Document:

ex10_20.htm

    Exhibit
10.20

    

    SETTLEMENT
AGREEMENT

    

    This Settlement Agreement is entered
into as of the 31st day of
December, 2008 (“Effective Date”), by GPS Industries, Inc., a Nevada corporation
having its principal place of business in Sarasota, Florida (“GPSI”) and Optimal
Golf Solutions, Inc. (“OGSI”), on one hand,
and Optimal I.P. Holdings, L.P., a Texas limited partnership having its
principal place of business at 700 Lavaca, Ste 720, Austin, Texas 78701 (“Optimal”), Darryl
Cornish (“Cornish”) and Charles
Huston (“Huston”), on the
other hand (collectively, Huston and Cornish referred to herein as
“Sellers”).  All of the entities and individuals referenced above are
referred to herein collectively as “the Parties.”

    

    RECITALS

    

    WHEREAS, pursuant to a Stock Purchase
Agreement (as amended, the “Stock Purchase
Agreement”), Cornish and Huston the (“Sellers”) sold all of
the capital stock of OGSI to GPSI (the “Optimal Shares”) with
the consideration for the purchase (the “Purchase Price”)
being cash and the delivery of shares of the Common Stock of GPSI to be sold by
the Sellers as provided in the Stock Purchase Agreement;

    

    WHEREAS, a dispute has arisen over the
obligations of GPSI with respect to the payment of the remaining Purchase Price
due under the Stock Purchase Agreement;

    

    WHEREAS, on July 7, 2008, the Sellers
filed a lawsuit in the District Court of Travis County, Texas, 353 Judicial
District alleging fraud/rescission of the Stock Purchase Agreement and breach of
contract of the Stock Purchase Agreement by GPSI (the “Lawsuit”);

    

    WHEREAS, the Sellers, Optimal, OGSI and
GPSI now wish to enter into this Settlement Agreement in order to resolve all of
the disputes between them with respect to the Stock Purchase Agreement by
amending the Stock Purchase Agreement as set forth below.

    

    NOW, THEREFORE, in consideration of the
foregoing and the mutual promises and covenants contained herein, the Parties
agree as follows:

    

    1.            Defined
Terms

    1.1           All
terms used in this Agreement but not defined shall have the meaning ascribed to
such term in the Stock Purchase Agreement.

    

    
      	
              2.

            	
              AMENDMENT TO Stock Purchase
      Agreement

            

    

    

    The Stock
Purchase Agreement shall be amended by the addition of the
following

    

    2.1           The
Parties acknowledge and agree that as of December 1, 2008 the current balance of
the Minimum Purchase Price is $1,753,972 inclusive of $1,182,817 in principal
(“Principal
Balance”) and $571,155 in accrued interest (the “Interest
Amount”).  The Principal Balance shall continue to accrue
interest at the rate of 4.75% per annum per the terms of the Stock Purchase
Agreement.  The Security Agreement of Nov. 19, 2004 shall remain in
full force and effect.  Schedule A is attached showing the Minimum
Purchase Price as of December 1, 2008.

    

    2.2           The
attached $270,000 Convertible Promissory Note (Exhibit A) represents the
$270,000 ‘cash payment’ applied December 1, 2008 on Schedule A.  The
Parties agree that upon execution of the Convertible Promissory Note, this ‘cash
payment’ resolved any dispute concerning a cash payment shortfall relating to
the Third Cash Payment. (See, Second Amendment to Stock Purchase
Agreement).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.3           GPSI
has previously delivered to the Sellers 30,392,082 restricted shares of the
Common Stock of GPSI (the “GPSI Tradable
Shares”) as full payment for the Second Stock Payment.  (See,
Second Amendment to Stock Purchase Agreement).  Promptly upon the
consummation of the settlement as described below, the Sellers shall deliver to
GPSI’s counsel any certificate(s) bearing a restrictive legend evidencing the
GPSI Shares and GPSI shall instruct the transfer agent to deliver to the Sellers
replacement certificates without any restrictive legend.

