Document:

Exhibit 4.22

     

    CLEARING
      HOUSE AGREEMENT 

     

    This Agreement
      is entered into on this 26
      day
      of August 2006.
      Parties:

     

    
      	1) 
               	
              Ironbridge
                Limited of
                1934 Driftwood Bay, Belize City, Belize, Central America (the "Service
                Provider")

            

    

     

    
      	2)
                	
              Mahjong
                Systems (Cyprus) Limited, Chrysanthou
                Mylona, 3 RC. 3030, Limassol, Cyprus (the
                'Company")

            

    

     

    Operative
      Provisions: 

     

    
      
        	
              	1. 	
                Definitions:

              

      

    

     

    
      	
            	1.1.	
              "Network"
                means an online networked connection between and service to Operators
                that
                allows players originating from Operators to play mahjong with other
                players from the originating and all other
                Operators.

            

      	 	1.2.	"Operator"
              means an entity contracted to the Company or its agent for players
              signed
              up to that entity to play mahjong online against other players of that
              and
              other entities.

      	 	1.3.	"Microgaming" means Microgaming Software
              Systems Limited of MGS House, Circular Road, Douglas, Isle of Man,
              IM1
              1BL.

      	 	1.4.	"Microgaming Operator" means an entity
              contracted to Microgaming or its agent for players signed up to that
              entity to play mahjong online against other players of that and other
              entities that are contracted to Microgaming.

      	 	1.5.	 "Microgaming Network" means an online
              networked connection between and service to Microgaming Operators that
              allows players originating from Microgaming Operators to play mahjong
              with
              other players from other Operators and all Microgaming
              Operators.

      	 	1.6.
              	"Microgaming
              Clearing House" means a Clearing House exclusively for Microgaming
              Operators.

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

      	 	1.8.	"Clearing House Rules" those rules
              that apply
              to the administration and control
              of the Company Clearing House as set out in Schedule
              1.

      	 	1.9.	"Company Clearing House" means a Clearing
              House for the Company's Operators
              and the Microgaming Operators.

      	 	1.10. 	 "Winnings" means the total of all
              amounts won by mahjong players from other mahjong players, excluding
              such
              winning players' original wagers or stakes.

      	 	1.1'1.	"Rake" means the fee levied on a winning
              player to participate in a game of mahjong, equal to a percentage of
              the
              Winnings (initially 10%) or a tournament entry fee during such game
              of
              mahjong.

      	 	1.12. 	"Microgaming Network Rake" means the
              portion
              of the Rake which is payable to the Service Provider in the manner
              set out
              in Rule 2 of Schedule
              1 and which is calculated in accordance with Rule 3 of Schedule
              1.

    

     

     

    
 

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
            	2.	
              Background

            

    

     

    
      	
            	2.1.	
              The
                Company licences software and provides services to Operators to,
                enable play on the Network for the Operators'
                players.

            

      	 	2.2.	The Company is concurrently with this
              Agreement, entering into a Software Licensing and Services Agreement
              with
              Microgaming (the "Software Agreement) in terms of which it licenses
              software to Microgaming and provides services to Microgaming Operators
              for
              Microgaming Operators to enable their players to play on the Microgaming
              Network.

      	 	2.3.	Microgaming wishes Microgaming Operators
              to
              maintain their own Clearing House operating between the Microgaming
              Operators, in order to facilitate Microgaming's accounting and
              administrative needs.

      	 	2.4. 	The Service Provider wishes to provide
              a
              Clearing House for Microgaming Operators.

      	 	2.5.
              	The
              Company and the Service Provider wish to arrange for the necessary
              co-operation between the Microgaming Clearing House and the Company
              Clearing House, and this arrangement inter alia is set out
              herein.

      	 	 	 

    

     

     

    
      	
            	3.	
              Duties
                Of
                The Company

            

    

     

    3.1.  
       The Company shall provide, maintain and administer the Company Clearing
      House in accordance with the Clearing House Rules and in a manner compatible
      with good practice and sound financial principles.

    3.2.  
      The Company shall be responsible for all account administration and for payments
      to and from the Operators and shall account to the Service Provider for all
      payments owing to or due from the Microgaming Operators.

    3.3.   
      The Company shall keep and present the Service Provider daily with proper
      accounts of all amounts owing between the Company Clearing House and the
      Microgaming Clearing House.

    3.4.   
      The Company shall be responsible for all payments due to Operators, and shall
      not be responsible for any payments due to Microgaming Operators.

    3.5.   
      The Company shall be responsible and liable for all payments that must be made
      from the Company Clearing House to the Microgaming Clearing House, in accordance
      with the Clearing House Rules.

    3.6.   
      All amounts over the sum of US$20,000 owing from the Company Clearing House
      to
      the Microgaming Clearing House at the end of a day shall be paid
      daily.

     

    4.     
       Duties Of The Service Provider

     

    4.1.   
      The Service Provider shall pay a deposit to the Company in the amount of
      US$20,000 (the "Deposit") for the purposes set out in rule 5 of Schedule 1
      hereto.

    4.2.  
       The Service Provider shall be responsible and liable for all payments that
      must be made from the Microgaming Clearing House to the Company Clearing
      House.

    
      4.3.   
        The Service Provider shall be responsible for all payments due to the
        Microgaming Operators, and shall not be responsible for any payments due
        to
        Operators.

      4.4.   
        All amounts over the sum of US$20,000 owing from the Microgaming Clearing
        House
        to the Company Clearing House at the end of a day shall be paid
        daily.

    

     

     

    

 

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5.      
      Termination

     

    5.1.  
       This Agreement will terminate immediately upon termination of the Software
      Agreement for any reason whatsoever.

     

           
      6.        General

     

    6.1.     
      Confidentiality

     

    
      	
            	6.1.1.	
               Each
                party will take all proper steps to keep confidential all Confidential
                Information (which shall include the terms and existence of this
                Agreement) of the other which is disclosed to or obtained by it pursuant
                to or as a result of this Agreement, and will not divulge the same
                to any
                third party and will allow access to the same to its own staff only
                on a
                "need to know" basis, except to the extent that any such Confidential
                Information becomes public through no fault of that party. Upon
                termination of this Agreement, each party will return to the other
                any
                equipment and written data (without retaining copies thereof) provided
                for
                the purposes of this Agreement. The obligations and restrictions
                in this
                clause shall remain in force notwithstanding the termination or expiry
                of
                this Agreement for whatever reason. Confidential Information means,
                for
                the purposes of this Agreement, all information disclosed by one
                party to
                the other, whether disclosed orally or in written form and may include
                information relating to the disclosing party's research, products,
                software, services, development, creative projects, inventions, processes,
                designs, drawings, engineering, marketing or
                finances.

            

    

     

                              
      6.2.       Notices

     

    
      	
            	6.2.1.	
              Any
                notice to be given under this Agreement shall be either delivered
                personally or sent by telefax, or by first class recorded delivery
                post
                (airmail if overseas). The address for service of each party is its
                registered office or any other address for service previously notified
                to
                the other parties. A notice is deemed to have been served as
                follows:

            

      	 	 	6.2.1.1.   
              if personally delivered, at the time of
              delivery;

      	 	 	6.2.1.2.   
              if posted, at the expiration of 48 hours or (in the case of airmail)
              7
              days after the envelope containing it is delivered into the custody
              of the
              postal authorities.

      	 	6.2.2.	In
              proving service it is sufficient to prove that personal delivery was
              made,
              or that the envelope containing the notice was properly addressed and
              delivered into the custody office of the postal authority as a prepaid
              first class recorded delivery or airmail letter (as
              appropriate), or that a proper telefax report print out was
              obtained.

    

     

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	6.3.	
              Law

            

      	 	 	 6.3.1.    The
              construction, validity and performance of this Agreement shall be governed
              in all respects by the laws of England.

