellectual Property. 
  
 3.1. Grand Virtual shall retain exclusive ownership of all worldwide Intellectual Property Rights in and to the Software, and all rights
with respect to the Software not expressly granted to Licensee in this Agreement are expressly reserved for Grand Virtual. 
  
 3.2. Licensee shall not attempt to disassemble, decompile, reverse engineer or otherwise discover the source code for the Software, or otherwise duplicate or exploit the
Software, without Licensee’s written permission or as otherwise permitted under the law. 
  
 3.3. Licensee is required to display Grand Virtual’s trade name and/or trademark (the “Grand Virtual Trademark”) to identify that the Software is “Powered by Grand Virtual.” Except for the
foregoing, Licensee shall not use any of Grand Virtual’s trade names, trademarks, service marks or other designation(s) for any purpose without express written permission by the Grand Virtual. 
  
 4. Confidentiality. 
  
 4.1. Neither party shall use or disclose the other’s Confidential Information (as
hereinafter defined) except as expressly authorized by this Agreement, and shall protect all such Confidential Information using the same degree of care that such party uses with respect to its own proprietary information, but in no event with
safeguards less than a reasonably prudent business would exercise under similar circumstances. Each party’s obligations regarding the protection of Confidential Information shall survive any expiration or termination of the Agreement. Each
party shall take prompt and appropriate action to prevent or remedy any unauthorized use or disclosure of the Confidential Information. 
  
 4.2. If any Confidential Information must be disclosed to any third party by reason of any legal, accounting or regulatory requirement beyond the reasonable control of
Licensee, Licensee shall promptly notify Grand Virtual of such requirement, permit Grand Virtual (at its own expense) to seek an appropriate protective order, and cooperate with Grand Virtual in its efforts to do so. 
  
 4.3. “Confidential Information” means (i) the Software; (ii) the technology, ideas,
know how, documentation, processes, algorithms and trade secrets embodied in the Software; and (iii) any other information, whether disclosed orally, visually or in written or digital media, that is identified as “confidential,”
“proprietary,” or similarly at the time of such disclosure. Confidential Information shall not include any information that is (a) published or otherwise available to the public other than by breach of this Agreement by Licensee; (b)
rightfully received by Licensee from a third party without confidential limitations; (c) independently developed by Licensee as evidenced by appropriate records; (d) known to Licensee prior to its first receipt of same from Grand Virtual as
evidenced by appropriate records; (e) hereinafter disclosed by Grand Virtual to a third party without restriction on disclosure; or (f) approved for public release by written authorization of Grand Virtual. 
  
 5. Support 
  
 5.1. Grand Virtual is not responsible for any support or operational services except for those specified in Schedule A. 
  
 6. License Fees and Software Royalties. 
  
 6.1. Licensee will pay Grand Virtual the amounts and on the terms specified in Schedule B.

  
 6.2. The amounts specified in Schedule B do not include any applicable sales,
use, value added or other excise tax. Licensee shall pay or, if paid by Grand Virtual, reimburse Grand Virtual for all such taxes based on this Agreement or amounts payable hereunder (but not any taxes based upon Grand Virtual’s gross revenues
or net income), together with any interest on such taxes if not due to Grand Virtual’s delay. All payments and amounts due hereunder shall be paid without deduction, set-off or counter claim, free and clear of any restrictions or conditions,
and without deduction for any taxes, levies, imposts, duties, fees, deductions, withholdings or other governmental charges. If any deduction is required to be made by law, Licensee shall pay in the manner and at the same time such additional amounts
as will result in receipt by Grand Virtual of such amount as would have been received by Grand Virtual had no such amount been required to be deducted. If Licensee is claiming sales or use tax exemption, a certified tax exempt certificate that
effectively exempts Grand Virtual from such tax must be attached to this Agreement or applicable purchase order submitted by Licensee. 
  

 Page 2 of 11 

 6.3. Amounts not paid when due shall be subject to interest at one and one-half percent (1-1/2%) per month or, if less,
the maximum rate of interest allowed by law, calculated from the due date. If any amount is not paid when due hereunder, Grand Virtual shall be entitled to recover from Licensee the costs and expenses incurred in connection with collecting the same
(including without limitation costs of investigation and attorneys fees). 
  