    

    2.4           Within
ten business days from the Effective Date, GPSI shall deliver to the Sellers
12,000,000 shares of restricted Common Stock of GPSI (the “Interest Shares”) as
payment against the accrued Interest.  The payment amount shall be the
net proceeds (gross sales minus selling costs and expenses) Sellers receive from
the sale of any Interest Shares shall collectively be known as the “GPSI
Shares”.

    

    2.5           Minimum
Sales.  Subject to Section 2.6 and 2.7 below, the Sellers shall sell a
minimum number of GPSI Shares between the Effective Date and the third
anniversary of the Effective Date (the “Sales Period”) as
follows:

     

    
      
        	 Year
      1 	 	0
shares
	 Year
      2 	 	5000 shares per
      trading day (per day averaged over a 5 day trading period)
	 Year
      3 	 	5000 shares per
      trading day (per day averaged over a 5 day trading
  period)

      

    

     

     

    2.6           Maximum
Sales.  During the Sales Period the Sellers, except as provided
herein, will not directly or indirectly, without the prior written consent of
GPSI, sell, offer, contract to sell, pledge, grant any option to purchase or
otherwise dispose (collectively, a “Disposition”) the
GPSI Shares (the “Lock-Up Shares”), at
any time during the Sales Period.  The foregoing restriction is
expressly agreed to preclude, among other Dispositions, the holder of the
Lock-Up Shares from engaging in any hedging or other transaction with is
designed to or reasonably expected to lead to or result in a Disposition of
Lock-Up Shares during the Sales Period, even if such Lock-Up Shares would be
disposed of by someone other than such holder.  Such prohibited
hedging or other transactions would include, without limitation, any short sale
(whether or against the box) or any purchase, sale or grant of any right
(including, without limitation, any put or call option) with respect to any
Lock-Up Shares or with respect to any security (other than a broad-based market
basket or index) that includes, relates to or derives any significant part of
its value from the Lock-Up Shares.  Notwithstanding the foregoing,
during the Lock-Up Period, the Sellers shall be permitted to dispose of the
Lock-Up shares as follows: (i) during any three-month period not more than the
2% of the outstanding shares of GPSI’s common stock, and (ii), in any case, not
more than 8% of the daily trading volume on any one particular day using the
average of the previous three trading days.  Notwithstanding the
foregoing, the Sellers my transfer the Lock-Up Shares (i) as a bona fide gift or
gifts, (ii) as a distribution to limited partners or shareholders of such
person; provided, however, that in any
such case it shall be a condition to the transferee execute an agreement stating
that the transferee is receiving and holding the Lock-Up Shares subject to the
provisions of this Settlement Agreement.  Any transferor transferring
pursuant to the subsection (i) or (ii) above shall notify GPSI in writing prior
to the transfer.  During the Sales Period, there shall be no further
transfer of such Lock-Up Shares except in accordance with this
Agreement.

    

    2.7           If
during the Sales Period GPSI’s trading volume is less than 70,000 per day
averaged over a 5 day trading period, then, during such time, Sellers are no
longer required to sell the Minimum Sales as defined in Paragraph
2.5.  If during the Sales Period GPSI’s trading volume is less than
5,000 per day averaged over a 10 day trading period, then the Sellers, acting
jointly, may by written notice to GPSI accelerate the payment of the then
current balance of the Minimum Purchase Price.  GPSI shall pay Sellers
the then current balance of the Minimum Purchase Price within 10 business days
of such written notice.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.8           Within
twenty business days from the end of the Sales Period, the Sellers, acting
jointly, shall have the option by written notice to GPSI to (a) retain the then
balance, if any, f the GPSI Shares in full satisfaction of all remaining
obligations of GPSI to them with respect to the Minimum Purchase Price or, (b)
return such balance, if any, (the “Remaining Shares”) in
which case, within twenty business days from the receipt of the certificate
evidencing the Remaining Shares, GPSI shall pay to the Sellers the then current
balance of the Minimum Purchase Price, taking into account, since the Effective
Date of this Settlement Agreement, any net proceeds (as defined in the Stock
Purchase Agreement) from the sale of GPSI Shares and any cash payments made to
Sellers by GPSI.  Failure of the Sellers to notify GPSI as to its
election shall be deemed to be an election to retain the GPS
Shares.

