Document:

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                                                                    Exhibit 4.22

                         MERCHANDISING LICENSE AGREEMENT

1.    Licensor            Ripley Entertainment Inc. ("Licensor")
                          5728 Major Boulevard
                          Suite 700
                          Orlando, Florida 32819
                          Attention: Mr. Norm Deska
                          Fax: (407) 345-0801

      Licensee:           Mikohn Gaming Corporation ("Licensee")
                          a Nevada corporation
                          1045 Palms Airport
                          Las Vegas, NV 89119
                          Attention: Olaf Vancura and Charles H. McCrea, Jr.
                          Phone: 800-336-8449 Fax: 702-263-1661

      Representative:     Signatures Network, Inc. ("Representative")
                          Two Bryant Street, Third Floor
                          San Francisco, CA 94105
                          Attention:  Music Licensing
                          Phone: (415) 247-7400; Fax: (415) 247-7407

2.    Property:           N/A

3.    Proprietary Subject Matter: Expressly subject to Paragraph 27.4 of the
            Agreement, the Proprietary Subject Matter shall mean:

            a) the following words and phrases, and any symbols, trademarks,
            copyrights, designs, characters, advertising artwork, logos, and
            visual representations relating thereto which are controlled by
            Licensor: "RIPLEY", "RIPLEY'S BELIEVE IT OR NOT!", and/or "BELIEVE
            IT OR NOT!"; and

            b) drawings, cartoons, files, photographs, and film footage owned or
            controlled by Licensor on the subject of extraordinary facts,
            subject to Licensor's approval as to the amount and nature of such
            material requested by Licensee, such approval not to be unreasonably
            withheld.

4.    Articles: [    ]

5.    Territory: The world ("Territory"), [    ]

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            [    ]

6.    Term: a) The Term shall commence on January 1, 2000 [    ]

            [    ]

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            [    ]

7.    Exclusivity: Exclusive license

8.    Royalty Rate:

            a) For each installed Article (i.e. placement of an Article on a
            casino customer's premises pursuant to a lease, revenue
            participation or similar agreement) Licensee shall pay Licensor the
            following fee:

                  [    ]

            (Unless otherwise indicated by the context, the foregoing license
            fees shall be collectively referred to herein as the "Royalty
            Rate").

9.    Advance:
                  [    ]

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            [    ]

10.   Guarantee:

            [    ]

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11.   Channels of Distribution: The sale of Articles to casino customers for use
           in legal gaming operations, and the placement of Articles on a casino
           customer's premises pursuant to a lease, revenue participation or
           similar agreement, for use in legal gaming operations ("Channels of
           Distribution").

12.   Earliest In-Store Date:  [    ] ("Earliest b-Store Date").

13.   Shipping Date:  [    ] ("Shipping Date").

14.   Copyright and Trademark Notices:

           Copyright: (C) [calendar year] Ripley Entertainment Inc. All rights
                      reserved.

           Trademark: [As directed by licensor]

15.   Approvals: As described in Paragraph 26 of the Agreement, all Articles and
           any related packaging and advertising must be approved by Licensor in
           writing before distribution or sale by Licensee. Specifically,
           Licensor shall have the right to approve (a) all artwork to be used
           on or in connection with the Articles, and (b) all relevant details
           concerning the game concept therefor (including but not limited to
           storyboards and video footage). Notwithstanding anything to the
           contrary set out in Paragraph 26 of the Agreement, Licensee and
           Licensor agree that prior to the commercial use of any Article,
           Licensor shall have the right to approve an initial production sample
           thereof at Licensee's place of business in Las Vegas, Nevada.

16.   Insurance Amount: US $1,000,000.00 per occurrence per year.

17.   Samples: Licensee shall have no obligation to provide Licensor with
           production samples of Articles, provided that, at Licensor's
           reasonable request and at Licensee's sole expense, Licensee will
           deliver an Article to those locations in the US specified by Licensor
           (subject to all applicable laws and regulations, and not more
           frequently than twice in any 12-month period) for Licensor's use as a
           sales and/or promotional tool for a reasonable length of time.

18.   Additional Terms: The attached Exhibit "A" (Standard Terms and Conditions)
           is incorporated herein by this reference.

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By signing below, Licensee affirms that it is in agreement with the foregoing
and that it has read and understands and agrees to be bound by Exhibit "A"
(Standard Terms and Conditions) attached hereto and forming a part hereof.
Licensee further agrees that this Agreement shall also serve as an invoice to
Licensee with respect to the amounts payable as set forth above and Licensee
agrees to pay such amounts to Licensor as and when specified above. This
Agreement shall not be binding upon Licensor until fully executed and delivered.

ACCEPTED AND AGREED TO:

RIP ENTERTAINMENT INC.                   MIKOHN GAMING CORPORATION

By: /s/ Robert E. Masterson              By: /s/ Charles H. McCrea, Jr.
   --------------------------------         --------------------------------

Print Name: Robert E. Masterson          Print Name: Charles H. McCrea, Jr.
           ------------------------                 ------------------------

Title:  President                        Title: Executive Vice President
      -----------------------------             and General Counsel
                                               -----------------------------

Date:  24 January 00                     Date:   January 7, 2000
     ------------------------------           ------------------------------

ACKNOWLEDGED BY REPRESENTATIVE: RIPLEY ENTERTAINMENT INC.

SIGNATURES NETWORK, INC.                 RIPLEY ENTERTAINMENT INC.

By: /s/ Dell Furano                      By: /s/ Norm Deslaa
   --------------------------------         --------------------------------

Print Name: Dell Furano                  Print Name: Norm Deslaa
           ------------------------                 ------------------------

Title:  President/CEO                    Title: Vice President
      -----------------------------            -----------------------------

Date:  1/25/00                           Date:   1/18/2000
     ------------------------------           ------------------------------

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                                    EXHIBIT "A"

                         MERCHANDISING LICENSE AGREEMENT

                          STANDARD TERMS AND CONDITIONS

      These Standard Terms and Conditions shall be deemed fully incorporated in
the Merchandising License Agreement ("Underlying Agreement") to which this
Exhibit "A" is attached, and these Standard Terms and Conditions and the
Underlying Agreement shall hereinafter be collectively referred to as the
"Agreement". All terms shall, unless expressly provided to the contrary herein,
have the same respective meanings as set forth in the Underlying Agreement.
Unless expressly provided to the contrary herein, to the extent that any
provision of these Standard Terms and Conditions conflicts with any provision of
the Underlying Agreement, the Underlying Agreement shall control.

19. FURTHER CONDITIONS ON GRANT OF RIGHTS.

      Licensor hereby grants to Licensee, and Licensee hereby accepts, the right
and license to utilize during the Term the Proprietary Subject Matter solely on
or in connection with the manufacture and sale of Articles in the Territory,
subject to the terms and conditions hereunder. Licensee shall be entitled to
sell Articles solely in the Channels of Distribution set forth in Paragraph 11
of the Underlying Agreement. The third sentence of paragraph 19 shall be deleted
in its entirety. Licensee agrees that it will not make or authorize any use,
direct or indirect, of the Articles outside the Territory or outside the
Channels of Distribution and that it will not intentionally sell Articles to
persons who intend or are likely to resell them outside the Territory or outside
the Channels of Distribution. For the avoidance of doubt, where the Territory
includes one or more Member States of the European Economic Area ("EEA") or
States which have concluded Free Trade Agreements with the European Union
("EU"), nothing in this Agreement shall prevent the Licensee from supplying from
time to time unsolicited orders for Licensed Products to purchasers in countries
outside the Territory which are Members of the EEA or States which have
concluded Free Trade Agreements with the EU, or prevent the Licensor from
permitting any other Licensee from supplying any such unsolicited orders for
goods in respect of which they are licensed, PROVIDED ALWAYS THAT the Licensee
shall not solicit orders for Licensed Products from purchasers in countries
outside the Territory or establish any branch or maintain any distribution depot
outside of the Territory.

20. CONSIDERATION.

      20.1 Licensee shall pay Licensor a non-refundable Advance against
Royalties in the amount(s) and at the time(s) specified in Paragraph 9. Licensee
shall be entitled to apply the Advance against Royalties due Licensor hereunder
during the Term.

      20.2. Licensee shall pay Licensor the Royalty Rate specified in Paragraph
            8. Other than as specified in Paragraph 8, no deductions shall be
            taken from any amounts due from Royalties or fees due Licensor
            including, without limitation, deductions for cash or other
            discounts or uncollectible accounts. No costs incurred in the
            manufacture, sale, distribution, or promotion of Articles shall be
            deducted from any Royalties payable to Licensor. Licensee shall pay,
            and hold Licensor forever harmless from, all taxes, customs, duties,
            levies, impost or any other charges now or hereafter imposed or
            based upon the manufacture, delivery, license, sale, possession or
            use hereunder to or by Licensee of the Articles (including, but not
            limited to sales, use, inventory, income and value added taxes on
            sales of Articles), which charges shall not be deducted from
            Licensor's Royalties, the Advance, or the Guarantee.

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      20.3 Paragraph 20.3 shall be deleted in its entirety.

      20.4 Paragraph 20.4 shall be deleted in its entirety and replaced with the
            following:

            If Articles are sold, Royalties hereunder shall accrue when such
            Article is sold, shipped, distributed, billed and/or paid for, which
            ever occurs first.

            In the event an Article is on a casino customer's premises pursuant
            to a lease, revenue participation or similar agreement, royalties
            shall accrue on a daily basis as of the date of such placement.

      20.5 If withholding taxes based on Licensor's direct net income taxes are
required, Licensee may deduct the required amount from Royalties prior to
remitting same to Licensor, provided Licensee provides Licensor with a copy of
such withholding tax payment prior to such deduction and provides Licensor with
the appropriate tax credit forms within sixty (60) days of payment of such
withholding tax and affords all necessary cooperation and support to Licensor in
order to get reimbursed and/or credited. In the event Licensee does not provide
the appropriate tax credit form within sixty (60) days of payment of withholding
taxes, Licensee shall be liable to and shall reimburse Licensor for the amounts
deducted from Royalties for withholding taxes in the immediately following
Royalty Report.

      20.6 Licensee shall pay Licensor a minimum Royalties Guarantee for the
Term, inclusive of the Advance, in the amount specified in Paragraph 10, payable
at the expiration or earlier termination of the Term, unless otherwise paid
earlier as an Advance.

21. ACCOUNTING; AUDITING.

      21.1 On the form attached hereto or on such other form as Licensor may
from time to time provide to Licensee, Licensee shall (i) render royalty reports
("Royalty Reports") to Licensor on a quarterly basis within thirty (30) days
after the close of each calendar quarter during the Term hereof, whether or not
any payment is shown to be due to Licensor thereunder, and (ii) remit payments
due Licensor, if any, along with such Royalty Reports. If the Territory covers
more than one country, Royalty Reports shall be prepared on a country-by-country
basis. Royalties may be computed in the currency of the country where earned and
paid to the Licensor in U.S. Dollars at the exchange rate received by Licensee
at the time of conversion. Licensee shall be solely responsible for all costs of
any currency conversion to U.S. Dollars, and such costs shall not reduce the
amounts due to Licensor hereunder. Acceptance of Royalties by Licensor shall not
preclude Licensor from questioning the correctness of same at any time. All
Royalties shall be made without set-off of any amount whatsoever, whether based
upon any claimed debt or liability of Licensor to Licensee. All Royalties and
Royalty Reports shall be sent to: Signatures Network, Inc., P.O. Box 191627, San
Francisco, CA 94105, Attn.: Accounting.

      21.2 Licensee shall keep and maintain accurate books of account and
records covering all

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transactions relating to this Agreement. Licensor or its designee shall be
entitled to (i) audit and inspect such books and records at any time or times
during or after the Term of the Agreement during reasonable business hours and
upon five (5) days prior written notice to Licensee, and (ii) make copies and
summaries of such books and records. All such books of account and records shall
be retained by Licensee for a minimum of three (3) years after expiration or
termination of this Agreement. If Licensor's duly authorized representative
discovers a deficiency in the Royalties paid to Licensor for any period under
audit (an "Audit Deficiency"), Licensee shall promptly pay such Audit Deficiency
to Licensor and, if such Audit Deficiency is three percent (3%) or more of the
Royalties paid to Licensor for such audit period, Licensee shall also reimburse
Licensor for all costs and expenses incurred by Licensor in connection with such
audit. In calculating costs for an internal auditor to perform such audit,
Licensor shall bill its personnel costs incurred in performing such audit on an
hourly basis at the hourly salaried rate of the personnel performing such
services multiplied by a factor of 1.75. If such Audit Deficiency is twenty
percent (20%) or more of the Royalties paid to Licensor for such audit period,
then in addition to the above, Licensor may, at its sole option, immediately
terminate the Agreement upon notice to Licensee, even if Licensee tenders the
Audit Deficiency and associated costs and expenses to Licensor.

      21.3 Without prejudice to any other rights of Licensor hereunder, time is
of the essence regarding all payments due hereunder and Licensee shall pay
interest on any Audit Deficiency, as well as on all delinquent Royalty payments
hereunder, at two percent plus the "prime rate" established by the Bank of
America in San Francisco, compounded annually at the rate from time to time in
effect and calculated from the date on which such payment was due.

22. EXCLUSIVITY.

      22.1 If, and only if, the Underlying Agreement specifies that Licensee's
license hereunder is exclusive, Licensor shall not, except as otherwise provided
herein, grant any other licenses effective during the Term for the use of the
Proprietary Subject Matter in connection with the manufacture, distribution and
sale in the Channels of Distribution in the Territory of the Articles as
expressly described in the Underlying Agreement. Notwithstanding the foregoing,
nothing in this Agreement shall be construed to prevent Licensor from granting
any licenses for the use of the Proprietary Subject Matter other than as
provided herein, or from utilizing the Proprietary Subject Matter in any manner
whatsoever other than as provided herein.

      22.2 If the Underlying Agreement specifies that Licensees license
hereunder is non-exclusive, then Licensor shall be free to utilize, or to grant
any license to third parties to utilize, the Proprietary Subject Matter in any
manner for any purposes whatsoever.