 7. Warranties, Representations and Covenants. 
  
 7.1.
Grand Virtual warrants that the Software will perform substantially in compliance with the applicable documentation during the term of this agreement. If during the term of this Agreement, Licensee notifies Grand Virtual that the Software fails to
substantially conform to applicable documentation, then at Grand Virtual’s option and as Licensee’s sole remedy, Grand Virtual will repair or replace such Software so that it substantially complies with the applicable documentation or, if
it is unable to do so after reasonable efforts, Grand Virtual will refund all amounts paid by Licensee under this Agreement for such Software. Licensee assumes full responsibility for: (i) its selection of the Software as appropriate for
Licensee’s requirements; (ii) verifying the results obtained from the use of the Software; and (iii) taking appropriate measures to prevent loss of data. Grand Virtual does not warrant that the operation of the Software will meet
Licensee’s requirements, that Licensee will be able to achieve any particular results from use of the Software, or that the Software will operate free from error. 
  
 7.2. The parties recognize that the complex nature of the computer industry, software products, the Internet and the industries, as well as
future developments in these industries and technologies, is such that this Agreement necessarily is general in nature. Each party will deal with the other fairly and in good faith and will reasonably assist the other in maximizing benefits from the
contemplated transaction. Further, each party agrees to the greatest extent possible to avoid unduly burdensome, unbusinesslike or unreasonable requests or demands of the other party. 
  
 7.3. EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 7, GRAND VIRTUAL DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED AND STATUTORY INCLUDING,
WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NONINFRINGEMENT OF THIRD PARTY RIGHTS. NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN GRAND VIRTUAL, ITS AGENTS OR ITS EMPLOYEES SHALL IN ANY
WAY INCREASE THE SCOPE OF THIS WARRANTY. 
  
 8. Compliance With Laws.

  
 8.1. Licensee may from time to time obtain licenses to operate
Licensee’s Site in various jurisdictions throughout the world. Grand Virtual will assist Licensee in establishing, operating and maintaining a Server in such additional backup locations (“Backup Locations”) as Licensee may designate.
Licensee may continue to operate the Server in its present location so long as it is lawful. If it should ever become unlawful to operate the Server in its present location, Licensee will immediately and at Licensee’s sole cost and expense
commence the operations of the Server at the Backup Locations. 
  
 8.2. Each party
is responsible for its compliance with all laws and will defend and hold the other party harmless from liability or loss resulting from the indemnifying party’s actions, omissions or defaults in violation of the laws of any jurisdiction.
Without limiting the generality of the foregoing, Licensee shall comply fully with all export laws and regulations of the United States and other countries to insure that neither the Software, nor the direct product thereof, is exported, directly or
indirectly, in violation of such laws. 
  
 8.3. Each party agrees, covenants and
represents to the other that it will not accept or allow residents of the United States to use or play for real money in Licensee’s Gaming Sites or otherwise to violate the laws of the United States. Each party will diligently enforce the
foregoing warranty and covenant and Grand Virtual will provide security devices and protections to prevent any United States resident from playing in Licensee’s Site for cash. If either party believes that the other is violating this Section,
it may seek any reasonable remedy, including termination of this Agreement or employing the dispute resolution procedure defined in Section 12. 
  
 9. Indemnification. 
  
 9.1. Grand Virtual will indemnify, defend and hold harmless Licensee, its shareholders, directors, officers, employees and agents from and against any losses, costs or
damages (including reasonable attorneys’ fees) resulting from or in connection with any claims by third parties that the Software infringes any U.S. patent, or any copyright, trade secret or trademark, provided that Grand Virtual is notified
promptly of such claim and at its expense is given full and complete authority (including settlement authority), information and assistance by Licensee for such defense. In the event that the Software is held in connection with any such claim to
infringe such a right and its use is enjoined, or if in the opinion of Grand Virtual the Software is likely to become the subject of such a claim, Grand Virtual at its own expense will either, in its sole discretion (i) procure for Licensee the
right to continue using the Software, or (ii) modify or replace the Software so that it becomes non-infringing while giving substantially equivalent performance. In the event that (i) or (ii) above are not, in Grand Virtual’s sole reasonable
determination, obtainable using commercially reasonable efforts, then Grand Virtual may terminate this Agreement and refund the amount Licensee has paid Grand Virtual under this Agreement for the 