      	 	64. 	Assignment

      	 	 	6.4.1.     Neither
              party shall be entitled to assign this Agreement nor all or any of
              their
              rights and obligations hereunder without the prior written consent
              of the
              other.

      	 	6.5.	Waiver

      	 	         6.5.1.	The waiver by either party of a breach
              or
              default of any of the provisions of this Agreement by the other party
              shall not be construed as a waiver of any succeeding breach of the
              same or
              other
              provisions  nor shall any delay or omission on the part of
              either
              party to exercise or avail itself of any right power or privilege that
              it
              has or may have hereunder operate as a waiver of any breach or default
              by
              the other party.

      	 	6.6.	Headings

      	 	         6.6.1. 	The headings
              in
              this Agreement
              are
              inserted
              for
              convenience only and
              do not affect its construction.

      	 	6.7.	Entire
              Agreement

      	
            	                6.7.1.  	This Agreement embodies and sets forth
              the
              entire agreement and understanding of the parties and supersedes all
              prior
              oral or written agreements
              understandings or arrangements relating to the subject
              matter of this Agreement. Neither party shall be entitled to rely on
              any
              agreement, understanding or arrangement which is not expressly set
              forth
              in this Agreement.

      	 	6.8.	Modification

      	 	         6.8.1.	This Agreement shall not be varied
              or
              consensually cancelled, unless
              the variation or cancellation is expressly agreed in writing
              by
              each party.

      	 	6.9.	Invalidity and
              severability

      	 	  
                    6.9.1.	If
              any provision of this Agreement shall be found by any court or
              administrative body of competent jurisdiction to be invalid or
              unenforceable the invalidity or unenforceability of such provision
              shall
              not affect the other provisions of this Agreement and all provisions
              not
              affected by such invalidity or unenforceability shall remain in full
              force
              and effect. The parties hereby agree to attempt to substitute for any
              invalid or unenforceable provision a valid or enforceable provision
              which
              achieves to the greatest extent possible the economic legal and commercial
              objectives of the invalid or unenforceable
              provision.

      	 	6.10.	Counterparts

      	 	        
              6.10.1.	This Agreement may be executed in any
              number
              of counterparts with the same effect as if all parties hereto had all
              signed the same document. All counterparts shall be construed together
              and
              shall constitute one and the same original
              agreement.

    

     

        

     

     

    AS
      WITNESS WHEREOF the hands of the duly authorised representatives f the parties
      on the date first before wren:

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    For
      and
      .on behalf of
      Mahjong
      Systems (Cyprus) Limited

     

     

    
      	
              ____________________________________________ 

            	
              ____________________________________________ 

            
	Director	Director/Company
              Secretary

    

     

     

    For
      and
      on behalf of
      Iron bridge Limited

     

    
       

      
        	
                ____________________________________________ 

              	
                ____________________________________________ 

              
	Authorized Signature	Authorized
                Signature

      

       

    

     

    
      SCHEDULE
        1

       

                   Clearing
        House Rules
        (Clause
        1.8)

       

    

    
      	1.  	The Company shall keep account of all monies paid
              by and
              to all players in all games of mahjong, as well as the Operator or
              Microgaming Operator that each player originates from, and all Winnings
              and winners paid as -a result of
              the outcome of each game.

      	2. 	The
              Winnings of each game shall be determined and aggregated on a monthly
              basis within 10 days of the end of each calendar month in respect of
              all
              mahjong gameplay which occurred during the previous calendar month.
              The
              Microgaming Network Rake applicable for such Winnings, less the MSL
              Fees
              (as defined in the Software Agreement), shall be paid over to the Service
              Provider not later than 10 days after the end of each calendar
              month.

    

     

    
      	3.  	
              The
                Microgaming Network Rake shall be determined by apportioning the
                Rake
                between the Company and Microgaming for each game in accordance with
                the
                number of players in each game from each of the Company and
                Microgaming.

            

      	a.  	For
              example, if tuvo out of four players in a game are from the Company,
              the
              Rake is split equally between the Company and Microgaming. if three
              out of
              four players in a game are from Microgaming then three quarters of
              the
              Rake for that game goes to Microgaming and one quarter to the
              Company.

    

     

    
      	4.  	
              The
                Winnings, less the Rake as apportioned above, shall be retained by
                the
                Company for all games in which the winners are from Operators, and,
                for
                all games in which the winners are from Microgaming Operators, shall
                be
                paid over to the Service Provider on a monthly basis at the same
                time as
                the Microgaming Network Rake (less the MSL Fees) is to be paid to
                the
                Service Provider in terms of Rule 2
                above.

            

    

     

    
      	5.  	
              All
                amounts lost by players from Microgaming Operators to players from
                Operators
                shall be deducted by the Company from the Deposit and paid
                over
                to
                the Operators.

            

    

     

    
      	6.  	
              Service
                Provider shall pay the Deposit referred to in clause 4.1 to the Company
                to
                cover the maximum anticipated negative balance in any month. The
                amount of the Deposit may be adjusted higher or lower at any time
                when
                necessary to avoid a negative
                balance.

            

    

     

     

     

     

     

    5Exhibit 4.23

    THIS
      SURPLUS SECURITY ESCROW AGREEMENT

    made
      as
      of this

    20th
      day
      of
      March
      2002

     

    BETWEEN:

     

    EVENTS
      INTERNATIONAL HOLDING CORPORATION

      corporation
      incorporated
      under
        the
federal
        laws of Canada

    

                                                                                                                                                                                              
      OF THE
      FIRST
PART;

     

    (the
      "Issuer")

     

    -and-

     

    EQUITY
      TRANSFER SERVICES INC.

    a
      corporation incorporated

    under
      the
      laws of the province of Ontario

     

    (the
      "Escrow Agent")

     

     

                                                       

                                                                    
          OF THE  SECOND
      PART; 

     

    -
      and
      -

     

    THE
      PERSONS WHOSE NAMES ARE SET OTJT

    IN
      THE FIRST COLUMN OF

    SCHEDULE
      "A" ANNEXED HERETO

     

    (collectively,
      the "Parties")

     

                                                                      OF 
      THE THIRD PART;

     

     

            WHEREAS
       the
      Issuer
      is
      Tier 2 Issuer
      as
      defined
      in Policy
      2.1 - Minimum Listing Requirements
      of
      the
      Canadian
      Venture Exchange Inc.
      (the
"Exchange');

     

            AND
      WHEREAS the
      Security Holders
      are
      required to
      deposit
      in escrow with the Escrow Agent
      certain securities of the Issuer, to be held in accordance with
      Policy 5.4
      -
Escrow
      and Vendor Consideration
      (the
      "Exchange
      Policy")
      of
      the
      Exchange;

     

            AND WHEREAS
      the
Escrow
      Agent
      has
agreed
      to
      hold
      such securities in accordance with
      the
      terms
      of this Agreement;

     

            NOW
      THEREFORE, in
      consideration of
      the
      mutual
      covenants contained
      herein
      and other good
      and
      valuable oonsderation (the receipt and sufficiency of which is acknowledged),
      the Parties agree
      as
      follows:

     

    ARTICLE
      1. INTERPRETATION

     

    In
      this
      Agreement:

     

    
      
        	(a)	
                "Acknowledgement"
                  means an acknowledgement and agreement
                  to
                  be bound
                  in the form prescribed
                  by Form 5E of the Exchange;

              

      

    

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
       

      
        	(b)	
                "Additional
                  Securities" means
                  securities (including
                  a
                  right to acquire
                  securities)
                  that a Security
                  Holder acquires
                  after the date upon
                  which
                  the Security Holder executes this Agreement
                  or
                  an Acknowledgement
                  that are

              

      

    

     

    
      	
            	(i)	
              securities
                of the
                Issuer
                acquired:

            

    

     

    
      	
            	(A)	
              as
                a
                dividend
                or
                other, distribution
                on
                Securities;

            

      	 	(B)	upon the
              exercise of a right of purchase, conversion or exchange
              attaching
              to
              Securities;
              or

