Document:

EXHIBIT 10.46

                                LICENSE AGREEMENT

     THIS  LICENSE AGREEMENT (the "Agreement") is effective as of the 1st day of
January,  2005  (the "Effective Date"), by and between AMERICAN LEISURE EQUITIES
CORPORATION, a Florida corporation (the "Company"); and AROUND THE WORLD TRAVEL,
INC.,  a  Florida  corporation  ("AWT").

                                    RECITALS:

     A.     The  Company,  AWT  and American Leisure Holdings, Inc. have entered
into  a  certain  Asset  Purchase  Agreement  dated as of December 30, 2004 (the
"Purchase  Agreement"),  pursuant  to  which  the  Company has acquired from AWT
substantially  all  of  the  assets  necessary  to  operate  the travel business
previously conducted by AWT (the "Business"). The Purchase Agreement is attached
hereto  as  Exhibit  A.

     B.     Pursuant to the terms of the Purchase Agreement, the Company and AWT
have  entered  into a certain Management Agreement of even date (the "Management
Agreement"),  pursuant to which AWT has agreed to operate the Business on behalf
of  the  Company,  The  Management  Agreement  is  attached hereto as Exhibit B.

     C.     Pursuant  to  the  terms  of the Purchase Agreement, the Company has
agreed  to  grant  AWT  a non-exclusive license to use the intellectual property
listed on Schedule 1 to this Agreement (the "Licensed Property") for purposes of
fulfilling  the  obligations  of  AWT  under  the  Management  Agreement.

                                    AGREEMENT
                                    ---------

     NOW  THEREFORE,   in  consideration  of the  mutual  promises  contained
in  this Agreement and the Purchase Agreement, the parties hereby agree as
follows:

1.     Grant  of  License.  The  Company  hereby  grants  to AWT a non-exclusive
       -------------------
license  (the  "License")  to  use the Licensed Property for the sole purpose of
fulfilling  the obligations of AWT under the Management Agreement. AWT will only
use  the Licensed Property in a manner that is approved by the Company from time
to  time.  AWT  will promptly discontinue any use that the Company determines is
inappropriate  for  any  reason.

2.     Term.  The  term  of the License will expire upon the earlier of: (i) the
       -----
expiration of the Management Agreement or (ii) upon 10 days prior written notice
of  termination  from the Company to AWT, except as provided below in Section 6.

3.     Royalties.  AWT  shall  pay to the Company a sum equal to one hundred per
       ----------
cent  (100%)  of  the  sum  remaining  from  the operation of the Business after
retention of the amount rightfully due to AWT for its Management Fee pursuant to
the  Management  Agreement.

<PAGE>

4.     Disclaimer  of  Representations  and  Warranties.  The  Company  makes no
       -------------------------------------------------
representations  or  warranties  to  AWT  as to the validity or ownership of the
Licensed  Property  and AWT will be solely responsible for any claims, including
any  claims  for  infringement,  which  may  be  made against AWT as a result of
arising  from  its  use  of  the  Licensed  Property.

5.     Indemnification. AWT will indemnify and hold harmless the Company and its
       ----------------
successors  and  assigns  from any and all losses or liabilities whatsoever that
may be imposed upon or otherwise suffered by any of them as a result of: (i) any
breach of any warranty, covenant, agreement, or representation made by AWT under
this  Agreement  or  the  Purchase  Agreement;  or  (ii) any use of the Licensed
Property  by  AWT.

6.     Termination.  The  Company  shall  have  the right to suspend, cancel and
       ------------
revoke  the License granted herein if the Company discovers an inappropriate use
of  the  Licensed  Property  upon  24  hours notice hand delivered to the senior
officer  on  the  premises  of  AWT.  The  Company shall be entitled to ex parte
judicial action to acquire a court order to cause the cessation of the continued
use  of  the Licensed Property in the event of inappropriate use of the Licensed
Property  by AWT. For purposes of example and without limiting the scope of uses
that  the  Company may, in its absolute discretion, deem inappropriate, it would
be  inappropriate  use  if  AWT  were  to  attempt to assign the License granted
hereby,  or  if  a  third  party  were  to seek a judicial order against AWT for
possession  or  ownership  of  any  of  the  Licensee1  Property.

7.     Infringement.
       -------------

     (a)     AWT,  at  its  sole  expense,  will  at the request of the Company,
anywhere  in  the  world,  take all such actions, proceedings or steps as may be
necessary  either  in  its  name or in such name as the Company shall require to
protect  the  rights  of  the  Company  in  the  Licensed  Property.