23. COPYRIGHT, TRADEMARKS, ETC.

      23.1 Licensee's use of the Proprietary Subject Matter shall inure
exclusively to the benefit of Licensor, and Licensee shall not acquire any
rights therein. Licensee recognizes the value of the goodwill associated with
the Proprietary Subject Matter, and that the Proprietary Subject Matter has
acquired secondary meaning in the mind of the public. Licensee agrees, during
the Term and thereafter, never to contest the rights of Licensor in such
Proprietary Subject Matter or the validity of the license herein granted to it.
Licensee shall not at any time apply for any registration of any copyright,
trademark, patent, or any other intellectual property right, whether recognized
currently or in the future, or other designation which would affect the
ownership or rights of Licensor in and to the Proprietary Subject Matter nor
file any document with any governmental authority or otherwise to take any
action which would adversely affect any of such ownership or rights in and to
the Proprietary Subject Matter, or assist anyone else in doing so.

      23.2 Ownership of all intellectual property rights, whether recognized
currently or in the future, including, without limitation, copyright, patent and
trademark rights, in the Articles and in all artwork, packaging, copy, literary
text, advertising material and promotion

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material of any sort utilizing the Proprietary Subject Matter, including all
such material developed by Licensee, shall vest in Licensor and title thereof
shall be in the name of Licensor, or its respective designees. All such items
and all Articles shall bear the copyright and trademark notices specified in
Paragraph 14 and any other legal notices which Licensor may from time to time
prescribe. Any and all additions to, and new renderings, modifications or
embellishments of the artwork shall, notwithstanding their invention, creation
and use by Licensee or its agents, be and remain the property of Licensor, and
Licensor may use, and License others to use the same, subject only to the
provisions of this Agreement. Licensee shall enter into written agreements with
all of its employees and independent contractors (i) providing that all artwork
and designs created by them in the course of Licensee's performance under this
Agreement shall be the property of Licensor either as works for hire under
United States copyright law or otherwise, and (ii) obligating them to assign all
rights in such artwork and designs to Licensor. Upon the request of licensor,
Licensee shall submit to Licensor for Licensor's approval copies of all such
agreements prior to use thereof. Licensee shall not permit any of its employees
or independent contractors to obtain or reserve, by written or oral agreement or
otherwise, any rights as "authors" or "inventors" of any such artwork or
designs (as such terms are used in present or future United States copyright
and/or patent statutes or judicial decisions). Licensee shall furnish to
Licensor at Licensor's request, full information concerning the invention and
creation of such artwork and designs, together with the originals of assignments
of all rights therein obtained from all such third parties to Licenser.

      23.3 Licensee shall assist Licensor, at Licensor's request and expense, in
the procurement and maintenance of Licensor's rights in the Proprietary Subject
Matter (including all intellectual property rights, whether recognized currently
or in the future). In connection therewith, Licensee shall, without limitation,
execute and deliver to Licensor in such form as it may reasonably request, all
instruments necessary to (i) effectuate copyright and trademark protection, (ii)
record Licensee as a registered user of any trademarks pursuant to this
Agreement, or (iii) cancel any such registration. Such registration shall be
handled by attorneys selected or approved by Licensor. Licensor makes no
warranty or representation that trademark or copyright protection shall be
secured in the Proprietary Subject Matter.

      23.4 Licensor and Licensee shall cooperate to ensure that third parties
may not unlawfully infringe on the Proprietary Subject Matter or engage in any
acts of unfair competition involving the Proprietary Subject Matter. Licensee
shall promptly notify the Licensor of any such infringements or acts of unfair
competition by third parties that comes to its attention. Licensor shall have
the exclusive right, exercisable at its discretion, to institute in its own name
and/or Licensee's name and to control, all actions against third parties
relating to Licensor's copyrights, trademarks, and other proprietary rights in
and to the Proprietary Subject Matter, at Licensor's expense. With respect to
any such actions, Licensor shall employ counsel of its own choice to direct the
handling of the litigation and any settlement thereof. Licensor shall be
entitled to receive and retain all amounts awarded, if any, as damages, profits
or otherwise in connection with such suits. Licensee shall not, without
Licensor's prior written consent, institute any suit or take any action on
account of such infringements, acts of unfair competition or unauthorized uses.
If, with Licensor's consent, Licensee institutes, at its sole cost and expense,
such a suit or action, Licensee shall be entitled to recover all reasonable
costs and expenses, incurred in such suit or action from any financial recovery
awarded or obtained and the remainder shall be treated as In the penultimate
sentence of Paragraph 23.4 hereunder, the words "Net Sales" shall be deleted and
replaced with the words "gross revenues" gross revenue hereunder. Licensor shall
incur no liability to Licensee by reason of Licensor's failure or refusal to
prosecute, or by Licensor's refusal to permit Licensee to prosecute, any alleged
infringement by third parties, nor by reason of any settlement to which Licensor
may agree.

      23.5 Licensor can withdraw any or all elements of the Proprietary Subject
Matter, or any component part thereof, from the terms of this Agreement if
Licensor determines that the exploitation therefor would or might violate or

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infringe the copyright, trademark or other proprietary rights of third parties,
or subject Licensor to any liability or violate any law, court order, government
regulation or other ruling of any governmental agency, or if, on account of the
expiration or sooner termination of an agreement between Licensor and a third
party from whom Licensor has obtained certain underlying rights relating to the
exploitation of the Proprietary Subject Matter hereunder or otherwise, Licensor
shall no longer have the right to act in the capacity herein contemplated on
behalf of any third party or parties, or if Licensor determines that it cannot
adequately protect its rights in the Proprietary Subject Matter under the
copyright, trademark or other laws of the Territory. Such a withdrawal shall not
be deemed a breach of this Agreement Within five (5) business days of such
withdrawal, Licensee shall, at Licensor's sole discretion, (a) destroy or (b)
deliver to Licensor at Licensor's expense, any Articles which are in Licensee's
inventory. Licensor shall indemnify Licensee for the direct production cost of
such destroyed or returned Articles; provided, however, that Licensee furnishes
Licensor with (i) a detailed inventory of such Articles, (ii) source
documentation supporting such direct production costs, and (iii) an affidavit of
destruction, if applicable, in a form acceptable to Licensor, evidencing the
same.

        23.6 Licensee shall not use Licensor's name, or the Proprietary Subject
Matter, other than as permitted hereunder and, in particular, shall not
incorporate Licensor's name, or the Proprietary Subject Matter, in the
Licensee's corporate or business name in any manner whatsoever. Licensee agrees
that in using the Proprietary Subject Matter it will in no way represent that it
has any rights, title and/or interest in or to the Proprietary Subject Matter
other than those expressly granted under the terms of this Agreement. Licensee
further agrees that it will not use or authorize the use, either during or after
the Term, of any configuration, trademark, trade name, or other designation
confusingly or substantially similar to Licensor's name or the Proprietary
Subject Matter, or any element thereof.

24. INDEMNIFICATION.

      24.1 Licensor shall indemnify, hold harmless and defend Licensee, and its
parents, subsidiaries, affiliates, officers, directors and employees, against
any claims, liabilities, demands, causes of action, judgments, settlements and
expenses (including, but not limited to, reasonable attorneys' fees and court
costs) arising solely out of Licensee's use of the Proprietary Subject Matter as
authorized hereunder; provided, however, that Licensee shall notify Licensor in
writing within ten (10) days after licensee receives notification of any claim
or suit relating to the Proprietary Subject Matter. Licensor shall undertake and
control the defense and settlement of any such claim or suit and Licensee shall
cooperate fully with Licensor in connection herewith. In no event shall Licensor
be liable for any consequential damages or loss of profits which Licensee may
suffer arising out of same. The foregoing indemnity shall not be construed to
cover any claim with respect to which Licensee has committed to indemnify
Licensor under Paragraph 24.2 below.

      24.2 During and after the Term hereof, Licensee shall indenmify and hold
harmless, licensor and Representative, and their respective parents,
subsidiaries, affiliates, officers, directors, representatives, employees and
agents, and all persons whose names and/or likenesses are licensed hereunder
(each, an "Indemnitee" and collectively "Indemnitees") from and against any and
all claims, liabilities, losses, demands, causes of action, judgments,
settlements and expenses (including, but not limited to, reasonable attorneys'
fees and court costs) ("Claim") arising out of or in connection with (i) the
design, manufacture, packaging, distribution, shipment, advertising, promotion,
sale, or exploitation of the Articles, (ii) alleged defects or deficiencies in
the Articles or the use thereof, the failure of the Articles to meet any
applicable laws or standards, or false advertising, fraud, misrepresentation or
other claims related to the Articles not involving a claim of right to the
Proprietary Subject Matter, (iii) any breach of any representation, warranty, or
covenant made by Licensee hereunder, or (iv) the failure of Licensee to perform
any of its covenants or obligations

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contained in this Agreement. Without limiting the generality of the foregoing,
Licensee's indemnity shall specifically apply to claims relating to or based
upon defects in the Articles or Collateral Materials, whether hidden or obvious,
and despite Licensor's approval of the Articles or Collateral Materials, it
being agreed that any governmental order of recall or injunction against
distribution and/or sale shall, as between Licensee and Licensor, be deemed
conclusive proof of such defect for purposes of invoking Licensee's indemnity
hereunder. The foregoing indemnity shall not be construed to cover any claim
with respect to which Licensor has committed to indemnify Licensee under
Paragraph 24.1 above. If any Claim is initiated against any Indemnitee with
respect to which such Indemnitee may make a claim against Licensee pursuant to
this Paragraph 24.2, then the Indemnitee shall give prompt written notice of
such Claim to the Licensee; provided, however, that the failure to so notify the
Licensee shall not relieve the Licensee from any liability under this Paragraph
24.2 unless, and only to the extent that, such failure results in prejudice to
or forfeiture of, substantive rights or defenses of the Licensee. Licensee, at
Licensee's own expense, shall have the option to assume the defense of such
Claim. If Licensee assumes the defense of such Claim, (i) Licensee shall keep
the Indemnitee informed of all material developments and events relating to such
Claim, (ii) the Indemnitee shall have the right to participate, at its own
expense, in the defense of such Claim (but such participation shall not be
deemed to give the indemnitee the right to control such defense), (iii) the
Indemnitee shall cooperate as reasonably requested by Licensee in the defense of
such Claim, and (iv) Licensee shall not settle such Claim without the prior
written consent of the Indemnitee, which consent shall not be unreasonably
withheld. If Licensee fails to assume the defense of such Claim, or fails to
diligently defend such Claim, Indemnitee may assume the defense of such Claim
and Licensee shall reimburse Indemnitee for all reasonable expenses (including
reasonable attorneys' fees which may include, without limitation, an allocation
for in-house counsel) as such expenses are incurred, relating to the defense of
such Claim.

25. INSURANCE.

      Licensee shall at all times while this Agreement is in effect and for
three (3) years thereafter, obtain and maintain at its own expense, from a
qualified insurance carrier with a Best rating of at least "B", insurance,
including, without limitation, products, personal injury, advertising, and
contractual liability coverage, which includes as additional insureds Licensor
and Representative, and their respective parents, subsidiaries, affiliates,
officers, directors, employees, representatives and agents. The amount of
coverage shall be not less than the amount specified in Paragraph 16 combined
single limit (with no deductible amount) for each single occurrence. The policy
shall provide for thirty (30) days written notice to Licensor and Representative
from the insurer by registered or certified mail, return receipt requested, in
the event of any modification, cancellation or termination. Upon execution of
this Agreement, Licensee shall furnish Licensor with a certificate of insurance
issued by the carrier evidencing the same. In no event shall Licensee
manufacture, advertise, distribute or sell any Articles prior to Licensor's
receipt of such certificate of insurance.

26. ARTWORK; APPROVALS; SAMPLES; QUAL1TY CONTROL.

      26.1 Licensee undertakes that the Articles as well as all packaging, hang
tags, labels, press releases, advertising, promotion display or other materials
of any and all types prepared in connection with the Articles (collectively the
"Collateral Materials") shall be of the highest standard and quality and shall
ensure that all Articles and the manufacture, distribution, sale, promotion and
advertisement thereof comply with all federal, state and local laws and
regulations. Licensee shall consult with Licensor and Representative on a
regular basis concerning the promotion and marketing of the Articles.

      26.2 At Licensee's request, Licensor, through Representative, shall supply
Licensee with image "thumbnails" embodying the Proprietary Subject Matter for
Licensee's preliminary use in developing the Articles. All

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other artwork requested by Licensee for the development and production of the
Articles or the Collateral Materials (including but not limited to photographs,
transparencies, designs, and materials) shall be subject to availability, and
shall be provided at Representative's standard licensee price therefor. (All of
the artwork supplied to Licensee by Licensor shall be collectively referred to
herein as "Artwork").

      26.3 Licensee shall submit to Licensor and Representative, and Licensor
shall have absolute approval over, all artwork (whether Artwork or artwork
created by Licensee and/or its designees), all Articles and all Collateral
Materials at all stages of development and production. Licensee may not
manufacture, use, offer for sale, sell, advertise, ship or distribute any
Articles or Collateral Materials without Licensor's prior written approval.
The third and fourth sentences of Paragraph 26.3 shall be deleted in their
entirety and replaced with the following: Licensee shall, at its own cost,
submit to Licensor and Representative for approval all Collateral Material
and/or one (1) drawing, storyboard or rough cut of each Article (collectively
"Preliminary Artwork"), as applicable. All such Preliminary Artwork shall be
sent to: Signatures Network, Inc., Two Bryant Street, San Francisco, CA 94105,
Attn.: Gladys Ng-Blumin. Prior to the commercial use of any Article, Licenser
shall have the right to approve a prototype ("Prototype") and/or initial
production sample thereof at Licensee's place of business in Las Vegas, Nevada.
Any submission of a Prototype and/or Preliminary Artwork which is not approved
in writing by Licensor shall be deemed disapproved. Any changes required by
Licensor to any such Prototypes and/or Preliminary Artwork which have been
disapproved by Licensor, shall be made by Licensee. Thereafter, Licensee shall
submit final samples of all Articles and Collateral Materials to Licensor,
through Representative, for final approval. With respect to all such samples
which have received Licensor's final approval, Licensee shall not depart
therefrom in any material respect, without Licensor's prior written approval.
All Articles and Collateral Materials not approved by Licensor shall be
destroyed or shall have the Proprietary Subject Matter removed. Such destruction
shall be attested to in a certificate signed by one of Licensee's officers.

      26.4 Paragraph 26.4 shall be deleted in its entirety.

      26.5 Licensee shall allow Licensor and/or Representative, or their
representative, to enter Licensee's premises and all manufacturing facilities
during regular business hours, upon three (3) business days notice, for the
purpose of inspecting the Articles, the Collateral Materials, and the facilities
in which they are manufactured and packaged. In the event that the quality
standards hereinabove referred to are not met, Licensee shall, upon written
notice from Licensor, through Representative, discontinue the manufacture and
distribution of such Articles and/or the Collateral Materials related thereto,
unless Licensee shall have remedied such failure of quality to Licensor's
satisfaction within ten (10) days after Licensee's receipt of notice thereof;
failure to effect such remedial measures shall entitle Licensor to terminate
this Agreement upon notice to Licensee.