    

    2.9           For
avoidance of doubt, GPSI shall have no obligation to register for resale any of
GPSI Shares and GPSI agrees that the GPSI Tradable Shares are now freely
tradable by Sellers.

    

    2.10         Section
8.4 of the Stock Purchase Agreement is amended as follows:

    

    The
phrase “Prior to Sellers receiving an aggregate cash consideration of $3,000,000
USD for their sale of the Shares,” in the first paragraph of section 8.4 shall
be replaced with “Prior to Sellers receiving an aggregate cash consideration of
$3,000,000 from either the sale of their Shares and/or from cash payments made
by Purchaser to the Sellers subsequent to the Second Cash Payment,”

     

     

    3.           FULL
FORCE AND EFFECT

    

    3.1           Full Force and Effect. Except
as amended hereby, all terms and conditions of the Stock Purchase Agreement
shall remain in force and effect.  In the event of a conflict between
this Settlement Agreement and the Stock Purchase Agreement (as amended) the
terms of this Settlement Agreement control.

     

     

    4.           CONSUMMATION
OF THE SETTLEMENT; DISMISSAL OF LAWSUIT

    

    The
consummation of the settlement is contingent on the execution of an agreement
(the “Replacement
Patent License Agreement”) between the Parties with respect to that
certain arbitration proceeding relating to a dispute over Optimal’s rights under
a Patent License Agreement dated November 19, 2004 between GPSI and
Optimal.  Upon the Effective Date the Sellers shall dismiss without
prejudice the Lawsuit.

     

     

    5.           MISCELLANEOUS

     

     

    5.1           Governing
Law.  This Settlement Agreement shall be governed by the laws
of the State of Texas.

    

    5.2           Counterparts.  This
Settlement Agreement may be executed in counterparts which, taken together,
shall constitute one and the same agreement and shall be effective as of the
Effective Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.3           Severability.  If
any provisions of the Settlement Agreement of the application of any such
provision shall be held to be contrary to law, the remaining provisions of this
Agreement shall continue in full force and effect.

    

    5.4           No
Admission.  This Settlement Agreement is for the sole purpose
of settling the matters involved in the Texas State Court Litigation and this
Settlement Agreement does not constitute, and is not evidence of, any admission
by any of the Parties hereto of any wrongdoing or liability.

    

    5.5           Entire
Agreement.  This Settlement Agreement together with the Patent
Settlement Agreement constitutes the entire agreement between the Parties with
respect to the subject matter hereof and supersedes all prior negotiations and
agreements, whether written or oral.  This Settlement Agreement may
not be altered or amended except by an instrument in writing executed by all of
the Parties hereto.

    

    

    <SIGNATURE
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    IN WITNESS WHEREOF, each
of the parties hereto has executed this Settlement Agreement, or has caused this
Settlement Agreement, or has caused this Settlement Agreement to be duly
executed on its respective behalf by its respective officer(s) thereunto duly
authorized, as of the Effective Date.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	Optimal
      IP Holdings, LP     	 	 	GPS
      Industries, Inc.	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	
                                      
      

                                  	 	By:	
                                    /s/
      David Chessler

                                  	  
      
	  	
                                    Name:

                                  	 	 	
                                    Name:
      David Chessler

                                  	 
	 	
                                    Title:

                                  	 	 	
                                    Title:
      Chief Executive Officer

                                  	 
	 	 	 	 	 	 
	Date:
      	 	 	Date:	 

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	Optimal
      Golf Solutions, Inc.	 	  
      	  