     (b)     AWT  will notify the Company of any actual, threatened or suspected
action  by  a  third  party  or parties that may come to AWT's attention and may
constitutes,  or  is potentially to constitute, an infringement or breach of the
rights  in  the  Licensed  Property. The Company will decide whether to take any
legal  or  other action against such third party and AWT will be responsible for
payment  of  any  legal  fees  and  expenses  incurred  by AWT or the Company in
connection  with  such  legal  action.

8.     Rights  to Licensed Property. All rights in the Licensed Property will be
       -----------------------------
retained  by the Company, and nothing herein is intended to grant AWT any rights
in  such  Licensed  Property,  other  than the limited right to use the Licensed
Property  pursuant to Section 1 of this Agreement. In the event there is a final
determination  by  a  court  of competent jurisdiction that the Company does not
have  the  necessary  rights  in  the  Licensed  Property to support the license
granted  hereby,  the  Company shall immediately notify AWT and the grant of the
license  shall  be  immediately  revoked.

<PAGE>

9.     Miscellaneous.
       --------------

     9.1     Notices.  All  notices, demands or other communications to be given
             --------
or  delivered  under  this  Agreement  will  be  in writing and will be given in
accordance  with  the  terms  of  the  Purchase  Agreement.

     9.2     No  Agency  Relationship.  Nothing in this Agreement is intended to
             -------------------------
appoint  any  party  to be the agent of any other party, or to have any right to
enter  into  agreements  for,  or  by  or  to  represent  any  other  party.

     9.3     Gender.  Any reference in this Agreement to any gender will include
             -------
all  genders  and  words  used  herein  importing  the singular number only will
include  the  plural  and  vice  versa.

     9.4     Headings.  The division of this Agreement into  Articles, Sections,
             ---------
Subsections  and  other  subdivisions  and  the  insertion  of  headings are for
convenience  of  reference  only  and  will  not  affect  or  be utilized in the
construction  or  interpretation  of  this  Agreement.

     9.5     Severability. If any provision or covenant, or any part thereof, of
             -------------
this Agreement should be held by any governmental body to be invalid, illegal or
unenforceable,  either  in whole or in part, then such invalidity, illegality or
unenforceability will not affect the validity, legality or enforceability of the
remaining  provisions  or covenants, or any part thereof, of this Agreement, all
of  which  will  remain  in  full  force  and  effect.

     9.6     Entire  Agreement. This Agreement together with any documents to be
             ------------------
delivered  pursuant  hereto  constitute  the entire agreement by and between the
parties  pertaining  to  the  subject  matter  hereof  and  supersedes all prior
agreements,  understandings,  negotiations  and  discussions,  whether  oral  or
written, of the parties in respect of such subject matter. The Schedules to this
Agreement  are  apart  of  this  Agreement.

     9.7     Amendment.  No  amendment  of this Agreement will be binding unless
             ----------
expressly  provided  in  an  instrument  duly  executed  by  the  parties.

     9.8     Waiver.  No  waiver, whether by conduct or otherwise, of any of the
             -------
provisions  of this Agreement will be deemed to constitute a waiver of any other
provisions (whether or not similar) nor will such waiver constitute a continuing
waiver unless otherwise expressly provided in an instrument duly executed by the
parties.

     9.9     Governing  Law. This Agreement will be interpreted and construed in
             ---------------
accordance  with  the  laws  of  the State of Florida and the laws of the United
States  of  America  applicable therein. Any action, suit or proceeding relating
to,  arising  out of, or in connection with this Agreement may be brought by any
party  against  any other party in an appropriate Federal or state court located
in  Miami-Dade  County,  Florida.  All  parties  hereby  waive  any objection to
jurisdiction  or  venue  in  any  such  proceeding  before  said  court.

     9.10     Further  Assurances.  Each  of the parties upon the request of any
              --------------------
other  party  will  do,  execute,  acknowledge  and deliver or cause to be done,
executed,  acknowledged  or  delivered  all  such  further  acts,  documents and
assurances  as  may  be  reasonably  necessary  or  desirable to effect complete
consummation  of  the  transactions  contemplated  by  this  Agreement.

<PAGE>

     9.11     Successors  in  Interest. This Agreement and the provisions hereof
              -------------------------
will  inure  to  the  benefit  of  and  be  binding  upon  the parties and their
respective  successors and permitted assigns. No party may assign this Agreement
or  any of its rights and obligations hereunder without the prior consent of all
of  the  other  parties.