      	 	(C)	upon a subdivision
              or
              compulsory
              conversion
              or
              exchange of
              Securities; or

      	 	 	 

    

     

      

    
      	
            	(ii)	
              New
                Securities of
                a Successor Issuer acquired by
                a
                Security Holder which are subject to escrow in accordance with this
                Agreement;;

            

    

     

    
      	(c)	
              "Combination"
                means a bona
                fide
                formal take-over
                bid,
                plan
                of
                arrangement,
                amalgamation,
                merger
                or similar t ansacdon;

            

    

     

    
      	(d)	
              "Exchange
                Notice" means, as applicable,
                the
                notice issued by
                the Exchange
                announcing an Initial
                Listing, the notice
                issued
                by the Exchan a announcing
                completion
                of a New
                Listing
                (other than
                an
                Initial Listing) and
                coning Exchange
                Acceptance or,
                in
                the case of securities
                which
                are
                escrowed
                other
                than
                in
                accordance
                with
                an Initial
                Listing
                or
                New
                Listing, the notice issued
                by
                the
                Exchange
                following final
                Exchange
                Acceptance
                of the transaction;

            

    

     

    
      	(e)	
              "Exchange
                Requirements" has the
                meaning
                set
                out
                in Policy 1.1 -- Interpretation of the Exchange;

            

    

     

    
      	(f)	
              "Issuer's
                Certificate" means a certificate signed by a duly authorized director
                or
                officer of
                the
                Issuer, such authorization being
                evidenced
                by
                a resolution of
                the board
                of
                directors attached
                to
                such certificate;

            

    

     

    
      	(g)	
              "New
                Securities"
                means
                Options (as
                defined in
                Policy 5.4) and equity
                securities
                of an issuer that carry
                a
                residual right to participate
                in
                the earnings of the issuer and,
                upon
                the
                liquidation
                or
                winding up of the issuer, is its assets,
                where such
                securities are issued to
                a
                Security
                Holder
                in
                connection with a Combination;

            

    

     

    
      
        	(h)	
                "Securities"
                  means, in
                  relation to a Security Holder, those securities of the Security
                  Holder, including
                  Additional Securities,
                  that are held in escrow by
                  the
                  Escrow
                  Agent
                  pursuant to this
                  erd;

              

      

    

     

    
      
        	(i)	
                "Security
                  Holder" means
                  a holder of securities of
                  the Issuer who executes
                  this Agreement or an
                  Acknowledgement;

              

      

    

     

    
      	(j)	
              "Surplus
                Securities" has the meaning
                set out
                in
                the
                Exchange Policy;

            

    

     

    
      
        	(k)	
                "Successor
                  Issuer',
                  with
                  respect to
                  an Issuer, means an issuer that issues securities to a Security
                  Holder
                  in
                  connection with
                  a Combination
                  involving
                  the
                  first Issuer,
                  and

              

      

    

     

    
      	(l
              )	
              "Value
                Securities" has
                the
                meaning
                set
                out
                in
                the
                Exchange
                Policy.

            

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    ARTICLE
       2. DEPOSIT
      OF SECURITIES IN
      ESCROW

     

    
      	
              2.1

               

            	
              Each
                Security Holder hereby deposits with the Escrow Agent, to be held
                in
                escrow under this
                Agreement, the Securities described in Schedule A,
                and agrees to
                deliver
                to
                the
                Escrow Agent
                forthwith any certificates evidencing such
                Securities.

            

    

    

    
      
        	2.2	
                Each
                  Security Holder shall deposit in escrow with the Escrow Agent all
                  Additional Securities and
                  shall
                  deliver to the Escrow Agent forthwith
                  upon receipt thereof
                  any certificates
                  evidencing Additional
                  Securities and any replacement certificates which may at
                  any time be issued for any Securities
                  held in
                  escrow.

              

      

    

     

    ARTICLE
      3. DIRECTION
      TO ESCROW AGENT

     

     The
      Issuer and each Security Holder direct the Escrow Agent to retain the Securities
      in escrow and
      the
      Escrow Agent agrees to retain the Securities!
      in
      escrow
      until the Securities are released from escrow pursuant to the terms of this
      Agreement

     

    ARTICLE
      4. RESTRICTIONS
      ON DEALING WITH SECURITIES

     

    
      	4.1	
              Dealings
                with Securities in Escrow 

               

              Securities
                may only be dealt
                with as
                specifically allowed by this Agreement No
                Securities and
                no interest in
                control
                or direction over or certificate evidencing Securities shall
                directly
                or
                indirectly be Bold, assigned,'aasferred, redeemed, surrendered for
                consideration, mortgaged,
                hypothecated, charged, pledged, or encumbered or otherwise dealt
                with in
                any
                manner except as provided in this
                Agreement

            

    

     

    
      	4.2	
              Indirect
                Dealings with Securities in Escrow

               

              Except
                with the prior written
                consent of the
                Exchange, a Security Holder that is not an individual shall not issue
                securities of its own issue or effect or permit a transfer of ownership
                of securities of its own issue that would have the effect of changing
                the
                beneficial ownership of, or control
                or direction
                over, Securities.

            

    

     

     

    ARTICLE
      5. VOTING
      OF
      SECURITIES IN ESCROW

     

    Subject
      to any restrictions
      found is this Agreement, a Security Holder may exercise voting rights
      attaching
      to
      Securities.
      No Security Holder, while
      his,
      her
      or its Securities are held in escrow, shall vote any
      securities
      (whether
      in escrow or
      not)
      in
      support of one or more arrangements
      that would result in
      the
      repayment
      of capital
      being
      made
      on
      the
      Securities prior
      to
      a
winding
      up of
      the
      Issuer.

     

    ARTICLE
      6. DIVIDENDS
      AND DISTRIBUTIONS ON SECURITIES IN ESCROW

     

    
      	6.1	
              Subject
                to any specific restrictions found in this Agreement, the escrow
                of
                Securities will not impair any right of a Security Folder to receive
                a
                dividend or other distribution on Securities
                or to elect the form and manner in which the dividend or other
                distribution on
                Securities is paid.

            

    

     

    
      	6.2	
              Subject
                to subsection 6.3, if. during the period in which any of the Securities
                are retained in escrow
                pursuant to this Agreement, any dividend or other distribution, other
                than
                one paid in securities
                of the Issuer, is received by the Escrow Agent in respect of Securities,
                the Escrow Agent
                shall forthwith transfer such dividend or distribution to the Security
                Holder entitled thereto.

            

    

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    
      	6.3	
              Additional
                Securities
                distributed on Securities shall be subject to the same terms and
                conditions
                under this
                Agreement as the
                Securities on
                which
                the distribution
                was
                made. Additional
                Securities distributed
                on Securities,
                if received
                by
                the
                Escrow
                Agent, shall be retained
                in
                escrow. Additional
                Securities
                distributed
                on Securities,
                if received by the. Security
                Holder,
                shall
                be deposited in escrow in accordance
                with
                section 2_ All such
                Additional Securities
                shall be
                held
                in
                and released from
                escrow
                on
                the same
                terms
                and
                conditions
                as
                apply to
                the Securities
                on which
                the distribution
                was
                paid

            

    

     

    ARTICLE
      7. EXERCISE
      OF OTHER RIGHTS ATTACHING TO SECURITIES

     

    Subject
      to any
      specific
      restrictions found in this Agreement, the escrow of Securities will not
      impair any
      right
      of
a
      Security Holder
      to
exercise
      a right attaching
      to
      a
      Security that entitles the Security Holder
      to
purchase
      or otherwise
      acquire another
      security or to exchange or convert a Security into another
      security.