      26.6 In the event Licensee utilizes photographs, artwork, or any other
copyrighted or trademarked materials ether than the Artwork ("Third Party
Artwork") on or in connection with Articles, then Licensee shall be solely
responsible for obtaining any and all consents, licenses and other permissions
which may be required for using such Third Party Artwork. Accordingly, Licensee

Signatures Contract No.: 191224                                   Execution Copy

                                      -13-
<PAGE>

acknowledges and agrees that Licensee's use of any Third Party Artwork is
subject to and conditioned upon Licensee, at Licensee's sole cost and expense,
obtaining any and all consents, licenses and other permissions which may be
required for using the Third Party Artwork, notwithstanding that Licensor,
through Representative, might have approved the Articles embodying or connected
with such Third Party Artwork pursuant to Paragraph 26.3.

      26.7 Licensee shall not knowingly sell Articles to persons or entities who
Licensee believes intend or are likely to repackage or reconfigure the Articles
and sell them as another kind of product at a higher price than what the
unaltered Articles themselves would normally sell for. For example, if the
Article is a poster and it is sold as an unframed, rolled poster, Licensee shall
not sell such Article to any person or entity who it knows is likely to sell the
poster as framed art or to reproduce the poster and sell it as a lithograph at
higher prices than what the poster itself would normally sell for.

27. RESERVED RIGHTS.

      27.1 Licensor reserves all rights not expressly granted to Licensee
hereunder.

      27.2 Licensor shall not be prevented from granting third parties the right
to use the Proprietary Subject Matter in any manner whatsoever, except as
otherwise provided herein.

      27.3 Paragraph 27.3 shall be deleted in its entirety.

      27.4 Licensee acknowledges that the license granted herein does not
include any right, title, or interest in or to the Proprietary Subject Matter,
nor to any intellectual property rights relating thereto, including, without
limitation, any copyrights, patents, and/or trademarks therein or associated
therewith. Furthermore, this Agreement relates solely to the Proprietary Subject
Matter. Licensee is not, by virtue of this Agreement, acquiring any right
whatsoever with respect to any motion picture or television production, home
video, publication, or other endeavor which is based upon, derivative of,
inspired by or otherwise related to the Proprietary Subject Matter ("Derivative
Properties"). In this connection, Licensee expressly acknowledges that its
license hereunder does not include the right to use photographs, designs,
materials, and artwork from Derivative Properties to the extent such materials
are different from the Proprietary Subject Matter. All right, title and interest
in and to the Derivative Properties is retained by Licensor.

28. MANUFACTURE AND DISTRIBUTION.

        28.1 The Proprietary Subject Matter may only be used in connection with
the manufacture, actual packaging and advertising, promotion and distribution of
the Articles.

        28.2 Licensee shall be entitled to sublicense the right to manufacture
Articles to any third party ("Supplier"), in whole or in part, with Licensor's
prior written consent. Licensee represents and warrants that it shall
familiarize each such Supplier with the terms and conditions of this Agreement
as they apply to such Supplier. In addition, Licensee acknowledges and agrees
that Licensee's use of any such Supplier shall in no way derogate from or
relieve Licensee of any of its obligations under this Agreement. Licensee
further acknowledges and agrees that it shall be responsible and primarily
liable for all activities and obligations of all such Suppliers with respect to
the Articles. Furthermore, if Licensor so requests,

Signatures Contract No.: 191224                                   Execution Copy

                                      -14-
<PAGE>

Licensee shall cause each such Supplier to sign an agreement with Licensee for
the manufacture of the Articles, in whole or in part, in a form satisfactory to
licensor.

      28.3 Without the prior written consent of Licensor, Licensee shall not
commence distribution, shipment, and sale of Articles prior to the Earliest
In-Store Date specified in Paragraph 12. Licensee acknowledges that it
shall be responsible for assuring that no Articles will be displayed to the
general public, either by Licensee or by anyone else, or available for consumer
purchase prior to the Earliest In-Store Date, and Licensee agrees that it shall
be liable to Licensor for any damages which occur due to earlier display or
availability of Articles. In the event that any of the Articles are
displayed or available prior to Earliest In-Store Date, Licensor may, in its
absolute discretion, require that Licensee recall such Articles, and Licensee
shall be responsible for accomplishing such recall and shall bear all costs and
expenses relating thereto.

      28.4 Licensee shall commence distribution, shipment and sale of
substantial quantities of Articles no later than the Shipping Date specified in
Paragraph 13.

      28.5 During the Term, and subject to the terms and conditions hereof,
Licensee shall (i) continue to diligently and continuously advertise, promote,
distribute, ship and sell the Articles in the Territory, and (ii) use its best
efforts to make and maintain adequate arrangements for the distribution,
shipment and sale necessary to meet the demand for such Articles in the
Territory.

      28.6 Paragraphs 28.6 and 28.8 shall be deleted in their entirety.

      28.7 The Proprietary Subject Matter shall not be used in conjunction with
any other licensed name, character, symbol, design, likeness or literary or
artistic material, except that actual representations of an Article and its
packaging may be shown in advertising showing other articles sold by Licensee,
provided such use is not made a manner that may be ikely to cause doubt or
confusion in the minds of the public as to the ownership of the Proprietary
Subject Matter, and in no event may the Articles be packaged for sale with other
articles.

      28.8 Paragraphs 28.6 and 28.8 shall be deleted in their entirety.

29. REPRESENIATIONS AND WARRANTIES.

      29.1 Licensor represents and warrants to Licensee as follows: (i) Licensor
owns or controls all rights in and to the Proprietary Subject Matter; (ii)
Licensor has the full right, authority and power to enter into this Agreement
and to perform all its obligations hereunder; and (iii) Representative has the
authority on behalf of Licensor to grant the rights being granted herein.
Licensor makes no representation or warranty as to the amount of receipts
Licensee will derive or as to the quality or success of the Proprietary Subject
Matter or any commercial endeavors related thereto. Furthermore, Licensor does
not represent or warrant that the Proprietary Subject Matter will appear or
continue to appear in or as a part of any publications program, motion
picture/television series or other work or that any such work will continue to
be exploited.

      29.2 Licensee represents and warrants to Licensor as follows: (i) Licensee
has full power and authority to enter into this Agreement and perform its
obligations herein; and (ii) Licensee's execution, delivery, and performance of
this Agreement will not infringe upon the rights of any third party or violate
the provisions of any agreement to which

Signatures Contract No.: 191224                                   Execution Copy

                                      -15-
<PAGE>

Licensee is a party.

30. TERMINATION.

      30.1 In addition to any and all other remedies available to it hereunder,
Licensor shall have the right to immediately terminate this Agreement upon
written notice to Licensee upon the occurrence of any of the following:

            30.1.1 Licensee makes, sells, offers for sale, uses or distributes
any Article without having the prior written approval of Licensor as specified
in Paragraph 26.3 or continues to make, sell, offer for sale, use or distribute
any Article after receipt of notice from Licensor withdrawing approval of same.

            30.1.2 Licensee becomes subject to any voluntary or involuntary
order of any government agency involving the recall of any of the Articles
because of safety, health or other hazards or risks to the public.

      30.2 In addition to any and all other remedies available to it hereunder,
on seven (7) days prior written notice to Licensee, Licensor may terminate this
Agreement (in which case such termination shall be effective immediately upon
expiration of the seven (7) day notice period), upon the occurrence of any of
the following circumstances, provided that during such seven (7) day period,
Licensee fails to cure the breach to Licensor's satisfaction:

            30.2.1 Licensee fails to immediately discontinue the advertising,
distribution or sale of Articles which do not contain the appropriate legal
legend or notice.

            30.2.2 Licensee breaches any of the provisions of this Agreement
relating to the unauthorized assertion of rights in the Proprietary Subject
Matter.

            30.2.3 Licensee fails to make timely payment of Royalties when due
or fails to make timely submission of Royalty Reports when due. However, in the
event Licensee has previously been given notification and time to cure a prior
breach relating to Licensee's failure to remit a Royalty payment (including
Advances or Guarantees) and/or Royalty Report when due, then Licensor may
terminate this Agreement immediately upon notice to Licensee and no further time
to cure need be given to Licensee by Licensor regardless of whether or not
Licensee cured any prior failure or breach.

            30.2.4 Licensee intentionally sells or authorizes the sales of
Articles outside the Territory or outside the Channels of Distribution, or sells
the Articles to persons who intend or are likely to resell them outside the
Territory or outside the Channels of Distribution.

      30.3 In addition to any and all other remedies available to it hereunder,
on thirty (30) days prior written notice to Licensee, Licensor may terminate
this Agreement (in which case such termination shall be effective immediately
upon expiration of the thirty (30) day notice period), upon the occurrence of
any of the following circumstances, provided that during such thirty (30) day
period, Licensee fails to cure the breach to Licensor's satisfaction:

            30.3.1 Licensee fails to obtain or maintain insurance as required
under Paragraph 25 hereof.

            30.3.2 During any calendar quarter of the Term, if Licensee fails to
reasonably satisfy Paragraphs 28.4 or 28.5, Licensor may terminate this
Agreement as to such Article(s) in any country in the Territory or in whole, by
written notice to Licensee.

            30.3.3 licensee fails to timely submit Prototype and/or Preliminary
Artwork for approval by Licensor as provided in Paragraph 26.3.

            30.3.4 A petition in bankruptcy is filed by or against Licensee;
Licensee is adjudicated bankrupt or insolvent, or makes an assignment for the
benefit of creditors or an arrangement pursuant to any bankruptcy law; Licensee
discontinues its business; or a receiver is appointed for Licensee or Licensee's
business and such receiver is not discharged within thirty (30) days.

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                                      -16-
<PAGE>

            30.3.5 Licensee or any of its controlling shareholders, officers,
directors or employees take any actions in connection with the manufacture,
sale, distribution or advertising of the Articles which damages or reflects
adversely upon the licenser and/or the Proprietary Subject Matter.

            30.3.6 Licensee violates any of its other obligations or breaches
any of its covenants, agreements, representations or warranties hereunder.

31. EFFECT OF TERMINATION.

      31.1 On expiration or termination of this Agreement, all Royalties
(including unpaid portions of the Guarantee, if any) shall be immediately due
and payable without set-off of any kind and no Advance or Guarantee paid to
Licensor shall be refunded to licensee. Termination of this Agreement, or any
portions thereof, by Licensor pursuant to Paragraph 30 shall in no way reduce,
proportionally or otherwise, the Guarantee required to be paid to Licensor
hereunder. Ninety (90) days before the expiration of the Term, and the event
of its sooner termination, ten (10) business days after receipt of notice of
termination, a statement showing the number and description of Articles on hand
or in process shall be furnished by Licensee to Licensor. Licensor shall have
the right to take a physical inventory to ascertain or verify such inventory and
statement. Refusal by Licensee to submit to such physical inventory by Licensor
and/or failure by Licensee to render the final statement as and when required by
this provision, shall result in a forfeiture by Licensee of Licensee's right to
dispose of its inventory (as provided by Paragraph 31.2 hereof), Licensor
retaining all other legal and equitable rights Licensor may have in the
circumstances.

      31.2 On expiration of this Agreement only (as compared to an early
termination pursuant to Paragraph 30), Licensee shall have a period of ninety
(90) days commencing with the expiration date, in which to sell-off (on a
non-exclusive basis) Articles which are on hand or in process as of the
expiration date; provided, however: (i) Licensee complies with all the terms and
conditions of this Agreement, including, but not limited to, Licensee's
obligation to pay Royalties on and to account to Licensor for such sales (such
accounting to be provided to Licensor within fifteen (15) days after the
expiration of the sell-off period); (ii) Licensee has not manufactured Articles
solely or principally for sale during the sell-off period; and (iii) Licensee
has given Licensor the opportunity to purchase such Articles at Licensee's cost
of manufacture thereof, which purchase may be of some or all such units, in
Licensor's sole discretion. Royalties earned during the sell-off period may not
be applied to any Guarantee shortfall. Licensee shall not be authorized to
dispose of the excess inventory in the sell-off period to the extent that it
exceeds ten percent (10%) of the total number of Articles sold during the Term,
without Licensor's prior written consent. During the sell-off period, Licensor
may use or license the use of the Proprietary Subject Matter in any manner, at
any time, anywhere in the world.

      31.3 On expiration or termination of this Agreement, except as noted in
Paragraph 31.2 above, Licensee shall have no further right to exercise the
rights licensed hereunder or otherwise acquired in relation to this Agreement
and such rights shall forthwith revert to Licensor. All Artwork and other
materials supplied to Licensee by Licensor hereunder shall be immediately
returned to Licensor at Licensee's expense. All remaining Articles and component
parts thereof shall be destroyed within five (5) business days. Licensee shall
within five (5) business days after such destruction deliver to Licensor a
certificate of destruction evidencing same. Licensee agrees that (i) its failure
to cease the manufacture, sale and/or distribution of Articles upon the
expiration or termination of this Agreement will result in immediate and
irreparable damage to Licensor, (ii) there is no adequate remedy at law for such
failure and (iii) in the event of such failure, Licensor shall be entitled to
injunctive relief.

      31.4 Upon expiration or termination of this Agreement, (i) if the
Underlying Agreement specifies that the license granted hereunder is an
exclusive license, Licensor shall be free to license others to use the
Proprietary Subject Matter in connection with the manufacture, sale,
distribution

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                                      -17-
<PAGE>

and promotion of the Articles in the Territory (it being acknowledged that
Licensor has the full and complete right so to do during the Term if the license
granted is a non-exclusive License), and (ii) Licensee shall refrain from
further use of the Proprietary Subject Matter or any further reference, direct
or indirect, thereto or to anything deemed by Licensor to be similar to the
Proprietary Subject Matter, in connection with the manufacture, sale,
distribution or promotion of Licensee's products except as permitted in
Paragraph 31.2 above. It shall not be a violation of any right of Licensee if
Licensor should at any time during the Term enter into negotiations with another
to license use of the Proprietary Subject Matter in respect to the Articles
within the Territory provided that, in the event that the license granted to
Licensee hereunder is an exclusive license, it is contemplated that such
prospective license shall commence after termination of the Agreement.