     9.12     No  Third  Party  Beneficiaries.  Nothing  in  this  Agreement  is
              --------------------------------
intended  or  shall  be construed to give any person (including employees of the
parties), other than the parties hereto, any legal or equitable right, remedy or
claim  under  or in respect of this Agreement or any provision contained herein.

     9.13     Counterparts.  This  Agreement  may  be  executed  in  one or more
              -------------
counterparts,  each  of  which  when so executed will be deemed an original, and
such  counterparts  together  will  constitute  one  and  the  same  instrument.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.

                                           COMPANY:
                                           --------

                                           AMERICAN LEISURE EQUITIES CORPORATION

                                           By: /s/ Malcolm J. Wright
                                               ---------------------
                                           Its: CEO
                                               ---------------------
                                           Name: Malcolm J. Wright
                                                 -------------------

                                           AWT:
                                           ----

                                           AROUND THE WORLD TRAVEL, INC.

                                           By: /s/ James R. Tolzien
                                               ---------------------
                                           Its: President
                                               ---------------------
                                           Name: James R. Tolzien
                                                 -------------------

<PAGE>EXHIBIT 10.47

                                    AGREEMENT

This Agreement, made and concluded this 1st day of April, 2004 is by and between
The  Shadmore  Trust  U/A/D  12/26/89, a California trust, Scott H. Shadrick and
Thomas  B.  Livermore,  Trustees  (hereinafter  "Shadmore")  and,

American  Leisure Holdings, Inc., a Nevada corporation with its principal office
and  place  of  business  located  at Orlando, Florida (hereinafter "AMLH"), and

Around  The  World Travel, Inc., a Florida corporation with its principal office
and  place of business located at Coral Gables, Florida (hereinafter "AWT"), and

Around  The  World Floldings, LLC, a Delaware limited liability company with its
principal  office  and  place  of  business  located  fit  Coral Gables, Florida
(hereinafter  "ATWH").

                                   WITNESSETH

Whereas,  Shadmore is the owner of Common Stock in the Florida corporation known
as  Around  The  World  Travel,  Inc.  of  Coral  Gables,  Florida  ("AWT"), and

Whereas, Shadmore is also the owner of Preferred Stock in AWT; and

Whereas, Shadmore is the holder of a promissory note or notes wherein AWT is the
Maker;  and

Whereas, Shadmore is a party in an agreement with Around The World Holdings, LLC
("ATWH")  dated  February  28,  2001  (the "Put Agreement") wherein it agreed to
acquire  stock  in  AWT from ATWH and also contains the right by Shadmore to put
the  stock  back  to  ATWH;  and

Whereas,  AMLH  has  made  an offer to Shadmore to acquire the Common Stock, the
Preferred  Stock  and  the  Note(s);  and

Whereas, AMLH has made an offer to Shadmore to fulfill selected responsibilities
of  ATWH  in  said  Put  Agreement;  and

Whereas,  Shadmore  has  accepted  the  AMLH  offer  and  the  Parties desire to
memorialize  their  agreement.

Now,  therefore, in consideration of the mutual promises herein contained, it is
agreed  as  follows.

1.  Recitals.  The  forgoing Recitals are true and accurate and are incorporated
herein

<PAGE>

2. Common Stock. Shadmore represents that it is the owner of 3,046,505 shares of
common stock of AWT. Said shares are not leveraged, assigned as collateral or in
any  way  impaired  such that Shadmore can convey clean title to these shares to
AMLH.  AMLH  hereby acknowledges that said stock may contain restrictive legends
and has no objection thereto. Shadmore hereby agrees to provide a statement from
AWT  executed  by  a  duly  authorized officer of AWT that verifies their common
stock  holding.  Attached  hereto  as Exhibits A-l through A-4 are copies of the
stock  certificates  numbered  NC-32,  Nc-42,  NC-51  and  NC-55,  respectively.

3.  Preferred  Stock. Shadmore represents that it is the owner of 907,677 shares
of Preferred Stock of AWT. Said shares are not leveraged, assigned as collateral
or in any way impaired such that Shadmore can convey clean title to these shares
to  AMLH,  AMLH  hereby  acknowledges  that  said  stock may contain restrictive
legends  and has no objection thereto. Shadmore hereby provides a statement from
AWT  executed  by a duly authorized officer of AWT that verifies their Preferred
Stock  holding.  Attached hereto as Exhibits B-l and B-2 are copies of the stock
certificates numbered PA-16 and PA-31, respectively.