     

    ARTICLE
      8. PERMITTED
      TRANSFERS WITHIN ESCROW

     

    
      	8.1	
              Transfers
                to Directors and
                Senior
                Officers

               

              Securities
                may be transferred
                within
                escrow by a Security
                Holder to
                an
                individual who is
                a current
                director or senior officer of the Issuer or of a material operating
                subsidiary of the Issuer, provided
                that:

            

    

     

    
      	
            	(a)	
              the
                Security
                Holder
                provides written notice
                to the Exchange of the intent
                to transfer as
                at a specified date, such notice being provided
                at
                least 10 business days and not more than
                30 business
                days prior
                to
                the proposed
                transfer
                and the Exchange
                does not
                provide notice
                of
                its
                objection
                to the
                Escrow Agent prior
                to
                10:00 a.m. (Vancouver tune) or
                11:00 (Calgary
                time) on such specified date;
                and

            

    

     

     

    
      	
            	(a)	
              the
                Escrow Agent fast receives:

            

    

     

     

    
      
        	
              	(i)	
                as
                  Issuer's
                  Certificate
                  stating that the transfer is to a director
                  or
                  senior
                  officer
                  of the Issuer or
                  of a material operating
                  subsidiary
                  of
                  the
                  Issuer in accordance
                  with
                  the
                  terms
                  of this Agreement and the Exchange
                  Policy,

              

        	 	 	 

        	 	(ii)	a transfer power of attorney, duly
executed
                by
                the transferor, and

        	 	 	 

        	 	(iii)	an Acknowledgement
                signed by the
                transferee or an amended Agreement reflecting
                the transfer

      

    

     

    
      	8.2	
              Transfer
                Upon Bankruptcy

               

              In the
                event of bankruptcy
                of
                a Security
                Holder, the
                Securities of the Security Holder may be transferred
                within
                escrow to the trustee in bankuptcy
                or other person legally entitled to
                such Securities, provided
                that:

            

    

     

    
      	
            	(a)	
              the
                Security Holder provides written notice
                to
                the Exchange of the intent to transfer
                as
                at a specified date, such notice being
                provided at
                least 10 business days
                and not
                more
                than
                30 business
                days
                prior to the proposed transfer and the
                Exchange
                does not
                provide notice
                of its objection to
                the Escrow Agent prior to
                10:00 am.
                (Vancouver
                time) or 11:00
                am. (Calgary
                time) on
                such specified date;
                and 

            

    

    

    
      
        
          

        

        
        

      

      
        4

        
          

        

      

      
        
        

        
          

        

      

    

     

    
      	
            	(b)	
              the
                Escrow Agent fast
                receives:

            

    

     

    
      	
            	(i)	
              a
                certified copy of either:

            

    

     

    
      	(A)     
               	
              the
                assignment in bankuptcy of the Security Holder filed with the Superintendent
                of
                Bankruptcy; or

            

    

    
      	(B)     	the
              receiving order adjudging
              the
              Security Holder Bankruptcy;

    

     

    
      	
            	(ii)	
              a
                certified copy of a certificate of appointment of the trustee
                in bankruptcy
                a
                transfer power of attorney, duly executed by the transferor;
                and

            

    

     

    
      	
            	(iii)	
              an Acknowledgement
                signed by
                the
                trustee in bankruptcy
                or other person legally
                entitled to the Securities or an amended Agreement reflecting the
                transfer.

            

    

     

    
      
        	83	
                Transfer
                  to
                  Certain Plans

                 

                Securities
                  may
                  be
                  transferred within escrow
                  by
                  a Security Holder to
                  a registered
                  retirement
                  savings
                  plan ("RRSP") or registered retirement income fund ("BRIE') or
                  subsequently between RRSPS or from an RRSP to an RR1F, provided
                  that:

              

      

    

     

    
      	
            	(a)	
              the Security Holder
                provides
                written
                notice to the
                Exchange
                of
                the intent
                to transfer as at a specified date, such notice being
                provided
                at
                least
                10
                business days and
                not
                more than
                30 business
                days prior to the proposed
                transfer
                and
                the Exchange
                does not provide
                notice
                of its
                objection
                to the Escrow Agent prior to 10:00 a.m. (Vancouver
                time)
                or 11:00 sin. (Calgary time) on such specified date;
                and

            

    

    
        

       

      
        	
              	(b)	
                the
                  Escrow Agent first receives:

              

      

    

     

    
      
        	
              	(i)	
                evidence
                  from the trustee of
                  the RRSP or
                  RRIF, as
                  applicable, stating
                  that, to the best of the trustee's
                  knowledge,
                  the
                  Security Holder
                  is,
                  during
                  the Security
                  Holder's
                  litetlme,
                  the
                  sole beneficiary of the
                  RRSP
                  or RRIF;

              

        	 	 	 

        	 	(ii)	 a
                transfer
                power of
                attorney, duly executed
                by
                the
                transferor; axed

        	 	 	 

        	 	(iii)  	an
                Acknowledgement
                signed by the
                trustee of
                the RRSP
                or
                RRIF,
                as applicable,
                or an amended Agreement
                reflecting the
                transfer.

      

    

     

    
      	8.4	
              Discretionary
                Applications

            

    

     

    The
      Exchange may
      consent
      to
      the
      transfer within escrow of
      Securities
      in such
      other
      circumstances
      and
      as
      such
      terms
      and
conditions
      as it
      all
      determine in its sole discretion. Securities may be transferred within escrow
      provided
      that
      the
      Escrow Agent receives written notice from the Exchange.

     

    
      	8.5	
              Effect
                of Transfer Within
                 Escrow

            

    

     

    Upon
      completion of
      a
      transfer of Securities pursuant to this section 8,
      the
      transferee
      will be a
      Security Holder and the
      Securities
      transferred will remain in escrow,
      to be held
      in
      and
released
      from
      escrow on
      the
      same terms and
      conditions as
      were
      applicable prior
      to the
transfer,

     

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      9. RELEASE
      OF SECURITIES AND SECURITIES
      CERTIFICATES

     

    
       

      
        	9.1	
                Release
                  Schedule

              

      

    

     

    Subject
      to sections 10, 1 I and
      12,
      Securities
      will
      be
      released
      from escrow under this Agreement
      as set out
      in
      Schedule B.

     

    
      	9.2	
              Delivery
                of Certificates to Security Holder

            

    

     

    If
      a
      Security Holder wishes to receive a certificate evidencing Securities
released
      or
      to be
released
      from escrow
      on
a
      release
      date set
      out
      in
      Schedule B(1), B(2), B(3) or
      B(4),
as applicable,
      the
      Security Holder will provide
      written to
      notice
      the
      scrow
      Agent to that effect. If
      the
      Escrow Agent receives
      notice
      from
      a
      Security Holder that the
      Security Holder
      wishes to
      receive certificates for released Securities, the Escrow Agent will, as soon
      as
      reasonably practicable
      after the applicable release date or after receipt by the Escrow Agent of the
      notice
      from the
      Security Holder, whichever is later, deliver to or at the direction of the
      Security Holder, certificates
      evidencing
      flee
      Securities released from escrow
      an
      the applicable release
      date.

     

    
      	9.3	
              Replacement
                Securities

            

    

     

    Where a
      Security Holder
      has, in
      accordance with
      section 92, provided
      notice
      to
      the Escrow Agent
      that
      the
Security
      polder
      wishes to receive a certificate
      evidencing Securities released
      or
      to be
      released from escrow, and 'whelre
      the relevant certificate held
      by
      the
      Escrow Agent evidences
      a combination
      of
      Securities released
      from escrow on the applicable release date and
      Securities that
      are
      to remain in escrow, the
      Escrow Agent, as
      soon
as
      reasonably
      practicable
      after the
      applicable
      release
      date
      or after
      receipt by the Escrow Agent of
      the
      notice from
      the
      Security Holder,
      whichever
      is later, shall deliver such certificates to the
      Issuer or its transfer
      agent, together
      with
      a
      request
      that separate replacement
      certificates be
      prepared and delivered
      to the Escrow Agent. Where certificates
      evidencing Securities
      are delivered to the Issuer
      in
accordance
      with
      the
      foregoing, the Issuer, as soon as reasonably ticable, shall cause
      separate replacement certif cafes
      to
      be prepared
      and delivered to the
      Escrow Agent. As soon
      as
reasonably
      practicable after
      the
      receipt by the Escrow Agent of the replacement certificates,
      the
      Escrow Agent shall deliver, to or at the direction of the Security Holder,
      all
replacement certificates
      evidencing
      Securities
      released from escrow on the applicable
      release
      date.