32. NOTICES.

      All notices, demands, contracts or waivers hereunder shall be given in
writing by mail, messenger, overnight air courier or telefax addressed as
indicated in the Underlying Agreement or as otherwise indicated in writing by a
party hereto. The date of messengering or telefaxing shall be deemed to be the
date of service. Three (3) business days from the date of mailing shall be
deemed to be the date of service for mailed notices. One (1) business day from
the date of overnight air courier handling shall be deemed to be the date of
service for courier handled notices.

33. NO MODIFICATION; WAIVER.

      The terms of this Agreement shall not be modified except by an agreement
in writing signed by both parties hereto. No waiver by either party of a breach
or default hereunder shall be deemed a waiver by such party of a subsequent
breach or default of a like or similar nature.

34. ENTIRE AGREEMENT

      This Agreement shall constitute the entire understanding of the parties
with respect to the subject matter, superseding all prior and contemporaneous
promises, agreements and understandings, whether written or oral pertaining
thereto.

35. RELATIONSHIP OF THE PARTIES.

      This Agreement does not appoint either party as the agent of the other
party, or create a partnership or joint venture between the parties.

36. GOVERNING LAW.

      This Agreement shall be construed and interpreted pursuant to the laws of
the State of Florida, and the parties hereto submit and consent to the
jurisdiction of the courts of the State of Florida, including Federal Courts
located therein, should Federal jurisdiction requirements exist, in any action
brought to enforce (or otherwise relating to) this Agreement. Notwithstanding
the preceding sentence, nothing contained in this Agreement shall preclude
Licensor from bringing an action in any appropriate forum to enforce the terms
and provisions of this Agreement. Licensee hereby consents to the exclusive
jurisdiction of any State or Federal court empowered to enforce this Agreement
in the State of Florida, Orange County, and waives any objection thereto on the
basis of personal jurisdiction or venue.

37. SEVERABILITY.

      If any provision of this Agreement is held by a court of competent
jurisdiction to be unenforceable, such decision shall not affect the validity or
enforceability of any of the remaining provisions, which remaining provisions
shall continue to have full force and effect.

38. CONFIDENTIALITY.

      Other than as may be required by any applicable law, government order or
regulation, or by order or decree of any court of competent jurisdiction,
Licensee shall not publicly divulge or announce, or in any manner disclose to
any third party, any information or matters revealed to Licensee pursuant
hereto, or any of the specific terms and conditions (induding but not limited to

Signatures Contract No.: 191224                                   Execution Copy

                                      -18-
<PAGE>

Royalty Rates, Advances, Guarantees In Paragraph 38, the words "and Net Sales of
Articles" shall be deleted. For the avoidance of doubt, after this Agreement is
fully executed, nothing in Paragraph 38 shall be construed to prohibit Licensee
from disclosing to the public the fact that Licensee has been granted the right
to manufacture and market Articles.

Initials:     [INITIALS ILLEGIBLE]            [INITIALS ILLEGIBLE]
              --------------------            --------------------
                    Licensor                       Licensee

of this Agreement.

39. COUNTERPARTS.

      This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original and all of which together shall be
deemed to be one and the same Agreement.

40. FURTHER ASSURANCES.

      The parties hereto shall execute such further documents and perform such
further acts as may be necessary to comply with the terms of this Agreement and
consummate the transactions herein provided.

41. ATTORNEYS' FEES.

      If any legal action or any other proceeding is brought for the enforcement
of this Agreement, or if a dispute arises under this Agreement, the successful
or prevailing party shall be entitled to recover reasonable attorneys' fees and
other costs incurred in that action or proceeding, in addition to any other
relief to which it may be entitled.

42. HEADINGS.

      The headings contained in this Agreement are for convenience and reference
purposes only. They do not form a part hereof and shall not affect the meaning
or interpretation of this Agreement.

43. ADMINISTRATION.

      Licensee expressly acknowledges that Representative is authorized to
administer this Agreement on behalf of Licensor, and in connection therewith to
exercise such rights and powers as Licensor may exercise with respect to the
enforcement and administration of this Agreement. Such rights and powers
include, without limitation, monitoring and overseeing Licensee's obligations
under this Agreement to ensure that all Advances, Guarantees, Royalties, Royalty
Reports, and the like are timely submitted, and to ensure that the quality
control provisions of this Agreement are being complied with by Licensee.
Furthermore, Licensee acknowledges and agrees that any administrative matters
relating to this Agreement shall be submitted by Licensee to Representative,
rather than directly to Licensor. The provisions of this Paragraph 43 shall
apply until Licensee receives notice of the revocation thereof from Licensor.

44. ASSIGNMENT.

      Licensee's rights and obligations hereunder are personal to Licensee and
shall not be assigned to any affiliate of Licensee (including, without
limitation, subsidiary and parent companies, and partnerships, joint ventures
and the like, in which Licensee has an interest.) Licensee's rights and
obligations hereunder shall not be sublicensed, assigned, mortgaged or otherwise
transferred or encumbered by Licensee or by operation of law unless otherwise
previously agreed in writing by Licensor. Licensor reserves the right to assign
this Agreement to any third party and to hypothecate or pledge this Agreement as
collateral for any purpose. In the event of any such assignment, Licensee shall
pay the Royalties and the Guarantee due hereunder as directed by Licensor. This
Agreement shall be binding upon and shall inure to the benefit of the successors
and assigns of Licensor.

45. EOUITABLE REMEDIES.

      Licensee acknowledges that its failure to perform any of the material
terms or conditions of this Agreement shall result in immediate and irreparable
damage to Licensor. Licensee also acknowledges that there may be no adequate
remedy at law for such failures and that in the event thereof, Licensor shall be
entitled to equitable relief in the nature of an injunction and to all other
available relief, at law or in equity.

END OF STANDARD TERMS AND CONDITIONS.

Signatures Contract No.: 191224                                   Execution Copy

                                      -19-
<PAGE>

                               RIDER TO AGREEMENT

This Rider is hereby incorporated into and made a part of that certain
Merchandising License Agreement ("Agreement") effective as of January 25, 2000
between Ripley Entertainment, Inc. ("Licensor") and Mikohn Gaming Corporation
("Licensee") in connection with the Proprietary Subject Matter.

1. DEFINED TERMS.

      All capitalized terms in this Rider shall, unless expressly provided to
the contrary, have the same respective meanings as set forth in the Agreement.

2. GRANT OF RIGHTS.

      The third sentence of paragraph 19 shall be deleted in its entirety.

3. CONSIDERATION.

      a) Paragraph 20.2 shall be deleted in its entirety and replaced with the
following:

            Licensee shall pay Licensor the Royalty Rate specified in Paragraph
            8. Other than as specified in Paragraph 8, no deductions shall be
            taken from any amounts due from Royalties or fees due Licensor
            including, without limitation, deductions for cash or other
            discounts or uncollectible accounts. No costs incurred in the
            manufacture, sale, distribution, or promotion of Articles shall be
            deducted from any Royalties payable to Licensor. Licensee shall pay,
            and hold Licensor forever harmless from, all taxes, customs, duties,
            levies, impost or any other charges now or hereafter imposed or
            based upon the manufacture, delivery, license, sale, possession or
            use hereunder to or by Licensee of the Articles (including, but not
            limited to sales, use, inventory, income and value added taxes on
            sales of Articles), which charges shall not be deducted from
            Licensor's Royalties, the Advance, or the Guarantee.

      b) Paragraph 20.3 shall be deleted in its entirety.

      c) Paragraph 20.4 shall be deleted in its entirety and replaced with the
following:

            If Articles are sold, Royalties hereunder shall accrue when such
            Article is sold, shipped, distributed, billed and/or paid for, which
            ever occurs first.

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                                      -20-
<PAGE>

            In the event an Article is on a casino customer's premises pursuant
            to a lease, revenue participation or similar agreement, royalties
            shall accrue on a daily basis as of the date of such placement.

4. COPYRIGHT, TRADEMARKS, ETC.

      a) In the penultimate sentence of Paragraph 23.4 hereunder, the words "Net
Sales" shall be deleted and replaced with the words "gross revenues".

      b) Notwithstanding anything to the contrary set out in the Agreement, as
between Licensor and Licensee, Licensor's ownership of any intellectual property
rights relating to the content of the Articles shall be limited to the
Proprietary Subject Matter used therein.

5. ARTWORK; APPROVALS; SAMPLES; OUALITY CONTROL.

      a) The third and fourth sentences of Paragraph 26.3 shall be deleted in
their entirety and replaced with the following:

            Licensee shall, at its own cost, submit to Licensor and
            Representative for approval all Collateral Material and/or one (1)
            drawing, storyboard or rough cut of each Article (collectively
            "Preliminary Artwork"), as applicable. All such Preliminary Artwork
            shall be sent to: Signatures Network, Inc., Two Bryant Street, San
            Francisco, CA 94105, Attn.: Gladys Ng-Blumin. Prior to the
            commercial use of any Article, Licensor shall have the right to
            approve a prototype ("Prototype") and/or initial production sample
            thereof at Licensee's place of business in Las Vegas, Nevada.

      b) Paragraph 26.4 shall be deleted in its entirety.

6. RESERVED RIGHTS.

      Paragraph 27.3 shall be deleted in its entirety.

7. MANUFACTURE AND DISTRIBUTION.

      Paragraphs 28.6 and 28.8 shall be deleted in their entirety.

Signatures Contract No.: 191224                                   Execution Copy

                                      -21-
<PAGE>

8. CONFIDENTIALITY.

      In Paragraph 38, the words "and Net Sales of Articles" shall be deleted.
For the avoidance of doubt, after this Agreement is fully executed, nothing in
Paragraph 38 shall be construed to prohibit Licensee from disclosing to the
public the fact that Licensee has been granted the right to manufacture and
market Articles.

Initials:     /s/                             /s/
              --------------------            --------------------
                    Licensor                          Licensee

Signatures Contract No.: 191224                                   Execution Copy

                                      -22-<PAGE>

                                                                    EXHIBIT 4.23

               Master Development and Purchase Agreement Between
        Harrah's Operating Company, Inc. and Mikohn Gaming Corporation

     This Master Development and Purchase Agreement (the "Master Agreement")
between Harrah's Operating Company, Inc., a Delaware corporation ("HOC") and
Mikohn Gaming Corporation, a Nevada corporation ("MIKN"), is entered into as of
April 27, 1998 (the "Effective Date").

                                   Recitals

     A. HOC is owner of all rights, title and interest in and to certain
intellectual property rights related to a patented system for the tracking of
players and management of information in connection with live table gaming,
known as "Total Track", bearing U.S. patent number 5,613,912, and a related
patent application, software, documentation and specifications.

     B. HOC and MIKN desire that MIKN assist HOC in the completion of the
development of certain hardware and software for Total Track and that MIKN
develop related computer and network systems for the tracking of players and
management of information in connection with live table gaming, which integrate
Total Track with MIKN's proprietary "SafeTrack" system and integrate Total Track
with MIKN's proprietary "SafeJack" system.

     C. Upon completion of MIKN's development efforts, MIKN desires to sell and
HOC desires to purchase from MIKN Total Track, the integrated Total
Track/SafeTrack system, the integrated Total Track/SafeJack System, and various
maintenance and other related services accompanying such products.

     D. Contemporaneously with this Master Agreement, the parties are entering
into (i) an Intellectual Property License Agreement which is attached hereto in
Exhibit A and which grants MIKN, among other things, a license to use certain
intellectual property rights owned by HOC relating to Total Track , and (ii) a
Registration Rights Agreement which is attached hereto in Exhibit C and which
governs certain obligations of MIKN and rights of HOC with respect to
registration of MIKN common shares with the Securities Exchange Commission.

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

1.   DEFINITIONS

     1.1 "Additional License Fee" shall have the definition provided in Section
          ----------------------
8.1.2.

     1.2 "Additional Components" means the additions to the Base TT System
          ---------------------
described in Section 2.3.

     1.3 "Affiliate" means any person or entity Controlling, Controlled by or
          ---------
under common Control with, directly or indirectly, another person or entity. For
purposes of this

<PAGE>

definition, "Control" means the power to direct the management or affairs of a
person or entity by voting securities, membership interests or similar
interests, by contract or otherwise.

     1.4  "Arbitrable Matters" shall have the definition provided in Section 11.
           ------------------

     1.5  "Base TT System" means the system of computer and network software and
           --------------
hardware for the tracking of players and management of information in connection
with live table gaming as known as "Total Track" as delivered by HOC to MIKN on
or about the Closing Date, the components of which are listed on the attached
Exhibit K.

     1.6  "Base TT System Table" means a live gaming table connected to the Base
           --------------------
TT System.

     1.7  "Base TT System Technology" means all designs, algorithms, procedures,
           -------------------------
know how, software, schematics, specifications, prototypes, and other tangible
embodiments of technology relating to the design, development, use, installation
and testing of the Base TT System owned or licensable by HOC as of the Closing
Date.

     1.8  "Bonus License Fee" shall have the definition provided in Section
           -----------------
8.1.3.

     1.9  "Closing Date" means the date upon which this Master Agreement, the
           ------------
License Agreement, and the Registration Rights Agreement have been executed by
both HOC and MIKN.

     1.10 "Common Stock Event" shall have the definition provided in Section
           ------------------
8.1.4.

     1.11 "Confidential Information" means, with respect to either party, this
           ------------------------
Master Agreement, the License Agreement, the Registration Rights Agreement, the
Service and Maintenance Agreements and any confidential business and technical
information, whether or not patentable or copyrightable, that the disclosing
party identifies as confidential or proprietary at the time it is disclosed or
delivered to the receiving party or which the receiving party has reason to know
the disclosing party would like to keep confidential for business reasons, such
as maintenance of a competitive advantage or protection of intellectual property
rights. Confidential Information will not include any information that was
rightfully known to the receiving party before the receiving party's access to
such information hereunder, or that the receiving party rightfully receives from
a third party not under obligation of confidentiality, or that is or becomes
publicly known or available other than as a result of a breach of this Master
Agreement.

     1.12 "Deficiencies" shall have the definition provided in Sections 2.2.1
           ------------
and 2.4.

     1.13 "Event of Default of MIKN" shall have the definition provided in
           ------------------------
Section 10.2.

     1.14 "Event of Default of HOC" shall have the definition provided in
           -----------------------
Section 10.4.

     1.15 "Final TT Specifications" means the functional design specifications
           -----------------------
for the hardware and software components of the TT System, including the
Preliminary TT

                                       2
<PAGE>

Specifications and such changes or additions to these specifications created to
specify the Additional Components and such other changes or additions to which
the parties may agree pursuant to Section 2.1 below.

     1.16 "First AC Deficiency Correction Period" shall have the definition
           -------------------------------------
provided in Section 2.4.