    	 
	 	 	 	  
      	 	 
	By:	
                                      /s/
      David Chessler

                                    	  
      	  
    	
                                       
    

                                    	  
      
	  
    	
                                      Name:
      David Chessler

                                    	  
      	  
      	
                                       
    

                                    	 
	   
      	
                                      Title:
      Authorized Representative

                                    	 	  
      	
                                       
    

                                    	  
      
	 	 	 	  
      	  
      	 
	Date:
      

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

    
    

     

    
      
        
          
            
              
                
                  	 	 
	

                                  Darryl
      Cornish

                        	

                                      Charles
      Huston

                        
	 	 
	 	 
	Date: 	Date:ex10_21.htm

    
      STRICTLY
CONFIDENTIAL

       

    

    Exhibit
10.21

     

    TERMINATION,
RELEASE AND GPS CART SYSTEMS AGREEMENT

     

    This
TERMINATION, RELEASE AND GPS CART SYSTEMS AGREEMENT, dated as of March 26, 2009
(this “Agreement”), is by
and between Leisurecorp LLC, a Dubai limited liability company (“Leisurecorp”), and
GPS Industries, Inc., a Nevada corporation (“GPSI”).

     

    WITNESSETH

     

    WHEREAS,
Leisurecorp and GPSI entered into that certain Contract Agreement (Minor Works),
dated as of October 30, 2007 (Contract No. N019-100-02) (the “2007 Contract”), with
respect to the design, supply, delivery and installation of a Wi-Fi Network and
GPS Management System in relation to the Jumeirah Golf Estates - Phase A Project
(the “Project”);
and

     

    WHEREAS,
the parties desire to terminate the 2007 Contract, to release each other from
all liabilities and ongoing obligations thereunder and to set forth a new
agreement with regard to the Project.

     

    AGREEMENT

     

    NOW,
THEREFORE, the parties agree as follows:

     

    ARTICLE
I

     

    TERMINATION
OF 2007 CONTRACT AND MUTUAL RELEASE

     

    Section
1.1      Termination of 2007
Contract.  Each of GPSI and Leisurecorp hereby agrees that from
and after the date hereof the 2007 Contract (and for the avoidance of doubt, the
documents deemed to form and be read and construed as part of the 2007 Contract,
including the Appendix, the Letter of Acceptance, the Acceptance Statement, the
General Conditions of Contract, Drawings, Specifications and Bills of
Quantities, in each case as defined in the 2007 Contract) shall hereby be
terminated and of no further force or effect and that as a result neither party
thereto shall have any continuing obligations thereunder.

     

    Section
1.2      Mutual
Release.

     

    (a) From and
after the date hereof, GPSI, on behalf of itself and the GPSI Parties (as
defined below), hereby fully, unconditionally, completely, irrevocably and
forever releases, discharges and holds harmless (i) Leisurecorp, its current and
former parents, subsidiaries and other affiliated entities and (ii) each of
their respective current and former directors, officers, employees, agents,
successors and assigns (collectively, the “Leisurecorp Parties”)
from any and all manner of claims, demands, encumbrances, agreements, contracts,
covenants, promises, actions, variances, trespasses, suits, causes of action,
controversies, obligations, debts, dues, sums of money, accounts, attorneys’
fees, reckonings, bonds, bills, specialties, damages, judgments, expenses,
executions, orders, affirmative defenses and other obligations or liabilities of
whatever kind or nature, direct or indirect, whether in law, equity or
otherwise, whether or not now known, suspected or claimed (together, “Claims” and
individually, a “Claim”), which any
GPSI Party (as defined below) ever had, now has, may hereafter have or claims to
have against any or all of the Leisurecorp Parties, directly or indirectly,
arising from or related to the 2007 Contract.