  

 Page 3 of 11 

 
Software that is the subject of such claim, less a reasonable charge for Licensee’s past beneficial use based on depreciation of the Software on a
straight line basis over a period of five (5) years from the Effective Date. The indemnification obligation shall not apply to actions or claims to the extent that such actions or claims are based on or result from: (i) modifications made to the
Software by a party other than Grand Virtual; (ii) the combination of the Software with anything not supplied by Grand Virtual; or (iii) Licensee’s continued use of a superseded version of the Software after a subsequent version of the Software
has been provided by Grand Virtual to Licensee; in each case above, but for which modification, combination or continued use (respectively), no such alleged infringement would have occurred. THIS SECTION STATES LICENSEE’S EXCLUSIVE REMEDY AND
GRAND VIRTUAL’S ENTIRE LIABILITY FOR ANY CLAIM OF INFRINGEMENT. 
  
 9.2.
Licensee will indemnify, defend and hold harmless Grand Virtual, its shareholders, directors, officers, employees and agents from and against any losses, costs or damages (including reasonable attorneys’ fees) resulting from claims, suits or
actions by third parties arising from or in connection with Licensee’s actions or omissions, Licensee’s use of the Software or Licensee’s business, provided that Licensee is notified promptly of such claim and at its expense is given
full and complete authority (including settlement authority), information and assistance by Grand Virtual for such defense. Notwithstanding the foregoing, Licensee shall not have no obligation under this paragraph to the extent that any such losses,
costs or damages are caused by any action or omission of Grand Virtual, including any failure of the Software to perform substantially in compliance with the applicable documentation. 
  
 10. Limitation of Liability. 
  
 10.1. EXCEPT WITH RESPECT TO CLAIMS ARISING UNDER SECTION 9 (INDEMNIFICATION) AS PROVIDED THEREIN OR A BREACH OF SECTION 4 (CONFIDENTIAL INFORMATION), NEITHER PARTY SHALL
BE LIABLE TO THE OTHER PARTY FOR ANY INCIDENTAL, SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES OF ANY KIND (INCLUDING BUT NOT LIMITED TO DAMAGES FOR INTERRUPTION OF BUSINESS, PROCUREMENT OF SUBSTITUTE GOODS OR LOSS OF PROFITS, EVEN IF ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES) REGARDLESS OF THE FORM OF ACTION WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT PRODUCT LIABILITY OR ANY OTHER LEGAL OR EQUITABLE THEORY. IN NO EVENT WILL GRAND VIRTUAL’S AGGREGATE CUMULATIVE LIABILITY FOR
ANY CLAIMS ARISING OUT OF OR RELATED TO THIS AGREEMENT EXCEED THE AMOUNTS PAID TO GRAND VIRTUAL BY LICENSEE PURSUANT TO THIS AGREEMENT. 
  
 10.2. THE LIMITED WARRANTY, LIMITED REMEDIES, WARRANTY DISCLAIMER AND LIMITATION OF LIABILITY ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN GRAND VIRTUAL
AND LICENSEE. GRAND VIRTUAL WOULD NOT BE ABLE TO PROVIDE THE SOFTWARE WITHOUT SUCH LIMITATIONS. 
  
 11. Infringement and Dispute Resolution. 
  
 11.1. In the event of any controversy, dispute or claim between Grand Virtual and Licensee under, arising out of or related to this Agreement (including but not limited to, claims relating to breach, termination, fraud or misrepresentation,
or the invalidity, illegality or voidness of this Agreement) whether based on contract, tort, statute or other legal theory (collectively referred to hereinafter as “disputes”), the parties shall follow the dispute resolution procedures
set forth below. Only subsections 11.2 and 11.3 of this Section 11 shall apply to disputes arising out of, resulting from or relating to the intellectual property rights of a party (including but not limited to patents and patent rights, copyrights,
trademarks, service marks, trade secrets, and unauthorized disclosure of Confidential Information). 
  