     1.17 "First TT Deficiency Correction Period" shall have the definition
           -------------------------------------
provided in Section 2.2.2.

     1.18 "HOC Properties" refers to casino properties owned, managed or
           --------------
franchised by HOC or its Affiliates.

     1.19 "Initial License Fee" shall have the definition provided in Section
           -------------------
8.1.

     1.20 "Initial Market Price" shall be computed by taking the average of the
           --------------------
high and low price of MIKN Shares on the NASDAQ National Market System on the
last trading day prior to the Closing Date.

     1.21 "Initial Twelve Month Period" shall have the definition provided in
           ---------------------------
Section 7.1.3.

     1.22 "License Agreement" means the license agreement attached hereto in
           -----------------
Exhibit A to be executed by HOC and MIKN contemporaneously with this Agreement.

     1.23 "License Fees" means, collectively, the fees set out in Section 8.
           ------------

     1.24 "Licensed Patents" shall have the definition provided in Section 1.5
           ----------------
of the License Agreement.

     1.25 "Service and Maintenance Agreements" means any agreement between an
           ----------------------------------
HOC Property and MIKN entered into pursuant to Sections 4.3 and 4.4 below with
respect to the service and maintenance of the Base TT System, TT System, TT/ST
System and/or TT/SJ System.

     1.26 "Mikohn Shares" means the common stock of Mikohn Gaming Corporation, a
           -------------
corporation existing under the laws of Nevada, having a par value of $0.10 each,
each of which is, or shall be when transferred to HOC, validly issued, fully
paid and non-assessable and which common stock is listed for open market trading
on the NASDAQ National Market System.

     1.27 "Minimum" shall have the definition provided in Section 6.1.
           -------

     1.28 "Minimum Date" shall have the definition provided in Section 6.1.
           ------------

     1.29 "Preliminary TT Specifications" means the functional design
           -----------------------------
specifications for the hardware and software components of the Base TT System,
which are attached hereto as Exhibit F.

     1.30 "Registration Rights Agreement" means the registration rights
           -----------------------------
agreement attached

                                       3
<PAGE>

hereto in Exhibit C to be executed by HOC and MIKN contemporaneously with this
Agreement.

     1.31 "SafeJack System" means MIKN's hardware and software product known as
           ---------------
"SafeJack".

     1.32 "SafeTrack System" means MIKN's hardware and software product known as
           ----------------
"SafeTrack," which enables the tracking of actual bets of players using chips at
live gaming tables.

     1.33 "Second AC Deficiency Correction Period" shall have the definition
           --------------------------------------
provided in Section 2.4.

     1.34 "Second TT Deficiency Correction Period" shall have the definition
           --------------------------------------
provided in Section 2.2.1.

     1.35 "Service and Maintenance Agreement" means the form of service and
           ---------------------------------
maintenance agreement attached in Exhibit E hereto, pursuant to which MIKN will
render service and maintenance with respect to the Base TT System, the TT
System, the TT/ST System and the TT/SJ System at the various HOC Properties.

     1.36 "Substantially Equivalent" means with respect to persons, the same
           ------------------------
number of persons assigned to a project or task by each party and with respect
to money, to equal contributions of money by each party at on or about the same
time.

     1.37 "TT Acceptance Tests" means the acceptance tests and test protocols
           -------------------
for the Base TT System and the Additional Components to be mutually agreed upon
by HOC and MIKN pursuant to Section 2.1 below.

     1.38 "TT System Development Schedule" means the schedule for development of
           ------------------------------
the TT System set forth in Exhibit B.

     1.39 "TT System" means both the Base TT System in the form as accepted by
           ---------
MIKN pursuant to Section 2.2.1 and such Base TT System with the Additional
Components. The parties shall complete an Exhibit G which shall list the
components of the TT System and the Final TT Specifications.

     1.40 "TT System Table" means a live gaming table connected to the TT
           ---------------
System.

     1.41 "TT/SJ Acceptance Tests" means the acceptance tests and test protocols
           ----------------------
for the TT/SJ System to be mutually agreed upon by HOC and MIKN pursuant to
Section 3.4.

     1.42 "TT/SJ Schedule" means the schedule for development of the TT/SJ
           --------------
System as developed by the parties pursuant to Section 3.4.

     1.43 "TT/SJ Specifications" means the functional design specifications for
           --------------------
the hardware and software components of the TT/SJ System as developed by the
parties pursuant to Section 3.4.

                                       4
<PAGE>

     1.44 "TT/SJ System" means the system of computer and network software and
           ------------
hardware, including a minimum of seven hundred (700) specialized gaming tokens
or chips containing RF transmitters, in denominations as specified by HOC, for
the tracking of players and management of information in connection with live
table gaming resulting from MIKN's obligations hereunder to integrate the TT
System with MIKN's SafeJack System. Following such integration, the parties
shall complete an Exhibit I which shall list the components of the TT/SJ System
and the TT/SJ Specifications.

     1.45 "TT/SJ System Table" means a live gaming table connected to the TT/SJ
           ------------------
System.

     1.46 "TT/ST Acceptance Tests" means the acceptance tests and test protocols
           ----------------------
for the TT/ST System to be mutually agreed upon by HOC and MIKN pursuant to
Section 3.1 below.

     1.47 "TT/ST Schedule" means the schedule for development of the TT/ST
           --------------
System to be agreed to by the parties pursuant to Section 3.1 below.

     1.48 "TT/ST Specifications" means the functional design specifications for
           --------------------
the hardware and software components of the TT/ST System as developed by the
parties pursuant to Section 3.1.

     1.49 "TT/ST System" means the system of computer and network software and
           ------------
hardware, including a minimum of seven hundred (700) specialized gaming tokens
or chips containing RF transmitters, in denominations as specified by HOC, for
the tracking of players and management of information in connection with live
table gaming resulting from MIKN's obligations hereunder to integrate the TT
System with MIKN's SafeTrack System. Following such integration, the parties
shall complete an Exhibit D which shall list the components of the TT/ST System
and the TT/ST Specifications.

     1.50 A "TT/ST System Table" means a live gaming table connected to the
             ------------------
TT/ST System.

     1.51 "TT System Intellectual Property Rights" shall have the definition
           --------------------------------------
provided in Section 1.15 of the License Agreement.

     1.52 "Turnover Date" shall have the definition provided in Section 2.2.
           -------------

2.   TURNOVER AND DEVELOPMENT OF THE BASE TT SYSTEM AND THE TT SYSTEM

     2.1 TT Specifications. Within [] days after the Closing Date, the parties
         -----------------
will agree in writing to the TT Acceptance Tests for the Base TT System. Within
[] days after the Closing Date, the parties will agree in writing to the Final
TT Specifications and the TT Acceptance Tests for the Additional Components.
Once agreed, modifications may not be made to the Final TT Specifications
without both parties' prior written consent. If any subsequent modification to
the Final TT Specifications materially increases the cost to MIKN to develop or
manufacture the TT

                                       5
<PAGE>

System, HOC and MIKN shall enter into good faith negotiations to agree upon
appropriate adjustments to the prices HOC shall pay for the TT System hereunder.

     2.2   Timing of the Turnover of the Base TT System. The parties agree to
           --------------------------------------------
use reasonable commercial efforts and Substantially Equivalent resources to
complete the turnover to MIKN of the installation, maintenance and further
development (as described herein) of the Base TT System software and hardware
within [] days after the Closing Date (the "Turnover Date"). The parties shall
                                            -------------
exert commercially reasonable efforts in good faith to achieve the Turnover
Date. It is understood, however, that HOC's initial installation of the Base TT
System in Atlantic City, NJ is not fully operational as of the Closing Date.
Accordingly, both parties agree that should the time necessary to make it fully
operational materially and adversely impact the parties' achieving the Turnover
Date, HOC and MIKN will mutually agree in writing to a revised Turnover Date.

     2.2.1 Acceptance by MIKN of the Base TT System. On or within [] days
           ----------------------------------------
following the Closing Date, MIKN and HOC will jointly commence the TT Acceptance
Tests on the Base TT System at HOC's Affiliates' casino in Lake Tahoe, Nevada.
As part of the TT Acceptance Tests, MIKN and HOC will test and evaluate the Base
TT System in order to ensure that it conforms to the Preliminary TT
Specifications. Within [] days after commencement of the TT Acceptance Tests,
MIKN shall deliver a written acceptance to HOC or schedule a meeting with HOC to
occur on or before such [] day to discuss non-conformities between the Base TT
System and the Preliminary Specifications or any other deficiency in the Base TT
System that causes it not to pass all of the applicable TT Acceptance Tests
(such non-conformities and deficiencies will be referred to collectively as
"Deficiencies"). At the conclusion of such meeting, MIKN shall approve of the
 ------------
Base TT System or shall specify Deficiencies. Within a mutually agreed time
period after such meeting (the "First TT Deficiency Correction Period"), not to
                                -------------------------------------
exceed [    ] days, HOC will exert best efforts to correct the Deficiencies
so that the Base TT System conforms to the Preliminary TT Specifications and
passes all of the applicable TT Acceptance Tests. If the Deficiencies are not
corrected within such First TT Deficiency Correction Period, HOC and MIKN will
again meet in person to review the Base TT System. At the conclusion of such
meeting, MIKN shall approve the Base TT System or shall specify Deficiencies. If
MIKN specifies Deficiencies, HOC will exert best efforts to correct the
Deficiencies within a mutually agreed time period, not to exceed [] days
("Second TT Deficiency Period"). If the Deficiencies are not corrected within
  ---------------------------
such Second Deficiency Period, HOC and MIKN will meet in person to review the
Base TT System. At the conclusion of such meeting, MIKN shall approve of the
Base TT System or shall specify Deficiencies. If MIKN specifies Deficiencies,
MIKN may, at its sole discretion, (i) extend the TT Deficiency Correction Period
for the Deficiencies by a period determined by MIKN and permit the foregoing
procedure to be repeated until MIKN accepts the Base TT System or finally
rejects the Base TT System, or (ii) terminate this Agreement, the Registration
Rights Agreement and the License Agreement, and, upon such termination(s), HOC
shall return and deliver to MIKN the Initial License Fee, and HOC shall
thereafter have no further liability of any kind to MIKN resulting from or
arising out of such termination, and MIKN shall return to HOC all tangible
embodiments of the Base TT System Technology within MIKN's possession or
control. MIKN shall notify HOC in writing in the event that MIKN accepts the
Base TT System as having passed all of the applicable TT Acceptance Tests.
Following the successful conclusion of the TT Acceptance Tests on the Base TT
System, MIKN will not make any modifications to the Base TT System without HOC's
prior

                                       6
<PAGE>

written consent. If MIKN does not approve or reject the Base TT System or
specify in writing Deficiencies requiring correction within [] after the
commencement of the TT Acceptance Tests or the conclusion of a Deficiency
Correction Period, the Base TT System shall be deemed approved by MIKN.

     2.3 Joint Completion of Additional Components to the TT System. The parties
         ----------------------------------------------------------
shall, within [] days of the Closing Date: (i) agree upon the resources
necessary and schedule for completing development and acceptance testing of; and
(ii) thereafter devote mutually agreed upon Substantially Equivalent resources
to achieve completion of the following components of the TT System (the
"Additional Components"):
 ---------------------

          (a)  Development and testing of software for games other than

          blackjack;

          (b)  Engineering of card reader placements for games other than

          blackjack;

          (c)  "Total View" functionality;

          (d)  Table accounting transaction entry screens and messaging to HOC's

          Casino Management System; and

          (e)  In-rail card readers.

     MIKN shall notify HOC when MIKN has determined that the Additional
Components are ready for administration of the TT Acceptance Tests.

     2.4  Acceptance by HOC of the Additional Components. Upon notification by
          ----------------------------------------------
MIKN pursuant to Section 2.3 above that the Additional Components are ready for
the commencement of the TT Acceptance Tests and consistent with the schedule set
forth on Exhibit B, MIKN and HOC will jointly conduct the TT Acceptance Tests on
the Additional Components. As part of the TT Acceptance Tests, HOC will test and
evaluate the Additional Components in order to ensure that the Additional
Components conform to the applicable part of the Final TT Specifications. Within
[] days after commencement of the TT Acceptance Tests, HOC shall deliver a
written acceptance to MIKN, or schedule a meeting with MIKN to occur on or
before such [] day to discuss non-conformities between the Additional Components
and the Final TT Specifications or any other deficiency in the Additional
Components that causes them not to pass all of the applicable TT Acceptance
Tests (such non-conformities and deficiencies will be referred to collectively
as "Deficiencies"). At the conclusion of such meeting, HOC shall approve of the
    ------------
Additional Components or shall specify Deficiencies. Within a mutually agreed
time period after such meeting (the "First AC Deficiency Correction Period"),
                                     -------------------------------------
not to exceed [    ] days, MIKN will exert best efforts to correct the
Deficiencies so that the Additional Components conform to the Final TT
Specifications and pass all of the applicable TT Acceptance Tests. If the
Deficiencies are not corrected within such First AC Deficiency Correction
Period, HOC and MIKN will meet in person to review the Additional Components. At
the conclusion of such meeting, HOC shall approve the Additional Components or
shall

                                       7

<PAGE>

specify Deficiencies. If HOC specifies Deficiencies, MIKN will exert best
efforts to correct the Deficiencies within a mutually agreed time period, not to
exceed [] days (the "Second AC Deficiency Correction Period"). If the
                     --------------------------------------
Deficiencies are not corrected within such Second AC Deficiency Correction
Period, HOC and MIKN will meet in person to review the Additional Components. At
the conclusion of such meeting, HOC shall approve of the Additional Components
or shall specify Deficiencies. If HOC specifies Deficiencies, HOC may, at its
sole discretion, (i) extend the Second AC Deficiency Correction Period for the
Deficiencies by a period determined by HOC and permit the foregoing procedure to
be repeated until HOC accepts the Additional Components or finally rejects the
Additional Components, or (ii) exercise its rights and remedies under Section
10.3 hereof. HOC shall notify MIKN in writing in the event that HOC accepts the
Additional Components as having passed all of the applicable TT Acceptance
Tests. Following successful completion of the TT Acceptance Tests, MIKN will not
make any modifications to the Additional Components without both parties' prior
written consent. If HOC does not approve or reject the Additional Components or
specify in writing Deficiencies requiring correction within [] days after the
commencement of the TT Acceptance Tests or the conclusion of a Deficiency
Correction Period, the Additional Components shall be deemed approved by HOC.