     

    (b) From and
after the date hereof, Leisurecorp, on behalf of itself and the Leisurecorp
Parties, hereby fully, unconditionally, completely, irrevocably and forever
releases, discharges and holds harmless (i) GPSI, its current and former
parents, subsidiaries and other affiliated entities and (ii) each of their
respective current and former directors, officers, employees, agents, successors
and assigns (collectively, the “GPSI Parties”) from
any and all manner of Claims, which any Leisurecorp Party ever had, now has, may
hereafter have or claims to have against any or all of the GPSI Parties,
directly or indirectly, arising from or related to the 2007
Contract.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    (c) Each of
Leisurecorp and GPSI, on behalf of itself and the Leisurecorp Parties and GPSI
Parties, as applicable, acknowledges and recognizes that it may have some Claim
of which it is or they are totally unaware and unsuspecting, which it is, on
behalf of itself and them, surrendering as of the date hereof by execution of
this Agreement.  It is the express intention of each of Leisurecorp
and GPSI by the execution and delivery of this Agreement, that effective as of
the date hereof, each party shall release and deprive itself, on behalf of
itself and the Leisurecorp Parties and GPSI Parties, as applicable, of all
Claims with respect to the 2007 Contract and the right to make any such Claims
as of the date hereof and at any time hereafter.  The mutual release
provided for in this Section 1.2 is intended to be construed in the broadest
possible manner and shall be given effect and enforced to the fullest extent
permitted by applicable law.

     

    Section
1.3      Exceptions to Mutual
Release.  Notwithstanding any provision to the contrary
contained herein, neither GPSI nor Leisurecorp shall be deemed to be releasing
or discharging any Claim that either of them (or the Leisurecorp Parties or GPSI
Parties, as applicable) may hereafter have or claim to have against the other
parties arising from this Agreement.

     

    Section
1.4      Covenant Not to
Sue.  Each of GPSI and Leisurecorp, on behalf of itself and the
Leisurecorp Parties and GPSI Parties, as applicable, hereby agrees not to bring
any action or file any complaint or grievance of any kind or nature in or with
any judicial, administrative, or other tribunal, agency or instrumentality
alleging any Claim released and discharged under Section 1.2.

     

    ARTICLE
II

     

    GPS CART
SYSTEMS

     

    Section
2.1      GPS Cart
Systems.  In consideration of the termination of the 2007
Contract pursuant to Section 1.1, and the release and discharge granted pursuant
to Section 1.2(b), GPSI shall procure, deliver and install two 80 unit GPS cart
systems (the “GPS Cart
Systems”) for the Project no later than 1 July 2009, and take such other
actions and provide such other hardware, software and services, in all such
cases on and subject to the terms set forth in Exhibit A to this
Agreement.

     

    Section
2.2      GPS Cart Systems
Payment.  In consideration of the termination of the 2007
Contract pursuant to Section 1.1, and the release and discharge granted pursuant
to Section 1.2(a), Leisurecorp shall pay to GPSI, no later than one business day
after the date of this Agreement, an amount in cash equal to US$575,000, by wire
transfer of immediately available funds to such account as GPSI may
direct.

     

    ARTICLE
III

     

    MISCELLANEOUS

     

    Section
3.1      Notices.  All
notices, requests and other communications under this Agreement must be in
writing and will be deemed to have been duly given upon receipt to the parties
at the following addresses or facsimiles (or at such other address or facsimile
for a party as shall be specified by the notice):

     

    
      
        
        

      

      
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    If to
Leisurecorp or the Leisurecorp Parties:

     

    c/o
Leisurecorp LLC

    Emirates
Towers, Level 4

    Sheikh
Zayed Rod

    PO Box
17000

    Dubai,
United Arab Emirates

    Attention:
Osama Audi

    Fax: +971
4 367 9584

    

     

    If to
GPSI or the GPSI Parties:

     

    c/o GPS
Industries, Inc.

    5500-152nd
Street

    Suite
214

    Surrey

    BC,
Canada V3S 5JP

    Attention:
David Chessler

    Fax: +1
604 576 7460

    

    Section
3.2      Entire
Agreement.  This Agreement and the exhibit hereto supersede all
prior and contemporaneous discussions and agreements, both written and oral,
between the parties with respect to the subject matter of this Agreement and
constitute the sole and entire agreement between the parties to this Agreement
with respect to the subject matter of this Agreement.