     

    
      	9.4	
              Exchange
                Discretion to Terminate

            

    

     

    If
      the
      Escrow
      Agent receives a request
      from
      the
      Exchange to halt or terminate
      the
      release of Securities
      from escrow, then the Escrow Agent shall comply with
      thatrequest,
      and shall not release
      any Securities from
      escrow
      unless and
      until
      the
written
      consent of the Exchange is received

     

    
      	9.5	
              Discretionary
                Applications

            

    

     

    The
      Exchange may consent to the release from escrow of Securities in such other
      circumstances
      and
      on
      such
      terns and conditions as
      it
      shall determine in its sole discretion. Securities
      may be released from escrow provided
      that
      the
      Escrow Agent
      receives written notice
      from the
      Exchange.

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    ARTICLE
      10- RELEASE
      UPON DEATH

     

    Upon
      the
      death of
      a
      Security Holder, the Securities of that Security Holder shall be released from
      escrow
      and the
      Escrow Agent
      shall deliver all certificates evidencing
      such
      Securities to the legal LGesentative
      of the deceased
      Security
      Holder,
      provided
      that:

     

    
      	(a)	
              the
                legal representative of the deceased Security Holder provides
                written
                notice to the Exchange of the intent to release the Securities as
                at a
                specified date, such notice being provided at least 10 business days
                and
                not more than 30 business days prior to the proposed release
                and the Exchange does not provide notice of its
                objection to the Escrow Agent prior to 10:00 a.m. (Vancouver time) or
                11:00 am  (Calgary time) on such specified date;
                and

            

    

    
       

      
        	(b)	
                the
                  escrow Agent Est receives:

              

      

    

     

    
      	
            	(i)	
              a
                certified Copy
                of
                the death certificate; and

            

    

     

    
      	
            	(ii)	
              such
                evidence
                of
                the legal representa'tive's
                status
                that the Escrow Agent
                may reasonably
                require..

            

    

     

    ARTICLE 11 TAKE-OVER
      BID OR OTHER TRANSACTION

     

    11.1
      Deliveries to Escrow Agent

     

    A
      Security Holder who wishes to tender Securities (the
      "Tendered
      Securities") to a bona
      fide
      famtal
      take-over bid, plan of arrangement,
      amalgamation, merger
      or similar
      transaction
      (a
      'Transaction') shall deliver m the Escrow Agent;

     

     

    
      
        	
              	(a)	
                a
                  written direction signed by the Security Holder (a "Direction')
                  that
                  directs the
                  Escrow Agent
                  to
                  deliver
                  to a
                  specked
                  person (the "Depository")
                  either.

              

      

    

     

    
      	
            	(i)	
              certificates
                evidencing the Tendered Securities;
                or

            

    

    
      	
            	(ii)	
              where
                the Security Holder has
                provided the
                Escrow Agent
                with a
                notice of
                guaranteed
                delivery
                or similar
                notice of
                the Security Holder's intent to
                tender flee
                Tendered Securities to the
                Transactio , that notice;

            

    

     

    
      	
            	(b)	
              a
                letter oftrartsmittal or similar
                document

            

    

     

    
      	
            	(c)	
              where
                required, transfer power of attorney duly executed by the
                transferor;

            

    

     

    
      	
            	(d)	
              the
                written
                consent
                of
                the Exchange;

            

    

     

    
      	(e) 
               	
              any
                other
                documentation
                required
                to
                be
                delivered
                to
                the
                Depository
                under the
                terms of the Transaction; and

            

    

     

    
      	
            	(f)	
              such
                other information concerning or
                evidence
                of the Transaction that the Escrow Agent may reasonably
                require.

            

    

     

    11.2
      Deliveries to Depository

     

    Forthwith
      after its receipt of the information and documentation specified in subsection
      11.1,
      the
Escrow
      Agent shall
      deliver
      to
      the
Depository,
      in accordance with
      the
      Direction, the documentation
      specified or
      provided
      under clause 11.1(a), together
      with a letter addressed to fhe
      Depository that:

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

     

    
      	
            	(a)	
              identifies
                the
                Tendered Securities;

            

      	 	 	 

      	 	(b)	states
              that the Tendered Securities are held
              is
              escrow;

      	 	 	 

      	 	(c)	states that the Tendered Securities
              are delivered
              only
              for the purposes of the Transaction
              and that
              the Tendered
              Secuocidee will
              be released
              from escrow
              only
              upon
              receipt
              by the
              Escrow Agent 'of
              the information
              acid
              documentation described
              in subsection
              11.3;

      	 	 	 

      	 	(d)	where certificates
              far
              Securities have
              been delivered
              to the Depository,
              requires
              the Depository
              tv return to the Escrow Agent,
              as
              soon ,as practicable,
              the
              certificates evidencing Securities
              that are not releasable from
              escrow as
              described
              in clause (c) above;
              and

      	 	 	 

      	 	(e)	where
              applicable, requires the Depository to
              deliver or
              cause to
              be delivered to
              the Escrow
              Agent, as soon as practicable, certificates representing
              Additional
              Securities acquired
              by the Security Holder
              under the
              Transaction.

    

     

    11.3
      Release of Securities

     

    Tendered
      Securities shall be released from escrow under
      this
      section provided
      that:

     

    
      	
            	(a)	
              the Issuer
                or Security
                Holder
                provides written
                notice
                to the
                Exchange of
                the intent to release
                than Tendered $counties as at a specified date, such no'tiee being
                provided
                at least
                10 business days and not more than
                30
                business
                days prior to the proposed
                release
                and the Exchange does not provide notice of its objection to the
                Escrow Agent
                prior to 10:00 am. (Vancouver time) or 11:00 am. (Calgary time) on
                such specified
                date;

            

      	 	 	 

      	 	(b)	the
              Escrow Agent
              first receives
              a
              declaration signed by the Depository or, if the Direction
              iderstifies t e
              Depository as acting
              on behalf of another person in respect
              of
              the Transaction, by
              that
              other
              person,
              stating that:

    

     

     

    
      	
            	(i)	
              the
                terms and
                conditions
                of the Transaction have
                been met; and

            

    

    
      	(ii)  
               	
              the
                Tendered
                Securities
                have
                either
                been taken
                up
                and
                paid
                for
                or
                are
                subject to
                an unconditional obligation to be taken up and paid for under the
                Transaction.

            

    

     

    11.4
      Exchange of Securities

     

    The
      Escrow At shall
      hold any Additional Securities acquired
      by
      a Security
      Holder under
      a
      Transaction
      in
      escrow
      on
      the
same
      terms and
      conditions as
      applied
      to
      the
      Securities for which they were exchanged or substituted, or for which they
      constituted consideration-

     

    ARTICLE
      12. EARLY
      RELEASE / CONDITIONS OF RELEASE

     

    The
      provisions of Schedule "B" are incorporated into and form part of this
      Agreement.

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    ARTICLE
      13. ESCROW
      AGENT HAS NO RESPONSIBILITY AFTER RELEASE

     

    The
      Escrow Agent shall
      have
      no further
      respor sibility for Securities tE~at have
      been
      delivered to or at
      the
      direction
      of the Security Holder in
      accordance
      with
      the
      terms of this Agreement.