     2.5 Transition of the Base TT System. As expeditiously as possible after
         --------------------------------
the Closing Date, HOC will transfer to MIKN one (1) copy of the tangible
embodiments of the Base TT System Technology within HOC's possession or control.
Between the Closing Date and the Turnover Date, but as expeditiously as
reasonably possible, the parties will work together to facilitate a smooth and
efficient transfer to MIKN of the know how concerning the Base TT System.
Following the Turnover Date, in order to facilitate the development contemplated
by Section 2.3, HOC agrees to devote a reasonable amount of time of its
personnel who are knowledgeable about the Base TT System to be available to MIKN
to answer questions concerning the Base TT System and the design and use thereof
to personnel of MIKN who will be involved in the further development and service
and maintenance of the Base TT System.

     2.6 Development Resources and Expenses. Except as expressly stated in this
         ----------------------------------
Agreement or otherwise mutually agreed, each party will be responsible for its
own costs incurred in the development of the Base TT System, the TT System, the
TT/ST System and the TT/SJ System and will pay for the costs of the personnel,
materials, facilities and equipment it contributes to the Base TT System, the TT
System, the TT/ST System and the TT/SJ System development effort.

     2.7 Schedule. Exhibit B hereto lists the dates set forth in this Section 2
         --------
and in Section

3.   DEVELOPMENT OF THE TT/ST SYSTEM AND TT/SJ SYSTEM

     3.1 TT/ST Specifications. Within a mutually agreeable time following the
         --------------------
Closing Date, the parties will agree in writing to the TT/ST Specifications, the
TT/ST Schedule and the TT/ST Acceptance Tests for the TT/ST System. Once
developed, no modifications may be made to the TT/ST Specifications without both
parties' prior written consent.

     3.2 Development of the TT/ST System. MIKN shall exert commercially
         -------------------------------
reasonable efforts to develop the TT/ST System in accordance with the TT/ST
Specifications and the TT/ST

                                       8
<PAGE>

Schedule for acceptance testing of the TT/ST System by HOC. Development of the
TT/ST System shall be complete within a mutually agreed upon time after the
Closing Date. MIKN shall notify HOC when MIKN has determined that the TT/ST
System is ready for administration of the TT/ST Acceptance Tests.

     3.3 Acceptance by HOC of the TT/ST System. Upon notification by MIKN
         -------------------------------------
pursuant to Section 3.2 above that the TT/ST System is ready for the
commencement of the TT/ST Acceptance Tests, MIKN and HOC will jointly conduct
the TT/ST Acceptance Tests on the TT/ST System. The TT/ST Acceptance Tests shall
be conducted in accordance with the procedures set forth in Section 2.4 above,
except that references therein to the Additional Components, the Final TT
Specifications and the TT Acceptance Tests shall be deemed to be references,
respectively, to the TT/ST System, the TT/ST Specifications and the TT/ST
Acceptance Tests. HOC shall notify MIKN in writing in the event that HOC accepts
the TT/ST System as having passed all of the TT/ST Acceptance Tests.
Notwithstanding the foregoing, in the event HOC rejects the TT/ST System, its
rights and remedies under Section 10.3(b) hereof shall be limited to terminating
this Agreement only as it pertains to HOC's obligations respecting field testing
the TT/ST System under Section 6.2.

     3.4 TT/SJ Specifications. Within a mutually agreeable time following the
         --------------------
Closing Date, the parties will agree in writing to the TT/SJ Specifications, the
TT/SJ Schedule and the TT/SJ Acceptance Tests for the TT/SJ System. Once
developed, no modifications may be made to the TT/SJ Specifications without both
parties' prior written consent.

     3.5 Development of the TT/SJ System. MIKN shall exert commercially
         -------------------------------
reasonable efforts to develop the TT/SJ System in accordance with the TT/SJ
Specifications and the TT/SJ Schedule for acceptance testing by HOC. Development
of the TT/SJ System shall be complete within a mutually agreed upon time after
the Closing Date. MIKN shall notify HOC when MIKN has determined that the TT/SJ
System is ready for administration of the TT/SJ Acceptance Tests.

     3.6 Acceptance by HOC of the TT/SJ System. Upon notification by MIKN
         -------------------------------------
pursuant to Section 3.5 above that the TT/SJ System is ready for the
commencement of the TT/SJ Acceptance Tests, MIKN and HOC will jointly conduct
the TT/SJ Acceptance Tests on the TT/SJ System. The TT/SJ Acceptance Tests shall
be conducted in accordance with the procedures set forth in Section 2.4 above,
except that references therein to the Additional Components, the Final TT
Specifications and the TT Acceptance Tests shall be deemed to be references,
respectively, to the TT/SJ System, the TT/SJ Specifications and the TT/SJ
Acceptance Tests. HOC shall notify MIKN in writing in the event that HOC accepts
the TT/SJ System as having passed all of the TT/SJ Acceptance Tests.
Notwithstanding the foregoing, in the event HOC rejects the TT/SJ System, its
rights and remedies under Section 10.3(b) hereof shall be limited to terminating
this Agreement only as it pertains to HOC's obligations respecting field testing
the TT/SJ System under Section 6.2.

4.   SERVICE, MAINTENANCE, AND REGULATORY OBLIGATIONS OF MIKN

     4.1 Assumption by MIKN of Obligations for Service and Maintenance. Upon the
         -------------------------------------------------------------

                                       9
<PAGE>

Turnover Date, as defined in Section 2.2 above, MIKN will assume full
responsibility for installing, servicing and maintaining the Base TT System
software and hardware previously installed or thereafter installed in any HOC
Property.

     4.2 Maintenance of a TT System, TT/ST System and TT/SJ System Test Bed. For
         ------------------------------------------------------------------
so long as MIKN is the exclusive provider of service and maintenance for the TT
System, TT/ST System and TT/SJ System for HOC, MIKN shall, on or before
installation of the first of each of a TT System Table, TT/ST System Table or a
TT/SJ System Table at a HOC Property, maintain a software test bed at MIKN's
engineering headquarters in Las Vegas, NV which mirrors the version of the TT
System, TT/ST System and TT/SJ System used by HOC at any given time. MIKN agrees
to maintain such test bed for the purpose of (i) allowing MIKN to duplicate and
correct any problems with the TT System, TT/ST System and TT/SJ System
experienced by HOC in actual operation, and (ii) serving as a resource for
making improvements and enhancements to the TT System, TT/ST System and TT/SJ
System, as HOC may request from time to time. MIKN and HOC shall agree in
advance in writing on any payment obligations for such improvements and
enhancements.

     4.3 Service and Maintenance of the Base TT System, TT System, the TT/ST
         -------------------------------------------------------------------
System and the TT/SJ System. MIKN shall have the obligation to provide service
---------------------------
and maintenance of the Base TT System, TT System, TT/ST System and TT/SJ System
in accordance with the provisions of the Service and Maintenance Agreements
attached as Exhibit E hereto.

     4.4 Service and Maintenance Agreements. HOC and MIKN shall enter into
         ----------------------------------
separate Service and Maintenance Agreements with respect to each of the various
HOC Properties for service and maintenance of the Base TT and/or TT and/or TT/ST
Systems and/or TT/SJ Systems.

     4.5 Regulatory Approval. During the term of this Agreement, MIKN will: (x)
         -------------------
diligently seek, obtain and maintain the approval or license of any regulatory
authority in a jurisdiction which is material to the business of HOC that may be
required to enable the development, testing, implementation, and/or commercial
sale, licensing or distribution and/or use of the: (i) Base TT System; (ii) TT
System; (iii) TT/ST System; and (iv) the TT/SJ System; and (y) shall otherwise
comply with all other relevant gaming or other regulatory requirements. A
jurisdiction is deemed to be "material to the business of HOC if it is: (a) a
jurisdiction in which HOC is doing business at the time such failure to comply
with (x) or (y) occurs; or (b) one in which HOC has publicly announced plans to
do business at the time such failure to comply with (x) or (y) occurs; or (c)
one in which MIKN's failure to comply with (x) or (y) above will adversely
impact HOC in either of (a) or (b).

5.   ENHANCEMENTS TO HOC'S CASINO MANAGEMENT SYSTEM

     HOC shall exert commercially reasonable efforts at its sole expense to
develop and implement any enhancements that need to be made to HOC's Casino
Management System in order to complete development of the TT System, the TT/ST
System and the TT/SJ System or to interface HOC's Casino Management System
thereto in a manner and time frame that does not interfere with MIKN's ability
to meet its obligations under this Agreement.

                                       10
<PAGE>

                                 [BLANK PAGE]

                                       11
<PAGE>

6.   HOC COMMITMENTS TO PURCHASE AND INSTALL SYSTEMS

     6.1 Minimum Installation. On or before the later of: [] ([] the "Minimum
         --------------------                                         -------
Date"), HOC agrees to have installed any combination of [] Base TT System Tables
----
and/or TT System Tables and/or TT/ST System Tables and/or TT/SJ System Tables in
HOC Properties, inclusive of Base TT System Tables and/or TT System Tables
and/or TT/ST System Tables installed prior to the Closing Date or pursuant to
Section 6.2 (the "Minimum"). So long as MIKN maintains exclusivity under the
                  -------
License Agreement, MIKN shall be HOC's exclusive source of supply for all
hardware and software comprising the Base TT System, and the TT, TT/ST and TT/SJ
Systems. So long as MIKN maintains exclusivity under the License Agreement, for
the first [] years after the Turnover Date, MIKN shall be HOC's exclusive source
for servicing and maintaining such hardware and software pursuant to Service and
Maintenance Agreements. In the event HOC fails to install the Minimum on or
before the Minimum Date, MIKN may, at its option, as its sole remedy, either;
(i) declare and deem all License Fees due under Article 8 hereof fully paid up,
in which event MIKN's license rights under the License Agreement shall become
[]; (ii) require HOC to pay MIKN a sum equal to [] ; or (iii) waive HOC's
failure to install the Minimum.

     6.2 Field Trials. Within the [] months following the Turnover Date, at
         ------------
MIKN's request, HOC shall allow MIKN to install for field trial and evaluation
purposes TT/ST System Tables and TT/SJ System Tables comprising at least [].
MIKN shall be HOC's exclusive source of supply for all hardware and software
comprising the TT/ST System Tables and TT/SJ System Tables for such field trial
and shall be HOC's exclusive source for servicing and maintaining such hardware
and software. HOC shall permit the TT/ST System Tables installed in accordance
with this Section 6.2 to remain installed at the foregoing HOC Properties for
such period of time as may be reasonably necessary for MIKN to obtain any
required regulatory approvals in each respective jurisdiction. MIKN shall be
responsible for, shall pay for and shall exert commercially reasonable efforts
to obtain such regulatory approvals as expeditiously as reasonably possible. HOC
shall pay for the TT/ST System Tables and TT/SJ System Tables installed under
this Section 6.2 in accordance with the provisions in Section 7. HOC shall
cooperate with MIKN in operating and presenting the TT/ST System Tables to
regulatory authorities to facilitate prompt approval.

7.   PRICING

     7.1 Price for Systems. During the term of this Master Agreement and subject
         -----------------
to Section 7.5, MIKN agrees to sell Base TT System Tables, TT System Tables,
TT/ST System Tables and TT/SJ System Tables to HOC at the following prices
(subject to Section 7.4):

         7.1.1 Base TT System Table or TT System Table. For a Base TT System
               ---------------------------------------
Table or TT System Table, [] per Base TT System Table or TT System Table,
including training and installation, but excluding wiring (both network and to
the table), duties, shipping and sales tax. HOC shall provide one (1) technician
for every MIKN installer to assist with installation. MIKN shall provide a
software license, service and maintenance, including parts and labor, for a Base
TT System Table or TT System Table for a combined total of [] per month per Base
TT System Table or TT System Table.

                                       12
<PAGE>

         7.1.2 TT/ST System Table. For a TT/ST System Table, [] per system,
               ------------------
including training and installation, but excluding wiring (both network and to
the table), duties, shipping and sales tax. HOC shall provide one (1) technician
for every MIKN installer to assist with installation. MIKN shall provide a
software license, service and maintenance, including parts and labor, for a
TT/ST System Table for a combined total of [] per month per TT/ST System Table.

         7.1.3 TT/SJ System Table. For a TT/SJ System Table, [] per system,
               ------------------
including training and installation, but excluding wiring (both network and to
the table), duties, shipping and sales tax. HOC shall provide one (1) technician
for every MIKN installer to assist with installation. MIKN shall provide a
software license, service and maintenance, including parts and labor, for a
TT/SJ System Table for a combined total of [] per month per TT/SJ System Table
for any TT/SJ System Table ordered within [] months after HOC's acceptance of
the TT/SJ System (the "Initial Twelve Month Period"), and thereafter for a
combined total of [] per month per TT/SJ System Table.

     7.2 Computer Network Equipment. The pricing set forth in Sections 7.1.1,
         --------------------------
7.1.2 and 7.1.3 above does not include computer servers and computer networking
equipment which, at the option of HOC, shall be provided (i) by HOC at no cost
to MIKN or (ii) by MIKN at cost plus a [] handling charge.

     7.3 Spare Parts Inventory. The pricing set forth in Sections 7.1.1, 7.1.2
         ---------------------
and 7.1.3 does not include an inventory of spare and replacement parts. HOC
agrees to create and pay for an initial inventory of spare and replacement parts
at each of the HOC Properties, the size and contents of which shall be specified
in the applicable Service and Maintenance Agreement. For so long as HOC has a
Service and Maintenance Agreement in effect at an HOC Property, HOC shall have
no obligation to restock the inventory of spare and replacement parts at such
HOC Property. Instead MIKN shall replenish such inventory at its sole expense in
accordance with the Service and Maintenance Agreement.

     7.4 Most Favored Nation. During the term of this Agreement, MIKN warrants
         -------------------
and agrees that: (i) all prices to HOC for Base TT System Tables, TT System
Tables, TT/ST System Tables and TT/SJ System Tables will be [].

     7.5 Price Protection.
         ----------------

         7.5.1 Hardware and Installation. MIKN will not increase HOC's prices
               -------------------------
for Base TT System Tables, TT System Tables, TT/ST System Tables or TT/SJ System
Tables during the first [] months after the Closing Date; provided, however, (i)
if the cost of materials and equipment used in the manufacture of Base TT System
Tables, TT System Tables, TT/ST System Tables or TT/SJ System Tables supplied to
MIKN by third parties increases, MIKN may increase the price charged to HOC for
such items, but not by more than the actual increase in such costs to MIKN; and
(ii) MIKN may increase HOC's prices for each of a Base TT System Table, TT
System Table, TT/ST System Table and a TT/SJ System Table by an amount equal to
the amount directly resulting from an increase in labor or overhead incurred by
MIKN, but in no event annually more than the greater of (a) five percent (5%) or
(b) the amount of increase in the Cost

                                       13
<PAGE>

of Living Index Average For All Cities in that year over the preceding year.
Following such [] period, MIKN may increase prices on any Base TT System Tables,
TT System Tables, TT/ST System Tables or TT/SJ System Tables subject to Section
7.4.