     

    Section
3.3 Interpretation.

     

    (a) When a
reference is made in this Agreement to an Article or a Section, such reference
shall be to an Article or a Section of this Agreement unless otherwise
indicated.

     

    (b) The
headings contained in this Agreement are for reference purposes only and shall
not affect in any way the meaning or interpretation of this
Agreement.

     

    (c) The
parties have participated jointly in negotiating and drafting this
Agreement.  If an ambiguity or a question of intent or interpretation
arises, this Agreement shall be construed as if drafted jointly by the parties,
and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any provisions of this
Agreement.

     

    (d) The words
“include,” “includes” or “including” shall be deemed to be followed by the words
“without limitation.”

     

    (e) The words
“hereof,” “herein” and “hereunder” and words of similar import, when used in
this Agreement, refer to this Agreement as a whole and not to any particular
provision of this Agreement.

     

    (f) The
definitions contained in this Agreement are applicable to the singular as well
as the plural forms of such terms.

     

    (g) References
to a person are also to its permitted successors and assigns.

     

    
      
        
        

      

      
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    (h) The use
of “or” is not intended to be exclusive unless expressly indicated
otherwise.

     

    Section
3.4      Expenses.  Each
party will pay its own costs and expenses incurred in connection with the
negotiation and execution of this Agreement and performance of the transactions
contemplated by this Agreement.

     

    Section
3.5      Waiver.  Any
term or condition of this Agreement may be waived at any time by the party that
is entitled to the benefit thereof, but no such waiver shall be effective unless
set forth in a written instrument duly executed by or on behalf of the party
waiving such term or condition.  No waiver by any party of any term or
condition of this Agreement, in any one or more instances, shall be deemed to be
or construed as a waiver of the same or any other term or condition of this
Agreement on any future occasion.  All remedies, either under this
Agreement or by law or otherwise afforded, will be cumulative and not
alternative.

     

    Section
3.6      Amendment.  This
Agreement may be amended, supplemented or modified only by a written instrument
duly executed by or on behalf of each party to this Agreement.

     

    Section
3.7      No Third-Party
Beneficiary.  The terms and provisions of this Agreement are
intended solely for the benefit of each party hereto and their respective
successors or permitted assigns, and it is not the intention of the parties to
confer third-party beneficiary rights upon any other Person other than as set
forth in Section 1.2 above.

     

    Section
3.8      Assignment; Binding
Effect.  Neither this Agreement nor any right, interest or
obligation under this Agreement may be assigned by any party to this Agreement
by operation of law or otherwise without the prior written consent of the other
party to this Agreement and any attempt to do so will be
void.  Subject to the foregoing, this Agreement is binding upon,
inures to the benefit of and is enforceable by the parties to this Agreement and
their respective successors and assigns.

     

    Section
3.9      Invalid
Provisions.  If any provision of this Agreement is held to be
illegal, invalid or unenforceable under any present or future law, and if the
rights or obligations of any party hereto under this Agreement will not be
materially and adversely affected thereby, (a) such provision will be fully
severable, (b) this Agreement will be construed and enforced as if such illegal,
invalid or unenforceable provision had never comprised a part hereof, (c) the
remaining provisions of this Agreement will remain in full force and effect and
will not be affected by the illegal, invalid or unenforceable provision or by
its severance herefrom and (d) in lieu of such illegal, invalid or unenforceable
provision, there will be added automatically as a part of this Agreement a
legal, valid and enforceable provision as similar in terms to such illegal,
invalid or unenforceable provision as may be possible.

     

    Section
3.10    GOVERNING
LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS APPLICABLE IN THE EMIRATE OF DUBAI. 

     

    Section
3.11    Specific
Performance.  The parties hereto agree that if any of the
provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached, irreparable damage would occur, no
adequate remedy at law would exist and damages would be difficult to determine,
and that the parties shall be entitled to specific performance of the terms of
this Agreement, in addition to any other remedy at law or equity.