 11.2. The parties shall first attempt to resolve a dispute, at the written request of either party, through discussions between an authorized senior management representative of Grand Virtual and an authorized senior
management representative of Licensee. Except as otherwise expressly provided in this Section 11, the good faith pursuit of the foregoing discussions is a condition precedent to the commencement of any mediation or arbitration or other legal
proceedings hereunder. 
  
 11.3. If a dispute is not resolved by the foregoing
discussions within thirty days, the parties shall, at the written request of either party, submit the dispute to a sole mediator selected by the parties. Except as otherwise expressly provided in this Section 11, the good faith pursuit of the
foregoing mediation procedure is a condition precedent to the commencement of any arbitration or other legal proceedings hereunder. 
  
 11.4. If not thus resolved, the dispute shall be referred to a sole arbitrator selected by the parties within thirty (30) days of the mediation or, in the absence of such
selection, to arbitration. 
  
 11.5. Arbitration shall be entered in any court of
competent jurisdiction. The arbitrator shall determine issues of arbitrability but may not limit, expand or otherwise modify the terms of this agreement. The arbitrator’s decision will be final and non-appealable except in the case of malice,
concealed bias or wanton disregard of the facts or law. “Arbitration” means the procedures established by the American Arbitration Association (“AAA”) for the resolution of commercial disputes. 
  

 Page 4 of 11 

 11.6. Each party shall bear its own attorneys’ fees and other costs and expenses unless the arbitrator decides
otherwise as a result of a party’s unreasonable or malicious conduct, but those related to the compensation and expenses of the mediator and arbitrator. If court proceedings to stay litigation or compel arbitration are instituted, the party who
unsuccessfully opposes such proceedings shall pay all associated costs, expenses and attorney’s fees which are reasonably incurred by the other party. 
  
 11.7. In the event of any disputes between the parties hereunder, neither Grand Virtual nor Licensee will cease performance with regard to any matter not in dispute
pending the resolution of such dispute by Arbitration. 
  
 11.8. The requirement
for mediation and arbitration shall not be deemed a waiver of any right of termination under this Agreement, and the arbitrator is not empowered to act or make any award other than based solely on the rights and obligations of the parties prior to
any such termination. The arbitrator shall not have authority to award punitive or other damages in excess of compensatory damages and each party irrevocably waives any claim thereto. It is understood and agreed that, notwithstanding any other
provisions of this Agreement, a material breach of the provisions of this Agreement by Licensee will cause Grand Virtual irreparable damage for which recovery of money damages would be inadequate, and that Grand Virtual shall therefore be entitled
to obtain timely injunctive relief to protect Grand Virtual’s rights under this Agreement in addition to any and all remedies available at law. The place of mediation and arbitration shall be the United Kingdom. Except to the extent required by
law, the parties, their representatives, other participants and the mediator and arbitrator shall hold the existence, content and result of mediation and arbitration in confidence. 
  
 12. Term and Termination. 
  
 12.1. This Agreement shall commence upon the Effective Date and continue until terminated as set forth in this Agreement. 
  
 12.2. The term of this agreement shall be for a period of 10 (Ten) years, commencing upon the
Effective Date. 
  
 12.3. Grand Virtual may immediately terminate this Agreement
and the license granted herein, by notice in writing to Licensee, if any of the following events occur: 
  

	 	12.3.1. 	any royalties or other sums payable are not paid when due and remain unpaid for ten (10) days after Grand Virtual gives written notice of non-payment; or 

 

	 	12.3.2. 	a material breach of this Agreement by Licensee, unless such material breach is curable and is cured by Licensee within fifteen (15) business days after notice of such breach is
provided by Grand Virtual; 

  

	 	12.3.3. 	Licensee goes into liquidation either compulsorily or voluntarily (except for the purpose of reconstruction or amalgamation), or if a receiver, administrative receiver or
administrator is appointed in respect of the whole or any part of its assets or business, or if Licensee makes any composition with its creditors or takes or suffers any similar or analogous action in consequence of debt. 