          7.5.2 Service and Maintenance. During the first [] after the Closing
                -----------------------
Date, MIKN shall not increase its fees to be paid under the Service and
Maintenance Agreements. After such [] period, such monthly service and
maintenance fees may not be increased by more than [] annually.

8.   LICENSE FEES AND ROYALTIES TO HOC

     8.1  License Fees. In consideration of HOC's obligations hereunder and of
          ------------
the licenses granted under the License Agreement, MIKN agrees to pay HOC the
following license fees.

          8.1.1 Initial License Fee. Upon the Closing Date, MIKN shall pay HOC
                -------------------
an initial license fee ("Initial License Fee") of [    ] payable in
                         -------------------
unregistered MIKN Shares. The share price for determining the number of MIKN
Shares deliverable to HOC shall be the Initial Market Price.

          8.1.2 Additional License Fee. If HOC installs in HOC Properties the
                ----------------------
Minimum, HOC shall be eligible to receive an additional license fee ("Additional
                                                                      ----------
License Fee") of up to [] payable in MIKN Shares. The share price for
-----------
determining the number of MIKN Shares deliverable to HOC as the Additional
License Fee shall be the lower of (i) the Initial Market Price, and (ii) the
average of the high and low price of MIKN Shares on the NASDAQ National Market
System on the last trading day immediately prior to the date the Additional
License Fee, or any installment thereof, becomes payable. The Minimum may be
referred to as HOC's "Initial Installed Base Commitment".
                      ---------------------------------

          The Additional License Fee shall be payable quarterly in arrears in
the amount of [] worth of MIKN Shares for each Quota (as defined below) of
Points (as defined below) achieved by HOC for the prior fiscal quarter. HOC
shall earn [] "Point" per installation of a TT/ST System Table or TT/SJ System
Table and [] Point per installation of a Base TT System Table or a TT System
Table. "Quota" shall be calculated in accordance with the following formula: []

          8.1.3 Bonus License Fee. If HOC achieves a total of [] Points within
                -----------------
[] after the Minimum Date, HOC shall become eligible to receive a bonus license
fee ("Bonus License Fee") of [] worth of MIKN Shares, upon the condition
      -----------------
precedent that HOC installs an additional [] or more TT/ST System Tables and
TT/SJ System Tables in HOC Properties within twelve (12) months thereafter. The
share price for determining the number of MIKN Shares deliverable to HOC shall
be the lower of: (i) the Initial Market Price; or (ii) the average of the high
and low price of MIKN Shares on the NASDAQ National Market System on the day the
Bonus License Fee becomes payable.

          8.1.4 Adjustment Upon Common Stock Event. Subsequent to the Closing
                ----------------------------------
Date, upon the happening of a Common Stock Event (as hereinafter defined), the
Initial Market Price

                                       14
<PAGE>

shall, simultaneously with the happening of such Common Stock Event, be adjusted
by multiplying the Initial Market Price in effect immediately prior to such
Common Stock Event by a fraction (i) the numerator of which shall be the number
of MIKON Shares issued and outstanding immediately prior to such Common Stock
Event, and (ii) the denominator of which shall be the number of MIKN Shares
issued and outstanding immediately after such Common Stock Event, and the
product so obtained shall thereafter be the Initial Market Price. The Initial
Market Price shall be readjusted in the same manner upon the happening of each
subsequent Common Stock Event. As used herein, the term "Common Stock Event"
shall mean (i) the issuance by MIKN of additional MIKN Shares as a dividend or
other distribution on the outstanding MIKN Shares, (ii) a subdivision of the
outstanding Shares into a greater number of MIKN Shares, or (iii) a combination
of the outstanding MIKN Shares into a smaller number of MIKN Shares, whether
effected through a stock dividend, stock split, reverse stock split or
otherwise.

         8.1.5 Adjustment for Reclassification, Exchange and Substitution. If
               ----------------------------------------------------------
at any time or from time to time after the Closing Date the MIKN Shares are
changed into the same or a different number of shares of any class or classes of
stock, whether by recapitalization, reclassification or otherwise (other than by
                                                                   ----- ----
a Common Stock Event provided for elsewhere in this Section 8), then appropriate
adjustment shall be made to the Initial Market Price to reflect the occurrence
of such recapitalization, reclassification or other event.

     8.2 Royalties. MIKN shall pay HOC a royalty of [] for any other system
         ---------
utilizing the TT System Intellectual Property Rights (as defined in Section 1.11
of the License Agreement) sold or leased by MIKN to any party other than to a
HOC Property. MIKN shall further pay HOC a royalty of [] for all TT/ST System
Tables or TT/SJ System Tables for which MIKN provides maintenance services to a
HOC Property pursuant to a Service and Maintenance Agreement. After expiration
of the last to expire of the Licensed Patents, the preceding royalties shall be
reduced to [] per Base TT System Table, TT System Table, TT/SJ System Table or
TT/ST System Table and [] per table per month for TT/ST System Tables or TT/SJ
System Tables for which MIKN provides maintenance services.

     8.3 Records and Royalty Reports. MIKN shall keep accurate records of its
         ---------------------------
operations respecting the manufacture and sale, lease or other transfer of the
Base TT Systems, TT Systems, TT/ST Systems and the TT/SJ Systems to the extent
necessary for the royalties and fees payable hereunder to be determined,
including records of the quantity and price of such Systems. MIKN shall prepare
quarterly written reports of the same, disclosing the quantity of such Systems
sold, leased or otherwise transferred by MIKN and showing the amount of
royalties due for such quarter, and shall promptly submit such reports to HOC
within thirty (30) days after the end of each quarter, along with the required
royalty payment. Such reports shall be certified as true, correct and complete
by the Chief Financial Officer of MIKN.

     8.4 Audit. Upon reasonable notice, HOC shall have the right to examine
         -----
MIKN's records relating to sales of the Base TT Systems, the TT Systems, the
TT/ST Systems and the TT/SJ Systems through an independent representative during
ordinary business hours to the extent necessary to confirm or correct such
reports. Such inspections shall be made by a mutually agreeable representative,
which representative may furnish to HOC its conclusions as to the accuracy of
such reports, as to any discrepancies therein, and as to any adjustment
necessary

                                       15
<PAGE>

to be made to provide for payment of the proper amount of royalties. In the
event that any examination by such mutually agreeable representative reveals
that MIKN has underpaid royalties and fees due to HOC by five percent (5%) or
more, MIKN shall pay to HOC within five (5) business days of the receipt of
written notice by HOC of MIKN's underpayment the full expense of said
examination and any additional royalties and fees due; otherwise the costs of
such representative shall be paid for by HOC. In addition, in the event of
underpaying by MIKN, MIKN shall pay a late fee in the amount of the lesser of
one percent (1%) per month or the highest rate allowed by laws of the amount
underpaid.

     8.5 Maintenance of Records. MIKN shall maintain all records relating to the
         ----------------------
manufacture, sale, lease or other transfer of the Base TT Systems, TT Systems,
TT/ST Systems, and the TT/SJ Systems during the term of this Master Agreement
and for a period of five (5) years thereafter.

9.   REGISTRATION RIGHTS

     Upon the Closing Date, MIKN and HOC will execute a Registration Rights
Agreement in the form set forth in Exhibit C hereto.

10.  TERM AND TERMINATION

     10.1 Term. Unless earlier terminated in accordance with its terms, this
          ----
Master Agreement shall extend until the expiration date of the License
Agreement.

     10.2 Events of Default by MIKN. The occurrence of any of the following
          -------------------------
events will constitute an "Event of Default by MIKN":

          (a) a material adverse change in the financial condition of MIKN and
its consolidated subsidiaries, taken as a whole, that can be reasonably expected
to render or prospectively render MIKN incapable of complying with its
obligations under this Agreement, the License Agreement, the escrow agreement
attached to the License Agreement as Exhibit B, any or all of the Service and
Maintenance Agreements or the Registration Rights Agreement, such change to be
measured from the Closing Date; or

          (b) MIKN defaults in any material respect under this Agreement, the
License Agreement, the escrow agreement attached as Exhibit B to the License
Agreement, the Registration Rights Agreement or any of the Service and
Maintenance Agreements, and such default is not cured by MIKN within the
appropriate cure period stated in the relevant Agreement, or if no cure period
is stated, thirty (30) days after HOC gives MIKN written notice of such default
or violation; or

          (c) MIKN or any of its Affiliates becomes insolvent, or admits in
writing its inability to pay its debts as they mature, or makes an assignment
for the benefit of creditors, or applies for or consents to the appointment of a
receiver, liquidator, custodian or trustee for it or

                                       16
<PAGE>

for a substantial part of its property or business, or such a receiver,
liquidator, custodian, or trustee otherwise is appointed; or

          (d) Bankruptcy, insolvency, reorganization or liquidation proceedings
or other proceedings for relief under any bankruptcy law or any law for the
relief of debtors are instituted by or against MIKN or any of its Affiliates,
(that, with respect to such Affiliate(s), can be reasonably expected to render
or prospectively render MIKN incapable of complying with its obligations under
this Agreement, the License Agreement, the escrow agreement attached to the
License Agreement as Exhibit B, any or all of the Service and Maintenance
Agreements or the Registration Rights Agreement), or any order, judgment or
decree is entered against MIKN or any such Affiliate decreeing its dissolution;
provided, however, that with respect to an involuntary petition in bankruptcy,
-----------------
such petition has not been dismissed within thirty (30) days after the filing of
such petition; or

          (e) This Agreement or the Registration Rights Agreement, the License
Agreement, the escrow agreement attached to the License Agreement as Exhibit B,
or any of the Service and Maintenance Agreements for any reason (other than the
satisfaction in full by MIKN of all its obligations to HOC) cease to be, or are
asserted by MIKN not to be, legal, valid and binding obligations of MIKN,
enforceable in accordance with their terms, and such occurrence has not been
cured within ten (10) days after HOC becomes aware thereof.

     10.3 Remedies of HOC upon Event of Default by MIKN. Except for the
          ---------------------------------------------
occurrence of an Event of Default which is also an Arbitrable Matter, which must
be arbitrated prior to HOC exercising its rights under this Section 10.3, upon
an Event of Default by MIKN, at HOC's sole option by written notice to MIKN, HOC
may do any one or more of the following:

          (a) Exercise all rights and remedies granted under this Agreement, the
Registration Rights Agreement, the License Agreement and the Service and
Maintenance Agreements, or otherwise available at law or in equity; and/or

          (b) Terminate this Agreement and/or the License Agreement and/or any
Service and Maintenance Agreements between MIKN and a HOC Property (as defined
in the Master Agreement).

     10.4 Events of Default by HOC. The occurrence of any of the following
          ------------------------
events will constitute an "Event of Default by HOC":
                           -----------------------

          (a) HOC materially defaults under this Agreement (other than HOC's
failure to purchase the Minimum), and such default is not cured by HOC within
thirty (30) days after MIKN gives HOC written notice of such default; or

          (b) HOC becomes insolvent, or admits in writing its inability to pay
its debts as they mature, or makes an assignment for the benefit of creditors,
or applies for or consents to the appointment of a receiver, liquidator,
custodian or trustee for it or for a substantial part of its property or
business, or such a receiver, liquidator, custodian or trustee otherwise is
appointed; or

                                       17
<PAGE>

          (c) Bankruptcy, insolvency, reorganization or liquidation proceedings
or other proceedings for relief under any bankruptcy law or any law for the
relief of debtors are instituted by or against HOC, or any order, judgment or
decree is entered against HOC decreeing its dissolution; provided, however, that
                                                         -----------------
with respect to an involuntary petition in bankruptcy, such petition has not
been dismissed within thirty (30) days after the filing of such petition; or

          (d) This Agreement or the Registration Rights Agreement, the License
Agreement, the escrow agreement attached to the License Agreement as Exhibit B,
or any of the Service and Maintenance Agreements for any reason (other than the
satisfaction in full by HOC of all of its obligations to MIKN) cease to be, or
are asserted by HOC not to be legal, valid and binding obligations of HOC,
enforceable in accordance with their terms, and such occurrence has not been
cured within ten (10) days after MIKN becomes aware thereof.

     10.5 Remedies of MIKN upon Event of Default by HOC. Except for the
          ---------------------------------------------
occurrence of an Event of Default which is also an Arbitrable Matter, which must
be arbitrated prior to MIKN exercising its rights under this Section 10.5, upon
an Event of Default by HOC, at MIKN's sole option by written notice to HOC, MIKN
may do any one or more of the following:

          (a) Exercise all rights and remedies available under this Agreement,
the License Agreement, the Service and Maintenance Agreements and at law or in
equity; and/or

          (b) Terminate this Agreement and the License Agreement.

     10.6 Effect of Termination or Expiration.
          -----------------------------------

          10.6.1 Termination of Other Agreements. Termination of this Master
                 -------------------------------
Agreement under Section 10.5 (b) shall automatically terminate the License
Agreement. Termination of this Master Agreement by HOC upon the occurrence of an
Event of Default by MIKN shall entitle HOC, at its option, to terminate at any
time one or more of any Service and Maintenance Agreements in effect between
MIKN and a HOC Property.

          10.6.2 Payments Due. Upon termination or expiration, either party
                 ------------
will, within ten (10) days thereafter, pay the other party any and all payments
and interest due and outstanding as of the date of such termination or
expiration.

          10.6.3 Remaining Inventory. Upon termination of this Master Agreement
                 -------------------
for cause or without cause, MIKN shall have [] to distribute any remaining
inventory in process and in existence as of the effective date of the
termination, subject to the obligation for MIKN to pay royalties hereunder for
any such distribution.

          10.6.4 Liability for Termination. EXCEPT FOR DIRECT DAMAGES RESULTING
                 -------------------------
FROM A BREACH OF THE TERMS OF THIS MASTER AGREEMENT, NEITHER PARTY SHALL BE
LIABLE TO THE OTHER FOR DAMAGES OF ANY SORT AS A RESULT OF TERMINATING THIS
MASTER AGREEMENT IN ACCORDANCE WITH THE TERMS OF THIS MASTER AGREEMENT.