     

    ARTICLE
      14. RELEASE
      UNDER TAKING NOT TO SUE, AND INDEMNITY 

     

    14.1
      In
this
      section,

     

    
      	
            	(a)	
              "Act
                or O~issiop" meats any good-faith act of ,omission
                that
                is
                in any way connected
                with this Agreement, and includes;

            

    

     

    
      	
            	(i)	
              the
                performance, and non
                performance,
                of duties under
                this Agreement;

            

    

     

    
      	
            	(ii)	
              the
                exercise of discretion, and. failure to exercise discretion,
                in
                connection
                this Agreement;

            

    

     

    
      	
            	(iii)	
               the
                interpretation of this Agreement, or of any law, policy
                (including
                the Exchange Policy), rule regulation or
                order,
                and

            

    

     

    
      	
            	(iv)	
              the
                enforcement
                of and
                failure to
                enforce,
                this Agreement.

            

    

     

    
       

      
        	
              	(b)	
                'Escrow
                  Agent includes the directors, officers, employees, assigns and
                  insurers of
                  the Esrcow Agent, and

              

      

       

      
        	
              	(c)	
                "Exchange"
                  includes the directors, governors,
                  officers,
                  employees, assigns and insurers
                  of
                  the Exchange.

              

      

       

       

    

    
      14.2  
        The Security Holders and the Issuer, jointly
        and
        severally:

       

       

    

    
      
        	
              	(a)	
                release, indernnify and save harmless the Escrow Agent
                  from all
                  costs (including legal
                  costs), charges, claims, demands, damages, losses and expanses
                  incurred by the Escrow
                  Agent resulting from the Escrow Agent's performance, in good faith,
                  of its
                  duties under
                  this
                  Agreement;,

              

      

       

      
        
          
            	
                  	
                    (c)

                  	
                    agree not
                      to
                      make or bring a claim
                      or
                      demand,
                      or commence any action, against
                      the Escrow
                      Agent
                      in
                      respect
                      of
                      its
                      performance
                      in
                      good
                      faith
                      of
                      its
                      duties under
                      this
                      Agreement;
                      and

                  

          

        

      

       

    

    
      	
            	
              (a)

            	
              agree
                to indemnify and save harmless the Escrow Agent from all costs (including
                legal
                costs) and damages that the Escrow Agent incurs or is required
                by law to pay as a result of any person's claim, demands
                or
                action in connection with the
                Escrow

            

    

     

    
      14.3 
        Agent's good faith performance of the Escrow Agent's duties under this
        Agreement.

    

     

    The
      Security Holders and the Issuer, jointly and severally:

     

    
      
        	
              	(a)	
                release,
                  indemnify and save harmless the charges from all costs including
                  legal
                  costs), charges, claims, demands, damages, losses and expenses
                  incurred by
                  the Exchange;

              

      

       

       

      
        	
              	(b)	
                agree
                  not to make or bring a claim ar demand, or commence any action,
                  against
                  the Exchange; and

              

      

       

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

     

    
      	
            	(c)	
              agree
                to indemnify
                and save harmless the Exchange from all costs (inciuc ing
                legal costs)
                and damages that the Exchange incurs or is required by law to pay
                as a.result of
                any person's claim, demmand, oa
                action,

            

    

     

    arising
      from
      any
      and every Act or Omission committed or omitted by the Exchange, even
      if said
      Act
      or
      Omission was
      grossly
      negligent, or constituted a fundamental breach of the terms of this Ag cement
      or
      any other agreement

     

    ARTICLE
      15. RESPONSIBILITY
      FOR FURNISHING INFORMATION

     

    The
      Escrow Agent shall
      bear
      no responsibility
      for seeking, obtaining, compiling, preparing
      or
      determining the
      accuracy
      of,
      any
information
      or
      document that must
      be
received
      by
      the
      Escrow Agent as
      a
      condition under
      this
      Agreement to
      a
      release
      of Securities from escrow or
      a
      transfer
      of Securities
      within escrow. The
      Exchange
      shall
      bear
      no
      responsibility for
      seeking,
      obtaining,
      compiling, preparing or determining
      the
      accuracy
      of,
      any
      information
      or document that
      must
      be or is
      received
      by the Exchange as a condition under this Agreement or any Exchange Requirement
      to
      a
      release
      of Securities from escrow or a transfer of Securities within
      escrow.

     

    ARTICLE
      16. RESIGNATION
      OR TERMINATION OF ESCROW AGENT 

     

    16.1
      The
      Escrow Agent
      may
      resign
      by
      providing
      written
      notice of resignation to
      the
      hewer.

     

    16.2  
      The Issuer
      may terminate
      the
      services
      of the
      Escrow
      Agent under
      this
      Agreement by providing written notice of t
      inatiion to
      the
      Parties.

     

    16.3  
      The resignation
      or termination of
      the
      escrow Agent shall
      be effective,
      and the Escrow
      Agent
      shall
      cease
      to
      be
      bound
      by this
      Agreement:

     

    
       

      
        	
              	(a)	
                60
                  days after the date of receipt by the Escrow Agent or Issuer, as
                  applicable, of a notice referred to in subsections 162 or 16.3;
                  or

              

      

       

      
        	
              	(b)	
                upon
                  such date as maybe mmutually agreed to by the Escrow Agent and
                  the Ensues,
                  provided that the resignation or tenetion date must not be less than
                  10 business days before a release date set forth in subsection
                  9.1.

              

      

    

     

    16.4  
      If the Escrow Agent resigns or is terminated, the Issuer shall be responsible
      for ensuring that the Escrow Agent is replaced not later than the resignation
      or
      temination data.

     

    16.5 
       The Issuer's appointment of a replacement escrow agent shall be binding on
      the Issuer and the
      Security Holders.

     

    ARTICLE
      17. NOTICES

     

    17.1  
      Documents delivered to a Party's Address for Notice shall be considered to
      have
      been received;

     

    
      
        	
              	(a)	
                on
                  the next business day following the date of transmission, if delivered
                  by
                  telecopicr,

              

      

    

     

    
      	
            	(b)	
              on
                the date of physical delivery, if delivered
                by
                hand or by prepaid courier; or

            

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
            	(c)	
              five
                business
                days after the
                date of mailing, if delivered
                by mall.

            

    

     

    17.2
      The
      Address for Notice

     

    
      	
            	(a)	
              of
                the Escrow Agent is:

            

    

     

     

    
      	 	
              120
                Adelaide Street
                West,
                Suite
                420 

              Toronto,
                Ontario M5H3C3

              Tel.:
                416361.0930 

              Fax:
                416.361.0470

            	 
	 	 	 
	 	 	 
	 	Attention:
              Peter Lindemann	 
	 	 	 
	 	 	 

    

     

     

    
      	
            	(b)	
              of
                the Issuer is:

            

    

     

     

    
      	 	759
              Syiare Victoria,, Suite
              300	 
	 	Montreal, Quebec H2Y 2J7	 
	 	
              Tel.: 514.286.0855
                

              Fax:
                514288.0588

            	 
	 	 	 
	 	 	 
	 	Attention:
              Albert Barbusci	 

    

     

     

    
      	
            	(c)	
              of
                a
                Security Holder is
                the applicable Address for Notice noted
                in Schedule
                "A".

            

    

     

    17.3
      The
      Issuer and the Escrow Agent
      may
change
      their
      respective
      Addresses for
      Notice by delivering written notice
      tv
      all
other
      Parties of such
      change.

     

    17.4
      A
      Security Holder may change
      his
      or
      her Address for Notice, and Schedule
      A shall be deemed
      to
      have
      been
      amended accordingly, by delivering
      written notice of such change
      to
      tine
      Issuer and to the Escrow Agent.

     

    17.5
      A change
      in a
      Peerty's Address
      for Notice
      shall not be effective
      with respect to
      another
      Party
      until
      that other Party
      has
      received written
      notice
      of
      the
Change.

     

    17.6
      A
      Party shall not
      effect a delivery by
      mail
      if the Party is aware of an actual
      or
      impending disnrption
      of
      postal
      service.

     

    ARTICLE
      18.  ENFORCEMENT
      BY THIRTD PARTIES

     

    The
      Issuer enters this Agreement both
      on
      its own behalf
      and as
      trustee for the Exchange and
      the
      security
      holders of the Issuer, and
      this
      Agreement may be enforced by either the Exchange, or the
      security holders of the Issuer, or both.