 
 12.4. Licensee shall NOT have the right to terminate this Agreement for any reason or no
reason. 
  
 12.5. Upon termination, Licensee agrees (i) not to use the Software
for any purpose whatsoever; (ii) to destroy the Software and any copy then in Licensee’s possession; and (iii) to certify to Grand Virtual that such destruction has taken place. These remedies shall be cumulative and in addition to any other
remedies available to Grand Virtual. 
  
 12.6. The following Sections shall
survive any termination of this Agreement: Sections 3,4,7,8,9,10,12,13,14,15. 
  
 13. Audits. 
  
 13.1. To ensure compliance with the terms
of this Agreement and the payment of any royalties due hereunder, Grand Virtual or its authorized designee shall have the right to inspect and audit all the relevant accounting and sales books and records of Licensee, to obtain true and correct
photocopies of such records, and to obtain such other information as necessary to determine Licensee’s compliance with this Agreement. At Grand Virtual’s request, Licensee shall provide reasonable assistance to Grand Virtual in conducting
such inspection and audit. Such audit shall be conducted during regular business hours at Licensee’s offices and in such a manner as not to interfere unreasonably with Licensee’s normal business activities. In no event shall such audits be
conducted hereunder more frequently than once every six (6) months. If such audit should disclose any underpayment of royalty fees, Licensee shall promptly pay Grand Virtual such underpaid amount, together with interest thereon at a rate of one and
one-half percent (1.5%) per month or partial month during which such amount was owed and unpaid, or, if less, the highest rate allowed by law, from the date such amount became due until finally paid. If the audit reveals that Licensee has underpaid
Grand Virtual by five percent (5%) or more of the amount paid, then Licensee shall immediately reimburse Grand Virtual for Grand Virtual’s expenses associated with such audit. 
  

 Page 5 of 11 

 14. Notices. 
  
 14.1. Any notices to be given hereunder by any party to any other(s) must be given in writing and may be effected by personal delivery, by a recognized commercial
delivery service, or by registered or certified mail, postage prepaid, with return receipt requested. Mailed notices shall be addressed as first set forth above. 
  
 14.2. Each party hereto may change its address by giving written notice to every other party in accordance with the terms of this Section.
Notices shall be deemed effective upon delivery 
  
 14.3. Notice given in the
foregoing fashion will also be valid for the service of legal process. 
  
 15.
General Provisions. 
  
 15.1. Licensee shall not (by operation of law
or otherwise) assign any of its rights or delegate any of its obligations hereunder, in whole or in part, to any third party, without the prior written consent of Grand Virtual. Any purported assignment in violation of this clause shall be null and
void. 
  
 15.2. This Agreement is the complete and exclusive statement of the
agreement between the parties, supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the transactions covered hereby, and contains all of the covenants and agreements between the parties with
respect to such transaction and all matters related thereto. Each party to this Agreement acknowledges that no representations, inducements, promises or agreements oral or otherwise, have been made by any party, or anyone acting on behalf of any
party, that are not embodied herein, and that any alleged agreement, statement or promise not contained in this Agreement shall not be valid, binding or enforceable. 
  
 15.3. This Agreement may be modified by a written agreement signed by each party hereto, and by no other means. 
  
 15.4. If any provision of this Agreement is held by a court of competent jurisdiction or
arbitrator to be unlawful, void or for any reason unenforceable, that provision shall be deemed severable from, and shall in no way affect the validity or enforceability of, the remaining provisions. 
  
 15.5. Grand Virtual’s failure at any time(s) to require performance of any provision
hereof shall in no manner affect its right at a later time to enforce such provision. 
  
 15.6. No remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to herein or otherwise available at law, in equity or otherwise. 
  
 15.7. This Agreement may be executed in two or more counterparts, each of which shall be
deemed a duplicate original, but all of which together shall constitute one and the same instrument. 
  
 15.8. Each of the parties hereto specifically agrees to execute such other and further instruments and documents as may reasonably be required to effectuate the terms, conditions and objectives of this Agreement.