          10.6.5 Survival. The parties acknowledge and agree that Sections 1,
                 --------
4.3, 8, 10,

                                       18
<PAGE>

11, 12, 13 and 15 of this Master Agreement shall survive termination or
expiration.

11.  ARBITRATION

     11.1 Arbitrable Matters. The parties agree to submit to final and binding
          ------------------
arbitration, pursuant to the conditions of this Article 11, in Las Vegas, NV at
a location specified by the party seeking such arbitration, disputes to the
extent they constitute the following ("Arbitrable Matters"):
                                       ---------- -------

     (a) whether a modification to the Final TT Specifications materially
increases the cost to MIKN to develop or manufacture the TT System, and, if so,
the amount of appropriate adjustments to the prices HOC shall pay for the TT
System hereunder pursuant to Section 2.1;

     (b) whether an Event of Default has occurred within the meaning of Section
10.2(a);

     (c) whether an Event of Default has occurred within the meaning of Section
10.2(b) or 10.4(a), as applicable, with respect to performance of a party's
obligations under Sections 2.1, 2.2, 2.2.1, 2.3, 2.4, 2.5, 2.6, 3 and 5 and, if
so, the amount of damages caused to the non-defaulting party by virtue of such
Event of Default;

     (d) the computation of the License Fees or royalties due hereunder,
including any adjustments to the Initial Market Price as provided in Section
8.1.5;

     (e) whether a party has devoted Substantially Equivalent Resources where
required hereunder and, if not, the amount of damages caused to the other party
as a result thereof;

     (f) whether the Base TT System, TT System, TT/ST System or the TT/SJ System
conforms to the Preliminary TT Specifications, the Final TT Specifications the
TT/ST Specifications and the TT/SJ Specifications, respectively; and, if not,
the amount of damages caused to HOC as a result thereof; and

     (g) the amount, if any, of price adjustments permitted or required to be
made, as applicable, pursuant to the provisions of Section 7.5.1.

     11.2 Arbitration Process.
          -------------------

     (a) The Arbitrators. Any arbitration proceeding shall be conducted by three
         ---------------
(3) arbitrators (the "Arbitrators") and the decision of the Arbitrators shall be
                      -----------
binding on all parties. Each Arbitrator shall have expert competence in
accounting matters as to Arbitrable Matters (b), (d), (e) and (g) and in
technology matters as to all other Arbitrable Matters. The party desiring to
submit any matter relating to the Arbitrable Matters to arbitration shall do so
by written notice to the other party, which notice shall set forth the items to
be arbitrated, such party's choice of an Arbitrator, and such party's
substantive position in the arbitration. The party receiving such notice shall,
within fifteen (15) days (except for Arbitrable Matter (b) above, in which case
the time shall be reduced to five (5) days), after receipt of such notice,
appoint an Arbitrator and notify the other party of its appointment and of its
substantive position. The Arbitrators

                                       19
<PAGE>

appointed by the parties to the Arbitration shall select an additional
arbitrator meeting the aforedescribed criteria. The Arbitrators shall be
required to render a decision in accordance with the procedures set forth in
Subparagraph (b) below within thirty (30) days after being notified of their
selection (except for Arbitrable Matter (b) above, in which event the time
period shall be reduced to five (5) days).

     (b) Arbitration Procedures. Arbitration shall be conducted in accordance
         ----------------------
with the Uniform Arbitration Act, except to the extent the provisions of such
Act are modified by this Agreement or the subsequent mutual agreement of the
parties. In all arbitration proceedings, the Arbitrators shall be required to
agree upon and approve the substantive position advanced by a party with respect
to each disputed item, except as to the question of the amount of damages caused
to a non-defaulting party. Failure of the Arbitrators to do so shall render the
arbitration void and the party who requested such arbitration may avail itself
of the provisions of Section 10. Judgment upon the award rendered by the
Arbitrators may be entered in any court having jurisdiction thereof. Any party
hereto may bring an action, including a summary or expedited proceeding, to
compel arbitration of any controversy or claim to which this provision applies
in any court having jurisdiction over such action in Clark County, Nevada, and
the parties agree that jurisdiction and venue in Clark County, Nevada are
appropriate and approved by such parties.

     (c) Effect of Arbitration. Following the conclusion of arbitration, if the
         ---------------------
Arbitrators agree upon and support the substantive position advanced by the
party seeking arbitration and such position is that an Event of Default by the
other party has occurred by reason of the issue being arbitrated (the
"Prevailing Party") the Prevailing Party may avail itself of the remedies
 ----------------
provided for in Section 10 (other than instituting litigation with respect to
the disputed issues that have been arbitrated).

     (d) Matters That Are Not Arbitrable Matters. Neither party shall have any
         ---------------------------------------
obligation to arbitrate any disputes arising out of or relating to this
Agreement that are not expressly defined in this Section as Arbitrable Matters.
In addition, HOC shall have no obligation to arbitrate any action for
preliminary or other injunctive or equitable relief within the provisions of
Section 15.13 below.

12.  LIMITATION OF LIABILITY AND INDEMNITY

     12.1 Disclaimer of Certain Types of Damages. IN NO EVENT WILL MIKN OR HOC
          --------------------------------------
BE LIABLE FOR LOST PROFITS, OR ANY SPECIAL, INDIRECT, INCIDENTAL OR
CONSEQUENTIAL DAMAGES, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, ARISING IN
ANY WAY IN CONNECTION WITH THIS MASTER AGREEMENT. THIS LIMITATION WILL APPLY
EVEN IF MIKN AND HOC HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND
NOTWITHSTANDING ANY FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY.

     12.2 Indemnity. The following terms apply to any infringement or claim of
          ---------
infringement of any patent, trademark, copyright, trade secret, or other
proprietary interest based on the licensing, use, or sale of the TT/ST System or
TT/SJ System or the Software or Hardware of the TT/ST System or the TT/SJ System
(as those terms are defined in the Service and

                                       20
<PAGE>

Maintenance Agreements). MIKN shall indemnify HOC for any loss, damage, expense,
or liability, including costs and reasonable attorneys' fees finally awarded,
that may result by reason of any such infringement or claim, except where such
infringement or claim arises solely from MIKN's adherence to HOC's written
instructions or directions which involve the use of merchandise or items other
than (i) commercial merchandise which is available on the open market or is the
same as such merchandise; or (2) items of HOC's origin, design, or selection;
and HOC shall so indemnify MIKN in such excepted cases. Each party shall defend
or settle, at its own expense, any action or suit against the other for which it
is responsible hereunder. Each party shall notify the other promptly of any
claim of infringement for which the other is responsible, and shall cooperate
with the other in every reasonable way to facilitate the defense of any such
claim.

     12.3 Remedies. In addition, in the event an injunction or order shall be
          --------
obtained against the use of any component of the TT/ST System or TT/SJ System by
reason of any such infringement allegation or if, in MIKN's sole opinion, the
TT/ST System or TT/SJ System or any component thereof is likely to become the
subject of a claim of infringement or violation of any existing patent,
copyright, trademark, trade secret, or other proprietary right of a third party,
MIKN will, without in any way limiting the foregoing, in MIKN's sole discretion
and at MIKN's expense either (1) procure for HOC the right to continue using the
item; (2) replace or modify the item so that it becomes noninfringing, but only
if the modification or replacement does not, in HOC's reasonable opinion,
adversely affect the functional performance or specifications for the item or
its use by HOC, or (3) if neither (1) nor (2) above is practical, remove the
item from HOC and refund to HOC all fees advanced by HOC Properties under each
of the Service and Maintenance Agreements for each of the HOC Properties less a
pro rata portion for periods of use prior to removal, and release HOC from any
further liability.

13.  CONFIDENTIAL INFORMATION

     Each party agrees to keep all Confidential Information of the other party
to which it has access hereunder strictly confidential, not to use such
information except in the performance of this Master Agreement or as permitted
by the licenses granted under the License Agreement, and not to disclose any
such Confidential Information to any person or entity other than its own
employees and agents who have a need to know and who have been informed in
advance of the receiving party's obligations with respect to such Confidential
Information. Each party will use all reasonable efforts to protect such
Confidential Information from unauthorized use or disclosure, but in no event
less effort than it uses to protect its own confidential information from
unauthorized use or disclosure.

14.  FEEDBACK

     In fulfilling their obligations under this Agreement, the License
Agreement, and the Service and Maintenance Agreements, MIKN and HOC will work
cooperatively and closely with management at the HOC Properties using the Base
TT System, TT System, TT/SJ System and/or the TT/ST System and will endeavor in
good faith to minimize interference with the ongoing business of the property
and to maximize the usefulness and functionality of the Base

                                       21
<PAGE>

TT System, TT System and/or the TT/ST System and/or the TT/SJ System. The
parties acknowledge that this may require regular surveys of the users of the
Base TT System, TT System and/or the TT/ST System and/or the TT/SJ System and
meetings between representatives of the HOC Properties, HOC and MIKN.

15.  GENERAL

     15.1 Entire Agreement. This Master Agreement and its Exhibits, together
          ----------------
with the License Agreement, the Registration Rights Agreement and the various
Service and Maintenance Agreements, constitute the complete agreement of the
parties and supersede any other agreements, written or oral, concerning the
subject matter hereof.

     15.2 Succession and Assignment. Neither party may assign or delegate any of
          -------------------------
its rights or obligations hereunder without the other party's prior written
consent, and any assignment or delegation without such consent shall be void;
provided, that the rights and obligations of HOC under this Master Agreement may
be assigned and delegated by HOC (i) by operation of law, (ii) to a wholly-owned
subsidiary of HOC, and/or (iii) to anyone acquiring all or substantially all of
the assets or stock of HOC. Subject to the foregoing sentence, the terms and
conditions of this Master Agreement will inure to the benefit of and be binding
upon the respective successors and assigns of the parties.

     15.3 Notices. Any notice required or permitted under this Master Agreement
          -------
will be given in writing and will be deemed effectively given (i) upon personal
delivery; (ii) upon transmission by facsimile; (iii) three (3) business days
following deposit in the United States mail, by certified or registered mail,
return receipt requested, postage prepaid; or (iv) one (1) business day after
being dispatched via nationally recognized overnight express courier. Each
party's address for notice under this Master Agreement will be:

          To MIKN:                            To HOC:
          -------                             ------
          Mikohn Gaming Corporation           Harrah's Operating Company, Inc.
          1045 Palms Airport Drive            1023 Cherry Road
          Las Vegas, NV  89119                Memphis, TN 38117
          Attn:  Charles McCrea, Esq.         Attn: Messrs. John Boushy and
          Fax No.: (702) 263-1695             John McConomy, Esq.
                                              Fax No.: (901) 762-8914

                                              with a copy to:

                                              David L. Hayes, Esq.
                                              Fenwick & West LLP
                                              Two Palo Alto Square
                                              Palo Alto, CA 94306
                                              Fax No.: (650) 494-1417

     15.4 Governing Law. This Master Agreement shall be governed and construed
          -------------
in accordance with the laws of the State of Nevada, without reference to or
application of its

                                       22
<PAGE>

conflicts of law principles.

     15.5 No Agency. Neither party is to be construed as the agent, partner, or
          ---------
joint venturer or to be acting as the agent, partner or joint venturer of the
other party hereunder in any respect.

     15.6 Multiple Counterparts. This Master Agreement may be executed in
          ---------------------
several counterparts, all of which taken together shall constitute one single
Master Agreement between the parties.

     15.7 Modification; Waiver. No waiver , consent or amendment with respect to
          --------------------
this Master Agreement will be binding unless it is set forth in writing and
signed by both of the parties thereto. No course of dealing between MIKN and HOC
will operate as a waiver or modification of any party's rights under this Master
Agreement. No delay or failure on the part of either party in exercising any
right or remedy under this Master Agreement will operate as a waiver of such
right or any other right. A waiver given on one occasion will not be construed
as a bar to, or as a waiver of, any right or remedy on any future occasion.

     15.8 Severability. If any one or more of the provisions of this Master
          ------------
Agreement shall be held to be invalid, illegal or unenforceable, the validity,
legality or enforceability of the remaining provisions of this Master Agreement
shall not in any way be affected or impaired thereby.

     15.9 Amendments in Writing. Any amendment to this Master Agreement shall be
          ---------------------
in writing and signed by both parties hereto.

     15.10 Interpretation. Since this Master Agreement was prepared by both
           --------------
parties hereto, it shall not be construed against any one party as the drafting
party.

     15.11 Force Majeure. With the exception of the obligation to pay monies due
           -------------
and owing, each party hereto shall be excused from performance hereunder for any
period and to the extent that it is prevented from performing any services
pursuant hereto, in whole or in part, as a result of delays caused by the other
party or an act of God, war, civil disturbance, court order, governmental action
or inaction, laws, orders, regulations, directions or requests, or as a result
of events such as acts of public enemies, earthquakes, fires, floods, strikes or
other labor disturbances of the other party or any third party, or other cause
beyond its reasonable control and which it could not have prevented by
reasonable precautions, and such nonperformance shall not be a default hereunder
or a ground for termination hereof.

     15.12 Compliance with Laws. Both parties will comply with all laws and
           --------------------
regulations applicable to their respective activities under this Master
Agreement.

     15.13 Equitable Relief. Due to the proprietary and sensitive nature of this
           ----------------
Master Agreement, HOC will be entitled to preliminary or other injunctive or
equitable relief to remedy any actual or threatened dispute arising from any
actions in breach of any of obligations under this Master Agreement.

     15.14 Rights and Remedies Cumulative. The rights and remedies herein
           ------------------------------
provided will

                                       23
<PAGE>

be cumulative and not exclusive of any other rights or remedies provided by law
or otherwise.

     15.15 Attorney's Fees and Court Costs. In the event of any litigation or
           -------------------------------
arbitration arising out of or relating to this Agreement, the prevailing party
in such litigation or arbitration shall be entitled to its reasonable attorney's
fees and to its court costs.

     15.16 Press Release, Advertising. Neither party shall use the other's name,
           --------------------------
trademarks, service marks, or tradenames in any advertising, promotion or
publicity without the prior written permission of HOC. Neither party shall issue
any press release concerning the matters contemplated by this Agreement without
the prior written consent of the other party, except as may be required by law
or regulation. The parties agree that the press release(s) in the form attached
as Exhibit H will be issued on or after the Closing Date.

     IN WITNESS WHEREOF, the authorized representatives of the parties hereto
have signed this Master Agreement as of the date and year last set forth below.

HOC:                                        MIKN:

By:________________________________         By:________________________________

Name:______________________________         Name:______________________________

Title:_______________________________       Title:_____________________________

                                       24

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