     

    ARTICLE
       19. 
       TIME

     

    Time
      is
      of the
essence
      of this Agreement.

     

     

    

 

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      20. GOVERNING
      LAW

     

    This
      Agreement shall
      be
      construed in accordance with and governed
      by
      the laws of the Province
      of Alberta and the laws of Canada applicable
      therein.

     

    ARTICLE
      21. COUNTERPARTS

     

    This
      Agreement may be executed by facse
      and in
      two or more counterparts, each of which will be
      deemed
      to be an
      original
      and
      all
      of
      which
      will constitute one
      agreement.

     

    ARTICLE
      22. LANGUAGE

     

    Singular
      expressions used in this
      Agreement shall be deemed to include the plural, and plural expressions the
      singular
      where
      required by the context.

     

    ARTICLE
      23. ENUREMENT

     

    This
      Agreement will
      enure
      to
      the benefit of .and
      be
      binding upon the
      Parties
      and their heirs, executors, administrators, successors and permitted
      assigns.

     

    ARTICLE
      24. ISSUER'S
      CERTIFICATE

     

    The
      signing authority of the director or officer
      of
      the
      Issuer who 'signs an Issuer's Certificate shall
      be
      evidenced by a certified copy of a resolution of the board of directors of
      the
      Issuer, which resolution shall be attached to the Issuer's
      Certificate,

     

    ARTICLE
      25. ENTIRE
      AGREEMNT

     

    This
      Agreement, including the Schedules attached hereto, constitute the entire
      understanding between
      the Parties with respect to the subject matter hereof and supersede all prior
      agreements, understandings,
      negotiations and discussions,
      whether
      oral
      or written,
      between the Parties and there are
      no
      warrant es, representations or other agreements between the parties in
      connection with this
      Agreement, except as specifically set forth herein.

     

    ARTICLE
      26. TERMINATION,
      AMENDMENT, AND WAIVER OF AGREEMENT

     

    26.1
      Subject
      to subsection 26.3, this
      Agrdent shall
      only
      terminate

     

    
      	
            	(a)	
              with
                respect to all the Parties,

            

    

     

    
      	
            	(i)	
              as
                specifically
                provided in
                thus
                Agreement;

            

    

     

    
      	
            	(ii)	
              subject
                to
                subsection
                262, upon the
                agreement of all Parties; or

            

    

     

    
      
        	
              	(iii)	
                when
                  the Securities of
                  all
                  Security
                  Holders have been released from escrow pursuant
                  to
                  this Agreement; and

              

      

    

     

    
      	
            	(b)	
              with
                respect to a Party,

            

    

     

    
      	
            	(i)	
              as
                specifically
                provided
                in this Agreement; or

            

    

     

     

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	
            	(ii)	
              if
                the Party is a Security Holder, when all
                of
                the Security Holder's Securities have
                been
                released
                from
                escrow pursuant
                this
                Agreement,

            

    

     

    26.2  
An
      agreement to
      terminate
      this Agreement pursuant to subclause
      26.1(a)ii) shall not be effective
      unless and.
      until
      the
      a ment to terminate

    
       

      
        	
              	(a)	
                is evidenced by
                  a memorandum in writing signed by all
                  Parties;
                  has
                  beets approved
                  in writing by the Exchange;
                  and.

              

      

      
         

        
          	
                	(b)	
                  has
                    been approved by a majority
                    of
                    security holders of the Issuer who are not Security Holders.

                

        

      

       

    

    
      	(c)  	
              has
                been approved
                by a majority of security haldars
                of
                the Issuer who are not Securty Holders.

            

    

    
       

      26.3 
        Notwithstanding any
        other
        provision
        in this Agreement, the
        obligations set
        forth
        in section
        14 shall
        survive the termination of this Agreement.

       

      26.4  
        No amendment
        or
        waiver
        of this Agreement
        or any part of this
        Agreement shall
        be
        effective
        unless
        the amendment
        or
        waiver.

    

     

    
      
        	
              	(a)	
                is
                  evidenced by a memorandum in writing signed by all
                  Parries;

              

      

       

      
        	
              	(b)	
                has
                  bees
                  consented
                  to in
                  writing
                  by
                  the
                  Exchange,
                  and

              

      

       

    

    
      
        
          	
                	(c)	
                  has
                    been approved by a majority
                    of
                    security holders of the Issuer who are not Security Holders.

                

        

      

       

    

    26.5
      No
      waiver of any of the provisions
      of
      this
Agreement
      shall
      be
      deemed or sha11 constitute a waiver of
      any
      other
      provision (whether similar
      or not), nor 'shall any waiver constitute a continuing
      waiver,
      unless
      expressly provided

     

    ARTICLE
      27. SEVERANCE
      OF ILLEGAL PROVISION

     

    Any
      provision
      or
      part
      of
a
      provision of
      this
      Agreement determined by
      a
      court
      of competent jurisdiction
      to be invalid, illegal or unenforceable
      shall
      be deemed
      stricken to
      the
      extent necessary
      to
      eliminate
      any invalidity,
      illegality
      or unenforceability, and the rest of the Agreement and all
      other
      provisions
      and parts
      thereof shall
      remain in
      Ml
      force and
      effect and be binding
      upon the
      parties
      hereto
      as though
      the said
      illegal
      and/or
      unenforceable provision
      or
      part
thereof
      had never
      been included
      is
      this
      Agreement.

     

    ARTICLE
      28. FURTHER
      ASSURANCES

     

    The
      Parties will execute and deliver any further documents and
      perform
      any further acts
      necessary to
      carry
      out
      the intent of this Agreement.

     

    ARTICLE
      29. REMUNERATION
      OF ESCROW AGENT

     

    29.1
The
      Issuer
      shall pay the Escrow Agent reasonable remuneration for services provided
      by
      the
Escrow
      Agent
      under
      this
      Agreement.

     

    29.2 
      The
      Issues shall reimburse
      the
      Escrow Agent
      for
      reasonable
      disbursements
      incurred
      by the
      Escrow
      Agent in providing sees under this Agreement.

     

     

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    THE
      PARRTIES HAVE EXECUTED AND DELIVERED
      this Agreement
      as of
      the
      date set
      out
      above.

     

     

    

    
      	
              The
                Carporate/Common Seal of was
                affixed in the presence of:

               

              
                

              
Name:	
              ) 

              ) 

              ) 

              ) 

            	
              Equity Transfer
                Services Inc. 

               

              
                

              

              Name:

              Tite: 

            	 
	 	 	 	 
	The
              Corporate Seal of Events International 
              Holding
                Corporation was affixed in the presence of:

               

              
                

              
Name:	) 

              
                ) 

                  ) 

                    ) 

                      ) 

                    

                  

                

              

            	
              Events
                International Holding Corporation

               

               

              
                

              

              Name: Edward Polak 

              Title:
                President

            	 
	 	 	 	 
	
              The Corporate
                Seal
                of Cadence Holdings Inc. 

              was affixed in the presence of 

               

              
                

              
Name:	) 

              
                ) 

                  ) 

                  
                    ) 

                    ) 
) 

                

              

            	
              Cadence
                Roldiags Inc.