4.  Note(s).  Shadrnore  represents that is the holder of certain instruments of
debt  owed  by  AWT.  Attached hereto as Exhibit C-l et seq. are copy(s) of said
instruments.  Shadmore  hereby promises to provide confirmations from AWT of the
amounts  due  under  said  instruments.

5. Consideration to Be Paid for the acquisition of 2, 3 & 4 above.

A.)  AMLH  agrees  to  pay to Shadmore the sum of 24,101 shares of AMLH Series E
Convertible  Preferred  Stock,  with  a  liquidation  value  of  $100  a  share
representing  a  value  upon  conversion  of  $2,410,113, bearing a 4% per annum
dividend  rate,  a  Par  Value of $.001 and convertible into the common stock of
AMLH  at  a  minimum  strike  price  of  $15.00  per  share.  The Certificate of
Designation  of  Series  E  Convertible  Preferred  Stock  is attached hereto as
Exhibit  D  and  made  a  part  hereof.

B.)  In  addition,  AMLH  agrees  to  guarantee  to  fulfill  most  of  the
responsibilities  of  ATWH  in the Settlement Agreement dated September 30, 2003
with  the exception of the duty to sell additional shares of AWT to Shadmore and
other  exceptions. Said Agreement is attached hereto as Exhibit E-l. Exhibit E-2
contains an amendment to said agreement that excludes those provisions that AMLH
is  not fulfilling. The Parties agree that, as of this date, that a valid put of
the  AWT  stock  has  been made by Shadmore and that the amount due from ATWH is
$1,698,340.  The  weekly payments of $3,692 will be adjusted to $5,000 per week.
AMLH  further  agrees that from the date of this Agreement it shall cause AWT to
pay  interest  on  the  unpaid  put  price at the rate of four per cent (4%) per
annum.  Said  interest  shall  be  paid  annually  in  arrears.

C.)  In  addition,  AMLH  agrees  that  Shadmore shall receive on account of the
amount  due  per  Section  5.B  an  amount  of money equal to 9.5% of the annual
Earnings  Before  Income  Tax,  Depreciation  and Amortization ("EBITDA") of the
TraveLeaders  Western  Unit  at Irvine, California until such time as the amount
owed  per  5,6  is  fully

<PAGE>

paid.  AMLH  shall  cause  said amount to be determined by March 1 following the
calendar  year and the amount determined to be due shall be paid in lumps sum by
April 1 of each year. Standard GAAP procedures shall be performed and the entire
formula shall be transparent and disclosed to Shadmore. Disputes over the amount
due  per  this  section  shall  be  resolved by utilizing the dispute resolution
procedures  of  the  CPAA  of  America.

6.  Indemnities.  A.)  AMLH hereby agrees to indemnify Shadmore from any and all
loss,  cost  or expense associated with the transfer of the Common Stock and the
Preferred Stock of AWT relative to any rights that AMLH may have under the state
and  federal  laws  and  regulations  of the state and federal regulatory bodies
relating  to  the  private sale of exempt, non-registered securities. AMLH is an
accredited investor as defined in Rule 501 of Regulation D of the Securities Act
of  1933,  as  amended  (the  "Act").

B.) Shadmore hereby avers that their acquisition of the Series E Preferred Stock
is  for  their  own account, for investment purposes only and not for re-sale or
distribution.  Shadmore  acknowledges that this acquisition is not being done in
conjunction  with a public offering as defined in the Act and that Shadmore, and
its  Trustees,  are  accredited  investors  as  defined  in  the Act. Therefore,
Shadmore  hereby  indemnifies  AMLH against all loss, cost or expense associated
with  the  transfer  to  them  of  the  Series  E Preferred Stock of and by AMLH
relative  to  any rights that Shadmore may have under the state and federal laws
and  regulations  of  the  state  and  federal regulatory bodies relating to the
private  sale  of  these  securities.