  
 15.9. This Agreement shall be governed by and construed in accordance with the
laws of the United Kingdom, to the greatest extent permitted by law, without giving effect to its conflicts of laws principles. The provisions of the United Nations Convention on Contracts for the International Sale of Goods are hereby excluded and
shall not apply to this Agreement. 
  
 15.10. Each party hereto agrees, as a
material inducement to every other party, that arbitration or any action at law to enforce this Agreement, or any rights hereunder must be instituted in a court or arbitration board having its situs within the United Kingdom and no other venue.

  

 Page 6 of 11 

 15.11. Any rule of law to the contrary notwithstanding, this Agreement will be construed as if drafted by both parties
regardless of which party or his legal counsel either actually drafted this Agreement or printed or physically memorialized the Agreement between the parties. 
  

IN WITNESS WHEREOF, the parties’ authorized representatives have executed this Agreement as of the Effective Date. 
  

									
	Grand Virtual (Alderney) Limited	 	 	 	Ultra Internet Media S.A. :
					
	 By:
	 	

	 	 	 	 By:
	 	

	 Name:
	 	 Robert Cahill
	 	 	 	 Name:
	 	 William Lee

	 Title:
	 	 Chief Executive Officer
	 	 	 	 Title:
	 	 Director

  

 Page 7 of 11 

 SCHEDULE A 
  
 Customization. At no additional charge to Licensee, prior to and for 30 days following the Site Start Date, Grand Virtual will
customize the Software as reasonably directed by Licensee, including sounds and graphics, as well as such accounting and game tracking functions as may be reasonably necessary to accomplish Licensee’s needs. Such customizations shall be agreed
upon at the time of the signing of this Agreement, and as outlined in Appendix A. 
  
 Grand Virtual agrees (subject to Grand Virtual’s reasonable review and approval) that it will take any and all steps reasonably requested by Licensee from time to time to upgrade or customize the Software better to accomplish
Licensee’s marketing programs and needs, provided, however, that any upgrades or customization requested after 30 days following the Site Start Date will be at a reasonable price agreed to between the parties. Grand Virtual may reject any
unreasonable or unduly burdensome or impractical requests by Licensee. If the parties are unable to agree upon a reasonable price, then the price will not exceed Grand Virtual’s expense plus a profit margin not to exceed 100%. Grand Virtual
will perform such customization promptly, but may schedule work so as not to disrupt its other business operations. Further, if Grand Virtual reasonably believes that a request is unreasonable or unduly burdensome, it may inform Licensee in writing
and Licensee may then either withdraw its request or modify its request in a fashion that the parties agree is reasonable or request dispute resolution as provided in Section 11. 
  
 24/7 Basis Service. Grand Virtual will install, administer and maintain a Server connected to the Internet via high-speed (45
Mbs) connection on a 24 hours a day, seven days a week basis (“24/7 Basis”). At all times during the term of this Agreement the Server will be physically located at a location determined by the Licensee. Grand Virtual will employ
adequately skilled computer technicians at all times to be available on a 24/7 Basis. The title of the Server will belong to the Licensee. 
  
 Backup/Recovery Service. Grand Virtual will assist in the purchase, configuration and installation of a Server and Backup Server. Grand Virtual will assist
Licensee, at Licensee’s sole cost and expense, in maintaining a system of computers and backup (“Backup System”) such that, if the Server should malfunction or require service or replacement, the data contained on the Server will be
available immediately to Licensee and further so that Licensee’s Site will remain in uninterrupted operation until the Server is replaced or repaired and restored to fully operational status. Licensee may not access any of the server side
components of the Software in such a manner or fashion as to jeopardize system security, as determined in Grand Virtual’s reasonable discretion. 
  
 Training. Grand Virtual will install the server side Software (including the necessary administrative tools) on the Server and any Backup System and will
train Licensee’s personnel to perform the necessary operational tasks to run an Internet-based entertainment site other than maintenance of the Server that will be Grand Virtual’s responsibility. Grand Virtual will provide Licensee
instructional materials sufficient to allow Licensee and its personnel to deal with the ordinary and necessary tasks arising from the Use of the Software. 
  