               

               

               

                

              

              Nathe: Albert Barbvsci 

              Title: President

            	 
	 	 	 	 
	
              The Corporate Seal of 607656 Ontario Inc

              
                was affixed in the presence of 

                 

                
                  

                

              
Name:	
              ) 

              ) 

              ) 

              ) 

              )  

            	
              607656
                Ontario Inc.

               

               

              
                

              

              Name: Dieter Jahnke

              
                Title:
                  President

              

            	 
	 	 	 	 
	
              This
                Agreement was signed by Dieter Sui  in

              the
                presence
                of 

               

               

                

              
Name:	) 

              
                ) 

                  ) 

                    ) 

                      ) 

                        ) 

                      

                    

                  

                

              

            	
              Sui
                &
                Company,
                In Trust

               

               

               

               

                
Name:
                Erwin Sui

            	 
	 	 	 	 
	This
              Agreement was signed by
              Dieter
              Jahnke
              in
                the
                presence of:

               

               

                

              
Name:	)  
              
                ) 

                  ) 

                    ) 

                      ) 

                        ) 

                      

                    

                  

                

              

            	
               

               

               

               

              
                
Name:
                Dieter Jahnke

            	 
	 	 	 	 
	This Agreement was signed by Edward
              Polak 
              m
                the
                presence of Name:

               

               

                
Name:

            	)  
              
                ) 

                  ) 

                    ) 

                      ) 

                        ) 

                      

                    

                  

                

              

            	
               

               

               

               

              
                
Dieter
                Jahnke

            	 
	 	 	 	 

    

     

     

    
 

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

     

    SCHEDULE"A"

     

     

     

    
      	Name & Address
              of Security Holder	 	
               Signature of Security
                Holder 

            	 	Number
              of Surplus Securities
	 	 	 	 	 
	
              Cadence Holdings Inc.

              759 Square Victoria, Suite 300,

              Mentreal, Quebec
                H2Y
                237

            	 	
               

              
                

              

            	 	10,950,000
	 	 	 	 	 
	
              Edward Polak

              593 Maple Avenue
                St-Lata
                  eat, Quebec 34P
                  2S6

              

            	 	
               

              
                

              

            	 	6,225,000
	 	 	 	 	 
	
              607656
                Ontario
                Inc.

              990
                Well ngton Street

              London,
                Ontario
                N6A
                3T2 

            	 	
               

              
                

              

            	 	2,400,000
	 	 	 	 	 
	
              Dieter
                raluiiae

              990
                Wellington Street

              London,
                Ontario N6A
                3T2

               

            	 	
              

            	 	1,200,000
	 	 	 	 	 
	Sui
              & Company, Tn. Trust
              6
                Adelaide Street E., Suite 300 

              Toronto,
                Ontario M5C 1H6 

            	 	
              

            	 	3,000,000

    

     

     

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

     

    SCREDULE
      "B"

     

     

    RELEASE
      OF SECS

     

     

    TIME
      RELEASE

     

    
      	
              Release
                Dates

            	
              Percentage
                of Total Escrowed

              Securities
                to
                be
                Released

            	
              Total
                Number of Escrowed

              Coremon
                Shares to be
                Released
                -

            
	
              Date
                of Listing

            	
              0%

            	
              0

            
	
              6
                months following Listing

            	
              5%

            	
              1,188,750

            
	
              12
                months
                following
                Listing

            	
              5%

            	
              1,188,750

            
	
              18
                months following
                Listing

            	
              5%

            	
              1,188,750

            
	
              24
                months following
                Listing

            	
              5%

            	
              1,188,750

            
	
              30
                months
                following Listing

            	
              10%

            	
              2377,500

            
	
              36
                months following
                Listing

            	
              10%

            	
              2,377,500

            
	
              42
                months following Listing

            	
              10%®

            	
              2,377,500

            
	
              48
                months following Listing

            	
              10%

            	
              2,377,500

            
	
              54
                months following
                Lasting

            	
              10%

            	
              2,377,500

            
	
              60
                months following
                Listing

            	
              10%

            	
              2,377,500

            
	
              66
                months following
                Listing

            	
              10%

            	
              2,377,500

            
	
              72
                months following
                Listing

            	
              10%

            	
              2,377,500

            
	
              TOTAL

            	
              100%

            	
              23,775,000

            

    

    

    EARLY
      RELEASE

    GRADUATION
      TO TIER 1

    If
      thc~Issu cr reasonably believes that it meets the Minimum Listing Requirements
      of a Tier 1 Issuer
      as
      described in
      Policy
      2.1-Minimum Listing
      Requirements, the Issuer may make application
      to
      the
      Exchange
      in
      accordance
      with
      Exchange
      Policy to
      be
      listed
      as
      a
Tier
      1
      Issuer and shall concurrently
      provide notice
      to
      the
      Escrow Agent of such
      application.

     

    If
      a
      Notice is issued by the Exchange
      con
      rr
      ning final acceptance for fisting of the Issuer on Tier
      1,
      the
      Issuer shall
      forthwith issue
      a
      news release disclosing t1 it has been
      accepfed
      for graduation to Tier
      1,
      disclosing the number
      of
      Securities to be
      released, the
      dates: of release and shall promptly provide
      such
      news
      release, together
      with
      a copy
      of
      the Exchange
      Notice
      to
      the Escrow Agent and the
      foregoing
      Schedule
      shall be deemed
      to
      be
      replaced
      with CDNX Schedule
      B(3).

     

    In
      the
event the
      CDNX
      Schedule
B(3)
      becomes
      effective, the Escrow
      Agent
      within 10 days of
      the
      issuance of a Notice by the Exchange
      confirming final acceptance for listing on Tier 1, shall
      release
      from escrow any Securities which pursuant to
      the
      CDNX
      Schedule
B(3)
      would
      have been releasable at a date prior to the Notice of the Exchange confirming
      final
      acceptance
      for
      listing
      on Tier
      1.

     

    Conditions
      ofReleaSe

     

    
      	1.	
              The
                Securities were
                issued
                by
                the Issuer to the Security Holders
                in
                consideration
                for the acquisition
                by the
                Issuer
                of
                all
                of
                the
                issued and
                outstanding
                shares of Events lntemational
                Holding
                Corporation
                the
                "Assets").

            

    

     

    
      	2.	
              The
                Escrow Agent shall not release Securities from escrow on
                a
                release date specified
                in
                this
                Schedule' B"
                unless the
                Escrow Agent has received, within
                the
                15 days prior to the release
                date, a
                certafccate from the Issuer that;

            

    

    

     

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    
      	
            	(a)	
              is
                signed by two directors or officers of the
                Tssuer;

            

    

     

    
      	
            	(b)	
              is
                dated not more than 30 days prior to the release dale;

            

    

     

    
      	  (c)
                 	
              states
                that the
                Assets
                were included a's
                assets
                on
                thebalanoe sheet of
                the Issuer in the most recent financial statements filed by the Issuer
                with the Exchange; and

            

    

     

    
      	(d) 
               	
              states
                that
                the
                Issuer has
                no reasonable lnowledge
                that the
                Assets
                will not
                be
                included
                w assets
                on the balance
                sheet
                of the
                Issuer in
                the
                next financial statements
                to
                be filed by the Issuer with the
                Exchange.

            

    

     

    
      
        	3.	
                It
                  at any two during
                  the
                  term of this Agreement, the Escrow Agent is prohibited from releasing
                  Securities on a
                  release date specified
                  in
                  this
                  Schedule "B" by
                  operation of
                  section 2
                  of this Schedule "B", then the Escrow Agent
                  shall
                  not release any
                  further
                  Securities from escrow
                  without the written consent of the
                  Exchange.

              

      

    

     

    
      	4.	
              If,
                by operation of this Schedule
                "B", the
                Escrow Agent does not release Securities from
                escrow
                ter a period
                of
                five years, then:

            

    

     

    
      	(a) 
               	
              the
                Escrow Agent shall deliver a notice
                to
                the Issuer, and shall include with the •
                notice any certificates possessed by the Escrow Agent which evidence
                the
                Securities;
                and:

            

    

     

    
      	(b)  	
              the
                Issuer and the Escrow AgImt shall
                take such action as is necessary to cancel the
                Severities,

            

    

     

    
      	5.	
               For
                the
                purposes
                of cancellation
                of
                Securities
                under
                this
                section,
                each Security Holder
                irrevocably
                appoints the
                Escrow Agent
                as
                his
                or her attorney, with
                authority
                to
                appoint substitute
                attorneys,
                as
                necessary,

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