     

    Section
3.12    Counterparts.  This
Agreement may be executed and delivered in one or more counterparts and by the
different parties to this Agreement in separate counterparts, each of which when
executed shall be deemed to be an original but all of which taken together shall
constitute one and the same agreement.

     

    
      
        
        

      

      
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remainder of this page is intentionally left blank.]

     

     

     

     

     

     

    
      
        
        

      

      
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    IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be duly executed by their respective authorized
signatories thereunto duly authorized as of the date first written
above.

     

    
      
        
          
            
              
                
                  
                    	 	

                            LEISURECORP
      LLC

                          	 
	 	 	 	 
	 	      
                            By:
      

                          	 	 
	 	Name: 	 
	 	Title: 	 

                  

                

              

            

          

        

      

    

     

     

     

     

    
      
        
          
            
              
                
                  
                    	 	

                            LEISURECORP
      LLC

                          	 
	 	 	 	 
	 	      
                            By:
      

                          	 	 
	 	Name: 	 
	 	Title: 	 

                  

                

              

            

          

        

      

    

     

     

     

     

    
      
        
          
            
              
                
                  
                    	 	

                            GPS
      INDUSTRIES, INC.

                          	 
	 	 	 	 
	 	      
                            By:
      

                          	 	 
	 	Name: 	 
	 	Title: 	 

                  

                

              

            

          

        

      

    

    
       

       

       

      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
A

    

    GPS
CART SYSTEMS

    

    The
following items will be delivered by GPSI:

    

    Hardware:

    
      	
              ·  

            	
              165
      x HD/MAX cart-mounted GPS units - hybrid Wi-Fi and Digital Spread Spectrum
      GPS system units with built in GPRS capable SIM
  card

            

    

    
      	
              ·  

            	
              165
      x Cart mounting brackets

            

    

    
      	
              ·  

            	
              165
      x Cart power supplies

            

    

    
      	
              ·  

            	
              165
      x Protective covers

            

    

    
      	
              ·  

            	
              1 x
      Club house computer

            

    

    
      	
              ·  

            	
              1 x
      Colour scorecard printer

            

    

    
      	
              ·  

            	
              1 x
      Kitchen printer

            

    

    
      	
              ·  

            	
              1 x
      Indoor WiFi access points

            

    

    
      	
              ·  

            	
              1 x
      Outdoor WiFi access points

            

    

    

    

    Software:

    
      	
              ·  

            	
              Tournament
      Management Software

            

    

    
      	
              ·  

            	
              Inforemer
      Ad Manager - Tournament Specific
Advertising

            

    

    
      	
              ·  

            	
              Real-time
      Scoring/Leader board

            

    

    
      	
              ·  

            	
              Reports

            

    

    
      	
              ·  

            	
              36
      hole course flyovers

            

    

    

    

    Services

    
      	
              ·  

            	
              10
      year software license

            

    

    
      	
              ·  

            	
              Training
      - GPSI will carry out formal training sessions covering the
      following:

            

    

    
      	
              o  

            	
              Hardware
      maintenance and troubleshooting

            

    

    
      	
              o  

            	
              Software
      maintenance and troubleshooting

            

    

    
      	
              o  

            	
              Software
      reference data maintenance

            

    

    
      	
              o  

            	
              Reporting

            

    

    
      	
              ·  

            	
              1
      year hardware warranty, which
covers:

            

    

    
      	
              o  

            	
              All
      damage to GPSI-provided hardware, excluding damage through
      misuse

            

    

    
      	
              ·  

            	
              1
      year annual maintenance, which
covers:

            

    

    
      	
              o  

            	
              Correction
      of Malfunctions

            

    

    
      	
              o  

            	
              supply
      of available updates and access to GPSI telephone support services for the
      Administrator designated by the
Client

            

    

    
      	
              o  

            	
              The
      installation of new updates and corrections of malfunctions (carried out
      by the Client with the help of a CD-ROM sent by
  GPSI)

            

    

     

     

     

    2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]