 On-Call Technical Support. Grand Virtual will provide on-call technical support to Licensee and its personnel on a 24/7 Basis so that Licensee may
telephonically receive support and instructions in the operation of Licensee’s Site. All support calls will be telephonically responded to by trained personnel within no more than thirty minutes. If onsite support by a technician is required,
as reasonably determined by Grand Virtual, Grand Virtual will provide (on two business days notice from Licensee) a skilled technician to such locations as Licensee may require at a rate of $500 USD, plus reasonable actual costs of transportation,
lodging and meals. 
  

 Page 8 of 11 

 Operational Services. Grand Virtual will provide to Licensee the following Operational Services so that
Licensee may successfully operate its Site. Included in such operational services are: 
  
 Establishment of banking relationships that allow Licensee to receive and process credit card payments online and to monitor and administer the operations of its Site. 
  
 Establish relationships with other various alternative payment processors
and to process online payments. 
  
 Winnings and refund
distribution services, designed to efficiently payout winnings or refunds to end users. 
  
 Provide certain cash management functions 
  
 Multi-lingual customer support for services, 24/7 via electronic correspondence, 9AM to 5PM(EST), Monday through Friday, for live voice interaction. 
  
 Customized affiliate marketing partner programs, designed to generate geographically specific customer traffic on a variable
expense model. 
  
 Development and maintenance of Customized
websites to support end user traffic. 
  

	•	 	Develop and implement direct end user marketing programs. 

  
 Patches and Bug Fixes Grand Virtual covenants to use commercially reasonable efforts to upgrade the Software at no cost to Licensee to address identified
bugs, errors or other required modifications necessary to maintain the functionality of the Software. 
  
 Translation. Without limiting the foregoing, Grand Virtual agrees to provide Licensee with the Software in English plus translated and useable versions in French, German, Italian, Spanish, Dutch, Danish,
Greek, Swedish, Portuguese, Japanese, traditional Chinese, simplified Chinese, and Korean on or before the Site Start Date, and at no additional charge or cost. Norwegian and Hebrew versions of the software will be delivered after Site Start Date.
Licensee may from to time elect (at no additional charge) to use any additional language versions of the Software as Grand Virtual has or will in the future create and Grand Virtual will provide Licensee with the same, unless such versions have been
prepared at the expense of another Licensee, in which event Licensee will equitably compensate Grand Virtual and such other Licensee therefor. If Licensee requires language versions not then supported by Grand Virtual, Licensee will pay the
reasonable cost of preparing such versions as quoted in advance of preparation. 
  

 Page 9 of 11 

 Appendix A 
  
 Schedule Of Customizations 
  

 Page 10 of 11 

 SCHEDULE B 
  

			
	 Payment

	  	 Due

	 Up-front, non-refundable license fee, of USD $0
	  	Upon signing of agreement
	Software Royalties in the amount of Forty-five percent (45%) of Gross Revenues (“Royalty Rate”) received in the particular Calculation Period	  	On the tenth day of each calendar month following the end of the preceding Calculation Period.

  
 Grand Virtual will record all data
relevant to the determination of Software Royalties from Licensee’s databases by means of utilities included in the Software. On the basis of such recorded data, Licensor shall invoice Licensee immediately following the end of each Calculation
Period for that Calculation Period’s Software Royalty. In the event that a calculation period ends on a day in which revenues are not processed by the software (i.e. holiday), the Licensor is entitled to a pro-rata share. 
  
 Gross Revenues for the Calculation Period are defined as: 
  
 ALL Gross Receipts from Credit Cards receipts, Bank Wires, and all other third party payment
providers (e.g. NETeller, 1-Pay) before any and all processor (transaction) fees and reserve withholdings. 
  
 Excluded from the Gross Receipts definition are ALL payments. For example, ALL payments to End Users (Withdrawals, Distributions and Refunds), End User Chargebacks (including fees and penalties), and ALL operational
expenditures (third party licensee commissions, data center, bandwidth, legal & accounting, etc.). 
  

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