C)  AMLH  hereby promises and agrees that it shall hold the individuals known as
Thomas  B.  Livermore  and  Scott  H. Shadrick financially harmless from actions
undertaken  by  the  Internal  Revenue  Service  ("IRS")  on  account of federal
withholding  tax, PUT A, FICA and the resulting penalties and interest and fines
associated  with  an  assessment  by  the  IRS  of the liability owed by AWT for
non-payment  and  late  payment of employer and trust fund taxes that were to be
paid  over  to  the  IRS  while  Livermore  and  Shadrick  were  titular  but
non-operational  officers  of AWT. The only conditions of this indemnity are: a)
that  it  shall  be void and of no effect as to either of them in the event that
the  IRS  or  AWT  presents  incontrovertible  evidence that such individual did
actively  engage  in  the  conduct that has given rise to the assessment; and b)
AMLH  shall  afford to Livermore and Shadrick the same protection and insulation
from  personal  liability  that  it  will  afford  to  other  officers similarly
situated.  The  purpose  of  this  second  condition is that AMLH will propose a
payment  plan to extinguish the agreed liability and it shall faithfully perform
said  agreement.  AMLH shall also cause AWT to inform the IRS that Livermore and
Shadrick  are not responsible for the assessment. However, AMLH can not and does
not  guarantee  that  the IRS will not take independent action against Livermore
and  Shadrick  despite  the  representations  and  the  payments.

7.  Timing  and  Closing.  The  Parties  agree that the documents and securities
recited  herein  shall  be  exchanged  within  15  days of the execution of this
Agreement  time  being  of  the  essence.

<PAGE>

8.  Disclosures.  AMLH  has  disclosed  and  by  these presents re-affirms their
disclosure  to  Shadmore that it currently intends to seek an agreement with AWT
to  purchase the entire asset array of AWT (the "Assets"). In such pursuit, AMLH
is  making  this  Agreement,  as  it intends to do with most, if not all, of the
other  shareholders  of AWT, so as to structure the acquisition of the Assets in
such  a way as to provide a fair and amicable transition of the ownership of and
the business operations of AWT in and to AMLH. Attached hereto as Exhibit G is a
spreadsheet  entitled  "AWT  Minority Shareholders Offer Sheet" that depicts the
AMLH  offer to Shadmore and other shareholders similarly situated. Also attached
hereto  as  Exhibit  F is a full synopsis of the offer that has been accepted by
the  members  of ATWH to convey their entire ownership interests in ATWH to AMLH
as  it  is  the  majority  common  shareholder of AWT. Further, AMLH has made an
agreement  with GCD Acquisition Corp. to acquire the ownership and rights of the
senior  secured  debt (formerly owed to Galileo International, LLC) owed by AWT.
In addition, AMLH intends to make appropriate use of the staff and management of
AWT  in  the  ongoing  operations  of  the  AMLH  Travel  Division.

9.  Releases.  In light of the Disclosures, AMLH requires and Shadmore agrees to
look solely to AMLH for the performance of the obligations contained herein and,
as  such,  said  obligations shall replace and supercede all obligations of AWT,
ATWH and the officers, members and directors of said entities. AWT joins in this
Agreement  for  the express and specific purpose of demonstrating its consent to
the  transaction described as well as to agree to exchange with Shadmore and its
Trustees  general,  mutual  and  reciprocal  releases upon the execution of this
Agreement.

10.  Entire  Agreement.  This Agreement and the Exhibits attached hereto contain
all aspects of the agreements between the Parties. This Agreement supercedes all
prior  written  and  oral communications pertaining to the transaction described
herein.  Any  element  deemed  unenforceable  will  not  vitiate  the  remaining
provisions  or  this  Agreement.  This  Agreement  is not assignable without the
written consent of the other Party except that AMLH may assign this Agreement to
a  subsidiary  controlled by AMLH but no such assignment shall relieve AMLH from
the  responsibilities  incurred  herein.

11. Working Relationship. Notwithstanding anything in Exhibit G to the contrary,
AMLH  agrees  that Shadmore (or by extension Messrs. Livermore and Shadrick) may
reserve  the  right  to  propose an involvement in the upper level management of
AMLH  regarding  matters  pertaining  to  the  AMLH  Travel  Division.

                   [Balance of Page Intentionally left blank.]

<PAGE>

SIGNATURE PAGE

Dated at Irvine, California this 1st day of April, 2004.

/s/Thomas B. Livermore, Trustee               /s/Scott H. Shadrick, Trustee
-------------------------------               -----------------------------
Thomas B. Livermore, Trustee                  Scott H. Shadrick, Trustee
The Shadmore Trust U/A/D 12/26/89             The Shadmore Trust U/A/D 12/26/89

/s/ MalcolmWright
-----------------
Malcolm Wright, President
American leisure Holdings, Inc.

Dated at San Diego, California this 1st day of April, 2004

/s/ Keith St. Clair
-------------------
Keith St. Clair
Managing Member
Around The World Holdings, LLC

/s/ Keith St. Clair
-------------------
Keith St. Clair
Managing Member
Around The World Travel, Inc.

<PAGE>

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